COMMERCIAL.

New Zealand Herald, Volume XLV, Issue 13873, 6 October 1908, Page 3

COMMERCIAL.

Business on. the Stock Exchange yesterday was confined to mining lines, with t'no exception of - Kauri Timbers (con.), a* parcel of which was quitted at 14s. Waihis sold at £9 3s 9d and £9 3s 6d, more being available at the latter figure, buyers offering £9 3s 3d. Talismans were done at 42s 6d and 42s 9d, more being wanted at the former figure, sellers holding out for 42s 9d. Waihi Grand Junctions were firmer, and sales' took place at 34s 6d, 34s 9d,,355, 35s 3d, 35s 6d, 35s 9d, 365, 36s 3d, 6d, 36s 9d, closing with buyers at 36s 6d, and sellers at 375. May Queens were freoly inquired for at the socond and third calls, and they sold from 2s 3d to 2s lOd to 2s 7d, more being wanted at the latter figure, sellers asking 2s Bd. New Sylvias were done at 2s 7d, 2s 6d, 2s sd, 2s 6d, 2s 7d; Waiotahis at 2s 8d; Consolidated Goldfields at 16s 9d; Progress Mines at lis 9d; Champions (paid up) at 5s 4d; Champions (con.) at 4s 6d and 4ti sd; Crowns at 4s; Tairua Golden Hills at 7s 7d; Waihi Extondeds at 3s sd. AUCKLAND STOCK EXCHANGE.

TALLOW MARKET. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house :—Tallow: We quote present spot values for the undernoted descriptions of tallow :—Good mutton, 34s 6d per cwt; good beef, 32s 3d; mixed, 30s 3d, Market firm. WOOL SALES. ' ■ Messrs. Dalgety and Co., Limited, write:— " Owing -to an error in transmission our cable advice which appeared in Saturday's issde . regarding the drop of 25 per cent, on wool refers to the opening prices of this - year's Australian sales in Adelaide as compared with the corresponding sales there last year." WELLINGTON STOCK EXCHANGE. [BST TELEGRAPH.— SPKCIAIj CORRESPONDENT.] Wellington-, Monday. On the Stock Exchange to-day Bank of New Zealand shares sold at £8 10s, Standard Insurances at 22s 6d, Waihis at £9 Is, and. Talismans at 41s 6d. ■■.-,._■' ... . DUNEDIN STOCK EXCHANGE. [BY TELEGRAPH.— PIIBSS ASSOCIATION.] • V IJONEDIN-, Monday. The following Stock Exchange sales have been recorded Talisman Consolidated, £2 Is 9d and £2 2s (two parcels); Waihi Grand Junctions, £1 14s sd. . • ~ ; WELLINGTON PRODUCE MARKET. [BY TELEGRAPH.—OWN CORRESPONDENT.] Wellington, Monday,

The demand continues strong for all lines of fruit. Local cooking apples are now in very small supply, Tasmanran meeting the bulk of the demand. -Record prices were realised last week for mandarins from Sydney, while inquiry for local lemons is strong at 6s to 7s per case. . Prime choice coloured dessert apples realise 15a to 17s per case; prime, lis to 14s per case; prime cookers, lis to 13s 6d per case; others, 6s to 9s per case. apples arrived in good order, the demand, however, being somewhat sluggish at 14s to 15s per case. Choice hothouse grapes realise 2a to 2« 6d per lb. Hothouse tomatoes are worth Is to Is 4d per lb; inferior, 6d to 9d per lb. The California!! onions arrived in very poor condition, selling nominally at 16s to 16s 6d per cwt; Japanese, 18s to 18s 6d per cwt. Potatoes are very sluggish, heavy consignments arriving from the South. The present value is 5s to 5s 3d per cwt. Asparagus is ■ worth Is to Is 3d per bundle; rhubarb, 6b to 8s per dozen bundles; green peas, Is to Is 3d per peck; lettuce, 48 to 5s per case; choice cauliflowers, 7s to 98 per sack; cabbages, 7s to 9s per sack. Fresh eggs arc steady at Is per dozen. ,-■.-.

. HIGH COMMISSIONER'S MARKET CABLEGRAM.

; [BY IT.I.EGUA.VH.— ASSOCIATION.] ■ ' Welwn-gtos, Monday. . The High Commissioner's market cablegram, dated London,. October 3,' is as follows:— - Mutton: The market is dull. Trade for all classes has been very alow and prices have been barely maintained. The following are current quotations:—Light weight*; Canterbury, 4£d;

North Island, 3id. Heavy weights: Canterbury, 3Jd; North Island, 3-Jd..' /v : . , Lamb: The market has a better tone this week. Stocks on hand are light and the market .may advance further if the demand does not" abate. Canterbury is worth sjjd and other than Canterbury s^d. Beef: The market is .quiet and likely -to go lower. Supplies of American chilled are large. New Zealand hindquarters are worth 3Jd /and forequarters 3|d. / ; . *■!■ Butter: The market Is firm, but the demand only moderate. Second grade is plentiful, but. the demand is chieflv for best' quality. Danish is quoted at 1245, Siberian at 109s, and Argentine at 116 a. ■ . - -. " '■',:>"-.;)/ Cheese: The market is dull, but. prices are Arm, and there is no change to report: Hemp: The market closes weak, with a lower tendency in prices. The following ore fair current quotations:—Good fair grade, on spot, £27; fair grade, on spot, £23; , fair current, Manila, on spot. £23 10s. October to' December shipments: Good fair grade, £25 15s; fair grade. £25; fair current Manila. £23 10a, '■ Last week's = output from Manila amounted to 12,000 bales. Cocksfoot, 'seed: The market is dull and poor business has been done. Bright clean 171b seed realises 85s per cwt (nominal). Wool: The market is quiet, with a tendency in favour of buyers. Kauri gum: The market is steady, with very good demand. Current quotations are: Ordinary to fair threequarter-scraped, 1655 ; fair ■• halfscraped, 100s; brown, fair half to threequarterscraped, 90s; brown pickings, common to good, «**; bush, fair to good pale and amber scraped, 120 i. ' •'./.: '•'

LONDON. . ■ By Telegraph.—Press Association.Copyright. LONDON, October 4. ;, ./..; ,; ': METALS. .;. /'-''■ i Copper: On spot, £59 12s 6d: at three.months} £60 10s. • r ■• Tin: On spot, £134 ss; at three months, £135 155.. ... . -.■■■■-$ Lead, £13 8s 9d. v Fencing wire, £6 8s 9d.. ', , COPRA AND 118 Mr..-'.. Copra: Large business is doing in South Sea iii bags at. £17 to £17 7s 6d. ' Linseed oil, £23 ss. f Hemp: The market is irregular. September to November shipments. £25 15a. WOOL. ': •Spirited sales are recorded, pi-ices being firm, but unchanged. To dale 56.010 bales have been catalogued and 50,043 sold at. the London including Arakikia 5Jd, Turua 6d, and Homebush. 6JJ. ■■ / FROZEN MEAT. Rabbits: Very firm. Large Melbourne."! ore retailing at 14s 6d to 15s 6d, Sydneys at 16s to 16s 6d, and young at 14s 6d to' 15b. Hares: The market is firm at 30s per dozen" ex store. ■/Mutton and beef: The Fror.en Meat Trade Association's Smithfleld market quotations for the undermentioned classes of frozen meats, based on actual sales of not less than 100 carcases of mul-' ton or lamb or 23 carcases of beef of fair average quality, are as follow (theiie quotations are not for selected lines, but for parcels fairly representative of the bulk of the shipments now on the market):— Zealand mutton—Crossbred wethers and medium ewes, North Island, 551b to 6511), 3Jd : others unchanged/' New Zealand -lambs —Canterbury, light, 28lb to 361b,' s£d ; medium. 5 5-16 d; heavy, 361b to 421b, 4gd. Others .and beef are unchanged. River Plate—Sheep, unchanged; beef, ox fores unchanged. y 'SHARES.;. ;.. ■'•';'' Waihi: Buyers, £9; sellers. £9 2a'6d. """'?- Waihi Grand Junction: Buyers, 325; sellers, 355. LONDON FINANCIAL JOTTINGS. [FROM OUR OWN CORRESPONDENT.] , . I :'/', LOXDON, August 28. * The Governor of the Gold Coast reports that the output of gold from the colony, including Ashanti, during July amounted to 23,4000z, valued at £91,172, and concentrates to £3400 sterling. There is talk in the city of the coming flotation of a Wanganui loan Matters have only reached the preliminary stage ajj yet, though the flotation will be in the hands of the Rank ot New Zealand. _ The official statistics, which have just been published, of tho financial position of New York city show » remarkable growth in the value of taxable property. The total assessed valuation of all taxable property is given for the past year as 7.158,190.400 dollars. As compared with the previous year's figures the total assessment- value shows an incroase of 437,490,467 dollars. Tn order to , meet increased expenditure the Spectator suggests a universal, income tax. The detail* of the. proposed system arc necessarily somewhat, meagre, but the amount that might be'obtained by a slight universal income tax is rather ingeniously arrived at. It has been calculated that the income of the non-incomo taxpayersthat is, of persons who bavo less than £160 p«r annum— something over a thousand million a year; and "let us suppose that an income tax of balf-a-fartbinjr in the shilling were imposed under tho new universal income tax upon those who are now exempt. ' Such an impost would be roughly,] per cent. To levy a tax of 1 per cent, on a thousand millions would mean, -if everybody could be reached, 10 millions a year.*';' It is clear that a, good many people would not be reached; and also that 'the' cost of collection would be very heavy. . • , •/..• •s;Sir .Ernest. Cable, a former member of the Viceroy of India's ,Council and an ex-president of the Bengal Chamber of Commerce, writing to the Times, maintains that there is an enormous amount of estimated, he says, by persons of the highest authority at £3^,ooo,ooo—lying fallow in India. i " It Is common knowledge," he says, 'that for/years past India has been absorbing gold and silver. The late Mr. Henry Dunning Macleod said in his book on the Indian currency' that persons of the highest authority estimated the hoards" at £300,000,000, and one financial organ says that- the hoarding averages 11 millions • sterling yearly. Surely,'? proceeds Sir. hrnest Cable. " it. is worth while making an attempt to utUlgo some at least of these dormant resources for the f benefit both of the people- and the country at large." • !

BUSINESS DONE YESTERDAY. Saturday's ' closing sales. Kauri Timber (con.)—2nd call,(14s. ... — May Queen—2nd call, 2s 3d, 2s 6d, 2s j 7d;.3rd call, 2s 7d to 2s lOd, 2s 9d, 2a 8(1, 2s 7d ... ; ... ... ... 0 2 0 New Sylvia call, 2s 7d, 2s 6d; 3rd - call, 2s 5tl, 2s 6t1, 2s 7d 0 2 5 Watotahi— call, 2s 8d , ... ... — Consolidated Goldtields— call, 16s 9(1 0 17 0 Progress Mines—1st call, lis 3d ... — Champion (paid lip)3rd call, 5s 4d ... *— Champion (con.)—3rd call, 4s 6d, 4s 5(1 — Crown— call, 4s . ... — Tairua Golden Hills2nd call, 7s 7d ... — Talisman—2ud call, 42s 6d; 3rd call, 42s 6d, 42s 9d ... ... 2 2 0 Waihi— call, £9 3s 9d; 3rd call, £9 3s 9d, £9 3s 6d ... ... .939 Waihi Extended— call, 3s 5d ... 0 3 4 VVaihi Grand Junction—lBt call, 34s 6d, " 34s 9d ; 2nd call, 34s 9d, 35s, 35s 3d; ' 3rd call. 35s 6d, 359 9d, 36s, 36b 3d, 36s 6d, 36 3d ... ... ... ... 1 13 9 CLOSING QUOTATIONS. Sellers. Buyer* £ e. d. £ *. d. BANKS— New Zealand .... ... 8 16 0 8 12' 6 National ... ..." ... 6 3 6 - 5 1 6 INSURANCE— New Zealand ... ... 3 14 3 3 13 9 National ... ... ... 19 6 190 South British ... ... 2 14 0 . 2 10 0 FINANCIAL— ; ; New Zealand and River 1 Plate ... ... ... — 1 11 3 COAL . llikurangi . . ... 0 14 6 0 13. 6 Nort. Co., Ltd., 10s paid 0 13 6 — Taupiri Mines, Lt#l. ... 0 18 3 0.17 9 Went port ... ... ... — 6" 7 6 Westport Stockton ... 0 9 3 0 9 0 GAS— Auckland ... 14 18 0 — Auckland, new issue ... 1 19 110 SHIPPING— New Zealand ... ... — 6 10 0 Northern, paid up ... 0 16 9 0 16 6 Northern, con. ... ... — 0 7 6 Devonport Steam Ferry 1 14 0 112 9 TIMBERKauri, con. : ... ... 0 14 0 0 13 8 MISCELLANEOUS— Auckland Tramways, pref. ' 13 6 —, Auckland Tramways, ord. 116 — D.S.C., Limited . ,..- ..." 0 4 8 : 0 4 6 . Grey and Menzies, ord. ... 0 8 9 — • N.Z. Portland Cement Co. 17 0 16 9 N.Z. Portland, Cement Co., new issue .. ... 0 16 0 0 15 9".. New Zealand Paper Mills — 13 0 Wilson's ■ Portland Cement : i Co., pref. ...■ ... ... 119. 0. " V — " > Wilson's Portland Cement * Co., ord. ... " ... , ... 1 16 3 . 1 15 9 MINING— Dixon's Consolidated , ... 0 0 4 0 0 3 Halcyon ... . ... ... 0 £ 5 — Kuranui ... ... ... 0 0 8 0 0 5 Kuranui-Caledonian ... 0 0 11 0 0 84 May Queen ... ... ... 0 2 8 0 2 7 May Queen Extended ... 0 0 4} 0 0 24 New Monowai ... ... 0 0 8" .0 0 6 New Occidental ... ... 0 0 24 — New. Sylvia ... ... ... 0 2 8. 0 2 6 Old Alburnia, paid up ... 0 1 J.- 0 0 6' Saxon ... ... ..4 0 :1 .2 0 1.1 Southern • Queen .. T ... 0 0 3£ — Victoria • ... .... ... 0 0,10 »• '0 0 7i Waiotnlii ... ... ... 0,. 2, 9' ? -0. 2 8 ; Uwi. I il. --■-->«« -0• 3 6 ' 0 ; -3- 0 - Watchman.. .... . ... 0.. 0 .4,, . .. .— Mount Zcehan, con. ... 0 0 3 " 0 0 2 Blackwater 16 9' 156 Consolidated Goldflelds ... 0 17 0 0 16 9 Progress Mines 0 12 0 0 11 6 Golden Pah ... ... 0 0 34 0 0 24 . Hauraki Freehold ... 0 0 7 — Old Hauraki Gold Mines 0 17 0 16 Old Kapanga ... ... 0 0 21 — South Ivapanga ... ... 0 0 2 — Tokatea, con ... ... 0 0 4 0 0 24 Bendigo *. .. ... ■? ... — 0 0 4 Brilliant Block, 3d paid 0 0 3£ — . Champion, paid up ... — 0. 5 3 '! Champion, con ... ... 0 4 8 0 4 5 Crown ... 0 4 3 0 4 , 0 Dominion, 4d paid ... — 0 0 2 Golden Belt, paid up ... 0.2 0. 019 Golden Cross ..." ... 0 0 7 — Karangahake ■■■,., ... .... 0 1 2 010 Komata Reefs: ... ... ' 0 12 Oil Phoenix, Is paid ... ... 0 1 2 0 10 Phoenix, con. ... ... OlO 009 Pride of Waihi ... ... 0 0 6 — Ready Bullion, con. .:. p 0 ■ 34 0 0 3 Rising Sun ... ... 0 0 5 0 0 34 Shotover. con. ... ... 0 0 4 0 0 2 Silver Hill ... ..., •... 0 0 5 0 0 34 Tairua Broken Hills ... 0 2 '6 0 2 5 Tairua Dawn ... 0 0 8 0 0 74 Tairua Golden Hills ... 0 8 0 0 7 6" Tairua Conqueror, 6d paid . 0 0 11 - — Tairua Conqueror, con. ... 0 0 10 ' 0 0 84 Tairua Extended ... 0 0 74 - — Tairua Triumph ... ... 0 10 — Tairua Leads ... ... 0 0 6 " Talisman Consolidated ... 2 2 9 '226 Waihi ... ... ... ... 9 3 6 ' 933 Waihi Beach ... ... 0 0 4£ ,0 0 3 .Waihi Consolidated ... 0 2 1* 0 19 * Waihi Extended ... ... 0 3 6 0 3 5 ' Waihi Grand Junction ... 1 17 0 ' 1 16 6 Mountain King, con. ... 0 0 54 0 0 5 Lanijran's Antimony Mine 0 0 6 0 0 4 CALL AND DIVIDEND LlaT. Dividends £ ». if. Bank of Australasia — ... 2 10 0. Now • Calls. Golden Belt, September 15 ... 0 0 1 Now Old Allxurnia, September 14 ... 0 0 2 Now May Queen, September 15 ... 0 0 1 Now Trafalgar, September 23 ... 0 0 04 Oct. 16 Tairua Consols, October 5 ... 0 0 1 Oct. 20