Manawatu Herald THURSDAY, APRIL 14, 1921. MONEY MARKET.

Manawatu Herald, Volume XLIII, Issue 2263, 14 April 1921, Page 2

Manawatu Herald THURSDAY, APRIL 14, 1921. MONEY MARKET.

SAYS the New Zealand Trade. Re-' view:—Wo are now al the bank balancing time, and consequently bank accounts are being nursed and watched carefully. The bank•*returns for the quarter will be available in about ten days, and they may be’ expected to show a short supply of funds. The excess of deposits over advance* for the September quarter was £14,113,880, and for the December quarter this excess had dropped to £2,338,590. As importation has kept steadily in excess of •exportation for some months past we may expect to see a further movement in this direction, quite probably to the extent that advances will be in excess ot deposits. Imports for the months of January and February totalled £10,883,842, and exports £8,030,552, leaving an excess of imports of £2,303,200. During the coming quarter we expect to sec considerable improvement in these figures, as importation is being severely curtailed, while exports will increase as long its there is enough shipping available for their removal. There tire heavy stocks of wool, meat and cheese awaiting removal. The markets for our main products are not very favourable at present, and reduced returns must be expected. It will take some time for matters to right themselves, and while we tire experiencing a period of financial tightness and quietness in trade, we think it will not be very long before some improvement will be noticeable, and conditions will steadily return to normal. Owing to the present stale of affairs the Government recently extended the moratorium to apply to money on deposit til call. This was no doubt merely a temporary expedient to prevent embarrassment in some quarters, and will probably not be made use of except where absolutely necessary, and it should not he required for very long.