FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 95, 15 January 1908, Page 10

FINANCE AND COMMERCE.

'* ' WELLINGTON .SHAKE LIST. <

' . <■-. k.- < iruC. -.... . T ~ The Atpierican buyer, if' he'is'.not.'.altogether ' ronti'lof 'thii'Thlirketl'.'iiiust very"greatly '• cnrtnil •his purchases, M. I'. Maistre, acting, consul ' for'ltaly''in'Anstyalhsia, has received adriles with roforenee to the regulation of the importation of wool from Australia., into-Itjily. According 'to a decision of tho, Italian Home Minister",; 'jtunfr'aliai wool may' .be introduced into Italy, oven if accompanied .by incomplete sanitary certificates. 11l such $ascs,' however, , ..special..p.ermi^sio^.^.ust-be, obtaiied. from 'the ■ Ministry- I "by;' the- -importing-". firm i for each separate., case;, and, the permission is to. be given on the condition that tho wool thus iniipprted.,.,.b;..,.immediately taken to' a.[scouring establishment. ' , ' WELLINGTON. TRUST AND- 1 , LOAN CO. , - /' i,Tli6.'-dir(;cteri:,Jii„their annual report for the 'year "elidoct EiwimbeT 31, 1907,,.5tate•, that the net profits for the year were. j!12!513. : ss. ' lid., " Vhiclf;" added to J22120' 1.18'...' 1 3.d';';, brought for- :: ward'. from. the previous - year,.; amount to ' os.' 2d.,' 'from "which has already been takon and paid as interim .'dividend. Tho sum of "takon'Trom tho has been added "to' the 'reserve fund, ivnd .is.'.available for replacing the Company's offices,'which wero linrned' i:l Oct6ber,''lßOG. .. i| ThV,directors recommend a further dividend of-.1 per cent., which vrill absorb iSloso—making together 8 per cent, for the year—and that 1 the balance, . .£233r os. ,2d., ,be carried forward. A contract for reb'jqlding the; Company's, offices was let by public tender in. June last to Messrs/.Tas. Trevor, and Sons,' Ltd. The work is now approaching completion.' The larger portion of this building will be available for leasing ;( is .'offices, money spent. on their replacement may be regarded as a sound inre.it> mor.t.The following directors, vir... the Hon. Sir , ' l Jiiincs ; .'l' > rendcrgast,' ICt., and Mr. Charles Tringham;. retire "this year in .rotation from the Board-, and,; 'being eligible, offer themselves for- re-eleotion. Tho auditors, Messrs, " D: T.' Stuart " and; C.. P. Powles, offer them'selves' for re-election. .. r .. f .. ' : N -STOCK- EXCHANGE. ■ - (BY 1 TEIjEOnAPiI-— 'PHESS ASSOCIATION.) Ddkbdis, January M. - Stock Exchaugc' sale: Wcatport Coal,-15Gs. MAREET PKICES. Lacry and Co., Ltd.,' Wtsllington, report wholesale prices ruling on the market Milling wheat ss. 10d., io\vl3 ss. ,6d. to ss. 9d.; oats, 3s. Gd. to -3s. 9d.; maize, '4s. 9d. to ss.;' crushed malt, Bs.; pr'ussian blue peas os. Od.j'-iowl peas -is.': 6d. to 4s. !)d., all at per biis'liol; floiir, Nc.w" Zealand Australian £13; pollard, iI6 15s. to bran, .£5 10s. to 155..-.pearl barlty.' <Ci3j split peas, JSIS; bonomeal, .EG 155.; bonednst, j;G; superphosphates, 15s. to" £b 55.; chaff (oaten sheaf), jes'- 10st t'Dl'V-Ce; oatmeal, ,jSI6; new potatoes, whites "s. to 95., reds Gs. to 7s. per cwt.; bacon, factory sides ' BJd., hams' BJd. to Od., rolls ' 3d.; butter, bulk pastry,. 7d; to Bd.; poultny, hens 2s. Gd. to 35., dur.ks ss. 6d.j turkeys, gobblers 15s. to 225., hens Bs. .to 95,, all"at- ppr pair; cauliflowers, 2s. to. 55.; cab■bagesjV,2s. t/),.ij., = aU>t per sack; green peas, ;9d. to Is. per peck; fresh egz's, Is. 2d. to Is. 3d. pol' dozen; rlieeao, factory, 6d. to 6UI. por lb.; ,'onions, AO per ton. LIVE STOCK MARKETS. 1 Messrs. Balgoty and Co., Ltd.; report having hold''their', opeiiing sale .in Hunterville yesterday, when they bad a fair yarding of sheep and .a good entry of cattle.: Oiviiyf to the ~dry. weather ,the bidding was slack all round. They quote': 2-tooth wethers, 13s. Gd.; '1-tooth wethers, 145.'1 d.; 18-months to 2-year steors, small, .£2 lis.; yearling'steers, J!2 10s.; 2i to 3-ycar steers, J23 135.; yearling heifers, 305.; yearling bulls, 305.; 3-year steers, J!4 10s, 'A fair.- clearance was effected; ~' „ TEt.EGniPH—SI'EOIAX CORRESPONDENT.) r; 'I'aiii.vtua, January 14. Messrs. -'Abraham l ' and Williams, and tho •Loan ■ r.nd. • -Mercantile Company held their usual stock sales to-day. Both- yarding and attendance'-'was v medium. Shorn rape lambs made,7s. Od. to Bs. Gd.; woolly lambs, 7s. 3d.; lairibs'-and 'eives, gOdd, 12s); 2-tooth wethers, 12s. 3d.; IS-morith' to 2-year steers, 535. Gd.; 2-year heifors, -lis. ;■ forward cows,"47s.; bulls, 425, WW- v AVOOL SALES. - ' SPIRITED ''iillifilNG AT NAPIER. (by' 'TEMiCEAPJI —rni!S3 ASSOCIATION.) , NxriEn, 'January 14. The »econd wool sale of the season was much .more .successful nthgn the first.. Bidding was spirited,'and the prices of the> December sale wero fully maintained, a shade: higher being 'realised'for*special'lots. The condition of the wool offered was much heavier than that of last year, owing to thp dry weather. The demand for lambs'' wool was keen, and in some cases bidding, which opened at 5d., went I to od, Locks and pieces sold well. .'i.'Tlie'followingsaj'erago prices were realised:—. Su))or. halfbred', OJd. to lljd. per lb.; •' lino crossbred. Sid. to 9Jd.; coarse crossbred, bright,and well-conditioned, '3d. to 3d.; inforior'.'GJd. to 73d.; lambs', good,-bright conditioned, '3d. to 9d.; inferior to medium, GJd. to; 73d,; locks, to 7Jd.; inferior mediums, l|d. to.Gd... ' ,V (DT XEI^SO.RjIPII.—rBBSS ASSOCIATION.^ i Auckland, January 14. •'There was no animation at nil nt the wool sales to-day. Buyers wero • nonchalant, and wool was fiot even looked at. Competition was' dead, arid it frequently happened that onlv n jingle bid was olTcred. Crossbreds sold as low nt -lid. Merinos'wore well within tile range of Sd. mid flld., ■ and one of the top prices of the sale was OJd. for eight very 'fin« bales sf long wool, purchased by the Onc-,hunga"."iVobllen-Mills. The reason of tho big decrease' in this" season's prices as. compared to last inay'be found in the fnet that this year America is not buying. At tho 1907 sales an American buyer -'was-'present, and there was keen competition for all bright showy wools, which ran up to Is. per lb. To"-d,iy .ivool ;of :a';.similar nature, which Inst year was worth'-Is'.;• sold at 1 7jd. A record number of bales ivns catalogued, tho total 'ofTeriiiß • being•«6os& »bnles, an ihcrenso of 2203 over the iimouat offered at the January sales last ;ycar. The drop in prices experienced by Messrs. Alfred Auckland and Sons, who sold first, ranged from Id. to 2d. rer lb, on.

; • ' THE SHAKE MAEKKT. Investment sliarcs /.were quiet yesWdayr tiio' only sale reported.being:'a.' linc.-.of jMaijawAtu, Pails, which chnnged hands at 435. Cu.,- or 3d. below the price obtained in a previous gale. There was a call yesterday for National Bank \ shares, when', buyors offered .85...55.,. sellers* holding f»r 'JBS 7s. Bank of New Zealand shares,were on sale at £0 las., but" these shares. are very much aoglccted, tho price being much above buyers': idcas'.oi;'; value. The demand for insurance shares was revived, 'and South British were wanted at <E5 ;.10s. 3d., ' and Standards ~at. .£1 ?d. Euianraal shares were without" change.' ■ Ihere" were buyers of . Wellington Trust and>Loan, at- i; 7 10s., and New; Zealand and River Plate .at 295.~ Cd„, and there woro, sellers of Wellington Investment at Vis. < «*sd.,' Wellington Deposit ''at'los., and Loan and Mercantilo^ej».™s9<& Gas shares scarcely call for-any remark, for they -appear to be very much neglected,„ There wero .sellors of, Feilding Gas at; 175., and of Napier Gns at Xlo 105.,-:tnil .£,'J . 7s.' 6d. for the respective issues. The'- demand for meat shares . continues. •. Meat, shares were .wanted at .filo::'l2s..:'o<"l*, ,«id 'show a firming tendency. Wellington Meat Export, third issue, I 'were in demand' at : 855.,. and Gears were offered for sale, at uls. Thero were'buyers of Manawatu Rails at 435.,-.Union.'. • Steam 'at'- 315.; and Westport-Stockton-at-9.v Gd.' There were sellers of D.I.C. preference at 235.' 3d., Kauri Timber at 9s. 3d.; O'Brien Timber at 15s. 6d„ Westp£i;t-Sto4kt<jn». Coal at 10s., Union Steam at '325., and "Ward and Co,, Ltd., at ;S5. __ . THE MINING MARKET." -'1 ' * : The mining;,, market,, was. comparatively quiet, and very little ' business, .was.;done!. Talismans sold at '.£2 125.,.. the samo price 'as on' the previous day, aiid . this was . the.'only transaction recorded. Tho mining "quotation#;.. '.yesterday were as under:— . . /, . . Buyers. , Sellers. ' Sale's'. . ' .£'s. d. - .£ s. d. : - .£ s. d;- • Talisman 2 12 0 2-12 G 1 :.'2'12-.0 • Waihi ... : '••■8 7 0 ' ■" — N.Z. Crown '0-7 3'- 0 7 7 . - May Queen, • Ltd. 0 1 10 0 2 0 — Ngatiawa 0 1 11 0 3-1 — New Alpine ... — .0 5 0 ' — Kuranui ... — 0. 1 0,.',- —• Big River 0 12 8 '**-' ■ THE WOOL MARKET. The Wellington wool soles • will be hold -on 'Friday, when about 7000 bales will bo catalogued. At the corresponding! sale last .»yeaiv , 10,021 bales iwero offered, 'and "7797 -sold. ■' The* bulk of the' catalogno on "Friday will consist of .coarse crossbred wool, and a good deal of it will bo of inferior quality. There will also be some fashionable merine wool, including a,-lot of first combing from theMfavlborOtigU . district, and this lot ought to sell well. The prospects of. the ■;marl:et,'.are riot so brilliant as some press writers would have the public believe. It is true thero was an advance in values at the Christckurch ;«les a fow days , ago, but thdse .who viewed l)iis ;advance, with .-, extreme optmism forgot..to- ;note tho: classi.of. ■ wool that received .the...favourable: attention.: of buyers. Merino »nd - fin« halfbred %;ools. ■ are comparatively plentiful in'the Sooth,, and,.; ns this.class of wool is now in favour with manufacturers,'there was naturally a better demand, with. an advance in ..prices:. .But : crossbred wool is riot affected;" and the North i Island .produces crossbred wool mainly. There: was practically no ch*ng« in'values at the Napier sale yesterday, and even in Napier a better class of wool is : marketed; thin ' is' to ■be obtained in ' Wellington'. Except , for" fine wools, . tho local sales will be disappointing. . and it would occasion no surprise if inferior crossbreds went balow tho December level of values. The quotations for Bradford Tops cablod to the Dominion by* the 'High 'Com'missi*bn®r are instructive. Comparinj tho quotations Bent just prior to tho November, or sixth, of. the series of London, sales with ~{cal)lcd r on January 11, wo havo tlio. following-:—•' - Nov. 16 , Jan. 11 ■■••••- '1907. > • '• 1908:' • Tops.: 1 (I. d. -SB's Low Crossbreds' 14J" ,' 13'" 40's Low- Crossbreds ... 15J I,'P ( 41 s Medium Crossbreds ](t|'• c U\ "• 50 s Ilnlfbrcds 22' 19, i 56's Quartorbreds ...'- "'at' .' ' 22JOO's Merinos'' 27$ "■"-0(3 There is, a gcuoraL decline which is not very promising for the raw product. It is not likely that, manufacturers ,will .pay ..relatively more lor raw'wool 'than they'\iro able" to secure on the partly manufactured product. Ihere was a decided fall in values at theNovember sales, and it is just possible there may bo a further fall next*week. The following is an'.extract' from Messrs Ualgcty and Company's Bradford' wool report:- There never was , a time . in > the-his- ■■■■ tory of, trade when the position of weol'Vas go hotly, debated as at present, and when tho question of price versus consumption-was so , keenly contested. On the ono hand, we have , tnose who tell us that wool is bound to share ' in tic general fall,, which except wheat..and..coal are at present encoun- ' tcring, while on the other hand', there is a school of prophets who say that the world's < needs in regard to textiles are such that every ounce of' wool grown will be wanted before , another, clip comes round. It is: certain that , users -face the .coming Australian,' Cape: :-and' ; .River Plate new clips with' 'eleah-sWept'boards, and. is ,I TTntc this, there'.is £reat urjycucv beiiiß shown to purchase snitAble stock. It • can bo t.ikcn for granted that users wouldhbt bo operating in Australia aa cablo reports say, and paying the. lonj priccs ;£hoy are, if tltcv' wore not in nrgent need for. the raw material,'• 1 and it'seems to'me that. we- Kre not'.as yct ' going to encounter much of a set-back unless I we are plunged into some great commercial 1 calamitr, or s;e a great railway strike. There * is no doubt, that the trade aid commerce of tho ITO-Id is strum .tojether with.,.a , vcrj .1 Bensitiro cord, and whatever of importance hap- I pens it ,spoh affects ~tlie ' e.hfi.r'e'. luriip; .', The J financial panic in New York has siien rise to < feelings of pessimism on this side of the At- ■ lantic, and made woolmen prick (heir cars ; as they look upon the situation. The ques- i tion asked is, how is this going to affect the I American buyer of wool, and is it going to i put th<> brake upon colonial purchases during ' the next four months?',' The situation has ; changed considerably since the above was i written. Amcrica is suffering Irani a severe i financial crisis which is alTeeling every branch i of trade, and industry,, and has also, exercised I an adverse influence on cotton, which in a I measure comes into competition with wool, i

tho rates whicih ruled nt tho November sale. The greater portion of, the wool on offer-was passed in. The only line l'or which therewas bettor, competition was in hollies and pieces, which realised nearly as much a 6 crossbred wool, 'l'ho best price realised by this firm was 9Jd. for five bnles of fine half bred; on account of Mr. Foster, ,of Waimauku. Merino wool did not meet: with keen com-, petition, and 8)d. was tho best price offered, nt which figure the'lot war, passed in.. Lambs' wool met with very fair competition, and' sold, at from GJd. to 71d. Crossbred, was not in' strong demand at Gul. to B}d., and large quan-' titles were passed in; having failed to roach tho owners' reserve. Mr. Smith, of Matahoru, received SJd. for his Shropshire clip, being the best price realised for thin class of wool. Lincolns met v.-ith poor inquiry at Gid.; stained and cotty wool sold-from sd. to Cd. ;• and bellies and pieces reached 5Jd. The New Zealand Loan • and Mercantile Agency , followed with 2321 bales. The bulk, consisted of crossbrcds, the highest price realised bein» fljd. for a lot sold 011 account of' W. G. Bilton, of Kaipara, and the . next wail9Jd. for a line of 13 hales sold for W. C. Moun-' tain, of Russell. Messrs. G. W. liinney and Sons secured 33d." for a line of ■! bales of fine southdown .wool. and receive tho highest offer, of tho day, 101 d., for a choice lino ofhalfbred wool. . ■ LONDON MARKETS. Nt • TEr.JGRArH—MESS 'AHSOCrATION-^COPTRICIHT. London, January 13. The wheat and flour afloat for the United Kingdom is 2,715,000 quarters; for the Continent, 975,000 quarters; Atlantic shipments, 507,000 quarters; Pacific ' shipments, 125,000 quarters. , Silver, 2s. 2 1-lGd. ' '

COMPANY • ' CnT ' i,a1 ' v-i •■'■ '■ ■>^::::^ BTCE3 - -■" ™a . .COMPANY. , rddUpr . s % >.,-,>.0,' Mta. ■ BANKS. ■ J £ .A£/'f-i} '* ' £ ': £ .'*<?•.*•* ,*.'■*■ Sew Zealand -• - 5.KO.OM.. ,551,67;... ,'S4„ si., 10. ,. „ V . . »«'® ■ • .; • National - ■- - 575,00?. • ;335,313," - 15-. ; 'JS •;-5 5 , 0 • 5 7 0 .; INSURANCE. ■- -V.'V- , ■ . 'National - - • 30),000 . MM3SI I Hnltd. IS,- ? I L! 2 ill i XewZealand• •' ■ ICO.OOO''. ••836.785 i • 8, • 8. ;■> ill):.: .,.-4 0,0 ; ,,,M. 1 ' " 1 5 0 0 Bouth British ICO,000 312,101 1 nnlu - 30 5 5 2' ? 7 . , . „ Standard _ - . . 75,000 .-83,168.; . , 2 . .unJUl..; . 10 , J J...? - 1 4 " . 1 10 ® K < Enuifablo BnildinS EO.OOO <4 550- *'6' » ■'6' ' ' 30'W.'J.G '.'•10 SB 10 2 « ..418 5 metropolitan Building ,,-51.003 .n5,!fi!) r .;...lO.-V ni(,;,- 7.. ,. , , ...» „ ■ „ . -.Wellington Invest.- ,50,000. ;-.WB3 ' J - 4 • , "5" . ' , n '. ..SIS *2 • »<S,2 • *-5-2 ' Wel'ctonThistitLoan 101,260' ' ".'39JSQ"' ,6- '5' '8 T10;a "*M# •' • '»:•• '5 6-8 - - National Mortgago: ••-■■! 200.00(1 ..112,'250 8 . 10' «• ,, . f|'! 5,5,1 N.Z. and Rivet Plato, - ,!(jO,OC0 . :i.J3M0a'; ';3 -nil " T '' 1;?;;-'J » - 1 3 ' 6 : • 4» 0. ' IxjanandMeicantile-' ;135,223 '-157,353' ' « ,;s. ••".0 i 8; . GAS. «. j. ' ' .-'t..,.. ( .V'- 1. •>: ' •" C A ' :• Auckland. .' . 1E0.3IQ.. ..J&Ra _ ,'S- nil If !) • ' Christchurcb - . 1M.000 ■ 65,067' "S all ~ "Iff 5 „ '- I Feildins v- • • 10,803 . 103. 1 nil, 316 9 •}! i 0 0 ' ' Gisborno. ■ --. . 17,100 ..iffiS39'* "1';: nil " ' 12i"?■ 313 0 Hawera . - - . 8,250 -'745 I. .i !. } 10 . , New Plymouth - . IS,CM '3,153- 5 • nil 10 .*.« 6- '» 0 Napier - - - . • . ] ' 10 nil ,13 ° v . ..•••' - . 49.057 . - 22517 5 5 .'14.. J oS? . j 1" 9 35 3 7 6 • v. • y. : ralinorBtonNorth • £7,000• 11,0M 44 4, 10 • J J J -to n n ini? n '? ? 2 Wellington.-.. - 24 ,5, 0 l : • », I;"" ... , jg . ; ®. Jl'l g ' g. - io.ia' c. "1| °. 1010-o '' T13 4 Gear • .. . • Wfm l B0.C61 . 1 nil. 1 -:k 2 8 0 • '210 ,0 4-, iv* 6 .324, ->'Vi K n ; ' " Wellington Meat Exp 5 - - nil. 1 - - y 8 ' v - '•l-"' ' J . B . 305,760[. £3,767 • i 1 8 5 0 0 ' | -5 0 6 5 6 -J. .-.r ••£&; i<-ty ...3 5 6. 3,;.5-. : J .6 8 9 .' . 1 " . ll,10f ~ "5. """nil. *" ' '8 6* • ' TBANSrORT • W.&M.Railway." 170,000 . 1'21,452 1 4 -7 230 '1 4 0 8 3 «' \8 3 9 N.Z. Shipping - - 473,610 113.7.il 8 nil. 5 -BOO 6 5 0 6 5 0 680 Vnionsteam - • COOJXM 472,592 1. nil. 1 111 0 113 0 . it , ' W'gtn. Steam Ferry . • 46,*25J 65 X nil. . C 0W 0 C18 0 *, Westport'' 'SEOSOt'. ' 'B751S' - •'}d\ 14 ".•W '• :-710 0- ' 7.17-' 0 7'15" 0 ' 614' 7 . laupiri- - K.tflJ ''63S.-'' y l - nil. 74- '0-10 ; tt 3 I • . . WOOLLEN. . • Eaiaroi- - - - 1CO.OOO .S2.-S51: 5' ail. 6 ■ ; '■ ,.t JloEgiei-. . - ' - 63,457 17,213 Si 14 4 3 0 0 " ' Wellington - - • E0.003 54,36! 4 -1 . G , E10 0' ' 3:6 0 7 B t MISCELLANEOUS. 1 , ., ' \ Donaghj'Ropo - - 47,030. — • 10 nil 51S 0 6.0 0.-. Lcylasd <fc O'ilrioii . . £5,003 • 37,751 1 nil i.i \ 'J i 19 P. 5 6 , 2,-6 6'.. 6 6 0 ' Maurieovilleliimj"": ~"*7MBT" * t0J~ s : 1-5 0 ".' ' . N.Z. Caudle - • . 10,003 - 10 ml - 10 0 0 '• N.Z.Drugs rCO.009- . £4.514. 2 ,.ml 7 510 0 3 11.6 N.Z. Taper MiJb . D4.753.'., 4.177,.- 1 'ml. 7 1 3 0 r l 3,3 •'>1-3-'3. '605 N.Z.Cement- - ' T' MO,000- '■ s2.013H.; 1 nil. 8 110'6- xlll 6 ''1 • • llann&g & Co. • " ".'Oil,000 " "'37,670'' " 4 1 10 : '-'rS 17 6 Ward&.Co. - . * : tO,OOU £0,655 4 ' 1 10 417 6 5 0 0 :5 t 0. 8 0, 0 . " Wgtn.OperaHous«' "' 18,630 1.705 5 nil •. a 15 0 7.5 0 '7 .0. .0- 514 0 Wgtn Fresh Food ' £S,-61 Y -■ ' irj , ,„ 1 ... n !'... — , ~; Vhitcombo<iTombs- • '46,'25U-- — 5.V' nil;/.;. ; .30' .' \ 1ft 0 ' kliarland, Limited ; am W , 1 nU « '.019 0 1 '0 • t; 0,0 719 0