COMMERCIAL.

New Zealand Herald, Volume XLV, Issue 13938, 21 December 1908, Page 5

COMMERCIAL.

mm--x'±- ■ ■ ■ ■ ♦ . •The sharemarket was quiet on Saturday. In investment lines New Zealand Insurances sold'at 75s 6d, with late sellers at 765, and more buyers at 75s 6d. Northern Steams gold at Hs 8d (paid up), and Kauri Timbers a t 31s' 6d (paid up). In mining lines Waihis declined slightly, business being ' done at £8 18s fed, with further buyers at that, price, sellers £8 19s. Waihi Grand Junctions Bold at 26s 6d, late sellers asking 26s 9d, with buyers at 26s 6d; Talismans soid at 435, fellers closing at 43s 3d, buyers . at 42s 9d. Saxons changed hands at Is 7d; Old Haurakis at Is 3d; and Golden Cross at 2id. ;f AUCKLAND STOCK EXCHANGE. BUSINESS DONE ON SATURDAY. Previou* day'« • , r . closing sale*. ;; jrV'V ' ' £*.<!. Zealand Insurance 75s 6d Northern Steamship (paid up)— 14s Sd /Kauri Timber (paid up)— 6d ... — Saxon— lst call, Is 7d ... 017 . Old Hauraki —ind call, Is 3d "... ... 010 -.Golden Crews2nd call, 2£d _ Talisman —2nd call. 43s 2 2 9 Waihi-lft- call. £8 13s 6d 8 19 0 .' ! ' : Waihi Grand Junction— 2nd call, 26s 6d 1* 6 9 CLOSING QUOTATIONS. ;;/' * Sellers. Buyers. n £ s. d. £ s. d. . B.VNKSNew ' Zealand 811 0 3 8 0 National 5 5 0 ' INSURANCE— .'New Zealand 3 16 0 3 15 6 ! South British 2 9 6 280 FINANCIAL— New Zealand and River Tlate 112 9 Ml2 0 -" COAL- , Hiturangi _ 014 6 Taupiri Mines, Ltd. ... 019 0 0 18 3 ■".-"■-.". Drury ... 0 3 6 — -■-.-.. . OiSAuckland, new issue ... 1 0 0 019 3 SHIPPINGNorthern, paid up ... 0 14 9 014 8 Northern, con ..0 76 — TIMBER— Kauri, paid up 1 12 0 1 11 6 Kivuri. con 0 14 6 0 13 6 Parker-Lamb, Ltd. ... 1 6 0 — MISCELLANEOUS— \. Auckland Tramways, pref. 116 113 Auckland Tramways, ord. 12 0 10 6 -:;"' D.S.C., Limited — 0 3 6 ■ New Zealand Paper Mills 12 6 — Wilsons Portland Cement Co., pref. — 1 15 0 ■ i>:ning— ,;" bonanza, con 0 0 2j — .• Dixon's Consolidated ... 0 0 3 — Kuranui 0 0 6 — Kurauui-Caledoniaa ... 0 0 10 0 0 7 May Queen ... ... 0 2 3 0 2 0 May Queen Extended ... 0 0 3 — New Monowai 0 0 .9 — New Sylvia 0 14 0 10 Old Aiurnia. paid up ... 0 1 4 0 11 Old Albumin, con. ... — 0 0 4 Saxon 0 17 0 16 Southern Queen ... 0 0 3 — Thames' ... 0 0 3 — Victoria. ... 0 10 0 0 10; Waiotahi ... 0 2 5 02 3 Waitangi Consolidated 0 2 7 — Progress Mines 0 10 0 0 9 0 Golden Tan ... ... 0 0 2 — Hauraki Freehold 0 0 5 — Kapowai, con 0 0 4 — Old Hauraki Gold Mines 0 13 0 12 Tangiaro, con 0 0 6 — Bendigo ... 0 0 6 — Brilliant Block, cou. ... 0 0 2 — ComstocK. con. ..... 0 0 3 — Champion, paid up ... 0 2 9 — Champion, con ... ..» 0 22 — Crown ... 0 3 11 0 310 Golden Belt, paid up ... 0 0 9 0 0 7 Golden Cross 0 0 4 — Karangahake 0 11 — Komata Reefs ... ' ... 0 0 105 0 0 9 New Waitekauri ... ... 0 0 i!i -* ■;'•".-■ Phcenix. con. 0 0 < — Rising Sun ... 0 0 6 0 0 3 Tairua Broken Hills ... 0 2 0 0 19 Tairua Golden Hills ... 0 5 6 - — ,-Talisman Consolidated ... 2 3 3 2 2 9 f Waihi ... ... 8 13 0 8 18 6 Waihi Beach 0 0 3- 0 0 2 Waihi Consolidated ... 0 1 9 — Waihi Extended ... ... 0 3 2 0 *2 11 Waihi Grand Junction ... 1 6 9 16 6 Mountain King, con. ... 0 0 5 0 0 4 CALL AND DIVIDEND LIST. Dividends. New Zealand Loan and Mercan- '■■',/- tile Agency Company ... — Now ".'. Premier Joinery Manufacturing. Company ... lOp.c. Now ..■ Kauri Timber Company ... — Now """ Calls.', ... , ' ... '",. ... - ~. -. Southern Queen," December 3 ... 0 0 0£ Now Magnet, November 20 ... ... 0 0' 1 Now Tangiaro, December 16 ... ... 00 1 Jan. 6 i; Old Alburnia. December 14 ... 0 0 2 Jan. 6 SK'i - Kuranui, December. 5 ... ... 001 Jan. li ;. Waihi Extended, December 17... 0 0 2 Jan. 14 INSURANCE AND EDUCATION. There seems to be no end to the novelties ' being introduced by insurance companies for the purpose of catering for the varied needs of the age. The latest is that whereby parents and guardians may secure for the children" under their care a public school ',v: education and. a university career, or either .*■.,.'•. of those advantages, at a moderate cost. Under the system proposed the parent anticipates the future, and sets aside a small .. sum annually in premiums during the early years of the child's life, when the cost of education is small, thereby securing at a specified age an educational annuity, payable for the term x>i years fixed at the outset. No loss can arise under a policy of this kind, .. as, in the event of the death of the child -.■-- before the annuity commences, all the premiums paid are returned in full, or in the case of the death of the parent no further premiums are required. ' BUTTER AND EGGS. The wholesale quotations for butter and eggs for the week ending December 26 are as follow : — Butter: Factory, Is OJd per lb; farmers', 7d per u, r , lb. Eggs, lOd per dozen. . LONDON MARKETS. .- The following cablegram lias been received by . Messrs. Daljjety and Co., Limited, Auckland, from their London office under date the 17th. . . jest..:— ..:,..'.■ Frozen meat : Quotations for New Zealand prime ox, beef are M follows :— Forequarters, 3d per lb; hindquarters, Sjd per lb. The demand for NewZealand lamb is limited, and for New Zealand prime crossbred heavy Canterbury 4gd per lb is obtained, with sj?d for light; North Island, heavy 4i<J, light 4£d. The demand for New Zealand mutton is limited. The quotation for New Zealand prime crossbred mutton, heavy Canterbury, is \ >: 3jd, fight 3Jd ; North Island, heavy 3id, light" 3Jd. The demand for New Zealand beef is limited and prices aire nominal; for New Zealand lamb it :.■■■■.. is very weak, and for New Zealand mutton it is also very weik. The demand for Australian lamb ■i is limited For Australian good average quality crossbred, ■ heavy. «gd is obtained and for light ■ '' 4Jd., For Australian prime crossbred mutton, heavy, 2d; light, 3d. Sheepskins: The market closed firmer as compared with last sales' closing rates. Merino Ih'eepskins are id higher since our last cable. Rabbitskins are firm, and it is expected that . the present prices will be fully maintained at the next- Mle>-. * Regarding the cablegram referring to the London wool sales received by Messrs. Dalgety and Co, and nnblished on Saturday, the sentence "Wool continues firm with the exception of new and coarse crosslrreds. which are a half-penny to a pennv per lb lower." they write that the varieties should read, "medium and coarse crossbred." DUNEDIN STOCK EXCHANGE. V.&-'.. . [BY. TELEGRAPH.— OWN' CORRESPONDENT.] DUfIEDIH, Saturday. Although there has not been a large bulk of business transacted during the past week the ' ' mirket has a distinctly better tone and there is evidence that money for investment is easier. ■ •:,.'. Bank of Sew Zealand? are inquired for up to £8 9s. with seller" several' shillings in advance of that price. Insurance shares are generally firmer, •nd a parcel of New Zealand! changed hands yesterday morning at £3 15s. Union Steams have firmed rapidly, and sales have been made at £1 I6i 6d (ex div.), with further buyers at the same price. Westport Coals are on offer at £6 17s 6d, the best buying quotation during the week being ... .€6 13s. Westport Stocktons show a slight ten- ;.'■'•»""•'. dency to improve. D.I.C. preference shares are distinctly weak, with sellers at £1. The selling quotations for Milburns also are a shade weaker, . 'without buyers. Sales were reported in New 'Eealand' Drugs at £2 9s, and more were offering ■* - at the same price. Taper Mills shares are unchanged, while Portland Cements are slightly easier. , In Auckland quartz and other outside mining stocks there is very little change, and not 1 much business, owing to the near approach of , -th} Christmas holidays. Talismans are quoted at £2 2s and £2 3s, and Waihi (frand Junctions eased to s;iles at £1 os 9d, with a slight ten- -•: -■ dency 'to firm. '

DECLINE IN FOREIGN TRADE. The Board of Trade returns for October (writes ■ ou* London correspondent) show no check to the 'decline in our foreign commerce which had pre- •- viously marked the year. There is again a ,-. heavy falling off both in imports and exports, »nd, the slight, tendency toward improvement manifested in the September returns has not I-' been maintained. In imports the decrease last : j month amounts to £8,911,000, or 12 per cent., - v ' whiqh is above the average reduction for the preceding nine months, and brings the total dimnuflllPaS 0 "* date up to the large sum of £46,259.000, or " ptr cent. The export returns are even more unfavourable. The fulling off last month amounts to £5,312,000, or 13.9 per .cent., as against an average of 10 5 per cent, for the previous nine months, while for the year to date the shrinkage »mounts to £33,931.000, or 10.8 per cent. The comparison, it is true, was with a good month » * year ago, showing an increase of 14.8 per cent, xi exports and of 5.5 per cent, in imports, but j§|M'»ot,!», great deal of consolation is to be derived •

abb? tota^S 1 sn " J? **' the °«ly f^ourcrease of £2ar,n e ■ n,o !l th " wtta » is «■ * n S hfc «' which I, k°, m th £ transhipment business, wool traceab 'e to heavier consignments of MESSRS. DALGETY (AND CO. d«rt i ««? n r, NoV^ nb 7 n 13 our London corresponmtSoEffilfi? "V, »»■*. the 24th annual £ London "rTfi. IRP,y and Co wi » be held tore show iw' 1 « hekK P°- rt . 3usfe issUfd the direcfuPdebU rt± ■«" Proline for bad and doubt"rest 0,,' ,?.k Pre ? iafcl In value of securities, inJune » 6 " turc Btoek and debentures up to maina .J».ih- P*y m ' nt ,°f income *«» there retolSdln! ih ,''T dlfc °. f P roflfc and low account. year■ £?w«i br , o "K h forward from last wasTnairil of .'. n May lMt an interim dividend for the Iff iIP "If of 6 P- er cent - P" «n™>'» to £& nm i" TM - r end l.? Dwmb 31, amounting whU-h'fhi' £* Vi ? * b8la »« available of £180.311. Driat«d dlrcc recommend should be approII th« l »" : - £30 ' CO ° in Payment of a dividend cone tit ,° f 6 i ,PrC^ l " P cr anm "n. 'ree of inaW m •J. or l he half ->- par niaking with the "'ffi \™ tnt ' of a bonus of 1 per cent, for the "rear ended June 30 last, free of income tax; £350t0t0 £30 000 ?'' ""?•' tbereb - v r:,i!,in K il t0 £270,000; £«ihXj writing down cost of freehold and fune' £500 ° to the Rta « benevolent fund and £70.311 carried forward. The total Z.™.*. balance t has risen considerably, adun *I*rSii? d - ation *' Btock ' «™'- etc/being up and now exceed £6.000,000 Rills receivable are also up from £137,000 to £495.000. while on the other hand, bills payable have P.!!?. fr ° m £2 f<>.ooo to £506.000. and sundry creditors from £1.998,000 to £2.842.000 and the balances in transit between branches are larger, at £456,000, compared with £295,000. All this denotes increased business, and owing to copious rains the directors are able to report satisfactory conditions throughout the greater portion of AusTHE ARGENTINE BUDGET. Writing on November 13 our London correspondent says :—A Buenos Avres cable message ?l Js: T; , out, for crops'is most promising. the Budget Committee of the Chamber has despatched the Budget project for 1909. estimate S? M^ES * 25.857,871 gold (dollars) and *k«hs? paper (dollars). equivalent to i.22.055,886 sterling, and incomes 66,700,433 gold (dollars) and 99,209,318 paper (dollars), equivalent to 4.22.070.506 sterling. The ordinary income for extraordinary outlays is fixed at 3.000.000 dollars paper for carrying out the centennial independence commemoration and 15,000.000 dollars paper for the renewal of the navy material. These two amounts are equivalent to £1.584,000 sterling, and are included in the figures of expenditure. NEW ZEALAND PRODUCE IN LONDON. [FROM OUR OWN COKRKSrOKDENT.] LONDON', November 13. WOOL. . • During the past week an active inquiry has been experienced for all kinds of wool, and Messrs. Balme mention that a fair quantity has changed hands at prices substantially in excess of those current at the close of the October series. Larger sales could have been effected, but in view of the favourable outlook holders prefer to deal with their stocks at the public auctions beginning on the 24th Inst, Advices from the manufacturing districts are of an encouraging nature, the recent settlement of the cotton strike in Lancashire having led to increased activity in the Yorkshire wool centres and restored confidence in the future course of t-o market. DAIRY PRODUCE. Choicest New Zealand butter is quoted at 126s per cwt by the New Zealand Loan and Mercantile Agency Company, with dairy and milled at 104s to 110s. The season for colonial butter is late this year, but in a manner this should prove a benefit to factories,, as it will allow time for other descriptions to be cleared off the market. Danish butter is slow of sale, and the Copenhagen quotation has been lowered 3 kroner, as against .a drop of 4 kroner in the corresponding week of 1907. Last year the price of colonial, in sympathy, declined 2s, but owing to the limited supply of Australian, and 3teo to the fact that buyers more than ever are showing their appreciation of the sweet, nutty-flavoured grass butters of the colonies, quotations have not been affected. TELTS. • Messrs. Gordon, Woodroffe, and Co. write that sheep pelts of good substance and quality, suitable for splitting, still meet a good demand at quite firm prices, but other classes are only in moderate request, though prices are unchanged. .NEW ZEALAND MEAT. The Colonial Consignment and Distributing Company point out that although some 204,000 carcases of New Zealand sheep have arrived in five weeks, the total arrivals (1,574.828 carcases) are still 279,570 short of last year's figures. Stocks in store are in very manageable compass, and to this must be attributed the fact that prices have been maintained. With chilled beef at present prices no frozen beef is being placed on the market, and the limited business done is entirely ex store. Forequarters have been in fair request until recently, and the quotation for these is firm. LONDON SHEEPSKIN SALES. By Telegraph.— Press Association.—Copyright. London. December 18. At the sheepskin sales 10,000 bundles were offered, including 8520 Australasian, and nearly all were sold. There was a good attendance" and competition was very spirited. Merinos were id per lb dearer and crossbred* Jd. The next sale will be held on February 4. •