FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 21, 4 June 1908, Page 10

FINANCE AND COMMERCE.

: :THE SHARE MAEKET. 1 There was no sitting of the 'Wellington Stock ; Exchange yesterday. . , ■< ;' . • :•} CO-OPERATION. - Commercial''co-'opefaiioh, or co-operative trading, has mado wonderful ..strides m - Lugland. The progress is not "so much m the multiplication- of : co-operative.:sooieties, 'as;.m-,,the. -growth of. the business ofSithdsAm-.existence. An illustration of this expansion of trade'is disclosed'by the report of the Army andJJfavy,. Co-operative Society for the year ended February 1, 1908.. The-sales-amounted-to- - and > the miscellaneous ; revenue to : making a total of £3,158,835. Gross profits from trading and miscellaneous accounts, amounted to ,£487,571, and working expenses to Sb J, leaving a net profit of .£198,533. " These are big figures for a single society, and the Army ..and Naw Co-op. is not the .largest of .-suoh-con-'ceras. Co-operative effort in New Zealand has achieved some degree of success, but relatively not so great as in England-. Perhaps the popu- * latiott.here to admit ot-iliuch',bej.np; ■ done, 'aiiiidt ihtf.'same- time it may^betfhatJacte ■ of efficiency ,in management has not a little to ,db;."vrith".it, V. - '< COMPANY REPORTS The directors of the Northern Assurance Com* Tjanv prop6se to 1 add .£IOO,OOO to ■thc .iire ;re-'. to-transfer JESOOO to the general, liability fund, and .£SOOO to the general accident fund; .to' pay- dividend-ofn£a • per share on accopnt of. 1907, and % a bonus of 10s. per sharei in- addition to-the'instalment 1 of. :'ss. per. share - of: the 'shareholders' life'bonus,- . 1906-10, on account of .the year ISO 7. - Iheso : ' payments, with the; interim.dividend; of-\£l- pershare" declared in October last will make atotal distribution on account: 0 f the year '1207 ;of £3'lss. per share. . ' ~, ", ' The-'prosperity which has attended the working of Eabcock and Wilcox, Limited, the wellknown 'manufacturers ..of.—water-tube boilers, shows no sign of diminution; in fact, the: re- ' suits for the past year constitute a record in the history of the concern. The net. profits amounted to J8309.800, 'jwhich ijsompares with : ,£235,900 for the preceding twelve months, and while there is no increase in the dividend, which remains at the satisfactory rate of ;20 per cent., .£125,000 is placed,. to reserve, ,as against ,£120,000 a year ago,; 'and ' carried forward - is,iincreased . frmn,^2o, 900 tc J235,700. The reserve 'fuiids, with, the present ; allocations,' will, amount to equal tc ratlier more than half the share capital out standing, so that the concern.is,m,a very,com fortable'position'financially,'whilf\ there_seem to be no-evidence"'of-any shrinkage in the'vol

" ume of-business. - .■ ' . ■' _; - ' The report' "of ; the .Marconi. Wireless Tele- ' graph Company for., .the yeM.,ended^September SO, 1307r wa3 not issued until April 22 last. Inter alia, the report states that when the ' Marconi'.patents were-,originally: acquite'd' 'ih' 1837, only.be .sent. a!distance ofitw'o miles, but 'is the' result of;,-the work on" development since" that date, commu- , ' nications can now be sent 2500 miles. _ In all — the company >owns ; over<sso^pateiits v ;''-Recent patents rarei of'great'value,- inasmuch as they cover for-many years important improvements . relating": to new transmitters' and receivers, which secure increased speed and improved s syntonisation. The British Admiralty is-pay-ing £5000 per annum for a term of years foi the right of using the system.' The Marcon: / Companies are the only organisations carrying on an international telegraph business at sea the North Atlantic being covered by a netwprl of wireless intercommuication. The Compan; owns a fully-equipped factory adequate to copi ' with the expanding demand for instrument ' and installations. Over 500 wireless station have already been equipped by the Company and the number is constantly being addsd.,tc The Marconi system is also in use for liavo , - and military purposes in Italy, Russia, Bel giirm, Chile, Brazil,, China, and Siam.,,,;,

SPECIAL INSURANCE AT LLOYDS. •' For several months pastthe .bullion insuran.ee market has'be^nMrn'ost non-existent, especially as regards Transatlantic' 1 shipments. Indeed',' Bince the financial crisis in the United StateSj' when the demand for gold on that sido was at its height, it may safely be said that no'single consignment of the precious . metal has beon, sufficiently ilarge-to necessitate'a'higher pre-' mium than the low rate now pervailing. Just before Easter specie shipments New York were .resumed; and the "Room" was agreeably surprised when called upon to cover 000 from New York to London or a European capital. Such is the demand for a firstclass risk'of this, character that .the whole, amount was placed in a very: short space of time This initial shipment. was .followed: by., another of *£300,000, and this-also was covered /at Lloyds. That this class of maritime business is considered the safest of all risks' is avidenccd by the low rate of one shilling per cent., which is generally charged unless, of course the market becomes congested, and it is not likely that-tariff rates will wcreaso so . Xong as a loss is "averted. .

STOCK SALES. ' ! (BY TEDEORirH.— PKESS ASSOCIATION.) ..,, , ; '. • ' ; BtJKEDIN, 'June 3. . At the Barnside-stock market 1 152 fat'cattle rare yarded, iof gopd duality. In the( majority if cases improved prices were recorded. Well finished cattle';wero; much firmer,-and inferior sold well at last week's rates. Best bullocks, \ 10s. to ■ -£10 10s. ;': extra,',£ll 155.; '% «c...infOTor,'£6'los: to';fi7''los.; bestcows 15s. » jgQ 53 ; medium, <£5 10s. to ! $ sfef 3327 yarded.-'Prices; owing-'/to the large 3®™*; imr • were easier, especially :.for ewes. The quality in the majority of cares was medium, there liein" only a few pens of fine, withers. Best; wethers, 19s. to 215.; extra, to 2+s 3d.; -medium, 17s to 18s. i inferior, 14s. to 15s. Gd; best ewes, 13s'. Gd. to 15s;; medium, 41s.- to 125.; inferior, 7s'to'Bs. 3d. Pat lambs, 1200 yarded. Prices Bere easier. Best lambs. 14s. to 15s,;' extra,

to 1 17s!; medium,- 12s. Ed. to, 13s. 6d.; inferior, Its to l»s Pigs, 85 yarded. Suckers and slips were dull, and powers and, baeoners fixmpr. Stickers, 7s. to-93;; .slips, lis. tci Us.; stores, 166.' to l?s.; porkers, 355/ to 485.; baeoners,. 525. .to 64a.-; / '

[BZ ' ASSOC!ATION.] " ' ■ Chmstouubch, June 3. > There was a good yarding of stock at Ad- l lingtoa yards to-day, and a fair attendance if 'bujers-' -The' fat cattlo pens contained, some i rerv good sorts,, but beef was slight y, easier., i Pat' lambs' were: yarded in fair numbers, and ■ there was generally little change from the I notations given last week. A. line of four of unussdly,- good ..quality . topped the market at 20s .'3d. to;-21s." 6d.v while another line of 201 from Cust brought' 18s. Id. Store . sheep were-dull--of;sale, and prices showed a downward" tendency.'"' The entry of fat sheep was fairly large, but ewes showed a further decline.' There was a. good entry of store sheep, and with the exception of forward wethers, prices wereslightly-'• easier. - Very forward Wethers*-15s. to 16s. 1(L, and ;an extra* lineof 207 sold at 16s. 4d.; medium, 13s. 6d to 14s. inferior. and low conditioned, •ldr r 6dr , to'.'l2S.'' Ewes made from Bs. : t6"l2s- 6d. Forward lambs' "were' 'slightly easier, as' it is. rither iaterfto-.-trat them on 1 turnips. Best ,10s. 10d.,' others.B s., 9d., "whilo"baclnN-afd- : stoTes made : 7s. to Bs. lhe 1 yarding of"'f»t' lambs was ; about equal to last week and-'priceis '-were. practically unaltered, f eSc'6pt''for > laTn'bs"of'extra speoial quality. Pigs made Ms. to 18s.'Id.extra, 20s. 3d. to 21s. 6d.; 'fr'SeSeti, 14S" t0"185.",6d.; and lighter, 12s. .to 13s. 1 6d.'Th"e'-yarding 'of fat sheep.-was a fairly large one, but the. bulk were aged and unfinished- the market showed .especially-. for ewes... Prime wethers 'made'frtim o l7s."'3d: ; to 19s. Bd., and .extra.2os. 6d to 21s. 9d.; lighter,' 13s. 7d. to 175.; prime ewes, 15s. to 16s. Ud.; extra, to 18s.; medium, ■12s.' 5d./to Us. 5d.; lighter, 7s. to lis. The entry of fat cattle-consisted of 225 head of fairly good quality. Though.the yarding was smaller than those of the past few weeks, it was still abo.vei normal, and<the*price.of beef showed o ' tendency tb-'deolmi:. steers made ,£l3 ss. for best"JElo"for medium, and M for ordinary. Heifers sold at £A 15s. to J2B 2s. 6d., cows at ' for best quality. Calves, of was a, fair entry, made from is. 6d. to <£2 ids'. There was only a fair yarding of store and dairy cattlo, and the sale was Tory dull. Heifers made from £2 12s. up to :'&S"l2s. 6d„ and eows M to £6 10s„ extra to ,£8 ss. Pigs-were not entered,in large numbers, • rand the demand,- was easier. - Porkers 1 made from '375..,t0"i55".,(equal to from' si(l. to. Gd.); baeoners made from 455. to 555.) and heavy up to 65s.'(equal to old. and sjd. per lb.); suckers and weaners brought from Bs. to 12s.

. : GRAIN MARKET. f ' , (by TBUEQEAI;H.—PRESS ASSOCIATION.) c ',' . . • Donedin, Juno 3. ■■ I Oats : Owing to'.the lull in shipping inquiry 1 ■the market is barely "as .'bright as last'week, i | but sales, are effected on .'almost the same j bash'as'last'quotations. : A and B grade gar- , tons met with preference by ■ buyers. Prime j milling, 2s. to 2s. 6d.; good to best feed, . 2s. 4Ja. to 2S. sjd.; inferior to .medium, 2s. 2d. ( t °Wheat:' Owing to heavy importations the Australian flour market is depressed, and few local millers are operating even at_ a considerablevreduction on late rates. . Prime mil-ling'-4s.':7d. to 4s. 9d.; medium to good, 4s. sd. to -is. Gel.; best whole fowl wheat, 4s. sd. to 4s. 6d.; broken and damaged, 3s. Gd. to 4s. 3d. .. AUSTRALIAN. PRODUCE MARKETS. ' ft TELEORATH— PITESB ASSOCIATION —COPYEiailt. Sydney, June 3. "Whocft*' 1 '4s. 7d. 1 tlour, &.O. Oats; Algerian' 3s. • «Btl.' to 3& Sd. ;■ white; 3s. 6d. to 3s. Bd. Barley, ' Capet 4s. :9d?- Maize,,?s. 6d. Bran and pollard, ' lq Sd Potatoes," Tasmanian, \£3 to, £L Onions, ■■ • Victorian* Butter,. 106s. to-IOSs. Cheese, • 6!d to Bid.:- Bacon, Bd. [The. above. quotations .' iira' those ruling" between merchant and retailer and do 'not -represent slightly lower values : obtained by'.the jeragnised broker.] i"" 1 "*"' Jlelboubne, June 3. Wheat; &..6d.Tlour, £10. Oats, 3s. sd. Bar- | I ley good, ss.' Maize, 4s. sd. Bran and pollard, Is. sd. Onions, £& ss. Potatoes, M. 3 , , ' ..... Adelaide, June 3. r Wheat; 4s. Bran and pollard, Is. 6d. o . • LONDON MARTOIT STATISTICS. VX TELXCRA7H— FRSBS ASSOCIATION—COrTIUOUI J »* .'•■ >••'-« ' London, June 2. i- Tallow—ln stock, 14,302 casks; imports, is 9519 ;■ 'deliveries, 7306. :r Copper—On spot, .£57 155.; threo months, af XSB 7s Gd.; electrolytic, .£59; supplies, ,;37,129; it de'iveries, 32,614; in stock, 31,158; afloat, 4900. 'I'hv—On spot, JCI23; throe months, £127; stocks, 15,993; spot, J374; afloat, 5382; deliveries, 2380. rs ■ ■ . • BANK SHARES. ' BT tILEOBAPH— FBtoß ASSOCIATION—COrTMOHI. |.j- London, Juno ,2. f„- ' . ' Buyors.' . Seller's, ifi . £ s.' d. . J!,b. d. ior Bank of Australasia 103 0 0 105 0' 0 Its ii,»i- NS " Wales ••• 40 u. 0 ~11 11. U £. ~S ink tr: ... 59 0. 0 GO .0 0 ws' Hestu -unchanged.

' • THa 1 New"'s!ealM»d-B«ilway.Deoattewnt will , nffrr for eala by public auction about the nnd''Si* hf-'JiiW'lo largo number of allotments of " tod "th! Borouek of New Plymouth, includ- ' ins some valuable businer; stands in the heart ' nf the tbwni' and sovoral ■ residential sites along i the route-of the-disused line. For further par- , l^tipularß" see adwrtistaent.

.WELLINGTON!' SH'AFl.E ' LIST. ; ( - ,vV,,;v- /''^"'v':' i: 'f" r':r; PRICES. ■ Yield ■ j ' BANKS. ' " >"* , X £ UlUa ' ' '' ' New Zealand ... J... ■ s.000,000; . 81,675 8 i 31 10 1 18,0 9 3 0 9.0 » „ 3 ,♦ , •'<M. ? 375 :°°?" \- 33 ?' 318 < ,» >■-] & '* .' INSURANCE. ' ■ ■ :, ,.• . , • , . .-., in ' na i • . ... ''mM > mie9 i-Wt'i is '■ i-.s 0 J ,5 5 3 i 5 6 5 6 0 Zealand •• - 300,000 396,674 3 '8- 10 315 0 3 1« « Sk SSl "' 100,000 174,912 1 il 10 ... 1 • : ".i ' »•' - WjOOO ■ 92,386 i Oi 10 13 0 p'--'. FINANCIAL. .. ,^, v ,, . I l" '••• |g 10 Jj 012 0 on 6 5 4 4. - : Sf&S £St»a Loin ::: .£$■ \«ffi >-y- j j•• tu o 1,| S •'.'iJWSfeM-. - 200.000 ?7,™ 2 8 1 |£ 0 0 • N.Z. and Biver. Plato - ;•• 300,000 . 1 nu < . ;o 6 0 0 5 0 10 0 0. • u Loan"and Mercantile r ••• ,<.••• .* 135,222 .• 31j,133- .. j • fai 5 _ . • • "P -v " • ■ ■ AucH^^ v '' -.v': - : '' •"£?} J® - - " 10 0 0 'W J 0 5 0 0 v ChnstchurcA' - *$,000 T0 '?12. 5 Sir 019 6 °J2 £ *™ n ■ ■■■'■&&' "'"■ ■» vS' -ioji> 1 Sua 9.6. '210-0 2 10 0 5 10 ; ' a : • 8.250 • ' 694 J '' • l' 10 • , NOT l'lym° u th ... ;.; v 18,000 3,159, £ _ 10 , ? . Kapier ... ... ' ...' 49,957 23,184" 5 5 ' 15 " "• .. ' ... ... • 1. • •••9.' 15 ' ; i' Palmerston'North ... - - 27,COO 11,002 4J t J? jg 9 g ig 10 0 19 5 0 5 4 0 .Wellington■ . . ••• • ! 1.124^70- 71,788 - J 0--- g m o 0 MEAT. j; * ' :"v' Canterbury;Vic -i ' Suo S '' I 10.2 6 10 5 0 10;7'0 714 J V:V- ' Chriatchurch ... >'i. :; v - i- , 165,920. 77,642 , 10 nil-. g ;j 210 - 6 2 io 0 5 0 0, Gear...,, 92.000,S6;261; 12j r'915 'O 10 0 0 \ • L : Export... ... .Jj'/j j 5J,0 i|» ; W ; EtnsannI».. ;••• , -i ; <5.650 , ' '8 ' ' ' w • TRANSPORT. j , , ] -.'.JWOg 4'.'5 ? «i8-:6 . s « « 10 .310 v .::: S- | si* 0 135 ,° : .Wgtiu 1 Steam Ferry;- ■ 46,250 - to 1 mi u COAL. . • Vtl f^- :::: y '« 618 ° 1 ?i ° V/OOLLcN. J , ., : , . ..., •• j'!' . , ■.Kaiapol ... .... . - ••• , - • 32,854 5 . ml 6i fi !,.j , g 413 0 , \Ston" ::: ::: ::: : 3 6 0 7 6 6 , MISCELLANEOUS. : 'Y\ V' ■■'!• £'• -j . Ponaghy ... - - » ' ° ° 2 3 0Leylaad and O Itaen ... ... 35,000 . 37rtbU a ,., is , JlanxicoTille •- ... "■ m'/wi fi7fi 1(V till o . _ . . [. N.Z. Candle - • - ' E 6,to' 2- ''Sil" r'2 10'6 Ull O 2 11 0 6 3 0 !\ N.Z. Drnga ~ " . - s SfSS i«2 1 nil 7 126 126 8 S# ffi 21048 ..J nil_ ..... .1-11-0 '111 6 I >%&8F&ao. - s ]£ 1 I Ui :m-o ,«:o-8 H t »SiS£^-so" »• M ' r .' •■ . - I.:?