Finance Stocks And Mining

Free Lance, Volume V, Issue 216, 20 August 1904, Page 5

Finance Stocks And Mining

THE London money maiket continues stungent, and the open market discount iate was again on a parity with the bank iate. If this means anything at all, it means that the Bank of England discount rate will advance eaily in September, instead of Octobei , as was, the case last year. The shortage of the wheat crops, and the continued labour disturbances in the United States aie adverse factors, while the wai in the East, with its possibilities, is exercising a depiessing effect. As yet, there is no serious upward movement in trie rates locally. » • * The advance made by the banks, and noted last week, is a minor one, which should not have any senou Si results. The position with us is more distinctly dependent upon the export and import returns. The figures for the past quarter are not on the up-grade. Ine exports decreased by £477,573, as compared with the con espondmg quarter or last year. As against this, the imports' of merchandise exhibited an increase of £38,303 * * * The second annual statement of accounts of the Mauriceville Lime Company was issued during the week. According to the leport, after making provision for depieciation of plant and "buildings, and writing down the value of leasehold property, the net profit available amounts to £619 2s 3d Out of this a dividend at the rate of 8 per cent., which will absorb £483 18* lOd, is to be paid, leaving £135 3s od to be earned forward During the year the directors issued 450 shares, fully paidup at a premium of 5s per share, and the total piemium so derived, amounting to £112 10s, has been applied in reduction of piehminary expenses account, which now stands at £87 10s. * * * The balance-sheet figures* show Fi eehold property and plant and buildings, at £5104 11s lOd, leasehold pioperty, £2193 15s 3d, lailway siding, £330 11s Bd, sundry debtois, £465 7s 8d stock on hand, £230 The capital of the company paid up is £6450, and there are loans on mortgage amountang to £31,3 12s. The manufacturing profits foi the yeai totalled £865 5s 2d, and the expenses under all beads amounted to £371 14s sd. Thas company is doing very well indeed, and the piospects are excellent. The fact that the directors have been able to sell 4jU shares at a premium of 5s is evidence ot the confidence of investors. * * * Messrs. J. H. Bethune and Co., local agents of the Sun Insuiance Office, forwaid the company's balance-sheet for 1903 Ac-cording to this document, the premiums leceived, less re-insu rances, amounted to £1,222,666, being sui increase of £14,000, as compaied with 1902 The losses paid and outstanding is stated at £622,026, being equal to 50.87 per cent, of the premium income. The expenses of management accounted for £423,208, or 34.61 per cent, of the premiums. The income from investments duiing the year totalled £85,983 The total profit for the year, including the amount brought forward, was £349,859, and the shareholders leceived dividends equal to 9s 6d per shai c. The net loss of the Sun Office in the Baltimore fire was about £100,000. The investments of the company amount to £2,331,268, and there is an investment reserve totalling £42,245. * * * The city was much disturbed last week by reason of the football match, in which a vast amount of interest was taken. On Friday and Saturday business was more or less neglected, and the sharemaiket was, in consequence, affected. The business done last T\eek and in the past few days has been exceedingly small. It is, however, satisfactory to note that brokeis have plenty of buying orders. In bank shares, the demand is still good, although Nationals, at £4 16s show an easier tendency. New Zealands a,re firm at £5. Financial shares are weak, the only call being for Wellington Tiust and Loan shares, which are wanted at £6 18s 6d, sellers asking £7 2s 6d. Other building shares would sell at curient rates were they available, but sellers aie scarce. ■* * * Insurance shaies are quiet. Nationals aie wanted at 225, and Standards at 18s 6d. Other insurance shares are not procurable. It is probable that in-

vcstois aie awaiting developments with the State Fue Insuiance Depaa-tmeint. * * * Meat shaies are very much neglected, foi the obvious reason that the meat companies are not doing so laige a business as in the past yeai. There ane sellers of Gear Meat shares at £1 17s 6d, New Zealand Refrigerating, at 30s , and Wellington Meat Export (£2 12s 6d paid) at £3 6s 6d ex dividend. * < * Manawatu Rails aie wanted at 29s (kI, sellers asking 30s 6d New ZeaJaoid Shipping axe offeied at £6 12s 6d', and Mosgiel Woollens at 80s. Wellington Woollens are in request at £5 3s, and Westport Coal shaies at £7. Theie are sellers of Leyland and O'Bnen Timber shares at £2, Manning Brewery shares at £4 3s, Ward Biewery shares at £4 15s, and Sharland's ordinal y at 22s 6d. Mau/nceville lame shaies arc wanted at 265, but the dividend now announced should push them up a little * * * The di edging returns of the past week show very well, there being quite a number of three-figure leturns. This should bring about some improvement on the Exchanges. Waihi Extended shares aie keeping firm in the neighbourhood of 9s, and fluctuations may be expected as the reports respecting the leef are good or bad. * * « The output of gold during the first seven months of the year shows that Victoria produced 468,000 crude ounces, as compared with 455,213 ounces in the corresponding period of last year. The West Australian output was 1,370,441 ounces, as against 1,434,260 ounces

We read of love, we read of war, Of val'rous deeds and mystic lore. But then, we've read it all before; And yearn for something newer. There's nothing fresh, the world is stale, And weary as a twice told tale. Yet stay ! when coughs and colds prevail, There's Woods' Great Peppermint Cure.