FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5209, 17 December 1895, Page 3

FINANCE AND TRADE.

(SjifcliHy compiled tor (ho W«lrta|>a Dally Times),

liOAH AXD MERCANTILE. The annual report of the Noiv Zealand Loan mid Mercantile Agency Company, briof details of which liavo been received by cablo, shows tho gross earnings for tho ycat' to be £ £254,514. When one remembers "Wllio many troubles tho Company 1 experienced at tliotimo of its recoilstation, the delay that occurred iu arranging tho schomo of reconstruction ; tho proceedings against tlio old directors before Mr Justico Vaughnn Williams, when the inner history of the Company was laid lmro and tlio more unsavoury portion of it brought to light; when one remembers all these things it is astonishing to seo that the earning power of tho Loan and Mercantile Co. is not impaired. Tho Management of tho Company is now in vory good hands, and with tlio improved prospects apparont everywhere, the future years should see tho Loan and Morcnntiloonco moroamongtlio divi-dond-paying concerns. Tho actual results of the year show a debit balance of £28,893, due it is said to the inclusion of 15 months' interest on the prior lien and A debentures, and if only a year's interest had been taken into account the result would liavo been a credit of >■63207, The book value of the assets been written down by £640,956 Jliut the auditors consider that a fnrthor sum of £817,910 may be required. The auditors, no doubt intend this as a gentle hint to the directors that a fui flier call on the shareholders is desirable, and possibly with the New Year intimation to this effect will be received by llic shareholders. A fiirlhercall if made payable in easy instalments, so as not to press too heavily on the shareholders, would he of great value to tho company and help it to extend its business materially, which, of course would be to the interest of the shareholders

TIIK WOOL SAIiE. The sixth and last of tho series of London wool sales closed last week, and Colonial wool-growers have ho reason to complain at the tone of tho maket or the prices realised. Tho total quantity of Colonial wool catalogued was 170,000 bales, of which 80,000 wero taken by continental buyers, 12,000 bales went to America, and about 58,000 bales were sold for Jionie consumption. Tho sales Tiosed firm, and prices for the better class of wool showing a slight improvement as compared with last sales ; faulty descriptions were a slmdo lower. At the next London 6ate, which will belieldabout the Wth or lath January, there should be a good catalogue of the new clip of Colonial wool, and prices will, it is generally belioved, show an improvement.

THE AI'STRAMAX HANKS. If it- were not for the presence of the Australian Banks, I am inclined to think that the commerial classes of Now Zealand would have been bled. Had wo to depend entirely on Neiv Zealand banks, it isquestionable whether any concessions would have been made to traders. It was the Australian banks that brought down tlio deposit rates, and by so doing forced the capitalists to seek other channels for the profitable employment of their money. The Australian banks have now decided upon wtlici' move, which will tend to increase business, and consequently give employment to labour. The bank-rates on advances or overdrafts tire to be considerably reduced, while fino trade bills will in future be discounted at 5 percent. It is difficult to see how the BankofNew Zealand can come down to the level of the Australian banks, as it is paying '1 per cent- for most of its money.

THE MEAT COJIPAXV. The balance-sheet for the year ending 30th November, 1895, just issued by the Gear Meat Company, will bo a welcome document to its fortunate shareholders, Tho profit and loss account shows a credit balance, after making allowances for depreciation etc., of £10,3G3 2s Od, but this amount includes £3134 (Is dG, brought forward last year. The credit balance is appropriated as follows£2ooo to the reserve fund, £4600 to the payment of a dividend of 10 per cent., the balance being carried forward. The Reserve Fund and Insurance Reserve together amount to £25,705 9s 6d. The fnpany's assets include deposits interest, £IO,OOO ; cash with the Bank of New Zealand, .£3618; cash at Head Office and branches, £3039. The Gear Company is in a very strong and healthy condition, and its shares are cheap at present prices. Sellers aro asking £5 10s, while buyers offer £5 7s Gd. With the present cheapness of money, these shares should be worth at least £G. TIIE ppLOXUI. JUXK. flte shareholders of this moribund institution lire anxiously waiting for t|ip 13s 4d cash which the Bank of New Zealand paid for the business. Tho shareholders must wait a little longer, as the sale and purchase is not completed according to law, and will not be so until the llankof Now Zealand shareholders confirm the purchase this week. Tho Colonial Bank will then go into liquidation, and the appointment of a liquidator, will, no doubt, be made by the directors. This appointment is troubling riot a few'of the shareholders', who (lesjr'e to eeo the appointment conijßd pp someone' 'not associated |Wli the Bant. The shareholders piay desire a lot of things, but unless (,hey take drastic measures they are jipt' likely tp have their wishes gratified. The directprs will see tp this lippointpient, apd their nominee will repeiye the billet. ]Vhen the liquidator is appointed the shareholders may get a few shillings, but those wbo expeot to receive 13s 4d per share will, be greatly disappointed. The Colonial Bank shareholders are displaying a good deal of discontent, and are inclined to " cut up rough," but whon tho time comes for action tbcro will be solemn silence.

siopss. jJritish 2| per cent, Consols have' fjirtb'er improWd this'weel?, and are. |jow quoted at IQ6|. ' There is vpry little movement in' Colonial Government slocks; lifew South Wales and Victorian 4's have : advanced, whjlo South Australian have receded 80s. Pew Zealand's Sjftr cent.- fltocks have moved for- ..; wd ss. The latest quotations compare with those of a week ago as p- under:— 4 I'M! GENT.

Dec. Dec, Move* 4tb, 11th, incut, New Zealand 1929 „ „ 11(1 110 -w Wales 1933 . 114} 114} Rao 10, 1920 . .. 110 111 HiieSOj .8, Australia. 1930 >, .. .111$ 110 Fill 30s - Qdcensland VM. . , 110 110 — V, Auctitlit 1231 , 123 123 —.

3| PER OUST. Deo. Dec. Move4th. 11th. mnit. New Zealand 19(9 . 102} 103 Riso Cs N.S, Wales 1024 .. lnsS iw Rise 10a Victoria 1923 . 103?, 103} — S. Anstralii 1930 108} 108 M Da Queensland 192-1 . 103} 1031 Tasmania 1940 .. 106 101) — I'eiict Pram.