FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5132, 17 September 1895, Page 2

FINANCE AND TRADE.

Sf tcially compiled for Ilia" Manpi Daily li mci. . WILD-CAT WARD. The Hon. J, Q Ward is earning a notoriety, in his capacity as Colonial Treasurer, as a breeder of wild-cats. Within the last few weeks we have seen no less than three tariffs, och one more perplexing and Be annoying than the other. What is Wild-cat Ward driving at P does he purpose twisting and turning the tariff in order that it may be unintelligible to the majority. Whatever the game may be Ministers are playing at, the country is suffering from the uncertainty, business is being hnng up and trade is stagnating. The wretched bungling of tho Colonial Treasurer, stamps him as a plunger, and tho Colony will long rue the fact that Mr Ward has been permitted to control the Treasury. He goes away from the seat of Government for a week and when he comes back he plumps down a ndfe tariff. Where did he get it ? Is it the result of the luvercargill banquet ? The Colonial Treasurer is a botch, and it would pay the country to allow him a pension equal to the salary he is now getting, and let him rusticate in Southland mid all tho pleasures of oats and binder twine,

COLONIAL CONSIGNMENT COMPANY, Writing of tho Colonial Conajfti,ment and Distributing Companj|pe Bialto says" Investors who have sunk their money in New Zealand securities, have, unfortunately, very little to be thankful for from that euterprisiug Colony, and we fear that tho latest Now Zealand scheme —tho Colonial Consignment and Distributing Company, Limited-is scarcely likely to be regarded favorably by investors, unless the vendors themsolves have sufficient influouco to securo tho £175,000 in Dobonturo and Preference Shares, now offered for subscription. We have carefully studied the scheme, and cannot understand why Nolson Bros,, Limited, should require the shuffling of the cards that seems to bo taking place in tho present conversion, To our minds there are much better Debenture and Preference, yielding the same interest, to bo picked up at par, frozen meat is, no doubt, an excellent business in good times, bit the competition in the trade grows keener and keener, and the issue under notice cannot possibly be regarded in the light of anyMng but a speculative investment." ▼

TIIE WOOL MARKET, Wool continues very firm. It is a cheering noto amid the din of the tinkering that is going on in the Colony, Our wool-growers must be greatly elated with tho prospects which are undoubtedly of tho brightost. Tho prices ruling last year for our staple product were on a very low level—a lovel which we hope will never again be seeu. Mr David Elder, tho General Manager in Victoria of tho Now Zealand Loan and Mercantile Agency Company, recently stated that Victorian wool realized last year an average of from £8 to £9 per bale, whilst tho average in 1889 was £lslos. Had the price of 1889 for wool been realised from 1890 to 1894, it would bavo made a difference of £23,375,000 to tho wool-growers. It is the knowledge of such figures that makes us appreciate any advanco in the price of wool. BANKING. A Tlio terms upon whioh the Colonial Bank is to be absorbed by tho Bank of New Zealand, will, it is expected, come before Parliament, when we shall probably be treated to another debato on Banking. The country is heartily sick of the subject and will be vory pleasod whon the matter disappears from tho public gaze. The English shareholders of the Bank of New Zealand, were to have met yesterday, tho Kith inst,, and what view they tako of tho position will be extremely interesting. They are not likely to acquicsco in the proposals of Parliament without wanting to" know you know." Tho Banking Commission of Victoria has reported in i'avoijr of & State Bank, together with tho Stats monopoly of tho noto issue. As tho membors of tho Commission aro not unanimous in the proposals, tho Victorian Government will probably bring down its own proposals, which may be good, bad or indilleront, according to tho amount of intelligence in the Cabinet, It must not be overlooked, in dealing with bilking affairs, that safety cannot maintained whoro money is takon on deposit at short dates and lent on the best intorest-bearing securities that could not be realised upon in times of panic, Banking is much more simplo in England, where the people are principally traders as compared with the Colonies, whero the people are chiofiy producers, MINING, Gold-mining is strongly in evidenoe, During the week, the Victor Goldmining Company was floated in London, with a capital of £IIO,OOO, and a sharo issue of £75,000. Next month wo shall liavo the ploasure of hearing that several of tho Thames and Coromandel properties have been floated in London. The developments in tho wonderful Waihi Mino will help the Company boomers, who should eiperionce no difficulty in working otE any likely, looking ventures, Never bofore, has gold-mining been so vigorously prosecuted as now. In South Africa, the monthly yields are gradually mounting up; the returns for the month of Jaly last oxceeded 200 M) ounces. West Australian being rapidly developed, while in all the other Australian Colonics, the yields are better than they have evor beeu. The annual output of gold for the world, is estimated at forty millions sterling, so that by the close of the century there will be added to the golden wealth. £200,000,000. What is to be done with this vast accumulation, when Bankers' yaulta are already chokedup with the yellow metal ? What effect will the increased production of gold have upon trade? It is a question that is troubling the mindi of experts, but tho general opinio* appears to be that prices of commodities will ascend. STOCKS. British 2f per cent. Consols h&ye advanced to 107 j. ■> Colonial Government stocks show the usual fluctuations. In tho I ' percents., New South Wales, Queataland and West Australians, advanced, and South Australia has receded by 255. The latest quotations compare with last week,'as follows: Sop. Sep, Movo6th, 12th, meat, Now Zealand 1929 ... 112 112 ' r H,S, Wales 1933 ... 111} 117 Riie SQi Victoria 1920 ... 1081 S. Australia. 193G ... 113 1115 Fall 26i Quoenslaiifl 1924 11H 112 Rise I|h W, Australia 1934 ... 120 121, l£e S?s In tho 3j per cents., the raore> < ments affoct four denominations, all

of which exhibit an advance, Tho tablo of comparison shows as follows : -

Sep. Sop. Movo5th. 12th. imiil. Now Zealmd 191(1 . lQGi 1064 — N.S. VTnlea 1924 . .. mo 106 — Viotoria 1!)23 . 1011 1021 Rise 20( 9. Australia VJ30 . .. 1054 19? | Ki«e 16s QaeonsWt 1924 . .. 104t lOoi Bi-6 l6i Tsimsniti 1940 . 105J 105? Rise 5» Pekcv Pexlyn.