COLONIAL CREDIT.

Press, Volume LIII, Issue 9359, 7 March 1896, Page 6

COLONIAL CREDIT.

Commenting on the recent rise in stocks, the Melbourne Argus says :—Of the colonial Z_ per cents Victorian have most benefited by the general upward movement, the ris« \ being I_. It is highly satisfactory to note 'f\ that Victoria,n 3_ per cents, have relinquished the lowest place, which is now occupied (and for the colony's financial . < quackery deservedly so) by New Zealand 3. per cents. Since the close of 1895 the movements in the principal 3. per centshave been as follows:—

Three Australasian 3 per cent. loan, hsva how been placed in Loo lon with a degree of success indicating that 3 per cent, ia tbe rate of the future. The loans are as follows :—

• Average--1895. prio. obtained JuneS New Zealand, £1,500,000 „ £94 8 9 Oct. 10 New South Wales, £4,000,000 96 18 3 1896 Feb. 20 South Australia, £859,500 .. 97 411 _ -'

The average prices obtained are subjoot to __. s deduction for accrued interest. South " > Australia haa done better than Now Zea- - land, all other things being equal, by BZ . 16s 2d per oent. The time for the flotation has boen opportunely chosen. But, although ;' a higher average price of isaue haa bean obtained on this occasion, yet it compares ' . with current quotations for the previous ~; j issues aa follows, viz. :—New South Wales > I 3 per cents., 99|; New Zealand 3 per cents., I 97|. The rise in colonial credit ia very ~-/] satisfactory, but it is ueedless to addl that ;• tho holders of the 4 par cent, and 3. par cent, issues are not at all likely to surrender the advantages they possaaa. Not until the long-dated loans of large amounts become repayable will the colonies fully benefit ny the fall in interest, always supposing w*» the fall will continue.

,.■■ Deo. 28. Feb. 21. Rise. Victoria .. ..""" ~ 102 105. 3J Ivew South Wales (JrareliSeptember) .. .. 104. 106.. 2 South Australia .. ..105 108. faj Queensland .. .. 103, 107. 3* New Zealand .. ..103 10oi • 2. j Tasmania ■ ■ •: 104 lOoi Uj _ j