MONEY REPORT.

Hawera & Normanby Star, Volume XXVII, Issue 2762, 3 July 1894, Page 2

MONEY REPORT.

Mr C. E. Major, mortgage agent, reports: — The Bank of New Zealand episode has come and gone so quickly that numbers of the morbidly inclined are disappointed at the rapidity with which the business has been settled. The Government, of course, take and are entitled to first credit for their prompt and deoisive action at a most critical time, but tbe Opposition in Parliament are equally deserving for the ready manner they saw into and accepted the position, and helped to pass the necessary legislation to make stable the finanoial institution so inter* woven with the colony's finances, for good or evil. Mobi of the members of Parliament were aware of the positive soundness of the bankc and therefore did not hesitate to aooept the liability attached to granting the required succour. No time has elapsed to give opportunity for gauging what effect the event may have in tbe direction of affecting money available for investment upon mortgage. It will doubtless induoe some to seek mortgage investments as being safer than bank shares or than placing money on deposit, no matter how good the corporate body may be. Tbe demand for money, although decreasing, is still in excess of the supply, with the reßult that rates are maintained. I hold money to advance upon good rural seonrity for large earns, at from 6 to 7 per cent., and upon the same class of security for sums under £500 at from 7£ to 8 per cent.