COMMERCIAL NEWS.

Manawatu Standard, Volume XI, Issue 1623, 1 February 1886, Page 2

COMMERCIAL NEWS.

Tike Money Market.

Messrs Charles Pownall and., Co., Mortgage Agents; Wellington, report :• — The commencement of the new year has so 'far brought little perceptible change m tffe 'Valu6i of money on nitfrif" gage investment, quotations remaining as they have; been' f pr , the last ; twelve months-4-f rom 6 per cent, to 7 per cent. Capital continues m sufficient , to; meet the present moderate .demands, though the usual remittances from Australia and ths Old Country are. at present considerably curtailed. Our advices from influential sources m London state that theiamount of unemployed money seeking investment is un bou nd cd. Eng iish property,' has fallen jSO . per ,cent. ;. while m Ireland' lima 1 is pra6ticaiiy v valuei less. The present principal;.. drawback to direct! operations here is the fear entertained that trie < interest upon -the further future millions now on the V tapis" to be borrowed can only be -met. by increased : property ; tax, which |seripUily affect ;/ the .position *of the mortgagees. ' Thai'combirie'd witti ' ;the low price of wool, tallow, and mut-~ ton, creates ..some distrust lover our prospects: Taking into' cb'n3idera ; ■' r tidn n the ( very hard 'strain upon r our, ; station-holders; large and small, during the last yc^iwith^ll^se^QW'p^e^!^] contend Jwith for their produce, and the straightforward and honourable manner .in^whicb! tlieir^ j eigigag6ments> Kavfe jnpl£ withstanding been met, . we dp. not v how•'ever, think any prospebt of : increased taxation Ineed create any distrust for the future, j .T;ir;-.n< •; h .yi- ..-;;• .: v