FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 152, 21 March 1908, Page 8

FINANCE AND COMMERCE.

V -. ,-'•' ' TIIII SIIAEp_MARKET. ■ A couple ,of .'silos iu ; investment - stocks was : the. report at. tlie liiebting, of : ;the : -Exchange yesterday. ,-L6au>. anil' 1 Mercantile - 'had quit-'. an; improvement/oa ' the; previous/sale.'"Wellington! Woollen;'shares' .were sold/at. 63s:vtior* 3s.i below, the parity -of, . tho.. previous. llnsurar.ee shares were ,qiiiet, -'the only: demand-reported being. for NewZealand Insurance at t33 'Ms.-:' Financial; shares wero unchanged. ■; Equitable Building.;'shares offered:at .'310: 35.,' wliile bliyers bid 37\95." for Wellington .Trust' -and:. Loan', , 'and 31- ; lls., for 'New'. Zealand and .River Plata-: .Gas shares/were,, as/usual, 'neglected. • Wel-.-G10: paid;up, were on sale, at ,£l9 12s. (id. Meat shares -.vero quiet.: Sellers quoted"',£6.l2s:,; £5 25., ,and ,£3;ss.' 3d.;for the respective issues of-'Wellington ' Meat'.'-Exnort, Manawatu/Rails: were.- in steady' dsmand ' at', 455.;Gd./cuin'. dividend. - There were, sellers '.of New Zealand. Shipping;shares at 36,115.; New Zealand Paper Mills at 235. 3d., .and Sharland and Co:, Ltd., at 19s. : - THE MINING MARKET. The .feature, of. the' market- is the .continued' upward tendency of :Waihis, which were-yes-:terday ,'sold "at.-.,£9; ,Bs.' Gd., "or ;Is..' 6d.: above' ;the leycl -of: previous, sale. .Talismans 'wereagain weaker.. /' The market -:generally', was. fluiet,?;and the "following were tho"quota- .. "V...'/ : ; ', . .. ; . •;-• Buyers. Sellers.".:;' Sales. s. d. &&. d. '■ J&'s. d. Waihi " ... '- ... 8 8 6 9 9 0 .9 8: G Talisman ... ....2 11 G 213 G — ftgatiawa .... 0 10 0 13 — '" '- • H.TIIE MARKET. - : ' Much "as :;we\anticipated: the Bank" of■ ..-England discount- rate has, been again reduccd, and noiv'- stands 5 . at/3 .-'per cent: '.- Writing' respecting - tho money • market' in • -our issue of Monday,- last, we stated: "The reserve' and bullion have both increased; and the proportion of reserye to.liabilities; is npw.50.01 per pent;,' and as. the. outlook ,is'>.free' from disturbing, prospects, it .is not' unlikely tliat the bank rate wilf this, week be: reduced to, 3' per'* cent." Tho ; easing of/the/money'- market is/excellent for prospective; borrowers' on the London-market. -The'.'.State ; governments,; '.municipalities,, and large corporations- will now'; be able to :secure money.'; at' reasonabty .rates, ■ but cheip', money, 'in London is not of much good to the producers 'id ■ the Dominion, for -.'cheap; 'money' implies in ' trade, and slackness in . industrial enterprise,'/ conditions which make for the low pricp' of 'produce. ■ >

: ' THE WOOL MARKET/ . , - Cheap money' in 'London has brought about . no improvement in the" wool; market,. and; yet there .were-many.-authorities who predicted otherwise. .For 'instance, Mr. W. C. Dau'es, .. chairman,;of,'the New Zealand Loan and.Mer- .'■ ciintilev'Cbmpany,. and; chairman of' the New Zealand' Shipping -Company,' while in Dunedin on ;January 22, Stated to an interviewer:-—.' "My feeling Vis' that ; the ,agitation- as. regards wool is entirely one that-is affected by the money market. I don't think there is, any. - justification for wool'dropping in value, as be- - fore I left, the wool that was-'.going .' Home vivas -being.,sent;at ones' .the; manufacturers ■whose hands ..were -full of orders, but j;ou can quite understand the G per ."cent, banking ■'•rate..upset' the."position".'-The;.bank 'rate 'is. • now, -just hiilf- , \yhat 'it ,wns whon : Mr. Dawes '' expressed - his •' opinion,-'Vnd there lias been a ■■furthers'substantial'-.fall in valuef. ; When, such an-authoi'ity.jiasnot been ' ablo to grasp the, significance . economic happehings, -canit be wondered ..that-, those, less 'favourably circumstanced have .erred in their judgment? "Wool men "who were full :. iof hope at tho" beginning of'the: year,'now en•vtertairi - the most dismal'opinions, and . many V despair j of vSeeing;- .the 'market ■ iniproye this year. • Sudti extreme pessimism.' is. scarcely warranted. " . ' ; .1 . . ~ ' . . ' NEW YORK LIFE INSURANCE COMPANY. '■"- The New Zealand. Bra'ncli office of the New . York. Life Insurance Company, 27 Lambtoh Quay, Wellington, announce, that it' is in receipt of the company's balance-sheet for tho year ending December; 31, 1007. The;'principal'items areas follow:— , i 'I: i-•.:■ ■ & . First 1 . -Year's-/Premiums (excluding • annuities) .... , ...1,110,564 Total renewal premiums ' * ■:..• .... 15,094,536 - : Interest. and rents -..'i V'.;.' I '.' 4,402,827' : Annuities, proiit-onisalc of securities, ' and'income from all other sources . 384,223 Total .income > > ... . ... ... '20,992,150 ■ . Total payments'to policy-holders diir-.. ' , Ning 1907- :■... ;.■"■ ... ... ... ; 9,873,392 Total'expensps' (ratio of expenses to . total premiums)','-... . ... ; : 14 per ..cent. ' Admitted -assets', ... : ,£101,594,330 I- Amount of' funds December 31, 1907,.' : - over 'the'- reserve liability required:'... , bv the law of the State of New York ; ... ... " ... 10,924,166 TIIE COPPER MARKET. • -' ;The quotation for copper -fluctuates considerably, but the price seems to move between <£56 and JJaO.'- of the copper market are'worth' watching, for they indicate in some /degrees' the position : in the .United States. Tho quotations since the beginning .of the '.month are 'shown in the table appended. The, pi ices represent the London - spot quotations lor standard copper'} . Starch-3 ... • ... ... ■ ... ■■JtSt 5 0 ' March R 59 2 6: ' " March 8 ... ..; ... ' ... 56 10 0' - ■ March 10 ... .... '5715 0 March 13 .... ... 58 2 G '■ . .- March 15 ... . 58 12 6 '.March.l 7 ... 59 . 0 .o,' March 19 ... ... ... ... 59 2 6 . It is some, weeks since the price went up \to .£6O. With respect ,to the copper industry . of the United: States the ycar-1907 was couV.ppicuous for. extreme"' changes/ The, chief features were,, first, enormous consumption during. January,.- Febrnary,; and March j second, reduced • production; compensated early, in the year by'unprecedented imports; third, dc- . creased' exports for eight months, reflecting . smaller. foreign smelting because of the- pre- ' valence of the highest- prices in thirty-four years; fourth, steady ancV heavy increase for nine months in . consumption to tho smallest annual - rato in ten years; fifth, the most drastic reduction in output ever attempted; . sixth, . enormous-" exports from ■ September to reduce tho heavy accumulations of stocks; and, Inst, the development'of, now mines, with the lowest productive cofct known. . 'The year 1907 began with consumption at the 'highest rate.ever known,' being estimated at.

75,000,000 pounds: in-'Janiiary; but the reaction which overtook all business interests checked, consumption, jwliich-'fell-.to scarcely moro than ;20,000j000 /pounds "{Tcr"-inonth during the last .three 'months'Of;-the/year./ " Ofßciai:'returns :' estimate - tho ; total copper. pro'ductian/:o'C:.tl(e:;.Uhltia." States at .798,869,000 pounds ■•during; tho/year 1307, as compared with 917,505;G82:/in.. the: previous year." , , /.The following table/gives ;the copper output iOf;the . .world-' during :the years specified . /Year."/'. /,'Gross , "tohs.:.Year.'-•'/ ; Gross tons. •'•- 1839 ... 463,693 '••••ISO4 ... ... 649,300 ■' ."/mOO '486,999 ". 1905 ... 701,252. ■ -19,01 - 517,865 • 1906 ...: ... -760,000 -'. 3902 ... "... 518,60} - 1907 ... ... '715,000 . 1903 ... ... 556.143 .'■',. - . ~ / /:; NATIONAL: MORTGAGE 1 COMPANY: ' -The;! Natioiiil-Mortgage 'and''Agency Com"pany 'of/New .Zealand,'/ Limited, ;during the twelve moiiths ended-September 30 last earned > "net of.'. 335,226., j'.This was after paying all -Home 'and colonial expenses, amounting to ■£25,596," distributing "a:i.bonus- of 10 per cent, among/:the /staff, "meeting, interest (316,617) on debentures, and-making provision' for bad and doubtful.debts./ The/net profit compares with ..£31,880 earned .in-IMG and .'iSlo',2lo for 1905. Including the interim "dividend, the-'distribu-tion of profits was' at the rate .of 10 per cent: .for / the ,'year, ; arid/ - absorbed'.32o,ooo, -a sum', of ~£15,000. was:added to the reserve,, raising/ the total) to. <£120,000, 'and - «S77£o - was carricd I forward.' The . directors/ write' that ' the company's -business; during; the .financial , year was satisfactory,'' and . theprospects for .the: current year, are promising,, although the price/of •produce,-, and especially.'ithfit'jibf- land in New Zealand, continue .'to,,.bc n ,.somewliat inflated. Under these'circumstances,' the directors say, have/again' thought-,it-'-well to ' enjoin caution' on the colonial; staff in respect to ' adyancos. Capital stands at £200,000, debentures 3439,505, /sundry, creditors,' etc., at ,£353,010, and: bills. payable at 3143,231.-- Assets - include premises, plant, -and goods on-hand, ,£117,299; ;loans .on mortgage and;pronertv held. .£492,147; advances on 'produce,- .£44,294; current accounts, . 3440,511; and, cash and investments!

NOTES ■ The annual review-just • issued, shows that ;thei .Cheshire . salt, .'trade during < last year reached 583,574' tons,, a .reduction of a' hundred thousand tons, but; vrell above the, average. Asiatic shipments declined '22,000 tons, the United 'States 4000. tons,; and British North America 9000, tons. The review. states ■ that the salt trade' from : the .Mersey .labours under heavy- tolls ■ - imposed, by the iilersey Dock Board and the Weaver Trustees.' The finansituation was; responsible; for the small business to' the .United.States and- the freights and the'salt tax for Africa's position. The tonnage to .'European countries increased. now severely the Chicago tinned meat trade revelations " hit the business in- theso goods is shown .to i some extent: in tho-import returns Kingdom;'.. Whereas in 1906 we imported f a 'total ,of 53-4,467 cwts. of' canned salmon,.in.: 1907 ,tlie imports declined to 203,358 cwt.i the .greatest, falling-off. occurring in theexports from the Canadian and United States Pacific." ports. . In' canned lobsters '.the quantities imported declined: from 43,671 cwts. in 190G to 36,350 cwts. last year; while tlio imports'; oftinnedand; canned - meat fell from 487j424 cwts. to 316,507 cwts.; tinned beef alone having ; fallen from' 598,030 cwts. • in 1905 to cwts. in- 1907. - :: • . ', . i- o- recient meeting "of ,the Colonial . Institute Sir Henry Blake, calculated roughly that the cost at-which an acre of rubber in Ceylon would stand " in seve'nV. yeai's, . including purchase, clearing,-planting, weeding; and interest on .outlay, would average about .£22. What the prico might-be at the date, who could say?. But,if„,they-took-it,at-2s. fid. per lb. the ;annual gross return of 7s. 6d. per acre^vould -leave a liandsome margin of profit to;,the investor.,. There wsro at oreeent nt least ;140,000 acres planted with rubbor in CeyIj 1 ' t j C ' ' • ;the .' estimate that ho had it ,vould , m n s n u years retu ™ annually 14,062 .tons, -value i£3,937,360, .which would almost, equal tho value of too. exported in 1906 Having .regard to the: amount.of land opeiied for rubber, _it was ovident that the labour supply ;must bo mcreased by probably 150,000, and a considerable number of European superintendents and managers would be requiredT •j • . DREDGING. \ ' • (Br XELEOBAI'U— PHES3 association.) n , '• March 20. in i returns No. 1, 28oz. 10dw .; Charlton" Creek,. 240 f .; Electric, No., 2, 220z.,.0d_wt. ; Chicago, 21oz. 4dwt, 18gr.; Molyneux Kphmoor, ,20oz. 17dwt, 6gr.; Manul 9oz 6 lMivt Z " - , la * i oz Switzers, •WELLINGTON PRODUCE MARKETS. , WheNer Zealand Farmers' Co-operative Distributing Co., Ltd., report as follows-.—Maize, os.; wheat, fowls, ss. 3d.; oats, prime feed, 3s. to 3s. 3d.;. oats; crushed, • 3s. 6d.; barley feed, 4s. Gd. per;.bush:.;, Cape barley -'seed,. ss. Pv. 1 ". bush.; oats, seed Gartons, duns, sparrowbills, 35.,,6 d, per bush; Algerians, 3s. 9d. per bush. ' Pollard, Australian, JG9; bran, £G lOsf per ton; sucrosine, 200's, 15s. 6d.; 100's 8s 6d • pnnip oaten "sheaf,chaff, £o ss. at rails; hav -English grown, i£7 10s.; straw, whenton an'l oaten, && 15s. per ton; potatoes, whites, £7 10s.; reds, onions, M to i£7 10s. per toil. ■ Akaroa cocksfoot, 7Jd. per lb.; perennial ryegrass, Cs., per btfslfV;:whito clover,.Bss. cwt.; cowgrass, 100s. cwt.,'all new season's crop Butter,''-separator,,'ls.:,ld.; milled, Is.; dairy pate, lid. to Is. lb.; eggs, fresh, Is. Gd. to Is /d.'per d 07..;' factory bacon', sides, B{d.; rolls 9d.; hams, 9d.; cheese, factory mediums GJd • loaf, 7d. per lb.; honey' 60'5,,4Jd.; 211b. tins' 10s. Gd. ])er doz; beeswax, Is. fid.; funcus' ■IJd.; walnuts, sd. to Gd. per lb. 1 Porkers, 70's tg 90's, 4Jd.; 90's to 100's, 4d • heavy pigs; ■ 3d.' per lb. •' "' Cabbage, 7s. 6a. i>er sack; rhubarb, 2s. 6d. per doz.; carrots, table reds, ss. per sack Plums, 4s. Gd,; peaches, 3s. Gd, to 55.! tomatoes, 3s. to ss.' per half case; dessert apples ss. to 75.; cooking apples, 4s. Gd. to'ss. Gd. per case; quince, Vs. Gd. por ease. Poultry.—Table ■ roosters, 3s. to 45.; cockerels,'4s.' to'ss. 6d.; table hens, 3s. to 3s. Gd.; ducks, ss. to 55. : Gd., all at per pair; turkeys, gobblers Is., hens lOdl per lb., live weight. LIVE STOCK MARKETS. Messrs. Dalgety and Co., Ltd.,-report as follows on their Levin sale, held yesterday We.

had a full yarding of sheep, of which vro sold 2400 under the hammer, only one line of lambs ■being- passed. Prices ruleil ns follow Fat owes, prime quality, Us. 9d.; mixed ewes and wethers, 12s 3d.; 2-tooth wethers, 10s. Id. to lis. 7d.; 2-tooth ewes, small, Bs. lOd.; breeding owes, Bs. Od. to Us. 3d.; cull ewes, 3s. Cel. to Gs. 2d.; lambs, woolly, 7s. 4d. to Bs. Id.; shorn lambs, 4s. to ss. 0(1.; good lambs, 7s. 2d, to 7s. lid.; 2J-year Hereford steers, £3 10s.; 3year steers, £i 155.; aged cows, to >£1. The New Zealand Loan, and Mercantile Company, Ltd., report;—At Poilding on Friday we had a'" very heavy yarding of sheep. Owing to tlio wet weather the attendance of buyers waa small, and a dragging sale resulted. Wo were successful in placing the bulk of our yarding at prices-somewhat in favour of'purchasers, ana very few lines were turned out unsold. Cull ewes made from Is. 7d. to 35.; f.m. owes, 6s. to Gs. 9d.; cull 2-tooth ewes, Bs.; 4-yealxrewes, Us. to 13s. 3d.; 2-tooth ewes (small), 10s. lOd.; cull lambs, 2s. 9d.; good lambs, ; ss. Gd. to 6s. Cd.; rape lanibs, 7s. lOd.j fat and forward ewes, 12s. Messrs. Dalgety and Co., Ltd., report:—At our Feilding sale oh Friday we had a fair entry of sheep. The prinieipal'sales'were 5-year-ewes, Bs.; mixed age-ewes, 4s. 9(1.; b.m. ewes, 75.-.fid.; f.m. owes, 4s. 6d.; 2, 4, and 6-tooth ewos, Us. Gd. ' , • LONDON MARKETS. Messrs. Djilgety and Company, Limited; Wellington, have received the following cable messages from their Loiidon house, under dato of March 19:— , Butter.—Market very weak. The Copenhagen official quotation is unchanged. The total imports of butter into the United Kingdom 1 for the week ending March 14 amounted t0'90,000 bwt., as compared with 88,000 for "the corresponding week of. 1907; showing a decrease of 2000 cwt. Finest, 112s. per owt. Frozen Meat. —Since our last advices prices for mutton are highei by id. to Jd. per lb. The market for frozen iamb and bsei is firmj but without chango in prices. .... LONDON MONEY MARKET. . . DISCOUNT RATE REDUCED. BY TELEGRAPH —PItESS ASSOCIATION —COPYRIGHT London, March'.l9. . The Bank of England, minimum discount rate-has been reduced from 31 to 3 per cent. Imperial Consols are now quoted at ,£B7 155., a rise of 205., sinco Tuesday. LONDON WOOL SALES. by n:i,i:GRArn —niEss association—copykight. -London, March 19. Best parcels of fine crossbreds are 5 per cent, below January rates.,. The sales included Ivaiwarra 7{d., Itangatira 7gd. ! ■ THE METAL MARKETS. BY TELEGIIArH —PRESS ASSOCIATION—COPYRIGHT. ■" ' „ ' ' . '- London, March 19. Copper—On spot, £50 2s. Gd.; three months, «K9 10s. ■ y ■ ■ . Tin.—Oh spot, ,£138; three months, ,£135 15s. - Silver, 25 Jd. . Lead, <813 17s.'Gd.; LONDON WHEAT MARKET. BY TELEGRAPH—PRESS ASSOCIATION —{JOPYT.IGHT . ' • London,, .March . 19. • An Australian cargo sold, at 31s. a quarter. BANK OF ENGLAND RETURN; BY TELEGRAPH—PRESS ASSOCIATION—COPYRIGHJ' London,. March 20! . • Tho Bank >of England roturn issued for tho week ending Wednesday, March 18, is as under:—. . . Issue Depaktstent. ' .' Noto lssuo £57,65:1.000 Goy. debt .* £11,015,000 Other securi- ' ". : «os ... 7.43J.00!) ~ ■ - , .Gold.. ... ra.i05.000 ■■■ • '£57,654,000 ' £57.661.000 , Banking Depahtmext. , Fropriotors' Govt, occuri- ■■ capital £14,553,000 • ties .£13,760,C0! Public , do- Ofclior sccuri- ■ ■' , T posits ... 19,539,000 ties .-.. 31230.C00 ■ Other deposits ... 41,375,000 Notes' ...' 29.5C0.0C0 ■ Best, 7-day '" , ■ andothor ' Coin ... 1,410,000 ' bills ... 3,772,CC0.' . , , '

;£7D,J.:0,0CO 1 . 1 £70,2(9,(00 ■: The leading items of the. Bank' oßEngland roturn -afford tho following comparison '■'.'"-■ ®hia wceki Last weak. Last year. £ £. £ Bullion ... 59.205.000 35,580,000 34.6E5.000 licscrvo ... . ... 31,270.0! X) c0,491,C00 26,52-i.COO Note circulation 27.755.C00 27,!5/,000 . 23,0(0.030 . Public Doiiocits 10,561,000 19.2ti3.C00 16,510,000 ' Other Deposits 41,375,0C0 49,M8,000 43,176,C00 . Proportion of , , . roservoto 1 ' ' , ' . , ' liabilities ' j ... 51.86t 50.01 '44.00 v 'government securities. . ; '.'.■ The following are .tho latest quotations for Government securities with a comparison of those ruling last week'

'.:: ; THE ! MONEY -MARKET."' : : The open' market discount rate for best three months' bills is 6s. 3d. lower at £2 15s. per cent. The Bank of England rate is 3'per cent., being { per cent, lower than tho rate at last report. -. • / • 1 COLONIAL AND OTHER PRODUCE. Wheat.—The markets are dull,. Buyers aro holding _ aloof on account of enormous Argentine, shipments, but prices are fairly steady. Cargoes are firmly held; 365. to 365. 6d. is asked for Australian-December and 375. for March. Flour.—The market is dull. There'is about 6d. decline. The ■; Glasgow market is very depressed. Australian is freely offered'' at 285., with'no buyers. Nothing is doing in freights. Butter.—The market is quiet. Danish is unchanged. There is a' moderate inquiry for Australian, tho bulk of" which is. below the best quality/ owing -.- to the heat prevailing when, it was, made. Choicest salted, 110s.; nnjalted, 1145.; secondary, - 106s. to 108s. Choicest New . Zealand, 114s. For New Zealand cheese the market is dull. The quality- is : unsatisfactorv. Prices, 59b. to 80s. Canadian, Gts. to 655. Sugar.-Germa", lis.; first marks, 12s. 7d. Wool—The Bradford market is weak, and there is no. business. Commons 60's, 21d.; super, '25d. At the wool sales competition is weak and irregular,-and prices are'unchanged. There are' heavy withdrawals of second-hand, and speculators' lots. The War Office has 'fixed September 2 as the date for receiving tenders for 533,400 12oz ■tins of preserved ■ meat and 266,700,2-loz, tins for delivery in January. ' THE METAL MARKET. Copper.—On. the spot, £58. 10s.-; three months, ,£SB 17s. 6d. . ' ♦ Tin-On the spot, Xl3B 155,; three months, JGI36 10s. , . • Iron—sls. 7d. ,

WELLINGTON SHAKE LIST. -■'k• iBeaorve off • - ' • COMPAOT ■ Capital*. Fundand U- A , PRICES. TlfM .. luaiMi, . . . p„. ai j D , Balancd •• 8J"", 3 >■ : • r.ict to Forward &R Shari, rig Bnror. ■ ■ Eollor- , g a * 0- , Investor. ' • ' . BANK3, • £ • *. £ V £, /'i s. a.' i ». a. £ 8. a. f e. fl. 'Fewfceivlana. . - - ?.fc0,001 , rS1.67o 3k 3J. . M 813 0- 9,15 0 0 12 0 3. ft ft - National' ■ ; j ■ S 375*000 ■ -535.313; - .15" in ■§ 3 6 5.7 6 '5 7 0 5 32 2 INSURANCE. .. . . ' '- ' Kational .JOO.OCO : £532? •■' ' 5 nnltd. 15 ; -l 8 0 . 1'8 0 5 7 3 Sew Zealand' ■ ' 500.000 '- •••Mi 2 « g. .•■ M • •. 314 0 . 316 0 , Booth British ' . • lOO.ODO '1 44 , -30 > . 2 IS 0 .. .8 17. 6 . . Standard 75.07J . ...,1. unltd. in : ,1 2 9 , ■ FiXANcrATj. . .. ■ .'EqnitobloBaiMin!! .. •50,033 ?• ... ".J' 5 • io : • : I0 .2 6 - . 10 ■ 3 ' 0 \ .1000 g.O 0 w ; Metropolitan BuildinJ 41,101 ' ■ 5,6;8 ■ '10 nil.,.., ■ 7- . .. ' ■ : .Wellington Invost. . - ■ 1 'so.O(X)V : 3,931'. 4 & ' g' . 011 6 , Oil 9 Oil 6' 5 4 4 ...Wel'Gton Trusts Loan " 101,253 ' ■ • 6 •'■5-. 8 7 9 0.- .7 11 0 7 9 6 5 7 0 '.. NtttipnalMortSagn - JOOATO ' .2 .. a ]o 3 4 6- 35 0 6 3 1' '. V N.Z; and River Plata - .300,000'' ' 25-i.OOD ■.. -.1 .; nil 7 1 !1 0 111 9 ; 110 0 413.4 ' koannnd Mercantile- 335,221 , 315,133 I. ... bj'" ■ 5 --'0 5 0' '0 5'3 ' -0 5 3 9 10 6 OAS. - ; ......... ... , ;• Auckland ; j 60.370 .. 03,350 7 5- 'nil..' ]6 ... ' ':'...ChristchuICli-:'*.■^'^;..■■ , ■. ' ]52,OX)-'- . 65,097.. 5. . .ml r.r 10 . ..... r :.i .. 10 2. 6/ 10 0 0 5 0 0 >' '.' . : 10,335. . ; ' 103 .1 ml _ . . -017. 0 . ■ . ' ..Gisbdrho! •i '. , '. 17,SO) • 10,5il 1. 'nil'/ .'13? 7,'2 .9 9 .'.2.12 0. 2.10 0 ' 5 10 0 Hnvcrii . 8,251 7! ;j . S • i 10 . . '■ . Kewl'lrmout'i. . ', 38,003 . -. M" 9 ... 6 nil 1 '. 10 - • ; . ' Koiiier -i ■ : V '•! . 10 . uil 1 15, ...— .1 . 49.957 r . 29,183 • 5 . ,5 . is — ' - ' • '• •' '■ •' '15 ' TnlinorRtonNorE't • 17,000. 11,003 4J -i'.".. iq ,.- Velliuyton ... ' 1^'r 1 3'J nil . 13 • - 1912-6 1912 6 5 2'0 5 ' .j--- w • ... . . 917 6 ... ■ . ' '. MEAT. 'V-. '■■' ' '■■■ : ■: .. Ttntcrbury ; ' .JS3.7-27 ' 50.071 73 2) ■■ g 8 0 0 . ' ... . . . Cbristonuroh 3C?,.)3l' ■ : .'<7,i.lJr.' MU ml. _ . .e . , , v ; ,lo;.'7 6 . 1 y\Gtar : . . t6.-61 ,1_ . J.J .f 0 ! I 'D 5 13 Wellington Meat Exp ■ . 5 ml.'' "a ' :'6il30 . ' 105,753f f3,737 i 1- 8 ' 5 0 0 5 2 0 '5 S 0 « 5 6 . 2i. ;• .8 . .3.5 0 3:.5 3.3 5 0 ( 9 3 V,"ar.!'.noni <5,833: 11.431 .. TitAN'SPOR?. ■■ • ' - ' ; ; W.&M.Eiilsriir"' .. - K170.013 321,4j3- 1, ,.'4,'.7 5:5,6'. 1 . S 3 6 £3 9 i' ; K.Z. Shipping: ' y- . <73^1): lHul • --S ml.- = -5 --6n 0 ... Cnion Steim . '- - - bOO.O.)! : '' 17J.5JJ : : \-l ' nil. 1 ; ",<■$ ";:114 9- Da 'O • 1 . - V,tin.a:camFor.7 "•> i u'iL- ■ B' "r"" - - . CUAIa. • ' :!■■■■■ •; -■' .-; ? : Wostport ; , - ..'£0,001: /• '."117,215 . . 3J 1S:\. ; . nj' 7- 2. 6 1 8 0 6 0 0 luui.iii • ... li.vJJ 5.3-J ..VI > Ml.-: .' ', 3 i 0 0 1 1 0 1 0 6 7 1 6 V.00LL is. v-.'. :■... Kaiapoi JC0.031 ",3il • 5 niL 6' i.o«:ioi• ■. • w,iii. 4- 3.1 0^-"sT/a':6' e ;'inst<(n' - ''>■' ■ b'.'.OJJ. ' '■*■*■> 1'' t , 3 3 0 3-5' C ! 3 6 712 i .. . . MIB0ulUD'AN*3D r J3. - • - - "i , LonaghrKopj . 47.0W : , . .5. , mi _ 6 0 0 T v .; Leytanii iu'iirio Ico.OJj-- 3','J1 ■ ,1 15 3 3 j* ' 2 ! -4'0' .2 4 3 G 15 0 ijuuiicefiiljlj.:aj . •' - 7,oJ) -Uj 1 -U'l .. . i . , ■ :v . Iv.Z.UnmiM'- -- . 10,UJ). lu .. nil _ , ■'.,. ; '.,. " ' ,'.,... ■ , u 'KZ.DriiJs - iOJ.i/JJ. .■ ; ; "s ■ ;/ nil-.-- . ,7 ;..f.ilJi);. '0 HI 0: 6 3 0 ,V ' - w,7j ' v: : ' - 7 :--'i ,2■•.'■■lf-s S : 13 3 - COS . > JV.Z.CotlKni' • • v iO.UJJ !•«: - I- Ull - t i jj - \ J5, • '-. 'Jti.ttU ''. »; 1 '4; ' .I'".; '• 10•' ■: ' :A>aiU*^Co.-,-V • : r . . : lj' . 0 ' li vO ; 4 12 ; 6 ' ctn. OporiHo'.H) v r v ' ; .ail • - • -■■••• - ; _ .' • ' . s - Vr,tn. l- , roaUl''boJ ' - ./ fie.ytil. -' • r 1 ' ' '1 ' ' nil;." -'Zi: - " / ' r'^' ; • WnitcomijOitToiu'js-'■ \:'i\i,naJ : . .liii: ; io. » 4~-' ". y J' ; V.vi-i .; fc ' V* 019.', 0 ' D 19 0 8 0 0.

■ Variations — Price compared ' '■'With,. '■ • • • ' ■ • ' last week. • , £ b. d... 4%„ N.S.W.1903 Jan.-Jnly ... 101)15 0' 5s. lower 35 „ N.S."\Y.lfll(3 Mar-SepS ... 99 10 0 Unchanged 3 it N.S.W. 1935 Apl.-Oct. ,, 68' 0 0' -'2Cb. higbfr 4 „ Vio;iG20Jan.-July„. ... 103 10 0 10s. lower 35 „ Vic. 19214 Jan.-July >. ... 101 0 0 Unchanged '3 „\Vic. 192949 Jan.-July ... 89 10 0' Unchangod '3s ,. S.A.191G Jan.-July ... 100 0 0 Unchanged3 „ S.A. 1916 J.an.-July ... 87 0 0 10s. lower • »9m2}^}'^ an *- Jul > r - 107 0 0 Unchanged •3i m Q 1 dl9"-l-30Jan.-July ... ]C0 0 0 Unchanged J* •" $... f.O 0 0 Unchanged - HB.18 o. 5s.lower-' 3j,, N..6.1&10 Jan.-July .. joo 0 0 Unchanged, v - 80 0 0 'Ms. Jowoi ■ • , " w r™^RJ ay "£° T - £8.10 0 Unchanged i,S?^?? Iaj 'f ov - 88 0 0 Unchanged o "S='}^jS^ an 'i uy - 9913 °- Unchansod 8 •< Tas. 1920*40 Jan.-July ... fig o q Unchanged'