THE MONEY MARKET

Taranaki Daily News, Volume XXXXV, Issue 210, 1 October 1903, Page 3

THE MONEY MARKET

——* PBHSB ASSOCIATION. London, September 2d. The Financial Times says that taeither publio nor underwriters will look at colonial three per cen's, and adds that it would be advisable for Victoria to cOpy the example set by the Oapa in 1883 and issue a per cent loan with a ctirrency of ten years, with the option 6E converting after three; years into inscribe'! three per cen's nt, ill 3 for every £IOO nf stock. lr, I that it would be butter for fci <> colony j to issue a loan. It would bo more' likely tti be absorbed if t colony "vese to confide in inv -tors thiu it' it negotiated wfoh a pt e. The Times says wesk " bulls " cfiered Consols in anticipation of a high bank ; rate to-day. The Standard declares that fears of fc high bai>k rate depressed Cul-su!*. Among the influences depressing the colonial stock market is the uncertainty of Victoria's method of dealing with Urge loans maturing for piyment in January. £o-day's quotations for colonial stocks are i— Victorian threes 85; £few South Wales fours 105; Queensland fours 103J, threes 86; Tasmanun threes 89. Three months bills are discounted at 4 per cent. Lokdon, September 29. i Consols opened to-day at afterWards firmirg at 87£. Received 1. 0.56 a.m. London, September 30. The Times says it is probable an offer will be made to tbe holders to renew the Victorian binds for five millions, maturing in January.