The Money Market.

Manawatu Standard, Volume IV, Issue 136, 8 May 1884, Page 3

The Money Market.

Messrs Williamson and Co., Sharebrokers, Wellington, report aa follows : — Money 'cannot be quoted, from a broker's point of view at "least, otherwise than as plentiful ; there is a deal of it at present seeking placement but buyers are extremely fastidious m selecting stocks, and keen enquiry is made as to the character and applicability of reserve funds m the various financial institutions. It is justly urged coucern- ' ing reserves, so called, that the term is most misleading, for that no arrangemeut of business nor adaption of balance sheets can satsfactorily bo substituted for securities m hands of responsible Trustees, instantly convertible into sovereigns, to meet any special emergency. It is, not to be assumed that reserves locked up m land or merged m the general business of any company may be made immediately realisable to face, for instance, a run on fixed deposits or clamorous demand for cash. Such occurrences are by no means unprecedented, nor even infrequent elsewhere, and will have inevitably to be dealt with sooner or later m New Zealand. Shareholders surely may reasonably require that every financial statement issued by public companies should clearly show the exact nature of the securities and resources of the reserve fund.