COMMERCIAL.

Daily Telegraph (Napier), Issue 3725, 23 June 1883, Page 2

COMMERCIAL.

SHAREMARKET.

Since my last report the tone of the maikot.for all descriptions of investments has been quiet, and, in tho absence of speculation, prices have shown no marked fluctuations. This is especially the case with all the shares in tho principal dividendpaying public companies, with the oxcoption of New Zealand Shipping, which still show a slight downward tendency. With the close of tho financial year at hand, and with tho prospect of, I may say, a certain 10 per cent dividend on tho £5 paid up, firmer prices should be looked for. In petroleum companies' shares I have to report a slight decline in Pacifies owing to the engine not proving powerful enough to perform the work now required of it. A new engine has been ordered from America, and is expected to arrivo by the Zealandia with tho 'Frisco mail in July. Southern Crosses ramain steady. Mr Feslcr, tho new manager, reports the oil shown him from that company's works as far superior in quality to any he has met with during his American experience, and what is termed a ten barrel well would be of greater monetary value than many of the fifty barrel wells of America, and tho paraffin butter obtained possesses unusual richness. It is fortunate (says the Gisborne Herald) for the interests of the Southern Cross Petroleum Company, and also for the district, providing all things are equal, to have obtained the services of so practical a man as Mr Fesler. His experience in oil matters has been varied, and his opinion is thereforo worthy of consideration. Thero are many difficulties, however, to be surmounted before it will bo possible for the Southern Cross borer to mako a proper test; a fact ho is not unmindful of, for on interviewing him wo elicited the remark: "I do not anticipate being ablo to form a correct judgment under about thirty days." With this report I present ray clients with the accompanying tabulated share quotations:—

COMPANIES. DUSINESS LATEST PRICES. done. Buyers. Sellers. banks.— £ a. d. £ s. d. New Zealand ~ ~ 22 15 0 Colonial of N.Z. ..266276 National of N.Z. .. 3 1-10 INSURANCE.— Now Zealand .. .. a 14 0 3 14 6 National .. 25/9, 26/- 1 5 G 1 6 0 „ new .... 0 14 6 South British ~ .. 2 17 0 Union .. 24/9, 25/----cum. div. 1 4 G 1 4 9 Colonial ~ ~ 0 8 6 Standard .. 13/-, 013 3 Accident ~ ..064068 MISCELLANEOUS. — Napier Gas .. ... 10 5 0 Westport Coal.. 17/- 0 17 0 Kaiapoi Woollen .. 25 12 0 ~ new £11 National Mortgage .. .. .. 1 12 0 Col. Investment ~ 12 0 N.Z. Drug .. .. 14 0 N.Z. Shipping,, ~ 4 2 G Southern. Cross Petroleum ~ ~ 0 S 3 South Pacific 1/9, 2/- 0, 2 0 Ho. Promoters 6/9, 7/- 0 70 W.. G. MpTLEY.

(By Cable.)

London, June 21. Consols,have fallen one-quarter, and are now quoted at 100 J. New Zealand securities remain at yesterday' s quotations. ' The total reserve in notes and bullion in the Bank of England is £12,700,000, an increase of £800,000 compared with, last week. The proportion of reserve to liabilities has further, advanced 1 per cent," ahdisnowll. Sydney, Friday. New Zealand wheat has advanced to 4s 3d ; New Zealand oats have further fallen Id, and are now quoted at 2s Id; maize remains at 2s lid, and sugar,. Company's No. 1 ,pieces, at £35 per ton. Adelaide, Friday. Wheat is quoted at 5s Id, with market steady ; town flour por ton £11 10s to- £11 12s Gd, and country brands £10 5s to £10 10s.