COMMERCIAL.

New Zealand Herald, Volume XLIV, Issue 13625, 19 December 1907, Page 3

COMMERCIAL.

The sharcmarkei was active again yesterday. In investment lines Auckland Tram- • ways (ord.) sold at 24s lOd, sellers closing at :255, buyers at 24s Bd. Grey and Menzics (prof.) sold at 12s. In mining linos New Sylvias changed hands at Is 2d; Thames at Is 2d; Victorias at Is 7d; Waiotahia at 3s Id; Watchmans at B£d; Old Haurakis at 2s; Comstocks (con.) at lOd. There was a smart rise in Champions, paid-up selling at 5s 2d and 5s 3d and contributing at from 4s 3d to 4s 9d to 4s 8d to 4s 9d to 4s Bd. Crowns wcro done at 7a 9d and 7s lOd Golden Belts at 2s lid; Kirikiri (con.) at 4£d; Karangahakes at from Is 6d to Is 7d to Is 6d to Is 9d to Is 8d; New Waitekauris at 7d; Taihoas at 6d. Tairua Broken Hills were firmer, selling at from 4s 4d to 4s lid to 4s 9d. Tairua Extendods sold at 4d; Tairua Triumphs (ooa.) at 2s 3d. Talismans were done at 52s 6d, with more buyers at •that price, sellers 53s fid. Waihis eased, with sales at £8 8s 6d and £8 Bs, sellers closing at £8 9s and buyers at £8 7s 6d. Aupouris sold at. 5d and 4id. "

AUCKLAND STOCK EXCHANGE. BUSINESS DONE YESTERDAY. Previous day'* closing sales. £ 8. d. Auckland Tramways (ord.>-2nd call, 24s lOd 14 9 Grey and Menzies (pref.)—2nd call, 12a — New Sylvia—3rd call. Is-2d 012 Thames—3rd call, Is 2d 014 Victoria—2nd call, Is 7d ... .017 Waiotahi—2nd call, 3s Id 0 3 1 Watchman— call, B}d — Old Hauraki—3rd call, 2a ... ... 02 0 Cometoek (con.)—3rd call, lOd ... 0 0 10* Champion (paid up)—2nd call, 5s 2d; ' 3rd call, 5s 2d, 5s 3d 0 4 3 Champion (con.)—lst call, 4s 3d; 2nd cull, 4h 6d, 4« Bd, 4s 9d ; 3rd call. 4a Bd, 4s 9d, 4s Bcl — Grown—lat call, 7s 9d ; 3rd call, 7s lOd ' 0 7 9 Golden Bolt—2nd call, 2b lid 0 2 11 Kirikiri (con.)— call, 4id — Karangauake—lst call, Is 6d; 2nd call, Is 7d; 3rd call, la 6d, 1* Bd, la 9d, Is 8d 0 16 New Waitekauri—2nd call, 7d ... — Taihoa-3rd call, 6d 0 0 6i Tairua Broken Hills—2nd call, to 4d, 4s'6d, 4a 9d, 4s lOd, 4a lid; 3rd call, 4s 3d 0 4 4 Tairua Extended—3rd call, 4d — Tairua Triumph (con.) — call, 2s 3d 0 2 3 Talisman— call, 52s 6d 2 13 6 Waihi—lst call, £8 8s 6d ; 2nd call, £8 as 8 9 6 Aupouri—lst call, 5d ; 2nd call, 4sd, 5d ; 3rd call, 4Jd 0 0 44 CLOSING QUOTATIONS.

CALL AND DIVIDEND LIST. Dividends. Kauri Timber Co. — Now Mount Lyell Mining and Railway Company 0 2 0 Now New Zealand Loan and Mercan- ' tile Agency Company ... — Now Talisman Consolidated ... 0 1 0 Dec. 21 Calls. Magnet, November 26 0 0 1 Now Waihi Beach, November 14 ... 0 0 1 Now Old Hauralti Gold Mines. Dec. 10 0 0 1 Jan. 15 New Maratoto. December 9 ... 0 0 0i Jan. 16 Rising Sun, December 10 ... 0 0 1 Jan. 15 NORTHERN SALES. The Auckland Farmers' Union, Ltd., successors to Messrs. Wakelin, ' Crane, and Co., report as follows:—At Kamo on the 10th inat. we submitted an average yarding of fat, dairy, and store cattle to a fair attendance of buyers. Prices, on the whole, were better than those ruling at the previous month's sale, attributable, no doubt, to the flush of feed following the beneficial rains of late. Prime beef steers brought from £7 15s to £9 ss; lighter weights, £5 10s to £6 10s; cows, £3 15s to £6. Dairy cattle were in poor demand, and all but young, good cows, close to their profit, were hard to quit. Three-year-old store steers fetched from £4 10s to £5 5»; two-year-olds, £3 to £3 12s 6d; 12 to 18 month steers, £2 5a to £3. Heifers from 18 to 24 months old were in demand, consequently prices hardened for that class, and we quote them from £1 15s to £2 10s; young, fresh cows, £210 a to £3 10s : calves, steers £1 to £1 10s, heifers 15s to £1 ss. At Whangarei on thejllth inst., the yards were full, most of the cattle penned being steers of splendid quality and in good condition, ranging from two to four years old. Competition was good, and all the stock, with the exception of two pens, was quitted. Grown steers, in good condition, sold from £5 10a to £7 ss; three-year-old steers, £4 10s to £5 10s; two-year-olds, £3 to £3 12s 6d; 18 to 20 months old, £2 12s 6d to £3 3» ; yearlings, £1 15s to £2 10s: calves, steers, £1 to £1 10s; heifers, 15s to £1 7s 6d. We have to report good business during the past month in both live stock and properties.

Messrs. Hunter and Wilson report:— Hikurangi monthly sale a fair muster of cattle sold at ruling values. At Wbangarei monthly Bale about 900 head of cattle came forward, and were required, few lots failing to sell. Fat cattle were dull of sale. A line of prime steers changed hands privately at ftpm £6 10s to £8 10s. About 80 dairy cows and heifers were yarded, which sold freely, ranging from £3 to £7 10s. The cows in milk from Mr. Geo. McConnell %old from £3 to £6; 12 Jersey heifers, from Auckland, £3 5s to £6 2s 6d; bulls, in keen demand, £4 5s to £9 9s; three to four year old steers, £4 14s to £5 10s; two to 2i year old steers, £3 5s to £4 7s; one to 1J year year-old steers, £2 4s to £2 15s; store cows, £2 7s 6d to £3 ss; one to two year-old heifers, £1 10s to £2 10s; calves and mixed yearlings, 17b to 365; shorn hoggets, 12s 3d; do. ewes, with lambs, 23e W each. A line of 2& 2i i iftiir-old J*tfe»£«ohi.priyflteJx at £3 tat • '

BRITISH TRADE. In an article on the increase of the bank rate to 7 per cent, the London Times of November 8 says:—"There is every reason to think that tho condition of London, and the United Kingdom generally, is sound. Business in theso islands has been very good for tho past three years, and oven now, though there are some signs of tho approach of a diminution in activity, the volume of production is still very great. Tho recent great increase in the value of money, however, is very likely to have tho effect of lessening tho demand for many classes of goods and preventing now contracts from being entered into. In any case, oven i! there had been no monetary pressure, it is hardly likely that tho trade activity of tho last tow years would continuo unabated. Many observers expected a slackening early this year, at any rate in the number of new orders coming forward; but it is always difficult to gauge the amount of economic energy which must be put forth in order to repair tho destruction of wealth which results from great wars. Tho monetary disturbances in 1873 were partly tho result of the feverish rush to carry out work delayed by tho Franco-German War of 1870-71, and make good the damage done by it. As regards our foreign trade, there appears at present to be no diminution of its vigour. Tho returns for October show an increase in the imports of 5.5 per cent, and in the exports of British and Irish produce of 15.3 per cent. Tho totals for the ten months show increases of 7 per cent, and 14.8 per cent, respectively. The figures, which are analysed in our City Article, show that the exports are still satisfactory as regards their composition, for out of th© total increase of £5,085,000 no less than £3,770,000 was represented by articles wholly or mainly ■manufactured; tho largest increase is, as usual, in cotton yarns and fabrics, which were £1,155,000 more than in October, 1906. Tho export of coal accounts for £1,218,000 of the total increase for the monthan increase which, though profitable, no doubt, to tho important section of the trado which supplies the class of mineral required for this purpose, is not so satisfactory from other points of view. But, on the whole, the returns aro remarkably satisfactory. Whether tho enormous volume of trade, both internal and foreign, which has been enjoyed by the United Kingdom during tho last three years has been proportionately as profitable as tho somewhat smallor amounts returned at previous periods of our history it is not easy to say. Many good judges think that it hasnot. More work, it is contended, has to be done to produce the same sum; but this seems hard to reconcile with tho undoubted increase in the holidays taken by both masters and men. It often happens, however, in industrial operations that, after a certain degree of development has been reached, increased gross receipts can be obtained only by a proportionately higher rato of working expenses, making the net return relatively lower. There 4is an increased absolute net return, but it is not got so cheaply."

AUSTRALASIAN EXPORTS OF WOOL. Tho following table compiled by the Sydney house of Dalgety and Co., Ltd., gives the wool exports for the season up to the 6th inst., compared with the corresponding period last year. 1907-8. 1906-7. State. Bales. Bales. New South Wales 378,128 286,043 Victoria 198.374 141,652 Queensland 78,540 64,344 South Australia 110,641 88,280 Wort Australia 26,013 21,700 Australia 791,696 602,019 New Zealand 65,63!) 67,904 Australasia 857331 669,923 Increase,, 187,408 bales. SYDNEY WOOL SHIPMENTS. For the week ended December 6, ten, vessels cleared the Sydney Custom* for the United Kingdom and foreign ports with an aggregate of approximately 43,712 bales. The vessels, with quantities for the week, and total to date, compared with last aeaeon, are as follows. Bales. Hyeen, Nov. 29, for Dunkirk and London 7,595 Goslar, Nov. 30, for Hamburg 11,054 Oroya, Nov. 30, for London 545 Bremen, Nov. 30, for Bremen ... ... 7,587 Persic, Nov. 30, for London 2,199 Dumbea, Dec. 2, for Marseilles ... ... 2,768 Pondo, Dec. 3, for Boston ... 166 Port Chalmers, Dec. 4, for Dunkirk .and London 5,740 Karonga, Dec. 4, for Dunkirk 5,078 Nikko Maru, Dec. 4, for Yokohama ... 980 Total since last review ... 43,712 Total Sydney and Newcastle from July 1, 1907, to Dec. 6 last 379,203 Corresponding period last year ... 330,848 Increase ~ ••• 48,355 Tho receipts by rail for tho week aggregated 31,508 bales, and bv boat 4807, as compared with 42,360 by rail and 7038 by boat the corresponding week last year, making a total increase for the season of 35,118 balea. The totals are as follow:— By rail— Bales. From July 1. 1907, to Dec. 6 last, at Darling Harbour railway station ... 513,811 Corresponding period last season ... 486,186 Increase ... ... 27,625 By sea— — • 'From July 1, 1907, to Dec. 6 last ... 90,612 Corresponding period last year ... .. 83,119 Increase ... ... ... 7,493

NEW ZEALAND;PRODUCE IN ' * LONDON. [FIIOM OTTR OWN CORRESPONDBNT.] London, November 6. WOOLLED SHEEPSKINS. Yesterday the seventh aeries of public Bales of woolled sheepskins of the present year took place, the quantities catalogued being 5187 bale*, Now Zealand being represented by 1327 bales. Messrs. Balme write. that the saleroom was well attended, but competition was lacking in animation, prices for all grades showing a decline, due in a great, measure to the heavy depreciation which has recently taken place in the value of roan*. The fall amounts to 5 per cent, on merino and fine crossbred full-woolled skins, 74 per cent, on long-stapled coarse crossbreds, as well a* balf-woolled merinos, and 12$ per cent. on pelts. As compared with the prices current at tie sales held on September 26 Messrs. Balme quote : Merino, full and threequarter-woolled, id per lb lower; merino, half-woolled, id per lb lower; merino, short and shorn, Jd per lb lower. Crossbred, fine, full and threequarter-woolled, Jd per lb lower; crossbred, coarse, full and three-quarter-woolled, Jd per lb lower; crossbred, halfwoolled, id per lb lower; crossbred, short and shorn, Id per lb lower; lambs", id per lb lower. The final sale of the current year will take place on December 19. Tho following dates have been fixed for the skin sales at the Wool Exchange during 1908:— January 16, March 12, May 7, June 25, July 30, September 10, October 22, December 17. WOOL. Messrs. Charles Balm© and Co. say that although the condition* of consumption have in no way varied during tho .past fortnight the wool market has recently assumed a somewhat unsettled aspect, due in a great measure to telegraphic advices of uome decline in values at the colonial sales, as well as to apprehensions caused by the stringency of the money markets. This weakness has so far not had any very appreciable effect on prices for merino tops available for immediate use, stocks of which are within a small compass, but is more noticeable in the rates quoted for future delivery, which have receded to a slight extent. ' Fine crossbreds aro also the turn easier in the manufacturing districts, while values of 40's tops have fallen from 15id per lb, as against 164 d, the quota-' tion current at the close of the September-Oc-tober auctions. In the latter case the decline is no doubt to a certain extent due to a desire on the part of consumers on this side to influence the course of prices at the opening of the New Zealand sales next week. The arrivals to date for the auctions to open in London on the 26th Inst, are 64,042 bales (including only 9289 bales from New Zealand, 500 of which have gone direct to the Continent, Yorkshire, etc.). ... DAIRY PRODUCE. The demand . for Australian and' New Zealand butter continues firm owing. to the supplies being so very small, an well'as prices being abnormally high. Messrs. Weddcl write that it ib the latter fact that has brought a check, and prices are easier to the extent of about 2s on the week. It is impossible, according to all past experience, for Australian and New Zealand butter to remain only a very short time at over 120s per cwt, so it need occasion no surprise to find butter declining in value. Of the 56,000cwt of butter imported from all sources last week, fully 50,000cwt must have retailed at ,14d and upward to have brought' a' fair profit to the seller, and as such a retail price cuts oft the masses and sends the bulk of them on to margarine lower prices are inevitable. The market for Canadian cheese is quiet, and; the tendency of prices is in buyers' favour. '.'■..< NEW ZEALAND MEAT. The Colonial Consignment and Distributing Company mention that the reduction in London's stock of New Zealand mutton continues. There is no fresh arrival to report this week. The market does not seem to have , realised the exceedingly light shipments made in October, and there is the possibility of difficulty in satisfying inquiries before the end of the year. Canterbury mutton is unchanged in value- at 3Jd to 4 a d per lb. North Island sheep have established an advance of fully id per lb, the best light sheep readily making 3Jd per lb, and the heaviest carcases cannot be bought under 3Jd per lb. Southland sheep are quoted up to 3jd, but inferior carcases are selling down to ,'o|d per lb. The only addition to stocks of lamb has been 3616 carcases from Australia. New Zealand lambs are being rapidly, exhausted. Values have been well maintained on the whole, but are now weakening and the demand is falling away. Values range from 5d to sj}d per lb, according to weight and quality. There is still a good demand for forequarters of beef and values have improved to 2gd per lb for New Zealand' description. Hindquarters are leas wanted and prices nave a downward tendency, New SJeaJajui Kinds' bejsg quoted it 314 tQij^Jtfz.ttf " "■

WELLINGTON STOCK EXCHANGE. [BY/ TELEGRAPH.—OWS CORRESPONDENT.] Wellington, Wednesday. On the Stock Exchange, to-day Talisman shares sold at £2 13s (cum div.), Waihi Extendcds at 5s 3d, Ngatiawas at Is 9£d, and Karangahakes at Is 6d.' Waihi shares were offered at £8 8s and Donaghy's Rope Company shares were, inquired for at £5 19s.

ADDINGTON STOCK MARKET. [BY TELEGRAPH PRESS ASSOCIATION.] ChrisTCHTJRch, Wednesday. At the Addiugton live stock market to-day owing to the Christmas holidays next week there was a double market and the entries in all departments were fairly large, the attendance being good. Trices for all descriptions of stock were inclined to be easier, the demand for beef being affected by the hot weather. Lambs were in over-supply, the export buyers not operating to any extent, and store sheep were dull of sale on account, of the want of rain for pastures. The entry of store cheep was the largest for some time past, but there were few buyers, and a number of lines failed. to change hands. Prices were decidedly lower than they were a few weeks ago. The yarding of fat lambs was a largo one and numbered between 2000 and 3000. The competition was confined chiefly to the) butchers, who were buying their Christmas supplies, but the size of the entry and the fact that the export ; buyers purchased only a few pens caused a further drop in prices. Tegs sold at 16s to 17s 6d (extra to 18s); ordinary freezing weights, 13s to 16s; and light and unfinished lambs, 10s to 12s 6d. There was a large entry of fat sheep, including a fair proportion of really prime wethers and ewes. There were 398 head of fat cattle penned, the quality being mixed and cows forming a considerable part of the entry. Owing to the hot weather the demand for Christmas purposes was not exceptional and values showed a. decline of fully Is per 1001b. Steers brought £7 to £13; heifers, £5 5s to £8 7s 6d; and cows, £4 10s to £10 10s (equal to 23s to 25s for prime and 19a to 22s 6d for medium per 1001b). There was a medium entry of pigs and a rather better demand. Choppers made 50s to 70s and baconers 48s to 60s (equal to sd' to 5Jd per lb); porkers, '36s to 46s (equal to 5Jd per lb) ; large stores, 26s to 32s ; weaners, 13a to 17s; and suckers, 12s 6d to 16s. -——_—_____—__ f AUSTRALIAN PRODUCE MARKETS. By Telegraph. Association.—Copyright. Sydney, December 18. Wheat: Chick, 4s 3d ; milling, 4s 3d to 4s 4d. Flour, £11. Oats: Algerian, 3s Id to 3s 4d. Maize, 4s lOd to 4s -lid. Bran and pollafrd, Is 3d. Potatoes: Tasmanian, prime, £4; 'local, to £2 6s Bd. Onions: Globes, £6. Butter, 96a to 98s. Cheese, 6id-lo 7Jd. Bacon, 9d. Melbourne, December 18. Wheat, 4s Id. Flour, £10. Oats: Algerian, 2s lOd to 3s. Harley: Good English malting, 5s 3d; Cape, 4s. Maize, 4s 4d. Bran and pollard, Is to Is Oid. Potatoes, £4 to £4 10s. Onions, £5. Adelaide, December 18. Wheat, 3« lOd. Flour, £10 10s. Oats: Algerian, 3b to 3s 2d. Bran, lid. Pollard, Is. LONDON. By Telegraph.— Association.— Copyright. London, December 17. METALS. Copper: On spot, £58; at three months, £59 ss. Tin : On spot, £118 15s ; at three months, £120. The decline in tin is due to the breakdown of Chinese speculation, forcing large quantities upon the market. Lead, £13 2« 6d. Silver, 2s OJd per ounce. WHEAT AND FLOUR. The , wheat and flour afloat for the United Kingdom is stated at 2,100,000 quarters; for the Continent, 1,050,000 quarters; Atlantic shipments, 386,000 quarters; Pacific shipments, 141,000 quarters. A sale of 12,000 quarters New South Wales January and February shipments is reported at 33s 9d. i SHARES. Bank of Australasia, £99; Bank of New South Wales, £39 10s; Union Bank, £57; Bank of New Zealand, £9 5s to £9 15s. Four per cent, guaranteed stock, £100 10s. Other shares ore unchanged.

. MINING NEWS. |' ♦ ■ v W.AIHI G.M. CO. CORRECTED RETURNS. The corrected returns from the Wami mine to the period ending July 13 last are now available. These show that' the bullion won from January to the date named this year realised no less than £26,795 more than the published returns. This brings the total output to date to £6,207,842, and that for 1907 to £796,214, or £41,713 less than for the whole of 1906. As the returns for six more months have yet to be corrected on the actual realisation of the bullion won since July 13, and as one more return has still to come in, there is not the slightest doubt but that the gross yield for the current year will largely exceed that of last year (£837,927). According to the corrected figures now dealt with the record return this year to July 13 was that for the period ended April 20, when- the bullion won sold for £69,906. Following are the actual figures,, the returns, as published previously being given in parentheses: —Period ended '. January 26, £55,389 (£53,038); -February 23, £66,680 (£63,235) ; March, £67,599 (£63,090); April 20, £69,906 (£64,010); May 18, £67,527 (£64,196); June 15, £66,710 (£63,450); July 13, £68,323 (£64,320). WAITANGI. Following are results of some assays of ore taken from the hangingwall of the main reef in the Waitangi mine at the low level: No. 1, general ore from section 2ft 6in wide, 135 ft to 140 ft east of main crosscut, lis 5d per ton; No. 2, picked sample, containing fine galena, from 140 ft east of main crosscut, £17 0s 3d. The manager states that in breaking out the reef on December 17 some fair dabs of gold were seen. KARANGAHAKE. Tho manager of the Karangahake mine telegraphed yestenday stating that 101b of picked stone had been selected from the new reef, and that gold was still showing in the lode. MOUNT ZEEHAN. Following is a report on the Mount Zeehan mine furnished to the directors by Mr. T. J. Mountain, surveyor:—l have made a survey of the extension of your No. 5 level, also the low level crosscut. The low level is. in a total of 102 ft. About 30ft from the end a hard bar was met with, which has evidently turned the course of the reef from a southerly to a westerly direction. At a distance of Bft from the mouth of the level a formation . (composed of stringers and country rock) was met with. This .is identical with No! 1 reef, having the same dip and strike, and it occurs just about where the said reef should be, allowing for difference in level. Your mine manager (Mr. Cartwright) is now opening out on this • formation, which should junction with No. 2 reef somewhere in the vicinity of the south-west boundary line.

The mine manager reports:— is no change in the low level. The country is hard, compact andesite of an unfavourable nature. We are now in 106 ft, 15ft having been driven this week. The drive is now 12ft past where we ought to have cut the reef, providing it kept its course. It is my opinion that' have passed through the reef, and it is my intention to open out about 50ft in from the mouth of the tunnel, where there is a quartz formation and the country is of the best description, pending a further survey being made. The drive on No. 5 reef- is still penetrating a-splendid class of country, and the reef continues to look well, carrying two good walls.. • There is about a foot of solid stone on each wall, with sandstone interlaced with ; quartz veins, making the whole reef between the walls about 4ft wide. -.

TALISMAN COMPANY AND PROTECTION. [BY TELEGRAPH.OWN correspondent.] Pabroa, Wednesday. At the sitting of the Warden's Court today, before Mr. R. S. Bush, Warden, the Talisman Consolidated Company," Limited, applied for protection for 12 months for the Imperial special claim and the Adeline Reefs speciaL claim at Karangahake. The applications were objected to by the Thames Miners' Industrial Union of Workers. In support of the application, Mr. Moresby read a declaration by Mr. ,&taasfiei& general wajOftgeJi status tfcfe.

the present company had expended £409,791 on their claims, and although they were only compelled by law to employ 84 men, yet they employed 305. The company desired to work these properties by means of a low-level tunnel, which* was "being driven from the otfier portions of the company's ground, and which would take about two years ,to . reach the Imperial; ground. .. - ': '' Mr. Porritt, who appeared for the objectors, submitted that as this area was in ex-. cess of the area of 400 acres allowed by the Act, it must be manned on its own account. He submitted that the ground could be advantageously worked from the surface. The Warden granted six months' protection on the condition that the ground was open for tribute, and said that at the end of that time the company would be required to show that the driving of the tunnel towards the Imperial ground was being proceeded with expeditiously.

PAEROA WARDEN'S COURT. [BY TELEGRAPH.— correspondent.] Paeroa, Wednesday. At tho Warden's Court at Paeroa to-day," before Mr. R. S3. Bush, Warden, applications were granted as follows:W. E. Cayley Alexander, Advance special quartz claim of 40 acres, at Marototo; J. F. Jackson, Croesus special quartz claim of 100 acres, at Golden Cross; J. Anderson, Portsea special quartz claim of 30 acres, at Waitekauri; J. Newdick, protection for six months for Sir Coliu Campbell special claim; New Marototo Gold Mining Company, Limited, protection for six months for Marototo Consolidated special quartz claim, with two men for six months; Maoriland Gold Mining Company, Limited, protection for six: months ■ for Maoriland special quartz claim; Robert Stackpole, protection for six months for Talisman South special quartz claim. MINE MANAGERS' REPORTS. South Kapanga: The rise is now up 37ft. It has not connected with the winze yet, but in the course of another two or three days I expect to have the connection complete. Stoping and driving it No. 2 level will then be commenced, where good prospect* of gold have been obtained and about five tons of ge*neral ore selected. Halcyon: During the past week we have extended the low level tunnel on the Halcyon reef sft; total, 138 ft. The country is still improving and when shooting out the reef a small vein on the hangjngwall made a few colours of coarse gold. The reef continues to look well. The drive on the mineral lead is now in 18ft and the country is still firm. We have also driven 6ft on the main big reef; total, 28ft. We intend to crosscut this reef during the week to ascertain the nature of the country on the hangingwall.

Waitangi: The drive on the hangingwall of the main reef at the low level is now in 44ft past No. 1 crosscut. The reef has shown an improvement during the week and colours of gold were seen in the ore, which also contains fine galena—a very good indication for gold in thus locality. Stoning on No. 1 leader is in progress, with favourable results. A little picked stone has been selected from the ore coming to hand. The leader averages 3in in width and the block of ground we are now stoping extends from the rise south for 32ft, at which point an end of ground has been formed. The northern end of the rise is now close to the footwall of the main reef and will be carried up on this wall. A portion of the main reef, where the leader strikes into it, is being shot out. The quartz looks promising, but so far no gold has been seen in it.

Watchman: The drive on No. 1 reef is now in 93ft from the crosscut. The reef is still split up, but the quartz looks very kindly for gold. It is penetrating a splendid class of blocky white sandstone. A further 12ft should complete the driving, .when the rise will be started to connect with the winze from the intermediate level. In the latter the wime lias been sunk a total of 21ft. As soon as the connection is completed I will cut through to the hangingwall to ascertain its size and value. This wall carried the values in the level above, and there is no reason why it should not continue, as the quartz has a favourable appearance and the country has changed to a white blocky sandstone. ~; New Waitekauri: Baker'u pass— have squared up No. 2 stope to the end of the ground and have started No. 3 etope south. This' has been beaten along about 6ft from the end of the winze. The ore from here is of very fair grade. No. 4 stope north has been advanced 30ft from the winze. The ore is low grade and we are not saving it. We have also started stoping over Grace's level and are getting very good ore, showing gold occasionally. f l hope to bank the bullion next week. . * '■■ >• ; . • i Reliance: The south on No. 2 reef is.in 42ft from the surface. The jeef in the face is very much disordered and of low grade. The face is only some 2ft or 3ft" Iron* our late workings. We have driven 16ft on the leader on the western side of No. 2 reef. This leader -has become very small and" df low grade.' It appears to be only a surface leader, of not much value. We have commenced to drive a crosscut on the'north side of No. 1 spur to, cut the reef at, the lower level to test its value going down. I expect " to' meet the reef in 30ft or' 40ft of driving. We have sent 13 loads of quartz to. the mill for treatment. It is all through the stamper boxes. We have only got lOoz of amalgam from the plates. We have the blanket washings to treat in the berdans. Magnet: We have cleaned out and repaired the drive north on the reef for 60ft from the flat sheet, and Monday should see us up to the solid face. Wo have also repaired and cleaned out the south drive on the'reef for'4oft, and I hope to have ; it picked up to the junction of -bothreefs very shortly. It to at this junction we intend to commence '.perations by rising on same and testing the value of the reefs ■ upwards. Golden Cross: The west crosscut has been extended a further 33ft. In the north section the timbering up at the connection with the'main level is almost completed. The water in No. . 1 shaft has sunk sft.

Tairua Triumph: The footwall portion of No. 2 lode has been intersected. It is 7fb wide, composed of hard solid: quartz, and shows nice colours of gold. The width of this lode from wall to wall in 45ft. Men have been engaged cutting out a chamber for a winze, which is to be sunk on No. 2 lode to connect with the low level, which is now in progress. The winze bos been sunk sft. When breaking out the ore strong dabs and colours of gold were freely seen, and the rubble showed a good prospect when washed off in the dish. The contractors are making good progress with the low level which boa recently been started. Temple Bar: The drive on the Teef has been extended 9ft,for the week,, making a total of 123 ft. The country, which is a good description for gold, is much, firmer and ia interlaced with, quartz stringers,; consequently progress is slow. The reef is about the same as last reported. Scandinavian :■ The drive on Lowrie's reef has been extended ,sft for the week. The reef, is 4ft 6in wide in, the face and carries plenty; of good mineral. '.' " ' May Queen Extended: Hansen's _winae—Three feet additional have.been sunk. The reef in 'the bottom continues strong and exceedingly heavy in mineral, in which gold) is visible, and the whole is being saved for crushing. About seven loads are now in the hopper. The total depth of the winze is 49ft. At 50ft I intend to open out east, and west, when we shall accumulate ■ ore more rapidly. So far water is not troubling us. New intermediate level— drive has been advanced 18ft for the week, making a total length of 232 ft, with the face penetrating good country. It is being pushed ahead as rapidly as possible •towards the Adelaide reef. New Una: Fair, prospects are being met with in the Duke reef going -east from the main crosscut. A strong rib of quart*; 18in wide is forming on the hangingwall ' of the main reef. This is highly mineralised and shows colours of gold. It should junction with the main reef a few feet further ahead. Tn the west end splendid country encases the reef. That in the footwall is a network of mineral veins. The reef maintains its usual size, and where the mineral veins showing in the footwall join the reef it makes bunches of bright lively minerals in the. quartz, in which colours and dabs of gold are' continuously seen. ■ The ore is evidently improving in value ■■ at each breaking as the drive advances. A fair tonnage of quartz is accumulating in the paddock, and crushing will be commenced as soon as the road is put in order after the holidays. --. Champion: The new low level (battery level) is in 50ft. The country is firm, but favourable for progress. Champion main lode— E. F. Adonis has made a thorough survey of all the mine workings, and has now completed his plan of the same. Since seeing the workings the manager feels satisfied that sufficient croescutting ) has been done in' the low level to pick up the extension of the lode. He has put on two men to crosscut in a southerly direction from the present west crosscut to connect it with the low level. A few small quartz seams are showing in the face. The specifications, with diagrams for the erection of the battery, are completed. The County Council > have still six men at work repairing the lower road to the mine. Arrangement have been -made for hands to start immediately clearing the battery site and excavation for foundations. '>, ■;. !..-':. V^ J

Mr. Crosby Smith has shown the Southland Times a' growing; specimen of the plant Stillbocarpa polaris, which the Dundonald castaways •used as a vegetable during their sojourn on Disappointment Island. The leaves of the plant are large, smooth, and pale green in colour, but not in any way remarkable. What is remarkable about the plant is the long stalk or root on which the leaves grow. The specimen which Mr. Smith has in his possession has a stem nearly 2ft long, and about l£in in diameter. This Mr. Smith describes as- a small plant ; and ho assures us that ■the stem is not infrequently as thick as a man's arm. It is this 'long stalk which the - unfortunate sailors turned to account as a vegetable, cooking it in the only way possible under the circumstances roasting it on an open fire. In appearance and texture the "vegetable" is something between a cabbage stalk and a parsnip. It is said to be very nutritious, and an excellent preventive of such skin diseases as men living almost entirely on flesh might be expected to suffer from. It is probable that the men owe their practical immunity from any such disease during the seven months which they spent on thift island,- to their upa-pf thjajjlattt for foojd/^

Seller*. Buyer*. £ b. U. £ a. d. BANKS— New Zealand 9 16 0 — National 5 9 0 — INSURANCE— New Zealand 4 19 4 10 South Britiih 5 12 0 5 10 0 Standard ... ... ... — lob FINANCIAL— N.Z. and River Plate ... 1 10 6 1 10 0 COAL— Hikurangi ... 0 18 0 0 17 0 . Nort. Coal, 10s paid ... — 0 15 4 Taupiri Mines, Ltd. ... 1 0 6 10 0 Wcetporfc 7 19 0 7 16 0 Drury — 0 4 6 GAS— Guborno ... ... ... — 2 12 0 SHIPPING— Northern, paid up 0 17 6 0 16 9 Northern, con 0 8 2 — Dovonport Steam Ferry ... 1 14 6 1 13 0 TIMBER— Kauri, con. ... ... 0 9 3 0 9 0 Parker-Lamb, Ltd. ... — 15 0 WOOLLEN— Mosgiel ... „, _~ — 3 0 0 MISCELLANEOUS— Auckland Tramway*, pref. — 14 0 Auckland Tramw«v«. ord. 15 0 14 8 D.S.C., Limited 0 5 4 0 4 10 Grey and Menzies, Ltd., ptef 0 12 5 0 11 6 Grey and Menzien, Ltd., ord. — 0 9 0 H.M. Arcade Theatre Co., pre! 116 10 0 U.K. Arcade Theatre Co., ord. 10 0 0 IS 3 Milne and Choycc, pref. — 13 6" Milne and Cboyce, ord. 13 0- —. ' N.Z. Portland Cement Go. 1 10 0 1 9 '0 „• New Zealand Paper Mill* 14 0 13 3' Tonson Garlick Co., Lt4. 10 0 — J Wiseman and Son*, pref. 0 13 0 0 17 0: Wiseman and Son*, ord. 0 14 0 0 12 0 ' Wilson's Portland Cement Co., pref. — 2 16 Wilson'* Portland Cement Co., ord. 2 3 0 2 16 MINING— Bonanza, paid 0 0 7 — Bonanza, con. 0 0 4 0 0 2 Halcyon 0 0 4i I) 0 3J Kuranui — 0 0 7 Kuranui-Caledonian ... 0 0 11 0 0 10 Magnet, con. 0 0 3 — May Queen ... .... 0 15 014 May Queen Extended ... 0 0 4J 0 0 3 New Moanataiari 0 0 10 — New Moitowai 0 0 6 0 0 3 New Occidental 0 0 2 — New Una 0 0 6 — New Saxon ... ... ... 0 0 11 0 0 10 New Sylvia ... 0 12 0 11 Old- Alburnia 0 15 0 13 Scandinavian 0 0 4i ' 0 0 3 Southern Queen 0 0 3 — Thames - ... - ... ... 0 14 0 12 Victoria 0 17 0 15 Waiotahi ... » 0 3 2 0 3 0 Waitangi 0 3 3 0 3 0 Watchman 0 0 SJ 0 0 8 Mount Zeehan. con. ... 0 0 7 — Consolidated Goldflelds ... 1 3 6 — Hauraki Freehold ... 0 0 6 0 0 5 Kapowai, con 0 0 9 0 0 6 Old Hauraki Gold Mines 0 2 0 0 1 11 Old Kapanga 0 0 2 — South Kapanga ... ...0 0 3 0 0 21 Tangiau 0 0 7i 0 05 Comstock, paid 0 1 10 — Coinstock, con ... ... 0 0 10i 0 0 9 Champion, paid up ... 0 5 2 — Champion, con 0 4 8 0 4 6 Crown ... 0 7 10 0 7 9 Bnirbar 0 0 5 — Golden Belt ... ... 0 2 11 0 2 10 Golden Cross ... ... 0 0 5 0 0 3 Kirikiri, con 0 0 6- 004 Karanjfahake 0 19 0 . 13 Komata Reef* 0 18 '0 1 6' Maoriland, paid ...... 0 0 4 — New Wuito.kauri 0 0 8 0 0 61 Pride of Waihi 0 0 6 — Rising Sun — 0 0 8 Taihoa 4. 0 0 7 0 0 54 Tairim Broken Hills ... 0 4 10 0 4 8 Tairua Extended 0 0 4 0 0 3£ Tairua Triumph, con. ... 0 2 4 0 2 2 Talisman Consolidated ... 2 13 6 2 12 6 Waihi 8 9 0 8 7 6 Waihi Beach ... ..004 003 Waihi Consolidated ..019 — Waibi Extended .... 0 5 7 0 5 3 Waihi Grand Junction ... 1 11 0 18 0 Ngatiawa 0 1 11 0 19 Aupouri 0 0 5 0 0 4