NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY.

Hawke's Bay Times, Volume 5, Issue 271, 29 May 1865, Page 3

NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY.

(From Correspondent of Wellington Advertiser.) I understand that a new company, entitled the “ New Zealand Loan and Mercantile Agency Company, limited ” with a capital of one million in 40,000 shares ef £25 each, is about to be introduced to the notice of the London monied public. This company in its prospectus, propose to caU up only £200,000 of its capital, raising the balance of £BOO,OOO by means of debentures, paying 6 per cent, interest. The business proposed to be undertaken by the company is to make advances by mortgage on freeholds, bonds and debentures of public companies, on the stations and stock of squatters, and lastly, to advance on wool in the Colony, and ship the same for sale by the company’s agents here. The board of directors named are D. L. Murdoek, managing director; Thomas Russell, James Williamson, Thomas Henderson, W. T. Buckland, and Robert Waterston, all of Auckland; J. Cracroft Wilson for Canterbury. From the above it wiU be seen the proposed company intend to combine the business of money lender and commision agents. The Bank of New Zealand closely identifies itself by agreeing to take on its own account 5750 shares in the concern, and to guarantee that 4250 more will be taken in the colony. I think there cannot be two opinions as to the good which will result to New Zealand, by a steady influx of new capital by means of this kind.