AUCKLAND STOCK EXCHANGE.

New Zealand Herald, Volume XLVII, Issue 14427, 21 July 1910, Page 3

AUCKLAND STOCK EXCHANGE.

BUSINESS DONE YESTERDAY. ♦ Previous day's closing sales. £ s. d. South British Insurancelst cull, 65s ... — Taupiri Coal Mines—lst call, 20s 9J; 2nd call, 21s — Auckland Gas (old) —Ist call, 69s 6d ... — New Sylvia—2nd call, 4a 3d; 3rd call, 4s 3d, 4s 2d, 4s 3d 0 4 4 Waiotahi—lst call, 4s 2d 0 4 2 Waitangi Consolidated call, 2a 3d — Watchman—2nd call, Is lid 0 2 0 Ross Goldflelds—lst call, 10s 8d; 2nd call, 10s 9d; 3rd call, lis ... 0 10 9 Hauraki Reefs (con.2nd call, lid ... — Old ITauriiki Gold Mines— call, 4s lid; 3rd call, 4s lOd 0 4 10 Crown—2nd call, 4s 5d ; 3rd call, 4s 6d — komata Reefs3rd call, 5d — > Tairua Golden Hills—lst. and 2nd calls, 2s 9d; 3rd call, 2s lOd — Talisman Consolidated— call, 54s 3.1 2 14 3 Wnihi—lst call, £8 2s 6d; 3rd call, £8 3s 8 2 6 Waihi Iteefs Consolidated—3rd call, 65... 0 6 1 Waihi Extended— and 3rd calls, 3s 3d 0 3 4 Waihi Grand Junction— call, 43s 3d, 435; 2nd call. 42s 6d,'42s 3d, 425, 42} 3d: 3rd call, 425, 42s 3d ... 2 3 3 Hnndsworth— call, 8d — CLOSING QUOTATIONS. Sellers. Buyers. £ 8. d. & 6. d. BANKS— New Zealand 10 18 6 10-13 6 National 6 4 0 6 1 6 INSURANCE— New Zealand 4 2 0 4 1 0 National — 1 11 3 South British 3 5 6 3 4 3 Standard — 14 6 FINANCIAL— New Zealand and River Plate 2 3 6 2 1 0 COAL— Hiku'rangi ' — 10 6 Nort. Co., Ltd., 10s paid 0 11 9 0 11 3 Taupiri Mines, Ltd. ... 1 1 0 10 9 West port 6 16 0 6 13 0 Westport Stockton 0 7 6 0 6 5 GAS— Auckland 3 10 0 3 9 0 Auckland, new issue ... 214 0 212 0 Gishorne 2 18 0 2 17 0 Napier, £10 paid — 24 10 0 SHIPPING Union S.S — 1 15 0 New Zealand 10 4 0 9 17 6 Northern, paid up ... 0 15 3 0 14 9 Northern, con 0 7 4 0 7 0 Devonport Steam Ferry... 1 15 0 1 14 6 TIMBER— Kauri, paid up 1 19 0 1 17 0 Kauri, con 017 6 0 17 0 Leyland-O'Brien, Ltd. ... — 16 6 Mountain' Rimu, Ltd. ... — 15 0 Parker-Lamb, Ltd. ... — 13 3 Premier Joinery Co. ... — 10 0 Taringamutu " — 1 o 6 MISCELLANEOUS— Marks's Turbine 15 0 10 0 Auckland 'Tramways, pref. 15 0 14 9 Auckland Tramways, ord. 14 0 13 9 D.S.C., Limited 0 2 11 0 2 7 Grey and Menzies, pref... 0 11 0 0 9 6 Grey and Meniies, ord... — 0 t> 6 Hill and Plummer, Ltd... 116 10 6 H.M. Arcade Theatre Co., pref. — 116 H.M. Arcade Theatre Co., ord — 0 19 0 Milne and Choyce, pref... 15 0 14 0 Milne and Choyee, B ... 1 5 0 14 0 Milne and Choyee, ord... — 10 New Zealand Drug, £2 ... 2 12 6 2 11 6 ■N.Z. Portland Cement Co. 2 16 •2- 0 0 . New Zealand Taper Mills 13 0 12 3 Rotonia Motor Co. a.- — © 7 0 1 Sharland and ■ Co., pref... — ' 110 Sharland and Co., ord... — 10 0 Tonson Garlick Co., Ltd... 018 6 0 17 6 Union Oil ... — 16 0 Wiseman and Sons, pref. 116 110 Wiseman and Sons, ord... 0 15 0 014 6 Wilsons Portland Cement Co., pre/ 2 6 6 2 4 0 Wilsons Portland Cement Co., ord. 2 4 0 2 3 3 MINING— Bonanza 0 0 5 — Dixon's Consolidated, paid 0 0 4 — Dixon's Consolidated, con. 0 0 21 — Halcyon , ... 00 21 00 1 Kuranui 0 0 61 0 0 5 Kuranui-Caledonian ... 0 1 9 0 17 New Magnet 0 0 2 0 0 1 May Queen 0 4 6 0 4 4 May Queen Extended ... 0 0 51 0 0 3 . Monojrai 0 2 6 0 2 0 Moanatttiarl 0 0 6 i 0 0 4 New Sylvia ... 0 4 3 0 4 2 Occidental Consolidated ... 0 0 31 0 0 2 Old Albumin 0 0 10 0 0 7 Point Russell 0 0 4' 0 0 -2 Saxon 0 19 0 18 Thames 0 0 3 0 0 1 Victoria ... 0 15 0 12 Waiotahi 0 4 3 0 4 2 Waitangi Consolidated ... 0 2 5 0 22 Watchman 0 1 11 0 1 10 Mount Zeehan, con. ... 0 0 6 0 0 4£ Blackwater 1 15 6 1 14 6 Consolidated Goldflelds ... 1 3 0 12 9 Ross Goldflelds ... ... 0 11 0 0 10 11 ' Progress Mines 0 15 6 0 14 6 Four-in-Hand 0 10 — Golden Pah ... ' 0 0 3 — Hauraki Reefs, paid up ... 0 17 0 15 Hauraki Reefs, con. ... 0 0 11 0 0 101 New Success 0 0 3 — . Monte Christo 0 0 3- — Mount Welcome, con. ... 0 0 4 .0 0 3 Old Hauiaki Gold* Mines 0 4 10 0 4 9 Kapanga.'con 0 0 8 0 0 6J Royal Oak, paid up ... 0 2 0 0 1 .3 Royal Oat, con 0 0 10 0 0 7 Union Hairaki 0 0 7 0 0 4 Bendigo \ 0 0 5J 0 0 4 Scddon < ... 0 0 21 0 0 1 Comstock, ton 0 0 31 0 0 3 Champion > 0 0 3 — Crown 0 4 6 0 4 5 Crown Royil, 6d paid ... 0 0 4 — Crown Royal, con. ... 0 0 3 — Dominion, ion 0 0 2 0 0 1 Golden Belt, paid up ... 0 0 6 0 0 4 Golden Belt, con 0 0 21 0 0 11 Golden Cross', 0 0 31 0 0 3 Karangahake \. . . .0 0 2 0 0 1 Komata Reefs; 0 0 6 0 0 41 Mtioriland ..! 0 0 7 0.0 64 Pride of Waiht 0 0 5 0 0 4Rising Sun ...\ ... ... 0 0 4 0 0 3 Tairua Broken? Hills' ... 0 1 9 0 18 Tairua Golden Hills ... 0 211 0 2 9 Tairua Monarcl Con. ... 0 0 3 0 0 2 Talisman Consdidated ... 2 14 3 213 9 Waihi ; 8 3 6 8 3 0 Waihi Beaoh l ....... 0 0 4 — Waihi Reefs Consolidated 0 6 2 0 5 11 Waihi Extended f 0 3 4 0 3 3 Waihi Grand Jihction ... 22 3 22 0 Te Puke Reefs < ... ... 0 0 7 0 0 31 Handsworth ! 0 0 8 0 0 71 Mountain King t 0 0 111 0 0 10j New Waitaia, Ik '.paid ... 0 1 0 0 0 9 1 New Waitaia, coi ... 0 0 8. 0 0 7 I

CALL AND; DIVIDEND LIST. Dividend. j National Bank ..1 12 p.c. Now Hikurangi Coal Co. i — Now Premier Joinery Manlfac. Co. 15 p.c. p.a. July 25 Auckland Gas ...; — July 28 Calls. \ Golden Cross, Juno <0 ... >..0 0 1 Now Commonwealth, July I 0 0 1 Now Moanataiari, July 5 j 0 0 2 July 27 Imperial, July 7 < 00 Oi July » Luck at Last, July 5 0 0 1 July 30 Golden Belt, July l'( ...- ... 0 0 1 July 29 Dominion, July 13 i 0 0 1 July 29 Monowai. June 25 j 0 0 2 Aug. 15 Four-in-Hand, July 2!J ... 0 0 3 Aug. 8

PAP AT AH I TOWNSHIP. The salo by auction! by Messrs. T. Mandeno Jackson at the firm's aultion rooms. Custom-street East, yesterday of 73 qwrter-acre sections in the Papatahi township, ned' Kawakawa, passed off most 1 successfully. Thert was a large attendance, and, the-e being a strong demand for the sections, excellent prices were revised. 11l all 25 sections were disposed of at pri<?s ranging from £15 to £21 p<!r section. The rtnainder will be put up again to-day. I AUSTRALIAN CTTVENESS, . The value of Australianlproduction during 1908 is estimated as follows :4 New South Wales i £60,731,000 Victoria ... ... [» ... 39,869,000 Queensland .. j.. ... 26,012,0C0 South Australia L. ... 16,613,000 West Australia }. .... 14,985,000 Tasmania ... j. ... 6,711,000 Commonwealth .1- ...£164,921,000

. ESTIMATING " GOODWILL" Some little time ago a correspondent asked now " goodwill" was arrived at. According to Mr. Philip Tovey, in the Magazine of Commerce, London, just received, the size of a "goodwill" of a business should be considered in relation to the profits, . and two main rules of judgment should be borne in mind, namely, that the smaller the capital required to produce a given income the larger in proportion inav lie the goodwill, and the more skilled the - supervision which the business requires the smaller in proportion should be the goodwill. In the commercial world a trading firm doing a stead;; business with old-estab-lished connections would perhaps command the largest goodwill. As a rough guide, it may be said that the goodwill of a private trading business ranges from one to live years' purchase (based on the average annual profits); of a manufacturing concern, from one In four years", of a professional connection, one to three years; but that of newspapers and other semi-monopolies will range up to 10 years' purchase.

PROGRESSIVE BRISBANE. Brisbane is making rapid progress as a commercial centre. According to lUe Courier arrangements have just been entered into tor the erection ui meat works at Brisbane and Townsville, involving an expenditure, within two years, of at least £<;uO.OOO. There are reports that other developments in tne same direction are pending. And in connection with wool, developments of almost equal magnitude are m train, developments that promise to advance enormously the prestige and importance of "Brisbane as a woolselhng centre. The wool sold at Brisbane sales for tlie. past year totalled 1b0.751 bales, which represents but a proportion ot the Queensland clip, as some Sydney Customs-house figures just issued show that b1.545 bales of wool were imported from Queensland, and most of this passed through the Sydney marts.

aDDINGTON STOCK sales. [by TELEGItAPH.—.PKES9 association.] CHRISTCHTJECH, Wednesday. At the Addington Yards there were lair entries of stock and a limited attendance. Fat cattle showed an advance, ami lac sheep also brougm Higher rates. in consequence ot the small yarding prime fat lambs were firmer, ana pigs showed no cnange in tats, out stores were in better demanu. There was a better sale lor store cattle in consequence of improvement in the quality offering, and dairy cows sold well. The yarding of store sheet) was much larger than last week, and the quality showed improvement, some very good lines ot ewes being on offer. There was keener competition tor wethers than of late, and prices advanced 61 to 9d per head. Good sound-mouth ewes sold up to 16s> Id for halfbreds and to 17s 6d for three-quarter breda. Other lines of sound-moutn ewes brought lis 3d to 13s, and inferior sorts 9s to 10s 6d; forward wethers made 15s 6d, and others 14s to 15s Hoggets were in good demand and prices in some cases improved to the extent of 9d per head. Good lines of mixed sexes brought 12s to 12s 9d: medium, lis to lis 9d; and small to medium, 9s to 10s 6d. Best ewe lambs sold up to 15s id. and others to 12s. The entry of fat lambs totalled 937, the Quality being better than during last week's yarding. Anything prime sold well at rather firmer rates. There were 680 taken for freezing at 12s to 16s 9d and up to 18s 2d for a few special lots. A few were bought by butchers at 14s to 14a 2d; 140 went to a grazier at 13s 2d, and 104 were passed. There were only about 3000 fat sheep yarded, and this short supply, coupled with the fact that a West Coast buyer was operating, had the effect of considerably hardening prices for both ewes and wethers, and prime lots, which formed a good proportion of the yarding, advanced fully Is per head. Though the market eased towards the "close no .business was done for export. The range of prioes was:— tine wethers to 275, prime 18s 6d to 24s 6d, lighter 15s to 18s: extra prime ewes to 22s 9d. prime 18s to 20a, medium 13s Ed to 15s 6d. aged and light 10s 6d to 13s.

The yarding of fat cattle totalled 291, and the average quality was again, good, a number of station lines being included among the number. There was active competition and prices advanced iji some instances 2s ner 1001b. Steers made £7 to £11 15s and extra £12 to £18, the latter figure being for a show bullock belonging to J. Ferguson: heifers. £5 17s 6d to £9: extra old pen of cows, £4 17s 5d to £7 10s: extra to £9 15s: equal to 19s to 28s per 1001b, according to quality. There was an average yarding of veal calves, which made 4s 6cl to 60s. A small yarding of store cattle consisted principally of 18 months to two and threeyear steers. The quality was better than usual and the demand was more satisfactory. Fifteen to 18-month sorts made 40s 6d; two-year steers, £3 9s to £4 2s 6d; threeyear steers passed at £7 15s: three-year heifers, £4; dry cows. 45s to £4 10s; dairy cows made £3 10s to £9 103. There was a medium entry of pigs, and fats sold at late rates, but stores met with more inquiry. Heavy baconers made 46s to 50s, lighter 37s to 45s (equal to 4d per lb: large porkers, 31s to 36s (equal to 4Jd to 4Jd per lb): medium stores, 22s to 275, smaller 14s to 18s. and weaners 6s to 10s.

BURNSIDE STOCK MARKET. [BT telegraph.—press ASSOCIATION.]

Dunedin, Wednesday. At the Burnside stock market 138 fut cattle were yarded. As butchers' supplies were very short, bidding was brisk, and prices showed an advance of from 10s to 15s .per head. A line of very prime cattle from Southland realised up to £16 7s 6d; best bullocks £10 5s to £12, extra heavy £15 7s 6d to £16 17s 6d, medium to good £9 15s to £10 15s, light £7 15s to £8 15s; best cows and heifers £8 to £9 ss, extra to £10 15s, medium £6 10s to £7 I.os, light and inferior £5 to £6. Sheep: 2365 were penned, consisting of fairly prime quality. Not many ewes were forward, and the sale was very erratic, at prices fluctuating. _ Good kinds of ■ heavy wethers were slightly' easier than last week, and ewes, although Arm at the commencement, dropped considerably towards the finish. Best wethers realised 18s to 19s, extra to 21s 6d, medium 15s to 16s 6d, inferior 13s to 14s; best ewes 15s to 16s 6d, extra heavy to 19s 3d, medium to good 13s 6d to 14s 6d, light 9s to 10s 6d. Lambs: 1139 were penned, and competition by exporters was keen. Prices were if anything a little better than at last sale. Best brought 15s to 17s 6d, medium to good 24s to 255. light lis 6d to 12s 6d. Pigs: About 100 yarded. There was a good quality for small pigs, and prices were decidedly better. Porkers and baconers were in short supply, and sales also showed a good rise. Suckers brought 8s 6d to lis, Blips 13s to 15s, stores 17s to 10s, porkers 32s to 38s. light baooners 38s to 40s, heavy baconers 50s to 565, choppers to 70s.

DUNEDIN GRAIN MARKET. [BY TELEGRAPH.— ASSOCIATION,] « Dunedin', Wednesday. Very little business is being done* in oats. There are very few lines of any size offering, and there is a fair margin between buyers' and sellers' ideas of value. • Good Gartons and Sparrowbiils are' inquired for for seed purposes. Prime milling; •Is IOJd to Is lid; good to best feed, Is 9Jd to Is 10Jd; inferior to medium, Is 8d to Is 9d. .... , Wheat: There has been a fair inquiry during the last few days, but there ib very little change to report. The chief demand is for prime velvet Tuscan, red wheats being neglected. Fair business is being done at quotations, though vendors are inclined to hold velvet- Prime milling velvet, 3s lOd to 3s lid; Tuscan and red wheat, 3s 5d to 3s 6d ; good whole fowl wheat, 3s to 3s 3d.

WELLINGTON STOCK EXCHANGE. [BY TELEGRArH.—PRESS ASSOCIATION.] Wellington, Wednesday. The following business was transacted on the Wellington Stock Exchange to-day:—Blackwater, £1 14s 3d (reported) Ross Goldflelds, 10s 8d (reported), 10s 6d (on 'Change). DUNEDIN STOCK EXCHANGE. [BY TELEGRAPH.—rRESS ASSOCIATION.] Dunepin, Wednesday. The following sales took place on the Dunedin Stock Exchange to-day:—Old Hauraki Gold Mines, 4s lOd • Waihl Grand Junction, 42s 6d (forward delivery), 44s 3d, 435. Sales reported : New Zealand Drug, 51b 6d ; Westport Coal, 132* 6d; Consolidated Goldlields, 22s 6d; Koputai, 21s 6d; Waihi Grand Junction (eight weeks' delivery), 43s 6d; Waihi, £8 0s -6d.

LONDON. By Telegraph.—Press Association.—Copyright. London-, July 19. WOOL. There was brisk bidding at the wool salens todav. Greasy merinos- were firm, but anil faultier were in buyers' favour at the close. The sales included: Waiau, top price lid. average 9£d; Whare, lOd and 9Jd; Tawapata, 10id and 9id. SHARES. Australian Mortgage, 1014; Dalgcty's, 101; Goldsbrough's, 94. VEGETABLE FIBRE IN WOOL. At a meeting of the committee on vegetable fibre in wool it was reported that there was a noticeable improvement in packing. The colonies had responded excellently to the committee's recommendations. (Received July 20, 9.30 p.m.) London, July 20. METALS. Copper: On spot, £53 7s 6d; at three months, £54 la 3d; electrolytic, £57. Tin • On spot, £149 2s 6d; at three months, £150 ss. WHEAT. An Australian cargo of wheat sold at 36s 6d. WOOL. At the sales to-day sales were made as follow:— Waipara, top price lid, average 9Jd; Lincluden, top price ICid, average 10^d.

The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from the if London house under date of July 19The wool sales progress firmly. As compared with closing rates at last sales, prices are about par .to 5 per cent, lower for "crossbred lambs', greasy merino super, coarse greasy crossbred, greasy merino, lambs, fine scouerd crossbred, and fine crossbred slipe, and about 5 per cent, to 74 per cent, lower for scoured crossbred, sooured merino medium, coarse crossbred slipe, scoured merino inferior, and. medium crossbred slipe.