COMMERCIAL.

Dominion, Volume 1, Issue 282, 22 August 1908, Page 8

COMMERCIAL.

■ THE SHAKE MARKET. Investment shares wero dull yesterday, and no business was done., National Bank shares wore on sale at £5 25.; Wellington Trust and Loan, sellers, £7 Bs.; Wellington Deposit, buyers 9s.,'sellers 9s. 4d.; N.Z. Loan and Mercantile, buyers, 4s. Id.; National Insurance, buyers 275. Gd., sellers 285.; South British surance, sellers, £2 15s. Gd.; Standard Insurance, buyers, 225. Gd.; Wellington Gas, sellers, <£10 7s. Gd. and .£ll ss. for the respective issues; Gear Meat, 20s. paid, sellers, 5Ss.; Mont Export, sellers, 625.; Manawatu Rails, <i, sellers, 495.; Wellington Woollen, bnyers .£3 75., sellers .23 10s.; Westport Coal, sellers, -CG Bs. Gd.; Donaghv Eopo and Twine, sellers, 235. Gd.; Kauri Timber, 15s. paid, buyers, 12s. 9t1.; N.Z.- Paper Mills, buyers 225. 9d., sellers 235. 3d.; Sharland's Ordinary, sellers* 205.; Tara- ■ ■ naki Petroleum, sellers, ss. ' * THE MINING MAEKET. • Tho slump in' Talismans appears to have affected tjio market generally, for there \vus extreme quietness yesterday. Talismans fold at .£2 2s. Gd., and although this is a shilling less than tho price realised the day before it cannot bo regarded as other than satisfactory. It shows, at least, that. not moro than the usual number of shares are coming on tho market, and it is very probable that thoso who are selling now aro making a very, fair profit. Tho pleasing foaturo is that thero is no panic, and no disposition to sacrifice shares, yesterday's Quotations wero as under . ' Bnyers. Sellers. Sales. £ s. d. £ s. d. £ s. d. Talisman 2 2 3 2 3 0 2'2 G • Waihi , ... 9 4 0 9 0 0 - Taugiaro 0/15 0 17. — N.Z. Crown ■ ... 0 4 3 — — Blackwater ~..*149 — — TALISMAN CONSOLIDATED. Tho latest newsregarding the Talisman is satisfactory. Tho manager, Mr. Stansfield, telegraphed to the Local Committee yesterday as follows:—"Talisman Board cable that prompt steps are being taken to equip Woodstock shaft with plant capable of drawing the whole of tho mine." This means that tha London directors of tho- Company are fully cognisant of the urgent necessity of providing additional pumping plant, and prompt steps are being taken to meet tho position. With respect to the Woodstock shaft, tho following taken from tho chairman's speech at the annual meeting of shareholders, held in London on June IG, will ■ bo read with interest:—"Sinco tho directors' report was settled, wo have received a communication from tho manager in regard to prospecting the northern part of our Woodstock lease. They state that the present" Talisman shaft is too far south to enable work to be carricd on on the Woodstock loaso economically and, expeditiously; but tho Woodstock shaft, which has a depth of about 250 ft., nearly the random of our No. 13 level, could bo sunk 400 ft. further—that is, to what will be the depth of No. 15 level in tho Talisman shaft— and from that point drives could bo put out both north and south. After the South drive was connected with tho Talisman workings at the No. 15 level, the shaft could bo used for getting the men to tho lowed levels in tho Talisman workings in much less time than going down the Talisman shaft, and it could also bo used as a drainage shaft for tho wholo of the mine, which is a very important consideration. All that would be required to commence with frpuld bo a winding gear and a pump capable of handling 25,0CU gallons of. , water per hour,." Tho flooding of tho mine at this juncture practically forces the directors to-, carry out the proposals sketched in tho above, and on the whole, beyond the tomporary stoppage and slight loss, the flood appears to be a benefit. : AUSTRALASIAN WOOL EXPORTS. Tho exports of wool for the first month of the. new wool year, which opened on July 1, according, to .Messrs. Dalgety and Co., show anjncrcaso of 22,634 bales, made up as under.:-: . ' 1908. . 1907.: , Bales. Bales. Victoria, 4,469 2,180.i N.S. Wales 29,200 15,796 Queensland 10,553 6,698 •. S. Australia 359 60 W.Australia'.. 540 1,300 New Zealand 1G,59S 13,051 .. 61,719 39,035 . Theso figures show that a rather large quantity of wool was held back or' dolaycd in shipment, probably becauso of tho low prices, and the hope of the owners that values would improve.

AMERICAN TRADE CONDITIONS. Hopes are being entertained that improved conditions will be associated with the American markets. : The mail reports from Now York respecting the general position of trade thcie are to the effect that the improvement previously indicated had shown a decided increase in nearly all lines of trade. The feeling of hopeful expeotancy for three or four months past had now-become assured facts. The winter .wheat crop had been harvested, and was a very large one, while'the spring wheat crop was likely to prove one of the largest produced in the country. The hay crop was the largest ever known, and the outlook for oats, corn, and cotton at the time the mail left was of the very brightest. If these conditions continued America, was certain to bo blessed with . extra fine crops this season in both volume and quality. This would mean an enormous addition of wealth to itie country. .Producers and manufacturers wero counting confidently on this result, and showed no disposition to invito new business by granting concessions in prices, but there was a very general tendency on the part of manufacturers to make preparations foT an increasingly active business during the last half of this yoar. Stocks had worked down to a small compass in Amorican markets, and it was thought that later on there would again be some difficulty to secure prompt delivery of ' orders placed. The U.S. Steel Corporation.reported a decided improvement during the week or so before the mail left, much larger orders being placed I nunearly all lines. Work was being resumed ! at ~many of their establishments, and. lar?a numbers of men were being ro-employed. In view of theso conditions it was not thought possible that purchases would be mado at lower prices. "Business effected now would be ; to bettor advantage to buyers than later on." concluded tho letter from which the above extract was copied.

WORLD'S STEEL PRODUCTION. The steel production of the world, in metric tons, is given as follows:— „„ , „ 1806. 1907. Changes. United States-23,772,506 23,733,391 D. 39,115 Germany 11,135,085 12,053,632 I. 918,547 Great Britain 6,565,670 6,027,112 I. 61,442 Three chief producers 41,473,261 42,414,135 I. 910,874 " .• 515,200 516,300 1. 1,100 Belgium 1,185,660 .1,183,500 D. 2,160 ™ CO -- 2,371,377 2,677,805 I. 306,428 Other Europe 3,670,500 3,986,600 I. 316,100 Other countries 420,000 405,000 D. 15,000 T °M - 49,635,998 51,183,340 1.1,547,342 Germany uses tho highest proportion of pig w of and Great Britain tho . least. Jhe proportion of steel to piriron production, which was 92.4 in Germany, was 90G in tta United States, and only G5.7 in - ™\ Britain. Wrought iron is still an important part of British production, much more It-rW, 11 a ? y c - ountr .y except Belgium and stocks are piling up, and there is n general hunt for foreign markets. DREDGING. (DT TELECEAPH—TOES3 ASSOCIATION.) Ti j * , „ D »isdin, Angust 21. Dredging returns.-Havtley and Riley, 112oz Bdwt.; Waikaia, 60oz. 4dwt.; Electric No •> , 560z.; Chicago, 420z. 3dwt. 12gr.; 41oz 3dwt. 4gr.; Mystery Plat, 270z. 6dwt. Electric No. 1, 220z. 12dwt.; Central Charlton 13oz. 18dwt.; Muddy Creek, 12oz. 6dwt.; Lady Roxburgh, lloz. 14dwt.; Welshmans, lOoz 6dwt.; Waikaia, Goz. 4dwt.; Koputai, soz 13 dwt. STOCK EXCHANGE. (Br TELEOBAPH—PP.SSS ASSOCIATION.) ' Dunedin, August 21. Stock Exchange sales—Hartley and Riley, 145.; Talisman Consolidated, £2 Is. (two parcels); Kauri Timber, 14s.

GRAIN MARKET. (DI TELEGEAPII—PRESS ASSOCIATION.) _ . . Christchurch, August 21. The recent inquiries for wheat havo given tha ■ market a firmer tone. Tho demand was from «.ortn millers, whoso stocks were running out. Very few growers were willing to sell, and most of the .lots that hare changed hands were small. For pearl and tusoan alone. ■fir with part hunters, 4s. at country stations has been paid, but for hunters alone no mere than 3s. lOd. ■ would be offered. Oats are still dull of sale, and Chaff Is weaker in consequence of no new Australian t coming to hand. There has been a little inquiry for table potatoes, but further consignments from tho South for Auckland will again

fill up tho Northern markot. Thero is a brisk demand for "early rose," and "beauty of liebTon-" seed potatoes, which appear to be scarce. Cheese is firmer in consequence of tha demand from Sydney.

WAIHI GOLD. MINING 'COMPANY. (DY intEGIIAPn—riIESS ASSOCIATION.) Auckland, August 21. During tlio four weeks ended August 8, tho Waihi Gold Mining Company crushed, and treated 31,485 tons of ore for a return of bnllion valued at .£7l/517. This is tha seeond highest monthly return in tho history of tha Mine, having only been exceeded by tha record yield of <671,850 from 31,336 tons treated in the period ended March 21 last. The output for the four weeks preceding (May IB to Juno 13) was .£70,209 from 20,-130 tons. The present return also compares favourably with that for the corresponding period of last year, when 25,739 tons yielded .£G8,578. Tho total won from tho mino during tho present year now amounts to £555,211, and' the gross value of tho output to date is /8,«5,52J. ■ WELLINGTON .MARKET REPORT. Tho Now Zealand Farmers' Co-operativo Distributing Company,'L'td., report as follows:— Maize, 55.; whc.it,'fowl, 55.; barloy, feed, Is. 3d.; barley, Capo seed, 4s. Cel.; maize, crushed, ss. Gd.; oats, 3s. ' Id. to 3s. 3d.; oats, discoloured, 2s. 9d.; oats, crushed, 3s. Gd.; oats, seed, duns, sparrowbills, gartons, 3s. Gd.; African Algerians, screened, 4s. 4d. per bushel. Ryegrass, perennial, ss. Gd. per bushol; hay, £6 per ton; straw; .£3 ss. por ton; pollard, i£B 10s.; bran, ,£7 per ton; sucrosine, £7 10s. per ton; linseed oil cako (genuine), 15s. per cwt.; prime oaten sheaf chair, ,£5 15s. to .£G. Potatoes, table, £5 15s. to ,£G per ton; seed potatoes, specially selected, Canterbury Up-to-dates, <£G 10s.; Canterbury Derwents, .£6 55.; Victory, £5; onions, -£12 10s. Butter: ■ Separator, Is. 3d.; milled, Is. 2k1.; dairy 'pats, Is. 3d. per lb. Eggs, fresh, Is. 3d. to Is. 4d. por dozen; honey, GO's, 4Jd.; bacon, sides, 83d., rolls 9|d., hams 9}d. per lb.; porkers, 70's to 90's 55d., 90's to 100's sd.j baconers, 4Jd. to 5d.; choppers (heavy), 31d. por lb.; beeswax, Is. 6d.; fungus, 4jd.; walnuts, 4Jd. to sd. per lb. Cabbage, 4s. to 55.; cauliflower, 13s..per sack; Swedes, 2s. to 2s. Gd. per cwt.; pumpkins, 7s. Gd. per sack; carrots, table reds, 3s. to 3s. Gd.; horse carrots, 3s. per sack. | Apples, dessert, 10s. Gd. to 135.; apples, cookers, 9s. 6d. Poultry.—Table roosters, 4s. Gd. to 55.; cockerels, ss. to Gs.; table hens, 4s. Gd. to ss. Gd. ; ducks, 75.. Gd. to, Bs.; geese, 7s. Gd.—all at per pair. Turkey, gobblers lid. to Is., hens lOd. —livo weight. LIVE STOCK SALES. Messrs. Dalgety and Co., Ltd., report as follows:—On Tuesday, we held a clearing salo on account of Mr. W. IC. Connell at Waverloy, when wo offered 200 head of cows, also young stock, pigs, etc. There was a fair attendance. The cows dragged at the start, but livened up as the sale progressed. Forward cows in good condition sold well,- but backward sorts wero neglected. Quotations: —Springing cows, in fair • condition,- £5, £5 10s., .£6, _£G 10s., Jl6 155., £7, £7 10s., to 155.; backward cows, £3 to £5; empty cows, £2 10s. to £3 10s.; cows in milk, poor, condition, .£2 15s.'to £5 55.; bulls, £2 to wSS Is.; miied weaners, poor, 10s.; sows closo to pigging, ,£3 to ,£3 10s. Gd.; backward sows. 17s. Gd. to £2 155.; broken mouth ewes, 2s. Gd.; spring carters, .£ls to .£2O 10s.; milk waggon, ,£2l; dray. £7 55.; buggy, £S. Messrs. Dalgety and Co., Ltd.. report on their Levin sale as follows:—Wo had a full yarding of sheep, represented chiefly by hojgets and wethers, which mot with a good demand at tho following rates Hoggets, Bs. od., 10s. 5d., to 10s. 9d.;'2-tooth half-bred wethers, lis. Sd.; others, to 12s. Sd.; fat wothers, 15s. to 17s. Gd.; fat bullocks, ,£3; forward cows, ,£3 lis.; store cows, .£1 Is. to £2 45.; bull, <£3 Bs.

Mr. Newton King supplies the following report on sales held by him during the week:— At Mahoe, on Monday, Mr. T. Wilson's clearing salo was wellfattended, and good prices were realised throughout. Early calvors made -£G to £8 155.! need and backward cows, £% 13s. to £1 ss. ; bull,-'*l 155.; trap mare, .£l6 10s.; storo pigs, 28s. 6d. At Rahotu, on Tuesday, there was a good yarding, including two dairies from Messrs. Nuttalt and Condon. Calves to yearlings made 20s. to 30s. 6d.; yearling steers, 365. Gd.; heifer do., 3Ss.; 2-ycar empty heifers, 375.; storo cows, 355. to 455.; fat do., <£4 lis. Cd.; springing cows, i£s to .05 12s. 6d. On account of Mr. H. Nuttall early calvers made ,£G to aged and backward do., ,51 15s. to £a 155.; on account of Mr. Condon, early calvers .£5 to £1 155.; lato and aged, .SI 10s. to .£4 ss. Tho samo day I held a clearing sale at Stratford on account of Mr. G.Sangster, when early calvers mado £d to £7 10s.; backward do., «£2. to £1 155.; springing heifers, M 15s. to £5. , At my Stony River yards on Wednesday springing heifers mado £2 14s. Gd. to JM lis.; empty do. ,£2 to £2 95.; yearling heifers, 255. to 345. (id.; calves,' 17s. 6d.; storo cows, £2 to £2 155.; forward and fat do., £3 to JZi 10s.; 18 to 20-months stesrs, £2 to £3; bulls, .£2 4s. 6d. to £3 10s.; 3 to 4-year bullocks, £i 2s. to' .£& 12s. 6d.; store pigs, 18s. to 2Gs. On Wednesday I held a salo at Midhurst, on account of Mr. L. Baskin, early calvers making .25 ss. to £9; late and backward do., £2 ss. to springing heifers, .£3 7s. 6d. to JES 12s. 6d. . At Waiwaikaiho, on Thursday, there was a good yarding, but bidding, for most lines was quiot... Calves made 15s. 6d. to 18s.; yearlin» heifers, 21s.;'6d.' to'33s. Gd.; cows in calf, .£2 15s. to £4"; springers; i£4 Ss. to £5 10s.; store cows, 325. Gd. to £3; bulls, to .£4 15s. Mr. Hale's Jerseys were a nice lot, but sold at prices in favour of buyers. Cows close to profit made £6 18s. to ,£10; later calvers, .55 to -£G; springing heifers, .10s. to .£4 12s. Gd. The Customs revenuo collected at Wellington yesterday amounted to J52184 ss. lid. ■ ■ 'HIDES,".SKINS, Etc. Messrs. A. •H. ■ Atkinson and Co., Ltd., report:—On Thursday at our monthly wool, skin and hido 6ale wo had a good attendance of buyers, and offered a catalogue of 24 bales, GO bags wool, 1350 skins;'3so hides, and 68 tins tallow. The wool offered was mostly crutchings of fair quality, for which competition was keen, at prices about;Jd. lower than last sale. Bidding for skins was spirited, good fino wools making up to 51d. per lb. Hides were on a par witn last.month's sale. Wo quote:— Wool.—Fleece, medium 4Jd. to 43d., dead 2Jd. to 4qd.,. lambs 5Jd.; crutchings, medium 23d' good- 3}d.~to 33d.-,•--bellies, 3Jd.; locks, 2d.; pieces, 2Jd. Skins.—Crossbred fino wools, 5M.; medium .wools, 4d. to 4Jd.; shorts, 3Jd.; dead, 2Jd. to 3Jd.; three-quarter wools,, 43d.; crossbred broken 21d.; dead brokon, 23d.; black, 3}d.; lambs, 43d.; pelts, 23d.; pelts, brokon, Jd.; hall' dry skins, at each, half, wool, 2s. 9d., 2s. 10d., 3s. 3d., 3s. 5d., 3s. 9d., Js. 10d.« 3s. lid., 45., 4s id., 4s. 2d;, 4s. 3d.; dead half dry, 25.; shorts' half dry, Is. lid. • Hides.—Ox, 4-3 d.,' s}d., 3}d.; cow, 3d., 3|d., 4d 4Jd-> slippy, 2Jd.; cow cuts, 3d., cow, dry lid.; yearlings, 33d., 33d., 3|d.; yearling cut, Id.; calf, sd. to 53d.; calf, slippy, jjd.; calf, cut, 3Jd.j do,, rough, 4jd.; horse, at each, 4s. 9d. Tallow.—Good tins, 18s. 6d. cwt.; rough, 12s.

LONDON MARKETS. . Messrs. Dalgety and Co., Ltd., havo received the following cable advieo from their/London honso r— Butter.—The Copenhagen official quotation u i kroners (about is. Gd.) per cwt. lower. The total imports of butter into the United Kingdom for week ending August 15 amounted to 85,000 cwt., as compared with 73,000 cwt. for the corresponding week of 1907, showing an increase of GOOO cwt. Australian: Salted, 1145.; unsalted, 116s. Prices for Now Zoaland butter are unchanged. _ Tho market is steady; It is expected that if any change in prices takes place it will bo in favour of sellers. Frozen Moat.—Beef, Jd. per lb. higher. Prices for mutton and lamb are unchanged. . MOUNT LYELL RETURN. Melbourne, August 21. Tho Mount Lyell returns from July 10 till August 12 (inclusive) show that 25,931 tons of ore was treated, also 213 tons of purchased ore. Tho converters produced 700 tons of blister copper, yiolding: Copper C 32 tons, silver 52,739 ounces. QUEENSLAND NATIONAL BANK. (DY TELEGRAPH—TEESS ASSOCIATION—COI'I'ItIpITT.) Brisbane, August 21. Tho Queensland National Bank profits for the half-year totalled of which .£23,481 has been transferred to tho contingency account, .£15,000 to tho depositors' repayment fund, and i! 5000 to reserve.