TOO MUCH MONEY.
A GLUT IN CHRISTCHURCH. (By TelegTap-t.—Press Association.) CHRISTCHURCH, Tuesday. A surprising position of affairs v. : as revealed at a meeting of the Navy League. It was reported that the League, had about £1,200 in credit, which it had hoped the City Council would take on loan. -The clvairman (Mr. J. J. Dougaii) however, reported that money was now so plentiful with the City Council that it could not itake the money as it already had more on offer than it could absorb. It was mentioned that some firms about the city, which were usually in a position to take money on deposit, would not do so because of the "' glut" that existed. Some surprise was expressed at •this state of affairs, particularly as the market" was so tight when borrowin™ was proposed. The league, so far as its f 1,200 was concerned, decided to leave its investment to the chairman and. treasurer, who were limited to the Bank of New Zealand and the Public Trustee for choice.
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Auckland Star, Volume XLIV, Issue 90, 16 April 1913, Page 8
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170TOO MUCH MONEY. Auckland Star, Volume XLIV, Issue 90, 16 April 1913, Page 8
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