FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 194, 11 May 1908, Page 10

FINANCE AND COMMERCE.

THE SHARE MARKET. ''• W-. Investment .shares with :v'ery few exceptions < ihow 'a -'decidedly,".weaker 'Tendency.'..Bank.',;of, ' . ■ ? Sew. Zealand shares, which changed hands at £9 9s'..'a'day or/two ago, were': on; Saturday. siTered for sale'at, .£9,75. 6d., ,and' a straight;' ? rat offer. of business would/no doubt result in; :ho shares'beihs'secured at something-less. It must not/be forgotten that a.half year's divv ■■'7: iend has accfuid.'on, these ishares," and .will' be '. oayable', towards- the. end of noxt_ month. Na-' ■ V.' tional Bank shares are. quiet,, with - -;C5 Gs/ -Financial shares are' dull,. <but with no. quotable change in; values;■' National Mortgage.; .' buyers, (£3,. sellers, : J!3 -Is." 6d.; ../Wellington Trust/and Loan; sellers, 1 1£7 lis.;-Loan; and; Mercantile, sellers, 5s. 1 Gas shares were iiri- , • changed:—Feilding Gas, buyers, 17s. Gd.; 'Wel■/■r. lington - .Gas,". sellersy, £19 jIOs: and- =69-.155: for - ' - : *the respective issues.-'/.There, were..sellers'.of. National Insurance shares' at 275. 6d., Cahtor- ■ bury/Frozen Meat at .£B,' and Christchurch Meat at JEIO.Gs. 6d. Gears were in firm; de- '• mand at 195./9 d. 'Wellington Woollens ' were /-,-- wanted at 615., and theT6 were sellers of Taupiri Coal at 19s„ 6d., Westport Coal at £7, Ley-. lahd-QSBribniTimber -£2 -35.,' N.Z:..'.Drugs„a/i| ■£2- lis;'/ Gd.,' and N.Z. Portland Cement at 28s. • ■ Taranalii .''Petroleum'/shares were ./decidedly,. 'V .weaker, -withbuyers <at. ss. ' 9d. t and'-sellers.. at ■ I 7s. Gd. :-- ;-Anticipations, as to j the';successful, ■: ; elimination .of rtheiwater .from the bore hava.; ; not ,been fulfilled',as quickly as.was expected, . < ■;.'; which: accounts - for. the' drop' ,in. values.; .The. Bhares are highly speculative, .and it must bo •/•''; expected that the slightest, adverse.information will depress the shares.

THE MINING MARKET.' .'"i ; There- was -trading in both Talismans and Waihis oil: Saturday,' but' the' former' do not V whibit- any improving ; tendency. Waihis keep V, firm.; The buying and selling quotations ~were - as under/.-r • ' '' " ■ . Sellers. : Sales. £ s. d. JC-s. d. : i ,£,s. ,d. Talisman .... 2 l,i 2 10 3 2 10- 0 Waihi. • ' ...' 910 6 9 12 6 / 9 11 0 ' "Waihl Consolidated 0 1 10 0 1-11 ■; , ■: —; —, Consolidated Gold: . 'Fields . ... . ... —- 10. 0 Blackwater... ...1 5 0, 1 6 0 • THE NATIONAL DEBT. ■ 'V The National Debt of Great Britain ; has been substantially reduced during the 'past three • years, the aptual amount of the: reduction being over ,E40,000,000. The history of the - National : Debt of -Great '.Britain runs back ■ ! to the' revolution which placed "William of V. Orange on the .Throne. . How the debt iias ' »r.:«n may be gathered from the following table:— t . t Year. • Events. '..Total Debt. .■ ; ; Revolution ... : ... . .. < '66i,268; . 1702 Accession of' Queen Anne' ... " 12,767,225 v 1714 Acccssion ; of George I. ' ,' ... '36,175,460 . 1727 Accession of George 11. ' ... 52,850,797 1748' Spanish .War ended - ... , 75,812,131; 1763 Peace of Paris ... ... . ..: 32,716,079 1775 American' War begun ...' ... 120,842,811 ■ 1784: American War ended ... ... 243,063,145 ."1792 French. War begun . .... .... 239,663,421' ' -'1802'. Peace of Amions .:. '..... < 537,653,908 '" 1815 Peace of Paris ... 861,039,0-19: 1554 Crimean War begun ... ... 801,226,354 1857 Crimean' War. ended " .... ... 837,144,597 • •1899 -Boor War begun ... ' / ... ... 628,021,572 ~ 1903' Boer War ended ... ... ... 770,778,763 1906 ....... : 743,219,977: / 1907 : 731,163,418 1908 : 713,133,418 5 By the end'of -the; year' it. is "anticipated that - the dobt-will -be further, reduced- to; ,£696,000,-' 000, 'that'is/about *',£17,000,000 will lie paid off during.' the current -financial year.V -Koughly , 80 per cent, of the British debt' is in the. form of Consols, and of this less than 10. per, cent, is in.-the form' of . certificates or" ' bonds, 90 'per -ceDt/ being' "inscribed," 'as'this Sena is, on the books of the Bank of England.' , CANADIAN'FINANCE. ' Mr. Canadian Minister : of Finance, .delivered, his Budget statement, on March 17. The Canadian fiscal year will now end with "March,' as is the case with New Zealand, and . for the year just closed . Mr.-Fielding; anticipated a surplus of : 19,000,000d015^ ' .The capital charges ;o£'the'year' amounted to ' 33,000,000d015. but'.'the additions to the net debt he anticipaMd-Avould be'iiot-more-than 12,000i000dols. (,£2,400,000).' The expansion' of business in Canada had somewhat outgrown the banking facilities, and it was necessary to make some further provision for meeting business requirements. To some extent, he thought; _ this might be met by the calling up of more' bank capital; that alone would hardly bo suf- „ Y ficient, , and;, he would propose to allow the • banks to issue an emergency circulation,, during the-crop-moving period; to *the'extent- Of: 15 • per cent. For this additional ■ circulation - lie ■V proposed that the banks should pay a tax to the Government not exceeding 5 per cent. CANADIAN 'BANKING. '•V.---.'''..'fTliiellijnes > ''6tates^that' Canadian banking : v - affairs; causing widespread .'discussion throughout the' Dominion of ' latb. '. The failuro of the Ontario Bank a few years ago, and the recent ; failure of the Sovereign .Bank, have ■ pi veil rise to a demand for a better check upon tho mothods of directors, and . questions are - now coming up before the,. Courts 'and before Parliament which will leafl to • much contention. Canadians have-great confidence 1 in their banking system, but there are certain, .weaknesses which they feel 1 might ..be eradicated.' For instance, it has been clearly that the general manager of the defunct Ontario Bank speculated, on behalf of the bank, with the funds of the institution. -It has also been shown that the returns made to tile Government in no way represented tho actual condition of the bank. Discussion respecting theso irregularities has been waxing' warmer and warmer among the shareholders as it becomes more and more ovident that they will lose - their entire investment, and possibly be called upon for a very considerable proportion of

their double liability as well. The shareholders are 'determined to see/if the directors cannot' -VOsponsible-forj not knowing of the'general manager. ~ . .! ( Th the 'ICa'hji.'diaiC'Pii'rliament an ■ interesting debate' foot/place;',when a ■ member nioved a'mqhdments to th'e'Ban'king Act, under the fol- ■ lowing •points-.-^(l) provide for. Government inspection. ".'(2) To ; .prqivido more'stringent regu-. • lawns'as';tp circulation. (3) To make provi- 1 '.'si6n"as : to 'percentage-of. capital' and resorve that.may.'b'e'.lbaned to|,any one.borrower. .(4) To make provision for percentage that, a bank 'may 'loan''to its! combined directors. -(5) To or discount that ■banks'' 'iriay ton tract /for. ' (fi) To revisethe 'powers'of; the Batikfers' Association. His Contention "was that the'banks ,were unable, to provide .sufficiently for the- wants of Canadian during -.the crop • movement last autumn, arid' that this was due to the large amount of their foreign loans and investments.., had. been supplied to /New York'in the J 'shape of call loans. In addition, Canadian banks had from time to time financed a large jmmber of undertakings, and he. poin'te'd' qijt how ona'.pf.'.the banks-, had' sup-1 .ported; th'^-market-oh purchases of some Amcri,'can stocks which how/showed'a: heavy, loss. Mr: 'Yielding .replied'by, quoting from an address of 'the.;president' of the: Canadian Bankers'. Asso-. iciation; 'in .which/he • said that .a' year' provi-;onsl?i';wh^tt".these"-'foreign .loans amounted to 'foreign'' deposits' amounted to over ■£11,000,000,'' So; that the! net-amount of foreign, but . i i£B,ooo,pop. Every dollar, of this ' was loaried ori -call, ;at • short date, on /ample sbcurit.v, and constituted a part of tho reserves of ; Being a portion of the reserves', the .Canadian public would' derive no benefit froui'it if it were called, in to-morrow. The choice given the. banks, was, between retaining Hhe money;, unproductive in its, vaults, or upon interest abroad. He/ disagreed altogether with the idea of Government inspection,' as this would in a sense make the Government' responsible. The remedy lay in the hands of the shareholders.;,,', Noteholders,! were, absolutely •guaranteed; but shareholders incurred a double liability. Surely they ought to bo sufficiently "interested'to'see-.that; itheir affairs were properly inspected and protected without calling upon the. Government, to perform ;this function for them. • '

MINING NEWS. ' • 'j-fBT:'-TELEGRAPH,- —PRESS. ASSOCIATION.] ... i,: .v. - .-,. ... " REEifrqvMay 9The following mining returns are to hand:— Pactolus No,:l, 1246z.,19dwt. for=l2o hours; No. 2,: 1 500z. : ,,f0r 114, hours.;' , .: ' '' . Dunedin,-May. 9. Further dredging returns for-' the week are:—Waikaka United No. 1, 18oz. ldwt.; No. 2, '41oz: 6dwt:; Rising Sun, 420z.; Punt, 230z... 6dwt.; Rise and Shine No. 1, 520z. 3dwt.; No. 2, -35oz.'.10dwt*,- >. .-I .. .. , ,/ " i 'Dunedin, May 10. /'■ Dredging returnsr Golden Bed, 400z.; Alexandra Eureka, 31oz. 16dwts.; Sandy Point, '27flZv" 12dw.ts.'; Wa'ikaka Queen, 250z. 17dwts.; Clutha-'- River, .17oz: * 16dwts.; Ollrig, 17oz. 2dwts. : ; Molyneaux Hydraulic, 12oz. Bdwts.; Charlton. Creek," lloz. lOdwts. \'(BY TELEGRAPH.—SPECIAL CORRESPONDENT.) Reefton, May .9. , The new Big River mine manager reports for the past week as follows:—No. 9level: In No. 3 stope, going north on the western reef, there is sft. of'stone; on the branch reef, there is Gft.-'. of stone; in No. 4 stope on the branch reef thero- ; is:'.Bft.-"of';'stone;--in No. 2 stope, goiuj. north; 'on''the'-eastern block, there is ,3ft. of' stone;''in No. 3 stope, going north,-on this block, we are stoping blank ground; in No. 3 stope;;going'south,J b'ii the.same block, there is' 15in. the stopes over No. 2 level ..the stone is small,, but more -defined,' and has every appearance of_ widening. 125 ions have been, raised' for*the^wieek. (by TELEGRAPH.—SrECIAL CORRESPONDENT.) ■-■■■-CHRisTCHnitcH, May 9. Two Christchurch residents, Dr. F. A. Neeley and Mr.",W. Beece,~'have recently {laid a visit to the works now under- construction for the je-opening.pf the. Boss .Goldfields. Dr. Neeley, who Returned to- Christchurch last,night, told.a .reporter :thatvmu6h of the machinery for haS been purchased. Two hundred ;an'd:«fifty poles ihave-i-been erected, and four miles of tunnelling' for the conveyance of 'the water from, Lake.-Kanieri to the power station has been done. wTliis' will entirely obviate the possibility of "vpshouts that might occur if openiraces were.used. It is anticipated that actual operations'wiircßmmenee in about nine months. ' JLIYE, STOCK SALES. . £Mesar£'Z£. M. and 1 Co., Ltd., 1 report :—On Friday our" sale was well attended. Considering the rough state of the weather a good'entry of "pigs cftule to,hand, the majority being of good class. Good stores are still in stronger demand"than small sorts. Only a small entry of-.-poultry came to hand. Produce, was plentiful and the demand good. Wo iquote:—Pigs—Wea'ners, 2s. 3d., 2s. !9d. 3s 45., 45.. 6d., 55., SS. 3d., 65.; slips, Bs., 9s 10s ' lis. j'stores, 175." 6d„ 19s. Gd„ 205.; emptv'=ows 435. 6d. Poultry.—Hens, ls„ Is. 3d., Is 4d ,25.;.rp05ter5,.15.,.15.,,3d.; ducks, Is. sd. Produce.—Potatoes, pig,' 35.; eating, 65., 8s Gd 105..-per., sack; onions; Id. to ..lid. per lb. - carrots (T 501b., ls.^ 9d.: parsnips','. 401b., 2s'.' Id.: green'- tomatoes, 241b. boxes, Is. -9d., ripe 3s Gd.. - , :: :.' A NOTE' OF WARNING. . (DT TELEBRATH—SPECIAL CORRESPONDENT.) .. ' . ~Christciiurch, May 9. In the course of a'very comprehensive presidential address before i ho South Cantorbui'3* Chamber of -Commerce, Mr. J. P. • Newman uttored a note of warning. Speaking of the credit which has been freely given, he said that with the easy conditions of tho money market " that'had -for a' considerable time .post.

been ruling, it was perhaps only a natural serjueneo tliat the terms of credit should 1)0 very elastic, and tho facilities for obtaining advances had been perhaps absurdly- easy. With the expansion of business, and vrith everincreasing competition, there was a disposition to " push" business and keep turning over the stock largely on credit. Business failures had of late years, fortur.atoly, been rarer than they used to be, and actual ascertained losses had not boon heavy, but, 'assuming that tlioy were approaching a period of lean years with a pronounced scarcity of money, what position would they then find somo 20 per cent, to 30 per cont. of their ledger accounts to be in? It was a very good time just now to set their ho'use ; in order, and, if no stringency did occur, it would not do tho least harm to revert to more sober terms of credit.

WHEAT. ' > (BY TET.EGRArH.—SrECIAL CORRESPONDENT.) Dunedin, May 9. For velvet wheat 4s. 9d. on trucks was asked to-day, and some holders hope for the longpredicted rise to ss. BANK OF ENGLAND RETURN. 6J TELEGRAPH —ritESS ASSOCIATION —COPYRIGHT London, May 8. The Bank ,of England return, issued for tho week ending Wednesday, May 6, is as under: — ; -1 ISSUE Department • Note Issue je54.361.0C0 Gov. debt £11,015,000 ' Other securities ... 7.434,000 Gold ... S,'.q £2,000 £51,501,000 £54,381,000 Banking Department. Proprietors' Govt. Eccuricapitol £14,553,000 tios ... £14,315,000 Public de- Other securiposits ... 8,093,000 ties ... £9,663,000 Other fle•posils ...' 44,365,000 Notes „• 25,656,000, Hest, 7-day. and other Coin ••• 1,639,000 bills ... 3.967,000 ' £71,173,000 . . £71,173,000 Tho leading items of the Bank ,of England return afford thp following comparison:— frhis week. Last week. Last year.: '. Bullion 35,032,003 35.011,000 34,438,000 Reserve 27,195,000' 27,154,000 '■ 25,077,000 Note circulation 21,725.000 SB.b-J6.C00 28,058,000 Public Deposits S,MB.COO 9,99i,C00 8.500.000 Other Deposits 44,365,000. 43,133,000 ' 45,135,000 Proportion' of \ reserve to \ liabiUties ... £0.9-2 51.04- 46.70 GOVERNMENT SECURITIES. The following- are tho latest quotations for Government securities, with a comparison of.those ruling last week: — _

Variations. _ Prico compared • i inco Wlt h ■ • ' • ' ■ last week. r —— ; ' " g. d. 2$ %ImporialConsols... 85 17 C l2sG<Tlowor 4 „ N.5."W.1903Ja.n.-Jtily ... 108 15 0 to. lower 3i „ K.5.W.1018 Mar-Soph ... 99 5 0' Unchanged '3 „ N.S.W. 1935 Apl.-Oct. ... 07 15 0 10s. lowt-: 4 „ Vic. 1920 Jan.-July 101 5 0 . Unchanged 35'.. Vic. 1921-6 Jan.-July ... TOO 10 0- Unchanged •3 ~ Vic. 1929-49 Jan.-July ... 89 10- 0 Unchanged 35 „ S.A. 1916 Jan.-July ... 100 0 0 Unchanged 3 „ S.A. 1916 Jan.-July ... 87 0 0 Unchanged/ 4•„ QTdl92l-30Jan.-July ... 106 0 0 Unchangod 35'.. QTdl92l-30Jan.-July ... 99 7 G 12s t>d lowei' 1 3 „ QTc11922-47Jan.-July ' ... "88 17 6 12s Git lower I■ „ N.Z, 1920 May-Nov. ; .... 103 10 0 Unchanged 35 „ NiZ. 1940' Jan.-July 100 5 0 Unchanged 3 „N.Z. 1940 Jan.-July . ... 83 0 0 '30j. lower 3$ „ W.A.1920-35Afay-Xov 98 30 0 103. higher ' 3 „ "\V.A.1915-35May-Nov ... 81 0 0 ss. higher •' Si „ Tas. 1920-40 Jan.-July ... 100 . 5 0 ss. higher 8.. Tas. 1920-40 Jan.-July t ... 89 0 0 Unchp.ngod EUROPEAN MONEY MARKETS. . The Bank of • discount • rate is 3 per cent., to which it was reduced on March 19. '• v. - Tho London open market rate of discount for best, three months', hills is' 1 lower at 2 7-16 th per cent. 1 ' s'' The Paris discount rate is J lower at 2 5-Bth per 'cent. ,The Berlin discount rate is i lower at 4'l-Bth per cent.. . ... ' ■ COLONIAL AND OTHER PRODUCE. Wheat—Trade continues to improve on decreased quantity afloat and firmer markets for American.' 'Cargoes are'firiuly held, 375. Gd. is asked for Victorian January shipment, 38s. :for (^()uth[[ .Australian..;.;March ...shipmejif. |J ppr < Btedmer ( ' ! ari(lf37s'.. O'di/ for steainer parcels'. A,pifil-: May shipment. There is an • improved demand ■ for Australian spot at 38s. Gd. to 395. jGd.. Flour.—There is more inquiry, Australian' is quoted at 275. 6d. to 28s. 6d. in London, .whilst 28s. is,asked in Glasgow for May ship'meat.'iv ■■■ ■■•> . Butter.—The market for colonial is slightly easier, and quotations are 2s. cheaper owing to warmer weather and fair arrivals of Siberian.' There is a good demand for secondary Australian at 102s.'to 101s. ' Sugar.—German lis. Bd. per cent., first marks 13s. 4d. '' , Wool.—Tho Bradford tops market is quiet and prices are unchanged. Sheepskins.—At the sheepskin sales SOOOAustralian and 1200, South American were offered. There was brisk bidding for the bulk of,'old. As compared. with March .sales merino combings declined five farthings, clothings Id. to Jd.; half-breds Id., medium-crossbrcds id. to ljd., and coarse lj-d. per lb. , ' THE METAL-MARKETS. •. Copper.—On spot 10s. lower at' 575., three months 7s. 6d. lower at £57 15s. per ton. Tin.—On spot ,£3 10s. lower at =£139 55., three months ii 3 lower at J139 per ton. . Lead.—ss. lower at .£l3 por ton. Spelter.—*£2o 15s. per' ton. , Iron.—3s. 6d. higher at 51s. lOd. per ton. Silver, 2s. 0 3-lGd. per oif.

WELLINGTON SHARE LIST. Reserve .?§| T ,„= ■ PRICES. Y j nM .Canital - Fund, and bl . !, - ■■, COMPANY, . : Paid Up. Balance fZT TmWn, '■'.',.'-V- • • Porwoid.p <(i shar «- g Buyer. Seller. Investor. -vVA ' BANKS.: £ £ £ £ .£ £ s. d. £ s. d. i s. d. £ s. (1. New Zealand w . ... 2,000,000 381,676 3* 3i' 10 9 9 0 9 12 0 3 0 5 National ."...; ■■../ ; _ ... 375.000 ' 335,318 : si .15 . 13 S J 0 5 6 6 5 5 9 5 13 5 INSURANCE. . , ' ' 1 National ... . ... . .-.'100.000 240,339' J onl'td, 15 ' 17-3 New Zealand ... w 300,000 396,674 3 8 10 317 0 1 ■ ■ , ' South British ... ... , j». 100,000 ,474,912 J 41 10 217 6 r - j, ; : ; Standard ... ' ...' ..„• ... ' >-. .. 75,000 92,386 J. 0i 10 13 0 1 3 D , FINANCIAL. -' Equitablo Building ... -50,000 22,000' 5 -5 10 .. . 10 3 0 . . .Metropolitan Building "60,742 ' 5,688 10 'nil' 7 , : :> J Wellington Invest. 60,000 ■ 3,933 i J. * G 012 3 011 G 5 4 i ...'"'■."-"Wellington Trust and Loan — 101,250 14,334 5 5 '8 7 0 ,0 7 11 6 7 ,9 6 5 7 0 ':■■■ ■ - -National 'Mortgage ... ... 200,000 127,746 2 8 10 ' 316 310 6 11 1 ". N.z. and Eivor. Plato . ... , .... 300,000 1 nil 7 1 13.0 , 1 12 -9 1 12 3 4. 6 4 ; ' Loan and Mercantile \, ..i ' 135,223',' 315,133 i 65 5 ■■ *',!■ .,0, 5 0 I S O 10 0 0 .OAS. v "'-"r - / ' - ' A--:"'.'Auckland;:...; 180.370 5 '°'n'il 16'." '* . \ ■[ Christchurch ... ... ; ... ... .'160,000 . 70,918 ■ - 6 '•■nil' 10 . 10 3 6 10 0 0 5 0 0 \ Feildirfg. ... ...(, ... '12,030. -108'' l ••■nil '017 0' "...Gisborne ... 17,300. -.10,565. '1 nil. 132-3.9'.6 . 2 10 . 2 10 0 5 10 0 Hawera ... . ... ... 8,250 1 ■ -694 ' 3 1 10 • •New Plymouth ... . ... ... ' .18,000 3459 5 nil. 10 • ' r ■ ' '•/ Kapler ... ).. . -10 nil 35 . •'. ■ '■« •- ['49,957 23,184. 5 . 5. 15 PElmerston 'North „ 27,000 11,092 41 : °4 10 "" : 1 .V. ollington. ... M ... „ 1 71 to. 10 . nil 10 ,. 1910 0 „ .... ... . ... 1- 'Visa 5 s . 10 915 0" ;i; MEAT; ' ''/V : ." ''■• >■. . . Canterbury ... w -,u 183,727 '32,'S' .75 . ;2j; _6 7..io; 0 8 0 0 ;,- :Onriatchureh .... ,,-_• . 165,920 - 77,642 10 nil- 8 10 6-0 10 7 6 10 7 0 7 14. 7 / . . Gear ... | , , 1 -nil . 12?. ■ 2 9,6 , 2 10 6 2 10 0 5 0 0 p'..":\.V -, r V'-p 1 4 "6. 12} 9 15 0 10 0 0 • • VvelhnBton Meat Export ... _ j . . > . ; .. . 5 -.1 n jj - s 5 ... •- J 105,766 53.7G7 4 1 ' 8 5 ,2 0 5 2 0 6 5 6 .'J ... - ) 2| 2i 8 . 3 'S 0 3 5 0 0 9 3 • „• .Wanganui >. . 10,315 5 nil S /TRanbpor 1 .':'/."' j Vs"' '.'i ■ - ■ " . W. and JI. Eailway u. 170,000 121,452 1 4 7 2 7 3 ,2 9 0 2 8 0 2 18 4 . . K.Z. Shipping .- 473,810 110,760 8 - nil '5 . • 6 5 0 -i- .-..Union Steam ... ... V ;...•''. 800,009'. 381,917. i. .1; V.nil •■ '75M.13..9 -115 0 .. Wgtn. Steam Ferry ...., ... 46,250 65 1 -nil 6 • • . 'S '■ . coal. ' \7c3tport ... ... •■...- .... ... 2SO,rOO 117,215- :31" .14 : 121 618 0 7 O'O 6 19. 9 6 5 0 'Xaupiri ... 85.000 5,339 1 nil 7J .0 19 6 0 19.6 7 14 0 ; WOOLLEN, " 7 v . • • ' Kaiapoi • ... icc.000 32,554 ' 5 ' nil 65 ' 'A v .Mosgiel ' ... j '■■■ .'' 63,457 17,212 ' 3s :"lj. .4 ,3 0.0 ,-3 3 6 3 1 0 4 12 0 .Wellington, ... ;.. •'S2.C25 ' 24,368 4 . 1 6 3"1. 0. 3 5.0 3 0, 0 8 0.0 . MISCELLANEOUS. / ' " . " ' .'i' "V-l'i z V Donagby Kope .23,500 ... ' 5 nil 6 0 0 ''6 5 0 6 1 0 . Leyland and O'Brien ' ... ; .... ' 35,000 , 37,761 : ;1 nil 15 ;.\ ... t 2 3 0 1 .. Mauriceville Lime:' ..j ... ... .7,000. - '205.; *1 i* nil ■• 8 : N '■ . N.Z. Candlo . ... • ... ... 10,000' - 876 10 ' nil 8 K.Z. Drugs ... '...' 200,000 36,7302 .nil,. .7 311 0 2 11 0 2 11 0 6 3 0 -Paper Mills ... .... ... 94,775 . .'"1,177"- 1 --nil' - 7 .1 3 6 1 3 0 1 3 3 6 0 5. S ,. K.Z. Cement ...',:..., ... ..: 40,COD 2,013 .1 ' nil — 111 0 111 6 , , .' llanning and,Co. ... ... ... 86,000 ■ 37,670 4 1" 10 317-6 4 0 0 Ward and Co. ... ... '60,000 ' 30,655 4 .1' 10 - 4 15 0 .5 0 0 4 15 0 8 8,5 TTgtn. .Opera House ... ... . ... ; 18,630.- ; ■ 1,705 • 5 - nil. \ . V Wgtn. JFresh'Food ■ ... .!.• . 23,261 j- , '1 \nil' .... * - i x Whitcombe and Tombs ... 7 46,250' , 30,156 5 nil 19 , . 4 8 0 .Sharland, Ltd. ... -.... ...' ..: '-48,676 '.' 7 ' n\ _ 0 19. 6 . 1 0 0 1 0 0 7 10 0