Share and Financial Report.

Manawatu Standard, Volume XI, Issue 1628, 6 February 1886, Page 2

Share and Financial Report.

•-, Messrs Williamson and Co., Sharebrokers and Financial agents, Lambton , Quay, Wellington, .report, as follows m their share report: and investors' guide for 30th. January iH-The'fSrospects ot the colony may be -regarded with great requahimiijy. Its own .extraordinary resources, non -political situation, and incomparable climatic conditions render.it. secure "In pefte^ or "war. from any, overwhelming catastrophe. Nor is^iji possible' evjsn>H«JciouslyJ to "contemplate retrogression. -* bin* determin.eu' 1 ' efforts to establish m m v fact v res an.d self-reliant relations, necessarily experimental m a igreat measure, must at least command admiration. We { may. appreciate :• the continued and preference' of English in vestprs i for Australasian securi- . 'ties, I but it is easily' understood— their money is well spent. * It may, we' think, be assumed, that the ensuing New Zealand; Parliament- will ? grant to Government borrowing powers to the extent of : eight oi' tea millions sterling, no doubt, i exclusively for development . purposes, Contingent . on. increased immigration,' the country is convinced of Us capacity to pay' interest on any amount; A strong [ propulsion -of colhinerce' in 'eveiy 'depart-; . mentmay be reasonably. anticipated. The public continue; to watch' with the greatest, interest,. and some anxiety,, the , progress, of thejfrozen meat trade,. and the. .direct steam. services.. A large, amount of New Zealand 'capital is embarked m these exand problems of momentous consequence to the colony are involved J m their success. Cheaper English i and Australasian commercial- cablegrams are of. j exigent atidt -paramount importance., the present rates being almost prohibitory;. We would] agairp urge an thqse most interested, the immediate need 'for combined and energetics action ; nothing willjbe obtained m this direction without strenuous effort. The Share Market has for some monthsjpast been unsettled and I dulli It has recently received some serious j blows from; several iristitutijons, through poa-paynient or. reduction oorf r usual dividends: TrivesteW 'generally continue- to • manifest a preference for local Loan and Mortgage Companies, but although still higher, premiums are offered, holders are loath to part. Gas stocks all over the colony have been m , "great demand, much business resulting at high figures. Banks at present mar~ket, price return the buyer little over 6 per cent, nevertheless, we have to record some heavy operations, both m local and stocks. Shipping and- irisurfantee stocks are especially shunned; buyers will be tempted to operate only m small lines at heavy discount. Industrial .Companies have been m fair request ; some large transactions m Woollen Company shares have lately been done at 20 per cent, premium. ' Banks. - Colonials have been largely bought, and close firm., New Zealand's are wea,ker and somewhat pressed. Nationafs [scarcely move. Union Bank of Bank of New South Wales,, auw Bank of Australasia have been locally purchased m large parcels. Insurance. — New Zealand and Union stocks only keep the field. • SoutH British'are for tbk first tim&iti our columns quoted at a 'discount. -'-National prices are;a publio surprise. New. Zealand 1 Accident und Accident Association stocks, consequent on near-, expected dividend.,; areiin some demand. ShipDing.^UniohS.S. Company shares are. . seldom dealt with m Wellington ; our figures are procured froni outside sources. ,, N.Z. Shipy .ping Co. Limited shares are held here "very extensively. Some three Years ago , they were preferred to any, other m the; market. , .T^e company was econimically managed , ; paid easily 10 per cent dividends, and shewed a reserve nearly equal 'to paid-up qapital. Five pounds per, 'shajre 'y/ere called, and holders could easily obtain a premium of from fifteen to tlwenty shillings. O.ur present quota tioris show a wpfully.different tale. Six pounds.; are now paid up, and the stock is offered to-day at a discount of four pounds per' share. i: ;ijniess some different system of management is inaugurated, and that , spebdUy— mi;clx abolished,- much re;trenc|ied,•. •abdV much initiated— share- ' holders will not : expeot much improvement m their, position. Financial. — N.Z. Loan and i^tercantiles are treely offered/ at [considerable reduction. N.Z. Land Mortgage, also, National Mortgage and Agency are easily obtainable at under preyidus prices. Wellington Trust Loan and Investment ; Equitable Building and Investment Cp.'s shares continue extremely scarce. These well-managed local institutions are ' favorite channels foriinvesiiing the surplus capital of societies, as 'well .as of Gold Mihes.-^Numerous.tmqsactiohsthrough-out the country." Camb'rias mostly monopolising attention. The" West Coast, Welcome, |Ce,ep itj)ark, and Alpiheg "in strong -, favor ajad higher price. The Tera whiti district is reported to have eot the first solid stone and 'rich. Details of Money Market.— At no former period lias money been so ah^ndant 0r, ., 50 cheap. The vast sums acouriiulating m the hands pf various iQstittitidtis ' m the oolony and a.t their disposal, altogether from the cdn.tfou.al' stream of remittances received hy private firmis for investment, f]nd great difficulty m obtaining anything like -former rates* Small borrowers find negotiations easy at 7 per cent, with mpderate marginal security, Puhlia Companies and Oorporatiohs Appear to obtain the best ter'm.s, ranging ! fr6m 5J to (\% per ooh^ City pwner-Hes are pre-ferred-by leaders at ; the ' present ! time*. : Broad acres do not now possess the haundlesa Confidence of capitalists which only vefy recently obtained. > ■' ■•'■■) n