COMMERCIAL.
THE MONEY MARKET. Messrs Chas.Pownall and Co., Scriveners Wellington, report, that negotiations, absorbing a considerable amount of outside capital, have: been concluded on Mortgage investment during the last month, the general rate ruling, on landed estate only, for sums in excess of £IOOO, 7 per cent. Securities on township properties, still command the higher rate, from 8 to 9 per cent; the supply of money offering on these transactions being very limited. We are unable to quote .any amelioration in banking stringency, but as the Victoria Four Million Loan lias, since our last report, been successfully floated, the Australian market will be much relieved, and combined with the low quotation for money at home, we shall look for considerable modification taking place of the existing pressure, detrimental alike to the trade and commerce of the country.
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Bibliographic details
Patea Mail, Volume VIII, Issue 1015, 30 March 1883, Page 2
Word Count
137COMMERCIAL. Patea Mail, Volume VIII, Issue 1015, 30 March 1883, Page 2
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