COMMERCE & MINING

New Zealand Times, Volume XXXIII, Issue 7848, 10 July 1911, Page 9

COMMERCE & MINING

THE SHARE MARKET WELLINGTON STOCK EXCHANGE SATURDAY'S QUOTATIONS, iruo-va. Hale* —lO a-m.—TaJißinan, £2 10a. £2 IDs stl (cj. Noon.—Now Sylvia, 33 9d, 9i« (r); Tatnra Mine:*, 2s 64d (r); Grand Jane.tiotL, £1 7s (r). . . Quotation*.—Noon—Blackwater, £1 cs to,, £1 9h 3d (s); C’onftotidated Goldfield*,£i Kuranui Caledonian, Is 2d (b), Is 4d (■»); May Queen. 2s Sd (b), 2s 7cl (.«}; baron, -9 /Id fb), 2s 5d (s); Talisman, £2 10s (b), £- 10a Gd (s); Wailu, £3 6s 6d (aj; Waitansi* 2h 10H ,b). 2» lid (s); Watchman. 2a Id (o). 2a 3d (s); Waihi-Pacroa, 12s lb). INVESTMENT. Bales —lO aaa.—rUnion Steam, £2 la 9d (r); Wellington Woollen (ord.), £4 te (r); New Zoom ml Drug, .£2 9a 3d (r). Quotations.—lo a.ra—National Bank, *J 0s Od. (b); National Mortgage, £5 8a ba (b. ex-); Now Zealand and River Plate, Za (s. ex.); Deposit and Mortgaso, os wi («); (Rxri&tch'uxoh Gas. £0 153 ‘'b); South British, £3 14a 6d (to; Meat Kxport (£2 l--s fccl), X’3 os 6(1 (vs); New Zealand Shipping £ll 12s Gd (b), £ll 15a (s); Woffington «o© 1 * leu (pref.). £5 Is (b); Westport Coal, £1 c -‘s 3d (hf; Leylaiid-O'-Bricn, £1 7s 3d (b); Manning and Go., £4 7a Gd (s); New Zealand Paper Mills. £1 & (b). £1 Is 9d (s); bharlatwl (pref.). £1 3s 6d (b), £1 4s 6d fs>; Taranaki Petroleum, 17s 3d (a); ’Pamnga-mutu-Totara. £2 6s (b). £2 8s 3d (s); Wmlr combo and Tombs, £6 7s (b). ON OTHER. EXCHANGES. PRESS /-SSOCXATION. AUCKLAND, July B. Business done at- the morning call of the Auckland Stock .Exchange included; Kuramii Oalodonian, Is 2d, Is 3d, MoanatairL si<i. Tairou. Mines. 2s 4d to 23 7d. Waihi. 665, 663 3d. Grand Junction. 27s 3d. Saxon. 2s 4d. Victoria. Is. Kapauga,, 6cL Waitungi, 3a IdWilsons Cement (ord.), 59a. CHRISTCHURCH. July 8. Sale* reported on the Canterbury stock Exchange: British New Zealand Moat Co, (ISe paid). Now Zealand Shipping Co., £ll 12s 3d Wailii Grand Junction, 27s lli-d. DUNEDIN, July S. Dunedin Stock Exchange sale: Junction, 27s 5dSalea reported: Douaghy's Hope and Twino (new issue;. New Sylvia, 3s 9id. 5a iOd. Talraa Mines, 2s 2d. New Zealand Drug. 49s 3d. TALISMAN CONSOLIDATED. The folio-wins telegram was received on Saturday by tho Wellington Stock E*“ chons* from the Talisman Consolidated: “Jane return, 458) tons tar £19,019 17s 2d; total costa, 34s Gd; development 83 3d, mining 12s milling 12s sd. general Is lOd. “Cable London following: No. 15 level driving north off No. 12 winze; progress 73ft reef 30in wide; average value, £1 is lid. Driving south off 12 winze; progress 25ft, reef 6Cin wide; average value, £9 /s; No. 16 rise, progress 19ft; Wfof wider than rise; average value, £9 145." GOLD DREDGING RETURNS. PEXftS ASSOCIATION, DUNEDIN, July 8. Additional dredging returns: Sandy Point, 240 z 7dwt; Blackwater, o7oz 15dwt; Wur'aop. 82oz Idwt; Golden Sun, Itoz Id-wt; Trafalgar. l4oz 2dwt; Waikaka United. No. 1. 16oz Waikoka United No. 2,15 oz lOdwt; Rising Stm, 290 z 15dwt; Otago, 16oz. WORKSOP DREDGE. The following LdLogmm was received on ?£Vtu*day from the Worksop dredge by. tho, WeLlington Stock Exchange; “83oz Idwt; 123 hours." GOLDMINI3TG .VHCIAI, TO TBS " TIMM.” AUCKLAND. July B. MAT QUEEN. The fact that no further picked stone was reported from tho ICOO feet workings iu the May Queen mine caused shares in that company to decline in price since last report. Sales were made os low as 3s sd, but at the late call yesterday and again to-day several thousand changed hands at 2s Gd and 2s 7d, SAXON. Shares in this company touched 2s 5d when better country was reported m the crosscut at the ICOO feet, but subsequently sold a penny lower. NEW SYLVIA. Very free sales have been mode of New Sylvia shares. Since the battery started operations as high as 4s Id was touched, after which sales were made at 3s 8d and 3a 9d. WAIOTAHI AND WAITANGI. Several transactions took place in Woio-t-p.hi shares during tho week at 3a 2d, while Waitangi shares were transferred at 2s 10d, at which figure more could bo placed. SOUTHERN MINES. Southern mining shares showed' Uttlo change with the exception that Oonso’idatod Goldfieids sold at 19s 6d. and a small line of Ross changed hands at 2s. COROMANDEL. MINES. Coromandel lines wore without movement since last report, A few sales took place of New Zealand Crown shores at 3s &d, and Golden Cross sold at Is Id and Is. A few pounds of stone showing good dobs of gold from the Kirikiri mine caused shores in that company to be naked for up to 4d, which should bo a good thing for those who recently purchased this stocit at auction at Is per thousand. Tairua Golden Hill ©hares still rule at from lOd to lid, hut Toirua Mines sold up to 2s Id. WAxms. YTaihi shares have finned slightly sine© last report, having sold up to 67a. while Grand Junctions changed hands at 27s 9d. Talhnnan Consolidated shares are still unquoted in Auckland. MAORIDAND. In the course of his report for the week ended July 3rd the manager of the Maoriland Mine states that at the intermediate level (75 feet below No. 3 level) the ore from No. 1 etopo. ©oath of tho winze, has shown gold freely, and ore of very good quality has boon won from No. 3 stopo north of the winze. Tho battery manager reports that for tho week ended on Saturday last tho nine stamps ran continuously for 1091 hours. The amalgam procured from the run amounted to 1370 z The Maoriland Goldmining (Jamparty applied to the Ohinemnri County Council to assist them in obtaining a grant of £SOO from tho Government to help carry on mining operations on their property. Tho council decided to forward the application to the Minister of Mines for his favourable consideration. KOMATA REEFS. Tho following cable hoe been dispatched to London; “Wo are crushing 20 tons per 24 hours. The value of the oro coming to tho batter is £?.. No. 1 crosscut west on No. 4 level driven 38 feet during past month. Have cut a reef 18 inches thick, value £1 per ton. No. 2 crosscut, east on No. 4 level 35 feet driven during past month. Total foot 195, going through hard rock." LONDON MARKETS. By Telegraph—Dross Association—Copyright. LONDON, July 8. COTTON. Tho > Liverpool quotation fo-r American middling Upland cotton, July-August shipments is 7.61£d, a drop of 16 points on tho week. COPRA. Copra is dull of sale. South Sea Island, in bace. £22 153. a drop of £1 on the week. RUBBER. Fine hard Para rubber is quoted rvt 4s 3d per lb. a rise of 2id on tho v_c.ek.

KAURI GUM At the Irauri sales 150 cases were offered and 27 e-old. Prices were unchanged. Three-quarter scraped, nominally 160 a to Iciiii. stock, 266 eases. PRICKS OF METALS. Copper on tho spot is quoted at £56 15s per Lon; three months, £59 6s 3d. Tin us quoted at £155 per ton for cash. 1 PRICE OP SILVER. LONDON. July 7 Silver is quoted at 24 s*l6d per ounce. LONDON, July 8. The price of silver has risen to 2Ai d per ounce. WELLINGTON & .OVERSEA MARKETS PRICES AND PROSPECTS. WHEAT. Luring tho past week the market for fotofiV wheat x~xa oemujuMl a hanpeony por bvhjiiei, and busiuess is ihea±ncO. to ue done a litlio more ireely. boverad lines or Amtraiiaa rowl wheat have been lauded this week. This wheat, although . siighUy damaged ami not suitable lor uuudig purposo-s, is very good letxi wheat, and has been lauded at a iittic below im> coot at wnich southern wheat can bo bought and delivered hero. Gabies just to baud report that the wheat market at iiomo is showing a iirmor tone duo to Lthtavourablo crop reports arriving from Russia and America. In coirsequcnoo of this cargoes are lirmij held. Last week’s reports indicated that tho markets wero dull and inactive. Two Australian cargoes wero sold during tho week at 31s end 33m, while March and April shipments offered at ofis, and Australian was quiet at 3Gs on the spot. With the exception of the Russian and American crops being adversely affected lately by wcu--1 tiu>r, and in these countries this season there aro abnormal supplies of wheat, other growing countiies appear to bo progrossing favourably. Despite i tho reported premature ripening of tho United States crop there has not been any com- . wonsurato rise in values at Home mdicato that the damage is of very groat moment so far. Tho sparse nows from Russia this week its to unfavourable weather does not indk*ato to what extent the present position is, but this season Russia has under wheat an area of 70,500.000 acres, being an increase of 5,800,000 acres over the previous season, or 0,200,000 acres above that of two sea-fi-ons ago. Under date May 19th “Boevbohm“ repoi'ts as follows; —“The latest reports on tho progress of tho American winter wheat crops are very favourable, auq iair to good rains in the spring wheat districts oi, both the United bbates and Canada have given these cix>i>s a lair start; the latest advices by calno point to tho area sown being larger than indicated up to a w r eek or two ago. ine average sown is so largo that, with ordinary climatic conditions in tho future, the combined crops of America and Unnpxla may exceed last year’s yield by several million bushels. Judging from the official and private report* received regarding tho condition of tho crops in ikmth Russia at the end of last week the position would appear to have been a critical one. Fortunately for tanners there been a change for the better, fair rains having fallen during the past few days. These rains are reported to have saved the situation for the time being, but much, more will bo wanted to ensure anything liko a fair yi®ld-. < Lhe area sown last year amounted to (U,000,w0 acres, or an increase of acres, compared with the previous year, and 9.200.000 acres above ihew year prior. This explains to a great extent w'hy, not" withstanding tho unfavourable weather conditions of July and August last year, the yield proved to be so much larger than was anticipated. It is still cJainioa that there aro larso reserves in the interior left over from tho previous crop, and that exports iriil consequently continue liberal. According to “0 hunt official reports so far received tho Indian crop, although undoubtedly a largo one, is not torn,up out quite so abundant as previously expected. So far shipments have been quite moderate, but f‘Xpected to show a fair increase shortly. The total Commonwealth export from December Ist, 1910. to Juno Lth 1911. was 39,072,729 bushels, as compared with 37,230,956 bushels from December Ist, 1909, to Juno 18th, 1910. POLLARD. The New Zealand Flour Mailers’ Association’s price for pollard unchanged. Australian pollard as amvmg each week in small parcels, the presen value in Sydney being; .Al 7s Od per ton. f.o.b. Thisudoos not leave much margin between the Australian price here anc the price of local pollard, <itki the Australian pollard being almost invariably packed in second-hand sacks, southern, pollard is preferred to it on that account. CHAFF. Tho local market in this lino is well supplied at tho present Very little business is, being done with tho south in consequence. It is reported that in Auckland a fairly large quantity of Australian chaff is being imported, but it is of very inferior quality, all tho parcels being badly infected with weed. Prices her© remain unchanged. MAIZE. Tho Magic arrived from Gisborne last week with a full cargo of maize, the bulk of which was sold prior to arrival. Tho Gisborne market remains firm at 2s 8d to 3s Bid f.0.b.5.i., with no Aucklandyet on the market. OATS. Aiter a lapse of some time the markets for oats are now showing signs of a slightly easier tendency, owing to the trade being so dead dining the past few weeks, as practically _ no bnsinoss has been done at the prices which wero quoted. Some of the merchants in consequence have lowered their idea of value by about id per bushel to induce business. In Duns and Algerians high prices continno to rule, as these two varieties aro in short supply, the quantity not being in the Dominion for tho season’s requirements. It is anticipated that _ in Algerians there will be a heavy spring sowing, and in consequence of this idea and the scarcity, prices remain firm. GENERAL FOODSTUFFS. Values for New Zealand flour remain unchanged. Importations of Australian flour are reported to being made into certain, parts of tho Dominion, as quotas tiona in Australia allow of the landed cost working out slightly beJfcw that of New Zealand. From 'the present firm attitude of holders of wheat, it would appear that the price of local flour will remain steady umless of course quotations for Commonwealth flour decline to such an extent as will allow of this market being swamped with imported. Bran remains unchanged, and oatmeal does not show any alteration on last prices. BUTTER. Various parts of New Zealand have reported an advance in tho price of butter, and it is estimated that as far as could be predicted tho present stocks of butter would be depleted, about tho middle of August, and it was anticipated, that tbo shortage wouold bo felt for about four weeks after, tho future the market depending on whether an early spring resulted. Sydney reported last week that tho demand for butter w’as heavy, with supplies short. The disparity between tho prices at Home and 120 s ruling om the spot in Sydney had checked exporting. Melbourne states that tho high prices had checked tbo demand. Brisbane merchants say they have never seen supplies fall away so rapidly. At the eamo time it was predicted any warmer weather would soon see au increase in the supply in South Australia, New South Wales and Queensland, and in the north, territory of Victoria. Best brands rulo <m a parity with Sydney butter, viz., la Id per lb. London cables a steady and firm market, due to hot weather in Europe, Danish rules at 115 to lids, choicest Australian 102 s to 10-1, unsaited

10Gs to 108 s, and secondary qualities 9fe Vo 08*. Uikllt date London. May ptlL vff-o markt-t lor that week is reported a* follows; —French is 8s lower; Danish, a* aiichaiiged, but other descriptions tend easier- Rains havo fallen in most locaiiUlv, and pastures have made oonsidora'crle pro'jreris; warmer weather, is o<.sirablc. increased supplies of home make, also from the Conunont, cause less attention to be ”ivcn to colonial, which has arrived in la:ye quantities. The demand has been stow this week, m some instance approaching to stagnation; gloomy views seem to be in the ascendant. French butter is in better de* a.and at tho drox>, and the prospect lavours larger supplies; at present these are small—extra nuid lUBa to U2s, best ordinary lo2s to HRs. secondary J)So to 100 s. Danish butter is arriving in this country in quantities which show only a small excess over the same period of last year, and trade has been on tho quiet oidc at loDa to 112 s; Copenhagen advices are unchanged. The quality of Siberian is very hue; in faxrt, in point of value thero is hardly anything on the market to beat it. Finest Sioerian realises 98a to IWte, iin-a 92* to 9fe, stored and common 7Rs to 9Us. Arrivals from Siberia, this week were -1023 casks. A few' moro Dutch creameries are coming, and prices rule at XOGs to 112 s. Irish is in quiet demand as follows;—Creameries ICAs to IDSs, factories 80s to 9Cs. Tho weather in 1 redand is rather cold and the season backward. Arrivals from Australia have been heavy, comprising tho Otranto with 12,936 boxes, tho Cube with 10,889 boxes, the Afccauias with 4843 boxes, and tho Suffolk with. 38,205 boxes. The Waiwera from New Zealand has arrived _with 135 boxeti, und tho Coiinthic with 17,200 boxes. Tho demand for colonial has been moat disappointing, anti values have denoted a weaker tendency. The quality of Now Zealand, is excellent, while Austraiian is good, although some stale parcels are offering from tho otheffr side ox cold stores, having been delayed in shipment through scarcity of freight, and are described as " toppy/' Finest Australian is saleable at 9Ss to 100 s, fine 92s to 90s, milled, etc., 7Gs to 90s, finest unsalted lOio to 106 s, secondary 9Cs to 102 s; finest New Zealand 106* to 108 s, fine ICKU to KMs, milled, etc., 74s to 90s. Shipments from Australia this week comprise the Omrah with 16,500 boxes, the Themistocles with 26,000 boxes, and the Ruapehu last week from New Zealand with, 400 boxes. CHEEoE. Cables from London this week report an unchanged market on the previous week’s prices, viz., 60s ’to 61a tor New Zealand. A firm tono is reported, A fortnight back tho market was quoted a-t 60s, wnich shows a rise in that short time of If- pei cwt. Locally the market is strong and supplies aro on the short side. GRAIN AND PEODUCE AMERICAN VISIBLE WHEAT SUPPLY LONDON* July 7. Tho American visible supplies of wheat and flour oast of the Rocky Mountains are estimated by “Brad»troot’s“ at the equivalent of 33,666,000 buaholfi of wheat, compared with 38 306,000 bushels on Juno 29th, and 23,901.000 bushels a year ago. SOUTHERN MARKETS. PBJ-8S ASSOCIXTIOH- % OAMARU. July 8, A little wheat has changed hands this week, but business is still slow, fanners n-dring higher prices than buyers axe prepared to give. For parcels at country etactions 3s 3d net has been paid, while sales cx store have been made at 3s sd, loss commission. Potatoes move off slowly, and values have declined, £5 net on trucks being the best price going. LITE STOCK SALES PETLDXNG. Dalgcty and Co., Ltd., report:—At Feilding on Friday we had a very good yarding of sheep and a medium entry of cattle. The former again mot a ready sale. Quotations : Sheep—Aged empty owes 3a 74, 6s 4d to 7s Od. s-m. empty owes 8s Id to S 3 Td, mixed age ewes in lamb 5a 6d to 6s 4d, B.m. ewes iu lamb Us lOd to 12s Id, four* six and f.f.m. Romney ewes in Jamb 14s lid, 2-tooth Romnoy -ewes in lamb to j6s od, small 2-tooth wethers to Us, led, small mixed lambs 6s to 7a, mixed lambs 7s 6d to 9,3, cwo lambs 12s 7d. prime fat lambs to 12s sd, prime tat wethers to 16s 7d. Cattle. —Store cows £2 to £3 4s, dairy woaner heiiem to £2, light fat cows'£s 15s, fat heifers £6 10s. WELLINGTON CUSTOMS. The Customs revenue and beer duty collectcd at Wellington lost week totalled respectively £21,443 18s 6d and £205 4a. Saturday's Customs revenue received ,at Wellington amounted to £I9OO 19s 2d.