FINANCE AND COMMERCE.

Dominion, Volume 2, Issue 400, 8 January 1909, Page 8

FINANCE AND COMMERCE.

* THE SHARE'MAEKET-* ; ■ Tlie share 'market rather: yell yester- .•- day , the - business done was confined 'to a single : Union Steam :at 365'.;- 62!;. but the number' J orders. gives i promise of. activity. -Bank shares .were in demand.. -Now JSfcalands - ;^V.and Nationals' at'; t £s. .- Financial shares, opened quiet.' .-'■^Equitable;'?.- Building, v', sellers ;■ WeHingfonrTliiustilmdjioan,. sellers .^7:76.; iWellington ; Depositj'sellers 95.; Loan, and' Zealand andßiver' v .. Plate, buyers: .£1 lis. 6d, ;; Wellington Gas, ;■' -paid,>byyers'dEl6 12s. 6d; r ; iGslos. paid, buyers -Ell 100 , new issue, 30s paid, selleis .£2 5s , New; Zealan'd Insurance, . buyers £3,145. / Gear Megt, ,£4 paid, buyers .£9 16s.'; .paitlubuyßrs r- ..£2 95., Meat Export M 2 12s. 6d. -paid'jt.buyers ,X 3 25., sellers 3si; Hanawatu,ltail9, .buyers-, -; <£2;. 13s. 6d.; New; Zealand . '"buyers ! ... .£B-12s. 6d. ;. Union. Steam, buyers Jtl lGs. 3d, : i sellers JEI-jlßs., 9d;; .Wellington;-Woollen;'?ordin-; arj, sellers ,£■} Js.; W #cport-Stockton Coal," : ' «Wer6 95.,; sellers -? er ' fellers' ;-ja • 3s;; 69. sol-. I leis. £i 35.; . New Zealand Portland Cement, V^iyera.£l;Bs.;;Tar'anaki Petroleumy-buyers Ss.y . J . sellers 7s. 6d,; ordinaryiand>prefer? | ence, sellers 19s 4 ~-.'\ r rS : : ;'" K 'Vi?; :>Uu:'. iiiiriK; -'->Sv-'.'v i~.! THE MINING MAHKET" ,n " " '- j 6ale of Talisraai.at ,£2 3a. 3d. was made were as under yy ;. IKS" ! .Buyers. H SSjsJi -■'■-■■■fK-'-- k- : > -'dfiis." d. «£ s. :d £ s/d. Talisman .. .. 23 0 >2 3"'6 "2 3" 3 : Waihi Grand'Junc. ,7 — 16-3 '• i Wailu . 815 0 816 8 — May. Queen... •... 0 111 02 1 ■■ —. N Z Cionn . ... 0 3 6 0 4 0 — Tangiaro :.... . ... ; — l',o O. i* Sig Enei 110 0' *1 16"0 ' — THE MARKET Writing withi' respect to the prevailing mone-' tary.oonditions/-the "New Zealand Trade JUW ■ view," .issued", yesterday, says-,—"Our.«es.port', season is now in 'fulUswing.;;,^The - weather conditions have . been, on the whole, propitious, and produce has, been* cbmirig/forwArd foi'.'shipment in good conditio^, 1 and earlie'f '&ai iisu.£.' The' tables. of monthly 'totals of-exports: of our; mostJmportant; products show: ,thatethe' r ;ship-.- "' ments from the Bominioii to December .3r are . substantially in exce'ss of those dispatched to'i .the same, date in theTpreceding year;?- 1n.,w001, the."excess Ms nearly! 16,000 bales;' in biitteir,.' over 57,00 P boxesin cheeselnearly 28jOOO cases; :;■ ;in i frozen- muttan; . oyer , 100,000 '-.carcasses; -in. • lamb, nearly 35,000 circasses; and in?b'eef, over 13,000. quarters. .} 1.. . . "This, c ;by-.the way,> isiiuft'instaicef misleading ; fluctuations to, which export statis--s;;tic s: for. a; period: ending with December 31 are liable, owing to. the' r erft?'diffore'n6e ; ?ca'u£e'd"' by, - the; comparatives-latenessVor'iforwardness' of tile season. at.that date. ' . ; ' v, ' - . " These .heavy, snipments bring,.- of course, a supply of moneyinto the''rinar-'- ; ■ Let,; . and; result in a' measure of, ease, .but .'-it; remains to be 1 seen whether this will be pefinanentybr temporary.'^The' ; March .'quarter is iv theViniportaht ,period '.in' New,:Zealahrt exports;- ' ; .the' Walue. of shipiljentsj-'in/ thatSqiiarter repre-' - . far,'from'..one-half of the /whole .. twelvemonth, and when-.we see the result of our- - v.;trading ,to ..that -.date .-we shall know • better Jiow we stand. ; ; v; '

: Meantime, the various quarterly'return's''to: .December 31—returns -of banking,/inijorts,-: ex-: jorts,; and Customs revenue—will. be . lopked !for.. ! with cpnsiderable interest- forithe-light 'they Mouldrthrowi the situation.'.'The limited' extent to. which money can be raised on security of landed, property places a 6 erious check on buildiiig operations,.''and'causes , a;,slackness m .that 'branch of industry, -as well as -in the sile .of- such'^properties.-. This co'ndi-i faon,is npt.likely to -be. materially. relieve'd until, wa-see a better proportion established between . the;-values.'.of ; the; imports, and exports 01 tiiO:JJoiDiiiion; 'v, : ; ; ?

HOULDER BROTHERS The report of Houlder Brothers and Co.j Ltd ended, December, 31, .1907, ..states. /. tr- ; fl tter paying.- the - fixed - remuneration of r'flie- managing :dire'ctors, ':the^nrofit; s ifor - ;.,.;)mounts to ..Invesfmeiits(aga'in's"t%6sefve' v fund are: maintained ;thair: full value'' the' having beffl. fehajig&tXagainst' profit ; to.: provide: fotA* depreciation?. • arid • further securities to' that f ;'extent have been ...earmarked; ;..In -a :busirie&(6Kthis. nature; At ■; is - very unusual to : contract bM' debts. ■ The continued cul-S mmated I lasryear. ! in'the'ifailure. < of 'ianumber of shipping : firms. ' In.. two fcMc^fibii^compahf ■ has' loans outstanding,: on;..&cnrity.%'Kich-tils J directors-now .anticipate .will not'"bEsiijfifcie'ut >to, meet the loans in fun,;Snd : they-hitve "thereof ore'.created avspecial xesffio fund of- .£lo, : t>!«*' to meet any possible deficiency. . .After providing for the. payment of debenture.interest -and .. preference dividend,:, there; .lemSihs 'a.-siimA.of ij The directors..havs'fcdfrsidered it"p'r,u- : dent to. further strengthen! .'ijf ■fithe, company, and; thereforfeinntead'of'prbpbs-: ■ mg ' that "this. profit be' dißfijihiitod -by Mray^o'f l :'. .jurth'er remuneration, to HKe' mahapng'dil'dc- , jors and dividend on ordinary.shares/ they- re-' ;; : .:iomniend::that .the' whole'TVif :the..amount''.h'e'' .Iransferred; to. the general'l^eryes{of;th'e : .com-' ■;: ■ )any, thereby bringing exclusive *.-i »■'"the -mentiohediiiibo'vei. up to - :tlie/.vrabstnntial. figure of • ffoulder. and. Mr. :.T. P. TCfPorreker."iesi'&edi ; ■ Oieir seats . on the board JJIf;- : /rank H. iHoulder has be4melected'tetirseat' the board, with the offife<of- chsfrm!i'n« ; 'arid' /liis been appointed, a ': «sue of ■£50,000 of ordinarvv'shnfe'capital (being .': jart of the increase of' iMOOO in the: f capit'al thy company,. snnctionfd at-.;Uie-' extraor- ; • "iinhry meetings held; on J.!)'he..2ft J and-'J r uhv'l3H ; i Jast) was 'fully 1 subscribed, i ■>ias now been .received' by the company; j

KOTES., . - ■ The cost '■ of .•alumininm-.rhaving now been brought„down to^th'at:,ofVoopper. '(both.'being ;inthe vicinity of/£6O a,ton), "The-,Times" points - out - '.-','transinissipn'.'.the. formerhas,; many ( exceeding' the : two' metals'wdr,-be;';iO&,-per ! in , aluminium-for the it-has, ; ;als6j an: advantage ?of- i3.'per. : ceni... where tern- 1 .jerature.: is •„concerned.-f V.'^liigether,''-.it; is. ' claimed' that; - there ; are.; -veW - distinct advan-;' tages in using tlie lighter metal', -i.', Siberia, is'losing. its bai-Vnfrae.v • - More than ; 500,000 ;'persbns : -voliintaHiy ( ; ffom, '■European'; Etissia"to. Siberia.. ia:1907,'; and of, thig f .recjrd-bre'fdcing niimberrjfewer.'than'ever Jjefore arriving .'.in'. Siberiareceives thirty-s6yeri'abres>.pfjaiid free, paying ' 'MbJ , .®&*thß\ffi^'i'lhj^*y»i% r< 'ai»dromyllialf; theiregulttr.:taxes''foi'. : th6'next-.:three. ' - Sanaina : Canal' Commission has published figuris" which' show that , the. canal, will Since . May 1, jl9oVVtherfl yj>^«sbete.OT(iavated*.Bß,7Bß^93'J.cnbio. :'there remain,, to,.- bev taken; out. : f '%2ll;4oTi'yaTds.'^Slth: ( ougH remains'- inucH-. ' ;.mo"re''^lian^"alf ; ''of Vth'e .* excavation •• to:,be; done, ; 'futute.^peritidns'-per'-tnohthf will ; be-much: more - '■f'i'i'A : -igrelj ni in t csj;ima^ey ■■ p f j:he; total' prodnc-" tfqn?oQ-J&|)a^,»in>iwft9,%itcd^Sfates.i'.iii,''''l?oß;| pla'ce 1 ? .'the" "crop""at" - ,as against .;6?B,l2S',ooo]br.fflS : >9Mo7J?'thuS:-indicating, ai'■ :fc .CTpase ,nf, ,<JSi4?2;QOO> liii i9:Bj .per j cent. , The - ayerage' production, - for .five; t years : has: been; 722,744,0001b. . of -the' reduction;, at- : anyrate;,,.is. .combination-, of "growers produce,av.saflrtaie j ..'| rjVUfii i' '■'/ y '' ; ! 1 1, . rsiyenye^pUeicted'at Wellingtonyesterday amounted to- JE1723. 0s; sd; . ' f, "JflU MEXAX- MARKETS. (BT TELEOnATn—rRESS ASSOCIATION—COrtniOHTI t London, Jan-uary-6. ' •'Cppper;—Op',tJ)e;-;sp.pt„ J!63 18s.- 9d. per,: teii;' three r;-. -.-■Tin:—Spotj-VidSl ISsS per. tonj three-months^ Lead,'iSl3-6s; 3d.. -•-•-• i - - 23jd. 'per',"ounce. .; : ...... .r.-p. '■ !i-- ■ tallow sales; -;;; j;' (ny TELEasArn-rui'ss association—corYiUGHT.) ■ y .:■ ■ .1 London, January 6 - ," At the: talloit sales: 1225- casks- were', offered , and. 550-sold. l.PriceS''Wero;..uno,hahged.. : WHEAT. -v-The'-American -'-visible- supply of, wheat eaet of the: Kockics is estiinated 'at - 84,895,000 bushels. i ;V ;' ;;V>' : BANE' SHARES; ;. ■ .'x ;/ :V;.The .quPtatipns 'are unchanged.;. ,V : v , V ';.'-.;.-HIDESvM,VBKET.. . January,. 8,. 0 ; 50. a.m.) : Melbourne, January 7In. the,hides'market-prices iwere firm .'at late .-.rates';^Supplies.are', moderate. . .. FROZEN MEAT MARKET. < (DY TZLEGItAPH—I'KESS ASSOCIATION ) ' Napier, Tanuary 7. '. The C.C.'- and: D. Company cable 'that frozen meat -prices 'are, unchanged: . ' v , AUCKLAND WOOL SALES- : f (Ut . TBLEGKAra—ri'.KSS ASSOCIATION.! .. 1, - ,1 .. Auckland, January 7The second, wool sale of the Auckland season will be opened on' Wednesday,"when a catalogue ,;65p0..bales'will,: be submitted-, for competi-'. ■ tioni ' This': is; the'dargest Catalogue ever. ottered in AUcklanjd.and is an increase iof not less than: 1415:.bales-,''on- : the -quantity cataiogued at 'the Januaryr'sale.'lastV'yeafi.

* Wellington' 6h"abe ' list. CanitaI PKind SS ,; : ,„«1ICES.;,. y: C ] COMPAST. WiW Ba]ance g lity pei §5 ' " ■ , to • ■■: v.: "/ ':: ; : S :t A" Forward. Share, • Lart -- Investor V ; /: ■ i : ' £ '& £ £ £ e. d. ill £ 6. e. £ s. d. K:,t(aIlona? ,an —^ . uuuonai ... .... „ .. ... SVo>00a .w,w £ lo 13 5 (, 0 5 5 0 ..... :^T; - ;• - &V. 15 J. .7, 6, I 8, 0 .1 B 3 5 6 2 ' i 2 8 . : 10 .3 11 0 3 15 0 3 14 3 5 7 :9 Btaudard . ■ 1. <4 SO 2 7 0 2 8 0 2. k 0 6 5 0 oiauaard ... ... M . io.ww r - -Br nr 1 2 9 ' 1 3 0 1 2.6 613 1 FINANCIAL. ' V< : V-'--A,rV. 7, S?i tabI r. » u iidins.... ...: ... £o.oob 'ft® ' 5 .1 : .ft -v 10 o o 10 o o too B ui%g.;>-y-';; r -UjM)!I#* nil 7 - "v , ' InvfiSt.; .1. •' '.... LU.lAXi • , ; h . L' ! '< - n"n'*'ft "■ r 11' i> rm* Q r ft 8 "; WelhnBt°n f T ru 3t and Loan .... J -vj ; r o 1 7 0 5 8 10 N^onal^ortgaga-•. •- ">W. •* Vu -• an' n-?n o hi i- | .and liiver. Plato .A... s .».. ; cuj.uaJ • " , nil •"' T 'll'Jn iii i *26 . , Uan and awcanuiu ... , ... . \ t, "V 1 6 J 1 *.] j| J J , § ■'■■■• - 10 0 • . r -■; , >SsS :• trK ?■ < w-: ; > : ,- V... .^a n "' S °" V : ::: : , 7£0 V lu 0 . 7 io d •"••• ; ' : , '■'■••• ■"»■■- >» .. >"' . "• " ;••• ; iiww .... io n "j io i6i2 6 ■• -v-t; "' - ' : 1 ', • . 6j :« lu mo o 11 7 6 11 5 0 413 4 . ; H E AT. /;: y;;. A.........■■'■ -■ v 'Curi6tchurch * '. v ™ ■:153,727 , 74 : - * 6 8 0 0 '. liear ,, "' ~ . . w i .til: (, jo ,10,0 1015. 0 : : ' . ■ '" ™ [ u,ouj ij6;;yi. 1 w| 124 «■ 9'0. ■■"■■'■'■'• '■ « • '' '■ .»elliucton Meat Export .v !" • 4 »)/6 0 y :_: . ; '; . .. ~ • "•• | 1C5.763 47.C50 j J- '• * .. 5 0 0- ■•■•■" . Baneanm J" ;;; > u . Zl-. j . 3 2 c 3 3 0 '.. . . ■ transport. .v. • " v " ; ' W'.andM. iiailway ... '*■ ,rn rm 1214si ■ „ '• , . ' k.Z. bttippiBR ... : l'O.COO lfl.4". 1 (■ 7 513 6 214 6 • ■ ,•- bieam • "' b ..nil . ei -bm 6 , ',J; : . ki stii.•• bMuioaferrjr "i' v u"~". Us i.is' 3' vl 16 0 v 116 6 5 i 1 . : ?■' > M..WJ ' w 1 Lli b ■ 117 i, 'vtii '. r-- :v| 'f • "3ft •&'jiH 'i® S : as ft o i > 617. 5 6 7 3 - Mdiwei ~ ■" "T ' ico'cbd' : . 'iiik. . • 5 &;,&.* , : l' : " r ,..' Wellington" " W.J57 .17stiB . ; 34 _. 15 ..5. 217 0 .v"''.: ■ ; .: : r* ':::v V:'.."'.' '.« lv,u ? i ' ' 4 i t 3 l' 0" 3.3 0 '3 3 6 7 13 7 hiscellaneous. i. J :■', ; ,' r i,--, -i'- : ' £?ylana y w " • h' !3 %°i ,-/,161. I,.-, nil. ,6 :i;;l 10.. : 'V V;:UauriceViile Lime ! fhil : i \2 9 a .3.6. -1,3 0 . 610 5 . • N.Z.-Drugg. ' i"'" T - 'j-'tiV'/ 1 .IV, . Jill - '.;6 ,j j' :■ •;•; •; * . '• . "i ;5W 5 .-I:N.Z.' Cement * •• • -fi*'/! ,vv -•. , <!niV 1 "' •- j- *l' • 9 ; v l '2"0 ; • •..; • . '.J r.1,8. 0 :,l» v 0 a:.8 : 9; : / ;4i9 :°; 63 " 6 ' 6 . 0 0 8 f°: : "•' 3 . id 74'8"6 410 6 '• . : 1 . 58.013 11.724 . 1- , rii ft .0.19 ,p , . ., - The above quotations aro taken from/tKe;daily Wellington Stock .' .' ':V : ix ;.cv'.Bichange. ■ .' -\v'^V