PRICE OF MONEY
SOME CURRENT RATES OF INTEREST.
The "Mercantile Gazette," in its compilation of instruments . registered under "The Chattels Transfer Act, 1908," gives some particulars of the rates of interest paid by borrowers for loan's of comparatively small amounts. Farmers appear to be paying from 5 per cent, (to His Majesty tho King) to 8 per cent- as a geu^ eral rule, but there are oases of as high as 10 per cent, and even 15 per cent. To a farmers' co-operative association a settler is paying 9 per cent, on live stock and chattel*
Billiard saloqn-keepers and taxi proprietors appear to pay round about 10 per cent, for their accommodation, but private owners 7 per cent, to 8 per cent, socured on their cars. A woodworker is paying 12i per cent, secured on machinery for a loan of .under £50. For loans made on the security of household furniture and utensils and musical instruments, the rate appears to be from 6£ per cent, to 8 per cent.
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Bibliographic details
Evening Post, Volume CV, Issue 123, 25 May 1923, Page 8
Word Count
169PRICE OF MONEY Evening Post, Volume CV, Issue 123, 25 May 1923, Page 8
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