COMMERCIAL.

Dominion, Volume 2, Issue 432, 15 February 1909, Page 10

COMMERCIAL.

JSHMEIk|R^T,O?!i: I t-':'r' ■ : ; ,; ;S*-; v :.The-marketclosed dull on 'Saturday, 1 and 1 ho '>:;;;!business was recorded. National, Banks,"buyers, ?;-;.;'w£s"ls i ;,sellers i~£s : - Ze'a--;:;-?aand,' buyers* : Its. j/'Eqlitable," Building, j; ■;;' sellers oum'-rights-sto ■the" new-issue r v;. ■ •Wellington; Investment, sellers' 11s. 3d.;' Wel- :;*.-,--;:■ and' Loan;-sellers '£% 65.; .Wel-'VrS-'lington.Deposit;, sellers 9s'. 1 ; :Na,tional Itortgage, ;,.:! i i. ; :"Bellera £2; 19s.$i-Now.« : Zealand : ;Lban and'Mer- ■ ::■. ,:.cantile, : : b%yer3 i '2s,/ißeUers,'i3s. : . 6d.; Auckland ;, /.:-,Gas/ buyers X 14 , ,! sellers Mi 75.; Feilding. ibuycrs; £1 Gas, "ilO; paid, ..'.i:.; new'issue,.buyers 12s; 6d. pre- ■;.:>: •'■ 'iriium; .Christohurch; Meat; Belleis i£lO'.l2s, 6d., l-i.-oriih -dividend; 'Gear; Meat, paid;' , bu'yers' ; ;;■.•; :jS2;los.;;Meat Export, y £i .paid,'eellers JES; £2 '^' , ■■S:^l&.' ; 6d. ; ;VpUd,■■■:■seUβlß■•■:£B.;:ls.■. T 6d;;■.■■'■•.■Ma'naTαt■u ■i.KjEailsV.buyers ■Us.'-'Gd;';%Wellihst6n r .Woollen,' >y vbuyersv^3..ls.,: sellers- 25.-; ;Westp6rt-St6ck- : "■: ;•.,:;.ton;Coal, .Bs.'..Gd. : ; sellers 9s. ■ 3d.; Don- : ;y ; ;'aghy : •Rope , ; and Twine, ;seUeis^l9s;:6d.;tLey-: :K , ::4and-O.'Brien/Timber,''Eellbrs-^l.-2s.> , 9d.;.New s,-v- Zealand - Portland:, Cement, v= briyera' : . V 125.,: ;v::,€«Uersill4s. ! ;;Taranaki. Petroleum, buyers 75., .;.;:.'.sellers Bs. ii.Sharlahd's"brdinafy,> and preference, ■,:. 19so'"Wellington ;Presh^rood,filers 2s. ■s:^ ; f:i;^^^|HE;mN^G/MAEMT/■ Ti :■V ■jf : ' A; sale of Mountain,King''at!■ Is. Id; 'was:'re;■;,:.ported,'and;a.;salo of .Talisman■ Consolidated' :■■'<■■■! at £2 7s.;3d..was;made on.'CKango.'. The'quo- ,:;:;; tatibns -.were as;under:r-T. ,: r , •■'..■.■.,....: ;, ■';.■■. .•;;.'■ '<-"'."■■: ; - -'!!:';> .■■:.'*.-::;•■■:", '-','iC- vßuyers. -v'Sellers.:.■ Sales. , '^■i:' : -f v-'rf':-;': ,, -:.- 1 .:;■:. .;■■& s. d.-'-jes.'d.- £ s.;d.; ;; -.rWaihi ; G'd ; Junction '■'■ — '■: '1 G\o ; ■•■: —:. '.•;':■'■. ttalism'a>'if::-' r '.i. ■■:■■.•■:..■'■ 2■7. '0 -2 7 9 2 7,3 ■ - • ;-Waihi-v t . : .. : ."i : "-'^.-'-9'.- , '0-i0'- , ?-i9ji-. , '0.v.-"r ■;—:%•/,■. V.^ , ,:N.Z.. Crown ... :' ; :.;.^o-4.^5:;.P,;i4,:^;:;-;r-'^ i : , Mountain<King ■ .;.:■ 0 -1 0 ; .;;• —::■■■<-' 0 1 l ;. Consoli'd'JGoldfields;■■ oiliiO.-. , '--,•'— 'l"-'-\, — ,',-'. ; : v.'Bie;Eiver«v:-.;.-c , : ;::a-13 lOji ;&:•;': ;';/:;S:'i/ : M v'The^balance-sheet^-of,the'^^Westport.Coal:Cbni-:. " ■:, pa'iiy, for.-the yearj ended Si;" , 1908, : . :■ ;> ■is:;yery.'sa,tisfaoto'ry,, i and: it ,is obvious that t.:) this company iiasnotVsnffered , from tfite , mining ■ ■.γ-labburvtrdiibles:; that..shave caff ected-: otlier "conC :.v; ; ,cerns.:*Th> r profit;fpf the v :year,-*aft*r prbvids ■ ■:"■;■:ing.i'f6r. ; bad <and;.:.doubtful- debts, ''depreciation-,:'^:V,.'BndVaU/%cSar'ges>./amounts''.to.:'iii2i247-"'2sl'''?d'.,,,! is: Jgoodt r return''for'-a'paid-up :: capital;.: of, Toi.the profit , must be \.k'-; added:; : s b'fOught' ; ■■ : ;': I fb.rward.>from.:th'e ! -pre'vious ..an : ;; ■* available surplue- of;:£s2,ese-.75..,Gdi.- , .,The.di : rir ;■ .'-dend'at 10 ■pet:cenKiSfaiad.' , bbiitis';'at'.2} i ;per , V scent., absorb the sum.-of:: X7489'. 85..-is ! added.to:the r^r^fi^lnnd.-T'Jeaving-^O.lC&'lSs, 1 -! -.■:,-; 6d.; to_ be :.carrie3 The'-reserve fund'i •'•■';; ::..will now' and- the .'■insurance" , ;;'.-■ fund .totals -X62i007,135. 10d.' Among the assets ::::- 'there:is cash; in,bank, ' ':,! .: .The.Company fs-f very strong/ and\v; appears;to-:te;'doing;y«ry..well,".;, , ;:■',:■'/■;■; ,:>;;,;-;-. !: ; ; : -Austrdlian' :■,',■ -Widows Assiirane&Society-i^tdi l -: ,::..,;, covering the period t0..0ct0ber•"3i,,,1305,-'has :'.,!. beea. issued. .Dutirig.the. year, 3031 new poli■,,:,;:cies. assuring-iEG7s,237i?were'A-iEsuedf'and'Com- .-,;. Pared.with .■thei^r'e'TibusfJfear^Ms/was"' jiist ......: : about £4092 less.i.CThe'-..premium'-revenue -for'■' ■...,; the.year '17s.' -MJ,, against ;:r.;:,^93,3p9: ; 145.^d i ;y:iast^yea , rfeThis?isvih^fclt : ;•:; y«ar - in'. which.:;tl)e:\premiiun, revenue has', ex-" ;. ■:. ceeded two hundred'.t'hbusand'pbtirids.T The' , in-" 1 • : ,-,;.j£80,335 ,125., lld.y.ihe? average rale Beings c?W^^The"' ; total'; ! re%nue , was' :-:-v A2S6 580,75., being the largest revenue received- , ■■:-'. oy;the fiocietyJn t: any-iontf;ve-ar;--. , Tbe-6)afmsK'by .;•;death./ amountedii to? iE53,504' ■'; v u-^V-Sa.,-as;afgias,t ;^so,77G-is;: pfei l ;-;;.vious;year.^The;:aetuary i reports v that : the : ,; Vitality iexperiencaSis; only.:;SP'tper^centi^of"the .:^ :i expectancy,-and-morettlian^ustifi'es:the , eitra: ;. : t•^expensepyhlch;S^s : i■incurred^':'jn:.■:;tHe L i medical ' ~'• examination of'-oyeryiproponent.-:. '■-■ ■; paid:iii\cash sntrendered. , values.ffor-ihe vear-.^sv-afflountea,, r; £BlU:^3>=illd^ ; Swbich^is' smaltet ,amQunt i; p i aid< ! fbrvaVgreat..;mynV> '■' A'J 8 -? 1 Uf■f( , on y';43425,25.8d.;:.The, payments ,to: polioyv holders and.their Irepresentatives-for-the year ■>■ ?«% ; ■-'■• -..The laceunm- , ' ■ -..-.■» a :, -to ai,BS2ji36 45.,4 d./ -the■increase for : 'the .

:.■'■ '¥■:::- \-\ ; ; ! t A;;^, i;.;y k > l ew:Zealan^,iuverition'tha l t-is' , :}ffliv.to 1 ;S&«a,!te.SS'gij'^, ;, : A ; -jjart; of the v-ff ■"-'SSifvp™?? ffie '^ :? Z^«?Govert ? '■:■??.!;?; •£5.1)p0.y. i This,;,accident..set .-.Mr.' Pearson : result^The'' : SiHb'rhke'. ; ~euch ~as:.the ;; ; ;qacuum, : :or ;i iv ;,.;togethewby;hose-pipes.'in; such-tf manner that. .: they_:wiU:separate. withqut;injjiryj"and:6bHhat .Satho-separalion of. the:hoses wiU apply 'the teakes ,-,-upon both portions of a> train : :which;:has,bVld ■::;..■■ accidentally:,severed.)■;■; "It is,; however often •.l!.":aecMaty.- ; .hj: detachijehicles:without-applying -; ; ,-the brakes, and for this purpose "train-cooks s , .-;:-,,, ore supplied.- upon'. , ,the', brake- pipe,: which■ a- • lfe ter , olo fs pnor to:uncoupling the hoses/ •;■;(, II to; reopen .the> cock: after ; ■-.-;'. : thei hoses^liave:again , coupled" the" brakes, can--1;' S Je fT h " :partiof.rthe;. train 'rear-' -. -^'ward of the cock.. Alurther-risk in 'connection "' J ? tn « that'they can be , i >:,tamnered; i w,th: by passengers.,:,;. Many^indeed.: ,; .most,-of the - accidents, have; arisenvfrbni. this ... ; : human, element. .;■ To, overcome" this, difficulty, V--end;.to provide^a.fpiipler ithat'-iwoiild: :: v Berviceable;;.it Jiec'essaryv to"--provide-'fl);-'-a : .-..;-,:cpupler; : which,: if -sepaarted.by ■ the .accidental ; v .Beverance^f , train, ; Vould: leave, thelbrake-'-/.■pipq open and'apply/the,brakes','-;without.in-" ;.: WJ-ro a coupler which can-' . ?;. separated purposely without leaving the -,iv. brakejipe:closed.upon\bqth;partsVofithe : train; -":,■ an ?,: w.r-a , ' coupler; which*^canhottbe 1 connected ;;: : :jnthout-leaving -o ;- thisr 11- was lmpera.hve to , have 1 iJ, coupler: that : ;:; ; oould : existiny ; p]ant,;and'the ques- .:., hon of cost had also:to.receive.attention Jlr • .-■; -Pearson,, who. is.; £: railway:}engineer,, has in- . -■-.;:.vented;, a> coupler'that cbrnplies'-iwith-'all the' -:r, conditions, vMid; a ithree:. months' 'test- , ■;: tion of, the-rNew Zealand: Railways has proved .vv.:ltS:'usefulne^. i :; :,forined : pitentf :i:.:.:;;^LISif^'COgS^IDATED )^Ei^^ •:: Consolidated,-Ltd.^, for' the .ending v:.December, 26 h, ;1905,-No, 11 level: IWh driv! /l I, '"^Tanced/.asft.i-,,t()tal,-:'l7llft."-" , y^o''ehange' , - , in , •'-IS 1 : <,°-" 8 crosscut-advanced 23ft.'; total, ;-:.;-. 50bit.;. j .J,otchange^ , to: report.-. Stoping , ; The ~-assays fromistopes,off No. .5 rise average- Cs. ;,:..;Tons t sent.to;,mill > .:-285.'-: The stopesoffNo. 12 -,-.;;;. ■■ rise have given .values that average £1 135.' 9d : .-, y;. Tons. sent;;tp>raill,i3oo..> Theivalues. from- : east , ' j;; '•; : T em ; 9s;; .Gd. ■.. to' I ■■;£:" ■ No. 12':'level: ; 'South': drive. ! advanced ;23{&'; :., total, :1216fti;;.:.Grounds shows no particular : vchange.-; ■ :-The'-.crosscutteostward- at 1169 ft. has ;v:^been.,extended,:lsf(.,: total:;2lft.i without dis- ) ■ ■;, closing, anything of-.importance, ■. A few stringers : ,; .and.patchesjof low;;gra'de quartz were'eut; buf•■■;.■,.the:values.from;satae Wero.verr: low. "■ ■.:". '■ ...•,,.Stoping: The assays -from , •'stones , off No. 12 ::. rise ■■.nverage"-"JE3.,llsJ , '6d.- Tons sent. toinill,-200. 7, The. values from;stopes off No. , 5 rise average ,; ; Tbns.,.seut/'tb i mi11,;95.' TheNo; 1 south ■•' ■" y°°' c ■ stbjes.' have, given values averaging 15s; ;■:.;; V • : 'x'.,};},:; • V,;"}

; :-> ; -;: ; #OTES.;:"--;;;■;■}:;/;>:.' :< ■■:'■■■ The.general mariager' of the'-Austr'alasian'"de- , Vjartmcnt-of; the Mutual Life Insurance Gorai'.pany of New York has'received a,cable" mes.;''sage: from : New York' .which states '. that 'the new.insurance paid- for in 1908"-was 'Jl9,(ilO,bOO;. ;,: The,total income was £17,427,000;';paymentsVto;: 'policy-holders/ , were :■' .£10,874,000;' expenses. . ..£1,681,000; : and' divisible surplus,- : ,£2,277,000. . ; Th6 ; assets; at the close of itho >year .were v ; .£iiq,(«5 1 ooq.'" :■ ;:.f;.;:'' .^.; M ,;;i- -d : , r'-'' X : i ; ••/.Oii:.what;'asks .the 'JEcononiis't^do ,, ;the.six' : - million of 3jpndoners live, if >they 'don't live by V.taking.'in each, other's: washing? There : are - enough manufacturers 'ho. dbnbt to account for. . ; ; a number of.inhabitants,: but still i'for ;onlyVa' 6ma)l\'ifraetion of the whole. ,An- :.■ other fraction" lives on '.the interest on ■-invested, capital. But !tho'"Economist" holds ;""there is'no doubt at- all' that.the greater part of ~: this , vast-population. lives'-, upon the existence ; ■; Of: the ,of ;Loiidpn' as the great 'emporium' .;'.'of/:the world; ;and.tho great contre- r of-.-the -World's" cominerciat; and fmancialVcommuhica-' : • tions— in brief; v uppn the fact that London has 'free goods and free, But London is also '■< the-heart ofV the'.:United -.Kingdom; its legisla- : tiye .centre;)and.London' L lives because; there ;■ must, be'a centre^and , no one-has yet- estaj)'- :; ; liahed'a;betterlonei'f-'vv^-v;-/--...-;'.'-.;.■,.;■.-: ■fi'i&iy "•■ The final "estimates of/the, German harvest /"for 1908-showed very, big returns for-wheat arid '■-'.. ryeV . The wheat crop "was 'placed at 3,767,700 '.-metric tons,/'against 3,479,800 tons-in.l9o7,while ■ ■; '■'. the rye ■ ci-op .- was: -placed .at'.- 10,736,800 ■ tons, -'against 9,757,800,' tons."-. Thory'a, harvest :.was, the, ;largcst-evei':knnwnV, The barley .'crop'ivas not (so large as in '1907,' amounting tb'8,059,800 tons ■■:'. against''.3,497,ooo. tons i 'and ; the'.- oats crop .was ,-:. only 7,694,800..t0ns Against;.9jU9,loo!>tons.. which- ■•■'•: v.-as. the largest 'yield of oats.in the history of :s the country,•-'The' pptat^,orop;- ; Bhqwed ; ai.gain;

qOOO.OOq tpns.iaa total of. 40,342,000 ions. Cor■respbnding to the largo • harvests of wheat: and rye, the.exports of these grains since August have been very heavy. V : . . : : .' .

i;V,,:;; RETURNS., ■:: [■ ■■■■■ ■; .'JThb' Cns'toms revenpe collected-■;last 'week .totalled;:jCTCG'.7s;. lid.,: and the beer." duty amounted''toi~jE3iO- 10s.: 6d;'. Saturday's Cus,tpms return t0ta11ed.5312.45...6d; ■ :■ ~', U:'':';; HiDi3 and skin'sales;': .:■■■ ,■:.'■■ '"■: Messrs. J Dalgety' and Company, Limited, held \thejr; fortnightly,sale of. skins; .hides, and, tallow'.on Friday; whdh they offered 'a fair.:catalogue tbajood attendance of .buyers. " Competi'-' tion ,was keen; throughout the sale. '■.',..■" . Wool.—Only'. big lots were offering.}. Prices were , ', as ; follow.:—CrossbTod, inferior, 4Jd.: to 45d.; black, "3Jd.; dead, 31d.; pieces, 2ja.;. looks, lid. t0,2Jd.,. . ■ ■ >>..;';. -.-.-.: ■■ ■ Skins.-K)nly greoh. lots offering. Pelts, Gd. •to Is. "Cd.;'lambs,.lid. to Is. 10d.. : ■■. ■•■-;' ■; ■^Hides;— No"prime lots offering. : Competition was good, especially for co'ws; :Prices- were:— Ox, 52 to 1571b., s}d. to;6Jd.;' 89 to Mb';, s?d. ■to'sia. : :!'slippT,-3Jd. to ifd. . Cow, 40 t0.491b., 53d.; 28'-to 361b., ;' 5Jd. to s|dV; cut, 4d. -to s}d. ;• slippy, 3d. to 4fd;; stag, ■571b.,'.4Jd.;. slippy, 3M' Calf,: best, - B{d.;'medium. GJd. to 7jd.; inferiori 3Jd.; to Sd.; yearlings, sjd.; .cut,; 4|d.. ..-■ ,Tallow;—ln -shipping orderi 235. Gd.; in oilcasks/.225.: (Jd.;: in tins,2os. 6d. .. ■ . .', .. > MARKET. .;■ " ..■'...,,' ■ Messrs. A. H. Atkinson and Company, Ltd.; ■report-large'. , entries-'.in "all departments, with the.exception 1 of pigs, which fell- short .of re-' quiromehts. There:were.up country prders for, a large riumbbr of young pigs, which we wero quite • UnableV to fill. ,;' If vendors would leave their names with the auctioneers it would help the'market; and prevent the famine and glut .which periodically recur -in the pig riia'rlcet.'!'. The • company offered a number of useful- horses, and ; :spld..several at fair.' value. Fruit."came forward:.,in large quantities, , and; made very satisfactory, returns to- vendors.. A :large ahdTTvaried; list of household furniture and effects,., also -vehicles, harness, and farm implements ;were, submitted and disposed of. ■; '•' ?■'.The:company quote:—Piss:- Slip's,'l2s." 6d. to 16s.' , 6d.;. stores,-18s.'6d. 205., to 225. Gd.; b'a-' coriers,,. ; not" sold."(3os. offered); ,;,,,; ; .£' Horses :i ! Half-draught; mare, ;-dEI6 15s. j '•'. aged 'jymre,: X7/;10Si i-:trap mare, '£11 15s.; pony/ 375.' -Gd.- >.<";. '.•''.-'' ■■' -■' ■- : '■' '::.",".' 'Roosters,,lβ.' 6d. to' la. 9d.; liens,-•is.'ld.'-.tb. 2si ; .2d.; ; ducX-s,'. Is. Gd.:and Is. :.7d.; turkey hens, 3s. Gd.; chicks, Gd.; alii'at each. ? *a'raiti'- : Bnrbank plnnis, 2s. 3d; ;2s. ;6d.V;to 3s. per chso; O'gon plums, 2s. 3d. , to 2s. Sd.; prunes, 2s;;.■.'nectarines, from, ss.'. 6d; -to 7s. .'■ . •.. v - ...- ».;' 3s.' ; to ■• ss; , '-3d.:. per • 901b. ■ I)agV onion's/ldr;p;cr;lb,; ; :feed:bats, : 2s;.ld.;. Cape : •barley,- 165.-per-.sacb; : bran, 7s.',to 10s. por'sack. ; .Kp Way,:.2ls. ';'■ sulkey, , 255.; •■ gig, ■'i£5 r '7s. ,: 6d.;' spring: , cart,:. £5 155.;: harness, £3 7sV l Gd." . ■ .:':,;i.;VK;S" . -;'.-■ ■:':,. .'■ -:■-■.: .".;'■ ""paddock sales; 390", wether, at 125.; 500 lambs, Ds.;-40'steers', :525.':-; ;:< ; <;.; : : -;' ■'. ';v .. .;

~ .::.;;: ; ; r;'•:;;';:. ::.'Messrs.. Daleety land Company, ;Itd:,- , hayn re•coiv«l..tlie:follq\vinß: cable messasses. from-their Xondonv,houso'v,uiider-.:dftte ..of--February': 11:— '■ Tallow.—Sin'ce'burlast wire tallow ih;general is fid. lower, at 'wWoJk flgare verj l\ttle is doing. ,•' Brozen;,Meat. : -ThVdemand,.f6r all classes of '.fro'zen.'ineatlis'iiniitedjVarid market.is weaker. 'Quotations are as , fbUWvr-New ZeaiiSßd prime ,'ox_beef, fores,' 2|d.;\Hinds,- , 3}d. : -..'iNew-Zealand ■ prime - crossbred'.:, la'riib, Canterbnryj heavy, , Z\&r, lictht, 5d.,; Island,..heavy,. 3Jd.; ■liKht;'sd. ; v/New;:Zealarid. prime -crossbred:mut;ton^'Canterhurj.''heavy,:!!Jd.; light. i\tk; North ilslandi'/heav.v,:..3Jd:;:',l]ght, 33d. , New .'season's -New-..Zealand - prime . lamb, ,; Canter'bury.' liR-lit,-" 5Jd-' J ": '■':'■'■'"■-■!:'■:■■''■ -'"'■-. '• ■'■"'■.''■■'."*.•'■•'■■' .li'A^furtheV'.decline,is;likely in allidwcriptfons. '•fB't:TEMee*PBH*C*M ;A'SSOC[iTI6Nr i cbrTRISHT.) : 1;''l"f;'iy^ ; :l/fsydn>yr']?ebruarr''13y -■ /-iTlie:failure ofssome;ofrthe;local crops,-and ■theValmost certain shortage .of, the. Tasriianiaii crop,.; owing ?to "the of, r'aiii, is causing ahardeninK tendency in the.'potatb: marketj'and It ,, ' is"" anticipated' that prices Willie' dear : for ;th«s.is^t"'6£ ;the',jear;" i ' v - , ..' v ■■,•.-,'.!,,;■ . ■:';■/*<'.'. i

.^; : :^../;.;i:.^MININa-vNEWS. ; ' ; ~'.:■'.■;' ' :■;'■.■?!•/wilHI GiuND:JHJNCTION/: ; -; J ;' ;'\'::"AN : -.;: ....., ; ': (sV;TKtioiiira—riiKss ' associatioh.) ' ■ (■'i-.'/j'.jViV;. '/,'{.:_{:" Auckland, 1 .February 14 ' f. Ait, therioon call-;of. the Exohange.fyesterday lljtf;-. K.jEsfll.jijfferred;,to i'a.:letter that:had ap"peared in : the.'London;,Financial' News" with , regard, to; the devibus : ways, of-the Stock Ex'bhangei'iii the :c»se- of shares:in the ' Waihi Grand Junction Goldmining' Company. Mr. ,Huli:said .that..the., writer.; had .'expressed the ;ppinibn : :of inJNew, , Zealand, 'therefore, he .thought it'propeivtb mention'" the imatfer.:in.Tease the-'Exchange'should think it 'advisable, to , write: stating that a , bear campaign i 'of^thatimagnitudeVcould not be carried ;but : in. New Zealand:withbut-.the:support of soma, very large 'and .influential.: shareholder: in. London-.' P.pr .some: three -months" these : shares 'had been "pushed. on- the; mhrket utterly regardloss of cost. ! where these, shares ■ came, from :he had never tieeiMible to find out; if ■ a '.man', could rush a large number.of shares,on,the market and sell dbwhi'tb 255, 'arid;buy:back at a , lower figurb; of course he could-make it pay, but the trouble ..wasr-thathsHoh tactics disgusted, shareholders' ,'who believed that the Grand Junction was a 'really good'mine. When they.saw the market continually .dropping it discouraged them, and finally they, sold and'lost money. , . Their selling iiist' brought.-' about; .what the worker. of' the bear .campaign , wished, and' made it possible, to .replace: at;. 255..' shares: that wero, perhaps< sold at 375. : : . -:■:"■:'' ■■■ ■' ':■ . .- '■ --'. .. '-' - - -. ,-:''The.-chairraf(n;(Mr. Buttle): said- they, .knew, .mine.'Wa'si'beirig'-'steadily de-.;, SVeloped'the'shares continually dropped,,although .there: was-a, general feeling'.that .it was , a vahi'able property,'' 'being , - adjacent to: the . famous , fWaihi .mine'i and it was: knowni that, the reef jiysteiri df-. ; . the ."Waihi Cdmpany:: traversed. - the;' Grand Junction property; , :. It. did■: not 'appear sto^him.Thowever, , as,.if;the; writeiv;of>the letter that appeared'in the "Fijiancial'News" referred ■at, all: , to the:' Auckland sharebrokers .in. the , "matter.:.bf falling prices. "It must, always be recognised that, snarebrokers had ■:simply to carry, out instructions for their, client's. ..'if a broker was told tovbuy pr sell-and did not do , soiihe would sooji lose his : : . ■ ■-. ■■■■!'. -I ■■' ■, !: that.'he did not : wish",,it ; thbught.if orj. a moment (that he - was casting A 'a,- : stigma [fita'Apy •■ mefbber be-,. I cause,sas rtlie , ,: chaiTmariT:said, :a broker:must: :db J 'as;fi'b'was' r told.".: What he'wanted..to be ! knoym was that. the bear'. could ■ not. have been 'n*nWce'd' , 'Sit , .Aueklarid';'dlbne. , , L -.'••. :, ; '.'■ P' , ' The discussion was'then dropped. '■ - v ;4;':DIIEDGING;,;EETUKNS:-^.■ ■••:'■.- ' ,' .'■ ; (Ht J TtIEGEArH— PRESS' ;. ;, i: :, ■•.■■>.'■' ■■■".'.• '■■;'•-;■£' Dunedin, February 14... ; ' "The following are dredging returns:—Rise and iShirieVl, 48bz. : . 12dwt.; Rising' Sun, 48oz.- Cdwt.; Rise* and .Shine'll, , '; (41bzV'. 9dwt;.; .Alexandra Eiireka,;: 41pz.!.7dwt".; Mblyneux. Hydraulic, '15oz. .Sdwti; Olrigr'lloz.'l7dwt. "iSgr: New Trafalgar,' 230z. lOdwt. ; ,New Roxburgh Jubilee, 300z.;' .Chicago,,2soz;,;isdwt,"; King, 17oz.;10dwt. ? ,\:y. .:, ; ':ißi' , Ti!LEaain'H T -riißSß association.). •":■;. .-."'. ': -■-■■■-.- ; '"-, ' ' "■'■'.■': Reofton, FebrnaTy 14. ?~ Reefton dredging returns are:—Worksop,, for 115 hours, 54bz.:ldwt.; Pactolus I, 135- hours, 140z."j Pactolus 11,232.h0ur5, 240z. ■ ~■. ~ .',

-■ -; : : ; ;.v■■■-.vbdj'-eivee..■ - ;■: ■■,' ; : (BT TELEGRAPH—PRESS'ASSOCIATION.) ' Pi'-'.' S' f^i''! : ' :■' Reef ton, = February 13. ■;'.. The manager, of' the" Big, River reports for the past-week as follows:—Eastern • reef, Nos. 8 and 9 stopes, reef broken, and mullocky; .No. '10 stope,'vftet.'^..fee't"-wide;"No. i ll.Btopo, reef 18 inches, branchy reef; No.. 8. stope, reefs 8 feet ,wide; No.;9",leveK east now in, 17 feet; the reef : being an average width of 2 feet. No. 9 winze.— The reef in, the bottom of the winze is getting more.;broken ;and .mullocky. : No. 7 level is : still under repair. .' Cosgrpve'e, block reef, in the stope on this block; is. the saiiio as in last report. In the 'winze .'on this reef is a solid body of stone 4-feet 6 inches wide, which appears to be going down strong underfoot, .140 tons have been raised for the week. Thebattery has been '.working full tjme,-.but will be stopped from to-day (Saturday) on account of the scarcity at water, the,dam being about exhausted. ;