THE MONEY MARKET.

Auckland Star, Volume XLIII, Issue 58, 7 March 1912, Page 7

THE MONEY MARKET.

TIGHTNESS IN CHRISTCKURttfI. A TEiIPOKJuRY MOVEMENT. [By Telegraph. Own Correspondent.) WirdSTVHCIICH, this day. There has becu a noticeable tightness a the money market iti I hristchurch for some time, and those who are in dost touch with financial matters have hecn speculating in regard to the causes that have brought about the position. I'pto the present time the rates of intete?t bnvc not risen generally, but there arc signs that they will harden, Mil there is a feeling aroungst businessmen that it is wise to follow a policy of repression and caution, keeping things '.veil in hand. Loss money is available Ho* than there u.is formerly for mortpgtpurposes, and some individuals and tans ire experiencing n slight difficulty ift viiiAiUiig their finances. As far as top batik* are concerned the tightness is mure threatened than actual. It may be felt to a greater extent t'lroujjht the hnks in the middle of the year, but on the other hand the disposal of the remainder of the seasons' produce may bring in better condition-. Apparently, i number of causes have been operating. In the first place it is thought that the industrial unrest in the Old Country, demonstrated by the gnmt strikes, is making itself felt, iu this part of the world. Another important ennsc. it is Miered, i s the relative positions of the Dominion's imports and exports. The imports have been greater than the exports, and consequently morn money is going out than is coming in. When sthdyihn; this aspect, of the question o "wd deal of consideration must be Hen to the motor car, which ntrw occuP»s a Sufficiently important place in modern life to lie a factor in disturbing the balance of trade. There is the Mpital cost of the car. to which must be added running expense.-, including tyres •id petrol, and finally repairs and accessories. These absorb a considerable fortiori of surplus incomes. Avhicli, before w motor car ca%io on the scene, wa.9 '"liable for investment, and was usually placed on mortgage. , sums of money lately have been inverted in blocks of suburban land, pur 'hosed for subdivision, and this mav ■We also had an appreciable effect oil MB tottl sum available for investment fe-rt is considered superThe!.local political crisis, which h.™ 'rast itself upon everybody's attention, L"ft**4 a-s another cause, but the C,* ,b " is thal il h »* kid no nona gentleman who is brought into *rt touch with landowners and lonWv r. P , VPr ' statcd that he *lv t,at Somp !ar * p investors or Mom a " t ! c, I > ! tin ? 1l "' 'H-cession of the : lit, ? V<n:er - rpfra! "«' fr ™ ri., t, "'. h j" ' ,n:,P (~!,t ™*» ™"M *ffc« md? in th. »"i s " m "-'' '"oner available Ciifr*"' Apartments, thai WaVrnnL B *™*« de.ma.nd for fe t now L T ° f '"" , ppr ° ent ' mZL . rrf, "niment lending dertrtmwti \• " " ,mp bv t,,t,sp de•«le. % opprat,n !r »pon a more liberal tain M that "the rl° " ri fpflr is ent <"" "*■ tenmoJr,? t,fl * t " pss ""' he more the Do-