LONDON MARKETS.
EFFECTS OF DEAR MONEY
SHRINKAGE iN STOCKS.
DEPRECIATION OF THIRTY
MILLIONS
[INDEPENDENT PRESS CABLE]
LONDON, Dec
The latest issue of the ‘•Bankers’ Magazine” calculates' the shrinkage in representative stocks during December at .£30,000,000, as compared with £85.000,000 in the same period of last year. This is attributed to dear ino'ney, and extensive creations of new capital.
MONEY CONTINUES TIGHT. LONDON, Dec. 27 The Bank of England rates of discount continue unchanged, but money is much wanted.
The bank did a big business in loans during the week. The open money mar'ket discount rate for three months bank bills is 4| per cent., or i per cent, below the Bank of England rate of 5 per cent. Short loans are quoted at 4| percent.
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Gisborne Times, Volume XXXIV, Issue 3722, 7 January 1913, Page 2
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125LONDON MARKETS. Gisborne Times, Volume XXXIV, Issue 3722, 7 January 1913, Page 2
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