MONEY MARKET.
Messrs Charles Pownall and Co., scriveners, Wellington, report that since their last monthly quotation a decided rise in the value of money has taken place, fully equal to £ per cent., with a further hardening tendency. A special sum of L 30,000, required by their firm on unexceptionable security, was only negoti-
able at 64 in place of 6 per cent.,,hitherto the current rate demanded. Present interest charges must therefore now be quoted 64 to 8 per cent., adjusted to the larger or smaller amount required. The supply of Home and foreign capital for mortgage investment is more limited, and should the war already commenced with Egypt spread over Europe, borrowers may probably have to accede to still higher terms.
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Bibliographic details
Patea Mail, 19 July 1882, Page 3
Word Count
121MONEY MARKET. Patea Mail, 19 July 1882, Page 3
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