LONDON MONEY MARKET.

Hawke's Bay Herald, Volume XXXIX, Issue 12951, 28 December 1904, Page 2

LONDON MONEY MARKET.

The following interesting extract is from a private letter received by the last San Francisco mail hv Mr J. W. Walker, of Auckland, well known in connection with mining, from a prominent financier in Bondon’“Here (hero is a distinct improvement in the general markets, and it looks as if the long sphere of depression (in the money market) is coming to uu end j indeed, that it 'has ended. The irresistible Japs havo just- floated a loan of six millions in London, and today (November 16lh) it- is announced that applications have come, in for 70 millions sterling. There's money 'somewhere. But there's no sign of the end of.Hie war, though I don’t think wc-ftliall have to take a hand. Our case agaik .;. Russia will not, in all probability, come to that, although it has been "very neat it. At- the last moment the good sense of the Czar stopped the firebrands who are always round him. The best friends to peace in this matter have liecn the French Government, and they have used tlioir influence in St. Petersburg to some good effect. The AngloFrench agreement is going to work milch more than appears on the surface. Botli countries are determined to carry it oven further when the time arrives, and it will quite alter (tic complexion of things in Europe. When Hie war is over, I think you will find it will lead (o an understanding between ns and Russia in regard to Persia, Afghanistan,' Constantinople, and other tit-hits waiting to he devoured. Attention is going to he devoted to removing all friction between England and Russia, Our Japanese alliance has two years more to run, and it wilt probably he renewed with much closer articles; that it- will bo an alliance covering all contingencies. That will put a stop to the cheerful policy of some European Powers, of gettinu a missionary killed in China, and then cutting off snippets of her ground by way of compensation." *