The Money Market.
Messrj Charles Pownall and Co., mortgafefe&genk, Wellington, rep^fc 1 thei de.-; niand .for ' capital on mortgage invest-' ment during the last month limited, and the business transacted confined to a few min§r: opefati&s. While the value ef money m the Home market has, contra^ .to expectation,! rsnffered another collapse of "nearly 2 per cent. (Bank Of England rates now being quoted at 2, and commercial at 1|), our supply has become more contracted, and we have to quote present rate.of, interest fully £ per c eht. higher, viz., frbin 6$ to^i per dent. The feeling of uncertainty that exists as to the actibn of the Government , duriOgthe commg session ,;is no doubt one of the principal; causes for this contrac tion, mortgagees looking to the probability of further large loans being required, the interest for which can probably' only d 6 met by increased property tax,' and untilthis important question is settled, we exDectto see present quotations fully maintained.'.
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https://paperspast.natlib.govt.nz/newspapers/MS18860302.2.15.1
Bibliographic details
Manawatu Standard, Volume XI, Issue 1648, 2 March 1886, Page 3
Word Count
161The Money Market. Manawatu Standard, Volume XI, Issue 1648, 2 March 1886, Page 3
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