FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 292, 3 September 1908, Page 10

FINANCE AND COMMERCE.

WELLING TO N 'S H A R;iE"l,i' t.l ST,

The above'quotations are taken from' the daily official lists of < the Wellington Stock ' .V:'; 1 ■

,THE. SHiREIfARMt Investment , shares- were again quiet : ~yester-' day. 7 There was a 6ale of New Zealand ana River Plate at 30s. 3d. , National Bank shares were offered at £b 25., with, no declared Wellington Trust and Loan, 'seller's 75.--Ga.,;' Wellington Deposit', sellers 9s. 3d.; New Zealand and'liiver. Plate, buyers SOs* sellers 305.--6d.; -Feilding.'Gas,' buytas"-18s:" Gd: 1 ; ;\Velhßgton--Gas,;sellers' .£l3.and^ll"ss.';for;'the '-respective "issue's; Standard .insurance, sellers. osy;iCan-; terbury Frozen Meat, sellers £1 155.; Mana.watu .Kails, brtyers .£2 Bs. 6d.; New .ZealandShipping, biiyeis ; S SG Gs;, sellers-,s£6- > bl» _ lihgton-'Woollen,^sellers; i£3 -10s:, -cum .tliv. ;i Hikurangi Goal, bujers 14s: : Gd. ; Westuort-' Stockton, sellers 9s: 9d.; Leyland-O'Brien limber, buyers XI 4s. 6d.; New Zealand Paper,: Mills, sellers i£l*j&'. 3d..; Whitcombe-nand Tombls,~ buyers Sl:3s.' :; ; " , ■zzdUm ' THE MINING : Yesterday Talismans sltfnfpedt tales"- lieinig* made at £1 19s. 6d.,-/jei 19s. 3d., and l?s. Tliefe has not been any fresh development to, account for this, and.the only reason that can be assigned is. that forced sales are being made. Big River shares were?in.firm,dejmand at.tijl, 12s. Gd. The yra-. terday received: the following telegram from the New Big River Company. "Sixth dividend, 25.. Gd., absorbing JE3OCO, declared last night, payable 7th, also £'M placed making it In ..the Tanginro mine driving has been resumStV'QintF if- if? cxpecteu to cut the reef at any moment. Yesterday s quotations were as under — Buyers. Sellers. Sales, -"iv." •• -C S. d.' ■■■'£■■» (k- •: f-iJ". 8-! dr .Talisman..-) 19.i [ ,0„j J 0 Waihi i / Waiotahi.... ; - x .9...^ Tairua ; 'C6hquemr," ' 3d.'paid —" ' 0 0 3li — ' N.Z. Ciown , .... ■ 1 -,A. i, u . ~i, . ..5... Big River ; V'-:. ; 6>«-y ' - GOLD MOVEMENTS. Sir.FeUx.Schustei\,the,emment l finwcier and chairman of the Union ofl-onuon f-.nd Smiths Bank,"Limited,'-at the talf-yß'arlfgfcnei;al''mcot-ing.'of .the bank on July 22,'-referred_-tcr*the movements of gold during the first half of the year,*. and' made 6oiue interesting. cominßnts v— The production of gold during the sis months was estimated at 40 to 45 millions. _■ In this country..^wei:had,.^cp,of4ing„t(^tho,^fficjal.^§- . turnSV^iffipo#<!'d*'''*^ 3 ; 2M ! Mo ' W '' and —' es P° rted " i20,700;000, showing an excess»impor.ted of only' ••• 2}' millions. To this •mu^;.b|^dtyd , ißl,o(sp9(fc released froai the • cqr-marked < gold - belonging to the Government of India. .The.stock'of • gold'inr the Issue Department of'the''Bank of* England, however, had-^increased... from ito, >£37,5C0,000. The stock'in the' Bank;of Franco showed' an increase of-no less than 18J millions; that in the Imperial.Bank of. Germany of' 12' millions; t]io, .United, . Treasury , of--: il2,oooiop(iif . reserves of the' Now iotKl/tssocifitcd "Banks, of 2G Against- these''increases "they" had' to • place■ de- j creases in' the Bank of Russia of 8J millions; . and in the Bank of Italy of 2 millions. Jj.liat they . had i to bear in mind as regards - this country, the future of the money market,: was that"for. some ..time':--past'." gold had,', been "ifl' continlioHS; demand for • the- Continent—a demand" which' did not yet appear to be satisfie'd-rahd that'tlie'^WcKftCgftJiJ.^tte Issud' , Dapartmentwasr , ali'4lhe '>endwofi'.'Jun6'.2i millions' loss/than "it was in tho middle of March, when the reserve-in the Banking-De-partment stood ati upwards of 31 millions, as compared with 27 millions, on July 1. As the Exchanges lire®, still.-.•}:/ivcrsp^.tupst there to'te any" probability of any rapid incr&iso tliii'in;:' tl'.e next' few months, but rather of a dimiiuiiign when the autumn demands made themselves felt. And it had to be reineinbei-L>il, that.-out of ilhe.Jarge shipments, frohv the' United States to. Europe, amounting to nearly 10 millions; i' 5,700,000 went to France, .£3,900,000 to'Germhny, aud only X 300.000 came to this country. The/fact thbt wo ..liad'. ouce mora, beconio the cheapest money market in Europo. diverted gold to other centres! . "The reduction in-the volume of'tra'do which'appeared in the Board of Trade figures had not been unexpected. The activity, of last year was quite abnormal-, and thcxrisisnn-the United /States following' 011, rapid • expansion made .itself'. lit once severely' felt, through.; th(> ' diminution of purchasing power in that country.; trades the exports td'the Ujiiteil States abruptly ceascd. . Nor was the effect apparent only in, (he United..Kingdom. :* India felt it severely, and,, that, at; a .time when, lv in consequence ot famine,ythe conditions of trade in that •countr] ; "'ivei , b;'. far ..'from favourable. Industry in Germany, suffered a severe setback, and, indcod, the whole of Europe was affected. The trade depression in the United States themselves, and possibly also in Germany, appeared'to be'.far greater than in: our own-country." ■ .LIVE STOCK SALES; . .(Br 'TELIiOIJAnr—PHESS association.) " Christchurch, September' 2. At Addington live stock'market-there were fair entries of stock; and a good attendance. There was an improved demand for store hoggets and' wethers. Eat lambs sold, at-late rates, and the fat sheep were easier.,,. Eat cattle were without change; and -pigs,"except baconers, which were .rather, easier, sold at the previous week's prices. Store and dairy cattlc were dull of sale.'- There was a smaller yarding of store ' sheep,,than, last week,,, the Jiulli being'lionets. Tliere. was a better entry ol wethers, but. the ewes' were , mostly';m'edillni 1 sorts. The demand for hoggets was better, especially for ewo hojgets, and forward wethers were wanted for the balance of the tumir crop. Forward wethers made 15s.'to IGs. 2d. others,, to 14s. Odi; ewe hoggets, 14s. to 16s. mixed sexes,'good, 12s. to 12s. 9d.; backward sorts, lis. to Us. Gd. There >was,a / .sinall,.ont'rj of fat f hoggets and lambs, and sales.were.mad< at the previous week's rates. Bogged soldi ai 12s. Gd. to 178., and vcung to, 20s, Jd

The'/y&rding of'fat sheep, was about' equal in : 'to .'.that- of last week, .The bulk was wethers,, of which a considerable ; proportion were not .well finished,, and thert;.was a number of lines of merinos. . There'was 4 less com.petitiontfronv 'export buyers, and ' prices all"round ' "showed'* n' reduction, on last' week's. Prime wethers made 19s. 6d. to, 235. 9d.; extra, t0.255.,1d.; medium, 17s. to 195.; lighter, 14s. Id. ,t0'16?;..Gd,;; 17s. .to 18$, ,Gd..; medium, -14's.xGd.. to l'G.s/.'Gd:; aged and-light, 10s. Gd. to lis.';" prime merino wethers, 14s. .to 16s. 9d.j •lijliter, lis. to 13s. lid. The supply of beef ' totalled 27G, quality was mixed, many ,qf i the'. lo.ts'.'nqt."..being well finished. The de•mand was father slack, and the sale somewhat dragging'.' The'ra'pge of. prices was: Steers, £5 ;175.,- 6d. to Jill 12s. Gd., one passed at ,£l4 ' heifprs,'„ .£5 to JE9 17s. Gd.; cows, : t jiTif'fertra, to £11 10s.-, equal ■to"". *"jto;29s.;' for prime, 21s. Gd. to ' 'i>3s.""Gd.' fof'mediuin, and 18s. to 21s. for cow - and inferior, per 1001b. There was a medium ' yinfding 'of veal -calves, which made 4s. Gd. to , 505.,- aQcordijig .to size and quality. A small ' "mixed yarding of store cattle were dull of sale, 2-year steers making £3 19s. Gd.; 2-year heifers, £2 ss. to £3 35.; for steers, £5; dry cows, 15s. r vto-rfiWs, dairy,cows were mostly inferior 'soi't^"siid,"iold. ajf ,g2 10s. to £7. There was an iiverage yarding of pigs, choppers and baconers being, rather easier, porkers and stores selling . at last Week's rates. Stores were in keen .de-' mand,. especially t'wnaners, on account 'of the oponing of the"d<ufy soason. Choppers sold up to JS4 17s. Gd.; baconers, 51s. Gd. to 71s. (equal to ijd. to 6d. per lb.); porkers. 335. to 48s. (equal to sd. per lb.); large stores, 325, to 365.; medium, L'2s. to 2Ss.; and weancrs, 16s. to 21s, ' GRAXN. . ' • iw' TELKS.f.AJ'II— I'RF.SS ASSOCIATION.) Dunedin, September 2. There-is no-'change to report in the grain market,r.ahd'littla,,business is passing. ' In oats ihqrft has been better demand for seed lines during the week, but absolutely no inquiry for export. Prime milling, 2s. Id.;.good to best fee3,"®"'lld J , 5 "t6' L 2s.; inferior to medium, Is. 9d." to' There has been very little wheat offering "during the. wefek, and millers ire lioj buyers except in very few instances, > and^tfien'they-will take only prime samples, all second'grade-being offered as fowl wheat, ■ for which they is fair, inquiry. Prime milling, i 4s. 2d.' to 457 Sid.; medium, 4s. Id. to 4s. ljd.; i fowl wheat, 4s. to.4s. Id.; broken;and damaged,

COMPA.NY. , iv & tn^'iEMQßArn—rßEsa association.) J ■■' Wanganuj, September 2. eigMeehtii annual meeting of the Wanganui Freezing, Company was held to-day. The balance-sheet showed a credit of .£5413, "an'd ii'"dividend! of six per cent, was declared. Thtf'chairman,' in; moving the adoption of the Tdporty Tefened-. to the drop in prices of wool, .ancLsaidnthat/Neiv Zealand s income-from that ,'prpdupj: I „Tvas, ( only half as much as last year. T-fie company has decided to increase tho capacity of the works, and a contract has been •let for- an addition to the engine room. A new machine capable of freezing 2000 sheep per day has been ordered, and will be ready for the.coming jeason. MEAT.. .! ~' w (l!f CORRESPONDENT.), Auckland, September 2. Advices just received by tho secretary of the Auckland Farmers' Freezing Company show that a line of frozen lamb sent from Auckland brought from 5Jd- to s|d. per lb., and a quantity of Auckland .beef sold at 4d. and 3Jd. respectively'for hind' and forequarters. ; | ' A. GUINNESS, LIMITED. (nI'TELEOftAPH—riIBSS ASSOCIATION—COMBtaHT.) . (Rec.. September 2,' 3.1J p.m.) London, September 1. Tho firm of Arthur Guinness, Limited, has given its shareholders a bonus of 100 per cont. out of-reserves by the allotment of 2,500,000 new sh.arcs at -wEV..each. " MINING NEWS. . j THAMES DEEP LEVELS. ! (UT TELEGUAJ'y-—STECIAL CORRESPONDENT.) i , v . Auckland, September 2. ! The deeplevels. question was advanced a fur- ■ ther step yesterday when, at. a meeting of tho i Thames, Deep Levels Committee, the following 1 resolutions, were, .carried(l) That the sehemo • outlined, by .the. mino managers subject to such modifications as may be agreed upon, be adopted. (Tho scheme in question provides ,fot a crosscut being projected from the • Queen orßeauty shaft northward at the 1000 ft. level-for a distanco of about 400 ft., or about as far as the Kuranui ground.) (2) That the companies benefited contribute equally to the > -cost of the.schenie. (3) That upon tho low level . development becoming available, each company - using the same shall pay annually to.'a common > fund ten per cent, of tho profits on all gold t won below 000 ft. from the surface for a t period of.> ten -years, provided, howover, that » iio company shall pay more than .010,000; such j fund to be equally divided amongst the com- - panies contributing to tho deep levels scheme. ; (4) Tlirit -there r ,be a deep levels, committee 1 ref presenting tlie various contributing companies, i. \Vliich "shall consist of the chairman or other . representative -of each of Such companies, the a committee to be charged with the duties of a carrying out the scheme in all respects, and •. the assessments agreed upon to bo paid to such : committee. Tho above resolutions will be subi mitted in the form of recomniendations to a Y general meeting-of the companies interested, e The committee will also have further proposals t to make, "there being still. several matters of [ ' detail to consider and data to collect.

/ ' JJ " BeMmf'vS'S'Tfth! IJs I C3- PRICES.;. Yield rnnrPANY 44 * >- Capital- Fnnd.and P-g .feW"'_ j —r —— to COMPANY. raid Up. Briiuno. . f c.iw' f 5 1 ?' I nTea '° r Forward. £ bimt g Bnycr. Seller. gala'. V SANIES, d ' £ *" £ ' 3 New Zealand ... ... ... ... 5,000,000 mm .1 81 10 8 17 6 2 J n National. ... ... ... ... - 575,000 b61,3W- -g •»' 12 0 '■ . INSURANCE.,: . ... -J National 1 " -JZ. ri . joacoo" ,-i; .nnltdj .15 ® 3 ,3 'rt 1 .', T ° 691 New Zealand ... ... ... ... lown) .. i!«,674 J b,, ,10; ,3??. 6 " 215 ( s 9 1 bouth.:lirlusn.'• iW1My tut/aa 1 4i so . ? 3 J 4 - : bUndaru .... 1- st.goo,J. ,:,9i .10. f;;? 6 . "• . financial.,,.,: ,>!• \ . . Equitabio Building''■ c'oooo" '18,242' ' i 1 '"4 '"jo n "'" • j • Metropolitan - ttuiuliag -sa.ao.. • i>.toS • iS • • nil--'I - ... ..'fi'ii * 1 Wellington Invest ~ tftOOO' 6.1:60 "i ' 6 6 011 ft \.031-.6 S Wellington Trust and Loan .. <wS> «'•> « Z , S ''■ \ • national Mortgage"-." - ' ••• .100,1100' lM.'iW X - 8 " 10 8,0 ® ».J J « k <s 9 *.&. and ttivwrnts too,000 awM) I nil 8 1 J ? ° 110 b j, 1 , , Uiuii butt aiercauuio M »-S ®»*, ® , ' CAS. ..VJ' f. £2.3*; H-lAv ! • Auckland ...■ ... - 1H),370 E6.4S3V i ig •iifl'' .17 1510 0 15 9 D 510 0 cnristcnurch ... ; ... ... - 160,000 , ;«I,WT c nil ,10 . lending • ... ... ... lilojdV 4 1°- 018 3 0 18 6 0 18 6 feuoorue • ... 17,SIX) 10,665 nil 133 21i 6 2W 0 610 0 iiawera ... who bs<i . .5 } 10 ■ ' ♦»««r 1'iymouth ... •••, le.ttIO Mil 6 * ..nil . 10 . .. Napier ... -< -■-» M - 'nil' 55 .■>> -. . | <9,957. v E3J.84 5 " "O ' 15 * l-'almerston North, ... ... ... £7,000"-""lW)92 ■««» ™< ' ® 7 6 0 6 3 3 „; «. ; £ .~ ~ 1.12W70:. 10.. » g g- lr j ■ 3 , 10 6 MEAT. ... '■ ' Cantcrbnry. . ... ... , 4 js,m- v C2JS86- -.1. n .« ' 7 15 C .. (jnrisicnurcn ... ; ... jcsVeo ,.57W4.: .K , 4 . 44 r j!: -1 ,. 10 0 0 • , • be «,t 4 ::: v r looo"; {K m ■..»« «g » 2 9 r 5 9 0 .Wellington llca£ 'liiport 1 -..«,, »: » • • .105,766-: w.050, A. 1,... ;J . it -it ■: '.'1,'.i,ii:.*" ho'Vi '*!• 1 .>|ji aJ.i - o' 31 0 firaoEMai 16J25; ,.;'buY, .'g, ' • / <•;. 4 ■ 4 " TR'A^SP'onf.' 4 : : ; " i'}.?■, '■ •• W. and'M. -ii■ ;i J..j !■» .i.j. ; '8 6 2 9 0 2 8 9 2 17 4 1\.Z. 4 .snipping v.;.,: M-U . .I. '.> 4 7a.UO'"I'liU.VnO !r ni r: :: 6 •• 6:i6 0 .6 10 0 . v . . union oteaui' ... ..... ... ... Uo.UjO .tM,Ui 4 ( i .„,nil i0i < 1 15 3 116 3 5 8 V \YKUi..bteaniI'erry;... ;i ' [ t u.. 017 6 ... . L'OAL. 4 . Wcstport ... ' ■: ... ™ ' £60,000 1271431 - ' IV jol'iV'3 .0 f t 0' • . _ 'laupirr ... j-,.... mj,uuo.4 (i.'.t.lOU ... i nil , 1/-7J ■ • 010 6 0 18 8 8 1 6 V/00UEH.' '. . . ' Kaiapoi .» ... ... .„ ... 127.765 . 55.CC4 .5 nil "7 .*»• 'ItOSgMl .. .. ... 63,457 ...i'l,^. 4 4 'ijj 4 ij i ■ ' 4 . . . taellington ... ... ' «.'» «• '.4,ii65 4 i m.-uo i 1 ,\c 3:7 0 310. 0 3 7 .6 7 2 3 " MISCELLANEOUS. ." ' . ' Donaghy Kope ... ... :3,500 ,1E1 1 nil, 6 1 3 .6 2 -5 0 613.4 Lcylaua ana O'Brien ... ... ''ibfXXit - 2 4 8. • Hauriceville Lime' .„ .... ... '7,000 ,*05. .1 . ml 8 i "CandU ... ... 10.00U .176 iu - n il b ' ■/ N.i6. Drugs' r ... ''iCO.Ctt) V:3C.U0:' :.:zv. 10. 6 2 11 6 211 0 6 3 0 N.Z. . taper Milla,. £W,775< ■ i-< r.uUf» r?7- 1--2 0 1 3 3 Xemcat ... ... .a-.W£«0*• - •• • 1 /••bU'. 0 Manning\and Oo. ... ... ... ' "16,(WJ 'l'iJt7U** "'I *'• 'IO Ward and-Oo. ... ... ' LO.OOO UM4, N 4 1 •. 30 l-i* 6 • 415. .0 . Wgtn. Opera House ... 38,630 • 5 ' -nil''l*i4 1 '5 0 •' 'Wgtn. Fresn Food r ... r*. ,; .uir.' , n Wnitcombi? aud T:nib9. .. >.UC,153.. I10 v,i 5 0 k.4 3 0 6 1 3 • bharlaiid. Ltd. ... . .... . ... . lt,013- : 11,724 l- ...nil lb .• 1 0. 0 C10 6 514 0