NEW CAPITAL ACTIVITY.
I refer in another column to the fact that activity in new capital flotations constitutes one of the outstanding features in the present situation. Almost every one of these flotations, whether of the trustee order or of the more speculative charac: ter, have been considerably over-subscribed, but as regards the more speculative issues the prize for a rush of appli- cations must, perhaps, be given to the Union Corporation, for the result which attended its offer of 250,000 shares at 20s. per share in the Marievale Consolidated Mines. The issue was reckoned to be a good one, and a rush of subscriptions had been expected in spite of the fact that the whole of the money had to be paid on the nail at the time of the application. The actual result was stupendous, for it appears that the issue was applied for 42 times, which means that considerably over £10,000,000 was sent in.
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