FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 138, 5 March 1908, Page 10

FINANCE AND COMMERCE.

WELLINGTON SHARE LIST. ■■y! . . .

THE SHARE MARKET.' ... Yesterday 'was' /another:, dull /day for'.the | sharebrokers, for : there was again an entire absence of business in the investment market. • Tho quotations show no material change, except for Mariawuta Rails,'.which are a shade • .7;;'-. higher,' and for Union Steam, which >show?aii advancing tendency. Por . bank' "shares ithe quotations were—New Zealand, buyers JE9 12s;, sellers *S9 155.; National, buyers, £5 6s. 6d.; sellers £5 7s. Cel. . Financial shares wero .steady.- New ; Zealaiul and River Plate, buy-'; ; V ers; ,30s. !jd., sellers 31s.\Gd;. . loan and Merv cantile, buyers :'ss., f sellers'' -Ss'/, Gd.;'. National .. Mortgage,' sellers Gss:r'Wellington rlliyektinent; sellers; 12s 3d., ■ and.;Wellington'Deposit, : 99.; >93.,' • Insurance' were unaltered,/ with'.sellers' ■ of Nationals .at42Bs/3d.,:'and;:New'.Z.ealands j; at £$■ lGs. Therevtrere ,buye'rs;df.ihe'riew .shares, of the South British at. £2 12s,' (id;. Gas shares were quieti, Gisborne Gas, shares were .wanted : at 42 9s. 6d.', ;,and Wellington:. Gas, v. up, were on / sale - at •' 355. ■. .-Meat 'shares *; : were neglected. >~The, third issue,"' Wellington; Meat Export shares .were-on' sale; at'. 'JS3 ss. Gd. Thero. werejbuyers,.of. Jlanawatu Rails, at _'445'.. ■ ■ 9d., and forAUnio'n,;Steani buyers bid "345, ;9d.V ••'•f and -sellers':/wanted. 355...3d:X Other Quotations were—WellingtonWoollens, buyers; G35,.; ■ lers G7s.; Taupiri Coal, sellers 215.; Westp'or.t. Coal, sellers;,£7i Ss.; Westport-Stocktori'f ,C'Q'ai;i :.: sellers 10s.;-Leyland-O'Brien Timber,'s sellers' 445.' Gd.; Nev/ Zealand Drugs, buyers' 515., sellers 535.; New Zealand Paper . Mills, sellers" 235. 9d. , , TIIE MINING' MARKET. / CiExcept for a transfer of '" Tairua • Broken'! ■ Hills at 3s 10d., : there was nothing doing in , this market.' Sellers of both Talismans and • Waihis made, slight concessions' in their quota- .. tions, without' attracting business.' ' The' buy-' u " ing and selling prices .' reported '.yesterday were' as.: under.:—//.'i;,.;:-;,-,,/... :; ,vV ; . . Buyers:,. Sellers... Sales.. v - ,-/ ;■<: ' ■■■}'.. "v.: £ . s. ■ d.. ]£ s. d. >£ s. d. Talisman-', ;"V. * 2 13 02 13'.'G '* — ' Waihi .... ... •... 8 IS 6 9 1 0 —- Tairua Broken Hills • 0 3 9 0' 4 0 0 3 10 N.Z. Crown ... ... — 0 7 2 — Big River ... 0 It 0 — — Con. Goldfields .n-r .; .: 0 17 ; ; G '- Ngatiawa ... ... ... —.013 — - . AUSTRALASIAN WOOL. ( •. The statistics, of Australasian wool, as com- . ■ piled by Messrs. Helmuth, Schwartze and Co. ..are very interesting. With respect to imports and deliveries last year, and stocks on l Decernber 31, compared with the figures for the .nine -previous- .years, they yield a considerable amount .; of information. The figures are as under:— ' . -■ Imports. Deliveries. Stocks. / Year. " Bales. Bales. Bales. 1907 ... ... 2,190,000 2,173,000 82,000 1906 ... ... 1,750,000 1,759,000 ■ 65,000 1905 ... ... 1,603,000 1,687,000 74,000-' l' • " .-1901 .i. ... 1,423,000 "1,42G,000 68,000 ' ' : . 1903 ...■ ... 1,442,000 1,130,000 71,000 : .1902 ... ... 1,654,000 1,719,000 59,000 '. -. 1901 ... ... .1,719,000 '1,851,000 124,000 " " '1900 ... 1,437,000 1,256,000 :. 256,000 ' /1833 .../1,662,000 '. 1,672,000 75.000' " - 1593 ... ... 1,679,000 1,656,000 85,000 : .'he stocks at the close, of the year," though greater . / were much/smaller than in 1900 and 1901, the ; years.. succeeding the boom: period for wool. '•.; If the • demand...sfackens- now,,.as : seems ,•likely; • there will-be'; a great accumulation " of stocks, at the close of the current year. UNION BANK OF..AUSTRALIA. At. the.'half-yearly r meeting of "shareholders of the Union >J3ank of .Australia'.held "in London /on January 20, the .Chairman,(Mr; Arthur Flower) said '.-that', there •"were' now; 'indications' of more prosperous employment of the bank resources, "and, since the. last meeting, three new branches,-,had been:.opened.'-. There-had teen a scarcity.of rain in Australia, and con- • ; siderable anxiety . was felt on that account, but/now matters had improved, and present ■ indications promise<l well both ns to pastoral . and mercantile interests. : A slight decrease was. expected in the and, tho price had fallen,''btit.' conside'Hrig' what tho. old- price was,' and "the, monetary stringency,./.that was no matter ..for :'.siirpr'ise. ; With.,easier money and. a continuance of the , demand for wool, .some improvement in present values might be expected in the near future. As ; regards wheat, while tho harvest was largely in excess df-'wh'at" had at one'.time'.' , been looked for, it, was'not'expected to'.exceed two-thirds ; of the previous year's .yield.' The y most satisfactory, result ,of.; the Jialf-year's op- >. erationsjof: the'.bank was'that :whoreas',for. tu<?-' • last two ; half-years, stress, 1 had ~ been" laid , by-. - them on'recoveries, on; account-of .debts prCviously' provided,for, on, this, occasion - the -results were practically, cohfinedi't'o .the ordinary: half-yearly: - profits of the bank. Under these circumstances; the shareholders were to be congratulated on tho excellent results. ■'-'■".V; NATAL COAL. ■ The coal output in Natal, which in 1889 , amounted .to 20,000. tons; has increased steadily year by year, with the exception of two years of the war, until for-1907. it . reached 1,600,000 ' -tons.. Whereas ini'l9o3 the: shipping at ban • took on board *274,000 tons of bunker coal . only, in. 1906 this amount had' increased to .- <87,000 tons... Tho' output for export 'in 1903 • was a .matter' of :only 7700 tons; this figure .'had increased in-1906-to-216,000 tons. The ' total;bunker and export coal shipped in Durban.in 1907.was I,ooo,ooo'tons. 1 The • railways are now. usingiNatal-.ci»l/)uid,'-see:'' • ing that as much as 40s. per ton is being paid at presont for coal delivered in tho River Plate, and that Natal can compete at a re- ; duction of 10s. upon such a figure, it is contnndtd' that the outlook for the industry in thin direction is more than hopeful. : OUTLOOK FOR .GOITER.,.. . Messrs. James Lewis and Son, in their rcView'cf. the copper market, state with respect to the outlook that consumption during:-1308 ; will fall off-in: the' United. States materially' duiing tho earlier months, in consequence of the ncent financial troubles and resulting depression,of trade, though, later on, if money becomes cheapr-as is probable—there may : be , a rtneiial .or activity Jli. electrical! and' rail-' rr-ad construction vGef'nlany 'is likely to'absorb less copper this year than last, and in England thu!,i may . be some falling off due to the scarcitj of shipbuilding orders, but the demand for •electric; .power is i greatly . extending aril more copper than usual will'be required for the manufacture of sulphate. If th" p-e----sunt policy, of the. Amalgamated" Company ; in restricting the production of the mines controlled by them to about one-third of the

(normal output.should be'persisted in,for further'three months,' a scarcity of copper in tho United States may be expected—to be followed t» a considerable advance in prices. The s'uplus stock accumulated in the United "States iriist now be nearly all either export-!J or sole to home consumers, and, tho 'deficiency Mi the productfon,: \nll ■ mor_b th'nri - counterbalance the falling, off in consumption. :The Amalgamated Company will naturally wish to bring'about a -higher range; of prices to . compensate them for ihe loss 'entailed by !hi> ' closing"down'*df-''thelarger portion of "their mines;and refining works. - '. - ' -IMPROVEMENT IN TIIE LEATHER ' TRADE. , . . .Latest- mail' reports ■; 'are ito .thi .effect v.that tliore- has .been, much more - "lte :in the leather, trade than was expected would ,be.,; ; the . case,-at-- the close of .'.the'..year. , The .financial crisis in, America .hail' . a; very .good' tffpet; en.:the; leather trade,•■as :it" compelled the] holders of hides, to find a market for tlieir ra.v ;-.material. J . >inv. very cuii:siderable.'6ales.'of hides, which buffered a 'frill, '.of-30 to 50, pei*., cent-. ■ during-' the'-'past few -weeks, aud, put .tanneijs generally • in'-a very, healthv position ' again. For some time they "had beeii forking, Sit;the.-best, at a nominal profit, but ."the; whole'stra'dei" was rhow ill a healthier position altogether. Boot and shoe manufacturers rhad. been .yei-y .fairly busy, and a large amount of leather hau been cut up. 1 What the effect of this condition of things near future .-would be it was..impossible" to tell.'. Oil' tho" one. hand iwwasj stated-.'that the boot nnd shoe makers-in'. -Ataerich had ceased manufacturing -foi a while, which would throw a lot Mi'leather on. this market; on- ihe o'her ham!, if it, was only, temporary,, and they re-, ..sumed. making-.: boots >'and' shoes, again soon,.' it '-wiM!ld , '''dlMorb'.' v th%'l'St(K!ks :of leather, and as American'-tanners'had ceased'putting hides •in loi...soma, time, there might be a shortage. It wculcf. ber-necessary;to wait till ifter .the-: Nei. Year before; the position " definitely developed one way ;or the other.. ' CHEAP ACCIDENT INSURANCE. VThe! Salvation ; Arky in Great: Britain has secured the 'cheapest accident insurance yet known. . The - guarantors are the Empire Guarantee and Insurance Corporation of Glasgow, and regular purchasers of the "War Cry" ■atia'penny a .week secure the. following benefits: —In the event -of death by accident of any kind, whatever, there will be paid ,£lO in cash, while if there should be a widow she gets 40s. a week for tho coup.onholdcr 'himself■ lose hand, foot, or eye, he gets .£'so, v/hilo the loss of any'two out of his .half-dozen -would -yield' him .£IOO. The age limit runs, from 12 to 70, and only fifteen consecutive coupons need be produced in-case of accident. , The "Financial Times" says:'— ' It , seems : tolisj'that this is the cheapest ,thing . in accident insurance to be had anywhere, / especially as ; ill-health or infirmity is no .bar to thti contract, and tho number of married, men of all clashes who subscribe for the paper should raoidlv increase?' Last year ■eight-claims.,woro paid, entailing* a liability of about X850,„:.if. ,l;(io_ ;.\?idows had taken the weekly payments instead 'of a , smaller • sum ' , 'noveL"insu'rance SCHEMES. V »To insure:-,against ..the risk of an outbreak of war is no,npv«lty>-,a'nd when the. last mail delivered left London underwriters we're'".busy covering the , betweeii the. .Unite!l States'and. Japaii; But. new insurance schemes are cdevelaping in parts of the world. In England, for instance, it is, possible for a chemist to insure"'liiffiself ngitiiist costs-he may have to pay through a prescription being wrongly compounded!' *A property owner may. now cover a : .possiblo..loss arising through injury done to a tenant owing to faulty conr.uctiom , .ofv-h is ■ ..house. [ FIRE BRIGADES' UPKEEP. There is, a movement in Victoria to compel the fire insurance companies" to increase their contribution .'towards; ;the' upkeep of the fire brigade's.- At • present the>Government, municipalitios, and insurance- companies each con'tvibntip.; one-third, 4 . 1 "arid', the idea of certain municipal councillors is ■ that the companies who save most through the keeping down of fires "should be-made to find half of the cost It does not appear to have dawned upon those 'desiring'thej-'chabge that, after aji;- the companies are'merely the medium through which the insuring public pays. As the 7 ' Argus" rightly; points.-out, '.' whether there, he 400 or .4000.-..fircs,.in.xa>.yeari. the. insurance companies aim : at, making a; gken' profit, and fix- their premiums inraccordance with actuarial' calcu1/itionf:' as. ,tq;. th?.; pjrobable risk., It is con-ceivable-that an ooasional fire, providing it is riot disastrous, roav be welcomed by in. suraric-i • cqinpauiM..., The event gives an impetus'to 1, business, and'alarms careless people into taking,.out pojicie? with the result that insurances' 'increase.''To the community, on the other hand, every big fire means dead loss, and therefore the community should in equity bear its share of . the upkeep of the brigade's that tend to diminish fires. . . . RHODESIAN; GOLD OUTPUT. The gold output of Rhodesia is steadily expanding,' and the viejd of last year totalled 612,053 ounces, and was considerably better •than that- of 1906. The yields for the past five years compare as under:— " ''ISSSWESv" •• '••• ' Ounces. 1 , ' 1903 ..... ... 231,872 »"} . . " - ' ...■ 267,715 ' . 1% a - 407,048 . 1906 "...561,895, 1907 . ... . 012,053 An;l Rhodesia produces other" minerals, for during the month of December lust there was produced 12,5380z. silver,' 72" tons lead 80-52 tons -coal, -3 -tonsicopper,. 6 tons 'wolframite,* 2S0 L f6ns'chr6me'or?, and i tone ichellite. , • TALISMAN,, CONSOLIDATED. THE'WELLINGTON COMMITTEE'S VIEWS. Dr. Newman, the chairman of the Wellington - Committee ,;:of • - Talisman. . Consolidated shareholders,,.expresses. surprise at the communication made'to" the press of tho Dominion by tho chairman of tho "Auckland Stock Exchange, arid published in yesterday's issue. .The Wellington Committee considered, so - far as any arrangement 'with the Auckland 'Comrilittee was concerned,-it wns cancelled by that committee definitely refusing to co-o'perato with the Wellington and southern shareholders in nominating Mr. Auld for the vacancy created last December. Auckland , was unofficially

and confidentially ' notified in January last, that the Wellington -Committee was anxiouß that the Auckland Committee should not support Mr. Cordner-James, a member of the old regime, who was suggested as a candidate, until receipt by Wellington of full particulars. by letter of certain information cabled from London. The Auckland Committee did not wait, but decided to support Mr. CordnerJames, unless, good cause was shown to'the contrary. The Wellington Committee then decided to support Mr. Wilson, who, says Dr. Newman, would undoubtedly be an independent director. Information received yesterday morning from London is considered to more than confirm the wisdom of tho Wellington Committee's'action, and the necessity for Mr. Wilson's appointment. Dr. Newman, Messrs. Ivnight and. Weston leave this morning to attend tho meeting of shareholders called by the Auckland Committee for .Friday. MINING NEWS. (lIT TELEGRAPH—PRESS ABBOCIATION.J WEStroitT, March 4. . The coal output for February of the Westport Coal Company was 48,752 tons 7 cwt. ; Seddonville State Colliery, 4235 tons 2 cwt. WOOL, HIDES, ETC. Swainson and Bevan, Ltd.. report on their sale of wool, skin, and hides, yesterday, as follows: —Wo offered a fairly large catalogue, competition being keen, and prices higher than those realised at our last sales. .WoolPieces, ljd. to -Id.; bellies, 2Jd.; dead, 3d. to 3jd.'; fleece, 4Jd. to 5d., Hides'.—Calfskins, sound, 4d.; cut and slip, id.; cow, sound, 4d. to 4Jd.j ox, 4jd., sd. to GJd"; bull, ljd.\.Sheepskins.—Dead, 2jd.; pelts, damp, Is. .Gd. to Is. Sd. each;.lambs, 2Jd. to 45d.; lambs, dead, Id.; pelts, 3Jd. to 33d.; pelts, bare, 4d. each; pelts, salted, Is; Gd., Is. 9d. to Is. lid. each; lambs' pelts,- salted, Is. 2d. Tallow.—ln casks, 21s. per cwt. Fat.—ln tins, 18s. per cwt. Sundries.— Horns, Ss.. per. hundred; glue, piece, Is. 6d. per cwt. LIVE STOCK MARKETS/. , Messrs. Abraham arid Williams, Ltd., report on their' Masterton stock sale, held yesterday, as follows;— More stock came forward, than was advertised, and we have to report a slightly, better demand for sheep. Competition at auction was fairly 'animated, and lis the majority of vendors, owing to iires and shortage of feed, had placed reasonable reserves 011 their stock, we had no difficulty in placing the whole of the catalogue, with the exception of a few odd lots of rams: Prices were slightly in advance of our last sale.. All cattle, with the exception of one pen .of steers; met with a ready sale.. , Prices wore, however, in favour of buyers.. We quote:— > .. Sheep;— Fat and forward ewes,- 10s. to 10s. Gd.; store ewes,\Gs. sd. 'to os.' Sd.; breeding ewes, sound month, 6s. to 10s.; cull ewes, 2s. 9d. to 3s. Gd.; lambs, best, 9s. to 10s.; others, ss. to Gs. Gd.; cull lambs, 2s. 7d. to 36. Id.; wethers, 10s. Gd. to lis. Cattle.—l''at - and forward cows, £3 lis. to cows and calves, .£2 25.; store cows,. £2 Is. to £2'las.; three and four-year-old steers, ,£1 to £1, lGs.; two-year-old steers, <£2 to .£2 145.; empty heifers, 275. Gd. to 375. Gd. Pigs.—Weaners, Gs. to 7s. Horses.—Hacks, £5 to £12 10s.

Messrs. Dalgety and Co., Ltd., roport having held a most successful salo of stock at Ot aki yesterday. This was their opening sale, having lately acquired a half-interest in Messrs. Abraham and Williams's yards. The whole yarding of 2300 sheep, except oiie pen of aged ewes, was disposed of at the:following rates:— 2-tooth forward wethers, 145.; inferior wethers, to lis. 9d.; forward - ewes, 10s. lOd.; aged ewes, ss. to 6s. 6d.; 4-tooth to f.f.m. ewes, 9s. 6d.; inferior 2-tooth ewes, 9s.' 7d.; store .lambs, 6s. 9d.; inferior lambs, 3s. 2d. (BY TELEGRAPH. —PRESS ASSOCIATION.) • Citr.iSTCHURCU,' March i. The yarding of stock at Addington yards today was fair, and competition was rather keen. In the fat ■ cattle pens there 1 was a yarding of : 269 head of mixed quality, but the.demand was.uneven.' Very little prime beef was sent forward, and the prices obtained were ju6t about equal to last week's. Quotations:—Prime , steer beef made from 20s.' to 265.; medium, 17s. 6d. to 19s. Gd.; and cow, 14s. to'i7s. Steers "realised from £5 17s.' r 6d; ; to Xll 2s. Gd.; heifers, JEt 10s. to 17s.' 6d.; and cows, ~£4 to JE6 17s. 6d. : Two extra good cows made J2B 7s. Gd..and ;68 15s. respectively. The yarding of fat lambs was rather'smaller than at recent markets, and the general quality ' was indifferent. Prices were about the same as those ruling last week, and nearly all lines were disposed of. Graziers competed freely for unfinished lines, the improved demand for tliiß class being in consequence of better prospects for. winter feed. For fat lines export- buyers and butchers competed freely. The rape and unfinished lambs made 10s. to ,125.; ordinary freezers, 12s. Gd. to 155.; and tegs, 15s. 6d. to 18s. 7d., tho latter, price being paid foi-, a particularly fine draft.: Entries, in the store-sheep pens were "again largo,' consisting principally of ewes, ninny of ; which 'were; in- rather low condition. There was a good attendance of buyers, including representatives from outside districts. Thanks to the improved outlpok for feed in consequence of the rain, the'market - showed a sharp rise in many cases, amounting from 2s. to 2s. 6d. per head, as compared with prices ruling recently, and few lines were passed at auction. The sheep, on the .whole, did not look so well as usual, but condition did' not prevent/buyersfrom operating freely, and the tone'.of the market was incomparably more healthy. than it has been for quite a, long time. There was a small entry of fat pigs, and a good demand,, prices showing an improvement. .Choppers made from <£3 lOs.-'to <£5; ordinary baconers, 50s, to '605.; and heavy, to' 705.,' equal to"sd." , per lb. Heavy porkers made up to 475., and ordinary weights, 35?. to 405., equal from 5Jd. to 5Jd. per lb. Large, stores made from 255. to 335.;' medium, 20s. to 245. 6d.; and small, Bs. tp 12s. The yarding of fat sheep was smaller ?i n V ' a ' l< l prices remained practi-cally'-unaltered since the previous sale; The competition was largely confined to butchers, 09 export buyers 'iverc , operating sparingly. Prime wothevs-made, from 17s. to 225.; lighter, 13s. 7d.\to 16s. " 6d.; merino wethers, 13s. Id. to 14s. lid.; prime ewes, ,14s. 6d. to 17s. 6d.j extra, to 19?. 7d.; medium, 12s. to 13s. 3d. * aged and..light weight, Bs,"9d. 'to lis.. Store cattle were ./not ;in. great 'demand. Yearlings made 15s. to 175.; 18-months,' 255; to 285.; 2-year-old steers, £2 2s. 6d.'; 2-year-old heifers <£1 18s.; 3-year steers, ,£4 17s. Gd.; heifers, F G3 2s. Gd.; dry cows, 1.-s. Gd. to t £Tj ss. Dairy cows made up,to £7 12s. 6d. -'

(by telegraph.—rnsss association.) . , , Du.vedi.n-. March 4. ; 'At Bnrnside stock market 317G sheep-were penned, a' heavy : yarding , of. fair quality. I rices showed a decline of Is. per head in wethers, and 2s. per head in ewes. Best . wethers, IG&.-to 18s.; extra, to .CI; medium to good,' 14s. to. 155.; best owes, 13s. to 155.; extra, to lis. ,6d.; medium and good, lis. to 12s. Gd. Lambs, 1175 penned, a fair yarding. Prices were on a par with those of last week. Store lambs, however, showed an advance of 1? per head. . Best lambs, 15s. Gd. to 16s. 6d.; extra to 17s. 6d.; stores, 12s. to 15s. Pigs, 130 yarded a thin yarding of porkers and baconers. Prices were much on a par with those of last week. Small pigs also met with firm sale. Suckers, 13s. 6d. to 15s. 6d.; slips, 16s to 18s. 6d.; stores, 235. to 285.; porkers, 355. to 435.; baconers, 455. to 485.; heavv baconers 535. to 655.; choppers, ' lip ' to 705." : Cattle 262 varded. wero slightly in advance' of last weeks, prime sorts• ranging medium; £7 10s. to. 155.; light and cow beef, <£5 to ,£7. ' OTEKAIKE ' SALE. , i (BT TEI.EOHAPH— SPECIAL CORRESPONDENT.) CnniSTCHURCK, March 4. The special correspondent of the "Press" at ! the Oteka!ke sale reports that the rain made a: difference of several shillings per head to the price' realised by the sheep yesterday. Nineteen, thousand were disposed of during tho day, all but one lot being halfbred ewes, ranging in ago from two-tooth to full-mouth, principally Eomney merino cross, and wore all bred on Otekaike. Tho young sheep were on tho light side, tho two past years having been against them, but tho older owes were an excellent'lot, with better frames than tho young sheep, and Very even, showing that tho flock has been well culled and kept up to a good standard. There wns excellent competition for the sheep, and most of them remain in the immediato neighbourhood, or go just over the Waitaki, arid a few lots to the south of Oamaru. Some Southland buyers were present, but the prices were too high for-them. Several of the Otekaike settlers were purchasers, including Mr. Jardine, the late manager, who was among those granted a holding without ballot. Ho was one of the principal buyers, taking 3000 head. Some of the prices were as follow-.—3203 two-tooth halfbred owes, , 17s. 2d.; 250 four-tooth throc-quarter-brcdi 18s. 2d.; 1453, at 18s.; 700 fourtooth halfbred, 21s. 2d.; 400 six-tooth halfbred, 225.; 500, at 21s. 9d.; 1256, at 21s. Gd.; 1000 eight-tooth halfbred, 15s. 6d.; 1013, at 15s. Id.; 4550, at 155., in lots of 200 to 2000; 1105 full-mouth halfbreds, lis. 9d.; 1000, at lis. 6d.; 816 small tvro-tooth halfVieds, 13s. 3d.

dunedin grain market. (BI TELEGrtAriI-—I'ItESS ASSOCIATION.) Dunedin, March 4. The wheat Reason is now fairly on, and millers are operating at slightly above late rates. Local prices exceed those ruling in Canterbury, and consequently there is not much inquiry from JJie North Island. Primo nulling tnscan and velvet is quoted at, from •Is. 4d. to Js. 5d.; medium, 4s. 3d. to 4s. 4d. Fowl wheat is scarce, and milling is being purchased instead, at from 4s. 2d. to 4s. Id.; broken or damaged, 4s. to 4s. Id. There is good inquiry from the North for oats, and the bulk coming forward is going direct to the North Island. Local merchants are operating sparingly, and are expecting to see lower prices when the Southland crop is harvested. Prime milling is going at, from 2s. 3d. to 2s. 4d.; good to best feed, 2s. 2d. to 2s. 3d.; medium. 2s. to 2s. 2d. ■ AUSTRALIAN, PRODUCE MARKETS. BT TELEGRAPH—PRESS ASSOCIATION—COPYRIGHT Sydney, March 4. . Wheat.—Milling, 4s. 5Sd. to is. 6d.; chick, 4s. 4d. to 4s. sd. Flour.—;£ 9 15s. Id. Oats.—Algerian milling, 3s. Id. to 3s. 2d.; white,- 3s. Barley.—Cape, : 4s. 2d. to 45.: 6d.; maize, old, 4s. Gd.; new, 4s. 3d.. Bran, £5 12s. Gd. Pollard. £7 2s. Gd. Potatoes, Tasmanian, .£5 to .£5 10s. Onions, Victorian, ,£fi. Butter, 107s. Cheese, 6d. to Bd. Bacon, 9d. to lUd. " . Melbourne, March 4. . Wheat, 4s. 4d. to 4s. 4id. Flour, .£lO. Oats, algerian feeding, 2s. 10d."; milling, 3s. Barley, Cape, 4s. Maize, 45... to Ss. Id. Bran, lUd. Pollard, lod. Potatoes, 'JC3' to" <£4. Onions, \£3 10s. , Adelaide, March .4. : Wheat, 4s. 2d. Flour. £9. Bran 1 and pollard, 13Jd. Oats, algerian, Bs. THE METAL MARKETS. BY TELEGRAPH —PRESS ASSOCIATION—COPYRIGHT. ; . London, March 3. Copper.—On snot,. ,£57-.55.; three months, £57 15s.j. "supplies, 31,845 tons; deliveries, 31,732; in stock, 20,773; afloat, 3000. Till.—On spot, <£123 55.; three months, ,£127 10s.; in stock, 15,2-47 tons: on spot; 518 D; afloat, 5424. ' • ■ . ■ . Lead, .£l3 17s. Gd. LONDON PRODUCE MARKETS. BY TELEGRAPH—PRESS ASSOCIATION—COPYRIGHT. > • London, March 3. Tallow.—ln stock, 15,860 casks; imports, 5580; deliveries, -4575. J Wheat.—Market very firm; price, Is. Gd. higher on the, week; 375. 6d. was refused for a South Australian February-March-shipment. Tho butter trade lias resumed normal conditions, prices being llGs., 118s., and 120s. " STOCKS AND SHARES. BY TELEGRAPH—PRESS ASSOCIATION—COPYRIGHT. London, March 3. Two and a half per cent. Imperial' Consols are ss. higher at ,£87,125. Gd. y. Australian and New Zealand Mortgage, 4J per cent, debentures, .£96 10s. METEOROLOGICAL. ■ — < — WEATHER AT 5 P.M. ' Manukau Heads.—Calm; barometer, 30.00; 85. Overcast; bar smooth. New Plymouth—North, light; barometer, 29.93; thermometer, 71. Overcast; sea moderate. ' ; Castlepoint.—N.W;, breeze; barometer, 29.95; thermometer, 67. Cloudy; sea moderate. Wellington.—South,-'light; barometer, 29.95; thermometer, 64. Gloomy. Wcstport.—N.E., light; barometer, 29.84; thorraometer, 71.. ( Drizzling; sea . moderate swell.

'• Kaikoura.—S.W., breeze;. barometer, ,29.97; thermometer, 63. Rain; sea smooth. . . Bluff.—S.E., light j barometer, 30.01; thermometer, 55. ITine. - ' ' WEATHER FORECAST TO 5 P.M. MARCH 5. Strong winds to gale from _;the northward at places northward of Wanganui and Napier, find from the eastward elsewhere. Rain is probable northward of, Qucenstown and Nugget Point. . . -V,. R.A.EDWIN. : March I, 1908. •• ;/!:■ ■ ). MAIL NOTICES. Subject to necessary alterations,: mails will closo at the Chief Post Office, as under:— THIS DAY. : New Plymouth and Auckland, per Manawatu train, 6.30 a.m. : Blenheim' and Picton, per Blenheim, 11.20 a.m. Blenheim and Picton, per Opawa, 2.20 p.m. : : Nelson, per Tasman, .4.20 p.m. New Plymouth, per Corinna,* 11.20. a.m: Picton, Blonheim,- and Nelson, per Penguin, 11.50 a.m. Napier, Gisborne, Auckland, and Australian States (duo Sidney, March 13), per Zealandia, 3.20 p.m. ' Southern offices of New Zealand, also Australian States (duo Melbourne, March li),, per Ulimaroa, 3.20 p.m. Greymouth, per Petone, 5 p.m.. Southern offices of New Zealand, per Rotomahana,' 6'p.m. . ; Nelson, per Tc Anau, 7.45 p.m. FRIDAY. MARCH 0. ' ; '. ■Southern offices ' of New' . Zealand, , ppr. Mokoia, 4.20 p.m. . Parcels mail for United Kingdom, per ICaipara, 5 p.m. ' Ceylon, India. China, Straits 'Settlements, South Africa, also Continent of Europe, and United Kingdom, via Naples (due London, April 12), per Marama, 2 p.m. Australian States (duo Sydney, March 10), per Marama, 3 p.m. Nelson and French Pass, per Pateena, 3.50, p.m. Southern offices of New Zealand, also Australian States, to conncct with Wimmera at Bluff, per Maori, 6 p.m. , SATURDAY, MARCH 7. New Plymouth and Auckland, also Australian States, to conncct with Zealandia. at Auckland, per Manawatu train,, 6.30 a.m. / Picton and Blenheim, per Te Anau; ll.jSo a.m. Nelson, Westport, Greymouth, and Hokitika, per Arahura, 7.45 p.m. Southern officcs of New Zealand, per Rotomahana, 7.45 p.m. United Kingdom and Continent of Europe, via Monte Video and Tencriffe (duo London about April 25), per Ifaipara, 3 p.m. (For specially addressed correspondence only.) Extended Notice—Mails for Tonga, Samoa, and Fiji, close at Auckland, per Atua, to-day at 10.45 a.m. The next despatch .for Continent of Europe and United" Kingdom ' will bo via Naples, leaving Wellington, per Marama, on Friday, March G (due London, April 12). The next despatch for Canada and United States of America will bo via Vancouver, leaving Wellington by Manawatu train, Tuesday March 17.' ' Unless .'otherwise specified, registered letters and parcels-post packages must be handed in and money-orders obtained one hour beforotha ordinary mail closes. - .- ' J. A. HUTTON/ " Chief Postmaster. March 5, 1908. BOWLS. TARANAKI TOURNAMENT. (by telegraph.—press association.) ■ / Hawera, March 4. ■ At the Taranaki Bowling Tournament the second round resulted:— Hawora, 49, v. New Plymouth, 45; Opunako, 44, v. Manaia, 39; Elthnm, 49, v. Fitzroy, 39; Pihama, 20, v. Patea, .13; Stratford, a bye. Third round—Hawera, 56, v. Eltham, 25Stratford, 19, v. Pihama, 15; Patea, 38, v. Manaia, 37; Opunake, 42, v. Fitzroy, 34; New Plymouth, a bye. Tho matches against Pihaina aro one-rink games. It was raining this morning, but play is proceeding. Fourth round—Manaia, ! il, v. t'ltzro-, 25Hawera, 47, v. Patea, 36; New fly.nouth, 34* v. Pihama, 13; Stratford,.4o. v. ". itham,'32. Rain at 2 o'clock suspended play. The Taranaki bowling tournament was continued m wet weather, 'and the fifth, round was played in the rain. So far; Hawera is leading with five wins and no losses. The fifth round resulted :-Stral.ford 55, Patea "1 New Plymouth 48, Opunako 15, Hawera 47' Fitzroy, 26, Eltham 23, Pihama 18, and Manaia a bye.

rmrvtw Capital Fundand ■ '&# .W ' ■ FBI0E3. • - ; ■ rh'/l . COMPANY, . 'PaidUp ■ Eaianco •d'D o^ pM .<s,> , r.aRt • to . Forward -f* B Buyer. 1 '- Boiler- c | 0i Investor. ' BANKS. £ '- V i 'i-. ' 'x ' 1 'i' ; ■'i 'l!. a. £ E. a. £S.fl. '■Vtyi Zealand . 5,000,001 ' 181,673 ■ 31' '3$ 10 013 0 915 0 9 13 6 3 9 8 ."'Rational ' - ■'. . S75.000 335.313 si- '-, 15 13 5 6 6 , , 8 ,' 6 5 7 0 5 12 3 INSURANCE. " ■ . „ .„ , National ... -100.000 , -MM39.. •} nnltd. 15 '-.J 8 0 -1 B 3 18 0. [II ... New Zealand . 'i'v- .SOO,OM, V . 396,674 • S 8 10'. :316 0 .,- -.' 'Eouth British:' ; :1C0,030 612,499; .1. nnltd. so: . 515 0- - .''Standard' - . - ■ 75,000 '--87.385 i unltd. 10 13 6 .. : financiatj. - . - .. , ,,. Equitable Building 50,000 45.240 .5* 5 ; . io -10 2 6 . -10- 0 0.'. 5 0 0 Metropolitan Building ,21.003 . 5,229 ]0 • nil . ' 7 ' '. • • '.. Wellington Invest.' - ' 3,933.. 1 1 6 ... 013 3 . 3 5 0 '0 WergtonTrust&Loan 101,250 44,33-1 5 5 '..8 7 8 6 7 10 0 7 9 0 5 7 4 ..'..National Mortgage - £00,000 112,250- . • 2 .- 8 io . '3 5 0 3 5'0 3 5:0 -fi 31 '. K.Z. and River Plate - 300,000- ,25-2,000- .1 ■ nil , 7, "110...9. ' 111 G 110 0 ' 413 4- ■ Loan and Mercantile - -135,221 . 315,133 ' 4 8i 5 0 5 0 0 5 .6- 0' 5 0 10 0 0 - GAS. . - : . Auckland - 1S0.370 .' 931359.' 5 - ' nil IS ,'- : - '• - • . .. Christchurch V."; 152,0X1 "> '-65,087. .. 5 nil 10. : : ;.V- : .Feilding ' " . 10,801 103 - 1' '.-nil' ' ' disborna 1 • ■ .. . 17,303 ' 10.5il . ';r. : nil'. aij 2 0 6 - -- 2 13 0 Hawera , . - '-. . - ■ 8.25'1 - .' - - 745 - j( .i »10 '' j, : New Plymouth -: '*" 18,0!>3 ' '■ 3,159 • 5 nil 10 " ' ' • • ' Kapier - - - . ■) .10 ; nil. 15. - - 1 . . 49.957 r 28,183 5 5 15 . J ' 1 9. . -15 3 7 6 ■ PalmcrstonNorth, ' 1 £7,000' 1W® 41 7 1.' 10 T .7 0 Wellington - ■ .'-7i,yUtl/ '.'-lu'. nil • 10"' ' - •-"1,015-0 19 12 6,. 5 3 0 ■ ■/' „ . . . ' '"4,570 j .5 ■ 5 - ' 10; •. 9 15 0 ,< • ; MEAT.. -'.:V : '-v r "■ : Canterbury . • 183,727..; 50,074 ,. .71 .8, ;;I 1 0. : : Cliristcboroh -' - 163,393 ' - '<7.e41 10 nil. - 8 Gear . 96,'2(>1 1 nil. 14 2 8 6 210 0 8,0.0 .5 1 3 „ .' . -62.000)- .. . .4 .6 ' m Wellington Meat Ew ' i 5 nil. . 8 ■ G12- 6 • „ • 105,765 K-C3,767 --. 4 -8 5 2 0 5 9 0 656 ■ . Y„ ■; ; i ; • .2J," . 8 , 3 ;-q .5 6 3 5- 6 6 8 3 WanBanni / „ ■'.'45350V* '. '-111401'".: -. 5, /Oil. ' 8 -' - - ■ : TRANSPORT. . ' ■ 'W.&M. Railway • 170,003 ' 18U51 ' 1 ' 4 . 7 2 4 9. 2'-5 0. .2,3 6 «'3 9 K.Z. Shipping - . • '473,813 . ' 113.7-11 . 8 nil. .5 ' Union Steam. -- - 800,003 . 47,5JJ .1 . nil. , 111 9 115" 3 ' . ' '-'Wgtn. Steam Ferry ■ . . ,- . 65 .1:' nip' 6 . ' .' ■ ■ 'coaIj. ' 1 -■■ "■ - : •• .Westport - . !£0,001 -117,215. -Si, 11.: 13l .7,4 0 'T: 8 0 7-.8 0 6 0-0 laupiri - : : t-2,50J r ' r - ,; 5.3JJ , i" 1I1I. 1.1.0 -1,0.9, ' , WOOEiLSX. - . Eaiapoi-. . 100,003 .32351 '6 f " M. 6 ' ' , . . liiosgiol- U,4.3r ,--''.17,21J ; r f EJ'- li .4 - - 3 ;'1.:'0"': : : Wellington ..... .. ua.ooj . -,14,3oJ , 1. i,6 3 3 0. 3 7 0 s 6 0 .7-5 6" MISCELLANEOUS. i . '. ' V . : . ' :-Donaghy Hope • 47,003 ' .— 5 nil .. ._ 6 0 0 Leyland&O'Briaa 1:5,033 - 37,761 " 1 .u»r. .15. 2 { 6 . ! 5 0 6 3 0 ilauricevilloljijij '. '. 7,003: " 1 • iOi > 1 . 1H1 (j '; • ' t.Z.Canaio - . • • . 10.0J3 -. - ' -10 ' «!j ' ' ' - ' ' 'V " . K .Z. .100,01)3 • E4,-514. . ' , nil, .7 .. jjj 0. ,E13 0' • 211 0' 6'3~0 -■■ft.Z. Paper AIHI3 ■ 1:4,755 • 11": . I .7 .1 3-3, 1 3 9. . 1 3 3 6 0 5 .Ji.Z.Cemeni-' .- 40.U0J2.V41" : '1. . nil. " 1 j-j' 0' * 112 6 ' llannins&oa.'- - .' r '-93,003:! £7,6M<:: ..4:.,.l . 10 :- Ward & Co. - ' - : .tO.uX)''- ■" iO.655' ' '4-.,.l 10 .' : 4 11 0 ''"'. ■ " Wgtn. Opera H6U35..-:- :lb,b33 >: I.YJj , . .5' -' nil';: 8 .: f.,-. ■' . ; .Wgtn Fresh Fool . * ..>28,201.;.- '}- :- l.. ' '■ ■' Whitcombe & Tombs- : 46,253: : i' 30,151- . 6'. . all.',: 10 ■ - r 4 8 0 ■ il 8 7 ::Bnarland, ljimiie:i . . :.l' 9,311 . 1; :. r nU . ■'/I ' 010 6 '••'o i8 , '-3'-- 8 -4 4