Shares and Mining

Observer, Volume XVI, Issue 924, 26 September 1896, Page 13

Shares and Mining

By Obadiah, the Younger,

TO COUNTRY SUBSCRIBERS. I can recommend the following sharebrokers to thc3e of my subscribers and readers in the country and at a distance who are investing in shares and who wish to have their commissions executed by reliable and trustworthy men :— V. J. Lamer, 35, N.Z. Insurance Buildings. James Reid, Insurance Buildings Joshua Jackson, Stock Exchange, Auckland Ryan and Smith, 109, Queen-st., Auckland Aitken Carrick, ahortland-street. D. E. Clerk, 37, Insurance Buildings. Markbam & South, Mining Exhange. Walter Gaudin, "Victoria Arcade J. M. Shera, Seldon Chambers, 97, Queen-st Allen & Co., Mercantile Chambers, Auckland. Woodhouse & Black, 87 and 89, Queen-st. J. Stewart Browne, 89, Queen-street. J. Aleck Walker, 27, Shortland-street J. H. Fleming, Paeroa. Pollock & .Johnston, Colonial Bank Buildings John Phillips, Paeroa. C. P. Mark & Co., Colonial Bank Buildings. Jos. Smales, 7, Govt. Insurance Buildings. Harrison Bros., 76, Victoria Arcade. Osmond & Ellyett, No. 1, Cook & Son's Buildings. J. Croom Webster & Co., Central Chambers. Miss J. Hunt, B.N.Z. Buildings, Auckland. J. Me rea Brigham, 76, Queen-street. Clarke & Clay, 97, Qneen-street, Auckland. T. D. O'Toole & Co., Central Chambers Rainger & Furness, 18, Victoria Arcade. Mrs S. Walker, 20a, Coombes' Arcade. Miss Bacon, Queen-street, Auckland. G. F. Brimblecombe, Exchange, Auckland. R. G. Macky, No. 6, Stock Exchange. E. Bond, 210 Victoria a rcade. C. J. Owen, B.N.Z. Chambers. Lennox & Hull, 16, N.Z. Insurance Buildings. Younghusband & Burton, Marine Chambers W. H. Shakespear & Co., Queen-street. John Guthrie, 311, Victoria arcade.

The market ia dull without a doubt. Investors seem to be resting a bit. Shares are firmly held, Bellers asking good prices, but the buyers are few What is wanted is gold, good solid stuff that will pay a dividend, never mind how Bmall. There is no doubt that in about a fortnight things will be humming again. Tairua Broken Hills before long will be producing gold, and from all reports a whacking big return will come from it. Anyhow, this ia not at all a slump, nor anything like it. There is no great anxiety to sell, it's bide-•a-wee.

Ceniral. — High tide. Rising Sun. — Good reports from upcountry. A general favourite with the old hands. Talisman Ex. — Flotation almost a certainty, still nothing in the ground. Buffalo. — When are we going to get more gold ? Bunker's Hill. — Funny games going on again in the market. One broker is doing the Irish twist. Haubaki North. — Good stone coming in again. This mine will surprise a few yet. Adelaide. — Qneer. Company's shares sold higher than sbarebrokers'. Why ? Argosy. — It's going to float — 'in treacle.' Cardigan. — Another crowd taken it up to float, and few are anxious for option. Anyhow, £600 to Company. Golden Point. — Reports slow ; the gold seems to recede. Hazeldank — A little bit of excitement likely to come from here soon. May Queen. — Birch is on the job. She'll be Queen of the Thames yet. Moanatatki. — Big works going on here. Clark is going to make a success 'if the gold is there.' Sheridan. — Gold thin ; there will be a fall in this stock. Albert. — The strongest stock in the market. Golden Anchor. — When will they get the reef? Puhi Puhi.— The British Company are now ready to commence crushing, and will be in full swing in a short time. Good atone has been got all over this property, and the results are eagerly looked forward to. Several companies are about to be floated shortly. All the available ground in the Puhi Puhi has been pegged out; but there is a large tract of reef-bearing country extending northward, and before long this will be taken up and mining will be carried on with vigour.

Jewel. — Good solid stock. Borne very good stuff uncovered. ZEALANriA. — Another move coming oh directly. Mobning Star.— New manager making things hum . Dr Jim. — Shares in this company are now on the market. Excellent assays have been taken from the different reefs. A. good investment. Dear Obadiah,— Blnmps 1 Oh, yes; it' is very easy to engineer a slump in mining shares on 'Change Of coarse one or two causes must operate in favour of it, jnst to give some foundation for a fall, then a very alight effort, on the part of the clique manceuvreing, will rapidly, in a naturally weak market, send prices to zero. As a rule the public, when purchasing shares, do not stipulate to have the transfers made out within, say, twenty-four hourß of the time of ordering the scrip; moreover, the broker can always delay the business 'by stating that the seller resides in some remote corner of the South Island ; • this would give from ten days' to a lortnight's grace to the agent; and if the clique, working for a relapse in prices, were all on the same lay they would not transact any business — in certain shares — for perhaps a couple of weeks, consequently, a great fall would result, and the broker would net 35 per cent, over and above his commission. In other words, he would be able, by this bear movement, to buy the shares at 35 per cent, less than he contracted to deliver them at. This little game is known to the fraternity as operating for the fall, and is, I believe, perfectly legitimate. The only method by which purchasers might counter it would be to insist on getting the transfer within a stated period. Of course, bo long aa punters go in for cover bills, P.N'.s, and other forms of credit, so long will they be at the tender mercy of certain vampires, of Queen-street.— H. J. J.

Mr John Guthrie has been unani. monsly elected a member of the Associated Brokers Mr J. M. Shera has the flotation of the Star of Tokatea Special Claim (Coromandel) in hand. A report by Mr J. D. Colebrook and a plan of the property appear in our advertising columns. The Royal Extended Special Claim is to be formed into a No-Liability company of 80,000 shares. The property is situated in the Upper Tapu district, and comprises 98J- acres. Mr A. R. Griffith's report appears in our advertisingcolumns. Mr Arthur H. Taylor is undertaking the flotation. Mr F. P. Jones is offering to the public a special claim at Tararn, of 100 acre?, called the Golden Star Extended. It is bounded by the Argosy, Straight Tip, Arundel, King Soloman and Golden Star. Mr George White reports favourably of the property. It is proposed to form it into acompany of 70,000 share.", 85,000 to be offered to the publicat £25, and 35,000 retained by promoters. Messrs Haultain and Wynyard are placing on the market the National Special Claim at Kuaotunn. It is proposed to form a company of 1)0,000 shares, of which number 40,00 are offered to the public at x3Q per 1000. More than half this number have already befn subscribed, bo that it would be well for intending investors to look up the advertisement which appears elsewhere before it is too late. The Dorothy calico and fancy dress ball takes place on Friday nest, September 25th, in the Choral Hall, Symond-street. The committee are sparing neither tronble nor expense for the success of the fair. They tell me the decorations will be lovely. * Grand March at 8.15 p m ; Marriage's full band of seven instruments in attendance, and for the convenience of *the Ponsonby visitors a special tram will run from the Three Lamps at 7.'20, and return after the ball. To those of the public that have attended the many successful limelight concerts held during tbe winter, it will be pleasing to learn that these concerts will be continued in the City Hall, on Wednesday next, under a new management. The snbject, ' A Holiday Glance at the South Coast of England ' including those worldfamed watering-places, Hastings, Brighton, Cowes, etc., is in itself a big attraction. The talent engaged is far above the average, and includes Mr Albert Lucas, who will give recitals — the pick of his repertoire — and Mr "Worrall, bass, etc., etc. The scenic department is in the hands of Mr Chas. E. Mackie. whose effortß have already been appreciated at these concerts, and he will operate the magnificent triunial lantern just imported by his firm. Thiß instrument is really a work of art, and having seen it we can -safely assure onr readers that a finer apparatus has not been exhibited here or in the Colonies. Those interested should call at the firm's premises and inspect it. The descriptive lecture will be given by Mr Peter Mackie, so favourably known in amateur circles. See advt.