FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 244, 8 July 1908, Page 10

FINANCE AND COMMERCE.

THE SHARE 'MARKET. 1 There was dullness on the Stock Exchange yesterday,- and the only, sale reported was that of National-Banks 'at £5 ss. cum . clividond; There .were,very few quotations, but the ma-, jority were buying oft3rs. Wellington. Trust ■ and' Loan were .ih jdemand' at. £7 ,65., and Wellington Deposit at 95.. Wellington Investment shares wcto on'sale at 12s. 3u.; Christchurch Gas.rbuyers £». l?s. fid; Foilding Gas, sellers 20s.;' Hojcitika Gas, buyers ,£5 10s., sellers £a lss. ;; Christchurcli Moat, sellers v£10; N.Z. Shipping, buyers iiG.ls; Wellington Woollen, buyers, i£3 Bs.-; N.Z; Drug, buyers £1 10s. 6d.,-sol-. lers £2 lis. Cd. ~ .=. . ■ ■; ' -THE MININTG,MARKET. : , ' No business Was done on the local, Exchange' yesterday, but Waihis firmed in sympathy with on advance in' Auckland, '■ where • the' shares changed hands at about JCO ss. Talismans con-"' tinue dull and'.weak, and Tangiaros are in. the .same position, 'i'ho quotations yostcrday'woro as under: — / ',■ . : • '■ ■■ ■■. ■ : ' Buyers.. -Sellers. - £ s. d. £ s. d: Waihi ' ... ... 0 2 0 9 4 0 .Talisman 1 ... 2,4 6 - 2-5 0 . i Tangiaro •. 0 14 0 .1* 7 . N.Z. Crown ... ... . — 0G 2 , May Queen ... ... 0. 111 ■ — -... ; Big; Eiver . • .... ... 1i,6 _ \ — ....... J PERMANENT'INVESTMENT OP WAI- * RABAPA. . ' : Tho balancc-sheet:of t.ho:Permanetnt Investment and Lo?.n Association .of Wairarapa for thd\'year'ending. May 31, was subbmjtted to tho .shareholders on', .Monday, last. Tho balancer 'sheet, is' a satisfactory j'no. The. amount , on mortgage.'is now'iCte',2Bo, and the securities for this sum ar-j clainicd to be ample. Tho profit >i)id loss account shows, that .£3230 3s. sf',. was obtained from interest, -£19155. 2d. from arrears of. interest and fines, and .£l4l 2s. lld.'accrued interest on flat mortgages; besides J642 • 3s. 4d. obtained from entrance and transfer fees. Aftor payment of interest-on deposits, 1 bank overdraft, profit on shares withdrawn, and expenses of management, th'o riot'profh hm'ourits to .£1649 15s. 4d. • Of this amount jC1283 35., lid. goos in-interest on investment shares, £94 os. sd. to tho reserve fund, and profit on 948 shares .£272 lis., which is equal to' ss. 9d. per ; sliaro. The balance-sheet oliows subscriptions on investment shares .anij interest and profits allotted thereon, .£23,635 13s. lOd.; fixed deposits, .£19,316 6s. 7d.; and interest'accrued on'fixed deposits, .£-02 7s. 3d.; amount: ' due -to ißank •of New Zealand .-£2215 7s. 9d. There' are 1278 investment shares now*'current, shores having been paid off, : and'ls3 now ones taken up during tho year.

N.Z.' HEMP.

Yesterday reference was ruado to the.optimistic feeling that is said to 'exist among certain sections' of the. hemp trade. The Southern millers aro\ believed to-be .anxious to begin operation nest month, instead of in September, and it. is stated' that there aTO some ready to predict that the ;best grade New Zealand hemp will 'see.* JCSO .before the end' ot the; niontn-. Everyone wishes, there* were somo warrant for .this optimism, but, unfortunately, thoro is not. The'market; it is true, did advance, but it is tending downwards again, and merchants are finding it very difficult to make sales. ■ Manila hemp is : far too cheap, and the' Americans have ■ too strong a' hold on that particular fibre to permit of the New Zealand'product improving just at present. The movements in quotations,, as furnished by the High Commissioner's cables, are as under.' The prices are for hemp on. spot:— Good: Fair ' ManFair. Grade.' ila. £s. ' ' £ s." is. 1 • "May. 30 ... '26 0 24 10 24 10 June-6 -26 10 24 10- 24 10 ■ June 13 ... 28 10 • 24 10 ■ 24 10 ■ . , June'2o 28 0 25 10 - June 27 ... ... 27 10 25 0 24 0 July. 4 ... ..... 27 0 24, ,5 23 15 . It will be seen from the above that towards the middle of ..last month there was a sharp advance in good fair, and this we should saj- was probably due to some manufacturers of binder twine under estimating requirements, or being oversold, "and thus' forced to secure the raw material to fill .contracts. Of the 30s. advanco. on June 20, 20s! has already been lost, and with Manila down to ,£23 155., it is'not likely that "good fair" will remain at .£27. Either Manila must , come'up or good fair recede,'and the latter is the more likely to occur. ' ; .

.... ASSESSMENT ASSURANCE. 'Assessment assuraucd has obtained no foothold in New Zealand, but in the United States',' and Canada there are several such concerns. A new law has been passed by the Canadian Parliament, and referring to this subject tho "Financial Times" says:—"Thoso persons who; have'been dolighted with the 'cheap' life as-: surance ■ supplied by the Independent Order ofj Foresters—the Canadian Society—are' likelyj now to have a rude awakening. To meet the; 'demands of wise legislation by the Canadian; Parliament, all such assessment concerns willi ■ soon have to conduct their business on a basis which wUl'stand actuarial scrutiny, and thusj avoid tlio cruel disaster which camo- upon tho unfortunate customers of tho Mutual liesorve.! As a. natural conscquenco the protection will at once cease to be cheap, and apparently many' of tho oxisting policies of. tho .Independent Foresters will have to be cut. dojvn by noarlv one-half,'while . the 'premium romains un, changed;.or, alternatively, tho promium will be so hoisted Up that tho total payment will often be higher than a policy of similar amount would cost from a solid company of the ordinary tvpe. Our" advice has always been to keep, out of this society, and wo are of. opinion tho( thoso who are assurable olsewhero should quit,' instead of paying the enhanced prico in' eithei. of tho two ways. Those in charge of it niaj be as honest as'the day, and they may bji stupid enough to ■ believe all the nonsense .which appears in their literature, but their i®

r.oranco of jtbts root-principle of life insurance is .so'stupendous.'that ho man of sense should ontrust the;n; with his savings. When a plan is discovered'by which a pair ,of boots which costs ids. to iiiake can bo safely sold at 13s. fid., ;then) but Sot. till then,, will assessment; assure anee of the, Independent Foresters' variety be a • succcss. | .' ' . ' i ■/■..'■ TALISM j .N; CONSOLIDATED,; LIMITED.' The Talisman Consolidated, Limited,-report as follows^. for the" fortnight . ending May '30, \;No.'lO Level.—Stoping: The ; values' from the No. 1 Bonanza Block stopes average - £1. os. Id.-No.'-11 Level—South Drive: Advanced 40 feet; total,, 1351 feet. Width of reef formation; W inches; average of values, Is. sd. No. 8 Cross-but: Advanced 47 feet; total, 79 ioet.' . .No ohange in ground. -' ; Stoping: The valuos from East Vein stopes-(off No. 10 Rise) aTtj.'Sge £2 Bs. The from 'the •No.-'2 Etmanza Block'slopes (off No.. 5 Rise) average .£1 2b. 9d. . , , • .•Noi 15: Level.—South Drive:' Advanced G feet; total, '713 feet; faco in bToken country. No.-6 Cross-cut: Advanced 82 fleet; total, 171 feet. K.'o change to report. Tie, values from the No." 1' North Block slopes average 3s. 8(1. The values from; the! No. 2 Bonanza Block stopes (off No. 5 Rise) average .£7-lls. -sd: No. t! Lovel.T-No. r 12-' Rise:! Advanced, 18 feet; 1;tal, 66 feet; width of roof, 30inches; ■'averag'! of assays, 4s. 7d.. Stoping: Thovaluos from stopes. off No. 1 North Rise average'>£l 4s. .; .;. ..... . ' ■■■ : /„

'(STOCK EXCHANGE.',:, !] ■ TELEGKArn—PKESS ASSOCIATION.) . ' > ' v . , Dime'din, July 7. . Stock "Exchange sales: Golden; Bed, 135.; N.Z. Portland Coment, .£1" U.S., and ss. 9d. cum'. lights (2 parcels); Wostpart Stockton, 6d. dis.; Slational Hank, £5 ss. .j ' j,\ '■. Ellington produce' markets. La«:y . and . Co., .Ltd., We'flington, , report wholesale price? ruling on j the. market:— -Wheat, fowls' "4s. lid. to sa. Id.;'oats, 2s. lid. -I'M '3s. 2d.; seed oats; 3sj 2d. to 3s. 4d.; maize. ss. to'ss, 3d.; crushed malt, Bs. 6d ; Prus; in.li blub peas, Cs. '6d. ti 75.; fowl peas 4- tfd'. to 4s. 9d., all at',p<jr .bushel; l'our, New I Zealand, ,£11; Australian, ■ .£11; brail, £7 ii;.: lo i£7 10s.; pearl lerley, £19 10s.; split! peas, .£lB 10s.; bonedusa ifGj.superphosphattis," £i 155.. to, £5 in.;: chaff (oatenshcaf), £5 Dis.'to ,E6 55.; 10s. to £14 10s.; 'iiotoiioes, table, JES 10s.'<to iGyTasmaman seed, Up-fij-Dates, .£6 10s:; Beaut}-, of Hebron, .£0; Flus:es, X 6; bacon, factory, 'sides BM., hams ,9d.,l rolls 9}d.; butter, - bulk*,, 10d. to WW.; poultry,, hens, 3s; to 3s.' 6A; ducks; 6s. to 7s. : '<sd. ;;turkcys, gobblers. Up. to 2„5., bens gs..'to 9s.', all .at. per pair;! cauliflowers,., 7s. to '125.; cabbages, 3s. to 75., 'all, at-per sack; frtelreggs, Is. 7d, to. Is. Bd.; preserved, Is. 3d. ito Is. 4d. • per. ■ doz.; 6d. to 6|d., per. lb.loaf, 7jd. ,por lb.;, .onions, .£8 ,10s. fo ; JGIO per ton; Akaroa cocß:sfoot,lod.; ryegrass, 4s. 9d. to'ss. 6d. per bushel. I . "LIVE STOCK SAXES. . . , "Messrs: Dalgety and Company, Limited, re T cert having held a clearing eale ' at Manakau or! account of Mr. H. Armstrong. There was a' fairlylarge attendance of buyers, and the whole heffd was disposed of-at satisfactory prices. Iho fillowing were some of the prices obtained-. Ca-ivs in milk and close to coiving, up to £7 lOii.; . weaners and yearlings, 2fc.; bulls, il 2s.' Cd.; gray mare, J220; trap, £12 12s. 6d.; trap, £] .0 10s. *'

i'Messrs'. Dalgety • and Co., Ltd., report; that J their Marton sale yesterday,'they had a fair entry of sheep and a small voiding t of cattle. 'Ji.vo and four-tooth ewes, m lamb, K Diado 145.; mixed age empty ewes, 3s. 5d.. to 55.. 3d.; fat Sid , forward • ewes, 10s. to blethers; 3s. Id.; empty c0w5,>62.135:,-20-month 6teers, £i 4s. 6d. ~ ■' . " LONDON MARKETS. 'v . ... ; . (BY TELEGEAPH —PRESS ASSOCIATION COPYKIGIIT.) London, July. 6. ; Silver—Bar silver .is quoted :at 24Jd. per o^Vheat.-The d 'wheat and flour afloat, for the, i United Kingdom is. 2,320,000; quarters;, for ,th<y 'Continent 1:390,000; Atlantic 180 000- and Pacific, 32,000' quarters. Tlje' al implied far the week was. 705,000 quer tors, including 271,000-from Argentina and TJra- , gjwy- ' ' ' >'

WELLINGTON SHARE LllST. ' 'Begone £§ Liahl- "I PBICES. Xioid rniroivv Capital Fund and ® j5 « {tv _ T S-s .• COUP ANY. raid Up. Bal&nco ' c nller InTeator. ' • . Forward, : r0, p lluyor. Seller. gale. . , ; ■ ■ BANKS. ■ £ ' ■■ £• S :£ £ )' «• a - £ 6 ' a - £ ; 6 ' a - £ '■ Jfew' Zealand ... ... .... ... 5,000,000 50-1,097 3 i 3} • 10 m's « 5 S 0 B14 3 National ..'. ... - 375,000 335,318 s f 15 12 6 5 5 6 .5 6 ,u b a o INSURANCE., Katlonal ... ' 100.000 249,339 \ nnltd, 15 .'1 \ 0 „ . fl ' Rcvr Zealand ... 300.000 396,674 2 8 10 . 315 -0 3 16 0 3 15 6 5 6 South British ... _ ........ 100,000 . 432,'240 . i 44 , 30 ' ® J 1 ?- 3 5 » '• Standard ... _ •» 75,000 52,386 J 91 » • !1 1 9 18 8 a I FINANCIAL. . 1 ! . Equitable Building ... ' ..., GO.OOO £0,742 5 5 10' 0 0 M 2 6 10 2 0 4 19 0 Metropolitan Building CO,742 5,088 jq nil 7 . ... . 012 3 S 0 0 Wellington Invest £0,000 3.C33 \ 4 0 ° 11 \ »» J u u a 6 u Wellington Trust and Loan ... 101,250 44,334 5 6 'J ■ ' ' ® 300 300 613 4 National Mortgage ECO.CCO 127,746 2 8 10 - 2.19 0 3 0 0 sou 61| » N.Z. and Kiver Plate , 300,000 252,000 ! ml 8 : 11J , 6 J » IM X ,! ,§ Loan and Mercantile« ' 135,822 315,133 \ 64 5 0 3 11 0 4 3 0 4 0 1210 u . CAS. . Auckland •,'« 160,3i0 65.463. 5 njj 1® , n .._ r in « e in n 0 - K fl ft Ohriatchurch ... ICO.OOO .70,018. 5 nU 10 9.17 C 1°§6 10 0 0 5 0 0 Feildlng 12,000 - 935 i m ... 019.0 1-0.0 OHO Gisbome 17X00. 10,565 j nil 13j 212 6 -210 U 6 10 u Hawera ... ... ... 6,250 60J J 1 10 , New Plymouth ... ... .... ■••• 18,000 , 3.159 5 . ml 10 Napier - ... ' 1 10 nil . 15 „ „ . ; „ „ .-■ • 49.95T '23,184 5 5 15 3, 2 6 ■; J 1 9 15 PataerBton ; North ... ... .« 27,000 11.092 4 M, ,n n 10 >7 6 5 3 3we'M..; ... -. ;;; i mjm n.m 10 .i »] f 01 J * »» 0 19 . 7 . 6 . , 5 3 8 , '; HEAT. ; ' .1 ' J Canterbury ... ... 1S3.727 - 32.666 -. T | 25 ® . il! ,» Viii i ::: : :: :|S S-1 f | lis I'S! " * ! !!:! Wellington Meat Export ... ... \ ' ' - " 1 ;; ;;; !!! ... > sg E? 350 . „ ,, ... 45,650 10.315 .5 nil 8; TRANSPORT. - ' ' i '' ' .V5SS"™':: - r. iSSS S-i i Hl-J 1,1«§ '•»'{ :: :: ■» - i Si t WS. "" ' : .C-OAL. > WMtnort ... ... Wm 117,215' 3} H la" 1 6 16 0 6 17 6 6 18 0 -0 laup'ri ~ WJ*M 5.339 1 nil 7|| 1 0 0 019 6 7 14 0 WOOLLEN. 1 ij ' K-n.lT.nn) ... 100,000 32;854 . 6 nil ffi , . . .. n S .••• .::: .. w,«7. m $ 14 1 e ■ 1 §■ Welfington - ■" ... - ' 8W2S 24.368 I 1 «. 3 S 0 3 9 6 3 8 0.7 1 2. MISCELLANEOUS. i ' ' :::::: if 1 Slj fill lit m-oxm K2 L r : :. ::: ,& m iS. t t . iio 6 3 ; St ]JruK3 " . . ... «. £00,000 £6,780 - 2' nil 17 210 6 211 6 311 0 6 3 0 K Paper lUUa '... ... . .;. '81.778 . 1.582 1 nil, 7. 11 9 1 2 3 1 3.0 \N.Z. Cemont ... 1 40.C03 2,048 1 nil 18 0 - • lUnoine-and Oo. ... IC.OUO 57,670 4 1, J> 3 16 0 3 16 6 10 9 1 , Ward'and 0o.'.°.' i" ..2,\ ... tolooo .X0SU 4 ..1 111 4 15 0 6 0-,0 4 15 0 8 8 5 Wctii. Opera nouno'...« ... ... - 1S.&30 .1«705 5 -nil. •' , \ ■- Wgtn. FrOsh Koocl ... ' ... 26,2(51 •«. l - oil ••• • . . / , Whitcombe and .Tombs ,... £0,156 : 5 " nil 3 3' _•» • Bharlaad; Ltd.,... ... ... ... if,670 Mil . 1 . nU M\ • 1 0 0 019 6 T14- 0