FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5091, 31 July 1895, Page 3

FINANCE AND TRADE.

(Specially compiled for the' Wairarapa Daily Times') CiOVKItSMEXT I.lt'K INSL'KANCE. Of what excellent benefit this department of the State lias been to tho people, is evidenced by the annual report just submitted to Parliament. In the limited space at my disposal, it is impossible to give more 'than tho leading figures, but these aro sufficiently convincing. During the year, 3983 proposals were acceptod, and the new piemiunis received amounted to £23,117, slightly in eicess of the previous w year. Taking cognisance of the commercial depression, the difficulty of obtaining employment', and the general stagnation, it speaks volumes for the department that its new business has exceeded the previous year's record. The total revenue from nil sources amounted to £309,478, being £7,794 more than was received last year, Claims on totaint of death and matured enaowmcnt assurances, and children's endownnients aggregated v £113,968.

The Government Life Insuranco Department has been in existence 25 years, and during that period received £ In premiums 3,'167,421 For annuities 113,203 For interest 1,05!,558 For fees, etc,, Cl 3 £1,11112,795 and paid away £ Claims at death an! maturity ... 1,130,061) In surrenders 325,810 In surrender of bonuses !)2,456 In annuities 71,436 In commission 184,801 In expenses ot management ... 492,ti79 In taxes 52,631 Investment of reserves -i3,G00 Losies on property foreclosed ... 1,711 £2,398,526 This is a record that any institution might well be proud of, and policy holders in the Government Life Insurance are to be congratu- ];&}! on the soundness of their investment. WOOL SAI.KS. The fourth of the series ofLondou ■wool sales close to-day, and no fault can be found with the tone of the market, which lias been buoyant all through. Last week the selections offered were more or less inferior, butthe prices were maintained. The American buyers stimulated the market from the jump and have been heavy purchasers all through the sales; the climax appears to have been reached 011 the 26th instant, when a good selection of New Zealand wool saw the highest prices during the series. The turn in the tide of wool prices is extremely welcome, and there is every prospect of its continuing ; the political changes in America with a possible reversion to protection may cause prices to recede, but the general outlook is decidedly good. Had the first and second series of sales shown the same vitality as has been apparent in the third and fourth, the wool growers of the Colony fid have had no room for comnt, and work this winter for the labouring classes might have been more plentiful. The next two sales which open 011 the 2-lth September and 26th November, will have no groat interest for us, except in a general way, as very little NewZealand wool will he offered at them. A l.irUK IUTMAIi. The deal in Now Zealand consols made by the Bank of New Zealand is, to say the least of it, a little peculiar, As everyone knows, under the Guarantee Act of last year, the Bank obtained two millions at -1 per cent, for a period of ten years, and a portion of this, £150,000, lias been invested in consols at 3; per cent., a clear loss of £750 per annum, and as the Bank is obliged to refund the State Guarantee Loan in 1901, this little transaction represents a loss to the institution of £6750 during the nine'years. It would be intensely stupid to assume thai the Directors of the Bank of New Zealand have ucquiesed in such ft transaction. They liaye been compiled |o make the deal, and the ■Sfeon for it is not disclosed. The *150,000 received fiom the Bank of New Zealand was lodged with the London ollice of the Colonial Bank pi' New Zealand, at 1 per cent for a term of years, and why this has been (lone js not stated. This is a matter that requires explanation, for as it stands it looks ugly, and liable to the worst construction, at any rate, it is not calculated to inspire confidence. FOKKIIiX CAl'll'Ali. ' A goodly portion of the idle English money is finding its way out to the Colonies. Mining ventures have been forced to the front by the discoveries in Coolgurdie, but Westralia lias outrun the constable by seeking to impose upon the public. A good few wild-cat .schemes are now associated with Coolgardie, and the attention of tlio English investor is turned in another direction. New Zealand is now the happy hunting find, and the Auckland district principal spot. A ne\y era lias 11 for our mining industry, and as jn days past gqid-mining has lifted us put of the mire of depression, and Bp in the immediate futpe will we be Indebted to the gold-seekers. But the industry ivijl be on a new bjisls altogether and its deyolppeinent will be due to tho advent of English capita). During tho past week, the Norfolk Goldmining Company and three smaller vontuien have byen handed over to foreign capital, on advantages terms to the fenders.

Tlio result must bo beneficial to tlio Colony as n whole, for tho reason tlmt tho mine will bo thoroughly developed and worked to yield a profit to tho investors, whoreas had this property depended upon New Zealand money for working, I am inclined to think vory little work would be done. Tliero nro quite a number of mining properties that will pass into the hands of English capitalists and so long as the ventures arc legitimate we have everything to gain. The share market for mining scrip is extremely active and shrewd buyers aie certainly doing well.