THE MONEY MARKET.

Dominion, Volume 2, Issue 583, 11 August 1909, Page 8

THE MONEY MARKET.

."- wy!.-- *— — / A-BANK MANAGER'S VIEWS. ■?. jv (By Tolegrapb.—Special Correspondent.) 'Auckland, August 10. v In. reference'to the statement of the Hon. T.' Mackenzie at Pelmerston'.North; on- Satur-' ;day,:as to the financial'jiositidn of the D<> minion,' a well-known ba'rik; nianager informed' a''."Herald"- reporter/yesterday that tho ex-' cess .df • exports 'over, imports : as compared with last .year; seemed to .him. .imaginary. With 'regard to the Minister's statement that the' money-market was now relieved and that already money at reduced'rates was avail- , able for all sound investments, this gentleman stated' that,' although the' market was now a' bit' Easier 'with a' good possibility of better times in 'the future, there, was, nothing to; justify .borrowing.,- Money, 'was still.' as jdear ;as ever, > arid : was still very . hard -to get .at :six\per'-.c'ent./'' There' were at this very,,tima ; ' several' local; which .were ivery.:anxious to money, .but - could not obtain it.. - • Again, it was almost, impossible borrow: on country security. Ho quoted one case he knew/in which £12,000 was required on a £30,000 country, security per cent, but the. money could'not .boobtained. . Of course, a small amount - like £200' or £300 might. fairly . easily, be obtained.. : Asto. Mr. Mackenzie's statemeutthat the past year's figures had been felt on' banking--to.-.tho extent-of:.nearly £1,000,000, this had''been counteracted by the. fact that that amiu'nt- had''soon .been swallowed up -by several- big municipal loans : that had 'been' floated; -; • /'•;,■ - •