COMMERCIAL.

Wairarapa Daily Times, Volume VIII, Issue 2207, 30 January 1886, Page 2

COMMERCIAL.

e Messrs Charles Pownall and Co., mortgage agents, Wellington, report:—The commencement of the new year has so far brought little preceptible change in the value of money on mortgage investment, quotations remaining as they have been for the last twelve months—from 6 per cent to V per cent. Capital continues in sufficient supply to meet the present moderate demands, though'the usual remittances from Australia and the Old Country are at present considerably curtailed. Our advices from influential sources in London state that the amount of unemployed money seeking investment is unbounded. English property has fallen 50 per pent; while in Ireland land is practically valueless. The present principal drawback to direct operations here Ib the fear entertained that the interest upon the further future millions now on the' " tapiß" to be borrowed can only be met by incroased nroporty tax, which would seriously affect the position of the mortgagees, That, combined with the low price of wool, tallow, and mutton, creates some d'struat over our future prospects. Taking into consideration the very hard strain upon our sta-tion-holders, large and Bmall, during the last year, with all these low prices to contend with for their produce, and the straightforward and honorable manner in which their engagements have notwithstanding been met, we do not, however, think any prospect of increased taxation need create any distrust for the future.