THE SHARE MARKET.

Dominion, Volume 1, Issue 216, 5 June 1908, Page 10

THE SHARE MARKET.

' ' There is always dullness in investment sliares after a' holiday,' and. yesterday proved no ex- ~ ception.y No' sales ; were reported, but there were again a.fair nnmbcrof buying- ordeis, ' giving promise of business in the near future. Bank shares woro extremely quiet. Bank ol i New Zealand - shares -were quoted at .£9 _'2s. Boilers, financial shares were unchanged,-but there were more sellers than,buyers. Welling-' ton Trust and Loan were wanted- at 9s. 6d.,and theretwere sellers of Wellingtoiv Ileprait, ' at 9s. 3d., National Mortgage at 615., New Zealand - and'Eiver .Hate at.32s. 3d., and Loan ■r' and" Mercantile at 55." Other quotations - were- , : Toilding Gas,-sellers, 20s. 6d.; Wellington Gas, : .£5 pai(l-up, buyers, liilO: 25.; South BntiMi, ' sellers,■■-"JE3 -17s.'; Christchurch Meat, buyers £10 v 2s. '6d., sellers.. £10 55.; s Manawtau vßails,', ' buvers, i! 2 7s. 6d.; Wellington Woollen, buyers, '• .-C3" 65.; D.LC." preference, sellers, 225.; Ley--1 land-O'Brien Timber, sellers, 435. ; N.Z. Drug, sellers, £2 lis.; Sharland's, ordinary, buyers, ,195.; Taranaki Petroleum, buyers, ss. 9d., sollew, 7s. 3d. ; ,

'. THE MINING MARKET. A fair, amountLof,.business; was done in V this have 'improved on .tne dividend announcement, and -sales were made : up to £2 7s. ..9d.. cum dividend,' equaLto ,£2 ; 6s. 6d. ex dividend. These shares ought now to experiences steady upward movement.. ,Yesterday's. quotations wero as ; under.:-r ) . . £s. d.' .£ s. d. £s. d. Big Rivers.(cum) V;. —— 1-6 0 Tairua BrokSn Hills 0 3 0 0 3 4 - .Wailii Grand June- ■ '.• ; tion ... - J. 116 0 ■ 116 6 —— Tangiaro .. ... ■, ;00 8J —— 00 8J Blackwater'. Eeef -• t 13 >6 -.Sunbeam —: —: (J J 'J." ~ ■' / Wailii Consolidated ' 0 2-7 • iVaihi (ex div.) _ 9 4 0 9 5 0 - - >. I'alisman (ciim)276 279 2 7 3 BANK OF NEW S SOUTH WALES/ The 115 th half-yearly report'of the Banlc of New South Wales, covering the. six months to • March 31, shows that- the net profits, after .' ' providing . for . the usual charges, . bad debts,' I and • fluctuations in the Vvalues of investments, j ■' ' amounts to i 5156,741, as'compared with 582 for'the iorresponding half of last year.' - With the balance from the; previous term, a • Bum of was made available, of which the dividend, at the rate of 10/ per cent, per annum, absorbs .£124,899. The sum of .£,10,000 ~ has been'added to the reserve fund, which now ; stands at ,£1,530,000, and the amount,carried forward is .£33,988. The jprincipal items of the balance-sheet are:—Deposits, £26,929,331; bills' and . advances, i' 20,737,153; .;■ notes, .£1,063,124; bills payable,-iC3,575,535; and, .liquid assets,. ' J614, Contrasted with the figures of a year ago; deposits are higher by ,£G93,9Sf>, a less pronounced increase than for:years past; liquid assets are only '.£23o,37o'. ; larger~in.',tho aggregate, but tho ' inereaso in coin and bullion, clo:, on this* side amounts lo .1:1,512,718. _ A decrease is shown in money, at call, and bills receivable in London; this no doubt-bein^' due' to the Bank preferring to retain amplo funds locally for the extension of- its ..business, in. .: ■ Australasia. ' Advances have increased by i 11,255,401, partly duo to tho lessened returns from , the primary industries.

COLONIAL MUTUAL LIFE. The report of the Colonial Mutual , Life Assurance Society, Limited, for the year <1907 shows that the new business' was much larger than in 1906. The new business written last year totalled 4853 policies, assuring £L,278,034, as compared with 4525 policies for. in 190G, the ■ average amount of the policies last' year being ,£263, as against ,£255 in 1906,, andi £250 in 1905. The now premium income secured last year totalled ,£52,264, as against £•15,424 in: 1906, and ~£35,608 in ,1905. .These agures disclose excellent progress. The claims by death aggregated'.£ll6,9s6, as against i£i43,-" 213, and the endowment claims . totalled ,£75,-. 479, as'compared with ,£94,233. The total income for the year was .d£483,48G, 'the largest, in the history .of the society. Other- items in the balance-sheet show cash' and deposits, £175,207; debentures, <£315,324; loans on mortgage, .£1,218,394; and loans on policies, ,£287,-. 109. Tho total funds have been increased from £2,982,018 to .£3,077,126, and - the .interest per cent, on tho invested funds was M os. 3d. ' OIL AND SOAP. ■ It is reported that for some .time past negotiations have been in progress in the direction of concentrating the operations of the Standard Oil Trust in Australasia. ' It is understood that tho organisation known as the Colonial Oil Company .will bo merged into ;..that ,of t, the. Vacuum Oil Company. The latter 'coricerri has : hitherto handled only lubricating oils, but it will shortly add to its business a departmentfor the sale of American kerosene, petroleum, turpentine, spirits, etc. In no circumstances, it is stated, will the meditated change make any alteration in the present methods of marketing 1 and handling American White Eose kerosene so. far as tho distributors,- are conjoined. , \ '

ilessrs. Lever Brothers, of Port Sunlight, have acquired the extensive business of B. S. Hudson, dTy soap manufacturers, carried on {it Liverpool and West Bromwich. This business was established over ! GO years .ago by the late Mr.'Robert Hudson,'and a verylnrgo number of .■"employees-, are engaged -at ' .both towns, but . they, will not : bo affected by the' - change in '"proprietorship. It is understood that Messrs. Lever, will carry-on the works st Liverpool and. West Bromwich njithout change, and that they will romain under distinct management. . Messrs. Lover Brothers recently acquired tho "Monkey Brand" soap. ARGENTINE WHEAT. The increasing importance of Argentina as jl factor in the London wheat market will De rocogniscil i'loiu some statistics just published bv the consul representing that country ■j> Great Britain. Therein it is stated that;

of tho 4,858,400 tons of' wheat imported into the United Kingdom last year, Argentina contributed. 21i. per,- cent..' I,- The next supplier in order of magnitude was the United States, with 21} per cent.;-.followed by India, with 20 per cent.; Canada,.with 13;' Russia, 11}'; Australia, Si-; and other countries, 4i per cent. Tne total, export of : wheat from Argentina in -1907 amounted to 2.G80.802 tons, of which only u 1,528,078 toils were loaded in bulk, 1,152,724 ton's, being transported in bags. In 1906 tho proportions wcto 1,511,900 tons in bulk and 815,81S tons in" bags, so that the latter method has been considerably more in-vogue in 1907 :than. in the-preceding year. , This feature may be due to a lack of wagons suitable'for the transport of bulk grain, and to the inability of the growers to handle wheat except in'', bags. ;The, introduction of the system of selling "futures" into the grain trade of Argentina will necessitate the erection of elevators in;;yarious'.centres, but the large trade in ' wheat with' 'countries that aro not provided with such . facilities will ensure the use of bags for a considerable proportion of the crop. , '

' TEE -RABBIT EXPORT TRADE. .-' A ne)v.:,.project, ,-is ..now being introduced, which, if successfully - adopted, - may largely supersede freezing . in". the conduct of the export trado 'ill,- rabbits:- Under the now patent -process the-,.rabbit.-vis ..preserved -and- dried,: and returns to' its. original condition on being soaked in water .for a-few. hours.. The rabbit in its dried ...state, will (says a correspondent of the "Grocer") keep indefinitely in any ; temperature. ; .Flies -or. infection will not. touch it, "neither does it require any special treatment-in packing or transport. This dried rabbit -islessentially--a-.-pbor man's focd, and by its- means clean, sweet, fresh, wholesomo Austfalian. rabbi'ts.-can-be sold in London in the pink, of condition at less than Gd. per. pair. They can be kept , indefinitely, and cooked just like the ordinary rabbit. Tho ■rodent, moreover,, is .caught, preserved, and dried immediately, and is therefore -in a con'dition that tho frozen rabbit cannot l be even under, the,.most favourable conditions. Tho new ;preserved -rabbit will make its appearance in London'during" the present year. Tho process will, take in millions of rabbits over the-waste lands of Australia where at present' the trapper and skinner leave the rabbit in full possession of the country. Commenting on this new project, the "British Australasian" says:—"English people are not fond of these -methods of preparing, animal food; thoy like meat, etc., in fresh condition, and the. refrigerator is the p?oper appliance to employ, and "with. 28 "years' experience of its successful application to the preservation ' of Australian fresh food, and tho placing of it ■ on-our dining tables in excellent condition, thcro is no .reason,.why. tho frozen /rabbit should become 'the thing i described abovo in the 'Grocer's' paragraph, with all -the goodness dried out of it."

TIIE COURSE OF COPPER. ; .. Messrs. James Lewis and Sons, in their mid- i monthly (April) report on tho copper market, state that consumption continues to 'be"exceptionally large—thaf'bf'England for the past quarter showing an .increase over the same period last yoar of ,4747 tons, or 40 per cent., of" Franco . 2152' tons,. or 16 per cent., and of Germany for the two months of 12,360 tons, or 77 per cent. Exports of manufactured copper and sulphate from England have increased 5970:it6n9, -or.-48"per cent.Exports of sulphate for,'the. past sis months exceed those of tho corresponding months of 1906-7 by 15,753 ton 3. Of the reduction of 7675 tons in exports of unmanufactured copper, 2575 tons are to the United States. Imports to Europe from the United-States-have-increased 33,150 tons, but those • from other countries have decreased 6098 tons. From ,£59 for cash on the Ist instant standard copper advanced: next day to .£59 ' 10s. : ," but "the 'pressure of sales on''a consider-' able-scale--by a loading-firm of dealers brought , about ai reaction,.-and values gradually receded . until .£57 13s. 9d.' was accepted for cash and .j658.-2s/-'Gd;' forj'three-',months' prompt on the .Hth. currisftt. . ..Next , day the market opened strong,, and, ,with an active. demand, up to \£s9 55. : was paid 'for cash.' Closing values are .£SB 12s. Gd. cdsh and .£59 2s. Gd: three months' prompt; tho demand being freely met-by sales apparently- on .American, account. More demand on the part of the olectrical industries is reported from tho United. States; where, after the stagnation of tho* past six months, much work remains to bo done. With gradually returning confidence and very cheap money a material expansion of tho American consumption of copper is anticipated before long, present crop prospects boing favourable, the low cost of this metal now ruling offering 'considerable inducement 'for its oxtended use. 'With electrolytic" copper obtainable at £1 over the price quoted for standard, it is being I'irgely'used by manufacturers in peferenco to other qualities of copper. Tho quotation for Lake copper in New York has been reduced to .12.75 to 12.874 cents per lb. BANK OF;AUSTRALASIA.' The half-yearly return of the nggregate aver-1 lee amount of the weekly liabilities and assots nf tlio Bnnk of Australasia within tho Domin- - ion of New Zealand' from October 21, 1907, to AnriL 13 1908,, inclusive, - published pursuant to the. Royal Charter .of Incorporation, appears in ;tlio "Gazetto" issued last evening. 1 Tho' figures are as under:— Liabilities. —Bills in circulation, not . bearing interest-,JC17,'473 - os. Gd.;-notes in circulation not "earing interest,- .£145,515 17s. Bd.; cash deposited "of bearing interest 202^ 5s lid., cash deposited bearing interest, £584,983 17s. gd. Total • liabilities- within tho' Dominion, £2,020,180 Is. 9d. Assets.—Coin and bullion, Gs. 8(1. ; landed property (bank premises), ,£60,054 18s. , 5d - notes and bills of other banks, J»4,G18 Bs. 5d • debts due to the Corporation, including - notes, bills, - and other "securities, .£3,115,933 ss. ■ 9d. Total assets within the Dominion, i!3,(44,4527 19a. 3d,

THE WELLINGTON GAS COMPANY: During the, Mayoral election contest both candidates expressed tho opinion that the gasworks should bo municipalised, and undertook, if elected, to put in train tho steps for achieving such an object. At a meeting of tho Board of Directors of tho Wellington Gas Company held yesterday afternoon a draft lettor offering to sell tho works to the Corporation, on terms and conditions subject to tho approval nf tho shareholders, was passed. This letter will no doubt he received by tho Mayor to-day.

GEAR MEAT COMPANY. INTERIM DIVIDEND 5 PER CENT. At a meeting yesterday afternoon of tho Board of Directors of tho Gear Meat Proserving and Freezing Company, Limited, it was decided to declare a dividend of 5 per cent, for tho half-year onded May 31. Tho Customs revenue collected at Wellington yesterday amounted to JC223S 6s. STOCK SALES. Messrs. Dalgety and. Company, Limited, held their fortnightly srle at tho Uppei; Hutt yards yesterday, when a fair yarding of cattle and sheep camo forward. Cattle were chiefly represented by store and forward cows, for which there was practically no demand. Other lines sold as follow:—Springing cows, ,S4; two-year heifers m calf, £2 55.; aged cows, in calf, £2; aged store cows, ill 25.; eighteen months and two-year heifers, <£1 Us. Gd:; aged ewes, in lamb, 6s. I Messrs. Dalgety report that at their Palmerston sale yesterday they had a good entry of sheep and a small entry of cattle. There was a fair demand for sho«p, but grown cattle were dull of sale. Four and six-tooth wethers made 13s. 7d.; mixed -aged ewes, in lamb, Bs.; small two-tooth wethers, 9s. 4d.; medium two-tooth 10s. 7d., lis. Id.; fat wethers, 155.; cull lambs, 3s. Bd.; forward ewes, 10s. Id., lis., fat and forward ewes, 125.; two and a half to three-year steers, «C 3 14s. Gd. ,

Messrs. Dalgety and Co. report having held a most successful clearing sale, on account of Mr. J. A.. Robertson, at Mnngatoro Valley, yesterday. They state Seldom have we had the pleasure of offering a finer lot of stock, the well-known quality- bringing a very largo attendance, including buyers from Auckland and Jlanawatu district. Tho following aro the principal sales:—s2B, two-tooth owes, 15s. 9d.; 3GI, four-tooth owns,. 15s. 5d.; 350, sixtooth ewes, 15s. 1(1.; 581, four. and five-year-old ewes. 12s. 6d. to 13s. 3d.; cull ewes, 9s. 9d. to 10s.; 50 owe lambs, 9s. Id.; 225 wether lambs, Bs.; J9O cull lambs, ss. 2d. Cittle: Cows in palf, and with calves at foot, .£3 Is.: breeding cows, £2 195.; two-year lieifors, ,122 45.; steers, £2 18s.; aged cows, 30s. to 375. 6d.; bull, Messrs. Dalgety and Co., Ltd., report,:— At our Marton sale on Tuesday, we had a fair entry of sheep and cattle. Small lambs mado 4s. 10d.; cull two-tooth wethers, Bs. 5d.; | aged owes in lamb, 4s. 9d.; mixed : medium* lambs, 7s. 4d.: wether lambs, Bs. .8(1.; forward , lambs. 10s. lOd.; forward owes, 10s. 3d.; small mixed 'weaners, '12s. 6d.; fat and forward cows,. .£4 17s. Gd.; yearling heifers, 205.; mixed mother'fed weaners, 315.; two and a half-year empty heifers, £2 125.; empty store cows, 205.; small calves, ss. The New Zealand Loan and Mercantile Componv report-:—At Palmerston ■ North on Thursday, wo hod a medium ontr.v; of- cattle, and a . poor yarding of sheep. There was a rather small attendance of tho public, and bidding was somewhat slack. We quote:— Store cows, 235. Gd. to 275.; cows in calf, £2 10s. to'-£4; cows in milk, .£3 17s. Gd.; forward cows, 375.; fat cows, ,£3 10s. to .£4 • lis.;-for-ward bullocks, £5 2s. Gd. On Tuesday wo had a most successful sale of dairy stock/ on behalf of Mr. L. E. Bayliss, tho whole herd of 95, averaging .£5 per head. 'August; and September calves made from .£5 to £8; October calves, £2 12s. Gd. to £6; aged cows and low-conditioned sorts, .£2 2s. .fid. to ,£2 155.; liorso, trap, and .harness, .£33; pony and saddle, .£6 10s.; forward ewes, 9s. ■ -J,

•Cut TravßCßmt —rnras' association. ! ''' Masterton, June 4. i Messrs. Dalgety and Co., Ltd., report having hold their usual fortnightly sale at the Waipoua yards yesterday,,, on account of. Wcdnes-. , day being 'a hojidftyffr .-There y was • '*• -Vgood'-:' yarding of slieop, principally owes in lamb, which met with rather dull sale. -There was only a moderate attendance, and bidding was not too brisk. They, quote as follows:—Good forward woolly lambs, 95.-9 d.; -forward blackfaco lambs, 10s.;. f.m.-ewes, 4s.'7d: to ss. 9d.; 2-tooth to iai. owes, 10s. id.; Romney lambs, ss. Sd. to 65.; forward ewes, 9s. Sd.; s.m. ewes in 1 lamb, Bs. lid. to 9s. 3d.; 3-year steers; SA, 10s.-to v£4 12s. Gd. PROPERTY AND STOCK SALES. ■ Messrs.. C. Snow and Co., land, estate, mid financial agents, Palmerston; North, report , tho following sales for the month of May:—32l acres, Otaki, <£30 per acre; 837 acres, Urenui, 10s. per acre; three first-class household properties, Lower Hutt, <£4150; also 40 head three-quarter' Jersey • cows, at ~£6 per head, and 28 head Shorthorn dairy cows at ,£3 per head. THE METAL MARKETS. OT TELEGRAPH—PRESS ASSOCIATION —COPYIHGHI ' London, June 3. , Copper.—On spot, 2s. Gd.; three months, .£SB 13s. 9d. ' ■ 'Tin.—On spot, JJI2S 155.; tlireo months, Jj 128 10s. . Iron,' 51s. Id. , Silver, 24 5-16 d.. ' THE TALLOW MARICET. BY TELEGRAPH— PRESS ASSOCIATION—COPYiURHt London, Juno 3. At the tallow auctions 903 casks • were' offered and 830 sold. Fine mutton, ,335. 3d:; medium, 295. 6d. Fine beef, 30s. 9d.; medium, 235. Gd. The New- Zealand Loan and Mercantile Agency, Co., Ltd., yesterday received the following cablegram from. London, under date June 3:—Tallow—We quoto present spot values for the following descriptions:—Fine mutton, 31s. 6d.; good beef, 295. 6d.; and mixed, 28s. Market 'firm. AMERICAN WHEAT. SY TELEGUArn —ri'.ESS ASSOCIATION—COPYRIGn? London,- Juno 3. Tho American visible supply of wheat is 25,707,000 bushels. ',i. FROZEN MEAT. [BY TELEGRAM. —PRESS ASSOCIATION.] Napier, June 4. . The C.C. and D. Company, London, to-day cabled the following meat quotations:—Canterbury mutton, 4id.; Napier, Wellington, and North Island, 3ld. Lamb—First quality, s§d.; second, 5Jd.- Beef—Hinds, 3jd.; fores, 3d. HIDES MARKET. 3Y TELEGRAPH —PRESS ASSOCIATION—COPYRIGHT. N (Rcc. Juno 4, 11.21 p.m.) 1 \ Melbourne, June 4. In the hides markot prices of stouts and 1 kips are unchanged. . . '