COMMERCIAL.

Dominion, Volume 2, Issue 472, 2 April 1909, Page 8

COMMERCIAL.

THE SHAKE MAEKET. ' Sales' of Westport Coal at iS 55., Kauri Timber at lis. 10a., and New Zealand Portland Cement at il :11s. 9d. and .£1 15s. were reported yesterday. There were an unusually large number of buying quotations, hut sellers appeared to be scarce. Bank of New Zealand, buyers £S lis.; National Banks, buyers =§5 35.; Equitable Building, buyers 55.; Wellington Investment, buyers lis.; National Mortgage, buyers £2 lis.; Christchurch Gas, buyers £9 ; Feuding Gas, buyers £1-, Palmerston North Gas, buyers £T 75.; New Zealand Insurance, sellers £i; Gear Meat (£1 paid), buyers .£lO, (.£1 paid), buyers £2 lis.; Meat Export (£5 paid), sellers .C 6 7s. 6d., (=E2 12s. 6d. paid), sellers £3 Is.; New Zealand Shipping, sellers ,£7 Is.; Wellington Woollen, sellers .£3 Is.; Westport Coal, buyers £6 ds. : , sellers .£6 55.; Wcstport-Stock-ton, buyers Bs. 6d., sellers 95.; Kauri Timber, (15s. paid), sellers 155.; Leyland-O'Brion Timber, buyers J2T 2s. 3d., sellers .£1 2s. fid.; New Zealand Portland Cement, buyers £1 155., sellers'.£l 165.; Taraniiki Petroleum, buyers 65., sellers 7s. 9d. • , , : THE MINING MAHKET. Sales of Talisman at £1 6s. 3d., and Waihi Grand Junction at J2l 7s. Gd. were reported. The quotations were as under:— Buyers. Sellers. Sales. £'s. d. £ s. d. £ s. d. .Waihi GrandJunotion ... ... 1 7 9 — 17 6 Waihi ... ... 9 19 9 2 6 — Waiotahi 0 3 5 0 3 7 . - Talisman ... ... 2 6 6 2 6 9 2 6 3 Tairua Broken Hills ... ... 0 11 0 11 — Big River ... 2 '4 6 2 6 0 — OCR EXPORT TPiADE. ' The-'oxports from Wellington for the quarter ended on Wednesday are as follow:— Value. .£ Butter, 32,438cTvt. 173,46-1 Cheese, 28,861cwt. ... ... 80,128 Beef, frozen, 30,519cwt. ... ' ... 35,128 Mutton, frozen, 101,507cwt. ... 116,529 Mutton, pieces, ll,4sGcwt. ... 19,969 Lamb, frozen, 77,328cwt 1-12,385 Meats, potted,' 7715cwt 15,875 Flax, 2175 tons 17,425 Tallow, 2726 tons .„ ... ... 75,219 Tow, 560 tons ... . ... .... 2,957 . W001,.29,565,3631b. \ ... ... 875,512 . The exports and values for. the month of March were:— . Value. £ Butter, 6225cwt. ' 33,437 Cheese, !575cwt. 12,636 ■ Beef, frozen, 9897cwt. ... ... 10,853 Mutton, frozen, 34,061cwt. ' ... 3-1,622 .Mutton,'.pieces, 4538cwt.; 5,912 Lamb, frozen, 23,290cwt. ... 41,'103 Flax, 789 tons .... .... ... 17,211 Tow, 207 tons ' ... 1,075 Hides, 3751 No. ... ... , ... 3,962 Skins, 85,380 No. ... ... ... 7,886 Tallow, 1139 tons ... ... ... 81;499: . Wool, 10,911,5011b. ... ... ... 323,270 The Customs revenue collected at Wellington yesteiday. amounted, to JJ1892 Is.-Id. WELLINGTON MARKET REPORT. Messrs. Laery and C 0.,. Ltd., Wellington, report wholesale prices ruling on the market:— Wheat, fowl, Is. 6d. to Is. 9d.; oats, 2s. Id. to 2s. 6d., dun oats 2s. Id. to 2s. 3d., seed oats 2s. 4d. to 2s. BcL, algerian seed oats 2s. 6'd.; maize, ss. 2d. to ss. Id.; crushed malt, Bs. 9d.; fowl barley, 35.; horse beans, Is. Bd., all at per bushel; ricemeal, ,£5 to £5 55.; flour, New Zealand «£ll 10s., -Australian i)ll 10s.; bran, 10s.''-to £5 155.; pearl barley, .£l7; ' peas, partridge Is. 9d., Prussian blue 65., fowl peas 4s. 3d.,'split ;E17 : 10s.; bonedust, superphosphates, £5 to c£s 55.; guano, £1 10s.; chali, oatenslieaf, <£3 10s. to oatmeal, 10s. to 155.; potatoes, £3 to £ii onions, i£6; molasseS fodder, .£5; bacon, factory,-sides 7id., hams 7Jd., rolls Bd.;' butter, bulk, Bd.. Poultry: Hens 35., ducks 4s. to 55.; turkeys, gobblers lis. * to 125., hens 9s. td 10s.; fresh eggs, Is. 7d. to Is. Bd. per dozen; cheese, 6d. to 6|d. per lb., loaf 7d. per lb.; Akaroa maohine-dressed'cocksfoot &Jd., farmers' dressed • sd. to 6d. per lb. ; ryegrass, 35.. 3d. to 4s. 6d. per bushel; Italian ryegrass, 3s.' 6d. to 4s. ' bushel; white, clover 70s. to 755. cwt., red clover 655. cwt.; cow grass, '655. cwt.; alsike, 82s. 6d.cwt.; mustard,..4os.'cwt.; .trefoil, 375. 6d. cwt.; rape seed, 265. cwt.; timothy, 32s. 1 6d. cwt.; Bwede and turnip seed, 60s. cwt. ' . ■ LIVE STOCK. SALES. Messrs. Dalgety and 1 ' Co., Ltd., report as follows r—At our Palmerston sale yesterday there ■was a small entry; of sheep, and a fair yarding of cattle. ' Quotations:—Small ewes, Bs.;r forward heifers, £2 16s. 6d. to 195.; fat and forward heifers, to .£3 Is.; fat cows, .£3 2s. to .£3 155.; empty cows, to .£2; dairy heifers, ■to £2 12s. 6i; springers, .£4; eighteen-months tteers, £2. 7s. The New Zealand Loan and Mercantile Agency Company, ■ Ltd., report on their sale held at Palmerston on Thursday as follows:— "We had a medium entry of both sheep and ! cattfe, and we have ,to report a good clearance at late rates. The sale was conducted for the first time by the three local, auctioneering firms in the one set of . yards, irith a time-limit — an arrangement .that proved very satisfactory to both buyers and sellers. We quote:—Sheep.: Store ewes, 65.; breeding ewes, 9s. to 10s. 6d.; ( forward liunbs, 6s. 4d. - C&ttl©: jFift&6n-montti 1. steers, two-year steers, £2 155.; Btore cows, £% 4s. to £2 - 10s.; .forward cows, j£2 15s. to i 3; 45.; fat cows, £3 10s. to M 25.; two-year heifers, £2; heifer in calf, £2 195.; forward heifers, .£2 165.; fat heifers, 155.; springing v heifers, £5; dairy cows, close to profit, =£6. Messrs. Abraham and Williams, Ltd., report i as follows r-On Thursday at Palmerston we had a very fair yarding of both sheep and , cattle. Young ewes i sold well, but old ewes ■were hard to quit. However, we managed to clear the bulk of the stuff. Young cattle sold at current rates, but the demand for big bul- . locks or steers was very dull.We quote:— Two-tooth ewes, small, 10s.; mixed-aged Lm- ' coin ewes, 9s.- 3d.; four and five-year ewes, ' from 6s. to Bs. 6d.; six-tooth and four-yeai ■ ewes, 9s. 6d. Cattle: Three-year steers, £A 195.; two-year heifers, £2-, yearling heifers, - 225. to 315.; fat and forward cows, £3 to J!3 lis.; old cows, 375. 6d. ~ LEVIN HIDE AND SKIN SALES. Messrs. Hudsoii and Marriott, Ltd., report: We held our monthly sale of hides and skim .. at Levin yesterday, when wo offered a very good catalogue to a fair attendance of buyers, ■ Bidding was animated for wool and sheepskins, but the demand for ' hides showed c - considerable falling off, with a consequent fall in prices. We quote :—Wool—Coarse crossbred: 5d.; dead, 43d.; lambs, 5Jd.; crutchings, 2}d. locks and pieces, to 13d. Sheepskins—Hali wools, s|d.; quarter -wools, 5d.; lambs, sd. tc 6d.; pelte, 4j£; doad, 3Jd.; broken, 3J<l.; green 2s. lid. to 3s. 7d.; lambs, green, 2s. Bd.; saltet pels, Is. 9d., 25., 3s. 3d. Hides—Light cow 375. Bd.; medium, 5d.; farmers', 3 6-Bd.; yearling l|d.; calfskins, 6|d. ' , Tallow, in tins, 16s. 6d.; in casks, 225. 9d. horsehair, lid.; bones, Is. 6d.; fungus, 3!d. AUCKLAND TRADE RETURNS. IbT TELEGBAPH—rEESS ASSOCIATION.) Aujkland, April 1: The trade returns for the Port of.Aucklanc for March show, a decrease of ,£16,248 in Cus . toms duties on imports, hut a phenomenal in crease in exports, of staple products, including Wool, an increase of i£51,085'; butter, an in crease of .£56,661; frozen meat, an increase o JE21,831; kauri gum, an increase of j£29,748. FROZEN MEAT MARKET. ; fBT TELEGBAPB—raiss ASSOCIATION.) Napier, April 1. The Colonial Consignment and Distributin; Company cables the following quotations on th London meat 'market:—Canterbury mutton 3id.; Napier, Wellington, and North Island 2jd. Lamb: First, 4Jd.; second, 4i|d. Beef Hinds, 3Jd.; fores, 2Jd. LONDON, MARKETS. ' (DT^Kr-EQUArH—I'MSS ASSOCIATION—COrTHIOHT 1 London, March 31. Wheat.—A cargo of Australian sold a 395. 7J a d. At tho tallow sales 800 casks were; off ere and 575 sold. Prices -wore unchanged. Lead is quoted ;at ,£l3 15s. , HIDES MARKET, ' . |BTUIBOBAra— rßisss amociatiox—copiaiaß7 (Rec. April 2, 0.10 a.m.) ' , i Melbourne, April 1. In the hides, market prices were one-eight of a penny higher. Catalogues were cleared ; sellers' favour. , . ' MINING NEWS THE TALISMAN CONSOLIDATED CO. MEETING OF SHAREHOLDERS. (BI TILEOBirH—PEES9 ASSOCIATION.! Auckland, April 1. A large number of shareholders in the Tali man Consolidated Gold Mining Companv assei: . bled at the Stock Exchange this afternoon, i , consider the .position of affairs in connectic

with the company, Mr. John Dawson presiding. ■ Tho secretary to tho Stack Exchange (Mr., Noftkes) said tho meeting was called to consider the rumour that tho Auckland attorneys of tho company were to bo replaced by Wellington representatives. •> Mr. J. C. Colbcck said that ho had visited the Talisman Mine very frequently, and could , assure shareholders it wns a magnificent property. Since tho ccntrol of tho mino had been in New Zealand, ho considered no self-respecting mine manager or director could long retain office.' For 110 well-known reason they wore told that so-and-so was to bo kicked off tho board and replaced by a nominee of the Wellington shareholders. The.v had not the soie control of the Talisman Mine, nor a majority I of the shares. If shareholders would tako an | intelligent interest in the mino they wuild act wisely. It was proposed to have two Wellington gontlemon and one from Auckland as an advisory board. Mr. Colbcck, continuing, said that ho understood that tho man in Auckland was to bo Mr. Peacock. Now, why should Wellington shareholders nominate tho Auckland representative? The Wellington people seemed to wish to advise in all matters connected with the Talisman Mine. Men would not allow their money to remain in a property that wa? to be kickeil hither and thither by mon who knew little about mining. He deprecated this feeling between Auckland land Wellington. Ho would sooner havo a friendly conference to try and settlo matters. He understood that tho feo proposed for the gentlemen was .£2OO each and travelling expenses. He did not see what possible services these gentlemen could render. Mr., Noakes proposed that a committee bo formed, with the object of looking after the interests df the Auckland shareholders. Mr. A. E. White regretted that Mr. Colbcck should suggest that the shareholders m other parts of New Zealand were nincompoops. He came from Wellington to attend the meatinp• i o meet tho;allegations that had been made. The shareholders in ihe south, he could tell them, resented the continued interference in the management of the Talisman Mine by members -'f the Auckland Stock'Exchango. They objected to such action by members of tli© Exchange. They, held that the Exchange had no right to indicate to tho company tho way in which the mino was managed or how their business was conducted. The' interests of the shareholders throughout New Zealand were not identical with the interests of the Auckland Stock Exchange. The shareholders were in the company to make money, by-.petting onfc gold, and not for the parposo ofi gambling in the rise and fall shares. 'He-.asked shareholders to exercise their , own judgment,- and not . be controlled by the Auckland Stock Exchange. » Mr. W. Colbeck: What has the Ezchangft done? ~ • , . , : Mr. White: Called two meetings to interfere with tho management of the company. What would be tho Tesult if the same course was tried-with respect to the Bank of New Zealand and other big companies? # The Wellington shareholders had no intention of shifting the office of the Talisman Company from Auckland. Regarding the personnel of the advisory board, he thought that in the south they had had ,as much experience in company management as people in Auckland. In the south they were to a man in favour of the advisory board. Mr. G. L. Peacock opposed the appointment of a local committee, pointing out that if that committee worked"in'oppoSition to the propositions of shareholders in 'the south, it could really do nothing, as it-would not.be powerful enough. , : , ~ Mr.' MDonald moved that the meeting Ve adjourned till to-morrow, and the motion was carried. Mr. Harper, formerly, of New Zealand, and now manager of a Siberian gold mine controlled by English' interests, is at present in Wellington. Mt. Harper recently visited the Talisman Consolidated, and in a conversation with one of the shareholders, spoke in favourable terms of the prospects of the mine, and specially complimented the .company on the excellont work which he considered was being done by Mr. Stansfield, who is in chargo of the mine. • WAIHI'NOTES., (HI TELEGRAPH—mESS ASSOCIATION.! Waihi, April 1. ■ The Waihi. mine, which ranks as one of the greatest gold-mining propositions in the .world, having produced •in the past eighteen years nearly seven and a half million, sterling, and paid to shareholders over three million sterling, is again entering upon an interesting stage of development by the opening of its No, 10 level, at a depth\of 1000 feet. Consistent with the developments of the upper levels, the' results of operations at the moment of writing are most satisfactory, the exploitation showing the two reefs, the "Royal and the Empire, of the series df sixteen met with in the higher levels to bo of equal strength and value, tho present tendency : '.indicating ;eVen improvement. 1 The adjoining property, the Grand Junction, situated ,but a 6tone's throw from-the main .workings ; 'of the Waihi mine, is also now "'entering upon an important stage of development in opening up its No. 5 level at practically tho same depth (1000 feet) as the Waihi-mine. Crosscuts to the west and east from the bottom of the shaft (No. 5 level) are being prosecuted to intersect the well-known Martha reef and No. 2 lode- already being exploited in, the upper levels, and to the east the Empire and tho Royal. In the meantime, three winzes from the No. 1 level are being sunk on the Empire, and one • winze, on the Royal. The. result of these operations have disclosed , high grade mineral ore, assaying upwards '< of ',£9 per ton, extending over the full width of the winzes. The enhanced value of the Empire and Royal reefs in depth point to valuable disclosures being met with at No. 5 level. " " STOCK EXCHANGE. The Wellington Stock Exchange has received the following telegram from the manager of the Undaunted Goldminiiig Company, Limited:— "Total return from tail-races and boxes for March is 620z;" IB X TELSOBAPB—PEB39 ASSOCIATION.! Dunedin, April 1. Stock Exchango sales:—'Waihi Grand Junction ■ (three parcels), .£1 Ss. 3d.; Hartley and Riley, j01; Westport Coal, £S ss.