FINANCE AND TRADE.

New Zealand Times, Volume LXX, Issue 3864, 6 October 1899, Page 6

FINANCE AND TRADE.

“New Zealand Times” office, Thursday evening. The Customs returns for to-day amounted to £3197 5s lOu.

The quantity, and value of the gold exported from each port during the past month, compared with the figures for the corresponding month of last year, stand as under :

20,693 114,326 14,306 01,797 The importance of the gold dredging industry of Otago is shown in the above figures, and the increase from this source for the year will bo very marked.

At the auction sa’cs of tallow held at the Baltic sale-rooms on Wednesday, a further advance was registered for fine mutton and both descriptions of beer tallow. Tills is the third week in succession that tallow has advanced, an da the reason for it is not far to seek, for there is a decided shrinkage in supplies, while, the demand continues very firm. The statistical position indicates tho strength of tho market, and is as follows :

The stocks in hand at the close of last month were exceptionally small, and it will bo noted that the deliveries in August and' September were seventyfive per cent, greater than in the two previous months, while the supplies were thifty-thre'e per cent. With the statistical position exhibiting sucii strength, it y is not-to bo wondered that prices should show a hardening tendency. The firmness may be expected to continue, as it will bo some time before the production will overtake the demand.

The gravity of the South African crisis is fitly indicated in ■ the ■ general cables, but tho heavy decline in the price of Imperial consols’ following upon tho advance in the discount rate of tho Bank of England shuts put all hope of a peaceful-settlement. The stringency of the market is displayed in tLo fact that cash ' bargains in Imperial consols are being made. It is the rule with the London Stock Exchange to make settlements twice in the month .and such days are called settlement days. It takes three days to finally close up the business. On. the first, or “ticket clay,’’ the bargains or contract notes are checked; on the second, or “name day;” the names of the various buyers are disclosed; . and on, the third, or “pay day,” the settlements for .payments are made. It often happens that buyers are unable to take -up their purchases, or. sellers are not ready to. deliver / their stocks, and ip such cases a consideration is paid for prolonging the transaction to . the next settlement day., According to the cables, consols are quoted at £lO2 7s 6cl, and pash bargains at £lOl 15s, a difference of 12s 6d, which' in the case, of such a gilt-edged security is a. very serious matter. It is.probable that the next settlement day has been fixed for the middle of tho month, and those selling at ‘ £lO3 7s 6d would bo, entitled to receive that amount then, but apparently tho pressure is too great with some sellers to wait, and a sacrifice. is being made to obtain prompt cash. The position must bo very- serious when this is found imperative.

There appears to bo some ' confusion as to the ownership of the £500,000 of bullion gold seized by the Transvaal Government,,an early message stating it was in transit on French account, while a later message makes it appear that it is British gold._ As a matter of fact, cither message could be. accepted as correct. The French are very largely interested in the Rand mines, so much so that .sonic, lime ago Paris financial houses were in a position to cause a certain quantity of. the monthly output of ’ho Rand to bo sent direct to the French capital. It is probable that tms gold Wa s being exported on French account, or it may have been British gold leaving the country under French auspices. Another theory may be that the officials of the banking .institutions in Johannesburg, conscious of the hopelessness of peace being maintained; have finally resolved to leave the country, and were sending their coined gold awav. Some time ago we were informed that thei mercantile houses in Johannesburg had removed their books and documents, and it is, therefore, not likely that the banks would hold any large amount in gold up to now, or, if they cud, it is probable that they would transfer it to others for safe custody. In any event, the seizure of this treasure is an act of war.

The New Zealand Loan and Mercantile Agency Company, Limited, is in receipt of the following cable advice from its London house, under date 4th inst. : Wheat—The market is firm. New Zealand wheat has advanced Is per 49G’b since last report. Tallow—The market ■is strong. New Zealand fine mutton tallow is worth 29s per cwt. ; good beet tallow, 27s 9d.

COMMERCIAL CABLES. - PKKSS ASSOCIATION. LONDON, Wednesday. WHEAT. The quantity of wheat and flour afloat for file United Kingdom is 1,895,000 quarters, and lor the Continent 1,280,000 quarters. WOOL. There has been a relapse in the, wool market, caused through some of those in the trade pausing. Operations arc, however, now; more active, the market being firm, and buyers are showing a better spirit in regard to merinos. The following clips have been sold:—Moa Flat. 134 d per lb; Tenamn, s|d. TALLOW.

At the tallow sales 1300 casks were, offered, and 1125 sold. ' Mutton;' fine,-3d higher, at 23s ■ per cwt;'>mtadium; "-unchanged. at.2fs 6d; beef,;fme,r‘6d" higher; at 28s 3d; medium, 9d higher, at 26s 6d. i ~!■ v; ;; ■ “STLVIBK. £ ' '-J.s ' , a-Tliej currentt price of bar silver is 2s 2jd per Ounce, ■,, ■ i •' / ' ‘ ' i i: ..; COLONIALj’SECURITIJdS. ! ; >•, v, !k \r * ’. : : Paid- Price. I ■ :. 7 .■ o"; ,** Bank; of .Australasia i 'lO ■ ' C?;, IS'.'O Banlc;=of ;N.S. Ayhles; —...' 20? -41J1010 "Tfni'&n Ban#, ofh Australia v 2s’. 1'33d8 0 'Niiliplial-’Bduk'df; N.Z. ..7 2J ■' 2‘.‘lo‘ 0 uffNfjV i.J!ea!ahd 4 •;,y •; j *-‘ceHt.i ‘guaranteed ‘ ' si i bfslpcfc ii.i. * ... 100 . 101*; 0' 0 •Nfiw-‘',Eph!and.' .Loan and l y‘ i : ' ' ■ Jl'ejqantilo .'Ageiicy Co. . . -"-t t ! 'cen ; f.,- ' prior lien .j 1 ' dtttiotitures t ... 100 - 03„>0 ■; 0: '£ ’j-’;, .-.-■T-..Vi ■ < , ; * I FROZEN" M,EVT.'.' - ‘ ' V i -NAPIER. Thursday: I'lMessta .^NelsPn' Bros;!- haTe ;re'cdived., the .fallffwing-fiabib-’n'essageifrom the Colonial ; <§onsigiinien t. 1 .liud ;;Distributingi..Compauy, London:—The stocks of all kinds of frozen meat are light. The quotations are: Best Canterbury. 3Jd per lb; Dunedin and Southland,' 31d; Napier and North Island, 3d. Lamb, first quality, 4fd; aeoond, 3id.

DUNEDIN SHARE MARKET. DUNEDIN, Thursday. Sales of dredging stocks were recorded to-day as follow: Bannockburn Creek, Gd. Blue Duck, Is Sd. Cardrona Valley, Is 3d, Dunedin, 10s. Galvanic, 3s 9d. Golden Point, 365. Halfway House, 5s Cd. Hartley and Riley, 157 s Gd. Klondyke, 7s 9d. Magnetic, 72s Gd. Nevis, 25s 6d. No. 2 Matau, 3s 6d, 3s. Second Magnetic, 8s 6d. Smith's Creek. 6d discount. Upper Magnetic, 2s. Sales were made on the Stock Exchange at the following premiums: Bannockburn Creek, 6d. Blue Duck. Is 3d. Boundary Creek, Is 9d. Cardrona Valley, Is 3d. , Galvanic, 3s 9d. Halfway House, 5s Gd and <s. Kawarau Bridge, 3d. Klondyke, 7s 9d. No. 2 Matau, 3s Gd, 3s. Remarkables, par. Corinthian, Is Gd. Second Magnetic, 9s Gd. Upper Magnetic, 2s. Smith's Creek ami Bnnnockbui'n, Cd discount. The following sales were also made: Dunedin, 10s. Golden Point, 3Ga. ’ Hartley and Riley, 157 s 6d, 1555. Macrae’s Flat; 10s. ■ ' Magnetic, 72s Gd, 75a Gd, i os. Molyncux Hydraulic, 10s 9d. Nevis, 5s Gd. At auction sales were made at the following premiums: Ahaura. 7d. Orwell Creek. 25.9 d. Gold Queen, 5s fid. Harris's Beach, Is.

Sept. 1899.. Sept. 1898. Oz. X Oz. X Auckland 11,233 40,430 11,823 41,865 G r eymoutb 8,208 32,833 1,350 5,400 Hokitika 732 2,928 — — Dunedin 8,068 32,327 — — I n vercargill 1,452 5,808 1,133 4,532

Imports. Deliveries. Stcek. Casks. Casks. Casks. Juno .. 4,596 4,605 17,507 July ... 7,854 * 4,796 21,575 August ... ... 4,217 7,520 18,272 September ... 5,415 8,617 15,070