FINANCE AND COMMERCE.

Dominion, Volume 2, Issue 325, 12 October 1908, Page 10

FINANCE AND COMMERCE.

• i ■■■ .THE SHARE MARKET. . At the sitting of the Exchange' on Saturday Bales were reported 6f New Zealand and River Piate at .£1 lis!,' Westport Cool at £6 Bs., and ■\Vestport-Stockton at 95., 95.. 3d., ?s. Gd., and 9s. 7d. ' Bank of New Zealand shares -were on sale at ,£8 10s'., | arid National, Banks at £5 25./ Equitable Building,-sellers ,£lO 2si' ,6d.;, -Wellington Trust and Loan,' sellers £7 7s;; Wellington-De'-' posit, sellers 9s. 2d. ; New Zealand. and "River' Plate, buyers ',£1 10s. Sd.;;'Christchurfch Gas, eollers £9 'life;; National Insurance," buyers' '£1' 85.,--seller's' 8s. 1 Gd.'; "Standard Insurance, sellers J!1 2s. 6d.; Wellington Meat Export, £5 paid, sellers £6 lis.; £4 paid, sellers <£5; £2 12s. 6d. paid, buyers >£3 os. 6d., sellers X 3 Is. 6d.; Manawatu Rails, buyers .£2 lis. 3d., sellers £2 12s. 6d.; New Zealand Shipping, buyers -C 6 95.; Wellington Woollen, sellers',£3 55.; Westport Coal, buyers «£6 75., sellers £6 95.; Westport-Stockton, buyers 9s. Gd;,' sellers 10s.; Leyland-O'Brien Timber (,£1 paid), buyers. .£'l 2s. 3d., sellers .£1 45.; New Zealand Drugs, Bellers-o£2 lis.; New Zealand Portland, Cement, Bellers >C 1 Bs. Gd.; New Zealand Paper Mills, buyers XI 2s. 10d., sellers £1 3s. 2d.; Taranaki Petroleum, buyers 45., sellers 65.; Sharland's, ordinary and preference, -sellers £1.. THE MINING MARKET. No business was done in this markit on Saturday, and the quotations were as under:—' - . Buyers. Sellers. ' £ s.' d. £S. d. Waihi Grand.-Junction ... 113 0 113 6 Waihi ... ... .;. ... 9 i 0 9 2 0 Talisman ... 119 6 2 0 6 May Queen 0 '2-B'-- —' V New Zealand Crown — 0 4 2 Tangiaro ... 0 0 11.0 13 Big River ... ... ;.. —. - 1 15'.0 INDIA'S HOARDED WEALTH. No one knows what the hoarded wealth of India amounts to, or the rate at which it is accumulating, but from natural curiosity'about' the facts, financial writers have attempted to estimate them. The late Mr. Henry Dunning" Macleod states in his book on tho Indian currency that persons of the highest ■ authority estimated this wealth at .£300,000,000 ;• and lately it has been calculated that the hoarding averages eleven millions sterling a year. As to' the fact that hoarding is generally practised th'ereis no doubt whatever, and both gold and silver are hoarded, a considerable pait of the'silver' money being converted iiito jewellery, and other, ornaments. \'.... V Sir Ernest Cable, who knows India and itspeople very well, puts forward the suggestion, lii. view of the Government's want of capital for railway, construction in India,,that a. com-, mittee of European and Indian financiers and-, others' having special knowledge of local conditions and circumstances should be appointed, "to endeavour to ascertain to what extent, and by what means,, the Indians can be induced .to invest their savings in State or industrial enterprises." ' The Indians are not,. speaking generally, a commercially-minded people, and' it is therefore probable that many of those who are the ;possessors of the hidden wealth -would: find it very difficult to appreciate the object of' such an inquiry made at the instance of their foreign rulers. There is little reason to suppose that they desire to part with their money possessions, or that they are likely to believe they would be safer in others' keeping.'

' THE TALISMAN CONSOLIDATED. • The report for the fortnight ending October 22 states:—No. 10 Level.—Dubbo Section: The. trial rise, at 1-170 ft. has been advanced 9ft., a total of 25ft.; width of reef, 24in. Average of assays, £4 19s. 3d.' The trial rise at 1720 ft. has been advanced 3ft., a total of 15ft.; width of reef, 30in. • Average of assay, .£1 7s. No. 11 Level.—Stoping: The rise from stones; north of. No. 12 rise has been advanced 59ft., total 204 ft. Reef wider than rise. Values average -CI 2s. 6d.' Tons sent to mill, 200. Two rises are being put-up from stopes south of No. 5 rise;, values from same average 255. Tons sent to' mill, 105. The assays from stopes 1 north of No. 5 rise average £b lis. Tons sent to mill, 53. No. 12 Level.T-Stoping: The assays'from No. 2 North Block stopes average ,£1 Is. 3d. Tonscent to mill, 200. The assays frqm No. 1 South Block stopes average 9s. sd. Tons sent to mill, 143. Thei assays from east vein stopes average .£1 9s. 6d. Tons sent to mill, 418. The Tallies'from leading stope north of No. 12' rise average .£l9 19s. 4d.' Tons sent to mill, nil. No. 13 Level.—No. 12 rise has been advanced lGf't., a total of 168 ft. Reef wider than rise. Average of assay. .£2 12s. 9d. Tons; sent, to mill, SG. Crosscut west at 466 ft. south: Tho trial rise at this point has been advanced 4ft„ a total of 19ft. Width of reef, 45in. Average of assays, iIG 19s. 2d. Tons sent, to mill, nil. Stoping: The average of assays from stopes off : No. 1 north rise is £2 Bs. 4d. Tons sent to mill, 152,' ; TRADE. 11 ARK PIRACY." , The "Osaka Jiji," a Japanese journal, publishes a remarkable story concerning piracy of trade marks as related by a certain dealer in sundry articles in Osaka. Every article which sells well, it ia averred, is imitated. The perpetrators of the forgeries do not confine tnemselves to occasional piracy of trade marks, but, they mako .-it their. profession. Indeed, tlioy do not consider the forgery or imitation of trade marks nny < offence. On the contrary, they look upon it as an excellent profession so they openly speak of thoir malpractices without shaine. The only fear they have, according to their own declaration, is the discoverey of the practice before they made made a good profit by placing the imitated goods on the market. If they escape early discovery and are able without interference to sell the goods even for' threo months, the profit thereby obtained allows them to look lightly on a term of three months' imprisonment, should they be so unfortunate as to. bo brought before a law. court. To ; pay. an in-, damniti- or'publish an apology is also' a com.

paratiyely oasy penalty in. view of the profits made. An apology for the infringement of., a.--t.r#de mark ;does ■ appear _ occasionally.' in the'newspapers;-and the outside public . may, imagine l that the offenders feel disgraced. • But • 'as; a' matter.- pf. fact, they are 6nly( too. pleased at being able' to settle", the. matter .instills way, for "it mi excellent' advertisement. By the"publication of the apolo'gy'the names of the offenders become known to dishonest merchants in the interior, and. the forgers soon receive application? from 'such merchants suggesting the imitation of such and such an article which'"lifis" a ready sale. Thus the publication of an apology provides an opportunity for. a repetition of the offence. Moreover, it is known that even business men of supposedly-high standing finance the industry of trade mirk' forgery and obtain a good profit therefrom. The "Osaka Jiji" urges that ntringerifmoasure's should be taken to suppress this disgraceful profession. The Customs' revenuo and beer duty collected at Wellington last week amounted to .£18,370 Bs. Bd. and .£216 12s. respectively, while the corresponding figures for last year were:—Revenue, JE1G.697 14s.;'and'beer duty, .£204 Is. Gd On Saturday the Customs revenue collected amounted to =61207 17s. lid. ' PAHIATJJA SALES. (bt TsuoiurH."—srEciAi. cormEsroNniNT.) ■ ' Pahiatua, October 10. At the mart sales to-day there was a fair attendance. There was only a moderate yarding of pigs, and a small yarding of poultry. Prices .for.the former,■ though:'good,'. l showed a■ slight decline against last week. Weaiiers, 16s. Gd., 205.; stores, 195., 255. Gd.; poultry, 15.,6 d.,' Is. '10d. each.-No entry of ducks. Chest,nut. gelding,'eight-year-old, brought Jill 2s. 6d. FBILDING MARKET REPORT. Messrs. A. H. Atkinson and Co., Ltd., report:—On Friday, we had a full entry of pigs of mixed clashes. Bidding was brisk, and the yardingwas cleared'at full values. The poultry offered was again not equal to the demand, the prices obtained being'. to vendors. .: An-average" entry of produce sold, at ilate'rates. „^Quotations: —Horses, aged.-horso, ■lis. , Pigs:iWeaners, lis.; 14s. 6d.,'.165. 3d., 205., 20s. 6d.; slips, 18s. Gd., 205., 245.; . stores, 235. 6d., 255., 355. 6d., 285., 30s. 3d.,, 315.; porkers, aOs.-, "395. " Poultry: Hens, 2s. Gd.,'2s. 7d., 2s. Bd., 25.. Sd.;. roosters, 2s. Id.; 25,.6 d., 2s. Sd., , 25.: 9d.-: ;ducks,-, 35,;C turkeys, hens', 4s. Gd.; gobblers, 95.,'95.'3d.', all at each. Produce: Potatoes, eating, Bs., 95., 10s., lis., lis. 6d. per sack; pig potatoes, 4s. ; horse, carrots, 4s. sack. DREDGING. (BT TEDEOEAPn—PRESS ASSOCIATION.) " Dunedin, October 10. .:-Dredging returns:—Rising Sun, 560z. 2dwt.j Punt, 2302.'4divt.; New Trafalgar, 41oz. sdwt.; Waikaka United, No, 1, 220z. 2dwt.'; No. 2, 246z>'3dwt. '. . ... i- •. Dunedin, Octobor 11. : Dredging; returns,:—Rise and Shine No. 1, 520z; 4a Wt;; Qhicago; 270z.; Muddy Creek, 230z. 14dwt.; Golden Bod, 21oz. ldwt.; Enterprise, 190z., lfidwt;; Molj'iieux Hydraulio, 170z.; Itise and - Shine 'No. -2, IGoz. 17dwt.; Alexandra Eureka,, lloz. 7dwt. ' '

. .. .. . TOKATEA MINE. JBT TfLKGUAI'H. —Sl'EClAt. CnRIIESPONUUVt.I Auckland, October 10. ■ The manager of the Tokatoa Mine, Cororuandel, roports . that 'the total picked stone from No. 1 leader lodged in the bank is 151b., worth about loz. to the pound. Since the last parcel came to hand the quartz broken down from the-same leader shows strong blotches of gold. A start has been mado'' to take out tho first stope in the No. 2 block north on Woods's leader at th'fe tribute level, and here, too, blotohes Of gold can be seen in the stone. NEW ZEALAND CROWN MINES. (nr TULEGRAI-iI—PRESS ASSOCIATION.J ;■ Auckland,, Octobcr 10. An official message from-the, manager of the New Zealand' Crown mines states 'that, owing to the limited tonnago milled ; during September, the clean-up' has boeri deferred until October 31. ■ ■ ! ' NEW. BIG RIVER. ' (BY TELEaiIAI'H—I'RF.SS ASSOCIATION.) Reefton, October 11. ' The mine manager of the New Big Riger reports that during tho week stoping has been continued on the eastern and branch reefs as. usual. Eastern reef: No. G stope, reef 12ft; wide; No. 7 stope, reof 10ft. ;■ No. 8 stope, reef sft.; No. 9 stope, reef lOin. Branch reef: No. 6 stojie, reef Ift. wide; there lias been no work in No. 7 stopo this week. No. 9 winze: In the footwall portion of tho wiitze the reef continues broken, but in the hanging wall there is a solid body of stone, in which gold iB seen. Driving in the north and south ends of No. 8 lovel has been continued, but there is no change to report from these faces. No. 1 level: The winzo has been retimbered for n total depth of 48ft. from the floor of the level; water has boen bailed out for a further distance of 12ft. No. 7 level is tfcing Topaiied. During tho week 110 tons of »<o have been raised.

WELLINGTON SHASE LIST. •' . • • * Boon ■ a'sViiiiii 1 ' HB&BS,-'"-. <"•' viold: rnMPAUV ranltll Fund and a a .ft'"': M£ . : . ( 0 • • . - • COMFANb. . . . .. paid Up.- Balance ' '--Last'' Investor ' Forward. ".. -g .Ewcr.j : Seller. ' ';'.. BANKS. ; ; . £ ' £ " ' £ £ - B . a._.£ is. a. £ s.'.d. i c.'d. Ilew. Zealand ■ ~ ~ .«'■*• 5,000,000 '' ' £0i.097 Si " 10 8 "7. 6 1 S10 - C - 8 10 0 ! 4 0 katlonal ... ... ... ~ ~ .>75,000 bta.Sda 81 15 • - .6 0 9 : 5 a 0 - 5 / 1 ' " 5 . 181 ® ' " " INSURANCE,'. " V vs-'k ; Rational W - 100,000 : .MM39 15" 18 0 '18 6 I 7 jj '5 0 1 kew Viealaad_ ... ' ... ••• - y».oo0 ■ -Mfili j 8 10 »•»..» 2 }i 2 ! J ! 5,? } bouth British ... - ... - 200,000 " M3.6HI f -A so 213 -6 ?15'0 I » 0 111 bwuuara - ~ . vs.ouuj | .si,; $" .;i t.o J « 6 ,. - 6 . FINANCIAL. ' .V.' ' • < v - - - ■■■ Equitable Building E0.000 . 18,243 ■ ' g - j0 ' ' M-2 6 : Builiung. ta.ux) M* •' •« nil- 7 n 11 r 'rii 6 ,'i 4 Wellington Invest. £0,000- ■ ■ kuO' » ' j .j ■' . J " „ n MS Wellington'liust and Loan ... ; . im.ioO H&i i 5'' \g 9 770 5 8 6 'Kauuuia iiorigago ... ' iOOjOOll I'/i.Wti 'J" a' 10,3 ° 0 ?,? 5 •« v. 1 J,.z,. ana ttiver riato too,000 *SM« J nil e 1:0 8 1 u . 6 J , S 5 ,i i Mau -iuta -kareantiw «> '••• vtb/ca M»4*) 1,- ■ ts ' 6 \0.'4 .3 010 11» 1 ■CAS. - - -= ■»'! : v ■ Auckland .... ... ... "• 1E0.370 [6,463 ijil - 17 1610 0 15 0 0 ,,5 10® Ciil'istcuurch . .... ■ It*),000 IfcuT • nil 10 016 " 9 6 2 7 ieilOliiC ... ... " '"-.la.OuU ' r . 'nil- .. 010 6 _ uiouoruo ... ... ■ ... «•' ' I7,bt)0 lC,it>5 J u il 2 32 C 210 0 , fi 10 0 iiu.wera • : ... .« b,is6U K 1U ixew iriymuuth 18,OU) .* nil 10 A '. ' » ■ "T | - 15 0 0 4 t-almerstoiTNoftb 2 '.•••' £7,000' 11,092 1- ; j. 10/ ,7',6 ,.t -1 6 0 * 6 3 3 f. -1010 0..: : HEAT. ' . Canterbury „. ... :: 163 '; T2r .. £2,666 ' i V '':-cj, • fi : -712 6. ' . . . Lnristonuroh ... • »• . r .. - les.WO IS -'nil 6'- ..-10;Q 0 . . . ' ttor ....... " ; ..., n |i . 13J 2- 0 0 2 10 0. ,3 0 S ;5 20 .Wellington *Meat Export .... ... •• 4.-'. Jj 916 eil 0 : ; ' -. ••• - ■ I 105,766 '■ 47,050 ■ .j .' -, 8 " ' - - 5 0 0 l-• '- :' ~ J . - », ; S | 4 V; 3 0 .6 3.1 6 300 7 0 0 . ft angular . . . . : • ••• ••• 46,r25 .- .'8,616 *■ - m i- ' 5 0. 0 . TRANSPORT. ■' W.'aiid II. Railway,,... . ... ' ... ; - no,C00: ■-121,453- • 4 - 7 jjrs -212 6 ''2 0 - 0'' kU* 'bmppuik-: i~ . ••• - . liu.iuJ J ..nil, 1 - 5 . 6 .0,. o-t.io 0 0 '6 3'1 tiiiou bieaiu, • ... ..: ... uu,WJ .ioi.uit .. 0j il » 9. 1 15 3 ,115 0 5'.:8 0' V>gui. McttUi Fei-ry ... ... -yJ.uJ '. "w "J' ' L u' (j ' - : (,1T 6 : COAL. •- ' '' L • "■ . - '■ ■■ '. ' : 6 10 0 6 26 7 2 10 Westp'ort- ... - .EEC.COO ' •'127,431 3 i. ;jj -jgj j'j 0 -.6.9 0 6 8 0 7 0 .0 . 'iaup'ti ;... .... •-... '... •... .., { -s.nj|. .74 . .1. .. ; 7'"' .^WOOLLEN.'"' , : ( . .... Kalapo 1 ... . L.' _ ... 127.765 32.654 5 n ;i 7 ■ . -kotgia », ... »• ta.457 . Mrfii bj , ,ij. j.... , . , - - , ' hrellington ... - ... ...- H,(i25 ' . . j. 6 3 2 G 3 5.V0 1 . ' MISCELLANEOUS. ' Eonaghy Kope ... £3,£00' 161 -i n il 6 ', 1 .3 0 ' ■ Leyuina ana U'Brien ' ... 16,ax) - - ST/.ui" .1 u ji. 15. ,. 2 7 6'' . ;■ K&uriceviile Linie ... 7.COO 3i5 1: , . „ii 0 ' 10 0. ' hJt Dandle ... ..... lu.UX) ,t7i iu ' nil . .b. ' •:? ■ S-S- ¥. rugs imiV ' iCWXX) '* ' flii ; ' V ' * 2 '" 9 ' :c 211' 0 C11 [ 6'3''0 . MX Vapor Mill) — „ _ • £4,775 11 ■ nil"' 7 " i""3 : i0 13 2 • NX Cement ... it.tOJ,. i.ua . .1. ; nil - ... 1 s 0 1 8 6 1'8 0 : ' ' Manning and Co. ■ , U.lOtJ Ujfkl . i ",1 10 . . 317 • 6 3 16 .6 10 0.2 i Ward and Co. ... ... tO.wu : tijAS .4 .1., 10 . 414 C \417 I 4 15 0 8 8. 5 Wetn. Opera House ... ■ ... . ... ib.tao l",Vl» 6 nil ' 124 ' ' \vgtn. Fresh Food ... ...; ... is.itt • ....- 1 ' nil' • •' ' Wuitcotubt) iina 'Icnibj ' &,?»'.• .2J.462 25 •. Qj- 15. 4 8'6 : 4 10' O •" v bnarlaud, Ltd. ;.. ,_... ... .... j.. 1 • n u- 7i • : ' i' o 0 / The above quotations arevtaken from the daily' official.'list's of the, Wellington,'Stpok , "V • : - '" ' Exchange. .