FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 17, 15 October 1907, Page 7

FINANCE AND COMMERCE.

■■"'■;'?", ?"': THE SfiARE'MARKET.- ■- J ;r ■-' .The ..week" Opened ' rather, quietly,' with ! a small'nuiaberof buying orders for investment stocks.;; ;No sales; were •recorded, arid generally■ there is a'dnbiess which is in striking contrast with: the promises at the close; of: last. week. There was some activity in the mining section; Waihis had quittance at £8 Bs., and Talismans sold.at 4Gs.;M.„cum dividend, payable, to-day. This, latter sale was 'really made on Saturday, after the Call bri''Change. Talismans had further'buyers at 4Gs. Gd., : sellers wanting 475. Sellers of waihis were willing to accept';Eß Bs., . arid r fHore-were "sellers of Kuranuisi"at Is. 4d., New Zealand' Crown at 7s, fld., and Masterton Dredging at 2s. . 9d.- In Investment stocks, there -were<no-;transactions... Buyers/repeated their bid of .£5 Bs.-for.National Banks, sellers asking. £5. 95.* .financial.,group there was but one bid, tNational Mortgage shares being wanted : at :63s„;'.with sellers at 65s. 1 'Wellington' Investment' shares were offered at 12s. 3d;,' and ■ Wellington Deposit at 10s. There was dullness in;the.gas section."' Feildirig ' Gas shares were in' request at 175.,, sellers quoting 18s. There were selling goffers l of *< Napier Gas'shares at £25, Jl6, and «£3 7s. Gd. for the respective issues. •■-, Meat shares are very firmly held. Buyers offer 475. for Gears, a price that has been repeated day, after day for the. past fort-night-without tempting' holders.' Third Issue ■ Meat Export shares were Wanted at ,£3- ss.' 6d., arid Wellington Opefa'House at .£5 10s. There were'sellers of-Manawatu Rails'at 425., Wellington!.' * Steam '---Ferry, at;' 18s., Wellington Woollens at '.£3 7s. 6d.,,and'Westport-Stocktoii Coal'at'fe. ' : „!';;,;'./V,'.' ■;'■' '-""•.:- ''■'• .'.'-.'■. BREAD STUFFS. ~. ' ' ; ' Wheat is selling in the, States.of the Common-, wealth'arid'the Dominion* at'ss. a bushel, and in Londori;at ss.' sd. a' bushel, and-this represents a dearer market than has been known since the season-1897-98, when; after the poor crops' of ,1897, ■' the' markets were characterised by-great fluctuations, ■ accompanied by the 'enor-' mqtis; speculations of Mr.Xeiter. - At' that-trine' a-substantial advance in' the, third quarter-of 1897:-was r followed' : by'a'gradual decline until' December, when'the. influence of Mr. Letter's .-■■ speculations made-itself felt; but'the move-, ment'-iri tho market only "reached' its culminataon; '.W.-April- and' May, 1898, when ' the sudden suspension of duties by France and some other Continental countries; and the feeling of nervousness'occasioned'hy the outbreak of war . between, the .United States and Spain,. caused the-greatest'excitement, to bo succeeded in a few weeks'by the,collapse of Mr. Letter's positK™-., With.the rise in wheat, there is naturally anadvanco in the price of flour, but. taking the Australian quotations, cabled; last Wednesday; we. find that with wheat at 4s. Bd. in Syflner, ' .5 e '-? r 3 c ,?^?^ fl^>ns^ll iin,Mclb6urne wheat • .. i .' s; 8 - [1 - an<l "°nr' at .£lo''lss.,' while' ■in Adelaide. whQat:.was, at,4s. Gd. : 'a .bushel, and- '.'.-'. per'ton. In New Zealand wheat'is at ss. a bushel,,and. flour JU2,5s. pcrton. WhV there should bo such'.'disparity in -New Zeal «nd,it is difficult to say;.perhaps it is the high pneo..of horse feed, that is responsible, or the increased;cost of leather .belting, or some other matter that-will not bear investigation. Flour is .dearest ;in: New, Zealand, where tho'average" , . yield per acre is,nearly ;threo times as great as' ~ in 'South Australia, .where- flour is"cheapest." L<or. twenty-eight years':protection the wheat growers of New. Zealand.. show very, poor. re- '-. fH 1 ,? rea harvested last "season was a' litUe.more.than half that cropped in 1898, and tne ; fact,iß clear that'it does.not pay to grow wheat ui,,New,-. Zealand, except .when' the price touches a.very high level, as at.prosent. - .With Murat ;125..5d. a ton, the; projebted legislation, will beepme a/difficult mattcr.-to handle. .Tho Premier suggested l , Jill, or ,£ll 10s. as the limit of price before the duty should be .remitted, but. that; limit, cannot -bo fixed now with the conditions prevailing. To fix it at .£l2 ss. or .£l2 10s.. would make,a farce .'of the whole thing • i?-i"iS measure would never become operative. , Had the duty„on| wheat:and 'flour been abol-ished-when n the tariff was,under consideration, wheat and flour would both have advanced, but ?°"v nearer, the. Australian level.. The present-pi-ices of.,bread stuffs are, exceedingly high,, and cannot, be. maintained In Europe the poorer classes, will be. obliged - to put up with substitutes, and in other places and especially ;in Australasia,' thero will bo' less wnste.with perhaps a slight use ofsubsti- ' tu tes. This, means,that, consumption, will be checked, supplies will accumulate, .and prices' will recede. • . - :,::' ;;: -LONDON MARKETS.- .. : ''\:;::^, : :; ; ' r/^PRODucE.,: '';;;,. ■;.-.'" BY TELECBArH—riIESS ASSOCIATION—COPTBIGnT; : i v '" .'■'"." ". ''."■ London, October 13. . Light Canterbury sheep, 4d., ordinary North Island, 3|d., rest unchanged. . Heavy Canterbury lambs, i 15-lGd., .rest unchanged. ■.. :- -'. 'i..',:;.! ■ r ... : River, Plato..sheep-Heavy,. 3d. River Plate beef, fqrequarters,-2,15-lGd., ..'■• Eabbils.—Firm,! at about "a Gd. advance, for best.. Some .'recent; arrivals are in 'bad condition, ; the underwriters paying claims'.'. New' Zealand hemp'.—Firm, .with prices unchanged. . '.' : , Hides.are 'neglected, and the bulk has been withdrawn,-A.few-Sydney extra heavy sold at-.GJd.... ~,:.;. :'.'''■-<' r ■,■■■■■ ■ Leather and basils are unchanged. ;■■ n Copra is in better demand.., South Sea, £\§ , Wjißat--8000 quarters.-of Victorian.Scptein- . ber-Octobor shipped wheat sold at 435. Gd. , „ Cppper.-On,.spot,.JEGl; three months, £50 2s. 6d.; electrolytic, .203 10s. ,J in ™°V ppt ' £ wl ' 103 --' thr eo months, 10s.. -a he - depression in tin is due to heavy bear . sales, .-. • ;10s. /'..lmports,. 13,678 tons'; Aus- ' trolian, ,2061, 4793 tons. Silver.-25.41d.:;,,; .. ,- ,: Waihi -, Goldminini? Shares.—Buyers olfer ,£8 15..,3d.j sellers ask £8 3s. 9d. .HIGH CO?IMISSIONEn'S CABLE. . The Department of Industries and Commerce has ;rcceived the following'. cable from the High-Commissioner, dated London, October 12 1807 :-.--...:■ . ' The. mutton market is weak; there is however, speculative buying induced by ■' lower pi-ices. River Plate million is in large supply and. isJieinj; strongly pushed for salo at 3d! por.lb..- Unterbriry- mutton is quoted at 33d anu North Island at 3!d. per lb. The. lamb market is firm, and the.weather continues fayottrable for, sales. • Stocks on hand arc light, .and are firmly held in a few hands. -.Canterbury brands are quoted at Sid and-other than Canterbury at 5Jd per lb ''■' _ Tho beef market is weak', tho supply exceeding, the demand, Hindquarters are quoted at 3jd.,. and foiequarters at 2jjd. per lb. Tho butter .market is very firm; there-is a general and active demand in anticipation of small .supplies (coming forward. The price

-WELLINGTON SHAKE LISf.

of .butter is rising, choicest .New Zealand being quoted to-day at 1145.; .Australian 6alt, 114s.;'Australian saltlesS, llGsl'; Danish,. 1195.j and Siberian; 104s. per cwt. " . The '■ cheese market' is very"firm', and-prices are'--advancing. The demand'is active, arid retailers have combined to advance at' once the price to 7Jd. 'per lb. 'Prospeots for next season are encouraging. Canadian, cheese is quoted at Gls. and C3s. per cwt. for coloured and white makes respectively. Tlio hemp market is quiet, only, small business being done. Reports from Manila indicate that heavy shipments of hemp are expected. . Good' fair grade on spot is quoted at £30 105.,' fair grade, ,£2B 10s:; fair current Manila, £32 10s. October-December shipments, good :j fair, .£3O; fair grade, £28; fair -current Manila, =£30 10s. per-ton. , .The cocksfoot seed market is. very firm and active owing to advices of small shipments. J. here are only light stocks of seed on. hand,. and bright clean 171b. parcels are quoted at 735. per cwt. . , ' ■ The current quotation for Bradford tops are as follow:—36s low crossbreds, Is. 33d • 40's low; crossbreds, Is. 4Jd.; «'s'medium crossbreds,ls. 5Jd.; 50's half-breds, le. lOkl.j 50's quarterbreds, 2s. 1-Jd.; .GO's merinos, 2s. did. per lb., .. ~. , , The/following meat reached England ■ from the River, Plate during the month,of SeptemMutton—London, 114,971; Liverpool 118 S9S • H«H, 10.f»»; o Cardi(r, 10,935- Southampton, 11 i [ Plymouth, 1885. Total i 257,800 Carcases. ' _ Lamb—London, 1972; Liverpool 1799- Cur diff, 100. Total: 3771 carcases. ° ' ' " :. DREDGING 1 RETURNS. • ''■' [BT TELEGRAr-H.—PRESS ASSOCIATION,] ';.-, . ■■ .■ • :....' Dunedin; October 14. _The following dredging returns are to hand :— (1), 430z.' Sdwt; Waikaka United:.'(2),= . 470z. IGdwt; Punt, Boz.- . lldwt; Rising.. Sun,, ,430z. lSdwt.; Sandy Point, ■ 40Oz. 9dwt.; .Blackwater River, 210z.; Olrig, . 19oz. 2dwt.; Nqtown. Creek, 40oz. ; '.'■.•■-'' ■■-■ • . '■ ■ I

• ;s3S!k 25 *S ** 5 J?L ".' ' '■ i'' :: £. '&■'£. £ e.B. a. 'i s. <i.. rii * a.a, Now Zealand : - : ■'• B,60O,«X) ■ : 981,675' 3J Si. 10; 10 0 0 ' National:-".:-.;'- ->v 375,000:- 835.318 ' 24' 15 13 "(J 0 SO 0 ■ /.INSURANCE., .,:■,',:■ :■:..:■: ., • ' ' _. National '• , ■' ;- 100.00) 238.W3 4 unltd. 15 1 G 0 17 3 1 10 S11 1 NewZealamV ''- - - 300,000 : ' .33085'' 2 8 , 10 4 2 0 South British /,-■• - 100,000. :HiiM) 1 unltd. 30 •■-. Standard ;--,,.:- ,- '.75,000: ,.82,183 .!' unltd. . 10 .1 1 0 1 2 0 . ■ FINANCIAL. ■ "■„ ■ ■ ,', Eauit&blo Building - ' KJ.OOO 44 5SK) 5; S .10 10 0 0 10 5 0 Metropolitan Building. ; 21.000 -5,220 10 nil ■ 1 12 0 "0 ' ' :Wellington.Invest.' - .-f.O,000,. -3,033. 1.•: . J 6 012 3 - - Wel'gion Trust* Loan 101,250. 39.620 .5. 6. 8 710 0 7 10 0, 5 6 8 National Mortgagor - '20O.O3O' '■ 112.050 2 ' 8 10 330 -3 5 0 340 650 N.Z.'and Eiver Plato - .300,000- 2S0.308 ' T- nil 7 lit 110 0 Loan and Mercantilo - 135,222 157,358 S 84 .5 .... 060. GAS. .'.'.■:'.'- '«. ■•■ " •: !"•; -.-.../■ Auckland - - - 1E0.370 £0.553 5. ml 16 14 0 0 14 5 0Christcliurch v- ■-, - .152,000 ' 65,087 ■ 5: nil 10 ' 10 7 6 Fcilding;'. -;;.:- .- 10,603 .. .101. 1. . nil — ■ 017 0 018 0 017 0 Gisborne, -.' -■" - 17,100 0,230 1' nil 12} 213 0 - Hawera: '•"-'. V '■'-" '8,250 ' '- 601. i i 10 1 1 o ISO NewPlymouth f '.■-.:■- -18,000 ■: 3,159 . 5 nil 10 715 0 , Napier-:-:-;- ,-,-■!;- ,,:..}, : ,10.. nil 15 25 0 0 '•'„.,-".-. ;.'."- . 49,057 \ 22,517 .&, 5 15 .16 0 0 - ,... | _.,..:,_.;:. : ,, . . , j ' 'l 1 ' 0 .-15 37 6 - Palmerstbh North ■'■■■• £7,000 i 11,033 -44 4 10 7 2 6 T 2 6 6 6 4 Wellington. *!•• ■■':<■'■■ - ■ 10 . wn V .: 57 .°S8 ■ 10, nil 10-13.0 0 ... ' '-■' MEAT.':' ■•''■'- ' ' '. "'.■■'-.' ■ Canterbury- ':'''• ■■■' '183,727 ■■ 30.071 7* 24 8 8 0 0... CnriEtchurch' < ■'- ;-4:165,920 - .'.54.337 ...jp nil. 8 1010 0 10 12 6 1010 0 712 4 Gear.. ,.7 ;.-:, -,, v -. . • fia.ooOr ■ 65 ' 1M :-l .; n "' 10 2 7. 0 2 7 0 '' ■Wellington Moat Exp. v.- ) .'"•' : 5 nil. 8 612 6 ,>. .-;,--.. „•-.- •■• : 105,766 f .63,767 4-1 6 626 ..,'„ ,. .„-, . . .) 23 ia 8 3 6 6, .3 7 6' 3 6 6 6 8 3 Wariganui . „ . 45,550 11,401 s "nil. 8 3 5. 6 5 6 0 .-' 'TBANSFORT. W; it Mi Railway «• i 170,093, . 121,453.- i 4 7 2 2 0 N.Z. Shipping -,,- .- .173,840 113,751 b nil. 5 600 : - Union Steam .- V- ,600,000 '472,593 in nil. 10 1810 0 1810" 0 5 8 1 Wgtn. Steam Ferry- - --46,250- ■• :'65 ' r niI - 6 ; 018-0 ,-■■'.". :: -■■■ COAL: ' :. -'• :,-• i : -' /■„■■ ' .-. - Westport !---. -,..- .2SD.C00.. 117,515 oi . ll 15 714 6 Taupiri'-' : -, - ; 62,E0O 6,339 i ' nil. 7i 019 0 110 »■■'■• WOOLLEN/- : - •-:-•■'■!■■■:■< -•..'-■-....- . , ; . ... ;;; ..- : Kaiapoi- -]- •■-,.•■•-•■> : 100,000:i ..S2.851:-. .5 ..nil. 6 5 0 0. -Mosgiel -,- ■;., •- .,-. -.83,457 :. 17,152 31 '14 "' 24 ,3 0 0 3 0 0 WeUington r -' '- £0,000' -24,368 ' J. 16 3'5 0 3 7'6 . 3 6 0 .7 7 8 •MISCELLANEOUS/ ■■■■■'- '• ■ DonaghyBope - - 47,000 — '''in nil 1 . —•' .... 5.7 6 r . , Leyland&O'Brion;. - 35«0.. ; 34,085 a nil 15 2 5 6 2 6 .6 MauriceviiloLimo-" - . 7,000' 205 1 nil' '"8" '"' 1 : 5 0 N.Z.Candle- -'■■'"- 10,000 ; ! —" - in' nil . —. ,- v 10 0 0 •■■.. -.••-- N.Z.Drugs --,/-,-;--' ,200,000" - 34a4 « nil . ,7 ' 2 9 0 211 0 N.Z.PaperMiHs" '- ' 94,755" .1,177 nil 7 1 3 6 14 0 1 3 74 519 0' N.Z..Comerit- .!-.'- .-.:40,000 ■'■■■riJMS-r. ■ 1 -nil- -'8' ! Manning & Co. ..-, :- 96,000; . 37,670 -1 1 10 ' ■ 4 0 0 ' Ward & Co;,- '-.'- 80,000' .''30,655 .- ' 4' : -':i . 10 ..' ... ,526 Wgtn; Opera House •'-■ .'i 18,630. • ;: li705' 4 ■ nil . 8 . .510 0. \ ■ . ■ Wgtn. Fresh-Food .•!-.',,28,261 .;■ ■:.■■ — ;„..■ 5- r nil ' —• -0,2 0 '''"',- ' Whitcombo & -Tombs- . 46,250 ;, 30,153. , .1 -, nil ■ : ' 10 • -'''' ■■• -4100 ' i-:- ,.i' " Sbarland, Limited. - 48,676: 9.8U,' "5 nil., ; 7J.-, .;,..'' :018 0