MONEY REPORT.

Hawera & Normanby Star, Volume XLVIII, Issue 8164, 1 March 1905, Page 3

MONEY REPORT.

Mr (.'. E. Major, mortgage agent, re ports: The statements in my last morith s report as to money becoming more plentiful is borne out by the latest advices from London. Capital is at present accumulating more rapidly in England and France tne latter country has just agreed to lend Russia another 32 millions at 5 per cent.) nan the means of its investment, and with the result that stocks of all kinds are steadily increasing in value. Money has become so plentiful in London that a reduction in the bank's rates of discount '<a predicted. There is almost 12 millions more of coin and bullion in the Bank of England than was the case some few weeks back. This means that Colonial Stocks must rise in value and find favor in the eyes of investors. The time aplears to be not far distant when the colonies can again if necessary borrow for •lecessary works at lower rates than havn •luring me past five or six years obtained. With sustained good prices for our produce and the cheapening of money in the Home market it must certainly become easier here. " Locally money is not plentiful, there being a greater demand than supply althougli good securities and good rates are offering. I find more difficulty in negotiating local advances than has been the case for many years past. I "ould readily invest £25,000 at good rates •ipon the very best freehold and leasehold securities.