NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY.

New Zealander, Volume XXII, Issue 2431, 17 May 1865, Page 3

NEW ZEALAND LOAN AND MERCANTILE AGENCY COMPANY.

(from londox correspondence op " wellington advertiser.")

I understand that a new Company, entitled the "New Zealand Loan and Mercantile Agency Company, limited," with a capital of one million in 40,000 shares of £25 each, is about to be introduced to the notice of the London monied public. This company, in its prospectus, proposes to call up" only £200,000 of its capital, raising the balance to £BOO,OOO by means of debentures, paying 6 per cent, interest The business proposed to be undertaken by the company is, to make advances by mortgage on freeholds, bonds and debentures of public companies, on the stations and stock. of squatters, and lastly, to advance on wool in the colony, and ship the same for sale by the company's agents here. The Board of Directors named are D. L. Murdock, managing director; Thomas Russell, James Williamson, Thomas Henderson, W. T. Buekland, and Robert VVateraon, all of Auckland ; J. Cracroft Wilson for Canterbury. From the above it will be seen the proposed Company intend to combine the business of money-lenders and commission agents. The Bank of New Zealand closely identifies itself with the Company by agreeing to take on its own account 5,750 shares in the concern, and to guarantee that 4,250 more will be taken in the colony. I think there can only be two opinions as to the great good which will result to New Zealand by a steady influx of new capital by means of this kind."