"MORTITE."

Dominion, Volume 3, Issue 668, 19 November 1909, Page 5

"MORTITE."

SENSATIOKAi • BISE IN ■ PBIOB 'OP. BHAEEB. 7 Correspondent.) -• 1......; Chnlstchurch,. Noyembßr .18.; Oiio of the principal subjects of conversation amongst commercial mou in Christcaurch ju6t now 18 ;tho...sensational; rise -ia theiprico of shares-in VMortite,"-an explosive whiohie under offer to>the-. British Government. The:subStance '.was • discovered -, in Melbourne,' and' a syndicate was formed to deal, with it. .The price , of shires in "tho syndicate Was, fixed at £10 each'.' •■■Only 300 shares were , issued, 200 in' Australia' and, 100 to New Zealand,. most-'■• of the' Now Zealand ones'being taken' up in'Ohrist' ohuTch. Shares have lafely been selling throughbroilers in this-city, says; the ."Times? , .at.£3o,; £50, £60, and £70, and in one case half a share, was sold for £50. One man'is reported to.have offered £600 for' a'. share, and the holder of someehares etatcs that ho would refuse a muchv larger sum. These prices have been quoted on account of thj prospects "llortito" is believed, to possess. -A leading.member of the syndicate went to London to float a syndicate'there to buy, the colonial syndicate's rights 'for £300,000, and half the price paid by the Imperial Government in the event of a purchase being made. A few days ago it was announced that a cable , message had been received from London Baying- that ■ the London notation of -the svndtcate had , been- "assured." .Although the-.in-formation is indefinite/ the promoters take. ,it as iin announcement that; the sale to the London syndicate haei been brought: about.: It is- stated that the Imperial. Government, if;ltcontidere the proposals, will, be askedjfor ~p, yam . of ttoney b»wrewi a - ffliUloa wu3 hro oik Hant'otmaw. , , ~..- ;,... '-:■..■ ■■....•\ : ±;, ;•=