FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 69, 14 December 1907, Page 8

FINANCE AND COMMERCE.

.."'.THE SHAKE. MARKET. There, was a fair, amount of trading in investment shares yesterday. "Wellington Meat ■Export,.shares, <i£3.'l2s. fid. paid up, sold" at £3 75,, which is slightly lower than • the previous sale. • "Westports had quittance at £1 165., tho' same as was' realised at several vious sales. D.I.C preference shares changed hands at' 225., and show a' firming tendency. There was no inquiry for Bank shares, but there were sellers of Now Zealands at £9 175., and Nationals at £5 Bs. There was more activity shown in the insurance section. Nationals wero in demand at 265. 9d.,' and Standards at 235.; sellers quoted" £i Is. for New Zealands, and £5 12s.- 6d. for South British. Financial ..shares wero quiet and neglected. Sellers were willing to accept 12s. 3d. for Wellington Investment, £1 10s. for "Wellington Trust and. Loan, 10s. for Wellington Deposit, and 7s."for Loan and Mercantile. Gas shares lacked animation. There, was a. bid of £1 2s. 6d. for Palmerston .North Gas, and sellers quoted.£lo 2s. 6d. for Christchiurch Gas, arid "£l9 \toi< Wellington Gas, .£lo.:pitid up. Meat'shares'exhibited no change. Christchurch Meat shares were wanted at £10', 10s., 6ellers .holding for £10 15s. Gears were in demand' at £2 10s'.' cum dividend. Transport shares disclosed!"no; "variations. . Buyers;,bid 435. for Manawatu',.Kails,: and £20--I.os.- -for Union .-Steam. Sellers ■of the latter wanted. £21. There was some little inquiry for "woollen shares.. A bid of £2 19s: was made ; for Mosgier Woollens'," 'and Wellington -Woollen preference, shares,.Jos. paid up, were offered, at lls.'Gd. There'Vero buyers of Westp'orj;' Coal shares at £7 16s.', "and sellers at £7. a l7sr,'" and Taupiri Coal shares wero procurable at £1. Sellers quoted'-19s. for. Sharland's ordin- : ary, £5, 2s. '■ 6d. for Ward and Co. Brewery shares, and ; 9s. for ...Taranaki' Petroleum.

:.i ..THE MINING MAKKET. This market was exceedingly quiet yesterday,- and there was only one sale reported, Karangahako scrip' changing hands at Is, "VVaihis were a little firmer than on the previous day, but Talismans were unchanged. Tho following table' discloses the stato of the market'yesterday:— '■■"■ Buyers. Sellers. Sales. . ";'':- "'- v '- £a. d. £s. d. £s: A: Komata""Reefs 0 18 - —..,.. Kuranuv Caledonian--0 10 0 13 ;r- . Mav, Queeh, Ltd." ..TO 11 — - — Big' Elve- ''.: -■.:.<,' - 014 9 ,r- ... Ngatiaw'a'.; ... '..:;.. .;,.— 0 17' —'._ Karangahake . -:'...:.••• — — -0 l."0 -Talismanv-- ... ■ ..-. ,-2 13 6 214 0 .'.— :" Waihi. ; .s .....'•;,;./ 8 5 9 8 7 0 . —.'.

CITY'. AND SUBURBAN BUILDING /. '."'-:. "'.SOCIETY. The following is; the directors' report of the Citv and'" Suburban Co-operative- Building Society? of Wellington, to be submitted to the shareholders'at the-annual'meeting to be held, nt the offices of Messrs. Gualter, Dykes and Co., Fenthcrston Street, at 8 p.m., on December 19: —First ..-Issue—"Your ■ directors have much pleasure.in submitting the seventh annual, report and ■ balance-sheet of the above issue, of the society.- It .will- be observed that - the operationg.'of the.society continue satisfactory,the profit" and ]tisk\ accimot ..being", rio'w.-.lf;815 13s. ijd.'a's against J1777 lGs.. 2d..;last. year. It ■ will be." noticed there'is a-sum or-.£1073 Ss.'Bd.< on hand in the Post Office Savings Bank-and Bank loV* New Wales. .. From.:,this amount,''"however,-'there requires to .be deducteds/th'e sum ■ of:! JXiiO, being the'amount of loansi;to members, which are not yetJfoiiipleted. ..Jour directors have to record" with regret .the. resignation of Mr. James Barr as' a director 1 of the'society. To fill the vacancy rour directors appointed Mr. 11. T. Brittain. Mr. Brittain and-Air. Hustwick are- the retiring'directors this year, and being eligible, offer themselves for're-election.'. Xour; auditor, Mr. D.-A. S. Cowper, also retires; bnt, being eligible',- offers himself for re-election." ■;.:- — ■ Second; .Issue.—''Your directors .arc pleased, to place.'.before yqu".the "sixth"-annual report' and balance-sheet "of the above issue. _It is ■satisfactory to note that after paying expenses. profit nrnd -loss acouut has been increased by .£lO 7s-. -,-.4 d., making -the total at credit, vjC33 lis.. 9dl- .-.There requires to-be deducted'-!,from the money on .hand—.CS-1G 1.45. ,7d.—.£500. ■ for loans to- membors which - have not' beeh"c'6m-"' Dl'ited'.'."Tfi6 remarks in the First Issue, regard:" ing directors and-auditor apply also in.'this issue/'-'" : -. - .'-;.■'".!.".•. . ..-.■.. ..:■".'.., ■•-■'

;' r ;THE AMERICAN CRISIS.- •- The (London), 'of October 26, described ,tho panic in'.Wall, Street at that.date,. as one, of the worst, on record, and amongst the comparatively' rich as being without parallel. ,The " Economist" thus describes the incidents of the week:—"The crisis was started: by a notice from the National .Bank of. Commerce, • which had. acted as Clearing-house agent for the Knickerbocker Trust, that it would, no,-longer act in that capactiy. after Tuesday.. The trust'had recently lost, credit. by the • enforced resignation of its president,, and the ' vice-presidents hardly commanded' publid'Confidence."'Since President Roosevelt'sattacks'on the 'Trusts have associated a particular '.irieaning-'with the word, it may. bo well to point out that the Knickerbocker Trust is in no, sense a .combination in restraint of trade,-like / the Oil Trust. In the world of credit it plays.-the .part of a free trader or a smuggler, for it competes with, tho banks without being hampered by the restrictions and safeguards of the banking law. In a trust company security is subordinated to profit. In a bank, profit is (or ought to .he), subordinated to security. The Trust Compart." seeks deposits, ■ which may be drawn by cheque, and allows,interest on daily balances. This last feature,: and also a less severe obligation to keep, reserves, distinguish them from'ordinary banks, In 1903 the New. York. Clearing Banks refused to clear for trust companies Which did not agree to hold a certain proportion of'their deposits in reserve; and last-year the' State Legislature fixed the proportion at 15 pel" cent. The suspension of the. Knickerbocker Trust was followed on Wednesday by a run on a similar institution— the Trust Company of America, which' has a capital of two million dollars and deposits of fifty millions. Alt day tellers kept paying depositors, handing out about five millions.' The.i from Pittsburg camo news that receivers bad been appointed for the Wcstinghouso Electrical and Machine Companies, and that tho local Stock Exchange had closed.. On Thnruday other failures and suspensions were announced, but the situation was said ~to be much better. If .all the great commercial institutions of tho United States were honestly tasoased by men who would never use trust

funds to increase their private fortunes, the frantic .distrust, and Suspicion that have suddenly come to the surface could never hare invaded'and demoralised the 'army of investors. The tariff has accustomed manufacturers, the, idea that it'is honest' to flceco the. public, and sucessful money-making has 'become the standard by which suitability for tho control of groat corporations, and industries is measured. Credit, it can never be too frequently repeated, is not/founded upon gold, 'but upon confidence." There is no oxnet duplicate of the American trust "company, 'such as the Knickerbocker Trust,-in-New Zealand, but-.there' are many joint stjck cancers accepting deposits jn competition 'With the banks somewhat unfairly,, for these companies* are, not obliged-to maintain any proportion of tho deposits as' a reserve.' At .the mooting.of shareholders, of the Bank of New Zealand a fewdays ago, pointed reference, was made'to this'• matter. by the chairman -.. . .

■ :v.;.,\r::':'•:...'.:"..;.":' ; N.'oTßS.•■.;•■:■■■, .■■ ' ' ,' 'Copper,..on "spot, has '.'.declined' 1 by 205., and is now quoted at 55.; tin, at .£125 10s., show- a fall of £G' lO'sl since 'De'cenibor 10.

: There is .a', further-break, in:: the. price of lead.: the ".spot::quotation \being £U 2s. Gd., against 15s. on Tuesday:-

"The report of-'J. and' P;'Coats, Limited, for the year endcdf.June 30 last, shows a net profit of. .£3,056,125,- and tlie following appropriations ~.wevn made.:—"Reserve,' JESOOtOOO; pension "fund, '■£50,963; underwriting, ,£100,000; debenture redemption, ,£25,090; bonus of 2s. per share, £450,000; carrying forward, £853,921.

■ The value of refrigerated produce annually imported into Great Britain is now close to £10,000,000, about- half of which comes from lh(- British, colonies. The United States and South America each contribute'some £0,000,000, Russia,about £2,700,000; the remainder being distributed, among several different countries. The greatest value in these imports, is in , butter and cheese, which is about £25,000,000. Beef coino next, nearly £10,000,000; mutton, £6,000,000; eggs, more than- £2,000,000; bananas, nearly. £2,000,000; and poultry, pork, ami game, about. £1,750,000..-, The first import of refrigerated produce to Great Britain won Jn. 1879, when' some frozen mutton was brought from Australia.

-At tho close of the 190G-7 fiscal vear there \n<re 967,371 pensioners on' tlie. rolls of the .United States .Government, and tho total amount 0f... pensions -paid during the year reached the enormous "sum of ,£25,170,000.

:.: Germany,. though; a high tariff country, is now importing more than she exports. Daring the last .nine month's'..'her imports totalled some 328 millions sterling, against exports for thf!-same period of some 257 millions sterling.

MINING. ~. ANOTHER WAIIII RECORD. (BV TEtEGIiAPH—rREES ASSOCIATION ) , • •-'.•■•- Auckland, December 13. ; During the fojtr weeks ..ending' November ■30 the Waihi Gold Mining''Company crusher) .find treated 29,902 tons,ofc ore for a return of bullion valued nt .£69,250. This again constituted a record for any - four-weekly period in the history of themjne. The return for period ended November' 3' last,' which wan a record to that date,MvasiEW, 100 from 28.808 tons, a difference in favour of the November 'return of :ovoiv •£2ooo.. , With the exception of the. four .weeks ending June 15, the- output for the. present-year has.steadily increased from .£53,038 at the .'beginning to the present figure, and the total yield from'the mine to dateduring 11)07 is' .£769,119;.: This is. but .£03,503 short of the total - output for the whole of the year 1906 (,£537,.927), -which: should 'be exceeded when the December return comes lo :be added;'and the'publiished'returns have been -.-corrected.- The Waihi Mine has now. produced bullion worth J50,131,f)47, and has paid to shareholders, in-'dividends, bonuses, etc., to date, .£2,830,432. ■ ■■"■..r,. m -. : .

.;'. (-BV: 'ASSOCIATION.) ■'-" " " Au'cVi/AXn, December 13. V During tho.period ended November 30 the■Waihi Grand-Junction; Gold Mining Company crushed 3318''tons' fofcCa .rbturn valued at 1.E4930. This is a decrease upon the return for October,-when -3080 ..tons, yielded ,£5979. The total from' ;.the .mine, to .date is .£85,553.

Diedging returns:—Koputai, 730z. 19dwts.; Mystery Flat, 5207,: lOdwts.;' Manwhcrikia, oloz.;; Wnikaia,;'4lqz.. '13dwEs..'; Kura, 38oz: •lOdwts.; Charlton Creek,.2loz.; Muddy Creek, 'SOoji. sdw;ts.;.',J[ast.ci'tou„„l9oz. 12dwts.;" Hessvs, ISoz. Udwts;; Central Charlton, 15oz. lldwts.; (Jold King, 130z.; Swit'zors, 10oz.''Sdwts.

■ \-,.;.-.: LIVE..'STOCK', MARKETS. fur TELEOEAPH—r-RESS -ASSOCIATION.) The ' New Zealand Loan and Mercantile Company report :—At Fcilding on Friday a smajt entry of sheep sold well. Wo had a good yarding of cattle, and a good sale ■ resulted, all lines being .quitted at good values. There was keen competition for, steers and jood quality young'cattle. Store ewes, shorn, made; to 9s. I'd.; fat'ewes, shorn, 13s. .lOd.j 2looth ewes', in wool,. 21s. .Cd.; owes .and lambs, 25s; : 3d.';,yearling 'heifers, inferior, 195.; yearling .heifers, 295.- ( Gd.;-2-ycnr heifers, 38s. to '£2; yearling'.steers,. £2 175.;. 2-year steers, rough- JC3 Is. Gd. to .£4; 3-year steers, .£4'lss. to £$ "45.; forward bullocks', £h lis.; store .cows,, 285.. Gd. to £2 55.; cows and calves, 3Gs. to £3 4s. Gd. ■-'.."

, The' Mutual Trading Company, Carterton, 'report:—There was a good attendance at our Carterton stock sale on Friday. Bidding was •brisk, for cattle, but sheep were not so keenly contested for. Prices resulted as follow:—Dry cows, £3; forward cows,' 415.; to 825.; empty cows, 48s. to 605.; steers,-'lis. to 90s.;'yearlings, 305...t0 375. Gd.; Leicester ewe's, with 150 per c.ont. lambs, 30s.;' fat .ewes! 13s. Gd.;'. rape lambs, "10s. 3d.; harness "horses,' .£lB.

. Messrs. Dale^y. and Company, Ltd. .report as follows-.—At our Fcilding salo yesterday wc had a fair entry of. both sheep and cattle. There was only a moderate demand for sheep, but a good demand for cattle. Aged ewes, empty, made 9s. 9d.; fat Shropshire owes, 755. 7d:i shorn 2-tooth wethers, .small, 12s. lid.; small shorn 2-tooth ewes, 14s. id.; fat bullocks, £6 15s. to £1 lis.; fat cows, £5 25.; fat heifers, £S; forward cows, £3 2s. to £3 10s.; storo cows 505.; cows, with calves, £2 155.; young bulls, 395.; dairy cows, old, ,£2 12s. 6d,

Messrs. Dnlgety and Company, Ltd., report as follows un their Levin sale yesterday :—We had. a good.yarding of sheep and cattle. The demand ;was not so active as at last sale, hut the total clearance made the following prices:— Fat ewes, Its. j 2-tooth wethers, 13s. •Id to 13s. Cd.; small mixed 2-tooths, lis.; forwnrl bullocks, £<i-2s. (id.; 3-year steers, ills.; 2J and 3-year steers, 80s. 6(1.; 2-year steers, 80s Gd.; 2-year steers, 50s. to G3s.; yearling and IS-nionth steers, 18s.; yearling steers, 30s. Gd.; 2-year heifers, 495.; yearling heifers, 255. to 265. Gd. .

; Messrs. A. IT. Atkinson and Co., Ltd., Folding, report;—At yesterday's sale pigs and wcaners made to 7s. 9d., Bs. 3d., 9s. (id., and 12.!., slips, 13s. Gd., 155., 17s. Gd.; stores, 215., 225., 255. 6d.; sows, empty, 375. Gd., Jfls.j aged, 30s. Poultry.—Hens, Is. 3d., Is. Gd., Is. lid., 2s , roosters, Is. Gd., Is. 9(1., 2s. 3d.; ducks, Is. Bd., Is. lid., 25., Is. Id. Chickens, 9d. to Is.; geese, 3s. Id. and 3s. 2d. each. Produce. —Old potatoes, table, 6s. 6d. to lGs. Gd.; pig, 25.; new potatoes, lid. to 2d. per lb.

' H Ernest Leighton reports:—At my Silverstream slock sale, held on Thursday last, there was a good yarding of sheep and cattle. There was a good attendance of buyers, and values all round wore ' highly satisfactory. I sold 2 and -4-tooth wethers' td 13s. 6(1.; fat cows, £i 18s.; forward cows, .£3 4s;''to £3 155.; store cows,' .£1 10s. to JE2 10s:; stags,' £2 12s to £3 75.; bulls, .E2 10s. ■to JM-10s.; springing cows, £3 10s. to JS4 155.; springing heifers, £i; yearling dairy heifers, £1 10s. Gd. At my'horso sale on Wednesday, on account of Mr. Dyke. I disposed of the horses as advertised, at from .£2l 10s. to .£33 10s.

GEAIN AND PKODUCE. Laery and Co., Ltd., Wellington, report wholesale prices ruling on the market as follow:—Wheat, milling, Gs. 3d.'; oats, Is. to •ts. 4d.; maize, 55.; crushed malt, Bs.; Prussian blue peas, Gs. Gd.; fowl peas, 4s. Gd. to 4s. 9d., all at per bushel. Flour, Now Zealand, JEI2; Australian, .£l3 155.; pollard, £S 10s.; bran,' £5 10s;; pearl barley,- .£l9; split peas; .£l7; beanmeal, ,£6 155.; bonedust, £6 ; superphosphates, .£5 . 55.;. chaff.. (oaten . sheaf),.. £T to £7 lOs.joatmeal, .£l7; -potatoes, derwents, £1 all at per ton.' Bacon, factory;'sides, .Bd.; hams, B{d;' toi9d.; rolls, 85(1.;. butter,-, bulk, pastry, : Bd. to BJd., all at per lb. Poultry, hens, 2s. Gd. to 3s:; ducks; ss. to Gs.; turkeys,:gobblers, 15s. to 225.; horis, Bs. to 95., all at per pair. Cauliflowers, 3s. to 55.; ■ cabbages, 2s. to Gs., all at per sack. Fresh eggs, Is. Id. to Is. 2d. per doz.; cheese, factory, GUI. per lb.; onions, JS7 tOdES per ton; maize, New Zealand, ss.

The New Zealand Farmers' Co-oporative Distributing Company, Limited, report as follow:— Maize, 55.; wheat, fowl, 6s. -Id.; second quality, 55.; oats, Garton's A Grade, 45.; oats, crushed, •4s. Gd. per bushel; horse-beans, crushed, 4s. Gd. per bushel; pollard, £G 155.; sucrosine, '200's, 155.; 100's. Bs.; prime oaten sheaf chaff, £6 10s. Potatoes, new, £10 to £15.per ton; potatoes, old, £2 to £2 10s. per ton; onions, £8 per ton. • Butter, separator, 9J<l.; milled, Bd.; dairy pats, Bd.; eggs, fresh, Is. 2d. per dozen; factory bacon, sides, Bd.; rolls, 85c1.; hams, 9d. Honor, Gfl's, -lid.; beeswax,'ls..Gd.; fungus, 5d.; walnuts, sd. per lb.. '■.'. Porkers, ,70's to, OO's,' lid.: 90's'to -100's, 4d;; heavy pigs,'3d. to 31(1. pc'r lb. '. "... . Cabbage, 35. ;. cauliflower, 7s. Gd. per 6ack;" green peas, sd. per peck; asparagus, 4s. to'. Gs. per dozen; rhubarb, 4s. per dozen; carrots, table reds, 10s. per sack. Gooseberries, 35." Gd. per half-case; tomatoes,' Gd. to 9d.; strawberries, Is. 3d. to Is. 6d. per lb.; oranges, Sydney, 205.; bananas, 15s. Gd. > Cocksfoot, 7d. to Bd. per lb.; ryegrass, Gs. Gd. per bushel. . Poultry, table roosters, ss. Gd.; cockerels, ss. to Gs.; table hens, 3s. to 3s. Gd.; ducks, ss. Gd.; ducklings, Gs: Gd.; geese, 75.; all at per pair. Turkey, -gobblers, 9d.| hens, Bd. por lb., live weight. Dressed poultry, roosters, Bd.; hens, s"d.;' turkey, gobblers, 9d.; turkey, hens, Sd. per lb. BANK OF ENGLAND RETURN '. 7. or TELEGRAPH—PRESS ASSOCIATION—COFTttIOHT. ■ .-.- (Eec. Dec. 13,:9.13 p . lu .) ~ London, December ' 13. The Bank of England return issued for tho week ending Wednesday, December 11, .is. as under:—'..-' Issue Department. Note Issue £51,398,000 Gov. debt £11,015 000 Other sccurl- ■ ■ . tics . ... 7.434,000 .' ' Gold ... 32.040.000 £51,308,000 i'5U03,000 ■■'■■' ..-• • . Banking.Department. .Proprietors' , Govt, scouri-, capital £14,553,000 , tics ... £14,332,0X1 . Tublic do- - - • , -Otherscouriposits ... 5,336,000 ties ', ... 30,206.000' ■Other de- ■ ■ . - Notes. ... 22,158,000 ... - : posits ... 45,0-23,000. Coin,.. ~. 1,216,000 .' Post, 7-day and other bills ... 3.206,000 £63,212,000 / £65,212,000 Tho leading items of tho Bank of England return afford tho following comparison:— ' ' :. Thiswcok. Last wool;. Last year.' £ ■■-£ •" - £ Bullion .-.;■• ... 3-2.f1111.003 31.(£S,00!1 E1.E65.030 - ' lloscrvo..-.. ... 53,G74,0;X) 21,9."/i.ojO :H,7-ia,tOO Notocirculation''- 23,9(0,000 29,.'i;0.030' 33,£01,0j0 l'uhlic Dopositß • 0,355,C00 5,349,020 0,573,000 OtherDoposits 45,023,000 44.-205.00J 41,756,000 - .Proportion -.- . ■ ■ , ' roserveto . " ' l . ■ -.- ■ liabilities ... 40.95 44.03 47.03 . GOVERNMENT SECURITIES.' -- Tho following are tho latest quotations for Government securities.with a comparison of, t-lioso ruling last week:— Variations — Prim compared . lnco with last week. £ s. d. 2j % -Imperial Consols 83 1-2 6 10s. lowor 4 „ N.S.W.ianjau.-July ... 105 0 0 Unchanged 3} „ N.S.V.IO'B Mar-Sopt ... 03 0 0 Unclmngod 3 „ N.S.W. 1f35 Apl.-Oot. ... 81 10 0 10s. lower 4'„ Vic 1920 Jan-July 101 0 0 Uuchansed '34 „ Vic. ■■-... 05 0 0 Unchansod 3 „ Vic, 1020-40 Jan-July ... 63 0 0 Unchanged 3i „ S.A.lOliiJan.-July . - ... 100 0 0 ■ Unchanged 5 ~ S.A. 191b\7an.-July .:. 8-1 0 0 " 20s. lowor 4 „ QTdl92-l-30Jan.-,!ul>- ... 103 0 0 Unchanged 3},, QTdlB-M) Jan-July ... 90 0 0 -Unchanso'd' 3 „ yTdl!»>-47.ran.-Ju>y--.-... 84 0 0 Unchanged 4 ~ N.Z, 1020 May-Xov. .... 105 0 0. Unchanged' 3j „N.Z. 1940 Jan-July ... 09 0 0 Unchangod 3 „N.Z. 1910 Jan-July- ... 84 10 0 -Unchanged 34 „ \V.A.I<JiO-3r>Aky..','ov .;. 05 0 0 Unchanged 3 ~ W.A.l9l.W.wiay-.\'ov ... 64 0 0 Unchanged .34 „ Tas. 19-20-40 Jan-July ... 0:i'0 0 Unchanged 3 ..'ijis. 10-2040 Jnn.-July ... 65 10 0' Unehansod THE MONEY MARKET.,' The open ma'rket discount rate for best three months' bills is 2s. Gd. higher at 6 per cont. The Bank of England rate is unchanged at 7 per cent.

COLONIAL AND OTHER PRODUCE.. Wheat—The market is flat, with about Is. per quarter decline, owing to the Argentine crop being likely to yield a surplus of twentvone to twenty-two million bushels. Dear' money is restricting speculation. Cargoes "are neglected, though oll'ered at lower rates. South Australian September shipment, 405.'6 d.;. Victorian January-February shipment, 395: 3d. Flour is dull and weak. Australian, 295. ex store. . .......

Sugar—German, beet, 88 degrees,'ld. higher at 9s. Bd.; first mark granulated f.o.b. Hamburg, Id. higher, lis. 3d. per cwt. Butter is slightly firmer. Choicest Australian, 1165.; New Zealand, 118s. to 1205.; Danish, unchanged. Chouse is firm. Now Zealand, white, GOs. to Cls.

Bradford tops—The market is stagnant, and crossbred, counts are decidedly weaker j 40's, 13id.; 46's, 13d.; common CD's, 26Jd.; super 60's, 27(1. per lb. Prices for forward dolivcry rule a half-penny less.

THE METAL MARKETS. Copper, spot, 40s: lower, at .£SB 155.; three months, 15s. lower, at ,£OO ss. per ton. Tin,-spot,.- M lower, at .£127 10s.: threo months, .£l2B 10s. per ton. Lead, .375. Gd. lower, at ,£l3 17s. (Id. per ton. Pig-iron, Id. higher, at 19s. sd. per ton. Spelter, JC2O- ss. per ton.

OVERSEA MARKETS. DT TELEGEAm—I-EESS ASSOCIATION—COPTniGHT. London, December 12. . Silver is quoted at 2s.' IJd. Copper-On spot, .£59 55.; throe months, ,£GO 10s.; electrolytic; £62. Tin—On spot, J5125 10s.; three months, JJI2G 10s. Lead, .£l4 2s. Gd.; imports, 19,108 tons; Australian, 5171 tons; exports, (520 tons. The American visible supply of wheat is 63,880,000 bushels.

NEW ZEALAND MINING VENTURE. ADVERSE .CRITICISM. ' HY TELEGRAPH—riCESS ASSOCIATION—doPYRinnT. . London, December 12. The "Financial News", criticises adversely the prospectus of the United Goldfit'lds of New Zenland Company, with a proposed capital of ,£150,000. According to the prospectus it in the intention to raise the capital later to .£300,000.

WELLINGTON' SHAKE LIST. COMPANY -- -CN" £lfe 1? : ' : '' VJtl ™ S ' r . ™ 4 ' •BANKS. .:'" JE '■: "■"£' : "f \"i : y'-£ : ;*■*.'& '*£&•■ . * ••■ a - * I;*! Kew Zealand-. - .. - j>,CCO.<X» , °a,G75 ■ ■ Si ' _-.3i'.":' 30' .' c ' '.. .. •> « ° ■ National--:- - '• - ■: 375,000 '■■•• -335,313 ' Si' "15'-- 12" .. 6. » u INSURANCE, -w.- v.-- . V.-. ■-•••.-' ■"■;","'n" : ""'!""' , . n e11 , National-.-' - -■•:;, ICO.000' 249.330 ' ,,...} unltd.: ']S' -.J.g P. ; in * XcwZcaiana , . ',.-, soo.ooo 336,785 2 8 . JO »19 ° ''*,i"S South British- • "■.'.- ICO.000 512,499 ' 1" unltd. 30 : ' 5 12 6 . Standard'- •- . .,-.■"./ 75,000 82,163 5 : unltd. iq 1 3-°- , ,-• ISO 616 4 Equitable Building - V tO.OOO 44 590 ' 5 •'■' 5 -]0- : ': 10 ' 2 ' 6> ' : :0 5 °. 10 , a 6 * 1S ° Metropolitan Building':'- 21.000' '." ; 5.2-23'": "]0.. ..nil ■ 7' /-:..;/. .■„ v „v., „ .„ n rnn Wellington Invest. - .- 60,000 - 3,933 -■ 4 i 6 ,,.,-■ "J-;* ° " 2 * " ° Wel'gtonTrust&Loan 101,150 S9.G20 5.5 8 »« .'??„? ' 10 ° J J 8 National Mortgofio, - . S0O.000', . 112,250 ,,..3.-8 10 3 5 0 . . 3 5 0 N.Z. and River Plato - ; 300,000' Ca3,S03 1 nil 7 " i 9 g ' HI Hi i : ? 2 Loan and MorcaritiloV 135,22-J 107,353 ' ■ 1 8-1 5 ° 6 6 ..-.P..?.* .." s " a * 9 •GAS. -■■-:•'•'•. -..-• v-- "-.-,. •--.- '■' 'i—i..'J- . ' Auckland.. ■ . i ;: £0,55-3- ." '6,: nil. 16 » 0/0 ."-jjrP/ ' Cbristchuich .,:':...,. I52,000:j ;' 55,067 v.'5 nil 10 ■_ M":-:»■ .... Feilding- . ■;..,-.••.'■ 1OS03.. ■■-'•■ 10S-- ■ I-''-nil — ° 10 , 9 . ,' : 0170 Gisborno •■'.'-. . ..:. 17,100 ,.'. 0,239, .' 1- 'nil/ Hi :', ; / : .; ,- 4. 13 . : r u - . .-.;'■•■ 8,250 -745. .».S -■'!■•• 10- -jrt;' J / : l ,«':' n KewPlymouth -,:..., 18.000 5,150/ :, 5 ■; . ■" nil .10' '-.,.«£•'-'. rl 3 „n ' '■ ' Napier-v - ..'•-.-• ) v •-. 10 .nil' .15 . '?*! ff _0 0 „.-•..'.-. ■ .-. :.. .. iassi\ . 22,gi7 -a - 5- '-is ■ •- ■■■■:- ■■" 1 5 1 2'-9 . . Falmerston North .; ;'e7,C00 11.0D3, 44 4 -. 10 -.J * J ■■ "'" n J,' .! J!*' TV.llinoton - . I 67GHS 10 nil 10 18 15 0. ...10 .0. 0 18 15 0 5 6 8 neuington _ -. . mA10 «•*» 30 5 • 10 9 7 6 910 0 9 7 6 5 6 8 "MEAT. ■ . .':;. . --..I ,". '-''Cn Canterbury-, . ■' ",383.727. £0,074 ■ -7|-. 2l ■-■ B ',3';" 'n mm n j Christohurch - -- 165.920 .54337 "10 nil. ; . 8, 1010 0 lOOS-.-O 1010 0 71J4 Gen— • ....:. wm ,| .,.66,261. 1 ..nil, . 124 -2100 2.120 Wellington Meat Exp-. "') . /5 ,nil. / .8 . , con « « B . ": „• .105,766 63.767-. ■■ I -1 ....V.8. ...).. SJ.:« • S 3 -0 656 M -;,.'„ . J . • Jj 2J- --r: . g - - 3 .6' 0 3 • v 6 3 7 U 6 5 J Waneanul : ,', ,. • ■ .45,850 11,401,. ,5 nil.- 8 TBANSPORT. . „ ■ „ „-„- . ,,,„.,, . a c W.&M.Bailway -' - 170,000 121,453. 1 ■••■' 7 2.3.0 S .3 .6 ; ,43fD M/- 33 8 N.Z. Shipping •- '-"- '473,840 -113,751 '8 nil. -5 ;-6.60 6 5; 0 6 .) O 6BO Union Bteam - ■-•-(.00,000 472,592 30 nil. 30 SO JO 0 210 0 3610 0 58 1 Wfitn. Steam Ferry '...,', 46,2*1 65 1 .nil. .. 6 018 0. ,1480. ■ Wratporf <■'.■'.''. '■•>•■ 2£0,000 117,315 31" IS 15 •' 716 0 717 0 T160 614 7 lanpiri-;..;: . . ..,-,.:' 12,50). .6,339 : I nil.' 7j 019 6 .10 0 / WOOLLEN. -;. .- , ,;/: Eaiapoi-;■-..'.. -./ICO.OOO 52,851 5 "-nil.. '6. .„"_. , ,'■„„„ „ ,o • Moneiel -'•'•■. .-.-<■ 63,457 17,212 • 3j 14-4 2 19 0 3. 0.0 2 18 4 Wellineton - .- ■:'. - -tO.OOO 24,368 • 1 1 : '. .6 " SB .0 '3 6 0 V 6 6 MISCELLANEOUS.-: ,.: . ' :....,...,...... BonaghyBopo - : . 47,000 . - . 10 »! -» 614 0 LeylandfiO'Brien ."35,000 37,761 i 1. ml 15 2 4 9 2 56 J-.-5, 9 66.0 .'. ■■ 1fKO . . W • 1 ■"!' . 8 '.. • . -.1 5 0 • -, N.Z.Candle- .-.■,-. 10,000 ..--.-. . 30 ■ • -nJ.'.i .- ...■.•:'.... lO'OO . . , , , , MADrug.. - - .' . £00,000 34,514: 2 nil 7 .. S10.0- 211 6 ' N.Z.PaperMills ' .. 94,755 .1,177 1 nil ., 7. 13 O 13-3 13 3 -605 N.Z.Cemont- • ■-. 40,000 - 2,043 1 nil 8 110 6 111 6 Manning & Co. - 96,000 37,670 4 l- ; 10 ' ' ' 317' 6 . ■Ward&Co. - - tO.OOO 20.655 4 1 10 417 6 6.2'6 5 0 0 8 0 0 Wgln. Opera Housa ' 38,630' 3,705' 6' »' 8 -610 0 7 5 ,0 7 0 0 514 3 ■Wgtn Fresh Food • . 28,261 - — ' 1' nil ._ -••■-. • .. . Whitcombe & Tombs- ..'46.250 £0,153 6 "if ho 4 6 0 410 0 ■'...■■ fcharland, Limited.. • 48,676 • 9.311 1 . nU. -.7, H9 ■ 0