MONEY MARKET.

Hawera & Normanby Star, Volume LXIX, Issue LXIX, 22 May 1915, Page 3

MONEY MARKET.

The supply of money locally continues ample tor all general purposes, and it appears probable that the "supply will maintain a satisfactory level for some time. The total of our exports for the year enaing 31st March last is recorded at £27,465,803, but we coEsider the staple lines were somewhat undervalued and that the real total would be fully a million higher than'this. The Minister of Finance has stated that the Customs receipts for the year to 31st March show a decrease of £260,000, so evidently our imports are much lighter —probably not much over 20 millions. This would leave a .surplus on our trading of approximately'B millions, which is entirely unprecedented in the history of the Dominion. The highest surplus on record is a, little under 6 millions in 1909-10.. This exceptionally heavy surplus means a large influx of funds, sufficient, to keep up the supply for some time. There is further evidence of the amount of capital avaiable for in-' vestment in the firm tone of the Stoelr Exchange quotations; also the Post Office Savings Bank returns show a very large excess of deposits over withdrawals of £754,724 for the last quarter, and £1,764,879 W th*> Uv^h-p months just concluded.—N.Z. Trade Review : May 20.