FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 99, 20 January 1908, Page 10

FINANCE AND COMMERCE.

WELLINGTON SHAKE LIST,

year are set forth iri.detail 1 , i>ro]biiijly'for show purposes"; but the that no dividend is declared, that is ■£9930, and sundry \credisfs v .£2458: Eates and taxes accrued amount to •X 525, and if'this sum had been paid. the amoiiiit at credit of profit and. loss would have been which is a very sinsignificant.- "capital of J)*i0,000.

/ J There was' a fair amount of trading, on J •'.Change on Saturday',:" 'Wellington' Gas shares, ; ,£lO paid up,' wore' reported' to : Have' changed J hands at .£l9 2s. - 6d.; this represents a very j big jump in valuo, and requires some explana- ( tion. A'ot so very long ago the shares , being offered at £18.155, t and we believo that on Friday the shares- could''have :been bought ; at, say, JlB 17s.'. Gd., Which makes itN difficult . to understand this sudden jump _to '*£19. 25.: 6d. - If the rules of the, Stock Exchange permit it, i, we think'it would'-be-a: fair r thing' for: .the v Chairman of the Exchange to call upon the broker who' made the sale to produce the executed transfer or interim receipt from the ] Gas Company. Not that we,question, the bona ] fides of the selling . br?ter/.iJ)jifc:jr|ifterf < .|hp 'j 'satisfy tlu public that the sale was a genuine ■. one, and that.no attempt has been made to : j "bull"' the market. The investing public is j entitled to • this consideration... . Gas shares.] generally have been remarkably dull for some , time, and a sudden advance necessarily leads ] to some curiosity.. ..... .. ] Tliere was a salo iof ■Manawatffvßails .at 435.'- j 6d., of New Zehland"l>rugs"lit "51si, and ,of . Ward and Co. Brewery shares at ,£5 cum divi- . (lend. There is no change to record, With re- . spect to bank shares. . New -Zealands were ( wanted at £0 10s., sellers holding for .£!), 155.; Nationals . wero again, on,..sale,■at,,.65 fe. .(jfL , Insurance shares were steady, and . unchanged.; ' There was a.call, for South ;JBritish 'shares'at' ,: £5 10s., ■while.Nationals worcybnered-for sale , at 275. 9d. Tinanc'lril sliares ' remain firmjwith 1 buyers of Equitable Building shares at ' 3s. cunj dividend,, and Wellington; Trust and loan at J87,\105. : -&}:•'■ cum dividend;; -sellers-of the latter were i! 7 ,12s.' Cd;' -New'Ze'a'-' land and lliver' I'ldt'o shares'w6re in demand at 295. 3d. There wero sellers of Wellington Investment shares at 12s. 3d:, Wellington Deposit and Mortgage 10s., and Loan and Mercantile ss. 9d. Gas shares continue dull, and this has been'a feature of'the market'for some - time. For Palmerstoii North...Gas...shares,;.£7 7s. was bid.,- and; there' were'sellers of- Feild-- • iug Gas shares at 17s. 6d., and of Napier Gas shares at £25 and <£15 10s. for the respective issues. Meat shares were quiet. Gears wero on sale at 505., and third issue Meat Export at &3s. Gd. There were buyers of Manawat'u Rails at -135., Union Steam at 31s„- s Westport-: Stockton Coal at 9s. Sd., andt'Ne\y -Zealand' Drugs at 50s. 9d. Sellers quoted 445. for Mana- ' watu Rails 235. 3d. for D.I.C. preference,. 18s,, Sd. for Sharland's ordinary, and 7s. for Taranaki Petit loam. Wellington Woollen,ordinary wero on sale' at 705.-, and . the preference' at lis. Gd. Why'the preference shares of the Wellington Woollen- Company.-are. at .al jlisr . count is another matter _ that requires some explanation. To the outsider it looks like an . effort to depress tho shares; 'because the Company is still selling them'"over the counter/? It is not likely that anyone will pay the Company 15s. for the shares whilo tlicy are quoted at lis. Od. on the Stock Exchange. The shares ought to be worth par at least. , THE MINING MARKET.' ■ ' ■ This market is'moving towards dullness, for the number of sales has been very small, while fewer, stocks arc quoted. On Saturday there was a sale of Karangahake shares at is. JU.,' mid that was the only transaction recorded. Waih.is and .Talismans' jrtTb' quoted,' but the' quotations seem to be ..nominal.' The following were Saturday's quotations;—,,,. . Buyers! Sellers. ' Sales. £ s". d. £s. d. £s, d. Talisman 212 0 212 G . Waihi 0 8 5 0 . —. Ngatiawa ... ..." 0,2 0 02 2 —.- May' Queen'"... ... 0 110 —' ' — South Kaponga v .. - — .0 0 2J Kai-angahake „S. >. ■ — .-. 0.1 7J THE MONEI" ■ MARKET. The reduction of the Bank rate from ,G to 5 per cent, was practically forced .upon tho directors. The New York banks have coasel to withdraw gold from London, and tho Bank of England has been able to secure-- a good deal in the interval. The growth of the metal reserve has been appreciable during the past three or four weeks,- as the following -will. show:— ....... v .'. • '■ Coin and Bullion'. ' December 25 .£29,751,000 January 1 ... ... 31,003,000 January 8 33,726,000.'" January 15 ... ... 31,710,000 In three weeks nearly '.£5,000,000 ' has .\becii added to the stock of coin and bullion, and it was impossible in the face of that to maintain the 6 per cent. rale. If the improvement continues wo may expect to . see the rate lowered to i per cent, very soon. . ■ ' ( NEW ZEALAND PORTLAND CEMENT COMPANY. The eleventh annual report and balance-sheet of the New Zealand Portland Cement Company for the year ended October 31, 1907, have been circulated. The directors in their report say: —" In the report of July 8 shareholders were fully advised of the difiic.ultuw.. which.-.have -A ; ' in connection;. \)'ijh jilj® erection of . C-. i 'The directors regret* 'teat v/,,.r,; •ju-j v;.- :'i.H.her delayed ■j :>r" ')!.'■ fi - ;v.-ir.l j.."' anil that ;• ~/;s ;ij... r...j t)i.-. .-..-j<!ri -!':ri)-,1,-.nd. for ?; .-i :-■ it;-iv :-j.supplied jr. ;"<VI >.»•,'•> <!.••• i:' !W.r-. l-llctc-ll in liv -It 1 ' 1 ;::-.rt.-.. v"«-e -Id I ... !>' Vt. iIU t ■ I ; ;'n.t.'ii■ The J ■ •.- i" i~: I I' 0 . 11, _j II ..' -i • ' i-'<:•<'!:V'l! --; c,■■ progress. .. u.s.,* t : 11 an cx|icri- , • :. ; ' l i in).!'. Aniorico,, who fi: . H:-:;;e o, :: -iji-'' Island, and 1 i. in.m.i to he done to the workh ;- m : -i '.iie output. Mr. Greer, the gentleu ' irierred to, who has been engaged through f)r. Jordan, of the Iceland-'.: ;anford -University, is expected to arrive in Auckland before tiie end of January. Notwithstanding tho difficulty of continuing the manufacture of cemenl while tho works were .practically in, tho hands of the builders, a fair amount of cement ha( been turned out, yielding a net profit of XIBB. 2s. 7d„ which, with J1.15K 10s. Id. brought for ward from last year, gives the total at credil of profit and loss account. The whole of tin profits have been made during tho last si.' months. The directors have written JIIOOO of tho plant, and recommend that the balance o il2« 12s. 8(1. be carried forward." Tho accounts show that'the gross profit fo: the year amounted to Xll,sGt 14s. 5d., ren brou"ht in .£G3 35., and transfer fees, .£23 13s • fid. " The expenses totalled JJ97G3, of whicl J51159 represents provision for special losses The various amounts written off in the previou

.Reserve a2 r,iahiw' . TRICES. I YieM . pa\ipi vy " Cftp tal ]'"iin£lnnil ., k"? —■ ' t T to ; . Paid Op. Mmct ga s&ifc £g Buyor. Belter. Sa i 8 .'Investor. KwZcatand^.'V"''".'i ; . J.OOWOO-' : : 580575 10 ° ° : National -'■ •• .- ■ 370,000-- D35.313 £6 15 "- M 9 u . . ; INSURANCE. ' ' i 7 q 1 7 9 .1 7 0. . pil 1 National - • 2C0.0W 249.330 5 unitd. 15 4 10 4 1-3' 5 0 0 New Zealand • • 1 • 300,000 • ,236,785 2 8 10 - . 513 6 : ' ' ' sr ih ': : 11,(1 *»:•; ««< . E<,niS«' 50,000 '' ' 4?,*°40 * .'6 ijf » ° » « « 10 * 6 4I8 , MetropolitanJBuilding 21,000 5,229 10 niK>» <>'.7 u-.-• • •..< :« 012 0- ! 5 0 0 WellingtonInvest. - ; EO.OOO 3,933 4 4 6 ' 6 -jy 5 710-0' 'sea Wel'gtonTrust<.fcLoan TOl.iV.) ■U 1 ;r-'> 5 5 8 - - 3 5 0 6 3 1 NationalMortgago ;EOO,000 .112,950. • 2 , - 8- 10 j> 1 9 0 1 9 6 115 0 K.Z. and Biver Plate -■ SU0, COO 25-2,000/ 1 ml;; 7' i , J ,.o 5,0 ;. .. . Lean and Mercantile - 135,'ill 315,133 4 . ■'84 5 Auckland* - ' ■ - ISO,370 F0.553 5 nil 16 WO 0 M 5 0 Christ-church ; •, . \ 152,(XX) 65,087 fi ml 10 n lfl 017/5 017 0 ' Feildiriii • . '-10.S05 -103 1 . ni- -"'213"0 \ Gisbonio • • . 17,1(X) ■ 0,239 1 D l Hawera - • . 8,250 .745 * i 10 717 /5 715 0 NfiwPlymouth • . 18,000 9,150 '5 < fl| ■» 30 ' u,b ' ,U 5 q.. q Napier • • -« \ • u "1° 15 £ " .'kia--a ✓ . . .. : . : «*} 22.517 I I » V?S ; 7 ; 6 - ralmerstonNorth ! £7,000 11,093 <4 ' J $"13150 19 5 0 19 2 6 6 5 0 Wellington - - . - mjm \ «SW » »» a ™ , 9 7, 6,- -.? 1U 0 -970 60S MEAT.' i ni J 8 0 0 ' . CWterbury • vlS3,727 . J0.074 . 7S ■ 2 'io'H'-O' '■ 10 15 : 0 1010 0 tH 4 Chnstehureh' - - ■ •; 165,920>- - M.337 ' 10 - n .- « • 8 f.„ .. aio.-o- 210 0 r, 0 0 Gt4r " ■ i E2,000}. ,Cb.-261 J- ; ..-"g-',,.: '•.» » •» .5110 - Wellington Meat Esp - 0 . : ml." : " R o n " ' & y 2 6 6 9 0 6 5 6 „ ..,,1 ... ,103.7661 ;s {" .;$■- 1 ; 5 -3'5 6 , 3 5 3 « 8 9 . ViB»md .&E50 u'.wi • : 5 . nil;- - »• ; 3 6 / 6 : ' TRANSPORT. ' ' •'rr' ; n' - •' "fl"4 1 0 8 3 '6 -33-9 W.&M.Railway ,170,000..V;, 121,432 ; 1 -. .A,.-, » ' ... l ? n '- . 6 5 0 0 8 0 K.Z. Shipping ■ - • - ' 473,610 113.751 8 m. t - -11} 0 6 5 0 6 0 0 B Union Steam - ; 800,000 «i#B - 1 Ti J" -! . IS 0 ' Wetn.SteamFerry,.i'- r.65.,-; rl„. ,= nil- . 6: .,,.0.18 ,.0 , ,,, . . ,. VtftWCk* 1 ?- • '\ '-"aoiw • 117,015" " S4 . "- li '" 4?-- •I'D 5 !- 7 laupirl - - ■ 62.50J 5.339 -.1 mi. 74.; 019 b. 1 I.J ■WOOLLEN. ... . Ktlapoi-. - - -- 100,003. E2,S5i , , 5,, - nil.,,.. •#, . JlosRiel- - - 83,457 17,213 Si 14 4 3 0 0 , Wellington-,- - tO.OOi £1.363 4 1 ; .6 ■ v-- i. ■ • - 310-0 ■ ,S ■ 6 0 7 5 0 11ISCELLANEOUS. * 6-0 1 0'EonaehyRopo . - - 47,009 . — ,5. - H, - , o" ("o "r V, 1 5' r, 6 6 0 Leyland&O'Rrion . 36,000 S7.761 .1- -ni - r -15 a ; 4.;9. .U2,5 .6 , 1 5 6 llanricevillo Linn . (7,000 503 1 nu ■ 3 15 0 N.Z. Candle. 10,000 - 10 nu - ■ , » ® .' (> 11 •'h t t 1 K.Z.Drugs - ... . £00,000 . . £4,614 2/ . "! " ...J »» » viW ' j.J K.Z.Papor Mills 94,755 ,. V 1,177 1 nil 7 1 3 0 1 3 3 . 1..3 -3 . 6 0 K.Z. Cement- • " 40,000 2,741. .1 .ml . - 1T , K Manning & Co, - 90.CTO 57,670 'if T } - r!;-i . -tn n- -V-o fl, 800 Ward & Co. - - " 10,000 £0,655 '4 ; 1 10 '417 6 - 5 .0 ,0i. 80 u "Wetn. Opera House 18,630 1.705 6 m| 6 15 0 <.5.0. .7.0 O 5 14 *Wgtn Fresh Food - .28,-61 • — 1- n ?J . .. n . ■ Whitcombe & Tombs- , u 45,250 .. ; ,.£0,153, ...f, , n n ' : 7 10 0 , bbarland. Limited ' J .'48,676 ' SI,311 ' 1 . M.;' 0 ; : 7100