THE MONEY MARKET.

Kumara Times, Issue 771, 20 March 1879, Page 2

THE MONEY MARKET.

The following items are taken from the Home News of Januaiy 30 : The National Bank of New Z.-aland (Limited) will pay an interim dividend at the rate of 0 per cent, per annum for the six months ended Sept. 30 last. The General Meeting of the New Zealand Kapanga Gold Mining Company was held at the offices on Dec. 31.-^-Mr S-mh irate in the Chair. The chairman said that the last report from the mine was dated Nov. 11, and it was of a satisfactory character. It stated that the gold was continioua in the Coraldilla Mine, although in the Albion no gold had yet been found. The gold produced for the month of Sept. wasßsoz., for Oct. 850 z., for Nov. 780 z., and up to Dec. 8,85 oz Since the last meeting they had received new capital to the extent of £5156, of which £4500 had been remitted to the mines and £196 paid in the way of telegrams and bankers' commission, and after paying other indebtedness they had a small balance in hand. In driving they had met with a deposit of arsenic, and a sample had been submitted to Dr. Hector, the Government geologist of New Zealand, and it was expected that this discovery would add materially to tha prosperity of the mine. The report was adopted. The prospectus is issued of the New Zealand Agricultural Company (Limited), with a capital of £I,OOOOOO, in 20 shares. The formation of the company is attributed to the great demand for land in the colony since the opening of the Government railways and the large profits realised by owuers having capital at demand for improvement. The price agreed to be paid to the vendors is £1,070,000, of; which £350.000 is payable in fully paid-up shares, forming no part of the present issue, aud the balance in cash by instalments extending up to the end of 1883. The prospectus states that a dividend of 7 per cent, may be anticipated, independent of the the rising value of the property.

From the report of the directors of the New Zealard Loan and Mercantile Agency Company (Limited), which has just been issued prior to the fourteenth annual meeting, it appears that, inclusive of the balance brought forward and providing for all expenses and bad and doubtful debts, the net profits were .£.13,091. Of this, the payment of a dividend at the rate of 10 per cent, (in addition t" an interim dividend paid hurt July) will a'-sorb £22,873, and a proposed bonus of 5 per cent, will require £11.394, while £20,000 is to be • •re lifed to the leserve fund, and £3,824 will lm carried forward. The sum of £20,000 received as premium at 10s per share <>n an is-me of 40 000 shares of £25 each, in addition to the £20,000 referred tn above, is carried to the re-: serve, raising that fund to £160.000. A reference to the balance-sheet shows rhat debentures issued and guaranteed mortsfijjes figure for a total of £2,355,672, fixed deposits, bills received for collection, and current accounts amount to £493,393, and bills payable stand at £246,219. On the credit side of the account, loans on mortage show a total of £2,175,215, while bills receiveable amount to £232,404,and wool, and produce advancesan 1 current accounts to £554,944. A j etirion has been presented for winding up the Australian Land Investment Trust Company which was formed for the pu- chase of large estates in Australia. The Vice-Chancellor made the order for winding-up . compulsory, and continued Mr "Young as the liquidator.