A TIGHT MONEY MARKET.

Stratford Evening Post, Volume XXXVI, Issue 24, 2 June 1913, Page 5

A TIGHT MONEY MARKET.

"SHORTENING SAIL." By Electric Telegraph—Coptrighi [United Pbkss Association. 1 (Received 8.15 a.m.) London, June 1. The Financial Times states: "Ther i 3 a tacit agreement amongst th> leading underwriters, to abstain froi? further business until the glut in nev securities is absorbed. The join stock banks in one or two cases hav< been taking steps to stem. the tid of fresh borrowing by the public an thorities. If a respite be given, th natural elasticity of the stock mar kefs will soon reassert itself." The Daily Mail states that scarce], an underwriting house in the city ha not had seriously to consider the question of declining fresh, oblign tions . The market is almost cquall; congested, and relief cannot be ex pected without a slowing down o' trade, the widespread prosperity o which is at the root of the scarcit; of money.

AFFECT ON COLONIAL LOANS. (Received 9.35 a.m.) Adelaide, June 2. The Premier (Mr Peake) cablet! from London that the money markc was very hard for colonial borrowing being disturbed by large foreign loaur The high interest made it lmpossibi to float a loan on advantageous term: at present.