FINANCE AND COMMERCE.

Dominion, Volume 2, Issue 519, 28 May 1909, Page 10

FINANCE AND COMMERCE.

-: ;': '"Investment shares. Vand.. business - ,: in same ■ > *'6u£Eered' from-Veniroi yesterday,, and nbVbusi- . "'j ■'■: ness was d6ne.;r, There;, were -very few. quota- ::'; tions,-and there, Were "more sellers than buyers, ■ '-' Bank of New Zealand, buyers £9, sellers iS 25., - National. Banis, ; eelUrsj£s;7s. (id.;: Equitablt '■■ Building, 1 .sellers; £9. Is. 6d.; Wellington -Trual ..and'Loan, Is."; FeildinK Gas. buyer* •" : Viei; Napier Gas,?,£lu: : paid, l -sellers !£2S 10s.-j .-,; Wellington' Qas.vweiO'paid,;buyers 417; 175., ? ''6ellers 10s.; .£t paid,, sellers ; £U; new ■ .v.'issue, buyers iEl;2s.od..premium; ChristoKuroh .'..';: Meat, bsyers-'iSlO ,55., sellers .£lO 10s.:. Gear 1 ■■■: : :;Meat^ ; \£4 ; paid,.buyers":ißlov2s/.Ud.; £1 'paid, , buyers ;>82.::115.' :6d.; "sellers ; £2 155.; : Westport ;■; '.[Coal, sellers <YJW ::95." 6d.;;'.Westport-Stockton ■''-•> :■■■ "Coal,: sellers Bs.;'KauriTimber, "buyers 145..8ti;, ; : -.'sellers .:15s. ;'vNew. Zealand. Portland, Cement, v ;;;.:b'uyersiiC2>os.- ! :3d./ sellers: £2 • ■ ls/:.;.--v'- ; 'Yv;v:;vS;:S;v^;?^ . ' A comparatively 6maU business ;wos ;dohe in !.\.'"'"';':.thi3 : sech(in,'''and'T^BiM'oraiid'JTinoUon''Bhares J '.';;-. ' .whioh .went.up t0.<465.-and 475., are 'How'- down '..-'■■ ', to 975. ) -■'-. At: the ; morning call sales'of;- Talisman /at 'i£2:fls. 3d./and'-NewiZealand Crown at > 4s. •■■' •; . ■ 10jd;' were reported, .'and. sales of 'Waihi Gr'anc ~ .Junction at^l-^s.-fld.^ahd^ew;: Alpine at 7s. ■ ■.■'.3d:-were mado : on"'Change'.' 1 ' At the.afternoon :> caU.Talismans sold ;at>22 Bs.-6d; on''Change, ■r-':/■■;'andi'B'i-.sale iof New Sylvia reI-.,- -...ported.-, :.The..-quotations::.with ,-last..;re'c»rded ;■■; ./-sales: ; werß;'as :under:—;'.■;•.".,'<■,.-:,'.. ■V:' : ::•'■■'':'S:v:Vr:':;i"u:'-;-'.^;.^ 4 • .Buyers. Sellers/ :.Sales. ■' v V;- ir '-:--'/-■? £%d. :. <£s,d:

; ; According .to a cable'-message publishes yes..torday,thcre(is.;now the-biggest boom in Kaffirs : ...... stocks experienced . since-1895 "on the London /'', -Stock Exchange'. This'booni lias been overdue V../. for'the past mbnths,,,for 'the.;Eand'hift ,been ; putting; out 'the yellow.'metal' in-'.iricreos- •'/■■ ing quantities. "In-1895-th'e--.year"of the .last ••:;■■ boom—the output woa valued at and ;■•.■•"-■, the dividends paid -that., year.', amounted to :.:/. £2,046,852,; but' these* figures are ; a...mere: crr- '■''.':'■;■: cumstanceto what' is being'. shown now. - Th'i '.'■..,■■ output'for the';first-.four months of this year . '".' amounted, to .= .£10,178,030, ■■ or ' more than '■ vim ;.". '•-■ obtained for: the whole of. -1835.,. Taking' 1895 '~:.. andUthe. five, years; 1905-1908, vthe value of the '; :■-'.■. gold output, arid the -paid compare ■.-■■"! as.'under:—,■.-.-.: !"•■.-/:'■ "':>'-' ~-■:-:'-',.,0."- -,

~-.' ;.:-"-;:';':;'-:' ?.-•-;'•* Output 7 ';" ", : ';.."'•''•' :■'"■.' .V ■'■'■ V-ji.' v. '■ : '.' , ; ■' /;.:Valu'e. , : iviDividends. ... : '■■'■.--. .Tear. ..■'.',:"■. :£::; :".-'.' - t> ■': .;■/■>>.:, 1895 ■<}■■■ ... ,-;V: r ;.;,; 8,569,555 '' - 2.04 C.852 ' -I 1903 r /'....-... ; 20,854,440'-'•■: - ■ , '■..'.... ;:;.;. ■: 24.616,704. . :' 5,735,161 v :_',;■ ~; .1907.j' :^.v-::;;i.;27,410,2l0 1 ;--'! 7,131:612 - \>X-:r. .1938 ■k'VN.;^':-':*'':29,957j610''/.v ; ' 8,751.232 1

, Thei/output /.for ...the.- current year. should" ex- --: • ceed and this immense yield must ;, ~; have -a beneficial effect : on "the trade -and com- '-■* V meice of : South,Africa, which ,has ; been trouI' '..Wed since-tho'close'of v .: - the Boer'-'War.-:VN..".v,:; : . '-;;;-:-,""..:.■ ■:: HRE; :•:■'■ . _The'Teport : .)b! .the 'London: and Lancashire ,'\-Fire Insurance. Qolripany, jvhich also transacts , accident- and.marfneHusiness,7 shows' that ■• last . .-;;- year, for the - first time, the premium income .:■• : ' topped £2,000,000, reaching £2,062,598. Although •■:'-■ not as satisfactory as ..the preceding year, the .result of tho operations for 1908 in itho : fire ■'■• and accident .departments, was' 'decidedly pro '..-- fitable.;-; The. experience 'in the ..marine depart \; . 'menty in common with most other companies, A - .J! 43 unsatisfactory, 1908.being probably one oi ;.:■■■■■■ tho worst, years for mai'ine:business that.has ~ ...been : experienced recently. 'Still, .the loss or ■■•:', ; that department; was. only ■ Another ■'..■'■'.-■ -outstanding feature in the report was the fad .that the financial position of the company i< . ;•'.;--- practically the: same-u it was•'at the end. el -J 1905,^ prior :t» tho; San Frandscb disaster, in ...-. ' : -which ' thsij company- suffered a, net loss oi '■>.•■•' ■■ £ta,Ki., .The dividendwa. 18i. per share .:;'.;'.":--ei2-.los. : paid.-/.C'.'.'■■,'-■ ':'■'■:■■■■ •■-..■..■ ■ /;:. \<X: : l CONSOLIDATED..;,.y,?/ .:,-... -The writer.'un'derttandi."from. : Mr.' si-We'jtoa who 'haß ! kit returned from a visit to, th< ;: --, .TalismanConiolidited.mine that tha thirtemtr. ... •level -hm- been succMsfuUy. 'unwaUr'ed. -• Th< . stationary-pump has been abandoned,as thai ';••;•■.'-level, will,sot be connected-with the compressec -air main, and a chamber excavated for thi duplicate pump .will h» ready for. installatior ■at -that' level., -This work should be .finishec in about a :moath, arid the two stationary -pumps—each with a capacity 0f'30,000, gallom .■•'.; an; lour—will -replace the . present >«inkinj .■:■:•. pumps,; thu»effecting aVsavinf i» power, anc ~;'.., reducing working expenses.'.' The level,itself and the shaft between twelve and thirteen, havi ~..': suffered ,io damaf* ,ffora their, immersion, an( a start -r.irbe at. onee.mado to open'up thi ...-, cast veia,. which apparently eomes into ' thi main .'drive .at a' point -.'distant about 80 feo ~;■ from the present Jaee. This vein in. the No .■ '- .'.;'■ 12 level, .has already furnished -i.: considerabl' -' amount- of. stone; :carrying'.fair ■ values. A ,- soon ■'.as. the stationary, pumps are ready ti ■ • - work, driving south on the main lode :wi! •';•.'.."-.'; Be •resumed; and .a: commencement, made witl : sinking the Talisman shaft-to the fourteentl ,'- '■'■. ■'..'love)'.; *: At'-flieTWoodstock shaft' good progres . v " has been made with excavating too old cham : ■: bor for the reception of the •niaw.,.winding'.Eeai

and big Cornish pump now under order,'and a few months should see the'work begun of oontinuing this 6haft down to a depth equivalent to that of the seventeenth lever from the Talisman shaft. When. finished 1 this will' onable tho 'management to prospect at a depth .whioh .the ore,bodies disclosed'in the_past workings ,on the .'higher levels of the Woodstock end,of the Talisman property. Develop-, 'ment work in the Dubbo-section at No. 12, and in the crosscut/east;from No. 11 toward the New 'Zealand Crown ,boundary,; has,. as yet,revealed nothing of commercial importance, although the welcome reef whioh'passes through the property has been intersected. The manajsement, considers, however,'that, the possibilities', inthese sectiohs'of ,the mine are not yet exhausted. vStoping-operations at No. 12 level have, proved,tho Bonanza chute there to bo of bigger dimensions than: revealed, by the drive itself. There is now a continuous run for about 500.feet of high-grade;sulphide ore showing in tho stopes at this point.' The drive south at No. 11 has been turned into, a crosscut west. -The,.present intention is"to continue it until •the'western boundary of the property (here at its widest) is reached. This will determine what .ore... bodies,;, if any, .exist, in this, at-present, entirely, unexplored' portion-of the Talisman claim.'V;- .-./■-•/. ■.. .•;;■ ....'-. -.._•. ........ ■; ..'•.••..•■/.VTALLpw' SALES." .'.'. (ni TELMttAPH—PItESS association—corratonT.j ; • : ?.- I '-;; '':' I „ ■'■' ''•'■ 'London, May 28.: Atthe tallow sales r 1751 casks were offered . and -1270 sold'at; par ;to 6d. advance. -.- '■'" MAKKETS. : .'■ :(j)t_ IBMauirii' r 'ria'ts>B3uaAri(w v -<.orTHinnT.) ;'"■■:;,, : : ' '.'"■'" London, May 26. Copper.—On the spot, £53 17s. 6d, per ton; throe months, .£6O 12s. Gd. .-."'■.,•' ,-'Tin.-Spot; 2s. 6d. per ton; three months, JE133,55.-■■".''.'■•'.'. .-'".."■ .:■ ■' >'■'■•' ■ . ' . Lead, £13 ss. per.ton.-.-■.<■' ;. oustom9 revenue, -collected at .Wellington yes,terday:amounte.d.to:,£l274 lis. 6d. / . ... 'NEW:; ZEALiND'''PAPEB, MILLS COMPANT. '■■% -Ji $?• ??^ GEAr ?~ rl '? !;s ?' ASSOCIATION.) :.,:-;. -■':•■ W- : : bunsdln, May; 26. Tho, annual meeting of the New Zealand Paper Mills' Company wits hold this afternoon,. Mr. : .F. W. Mitchell : (chairman of directors) presiding.-' ■. ■.■■■;'■■. chairman, in moving tho adoption'of the.report, said the directors were gratified ,to.report'aniall-round increase in business, with. a.,oorTC3ppnding;addition-.to.;tho profits. :The purchase-'o'f new paner-making machinery ™f wen AVhen it was in working . o ™ 6r >:We.companjr:would havo, at Riverhead; .the moste.urrfoTdate appliances'for';manufacture, and the' possession ■■ of -this 'plant ■ would mean a material,incroase.in,the output: .In spite. of .active; demand throughout .the' world •for iroo'd '.pulpi^tho.-company's'.'buying. -had ■ been so. successful: that the- Jarge. stock on ■i o °' t .' a :''£ o ? (i d c 4 less than' was formerly paid.:. This article, however, was.in such universal .;demand that' it was only. a question of. .time;.hefore .supplies must .bo exhausted. Fortunakly > ..in-New-:Zealand- 'there Vwere many other articles suitable, for the company s -purpose,, and.,they-wore not-:so 'dependent oh-treo9,as J mahy other:nulls;:.-->-. '•' , The report was' adopted....'; Messrs. P. W. Mitchell (Dunedin), and John Brown , (Auckland), wore re-elected m CO }T\ M !"J s Leary'.and Co. (Dunedin), and Mr,,W. Wallace Bruce (Auckland) ■•.were reappointed .auditors.,:,;;. -~ ;.'■'.' j WILLIAMS AND KETTLE, LTD; ;",. ■ (bi . teligeajh—piiess .association.) .' vW: "■,'• v ','. : "''" Napier,! May 2S. ■ The.annual 'meeting 0 f shareholders of Williams and Kettle, Ltd., ,'was held to-day Tho,:report and balance-sheet ■■■ wep«,'adopted. The report ".contained . the -following :-"Thb fw™™^f P £ aSMe in: "Wttiiw' herewith Iw C j nts °f company,, viz.,- the : balancesheet and-profit and loss accounts the year ondinfrMarch 31, 1909, duly: audited,'and {"« to congratulate 'shareho ders. oh the satkAo '"J Result .of the, past year's Vorking $L profits for the.year, after providing for'all net X 8952 Is. 7d., to which has "to'' be added the tini dmded balance from last,year, >eisso 19s. IM, ih. total-available-for allocation is ,613,503 Is sd. The directors recommend, that this shall b» appropriated as follows ;-In payment of I dividend at-th. rat. of 7 per Ji JZI 1 U cent, bonus, on capita bonus ef..n-.per ceat ' ok ttU'ePoda purchwed by. sharehold.rs 10 n.r cent. ■on eoramissioiis contributed bv ih.r. Kdders, i!loqo to Wplawd to the earned.forward. NotwiHutandinj h* felt throughout. th« Domini.n dsring- the n»«t year,'the'"buimw of the,company i£r, well ,m«ataii»d., -purin,, -%Si™ shares «hav9'%en tii» n an." : Tl,- retiring directon, Mewfi; J. H. Coleman, Wn"]""? and P. W. Williami were r»-eleot«d. The sum of .£550 was voted for bonu»e« to the staff. '■•'• "Wer«. you',very much... f riVhtencd ' durint. the battle, Pat?" Pat-','Not a bit, s , ? r q] ken'face, most anything when Oi havo »• back to it."" ■• ""...■■„. PHOSBHOL EMULSION ."builds bone and flesh. Invalids can tak* it, and children like it. " :^''-'; "' " " •'■'•-■ '-'-"•'" v -- '■'■'■'.'.''■■ : 5

:- : *phi^ i^<& I'il-^c^-' ■:.,; ; '-':; ■'"'■■■'v . IteEorve . &S 'ijab!-"-i"S ' : '• FBICES. " : Yield.. --A-.-"",: v.-., ;■...'■-.; .-, :?aldUp. Balanco a <n shire. rt.£ -.- .... ■. ; Last p>v«tor :■-'-->,' ?.^A^i.\--.,i"".';>; ; '-.N:;";-. , j.;:U ,.-■;. - F°ratrf.K|i • ,' fl linycr. Holler- gale,; I -■ '. ■•■*■' .* .«'•• fl - is -- a ' *..'•' a - *.'*• a •'. .v".:■;■'"•. "*: ™":;'~ .-■'•-.-/'•.-•i.'-i; .■■■". -876.(W ■■ 561,363 - 5 : ° U 6 ''' 5 ' '■' ' ■ . . v^'''.£»Uoa»iJ.~.''^- : '«''''.'m'\V'." < i; : 'X^ 1 - I imoM : "ST9.!!3() l' ft 15 1 0- 0 1 8. 8 5 1 8 ; : "> ; ' ; S'■■ 316 S 2 1 , 49 , SIS ■■•".-, — "i -.""■ :."• 15.0W .68.036 \ »*,. " J;i • ;.. . I. 1 -," T '.? 10 y ; •'■ -i.'-Wo n«ton Intent.,.;:-' :"■:•.....i'H-H ■». .. " ■•■nil's Oil g til 0 t'Jl ■*'aa°!.xr afa ;"' ;,'?,»•■•■*-.? n o8 jis. s u r *. •■-"■■'■'-''SS'fiia tSfc "' w ..100.000 -J3S.202 ,« B „ J ? 2170 -3.0,0 .' ■ g^^ng%&::,.-;; : v- :»■.'.{*; :1 \$}-l!ti -"; 9 \ M ;:V : ;' r 'V>Y:----:C';oAS. /^':-:'v.:--vW:-: :•■■'.•.';?■ v : >: ■■■■'.''■ •■>'■ ''•■' ■ "-'■■: ■*'" "■" • •*'■''■ .'»9 : J?, 1 w'n k s o us 6 6i7ip fe»ll!« t^5 Uroh • -- -■"•-, « •-'" .-160.000, ;'. 71,291 > I . n " - 10 8 0 0 9 0,0 '-W: ; '- ,B S'--A *» al0 -° ' aia ' 6 ■■'"■ ■'■NM^- h ~^'"--^^'- : :'■■««■'-v.'US. U -.;:.-.-■:'.;' : . ;v .;., napiw, r> :. r; ..-..'.-. -,-:-< ~- .■■--,., I ■■;-.•■:■..■.■.•. w . »u ,i= .-■ 25100. .;,;.,. „; : ;i -...,,..,, „. % .-«- -„-.;-.■-, LjiflU-sajM -6' l":"|- ' ■ . ■ ' v ' :■ '. ■:;■ "-■ ■ '•-" '■'-Z-.'-'»-V'Msiii n.joa - m "i: IS wm.o isio o 17.17 0 512 0. • ■'" Z." 8 ' 117 : 6 ' ■:« ; Ju 13 0 0 1111 li.1-0 I'll :A:/-:. ; -.-. :i .; V.- :'■ •■■';'• '.'''.'■ : l-^'" ;^-; :.J':i ; I83«:; \-S3.534.'. 7} jf: .J 10 5 0 1O10 0: 10.7,6 jr. 14 2. : <^r : * Z 1 ;il6M :1 : "-V f 10 »■ 6 . ; 10 2 0 HI . .;,v : WollInston Moat Export™ I ■'■-■ . -■:' j .. »« ■* ■■ fi i-H $ 0 6 6 6 6 :.:■,:.»':.:;',;...:',.: -Hi.-;- :J-: : '•„ 1. 105,766- -.47,550 1 -V k - J ,' -. 6 2;6 417 6 Cll 3m:i^^z ;^': ! i;t ':';i«e- :?■■»*■. ,■' •■■•;'.:" \^:° 111D 6 " 8 ■:':■■;. iX'.;'-■"= -V" : ■■'■ ■:■. '■-■'. ■:'-■'■.•-■ '••> ; -. : ' ■''/■'.'■^■V'K.ZiV8hIpplng.-' , i.;''V : »."-'-'..^ 1 ; „■' ■jrawoi.. : 115.508 j ■• "H S 6166 618 6 'B16 0 7 7 0 j;.:; ■.■■..:gmon:-Bwam«-':;. -^-^ '-• lUMWO '■ " "!'- T 9 • 131 9 115 6 56 7: y ;,, mBln.;btcam.FerrT"-...-t.r'-,. : ,.;v ;"i»oi«u- ..<.....,,-«,■ .-•; ;".^ u - ■ .,:-.,. .."..-, .,..; ; ; ;rN;..::'^:';>;y'coAu;:;;. : ';;.;:V/ : " ;• ; ;v;-; :■. ■■;•- ■':/■■•• '■ : .-.. : ' ;:.'- : ' ■-.'• ,;•' ;■ \ ■;■ . ■ Werfport -EEoW 136,675- ih ' 'H 7 6 6 5;s 6-8 6 616 2 .■:. westport-Stookton *■??. ;;vs •;;/«.,.' iitl.CU0' - -•- ■: "»■■;" ml •;, ■■■"!..'.'O'.so , ; .' .'■:. Taupin ....;.;:..;..-.....• .-„, -.;.,-;„ ■■:-»,uio' .- ,B,137 ' 1 !''.»U . 7J ' \i ■ ■■ : . ; '■■;;>-(:^^..-;-;;;wobLLeiii;;.';_.:,'/. ; vV :^ \:.;....,. " v.-- ■.;• ; -' ■■-'•■■'•£liiS2,^. ; -'-- ;, ' : " "'«-'i:w ■■''JOO'XCO'■■'■■-: £MBi' '6 -"-'nil-" '-.I ■"-'-' -" - 60 0 -,:"■ ■'■■'■ - -:--;-/w' ! r.« ■ ,ai57- ,sj 18-. 6 . . .- ■: - ,. S 17.,0 .:■:..■■ .-;.-;.:. .->.-„. , lu3 ,5i 8 . S8.2W . 4 ; ■ ;* .'" 219;0 3 0"0 3 0 0 '.8 0 0 ''•• '^^'^'H1SOELLAM^OUS. ;l .' ; .>- ; -:- ■ •.'':'.■-;:' '■ > : ■..'. ;.'■■;..'■■ -- . »onat!lH-:jRopii r-.\: ; s K.'/: - : ' : ■■ S3W ) ; . .■-■'-' jsi" 1 ■.-■nii.. _ 6 . '.-"'■'. ' '■''■•-'•." j. V |fiyl«na-MdrO'EriMi -3, ." :. : 70,OCO; -:.7iS6 ;1 ■»}}..-I 4 1 ll I is u'2 0 G16 4 : i MaurlMtmo^Lima V;700O- •-. 315 1 nil 6 „ ■•- ■ ■ .-•■'•■■ B - w -*- V^-v^8"*I 4 . : '::~-.' ; . : .■■■."'MS' 10 "■■»)}' :. 8 ■:-.■■• -, ,V.. .Ward and ;Oo."-.... : i. -■'.< ->i, -, ■■; ;tO,O0O .84,543- -4 , .1.: .% 4 12. 6 4 17 6 4 15 ; 0 . fi' a 6 ■■■.■■ Wgu;OporaHoaaa ..:.,".;" :i6.«so , ,wos ,b ,.»n i ■ --:•■ 'i2 6 ° - .0£et?. Fresh ':•. 7,065 .' ' ; .:.:. ' : ';1 ■;.": nil-. ;"" .'.-.- -..-..• Wnitcomba and 'i'cmhj ,-.--:_. 46.SM 60.158 /2J ••'.-•; 2j i0 :. .. . ■-.:. ; ::■:... ■.■•-■^■.■-"-.•.6i),6i3-"-.'--.-:.M,7ia---.;i,-yrnU . i 019 3 ■'-':".■'' .qi9;'b 718 ,o" takoh from thsdailjoffloial-lists of the Wellington Stooif •.' ; '•';'; ■..■•;-V;'.''■':'"!:" v^JY*'."''■ .■-" V.'-v. ••','■■'.•■ .'■::''■.";' ; . "'.iSMiaBi* ''■;■':'''"■". '.'■'.'' *■'.'" ' ■'.' '■'..'.'■ ..' '■-.- '■'.•■

Waihi Grand Junction , ... 117 0 117 3 117 9 Waiui Extended ... 0 6 3. 0 6 5 —'; Waihi 9 3 6 X 9 .5 0 - Waihi Consolidated — '0 2 4 — . Kuranui Caledonian — 8 11 — N.Z Crown 0 4.9 0 ill 04 101 May Qneen 0' 2 0 0 2 3 . — Saxon — 0 2 0 — Tairua Broken Hills 0 17 0 19 — Talisman 2 8 3 2 9 0 2 8 C Waitangi ... , .:. 0 i i 0, 4 7 - Watchman — , 0 011 — New Alpine, 10s. pd. 0 8 0 — — NewAlpine,9s.3d.pd.. —' .0 7 6 - 0 7, 3 Now Sylvia, ... '... 0 2. 61" 0 2 74 0 2 ! 1 Con. 'Goldfitldg •'... 0 16 6 — - — New Bis River ... — 3 0 0 —