THE MONEY MARKET.

Wairarapa Age, Volume XXV, Issue 10713, 14 June 1913, Page 5

THE MONEY MARKET.

POSITION IN GERMANY.

HOARDING UP SAVINGS

(Received Last Night, 11 o'clock.) LONDON, June 13. Sir Francis Oppenheimer, British Consul-General at Frankfort, rereports that attention is being drawn to the ill-effects of a nervous public hoarding up their savings since the Moroccan crisis started international troubles.

The hoardings are so extensive as to endanger Germany's international boom banks, which are forced to keep larger reserves. Various means have been adopted to. relieve ..the pressure. Large factories are paying the weekly wages in small notes and efforts are also being made to popularise post office cheques. Probably the hoardings will gradually be restored, but the money market is not likely to be eased, as industrial concerns will seize the opportunity for fresh issues. If the Reichsbank is compelled to raise the already high rate the industrial boom will hardly survive. Paradoxical a« it sounds, many believe that the boom which two wars failed to kill, will be killed by peace. Others helieve that the liberation of fiftv millions of dead capital for military purposes, will instil life into man\\ Germany industries.

A FAILURE.

GERMAN AND PRUSSIAN LOANS

(Received Last Nicht. 11 o'clock:) BERLIN. June 13..

Loans amounting to £2,500,000 in Imperial Consols, and £8,500,000 in Prussian four per centums, are a fauIt is believed that half was subscribed. . i , . The Vossische Zeitung calculates that £8,000,000 wore subscribed.