MONEY AND SHARE MARKETS.

Tuapeka Times, Volume VII, Issue 393, 23 September 1874, Page 2

MONEY AND SHARE MARKETS.

Mr. J. Reid MacKenzie reports' fcr the week ending 19th inst. as follows :—: —

During the week there has not been much business clone. September being usually a dull month, as the season advances a little more life and activity may not unreasonably be looked for, always supposing money matters get no worse than they are. This, however, is not very likely to happen in view of the cheering telegrams from London regarding our chief staple, wool, the rise in which invariably puts more money into circulation, our pastoral friends being .as a rule no niggers with their cash when this important interest is in a flourishing condition, in which all engaged in business participate, The mining interest, too, upon which, bo much, of our prosperity hinges, will Boon after the severe winter be in full swing again, which will also produce another favourable effect. These causes, with the opening of the new bank on the first of next month, and cash to be received ere long by the Water Company's shareholders, will contribute to ease the money market. More animation may therefore be looked for during the summer months than has been the case for some time past. Prices have been well maintained, except in two instances, which will be noticed under their respective beads. Insurance, — South British have suffered a

decline of 2s 6d per share, the reason whereof it is impossible to define. A very favourable balance-sheet and report may be expected at the forthcoming hair-yearly meeting, and a reaction, by which lost ground may be recovered, will' perhaps follow. Nationals remain at last weeks quotation ; a rise may, however, be anticipated when the result of the half-year's operations is made known in a fortnight. It is reported that the returns from the London agency are of a rery satisfactory character. Standards are better, and much more inquired for. There are no sellers under lls 3d and lls 6d., showing a recovery of Is per share during the week. Banks. — Colonials are not so Btrong, business to only a limited extent being done at 2s to 2s Gd discount. When the result of the manager's arrangements in Victoria is known, a reaction may result ; meanwhile, the prospect of calls being made compels some holders to realise — hence the fall. No business in National Bank o£ UTetr Zealand or Fiji to record. Mining. — A considerable number of paidup ShotOTcrs have changed hands at an advance of 2s to 3s. This is in consequence of the improving prospects, which are said to be very vich. It is much to be desired that this once rich mine may yet realise the great expectations which were formed of it when the company was projected ; and it would not be in the least surprising, considering the vicissitudes and varying fortunes of many mining enterprises, if the Shotover yet,turned out as rich as its most sanguine believers expected. Miscellaneous. — A small parcel of Mosgiel has been done at par, but there are few or no buyers at that figure : at a discount of 2s 6d some could be placed. In " Times," " Guardian," Forbury, Otago and Southland Investment Company, and Shipping Company, no business done.

Sales. — National Insurance, £1 lls and £1 10s Gd ; South British, £2 12s ; Standards, lls 3d ; Colonial Bank, 12s 6d and 13s ; Shotovers, 4s 6d to 6s 6d.

Sellers. — National Insurance, £1 lls ; South British, £2 lls ; Standard, lls Gd ; Mcsgiel, J3l lOs ; Color.ia.l Bank, 13a 6A ; STaliona.l Ennk, £3 10s ; " Times" £30 ; Forbuvy.£4o; Arrow, 8s ; Shotover 7s 6d ; Star of the Ea^t, £9 10s ; Parapara. 16s ; Greymouth Coal 'Company, 5s ; Walton Park, 6s ; Luckuow, £2, 10s ; Elizabeth, £2.

Buyers. — National Insurance, £1 10s ; South British, £2 9s; Standard, 11s; Colonial Bank, 13s ; National. Bank, £3 8s ; Mosgiel, £1 7s 6d 3 Shotover 6s ; Forbury, £30.