FINANCE AND TRADE.

New Zealand Times, Volume LXIX, Issue 3745, 20 May 1899, Page 7

FINANCE AND TRADE.

“Now Zealand Times” Office, Friday evening. The Customs returns for to-day amounted to £1238 18s 2d. The details of tho Customs duties collected at tho several ports during the March quarter compared with tho corresponding period "of last year are as under; -r-

There is a shrinkage of ,£lbG during the quarter, a very insignificant sum; still it indicates that the imports hare reached their highest. It is probable that the current quarter will shove a still greater reduction, because of the fact that the prices of commodities have risen, which will tend to restrict the volume of imports. ' The Customs duties collected at the several ports for the past quarter and for the corresponding quarter of 1898 show as follows : ’

A movement of French residents andrepresentatives of French houses, is, on foot to establish a Chamber of Commerce in .Sydney, with brandies throughout., Australasia, the object being to promote the development of commercial inter-., course between Franco and Australia - , by exchanging information with similar or-' ganisations and merchants on the other side of the world, by furnishing news to, the Frondi Government on industrial and commercial affairs in this country and otherwise, and gener ally to facilitate trade between the two countries. One of the Articles of Association appoints the Consul-General—of Franco as the honorary president. •‘f. The dredging boom is strongly in evidence in Otago, and has spread to the other colonies. In Victoria much progress lias boon made with tho industry, and now Now South Wales is being exploited. _ In the Braidwood district the warden, is being besieged with applications for riverbeds and adjoining alluvial, flats. _ A large number of these claims. n.ro being taken up by Victorian and New Zealand capitalists'interested in.the in-, d us try. Altogether about 3000 acres have boon applied for at Braidwood, and there is a likelihood of much more being taken up. Old alluvial diggers view the wholesale taking up of tho rivers and flats for dredging with alarm, and .in, some places ate framing petitions in opposition. At tho same time they are not slow to ask high prices for mostly worked out blocks which form tho connecting links in a good many of the dredging schemes. The development of combines and trusts inthe United States appears to be the direct outcome of the high protection which is the chief characteristic of the fiscal policy of tho great Republic. Tho competition for tho homo markets is very severe, and those combinations tend to greatly minimise the effects by bringing as many of the competitors' as possible under tho control of ono central organisation. At tho same time it must ho admitted that many of tho recently formed trusts are merely paper combinations, and in tho long run are not likely to accomplish tho purposes they have in view. "Dun’s Review,” an American financial paper, says:—“The swarm of now combinations really produce less influence than might have been expected. Most peoplo are aware that, in spite of all assertions, none of thorn has an actual monopoly of anything, and all have , to sustain themselves against important competition. Tho multitude of them now being offered to subscribers tends at present to weaken all proposals, and very many corporations have been formed on paper which have not yet been’ completed in cash receipts or payments. It is an open question, and for months or years to como must be, how far these groat aggregations of capital can surpass in economy and wisdom concerns conducted by individual owners. Tho Mount Lyell Mining and Railway Company appears to have experienced a profitable half-year, which closed on tho 31st March last. Tho cabled figures., however, do not show to the same advantage, as tfnj the previous half-year. For the September period tho profits amounted to £196,820, which included £90,319 brought forward from, the previous half-year. Of this ,£15,122 wont in _ management expenses, £10,241 was written off for depreciation, and £IOO,OOO was paid in dividends, leaving £71,457 to bo carried forward. For the past bidf-year the profits appear to have been £111,802, as against £196,820, and the dividends paid £61,416, against £IOO,000. If th‘o figures have been correctly cabled they are somewhat disappointing, considering the very high prices now being realised for copper. Tho total amount distributed in dividends by the Mount Lyell Company for tho year ending 31st March. 1899, is thus £161,416, or very nearly 20 per cent, on the paid-' up capital, and for a young company this is remarkably good. Some of tho older copper companies paid very handsome dividends during the past year. The Rip Tinto Company declared a dividend’ for 1898 at the rate of 47 A per cent.,’ against 40 per cent, for 1897. That of the Thavsis Company was 27} per cent., against 25 per cent, for 1897. The Anaconda Company’s dividend continued at tho rate'bf 10 per cent. The Rio Tinto Company’s dividends aggregated £860,000. Tho total quantity or ore treated and shipped was 1,465,380 tons. Copper produced totalled 20,426 tons, while the average of copper contents was 2.852 pel cent. The average of copper contents

of the Mount Lyell ore, according to the assay tests during the September halfyear were 3.180 per cent. With copper at its present high price level tho shares of the Mount Lyell Company become an exceedingly good investment. Messrs Levin and Co., Limited, report: —Wo offered twenty-five bales wool and 1000 skins to a good attendance of buyers. Prices for- all classes .of wool and skins were maintained at the .higher values now tab'.ishcd. Crntchings,-however, do not appear to bo looked upon with favour, buyers having sufforcdsevcrely from their operations in this article during last season, and wo fear we must look for a low range of values for-this season’s product, unless a now openings .is' found for it. ior skin. - /and pelts art bxcellct market exists, ami v/c emitted one line bffirie crossbreds at 5.’ . ' Wo quote -Skins: Full-wool crossbreds, 4}d to 4Jd; half-wools, 4jd to 4id : fine crossbreds, 4|dtoS£d; pelts, up to 2s 4d each. Murray, Roberts and Company report as follows: Wo offered 20 bales and bags of wool and 3000 sheepskins at today’s sale. Bidding was spirited throughout, and the advance, established at last sale was well maintained. 1A largo quantity of skins are coming forward in damp condition, and consignors will do well to give special attention to this, as not only do buyers bid more freely for dry skins, but the pelts heat and deteriorate in value if packed damp. Wo quote as follows: Wool—Lamb’s wool, 5d to sfd per lb; medium crossbred, 4;ld to 6d per }b; inferior do, 4d to 44<L per lb; medium crntchings, 21 d to 3d .per lb. Skins— Good full-woolled crossbreds, 4}d to 4pi per ■ lb; half to three-quarter woolled do, 4d to 41 d per lb; quarter to half woolled do, 3',d to 3}d per. lb; inferior short-woolled crossbred, 2d to-3d per lb ; good,pelts, Is.to Is,2d each; medium do. 6d to 9d each;, lambskins, up to 4;Sd ncr lb. ~ • The New Zealand Loan and. Mercantile Agency Company, Limited, report as follows:—At our usual fortnightly wool and skin snip, f o-day we crfoied 866 skins and 13 bales and 7 bags wool. There was a good attendance of buyers, andl competition iwaeL'ppirited. The top price secured was 6d( per lb for a lino of merino skins, .but,the quality was not fitsb-clrisk/" Croasbrelds were in much bettor demand than at recent sales, and 4Jd per’ lb 'was secured for two fair-sized lines Of half-woolled skins ■with well-saved pelts. The wool was jail oddments and crntchings. ’and sold Swell up to London values. Wo quote: 1 Crossbred wool (rough), s}d; crutchings, 2.1 dto 2;Jd; lambs’, 4d to 4jd per lb, Skins—Merino, 5d ; crossbred, 4d to 4jd per lb; pelts, 8d to Is 2d each. i Messrs Freeman - B. Jackson and Co. j report that the advance in prices for fat sheep recently reported, and the scarcity of stores, has produced brisk com- ; petition for all that come forward. For stores there is practically unlimited inquiry. Beef has hardened somewha t. All classes of store cattle have improved in value to an unsatisfied demand. The quotations were: Cattle—Forward bullocks, £5 3s; large store bullocks, £4 ;i2s; others, £3- 15s; —2-} to 3- year steers; £3 to £3 1 6s; IS months fo 2 year do, £2; fat cows, light weights. £3 Is; store cows) £2 2s; milch cows. £3 12s 6d to £S;l2s 6d. -Sheep—Fat I owes, 10s to 10s 2d; others, 9s; etc re lewes, 5s 3d to 7s Yd; ; fat’ wethers, )3s 'to 14s Id; store wethers, Ills Id; halfbred, 9s 4d. Pigs—Small baconors. 30s: largo porkers, 18s to ,265; small do. 12s 6d to 16s 6d; slips, 8s to 10s 6d.

Heath; of March, March, Revenue. 1809. 1898. £ £ Spirits 88,554 88,415 Spirits, perfume; 1 Cigars and snuff 448 374 7,172 7,539 Cigarettes 12,813 11,099 Tobacco manufactured 62,157 60,295 Tobacco unrnanufactrd 1,087 1,114 Winc-f-Sparkling ,, Australian 721) 2,854 818 2,762 • ' Other kinds ... 4,142 4,342 3,737 19 033 4 340 19*480 531 433 „ Roasted 14 6 1,031 625 Sugar, etc 45,745 42,070 568 408 1,440 40,050 192,759 1,705 41,956 190,696 Goods by weight Goods iwl valorem ... Other duties 20,739 27,814 Parcels post 3,124 2,596 £508,635 , £509,091

March, March, 1899. 1898. Auckland ..137,469 123,657 Kaipara 99 7 ■. Tauranga 370 321 Poverty Pay ... 3,230 2,991 Mow Plymouth 4,238 4,090 Patea 709 870 Wanganui 9,080 10,835 Wellington .. 116,262 118,832 Napier .. 18,081 15,734 Wairau 1,354 1,074 Picton 51 43 Nelson 8,738 11,431 Westport 3,096 2,267 Grey mouth 5,937 0,724 Hokitika 2,047 2,708 Lyttelton .. 74,983' 70,237 Timaru 0.404 Oairtaru 3,358 3,042 j: 1 Dunedin' .. 104,168 107,038 Invercargill ... .. 15,838 14,100 ■: Parcel post ... 3,124 2,596 £508,635 £509,091