MONEY MARKET.

Manawatu Herald, Volume XXXV, Issue 1092, 3 May 1913, Page 2

MONEY MARKET.

The supply of money stijl continues very restricted and lending rates remain very firm. The bank return figures show an improvement in the position as compered with the previous quarter ,* there.! is an excess of deposits overadvances of -,£439,764 for the December quarter, and an excess of deposits of £887,353 for the. March quarter last year. The improvement, in the quarter is, of course, due from the realisation of. the season’s produce, and .this. improvement should be continued in the current quarter. The imports and exports, * , apart. from specie, compare Its., * follows for the past three yeata ending 31st March: — 'g 1912-13 1911-12 1910-11 • ££ £ : Exports 22,643,205 19,003,831 21,407,187 Imports 21,300,688 19,774,517 17,395,068 Excess .natm ‘ Exports 1,333,577 - 4,113131 Excess . ■ < Imports —* //0,6bfl The latest year’s figures show an improvement of £2,104,243 op the previous year, though, owing to the rapid and heavy growth in imports, there is not as good a balance as there should be, in spite of the fact that our exports show a larger total than ever before. The Post Office Savings Bank returns show an excess of withdrawals over deposits for the March quarter of £57.09*. showing that the general demand for money and high rates are attracting these funds to other invest-ments.--N.Z. Trade Review, / / |