FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5073, 10 July 1895, Page 2

FINANCE AND TRADE.

(Specially compiled for the' Walrarapa Dally limes). NATIONAL BANK, This institution has apparently had a very profitable year, which closed on tbe 31st March, profit of £60,000 is somethiriJPo be proud of in these days,when bankers are vainly casting about for safe outlets foridlemoney. Thatthe National Bank would show a good balance sheet was known to tho market, and theshares bavebeeninsteadydemand for several months past. Recent transactions are reported at 22s 6d ,f cum dividend. The expectation was that an increased dividend would have been paid, but the authorities show their wisdom, iu maintaining tho old dividend of 5 per cent, per • annum, and strengthening tho reserve fund. the excellent roturns the shares are very low, although comparatively they stand better than the stocks of other banks dohie; business in this Colony.

THE LOTTERY BILL. This measure stands in imminent ,

danger of destruction, and it is impossible to regret its collapse. The Private Bills Committee report that the Standing Orders have not been complied with, and tho Bill has been referred by direction of tho Sjfckor to the Standing Orders ConJßfjee. Ever since the Gazette llotice appeared respecting this Bill, there has been growing up a strong opposition to it,and although the Government has not given ifcdirect support, they are morally responsible for it; and it has been introduced to thy House by tho Government Whip, The Liberal members are by no means in favour of it, while outside the House every right-thinking individual must abhor the gambling element which it seeks to encourage. The measure stands in jeopardy,and the chances of its passing into law are very shadowy. Mr Scddon will see that it is dropped like a " hot potato." A.M.I'. SOCIETY, J Policy-holders in this great Life Olhce will, in tho course of a few days, receive those well-known square envelopes, to remind them of the good round sums they are providing for kith and kin, when the time arrives for " passing iu checks." The bonus certificates for the your 1894, for the members of tlilMtiefcy in New Zealand, arrived laW last week, and are being distributed from the Head Office, as quickly as possible. The profits available for distribution, amount to £428,020 cash, and the certificates now being issued by the Society, represent reversionary additions of about £850,000. Nothing succeeds like success, and the success of the A.M.P. Society is most marked, each year showing greater results than its predecessor.

TARAHAKIIRONSTAND. The offer made by Messrs the well-known electrical engineers and ironfoundovs, is a remarkably good one, although it is made subject to tho payment of a bonus of £1 por ton. Messrs Siemens are willing to sink £200,000 to establish works in this Colony for tho treatment of ironsand, provided the Government will grant them the nse of some foreshore where it abounds, .and pay the bonus of £1 perfem, up to 20,000 tons of iron pißucc(J, Tho proposers do not intend hcCepting the bonus, until 2000 tons of iron have boon produced, and they have proved tho stability and profitableness of the industry. For many years past, there have been soveral attempts made to treat the ironsand, moro particularly inTaranaki, but the industry has nover been established. There seems never to have been sufficient, monqy to mako the teste suOiciontfy' exhaustive, so that the proposals of experts like Messrs Siemens, with the largo capital they propose to employ, opens up bright® prospects for the Colony. Thore can bo no question as to the existence of tho ore, Mr E. M. Smith has proved this beyond a shadow of doubt, with his annual exhibition at the Parliamentary Buildings. One can only hope that Messrs Siemens will havo overy facility afforded tliem for undeijtaking the venture.

THB COMMAI TREASURER. To-morrow tho Hon J, G. Ward will arrive in Wellington, rfji be received by his party, who ljlfor the occasion arrogated to theiMves tho dignified titlo of tho National Party, Those who are on the same side in politics as tho honorablegentlenien, havo a perfect right to " enthuso" and make as much capital as possible out of the doings in England of the Colonial Treasurer. Tho party which sits opposite to tho Governmcnt in the House also intond receiving. Mr Ward, but the mom. bers composing that section will havo occasion to bring a little sulphur into the business. Financial matters are likely to engage .the 6orieus attention of the House for several weeks to come, and we shall certainly hear a good deal about th& alleged securities sent from thj) Colony to the Bank of England to be available in case of a crisis. The Treasurer s addross to tho London Chamber of Commorce will be mercilessly criticised, fortbere is no doubt, that speech had not a little to do with the floating of the 3 per cent, loan, On this point the Mialto says: " Possibly the lectnro !" delivered tho other day bv the " Colonial Treasurer of Now And "before the London ChamP? of "Commerce, helped the subscrip-l tion for the new loan, but there "is reason to suppose that it would "have gone off well in any case, "since there is a well-grounded 1 belief that the finances of the colony "are improving,

The goldmin^ a tt i j 0 returns aspect. in that obtained, mines are ihhtoJMpoffer,'forflotation in London, ana on this prospect the scrip becomes 6f considerable i value. Tlie danger of" wild-cats" ' is troubling not a few speculators, but theso animals are inseparable in... a mining centre.. The Mflfaraion' created by mining venturej don so far has been very good, and if the Coolgardie example is avoided there need be no lack of English capital to develop our mines, wool. The rise expected in the price of .wool Las been realised, and the fadt will put fresh heart into ; our woolgrowers, The sales opened. with » catalogue of 14J569 bales ; the attendance was unusually large, but the competition .. was; confined to English and American'buyers, the v

totting off. Medium and good Merinos opened at 10 per cent and faulty sorts at 5 per cent above tlie closing rates of tho May sales. A line of N.Z, grown wool, branded " Bayswater," sold as high as 9§d per lb, a remarkably good price, Americans are operating very freely, and 14,000,0001bs of wool have changed hands at tho New York Wool Exchange last week. Tho admission of wool duty free into the. United States is only now beginning to have its effect, for the Yankees are now operating with a free hand. The woollen industry must be in a healthy condition in America, and tho revival of trade in that country will spread its beneficial offccts all over tho world, STOCKS, . British 2| per cent Consols (Goschen's) show no alteration at 107}, Colonial Government 4 per cent stooks have experienced an upward movement, and all now occupy very strong positions, The weekly comparison is as follows : June July Move--27 4 went. New Zealand 1929 112} 113 Eise 13s N.S. Wales 1933 117 117 Victoria 1920 109 109} liiscos S. Australia 193G 111 112 Eise 20s Queensland 192-1 111] 112! Jiiselas W. Australia 1931 119 119 In the per cents tho quotation for New South Wales stock shows a drop' of a quarter, all the others have advanced, except Victoria, as shown below:— June July Move--27 -t mcnt. New Zealaud 1910 105 103! Eise Ills N.S.Wales 1921 10SJ 108| Fall as Victoria J 923 102 102 - S.Australia 1930 10-t? 105 1 } ]{isc2os Queensland 1921 103f 10-lf Ui.se 20s Tasmania 1910 101} 105 Eise 5s Percy Pkm.yx.