LONDON'S MONEY MARKET.

Auckland Star, Volume XLIII, Issue 142, 14 June 1912, Page 5

LONDON'S MONEY MARKET.

TOO MANY INVESTMENT ISSUES LONDON, June 13. The '-Financial Times" says that in view of the attractive terms offered the result of the New Zealand loan indicates that the market for investment issues is overfed.

DEMAND GREATER THAN THE STTPKLY.

PBiTME MINISTER'S bpiXION. Seen by a, "Star" representative this morning, on his arrival in Auckland, the Prime Minister (the Hon. Thos. 3<faekenzie) ssid that be considered the flotation of the loan satisfactory under the circumstances, for, as -the "Financial Times" remarked, the money market appe3.red to he considerably over-fed. There was a greater demand for money than there was money available. Apparently accumulated profits were not sufficient to meet the increased demand for capital. Canada was this year asking for 50 millions of loan monies, and China between 50 and 60 millions. These two countries were asking for a sum equivalent to about half the total loan ■money wEich was advanced last year, which was 191 millions. The whole world was experiencing a period of prosperity, and was demanding loan money. So far as New Zealand's loa.n was concerned, the critics might talk as much as they liked. The question was, could they have done better? Had more been paid for the money than its value? Was the money required? Were the people in this Dominion lesseningtheir demands for money? Having put--these queries, in defence of the Government's" policy in regard to this particular 3oan, the Prime Minister laughingly concluded with the -qnotation of an old. Scottish, pro-verb? '%ald (maids' -bairns* ire aye/-wee& -bred." >