THE SHARE MARKET.

Dominion, Volume 1, Issue 121, 14 February 1908, Page 10

THE SHARE MARKET.

; The business reported on 'Chaiige. yesterday;. ivas small, a line of New -Zealand Drug snares changing hands. lis-, z- .quotations, . - however,"•"show-, plenty of buying \6rders, and under favourable conditions these • should - • develop, into , business.-- Bank shares were com- • paratively ..quiet; there, were sellers of JNew iGealands at ;<£9'lss., and'of/Nationals at;£s • ■ 7s.- There were buyers otV the., latter., 65.. Although tfiere was nothing; :r doing--Jiniifisur- • : ancc shares, there ? were 'inore'quotations; than-;: usual. For National Insurance shares, buyers .have advanced their, bid?;- to 275; 10d., and v' there were sellers of Now "Zealand Insurance: shares at Is. cum dividend, andol South I3ritish : at «£5 lGs.' Financial- shares are. iairbr • .strong, and make the best .^showing.on .xhe share-list. . Thereiverc Hjicl's"'of-:iC10-nor' ..'-.Equitable' Building, «£7 -Bs. for Wellington Trust and Loan, and 30s. for ■ JsCW'lZealan'd and lUver Plate "shares. Loan 'and = Mercantile - shares were in-demand, at<4s. 9d., sellers hold- , ing for.ss.' 3d": ; There wero declared^sellers: -W: ; i f .Wellington Investment shares at 12s. 3d., and ; ;of Wellington. Deposit, at. 105.:.... Gas . were quiet, the only inquiry'/being *ior sccoiul issue;/Wellington • Gas shares at. J29; 10s. bum rights. Meat shares were.' quiet, ' -of. Christchurch Heat'at £10..15f-vcumjdm? •dend, 'and third' issue Wellington''Meat xlx- . port.at' Gss. ,9(1. There/were buyers of/Mana- ;,. watu Kails : at 435., Union ..Steam 1-s. 3d. • and - Donaghy Rope and Twine at : <£b. .bor , . Westport ;:Coal ,shares,' buyers ilSs.ji , '/;, but sellers wanted .£7 155.;; • for_ ' New . Zeav land Drugs therevwere t buyers at '>£-*/ lis; od«'» • •-and sellers at'V,£2 ilk \6jL. /^pr.-^wvZeaknd.; Portland Cement;', the- quotations' were:-tbuyers •" -/ 325;, sellers 335:, andtfor. Kauri ,' £)s. 10d., sellers • 10s.y 3d: ; Brien, Timber shares were j on .sale at;.£2 ss. Gd., and .. .Ward and Company. .Brewery at i-l Hs. . Tho feature of . the ' market is tho imnroyii ; ; ■, mnnt shown by " bbth vTalisman r ft and \\aihi : '>6ffares. . The latter fftrav-agam.vupand it is to bo hoped that their will bo.held up. ' The'buying and selling quotation? yesterday were as undei - -. SelteA' -■ ■ " ' Xs. d. .£ s.'d. - Komata Roefs ... .» ■OV. 3 0 Ij> . Talisman / - #2 13 0 8 1 0 , - W.iihi . ... ... -S 13 0 9 2 6 Big Rivers ". ,0 12 C 018 8 Waihi Extended ••• n f i ...i'airua, Broken Hills •-»* •?/.« ' PERISHABLE PRODUCE., "New Zealand.Products',Export_Leaflet No. : 52" issiued liv the .Department of Industries '~ and Commerce,, gives ,the quantities and. .values ' of- the dairy'produce and irozen meat, exports from New Zealand in January, Ms ith a comparison- of the- figures for,.tho. corresponding . ' month. of last'year.\- S'umm'ansea; they, are-as UJl<lor '• . January; 1903.. . January ,1907... cwt. • oB- ' cwt.". «£ ■Butter ... <6,423 227,243! J 73,0441 "359,43,1 : : Cheese ■ 48838, 13G 951:.... 31,842 • 82,330 ' Beef - . 18142 '20108 30,f.(!3 . 45,035 Mutton ... 48,419 , 64,585 ... 102,148 ' 137,405 , I S d :..' 1,220 1,735 ... 1,709 . ... 'iamb L.i 41,851 ■ 7M21 ..: 75,005 .138,606 ;' 'V 204,926 .£526,037 , 320,371'.£765,197 The quantity exported exhibits a shrinkage of 115,445cwt., equal to 36 per: cent.,- and the value shrinkage is JE239,160, equal to about 31$ per cent. Butter exports have declined by • 26,621cwt., equal to about.36J per cent. ;Cheese, ! - on the other' hand, exhibits an increase of ' 16,996cwt., equal- to -slightly- more - than 53 per, cent. ■Taking ',the, figures ,in the abovo table as being approximately correct, tho farmers aro receiving a smaller income, and, to add to their troubles, tho expenses of a'good' many have i been increased by tho bush and grass fires.. . ■ . -- \_ ' , ■ -.- CAPITAL APPLICATIONS IN 1907. !;f According to the "Economist" (London) the ■ total amount of the .capital applications in - 1907.- was ,£123,630,000, which, was somewhat - larger than in the previous year. Tho figures for the. past five.; .yea rs _ com pare as under., Year > ' . ' Amount. ; ' 1903 " ... ... ...' .... £108,,163,000 , —-igOl : ... ... ... ... .. 123,019,000 ■ 1905 • V..' "•-167,187,400 -- 1900 ... ... — 120,173,200 . 1907 ... ... .... 123,630,000 During last year ■tlie''BrilUU , not indulgo in borrowing, but Colonial Govern?, ments secured as against 310,500 in thtf previous . Foreign'■ Government loans totalled >E20,976,300, of which the Japanese conversion'"loan- 1 f6r ! -E£11,500,000 -British Jlunicipal-,and-.-Gounty^loaiis.amounted • to JE6,698,700, and colonial and foreign corporations obtained - \£1j750,700.' Foreign .railways secured ,£23,851,400; electric lighting, power, and telegraph ventures accounted for ; and banking 'and insurance ,com- . panies offered ■ for r'siibscriptibiv 'J!7;930,000'." "A large'part of the banking capital was wanted for extensions in Argentine'and ..other parts of South America .where hanking at'the moment is proving a very profitable, .business. ' HOUSE.i./ The London Bankers' Clearing House is praqtically • tho. piv.oL. upon...j¥Jiich^the v .,bankinE 'system-of the United Kingdom turns, and, ill addition, tho figures given in its periodica] returns form one of the most reliableiiituocf procurable regarding tho Jgeiieral fco'nditioii'ol the internal trade of the country. The tota clearingß for the past five years compare as : • under f ..t ~ . ; 'i i Year. ■ "' " " 'loos ' ' ...-■ ...i 10.120,000,000 inni ... ... ... 10,564,000,000 mr. ' ... ... ... 12,288,000,000 1906 ... -.... 12,711,000,000. 1907: ' ; ... V.. "• ..;fc-i18,7#Q,-OfiO,00l>:-. - The past year shows an increase of '<£19,000,00< over 1906, arid it is a moderate expansion com oared with,what,hasbcon-)vitncssed'-m pre vious years. This is the /seventh consecutiv. year in which an increase has.been recorded ' making the longest pemod. of advance withou check since 1867. lt..iA significant_ that tlier was a considerable falliW (iff during tJjD las six months;' tho -total' ut ''the-- , end< of.'-.Tun Bhowing an advance of .£91,000,000, the. bul of which was lost' in the second half of tli year. From present indications, there is ever reason for. .believing thfit '1908 .will Showdecrease. -' .c -■■