INTEREST RATES
HARDENING TENDENCY LITTLE CAPITAL AVAILABLE DUNEDIN, June 8. The opinion that there had been a slight hardening in interest rates during the year was expressed by Mr. G. R. Ritchie, chairman of directors of the Trustees, Executors and Agency Company, Limited, at the annual meeting to-day. Mr. Ritchie said it was believed there was very little money offering for the State Advances Corporation issue of an unspecified amount for seven years at 31 per cent. “There has been little activity in local bodj' isues during the year,” continued Mr. Ritchie, “and it is not likely that new capital will be made available for local bodies, outside of the four main centres, as long as the Loans Board adheres to its present maximum rate of 31 per cent. New Zealand interest rates are usually a little loweg than Australian rates, and the rise from £3 17s 7d to £3 19s Id gives, I think, a fair indication of the trend in the market during the year. The report and balance-sheet was adopted.
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Wanganui Chronicle, Volume 80, Issue 137, 11 June 1937, Page 11
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173INTEREST RATES Wanganui Chronicle, Volume 80, Issue 137, 11 June 1937, Page 11
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