COMMERCE & MINING

New Zealand Times, Volume XXXIII, Issue 7446, 22 May 1911, Page 8

COMMERCE & MINING

THE SHABEMAEKET WELLINGTON STOCK EXCHANGE. SATURDAY’S QUOTATIONS. MINING. Blackwatcr Mines—lo a.m.» e £1 Ss; noon, s £1 as 0 , Dominion (Karangahake)—lo a-m., s 2d. Ka.pa.nga—lo a.m., b 7d; noon, b 7a. Kuranui Caledonian —10 ami., b Is, 8 js 3d; noon, b Is, s Is 3d. ~ , . May Queen—lo a.m„ bls 7d; noon, bls 6d. Now Big River—lo a.m., b£3 14s; noon, b £3 15s. „ ~, New Sylvia—lo a.m., b 23 lOd, s 2s lid, sales 2s 10*»d (’Change); noon, b 2s lOd, b 2a tld. * ~ Occidental Consolidated—lo a.m., b 4d, s sd; noon, b 4d, s 6d. Old Hauralti G. Mines—lo a.m.-, bls 9d. s 2s; noon, b 2s, s 3s. Saxon—lo a.m.. b2s 2d, s2s 3d; noon, b 2s 2d. s 2s 3d. Tairua Broken Bills—lo aan.. b Is sd. s Is 6d, sales Is 6d (reported); noon, b Is od, a 3a hi. Talisman Consolidated—lo a.m., b£2 31c 6d, a £2 12s; noon, b £2 11s 9d. s £2 12a 3d. Waihi—lo a.m., b£3 6s. s£3 6s 6d; noon, b £3 5s 3d, e £3 6s 9d, sales £3 6s 3d (reported). Waihi Grand Junction—lo a.m., b£l 8s 3d, b £1 8s 9d, sales £1 8s 6d (reported), £1 8s 6d (’Change); noon, b £1 Bs, s £1 8s fid. Waitangi Consolidated N.L.—lO a.m., b 2g Id. s 2s 3d. Watchman—lo a.m., bla 7d, ols lid. Roes—noon, s 2s. Note.—The letter “b" signifies buyers and V’ sellers. INVESTMENT STOCK.

ON OTHER EXCHANGES. PEES 3 ASSOCIATION. AUCKLAND, May 20. Business at this morning’s call of the Stock Exchange included: Talisman, 51s 9d, 525. Waihi, 675, 66s 9d. Waihi Grand Junction, 28s 3d. Saxon, 2s 2d. Occidental, 6d. Eoas Goldfields, Is Bd. Old) HAURAKX. The manager of the Old Haaraka mine telegraphed to the Wellington Stock Ex. change on Saturday: ‘Fifty pounds picked, stone, No. 2 block, 303 ft level, 401 b picked stone, 400 ft level, gold showing." GOLD DEEDGING RETTJENS. PEESS ASSOCIATION.

DUNEDIN', May 19, Gold dredging returns: Hartley and. Hiley, 460 z; Electric No. 1., 230 z 14dwt; Masterton, 230 z 3dwt; Waikaia, 220 z lOdwt; .Koputai, SGoz Idvrt; Central Charlton, 16oz 13dwt; Mystery Flat, 12oz 12dwt. May 20. Waikaka United No. 1., 21oz lOdwt; Walkaka United No. IT., 19oz 17ciwt; Karannui, 14oz lOdwt; Trafalgar, 14oz; Blackwater, 41 oz lOdwt; Worksop, 720 z 16dwt; Golden Sun, 9jz 12dwt. PAPAROA COAL MINING COMPANY At an extraordinary general meeting of the Paparoa Coal Mining Co., Ltd., it waSi unanimously decided, on the motion of Mr J. R. Blair, acting chairman of directors, and seconded by Mr 11. F. Nees:— * *"That the capital of tho company be increased to £250,000 by the creation of 75.C00 hew shares of £1 each, and that the pro -visions following shall have effect in regard thereto, and also to the shares now unissued out of the 44,207 shares in tho capital of the company, which, bv resolution of }tho directors, dated March Bth, 1911, were .authorised te be issued as preference shares. That is to say, all or any of such shares may bo leaned by tho directors either as ordinary shares ranking in all respects pari passu with tho ordinary chares in tho capital of tho company already issued, or a a preference shares ranking as to bonus, dividend, and return of capital and in aU other respects pari passu with £uch of the said 44,207 shores as have already been issued as preference shares, or they may be so issued as preference shares, ranking oa aforesaid, but without the benefit of the bonus of 5s per share to which the holders of the preference shares already issued arc entitled, and subject to tho prior payment of such bonus to tho holders of shares which have been or may be issued as preference shares with the riah.tr to such bonus.” MARKET CABLES (Received May 21, 5.5 p.m.) , LONDON, May 20. NEW ZEALAND HEMP. The hemp market la dull, but May-Jtme shipments are quoted at £2O 6s, an advance of 5a on last week. COTTON; The Liverpool quotation for American middling Upland cotton is 4J points higher at 8.12 id per lb. - . RUBBER. Pino bard Para rubber is unchanged at 4s Bjd per lb FROZEN RABBITS. • Tho rabbit market continues dull. Large Sydneys, ex store, are quoted at 13s to per crate; youug, 9s; large Melbournes, 12s sd. COPRA. Copra is in fair demand, and South Sea, in bulk, sells at i)22 ICs per ton. PRICES OP METALS. ' Silver.—ln bars, 24jd per ounce StandAntimony.—Good 50 per cent, ore, £8 per ton. BRAN AND POLLARD CHEAPER. By Telegraph—Press Association—Copyright (Received May 20, 0.55 a.ro) SYDNEY, May 19. Tho price of bran and pollard was reduced to-day by 20s—to £5 . per ton. THE ‘WOOL SALES. FIRM PRICES SCARE SPECULATORS. (Received May 21. 5.5 p.m.) LONDON, May 29. At tho wool sales prices wore firm and unchanged.

There woro considerable withdrawals oy speculators In wools The "Kiwi" clip realised up to Hid z*£S lb, and averaged lOd. (Received May 22. 1.10 a.m.) LONDON, May 21, At the wool sales yesterday there was a good demand and prices were unchanged. Tho “Tui” made up to lOd and averaged %d‘. “Tucna," 15*d and 12gd. There were 125,3c5 bales oliored and 113,823 sold, FROZEN MEAT mutton' and lamb stronger in TONE. The New Zealand Loan and Mercantile Agency Go., Ltd., on Saturday received the following cablegram from London: “Frozen Meat. —There is a slight improvement in the markets for frozen mutton and lamb. The market is easier for frozen beef." MAIL ADVICES. Messrs Gilbert Anderson and Co., colonial agonta, London, report, under date April 7th: a very large volume of trade in all descriptions ol meat. Home grown large suppdes, prices hrm for all good quality. Cwes ia to id lower. GhiUcd fceei, spot supplies short, prices id'higher; lores in.ii. hinds 4*o, Frozen beef supplies more plentiful; South American fores and hinds 1-lGcl lower, Australian fores id lower, hinas unchanged. New Zealand fores l-16d lower, hinds $d lower. Frozen mutton, very large supplies, with keen competition by sellers to got the trade. South American l-16d to id lower, Australian par to 1-16 U lower, New Zealand id to 3-16 d lower in competition with South Americans. Cnnterburys under 64 4d. 64 to 72 3id. Frozen lamb, heavy supplies, especially secondary qualities; prices for these have been lower. South Americans id, Australian inferior id lower, best unchanged. New Zealand brands unchanged good qualities, W.F.M. and 0.F.M.0.’s fetching higher prices. Swithheld Market Prices, April 7th. Mutton — Canterbury, W, and M.E., 48-561 b, not quoted. Southland, 48-561 b, not quoted. Rest North Island, 48-5611), 3id: 56-64!b, 3id. North Island, 48-56, 3d; 55-64, 3d. Australian, 40-501 b, 2gd; 60-70ib, 211-16 d; owes, 2 lM6d. South American, 40-601 b, 3d; 50-70 lb, 2 13-15 d; ewes, 2gd New Zealand ewes, 2§d. Lamb— Canterbury, under 361 b, 43d; 36-421 b, 4Jd; 42-50 lb, sd. Southland, under 361 b, 4 9-16 d; 36-421 b, 4 9-16 d; 42-50Ib, 4 11-16 d. Best North Island, under 36, 47-16 d; 36-. 421 b, 4 7-15 d; 42-50’b, 4 9-16 d. North Island, under 56ib, 4£d; 36-421 b. 4id; 42-50Ib, 4id. Australian, best, 3?d; f.a.q., 3|d; inferior. 3Jd. South American, 28-421 b, 33d; secondary quality, 3id. Beef— Now Zealand foxes, 215-16 d; hinds, 4d Australian fores, 23d; hinds, 33d. River Plate fores, 2Jd; hinds, 4d. February Shipments. Frozen ChiUcd Mutton. Lamb. Beef. Beef. Carcases. Carcases. Qra. Qrs. 586,350 559,500 153,800 147,100 March Shipments to Date. New Zealand 266,009 662,000 27,200 Australia ...... 87,500 34,000 23,500 River Plate ... 530.250 138,500 170.C00 205,500 Totals 683,750 834,500 ’ 820.700 203,500

PRODUCE MARKETS

WHEAT. . _ The milling wheat market in. the south ha-g been fairly active recently, and the tone is slightly easier. At this time of the year it is not known how crops will turn out; at the same time there are numerous indications which will assist the expert to form a fairly good idea of how the crops will progress throughout the world. Last week's cabless from Home reported a shghtly easier market consequent upon better weather reports from America; whereas cables just to hand reporting on the markets state that consequent upon good rains in Kussia the markets are quiet with a slightly easier tendency. Anstralian wheat is now quoted according to these cables at 37s 6d on the spot, against last week 37s to 37s 6d. Writing under date April 7th “Beerbolim" reports as follows; “In Russia, owing to the long spell of cold weather, spring sowings, which were well advanced at this time last year, have ‘hardly commenced, and there are now more numerous complaints as to the probable effect of the recent revere frosts in, winter wheat in the Azof districts; but so far nothing really definite is known. In Germany, also, the weather has been very severe, and although snow fell somewhat freely, it was not until after the frosts had been, experienced for one or two days. Here, also, nothing definite Is yet known. In Franco the crop prospects are still reported to be very favourable,, although farmers would welcome a change’to milder condition®. In America the weather has been favourable for, winter wheat, and the rains which have fallen over almost the whole of the country will bo a great benefit in the spring wheat States, especially as quite recently there had been further complaints made as to tins dry state of ’the soil in the. north-west of America, and also in Canada. Crop-Expert Snow put« the condition of winter wheat at 85.4 aGialnst 81.3 on April Ist last year* the official figures were 80.8. Allowing for the abandoned area of 2.000.00 D acres; there would remain for harvesting 32.500,000 acres against 29,044,030 acres harvested last year. Climatic conditions were very favourable last year from April Ist np to harvesting time, and the condition improved from 80.8 to 81.5; but as a rulo conditions depreciate 3 to 4 points. Tho present indications are for a yield of winter wheat of about 520,000.000 bushels, as against 464.000.000 bushels last year. Shipments last week Were again on the liberal side, and well above the' weekly requirements, and promise to bo even larger this week. Imports into Uhe United Kingdom were just about equal to the estimated consumption. Stocks on March 31st in the principal ports work out about as expected, and show a largo decrease compared with those on Januarv Ist of 1,350,000 quarters, Tho total wheat (flour os wheat) stocks are 1,650,000 quarters, against nearly 3,000.000 quarters on January Ist, and 1,695,000 quarters last year. During last week three more Australian steamers have been ordered to Continental destinations. A strong inquiry is resulting for fowl wheat of good whole quality, and business during the week has been satisfactory. Any prime clean samples have been bought up eagerly; there are not many lines offering. It must be remembered that, this season the wheat has been almost all milling quality, hence the strong market for any fowl wheat. The demand for the la-ttcr has also been strengthened in consequence of the high price of pollard and bran. OATS. The market is decidedly firmer, and there has been a good brisk inquiry from all over tho North Island. Southern merchants are reported to beholding off offering Tory ■ largo quantities, no' doubt having ©very reliance in the market talcing a sub--91 an trial nse. Both Duns and Algerians continue in short supply. The crop this season is light, it being well known that Canterbury has no oats this year, and that district, along with Oamaru, has therefore been already drawing its supplies from Southland. A Gartens are now WOT ?n, 2 “ 6 W t<o 2s B H less; flparrowbills 2s 6d to 2a 6Jd. B grade 2s 5Jd to 2s 6d f.o.b. south Nearly all the oats this year are A grade quality, B grade being very hard to secure. This is due to tho fact that the oats harvested have been got in in good condition, tho rains coming just at a time to fill 1 the grain and ensure the cargo being all of standard quality.

CAPE BARLEY, A pood demand Is being met with for this com for feed requirements, especially is tins the rase for any cheap lines suitable for grinding purposes. This reranrk anpliw to all linos of (Train, owing to the generally high prices for offals. MAIZE. An excellent Inquiry is being faced for thus line from Gisborne. The high prices ruling for fowls* wheat has been responsible for creating a heavier demand for nivruzo for winter feed, and whilst fowls' wheat continues firm, a corresponding influencing effect upon maiae will be manifested. The Quality of this line this reason k fpod. and the market is decidedly firm. The quantity of old maiio now available Is very limited. New- corn will not he fit to handle in any quantities for at least six . or eight weeks yet. OFFALS. Tho market for all lines .of offals still keeps very firm. Both bran and pollara continue in very short supply, but as tho Sydney and Melbourne markets have been

in the same position, no relief has been secured from that Quarter. Some few weeks back shipments were coming over from the Commonwealth, but tho strong advance which took place absolutely prohibited importations to.tho Dominion. According to cable nows just received, however, both. bran and pollard have now declined to £5 per ton f.0.b., Sydney. This figure does not permit of business in thd former lino, but is practically on a parity with the landed cost of local pollard. If New Zealand supplies cannot be obtained in sufficient Quantities to meet the consumptive demand, operations will follow with tho Commonwealth- In cno week these lines, according to a report, were advanced in Sydney 15s per ton and 35s over a period of one month. FLOUR. Now Zealand flour has kept at the advanced figure which set in week. The demand continues satisfactory/ nut business in Australian flour is still prohibited, despite the fact that there is a weaker tone prevailing consequent upon the weakness in tho world's wheat markets. New Zealaudflour is quoted locally at £9 5s to £9 10s per ton. BUTTER. The local market is verv firm, at the same time there is a fairly large quantity in cool storage. Recent cables to hand indicate that the London market for Now Zealand choicest salted is quoted at 104 s, against a range of 104 s to 106 s last week, and nnsalted remains unchanged at 103 s. This state of the market, no doubt, is attributable to Continental supplies increasing In volume. Arrivals of butter during March into the United Kingdom were approximately 20,000 cwt higher than in the corresponding month in the previous year. Very little Export .is now being carried on from hero with tho United Kingdom, but a fair quantity is being gent to South Africa. CHEESE. Tho local market for checso is very firm at the present time. The drought early in tho season has been responsibly for a strong market ruling. Tho Tainni, which left Wellington on Friday, took away 10,373 orates. Although cable advices point to a lower market at Homo at 60s t<r 61s, with a depressed market ruling values are about on a parity with those ruling early in March. London flies of March 18th report as follow: Canadian and New Zealand have again slightly hardened in value—about Is—and there is more inquiry, despite - the colder weather. English* cheese has a firmer tendency, and there is a fair trade passing— Finest Cheshire 80s to 84s, fine 74s to 78s; finest Cheddar 74a to 78s, fine 70s to 725; Cheddar loaf 74s to 765. There Is a good demand for Canadian at suffer rates, and the top point has not yet been touched. Finest white.sells at 61s to 635, coloured 62s to 645, deep red 555. Fine’ is offered at Is lees, but very little underpriced remains to be sold. Late last week June make was sold at 60s c.i.f. for white. September townships are also mentioned at 62a c.i.f.; few offers are coming. The Cairnrona has arrived r rom Canada with 229 boxes.. and the Mont fort with 105 boxes. There are small arrivals from the United States, half skim selling at 523 for beat, with secondary at 44s to 48s. New Zealand cheese is again dearer, and the demand is fair, with holders very firm, tho outlook being for rather higher prices. White and coloured have sold at 59s to 60a, but the value is now higher at 60s to 61s, both being practically on the same level. The latest arrivals show improved quality. Tho lonic has arrived from New Zealand with 11,742 ern+es. Tho Sussex from New Zealand for West Coast ports, with 6450 crates of cheese, is duo April 15th. Dutch remains firm in value, but business continues on a limited scale.

In tho event of any rise taking place locally the consumption of cheese is bound to bo checked; it is thero r oro a moot question whether this will take place.

OATMEAL. An excellent demand continues for this Line, and the market is still firm with £l4 10a ruling locally.

CHAFF. The chaff market is still showing a* decidedly firm tone, in consequence of the high prices ruling at Blenheim and through the South Island. The comparatively short supplies in the North Island are almost entirely required for immediate local cbnsumption in their own districts. Inquiries are going forward to Melbourne for Victorian chaff, a shipment of which arrived this week ex Mokoia, and was in excellent condition. There is every prospect of. the chaff market maintaining its present strong state, if not again hardening, as present Victorian prices do not allow of business owing to the high condition of the market in that quarter. Should, however, a heavy decline take place in Victoria, operations will be freely extended to that source of supply. Apart from the 1 Marlborough province, almost every other district in New Zealand of a • chaff-supply-ing nature has had crops smaller than usual. In consequence of this, heavy business has been done with Marlborough, and as a result tho supply offering now is somewhat limited in that province. WOOL, SKINS, HIDES AND TALLOW The fortnightly sales of wool, skins, hides and tallow were held on Friday in Wellington by the New Zealand Loan and Mercantile Agency Co., Ltd., Dalgety and Co.. Ltd., Murray, Roberts and 00., Ltd., Levin -and Go., Ltd... and Abraham and Williams, Ltd. Tuero was an average attendance. and competition was in the main keen and values well maintained. Following is tho range of prices realised: Wool. —Market firm. Crossbred fleece rough, 63d to BJd per lb; inferior,-6id to Vd; pieces and bellies, 4Jd to 63d; looks, 2fcd to ad. ■ Skins.—Market firm at an advance of a farthing all round. - Halfhrede, 7d to 7jd per ib; fine crossbreds, 7d to 7id; medium crossbreds. 6d to 7Jd; coarse crossbreds. 6d to 63d; dead skins, 5d to 53d; dead hoggets, 4d to 5(1; quarter to half wools, 4d to 6Sd; dry pelts. 9d to Is 4d; green skins, 2s 6d to 5s Id; lamb skins. 2s to4s3d; lambs pelts, la to 2s 6d. Hides.—Firmer. Ox (heavy), 63d to 73d per lb; ox (medium), 6Jd to 7d; ox (light). 6d to 63d; cow hides, 6d to 63d; out and slippy, 23d to ,SW; stag, 4d to 55d: b 11, 3d to 5Jd; yeariings, sjd to 6d; calf best. 8d to 83d; calf meuium, 7d to 8d; calf out and sllppv, 2d to 53d, Tallow.—ln casks. 26s to 28s 6d per cwtin tins. 20s to 26s Bd. . Eabbitskins.—lnferior, 53d to 63d per lb LIVESTOCK AMOTION REPORTS. N.Z. LOAN AND MERCANTILE AGENCY CO., LTD. Feilding.—Yesterday we had a heavy entry of sheep and a representative yarding of. cattle. The quality of the sheep was not too good, and we passed in a large proportion of our entry. We quote: Empty ewes 4a Bd. ewes in lamb to Romney rams 9a 9d. forward empty ewes 6a 10(1 to 9s 9d. mixed lambs 4s 2d to 4s 7d. cull ewes 4a 7d, store cows £2 to £2 17s 6d, oows in calf £2 ss. heifers In calf £2 2s 6d. forward empty cows £3 16s, forward empty heifers £3 18s 6d, fat cows £6 103, springing heifers £5 17s to £7 11a. I DALGETY AND CO., LTD. Eketahnna. —Owing to the very rough weather experienced the last few days wo only had a limited entry yesterday. Sheep showing any quality sold at prices in excess of late values, but poorer sorts were neglected. We quote: Lambs 3s, 9d to 7s 7d, f.m. ewes in lamb 6s 7d to 7s 6d, two-tooth empty ewes (poor sorts) 7s 2d. No cattle were yarded, Feilding.—We had a good yarding of sheep yesterday, and a fair number of cattle. Small wethers made 10s, two-tooth ewes Us 5d to 11s 9d, fat and forward ewes Us, empty owes 4s 5d to ss, e.we lambs 6s 9d to 7s 6d. wether lambs 5a 6d to 6s Id, fat bullocks £8 to £8 7s 6d. SOUTHERN GRAIN AND PRODUCE. PRESS ASSOCIATION. CHRISTCHURCH. May 20. The news that the Loudon mar hot has declined 3d per quarter tins week has affected tho market locally so far as shipping business is concerned, and there is an easier tone now displayed. A fair quantity of wheat has changed hands between merchants, but, little business has been done with growers, thouih a few of the latter have accepted 3s 3d at country •tations, and in one or two cases even more baa been paid. Buyer* are not wiling to pay the same price* tow. m oonoeqoance of the decline in the London market. OwUhoaf onaff is Armor, and the break In the weather in the North Island will probably improve the demand from there. For eaport purposes 85s is being oEored, and for local consnmptlon probably a little more would be paid. Tbs potato market i» quiet in consequence of the limited demand at present from the North Island, which was lately

so heavily supplied with southern shipments. Growers are now pitting their unsold crops, lew being willing to accept 60s to 655, which is all that shippers arc still offering. PRESS ASSOCIATION. OAMARU, May 20. Tho wheat market was a little agitated early in the week, but has since calmed down Offerings have, however, been few, farmers holding firmly in anticipation of a rite. The market, which showed an advance earlier in the week, of 2d a bushel, lias come back Id. Mixed lines were sold at 3s 6d, less commission, ex store, and -3b 4d at country stations for straight lines; 3s 5d net was given for velvet, but later sales were made at 3a 4d net. and 5s 4d subject to commission, all country stations. Red chaff brought 5s 6d ex store, and Bordicrr 3s ex store. No oats have been offering, and there are evidently few in the district. No business is passing in potatoes. WELLINGTON CUSTOMS.

The Customs revenue and beer duty collected at Wellington last week totalled respectively £14,954 5s 5d and £214 14s. Saturday’s Customs return amounted to £llOB 4s 3d.. 0 CO-OPERATIVE BUILDING SOCIETY. The fifteenth annual report of the No. 3 Co-operative Building Society, of ■Wellington. 'states:—The society has been steadily fulfilling the purpose for which it was formed, and the time is near when it will bo necessary to make some arrangements "to cut down the expenses of management, and make the way clear for the society, as it becomes smaller and smaller, to gradually and successfully work out its destiny to a satisfactory termination, lour directors have been in consultation with the directors of throe kindred societies, and hope to be able in. the near future to submit to you proposals to enable this society to work with one or two of tho others to the mutual benefit of all. The subscriptions received in the year just ended amounted to £414 13s, and the redemption moneys to £338. Mr J. J». Gamble, who had as a director rendered long and very valuable service to the society, retired in the year; and Messrs G. F; Browne and P. Watt retire in accordance with the requirements of the society's rules. Messrs Browne and Watt, being eligible, have given duo notice of their intention to be candidates for re-elootion.

Buyers. Sailers. Sales £ a. d. SUNX8— National of N.Z., £ 8. d. £ s. d. Ud — 6 0 0 New Zealand ... — Pi NANCIAL— National Mortg'o, 11 17 6 Ltd — Wel’n Invest-T^i. 3 9 0 — Co., Ltd 0 11 3 Wel’n Trust Loan, ” ~ Ud - Wel’n Deposit and 7 16 0 ■” Mortgage Asa'n. 0 8 3 GAS— 0 8 9 Wellington, £10... — Wellington, new 19 0 0 — issue (prem.) ... — MEAT PRESESVINQ-* Welling’n Meat Ex3 0 0 port, £5 6 5 0 Welling’n Meat Exv “ port. £4 ... — WelVng’n Meat Ex5 7 0 port, £212a 6d ... . — SHIPPING— 3 6 6 Union Steam (ex) 2 10 We'.'n Steam Ferry — 2 13* 18s paid 0 12 0 Miscellaneous— Leyland O’B-ien 0 16 0 Timber 17 0 — — Miramar Ltd. ... — N.Z. Drug Co. Ltd. 0 2 6 ■* ■ £2 ... 2 9 0 N.Z. Paper Mills ~ (oum) — Taranaki Petro1 3 0 “ • leum, £1 pd. ... 0 15 0 Taringamutu Saw« 0 17 6 “ mills. Ltd. ... 2 9 0 ■Reported. " 2 10 0*