COMMERCE & MINING

New Zealand Times, Volume XXXIII, Issue 7447, 23 May 1911, Page 6

COMMERCE & MINING

THE SHAEEMAEKET WELLINGTON STOCK EXCHANGE. YESTERDAY’S QUOTATIONS. MINING. Blaokwatcr Minos—lo aon., a£l 8a; noon, e £1 8s: 3.15, a £1 Ba. ~ Consolidated Gold(leMs--10 a.m., a 16s jd, noon, b 15a, a 16s 9d; 3.15, b 15a, 8 16s M. Dominion (Karangahake)—noon, a 3a; o.io. 3 Kapangar-10 a.ni„ b 7d; noon, b Bd, 8 10d; Kura-nui Caledonian —3.15, b Is, a la 3d. May Qucou —10 a.m.. b la 6d: noon, b la 7d: 3 15. bls 7(1. sls 9J. , • Now Big lliver—lo a.m., b £o 15s; noon, b £3 15s; 3.15, b £5 15s. New Sylvia—lo a.m.. b2s 10d, a 3a. sales 2b lid (renortod); noon, b 2s lOd, b 2s -.ld; 3.15, b fcUlOd. 3 2s lid, . .. a Occidental Coriaolidafod —10 a.m., b «d, B fid: noon, s sd; 5.15, 6 sd. Old Ilauraki G'. 'Mmcs-10 a.m.. b la 10(1, a 2s Id; noon, b 2a 3d, a 2a 6d; 3.15, b 2s *.d, b 2b 4d. „ „, , Saxon—lo a.m., b2a 2d, a2a 3d; noon, b 2a 2d, s 2a 3d; 3J5. b 2a Id, s 2b 3d, sales 2 s 2d ('Change). . , . -, „ Tairua Broken Hills —10 a.m.. b la sd, a 1b 7d; noon, b la sd. s la 7d; 3.15, b la sd, Talisman Consolidated —10 a.m., b £3 11s &d a £2 12a 3d; noon, b £2 11a 9d, a £2 12a 2d: 3.15, b £2 11s 9d. s £2 12s. Victoria N.L.—lO a-m., B la Id; noon, s Is Id: 3.15, a Is id. „ Wn-ibi—lo a.m., s£3 7a; noon, b£3 6s 6d, B £5 7s; 3.15. b.£3 6a, B £3 6s fid. W.aihi Grand Junction—lo a.m., b£l Ba. F £1 'ds fid; noon, l> £1 Bs, 8 £1 8s 3d, sales £1 8s lid (reported); 3.15, b £1 7s 9d, s £1 ■Waitangi Consolidated N.L.—lO a.m., b 2s, B 2s 2d; noon, b 2a. s 2s 3d. Ross—lo a.m., a 2s; 3.15, 8 2s. Note.—Tho letter "b" signifies buyers and sellers.

ON OTHER EXCHANGES. Flt£SS ASSOCIATION. AUCKLAND. May 22. - Business at this morning's call of the Stock Exchange included: Occidental, 4d. Saxon, 2s. 3d, 2a 2d. Talisman, 52a. Waihi, 66s 6d. Waihi Grand Junction, 28a. New Waitaia, 9d. Taranaki Petroleum, 19a. Northern Coal, 10s 6d. Auckland Trams (ord.), 25s 3d. Afternoon call: Waitangi Consolidated, 2s Id. Old Hauraki, 2a 3d. Kapanga. Bd. v 1 Golden Cross, 9Jd. Tairua Minos, Is 6d. Taranaki Oil, 19s 6d. DUNEDIN. May 22. • Stock Exchange sales: Old Hauraki, 2a. iliiburn Lime, 40a 6d. Bales reported: Waihi, 66s 9d. Waihi Grand Junction, 233. National Insurance, 55a 6cL Westport Coal, ‘ 28s 9d. OLD HAURAKI GULF, The Old* Hauraki Gulf mines manager telegraphed yesterday to the Wellington Stock Exchange: “Twenty pounds of picked stone from No. 2 block. 400 ft; sold • showing/' WEST COAST NOTES. PRESS ASSOCIATION. REEFTON, May 22. The Pactolus dredge obtained 14oz Idwt of gold for 130 hours* work. A long spell of dry and frosty weather. With no rain this month, has hindered work. The stream bout cos are frozen, and the water supply for Boefton has to be husbanded. This is unprecedented. The Keep-It-Dark mine manager reports striking good stone in the new face. No. 7 level. Three feet of stone showing gold hag been struck* WELLINGTON CUSTOMS, The Customs revenue received at Wellington yesterday totalled £1287. THE LONDON MARKETS HIGH COMMISSIONER'S CABLE. MUTTON’ AND lAMB ITEM; BTTTTEB WEAK; FLAX WEAKER. - The Commerce Division of the Depart, merit of Agriculture has received the following cablegram from the High OommlßBloner for Mew Zealand, dated London, May 20th. (Note—Quotations, unless otherwise specified, are average market prices on spot, and last week’s prices are inserted whore available, for comparison): MUTTON’. Tho market is very firm, and there is a good demand tor prime duality mutton. River Plato is in large supply. Canterbury. 33d; North Island, 3Jd per lb; cr \d up on the week in each case. LAMB. Tho market is firm, and there is a . good demand for all lamb. Canterbury, 4Jd; other than Canterbury, 4Jd per lb. Last week —Canterbury. 43d: other, 4d. BEEF. Tho market Is quiet. Supplies of American chilled fceef are large. New Zealand Linds. 3Jd; fores, 23d per lb. Last •week, 4cl and 2Jd respectively. BUTTER. au-e martei- !r * ers are holding back, expecting prices to go lower. Choicest Kow Zealand butter, KBs; Australian, 98s; Danish, lOBa; Siberian, %3 per cwt. Last week’s prices were respectively 106 s, 100 s, 112 a. 100 s. CHEESE. The market is dull. Some buyers are forcing sales. Now Zealand, 69s poi; cwt.

bat have just been informed that there are sellers at 57a 6d. Last week a price for New Zealand was 61s 6d. HEMP. Tho market is dull. I expect no tm'mediato change in the market. Prices on Spot.

■WHEAT. Tlie market is firm owing to reduced supplies. New Zealand long-bemed ox granary, per quarter of 49610, on, short-berried, 345. OATS. The market is firm, but demand only moderate. New Zealand oats, short sT>ar-T-iwbiil.3 ox granary, per quarter of 5841 b, 20a 6(1; Danish, per quarter of 3201 h, 17s 6d. BEANS. The market is quiet, but holders are Arm. Now Zealand beans, f.a.q. (old crop), per 5841 b. 35a. PEAS. The market is quiet, and may 8° lower. New Zealand peas (partridge), per 6041 b, 44s 6d. WOOL. Tho market ia Arm, but not advanced. PORK. Not quoted. The season has ended. OTHER ADVICES B t Telegraph—Press Association —Copyright LONDON, May 2L BREADSTUPFS FOE EUROPE. The quantities of wheat aAoat for the United Kingdom and Europe, today, a week ago, and a year ago, compare: To-day. Week ago. Y'rago. Qrs. Qrs. Qrs. For TJ.K 3.560.000 3,385,000 J.OO^MI) For Europe ... 3,960,000 3,670,000 1,960.000 7,510.000 6.955,000 6,055,000 Shipments from American Atlantic ports amount to 310,000 quarters, compared with Izi.OUfl quarters last week, and 278,000 quarfcers sl your ago. No Pacific Coast wheat was put afloat this week, compared with 16,009 quarters last week, and 15,000 quarters a year ago. „ , . _ The total quantity of wheat and flour shipped from all exporting countries during tho week ended May 20th was equivalent to 2.025,0G0 quarters of wheat, compared with 1,670,000 quarters in the previous week, and 1,240.000 quarters a year ago. Tho weekly toals include tho following; This wk. Last wk. i t ago. Qrs. Qrs. Qrs.

FROZEN MEAT MARKET. The Frozen Heat Trad© Association’s Bmitiifield market quotations for tho undermentioned classes of frozen meat are based on actual sales of not leas than one hundred carcases of mutton or lamb or twenty-five quarters of beof of fair average quality. The quotations are not for selected lines, but for parcels fairly representative of tho bulk of the shipments now on the market. The prices which follow are on an average a farthing _ per lb more than the values ex ship, this difference representing an average cost in expenses, handling, conveyance, and Belling the meat.

THE WOOL SALES Murray, Roberts, and Co.. Ltd., have received the following cablegram from London. dated May 20th: “The wool market Is weaker and irregular. Greasy merino, inferior and faulty, has* declined a shade; scoured merino, faulty and interior, shows a decline of 5 per cent.; and crossbred declined 5 per cent. A considerable quantity has been bought in." HARBOUR FERRIES, LTD. The annual report of the Wellington Harbour Ferries, Ltd., shows a profit of £l&>9 4s 2d on the year's 1 operations. After wiping out tho debit balance of £446 19s lOd from last year, there remains a net balance of £1442 4s 4d. Depreciation to the extent of £1122 8s lOd in the company’s fiteanera and property has been provided tor. A shipping property and reserve account of £I4OO 9s 3d has been established. This arises out of the adjustment of capital agreed to by shareholders at the general meeting held on October 27th last. The directors recommend the of £6OO appearing in the balance-sheet as su> oidont insurance and contingency reserve' to “dividend account,” which, with tho balance of £1442 4s 4d shown in the profit and loss account, will leave tho amount of £2042 4s 4d available for dividend. The directors further recommend a dividend of 7 per cent., which will absorb £1529 15s, and leave a balance of £512 9s 4d to bo carried forward. 'The company is building a new small tug, somewhat larger than the Pilot, for general harbour work. The vessel should bo in commission some time in June, and it is anticipated that she will prove very useful to tho company. The directors to retire in rotation are Messrs A E. Mabin and J. H. Owen. Both arc eligible, and offer themselves for re-elec-tion. The auditors, Messrs Watkins, Hull, and Wheeler, also offer themselves for reelection.

SHARLAHD AND CO., LTD.

ANNUAL MEEnNGK The annual mooting of shareholders of Sharland and Co,. Ltd., was held at the office of tho company, Willeston street, yesterday afternoon, Mr Martin Kennedy. acting chairman (in the absence of Mr William Watson, chairman of directors, In England), occupied tho chair. The report showed that after making the usual provision for bad and doubtful debts and depreciation, the net profit for the year, inclusive of £289 9s 3d carried forward. amounted to £6760 7s Id, which the directors recommended bo appropriated as follows:—To pay a dividend of 7i per cent., £4350 19a 6d; to pay to the reserve fund, £2000; to carry forward tho balance, £409 7s 7d; total. £6760 7s id. The chairman, in moving tho adoption of the report and balance-sheet, said a satisfactory position of affairs waa disclosed. The profit and loss account stood at £6760, It would be satisfactory to shareholders to know that there had been a considerable Increase in business during the yeag. amounting to £13,522 in turnover, with an increased expenditure of £1375, or 10 per cent, or the , increased turnover. Tho stock in hand showed an Increase of £1750. Property had Increased by £13.032. but that had vanished again because tho directors had bought property and sold it during the earns period* They

had purchased the Kclbnrn© Chambers, but then, tho prospects of the company were so good, the directors had decided to go in for new premises in Dixon street, where a property 77 feet by 273 feet had been secured for £SOOO. Tho building, it was contemplated, would cost them £BOOO or £IO,OOO. They hoped to be able satisfactorily to dispose of their interest m tho leasehold premises which tho company at present occupied. . , . , Captain Gray seconded the motion, which was agreed to. , Mr O. Smith was re-oJccted a director. Messrs 11. Kembcr and A. S. Biss (Wellington) and Mr A. Grierson (Auckland) were re-elected auditors. r iho directors’ fees wero fixed the samo as last year, £3'JO- , , On the motion of Mr C. Smith, a vote of thanks was passed to the managers and staff, the vote being acknowledged by ilr Jno. 11, Owen (general manager).

INVESTMENT STOCK. Buyers. Sellers. Bales. £ s. d. £ a. d. £ 8. d. BANKftNational of N.Z.. Ltd - 6 0 0 ~ FINANCIALWel'n Invest T.A.. Co.. Ltd 0 11 3 — Wel'n Trust. Loon. Ltd... ._ ... 7 13 0 7 15 6 — Wel'n Deposit and Mortgage Ass’n. 0 8 3 — GASNapier 24 12 6 Palmerston North — 25 0 8 17 0 6 Wellington, £10... — 19 0 0 — Wellington, new issuo (prem.) ... — 3 0 0 — MEAT PUESBETINO-* ‘ Welling’n Meat Ex* port, £5 6 5 0 — — • Welling'n Meat Ex* port. £4 ... — 5 7 0 — Welling’n Meat Export. £212a 6d ... — 3 6 6 — SHIPPING— Union Steamship — 2 1 9 2 13* Wel'n Steam Ferry 1£B paid (cum) 0 12 0 — — MANUPACTUEING— Welling'n Wool'n, preference ... 3 0 0 — “ COAL— Westport 1 B 0 1 8 6 MISCELLANEOUS— Leyland O'Brien Timber 17 0 Manning and Co., Ltd. 4 6 6 ■ Miramar Ltd. ... — 0 2 6 m.Z. Drug Co. Ltd, £3 2 9 0 — N.Z. Paper Mills (cum) — 1 6 0 — . Taranaki Petro0 16 3 learn, £1 pd. ... 0 16 9 0 16 5* Ward and Co, Ltd 5 0 0 — — •Beported.

This week. Last week. per ton. per ton. £ 8. d. £ a. d. N.Z. good fair 20 5 0 N.Z fair grade 19 5 0 20 5 0 19 15 0 19 15 0 Fair current Manila... 18 10 0 For Forward Shipment N.Z. good fair 20 5 0 20 5 0 19 15 0 N.Z. fair grade 19 5 0 Fair current Manila ... 19 0 0 The output from Manila for was 26X00 bales. tho week

Argentina and Uruguay 354.000 258,000 129,000 910,000 745,000 680,000 135,000 135,000 * 109.000 115,000 76,000 Australasia 75,000 74,000 53,000

May 13. May 20. Mutton— d. d. Canterbury, light .... 3i 33 Canterbury, medium .... 53 Canterbury, heavy 33 North Island, best ........ 25 6 1-lb North Island, ordinary ... 23 26-16 North Island, ©wes 2i 23 Australian, light 211-16 25 Australian, heavy ........ 2 9-16 23 Australian, ewes 2 9-16 21 Elver Plate, light — 23 34 Elver Plato, heavy 2i _ 23 Elver Plate, ewes .... 29-16 23 Lamb — Canterbury, light — 41 43 Canterbury, medium .... 4i 48 Canterbury, heavy ....... 4a 4* 4 5-16 North Island, best -.. 4J 4 6-16 North Island, ordinary ... 4 4 3-16 Australian, best ..... 33 33 Australian, fair ..... 3i Australian, inferior .... 57-16 3i Elver Plate, best 31 3g. Biver Plate, seconds ..... 31 38 Frozen Beef— New Zealand, fores .... 213-16 21 New Zealand, hinds ..... 4 33 Australian, fores —... 23 2i Australian, hinds _.. 315-16 3i Elver Plate, fores .... 23 28 Elver Plate, hinds 3J 33 Chilled Beef— Elver Plate, fores .... 23 — Elver Plato, hind; .... 43