FINANCE AND TRADE.

New Zealand Times, Volume LXXII, Issue 4606, 10 March 1902, Page 6

FINANCE AND TRADE.

The Customs returns for the past week amounted to £14,661 8s 9d, the beer'duty for the same period totalling £343 15s 6d. The returns for Saturday amounted to £2136 13s 9d. The Mutual Life Chronicle states that during the past year the new business of the association amounted to £714,513, being an increase of £90,000 over that secured in the year 1900, and by far the largest amount ever transacted in one year by the association. The new premiums thereon, amounting to £25,452, show an increase of £2685 upon previous year. The amount received by the association as consideration for the grant of annuities amounted to £17,818, being £9213 more than in tne previous year. The major portion of this business was transacted at the London branch, and is gratifying evidence of the sound position the association has attained in the estimation of those having comparatively speaking large sums of money to invest for which they are seeking undoubted security, as well as a remunerative return. The renewal premiums received during 1901 amounted to £159,117, being £8663 more than in 1900. The interest increased by £3697 to £65,946 Adding these up, the total" income of the association for the past year, was £268,333, or an increase of £24.258 upon 1900. After providing for claims, by death and maturity, and all other disbursements, the funds were increased by £90,000 to over £1,530,000; and as touching upon the quality of the investments, the liquid securities were increased by nearly £60,000, and now amount to over a quarter of a million sterling. STOCK SALES. Abraham and Williams, Ltd., report as follows:—At Palmerston on Thursday we had a full yarding of cattle, mostly grown steers and forward bullocks, for which, there was very little inquiry. Quiet heifers and young cattle met a crood demand and we quitted all these at recent quotations. . Fat cows and cows with calves at foot also sold well. An average entry of sheep met a better demand, and we disposed of all lines, with the exception of two small lines of lambs and a pen of low-conditioned ewes .— yfe quote:—Cows with calves at foot, £4 8s to £5 10s; forward cows, £3 8s to £4; store cows, £2 8s to £3 ss; fat cows, £4 10s, £4 18s and £5 6s; 18-month to 2-year, heifers in calf, £3 2s; 2-year heifers in calf, £3 14s; 12 to 18-month heifers, £2 5s 6d; weaners, 15s 17s 6d, 20s, 25s and 27s 6d springing cows, £5 Is to £6; 15-month steers, £2 18s; 2-year steers, £3 10s; yearling steers, 375. 4 and C-tooth ewes, 9s to10s 2d: forward ewes, 8s Id to ,8s od; forward wethers, 9s lOd to 10s 2d; 2tooth wethers, 7s 9d; 2-tooth ewes, 8s; breeding ewes, mixed ages, 7s 6d; cull wethers. 6s sd; good lambs, 7s 2d; others, 3s lid, 4s 7d, 1 4s lOd and ss; 2-tooth Lincolm rams, £1 Is to 225; pure-bred Berkshire pigs (weaners), 10s, 11s, 12s 6d and 13s 6d; young sows, 255. At the clearing sale of stock at the Kelmarsh estate, Paraparaumu, on Wednesday we had a good attendance and the stock realised good prices. We quote:—3J-year steers, £6; Shorthorn bulls. £5 ss; fat and forward ewes, 8s 4d; forward store ewes, 6s 9d; store ewes, 6s: 2-tooth wethers, 8s lOd: cull ewes. 2s 9d : lambs, 3s 3d ; 2-tooth Romney rams, 14 to 2 guineas: aged Rony ney rams, £1 Is; 5-year-old hack, £l6 ss: 4-year-old hack, £ll. •The New Zealand Loan and Mercantile Agency Company, Ltd., reports as follows:—At our Palmerston North sale on Thursday, stock came forward rather in excess of advertised numbers. Although there was an average attendance. bidding was dull for sheen and grown steers, but all lines of weaners and young cattle sold well under the hammer. Now that we have had rain we hope to see a much firmer tone prevailing. .We quote:—2-tooth ewes and

wethers, 8s 3d to 8s od; cull lambs, la; weaners, 18s, 20s 6d, 21s, 255, 32=; yearlings, 375, 40s; empty heifers, £3 17s 6d; store cows, £3 ss; fat cows, £4 7s, £4 15s; forward cows, £4 Is; 18-month steers, £3 12s. Pigs, weaners, 7s. WELLINGTON STOCK EXCHANGE. The following are Saturday’s quotations, subject to the usual brokerage:— Banks—National, buyers £3 14s 6d: New Zealand, buyers £2 Bs, sellers £2 11s 6d, sales £2 10s. Financial—National Mortgage, buyers £1 12s 6d; Equitable B. and 1., sellers £9 15s, sales £9 10s; New Zealand and Hirer Plato (old issue), sellers £1 2s 6d, sales £1 2s 6d: ditto (new issue), sellers £1 3s Oct; Wellington Building, sellers £9 2s 6d; Wellington Trust and Loan, buyers £7. Gas—Christchurch (£5), sellers £10; Palmerston North, buyers £4 0s 6d; Wellington (£10), buyers £18; ditto (£5) buyers £9. Insurance—National of New Zealand, sellers £1: New Zealand, buyers £3 Bs, sellers £3 10s; Standard of New Zealand ex., sellers 17s. Meat Preserving—Christchurch Meat Co., sellers £8; Gear Co. £1 paid), buyers £1 6s ; Wellington Export (£5 paid), buyers £6 15s. sales £0 16s; ditto (£2 12s 6d paid), buyers £3 ss. Railways and Shipping—New Zealand Shipping Co., sellers £6 12s; Union Steam Ship Co., buyers £ll, sellers £ll 10s. Woollen Manufacturing—Kaiapoi. sellers £6 ss; Mosgiel, sellers £3 16s; Wellington (£4 paid), sellers £5 15... 6d. Coal—Westport, buyers £1 Is 6d. Miscellaneous— Donaghy Rope and Twine, sellers £ll ss: Leyland and O’Brien Timber Co., sellers £1 13s. sales £1 12s; Mitchelson Timber, sellers 19s; Sharland and Co., Ltd. (ordinary), buyers £1 Is 9d; Ward and Co., sales £5 10s; Manning and Co., sellers £5 lOsi COMMERCIAL CABLES. PRESS ASSOCIATION. LONDON, March 7. BANK OF ENGLAND RETURN. The Bank of England return issued for tho week ending Wednesday, sth March, is as under:—

•laiewst payable in Mty *nl November* flatarast pAfftole ia Jammy »ni July jla&draat pafaoie in April a-id Oobobac. MONEY MARKET. The market rate of discount for best three months’ bills is J lower at 2| per cent. The Bank of England rate is 3 per cent., as against per cent, on the 6th February and 4 per cent on the 22nd January. COLONIAL AND OTHER PRODUCE. Wheat—The English markets are lifeless, the Continental firm, American weak 'owing to the huge stocks in the United States. Canadian cargoes are dull and nominally unchanged. According to “Bradstroet’s” estimate, the American visible supply of wheat east of the Rockies is 84,315,000 bushels. Sugar is quiet. German beet, 88deg, 3d lower at 6s bd per cwt; first-mark, granulated, f.o.b.'Hamburg, 4Jd lower, at 8s l|d per cwt, Butter is steady and unchanged. Australian- supplies are practically finished. New Zealand butter is firm. THE PRICES OF METALS. Copper is tending downwards. Spot, 45s lower at £54 per ton ; three months’, 35s lower, at £54 per ton. Lead. 5s lower, at £ll 10s per ton. , Pig Iron—Glasgow warrants, No. 1 cash, unchanged, at 53s 6d per ton f.o.b. in Clyde. Tin—Spot. £lO5 5s per ton; three months’, £ll2. Spelter, £l7 18s 9d per ton. Silver—Bar silver is quoted at 2s IJd per oz. PEES 3 ASSOCIATION. GREYMOUTH. March 9. Following are the coa.l exports for the week:—Blackball Company, 2221 tons 15cwt coal; Brunner Company, 1463 tons lOewt coal, 27 tons 6cwt coke, 15 tons 9cwt bricks.

Issue Djsfartxent, No.eksue . 9ov debt. . Bll.ri5.000 Other seourities . 8.7*0,*00 Gold.. 85,073,000 4ca.Mfo.ooo £62,810.060 Baskins Dkfahtmxnt. Proprietors' Go?. secarl* capital .. XU.65n.00} i'61 . £10,274,005 Public do- Other >e posits .. 18492 000 ouritiea . 88 656.0)0 Otber do* Notes . , 24.f09.ono posits . 89.123,000 Cola.. • , 2,207,000 Kerl, 7-dej and other bills .. Bf55.000 £76.126.000 £76,126,0 0 The loading items of tho Bank of England, return afford the following comparison This week Lsstweek. Lastyeer £ £ £ Bullion .. .. 37. (76.000 85,522,000 01,652,050 Reserve .. .. 26 29H.0W 27.14o.000 25.427, ! '00 NoicoirouUtlon .. 2,',814,000 28.487,000 28,064.0u0 Deposits .. .. 67,618,000 C0,U8d,uUO 61,919,000 Proportion reserve to liabilities .. 45'43 4305 ... 48-74 GOVERNMENT SECURITIES. Tho following are tho latest quotations for Government securities, and a comparison with those ruling last week :— • Price. Variation. £ s. d 2| % Imperial Consols 94 6 0 7/0 lower 4 % New South Wales 116 0 I 10/- higher 8i b ]a New South Wales 1(3 10 0 Unoimnged 8 %New South Wales 06 10 0 Du/- lower 111 10 0 . Unchanged 104 0 0 ' Unchanged 96 6 0 Unchanged Bi %8outh Australian .. hi li t Unchanged 04 0 0 Unchanged 4 % Queensland .. .. 118 0 0 Unchanged 8J% Queensland .. .. 164 0 0 Unchanged 8 % Queensland .. , .. 91 15 0 Unchanged 4 “ie New Zealand* .. 12 0 0 Unchanged 84% New Zealand! 06 U 0 Uacaanged 8 % New Zealand! ,,| 94 0 0 SO/- loner 84% West Australian ..1 i2 n o Unchanged hi % Tasmanian .. ..'1U4 6 0 Unchanged