FINANCE AND TRADE

New Zealand Times, Volume XXXI, Issue 6812, 7 May 1909, Page 4

FINANCE AND TRADE

Tho New Zealand Loan, and Mercantile Agency Company, Ltd., have received the following cablegram from their London house, under yesterday's date; —Tallow; Wo quote present spot values for tho following descriptions—Good mutton 31a 3d, good beef 29s 9d, mixer! 28s 9d; market quiet. Wheat; Market has advanced Is per quarter. GOLD RETURNS. The following telegram was received yesterday from Consolidated Gold Fields, Ltd., by the Wellington Stock Exchange: "Progress crushed 3775 tons, yielding .£3858. and cyanided 2180 tons, yielding £734 : Wealth of Nations crushed 1350 tons, yielding .£1832, and cyanided 780 tons, yielding .£000; Blaekwater crushed 2232 tons, yielding £SOOO, and cyanided 1455 tons, yielding £447." UNDAUNTED GOLD MINING -CO. A general meeting of shareholders of tho Undaunted Gold Mining Company took place in Wellington yesterday. The balance-sheet as at March 31st showed a credit balance of £204 11s 9d. The chairman, Mr John Ewing, and tho managing director, Mr T. C. Donnelly, attended. It was explained that the improvements in results of gold won which have taken place in the last twelve months have' not been so great as was expected, and it has been decided to shift the elevators to a portion of the claim where hotter deposits are known to exist, these having been proved almost up to tho Undaunted boundary on tho adjoining holding, the Matakanui Company. Tho following directors were appointed;—Messrs John Ewing, Peter Flannery. William Watson, J. M. Butt, and J. V. Maxwell. LONDON WOOL SALES. MERINOS AND CROSSBREDS BOTH STRONG, By Telegraph—Press Association—Copyright LONDON, May 5. The wool sales are animated. Merinos are fully 5 per cent, above the March prices. Crossbreds are Strong at yesterday's advance. Tho Department of Industries and Commerce has received the following cable from the High Commissioner, dated London, May sth: —“The wool sales commenced with a strong market. There was a large attendance of buyers, Americans competing keenly for crossbreds. Merinos and coarse crossbreds of all grades are a halfpenny, and fine crossbreds of all grades and medium crossbreds of all grades one penny per lb higher than last sole. The prospects are favourable. At the last sales, on March 27th, tho prices realised were as follows : Merinos. ' Superior. Medium. Inferior. Is to Is 2d lOd to Is 7d to 9{d Crossbreds. Pine. Medium. Coarse. Is to la 3d 9Jd to HJd GJdtoOJd THE WHEAT MARKET. PRICES PERM IN LONDON. By Telegraph— Press Association— Copyright LONDON. May 5. Tho wheat market is firm. Two Australian cargoes have been sold at 42s 9d and 43s per quarter. The American visible supply east of the Rockies is 49,140,000 bushels. GENERAL COMMERCIAL CABLES. By Telegraph—Press Association—Copyright LONDON, May 5. At the tallow auctions 1623 casks were ofiered and 976 sold, at 6d per cwt decline. _ __ Copper on the spot, £o7 los per ton;

three months, <£5S 8s 9d; electrolytic, .£SB Lead, .813 2a Gd. FEOZEN MEAT MARKET. NAPIER, May 6. The Colonial Consignment and Distributing Company’s London office cables: —“Stocks of frozen meat are very heavy and the demand poor. There has neon a further fall in values of North Island mutton of second quality and lamb. Quotations Canterbury mutton, Napier, Wellington, and North Island, 21d. Lamb, 'first, 4|d; second, 4 4 d. Beef—Hinds, 3-ld; fores, 2id.’ J DUNEDIN STOCK EXCHANGE. ■ PEESS ASSOCIATION. DUNEDIN, May 5. Stock Exchange sales Hartley and Riley, dll 11s; Waihi Extended, 5s fid (four parcels); Standard Insurance, .£1 2s; Waihi Grand Junction, £2 2s 3d (two parcels); Golden Bed. 7s. The Customs revenue and beer duty collected at Wellington yesterday totalled ,£3023.