COMMERCIAL.

Dominion, Volume 2, Issue 339, 28 October 1908, Page 10

COMMERCIAL.

THE SHARE MARKET. At the'sitting of the Exchango yesterdays a sale of ■ Wellington Gas, £10 paid, was made at .£15'155., : and sales were reported of NewZealand and River Plate at .fl lis. 3(1.;. .Wellington Meat Export, .£5 paid, at M 4s. ; West--port-Stockton, at 10s. 3d.; and Taranaki Petroleum at Bs. For' Bank of - New Zealand shares buyers have:advanced their bid to 2s. Gd., sellers holding for ,£8 7s. Gd. National, Bank,. sellers i£s 15..; Equitable. Building, .sellers .£10;.; Wellington'lnvestment, sellers lis. Gd.;. Wellington Trust and Loan, buyers £7 2s. Gd.,. sellers ,£7 75.; National Mortgage, sellers AT Is.; New Zealand and : River Plate, buyers lis.; Loan and Mercantile, buyers 4s. 3d.'; Christchurcli Gas, sellers .£9 10s.; Wellington Gas, .£lO paid, buyers .£ls 12s. 6d., sellers 16s.;' National Insurance, buyers £1 7s. 9d.y sellers JCI Bs. Gd.; New Zealand Insurance, sellers .£3 12s. Gd.; Christchurcli Meat, buyers .£9 17s. Gear Meat, £i paid, sellers. X 9 165.; M 'paid, buyers .£2 95.; Meat Export,, £i, paid, sellers £5; Manawatu Rails, x buyers .£2, 12s. Gd.;-'," Wellington : Woollen, buyers.. ; .£3, sellers i) 3 '55.; West'port Coal,- buyers JIG 95.; Westport-Stockton Coal, buyers 10s.; Leyland- | O'Brien 1 Timber; sellers .£1 25.; New Zealand Drugs, sellers .£2 lis.; New Zealand Portland Cement,'buyers .£1 7s. Gd., sellers .£1 "Bs.; New Zealand Paper Mills, sellers =C 1 35.; Sharland's ordinary'and preference, sellers 19s. 3d.; Tara-. naki Petroleum, buyers Gs. 3d., sellers Bs. '. ' iHE ; MINING, MARKET. '' ' '" This market was again quiet yesterday; but the quotations show some strength; Both Talismans and Waihis were firmer, although no busi-". ness was done. The quotations were as under :— ' - Buyers. Sellers. £s. d. .C s. 'dl Talisman 119 , 6 2 0 0 - Waihi -... ' ... V ... ... -8 18 0 S Of Waiotahi' ... .... — 0 3. 0. Big River .; ..... ./. ...?. ... 111" 0•- . MUTUAL BENEFIT BUILDING SOCIETY.;'; The balance-sheet of the Mntual Benefit .Building and Investment Society of, Canterbury for, the year ended September 30, which' was submitted to the shareholders on /Mon; day. shows that, after providing for the payment of a dividend of 7 per o«nt. and a bqnus , of I per cent., and;adding..ssoo to the reserve fund,'a balance''of /W 10s. 2<T. remains to be carried forward.-,".The rijsiTvo fuiid.'of the (society now' amounts to ..£-1500.. The amount invested in loans''on Imorhrage and investment J. shares i5'.£112.401 18s.' 7d: 'The interest received from borrowers during the year totalled ■ .£7/12 18s. Bd. . - '• "'; ■ . LIVE STOCK'.SALES.T,< .. Messj#,, Abraham and Williams. Ltd., report on their • Jolins"nvil 1 esale as follows;—A .fnl.L. entry of bullock*-of fine quality mode up to 225. Gd.; best bullocks. £9 10s. to .£9 17s. , fid.', £■1 15s. to.! $0 55,: lightpr»'.c£B 7s. Gd. to £»' 125.« 6d. A heavy yni-din.tr of.jj'gs .sold well.Shorn '■ ewes.made '4s. '2d., 4sl lOd.-to 14s; 4(1.) shorn' wethers, lis. 8d., : plain, Ws.-'M.: woollvewes,'. ■ 14c. lid.: heavy wethers, 18s. 4d. to 19s. Gd.; others, 18s. Id.;'ewes and wethers, 17s. 9d.; lambs, prime,.l3'. to 145.; plain. 10'. to lis. Id.; 2-tooth ewes and wethers, small, 7s. : •

GRAIN AND PRODUCE. .(Br TELEGItAriI—PRESS ASROCTATIOX.I . (ihristchurch, October 27. The local,grain and produce market is lifeless. At present.' 'There; is some; wheat, on offer.*but * c»les arn'difficult as-buyers..and sellers' ideas of: value 'are 'still -several - pence different Both oats and chaff -ire dull of sale, the'exceptinnal rrrowth of "raw this spring having com. p'derably curtailed th« demand for other feed. There is onlv a hand-to-mouth busin»ss. doing ip; potatoes, and'stocks rre now in small compass. •. WHEAT AND FLOUR. (BY TELEGRAM—PRESS ASSOOIATION—COrTrtTnniJ.I London. October 2fi, The "wheat and flour afloat for the United 'Kingdom is, 2,080.000 quarters; : for the'.Contin-. . ent, 2.005.000; Atlantic shipments, 498,000 quar- ■ ters; Paoific,'lso.ooo. The total shipments to, Enrope were 1,425.000 quarters, including 101,000' from the Argentine and Uruguay. WOOLBROKERS AND BUYERS. DISPUTE SETTLED. (nV TELEGRAM—PRESS ASSOCIATION— COPTRtSHT.), .{-sads, .Melbourne, Octobery27i •>' The wool &ade trouble has been settled. The opening sale was largely attended. The new clip-isVbidly grown; but of :fine quality. Prices are on a parity with those of the Lon- . don but, compared' with last season's opening rates,'merino and fine'crossbreds were 25 per cent, lower.' ; The Customs revenue, collected at Wellington yesterday amounted to <£4739 7s. 7d. -: . ... STOCK EXCHANGE. ( - IDT TELIfGRAPH —PRESS ASSOCIATION.) Dunedin, October 27. Stock Exchange sales;—Waihi Grand Juncion, 345. ■ . -.» . ■_ - • ;,-•. ....-« THE WAIHI MINE. (BY TELEGRAPH,—SPECIAL CORRESPONDENT.) Auckland, October 27. A special-representative of the "Herald," .who who has just visited the Waihi mine in the course of a series of articles now appearing gives some very interesting particulars of the immensity of the reefs on the property. He says : "In one stope at No. 8 level the width of reef broken out measured 75ft.j and I saw oven more than that in some sections of the Welcome lode. Stoping was proceeding on widths. of -up"to 120 ft. The widest portion of reef , taken out in the mine so far went 140 ft., this being the result of the junction of the Welcome with the Edward.; ..Perhaps it will be more readily comprehended how , immense the principal ore bodies are in the Waihi mine when is stated that in many instances two parallel drives have to be taken along the lode on the same level, for the better facility of working the mine and handling the ore. In one section of the Martha lode, at .No. 8 level, Mr. Williams, assistant superintendent,' gave me ocular • demonstration, of a re"ef : so wide as to necessitate being worked ' by means of three parallel drives, one along the footwall, another the hanging wall, and a third the centre of.-the, reef, the full width of which was 90ft. for some considerable distance. Probably the mosf'impressive feature about the. mine, however,'-i& the evidence which exists in plenty of the immense reserves of ore in sight. To quote somo cases in point, at No. 8 level alone the" Royal lode has been opened up for over 1700 ft. in length, and for most of that distance it averages about 30ft. wide. It lias been widened out, and timbers placed in position the whole way 1 ready for stoping again; . The Empire lode is opened up for fully 1200 ft.; for which distance it averages up to 33ft. in width. The Martha reef averages 90ft. in width for 1800 ft. opened up; I also saw the Edward lode in the southwest crosscut at No. 8 level, where it was 75ft.-wide, assaying jglO.'-per ton-from wall to wall.. When it is taken, into account that these lodes are intact up to No. 7 level, 150 ft. vertically above, and,- indeed, still contain'ore at~-every level to the surface, it will bo seen that .in-them alone there are in the upper blocks, to say nothing of the blocks beneath (which will be available before very long) reserves of pay ore that may at least be described as large. It is somewhat striking to see.such vast: blocks standing.'untouched, being keptairitil they are wanted. Seeing what a largeisupply'of'qua'rtz'is ,'iMit. out from the mine -every dav,-it only goes to show howenormously productive the mine is that can keep up that output and yet have so much, to spare. Mr. Williams told me that at the end of last year " 'the .amount of ore . of average milling,value- in sight—that is, in and - above -drives or crosscuts—and not allowing for the'.blocks below, was about 1,300,000 tons. To-day;'that figure lias, of course, increased," I was unable to get an accurate estimate of the actual'amount, but a million and a'halftons is near the mark. ' What promises to addto the ore reserves is the now reef which I saw being driven upon at No.. 8 level, ; west of No. 4 shaft for a distance of 300 ft. to the'prcsent face. This '-stranger" has averaged from 4ft. to 14ft. in width, and yielded excellent values. I noted. the presence of high grade minerals in the ore at the face. Gold, by tho wry, is seldom if ever seen in even tho richest Waihi ore. : Mr., Williams is. now. prospecting in the level' abpve, to. try-and- locate this new reef there." v;. -- -, '■ .. . •