MINE FLOTATION IN LONDON,

Otago Daily Times, Issue 10598, 16 September 1896, Page 2

MINE FLOTATION IN LONDON,

(FbOM OUB Owtf CORRESPOJjPKNT.)

Auokund, September 15,

Mr Sydney Phillip's, who has just returned to the colony after a visit to Knglaud in connection with the flotation of the Maorilaud, Haur»ki South, and Wiiangamata minea, was asked a number of questions as to his visit by a press representative. Ia the course of conversation ho said he was opposed to tUa principle of giving long options. A lot of heartburning at thei delay io getting to work after a.Bale,was owing to the foot that in many esses the supposed sale was simply the sale of the option, the penalty for the non-completion of negotiations being the. forfeiture of the. tefMiti. 'fhe sound principle was to get sound people, and truat them entirely with the negotiations, and the only penalty should be iv action for damages against poople wurth proceeding agaimt. In Loudon the principal cause of anxiety was the election of the United States President. If Mr Bryan was eiscted there would be a tremendous collapce of everything in the way of American securities, whereas if Me M'Kinley was successful a rebound in the opposite direction might bo expected. There was a very general tendency at present to the overcapitalisation of mining coranauie* fur the purpose of getting a lot of scrip. This wag a mistake, and the beet people advocated the keeping down of the nominal, capital, bo us" not to Overcrowd the roarktt with scrip.