"GLUTTED" MONEY MARKET
OFFER OF LOAN BY NAVY LEAGUE REFUSED. By Telegraph—Press Association. Chirstehnrch, April' 16. . | A surprising position of affairs was revealed at a meeting of the Navy League. It was reported that the League had about £I2OO in credit, which it had been hoped the City Council would take on loan. The chairman (Mr. J. J. Dougall), however, hnd to report that money" was' now so plentiful with that body that it could not take the money, as it already had more on offer than It could 'absorb. It was mentioned th*t some firms about the city which were usually in a position to take money on deposit would 'hot ttow do .so because of the "slut'' that existed. • Some surprise was expressed at this state of affaire, particularly as the market was so tight when' borrowing was m question. The League, so far a* its £I2OO was concerned, decided to leave its investment to the. chairman and the treasurer, who were limited to the Bank of New Zealand and the Public Trustee for i .choice*;
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https://paperspast.natlib.govt.nz/newspapers/TDN19130418.2.11
Bibliographic details
Taranaki Daily News, Volume LV, Issue 280, 18 April 1913, Page 3
Word Count
178"GLUTTED" MONEY MARKET Taranaki Daily News, Volume LV, Issue 280, 18 April 1913, Page 3
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