IMPROVING MONEY MARKET

Waikato Times, Volume 94, Issue 14773, 12 October 1921, Page 2

IMPROVING MONEY MARKET

HARBOUR BOARD LOAN. ALMOST FULLY SUBSCRIRED. The outstanding feature of the money market is the confident tone prevailing during the past few weeks, making it easier for borrowers. Mr Massey states that a small loan guaranteed, by the Dominion was recently placed in London at 99 as against 90 a few months ago, both returning the same rale of interest, while shortdated Rrilish Treasury Bills were issued last month on a basis of just over 4j per cent. It is therefore evident that discount rates arc falling and those who have cj.pltal to invest should consider the fine diividend-yielding securities now available, and make their choice before it is too late. One of the safest investments that could be found is the Auckland Harbour Board issue of debentures. The security is unquestionable, yet the Board offers r>J per cent Snterest per annum for a period of 20 years. Being issued at 94, the full return, including redemption, is actually C, per cent. The obvious attractions of tins debenture issue have been readily appreciated by the public, for to-day l°ss than £IO,OOO remains to ire subscribed, it is confidently anticipated that 'his nmount will be applied tor 'ln the next two weeks and no lime should therefore !>•' lost, by those who wish to invest their money to such good Advantage. Subscriptions in sums of £9't for eacji £IOO debenture required should lie sent lo the Secretary, Auckland harbour Board, P.O. box I-.'.".'.*. Aurk land, from whom copies of the prospectus may also he obtained.