THE MONEY MARKET.

Manawatu Herald, Volume XXXI, Issue 449, 30 January 1909, Page 2

THE MONEY MARKET.

The New Zealand Trade Review, contains the following article on tbe money market“ The bank returns tor the December quarter, which are reviewed in this issue, show that the demands made upon those institutions have continued without appreciable diminution. Further withdrawls of deposits have taken place to the extent of ,£887,954 in the quarter, almost entirely from the free class, while additional advances have been made to the amount of ,£205,792. At the same time the total pf the Government ciedits has been reduced by £171,421. The calls to which the banks have responded reach thus, a total of over ,£1,275,000 in thequaiterin addition to the heavy demands that weremadeduring the twelve months ending on tbe 30th September, as recorded in previous issues. We also give some particulars of the loans raised by local governing bodies in the Dominion according to the latest returns published. These extend, it is true, only to the 31st March, 1908, but they show that in a twelve month ending with that date over ,£1,100,000 of local money had been absorbed by these bodies, while the amount so raised within the Dominion equals nearly ,£4,000,000 in lour years.”