COMMERCIAL.

Dominion, Volume 2, Issue 532, 12 June 1909, Page 8

COMMERCIAL.

. ,: THE SHAKE MARKET. Investment shares were very dull yesterday, and no business was recorded. National Banks, buyers £5 55., sellers £5 75.; New Zealand Insurance, sellers £3 175.; South British Insurance, buyers £2 Bs. Gd., sellers £2 os. 6(1. j Standard Insurance, buyers £1 2s. 3d., eellers £1 35.; Equitable Building, buyers £9 2s. Cd., sellers £9 55.; Wellington Investment, buyers Us. Gd..; Wellington Trust and Loan, buyers £1; National Mortgage, sellers £3; Now Zealand and River Plate, buyers .£1 135.; Wellington Gas,. .£lO paid, buyors £18 2s. Cd.; Christchurch Meat, bnyers £10 10s.- Gear Moat, £i paid, buyers £10 35.; £1 paid, buyers .02 lls. Bd.; Meat Export, £2 12s. Gd. paid, sellers £3 Is.; 'Wellington Woollen, sellers JG3 Is.; Kauri Timber, sellers 15s.;'Now Zealand Paper If ills, buyers •£1 Is. 3d.;' Now Zealand Portland Cement, sellers £2 Is. 6d.; Sharlnnd's ordinary and preference, buyers 195.; Taranaki Petroleum, sellers 75.; Whitcombo and Tombs buyers £i 2s. Cd. ■ , : ' THE MINING MARKET. A fair business was dono yesterday in mining shares. At the morning; call sales of Talisman, at .£2 125., Grand Junction at JE2'ls., Waihi. Consolidated at 3s. 3d., Watchman at 15.''9(1., New Alpino, 9s. 3d. paid, at Bs. 3d. (throe , sales), and Sfaorilnnd at lud., wore made on-'Change, and , tho' following'sales were reported:—Saxon, 2s. Old.,- Tnirua Broken Hills, Is. lOd,; Talisman, £2 12s. 3d., and Waitangi at 4s.- Bd.- At the. afternoon sitting sales of May Queen at 2s. 3Gd., New Big Eivor at £2 165., and.New.Alpine, 9s. 3d. paid, at Bs. Gd. were made on 'Change, and the reported sales were: Tairoa Broken Hills, Is. 10d.; Grand Junction, £2 Is. 3d.; Waihi, £9 25.; and Maoriland, 9Jd. The, quotations, with the last re-' corded sales, were as under:— >'■■'■ : . -■.-■•■■■ ■■: Buyers. Sellers Sales. tu-'-'-l- n. y v ' XBid - £s - i - £e -< i - Waihi Grand Jnnc- — tion ... ... ... 2 0 9 213 2 13 Wnibi ;..■'■:..'.' 9 10 9 3 0 9'2 0 Waihi •' Consolidated 0 30 03 3 033 Waihi ■■■Extended. ... 0 68069 — Waitangi ... ... 04 3 015 04 3 Waiotahi ... .„■ . — 03 O' — Watchman ...• ... 0 110 0 111 0 1 9 Talisman.' - ....... 212 0 212 3 212 0 Kuranui Caledonian: 01 10 14 — N!Z. Crown ;..••...-0-6 0 — • — May, Queen .... ... 0 251 0 2 CO 2 G Saxon :.-.-... .„ 0\ 2 0 0 2 3 0 2 (li Tairua Broken Hills ■• 0 110 0 2 0 0 110 New.Sylvia, ... ... 02 5 — . — l£»oriland "....; ...0 0 9J 0 0 10J 0 09J New Alpine, 9s. 3d. ■ paid ... ... 1... 0 8 6 0 8 9 08 G New Alpine, 10s. paid V— 09 3 —' New Big River ... 215 0 — 216 0 Con. Goldfic'ds ... 018 3 018 9 — COMMERCIAL UNION ASSURANCE. . The report of the Commercial Union Assurance Company, Ltd.; for 1908, states that the net premiums for ISOB of. the firo department amounted to £2,785,965, being a decrease of £95;397,'-ond the .losses.- paid and outstanding to l /.£1,470,881,-0r."52.3: per cent, of the premium income. iFrorn the profits of this department the sum of £75,000 has been carried to profit and loss, and, after providing for eut- : standing losses, the fire fund stands at £2,370,4SS.' In the marine department tho net premiums received were .£241,723, and the losses paid. and', outstanding amounted to £131,845. j From -the profits of this department tho sum of .£35,090 has been carried to profit and loss, end.'after providing for outstanding losses,! the marine fund stands at j8G45,285. In tho g-HMralaccidtnt account tho not premiums received were £268,317, and tho losses paid and outstanding amounted to .6133,914. From tho profit of this, account the sum of .£IO,OOO has been transferred to profit and loss, and, after providing for outstanding lossee, the genoral accident fund;stands at £H5,G56. In respect Of the employers' liability account the net premiums received wore. £210,659, arid the losses paid amounted to £142,797. After the estubhsnmont of a reservo of 40 per cent, of the premiums of the year for unexpired risks, and after providing' for outstanding claims,, the balance.of: this account-f-namely, £12,016—has been transferred to. the general accident ac°°u nt v T , be pr? ?' and loss ha 3 dosed with a balance of £166,095 carried forward to 1903, and out of that amount the directors recommend a dividend (free of income tax) of 65.. per share, making 12s. per share for tho

: "■■;-■.■ PAPAEOA- COAL COMPANY. ■ The third annual .report of Jho Paparoa Coal Company has been issued; and deals with the twelve months ended March 31, 1909. The report states:- During the year the share issue offered not having been fullv subscribed, 1760 debentures of .£25 each, bearing interest it tho rate of 6 per cent, per annum, were created. u» ls J n< >"; has ',P«awy all been- taken up, chiefly by shareholders. The funds now available are snßciont to complete and equip the mine, and to leave a margin for commencing business. The works are practically completed, the line, of communication brinf established from Soldier's Creek to the terminus'of the Government branch railway at Blackball. The fan and main brake'are «rected, and all the other machinery and plant is to baud, either complete or. in precess of being completed. The storipv bins are well in hand. A new eeam-of .Bft.-of anthracitous coal, similar in analysis to the other anthracitous sonms, .Iras intersected in the main tunnel in March last. The company now has three eesms, Nos. 1, 2, and.3, about Sft.i Hit., and lift, thick respectively, available for working. It is .intended to begin operations on No. 1, the lowest seam. Tho coal proves to be of exceptional quality for coke-making, and at a futura date, when our coal-mining business is. established, it will be desirable to undertake the mannf»cture of coke.' The mine manager states:—"For steam production, household and smithy purposes, the coal has no equal in New Zealand, and once on the market will soon establish a reputation for itself.: berlast, a six-ton sample from No. 3 seam was sent, on my recommendation, to the Broken Hill Proprietary Bellambi coko works for a'.test.of the coking qualities, and tho result proved that it will make a coke equal to any in the world.

, "Tho absence of the Government branch railway, the completion of which was expected in 1907,' has been, n groat disadvantage, and has entailed a , very heavy additional outlay. It is now promised at an early dato. Shareholders are reminded that the scope of tho works proposed in-, the .'prospectus was greatly enlarged, as indicated, in the 1007 report,-'and instead of carrying out tho main tunnel to intersect only ;> the' lowest seam, it has- been pushed thronjih. to Soldier's, Creek to command the whole field. ..The three lowest seams.have been opened out, and facilities are also, gained for readily opening and working the bituminous ssams when necessary." The balance-sheet shows capital paid up, .£130,701 2s. -Gd.; debentures, JC2B.7GO' 25.; sundry creditors', £GtOG-193. MM.; debentnre intercst.accrued, 25.; -totnl-liabilities, JC166.23G Gs. 4d. - The nswts include mining lea.wholdp, interests and rinhtß, and developments. £143.861 14s. 2d.; preliminary oxpensos, .£2185 10s.; office fnrniture, £4S. 16". 3d.: materials and stores in hand, .-E4-ISO s ■ fixed deposits and accrued interest, £43.652.35. , 9d.; fees and rents. .*l2B ■2s. .Gd.; bank and cash balances, 19s. Bd.; total, assets, £16G,292 6s. 4d. ,'.'•' Customs revenue collected at 'Wellington yesterday amounted to £1593 Ss. 3d. NOTES. .''.■' The wages and salaries paid throughout the Commonwealth in factories during the year 1907 were £18,323,977. New, South. Walos led. with £6,650,715, Victoria being second with JG5,932,G77. New York City revels, in a funded debt of £101,126,955, and the next largest city debt in the United States is that of ■ Boston (£21,362,375). Per head, the Boston indebted-' ness approaches moro nearly to the New York total, the latter reaching over £36 ss. per head, and Boston £34 17s. Trade of tho prinoipal American ports last year was: Now York, £252,550,000; Galveston, .£42,090,01)0; New Orleans, £39,395,000; Boston, X30,3»D,000; Philadelphia, .£31,259,000; Baltimore, X21,550,000j and Saa Francisco'. £15,421,080. Last y«ar the United States records showed immigration 557,585 and emigration 588,4(7, indicating an excess of .'emigration amounting to 30,8(12, and it had been very many years sine* such an exodus had ba«n previously recorded. This year, however, the influx is beginning to rovive. ■ ■ ■ - Tho exports of the Commonwealth for tho first four months of the year amounted to £22,095,337, ns compared with £20,012.530 in the corresponding period of last yrar. Tiking produce alone, tho figures were .019,489,592 ns against £15,536,211. Tho imports for tho four months abrogated £15,881,330, as compared with £14,808,372. TOLLINGTON MARKET REPORT. The New Zealand Farmers' Co.-op. Distributing Co., Ltd., report ns follows:—llaizo, 55.; wheat, whole fowl, 4s. od.; barley, Capo seed, 3s. Gd;; barley, feed, 3s. to 3s. 3d, i>er bushel; barley meal, £6 10s. per ton; oats, 2s. 3d. to 2s. 4d.; oats, seed sparrowbills, gartons, duns, Algerians, 2s. Bd.; oats, crushed, 2s. 7d per bushel;"hay, primo, £3 10s. to £1 10s. per ton; Etraw, wliealcn £2 si, oaten £2 lα, 6d,

per ton; bran, £5 ss. to £5 10s.; pollard, £6 15s. to £7; sucrosine, 200's, £1, 100's, £7 ss. per ton; linseed oil cake, genuine, 14s. per cwt.; primo oatensheaf chaif, £3 ss. to £3 10s.' per ton; potatoes, £5 to £5 10s., selected Canterbury Up-to-Date seeds, £G 10s. per ton; onions, £5 per ton; butter, separator, 9Jd. to 10d., dairy 9(1. per lb.; eggs, fresh, 2s. per doz., good demand, preserved Is. sd. to Is. 6d. per dez.; honey, GO's ijd., li's 5d.; beeswax, Is. Gd.; fungus, 4Ju.; walnuts, 5d.; cheese, best factory, mediums 6d.; bacon, factory, sides Bd., rolls M., hani3 Sid. per lb.; porkers, 70's to 90's 4|d., 90's to 100's 4Jd.; baconers, 4d. to 4J(1.; heavy pigs, 3d. to Sid. per lb.; calibase, Is. to Is. Gd.; parsnips, 2s. 6(1.; carrots, table,.2s. Gd.; marrows, Is.; caulillowers, Bs.; pumpkins, 3s. per sack; swedes, 20s. to 255. per ton; apples, (lessort, 7s. Cd. to 9s. per case; apples, cookers, 4s. Gd. to ss. per case; choico tomatoes, 9s. Gd. per half-caso; pears, dessert, 7s. fid. to Bs. Gd.; pears, cookers, ss. Gd. to Gs. Gd. per case. Poultry: Table roosters, 4s. Gd.; cockerels, 4s. to 55.; table hens, 3s. Gd. to 45.; ducks, ss. Gd. to Gs., all at per pair; turkey gobblers, 10d.; hens, 95d. per lb. LIVE STOCK SALES. Messrs. Dalgety and Company,, Limited, report on their Levin sale, held yesterday,' as follows:—Wo had a full yarding of both shoep and cattle, which came forward in excess of advertised numbers. With the'exception of a few wns of heavy bullocks everything changed hands at the following rates:—Good wethers, lis.. 3d.; others, 13s. od.; fat ewes, lls. to lls. 6d.; light ewes, 9s. Gd.; forward wethers, 12s. 9d.; store wethers, 10s. Id., 10s. Gd., to lls.; fat lambs, 10s.; forward lambs, 7s. 9d.; oull wethers, 7s. 8d; cull ewes, 3s. 3d.; aged ewes in lamb, 6s. 3d.; halfbred wethers, 9s. 6d.; fat cows, £4 125.; light, £4 2s. Oil.; forward cows, £3 165.; fat cows, £5 Bs. Gd.; speyed heifers, £5 55.; weaners, 135.; store cows, £2 175.; bulls, £2 25.; two and a half-year steers, £3 10s.>; cull cows, 30s. to £2 55.; cows in milk, poor, £2 ss. The New Zealand Loan and Mercantile Agency Company's market reports for tho week ending Juno 11 are as follow:—At Apiti, on Tuesday, we had a small yarding of snoop and cattle. All classes of sheeD sold well. Quotations:—Wethor lambs, Ss. Id.; two-tooth wethers, lls. Id.; full-mouthed ewes, inferior, 6s. 16d., 7s. 3d.. 7s. 7d., to 85.,; cull ewes, 45.; wcaner steers, 265.; yearling heifers, 255.; store , cows, 3Gs.; springing cows, £4. Sundries made late rates. At Peilding, on Friday, wo had a medium yarding of .sheep and cattle. A bet-, ter tono prevailed, and competition for all' classes of sheep was koen, lambs selling oarticnlarly well. Cattle made late values. Quotations: Good lambs, Bs. 7d. to 95.; aged ewes in lamb, 9=./store wethers, 10s. Id.; forward wothers, 12s. 2d.; weaners, 18s.; store cowg, 205.; forward cows, £2 Is.; dairy cows, £6. Messrs. Abraham and Williams, Limited, report:—At Levin, on Friday, a yarding of close on 2000 sheep met ->-ith good compotition,, and a total clearance of every line was effected nt satisfactory prices. A full entry of cattlo also met with a keen demand, and very few lots went out unsold. Bidding for all classes of stocV throughout ■ tho sale was brisk, and a batter torio generally was apparent. The following are the prices realised: A good line of 400 four and five-year breeding ewes made 13s. Id.; mixed-aged breeding owes. 9s. lid, to lls. 6d.; arod unconditioned breeding ewes, ss. to 6s. Id.; fat ewes.-Us., lls. 9d., to. 12s. 4d.; fat eives and withers, 12s; 9d.; forward ewes, 9s. 7d; to 9s. lid.; forward weihers, 12s. 10d.; halfbred wetlisrs, lls. 3d. to lls. Gd.; fat lambs, Ss. 6d.; storo lambs, 6s 10d.; fat cows, £4 3s. «d. to £1 17s. Cd.; fat-heifers, M 3s. to £i 12s. 6d.; forward cows, £3 'Bs. to £3 135.; storn cows, £2 to £2 17s. Grl. s three-year steers, £3 18s. Gd.; two and a half-year steers, £3. 75.; •iirhtoen-months steers, £2 lls.; low-conditioned ejjihteon-months steers, 265. Gd. to 305.; eiirhtoen-months heifers, 315.; dairy cows, just calved, £5.t0 £7.5?.; springing hoifers, £5; Jorsey heifers in calf, £5 3s.

Messrs. Dalgety and Company, Limited, report:—At our FeiUlint! sale yesterday there was a very fair entry of slrcep and cattle, and prices were very (rood for vendors. Small mixed lambs, 7s. 2d.; pood .wether lambs, to 83.. Bd.;' aged ewes in lamb,' 7s. Bd.; mixedaged ewes in lamb, 12s. 7d.; {at and forward jwes,''to 10s. 10d.; two-tooth wethers, to 11s. id.; oiffhteen-months stcors. .£2 135.: two-year steers, £3 3s. j spring heifers, ,£3 10s. to £4 7s. 6d.; empty etoro cows, £2; forward cows, to £3 IOs.; two arid a half' and three-year speyed heifers, £3 10s. Gd. Messrs. Dalgety and Company, reporting on their fortni?htly sale, held at Dannovirko yesterday, state that thcro was a good entry of 6heep and cattle, and a largo attendance of buyers, all lines finding .purchasers. Quotations :— JW-tooth to fresh-mouth ewes in ltirab, 10s. to 12s. 5(1.; woolly hoggets. 9s. Bd.; mixed-hoggets, 83. 9d.; two-tooth wetbora, 11s. 4d.; aged ewes, 55., Gd. to ss. 7d.; fat cows, 88s.; forward cows, GOs.; heifers, for factory profit, 7Gs. to 82s. 6d.; threo and a half-year wers, 905.; two-year steers, 6Ss.; store cows, 535. , : .; Mr.-Newton King's weekly salo report is as follows:—At TJrenni, on Monday, weancrs made 15s. 6d. to ,€1 25.; 15 to 18-months steers, £2 ls.-tp.wE2 9s. Gd.; empty heifers, .£1 14s.'to £2; heifers in calf, £3 is.; springing heifers, £i 75.. Gd.. to £i 125.; store cows, £2 7s. to £2 95.; forward cows, £2 Us. to £3 Bs.; fat cows, £i 55.; fat heifers, it 2s. to £i Bs. Gd.; two-year steers, *G2 13s. Gd. to £3 Is.; bulls fl 10s.; slag, JC2 135.; full-month ewes, 10s. At Rahotn, on Tuesday, wcaners made 12s. to £1 Is.; cightecn-months steers. £2 55.; empty heifers, £1 Gs. to £2 is.; heifers in calf, £i ss. to £1; springing heifers,..£3 17s. Gd. to £5; store cows, £2 to £2 Bs.; forward cows,. £2 V\\?<P B . S l\t at C ° WS, ■** 5S - ! ,) " 11S ' £1 15Sto £2 10s, At Waiwakaiho, on Thursday, there was a full yarding of cattle, and a big attendance, of buyers, and nearly everything was quitted at the han)mor at tho following rates! Wenners, 13s. to .-£1 Is. Gd.; empty heifers, £\ 12s. to £2 ss. 6d.; heifers in calf, .£3 7s to £i; heifers, small, £2 10s. to £2 13s. Gd.; forward heifers, £3 ss. to .£3 165.; springing heifers, £i 17s. Gd. to .€5 155.; store cows, £1 11s. to £2 155.; forward cows, £3 Is. to £3 10s • cows in calf, £2 2s. Gd. to £S !25.; springin" cows, £1 to £5 103.; fat cows, ~£i 7s. Gd! to £i 11s.; three-year steers, .£3 6s. to £3 175.; bulls, £1 Bs. to £2 10s.

PROPERTY SALE. Ifessra. Levien, Shallcrass," and Company oftered several properties for auction at their land-mart yesterday. A property situated at Island Bay, with 90ft. frontage to tho Esplanade, and comprising ,a balcony house, trapshed, and stables, was sold to J. M. Bengo and (jortrude Harding for £700. Another property situated at Myrtle Crescent, sold by order of tho Registrar, was bought in by tho mortgagees at £850. property at Adelaide Road South was passed in, not having reached the reserve price. THE WHEAT MARKET. . (HI TELEQBArn—MESS ASSOCIATION—COPTEIdHT.) -p , London, June 10. Four cargoes of Australian wheat have been sold at 13s. IOJd., Us Ms. lid., and «s. 3d per quarter respectively. . - - SILVER. (ni TELBGEAPH—PBES3 'ASSOCIATION— COTOHanT.) _. ~ . London, Jnne 10. Bar silver u quoted at 24 3-lCd. per ounce standard. STOCK EXCHANGE. (BT TELEGRAPH—rEESS ASSOCIATION.) „, , t, , Dunedin, Jnne 11. Stock Exchange sales-.—Hartley and Rilev £1 2s. 6d.; Roxburgh Amalgamated (contrib')' <s. Gd ; Wnihi Extended, Gs. lOd. (two parcels Gs. IOSd. (two parcels); Waihi Grand Junction, w -I s -J^ , , ( m V ? P arcels )' Sales reported :- Waihi Consolidated, 3s. 3d., 3s. 31d.; Standard Insiirance, £1 '2s. 3d.; Wailii Extended, 7s; j'Waihi Grimd Junction, £2 Is. 9d.; Roxburgh Amalgamated (paid), Bs. e ' ■ DREDGING. (BY TELEQRArH—TEESS ASSOCIATION.) ~ , . , ', Dunedin, Juno 11. Dredging returns: Mystery Flat, 370z ldwt • Mtisterton, 3203. sdwt.; Lady Roxburgh, 23oz' 10( wt.j Waikaia 2Goz. lGdwt.; New Roxburgh' J llb {L c V?i M '". M,vt! 9 hica SO. IGoz. 2dwt. South Waikaia, 10oz. 9dwt. : , TALISMAN. Tho Wellington Stock Exohaiiße has received tho following telegram from Auckland :-Tho manager of tho Talisman reports having 60 nt the following cablegram to London:—'-'No 12 level south, progress 39ft., width reef 2ft values low." ~ '