COMMERCIAL.

Patea Mail, Volume VIII, Issue 978, 2 January 1883, Page 2

COMMERCIAL.

Messrs Chas. Pownall and Co., scriveners, Wellington, report a more active demand for money since their last month’s quotation, rates being fully maintained from 71 to 9 per cent for small and medium amounts. The information wo then afforded, regarding the probable arrival of English capital for mortgage investment proves correct, and it has already somewhat assisted in casing the market, the larger suras required if the security is very high-class now being negotiable at 7 per cent. 'The banking influence, to meet immediate wants, continuing the pressure upon their customer's, has naturally a damaging cifect, not only upon the customers in this country, by acting as a decided chock on their intended operations. After a long and trying interval of depression, most manfully fought against, the assistance that might now be expected, is not only denied by this great monopoly of monied power, but the public, when least prepared, are called upon to make good any and every existing deficiency, English capitalists will, we have little doubt, now that the superior value of New Zealand securities are becoming so well known, realise to themselves the advantage of at once securing the high rates of interest this unnatural pressure has pioduccd, and by thus opposing the source from which it has originated lower them.