COMMERCIAL.

Wairarapa Daily Times, Volume VII, Issue 2094, 14 September 1885, Page 2

COMMERCIAL.

SHARE REPORTS. Messrs Arthur Warburton and Co, report for the weekSales—Bank of N.Z., £2l 10s; Colonial; Gs 6d; National, 20s. Quotations : Banks—N.Z., £2lloa to £21125. 6d; Colonial, 435. Insurance —N.Z., 765; South .British, 50s; Union, 24b 6d; National, 20s to 20s 6d; Standard, 13s; Colonial, 6s 6d; Equitable, Is 4d, Miscellaneous—Loan and Mercantile, £o; Land Mortgage, 2os to 25s 9d; National Mortgage, 245. N.Z. Shipping, 555; Union Stoam, £l2; Mosgiol 'Woollen, 80b to 85s; Kaiapoi, £26; N.Z, Drug, 18s; Wanganui Gas, buyers Ll2, sellers L1210a; Napier Gas, Ll2; Westport Coal, 10s 6tl; Wellington Trust and Loan, LG 2s; Equitable Building, LG 3s; Wellington Gas, buyers Ll7; Manawatu Railway, 16s; Gear Meat, 80s,

Messrs Charles Pownall and Co,, mortgage agents, Wellington, report that during the last month the value of money for mortgage investment has remained dormant, quotations ruling from 6| to 7per cent for issues in excess of £IOOO, Demand and supply have both been limited to contracted operations, the serious depression in tho price of wool, and the increase of property tax, militating against heavy advances on station properties. Money on mortgage in the English market is now quoted as low as 2| per cent., tho mercantile rate being 1|; and welittledoubt, therefore, that large applications, guaranteeing 5 per cent, net there, which have been sent forward for some of our leading station-holders, will command tho attention they deserve, as tho best securities for investment offering, The Government Debenture Bill is not likely to pass this session, Tho Bill apparently holds out very favorable terms for small settlers, offering them advances on debentures at 4$ per cent, This advance is to bo limited to one-half of the property tax valuation, and would tboiefore be reduced to about onethird of the upsotvaluo of theproperty, Further, if these mortgage debentures are to be.employod as a marketable commodity in this country, they could only be negotiated at the current rate of interest ruling, and consequentry might havo to be disposed of at a heavy discount.