MONEY MARKET.
Wo (Trade llevicw) are still without quotable change in this market, though we hear that (lie question of a reduction in the rates for deposits is under consideration by the banks. The rates given by banks in New Zealand are now 1 per cent, higher than those paid in both Melbourne and Sydney, and we can.seo 110 good reason why this should be the case. While the banks are giving 5 per cent, for twelve-month deposits, Building Companies have to oiler 51 per cent., and oven at that rate do notiind the supply equal to the demand. In the open market there is a fair supply obtainable at 65 to U for advance 011 mortgage of real estate, but lenders are somewhat exacting in the matter of margin of security, It is to be hoped that the banks will sec their way shortly to mako some reduction-in the deposit rates,
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Wairarapa Daily Times, Volume XV, Issue 4724, 18 May 1894, Page 3
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152MONEY MARKET. Wairarapa Daily Times, Volume XV, Issue 4724, 18 May 1894, Page 3
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