COMMERCIAL.

Dominion, Volume 2, Issue 493, 28 April 1909, Page 10

COMMERCIAL.

•- THE SHARE MARKET. - 'Sales of Wellington Gas, £W paid, at Ml 175., Westport Coal at £6 7s. Gα., and New Zealand Portland Cement ot £2 Os. 6d. wove reported. Tho market was quiet, but values wero steady. Bank oi New Zealand, buyers.£B 155.; National Banks, buyers £5 Gs. 6d., 6ellers Bs.; New Zealand Insurance, sellers •E3 17s. 3d.; South British Insurance, sellers •C 2 9s. 6d.; Equitable Building, sellers £9 10a.; Wellington Investment, buyers lls. 3d.; Wel--1 lington Trust and Loan, sellers ,£7 25.; Wellington Deposit, sellers 95.; New Zealand Loan and f ' Mercantile, sellers 35.; Auckland Gas, sellers £li Bs.; Wellington Gas, .£lO paid, buyers .817 155., sellers .618; Christchureh Meat, sellers .£lO 55.; Gear Meat, £i paid, buyers .810; XI paid, buyers £2 11s.; Meat Export, £5 paid, sellers M 7s. 6d.; £2 12s. Cd, paid, sellers £3 Is. 6d.; Union Steam, eollere £1 15s. 9d.; Taupiri Coal, Buyers l?s., cum dividend; West-port-Stockton Coal, sellers Bs. 9d.; Kauri Tim- ' bor, 15s. paid, buyers Ids. 9d., sellers 155.; New Zealand Drugs, sellers £2 75.; New Zealand Portland Cement, buyers £2; Ward and Co., brewery ■ shares,' buyers £i 125.; Sharland's ordinary.and preference, buyers 19s. 9d.

/ THE MINING MARKET. Sales of Talisman at .£2 7s. Gd., Waihi Grand • Junction at £1 11s., Waihi., at ,£9 25., and Waitangi at 4s. i&. wen reported. The quotations were as under:— Buyers. Sellers. Sales. "£ s. d. £s. d. £e. d. .Waihi 'Grand Junction ... 110 G 111 3 111 0 Waihi 9 10 9 2, G 9 2 0 . Talisman , .;.... 2 7 3 2 7 G 2 7 G Waitangi 0 f 3 0 4 5 0 4 4 Tairua ' Broken Hills 0 18 0 110 "— Big River ... 214 0 - ' — Con. Goldflelds... ,0 13 9 011 6 - — The Customs revenue collected at Wellington yesterday amounted to-£1177,165. 4d.

TAtTPIEI COAL' MINES, LTD.Tho balance-sheet of the Taupiri Coal Mines Co., Ltd., for the year ended March ,31, shows that the net profit, after allowing for depreciation, amounted to X 35.190 9s. 7d., and there was brought,'forward from the previous year -23712 19s. 2d., making nn availablo total of .£12,261 19s. 9d. Out of this sum .61000 is added to the reserve fund, and' tho dividend of Is. 6d. per 6hare (or 7i por cent.) absorbs i>7312 10s., leaving JE39-19 9s. 9d. to bo carried forward. The /income from the sale of coal amounted-to, JG75,916 lis. 2(1. Tho mining expenses totalled .£53,586 135.; rent and Us. 2d.

;;!;: ■ j:<:-/ E SALES. V iW-;-J;:;:The.;third,;of itle series jOf London wool sales .;■ /Will ■ cbmmenceKon ■ Tuesday;'jiext,v.lfay , '4,'•' and ;S>;ing "the\prices ■ of■■ Bradford! ; tops/ it.-.-will ibe -'.!' ; noted from the following'figures;that',there' has ■';■■ '■-: been ;'n'b ''change •in "■: tho,-; value -;• of .crossbred ';.y:.i..ooMts,V : r : '':Tl}Ue.^fine:;; 'C/digitlyi-f;' ;';';;• : : ': '"■■: ': ■ ; >"", *V= v- : :;,; r 36's;low>crossbreds'ii.'.■;:;■.... : - 'Hi: ■'.■ ;•. : low(CTbssbreds; ; i. : :.v ;X'l2i : / ; '' '•'■'•;..■•'.'l''ii'a mediumvcrossbre'ds ... : .--13i ; :,;!' 13i : ~• ■ >;v- ;/;v sO's;halfbreds '.'.vi: ;.: ; 'i -;;-sS's. quarterbreds: ;•'.;;■*. .;?\ 19 •. , ---V i V'.-2nj-"". ; -- v :- merinos;/,.,;;/ .;'.;..--;i;.;.'; 2i;;:;.; ■' l 2S.. i .'j;'.' ,■;'■',.The.aboye.qnotatiohs.are those,cabled, to Ntyr. 'f:, .Zealand .by -the' High Commissioner;-. 3?ino ..■;:■ wools, ' asvalready .stated.-'haTe advanced,..and : '.'*.; this; advance is likely;!;toV.be maintained. But "•V.-v/ehotild i.there.be/a.': further, improvement then ••:'";, crbssbred *pol should move in sympathy..' There ■•''• ; i is, ''however, another factor : .to. be: taken into aei.'':!:'; that is!;the.-European.clip, 'Trhich '.:• is':now.;in'sight.'-The.nearness'.bf , .the' clip may '''}:■■ ■) steady -orv'even., depress"- ; the market for./cross? :'-'breds ) money, is plentiful;and-che_ap there ■V: is eveir-probability .of-the;market being;held .■•'■'i'.:np., On tho whole ,of the 'evideDce,;available it.: V -'Beems'. l likely: that' Crossbred :wool : 'mll' sell/ on .' - x a parity with;'the-closing ' ratesyof , .jthe .March V-.r" sales,' with.sqme chance of., a slight advance .if '•"v ! : finejwools/move/higher;: >i-'.:'\:- -y; r ': h!''"■''■ ? ■'■" : '•;-'■ The following is a'statement; of Australasian ' ; ':'.: wool 'exports;from; July: } 1,; 1908,, to. iMarch■■■ 31; : ":. •'•ipO9;.-;as ■compared : .; L with.-i.the. .-corresponding period last yeaT, compiled by Dalgety and Cb./ 'i';Ltd:— :^;: v -:;--v.•-■>-•■•■< ; -:.--., :•-■ v" , ■:••..••;/■'"•••• :■;;: '-'i* ■ - ; ; SI9OB-9. 1907-8. -'■■ .;■■--: V::-;'^ K^ : V:';:-.cy/-iBales:;:M;" Bales.-:: ■; Z ;-!:Victoria- ;^:^'5: ::.;.v438,843i :. v; New South%tes,..:S(M,l6Kv:'/ i 6BW39 !T •■■'■ .■-%■; Queensland 0 f AV..: 150,485 A;il2Cplf /i ■•• •■' ; .South ; 158,678 v; i/.156;894vVv Ui "•--.West;Anstralia. ■ :i. ; 54,221' .v J: ;i■'': : : :- Tasmania ,-■ v...-; 18,896 ; V; ="'-14,523 : ?vl New.Zealand:Cr ; ; i v.. ; j4l4,273,,/ : ;,;: 365,073;,; ■■ ■v-'v;'/V;::'l^; : -;:■;-::■'. ; : ; : i^.095^557■;/.! r 1,'835,934 ",'jj Mn •There tiy^thu's 'been: a '■'net increase -for tho: ■■■: -' - : mine : months ' of- 259;623 bales," of. which :New ■■< Zealand is'tesponsjble for.:49,2oo^baks.-"'"-'..::.-

".■'}■';■ "■■ In common with, 'most otter coantrics. Japan-. ; trade•'suffered , ■ : :."':. ; -imports/of: the,'country ilast 'year,'.amounting :V'v^:>'-io"-JM3,6ffiibop;\sJi6w?a : (Uiriiiiitttion;of.we5,KO,(!00,. '■■'■■■ :•'/■'■■'• or nearly 12 per;cent., as'against 1907,> wjiile the. .-. ; . exports of .£37,824,000 are!<Es,4l7,opo,'pr. upwards .'"''•■", of 12 per 'cent., lower/' ifmay' be -observed : : '.v :'-.'-here that:the trade-balance, was,'again consider-; ■■■"■ : 'Ably. against the country, arid;'no rdoubt, partly ■'i ; -u- in consequence of - this, there was-.:a,'net export ■'■ -.v; 'of bullion and^specie."amounting;, to £570.000.- : i ; i" ; With ':'the -. chief,. exceptions.. of: waste ■>silk, • '<:<} ■ matches; :■ and rice, .exhibit; '.".: v :'«pme advances, '. the decline, in , .the export busk .-'■ .ness affected all .tie''staple''industries'.of ■: Japan! ; ..'"••' the/principal reductions 'being in., raw arid* :':. manufactured silks,, cotton .-tissues,, and; yarns,, ■'"■■■ •• iporcelaiiv; aid'earthenware,; camphor, 'coal, cop-. ''■'; ■■ per, straw-inannfactures, ; and. cigarettes. l '.V -■■■'.lower prices, especially as regards copper: and : ■■.'•'■' coal, have probably had something to do with ''■■ : .-:.v~. .the;decline shown■ in-total; values, but in. addiv.' jlion there was' a very' considerable contraction .'>.-■•".'.'■.-.inithe'vo.ln.Tie;of business, -In. the.impotts we ...■find a dccrease.pf. well'over ;a' ; 'million sterling' .:.-.' ..-'' in the -food, drink, , and,tobacco bill, and, so .'■'■•."•'•:,' far as , this, wasydue. .to! /better 'harvests.:in' ' v': ■>v', : Japan, it is matter for congratulation.:. In raw ■'. '■■■ ■':■:'■ and semi-raw;materials, .however, there was -a ;,;.. reduction of 'as;n>uph:aSiW,22s,ooo, or about 16 ..-■'■,:■■'' per cent, ' Here,, again,; seeing ;that,more than ,::',... 'half :thetotal 'decline: was invraw" cotton,' wo. . : .'-'■:. ; may - assume—the' 'quantities { n6t; being given' ■ .;. on either; side' of the. .'present returns—that a .;■: portion' of; the*, vdeerease was "due : \y ■ '.prices; ;butithoyoverhead reduction is ;sq"large , : . as , to point- to" a\considcrable : slackening' of v" industrial activity:,in ''Japan;'-. 1 ..Lastly,;.'rnanu- .. v : factured.'imports record 'a drop; of i:585,000, ■-." •'"''; and herel'we have .'a ifurther indication of the ; :': prevalence-of : .hard- times/.. -This impression is ' ■■'. -*■: likewise, strengthened by! a ■ slight; but,,signifi- -.';■-,-. '"■■' cant reduction in, the native shipping.returns, "■-.'•.."'.';. since the normal condition' of- that business in ;-.-''.-:■;'', Japan, is.'one.of/steady expansion. , .' .-:..' \

::';:]■;■. ■;; . TWO COMPANIES/;;-.'; '■■■ ] :, '. '■;. The results of :th"e ■ operations for : 1808 of two \ 1 gTeat steamship companies, thp Cunard and the ■ . ■ Nbrddeutscher Lloyd, have v lately, been cabled, I ';.' showing a; great falling off. in earnings for the ■ .. .year. Tho Hamburg-American! Lino has also ", ' -''made- a ,bad display/:no dividend -..being.- de- } '..;.'"clafed. ■:. '.. The gross profits' of, the: ; Hamburg- ■ ".'• American Line for; 1908 approach .££oo,ooo, and - • .-. the official announcement: inade "-last month - etates that after deduction of interest on the ;.■'' .priority loans,-.-there remains 'about .£650.000 ~'f available' .for ; depreciation and ■ reserves. This ■ '"■-. appropriation is'regarded: as sufficient in view of the ;large amounts; placed■■ to.- depreciation ; ''.-■ account:in::former;- years,:;and having- regard also to tho fact that throughput 1908 .a: con- ■ 'siderable, and highly valuable portion of-.the ■■ - '■' fleet was, o\ying;to'the bad state of trade, compulsorily ;laid up. The .above figures compare : .-with thertwo previous■ years as follow:—;. :. '.-■■:- ■■■' -•'■ • :■■:--> 1906. • 1J907. - 1908. :'. ':'•.•■ : - Trh.:\ -■:■:■.'■ £.■ ■'■■■:'■ £.\ ■:.,■£;■':: ' Gross receipts ".-' 1,723,471 1,367;77i- '800,000 • Profit ■' J "'.'C-'• : ''.:. 1,615,178 1,261,775 650,000 .-; Depreciation, etc. .:. 1,089,110,.,889,832 650,000 Tho dividend in 1007 was 6 per cent., against ■■''■■'■ 10' per cent, in 1906, and.ll per- cent, in .1905. '- • '■'The main ;cause of the decline,in business is the collapse in'-tbe volumo of emigrntion from Europe to America,-'in consequence of the crisia of 1907, and the depression from which America hassince Jseeri: suffering..' .. ';';'.: ■■!' .-'■'■•■: :;, V V; :NOTES/'; ; ;, ; ;.,'". 'r;\ : ' r ' ■■- in'ilJiOG, exported 955' tons of, ramie, :.-:' and in J907 !5]t33 tons,- ;.;.:;:'... . •' The production'-of nitrate of, soda in Chili during last yesj was.42,9oo,ooocwt:, : as compared , :>ith 39,900,000cwt. in 1907... :''; .. ; : // : J Extensive eiperiments hare been undertaken in the Dehra Boon 'district of India by Governmentofficers, :ind it has beon proved that 'tho >'- -■ manufacture cif turpontine from the forest pine trees -is-capable, of being ..developed into a;large and profitable industry. ~ : :- :- '■;' The consumption of beef .in Osaka, Japan, continues" to'increase rapidly with the growth ■.''■■'■•'■■' of' tho population. According :to the :latest returns 1 published,-the cattle slaughtered in. -.■:■' Osaka for food number 15,000 per annnm, in ■■■ ■ addition: to 8000 - brought in from Kobe and . other places,:making a total of 23,000.'-."-Cold-. meat from Australia is also:being tried s :i irith success. \<; '■'['■■ ■.'■-■■■ '■./-■■ '■.':■■■■ ■.■"■ ■ •'■. '-.'■■"

■■■■■'k Hindu engineer, experimenting, in artesian, b'orine at-Patiala, says a telegram from Lahore, a spring of water.-100ft. below tho surface, 6000 gallons an hour through a'3in.'tube. -- • If; is, beliovedahat the discovery. :may. .revolutionise-. local, agriculture, lrfiieh "has languished 'owing to; .the lack., or ■irrirntion, as "the artesian stratum extends apparently from Patiala to the Himalayas.

' -The \TJnited States Department ...of /Agnoul,turo announces,,that : in the; unanimous-opinion, of the, Board of Food'.'and i Drug. Inspection; flour' bleached by nitrogen; peroxide is an' adulterated product. under the Food. and - Drugs Act of Jnne 30, 1506, and that the character of .■thi adulUration ;is such that,'no" statement upon tho label will-bring bleachtd flour witliin the lav. ",*:. .':*:': ■'.■■'■. .-■■;'..';'■■ ; .-*■ ■

; It is .reported-,that', candle^akin^-is, pro-. gressing: : in -South."•Africa/ .At Capetown tho South .African Candle Company^.works are turning .600 cases' of candles per month. Several varieties are .manufactured, including stearine, sperin, : paraffin, mine, and household candles, eto.-.-As no paraffin.is. at-present produced in tho'colony, the wax bas to lm : ported'.'.and in 1907 imports.of the paraffin wax were 3,739,9471b.; , and of stearino wax 629,4271b.

•'■"• At Monta Crisb, in ft'o most' easterly part of Cuba, 1500 ft. above sea level,. about fifteen acres were 1 planted with Carayomca silk.and about' , fifty acres with Caravonica wool.cotton, with results most satisfactory,.for both vane-, ties. V; The trees have borne; and- are bearing, very -richly.'•'■ Samples of the' cotton havo been sont to several experts in America. and; Europe;: and from all-quarters the,co.tton has been praised for strength, gloss, and length of staple. The trees aro planted at /a distance of 1 ft. by 7ft. but experience ,shows that Bft. ijy.Sft; would-be better on .account of ■the gr-aai growth of - the:'trees/; ,'_;' /■ :'' ■;.•, ■.. '. : ~:'•'...',

.; The value of. the cassiterite output. of the Tranavaal for, 1908 was'.just.'under, ;,«100,000. This fitruro is locally quoted' as proving that tho tin industry, of the Transvaal. has . alreadj . .experimental, stage, -but. the output, l satisfacttfrf: asK it? is? '.by np means 'represents ithe total prpdueihg! , ability; of the: .Transvaal 'tin industry even at this early ]iincniro. As a matter of fact, the""outpnt would have been much greater for.l?oß.had nit .the"'majority pf the 'mines 'restricted;,' production in, order .to' concentrate 1 all'energy and activity on. develop-, ment and t!ie'erection of,'«quipmont. ;: :./..-.

■ ■ : FETJIT AND PRODUCE : BEPORTS. i; The -'New. 'Zealand Fruit and: Produce Co., Ltd.,- outline the : weekV operations m their fruit and produco market as rolloW:—! he market for all kinds-'of. fruit ,sh(>ws. improvement The 'same ' applies; to : -toe,; vegetable- market, especially: French "beans,: 'a; line. of,which realised up to 7s. lOd. .per, sack.of Mb itfhe .following prices av3' ruling 'in our. market •—f otatoes, "3s. to 4s. ,ewt.;'.onions;;-ss. .to :6s: cwt; carrots/2s. 6d. to is: 3d,; turnips,.ls. to Is. 6d.; swedes, 2s. 6d/ per. ewt.; parsnips,. 2s. to 3s. 6d.; -'beetroot;-2s; to 4s:; mftrrowe; Ms. to 25.; cauliflower, 3s. to.7s-6d.; red cabbage, 35., all per sack;-pumpkins/. 35..-toi ss. ;■ cabbage. Is. to '2s.- 6d:VFrench-beans, 45., 6d.' to 7s. ,10d., part sack; celery,i'9d."to. 2s. lOd. doz.; tomatoes (Hutt ripo),-3s. to;4s.'Bd.; cucumbers, is. to 65., banana, cases:' lettuce, v2s.'".to 2s. 6d. case; 'spinach, Is.' to Is; Gd. case; apples (special prize ■apples)Mp to 9.'.:Gd., cooking 4s. to,ss.;.pears, 3s. to '4s.' -half. case,', full case Gs. to 95., coolcin" 6s. 3d.' case; quinces. 3s. 6d. to 4s. 6d. case;.eggs .(fresh), 2s. 4d. per dozen; eggs.(preserved)'. Is. ?'l. per dozen;.; hens; 3s, 6d. per pair;' ducks, '4s. 6d. per pair;;turkeys, Bs. 6d. •,per.-pair; ''chaff, -£3.Mb. ;.-oats, \2s. -'-to:-2s.. 2d.. bushel; bran, lfls. 9d. per sack;'peanuts, .225. sack; preserved• ginger, 6id. per.-lb.;- -. ; ■ Messrs. Griffiths and Co., Ltd., report yesterday's sales as follow—Potatoes, 3s. 9d., 4s. 3d.; onions, 6s. cwt.; cabbages, Is. 6d. to as. Sd.; caxilillowers, ss.:to 6s. 6d.j beans, 55., Gs. part.sacks;,tomatoes, I?, 9(1., 2s. fid.; lettuce, '3s'.'case;'penchce,'-35., ,3s. Gd., half cases; apples,, choice-eating Bs.i 95.,- prime Cs:,' 75., "cooking; is. 3d. : ,-Ss. jSpears', choice desert 10s., lls.; prime dessert .GSi, 75.',' , . cooking'4s.,'-55.; ■ eggs, 2s. Gd: doi.;' fowls, 3s. 6d., 45.: ducks, 4s. 6d.. ss. at per pair; pumpkins, 2s. 6d., 3s.;.celery,,ls. Gd.,--2s. dozen. A lai-go. amount of business was turned bvev yeetwdny; and prices nil;round hardened on the preceding-day's market rates. ■■

.':.-. '.!• DIRECT SUPPLY CO., LTD. - .(BYTKLKUuXrU— VV.fAt ASSOCIATION.) ..■.;..■:.>:■ .'..' . Auckland,; April 27. ■ : Tho annual, meeting' of : shafeliolders .of the Direct Supply Co., Ltd., was held, this afternoon, .Mr. John Brown presiding.. Thereport stated. that the company's operations for., the year had resulted ir. 'serious loss, which occurred during the : first' half, of the financial year through heavy writinpi-down and disposal of a largo quantity of goods deemed necessary by the manager.- The,chairman, said.the direc. tors' recommended that the board bo authorised to receive offers for the business, aa a goin concern.' The board was now negotiating with a Melbourne firm for. the sale of the business. The recommendation' of tho directors was ap■proyed. , , ' v .'' • .; ■' .-•■ - ; -. -

; j./',; ;: : LIVE STOCK SALES. ; .-■ : .. '■ ' Messrs. Abraham and Williams; Ltd., report on thpir.'Johnsonvillo sale,.- held yesterday, as follows:—Wo offered a fair yarding of cattle 'and a small one of .sheep, which sold at late rates.' Best bullocks, STt .l2s;'-'Gd. to light, £6 to £d 10s:; good wethers, 12s. 3d. to 12s. lid.; ewcs.'lOs. 2d. , .- .

'•The New, Zealand Loan and Mercantile' Agency Co., Ltd., report as follows:—At our Hiintoryille sale yesterday we had a good entry of sheep and a sinall entry of cattle. Sheep sold: well, and-there.-was a general rise all round. Cattle , also".sold .well, particularly ; 18months steers. •We quote :—2, 4,' and 6-tooth owes-(small). 6s. 3d.; full-mouth ewes, 3s. .2d., is. 3d.. 4s. 8(1' 55., ss. 3d., Bs. 2d., Bs. 10d; lambs (small), 3s. 3d. j'fat-ewes,-Bs. ?(i.; fat cows. £3 ss. to ■ M;' 18-months steers, 365. j 18-months heifers, 2Gs.;'2i-ycar.heifer.s,37s. Gd. : . "

■ .',' STOCK EXCHANGE. . ■;■■-. (BT 'TElßGnArfl—rilESS ASSOriATION.) .:•.■"-. Dunedin, April 27. ' The following sales:. wero. reported on th« Stock Exchango to-day:—Westport'Coal, £6 Bs. 9d.; Portland Cement, £2, £% os. Gd., and os. 9d.; Portland Cement (new issue), £1 premium ; Bank of New Zednnd, £9; Talisman Consolidated, £.1 7s. 6d. . . : -: ■:■■'■: