FINANCE AND COMMERCE.

Dominion, Volume 2, Issue 440, 24 February 1909, Page 10

FINANCE AND COMMERCE.

; WELLINGTON SHARE LIST,

i. THE SHARE MARKET. ) T,, 6ale iit■ i£l e -' Bs.;/was -nlade : on,.' Change/ ; >vhich,' ; was'all the 1 :/>;;;- business.recordcd. -The tone/of the "market is ;, flat. Bank of/New, .Zealand/sharesy buyers ,/ ,/125., sellers /155./ ; National' ; Banks, : : buyers ':/-/' X >25, sel]ers Ss.; \Vellin'gtoii ,Inv6s,tm'eht,' i £el-' • ' • lers lls.'/6d.; Wellington Trust'.ian'd ioanj' sellers X 7; 55.; 'Wellington Deposit/ sailers 95.; '.. ./ ; Loan:and- Mercantile/-bu.verß„23. : 6d;,; -Natioilal 'sellers "il'-Bs/.i3d;; :bi^ers^ . -paid.buyers" J2 '■ £2 12s. 64. paid,, sellers iG3 Is. 6d;; WeUington , Woollen, p'Ordmaty,, sellers , s 15... 6d..; .West-.. port-StocktonCoal,- sellers ; 9s.' f; Kauri,' Timber, '• :i ; rJ : '.:Slssi "Paid,'-buyers 14s. Id. ; ; Leyland-o'Brieh:Tim-', , j 'ber,.:sellers' Jet 25.J9d.;: New, Zealand- Portland . . . Cement, buyers' i!l 13s. 9d.v sellers. i21:145:49d. ;. 5..■V-'^-■.v^TMnnak^i:Pot^olanm;'i•buyers■.Bs.';■'■tellßrt.:9s.':fid.''; , • : Ward and Co., breweryjshares; sellers £5;. . -. - - ;CTnE • A salojof Talismans at £2 6snwas'':madelon- .. . . 'Change, Snd sale of Waihi at £9 and i! 9 15.,. : and Big River atv.£ jepojfted.The., ,s ! follov.ings j : 23 1 ;/ h'ns\ been received froqi :thd JfcS Bijf River Com- . • pany:—"Big River February battery .return: . .• . Crushed 525 tons for 657 : ounces, melted'gbld 1 :Dividehd-'of'.3neTshillingiandi V^'6is^nce a payable 26th." '■:} i.:/,. Yestor<l4"y'ff ;quotations J wore -as'- -under •• / •'..• . ' - ' .Buyers. . Sellers. _../ Sales. £s. d. £s. d £ a d. Waihi Grand June. — 1, 5 3 , Waihi o'. 0; v 9,'2'o ; 9 I'o Talisman ... 259-2 6-B-260 , • .' New Saxon : . ... 0.1 4. —' Tangiaro — 0 0 6 — • . • Big River ... ... li!s/,0 :•% :0.0, • ilils ,0 ROpERT CAMPBELL AND SONS •The report -of '/Robert Campbell ; aid Sons; Ltd./-forv,the' year/ ended/June last in New . / .-Zealand and December 31/last-in.London,/sub-' ,' / mitted at- .tlio meeting, on »January 21,i-states/' • -that in cbmpliance resolution/ ' . of August-15; 1907, the. Court duly granted an: P".arder^ : " ; /./"/^/-'.capital /ffief companp.jfrom •60,000/shares/pf. . ;03.each t0'60,000 shares'of >S1 each; and, in /-/accordance the :per' : share,'' amounting'/to',^l2o,ooo,,;!has : been J paid., to - the < ";.'/ //. 'shareholders.:■'■•and..' new certificates /for 6p,000 ;& J teKB/to/ttem/itfiexchaTOeifbfe The, //S|/v;delMiitures;; ; for became "due"/on.\Jaunary--1 and' have been'.pnid.off; The sale of the /OtekaikeiStationixovthe -New: Zealand Govern-^ >. • f l i.. transferred- to/ last?: : 't^Cs«lM/;o!",!Staitioiisg^k;.(®.ite(!(H«jffiJ^3^oo9; /.Stations, togetherftwith TO&-jestimate4f , .y!ilue ot, : v ;i / : / / the small frceholU's] at BeitfftSreJind Galloway, /v //M'.which v''aref|still-.\ rttainedyby - ex-.' the a^^QJ3¥s^!fif^eehold. - land,buildings,■ Se'ucing im---,p'rovement|/stoodi,&; the }.b00^%;f^46,"839,-and/ this snrplns/has;.beeii?credited to the profit'and'' i >. i;'//-'losV'accoi^t::: : '-The?JiM for tho year ; amounted: of ,/:,.i" of interiffi'jilmdehd of 5 per, cent. Sas, Said in July i:03,770 to ".bo/no.iV.,' ealt The'/directors yf ; S-'V/final'/dividend : - , ro6KS^per^cent : >on:'-'tho , V,pV®sit'i /:-.:/;/ capital, togetherQyith. a bonus of 10s>*jber.' ,/• 1 share, be -now paid free of tax, and that <£60,770 boj carriejiftrward. -'" .£■', ■■ S :: v, ~'/ : < FRIENDLY SOCIETIES. • //>/ force; tit..thb. l >'Bfeg^iii»xng ,// ' of--, this/ye'iir ,'whipfe considerably;/ widens, the ..//':-//. sebpe. and^^privileljiSS/offriendly / ;impbrtanfe(!hang| effected by -tlic new>Act is that which ..confers /. ~ ./"/ the "right tb/.thesb'/thrift'associationslto'jassure: ; children frora date/-pf birth, thus placing/them- /■!./;:/ .-in-.a position, to Copipete on - e4ual/ter)hs with .. . ' .the collecting.assurance company. The ,alt«ra- /. ~ /;'! tioh is. regarded.asipf-great benefit io/'the" coin- - v/inunity, :T^^ered : friendly, society, i ally provides an,Organisation • by whict- skilled S ■ / ::' ; medical /atfendaiiVlSl&nd;--medicine are / for the meinbers ab/ : ;about the sajne -'as'-in: • - the. collcc'ilng compahy/is paid - for : the"|cbll«(hi tion of The new Act glso extends.'the maximum/amount of endowment and all life/asSiraticei)V)Vjch;.can be legally iaid/b'y. )-/ -/./:S"a/ /j5200 ; to - Other ■S:'K-/-/CMncessi6hs.Vare.'- , 'dSb,"^inted;''-'suoh ; ail:,/ex- //./;//;. .tension, of |inTestincnfeto, inolude.' all" securities /;>;/;/ : legal,, under/ the /Trnsfcees' A ctfc.Thg'broadieniiig'i - ./-' of the on wliichjiriendly; societies oper'ato; ; will- doubtless -be ibUnd /of, service /in view,i.o'fj' the infltion'c'e on thfiifjSturo of thrift'.which ril'ys.tV :i\'/v. : :be exercised, by adoptcd'jtisystem|bt ;'/ X,;/:: old-age pe'&ions/ .iT-he/returns' of . tlw principal'; /4';///:societies. foj--/ ISOB j|hj)w:;that/although the, ihf| ; . : crease ' in^ -tho nnniber, of - meinbers Jhas ' beeri/ . . relatively-,'jmall, ;thi)ro have been substantial' . additiops to/the capital resources of tho societies - accuimilats'd.-: tomeet/.future 'liabilities. -'[?Che ,/„ Etreiigthehiiig/of ■ theji- financial" position: in this, : /.';.:, later, attract'- increased-' al!i:ntion tb the of .niiitual assurance r-- : J.:'. a§ainst sickness. Tffp membership of the:regis-- . .twed friendly societies in the. United Kingdom /'/: : ;/i-/amnunfeiiiif round to 6,000,000,' tho,ap-: nu'ai benefit payments to £1 per meinber; and-VCjr/vVtbe-'accumulated .fylds to JC60,000,00(1,vi/The'. . ./;. - . Manrli(\sler,,Unity:'of Oddfellow's maintains its '• position as' the largest and richest friendly ;/:*•;/ .. society, in tbe'worljljjwith ah aggregate member-. / w 1 ship of 1,029.272. .'accumulated funtls/ oE' v/ ; \ V-^^'.813,822.048.;,' .The in'obme of the sick arid funeral' fund was/ >£1,532,110,- . and;, the benefits pvd y~:/. ;/;£\.\b1,201.-i'For thenjast:three years.fhe'amo.unt, :/ . /:■ ./ paid; in : benefits jthe income of/the memhers, this; year", by as mubh'' as J875.734,-. the. large .addition 0f'"i1451,778. to - / //reserve : coming .-'exclusively from, the interest /. yield of. invested capital. Tho valuation of the , . . order which is noiv.ifl progress has.been.completed as far as.the'lgdgSsitif-'Eagland dre'epn- 1 cerned, and shows' totals Bnrplus4s,:-jfJ,18i;563,' - //" total 1 deficiencies v£715,56f, leaving a net surplus of £468.996

" N OTES.;v' :..v v/, ■: j.The 'Mbenix'-;Assurance 'Company : (of; London) 'from • the cbmmenbement. of ; the new. year started 'the insurance of. profitsr as' well as buildings and-' contents/from, fire/risks.'-.. 'In 'other,' Words,- 'the/ assured' are protected from loss; of/profits arising-from';the:-interruption':'6f business following a. fire. /';

This faefrliusiness : wri£tbh "by- the Mutual; Life l>and.-,Citizens'. - Assurance ... Company,. l Limited, l dur.i±fg' iOOS V' ¥1.878j29i.',. This amount exceeds the sums/mitten' separately/by the Citi- ; zens'/Zahd -Mutual 'Life .-lnV-1907 'as separate organisations. :: ' /■,■ -j. ' -■'■'•>-

..In MOS'Ehgland re-exported £12,810,735 worth .of,colonial;'and foreign wool, of which" JC3,807,803 went to Germany,' .£2,507,559 to Belgium (largely for ■Germany),: ;iE3,83i,125 to ' France/ £2,212,108 .to" fc})6 United States. and >6330,518 to Holland:"'.' 'the' .'past''' year' agree "that;' 1 though I there have ;!>een.V.Ten4rkable.. - fluctuations '■' and,' material i-the,'-position.-at-. the close is much "sounder' than lt ' was at the ' beginning, the steady "and continual improvement/in trade .during"'-the .last , few- months having; absorbed ;'all r surplijs.vsto'cks.t! The { exports from ' Malay; -sia 'inoreased-'from .900/ to/ 1500 tons/'and from .250 "to 360 tons, whilst Para shipji .menfe{jv;e^t'jiip(/f t 0m, ; 37,400;t0 38,200. tons. The 'totals sales of -"rubber - at : 'auction"' in London . during, the .year, weris',l3oo tons, as, compared 'with *800 tons in "1907; and the avorage price realised:-was :4s. .ljd.,.;as against; 4s.' 9|d. per : lb. Stocks; in England at tho end of the. year, .amounted to 1300 tons, or ; 300 tons :less .than atjthe. Commencement.' • . f; 3 "Thai New- South- Wales, Government. Savings Bank is granting®, number of concessions to: aepbsiWsiV'whb',;may;:.Kericeforward, ■ naving a ,deppsit : at ally one of the ,613 offices of the bank, 'draw out'up:to '.£2 at any other office of the bank on satisfying, that office that ho is the de'pesitbr'inquestioh;, He may also obtain transfers telegraph up to JEIO, and it may be that this will compete a good deal in the remittance sums.- /At 'any. rate, the commissioners count, upon, .the concessions now made being much appreciated by .the puafio. : , |:.The impression that ; all manufacturing, processes in the Unit«d-,States are conducted 'on a .largo, to be borne out • by': the';"expansion" /in ' the cotton spinning industry in that country. "According to the Tex-: tile. Mercury"' 47 new cotton mills were established in America ih' 1908, but' their capacity, is only.'-lO per cent, of similar concerns in Lan-. cashire. In. the latter quarter the current year critical period for, the cotton generally. ; is -showing "Slight: sigitttsf;^eTival.,,.The.,unfayburable: , ef;; fects.'.bf',|K6''6vCTb'uflding of/spinning, and wcay-; :;ing-mills:ih';Lancashire, described 'same.months:' .ago/tin * ,f ,The ? • 'states- the "Mercury/;;..be: removed/by .a ; triflirig'.improvement, ,'ih;'trade/ Owingto- the : ma-hufacturing,' !capai .city-being largely, in excess of the demand for; ■the finished, article, ill-feeling is spreading,-'and-irnmqu'rs: are heardspf preparations, for "a -, bit- 1 , 'ter ,str ( , future ; betweto' : . re-presentatij'es-.of the old-and the new companies. The/ result*",in'ay'Qr'oT;e. ; ruinous in -many : in•/stanc6s,'?and the'outlook ,for Lancashire's staple . industry,VisTnot: eacotiraging. : ./ ,

accounts, of,;the: .Savings /BaSk'bfiWiwSbutlijWales.gives the following earned, by the bank's ihvestm6fifs,^wM i {.f2s4.Mi, >: the amount,at credit, of ; ■ Jroflt'-.and.' , from the' previous year, ill,0&,/JmIfcing>i£263,452, out : of.:..which-,in-Mrriea'tovrMewe''fimd; 'in!- accordance with the -Act," >012,620; ambun.t;catj;M depreciation: ac'count,- r 'sl'sooo r ; bhar'ges for the year, i 024,841; to-. ,gethbri'iSso,l36; -Jbaving 'to be carried forward : ,iyeTogß.'am6uh.t at credit of each ; ,/deposit'o,r" on,/D%sinl)Br .-31 was i£s4 18s: Bid., ;beipg^j'an:'increaspf6f vlltd., on,that. of, the -pre-' •Ticifts amount of interest added .to eachidepbsitof's accounts of. December '31 was/-.a£ll : ,&{d';-.' .The reserves were: At >0306,790; at credit, of account, ; at ('credit of pf^fit'ji'nfl/loss.account, £ 13,316; total,' J5370.552. >/::.Si»r' J : '~ ,/ ' .'■ - ''-//

and lamb into the /United- i»/fToin Australia .. in * 1908 !am4iintea : '"fc 63|,6540wt.: against 858,226cwt. for -.1907£ from Newi Zealand, - 1,737,6060wt.y: against 2,oos,o7Bcwt.;'j'anS/frpin: Argentina 1.556,746cwt.,: agaijist l,4o2 ( 3o2cwt;.;<the-;total from all sources -amouSting- to:- 4,391,259bwt.,. against 4,578,523cwt. )Inis'brtS;Scif /beef :. from' Australia last year" iaWoiinted'.^to; 112,583cwt;,: against 126,030cw v t. in 1 51907 Zealand; 347,872cwti, against from' ' Argentina 3,590,307ewt:, »agßiast-': 2,'691i554cwt. ;/.from the. United : States ;EM2;Ufewti." 2,417,604cwt.; the total to 5,631,989cwt., »gainst S',73Si.oo3cwt';, The number of live cattle 'imp'oyte'd/intb l the/United Kingdom during 1908 was'v3B3jl3o,H against 472,015 in 1907, .audi the numl»r/ : b'f,wSheep and ■ lambs 78,900, - against: 105,601;^; t *- The"-iCifjiJoms revenue collected at Wellington, yesterday amounted to wE4830 Is. 7d. ; / FRTOT AND PRODUCE REPORTS. ■" Messrs.,' Griffiths/and Co., Ltd.,' forward -fruit ;a'nd!"'produco.:prices/ruling yesterday as .'follow ■|Potaloes,' ; ;4s.---tb 55.;/6d. for." /onions, Is.-to "4s. 6d. j local onions, 65.; cabbages, 9d. to Is.';'cauliflowers, Is. to Is. '6d.;' peas,:-45.. t0.55., full sack-ss. 6d. to 65.; beaus, 2s. 6d..t0 3s. fid., market rising; tomatoes, 2s. 6d. to 2s. 9d.--fori Loiyer;Hutt; lettuce, 2s. 3d. to 2s, 9d.; :pltims,'' ohoice!i3s. i'tb 35.- : Cel., ordinary , 2s. 6d. to'i2s;/ : 9d.:|iUpricpts,"half-cases ;6si to 6s. 9d., full- cases Bs. to 10s.; peaches, 45.. to 4s. 9d. for Nelsons, 4s. to. ss. for. Hawke's Bays; apples, green cookers ss. 3d. to ss: 6d:,-choice desserts -§s,'/ftj.-.'Bs.": fid.;/-.n'ebtfifiries,. none forward; pears, 'choice- locals,' WilliaiUj '2s/. 9d. to 3s. h'alf-cafee, full-sire oases' ss. to 65.; eggs, Is, 6d. dozen; fowls, 3s. per pair; duoks, ss, per pair,-'.

The market (continues tho report) showed a little inore activity yesterday morning for several lines. Tomatoes were in keen demand, frenoh beans took a rise in prico, while potatoes, on account : of large shipments coming fprward, weakened slightly. Good stewing fruit is in ; fine request; also first-class apples.

. WELLINGTON MARKET REPORT.' -Xaery and Co., .Ltd.,../"Wellington, report wholesale prices ruling'on the market:—Wheat, fowlis. 9d. . to 55.,-broken 3s. 9d. to . Is.. 3d.; oats, 2s. Id. to 2s. 6d., dun oats 2s. 1(1. to 2?. 3d., seed oats 2s. t 9d. to 2s. 10d., Algerian seed oats 2s. Gd.; maize, ,ss. 2d. to ss: 4d;; crushed malt,. Bs. 9d.; fowl barley, 35.; horse beans; 4s. Bd., all at per bushel; ricemea l ,, 45 ss. to 45 15s. j flour, N.Z.-JBU 10s., Australian 410 15s. to 411; brail, 45 lOsi to 45 15s. ; pearl barley, ■£19 10s.; peas, partridge 4s. 9d., Prussian blue Gs., 1 fowl peas 4s. 3d., split 418 10s.; ■ bonedust, 40; £5 to £5 55.; guano, '.£4 10s.; chaff (oatensheaf), 43 10s. to 44; oatmeal, 410 10s.-to. 410 '■ 155.; new potatoes, 41 to-45 10s.; onions, j£G; molasses fodder, 45; bacon, factory, sides-7Jd., hams 7}d., rolls Bd.; butter, bulk, 9d. Poultry: Hens 35., dueks.4s. to 55.; turkeys, gobblers lis. to 125.,' hens 9s.' to 10s. iresh eggs, Is. sd. to Is, 6d. per dozen; cheese, 6d. to 6|d. per ,lb, loaf 7d. per lb.; *Akaroa cocksfoot. 9d.,'farmers' dressed sd. to Gd.-per lb.;_ ryegrass, 3s. 3d. to .4s. Gd. per . bushel; Italian ryegrass, 3s. Gd. to 4s. pe.r bushel; whits clover' 70s. to 755.; cwt., red clover 655. cwt.; cow grass, 655. cw v t.; alsike,. 825., Gd. cwt.; mustard, 140s. cwt.; trefoil, 375. Gd. cwt.; rape seed, 265. cwt.; ■ timothy,, 32s. 6d. cwt.; swedo and turnip seed, GOs. cwt. :■ ,;A ; LIVE STOCK SALES. \. J; Messrs. Daliety- and Co., Ltd., .report:—At, our Huntervjlle, sale yesterday : there- was a very, good' yarding of sheep and a fair entry of cattle. Wo quote: Cull ewes, is. 3d. to 4s. ewes,. Bs. Id., 95., 10s. to lis.; cull'iambs,. 4s. J id.; medium lambs, 75.; 3i-year bullocks, 45 6s. ;. ' .

Messrs. Abraham and Williams and the New Zealand Loan and Mercantile Agency Co.; held their : regular stock stiles at Paliiatua yesterday.' There;; was a'good yarding " of sheep;.'but' a' poor one of cattle. Prices about equalled those obtained at recent sales. Quotations: Two,', four, six, and f.m., ewes, lis. 3d. ti 13s. 9d. ; two-tooth ewes, 'lis. to 12s.two-tooth :! .wethers,. 10s. ; rape lambs, Bs. 9d/ to 95.; medium, ,4s; 4d. to 75.; weimer calves, 145.; empty cows, 325".; 4di ; springing do., 605., bull, 325.

! Messrsi Abraham and Williams, Limited, report on' their Johnsonville sale :as. fellows:— A fair entry of both .sheep and cattlo met with a. good! demand at .late rate's) makingfrbm - 20s. to 215.-per: hundred lb.' Best bullocks, 48 12s.' fld. t0.:49 2s. 6d.,-lighter, 47 15s. to 48 25.'"6 d;,; light, 4G 10s. to 46' 155.; wethers; '12s. 6d., to 135.;. maiden ewesj 13s; ewesi ,12s. -to- 12s. 5d.; lambs, :10s. 3d., :11s. 10d., to 12s. 10d; "• ; '.

PROPERTY SALE . Messrs. T. Kennedy Macdonald, Limited, conducted. a: sale: of landed . properties. at. their rooms yesterday, when, acting, under instructions from'the Aotea District Maori Land;' Board, ..they 1 submitted 56 seotions - in the • Turnngarere,Township/ situate oh the Main -North Trunk line, when the' following sections were sold:—Block V, Section 3, for '.£SO; Section 4, foe - £47; Section 5, for £64; . Section 6, for £77. Block IV, Section,l4,.for.i;l7 10s.; Section 19,. for .£3O; Sectio'ii 20,/ for ,£2O; Section 21, for -.£2O; Section .22/?. for/.fi2o; Section 27; for <620; Section 28, for A 20.: Block 111, Section 9, for -£15. Other properties situate Hawker Street. Xowor, Hutt, Island Bay, Kilbirnie, and; Brooklyn, were-offeyed, but not reaching re-' serve prices, were,'.passed in; ,/■ WOOL SALES. (BT TEI.EGUAFIi—PRESS ASSOCIATION—COF-IBiaßT.)' (Eeo. February 23, 11.30 p.iu.; ■■ . V '. ' Sydney.,' February 23; , A't the; wool sales xonipetitiotf was very keen, and prices .were firmly maintained.. . ',! ■ f ; THE WOOL' MARKET. : The New Zealand Loan and .Mercantile Agency, Company, Ltd., have 1 received tlie' fol-lowing-oableeram. from their London house under yesterday's date—^"Woo-I.—Market .firm, with upward tendency. '.Tops have advanced' Jd. to id. lb.". ; '

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