FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 62, 6 December 1907, Page 10

FINANCE AND COMMERCE.

:■'',■'.. THE. SHAKE , MARKET. , : - -. ■■ ~ .' _ A very fair, amount of business was .done i: f ,; investment shares, yesterday. Wellington Ga l : changed hands at ,£lB 15s.'and £9 7s. 6d., an •■'■'. i the freedom with which these shares have sol •;. during the past few weeks leads to the suj i position that at the annual meeting of th CWpany early in the New Year the director ;'.■•".■.■•" , will propose' ftr readjustment, of the capita] i". ' which may involve calling up.the balance o ■ ' tlie unpaid capital., This may have the eitec ;.." ■ " ?i weakening-the'shares, and holders are sell I , ing now, and many of, them,- will probabl, :■'. buy back when .the fall, if any, takes place '■■;.■' ' Now Zealand Shipping at ,£6 ss, ;.' 'yielding to the investor .£6 Bs.'per cent. Tara ■■'■ ' naki Petroleuin shares had quittance at Bs, and holders are r now-asking 10s. These share ': ■' -are.very much of ■'& gamble, but with the:mor , , favourable indications of the past week ortwi : they will, be regarded as a very fair specula i tion by many. What the shares will advanc ;"' to in the event of-the. Company striking :-.oi ; ;. . it is difficult to;say, but that they will go.wel ; ■' ~- above the present quotation is obvious. . ':■:■,■ i. ~ ■ In bank shares*',there was nothing'• doing !''" ; ' , New Zealands wore'wanted at j>9 15s'. , ,•wjiili Nationals were on'-'sille at ,£5 Ss. 6d.' Insufahci • shares were steady'and'unchanged,'with buyer, i ' : , of Nationals at 265".'9 d;, and. Standards , ..at 22s Financial shares /were neglected. : /There. , , weri >.. sellers of Wellington Investment at 12s;- 3dJ and of Wellington, Deposit at 10s. In the gai ■*~-• ' section there was' more inquiry.. Palinerstoi ;- ;, Gas 6hares were in demand at .£7.25.. 6d., am Feilding Gas at lCs. 9d., and there were seller! of Christchurch Gas at ,£lO 2s. 6d., and Napiei ; Gas at and .£ls 10s. for the re'spectivi ■; ■ ■ • issues. There was no variation'in meat shares Christchurch wore in request at .£lO ids.', an( ! : : Gear Meat at 495., with sellers of the lattei ;.:■ at ,£2,125. Meat Export shares, ,£5 paid up ;.' were on sale at .£6 15s. Transport' shares wen ; -again in firm demand,, with bids of M 2s. 6d • for Jlanawatu Rails, .£6 6s. for New Zealanc ; Shipping, and .£2O. ss. for Union Steam; tin ;- letter show a distinct hardening tendency. Iγ •' '.- the miscellaneous section there were buyers o; ;■;■ Donaghy Eope' and Twino shares at £h Us. , ['• New Zealand Drugs at 505., New Zealanc v ■ Paper Mills at 235., Leyland-O'Brien Timbei !-■:•. at £2 is. 9d., sellers £2 55..9 d.; and Welling 1.■.-.; ton Opera House at £6 10s., sellors £7 5s •-.■ There were.also sellers of D.I.C. preference ' ; . ' at 225. 9d.,' Sharland's ordinary at 195., anc '■■•■ Taranaki Petroleum at 10s. I '. . THE MINING MARKET. . /■ ;'. •....' The market was not so active"as usual.' Busi- (. ' ness was done ih'Ngatiawa at Is. _10d., and ;" ; ;'.■' Waihi Consolidated at 25.. A syndicate has :■ . the option over the Waihi Consolidated claim, • ; and,: as the syndicate has spent a conside'rable : . amount in prospecting. work, it is general!} ;■■ ,- believed that the opjtion,- which expires at the :' ■ ■ end of this month, will not be allowed to, lapse, ■'. '. If-'tne syndicate secures the property it ie t ':■■-'.' expected the scrip will advance to 3s. or 45., : hence the speculation. .The.state of the min- ;• '■ ing market yesterday is disclosed'in the fol- ;. ', lowing table: —. ■ ■ ' •,'' .... y- ; ■Buyers. Sellers. Sales. ■ ■ • £ s.d. ■ £ s. d. ■■■'■£ s. d, ! . Talisman ... ... 2 13 3 2 13 9 — ■'■■ , Waihi 8 4 C. 8 6, 0 - ■Waihi Consolidated 0 1 10 • — 0 2' C !•• Ngatiawa — ' 0 1 .9 0 110 Komata Reefs ...: 0 18 — — ' Ku'raniri Caledonian 0 10 0 12 — May Queen, Ltd. ... 0 1 i 0 1 6 — :•■ ' • Waiotahi ..... ... — 0 3 0 — . -..'■■'... • WOOL SALES. , The Wellington woolbrokers will hold their second sale of the season in the Concert Room of the Town Hall,.at 9.o'clock this morning, ; when the following catalogues , will bo sub- :•■'•■ mitted:— ' ' . / . . ' '■' . Bales. ,' , Dalgety and Co., litd. .'. 1935 Levin and Co., Ltd , . ... ... ... 1218 Loan and Mercantile ... 1211 Murray, Roberts, and Co. 795 ■ • , . Abraham and Williams 4G!) United Farmers 370 ■'-.■■■ .Wairarnpa Tanners 17 ':"[ ■ . . :•">■,. , 6015 As previously stated, prices are expected to . . rule on a par with the November sales, and if there,is any change at all it will be against ■ growers. ' . " i COMMONWEALTH WHEAT. ! •:. While the chairman of the Bank of New South Wales does not think Australia as a , I whole will havo any wheat for export, the Melbourne "Age" considors .that the quantity available for oversea shipment in the coming season will be not less than. 15,000,000 bushels, or not quite 2,000,000 quarters. Our Australian contemporary writes:—The-improvement in the agricultural outlook?is the most important in.-. ■ cident of tho'week. The position in this Stato '; has already been discussed,. and . now the situation of the wheat crop in South Australia is reviewed at longth in the .Adelaide "Register." The ■•.''. preharvest estimate just published by that journal , 'indicates a yield of wheat for the current Beaoon of 17,112,500 bushels, giving an exportable surplus of 13,500,000 bushels. To this may be added approximately' 4,000,000 bushels in Victoria and 1,500,000 bushels in Western Australia, being estimated production in excess of local requirements. In the aggregate there -appears to be. 19,000,000 bushels availablo to supply the demands of Now South Wales, Queensland, and Tasmania, without taking into account the quantity of wheat and flour on hand from last season, considered to bo equal to at least 5,000,000 bushels of wheat. There ,' must havo been considerable improvement in New South Wales since the first crop estimate of about 0,000,000 bushels was issued, and it • is possible that the actual .yield in that State will fall very little short of local requirements. On this basis it seems not unreasonable to expect that Australia; will have at least .15,000,000 bushels to spaTe for oversea buyers of wheat and (lour. Our trade in the latter product should, therefore, be retained, if not.extended, with Eastern nations, a matter of vital importance to growers, as it ensures competition for liis grain between tho miller and tho wheat shipper.. ' ; NOTES. The half-yearly meeting of the shareholders of the Bank of New Zealand will bo held at ■ 11 o'clock this morning. Tho wool sales commence at 9 o'clock this morning, in tho Concert Room of the Town Hall. About GOl5 bales will be submitted. The value of Argentine exports for the nine months ended September . 30 amounted to.

'■:■• or A 249.400 in';pxcess'of the total in ' or tno corresponding period of last year. as . , '.■-.■ •:".'•:.• ad The Queensland Insurance Company made a Id net .profit of .£20,260 for, the'•■ye^r.'ended Sepp- tember 30. The premium incomosfor the vear he was- .6160,030, and tho losses:.-.£53,052, and* the ,rs reinsurances and return premiums to .£61,877. 11, ■ ' ■.........";. ' r •■-■. 1 ■"..'■-,. of 'The "reserve fund of the .Queensland Insu'r■ct ance Company is now £75,000, jtuul the invest--1- ments include Government .securities, ,£36,500; ly and. fixed ■ deposits, iW,072. ; . .'■ ... je. . ' ■ , '. ..'v ''. S '' , Tl'e capital and reserve of the-joint stock '> banks and private 'banks that publish accounts s -> in England, Scotland, and' Ireland'' totalled j* c£132,539,000, at .the end .of, June last. n . -It is reported;thftt the will purchase for delivery during tho next five ji.-years 900.. locomotives, 19,000 freight • waggons .{ 1000 passenger and.vfiTo' : .st6amships. ',- •' Ife is: also .stated; that. the- Russian-/ Government . ■ :will buy for 1908. delivery 810-locomotives,'U;soo j>; freight .waggons, 'anda large '.number of passen.j ger carriages. • ~; ■. ■■■■' •. .■•■■ v _-,v-..;■•; -.. , !s .. ; 'The total of the 'estimatdtftleposits and currontaccount balances:. held'ih r the United Kingr : dom by all banks, including the-Biink of Eng.land, is approximately ,£900,000,000. id fThe principal items in the exports of Argenrs 'tine, for the njno months to.September 30 last, alr were:—97,3l4 tons frozen beef, 49,303 tons frore zen mutton, 56,517 tons hides,, 106,071 tons wool s- 22,438 tons fat, 720,668 tons linseed, 979,876 tons 1( ] maize, 33,630 tons-hay, 2,557,148 tons wheat ;r and 119,292 tons oats. Pi ' ' \' ~ * ■ ■ ; ■ re • -At the Gisborne wool- sales, held yesterday [1. not a bale of wool changed hands. Tho id highest price offered for fleece crossbred was 10 oevenpence. n - ——, . ■....■' t •.■''. . ■/■■ MINING. ,~. id The following ■ cablegram has been • received :r by the Wellington Stock Exchango from pr- Messrs. ,Gibbs, Bright and Co., under date s. December s:—Please inform the Press that ;e we have received a cable from the Sulphide d Corporation stating that t'ho ■ directors will recommend at the annual meeting to held on December 18 a dividend of 10 per. cent, on the preference shares,, payable on December 24 — Gibbs Bright. ' LIVE STOCK SALES. PALMERSTON NORTH. - .y The New Zealand Loan • and Mercantile ie Agency Co., Ltd., report as follows:—At.Pal--8., merston on Thursday we had' a good yarding is , of cattle, but only two pons, of sheep camo rj forward. Although several-lines were passed i. in- at auction we wero successful in placing I_. tho bulk of our entry at satisfactory prices. .. We quote:—Sheep—2-tooth'owes. ,17s. Cattl&.forward, 3-year heifers, .£3 .Is;. Cd. to 8s ; j. cows with calves, £2 15s. to ,£3 ;• store cows', £2 ':. to £2 11s.; fat cows, ss. to £i 135.; vearling steers, .£2; 3-year bullocks,' £5 I2s/Cd.: 0 forward bullocks, £6 ss. .0 ' ' '.. ' "~~ . - '■ Messrs. Dalgety and Co., Ltd., report:—At our Pfilmerston, sale to-day we had an exceptionally good yarding of cattle, and a good entry, of sheep. There was a keen demand for yearling to - : 18-months steers,-- also for empty and empty cows.- 18-20-months steers made .£3 7s.;' yearling-steers, medium r sorts, £2 9s. (id.; yearling steers, culls, 245.; „. cows with ; calves, 435.; small heifers with , calves, 405.; empty cows, .£2 ss. 6d.; forward j; heifers, 11s.; small springing, heifers, 515.; IS-month to 2-year empty heifers,-: £2'lss • bulls, Ms. .to 435.; 15-month to , 2-year ■' empty heifers, 315.; 3-year bullocks,. £5 75.• 6d. Our .entry of sheen consisted of wethers, ewes, and lambs. Mixed aged ewes, with lambs at foot, -made 255. to 255. 3d. ■ i , . Dalgety and. Company, ■ Limited, hold thoir fortnightly sale at the Upper Hutt yards on Thursday.- The number of sheep, camo up to the numbor advortisod, but entries of cattle 0 were small. There-was,a fair attendance of :1 buyers, and all lines found • purchapors. t The condition of the store sheep was backward, which accounts for the apparently low prices. 4 and 6-tooth wetheßS sold at'lss. 7d.; 12s: 6d.; aged ewes, 10s.; store lambs, Bs.; fat ewes nnd lambs (all counted), equal proporv tions, 14s. 6d.;-store cows, 525. to 635.; yearling a. steers, 495.; springing cows, 605.-.to 655.';'2-year e heifors, Us.; yearling heifbrs, 315.; aged hack y horses, .£1 ss. to ,£3 : 2s, 6d. \ g . ■ , ■' 1 ' ' ' ■ LONDON MARKETS. ~ • "'■•■■ -METALS. ~■■'-•. , -- f ... . .[ . London, December 4. i . Copper.—On spot, .£6l 55.; three months, ,£62 i Tin.—On spot, ,£135 55.; three months, ,£134. !- ..-Lead.—JEls 15s.' ~V 1 Silver.—2s. 2Jd. oz. i D " . • WOOL, WHEAT,:.AND TALLOW. e At the wool sales competition.was animated. :- Crossbreds , sold well, but. morino were rather - irregular. . ...- '- . i f Tho American visible supply of wheat is .- 6-1,192,000 bushels. . ...... . 0 At the tallow' sales, 93.9 casks wore offered, i, and all sM. Mutton, fine, 355." 3d.; medium, d 335. Beef, fine,' 345.; medium; 325. '' 1 . ■'.■.- ; ' 0 (by. TEr.EGnArn—raiias association.) 1 NAnnii, -December , 5. • B. The C.C. and D. Company, Lon'don,-cables t the following report onthe frozen-moat market: 1 —To-day's quotations—Canterbury • mutton, l 3Jd.; Napier, Wellington,, and . North Island, t 3|d.; lamb, first quality 5Jd.; second '5Jd.; beef, D' hinds 3Jd-, fores 2Jd. ,

j..-;:.'; WELLINGTON SHAKE LIST. [..':'[" v . ', COMPiTO, , -MdUp. .IWjne. ■£ %»*■ ft Euyor , -SeW : .In^to. ' '' . ■•. BANKS. j ' JB • '■ ■Jβ .* jE V J! e. 0. : £ i. i. '*'»•<*• 4 ». d. ;•- .. KewZeuland .' - 5.CCO.CO0 " S8i;67S 3* 34 ■ : 10 B15;0. » 0.0. 910 0 3 10 9 i ■■.■■■ Rational -■ • - 375,000 ■ 335.318 - .-S4 15 12 6 7 0 6 8 6 . INSURANCE. -. ■ ' • :■■. ■:. -■';' ' • „ „. . i , National - - - 3C0.000 S49.339 ■: i -. nnltd. 15 16 9' 1.7 0 511 1 ;. XewZcoland . -- JOO.OOO* 336,785. S .'.J ' ]O :!« 0 ' < 1 0 ■ ; Eouth liriL'Bh '. .- 100,000' 513,490 •' 1 unltd. 30 ' ■ ' ' ■ B'lS'O , . •■ '. •\- ■ Standard .' - ■■■:■ : 75,000 62,183'. 2' unltd. 10 1 2 0 l>2 0.. ;l.!>;0 .616 4 !' . FINANCIAL. ; . ■ . ■;•■:. EquitableDuilding ,- C0,000 HIM 5. 5 10 10 2 6 30.5 0 .10.3.6 ug'o ;. Metropolitan Building 21.000 • 5,2-20 ". 30 nil • 1 ■■ - „ ■„. „ ! WellingtonInTOrt; ■••-•■ -60,000 3933 I i ' 6 ■ OH 3 • OIB 0 5 0 0 ' ' . ' IVerglon Trust*Lo&n- 101,250 50.frM 5 5 8 '30 712-0 ,710 0 ■ .5.5 8 ! ; NatiounlMortgaffo - SO0.O0O 112,250 • ■ !' 8 10 350 3 50 631 K.Z. and River 1'lato - 800,000 SM.3O3 1 nil 7 1 0 0: . 1 9-9 -1 » 6 415 0 .; . ; , Loan and Moicantilo.-./135,221 157,358 ■ \ 8i 5 ' ° 5 6 0 7 0 0 5 6. .9 j 0 1 • GAS. . ,...-'. "■■ . ' Auckland • ..„.-. 160,370 fO,5M 6- nil 16 H 0 0. 14 0 0 : - ; , . ; Christchuroh ■ . ... 152.000 55,087 5' nil. 10 10 2 6 :■ Feilding . . ■ 10,805 103 T nil - »M 8 "18 0 017 0 - GiBborao i . 17,100 9 239 1 nil 12} . a 13 0 "'".:■•'' Hawera .... s,*50 745 S i 10 .-.-,■ , ■ Kew Plymouth - - 18,000 . 3,159 5 nil 10 ! 715 0 : fcgpior -.•.-.) 10 nil 15 . S5 0 0 ; I ■„■■ " - - . «,957f 22,517 5 5 15 1510 0, . . . ■ I-'" . „ - - - - ) ' '■ 1 ' ' "9 15 ■■ 3 7 6....; : ■ . '• •' . . ralmorston Korth ■■ . £7,000 11.0M 4}' i . 10 7 2 .6 .7.2.6. .6 6 4 ..;..• Vellineton - - .; . e ,, 7( ,i 57S»8 : 10 .nil 10 18 15 0. 1817 6 .18 15 0 '5 6 8 . ■ „-••.•■ , ... ■ 5 • 6 jq g, 7 6 9.7.6 -976- 568 • .- -■ -,--HEAT. ' ■'. ' ... ■ ... ... ,. ?■• Canterbury . . - 183,727 J0,S7-t '7i 2i 8 .800 •-■:'■■ "' . V 1 Chrietchuroh - • 165,920 51,337 10 nU. 8 1010 0 1012 6 1010 0 T jj 4 'f ' Gear ... - Km .Y . to.lM 1 nil. 10 200 2 12 0 ■ 2 10 0. . 4 0 0 !■' . ■ ..' - -.- ■ W.<M] -4-6 10 ."'•■'.. '■; ' Wellington Meat Exp. i ■ ■ ' 5 nil. 8 ' . 615 0 ... ■ . ; :, ,. „ ■' 105,766 f 63.767 4 1 8 5 00 6 2 6 .-5 2 0 6 5 6 i ? ■•■ ., 1" ,. .J ii 23 8 3 6 0 . -3 6,0: 0 73 ;• Wancannl „. 45,850 11.4W 5 nil. 8. '■•-,. •'. ■ , TRANSPORT. ■ ' ; ' ■ ... W. & M. Kailway - v 170,0OD 121,453 1 4, ,7' 2-2 6 8 4 0'/ ->.'8'.3'0, ,351 '■■.'■ ''.■ K.Z.ShippintJ - . 473.S4O 113,731 8 nil. -5 6 6 0 6-5 0 ; "'6.' 5 0 6 8 0 , . ■ ■ .. Union Steam . - - (00,000 47-2,593 10 nil. ' 10 20 5 0 • 1810 0 ' 5 8 1 YrStn. Steam Ferry ■ 46,253 65 1 nil. 6 018 0 U8 0 • ■-.■.- COAL. ' ■ . ■■' Vestport ■■- - • SfO.OOO -117,215 9} li 15 716 0 V17 0 : 716 0 614 7 : . ' laupiri - - - . m,5O3 5,839 1 nil. . !i 019 6 10 0'." . .WOOLLEN. .■■■..'■' ' • ■ . ''.■■ , E»iapoi- - •■- .-- 100,000 E2,£O( 5 nil. 6 ,-•-.■ JiOEBiol- . . , . 83,457 17.W-3, 8} li 4 3 3 0 3 0 0 218 4 WeUington. - . . ■■ . ■ . 10,000 i ' 1 . 6 I 6 6 ' '3 6 0 'I 6 6 UlSCKLDANEOUS. ', ,-.. ■--,• 1 , Donoahyliope - '- '47.000 — 10 nil _ 514 0 , ; leyland & O'Brien - J5,000 ' 37,761 ; 1 nil 15 2 4 0 2 5 9. '' S 5 ; V '660 ; ■ llauricevilieliima • . 7,000 SOS 1. nil 8 15 0' ■''' - :.: 1 • fc.Z.Candle- - ; - 10,000 . ' — 10: nil ._.'■'•. 10 0 0 ;-,"•■. ... EOO.UX) 2 nil 7 £10 0 811 6 .'•• . ti.Z.l'aporMilb .;,.-, B4,755 1,177 1 nil'. 7 1 3 0 1 3 3. 1 3:3' 6 0 5 !. ' v .,-K.Z.Cemont- - .' . 40.UM 2,0-U 1 nil 8 110 6 111.6',. ■- ; L Jlannintf&Co. - . 96,100 ■ 37,670 4 1 . 10 3 17 6 •■ : : ' ; .: , Ward&Co. - - '. tO.COO i>0.655 4, ,1 10 4 17 6 6 10 • '6- 6" 0" 8 00 / "ttn.OperaHouso IS.M)' '■': 1,705 ' 5 nil.' 8 610 0 • 7 '5 0' , •-■■ "'■' ; ' ■ ■ Wetn. Freeh I'oqd • - SM.sidl — 1 nil — •. ■ . S ; Whitcombe & Tombs- 46,a50 £0JS ' 5 nil 10 4 6 0 410 0 ■ • bbarland, Limiwd Uj.Wd 9,311 1 , nil 74 t IB 0 ' ■