COMMERCIAL.

Woodville Examiner, Volume 3, Issue 218, 8 December 1885, Page 2

COMMERCIAL.

Mr W. S. Seavey, land agent, Napier, reports having had frequent enquiries after Woodville property this week, and that town sections are rapidly increasing in value. Four quarter-acre allotments in rural section 74, Woodville, were sold yesterday as follows ;—Subdivision No. 117, £45 : No. 118, £3O ; No. 115, £3O ;No. 112, £3O, C. POWNALL & CO’S MONEY MARKET REPORT. Messrs Charles Pownall and Co., mortgage agents, Wellington,report the money market very quiet during the last month, the rate of interests remaining unaltered at 6 to 7 per cent on mortage 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, which capitalists at present will only accede to upon securities offering such ridiculously large margins as to entirely prohibit any further improvements on their stations for a term of years. The English money market in commercial circles has experienced a further rise, and may now be quoted at per cent. Firmer market for produce generally prevails, 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 proposed line of railway by Siam to and through China,