COMMERCIAL.

Dominion, Volume 2, Issue 409, 19 January 1909, Page 8

COMMERCIAL.

!the shake market. : ' :Testordfty, a sale" of Bank; shai-es at'. ■. £b Js. was inado bn 'Change, and a sale of ;Elktrppolitan4BuiwingyatJ .£l2 was reported, quotations; were 'without. variation.''Bank of Now: Zealand, buyers £8 95.; National Banks,, i6s;iki, ; ;sellers £5 26. VWellihgtoiv'Trust; [0/; and' Loan, sellers '£7. 7s.}cum 1 div.; New, Zeaj.sland -and ,River Plate,; buyers. '.£1 lis.-; 'Loan fc andv Mercantile, • sellers V3s. Bd. iNational tv:v.suianeei. buyers v£l .7s. .fid.}- New.'Zealand -In-;. -Burnnce, buyers -'£3 ; 165.; South British' Insur-; nnce, buyers £2 Vs.' Gd., ''sellers ,E2' 10s.;"'Meat k. .:Export,. ,£4,' paid, 6ellers-,£5; JE2 12s. :Gd: paid," g J;biiyers,^£3;'sellers 3;£3 Is.;...Manawatu Rails, |d ; ybuyers ; ■Union';.Steam';''sellers' vjßl' 16s. . RW; 3 d. Cda'l, seller6 v :125. ! 6d.i ieyland-, f:: -. O'Brien Timber, sellers;..£l 35.; New Zealand - Portland Cement,. buyers it' 85.,: sellers :£1 95.;.' k£New- 'Zealand -Paper Mills, / sellers - .£1 2s. 3d.'; •..- -Taranaki 'Petfoloum; sellers, 85.... ■ | THE MINING MARKET. . /Sales of: Talismans at -<£2 ss. Gd. and ,£2 Gs.; SdiVwereireporJed yesterday, and this.was' all.tlie>, toV.bu£mess":-' x , eflor.ded.' , .^The- quotations were- as 1 j raider .— tesO.fc-'i'iVv- - Buyers..- - Sellera.r- ~Sale3. f 1 d." "v£ s d." '£ s d k.-Waihi Grand Junct.-,l' 7- 3 17 9 . — [ \l aihi 817 G 9 10 — J Talisman ... ,2 G 3 2 6 9 2 6 3 N.Z. Crown... .0 4 0. -. 0 i- 4 ,■ . — |T Big'Eivei ... 1 ... 116 0 - — | THE MONEY MARKET; |?£?£';.Tlie.KunuM^ Ei";^dtW':'last*'^'e®fc -r isi'crearly:!dueVtb''!tliß.deinaridfi. |;;i; of:' Governments ,: and'municipalities fori loans, |i/and'::while::these: loans must leyentually have a tf-S'behofieial "effect in stimulating .' trade and : com-; merce, they'-are at the.-> moment ■ adversely 1 is also possible; that thcliarK »: dening of. money;;in-London is designed-to-put-ba .'check on -the "Booming"- ■;pSßjterisiliSij... ..American financiers.. All; the reports from trade revival and-recovery froni dff-;' | '-tain' measure =of ■ improvement :has'. certainly-' i?;-Ataken place,'.but. nothing, to 1 warrant;the: boom; j?s.vm-sto,cKS^ : manipulators' |J^ii>.^tkU}i'StKM'i :^ c, The: special; co'rrespon'derif"of 'the 'Tina'ncial 1 . -Times • (London), after a close study of the I': , economic coiiditifjjis in, the ."United:-States;, does. .bd-favourably/impresse'd with the. |j>.i;6itiMtiori.r'v-'In::-6iiQ'i ofrMs.. : rec'eit..'letters, he Street is:.'always,.forgettin'g;.that |:rv : -:the;!.Qctober .'.panic", of ;J9o7;,^a^;ha>tily'covered; Ij-H'-'upfand ;aio,t:.allbwed'. to run /i'ts-'naturalCcburVe:; '^Though-'credit had been ,shaken, toits fouiada- ' tions, everybody tried to go ahead again as' be'-.-i":/.vfbre.'; ;There ,was:nb proper readjustment of, lia-f;'4-abilities,<;of ;. values/, or :'of vprices.:') l .'The: which could not be-paid: were. Minply: car--tfie'd; on.-in, .the ; .hope of-.' turning: up |-.. to pay theni with. In" ,they, are stilt p-v.Vbeing . parried; and the debtors: are ;6till. waiting! t . .for something to turn up. Where the , liabslii' ri.s#.ties.^'avb':;Bometlling , ■belllnd■'■'tllem'' : 'eiariung'■'i^l- , ' %lx terest--they ma jr.Vget-'along'i'cbmfortably!-;-for.-V(i: : p^longi-while,-bjit wheje. C>. -way.they must be growing heavier and heavier:* i'% If v they.;are hot reduced to" such . a weight asf .theyjmuiit'still, be: ;' . a drag on.: business.' They represent a inas3 SiMf:of'fictitiousi'or/it may even bei spurious- values, : which must be shrunk to..true values -before fe'tWy i become wors'ei'-to 1 pile up -on K;i;theml.'a .6econd: pyramid^?of. fictitious . values, -as' S' . .Wall'. Street is now' doing. J This - : much I '-have t. :v ascertained by .'careful, 'computation.'ahd 'cbmrj | -narison—that the. financial'- and'commercial lia-" uilities :of .the:-American, people are. greater per f. ". head than those of any other nation under the p;\ ah- overjoaded Kof. kt'?-in;helter-skelter, to; createrSnewt'ones,-.'there is', ! . ; only one thing for other 'people-to'do—namely, |i ? to stand ;aside; and give 'them a clear road." 111. ;:;Jike.'.,:theirs, ..;heiidlbng:-booming] fc;;?Mn<haVa--'bij£>tfe J. .the, old fever, from;.which\they - did not allow I'jH themselves, time ■■ to;; recovercbmpietely.;v---:il:'; r ' must add enormously to the liabilities of 1907; iptSliquidKteV-Jnnd -;if:-'n(Vst'- : .'carry, to, a pitch the over-capitalist . tioh which,caused-the panic of . 1907. . . . In lySjXeyery vline;bf;businesß, :and: alsoah;;private,;]ife,i pjroredit is being strained to. the last'ounce^-Wide- 1 'fspreadrspe.cuiatibhVhaslforcedi.upvaluesl'of'all K;r i S^^^?®°.d : Jii r and their. products, labour and'the means of 'liying;-; There is commodity .'or a iepjirity 1 . and, that is, ; now. being .taken, as;; the' starting-' , feH^pbint.Vof"a-\fresU"-bnret';iJbf-.^ , ;spdbulativa.'.:"isJqr- : fe:t;rockettiiig.''-K: -' . 'The' Cnstoms revemie collected' at: Wellington |. '.:/esterday amounted to je!637:98. A 3d. :. I ' LIVE STOCK- SALES. ?'V - .'.'Balgety-. and, do., ,Ltd.j' report;—At "Waverley Januaryvls 1200 sheep, and r '2oo cattle c-ame 1: r:-.; forward... Bidding was ijuiet' :iinder the.hammer, pv*::;but%'e"..sncc'eSdejin;.making'k'-godd clearance.' t;: J ;s to f.tn.. fid.-; .. p.d- ewes, -6s. 5 ■ 6-tooth ! to"■■f.m.woolly«6weS|\7s.-;--t/;;- old ewes" and . lninbs (all .counted),--3s. • 7d.; ; . medium, shorn- lambs, 'Gs.'' lid.'; ' small woollv 3d. •cull.dambs,' 35.2d. ; ;,v forward• :e'npt.vcows,,£3 ss. to to iS3 9s. Gd.; store cows, I-16s.; s to 175.;\18-m'ontlis,steers,>-.89s.?vt"o\ ; 15 jto : .18-month's :■ heifers;26s. - 6d.;2-year 1 |-.j, half draught colt, JSB ; porkers, 295..,,. s . HIGH COMMISSIONER'S CABLE.,, - ; . . The Department of Industries and Commerce i : .' .' has received the following cable from the -High' i . Commissioner, dated London, January 16,1909 — , There is ;a dull "sale.-for all •"qualifies' .of- : .mutton. River Plate: is in large 6upply, 'aiidi is 1 t,'..being;strongly pushed for sale. -The following f T.«?». the. current', quotationsCanterbury, '..which : ;rNorth:lslaMi'-6riWliicH'' j v. ; holders are firm, ; 31d.; River .-i : late,> 3idi ; : . tralian, • 2y.* per lb; Dutch mutton is freely- • offered at ,4ld. per lb. . ;• : ... • . . : Tho.lamb market is quiet, and. has beeh' un-i'-f favourably by; the;; large - supply'of 'Aiui-, . tralian lamb.,',. Shipments from tliO 'Argentine . -,246,'p00"arriyirig'; tlus,l season-,'fip .' t , r;.to. January.:9,'^?against.-,64,ooo. ; afe'th^-sajrie-.-time : ? last 'year. limb "is .'qudted:afsdi, ; X; and other Canterbury at 4fd. per 1b..; A. small };>• %•;Blupment of.'this/season's' Napierilambs' ''average 53d., and-Riv'er Plate lambs average .'ifd. - per lb.. • ; v v'-i'i-^'.^he'beefjiri&rke^ r - • quoted -at';3|d;iijimdSfbrequbrtejs.:ats3d;' peiilb.: (: v ';y.; .market is rather unsettled,' and I-' buver.r are -holding back expecting prices to .'go' •- - lower. -AH the butter .shipped,. bv • tho . s;s, , V .- Paparba arrived?in - darndged- cb'n'ditiohv ; . :lt is' -k;;.'stated.;oa''gpqtf r au,thbrij7:tVtal2,soo bbxeS;\yere : V:' :: jettisoned, ;;and'ta;r/quartei ;^ : of.;the"''remainder^ 'f condemned'jbyiithbl, fe.'.i^iuptatiorii'^ifaS'tfol^ j; .land, Ills.; Australian, ,108s.; Danish, 1165.; F-.•jHSiberiahiUMs;;;:Argentine^loßs;,per : :cwt' . Ix: ■ . 'i-* lO .cheese ir..arket' is -quiet-, but holders -are ffirm. Gu'rrei&!quotations : a're:: 60s; for.'whitei vi,' $ls. for; coloured makes. A small: part" of■■ the I shipment by the . s.s. Paparoa arrived in .a : idamagi'd. „L'; ,\:, : f-'v The -withHtendenby/in f. ■.. favour of buyers.; CurrehVJqubtati'oris h:l!; -Vr Good:; fair. gradb:; onf 'sjSp,t', }fair;'gijideijijii i'..: .:,gipt,;;^23;^^:faif,i.bui;ront^^Manilaibntsnbti«224• January: to.Mai'ch3shiiimeiitS:^go'od ; fa&, gr^eV - £2i■: 10s.; fair 'i^ade;^22 : ;Vbuh'ent; I- 1 -'' Manila, . v£23: lOij. amounted to 23,000 bales,' "1? '' li;'' : -.-v..:-!-3. , he'. wooV'.marfcet ; , Tho hop: market, is quiet , Tho cocksfoot,seed market' is. quiet, l and there is scarcely any:;>;demand,,at, 7?s.n'ommal .per X-:X- bushel of 171b. ■ ■ ■:- - !;. S.,. : New r Zealand:'.lbhg-berried l bn : 6pbfr'ei ■* ; granary,-. per quarter pi ;45/ilb.;:,3Ss:; nolnin'al.'C'' New; Zealand-.short-berried': wheat' on spot, ; ex granary, per quarter of 4061b., 365.- nominal, s:.XX.- 'New .Zealand shqrt'.spaijbwbill .oats, .- .ary, on spot,, per quarter ofvlsSllb:,.i2-ls. •' Now.. Zealand Danish o4ts',?ex"^'granary,' on ; .. spot, per quarter of 3201b., 165.. 6d.. * The -market is. firm,, but demand only / ; :moderate.-v ; '*' ; .v XX New Zealand beans, f.a.q. (old crop), -per • 5041b., 335: ..The ''market- ' ing tendency. ' : :-k;XX>»x-(':^X:X- .j.;. I- V... -' . New -Zealand partridge peas; -.per; 5041b., : : 425. ; : The market is quiet, but steady.. ; h

MEAT TRADE PROSPECTS. (BY TKLEQHA.FH—HLES3 ASSOCIATION—COPTEIOnT.) London',"January' 17. Woddell's ."Review of. the Meat Trado.Vanticipates that beef-, and; lambs /.may.'maintairi - their; prices,' but mutton, does not:-proniise. ivell: ■y . .. The/prospective supply is larger, /and; thb' demand less than a year ago.

COLONIAL A>iD OTHER PRODUCE. ; (BT TELBGEirK—PBESS ASSOCIATION—COI'IBIGnt.) London, Januaiy 17. Rabbits, firm, prices unchanged. Hemp, dul], and unchanged. At auction, 276-t bales rabbitskins vere offered, and 2321 sold! Best declined id.; medium, Id. to id.; inferior, Id. to ljd,; and suckers and kittens, }d. to Id. , Copra, -dull, small sales. South Sea bags, £W 17s. Gd. lo '£19. Wheat.—Sixteen thonsand quarters Victorian whes" February-March shipment have been Gold 365. 3d. par quarter.

,;^,;:-;;.;i ; .THE metal maekets.. ' y, '■;.- (Br TELEaR&FH—riIESS: ASSOCIATioiMOPYEiaHT.) London,: January 17. Antimony, ;£S to £9. '".. ■ ' .. ;■■ .'..Silver, 24.5-lGd. per ounce stan&ard.' . ..'. '; on'ithej.ep.oti £61' 75::..6 d." per. ton; .thrraimonths;J,£62-ss;;>electroly,tib,',£6s. "•■■•'' i.-..TJn.Tr:Sp6I, ,t£125.a85.-per'tori;' three months, •Jiead; ■■ J i£lS' , -ZB;%ed: : -'';>. ■: : . " > ■■>■■• ; / : v; : SHARES.:, . ;>./, ; (BT TELEOEAPII—EBESS ASSOCIATION—COPYRIGHT.)' .;:'':('; ; V;:":7VLondon,/January 17.. ■.:;■.: ~..•: ;.,'.i v v ; i.- ; . ■. ■.. ill'.. Buyers. Sellers.: "■?.".•■■'• ; :';• : ::v'■■-"■■•':.:.' : : v : ■.-..■-£.s.-; ( d; ' s. d. ; Waihi--,Grand -Junotion ;.. 1 5.0 17 6 ~ ;,:::; . ..: :... 813 9 816 3 .';■ ■ ;';'.the\fe6zbn; ; iieat teade. \ : . :; :(nT_TELEOBAPH—PEESS ASSOCIATIONr-COPTBIOHT.) -.'•'.■.: ': '•■"■ . ,':.;:\. London,. January-17."-, . :.The..-I!r.p?en.,jM3a.t Trade. Association's'.Srditli■fiejd; market quotaiionsjfor the ■uhderniehtion'ed , lolasses bfifrbzen;mJJat'-ara^bascd'on'iactuaVsales 'of ifpt'l6Ss thian pnd'ihiin'tlred carcasses <of mut'totf or lamb, ! or "twenty-five .carcasses of beef of. iair average quality. These quotations are not ! fof 'selected.' lines,' .but for. parcels. fairly- fepre- ■ sentative! of the bulk of the shipments-now on the"market :—;■;■; -■■.',.] ~ .". V.":-.-.;■'■' Mutton— • . '•: : '■.':•■■■.. ■./■'■■-..•',. ; d. ■•,-. v.d."' ■Canterburyflight '~.- •..; 31 v ■ 3J. '•. Canterbury .medium ■■;.-. . ''..: 3.13-16 313-16 '^.Canterbury','■'heavy .... ... 3|.-'■•' ■3| ,■■■." Dunedin and Southland: ... ,3|■■-■ ■'.'•. .311-16 .-.North' Island' best brands ... 3J ■ - ' : '.v 3 11-16 ~.'39-m'.; ' 3i ' ,: f J : CS : ™;S ; S , ,;L '.' : '"-.. : 'v..:;/:!-: ' ■ -.:( :"'•. Caitertrary^light. ■':-■'.•■;'.■.:■.'.'■ : i';.'- --■•,:' '■'■■'--' '. -.- CanterburyVmedium/... ;.. ....—: ■■' •,— -. ■ Canterbury -heavy ... ... ' i\ i ■i\ -/Dunediri-and-Southland ;: .'.. ■;—..' ' r-'*. -; :..,.:....,..— ~ \ ~-. —. ■ BeefT^ ; --^^; v; ; .';;'-..' : r\.;. :' : i-:X :' .'■ ; ..-'.' >: New.Zealand." feres ,;...;- , „.•. 3J. ; 3 ■~■ ;;:. "2} -> ; ; '-'V3| : ? . ".Eiver Plal;e* : '6ortß not quoted.-.. ..\'. : ,: ■, : / ■'■';.-! '/■'■■' V./V; (BI TEtEGBArB—i'RESS ASSOCIATION.! .: .'. ..'; ; :- .. ;' . - ':'.■■■ ■ "■' . Dunedin, January .18..,. :e:'Stoak' J Eschaßge'"6a , leS:": j Eise and Shine, £1 7s. 6d.j Talisman 65.; South-Brit-ish .Insurance, j>2 105..' ■:':'.'- .-••:■■. - : ; Stock Exchange quotations :—Dredging stocks:; ~Alexandra; Eureka, .Vrayera 2s. ,6d.,. sellers ,4s;; Alexandra f Xead; sellers ,2sV,'6d.;; Chicago, buyers 7s.*.3d:;;^leotric;(buye'rs-:3s;,'sellers'ss.; Enter-j-,pn«e,' :biiyers* v 2s?;-fGblden.'.Bed,,sellers Bs.; Gol-. den .Gate,.:buyers'.7s. 6d.';,Hartley and Eiley, I buyers ,17s.j:Island Block,.buyers-9d.;. Maiiu-: 'h'eriKa,' : bifyefs" 105.,-sellers' 125.-; Mnddy Creek, buyers ■ £I.' 18s., ..sellers ,£2;;55.;. Mystery :Flat, buyers'JJtss.', ;' Notowii Creek, buyers 10s. ;■■ Eise;and' Shine,' buyers 7s J .i": sellers Jl\ 1 75..'"-9d.-jvßisJng'iSunj.•buyers Bsl 3d., sellers' '^1125,.; Sailor s Bend," buyers Mining s.ocks:. 'Bigf'EiretJ.biiyers 15s.;;Talisman Copper, sellers■'■Sβ.; : .6d;.V,Talisman. Consolidated; buyers >52 ( '55..9d., sellere,:i2:.6s.;;.'Waihi:Grand Junc7s,f3d,:,"'sellers :>ei-:85.,, Inyest--r'men.t'slEo'cksi National; Insurance , ; buyers £i. 7s. 7d.;'.Xlmon S.S. Co.,' buyers £1 15s. Gd., sellers -ißlflte., 6d.'; p.l.'C.vpref.,, buyers M os. 9d;, sellers".el Is.; Milburii'.Eime aiid Cement (£1), seUers.ililOs.jN.Z/Drug Co.; Ltd;- (£2% sellers 95.;. : N.Z: Portland;-Cement,i'buyers £1 Bs.,' fellers^l;;9s^f ;: ;^,;:-;.-:: ; ::^ ;v : :';;//-,,?-:■•