FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 238, 1 July 1908, Page 10

FINANCE AND COMMERCE.

WELLINGTON 6HARE LIST.

THE SHARE MARKET. , ~ . > Investment shares wero very dull yesterday, and no sales were reported at the sitting of ; the Exchange. Thcro was practically no change in quotations. Bank shares were steady, with' ..■■■buyers of Bank of New Zealand at .£9 2s. 6d. ex dividend; and National Bank shares, buyers £5 4s. 6d., sellers v .£s> ; J)s..:6d: Insuranca'shares--were neglected ;;South: British. .Insurance, sellorsi ' . >£2 15s.'; Standard, sellers'. 225. . 3d, ~-Financial,. : shares wore steady and unchanged; Welling- -. . ton .-buyers -lis. 3d., " sellers 1??.; 3d.; ■ Wellington Deposit; buyers, 95., sellers ,9s. 93.,- ■ Loan and Mercantile, 'sellers 4sY Gd.- Gas shares were quiet; 'Wellington Gas, sollers,-<£l9 ,10s.';l -. ■ ■ Feilding Gas, sellers 205.; Christchurch l Gas, buyers w£9 17s. Gd; Other stocks quoted were:—,. Christchurch .Sleat,.-,-sellers.iJ!lo; Meat Export third;-issue'.'"'sellers £1 ss!'; liana-. , watu Rails, sellersj 495.; N.Z. Shipping, buyers, i. >.<E6j Union Steam, ibuyers 345; 9(1.; Wellington . Steam Ferry, 20s/'paid upi 6ellerg'lßs;; .Welliiig-' ton Woollen, buyers X 3 75., sellers £3 9s. Gd.; Westport Coal, sellers JEfi 195.; Leyland-O'Brien '. Timber, sellers £2 3s. Gd.; N.Z. Drugs, buyers •£2 10s.; 6d.; " N.Z. Times," sellers land's, sellers 20s. ■ . . ■ Tho course of sales during the. past month was as under:—- . Union Bank, .£6O. . Bank of New Zealand, .£9. National Bank, £b ss. . , • / Equitable Building, >£50 2s. 6d. ■" r Wellington Trust, and J.ean, £1,95. C6d., £1. ■ : Ss. Gd., £7 10s. Gd. : Wellington Investment, 12s. .Wellington "Deposit; 'JE9 9s. , . N.Z., and River Plate, 31s. 6d. Loan and Mercantile,, is. sd. r Wellington Gas/ ,£l9 ss;, £19 7s. 6d. v :. Feilding Gas, 19s. Gd. r ,South -British''-Insurance,' £2 14s. 3d. 1 Gear Meat, 50s. Manawatu Rails, 475. 6d., 495., 495., 495. N.Z. Shipping, £5 18s. Gd.,-,£G, £8. ' Union Steam, 34s 9d, 34s 9d • Wellington .Woollen, 675., 675.. < . < ... ; - Westport-Coal," .£G 18s. Gd., jCG 18s.- - ■ . : Loyland-O.'Bricn Timber, 1 ,435.- ■■ D.I.C. prpforonce, ,21s. lOid.; 215.: 10id. . N.Z. Coment, 235. . Manning and Co., .£3 16s. Gd. Sharland's, 19s. Gd. . ; jTHE MINING MARKET. . ... .A fair amount of business .wasdone jn\ the, ', - mining market:' Waihis had quittance tit j £9 Is. Gd., and Talismans "at ,£4 4s. 9d. Tangiaros sold at Is. Gd. and buyers now offer Is.- sd. ■ The quotations yesterday. was. as tinder :'— Buyers. Sellers.. Sales. , . , .- £s. d. JJs. d. ii'iS s.'- d. Waihi ... ... 9 1 G 9 2 0 9 l' G Waihi Gd. Junction 114 9 115 6, — '- ■ Tangiaro ....- .... 015: 017 01 6 / Blackwatnr ... ... 1. 1 0 1, 1 G — ... Con. Gold Fields ... - 015 10 , Big River • ... ... 146 -- — Talisman ... ... 2 4 6 2 5 G 24 .9 Tho courso of sales during the past month . ' ■ was' as follows:— . >■".• >", • .■ '■' ""Talismans, 4Gs. 6i1., ,465., 465., 4Gs." 3d., -465: 9d., ; ' 475. 3d., 475. 9d., 475. 9d., ;475. 9d., 485.,"485., 485., 475. 10d„ 485., 475.,5d.,-16s. Gd., 475. 3d, 40g. : 9d.y-.465.", 465., 445.-. Gd., 445. 9d.,-.445.. 9d., • 445. 9d. ; Waihi, m25.,-JE9 3s.' Gd., -J& 3s.- - Gd.,- ■ 35., ■M,J69v. .£9: Is. 6d. Cangiaro, 3}d., GJS.; BJd.-,' BJd., '9d:, 9d., 9id.' ; lid., Is., Is. 3d., Is. 5d., Is. 6d., Is. 7Jd.,Is. Sd.,.'ls'..-7d.,V.15.--75d., 15.;8d.,. ls:'.9d:L,ls: 9d.,- ls. ; 9d.', Is. 9d.;"lsUßd., Is'.- Bd.;' Is:' BJd;', : Is. Bd., Is. 7d., Is; Gd., Is. 6d. N.Z. Crown,, Gs. '7d-.,- 6.5-8 d.,-; Gs.'-Gd., 6s.'-7id;;' Gs. 81d.,'Gs. Gd. .•-" '■ Big River, 235., 245. 6d.; 255., 255., 24a Gd. Blackwater Reefs, 21s. 3d. Consolidated Gold Fields, 155., lOd. ( .

NORWICH AND LONDON , ,| The fifty-first reportvof th?'directors, of'this' Association, covers a period of sixteen i months," the oxtended" period being made in order to alter tho financial yoar from August 31 to De- ' comber 31.- During tho pori'od this organisation has consistently advanced along tho well approved lines which have so greatly contributed i to its past success.' .AJthoiigh^manychanges; have taken place'in of casualty risks, the management, in pursuit of its prudent policy,, ,has , carefully .scrutinised. these : risks and "stood "out for' adequate - premiums,. : even at .thft.cost; of somewhat' circumscribing the volumo of business which' might have been secured. There is no lack of/enterprise, however, and 'the field of operations has been extended to India, Australia, New Zealand, and the United .States,, where, no doubt,'tho Association will 'do, good business., The .report submitted to the general meeting indicated a flourishing condition of affairs. The net premiums amounted to .£-104,310, and the total income' to JE423.415. The claims paid and outstanding were £237,906. After setting .aside 40 per cent. - of tho premiums.for unexpired liability, allocating .£15,000 to investment reserve, raising.it. to .£25,000,-arid ifilOOO to tho clerks' superannun ; tion fund, tho amount availablo was .£28,386. Out of this tho dividend paid is at tho rate of 20 per cent, per annum for the sixteon months, which is the same as for tho preceding twelvo months. Tho total assets of -ithc Association r amount to =£516,829.

CASTLE SALT CO,-OPERATIVE COMPANY. The report of the Csistlo Salt Co-operative . Company for the year ended May,.ls states . that the operatio'ns.havo resulted in a loss,of .£632,' which.'compc.resjvith' a profit of >£4883 for tho previous year. The balance, as,'. credit, of profit and' lbss'is'thus reduced' from' to jE-1321. The business has been well main- . tained, but owing to unfavourable market ;' conditions there has been no margin of-pro- . .fit. Recently selling 'prices .have exhibited a distinct improvement; and while the directors could not see their way to recommend v tho-payment of a dividend for the half-year just ended,, they confidently.'anticipated resumption of regular dividends foi; the future,

The salt-scraping season just ended vas most satisfactory, and the company hold an abundant stock- of'good quality salt. The company has. a.. paid-up capital of' .£65,850. Adding ■profit'"and lossH£j32o, marine insurance account .£llß, and "bank, sundry creditors, and unclaimed dividends, >£21,5b3, ; tho' fcalance-'6heot»total.fis.-'.'i£91,792;'"- Assets' include freehplds, leaseholds, ~plant,' goodwill/ livo : and rolling stock >659,640, stock of salt, 1 bags, etc., X2s,'6D2j''and other'items. , • . '

,-■... i v.„GROWTH.iOF . CANADA. / . ,:The growth' of Canada within the hist. four decades is illustrated by a. series of' diagrams ■placedi-before' : the -Doiiiinion House cf Commons by tho, Minister of Finance (Mr. 'W. I. Fielding) when - 'delivering his Budget -Speech on March 17 last. • Tabulating tl;q figures, they show;as follows:— . '. " • -Total, . ■ Bank Bank . " .... Trade. Discounts./ Deposits., Years. Dollars. Dollars. Dollars. ' 1877 ... 175,203,355. 12G;222,470 62,129,706 #887 m - 5 1G5,357,326 107,154,483 1897 ... 257,168,862 226,960,482 201,141,68? 1907 ' V. ;i 617,964,952 i 639,970,909 '' '589,459,889 In :the -samo period-the: Post' Office Savings Bank deposits increased from 7,470,630f101. in 1877. to' 61,493,671dp1. : in' 1907; and' the railway traffic from" 6,859,796 tons in 1877't0'63,866,133 tons -in 1907. A point of interest ■in 1907. While ~ development haß gone on, ' th.o : public debt has not grown appreciably' during the past ten years, the result being that, owing to the increase in population,-the. per'capita net debt has fallen during' that period from 50.62d01. to 42:84dol; / The Dominion, however, has, the larger outlay of nearly J1G,000,000 to provide for the' National ' Transcontinental Railway this year. - The public, borrowings since August last, howover, have been on a .large, scale, ; totalling ri 31,200,000d01. (X 6,000,000), but-"' considerable'' portion of '' the 'money '. : .raised'"Ms.'t6 -cal-ry-through '.conversion tran-" saptions. of-vi!4,500,000 falls due on 1 .November.M ."next.;, ...Towards this amount i!l,l2B,ol4''exists "in ,the mii King fund. Thin, >yith- ; th'i>- money- wanted for railway -purposes, means that Canada 1 will be a fair competitorwith, any of the' Australian States that may -.haye; to .goitp Ltindoii.lduring the' next- twelve months for\money.

SCHEELITE, WOLFRAM, ANI) ANTIMONY. ' , TKe 'Department of Industries and' Commerce has received: a report' from 'the High' Commis-sioner,-in-London, dated May .8, 1908,' which states that the price for scheeilite' is 265; to 28s. per unit,' and Wolfram '28s. v to. 30s. per unit, f ,with ia weakening .tendency Antimony o'r'e going-, 50. ; per;cent, minimum is quoted at ■£7 per ' ' " ' - 1 ... CUSTOMS--REVENUE;' The Customs revenue collected 'at' the port for the hionth ended yesterday amounted tp ss."ld;', "and" the' beer duty totalled .£940 Is. 2d. The .figures for ;the" corresponding quarter, last, yoarV we're jE55,1"57, 16s.', 2d. and -£833 Bs. 4d. respectively.' Tho totals for the quarter ended yesterday;w?re: ? Customs 10s. Bd., and beer - ; J03381 : os. Gd., as compared with >4185,600 9s. 7d. 'and; £3128 Gs. lid. for the June'qftdrte'r'of'l9o7;' .'

■,v WELLINGTON PEODUCB' MARKET. and; Co;;:, Ltd.; ' Wellington, • report wholesale -prices' ruling' on' the market:— Wheat;"Wivl£'," 55." to. ss. 3d.; oats, 3s.' to 3s. 3d.;, seed^oats,'3s;..3(|.,'.to 3s. 6d.; maize, 53. - to'ss. 3d.-'crushed malt; Bs. 'fid.Prussian bin# ■pesK, Ss.',6d.'t6"7s. : rfo'<vl' peas, 4s. Gd.'to 4s. 9d.,'' all at per bushel; flour, New Zealand .£l2, Australian "ill 10s.; bran, .£7 ss.' .to .£7 l(is.; pearl ;barley, XI? 10s.; split,peas, jJIB 10s.; bonedust, '£6 ;; J4 15s. to S5 55.; dutf, "oaterishe'iif, "'£& 155." to"i£6 '55.; oatmea-lj MS 10s. !t0;!.£14 10s.; potatoes,' table J!3 l()s. to Tasmanian, seed'(Upito-Dates) J!6 105., : Beauty of Hebron . illukes/. bacon, factory sides 83d., hams 9dl,' rolls 9}d.; butter, bulk, lOd. to 10Jd.; poultry, hens 3s. to 3s, Gd.,ducks ss. Gd. to 6s. 6d.;- turkeys, gobblers 15s. tp 225.,' hensßs. to os., all at per pair;, cauliflowers, 6s. to lis. ; cabbages, 2s/,.t0. 45..Gd., all at' per sack; fresh eggs, Is. Bd.:' to':ls.:;9d.; preserved,' Is. 4d. to. Is. sd;" per' doz'eii;' clieeso, 6d'.to 6Jd'.'" per lb.;' loaf,. 7}d..'per lb.; onions, .£8 10s. to .£lO per ton; Akaroa-cocksfoot, lOd.' to -lid.; ryegrass, 4s. 9d. •to 55.. Gd. por,,bushel. ' .

LIVE STOCK SALES;, : At .the-New Zealand Loan and Mercantile' Agency. Co., Ltd.'s stock sale yestorday, at Pahiatua, tho >yarding all round-, and tho attendance .woro.poor,, and consequently prices foil. Full-mouthed owes in. lamb maae 6s. to 6s. 9d. ; * empty owes, 65.; two-tooth wothers, 10s.; poor conditioned fat wethers, 15s. 3d.; medium lambs, 4s. 3d.; cows in"calf, 405.; two half-year hoifers, 325. Gd.; 'store cows, 305,; mixed " yearlings, 10s. " PROPERTY SALES."' : Messrs. Dalgety. and Co., Dannevirke, have sold, on account of tho Hon. W: C. Smith, his Blairgowrio EstatO to Mr. Si Monnios, of Canterbury, Mr. Monties takine over tho stock and plant' as a going concern. Blairgowrio is known as one of tho best estates in. tho, Makotuki district, and Mr. Menzies is to bo congratulated on securing so 'fine a property.'" " ; Messrs. ..Dalgety : and., Co., . Dannevirke, havo also completed the sale of the following properties during,'the month:—On account of Mr. J. 'A. Robertson, his grazing run at Mangotoro Valleyi to Mr. Charles Barker, of Canterbury; on account of Mr. R. Wilfon,' 285 acre section, Mangahe, to Mr. J. W. Herbert; and in conjunction with their",'.Auckland''-branch, 1080 acros to Mr. F. D. M'Lean, of Waipatiki.

At Manakau next Monday, at' 12,30 p.m., Messrs. Dalgety- and Co. will sell the dairy and other stock'of Mr. H. Armstrong.

.. Resorvo T ..., „ ai' PRICES. yicl/l . COMPAHT. pSSt? 1 W * nd My par 32 —— : - to PuaUp.. Btl&nM ptfi sb , "f Last Investor. . Forward. g . Buyer. Eeller. Btt i 0i BANKS. , .- £ ' ■ t,' ' ' / £" £ it's. 't s, d. £ «.* d. £ i. d. How. Zealand . S.OOO.OOO 604,097" 31 ~3l"10 9"8'6 "9 T C 8 0 0 314 1 National ... ... ... „ .. 376,000 : .335,318 ;,g IS ■■■■ 12 6 1 « 6 6 6 6 5 0 5 14 3 i INSURANCE. : ','■■■ '' ■' '• I . National ... ... 100.000 . 249,339 I nnltd,'-15 -1>7 : -0 . t New ... ... ... ... EOO.OOO 306.674" "§ 8 10 315 0 316 0 3 15 6 5 6 0 -South British ... . ... ..... .. ■ loo.ooo 433,240' A ■ 44.. 30 .215 0 3 15 0 5 10 7 ttandard ... ... ... • 75,000 ■ 83,386 • j: y.-Ol'■' Hp.. '1 10 1 2 3 11 3 FINANCIAL. v \{ ,. . ' . . T i " . Equitable .Building 50.000'. £0,743 . "5"! :' ''at) ,10 0."0. ,'10 2 6 10 2 6 4 10 0 Metropolitan Building ... '"50,742 '5,688 in 'nil '7 ', > ■ : .'Wellington Invest, ... ... 60,000 3,933 1 j ,• 6 0 11 3 0 12 3 ftl9 -3 5 0 0 WeUingt<?n'Trust and Loan- ... ' 101,250 44,334 5 -''5 ' : 8 7 10 0 7 10 0 fll-'-O 5 6 2 ...NationalMortgaee ... ... ... 200,000 127,746 a 8 10 210 0 3 0 0 ' 3'0 0 6 13 4 ; . N.Z. and Kirer Plato 800,000 , 252,000 : 1. ; nil 8-1H 6 1 12 0 1 11 6 4.8 11 Loan and Morcanlilo ... ... 135.222 . 315,133- j 81 5 ;'0 4 6 0 4 5 H 6 8 '•*" V;-:. '^,':v''v?' : :CAS. y : '"" *ncklat!d „. ■.« .160,370 65,463 . 5 nil 16 ■ T , Ohristchnroh'' ..... ..f>... -.160,000 " 70,918 1 5 • nil 10 • 9 17-6-~ r 0 19 6 10 0 0 5 0 0 - ; Feildmg ■■ ... ... - 12,030 ' , 935. 1 nil ... 019'0,; r J,0 0 019 6 ; . . Gisborne. 17,3(!0 .. 10,565 .1 nil 133 . .,'»B 6 210 0 510 0 • ; ;-,Hawera ... - ; .- 8 ,250 " 694 3 i 10 New. Plymouth ... : 18,000 3,159 5 nil 10 . 1 ■. ■ Kapier ...... ... )•- ..• 10 nil '15 ; —,v. :-. ... .... ... k 49,057 53,184 5 5 15 3 2:6; . ■ - ; V • 35?fe««' to »;'Woith. : L"'-• 'X' • 27,000 ' 11,092 « V 10 ; • Wellington .... ... ... ... '. M670 nmB l0 nil 10 19 7 6 19 10 0 13 7• 6. 5 3 3 . .... ... . ... :'. 5/V10 io;ioj 0 ; heat. ■' *' Canterbury' , '183,727 32.6S6 75 '8 8 0 0 , :V ; : Christchurch ... ... 165,020 - 77,643 10 nil 8 10 0 0 10 ;0 0 10" 0 T14 7' - Gear ... ... ' ... I qoqiYI C6261 1 12$ 2 9 0 2 io 0 2,9 0 5 9 0 ■ l . ... ... . ) . -™ . l6 " 61 i C 12? 015 0 10 0 0 • . Wellington Meat Export ) •- ' . •> -'6 e * nil" ,8 Xi" - \6B .6 .. „ .. .... ... ... f- 105,766;" : s . 53,767 ; ,i;•? ,;.8..'5 2 0 ' _j>' ; ... J . 25 fj 8 ' 3 5 0 ;.. .' Wantranui „ .... »•'. ... 45,850 10,315 .. ..g ■ _ , . TRANSPORT. . W. and M. EaUwaj - ..; 170,000' 121,452 I 4 7 2'7 6 2 3 0 2'b 0 217' 2 -H.Z. Bhipping 'JCX.'. .473.E40 U0.760 8 nil 's 6 0 0 6 2 : 6 -6 0. 0 6 13 4 Onion Steam' ... ■ ... £00,000 361,917 1 a |i • 95 .1 14 0 1 15 6 l-U-'-O 5 9 3 ,, .. .WbUi. Bteam Ferry ... ... ... 46,250 65 1 nil 6 0 16 O : . : COAL.' 7 ,','SEO.000 ;■ si- Ij 125 .616-0' »«19; 9 6 18 0 6'.7 0 iaupiri ....' \ •... .-.. '■' ... • ; ... . -tS.OOJ : 1 nil . ■ .7i -1 0 6 6 19 6 714 0 vly''-;"':: ■: ' ■ kaiapol : ,100^000.,,.;-32,854.1; 5 nil. M u «• i " ' 1 Moseiel "... 83,457 17,2B 3i lj" ,<..>• ■■■■ -'3.1 0 .412 0 . Welfinzton ... '... '■ . 82,925 . 24,568. 4 1 __ . & 3"7 0 3 D 6 :'3 7- 0- 7 3 3 ' HISCELLANEOUS. * : ' Conagliy Rope 53,500 '381; 1 nil '6 1 4-0 ' :. ': ,Leyland and O'Brien ; ... ' ... £5,000" '57,761 1 nil' 15 ' 2 2 6 2 3 6 '7 0 0 ' Kauriceville Lime. ' 7.000 £05 1 nil 8 - ■/ - . ■ S.Z.- Candle' ... -10,C00' --M6 10 "'nil 8 ; 100,000;' '"£6,730 ;a ' nil ..7, 210 6. .5 11 0 2 11 O . 6 3 0 N.a. papor Mills I.'»'..i- r -' t<,775- 1,633--1 nil • - 7' l"! 9'" 1 2 3 1 3 0 • . H.Z. .Cement ... ';'-40,COO:j ." 2,048" 1 • n il ... 1 8 V 0 ' . • * , Jtanning. and Co. . ... £6,000 £7,670 4 ' 1 10 3 lli 0 ,316 -6 10 9 1- • Ward and Co. ... ... ... ... [0,000 £0,655 i 1 10 4 15 0 6 0-0 4 15 0 8 8 5 Wgtn. Opera Houje . ... .- 18,630. .1,705 5 nil 134 Wttn.'Fro«h Pood ... ... .... .58,261. .1. -nil,. WThitc'ombe and Tomb's ... 46,250 £0,156 I -nil 19 ■: Sharland. Ltd. ... ... .... ... ': MU , n}l-, -.Ti 1 0 0 .0 19 6 7 14<0