FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 124, 18 February 1908, Page 10

FINANCE AND COMMERCE.

WELLINGTON LIST.

-. the' shake MARKET. ': I

Trading,, was .much: - .restricted., on' . Monday, . /the - only: {sale, reported ;;b'eing v that" of-VGears' V it I thov.yield;Jes^ls-3d .... - per cent..- approximately, ."vln.'b'ankj shares_ there wero more, buyers than sellers. "Bank. . ofNew'.-Zealand''shares'were' wanted t at\'.£9 '12s Gd, Bank of New South Wales ,at ,£13.105, ..' and National IBank.share's at-sE5:;6s(-. with',sell-, ers, of' theijaiteri at-i So .7s..?;lnsuranco share's' ■wero unchanged. Nationals were in demand " at 28s, and New Zealands were on sale nt"£t' ;; ex dividend. Financial.. .shares were .".There wore bids of !.£lo:tor'Equitable'Build- ■ mg, and<£7 8s 6d for Wellington' Trust : and Loan. " New Zealand Loan and Mercantile • shares have firmed with buyers at ss, and ;; •,. "sellers " at" 5s 'Cd.—Wellington"Deposit"-sliaTes' were again on' sale at 10s. Gas shares were ...notquoted. In. meat shares there was no 'change, sellers qiloted.sos for Gears and '. 12s Gd, £5 2s, and £3 '9s';'f6r,'the^seVeral'issues of Wellington Meat .Export. Mahawatu Kails wero again m demand at 43s Gd. Woollen , shares received more' attention. Mosgiels were wanted at. 61s, and : Wellington. Woollens'' i v atss; -, sellers, of the .latter were...holding ... for £3 .10s.Goal.-shares. were steady.- vWest--.ports were"tfUot'ed'-'at J buyers7i£7'"Bs "sellers' •47 lOSj.'and't-Westport-Stocktonrbuyers '10s,' sellers: 10s'.. Gd. -~ ,Kauri; Timber,,,shares,,lss | paid up,Vwero wanted at 9s 10d,' and Leyland- - O'Brien 'Timber" shares wero >on- salo at' £2 | 5s Gd. ,

THE MINING MARKET. : The featuro of the mining market was the firmness of Waihi shares,. which ,changed „ llatida, at -JB9- 2s. Gd and .£9 , 3s.' -, .Taliimlahs frcfti in demand, but no business'iYas effected. The buying and -. selling' quotations yesterday were as under:— '~- ; ■: Bayers.-Sellers. Sales. •• v - ;C. s. d. £. s. d. • s. d. -Big River ... ..: 012 GOl3 G Mrv s ; Tairua. Broken Hills. —. 0 4 ot.0 t . Talisman ... ... 211 32 11 9 ' — Waibi ... ... ... 9 2-0 9 3.0 .9 2 0. '9 ' 3 ' 0 POST OFFICE SAVINGS BANE 7 f \ The returns of the Post Office Savings Bank for the December, quarter..o'f 1907 are interest: 'tag when analysed. Taking the figures for the -December quarter of eachiof the past four years we get the following:— . - i ' 'Excels ojt' Deposits.. Withdrawals. Deposits-! - .£. £. £.■ 1901 ... 1,361,253 1,310,373 '-50,850 •1905- ... 1,538,235 1,122,576 1 115,659 190G ' ... 1,989,929 1,690,052 299,877 V 1907 , .... 2,246,416, (/ , 2,011,536, , / 234,910, It will be seen from the above that while in .1905 and 1906 the increases were exceptionally large, there'pais a shrinkage in ,1907, as com-, pared -.with'.'. '190G,-' notwithstanding' ,'that ~ 'the' .- deposits were greater. In 1906; a little more than 15> per cent, of the deposits were retained: ;in. the. Savings t'Bank;.rbut- in 1907 the deposits remaining were not quite 10J per : cent. ■■ Briefly stated, the people who use the. Post Office havingsf.Bank- were,-; unable ;.to; save- - quite as much "as in 1906. This movement is likely ;tp;,-J».. emphasised-,, this.;, year,',: .Of .' tho excess dcppsits '.amounting to . 4234,910,-- the; North "Island 'accounts'' for 'J!191;063, ' or " 81.33' per cent, of the total. The;depositors.in.the, South- Island only ; managed to.-save <£13,842. The -south has' suffered somewhat from drought,.: which may account for the smallness of^the^savings..v'lri... : the'«Oamiirn"-postal' district the withdrawals exceeded the deposits \by JM3O. , The. deposits and . withdrawals during the fourth quarter .of 1907, 'in the North Island postal districts, are given below:--, a. r ,., * ...:«'v:;»With; l:BScSssof • District.. Deposit's; i dfawalsi'Depdsits. £.. £.. v /. Auckland ... 381,949 330;513 54,436 Gisborne ... 57,818 46,003 11,815 Napier-- 119,C69-" "93"407 V" '26,262 ' New Plymouth 48,497 39,478 9,021 Thames ... G6.393 . 60,711,. 5,682, Wanganui , ' ... 131,091- 115,194 :■ :' '16;497 Wellington ...-470,852 '409,197* '67,355 ' - .£1,285,869 £1,094,801 .-£191,063 • The postal districts of tho South Island give -the following results.:—. '«> , : <;■:; i ■ With-;.. Excess of ■ District.; Deposits;. >>drawalsM)eposits. ' Jo ' £ £ ■ . Blenheim ; i'26^220:--..:-0,030. Christchurch;",;.-. 364,097 ■.';-356,395 ■•••■ 7*702 . , Dunedin.'vS-,:.: ... 262,667 248,395 14,272 ';: Greymouth' ... 37,261 - 35,665 1,596 ' : Hokitika ... 10,079 7,531 "\ 2,518 " i Invercargill ... ; 80,244 75,735 .10,509 •Nelson ... ... 53,854 49;505-'.-.--4,349,. • Oamaru ... 23,677 27,807 *4,130 l'imaru ■ v :i ,w •;60,405>.>i.'.;59 i 619", •• •-W.u West port - - ...r-.30,013. .--29.562 =•• 181 >

. . .'.'.X91G,73t ,£43,843% • .•Excess -of .withdrawals..-M - !>*!": . STANDARD INSUEANCE COMPANY. . The balance-sheet of the Standard Fire and Marine Insurance Company of New Zealand is to hand, and the figures <admit ;of • ing analysis. The. tofcilvpremiumsUfor-"-'the year, amounted to .£38,707, but the reinsurances, discounts, and returns totalled ,£39,031; leaving the"'"net' I "'.premium income at JES9.G7G. Tho lossei!, including appropriations for unpaid and unadjusted losses, aggregated ,£3i,4?5, equal to 57.70 per:ceflt;'Of'the premium incomo; tho expenses totalled ,£19,227,. or 32.22 per cent., leaving the underwriting profit at • JGGOI4, or. 10.08 per cent.; all sources was .£12,091,-.m'adelup!W'-tinder:— ■--* Underwriting profit ' ... ... .£OOI4 • Interest on. investments ... ... 0G53 . Transfer fees , , L .... •»>.»80.212,097 There was brought forward from tho previous vear^lSD,-.making the balance.available for disposal-X19,?§6, appropriated as^urider*:— Reserve fund ... ... ••• ••• Dividend and bonus..., ,7500. Carried'-' 1 7388 i ,£19,886 The Company has done very well, and is Bteadily- gaming<.in " financialTStrengtlnandi influence'. The investmpnts. on '■ mortgage,'"££ 7-1,398 13s. Bd.; debentures, .£13,9111 18s.; fixed deposits, £11,916 13s. Id.; cash balances, J89105 Ms.-sd. W'/?"" With tho publication of the .".Gazette_" nf B the escort and : 'import■■■ returns'-pf ;<thefDo-.

minion : for-the December quarter of last year it is possible to deal with, the figures for the inihole year.-. .Compared: with'.l9o6'- the returns show. asjunder,:-r. vsii.',-.' . -Excess of'" Exports, v Imports. Exports, -u:.-.- Jt ■ £■ 1907, v .. : .I;: 20i071,G36,; 17,302,796 2.76M10. : 1p0Qr515,095,137' 15,211,403 2,883,734; The { exports show ( an increase.: of. >£1,976,499; and the'imports ari''iricrea'se)pf j£2,WI;SS3. > Tho iucrensfl' ,l iif ; thi3' exports' is "noteworthy, and is probably due in great measnre to higher prices, Dut, allowing for that, ,thfre is a sua-, picion ! that we- are " over . importing. If the values for produce remain "it their ' present depressed level, there is bound to be an apprc--ciable-shrinkage-in-;the rolume ol! tho' imports, and, as a consemienco, the Customs revenue -ivill decrease. Tho excess of exports over.''imports, has' fallen .from. X2,85,1,7:H to andfbift'.'foifthß'annual borrowing on the .part of tlio State and the . local bodies, this margin would be much greater. Besides paying for our imports we have to provido for about'^3,soo,ooo •to discharge, the interest duo annually on public and private loans, in .garment of- dividends on""shares, interest on tiebehturSs,' iio:' "These. paymeiftsi'shbuld: come' out' : of - the 'exports/ but as . this Ksis-''not, been' sufficient ,;the l; .past. year,;, tlio . difference ,has-been made "up out of sums .borrowed, d«r-

, ' . MINING NEWS. ~ jix fel, TELE.GEAPR.S-JEESS ASSOCIATION.) Rekfton, February 17. t The Phcenix Syndicate's. first return under tlie cyanide-process shows that 60 tons of tailings were treated and gave 420z. lOdwts. of bullion of the value of; ,£3 10s. per ounce. Callaghah's Creek dredging return :—3ooz. for 131 hours. Z l-J'. - iCbyITELEGRIPH— rRESS ASSOCIATION.) : • Dunedin;, February 17. Stock-,Exchango; sales: Hessey's, 55.; Sailors' Bend, 15s. " - . DIVE'-STOCK MARKETS. SALE OF ENGLISH, LEICESTERS. Messrs. Abraham and ..Williams, Ltd., report as follow on the-dispersal sale. ,of Mr. Wm. , Perry's English . Leicester flock :—The prices 'realised for any sale of English* Leicester sheep ever held dn'.tho Dominion. Buyers* were present from all. pver .New Zenland, tho bulk of the sheep being, purchased by buyers - from Auckland, W&ikato, Manaw&tu, and Hawke's Bjiy districts. 2-shear .ewes made 2 to .11 guineas; 3-shear and upwards, ewes, 'lj'to 17-guineas';-l-'sheat ewes, 2 to 17J guineas; ewe lambs, 'l'^tojiS.'guineas; 3-shear ranis, 38 guineas;, 2-shear rams, 33 to 65 guineas; shear■ling. rams;«loi'toosl guineas';'flock 1 rams, 3 to 7" guineas ;.,r,a»,lambs, 1,.t0, 11 guineas.," '.' - " HIGH COMMISSIONER'S; GABLE; - . The Department' of Industries hnd Commerce has received .the following cablo from the : High" Commissioner; "dated London, February 15,..1908 :-. , ... . " u Thc'-muttdii'in'fiitket' is'dull. ' Canterbury- mat■iton; isiiTeryi scareej.'and is quoted at 4Jd. per lb., nominal; Southland ahd W.M.E brands are' quoted-: at; 3Jd.'; 'North Island, 3|d.;' Australian,'2Jd.,.ana River Plate, 3d..per lb. The lamb market "is a shade weaker, but ' therOjjw..-affair demand. The following aro ''the J cun , cnt quSta't'i'ons':—Canterbury, lamb, s|d. to 6d. per lb.; other than Canterbury,'sJd. to .5|d.;.. Australian, 4Jd- per lb. , There has been no alteration in tho beef market silico last week. • .(Tbere'js a general;advance in the butter-market. -New Zealand is quoted at 150s; Danish, 1515.; Australian, 1485.; Siberian, 1445. per' owt/'' ,,; - ,: " w "' The cheese market is quiet but firm. White makes aro _ quoted - at. 61s. 6d., coloured at 625. 6d. per cwt. The hemp market -is weak. The following -are/the;^curreqtr.quotations:—Good fair grade, .jG27>'lss.<; grade,» r d£26 155.; tow, J6lO per ton. 'March and April shipments, good fair jjrade, £27 10s.; fair grade, £26 10s.; fair cur"rent"Manila, £27;Jto-per ton. Tho first shipment of hemp from St. Helena proved of good .'quality, iand'-sold- at : .'i27 10s. , per. ton. Tow from" the 'ijlandCrealised jier. ton; , v^iT^-'/cocksfoot'market-is qniet but-firm at ■last''quotation. ..... ~ , - : t ' The 'following 'are -the..current, qubtatioris for ißradfor"d- : top"s low- drossbreds,. Is.; 40's i ''low-crO'sfebredS; ls/'OJd.'; 44's medium crossbreds, ls._2d.; 50's halfbreds, Is. 6}d. ; 56's quarter"'brcds; Is. 93d.; -60's merinos, 2s. ljd. The market is quiet/ •. ...Theliiollowiri^ 'ithe'iishipments from River Plate during the month of January, .1908 :— . .Mutton—London, •i.92,309; Liverpool, 111,303, - 13,'892Newcastle;"4000'! Cardiff, 420; Southampi t0n,•1300.' Lmhb—London;■ 6960; Liverpool, 9841; Hull,-'-987.;'-'Nffwcastl6,"'2oo; Cirdiff, ml; South- ' :, ampton,''-14i; i - ; -Butter-rV'ari6us-: ports : 11,542 cwts.

WHEAT STATISTICS. BT T^QBAPH—PBEPS ASSOOIATIONr-rCOPYBIGHI. iJ 'February 16.' ii.TJie afloat for. tho United KingdomMs'4,3-15,000 quarters, for tho Continent 2,070,000, Atlantic shipments 224,000, and Pacific GO,OOO quarters. THE METAL MARKETS. .... London,; February 10. :■ Conner.—On' ; 15=.three,' months, *#59 '5sV"* > V , ' ' Tin—On spot, ,£l2B 10s.three months, <£127 lOS;-^ Lead, .£l4 5p.. . Silver, 25 13-lGd.-J-''-.Antimony, .£l3 10s. —Spelter is at J221 15s. and very strong, owing to German producers forming a syndicate and agreeing to- restrict f prtduction;-,' V '.'' . THE MEAT MARKET. , London, February lfi. 1 Rabbits.-rMark'c't r &rii and .prices, unchanged. ' • Lambs,—New Canterbury, all classes, Gd.; North Island, 5Jd. . v ,Beef.T7New 4 ,Zealand .unchanged, j;'Rivctpijittf' §h<sep'.-rHeavj,. 3d.; light, onchiuirfed: -i ■ : Beef.—River Plate, unchanged. ' ■ I lia; S.JKEW,ZEALAND HEMP: ; •> " London, February 16; Prices arr, firm, but the market is flat. .February-March 6hi*iment_JS27 10s. ner ton. .

; : v;J?'™.™ 0 .'' r2 Vkkffi'li ,f V.. ■ f ' COMPANY " ''• " Capital FuildUvKl.'; £3%. ;i v r . •v'J "•• —. '.^..>-.i — rl fluiv™ ' T Pa .; dUp . .Jg - My.r.' :-Heller. Wor. I BANK3,1.;I .; ; V.-f.j '-' ■'-5'. "v-4 ■ '■•'■ 'in-' *t" •'* M $ i'l!'6" :, 3 9 0 ' ■x : •• Sew Zealand: . - J, COO, 001 , •■ 581,67-1 - - Si ?M-r •"'*« r 0' 5-60-', - 6 13 4 , "."7 ■'.. Rational'' - - 375,000' :> "J 335,313" ••?■ S4 - ; 12; -f®;,, 6 ; °.,'...... . ■ ."° - . . . 1 . .. ".Ktttional. .1C0.000. -- MM39 .. ':••»• -.units.-; »* -}" J X' " •<!'■■■ Kew Zealand 'V SOO.OOD '■SX.M ' v "2" •.'8 .10:!-: .i 0 .-.■ . I - Couth British' 'i" - . 100,000 : 512.400 .. li oq'.W.. • J-'J o ■ I ttamlard •- 75,OM'/-,--87,386. i : BnlSd. :10 FINANCIAL. , " ■ . ti n' 10 D'O' & 0 0 1 EquilableBuildinS 1 CO.000 - " - ; r'5., ■; >,5-.- 30 , ,W, P iP- 1 .. 1 "„". ... ; .MetropolitanBuilding 21.000 . 5,229 ..,10 ' .nil l .i. n<J 3 *0 12 3- 5 0 0 . 'WellingtonInyeat.. I.v- .50,000 ._ v. .M8 ''»> .'.'& M. 0' ■ 7 8 0' 5 I I .Wei'gtoriTrust&Iio&n' V 101',950 ; " ' ! "44,334' 5 5 •' 8 ' , R 'n 'V 7 6 '8 5 8 6'S'l ..".-VliattoMrttfortirtt*'i.-sawm-: sllMSt"-:€.»■■ .»■*&■. *••»&■'> 1 iS«'o ' '• lio'o 413 4 - N.Z. and River Plats 300,000., 852,000 1 nit '7 J 1 " « , 5 J « . M , a « ■ • ■ loanandMorcantUd - 135.22J 315,133 i 8i ' 6 ° 5 0 . 0 5 '■ 101 u u v ;..: : ■ GAS. ..• ' ' "i ' ■ Ancklwid • »'. 380,370 03,359 • ]'• <' 'nil J ' in 0 0 fi 0 0 •; Ctabtohuwh ■ - 152,000 55,087?.: . j5> 0 . 10 6 .'••• (FdMlngi- •' -' 10,805 103 1 nil — ....... •i'v Gisbotne' —• 10,5H— - 1- :..njl.— --13J —— —— : " " jHawera 8,250 745 3- 1 10 Kcw Plymouth . . '18,000 . 3.159 . 6 m 10 Kapier ... r.)i - .v . , oil . .15, ■ ■ ■ " . „ • .- - r.49,857|. ';'2MS3." ; 5.;,. « «=.,■, ..3 7 6 :. ■ ralmwstonNorth '-". £7,000 ■ : 11,093 45 , § ,o,I5 1017 6 ' ' ■ : ' '■V Wellington .; , 121 , 5^; M:. ,10 . .10. .;1S|. 0, ,10 17 6 ; , liEAT. ...' .: i ■ ,i ■; ... . ........ 7.ir ■.n .... • 1 Canterburj' -. .• V.183.727 . CO,074. ' 75 ' •. ( .8 . 710 7 r . .. . Christehurch. v:l:168,393 :•.. rWiS'x ,"10"-ni. 8 )1013! 0. 10.16 0 1013 6 ,.U 1 Gear - • •. • * 62,Oft) | : ' ' ' ' 8 . 6 .' .'. 10 " 2 ., 9 ° . 6 ;V : ; ;4 : -b" '1, if. 7o-v -i 1 !' 0 ;i"b 0 - 6 5 6 ,, •• 5 =... 105.766J-- . C3.7ST, , s 350, ";3<5 9 3 5,6 6 8 3 • Waccanni " , "43,550 •. .'11.401 V . .J ' 6' v \ f ■ TRANSPORT,, ;; " »<>»«' »• '*' ' ".1 -'0 1' J • fl fl" 9 . fi ' ' B Q r, V W.&M.BaUway / ' v ■ *170,000 ;- ; 321,453 ? :."l- ' -i.l ,.S._ 4 0 .3 3,6. S3 0 ; :,i; K.Z.Shipping • 473,810 v 113,751 8 - f. | y:, ? . : , Union Steam ... 600,000 " 472,503 • 1 m . 74 112 0 HZ 0 . "Wtjtn.StoamFerry" • • 4W3 bo-,. -. 1. v.-,6< r i :: VcEiport OAf '" . JS0.001 il7,!i3 :aL li •■'iT' : 'lp r< f »'«'■< 110 0 7 8 0 6 0 0 82,503-. 6,3i3 . .. 1• nil.,., . H . .1.0 0 1 0.3.'. . , /WooffiEH. ■"■■■•"; -m • . Kaiapoi- . - - ... 100,000 , v E2, Ml 5;. nil.. . 6. - JtORgiel- ■ > • -. - .63,457 17,211 8i- .vli -,<• nA 0 . • v i • , . , •V- AVeUicSton . - - m.OOi U.36J i 1, 0 .3 6 0' 3 10 0 ... 3, 6 0, 7 5 6 ■ 31ISCELI.ANEOU3.-- —~ -.—j-j • h : DonaghyRopo - - 47,000. ■ — > 5 .nil — 6 0 0 ■ 6.0 .0 . Leyland & O'Briea . 35.000 . S7.761 1 nil 15 8 5 6 6 3 u MauricovillaLinn . . : 7,OOJ . tOi 1 n !| 8 ■ . • ' N.Z.Caudla - ' 10,0)3. V4:,'10 v»; W'f KX Drugs - .-SCO,000," , ;T4,5H ,, ;v.'3 ...Mix 6 » J.J1 '•«: '•'?"? 5 ! 5 : * U.K. Paper UillJ * 04.753 1,177 .1 nil 7 1 3.0 1 4 0 1 3 3 6 0 5 1 K.Z.Cement- • ' ■ . 40,0(X). . 2,741. 1' nil. —. 112 0 '113,0 : llanning&Co.' - : 06.00J . E7.670 . 1 ■ i „Mi. Ward SCo. - - : " : £0,000 i0,655 4 v ?, 10 - . iH 0': Wgtn. Opera Hons, - 1 1S.63J . . ,1.705 _ . .6. nil _,_t\ . • . i(n . Wgtn Fresh Pood ; - ,28,261 - •<-. i.l'.. ... . : ,W . Whitcombe&Toml)«. • 46.25J . SUB., , 6 •:.■!} .. 'J® ' »,« '• 'H-it. .< o i 1 Wiarland, iiimiteiJ'C.l' lb,A7d - 9,311 ' 1 .. 74 -4 7 6 019 6 0 18 3 , .8 4 4