FINANCE STOCKS AND MINING

Free Lance, Volume XVII, Issue 915, 25 January 1918, Page 8

FINANCE STOCKS AND MINING

npHE -Minister of Finance has an- : nouhced that in March he will ask the public -to furnish him with £10,000,000 for war purposes. That means that he wants £10 from every man, woman, and child on the average. This is a; big task for the country, but if the people look at the matter in its true light and each one does his or her best to help, the money can be easily found, because the Dominion is very prosperous, and will continue to prosper. The capitalists, the big joint stock corporations, and the financial institutions will no doubt once more find the greater part of the money., and we may safely credit the wealthy classes .with doing their share, but will the people generally do. as much as they can and ought to do ? # * 2» # The time has come when the people with limited means must be compelled to ta-ke an interest in the war loan. Compulsion does not mean taking from them by Act of Parliament, but by offering them such inducements as will force them to unloose their purses. The, war certificates are not. sufficiently attractive; they do not supply that thrill which will alone awaken the people. One gets a thrill with a surprise packet, and, as as a means of obtaining funds for patriotic, purposes, surprise packets are easily the best scheme yet introduced. Why cannot the same means be employed in respect to the loan? Let us have the thrill and the excitement which" can be easilyt provided by issuing premium bombs, which are used extensively in France. # * * * One matter for congratulation is that the loan will be issued at an opportune moment. At the end of March the cold stores will have been cleared of all last season's produce, and a very considerable portion of the current season's produce will also have been shipped by then, consequently .there should be very large amounts lying idle. * * # * The Imperial purchases, with the magnitude of the operations, and what the farmers are to get are flung at the people at almost regular intervals, until one is tired of seeing the matter in

print. It would be much, more interesting if Mr. Massey would tell the country what the National Government has done to check exploitation and to bring about a reduction in the cost of living. * * * * There is nothing in the Bank of England return to call for comment. British finance is quite satisfactory, and there is also steadiness in Stock Exchange values. The trouble is in the food products section. Last week there was no distribution of butter or margarine, which means that civilians were denied these goods. Wheat, flour, oats, peas, beans, and sugar were 'in short supply with, prices at a high level Food prices in Britain increased 100 per cent, at the end of 1917 as compared with July, 1914, while the increase since July, 1917, is very little. Part of the" advance must be attributed to the U Boat campaign, for many a cargo of foodstuffs intended for Britain has been sent to the bottom of the sea, but the principal cause of the shortage is the diversion of tonnage from ordinary trade purposes to purely military duties.. « # ■» o The British are suffering from meatless days, which at first glance may appear to be due to the work of the submarines. This, of course, is not the case. All the available meat, or at least the most of it, is wanted for the fighting men at the Front, and that is where it is going. However, frozen meat from Australia and New Zealand can be sent in plenty if the tonnage were available. A good deal of meat has already been sent, and during the next two or three months considerable quantities should be available in Britain. * # * * Wheat and flour are both very dear in Britain, but the difficulty in respect to breadstuffs is within sight of solution. America is realising 90,000,000 bushels of wheat to'meet the shortage, and in Britain itself three million acres additional have been sown in the cereal. Never in living memory has so much wheat been sown in England as was recorded last autumn. Australia, India, and Argentine are sending a good deal of wheat also. * * * # Competition was not keen at Burnside for fat cattle, and prices declined about 20s per head. Extra priine bullocks £22 2s 6d, best bullocks £18 10s to £20, medium to good £14 to £15 10s, extra prime cows and heifers to £18. best £14 to £15 10s. medium' to good £12 to £13, others from £10 up. The Addington prices were: Extra

prime bullocks to £23 12s 6d, prime £16 10s to £20 ss, ordinary to £16. extra prime cows to £18, prime £12 10s to £16; ordinary £10 to £12, prime heifers £11 to £15, ordinary heifers £9 17s 6d to £10 10s. At Otaki, fat cows made £10 6s to< £12 : ; at Waikanae. £9 to £10 6s; at Taihape. £10 18s; at' Levin, £9 15s to £12 10s; at Raiimai, £10 los; at Carterton, £9 12s to £11 was obtained for fat heifers, and £10 to £13 os for fat cows; at Te Horn, fat cows realised £10 17s to £11 10s: at Feilding, £12 5s to £12 13s; and at Palmerstcm North, £10 6s to £12 13s. At Westfield. the prices • were: Fat steers £11 to £26 2s 6d for extra prime, and cows and heifers £9 to £16 17s 6d. ■ •' " o e « & At Burnside. the prices for fat sheep advanced about a shilling per head. Extra prime wethers made up to 44s 9d, best wethers 39s to 42s 6d, medium to good 35s 6d to 375, extra, prime ewes to 40s, best ewes 36s to 38s 6d. medium to good 32s to 345, others 28s up. At Addingtqn, extra prime wethers realised up to 40s, prime wethmedium 28s 6d to 31s 6d, lighter 22s ers 32s< 6d to 36s 6d, lighter wethers 28s 4d to 325, prime ewes 32s to 34s 3d. to 28s. At Levin, medium fat wethers made 29s 6d and fat ewes 295: at Feilding. light fat ewes 275; at Palmerston North, 28 S to .28s 6d. At Westfield, best heavy prime wethers made 38s to 40s, medium 34s to 37s 9d, lighter 27s to 30s 6d, heavy prime ewes 31s 6d to 335, heavy ewes 25s to 30s, others 18s to 23s 6d. * * * * There was a drop of 2s to 2s 6d per head in the prices for fat lambs at Burnside. Extra prime lambs made up to 325. best lambs 28s to 30s, medium to good 24s to 265, others 21s up. The prices at Addington were: Prime lambs 26s 6d to 29s 2d, lighter lambs 22s 6d to 265. At Feilding. fat lambs realised ~23s 6d. The Westfield market prices were: Best prime lambs 24s to 265, good 21s to 235, lighter 17s to 21s. * * * * At Addington, choppers realised £4 to £6 10s, extra heavy baconers £6 to £6 4s, heavy baconers £4 15s to £5 10s. lighter baconers £4 to £4 10s, porkers £2 15s to £3 4s. At Carterton, porkers made 30s to 60s for heavy sorts. The prices at Westfield were:' Choppers and heavy baconers £5 to £6 12s 6d, light baconers £4 to £4 17s 6d. large porkers £3 to £3 los, medram 50s to. 58s, light 33s to 48s. * * * * Investment shares are steady. Bank of New Zealand (old) buyers * £12 3s, (new) buyers £17 3s; National Mortgage, buyers £3 18s; New Zealand Loan and Mercantile (ordinary stock), sellers £83; Wellington Investment, sellers 11s; Wellington Deposit, buyers 6s 9d; Wellington Gas (ordinary), "sellers £12 los, (preference) sellers 18s 6d; National Insurance, buyers £2 19s; New Zealand Insurance, buyers £8 2s 6d: Gear Meat (£1), buyers' £4 15s; Union Steam (preference), buyers £1 Is; Kaiapoi Woollen (ordinary), buyers £6 17s 6d; Wellington Woollen (ordinary) buyers £6 los, (preference) buyers £4 2s; Hikurangi -Coal, sellers 11s: Westport Coal, buyers £1 10s; West-port-Stockton, buyers 9s; Waipa Colliery, sellers 18s f Manning and Co., buyers £3 3s; Sharland's (ordinary), buyers £1 7s 6d"; W.F.C.A. (£5). buyers £6 ss. * * * # In the mining market there were buyers of Blackwater Mines at 11s, Talisman at 9s 9d, and Waihi at £1 17s 3d.