THE MONEY MARKET.

Stratford Evening Post, Volume XXXIII, Issue 13, 13 May 1912, Page 5

THE MONEY MARKET.

MR. 11. BEAUCHAMP’S VIEWS. (Per Press Association. 1 ) Auckland, May IE Discussing the financial situation with a pressman, Mr. Harold Beauchamp, formerly chairman of directors of the Bank of New Zealand, expressed the opinion that the heavy do mand for money is exercising a hardening effect on money, for which reason ho thought the present time would lie inopportune for attempting to raise large loans either on the part of the Government or ihe municipalities. The restrictive policy _ being pursued by hanks and lending institutions in Australia is also having the effect of advancing the rate of interest over there, the reflex of which shows itself in New Zealand as a matter or course, fn fact, it would not he surprising to him to see interest on first-class mortgages touch 5.J- per cent, before very

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