FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 135, 2 March 1908, Page 10

FINANCE AND COMMERCE.

THE.SHAKE MARKET. • The past month proved a dull one for the I sharebrokers; r . the.;' turnover ( /was">,\nthiri.' small' compass,.' although'i 'a - wide' ran'ge' ,: of, v. were -transferred. On .Saturdayi investment . shares, were quiet. There -was a sale of.Loai;., ':- - ; and ' Hercantilo shares at 55., with -' further; ( buyers at; "the price; The quotations''for''the' ' day were: National Banks,' -buyers 45 /65., sellers 45 7s. 6d.;; Bank ,of New -Zealand, .' buyer*)- 49 12s. 6d.,- <sellers;'49.lss.-. shares, were dull,' ' with' ?sellers'' of a Nationals' at 28s. 3d.. New atf 43. 16s'i, and Standards at :£l 3s. 6d.li 'Financial 'share's were}' quiet. 1 here were buyers of New Zealand and Rivor Plate shares at 30s. Bd., and sellers at 31s.'. National"Mortgage;.; were on -sale at : ■ 43 ss. Gas , shares animation.. 1 ' For Gisborne .''Gas.''/shM^'|tUero' ; 495., and i'WeUihgtbn>i-Gas;NWero ton .-sale .at 419 15s. >vOther/v"q'u6tationS ,were: /'Wellington. ' .'ii;nMeat Export; ,thir.dj-is'sue,-;.-sellers^' ,^s,;,6d. Wellington and/Mariawatu "Bails, 'liuyer's ' ,4s. 6d.; : TJnion • Steam~ buyers;. £1 13s. 9d.-, sellers 41 dSsl'i Mosgiel Woollen; .43 Is.; Wellington; Woollen, sellers -43 6s. \Coal V- shares, are quiet, .'and''no; t doubt,'tha .ftfotinued'-:.'-troubles -v-art'' : affe'cfing'' ''the:- /market.'' 'There 'were sellers of Taupiri Coal shares'at '~ .-20s. --3d.V;Westports at 47. Bs.,', and, 'Westport(Stockton at; 10s.; 3d. Leyland-O'BrienV Timber • > shares were offered at ils. 9d., andrfor'sNew • , Zealand Drugs buyers offered 42 y -lis.,- and sellers wanted 42 12s. 6d.There;were sellers ■' *' •of - New Zealand : Portland Cement " shares at 32? 6d. The course, of sales during the past month ,was as follows . Bank of- :New~"Zealand, -49 -12s. • 6d., -4913s. 6d. . n National Bank, 45 65.,- 45 65., 45 6s. 6d., ■ '€a 75., 45 75., 45-7s. -. Union Bank, 459:105." Bank NSW, 443 10s, 413 10s / i Equitable Building, 410. ; - Wellington Trust and. Loan, 47 Bs., 47 9s. Loan and Mercantile,- 55., 55., 55., 55., ss. New. Zealand and ..River Plate, JiOs. .. . New- Zealand ■-Insurance,"-'Bos.'• - •: Chnstchurch Gas, 410. Wellington Gas,\4l9 10s., 419 12s. Gd. • . ~ Chnstchurch 'Meatri-410 .12s.> 6d.,. [410 .155.: .Wellington Meat Export, 43 5s. 1 6d. ' . Gear Meat, 42 95.,' 42 95., 42 65., 42 9s-, £2 9s. Manawatu Rails; 4Js. Cd. ' ' . . .Westport Coal, 47 165., 47 Bs. 9d. /Westport-Stockton, 10s. 3d. - Leyland-O'Bnen ! Timber, 455. 6d:, '455.,' 455.; ■■I' ■ 455. >:■ ' , : ■ . .-

: Kauri Timber;-95. ! 4d.; '10s. Id. " '. . New Zealand-Drug,- 51s: '3d., '515., -51s:': ■ - Auckland'.Tram,, ordinary, ;245.;.,(jdi-.:. . Whitcombo'and-Tombs, £i -Is.' Gd:" -i V Taranaki Petroloum, ss. i THE' MINING MARKET There, was some revival in this, market yes-terday,^'..-and-.brokers were favoured with a 'fair number of buying orders. Waihis main- -. .. tained their firmness, and changed hands,-at." ■ "J® 3s. 6d. : The buying and'.selling quo'tati'oiis]; •:. ; :on Saturday, were, as undert '■' ':, v : -Buyers.- Sellers. Sales... ■ .£ s. d. ..£ s.-d.' , y £ 's.-d. Waihi -• ... »_ 9 3 6 9 5 0 9 3 6 Talisman . 2 13 0 : 2 14 0 -r ;' , New Zealand Crown 0 611 0 7 2 —. May .Queen .... ... 0. -1 10= /0 -,2; 0 v 7-; s. : Tairua Broken Hills , 0 .31,-6 ?oy4: 0 s—' Big-River ... 013 0 015 0 . — Kuranui .0 v 0 11->; / "The - course/.ofi sales -in 'this market;' during--tho month- 'of-rebruary-. ■■ -Waihi, 1 -15s'., . 155., 'X 9. 2i -,6d. ) .U9; 2s.'.Gd. : ;' 'i 9: 3s.V': i £9:' . : 3s. 6d. • . . • Talisman, 525. 6d., 525. Gd., 525. 9d.i 535., 535. 3d., 535. 3d., 535. 3d., 535. 3d, 525.. 9d.r 535. 3d., 54s. r 6d., 545.,'525. 9d.,. 525. 9d., 535;, ■ £3s.- 3d. . ' Tairua Broken Hills, 45., 45., 4s. 2d. i. May Queen, Is. lid. ; ' New Zealand Crown, 6s. 9d. • : Kew Una, sd. . CITIZENS' LIFE ■ ASSURANCE 'COMPANY; LIMITED. By tlig - Sydney, mail received this week -tlid report of tho Life. Assurance Com- . pany. Ltd.,' for tlie"year ended December 31, . : 1907, is to hand. The report states that in the ordinary branch tho number 'of . new ,poli- .. - cies was assuringijei',211,405,,:and producing a;new annual premium income of JE41.950. Claims , by death. and maturity of policies amounted to >£48,513. in' the' ordiriary :; branch, and i£50,777 in'-? tiie 'or "V .total .of X 99,290. ' - The^''revenue '/accotfnt'. for; . the ordinary' branch;:sh'ows; that -premium in--' - come amounted'-to -'i£'241,897,-' 'urid; ,-including. , interests and rents,. 'and"-other . l itenisj.* tho .total incomei'/W'as Payments', tb, ■ policyholders "(mcludirig.' I'stirreriders, .:..'and .bonuses) amounted;^,to''-i£!3.803,,-afterpro-viding for net'"'expenses;'-'. and net .amount i£12;925, the amount added to the funds of the' ordinary aranch is .£178,083, raising them to >£1,417,840. In 'tho industrial branch premiums amounted to >£185,434, interest, rents, and- fees' "jC25,9G1, arid net profit on realisation of securities. . i!. 23,690, making'-' a'.'total- of "'Disburse-' '. monts comprie? dividends >£2000, claims and. surrenders .£55,770,' and commission and other '-.charges and taxes the amount added to the industrial ; department funds -being,£9G,496. The general balance-sheet shows. that liabilities, including shareholders' capital paid up, i!20,oOo, assurance funds '£2,047,1?8, ! policyholders' bonus reservo : funds iIO,OOO, . and minor items,-amount to <£2,090,718.- Assets in"chido Consols >£20,000, Australasian , Government securities .£651,350, municipal loans and .-: debentures ,£55,822, loans on mortgage ,£471,915, . loans .on policies within surrender value '.£111,752, property, .£194,870, and other "items. Thej average' rate" of interest earned is stated at £i 6s. Bd. per cent. The valuation report-on'the ordinary- branch states that tho / principles and'methods by which the liabili- . ties were measured were similar to those. adopted in tho last valuation; but certain. : changes haTe'^bera' , <pVen !C Pffeet''titf>"ii«'BaltiiiK: in the furthef ; strengthening-;of^\the .'reserves' by over ■ i Of-' .tliis' ;^ amount,', -the', greater portion is due to tlio pla'cing-ort th'o'.'i per' cent, basis of those contracts issued prior to Janu- . ary 1, 190G, ,which'. were f valued ,_with'. ; interest at 3.J- per cent/ on the Jast occasion. .•■The i net. liability, according'to tho present valuation, is .£1,357,594,' and as tlie amount of. the/assur- , • ance fund is J81,417,8-11, the net surplus ■ is, >£60,247. Of this ariwurit, . is set. asido for division •: in "accordance- with; the'-' articles , of association, 80 per cent, thereof appertain-' iutr, to nartipinnHnir jioliciholdars,- ""H 20 flflT

■■■: >- '■ WELLINGTON SHAKE LIST. ■ ■'■ -, '.v; i' ( t'-vi .'Il l/- :

.cent. to sharoholders/'and the ;balahce,' ; 41593, : ■is carried j forward.^-In -referring to. the. agree-' ment'.fori amalgam'ation' withrithe ;Mutual- Life Association -. of-' Australasia'; the: : report ■ states that/petitttihsito'Sanction it' have 1 been made to the various ! Suprome Courts. ■f-The Company has.TSiicceeded in reducing its expense rate "in'"its* ordinaryy.-orarich to .10 per , cent, of its premium income,' and. commentinjr ; on this the "Sydney. ' Morning Herald' , says s—"lt • sets. up j'anew • 'standard of excellence ■ for life assurance' societies in •Australia,./ yr^tJiyi.-Jhej;....fljf:JtKe . flag, of mutualism)'■ or'- arc- proprietary-: in ! character. Never 'Before" ha'sPany^Australian ■ Society succeeded in - reducing its expense rate in its .ordinary, business .to ,10 per • cent." of its premium" receipts.'! '".This sp'riald-ArelL for the' 'economy.ijof; tho 'management pursed, but it is a . fact. more, striking .even' that' this Company ; in., reducing.' the • combined exof -its. ordinary and industrial branches "together''-t5' a' lower : point than'has so far been,reached by any Australian society ;but. t one on -its. ordinary sido 'onTy.'V <

:ENGLISH iKQP-GHQWINGi • A real 'danger threatens thei : -Kentish bopgrowers for the foreign'comnetition. under the American trust system is w"hbH'y 'unfair. In-formation-.from:. America: states that a large movement, is. -Sor foot' amongst certain of the hop .trade.'of,.,that,country to form a Hop Uinioni to include the whole of the .planters .ot,the. Pacific Coast, the. object being to get J all !, their produce under one management. .The English'market is looked to as the means of solving profitable hop-growing) as statements going in America allege that the .entire American surplus can be shipped to the United Kingdom on consignment, and. niu? esteblisliT:ynjiT}?rative internal prices for - United States- 1 growers. According to American reports, also, liop-growirig in England is doomed, as English growers cannot compete with : >the.' product of the; American Pacific Slopes, and English hop-growers must-ev'enhi-.ally be driven out of the trade. However, al•tlioflgh'rAMiftfctf ""can'%row •- cheaper hops, ' the better quality«&ndiimproved curing of the English article will always sscure it a'preference, andmfurthbrmoroj'ja Hop Growers' UnioiK has ;been tried v .apd. failed., . The surplus from. America is being' dumped in. Erglahd, and, just .now;.;,ihe.'Amoricans are, in the -positiotf of .'beihg' forced''to , to 'the financial troubles.' ' -The' severity"of- the' eem-'-petition may jsoon pass away, at all events the suggested'import'--duty of-40s: ; per' cwt. is'-not jlikely to be imposed, something less will prob---.I'V- ' •• \' : i

THE .TOOL MARKET. The next London .sales ,-.do not • .begin until ■Tuesday, March 17, and nohnthsLiud l U-jg, there, are,,-already,predictions .of -a decline in values.. Messrs. Dalgety and Co., in their cablo message dated February 26,' say:—"Wo expect a.decline in prices at next series. - ' This, is rather . discouraging, because 1 .there- is.generally big,; Kefr- Zer.Hand wbol'in-the MaTch.'sales/.'Last year out "of a: total of' 163,980 bales Australasian v.-tol, New Zealand accounted for 70,741 bales. Jf '■there ;, is ; v a'.'falli'iniValues,;and '.vo,'believe ti;eie will be, it will . be in crossbreds m&irily. The statistics furnished by, v Messrs. -. Helmuth, Scliwartze, and Co. are. of considerable in-' terest just^,now.,, JThe 'average value per bale of Australasian imdrCape'.wool- in 1907 is placed at ".£l6yios."; 'Which' is slightly 'lower" thun in the previous year,-and is entirely due to the decliM J average viilu'p per bale based on Jfe December' sales;l'ney wtiinate at .\£ls ,'los.',.' br.'2os!.';less- than 'ihe average for market .'commenced; its' downward .career in.December,.and"there'has sinco -been'-'another decljno'in'January, with a'pros-' pectivp- further ; fall in,' March. J<or !hii-port' ;sev(ih'yearS,-' tho 'figures' of colonial supply and value compare.as under:— -i -.><«.ikt. M-mhj,,.,. ''-'Average - . Total Value Total . Colonial , per bale. Value. Tear. ' Bales. £ 1901. ... ... 1,962,000 10 10 20.601,000 1902, ; , 1,933,000 11 15 / 22,713,000 1903: .'; ; .r .... 1,085,000 ::-13'15''-} -22.747,000 Jfl0«. ' 1.572,000 '14 10 ' 22,794,000 1905 ... " ... 1,842,000 15 15 - 29,011,000 laud.-2,071,000. 17 - 0 -. 35,207,000 1907 ... v.. 2,390,000 16 10 10,435,000 :. v NOTES. ; .' . i Therewasan'; {increase of i. 802,232 in the number of sheep in the United Kingdom last year, and . this was doubtless, .the result of 'dear'wool;,-as-even the high prjcq .of'mutton did'hbt : -'draW' ; for ' the supplies sufficient'' to .meet th'i'i'demfindi," ' .'"Since''''.flip industry. was estab-; jBB2/;'New. Zealand eiported to the United. Kingdom 57,787,855 ciwasds " of- mutton andj,lamb'.V It .is an: excellent record- for 26 ■ yeare.' J V.V -. '. V , > :■ During the< twenty-four years- ,1884 to 1907, both years inclusive, the grand, aggregate of the : ,.Ji:Awaal , go)d_., output " amounted to ■fi1QT,275,166, /and;> the "dividends paid during the" same period "totalled *£47,607,726. V Nearly 100 biasi; furnaces ..were' blown out >in../the'.steel :and iron industry; in the United States at the end of last yenr.,.. ~&a agreement has been signed .between the Natal Government and.' Kynochs, >■ Limited, under.- which vthe-. latter,undertake';to erect' a lai%e"- , ftdt%'?.fof-the;-mahiifatilur6,.-of explosives in the vicinity of Durban. ■>. The Commonwealth last imported en.gines. .including'-'agricultural, to the valuo of .£1,248,835 from: Great Britain, against .0934,390 worth in 190G; ; and ,£686,681 worth in 1905. These figures' are .Significant, Sinco its inception the Australian. Widows' Fund Assurance Society has- ' .distributed X 1.869,363 in death claims arid in maturing 'enHowfaients;"'", /■'■■■ ■ During the'last decade this society ha? paid away more _oii account_ of. endowment assurances than in death"claims. ••• " '■ : .MINING NEWS.' (BY XEIiEQEAPH.*—PRESS ' ASSOCIATION.) - ..'■» ' Auckland';. March 1. I.Since the..compilation of .tho, gold returns from .thq Atfckland-djstrict mines-for 1907, the initial returns from " the principal bullion--produciufi properties forthe.-present year have.

come to hand. Those frivo a total of ,£00,107 lis. 5(1., and of this amount, Ohinemuri contributed .£85,975 19s. 1 3d.; Thames, £4119 16s. lid. j and Coromandcl, JCU lGs. 3d. i During February the VVaiotahi Gold Mining Co. crushed and treated 432 tons of general ore, and 511b. of picked stone, for a return of 711oz. Bdwt. of retorted gold, valued at X 1943 3s. 3a. Th;= is nu increase upon the return fur January, wlum 152 tons and 301b. yielded .£I6OO 13s. Gd. During February of last year 1516 tons and 7781b. were treated for bullion worth ii 18,883 lis. Id. The total amount, won from the mine to date is ,£611,012 Bs. Sd. STOCK EXCHANGE. ' , (bi telegraph.—press association.) Dunedix, February 28. Stock Exchange sale: Talisman Consolidated, 535. 9d. DREDGING. (BT TELEGRAPH —PRESS AS3OCUTION.iI Dunedin, February 29. Dredging returns:—Riso and: Shine 11, 71oz. 17dwt.; Golden Bed, 530z. ldwt.; Alexandra Eureka, 41o.?. 12dwt.; Manuhcrikia, 10oz.; Waikaka Qiieen, 3ooz. 18dwt.; Sandy Point, 230z. lldwt.; Rise and Shine I, 18oz. ldwt.; Punt, 17oz. Bdwt:; Charlton Creek, 16oz. sdwt. ; LIVE STOCK MARKETS. Mr. Newton King reports as follows:— Cattle.—At Stratford on Tuesday bidding was quiet, and prices in favour of buyers. Very few_ weaners came forward, but all. sold at satisfactory prices..- Some good lines of store cows were yarded, but did not meet with much inquiry at tho hammer. Most of them, however, were placed after the sale. Good weaners made 30s. Gd.; inferior weaners, 10s.; 2-year steers,* .£2 Its.; 2 t to 3-year steers, ,£3 Bs.; 4-year forward steers, .£s'ss.; store cows; 355. to 405.; forward cows, £2 10s. to .£3; fat cows, £3 Bs.,Gd.;.bulls, £2 16s. to M 7s. (BT TELEGRAPH—SPECIAL CORRESrONDEXT.) ; Padiatua, February ■■'29.. .' At the pig and poultry sales to-day the entries and tfite attendance were, small. V Weaners made only from ss. to :ss. 3d.; small- stores,. 18s.; f0w15,,.6d. -to Bd.. each; and'ducks,: 3s. pair. ' GRAIN AND PRODUCE. ' (BY TELECRAPH —PRESS ASSOCIATION.) Christc'hurch, February 28. ! ' •During the lull in the wheat market, several sales made at tho lowest prices recorded this season.--Lines of 1400 bushels of tuscan, and 1200 bushels of ..hunters and- tuscan,..were placed. at 3s. lid.' at-' country stations, and it is-reported that a line of hunters'was sold as low as 3s. lOd. The cable announcing! the. recovery in the London market has influenced matters locally,-and growers are now holding firmly for 45., and' in somo' cases for; more ; but there is not a largo quantity of wheat offering. _ ... Oats are coming forward slowly, and prices are very firm. Few . sales ure taking • place,, and the only ones of any consequenc6?reported ; are of a line of feed Gartoris at 2s.,.and 1600 bushels of the; same variety at 2s. lid.' at country "stations. ■ - ' : '" (Supplies of chaff cannot be obtained.at less than J!3 10s. at country stations, and at tho same 'time there is little outside inquiry. Grass seed is in good inquiry for autumn sowing in the . North ' Inland, the recent bush fires, followed by rains in _ some of the affected districts, having - intensified the demand. ' i

; Potatoes are in little demnnd,, and onions are dull of: sale, and-the price'is .inclined to be' . easier. \ j ' - ' • BANK OF ENGLAND RETURN. V • : London, February 28. The .Bank of England return issued for tho week ending "Wednesday,: February.26,. is as under:— • ' ' / .- . ISSUE Department.- . '\ Noto Issue Oj.OCO Gov. dobt £11,015,000 - Other securi-.- , ... • 'ties! . -7.434.000 . " Gold ' ... 37.955.000 .£56,405,000 £50,405.000 Bakeko Department. Proprietors' Govt, socuri- •✓ capital £14,553,000 : ties ...£14,327,000 Fublio de- Other securi- . . ~ posits ... 17,716,000 ties .... 34,9!0,000 • ■ Other de-, • " „ . . posits ... -43,729,000 Notes !.. 28,534,000 Rest, 7-day " and other Coin ... 1,336,000 ; • bills ... 3.2C9.000 £79,337,000- v ■ £79,£C7,C00 The leading items of the, Bf nk-; of England roturn afford the following comparison . This week. year. .

Bullion ... 37.056,000 37.i03.000 25,3-23,030 Reserve...: ... 59,0e0.<M> 29.C11.000'-27,274,C00 • -.Note circulation 27,611,000; 27,560, C00i.2?,685,0.10 ' Public Deposits 17,716,000'15.338,000" 14,MO.OOO" Other Doposits 1 J3.729.0C0 ®),£BB,OOO 12,741,000 Proportion of . . . reserve to ' "' liabilities '■•, 49.13 , 52.15 17.23 GOVERNMENT SECURITIES. . i The following are the latest quotations for Government securities'with ,a' comparison ;of those ruling last'week:—■

THE MONEY MARKET. ■ The open. market discount rate fpr the best three months' bills is Is. 3d. lower, at ,£3 10s. per cent. The Bank of England rate is [unchanged at 4 per cent.' ; ... .■ , . COLONIAL AND OTHER ; PRODUCE. Wheat.—The markets are firm, owing to activity in America, where supplies are falling off, and speculators trying to cover short accounts, but legitimate business is small in face of tho enormous quantity available. iCar-' goes are firm, with a little inquiry— 355. Gd. was paid for a steamer parcel of Australian afloat. Sales of Australian,' spot,, have been made at 375. to • 375. Gd. . Flour—There is a fair business. March-April'shipment'sold at 275. Gd. landed. . ' Butter.—The market' has collapsed. The Copenhagen committee lowered quotation for Danish 18 kroner, making London price about 120s. .There is no business doing in ' Colonial, which is. nominally worth about 120s. Retailers are still ■ forcing margarine butter. It is expected that lower prices will revive the demand. . . ' Sugar,—The market'.is steady.' German'beet, 88dee., 6d. higher at ' 10?.; first, mark granulated,- f.o.b. Hamburg, 2d. higher at lis. lOd. porewt. ' Wool.—The Bradford tops market is slow, of sale.. Quotations are Forties, lljd.; fortysixes, 13d.; common sixties, 24{d.; super, 25d. , THE METAL MARKETS. ''' , ' Copper.—Spot, ss. higher at JCSS per ton; three months, 10s. higher at JGSS 10s. per ton. ■: Tin.—Spot,, 325. 6d. higher at JBI2BI 7s.' 6d.; three months, 455, higher at JGI2B per ton. Lead.—7s. 6d. lower at JEI3 12s.'6d. per ton. Spelter—2sl 6d. higher at £il 2s. 6d. per ton.

MYOTANV : • Capital Fundand Pj Iiabil r . ■ _ riiICE3. ' Tio'd COMPANY, p ai d Dp Balance .«.5 Last ,0 Forward Share.* . rip ; Buyer. ; • Seller., f. g ll0 Investor. V- ' : ; ■- '■ ■ t'lwh- '-i-y ■ c77~: -\ ■. ■ Y " ■■■.., •, - " banks. ' s' i'"' s ■ t ■ «.'a." je-.t-a. £ ». <1. : , Few Zealand i--. - J.000,001'-' : .J81,675., <"31 .-J> JS- «., • J® 15 ' 0. ; aia>« >• 3 9 0 ciational ' 375,000'" "=335,313-"Si- Vi5~>'-"ij'.' 0» ">'jS <7-6 ' 5. 7 0 5 12 3 INSURANCE. ; ; ' „ . ' v; : .National.: "JOO.OOO:: .'249,333. ...-} ,nnltd.- :s -rJBO -1-8 3 1 7 6 |9 i New Zealand 300,003 396,b74 • 2 8 H) 3 16 0 . Eonth British • - 100.000 i ,513,499 1 unit-:!. so ..... .... _ 6 - 15 . 0 standard • 75,030 ■: V 87,386 :< 1 .unltd." -10' -i r. ' '>1/3 6-. FINANCIAL.. ; . l;4 .-• ■ ; ■Equitable Building . 50,000 . 45.240 ■ B S ' 30 10 2 6 10 0. 0 5 0 0 ■ ., Metropolitan Building 21.000 5,221 10 nil 7 . ■ ! : j' Wellington Invest. 50,0CXJ, .3,933 J J' 6'"" 013 3 0 13 3 6-0 0 fj-Wcl'gtouTrust&ijoan. 101,230 . 44,334 5 5 ' 7 8 6 7 10 0 7 .9 *0 5 7 4 Mortgage ■ . 200.000 , .112,250. •• 2: ' ",8,'' -]0,- r* 3. 5"0£ t; 0 • 3 5 0 .6 3 1 .K: ; „>K.Z. and River Plato.- ,300,000 : . 253,050-r r l 7 .'l-MHT "TO'O * 1-10-0 4 13 4 XoanandMercantilof>135,2AI. 315,133 i El' . 5 0 5 0 .0 5 6 0' 5-.0 . 10 0 0 GAS.'? 11 :- ' :;v :VT3? r-yvr:" Auckland - i i'Vr - '180,370 - ''93,359 . 5 nil 16 . \ Cliristchurch . -'.152,030-. . £5,087 5 nil • 10 . I'eilciing '-.'T. ' '. 10,835 : : 103 . 1. • nil . —. . • Gisborno . . . 17,303 ■ -10,5)1 '. 1 1 nil 132 2 0 0 2 12 0 Hawera' . ;j. ■■} 8,250 1 ' •, 1 -.745, . 3 i .10 '•. New Plymouth "18,033 ' " 8,159 6' mi ' "10' '.'-Kapler - ) 10 nil 15 ' ... * • . . - > «9,9571 V 28,183 . 5 . 5 M •. flK • fl •• ••"is' '• •' ' -■■3'"! 6 ■■ I 1 ■ ; Falmerston North '. C7.000 11,093 ii j . 10 770 VVelliuston ; 7i,'i33 . 1U nil. 10 119 15 0 19 13 6 5 2-0 . „ ... • 124.570 j. . --j ..'5; JO ;'.0 15 0; 1.-" . JIEAT. :. .. ■ . t»: ■ ICanterbury - . • /183.737 50,074 • 75 2i ; 8 ' 8 '0 0 " * ' .. . : Christchurch > -i'T, 7 .163,39j'■ ii'itfii'-.-. ->1U • r. nil.,,, ,: JS 8-i , v . . Gear. - oVrm' * CG,a61 . ', 1 -iiU.'-. ,14- : , -2 6 6 2 10 0 2 9 0 5 1 3 .'"M'v::. • UWJ- ... . . • . ( t , 5 - - • J. 2J : .. •• ' ... ... Wellington Meat Exp .)' 5 nil. 8 612 6 . •t; >V,, . 105,7G&};- ;•> C3.7S7 - i 1 - 8 5 0 0 ,5.3 0' 5-2 0 65 6 ry-: . „ - C ' ,^'vij;: . A. ::2i ,•2)," ;'.8 \'3 5.03; 5.6 -.3 5 6 6 8 3 'Wanganui' :• „ •; i "45,850' ■ li;40i' •' .' 6 nil. ' f) '' 1 " X ' TRANSPORT. - ' 1 . . 1 W. it M. Railway - 170,031 121.451 '.li'-WTS 't'9'. : C'6» .*,"2.5 0 2 3; 6 3 3 9 .'■•'■K.Z. Shipping - -473311 113,751 8 nil. 6 Union Steam: . - • '800,001 172,50! , 1 nil. 71 1 13 9 1 15 0 ' ' AVgtn; Steam Ferry 4ii,2JJ • Ii5 1- - nd. .. ' 6 ■ . V"" : .;. COAIi. ■■ Westport - . j £80,003 117,215 S5 11 135 7 8 0 7 8 0 6 0 0 *aupii-i - : s 12,MJ ..' 6,333-, .1, «mi.:' ; 1i ■ - •. 10 0 . wooli/EN. r''.-C-Y Kalapol-- - . 100,003- K,831' ■ '5 nlL 6 ■ > - ' ' - .' : -ilOBgiol - '• 63,431 17,2U 8i li 4.. ',3 10 ■ -■ : Wellington - - - : t3,00j H.30J „ , i. 1 . 6 3 6 0 : -3 6 0.- 7 [ 0 JllSCilLLANEOUl . . DonaghyRope - '. 47,033 — 5 - nil,., 6 0,0 . Leylanili-O'Briaj 15.0JJ 37,761 * ■ 1 .• •.ml-'' '15 '- 2 4 0 2 5 0 6 3 0 , liauricovilleldmj ... .7,000 . i05 • .1 ...nil : 8 :/'lS.Z. Cacdla '■> 30.00J' — ■ -'10'. 'nil:'', —i V •' A'SiQ K.Z.Drugs £00,003..'• E4.5U '. -.yT.i ■->tia 11'--0 ;t"E13 6 211 '0 - 6. 3 0 ■ K.'Z.PaporMills ■; 11T1/ ' , . nil, . : , n 1, ' 3,;3\ ,: 1. 3 9 ." 1'.3 '3 : 6 D 5 N.Z.Cemeni- ' • " 4U,l*)J. ' ' '2,741 , ',''1.. -IniX '— : itvi'u'.fi 1' . 112 '6"' Manning & Co..',.Q6,0QJ . , S7,Grj ..-4' ■; 1 ' -30 V . ,i'J', - ' / ,.■ • Ward&Co.>V'bO.UU,-' ,bO,t>55 ■ : • ' "4' '30 • " ' ""Yw 0 : f''V ' ' Wgtn.OperaHou3i .'Ib'.&SO,, "'r 1,705-.' . -: ; 5 ,-inil / - 8'- ■ i.'i• ' i - \Vi!ln Fresh Food ... — 1' ml - riii.- ■ . . Whiteombo Ic Tombs- 4B.-JJJ: • ■ U153., • . S: ml 10 '■ 11 8 7 ,8liarland t '3jimitel':., 4t,6'i'o. : , ,, f all: • -1 i'ii ,.i - 0 13 6: 0 10 3; 8 4 4-

t-noso ruling last weot;: — . ■ . Variations ' _ Pri™ compared • lrlC0 , • with ■ ■ last weokl ' > • v £ s. d. 84% Imperial Consols... ... 87 7 0 1 Unchanged 4" „ N.B.W.1903 Jan.-July ... 1J0 0 0 Unchanged •:3i,-.N.B.W. 191B Mar-Sept ... -5910 0'.' .-Unchanged 3 „ N.S.W. 1935ApI.-Ocfc. . .. 93 0 0 " Unchanged 4 „ Vic. 1940 Jan.-July... ... 304 0 0 Urichancod 3j „ Vic. 1921-6 Jan.-July ... 101 0 0, ; Unchanged i 3 „ Vic. 1929-49 Jan.-July ... 89 10. 0 ' Unchanged 3j „ S.A. 1916Jan.-July ... 300 0 0' .Unchanged' 3 t t B.A. 2916 Jan.-July ... £8 0, 0 Unchanged i „ QTdl921-30Jan.-July ... 307 0 0 Unchanged 3h,, Q'l r dl921-30Jftn.-July ... 100 0 0 Unchanged 3 „ Q'l'dl92247Jan.July ... f.0 0 0 Unchanged 4 „ N.Z. 1930 May-Nov. ... 109 0 0 Unchanged 3J „N.Z. 1940 Jan.-July ... 103 o 0 Unchanged 3 „ N.Z. 1940 Jan.-July ... CO 5 0 Unchanged 34 „ W. A. 1920-35 May-Nov 58 10 0 Unchanged 3 „ "W,A.2915-36May-Nov ... 88 0 0 Unchanged 84 Tas. 1920-40 Jan.-July ;.. 9915 0 Unchanged 8 „ Tas.l920-40Jan.-July ... 69 0 0 Unchanged