The Nelson Evening Mail. SATURDAY, FEBRUARY 6, 1869.
MONEY AND TRADE ARTICLE.
Advices from England by last mail show a slight advance in the price of money, of about one-half per cent., the rate at the Bank having gone up in December from 2\ to 3, and still tending upwards. This may beowing to an extra demand for money at the Christmas holidays; but rates have been so cheap at Home for the last twelve months from the depression in trade, and want of confidence in investments of any kind ; that capitalists preferred to * ride their money ' rather than lend it. A reaction took place and cash could be had for the asking upon good security. It is going up again, and borrowers will have to pay an extra percentage. A. rise in the price of money will not affect trade prejudicially; on the contrary, it is expected to stimulate industry by ! bringing more capital to market. Wool. — Brokers and buyers are at variance upon the price of this * staple,' but there is evidently an upward tendency | in the market, and a penny or at least a half penny per pound advance j may be confidently depended upon by next advices. Tallow. — The recent rise has not been been met and prices will fall. Corn. — The corn market also is dull. Seven shillings per bushel being the highest price obtained in London for the best Australian brands.
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Bibliographic details
Nelson Evening Mail, Volume IV, Issue 30, 6 February 1869, Page 2
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237The Nelson Evening Mail. SATURDAY, FEBRUARY 6, 1869. Nelson Evening Mail, Volume IV, Issue 30, 6 February 1869, Page 2
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