COMMERCIAL.

New Zealand Herald, Volume XLV, Issue 13780, 19 June 1908, Page 3

COMMERCIAL.

BcaiSESs on the Stock Exchange during the past week has been very brisk, mining stocks receiving most of the attention. In banks Ne-v Zeaknds sold at £9 Is, £9 Is M, £9, and £9 6s, closing with buyers.at. £9 7s and sellers £9 Bs. Nationals are obtainable at £5,65, there being no buyers' quotation. In insurance lines New Zealauds sold at 75s "d, 765, and-75s.6d,"and more-are wanted at 75s 6d, sellers" asking 765. Nationals are wanted at 265" 6d, and there are sellers of Standards at 22s ' 6d. Little business has been done in coal stocks. Northerns (10s paid) sold at 16s, 15s 9d, and rnoro arc obtainable at 15s 9d, there being no buyers' quotations. Taupiris were done at 19s bd, and more are available at that price, buyers offering 19s. There are buyers of Hikurangis at 9s, and of- Westports at £6 15s, there being no declared sellers in either case. A sale, in Auckland Gas took place at £15 10s, and more are available at that figure, buyers offering £15 83 6d. There are buyers of Union Steam Ships at 35j, and Northerns (con.) are wanted at Bs, sellers holding out for 83 3d. In other stocks NewZealand Portland Cements have sold freely from 24s to 24s 9d to 243 6d, closing with buyers at 24s 3d and sellers at 24s 9d. Wilson's Portland Cements were done at 425, and closed with sellers at 42.? and buyers at 4Qs. River Plates were done at 325, and more were sought after at that price, sellers holding out for 32s 6d. H.M. Arcades sold at 203, D.S.C.'s at 5s Id, and Hill and Plummers at 21s. In timbers Kauris (contributing) sold from 12s to lis lid to 12s to lis lOd, closing with buyers at lis 3d and sellers at lis 9d. In mining lines sales in Waihis took nlace at £9 5s 6d, £9 5s 3d, £9 4s 9d, £9 ss, £9 4s 3d, £9 3s 6d, £9 3s, £9 3s 6d, £9 3s, £9 3s 3d, and £9 3s, closing with sellers at £9 3s 3d and buyers at £9 2s. There has been less inquiry than usual for Talismans, and sales took place from 48s to 47s to 47s 6d to 47s to 46s 9d to 47s to 46s 6d to 46s 3d to 463 to 45s 9d to 46s 3d to 465, closing with buyers at 46s and sellers at 463 3d. Waihi Grand Junctions sold from 36s 6d to 34s 6d to 34s 9d to 34s to 33s to 32s 9d, to 32s 6d to 32s 9d to 33s to 345, closing with buyers at 33s 9d and sellers at 34s 6d. Crowns have sold freely from 5s 9d to 7b 6d to 6s 2d to 6s 7d to 63 5d to 6s lid to 63 8d to 7s 5d to 7s 2d to 6s 8d to 6s 9d to 6s Bd, and closed with buyers at 6s 8d and sellers at 6s-. 9d. Waitangis have also sold freely, and sales took place from 4s 4cl to 4s Id to 3s 7d to 4s 6d to 4s 3d to 4s 6d to 4s 4d, a«d closed with buyers at 4s 3d and sellers at 4s 4d. Old Alburnias sold from Is Id to Is 9d to Is Bd, and closed with sellers at Is 5d and buyers at Is 2d. Tangiaros (6d paid) sold freely from Is 7d to Is lOd to la 5d to Is 6d, and more are wanted at the latter figure, sellers holding out for Is Bd. Tangiaros (Is paid) sold freely from Is lid to Is lOd to Is lid to Is lOd to Is Bd, and more are wanted at the latter figure, sellers asking Is lid. There were numerous sales in other small-priced stocks. .Business with the wholesale merchants during the past few days has not been characterised bv any special activity; end of current month is the usual time for some stores to take stock, so that orders placed in the meantime are comparatively small For various obvious reasons, tho demand from country districts cannot be expected to be of large volume during the next month or two, but oil the other hand we see no justification for the feeling which is prevalent in some quarters that tho winter trade will be slack. Preparations are now being made for the winter sales in the retail establishments; building operations arc fairly brisk, with a good-demand for all timber. The hardware and soft goods houses are doing good business, which looks like being sustained. Currants: Figures for the new crop are now quoted on a slightly easier basis, and operations havo been confined to limited proportions. Seeded Raisins Local holdings arc ample for present requirements, but we look tor heavy :inroad to bo made into stocks during the next two months, thus leaving the market! iii a good position to receive tho shipments*'of new fruit. ■Evaporated Fruits: The American market remains enigmatical; present quotations would seem to point to the various lines being-sold below their actual commercial value, and it is very difficult to know when tho market has touched bottom; meantime operators are going in cautiously, and seem to bo following the example set by a number of largo operators in the States in shorting the market. Figs: Some good business has been done on opening figures, and orders placed will eventually exceed previous season's demand. Bluostone: Somewhat easier for prompt shipment: spot holdings are not heavy. Tinplates: Firmer tone is prevalent in the market, and future course will probably be upward. Linseed Oil: As anticipated, the market remains firm,- with a fair volume of business being done in futures. Canned Fruits: Australian varieties aro giving every satisfaction, and good demand is looked for during tho next month or two. Salmon: Spot parcels should command higher.prices in view of the very firm figures expected to rule for the next pack. Pimento: Demand is normal, with price for prompt shipment on safe level. Camphor: A _ substantial drop in pried has been conducive of business. Castor Oil: Steady at last quotation, and we look for further advance before the next steamer leaves Calcutta. Mattress Fibre: Firm, with upward tendency.. Cocoabeans: Both Ceylons and West Indians are quoted on lower basis, on which business has been-done. Potatoes: The market is getting very bare, and late small arrivals have been insufficient to cope with the demand. The Tarawera has a small shipment, and the Waiiaka is duo next weok, but, as most of her potatoes have, been sold to arrive, wo do not expect the market to be over-sup-plied, for some time at least. There is very little; change ,in the position in the South, with the exception of Dunedin, from which place low quotations are coming, but from inquiries made the quality cannot be guaranteed. Local price is £5 15s. Onions: Slocks are light, and ex store lots have to be gone over carefully, as a great many of them are getting on the soft side now. There is no change in the price, which remains at 9s, ex store. Arrivals from the South are small, and these aro not coming forward in a prime condition. Oats: Stocks have run down very low, but the Wanaka on arrival will replenish them. The Southern market is inclined to be easier, on account of some speculators being anxious to realise. Tho local price remains at 2s lid ex ship, and 3s ex store. Fowl Wheat: Although stocks here are anything but heavy, the market has an easier tendency, but so far there has been no alteration in price, which remains at 5s 3d*: : Maize: Tho only arrivals from the Coast consist of 42 sacks by the Aupouri. The Atua brought a small shipment from the Islands of 130 sacks, but. as all Island maize is invariably weevily, distributors are not inclined to operate on it. The Coastal maize is rather new, consequently sales are only ,of a hand to mouth character. The Brice ex store for new is 4s 9d. but any lots of old season's aro worth more. Bran: The price remains at £6 2s 6d, with a good demand. Stocks are only fair. Pollard: There has been a drop of 5s per ton on this, which brings the price to £7 15s, It is difficult to understand why the fall has taken place, as the demand keeps ahead of the supply. Fungus: There is very little coming forward; so far there has been no change in price, which remains at sgd. This is likely to continue till the end of the month, but the latest reports from China are to the effect that, although there 13 no change in the market price, there has been a change in the rates of exchange, and this will, no doubt, tend to bring the price down, so that we look for a lower value for July shipments. Flax: Deliveries _ still continue small. Business generally is of a very nominal character. London advises no change in the market. There has been no alteration in the quotations, which remain at £22 for good fair, £20 10s to £21 for f.a-q., and £18 to £19 for common. Tow: Very little arriving. This is worth from £4 to £5 a ton. Indian Tea: Weather reports from the tea districts are more favourable. Fair rain has fallen, but more is wanted, especially in Cachar, the Dooars, and the Torai. The quality of the first flush teas seems to be rather above the average from. Darjeeling, whilst from other districts the quality appears to be about average. The first sale of the season was held in Calcutta on the sth inst..

\ KATTRI GUM. The arrivals for 18 days of June consist of 515 tons. This is a falling off of 79 torn in comparison with the same time of June last year. The arrivals for 190? up to date were 3597, and those of 1908 for the same time 2785. This bring 3 the shortage tip to 1112 tons. The market remains practically about the same, although some of the exporters have been operating in small lines, principally of rescraped, No. 1 and No. 2 ordinary: but the difficulty the shippers are experiencing is that they cannot buy lines at a price that will sort out at their limits, and the London market at present does not show any signs of improvement. ■ Unless the Americans come in very shortly, it looks as if stocks here will accumulate, notwithstanding the great falling off in the supplies this year. Pale select con be sold if a fair reduction is made, but the quantity on offer is only limited. Ordinary: The demand for well got up lines continues, but buyers are not inclined to increase their price. There have been a few sales of good lines of three-quarter-scraped ordinary. Although stocks of this are not excessive, there is plenty to meet all present requirements. Weakish three-quarter-scraped ordinary is in abundant supply, "and shippers are not anxious to operate, even at a very heavy reduction. Medium ordinary is selling slowly. Good hard washed nuts, if well sieved, move off on arrival There are still buyers of partly sound swamp, but there is no business doing in poorest kind of swamp. East Coast: Arrivals are very light. A few parcels are changing hands where a moderate reduction has been accepted. Black: Resoraped is still selling. The inquiry for bold lumps well-cleaned has rather slackened off. There have been more inquiries of late for good lines of three-quarter-scraped steel, but 60. far very lew sales have been effected. There are fair stocks of this particular grade here. Medium blacks are in better request, without any improvement in price. Black nuts are also being quitted at late rates. Black sugar is not easily sold. Bush: Rescraped is the only grade that is soiling. Bled bush is not being asked for at the present time.. ' Chips and Dust: Bright chips and dust are salable. There is no inquiry for good ordinary chips and dust, or for diggers' ordinary chips and dust. Black riddlings. black seeds, and coarse black dust, if in dry condition, are still salable. AUCKLAND STOCK EXCHANGE. BUSINESS DONE YESTERDAY. Previous day's closing sales. Blink of New Zealand— call, £9 6* 9 0 0 New Zealand Insurance—lst call, 75s 6d — New Zealand Portland Cement2nd call. 24s 6d, 24s 9d, 24a 6d; 3rd call. 24b 6d ... «• - May Queen—3rd call. Is 8d 0 18 Waiotahi— call, 2s lOd; 2nd call, 2s lid 0 2 11 Waitangi—3rd call,- 4d 0 4 5 Consolidated Goldfields— call, 145... — Tangiaro (Is paid)—2nd call, Is 8d ... 0 1 9 Tangiaro (6ci paid}— call, Is 6d, Is 6d; 3rd call, Is 6d ... 0 18 Crown—2nd ' call, 6s Bd| 6s 9d ; 3rd call, 6s 8d 0 6 8 Golden Bjf.lt (paid up)— call, 2s Id ; 3rd call, 2s Id ... 0 2 0 Golden Cross—2nd call, od 0 0 6J Maoriland (paid)— call, 6d 0 0 6i Maoriland (con.)—3rd call, sd, 4£d ... — Phoenix (6d paid)—lst call, lOd; 2nd call, lOd, lid. lljd, lid, IOJd 0 0 10 Tairua Broken Hills—lst call, 2s lid; 3rd call, 3s ... ... .-.. ... — Talisman—2nd call, 45s 9d; 3rd call, <J6s 3d, 46s ... 2 6 0 Waihi—lst call, £9 3s 9 3 3 Wailii Grand Junction call, 33s 6d, 33s 9d; 2nd call, 33s 9d, 34s;'3rd call, 34s 1 13 0 CLOSING QUOTATIONS. Seller*. Buyer* £ a. d. £ ». dBANKS— New Zealand 9 8 0 9 7 0 INSURANCENew Zealand ... \ ... 316 0 . 315 6 National ~ — 16 6 Standard ... 12 6 — FINANCIAL— N.Z. arid River Plato ... 1 13 6 . 112 0 COAL— Hikurangi — 0 9 0 Nort, Coal, 10s paid ... 015 9 — Taupiri Mines, Ltd. ... 019 6 — Westport ... ... ..." — 615 0 Westport Stockton ... 0 9 9 0 8 6 Drury — 0 3 6 GAS— - Auckland ... 15 10 0 15 8 6 Thames 1 18 0 — Gisborno ... ...... — 2 14 0 SHIPPING— Union S.S. 1 15 0 1 15 0 Northern, con 0 8 3 0 8 0 TIMBER— Kauri, con , ... 011 9 011 3 Parker-Lamb, Ltd. ... 1 6 0 15 3 MISCELLANEOUS— Auckland Tramway*, pref. 13 6 116 Auckland Tramways, ord 13 0 116 D.S.C., Limited 0 5 3 0 4 9 Grcv and Meneies, ord. 0 9 0 . — Hill and Plummer, Ltd. 12 0 10 0 H.M Arcade Theatre Co.pref ... 10 6 0 19 6 H.M. Arcade Theatre. Co., ord. 0 18 6 _ ■ Milne and Oho.vce, pref. 13 6 — N.Z. Portland Cement Co. 1 4 9 14 3 Wilson'* Portland Cement, Co., prof. 22 0 2 0 0 MINING— Bonanza, paid ... ..009 — Bonanza, con 0 0 3; 0 0 2i Halcyon 0 0 5 — Kuraimi 0 0 H 0 0 5 Kuranui-Caledonian ... 0 0 9{ 0 0 8 Mav Queen 0 19 0 17 May Queen Extended ..'. 0 0 4 0 0 1 New Moanata'iari 0 0/6 0 0 5 New Sylvia 0 16 0 14 Old Alburnia, paid .015 012 Old Alburnia. con. ... 0 0 7 — Paxon 0 0 7 0 0 5J (Scandinavian 0 0 5 00 44 Southern Queen 0 0 5 0 0 4', Thames 0 0 8 0 0 6" Victoria 0 10 0 0 3 Waiotalii .0 2 11 . 0 2 10 Waitangi 0 4 4 0 4 3 Watchman ... 0 0 3,j. 0 0 3 Blackwater 116 0 19 6 ' Consolidated Goldflelds ... 0 14 3 0 14 0 Golden Pah 0 0 5 004 Haiirakl Freehold ... 0 0 5 0 0 3 Kapowai, con. - 0 0 6 _ Old Hauraki Gold Mine* 0 3 4 0 22 Old Kopanga ... ... 0 0 2 0 0 1 Tangiaro, Is paid ... 0 1 11 0 18 Tangiaro, 6d paid ... 0 1 8 0 16 Tokinca 0 0 4 — Ngnriiawtt 0 15 0 10 ..'. Sunbeam Gold a.ml Silver, Is 6d paid 0 0". 0 0 2 Brilliant Block, 3d ptrid 0 0 4 0 0 3 Comstock, con. ... ... 0 06 004 Champion, paid nj> ... 0 4 3 0 4 1 Champion, con 0 3 6 0 3 3 Crown ... 0 6 9 0 6 H .Dominion, 4d paid ... 0 0 Si 0 0 « Golden Belt, paid up ... 0 22 0 2 f Golden Belt, con 0 0 9 0 0 8-', Golden Cross 0 0 7 0 0 6 Klrikiri, paid up ... 0 011 — Kirikiri, eon. 0.0 9 Karangahake 0 0 7: 0 0 6 Koniata Reels 0 14" 0 12 Maoriland, paid 0 0 6 0 0 o', Maoriland, con 0 0 4; 0 0 4* Now W'altekaiiri 0 0 7* 0 0 5 Phoenix, 6d paid ... ... C 011 0 0 104 Ready Bullion, con. ..: 003.;. 002 Rising Sun (1 0 "i 0 0 6 Silver Hill ... 0 ft 5] 0 0 4 Taihoa ... 0 0 2 — Tail Broken Hills ... 0 3 0 0 211 Tairua Consols 0 0 3 _ Tairua Golden Hills, 9d paid 0 3 2 — Tairua Golden Hills, 6d paid 0 2 11 0 2 6 Tairua Extended ... 0 0 6$ 0 0 4 Tairua Triumph 0 16 0 14 Talisman Consolidated ... 2 6 3 2 6 0 Waihi 9 3 3,920 Wiihi Beach ...... 0 0 7 ' 0 0 * Wit'hi Consolidated ... 0 2 3 0 1 10 Waihi Extended 0 3 9 0 3 6 Waihi Grand Junction ... 114 6 • 113 9 Mountain King, con. ... 0 0 6 0 0 3 CALL AND DIVIDEND LIST. Dividend*. £ i. d. Mount Lvel! Mining and Railway Company 0 19 Now Talisman , 0 13 June 25 Komata- Reefs ... 0 0 2 July 10 Calls. New Svlvia. June •'■ ... 0 0 1 June 22 Waihi Beach. June 11 0 0 1 June 25 Golden Croas, June - 0 0 1 June 23 Old Kapangs., June 10 0 0 1 June 19

CLEVEDON STEAM NAVIGATION COMPANY.

The directors of the Clevedon Steam Navigation Comoany, Limited, in their 12th annual report and balance-sheet, congratulate shareholders upon the continued success of the company. The profit and loss account shows receipts for the year to have been £1991 Is 3d, and the expenditure £1510 17s 4d, leaving a surplus of £480 3s lid. An amount of £150 has been written off for depreciation on the steamer, and £150 added to the reserve fund, leaving a balance, cf £180 3s lid, which, added to the amount brought forward from last year of £91 9s Id, leaves a balance of £277 13s. This amount the directors recommend should be disposed of by payment of a dividend at the rate of 7g ncr cent., absorbing £187 10s, the balance, £90 3s, to be carried forward to next year's accounts. Recently the directors acquired from Mr. Hyde the lease with option of purchase of a piece of land at Clevedon on the river bank, contiguous to the landing, and a portion of this land has since been leased to the New Zealand Loan and Mercantile Agency Company.

NEW : : ZEALAND: PORTLAND'. CEMENT, ■ '.'-The' secretary of the Auckland Steele'Ex-.. change yesterday ■ received thn ■ fo'fewiitgtelegram from Donedin: —"Register of NewZealand Portland Cement Company closed 12th inst.; new issue allotted July 8. Bayers must arrange for protection of rights ac- \ cordingly." - DANGER OF OVER-INSURANCE. The attention of the Fire Insurant'©; Tariff Association of the U.S.A. has been \ directed by one of the Stat© Insurance Commissioners to the question of over-insurance,' which is doubtless-not without local application. He says;—l have been very much . worried in regard to the writing of over*' insurance by agents on risks in this State I know how hard a proposition it is for the companies to handle. Over three-fourths of the tires we have been investigating of late, where the suspicion points to '.he owner or occupants, appeared to be due largely to : over-insurance. I am inclined to think, it < will be a pood idea for ei her your associa- j tion or your companies, possibly it would be better for the companies to do it, to iwuo a circular to their agents calling attention to, sections 4755 and 4756 of our law. The first section forbids any company or agent writing insurance for more than the value or the property, and the second section requires the excess of premiums shall be returned. In Australia (says the .Sydney Morning Herald, commenting on this) there is no such law. Such a measure would indeed be difficult to enforce, for who could say who- \ ther a property were over-valued without a valuation, and were there a valuation all the arguments against "valued" policies would apply. ' MESSRS. ALFRED BUCKLAND AND SONS' REPORT. . Horses: We had a hilt yarding at the Hay* market on Friday last and a- good attendance of buyers. Heavy draughts sold at from £31 Kb to £36; active waggon and express sorts, £25 10s to £35 10a; mares and gelding* up to a ton, £14 10s to £21 ss; bakers' and butchers' cart etas, £15 15a to £20 Mb; hacks and buggy horses, £10 10s to £23; gig ponies and ordinary riding sorts, £3 15s to £8 ss; drays. £11 Sit to. £-1 10«; light trap. £8. ,r„,„i, v A fair yarding of stock at. Pokeno on Monday was disposed oi at full values. Backward cows and heifers, £2 15* to £4; small, fat young cows and heifers, £3 17s 6d to £4 lis; fresh empty cows, £2 5s to £3; 18-month steers, £2 las, mixed yearlings, £1 lis to £1 18«; ■strong calves, to £1 6s; forward three and a-half year old steers, £5 15s; ewes in lamb, 13«. . j - The Runcimon Yards were moderately »u«i with cattle on Wednesday. Dairy cows were in demand and sold at from £5 10s to £8 10s for best at their profit; springing heifers, £4 los to £6 5»; cows to calve in the spring, £3 to *."» 10s; fat cows and heifers, £4 to £5; empty cows, £2 to £3 1&; 18-month to two-year-ad steers, £2 12s to £3 5«; threft and a-half year old steers, £5 ss; choice yearling steers, ,£2 os; strong calves, 13s to £1 6s; smaller, 8s to 13s; IS-montb. heifers, £1 12s 6d to £2 2s. At Remuera on Thursday dairy cows realised from £7 7s 6d to £9 for best, others £4 to £5 10«; few stores yarded. Fat and young calves in average numbers. Heavy sold to £.i b* ; medium, 15s to £1 10s; small, 2s to 1C«; 79 sold. Three hundred and twenty-six fat cattle met with tinner competition throughout. Steer „ beef brought from £1 Is to £1 2s; cow. 18s to £1 Is. Steers ranged in price from £5 2» 6<l to £10 10s; cows, £3 10s> to £8 10s. The sheep pens were fairly well filled with mutton of, choice quality. Prices improved on late quotations. Heavy wethers, £1 Os 3d to £1 4s 6d; others, 15s 9d to 18s Bd. Extra heavy ewes, £1 3s 6d ; heavy, 17s 6d to 19s 6d; lighter, 13s 6d to 16a 3d; hoggets, lis to 14s; shorn, 10s 3d to 12s 3d. The advertised ewes in lamb sold from 10s to 14s; store. wethers, 12s 6d to 15s 6d. A fair supply of pigs sold at late high values. Baconers, £3 9* to £4 35; porkers. £1 15s to £2 6a; lighter weights, £1 8s to £1 13s: slips, 13s to IBs; small, 8s to lis; weedv, 3s 3d to ss; 85 sold. Hides, Skins. Tallow, etc. : Hides—Ox, in demand, 5d to frfd ; cow, 3id to 4d ; kip and calf, sid to 4td; horse, 5s to 7s; damaged hides, 2d to 3|d„ Horsehair, Is to Is 3d ; horns, i2s to 8s per hundred; bones. 4« 9d: tallow, 17s to 22s 6d. Butchers' salted, Is 8d to 2* 6d ; pelts and lambs', lOd to Is 6d ; damaged, Id to 7d. ■ MESSRS. G. W. BINNEY AND SONSREPORT. At. Tuesday's sale wo again submitted and cleared very large catalogues of hides, skins, tallow, etc., under good competition. Hides: Market firm- Ox, extra stout 7d to> 7-Jd. stout 6id to 62d, medium 5Jd to 6d. light 4Jd to 52d, cows, best lines 4d to 4id, good 3id to 3Jd; stags', 2d to 2Jd; kips, 2id to 3d; calffUUis, 3Jd to 4d; cut and damaged, hides, 2d to 3Jd per lb. Sheepskins: Market very firm. Pelts and lambskins, best, Is 8d to 2s; good, la 3d to Is 6d; small, 9d to Is each. Tallow: Best mixed, to 22e; good, 18s to 20s; inferior. 15s to 18s cwt. Rough fat, lid per lb. Cowtails, Is 8d per dozen. Bones, £4 15s per ton. FROZEN MEAT MARKET. . [BY TELEGRAPH.— ASSOCIATION.] NAriEn, Thursday. The Colonial Consignment and Distributing Companv's London cablegram concerning the frozen meat market states to-day's quotations arc-—Mutton: Canterbury, 4id; Napier, Wellington, and North Island, 3id. Lamb: First- quality, 5Jd; second quality, sjd. Beef: Hindquarters, 4d ; forequartcrs, 3d. LONDON. By Telegraph— Association.— Copyright. London, June 17. BANK OF NEW ZEALAND. Bank of New Zealand 4 per cent, debentures, £101 10s. METALS. ..._■'. Copper: On spot, £58; at three months, £53 10s. Tin, £129 12* 6d Lead. £12 12s 6d. ■ ' TALLOW. At the auction sales of tallow 1929 casks were offered, and 1249 sold. Fine mutton. 33;- 3d; ; medium, 29s 6d. Fine beef, 32?; medium, 20s.