"EXPERIENTIA DOCET."

Otago Daily Times, Issue 10417, 20 July 1895, Page 8

"EXPERIENTIA DOCET."

TO THE EDITOE.

Bia,—The experiments made by the City Corporation aud the Harbour Board in testing the local market with their, debenture sectiritiss have proved so successful as to suggest the idea of organising a local scheme by which the purchase of similar securities might be curried ont on a more extended scale. My idea is that one of oar local fionncial or trust companies might organise a department through which p&rties desirous of investing in numerous sound New Zealand securities-now in the London and colonial markets, and yielding large interest, might be enabled to operate to advantage. It is manifest that there h a large amount of money in the colony seeking investment, and willing.to accept lower rates than are being psid to the Honse creditors. Why should the benefit of-these high rates of interest not be enjoyed by oar local investors ? All they want is the initiation of a medium through which to reach th» purchase of such securities. In illustration, I might point to the fact that our Harbour Board 5 per cant, debentures have within the last few months been sold afe £85, whereas they have now been sold by public tender locally at £105. Suppose a small company were formed of reepoasibie men who would make it their business to kwe.p a'register of all Ne*r Zealand securities' with their history, acd for fee an intending investor could get reliable information, aod in the event of^ business resulting the usual commission could be charged.

I might ».t a future time trouble yon farther on this subject. Mesritima I throw out the suggestion tor what it is worth to other com-.s«otfdent6.—-I aca, &s.,

July 17.

Finance,

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