FINANCE AND COMMERCE.

Dominion, Volume 2, Issue 444, 1 March 1909, Page 10

FINANCE AND COMMERCE.

The ;»lov6 quotations are taken,:from. the daily, official lists of tto Wellington Stock •' Exchange. '" V"

Britain about 16 per cent. The industry m the' last-named country has suffered from want of confidence in the future, which has _ prevented the necessary capital being applied for development . The prejudice against basic steel by many-British engineers has retarded progress. Taxation and pnblic burdens, while they had weighed heavily upon the industry in .the 'past,' will'also weigh upon competitors in the iuture;, and the- same applies to wages. -The frequency and ■ disastrous • character of past •sWikaj _%d ! „the ..uncertainty "as to the future attitude of"'labour have also had their in-, fluencei Large sums have lately been spent in improvements, and the organised methods of foi'eign'-rivals have been adopted by British' manufacturers, which, it'is held, will be .of immense benefit to the industry. One_ thing Beems to be certain, however, and that is that there will be in the future a severe struggle 1 for supremacy in the steel trade, for which Great ; Britain appears, to be; much better equipped than in former years. AGRICULTURAL STATISTICS. Some interesting statistics have just been published by the Board of Agricnlture relating to tho area under crops, inclusive of permanent grass land' from.iwhich hay id cut, in. the British Empire'and vthe chief countries of Europe. The wheat fields of tho latter amount in the aggregate to about 120,000,000 acres. The ■ wheut area of • the British Empire extends to , about. 36,000,000 acres.. In Europe 47 per cent, •of the'total'is found in Fuisiia, iv/iilo in me; .British Empire India accounts for 62 per cent. The cultivation of wheat has during the past' twenty or thirty years remained almost stationary in Western and Central Europe, but in Russia and Hungary it has greatly, extended. In Russia an increase from' "29,000.000 'to 4D.D00.000 acres is recorded since 1881. and in ■Hungary., during the same, period .the wheat 'acreage.: 'Hhcrca&ed from:' 6,000,C00 to . 9,500,000 acres. During the same period the wheat area : of the British Empire (escludiug India) has increased by about 3,250,000. acres, an extension of about 5,000,000-acres-in Australia and Canada having been partially set off by a loss of nearly 1,500,000 in the United Kingdom ami New Zealand. "Whilst, however, in-1907 the cultivated' area in the United Kingdom, was 26",000,000 flcres out of a total area of 75,000,000 acres, in Australia the area undfcr crops was ■ 0n1y,9,600,600 acres Out of a total of l,!)0i,000,000 acres, and in 'Canada- only 20,000,000 acres out of a total area of 2,317,000,000 acres. In New Zealand , only 2,000,003 acres were cultivated out of 67,009,000, ■ but India showed a laiger proportion relatively to the area of the country by a. total (Of 249,000,000 acres under crop o,ut of 558,000,000 acres of territory. Much of tliis' cultivated land in each case was gradng land, and its great productivity is shown by the flocks and herds it sustains, these representing 82,000,000 sheep and 9,000,000 cattle for Aus- : tralia, 21,000,000 sheep and 2,000,000 cattle for ' New Zealand, and 5,500,000 cattle and 2,500,000 .sheep for Canada.-; ! •/•.:'!,• CUSTOMS REVENUE. ':•;The Customs: revenue and beer duty collected . • lit-. Wellington lust week amounted to .£25,203 Bs.. bd. and <6198 18s. respectively, while the 'figures for the corresponding period of last year i we're (revenue) .£2G,2<5 os. 9a and (beer duty) .£3ll 14s. Gd. On Saturday the amount of revenue collected was .£1450 Is. 4d., as against i'l7.9i- 95.-Sd. for.the same day of last year. ~A Press Association message from lnvercargill states that the total Customs returns for , t ebruary- show an increase of £120 over Februt aty, of last year.' ;The most notable feature of j' -tne .returns is an increase of £iOO in duties on -manufactured tobacco, which more than sets off ; a decrease'of :«£2Bo,in spirits: I . LIVE STOCK SALES. 1 A.,;H..Atkinson.and Co., Ltd., report a large . entry 111 all departments. A heavy yarding of

'.STHE SHABB MARKET.j. y■; ; Sales of> Taranaki Petroleum at Bs. 3d. and Kauri Timber at Us. 6(1. were reported on. Saturday. The market was quiet, 'without any quotable change in values. National Bank, buyers .£5, sellers .£5 2s. Cd.; Wellington Investment, lis. 3d.;-Wellington Trust and Loan,j sellers £7 4s.' r '.Gd.; New Zealand and- • Kivor Plate, buyers £1 13s. 3d., sellers .£1.135. 9(1.; New Zealand loan and' Mercantile,-'sellers - 3s. 6d.; Wellington' 'Gas;,' .£lB . 155.; 10s. paid, sello'rs i'l2;' new issue,--buyers 124; Gd.,' sellers 17s. Cd.; National Insur- ' ance, buyers ill 7s. 9d., sellers .£1 Bs. 3d.; Gear Meat, i£l'.paid, buyers £2 10s.; Meat Export, £2 12s. 6d; paid, buyers ;E3, sellers £$ Is. 6d.; Wellington -Woollen, sellers ,J33 Is;'Gd., cum div. j Westport-Coil, sellers JE6 4s. Cd.; West- . port-Stockton Coal, sellers Bs. .9(1.;' Hikiirangi Coal, buyers 175.; Kauri Timber, 15s. paid, buyers lis. 6d.; Leyland-O'Brien Timber, sellers J>l: 2s. 9d.; New. /Zealand Portland Cement, buyers £1 Us. Gd.; nevr issue, 15s. paid,, buyers .£l>#s.; New Zealand Paper Mills, sellers XI 2s. 3d. i Sharland's preference, buyers'; 18s. I ,' sellers 19$; Taranaki Petroleum, buyers Bs., • sellers Bs. Gd. The course of' sales during the past montb .was as under:—•-.• National. Bank, r '3,si9d'.V 3s.x- i' Wellington lis. iM.;?' 1 -S Wellington Deposit, l 9s:-' National: Mortgage, £2 12s.'6d. New Zealand and River Plate, ,£1 13s. 6d. Wellington Gas, paid,- : »81G-17si Gdi Wellington Gas, new issue, 12s. Gd. National-.lnsurance,.i£l Bs.'9d., : "wei"'Ss.; XI Bs., £1 'Bs. •"•- Gear Meat, paid, £10, £10. Meat Export, ,£4 paid, ,£4 17s. 6d, Manawata Bails, .£2 15s. . TJnion'Steam, i!l 15s. Gd. ' Wellington Woollen, -C 3 is. Gd., .£3. Is. Gd. Kauri Timber,,Vl'ts.'Gel. New Zealand' -Portlahd 305.,. 335., Ws., 335. 9(1., 335. Gd., 335. 9d., 345. Taranaki Petroleum, 7s. 9d., 7s. Gd., 7s. 9d., Bs. 3d., Bs. 3d. - Bs. 6d, 8s 9(1., Ss. '3d.. : ' ' Wellington Fresh Food, ,2s. Gd. , THE MINING -MAEIOET.' ;'- Sales of Talisman at £2 is. 3d! and X 2 -4=. IOJd. and Waihi at X' 9 were reported. - The market was very quiet, ,\vith".a: tendency Ito' dullness. The quotations were'as wider:— . ... Buyers. Sellers. Sales. . £s. d. £s. d. ids. d. Talisman ..." ... 2'4 6 2 5 3 2 4 10-5 "Waihi ... , M 819 0 92 0 9 0 0 Big River — v.v 1 14-0"' 1"18 0' — The course of sales. ..dtoiilg^'tt'oXpsst,'month was as follows:— Waihi, i'S 19s. 0(U;.«C8 19s. Gd„ ,£9, ,C 9, .£9 Is., £9 Is., £9, £9, £0: -£9 As„ jCD, 'AO, 9. Talismaa'i-'49s. 3d., 495., 485. 9d.,-4Ss. Gd., 4&i- ---■ 45(1., 48s. 44(1., 43£;Gd., 4Ss, ,Sd:p4Ss; ;6d., 47i.9d., 485., 475: ; -3d., 475,--3 d., 47sv Bd:'i-47si- G(l.-, 475. 3d., 475., 4JK'.Bd., *§3d., 455., 41s. 10(1.; 445. fidij- 445>'6(1., 41s'Gd:-, i '«'s:''9d. ' 44s lojd >;■ ' Waihi Grand Junction, 255..'5 d.'. . ' Waitangi, 4s. ld.,''i^. > :L > d., , -15.''3d., 3sVßd. Mountains-King, 9Vcl., is. ld'.,;;ls."ld.,;;is.;ld. - New Zealand CroW'u,-4s. Gd.i 45.-:sd.': ' Tangiaro, ,'}6d.' %£i ■ Saxons, Is:, Gd. Big 3o£SOUTH WELLINGTON LAND CO. The annual, general meeting of -the South, Wellington',land (foiipany, i,td., was. held it the Chamber of Commerce on Friday night.' There were 22 shareholders preseut or represented by prbxy. Dr.fFell presided. The Chairman moved ' the adoption of the report and balance-s'hcet, and gavo an account of the company's operations during the period covered by the report. Mr. Chote seconded. In the course of hfs" speech, the dhairinan. mentioned that a very fair number of . sections had been sold, and •.settlement was stfeadily progressing. At the:', present time, however, the company, like all'.other institutions,- had been seriously hampered in its laud sales, by the prevailing financial stringency. The' company's finances were, on a sound footing,. and it was not expected...that further calls .Urould ie made on the shareholders. Every effoft was boing made to "sell the company's section's, and it was arranged that\any of tho land agents may sell them. Ity'was considered that'the

company had; a very,'valuable property, which . Tiust eventually prove a satisfactory investment for it's shareholders. After answering a number of ■ questions,, the chairman put the motion for the adoption of the report -and balancc-sheetl to the. .meeting, and declared Baine to be carried.'" ' Br. IV. Fell was elected to the and 'Mr. George Ross;.was elected auditor. 'At-, a meeting oMircctorv' heH subsequently, Dr. Fell was elected chaipn'an for the itisuiiig year. THE STEEL TRADE. A cable message published on Saturday 1 stated ttiat the steel trade : -of the United States was aoinoralised owing to.the Steel Trust reducing the price of structural'steel and plates by six dollars a steel- bars by four, followed .by an announcement-of an open market in tho ;ail industry.;' Up to,flow the Steel Trust has held out for full pricte; and it is obvious that something iniportant.'lias happened to bring about this drastic chaiige. With cheap iron, and steel and there are great, possibilities of renewed;.industrial activity. ''In' estimating the possible course of events' in the iron trade, regard must be paid to '.'the conditions of production in the United States; Germany and- Great.Britain. The first-named has rich and:,cheapi;pro at the mines, bnt a long transport with -two breakages of bulk to the manufacturing centres. Germany, has, in. tlie north cheap fuel and dear-ore, and in the south dear fuel and .'cheap ore. Great Britain is favourably situated, for oversea shipments, but her ore and fuel are becoming more and more costly to work., ;Of the world's production of pig-iron America contributes .about. 45 cent, Germany 20';j^'.Vceit.,^aid;'.Gia4t!.-

pigs made rather lower. values . than the premous week, but with one. exception every line was,, quitted before the close. of . the day. Prime fruit was forward in large quantities, some nice quality peaches being held over for disposal during the week. We quote: PitrsvVeaners, is., ss. 3d., 7s. 6d., and up to 10s.; slipi 10s. to 125.; stores, 12s. 6d. to 16s. 3d.; porkers, medium weight, 2fls„ 255. Gd., 265. 3(1.. ,and up-to 28s. Horses: 1-year pony, i£9j aged pony, aged gelding, 2 15s. Poultry (at each): Young roosters, to'.- Is. lid.; hens, Is. 5d., Is. Gd. to Is. Bd.; cockerels, Is. 2d. to Is. 6d.; small birds, 15..3d.. t0 Is. 5d.; tlncks, Is. 9d., is. 10d., Is. lid., 25., 2s. 3d.; guinea fowls, 3s. Id. Produce: Ryegrass seed (dressed), ds. 3d. per bushel; ieed oats, 2s. 3d; ; second-hand sacks, 3s. 3d. per dozen; potatoes, 3s. 9d. per 001b. sack.; full size, 10s'.;'onions, Id. per lb. FruitPeaches is to is 6d. pw Mlb'case; K ,2s. t0..35. 3d.;-apples,-,25.- 6d. to 2s. 9d.s pears . 55.-per caso; tomatoes, 3s. 6d. ■ A large quantity of, sundries were nlso disposed of. . . SPRINGFIELD ESTATE LAND SALE, TIGHTNESS OF MONEY AFFECTS IT. . (HI T£LIGUArit —TRESS ASSOCIATION.) . < . . Ashburton, February 27. - . Iho. remaining portion of the far-famed opringtield Instate, Methvon, consisting of SHB acres fine,agricultural land, was. auctioned ln Auhburton to-day m tho presence of nearly 70U farmers and others from all over tho Dominion.. Competition was not so keen as was ' anticipated,: and, the'prices bid, did not como , Pp...'.'to those at. tho. subdivision' sale twelve months ago by- several pounds per acre although a greater area of the land is of equal fertility and This may be ;takon as a.fair indication of how'the stringency of the money market is affecting country interests. Of 16 blocks offered only seven sold at auction, at, prices ranging from J!10 per acro.t'or medium to ,£26 for first-class land. Tho : passed^in;;lots represented .biddings from. .£8 to iEI7-per acre, the latter being for the homestead block. The total value of land sold today represents a sum of .£36,587 10j. Four sections were purchased by fariue" outside tlis cOantjr,'

SALE OP PASTORAL LEASES. (UV TELEOBATU—I'RESS ASSOCIATION.! Timaru, February 27. About n hundred persons were in attendance at the sale of livo South Canterbury pastoral runs to-day, and there was keen competition for the small ones at Mount IVel. The acreages, upsets, and final bids and. bidders wero as follow: —No. 1, 2700 acres, .£303, A; Mackenzie, present lessee; No. 2, 2142 acres, ,£2OO, .£275, T. Blnir, present lessee; No. 3, 1210 acres, .£l5O, .£2Ol, Andrew Brown, present lessee; No. 3, 555 acres, •£75, .£143, Dr. Knight, present, lessee; No. 4, 20,800 acres (Black Forest, Mackenzie Country), JMGS, was taken at upset by llr. R. K. Smith, the present. lessee; No. 5, 4500 acres (Tasman Islands), .£4O, <£(U, W. J. Black. All leases are for 21 years,

■ ' ■ ' V r ;:S ' 4: — ■ WELLi HO TO H 6H ARE LIST. ■T; Beserve &E Li b |. Jg IlilCES. Yiol coupahy. " t J Forward, ph _ p Buyer. feller. t a i c . , BANKS* £ £ £ £ £ £ S. d» £ s. £ s* gew Zealand ... ... w t- • 2,000,000 {PH®! ' Si ] ° 813 ? I 1 ? ! n 5 13 6 National.;; ... ... .„ - 6)75.000 g b l tot 5 si 6 6 8 0 » u> o ' INSURANCE. •• - ' \ " Clonal „ 300,000 «g.M0 . , « » i 7 0 1 8 3 1 8 0 5 7 > \ New Zealand ... _■ U " iOO.lflO 1 2 ?. 10 , n Bouth British ... ~ SUi.UA) 610,618 4i to 2 9 0 0 Standard;... ■ ' ( ;>,w) W ' MU • J -«t. II) 1 2 0 lid' 12 0 613 1 FINANCIAL ' 'ffaoltablo' Buildlne ~ w .w" *: eo.000 „ 5 JO 015 0 Metropolitan Building ... ... , aw . 10 nil l is 0 0 MO ® "S Wcllfncton Invest. ... ... .i.> -'"to.HX)' ' j 1 6 oil 0 Oil 3 C11 3 fi J » Wellington Trust and Loan ... 4j,lub 6 6 a g ID 0 1 j ' ' ? J® 1 ? National Mortgaee ..5.00,1**) 2 8 10 2 11 0 2 12 b 7 13 1 N.Z. and Biter Plato ... ...■ ioou*) i nil 6 113 3 IB'O 113 6 115 6 Loan and Mercantile -• iswasi 5 ta i, 0 2 6| " 3 6 ' ■ cas. Auokland'... w w « '"f,. .,.168,903 £5,163 . . nil n H 0 0 14 ' 0 i' Christchuroh ... -. ~ • - - - imj 000 -•'i.-'>l-- -—nil • 10 Oil 0 Feilding ... — ••• i-/Wl 1 L " —10 0 10 0 (iinbol'DO ' ... ... ~. — «•;' i7'y*)'.. 10.565 j nil 15 212 '6 • Haver* " »• - ••• kou >S3 , 3 jo Hew Plymouth lb Uj0 MU J nil m 810 0 Napier ••• , 10 Lil io .. « ■- "• , ™ ;;; I 49,957 ssjm „ & 15 Palmorstqn North ~ „. J£o n,002 J} 9 10 710 0 . ' Wellington ' 1 ' nil. 1U 16 15 0 16 17 6 5 18 7 — . •" "■ ; lJ ° ,00 ° 6j lu U 5 0 13 0 0 ■ MEAT. ( Canterbury ... ' w „ -. 1B3 ,. 27 33,231.. , 7 i . .6 8 0 0 , Christchuroh » .'.nil. t 1010 0 1012 6 Bear - ;... .~ ■— , . x . nil 121 210 0 '210'0 . 5 0 0 J, „. » . - •••„ V „ ••• 1 ~ ' 1 iV" ' ; i t 12* iu 0 0 10 5 0 10 0 0 500 Wollmgton Heat Expor.t ...' •. ... ' , t ; nil b - 0 6 0 ■■ "• 1*105,766 '17.950 .1 j { .0 0 i 17 6 611 8 ,, „ ■>. ... 1 ...a # 300 316 80# 61810 Wangannl „ - ' 15-W0 B.G46 . £ ml (, 5 1.0 TRANSPORT, ' yy*5hlE.?. ftUw - ' ~ •" 170,000. ia,4B 1 • t 7 115 3 '2 15 0 2 10 11 Ji.Z. hhippiug ... ... ■ ll»MW k nil 6i 117 6 Ferry :' ' l> 111 U 116 ° 115 6 - 5 7 COAL ' , . " ' "" w -teOMt. 31 3! 124 6 3 0 6 16 "U1.TS1 - ••• !" ~ •" bo,U0D 1 #11 Tl 017 U WOOLLEN. . . ! v ■ Caiapo< ... tW - w ipa COO 22.E51 c nil 7 teuton- - ™ •" -'SSh' '«'•» 5 'a" 0 , - ,. M>euin.toa ._ _. i t 3 j 0 ,3 ; l b'3 rjj 716 1 MISCELLANEOUS. flonaeby Jiioe ... > E3.COO 161 1 nil 6 1 019 6 • Leyland «nd" O'Brien" 70,CU) Ut|>. 1. nil 7j 1 2 0 1 1 2 0 1 2 9 61110 Uauriceyiilo Lime- - -' -• » "'7.C00 Siii 1 "1 ,cil ' 6' 1 0 H.Z. Candle :10,t0U. •. kW ,1U '.nil b . 1010 0 ■ N.Z. Drugs J .. ■ 'ICC.OOOV' S£.'S0 3 - ml 7 C86 293 290 Sli » N.Z. Paper Uillj ... ,, 04,775 IfiiA a nil V 110 12 3 NJ5. Cement „ 60,000 ilto 1 nil ... 114 6 ilauuiup aiid Co. ... .„ M1 ; ■: tt.0UJ : . BW. 1 ,..,1 • '10 • 1 0 0 Ward and Co .. „ tO.U*) 14,643, l'l 10 500560800 Wgtn. Opera House „. lt.bbO 6 nil ttl 712 6 ■ . Wgtn. Fresh Food ... ... _ -..11,461 1 nil .... 0 1 0 0 2 0 Wnitcomlia and Xombs .40,250 -30.153 -21 • 2J 10 '18 6 110 6 . bnariaud. Ltd .. ;...- t;j.ui3 11,724 1 nil U 0 15 0 019 0.