The Money Market.
Messrs Charles Eowjiall and Co., scriveners, report the money market bare of supplies, with tihe fexosption of a few trust funds, for which very high-class securities are demanded. A large amount could now be placed on mortgage at full rates, 7£ to_B per cent., but the absence of any capital for investment from the Home Country, combined with local and Australian money being absorbeJ m existing financial arrangements, the demand is much m excess, and few transactions therefore have been negotiated) We called attention some months ago to the value of our city securities for mortgage or purchase, and properties then almost unsaleable are now offered only yt very advanced rates, L'lso" up' to L2OO per foot being demanded for prominent positions, and are likely to be accepted oh those terms, with every prospect of much higher prices ruling. : .
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Bibliographic details
Manawatu Standard, Volume IV, Issue 152, 26 May 1884, Page 2
Word Count
142The Money Market. Manawatu Standard, Volume IV, Issue 152, 26 May 1884, Page 2
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