FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5174, 5 November 1895, Page 3

FINANCE AND TRADE.

Spcclillj compiled fgr the' Wnirampa Dally Times, 1 MINING news. There is again a revival in mining sharps. Tlio Auckland boom shows no signs of flagging, and so long as . London money is obtainable for oxJrosive operation, there is every ™fcon to bolieve that the boom is jww in its infancy. The Alpha G.M. Company, which has passed into the hands of London financiers, is to liavo a working capital of £30,000, aid this amount is to bo remitted to the Colony in four monthly instalments of £7,500 eaoh. The Now j Albumin Company has declined an offor of £IO,OOO cash and 30,000 £1 shares. In northern mining stocks, Monowai shares offer all the elements ®f a splendid gamble. The oro is vory refractory, but an expert who has been making exhaustive trials, thinks he has solved the problem. f If he can prove his position on a large scale, which he is now attempt- , ing, thou thore is nothing better on the field than Monowai. May Queen shares, at present quotations, are worth buying. Golden Anchor, Queon of Waihi, Victoria and a few i more, aro first-class speculation. Iho Auckland Mining Shore List has a roll of over 160 Mining Companies, a fair proportion of them bping wild-cats. The number of Jobbers, dealers. Company promoters brokers, has considerably increased, and the City of Auckland is alive with them. Shopkeepers find the mining boom a little irksome, as money that should otherwise find its way into their pockets, is being diverted into mining scrip. BALANCE SHlins. The Bank of New South Wales presented a good bal-'ance-sheet at the half-yearly meeting of shareholders, held in Sydney last week. The net profit amounted to £84,7-10, and adding the sum brought forward from last year, tho total amount available for distribution was £106,590, A dividend of 9 per cent, peranuum was declared, and £22,000 carried forward, the earnings of the Bank for the halfyear were just about enough to pay the shareholders per cent, which must be regarded as satisfactory when compared with the results of other banking institutions. The Colonial Sugar Company fattens very well on Protection and Coolie labour. Tho profits of this tor the half-year amounted £50,500, and the shareholders received a dividend of 10 per cent, per annum. The National Insurance Company ' pays p dividend of 9d per share, equal to 15 per cent, per annum. The past year seems to have been remarkably profitable to enable 15 per cent, dividends to be paid, In these days of depression and cheap money, the earnings of Insurance Companies arc suggestive of heavy 1 insurance rates, State Fire Insurance will some day be an accomplished fact, and high rates and big dividends on the part of private concerns will hasten the time. lUNK AMALGAMATION*. The shareholders of the Colonial v Bank meet on Friday to ratify the agreement of sale,and we may expect to hear of a warm and lively meeting. The Directors anticipate that shareholders will ultimately receive 30s per share, but the beliefs of bank directors must bo taken cum Amiio saiw. The shareholders have Wiis nut to crack, that for their capital of £'loo,ooo, reserve fund of £65,000, and undivided profits of £19,980, or a total of £<184,980, they receive in cash only £133,906, with a possibility of an additional sum later on. There will be a row at the meeting, but it will end in smoke, for great is tho faith of shareholders in Directors. CHILLED HEKF. Tho second shipment per s.s, Gothichas proved a completesuccess, which is indeed good news for the Colony. The chilled beef export trade is better for us than the export of live cattle with its innumerable risks. It is unfortunate that the * shipment by tho Gothic should have struck a depressed market, but this is only an incident that may not occur again. Tho success will no doubt lead to increased shipments, which will have a beneficial effect on thepastoralists of the colony, With good prices for wool; with a promising market for butter, and a general 1 upward tendency in all classes of produce it should not be long before jlfear farmers recover from tho depresof tho past tivo or three years. The chilled beef trade will add another string to the farmer's bow. THE SHAKE MARKET. The general tendency of the share market may be described as buoyant. Investors, tired of waiting for investments on mortgage, are turning their attention to shares, and all first-class stocks are in consequence in good demand. All insurance shares are in steady demand at prices considerably in advance uf quotations ruling a year ago, Gas shares also have hardened, with more buyers than , sellers. Bank shares are not keenly sought, but this is not to be wondered at, after the surfeit of banking affairs 'that has recently been given to the colony. National Bank shares havo ■however, firmed, and compared with the corresponding period of last year, show an advance of about 8s per ■share. Thore has beon a little speculation in Colonial Bank shares at .% 18s tid to 19s 6d, and if tho anticipations of tho directors can bo taken : as accurate, these shares should be | worth a lot more money. Gear Co.'s shares arereadilysaleablo Wat £5 3s, but sellers are scarce. The mining market has afforded the ■chances of a gamble to those with limited means,and many have already ■done well. ' MOKEY. Money continues plentiful for mortgage purposes, but first-class securities are scarco, The bank fcates for deposits arc low enough but there is still every probability of the Australian banks further reducing tho rate, The Post Office Savings Bank clings to 4 per cent for some mysterious reason, f ~- STOCKS. British 2| per cent Consols have J dropped 10s and are now quoted at 106 In Colonial Government 4 per cent stock, the tendency is downward, three denominations showing a fall, the other remaining as previously quoted, Tho comparison is as under:— Oct. Oct, Move--24 th. 31st, meat, L r How Zealand 102!) ... 111} 111 Fall 6« W N.S, Wale! 1933 ... 118J 118 Fall 10ai iW Victoria 1920 ... 1101 110} 8. Australia 1036 ... 112| 112 FalllSi! 'Queensland 1921 ... 112 112 > W, Australia 1931 ... 123 123 In tho 3| per cents, Now Zealands record tho greatest dcclino whilo New South Wales have advanced ss. The table of comparison is as follows Oct, Oct. Move* 24tlu 31st. ment, New&aland 19-10 106 105J Fall IBs N.S. Wales 1924 ... 106 106} KUo6a * Victoria 1923 ~ 103 i 103} .Fall 6s 8. Australia 1930 ... 108 iOB —~ Quccojland 1921 ... 1051 105J faiMDUi 1916 ». 106J 10CJ ■ P«B0T PJBHLTW,