TO COUNTRY SUBSCRIBEKS.

Observer, Volume XVI, Issue 918, 8 August 1896, Page 8

TO COUNTRY SUBSCRIBEKS.

I can recommend the folio wing sharebrokers to tho3e of my subscribers and readers in the country and at a distance who are investing in ahareß and who wish to have their commissions executed by reliable and trustworthy men: — V. J. Lamer, 35. N.Z. Insurance Buildings. James Beld, Insurance Buildings Joshua Jackson, Stock Exchange, Auckland W. H. Bbakespear & Co., Queen-street. Byan and Smith, 109, Queen-st., Auckland Morris & Edwards, B.N.Z. Buildings, Auckland, and Wharf-street, Paeroa. Aitken Carrick, Bhortland-street. D. E. Clerk, 37, Insurance Buildings. Markham & South, Mining Exhange. W. A. Prime, 25, Insurance Buildings. Walter Gaudin, Victoria Arcade. J. M. Shera, Seldon Chambers, 97, Queen-st Allen <fc Co., Mercantile Chambers, Auckland. "Woodhouse & Black, 87 and 89, Queen-st. J. Stewart Browne, 89, Queen-street. Miss Bacon, Queen-street, Auckland. G. F. Brimblecombe, Exchange, Auckland, J. Aleck Walker, 27, Shortland-street J. H. Fleming, Paeroa. Pollock & Johnston, Colonial Bank Bnildings. Mrs S. Walker, 20' a, Coombes' Arcade. Porter and Hauipson. 26, Shortland-street B. G. Jlacky, No. 6, Stock Exchange. Yonnghusband & Burton, Marine chambers Lennox & Hull, 16. N.Z. Insurance Buildings. John Churton, 106 and 107, Victoria Arcade John Phillips, Paeroa. Q. B. Wither, 11, Halyday's Buildings. C. F. Mark & Co., Colonial Bank Buildings. Jos. Smales, 7, Govt. Insurance Buildings. Osmond <fe Ellyeto, No. 1, Cook & bon's Buildings. B. Burns, 87 and 89 Queen-street. Harrison Bros., 76, Victoria Arcade. J. Croo.n v\ ebster & Co., Central Chambers.

Miss J. Hunt, B N.Z. Buildings, uckland. W. B. A. Morrison, Chamber of Mines.

The market is a steadier one this week. It is also stronger, and prices show an upward tendency. For this, we are indebted to the cessation of new flotations. Scrip is no longer being turned loose upon the market at the rate of a quarter- of -a-million or so per day. People have tired once more of investing in promoters' shares, and are turning their attention to the more legitimate scrip transactions ; and so long as they continue to be shy of new ventures, so long will the scrip market harden. Just now, pretty well all the available local money is locked up in promoters' shares, many of which will not be saleable for months to come, so that the relationship between numerous new notations and stagnation on the scrip market is a close one. Too often, good stock has to be sold at any price to pay for promoters' shares that may be worth nothing at all.

It is quite evident that we have not yet found the bottom of the foreign capitalist^ pocket. News still comes to hand from day to day of fresh flotations, and the demand by cable for the option of other de sirable properties is quite unsatisfied. People who talk of the boom as a mere flash in the pan should study the list of properties already floated in London, which is a pretentious one, guaranteeing activity on the goldfields for years to come, even if an ounce of gold were not taken out. And we know that great quantities of gold will be won. Here is a point worth a little reflection, showing the importance which the gold industry has already assumed in Auckland. At the present time, £1,042 per day is being paid in wages in the Auckland district by English companies. \V hat will the wages bill be when all the companiss now formed have got to work ? And yet we cannot get either decent roads or a railway to the goldfields.

I hear that the Kauri Timber Company, whether as a result of the Government legislation or otherwise, are arranging equitable conditions to prospectors and others to undertake mining operations on their property. This is as it ought to be. The former conditions were unreasonable and out of the question. But has it been definitely settled that the Kauri Timber Company really possesses the mining rights upon the vast properties which it holds ? This seems still to be a matter of doubt.

The forfeiture of the Waitekauri Quesen ground has created a decided feeling of alarm and insecurity in the public mind. That there was great neglect on the part of the company's management goes without saying. At the same time, the punishment is not only severe but injudicious. It has offered a premium to men who are not ashamed to adopt jumping tactics to euchre

their neighbours out of their property, and has created a scare in the minds of investors, by the knowledge that they may lose all they put into a property through technical irregularities. In this instance the irregularities were certainly considerable, but nevertheless the decision is a surprise coming from a Warden who has shown such a strong disposition to conserve the rights of capital. The Waitekauri Queen was not being held for speculative purposes. The money had been put up to work the ground, which" was an earnest of the bona fides of the venture. It is said that the dignity of the Warden was ruffled for the reason that the manager was not present, and that the company was not even represented by counsel, but after all, it is hard on the shareholders that they should be so severely punished for no neglect of their own. Since the decision, it is said that there is an army of jumpers on the prowl in every district. Perhaps the Waiteftauri boys will tar and feather one or two of the creatures, and then we will have more security of tenure than we can depend upon from the Warden.

The decision of Warden Kenny at Coromandel with respect to mining on private lands has created a little uneasiness in some quarters. But, at the moment of writing, it is difficult to gather from the meagre accounts telegraphed whether the decision makes things any different from what they were before. We knew all along that lands held under this Act were subject to mining operations so long as the surface was not broken. What we would like to know is whether Mr Kenny holds that the surface may be broken. If not, there is no occasion for uneasiness. This has been the law for many years.

Mangaxaba.— Working manager to be engaged, and vigorous operations to be commenced at once. This looks like business.

Sheridan. — They have very good terms with the deposit, and have waited a tidy time for them. The Sheridan is a good property.

Hekcules. — Didn't boom quite as high as was expected. Holders unloosened pretty freely on to the boomers.

Waitekaubi United. — Buyers at 35/- in London, and shares at less than 16/- here It will pay someone to transfer a few thousand to London.

Bay View. — Very good terms arranged for flotation. But the Morning Star will want better.

Monowai — Mr French deserves much credit for what has been accomplished here. He has been the saviour of the company.

Hauraki North. — I still give this as a good tip for a decided rise. The mine really looks well.

Pride of Hauraki. — Cash paid to shareholders. Stock fell away to Sd when the dividend was handed over.

Albebt. — Position next to the Tairua Broken Hills makes this a wonderfully good thing. Directors have also secured a valuable four acres between the two properties.

"Woodstock. — Stock moving up steadily, but not a shilling more than they are fairly worth. The new battery is far advanced

Stanley. — Good just now for a gamble. If they get that gold in the lower level the property will be worth a bit of money.

Gbace Darling. — Mr Leo Myers goes Home on Saturday in connection with the flotation. Darlings will see more money, and so also will Portseas.

Central. — Those who bought recently on my tip have come out all right. Shares have been pooled in London for six months, so that they are not likely to go very much higher now.

Bunker's Hill. — There have been steady buyers for two or three days at 9s and over. Does this portend something fresh in the mine ? News travels from Bunker's slowly.

Silverton. — The recovery in values has surprised some people. But why ? It was the fall in prices that ought to have surprised them.

Nomfolk. — This is one of the best stocks just now for investment. I have given the tip several times lately, and this week there was a decided rise. By next crushing time, things will be better still.

Imperial. — I have also given thi3 several times as a good investing stock, and this week shares went up in value. Worth present prices, even independent of the sale negotiations.

Great Kapanga.- Where is the £'5000 cash ? The only sign of money we can see is a penny call.

La Mascotte. — I may be wrong, bnt I fancy this stock is worth more than 4d.

Golden Giant. — The reef seems to be a tremendous one, and is carrying a small percentage of gold even in the flinty stone. They ought to drop on decent gold when they get to the other side.

Wealth of Nations. — It surprises me to see that buyers can't get this Btock at 1/-. The money is worth the stock.

Waihi Monument. — What has become of that promoter who keeps the back numbers of the Observer? It was gospel truth after all, wasn't it, now ?

Queen Annie. — Terms of sale in London have been definitely fixed up. The documents leave here in a fortnight.

Aurora.— Changes are pending. The mine is good enough. Results ought to be better.

Kubanui.— The sale of this property in London has been pretty well fixed up.

New Golconda. — Two small leaders have been intersected in this ground daring the week

Waipdku. — A new reef of about three feet has been found on the outcrop.

Kapai Vebmoht.— All the stuff from the three-foot reef in the low level is being aent to the battery for treatment.

Crown. — The additional twenty stampers at the battery will be in operation next week. This means largely increased bullion returns from the Crown.

Southern Stab.— This property has been acquired by a powerful English company, who have commenced vigorous operations. The property is situate in the Karaka block, Coromandel, and comprises about half of the famous Success mine. Those who hold shares, hold firmly, being sanguine of the prospects. The property ought to make its name in a short time.