COMMERCIAL.

Dominion, Volume 1, Issue 304, 17 September 1908, Page 10

COMMERCIAL.

. THE SHAREMAEKET. \ ■ * At yesterday's sitting of the Wellington. Stock. 2 Exchango sales were reported of Christcliurclv f Gas shares at .£!) 155., and New Zealand Port- p land Cement shares at iil Bs. 6(1/ The quota- i tions exhibited no changes. National Banks, c buyers.£s, sellers J35 Is. 6d.; 'Wellington Trust '« and Loan,'sellers ;£7 7s. Gd.; National Mortgage, t buyers -£3; New. Zealand and River Plate, r ' buyers £1 10 s.'. 4d„ sellers ,£1 10s.' 9d.; Christ- 1 church' Gas, sellers .£9 17s. 6d.; Port Chalmers 1 Gas, buyers £1, sellers .€1 35.; Wellington Gas, C £5 paid,, sellers ,£11; National Insurance, 1 ' buyers Jci Bs.; Standard Insurance, sellers 1 "■ JEl.2s. 3d.; Wellington Meat Export, £4. paid, ( sellers isrManawatu Rails, bii'yers'i£2 12s. 6d., 8 sellers- £2 155.; New Zealand-Shipping, buyers s XG 75.; sellers. £G 103.; Wellington Woollen, t sellers .£3 6s.' 6d.; Westport-Stockton, sellers , 9s: 6d.; D.I.C. nreforence, sellers <£1 35.; Kauri 2 .Timber, 15s. -paid, sellers 14s. Gd.; Leyland- c Q'Brien Timber, sellers U2 7s. 6d.; Sharland's i ordinary and preference,- sellers £1; Whit: I combe and Tombs, buyers £i Bs. Gd., sellers £i j 1 10s; ■ ■ \ ; ■ • .THE MINING MARKET. Talismans appear to be steady at 405., several sales having been made at that figure during j tho past few days. Waihis have firmed, .with j buyers .now-offering £0. Tho quotations were 0 as under:—■ J . ' 1:

-• — • : * ARMAMENT COMPANIES. ■- >'•' j The outlook for tho British'armament com- f panics said'to be very cheerless. It was v . tho complaint last' autumn that the .Govern- I mcnt, by .'-delaying. tlie work, to. be given out, s were causing''great distress and'inconvenience, j at the centres n'hero large establishments have' v been equipped with the most, up-to-date and j . expensive plant, ie&ppcially to copewith--.the 1] rapid manufacture df material required, in l naval construction. 'Armour-plate orders cxfected several months'be£qra were given out in 'ebruary last, but they •'■were only for 9COO tons, wliile such an order is.only equal to one year's capacity -of. any one of'the works. These orders are we'll'towards.'completion, the earlier stages having all l:cen finished., 'f he,'bcxt orders i are expected, to be unusually small,'not i in the aggregate to keep tho smallest, firm for' f six months. -In heavy gun making- the :position' is-just the same, for the heavy gunsin t use are of no great age, and, the destruction '' ' of gun usefulness-going on at .the present'.time . is'so small that no orders of any magnitude' are possible.' ... . . I Under these circumstanc»s, it is not surprising. 'J to learn': that' the building of battleships is j now made a , matter. ;of .-speculation.. \"Thq •' Economist!''(London) of August. i;" says: .."A.. j rumour has gained credence in well-informed. Circles -that, the Brazilian battleships . were I built as; a speculation,, and-that a, financial -J syndicate has been formed in Loridon, pa'rtly;' 'with the object'of''relie^ng.'Brazil, frorni.-'the j financial burden of these monsters, .partly to ! profit by the jealousies and rivalries of naval 5 Powers. We do not' sifpp"osb that"tho names ] of the group will ever be published, or that 1 the financiers concerned would-care' for it to bo 1 known that they. are. pr'ep'ared",to sell. Dread- ' noughts in London,-or Berlin', or anywhere else 1 where they can find a market. A very little j diplomacy and common-sense' among. British and German statesmen should suffice' to pro- 1 1 tect the taxpayers of both countries against '■ this, audacious exploitation. It-would not bo j surprising, however, if . the....syndicate.....were., found to have secured journalistic, support-in a 1 - section of-the pres3. ■ .Meanwhile', the'battle- ' ' ships have already served, their, speculative ! purpose: toisome extent; for they have at length'" 1 alarmed Argentina,' whose, Government,lS- nciw' " •x about to embarrass its' a-new naval- •! programme. Perhaps the .best thing would be '■ for. tho world to form a fund;, for. having-these ,i battleships;- sunk,', for no -^Government••wants. 1 them, and 'if , any -Government-- takes them' ' it will certainly.be involved in'difficulties with : its neighbours. "A writer in .the 'Nineteenth 1 Century' observes that the ships South America- has sold , could ■ wipe* all ,the - fleets. Souths.' America, possesses off the seas."' Of'the .-list he.- r < gives, five' out of seven were built -at ;Els- ' wick"." • MASTERTON GOLD DREDGING I CO. , ''~' The first dividend of the Masterton Gold Dredging Company of ss. per share was declared at a meeting of directors held-on • Mon- - -.., day night at Masterton. The dividend declared I absorbs and is equal to 25 per cent, of the capital of 'the company. In view of the , present favourable prospects the:.thares,;;ai'e" being tightly'hold, .but sales were . recorded some time ago "is" Considered that 1 the'area which is being' dredged ..will not be exhausted for a period of fully four years. During its four years of existence.tho,company, , ' has paid in dividends .£4-15s. per share, and ' the shares', to-day aro quoted at £3. The head office of the company .was recently transferred to Masterton, ;.aud' the above was the first - dividend declared :in' Masterton. The Customs revenue collected at Welling-' .' ten. yesterday-amounted to .£1737 19s. 2d. WELLINGTON'PRODUCE MARKET. .... •Messrs. Laety and Co., Ltd.-,-Wellington, port wholesale.jprices ruling on the'market:—. Wheatj. fowl 4s. lid. to-ss. 2d., broken 4s.'Gd. to 4s. '9d;; oats 2s. 9d. to 35., seed oats 3s. 2d. to 3s. Algerian-seed-oats 3s. lid.; maize, ss. to ss. 3d.; crushed malt,'Ss.' Bd.; fowls' barley,. 45..; ' horse 4s; ,Bd.—all at,per . bushel; ricemeal, Iff;' flour,.' New Zealand £11 10s.,.Australiau.£10'15s..to lEll; bran, ;£G ssl. to £S 155.; -pearl, barley, 419 "10s. ; peas,' part- . ,ridgo'4s; : :-9d,,-Prussian blue Gs. Gd., fowl, peas 4s. rd.vsplit ,C18.10s;; bonedust,-.£6; sUperphos: , , phate's," £i 15s. to £a; gtiano, .£4-ICs:; chaff (o'atensheaf),,-bCS 7s. Gd.'to £!> 155.; oatmeal, 412^105.-to JEI3; potatoes, tSble £0 ss. to 'A 5 155.,. New Zealand, seed (Up-to-dates) to £6 . 10s., kidneys '£6 10s.'; molasses fodder, J%i> biicoh, factory,' sides SJd.', :hams''9d.; rolls 9id.j bjitter, ,bu'lk, primo,- ls>. Id.; .'cheese, factory, 6Jd.; pioultry, lien,s .3s. . to' 3s. Gd.,-,-ducks 65.-' to 75.. Gd., 1 .turkey's 1 , gobblers,;lsß.', to 225., hens '8$; '. to' per pairV cauliflowers,'3s.'to,Gs'.; cabbages, ,2s. Gd. to 7s. —ull at'per sack; fresh' eggs, Ls;: per . dozen; cheese, Gd. to G|d>-per lb., loaf, 7Jjd: per lb. ; onions, Japanese, il'4' 10s. to i!ls perl ton; Akarda cocksfoot 10d., ryegrass-4s. 9d. to ss. Gdi per bushel. , HIDES, - SKIN'y, ETC:' ". ', T Messrs. Hudson hnd'Marriott, Ltd., Levin, report having held their usual monthly sale of wool, skins, hides, and tallow at. Levin. yesterday. They had- .a large catalogue ' of - nil lines, aiul there was a Igood attendanco of buyers. Wool and skins showed a considerable advance on last_ sale rates,, a big line of fine crossbreds realising GJd; They quote Wool—Crossbred lambs, 4d.; dead, 4d.; crutchings, BJd.; inferior, 3d.; locks and pieces, 1 lid. Sheepskins—i'ine crossbred, GJd.; medium,' BJd.; shorts, 4id. rseedy,-3^d.; dead, 3{d.; broken, 1 3Jd. ;■ hoggets; 41d.; green ' skins, ■ 4s". 7d. for best, 3s. 10d.' others; green dead, 2s. 3d. Hides.—Ox,- frllb., 5d.; 551b., 4Jd.; 471b., Aid.; cow, sp!b., 4d.; 351b; to 451b., osd.; 31d.; cut hides, 3d.; slippy, 2gd.; yearlings, 3]d.; calf, best 6d., 5Jd.,- inferior, 3Jd.; slippy, 2|d.; tips, Is.; bones, 25.; horsohair, Is. ljd.; •Tabbitskins, 6d. per lb." Tallow, tins' 17s.,'' casks 225. Gd. - STOCK SALES. , IEI TEiXGEAPII—I'ItUSS ASSOCIATION.) Chrlstchurch, September IG. At Addington live stock -market to-day there were fairly; large entries 'of' stock and 'a" good attendanco. -Beef shoived no inprovement on late sales. Store sheep, showed a declihe. Prime fat lambs sold: well, and the fat sheep market opened dull. There was a larger entry of store sheep than last week, the bulk being hoggets. Tho '-demand showed a falling-off, and prices were fully 9d. to Is. per head below last week's rates. . An extra .good line of ,exvc hoggets made 14s.' 9d. Other, lots of ewe hoggets made 12a. Gd'. lo 14s- 2d.; "best wetherhoggets, 12s. Gd ; to 135.; others, lis. to 125.; best lines of mixed sexes, 12s. Gd. to 13s. Gd.; others, 10s. Gd. to Us. Gd.; and wethers, 14a. Gd. to 15s. Gd. In-thp fat lambs pens there were only about 150 hoggets and several pens of this season's lambs. Some of the hoggets were unfinished, and were sold as stores, and about two-thirds of the entry went for export at 14s. to lGs. Gd. There was active competition for young lambs, and they sold at 15s.' to 245. There was a large entry of fat sheep, of which a considerable proportion was lightweight wethers.. The'entry-also--included a Bumber of lines of merinos, and the - first thorn sheep of the-season,' which were a line of heavyweight wethers from. South Canterbury. There was a fair amount of business done for export, but there being a plentiful supply of butchers' sheep competition was not brisk, and prices were generally easier, .especially, for ewes. The range of prices was: Prime wethers, 19s. to 225. 6a:,' lighter, 15s. to 18s.; shorn wethers, 15s. 9d. to 16s. 6d.; prime merino wethers, lGs. Sd.' to'lSs. ld.; good, 12s; Gd. to 14s. lid. ; lighter, 10s. -Oil. to 125.; prime ewes, 17s. to 20s. 3d.; medium, 14s. to 16s. Gd.; aged and light, lis. to 13s. Gd. The supply of beef totalled 299 head, ar'l included a, good.

.proportion of prime quality beef. The sale was somewhat irregular, and last week's prices were-'barely maintained. Steers made .£G 15s. "to .£ll 155., and extra to .£l3 55.; neifers, dCo 2s. Gd. to .£8 155., and extra to .£11; and cows, .£4 15s. to ,£8 55., equal to 245. to 28s. for prime, 215., 6d,.t0 235.,Gd. for medium, and 18s. to 21s. for.cow 1 and,inferior per 1001b.. There was an average-entry, of veal calves, and they sold at 4s. 6d. to £2 7s. , Gd., according to size and ■quality. --There was-a medium entry of pigs, 'and'a good sale for all classes, especially stores', and prices wore generally firmer. Choppers made £H to ,£6 10s.; heavy baconers, 60s. to 75s.;.and lighter, 48s. to 58s. (equal to 5Jd. per lb.);■ porkers, 375. .fid.'to 50s. (equal to Gd. to o{d. per lb.); large stores, 355. to 395. Gd.; medium, 28s. to 345.; smaller, 225. to 275. A line of 50 halfbred Tamworth weanera from Cheviot made 17s. to 25s.,'and smaller sorts, 8s upwtu'ds. There was a small yarding of store cattle. The quality was indifferent, and the demand weak. Prices: 15 to 18-riionths, il 17s. to .£l' 10s.; 2-year steers, .£2 17s. 6d.; 2-year heifers, =E2, lis. j 2J-yenr steers,' JA. 7s. ,• dry cows, £1 to .£3 6s. There was a large yarding- of dairy cows, tho great bulk being of poor quality. . Tho demand was weak, and pricee from .£3 to ,£7 15s. (BY TELEOBAPH—PRESS ASSOCIATION.) Dunedin, September 16. At Burnsido stockmarket, 217. fat cattlo were yarded.""" The "quality" .was good;' with a few pens of exceptionally, prime. Prices were much on a par .with-last.;week's for prime quality, but medium and unfinished sorts wero a little easier.'; Best bullocks, .£ll to j£l2 55.; extra, to 0£13'55.; medium to good, .£9 to! ,£lO 155.; light and .unfinished, £7 to ..£8 15s. Fat sheep -.. 35J7 yardod, a. heavy yarding. A good portion were .'primo heavy sheep and. freezers.'Freezing buyoTS bought fairly .heavily, but prices notwithstanding wero down all round about Is. ,Best wethers, 21s. to 245.; medium to good, 18s. to 20s:; inferior, lis. 9d. to 175.; best ewes, 18s. to 195.; medium, 15s. to 175.; inferior, 6s. to 13s. Lambs: Nine lambs were yarded,, and sold . up to 31s. Tig's: Trices for suckers and slips showed an advance on last week's rates, porkers and baconers being equal to last week's. ' Slickers, 20s. to ,215.; slips, 225. to 80s.; stores, 335. to 385.; porkers, 28s. to 325.; light '.baconers, from. 435. to 475.; heavy baconers, 4Ss. to 605.; and choppers, up to 70s. - ' : FREEZING FIGURES. (BT TEI.EGUAPII.- —SPECIAI COBIIESrONHENT.) . Auckland, September 16. . : The.-annual meeting of the Auckland Farmers'-Freezing Coinpany was held to-day. For the year only 50,941. lambs and 1271 sheep have ..been "frozen,. as against 54,231 lambs and 2G76 sheep last year. There has been a drop in . freezing cat-tlo as well, 1767 boing dealt with, as, against 7672,1a5t-year, and .this shows also that Auckland's -Cattle herds are not 1 nearly numerous enough for the availablo market. On the other hand, 3611 "boner's" wero,handled this year, as against 1454 last year, showing., .that ,d"niry;ifarmors . havo. beon adopting tho wise, course of weeding out unprofitable cows;. but"thsre is" a movement to prohibit the itp"portation' into England of boned heef, and this' -.wiir.be "a-serious blow to tho New Zealand trade. The company records a big increase in ' the -egg trade, for'last. year .2553 ■ crates, containing 869,640' eggs; were passed through the chilling-rooms, as against 3881 crates, containing 1,307,880 eggs, this year, the . biggest total in New Zealand: >In addition, last year there wore 156 tins of egg pulp frozen for winter use, .and this year 1956 tins,, containing 59,902 eggs.' Th& drought !iri January and February caused a fallingrdff" in the butter and cheese handled'at. the freezing works,.from 4556 tons of 'butter,.and. tB3O crates of cheese last' year, to 411S ton's butter and 6935 crates cheese this year. There has been a substantial increase in the frozen fish and poultry trade, and the ice 'irado has .increased: >.-It .is, intended to foster the fruit industry by preparing rooms and .installiiig' Plant especially adapted to fruit and egg..chilling..... , . . .... ,- . \ -•; -The. cpihpapy;. is. ;,ablo to reportcontinued' ,prosperity;,,lwhicli .iis.. not. only; gratifying to shareholders, but to the public generally. "With a nominal oapital.of ,£75,000 'and a subscribed, capital.of .i£43,819,.(61G3 l shares 'at £5 each boing, unallotted,-and'.£366 in unpaid calls), the company is able ; to., present a balance-sheet to-day showing 1 a profit-for tlie year of ,£4845 9s. Id., which,- with the balance brought' forward, .1e.aye5..£6461;,75. Id. to be dealt with, and the rdirectors propose • a 'dividend of 6 per cent., absorbing.,J;2S2!);lthe sum of .£IOOO to-go to reserve fund, and .£1822 to provide for deiirecia- • tion. -Last, year a dividend of 6 per cent, was • paid, .",$200.0 iv'as carried to reserve, and the balance of 41883 brought forward, the total sum dealt with being'dSGlS-t, after making provision for" depreciation. ; ~ :" v :: ' : ' '. BRAN AND. POLLARD. . (BY. TEt-EGKArH—PRESS ASSOCIATION.) Z ;.l—l ■ ".Christchurch, September 16. The New Zealand Flourmillers' Association have reduced the price of bran to ~£4 -15s. and pollard to £K per ton. S ...THE -METAL MARKETS. (BY TELEGEAPB—riiESS ASSOCIATION—COrYBIGUT.) London, September 15. Copper.—On spot, i£6o 17s; 6d.; threo months, .£6l 12s. .6d. ' . . . . Tin.—On spot, \£l3o ,55.; three months, £131 10s. ' : ' Silver, 1 24 1-16^. AUSTR-ALliiM ..PRODUCE '.MARKETS. . : ' Sydney, September 16! Wheat,,4s; 2d.-.Floiir, ,£9 ss. Oats: Tasmanian white, 3s. Id.; New Zealand "A"• grade gartons, 3s. 2d. Barley: Cape, '4s. 6d. to 4s. Bd. Maize, 4s. 4d.; Bran and pollard, »C 6. Potatoes: Tasmanians, £5 10s. .'Onions: Victorian . .512;.-. Japanese, 1 . J!15; ' "Qutter, 102s. to Moßs.. Ghbese, BJd. •-■Bacon,'Bd.. . ' . - ' •• .-•(•' • -.' * ... Melbourne,. September 16. '.r'Wh^ ! ?;4s.Voja.V'' l i:ioiir,-.;i«8 ;55.,. to -SS'- 10s. Osts; '2s': lOd. to 2s. I lid: ' Barley: Cape, prime, '• Maize; 14s. 3d. . Bran, Is; 3d. PoUard, ls.-''4d.'- Potatoes: Tasmanians, ,£5 ss.'to ,£s'los. Oiiions, JGll 10s. ... •' 1 ' Adelaide, September 16. ■ Wheat, 3s. lOld. Flour, J!8 10s. Bran and -pollard,'ls.-2id. • . ■ . v ' MINING'NEWS. FLOTATION OF NEW COMPANIES. A STOCK. EXCHANGE DECISION. t TEiiG'r.Arji— press association.) , ,' ' : . .Auckland, Soptomber v l6. .. At tho noon call of tho Auckland Exchango to-day, the.chairman (Mr. G. A. Buttle) maUo a few remarks regarding the number of now mining ventures, ;that -are j now. being placed upon the market."" He,--said:—." Just now 'wo are having a:.,very..large number of-proposals for flotations/of'iew*mining companies coming before the committees, -of ■ the exchange: Iu most of those 'the.-vendors are set down to receive a certain.r'am6uri't of cash : for. their in'terest.:.,Your;,coiiiiilittee, A&o this question very careftilly, : and/ave come to. the decision., that, unless very good reasons are shown why. any particular vendor of a property is entitled to some cash consideration, theso ventures should not be encouraged. When vendors come forward with what may bo described as/foutpeg claims,' I fail, to see why they should receive a cash consideration. Let them take sharfcs to show their faith in tho property, 'and allow the money subscribed by the public to be used for tho development and prospecting of the ground. (Applause.) This, I may say, has been the decision of tho committee on ,tho matter, "and we shall discountenance the paying over of cash to vendors of properties! .excepting!,.in special cases where 1 good reason , is. shown ' why it: should, be allowed." . .-' ' ! , KOMATA REEFS GOLD MINING CO. ; (BS TELEGKAPJI—PItESS ASSOCIATION.) ; Auckland, September 16., During tho i our - weeks ended September 1 : the Komataßeofs. Gold Mining Co. crushed ant I treated. 2100 tons of ore for a return of bul lion valued at .£3849. This shows a falling-of ; compared with previous returns. Tho tota ' amount won from "tliiTmine to date is J230-i,239 ; STOCK EXCHANGE. I (D { " TELEGHAPII —PFESS ASI&aiTIOX ) Dunedin, September 16. ". - Stock Exchango sales: Electric, 4s. 9d. (twi ' -parcels).

• Buyers. Sellers. Sales.;' e •fs. (I. J! s.' d. . X s.d. j Talisman • 2 O'O 2 0 3 .2 O.'O o Wailii ' - 9 0 0. 0 1 0 . —: j Waiotahi " ... - ; 0 3 2 —v N.Z; Crown ... ... — 9 4 6 — I Big-Bivor ... ... 1 12 6 -111 0 - v .. . . . ■ ■■ ■ j