The Wellington Money Market.
MESSRS CHARLES POWNALL AND iCO'S REPORT;
Messrs Charles Pownall and Co. Scriveners and Mortgage Agents, Wellington, report an increased supply of money for mortgage investment, consequent upon the Government declara- . tion that there will be no increased property tax. The result during the last month has, however, been limited, and the principal business confined to city properties, which, when first class, ; are negotiable . at 6J per cent. Money has again fallen m Home market, the Bank of England rate to 2^, and the open/ market to 1£ per cent ; the result of the ; accumulation of unemployed capital. quotations now are 6j to 7 per cent, but with the rise of 20 per cent m i the value of wool,, at present London sales (just received), more confidence in A land investments will certainly follow, and we expect lead to a considerable influx of capital npon easier terms.
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Bibliographic details
Manawatu Standard, Volume XII, Issue 1743, 25 June 1886, Page 2
Word Count
151The Wellington Money Market. Manawatu Standard, Volume XII, Issue 1743, 25 June 1886, Page 2
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