ENGLISH.

Timaru Herald, Volume IV, Issue 94, 2 March 1866, Page 2

ENGLISH.

We take the following report on New Zealand colonial securities from the circular of Mr. Weatgarth received by the last mail: — The Mails arrived on Saturday night the 16th, between three and four days after time, and were delivered on Monday morning. The intelligence as to the New Zealand war is less satisfactory than was anticipated, while the resignation of Mr. Weld's Ministry, upon questions of financial and general complication, seemed inconvenient, for the time, as to important pending interests ; and just when the war expenditure was threatening increased proportions, the Home Government (despatch of 26 July) had decidedly rejected the proposition of guaranteeing a part of the Colony's war loans. Excessive aud long continued drought over most of South and East Australia had injuriously aftotal the rvastoral interest, and gave promise of short cereal crSjHfc.

On the other hand, the gold production m New Zealand was rapidly iucreasing_ with the i discoveries of this year at Hokitika, m Canterbury province, and on the western coast adjacent, where gold was being found on the sea beach at a depth of only two or three feet. The yield from Otago and Canterbury for the month preceding the mail, had been at the rate of £3,000.000 annually, and appeared to be rapidly increasing. Nothwithstanding the threatened continuance of the native war, the colonial authorities had begun to re-embark the Imperial troops. The final stage of the Bill for extending the colony's guarantee to the provincial loans, had not been reached, pending ministerial changes, but the new government under Mr. Stafford was known to be favourable to its object. The provincial loans, although but little higher m pi ice, are still tirra with the prospect of the guarantee. A large transaction a few days ago m Otago bonds, (above £50,000) has bared the market of this stock, and comparatively little is offering at the quotation pending the decision of the guarantee question. A price is quoted for the lirst time m the Auckland G per cents., as small parcels are occasionally offered, at about £5)0 ; but the balance of the half-million loan, as intimated by the London Agents of the Auckland Government, is now held for par. The Southland bonds are still withcld, pending a decision on the guarantee bill.