FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 108, 30 January 1908, Page 8

FINANCE AND COMMERCE.

. THE SHARE MARKET. . . There was no business reported in .invest-, tnent shares at the,'sitting of the EMhahge; ■yesterday, and the 'buying orders . ""tively. few. In bank shares tliere was inquiry ' for New. Ze'alands at ,£9 125.',-with sellers.at . £9 15s. National Bank shares 'were' .at £5 75., Insnrarico'shares'were-quiet,': the , ■ only quotation :recorded' being' for lahds, which/were on' sale at \l?inancial shares were unchanged, and there "were .' <again buyers of Equitablo-Building: at .£lo'3s'.; : . Wellington Trust and Loan'-'at £7 • lOs.'.n'and New Zealand and River Plate at 295. Gd. ; there.Were sellers of Wellington Investment ! at 12s. 3d., Trust and Loan at £7 12s. »6d.j . and Wellington Deposit and Mortgage.atilOsGaS shares are still neglected, and seem to bo out of favour. The selling quotations' yesterday were: Feilding Gas,' 17s; 6d. Welling- 1 ton Gas, Xl 9: and Napier Gas, £25 and £15 10s. for the firsW and second- issues! Frozen meat shares were without but tlfero / ;T>ere sellers of Christchurch Meat at £10 15s. cum dividend, Gear Meat at! £2 105.,' and. ' Wellington Meat Export at £6,v155.,- £5 25., and £3 ss. 9d. for the respective'" issfiSs". - Manawatu Rails were again in demand at 435., and there were buyers of Union Steam at 31s. . 3d., with sellers. at 325. 9d. : Wellington Wiiol- , ordinary shares were again on 1 bffe'r a't £3 10s., and Westport Coal 1 at £7 16s. West-port-Stockton Coal are now in demand at lOs.j these shares are 7s. Gd. paid up,' and are-thus celling at a premium of 33J per cent. Tliero -were selling offers of Leyland-O'firien 1 Timber, at 15s. -Gd., Mauricevillo .Lime at -225.',Sharland's preference 20s. For New Zealand Drugs there was a bid of £2 lis. There an offer for Rogotire Non-Puncture Tire Company, £1 fully paid up, at £1 2s. Gd., and for Contributing shares, 8s: 6d. paid-'Up, 10s. "' THE MINING MARKET, This market displayed a recovery, the business recorded being greater than usual, and the buying oraei\j ; -covered a wider range of stocks. Talisman were . sold up to-£2 125.-Gd.,' and are again firming. The Wellington Committee of Talisman shareholders has'done well with respect to. the disagreements with thp Board of Directors. Tho nominee of the committefi fins been elected a director, and . thn fees of directors have been cut down by £2000. It is reported that a contract is shortly bo let for the construction of tbe' powei'-house. ' and the shaft to the -l4ft- level will be taken in hand very soon. The projected" development works, together with the splendid outlook, ii . no doubt helping to harden the shares. Waihi 6hares sold-up to £S Gs. Gd., this being "a slightly better price than that obtained on the previous day.-The buying and selling quotations recorded yesterday were as under :— Buyers. Sellers. Sales. £ s. d. £ s. d. £ s. d. N.Z. Crown 0. 7 0 0 7 6 — May Queen 0 19 0 1 11 ' — Tairua Broken Hills 0 3 9 — — Waiotahi , ... ... — 0 3 5 —' South Kaponga ... — 0 0 2V — Waihi ... 8 5 G 8 7 0 8 6 G Talisman 2 12 0 2 12 6 . 2 12 3 2 12 6, A.M.P. INDUSTRIAL BUSINESS.' We ("Sydney Morning Herald j -arc informed that the new. business effected in the industrial department of : the' Australian Mutual Provident Society for'the past year has also been of a very satisfactory nature, tho amount written .being over'half a ■million sterling, representing an increase over tho previous year of rather over £100,000. This' amount, together ' with i the amount written, in the ordinary department, as mentioned in Saturday's issue, represents a total new business for the year of over £5,350,000. V BUTTER FOURTEENPENCE v PER LB. Not so very long ago butter used to be retailed in Wellington at a shilling per lb. all tho year round, and in the . summer months many grocers sold the article for less-. The shilling prico would bo ruling to-day but for the intervention of a section of butter 'dealers, who, under the innocent title of the "Wellington Butter Committee," run the local market as it pleases them. With the claims, to benevolence invariably set up in such cases,' this committee set to work. ostensibly to protect the grocers, but tho effect has been costly to the consumers. -The operations of the butter combine are simplicity itself. Tho committee fixes tho wholesale price to the grocer, and the retail price'to the consumer. Just, now these prices are ,12Jd. per lb. to the retailer, and lid. to the consumer; this ensures a profit of lid., or 12 per cent., to the grocer. This is relatively a big profit, and were the grocers free to fix their own retail prices the profit would very soon be cut down. But tiie grocers aro tied, because if any. grocer sells below the price fixed by tho combine he is refused further supplies, and under present conditions it is not easy to get supplies from other sources. The grocers, of course;--have no inclination to cut prices while they aro ljt ab!e to make such a comfortable profit. Ever since this benevolent Butter Committee came into existenco the householders of Wellington have had to pay one penny to twopence per pound more for butter than tho circumstances have warranted. Since Monday of last week tho retail price of the .proprietary brands of butter under the control of the Butter Committee has been Is. 2d. per lb., or 2d. more than it 'should be. In the preliminary puff prior to the enforcement of tho penny advance, it was stated that ' exported butter in bulk was now selling in London at 118s., which is equal to a return of lid. per lb. locally, and factory proprietors regard the exporting inducements as stronger than those of the local trade for pat butler at'llSd. per lb. This statement, is decidedly misleading. The London prico of 118s. is for the very choicest grade of New Zealand butter, a quality of butter that is seldom, if ever, placed on the local market. We have to put up with what is known as dairy _ butter and milled butter, and just now it is jiossible wo may be getting butter that the Wellington graders would pass as second grade. Secondary butter ts not making 118s. in London. This is tho principal reason assigned by the Buttor Committee for raising prices at the expense of She consumer, and, as wc have shown, it, is aot sound. As a secondary excuse wo have the drought and bush fires set forth. The fihoitag«'.of cow-feed would, no doubt, affect the milk supply, but it is singular that the price of mill; is not to be raised in Welling-' lon until February 1, or nearly n fortnight after butter has been put up. But this exMite will scarcely stand. There has been a

.prolonged, .drought 'in. Otdgo; arid':.yet -the whoiesajo" price in D.un.e'din.. for .'first grado pats is'llfd." booked,.'and to a'! penny lofrpr ithan . the. Wellington"quotations' for" sin' inferior qilality.'Vpf '.butter.,;' Really'tho Butter Committee-has no'satisfactory reason jtp n.dvanco' for, its action', and the existence of such a '.contrpllijijr irifluciiciein l our ' midst danriot;'be 'regarde'd' as''ls6nefieial''t6''t.li.e com-miinitj'.-r'lt'is;a qiiestipn 'whether the operations' of the' Butter Committee ■ shpuld ! not bp irivestigatpd : 'witli a "vie>v to v discpfprirg their, full•'effect on tho butter trqidf..' '

WELLINGTON HORSE SALE, f -arid-Co., Ltd., held their fortnigVtly, horse sale: at Mr. Keif's Abel Smith" Street,. 1 AV T ellinj[ton, yesterday, when about .fortyv. horses were submitted. The chief vendors were Messrs! TEE 'Hall' (Palmerston), H. J. Dyko, T. Lawry, and W.-H-. Johns, and some good sorts were submitted tor n fair attendance of buyers.Business at auction- was limited, but a number of sales were effected subsequently. Draught geldings', sold to =good ; light'harness horse?, c?is~to JSI9; othersj £7 10s. to =Ell 10s.; harness pony, i:9 ss.

WELLINGTON SHAKE LIST. . ... ' ■ COMPANY', Capital fiS g Eg f. ' ! V PTO T — paid Up. Manco gui Bbar0 Bqyir... , Eelior." g£ la ' ;tranter. TIAK17Q *•* * .T •'• " 1 " '' " P- " "**' £ 45' i£ B. d/-« }'■£ B« d«. £ s« d» Few Zealand . . - 2.CCO.OOO 581,675 < 5 3} 10 j 1 ? n ■<■ 2*?■'!! j H- 'til! Rational - - . 375,000 335,313 24 15 13 6 6 0 6 7 0 6 • , . 4 INSURANCE, V. , , - ... -i 7 6. •' cfl ,. National. - - ■ - rlOO.OOO 2431330 "■ 1 nnltd. 15 ? 7 5' " !■ n ,1'nn New Zealand . - SCO,000 336.785 2 8 10. . * J « witfi® r .500 Eouth British - 300,000 512,199 -J nnltd. . 30 J™.® "? S =• , Standard .. j. . - 75.000 „.82483 2 .unltd,. , 10 _ ..f,.. 3 .. *. ,.;.L , . " EquUaWo Building . EO.OOO. 4?,240 5 5 ' 10 10 3 0 10 5.0 .10 2 C, 419 a Metropolitan Building *■ ?1,000 " "1 '5,2-2); '10 vnit ' ;7 ' -ma-'* aiu n e * M Wellington Invest. - 50,000. , 3,033 . 1, ,, 4 '< ' « ,, nn !?>G ?« J ! 2 W el'gton TruBt £ Loan 101,250 ■'M',.®!' '-'5' •• 5--V' '8- ' l - ifif.2 • ! ! ? National Mortgage - 200,000 112,260 . • 2 8 10 3 J » . , » ? S J, ° ■' K.Z. and River Plato - - SOOICOO *f S9ZJOGO' . -1: '• nil r X '' -n -' t n ' - n c e . loan and Mercantile - 135.221 •. 315,133 4 61 S 0 6 0 u » » • GAS. ' Auckland - . . 180,370 f0,552 6 nil 16 mac Christdiurch • . • 152,000 : 6SvOBT>.- I>'6 'mil-" 1 ]0 '-'"')> V/ 1 0 ' ' n 17'c ni7 n' 1 ■ Feilding - . 10,803 101 1 nil - 016 0 ® 01 ' 0 Gisbomo - - . 17,100 ' 0,239 1 nil 121 u . X Hawcra - . 8,250 715 3 • i 10; ... New Plymouth - . 18,000 3.150 '5 nil ■ 10 ' 17 5 1 fcapier - . - - . ] 10 nil 15 jj.J ! „ : - 40,957 [ 28,183 6 5 . 15 . '"J ® \ ■ . . " I ' ' 1 • v 9 " ° 15 ■« v -» r k'O / 0 ralmeratonNorth ! £7.000 11,183V.. JW- ''-4,?i?'!! ' '16 0 0 i« j j . £< 0 Wellington - - 67 StS 10 nil 10 18 17 b 10 O 0 .19:,3 b B 5 0 . . . • J24,o70; , j ••••(!,. • --"a"") V? ■■ '■< "MEAT. . " . V" " : Canterbury - . • 163.727 ' £0.071 !i 24 8 . ■ .. , ChriBtchurch . - • 103,399..". .... r i7,BU_. .Jll.. -nil... J .Jg U 0 _;0 15 0 1010 0 <19 4 Gear - • Wml l 96, -261 1 nil. lij 2 8T T210 0 .2 10 0. 5 0 0 • ffi,000 i . , ,4 ■ . 6. .124 Wellington Meat Exp j nil-' *8 II ' ■» I . ; 105.760j B.76T .'•. $ 4---^-~ : -8 Ill t I I V?aiifian«i_ - 45,650 , 11,101 5 nil. 8 " , \v';&S A HaUway T '' • 170,000' ' " 1" '? ' "J f'O ,'",8; l 3''0 :"1 3. 6 S 3 9 K.Z.Shipping - • 473,81:1- -8 niL; : -'-5. -6 -7 6. - Union Steam'• -' - 800,000' ■•'172,503-i' 1 t nil. vi , .1 1 112"9 , . V'gtii. Steam Porry • , 46.25J 63 1 nIL 6 018 0. Westpori. OA^' . - ' -;.,feM00.V. /jiw'T- -'M- I: ? 6 '' 0 '' . «t4 7 ' laupiri - . . . ■. t2,50C)'6,339 1 nil. .JJ . . ..019.6 . _r,l 0. 3 ' WOOLLEN. ., *— " Kaiaroi. - • . ICO,003 £2,551 5 aU. 6 ■; ■ , iiosgiol- . - - . .t3,«7 ' 17,212 '. ...14.., . ,, 4,. . ... • .... .• Wellington . - - bSJ.OOU U4.S6J .310. 0 .,., 5 5.8 7 5 6 MISCELLANEOUS. , -. ... ; . „ ,, ' ': Donaghy liopo ' - . 47,003 . : —. .. 5 , n ':|,' — . . ..618 0 . . ,. , - •-' 6. 0 0. • Leyland & O'Drioa. ■ S5.000 ■ " 57,701 -• •1-' nil - 15 • • ; • *>2' 5 6.7 ■ * i6 -6. , 6 6 0 HauricorillaLiiuj' '••7.000 -iOS •' '' 1" ' 8 W s \ 'f 1 ' ,!|t ' '•"'l '2*0'; , . K.Z. Candle - . " -. lO.OOao: -10, K.Z. Drugs - * - (00,000 i «i'-. -.'.ml A <• £ U.-0., ;0 5 9 9 K.Z.WperMills ; ' 01,753' ' 1.17T -1' -ml 7 1 3 0 1 3 3 ' 1-3 d" 6 0 5 K.Z.Cemeufc. • . < -iOjXQ: ' 2/. 41 l ' nU • - • , ' y. -7 Aliening & Co. • OG.COJ 37,670 i 1 10 : * > '« . VVavd & Co. - - 10,000, . £0,G5S 4 1 . 10 b 5.,-p. Q , -: 8-_0 O "Wgtn.OporaHous® - 38,630 ,. 1,705'.' p. 5 ! V - .8 .. ;.j, i. > k ( ? 0. P' 614,,0. "Wgtn 1'rosh Food - , 2S,'2til , '7*- ... -: •• , Whitcoinbu&Tombs* 46,250 ' f0,lo3 6 fi}} 10 " , • febarJand, LimiteJ 4b',b'/o ' 9.3U , . 1, •« >'• • r•" • - 01S • C 1 ' 3" "8 4 ' 4