FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5156, 15 October 1895, Page 2

FINANCE AND TRADE.

♦ Specially compiled tor Iho' Walmrapi Djllj- Times.' ANSWERS TO CORRESPONDENTS. C.H.-Tou say you hold A. and B debenture stock of the New Zealand Loan and Mercantile Agency Company, and my advice to you is to put them under your pillow and sleop upon them. Tour debentures rank next in order to the "prior lien" debonture stock, and with the excellent prospects now before the Company, these debentures will soon see their par value. Unless you are pressed, it is not worth while selling out just now. The Company is regaining the confidence of its clients who reliase that they are absolutely protected by the special clause in the articles of association, whoreby tho moneys of clients are trust funds. Lust wool season, notwithstanding that it had just emerged as " recunstructed," the Company handled over 183,000 bales of wool, and stood second on the list of largo woolbrokers.

Spec—National Bank shares are well worth buying at present prices, MIIKMAN.—I have not seen the prospectus of the proposed company to work the Ballance Dairy Factory, but from the limited information at my disposal I should say there were rooks ahead for the company, and unless you are obliged to chip in with the rest, it. would be better to standoff. Tho butter business is very risky, and last season tho best commercial talent in the country seemed unable to steer clear of loss. The Loan and Mercantile Co. in leasing the factory to a legally constituted company, at £3OO per annumstund on velvet, and the milksuppliers will discover this later On. Anxious.—You need to be anxious, but wait for tho annual report aud balance-sheet before deciding upon taking action. The Wellington Woollen Company has decided upon venturing into the" slop" trade, and therein lies the causo for anxioty. There is room in New Zealand for, say, two of such slop-manufacturing companies, but in tho hot-houso of a protective tariff, a forced growth of woollen companies and slop-manu-facturers Ims been encouraged. The field is limited, and the competition will always bo keen, and losses will be inevitable. I think that in the' long run you will find it best to quit' your Wellington Woollou shares, which, happily for you, just now exhibit an aspiring'toudoncy due, no doubt, to the probability of a dividend being declared at the annual mooting to be held at tho end of this month.

_ Z.-Ycs. The shares in the Collior Two-speed Cycle Company are worth taking up. Look up my references to this venture in tho Dai r.r Times of tho Ist and Bth insts. ACKNOWLEDGEMENT. I have received tho prospectus of the Mataura River Seam Gold Dredging Compauy, also a circular issued by Mr P. Buxton, C.E., inviting subscribers for a Pounders' Syndicate. The Syndicate is required to find £550 to send Mr Buxton to England to float a Company with a capital of balf-a-milliou sterling, for the establishment of a Porge and Iron Works at Parapara, Goldon Bay, Nelson, N.Z. Mr Buxton is not likely to tronblo tho Wairarapa District in hissearch for " Pomulors," so that nothing further need bo said by mo, respecting the venture. TUE COLONIAL DISTRIBUTION' COMI'ANV. Tho New Zealand Times fires off three shots ovor thodovoted head of tho Hon. John McKeiuio, The offorfc is very suggestive of a military funeral. The shots aro: Ist. That Mr McKenzio hold many important directorships beforo he was a Minister at all, some of which he holds yet. 2nd. He is not a Diieotor of the Colonial Distributing Company, 3rd. Ho does not get £SOO a year. There is nothing in all this, but an effort on the part of the 2'i'imm writer, to split ham. Mr McKenzie does not (iguro on the directory of any important Company; he may have a berth on some parish concern in the wilds of Waihemo, but an important Company, would nevor have found it profitable to foe him in his pre-Ministerial days. He would be of no valuo now to any Joint-Stock Company, except for bis title of Minister of Lands and Agriculture. Tho public is always "fetched" with a titlo.

Then the Times tells us that Mr McKenzio is not a Direotor of the Colonial Distribution Company, bat does not attempt to deny that the Miuister is on the Advisory Board of the Company, a position to all intents and purposes that of a director. If Mr McKonzie was not Minister of Agriculture, what would be his chance of gotting a seat on this Advisory Board P Mr M'Kenzie does not get £SOO a year for his connection with the Colonial Distribution Company, but the New Zealmul Times cannot' deny that he gets a fee which runs into three figures. I never yet knew of a Scotchman working for nothing, and tho Hon. John M'Kenzie is no exception. SEW SOUTH WALES LOAN, The success of the Mother Colony's four million loan at 3 per cent, takei the gilt off' the New Zealand loan of £1,500,000, floated by Colonial Treasurer Ward in May last. Taking into consideration the collapse of the mining market, the dispositiou for money to harden, the success [of tho New South Wales loan must regarded as brilliant. The loan averaged £96 8s 3d, which is nearly two points better than the Now Zealand loan at the samo rate, which averaged £94105.

The average price and details of soino of the previous issues of New South Wales' are as under :

, . „ Average Amount, p.c, Date. Minimum. Prico, pet cent, percent. £3,600,000 Si April 1888 102 £10312s 2J £3,600,000 3J July 1889 102 £lO2 8s 0d £4,500,000 3{ Sept. 1891 95 £95 OsDJd 1 MIXING KEMPSE. During the past two years John Bull has been invited to subscribe largely for raining ventures in all parts of the world more particularly in South Africa and' West Australia. J. Bull has readily found the money, but there seemed uq end to the wining ventures!' while' the' swindling has been of a bare-faced character. The. loading financial papers in London months, ago a mining collapse, and gavo a warning note to investors. The Bialto of 17th August referringtolbemattersaid: "Knowing something of what is going on iu the inner ring, we foel convinced that a large number of these companies which are now being so rashly formed, will come to hopeless grief, and that the money invested in tEonvwill' be a' total ' Mrßull is now being invited to taste of the New Zealand miriingdjsh, and it remaius to be seen how he will take to the perineal,'ihe probability of. his turning up | Zealand yen'ture afjavihe' cpjjap'se

of the two great mi n i nR marketSi will have to be reokoned with as a contingency. New Zealand may thus find that instead of English capital pouring in to develop her mines sho will bave to undertake tbe job with her own capital, and then wo shall see how the " wild-catß" will dance to the tune of calls and liquidation. : COLLIER TWO-SPEED OTCM CO. W* Messrs Moorhouse and Hadfiew, the solicitors to this company, have boon instiuotod to take the necessary ate P s . to "sister the company, a sufficient numbor of Bhares having been taken up to justify registration, Instoad of a royalty of 10s per gear, Mr Collior has aped to accept half theproßta remaining afteradividend t of 12 per cent, has been paid to tliß shareholders. The terms are excep. tionally favourable now, and the shares should sell like hot cakes. BUTTER. During the past fortnight thore has been a decided advance in the prico of butter, Danisli rose from 112s to 118s, and colonial from 102s to U2s, nominal for finest, The price of buttor does not promise to •> 1 be any bettor than it was laßt season, **' but as the factories aro advancing less than they were last year, the balancing at the end of the season should show a credit balonco, The general revival in trado may, however, give a better tone to the mar-_ ket aud considerably brighten thtßL prospects, FROZEN MEAT. There has been a marked improvement in the price of frozen meat. On the 19th ult., the quotation for first quality was 3*d per lb, while for the same quality the price is now 4Jd. Comparing the two dates, we get— Sept, 19th, Oct, !)th, Movement, First quality Mutton 37-8 d 4 7-8 d Advance Id Second quint; Mutton 35.8J 43*1 Advance id Lamb 4{d 4Jd Decline \i

MO-IRON. Many people look upon the industrial metals for an indication as to the state of trade, and thero is notbing to equal pig-iron as a trade barometer. When the furnaces are in full blast, there is always plenty doing, because tho great army of mechuuics and labourers who aro employed in the ironworks make work for others, and so the circle of activity is enlarged. Pig-iron in * January last was flat at 41s 6d, it is now quoted at 47s 4df, nn advance oUt . nearly 6s. <4P *' STOCKS. Thero is nothing of any moment to record in Colonial Government Stocks. Tho 4 per cents, show an improvement in four out of tho six denominations, tho other two being •* unchanged. In the 8| per cents., New Zealand's aud Victorian's have declined a } each, others showing an advance, except South Australians, which aro unchanged. The quotations are as under :

* PER CKXTS. , New ZPBland 1929 . N.S. Wales 1933 Victoria 1920 . S. Australia 1936 Queensland 1921 W. Australia 1934 . Oct, Oct. Mom3rd. 10th, ment, .1131 1121 IfalOi ■ 118} 118 Risol&j UOj 110| Rise 10s . 113 113 — .. 112J 113 KiBo5i . 123 123 — 3} PER CENTS. * New Zealand 1910 . N.S. Wales 1921 . Victoria 1923 . S, Australia 1930 . Queensland 1924 . Tasmania 1910 , Oct. Oct. J 3rd. 10th, n . 107 10GJ ft . 100? 107 Hi 1041, 1041 ft . 108} 108} - . lOCj lOli? Bi . 100} 107} Ri oreent. 1 6s c 5) 1 ttj^ e olOi Percy Penhn. .: