The Money Market.
■ Messrs Charles Pownall and Co., scriveners, report \— A. consideraolei influx of foreign capital has, as we foretold, faken place during the last month for mortgage investment, with the effect of reducing the rate of interest fully £ per cent., quotations now being from 7 to 7^ per cent for sums m excess of £500. As many borrowers for considerable amounts have been awaiting this opportunity for obtaining cheaper money, ■ there kas bean a large demand, and\several transa6tionß have already been conclude^ these terms. We do not, however, look for much lower rates. The English market is fast rising; m value^ the last outside price being 4s, with the b,ank. rate.s per cent. There is likewise every appearance of new land operations occurring, which will most probably give rise to further extensive speculations, thereby creatiug a very large demand, and it is necessary we should recollect that, before the late crisis set m, with an ample supply'of money offering, the operations were so much m excess that from 8 to 9 per cent, was freely given for it. : ..
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Bibliographic details
Manawatu Standard, Volume VIII, Issue 129, 8 November 1884, Page 2
Word Count
179The Money Market. Manawatu Standard, Volume VIII, Issue 129, 8 November 1884, Page 2
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