COMMERCIALS

Dominion, Volume 2, Issue 321, 7 October 1908, Page 9

COMMERCIALS

THE SHARE MARKET.'

Quietness pervaded the markot, the. only bnsi-, ness reported being a sale ' 5 f Wellington Gas, new issue; at a premium of 7s. (id. lhe quotations show no changes. Bank ol ,Ae.w.:/!eiVland, sellers, .£S 125.; National Banks, ; sellers, .£»■ 25.; N.Z. and River Plate, buyers ;£l. 10s. 9d.,sellers .£1 lis. fid.; Wellington Trust and Loan, sellers, .£7 75.; Wellington Deposit,, sellers. Js--2(1.; Napier Gas, paid,..sellers, J!15; ) .'Ort. Chalmers Gas, sellers,. JCI 25.; Standard Insuinnce, sellers, .£1 2s. Gd.; Gear Meat,. buyers, £2 95.; Heat Export, M paid,- sellers, 12s. Gd. paid, sellers, .£3 Is.; -jMiinawatu. jiails, sellers, .£2 12s. Gd/; N.Z. Shipping, buvers iIG 9s. cum dir.; Union Steam,'buyers, •£U4s.-Ja.-» Wellington Woollen, sellers, .ss.j' Ay estport Coal, buyers, -.£6 55.; /Westport-Stockton, buyers Bs. 9d„ sellers 9s. 3d.; Donagliy Rope and Twine, sellers, .£1 35.; D.LC., preference, sellers, .£1 2s. Gd.; N.Z. Drugs, sellers; .£2 lis.;. N.Z. Paper Mills, buyers i'V 2s;'lod., sellers j:i Ssl 3d.; Taranaki PetroleuiiV; • buyers 3s. 6d., sellers 55.; Sharland's, ordinary and preference, sellers, £1. ■ THE MINING MARKET. . There were 110 sales reported yesterday,..but the quotations were more numerous than Usual. Big Rivers have firmed 011 the dividend announcement. According to a' telegram received by the Wellington Stock Exchange,, the directors of the New Big River Company have declared a dividend (the seventh) of 2s. Gd. per share, absorbing ,£3OOO, and payable on Saturday, October 10. .£SOO has, been ridded to. the reserve fund, which now stands, at;£3ooo. Yesterday's quotations were &s-under:— Buvers. Sellers. ; ■■■£ s. d. ■£ s. d. Talisman .2 .1 G 2. .2 ,_G ... Waihi ...9 10 9.2 G Waihi Grand Junction ... • 1-1G ■0 - 117 . G ... Waiotahi ... 0.3,0 ..,0 .3. 5... Tangiaro 0 0 8 0 010 May Queen ' 0 2 G 0 2 8 N,55. Crown ... ... ... : — 0 4, 2 Big River 114 G 2 0, 0. Blackwiiter 1 - (> — ; Consolidated Gokllields ... '■ . — ,0 17 3. THROUGH BANKERS'"SPECTACLE'S.-,, Tlio president of the Bankers' Institute, of Australasia, Mr. O Morrice Williamson his presidential address, made some interesting points that afford food for reflection.. The rates for money in London were, he said, extremely low, while in Australia-there had been a distinct hardening tendency,'' ilue\to' several causes. In anticipation of-the-imposition of higher Customs duties by 1 the Commonwealth Government imports \yeret,.JfL'rgely,.-increased, and even since the tariff had been passed the • figures have continued on--an unexpectedly large scale; but, as the ,advanced, .there, were evidences that at its close there would be a shrinkage as compared with 1907...' l?6rtunately, owing to the strand state 'of -the. country and the careful-manner 'in-which trade "had been conducted]' of,-late: "years,: traders had met their liabilities- without'un-'-duly straining, their resources,'"and' aIW-bolia-fide needs for financial .'assistance r.ior.: the: purposes of. commerce or • for., dovelopiiig -thc country, had not gone unsupplied.--Owing to recent fairly general/rains,;.,our!.primary ■ producers would probably...-have, a , salisfac- : ,'tory season, and the development.-of ",,'ou'r." lands' by the smaller producoi;; justified the; belief that, exports would .steadily expand; year by year. Manufacturers had been'kept fully employed, and their' 1 ' prdspects of creased trade were dccideffls"--'oneouragirigi'. if. they were not hampered W"' discofi'raged by difficulties with their employees.,. '.Up to the present the hardening in itlie. value of money had not been sufficient oJto affect borrowers; .and if the ...owning . season was good it might result in c}iefilyng., this upward tendency. Much remained :to,, be done to take advantage of tlio nmnr*. opportunities offered by this country fp', i,thps'e. Who;" .'would come here and deserve them:' Although, .'settlement. on the land by oiir .owtf people.was going ;0n steadily, it was ■ to'- ho'dSplore'd'that measures ,on a comprehensive '.scale, had..Hot. yet; been devised for placing" desirable - immigrants on the large areas;off.our fertile lands awaiting cultivation.

FROZEN MEAT J) '. In thoir produce market report"'dated ton ; ." don, August 28, Messrs. AV. 'AVeddel and €&?,- make the following common'ts:..'withl.;respect']td frozen meat:— v. : New Zealand Mutton—Awjvals.cduring-the fortnight amount to 76,425 carcasses..,.,, Stocks, of prime. Canterbury sheep,,,which ,have,, been very light of late, are now replenished by the. three shipments just to blind; a ! ihl "in viewf.b.f. the present slow demand it is only just possible to maintain quotations.'" An'exception has to be' recorded, however, in: the case"of. prime sheep of heavy .weight. The quantity .available, is not sufficiently plentiful; to supply even the small outlets for this description; and va'lues : nro consequently -firmer. <':".Best '.'North -Island sheep realise 3Jd. to 3|d., nndv occasionally, rid. for fight weights, and 3|d.-;.to 3id/-for mediumand heavy weights. Second.,quality,-sheep:,are being sold at 3UI. to 3jd. rather more plentiful, and'.- ai*-3'd.',to-:3'l-iud. per lb. meet a slow sale. ,A't, the'close";there is a slightly , bettfer tendency ill the'market'generally. ■ , i: .. : " Lambs.—Arrivals during the past two weeks amount to 4730 carcasses froiii'Aiislralia,.lß(S,42s carcasses from New , Zealan,d,"„aiid '5616 carcasses from the' River Plate. There has; been a marked falling off iu the'■■demand for frozen lambs recently, mainly ' owing' to "the- competition of fairly large marketings" of Scotch arid Dutch mutton and lambs. ."'Supplies of frozen lambs, however, both in si ore and to are by no means heavy, and .last quotations have been well maintained for all eXc'ept r heavyHeight lambs, which feel ntost. keenly-the "competition referred to, and are :Jd. .per lb. lower. Small lambs are still most in: demand ;.'but.as supplies are very . modern te t the. 36-4211). grade is coming more into request. -- Light-weight lambs of second quality are se'arce and firm., in price. ' ..*

IMPROVEMENT IN "AMERICA, v ' There is no longer any doubt as to the general improvement of business ill the United. States. Fronl various n'.anui'actut'iiig.,centres wo learn/that, notwithstanding that .this is the holiday season, a very 'tair number of orders are filtering.through,_\vliich compared favourably with the same period of last year, when trade was in a- very' hesitating.condition: There are a great number ibf American visitors now here, including the. heads of some .prominent houses, who are kept advised as to ltonie movements. Some, of' these • \v!io : have ' been interrogated agree that a steady recovery" has 1 fairly set in. In the <uuULrwest, 'b'tl.sijie,ss' appeal's lo have almost returned- to its normal state, and the opinion is expressed:,that before., the year is out, prov;ded; ; crpps ■ conie-up.-to,, anticipations, that quarter.!, ht .least iof -tlio States will liavo seen the back of. the" (lepres-. sion. Least favourable opinions come .from the East, where business is moving very tardily. Generally speaking, however, the harvest operations ari being pushed forwiird with comparative . ease by. reason 6f a good" supply tof labour, due to ii large extent to i the number still out-of regular employment in. manufacr hiring industries. These out-of-works are- be.ing pressed into the service-ef agriculture, and are only too glad to avail : themselves of tne opportunity of, spending a feiv Wc-eks iy .the, country districts after tho" sl'ress.' of "the last, nine months. "Dun's K4view,"^writing"upon the condition, of .the iron aml steel trade, savs I that the outlook continues to. improve, 'each week bringing out a few more contracts; specifications are also coming to ■ (he -mills liioro , freely. Several idle plants have'rcst)incd,valt.hough ill some cases on ;short time and., .with limited forces, but production; js-.-'cloai'ly-riii;*.-creasing and wage-earners lire receiving-., money. It is true that_ further concessions" in prices have Men niade necessary, in order to obtain.contracts for pig-iron'at-Pittsburg, bat a fair tonnage was sold. .. .At, .the finishing mills the seasonable tendeiicy to 'ciirtailYojrt;. put is being felt in the tin plato departmeiit(.. which has for some time fitr'excet'ded all .other sections as to percentage of-active capacity: Tliore is still much business on "hand",-'but"the past week has witnessed the closing of" several plants. Oil the other hand, .sheet milk.: are more active, and the- rtmsbn.tiS uiiusually .good for wire plants. iMpre'.-iiiquiries.-.firev noted for steel rails, especially.,,for exp'oV;t.—' "Financial Times."

The Customs revenue collected at-Wellington yesterday amounted to J!SGGI ISs,, lid.. .'. •T v

LIVE STuCKji-pj»yijES. Messrs. Abraham and Williams, Limited, report on their JolmsonvillC'sale as 'follows:—'Wo iiad a full entry of bullockuibf prime quality, i>ut lighter than last we<skr,and. more suitable for the season. Beef m«f|s 2-ts. ~to 2Js. Gd.; best bullocks, X!) ]7s. Gd. tq-- { £10jl0s,-; others, is to .£9 15s. A heavy .yarding of sheep, including some extra prime, ewes, came forward. The sheei) market was not-very keen. Wethers made from lis. to 17s. !)d„ j0_,185., / Bd.; Ijglit, 15s. Gd.; owes, 17s. Id.; others, 15s;'lit. to IGs. Id.; stags, 13s. 9d. to lis. , v 7d. Messrs. Dalgety and Co'., Ltd., report.that at their Morton sale yesterday "they- had: a vory good yarding of sheepi:iiiiidia snioll entry of cattle. Small hoggets-.llftdej.Gs." .JUdi, r .. : 7&., Bs., Rs. Gd.; mixed hoggets,-fls-jd^- 10s. 4du 10s. Gd., 10s. 3d., lis. lOu.; 6mi^r,tw<j>Ttooth.,wet6brk

lis 2<1.; fat and forward ewes, lis. Id., lis, 5d.:; fat civeSjJ2s, Gd.,;l3s. fid.; mixed wsaners, 18s, G<l. cows, .£4 10s.; mixed yearlings, «£2. A total .clearance was effected. There was a good average attendance at Messrs. Abraham and Williams and tlio- JSew Zealand Loan Company's stock sale yesterday (writes our Paliiatua correspondent), and a fair to full yarding of both sheep and cattle. Medium hoggets, in fair condition, made from 7s. 9d., 9s. lid. j well-grown, good-conditioned, lOs. Id., 125.; empty.Qwes,. Bs. 3d.; full-mouth, with lamb at foot, lGs. Cattle: Mixed yearlings, 17s .Cd. to 255.; yearling steers, 495.; fifteen months, 415.; two years, 4Gs.; heifers on drop, 905.,' 100s.; in profit, GOs., 905.; springing, 80s., 100s;; springing cows, 100s.; cows coming profit, 10s., 605.; store, 155., ids.; eighteen months' Shorthorn bull, 425. • WHEAT AND FLOUR. (BY TELEGRAPH —ritESS ASSOCIATION—COPYRIGHT.) London, October 5. The wheat and flour afloat for the United Kingdom .is. U855,009 quarters; for the Continent, 2,050,000; Atlantic shipments, G91.000; Pacific, 40,000. SILVER. , London, October 5. ■ Bar silver is quoted at 23 15-16 d. per ounoe standard. LONDON WOOL SALES. Loncon, October 5. At the wool sales prices were very firm, with a hardening tendency. MINING NEWS. NEW BIG RIVER. (Br TE LEG It A I'll —I'RF.SS association.) Rcefion, October 6. The New Big River Company has declared a dividend of 2s. 6d., equal to .£3OOO. STOCK EXCHANGE. (DY TELEGItAI'U—I'IIESS ASSOCIATION.) Dunedin, October G. Stock Exchange sales:—Golden Bed (two parcels), 9s. 3d.; Wiiihi Grand Junction, «C 1 1.13. Jta„ jßl"i7sv'«£l 15s. 9d.; Notown Creek, 18. 1 New Perseverance, Is. Gd.