COLONIAL GOVERNMENT SECURITIES.

Globe, Volume IX, Issue 1232, 14 February 1878, Page 2

COLONIAL GOVERNMENT SECURITIES.

In his circular of December 21st, Mr Vv*. Westgarth reports:— Tho prices of the Colonial Government securities have been rather strong and upward since the favorable turn in the money market, indicated by the reduction of the Hank rate from 5 to 4 per cent, on the 29th ult. Considerable business has been done in the Victorian and Queensland, and more especially in the New Zealand wtocks, all of tho ilntter standing firm, and in some iustancos recover ng as much as 1 to 'i per cent. Theso securities have not however eutiryly scaped, the geueral de.

prossion that overspread the entire Stock Exchange markets a few days ago in consequence of the growing complexity of Eastern affairs, and the unusually early summoning of Parliament. The average advance in prices had amounted at the beginning of this week to fully 1 por cent., and this has been followed by a re-action of about one-half of this advance. There has been a considerable falling off in the amonnt of business usual at this time in these securities. New Zealand.—The market is still steadily and slowly improving. The 1914 five per cents, are 3 higher, the consolidated and five thirty-fiveß are 1 higher, and the four and a-half per cent, i higher. Municipal and Miscellaneous.—The transactions have been small, bnt quotations are well maintained, City of Auckland sixes being quoted 1 per cent, higher, Otago Harbor sixes 1 per cent, higher. The Colonial Bank of New Zealand, agents in London for the Otago Harbor Board, offered for publio tender, on the 11th inst., the balance of the authorised total of £250,000, amounting to £120,600. There were in all eighty-one tenders for a total of £245,100. At £lO2 ss, the allotment was a little over one-fourth; that above that price of course in full. The price of the new stock is about 103 ex Ist January coupon. The following were the quotations for' New Zealand Government stocks on December 20th:—

Authorised e IbBUO. J c P- > Name. 4 Quotation, £93,100 6 ! New Zealand, 1891 - - 488,000 5 j „ .... 7,153,100 5 | „ Consolidated - 201,500 6 „ 1891 329,906 6 „ 1891 6,000,000 4J|N. Zealand 5-30,1879-1904 1,250,000 5 Do, do. 1881-1906 115 —117 107 —109 106J —107$ 114 —117 113 —115 98 — 99 104*—1051