COMMERCIAL.

New Zealand Herald, Volume XLVI, Issue 14062, 17 May 1909, Page 3

COMMERCIAL.

A good tone prevailed upon the Stock Exchange again on Saturday. In investment lilies N.Z. Insuranoes changed hands at 755, with sellers at 76s and buyers at, 755; whilst | Northern Steams (paid up) wero again done at 13s. In mining lines Talismans sold at 51s 6d, sellers closing at 525, and buyers at 51s. Waihis wcro quoted by sellers at £9 6s, and by buyers at £9 5s 6d, without any business resulting. AVaihi Grand Junctions wore disposed of at from 45s to 44s 9d to 45s to 45s 3d to 44s 9d, with late sellers at 45s and buyers at 44s 9d. In Waihi Grand Junction options sellers quoted 19s and buyers 18s 9d, without any sales. May Queens sold at 2s 2d; New Sylvias at 2s 6d and 2s 7s; Old Alburnias (paid up) at Is 6d; Saxons at 2s 4d ; Thames at 4id ; Victorias at Is; Waiotahis at 2s 9d; Waitangis at -4s foci; Mount Zechans at 2£d; South Kapangas at Is 6d; Comstocks at sid; Crowns at ss; Golden Belts at lOd (paid up), and (con.); Karangahakes at Is 8d; Ivomata Reefs at s|d; Maorilands at 4*l; Tairua Conquerors (3d paid) at 2id; Tairua Broken Hills at 2s Id and 2s 2d; Tairua Golden Hills at 7s; Tairua Reefs at 6d; Waihi Extendeds at from 6s 4d to 6s 5d to 6 : ; 4d to 6s sd; and Mountain Kings (con.) at 6d.

AUCKLAND STOCK EXCHANGE. BUSINESS DONE ON SATURDAY. Previous day's closing sales. £. «. d. New Zealand Insurance—7ss — Northern Steam (paid up)—l3s ... 0 13 0 May Queen— call, 2r 2d ... 0 2 3 New Svlvia—lst call, 2s 6d; 2nd call, 2s "7d ... 0 2 6 Old Alburnia (paid up)2nd call, Is (id 0 1 7 Saxonlst and 2nd cplU, 2a 4d" ... 0 22 Thames—2nd call, 4Jid ••• Victoria— call. Is 0J i ® Waiotahi—2nd call, 2s 9d 0 2 11 Waitangi—lst call, 4s 6d — Mount Zeehan—2nd call, 2Jd 00 2i Royal Oak (con.)—lst and 2nd calls, Is 6d — Comstock (con.)— 2nd call, 5-.d ... ... 00 5 Crown— call, 5s 05 0 Golden Belt (paid up)—lst call, lOd ... Golden Belt (con.)—2nd call, lid ... 00 Hi Karangahake—lst and 2nd calls, Is 8d 0 1 8 Komata Reefs—2nd call, ssd 0 0 54 Maoriland—lst call, 4d 0 0 3J Tairua Conqueror (3d paid)—lst and 2nd calls, 2Jd Tairua Broken Hillslst call, 2s Id; 2nd ('-all, ?s 2d 0 2 3 Tairua Golden Hills— call, 7s ... 0 7 0 Tairua Reefs— call, 6d — Talisman— call, 51s 6il 2 11 6 Waihi Extended—lst call, 6s 4d; 2nd call, 6s 4d, 6s sd, 6s 4d, 6s 5d ... 0 6 4 Waihi Grand Junction— call, 455, 44s 9d; 2nd call, 455, 45s 3d, 44s 9d 2 5 0 Mountain King (con.j)—2nd call, fid ... 00 5 CLOSING QUOTATIONS. Sellers. Buyers. £ a. d. £ i. d. BANKS— New Zealand 9 10 0 — National ... ... ... 59 0 56 0 INSURANCE— New Zealand 3 16 0 3 15 0 South British 2 10 0 2 8 0 FINANCIAL— New Zealand and River Hate 1 14 0 1 12 3 COAL— llikurangi 110 0 18 6 Nort. Co., Ltd., 10s paid 0 12 9 — Taupiri Mines, Ltd. ... 019 3 019 0 Westport 6 10 b 6 9 6 Westport Stockton ... — 08 3 OAS-. Auckland 14 10 0 14 3 C Auckland, new issue ... 1 1 0 10 0 Gisborne 2 14 0 — SHIPPING— Northern, paid up ... 0 13 6 0 13 0 Northern, con ... ~0 6 4- 0, 6 3 TIM HE Itj Kauri, con 0 15 0 0 14 10 ' Leyland-O'Brien, Ltd. ... 1 3 0 — MISCELLANEOUS— Auckland Tramways, pref. — 12 9 J Auckland Tramways,' ord. 116 110 D.S.C., Limited ... ... 0 4 3 0 4 0 11111 and Hummer, Ltd. ... 110 — N.Z. Portland Cement Co. 22 0 2 0 0 N.Z I'ort'and Cement C 0.,, new issue ... l ... ' 1 15 9 1 14 9. New Zealand Paper Mills 13 0 12 6 Tonson Garlick, Ltd. ... 019 0 — /Union Oil .. ... ... — 19 0 Wilsons Portland Cement Co., pref, - ... — 1 19 . 0 Wilsons Portland Cement Co., ord. ... ... ... 119 6 118 9 MINING Bonanza, con 0 0 3 0 0 1 Dixon's Consolidated ... 0 0 3 0 0 1 Kuranui 0 010 , 0 0 7 Kuranui-Caledonian ... 0 1 2 0 11 Magnet, con. 0 0 3 — May . Queen 02 3 022 May Queen Extended ... 0 0 3 — New Moaowal ... ... 0 0 8 — Old Alburnia, paid up ... 0 I*7 0 15 Old Alburnia.. con. ... 0 0 10 0 0 7 New Sylvia 0 2 7 0 2 6 Saxon ... ... ... ... 0 2 4 0 2 3. Thames .. 0 0 5 0 0 4), Victoria ... ... 0 1, 0 0 0 11 Waiotahi 0 2 10 0 2 8 Waitangi Consolidated ... 0 4 7 0 4-6 "Watchman 0 0 6. 0 0 5 Mount Zeehnn, con. ... 0 0 3' 0 0 li Blackwater .. ... ... 10 0 16 6 Consolidated Goldflolds ... 018 0 0 17 6 Progress Mines 0 12 6 1 10 0 Golden Pah , 0 0 2 J 0 1* Hauraki Freehold 0 0 5 >03 Old Hauraki Gold Mines 0 0 11 0 0 9£ Royal Oak, paid up ... 01 10 — . Royal Oak, con 0 17 0 15 Lanigan'e Antimony Mine 0 010 ' — Comstock, con 0 0 5j 0 0 5 Champion, con. ... ... 0 0 3 — Crown 0 5 1 0 5 0 Golden Belt, paid up ... 0 011 0 010 Golden Belt, con 0 0 4J 0 0 3 Golden Crosa 0 0 2 0 0 1 KarangahakeN 0 19 0 18 Komata Reefs 0 0 6 0 0 5), Maoriland 0 0 4 0 0 34 Phoenix, con. 0 0 5 . s 0 0 3 Pride of Waihi 0 0 8j • 0 0 74 Rising Sun ... ... ..0 0 3 0 0 2 Tairtia Conqueror, 3d paid 0 0 2i . Or 0 2 Tairua Broken Hills ... 0 22 0 2 1 Tairua Golden Hills ... 0 7 3 0 6 11 Tairua Leads ... ... 0 0 2 — Tairua Monarch .. ... 0 0 31 ' 0 0 2J Tntnia Reefs, paid up ... 0 0 7 0 0 6 Tairua Beefs, con. ... 0, 0 6.1 0 0 5J Tairua Triumph ... ... 0 0 00 2j Talisman Consolidated ... 2 12 C 2 11 0 Waihi ... „ 9 6 0 9 5 6 Waihi Beach ... ... 00 7J 0 0 7 Waihi Consolidated . ... 0 2 5 0 2 3 Waihi Extended .. ... 0 6 5 0 6 4 Waihi Grand Junction ... 3 & 0 2 4 9 Waihi Grand Junction options 0 19 0 0 18 9 Mountain King, con. ... 0 0 6{ 0 0 5 New Waiiaia ... ... 00 10 0 084

CALL AND DIVIDEND LIST. Dividends Talisman Consolidated ... ... 0 16 Mar 25 Waihi' " ... 0 6 0 June 1 Mount Lyell Mining and Railway Company ... 0 19 June la Calls. Golden' Tali, May 5 0 0 1 May 20 Waihi Beach, May 6 0 0 1 Juno 8 ' BUTTER AND EGGS. The wholesale quotations for butter and eggs for the week ending May 22 are as follow Butter: Factory, is OJd per lb; farmers', 7d per lb., Eggs, la 6d per dozen. • DUNEDIN STOCK EXCHANGE. ' [BY TELEGRAPH. —OWN CORRESPONDENT.] Dcnedix, Sunday. Business on the Stock Exchange has been generally brisk during the week, and the bulk of it, was in Auckland mining shares, although a fair amount has also been done in investments. The Exchange has decided in future to quote debentures. National.Banks are'firm in the vicinity of £5 7s 6d, and Bank of New Zealands were wanted yesterday at £8 19s. During the week buyers offered Si 9s for National Insurance,'and Standards were Bold at up to £1 2s 3d, with further buyers yesterday afternoon at £1 2s, without a seller. Union Steams are now quoted ex div., the latest figure being £1 14b and £1 14s 9d lor buyers and sellers respectively. Westports are on offer at £6 9s, without buyers, and National Mortgages are Offered at £3. A sale of New Zealand Portland Cements was reported at £2 Cs 6d, and the market is now slightly easier. New Zealand Papers have been offered at £1 2s 6d, with buyers at £1 2s. Talismans showed a marked rise in value during the week, and as much as £2 lis 6d was offered for them, with sellers at £2 13s.' The market has since eased somewhat, and the closing quotations yesterday were £2' 10s 9d and £2 lis 3d respectively. There has been considerable excitement In the Waihi Grand Junction market, and a very largo number of these shares have changed hands at. prices ranging from £2 8s on Monday to £2. 4s 6d and again to £2 6s 6d. They are now quoted at buyers £2 4s 6d and sellers £2 ss. Waihi Extendeds have also firmed considerably, and much business las been done in them at prices varying from 6s to 6s 6d. WELLINGTON STOCK EXCHANGE. [BY TELEGRAPH. CORRESPONDENT.] Wellington", Sunday. On the Stock Exchange yesterday the reported sales were Talisman, £2 10s lid; Waihi (cum div.). £3 3s". Wa-.tangi, 4s 4d and 4s sd. Bank of New Zealands were inquired for at £9 Is. LONDON FINANCIAL JOTTINGS. [FROM OUR OWN CORRESPONDENT.] ' ■. LONDON, April 8. The court, of directors and managers of the North German Lloyd Company met. on Friday to r confirm tho balance-sheet - and - the profit and

loss account of. the company for the year 1908. Ii wag pointed out that the business * for 1908 had been affected unfavourably by the unusually steady and probably unprecedented falling off in the number of emigrants to the United States and by the great depression in. the freight market, which had been rendered more acute by the rata wars which had broken out between several lines. In 'spite of the strictest economy the traffic. receipts had been so small that it had been found necessary to draw upon the entire, reserve and the renewal funds in order to carry out the necessary writing-off operations. After the closing of the accounts for 1908 the working surplus amounted to 9.218,000 marks, against 32,697,000 marks in the previous year. The report has had a depressing effect in German industrial circles.

After placing £3000 to the reserve fund, the directors of, the British and Australasian Trust and Loan Company have resolved to recommend the payment of a dividend of Is 3d per share, free of" income tax, making 5 per cent, for the year, 1908, and in addition a bonus of Is per share, equal to a further 2 per cent., the whole payable on May 1.

The success which has attended the establishment in this country of the office of public trustee has induced a number of banks and insurance companies to enter into competition with the official functionary established recently by Act of Parliament In some cases joint stock banks ar6 prevented by their articles of association from acting as trustees, but a number have already altered their articles to put themselves in a position to take up this business. So have some insurance companies. The public trustee has the power under the Act. to give his official " imprimatur" to institutions proposing to act as custodian trustees. Six such licenses had been given when the official trustee's report was issued in February, and it is stated that others are about to join the new " trustee' group.

The contract for the great railway to be made across the Andes from Arica. in Chile, to La Paz. in Bolivia, attaining an elevation of upwards of 12,000 ft, and having a length of a little over 300 miles, has been given to Messrs. Sir John Jackson. It is understood that the actual money voted for the sc u -me is 000,000. The staff is proceeding from. England to the railhead.'

At the annual meeting of the Assets Company, held yesterday in Edinburgh, Mr. D. Osborne (chairman) said the directors would go carefully into the question of the reduction of the capital so as to ensure that it be mode on absolutely safe.lines In view of outstanding liabilities. The market value of the. company's holding in the New Zealand and Australian Land Company was largely in excess of the balance-sheet figure. The report was adopted.

LONDON. By Telegraph.— Association.—Copyright. London, May 14. _ BANK OF ENGLAND RETURNS. The Bank of England returns (or the week are as follows:—Gold coin, £36,556,C00; reserve, £27,415,000; proportion of reserve to liabilities, 59.20 per cent.; notes in. circulation, £29,153.000; public deposits, ' £14,859,000; other £40,840,000; Government securities, £25,369,000; other securities, £30,621,000. MONEY MARKET. Three months' bills, li per cent. Short loans, 1 per cent. Bank rate, 2i per cent. ' CONSOLS AND COLONIAL STOCKS. Consols, £85 6s 3d New South Wales 4 per cents., £108 ss; 3i per cents., £99 2s 6d; 3 per cents.,'£Bß 15s. Victorian 4 per cents., £104; 3i per cents., £100; 3 per cents., £87 15e. South Australian 3£ per cents., £99 12s 6d. ■* Queensland 4 per cents., £105 10s. New Zealand 4 per cents., £106 ss; 3£ per cents., £99 10s; 3 per cents., £87 15s. Tasniapian 3i per cents., £99. ■West Australian 3i per cents., £98 7s 6d. WHEAT AND FLOUR. An improvement in America has steadied the wheat markets. Cargoes are in small demand. Afloat is offering at 43s 6d to 43s 9d; May steamer parcels. 43s 6d; Australian, on spot, 47s 6d. Flour is Arm and prices are unchanged in. London, but are irregular in Glasgow, where Australian on spot is freely offering at 32s 6d to 33s 6d, landed terms. METALS. Copper; On spot, unchanged; at three months, £59 12s 6d; electrolytic, £60 10s. Tin: On spot, £132; at three months, £133 2s 6d. Lead, £13 as. Iron, 48s. Silver, 2s 0 5-16 d. SUGAR. German, 10s 6d; first marks, 12s 4d. WOOL. The Bradford wool market is firm, but quiet, and prices are unchanged, American buyers Operating freely. At the London sales Ma.tahui clip realised 10£ d and Omarama lOgd. Sutter. The butter market is firm. Danish 110s to 112s. New Zealand and Australian cleared at late rates, with better inquiry. / KAURI GUM. At the kauri gum sales 700 cases were offered and 137 sold. Bush was. slightly dearer, but other sorts were unchanged.