Finance Stocks And Mining.

Free Lance, Volume X, Issue 468, 28 August 1909, Page 8

Finance Stocks And Mining.

THE continued ease oi tho London m >ncy maiket is astonishing Theie is a plethoia of loanable ciedil, and, although the capital applications are on am expanding scale, aull demands aie iuiily me., and there is plenty to spare. In. Barlm, Pans, and Slew Yoak pi actually the same conditions pievaoJ, and this cheapness of money, which ie leading to extensive borrowing, must pie&emtdy ikave a beneficial effect on trade and commerce. Already tlieie aie very marked indications of an impioycment. In America, nheie the finianciad tioubles commenced, a pronounced change has come about. The bank clearings are larger, showing that more business is being done, the raikoad earnings aie growing, and in several industries, notably tiho iron and steal 1 tiades, production is neaily up to the full capacity of the miQjls. The textile trade i> improving, iso also is the lumber trade, whale building operations are mcreasIn Great Britain the tiade statistics show a decided change for the better, and pig-iron, that inntfailang oommeacial barometei , is 1 ising m price, showing tihait there is a good deanamd for the crude metal. Another good feature is the shrinkage nn business mortality. The number of banki uptoies in the United States and Canada, and in Great Butam, is very much Less now thar> a year ago. » « There is accumulating evidence that the pendulum is swinging towards prosperity, and, in this leopect, New Zealand must participate m tilie good time* Increased miidustnal) activity m Groat Britain must result m expanding tihe purdnasiJig power of the artisans and medharu.es, who, m the long ran, are the pnncipal cm aisumeis of our pioducts. Wt aie therefore safe in saving that the ■* alurs of the bulk of cur prrxkicts will steadily advance. • # * Locally, there ib veiy ihttle to complain about. Tihe situation has improved wonderfully. 'Money is moie plentiful, and i rally ample funds aie available to meet alii! .legitimate demands. Next month we enter upon tihe piofit-takrng period and, with the shipments of butter and cheese, wool, meat, tallow, hides skins, and hemp, money should come roillmg in. We have leas to pay for m the way of unpoits • * * With respect to the markets, it is interectmg to note that hemp us again on the move. The maiket is fiim, but high prices aie checking business. It cannot be said that £26 per ton is a high pi ice, m view r£ the prices realised in the past Stiflll £26 is a great improvement on what has been paid recently. The ttorxl market looks heaitny, Bradford Tnp> aie very fiim, and there is this hope that the September sales will see the staple at a good price. The frozen meat maiket shows a further slight drop m values, .Lambs in particular being seriously affected • • • The dairy season will open next month, but dealers exhibit no eagerness to conclude contiacts. liast rear several engagements- were entered into, and the dealers paid heavily for then want of foresight. It is evident that no mistake :& to be made thus year. The price to the dairymen wilH, however, stall be a good one, even if it is a penny or so lower than laot year. The report of the directors . of the Kaiapoi Woollem Maniufacturimg Company for the year ended July 31st shows that, after making piovision for depieciatoton, repairs, and reserve, theie is sufficient available- to enable the directors to declare a dividend of 7 pei cent, on ordinary shares, a.nd 6J per cent, on nreference shares. It is stated that the- stringency of the money maiket limited the applications for new shaies. The dnectons hope, howevei , to receive an increased number of applications during the present year. The sum of £2241 has been expended in repairs to plant, and £4000 provided for depreciation. The stock has been carefully taken, and, though larger than usual, is good value. Provision has been made for all bad debts. After paying the above dividends, and adding £1500 to the reserve, the profit and lo«ss account shows a balance of £841 7s Id, which is to be carried forward. The profits for the year, including £1432 7s lid brought forward, amounted to £11,722 Is Id.

The leport of tthe Norwich Union Fire Insurance Society for 1908 states "that the net ptemiuni income amouinfted! to £1,101,.5U4 12s lid. The losses paid and outstanding were £661,434 17s 3d, boing 60.05 per cent, of the piemiums. After setting aside one-thiird of the piemiurns (£367,168) as a reserve agani/t liabilities on policies not iun off, the balance at the credit of profit .iiid loss account, including £308,967 b' ought forward fiom the previous yeai , Uvtials £428,932. The dividend for the year is 25s per share, slightly more th-an 40 pei cent., and the amount cained forward rs £373,932. • «• • Investment shaies have been quiet, but not ais quiet as duininig last moontih. Moie business ibas been done, but m a fitful way. Bank of New Zealand shares have been in steady demaund at £9 4s 6d, and National Banks at £5 7s 6d. Financial shares Suave been neglected. Woillimgton Investment, 'sellers lls 9d , Nat on a I Mortgage, seffleis £3, New Zealand and River Plate, buyers £1 14s • • • Insurance shares have been in fair demand, but scarcely any business has been done. National Inisuiramce, buyers £1 8.? Gd ; New Zoialamd Insurance, buyere £3 15s; South Bntasih Insurance, l)uyer.s £2 12s, sellers £2 14s, Standard Insurance, buyers £1 3s 3d. FeJding Gas, buyers £1 Qs 9d ; G-is-borne Gas, sellers £2 lls 9d , Palmenston North Gas, sellers £7 15s ; Hokitika Gas, sellens £5 15_s. Meat shares are very quiet. Christohuroh Meat, buyeis £10 10s- Gear Meat, £4 paid £10 6s, £1 paid sa.les £2 12s. • ♦ « Other shares are quiet The spurt m Coals has died away. New Zealand Shipping, buyers £7; Union Steam, sellers £1 14s 3d; WeHwigbom. Woollen, buyers £2 19s 6d, sellers £3- Westportl Stockton XZ/n-al, selT'e-rs 7s 3d; Donaghy Rope and Twine, buyers £1 ; Leyland and O'Brnon Timbnr, .selOiers £1 2s Taianaki Petroleum sihares are steadily improving, owing to tih© more favouiablle developments Buyers are now offering 9s, without any chance of sreuTai,g. • • m The mininis; market is still easy, amd if Auckland is not careful a good many people wffl drop out. Mamy speculators here have got the notion thai some of the _ shiarebrokers up North are speculating in mining iscrip, and 1 they are afraid the market may be rigged' to suit their pui poses.

A bught young Kaffii, just foi fun, Sneezed down the ban el of a gun ; And just to see how things would go, He piessed the tnttgei with his toe. A basketful of his lemains Was gatheied from adjacent plains; And now his tube, you may be suie, When they have colds use Woods' Peppermint Cine.