THE STATE OF TRADE.

Manawatu Herald, Volume III, Issue 20, 9 November 1880, Page 2

THE STATE OF TRADE.

Ths New Zealand Times makes the following references to tho condition of trade, in its monthly Kumtnury of commercial new* : — The business of the month ending with our present dato has not been as brisk as we anticipated The import market is dull, vl though trade shows no animation, it is nevertheless steady and aounder. Merchants all have the same tale to relate, viz , transactions are limited and purchases only for immediate requirements. Uetailera com* plain about the entire cessation of publio works, and in consequence have great difficulty in collecting their money from thw working class. It is tho opiuion that much of the pret>cut stagnation is attributable to a falling off in the purchasing power of our population, luxuries having a most limited sale, while there ia a growing demand tor cheap and inferior goods, thus indicating the existence of an enforced economy which, though commendable in itself, is to be regretted as one evidence of restricted means amongat the people. No important failures have taken place during thu mouth, and business ongageuK'uts have been fairly mot. There is «n ibunJant supply of money at from 7 to 9 per cent, for loan on good freehold »ecuriti s, the leaser amount being for large tutus and ezcept.onal eocurilk's. There it also a fuir supply for good commercial discounts liaok rates are unchunged. iMus-rs Powuall and Co. report that during the last month there ha* been a steady supply ef home and outside capital offering to: 1 investment on mortgage, a largo portion of which may probably bo absorbed by the conclusion of some large negotiations hoW pending. The rate of interest may still be quoted ot. 8 per cent, for bigh-ol«as securities, though it is very probable 7£ pur cent, may find a quotation in their n.-xt report fur specific largo amount p.