FRESH CAPITAL ISSUES.
After a prolonged pause in capital flotations it is customary to find that the resumption of issues is led by those of a sound and attractive character. Among trustee issues likely to make their appearance before long it seems likely that the first will be for New Zealand, and while the market is disposed to be somewhat critical just now with regard to Colonial issues, New Zealand ranks among the most popular of the Colonial borrowers. In the first place, the New Zealand Government is freer from the Labour element than some of the other Australian States, while, in the second place, the Government is also to be commended for the fact that it condescends to give ample details with regard to its debt, revenues, sinking fund arrangements and so forth. So Meagre, indeed, are some of these Colonial prospectuses in details that it is felt that the Trustee Act is becoming rather abused, and the suggestion is being made that all borrowers, whether Governments or Corporations, should, when their loans are included under the Trustee Act, be called upon to give certain prescribed details for the aid of the investor. * * * *
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