COMMERCIAL.

Dominion, Volume 1, Issue 300, 12 September 1908, Page 8

COMMERCIAL.

THE'SHAREMARKET. : A fair business was reported in. investment sharos yesterday. There were sales of Wellington Investment rit lis. 6d„"New-Zealand and River. Plate at. .£1 10s.. 4d.,.,and .Wellington,. Woollen at .£3 Cv 9d. The buying and selling quotations -were about the • same as on. the previous day, except, that . Manawatu .Rails, were wanted at .£2-18s., with sellers at ,£2-15s. 6d. % National Banks, buyers'.6s,-sellers £5.-ls,-;"~. Bank of New Zealand, :sellers, Jiß ,175.; 6d.;, Wellington. Investment, sellers, lis. 6d.--j.-Wel;, - lington Trust and Loan, sellers, £7 .-7s.Wellington Deposit, sellers, 9s. 2d.; National Mortgage, 'buyers 'iS,' sellers; £3"'ls/ 6d.; New Zealand and River Plato,. buyers, -CI 10s. 4d.; Feilding Gas, buyers,' '195." 63;; Po'rt\Ch!almors Gas,-buyers 205.; sellers 225. 6d.; National Insurance, buyers .£1 7s. Gd., sellers jgl Bs.; -New' Zealand Insurance," sellers,' £3' Its. 3d.';., South British, sellers, - .£2 155., Gd.'; Standard'insurance, sellers, <61-'25..3d.; Gear Moat, buyers JS2 9s. i: . sellers £2 9s. 6d.; Meat' Export, third is-' sue, buyers, ,C 2 19s. 9d.; Manawatu "Rails, buyers £2 13s„ sellers £2 -15s. Gd.; New Zea- . land Shipping, buyers iG 75., ~, sellers .£6 10s;; Union Steam, buyers'.£l.. 145./; sellers .£1.155.-; Wellington Steam" Perry, sellers, 17s. ■ 6d.; Wellington Woollen," sellers,' i£3. 7s. ;. -WestportStockton, sellers, _9s. Gd.; Kauri. Timber, - 15s; paid,- sellers, 14?;' 9d.j Loylahd-O'Bricn Timber, buyers £i 55., sellers JE2 75.; Mountain Rimu Timber, buyers, .£1 2s. 9d.; New Zealand Portland Cement, buyors £1 75., sellers ,£l9s. ; Manning and Co. (brewery), sellors, J!R 17s. fid.; New Zealand Paper Mills, sellers, ill 3s. 3d.; Taranaki Petroleum, sellers, 2s. Gd.; Ward and Co. (brewery), buyers ,£4 12s. 6d„ sellers £i lGs.; Whitcombe and Tombs, buyers .£4 Bs., sellers £4 10s.; Sharland s (ordinary), sellers ill. ':.. ' - - -' THE MINING MARKET. Talismans recovered somo of their lost prestige yesterday, and sales were made at 40s. Wailiis changed hands at .£8.195. 3d., and New Zealand Crown at 3s. ■ 7d. and 3s. 10d; Tho quotations were as under:— • : Buyers. Sellers. Sales. - ..£s. d. . s. d. £s. d. Talisman 119 9 2 0 0 2 0 0 • Waihi ... ... 8 19 ft ' 9 0 0 8 19 3 Waihi Consolidated 0 1 10i 0 1 11, — Waihi, Grand Junction ... ... — 110 ' 3 —, Waiotahi ... ... ' — 0 211 —. Tairua Conqueror ;— . — 0 011 Tairua Golden ... Hill ... ... 0 8 3 0 8 9 - N.Z: Crown ... 0 3 10 0 4 0 0 "3 10 Ngatiawa ... ; — 0 0 11" — . Tairua Broken . Hills . ... ... 0 2 7 0 2 8 --• Big River ... ... 112 3 113 0 " — Blackwater ... : — 1 1' 0 ~— BANKS'S CO-OPERATIVE MEAT COM- : . . ; • PANT. Tjlie . balance-sheet of Banks's Co-operative; " Meat "Distributing 'Company, Ltd., for, the 'year' ended June 30 'last makes a poor exhibition',' and the company appears to have had'an unfortunate experience: dnring the year. Tho result of the year's operations has. landed the company in a-, loss of- <£7935 35., in additionto which the directors have found it necessary to write' off, .€3595 Bs. Bd.. for bad. and doubtful debts, making tho total deficit for the year -£11,530 lis. Bd. The paid-up capital of the. company is shown at'&BGO 35.-3d., which in-; eludes i 773 os. 7d. calls paid in advance, and' the' other liabilities include debentures .£4550, mortgage on property ,£SOOO, ■ sundry creditors 9s. 6d., bank; overdraft, lls. .9d., , interest accrued. «£133 13s. lOd. Tho assets in-clude'sundry-.debtors and bills receivable ,£3253' 10s. -lOd.', stock-in-trade at works >£549 / 15s."lid;, property and plant at Ngahauranga .£12,863 16s. 2d.,.'oflice furniture 6s. 6d., goodwill iCI2iO„ Newtown lease £60. In the profit arid Is^s' afceount" no details are . given of the'incaino from .freezing and manufacture,but; oil-the "(i'ibit side the costs of freezing and"manufacluro- are shown at i6s.' 3d.; General. .expenses,"'"including office "eipenkes 1 , salaries; directors',:: fees, law charges','-'rents,'' etc if -amounted, to v£1907 os. ; lid.,-, interest ; JI6SG' 45.~7d.; directors', boiius for . guarantee passed' at last_ Annual meeting Xl5O, bad debts written; off i£3595 Bs. Bd., depreciation on- plant i 573: Is.'.3d. ' These items make hp the total -loss, of-,£11,530 lis. Bd.- The report; says:—"jn tho face of this loss; your.directors are unable to ■ 6eeJ;how 'the 'business can be carried" on. to the advantage of .the shareholders, ' and have therefore doemsdj it advisable to place the :'company|s. property", : and works under offer 'to the' Wellington. City Corporation." ; ; MARKET, REPORT. T-he-New, Zealand.Farmers' Cp-operative Distributing' Company,, Ltd.,: report as "follows:—" Maize, 55.; wheat, fowl, 55.; barley, feed, 4s. 3d. ; barley, Capo seed, 4s. Gd. ;. maize, crushed, ss. 4d.j oats', 3s. to 3s. 3d.; oats; : duns, 2s. 10d;; oats, discoloured, 2s. Gd.; oats, crushed, 3s. -Id. ; oats, seed, duns, sparrow bills, gartons, 3s. 3d.; African' Algerians,, screened,-4s. 4d. per bushel. Ryegrass, perennial, ss. 6il. per bushel; hay,' per ton; straw, J3 ss. to £3 10s. per ton; 1 pollard, .£8 10s.; bran, £7 per ton; sucrosine, . •^i.lOs..,per .ton; linseed oilcake, genuine, 155.: per; cwt.; prime oaten sheaf chaff, £a 10s. to a5'"159.-per ton. ■ " ' . . _Seed. potatoes, specially selected Canterbury U p-to-Date=, ,£G 10s., Canterbury Derwehts i6,'-Victory .85; onions, Melbourne, " 10s." Butter, separator Is.,.milled Is., dairv'pats! Is,, "per- lb.; cggs.' frosh, Is. per . dozen.; honey ' 60 s, ..4Jd. t ; bacoii; -%ides - BJd.-;*-.r611s T DM.. : "hams' : ?}«; ; Per lb.s porkers, ,70's t0:90 , 5,'5id., 90's fo! 100 s, ,sid.; baconors;; 5d.; choppers (heavy); .3jd.; to/4a.. per lb.y beeswax, Is, Gd.; fungus, i?"* v walnuts,'4Jd. to sd. .per lb. . \ . ' '' ; • Cabbage, 2s. 6d.- to 35.; cauliflower, 3s. '• 6d. to' ss,.:per -sack; swedes,'-2s.- per'cwti;! ptimpkiiis,:' 10s. .per sack (scarcc); carrots, tablo,. 55,; car- : rots, .horse, ,3s.* per sack. ' ! Apples, dessert, 9.5. Gd. to 135.; apples'; < cookers, 9s. ' ' , '! ■ Poultry, table:' toosters ..4s. Gd: 'to ss. cockerels ss. to Gs.; table- hens, is.'fid. to ss.' 6d.; ducks,: 7s. 6d. to Bs.;,geese, 7s.- 6d„ all at'! per'pair; turkey gobblers'lid., hens 10d., live 1 weight or dead. HIDES, SKINS, ETC.,- . ; ; Messrs. ,-Dalgety and. Co.;' Ltd.', held, their: fortnightly sale of wool, skins, hides, and tal.when a large: catalogue' of all' classes, was submitted to a good attendance of' buyerS." F. o ®.'-T^l lere was. spirited competition, and prices advanced by about -Jd. per lb., crossbred lamb's'fsolling ;af from 4}d. to 51d.; crossbred ileece, Sid.; inferior, 2;d.; crossbred crutchmgs,. 2Jd. to'3ld.; inferior, 2d. to 2Jd.; cross-' bred locks and pieces, lid. to ljd. Sheepskins aavancod about {d. per.lb. : Fine crossbred realised s£d. to Gd.; crossbre.d,4d.to sid.; halfbred, 4d. to SJd.; crossbred short; 3d. to 4d.; crossbred, dead and broken, 2Jd.-to 4d.; orossbred .hoggets, sd, ; crossbred lambs, lid.'to sjd.; inferior, 3Jd. to 3J-!.; !,.Wn lambs, 31d.; lambs' dead and broken, SJd. shorn lambs, 3Jd.; 3|d.; pelts, 2}d.; inferior, id.; crossbred salted, 2s 9d. to' 3s. .lid.; crossbred damp, 2s. Sd. to; 3=. Gd. _ ■ Hides.—No-prime lots offering. Pricos were! ' on a par with last sale rates excepting calf, . which showed considerable improvement. Ox: 731b;,;5|d.; 64 to fcslb;, sd. to aid.; 53 to 551b.,: ' f-"i.; 43 to 441b.,' 4'id.; cut, 411b., 3Jd.; cow- 53 t0.561b., 4Jd. to 4;d.j' 42 to 431b., 4|di- to 4id.;' cut, 40 t0.431b., 3£d. to 3]d.; 33 to 351b.;"3Jd.: ' to 32d.; heifer: ,■ 311b., -4Jd.; cut, 30 and 311b.," 3Jd.-to, : 3id.; steer:-301b., ; 4d.; bull: 75 to SOlbJ 3d. to 3Jd:; 531b., 3Jd.; yearling: 221b., 41d.; slippy,:2oll>.,' 3]d,; calf: Gib., 6Jd. to 7d.; 41b„ 6Jd.; 121b., 4d.; cut, 101b., 4Jd.; cut, 71b;, 4Sd.; cut,"slb.; 3Jd.''-' Tallow.—ln shipping order: <£23 ss. to £2-i per ton; casks, £22 ss. to £23 ss. per ton; tins, 21s.' 6d. to 235. Gd. per cwt. " The New Zealand Loan and Mercantile Agency Company, Limited, report, as under:— There was a good attendance of buyers at ourBales yesterday, and we are pleased to report an improvement in prices. We estimate that wool appreciated from par to Jd. per lb., and sheepskins about Jd. per lb. Hides remain firm, ( bu: calfskins, sound and in good condition; ' were id. per lb. higher than last sale. We quotedWool, crutehings, medium, 3Jd. to 3}d.; crutchings, heavy and seedv, IJd. to 3d.; crossbred fleece, stragglers, 4Ja. to 5d.; crossbred lambs, 4Jd. to 5Jd. Skins, crossbred, fine, s|d. to Gd.; crossbred, coarse, 4W. to 5Jd.; crossbred, short wool, 2}d. to Sid.; crossbred, damaged, id. to 4d.; green,skins, up to 4s 2d. each. ' Hides, a*, mi'dium, up to 5Jd.; ox, light, lip to '43d.; cow,,3d. to 4fd.; damaged hides, 2Jtl. to M.j dry bWijg, ljd. to ,3id.; calf, sound, fid. to 7gd.; calf, damaged, Id. to 4jd.; cowtails, dry,' 7Jd. per lb. Tallow, in tins,- 20s. 6d. to 235; per cwt.; . rough fat,; to 12s. per cwt. ;.; Messrs. Murray, Roberts, and Company report as follows on yesterday's sale:—We submitted a catalogue of 20 bales of . wool, 2000 sheepskins, 350 hides, and a few lota of tallow. The attendance of buyers was a large one, and prices were in favour of sellers. There was keen competition for sheepskins and hides at prices ruling from id. to Jd. per lb. higher than last sale. Calfskins, sound lots, Wei-O'in special demand at about jd. per lb. higher. We quote prices obtained as below:, Wool, cratchings, fair to good; 3Jd. to 3Jd. per lb.; crutchings, heavy and inferior, 2Jd.

to 3Jd.' per lb.; orossbred, fleece, 4rid. to 5Jd. per lb. to sjd. 'per, lb. Sheepskins, halfbreds;: Gd. to GJd. per lb.; fine crossbreds,'sJ(L'to' fid. per lb.; coarse and mediiim Vcrbsabreus;4|d." to sJfl.; lambs', woolly, ■4Jd'.- IteylambsV Short, 3jd. to 4Jd. per Ib.j'Short woolsrSjd. to 4}d. por lb.; dead :and'.:damaged,'pelted,"*3Jd. to Hd. per lb.; butchers' green 4s. 9d. each. - ox, medium', tb heavy, sjd. to (Hd. per 1b..;, ox; .light, medium;'4ld. to 5Jd. per lb.; ox, light,--.J4d. to'44H:'-'per lb.; cow, medium, 4{d. . 4d. to 4|d. per lb.; . bull tina stag hides. 3d;*to 3Jd. per lb.; damaged - and" inferior ■ hides, - ; 3Jd. to 4u. per lb.; calf, , damaged 'and'cut/ 2Jd: to 4Jd. per lb.; calf, ;heayy,-,sound, -4d; s tp-4jd. per. lb.; calf, light, sound, 5Jd. to 6}d!'per lb.: ' . Tallow, "i» :t'ins;;,2osV.'.to 225. 6d. per owt.; m ■ ca5k?,:;.233..,Cd.; cwt. Messrs. ' Levin "and _Co., Ltd., report as fol- : lows regarding ,yesterday's sale:—We held our . fortnightly,, sale ..to-day,' offering 20 bales wool, 2600 skins/ 835 hides/and a quantity,of tallow and horsehair. Wool.—Tho market remains steady at last sale rates. We quote:—Medium crossbred, 4d. to ,55d.,,,per.,'1b.; .inferior, 2d. to 4d.; lambs wqol, ,4d. to 5d.; ;pieces and Jocks,'ld. to 2d.; good crutcKings, to 3^d.; tuediuni crutchings„.2Jd.; to 3Jd.",; seedy and inferior, Hd. to 2jd. - - ■ ' -r '.r ■ - . . .. Skins.—There was good competition. Fine skins. advanced ,;one.;;hj»lfpenny and crossbred one - farthing. Green skins advanced threepence.. ,We quote:—Fine crossbreds, sd. to CJd. por lb/; crossbred, 4d. to 5d.; dead skins, 2d. to 3Jd.; dead hoggets) 2d. to 31d.; dry pelts,. Id. to 3d. .-..lambskins, 3d. to 4}d.; green skins, 2s. 6d. to 4s. "7d. each. • . Tallow.-r-Firm. . Parcels, in shipping ordor, ,£23; tins, ;£lB to 10s.; rough fat, -£10 to £13. - Horsehair, Is. to Is. 3d; per lb. Horns, ss. to 17s. 6d. per hundred. Cowtails, Is. 4d. to Is. ,Bd. per aozen. :. Hidos.—We brought forward a large catalokuo of hides in good condition, which met ivitli excellont competition at full, prices. Wo quote:—Ox hides (heavy), 6d. to 6|d. per lb.; ox' hides (medium),'; s}d. to sJd.'; ox hides (liglit). Id. to 4Jd.; cow hides, 4d. to 4Jd.; cut and slippv hides, 2d. fo S'.d.; stag hides, 21d. to 3d.; bull hides; 2d. to 3d.; calf (best), 4d. to 6Jd.; calf (cut 'and slippy), 2d. to 3d. Abraham and Williams, Limited, report on their, sale hold yesterday as follows :— We offered a good catalogue to a largo attendance of. buyers, competition was keen for everything offered, at last sales prices, except skins, which showed a fair advanco, in sympathy with London, .advices. AVo q-uoto:— ' 1 Wool: Medium crutchings, 3Jd. to 3Jd.; rough crossbred, ,4Jd.; to 5Jd.;. dead, 4}d. . Skins': Crossbred,'.-half wools,' 43d. to 5d.; crossbred,; fine,, Sad, to Gd.; ■ dead, 31-d. to 4d.; inferior lambs', 3|d.- to 4!d.; shorn lambs', 3Jd. to 4d.;,butchers'," li'rvlf; 'dry, 3s. 7d;-' to is., to 4s 6d. to 4s. 'Sd. -'Wo' also have to report tho sa'lo privately 'of 1000". wether skins, green, at ss..ea'oh. . ; Hides: Heavy ox, 6}d.; medium ox, s}d. to 's|d;;' ,'light, Hi-; cows', heavy,. 4W.; medium cows'; 4id.,-to- 41d.; : ; light. 3Jd.; slippy, 3Jd.; ■yearlings',-'tSd. /..calves', 6Jd. to 7d.; dajxiaged, : Tallow 4 ; In shipping order, 235. Gd. to 245. Gd. per, cwt. vHorns. 6s;; 3d: to lis. 6d. per 100. !" , , LIVE STOCK SALE. Messrs. Dalgety and Company, Limited, report that owing to.rough yfeatber only a small on try of slieep and cattle came forward at their Feilding sale yesterday. All classes met with a ready sale. ■ Forward empty ewes made ss. 9d.; mixed hoggets, 9s. 4d. to lis. lOd,; yearling steers, 315.; eighteen other steers, £% 14s. - -Messrs: - Daigety-- and Company, Limited, hold-their fortnightly: sale at the Upper Hutt Yards on Thursday, when a good entry of both' sheep and oattle came forward. There ;was a - fair attondanco.: of -buyers,- but the de-' mand throughout was -easier,, than at last sale. Springing sold. from.',£3 7s. Gd. to -springing . heifers,'.'".<£ 3.; sS..empty heifers, jei--135.-to £2 lis. ; store cows',' .El ss. to wBl 135./' yearlings, 15s.'to: 205..; chain harrows, il 10s. . Messrs. Dalgety- "- "and Company, Limited; report having held 'tlieir fortnightly sale at Ekotahuna yesterday -in- Messrs. Abraham and Williams's yards;- 'TEef report having held a very successful salo.; '"Entries did not come in up to "advertised!-numbers owing to the ( weathor preventing .settlors' from mustering. They quote:—-Hoggets, from Bs. Gd. to 10s.; fat, wethers, "to 155..'9Jd.; ewes and lambs, to 16s. Id.; ewes in lamb; to 12s,■ Gd.; store wethers to-'l3s.'-6d.; dairy.cows, from X 3 7s. Gd. to.-i 4 10s. " [ The New Zealand- Loan and Mercantile | Agency Co., Ltd., Feilding, report that on Friday, owing to the rough weather, a small, '.oritrjs-■ of, sheep -cams,.forward, which met with a "good .demand, hcgge.ts selling particularly well. Cattle,mot-with good inquiry, and ail lines' sold' frec-ly. Store ewes made Ss.; hoggets, lis. 3d./ empty cows, 355.; 18-uionths heifers, '305,; fat and forward cows, £3 Ss. to £3 175.; fat bullocks, light, £'i 45.; 20 other' steers, £3 2s. Gd. ' ' .-. : Messrs;: Abraham' and Williams. Ltd., report that at Feilding yesterday they had . a 'small jrardiiig". "of "sheep owing to the rough iw.eaither,:.:but, a Jieavy, one of cattle. There was -a fair-attendance,' and prices -all round wero in oxccss of. last .rates. Quotations:— Cnll-ewes .in lamb, 95.; 2} to 3-year steers, :.£4,105.;. 2-yearJsteers,! 43 6s. to JB3 lis. 6d.; "mixed yearlings, heifers, £3 10s.', .£3 14s.,'JS 155.,- : ; i£4- : 3s:-, £4 75.,' £5 Is., £$ 55.; heifers , jn calf, ,355;, to £S - 12s.- Od.; forward cows, 3s. Gd.; springing cows, JE6j Ito,' jE6-15s. -A line of 14 lowconditioned dairy cows realised from £2 15s. to X's -12s. Cd. . .':: ' Jtr. Newton King supplies the following weekly auction' report:— ■ At Douglas on-Monday the yards were full, and .'competition,'for both store and dairy cattle- was ■ very, brisk;- excellent prices being realised ithroughout; T,Mixed, yearlings made lGs.. to 225.; 2-year,steers, .£2 18s. 6d. to JS3 4a. Gd-. ; store cows, >£2 to .£3. The dairy stock comprised sovoral'dairies of cows and an unusually large number of heifers.. Cdws in full milk made £5 15s. - to £7 55.; .springers, £5 to <£10 10s.; late calvers,' £3 sk. to £i 165.; springing heifers, £i to £7 13s. Gd.; small and backward heifers,. .£3 to £3 17s. 6d. ■ At Stratford on Tuesday there was a smaller yarding-Of storo cattle -than usual, but a good entry in the dairy,pens; All classes were-well competed. 'for, .young ;.store cattle selling at improved-prices. Two to steers made from -.£2.lSs:."to-'.£3,55.; 3-year'steers, .£3 135.; mixed calves to'yearlings, .to. 375.; 6tore cows, 375. to 445. ; forward cows, 575. 6d. Dairy '.cattlesold'as follow: Springing cows, J35 ss. to .wESj .heifers, J!3 15s. to £6 15s. -*Oii Wednesday, at Bell 810ck,.1 hold a sale .of pedigree' arid, grade Jerseys on account of Mr. C. Clarke. There was a good attendance and!, satisfactory prices were realised throughout. -Pedigree, cows made 20 to 27 guineas; -yearling, heifers,' 14. "guineas; 2-year "bull, 17J guineasjjyearling.bulls, 9 to 17-guineas; purebred (but -without pedigree) springing heifers, i12.. t0.-22J guineas;:.'."grade heifers, 7 to 13} .guineas;: yearling,heifers, -3J to '4h guineas. " , (BT-. TEIEORArn—PRESS ASSOCIATION.) . Ounsdin, September 11. Stock Exoliatigo sales: Electric (2 parcels), *4s.' 4!d-V Talisman Consolidated, JS2 Is. 6d. (2 parcels) and £1 18s;-'" :. . ' . ..DREDGING. ' " * - CBY 'TELECRArn—PKESS ASSOCIATION.) Dunedin, September 11. • Dredging- returns: 'Mystery Flat, 520z, 17dwt.; Mastertori, 38oz. 3dwt.; Chicago, 30oz, 3dwt.; Riley's Rovival. 280z.: . Waikaia, 270z.' 7dwt.; Hartley and Riley, 230z. Bdwt.; Electric 11, 21oz. sdwt.; Central Charlton, 21oz. Idwt.; Manuherkih, 170z.; Koputai, 16oz. 2dwt;; Charlton Creek, ltoz. 9dwt.; Alexandra Lead, 14oz. 4dwt.; Clutha River, 14oz. 2dwt.;' Kura, lloz. Bdwt;'; South Waikaia,- Goz. ' ; PROGRESS MINES. , . (nr' TELEoitAPii—ntEss association.) ' Reefton, September 11.. ; Progress Mines: The report shows that during August 4320 tons wore'treated, yielding bullion (including cyanide £927 and concentrates i'39o) | of. a value, of. .£5713..,,. The developments have 'revealed" nothing of importance. Tho ore body mentioned in tlio'July report as encountered in the No. 2 drive has proved so far of little value.' Golden Fleece: As the ore body in No. 15 level was comparatively short in length mid narrow in width, it.,was decided to lot the mine on tribute. Tjiis'was done, the tributers commencing work on-August 25. - Wealth of Nations:. No. 10 lovel south (one contract) has -been steadily extended, for the bulk of the distance following a small unimportant reef. The last 5G feet driven yielded 7G tons of quartz of low-lvalue. The rise that is being put up in- the,7footwall of the reef at No. 9 level has reached 76 feet high. Assays

over tho first 51 feet show an average value of 17.9dwt. over 24.5 in. No. 9 level is also being extended, following a fair reef hack. On tlio surface steady progress is being made with alterations to the equipment. Greater headway would have been made had not the timber eontractors thrown lip their contract, nceetsitating fresh arrangements. Work on the wafor-race is Hearing completion. The battery crushed 1025 tons, yielding 3330z. Gdwt., valued at .£1731 17s. 3d.; cyanide': 1100 tons of tailings gave J!B28 Is. lOd. worth of bullion. Blackwater Mines, Limited: In August development works wero suspended (with the exception of No. 1 level) as sloping oporations Interfered. While leading stopes wero taken off Nos. 2 arid 3 levels, No. 1 level was driven to a point 13 feet north of the crosscut. Samples assayed'gave an average value of 20.8dwt. over 41.5 in. Going south, tho drive lias reached a point 21 feet from tho crosscut.' Assays over tho first 17 feet have averaged, over a width of 19in., 3}dwt. A preliminary mill run took place on August 7, and on August 11 fifteen stamps started. work regularly, which number was later increased to 25 stamps. During August 1030 tons were crushed, yielding bullion valued at ,£1485. There was no clean-up at the cyanide plant. The last five heads of stampers started on September 4, and the whole thirty head are running well and steadily. Tho cyanide plant is also complete, with the exception of additional extractor-boxes. The calcining trays and the bullion furnace are now being bricked in- A site is being prepared for the slimes treatment plant, which work calls for heavy benching and extra concreting. The water-race is giving every satisfaction, and the whole plant is working quietly and well. LONDON MABKETS. Messrs. Dalgety and Company, Limited, Wellington, have received the following cable message from their London house, under date of September 10: — Frozen Meat.—Tho market for beef is weak, and a further decline is expected. Since our last advices Now Zealand primo. ox hinds are .|d. per lb. lower; New Zealand prime ox fores, id. per lb higher. The market for mutton is firm, but prices are unchanged. The lamb market is weak, but prices are not quotably changed. Tallow. —Sinco our last advices prices are higher by Gd. to Is. per cwt. The advanco is chiefly on good mutton tallow of medium to fair colour. Rabbi tskms.—Pricos are likely to continue firm, but there is a possibility of a rise at next sales. Buyers are not at all eager, and appear to be inclined to act cautiously. , BANK OF ENGLAND RETURN. ET TELIGRAPn —PRESS ASSOCIATION —COrTMGOT (Rec.- September 11, 8.20 p.m.) London, September 11, The Bank of England return issued for the week ending Wednesday, September 9, is as under;—' Issue Dnrxnrmy! 1 .. Notalssm ... £55,031.000 Gov. securities i 11.015,000 Other eecari- , ' ties ... 7.434,003 1 . ■•:■■■■ . ' Gold ■ ... 35.585.00Q f55,C54,000 -i 55.034.000 Bjjranta Dzpaktkekt. rroprietors' Govt, seouricapital £14,553,000 tics ... £15,532,000, FuLilic do- Other securiposits ... 5,700,000 tioa ... 26,432,000 Othor deposits, ... 45,514,000 Notes ... 33.03a.C0a Best, 7-day andoihor Coin ... 1,570,000 bills ... f.'Oj.CflO '£5!>,172.CG0 £59,472,000 Tho leading items of the Bank of England return afford the following, comparison:— This week. Last week. ; Last year. Bullion: _. . ... Ss.'Sb t m 36,P16,fC0 , 37,260, CM Rescrvo 27.5(8,CCD 27.30) ,000 57,1*5.060 Note circulltioa K),09. ,000 H1.4 6,C0) 89,119,G0u Public Uuposiifi 5,700,Q0J 6,705,1)10 7.M2.0J0 Other Deposits 45,514,000 44,537,000 IG.OJIiOW Vroportioa .of .... reserve : to .; liiLoilicios ... 53.68 ■' 53.2} 51.28. GOVERNMENT SECURITIES." - The.following are the latest quotations for Government securities, with a comparison of those ruling last woek:— | ' . ' Variations — : ' Pries compared I; . -® with - ! ' • , last week. \i - - ; ■" £b. d. |'2i%lmponal'Con'Bolß..; '" .;. -83 0 0 ' ss. higher 4 „ N.5.W.1933Jan.-Jnly ... 108 0 0 10s. hiehor 3j„N.S.W. 1818 Mar-Sept .... 99 0 0 Unchanged .3 „ N.G.W. 1035 Apl.-OcS. ... £8 0 0 Unchanged 4 „ Vic. 102U Jan.-July... ... 10! 0 0 Unchanged Si „ Vic. lsai-6Jan.-Juiy ... 100 10 0 Unchangod B « Vic. 1529-49 Jan.-July ... b9 10 U Unchanged Si „ S.A. 1016 Jan.-July ... Mid ss. higher 3 „ S.A. 1910 Jan.-July ... 6f 011 Unchanged 4 „ QTdl9ls-!ilJan.-Jnly ... lC'j 0 0 Ks. higher '3i ~ QTa!M4-:oJan..,Ji;iy ... »J 10 0 53. lower 3 „ Q'l'UlO-.8-tfJan.-July ... 87 15 0 ss, lower 4 „ N.Z, IWIMay-Xov. .„ 10/10 0 Unchanged 3} „ N.K. I'jiO Jaii.-Juiy ... :.U 15 0 Unchanged 3 „ N.Z. 1940 Api'il-Oec. ... 8:1 0 0 Unchanged Ji „ W.A.1910-40May-j;ov ... u.) 10 0 Unchangod 3 „W.A.1915-35Alay-lwtf ... b> 10 0 Unchanged 3» „ Tas. 1940 Jan.-July ... 10 0 0 15s. lower--3 . Tas. 19-2040 Jim.-July ... 6ti 0 0 10s. lower THE MONEY MARKETS. The Bank of England discount rate is 2\ per cent, to which it was reduced on May 29. Short loans are J higher at i of 1 per cent. Thiee. months' bills, i higher at 1 ,9 : 16' per cent, in London; in Paris, lj to 2i per cent.; and in. Berlin, 3 per cont. COLONIAL AND OTHER PRODUCE. Wheat.—Damp weathor has. hardened the markets, espeoially for new English and readily available foreign 'parcels. There is little inquiry for cargoes, which are firmly held. Australian, afloat, 38s. 3d., prompt delivery, 38s. 9d.; new crop, January-February shipment, 375. There is more inquiry for wheat on spot at 40s. to 41s. The American risible supply of wheat east of the Rockies is estimated at 29,211,000 bushels. , Flour.—The. market is quiet. Australian' flour is quoted in London at 245. 9d. to 255. 3d.,, and in Glasgow at 265. 9d. Butter.—The market is steady. Danish, 118s. to 1205.; Australian, none offoringj New Zealand,, llGs. to, 118s. Sugar.—German beet, 88deg.,' Sd. lower at 9s. 6d.'; first mark granulated, f.o.b. Hamburg, 3d. higher at .lis. lid. per cwt.' ' Poarlshell.—At the sales prices advanced 10s. to 15s. Sheepskin Sales.—7 800 bundles were offered, and tho bulk was sold. There was an average attendance, including some Americans. Thore was good competition for everything, at oneeighth to a farthing above July rates. Bradford Tops.—The. market is firm, and prices unchanged, THE METAL MARKETS. Copper.—Spot, lis. 3d. higher at ,£6O 18s. 9d.; three months, lis. 3d. higher at ,£6l 13s 9d. per ton. Tin.—Spot, 40s. lower at ,£l3O 55.; three months, 355. lower at £131 7s. 6d. per ton. Pig iron, 4d. lower at 525. 6d, per ton. Load, 2s. 6d. higher at .813 ss. per ton. Spelter, 2s. 6d. higher at ,£l9 ss. per ton.