The Money Market.

Manawatu Standard, Volume IX, Issue 50, 31 January 1885, Page 2

The Money Market.

•-^esm-sr Clmfles Ppwnall and Co. scriveners, report :«~ 'ffie itaisactions for the present month m mortgage investments have ; beeu limited to a narrow compass, and principally confined to private local amounts. There is littlechange m the value of money, which, nominally remains at our last quotations, 7to 7£ per cent., the exception being that fur any considerable amount required upon undoubted securities, negotiation would be entertained at 6A. Very few applications for moitgagfa of broad acres are offering oo the conditions imposed. Mortgagees firmly decline to burden their properties for % term of years with advances amount' ing to an average to about one-half their true value, based; Aipon Valuations made upon forced auction sales, Luoking to the present and future prospects of their holdings/ jljere^ can belittle* doubt they are perfectly justified m their present action. Capital m tlm English market atiU 'Cdntiuues unemployed to atavge lambuiit, 'ilMlast quotations Ueiiia: 3^ per cetjt* outside thehauk rate of 5 per cent, aud without any large demand arising. here to supply new operations, money for investment will probably further /decrease.