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REPLY TO THE HON. T. MACKENZIE.

(Fkom Oub Own Coerespokdehtj

AUCKLAND, August 10. In reference to the statement of the Hon. T. Mackenzie at Palmerston North on Saturday as to the financial position of the Dominion, a well-known bank manager informed a Herald representative yesterday that the excess of exports over imports as compared with last year seemed to him imaginary. With regard to the Minister's statement that the money market was now relieved, and that already money at reduced rates was available for all sound investments, this gentleman stated that, although the" market was now a bit easier, with a good possibility of better times in the future, money was still as deaT as ever, and was still very hard to get at 6 per cent. There were at this very time several local bodies which were very anxious to borrow money, but could not obtain it. Again, it was almost impossible to borrow on country security. He quoted one case he knew in which £12,000 was required on a £30,000 country security at 6 per c«jt., but the money could not be obtained. Of course, a small amount like £200 or £300 might fairly easily be obtained. Ab to Mr Mackenzie's statement that the- iiast year's figures had been f»-t on banking to the extent of nearly P.I 000,000, this had been counteracted by the f^ct that that amount had soon been fiivaUowe \ up by several big municipal loans that had been floated.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/OW19090818.2.289

Bibliographic details
Ngā taipitopito pukapuka

Otago Witness, Issue 2892, 18 August 1909, Page 53

Word count
Tapeke kupu
245

REPLY TO THE HON. T. MACKENZIE. Otago Witness, Issue 2892, 18 August 1909, Page 53

REPLY TO THE HON. T. MACKENZIE. Otago Witness, Issue 2892, 18 August 1909, Page 53

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