Finance Stocks and Mining.

Free Lance, Volume VI, Issue 291, 27 January 1906, Page 5

Finance Stocks and Mining.

THE London money maiket is improving, and steadily getting back to normal. Still, there is lass money available for the open, market than a week ago, and the discount rate has been forced up 5& per cent. The Moiooco Conference -& proceeding smoothly, but the Russian disturbance is still to be leckoned with. The Russian Government secured £10,000,000 from French bankeis, on very stilt terms, and a further loan of a similar amount has been secured! in Berlin. Russia is paying heavily for her loans, and, with the money obtained, wali be able to buy, temporarily internal peace. The financial stress of Russia is an important element and must be taken into account when considering the money market. • * * Coming to the colonies, the position is very satisfactory. In Australia, money k» in abundant and the pending Victorian loan of £1,500,000 is expected to be a great success. New Zealand is to raise half-a-mallion or a million sterLng m Australia this month, probably next week, which is bound to meet with favour. If the Governments dk> mot mop up all tne available credits, we ought to see a great expansion in industrial enterprise thk year, to the advantage of the community. • • • The produce markets are not so promsing from latest reports. Crossbred wool, the grade of wool that is the staple of the North Island, is 5 per cent lower, frozen meat continues depressed, and butter has met with a reTerse On the other hand, hemp i& firm The adverse tone of the principal markets is not of very great importance, and there is little doubt that there will be a revival very soon. On the whole, the prospects are good, and. the next few months should witness considerable industrial activity. • • • ' The twenty-eighth annual report of the Equitable Building and Investment Company, for. the year ended 31st December last, shows a credit balance of £8193 8s 4d. The dividend for the year is equal to 10s pea- share, absorbing £5000, and £2500 has been added to the reserve fund, leaving £693 8s tf to be carried forward. The balancesheet shows deposits and interest to amount to £255,116 6s 6d, and the amount invested m mortgage, with interest, £339,235 4s 7d; cash on deposit, £3000 The amount received! in ■ interSt on mortgage totalled £19,023 and income from other sources ±,si« Ss 6d The interest paid and due amounted to £10,225 2s lOd, and the general expenses totalled £1009 3s lid. •* . * During the year, to the 30th September last, the P. and O. Comply egTEJ £984,687 in passage money, ±-l,oo»,/B4 in freight, and £344,153 on Government contracts. In addition to ordinary expenses Suez Canal dues absorbed £321,274, ships' repairs £245,316 and depreciation was credited with £sdo - 040. It is reported that the Australian tiade is improving m bulk, and that the China-Japan trade is being overdone with tonnage. The dividend of 13 per cent, on the deferred stock was the same as for the three previous years. » . • The thirty-third annual report of the Wellington Trust and Loan Uwnpany, covering the period to the dlst December last, states that the net pVofite totalled £10 913 5s 9d and there was brought forward £1490 15s 2d, making a total credit balance for the year of £12,404 Os lid. The dividend for the year, at the rate <>f 8 per cent, absorbs £8100, and £2500 has been added to the reserve fund. The balanoe to be carried forward is £18U4 0s lid. • • w The detailed figures of the balancesheet show that deposits and interest amounted to £305,471 9s sd, and the sum invested on mortgage and other securities to £429,105 19s The special deposit amounts to £3000, arid the bank balance is £7010 19s. The income from interest, rents, and fees totalled £25,069 Is 2d L and the general expenses totalled £1304 l?s Bd. • « * The report of the New Zealand Loan and Mercantile Agency ConroanY Limited, shows that a profit of £121 951 was earned. After payment of the interest on the prior lien and second debenture stocks, there remains £22,052.

of which the year's interest on the third debenture stock at the full rate of 4£ per cent, will absorb £16,900, leaving £5151. Of this last amount, the directors appropriate £3548 to write off the company's propoition of costs of the Act of Parliament obtained in 1904 for dealing with, thei trustees' certificates, leaving £1602 to- be carried forward. The business of the company <*hows excellent improvement. Investors have settled down to business, and the call for shares of all descriptions is excellent. In bank shares, there is a continued demand for Bank of New Zealands, which have changed hands a tas high as £7 12s, with buyers at £7 11s. National Bank shares are wanted at £5 15s, sellers asking £5 17s 6d. * * # Fiiancial shares are in excellent demand, but se ler, are scarce. There are bds of £10 5s for Equitable Building. £7 7s 6d for Wellington Trust and Loan, £12 for Metiopolitan Building, 12s 3d for Wellington Building, £3 Is for Nationa 1 Mortgage, and 28 > for New Zealand and River Plate shares. # * * All gas shares are in favour, but holders are not to be tempted with the current market rates. There are buyers of Chriistchurch G-as at £9 15s cum diiv., Feilding Ga=. 23s 6d. Gieborne G-as 375, Napier Gas £25, New Plymouth Gas £7 10s, PaJmerston North Gas £5 10s, Wellington Gas £18 10s. and £9 5s for the respective issues. * * * Insurance shares are firm. There are buyers of New Zealands at £5 12s, Sou L h British at £5 11s, and Standards at 18s. Meat shares are moving. Canterbury Frozen Meat shares are wanted at £6 10s, sellers asking £6 15s. Geiairs are in demand at £8 and £2 3s for the respec'we issues. Christchurch Meat shares are offered at £10, with no buyers. • * * Manawatu Rails changed hands at 375, Union Steam at £15 ss, Kaiapoi Woollen at £5. Leyland and OBrien Timber £2 3s, and Ward and Co. Brewery at £5 10s. There are> buyers of Taupin Coal at 19s, Westport Coal at £6 9s, New Zealand Drugs at £2 5s 6d. •'New Zealand Times" at 425, and Sharlands at 22s 6d. • * * In mininer, business appears to be confined to the North. Talismans have com© in for a good deal of attention, and have changed hands at as high as 30s, and exhibit an advancing tendency. » • » The goldfields of Australasia for 1905 totalled 4.127,000 fine ounces, of which the Commonwealth contributed 3,635,301 ounces, and New Zealand 49^,600 ounces. The figures for 1904 were : 3,747,342 ounces for the Commonwealth, and 467,897 ounces for New Zealand.