FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 248, 13 July 1908, Page 10

FINANCE AND COMMERCE.

v.the-share -market;' fi ;; ' / be'c'oming.-.'.yery vmarked.'-".Last was Ipar-., £>■:-■■■■■''.'■ ' tipularlj;j dull.v' On' Mpnday-:a:'sale.:.of .WeiUnss; / .ton ; Wobllehs at .Bs. was rep'ortedj on Tues-' ' K?'V;'-.f-'-K' day/there;'was a : .sale.of/National.Bank.shared.' '.»' at £5 ss. cum div., hut-.no has-been. [":/-." ' v .;. reported; sirico '■ /.then.'.:;, -The % quotationson. 'Saturday /were-a/little l inoro..'varied,.'and there ;-Vf-.r':' i , were a Igreater ,number of^.buying'; orders': than. on!,the,pi'eyious;.d'ay:-^Natiorial'Banks,■ sellers, .£5. ss. i3d. t.cum -Wellington Invest--p' vjy v. ; . nient, ;sellers, -125. : -3d. '; Wellington. Trust/and •;.Hy Loan,- buyers,v iC7:65.,; sellers,-<£7,9s.';Welling;," ■: ton Deposit, buyers '95.,/ sellers 9s. 9d,; ! Christ-. s'"■/•/"' church Gas, buyers i! 9 17s. 6d., sellers w£lo 2s. , . . Gd.;' I'eilding Gas, sellers, 205.;. Thames Gas,'. . .'sellersi. 385.; Wellington Gas, sellers, .£9 12s. - Gd.;, National. Insurance] buyers,.,. South. Kh'D:: ' British,:.6ellers,i sV;.!. .sellers;; 225. 3d,';:. N; : ; Z. i Shipping, buyers, £ti i . Is. ; Xeyland-O'Bnen Timber,.- sellers, -.££r-3s. S'V '. 6d.; ;N.Z. Drugs, :.bi)'y.m , sellers,' Vr.v-' >£2 lis. Gd.; 'Shartarid's; sellers;, 20s. • THE MINING MVRKEr /.Tangiaros'changed-hands ion Saturday atjls.fid., while previously 1 sales.,were. ,made ,at':is.' Gd;,7 and.in .'June as'.much'"a? 'is.. 'ffl' : ;Bd. ; :and: ; ls;;'9d-.:.' : was ''paid. : - ' ; Tangiaros are' pv . ': reckonedj ns-an-.excellent gnmblei'ibut-.atJs. 4d, .- they-6tarid;,'at: mop..:than.;.;lo0 1 per-cmit... of-, their,. i\ 'i' / face .valnol^"Talismans'had quittance" at 455. j h;X\vc: ' but Waihis have;receded: a little. Big -Rivers . .continue firm .with.'ibiiyp.rs at,,2ss.,.>na,.Waihi.. V Grand Junction mefr iVilli' inquiry- afc .3:ls.'-.Gd: J - . . - .The quotations on/Saturday- were asunder:— f. . ... ■ ."./. ; ■ /■' • Buyers. Sellers. Sales, tvr--".'-7■ .- •• . - ■ . .£ a. d. J£ s. d. £s. d. : ; Waihi : - .' ;Gvand.3£ ( i'y&; l e'2tE:'J "ffi. Z v. ..: Junction - ;.. 114 G Ila G ' — „ Talisman .... . ... 2 4.9 2 5 3 2 5 0 Waihi . 9 3 0 9 6 0 , - . Tangiaro. ... '... 0"1 4 ■01 G .01.4 . May Queen . ... 0 111:; — :■ - < N.Z. Cro'.vn ... — 0 6 .3:. : Big River ... 150 1 G 0 — THE MOUNT MORGAN MINE t : ■ : ■ : : The' Mount- Morgan -mine:, output .for the .fear , ended "May. 31, 1908, does not reach the if:.:. .'.record figures. r 0f;^£9G15,447,. aid., : w£1,0G6,705 for-,-v: '.V '1889 and ,1890, .but,itiapproximates them, .inasf I/.':;...' ; much. Vas,:a- total of. i 911,724. was reached. , V,, '. ~ : ; There is, however, this great' difference,+that i , in the two first-named years "the-whole of'tlie' ; : . proceeds-'cams from gold; whereas during the' ,- . past 12 from .blister cop- ': , r;; . ■ per," .^£17,617' 'from,., copper.'' '.'precipitate, .and' I i:359,83S from gold.won from .the muridic and:' oxidised,' ore., .These'returns' raise'd""the. 'total' r. ',:proceeds 'froin.:ore- the ,mine.,to : This,,'output, is,.'still a 'logg,,way V : : short of ;that of.,'the !•. ' : Company, : wliich -.to." the".end; qfj 1907 1 had; pro-, i> . duced:raetal3,.:wortli 'i;30,966,2i)3r The expendi-' - , ture' of, thp .-'M.ount during. ■i". v .': tho year, 1907-6 was i£G4B,3SO, arid the profi,t„for, ; the year _ Adding': the balance of ='.' : :.''vi813,337 .brought forward, .'the directors had available 'Dividends amounting to -. .£225,000 liavo I '-been distributed] oriis,'6d.: pyr' f.'/:;;; ; ; \ ' 'share, and the sum of ■ has- ten' dc' : - voted to; writings-pff, leaving, .£3421;,t0. bo,car-; ried forward. Returns were atfnctdd by'the i. '• fall'in the prico, of/copper' fromiiiosj2s. gross,-' i'.fHa^'peod.during: the first half of; the financial ■■ 1 year; to gross, during ; second half of the 'ye'rir.' Stiir" the'''CbmpWy'~h"as r such a r. . ' splendid, backing in the gold contents of its ore' that, it where: othortcompanies would starve! . . v. . _ The dircctbrn mention that reclamations, ow- ■ ing to the fail in the value, of copper, ha'ye , being ohargedv to''-'contingent'''(ifccbunt;': r :whicii' ■ now stands at J!57,243. All.,copper' hnsbld 'has' ..!-.■■■ been v3lu'cd'i4n'''-'theT: : b'alance-shcet at 'iCSO' per' t:i:-V .' ton.: The Company's reserve' is J!50,000, and the j; ; - sum of JE35.602 stands to the credit of the insurance fund;. During the year the Company treated .405, of ore, which yielded 5120 tons - of. blister, I 'copper," 153,'Q32b*is.". 1...• :. 441 tons.-'of' copper- !^ecip(tateV k '' The'" 6'fficiar sr ; estimate of the auriferous, popper, ore in sight. >. . is 1,280,000. tons, containing "cenfc of ;. .... . copper and Bd\vt. gold; and 1,700A0 tons, cori- ; 'taining abovo 3 per cent, tapper "and :, pold. The result of . done- in.the past threo years has been to 'in- :■ . crease thereserves of. this class. of ore by.' . , 180,000 .tons,' , despite an extraction of -273,377 tons' in,tli&-meant-ime.— ! J;liero-is,-in-addition,- ;■ ' / , , n largo .quantity of low-grade ore, which was estimated to be worth 2J per cent, cogper and ;i, IJdwt. gold per .ton. 'isi^s'i.thS " estimate - can bo written up -slightly, but tho i . ore. will not bo payablo until the metal-bear-* ; >■ : ing fluxes, worth 2J per cent, copper, of the Many. Peaks mine are available. To secure • coal at.Jow cost, the Compnny»,has piirchafod ! ... the Colfiwba .cpal ipiuei, ; ' V- copper. iX"which'-'thoi . Com'panyi'has,^'an : ,intefes ( t,''':'will ,he:. cpmpleted, ] ■■■ '■ ■ : in. Dccerilbei 4 'next; The railway .to the Many Peaks : mine will be finished in 18' months, when the Company will bp able, to .largely . increase its blister copper output.' Altogether, ! ''. the position of the Company is. eminently ' satisfactory.l ' .-.s- -..-'~r i- ; ' . . - ''POWERS OF DIRECTORS.. ■ t: In Campbell ,v.._tha.Australian Mutual-Pro-vident Society and. others, ono of the tjucJtioiis discussed v>as as. to .tho. power of direc- ' tors to us,e : ;n .company's nloncy, and'the'ser-' vices of. its',officers, in obtaining support for a ! course of action which commondcd itself to :• y The.directors-,'sent-out-avcircular: recommeiidfng a 'ccrtain"prapusar, accompanied i". » by a form of proxy, and<obtaine'd:the'nccessary majority at meetings summoned .and held to consider the matter,... One ,of ; the.. complaints I■; ir:vdo by the dissentient .ininorify was that tho directors, when brinnng before, tho. members their own recommendations and the arguments ' . in support-, of'"tlieiff, ought; also" tp'Tiiivp' circii;;i.''. lated riVilargmueait the other'sido' on . i half of the dissentient members. - Thft is rather . a startling.):profiofcitidilj' ftii(l;'thp'' Court' 'con- ! . . 6idered' v t,liat therotwaS' J no i »bbligation, legal; or moral, upon tho directors to do anything of

-/WELLINGTON SHARE: LIST

■ the'' kind; ':'As 'to tho' 6bjectio.ll that the directors had 110 Hght'Jto] uso the iriohoy of tho compaiiy"'an"d', ip'e, service's of. its officers, .it is the right'-and;;.duty-.of;'directors, to advise tho • I'mffmbbr's upon' anyproposal,, and' consequently ' I to'"use , "a:.coin'pahy's^fnnds'arid the services of ■ its-officers .so far a's may .be .'necessary for' that ', .purpbsp; V.' - SCOTTISH IRPN;TRADE. • 'Rep'orUyfrom':Scbtiarid :by.tho 'last,mail are ' and, st6el . makers find the utmost difficulty in keeping, their; mills . roilling:lthreo.,,days . a.: week,' 'the',' : reduction of ssi;,.p>r jo®, ijv J st.Oel;quotatio.ns not 'having 1 had : the desired effect of enticing orders known to be delayed. It is maintained that the present conditiori. of things must lead to a very appreciable reduction in costs of production, and captains of industry'express tho'belief tliat were, this to be seen abundant work'would be forthcoming .reported that one promi>nonT Clyde' r had been closed 1 "siiic'o with 'little indication of the mills resuming. Belgian was on tho . increase at homo and in lioutral markets, iind .it was questioned if ever Scetoh makers .had i fared .so ..badly,--in the foreign market as were'l'doing ribw-. t ~The 'current .prices for -'manufactured-'-iron -were reported to bo tho : lowest: 1 "' S BRITISH TRADE. .'-The'trade of the United Kingdom coritinues to decline, and for June there is a shrinkage ; _o^.£G i p9Gyooo.; : -'..-!Fakiiig.-the monthly returns in ' "compari'sori w'itirthbjd'pf, last year, there is an enormous' shrinkage. - The 'figures are, as under— Decreasein Decreaso.in Imports. Exports. „ £ . . January' ... '■ ... • 4,1GG,-tSB GG2.SIO '. February ... ... 499.752 123,631 March ... ... - 5,G25,GG2 1,828,610 '-.April '"... . .' 9,682,792 2,711,528 ,'May» r?.. 8,344,418 . 5,855,671 I-.' 1 ' \ June—- ."v. l .■ 1,669,000 ' 5,227,000 . . In, the Jialfryear, ..there is a shrinkage of .£46,898,422, .-'a sum-large enough to cause the Chancellor of tho Exchequer,to.indulge in pessimistic sentiments. But the-United "Kingdom is not alone in this matter,,-practically ovory country is suffering from a set-back, .and this industrial; dullness, and distress wsrkoM.4V-..J: ' MINING AT GR.KAT DEPTHS ON THE ,'RAND. ' | littjfe ;addihon- has ; for : mdny years past beeri'made't'o'the lateral extension of tho gold-. ,bo'aring cpnglpmprate' beds : pf the Witwaters'randj ;dejpito all'the', prospecting and diamond drilling", which'v'has': taken, place -on the far , eiistorn.'and, {aj^iW'.estefn;,sections'pf the RAnd. 33vidently, the ■ auriferous-area in this, tho greatest of- i ,the,..werld's ! ,gpldfields, lies: in its ; ,dcep-levels,, v b.ut,. tho - golden beds here great depths have to"bo. negotiated, necessitating the-hoisting of the ore'from very great depths. To do this, largo sired deep shafts have to, bo.'sunk nt great expense—such shafts as tho Howard shaft'on 'thevJiipiter, tho Cattlin shaft, .on the: Simmer West, the various shafts On the ' Siinmer'-Mepj, .Cinderella Deep, Robinson Deep, ' ihd -yillage 'Deep; These rank among'the deep "sfia'fts : of thb--world,...and in no' other goldfield aro so many deep shafts to bo found as upon .the Band, anil"the extension pf:the field will be in sinking still deeper shafts. Tho advance cf electrical' methods- in pumping and hoisting and 'the big central generating'stations ham-facilitated the operation pf mining to great dejuhs'hc'ro; in fact, eloctricity is being adopted '.iii*nearly mining on this field. ' The:' Simmer" :no'w crushing ' "plant "'i.-i'^to"^'electrically driven. -The system adopted is that of . using a . number of small motors, each driving ton-stamps, the advantage ovW-'s'tbain ''bein'g'-reduction of loss of .timo through 1 breakdbwns, as orte 10-stampiunit can ' bb" shut' off;'withp'rit.interferencosw'ith the' rest ' of the' mill;Th'e'-''RandV however, is not the only district, where' the absence of new discoveries 1 has comp'ellfd"Jrlining to be carried to great depths. It' is the same all over—in the Victoria mines of Australia, the Mysore mines of India,-in those „ofrCripplo Creek and Kalgoorlie districts, as well as in tho Lake Superior ■' minosi where'.great; depths have now been reached and new methods have, been devise'd - -to-overcome- t-ha - difficulties in .connection with sinking, pumping, and hoisting the oro from these greater depths. < - -Last -weeki the! Customs revenue and beer • "duty' eollectbd-' at Wellington was .£13,139 12s.' ldvnnd-.£281 19s. 3d. respectively. Tho figures for the corresponding period of last year were . (revbnne) : 8d i ., and (heir) .£lB7 13s. ; - Bd;"fln;;.Saturaayi tlie;"amount of revenue col-/ ' "lectedr'amouiitedc.tb 1 106 Bd. ; while the •! -corresponding- day"of., last year yielded X 2359, '. 17s. lid. : „Ar • -Zi dredging. , fitt, TELEGRAPH—PHESS ASSOCIATION.) '■<' ' ,* ' , . Dunedin, July 11. ..-.Dredging, returns:—Rise and Shine I, l sloz. ; 'sdwt. ! J 'Golden Bed, 1 4-loz. . 12dwt.; Waikaka 11, 330z. 2dwt.; Wnikaka United I; 307.. - 12dwtrr-Aloxandra ■ Eureka, 20ok. _ sdwt.; Riso " and Shine 11,190x/ldwt.; Waikaka Queon,lsoz. ,Bdwt.'j .Olrig, 15pz:".ldwt. ....... | MINING NEWS., '. 5 .7/- ! (rir TEtecnAPli—r.REss association.) . Reefton,-; July 11. ) ' The, Big . River, repprt for the Week 3 shows, that- work-'was continued- on a. small 3 scale .brilyj'-one winding drum in uso being 3 used for: the-hoisting'of miitorial to the sur--3 face. The new heel of the other drum.has nr- . -il,ve'd„ anfl - -will -'probably bo 'ready to work - eiftly next week. • In-tlie stbpes, work has been r 'confined I ®, to the ■ riidllock faces " principally^ 'Privhig iff tlie'' No.'! 9:' level. south has been rer coihmenced. ■ -..Fifty-tons of stone has been f 'i'dis'ed. V'"" k

STOCK AND PRODUCE SALES. Messrs. 'A. H. Atkinson, and Co., Ltd., reports—At Feilding on Friday wo held our usual sale of horses, pigs, poultry, and produce. A small entry of pigs camo forward of good quai. ity, which met with keen competition, and by no moans mot the demand. Tho demand for poultry was again far above tho supply, and birds sold in vendor's favour. There is a keen doinand for white leghorns, ducks, etc. Quotations:—Horses, 9-year old three-quarter draught mare, JJI4 10s.; aged ponies, .£1 15s. and £2. Pigs.—Small porkors, 20s. 6d.; bettor sorts, to 3is. Gd. Poultry.—Hens, Is. 8d„ Is. 10d., Is. lid., 2s. t 2s. Id., 2s. 3d.; roosters, is. 6d., is. lid., 2s. 1d.,, 2s. Gd. (all at each.) ~ i Produce.—Potatoes, 95., 10s., 12s. per-sack'; pumpkiiis, Id. to lid. per lb.; carrots, 'Is. Gd. to 2s. Gd. (small bags); horso carrots, 4s. per sack; wheat, 225. sack; oats, 12s. Gd. sack. BANK OF ENGLAND RETURN. UT TELEGRAPH —pnKSS ASSOCIATION —COrtltlGM (Rec. 0.50 p.m.) ■ London, July !). The Bank of England return- issued for tho week ending, Wednesday. July 8, is as under: ■

The leading 'itoms of the Bank of England return afford the following comparison:— . This week. Last weok. Last yoar.

. "/. GOVERNMENT SECURITIES. The following are the latest quotations for Government Securities, with a comparison of those ruling last week:—

, . THE MONEY MARKETS. '" - The .Bank of England discount rate is 2J per cent., to'.'which, it '.was reduced on May 29. The London open market »rato of discount forbest three, months' bills is l-16th higher-'at 11 -per cent.. Short loans -are. at J to '1 of,- 1 per cent.' The Bank of-England has released some of the money, deposited in, connection ■with the Irish Land Stock issue of .£5,000,000. COLONIAL AND OTHER PRODUCE. Wheat.—Owing to hot forcing weather; markets are quiet. There, is little ■ disposition to buy for forward delivery, but less depression than last week. • A record crop is expected in Canada, where the harvest, probably will .be in full swing early in August. A March shipment of 7000 quarters Australian was sold at 365. 9d.; and 15,000 quarters 3Gs. Gd. Flonr.—The markets are very quiet and unchanged. Boiler.—Market is. firm. 'The lonic's New Zealand cargo selling at 114s. to 1165., but inquiry small. ' Sugar.—Market- is . irregular.. German bee' lis. Gd., with first marks fetching 12s., 1 lid. Tho kauri sales were lifeless. - Four hundred' and eight-eight • cases wore offered, but - nonsold. ... . • -. Pearl, shell—Good .sales at .from ss. to 10s. advance. ! Bradford Tops:—Tho Bradford tops market is animated. Thero is a strong inquiry for all .sorts.'. Topmr.kers. unvo advanced quotation*, but there b littlo selling.' Quotations, common sixties 221 d., •super,23jd. ' ; THE : METAL ; MARKETS. . ' ; Copper.—On spot JE57' 16s. '3d., three months J66B' 10s, electrolytic £59 per' ton. • • • • ■ Tin.—On, spot .€l3l 155., three months .2132 15s. per ton. Recent low prices have induced heavy'speculative buying. Lead—.£l2 17s. Gd. .. . " '

iy■' Eosorvo 5° rt,«' .»§ " PRICES. Yiold tV" ' ' COMPANY ' Capitol, Fund and J<ut v n«v to {•-'V Paid Up. BoJanco pco gjj ftr g ' . f « Ijasb Investor. . Forward. r"r p Buyer.,- Sollor. • g a j 0< \'V V ' ;BANKS. - - / : '•*•••• • £ '• '-j £T'S.&. £ e. d. i's. d. £ i. a. fe- 1 / Hew Zealand-'.:.:--... ... J. 2,000,000 .. 504,097. si 3S ' 10 0 2 6 *0 6 0 0.0 0 ,3 14 1 j?/;-' v. Rational ... '... ... ... 375.000 335,318 jjJ 15 12 5 1 6 5 5 3 ; 5.5 0 5 11 3 -.' .. INSURANCE. }. j ; ['I'/; (T;V: [rational. ... ... ' U' ... 100.000 24?,339 i unitd, 15 17 0 ' ' f. New Zealand ... . ... 300,000. .296,674 o • 8 ■ 10 315 0 3 J6 0 S15 6 g It It f&x: South. British ... ■.;. .... ... '. 100,000' 43-2,210. 1 4i SO 2 15 0 2 15 0- 6 10 7 Standard ... . v-1 '"'75.000, .'.52,386, Ta ,'T9i.:-10' -l.'l'O J 2 3 12 3 ■ FINANCIAL. ! -Equitable Building ... - ... cO.000 £0,743' r 6 10 10 0 0 10 2 6 10 2 6 4 19 0 N : ;-. --'..Metropolitan- Building ... - ' EO.71-2 6,688' jJ, nil 7 •• if': -■'■ / - WellinKtori~Inrest. ... ... • ... «J,000 3.933 i . J { Oil 3 0 13 3 012- 3.5 0 0 'Wellington Trust and Loan : ... ,101.2CO ; 44,334 , e . 5 8 7. G 0 7 9 0 7 11 6 .-5 -6 2 National Mdrfgagfr ... - •••" 'EOO.OOO 127,746'' . 8 '' 10- 2 10 0 3 0 0 ,3'0. 0 613 4 I V N.Z:and-'-ltiver l'lite '..i' . - 300.000 : Mi!,000: J nil . 8 Hi ' 6 1 li 0 ..111.6 4,811 ; loan and Mercantile <-135.223: .315,133 } '.. ti 5 0 3 11 0 4 6 0 4. 0 1210 0 k'-V ' ; '-;'--CAS;" : i; ; Auckland \ 3F0.370 ' f5.453 r , nil., 10, , . ' ■ Chnatcnurch < ... .. I.. . '... ,160.000 70,'.18, r. - nil' io 917 6 10.2 6 ,10 0 0 5 0 0 '. . - l-'eilding- ... ... . ... .V. .li.OOO, ' "iBi i ail' ... 019 0 1 0 0 013 6 Gisborno . J, V-; ;i:.17,300 -10,565 t ! nil 132 2 12 6 310 '0. '5 10 0 ' Uttwera--,..' P.iiiO. - ■ 604 a ■ i 10 . : - 1 v ■'-L-. : "hew Plymouth ... ... ... ... .16,000 -'3,169 g ' nil. 10. . . - , .. Napier. :'... ■■■ ) V -id 15 ' ■ -1- ' . „ „ ' ... :.. ... .» |. 49,957 . . 23JE4'. .5 ; 5 15 3 2.6 ' , . • Palmcrston'.-North"•--—v.r 1 r;.27,000:, llfflB ' <1 1 ' 'j„ ;10 I; . ' .Weilinston, ... ... ••• *•,£ -1.71 -y,?. j * ii'ioti 10 -nil-- 10 19 ■ 7 ■ 6 10 12 6 19 7 6 5 3 3 y.; : v 1 5 • 5 • 10 1010 0 - "... Canterbury ... : 1E3.727 T2.666 i\ -—EJ" 8 8 0 0 ; Ohristchurch v , ;77,6-lii. 10 nil;' -' 8' 'lO' O ' O lO 0 0 10' .0 T14 T i'.: . Gear ... : ... ; ... ... :... mo ; .ffi°61 >1 4tiil; .125, i2"9 .,210 0 -2 -9-..0 5 2 0 r.-r-' . - ' ... .;... /• ' i 6 i>i £l 15 0 10 0 0 . , , : Wellington Heat Export ... ... |\ . ...5 ....nil.. .8 "612 .6 ; ' -' -..." •... ... 105.7(55 63,767 4 1' ■ g 5 2 0.. fc' ■ - „ „ ... I ■ . . ' 1 -23' 8 -3 5 0 ' j;. ;,'; v' - ' .; ■ VSanuanui .. ••• ... ■ ;'-.f5,550. . .10315 . 5.. nil '. ,B' S ' , . ' ' i. . : ' - TRANSPORT. ; - ' { % i: ' 3 •' and'M..r.aihVay 170.000 -.121,45-3 ..'.'i' _ 4, - .7 - 2. 7 .6 2 9 0 ' ,5 9 0 2 17 2 i. jl.Z.Ulliuping t ; 4fi)|840', ;110,7b0' s nil ' 5 0 10 ,6 2,6 6 0 0 6 13 4. ■ -' Unioil bieam L ... ! ... " ... ■ ...- tlO.U/J - -bcl/ji/ j nil '95 1'14' 9 "l-16 0 1 14 9 5 9-3. ... V iVctii. bt»am-Jfcrry : ; .., : . ..v ■ & j nil. 0' ,0,17 6 • ' "1" r : V'?- ' V^r eBt port' ; '-feooo'- "117.215 . 3 J 1} 12} 616' 0" Vl6 0 6 IS 0 6 1 0 p .- Taupiri • t5.a-j 6A'J 1 ; nil 7? , - . 10 0 . .01J 6 714 .0. L.': .. ' . . . WOOLLGa. ' V.'' -- i 1 -. >Kaiapoi* ' ... ... I- ■ J0p,000 o2,651- - ,5 .-\65 •; '; n '.i ' is ! Jiosffiel ... ... 1 ... *m,457-.' . l'i ,'21'/ 3i - - li 4 . - ■ 3.1.0 412 ,0 V ...' >..s,IJW «,*vi I ;.IiS"6; i t 3;S>. p; ,-3 9:6 3 8'-0 7 1;2 V • hisceuaneous. : ? Donajihy "Rope'"" .'.7 — 5J.COO -'• ■ 151 " r~ "nir ; 6 "T'S 0 "1 4 0 r ; . 'Leyluud and O'Brien 1 - L5.CCO . E7.761 ; l-nil l5 226 236 236 700, . . MauricevUlo' Ijime,;. ... - ■ 7,000?. j>-. <. 205 »l -'"nit -Br* £* iW'-iX:-''':-''-'h.Z. Oandle 'lO.OOpr'rt.vHSi-.'lO , 'Jf'VfJ v - - HX. llruea ... •... 560,doo " i6, r r3<r 2 nil" " 7 i'lO, f 1 S11 6 211 0. ,! i 0 - ■, K;il. Paper Kills ' -S.4,775 ;.-l,£82. 1 ; D U. :.7- 1-1-9 .1 3 3 1 3-0 • . -«.Z.-cement .... ... 40.C00 ?; 2,C4«- llilnii: .nf , .'-..v.:.-, •'..'••':.'lt»nninB. and- Oo.: .r. ... ... -; lo,000 ' 17,670 • 4 . 1 io .3 16 0- 3,16. 6 10 9 1 i;'.:-' Ward and,Oo.;.-....-.„„ ; /-'to,COO ...10,£55. .-4 — - lr"J0 ' 4 15-0 -5 0 0 .4 15 .B • 8 5 • . - . Wctn. Overa. Homo ... ... j ...i'.:.'lb,6M 1 H05" ' '5-:''nir,:,:,lS5. •• . . Wstu.'tteih Food., ..... 28.-261 '1.'. 'nil . ' ". ' " • Wliitcoinbe ahd-l'omba 7 . .j 46,550: - ■ [0,150 -5' --■nil-' 19 - ,. ■ -V ' ■ p! ■ . y .iikarlmd. Ltd. ..... ... -j 43,676r fl, ■t.SU?' » 1' ;?;fiil" /'j| .. 71 0 iO- . 0 19' 6 . T14 . 0

IEBDE Dr.PAIiTI.rENT Hoto Issue ... £54,637 ,CC0 G ov. debt £11,015,000 Othor securities ... 7.434.000 Gold ... £6,176,033 (, £51,627,000 . £54,627,C00 Basking Department. Proprietors' Govt, securicapit&l £14,553.000 ties ... £15,227,000 Tublic do- ■ .: • Other 6ecuri- • posits ... 4.6S3.000 ties ... 29,938.000 Other- de- > „„„ posits'...' 4B.S32.000 Notes .*.. 21,876.000 Rest, 7-day ' and othor Coia ,.. 1,SCO,COO bills •... 3,423,000 £71,691,000 ' £71,691,000

.. Variations ' •; Prico compared J,'..- . 1 rlco W lth • lastTOoek. ' ■ '■ : ■ £ j. d. ' • . • j 2i % Imperial Consols... ■ ' .;. .■ 87 15 .0 2s. 6d. loivor .1 „N.S.W.1033Jan.-J«ly' ... 1C7 5 0 ' Ss.IOTor Si „ N.S.W. 1918 Mar-Sept ' i... 100 10 . 0 . TJnchansed 3 „ N.S.W. 1035 Aph-Oct. : ..1 .89 JO ;0 Unchanged i „■ Vie. 1920 Jan.-July.;.: 101 0 0' Unch'nncetl 35,,-Vic. 19*21-6 Jan.-July ,...100-0 0 Unchanged . 3 Vic. 1920-49 Jan.-July ... ■ S9 10 0 Unchanged 31'.. S.A. 1916 Jan.-July ... 100 0 0 Unchanged B '„ 8.A. 1016.Jan.-July ... 86 10 0 Unehangod '4 „ QTdl915-2l Jan.-July ... 1C110 .0 .Unchanged 8i „ QTdl024'30J&n.-Ju]y ... 99 5 0 63,hiebor 3 QTdl932-i7Jan.-July ... 88 15 0 10s. lower i „ N.Z. l(»)May-Nov. , ...105 15 0 5a. higher Si .. N.Z. lOiO Jan.-July - . ... !» 10 0 Unchanged ' 3 „ N.Z. 1915 April-CJct. ... SO 5 0 5s. higher ' 34 „ W.A.19iO-401£ayrNov ... 9.1 '0 0 UnchaMod I ■ 3 „ W.A.1915-35May-Nov. ... 83 0 O 103. lilfihor ll.. Tas.lDWJan.-July ...' ff) 10 0 lOs.liiehcr 3 H 'las. 1MO-40 Jan.-July ... *88 ,0 0 Unchanged