FINANCE AND TRADE.

New Zealand Times, Volume LXIX, Issue 3675, 27 February 1899, Page 7

FINANCE AND TRADE.

* 1 Naw Zealand Times V office, Saturday evening. The Custom* returns for to-day amounted to £ViO 3a 10d; for the w"ok, .£7532. 'I ho . boor duty for the work totalled JSIG7 5s 2d. > < • Tho quantity of gold exported from I<hvw Zealand during tho tnnrtth of ■'January was 33,24902),agajnet 25;703f si for tbn corresponding month of , 1858, showing art increase of 74850 z. .the iuoreaso in vivlua being £27,441, oi about 25 .per ’cent. I‘ho gold mining industry is certainly in a mote active condition in almost all districts. Oil the Northern goldfields tho developments of the put eighteen ’months are' jast beginning to hive their effect; (Trt my hitherto silent rninoaihave become bullion-producers. _ The steady out put of the wonderful Waihi mind-ie tho chief factor in tbn improved returns, The battsrv power of ibis great mine is to bd increased from'l9o to 290 stampers, ami a change ia also’ to be made in tho process-of troatment When these improvements are oftooted.the '‘outpntr of tho Northern goldflolds will bn materially increased. The - exports of - the hiatal from the various districts last mouth, compared 'with January; 1898, show a-. Under!— •■ • * _' ■ , " .January. 1893. January, 1898. ■ • ■‘ l Ox. " Ox. £ Auckland ... 7,407 -20,555 7,Ml 29,0(54 Oroymouth... 8.729 -34.910 3.758 • !•> 934 Dunedin ... 10,000 , Ct,3o>i 8,073 SO 10■< Invercargill 1,107 44-’S r 877 3,308 Westport ... ■■■■-r-i >) 1,800 ■■- , 7 4(50 Hokitika ... 33,219- KJ0,207‘ i 5,703 103,760 The increase recorded'lisfmonth is dno principally to Otago- and Southland, the contribution of the former bains- nearly 100 per cent, hotter than last year. D- edging and sluicing are just now tile favourite methods employed in obtaining l gold, and the rapidity with which companies aro being mutiplied, especially dredging -companies. loads to the belief that there is- a strong probability of tho business being overdone. A brokers’ boom is very nice for the brokers while it lasts, bat the unsuspecting invesfors invariably have to stand the brunt rtf the collapse when it comes, and mining, slumps have a disastrous habit of turning up after a feverish boom.. * The gold'-prodncHon ofstlio- world ia 1898 is estimated by the “ Knginoerinpand Mining JoUfnal, ,r (New , York) at 13:805,407 fi'ioo,noeß'iiofr;irli9 -■ l vatuo'iof >.£57,243,799, - ns compared with 11,39 i,475.fin0 ounces of tho value "of-'1547,400,490. Those aro estimated figures, ‘but/’ they-ore- bafiod--npon -the . best dataavailable; and may-bo aeoeptod aa very nearly correct. ' -The gairt last year was t-qnxl to about-019,000.000 sterling,, and it is tho enormous amount of the motrl llrit in uo-.v . produced" that baa sent ■-■tho ■■•■bimetal ics qneition to tho background. The production , ot the past, throe years is-more than equal to the demands hotk for currency aad tho art), anti there is therefore no necessity to supplement the currency with silver. ‘lho increa ed produoiiion.will enable,lndia’',to obtain a gnid ourrenoy without 1 causing - any‘serious dis furbaneo, and gold ia being accumulated in ; Indiwin iintieinatiov of the event.- .Thaprodnotion of gold in fine ounces for the post-: eight years was ns fellows ;

It will bo soon that the output of 1898 is more than double what it was in 3891. Tho industry gives no indication of, collapse, on the contrary, .now fields being discovered, while the; cheapening of'production by. improvements in mining methods and matallurgioal. practice. and the growing tendency of capital to seek investment in gotdminiag a-v mi industry which aim.) at tho production of a metal that, nominally at least, is not subject to market fluctuations, will keep the industry in a stale of activity.

The principal contributors to the inoroased pold yield of the past yea? wore tho Kami, Australasia and the Klondike. The notha' output of South Africa; India and Australasia lev 1898 showm an .iuorqaao 'of 2;135,20.>0rnde ounces as compared with the previous ye ir The produotion of the countries named, .which are practically all' British, was last year 8.510,338 ounces, or more than half of the entire output of 1808. The yield of the principal gold-producing • countries for the past-two years compares as under :

13,3)3,028 9,415,533 2,858,093 The contribution of the rest cf the world is very small, and it will >be J noticed that this source of wealth is under the control of the English-speaking races. Most of the gold, however, goes to London, and it is from there sent to various countries. Daring the past year the value of the gold imported into the United Kingdom 'was 721, while .£30,590,050' was exported, the not gam being .£7,131,410. In oflditiou to this the colonies sent 'considerable gold shipments to the United- States and: the East onAondon ao: count, sc that practically the entire output of the world is controlled by Loudon bankers.

It seems singular that while the price of flour should rule low, mill offal as represented by pollard should stand at a good price. The mattar is not boyo id eiolanat’on. Last year a considerable quantity of flour was imported into Sydney from California while the high price ruling in the colonies for wheat restricted the output cf flour and, consequently, of pollard. The past season's., demand: was fully equally to the supply, and the now season begins without any reserve stock in millers’ hands, while the demand continues good. Under these cipcumstiincoH' it is not surprising that fall values should,bo given for all parcels. With the existing low price of wheat, and the probability that miners throughout the. .colonies will bo able to keep their machinery fully employed, the output of pollard ought soon- to overtake demand, when prices may bo expected to. revert to their normal level.

The balanos-ahoet of the Standard Eire and Marino Insurance Company, to be submitted to the shareholders on the Gth March, shows tho net premium income for the past year to bo £51,814, the losses being £30,017, or G9'sl per cent., and the expense* .£13.444, or 29'K1 per cent , the underwriting profit boing -C-3VL or '<l3 pel- cent, of the income. This result is considerably bettor than that shown for 1897, whou the loss oh underwriting was *£8507. The results ,of 1808, compared with previous yours, sho v ivs under:— ■ Year. Premium. Losses. Expenses. Profit.

The company is paying a dividend, and the money for this purpose oqmos principally from investments, which during 1898 yioloed *21013. 13s 81. For two successive yearn underwriting in Now Zealand, has .boon profitless, and the foot has helped to bring homo to the iStato-sooialiats who have been agitating for State fire insurance the very hazardous nature of tho business.

Tho National Mortgage and Agency Company of New Zealand, Limited, report as follows: Wheat Not much business passing. Old wheat, 2a fid to 2s fld ; n«w.' 2a ltd to 2s fid. Flour, £7;'oatmeal. £9 Ida Oats—Prime milling, la 8d ; feed, Is 7d ; medium, la Gi ; duns. Is 7d; Tartars, scarce, la 9d ; Danish. Is 7d : black, la On Potatoes, 435, April-May shipment for Dorwonts. Bran, ,47s fid ; pollard, scarce, 735, Burier—Factory, - Medium, 4Jd i loaf, 5d ; largo. 4,)d. Linseed, £l2 ; ryooorn, 3s fid. Barley —Chevalier, prime. 3s fid ; medium, 3s to 3» 3d ; Capo, 2s fid. Chaff-Oaten sheaf, £3 Ids ; wheat straw, 3ls. Paled hay, £ I Ids Quotations, f 0.b., bags and p4Cknges.inoludod. Business is restrietod," : bhySrs , 'hcHillgJb'aofc pendingarrival of new crop.

A. G. Taito and Co. report for their weekly horte sale The entries were only a medium lot. There was a very good attend-

anco. Buyers for good harness boraea were present, but bad to go away unsatisfied. roe draught horsea sold to : rt _ or^ ina ” AC ** ■ and harness horees. £0 to £o 19s ; harness,. £i 15a; saddles, to £1 45.; ■ . TIIK SHAKE MARKET.;, ' r,| Tho Wellington Stock and Sharebrokers’ ntf'tfo.a-1 tloo reports on the share market as follows:r-!/, . . , j

]?ino.Onncng. 1801 ... ... 0,320,000 1894 .... ... 7,394,000 1843 ..: ... -7,718,000 180V,.,' • ... 8,783,000 180!) ... ~rr 9,689,000 1800 ... ...- 10,283,000., 1897 ... - ... 11.399,400 1593 .., ' 13,805,400

- 1893. - .1397. Increase... Oz. ' Oz. Oz. South Africa 4.555,009 3,031,071 1,520 335 Australasia ... 3,516,18a 2,956.080 589,502 United States.. 3,110,783 ■ 2 774 935 315.851 Klondike 680,502. 299,407. 337.03-5 India 415,147 389,779' 25 3'8

£ £ £ £ 189} ... 50.645 23,310 • 15,469 (5.S3 5 1891 ... 48.035 29,513 11,931 3,551 189> ... 49,008 33,000 15.63? 7(59 1800 ... 5".9T7 33,701 15,59'? 1,679 1897 ... 50,058 43.126 15.539 ' 8,007* 1898 .... , S :,8I4 36,017 •Loss. 16,441 353

BUSINESS 8BLLKB9. DOYENS.' — £ s. a £ s. a. £ s. a . -IIAUKS, • . 2; C 6! i National N.H.’W Union... ’ & .V/’jV/ ■' 20 12 C , FINANCIAL., 'Build-tog . . .. . . J..2, .. U C ■■ aiuVIiweatoeht 4. iUOTT IU ijzifjj' '■ Metropphtap.y.Buihl- ■ 'IriSit *l4 P a >“. ; 1 ■; National', ..Mortgage An'dWgBney—'"■‘-'t'. u j>yii.3i A X i-j c II QxBiy 0; ’ N.75. and River Plaid fjimd Mortgage .. i 0 dix - 0 t'. fl 0 0 . I’otoiio-iluttlJuilding ul-‘' J -ji. 5-5 of' Sooiety ... iijfc. i ;OA8,. # /Vuolirlailfr paid) fiT-l —1:ul cJ— L:/ U...Gj.D 10 5 0 Auckland (£810s paid) Chri’s toll u.r e hc(£u — ~~~ J 4££ 6-J 1 .v> ijJii , 10‘iSsJt . paid) — ■ 9 15 0 . 1 ,10 '■‘•U ; B‘* 6 ' Pcjldinff ■■■*,,;j /; Hokitika .. '•* UAilZUi Lyttelton . Thames •> u hxarC n Jiii75«.v : Wanganui — Wellington (£10 paid] ta f / : Wellington (£5.paid] , 4 INHUDANCE. . vif r National , > •' — ■ t- . N 55. Accident, -c3 3 0 2 10 0 New Zealand,. ■ 3 5 0 South British. . , 4 .. . ., "r~- t • 'a ■ *T- ;■ MEAT PIlRSlSnVINO. . Canterbury Frozen ■ ■ • J 8 15 o; rr.- ■ ■ ,. Christchurch Meat.. • , r rr. • 10 ID 01 17.10 0: dear'Meat (£10 pant) T* GoUr Meat (£1 paid) - 4 ■ ~~ ... — N.Z. Refrigerating .. Wellington Meat Exe io o. . . port (£5 paid) , .. ’J 4 ■' ■’ ■f TT Wellington ;Meat Iilx- ■■■ ; i '■ 4 19' 0; port (£4 paid) Wellington Meat Export (£212s Od, paid) 3 4 0 -. ' - : HAILWAYS AND SHIPPING, 11; 0 0 11 o a Manawatu Balia".. 10 0 " ”, N.Z. Steam Shipping . —; ;.v 4 15 0 9 18 6 0 8 3 Union Steam Ship .. — — Northern Steam Ship —’ . WOOLLEN MANUFACTURING, fviiiapoi Woollen ,. — — . Momikl Woollen .. — 4 .7 0 Wellington Woollen Co. (old issue) .. — ' Wellington Woollen Go. (new issue), £3 3 0 0 10s paid — ■ - COAL. Tartpirt . . - .. _ 19 0 1 8 0 3 1 0 Westport 8 1 6 — Ralph’s Taupiri (5s paid) .. .. ■. , 0 7 0 0 7 1 MISOBIXASBOUB, 10 0 0 N.Z. Drug (£2 paid).. 2 12 0 2 10 O' N.Z. Drug (£1 10s 1 IB’ 6 paid).. ■ .. ..... , !■ •:*“ Slmrland & Co,/. 1 '■ : " 0 12 ‘G Wellington Fresh Food and Ice Co.,. • ali pat ■ ■' : < J r— ■■ GOLDMIHINQ, 0 8 0 Croesus.. . .. ■■ .. — ■ ll Uoroules G. and 8 .. 0 19 .4 '■ Australian Tih 1 : .". 0 2 3 Members of the Association ■ :...Barr*- Leary & Op. -E.Laery,', 1 ■/, o,;;; t A.tT.iButo. r . D. T. Rtuaic.fChairoia'i - • v A, Or. Taino & Co: Haroourt & Co. . Turnbull & Watkins ,rame?i TTendoraoti • D. II. I , Wilson 1 IS. W. IGrkby