Shares and Mining

Observer, Volume XXIX, Issue 41, 26 June 1909, Page 20

Shares and Mining

jßy Übadiah.

'* llJil speech delivered uy Mr I xiaioia lieaucnanip, Unairnian 01 jjneooors 01 uio oaiiK oi i\ew Ziealanu, at one annual meeting 01 snarenoiuers, was vaiuame in many respects. ju.e uealt very luiiy wiou one prevailing contu turns, iuianciui auu ooinnieidal, anu snuweu. conciusiveiy mat mv uopi;obc>ioij., kuoju as lo was, us 1100 uoany a-s baa as sniuiar uopiDstsiuiib 111 yuah ycaro. xnau wni uo auiiut/oou uy an vvxio arc 111 a position to comparo tilt; respective couUitious.

The review oi the produce markets was reasonaDie anu luir and rigno uouucoions were maue. j.ne conuinutsU improvemunu oi tne wool niariieo as wen caicuiawxi uj restore evnnueucc. xne oorrowiny, in Jjonuou. uy local Uodies nas neiped Vo oabe bue situation, uy going to .Liuiulon Liioy nave avoiueu oxtjcuiuiny, tuo locui money niariieo,- wnicu ouulu ill (spare tne lunas required L»y tne local Uouies 3 and uy wringing nioney uoii Jjonuon lresn capital nao Ueen auued U) tne resources oi tno country.

Mr Ueauchainp was able to show that a world- Wiuo traue improvement is now noticeauie. in bleat witam one smp-uuiiding lnuusuy, wnien i» une main muusuy oi tue country, 10 again active, pruv'iuin'g worii iur a gioat nunioer vi wuitus. in .America unere us soiiu ev.iu.ouce oi a cuange ior tne Oetter. xntoe inipiovemen^a aie sure xo multiply, ana cue woria Will again experience a period oi prosperity .

Ihe report ol the Wailu Gold Mining \juinyiULy lor Uio year enued x»eceinuor oxst, ll»Ub, stauea tliat uuiung tne year b^JjZl'i urns oi ore woru U - eaoeu, and tne goia and silver reansea ijho\j,o±±. xnis amounu, oogetner witn ±; I JO2»J lor lnDeresu, niaiies the total revenue receiveu x,V6V,0'64:. me expeiiuiture in iNew aoid jjonuon, liiciuuing ueveiopment worli at tlie mine, amounteu to £3ai,3t;^, leaving a groiss pront lor tne year ol ±;yoo,lO:i, as conipai^ea witn i;uau,9xU in luu*, an increase of £.Zi } '4'6U.

This sum, 'added to £22,105 brouglit lorward, gives a total ol 3Jb&U,%9i(. Uut ol tints the directors iiave provided £41, 0il lor new plant ana machinery, as against £03,299 last year, ana have written oil: lU per cent, ior depreciation ol plant and machinery, amounting to £36,374, as against/ £35,012 last year. The' four dividends already paid absorbed £371,1>1i0; as against £3^2, 33y in. the previous year. Tiio sum of £32,537 has been reserved i'oi" income tax in London and JNew Zealand in. respect of the year 190S, as against £31,893 in 1907.

After these appropriations, the balance remaining to the credit of revenue account at December 31st was £97,943, which the directors recommend should ue applied as follows : — To payment of bonus of tis per share, £45,590 ; to be carried forward, £28,353. The bonus now recommended makes a total distribution »f 17s per share in respect of the year 1908, as against 10s per share in 1907.

The report of the Liverpool and London and Globe Insurance Company for the year 1908 states that the lire premium income, after duductipg the Bums paid, for re-insuring surplus risks, amounts to £2,603,864. The net losses, inclusive of full provision for all claims that had arisen up to the close of the year, amount $o £1^399,765— 68.76 per cent, of

the pr-einiuni income. The accounts, a-iter providing tor expenses, show, i without the addition of interest, a 'surplus oi £300,109, of Avhich £40,000 has been leit in the fir© ac- i count to increase the amount of re^ i serves for unexpired risks. The balance has been carried forward to profit and loss account. The premium income for the year . iroui tiio accident department, alter deducting the sums paid lor re-in-Kuring surplus risJis, amounts to 3jVA,'6ob. The net claims, inclusive of lull provision lor those that had arisen Delore the close ol the year, amount to £30,yt)4 (32. U2 per cent.>. ihe account, alter pi^oviding lor expenses, shows a surplus ol £154,813, oi vhich £10,000 has been lelt in the accident account to increase the amount of the reserve lund. Tlie pront and loss account, with the addition ol lire and accident, prolits, and ol tne interest earned on the funds other than those oi the liie and accident departments, shows a balance of £l,Obo,fcSub.

The annual report of tne Devonport Steam it'arry Company shows a healtny conuition ol all' airs. The net proiit lor the year, alter adding £oUU to insurance account, £3oU to reserve fund, and making allowance lor depreciation, was £4;4i(J liSs Yd, which, with the balance brought forward last year (.ilu'Ub-A Us od), makes a total oi i:iU,Z/4 14s. An interim dividend was paid in December last lor the hall-year ending October 31, liJUa, absorbing Ji^UUU, leaving an available balance at elate ol £Bi2f4 lit;. This the directors recommend should be disposed ol by payment ol a dividend tor the hall-year ending April bU, 19(jy, at the rate oi 1U per cent, per annum, absorbing £2UUU, and the balance (,£b2v4 14s; is to be carried, forward.

Investment stocks have seen a fail 1 amount ol business during th-e week. Bank of ISew Zealands continue firm on the strength oi the strong position disclosed at the anuuai meeting. Thoro have been sales at iJb) 4s and. £D os, and buyers are still inquiring at about these hgures. are asked lor at £5 ?s, but the lowest soiling quotation is £o 9s 6d.

In insurance stocks, New Zealands have been done at 70s and 77s 9d and buyers otter 77s 3d. South British have hardened to sales at 51s, and can be placed at 50s.

.Now Zealand aiidltivor Plate have been sold at 3Gs, and this is the present buying quotation.

Auckland Gias havo again been quitted during the week at the even hguro of £15, and buyers still offer £14 17s 6'd. Sales of Uisborne Gas at 525.

Auckland Tramway ordinaries have been done at 225, and both ordinaries and preierontials aro steady, with buyers at 21k 6d and 22s 3d respectively.

Taupiri Coals maintain their recent strength, and have, sold at 20s 3d. Westport Coals have been in the inarkot with sales at £6 9s 6d.

Other sales have been : Union Steam at 35s ; Northern Steam at 6s 2d for oontributings and paid-ups at 12s 3d ; Devonport Ferry, 29s 6d ; Northern Boot at 10s 6d ; N.Z. Portland Cement, old issue, 40s 3d ; Wilson's Portland, ordinary, 395.

Scrip transactions, particularly in Thames mines, continue brisk. The Deep Levels scheme has not yet reached finality. There is still hope.

Bonanzas reached 7d this week, and Dixon's Consolidated, after reaching lid, came back to 9d. I like the latter for a rise within a few weeks.

May Queens saw a sharp rise to 3s 6d, and dropped back to 3s 3d again. They may see 3s this week, but are pretty safe for higher money before long.

New Monowai came to- light during the week. Market price Bd. • •■•••... ,New Sylvia is the firmest Thames stock on the market^ and one of the safest, for a rise later on. Price for the last few days, 2s 9d and 2s lOd. • • ■ There are fresh developments in the Thames mine, and anything is possible. Sales up to lOd.

Waiotahis went up to 3s lOd on a rumour that there was a big improvement in the mine. There was nothing to warrant the rise, and shares are now at 3s 2d.

Waitangis are at 4s, and Watchmans at 2e. The 'former is looking a little better.

The Karaugahake mines are quiet. Tho Dominion looks like coming along —country people are buying. The Karangahako mine itself is Id bettor — sales Is Id.

Crowns maintain their improvement. Sales and market, 6s.

At Waihi, the Consolidateds hold firm at about ss. Junctions are easier — sellers 455, buyers 44s 9d. They look weak, but axe not likely to iecede much.

Waihi Beach should be good for a rise when the water is out. Sales 9d. • • •

AVaihi Extended are having trouble in finding No. 2 lode at No. 5 level, but if the big body of stone cut a few weeks ago proves to be the Martha reef they can afford to do without No. 1. Sales 6s Bd.

■■■•■•■.. . . vv- ; : J/' "-. n - :< vv. '■s.ii^.y.. ■■■ Veteran comedian Howard Venioii and his wife (Vinia de Editte) haye \< sailed for England. ' , . . •- • •.• , . .■•..'-■''. Walter Bentley has been engaged by J. & Williamson to take the part of Wilfred Denver in •• The i Silver King" at the revival of that play at Adelaide. Henry Kolker, who- ha^ .'■ been playing the part hitherto', has accepted a lucrative engagement to star in America, and leaves for the States in a few weeks' time. ■• . ■ It is reported with absolute definite*. ness that Miss Addie Williams, of the Four Kosebuds, is to be married shortly to Mr Harry Rochfort, of Rochfort and Hart, singers, and once a member of the old Pollard Opera Company. -Miss Williams was a member of Pollard's, and later was . with ■ George Stephenson's Musical Comedy Company. • • .• ' A new drama, •« Via Wireless," which has been running to crowded audiences at the Liberty Theatre, New York, has been acquired for Australia by the J. C. Williamson firm. The leading episode in the rescue of a shipwrecked party by an ocean liner, after the news of the wreck has reached the steamer by wireless telegraphy.

There was a sound of agony by night Of sneezing, wheezing, groaning, and of tears ; It woke adjacent slumberers in a fright, And maue them quake with superstitious feara; Yet 'twas no spook that rent the midnight air. Or ghost, or goblin 'scaped from sepulchre, Twas only Binks, declaiming in despair— His cold was worse, and he'd no WoodsPeppermint Cure.