THE MONEY MARKET.

Auckland Star, Volume L, Issue 69, 21 March 1919, Page 5

THE MONEY MARKET.

Tho producing season is now welll advanced, and a large part of the produce has been realised on by 6ale to the Imperial Government. Up to date five millions has been paid out on this j season's butter and cheese, eight millions] on wool, and a further large sum on meat. Payments by the Imperial Sup-! plies Department on all classes of pro-1 dure from January 22 total over ten i millions. The bank returns for the December quarter showed an excess of deposits of nearly two million, and with this further heavy accretion of funds, besides the realisation of other classes of produce, the banks are fully supplied with plenty of money, available for all ordinary requirements. In many oases the Government has been acquiring properties for returned soldiers and paying off existing mortgages before maturity, and this has been done to an extent to cause some discom fort to building companies and others wha lend largely on mortgage. Tho result of this is that these institutions find themselves with a surplus of funds on hand for which there is not sufficient outlet except tying it up for a long period in war loan. Another loan is to be raised locally by the Government, but its flotation has been postponed, though we understand some subscriptions are being accepted now, and there should be no difficulty in raising the money without any disturbance of the money market.—"N.Z. Trade Review."