COMMERCIAL.

Dominion, Volume 2, Issue 537, 18 June 1909, Page 10

COMMERCIAL.

THE SHADE MABKET. sales of Bank ofNew Zealand at r- arid .89 95., and National Banks at l 7 9, » " vr/€re reported." The market exhibited a 'better tone,; ana there was more inqaixy. Bank of New Zealand, buyers «£9 2s. 64, sellers .£9 os.; National Bank, buyers «£5 6s. i6d., filers <£5 7s. 6d.; Rational Mortgage, sellers .£3; Jjew Zealand and Plate, buyors.il 14s. i VVellmgton> Investment, buyers lis. 6d.; Wol- : lington Trust Md Loan, buyers £7; Foilding , Uav buyers sellers ,£1 Is.; Wellington Gas, new issue, -buyers £1 10s. premium; South aritish Insurance, buyers £2 9s„ sellers.Jß2los.; Mandard Insurance, buyers £i 2s. 3d., sellers .£1 2s. 9d.; Chnstohuroh Meat, buyers J!10 10s.; tear.Meat, .£4 paid, buyers .£lO 45..-.£ l paid, bu ?? rs T? 2 Us 'l°d.; Meat Export, £2.12 5 ; 6d. v. paid, sellers is.; Westport Coal, buyers *C 6 >55., sellers «£6 Bs.; Westport-Stookton, ' sellers *" i i Timber, Be^era Jsg . ; ew>Zda . i • Cement, sellers £2. Is. 9d.; Tnra- . naki Petroleum, sellers 75.; Sharlaiid's ordinary . . *nd preference, buyers 195., , > s • i

THE MINING MARKET, rAt yesterday aftornoon's.sitting a sale'of New. Alpine, 9s. 3d. paid, at Bs. 3d., was made on and the-sales reported were: Tairua Broken Hills 2 s, 3d., 2s. 3.Jd., 2s. 5d., "WaiM Consolidated 4s. Id., 4s/3d.,..Tangiaro 4d., and Talisjnan jC« 13s. 3d., £2 13s. 6d. The.quotations, .with, last recorded sales, were as unaer:—;• 1

■■ LIVEEPOO\ AND LONDON AND GLOBE 'sINSURANCE. ' •• ' _■ The report. of the Liverpool and London and Wobo Insurance-Company for the year 1908 states that the fii6;.premium income, after deducting th©' sums paid for. reinsuring surplus risks, amounts t0.£2,603,864. , The net losses, inclusive of full provision 'for all claims that nad, arisen up to the .close of, the year, amount 10 ■ .£1,390,965. (53.76 ■ Ao 'acSh, f! teT^r dw ?. { ? r ex Penie!i, show, without interest, a surplus of •xf which ,£IO,OOO has been loft in the fire account,_ to increase -the ameuSt:. reserved for unexpired risks. The. balances .been carneu to profit , and loss account. The premium income for the year from the accident, department, after, deducting the sums paid for re-, insuring surplus risks,, amounts to X 92,235. Ihe net claims, inclusive of full provision for tnose that had arisen before the close of the year, ■ amount to (32.92: per cent.).-ri The account, after providing'for. expenses, shoWsV furplus of .£24,813,.0f which ,610,000.has been left in the accident account to increase ; the amount of the reserve fund.V The balance has. been carried to profit and loss account." The •profit and loss account,..with the .addition. of fire ' »nd accident profits, above referred to as bavin? Deen earned to it; and of the interest earned on the funds other than, those of tho life and acoident departments, after,,, Se'ducting the amounts the Globe Six P,er Cent Perfo/. 1908,.leaves a balance of ±1,065,858._ Out of this amount JIIOO,OOO has m?" , c , nrned , f ° general reserve fund, which will then "stand at .£1,500,000. It is proposed, ont of the remaining balance of £965,858 .■to pay on each .£2 of stock, a dividend of 335. account of the fire, department and 3s. out of'the .life ,pr6fits earned at- the : end of 'the last quinquennium carried for-- this purpose to this account, making in all 365. free of income tax, lea ringa _■ ba lance at' credit' of .■ J57H.782. On November 32 last,: an interim payment of 14s. was made on account and it is .'proposed to issue warrants for the balanoe—namely. 225,- ' «: Erectors • have -reJ!2 nf c f n ,l n °L e v b ? 2s " ™ each

■ CASTLE SALT COMPANY. . " • ' The accounts of the Castle ' Salt Cp-.aperativo, . Compimv, ,Limited, for the year endeillrMiylu, shows, a' net profit of £6126; .whichScßfiMxl?' . with a loss of for the previous -year; and j 1 P of for 1906-7* "' Adding balance S tX- d ' » ,thf total.a/ailable'is dmdend of Cd. per share, and , fprrter. dividend of Is. per. share/: together equivalent to• 74 per. cent, for, the year, ab- , sorbs £4938, and after,-writing off £1000 from v-, ; and £1000 from freeholds, theTalanc™ £3808,-is carried forward.. The company has ? Paid-up capital of £65,850: Adding marine I Mm I ' Ce ' : f c l and: loss balance -■'■■3*1% ?£ d v > nk > \wffldrrcreditors, etc.;' -.- *-15,503, the. balance-sheet total , is", £90,574. t . Assets inoldde l freeholds,, leaseholds, plant, g00d-£59,9-16, slocks '• r% : ' 'i®tker items"/ -The report'states V : :™ t ,™ !«« waps has been extremely: v and sufficient stocks of . suitable : grades of salt have been accumulated.. ./

EASTERN EXTENSION AUSTRALASIA CO. i„S V 6 J°ri- of tte'l^ra_Ext«Mi«D-'Austra- ' W rt™iT o] 9 a le 'f s T a ,? h Company, 'Limited, i? cM iialf year ended December 31 last states that the gross' receipts, asv, shown in the re- ■ - M^ 6 , 1 ® oc f ount ,', amounted -to .£306,899, against * » 'mi, corresponding half year of 1807. - lhe.-wOrkißg-expenses, including .£25,204 for ' ' cabki, absorb ,£151,507, ' B ? a in/w'^•? ®' foir ' "corresponding : perio'd' S f ■? 8 S 7 'Jft" n ! - C . 155 ' 382 - From this is deducted 151 for income tax payable in Eng. land, interest on mortgage debenture* 6tock , and other extraordinary expenditure, leaving -.-as-the- net: profit for the half year £137,229. ' A . r "dding ,£65,777 brought' forward - from' . ; | h » P reT 'o«s n half n year, the t e is. an available balance of .£203,006. One quarterly interimdividend of IJ-per cent; has been paid, for the half rear./and it ris ,now proposed to • distribate' another of like amount, making, with the interim dividends pai'd for the first half year, a total dividend of 5 per cent. Ifc« is also proposed to pay a bonus of is. per share, ... . or 2 per, cent.,, making a total distribution of 7 per cent, for the year 190 a. 'i'ha sum-of ■£50,000 has been transferred to the general reserve fnnd, and earned -forward.The general reserve'fund now amounts to J!1,034;345, and there are-:other .funds; totalling .£399,005, for maintenance; of ships,.marine and other in- ■... surances.

APRIL .IMPORTS . PROM BRITAIN.' The Mowing' is af list : of goods of British manufacture-exported to-New .Zealand during the month of April, 1909, showing the figures lor the same month in 1907 and 1908, as compiled from the Board of: Trade returns:— .

NOTES. . - . The sales-by tho International Harvester Company, of tho United States,: last ' year amounted to 414,798,521, out of which the net profits were ..62,637,797:; It is understood that the International- Harvester Company dontrols two-thirds of the grain ' and jrass ' harveatine machinery output of the world. Tho largest customers are .Canada, Kiissia, Argentina, and Australia, while large sales aro also made to Holland, Belgium, Prance,' Germany, Austria. Siberia, and Brazil.

The American' Consul at Kobe -ropoTta that, whereas ten years ago gas and oil engines wero not used in Japan, at the present time they represent nearly 15 per cent, of the power pro-' ducers used by manufactures.- In 1897' the number of power-driven factories in Japan was 2919. In 1906 number was 4656, and 306; gas and 429 oil engines wero being employed. ■ . ' The popularising of- a security counts .-for. something in the world of finance.-' French Government .rentes have been placed in tho" hands of 'the people to a most remarkable extent,, there boing no fewer, than nocounts. in the books. of the, Government, the.

average lidding being' ,£l9l, In British Consols : W'SiK?- on fe l^'?^hoWin g s « nn( l lie average -iB~-JM6M.v -The"«intere«t' on Consols is paid at ttie Bank of England,, but that on Frenob rentes is payable,."ill «over the country at any uovernment office, and the security, is the favourite of tho small people, and iB steadier in market .value, in consequence.

There is reported to bo on opening in Siam for agricultural machinery for tho rice fields. A 10 h.p. motor. traction engine, weighing three tons, has proved of great advantage, and a thrashing ( machine has also lately been successfully introduced. 'It is stated that the introduction of, suchmßchinory will make possible the cultivation of a great amount of land now 'lying' Waste:"" 1 . ■'■'Tli®!. demand in Canada for farm property among tho colonisation and other farmland offices exceeds that of any year since 1805, big Bales having recently been closed to many American buyers, the largest being a tract of 70;000.:acres located thirty-fivo miles from the Cit^-.of -Winnipeg, sold to W. P. Davidson, of St.' Paul, Minn.,'for a consideration of about 700,Q00d01. " :• • •,

" ( Durin'g the late' American orisis, a crowd of companies resorted to 'issue of short-term notes, as they ; are called, paya'ble in one or two years. It is stated that about ,£56,000,000 of theso matured in 1908; that a slightly larger amount mature this .year, and that .£100,000,000 mature next year (say, ,£214,000,000 in all), and these involve extensive financial operations, and the placing of large amounts of new securities without having any additional-new works to show for them. At'first, their redemption was a great trouble. Now it is being managed more smoothly.

; LIVE STOCK SALES. • Messrs. Dalgety and Co., Ltd., report that at' their. Palmerston sale yesterday there was a venr good yarding of both sheep and cattle, all of which met with, good demand. Quotations: Empty ewes, to Bs. 3d.; forward ewes, to 10s.; mixed woolly lambs,' to 10s.; fat ewes, to lis. 6d.; small wethers, to 10s, 7d.; fat and forward wethers, to lis. 6d.j s.m. ewes in lamb, to 125.; 2, 4, and G-tooth ewes in lamb (small), 135.; small 15-montKs : steers, 395.; 18-months to 2-year heifers, .£2 4s. to JS2 10s.; store cows, £2 14s. to £2 18s.; store cows,- £2 14s.' to £2 :18s.;,fat, cows, .£3 15s. to .£4 55.; 2-year steers, small, £2 175.; forward bullocks, to X 6. The stock report of the New Zealand Loan and Mercantile Agency Cd., Ltd., for their sale afc.Palmersto'n.• North".Yesterday,.is as follows:— There was a good competition for all classes of Btook, both sheep' and cattle selling freely. We quote:—S.m. breeding ewes, lis.; 2-tooth ewes, in lamb, 13s. 7d.; 2-tooth to f.m. ewes, lis. Cattle:,Weaners.-(inferior), 135.; medium, 19s. to 21s; low-condition 18-months heifers, 213. to 318.; backward lieifers in calf, £2 17s. 6d. to -£'3; store cows,, 31s. Gd. to 385.; forward cows, £3; forward heifers, £3; bulls, Messrs. Abraham and Williams, Ltd., Palmerston North, report as follows Yesterday a good'demand existed for all classes of stock, ana Competition throughout the sale was keen. Several lines "of sheep - advertised did not put in an appearance owing to the heavy rain, but | cattle' came forward in full numbers, and met with a ready sale, every lot, being; disposed of at satisfactory prices. ■ We quote:—Fat ewes, lis. lOd. to 12s. 6d.; s.m. ewes in lamb, lis. 7d.; good ewe lambs, 10s. Bd.; good wether lambs, 9s. 3d.; mixed lambs, 8s 6(1.; empty 2 and 4tooth ewes (small), 9s. 5d.; cull lambs,' 4s. 6d.; 3-year steers, £5; 18-month, steers, £2 10s. to .£2 lis.; yearling steers, 345.; 9-montV steers, 325. '6d.; fat cows,"i£3 175. : to £i; forward cows, £3 BiSii'to. ~£3-12a.-,6d.;,,empty forward heifers, JS3 '5"5.; 2-year. sp.eyed heifers,■ lis.; 18-month heifers in 'calf,''39s.T'63.; store cows, 255. to £2; springing cows,.i£6,.to,JE6 ss.

; / C.C. AND D. CO'. ■'■ ■ The'C.C.-and D.: Company cable:—"No'improvement iri,,the mutton lamb market. Second quality lamb has fallen one-eight of'a penny. ■ Beef values are. unchanged. To-day's quotations are Canter bury mutton, 31d.; Napier, Wellington, ..'and, Ntirth Island, 2jd. 'Lamb: first, quality, . 4}d. ;' and second, .3Jd. Beef: hinds,:i43d.:'fores, 2>d." : Customs revenue collected at 'ffellington yesterday amounted 'to j829i0.65. 6d.

SOUTH • CANTERBURY MAEKET REPORT. ■ Messrs.> r G, S. r Meredith and Co., 'Waimate, report on "the-South ! Canterbury grain and produce merchants for the week ending June 15 as follows Wheat: The ' market remains firm, and all lines offering at 45., on trucks •have been sold,- but. meantime buyers will not advance, nor sellers, who are confident of the market, give way. The volume of business ■passing during.,thehas been 'fairly, large.iGood'whole.fowl demand at 3s. lid. t.o.b.s.i. ' "Oats : T "TlicT 'market is easy. Values j are.:,' ,Is. ..5d.;, duns, Is. 4d.; Danish, |-Is. 3d.;.a1l on trucks country stations;,sacks, 5Jd. The oats in this district do not compare favourably with .those' in other districts in quality and colour. Chaff: The market for ohaff still remains 'exceedingly quiet. Owing to the very dark colour of the southern chaff, northern buyers prefer buying from Blenheim, whero we!:.understand .the quality is very much brighter. <•, .Any' lines of good . colour can be sold, at 575. 6d. f.0.b.5.i.; dark and discoloured line's,' at'sos; to's7s.' 6dl f.o.b.s.i. Potatoes: The market for potatoes is about the same as last week, largo,: quantities are being shipped, and extensive -business; is .being .done Any good quality potatoes are worth 80s.' to 82s. 6d. f.o.b.s.i. Seed .lines are worth 90s. to 955. f.o.b.s.i. 'Straw: Baled wheaten; 225. 6d.; baled oaten, 275. 6cl.| on trucks country stations.

HIDES MARKET. (By Telegraph.—Press ■ Associa'tlon.-Oopyrißht.) (Roc. Juno 17, 9.35. p.m;) . - Melbourne, June 17/ In the hides market there' was exoellent competition, '.and ' prices were firda for )dl classes. WHEAT MARKET. , ; (By Telegraph.—Press Association.—Copyright.) ■ (Rec. June 17, 9.55 p.m.) L'ondop, June 17. The American risible supply fof wheat is 25,327,000.bu5he15. , PRICES-OF METALS. • (By "Telegraph.—Press Association.—Copyright.) (Rec. Juno 17, 0.55 p.m.) London, June 17. Copper.—On. the spot,: £l\B 17s. 6d. j three months, -C 59 15s.

Tin.—On the spot,'- £133 155.; three months, £135 2s. 6d. . Lead, £13 2s. Gd.' ' / '. ■DUNEDIN STOCK EXCHANGE. .. . . Telegraph.—Press .Association.) t . ' ' - Dunedin, Juno 14.' Stock Exjhango quotations Dredging stock—. Alexandra Eureka, sellers 35.; Blackwater (contrib.), buyers 2s. 9d.; Blackwater (paid), buyers 35., sellers 55.; Electric, sellers 55.; Enterprise, buyers 35.,' sellers 55.; Hartley and Kiley, buyers £1 23. 6d., sellers £1 55.; Island Block, buyers 2s. 6d., sellers 3s. Gd. ; Koputai, sellers £1 18s.; Lady Roxburgh, sellers Gs.; No Town Creek, buyers'lls., sellers'l3s. Mining stocks— Roxburgh Amalgamated' (paid), sellers 7s. 8tl.; Roxburgh Amalgamated (contribj, sellers 7s. i3d.'; ;:New, Alpine," sellers 9s.'; Talisman Consolidated, -buyers 25.,' sellers £2 35.; Waihi, sellers, ,ss; ; ."\Vaihi?Extended, buyers 6s. 7}d., |Sellers"6s." , lod.;iWaihi'Grand Junction, buyers J!2:,45.*7jd.;" eellers-':i£2'ss. 3d.;, Waihii Grand ..Junction ..(options),, buyers 19s;' 6d.,: ; sellers"£l ■23. . ■ Investment- 6tocks—National . Insurance, sellers £1 Bs.;9d.; ; '\Vestport Coal Co., buyers £6 ,6s. 6d., sellers £6 95.; WestporteSto'ckton, sellers 7s. 9d;;.Dunedin Stock Exchange Proprietary, buyers, ;£2 25.; D.I.C. (prefer.), .sellers 95.; D.1.C., (pref.), sellers £1 25.; New Zealand Paper Mills,.sellers £1 2s. 6<J.. - KATIRI GUM. > .f. ' (By. .Telegraph.—Special Correspondent.) - <• Auckland, June 16. v.The.export•.of'kauri.gum-.for lastsmonth to•tailed 746.t0n5,-valued''at £15,178, which was nn inorease'.of 358.;t0ns and of £23,CG8 in value as compared'with.the corresponding month of last year. Gum dealers are inclined to take a nioro hopeful view of the market conditions at present, and most of the export was to fill orders. In fact, there is a steadier influence at work in the trade than for a considerable time past. Merchants state that there is a very large quantity of mixed black gum offering, which if sorted, into saleable grades would bo readily bought up,:;but in .its. present condition buyers will*-not'take the risk of .-purchasing and .sorting;.,lt.-.,Tho stock, ; hold at London docks at , the*;erid of.'April was only 354 'tons, the smallest'holding recorded' since 1887. For the five niS'nths-of the present year the production totalled 1135 tons in excess'of the production for'the,same period of last year and the export for! s th§;same.period this, year exceoded' that of >the« corresponding period of last year by lSi4"t6h's,'. 60 J that .the industry - far: from languishing, is in a'vigorous atato- ' |

Buyers. Sellers. 'Sales. .Waihi Grand June- 3 ' dl £ " d> £ "■ d ' Jtion'.... .... ... 2 5 0 2 6 8 - ' ■JViulu ... :... ... o 1 o 9 19 — Wailii Extended ... 0 6 8 — ■ — • I ,Waiotahi • ... ... o 3 4 — ' I Waihi Consolidated 0 4 1 0 4 3 0 4' 3 Watchman ... ... 0 1 11 0 2 1 - Maonland .... ... 0 0 9 0 0 10 — Xarangahako ... O'O S}'0 1*0- _ Kuranui Caledonian 0 12 0 11 — N.Z. Crowd . . ... o 5 11 — _ May .Queen. ... ... 0 2 7 0 2 9 — Tairoa Broken Hills 0 2 51 0 2 7" 0 2 5 Talisman; , ... 2 13, 0 2 13 9 2 13 6 Now Alpine, 10s. paid .0 8 6 New Alpine, 9s. 3d. pd. 0 8 0 0 8 6 0 8 3

vi ' ■' . . '' . 1307. 1908. 1909. " -: : 'j' V ' : ' £ * Beer and ale ... ... • 2,155 3,126 ••• 2,008 -Spirits • ... v ... 10,385 13,612 1 18,300 Iron and steel, and' manufactures thereof, 99,303 94,392 •' 53189 Copper, wrought . or..; • • . manufactured ..... 2,9G6 • -2,385. '1244 Cutlery ' ..." 2,402 2,43-1 l|c85 Hardware . ,8,432 11,332 7,249 Cotton, piece goods of • ; all kinds ■■">• f '- ... 28,019 31,202 ' 19,568 .Woollen- and worsted " ; ... 13,892 ! 11,983 10,632 Haberdashery, and mil- • . . ■■■ T 1 !"" 7 -V , ' • •• 2 ' 542 2,585 1,248. . >Jut« manufactures ... 4,518 ' 2,015 1194 ; Linen, piece : goods of ' ■' ' all'kinds 4,722 " 3,496 *2,9.15 ■ Apparel ... - . • ... 13,235 10,761 ■ 9,393 ?°?ji an shpes"k ... ' 6,267 '! !'>' '8;86-J : r"" 6,000' baadlery and harness ' . 4,026;• • 2,296 <\ 913 ' and-..glass ,10,327. "8,043 3*823 Writing and . • i paper ... ... •. ... . 9,97(f -6,868 Cement ... ... ... 5,746 3,693 2 543 Stationary, other than 1 paper . ... ... ... 4,035 3,472 2,584 j