THE SHARE MARKET.

Dominion, Volume 1, Issue 19, 17 October 1907, Page 9

THE SHARE MARKET.

The market'is quiet, and likely ta remain to this week, because of the Races, and later en the Show at Palmerston and the Itaces at ChristchUreh will be disturbing factors. On'''Change'...yesterday brokors' were able to report'two salesi'' one each in investment ana mining stocks.,, Wellirigton Meat Export shares, third issue, liad'quittarico at which price the., return to the. investor -is equal te £S 7s.' 3d.' : .perVc6nt:" But three mouths ot the dividend period'have expired, consequently the return will wo'rk'out a littlobetter than stated above. There'were 7 'a few niore buying .orders disclosed yesterday than'.the day before, still there is exceedingquietness.: There .were bids for National "Bank 1 shares' at J!5 Bs.; Gear Meat, : -i7s.;'-Mo'at:.BxpOrt,: third -issue, ss. 6d.; Kaiiri Timber, 15s:} paid up, at Bs. 3d.; New Zealand- Portland - Cement at 30s. Gd.; "New Zealand Times," preference, at 225.; and Wellington Opera House atJ3slos. There was no business offering for any .of the shares in tho financial - group, but; sellers were available, offering to transfer Equitable Building at. .£lO 55., Wellington .Deposit at 10s„ and National Mortgage at J33 os.' Sellers of other stocks quoted ISs.v for Feilding Gas, .£2o, J2IC, and £3 7s. Gd. for the fespfcetive issues of Napier Gas; 12s. for Manawatu Bails, 18s. for Wellington Steam Ferry, £3 for Mosgiel Woollen, Bs. for Westport-Stockton; Coal, and 235. for D.I.C. Preference. ' '' '4' In the mining section there was a sale of Old' Hauraki at Is. Bd. Talismans were in demand at\£2'ss. 3d., sellers asking £2 ss. 9d.,while. Waihis were again offered at _£». ss.; Kuranuis were in fequest at Is. id.,- and' Ngatiawas at Is. 7d., with sellers of the latter at Is. 9d. Now Zealand . Crown shares ww on offer at.7s: 3d. ..." ... ; . TURIKINA FIRE. . • ' The general average in connection with the fire aboard the s.s. .Turakina is to be struck in London, :where ,the : ;:adjustment ;is to be made, and it is stated 'that 50 per cent, demand will be made at the outset. The estimated approximate value of the vessel and cargo-is as under:— "■ Damaged cargo ... ... .£114,868 , . Undamaged cargo ... .;,... • 71,383 • Bullion — — .Value of vessel ... ' , 150,000 • - ' '■ .£38.1,991 It is also stated that the cargo.:of damaged butter is to be sent to London, but under ' proper safeguards. The - boxes have been cleaned and dried, and will be stamped by the Government'to indicate that the contents been damaged through the fire. ; ' STOCK EXCHANGE. [BY TELEGRAPH.—PRESS ASSOCIATiJS.] -.- : Dunedin, October 16. - Stock Exchange sale:—Ngatiaw.a, Is. 7d. NEW ZEALAND INSURANCE COMPANY. bt telegraph—press association— copyright. - v - ' Brisbane, . October ; 10. The New Zealand Insurance Company haspurchased:a 00ft. block-in Queen.Street,at the i rate:-of ,£250 per foot, and,.intends to erect offices. LONDON MARKETS. BT TELEGRAPH—PRESS ASSOCIATION —COPYRIGHT. London, October'ls. , Coppcr-On spot, £60 10s.; three months, - JESS" 10s.' ' '' ' Tin.—On spot, ,£139; three months, '£137 10s. Lead, JBI9. Silver, 28} d; Heavy bear sales are depressing th'.' silver market. • Iron, 535. 9d. Wheat—Very strong. English is quoted at 3s. and foreign at Is. 6d. to 2s. dearer on the week. LIVE STOCK.MARKETS. . Dukedin,. October 16.. ' : At Burnside stock market to-day, 2281 sheep were penned, but the' quality was not up to the usual standard, only a few pens of really prime being forward. For prime sheep, prices were firm at late rates, but backward sorts wcrj slightly easier. Best wethers made 245. to 25s • extra, to 295.; medium to good, 21s. 6d. to 225. 6d.; inferior, 19s. to 205.; best ewes, 20s. to 225. fid.; medium, 17s. to 18s.; inferior, 46 were penned, the majority selling up to 225..Gd., while.several small lambs sold : at Cattie:-23l"were yarded. "There was a. large yarding 'of - unfinished cattle, and;, prices were easier than last week. Prime bullocks were, however"; a shado-firmer. Best bullocks ■ made £11 to ill 155.; extra, to <£12 17s. Gd.; riieaium, £) '10s. -to• JBlo,'-10».i best',cows and heifers, M • 10?; to '10s:;'extra, to. .£ll 10s. Pigs.—About 100 were'yarded—a small entry conipi'ised' principally of porkers and;, baconers, •for small pigs: priccs -were slightly easier, while large, pigs sold " firmly. at last week's values. Suckers made 13s. Gd. to. 16o.; L slips, 17s. Gd." t0.195.; stores) 225. to 285.; porkers, 355. to 435.; light ..baconem, 48s. to: .535.; heavy baconers, 575, : to 655. . STOCK SALES. ■ Abraham and Williams, Limited, report as follow on'their. Masterton stock sale, held yesterday ,:—There T.'as a. small entry , of both sheep .and cattle../i'ho enquiry for sheep was good,, ft being'made; The cattle yarded 'were for! the. most part' rough sorts, and 'bidding ;viiß slack.. We quote :—Sheep. —Hoggets (best); 19s. Id., others, 16s. 4d.; ewes and lainbs; lGs. 4<l. to 205.-; empty ewes, 12s. 9d. to lis. 6d. CVttlo.—- Fat bullocks,, J2B to :£B 135.; fat cows, jJ6,175.; two-year steers, J!3 Is.; empty helfprs, ,<£2 to 15a." Pigs — Weaners, 335.' Gd.; stows, 19s. 6d. to 21s. 6d. customs returns: . Tlie. Customs rettu-nii at Wellington yesterday amounted to J32515 16s. lid. , THE WAIHI MINE. . [from our own correspondents.] , ' Auckland, October 10. The Waihi correspondent of the "Herald'' reports that devebpment works in progress al the: No. B'official'level of the Waihi Mine (fre-quently-referred-to as No. 9) continue to ad< to the .'already, extensive ore reserves in sight '< Perhaps tile lnost important work here is tin - opening up of the Welcome Lode, west of No

! shaft, where the ore body has shown widths if. upwards of 100 ft., with dirt of payable jrade right, across. Those workings are lirectly under the point' where immense bodies )f quartz, carrying payable values were ipened up at the level above, and as the vertiial depth between the two levels is 150 ft., it Mil be seen that a huge block has been repealed for future stoping operations. The Edward Reef, which runs north and soiith md junctions with the Welcome, has, within ;ho past week .or two, been by a irosscut from the Empire Lode at a distinct >f SGOft. west of No. i shaft. Here no less hail 20ft. of sulphide ore is exposed, wlncl; s certainly one of the most gratifying dis :overies "made for some tinio past. On the lorth section of the parent reef (the Martha), levelopment' work is being vigorously pushed 'orward, artd in from 2Qoft. to 300 ft. ot drivng, the east drive will be connected with the vest drive now in progress, from the No. i iliaft crosscut. The face of the north driv; sast' of No.. 6 shaft crosscut is in sulphide ore, fhe Koyal Lode has been driven upon foi iver 1400 ft. at this level, the ore body varyng in. width from 10ft. to 20ft., while at th< evel above (No. 7), the same reef has 'beei sxposed for upwards of 1700 ft., the drive laving been carried 50ft. west of the Edward jode junction. .At both levels , the western aces of, the drives are penetrating ore of payiblo quality, aitd the operations mentioned rnvo disclosed very extensive blocks of dirt ill of, which will be taken out and 6ent tc ,h'o battery for treatment. The preparatory vork, with a view to stoping, is now in pro;ress. . The main shaft for the No. 9, or 1000 ft. evel, is down the required distance, and the Hitting out of the. plunger chamber for the nstallation of the third or C. puinp plungei s well in .hand. The .foundations for the >ump ar6 in..position, and although the initallation of the. machinery will entail .coilliderable. work and time, a start should be nade early in. the : coming year to exploit the ■Jo. 9; level, where, the first ore body to come o -hand will be the main Koyal Reef; . NOTES. . ' , Official returns of the trade of the Comnonwealth for .August' show that there has oeen some falling off both in regard to imports and to exports as against last year. . And it is contended that if the dry weather continues and the tariff debate is much more proonged there will be a still further falling iff. ■ : ' According to the "Brisbane Courier" the Queensland Government has foreclosed on the Jharlcville Refrigerating Company's meat works, under, the Meat and Dairy Board Act, It is stated that the company had been warned several tiines 1 regarding overdue instalments, Mid cautioned that unless payment were made by September'3o foreclosure would result. As the overdue instalments, it is stated, were not paid, a surveyor was sent from the department to take possession on September 30. The latest thing in the way of trusts in America is a corset combine among the foui ;reat manufacturing concerns of the United States, which turn out 200,000,000 corsets a fear., ■ . ". A recent Board of Trade return shows that for the five months ended May, the United Kingdom led the United States as an exporter by 55,284,000, and that, the British total was inly -.£4,000,000 short of the aggregates-exports •oportcd ;by Trance, Austria-Hungary, and Belgium. The Uniteel Kingdom's import'trade ,ras JC103,019,000 ahead of America's and £130,505,000 more than that of France. For ;he six months ended June the British lead in exports over the! United States was still jreater than for the five months ended May— lamely, .£lß,3o2,ooo—and ,£40,767,000 in excess if the German total. Germany was jehind the United Kingdom, the United States £120,078,000, and Franco <£53,051,p00. , "Commenting upon the dried fruit market, ;lie ."Produce Markets Review" (August 24] jays :—"From the moment when tlio value of ;urrants .from the dietetic point of view began to be fully recognised, and now that theii importance in connection with wine-making tuj distillation has again come into promin;nce, the question of keeping the price within reasonable limits has arisen, and the time is possibly not far distant when the present restrictions in respect to retention and' cultivation may have to be relaxed. In point of fact, the new, law passed by the Greek Parliament is in the-direction of regulating tho distribution between the requirements foi jrccery purposes and distillation, in suoh a manner that neither shall suffer, a very ingenious arrangement having been arrived at whereby, after a certain proportion of the crop has been shipped, any stringency consequent on shortage of supplies, or abnormal increase of' demand, shall be automatically relieved-by relaxation of the hitherto strictly imposed'retention laws; that is to say, that in such events the grower, if it suits, his purpose, may pay his contribution in money, instead of handing over the actual fruit. During the week telegrams from Smyrna have reported torrential rains and considerable damage tc the growing crop; of sultanas/ 1