FIANCE AND COMMERCE.

Dominion, Volume 2, Issue 511, 19 May 1909, Page 10

FIANCE AND COMMERCE.

;THE ■ SHAKE, MARKET.

'V;; /Investment shares: were:dull yesterday,' and ~';' business/was/restricted-to a sale bf-'Wclling--ton' Deposit "/'shares vat' Bs. -6d:'/, The, quotations '■-;': remain about-,the': same, Bank of" New Zea- ;/,:■■-■ land,. sellers" .£9 25.V6d.; 'National. Banks,, sol-/.'■■■--..;iers:£s ,Bs.'; Equitable" Building,'•' sellers -~£9 7s. --■■:■'■;;6d.; 'W«llington;ylrivestment,':"'buyers lis. 3d.; ..:„,/Wellington /Trust' and'';LoaV, sellers £7 Is.; -'/-'Wellington'/Deposit;'"ybuyers' 'Bs. Gd.; Feilding :.;/:;,Gas, hu;^rs.£l;;sellersi.£l os.;-6d.; Wellington -:■',-.:.-. Gas (£lO ; : paid), buyere £17' 175., sellers £18 •"-.■':■:: 105.,; (new.'assu'e),' .buyers'"£l'2s. 6d. premium; '.:. Chnstclrarch,Meat,-.buyers'£lo 7s. : 6d.,. sellers ',:>:..;.-/ ; £10 103.; "Gear; Meat J (£4'.paid),buyers £10 2s.' ' .;ld.i:'^;paid),Vbuyers' -lis. 6d;; -"Westport--..-.-'y'.Coal; /sellers ' £G ,Bs. .Gd.;-: Westport-Stocktun, ]:.,--: sellers :35:.'6d,,• "jOJaiapoi Woollen .(preference) .''.;• sellers -X 5"- .Wellington-Woollen, sellers £3; •-,;■Kaun ..Timber,/;/ sellers. lSs.;: 'Leyland-O'Brien ;.v Timber, .bwert { i?Uis;.'.9d; l . 25;:3d.; ■•:.. :-:New Zealand.Dr«gsi ; sellers i2'7s.; New Zealand •■■•:■:■ Portland .Cemohfc .sellers £2-Os. Gdi{Shafland*s ;:."■■ ;. buyers ;i9s,;3d:; Wattf and Co. ~/.:.. (brewery _ >ei' ' ; 17s. '•/-/ ■>--. ; .v y's " .'■^■ : ■ goodbusinoSs'was done in mining shares .;/■ yesterday,/and: sales' of .Komata';Reefs at GJd.; /■:■ Saxon, 2s, 2Jd.; Kuranni'Caledonian, Is.' liiL'; :../:. :. sales at £2 lis. 6d.; Waihi. Ex- :.■ • tended/es.' 2id.,-65. ; Waihi Grand . : .'.Tunotion,";: ;G2-,2s; i '9d;,' , 'i£s. 2s. 6d. ; ,- £2'2s: 3d.; ,r • Waihi;:'£9:4s,'; ■ Waiotahi,'.-2s: '.7d.:■ :.Waitangi, ,//. :-*3.-;.6d.,".,45, .6dV,"--;fe.,'Cd;i-,-4s. 6Jd.; :New Alpine ',■■-;■■':,-(95. ; 3d.,paid),-.at:55.,3d./:(10s. paid!, nt ss. .lOd.j ~,/New. Sylvia,' and Consolidated Gold- .;, . .fields,■vat 195.,- 3d. --were 'reported.- The quota- ,. tio.ns, withthe .'last recorded sales' were as : '.-vunder—/:;; 1 :';;://- ;-■■'.".■■.'.:■■.'.'■: ://',.:-'/ •■ .//,- '/-///; ;;; •"■>'.:;■-V'Vr-' .Buyers.- Sellers.-.-Sales. V" „/V vv'y. ;::;£, s.'d, £ s.'d. £s. d. ;:.. Waihr G'd Junction' 2 2 0 2 2' 6 2 2 3 fV - Waihi: A:.„;......;V;i.. 9 3 0 9 5 0 1.11 '!v-',-Waihi Extended :..... 0,6 2 '0' 6 4 0 6,2 ,-'v Waihi.:'Consolidated,-/ ;— :■ .0. 2 r i--.-- ■■■—■■:■■ ■ Wai0tahiv",...;....?.,... ;n 2 'I-- , —'-. '--.'6 :"2 ■" ■ r.TaUsman.r ;..;...!..... .2 11 3: 2 11/9 2.11: t- .'.'.;„■ Kuranui Caledonian o>l 1- 0 '13 V'O '1-1J -./:,/' -Komata/Beefs'-..........' -, — . .'•'-.■. — : -■ 0 o''6J' ,:-,: \Ma'y Queen '..;:,.;...;; : 0, 2.-1-:'-■■: — ; v " —- ,■/■:. /Saxon: >"-,v;.:........;;..,..:.0; 2 "0 / 0/2 i ■ 3 • 0: 2 2s ~'.i Tairiia Broken Hills: 0' '2 1,023 '"' v, — . :i'":-"""".Waitangii/,.;" Mi -. i .';..;:..-.V0".4';6'.V.0.-.4'-7-", O.'lCj i- -"Watchman"-....:..:..'.::'/, —'V VO: 0 4 ■' — •■■ V:/?. New Alpine (9/3 paid), o■% 9 0 5 G» 0 5- S, V.■-.'-:■ >New Alpine 10/-paid) -• : •—"'■- 0 6': 3 05 IB : ', vCon/'Goldfields.- 1 ...... 0 19:3 '. ,— '0 10 3 '. Blackwater ...•..'.....'.: t'^s-'9. ■'— ■'■ '■: :'.•;—.'" ' ;■:.■"-'; NeTr.Big/.EiT0r;..'.;..-; '2 16;:0 V: 3: 0 0'- '.;—.,'" ::::;;;;: i: ATI,AS °ASSUEANCE;COMPANY. '"■ '. ■.\ ., :-v- , \VV--.'-The'-jreport:-bifi'i , the , ' i AUas'-Assurance' Company, V -• 'Ltd.,'for;-the;:year ended December .31, 1908, ■;'.-: states>that,:;in:!the. Are' department,; the :net ';';:: ,: premiums wer0>C1,023,005,' and the losses, after Vv V : provision for. -exceptional claims- in respect "ot ?.' 1 ':'■• the - 'Valparaiso Xand : '~- Jamaica '. earthquakes, ; r ,amounted ',to.-,'£579,870, being ,56.Gvper cent, or ...i.vtho premiums. '.After charging 1 40 per cent. 01 .: .;':-tho :as.reservo for sunexpire'tt 1 ;J-':, .risks,-, tho underwriting of the-'yfear.:shows a -v.:.'-profit of £69,133. The fire insurance fund, after. X carrying £6500 to profit and loss; has increased '),■ :■ by;£59,750 to £735,965. /; \ ,;;'. ;■.-; \ ■ V ■ .;: (i :;/-!:?'BEITISH;:EXPORTS:TO v NEw": •; -:;"'; i The' following ..return vof .principal lines of - a '■'~• .(foods':of British ■ m'anufactur'e"exported to ■ New ;.-; '■ .ZealandVduring. the.-m'onth of March, lDo3,Valso quarter/ending March 31, .1909, with the ■!:. figures for 1007 and 1908 shown, for, purpose of ■ ';'.. comparison, .are compiled,:from'the Board of ';.'Trade rctuins;--.Jr..::'}:. < : A/.y'.■■■_■■■ ■:■./. ' : -'i:■'.-.=.' -' ] 'i, : ■-•'■ '■'■•-'':•: "':■;',.';■■'. :Quarter ; ending;March 31i '.-.-'••''■:' V ■:.".::.:v:-V!: ;::'.;.'■■1907..-:'"■ 1908.'•' 1909. ; - : v;--'.^-::''^v'i:'. ; :;'-:,i:''r-..■■:*..- : -£.:. '. ■■:. ': Beer 'and ala -..'...:....'...:.-:- 9,672 V .10,886 "9,196 ■:■■'■'<■ vSpirits.•■•.;.v..'..-/.VL.;;'..."...."-;' 55,989 :58,489..,:"49,531 ■-■'■''■■■•■ Ifoii.-.and•'•'steei- : and. V ' '-.:■'..;',' "V/".'. '/.: maniifactnres 1 /thereof;. 239,248/ 267,717". 198,124 ■ .Copper, /wrought: 1 ;-. or .: '•■■■ ■'^■•■■":'.'':f< > .- ■'.■:-. '■'". "■'■■;". 'manufactured :....;.:.: .V-6,351 ■'•.' 18,815 30,027 ■.-.■.": Cutlery. .^..U^......;...;,.;",";,6,250 .'i7,480 ".■ 5,546 :: .: Hardware ':Z,1.^..j::.t.;r <;29,378 ;\:34jil6-;?24,103■ /■Cotton piece "goods of.: : ; .. :.'■•" '",',' -':'. :: -all, kinds v......;.;:.;.;.,..,: 173,890 ~ 169,280 '155,172 .;,. .-.Woollen''and -.worsted'/ -v:-.■>'■'., .-•'-. i '-. ' .:■•■-.-:;■ ;.-',: ~../.;:;.,/,'96,062 108,237 .90,681 .-. iHaberdasheryVand/Mil-* .. ,■ . .•'■;.;;.'•' '.22,544 . 23,900-.-17,630' .-.;■_ manufactures -......- :.;'12,743: ■; 10,174 ■': 9,007 '?, :<' Linen: piece .goods/'of' l .■'•■.'.'=■."';''.■; •■:■'. ':;' .' : -:..'^ V/: :// all:kinds^. : ..^:,/;..v;v./:V25,868.^.31,334'-''23,705: V.V.- :„:V:.;.:;;„;;.;.':;::148,939.150,148 143,506 Boots and-shoes'/;......../ 51,410 : 54,337' , 54,535 :•..:.:... Sa'ddlery and harness;.., :8<723" ,11,315 . : 6,776 ...-;; Earthenware^'and glass•V'2o;96BV 25,498 ■ "22 798 //":;/Writing :.'■'-.■.■-•■' '■:■:'■■.■ -.:..^....;....../;..v,.v f /,- -':''27,455 V 28,197 ; --'- SP"?? nt ■ : ; »-»-"-i ■'■■/■ .-1f1,705ii-i9,218- I 7;336 ./ '. 'Stationery.";other, .than' '/' /-:/,;./ / ..-■.„■ / ; 'paper..-./.;.;.„..;..;.„,..„;.:'. 12,47p;f '12,284 '":': 9,775 Z-%j\';- ■■ :'. /By the'Englisjr.mailvwhich'^arrived'here on .'../; Monday;, some'particulars of'the Chicago wheat /';...",- corner, engineered 'by. Mr. -James 'Patten are to | .:'.,": 'hand.-. The' "Economist."vsays:-r"-Ib". the last /::.'.' '..two; years;, tho smallness'-' of the /world's wheat j ': harvest,, which fell..from .'423 million quarters -.' U.-in 1906, t0',390 millibnS'in ,1907, and 388 in 1908, field for* specula- ;; "'//tion;/: Tho has'beeh'seizid'by'ilr. /'/James Patten- to/coraer/.tho May :'option ~'iri '/:.• America,'thoj operation :-which, Mr/-Leiter jiist /'.failed."to carry :out ; successfully in,1898. . .-:-. : . : Mr. /Patten /has been: buying: aggressively,. and /;■:/:. "is said to have accumulated"3o million bushels. ; / i./.'-v This; hold-up/is -partly'respoiiible for 'the fact V.,; ■ that imports from the United 'States, which ex- ',-..-•' ceeded:lo.million cwts; in the'first'two'months- :.-'.:// of: 1908,. were./only 6J-.'millions''in the 'co'rr'cs- ,,,, , ponding-month of the present year. "But'under .modern, condition's-a, corner cannot be presspd .:.'.,.: ,60 far asvit/could-20;or,oven:10 years ago, and ;, \V":Mr.-; Patten /has; been' selling'out' while prices /:'■:': are "still firm,- through 'the uncertainty .of the '/; v, coming '.harvests; ; MrJ.Patten,"in, fact, seems '/);"'//^haveniade.ja.succcss/M;an,operation .which

P ™ d th «'. rm , n <> ! «<> ma'ny of his predecessors. The manipulation has had little-effect on Z^ m l RT v : % his < v H f gambles 0" the past. B. P. Hutchinson, in"lS67, for examplesent pricis up, to 2dols. 85 cents per bushel, squeezed his shorts " i n i{"y ,1898, at Idol, 85 cents per bushel. In thej-ear l^'cor t Mr f the ? niui States pro's rv^^V ofo «f supplies, bix years later, the proportion had /fallen ,bv 16-per cent., .and-in'the last, few years hasbeen about; 33. to 40 per cent."' ■ .V;, : -',';. : ■':'.. ,-; ...The .Customs--revenue collected-at Wellinston yesterday, amounted to £3650 Is. 6d. '. ■ , •X':;./'/;'-LiVE':STOCK,SALEs;- ' ■'/:'' "lo^^i'P-^ -$& C ? ;,, Ltd., report as'fol--i?V£ '? ur ,^ al 1 0n . sal 6 yesterday there was a -good entry,,of sheep, and the-.demand was f airly ; , good. .iSmalMambs, 3s. 10(1. to ss. Id.; medium lambs; 7s. 5d.,i75. 7d., to 7s. 9d.; cull agedjewes, 35.. Id.' to -55.; .empty store ewes,-' to 7s.;,mixed age ewes, in lamb.'lOsi to 10s. lid.; draught gelding,; 7 years, £26,.,,..,. /•'Messrs. Abraham and Williams, Ltd., report on their Johnsonvillo- sale, held' yesterday, as follows :—Thcro was* a good entry of prime quality/bullocks, and sheep wero well up to requirements.: ;'Best bullocks,. £8 10s." to £8 155.,-; lighter, £8 to ,£8 55.; light, £7 12s. 6d.; heavy weathers,'l3s. lid.'; -good wethers, 13s. 3d. to 135.: 5d.; light, 125." 6d.; ewes,' 10s. 3d. to 10s. lid.;.plain lambs,.9s, 2d./'to 9s. ,Bd. ~' • .'. Messrs, Abraham -and Williams and the New Zealand Loan,: Company. held stock sales at Pahiatua yesterday. There was. a- gqod-yardihg of.both sheep-and ca,ttle, and buyers', from Palmerston, . Mastertou, and Hawke's Bay operated freely, all lines being cleared at prices fully on a par with those of the previous , week.'-: : Sheep—Two-tooth wethers. 10s. 6d. • four-tooth, 10s. 10d.; sound mouth, ewes./in lamb, 10s'. to lis.; full-mouthed owes, in lamb, 6s, to/Bs.; stores,,,3s..'to 3s, 9d.; good woolly lambs,.9s.' 9d. ;',shoni, 7s. 6d. to Bs/ 4d. - CattleForward', three-year-old steers, 915.; two-Tear," 575,8 d, to 665.; 18-months, 525. 6d. to 605.; fat cows, 635. to 705.; dry cows, 28s. 6d. to 48s. Gd.; stores, 28s.'Cd. to'sos;; cows, with calf at foot ,675. to 82s.'; in calf, 4fis. to 525: 6d.; empty •heifers,; 30s:; in-calf, "40s.' to 57s;' 6d:,-' ,18months'do., 405.;, weaners, 15s. to 23s.;'bulls '305.-to 545.' '.-.',•:■ ' .. GRAIN AND PEODTJCE. -[: -.. ['':) ./ ,fBI TILECBAPH—PEZSS iSSOOIATIOK.) _, •', -■' ■•'■• Christchurch; May 18. h.m. locnl wnea t/market is still very ■ quiet. Millers are. not operating, and. exporters will only ,make .purchases .'at their own figure which/is now .-'Ss.'. Hd.r but only a 'few linos havo been obtainable at this price :■ fact„that the only.outlet-is the Home market, though prices there are roported to be a little weaker;.but the. difficulty is to get shipoine space. ; :,,.'.-■.''/. .. -~ -.In, grass/ seed .there is not much .doing, and tho recent, demand for ryegrass has eased off / .'-Potatoes---are-, still firmer owing to growers not being disposed to-sell, crops going into bit .instead.--' '.;:•-. ; ./.,."', -,-,- :;'.-. - : WOOL\SALEs! ' : ' B T TKT.iiaUiPu—niESs association—copintanT.) - : . A .. ;V". ' :v :-; / ;:;.. London,.May 17.' At tne wool sales-there was excellent business done, with brisk competition in all quarters. ; -~ -■•■ •-,",'-■'- ■;" - ■■ .-.«-,-■

MINING NEWS,

'■•. EEPOET?PEOM NEW ALPINE. '. '' : ..'_ ; CBI TKliEijßArn— I'RBSS ASSOCIATION.) '.'•, ;'.';": '•"''' Greymouth,-May 18.: The: manager of tho.-.Now Alpine reports that the .results from the battery show the value of the stone to be well over half an ounce, or 40s. per ton, and that the stone in the.mine is improving in size and quality. ON THE WEST COAST. ''•'.";■ '•'■'■■•■ '■■■'■'..;,- : ' : ''"■'. : ißeefton; May 18. •Mining.affairs here" are very active, and keen local' interest is being 1 taken in shares. As to local prospecting,.. New Ulstoi- is reported to have struck good duality stone—a three-foot reef—and shares held locall/ are rising. . Much interest also centres on the now Caledoni.m United mine, where'a shaft has been; sunk to strike the old Caledonian reef, and' driving undertaken to intersect it. This reef was worked in the old days,' and was a very rich one. JUNCTION. \' ■ ''-y:-'. : -;.■:-,,;-.. : .■;',■ ■'::. Waihi, May 18. Developments at. the; bottom (No. 5) level of the-Waihi Grand Junction mine are assuming an important'character. The Empire lode, mo ot" the Waihi "mine's valuable reefs, has been driven across for a distance of 20ft. with no sign of the Jother .wall; and drilling operations have jnst shown that .they are entering into /richer ore ■' The ore so far broken out, though .riot high :grade,,is being sent to the mill.' ';';,; .:-, \.:;'- ; : STOCK 1 EXCHANGE;':'.: i•= . -,' ' ,', : Dunedin, May 18. \ Stock-Exchange sales':—Hartley and Riley (two:parcels) and £1 10s. 6d.; Waihi Grand Junctions, -£2 2s. (two parcels).

!'^•■^^"■^^ ; ■•''-• ! : ':'.'." : ■^V/^^W^E'I• ; i. l"M-.C T 0 : N--.; ."b'H- : a'r . • " ; -'::':: v; ;' : : ; - BA^^?': ;:: ;^.-- •..;:: "■•.■V;" •■■'*'■. ; «'. £ jiiui £ a.'a. * '«• a 1 ?^---"^' 1 -:;^:■■.«? s.ooo.000. ;»Uj»; 3} . si 10 gi o 92 c o.o o » i .-,., V," ou ™. ■-:.,.•••:;•-,.: ~, ~ , W6 .000 ■ «?UM J; '15. 12 6 7 0 6 8 0 6 7 0 . 6 1 v : . : ;;:..--;;V; ; insurakce.:'.';' ; '; ;;■ ir : : 'v ':..-;,'..■•/ ■'•,■■•'■'■■ S ■K: wSw'&and.;:: ,-t- "'■ "':? ■ m «» Si '; 4 * is i «'» 193 1 0 6 5 1 is y:" Standard ™ .Hi: •" I loOMO ■ "*6U ,44 to-2 7'9 '2 8 6 2 7 0 6 6 8. ■■.':■:■.'..■'.■.■•..,•-.■".'',•■•.■■.■',..■•■ w,(w'. ■.t*.ft>6. .. ? ..i» ■ iu 11 u 1 2 0 1 1 u 7210 ; Afaultablo Building ... : .i •.„ - ! ' ""„ n am -.:■ I'tolionoUtan Building,. -. "•S CB , a JfIl- 5 " -io . 9 5 0 9 7 6 010 0 5 5 3 •M. WHngton, Invest..7 ! '- "■ ."• IMWU- - .£ nil .7 ... . ■ v. Wyiington l'costaad Loan'- '..; .«>.«» ,2™ 4 .'»' t. : oitvS' '■ Oil .9 (11 0 C»l .. :r h»ti 0na .M 0 rtfia B 6 ..;.-.. ... ■;"»*" : ,S '■'4■ 5 ' b 7 0 0 7 1 0 7 00 BU'3. - ••■...•tU. and Knor Wato •;.....„ »*>.M), ■ .JAJ» .. j, < »- io -217 0 ;3 0 0 -,. , :.V.ioan. and AleMatttilu - ... ... .towutl f"'~* ' .1 -»" .b 113 g 1m 0 113 9 5 3 4 ' ' ;^' ..:''..'.,;'';'• .'. .Wwsu'. luu ™ ■''., '».'■ I) 0 2-9 U 3 8 ;'..:./;.: ; ; ; '..~..;'Cas.-.:■'..■;;.::.:. ; ■'.■■■..■"■' ' ... y^&aekiM&.,,' : £i^^J' : \„ '■" ■■„»,»«•' ; . .•'•' ../..B^anuroh,........ :■_;.„; JM.370 95,632 n jj n „• u 8 „ 4 8 , - „ 10 ■ ., Raldmgy_ ... ;..;\. •>.•„-.,; 160,000 . - 5 nil 10 9 ,0 0 lit \ .,. aiBbotua-'... ... „• ,„ .... la.ixu ■">»*' ? ■ nil ... inn :S '1'1'A ■v'iliaweta.:-.... ••: .. ' -~ ■". . Hum ? ml i 3 J 2in>o ' aia i '■ . Hapier. .- ... ... "_.,. ... ■'•„■ • lt.ioo *"*■ ■ 6 * nil iu ''. : ■■** » t '~? ]l "'■■'•■■ 2510 °'■ ' ; talmeraton Horth:•.....'...' .. J.--. '; B i 0 .,v;...;,v...; -. ■ ... -vSWEO. ,11.|M j 10 77 0 , 10 0 , 7 6 ,■ 610 ..-,». .«,..,.,.... ,,....,.,..,,...., i 258iUT . >•««,■ 10. ■»",.■• W. 1717 0 3810 0 1TJ7 0 6-12 0 ■■■'/.' V:;',. v: ; ;.";- ueat; , .'' : .-i" r '. ; -. '-y ■'.::■•- :v- ::; . ■■';^ s : ' lu ■ ■.■. '1300125c 4-99 ;'.''.'Canterbury '■"' -'i;'."'«'■'".'„': "'• ' - - ■.' ■''•"' ' " ■ • ' \ ■■'• '•"'■"'' -S3S- 8 '{ »j« jj-'j ■■»-.. T» a -;::;: 11W ;,i..::f SS ,„ 2 6 ' ■ ij^.J jj S 2 }"■» "■>*?.-■:J, t: ".f. J'! Sl-i -Si?-.S. H.J '■'■-"■■ ■ • ','■■■•■"■'■■•"■■'■"■■■ .»'t»' -'"MW-. ■« Si "J.-8. 0.6 111 310 617 8.. ;;■:,.• ;transpobt,<:- ■'■;■'■, '.•:.;,•■.,.;:.. : - : ..V.'?; '? .;■'"'■••■• v'':';• ■', v-. .. :. :K^Shipjjing v :^„v\'■'•";■ ;,',"- '•. :- : '"■/ •'"•'■.»■'■'■■.■,:'. ''vi'" '■'. '.: ':- ; Vjuiou bceam ...; '" *" ..—• • 4T3,8<0 11S.508 ,V '" Vll : '''-Vi •''•',",?''c .,J : a '■■•■"■'• ' '' 1 .-S,'S'5-iS§ MJJ. H? :;-;;,v;.v ■ v ■■■;;■• ;.- ■ * ■;•':■■. '■*■■■■-■■:. : ';:',,. .''■■::;, '■'■'•' Westport ■'■.■','„.' ; - '•' ': ! ; '■": ' ' -. '' "■•"■'■ ■ -."' x . •• .'•'..' ■',-'' ". ''£aiapo'." N ,'-.' : *i_''.-'V' "'■'•. '■':'' : '''..'; ,...■!:>;.'.•■' ".•';:' : .' : 'I .-■..-''. - .v;. Utagin ■ :.»,:.'„ .,"..V.' [ > > : rjcO-COO .■'KiESi ■6 ; - : . , B ll' '7 -'^'.' ".'■« n : ' ; ,'. _■.'>;): , -:,■ , 3 ° ° . D :^ '^^^■ : ''W -7$ I 'I & ° ; .'-.' ? ■ ■^jfe&W=;:^:??H-"IB- i^«'.^'&^^ ,;o^ ■*.;;, ■;■■.■■■■''-';---■;' ■"■.;■;■:■ '■'■''..■.■ ,: -.-'""':"' .-".a .V;-fclcflailg©. .. •-'«"'■ '■■ ■'■ ' '■■'' ? '