FINANCE AND COMMERCE.
THE SHARE MARKET. ( v i-'Financial and. bankishares the >• attention of the' 'Exchange 'yesterday.- j kquit- : able Building shares sold at - at ijluch- : price they, yield the investor 5 per cent, iheie • was also a. sale of Wellington Trust andXoan at £7 8s;, the return' to _ the .buyer bein_-J!5 ' gs.. per-cent.'.-Of: other'financial - shares, there ;■■■ were;buyers.!of,,New Zealand..and " at 30s Loan; and Mercantile,, buyers Is. 9d„ •'vWe^^fSdi/.ahd^^nfton'Bepontj-rsellwß: ' i 10s.' -In V-bank ■■ shares, business, was. .done . ,m ; . 'Natibnais at : ,showing no,, change raj the. ... last reported 'sale. j r ® | jJeir ;•••>Gd. for;.these;shares, and^gf,49 r agfr, ; Zealand. Insurance . shares were .holders show' a disposition. to^.-N^o«US were entirely neglected. Of other shares-there were bujers of Manawatu; foils . at.. 435, 6d.,. Union Steam 32., and Kauri Timber at 9s..*lm and sellers quoted 50s. for Gears, 655. 9(1.,, tor < *hird issue- Wellington Meat Lxport, 7j)s. foi - WeUington'Woollen,'£7 loSj.Bd..' cum dividend, for Westport Coal, 45s v 6d. for Leyland-O Briep i'imber, 21s. Gd.' for Miramar, Ltd., and-ss. .for, • .raranaki Petroleum. ',V
- THE-MINING MARKET.. - ' Thew' was the'; usual dullneMUcharactexistie f the. beginning of the week.. No • lone " "and , the quotations, which arc given be- . •owj were restricted:- b . . ■ '. £s. d. &s. (1. • " • Talisman ... - - 312 3 212 9. Waihi 811 0 815 0- - Ivuranui ■■ Caledonian —: , ." ,! . • Ngatiawa ... ... -; ~ 01lu ; - 'THE WOOE SALES. . '-'The'-first- of ;the'..seriesVof;-^London, .wqpl, sales , '.terminated'on Friday of' last week, though there was. brisk competition, ( .'no improvement in values, ; Good;,merino wools -'in the 'grease 'appear,';to.have secured the , fceotI attention, for they ;were : at ; par, to.. 5 per cent. V higher than ;at; the sales.; All other. . V descriptions were lower, medium., and -coarse, • crossbreds showing the. serious f:all . of: 10 P e r : cent. -Most ,of-the-'wool ,producedin New, Zealand consists, of medium antLroarse crossbred/ so that,tho s declension ip l of importance., Affair idea of .what it means,, to the. farmers •J in -the Wellington, Province may -be. judgedbv the-v-prices realised 'by .' the,•; ~,Kaiwarra.. , ' and "Gear", wools. These, we take it, are the sliped"wools -of - the two -local -, freezing■ ' companies, and,. as it happens, these brands -were marketed -at the* sales just closed, and t in the corresponding smiles.of last year.;. The.prices realised at fhe two sales we're as under ••— . . ■ Per . 1907. . IMS. Fall, ..cent. Gear - '.. .-. 14' d. -. . 1 ■ , , '-,24 II Kaiwarra .... 13Jd:' 1 3ld.> >2Gi Thus wo may .safely ■assume' that' North Island i wool, is, on the average, 2a per cent., lower thau it was a yearago, and making allowance ! ' for the proportion of fine wools produced, the ; fall--would, be about. 22i per. cent, on the entire clip; this, on the basis of the osti- ; mated value of the last clip,-means a losr of approximately jei,700,000. Some' portion of- this loss will no doubt be recovered, m .the in- ; - output, ,but it cannot amount-to very,- '" ■^rt'the--sales, just closed-187,000 .bales were •: catalogued/.'-'-and this;; was'.distributed jas. • mider:— ■.- • I , ; . Bales. Home>; consumption... 81,000 • Continental-consumption;- .;70,000...../- '.> Ameriean : con'snmptiori:...'6,ooo...:,,',. Carried over- - 30,000 , 4
187,000 .} . Tho carry-over' is' exceptionally 'heayy,/ for''it . represents . more "than 16, per cent. of ; the -total, and is'ten' times as' much.'.as'tho,'carry,-over 'of.the corresponding sale last year.;From,this . it may lie assumed-that'the holdersf.vjew.the outlook with optimism, for, it-,is -.qbyious.-; that 'they expect the March sales to give them a better return. The Americans have taken only 6000 bales, while :at the January, sales of - last, year their; purchases ran, into, 13,000 bales. The sccond series of' London-sa-les .will; begin on March 17: . ■ ' - DECLINING TRADE. The forecasts'of "trade experts.in' the'Uiiited Kingdom that a -recession in trade, : and commerce had begun amply ■ verified in the Board of Trade returns;for January... Oom'.pared: with tho corresponding'month of'the previous, year, the .position-is as<under:—, ... 1907 i :: - •.- 1008. : i-Imports—lncreasoV:.;''i7,OC6,ooo.\De(;.', 488 ' Exports-rln'crease!d,,29G',ooP : ,,- GG2,8<.0 Thus, while : 1907 rexhibited;ift.;Jtbt!il:.increase : * of £1t,302.000,'" 'this- year' there ' is- a decrease of .£4,829,a55: -The heavy fall-in the -imports "' must Abe . largely due to; lower prices par- •: ticularlv of metals and raw products. So' far ■ sis New Zealand is concerned,- wool, meat, tallow, hides, and hemp: .ajq. all lower than they , were a, year ago. ' , _
: . - THE- SILIC i TRADE. ■ ■ Advices from Lyons describe as deplorable the situation of-" tne silk trade,- as the result of,the.American financial crisis. .The...absence of buyers frotri the United States.has cansctl a fall of from 25 to • 30; per, cent, in prices, and the stocks have .'continued to accumulate since the month-, of ; September. • The banks have restricted their credits, and the . con§c-, . qnence has been tho failure of., four oi'-five firms which worked with a small capital.^ COTTON SPINNING PROFITS. The cotton spinning industry of the United ' Kingdom had a record profit-earning, period in 1907.' The statistics of one hundred companics show that 'a share; capital 0f' : .£3,722,780 ~bad earned; (after, allowing -for wc^nd'-*«J of plabt) .no less sum/,.thjn i^1,321,157. . net profit, ; or n&rly..3s* per centV-. This gives- an average profit per. company,, .£13,211, against iC555 .for 1900,. or an increase of,-over. 1. per /cent. 'T The dividends and bonuses declared show an improvement, -the' average • tong-'lst,-against 9 " 2-3 . per cent, .naid in 1906.- ; -Tho "total capital employed in bringing such satisfactory results includes i! 2,377,466 borrowed capital, turcs, ;or open shor^date, loans.,- The.-situation. throughout the whole year was fairly healthy for spinners, and led to several new mills bein" erected, - ..
WELLINGTON PRODUCE, MARKETS. Laery and Co, Ltd, Wellington, report ■wtole'sdie >ijuling ..on - IW market: Wheat, fowls' Ss. sd. to ss. 7d.; oats, 2s. 10d. to 35., seed oats 3s. 2d. to 3s. id.; mane ~4s. lOd. to 55.; crushed , malt, Bs.; Prussian blue -peas-.Gsrto 6s. 6d.,'fowl peas Is. M. to 4s. 9d., 'all at\per> bushel;- floor, £12, M 10s,;; pollard/' £7- to "£7 10s/; bran,'.'is 10s. 'to'J6s 155.; pearl 'split peas, iGlß;«bonedust, JW;>, superphosphates, /4155.' to ss.;.,chalf .(oaten sheaf), .£5 to '■£5 10s ; 1 oatmeal, to .£ls; .ne.yr potatoes, 'whites' fef to- >10s„ reds: 6s; - to 7s: 'Wr-'-cwt-j ibacony.'factory, aides' SJd„ hams ; ?d., rolh .«d.;. butter.^ulk., pastry ,7d. to 8d. ; ; poultry, hens 2«? M. to' 3s: ? ; ducks,, ss. 6d. turkeys,, gobblers ■15s. : ' to "225.", heiis'Bs. .to'9s.,. all;.at,.j?«r pair; cauliflowers,; 35., to'. 65.;, cabbages,'.,4s. .to 75., all\at per sack; green peas,. 9d. to Is. per peok''; t fresK ,r ßggs!"ls. Bd. to Is.' 9d..per dozen; cheese, factory Cd. to * 6Jd. per lb.; onions, .£8 10s. to i£9 10s. per ton; . Akaroa cocksfoot, -.7Jd.~t0.8d.;. 'ryegrass, 4s. to 6s. bushelricemoal, c£'s os. per ton. , .
► -• MINING. (BI TEIiEGKAril —SPECIAL COREESPOHDEhT.) ' -•!, Auckland, Fobruary 10. .-'Late- quotations'-on the Exchange aj-e:— Kufaniii CdledtSman, lid., 9Jd.; May Queen, 25., Is. 9d.; Victoria, Is. 4d., Is. 2d. ; Waiotahi, 3s. 4d.. 35.: Crown, ,75., 6s. Bd.; Tairua' Broken Hills 4s 2d., 45.;.-Talisman Consolidated, 535., 525. Gd.Waihi, 170s. fid., 17Gs.;, Wailn Lxtended, 4s.- Udi, 4s. Bd.; Waihi Grand Junction,. 265., 245.; Gd. 'STOCK EXCHANGE.. (BY TELEGRAM —PRESS ASSOCIATION.") 1. Duseots, February 10. k .Stock'r Exchange quotations,: Drodging stockAlexandra ' Eureka, buyers' 55., sellers bs., .Chicago, buyers"ss:r sellers Bs.; 155.: Enterprise, buyers 3s. 9d., l'irst unance, buyers''3s.'9d.";"Golden- Bed, buyers 9d.; Golden Treasure-I'(ex.div.),,buyers 355., sellers 415.; Lady Roxburgh (C.T.B/s), buyers 45._6d., sellers -75;,;, Manuheriicia,' sellers, 175.; Molyneux Kohinoor,- buyers'.ls. 3d., sellers Is. 9d.; New Koxb'urgh' Jubilee, sellers; 95.; ;New/ Trafalgar, sellers 195.; No Town Creek, buyers Bs.; Olrig, buyers 15;,9d., sellers ss v ; Otago,..sellers' 80s.; Padtolus, buyers 255. Gd., sellers 295. ;. Rise and Shine,' buyers' 245.; sellers 255.; Rising Sun, sellers "265; Sailors Bend, buyers j 13s. 6d. ivfining stocks—Talisman Consolidated, buyers 12!?' 3d.','" "sellers 1 13s. 6d.; BoxbMahAmalgamatedi •• sellers 75., 9d.; • Golden Belt, buyers'2s. 6d., sellers 2s. iOd. ; Waihi, buyers d£B-145.,'-sellers 165.; Mount-Lyell,, buyerß 305., sellers 31s. Investment stocks-National Bank, buyers .£5 65.; Union Banks/Filers i£6l 10si > National Insurance, buyers 9d.; : Standard Insurance, .sellers 4s. 3d.; iUnion Steam; Ship-Company,- buyers- 125.; Westport-StoclAoh; sellers 2s. 9d._(paid); Com- : mercial Property, buyers 35.;. D.1.0._ (ord.) .sellers 65.;- U.1.C., (pref.), .seller?. 3s. 3d., Jlilburn Lime (20s. paid), sellers £1...75.; .Mos- , giel Woollen, buyers JE3; New Zealand lort- ! land Cement, sellers <£1 13s. /:
' ■' , rHIGH ,COMMISSIONER'S CABLE.' '-■'Tho Department''of Industries and. Commerce has received tho following .cable fiom the High Commissioner, dated London, February 8, 190S:-r , -/, ■'■ j■ ■ - Tho •< mutton''market.is weak,'and .there is no chango, ill prices to report. .. -_ 1 ' Tlio liimb market is quiet,' Canterbury .being! quoted at 6d. per lb.. The beef'market is steady..: Hindquarters aro : quoted'-at- 3Jd.j' forequarters at 2Jd. per'lb. Tho butter market is very firm and excited. There is a strong demand at full prices, and supplies do': not' : meet requirements. Tho mar'ket' is ! active".for'-future delivery,-and there i<; little i,chanceVof:Vany advance. __Tho follow- ' in'g are. the "current; quotations Ne- Zealand r butter, >il36sj;.-Danish; 1385.; Australian, 1325.; and'-'Arge'ritihe,.', 1325. per cwfc ' I The cheeso market is firmer, but prospects are uncertain.White makes ,aro quoted at 615., coloured at G2s. per cwfc -, Tho '.hemp"-market is steady,,land there is a better :idemaiid.;.i'',Reports from''Manila'- indic'ato steady shipments for some tima.s Tlio current quotations arenas follow.—Good fair grade on spot, £23; fair grade on spot,', £27 10s.; fair current Manila; on spot, .£2B'. 10s: v ' per ton. January-March shipments, good fair grade ,£2B fair grade .£27 ss:, fair Current Manila •628 10s. , - The cocksfoot market ,is a . shade weaker. 'Bright 171b. por bushel, is quoted at'7ss. per 'ewt." ' ■ , The wool 'sales have _ closed,,, superior, and medium .merino bging in active -demand at full -prices,';but"' inferior grades; lire not. in demand. The marliet is firm . for,fine, crossbr,eds : all grades, but for" medium and coarse crossbreds all grades/the market is,;dull. • The fol--1 lowing tare'.:,the; estimated -valu'os'iV .. : .Superior, merinoi.jls. to. Is. 1 3d. . - .t> . Medium'mermo.'jiOd.' to Is'.;, . Inferior merino',"6-id. to, 9d. \ ]?ipe. cr.ossbreds,'. all grades,- Is. to Is. 2d. . ''( Medium",-crossbreds, all grades, ?W. to Hid. ' Coarse'crossbrdds, | all grades, 6id. to 9d.
LONDON WOOL SALES; , - Messrs. ■ Levin and Co., Ltd., have received the following cable from their London agents, the National Mortgage and • Agency Company of New Zealand, Ltd., dated, London, February 8/ 1908: — ' ;" v . ■ ... . ' ■, .1 ' \'"Tne'«wbol sales have closed;.. Merinos- generally have closed firm on a. par with' tho open-ings-rates', and with keen bidding. Medium and crossbreds closed?at a dc'clino of 74 per cent, on the opening rates. Buyers, are operating very sparingly for this class o£ wool." ' BRITISH TRADE RETURNS. ,• EXPORTS AND IMPORTS DECREASE. bt association - —coptmohi London, February 9. Board of- Trade returns, for January showthat imports decreased by v .£4',lCfi,-tBB and excompared with the corresponding January of last year.. , NATIONAL MORTGAGE COMPANY. PAST YEAR'S PROMTS, .£4-2,746. BT'TEtßQnirn— PRIS3 ASSOCIATION—COriRIOHT. \ J London, February 9. The National Mortgage and Agenc? Co. of
New Zealand shows a profit of .£42,74 G. Thero lias been placed to reserve ,£15,000, and carried forward £TiiS. LONDON PRODUCE MARKETS. DT TELEGRAPH—PUKES AB3OCUTION —COrTIIIOITI. London', February 0. Hemp.—Quiet. January-March, £21 12s. 6d. Mutton. —North Island, 3Jd.; best brands, 3Jd.; rest unchanged. Beef.—Fores, 2jd.; hinds, 3Jd; River Plate fores, 2Jd.; hinds, 2Jd. Rabbits.—Firm and prices hardening. Many new season's are ottering at 12s. to 12s. 6d. c.i.f. THE METAL MARKETS. Coppor.—On spot, .£GI 2s.- Gd.; three months, i!GI 10s.; electrolytic, J.'62 10s. Tin.—On spot, Xl3O ss. ■ Load, £U 12s.'Gd. Silver, 2GJd. . /.. WAIHI SHARES. Quotations: Buyers £8 12s. 6d., sellers 1 .£8 15s.
WELLINGTON SHAME LIST. .■Beasrre c2 rs.vii' 1 . ' PRICES. YMa Capital: Fundand Pj —- —— ... to ' COMPANT., f ., jV rpaiaup... Balance-yo- jg**: r Buyor; • ■ Boiler. '• gnio. Investor. ;• Forvratu f* p. .7 ••• • l « . . . ' ■.« « fl f B. a. • »• <5- £ »• ". ■r- BASKS.. . 5.-'V "912 6 .015 0 S13 6 3 0 B • Hew Zealand - 2.0CO.OO3 561,67a ■■ .31 ; 3l 10 pg(j. 660 660 813 4 Rational- -'..'■■■- .375,000;.' , 335,318 . . S4. ,,15.; . M • - . INSURAXC& ■'■ ' . ' •, "l 7" 6 1 B 0 1 I I i«l National - . - ' 300.000 , 510339 . . i , unltd., , lo . ; t.,. 4 j 0 New Zealand ? • - 300,000. SD6.674 2 8 , .10 'jig' o 610 0 i 0. 0, ' C00 r. Eouth British 7. : - ,100.000 512,90 1 nnltd, ■ » » £.„• j 0 ; : ' Btandard - - - . ,75.000 62.183 2 unltd. 10 •. . V - ■ ■ • ' • FDiAKCIAL.' ' ; • ' ; ■ _ 10,0.0 5 0 0 EquitabloBuildinS y 60,000 : ' - l 5 .-30 , Metro; olUftnBuildinS ,--21.000;.,. R.2B- A ; r 10 -ml ... >.1 C13 3 .;012 3 5 0 0 .WellingtonInvest. - 50,000 - 2,033'- : • 4 - « j * g 7 6 6 7 8 0. fi 8 0 ■ WergtonTrust&Loan- ; . 101,250-<•'■. ■ . '5 ' /5: *8' - 3 5 0 3 7 6 '• 5"5. .0 6'3 1 Kational Mortgage . - £00,000 112,250 \ .2 8 10 j 10 0 19 6 415 0 J NiZ. and River Plata - 300,000 253,000 • •; '1: ■ml-- • ' 7' „ 0 ' 5 3 . ■'0 5 < ° • W 0 0 ' Loan and Morcantilo ; 135.221 ' 315,123 h-.&f.t . " ■ , " GAS. ' • ' '•'««' v ' Auckland. • '• - 180.3T0 .'93.35J:: £ nil 16 , 30 2 g / Christohnroh . —' • IB,000;;, , ,66,067 •; 5- n?} .|M V 017 6' '■'■ ■ Feilding. *.. -. . 10.KB 103 , }' n|.. . .- . 213 0 ' ■Gisborno 1 , - . : v:17JOO..i . ". 5,239 'in ■- f ' , •Hawera -. - - . 8,250 ' ' : § V ■ '19. ; :717 6 > 7KewPlymonth; . ,18,000 \ ; • ■;3 j&0 / iS. nil...'10 ; v ......,.. ■, . . Kunipi* - - . • \ i 1 ' "■ - . . 20' .nil ... ,13 i ,.i . ■ ■ , ■ .' \ . . ; ■ 40,957 j 1 - 23,183;5 .'S v 15- . , 3 7 c TalmerstonNorth | . . 11,0M .. 4i.. .. : 10,. - •' ' , Vcllinston.- -. ... ost.srol- ' «.■«):' 'M:: '■ f .jg 0 7 6 ; • ' ■. : ' Canterbury - 183,727 ?n s 3013 0 1015 0 .'1012 6 T10 7 7 Cbristchureb " ;163,3M • <7,641 ' 10 ,,-ni. • g j fl . , a jq q ■2 10 0 5 O'O Gc ° r : y;-v. - ( ;-- 6, ■■'■ ?' nzj rrj -p glJ 6 ■ ■(, ,Vl : 'clliE6lon iloaS Exp ■•-''] ' •' - "i 1 .',' ''"''s o'o " c'i) o . 6 3 0 6 5 ~t , . ... , ' ' 105.7661 13,767 * g 2 } \ .J. ,3 5 0 3 5 0 , 3 5 3 6 8 9 Vanp'inni " . «.6M UvlOt - 5 U ' . /- 170,000 . , 121.453 v : ' J' 6 3 ? I 2 0 / 3 3 6 / , E 3 9 • r^jvrf -WJ., 113 0 ; . .;Vstn.Bt^in Ferry.'' ■ • ,>46,253 1 , : -' n^; 7 , 5 , . : v . : \ ''"fV l ;1-VIf y ' Kaiapo?-^^^"';. . •: 1(50.000 ' f2.65t ' 5 . ■ 6' ; ; 1 I. »» » v 8 6 ■. ■:Bm^toiiop™ 0 - 113 '> v, - /J '.fii, si" : " "~y. 61 lnn 2 - 5 - 6 \ ? I •-«"« o ;'35,000f- 1 - "} : " i o0 '. UuuicoviUoLim) - 7,000.: ; . OH . 1 ni|.' ._8. .1 2 0. ■ ... JiK: V;, : || -W Y 'Sil ' 6 0 5 Sl s cl c °' : : ' S: I !•:■ * : D 1 ■ • i■■■:k, 415 V V ' Wgtn. Opera House . * 1B.6AJ • ...5' S;i . J. £ r i k". »i-V , • .'AVgtn'Fresli Food ' - 28,261 - " '* r" nil in' • • - ;J' .nil-', 75 010 6 018 3 8 4 4 • fcbarland, Limited *, . »,67o t. . * ** ..V..• - • • ' :— •;
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Dominion, Volume 1, Issue 118, 11 February 1908, Page 10
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2,297FINANCE AND COMMERCE. Dominion, Volume 1, Issue 118, 11 February 1908, Page 10
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