COMMERCIAL.

Wairarapa Daily Times, Volume VII, Issue 2163, 5 December 1885, Page 2

COMMERCIAL.

SHARE REPORT. Messrs Charles Pownall and Co., mortgage agents, Wellington, report the money market very quiet during the last month, the rate of interest remaining unaltered at 6 to 7 per cent on mortgage investment, Few transactions of any importance have been negotiated, borrowers of considerable sums, say, from £IO,OOO to £50,000, being unwilling to deal except at the lower quotation, wliich capitalists at present will only acccdo to upon securities offering such ridiculously large margins as to entii cly prohibit any further improvements on their stations for a term of ypars, The English money market in commercial circlos has experienced a further rise, and may now be quoted at 2J per cent. Firmer markets for produce generally prevail, and there is every prospect of a departure from the long existing stagnation, The annexation of Upper Burmah by the Indian Government will prove of the greatest importance to these colonies by removing the serious obstacle to the pi'opQßcd line of railway by Siam to and through China.