FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5049, 12 June 1895, Page 3

FINANCE AND TRADE.

(Specially compiled lor Iho' Wairarapa Dally Times; MINING. '''-\J» "goldfovor" is slowly bu claiming fresh victim -nily. The disease first set in witl « the Coolgnrdio romances spreai through Australia, and lias conn across the water to New Zealand, li the northern portion of oho Colony at Coromandel and the Uppei Thames, the fover is raging fiercely and speculation is furious. Tin Waihi and the Hauraki, tho Goldei Cross, Golden Hill, Talisman ant Welcome Find, nro some of tin names of the mines up north, and ii '. thorn is focusscd a vast amount o. •'•'"Rambling, Speculating in go !c shares is a fair thing, but speculator! cannot conline themselves to the j legitimate gamo, but must import knavery and thievery to aid thorn in their mad rush to get rich quickly, Mining shares are selling like hoi and new ventures are being "fiken upon the flimsiest chances el success. Any rat-hole, with a stont PHing out of it, can be turned over j by the syndicates and company boomers into a gold mine, as long as • tho claim is somewhere within a radius of fifty miles of a mine of repute. PAD BUSINESS. The main purpose of tho syndicates and company promoters is to follow the examples set by their ' prototypes of Coolgardie. Scvcntyfivo mining ventures from Western Australia were floated in London in fourteen months, and the principal . feature of the Westralian promotions was the large cash payments demanded by the boomers.' The same game is evidently in contemplation by those who intend foisting the dummy mines of New Zealand on the London markcj,. The Colony will, of course, suffer by Iho work of thnfc rascals, for really sound ventuw will not stand any chance of success, The magnificent returns from the Waihi and Hauraki mines ' are rather a misfortune than otherwise from one point of view, for they supply the ground work for fairy tales respecting other ventures, It is to the interest of everyone to prevent, if possible, other than likely ventures being floated at Homo. «UOD HUSIXESS. There aresomereal plums amongst the group of northern mines, and the Waihi alone, with its enormous monthly output, has converted its shareholders into comparatively rich men. Not many years ago Waihi shares could have been bought at a , ponnd apiece, now they soar between £6 and £7, and hard to secure. The new processes of saving the fine gold, have completely revolutionised the mining industry, and mines that underthe old systems were regarded as duffers, are now dividend payers of gosd repute. The cyanide pro- ' cess has done a great deal for goldmiifcg, and if the rights of royalty no™claimed for this process were abolished, many more of the silent mines would show to advantage. At the moment the Auckland mines offer a fair field for speculation, and with care in selecting ventures them , is no reason why an intelligent speculator should not make money. To those who find recreation in a mild form of gambling.miuing stocks offer better sport than poker or nap. My advice to speculators in mining shares is to be sure that any information obtained, comes from a reliable source before dealing, and avoid buying or selling on telegraphic offers on a Saturday. RECEXT LOAN'S. The Bank of New Zealand Estates Company has successfully issued £750,000 of debentures at 4 per 'cent,, to replace a similar amount at 5| per cent. The information announcing the success of the venture is v» bald, but we are assured that the sum required was over-sub-scribed. This may or may not mean success, for if £IOO moie than the sum required was tendered, then it can be truthfully said that the loan was over-subscribed, but such tendering could not be termed a success. The cable does not tell us the price at which the money was obtained,or any. other of those details which are invariably transmitted to the Colony with all speed, to make an impression. Tho baldness of the message, therefore implies that the venture was barely carried through. Howevor, if the Bank of New Zealand, which really takes the responsibility of these debentures, has managed to get a reduction in the rate of interest, we must all be thankful, as it is - another step towards strengthening that institution. t South Australian local loan I*ooo at 31- per cent., was tedly a success, and the amount tendered, £719,000, shows the amount of money that is seeking investment in the Colonies, idle money is causing grave anxiety to our bankers, and large institutions . with surplus funds to invest, are' literally competing for business. In these stirring times, a would-be mortgagor is a person of great importance, STOCKS. British 2j per cent, consols (Goschen's) at 10b'},. show no alteration in price, as compared with last week. In the 1 per cent, Colonial stocks, Victorians have advanced ss. New Sonth Wales and Queenslandsappeat to have dropped, but the quotations - are ex interest. Allowing for the interest, tho present prico of New South Wales 4's, is equal to an advance of 10s. Tho table of comparisons is as follows : May Juno Move--30 0 meut. Nc%caland 1929 111 111 - •' N.SJWalcs 1933 116 Ml*Fall3os Victoria 1920 106J-106J Eisc 5s S. Australia 1936 109 109 - Queensland 1921 111 109* Falll)s W.Australia 1931 118* 118 - *Ex interest. In the 3i,per cents,. New South Wales, Victorians, and South Aus- ,, tralians have advanced, New Zealands and Queenslands are quoted ex interest, and allowing for the amount, the New Zealand quotation ' is equal to an advance of 10s. The detailed figures are given below : * May June Moyet 30 6 ment, "i New Zealand 1910 101} 103* Fall 25s N.S Walt 3 1921 105} 105'- Eisc 6s Victoria M) M\ M\ ltise 15s S. Australia 1930 101 101'HiselOs Queensland 192-1 102} 10H*FaJl 23s Tasmania • 19W 10-15 1011 *Ex interest. DIVIDENDS. , An interim dividend at the rate of 10 per cent, per annum, for the half year ending 31st May, has just been declared by the Gear Aleat Company, anWsharcholdeis can obtain their diviend warrants immediately. The Gear Company is unquestionably ''- one of the most successful of Joint '. '• Stock Companies in tho Colonv, and to pay tho regular dividend, in tho present depressed state of the frozen

meat markofc, is an indication o prudent and careful management, ', The Now Zealand and River Plati Land Mortgage Company is onci j. again among tlio dividend payers j and the 5 per cent, "div" jus declared, will bo welcomed by tin i patient and, loner-suffering shaveholders. This Company has passec L through troublous times, and "reconstructed " under new managemeu! [ quite recently. If the presold dividend is paid on a "squaro' ! balance sheet, then wo may assume that the Company is well round the corner, and on a fair way to pros- ; polity. I'liOmiCE. 1 ■ Tlio riso iii wheat seems to have led tlio way for an advance in other lines of produce. The Sydney market, which is infinitely more advantageous to New Zealand than the Adelaide market, is reported to be active, most lines showing a strong upward ' tendency. This is most cheering information, and it may now be fairly said that the depression is lifting. " One swallow does not make summer," but we have had quite a number of swallows to herald the new season. Pkrcy Pejcj.yx,