FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 161, 1 April 1908, Page 10

FINANCE AND COMMERCE.

/' '■ ' ; "1< II; 1. 'M j"' L 1 ' - THE • snAEB; MARKET." ' • Another dull day with investment shares was .the experience of brokers yesterday. A fer of Mosgier Woollens at 61s. wis reported, and that was all the business in,' , At fils. tho return on the basis of'the'-last-yivix dend is:XI Us. 9d., from which; it may- be inferred that! investors expect', improved results ■ from the Company 1 this year. ; The buying and selling quotations exhibit no ; changes. . There were buyers of Bank of New Zealand shares at £0 lis., and sellers at .£9 15s. ; National Banks, sellers, ,£5 f7s;, 6d. Building, sellers,- . JBIO 2s. ; .Wellington Dejp'oat, 95. ; 6d, ;yNew [Zealand- 'jS' lls.Y'id";'.' . National; In'suraribe/-'6ellrts,; 2§5,x Njw^eaJPfld. ; Insurance, buyers £3 155., sellers J33"175.; Christ- - church Meat, sellers, ;J£lo lOs.j; Gear, 'Meat, buyers;; 495.-; '.W'ellington l .'Meatilliport, vthird'-| . issue, sellers/ £3 55.-'(Td; ;-"Manawatu' Bails,: ; buyers, 475.; cum dividend;; Wellington-Steam ■ ■ Perry, 15s..paid up, sellers, 14s. 9d.; Welling- ". ton Woolleii-.'buyera.gOs.,.sellers-,,6.35.-;'6d,'.;i;l{a,pri 1 Timber, 15s..paid upVtbuyofsi^Osi* &ylan4'- ; O'Brien sellers, '44i; New^,Zealand', . Portland Cement, sellers, 325.; New Zealand : Paper Mills, sellers, 235..' 3d;; .Ward_and .Com-_ pany Brewery shares, buvers, .£4 12s. 6d.; Taranaki Petroleum, buyers,,ss. 3dv - . , The' course of sales'-dui'ihg'-the pastJmonth -ffas as;under: — Bank of New Zealand,'i;9;i2s.jtoii2s. '.r m ./■ National Bank, £a 7s.' 1 "I . Wellington Trust and Loan, £7 95..6 d., £1 9s. i 6d., £7 9s. 6d.; £1 9s. Gel. i ■ • : Wellington Investment, lis. Gd., lis. 6d. " New Zealand ,aiid Eivbr: Plate, <31s. 631 a New Zealand ISBani and tMorcnntife/'W:,-'4ts- , '• 2d., ss. ,2d., 533u'](i'., 55.,,2 d., 55.,-^s. J National-Insurance, .'2Bs.' t -; ■- ■' ■ v. Gisborbo Gas, 50s ' "" ' ' Christchiirch • Gas,'^Jßlo^ *jeto.~r-' «i , Wellington Gas, ,£l9 lis. Gd. ■ I f Wellington .Meat Export.'.'.tthird," issue),;. *i£3- ' 6s. 3d. . I - Manawatu Rails, 475. cum dividend- •• Mosgiel Woollen, 615.-.-.. I Wellington Woollen,. Gfe:,'63s.'*- I " Taupin Coal, 20s. Gd. - Westport-Stookton Coal, 9s 9d. . — . , Leyland-O'Brien Timber, 445., 445.,3 d., 435.9 d. Ward and Company Brewery,, £pl2sPfid.; l * l ■ Sharland's 18s. 9d. ' • . l -' ' THE MINING MARKET. .l •, ■ There was considerable activity in; this mar- ;• ket/and several sales were .reported.- .The-out--standing feature of: the-market is the strong, upward tendency Jiih'itioh "* shares, which- yesterday;sold* at"3Bs., 6d;-* Sellers, however, at,the cloi,o.were,.willing to.ac. ' . cept, 375;;- ;The'--buying;;and . were x;.; 'I 1;' - ',Buyers.'.'J;Sellers.*Sales.", ' J s d JJsd Xsd , N.Z. Crown .. . 0 7 0 0 7< 1 - Wailiij ■ • ..; ... 9 6 G 9 9 0 - " WaihiGrandJunct'n — 117.0 IJB 6 . Waiotahi ... ... — ' — -Or-8 Big River ... .... 0 It 6 — — Talisman . . 2 12 9 2 13 >6 2 13 0 2 13 3 The course of sales during the month is given y'belbw:— . Wai hi, £9, £9 4s;' 6di;s £9 fagM 55.,-.69 sk. Gd., i£9 Gs., iC9 75., £3 Bs. Gd., JE9 9s. 3.1., ,C 9 7s,- Gd. ; , lalisnian, f LO3s., 525. 9d.; 525: 9d., 525-: 525- ; . •: 525:,?515.-!9a.,' ,53i. Gd.*, ;535. -3d., 535; 3d., 535.; . 635. 3d , " ' \ J 4 . ~ > - ' •••;' Tairuavßroken'-Hills, 3s. 10d tf ;3s. ! lod.i 4s:'. 4s - 4b ( \ ~ ' Wailu-Grand Junction, 30s.j SBs.'GdPactolus; £1 4s. Gd. - - -. • liig Ivivofj ■ 13s. 9d.„-Waiotiilii;;-2s. Bd. . 1 : Waihi|MConsolidated, '■ liid.Ngatiawa^^id/;; " i .. .- .- -i . I ■■ . I aWATU VY :.;•*' The' anniik;6e«^fof*^.'sS&hii"ildeh?o'f t ■ .his: Company at'=noon- 'to-day, when it-; js r jiist" pos"siblo"~some,.further . light nay be.Vthrown" on the negotiations > that' are illeged to for the trarisfer of the . tine to the GoverhnieSt.VThis r-ailway.-property -lias, by' veryidareful-ma-nagenlent, been brought to a 'lt'stan'ds as'aof the businesscommunity; i who •-twfihty-e'ight-.vears-ago -faced: - was, glad -, to ' avoidi* - and t 'the "niagiiiflcen't com- , mercial success of the; concem*:is-a "tYibut6"to" :'the shrewd conservative-, management of Wellington business ' m'in* and'', : . controlled 'ts.affairs: Taking tlie figures' ofthe . .':past six balance-sheets, tho 'fpras.-.trafScTpror- ; ceeds, expenditure, .'and net railw,ay. profit com-. .' pare as under:—- '' '"T r'-V' - .;-■■■ ■ • /Net'^ Gross , Expendi- Railway Traffic; ture. Profit. ■ Feb. 28. .. . • ; ,oiw;„ 1903 111,398 60,129 ' 10.361" - 1001- v - '... 122,182' . ..63,682. ..n;dß6. 1 : 1905 ; ~..; 127,733 »: '72,010 •' . 10,-389-1908'. ...132,460 75,280 11,264 • 1907 , 1-14,64.784,196., ; 11,447 ■ ,1908 -;V% *'ICO,SG(I^ ; ;'-98)10!) Out of the railway .accouiit "is paid the' debenture interest, amounting! to .£34,000, rates and taxes, which last year amounted; ;to,''. t85195;; directors' fees, London office charges, aiulit fees, and sundry; expenses, besides a substantial sum - for: maintenance. . Last year. -appro-. . priated for these purposes.,r'litis~.pech'ips n'o:' exaggeration to say that the Manawatu Railway is as-.well-managed as;ahy .-pX'ivatelj>o.w > ngd. : ' . railway in the'.wprla, sirnilarly^circumstaucbd;; t' WORLD'S RECORD GOLD PRODUCTION. Very fair estimates of gold pro-;' : duetion in 1907; have .been made, and. these- : pliice tho. .valu'e..at"-'jiß2,29o,6o(JJ!ot;'iß-lSl;000:'.in exocss of 1906, which up to that time""held .the "world's record. The iproductionj since .1850, . - may be summarised-as followisi— Tear. :Value., . Year. Value. . ; , ■ jg ; 1850 : ... 11,600,000 >1901■ 52,108,000 v - - 1860 ... 23,850,000 . 1302 ... .59,348,000..-;,. "• 1870 ... 21,370,000 .1903 ... 65,192,000 18S0 ... 22,130,000, 190-i ... 69,378,000 - .1890 ..'. 24,260,000. 1905..... 75;378,000, . -1900 ... 50,915,000 - ■ '''■ 1506';.. '81,8'«,0(10' ; / 1907—J882,293,00#. . • During tho pastj'-Eoventeen '' year's-Hie annual gold production .of _tho lyorld'ihasr. incroafl'ed at an amazing rate, and, except for tho disturbance brought about by,t]ie'South-African ■ war, -there, have been-' 'successive' ' increase's during a quarter of a century, and a remarkable addition-vto the agCTegate during the past eight years. Looking back, orior^to:.lß9fl.;for.

Y'-j .:\g r,- . f>v%;/r ' ' '"thirty years Hhe annual production did not vary much more than five' millions as an •extreme. . Since 1851 .the smallest' yield: was ' reeofdo'd'-itf 1882, , when' tne 'eutput was. valued at ;£20,499,000; the output of 1907 is more than (fourfold that, of, 1882.-,; ■ The question' that "will naturally be asked, "What is done with all 'this ,gold?" cannot bo accurately solved. It 'ii' " estimated . that the consumption of gold in the arts is about •J318,000,000, but there was always consumption in the. arts moro or less pronounced, and .-at;its highest^the-use of this metal does not 'help, to ■'a'ccountj.for'any. but a small' proportion ofvthe--increased" production now stimulating industry, and commerce .the world over. It is pointed, out; by,. an' authority that, as the world'has advanced in, civilisation,'an' increasing','fltftober''of "co'untrips. have taken to ■gold,.in one form or other, as their nationalstandard, I: ;of....value,,.and' that-''there-' is now, Use for gold as a currency';than there formerly was; The one . fapt wo have upon -which . there can •bo no doubt; is..Jfcat the wofld has now four times as' much new "'proyided' ,for it in a yeur as it had a quarter of a ccutury ago. , ; ! '' notes.;'. , , - • Tho annual meeting of shareholders of the Welhngtqii. and Manawatu Railway will bo .Jieidi m iae .Chamber,, of Coinuiorcd at noon to-dav. •• ~ The annual general meeting of the Talis-' man •• Consolidated,■•• Limited- will bo held in Lontloa on Jtroe'3>l6.',i[i.il v." . i» »i>v«t •■.The,.--.London" wool - sales olose to-uiorrjw- , Ctosshred', >'0016, ..have met with bettor competition, and prices : are firmer. ' '.Ml\ ■' > i. _The total tonnage which entered the United' Kingdom in January from abroad with', ctirKoes / ,was-,3,035;400>>tGn5, a; decrease of 1C0,991 tons as compared with. January, 1907, and of ; _tons_- aa compared with January, 190 S. '"'ls sfiowinp; the shipbuilders' are experiencing m selling boats built on. specula•(tacni,, Jtorßjay? states. Oujit a builder on the jNorthrEast .Coast is offering'-a •■■Teady' steamer* or ; _tifver'-7000. ton'J' jat ■ '.£5 2s. 6d. par ton 'deadweiglit. This is 'about the teooiid price for -vesseL-of-tlie-.size.-• •. "4a ! i ei°rl:-ij l)ciiig made , to' amend the Bri.tish JlerahandißKMarks Act, 1857, because the country of origin •s'lVv« a gratuitous ~?W. erase, rn^nt„ *tp, .trade competitors.' It is . , bythe;.more:' general indication, o.f • interwined and 'ttterlaced\si>*W- - tb 'avoid; erasure - of' the word —Wot. wsThe, report-.i.o£-..;Bovril, Ltd;,:ipr"'l§o7 is not very encouraging. The net profits for the year s°. compared witli .£130,301 i ™s also,'loivW .thin in 1905. The sdiTepiprs, attribute the- falling away .in sales. to two factors:—(l)' The hindrance of :.PS9S®Ps, v bl ,-tho Afinancial conditions prevailing at ' tlie" end' of. last year, when - the Company expect to bo busiest; and (2) the inAfrica; " vT VllSlftl?"CONSOLID WED -•The ifolloning letter, dated march 27 hav been received from the Talisman'. Consolidated, •ijimitedrby:, the-.'-secretary Wellington Stock Exchange:— • \ % .fcKTO..Wo_ received cable : advice that thei'annual general meeting .of.-the Limited, will be held'in 1908, The Company also states , that jproxy forms may be ob- ' STOCK,'EXCHANGE. ■ ' ' ,{BTNTELEpEAPH—FKESS ASSOCIATION.) ? d * f Waihi: [i T'Ji tiim STbCK] SALE ■ and Co., Ltd., report on their"PaTlf4tU4' sale held in their yards Pahia;tua, -jon .Tuesdayy?MnTeh 31, as follows:—A ,of ; sheep and a fair ,niimber of cattle : came iorward. Bidding for good qualitv sheMLavas.brisker than of late. Culls hard- to quit, but before the day .was oyor. we managed to. amt nearly, .every.-.,line. Wo ' quote:—Two,l9.°W,.ew',<!3; Ud.; four-tooth to f.f.m. cul l ei> ' es ' tq 5s *. 2d -; twotooth t6 lis.rams, two-t'ooth Eom-neyfi,--to 2Jg.; aged rams, to ,£1 25.; wether Jamb,s, ; to .55.;„ejve,lamb8, to ss. 6d.; cull lambs, ,;2s.',,Jtp'„'S?- Cattle,: ,pows, with calves at fo.ot, £2 7s."j "weanorsV to 12s! j springing heifers, JE3 10s.; heifers, just calved, XI.

_ . .. RAM PAIR. -.- association.) Timaiiiv'March J-'At tho 'annual*.', of the Timaru A. aqd P.n Association-ito-day 1000 ; rams J-ere. penned *:(9ptdgi? Leicesters .429,. English -more' than wore required. The Bordor Leicesters sold ' pretty well, and .also, . two, lots of English (Messrs. , Donald Grant's and E. .Kelland's). The rest wero for'ordinary ..'stud sheep-•were-7g';- forßorderLeicesters, and 51g. for English Leicesters. Three guineas was ■about thof/iyerage 'for good, arid' down' to 2g. for medium.'' A one-shear Border Leicestor ram, imported by Mr. W. D. M'.Farlane„'\ras sold at 72g. to Mr. Roberts, of Teviot Station. " LONDON WOOL SALES. BT TELEGIIArn—PEES3 ASSOCIATION—COrTRIGHT ' " ; 'London,' March 30. .- For crossurcds, competition was 'keener, and prices,, firmer. Merinos are selling well at late rates.,' v .,-V; .. SILVER. ' bt t'eleoraph—PßE63 ASSOCIATION—cop-jniom „ . London, March 30. Silver is'-.puoted.at-26 9-lGd.'-

»- ■ • • " WELLINCTON SHARE. LIST. ■ • '<■ ' Heserr® ■ q^. • Fnndand' pi V V .)•■'. . ' , ,PJtTCF,S, . T]fM \ .COMPm-r ..BilMca 32 ; «• ; 'rbrtfari 'ftii' * 'Hgf "'•Bwr. •' gjj,' . Jnmtor. BANKS. a /' , *A. •* & ■'•*'•>. 3; : £-«. fl.. £ is. A. St. a. - ■ few Zealand « 5.C00.001' ■ h SSl'fTa'' -l\' -- 3 *' " -10- '.-® u 915 0 912 0 3'!).5 National — 375 000' -v535.3H 7 .Si- li • 6-6- 6 b- 7 6. 6 7 0 ■ 513 2 ".Rational ■- > 100,000 -.' fSS' J «nlHl 15 ■ -, • 1-8 0. .. 1.7 3 ; New Zealand . .. J00.003 *-l'i ■ 8 "'10 315 0. . -317 0- ■ SouthBritish . .100,000 , '• 3 , "'■"*> *« 0 ""217,6 . ■ . ; Standard. . . . i-:.-'. 15.000 ' ■ 1 B7 '? 3S .. .Ax. nnltd. jo . .v-I 2 0 • , • FINANCIAL. """" ""' J "" ' •' 1 Egmtable Building , D0,0M T«o ".5 s 30'..n;.. • Jft;' 6 10 0 0 5 0 ® .'Metropolitan Building 4t)»BGi ■ S'K;"',1 7 ' 'Wellington Invests'..-. 50,000 '■ ~ '•] ; • fi. i--..- • 0 H 6 6 4 4 . Wel'GtonTrustifcLoan 101,250 •••,}*«• " 5 5 ' g ' J 0 0 7 10,6 Y.7 9:6 - 57 6 : National Mortsasa' • 500,033 "S , ? 8 j 0 » * O 86Q .631 N.Z. and Biver Plata - .500,000' V ml --7- 111 8, .'111 0 •, 111-6' 4 all .Loan'andMcreantil* • 135,221 315433 4 Hi , Ij 0 5 D 0 5 2 C S O ' lj 0 0 ■■■■■■ Anriland. - . .• 160,370 • HHS" -'5' ni ! ' 15". Christohnrch . - 362,000 Ss ml 10 10 3 \6 10: 0.0 6 0 # Feildins . . . . 10,805 ' ; .'wl s a"7" " ' - GUborno / oJill uj> 3 9 -Oi ■ t a 13 fl . 810 0 5 10 0 1 ,v Hawera , . • . . 8,253 ' . J i : 10 i 1 . , Saw Plymouth . . 18,000 i -.-A. !»*.>». «>30'- ■■■■•■■ ' . k'apier - . v . | io. .--nilijs-, f ;; • • ■ , . 49,057r ,28.1M.. 5 5 K ; ' • • • '' I „ m , ■' ,} ? 15 ' '• ; . . v JfalmerstonNorth . 57,000 ! . ••iMS? -K \ 10-,-K. Wellington-.-71.iM . 10 ml. io ' 19 9 6 19 11 S 5.1 2 ■ . -v ' " . 1,5 . 7U ;. • 5. . S- io ' . - Canterbury.-' J85,rar'i 8. * 8>0 0. . Cbristchorch '■ ■ '' - 163,399 " lu mL ' 8 '1010 -0 ' Bear. ... • . Bi()(x) J S6 ' i£1 ,1. njl. 12i 2 9.0 219 0 . 2 0 0 5 1 3 r WelluigtoiljicatEw . 1 ' _ ® nil,. . . g 612,6." . ' ..' ■: „ „ .' "'105,766 f 13.767 ■ ■ - 4 1, . 8 * ' 5 SO S3 a- g! I ) „ £ | 2J -8 ' ' 3 5 6 3 5 0 ( 9 3 Wangannl ., . . H.40I i -ml. 8 . . : IBASSPORH ■ .....'. , W.&M.Bailway.; - 170,003 ,1-4 7370 > •: S ; .7 O S 'O 0 V';. 'W-Z.Bhipping- ':- r-; 1 . .-'473,810 v'; 8'-r : w •'o "5 r : r . ; 611 0. :. , . DnionStaam - f . BOO,003.. iP&I. R^k.■: ...134 0 '- •■Wetn.BteamForf* I • ;i6,'25JA -if-.-' b ?.. ,, 1., nil. .. ,r( . . „ - , COAIi. v - -• *>--:■ i-.- .«v~ .'■*■■ \Teetport £80,003 ..J17|B . N. li ... . jj| . 6 r l5 r 0:. 7.:i 0 V 7-8 0. . 6 0 0 Soopiri - ......M-H .1; ni!, _ 74, . 1 0 6 1. 0 C I t 6 7 16 WOOEIiBa _ - ! , ' ' - ' Kaiapoi- 100.00J : *'- V . B ' nil.r 6 •- k'. Uosgiel- . ■ 83.457 . , » M 4 ,'3 0 0 3 3 6: , 3 -1 0 ' | ; 1 . Wellmgton . .< 69,004- U8U ■ i -l . ( 3 0 0 3 3 6 -3 f I' -»B 1 MlfiOBLLANEOaa. . ' ' , „ . r , ' \ X)OM«hyEopo ........ 47,003 1 ■■■ JZn-■ '•>? - 2-'6: . i 6 10 0' -i„ •' .. . » ::B5,S0d,. W.™ 1 .--wj 0 ,-lS.- -r 6 -. H t > 3 9 6 17 2 . ...'-Jfanrteorill»iam« 7.003 , 201. ,:1 xu V » - .-. ,- , ' UXCaaila - . - W nil ... ' ■ V ' ) ■■ ' ,v -.. . sms S}. = ..»• !11 0 ■ 212 6' 2ir 0 6'3'0 JfiPaperMills •• M,7m . JJj! • rvw , oil . .7 1 2,9, 13 3 " ' 1 J '3v ( 0 6 -■> HiOement- , 40,00) tib ■; 'i —$■ - 112'*0 112 0 . -v ■- ' ' . ! M«omn|&Oo.> . ■ • 96!003 ;■' a ! ?-i?; -T.lJ: il 30- Sii ' - 5 Ig 6 ' ; ' 1 ,5»ni*Co, - . - : M.000 W.Co3 i 1 JO 412 G '115 0 - : Weta-OpcraHoun : - 18,630 i' 1 ® 1 • fe^'<*Pivt-iii* ■ ' -WKta Tmh Food 1S.SSI \ -.-x • ■ ' I . •'■U — • ■ WMtcombe t Tomb J- 46A5J . .: 80,153.1 i ad jj • i 8 0 : -/. t ;»tadaoa.I>faalW-.-;- /-iMffr- -i'8W;. I wl Jt 018 6" "019 0 ,018.9,! # 0 0