SHARES AND MINING

Observer, Volume XXXII, Issue 24, 24 February 1912, Page 20

SHARES AND MINING

£y ObADIAB

THE Xoncton money market is sure to ease further very soon, iudoine by the figures of the Zl ha Sen a turn for «» was last week 3* per .cent and it tSs to show that the leaders, an peace is assured.

There will be a trade boom this veai and Great Britain in particustrike. Labour troubles have caused more mischief than enough, arm, Sb public generally took Sme serious prices ot commodities are still lugu.

The Standard Insurance Company experienced a very prosperous time fn 1911, for the underwriting proftt was equal to 12.66 percent, ot toe premium income, wmch was anex oellent performance. lhe net pie mium income totalled £80, <W, the losses, including appropriations >J™ ninpaid and unadjusted losses teaming the underwriting .profit at •±?10 2*o, The total balance at credit of the Standard insurance Company at the end of the year was £2M49, made up of underwriting profit £10,220, interest on jvg ments £8280, transfer fees £1/, ana brought forward from previous year £7396. Out of the total, £10,000 £as been added to the reserveund, which will now stand at £90,000. The dividend at the rate of 8 per cent and the bonus of 6d per chare SgethTr absorb £8500, leaving £?1>49 to be carried forward. ft <»

The Brunner Colleries, Limited, has been registered in London for SI purpose tof ..taKaH oy«J .and working the two .coal mines at pre2Lnt existing on the Brunner neldthe Tyneside Proprietary and the North Brunner. It is somewhat remarkable that English investors Sould find money fo? coal venturer, S view of their own experience in Grdat Britarn with labour troubles. In the case under review, it is very probable that those connected S the North Brunner ComptnyT and their friends, have found the necessary capital.

We can't have too many operating coal mines in New Zealand, as we do not seem to mine sufficient coal for domestic purposes, and yet we ought to be large exporters, and for this very reason it i» to b* hop«d that the Paparoa Coal Company will

be able to reconstruct on the lines suggested in the circular to shareholders and debenture holders The company is seeking to obtain £50,000 additional capital, and tihe scheme .ot reconstruction/outlined, while adverse to the interests of the ordinal y shareholders, who are asked to submit to having half their paid-up capital written off, is nevertheless as fair as can be made, considering all the interests involved. biven tair conditions, the should be able to turn out of steam coaL ' ■ :.v.C£E' : ■''■' "• ■ • The produce'markets do not call for much comment this week, me wool market doe's not appear to be as strong as it-was, -as the quotations for the lower counts of Bradford tops have declined. Butter and cheese, however, are still very high in price in London, and one dreads to think what the factories will have the effrontery to charge local consumers in the winter months, frozen meat is'also better, but in view of the short shipments that must be the result of the present strike in Wellington, prices will have to advance very much if there is to be. any compensation for the shortage. Hemp is at a fair price, that is to say, the millers can handle the product at a profit. »• • • Buyers have raised offers for Bank of New Zealand shares to> £10 15s, but sellers are asking £11 7s 6d. • • • New Zealand Insurance shares are down to 955, buyers offering 945. 9 P * Sales of National Bank have been made at £5 15s in Wellington and Dunedin, local buyers ottering ho 15s 6d. • No sales. • • • Portland Cements are at 32s sellers. . " ' ■ .:;■'■■'■ ■■. •• • • '■-■ Business in Auckland Tramways, "preferential, has been done at 23s 6d. ■ . - '

Buyers are offering £1 6s 6d for Weetporf Coal shares, sellers are asking Is more. • - '. • *" 'Wheat and oats are in good - demand, but there is a scarcity, owing to broken weather in the South island. "The market is likely to be easier shortly. c c ■ The market for Kauri gum is dull. • • * Chaff is getting easier. Local is selling at £4 15s, and Southern at £5 10s. c * * The market is about normal. Thames shares are all at low prices, and a buyer would not take much risk at the present time in getting any of the Deep Levels shares. ■• • • May Queens are quiet at Is sd. There will be a quick lift when the •Bright Smile reef comes to liana. * • » Saxons are dead at Is, but not dear at. the money. Waiotahi shares sold down to 3s 3d, and have now steadied at buyers 3s 4d, sellers 3s fid. The Deep Levels crosscut should hold these shares at. 3s 4d .'until the ground is further proved. .'"•■* a ■ * Waitangis have fallen back to 2s H, and Watchmans to Is lOd. • " ■• " Junctions moved along* to. 29s on Tuesday. The Royal will be to hand next month, when shares are safe for higher money.

Waihis are also stronger, buyers offering 44s 6d, and sales at 44s 9d. Crowns cold down to 3s 3d, and up to 3* 7d again, and Talismans are quiet but steady at 635.