Greymouth Evening Star, AND BRUNNERTON ADVOCATE. MONDAY, JANUARY 7, 1901.

Greymouth Evening Star, Volume XXXI, 7 January 1901, Page 2

Greymouth Evening Star, AND BRUNNERTON ADVOCATE. MONDAY, JANUARY 7, 1901.

NEW ZEALAND SECURITIES. Fi:om a commercial aspect, the position of New Zealand—if colonial securities on the London market, are to be taken as any guide—shows a marked improvement as compared with twelve months ago. In making a comparison we have a very good guage in Imperial Consols. The January 4th, 11)00 quotation was £9B £, whereas last Saturday’s value was £97, showing a fall of 30/- for the year. Now Zealand stock on the contrary all shows an advance, the figures being : - Jan 1900 Jan 1901 N. Z. 4%.. .. £lO7 £ll3 N. Z. 3J% .. 103 105 i N. Z. 3 % .. .. 94.2 98 It will thus be noted that our four per cents have advanced in value £6, three.and a-half 45/-, and threes C5/-. This is a most substantial increase and taken in conjunction with the fact that Imperial Consols have fallen 30/indicates that our finance stands very firm at Home. It is a noticeable fact too lh.it notwithstanding Australia’s Federation, New Zealand securities as published in our Saturday’s issue shows that the colony stands at the top of the list, the quotations being—~N.ZJNSW| vTq7 S.A. Qu. w.a £ £ £ £ £ £ Four % 113 113 108 J I '7 3J % 10521 103102 i 106 103 103 Three % 98 I 100 j 97 94 - - I I 1 In three per cents New South Wales heads, and in three and a-half South Australia is top, but upon the three NeW Zealand is first £316 15s, New South Wales second with £316 10s. South Australia has no four per cents, but in the two other securities is 75/-

below Now Zealand, while Victoria is X‘s 15s behind this c dony. With the bright outlook before the colony at present, the close of the first year of the century should see a still* further advance.

LAKE VIEW CONSOLS. Tub Globe Finance Corporation about which wo have hoard a good deal lately in its dealing with Lake View Consols is not a strong corporation, and its transactions or rather the transactions of some of its members with “ Lake View ” stock cannot be well regarded as other than “ plunging,” in a wild effort to create “ a corner ” and secure a handsome profit. In such transactions there is always a great deal of risk—a largo pr .fit, or almost certain failure. The latter appears to have been the result with the Globe. But the stock upon which the wild gamble was indulged in cannot be regarded as a safe investment, whatever may bo thought of it, as a vehicle for “ carnering ” and gambling. The Sydney Bulletin says of the concern—- “ Lake View Consols ; 2778 tons sulphides and 3614 tons oxides for c total of 56660 z. Working cost LI 1,966, Mine development, L 8292 On machinery and plant L 3190. Total month’s expenditure, L 18.418 ; leaving a profit of only L 2402, and when the cost of running this concern in London and the numerous items of other expenditure not included in this return are allowed for, there will be nothing left on the last month’s output anyhow ! Shares Ll 5 each, and there are only 250,000 of them—which represents a market value of 3J millions. That is much higher than the Boulder, which is turning out more than double the gold and which has established its value at depth beyond doubt. Announced that the next output part y from the Diehl process, which is now running, will be 12,0000 z, and the public is assured the estimate of a consulting engineer will be realised. It is to the effect that the Diehl process will start with an output of 12,0000 z, which will be worked up to 18,000 oz, -and it is indicated that that will be the monthly return as time rolls on. On the other hand, writer has it on excellent and much less bliased authority that the tonnage of l£oz is under 70,000 tons with a very large amount of 10 and 15dwt stuff, if that is any good to fall back upon ; that the 500 ft level is practically a blank to the Perseverance boundary, and the lode at the 700 ft cut opposite the Main Shaft is worth only 7 dwts. (ft was always poor opposite the main shaft.) The lode seems to be in the Golden Link below the 600ft'for the whole length of the south lease.”