THE SHARE MARKET.

Dominion, Volume 2, Issue 527, 7 June 1909, Page 8

THE SHARE MARKET.

wber at-ir-2sV ; aiid;WelHngt6n',Opera:'House.at ';■ i£7'l7s. ,; 6d.' --iter© ■'iepotfW:L'Bink-f-oi;.'New;-;Zea s i' ! )Jand fii-'mea Jiili'ghtlylowing!.to ; !th<i "favourable 5 balaiicfrsheeK circulated,' rand ■ bnyah; .offered >£9 < :"'ls;- 6d.'"' .■'J National y Banks, .'sellers': <.M?lbS Ma :' ! .'-New vZealahd .''lnsurance,.;-buyers \-s&i. Hs.. ; ;6d.'; Insurance/buyers ■'• ■&' 2s.f ; 3d: ; "lEjiiit.paid),, ;^bnyer3 :l £2'l23;VMsat':Expor.t;(i4''paid) ( -Sellers iS:jes;i'W2 ; ':l2s.t 6d; :#atd);" 'JBt;i.U.'i \ ;Kaun • ;14te. - -9d.l'•-'sellers';. 155.:;. s^o'Brien^Tiir^rjvsellersM^fe. l 3d;;;NeWiZea T Inland 'Portland ;:Cementy''buyers *s8&;-ls;;;'i.Sb.ar-: preference), .ibnyers. 195.; £; Ta'ranaki: Betroloum,;;Mllersf cr ■Hfei-i fe A~ , saie'''bf':T^ :i ! ?''Change'on Saturday,' i and':ahothei!.;Ktthbsame was, reported; ,;V A. salo'pf ■ at'l7s/;6d. ;.was:also ;reported.: The ■slftubfa^ionsi&rn^^^ ?M*&*#;WJw;<%:&s:teyafr drri :£ s.,d.' 6 Waihr G'd;Junotibn:'"2cWfi -;f-2;''M: ;,>:.•"-:■; -;Waihi-v''^;»v/.;:.^.V^9;^!''o^u;9^3vfl;K;; i :,-7-j" ■* Waihif''Consolidated";:d-: - UWMV-tfi P'lrti j '5ax0n¥:.v.;.5.::.:.;:..:^:0., vmM \ -w • '-'Kuranui .^Caledonian-i'-.O.Vj V.;0.-i' 0 ,-U a,,:.;.' r s>;New'Alpine (10/ : paid):;; 0 -v&v 9£ Q ■••'•9 '■ Mzt ';-y ffi> NewAlpiiie (9/3 n ~&*-5.&&-% %J;ftMuchidbpe^^ ■ft States, ovetoentuv .that ■■M'TMt' :, c'o^try. ; .'«Qrois'ea-'.:aV~world-mde.vpttrrafc. Sfi and our-oTO ; f6rls&M^Jraor6;pr;Jess,affetted ;.s'. ; by.;the'bbffditi^ tfMa ! a ':wealtti;tpf#»Pt'ricS';to'; showiMat'. a -change :«for theibefler'hiw-begnh; :;MesOTS.sHenry,Clews i'ah'd'Co';-:bf .NewV.York,';:. writing, on .April ',10, i'f' jay;—" General ? trade;'.conditiohfy;,while'; somen-. ; -:<what : mised; oFhope'j}it ulness. 1 ' ') :Busine3s- : Js'i>strictly j moderate riivTol-. ■;■.'V uuie.iyet 'the .tendenoy; is',certainly.'.towarpVim-: feprovem'erit.K'esrKcially :'wKe're',brders ihave' been XHBtimulatddi by/cdncessions; in'prices.-:,: More. aci : v'^tivjtyisshbwhXiri:^ ':fifbf;iow«r,V!-pnces;:ind''tfie'' : ieyiTal-Vbf\buHdinß,'' ■V,:]espebially;of ■,■ large, structures, 'is:;'attributable ? ! ';vrto'.-'this' busi-. $Snesi iS'SOuri^vand'confidehce,is: ; \"i\ is "nbA'doubt '(that; recuperative,.; influences; are «S!iß,teadiiytat:.wo'rk;' cbsts'jarevbeingi reduced, .and !;<K only;,itimß:':is:' : requir,ed' .to bring ■>nbqut :-,inpro :vircinbrmal.'lcbn'ditabn3.'' : r : Si; '".'J.': \\j?. respect',to .the: iron-'and ;steel;;trades; borders' -booked: for, '?.'>.Btrubtural.-vina'terialv: during i;Marohi exceeded #:'l2S,ooo'toM,^whila\bidsw«re > 'pTit;in"dirrJnfj l ib»t' |:'r:'perio'd:fbr.'2(piOOOU6hs;-: oyi'heavy-.ind lightsectiomrailsi'bboke'd'in'ildarcn,' VjA was ostimaW^t'l3o,ooo/tbhsi'-'repreM'ntinj.only i'P.i a.: small .fperce'ntagbij pf '/mill :>;((: business £&' arid '-' foreign!': shipment;/; amounting, jSto'*< about ivV, 100,000 and ''i'S'Wny':6ppratifldj2o2':out;.bfMts, and '".S it 'was:.'eipeotea;,that ;an"b.ther':'pf •SJ'.-S'.bft? at«work [ MrLf a ?i short .:space.;,pfAtime.'>.'j,This it\;>wTOld^ean: ; ;tha't;thb;.conipan'y | ;'wbuldibe ; opera'V;v:ulirig'i;a's.'manyiinills;as. it did'.'during-.the'higt ;'vs!"cpr^urß;i)eri6ds , .;: : j ! "'rVX^ : :'c/> 'ffi-y'i With': regard' to.: the Revival rbf: the building ■iiVKtradb; in'; tfo. United *estira'ates :,of.''expen- ■/:"£•: r diture.fbr- new 'buildings,- filed, in': tho month pf :,!}- i: : : Maifch''"ol ■■< at^hiriety-fiTe'^j",oitics, i:C-;^l6;^6,o2o^ah:i : inorease::,of'^6.;pervbent.i over fi.i February; 'and- of .'B2 per r cent,':oyer,' the .month ; Wbf ; : Ma'rch :a. : "yearCagO.:. :: .Fbr/the: first':.quarter. ;, %'.-bfil9o9, projected : expenditure '■: ngpTegijted, ; ,p'eribd:,of l!)()B.'.These; : t'otals i,¥;.,fpr the 'first .quarter' compared: favourably .with fii*:: all'-but:the ;m'ost:'actiyb.>perib'ds'. ; .bf; the>: past^v, m : of ; ; the' ; .Bdard Trade - 'has fey introduced •into.'the Common's: a; Bill :;';^'c.."to iprohibit.-VgamblingiO'n^iloss^by.'.maritime ;:o:Mjerils".;':i;Hbjlßaidithat' , thoro wa3-;aV'class : of 'Jt; 4 P.P.l.; ; (Policy;.fProof of-Interest), business: with 'SJS which- he.:coiild' : not see "his- w'ay:.-'to ihterfeie; .^^but' -.jtbere)" we're" also*;- policies . by -/periS;..'sons .'entirely' iinconne'cted with a-'ship.: or, cargo :;:,'i|who;could,.;gai^ .::'.flni faet,--they, could-ony.Jgain: by-the loss, of .the -a';;':'Tessel. : : (Such -;irisurances\were gambling. in the :?>•':.true'sense of:|thb:term.; They.jwerb'dangerous the, last'degree.; -All'kinds'of : : ;<:;i'honour policies'wcre.based..oh;someibpna fide ;j Sj: interest, of rthe ,'assured .persori.iiiivthe'shipor s;KJCarg6;';and:wefoVih'harmony .with- the/general ';':;.. assumption thrtt a 'cohtraot:of-m'irine t .ibsurance ' t'Sy Was 'based "on-'indemnity: ';ThercH's bt'-policy :-6.:.':v:witH ; in'-'a very •i;". : *:'. ■- different:: category::: ■-.' The .'Bill .::wnS: directed •V' C against ; r vessets'.::heavily: mortgaged and: .over-::.;v:-!:'in3ur«ed,un;a-'bad state of repair, .undermanned, :'&;''(with.'dangerous cargoes.■ .'Such-vessels, like.'n animal,:attracted,the became,,the;subject of .insurance-.by'-peo; S%i pie.living far^away'-jfrom,the.'sea.:whb.'hai.nq '■■''■ : ':k' interest pf .Jjahy:.kind.;in.;,the ; yessel.'.'.'and rwh'o ■;y::.;lioped.to:wiriabet by the ship being lost; .The :■>;.';;; (consequences of .-this 'practice' to .shipowners •,;«■■:: were,very injurious V.for.ships which..acquired '■-'■$>■ '{the::reputation'.of -being • spotted : ships. became gamble, 'and, insurance pre ;-,'->?:ininnis' were" raised against..the owners. '.(Thej "':.':>' '.were::'iiijuriouS :tb:;masters.:f' v ::';: w.rnck' occurred.: the .'foulest.; 'iv;;;:rTO':'n'ttimcs''-ard^ fv.i'ifnl of tlicif.Todutatipn."that';P.P.-I: ! policies wen ;:-'xs?ih:practice' never repudiated.. --TKb result -wai ;: ;;;-? th.'y'liad.'.nnJ extensive: system .'of: ..based".', on:'.no legal ■san'ction7 ; 'but'"aS' K■:V''en.wli-.iiir practice,- ;.'P.P.I. policies were, faker persons --.who ?had a real anc

whb^'availed.themseive3;..pf-this method; of;safe-' guarding that interest ''/''Mixed, up. with' this busin«sßMva3,the.dout)tful<and unhealthy'business the nature of',over;and double for WwKioh': P.P.I. 'policies w l of discriminating; -between: these two' classes of, P.P.1., f6r;iif': ; with-'a'-rou|h- and, .clumsy,,'hand' they. vi(ere jas'.,'such: they might deprive' the'-British-; shipping industry - of •: p. highly" : cbnvenieiifp'roc'es's-and a' .valuable lubricant -used ■ dtrilT : transaction.'. of ■; business. Bute the 'lanAlihg.'wilh'whibh' he. proposed. to deal;'.'as tjha', had,, s"aid;;jva'B: ; dangerous., in '?the last .degree?;.!.He:had;.cbme ,'to an; agreement with the''underwriting; and shipping interests as.:tb:the;mode,in'which',his'; object should;be ;;£;■//._ ■; : : : Iniult the -British Budget a' 1 bHsk':bMtfcsHvas>dan'e: at; Lloyd's, in .insurances -against 'increased;taxation." ;is-much as' 25, guineas;.was,.demanded.;for 'each .£IOO, policy cavering-,'ihcreased."duty'on. tea and 6Ugar.- On tob'accoia'nd cigars the premium-quoted wa5.,35 guineas,' and on champagne and, suoh ; luxuries H)^guineas>'. T .Tha-highest- premium'Vfor-,these speciaUcohtingeric'y; policies referred : ; tof.motor* cars.'.' ( quotations .-running'into i; 70 per ■;■'- As : |rom*Ju'ne: 1 the Federal' .Government proy hibfjts •:the l 'importation -into' ,tho Commonwealth or"'matched^'a"n^,;vestas;. : containing;', the/'subi' .V : Th&-Betl|lehem':Siteel -Company,' U.SIA., makes armor-plates '-at '•'•&s) <a/ton,-: and:. charges;", the United ■States'.Gbverllment ;';■- ■;'.',';,,:'.. .;■-: ''Thirt^'bf'ifh^2oo;hQUsbs'uider construction in.'Buenos'Ayres. for^the. T w.brking people, of,,the jity'hWe'heen.opened,to.tehants. These houses were, designed;and built/as. model-dwellingV.fpr. the workers in : .that litjfj' and-'it .ist.believed:td.irepresenfc the begin-nirig:ibf--an-importantimoveinent.'in the .direcÜbtt^otipfbyidingihygienip'house' 'accoinmodaJ tion,i''fpr ; ;popr;people. •;■'-;•;'v,/- .".-'■',-V- (\'A : /■ ,-. : ;Cusix>mli' ; reYeni^ BaEurday.'.'a'inbuht'ed to' '41353 N los3d; ; , -The. tqtal revenue for Treek ; -was. .£7830,105; 10d., :beor £195' -Ms'."'-"-' l?or 'the'' corresponding week in ,1908 theHotairwits.'','.£77o,B/ 155.;;10d.,;. beer ( 75.:, 'A r.Messrs. : . Abraham 'and .Williams;-.. Ltd.,/ report as follows on;, their : Shannon, sale, on June 6m'all'yarding of sheep-and .a 'airV yarding, of Seattle.:" \We. ; . quote:—-Fat'-and 'brwafd ;ewes; 3s.'' 9d. : to '9s. lOd.; forward ewes, Is. -Id:;'' heifers, '-: in '■ calf ',£2. 7s. : j- springing ieifers;».£3..ss.;6d. ! to;.£3 Bs. Sd.. to;.£4 lOs/Gd.; leifers at: drbp;V.£l 125.-'' to £5 75.; fat ■ cows, £3"175. to ,JS4: Bs.; yearling, steers,, 345. ,6d.; impty, heifats, 1 30s. to 2-year Bteers, £2: Gs./GuV; -yearlitig'.heifers/' 285. : 6d.' ;, '\;:f■•;..; i:: ; 0 ':PEILI)ING- MAEKET '■/.'Messrs.- tA-.x-H..- Atkinson'- and; Co., ltd.;': rep6rt:a'stro'ng;.;inquiry:i'fbr' pigs; ; and' buyers prVsentVvfrohi "considerable.: distances. .Only Va aiid'no' young'sorts,; and tia% tuifrfand Mas'/ coiijfegueritly; ;'• .unsatisfied. Po"ultry*jWas' penned quantity,' jndS'solfiwelir^purebrc'd:-birds making, fionv !s. , ?t6'-'ss>'.4d. i 'j"each'.':Qubtations:- :: :Pigs: -Light stores. and porkers, ,115.,i135'.; ■ lGs.' 6d., lGs. '9d.; I7s^,od^"l9s.^2ls.:6dtif baconers;:;V2Bs.v3d. Horses:-iMafe-and foalj-"i£3; 'aged horses, 285., 255 - :,, 22s.".DpgsV. 25. : Roosters,- Is. M.;'lsi Ba.;.'lsV 9d.v'ls;lld.v-2s: 6d.;;35:'6d.,'45.,' is.- 3d., 'ss. 4(1.; hens, Us.; Is., Id., ls;',4d., Is 'sd. ; Jrakes,-,2s.;.geese, 2s.,.Hd..,Produce: Potatoes, fe.'-iper.sackicis;;, per-:901b. bag; pig potatoes, fe.;'3d;;";.4s",3dj;; onions, lid. 'por'lbi"; parsnips, Is. ,6d^;b'ag;': Is.'Gd.partsacks Idns; ,• 3s; .'to ..3s'.. : > 6d.4per~sacK; ; . factory ~ bacon, sides;-';73d.'"i>Br'rlb.;-Kams, Bd.'per"lb.'; ~:,:.

MINING NEWS.

»^)^ r (By,rarab'EU^ "0 -'v ■;!:' C- ■ ■.' ~V'; Diinedin; Juno 5. ■Additional '.Dredgingw - returns:—Waikaka United No. 1, 17oz; ldwt; N0.'2,:180z. Iddwt.; Bisirig Sun/31oz. 16dwt. . ■'■'. ''■■'.-■ "■•'.• -J ■1.-S-iSJ «i r Dunedin; June 8. ' -Dredging •.■ Eetur^ririJJise'and ■ Shine,' 13oz, sdwt:j'■'. Manuherikiac S2oz. j ' Worksop, 290z lßdwt.;:PactolpsNb" t, Mz;7dwt. Eureka, MB6z.; 6dwt.;'' Pactolus .No. 1; 15oz, 16dwt.j iCbacltori'^CreeE;. 10oz.', ■■: sdwt.: King, BoZi\lsdwt.-f ;01rig;?8qz. lldwt. ;.'•■ Thq Roxburgh Amalgamated Mining and Sluicing 'Company'* return;/orfiy6 ;^€eks:.j^l3Goz..7dwt.: ■ .■; ■■'■■'• f:':''-'■!'■■■! ! : :Reefton, Juno's. .-'■. Pactolus 'No. • I,' for 130 hours, 15oz. ICdwt'. i Pactolus;No.; 2, for 78 hours, 19oz. 7dwt.; Worksop, : f0r'...129,' hours,. 290z. 18dwt. : .. . . : /'- IB* «taoCMTIMf ,| y'A-- :; . '■'.'•.■:■ ''#;';■*£« '-lj*- Reeiton, 1 Juno 6.' -■The• New.TTlster ; Co. cyanide return from n crushing of 90 tpns ; is. 240z,-, 7dwt.; • value, ,±'Bo,