FIANCE AND COMMERCE

Dominion, Volume 1, Issue 183, 28 April 1908, Page 10

FIANCE AND COMMERCE

[ > / THE SHARE MARKET . |r. ::'>^,ljnvpstme'nt.- shares were- fy;es-. f ,day, but yesterdaj was duller tfian "irtual .. ' . There werevonly half a dozeiubuying-ordersj S v.: : and of these three representeJJslight advances, ; • ;v,j ~ Maiiawatu: Rails have, advanced, to .'iE2 7s.' 6d.; .:■ for WellmKton Woollen ordinary shares-buyers V are now offering Jo 3* 1 6d , and for Taranaki M.',-. '; 'c- ..Petroleum B,s. is ofTcred. : - Oil shares are not : holder?- seemlinblined to. accept iv : ':^v v i^C''-.risß-i-^d^''B^t. ,! ''the.-. ; 'i^lte,-;oi',. ; 'tte. i« .< ■ developments; which, so •farparo'-sflid -to - :bb; ; ! ; .very, -.promising. : i-S 'National.' Bank shared . -,v.-ero m'demand at £5155. 6d. .- Gear Meat: at ■v. --a. . X2, ; 85.. 6d.,'. and, Mountain ißimu •'Timber at »s"; ■: 225. i9d. ,•-,Thei quotations were, Bank -of Jjow,',Zealand, -,£9:l2s:''6d.'; Equitablo-' Buildins,: .i-cf ,- :i!10,25. 6d.; Loan and Mer9antile,'ss< Id:; Feildi* '-■ }ng.Gas, 18s.- ;Gd.; . Wellington .Gas,- .£lO,- 10s: ' - 'v.. aind> iS9.! 15s:sfor.: :the • respective .' issues : Canter-;' ti.;;?.'::... bjiry.Frozen Meat, JGB; v Westport Coal, =£7 Is-; :■ andvLeyland-O'Brien Timber, £2 3s. 5 , THE MINING MARKET " ' This. market was again firm; although . tha r v j . 4 done was. confined Ho a * line ''of.-Big-sold Vat! l9s;;6dy-;''Tklismans ! >.-,and vWaihis'., very firm; - -Yesterday's '• quotations■ were as. under j \ Buyers Sellers Palest 1 , * iGsd isd ißsd " 0-19 .0 . 019 . 6 > , * ... . 210 6 211 9 'S'S! sis — . VVdlhl Ghiiid Junc.'-. '-^-—1 16 6 -■ ' > "'*• Tairtla Bkn pills 0,3 6 THE MONEY MARKET r'r, - "All through the current month the':Bank of .n Bngland has lost gold; •On April 1 the gold the'., /Issue''-.'- ;Department-\> amounted':,.'to awhile : on-. -W ednesday<-last -lt- had I'slirunk",to. 1 06;000,, ~ of 000[in three '\weeks.' <Th i s,.e ff lux- o f r -t he ;Ji-^--?H;'Jnetal''Il^.tiade"nov'diffei»iiceW?ihe.'--pr^sßt1l^.tiade"nov'diffei»iiceW?ihe.'--pr^sßt^ f : tion.-of resorvo.to liabilities,'which still stands' . ' Jit over 50 per cent. -The discount rate in.the .\ 1 ' ojton-market' has ranged between \£2 7s. _: 6d. and :).,:• iC2il3s. -9d. .per. cent.,. the.rate last .week being .;',; ,wC2 • 12s.' 6d, -per cent.London bill' rates", are, easier than in Paris ■ or Berlin; which, places are drafring:gold from; New. .York.; .Witn tjio increasing dnlness ,m trade, and:the' recrudes-: •r»i>.'.'-;.--o«ence'.' of. industrial disturbances,• 'iinvolving' strikes and'.look-outs, 'there is bound to be a' . rpertain'amount of hoarding,..not in'/'the 'Ameri:' :•'{»,.' ,-can .sense/, but .'through, money, being.'allowed' tci> ;y-'. .:. accumulate in .the."'bapks,':aTid,' consequently;': '•• v money should-be 'oheap'fovnsomevhmeitotcome.'' J; Locally, the leaSt, ■rthat is the. complaintfof-' many 'business' mon,j ■ aretlendirfg 'with great "caution; which ; is ,to be. commended.What seems to .-bo-'/the, true position,-is .that-ivodl. growers ■ and others,' -.receiving'.':'the i ;'same .'incbnie~ as'-'was r/ . r caso last year, have been-compelled to curtail • and this is ibeginnmg to be felt ; by the community. Thero-istnothing serious f,; •;«.-• in the. position, it merely.Nmoans.'tliat'wo- can- ; not be lavish m our expenditure. - Of course,'.- ' • . ... 'a good-many. who.have saddled themselves with liabilities will have a avoary struggle, and not a few'may sink, but tnat'happens after every • : • boom. Care .and- caution - aro «commendable. [./ / ..--.things ]ust now, but there ls.'no reason to take" m yivi;.'-'alarm;: and' anticipate., .financial:: troubles • of.' a' 1..--',' fi. * senous character. Ne'.v ,Zealand- will .get over | r 'iv. /'. 1 ■ the /monetary stringency; and'-be"all the f better \ , for': havingexperienced it;^,: f' ' / I THE WOOL MARKET > The-i next "series' 1 ' o^LbndoiiV ; s'aies begins': on: 1 tions;.:forS.Bradford''c ; tops,''; J there, is i riot' .the.' fy ' prospectof .any:;4mmediateiiniprbve-' -in . values. ' It; is interesting to , compare f. the present: quotations, for tops .-with- those; cur--. £$ k i Tent, j-qat before the .opening 'of/the'MaTch?sales.'. and those of a year.ago. ..j.Tho table appended :'.r.. : ;:_2.discloies the movements:—'" 1 ' : April' 22, Mar.' 12,' April 25, i : ;;/.1908. .1908.:; M.1907.-. -:'L' ■ '■- , 40's Tops.... . ... BJd. ll}d. ''. 17' d. ..... i; / Ws Tops ... . ... 10Jd. 13 d. ' 17|'d. . . ,• • 60's .Common 21 d. , 24Jd. ' 2GJd. •/ 60's Supor..i :23 d. .25 d. 27Jd.. I. ■ The crossbred count, that is, 40's,, is just at f i;: -' • half'the-price it .was a year: ago,,and is:2jd. p. below the quotation of a month ago. The fall »•:. ' ' all round ;.is" very^pronounced,: and, has the 1 • •,. appearancfe. of : being due -to declining trade.' [. : Speculation, has very little to do with;,the [. matter. t One; authority observes that although wool t i . , rallies are more or less determined by the top t: -.' market; , the. price of \ noils is an importontWfi factor. ' More. esptejaHy,-;.is, :, this-:..theWcase iih- ' the posi^on''tO!-da^.o:S^^n^-pJhenHlj7 i '<Jiy' 1. ' Australian clip oh IM7-B,'' owing to : its'"Stenderf' ; t v;jiess.., stunted growfw and consequent sbartness'' i' • of staplo, has appealed ;less to the. comber -pr i' . topmaker. than any;clip for a number'of years;J ' and it will probably'be found that, the merino !■ - ■ /.portion of, it carries'.2o per oefit. more iioil'in I proportion':to top than usual. 'Such being, the !' / ' - case, it can readily ,-Ae. understood that ./ thb: I / unsatisfactory condition j the noil,market is 0. playing its part ihlthp.dowTiward course of: wool, > values. ' m v -' < I - 7 THE HEMP MARKET: : ~ J Some weeks ago,jwe- ventured jupon'the,.pret ' diction that the' hemp mairket would recover, [ and indicated that values ..would come; np to i ' - about' JE2B for gdod. fair. Th'ij market has i' mov-ed slowly since, but;every change has been t favourable. Therlatest- quotation -for April- » June shipment is- £27 . pei"<ton,; and the':;im-' '•.> / provement that i jhas readily seen from'the following figures, which rnp'resent the'quotations;cabled to New Zea- }•: :'//'• land by , the High ...Commissioner:—'^, April-Juno shipments. /March2B..April2s, ■ .:/ . /.'■ ■■ ,£ s. d.'' £s. d. 1 Good fair grade » ... 23 10 0 27 0 0 Fair grade ' ..V 21,10-'0 ,-V 26 :0 0 ' ' Fair, current Manila .1. 23 10 0 26 0 0 • Good fair, grade has advanced J!3 10s., fair grade £i 10s., and fair current Manila £2 10s. . per ton, in the course of tho, month.': ;/The. 1, demand is likely to continue, though May and June may become pronounced, because .'it .-is expected that a much larger area of cereals will be harvested in Europe and America, and more binder . twine will., be /• ' wanted. Unfortunately for. New Zealand,,'very, little, hemp is milled in the '.winter inonthsj-.go-that tho.jiresent quotations'have scarcely •. . any inten'».f ..' : / , . 1

'RESpipyiON PRODUCTION, : " :V ,The^^eiv r^ork,' , '}ournal'*qf; Co'mmerce". for . ?March. of- a prominent *membVr'of T the goods trade qnihe restri6--tion_of_.teitilei:prod.uctio,n,_,;He refers - to!, the statement'that 65 r; per -cent. of 'the. looms of tho >. American' > Woollen Company, were idle, and adds: "This condition:,, is undoubtedly irue/ioff-other though, probably to aitnußhilar§eS\ degree." Out of a total of 38,000,' operative's"'.usually, employed' iin • the • Philadelphia^tra.4e,-.in..men's wear, upholstery goods,jcarpets,■ ;etc.V:iß,oo0 ',are;saidto be'idle.' The .silk trade' has;been a(!ected''by, various the,. Paterson and Pennyslvania districts iobms :'are . running- : irregularly, ;there,/is no:organised, curtailment. ' There""M!tVe' a b'een, n ,of' I ''ccMi'fcG;: large curtaili u meats ohcottonngoods production in the New jß&laii^S^t^i, > reportsindicate .that the Fall' Riter: mills"~are 'not-prepared . ito'S commits/themselves !,to a, defined' policy of restriction.;., It./,is §aid r 'that-,-iri .'the' southern ,cotton ; mills the- 1 restrictions .have' not/been tions of--stock'-are :,troubjesbm'e..|-. There liavb also of- printing; dicing, pnd JjusJim| wprlp.7 • ' l ; THE TIN MARKET Tin luia 1 improviid'm '.Value very considerably,, for.it has. advanced -from about ,£]!>s to £145'per'. ton.;.irhis:upward tendency,. appears to be due entirely to speculation, for, as the. " Manchester Guardian" observes, "apart' from i ,'sp.£!fliiJflt^on.\,it. ; ft,,(lijP)culi; c te^see ./Why tin should go, up.":. The actual consuriier'• of the metal ; imay^-remain' fairly easy,_for . there:: does not . be 'any' prpb&ijjty 1 ''.of-a; shortage', during '190 J. V Immediate 'prices . may be a .matter:,. prjSuncertamty„ until the position is ■liquidated, ,and,.it • isVquite l possible. that seri-1 ous fluctuations^may, take place; but the: ex- 1 pert '.in the tin ' market will remain very ■ sceptical;, about higher prices until there., is a decided • and; far-reaching- iibTprovement in the r general : t6tieL'.of,,i the vmetal and, engineering indiuta^^2. r »'£j' -7y.- „ ; : \ v ' V-:' Ar GOROMANBEL.CLAIiT; • ' (BY TELEGRAPH. —SPECIAL CORRESPONDENT). , > Auckland, April 27..' ■ The Lord Charles Boresford olaim, situated' at the.head.of-.the -Waikoromiko,' on tho dividing range between Coromahdol. and'Opitonui, . and uj'ori-wOiich.:important. preliminary, work has , -lTee''n^d(iiio-recently I ,'by,iaiJoeal syndicate; is' • ' ueiiig^tnrried now in course r of--formation'under.'.the title of the : Beresford Company. , The area. of the :'iiew. •property" ;is;alongside|i:of«that''known as the' Plutus; and :includes'it:fro!or-'three. acres thereof: • Avnch"leader was worked, in the latter some . years,agbj'-until it,gave',out. •_. , . - '• .-%e r ; ; s«esfpr4)i)F v ®oijght , ,'l»ighly of- by old miners r at Corbmaiideli" -Though, it ' has never ;)ieon worked .prior; to the. date of. the .present ownership,'rich specimens are said to havebeen- , ;plcks3~sip, atj-'tlig'-fpot 'S_f,the', property isorne years'"ago, , one being/reported to halve (sold'for >G175. The' Lord Charlor ieresfbrd'SyndicateV l during' recent development of the,claim, 1, opened up a lode at throe ■"levels, which.'averages from 18in.■ to.3ft.':Gin, in: 'width. : ,',..No ,'gold. is visible in. the 'stone from this., reef,' "but tnali cr.ushings, comprising one ton,fforoteapS:\evel7'h!\ys'Rijien.ret;urns>of from '.£4 to JES 18s.; per ton. The. gold is worth ur to ,£3 9&.jQd.»pot. ounce, and is probably the richest gold on: the Coroinandel -Peninsula. There are two other reefs on the property of "an- etitirely^tlifferßilt' bhhract&f, in that'-they /arr ■ -more 'like' t'heMbdes ; . fou'ndvin the Four-in-Hanc'' : ; ! Mine,' as; gold ...is, .visible,': ia'i the .stone on, No. 1: -■.reefi lfrbni:', which; .thethree . trial ...parcels '.'re.,fe');red.to'.were',taken). The'low,levfl 'has'been dnven"2ioft;,; and: there "are' considerably ovbr lOOft.'.of backs from here., The,-' owners' take' . t l§iQoo "of ,- v t)j?j,6o,ooo at 2s. each in the new company, 45,000 lieiiig offered to the public • on a 6d. paid basis. . -* ' STOCK _EXCHANGE. , - " (BY , TKI,EOBAFn.—PHES3 ASSOCIATION.) , ' Dunedin, April 27. Sale: Sailors' Bend, -16s. . _'AStock Jlicoliange. quotations Dredging stocks: ►Central: Charlton, sellers, 75.". 6d.; Chicago,, sellers®9s'.f; New First Chance, sellers, ss. 6d.; .Gol'donA3ed, , sellers,-135.; 'i Hesseys, ..buyers, 25"., ed^.Tiid'y?EiibWgh (coritrib.), sellers, Bs.; ■ Manuhcrikia, £1 il 4s. ; Jlolyneux" Kofiihoor, buyer's, is. . 3d., sellers 2s. 6d.;'Mystery.iFlat, sellers, £2-'7s. 6d.; New . Fourteen ; Mile: Beach, sellers 2§. v. (Pj); New . Trafalgar', buyers 135.,. sellers 17a..; No Town . .-Creek,. r .seU§rs,j,,l2s.;;. ,Eise ,and .Shini-iex-div.), ' buyers ~,£l ~3s,if : selle'rs-^6l^> 6s.'"i ' Rising,:' Sun, :, buyers. i ei. 7s.- 6d.; Sailbra': :;Bend,, ljtiyers 16s; fld„Sliniitg *. Taus'man,v Consolidated (ei-.div:), sellers, . 12s. •> 2lntestifierit. jfcJciG-'-: National'-'. Bank, :sellers,'.^s*6sr'' l sellers, £1 75.-9d.;-Standard-Insuranco,,buyers £1 25., sellers il ,2s. Gd.; -Westport Coal,- sellers, £7; 2s. 9d.; N.Z. Drug (10s. r paid),-buyers' bC2' l'lsf, "sellers \£2 12s. ,6d.;' ;,N.Z.: Portland. Cement, sellers, -JBI 135.; Otago .-Daily Tiraesj' buyers,; J&iSs.)' Donaghy's■ Rope, 5e11er5,.,1:6.55.; ■ '• v .HIGH COMMISSIONER'S ' REPORT. V,v ' '"ijopSHment"^' r lildusfries and -ComMerce'"has: 'rebdive'd the l follomng cable from the High'< Commissioner, > dated Loudon, April 25:- " . ' . . The . mutton market js quiet, with less de--1 ma^ i^andw> a v ,-,tend?nc3uiii..;favour of buyers!' ''Canterbury'brandfe'l aro-'ciuoted. at -i}d.;' . an(l North: Island at,.<d. per lb. The weather lately has Keen very"" unfavourable for the sale of lamb, and the market is quiot. Can-Jterburi'-llamu' iS quo't'cil at .51(1.', and other than' Canterbury' brands'at sjd. per lb. The- Jjeof market; -is-.-, dull. Hind and forequartqr^^arp;,Quoted .respqefively, at B|d. and 3Jd. por lb. ' V:Tho;'l)httbr':'matket: , .is'iVei''y firm, and there is a general and actfve demand. Choicest New Zealand butter is quoted at- 112s. j Aue- '; DjinigfetU2s;iV,and- Siberian. 108s. .... . • '.'The" *dhbes6''Market "is* feteady, at Gls. per owt.'. for --white/ and '625. v?or coloured makes. .The .hemp market is steady, "and there is a belter demand, at the following quotations: —Spot, good- fair,' ,£'2t; 10s.; 1 lair, .£25 10s. ,• : ''fair'-purront:,Maiiiia, per ton. April- ' June shipments—Good fair, JC27; fair, i 26; . fair r.iirrßnt tpn.

The cocksfoot seed ;markolf is . firm. Tho stock oil hand is only small,' 'and'is" quoted at 80s. per' cwt. . : The kauri gum market is very dull, owing to the poor'demand. Current quotations are: —Ordinary, to' fair three-quarter scraped, ltiOs. her cwt.; V; fair. half-s/irapcd; 100s. per cwt. ; urown fair half. to ..tlu-ee-quni'ter * scraped, 905." per cwt ("'pickings,-common to good, .475. Gd. 'per owt.; bush, fair to good - pale, and amber scraped, 130s. per cwt. • , , ■ ' ; , The wool market is firmer. The hop . market is very dull.C LONDON MARKETS. ' I « TIsU3GRAFH-—ritEßs ASSOCIATION—COPYRIGHT ■ /- London, April 2G. xvew ; Zealand ■ Meat!— Sheep, North Island 3 3-lGd., best 3 15-lGd.; lambs, „ Canterbury heavy s|d.;-North Island 5 3 ; lGd:; beef, Eiver Plate, fores 3Jd., hinds 3 13-16 d. . . . ..Rabbits firm. l Large Sydney arc retailing at lis. Gd; to 15s. Hemp quiet. April-June, ,£27. ' Copra quiet. South Sea, spot, sold at ~£ls 55.; a shipment quoted' at -.JOS-U, 6d. ' : Silver,' 24 11-lGd. per ounce. •' ; Copper,'on the spot, «£57 los. per ton; three months, .£SB 55.; electrolytic; .£59 ss. —Spot, iCI-lt ss. per ton; three months, Lead, <£13 Gs. 3d. per..ton. ■. -..;,-... - . Antimony;-dGlOi'. 1 Shares.—Wr.ihi,' buyers .£9 7s. Gd., sellers °£9 10s. buyers 35s.,'sellers 375. 6d. . ' •' ' , -

s WELLINGTON SHARE LIST. W. ;: P C ??" M :|^. d £ d ]s| IT ,; : -• raiCES -■ ";/ -v:'. tw» v t :• §5' S .«!. • ,„^,„ r . ;l'. - ■ £ - . ■■ ijtJi' f. i: '.'f.' ;.:.f 'Xa.': .• f b. a. £ c. a. . * ».a. Zealand . s.OCO.OOT ' SS'STI -,• 3i ; ; JOf 922 0 912 0 ? I) r< •"; -... .'JatlOMd -' • . ■ 876,000 : : 535,31)- ; 7 2i ; ':-15'-: • "12 ;6'5;'6" '. 5 .U'O; .6 5 9 -. : f 13 5 .--, . .. INS0RAKOB. i ; 'T' l' ••tj.*,*', 1 *y ••?}., V" ' Ktttional ' , - 300.000: ®is*25? ■' ' ! .nnltd. . 15 1,7 . 0 1 »,7 .9 j't J '■>/ ' "' i ew „ Z ;?'S??. i • ' • SWH) -.' 2 "8"' ' 10'i ':"317 0' ' " .317-'(J ' 1 " • - /".-., S$«5;-."'*vEoottBciUah"'•'••.?,-.••••. -••100,000-- -474.912,„.. —%_ 2J6:fl,: :„2J7..-6.. - '. ' ' - : V..;,:.-- Standard' - ••:•• 75,003' 67,383 £ unit! in 120 ..'. . ' • •FINANCIAL.- .'. ■■ " -. ■'. ■•' • £0,001 «.2W 6 \8 30 ". 10 2 6' ' io' 0 0 r „ r ; MetropolitanBuilding , 4D.56I/- 6,638 jo,, nil ,• 7 ... ..', ' «/>: r ?,.';JVeUingto n Irivest;>:;-! . ;50,000> - 3,933 .J -. 8 ; , '0.12 3* 011 '6 r < « W/.-'-v WeretonTrustitLoan -101,233 • y-.U&t " .6 '-'5 '■ 8 • 7 0/0' .-7:9.6 p 7 0 National Mortgage- - '200,000 '••'-- : .'112,850.,;:-■ a . 8 io 3 0' 0 3 2 0 a 0 0 ' 613 4 :N^.andBWerPlat0 800,000 .- 253,000 -. ..j nil. 7,. 113,0 113 6" 113 0 45 0 K';?'--,,v. loan and Mercantile 135,2!J|5 .815,133 J As? -TH*'£'£.' SfiAiil*-, .0 5 0 10 0 0 .-..-.-A gas. r ;.r , . v-v ■. .;-..-. ■ ' . ..-. 1"Auckland ■ j . .. • 160,370'' 03,359 ' 6 nil jc 1 •" 65,087 6 ml:' , ' 10 1 - 10 2 6 10 '0 0 B0 0 ; ., Fcilding .-• . . J-2,000 101 N 1 nil _ 015 6 018 6 ..'OiBborei) . •. . . ' . .'. W.10,5il.':, ,,^1, r. ; .nil l7 v 133 2 .0.0. 2 12. .0.. .'210 :0 . 618 0 ' ••liawcra - . 8,250 ■ ' 745' . I j .. i 10 ' - . , , Plymouth . .18,0W ' :SA59 .; >.-6: in . v-,' ■> i' ;; Kapicr. - . .v.- . y *■. ;ao..'/ nil'. .15" - .. ■ - <9,M7 j- ' £3,133 5'- . 5' - r : : - -y : ' FflmerBtonNorth-'-.V'' : £7,000''- ■ .: j in .' . . ... : ■. , .:'.,.Vfellicston-. W r '-Uil : >!W- "?*«> Km ' moi't • W 6 6 9 2 - ■ ' ' ,6• • 0 .jo .v.- 9-15.-0 • ■ •. ' ■ ' • ; -V ■ ■ . ■-•••. / ■ }f® n , ter^ ur y -• ' - : • lE3i73T • K.O'i 7i . 2j 8 7 19 0 " 8 0 0 . , . ...; . . : tbrlstcburch A .• ■■ 168,301 TlMj-j ;,ilu. ,; biu ■ ' e< • 10--6 0 . : 10 -7-6 - ■ 10' T O . 714 T r-iU,Y " Mijvil C6 '' :(il i. ..lsj 2..9 9 . 2 10 3. 210 0 BOO V elljngton Meat Bip ■ '. , ) . : ; : . 5 nil. s . 612 6 ; " r'Vr.'"- i- >:'l6s;76sb "-E3.767, > 4,- 1--8.' , ; 6.3 0 - ,/ B -3.'0 ' " f 6 6 J'^Vv-'-:-v ' ■■■'ii : -"ir'-u-"-'' ' .\8- i.'>-3.'-5 .3.:;: . 3 6-0 (9 s Wangannl -- v--- : 15350 i': ; 11.401. . . . & no./.. -' - B - ■-> ~ . ■' ; -- 's.- ' P«^ ; :' iy;AM.BaUway ,. 121.45!-'/, V.i - T ' 2 7 ,6 2'8 0 8 7 8'. SOP Jn/.'-' 473,811 . 113.7ol 8 • ml. 6, ....-> 6 5 0 . - • 'Stf'v.-iv-'JJmonSteam ; ... - 800,001 . - «i,531 - ,-l- , nu.-,; . 7i . 113 .0 . 1J4 m ' ' ' .- Vgtn.SteamPorry 46,25J, . . • 1 -i • u:l ' 6 ' ' ' ' .• : 4 ■■..■' '■ Westport . -v. £60.003 . 317.313 Sj. U -Hj . 6 19 0 71 o ■ -' 7- 0 0 ' 6 -5' 0 : JS " !P wo*oi.riEs: , - IJ -« :s V '/; I'aiapoi-. -V; JOO.TOO f 'S2.S5I -* ' ':5" -nllA.'-V6- tV' '■ • fc3*4j7 • • ':1V|'2W . fci • "•, ,, ,••• i it- •'••.'O'rt 0- Q fl ' ' 1-' ft ' -a 10 ft • • t0 ' <x,J '. ": WJ 6 --' S >-0, : • B 0 0 ;'K>. ; V-:l JO nagliyI!opJ..il,oil ii - ,.-,5-: 'nil, , ,j.o_o - 6 5-0 6.'2' 6 • • , *>)...V>.AtWUVV '.v-'.f.TC1.:- 0 '""-Vs 'o'' s ; !'3 9 ■'■ f 17 s ';}■ ■•'/ .i'a'HicevilloIjimi;- '7,(X)J "i.-■: ■■■"'SOJi' ■; ' 1- ' liur'T -'.(j. 1 , • ■: - , , .- ' .'.iv.2.'Candle -.n - - lu,l)3). . '' ..' ".r- Io v -w ■ v . - ' ,v ; '' v ! 7- ' 2ii;-o: '.7.2 ii';.'G. •' hi o 6/ 3 0 '£»i/.Papev Mills,:. • W,7oj 'y uii - j.,, 7-.- .-.j, a*c " 1 3 T T'3 3 fi n g ' ; " .vjolwU,- :y%.4l: : v;l, ill | . ; 0 :' r;v , : :v\.• * ;{ • UJ.UJJ ' ' t £ r /,67J - ; ""4• i; : ." r * 3 16'' G'" • 'i.v ■ i. -V 'fv^ : , v-'}' v Po. y ,: r. U>i65j »; 1 A'r / . ,...10,. ■''.'415.'»0 '4 17 ' 6 - • 415 0 V 'Q 8 -5 I; ■ 'Y ; ' ii'iybLOOa'" * I■ ■ '>r' l ';~ 1 . mi .—1' - V," 1 '" v \W '■ 'A'o*abS' v J ■'- SO.loi V '.'fc nil 1 ' -* ■ 10/ i -Riftn ' • .' i,o°.o. j/o o . 7 io;o: