FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 229, 20 June 1908, Page 8

FINANCE AND COMMERCE.

: WELLIMCTON SHARE LI BT, - - ,

THE SHAREMABKET. ; .Yesterday, Wellington:' .Woollen 'shares changed hands at .£3 75., on a parity .with the .provipus sale, and this: was the only' transaction in .investment shares,reported. There was a pleasing increase in the number of buying ■ orders, which should lead up to • business. ■:.f. Thore w'orp inquiries for bank shares, New Zea- : j lands being in' demand at : (cum dividend) and National Banks at J25 4s.' Cable advices regarding the-annual dividend- and the main items of the balance-sheet: should reach the Dominion very soon.' Shares in the Union Bank of Australia were in demand at .£59 10s Finan- : cial shares were.steady. Equitdble Building: shares were wanted ; at ,£lO, sellers holding for ; .£lO 55.. The' Equitable Building and the Wol-lington'Triist,and'Loan-will interim dividends early,next month; the annual balancing poriod pf the Wellington Investment, Trustee, arid ; Agenoy Company, closes on June 30, . and the; shares of, the latter were on offer yesterday at'l2si 3d. There were' buyers of New. Zealand and River' Plate shares at il tho interim dividend indicates that the dividend for.the year will be 8 per-cent., and this :. increase. was . fully anticipated in tho price of * 5 the shares some time ago. There was a bid v of ■ 9s. for Wellington Deposit-and Mortgage- . shares,, with no sellers. Othor quotations wei'o: '- , —Christchurch Gas, buyers £9 17s. fid., sellers .£lO 2s; 6d. ; .Peilding Gas, .buyers 195., sellers 20s. 3d.; South- British 'Insuranco, sollers £i - IBs.; Christohurch Meat. sel)»rs'dßlO 55.; Manawatu Rails, sellers, 495. 6d.; New Zealand Shipping, buyers >85 18s. Gd.; Union Steam, buyers iCI Us. Gd. sellers jBl 15s. Gd.; Northern Steam, sellers 175.'3d.; Wostport Coal, sellers i 6 18s.; Wellington Woollen, buyers >63 75., sellers JE3 J lis.; Donaghy Rope and Twine, buyers 225. 9d., sellors ,245.;. Sharland's' ordinary and preferonce, sellers 205.; Taranaki'Petroleum, sellers ' 63. " '" ;, - , • . TJIE MINING MARKET. ' ''- The.market was quiet, with an easier tendency.. Talismans were decidely easior, buyers i'offering 455. 6d. (cum' dividend), and this may be attributed to the scarcity, of money, and tho weakness of some holders. While Talismans ) and Waihis are quiet, Tangiaros seem, to claim ' a lot of attention; tho scrip changing hands at Is. Sd. and Is. BJd. Tho quotations yesterday

: ' DEAR MQKEY IN GERMANY. - The German money' market is in a very nervous state. The discount rato. at Berlin, lias been advanced during the week, and the other day the • "mailed fist" /utterance, of the Kaiser caused, a depression on tlie Berlin Bourse. The fact is, financial affairs in Germany are in a very mixed state.' The Iniperial Budget is causing the financiers a great . deal'of concern, and recently the Budget Committee had to admit that' Gormany must bor-, row within the next ,five years, even without fresh appropriations, in order to cover the annual deficits in the ordinary Budgets.; Extraordinary efforts were ncces.sary to get the recent Imperial and Prussian loans floated, and, although they were i per cent. 'stocks," they' went to a discount on the issue price. very soon after flotation, because of ; the weakness of many members , of the underwriting syndicate. Besides the heavy borrowing'.that. will b} accessary on the part of the Empire and the several States, the municipalities'' are in need • of • funds. • The Berlin of the "Economist" says:—"A list of municipal' loans that have either been authorised,' or for which the Government's . sanction has been applied, shows a total of about ,£39,750,000, and this list is not com-, plete. , "While, the entire amount here named is not, likely to, be brought .out this year, it is expected that tho mnnicipal flotations will - be/very heavy during the summer." Germany, Enssia, and Japan are in financial difficulties, while the United States is recovering very slowly from the crisis. Great Britain is financially strong, but the affairs of others affect London. BANK OVERDRAFTS. \ (To the Commercial Editor.) Sir,—l read your .financial articles with great interest, and write to ask'you to explain a . thing that is-puzzling me. You show how marvellously the Bank of Now. Zealand (half private, half State) is prospering. It made Eomo ,£360,000, -has added .£200,000 to its reserve fund during this year ending March 31, - . IBOS. What.puzzles mo is this: Whilst tho bank is coining money so fast, wliy docs-it charge me and others more for our overdrafts? Is it not 'making enough money? Most big business firms; when making so much money lower the prices of their goods—cheapen them; but this bank does the reverse. .Some time ago it charged me 10s. a'year for tho privilege of'keeping my account with it; now .it raises the; price' of my overdraft. Is it not ■ making enough money? Mr. Ballance's and Mr. Seddon's policy w.ia to cheapen money to the struggling settler. Under Sir Joseph Ward's rule. monoy is getting both scarcer and dearer. Again, it is a boast that in two or three years this bank (half State-owned) will raise its reserve, now under half a million, to one million. If the bank grows riohor by i£500,000 in the next two or ' three years, surely we shall bo poorer by ,£500,000. As money is • very tight with us, why docs not Sir J: Ward tell the bank to : leavo that half million with ua We want it badly.— I I ai/i. etc., ( .OVERDRAFT. : PIG-IRON TRADE. A ir.arked slackening of trade is indicated y by the April returns of the exports of pigiron from the North-Eastern district, only;

114,929 tons, having been shipped, as ■ against an avorage for the last, ten years of 120,283 tons in April, a decrease of 4t per cent. Only twice in two years has such a small shipment been known in any, month, the total being 62,908 tons, or--35} por cent., loss than in April, lbOi, and 16,410 tons, or 13 pur cent., less than in April,- 1900. The great reduction is mainly accounted for by the slackening in the oversoa trade^with Germany and the United States. To America only 3000 tons were 6ont,. as. compared, witli 42,974 tons in tho. same period last .year; and but 29,436 tons to. Germany, as against 54,456 tons'a year ago. The not l'osalt ot all the overseas delivery, was 74,971 tons, as compared with 131,501 tons in April, 1907 For the four months ended April 30 the exports were 468,185 tons, as; against 562,497 tons last year, a .falling .off of 114,312. tons, or 20 por cent. In the first four months of last year 131,108 tons were sent to America and Canada, but this year only 5055 tons, or less than one twenty-sixth; part,"were dispatched to. those countries. The exports of manufactured iron and steel have improved, being 58,084 tons for A P™. «s compared with 45,707 tons last year, at >?i IS M' 2 tons f °r the four months, compared with 169,237 tons in the same period last yoar. . - - - . M'AIHi;S LATEST RECORD! ' r Says tho "Financial Times":-r-','AVhen a Com-,! pan j*.persists year after year in. surpassing its previous performances, to find fresh terms in which to describe : the • position becomes diffi-. ?S •!.• /? ii if the situation created by the ...il ': 1 bold Mining Company, whose report' for 1907 has.just been issued. Whilo, owing to inorease ip : . capitalisation or to expenditure out of revenue-upon plant, eto., the, tfividends have displayed the sauio unvarying expansion as the returns, whenever * a move has beenmade, it. hns\ been in the upward . direction. To go, no further baok..than 1900, tho distributions for that and. the '-two succeeding years : -jS£? U ?P 50 Per cent. J on account of 1903 and Jn?i 'i, e r . afe , wa , s , 60 P er cent - In respect of IJOa the shareholders received an extra 5 per cent.; the following year saw an advance to 75 per .cent. ; With.the bonus.of 3s. per chare is ; ;to-be..paijl..on- June 1, the total for 1907 will bo 80 per .cent., thus justifying tho viow_we took when dealing with tho affairs of the Company .a-yoar ago. Of the £41,000 additional revenue secured: during. 1907, as compared 1906, sorne figures ! as extra'net profit. For a number of years past the expen.diturp-, on - capital account -provided out of revonuo has been on a considerable scale, and depreciatmn—for 1907 and, 1900 at the rate of 10. per'. been "written off plant and .machmery.-last--year's appropriations under these twojieadings totalled m,OOO, which is SO j le n f!K - ess i n t!l0 smortisations of 1908 4in' nnn ln 11 ? 6 , 0 ? the 1905 writings off. Ihe j i£lo,ooo now added to reserve- brings that fund up-to kC140,000. "It is worth mentioning that--m-this-instance-the reserve is no.mero . book entry, the. fund being represented by gilt-edged securities';- 'moreover, the Company's investments,.--.which cost 4181,000, had on Decernber 31 last a market value of 4180,000. So slight a depreciation on so considerable a total ffi £lt r en th :Je U c d tfd m " nt With WWct ■ DREDGING./ .■ (Br TELEGBAPH.—r2ESS ASSOCIATION.) ■n , '.. . Dunedin, Juno 19. Dredging returns: Mystery Flat, 60oz. 3dwt.; Mastcrton 450z. ldwt.; New Roxburgh Jubileo, 3joz. ldwt. j Koputai, • 330z. lOdwt.; Kura' 16oz; sdwt.; -Hesseys, 16oz: ldwt.; Centra Charlton, -15oz. -7d.wt.; -Waikaio, 9oz. 15dwt.; Chicago, 9oz. 3d"wi:. ;!. < ' TALISMAN GOLD MINING COMPANY. (BY TELEGEAra-PBESS. ASSOCIATION.) T . ' L . '~ Auckland, June 19. Information was; received, by cable that Mr. is. it. Stafford had been appointed to the Londirectorate of the Talisman Gold Mining LIVE STOCK SALES. j Messrs. Dalgety and, Co., Ltd., report having i Ll " tahul ' a sale at Messts. Abraham and Williams s yards yesterday. There were about 100 sheop short of tho number advertised, Bidding under the hammer was slack, but the firm managed to quit all lota oxcept soma ewo3, on which the owner had too hi"h a reserve.' Fow cattlo in all sold. The" firm quotes:—Breeding ewes, Bs. to 125.; cull ewes m lamb, 6s. sd. to 75.; 2-tooth wethers, to lis. lid.; lambs, good, from Bs. Id. to 9s. 2d • cull lambs, ss. Id. to ss. 6d.; cattle, fat and forward cows, i! 3 75., £1; yearling steers, 19s 6d.; cows, -to £2. Messrs. Dahjety and Co., Ltd., report that at their Feildmg salo yesterday a small entry of sheop and cattle came forward. Tho principal sales were:—Fat and forward ewes 10s' • forward owes, ss. 9d.; cull wo.inor steers' 13s. Gd.; fat cows, £h Bs. ' The New Zealand Loan and Mercantile Agency Co.. Ltd., report :-At Palmerston tl !, 0 \ rllln ' sd , ar S had a small yarding of both sheep and cattle.. We wore successful 111 placing the whole of our entry at' ruiinii rates. Shcepr-Fat owes mado from 13s. to 13s 1(1. Cattle-Dairy cows, £3 2s. Od. to £3 12s' Gd.; 20-month steers, £2 Bs. Gd.; 21-vear stor.™ £3 3s. Gd.; 3-year steers, £3 10s.; forward bullocks, £6 ss. Also, in conjunction with Messrs. Dnlgoty and Co., 25-year steors, £3 4s. Gd. ' The New Zealand Loan and Mercnrtilo Agency Co., Lt'd., Feilding, report:—At Feilding on Friday we had a small yarding of sheep, and a modorato ontry of cattlo. Bidding for all classes of sheep was dull and prices were easier. Cattlo sold at late rates. Storo lambs mado ss. <d.; store owes, 4s. 2d. to 65.; 2-tooth owes in lamb, 14s. Id.; wcanors, Cs.; rough steers, £2 Is. to -C 3; 2J-year steers, £3 33 fid.; fat cows, JJ3 lGs. to £i lis. Gd.; store cows, iC3 to £2 2s. fid.; cowa in calf, *C 3. WOOL, SKINS,' HIDES, ETC. Messrs.- Murray, Roberts and Co. report: We-submitted a .catalogue o£ 110 baler, ivool, ,

WOO sheepskins, and 100 Slides yistcrday. There wiis a large nl.tamiancE of buyers, sover;.il from the South Island being present. Prices for wool and skit; loin wero Jinn. Uiilyr, in sympathy with prices elsewhere, woro on i Mightly lower basis tban last week, beting about to -Jd. cheaper. Tallow sold wo'l ap to late prices. We quote as follows. — "Wool.—CrOKbred, 4Jd. to 53 d. per lb!'; lambs, 45d. to 53d.; pieces, etc., 2Jd. to 3Jd.; crutchings, superior, >1(1. to lid.; crutchings, medium, 3Jd. to Did.; crutcliings, tcedv and iufcrior, 2d. to 3d. Sheepskins.—Crossbred, fine. 4Jd. to 5d.; crossbred, medium to coarse, 4d. to djd; crossbred (damaged pelts), 2Jd. to -id.; crossbred, short, 3d. to 3k1.; iambs, suporior, ijd. to s{d.; lambs, modium, 4d. to 41a.: lambs, damaged, 3id. to 4d. .Hides—Ox (heavy), sjd. to OJd.; ox, medium, did. to SJd.; os, light, ijd. to 4Jd.; cow, medium, 4d. to ; cow, light, 3M. to id.; bull and stag, 2Jd. to 3d.; hides (damaged), 2d. to 3}d.; calf, sound, 4id. to ad.; calf (dani--1 aged), 2|d. to Id. Tallow.—Tallow in tins, 17s. Gd. to 21s. per cwt.; tallow in casks, 19s. 6d. to 21s. per cwt. Date next sale, July 3. balgety and Company, Limited, held their fortnightly sale of wool, skins, hides, and . tallow on Friday, Juno 19, there being a larger attendance of buyers present than usual. They roport as follows:—We offered a fair quantity of crutchings, which met with a good demand, pricos showing considerable improvement. The domand for skins was about equal to last salo, but damp skins met with keen, competition, and sold well above recent quotations. Heavy hides wero about on a par .with last sale, but lighter sorts showed a slight' decline. Calfskins wero firmer. They quote:— Wool. Crossbred, 3|d. to 4d.; crutchings seedy, 2fd. to 3Jd.; scoured, sd. Sheepskins.—Crossbred, 3Jd. to 4Jd.; dead, 3Jd. to 3Jd.; inferior, ljd.; half-wools, 2}d. to 4Jd.; 6horts, 3Jd. to 4|d.; crossbred, broken, 2kL; lambs, SJd. to 5d.; crossbred, damp, 2s. 6d. 'to 3s. 3d.

~ Hides.—Ox, 651b. to 7Glb., s|d. to 53d. per lb.; 401b. to 551b., 4id. to \ljd. per lb.; cow, 621b, to G9lb., 4Jd. per lb.; 531b. to 511b., 4d. per lb.; cut and slippy, 331b., 2Jd. to 3d.; yearlings, 2Jd. to 4Jd.; calf, 51b., sid.; 71b., 3id.: out, 2d. to 3d ( . Tallow.—Drnms, 215.. Gd.; tins, 20s. Dd. per cwt. ■

j 'Messrs. Lovin and Company, Limited, report as follows: W'e held our fortnightly sale yesterday, ohering 25 bales wool, 1500 skins, 400 hides, and a quantity of tallow, and horsehair. Wool.—Crutchings are beginning to come into. the market, ana many bales were offered today. xhey met with good demand considering market conditions. "Wo quoto: Medium crosbred, 3d. to did.; inferior, 2d. to 3d'.; lambs' wool, dd. to 5d.; pieces arid locks, Id. to 2d.; good crutchings, 4d. to 4£d.; medium crutchings, Ud; to dd.; s&udy and inferior, lid. to 2dJ. . '^Skins. —Stead. We quoto:—Fine crosbrcds, 4a. to sd.j crosbrcd, 3d. to 4id.; dead skins, 2d. to 3d.; dead hoggets, l£a. to 2id.j dry pelts, Id.-to Ud.; lambskins, 3d. to.dlcL; green polts, 2s. to 35.; green lambs' woolly, 2s. to 35.; greon. lambs' pelts, Is.- to Is. 9d, . Tallow.—Steady. Parccls .in shipping order, m Tins, £18 to m 10s. Rough fat, JEIO to m - Horsehair.—ls. to Is; 3d. per lb. Horns, ss. to 175.. Gd. per hundred. Cowtails, Is. 6d. to Is. Bd. per dozen. Sides. We brought forward another good cataloguo. Last salo prices, howover, wore not maintained, owing to easier oversea markets. Heavies foil one halfpenny, and lights one farthing. Ue quote-.—Ox hides, heavy, sid. to Gd.; ox hides, medium, sd. to -51d.; ox hides, light, 4d. to sid.; cow hides, SJd. to 4jd.; cut and slippy hides, 2d. to 31d.; stag hides, 2.1 d. to 3k1.; calf, best, 4d. to did.; bull hides, 2d. to 3d.; calf, cut and slippy, 2d. to 3d. Their next sale will ba hold on Friday, July 8. ' . i

The New Zealand Loan and Mercantile Agency C 0.," Ltd., report as followsAt our fortnightly sale wo offered a . good catalogue to a more than average attendance of buyers. Only.. a few odd .lots of wool wero offered.- Prices for wool, skins, and tallotf showed somo improvement on late rates. Hides wero a little easier. Wo quote:— Wool.—Crutchings, seedy and iriforior. ljd. to 2Jd. per lb.; pieces, ljd. to 3d. por lb. Sheopskins.—Crossbred, 3}d. to did. per lb.; lambs, 3d. to <tjd. per lb.; pelts, 2d. to 3d. per lb.; damaged skins, Id. -to 2Jd. per lb.; green skins, 2s. 6d. to 3s. Id. each. Hides. —Light ox, 4d. to 4}d. por lb.; lionvy medium, 4jd. t'o sd. per lb.; calf, sound, to 5!-d. por lb.; calf, faulty, jd. to'SJd.' per 'lb;; hides, cut aiid slippy; 2id. to 3d. per lb. 1 Tallow.—Good mixed; "to , 245. por cwt.; in tins; to 20s. Gd. per cwt. ■ • REICHSBANK'S DISCOUNT RATE.' ADVANCED J-PER CENT. : BY TELEGEAPH —PRESS ASSOCIATION— COrTIUGKI Berlin, June 18. The rato 1 of discount lias been raised from £3 Is. 6d. per cent, to 4 por cent. THE METAL-, MA.RKETS. 8Y rEI/EOKAPH—PRiISa ASSOCIATION —COPVRfGttT ' London; June 18.. ■ -Silver,.. 25-1-163.' per ounce. Copper,- on the spot, ,£SB 3s. 9d. per ton; three months, J;SB 155., ,- Tin —Spot, .£127 10s. per ton; threo months, .£l2B '2s. Gd. . AMERICAN WHEAT. ® 8T TSLEGRAFH—PBEBS ASSOOIATIOK —COPHUCHJ ' ' London, June 18. The American visible supply of wheat e,i£t of . the Rockies is .estimated at 25,088,um bushels. BANK OF ENGLAND RETURN. fiY TELEGRAPH. —-PRESS ASSOCIATION —COrTHIQU? (Rec, 7.22 p.m. Juno 19.) London, Juno 18. The Bank of England return issued for the week ending Wednesday, June 17, is asunder:— lebde Di-pAr.-r2rr.NT Note Issuo ... £55,743.CC0 Gov. debt £11,015.000 Other eecuri- „ ties ... 7,431,000 Gold ... 37.iai.003 485;743,000 £55,7-13, CM Ea.N'Hing Department. Proprietors' Govt, eccuricapital £14,553.000 ties i ... £15,073,000 Public do- . Other socuriliosits ... 9,777,000 ties ... £9,979,000 Other deposits ... 46,032,000 Notes ... 20,050,000 Best, 7-day ' an'dothor Coin. ... 1,571,003 . bills- ... 3.217,000. £73,579,000 1 £73,579,000 The leading items of the Bank of England roturn afford, the 'following. comparison :— This week. Last week. Last year. £ . £ £ Bnllion „ 37,294,C00 36,449,000 34.3,55.000 Itesorye 23,527,000 87,424.000 ' 25,31!),000 Koto circulation 28,787,000 83,020,000 £S B-20 CO3 Public Deposits 9,777,000 9,760,000 10,830,C00 Other Deposits 46,032,000 44,329,000 42J8->,OOQ Proportion of resorvo to liibilitios ... 51.CG C 0.65 • 47,30 GOVERNMENT SECURITIES. The following aro tho latest quotations for Government Securities, with a comparison of those ruling last weok:—

MONEY MARKETS. The Bank of England discount rate is 2£ per cont., to which it was reduced on May 29. Tlio London open market rato of discount for l>est three months' bills is i lower at 1J per cent. Tlio Paris discount rate 19 unchanged at 1J per cent. Tlio Berlin discount rato is i lower at 3J per cent. COLONIAL AND OTHER PRODUCE. Wheat.—Roporte of heavy rains uiid floods in the American chief winter crop areas have caused a revival of tlio markets, but bettor crop news from South East Europe has checked the upward movement. Tlio future courso of the market is largely, dopsudeat agon srofi re-

HH r - 1 9 ar >""? : \ avo n'liot, but firmly held, ilurty-six shillings and sixpence is asked for jNeiv South Wales March shipment. Tlioro is B ™ n " offering for shipment. Thirty-six shillings has been paid for Juno steamer parUn r for Australian on spot at 38s. Gd. and S9s. Gd. Flour is slow of salo and easier in tone. Australian is offering in London at 255. Gd. ■n h n,: - at CJiassroiv at 275. 3d.. Butter is very lirm, .Danisu,. 114s. to 1165., as compared with 112s. lo 114s. last week. Colonial in being well cleared. Choicest Aus10's 1 "" 3 ' ' v '°^ 5 at Sugar is steady. German beet • SSdeg. 3d. lower at lis. 2d.; first mark'granulated f.o.b. Hamburg sd. lower at 12s. lOd. per ewt. . Bradford Tops.—There is a slightly bettor inquiry especially for crosshreds; 40's, lOd. j 4G s, 12d.; common GO'S, 21Jd.; super Cfl's, 223 d. per lb. TUB METAL MARKETS. Copper.-On spot, ,£SB 2s. Gd per ton, 1 in.—On spot, Mil; three mouths, ,£l2B ss. per ton. Lead. .£l2 12s, Gd. per ton. lig Iron.—sls. 3d. per ton. Spelter—,£l9 por ton. . GRAIN AND PRODUCE. [BT TELEGEArn.—PRESS ASSOCIATION.] ' Christchurch, Juno 19. there aro no fresh developments to nots in the wheat market, A fair amount of wheat is ottering at 4s. 4d. at country stations, and sdme sales have been made at this figure, but millers aro not very anxious to operate, and only those who are in immediate want of sup : plies are .purchasing. Thero is a fair amount or oatshoaf chaff offering at quotation, but the' demand for shipment is not so active in consequonce of tho lato rains in Australia. Potatoes are dull of sale, though prices have not yet changed. There is a largo supply of eggs on the market, and tho wholesale price has dropped to Is. 6d. per dozen.

• rniTPAWT Capital M & bl- -g| PRIDES. 51eW ' ' ■ ■■ ■. .Paid Up. Balance l\ tT por Jv ~ ! 7T~ , to . ' ' ' . Forward. Bnyor. Boiler. to-ro.tor. } BANKS. -■ . «■ - • £ --■£■ £ £ a. il. «'*. a. 4 «. d. £ s. a. MartJS f land - ••• 2.0,000 81,»76 JX ')) JO Vl'o '« l'1 BOO S 14 1 £••• ® atlon » 1 — 1.. 875.000 : 335,318 .15. 13 S i 0 ,5 8 0 .[ f 0 II!' ' . INSURANCE. ' ' ' I - ••• ~ JSfMg «W- i trnita. 15 i c 0 1 6 e "Liwwwji.h "' ."°®: MM" a 8. ,10 • 315 0 .3 18 0 1 19 (MO ' S?„ U nL^ nt!S!l - - - - 'JOWWI <74.912 J : 10 . 316 0 . Btondarf -. ™. ... ye.ooo 82,388 j Bi 10 1 i 0 lis FINANCIAL. RmltaM? Bnfldtar co.ooo. 22,000 ' 6 ' $.'• „ jo', io.'o'O- '» 5 0 10 0 0 ?:••• Baildine ... ... M ,7« s.GciS ,n nil 7 ' V v y r e Initon Inyost. ... ... ... 50,000. 8,033 j ' i 6 ■ . " '013 3 011 C 6 4 4 IV', Brust and Loan : ... im.350 : 44,334 5 5 5 g 7 9 6 711 0 7 0 6 570 :-7,V • "■ •" ' aa SS' 3 10 2 19 0 0 0 0 3 0 0 '618 t t • z N.Z. *nd_EiY6r Plata 800,000 252,000 j nil 7 111 8 .11! 0 '111 6 4 8 11 • Loan and Mercantile. ... ... 135,223 515453 j ej 6 , .oi( MU6I •- ■ v '1.' ••• 1S0.370 5 " nil 16 ■ -Wg 5 ;m>. 17 6 10 3 6 0 , , . v. feKira* ::: "! ~ : y: #• "" ' ala 0 810 0 5 10 0 : k " ~ -.1WXI0-. son 6 nil 10 ' • fcapicr ... ... —A w. >.. ) 10 nil 15 : . » - ••• - ••• j- 49,057 23,154 5 5 . 15 3 2 6 : gjllmer fan" Eoi'ih Z H Z 27,000. n.092 41 V 10 .Wellington 1— V jljsa 10 nil- lO-lI'M 1010 0 19 7 6 J 3 3 } " " - - ~~ ~ J • S t 10 1010 0 BEAT. - . tenterbnrr •' >: * '• V '' J8S.W 82,688 jJ : 1} b 800 . . Christchuroh ... ... , o u. 165,930 77,643 10 nU 8 10 2 6 10 S O 10 T 0 T14 T Uear " ~ ~ I 03,000 86,261 1 ' nil 12i J-9 0. B10 0' 110 I'll Sr'eUiakton ilcait'Export I Z ). 5 iSl • 8 • ° "iS'# .. ... ... _ i.. f 105,766 63,767 J .1 , ,§ .. 5 3,0 .l/iuigMti"': u " , *••• 2 Z 15.850 .10,315: -f: '§i. J ' 3 6 0 TRANSPORT. , WV ir. Kftilwar ... • ... 170,000 1£1,452 ' j 4 . .7 ,'S;7 6 2 9 6 2*0 0 317^2 ; : -KX-billwillH iTSM .110.760 , 8 . n U 6 6 10 0 . i 18 6 615 0 Union bceam...' ... .... tOfl.OuO jii.w; j nil ■ 7} 114 6 115 6 .Wiitii..bi«tia lei-ry ... ... 46,s50 . lo i nil 6 • •• , ; r./' U -3J 15- 125 ' ,0 18 0 6 18 6 6 6 4 ' ffaupiri ... . ... ... . iiMAI 6MJ i nil ,7j . 1 0 0 019 6 T14 0 ■ woollg:I. , Es.Iapol , ... ; : ... . ... ' ICO.OOO 32,851 5 , nil 6S UojeicI ... . • ... ... 63.45/ 17,102 al jJ / 3 1 0 415 0 .WalllDttoa •«... ••• ... „ 63,023 24,363 j 1 6 3 7 0 3 11 0 5 7 0-7 3 3 ' MISCELLANEOUS, Donighr Bopo ■ ... U| S3,COO 181 1 nil 6 1 3 0 1" 4 0 Lcrland and 0 Brian ... Si.CiX) S7.761 i nil 15 3 2 6 > 3 6 2 3 0 7 0 0' Maunoenlla Lune . w 7,000 1(6 i 'nil V • VAi- „. ... I0,cfi0 . S76 10 nil.' 8 v v wr "•* "• -'•* ' SCO.LOO . 86.730 . 2 oil. 7 SlO O /311 0 311 0 fr 3 0 Mills •; , •„ •. 14,775 1,662 \ nil y 1 1 fl ' 1 2 3 1 q (V XZ. Cetaant ... ... ... «,CW 1 nil. 14 3 1 6 ° 3iaQnjng _and OD. ... . ' C6,COO • 37,670 4 1 10 ,316 0 316 C 10 9 1 ;r i 4 & i15 0 6 ;°'° 415 0 * 8 5 Wfftn. ?rcj»h yood ' ... ... a,,*6J • ... l nil' 1 T.niu-.omosxnU Tombs .... ... 46,iM £0,156 .j nil ii " ' 4S.676- i.311. 1 nil Ti 1 10 0 o 39 6 TUB

. wore as under:— •: .. . ■ =;• -Bayers. Sellers. Sales. , JC s. d.: £ s. d. £ s. d. Big River .J'.l 3 0 1. 4 G — . .May Queen 0 -19. — Ngatiawa ' ... . -1 T'.ut: . Talisman ... 2 5 6 2-6 6. — Waihi ... ' ... 9 0 0 9 2 0 — Tangiaro ... 0 1 8 0 1 10 0. 1 8 - ■ 0 1 81

Variationa Ftico compared with ,— . ' _ IasS week. ... , ' £ B. a. ~~ 21% Imperial Connote... ... B7 12 6 2s.6(l. lower i ..N.S.W.1933Jan.July ... ICY 0 0 Unchanfiod 3i„N.S.\T.1918Mar-Sopli ... 100 10 0 Unchanged 3 „ N.S.W.1935 Apl.-Octi 63 0 0 UncKed 101 0 ° Unchanged " v ! °' S', U S ... 99 10 0 Unchanged ' ia " ... 69 10 0 Unchanged 3i t> S.A. 1916 Jan.-July 93 10 0 °0s. lower 3 „ S.A. 1916 Jan.-July ... 66 10 0 Stolovvor tk " ■ - 104 0 0 Unchanged ds „ QI dlM-l-SOJan.-July D9 0 0 TlntihfiriL'ofi S „ QTdl5>2247Jau.-July ... 8S 0 0 Uucbani*od — 105,10 0 UnckmgS di „ N.Z.1910 Jftti.-July ... 00 0 0 Unclianuod 3 ,, N.Z. 1045iAj)ril-0(;t. ... 83 0. 0 Unchanged 8i „ \Y.A.102Q-40May-Nov ... 99 0 O Uncbaugcd b „ AV.A.1016-35May-Nov ... 87 0 0 Unchanged 3i „ Tas.l940.7an.-July ... f,g o 0 Unchanged 3 ... 83 0 0 Unchanged