FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 287, 28 August 1908, Page 10

FINANCE AND COMMERCE.

THE SHAEEMAEKET. , There was extreme dullness in tlio share : market yesterday, no sales were reported, and there were very few quotations. There were sellers of Bank of New Zealand .shares- at' Is. fid., and National Banks at -C 5 Is. 9d.; Wellington Trust arid Loan, sellers £7 7s. 6d.; National Mortgage, buyers .<£3,. sellers ,£3 Is. Gd.; New. Zealand: .. and -River. .. .Plate, : buyers, £1 ( 10s„ sellers . .£l-' 10s. Gd.-j New Zealand Insurance, sellers, £3 13s. Gd.; Wellington Gas, sellers .£l9 and £011 Ss.' for'.-the" respective .-issues i. Gear.: .Meat 205., paid,'"sellers.:iC2,los.,; Meat-.Export," third issue, sellers'-.£3 • 25. : ; "Manawatu Bails; , buyers £2 Bs.'Gd.,'sellers £2, 95.; Wellington Woollen, sellers ,£3 10s.; Westport-Stockton, sellers, 9s. 9d.; Kauri ijimber, ,15s. paid,.buyers 355.; • Leyland-O'BjienirTiinber, buyers J.£2w4s.'; Gd.'; New' Zealand Paper Mills,, sellers il; 3s; Sd.; Sharland's ordinary, sellers .£1; Taranaki Petroleum, buyers 2s. Gd., sellers, Is. 9d? '//;"

THE I®IKG MARKET. ' - Yesterday thera_jrare . two,.:sales :of '.WaiM. shares at £9 3s. "Gd. There was no business done in Talismans for the first " time "'for.' several weeks. The shares were-depressed-with buyers at iOs. The quotations were as undor Buyers. Sellers! . Sales. J2 s. d. £ s. d. ,sS 'S. d. ; Yaihi .—... 930 940 9 3 6 'alisman ............ 2 0 "0 r "~ii" 0" 9 "— -Vaiotahi 0 3 1 0 3 3 — 'airua Broken Hills 0 2 9 0 3 0 — 'lay Queen, .t-0- l; 2 2 ..0i2,-5 ■i.'l. Crown '. p'. !i (j. .. 6,. i 'i. " . iuranui- . ' "'' : Caledonian ! 0. 0 9. ' 0 011 ' — : Komata Eeefs • .;./>*i- I'""'0'1 3" Big River 110 '0 - V -I'ls >0-'' Blackwater 1 3 6 1 5 0 ~ — THE BUTTER "MAE'KET,'' . Messrs.- Dalgety and Co.'s Dairy Produce Circular, dated London, ii; o!uly. ,9;estates; that-, the arrivals of Australasian butter/have been extremely, moderato,' consisting of 'I4,soo" ; boxcs. Australian and .'8873 boxes New Zealand, "as' against 24,127 boxes and 28,103 boxes respectively during the corresponding period --lastyear. The arrivals from all quarters were 35,357 cwts. ; more in Juno than during the same month last.year,.-.but;against.- this..-fia,ve-to be set the sh6rta'ges- , 6f ';52,'2't4 " in ' April" and 88,088 cwts.:- itf; ; Mayiti-With thisVdeoliniE in imports and-thesconsiderable by ttie policy w.of-tho large shopkeepers,' who continue ;'to' r.etaiL ,butter.- : -at-,..p0pu4 lar prices, supplies have been readily absorbed duringthe month, 'at-. steadily< advancing prices,;- until, to-day "the top prico _ for Australian salted is 110s., . and' for -Now Zealandll4s.-;i extraordinary price's : for tho summer;;months'. -'All -/iiow' depends upon the weathbr;;-'.<,'With'-good'.'growing wea-, tlier daring' "of two ,and - tho Home and .fprb'ductibn'maintained at its present' level wo 6houJd not bo surprised at soineSbreak in pricesi during July-August, whilovon;,the .other,.hand a few,! week's drought l.wpuld'; probably result in - a'! considerable advqjice:-/>.;Anyhpw, we' continue' to look for a high .range of':values when' the new season's shipments, ' will begin- to arrive, and recommend-factories ;to'- keep weH in' F :yiew 0 the good, prospects'j'likejy tt'oj': be!'rrealisod" 'by'' consignments to this 'marko't, " while it is hard to find a reason to anticipate any..serious..decline. We have just Tieard that Danish has beon advanced 'three kroner at Copenhagen, ' but here the marketris this description;''while French and" Irish-are rather easier on : ,the weak." 'Sibdrian ' coming forward in,..largo, quantities and' the quality is' very "good.' * ' . From the above, nit mil that'the lmjiorts in June increased...by...3s,3sfcwt.n,and tlio weekly statistics since"'cabled by Messrs. Dalgety and Co., Ltd., compare as under-.— ; 1908. 1907, Increase. Cwt. Cwt. Cwt. July i ... 93,000 84,000 9,000 July 11 ... 95,000 : 83,000.7;.12.000 r, i. . July 18 ...- 98,f100 . 89,000 9,000 July 25 „ 100,000 99,000 1 000 Aug. 1 ... — _ ' ■ --ii.. Aug. 8 ... 92,000 79,000 13,000 Aug. 15 ... 85,000 79,000 , J-. 6,000 - _ In the past seven weeks there has been an moreaso of 52,000 cwt—probablv more, fo* wo have not the figures for the week ending August 1. As there'was a pronounced shrinkage in April and May, with a phenomenal increase since, it is safe to, conclude, that .the .autumn make of butter is-'-oif' a large scale. The .'increase')has^had'<"the effect of loweringvalues, vand jif. the "ouput "is maintained for Vai'|:week''' l oif'i" two .longer Ja* . considerable quantityv'will"''g'o""' into >c6l'd' ; store/ and come into competition', butters. Messrs.- " We'ddel.i and '-Co. ; ► indicatethat, values will • be:;,"lower". this^'seas6hi ; '-and it is just possible that those closely interested in the trade may be obliged to modify their optimistic views.

Yesterday tho Customs revenue collected at Wellington amounted to *69506 6s. Id. STOCK EXCHANGE/ tBZ TECiEGBAm —I'IIESS ASSOCIATION.) ' ''. Dunedin, August 27. Stock Exchange Sales: New Zealand ? Crown Minos, 4s. ld.j Hartley and Eiley (2 parcels), jM; New Zealand Paper Mills, .£1 2s. 9cL; Milburn Limo (M paid), £1 !)s. 6d. LTV? STpCp: SALE, Messrs. Dalgety, and Compan/,. Limited, ro-. port having-neid a' sucfcfessfnl clearing sale on Wednesday. on'accou.ntiof.lL A. Campion, at Ohau. There ■ wits a good attondance of buyers, and cows w«TI forward met with good competition, backwash sortsy ■ howover. being in poor demand. The'wfcotohnTd of upwards of CO cows was sold under - tha Wnmti-. .. The following are some of the prices realised:— Cqu.il close to calyiejL from 10*, tq

■2s; vGd.-;-.backward-sorts, ,np to £3} heifers, 'Sis." to" i£2"'los.V' bulls,"'£i'; mixed sheep, Bs. 3d.; sows to. pig, .£i 75.; sows with litters, £i 17s. Gd. to £5 12s. Gd.; draught maro, .4ps(..,buggy,. and, gelding, .. ,♦ Messrs. Dalgety and Company, Ltd., held their sfortrii'ghtly sale at the . Upper Hutt yards on Thursday,'iwhen a full entry of cattle was 'submitted'. to'a . good "attendance of buyers. Tliere"was ; 'a -fair-inquiry' for all classes, and most lines . were , cleared. Excepting'for dairy stock .for Varly''profit, : prices were,about the ,samo.as-"at •■■last i-sale: <~'<Fat cows, sold from 'i6S*'sd.'.'.tb Mi : tor.tfard< cows, £3 10s.; .'cows just calved;--to- t£G; 55.,-'' Springing cows,'.£3 15s.' to £5 25.; springing heifers, «£3 to ££;' heifers in calf, J2l llsl to''JE3; empty hoifers, J1 14s. to ■y>l 17s/6d;';>ismall-lfcmonth steers, £1 7s. Gd.j .2-yeaf'-llull,': J!2i 10s. -,'.-.v

Messrs.-Dalgety and, Co., Ltd., report as folilbws. ph' r thei.r iEalmerstpn sale yesterdayWo had,a fair yarding,oi' both sheep and cattle, practically' the' whole ?of'which was quitted at satisfactory prices to vendors. Wether hoggets TfiaH'e' Bs. 2d-.7~5~.-~6cl-.y-TS?.- 7d.; fat ewes, lis. 7d., 125.-,2 d,, J23...11d., 13s. 2d.; fat .wethers, 13s. 7d|,-i?l4g^'M;).yyearling steers, 345. ,to £3 3 a.; yearling Keifers,small,' 19s. ; empty, heifors, 38^.;; backyard .springing cows, .£3 2s. Gd.; fat and "'forward cows,'''®3 95.; fat cows, £i 105.,' ,£i •-,lss.;, ; fat^bullocks > . ,£B. v The New Zealand Loan and Mercantile Agency Co., Ltd., Palmerston North, report:— At Palmerston oil Thursday wo had a small yarding of cattle. There was a good attendance, of .buyers, and all lines were quitted at ■ prices •'Vn'-'favour-..0f-i.vendors. Cattle.—Weavers,-" lis.; yearlings,vl9s. to 255.; yearling. Bteersj;«B2s. 6d,.vto 355.; yearling bulls, «£2,ss.'j .storp„.(;ows, 20s. to 255.; forward cows, £2 2s. to/j£2 Bs. Gd.; heifers, M to £5; springing cows, '2s. . Gd. , ,13k/:' SHEEP SKINS. The'.New Zealand Loan and Mercantile l Agency Company, Ltd;,- have received-the'fol-lowing (..cablegram from their London house under..; yesterday's date"'Sheep Skins—We doqb-for firm market September ■ sales." THE METAL MARKETS. "(Bi'TEIEGBAfif—ritESS'ASSOCIATION—COPIiIIGET.) London, August 26. i,;...Cppper,—On -spot,.„i£6o-;.|.tliree -months, £61, - '' , ''Tin.'^Onvspot,"i£l3o'l7s:'6d. j three months, .iOSI -- : - '.'SALES. , - 132. • "■-??• August 26. ' I ,At^ the taliow. auctions 1350 casks were offered and"42s"sbld." : ""Prices' 'were' unchanged. •j .J,',! HIDES. MARKET. August 27;; 8.55 p.m.) ', , 'I".".Melbourne, August 27. In "the' hidos 'market;''there was excellent competitißnj''a'iid "the-'catalogue was, cleared in sellers',, favour- ~ : . t , " }i ''"''".'FEOZEN MEAT MARKET. r TELEGIiAPH-rr-i*EESS ASSOCIATION.) Napier, August 27, ' :'.The" Colonial .'Corisignmerit ■ and Distributing a, better«'demand' for frozen beef, and prices advanced. 'To-day's quotations: Napier, Wellington, and North Island Tiiutton, 3Jd.j lamb, first quality s{d., sccond sjjd, - Beaf^rHind^-43d.; fores, ,3id. MINING „NEWS. •

. The- following' items .are taken from our northern ..exchanges . ,Tairua, "crosscut in the Tairua Conqueror mine is now in 91ft. During the week a! bar of andosite, some 10ft. in width, was passed-"tHrough, but the'crosscut is now again penetrating 'excellent sandstone, siipjlar tethatXwhi'ch'lVcjiC'ases the No.' 1 'reef on the surface. - . '

Alburnia.—Tho main' rise in tho Sons of Freedom reef-'in the-Alburnia mine is being continued, bu';th6 v 'quartz" was broken during tho week, as, in-'consequenco of the reef having straightened"*^)":''vertically at this point it has been 'found"necessary to carry up tho rise in the footwall country clear of tho reef. It is expected that tho reM,will turn over to tho usual undorlio higher "up, and "will bo mot .'ilittt.'.again in tho rise.

Ivuranui.—ln' the Kuranui mino tho leader :WM- t!iken down on-Friday last in No. 2 stopo picked stono was secured, but gold ya| in panning off. The manager .states--that the leader ''looks well, and is a 'finer/body of: ore, about' '4jin. wide, whilo it 'seems to improve as the stope advances hillwards. Tho ore is all bciDg saved. Motrin's leader altered its course, but has been picked up again. Tho drivo on the Just-in-Timo leader is in good, but hard, country. It maintains its size, and will be broken down this week. A trial parcel is boing got out from a now leader on'tho surface GGft. from tho Shotover shaft Good prospects are' obtained in the dish. .

Old Hauraki.—Tho reef in tho leading stopo at tho 300 ft.; level of ,tho Old Hauraki mino averages 6in. of put* and quartz. Tho manager reports that gold is seen in the stono occasionally. Strong dabs of gold has been seen in tho second etope. The reef and country ore favourable for gold in tho utopes on tho west branch leader. No. 8 reef in tho drivo north .is etill disturbed fit the junction with tho west branch. At the. 160 ft. level tho country in tho west drivo on the fault is first-' class, and tho'manager hopes that something good will be met with hero. In (he 9th stopo tho reef that has been known as Legco's looks moro favourabln than in the last two" stopes. At : the ,100 ft.' level work in the slopes is. .the ventilation is jaeinfi jmgrdy.qd,

Tairua Extended.—Tint Tairua Extended winze is down 17ft. Tho manager reports that tho reof hero has widened considerably, and is now nearly 3ft. wide, with a nico silica scam on tho hanging-wall from -lin. to Gin. wide. This gives an excellent tail of gold in tho dish. South ICapanga.—Tho manager of tho South ICapnnga- mino reports that tho reef now being driven on was very, largo last week. As thero was no improvement noticeable in the footwall quartz, which is carrying some goodlookinrr seams of quartz, 0110 in particular, 2in. in width, boing especially favourable, and in which gold should make at any time. Royal Oak.—The manager of tho Royal Oak mino states that in stoping out the block between Nos. 1 and 2 levels colours and dabs of gold are seen in the stone occasionally. Ho has discovered a small leader in tho lower levol, which may turn out to bo tho same being worked on at present. Gold was seen in tho stone at last breaking down.

Thames.—The manager of tho Thames mino reports that ho is now driving on. the liuo of reof north-east, to prove the value of tho oro, and attain a point where a junction with the Liverpool Boys' reef is said to take place. •The drivo is in suporior country, and tlio reef averages 6in., and is - compose dof kindlylooking quartz, highly mineralised. Some of it is of a sooty naturo, and it is difficult to seo gold in it. Tairua Broken Hill. —In the main low level crosscut of the Tairua Broken Hills mine a hard, reef formation 2ft. wide was passed through last week, but no gold was seen. In tho south drive tho new reef has opened' out somewhat, and the manager reports that the oro carries a fair prospect of gold, but is not quite payable. No. 1 reef in tho north drivo is looking well, but tho ore is still very poor. In tlio south drive this reef is looking well, and. the ore is payable. Crushing has not yet been commenced Golden Pah.—Operations • wore resumed at the Golden Pah mine on August 17, The drive on the Pah reef is in good country, and the lode is well defined, giving improved prospects. , The country encasing Davies' leader is not so favourable, and very little gold has been seen in the, ore broken., At the 100 ft. level stoping is proceeding on No. 1 lead, which, the manager states, looks most encouraging, showing a little coarse gold at each breaking, down. . A rise ,on No. 2 lead is in good' country, and some' of tho oro broken shows gold. Prospecting is now in progress. Waitangi—The drive along tho hangingwall of the reef between the two crosscuts in the western section in the IVaitangi mino has been in progress during tho week, and tho connection has now been made, which has improved the ventilation in theso workings, and this will provide movo room for the storage of ore. No quartz has been broken down during the week, and there is now from 15ft. to 20ft. of the reef stripped, which will be broken down during next week. The only other work in progress at present is:that of extending the crosscut at No. 2 level , for the purpose of intersecting the reef in-the western end over the point where operations are being carried i, on in the low level. • . This is a work of importance, as the reef has not been previously worked in. this section of the mine, which is quite untried country.

May_ Queen.—The hard bar of rock, which has existed for some time past in the northern crosscut from the No. 9 level of the -Queen Of Beauty shaft in the May Queen mine lias, now beon passed through, and the face of the crosscut is at present in a favourable class of sandstone country. This crosscut has been driven a total distance of .406 ft., and tlio first branch of the No. 4 lodo may be cut at any time. The winze from the No. G level of the May Queen shaft to connect with this crosscut is being continued, tho lode being down about 46ft;, and the quartz broken still looks well. Driving and stoping on tho footwall branch leader above No. G level is.being proceeded with, and ore is being produced of good quality. In tho southern dTivo from tho No. 9 level of the Queen of Beautv shaft, which is being continued under the ofd Pinko shaft, the quartz coming to hand is looking promising, and carries a good class of mineral,but no gold has yet been seon. J

WELLINGTON SHARE , LIST. Bcsoryoa'S| Tt „' w ,gf . TEICES. Yiolrt COMPACT / Capital ' Furirl 'and ... " — to tUiUAax, .... .paidUp. Balance, Last Invostof. Forward. J, & stottre ' Hiiypr. Sollpr. Salo> BANKS. g £ g, £ b. fl. £ B. d. £ B 3 Kew Zealand _ u. - 2 ,000,000 £04,071 n< 3J jo .8X7 0 0 16 National ... .... ... «. - 975.000 £01.363 s| : 15-i.;-12; r • 6 1 ?, INSURANCE, ational ... ... ... icii ryn 0 49339 a «n'lfri t; 17 H 180 176591 i\ew Zealand .;.v ... |™{g U66M • • & 'lfr"3'13/ 6 <813 6 .bouth British .... ... jco]uX) 432!24U ! 1 4J £0 ' 2 15 6 2 15 0 6 9 1 btandard - ... ... HSjOOO UW*B f .: 9i io 18 6 13 8 FINANCIAL, • ; *'■ ' V : : . Equitable Building ... ... mom 48,243 ; -- r, 'in. ' '• ' Metropolitan BqUding .... . ..... a'oco yas J nil 7 • ' , , , Wellington Invest.':... ... ... roooo 6,fc50 • i 4 c • 012 0 011 0 5 4 1 Wellington Trust and Loan ... joi'iso U#U c 8 a • 7 •? 6 Is ational Mortgage .;. ... ™'ooo 1SJ.J48 a .$:i- lin -3 0 .0 -.3 '1 6 H.Z. and filter tlato ... »: sCO.OOO S6MS8B ?' nil s 1 10 0 110 6 1 10 6 5 5 0 J-oaa and Hercanuia ••• 135,as) .-109093,. , j- <„8 •' 0 4 0 1310 0 . CAS, Auckland w ».'< : 1E0,370 ■' . £5,163 !, B n117 15,10 0 IS 0 0' 510 0 Ctmstcliurch ... — 160,000 ,.,63,W7 : .-5 '®U- in'' 816 0 „ ... 12,OGO . 03d nii-i —■ 018 3 ..018 9 Uisborne . JMOO' 10*65,- 'Jf :13s - ' 3J9' » 910 0 610 0 uawera .- ■,. 8,250 esu' -a 1 10 ■ ew,Plymouth ' 18,000' SM k ill jg •••<• Kapler _. „ ... ... .... ) l5 ; - : nU 15 1 m. - .... -v, | 13,057 £3481. c 5.' IS' ■ l-almeraton North 27,000 11,092 41 ™ H o - 7 6 0 6 3 3 .Wellington ■ .. 51,703. 10 -..aft. ,io-.'S.'£ 9 „ , , il0 B " •• » , m m *. J ' 5 ' 5' 10' ' 0 U * 3 slUO . WHAT, - -V.:y - ■ Lu/ v CUrUtettttSh .ilSMwt;' .«»- 71 Si 6 '' .7'- .'If6; 0 Gear /'% p 165,(20: .57.M3 fo ' nil % • ' i0 0-! 0 ' „ ~. 1 -4,' ..o". hifeow...'•'KWO 1 011 181 . S 32'.S 1 0 0 6 2 0 .Wellington Meat Export ..." w < ' ®, '1^ ' ::: ::: w} 1 " 5 - 766 i7 - 9S0 t , i » .BangaW » » ' mists '■ }S£0S: ! n bu I : : ; ? 8 '"- . TRANSPORT, . , v - " •: wwi' I ' .7 . afs 6 'a'o o ' • hmpprng ...-, ... ,.- 473,b40; < liuVioO' '«f • ■ i 0 -B10 0 wX! KFSrrv -'I- "-nil" ' 94 .:.••« -ft <Wl 15." 6 115 3 5 8 0 Wgtn. Bteam ±erry .w vvnUi' 6^^. 017 6 COAL, •' .; .' ;• ••.. we'stport .... ... w w ... mm ■■'■isalm % -''^"125' 6' a '0 <rt< s 'taupiri ... tMW t.WJO { nil 7j 018,6 , wooden, , rio 6846 toiapol ... W ;;w ... .127.765 S5.C64 6 -f WoBgiel w ... 63.457' 17,213 .. gi' ' ,. l4 a WellUlEton ... ... u,655 Ifr. 8. 0 <«40-. 0 3 T 6 7 2 3 MISCELLANEOUS. ' "" ''' * .• ■ Donaghy Hope .»,. -v £3,500, ih"'l r'c 0 '- : .'-'"r'i-6 '2 5 0 613 4, Leylana and O'Brien'..V r>.j5#00* ; St,W'j. " iflf*"ft v 2"'f ''(T" 1 iianriceville lama ' . .7,000''' -'.£05. .1: ..': : n |i'i. „j. j! ■ N.Z. Dandle _ ■ .*•. 10.00U US 10 nil 6 N.z. Drugs ; ... _ ... £00,000 8E.7S0 2 n U 7 .210 6, , 2JL1, 6 C u 0 6 3 0 Mllu •'*. m• 94,775 1,583 1 ,1 V iiil. . 7 ...1..2..9 1,3.3 N.£. Cement ... , _ „ .. OO.COO . : 2,048r • 1 - nU '"... -'r'5 -J 0 ilanning and Cb:*i;' >W • : ,'16,OOOi "*-'tT,670 : M ""!! B 'lo Ward and Co. .J ttf,«*)''• : W.543,.4 V...li» jo 0 Wgtu. Opera Bouse ,.. ■•■ ....- • ■■■ 38,030 • |':5 •■-ml • '12l ' • (•«••• WgW. Fresh' food v. ... . ... i8.a;i .... I 1 'vnill .... : ; Wuitcombo and Tcmbs ... ' ... it.viu £0,153 f 2j:,24-.'10. ; X '.l 0 '4 2 6 4 2 0 6 1 3 bharland. Ltd. tt.LU 11,724 l| nil 75 1 0 0 c 10 t. 714 0