FINANCE STOCK AND MINING.

Free Lance, Volume XIV, Issue 722, 2 May 1914, Page 5

FINANCE STOCK AND MINING.

THE Bank pf England return last week disclosed the fact that gold was again flowing into the central institution, the gain in the metal reserve for the week being £643,000.' The rates for money show no changer except that ' three months' bills are a shade higher. Under normal conditions the money market, should show extreme easi.ness during the next few days, but the danger is that the conditions will not remain normal. * * * * The outbreak of hostilities between the United States and Mexico _ puts a different complexion on the situation. This must affect the money markets of , the country, and this will necessarily react on London, for .it is very likely that America will need large amounts .in gold for war purposes. The disturbance will not be felt just yet, but in the course of a few months, unless there is a complete collapse in Mexico, the stringency will make its appearance. * * * * The war is also likely to affect freights as a considerable tonnage of British shipping will be .needed . as transports and colliers: This withdrawal of tonnage must react favourably for shipowners. There should also be a demand for coal and possibly for food-stuffs,.. and with respect to the latter Australasia should be able to 'do some profitable business. ' • * * * * The sixty-fifth annual report of the Australian Mutual Provident Society is as entertaining as any of those previously issued. ' Once more the society is able to report a record increase in business in both the ordinary and" industrial branches. In the ordinary department 24,328 policies were" issued, assuring £7,029,635, at premiums amounting ta £226,248 per annum, and the industrial department issued 30,037 policies, assuring £1,125,396 at premiums totalling £72,002 per annum. The net increase in business in. force been 13,919 policies for £4,131,537 in the ordinary department, and 18,064 policies for £661,848 in the industrial department. • * * * * Claims by death in the ordinary .department amounted to £967,125, of which about £322,103 was bonuses. In the industrial department the claims, including bonuses, amounted to £8829. The report of the actuary discloses a cash surplus of funds over liabilities amounting to £1,180,881. Out of this the board has resolved to distribute • £975,881, which will produce reversionary bonuses amounting' to about £1,730,000. In the industrial department there is a surplus of £9205, part of which will .be distributed as bonus to policy-holders. The effective rate of interest has risen from £4 12s. 5d per cent, to £4 13s 8d per cent., while the expenses of management in the ordinary department have been, reduced from 13.76 per cent._ to 13.51 per cent, of the premium receipts. * * * * The London wool sales, the April-May series, commenced on Tuesday, and, as anticipated a there is a firm market with an appreciable advance in some descriptions of wool. Bradford tops have hard- , ened during the past week or two, clearly indicating that there is a demand for the'staple. Continental buyers are again operating freely, the demand from that qtiarter being influenced by the military requirements. . The rise in wool will bring relief to many speculators who lost rather heavily last yean * * * * There is a very persistent rumour in Wellington, that the American - Beef Trust has acquired an interest, if it has not bought outright, a southern freezing company not located in Canterbury. It is well known that a representative of the Trust was in New Zealand a few weeks ago and he was not touring the country for the benefit of his health. He operated very freely in Australia, and it is believed he has done as well in New Zealand. * * * * Fat cattle and sheep continue to command excellent prices. At Johnsonville, prime heavy bullocks made £12 7s 6d to £12 17s 6d, prime bullocks £12 to £12 2s 6d. At Addington the prices were— fat steers £8 5s to £11 10s, extra prime to £14 10s 6d, prime heifers £6 2s 6d to £9, extra prime to £11 10b, prime cows £5 5s to £10 7s 6d. At.Burnsider best bullocks brought £11 10s to £12 10s, extra prime to £15 7s 6d, medium £9 5s to £10, ( light £7 15s to £8 10s, "best, cows and heifers £7 to £8 10s, extra prime to £10 10s, medium £6 to £6 10s.

At Johnsonville prime wethers realised ,21s od, crime heavy ewes 19s lOd, prime 'ewes 18s to 18s lOd. At Addington the prices were—prime wethers 21s to 245. extra prim© to 25s 6d, medium wethers 16s 9d to 20s 6d, prime ewes 17s 6d to 235, extra prime ewes 25s 6d, medium ewes 14s 6d to 17s. light and unfinished lis 7d to 14s. The prices realised at Burnside were —best wethers 21's 6d to 235, extra heavy to 31s 6d, medium 19s to 20s, light 16s 6d to 18s, best ewes 17s 6d to 18s 6d, extra heavy ewes to 25s 6d, medium ewes 14s to 15s 6d, inferior i2s to i3s: * ■; . • * * * . * At Johnsonville .prime lambs realised 17s to 18s. At Addington tegs made 18s 6d to 22s 6d, average weight lambs 17s v4d to 18s, light' and unfinished 14s Id to 16s 4d. At Burnside best lambs sold at 18s to 19s, extra prime to 20s 9d. medium 15s to 16s 6d, light and unfinished 13s 6d to 14s 6d. * * * * Investment shares continue very' firm. • Bank of New Zealand (£6 13s 4d;, buyers £16 2s 6d; Equitable Building, buyers £9; Metropolitan Buildine. sellers £12; Wellington Investment, sellers lis 3d ; Wellington. Tnist and Loan, buyers £7 7s: Christchurfch Gas. sales £7; Gisborne Gas, sellers 42s 6d; Wellington Gas (£lo)_j sales £16 7s 6d; Wellington Gas, preference, buyers 19s 6d. * * * * New Zealand Insurance, sellers £6 2s 6d; Gear Meat (£4), buyers £14 7s 6dUnion Steam, ordinary, buyers 255, sellers 25s 6d; Union Steam, preference, buyers 20s 6a; Kaiapoi Woollen, ordinary, buy era £5 6s, preference, buyers £5 ss; Wellington-Woollen, ordinary, buyers £4 Is 6d, preference £3: • WestportStoekton, sales 3s' 3d ; Leyland-O'Brien, sellers 23s 3d: Golden Bay Cement, buyers 18s; Sharland's ordinary and preference, buyers 22s cum dir. * * * * , The mining market is'dreadfully quiet, very few shares are quoted, and business is very much restricted. Prices are very low —low enough to tempt speculators.