THE MONEY MARKET

Hawera & Normanby Star, Volume LXXI, Issue LXII, 13 May 1912, Page 8

THE MONEY MARKET

MR HAROLD BEAUCHAMP'S

VIEWS

BY TELEGRAPH—PRESS ASSOCIATION,

AUCKLAND, May 12

Discussing the financial situation with a pressman, Mr Harold Beauchamp, formerly chairman of directors of the Bank of New Zealand, expressed the opinion that the heavy demand for money is exercising a hardening effect on money, for which reason he thought the present time would be inopportune for attempting to raise large loans either on the part of the GoA rernment or of the municipalities. The restrictive policy being pursued by banks and lending institutions in Australia is also having the effect of advancing the rate of interest over there, the reflex of which shows itself in New Zealand as a matter of course. In fact, it Avould not be surprising to him to see interest on first-class mortgages touch 5£ per cent, before very long.