MONEY MARKET.

Poverty Bay Herald, Volume XLIV, Issue 14284, 28 April 1917, Page 4

MONEY MARKET.

I T-* — ' 1 TheThankin* returns' (stales the Trade Review) reveal' a 'very satisfactory rinan-. cial state of ".affairs, the supply of funds available m the. hands of the banks being ample for ali reasonable demands for general purposes as the following comparison of -the deposits and advances shows:— -*■••- . • March -191? Dtfc.'lMG March 191G ' £, £ £ Deposits ... 34,356,540 31,260487 31,274,053 Advances ... 27,694,930 26,966,630 23,733,893 -J__XCd£_3 -Of ■ »."■-"'' «*■ *"- * - ' ' ' • Deposits' £6,661,610, £4,294,187 £7,540,160 ' The surnlus has decreased m the year by £878,550, although -the deposits have increased by over three millions. The reduction-is therefore due to the heavy growth Of nearly four millions ih the advances, "tvhich is due to difficulty m getting our produce '•" away, ■ to increased value 61 out' lmports; and to general ac tivity 'of 'trade industry and : enterprise. The fact that -so little effect, is" to be' seen of ;the. raising of the war loan goes to show that a- -large. part- of it has simply circulated locally, and there should be no difficulty m raising- another such loanthis' year, "without unduly disturbing the l6cal money market: " . Tne^Drlncipal • trouble eonf rontirig .'the Dominion- at the preterit' is the urgent need' ''of more ship&ing' 'space to remove our produce of which there is at present probably over 'six 'millions' worth awaitihgespace for? shipment. This has caused aii apparent shortage ' m our exports, while, the enhanced chst of goods has re* suited m a big-- increase m our exports, as "shown m the • following comparison for. the y.earV •endfed .list March:— ' '■"'■ ■ y ... '._ 1916-JJ ;. .1915-16 1914-15- --■--'—--•£ £ £ Exports .*.. 30,534,210 33,468,391 27,465,80 Imports ... 25,425,718 21,308,431 19,805,057 Excess .of-- ' ' Exports' .*.. £5,108,492 £18,159.960 £7,G60,74C •The surplus shows a material reduction, »ut : Is'still a, satisfactory one, and vve look to gee these .figurt^jftake a. better showing when- ''the export season is -dosed. •"'' -••>■* X.. : : )■■:>. ■ mmmmmlmmmmmmmmmmmm '