COMMERCIAL.

Wairarapa Daily Times, Issue 2490, 3 January 1887, Page 2

COMMERCIAL.

:■ Messrs Charles Pownoll and Co. mortgage agents, Wellington, report that the money market for the last two months hsa roraamed completely stagnant, and transactions in mortgago investments of the slightest importance have been negotiated, owing to the simple fact that the "banks, from the jhigh ratea oSoring for deposit, have Engrossed till the share capital which wohld have been otherwise employed. Soma trust money, for which Per cent has been demanded, _ and ascepfced on high-class town securities, has baen placed, limited, however, to very moderate amounts ; while landed estates of, the very beat description remain completely! isolated, much to'tlipir detriment. : probably the new year, with fall bank coffers! 'may bring the - desired relief, but at present the banks are completely wasters lof tho situation,' I'hat the wual market at home, in. tho absence of'foreign buyers, lma fallen the hands of the old syndicate, who/ control prices,' is Very obvious, but the great confidence displayed in Aiißtmlian porahasas and tbe limited supply of Ih'p;' w material, tfHI 'certainly act as a -fitrimiorit check upon any true decline invalus, and we fully expect not only to find a recovery, but an. increase upon full rates last realised... . .> , v t ' '