FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 76, 23 December 1907, Page 10

FINANCE AND COMMERCE.

WELLINGTON SHARE ttST.

- ..THE SHARE ,MARKET.. '.,■-,-,,.>■=.,,. The sitting of the Exchange on Saturday was .more or less of a formal matter. -No business was done, "and;;brokers, did not {.expect; to .do,' any trading. ; ,'Tho -Stock.; Exchange" holidays have begun, and business will-hot be "resumed' Monday, January Gl.There wero veryfew buying orders,on Saturday, and compara;tively few selling of Feilding' Gas" at ; lGs:''9d:',' Gear"Meats aJi-dSs;: ex.dividend, and Mnnawatu Rails'at,43s. Sot lers quoted ,£5 <£9.1557', for Bank of New Zealands,' 7s: u for L'oan-and Mercantile, 10s. for Wellington 'Deposit, ,£lO 2s. 6d. for Christchurch Gas, 18s. for Feilding ■Gas, .£l9 for Wellington Gas, .£2 10s. for Gear Meat, £2 4s. for Manawatu;,Eails'; .£2l,for Union Steam, ,£3 10s. for 'Wellington Woollens, 19s. 9d. for Taupiri Coal, £1 17s. for Westport Coal, 10s. for £2 65., 9cl. for Leyland-o'Brien ! .-Timber, and 1 95.for'Taranaki Petroleum. ■■• Tho course of sales during the past three yeeks is given below-.— ' . ..5,..:-.-m.v Christchurch Moat, £2 10s. \. Gear Meat, 50s::v'' ■--,-■ -...--%,...- s -i .■■ Meat Export £512s:^£5-.2b.'.X.^.1 Meat Export (.£2 12s. 6d. paid), <£3 7s. 6d., i£3 75., ,£3 7s. . '..> ..- ,>.?•* '■ •Kauri Timber, 9s. Gd. ,V.»J'^.'■"*'.'.■"l'.iV,'..*-h ■New Zealand Shipping, ,£G, £6 6s. Gd., ,£6 ss. Westport.Coal, ■ £7 165., £7 lGs., £7 lGs., m,,:£7 lGs;, £7 165., £7 165. :: J .Z.V:'■:■ ?. ■"::i, i Wellington Gas Company (£W paidj, 15s. Wellington Gas paid), 9s. 6d.' Tarahaki Petroleum, Bs. . . ', Wellington :Investment, 125.--125.,'. 12s. ■■' ■'■"' ;: ' Wellington Trust and Loan, .£7 10s. ■'Wellington Opera 'House, £7. . ■ ■' ,r.-'/-.;i D.I.C. preference,) 21s. 6d., 225. . !'*& '•''.■;" Manawntu Rails/ ; 235- ;9d.i :245.-, 23s;r.9di rj K- i - , Union Steam, J2O 175., / "■■■ .J.' .•'■'. .. :' .., THE MQNEYI.-MARKET;-'."'?:-;.'.'.;- , The Londonumon'ey market-is-not-very promising, and as the greatest-pressure-will bo experienced during the next few days there us still danger of even a higher Bank rate. A year ago the pressure was so' vory serious that it was by the greatest good luck that an advance was avoided. The Bank lost quite a million sterling in gold last week, and,if there, is a further" overflow-this week the -positionwill become?serious... The,open market discount rate remains at 6'per cenf.,f-and decline is not to be expected "until':' the' turn of'the quarter. . In the meanwhOe it is satisfactory to note that gilt-edged securities are unchanged. Imperceptibly money,is hardening in New Zealand, -and-just- : n6w"'loans,ion'-:,tho very best security 'with 'ample margin*cannot be arranged':at under 5 per cent. Lending is : being restricted, and deposits are beginning to flow out. Although there has., been np notification, it is understood'.-that--tho!-building;! societies" are'allowing i\ per, cent, on twelve : months' deposits, and this represents an advance of about 10s. per cent, on the previous rate. The American financial crisis, Jby bring;, ing about a ( fall in the values of-.produce,'is now beginning to,affect.us dire'ctly,...biitiif..the position becomes no worse than, it is. at'present we may consider ours'elvos ; fortunate.'■" •

THE MINING MARKET,^,;,-.-There was-no business done in. mining sllarcs. on Saturday, and'while there were many'scllers' . there were only two buying orders. Tho state ; of. the market is disclosed in tho table appended-.—' '; . ■'-->,-•--•- ■•■:■ ..<• . ".; . ' Buyers. Sellers. ' . : ' .£s. d. ,-.£:s. d. ;- . Talisman ._ £ 2 10'3 " ' lli- •--■ !• — • Waihi :.;,..'.''..;' 8---S-0 <■:. 8 ; '7'o :i ' ■- ■. Komata Reefs ... — 0 >l---o•<'■*.•• Waiotahi ... ... — 0 S"^""" Karangahake - ... — 0 2 3 - Ngatiawa. ... .... — 0 1 10 Big River ... — ;:, ; 0 15 O.V; The course of sales during, the month was as follows:— Talisman, sk, 545.,f.555. 9d.i-.:-53si'- Cd., '■ 545.,' 545. 6d., 515.-9 d., 555., 555.; 51s. 3d., 535., 535., 525. 6d. ' ::..: Waihi, £8, 65., £S 45., 4s. Gd., 55., .£8 4s. Gd., £8.55., £8 ss!, £S 55.,-,£B 6s„ ,£8 6s. 6d. Ngatiawa; Is. 10d., Is. 10d., Is. 10d„ Is. 9d„ Is. 7d., Is. Bd., Is. lid., 15..-91d.,Us.' 9Sd; _ : -".-■■ Waihi Extended, 55." 3d.,'55.'3d. "'' '. Karangahake, Is., Is., Is. Gd. •,-- <;■ New Zealand Crown, Bs. 9d '-.'..!' .. Big River, 14s..Gd. .;;,. ■:-■■ •'■''.' ■'~., ::,.'-• May Queen,: Is. 4Jd., Is. 5d." .'■■" ■'■-■■■ "- : - Komata Reefs, Is. 9d.,'ls!'lOd.',- .r.' -■;'. Waihi Consolidated; 2s. ' " ' i • New Alpine, '5s 3d., ss. fid. PRODUCE MARKETS. ' : - '' '. Butter -is still favourably affected by the ■ Christmas- demand tho prices are just now phenomenally high, and there is, therefore, all tho more danger of .a recession. "'However, as soon as the present extraordinary demand , is met, a slackening •'• of• values is very probable. Sheepskins show a.very, heavy., decline. ■• as compar.ed with the prices ruling in Novem- '■ ber, and Bradford tops ara exceedingly dull.. For spot lots low cash prices are accoptid,' and that does not sound very well. Thero is- : littlo prospect of any improvement in woJ;' on the' contrary, the January sales are .Ukclvto show a further decline. ) •; . iiIVE STOCK ' .MARKETS, •- - .-. • (BY TELEGEATJI—SPECIAL '• CORRESPONDENT;) ' '". w * '■ * Pahiatua, December 21. At tho- pig and poultry sales to-day, thero was a small yarding only of pigs, and a good collection of poultry. Prices remained about on a par .-for pigs, but there was a marked advance uri poultry, probably., duo to Mio. nearness of Christmas. .Weaners made lid. . Gd;to 12s. Gd.; slips, 12s. Gd. to 155.; stores, 18s. Gd. to 21s. ;Po'ultry—Geese, 35.. Gd. to 4s. each. Ducks, 4s. to 4s. Gd. per pair; fowls, 2s. Gd. to 3s. 3d. :.„ , . t , -. . (BY TELEGRAPH— PRE6B ASSOCIATION.) Dunedin, December 20... At the Burnside .stock sales 220 fat cattle wcro yarded. The quality in tho majority of cases was;g'ood. Prices (on account of largo yarding) were easier, from 10s. to 15s. Best bullocks, .£lO 10s. to .£ll 10s.; extra,. ,£l2. 55.; medium, £&. 15s. to X 9 155.; inferior, .£7. 10s. to .£8; best' cows and heifers,, J!7 10b. to"'£B' 10s.; extra, X 9 155.; medium, £G to £G 155.; inferior, £i 10s. to £5 ss. •■ Fat. shcep.vUSG. yarded. Prices at the .commencement wero much easier 1 - than last week, but as the sale progressed pri? oo improved, and towards tho

end, were.,quito equal,to last week's rates. Best wethers; 225."t0 235. Gd';-extra; 245. 9d.; medium, 19s. to 215.; inferior, 17s. to 18s.; best owes;,l9s: to 225. 6d.; medium,; 15s. 6d. to 175.; inferior, ''13i; 6d. to l4s'.-6d. Lambs, 999 yarded. firmer. Best lamb's, 18s. to 19s. Gd.;.medium, lGs. 9d. to 17s. Gd.; inferior, ,135.. 6d. t0..145...6d...Pig5, 250 yarded. Suckers and slips all sold well. Suckers, 17s. to 215.; .slips,. 225.. t0.265.;. store's, 28s. to 325'.; porkers, J4S. 58s. to 75s'.' '>■■ Dalgoty and Ltd., telegraph that, at their Foilding 'sale on Friday there was a medium -yarding- of--both sheep and cattle. Two-tooth wethers made 12s. 3d!; 4-tooth wethors, lis. 6d.; 18-month' steers', J23'105.; yearling heifers, 305.; young bulls, £2. ,:.._WOOL, SKIN, HIDES, ETC. Messrs. Levin and Co., Ltd., report as follows:—We held''bur fortnightly salo on Friday, offering 2500 skins'; 1150 Chides and calfskins, and a quantity of .tallow' and horse'Thero""was'ag6od ; 'attoridance of buyers. Wool is ■being .hold for, salo, on. January, 17, 1908. was weak, /'and showed'a'fall-of'ld.'to-lid. on prices ruling at the last sale, held November 22. Wo jqubte: .-Merinos,r:6!d, v tp_. 7Jd.;..fine. 1 crossbreds, 7d. to'73d.;'coarse crossbreds, 5Jd. to 6Jd.; dead;, skins, to 5Jd. •/ dead hoggots, 4d., ■' t0,., dry .pelts, 3d. to 4d.; green-skins,-'ss;" to : Gs'. : Gd.; green lambs, Is. to Is. Bd.; green pelts, Is. to Is. Gd.; easior. Tallow—Parcels in shipping order, ,£24; tins, £15 to .221.;.r0ugh, fat, .£l3. Horsehair, Is. to'ls.'4d. per* lb. "Horns, Gs. to 18s. 9d. per' hundred. Cowtails, Is. to Is. 4d. per dozen. Hides—Hides'-.'iwero a ; halfpenny • lower: - Ox hides (extra''heavy), -51' d! to 5Jd.; ox hides '(GOlb. to'VOlb.), -4id.-/-to SJ-d.; ox hides (501b. to 591b.), 4Jd.'-'.'t6 -43d'.; cow hides, 3Jd. to 4jd.; calf skins(- best),-''sd.il' to 6d.; calf skins (cut and slippy), '2d.'>. to 4d.; hidos (cut and slippy), 2d. to 3d.; stag,'hides, 2Jd. to, 3£d.';. bull hides, 2Jd. to 3id. Our next sale will be held on Friday, January 3, 1908. . Tho New Zealand Loan and Mercantile Agency Co. - , Ltd., report as follows:—Our fortnightly sale comprised .about 2000 sheepskins and 500 hidesand calfskins. In sympathy with the, Jower, prices, ruling, in England for skins arid leather, arid' in Australia for hides, we have., to; report ;a,:drop jn prices since our last sale, held; on/November;22, of 3d. to Id. per; lb. in fine crossbred and halfbred, and Id. to ljd. in coarse crossbred, and on of- lJd."to 2d', per lb. Hides were about Jd. lower, and calfskins (sound) about Jd., higher than -last .sales'.vr.'.Talbw was in fair • demand 'at -a' shade-lower ■ th'ari'lnst sale's rates. We quote:—Sheepskins—Halfbred and fine crossbred,' 7d. to 73d. per lb.; crossbred, medium, Gd. to GJ-d. per lb.; crossbred, coarse, 4d. to sd. .per lb.; broken and inferior, Ijd. to 4d. por lb.; green skins, 45.. to 6s. Bd. each; green lambs, 9d. ,to Is. oach; green pelts, Is. to Is. 2d. HidesOx, light, S|d. to 4Sd. per lb.; ox, heavy, to -5-ld; per lb.; cow, 3|d.-to-4d; per lb.; damaged, '3d.'to 3Jd. per lb;; "calf, sound, 4Jd. to 53d. 'per lb.';'■calf; 1 -damaged, Id. to 3|d. per lb. fallow—Good .mixed.j casks, 24ij. 6d. to 255.; tins' arid odd packages," 16s. to 20s. 3d.; rough fat,« 165..-6 d.--per cwt. ■•> ,

'^ ; ""*'; " t ''Grain. - ' ' ■ - '•(Dy'TELEGKAPH— rBESS ASSOCIATION.)' Dunedin, December 20. „ The,,v;heat^market, .is very dull,'and practically no business"is being'done, and oven at the reduced prices"it is difficult to effect sales...,; Prime' milling;,ss. .4d. to ss. 6d.; best whole fowl wheat, 55.; to ss. 3d.; medium to gb'o'd, '4s.' 9d. to 1 5s.V broken and damaged, 4s. :0d.;J:o; ; 43.: 8d.;; 'sacks pxtra. Oats.—As shippers are not operating, and tho local demand is light," very little business is being done. Prime milling, 3s. 3d.; best feed, 3s. Id. to 3s. 2d.; medium to' good,', 2s. lid. to 35.; sacW extra. ' : , ~ ■ .■ _ ~ I ' -'•;'•' LONDON -MARKETS. .-Tho - 'New - 'Zealand Loan' anil Mercantile Agency Company has received the following cablegram,.dated December 19, frorii London:— " Sheepskins—Combing merino sheepskins have declined Id. per lb. since last sales. Pine crossbred, sheepskins. ;hnve declined Id. per lb' since' last sales.- 'Clothing merino, sheep-skins-and orossbrcd i lambskins have declined 'l'i'd. per", lb.' Coarse crossbred sheepskins and short and shorn sheepskins have deplined lid. per lb., since last, salos." -'- ;

- ■'■",■ ■■■'„■ '.."'.', -.-lieEorvo a»« j. u,- ■,, . • . PRICES. " Yield rrtMPANY 'J ■ • • Capital i Eundand. t>A ».„" 2'S — : : : ; —; — to ; : banes. ■^ i '^;^.' ;l v c ;* > ?:. .,££1; **■?' £B-a< Kew Zealand .-.,.-; 5,CCO,0M, . 581,675 3j . .Si , JO- »'■...«-■,-. V -'Kan , ' National --•,->: 375,000 ; . 835,318 • • 21 'Y15 ■--■" 12 • ,P • B ' l> -' "-,. ■ U National , . :,;..- ,■ JCO.0CO'-. -.249,33a -..;.*. unite. ; ',isv ■ -J--5--5-. -/V n ■ . New Zealand'. ...•".;?■'•'"SCOJiOO ■•• ■ SS6.7S5 "•" -2- 8 10 -3.10.-.0- ---J i .-.o . . . Eoiith British .:jy'- .100,000 V ." 6j2,409~.,". [].. J.: unltd.;-"SOt. .:.,,qV n 'J..i/£'.n ton E 16 4 Standard; - . ;...«.. i, 75,000 63,183 S' ; -unltd, 10-' ■> >W& '■■■■ V&P - 1 2 " . B1B 4 V FINANCIAL."-.•-"■'. •- —.-..--— — '.«-'";" 1 i ,n o c ' no k 1 EouitabloBuilding 1 :''-!; . £0.CM v " ; . '«600 '"5" "B 1 ";: : io> ' 6 ." !?.'!?2? ' 10 418 9 Metropolitan Building, Vi 21.000-,.- '!6,220 10 nil ' 7 : > •••'•■ - ■• '•«•«•"» ni9 n r. (1 n Wellington Invest.;- -•*• 60,000. ■: -3,033 } * ■ 6.' - l.-^,': ::;?}„:! B«8 Wol'etonTrust<tLoan ''101,250'.- Soteo'l >'S ' '■ ""B-" l-'J-J.'.' 36 0 'fill National Mortgago-- ■ MO.000 112,250 ■. -2 ■ .«. S--. .10 .? o-S '•'•,' nH 1 D 6 '415 0 : N.Z. and Kiver Plato - 30O.COO 231,303 1 nil 7 103 l.-» ." * *> ° Loan and Mercantile - 135,223 157,358 j Si 6 ,- -■'■..{-r.. ..... -Auckland '■' -; '- 160.370'; *\M5Si "ii'' ;M \'' 15'- :li y i'' 0 R ■' ■'• Christchurch .-.:.:. ]E,0CO r '...65,087'-,. ."''6, .» nil,;.;. ,10 ■'rfW 0 '-' :> ««■'« ''oil'-O Foilding - .--•.•10,605 -. 103- ■ -:-l-. -- nil -■ • 016D ;; ,£1H ° ■ . Giaborno - . . 17,100 ' 0,239 1 nil 12V ' . " ' ' Hawera ■-.-.'.■-.-. 8,250 745 i -i 10 Tin~Z~Tvi~~i\ ' > : • : . New Plymouth . . 16.CO0 8450 5 nil 10 7 " 6 P „ Napier ... . . . \. .... 10 nil. 15 £ ,„ „ ..' ■:- - . '.fflJBTJ- 22,517 : 5; 5-.. 15;.; ;V''. J . PalmerstonNorth '. 27.C00 U.C93 4i i . 10. i„ n n Jib n e G n Wellinclon . i ■ w<M in -nil i ■ on' .18 150. 10 0 0 18 Jo. u o i> a vemngion - . ]2W7() 57083 1U nil '10 „ ? fi g 10 o » J-;6 5 6 8 "meat. ' ,.'.-,;.':::.T''.';;..'-. •;;,: sr: .....:.»• .v.-:: "" n ..' n ■. . ■;, : Onterbnry - . .. 163,727 ' 50.074 7J- - , 8 ,.,. „ ,° ,Y, „ ,„,/, > 71 „ j Christchurch :.':•'.'1;.!': 165 020.: .Zti&l" ..10. \3uC "."s; .WW J, '; W ; W ; 6 -1010 0. 712 i '; : ;. .' 02,coo} 9S - 26 K.j:,;!:;.1^^ — 2 .:.-■■ .' "lUngton Meat Exp. ) '/.. j.'is" |nil..'. t"-'. c „. '? 1 5-? n'Vo- r b s ■>!'. '■'•■.'I ..1n!i7(isl' :.[« -.'-4 ..!■■'• tR- r.6-0 0 5 2 6 ,.B 2. u- c 5 b ... ..'.„. 105.7B5J- . E3.T67 K .. £ *.- ,,^. A , ■.■;B- 6 y 6 . j;3 7 6 .■ 3. 7-..0 65 4 WanRannl .i !;,:..' '"....'45,850 •" ■•':ll,40i ■ .."6 'Mi, , '.-a '•«'> ' •■•'i ■'•<."'.n "'I -• TRANSPORT. , ••--■ - -"■ /■ r - "l " „; "." . •„ ■■„. „ „ - „ R ■W.iM.RailwayJ.' '■- '170,000 " :'121.453 ZX'. .)''■*■';■ .7': V?.! J .? { ° f ' c s i K.Z. Shipping. ... -.473,640. 113,751 .-,8' nil. 5 „6 6..0.- y6,.6 0 .6 5 0 680 ■Onion Steam---' -"'- CCO.OOO- -472,593 10 nil. 10 20 JO; 0: 21 °- : ° 20 " 6 41510 . Wgtn. Steam Ferry.... 46,250... .... v 65-T' 1. .nil. . ,V- 6' .P.? 8 '.Q.i , VP 18 .'. 0 ,:\Vestport --.'".. . ££0,OCO. ; , V BV'' V 'is'*- rijie 0i -,7.17":o 716 0 ,614 7 lanpiri- -'.'"■' fc2,5C0 ■ '. 6,339 :V-.'loniL ■ 7j 019 b„.. ;0'10.0 WOOLLEN. ■ -i •■■ - -/-T-.:.. ■- . •, .■ • . i .' .-•-. Kaiapoi-'-'■"-"-- 100,003 ■8i!^5i v 5, ' niL 6 ,„ '; •'! " : ■ Mosgiol- .. - . - 183,457- • 17.-212 -, -.31" . 11 4, -319 0, ". .'« „ c «- Wellington - - '■ - iO.000 24,363- i 1 ' ■ 6--' • • 210 0 :-S ' '. 7 » 6 MISCELLANEOUS. '..-.')■ . v ', .. ".;':. .'. •-,■"'■ ConaghyRopo -' 47.0M : ' 10i. : ,-/..nil .... ■•-.— :.618 0, ,,. .;,:. . '.--'■:■ =5,000 87,761-" .' 1 15- 2 4'9 • 2 5 0 ,3 5 9 6 6 0 MauricevilloLims ;■ 7,000 soil'-;: 1 v , ml . • tf" S' '*' "1 " N.Z.Candle- - ■ ■ 10,000 - —U5i-10., :»!} '-,'-'' .: 10.0 0 , K.Z.Drug - :. . - .E0O.000 S4,S14,-V' •:« •■• :' A nil,- , 7 210.0, iU 6 ■' : K.Z.Popor Mills 04.755 ■ 1,177 - ' 1 -'nil' '7 ' .1 3 0: :■ 1. 3'3 13 3 60 5 N.Z.Cemont- : - - : . 40.000 . 2,045"" ~~1V nil " 8' 110 6 111-6 , Manning&Co. "• . - 96,CO0 37,670 4 .1 10 3.17 6. .. - ,. Ward&Co. - . . - 80,000 .. ,.'30,655 . ,4 ,.1.,,.10 .4,17 6 ...6.20 E0 2 ? ,? ° Wgtn. Opera House - 18.630 1,705 '■'.«- : nil s 615 0 f"6 0 7,0 0 5 14 . Vgtn Fresh Food - - 28,261-1. ' '!•—*-■ -i-l • ■■nulii.-. ■_...•...•.-. . .i > , >, ■■' WhitcombeiTqnibJ- '■ 46,250.. -S0J53 5, nil, , , ]0 4 6 ,0 . 0 '.'': Bharland.Tiimited "' 48,67» .: ' 9,3U ' ' 1" . ', nil ' 71 --'-'•' 019 0 .;..;..,:■:'