COMMERCIAL.

Wairarapa Daily Times, Volume VII, Issue 1998, 23 May 1885, Page 2

COMMERCIAL.

I Messrs Charles Pownall and Co., mortgage agents, Wellington, report:—The money market was unsettled in the last month's interval, pending the decision of the Russian war question, Our latest advices, however, showing an advance in Consols to 99j. now leave little doubt that peace at any price has been for the present arranged. Vast accumulation of unemployed capital has likewise reduced English quotations for mercantile operations to the unprecedented-low rate of 1|- per cent., a fall which must have some effect upon the value of money in these Colonies. It should be considered, however, that these quotations are not likely to remain permanent, but are entirely dependent upon any fresh impulse given to trade operations, this' impulse, if peace is maintained, will surely ! arise from the'development of our South African possessions, which are now being vigorously pushed forward by the British Government, and, combined with the intended operations of the Central AfricanEuropean coalition, will open out a "gigantic territory for the employment of capifel, the greater part of which England will be prepared to supply. Below our present quotation,? therefore of 6 to 6£ percent, for large .or moderate sums on undoubted securities, we do think the market is likely to recede; on tjie contrary, it might poseibly harden if ,itvy considerable demaiuVcomes forward. • intending borrowers would thereforo act wisely in taking advantage of the present opportunity. » PRODUCE PRICES. The wholesale prices of produce in Masterton at this Me of.a as follows:—Fresh butter, lOd to lid ; egg?, J.s Od } bacon and hams, 7d to 8d; new cats 2s R retail, 3s; wheat 4s; cheese, 6d to Bs;' ppta- ( toes, 4s. ' | ■»■■■ ' MB*——M iIIIJUIipiIMIIII ■ J