MONEY STRINGENCY.

Auckland Star, Volume XLIV, Issue 76, 31 March 1913, Page 2

MONEY STRINGENCY.

GERMAN TRADE AND FINANCE. Advices to hand from Germany describe the great pressure for money in that country. The Berlin correspondent of the " Economist " wrote on February 13th: — "Traders are concerned about the general business situation. Bankrupt- ■ I cies increased to a noteworthy extent in January, and bankers' circulars are pointing to the fact that commercial houses are experiencing extraordinary difficulty in making collections.. Statej ments were made on Tuesday at the Duisburg Chamber of Commerce by an , important coalmine owner to the efi'e :t that the negotiations for the renewal of ! the syndicate are now in worse shape than ever, owing to the conflict of interests between the so-called ' ironworks collieries' and those not attached to iron J companies. Beside all this the dullness in the iion trade, so far as new business , I in finished products is concerned, is mak- .' ing itself felt on the Bourse more visibly. I Under the influence of all the factors above detailed, selling has grown more extensive in home shares. This was par- ' ticularly the case yesterday, when the ; provinces sent in pretty large selling or- | ders. indicating that the outside public I are again growing more concerned about ; the outlook and are parting with their i holdings. The money market has again ■disappointed all hopes of improvement. | The open m-arkct discount rate ha* further risen to o 1-8 per cent. (It has J since gone up to (i per cent.) The de- '; niand for advances at call has grown con-' I siderably heavier, -whereas it number of i j the big banks are calling in outstanding ! .credits. The meat famine in Germany j still continues to -attract much attention. ' \lt is true that prices for several kinds of | : meat fell slightly during January, hut j they are all still abnormally high. Permission to import meat from Russia i and other continental countries to cer- ; tain large towns has been exten-ded un- : til October, but a Socialist proposal to extend the concessions to othe: ! possessing recognised sanitary arange- | ments for dralinn , with fresh meat has , been defeated, although by so small a 'I majority as to cause much uneasiness in 1 asrrarian circles. The demand for a re- : duction in corn duties, and for the ahoI liUon of duties on anim-ai foodstuffs, is 'growing, and. since the present high ! prices are likely to continue with very little change. ?o long n.s the present system is retained, it will be. impossible in : the. end to resist the cry for reform j alomr these lines. To the results of the cattle census, which was taken at the end of last year, in the various States of the Empire, those of Prussia have nowbeen added. A small increase in oxen is recorded, although the figures (11,8;>6,----000), are still more than 200.000 below those of 190 S. The number of sheep has fallen. It is 200.000 below those of last year, and more than 1.000,000 less than in 1908. In swine there is an enormous drop of nearly 2.000.000, from 17.245.000 in 1911 to 15.453.000 in 1012. The other States show similar reductions ■ —in some cases even greater.