The Colonies and India from London, Greater London, England • Page 24

20 THE COLONIES AUD INDIA 5,1895 Uhc Week's finance. mtm 1 Business on the Stock Exchange is materially slacker, and this is duetto two causes. Firstly, a nineteen-day account is often apt to arouse a feeling of caution, together with an indisposition for large commitments; and, secondly, the Jewish contingent is again absent holiday-making. The paucity of demand has led up to a drooping feeling all round. Consols and Colonial Government are decidedly quieter, whilst Foreign stocks are prejudiced by the outbreaks in Constantinople.

Home Rails show a tendency to slump, but Yankees have had a general improvement all round. In the Mining market, Westralians are slowly but surely displacing Kaffirs in favour, and in Miscellaneous securities the dulness of nitrates and the gyrations of Guinness stock are still matters the liveliest comment. i Triumph (Hauraki) shares been actively dealt in, and the market has been the stronger by reason of the fact that large orders have come from New Zealand for the acquisition of these securities, where their value is well-known. It appears that the popularity of the undertaking has extended to Paris, as 100,000 Triumphs were being acquired by an eminent firm of French financiers at 7s. each.

The property covers 30 acres, which are intersected by reefs, the main lode which has been cut being from 10 to 50 feet in width, and from which at once can be won about 1,000,000 tons of ore. Mr. Thomas, the engineer, reports that 53 tons of general quartz, with 381 ozs. of selected specimens, gave a yield of 7 ozs. of melted gold to the ton.

Triumph shares now stand at and should advance to double that price. The Liverpool Journal of Commerce has some remarks in its last issue about what it terms the new Barnato-Bucknall line to South Africa." As a matter of fact, there is to be no such new line to South Africa. Messrs. Bucknall have for some time past been adding to their fleet of steamers, paying special attention to passenger accommodation, and it was well known that the firm had still larger developments in view. In accomplishing their enterprising extensions, it is not surprising, seeing that the Bucknalla are interested in Barnato companies, to hear that the millionaire of Draper's Gardens is associating himself with the scheme.

At least, current gossip in the City puts that construction upon the mooted "Barnato line of steamships to South Africa." Some further particulars concerning the Barnato Bank, Mining and Estate Corporation have just been made public. The board consists of Messrs. B. I. Barnato (chairman), Henry Bucknall, John Paddon, Isaac Lewis, Woolf Joel, W.

T. Morrison, Henry Walter, H. I. Barnato, Julius Friedlinder, J. Tudhope, and S.

B. Joel. The last three directors represent the company in South Africa. It is officially stated that the company has already interested itself in some of the best securities in South Africa, and on the securities purchased there is a profit at the present market price of over one million sterling. In addition the bank is in negotiation for some extremely profitable business.

Bank shareholders will have a preferential option of participation in future issues." LONDON COLONIAL WOOL SALES. A THE WOOL EXCHANGE, Coleman Street, 40,000 Bales Australasian and Cape, on TUESDAY 24th, MONDAY 30th September; TUESDAY 8th, SATURDAY 12th October. Catalogues, in due course, of CHAS. BALME 61 Basinghall Street, E.C. OR SALE by AUCTION, at the WOOL EXCHANGE, Coleman Street, on TUESDAY 24th September; TUESDAY 1st, MONDAY 7th, and SATURDAY 12th -October 43,000 Bales COLONIAL WOOL.

By JACOMB, SON Wool Brokers, 61 Moorgate Street. This gives us some idea of the essentially sound position occupied by the company, which has been established cn a thoroughly stable basis, and bids fair to make little fortunes for these who are lucky enough to hold an interest in it. The Robinson South African Banking Company (Limited) commenced business on October 1 at its temporary offices, 8 Princes Street, E.C, until its permanent premises, 1 Bank Buildings, Lothbury, E.C, now in the occupation of the Union Bank of Australia (Limited), are available. Mr. James Tyhurst is general manager, Mr.

J. H. Butt manager, and Mr. James West secretary. Kimberley, according to the latest reports, is to make a bid for producing something other than diamonds and dust-storms.

The excitement with regard to the recent gold discoveries is an earnest of further development to follow, and if, as is stated, Rand financiers are taking the matter in hand, a spell of activity and animation is likely to ensue. The reefs are said to be rich and well defined. RHODESIAN MINERAL PROPERTIES (LIMITED). A company, to be called the Rhodesian Mineral Properties (Limited), will, we understand, be floated on Monday. We have been favoured by the promoters with pn advance copy of the prospectus, which, so far as we are in a position to form an opinion, is a very encouraging document.

The capital of the company is and its directors include such first-class men as Mr. Gillam, of Hannan's Star Mr. Marshall, of Morison Marshall; Mr. Pascoe, of the Nigel Deep; and other almost equally well-known company men. We gather from the prospectus that the company will follow in the footsteps of its Rhodesian predecessors, and go in for development and the flotation of subsidiary companies.

Looking to the enormous extent of the properties it has acquired, we should imagine that it will be in a position to put on the market at least a score of such subsidiary companies. The company acquires 543 gold-mining claims and 100 coal areas in Matabeleland. The whole of these claims have been pegged out by men who ought to be able to discriminate between promising and unpromising localities. Further than this, shafts have been sunk at various points, and the. not inconsiderable amount of work that has up to the present been done upon them has proved the existence of a considerable number of rich reefs.

One hundred of the claims are in the Sebakwe and Upper Gwelo district, 133 in the Lower Gwelo district, 100 in the Belingwe district, and 40 in the Buluwayo district. Not the least promising of them all, according to the prospectus, are the 170 in the Upper Shangani district. Old workings of considerable size occur throughout them all, and a fair number of shafts have been sunk. Assays of from 1 oz. to 5 ozs.

have been plentiful, and there is an abundant supply of water and timber. The 100 coal areas, which extend to 160 acres each, and are within 140 miles of Buluwayo, are scarcely less promising as profit-earners. There would seem to be enormous quantities of coal of excellent quality, which can easily be transported to Buluwayo, and from thence to districts where at the present time coal is an expensive luxury. The entire purchase price is but of which 20,0002. only need be in cash.

MOUNT T0RRENS GOLD MINING (LIMITED). The propeity which this company has been formed to acquire is situated about 30 miles from the South Australian capital. It has had a somewhat chequered career; but the truth seems to be that it has been most feebly and ineffectively worked. The original owners got a good deal of gold from the surface, but went no further, having no more capital to go on with. The Federal Bank next took the mine in hand, but itself succumbed to the monetary troubles which pervaded the Australian Colonies recently.

Altogether some is said to have been expended in machinery, including a cyanide plant, the whole of which the present company acquires at a very low figure. Under these circumstances the new undertaking's chances of success seem very good, and the present.