FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 227, 18 June 1908, Page 10

FINANCE AND COMMERCE.

I". :■ v ■' .- 1 , WELLINGTON;; S H AR ; E ■ LIST;'

: . TEE SHARE MARKET. • ■ : "A few more quotations appeared on' the list yesterday, but' of business there was' very little, a line of Manning's Brewery shares , finding a buyer at .£3 16s. 6d7. Bank shares are , quiet, but the balance-sheet issued by the Bank of New Zealand has .caused inquiries for tho shards,. buyers offeringy.£B ,17s.' 6'd.,,'.and: sellers' , wanting .£9 25.'." It is generally believed that •v • considerable pressure has been brought, to. bear, on the directors to increase the dividend; but the latter stand, firm, and insist that the rev. ;;. servo fund must be bnilt.np to a miljio'ii; ster. ling bofpre thero can be any increasod-distri- ; bution to shareholders.; Bank of Now-Zealand ' shares' have been-forced up .by, speculators, i;.- many of whom are now wanting to see a.better, return for their money. For a long ;time the shares have been at a fancy price, and although ■/-■• they have gone. back, a little, . they,, aro ; still; ..'■ ' unreasonably high on a 10 per cent, dividend.' For National Bank: shares there ivere buyers ;■ at £u 45., and sellers at £5 ss. Financial shares were, steady, with buyers of Wellington Trust j .i, - and Loan at £7 9s. 6d., and Wellington Deposit f ?.t l B3. 9d. There were buyers of Equitable i. ■ Building at. <£10 Wellington #?•'' ment atl2s. 3d. Insurance shares continue qpiet,-," . vnth. sellers of New Zealands at .£3 ' 16s: '-and ir . South British at '£2 16s. Other "quotations | ! ;-. . .were:—Feilding'Gas, sellers 20s. 3d.; Christ1. 'church Meat, sellers <£10 55.; Manawatu Rails, i,-; -. sellers 495.; Union Steam, sellers,' ■'355.'',., fid.; [. i Wellington Woollen, buyers ■£& '7sirsellers~i®s- - : Us.; Westport Coal, sellers <£G ISs.; levland 1 O'Brien Timber, buyers 425. 6d.; Manning and- ,-■■■■■■. Co. Brewery shares, buyers w£3 165.; Sharland's , yirdinary and preference, sellers 20s. THE MINING MARKET.' ■ The mining market was rather slow yesterday; a sale of Talisman's at 465., 9d. was all the . business reported. v : , Talismans are slow., in- ■' /advancing, and this'we attribute to tlio number of weak holders. Of the ,300,000 shares in the company considerably oyer 200,000:.are'held r.-. in New Zealand, which is "a far larger propor- ' ..-Hon than the' Dominion can conveniently carry |; just now and maintain a firm market. With i ■ tho increased dividend and improved outlook }/••:• there ought not. to, be much difficulty. in' getj • ting London to take up some of the Now Zea-.. |- land shares, and they ought, to. bo good buying, j'-, 'at 475. to 48s. "If"the'-local markets\aro re-' lieved of 20,000- or 30,000"'shares-an improve-, :. ■ ment: in values would speedily," iollow., „Waihi . j . ibares keep steady' at £S 2s. buyers and .£9 3s. ' sellers. The' quotations yesterday were as ; ander:— ■' ~. ~ ... , .

i ■ LONDON'S MEAT CONSUMPTION. . ; |, . ' An idea of the quantity of meat, poultry, I j, ' ind fish consumed by the population of Lon- ' don in the course of a year is conveyed in j ,/ the report for '1907 of the, central markets t. . committee of the London City Corporation,' I \ the body which ■ controls' the great meat market nt Smithfield.' Tho figures given aroof intorcst. The total supplies to the market, during tho 4 ..last.'four years compare thus:—l9o4, : 418,199 • tons; 1905, tons; 1906, 423,896 tons; and : 1907, 419,037. tons. The falling off in the -aggregate supplies to. the markets for the 'year" 1907, though comparatively small,' is; the'committee states, an indication of the changes that are taking place in tho distribution by ' the" large importers of chilled and frozen meat; [, .... The sources of supply are shown in the'.table H'hich follows:—

( Of the 417,057 tons of produce dealt with in [■ the meat, poultry and provision sections of {■■ the market during, the year, 85,861' tons, or j- "0.5 per cent, only," were-, products of the I United Kingdom, and 331,198 tons, or 79.5 per. I 1 cent., colonial and foreign produce. The report states that the facilities afforded'colonial and foreign competition have reduced the } v home producer to a minor position, and to I such a degree that the daily demands of the i 6,000,000 consumers in Greater London are • (.applied by overseas competitors to thb ex- . tent of i tons' out of every 5 tons of produce !. . passing through ;the central markets. The I ' analysis of supplies dealt with in the year in the meat, poultry and provision sections (.' shows 51.3 per cent., or 213,955 tons, as beef i and veal; 30.4 per cent., or 126,019 tons, mut- | . "ton and lamb; 7.G per cent., . .or 31,695 tons, j .. pork; 2.8 per cent., or 11,882 tons,'poultry, ; game and rabbits; and 7.9 per cent., or: j tons, other provisions. Approximately, tho demand upon the live stock of Great Britain and other countries to maintain tho year's; i , supplies may be stated as 720,000 bullocks, £•' 6,150,000 sheep, and 800,000 pigs. i ' The Customs-revonue collected at Welling. : ton yesterday amounted to <£3811 12s. sd. . EEEPTON MINES. [Br rSLEOEAPn.—PEB63 ASSOGUTIOK.r i ■_ Reef ton, June 17. | The Progress Mines during May crushed 4552 ; tons, including 880' tons eyanided and concanj trates 450 tons, the value being JC4BM 7s. No. i ' alterations have been made in tho. surface I equipment. Development work underground exj . posed nothing of great importance. ! Wealth of Nations Mine: The development r .... ' work for .May was successful in locating a | Binall footwall of block stone in No. 9 level,

which at the end :of May-shad,been driven on 29ft., .showing' a -'refcf- 1 aiveragiiig':27in. wide, and ■assaying 9.2dwfc. ; per ton.^On'th« surface headway has been made with excavations for tho battery, tho sludge channel has been completed, and a chamber- is being-cut to be lined with concrete, where a Pelton/wheel and driving gear bo-installed. 'Work-on the water race has .rtadd'faif'headway I ,'-fionsidering the weather. Tho' battery., .crushed 1120 tons (including cyahSde output'of-595 T tons),-for. a' value- of .£2037. • Golden Fleece: Steady headway has been made in driving on-tho level south. 7The level ■:is.'unfortunately ',60? far a disappointment. Tho total length of reef exposed is SOft., tho average ; width (approximating ,13in., and the valuo about 5-idwt. Blackwater' Mines: Dnring May tho development work has steadily proceeded with fairly .<fgoo ( d«resultsj-the reef averaging 29ft. 6in., and "the' assaying' 7.4dwt.'' per 'ton.' .Tho reef 'is continuous, the exception of a short distance of abdu£ oft'.)' where' it is almost cut out. When stoping proceeds, the probability is that tho stone will be continuous above the levol. No. 3 level north advanced 77ft. This reef avoraged 'in' width'22ft.""4inv and in value 14.86dwt. '•jHßrrf there ifeaishorb blaiik of' about sft., otherwise the'storieik 1 " continuous. ' The rise has been I-carried. 74ft>y'<an3><tbe stone is 26in. wideb and 9.7dwt. in value. Tho rise'has since been connected with the Joker level. Good headway has | been made with .the,,battery site. The bulk of ;tho; machinery .-is Jn: position, and tho lining "of' the ore bins' h'as~b'een""'completed. Four of the. nine ;eyanide • plants, have ,been completed. Unless unforseeii circumstances arise crushing will be commenced during July. ' The' interim "'return of the New Big River gives 4350z. 6dwt. melted gold, valued at .£1750, from 306 tons, battery only. I (BY TELEGRAPH—PBES9 ASSOCIATION.) , I"' ' ' Dunedin, June 17. Stock Exchange sales.—Rise and Shine, JCI 12s.'; N.Z.jEaper Mills,'i£l;2s.. STOCK SALES. •. Messrs. Dalgety and Co. report:—At the Wansanui salo yesterday, stock came forward j iii'excess'of advertised entries, 3500 sheep and i; 250 cattle-being., yarded.. The sheep consisted mostly of store wethers, for which thero was a very, slack"demand.' ' A "■nice line of specially advertised two-tooth wothers mado 14s, The ,bulk-of- the cattle entry was cleared at. current rates. Quotations:—Store four-tooth wethers, 125.;-good two-tooth forward wothers, 145.; s.m. ewes, Bs,; inforior.lambs, 55.; fat cows, £5 Is.; low "conditioned 'SJ'-year 'steers, .£4; low conditioned three-year steers, J)3 to £3 ss. 6d.; twoyear steers, 50s. to 525. 6d.; yearling heifers, 255.;. mixed, weanors, 14s. 6d.; small weaners, 75."6 d. ;'st6re''cows, 30s. to.iOs. 1 Messrs. Dalgety and Company, Ltd., report having held their usual • fortnightly sale at their Masterton yards yesterday. Entries did -not como: forward up to advertised numbers, itlio yarding being principally ewes in lamb and wothers.' There was a fair attendance of the- public, 'but., bidding was not brisk, although tho firm managed to dispose of the bulk of the-catalogue at satisfactory rates. Only a few pens of cattle were yarded. They quote- as follows:—2-tooth wethers, 12s. to 13s. Id.; fat ewes, 12s. to 12s. 7d.; forward' ewes, 9s. Bd.;'small 2-tobth""wethers, lis. lOd.; cull lambs, 4s. 6d. to ss. lid.; s.m. ewos in lamb, 9s. 7d.; : ewes in lamb, 9s. 4d. to 12s. 5d.; springing; heifersr<£s. i,'; • - (B T - TELEQ RATH—PRESS ASSOCIATION.) Christchurch, June 17. ■V A't'-'the stock market to-day, the entries, ■ except of fat cattle, were smaller than' of late, and there was a more limited attendance in consequence of the inclement weather. " Store sheep showed no change, and fat lambs wero very firm. Beef wa3 in fair demand;'and pigs sold well. The yarding of store . sheep and consisted principally of lambs ' and wethers. Included in tho-entry werei a few lots of Nelson sheep, 'tha 1 balance of a large number that wero •brought into Canterbury some weeks ago. For forward lambs and wethers late rates wero maintained, though tho demand was not active. A lino of wethers, well forward, made 16s. -id.; others,l4s.\Gd. to 155.; and backward sorts, .10s. to lls. 6d.; forward lambs, 9s. Cd. to 10s. 6d.; and lighter, 7s. 6d. to 9s. A, lino of small two-tooth halfbred ewes mado lis.. 6d. Thero, was a smaller yarding of fat laml)s ! 'than -for''Several" weeks past, and the quality was very mixed," only a small proportion being well grown and prime. Bidding was fairly, brisk, and ..prices wero rather firmer, nearly ali the lots going for export. Tegs made 17s. Gd. to 18s. lOd.; ordinary weights,' 13s. ,to 17s.'; and light and inferior stud' lots, 9s. to 12s. 6d. The entry of fat sheep was hot so largo as of late, and thero 'was a better proportion of wothers. Tho bulk of the yarding was aged owes and light wethers. Competition was fairly keen, tho export buyers oporating-nn both wethers and ewes, but wore generally outbid by tho butchers, with tho result that prices firmed about Is. per head. The range'of prices was: Prime wethers, 18s'. Gd. to. 225. 3d.; a few extra, to'24s.; lighter, 14s. ;Bdr*to 18s.; prime ewes, 15s; Cd. to 18s. 13s. to 35b. ; light and aged, Ss. to 12s. Cd.; prime merino •wethers,- 13s. to 15s.— The yarding of fat cattle totalled-356.head,..a..fair, proportion being of prime handy, weights. There was a fair demand after prices hrid"been established, and passed-in lots, at the. opening of . tho salo wero afterwards sold. Primo beof mado 225. Gd. to 255.; rnddjum,; 205....t0 ,225. 6(1.; and cow and inferior, 17s. to 19s. 6d. per 1001b. The general ran;;o of prices was: Stcrra, £6 to jEll 55.; '.extra, to J213; heifers, £i lis. Sd. to 'd6B 17s. 6d.; extra, to ilO 55.; and cows, £i 10s. to £1 15s. Veal chltcs mado is. Od. to G2s. Gd., according to size and quality. Tho .yarding of pigs ,was, increased by a line of '95 "froW the ' Chathams, "of which about 80. wero f#t. The local supplies being small, .there,was a good demand.for all classes, and prices- were viii'-y fim.i I'Chatham (Hand fats made 50s. to '605., aiid' the stores 265. to 40s. Choppers made ,£3 XOs. -tQ J£sj hwrx bawaers,

6f)s. to 725.; and lighter, 48s. to 50s. (equal to 53d. per lb.); heavy porkers, 38k. to 'Ills.; and lighter, 325. to 38s. (enuiil to Cel. per lb.), 'i'he stores were suiull, and mado lis. to 205., and weaners 10s. to 12s. lid. (BY Tr.r.EHRAPII—Pr.fS'i ASSOCIATION.) Duncdin, Juno 17. At Burnside stock market, 27-10 fat sheop • were penned, a big yarding, including several pens of prima quality, and was better than . for some weoks, but tlio sale was dragging throughout, and values were easier than last week. Best wethers, 19s. to 215.; extra, 225. 6d. to 23a.; medium, 17c. to 18s.; inferior, 12s. to 14s. ,9d.; best owes, 14s. to 15a. 9(1.; medium, 10s. to 135.; inferior, ss. to Bs. 6(1. Fat lambs, 1043 yarded. A £ood yarding. 1 rices were, i£ anything, not quite so good as last week. A few good tegs were passed at 16s. Gd. Best, Its. to lGs.; medium. 12s.' to 135.; inferior, 9s. to lis. Pigs, about 100 yarded. A yarding. Prices were much the same as last week. Suckers, Bs. ™ Us-: slips, -12s. to lGs.; stores, 18s. to 235. Gd.; porkers, 355. to n£2; baconcrs, .£2 10s. to ,£3; choppers, up to G7s. Pat cattle, 222 yarded. Prime cattle showed an improvement on last week's quotations, but medium and light-weights and cows and heifers were hard to sell. Extra bullocks, -ClO 17s. Gd.; befit, from £9 to «ElO as.; medium, ,£S Gs. to C!>- . heifers, from £i to £b 10s.,- others, from'<£ 3 10s. * PRICE OF FLOUR REDUCED. [BT TILKOUAPE. —I'R;ISS ASSOCIATION.] Christchurch, June 37. The directors of the New Zealand Flourmillers' Association met in this city to-day, and dccided to reduce the price of flour from ,£ll 10s. •to £11 per ton. Tho reduction was to somo extent decided upon, it is understood, on account of recent heavy importations of.jlour from outside tho Dominion. N.Z. AND RIVER PLATE* CO. [BT TELBGEAPH. —PBESS ASSOCIATION.] Auckland, June 17. The local offices of the New Zealand and River Plate Co. has been advised that an interim dividend at the rate of- 8 per cent, per annum, for the six months ending October 31, will be paid on July 3. THE METAL MARKETS. ttY TZLEGP.APH—MEBS ASSOCIATION—COPYBIGU7 London, June 15. Copper, on the spot, .£SB ss.' per' ton; 'three months, £58 10s. Tin.—Spot, .£l29'per ton; three months. ,£129 15s. BANK SHARES AND DEBENTURES.. £Y TELEGIIAPJJ —PEESS ASSOCIATION —COPYRIGHT. ' , , London, Juno 15. Bank shares.—New South Wales, buyers 40i, sellers '414; Union, buyers 62, sellers 63. New Zealand Loan and Mercantile debentures, 93. , ' AUSTRALIAN PRODUCE. at TELEB&APH —PRESS ASSOCIATION—COPTRIGJTT .. , ™ Sydney, Juno 16. Wheat, 4s. 4}d. Flour, Oats, New Zoaland gartons and ■ Algerian seeding, 3s. Bd. to 3s. 9d. Barley, Cape, 4s. 9d. Maizo, 4s. 3d. to 4s. sd. Bran and pollard, Is. sd. Potatoes, Tasinanians, .£4 to JM 10s. Onions, Victorian, Jul 10s. to £&. Butter, special, 12Gs.; prime, 120s, to 1225. Cheese, 6d. to B}d. '.Bacon, 7Jd. ■ _ , , Melbourne, Juno 16. '.Wheat, from -4s. 3d. Flour, 10s.' Oats, quiet; prime Algerian, 3s. 6d. Barley, Capo feeding, 3s. lid.; English malting, ss. 6d'. Maizo, 4s. sd. Bran and pollard, Is. sd. Potatoes, £1 ss. to w£s. Onions, .£6 15s. to £7. , Adelaide, .Tune 16. < Wheat weakor, 4s. lid. Flour, JSB 10s. Bran and pollard, Is. 3d.

' Boaarve'. J*£ T.ui,i »HI' PRICES.' rield COHPAST. ~ "J? 1 !' 1 and •= lity pot <S -—'■ ' " ' : ; *> Paid Up. Balance J? 5 ? SUa.ro. „ „ .. Laai Investor. . .. Forward. ft. g Buyer. Bellor. ■ ba](!i BANKS. . . £ £ & £. c £ d. £ t 3. £ I. &■ £ «• d. ■ New Zealand ... ... •... ... 2,CCO,OCO B1.676 il ' S) ' 1J '!1I 8 ! ! 0 9 0 0 1 11 1 ; National ... ... ... .. 575,000 335.318 15 12 5 1 0 5 5 0 5 6 0 5 3 7 INSURANCE.' .Nationcl ... :.. 100.000 249,339 ; J nnltd ( 15 .1 6 .0 iK t 6 New/.aaland ... ... ; .300,000 390,6T4 J 8' ' 10 ; 316 0 -316 G S15 t 5 5 0 ; South British ... ... • 100,000 474,912 1 4i 10 SIS O Standard ... ... ... ... ... 75.OOO CS.356 \ Bi 10 1' 1 0 1 S 3 FINANCIAL, j < ; : Equitable Building.60,000 22,000 5 5 in 10 8 0 10 0 0 Metropolitan Building , ... ... 50,742 5,668 10 nil 7 Wellington Invest.' ... ... ... 50,000 5,933 I 'i 6 01> 3 011 6 5 4 4 Wellington Trust and Loan ... ' 44,334 k 5, n 7 0 6 7 11 0 7 0 0 5 7 0 v : National Mortgage ■;»; ... ... - 200,000 157,740 0 - 8 10 a 19 0 3 0 0 5 0 0 613 4 N.Z. and Elver Plate : 200,000 , 352,000 1 nil i 7 111 6 1 13 0 1 11 6 .4 8 11 V Loan and Mercantile ' ... ... 135,233 515,133 J 1$'' ' 5' ' ' : 0 4 G 0 4 5 11 6 8 1 OAS. ■ £;■ .tadOaria ...' w w -... .... 160,370 85.4SS .5 'nil 16 Ohristchurob ... ... 160,000 70,918 s ' nil 10 917 6 '10 5 0 10 0 0 5 0 0 fv, ■ Feilding ... ... _. ..... ... 12,000 108 1 nil ... 2 9 .6 1 0 3 019 6 ' 3is borne ... ... u. ... ... 17,3(10 10,565- 1 - nil 133 J 10 0 »10 0 5 10 0 Uawera ... 8,250 004 I'• i 10 krnr Plymouth ... _. ... ... 18,000 3,159 5 nil 10 ' . \ . Napfir , ... „. .. „. '... ] 30 ■ nil> 15 ' ' » .. - ~ ... - J 48,957 23,181 .6,5 15, 3 2 6 . Palrneraton'lTofth 1" I 27,000 li,092 •« "l 10 .• • V JSfelltagton ... ... / ... 1 JJ.™ 10 nil 10 M, 1 o 19 10 0 19 7 6 6 3 3 : . . - » ... - - ■' ~ ; ... j { ]() ID 10 II MEAT, ! ■' •' •' Canterbury ' 151,727 32,635 jl ; Sj B 1 ' 1 ' B 0 0 jhriatchurch ... ... 165,920 - 77,642 io nil 8 10 2 6 10 5 0 10 7 0 T14 T -Boar.. ' ... ... ... 1 moOQ £6 361- ■ 1 nil 124 *. S. 9 0 . 2,10 0 2 9 0 6 2 0 .. „ _ ... • ... I vtm w,5Bi 4 0 Hi 0 15 0 10 0 0 R'ellinston Meat Export ... ...). , 5 nil 8 612 6 m » - - - ..; .» ' _ - ... f 105,760 63.767 - 4 1 V 8 5 9 0 J. » ... .... ...I ■■ 28 . 2i -8 36 0 Wenganol „ . „ ... ... 45.850 10,315 -o -nil . B ■ ' . TRAHSPORT. ' " " .u'. ;' ''' \ ' ■ W. and IL Eailway ._ ... ... ! 170,000 ' 121,452 l : 4'' 7 S '7 6 B 9 0 2 9 0 .-2 17 2 ',* N.Z. Shipping ... ; ' 473,810 . - 110,7(30 S .nil ji 518 6 ' 615 0 VOnion Stoaffl ... ... 600.000 361,917 1 nil 7J 1 14 6 ' 1 15 6 '.Wgtn, btcam Perry ... ... 46,250- . 65 ,i nil , 6 ■ - ...i ' g: ; COAL. ' \ - Weotport 260.'000: 117,215 3j 1| 12} -' CIS 0 618 0 4 ■■■■, ; Tauplri . ... E0,000 , 5,339- i nU -74 . 1 0 0 019 6 714 0 WOOLLEN. : : . - . t; Ealapoi ... ... ... ... . ... 100,000 32,854 6 . nil '-I L" - . Uoigiel ... ' ..: ... ... ... 83.457 - 17,212 3J 14' 4 3 10 412,0 r-: ; : Wellington • ... ... ..... w . S3.S25 ' 24,368 . 4 1-.-.- \6 3.7,-0 3 11' 0 3 7 0 7 3 3 "■ HISCELLAKEOUS. ■. ■>' ... f; , Donaghy 2op» „ ... ' .„ --23,500 ,: 1E1 "1 -nil' '■ & ' ' 1 i 0 Inland and O'Brien ... ... 35,000 37,761' • 1 nil 15 2 2 6 S 3 0 Mauriceville Lime ... „. ... 7,000 ... 205 1 nil 8 ' N.Z. Candle '... ' 10,000 876 10 nil 8 , i' "HX -Drugs ... «. '... 200,000 £6,730 2, nil T S10 0. 0 IU t 6 3 0 N.Z. , Paper Kills ... ... ... . 64,775 MM" 1 ' nil' 7 ' 1 1 D 1 S 3 13 0 t , ■ NX Cement ... ... ... ... mm- 2,(M8 1 nil ...- -14 3 - 1/aiming and Oo. „. ... „ S6.000 37,670 4 1 10 3 ID 0 3 16 6 10 0 1 'Ward and Oo. ... _. . ... ... EO.COO 30.655 4 1 10 4 15 0 - 5 0 0 4 15 0 8 8 5 TTlftn. Opera Honsa'.V.' .. ... . 18,630 " -1,705 "5 nil" '13J S,: ' Wstn. ?resh Tood ... ... ... 28,'261 ... 1 nil ... Wkiteombe and'Toiaba ... - ... —4G,050 30,156 -, 6 nil 19 - - - . . GUarlaod. Ltd. , lamv.' ■'■Jt.ail - 1 nil 7j ■ ... ! »l'o 0' 0 19 0 7 14 0

Buyers.' " Sellers. -Salt's, p : . £ s. i. £.s. d. £ s. d. i' -.Talismans ... 2 GO 27 0 26 9 Waihi ,— ... 9 2 0 9 3 6 — N.Z. Croira ... ...• 0 7 0 I;. . Ngatiawa _ ... — Oil • — LITansiaro 0 1 8 0 2 0 — , tVaihi Consolidated — 0 2 1 —

l; . '' ' ' . ' - . 1907. 1206. S.: Source of Supply. Tons. Tons. • Australasia 107,572 10-1,770 r ft. and S. America (chilled \. and frozen) 102,129 '109,521 { United Kingdom ' ... ... 85,961, SG,407 N. America (English billed) ' 67,107;;..' .72,623 j., ■ Continental . '5i,388' 48,602 |:' Total meat, poultry-and pro-r - -visions 117,057 421,927 ? ■ ' ■ , Fish ... ... 1,980 . , ,1,969. i' ' \ Total ' ..; 419,037 '423,896