Commercial.

Dominion, Volume 1, Issue 3, 28 September 1907, Page 9

Commercial.

; : : .THE SHARE MARKET. i . Sharobroke'rs experienced a quiet \ time yesterday, the natural result of J Thursday's holiday. Only one sale was ; recorded" on 'Change, viz., Christcluirch ) Meat, which changed hands at.MO 10s., \ yielding. the investor a ; return of £V 12s. sd. per'cent, on tho basis of ; the last'dividend declared. -There.'was no, business offering in bank shares.- , New: Zealauds are nominally at .£lO, but sellers aro willing'enough to accept ; £<J 18s. Nationals are offered at £o. Vs., :' which is a shade above the figures of the last sale. ".Financial shares appear to b'o.in rather better demand, with buyers of Equitable Building at XlO, Metropolitan Building at -£12, and Wellington. : Trust and Loan .at £7 Bs. National Mortgage shares display a hardening /tendency, and ,buyers are freely offering £3 3s. without meeting any response. New Zoakyid and.River Plate shares are also very firm, and can be readily placed at 295. 3d., but : holders apparently ! expect something better. Loan and Mercantile aro offered ; at 75., .Wellington Investment at 125.-' 3d., i and Wellington Deposit at 10s. Gas shares are quiet,- but there is a strong demand for Hawcra Gas shares at 225. Wellington Gas shares are wanted on the basis of .£l9 £10 issue. There' are:sellers of Gis- ' borne Gas at ,£2-135.: Insurance shares continue quiet. Nationals have received the most.attention 1 recently, and aro in demand at 275. 3d. New Zealands arc offered at £4 2s.' 6tl. JiV,, m . eat shares, apart from thb salo of Christchurch Meats referred to above, there are bids of 475. I'orXl Gears, and ;C3 ss. Gd. for Wellington Meat Export; ' paid-up. Railway, and shipping shares] ' are neglected.' Manawatu Bails- are offered at 425., and Wellington Steam ■ Ferry at 18s. and. 12s. Gd. for the respectivo issues. Coal shares ■ command somo attention,with buyers, of Westports at £1 14s.,.and Wcstport-Stockton at 7s. There is Gs. Gd. per. share paid up on tho latter. Kauri Timber shares, 15s. paid up, are in demand at 7s. 9d., and Mountain Rimu Timber shares wanted at '235. Gd. Wellington Opera, House shares are very firm at 10s., but the bid is not sufficiently high to attract ■ sellers. - Thero are - sellers of Donaghy Rope and Twine shares at £s '7s. Gd., 'Manning and Co. Brewery shares at £o, and Taranaki Petroleum at lis. There is.nothing of importance to report as regards tho mining mraket. Sellers of Waihis-have, weakened since Wednesday, when £8. Its.' was' asked. Yesterday they were. content: to accept 1 £8 ; 125., but there' -were' no -buyers. Talismans aro unchanged, with buyers offering £2 7s. 3d. Tairua Broken Hills wero asked for at ss. 10d., Kuranui at Is. 4d., and Big Rivers at lis. Gd. ,-.--. ■ .':,;';'., ; .finance. .'•,' ; '_.'■ -local money-market. :. The usual conditions peculiar to the end •of the quarter, and when three banks aro about to close.their books for the half-year, are to be noticed, and although .there is stringency in ' some directions and with; somo branches of'trado and industry, on the .whole the position.is satisfactory.- Tho Bank of New Zealand, the- National Bank, and the Bank of New South Wales close their, books for the'half year on Mon-" day afternoon, but only tho Bank of New South Wales will issue a balancesheet, it ■ being the practice of that institution and tke.two other AngloAustralian ■ .banks '. operating in the. colony'to issue balance-sheets. ' '. DISHONOURED' BILLS. According tq' the .*-' West Australian " tho banks thero are making a charge on dishonoured'billsi for collection, payable at "towns other, than the towns where such bills are. lodged, as follows: On bills' of amounts up.to ,£SO, 6d.' each; "on bills of amounts over .€SO, Is. each. ,The chargo is made on individual bills. Recalled bills: are exempt.- The :bank' discount: rate in West Australia is 7 to 8 per cent., and a; charge !of 10s. Gd. per half year, is made on,all current-accounts, whether • debtor or creditor. ..-',,.v'/ WOOL. SALES./ ':', • London, September.' 26.. At the wool sales the average prices realised .for flock \ portions of the following' clip's were:—Paritu, 9§d., Ratatc, v 10 l d. Crossbreds' were ''fully equal to s July rates;! Merinos'were 7i'per cent, higher. ... •• ■, The sale fixtures for next year are':— January., 21, March, 17 (unlimited), May 12, July .14, September 29, and November . 24. ; - Limits will be fixed . later, if necessary. "..■' Messrs. Levin and Co., Ltd., report: Wo held bur 'fortnightly'sale to-day (Friday), offering 30 bales of wool, 2000 skins, 700 hides, and ill quantity of tallow and horsehair. There was a good attendance of buyers and bidding was firm at last sale rates. ■ Wool.—We quote: Coarso' crossbred, 7d. to Bd.; rough and inferior, Gd. to 7d.f pieces and bellies, 4-Jd.' to s}d.; locks, 3d. to Id.; crutchings Xgo'od), sd. to 6}d.; criitcWngs (seedy), 4d._to sd. Skins.—Steady ;iio change to record. We quote: merinos, 7d., to Bd.; fine crossbreds,'■ BJd. to 9'd.; coarse crossbreds,' Bid. to BJd.; dead . skins, 6Jd. to 7fd.; dead hoggets, GJd. to 7d.; dry pelts, sd. to green skins, ss. to , Ss. Id. ~V • . -~.._ Tallow.—Firm.' Parcels in shipping order to £2S 10s.; tins,',£l7 t0.£23 10s.; rough fat, ' '. Horsehair: Is. to 4d. per lb„ . Horns, Gs. to-255. 9d. per 100. Cowtails, Is. to Is. Bd. per dozen. • Hides—All good-conditioned hides wero strongly competed for at recent rates. Cut and . slippy hides wore slightly, easier. We 'quote:. Ox hides (extra heavy), Gf.; ox hides-601b. to 701b.), 52d.-to 6|d.;V hides (501b. to 591b.), sjd. to Cj*d.; cow' hides,. 44d. to . .iSd.j calf skins (best), Gd. to GJd."; calf \ skins (cut, and ' slippy),. 3d. to 5d.; hides (crossbreds), 3d. to 4-Jd.; stag 'hides, 3d. to 3|d.; bull hides, 21d. to 3Jd. . Messrs. Abraham and William's, Ltd.,' report on their salo held to-day as • follows: Wo offered a fair cataloguo of wool, skins, hides, and tallow. There was a' good attendance ;of 'buyers and competition was keen 'for everything offered. The drop in Loudon on coarsewoolled ..skins affected tho prices, slightly. Hides showed an appreciation on last sales. .We quote: Wool.—Medium crutchings, s}d. to sJdl; .inferior,. 4Sd.; dead wool, Bd. ' Skins.—Fine crossbred, SJd. to 9<1.; coarse, BJd.; short wools, 74.(1.; good dead wool, 74, d.; inferior dead, <5:Jd. to Cd.; butchers' half dry and green, 73., 7s. 4d., 7s. 10d., Bs. 2d. to Bs. Bd. Hides.—Medium, 5Jd. to,sJd.; light, sd. to 5Jd.; medium cows, sd. to sJd.;' light, 4]d. to.od. Tallow in shipping condition,- 2Gs. 3d. per cwt. -. i Dalgety and Company, Limited, have received th'e following cable from their /■London house, under date of the 26th inst.':— i- • Tho quantity of new wool to be ad-' m tted is not limited, and all arrivals up to within eight days of the openin? of the sales will be'admitted. The sales for next year liuvo been fixed fo open on January 21, March 17, May 12, Jily .14, September 29, November 24, . Is;, . 2nd, .3rd, :4th, sth, and Gth se/ies respectively. Other sales, if any, to be arranged for later. Sales opened firm, and lately reported rates aro fully maintained. Merino wools—prices aro on tho average 1\ per cant, higher than opening rates of last season. Crossbred wools—prices are on the average 5 per.cent, higher than operi-ing-rates of last season. Medium crossbred wools—priacs aro unchanged. Coarse crossbred wools—prices are on the average at par to 5 pcr'cent. higher than opening rates of last season.' Lambs' wool—prices aro on the average 5 per cent, -.'higher than opening rates of last season. . Messrs. Murray, Roberts, mid Co. /have received tho following wool and ' sheepskin market cablegram from their London house, Messrs. Sanderson, Murray and Co., .dated Soptember 26, 1907:- y . . Wool—Tho market is firm. Merino - has advanced s_to' 7i nor cent. Sheepskins.—Merino have advanced a ,'ld. . For fino crossbred the market is ■/.Arm, and for otlivr -descriptions the : market lias .iluclinsd a.id. to a Id.- per lb. "

•METALS. London, Soptember 2G. Copper.—On spot, ,£65 10s.; three months, ,£05.155.; electrolytic, ,£69. Tin.-On spot, £1<& 10s.;- threo months, .£165 15s. Load—.£2o ss. LONDON MARKETS. Dalgety and Company, Limited, Wellington, havo received the following cable message from their London house, under date of the 2Gth inst. :— Butter.—The market is firm, and better for spot than distant. Tho Copenhagen official quotation is unchanged. The total imports of butter into tho United Kingdom for week-ending 21st inst. amounted to 70,000cwt., as compared with Sl,ooocwt. for tho corresponding week s of 1908. ■ Frozen meat—Frozen lamb—market dull. We look for a higher rango of price's in the near future " Hides.—Market dull. ' '. . ' Leather.—Any change in prices is in favour of buyer, i Basils.—Prices are firm. ' MINING NOTES. \ ' The completed returns of tho gold ■output' of Australasia, for the eightmonths ended July 31; are now available, and the figures arc very disappointing. The output of the Commonwealth! is 2,083,863 fine ounces or 222,659 ounces less than for tho corresuonding period of last year. West Australia exhibits a shrinkage of 105.G80 ounces,. Victoria G7.802 ounces; and. Queensland 42,943 ounces. Tho New' Zealand,' yield for the period is 310,897 ounces, or 40,957 ounces less than • last ■ year. The shrinka'ge, it is claimed, is not due so much to tho closing.down cf-mines, as that the grade-of ..the ore has become poorer. The following table gives the comparison :— 1906. 1907. .'Ounces. Ounces. West Australia ... 1,211,033 1,105,953 Victoria ... ... 52-1,052 45G.250 N.S.W. ;■' ... ... 168,892 168,348 Queensland... ... 34-1,955 302,012 South Australia .... 9,000 . 11,300 Tasmania .... ... 48,000 40,000 Australia ... - ... 2,306,532 2,053,863 New 'Zealand ... 351,854 .310,897 . . 2,058,386 2,394,760 The figures for South Australia and Tasmania are estimated. The .output of Kimberley diamonds in 1903, 1801, and 1905, totalled 7,250,000 carats, or 14 tons,'valued at .£14,450,000. Since the Kimberley: diamond- mines have been in operation, tho output 'therefrom has,been. 13J- tons, of a value of about .£95,0,00,000. It is stated that more diamonds have been produced in the past 40 vears than in the previous 1000 years The American Consul at' Pretoria furnishes tho following report on tho mining and industrial development of Rhodesia; The expansion of tho gold industry in Rhodesia to tho annual production of ' 10,000,000 dollars (.£2,000,000) of the metal has been accomplished by the small investor and individual effort rather than' by moans of capital. Small reefs have been discovered in this territory, and many are confidently predicting that Rhodesia in a few years may perhaps excel ' the Transvaal in the production of the prc : cious metals. : Small operators, with little capital, by their own efforts have of late been extracting nearly onethird: of the total amount of gold found, and their earnings have been spent mostly in tho Colony, ns a consequence of which thero has been a revival of trade. While 6uch crops as tobacco, 'cotton, and 'wool have been trying to find their way into' the distant markets, local demands for grain, fruits, and fresh meats are being met more and; more, by the Rhodesiau agriculturists, themselves. During the seven months ended July 3)s't, Great Britain imported gold to the value of ,£27,158,812, and exported ■£19,759,613, the gain on balance being .£7,399,109. The imports of silver during the same period totalled and the exports to .£10,700,236. ■ ■ , The total val.io oi the gold production of the Transvaal for'the first half of this year- is .£13,332,490, which compares with £11,283,878 in-ithe* Juno halfyear of 1906,. an increase of i£2,0i8,!j12, equal-to 18.2' per cent. •"'' : ' The "Chemical Trade Journal" (London)- has a brief article which cannot but be of interest to New Zealand, -where quartz occurs in such profusion'. I :' The journal; states:—" The possibility of constructing, vessels for' chemical work from .fused quartz has long been a dream of chemists. The refractory qualities of this mineral, rivalling those-of-platinum itself, its hardness and resistance to acid corrosion, sufficiently entitle it to a high place in the list of desirable materials for chemical, utensils. To these .must bo added the unique property of practical indifference to the expanding ■ effect of heat. So marked is this property that articles of fused silica, of considerable thickness as compared with vessels of glass and ..porcelain, may .be-heated to redness and suddenly cooled without risk of breakage.'. Against'lhese advantages there has bsea hitherto the dra-vback of high price. The, labour of building up a vessel piece by piece with th-j costly oxyhydrogen or oxy-acetylene flame renders impossible the cheap production of ve;sels : in quartz, and only those to whom economy is not a consideration can provide themselves witn .such luxuries. As a result of long io-search,-the Thermal Syndicate, Limited, of Wallsend, havo succeeded in manufacturing, and placing on tho mar4rct such articles as muffles, basins, tubes, and sheets in semiropaque fused silica, at prices which bring thern within the reach, of -:aU\chemists. The ii-.dustry is young, and- further improvements are 'already in sight,' and chemists.may/hope to seo tho field of usefulness for fused silica, extended in tho near future. Demand is bound lo stimulate supply,'.and every encouragement should be given to an industry so important to the analytical chemist." . , (Press Association.) \ Dunedin,' Soptember 27. : Stock Exchange sales: Rising.Sun, 19s. Gd.; Nelson Creek, 7s. 6d.; Now First Chance (3 parcels), 55.; Rise and Shine, 21s. 3d. , GRAIN MARKET. By Telegraph.—Press Association. Christchurcri, September 27. There is a firm tono in the grain market, but no business is passing. Tiiero is no wheat offering, and thoughthere is a good local enquiry for oats, supplies are difficult to get. Chaff is also firm. ' , MASTERTON BUILDING SOCIETY. The balance-sheet of tho Mastertori Permanent Investment and Building Society for tho. year ended August 31, shows - that tho society's income from interest, fines, fees, and rent amounted to £3344 13s. 5d.; tho expenses of management, printing, and 'advertising, and depreciation of office furniture totalled £584 45.; interest on deposits'and bank overdraft absorbed a .further sum of £936 Bsjld.; leaving £1824 Is. 4d. as the net'profit, which was equal to 8.76 per cent, as against 8.24 per. cent, in the preceding year. The not profit was tho highest earned since 1897. The loans on mortgage at the close of the year totalled £51,250, being £G3OO in excess of the figures for 1906. The liabilities include deposits £23,336, bank overdraft £26(1. During tho year the directors increased the permanent capital of tho society by the issue of 250 fully paid up £10 shares at a premium of £1 per share. . FEILDING SALE. Feilding, Soptember 27. The New Zealand Loan and Mercantile Company report as follows on their Feilding sale: Owing to the-.very-bois-terous weather no sheep were hblo to come forward, but we had a good yarding of- cattle, which, however, met with a dull sale. Wo quote: Empty cows, £2 Gs. Gd.; dairy cows, £5 75.; empty heifers, £2 ss. Messrs. A. It. Atkinson and Co., Ltd., quote as follows: Pigs.—Wcaners, 9s. to 10s. Gd.; slips, 135.; small stores, 15s. fid. to 175.; good stores, 20s. Gd. to 245. Poultry.—Roosters, 2s. to 2s. Gd.; hens, Is. lid. to 2s. 5d.; ducks, 2s. Gd., all at each. Produce.—Potatoes, pig. 2s. to 2s. Gd.; eating, 7s. Gil. to 12s. Gd.; bacon, factory sides, 74;!.; hams, 7-' d. Palmerstcn Norlh, Sept. 27. Messrs. Dalgety report: At the Feilding sale I hi.-; day there was a small entry all ;\iu:i(l oivhu; to the rous'i and wet' weather and the floods. Empty

ewes brought 12s. Gd.; wether hoggets, 15s. 5(1.; owo hoggets, 17s. lOd.; two-year steers, from .£3 9s. Gd. to £2 155.; and two-and-a-half-ycar steers, £3 19s. HIDE AND SKIN REPORT. Dalgety and\Company; Limited, report having held their fortnightly salo of wool, sheep-skins, hides, and tallow to-day (Friday). There was only a small offering of wool, for which prices wero slightly easier. Prices, for sheepskins were on a par with lost salo rates. Ilides showed an improvement to the extent of from Jd. to Jd. per lb. For an oxtra heavy hide as high as Sid. was realised. The following gives an indication of the prices realised :— Wool—lnferior crutchings, '3jd: to 4id.' Sheepskins.—Half-bred and fine crossbred, !)d. to 9Jd.; crossbred, &\d. to 9d.; ,dead, Gd. to 7id.; broken and -inferior, sid. to GM.; skin pieces, 3d.; stragglers, 4jd.: hoggets, dead, 6d. to 7d.; inferior and seedy, 3Jd. to 4jd.; green skins, hiilf-breds, 7Jd-: crossbred. Is. Id. to Bs.. Id.; merinos, ss. lid. Hides.—Extraordinary ox, up to BJd.; medium, GJd. to Gill.; light, 4}d. to.Gd.; Slippy ox, 2?d.; cut, 4} to S)d. Cows, slippy ox, 2Jd.; cut 4-Jd. to 5d.; slippy, anil inferior, 3id. to'4jd.; yearlings, 3id. to 4d.; calf-skins, best, G\d., to Old.; medium, sd. to 5!d.; horse hides, lis. 3d.; Tallow.—ln tins, 235. to 235. 3d. per cwt. Thai Taringamutu Totara Sawmills Company, Ltd., with a capital of ;C69,000, has been floated during the month. Tho vendors receive .£16,500 in shares of £1 each, fully paid..up, and .£13,709 in cash. The. company acquires cutting rights over 11,300 acres near Taumaranui, besides sawmilling plant and other valuable assets. -The capital was obtained in Wellington, Wairarapa, and,Hawke's Bay. Mr. Hugh Williams, of Mnsterton, is tho chairman, and Mr. A. E. Whyte, Johnson Street,, Wellington, tho secretary to the' company. ... The import returns of the United. States for the fiscal year ended 30th, June show that tho Yankees had to pay more for tho woo! they required, than in the previous year. Tho.stocks in the s warehouses of the Belgian-German Top Syndicate on July 31 amounted t0 47G.093ki105, against 457,333 kilos at tho end of Juno, and consisted' of 1G4,G31 kilos La Plata, 277,617 Australian, and 33,785 Capo wool. IMPORTANT SALE OF HIGH-CLASS LINCOLN RAMS. "Mr. Henry Dudding's annual sale of ■surplus Lincoln rams took place at his homestead—Riby Grove, Lincolnshire, England—early in July last. As usual, flock-owners from all parts of the world -were present in large numbers, and the prices paid for .purchases made are a sufficient indication of the esteem in which this world-renowned flock is held by up-to-date pastoralists. Tho top price of the day—9oo guineas—was paid by Messrs. S; Dean and Sons, Lincolnshire, for the first prize two-tooth. at the recent 6how of tho Royal Agricultural Society of/England, held at Lincoln; the runher-up being -a well-known South American flockma'ster. Tho highest-, nriced long-wool sheep of. the year (so lar) thus remains in England. It may be mentioned that at the above sale rams realising 20tf guineas and thereabouts were so common as to excite no special comment. ■ Results obtained year after year by Mr. Dudding and prices realised for his surplus stock.go to prove that what he docs not know about the management of long-wool sheep is hardly worth learning. Last year his top price for a yearling ram was 1450 guineas, and three times within tho last few years has he realised 3000 guineas and jpver for a shearling ram. Everything ..which tends to enhance | the appearance of his sheep is carefully studied by Mr. Dudding. Tho blow-fly —which in England frequently assumes the 'dimensions/of a plague, iconipared with which "the worst experiences of Australasian pastoralists with reference to this dreaded pest are as mere child's play—was of the scourges which Mr. Dudding set himself- to prevent. Writing of it and other sheep parasites under date May 14, 1906, ho states ivith' reference to . the superior protective powers of Quibell's "Improved" Power Dip, which he has used for years, as follows, viz.: " I cannot speak too highly of its, quality for killing filth,.| preventing the attack of.' maggoty fly, .and improving the fleece of wool." It is thus abundantly plain that Mr. Dudding not only considers Quibell's " Improved" Power Dip the very best protection from parasitic filth in sheep, but tho best specific for improving the quality and lustre of the growing fleece, points of the very first importance in wool-growing. ( . It is, moreover ,moro than a mere coincidence to find the breeders of the most valuable sheep living to-day—both in/England and Australasia—proclaiming their Mith in Quibell's preparations, and backing their opinions by using them regularly on their flocks.