VIEWS OF A LONDON BANKER
(PER PRESS ASSOCIATION.) London. February 6. Mr A. F. Billinghursr, manager of the country department of the London and Westminster Bank, read a paper on the subject of colonial stocks before members of the London Institute of Bankers. In the course of his remarks he advocated the adoption of a system by which leading coloniss should convert their debentures and inscribed stocks, and make their loans repayable j m fifty years, but retaining the power j during the last twenty years of repaying at short notices. Mr Billinghurst contended that the practice of issuing stocks at a discount simply benefited the dealers. Referring to the stock of 1 individual colonies, he expressed the opinion that investors m New South Wales stocks had nothing to fear, whilst they could scarcely find a safer field ! for investment than m Victorian stocks. South Australia, he thought, had unduly anticipated her future. Queensland had a grand future, but was trying to run before she could walk, and New Zealand, being very heavily burdened, did not present an eligible field for ( investment by trustees.
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Ashburton Guardian, Ashburton Guardian, Volume VII, Issue 2057, 7 February 1889
COLONIAL STOCKS Ashburton Guardian, Volume VII, Issue 2057, 7 February 1889
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