COMMERCIAL.

Daily Telegraph (Napier), Issue 4079, 18 August 1884, Page 2

COMMERCIAL.

W. G. MOTLEY'S SHARE REPORT.

Monday, August 18, 1881. I quoted in my report of January 19 a list of the loans then about to be placed "on the Loudon market by the different colonies south of tho equator. The total sums to be asked for amounted to no less than nineteen millions sterling, made us as follows: — Colony. Loan. South Australia ~ .. £1,500,000 Tasmania 500,000 New South Wales .. .. 3,000,000 Queensland 3,000,000 New Zealand 1,000,000 Victoria 4,000.000 Cape of Good Hope .. ~ Municipal and Harbor Boards.. 1,000,000

£10,000,000 —In consequence of so large an amount being distributed, I anticipated that money in the course of six months would become much cheaper and easier. That anticipation has been verified. The Bank of New South Wales has led off with a reduction of one per cent, on fixed deposits, and the other banks at once followed that action. In consequence of cheaper money a considerable rise has been experienced during tho last six weeks in all kinds of good investments, as tho following quotations will show: —National Insurance from 21/----to 25/G, South British, from 52/- to 58/G, Union 21/- cum. div. to 24/- cx-div., Colonial Bank 40/- cum. div. to 43/- cxdiv. All other investments have shared in this general buoyancy, and as tho prospect of still cheaper money cannot he doubted lirir-es for all descriptions of stock may be expected to harden. Speculative stocks arc still very quiet. The only line I have to record is the Humphrey Gully United Gold Mining Company. In consequence of the company's large water race being nearly completed I have been enabled to place 1400 shares, contributors at from 3/0 to 5/-, and promoters at 10/-. Great results are anticipated from this company from the fact of 105 ounces of gold having been obtained during the construction of tho tail race. Petroleum Oil Companies.—The directors of the Southern Cross now consider they have made a fair start with new j>lant. A |

bore of 450 feet in depth was put down in twelve days, and good progress is being continued. At the South Pacific Company's works .Mr Weaver, the contractor, is engaged in building a new rig, and when finished he will commence his contract to drive a bore of 1000 feet in depth. g a l e3- —lnsurance : Equitable, 1/6 ; New Zealand, 74/-. Sellers.—Banks: New Zealand, £22 15/Colonial, 43/-, ex-div. ; National, 67/-. Insurance: New Zealand, 74/-; National, 25/6; Union, 24/- ; South British, 59/- ; Standard, 13/6 ; Colonial, 8/6 ; Accident, 6/- ; Accident Association of New Zealand, 2'G. Loan Co's : New Zealand Mercantile and Agency, £5 15/- ; National Mortgage and Agency, 26/-; N.Z. Laud Mortgage, 14/6 ; Northern Investment of New Zealand, 21/-. SmrriNG: New Zealand, S2/- cum. div.; Union Steam Shipping, £12 5/-. Miscellaneous : New Zealand Drug, 23/6 ; Mosgiel Woollen Co., 85/- ; Kaiapoi Woollen, £25 ; Westport Coals, 22/-, 40/-, paid, and 31/-, 50/- paid ; Humphreys Gully United Gold Mining Co., contributors 5/-, promoters 10/3. Buyers.—lnsurance : Standard, 13/- ; National, 24/9 ; Union, 23/9 ; South British, 58/- ; Equitable, 1/4. Banks: New Zealand, £22; Colonial, 42/G, ex-div.; Napier Gas, £11; New Zealand Land and Mortgage, 14s ; Humphreys Gully United Gold Mining Co. promoters 9/6 ; Mosgiel Woollen Co., S2s Od.

By Electric Telegraph..—Copyright. (eeuteii's telegrams.) (Received August IG, 3.20 p.m.) London, August 15. Consols remain at 100-g-. New Zealand securities continue at last last quotations. Five per cent. 10-40 loan, 104-J-; five percent. 1889 loan, 104J ; four and" a half percent. 1879-1904 loan, OSJ, ex-div. ; four per cent, inscribed stock, 101. Colonial breadstuffs are without quotable change. The total quantity of wheat afloat for the United Kingdom is 1,760,000 quarters. Tallow has advanced by Od per cwt. Australian, average quality, beef and mutton, is at 35/-. Copra, best Sydney sundried, has advanced to £18 per ton. Leather, Australian, best sides, rcmum at 12d. Kauri gum, best selected transparent, has declined to £15/5 per cwt. Mutton, prime New Zealand 5d per lb. _ At to-day's wool auction good competition was experienced, The catalogue comprised 10,500 bales. Cross-brcds arc now ruling fully a half-penny higher than at the close of last sales. (Received August IS, 0.15 a.m.) August IG. Consols remain at 101 jj, and New Zealand securities at yesterday's quotations. Adelaide flour, ox-store, 27/-. Australian tallow, average quality, beef 35,'-, ditto mutton 35/-. At to-day's wool auction 10,100 bales wcic offered. The market continues firm.