FIANCE AND COMMERCE.

Dominion, Volume 2, Issue 407, 16 January 1909, Page 8

FIANCE AND COMMERCE.

WELLINGTON SHARE LIST.

,THE SHARE MAEKET. ■A sale of LeylandrO'Brieri'Timber shares at • £1 2s. 9d. was made on/'Change';yesterday, and ;:.'"a. sale of.Wellington; Gas (new issue) at a,pre : ' :. -vi mium of -12s. ,Gd.: was .reported. Bank of \ New, /: ;V Zealand, buyers - .£8 : 95.; Wellington -Trust and Loan,! sellers, «£7 7s. i New /Zealand and/' Kiver Plate, buyers lis; 9d.; Loan and Mercantile, ;/ sellers' 45.; Napier': Gas :{£2 paid),', sellers £S; New/Zealand-Insurance;' buyers. ,£3; 165.; South British Insurance,, buyers £2 _ 7s. 6d.; Manawatu Rails,. buyers £2:14s;; Union .Steam, sellers M. 16s. 9d.; Wellington Woollen,' ordi-' ■:/ . . .nary, .buyers .£'3 Is., sellers. ;£3: : 25.. 6d.; .West-. '. v: ; port Coal, .'sellers £6 lis.;; ;Westport-Stocktori -. Coal, sellers 93. 3d'.; Leyland-O'Brien Timber, buyers. .£1 2s. Bd.; sellers £1 35.; .Taranaki Petroleum, buyers 7s. 6d., sellers 9s. •. THE MINING MARKET, 1 Yesterday saleV of (Talisman. at ; j62 6s. 9d. ,'aiid. , ; Waihi : at 16s. 9d -were reported. '.There was v more inquiry for. scrip; and ;the market exhibited. a.healthier tone. The-quotations were as under:—"; ; /, ' "' • ~,, ', . ."// - ; ; :/ !: /// , Buyors. Sellers; ' Sales. :• /:>'>/-;:;■?.:■/ • ,£ s. d.' .£ s.'.d. ,: £ b. d./ ' Waihi , Grand Junction ... ... 1 5 0 1 6 0 — Waihi 8 17 0 8 18 0 8 16 9 Wafotahi ... ... . 0 2. 4 0 2 6 , — Talisman , . ;.. 2 6 0 .. 2 .6-3 . - 2 6.9 N.Z. Crown ... 0 4 0 0 4 3 — Tangiaro ... : r—o 0 6. — ,' Big River ... ... 1 16 0 . ■ — MONEY MARKET. " - Referring/to .the.' money , market , in last Tues'.Vv v day's! issue, in analysing the Bank of figures at. was stated' that in January money, • -. generally easier, but the bank figures showed that rates.were likely to harden,rather ; t :: than - ease.:ln. January last-year- 1 there -were' ; v three; reductions ;of-'the Bank of England-rate, fry/ and in ■January two, reductions. The bank fate has' advanced from 2}.- to 3 per . : cent.,-" and' this movement '.may. be : attributed to. the-'extraordinary'-.demands:;for loans by . ,' foreign-Governments and muhicipa.litieSi High ■//' I - rates for nioney:in, London are not unfavourable! - 1 to New' Zealand, provided .the demand is 'due ■ to the 7 calls of . trade.-'but in" this'instance lit is no.titrade, but the neocssities.'of Governments ■ that have forced Mp the! market. The Russian . .. ■ loan of,: ".£56,000,000, '. which is to , bo - issued im- ' mediately, is bound to cause some disturbance.' , " - ;; Of .>the, amount , named, .only \ about >824,000,000 X .; represents new loan, the balance of je32,000.C0': ; being required; to! pay off .maturing; bonds held: by fl !Preneh.4investors.;.'The'..bbrrowings '.on the . part, ofGovernments and municipalities must ultimately inlke ;for-the -improvement .of trade. - Broadly-. speaking|,,,the money' is {required,for. -v .', p'ablic- works, railways|' :and national defence, and as it is- b.ein'g spent ■ iti'provides work arid : wages: for . a- great" number-of people,, besides calling for a considerable quantity of raw ' material machinery plant. . ■;, ;;-' •', . " .Tlie Custom's revenue collected at Wellington yesterday amounted lb .£1416'95. 9d. ! ' ....

Gd. ; f.m,'ewes, Bs. Bd. to'lis. lOd.lambs, bs. ■7d: to 10s.; : twei-tooth rmixed ewes, to lis. ■ 3d.: .Cattle: Empty heifeTS, £2 to;X2 155.; two-year-steers,: to J3 55.',-fat bullocks, to £5 10a.; mixed-yearlings (poor), 255. ; ' Messrs; Dalgety - and Company, Limited, re-, port ;on';their fortnightly sale at the TJpper Hutt yesterday as 1 follows:—A /full- yarding br both.sheep.arid cattle; about 2000/ of the. former ;arid',l.so or the.latter being yarded. .There. was a good- buyers,/and 'competition;, was keen throughout the. sale, (ill. the sheep tisd most- of the eattle being disposed oflat pricis /that, compare: favourably with those realised at ,the''''larger.- centres.'; Prices: were as-'follow:— Butchers!: ...wethers, : 12s. 6d.; 2 and 4-tooth wethers,' lis;- sd. to lis,'. 9d.; 2-tooth."ewes, 10s. 9d. ; woolly lambs,'6s. 3d. to 9s. 2d.; cull lambs, ';Bs.'.6d.f fat cows„'ie3':Bs.'' toM 13s. 6d.; ! spHngiug heifers, £3 15s. 'to 3-Vear. lieiffei;i£3 ; 15 r month heifers, ■oeiv-.75.; eq'.'i'-"2f' ! to 3 : year steers, .£3 _13s. 6d. ;, 2-year steers,' ,75.; vealers, 155.; i pigs, slips, 14s. 9d.; hacks, i! 6to £7.105. ' ■ : • . /The ' New '/'Zealarid Loan ■ iirid'' Mercantile Agency.Company,/Limited, report-as follows:—.. "At PalmeTston-Northvon .Jhnrsday/ wO' had' a good. entry -of cattle,' ' consisting' pr jnoipally ■ of groivn! steers, but only, one pen of sheep came forward: There was a gdo'd; demand for; cattle, resulting in all; lines /being quitted, with the exception of "one small; pen of. steers. . We quote/:—Sheep: Lambs,/Bs. 2d. Cattle: Vealers, 14sJ; heifers, in calf,;iG2 5s. 1 to £2 10s.; cows, and; calves,'.£3;. forward cows, 'j83.55.-to J63 -165.; fat cows,, £i -lis.";' two-year steers, £3 10s. to £3' 15s. ,-' two and , two'/arid a half-year "steers, ■/iE4 2s.'6d. to 45.:'6d.;. two and a half-year steers,' -£4.155:; three-year bullocks, '£5 10s. to 14s.forward.■ bullocVs,'•'M fis.; forward Polled Angus liullock;, Bs. '/. v The -New.-Zealand Loan; and Mercantile. ' /'Agency./Company,,/Lt'd;. : /report:—At our Feilding/ sale; on/Friday, tuei-e,; was a; good demand for-both sheep-and-cattle. Rape lambs sold ' freely,' -and the past: week's ■ rates were: fully - -maintained; We' quote Two-tooth wethers, / small,'.- 10s.' Bd.two-tooth ewes,. medium, 12s. 3d.; good: r wbolly.rape/lambs,' 10s.; flfteen-mouth heifers,: 31s; 6d.; forward cows, »i! 3 6s. / / Mr./ Newton King's; weekly, auction/report, ■ idated-Jariuary- W, is as follows:—At- Stratford on'/Triesday.' .-there. was a smaller yarding/.of . cattlo'than usual. Store cows were' in good .demand, arid sold at full values., Big steers did .not/meet' with-much- inquiry, but. twelve to eighteen : months. were, nearly , all quitted, at the hammer. Yearling,/steers made. 335. to 48s. 6d.; heifers,. 275. to,29s.;6d.;'store cows, 37s.;Gd. to 555.; ./forward' do.; 3s. to <£3 125.; fat 'do.;- w63 17s. 6d.' to £i ,4s. ,* bulls, £2 17s. to .£3 I IDs.-;'/■;' : - : • ! '/ '- ' ' Messrs. Abraham;.and';Willia.ins, Ltd.,- report ,on their weekly,,sale held ; at Eketahuna yester- ; '^/:^. : entry of sheep, .com-; 1 prising about 1400 sheep,'mostly wethers and ; 'lambs,' was submitted. / Business at auction vras animated, -but' the preserves 1 , in a number of casos were high, and a few- pens were. passed . at 1 auction, the; bulk .finding purchasers after :the '/sale./// Our-: cattle/,'were confined to two or . .'of ;which were sold. ... We .V;quote':—Sheep: ,Two/tboth wethers, lis. to 125.; ■ .woolly rape .fcmbs, 9s.- lid.; woolly hoggets, 12s. Catfle: .Three-year-old steers, >£5 ; ■ 21-year-old l;ssrs, i84;.18-months-old heifers', 325. 6'd>

. •• WELLINGTON MARKET KEPOttT. 1 v : . The- New Zealand Farmers' Co-operative Distributing Companj', Ltd.,;report, as llaize,;ss; : 2d.; AVlicat, whole fowl, ss. 3d.; bav- ...: vley/feedi jsij.barloyiiCape seed,"4s.,3d.j.niaizo, : - orushed, 55.-;6d.; oats, 2s; .4d. :to - 2s. 6d.; oats, ; ' crushed, 2s. 9d. '-v-;.: . Hay, ,4-! to .£4 10s.; straw,".S3 10s.; pollard, £7 10s.'; : bran,.y:6; suorosine,,-iS7,'per .ton; linseed. • . . • ; oil ,cake v ;genuine, . 15s. per .cwt.-; prime-oaten, shera"'chair,. .£4 10s.;per ton.'' 3''.. .- Potatoes, ,£5 to. X 0 per ton; onions, new Globe, £1 per ton; butter, 6eparntof9d. to 9Jd., ' •; dairy, pats ;to; 81d.', per lb.; eggs', fresh, Is. , sd. per dozen; honey, 60's, 5d.; Bac'oni.' - sides' ;7Jd;, 'rolls BJd:, hams 'Bd.: per . lb.; : porkers, 70's to 9Q's 4Jd., 90's to 100's 4Jd.; bacohers, 4d;; • choppers (heavy), 3d. per lb.; beeswax, Is.' Gd.'j fungus, 4Jd.; walnuts, 5(1. per lb. . ...Cabbage, .3s. to.. 4s. per. srfck; 'cauliflower, ss» , per sack; carrots, table, 3s. .'per : sack; green, ... peas, lOd: per peck^-rhubarb,' 2s. per dozen., : Peaches, 4s. _ fid. to 65.; plums, 3s. to 4s. per / • half-case; npi-icots, ;:4s. :6d. to 6s. .per half-case; •:.i V ./. apple?, ."dessert, ss; per half-case; apples, • ' • cookers, Cs. Gil. per case. : . ■ . •• ' Poultry.—Table i'oosters, 45.; cockerels, 4s. to 55. : ;: -hens,■.'4s.'',','6d.';!ducks,ss. 6d.; geese, . '6s.—all atper pair.'. Turkey; gobblers Is.; hens lid. per lb.—live or .dead' weight. :M . ITVB stock sales) j ■ V ; . Messrs,. Dalgetyand Company, Limited, report having, held a very successful clearing sale •on account of Mr. G. Bee,'of Shannon. There was a fair attendance of buyers, ' and .'the demand, for all lines offored was fairly : keen. The following are • the "prices: realised:—Aged cull ... . ' . ewes, 3s. 7d.; aged woolly lambs, '45.; 'f.m., ; Ronmey-Lincoln cross ewes, 7s.' 7d.; woolly lambs, Ss. 1.; halfbred wethers, 9s. 7d.;. woolly ewes,'''light, 10s.; two and four-tooth Romney- : Lincoln wethers, lis. 7d.; fou'r and six-tooth -ewes,, ,125.; two-tooth- ewes,.l2s. Id.; Romney. I;'" raws, XI; two-year steers, ,£2 16s.'; empty cows, ' £2.los.';'yearling iheiferg, , 30s. ;. two-year heifers,' • X 2 15s. A few lots of sundries sold at market : rates.. ; Reporting on their Feilding sale" held' yesterday,. Messrs; .'Dalgety. and' Company, Limited,. ? etatu that there Was-a. good yarding of sheep, and a small' yarding of cattle .and , lambs. . ./Quotations:— Sheep: Rape' lambs', 9s. 4d., Bs. IOd.V and Bs. Bd.; medium lambs, 75.; cull lambs, 1 Bs: Id. to 6s. 2d.; two-tooth wethers, lis. sd. . ,to Us. 4d.; -small, 9s. 4d.; two-tooth ewes, 13s. . : .Id. Cattle: .Two and;a .half-year heifers, , : X2 135.; eighteen-month steers, 395. to X - 145.; heifers, 315.; cows with calves, £3 ,9s. Gd. to ■£3 ss. ' . . ■ Messrs. Dalgety and Company,. Liriiited, re ; port having held, their: Eketahuna sale in : the Loan and Mercantile Yards yesterday. Entries came in over advertised numbers, and sold ivell, '■ ■-■■'•especiallv sheep, and cattle which sold at late > . rates/. Wo auote:—'f'wn-tooth wethers to

BANK Off ENGLAND RETURN. (BY. TELEGEAPH-rTEESS; ASSOCIATIONS-COPYRIGHT.) .. '. ■ , London, January 14. " ,The:Bank'of England 'return, issued lor I ho Veek- ending . Wednesday, - January. 13,- is as under:— . - ■- •" Jebce Department; ./, Note Ibsuo ... £45,V03,CC0 Gov. Eecuriticsai,ols,(!oo • Other securi- • ' . , . ' ties ■ ... 7.434,000.. : Gold . ... 30.231.000 : '. ■ £48,703,000 V' ' . i 45.703.000 ~ BAXEIXG Dr.PAanrrNT. Proprietors' ' Govt. Eecuri- ' ' 'capital: £14,553.000. ties. £15,301,000 Public do-."' • Otber Escuii- •- posits. ... 5.661,000 - ties; ... 30,160,000 . Otlier do- . ' . posits ... 43,880.000 Notes .... 19,61C.C00. ' Best,. 7-day ■ , . and other ■ i " Coin ■ 2,403,003 ■' bills ... -3.4C0,C00 £67,494,000 ' £67,494.000, 1 The leading items of the Bank of-; England return afford the'.following comparison:—. "•■{ v.' -This week. Last week. Lastyear 801ii0D...., '.i. £>,749,iXM 84,710,000 Kesorve... ■ ... '22,013,000 19,091,000 -25,667,000 Note circulation 29,093,00j i0,1'32,000 28.374.00 C ; rublic Deposits . 5,061,0C0, 7,551.000 4,476,000 Other Deposits ; 43,680,000 47,316,000 44.548.Q0C I'roportion of • reserve to v 'liabilities... '. 43.26 - . 36.42 G1.69 - GOVERNMENT SECURITIES. The following .are" the latest'quotations foi Government securities, with a comparison ol those ruling last week':-'- • I . Variations Prio „ co^d last week, ■ * • ■ ~ • £ s. d. '■ £&%ImperialConsolß... , ... 83 10. 0 2s.6d.lowei ' i „ N.S.W.lfl33«Tan,-July . .... 108 0 0 Uncliangcc ' 34 „ K.BAV.IdI6 Maf-Sepfe. -..." 100 .0 0. Unchanged . -3 „ N.S.W. 1935 Apl.-OcC, ... 87 32 6 Unclmngec , 4 „ Vic. 1920 Jan.-July... .103 0 0 Unchnngec , 3J „ Vic. 1021-6 Jan.July ... 0910 0 10s. Itlghe: 3 „ Vic.1U2949 Jaii.-July .. 87 10 0 Unchangct ) .Bi,, 5.A.1916 Jaih-July CO 0 0 Unchanget J 3 „ S.A.. 1016 Jan.-July- ... 8-1 0 0 ss. lowo: ' i ~QTdl9ls-24Jan.'-July ... ICS 0 0 Unchangci 5 3i i» QTdl924-30Jan.-July ey o 0. Unchangei 3 ... 84 5 0 Unchangci 4 „N,Z. IC2TMay-Nov." • ... 109 0 0 sa. hlghc » 3i „N.Z.lOiu Jan.'July .... ... i) 9 0 0 « Unchangei B 3 „ N.Z, 1045 April-Oct. - ... 87 15 0 ; Unchangci S \V.A.JI>2O-40.vIay-Noy„ _... 97 10 0 Uncbange> 3 - v ... 87.10 0 Unchaugo' p' pi „ Tas. 1940«1an.-ouiy •• • ~, 97 10 0 Unchango ~ o'„ Tas. 1920-40Jaa.-JiUy . 67 0 0 10s, liighe

; , THE MONEY MARKET. The Bank of England discount rate is 3 per cent., to which it was raised on January 14. Tlio open market discount rate in London for best three mouths' bills is j} higher at 2 7-16ths nor cent. - ' . . The Paris rate is 2J per cent., and thoNßerlm rato 24 per cent. ■_ ■ Short loans are quoted in London at lj per cent.

COLONIAL AND' OTHER PRODUCE. Wheat.—The markets are dull at about sixpence decline. Buyers are inactive in view of the easy v American markets, favourable news from Argentina, and the prospects of a considerable "increase in the - weekly shipments. There.is little .demand for cargoes; 375. to 375. 6d. is asked for new crop afloat, and 86s, Gd. for January-February shipments. Flour is dull. Australian in London is quoted at 265. to 275., and at Glasgow 275. for Januuary, February and March shipment. Butter—The maitot is firm, and prices for all descriptions are unchanged. Victorian butters show that they were slightly heated at. time of manufacture. . . . Cheese—The market is firm and unchanged. Sugar—German beet, 88deg., 2d. higher at 10s. 2d.; first mark granulated, f.o.b. Hamburg, unchanged at 12s. Id. per cwt. _ ' Bradford Tops—The market is quiet; 40 s are quoted at 12Jd.; 46's, at 13Jd.; common 60's, at 22|d. i super 60's, at 23Jd.; and 64's, •at 24Jd. per lb. THE METAL MARKETS./ Copper—On spot, ,£1 3s. 9d. lower at .£6l 16s. 3u.; three months, <£2 3s. lower at <£61 15s. per.ton. ' Tin—On spot, ,£2 10s.,lower at £127 17s. Gd.; three months, <£2 lower at <£129 7s. 6d. per ton. Lead—l2s. Gd. lower at .£l3 2s. 6d. per ton. Pig-iron—ls.' 4d. lower at 48s. 7d. per ton. Spelter—.£2l 7s. Gd. per ton. 1 THE HOME MONET MARKET. •, HARDENING TENDENCY. (BY TEI.EGhiI'II—rRESS ASSOCIATION—COt'YRtGirt.) London, January. 14. |. The Bank of England, discount rate, .which has ruled at 2J per cent. since May 29 last, has been raised to 3 per cent. . SILVER. 'Bar silver is quoted at 24d. per: oz. standard.' , ANTWERP WOOL SALES. (BT TEtECItAI'H—PRESS ASSOCIATION—COPYRIGHT.) London, January 14. The Antwerp wool sales have , closed. There was less competition at the finish owing to. the poorer choice; 3952 bales of La Plata offered 2400 sold,, plus 400 between sittings.

' ' 5 eso Liabi- i,S FEICES. .■ ' , Vie! -f» £s "—Investor .'•' ■ ;;v. r / * orgartt ' ag G Boycr. ..Eellof gale. ■ £ "-*V . ; i S b.>. £ "• £ =• fl - f a ' a " Sew Zealand . „• w >••• j,000,000 f 0 *' 057 , '«»' " 3 V' JO 8 9 0 6 9 6 Utttlonai ... — — •'• ii'loilM '5| 15 -J2 ( tl 6 1 B V ; 'V'' L v ' ' ■ Rational w. ..w - 100,000 .5?$?. ) 4}' is 17 6 3 8 0 1 B 3 5 6 2 Now Zealand „ — - — tow**) • *W}-- ••$ ■<•*•» -j0' 3 16 0 "16 9 ; Kouth British ...■■■ ~ tOO,000 4i' to 2 7 '6 ,29 0 . . . , ktaudard ... • •..... ... ...... - - ,',»,uW ",o» J ,. Uj jo i .g. 9 1 SI) 1 2 t> 613.1 FINANCIAL /■■i-'-M Equitable Bulldine ... •„<• ... 50.000 : 43,2-13 s 5 .10. .30.0 .0 . . '. Metropolitan Building ' isi.uoO . ' 10 ■ ■nil'. 1 . . 0 Wellington-Invest. .... . 60,1100 - a:-t 011- 0 . (11 6 Cll J S • >• .. Wellington Trust and Loan ... iul,sod ». 5 '' a . 7. 6 0 <7 7 0 7 7 0 5 8 lufcational Mortgage ... . ... . ... itXi.uJO "V 1 ! 0 u B . jo . . .. . 3 0 0 « . t N.Z. and Biver Plate — . — . tuu,uud i til b • 111' 9 1 la 0 111 3 6 2 8 Ujiiu and Mercantile ,•« •.. loa,asi ; li-U,i»a. 3 la ;■ 0 i 0 ;; •... W "■ ...V: .' : ...:: Auckland „ 1E0.370 ' CS.1B3 , nil '■ i Chriatchurch _. .„. „ iotr.000 _■ .nil m ' leilding M . ... . _ ... ' is.ujo : " 1 Cl1 - c 19 C 1 0 0 Uiauorue ... „ „ xi.buO .lOita, f lu uj Jlawera •„. ' „ ... t ,siO . s * J 10 »ew l'lymouth „. ... „• „. u,u*i i"ti 5 S . nil 10 ' Kapler ... ... , 1() ul 15 25 0 0 w » ... ... ... f ; 49.957 *3.161; j. . •> 15 1.' ... ... I .< 8 la , 8 0 0 ' S»lnieraton North . ' '27 7£o 11.093 . ■ a 10 . 710 u .• • Wellington :.. - ... u.™ /o iu' 1612 6 „ ■ '■ . • ■ . v "-;'••• I. ■ 55 iu JX 10 0 11 7 6 H 5 0 413 4 -i ME A T, : ; .C' ; ; " . ' 4 t S 0 ii! i: . r ."' •" " f '"S.i'a 1 CI) 12! 2 9 0 , . V»elliugton"ileat Export " Z ! . i .til 916 0 I. " "• | 105.765 .17,950' 4 • i # ' .5 0 0. fcWimur ;■ : ; '• -lj. I j?IS ■".' ?k a eni^o'im. ailWay '" - V-170,COO • " j ' < . ' 7, - r l4 0 214 6 .-■..■■■ v '- v ; — s'fo.biO. iia.-uo b nil 6i 612 6 r n .1 ; .til * 5 11S 0 3 16 9 116 , 6 5 41 1 5 "': ' . v: ' ; ; fa C m>?H rt "• •" ' w •- ~ ££0.000 127.431 3 j 1} 125 616 6 C14 0 617 "6 6 7 3 lUU1> " ~ Lo,wJ . >»S«W i Dil . 75 : ;■ 017 9 ' : . . . wooLLfH. ; " ■ 'V,:' '/, i: '■'/ 'ujS - W.. w ... 3CO.COO £5.654 5 nil .7 .- ~ ~ ' . to,457 , jj Ij 5 - 217 .0 «reliiU2ton ... , LV.DiKJ lo.'W 1 .i, c 3 10 iJ 2 6 .3 2 6 7 13 7 . mscELLANEous. iSSvfF&w'* - ~ TOX8§ ; 7.'S i Si! 7i 1 2 6 i 3 S i 3 9 « ?rs? Llm ° ■ ... - ... 7.UOO . blS 1 nil. 6 , 13 0 l)rS« ~ ~ ~ - t7 5 1" 6 •' 1010. 0 v s ■Sf 'Sr-wnV; i'"' ."./••• 2 nil .7 .586 .2 9 3 2.0 0 514.6 St - - - 94.775 . l,£Si 1 . nil' V 119 1 a 6 .. . . V •" » ' 60.000 . 2.C43 1 nil ... 18 0 19 0 . 1 Ward rf 1 - •" - 16,000 17.170. i 1 10 ' 4 2 6 — Wcrn ffnnrS 0 !!- ™ tC.COO' .'t4,543' i , T 10 i 19 0 5 2 6 6 0 0 .8 0.0 wIwiFSft 8 : :; ••• ' :■ lZ0 * 3 - ™ «!p.. E0.153: ,24 *24 io 4 8 6 i 10 fi :. * ... - ts.013 11.724/ 1 ; nit -7i ' v '0189 ,■■■.- The above quotations are taken from the daily official lists of the Wellington Stock "V Exchange., :