FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 247, 11 July 1908, Page 8

FINANCE AND COMMERCE.

THE SHARE MARKET. ■_ • C.-l; ■■ .; Yesterday.there was.,another'.blahk:for"invest-: ment shares, for no. business was reported, but quotations ; remain.;.'. '.uncha:riged:—National ; Banks, sellers, .£5.55. -'3d,; Wellington"lnvest- ■ ment, sellers, 12s.' '3d. ; , Wellington Trust and . ... Loan, buyers,' X 7 65.; . Wellington Deposit, buyers, 95.; N.Z. Loan and-Mercantile, buyers ,3s. lid., sellers'.'4s:: ,6d;'; ;:.Foilding..Gas,-.sellers, N "20s;;-South "British Insurance, sellers, £2 155.; Ghristchuroh Meat,. 'scllers/ . Gear .Meat, Ai', .i buyers, 495.; N-,2. Shipping, ..buyers, ': :,ls.; Leyland O'Brien Timber, sellers, .£2/35.-Gd.; . :-;.K.J5. Portland : Gement,,buyers,-30s.".,'cum;.rlghts; ; Sharland's, sellers, 20s. i ' V ; -'io. ~ THE MINING M VrKET ; ... .A; fair- amoiint'-of.'business was dono'in : min-; ' , 'There"; were sales of : Big . River at', f .; /,'255., : Crdivu'.'.'at 6sl, Taiigiaro' : at, Is.- "id.,' i:: i vahdi'Karangahake- at Sd., Waihis aiid' Talis-; 1. . ;-..inan-:were unchanged/' The quotations-were as -'under:—i. ,:

: ' . TJIE MONEY'MARKET. • ■ .According to a London .'cable messago in this ii issue, tho'money market is ifirm,'and yot tho:f; " k open " market discount' , rato. for best . tlir'o.o <;"ij:;./■. ; '.months' ; trade is quoted at £1 2s. Cd;;- !•-. . \ vwliich is Is. 3d. below the'rate of iast.wcck... jit. ! . vis further stated that the Irish Land Loan of' Vi£S,CDO,OOO, -floated/the other day at 10s.;,is : .Quoted at a premium, of. ,10s. owing to largo ! . ' Barn's lodged with the tenders being, locked .up.. . We can understand large sums being temporarily locked hp,'because for the.'loan £120,000,-- , ' 000 .was tendered ,; imd if . .the deposit with °ap- ; plication was -Sxed v at ; 'lo:por cent.,'vthen-.quite: ;■ i 12,000,000 so tied" up, Vbut . it'is • l':};,' difDcult'to see.ihow: this..co ( ultl cause tho' scrip, 'a ■ • .to.'.iadvanceVto^a" p'rbmium. - This-.tie--np/::of i./. ' credits: is' certain'=to:havo .exercised anadverso f .-influence, on.;:tho.;monoy. markblr causing . firm:liess,,but the open, market-rate Vis. only-. 22 s. 6d.f : :■ according/to Vthe cable, an error. The. rate is,-,probably J2l 12s. 6d., j. ■ . .0r..85. 9d..above.last, .week's. rato.. The strin- ' poncy such, ag :it is. cannot last beyond a-.'few. I ■: • days, for-t.he unsuccessful applicants , for tho !;■ : • lirisli LandvLoan,■will .'soon, have,;their 'dei>. .:posits/returned.-; Ifc-.is to 'be■ hoped tho market: i : . 'Continno oasy, for-it is-obvious-that 'the t." .. ~xnoiv. Zcalamt.Govorrinient intends toVmak'e an i', ;; ,•' .'early appeal in London for the- -61,250,000 men- " . l ioaed m tho Loan Bill. \ . TUB WOOL MAKICET. .. /, ■; ' •.•The-'Antwerp, sales havo opened well; merinos J' have advanced l'rom V'J to 10 per cent., and : V- ' ... crossbreds 10- per cent. :But-it will -be note.d v " that uut. of. 2JJ/1, bales of La Plata .wool offered I:. : . \:'Of!'!y..'.l6ls.bales.woro sold, that is, just'a'-tri'flo '. '';in'or6";than' half."', l'rom this -it :.may- be in'"ferred/that :wbihr values rornain- low;'specula-' »?»• will bo/prominent, : but any strong advance p: ..will- check- business. . .Tho ■; consumptive. .:dei..-:- mand is.wantiiig, arid-,until this.improves there .... lslwund to be some disappointments'. ■ ' " • ; Itespocting. the, position of the<Bradford market on -May 29,: the "Observer" of that dato ; ; . Bays:— •' •/■ . v ■' -y'---; •'>•. ■ -Tlio general tono of the market is fairly j/f ■ cheoi'iuJ, and,., on' the, whole, confidence seems i. • iJ9 he, growing. The .demand for tops is, , • however,..ofa rretail.; character; but "anything line and. pood maintains its value with'firmness, ' ■ Crossbreds of tho medium to fine order are-■ also very Steady,• but this; is hot . quite, l.■ i . the case»with :40_'s and qualities below. Tho •: greatv.weight ;: of s.tnl! in tho London'sale room. • of-a eliabbv. and inferior- quality has tended ..rather io flatten the section of tho market affected- thereby.; \ Actual'" prices are. practi- : cally;'however, without'chango from"Monday, ;>■ though.'quotations, then, made:, are..'no .-.longer.' I -. talked about; , . ■■- ■ ! - - ... ;.Continental,.-advices by. the. mail/indicate' a> much improved feeling all round: At Antwerp';, thore -was -a moro-regular inquiry been; experienced for .months past.-. The tone r-... was firm all;round. At Berlin the iniprove- ; ■ mont was most marked. Business in home i grown': wools had .been fairly active, and though' prices did riot show any material enhance- ■ ment, the previous great:, irregularity, had quite disappeared. Tops were also in increased ■; demand, and important transactions had been . concluded at advancing prices.: At Havre tho f .-spot: market was fairly busy, arid tho tono: -*■ i was firm. At.Mazamot the improvement. prei « viously reported had made further progress. Buyers were more in ovidenco' than for months past. Holders, on, tho other hand, were ad- !- . . vancing their.. prices,-and in most. cases were better terms. •' At Eheim -Miction 'sales of domestic wools: wero.; held. There.' was.:a .large attendance; .and '- .brisk': ■ bidding, the-wholo of-the-offerings being sold-' : 10 :. per cent.. . above .'those, obtnined. at_lth6l > - previous sales. At Eoubaix-Tourcoing'the tone of the market was good arid checrful. 'Busi- : ness bad been fairly brisk in tops, and prices kv- .showed further, appreciation. Stocks had been < considerably lightened, and'fair, engagements i for forward delivery had been-entered into, i ' Noils, likewise,-had. an active market, at from per cent, to 10 per cent, above the pre-, vious prices, for merinos; whilo crossbreds t Be'curcd. an advance of "10 per cent.''to 15 f per cent. . Yarns had fully shared in the j revival, and considerable transactions had j taken place on better terms. ' Spinners were ; better engaged than for several: months past, i Woollen and worsted goods had'been ;in in-. : creased request, and some orders, had been ! * received from America. Futures of tops bad I been fairly active, and the tendency was up- ' ward. | STOCK EXCHANGE. • (nt .TELEaBArK—rRESS. ASSOCIATION.). • ' Dunedin, July.lo. . ./ Stock Exehiinge" sales: New Zealand'.Drug !• (;£2 paid), £2 lls.'i Waihi Grand . Junction, ■ il 155.; Koputai, <£2 10s.

WELLI NOT 0 N , S HARE LIS T.

I.'; DREDGING. • » '(BX TELEGRAPH—PRESS ASSOCIATION.) .... -.iw- ■ Dunedm, July 10. Dredging' returns':";' Koputiii, 7Soz. -12dwt.; Electrid 1 1, 70oz/'®d'wf,; Waikaia, 42o'z. 18dwt."; Masterton; 380z.; '7dwt. • igr.Lady -Roxburgh; 30oz. 4dwt.; Elcctric"ll, 250z. sdwt.; Central .Charlton,' 220z. '•10djr(:.; Muddy. Creek,'' 14oz. 3dwt.; iKura, 12oz: ildwt;;,. .Chioago, lloz.; ; . We!shmans, 10oz.~4dvtt. W'ELLINGTON'MARICET REPORT. The > N.Z.' Farmers' Co-op.' Distributing Co., Ltd.; report.as follows.:—Maize, 'is) 9d.; wheat,' fowl; ss..2d.;.barley,:.'feed, ,4s. to' is. Gd.; bar--ley, Cape'.seed,'4s.' 9d.; maize, crushed, ss. -10d.;;; oatsi 3s. Id. to'3s,', 3d.; oats, discoloured, 2s. 9d.; oats, crushed, 3s. Gd.; olits, seed, duns, :sparro,n;bills, .gartons, ,3s. -6d., '■ African Al-. gerians,'scieenea,- 4s:'4d. per bushel. . I'yegfa.ss" perennial,*/ss. 6d., per bushel;. hay, jHOsr to' J66.'los.;,per .ton; straw, -.£3. to, £3 10s. per. ton; .lirani '£1 per .ton; Sucrosinfi, £7 10s. por, ton; primo oaten Sheaf' chaff, .£6 per' ton.. ' . Pqtatoes,' tablei'",£s 10s. J 'to JCOf. seed potatoes, Canterbury■ -Up-to-Biitcs, <£6 10s.; Canterbury DerwentS, i£G.ss.; Red Beauty of Hebron, M ss. per ..ton;. Victory, J25 10s.; British Qucon, ,£7 10s. .ton; onions, ,£lO. '..'Butter, .soparator, Is. 2d., milled, Is., dairy pats Is.,' per lb.; eggs, fresh,. Is. Bd.,.preserved 15.'..3d, to :Is.' 4(l.''"per 1 doz.; honey, 60's, 4Jd.; bacon, sides Sjd.,..rolls f1.1d., hams 9Jd per. lb.; Hoeswax, Is. :6d.; .fungus, 4:; d.;. walnuts,. 4Jd. per. lb, . '• , Cabbage, 7s. Gd. to 95.; cauliflower, lis. to '13s,"per sack; swedes.'2s. Gd. por cwt.; pumpiins, 9s. . per sack ; , carrots, . table reds, Gs.; horse carrots, ; 3s. per sack. •' • Apples, " dessert; 10s. Gd.. to 12?.; apples, .'cookers', 6s. to. 75.; pears, dessert', ,14s. to 165.; pears, cookers,.' 10s. . ' " Poultry, table .roosters, 45.,: cockerels; ,ss.' to <&, table liens 3s: Gd. to 55.; ducks, Gs. 6d. to Bs.; geese, 7s. Gd..(all at per pair); turkey, gobblers, lg., liens lOd. (live weight). ; I ' ,;..H u :stock sales. ■ : . : ; -: ViIYE. STOCK SALES. Ltd., report, that at , their .Feilding^sale',yesterday .the'y had a fair •yarding- of. sheep; all-of which they, disposed of.". Cull oii'es jviado":from 2s. 6d.-to 3s. 4d.; mixed age e.wes/Gs;; .mixed lambs, 7s. 3d.; two-to6th;:wejthers,.-f6nvnrd condition, 12s.' 6d. , . Co., Ltd., report on : their..Le,vin .sale, held yesterday,as follows:— ;At.full' yarding-of bpth sheep-and cattle, came ■forward.' iAll lines of sheep were.,sold, and : nca'rly/all,"cattle'.'changed Prices vctilised ;-were; ;as ■ follow:—Tiyo -aiid four-tooth .wethers, llsl Id. to 12s. 3d. ;" two-tooth wethors, ;fa low condition,' 105,'. Id.; full-month ewes in jamb, 7s, to Bs. Gd.; full and broken-mouth, do., 4s. Gd. to ss. 6d. to'7s. 2d'.',- small woolly hoggets, Gs. Bd. to" 7s: lOd.; 2i'-year steers, .£3 • 10s.; yearling, heifers, l?s.; weaners, 13s. Gd.; bulls, 40s. : , ' .' ' v Messrs. Hudson; and: Marriott, 'Ltd., Levin, .report that 'at. their -sale yesterday thore was a fair yarding of. prime porkers, and prices : wero.'good. ..' They.:sold an. exceptionally. good line of;-19 .porkers, on account, of-the Boys' 'Training Farm,' Weraroa., Quotations: Prime ;porkers, ,30s.,.Gd;;.injedium,' 28si'-;. light, 255'.; baconers, to 445.; . stores;. 14s. to 18s. ■ ' : The Now . Zealand- Loan- • and Mercantile Agcncy Co., Ltd.y-Fcildiiig, report':—At Feilding !:on Friday , a small'..'entry of sheep and cattle 'camo forward.'. AlHlines.were quitted at ruling Vratds."»'-S'£ofe; ;: wettiers":made from 10s. lOd. to 'lis.'fid.; fat ewe's,;. 12s. 2d.; ewes, in lamb, lis. sd.';' fat : heifers, £3 125.; forward heifers, „C 2 SS. . % ' LONDON MARKETS. » Messrs. Da t lgety and Company, Limited, Wellington,'have, received ;'the following cable mes- - sages' from-;'t:heir : -London house, I'.uder date ■ 'of July: :9:^-'1) '" Butter;— Market' firm. The Copenhagen official quotation is 3"kroners (about 3s. 4Jd.) per :'cwt.. higher. The total imports of butter into the United Kingdom; for week ending July. 4 amounted to 93,000.'cwt., as eompared ivith 84,000 fiwt. for the corresponding week of 1907.; showing an increase'of Sooo"c«t.' J'lices for Australian and Ne\t. Zealand "lnitter.. are unchanged. Tho course of prices in. tho near -future" deporida 'upon" the weather here. Good prices are,'however;, expected dursng October • and . November. . '• , Frozen Meat.-^-Beef—Since our lost advices prices are Jd. to id. per lb. lower. Other descriptions 'are unchanged: . Tallow.—Since our last telegram prime mut- ■ ton -tallow, is unchanged. 'Other descriptions ; are .6d:'"per. cwt."higher. ; ANTWERP .WOOL SALES. (bt telegraph press ASSOCIATION —COPYRIGHT.) , London, July 9. •the Antwerp sales opened in tho presence of numerous buyers. There was animated competition. Prices advanced on May quotations by 7i to' 10 per cent.*-for merino, and 10 per cent, for crossbreds. LOut of 2971 bales of'La Plata offered, 1615 were sold. ■ "WHEAT. , . Tho American visible supply east of tho Rockies is estimated;at 21,399,000 bushels.. ..SILVER,' '- . - '. .' <i ' Silver is quoted at"24 11-lGd.; LONDON -MONEY MARKET. ' (nr TELEQRArH —PRESS ASSOCIATION—COriMGnT.) - ; C : :2 A ' London, July 9. The rate of discount" for three"months' bills is XI 2s. Gd. (?-£l' 12s. Gd.). : The .money market is firnu ■ ' '

HAWKE'S BAY FARMERS'. CO-OPERATIVE ASSOCIATION. (DT TELEGItArH—PEESS ASSOCIATION.) Napier, July 10. The annual meeting of the Hawko's Bay Farmers'< Co-operativo Association, Limited, was held .to-day. The annual report stated that the balance-sheet showed that, after making duo provision for all necessary depreciations on buildings and plant, the balance of profits, including £Uls 13s. lid. brought for- . ward from last year, amounted to <£8950 IGs. Bd., which the directors recommend to bo allocated as followsTo pay a dividend of 8 per cont. per annum on paid-up capital, a bonus of 12J- per cent, on commissions contributed by- shareholders (land excepted), a bonus of 2 per cent, on goods purchased by shareholders (excluding goods sold on behalf, of other shareholders), a bonus of 5 per cent, on salaries, earned, JE3500 to be set aside to meet bad and doubtful debts, and the balance carried' forward. Tho report wan adopted on the motion of the Chairman (Mr. i Arch. H'Lean), who, in t.he course of liis address, said: With the value of our staple product at a low point, I cannot too strongly impress upon those farmers who have to rely upon financial institutions for assistanco to confine their drawings during the year to amounts required for absolute necessities only, leaving expenditure for . improvements, etc., to stand over till bettor prices are obtainable for our produce and financial confidence is restored. Those of our clients at present under obligations to the Association, who conduct their business on these lines, may rely apon the directors' assistance. At a meeting of directors, Mr. A. H. Russell was elected chairman for the ' ensuing year. GRAIN AND PRODUCE. (BY TELEGBAPH—PBESB ASSOCIATION.) Christchurch, JulyvlO. The continued wot weather has hampered business in all departments of tho grain market. There .is an inquiry from the north for fowl wheat, but only 4s. f.o.b. is'offered; The rain has put a stop to deliveries by farmers, and though chaff has not yet been'affected, a ss.' advance has taken place in-pota-toes. In the meantime stocks in store aro being drawn up. A further rise has taken place in butter, both factory and farmers' makes having advanced Id. per lb.

Buyers. Sellers..,; Sales. '. I'. £ p..d. . ,£ s.(I. .C s.d. /••-Talianah •• 2 i 9 2 '5 6 — ■ j; : -.-fAraiW/, ■ y . i a a c a ' " : '."-TairW .Broken ' . - - ' v , ■„ ..Hills 0 2 10 0' 2 U -—- i .; ■. N.Z. Crown ; ... — U 6' a 0 6 0 jj:-".'- Tangiaro ,. ..i. 0 '1.. -1 ;A. • . • Karaiigahake : . ...;" —-— .— ■— 0 (1.8 [ V : Big Kiver ...' ... 15 0' ; ' ' " 1 5*0

• ' ; Boiervfi a2 T i.W «« . ' PBIOES. • ' . vum Caultel Pnnd nnH P Liabi- -g« - - if, . . . "• Paid UP. Balttc2.«s«fcppr-|,,;- InT^r ; . .:-;■--, Q .foyer, soiior; ffl; inTesMr - BANKS.,:- Vit-. , <• e. At 4 .£ I. a. • ••• - •.»• 2,000,000.• mm ii 3* 10 9i f 0 i'« o.m 1 Rational . ... _.. . 315,000 ; 335,318 • $ .15 /.-, 12 .5 1: 0 5 5 3,5 5 0 5 11 3 ;,. '...INSURANCE. . .'.:' -■.' • ' J >" "■ Mflrn- • 219,339- ••» "nnitd'v 15 7- 0 ' "• v' 800 - 000 • 396,074 I : 8- 10 315. 0 316 0 315 6 .6 «-fl 'S?^53 lt ® U " v : : '"V 132.240 ;i 80 .SJS-0 2 IB 0 6 Jo 1 Standard ... " '5|W. ,63.388 J TB-.'■'10 •'*'*'*. ® 1 , 2 3 1 2 3 > EonUable.BiUIdlnV ;i; £ ""m,000 50,712 v, : 5 " 10 10 0 0 10 3 6 10 2 C ,119 0 .Metropolitan Buildine • -... w com ' s.sss ™ nil 7 !Weltogton toost. • ..W• ... : 3,933 ' "1 •'■••J 5 0" 3 0 13 3 s 0 12 3 5 0 0 ,.;./.WdJineton-Xriist'Mid-IiqaBv-. 11,33^'.. 6 V,: 6 ' .8 ,:.7.'6--o .* 0 0 '711.6 5 6 a '• .-.sawwo' : .w,w: rS 10'-210:0 3 0 0 3 0,0 e 13 i ■■!• >:H.Z. Rnd,KiTet,Plato:... ;.. ,..'soo,aoo'- ,252,ooo- ■•.•? „» 8 -.,iiit,6 112 0 .111 6 4 8 11 ?.? d ~.135'223,: ; 315,133.:"fi 0 1 -6 0 1 0 1210 0 w/••... 65,163* B ''nil'. 16' ' " _;v-glLr^urch.-.».^.-.A; W -> -W leo.ooo "70,918. .5 '..'nil 10 917,6 102 6 10 0 0 5 0 0 KelldiBB- ... ... ... .12,000 . 935 v nil 0 19 0 1 0 0 019 -6 Gigborne , 17,300 , -' 10,665 "y ' nlT 133 . . ' 213 6 210" 510 0 : Hawera < ....•■ i.. ... '.691,: ;,j L:. ..} 10 : ; ;.Hew Pljrmouth'„., '„A ... . 18,000 -3,159. "5 " nil10 : Hapier ... ...• --,...- • • .;. 1 .V . ' ,2 £1 15 ' ' .' •> . « •'-• j;^ 557 ..23,181 • : s-: 15 ..3.2.6 ' : • : •' * " 27.006 : .11,093' A ■" V So ■ weuagton, ■ - ' ,m 7n 10 . ..nil.;' 10 :19'.7;6 1910 0 19 7 6 5 J 3 . r ■ *•". i - 5- : 5 10 1010 0 -. • v.Can.t«rbQry ... : . ;., . 1S3.727' ...32,656 7 j '..2} 8 -.'. .' 8 0 0 . : -Ohrlltohnrclj, .... , ... r 165,920 - 77,642. J: : .u" ;.8 .10.".0.,.0 10 0 0 10 0 TU T •••.. »• . ••• ... . •>, 1. 92,000 ; C6£61 l' . -nil' 124 2 , 9 0 3 10 . 0 2 9 0 6 3 0 ' ■ tff in "; ' -Vr' t.' •••• . • . - i 6- 125 ,015--o 10 0 0 -.Wellington Mcat Export I.- ".5 ';w 8 ,612 6 .. ■ . . :X.»-.v.. -y" r 105,766 . 63,767 ; . ,..4 -1---8 '5 2 0 ' WWaimi"' : :' : 15,650 ; ' | 3 %.nU X, ' 3 5 - ° • TRANSPORT. . , i. Eailwaj'...' ../ ... ' 170,000; i2i, 153i I 7' 2 -7 n 2 9 0 2 9 0 ■ 2 IT 3 - N.Z.- ShippmB ... ' IIO,7EO _ 8 niI -. 5 -61:0 t i 6 6 0 0 6131 g»w» Fan-,- —••• - ...tCMW ;3ta,!ll7. . 1 , • nil. -9j I'll 9 116 0 i;ll 9 5 9 3 •; Wfitn. tteam Ferry ... • „. 16,250 --65_ ~i ;: - : nil '6 • i ;. -017 6 ■ ' ''■;^;v;^.:;:;^idAL..v"v-r' v: ' ..Jfutp'orf;"... '... ' ... _. ...' 280,000' 117,215' 31 '.. 15 J2* .. 61C 0 6 IS 0 618 0 6 7 8 ■ lanpin. i,. • ... .65,000 5,339, J nil 1\ 1 0 0' 019 6 7 11 0 ir"-.";::'::: '.v: Kxlapol ' .„ . ,100,003 ' 3^851. ■ j.; n ii ,ci ■.;.Ho8gier'/u:. ~B3.457.. .:';i7,3ii.'. ,:3j ': ,ij' ; ...4 ,310 113 0 . WeUineton : ... ». . £2,925 : ■ r : 21,3ra ■ i-- : .1 •, -6 3. s 0 3 9 6 .3 8 0 7 !• 2 miscellaneous, ' . . ■'> ■"''■V-. , Donagbj Eope ■ ■ „ 23,500 : ... : 181 :.1. nil 6 l'-3'0 14 0 ' . Ixsyland . . , 35,000- 1 -nil 15 : 2 ; 2 6 2 3 6 2 3 0 7 0 0 MaurjceTillo Limo ... . -7,000 205- 1 ••'nil' 8 ' .. Candle .... ... 10,000 ' 676' 10 nil. 8 - - <v. '-- ' S-5-"S rUe3 '^.v ; " £00,000." 56,130. - 2 ";'nil. <1 ,-210 ; 6 211 .6 . '211- 0 6 3 # : . K.Z. Paper/Miils . .... . . £4,775 - . i nil' 7 -1 1 -9 1 2 3 13 .0 , S.Z. Cement 40,C00 2,018.,1 nil : '... "lilOVO . Hanips and.Oo. . ... , ... ... S.6,000.. .37,670 .4 1 . JO 3-16 0 ■ 3 16 0 10 9 1 - ward and : ... • _.l ..to,000 ... to,655 4 » 1 30 415 0 5 0 0 1 15 0 8 8 5 "= JTgtn. :-Opera Houib 18,630 i ' t il.7055 ':'-'hU' lii ' " . "- ' Wctn. iYesli Poodv.. ; '...; : 28^61: i / ...: 1 ' nil ' ' vWhiteombe apd Tofflbs,. .46,250.: : -.'0,156 5 - nil 19 ., ' ■ fcfaarlind. Ltd.... ......... «b.67S • Mil 1 nil,.7!;.,;;. .1 0 0.'819.6 T11.0