COMMERCE & MINING

New Zealand Times, Volume XXXIII, Issue 7847, 8 July 1911, Page 6

COMMERCE & MINING

! THE SHABEMARKET I WELLINGTON STOCK EXCHANGE. YESTERDAY'S QUOTATIONS. Blackw-ater Mines—lo am., s £1 9s fid; noon, b £1 Bs, s £1 9s fid; 3.15, b £1 9s fid. Bpemncr’a Freehold—lo ami., b 3d; 3.15, b 3d. Consolidated Goldfields (paid)—lo a.m., b 19is fid, a £1; noon, sales 19s fid-(reported); 3.15. b 19s. s £l. Kuranui Caledonian—lo a.m., b Is Id, s Is 3d; noon, ,b Is Id, s Is 2d; 3.15, b Is, s Is 3d. May Queen—lo a.m.. b 2s sd. e 2s 8d; noon, b 2s fid, s 2s Sd; 5.15, b 2s fid, s 2s Bd. New Big -River—lo -a.m., b £3 18s. s £4 (ex). New Sylvia—lo a.m., b3s lOd, s 4s; noon, b 3s 9d, s 3s lid; 3.15, b 3s 9d, s 3s lid. sales 3s lOd. 3s 10id (reported), Saxon —10 a.m., u 2s 3d. 3 2s 4d; noon, b 2s 3d; 3.15. b 2s 3d. e 2a-sd’ Tairua Broken Hills—lo am., b 2s Id, s 2s 3d; noon, b 2s Id. s 2s 3d; 3.15, b 2s Id. s 2s 3d. - . Talisman Consolidated —10 am., b £2 9s 3d. s £2 9s fid; noon, b £2 9s 3d. b £2 9s fid; 3.15. b £2 9s 3d, sales £2 9s 3d (reported). IVaihi—lo a.m,, b£3 6s 9d, s£3 7s; noon, b £3 Cs 9d, a £3 7s; 3.15. b £3 6s 9d. s £3 7s. Waihi Grand Junction—lo am., b£l 7a 3d, s £1 7s fid; noon, b £1 7s, e £1 7a fid; 3.15. b £1 7s, s £1 7s fid. Waitangi Consolidated N.L.—lO am., b2s 9d. s 3s; 3.15, b 2s 9d, WaHii Pacroa—lo a.m., b 12s (prem); noon, b 12s (prem); 3.15, b 12s. Ross—lo am., s2s 3d; 3,15, s2s 3d. MINING. Note. —The letter "V* signifies buyers and r, .e * Fellers. INVESTMENT STOCK. 1 Buyers. Sellers. Sales.' £ 3. d. £ s. d. £ s. d. banks—financial— National Mort’ge, Ltd 3 10 0 GAS— Christchurch. £5 915 0 INSURANCE— South British of N.Z 3 14 0 meat Preserving— Welling’n Meat Ex* port, £2l2s fid ... SHIPPING— N.Z. Shipping Go. Manufacturing-* Welling'n Wool'n, ordinary COAL— Taupiri ——ll6 Westport ... ... 1 9 o Miscellaneous-* Kauri Timber, 15a paid 016 3 016 9 ‘ Le.vuuid O’Brien Timber 17 3 N.Z. Drug Co., Ltd., £2 2 9 3 N.Z. Paper MUis 110 116 Sharlanu and Co, Ltd., preference 13 0 —. Taranaki. Petroleum, £1 pd. .... 0 17 3 Tar.ngamutu Saw* mills. Ltd. ... 2 6 0 2 8 6 Ward and Co, Ltd. ON OTHER EXCHANGES.

3PBESS ASSOCIATION. „ . AUCKLAND, Jul- 7. Business at tho morning call of the Auckland Stock Exchange included: Kuranui Ca.edoniau, la Id. May Queen. 2s fid. Waiotahi. is 2d. - Saxou, 2s 4d. Watchman, 2s 2d Bremncr's Freehold, 3d. Tairua Mines, 2s Id. Walhi, 675. AVailii Grand Junction, 27s 3d, 27s 6d. Waitaia, 6d. Auckland Trams (ordinary), 25s 3d. Afternoon call: May Queen, 2s Bd, 2s 7d. New Sylvia, 3s 10d. Saxon, 2s 4d. Waiotahi, 3s 2d, 3s Id, Watchman, 2s Id. Waihl, 675. Tairua Mines, 2s 3d. DUNEDIN, July 7. Dunedin Stock Exchange sales:— New Sylvia, 3s lOd, 3s lid. Talisman Consolidated, £2 9s 9d. Walhi, £3 7s fid. Sales 'reported: New Sylvia, 3s lOd. * Talisman Consolidated, £2 9s 3d Watchman, 2s 2*d. Union Steam, £2 Is 9d. CHEISrCHURcn. July 7. .Sales reported on Canterbury Stock Exchange:— National Bank of New Zealand, £6 Is 9d. Canterbury Frozen Meat Co., £8 12s fid. £8 12s fid. £ cw Zea and Farmers’ Co-operative, 525. Waitangl Consolidated, £2 IQs. WAIHI JUNCTIONS IN LONDON. By Telegraph-Press Association—CopvHght LONDON, July 6. Waihi Junction shares are quoted at 25s 7d to 2 6s lOd. GOLD DREDGING RETURNS. PSESS APSOCIATICN’. DUNEDIN, July 7. Dredging returns for the week are: Good Chance 60oz fidwt, Electric No. L 41oz I4dwt,

Electric No. H. 38oz 19dwt, Manuherikia 2Soz, Karaomii 260 z Idwt, Central Charlton 20oz 7<iwt, Mastertou 15oz 3dwt, ‘NVaikaia lloz 17dwt. Mystery Flat 9oz lldwt. FINANCIAL CABLES BANK -OF ENGLAND RETURN. By Telegraph—Press Association—Copyright (Received July 7, 8.30 p.m.) LONDON, July 7. The Bank of England return issued for tho week ended Wednesday* July 3th, is as under; Istes Dbparturkt. Note Issue £57,178,000 Gov. debt. £11,015.000 Other securities .. 7.434.000 Geld., .. 38.72-,),CO} £57,178 008 £57,178.000 Sacking Department. Proprietors’ Gov. socuricapital £14.553,000 ties .. £14,900,C00 Public do- Other aa•nesits .. 10,764,000 enriUes .. 3<,618,000 Other de- Notes .. 27.475U00 posits .. 52,590,000 C*ie ~ 1,254,000 Rest 7 day andother bills .. 3,422.000 £81,329.000 581,329.000 The leading items of tho Bank of England return afford tho following compari- : eons; This week. Last week. Last year. £ £ £ Bnlßon 38.729,003 29.311,000 40,237.000 Ses-Tve 28.712.000 29,456,003 31,082.010 Note circ’in. 29,691.003 29.431,030 28,852.030 'Deposits 63.354j0C0 63,042,030 66,968,050 Proportion j of reserve tto Ua .~i 45.30 46.71 46.40 CONSOLS AND AUSTRALASIAN STOCKS. Current quotations for tho Consols and Australasian Government stocks, compared with thoso of last week, and tho corresponding period of last year, are: Stock. Thisweek rjSßtwoek|.y e a a s^ * £ b. d. £ 8.~d.l fc s. d 2i»z, imperial Consols 78 15 0 70 10 01 82 2 0 4 % New Zealand* -• 104 0 0 104 0 0 XOG 10 0 5i% New Zealand! .. 96 10 0 96 10 0 97 10 0 5 % New Zealand! .. 86 10 0 86 10 0 87 10 0 4%*Wew South Wale* 104 0 0 104 0 0 10;> 5 0 31% New iouth Wales 99 10 0 99 10 0 99 10 0 3% Now South WseP 87 10 0 87 10 0 88 10 0 4 % Victoria .. ..101 10 0 101 10 0 102 0 0 B*% Victoria .. .. 97 10 0 97 10 0 98 0 0 a % Victoria .. .. 84 10 0 84 10 0 85 10 0 SA% »ou l h Australia 98 0 0 98 0 0 98 15 0 5 % South Australia 81 10 0 81 10 0 85 0 0 4 % Queensland 102 10 0 102 10 0 102 0 0 34% Queensland .. 98 0 0 98 0 0 97 10 0 3 % Queensland ~ 86 10 0 86 10 0 8-) 10 0 84% v\ est Australia.. 97 0 0 97 0 0 97 10 0 8 % West Australia 83 10 0 88 10 0 87 10 0 34% Tasmania .. .. 90 10 0 96 0 0 98 10 0 5 .. .. 84 10 0 84 10 0 86 0 0 •Interest payable in Way and November, tluteresc payable in January and July. pay ah e in April and October THE MONEY MARKET. The Bank of England -deposit rate remains at 3 per cent., to winch it was reduced on March 9th. A year ago it was 3 per cent. The open market discount rate for best three-month bills is 5s lower on tho 'week at 21-16 per cent. A year ago it was 2J. Short loans are £l‘ 6s 3d lower at 13. A year ago the quotation was lg. . .... In Parts the open market discount rate is unchanged at 2J. A year ago the quotation was 2. Tho Berlin quotation is £1 2s 6d lower at ,2|. A year ago it was 2g. , GENERAL MAEKET CABLES ■WHEAT MARKET ITEM. By Telegraph—Press Association—Copyright (Received July 7, 8.30 p.m.) LONDON, July 7. The wheat markets are firm owing < to the continuance of unfavourable crop reports, from Russia’ and A merit a. Cargoes are firmly held. Two Australian cargoes sold at 34s and 33s respectively. MarchApril shipments are offered at 345, Australian on the spot is quiet at 365. FLOUR MARKET QUIET. Flour.—The market is quiet. Australian, nearly due. is selling at £23 9s per ton c.i.f. July-August shipments are offering at £22 9s to £23- ( OATS MARKET STEADY. Oats aio steady. La Plata July-August shipments realised 15s 4Jd. BUTTER IN STEADY DEMAND. Butter is in steady demand, and the tone of the market Is firm, owing to the general hot weather in Europe. Danish is quoted at 115 s to 116 s ner cwt, choicest Australian 102 s to 104 s. unsaltod lC6s to 106 s, secondary qt a titles 94s to 98a.

THE CHEESE MARKET. * The chceso market is very firm. Old Canadian 60s to 63s per owt. New Zealand is unaltered at el's to 61s, Queensland 56s to 58a 9d. SUGAR.

German beet sugar, 88 -per cent, net titro, is 9d higher at lls 8d per cwt; first marks also 9d higher at' 12s lOd.

THE wdoL MARKET. The Bradford ■wool market is firm and unchanged. The Antwerp sales closed with , a weak tendency. Merino was five to ten centimes and crossbreds 15 to 25 centimes below May rates. Four thousand seven hundred and twenty bales of La Plata were offered and 1752 EOld ‘ PRICES OP METALS. Copper on tlio spot ia 3s 9d lov;er on the week at £66 12s fid per ton, three months ia also 3a 9d lower at £57 3s 9d; electrolytic £SB 12s fid. Tin. on the spot £194 10a per ton, three months £IEB 15s. Pig-iron. Middlesbro No. 5 is 4d lower at 4fis por ton. Spelter is unchanged at £24 12s fid per ton. PRICE, OF SILVER. LONDON, July 6. Bar silver is quoted at 24Jd per ounce, an advance of l-16d on the week. . Dalgcty and Company, Limited, have received the following cabled advices from their London house under date July 6th: Tallow.—Par to 3d per cwt lower. Frozen Meat.—The market for frozen meat and lamb is very dull, and any change in prices is in favour of buyers. ' The demand for beef is limited, and prices are higher by |d. . EXPORTS FROM ARGENTINE. The Commerce Division of ; the Department of Agriculture and Commerce has received the following cablegrtm from Buenos Ayres, dated July 6th : The following shipments of produce were despatched from the Argentine to the United Kingdom ports during June, 1911 (compared with June, 19101 1911. 1910 Frozen beef, quarters 119,0 0 326,034 CM Hod boM, quarters 199,(.00 176,596 Frozen rautt m. carcases 1.. 223,000 184,932 Frozen lamb, carcases 92,000 51,139 Butter FRUIT AND PRODUCE WELLINGTON MARKETS. Daring tho week the market has only been sparsely supplied with shipments of New Zealand apples, tbo volume of which now in the hands of orchardists must bo very small. The demand has kept at a particularly good level for both dessert ami cooking varieties, despite the cold weather, and should suppics still continue to show any substantial diminishment, the advent of Tasmanian grown next Friday, which will come in under the reduced duty of Jd per lb, instead of as now Id per ib, will tend to meet tho requirements ert the market. A small quantity came to hand yesterday, and sold at prl-.ea which indicate that exporters in Tasmania will be able to find a satisi'aot'ry outlet here with the dutv reduced. Shipments of New South Wales fruits, comprising mostly passions and oranges as well as mandarin.®, met with a fair to good inquiry. Passions were somewhat sluggish owing to heavy supplies being available, but mandarins met with good competition. The heavy quantities of island oranges which have reached the Wellington market during the past fortnight—in all a total of three separate loads have been available-has rather brought about a depression, but this Is expected to work

off immediately, and the market should regain its usual buoyancy. Apples, choice local dessert 8s 6d to 9s 6d case, prime 7s to 8s case, cookers, prime, favourites 5s 6d to 7s 6d case, prime ordinary 5s Gd to 6s: pears, choice dessert iu excellent demand at 14s to 16s case, prime 9s to 31s, stowing 6s to Ss; tree tomatoes-. 3s 6cl to 4s 6d box, hothouse tomatoes 6d to 9:1 lb. POTATOES AND ONIONS.

Advices from thrt south indicate that supplies have been found to bo far heavier than anticipated, with the result that prices have .veakened to a considerable extent during the past week. It is just a question, however, as to whether these lower rales will prevail to any extent. Until recently Southland were holding out strongly fov higher rates than what Canterbury mopchants were willing to sell at. hut that* market has now also declined. Quotations in Australia nro altogether too high to allow of that market exporting to New Zcao land. A fair inquiry continues to rule for onions, of which both Victorian and New Zealand-grown are available, the former showing better keeping quality. Reports from tho south go to show that supplies* Ihcro are net any too plentiful- Potatoes, prime table £5 to £5 I.os per ton, inferior sorts 4s to 5s sack; onions. £4 Ids to £5 10a per ton, according to condition.

OTHER VEGETABLES. The preheat state of the market for both cauliflowers and cabbages is reminiscent of the markets two or three years back, when, cauliflowers ruled in tho region of 50s sack; both these lines arc in particularly small supply, and other descriptions of vegetables are not any too plentiful. Cauliflowers, choice 14s to ISs per sack* prime 8s to 12s, with occasional sales o\ higher prices; cabbages, choice 9s to Us sack, prime 6s to 8s; turnips, 3s to 4s sack; parsnips, 5s 6d -to 6s 6d; swedes, 30s to 40s ton: carrots, 5s to 6s sack; French beans* 32s to 14s half-cack; broad beans, 7s to 9s half-sack; spinach, os 6d to 4s 6d case; pumpkins. 4s 6d to Gs 6d sack; marrows. At 6d to 5s 6d siick; artichokos,9s to Us sack.

EGGS. The market has been a falling one fov some considerable time past; supplies aw coming forward freely of fresh eggs, which are ruling at Is 4d dozen, and preserver are in fair demand at Is 2d. POULTRY. , - . * Supplies of dead poultry avo meeting witj a good measure ot attention, the marked showing a good tone. Hens, good heavs •Ss 0d to 4s, fair 3s; roosters, good youns 4s to 4s 6d, fair 3s to 3s 6d; ducks, 4s U 5s 6d pair; turkeys, gobblers 16s to 29s pais hens, 8s to ids, according to weight. LIVE STOCK SALES FEUDING. The New Zealand Loan and Mcrcantil* Agency Uompany, Ltd.,- reiwrt: At, Ainu on Tuesday we nod a good, yarding of both suoep and ca.tue, tne latter chucuy dairy lioders. Sheep showed a dockied uni)rover, meiit all round. Dairy catue *»oiu we it rtu.eep—Ewe iioggete fetched 8s 5d and 9s sd, wetner hogcote os' Ba, mixed bun us tsma.ll 4s lOd, forward empty owes ICs sd, foua> year ewes ui lamb (goo-a) los Id, lot wethers 14s Id. Came—Empty two-year i«ei*ers £3 to £3 30s, springing three-year hoiiera £5, apruigaig cows a.o. * Mr Ua* grade Jersey cows made £7 ids for tuc line. A five-year harness gliding sold tor ,£l4 15s. At Jb'eiidmg on Friday we had a good yarding oi bucep and a heavy yarding of cattle. Prices were well maintained all lounti, and we were successful m ixacdng every pen of sheep and tho .hulk of the cattle. rtneep—Ewe lambs realised 13s, fal. iambs 12a 3d, mixed lambs 6s, .wethers usmad) las Bd, fat owes Us vd, empty ewes (cuL«) 2s 5d to 5s 9a. ewes in lamb (cuLLa* as. Cattle—'Weaner steers £2 7s 00. springing hellers £3 5s to £6 2s 6d, cows xx£ call 1 a2 to ±6, empty cows £3 to £3 10b, lat cows £6 15s. LEVIN. Dalgety and Co„ Lta., report: Yesterday we yarued o\t*r 3UjO sneop, which met winu a rcauy sale, and we quitted all with tho exception of one peif of wethers and oaio oi owes* at the following prices;—rtueep— Fat ewes 14s to 14s 6d, fat wethers 15s lOd, lbs 9d, ISs 3d; forward wet-hem,l£a; . hoggets, 9s lou. bs 6d; smaa.l hoggets, 6s, 3s bu; empty ewes, 9s 7d, 5s 3d, 4s; four-tooth and f.f.iu. owes in lamb, 123 sd, bs 2u, 7s id; two and four-toouh ewes in lamb, 15s 6d.‘ Cattle —Weaner ytosrs 2ls 6d, weaner heifers, 4Lis; 35s 6d; unbroken draught golduig, £26. Abrauam and Williams, Ltd., , report: At Levin on Friday we had a yarding ot. close on 3200 sheep, which met. with rather u dragging sale. 'With- the exception of two peas, however, the various lots changed handi.- A smauer yarding: of cattle tnon. usual came forward* conaj&tmg mostly ol . ieiuale stock. Good springing cows and dairy : henevs -soid reatujy, out low-oon-af-tionod stores were difficult to quit. Sheep. —Fat ewes realised 12s Id to fat and, forward ewes 9s t>d u> a is, lorwhra ewoa Ss to'9s, store .owes 5s to 6s 4d, soundmouth ewes in lamb 12s Id, aged owes in iamb 7s sd, cull ewes iu lamb 3s 5d to ss, two-tooth wethers Its 6d, good lamljs 8b 8d to 9s 7d, medium Lambs 4s lOd to 6s 6dt cull lambs 2s. Oatilc —Fat cows £5 to 13s, forward cows £4 to £4 17a Gd, store cows £2 15s to £3. springing cows £6 tu £8 15s, grade Jersey heifers in calf eight^en-nontiu ß - steers £2 5b to £2 TOs* wooners 19s. EKETABUNA. Da'gety and Co., Lfcdr, report having held their usual fortnightly aar* in Eketiihona yesterday. There was a fair j’arding of sheep and cattle, but sheep were dragging i under the hammer. Cattle sold at better prices 1 than usual Sheep—Ewes in Jacob (poor sorts) realised 5s lOd to 7s, fat and ionvajrd empty ewes 9s 3d to 10s 6a, two. tooth wethers 10s 9d to 12s 3d, two-tooth ewes 30s. mued hoggets 7s. Cattle—Springing heifers £4 10s to £5 15s, cows and coivos £3 10.5, twenty-months steers £2 10s, weaner steers £2 3s 6d, woan-cr heifers 255, bulls £3 12s 6d. : MANGAWEKA Dalgety and Company. Limited, report:-* At dur fortnightly Mangaweka salo on July sth, omng to rough weather, only a medium entry' come to hand, all of which mot a ready sale. Sheep—Ewo lambs fetched 5a to,6s Id, mixed age ewes in lamb 7s Id* empty ewes 5s 3d to 8s 9d, light fat owes to 12a 7d, fat ewes to 14s Id. Cattle—Light fat heifers to £5 7s, fat heifers, good £6 6s to £6 12s. RAUMAI. Dalgety and Co., Ltd., report:—At th* clearing ?alo of dairy stock held at Eaa* mai saieyards .gii July sth on account ct Mr T. Bir .I, cows calving early were in good demand, but late calvers were practically neglected. Ihc following are the prices realisod—arly caivors £7 13 s * 6d to £9 5a t backward calvers £6 5s to £7 2s 6d; sows in pig £4 ss. . PALMERSTON. Dalgety and Co., Ltd., report; At Palmer* st.on on Thursday wc had good yardiogs of shcop and cattle. The former met with a keen demand. Small mixed hoggets made 4s lid, medium hoggets to 8s sd, good mixed hoggets to 9s’9d, .email two-tooth wethers lls 6d, forward wethers to 13s 8d« light fat ewes 12s, prime fat wethers 16s 9d, two and four-tooth Lincoln ewes 235, wean* era 28a 6d, store cows £2 7s 6d to £2 Ida, dairy heifers to £6 55,, forward bulloclm £7, SOUTHERN MARKETS. PBESS ASSOCIAriON. CHRISTCHURCH. July 7. There i? rather more inquiry for wheat* a better tone being manifested in the London market, though this really has, little bearing oh tho local .market, as there is m export business doing. The turnover is, however, mainly between merchants, aa only odd lots are being offered by growers, and they are still holding out for their own prices. The outside pric? for mixed lines is about 3« 3d at country stations, and velvet will command about one penny more, VvTiat little business is doing in oats is entirely for local consumption, and there is no change in values to note. In chaif business is practically of the same nature, there being only a small amount pawning, aad the price is still nominally 85s at stations. Potatoes ate dull of sale, as merchants arc finding it difficult to do shipping busk nes<s against the lower quotations ruling in tho south, and nrices are consequently easier 56> to 57s 6d at country stations now being offered inquiries arc. now set. tin" in for seed potatoes, Beauty of Heb., rou and Early Rose being worth £5 10s to £5. and other varieties £3 to £7 per tom Butter, both factory and dairy* has advanned another penny r-cc lb, tho wholesale quotations being factory Is 4d to Is sd* : farmers’ separator la 4d to Is sd, and dairy Is Id per lb. , The C«rt.oms revenue received at WoU lington yesterday totalled £2072.