MONEY TIGHT.

Evening Post, Volume CXIII, Issue 61, 14 March 1927, Page 11

MONEY TIGHT.

Experience of those in want of acconT. modation in Wellington and the country districts is that money is'very tight.--De* posits are not being offered to lendini companies in the .volume desirable- for meeting the demand Jor loans..-- The rates offered remain unchanged, arid, if there are any spare little lots of funds javaiU able for twelve" months or lesser periods, those rates do not attract: It" is felt locally that the banks are displaying mort than their customary conservative attitude towards advances and that they have been, or will presently be, impelled to. do so by reason of the decreased returns to come in from realisation of dairy prQr duce. ' :. .' '■

Wool is giving no anxiety, but, -as the latest Smithfield' prices show, there, ha* been a fall in the price of lamb o£ 'y&, and "mutton--is-; lower, in price .on. account of' heavier supplies and competition,. of cheap beef

Mortgages for large amounts of,.say, fivjL figures, with ample margin, rule at ft t» 6% per cent:, ; and up to .£IOOO at 7 per cent, lending companies offer loans for twelve months at 5 per cent., for six months at 4 per cent. Bank 1 overdraft rates, best accounts, remain at-6% pet cent., and bank deposit rates are 3% per cent, for three months up to twelve months, 4 per cent, for 12 months to 24 months, 4% per cent, for 24 months. —