BOGUS COMPANIES.

Poverty Bay Herald, Volume VIII, Issue 1396, 11 August 1881, Page 2

BOGUS COMPANIES.

"Consols are unchanged at 100 J." There is no need to quote further. Those who can read the signs of the times know that money is abundant and sacks investment. Of course we are on the evo of a speculative ponod. All sorts of schemes, from the legitimato investment to the bogus company, will be paraded before tho public, and the usual course will follow. Cautions enquiry — sharo speculation — wild delirium — collapse. Much amusement was felt when the Hon. Mr. Dick said he did not know what was the vocation of a v bookmaker." When it was explained that by well-balanced betting the book'mnkers sought to acquire riches by trading dn the folly and gullibility of men, Mr. Dick would see at once that others — many others — on a larger scale and with wider means at command, are bookmaker too. North Island land speculations, and South Island also, have made some men millionaires at the expense of thoso who have been left to struggle with property sold to them at many times its fair value. The biif bookmakers bagged the booty. Now, this process does not enrich a country ; it only transfers money from one pocket to another. If it were possible, therefore, to have a syndicate, to whom was remitted the examination of every scheme propounded before being thrown on the market, some Httle security would be afforded to the public that there was at least a shadow of a prospect for success. The knowledge that many fair-looking schemes are hatched hy enthusiasts, whose facts are tinted with cordeur de rose, has prevented their bfing advocated by this journal. Very rarely, indeed, has our rule been departed from, 80 many elements must be skilfully combined in order to thu successful prosecution of any industry, that even investing in a land oompany should be proceeded by satisfactory evidence, not only of the existence of the land and its quality, but of the ability and integrity of the directors, and skill, probity, and reliability of the manager,