FINANCE AD COMMERCE

Dominion, Volume 1, Issue 163, 3 April 1908, Page 10

FINANCE AD COMMERCE

'■■'■'■■ ■■:»■' THE SHARE MARKET:- -: - - ' Yesterday , was a strikingly, dull ; day, with • tho sharcbrokers, for: not a: single ?! .' ' : was"' reportedon' ''Change. • Values: show qio h:\ material change,' the quotations 'being: -o&nK of Newi Zealand, -bityefti ;■>s?;• Itegfe: *fW*- • V -14s.;V■•National' Banks;; sellers-'^s^ - Equitable Buliding, sellers ,£lO 2s. 6d., Loan and ' Mercantile; sellers.ss. IS.; Wellington Deposit, sellers 9s. 6d.; New Zealand and River Hate, buvers il.lls. ,6d„: sellers £1 12s 6d. ; National -Insurance,, sellers 285.; New Zealand Insurance sellers £3 175.; Christchurch Meat, sellers #10 "V •■- 10s.:: Gear .'Meat .(XI paid .up), buyers .£9145.; U sellers .£10;: Gear' Meats -',(.£l. paid ;up), buyers' : : M '95.«.3d.Y-selleM s; je2.;los.-.Bd;;'. Wellington, Meat ■ Export; third issue, sellers .£3 t>(l.; Manawatu Rails, buyers 475., cum dividend r Union , Steam,. sellers 345. 6d.; buyers .63, sellers JE3 35.; Westport .Coal, buvers £6 16s. 6d., sellers J7; ' t ton Coal, sellers 10s.Leyland-O'Bnen Timber, ' sellers -445. j'-New. Zealand<«-Portland , Cement, buyers 305., sellers 32s'.Y New Zealand ;Kpei ' Mills, buvers 225. 9<L; isellers. 235. 3d.; Ward* • and Col Brewery; shares; buyers .04 12s. Gd-;' ;■ Taranaki Petroleum,»buyers ss. 3d., sellers 6s. B'~ '.-C : :: '.y THE MINING MARKET. . No : ;busmes6 was done. in. mining scrip. •- ' . Talismans nrid Wailiis wtre' firm 'at late l rates; ? but-there-Ms a wide difference of, opinion between the : buyejs.>nd sellers of Wailii Grand '. 1 Junction, . ''.yesterday's 'quotations were as -• • . under:— . : ' 1.-w'-' >, -~. - r . : gellorar s. d. £ s. d. Talisman 1 2 12- 9 mtr& 13d(3i Waihi 9 7 0 '9 8 6 ,N Z Crown . , .i. 0 7 3 , 5 11 • Wailii' Grand Junction. ;.. .1- 2n G... 1,14.. 0. e • Tairua Broken . Hills- .- .- .. —. ,0 ,3. 6 Big Elver .. . i ». Oil j — THE WOOL SVLES / 'The'closing hours' of the L/ondon wool^ sales . ' have been made' cheerful by -the.-operations v " - of buyers, apd :best crossbreds have ■ • had the benefit of situation. jaljies.. ' • ! are said to be hardening,' but *apjarentlyjthers' ' .is no quotable advance". "The difference be- . - tween values, this year and last seen. ,'. in ,'the prices realised for the "Titi" clip; last year this clip made 12Jd., and this year 7|d., '■ a fall of 4!d. The wool -mjrket can "stand" a \- lot of ■ improvement. i v According'.to'a'correspondent-of.ithosavEconOri ■. mist" ! (Condon),j the crisis in ; '■ shipbuilding ,-' \ - ■: trades :on itho; northteastern coast ''SilcP-onbthe : ■ Clyde, -adversely : affected . . woollenf-godds/.-.with-.the result; that niatera at : . Leeds andilffiuddersfield, wero not . all their "looms going;, V. . ' ' i::'T V. : r .' : ; TAV?■ ' ' > ' /NATIONAL "MORTGAGE, v:' At the a'niiutfl meeting'of of. the: >;: 'National, /Mortgage ,'atid iiiAgency.-.;Company,. -of- ■ New : Zealand,"*;: held^iii''London on February ri- 19, the 'chairmati jstated. .th'at' the. profits were ;as good.-aa.thbs'c 'of .the, previous-year,,-jv;hicli. was" a satisfactory one. The. Reneral pi-osper--v , ity of iNe'w ; : Zealahd had hot' idiminislied; in-' J--.'' '.' ■ appeared to /have -been in an upward' direction in'reycrytliing.,. Prices- ! ■■■: ■ for prodned' of all kinds.'liad' been maintained, :V. ' : .' an d - land, had considerably"'increased in_ value. The. company's, business had'-'also"'iilcreTiseOiu, . •' "'volmnei -•'\TEere ! -'had:,''beia'-;:ft;' : .gr«ttff e M'^f' . activity in' land sales, and they had tempor- '< arily financed the buyers of several large es ; . tates, ; with-a satisfactory-profit to themselves; -<~ ;. These transactions had; ca.used a -rumour- that they had been speculating : in iarid; but there was no foundation for : any such report., ■ Whilst there had been a reamrkablo improveluent in ;tlie,..-condition of .'.farmers ~antl..'pas-i ; loralists, it could not be denied that the; prjecG of their main exports had been-pushed to'ex--treme figures,, and -some reaction must be reckoned on. The directors, therefore, had iy, f • thought it'advisablef to',''make: very fulir, pro";, 1 • : vision for contingencies. , Mr. W. S. Davidson, who. recently, visited the, f Dominion, stated that'the company was in a j much ' stronger position that it was four or . .five years ago. ■ '• ; 1 ■ ■ .

If ■ BRITISH EE VENUE. r ':The financial year v of"the• United.Kingdom I - v terminated on Tuesday, March 31, and on, i ' following day the revenue .for the year .was I-' 'made public. New Zealand's financial, year S". closed .on, the.sanio .day, and. just how -600n ! ■; the puhlic will he told of their, financial affairs. ; depends upon the goodwill of Ministers rather f>«" 'than upon the.-quickriessand business ,, promi>tiL tude of the .treasury..''officials.." 'The IBritish : ;.. .system is much'-'to. be-.preferred. -The-'reVenue j: of the United Kingdom for the year just closed . " as, according'.to- a . cabled message ■' this morning, '.£156,537,690, or c53,703,000,-in excess of the r estiniates. As the Chancellor of the Exchequer-estimated that the year would close with a small surplus; of it is., • obvious that mth'-the . increased • revenue "the- •' surplus/will be'."over>£4,ooo,ooo,' assuming that the expenditure ,'for the year has been fully lip to the .- estimates.- ■ The revenue of-tho '■>','United. •Kingdsfe..:'for.)each year since, 1898;'is'. ehown below:—'. ' Year. '-'Revenue. Expenditure. " ♦. £ '• • p. 1897- ■ ... > 103,919,835 •101,476,669 '■ " i "1838 ... >' A 106,014,00-1 . : . 102,935,994"' ' ' • '1899 ..." ;■ 103,330,193 '■ 108,150,238 -■ 1900 ... ■ ; 119,839,905 ■ 133,722^107.i> ■■■■ 1901 •• . 183,592,2G4. 1902 .... - 112,997,999' 195,522,215. • . ' 1903 ... .'■->,151,551,698 '' 184,483,708 I; . 1904 141,545,579 . 140,961,136". / 1905 ... 143,370,40* 141,956,497 - ! - ' 1906 ... . :-'143,977,575 140,511,955 . •; 1907 144,814,000 139,415,000.' 1903 ... 156,537,690 ''' 152,501,690 „• In 1897, 1898,' and: 1899 there wore substantial \ surpluses, but ;; in tho-following year, and up ■ to--March 31, '1904, which" were.' the;, years. ; affected by the Boer ; War, there being heavy. 1 " deficits. In 1905 there was a surplus of ,£1,413,907, V in 1906 .£3,465,620! in 1007 .55,399,000,' and this I.'-' ' year about -.£4,00,0,000.' The figures-for .1907-8 !. are apparently:'adjusted to give effect, to. sec-, tion 17 of.the. Finance Act, 1907, with respect : to local taxation: grants. . / K • THE WORLD'S RAILWAYS. f ' A report issued by ; the Bureau of Statistics K ' of the U.S. Department'of Commerce and Labr our shows that" in' ;1905 the railway mileage' [ - of the world was 567,000.,\ Allowing, conservaI • tivelv for subsequent "inprease,.,it'.is,..6ife to f eav that it is now approximately' 609^000,

of which ■ two-fiffchsi" 225,000 miles, is in the United. States. , By world grand divisions the chief distribution is:— / 1 Miles. North America ... ... •J. • 260,000 .*,• i'Europe""'*"• ... .190,000 Asia v' ' 1 ... -*'.''... I '' ... - ' 52,000 Africa ' ... ■ ... »• 17,000 -■■—Australasia ... 17,500 South America.;? ... .... ... 15,000 Of tho''practically : GOO.OOO \ miles of railway, in the' world, uHo 'more than' 15 per cent, is within - tropical.',;and,'subtropical areas., i'Tlie greatest,".length.."of- railway <in any tropical „coiiritry,. is,'.that, (including Bunna). "30,000 f miles ; While' 1 tropical ; and subtropical South America,' lias 15,000 miles; tropical and : subtropical; Africa,-1-1,000 miles, Mexico , and Central' America" 13,500 'miles, the West- Indian ■Islands 2500 miles, the Dutch and French possessi6ns in the tropical Orient about 1500 miles each;, tropical and, subtropical Australia; about 1000 ; i miles,-iSiain the Philippines about, 200 miles, and Hawaii territory about r IOO -miles.. .. ' . , MOTES. Sharebroker's , experienced ,a\very dull day yesterday.- .There was no'business done in or, mining scrip.' ,The revenue of the United, Kingdom for tho year ' ended March 31' is given as or —£3,703,000 above the estimates. .J\<'i 1 ; '}r .The annual . Congress of - the Associated 1 ChambsM 1, 6f 'C6,mmerc,'o' I '6f 'the,' Commonwealth will be'held-in Brisbane , next month. '■, •:• ■- '• '-'-'-■At" the'-Eondoii^wool l '-sales on- T-uesday -a ■ more cheerful ;• tone' was'" displayed, owing to the operations l of American buyers, who • wero competing for. "best orossbreds. ' The revenue of" the "Commonwealth of Australia ' for the nine months ended March 31 amounted to ,£9,072,000, or <£1,757,000 A'ore than . for the..corresponding .period of the l'ast finan- ' ' Yi.-H-i'' '': ,; -■: vi - . ' "The" dVeWa'trade I 'ii'f -Victoria in February shows ' that the imports of ■ merchandise or an' increase of ■£179,236, and. the exports-to .£1,566,247, or a !• -.with:^February, l , ~1-r ' : ' /'■■■! ■" D^ingiilsOT;'ti'e"%9iotlier • Country, - imported 2,2ff1^4p,92()' t .eggs;;\ 1 v^^(i..; , ie7,134,533,. -.the-value feeing a • shaded over Jd. Here' eggs are lid., or double thovpnee they are in England, though we grow our own, and England mostly imports; ii.Butlwelhaye'?an import duty of: fiu. a -dozen (|tl. each), 'and our • consumption of ; 'thai;.usefulfiarticle,,of(-,diet is cut down 40 per ; Sifcr;--

A ; zinc trust -has'recently been formed inGermany, u embracing nail manufacturers and .dealers in,' zinc ..thrpngllout the country,' with but "^ne ; exception 1 ;' Tliff trust has determined 'that 'the' total annual production shall fco ■ limited-.;to^ : 200,000, metric' tons,' 'of which the work's . tliemselves. will:" use some 70,000. .tons . JoiuinonufAtteing 'purposes, whiliith'e remain-. . ' for. 'sale., ■ ..The ' prices: .-The' Belgian, French, and English zinc industries are to be .'approached with a view 1 to forming an, int.erijatjonal,, syndicate. . ' . , . ■

. ■ V -••• MINING. ■

, . i . \BT TELEGRAPH—PRESS ASSOCIATION.) ■ . .x.l V.c;.. - • Aucklaxd, April 2. During March the Komata Reef Gold Mining Company crushed and treated 2100 tons of, ore, ~f0r,.a., return, of .bullion worth £3027, qompared with'tho return for February'(,£24oo from 2400/tbh's).'.''This' shows an increase .both upon ■ 'the gross amount and in the average value. The total amount won from tho mine to date is ■£280,831.../During the period ending March 21, the yVaihi: Grand ,'Junction ''Gold Milling Company crushed-and -treated" 3375 tons of ore, for a return of bullion valued at =£1357 Is. 2d. This is- a-slight decrease upon the return for February, when 3527 tons yielded The total nmount'wjif fi'o'm 'th'6'faino to date is .£101,311 Is. Id. BY TELEGRAPH—SPECIAL CORRESPONDENT. i- r-vji'i- jGreymouth,-April 2. |':,Th<s''3?ibtblug dredging Company- is paying, a--2s/-"dividend; and 'Keep-it-Dark, a dividend of sixpenco. .......'.(Br.'telegraph.—press association.) . ; - .i Hoicitika, April 2. :Eossf Goldflel;ds,iLtd.i ; has received intimation ■that Maben ;and * Welsh. contractors, havo or'dered'pumps' and coippleto plant in' England. The unwatering and opening up of the mino .'will, cost" ,£50,000. STOCK EXCHANGE. (BY TELEGRAM —PRESS ASSOCIATION.") Donedin, April 2. 'Stock- Exchango ■ sales:—Molyneux Koliinoor, ls.- 7id.; -.Waihi, -.£lB. 7s. 9d. :,;: r .v r live stock markets.' -'Mr- XI-' Erneit'Leighton reports:—At my Lower Hutt stock sale, "held on Wednesday last, yardings wero heavy, and I succeeded in ■disposing of springers at from .£3 to ■£■! 7s. Cd. j.co'ws^inmilk, .from JC2 10s. to ,£3 10s.; dry cows, from ,£1 10s. to £2 7s. Gd.; heifers, from 17s. to""JS1 155.; fat cows, from JU/to jCI 10s.; stags; '£1 18s.; bulls, £1 15s. Woolly lambs made--up to ~95.. 9d; I ' passed, iu; a line of. ,ewes,/as, the ..price offered did not reach.the • owner's estimate of their value: Brake horses miide" to X2G;.light,.harness 1 horses,' from JU 2s. . to <88:10s. 'Pigs made from \Bs.i Bd. to . 12s. lid.' A large number of fowls : were'also soldiat good- prices. ; - . : . • . : ' '• " Messrs". Dalgcty .and "Co., Ltd., report that i-at their- Palmerston sale yesterday there wus a good entry of sheep and n fair yarding of cattle. .There was fairly keen competition for .the whole yarding of) sheep, which wis disI'posed ;of J'at.'the' '.following .prices Four•tooth - V-wethers,' 12s.- -10d. to 13s. Id.; small, 10s. 4d.; two-tooth wethers, lis. 4d.; ewe lambs/-small,'-'ss. Bd., Gs.; medium, 6s. gd, ; cull "lamb's. 7 SiJ" jnixed r.ulin- r^pe

lambs,'Bs.' to 10s. 3d;; fnt''and forward lambs, 10s. 9d. to lis. 9d.'j fat bullocks, medium weights, £1 10s., £7 lis.; fat cows, £i 195., -£-5 Vs. 6(1.; storo cows, 30s. [ur TEi.Eanirit-rr.ES3 association! Dunkdtn, April 2. At Burnsido stock market 2227 sheep were penned, a heavy yarding, of which there was a preater proportion than usual of fat ewes. Prices all round showed a decline of Is. to Is. Gil. per head. Best wethers,. 18s.- to 19s. 6d.; extra, to 21s. 9d.; medium to-good, lGs. Gd. to 17s. 9d.; best ewes, lGs. to 17s. Gd.; extra, to 20s. Gd.; medium to good, 12s. to 15s. 9d. Lambs, 1117 penned. The entry was .slightly below the average in quality. Prices-for prime lambs were slightly easier than last week, but poor quality showed u decline of Is. per head. Best lambs, 15s. to lGs. 9d.; medium, lis. to lis.' Pigs, 90 yarded.. A small yarding, comprising mostly porkers and baconers, with half a dozen pens of small pigs. Good suckers and slips sold at a slight advance on late rates, whilo porkers and baconcrs were firm. Suckers, 10s. Gd. to lis.; slips, 15s. Gd. to 17s. Gd.;'stores, 19s. to 2-ts.; porkers, 31s. to 385.; light baconcrs, 40s. to 495.; heavy baconcrs, 535. .to 635.; choppers, up to GSs. Cattle, lit yarded. A medium yarding of inferior qual-: ity. All kinds sold at a shade firmer than last week. Best bullocks, &9 10s. to ,£lO 10s.; medium, .£8 10s. to .£9 55.; inferior, .£6 15s. to £7 10s.; best cows and heifers, J2G 10s. to £1 10s.; oxtra, to .£8 ss. , FROZEN MEAT. (by TELEGRAPH —PRESS ASSOCIATION.) Napier, April 2. The Colonial Consignment and .Distributing Company, London, cables the following quotations for frozen meat Canterbury mutton, 41d.; Napier, Wellington, and North Island, 3jd. Lamb, first, sfd.; second, 's|d. Beef, hinds, 3Jd.; fores, 2jd. .' REVENUE RETURNS: ' BRITISH QUARTERLY AND ANNUAL, FIGURES. ■ . BY TEMX3RAPH —PRESS ASSOCIATION —COPYRIGHT . London, April 1. The quarterly revenue amounts to ,£58,039,810. Customs contributed JC7.760.000; excise, .£8.870,000;- stamps, ,£1,970,000. The year's rovenue totalled .£156,537;G90, an increase of .£3,703,000 above the estimates. Income tax yielded' ,£32,380,000. . ' ■ : COMMONWEALTH. ~ , :' V ■ INCREASE FOR NINE MONTHS. N ■ Melbourne, April 2. , 'The Federal revenue for the nine months was .£9,072,000, an increase of' J31,757,000.' . ' ; . Queensland/ .. . / Brisbane, April 2. The revenue for the nine months increased by ,£191,559. . ' LONDON WOOL SALES.. BY TELEGRAPH —PRESS ASSOCIATION—COPYRIGHT. London, April 1. ;■ Brisk sale, with more general competition. All values arc hardening. 1 i Americans' are operating in best .crossbreds. vTiti soldat7Jd.; Okania, G|d.; To Apiti,' G|d. : , J Later.—Demand .brisk, with 'a hardenintf tendency for crossbreds. Messrs. Abraham • and* Williams, Limited, have-received the following cable from London, under yesterday's date"The. sales have-closed firm for crossbreds, and prices aro Jd. to Id. per lb. higher. The total quantity held over is 80,000 bales, of wliioh 30,000 aro New- Zea-. land."" , THE METAL MARKETS. . ; . BY TELEGRAPH —rRESS ASSOCIATION—COPYRIGHT. London, April 1. Copper—On spot, .£59 17s. Gd.; "three months, «£GO' 7s. Gd.; electrolytic, J361 ss. Tin—On spot, £lii 55.; three months, .£ll3 7s. Gd. ■ ' . . - ' Iron'; 51s. 9d. j <' Silver, is quoted at 25 $d. i. • \ ; TALLOW. BY TELEGRAPH—PRESS ASSOCIATION— COPYRIGHT. London, April 1.. ; , .-At the tallow sales 1070 casks' offered" arid '918'. sold. Mutton: Fine, 335.; medium, 295. Beef: Fine, 30s. '.Gd.; medium, 28s. . .' WHEAT. The American visible' supply is 51;134,000' bushels.' - < J '. ...

WELLINGTON SHARE U8T. Llabll- riilCES. ' TieM . ■ COJTPANT. ;■ Balanc#.; SEEK,"-.3? ••" , . . rrjp ,0 - r-..,• ».;/ - PaidUp.. p orw an? faliar *' 'rtfl ' Buyer. Seller. Kal9 _ Investor. V '-' ' ■>pavttcs' ' .p £■.'■£' £ ' i 8. d» J '£ l/d. ' £ 8. d. - £ 1.3. : • KewzXnar . . tmm-. ™ . I -fr ■i.J- 1 ! 2 J 1 ? ? . 2,2 5 . national . - , 875,000 ,. «. 13.7" 6 s 6 67 6 :' 6 0 612 3 : ■ K«,ti^tr EANOa ■ ''« 9 *3r'' ''V ' nSita: .'«/ '' i"!' o . in « • JSfSS-. ■**»&*•/■ 315 0 3 IT 0. '. . : . Ptanriard _ - . • . 15,000 87,383 « ltd - :10 . 13 9 i-v.- JEanifaW^BuUding'■ *' , *50,00j' v ':* ' s ■'J 1 .J,"';' 10' 6 io I I. I I I H' Metropolitan Bulletins : 49,561' ,V, i i 7 ' h Hi ' 0 n il r, s i i , i.Wemnstoalnvost, - 60,000 ' «g» ..f •. | 6 J? » J" 5 « < 1 'WerstonTrnsUtLoaa 101.250 -uo'ia - - | = !•' « • 2 ? J « l n \ I , s \ i Rational Mortgage * - ; ';S<XM*» ' "RjSm ' • l " -JO - 3-1 0 " ? in 2 ,*,?'! *f .f,? ;v K.Z, and Eivcr Plato " '300,000 ' • \ 51 , 7 J "-'J ■ n ? 5 Jsn J " 'A.;;',. f Loan and Mercantile 135.2S3 : 315 ; 1J3 ...» 1 ' < 0 6 0. 0 5 1 0 5 0 10.0 0 :• . - 1S0.373 JJ'jjS jj IS ■ . . :Christchurch . - 3B2.000 1 f' Si} '" 10 " '''"" ! ' 10 0 0 5 J 1 ; . GiSa .: : ; :l?$i & ■.».» 9' ■«» 0 '210 0 6 io 0 .' 'Hnrat '• • . . 8,263- )' I .j;V. ' 10" V' i'J *'.' . i';:-. New Plymouth - • . 18,000:; H .g ?»!}- 10.. ■ - . : : : <9,9571 ®' 133 '' ...I ,:;| v ; : - .1 j | ■ ; . 1010 0 IS) 11 6 6 I 3 ». & r' l bo " "ioioo . - ' ; - r " ' ' G«ir f 1 i »+2X'*ld- "3.-9;S S10/6. '.no: 613 • • . . 'f' 00 -?;. -..A i <- • r :...-iij . 9uo 'io.o.o; : , .WelliEgtoaMeaiUxp • f ' n1 , 1 * jj i 'f'J I ' ' ' fl . R , . ■ u > 1 i 105 76S f 63,767. * !•' 8 52 0 5ao (56 n : ; . •,• • 2i_ 8 : 3 5 6' 3 5 0 6-9 3 . . Wancannl ," .45,850 I 1 ' 431 . 6 ' «" " 170,033 Jtm" ri -no. ,-,.L 3 ? A. „ 170 » ° C K.Z.Bhippini • • 4i3.8ll S'A' ' ' f, 5^9 . v.'-V Union Steam' - . 600.UUJ 17 - oJ j .J : ° ; 7i . 1»6 , " ' Vg>.Bteami;etry • . . . W® ) . • w 1 B ' u 6 ,V • • : Wi s tport° Ar -' SSO.OO) « - £ ? li 124 6 IS 6 70 0 . ' » « 0 6 0 0 ' - . -V- . 5'3« 1. onil. 7i . :1 o 6 , 1.0 6 10 6 7 16 WOOMiES. - „ 0 ,. : K •' M. ' ,it ,i 'tr I -3 oo;,.,3. 36' 3 10, X ' V-' • V - ''itif&M' ■■ '■'■■■ <***,-: ■ k "30<0 . 3 3 0 .3 3 0 *1S i iJlrtUJ£r>GAriEOD3. i ■ V, - -v- •_ j, • ' • \ ■ . ; «. "i*i Vll 9 ,» s r..lianricovilloitjimi „'■ - -■ .!.v.-.7,0jJ..,i i» i-;V. . F .h.Z.Oaadl«- • . 10,tXIJ ' 1U ; . ' l«.li:Dria5 - • S00.JJJ A' 1 -?" f 7 . 511 0 2.12 6, • 211 0 , .6 3 . 0 >!.Z.Cment-!, —, \ V. T ~ IU '0 ;112 0 . ! vvaw&eo: - - - S0.UJJ . f „J. 10 ,- t 413..6: —1-15 0, V; . ... Wein.OporaHouii - ' IS.MJ 1,A " . * * » . . tov': s .Whk»mbo<fc*Oiab«- / ?' , . 4 8 8 • ,, Ui-, v* T 6 ; 018 9' J 0 0