MONEY MARKET.

Poverty Bay Herald, Volume XLV, Issue 14567, 1 April 1918, Page 6

MONEY MARKET.

'■ > - • ■!>■■-.• 1 . *?/,;;- '!. !"■ ■ . • The, main, feature of interest m fin- >, ancial circles at present is naturally the War loan, v which, is jionr ..oni-the market. • Nine, .million * five hundred .. thousand i: pounds, is wanted, arid ..applications close on AprjLl^ ..Wp are becoming, gc- , i ,e,ustomed to; -talk glibly-, . o£ - ;such .-large ;. sums, of money, bub it) is little short of V : wottderful,:w,ith what > ease so muckj 1 ■; money has ; beent raised m New-. Zealand foi* way loans and for, various undertakings conneoted with the .war ; the YiM,CA. has just asked for £100,000 . foiv^ar work, «nd'it got slightly. ovjer • that, apiount .m a very shortt time.' Previous irar loans .have been .< over-sub - scribed y?e have; no doubt -thai the present one will, be fully subscribed, but •' it' is. not.* sufficient for those capable of contributing to think that all., will be. well, every individual and every firm or ; institution must contribute, their share to ensure : the success of. tbe flotation. • , •ThafeiNew; Zealand js capable of raising tl^is sum -thare can, he no doubtpour exports are far m excess of bur imports, .and there, ave.yasii accumulations of produce still amsliipped, bave either beep parjd for^ or advanced, against by , the Imperial authorities* There !.". is, however), a large amount , of capital locked i\p ,:in., unshipped produce against .which there is ;no payment Or. advance, siich as frozen meat, tallow, hemp, and minor .items. , • . ,„• . • • '•'■■ Tfhe fact of war .'loan {h vestments bein? free of .income tax Ivap called forth adverse criticism^ from . certain quarters, owing .to this being essentially an m? ducement to the large. 'institutions,. i;o which the Government look^ f,6r the bulk of the amount. It has *been pointed out | tha^ £7 4s per cent, income, less the maximum income tax of 7s 6d m tbe £ , is required, to- net 4£. peu cent., apart „ from any working expenses.-rr-Trade Re- .1 viriw.- ' . '■ ' ■ ,', • *..1.....'., ."'.•■ ' V,