FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 54, 27 November 1907, Page 10

FINANCE AND COMMERCE.

■.'-■ ■ ■/ TnE SHAKE MARKET. ' On 'Change yesterday, Wellington Trust and Loan shares had quittance at £1 10s., yielding to the investor 6s. Bd. per cent. 'J. here was also a sale of Christchurch Moat shares at .£lO 10s., nt which price they return *jJIZs. 4d. per cent New Zealand Paper lulls shares changed hands at 235. 3d., giving a return of / £6 os. sd. per cent. In other respects the investment markot was quiet. There were sellers of National Bank .shares nt .£5 Bs., and of Bank of New Zealands at 0510, with no declared buyers for either. Insurance shares wero Bte'ady at previous rates. There were buying offers of 2Cs. 9d. for National Insurance shares, and 225; for Standards. New Zealand Insurance shares wore on sale at M Is. Financial shares wero unchanged; Cls. was" bid for National Mortgage, and for Loan and Mercantile ss. Cd., cum dividend, was offered, but sellers were holding for Js. New Zealand and River Plate shares were-again on sale at 295. 9d., but there has been, no demand for these shares for some time past. Gas shares were neglected, with sellers of Christchurch Gas at JSIO 55., and Wellington Gas at .£lB 17s. Gd. Feilding Gas sliares were unchanged, with buyers at 175., and sellers at ISs. Gear Meat shares maintain a firm position, and buyers offer 495. in vain. Union Steam shares are very firm at <El 9 155., cum dividend. Coal shares were in excellent demand. Westports wero wanted at-'£! 15s. Cd., Taupiri at 19s. Gd., and Westport-Stockton Bs., sellers of the latter quoted Ss. 9d. In the miscellaneous section there were sellers of'D.I.C. Preference shares at 235., Leyland-O'Bricn Timber at 4os. 9d., and Kauri Timber at 9s. Gd.

THE MINING MARKET. . Considerable "''activity i Tras displayed by the mining market "yesterday, but the actual trading was confined to Talismans, which closed weaker. On Monday they had quittance at 555., ■while yesterday they were transferred at ,£2 13s. \ ,9(1., and there were sellers at 545. Theposi-' ' tion of the mining market yesterday is shown in tho table appended:— Buyers. Sellers. ' Sales. ; £g. d. £s. d. £s. d. Komata Reefs... ... 0 1 G — — . Kuranui Caledonian 0 10 0 13 — N.Z. Crown '. 0 8 8 0 Bld : ' — New May Queen 0 12 — ■■. — < Talisman 213 3 214 ov2 13 9 Waihi x :... Bi9 G 811 G V - ■ ' P,ig River ...-' ... — 0150.■ . ; ' — Cousolid'tl Goldfields 0 19 9 1 1 G —

BANK OF AUSTRALASIA,

The balance-sheet jof this Anglo-Australasian institution for the hnlf year from October 15, 190 C, -, to April 15, 1907, shows that the riett profit for the period was .£227,463 7s. 4d., and there was brought forward from the previous half year £16,801 12s. 7d., making the total ! amount of unappropriated profit .£244,324 19s. . ' lid. The gross profit for the period amounted to .£388,042 18s. Bd., and the expenses, including rates and taxes, absorbed .£100,579 11s. 4d., or 41.39 per cent., which shows very economical management. Out,.-of the profit .£15,000 was taken for writing off'the cost of bank premises, ■ and .£IOO,OOO. was: ; added to the reserve fund, which now stands at the substantial sum of ■ .£1,410,000, of ...which .£500,000 is invested in.K. per cent. Consols. The liabilities show circulation, .£504,871; deposits, £1C,G22,96G 13s. Id.; ■bills payable ' and other liabilities, .£3,291,936 7s. 3d.; capital reserve- and undivided profit, ,£3,139,324 19s. lid., making the total liabilities, £23,558,8!!9 os. 3d.; tho actual liabilities to the public, however, arc .£20,419,574. The assets show, specie, bullion, and cash balances, '£3,538,434 18s. Id.; loans at call and short notice, £2,240,000; British Government securities, £927,585 Is. Id.; India and Colonial .Government securities and other investments, £700,082 ■ Us. Sd.j bills i receivable, advances on securities, and other assets, £15,840,950 7s/ 8(1.; bank promises, £251.836 2s. Commenting on the moderate e.\ pansion in the advances, at the meeting of shareholders, the Chairman said:—" Tho change from adversity to prosperity which has come .upon tho population of' Australasia has not meant that banks or other financial institutions have increased their advances business, but. on tho contrary, though it goes without saying that the prosperity of the community must ujtimstf-iy result in Die benefit of such institutions, the immediate effect has been to yonder their customers more independent. It 4s largely duo to this fact that our advances do not show n greater expansion, but not altogether so, because it if our policy to seek a moderate and suft, if slow, expansion In our business, rather than to fos'ter an undue advance in values by a too ready offer of banking facilities." CHILLED BEEF. Apparently a new process which will enable fresh meat to be transported long distances has been ' discovered, for " The Syren" of October 16 records the success of an initial shipment from the Argentine. "The Syren" says:—"Tho first consignment of 'chilled' beef, under the process installed in the vessels of the Anglo-Argentine Shipping Company,' was discharged from tho steamer Guardiana in Liverpool ten days since. This meat, killed forty-three days previously, was brought from. Buenos Ayres and landed in first-class condition. Hitherto attempts to carry fresh meat long distances, except at low, temperatures, have resulted, unsatisfactorily, owing to spotting and mildew. The Guardiana's cargo was carried at a mean temperature of 315d0g. Fahr., or 3deg. higher than has before been attempted, and the results were fully equal to expectations. It is claimed that the process adopted on board the Guardiana will revolutionise tho chilled meat trade, and make possible the conveyance of Australian mutton to, Great Britain • without the necessity of freezing. The remainder of the parcel was discharged at Barry, forty-fivo days after shipment, also in perfect condition. Deductively it could with equal safety have been carried from Now Zealand." If this process comes up to the opinions expressed herein, it will do a good deal lor tho beef trnde of Australia, especially for Queensland. No doubt inquiries will bo made into this matter by either the Department of Industries and Commerce or the Department of Agriculture. The success of the process will mean moro meat and cheaper meat for the British consumers. NOTES. Tho total immigration into Canada from April to Augnst, inclusive, was over 174,047, there being a largo increase in tho number of British immigrants. Tho Lynda Soap and Trading Company, Gisborne, commenced operations on Monday last. The Company has eccured tho services of Mr.

WELLINGTON SHAKE LIST.

MINING.

STOCK SALES.

TIMARU WOOL SALE

WHEAT HARVEST.

J. M'Leod, of Dunedin, who has had many years' experience in the soap manufacturing business. . .... The preliminary return of Japanese finance for .the year 190G-7 up to August 31 las.t shows that the anticipations of a surplus of revenue have been realised. Although the actual figures may be, liable to. more or less enange on the publication of the final account, it is quite certain that the Japanese' Government, in framing a future Budget, will have at its disposal a surplus of over .£5,000,000. At Ispahan there is a- native company called the Shirket-i-Islfwnie, which was founded some Eeven or eight years ago for the manufacture of native cotton and woollen cloth. The weaving is done by hand-looms, and, generally speaking, the workmanship is very poor. The company is in great measure financed by tho leading mollahs, who use every 'available-op-portunity to compel tho Persians to purchase their goods rather than go to Europeans, whoso goods they declare to be unclean. ' The arrangements for the Scotch National Exhibition of 190S, to bo held nf. Edinburgh, have made good prqgress. In the'accepted.designs, the Industrial Hall of 100,000 square feet, and the Machinery Hall of 20,000 square feet, are included in one building. The charge for floor space in the Industrial Hall and Machinery Section will bo three shillings a square foot for spaces of over 100 square feet. The committee will charge extra for smaller spaces and special positions. All information can bo obtained on application to the Manager, Mr. W. H. Knight, 45 York Place, Edinburgh.

Mr. A. F. Lundeberg, engineer, at Stockholm, Sweden, has invented a now method for the utilisation of sawdust, whereby it, finely ground and mixed with-colours and a'binding material, and thereafter hydraiilically treated," may be employe/I for a number of purposes, including a building material, ship-fittings, and furniture. Patents have been taken out in all civilised "-countries, but the invention will at present only' be utilised in Sweden, where a large factory is to be built for the manufacturing of different articles from the new product, especially with the view of export. ...

\AucKLANn, November 2G. The latest report available from the manager of the Komatn Eeefs Mine deals with the ionr weeks ending October 5. The width ot ■ the reefs in various stopes worked,, .during the period varied 4ft. to 10ft., and the values ranged from £1 15s. to JC3 per ton. No. 2 reef at No. 5 level was wider than in the previous month. No. 1 reef at .No. 3 level showed im-. proved value in the ore: in the second block, and in the third block was wider and worth more. The value of No. 2 reef at No. 3 level (first block) fell off, and No! 1 reef at the Kmithv level improved a'little in value. Ihc Drive 'North at No. 5 level on No. 2 reef showed a reef "ft. wide, and worth .£3 3s. per ton. In the Drive North on No. l\reof at No. 3 level, the reef was looking very well and carrying rich dabs of ore, the width of lOtt. being maintained with a value per ton of £13 Bs. The ore in the Winze North on No. 1 reef at No. 3 level was much improved in value (£1 15s ' P cr t° n )» aml tft - wi( ' e, No, 2 reef at 'N0.»4 level in the Drive North gave a little poorer value (£1195.) than in the previous month. No. 1 reef in the SDrivo North at No. 4 level had fallen off in value to ,15s. ■Id. per ton, and the same reef in the Drive South to shaft at No. 4 level gave a.value of 10s. 6d. per ton.

(BY TELEGRAPH—SPECIAL CORRESPONDENT.) ' Paiiiatua, November 26. Abraham and Williams and Dalgety and Cb.'s stock sales were held to-day, and, despite the cloudy weather and intermittent showers, the attendance was fairly good, l'almerston buyers operating freely. Shorn ewes, fat, 15s. 4d.; forward shorn wethers, His.; 4-year bullocks, 110s.; 2ito 3-year, 80s. to 90s:; 2-year, 735.; 18-months, COs.; yearlings, 455. Cd:; dairy cows, 1055.; cows, with calf, 535.; empty cows, 435. Cd.; heifers, springing, 80s.; 2-year, 37s. t Cd.; bulls, 40s. .1

Tho New Zealand Loan and - Mercantile Agency Co., Ltd., report as follows on their sale at Apiti yesterday:—We had a very good sale, and both sheep and cattle peris were well filled, and a total clearance was effected at satisfactory prices. We quote:—Shorn twotooHi wethers, 15s. Id.; shorn forward ewes, 13s. 2(1.; woolly hoggets, 18s., 195., 19s. Id.; mother-fed weaners, 375.; yearling steers, £2 Bs.; yearling heifers, 205.-; empty forward cows, £2 15:;.; empty 2-year-old heifers, £2 Is., £2 155.; store cows, £2 25.; cows with calyes, £3 Is., JC3 15s. Mr. Gawler's herd of 16 dairy cows sold well, prices ranging from £3 15s. to £7.

OAMARTJ WOOLLEN FACTORY. [by .telegraph.—press association.] Oamaru, November 20. The annual report of the Oamaru Woollen Factory, "circulated to-day, recommends payment of a second dividend making 7 per cent, on Hie ordinary shares, and 8 per cent, on the preferential shares for the year, absorbing £1329. It also recommends adding £500 to the-reserve and carrying £947 forward. The report remarks that £1134 was spent on new machinery during the year. The mill has been extremely busy, but the profits were riot commensurate with the business, owing to tho high price of wool. The balance-sheet shows Hints tho balance of £1102 brought forward from last year increased to £277G during the year, including £735, the amount of tho interim dividend paid.

(BY TELEGRAPH.—J'RKS ASSOCIATION.) Tnuuu, November 2G. For the wool snle, which opens here to-mor-ro,v, 2155 bales are catalogued, which is about a third of the total offering at the corresponding sale vast year. . It is anticipated that piiceh will be about on a par with those ruling at tho recent sale at Christchurch.

HI TELEGRAPH—PRESS ASSOCIATION—COPYRIGHT

Adelaide, Novomber 26. The "Register" estimates the harvest at 17,112,000 bushels, an average of 9{ bushels. [At tho end of October, the Adelaide newspaper, "Advertisor," in estimating the South Australian harvest at 11,506,000 bushels—2| millions below the present estimate— calculated that that yield would give an exportable balance of 10,500,000 bushels.]

ni»™' ■ " J. « * /• i {i.i. £ 'b. d. £ e. d. * b. a. .CewZe™' ■ . UnUKUj SSlV si si 10 « « » » •» • 310 2 Rational - - - S75.CC0 835,318 £j 15 1« 5 7 b . 6 J 0 INSURANCE. • . . , r „ .,..'.„. '/rational - - - 1CO.00O 510,339 } unltd. 15 J » •' * ' 7 ° 6U J «ew Zealand • - SOO.000 SSS.78B : 2 8 JO S1J ° \ J " ■ Eouth British - - 1CO.000 512.J0O 1 nnltd. 30 V , „ n ,., , Standard - - - '- 75,000 ■ E2.1S8 i unltd. 10 12 0 12b 120 C 16 4 EquUaUcKin's - '..£0.000"' -«50!) ' 5 5i 10 « 2 B 10 5 0 10 2 6 4 18!) Metropolittin BuildinS 21.000 . 6,220 10 nil \ „ „ „ .„ „ , „ 0 •KdlinetonlnTCet. ' - 50,000 ■ ' 3,931) ' i J • 6 0'2 0 0 2 0 5 U O •Wel'gtonTruat&Loan 101.>E0 ram . 5. 6 , 8 TOO 712 0 . 10 0 668 Kational MorWago - SOO.OOH 119,550 2 8 10 = J » , , K.Z.andKiverPlftte " 300,000 ,580,308 1 nil 7 100. 103 136 i U 0 LottnaDilMerciinUlo - 135.22J .157,358 1 ej 6 »>,' 070 056 319 Anokland ... 160,370 E0,«l • 5 nil Mβ "00 l| ! I Chrisichurch - - 162.000 65,087 5 nil 10 ' „ . Feildins - - - 10,605 103 1 nil - ° « ° J " 0 017 0 Gieborno - - - 17,100 ' 9,839 1 nil 121 2 " ° Hiiwera -, ■ . 6,260 745 2 i 10 Kewmmouth - - 16,000 5,159 5. nil' 10 "5 0 ■ T"-.- - : «,957 £2.517 5 5 15 BWJ Palmorsfon North ! E7.C00 11,003 4i } 10 7 16 7 2 6 (U Wellington-- - '. msm \- W9SB 10 nil 10 1817 6 1815, 0 5 6 B is; B: ■: s i ... ii! k:-«s .««( « j J 1 ;;s ■•■• v.'; s;s Vfanfiilnui " ■ <5.850 11,404 5 nil. .8 V.iTS T, - iTO.000 12W53 1 i Vh« 2 5 0 2 2 0 3 8 8 K.Z.Shippi..3 - - «3,8U 113.751 8 ni . 5 5 17 b 6 0 0 Union St«am - • - (CO,f«) «2,59-2 10 nil. 10. 19 lo 0 18,10 0 6 8 1 Vetn. Starn Forry - . 46,850 65 1 nil. 6.' 018 0 W-tpoS 0 *^ ,, '. - KO.CO0 , 11TJU5 A li ; g- V »«» "» g , 716 ° 6 " ' Ittiiniri- - - - t2,5OJ 5,339 1 ml. 7J 019 0 10 0 W00LD2N. Eaiapoi- - - - 100,000 52,651 5 nil. *6 llosgiol- - - - 83,457 ••■ U.2W Si li < 300 ,' oen ' T lC(! VoUiuston - - - WSm < 1 6 .-360 360 T 5 6 Don&shy llopo - - <7,OD0 - 10 ni - 610 0 » Xoylandd:O'Brien ' - 35,000 37,7(11 1 ml 15 2 o 0 !S 2,5 9 6 6 0 ilauricoviUoLima 7.000 ; 201 .. 1 ni B 1 5 0 - , K.Z.Cttndlo- ■■ ■ - 10.COJ - 10 ni _ 10 0 0 K.Z.Drui - '- - HXMOJ- SJ.5M 2 ni 7 S10 0 S11 0 K.2.PaporMilU - W.753 1JV -I'm} 7 130 133 133 605 Jf.Z.Cemont- - - <O,C00' 2,013 1 nil 8 110 6 111 6 ilannins & Co. - . . OG.LOJ S7.6T0 i 1 10 <00 onn Ward A Co. - • ■ . tO.UJO tO,655 .4 1 10 4 17 6 6 2 6.500 800 V'gtn. Opora Honso I ' 18,630 1,7(H 5nll 8-600 750 Wstn. Freau Food : ' - 1 nil -' Wtiitoomba & Tombs- 46,150 M.153 5 ni 10 4 6 0 , i 10 0 klmrlaud, riimitod : ».0W / 9JU 1 ml ij 010 0