THE MONEY MARKET.
I learn on good authority (writes our Wairarapa correspondent) that ono of the principal reasons of the tightening of the money market Jjy tho banks is that the prices which are being received for wool do not nearly represont tho amount of tho advances made 111 somo .quarters by the banks, and that if prices remain as they- are tho stringency will continue for tho next year. It is fairly well known that during the past month representatives of the several banks have made a strict inspection of tho various bronchos, throughout, tho Dominion, with tho result that all tho availablo money is being called in. , A local banking authority who was questioned regarding this statement last ovoning was not disposed to attach much importance to tho matter. Ho admitted that there had been somo reclamation in certain quarters, but stated that this was not a very unusual tiling. Tho price of wool had fallen just as suddenly and just as low in 1.000, and there had been rcrlnmnt'" - i 1.-;-oa::hs then, lut a recovery had followed/ Aud no serious resulted*
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19080516.2.52
Bibliographic details
Dominion, Volume 1, Issue 199, 16 May 1908, Page 6
Word Count
184THE MONEY MARKET. Dominion, Volume 1, Issue 199, 16 May 1908, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in