FINANCE AND COMMERCE.

Dominion, Volume 2, Issue 338, 27 October 1908, Page 10

FINANCE AND COMMERCE.

V ~THE SHAKE MARKET. Sales;,-were reported yesterday of Westport- ' Stockton'.Coal shares at 10s. 3d.,- and. Taranaki Petroleum at Bs. The market was quiet, and there were no great changes in the quotations. Bank of New Zealand' shares ,were in demand it ,£B, with sellers at <£8 7s; Gd.; National Banks, sellers £5 Is.; Equitable Building shares vere easier with: sellers at .£10; Wellington Trust and Loan, sellers £7 75.; National Mort- ■ age,-sellers £3 Is. Gd.; Christchurch Gas, ■ ; ellers <£9 "165.; Port Chalmers Gas, sellers £1 Is.; Wellington Gas, ,£lO paid, buyers -£15 12s. Gd.; National lnsurance, buyers i£l.7s. 9d„ sellers .£1 Bs. 6d.; New Zealand Insurance, sellers £3 12s. Gd.; Gear Meat, <£4 paid, sellers X 9 165.; ,£1 paid, buyers £2 95.; Wellington Meat V Export, £i paid, sellers ,£5; New Zealand Shipping, buyers £& 10s.; Wellington Woollen, "sellers i£3 55.; Westport Coal, buyers. ,£6 95.; sellers .£6 125.; Westport-Stockton Coal,-buyers 10s., sellers 10s. Gd.; Leyland-O'Brien Timber, ' sellers £1 2s. 3d;; New Zealand Drugs, sellers £2 lls.| New;, Zealand Cement, > buyers .£1 75., sellers''.£l Bs. 6d.; New Zealand Paper. Mills, ' sellers il : 3si; Taranaki Petroleum, buyers 65., sellers Bs.;-. Ward, and Co., brewery shares, ' buyers : M.lss.-."' / . ;.. ■ '' THE MINING MARKET. No'salef were reported at the meeting of the Exchange yesterday, and the quotations .were as under: — ~ ; : ■ . Buyers. Seller's. • £s; d. £s. d. Wailii Grand Junction 112 3 112,9 Wailii ... ... ... 816-0 819 0 Talisman ..; ... 118 9 119 6 Tairua Broken Hills 0 2 4 0 2 G N.Z. Crown ... ... -r •0 4 1 .Big: Eiver ' '113 6 , , - THE; HEMP MAEKET. The hemp market is dull, and. there does not appear,-.t0..b0 any-immediate prospects of animprovement. For October-December shipments the quotations have been steady at <£25 15s. for good fair, and .£23 for fair grade. ' The. belief that supplies from Manila would decrease does not appear to be weir founded,'for the figures furnished by the High Commissioner of the weekly output for the past seven weeks compare as under;— . 1908. ' Bales. Sept. 5.„ ... ... 24,000 Sept. 12 ... ... 21,000 Sept. .19 ... ... 30,000 Sept. 26 12,000 Oct: 3 ... 19,000 Oct. 10 ' 26,000 Oct. 17 ... ... ... ... ...'IB,OOO The average for the last three weeks in September was 21,000 bales, and the same average was maintained in the following three weeks:' Fair current Manila hemp was quoted a two ago at <£23 155., and the latest quotation is .£24. Obviously the market can uo with more Manila, and the advance in price will stimulate production. The quotations for New Zealand hemp, do not leave much of a margin'for the miller; in most cases there is no margin at all, consequently we may expect to see a curtailment of exports, which is bound to have a detrimental effect. -Deprived of sufficient supplies-manufacturers will turn to other fibres, and when New Zealand is again able to export largely it will be necessary to again exploit the market. The Customs revenue collected at Wellington yesterday, amounted to .£6325 10s. sd. LIVE .STOCK SALES. Messrs. Dalgety and Company, Limited, re- ' port:—At Waveriev, cn'October 22, we held a horse fair. Exceptionally rough'weather interfered with the entry. ' There was a good at-' tendance. Bidding was slack, but we sold a fair proportion. At Waverley, on October' 23, we had a good yarding of cattle. The sheep entries did not come forward on account of the rough weather., There was a good attendance of buyers, and a good clearance was made at : satisfactory prices. Quotations:—Waverley horse fair: Unbroken horses, light to medium sorts, JC3 ss. to <£16; broken lorses, light to medium harness, <£10 to .£11; hacks, etc., .£4 55., <£6 10s., to £7; hoys' ponies, <£8 to .£lO. Messrs.'Dalgety and Company, Limited, Palmerston North, report having held a very successful sale of surplus horses on Saturday on account of Mr. James Cainnion, Okirae, Fordell, and the L. Laurenson Estate; also a few outside entries. '.I,'here was a very good . attendance, and the GO horses offered were all disposed of with the exception of two, one being tho carriage stallion Special. Tho hulk r>f the entry , were three-year-old unbroken light draughts and spring carters, and the balance was made up of a few saddle and harness horses, and one draught, mare, broken. Quotations:—Light, unbroken horses, medium sorts, <£3 2s. Gd., <£3 155., .<£4, .£4 155., to ,£G 10s., better sorts, in same class, .£7, £"! 17s. 6d., .£9 55.; to .£10; three-year-old spring-car-ters, ,£lO, .£ll 10s. to <£12 12s. Gd.; three-year-old light draughts, -JE12.175. Gd., ,£l3 2s. 0d„ to .£l3 10s.; four-vear-old light draughts, i!ls 55., ,£ls 155., Xl 6, .£l7. .£lB, to <£18 Gs. A particularly nice fonr-year-old unbroken gelding realised <£20 2s. Gd. Broken horses: Hacks, £i, £a, £S, A' 9 7s. Gd., to .£ll 155.; harness horses, <£13 15s. to <£19 10s.; 1 draught maro, - broken to all work, .£3O. Waverley—Heavy fat cows, JCB; forward empty cows, .£3 15s. to <£4 25.; store cows, '<£2 125., <£2 155., to <£3 35.; springing cows and heifers, .£2 lis. Gd., <£3 10s., £A, to <£4 45.; forward empty hoifers, <£3 Is. to J3 45.2-year, steers,: <£3 3s. Gd. to .<£3 10s.; yearling heifers,",2Bs. Gd.; cull heifers, 205.; cull yearling steers, 285.; cows and calves, £3 to £3 75.; grade bulls, <£5 to <£G 35.; others, <£2 10s. Gd., <£2 175., <£3, £3 10s., to £i. ■

WELLINGTON FRQDTJCE MARKET. , Messrs. Laery. and. Co., Ltd., Wellington report wholesale prices ruling on the. market Wheat- fn'""! ss. Id, to 53. 3d., broken 4s. Gd.

to 4s. 9d.; oats, 2s. 6d. to 2s. 10d., seed bats 3s. to 3s. 3d!, algerian seed oats, 3s. lid. to 45.; maize, 4s. lOd.. to 55.; crushed malt, Bs. 9d.; fowls' barley, 'Is. 9d. to 45.; horse beans, 4s. Bd., all at perbiishel; ricemeal, <£6; flour, New Zealand ill 10s., Australian. .£lO 15s. to ill; bran, .£5 10s. to .£5 155.; pearl barley, .£l9 10s;; peasr.partridge 4s. 9d., prussian blm 6s. 6d., fowl peas 4s. 7d., split ,£lB 10s;; bonedust, ,£G; superphosphates, to £o ss'., guano," JSi 10s.; chaff (oaten-sheaf), £5 to £5 55.; oatmeal, <£12 to £12 155.; potatoes, table, £5 to £5 10s.; New Zealand' seed(Up-to-Dates), <£6 10s. to £7; molasses fodder, X 6; bacon, factory;'.sides, 81(1.; hams, 9d.; rolls, 9!d.; butter, bulk, prime, IOJ-dl to lid.; poultry, hens, 3s. 6d. to 45.; ducks, 7s. to Bs.; turkeys, gobblers, lis. to 125,; hens, 9s. to 10s.; cauliflowers, Gs. to 12s. Gd.,sack; cabbages, 3s. Gd. to Bs. sack; fresh eggs, Is. to 'Is. Id.; cheese, 6d. to 6,Jd. per lb.; loaf, 71d. per lb.; Akaroa cocksfoot, lOd; ryegrass, ,4s; 9d. to ss. Gd. per bushel.

MINING NEWS.

TALISMAN CONSOLIDATED. The Talisman Consolidated reports as follows for the fortnight' ending September 5". 1908:— No. 10 level.—Dubbo Section: The trial rise at 1470 ft. has been advanced 28ft., total 53ft. width of reef 24in.; values, nil; stopped. Tho trial rise at 1720 ft. has been advanced 47ft.; total, 62ft.; width of reef, 2ft.; average of assays, 2s. 3d. The No. 11 rise has been advanced 15ft.; total, 71ft. width of reef formation',18in.; average of assays, Is. . No. 11 Lovel.—South Drive: Advanced 50ft ;• total, 1519 ft. No change to report. No. 9 Crosscut: Advanced 45ft.; total, 276/t. Ground shows no change. No. 8 Crosscut: Advanced 45ft.; total, 79ft. No change in ground. No. 13 Rise: Advanced GOft.; total, 73ft.; from 13ft. to Gift.; average width of reef is 3Gin. Values average .£8 17 Gd. 'Prom' Gift, to 73ft.; values averago 2s. 3d. for a width of 48iu. Tons sent to mill, 210. Stoping: The rise from stope north of No. 12 rise has been advanced 17ft.; total" 221 ft.; width of reef, 48in.; average of assays, Bs. Bd. Connected. Tons sent to mill, GO. The rise from stopo south of No. 5 rise has given Tallies tin, i average 12s. Tons sent to mill, 128. The values from No. 2 Bonanaza Block Stopes (north of No. 5 rise) average £5 lis. Tons sen: to mill, 50. The values from stopes over 12 winze average >£6 4s. Id. Tons sent to mill, 138. i No, 12 Level.—South Drive: Advanced 25ft.; total, 838 ft. Ground slightly harder, and now stands without timber. Stoping: The average of assays,from the No. 2 North Block Stopes is 18s. 9d. Tons sent to mill, 200. The assays from No. 1 South Block Stopes average 18s. 3d. Tons sent to mill, 203. The aSsavs from stopes off No. 5 rise average £2 12s. Gd. Tons 6ent to mill, 200. Tho assays from stopes off No. 12 rise average ,£5 Gs. 3d. Tons sent to mill 20G. The assays from East Vein Stopes avorage £2 7s. 2d. Tons sent to mill, 326. MINING IN FIJI. (BY TELEGRAPH —PtfE3S ASSOCIATION.) Auckland, October 26. The New Zealand Industries Company, Port Street, is in receipt of a cablegram from Mr. Percy Baslev, Suva, in which he states that the mining laws in Fiji aro passed on a satisfactory basis to New Zealand, and it is desirable that anyone contemplating mining operations there should be early m the field to exploit the metals known to exist on the Islands. STOCK EXCHANGE. (BT TELEQItAPH—I'IIKSS ASSOCIATION.) Dunedin, October 26. Stock Exchange salo:—Pactolus, 10s. Gd. Dredging stocKs.—Alexandra Eureka, buyers 25., sellers 3s. 9d. ; Chicago, buyers 9s. Gd., sellers lis.; Electric, sellers 4s. Gd.; Enterprise, buyers 25.; Golden Bed, sellers 9s. Gd.; Hartley and Riley, sellers 175.; Manuherikia, buyers 10s., sellers 12s. 6d.; Molyneux Hydraulic Company (dredge), buyers Is., sellers 2s. Gd.; Muddy Creek (ex div.), buyers 205.; Mystery Flat, sollers 405.; New Fourteen Mile Beach, sellers 55.; New Roxburgh Jubilee, buyers 55.; Rise and Shine (ex div!), sollers 325. Mining stocks— Barewood, buyers 12s. Gd., sellers £1 7s. Gd.; Talisman Consolidated, buyers <£1 195., sellers £2; Wailii, buyers <£8 165., sellers .£9; Wailii Grand Junction, buyers <£1 12s. 9d,, sellers <£1 14s. Investment stocks—National Bank, sollers .£5 Is.; National Insurance, buyers -El 7s. 9d.; U.S.S. Company, buyers .£1 14s. Gd.; New Zealand Coal and Oil, buyers Is. Gd., sollers 25.; Jlosgicl Woollen Factory, sellers .£3; New Zealand Drug Company (<£2), sellers £2 lis.; New Zealand Portland Cement, buyers <£1 7s. 6d., sellers XI Bs.; New Zenland Portland Cement (new), sellers Bs. , WAR OFFICE INVITES TENDERS. The Department of Industries and Commerce has received from the British War Office forms of tender calling for tho supply of meat forago and dry grass to the troops in Soutli Africa. These tenders are to be delivered at the District Headquarter Office on January 7, 1909, in tho caso of meat, and on January 11, 1909, in the case of forage and dry grass.

niGH COMMISSIONER'S CABLE. ' The Department of Industries and Commerco has received the following cable from the High Commissioner, dated London, October 2-t, 19081 — Trade for all classes of mutton has been very slow, and prices are barely maintained. Plato mutton, which is in largo supply, is quoted (it 3Jd. per lb.; Canterbury mutton is quoted at 'Id., and North Island at aid. per

lb. The lamb market is firm, with a good demand for prime Quality. Stocks of lamb on

hand are light. Canterbury brands are quoted at sid., and other than Canterbury at 5Jd. per lb. The beef market is steady, and stocks of New Zealand beef on hand are light. Hindquarters aro quoted at 3?d., and forequarters at 3Jd. per lb. The butter market is very firm, and thero is a good demand. Shipments by the s.s. Mamari arrived in good condition, 1255. per cwt. being realised for this season's make. Danish is quoted' at 1305.; Siberian, 1125.; Australian, 1225.; Argentine, 1205.; Canadian, 119s. per cwt. The cheese market is quiet, with little doing, but good feeling prevails for forward delivery. Canadian makes are quoted at Cls. per cwt. The hemp market is dull, with very little business doing. Good fair grade on spot is quoted at .£2G; fair grade on spot, .£23, fair current Manila on spot, October to December shipments are quoted as follow:—Good fair grade, ,£25 155.; fair grade, .£23; fair current Manila, per ton. Last week's output from Manila amounted to 18,000 bales. Tlio cocksfoot seed market is quiet, and buyers arc not keen to do business. Bright clean 171b. seed is quoted at 85s. per cwt. THE FROZEN MEAT MARKET. (NY TKLEGUiPH—PEESS ASSOCIATION—COPYtttJUT.) London, October 25. The Frozen Meat Trade Association's Smithfield market quotations for the undermentioned classes of frozen meat are based on actual sales of not less than one hundred carcasses of mutton or lamb, or twenty-five carcasses of beef of fair average quality. These quotations are not for selected lines, but for parcels, fairly representative of the bulk of the shipments now on the market:— Oct. 25. Oct. 18. d. d. MUTTONCanterbnry, light ... ... i\ Canterbury, medium i 41-16 Canterbury, heavy 3} 3J North Island, best brands ... 3J 3f LAMBCanterbury, light 5| 5| Canterbury, medium 5.J 5 7-1G Canterbury, heavy if 413-16 Dunedin and Southland ... 5j 5« North Island 5 5-16 5 5-16 BEEFNew Zealand, fpres 3 3-16 3J New Zealand, kinds 3J 3J RIVER PLATEMutton, light 34 3.^ Mutton, heavy 3j 3J Beef, fores 33-16 3jf Beef, hinds 3} 1 3} COLONIAL AND OTHER PRODUCE. (BY TELEGRAPH —PRESS ASSOCIATION —COPYRIGHT.] . London, October 25. Rabbits.—Market very firm, especially for young. Hemp.—Market quiet and prices unchanged. Copra.—Market weak. South Sea freely offered, and fair business was dono at .£l7 2s. Gd. for ibags. EightVthousand five hundred tons DccemberJanuaiy wheat sold at 335. lid., and 6000 tons by steamer (February-March) at 355. 6d. THE METAL MARKETS. (UT TELEGRAPH —PRESS ASSOCIATION"—COPTRTG HT.| ' London, October 25. Antimony, £d 10s. Copper.—On spot, .£6O 17s. fid.; three months, .£6l 15s. Tin.—On spot, .£133 10s.; three months, .£135 ss. ' Lead, ,£l3 Gs. 3d. MINING SHARES.

(BT TELEGRAPH—riIESS ASSOCIATION— COPYRIGHT.) London, October 25. Buyers. Sellers.

£s. d. £s. (1. Waihi Grand Junction ... 111 3 113 9 Wailii 815 0 817 G

WELLINGTON SHARE LIST. I " Kcsorvo og T ... b IBICES. Yield fOMPANY Capital Fund and 5 a " "S-S __ t 0 wHt Aflti ' Pftid Ull !{B.1nnnn lity pOI d-H —' , _ , la,a u »- gaianco ■' * j „ Investor , Forward. snar0 - w g Buyer. Seller. Kalo . banks. £ £ £ £ * a. i b. a. i s. a. £ b. a. New Zealand 0 mo 00(1 £04,097 , 71 1n 800 876 8 10 0 400 - - - 'MH g il J g 5 0 9 5 1 0 6 1 0 51810 .INSURANCE, national ... ... 100 000 219,339 . ji 1K 1 7 9 186 176 591 hew nealand ... aMor VMM * 9 Jo SJS • »M # »" ® «' } bouth unuab ioo.uxi 615,6is ? it t„ 213 u 215 0 214 0 511 1 bwmuard ... ... ... ... •« vs.OUU l-a.awi | gj Jjj 123 126 12 b 6 13 4 FINANCIAL .Equitable Building\.. ' ' £ 0.000 48,242 n 10 10 0 0 1 iieu'opoutan uuiiuing W.liW) 5 n u ; \i euuitfiun Invest. go, 000 WW 10 , « r . 0 116 011 6 5 4 4 Wellington Trust and Loan -. loi.aao 44,i>4 4 5 o 770770586 hauou.il jilongaga • ... UIO.OOO liV.VW Jj |j 10 300316 is-!., ana hirer i-iate ... £U),vX*J . J niI 110 9 111 6 111 0 5 3 3 iM*u and jueiuunum .... ... lio.'isl bio,!*! 1 i>s 5 CAS. Auckland ... ... jso.370 £6,463 , nil 17 „ uuriaiunurcn ... „. 1M1.000 Lo.'ji? ° nil 10 9 16 0 9 15 0 5 2 0 1 eliding ... li.ftJO • M6 .•» nil ... 019 6 itibuurue , ... 17,bU0 10,665 | nil J33 2 12 6 2 10 0 5 10 0 bawera ... ...; •... bjao UU \ 5 10 r-iymouth ... ... 18,000 'Mil > nil 10 Hapier ... ... ... 1 0 nil 15 15 0 0 ,. „ ... ... ... f 49,957 £3,184 " 6 15 ' 3 7 6 4 12 4 « »• ' ... ... ... ...... J 1 y 15 / taiuieraton North ... ... .» '£7,7E0 U.093 44 $ 10 7 10 0 760 G30 .Wellington ". 1*1,570 Vi.'itio m nil 10 15 12 6 16 0 0 15 12 6 6 8 0 % • » "• I , o o 10 ' HEAT. Canterbury j83 j 27 S2.686 ,j H 6 712 6 turistonurch ... jte.ttiO '/7.bii '» nil 8 9 17 6 10 0 0 9 9 0 8 0 10 : bear - I injuoo UM 1 nil 125 2 9 0 2 10 0 3 9 0 5 2 0 ■V?"ellington'ilea'£' Export ~ ' * ' nil ™ 015 0 « 'g 1 ® g g § o - - 105,766 47,050 ® r 8 5 0 0 3 0 0 7 0 0 Aanganui" '1' 45.650 8,646 'f nil ® 3 ° ° 5 0 0 ' TRANSPORT. - '1 W. and.M. Eailway ... „. J70.C00 121,453 , f 7 21a 6 215 0 2 12 6 2 13 4 k.Z. bmpping 47i).Md, y nil C 6 10 0 6 10 0 C10 0 6 3 1 uuiou bieam ... ; ... uAMMI iMfu.1 x nil 9j 114 9 1 15 3 115 0 0 8 0 \i£Ul bteam ierry ... ... ... u> u ij 017 -6 COAL. ' (Vestport ... .. ££0,000 1S7.431 ,i jj 12 s s { g 612 0 6 8 0 6 16 9 iauvn -. ... ... ... ... umm u.i»o y nil 7 | WOOLLEN. ; . - \ Kaiapo' „■ ... lOO.COO 32,£54 -S . nU 7 fc-osgiei , ' ... W.457 17,-il-i u . 4 3 18 0 3 0 0 Wellington • ~ ■ ...I - ... WrfSB 4 i 6 300 350 926 7 13 7 MISCELLANEOUS. ' 1 '■ ...... ." I ' . • ■ Donaghy Eopa ... w „ E3.EOO 181 1 . „n , 6 1 0 0 1 2' 3 Leylana and OBnea .... 70,000 37, ml • 1 nil 15 1 a q 13 9 8 Jlauriceville Lime ... 7,000 315 1 nil 6 - 100 h ,Z. Candle ... ' „ „, 10,U*J Mt) 10 n il 8 llruga .... M ... «, [LO.UjO SC.'ibU u ■ nil 7 n o c G11O m r 630 k.4. fapcr llilli „. „ • 94,775 1,6to 1 JS| 7 ? 2 g 1 3 n 1 h.Z. Cement ... ... ... ... 60X00 2,04a 1 nil ... 170 186 180 Manning and Co. ... ... 16,000 i.U'10 4 1 10 . ! 3 17 6 3 16 6 10 fl 2 Ward and Co. ... ... ... ■ ... tO.KJO. i.4,o4tf" 4. . 1 30 '-4 15 0 4 17 6 415 0 8 8 5 JVgtn. Opera House ... lb,630 l.'/i» 5 nil Wgtn. i'resli food ... 16,ail ■ 1 ■ nil - \*nitco,inbe'anaa';mb3 ' ; '40.260' 30.153. 24 ..Jj. is 4 S'6 410 6 ■ ... ... -58,013 11,724 1 nil 7i 019 3 The'above quotations' are taken from the daily official lists of the Wellington Stock ' Exchange. .