COMMERCIAL.

Manawatu Times, Volume VIII, Issue 174, 31 January 1883, Page 2

COMMERCIAL.

Messrs Charles Pownall and Co, scrivener. 1 ?, Wellington, report a considerable increase iv the demand for ruouey during the last month, wuh »n m uificieut supply of capital, applying only to Bciill sums offering for investment. For applications under £3000 the rate of interest remains unchanged — nam ly, from 7\ to 9 pv.r cent, on an increasing scale tor the lesser, amount, but m excess of t'ds quofHtion, and on broad acres only, (business) transactions for a considerable amount have been negotiated as low as 7 per ceut. Our opinion, however, based upon the following grounds, is 3'rongly m favor of cheaper money souu prevailing from a more plentiful supply of outside capital: — The new loan subscriptions were for more than one-half the amount required, at an average of about 4 per cent. Nothing can more clearly defiue the txidtence of strong faith having now been established m the Home market a» to the vast resources of this great country. When, therefore, present hi^h quotations of the value of capit d for mortgage investment obtain circulation there, we may naturally expect that a very considerally supply of it will be furnished for taat purpose The prospecc oi very good returns for our wool and grain must likewise strongly tend to disestablish the present existing money pressure, which banking iufluen^e is aloue responsible for.