THE MONEY MARKET.

Taranaki Daily News, Volume LI, Issue 299, 14 December 1908, Page 2

THE MONEY MARKET.

[ Friday's issue of lite Trade .Review sa\s : --"Though it cannot lie said that the re is any appreciable change in til'-' money market., it can at least he claimed thai, then.' is a distinct measure of brightening in the ontlonk. The improvement in the prices of wool ami the certainly of a record clip, together willr the prospect of an exceptionally heavy output of dairy produce and the excellent rates that are being paid for these commodities give promise of a substantial improvement in the total value of the exports of the Dominion for I'JUS-'J The price, of wool, however. ,till falls short of the values that ruled ill i!l(lli-7, while the exports of kauri gum and hemp are certain to show a very serious falling-ofl' from the ligures 'of Unit twelvemonth. There is. therefore, i;o hope of attaining the twenty million standard in the current year's exports. On the other hand, we certainly look to see a reduction i„ l|,e scale of our imports, but any bcnclit from this direction will not be I'i'lt for some little time. The Dominion is undoubtedly sound, but will have to be content for a time to go slow. The chief dillicnlty is experienced in connection with transactions in laud, which have reai-hod an unreasonable level of prices ill rural and urban properties, and may with advantage be brought to a lower plane. The Advances to Settlers Ollice is, we are informed, meeting applications for loans at the rate of C 100,01)0 ;l month, but are limiting advance* to CSOO in each case. The money used for this purpose is, it is announced, being obtained from outside the I) inion. "The rates for loans on freehold security rule, in the open market, from j'/i to li/L' 'per tent."