FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 285, 26 August 1908, Page 10

FINANCE AND COMMERCE.

TIEB SIIARE MARKET. ; , Considering tho general 5 dullness. /affair amount of business was reported ■ yesterday. Auckland Gas Shares , changed"'hands at ,£ls yielding to tho invostor about 5i per cent. .■lvauri Timber shares 15s. paid sold at 14s. 10d., i-f. : and it cannot be; long before they are iit a pre-. . > The Kauri Timber Company'has paid ...; the balance .of its .5 per cent, debenture , v , dobt, • which means that tho Company is -now- ■ .' ;'freed from . all. its liabilities other than i ordi-, . w L nary. " trade . accounts. Tho speed' with which' Company - S ;lias relieved itself -of- its" debts the• past, few years has been most »: .to.,the shareholders; Bank of New XpCJ Zealand,shares;were on sale at at ■ £9.25. 6d M V and ; National j-Banks at >."£&: 2s. v..-Financial: shares .were quite,but steady. Wellington In-. sellers, 125.; Wellington Trust and Loin, sellers, £7 75.; National Mortgage, buyers. £3,^sellers-£3; 25,; Auckland Gas, sellers, <£15 t ' 105..'; Wellington Gas, £19 and. £11. ss. for. the ,-■■,.,. respective •; issues; National • Insurance," buyers ■ y..275..-6d.,, sellers 28s.'; New- Zealand "Insurance, / ■'. .■•'.buyers £3 12s. Gd, sellers. £3,135. fid;,- ex-.divi-j dond; Manawatu Bails, buyers J:2 _ Bs7 : ' 6d';_ sellers • £i Bs.. 9d.; Wellington Woollen, sellers'j £3 - 10s. cum div.-; Ivauri Timber, 15s. paid,, buyers ,11s. Bd.; Leyland-O'Brien Timbor, buyers, /£2 is. Gd.; N.Z. Paper Mills, sellers, £1 35..3d, THE MINING MARKET. :• % /■ ' :This market was rather quiet yesterday/ and ■a sale of Waihi Grand Junction at. £1 12s. : 2d. was all.tho business reported.'. Talisinan : Snvere : dull,-with .buyers .at'4ls.,'and sellers at 425. . 6d;,' ex div.''Tangiaros .were in demand at Is. • . 5d., sellers'ls. ScL Tho Wellington Stock Excliange has received the following telegram' ■ from tho managing director of the Tangiaro . '. Gold Mining Company :H"Eetiimed from mine'; "A/. - eowtry.;.. excellent,'* everything • .working -.splen- ,/,■■■. didly;, expect ■■ cut reef, at any '.moment." ljfesterday's.quotations were as • , ' k' ' : ■ v . - Buyers; • Sellers.,.y; Sales. >'■ ■ • £s. d. £s. d. £s. d. : Waihi Grand' Jun- , .- I f'o; ; ' tion. .. — v , — Hl2 2 ■ ' Tairua Broken . .*' , ' Hills 0 2 S — - , - Talisman ... ... 2 1 0 2 2 6 —' 'Waihi ... — 9. 4 G — -■- Waiotahi ■;.. — , — : 0 3 1- —.■■ ; , Tangiaro ... ;.. 01. 5 0 18 ' — U- Big River ... ... —■■■'■ 116 0 — * H\NCOCK AND CO (NEW ZEALAND). ■ iSi: '- The.-report ~of Hancock, and. Co. (New Zea-UaiidJ.'-.tLtd., for4the ; yeai. ; :'ended'Slarch';3l,. 1908,. .'states-that,.the profit.:.for; the. .year, after f, ..yiding'for- all management,'working expenses; v'V aud'incbmc.-tax,, amounted '.to" £29,251, to which. i :,has. to be'ladded tho amount forward from last '.. year,-of','dCl67o,,making a total of:-.£30,921.-The « ■ ■ ■ difectors .propose 'to .pay .a dividend oh -tho' 7 .ordinary shares ;of 8 pfer cent, for the'j v ffii','*aiid" '.to carry'forward ■ ~ DRIED FRUITS. : r ; ! . ' ;ilessrs;': : Latigliland;;Maelcay and Co., in their" ■ r dried*-'fruit'.-..'report 'dated London,: ; July 16; ;-v state.—Currants—Tho. oxports from Greece- forthe., season 1907-8 total, up to Juno 89;; 110,559. ... ' tohsV ; .of which- 1 5555, tons were taten -by ' Axis-' ' tralasia.'., Tho corresponding ; figures Jor"l9ofr7: . wo.re '12i,023,and. 5501 : tons respectively.- Tho ; stocks-; in ~London at the .end of. June '-were'. ' 5332, tons, ■ against 5021 tons last year. Tho p'rospcets of-.tho new crop: are satisfactory, but' ; in ' conse'quonco i of,; tho l drought ? andvthe '-alfaosb I '. unprecedented ' heat of: the -past few weeks, there are fears that tho yield will not exceed ; that of last yoar, while it may not'unlikely ba even ..smaller. From the appearance of the • crop it will probably be from 15 to 20 days ' than last year. Sultanas—The stocks in- London at end *of Juno Were 1885 tons, G9t, tons' last year.'.The new crop is estimated to reach -- 43,000 tons, against 41,000 tons last season, but the vineyards in many districts aro suffering from-drought,-the rainfall previously • reported not having been at all general, For f v this'reason a large portion of tho new crop will consist of small berries, and it is doubtful if tlia yield will attain to the above esti- , .. . mate. :. Elemcs—There is reason-to look for: a larger ...yield than last season,, which totalled 14,000 . ' tons. ■ Figs—Satisfactory reports are to hand of tho . * growing crop, and tho condition of tho trees V looks hoalthy. '■ Tho yield is, however, csti- ..; mated to be smaller than last year, which - reached 25,000 tons. Dates—lt is early yet to form an opinion of Icp. tho,' probable crop, but nothing" adverse" is at ■ present:known. ■ v;',.. Muscatels—The -weather,, in ,tho, growing dis- - ,Wcts:.has'.been-;favourable' to a- gpod/crop, but f 1 tho iilry.; hot ' weather; vtends to - produce small ..■■ ;fruit. ; ■ , ; ' ; r . Jordah'rAlmohdsT-Eeports.'do'.not'ngreo as to ' J : of ''the crop,;' but - tho,".' general' v, r i .opinion:'leans.' towards dearer fruit;.- ' S _ BEITISH INDUSTRIAL OUTLOOK. .: i.-f'l It seems that in many industries manufac- ' • i : turers and merchants are showing as muoh re- • signation as possiblo under the trying condition • of business at the present time. It is the inevitable they all say after tho long spell of pror • ■ , sperous: trade, but at tho same time there appears to bo a general anxiety, not so much to know how long it will last, but how soon tho . clouds may bo. expected to roll by. Business is very slow in most of the important manufacturing centres, Buch as Lancashire, Yorkshire, and in all the iron districts of tho North and Midlands. In Ulster a large section of tho operatives in the linen trade have been on short tune for months past, while the shopping industry throughout the United Kingdom hab not ibcen so quiet for several years, according to ro- , ports. received from the large : distributing ,■' houses. Ii) Lancashire there seems to be an ' opinion that so far as the cotton trado is concerned it will be worse before it is better and tint probably the acute stage will bo readied in the autumn owing to the heavy shortago of ■ Airerican cotton as compared to last-year, the . '• .. situation being rendered more difficult "in conse-

quence of the great expansion of. the world's -spindles during the five or six years of activity. The :'general outlook, ; however, grows raoro At home the farmers.are likely to havo a good year/ Tho hay crop has not been ■so heavy for a-lone time., Ininany important centres it is already gathered in, while in the backward districts with a few more favourable weeks,-little of it will bo standing. The farmer, ■however, never satisfied, views with concern a drop .in prices, in consequence of the heavy crop, while he ; also sees in the motor one of his future greatest-enemies; Already, mrihy of thc ! 'heavy fodder contracts have, been greatly reduced,, with the' steady decline in horse .-power.;in the big cities and towns. All other home crops are.said to-be, promising. Strawberries have, had a record year. .The reports from most parts of the. world are exceedingly good.'. The growing cotton'crop is in excellent condition in the "United States, as is also wheat. Tho same maybe said of the Canadian with its: greatly- extended acreage this year. .The latest advices/from Winnipeg stato that there is the promise of a record-breaking harvest. A hdpefii'iview of South American -rospects' is no* hold, while news from the Near J3ust of late is-more assuring. . .;. ' . .-. . • y . ■•'■> . : . ■ ■ . The Customs revenue collected at Wellington 'yesterday amounted to .£1678 is. .:"•. : ~,-. .;. STOCK EXCHANGE. . .( .' \ | ,-. .;(BY TELEGBAPH—PBESS ASSOCIATION.) .a.'-jo. -.■/>.-■. !-f--'.'. ■ Dunedin, August 25. Stock' Exchange Sales:. Hartley and Eiley,' 195.; Waiotahi, 3s. 2d.j Loan and Mercantile .is, ■■ ■ . '■.•-:.■ ; ,';7 ■■■ • ; -.-- ■■/. •■ . '..:-.,: .. TALISMAN CONSOLIDATED. : > (BTTEI/EGBAPH,—SPECIAL COEEESPONDENT.) _.: _. ,' Auckland, August 21. ~r ; H<j\\-,lausman shares are held'is interesting, and a writer, in; the "Herald" has compiled a statement showing how the shares on the Colonial Register of the Talisman Consolidated are distributed in the Dominion. "In view," hesays, "of "the fact, that Wellington holders have shown a tendency to claim' that tho Talisman Mine is practically owned down there, an analysis of'the actual shard'distribution ' in the '■' Dominion reveals ono or two interesting points. It. transpires, for instance, that there . aro' how 149 more shareholders in Auckland than in Wellington", Wanganui, and several other, places iricluded under tho general heading .of Wellington, put together. Tho .sharos the .Wellington group of centres moreover only total . 640 more than those held in' Auckland. r.The : following table shows -in .'the-..border stated? the number of . shareholders ibn'S.the .' Colonial Register, the 'sharesVlioldSby'them, and tho value.of same capitalised at Saturday's market price of 13s. :— .:..;,....: ; No.of No.of Value. ■'■•■■■■• <■ ■■■ ■ Holders. Shares. ,£. Wellington , ' ":.".. ~; 331' 95.90G 20G.197 Nelson ■■...■■••... .„ 55-17,885 38,452 ■■Napier ■■-~.... '..,... ...' 18 2,115 4,547 ■Christchurch : ... ' ... 45 8,832 18,988 Dunedin'■..'/.'..■. ...; '-fiO ■ 7.570 16,920 Auckland" ... : i•. ISO '■ 95,206 204,821 Outsido the Dominion... 12 1,335 2,870 .' . . y _' ■ . 1001 229,209 .£492,795 ~ * Includes Wanganui, Feilding, AVoodville, and all territory tiouth of Wellington. t -"The -nbovo iigui'es are compiled-from the ;.bfficial,Tecqrds,.of,the Company, and'arc therefore reliable data. "It will-be noted'that on the basis of 435. per share the 229,209 shares on the Colonial Eegister at the present time have a capitalised value of .£492,799 (or .£492,795 stripped' of the odd shillings and pence in the case of each district), whereas the actual paidup value of the shares (18s. each) is .£206,288. As the figures show Auckland shareholders are largely in excess of-those in. Wellington and distriot, and only 29 less than an the wholo of the rest of the Dominion including Wellington, these statistics should set at rest tho question as >to which section of New Zealand shareholders are most largely interested in the Talisman Mine."- . the dividends of Is. 3d. payable ■to-morrow, - the. article says:—"By far . the greater proportion of the .£18,750 to be distributed : will go to shareholders on-the Colonial : Kegister. There aro 1001 of theso holding 229,209 shares, and tho amount payable to them - therefore totals £143,25 11s. 3d. When the Juno 'dividend was paid 228,409 shares wero held in the "colonies. It will thus be seen that whilst there is not a great deal , of difference, ,H6mo shareholders havo in the interim transferred nearly IOpO shares to buyers on this side. The following are the proportions of tho' j£14,325 11s. 3d.'payable to colonial shareholders in the various districts, named: —Wellington, Wanganui, Teilding, Woodville,' etc. (95.90G shares), .£5994 25.. Gd.rNelson (17,885 shares), i£lll7 16s. 3d.; Napier (2115 shares), ;fil32 3s. 9d. ; Christchurch (8832 shares), .£552; Dunedin (7870 shares), J/191 i7s. Gd.; Auckland (95,260 shares), .£5951 .2s. Gd.; . Outside the Dominion (1335 shares), ;£B3 Bs. 9d. AVellington with its outside districts tl\us. only receives ,£4O more than Auckland." ;■ A rumour has bcon current here that Mr. Stansfield, manager of tho Talisman, had resigned, but this is aathoritativoly denied. , LIVE STOCK SALES. Messrs. and Co., Ltd., report that at their Huntervillo sale yesterday they had a fair entry of cattlo. Fifteen to eighteen month Etcors, .62 155.; 17 months to % year steers, £3 2a. Gd.; yearling heifors, 2Gs. Gd. Messrs. Abraham and Williams' roport on their Johnsonville sale as follows:—A full entry of bullocks, mostly of prime qualitv. made up to 245. Gd. Best bullocks, £9 2s. Gd.to .£9 17s. Gd., $3. 63.. to £9; light, £7 17s. Gd. Wo had a heavy yarding of sheep, including somo extra fine wethers and' ewes. Heavy wethers' made from 20s. .to 20s. 4d., 18s. lid. to 19s. lOd., 15s. Id. to 17s. 2d., and ,17s. ,11(1.; owes, 14s. 3d. to 16s. Jd.; heavy. 18s. Id., 19s. lid. .

WELLINGTON SHARE LIST. ' v rr/-;'' ' Beservo • £8 T .. w ' c . FBIOES. vloitl i : •:',.••• COMPACT, ' Capital Fund ana P J iitjr per l* -- : 1 — to '•" ' , ■ ' . PudUp.., ,B»lanco. ' "I** Investor. ' ' ........ g Buyer. Seller. g a i e . BANKSt : ve ■ £ * £ £ & s. a. i s. a- £ s- a. £ a a 5,000,000 . 601,097 .i . 3} 10 0 2 6 0 0 0. 811 1 ' - » aUo ?M - ~ ~ ~ 375,000 £61,333 g 15 12 0 8 0 u INSURANCE, Rational « -• v..' '■■■ TOO 000 ; " r 249,330 "j nnltd. i a 1 76 180 17 6591 Kmi'th "■ ••• • >"• aXMOCr ' £96,674 $■ g 10 3 12 0 3 13 6 .315 0 5 6 8 kt 0 „ U iH„^ miBl1 •" SCO,™ !< 4l .S 215 3 2 15 0 601 - . , btandard _ ... _ KMM) ,| aj. # 1 8 6 1 8 8 FINANCIAL, . ' , , Equitable Building -.a ... ■ rniYY) dS.243 ?, b in .f ,, Metropolitan Building ... 1 L'oco ijsa ,5 nil . ? e \r ue \° n 7 t "' Eoioou . 5,fc50 V 4 6 ' 012 0 011 6 5 4 4 Wellington Trust and Loan ... - icl.iloQ \ 44,33-1, .. r :: 5, 1 7 7 0 7 8 0 5 6 2 '-V. hMwaal Mortgage ... 200,000 • l!!7,74ti 0 ~ 8 "10 ! 0 0 3 2 0, i^n : i"" . sco,ooo-:: ss6,i69: j. ••_ „ii„ 8 jiio 3 111 0 nor. 550 tow*, and Mercanwa jssgB; 315,133, .j ,■ tav- < 5 - 0 4 1 0 10 1210 0 CAS. .-Uv . . ; -v : - 3E0.3T0 -£5,463- nil' 17 " 15 10 0 15 0 0 15 10 0 V;V; •, ... 160,000': . t3.917. ,5 , nil io . 013 6 9 15 0 >"•- r uShS5?« 12,000 Mi « ni i ® 018 3 018 0 ■' 2136 210 0 6 10 0 ■■::::::m^ -v>..:■•••40,957. • £3454. J !j - % . |>j ; ' E 4j 7 i. Jo "? « 0 7 « 0 033 ... ... ;;; £>124,570 71.798 10- nU 10 19 0 0 ■.i: r i . . .... . 5 .5. 10 . 11 5 0 U 1 3 110 5 .. ■ ..v. ' heat. . ; , • V. 1 . ' • Canterbury „ •_ unristoHuroh,. ... .. .... •*; S?'5?§ 75 Si 6 8. ° 0 - ; (iear ... ... ™ ... . - w - . 365,920. . 77,642 ,iu. uU 8 10 0 0 . „ ... «. „ ;S2,ooq.i . .£6.261.; .4 .125 ' 210 o a o c. 5 2 n VtcIlington.'Meat.Export;;1, 12* 916 0 " " ~ - ••105,768" :..-ah6; i'J '."r ;® ■ .Wanganur- ' Z ' *j r ' '87 • 33 .0 TRANSPORT, " _ i'"" f; "13MSM 'X A ■') 2 86 2 8 0 ' • Union bieam t " im 1 > 8 nil , 5 6 5 0 6 10 0 Wetn; bteam Ferry m • ■***' * 4r ji r .1 .1 nil '"95 135 6 115 3 5 8 0 , . ' . • 15 1 nil ' 6 017 6 goal;' /; ; 1 ; : 'v; ;r ,l . " . ; .*■ - _ . .seoxoA"- : .;;iE7',i3i" -35--""ij" 125"'6 3 0 6 8 6 , iaupm ... -. t5-lAW i.wj 1 "nil . 7 | ; 019 0 : WOOLLEN. K-j : } I Kaiapoi. .„ : w. . ; , 127.765 S5.CC4 5 nil • 7 • • . Uospei ...... „•■ ... \ t3.157 17,M , 3 » . n 14 Wellington. ... ... 14,665 Uhx05 j I 1 6 3 7 0 310 0 • 8 T 6 7 2 3 . MISCELLANEOUS. — . ponaghy Eope „ . : „ '■•'alEOO " Itt • ■ % II 3 6 0 B O 613 i ,v .Leylana.and OBnen ■„. am. -37,vw- 1; Su 15 24 6 iiauricevil 0 Luno ... „. .7,000 .. . S05 • 1 ml 8 • ■'■•: NA.tondlo..,--;. .10,000 'Vi76-'4o ''nil' -e -Sf'"p?rS"MnT;''' •" - ■ a0 ' 000 sf, ' i0 - .3 -Jntt-' -1 2 10 6 811 6 '211 0 6 3 0 M'.f &L™ 113 " «•"« > -im Vl . -nu ,i 1 4 9 1 3 3 lU , N.A Cement _... • ... £0.C00 51,048 1 , nil ... 1 5 0 ' Manning and'Co. „ «6,OA) 17,670 .4 1 . in W a rd and. Co. ... . ... :... , 10,000 .14,543 4 . 1 . 10 4 12 6 415 0 . Wgtn. Upera flouao ... , 18,6a) ■ 3M5 0 .Q • WgUi. Fresh Pood ... , *8.z61 : '... . • 1 /nil' '' Ltd d r::illb3; :U«SS,..'!!i:/. 2j: 10 -4 1 0 4 2 6 4 2 0 6 1 3 : bnarlaud, Ltd. ... : ... . .... 0 .... h. 11,tei. .> i nii. . ... l CO c 19 t U4 o.