FINANCIAL OUTLOOK

Nelson Evening Mail, Volume XLVIII, Issue XLVIII, 14 February 1913, Page 6

FINANCIAL OUTLOOK

SPEECH BY MR MASSEY. BUOYANT REVENUE. BUT MONEY MARKET TIGHT. (Unixbd Press Association.) MARTON, This Day. Speaking at the Marton Show the Premier, referring to financial matters, .»aid that it was to be understood that there was no difficulty regarding ordinary revenue, as for the ten months ended January 31st it exceeded the revenue for th«* corresponding period of last year by- £382,000. His chief concern, however, was with public works, and land settlement promotion funds. He was pleased to say that difficulties i in that connection were disappearing. Liabilities the Government had been committed to when it assumed office for loans to local bodies had been reduced from £750,000 to £30,000. The Domi- j nion would now realise why it was necessary to send Mr Allen Home to arrange the finances. Short-dated debentures were piling up, and had been arranged for, also money for public works, Jands- for settlement, and advances to settlers and workers. Mr Allen's loan had been placed at 4 per cent at 98. "A BRILLIANT COUP." DUNEDIN, This Day. Tn local financial circles it is generally held that Mr. Allen has made a brilliant coup, where, at best, < .iy partial success was expected. CRITICISM AT HOME. LONDON, Feb. 13. - "The Times" says the underwriting of the New Zealand loan has been received with decided disapproval.. The patience of- the Stock Exchange underwriters is exhausted owing to the existing glut.