FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 169, 10 April 1908, Page 10

FINANCE AND COMMERCE.

.J — ' WELLINGTON SHARE LIST.

Tilßj SIIAES MARKET. There/' was 'a.; transactioniiri., investment , ';;0 shares.-yesterday, National "Mortgage 'shares: jhanging hands at G9s. lii ■ other respects the . ■ aiarket was' unchanged. The quotations were: Bank-of Now Zealand, sellers £9 lis.; National s Hanks, sellers £5 - fis." Od;v, ■ 'Insurance., -sharps • wero.. freely' offered, sellers : asking 225. for -VVStandard insurance, £3.'l7s.;.for.New Zealand ' .Insurance, and 275., 9d, : for .National :Insuronce. Financial* shares' 1 were.'quiet; There ■ ■ • ivero sellers of Equitable Building at £10 2s. '.. 'fill:, and buj'ers of National Mortgage at £2 >. • ;i.lfls.; Gd.j and Loan and Mercantile at ss. , Foilding 'Gas were in'demand at 165., showing ' \ /a'.'Substantial advance, on,the previous l buying ■■■■ quotation: Wellington- Gas',shares'' l werei > on . i.V- . salo at .£l9 ■' 10s. Frozen ' Meat shares ..were ..- steady; Canterbury. Meat,;:sellers '£8 2s. Gd.; ; Christchurch. Meati.Lbuyers ,£lO Gs.; , ton Meat . Export,, third issue,. £3 ss.' • >. 3d.; Union Steam, sellers £1 145.-Gd:;Wel-•y lington Woollen; buyers 60s:'r;Westport: Coal, : : £7; .Westport-Stockton,' sellers 95.; Ley- . land-O'Brien Timber, sellers 445.; New-Zea-■l -land Drugs, sellers £2 125.; ex dividend; Ward ■ . and _Co., Brewery .shares, buyers £4'155.; Tara- •'/>;. .naki' Petroleum, /buyers' ss.' 6d; ; . THE MINING MARKET. • Talismans had a good turnover 1 yesterday, : . jales being made up to' £2 .13s. - 6d. - Waihis " • were steady' and unchanged,' and- Waihi: Grand -.. Junction were firm. The quotations.syestcrday wero as under " .... . , "Buyer's.'. Seller's. Sales. :~£' s..d. £'s.(d. £s. d.Wailii Grand June. 11G B — V'' : 116 ' 9 •: Wailii .~ ... 9 ; 7. G 9/9 0! : . Waihi Extended ... — o\4 3 — . . , Big River ...>.'. ... 0 18- 3. 10 G - - Talisman ... ...;2 13:3 214 0 .2 13 4J ;; . .''' ' j 2 13 G. r ."■'■■■ TRADE WITH SOUTH AFRICA. . ■: Immediately after the close of the Bper War, '-. all Australasia .was imbued with, the;idea that- : „South Africa' presented .a' special ,fl?ld for'.'ex-. ploitation.. New Zealand sent Mr. Gow as a Trade . ■ Commissioner:to South.: Africa',.;and,..although hp endeavoured,'by taking the liiost optimistic .■■■_.'-views, to indicato. the ■ possibilities, of .trade extension with, that country, very little,' if' anything, was gained for the expense of send- . .. ing him 'there.. A .'direct''serviSS of 7 a i; kirid ''wasr also subsidised, but-had to be abandoned because the trade refused .to expand. New Zealand, like Australia, has entered into preferen- ■ tian trade with South Africa,-vbut '% .'.that has not done us any good.. The/Austfalifcihs" were under the impression that all the benefit under the;preferential tariff wouldraccracytP; -.Australia, but they are beginning'to' realise . that they have made a: mistake. Agriculture ' ,in' South 1 Africa' is making rapid" strides, and , this season-. Cape Colony is exporting to Ahs- ' tralia a .la^^^anti^pi^ts^'^r'Suraj^D.' ■ shipped-, quantity .-'.of: maize. Ad- . vices froinVjSputh"'Africa fthey-' are v. now exporte'rs'lof oats, white and-yellow;:,maize, ' ■ malting','and'i; feed ; barley, pressed v-.hajvi'-and lucerne hay, ; while .the production'of ijwheat is expanding, and the;, demand" for flour from Australia; ind,-elsewhere,'is diminishing. The ;' •statistics-,; of '.South African : tra'de,. recently : -issued by..;Mr.'^A.' J. S. 'Lewis,- prinicipal ibf .' -- the SouthVAfrica'ii .CriStoms.-..Statistical 'Bureau, show . tiie;iextentit'o s .H)'hich'jthe'' produeti6n' of maize, oats,';-. a:ul other, grain has grown in ;.-■ s •;.South' Africa. -iTheJlollowifig^is a.^comparisoii • of ' the priiii,cip'al ilines. ofegrain and foddei-,'ex- ■ ported frpni .British South'" Africa xluring 190G and 1907 ':—•• ; ■ * V- - 150 G. ' 1207. '.Maize 1,i22,99G, 92,808,362 - ;Oats « . -575;1-iG" 15,108,014 ' . Barley .17,371 107,962 Bran .. U; V.;. f67i187;« '21;078,W ' ~other grun (q if ,H i -• ,' '37G.97C .-" Fodder and foraga 2,810,784 ':'3,868,185 ' .'.} Accompanying tlie increase, in", exports 'of oats,' - ■ maize, and other grain, h'hd , fodder, itliere lias: been a large falling-o!f in the. imports of those commodities, as the following' will show■' • : - - ;:;'f ,'. -IM6: 1807; .■' / T '. ; lb. '. ; lb, .. • Oats ... ... ... „... ... 15,513,501 '4,G90,96'}' Maizo'. 15,554,GG5 ! ■ 1,817,821 Bran ... ... . ... ... ..'.j; 10,7G8,528 -. 1,938-281 ■ parley. A. 3,987;838 1.966,831 , • i' ; Wheat ... .... ...' ... ...319,535,2(8 288,297,63G ■- - Flour ...- ... .; 163,372,77G 149,850,092 Hay .... ... ... ... .'.. 7,717,213 .1,031,495 i- .i^c^^;.; i ' The London ' County - Council: is .'.issuing V , £2,750,000 of', consolidated stock, carrying ,3} ' ! nor cent, interest. The rate' dfr 'interest --is' -- higher; than previously paid; over'iSG,ooo,ooo - has been issued carrying 2i per cent., and over '<£26,090,000 carrying 3 per cent., and the quotation for. the latter on February 27 was 92, -' vielding ss. , per cent. yit'Us' very ! likely that the; loan will lie issued "at .par, and", that it/Srill 'withV out,saying. The.'London County.X'ouniil Con- . . eolidated Stock's;are on'the Trustee List. The London money'.'market is being plagued'with a plethora of-,: gilt-edged securities. This loan .will prevent Germany from.getting any money. INTERESTING INSURANCE CASE.' ' A Are insurance case' of considerable interest, came upjvfor hearing in the-High,Court it Melbourne about: a fortnight ago.; . The ease, came from'the Supreme Court of Western . Australia. • The facts, were.,that ..Henry William Taylor aiiJrPatrick Connolly effected, on April 10, 1899,-an insurance for JE6SO on the ' Tasmanian.Hotel at South, Boulder with the : : Royal Insirrancel.'Company. The certificate of title to the ; was lodged With tho Western Australian Bank as security, for an, ..- overdraft. This .was in September,' 1901, and . in Novcinber'.'of the same year, the interest in til's policy, of.iissurance was assigned to the bank to the .extent of Taylor and Connolly's' indebtedness.; '.This .assignment was assented ' ' . to by the insurance, 'company in. .February, : ISO 2. The policy'.; was renewed in April, 1903, . a receipt being- given by the, insurance com- > ;.pany. to the bank; in its own name. A second insurance on thV same property, was effectod June, 1903,' Taylor and Connolly with tho Commercial Insurance ..Company, but no notice was ;'given ! to the . Royal Insurance Company, and in/Deceinber, the'premises , were burnt down.: The Royal Insurance Com- ' pany was the bank, on. its' asserting that the policy; had been vitiated by reason of -the second insurance. It was found at the . . trial by Chief' Justice. Parker that .the bank . was unaware" of . the second policy of insurnnce, and His Honour gave judgment in ' . August, 190 G- for:, plaintiffs, for J/179, with costs'. The FiilL Court of Western Australia reversed .this judgment on appeal, and the,

plaintiff , bank appealed to. the High Court against this decision. • It was ordered by tho Court that the 'appeal' be allowed," and; tho 'judgment of Chief Justice Parker was restored, respondents to pay the cost of'the appeal. NOTES. , ~ ' ■ , Tho Wellington City' Tramways ' show • a ;credit balance of d£4OSS 15s. lid. for,; the year ended March, 31. This 'balance... accrues after meeting-all obligations. Front' tho Talisman,- Consolidated Company the Wellington Stock Exchange has received tho „',- following ■ telegram, dated April 8 "March- return, crushed ' 4015 tons,; yield £17,675/costs.3ls! Id." per ton." This would appear .to . leave 'a 'surplus of nearly ,£II,OOO. i ~V| MINING; TELEGIIAPH—I'IIESS ASSOCIATION.) : ' April 1). _ During March the Talisman Consolidated crushed and'treated 4015 tons \of ore for a return of bullion' valued at .£17,G75, 2s. 4d. This'is'an increase on the return for February, when 3638 tons yielded iIG,GG2. Compared with the return for March, 1907, .£11,559, the present figures show a still larger increase. The costs for ..March last amounted to ,£1 14s. Id. per ton, made up as -followsMine x de- 1 velopiiient, Gs. ! : 2d.; mining, 12s. 2d.; milling, 13s. lid.; general expenses, Is. lOd. The February cost per ton was..£l 17s. 3d. The total amount won from the mine to date is :i9s. sd. ■■ • The Tairua Broken! Hills treated. 1100 tons of ore for bullion worth J52032. Dunedin, April !). ''-Mas'terton' returns9loz; 4dwt., for 136 hours. •; A f } P\.t:LIVE STOCK SALES. . , Messrs. Dalgety and Co., Ltd., report as follows.''.on their- Palmeriton- sale, hold yesterday:—We" had ..a : small yarding .'both of Sheep; 'and"cattle. ''Tho' .was not at all lceeiyand price's were: easier than on the .'previous week. F.-it 1 owes made from 12s. 6d.', 12s: "9d., 12s: lid."to 13s'.-; cull lambs, 3s.' 3d.; aged; ewes, 4s. ; small fat steers, oCS lis.; forward cov/s, £3 45.-; cows and calves, 325.; fat cowsj medium sorts, .£!• 55.; bulls, 595. 1 Messrs. Dalgety-, and, Co., Ltd., held their fortnightly sale at the Upper Hutt yards yesterday, when a good entry, of sheep and cattle was , submitted. With the exception of one line, all sheep were disposed of, mostly under tho: hammer, but "'there: .was practically no dema'hd >'fof: ! - store'' '' cattle. • '. Godd-conditioncd wore,...well competed for,'" and sold"at;.souridVrates'.>'.Fat wethers reached 155.; stores, 'l2s. 9d.; fat and forward ewes, lis. Gd.; niixod-ewes-and-wethers, 7s. 9d.; f.m. breeding ewes; ss. Gd. to 6s. 2d.; small lanjbs, 45.-to-45.-.2d.; -good springing cows, .to X 7 10s.; h'eiffirs," /j list' calved;• - Gd.''to - JEG il2s.'- Gd.; light .beef coirs,r Jf The;.'iNew: and' Mercantile Ageiicy > :'.Gp.:, l :''Ltd:', v-report. as Pqlinerston on'/Thursday wc . had • a medium, 'Sheep"-'"aiidr cattle, which' met .'with' medium , . We quote":—Sheep: \Cull ewes, 25.-sd. to- 35.. IOdi; store ewes, 55.; store, we.thers,'-, 10s. -2d. to 10s: 3d. Cattle: 'Store cows," 244. to 2751; heifers, iii calf, 3Gs.; forward heifers,.£2 35.; fat heifers, £i 75.; bulls,';,£ 2 7s. "6d. ■' '' PAHIATUA.HORSE FAIR., .. ~ .(by telegraph:.—special amssfoxotm.) . i, Pahiatua, April 9. At the quarterly horse fair, to-day, the number of horses submitted was considerably below. .that of the. last sales, ■ . though .. tli.e ciu'ality in " many classes'was (luito up to the standard. Outside buyers were '..conspicuous by r ;,thei£:rabs.enceV;''the .attendant ■ consisting mostly'.'pffsqUatters'jjandHfarmers,". all ; more -orless: sellers. . Tho season of the. year doubtless militated against the sale, the bulk of the lines being/passed in not. reaching the owners' limits./. '-A:. three-year-old colt: by Federation brought .£l6 (the highest price obtained); a thoroughbred Rebellion—Tattler, iSI4; spring cart horse,, ~7 15s. ; ■' gig horse, 155.; ponies, «E3 15.5. ''.- . FROZEN MEAT. '. -'(BT TEMGBAPH—riiESS ASSOCIATIOM.! ' -. Nafieb, April 9. . The C.C. and D. Company, London, cabled the following report:—There is a better demand for frozen meat. To-day's quotatibns— Canterbury mutton; 4jd.; Napier, Wellington, mid North Island,, 3|d.; lamb, first .quality, s|d.j second, s|d. Beef—Hinds, 3jd.; fores, !{d. BRITISH IMPORTS AND EXPORTS. A FALLING OFF. BY TKLECInAPII: —PI'.ESS ASSOCIATION—COPTniOHI - ' : - Loudon,' April 8. ■ British imports for March decreased by £y,G20,0'j2, compared with the previous March. Of these imports, .£3,404,000 represent raw cottoii aiid 000 wool.: The exports declined by J51,8"9,G10, the 'fal-ling-pit ;beiiigy chiefly, in conncction with iron and. steel'; manufactures. Tho rfc-'exports declined by £2,145,000. V LONDON COUNTY COUNCIL LOAN ' OPERATI6NS. BY TELEGIIAPII—PRESS ASSOCIATION —COPYRIGHT. . London, April s. The County Council is issuing at par two und three-quarter millions of London ■ County Council. consolidated stock, carrying 3j per sent, interest. ' '» LONDON MARKETS. PRICES OF METALS. ' ' BY TELEuRAVII —PRESS AB3OCIATION—COPYRIGHT . London, April 8. Silver,is quoted at 25 5-16 d. , Copper.—On spot, £58 17s. Gd.; three months, £s!f'ss.; electrolytic, £60 15s. , : Tin.—On spot, £141 155.; three months, £140 15s. ■ - ' , >■' '. - Iron, £52. . v .Lead, £14.,' , : ■ N ' ... .:, ' 1 TALLOW. Tallow.—-1397 c*sks offered ..and 708 sold.' Good was'at 3d. to Gd. advance; inferior, 3d.' oheapor. ■ ' SHARES AND DEBENTURES/'..V • Bank' Shares.—Now South Wales, buyers, £42; sellers, £43. Rest unaltered. .Now. Zealand Loan .and Mer.cantilo debentures, £93. : ....

*" ftoserro ' rwf«i • Fundanfl h* PJilflES. TieM. ' COSTPAXY. rai.lTTn J*'«nc» V per f~T~ to ;- v ;;.•••• V • Up * Vwmrt -g* itaw.-"(jg " Buyer. ~ Setter. £J™ Jnrcstor. "W •'•. BANKS. £ - r ,A„ £~ £ £ s.tl. it .a. Jil JM.' : : .fewZealand ■'■' r.000.001 ;§'5u Si • 81 . -iJO ®.' - S'l ? " J 1 ? 2 ?,2 " ;■ National . , .. £75,000 ■ W 15 - 12 C o.6 C.C b 6 7 0 012 9 .:KatioiuU . '< : jilO.OM f]0® l nnlltL 15 ...j J ® J ® . r 7 8 Sew Zealand , - SOO.OOO - : • S - B >• -30 ' 9K ,0. 0\ ■; : Couth Bxitish" ' . • 100,0)0 ■ ■ Ir'icS ... 4' ; M ' JO 216..0 •? "• « 1 Manfiari - • . n,OXl~ 67.385, ■ .j ua jq O FKAXCIAU •■..•'■ • / • ••• • • „ „ ' ' Equittble Building ; : f0.033 5 5 10 . 10 2 G 10 0 " F P l>. •Vr• '.MetropolitanBuildlns 4P.ftGl .. .{MBs..-. 10' nil-,v ,.,7' ... _ ' „ . , . Wellington Invest. . - . SO,033 , , , 4 i 0 ■ f 6 . P 4 4 :••• Vel'eton TrustsLon .'101,553 • 6. . 5 8 7 ,». 0 7 "-S 7 1 S ■ r- 7 ? n National Mortgago £00,OM JJ?',wr s 8' 10 •&'» <! ® ,1 { * ® ® J 1 ',?' •• 1\.Z. and Hivcr Plata' ■ 300,COO - 1 nil j =>>111 0 . !; . * ® -I •; > Loan and Merce.utU.i - 150,'UJl vla.lil r ti 6 l 0 5 0 0 J 1 CI 5 0 10 0 0 r -,vv: GAS.,? ■ ;• > >,' . . ; AncWand . - . 1C0,370 r nil tf .... , . : ■ *.' t'hristchurc'u . - • 152,0)3 nil 10 10 53 6 10 0 .0 5 0 0 Feilding ' - . . 12,000 .„}?/ 1 nil - 016 0 :c; ' v Gisborno • . . 17.30J - 1 nU *13?' 2 9 9 212 0 210 0 630 0 Hawera . . 6.25J t . ' i i 10 ' ; KewPls-mouih -• , 18.CC0 ,,,10J 5 nJ 10 ->->«>icr; . .. . ) - * ;. .*J0 ; uli • 13. . 7 a;- -...* .... .. «,957f .i. 23 ' 183 5 ■ 5 15 - ■ • : » , ' ) ' ''1 . U 15 ■ "f V . [7,000' •'P'SS! '.W ' -v >fe 10 ., .; u'i'L „ . _ „ „ . Wfliington - . 570 - ' . -Jjl I'.MT 10' • 1010,0 1911 0 1 i 8 ; : ; f'tnterbury - • JP3.7-27 7'i : £i . 8 . '.8 0 0 8 2 6 t biistcUiucb . '• 16i,30J In mi, 5 ID b 0 1010 0 / Star. - .• ...mil f>.-« 1 Uu .. 14 2 0 3 C 10 3 2 0 0 6 1,5 . . u,ow / 40 12« oil 0 10.0 0 • VitllinglonMeatExs' . 1 ■■ ■' . (1- nil. 8': f l 2 0 l .-\ . „ ■ 305,765 [ K.7d7 . 4 • 1 8 £20 520 f! I ■..■ •. i u -21. , .& ■ 353 too 1 0 3 . „ : "i- t . ..t u -i.'.r .1' '.T'; ' Jri'J-j ' 1 1 7 ; 2 6'o 276 2 7.0 I0( . . j . - 473,811 • , K ■ nil. , 0 ■ . 611 0 . LiijonSteam •• BOD.WJ . Ai-iO'Jf.- i uij, 114 0 13-1 6 . V» etn. Steam Foirry . , 4C,'2j J • • w - 1 : 1 \ \ V.'eBtport - £50,0)1 . ;. . 1J '.; 121 6 19 0 7 0 0 'III 6 0 0 .. . -. v -.j, 1 ', 114U •" - Vj" 1 0'6.. ..1 0 ;9 1 0 3 7 6 0 ' • . • , ,'l'ftiapoi* . 300,00) • • 5 nlL 6 : > / i: ' >J06giel- . ' "tjy;43/ U -U 4 ? 0 0 .. 8 3 6 ' 3 1 0 4 12 0 ." Vemngion . - (. u-,0Jj ■ » -x C 3 0 0 3 3 0 3 0 0 ,8 0 0 . < •MlSOKijIiAXfiO J3- ' • - - >7,03) - . 6 nil / C O 0 6 5 0 • J.eylaud&0'Uri3i . iii.OJJ 1 mi 13 a 2 6 • r 4 0 ! 3 9 617 2 - '• Ijaunuovilloiiiiiij, . ,'t.UJJ . i Ua, • b , Candle / •. ; 10.0JJ; 'TI.;'-' 'lo ' — t ; , , : . , / ' ' liu' 7 f 11 0 . 2 12 0 fll 0 6 3 0 :'i-./i.rnporMDlJ i" '•* Cl t 7o3 . 1 * i! J.• • s ua 7 • -J H .6- ; 1 3*0 ,-133 i Of. L, -- : . ' i0 t MJ : 1- 'ua: . —. 311 0 1 32 6 • . . i.aniiuii.fcOJ. ' -L.iXJJ '• 'v M>A ■ ' •« ' ' '10 315 6 ' VtrQ&Co. - • - • ; IV,OM - - £ ,1. -W 415 0 i 17 6 . * " . 1 ai( a • ' •- VlbStt I'OOd .♦ 1 rfTT-' M * "" V • 1^ ,.'•!• t, ; : i. W ! 430 ;V biiCimuu, L-iuiidj '■ ..| • i . .-.Jul 'ij. 019 6 1 i 0 f 18 9' 8 0 0