FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 18, 16 October 1907, Page 9

FINANCE AND COMMERCE.

,^;. f r''; ) -,Tra,. ; S.H | AEE- i MAEKET.;- ' "..';" There were , but /two. sales reported yesterday, Woollens having changed ia'n.dß.,at '655,,. at which price'they" yield' the buyer \£7.';7s,. Bd.. per cent; and Feilding Gas shares s6ltl' ; ' iit,' 175..' Although the business •' recorded waa ; better than 'on Monday, the tone of 1 the'market''remains quiet-. , ' The buying offers were' within small: compass. I ' ■'- National' Banks were wanted-.at-; .£s!Bs., sellers.asking ,£s'9s.', and-JiSankiof'-NevrZcalands were offered at ,£lO, £ie.se,i]gures showing no, variation on the quotations},of.-, the ,pa-it week or, so. , Thorp, was a bid ,oii63 35.. for u National Mortgage, shares, but. .Beliefs'stand firm at X3'ss.. ( L6an and Merca'n-. tile.were on offer at 75., arid' Wellington Deposit at 10s. GisbornpGas- shares came in for attention, with buyers 'offering £2 13s. Second Issue Gear* Meats were again in request at 475. 6d.-, an advance..,.of, 6d.' per. share since tho previous day. ; Buyers have,, persistently', .offered 475. for. ;these, shares without, meeting, with /any re--apprise, and' it remains'to be : seeh whether the advance 'in . the' ! bidding .will ;. bring results. Mariawfttu - Eaijs' were again 'offered at : 425. Mosgiek Woollens were wanted at £1 18s. 6d., sellers asking. ,£3. There -were sellers ofWest-port-Stockton -* Coal'shares at Bs., D.I.C. Prefer-ence.;.at-;235.,' ,New Zealand Portland Cement at 83s.;:and,Taranaki, Petroleum at ;14s. Welling-' ton..Opera-House shares were again in request ios.-■;•.' ' : ■-. '.'■' v." ■■ ■;.."■■ ~ . 1

'In.;;the mining, '-section- there was dullness. Talismans we're'-wanted' r at 455. : 6d., ex'div. Wiih'is '.were -offered; at" 'M'-ts.i ■ and show 'a yeakening- tendoncy. Tho ''London quotation .is;sellers,:£B 3s.>9d.,'as against .£8 Is. 6d; in tho previous .week; in tho.iriiddle of September they, ■were, quoted at .£8 ,155., and the question arises what has caused them'to slump? ~No..doubtthe. tightness in'tho.money market.may have caused thjmto decline in London, but even, that is. notexplanation,' 'unless wV&ssume that London "was'unable-'tomakd sales to New Zea-tlie-'past- twelve or eighteeri , months' parcels of-• Waihi sharea; have'come out on transfer'to' New ZealAnd ; ib'y' practically: every' mail; , .and-the.capacity ofrthe markets here to ; absorb these ehares seemed unlimited,,and while! it : wa's possible for London to sell to landi there'was no reason for. values, to, recede. It is rumoured,' howover,' that' some Auckland speculators arc' overloaded >ith Waihi shares purchased in London, arid: are forcing sales locally by cutting prices: This, if. true, would chutiout London' sellers from the local market Others are inclined.to.think.that the "creep" is .something more than the published reports would, indicate, and that the cautious British iioUlers of the scrip, are unloading, on that account. .Perhaps.the true cause is the general J? n £r pf pit-edged .securities of every, group and.. TV anus ji are gilt-edged: in.'.'the 'mininc eection,':-'..•<:■'■■- v. ■•■ ■■•;,■ .■;■-• ■ :■■ ■■ b

;:„ : 'J l * B Railway Statements of the'several States ot the Commonwealth are issued for the year ending June 30, while the Railway Statement of New.Zealand is.for the year ending March' •»./. comparing the figures given 'in the state&Sa||^^: Ive eet the . followh * '■•".'■.'.'.', : '..-'-_'ok)m.,"..' Net'- Capital ;.,'. .'- ."• : ..'*- e y enuD ' Expenses, earnings, cost. ' |=^f,K 2 S β^g! W., Australia,,,.! 1,537,333 i'1,135,907=''=401426 "10 300 938 N?.w Zealand;,.. 2,6,24,600,1,812,482,- m.M ZiW,m ■ T J»e showing,,oil the whole, is excellent,• but j although,; ,thcro are. balances' on workin" account, a uqh balances are not sufficient in all «}?«« to. cosßr.interest on capital expenditure, iiiiis, taking the net gainings and the amounts due by way of '■ interest, we get the following;— '■•'". ••- ■■■ '■•■ ■ ■• ■• -.-■•■ ,'. ,-. Interest '. : ■■->.;■/■'■:!■■> ■-.•_■ Not i' ■■/■> on i' -Surplus* ■;.■.,■ ■ J-, '.Earnings. Capital. : -Deflcitt N.S.. Wales ~; ■~.2,209,665 i,s9wio' : ' Queensland,.' .... ~...; ' 9 03308-. 900827/: ■ SKf P^;:,;:;,:^:S:;|S ... 1,762 417- 1,483 284 279133* W. Australia ■:,:. ..... 401,426- 358734 H%> Zealand... .... ,812,110 : .Wjfao. . m'fl% ■,Tho\interest, spvfar.ns Now-Zeuland is concerned, ; iB, worked outjat four por'cent, on the capital-cost of open .lines, and - will be seen ■f«om the above, that the New Zealand raih-av" 6how.the. heaviest'deficit. Most of-, the Stato ';! THE BUTTER' STJPPLIEES OP THE :,,; , _ UNITED KINGDOM.. ' •'.

•■'lWthe year elided Juno; 1907,-Great ! Britain took 219,277 tons of butter' alone from' ov* a TftDR V >ear ■n shows • that Enssia sent an increase of tons Denmark GOl2 tons, and Sweden'2o72 creLk % Or T' 6 T oUrccs of s«PPJies do'?i th ose from, the United. States by 5078 %*F tOab ;- Hollnnd -"80 tfni, rff tons ; Argentine; by 255 tons Pn,Tf y ? 7 c " tons, and Germany by 5 tons Fo^ .the fonr-preceding years,the receipts from Denmark ;had stead ly declined, and this falling off was generally attributed to the severe iZ ° f » B W and Australasian bnttosnthe best of which, according to Wcdddl's Ecview,' are nearly equal in intrinsic quality though selling much below Danish. It would appear, there ore, that tho high prices of butter which prevailed. lSst summer and .autumn were, such as enabled Denmark moro.successfulyto oppose her competitors in British markets than sho had;done in the me , ceding four years. The increase in imnorts from Russia, which are mainly from Siberia has been very .extraordinary since the war . amounting in the last two years to over 1* 000 tons. This rapid growth: pnitits to Siberian butter becoming, in the near future the Broat-est-foreign* rival to Danish. The great drawback, is its .long land, carnage, and tho consequent difficulty, of keeping the temperature of the buttcr.sufficiently. low, by means of refrigoration, to prevent dstorioration in transit The improvement in quality which has taken'placo ■ in a considerable portion of Russian supplies shows that, when organisation' and education in butter-making are moro extended the e--port will make more rapid strides. France aiid Holland have, , during the last five years, sent steadily declining supplies to British markets the fonuer owing to the serious attack of foot-and-mouth disease (which broke out a few years ago among the dairy herds, but is now practically over), and to the drought there last summer; the latter owing to the steady insroaec in its exports to Germany, where it finds' a more profitablo market than in Great Britain.

WELLINGTON SHAME LIST.

■ TALISMAN MINE., .'; , ■■■•-•" LATEST DBVELOPMUNTS. (fBOM OOE OWN OOBEESPONDENT.) - ' ' Auckland, October is. f) The rr f< ? l - lowing lfe . has been forwarded to the Talisman Consolidated London office giving development progress' for f;ho past three "No 11 level south, 75 feet;'.width of reef; 18 inches; assay value; ss. 3d.- No. 12: Eiso L^rVft ,0, • cros sout; progress, 12 No 19 W T , th . an , r ise; nssav value, £5 16s. %. 12: Winze 3 feet; reef wider than "winze; assay value, 10a. No. 12 Level: South 23 N?^ ,^!^ 7 H t; as , *& vakf in fe K t; re , rf wider than rise; assay jaiue, fl2 10s.; branch vein, south drive 8 feet; width of reef, .Si feet; assay value,' A 195,; junctioned with ..main-drive.-' No 13 Level: South No, 5 nse, 70 feet; width of reef, , 4 -2*tJ. assay value, .£4 135.; holed through." Jhe three-weekly report for "the period ending, August 24, and now first available,- was as follows : No. 10 level sloping: The assays fo? the period from the No. 1 Bonanza Block stopes average os.'2d. From No° 2 stopes, the.average is ISsVsd. <i Jevel, south drive (east branch vein), advanced 4? feet; total, 612 feet;,width of ree formation 12 inches; average of assays, 11s. 3d. At S» feet a crosscut has been started westward; measurement, U feet. .'So far this crossQnnf) i ■ /f lnters^ ted ß anything of value, bouth drive (from-No. 7 crosscut), advanced ol feet_; total, 111 feet. The roof is wider than the drive; values average £4 2s. North drive (from t No. 7 crosscut) advanced 6 feet; total, a feet; width of reef, 45 inches; average of assays, .ls. : 7d. Stoning: The assays from the No. 2 Bonanza' Block stopes average £i;4s 8d No. 12'levBl; 1 26 feet; total, 428; feet;'width' of .reef, 7 feetaverage of assays, £6 6s.' 4d. South drive (east' branch.vein); advanced 38 feet; total, 281 feet; width of reef, 4 feet; average' of assays, £1 45..1 d. The assays from No'.' 1 'Bonanza Block stopes average £2 Os. 9d. Tho assays from No. '2i, Bonanza. Block, stopes average £1 13s. Gd. No,. .13. level:, No. .5 rise, advanced 41 feet; total, 100. feet. From 59 feet, to 70 feet, tho. width of reef averages 24 inches: values from the same, £5 is. 10d. From 70 feet to 100 feet there is 9 inches of reef formation giving assays that average Is. 9d., At 93 feet a crosscut'is now being driven into'the west wall; measurement, 8 feet. So far this crosscut has not reached, any-quartz.' Stoning;: The stopes north and south of No; 1 north rise have given values,that average .£1 14s. ■. ~

'"CUSTOMS RETURNS. '.. ;. The Customs returns at Wellington yesterday amounted to ,£3762 13s. : . \- ■■•• ;>■•■..■■.•: STOCK SALES. ' ■■ (FROM OUE OWN CORRESPONDENT.) ~' . ■ .... ■. ~'; . ".,.. October 15. ■ At'the stock sales to-day the yarding was small, owing, probably, ,to the bad weather. ,Tlie attendance was poor. Ewes and lambs made to 245.. 4(1.;, springing heifers, £i to £1 155.; young store cows, 255. to 405.; shorthorn bull, .£3 10s./ ■ . Messrs. Dalgety arid Co. report'as follows on their Marton sale yesterday :—Owing to the extremely rough weather there was only , a fair entry of sheep. Fat ewes made 17s. 9d.; forward' ewes, 15s. Bd,; medium ewes, 13e. 2d.; mixed hoggets, 15s. 9d., 14s. 5d.: wether hocgets,. lGs. 2d/ : ....'; '• At a clearing sale of'dairy stock, at Waihakeke, on account .of Mr. C. Stevens, the following prices were obtained:—Cows' in milk, JS3 10s. to M 10s. j springing cows, ,£3 17s. fid. to ,E5 10s.; springing heifers, .£1 to £5 7s. 6d.;' late-heifers, .£2 12s. 6d. to £2 17s. Gd.; aged draught horse, ,£ls. Sundry items' were cleared at satisfactory prices.

- ! '■'" BANK3. ■'■ ' -- :'■:■- 'jB = ' £■ '■ ■■£■'■ £ 6' *"«. cl..' £ s. d. £ e. d. £ B. fl. New Zealand - .'■'..- 2,000,000 • 281,675 ■ 3i Si ■ 10 ■ 10 0 0 National. . ... - ., - 375,000 SS.S18 tj 15 12 (;• 8 0 5 0 0. .'. INSURANCE, ' -' .■-■.•■ ...... National : :-•-•- 1CO.000 ' 238,243 j unlM. IS 10 0 17 3 I 7 0 . 511 1 Now Zealand •>-.■.. 300,000 .- 336,736 S 8 ao 4.20 South British .-.-. lfjO.OCO 5l3,iOO ..? iinlfcl. 30 ;. Standard - -' . 76,000 . 83,188 'a UDltd. 10 110 12 0 • --FINANCIAL. :•■■■..■'■■■■■.:■*■ . - •■ • EquitabluBuildlnB ■- 50,000 4-1500 e 5 10, 10 .0 0 > 10 .6 0 MetropoUtanBuilding OI.OCO . .5,43 ,n nil .. . 7 12 0 0 Vollinfiton Invest. - ' '50,000/, 3,033 J ¥ ' 4 6 0 12 .1 . ■WeVgton Trust & loan '101,250' : 80.(120 \ 6 8 \ 710 0 710 0 5 0 8 National Mortgnfio - £00,000 112.250 , S 8 10 330 350 3 i 0 650 N,Z;andItivorI'lato •' 300,000 2c0,308 , j. nil 7- 1 if 110 0 Loan and Mercahlilo -' 135,222 157,358 1 84 5 -...070 ■ ' •'■ •■•' 'GAB;- ■"'> '■■' '■■" ■■:■■■■.■■'• Auckland -f .. - 180,370 60,552 . . nil 16 14 0 0 14 S 0 Christehurch, . - .. . 152.C0O ■ .55,087 ? nil 10 . . 10 7 6 FeHding . :: .' ' 10E05 " 103 ? nil - 017 0 0 18-0 017 0 Gisborno - - ■ - 17100 ■'■ - ; 9,210 , ■ oil 12j 213 0 213 0 . . . Ha'wera ; ;- .-•-. ■ 8250 : Bi . a- i ■ 1° .110.130 , NewPlj-mouth. - - 0. 18,000 ,,-,3,159 • ,i , nil' 10 715 0 Napier - •'■-. . - ' ' -■■ ■ V ',„ ml ■ lo • 25 0 0 - ,, - ;■'. .■•-•■: ' 49,057 [ .22,517 3 ? 5 15 . , . 16 0 0 ... y< "■: .'.■•;; ., :-. -": ■ -J -■•.'-.■? 9 15 ., ...376 ralmerston North ■•., 27,000 11,00-2 .{ I 10 7 2 6 7 S 6 6 6 4 ,,.,'...' - H , 670 - ,. 57.088 g . ml 10 10 0 ,'O.-- !'-MEAT, :■■■:■■■■■■ '■•-.'■■ S' ■ -■■■■•■' ••■,•■ • ' • Canterbury -.- ,- .-- 183,727 <■ £0,074 , ,, 25 '8 800 ChristchurchV : - - :i65,920 . 54,337 i' nil. 8 1010 0 -10 12 6 1010 0 712 4 Gear - - -' '- " TOrvv ,f ' 65.103 J « nil. 10 2 7 6 2 7 0 WeUlnston Meat Exp." ■■.■-<.■'■')'. ■:'■:.■>■:■ * nil. - r G12 6 ■-... -• . „ •.,.•' 105.7GS I- . 53,767 ° 1 8 . 6 .2. 6 -.•-.- . . . . „ ,; ■■ ' 'J A 29 8 3 5.6 3 7 6'366,683 Vanganui -...,.- .. .45,850 11,4M % nil. 8 : 3 5'6 : S'5'0 THANSPORT. -' "' • :.'■■: 'i> >:'. 5 ' ■ V?. & II. KaU,uay - 170,000 121,453 . 4' 7 2 2 0 N.Z. Shipping ■ - - 473,8-10 113,751 ; nil.. .5 6 0 0 ■ ■ -■■ i tnion.Steam •■-.•-; - eOO.OOO.-- 472,59-2 • :,° nU. .10 .1810-0 - .,- 1810 0 5 8 1 ■Wgtnl Steam Ferry - '46,250 ' 65 ' 10 nil. 6 / 018 0 ■ ,,,T- ...COAIj..,.., ,:., ,;.-■ „,.,, - ... ,..-'-, '■ '■ .'■■•■'.' . Westport■■■.,,'■.■ - '260,000 117,215 "„, lh . 15 714 6 Taupiri - , . .... .. 5,339 3 J nil. . 74 '.- ■ 019 0 110 ~ -'.WOOLIiEN. ■■-■■ •■■ ! ■ ■ Kaiaroi-.,.:- -. -.100,000. ,-32,854 . _ , nil. 6 500 ■Mosgieli '.. - ' - ' B3,457 ! '17,152 5 14 24 : 2 -38 t> 3 0 0 ' Wellihelon .■■-■'. infUO ' '-24,368 « I 6 3 5 0 376 360 Y78 ■ UISOEIiLANEOUS. ■•:; ■,<■■ '" .-, '4 , ': • . . • D9nat'hylt6pe , T| . .,'- ..-47,000.. — ,. nil .— ..,. 5 7 6 LeylandiO'Brien -■- /85.00O . 10 nil . 15 . 2'5 6 2 0 6 MauricevilloLime ' - ■' 7,000 ?/ 503 ' J nil 8 ' 15 0 N.Z. Candlei-...-^--:..- ,. 10.00Q r-— . 1 nil — ' . 10 O 1 - N.Z. Droso, ..,:-,..... 200,000.. ,.34,514 10 , Dil 7 2 9 0 211 0 N.Z. l'aper Mills - '- '. 94,755 - 1,177 . a nil , 7 .13 6 14 0 1 3' 74 5 19 0 . ! -■-■■''- ■'•'M.GOO'- 2,048 '■ . 1: -nil' : 8 - ' ■ ' ■ • ' , " Manning 4Co. ;V-:,:. -■■:96,0OO-. . . 37,670 -.-; . 1 1 ■ ■ 10 ' 4 0 0 Kard&.Co.■-. .,-,- .- ■; 60,000 , .£0,655 1 .10 6.2 6 . Wgtri.'Opera Honsa '- • 18.6S0 : '-' 1,705 ' 4 nil 8 5 10 0 Wutn. FreahFood - ; " 28,261- - : — 5 -nil i—' 0 2 0 ' : ■ Whitcdmbe & Tombs-' ,46,250- .30,153., ■ nil . 10 ■ -. 410 0 toarland. Limited .- .48,676' Mil , 5. , nil 74 , 018 0