COMMERCIAL ITEMS,

Dominion, Volume 3, Issue 632, 8 October 1909, Page 10

COMMERCIAL ITEMS,

INVESTMENT SHAKES. Sales of South British Insurance at £2 15s. 6d., Taupiri Coal at 19s. 10! d., and Taranaki Petroleum at Bs. were recorded yesterday. Wellington Investment, buyers lis., sellers lls;'6d.; Wellington Trust and Loan, sellers £7 2s. 6d.; Wellington Deposit, scilerß Bs. 6d.; Feilding Gas, buyers 215. : ; Palmerston North Gaß, ecilers £7 15s.;.Cliristchurch Meat, £2-paid, buyers £1 17s. 6d„ sellers. £2; Wellington Woollen, buyers £3; Westport-Stockton, sellers, 6s. 9d.-; New Zealand Consolidated Dental sellers £1 4s.' 6d.;-Shar-lan.d's, ordinary, sellers 20s. 9d. preference, buyers 20s. 6d.; Taranaki Petroleum, buyers Js. 6d„ sellers Bs. 3d. .- ~ AUSTRALIAN ALLIANCE. The directors -of the Australian''Alliance Assurance Company have decided, to postpone" tho issue of the .balance-sheet for, tho year'ended August 31 last until tho-revaluation of 'assets now in progress is completed. The latter operation was necessary under the arrangement made with the London and Lancashire Fire Insuranpo Company, and as 6oon. as the figures havo been ascertained the accounts -will -bo made up and presented to tho shareholders..- ■■■.'■ GEEMAN . CHEMICAL INDUSTRY. Am?ng tho industries .which were less affected by tno economic'. depression was'.the German chemical trade, which is also one of tho few to feel tho effects of the very slight'revival which has recently, been experienced 'in. some quarters.. The,latter point.'.is clearly-illustrated bythe figures in rotation ,to tho foreign trade of Germany in the first; half of the present year. During this period 'the exports of- chemicals amounted .to 13,237' tons,- of the- value of £14,293,350,- as compared -with 11,707 itonß' and> £12,711,400 in tho .first,half of 1908.:. Thus the quantity increased by 13; per cent.,-vand the value by 12.4 per cent., the slight' reduction in the latter being due to' the-fact that prices havo only increased in.afew coses'inVchemical products. This- is attributed to a variety of causes. In the first place, the .chemical works owing to the pressure of the unfavourable busi--noss situation, in recent, years,'havo more and more extended'their; manufacturing to tho out-' put-,of .by-products-which could yield a profit. The tendency >is, to offer by-products, tho profits on which are said to be often the only thing which mako'.tho sale of. the-main' articles, worth while, .at cheap prices.--. Tho raw and semi-finished materials havo also become cheaper, • and this'.explains why tho.'manufacturins works 'are,.'able- to carry on •business at a good profit, notwithstanding the; low pricesobtained for their-.'manufactures.- • ,

./''. BRITISH FOHEIGN BANKING■.' •* prosperity of the baniis working 'in ,tlio. Far East continues virtually unchecked, and the. rise in the shares of the'two leading British institutions-in. Eastern' Asia is. substantial, the Hong Kong and.-Shanghai gaining 15pointsand the Gartered of India four. Thoso ■ banks which carry on business in' South America havo also shown.good,results,,and the advance in the prices of Uhes securities bf- the-Argentine and Brazilian! iifttilu'tions ranges: f rbm ; 4 ■to - 6 points. In.tho'caso of th'c'Aiglo-Sbuth lAraerican, the more fact that the quotation ■is higher than a year ago is in itself : a source of satisfaction for its interests in Chile must havo suffered from tho- poor, conditions' prevailing thereof late. Turning to the banks located in tho Near East, the fact that tho shares of-tho Imperial Ottoman Bank and of the Imperial' of Persia exhibit a ■"moderate.'advance must bo taken as being to -a,.largo''eitent indicative of opinion regarding future prospects in those two countries. -In,both recent.events have not been of a nature ;< conducive vto - banking progress ' hut if, as expected in many quarters, the Turkish, and Persian rcvolutioDs ultimately lead to, a marked; development in commercial mattors,'these two banks should naturally benefit therefrom. Competition in many of the coun. tries covered by these banks must havo increased from one cause or another. during re. ,cent ) years, a circum'stanco'which renders' such results all, the-mo-e creditable to, British bank-, ing interests.- -:•..'., - , > • • ■>■ .-"■ ■:

■ REUTER'S'TELEGRAM COMPANY. •.•The directors of Router's Telegram Company, Limited! have, declared the usual interim dividend for the half year ending Juno 30,-1909, at' too-rate of 5 per cent., per annum. ,-' - Customs'revenue collected at Wellington yes- ! terday amounted . to. £4623 7s. sd. - :V, 'THE METAL -MARKETS. ; ' '~ ■; ' .';■ (By Telegraph-Press Association-Copyright;).' '.•„"■■■' '":' n ''.-':, ■ ;''■■' '" ■"-'London, October 6. •Copper .-Op- the.spot. £53 6s. 3d. per/ ton; thres months, £S9 &,,6d.' ■■■■. "":•!' 2s Ti 6d~ SPOt ' £I<oper ton; thre ° months. £141, Lead, £13 ss. per ton.' •'■ '. , Silyer.-Bar sil.vor,is .quoted at 23-13-16 d; per punco standard. . .- . ■ ,•..••■ ; v ; ' ;':'■ : (Eeo. October 7,'9.40 p.m.V .';:'■.• • ; _ "■' ■'■'■ ■"„ ■~ '•"'•■ .'London, October 7. '• Copper .-On the 6Pot,. £57 17s. 6d.: three months, £58 16s. 9d..per ton. •'' ; - '• |.-Tin.-On the .spot, £139- 65.; three months, £140 75.. 6d.. per ton. •/ " - ,' . '.' . ■.''■ '' "' TAI-LOW SALES. ■ ' i. \u . '«■"' ', ;.' "London, October 6. . tc, the tallow.sales 849 casks were offered and 654 sold, at par to an occasional 3d. per cwt. advance. . ' >. ■■ -:• — AMERICAN WHEAT. .:•_.-. •;_'.,'■ . ■■'■-' , ,'.;■ London, October 6...'. • The American visible supp y of wheat isl 39,032,000 bushels.. :. •■• .... ■ , ... . ■ ■ : '™ DIVIDEND OF FIVE PER CENT. : , _ : '.',' London, October 6. The British Australasian Trust and i Loan • Company has declared a dividend of 5 per cent. ■ ■■;■ , ~ " s . ' ' ■-''•' AUSTRALIAN PRODUCE MARKETS.' " . (Rec. October 7, 10.45 p.m.) wv ■.■'.' „ . Sydney,, October 7; ■ Wheat, 4s. Bd. to 45.. 9Jd. Flour, £11. Oats,Algerian Is. lid. to 2s. Id., Tasmanian 2s. dd. to 2s. 6d. Barley, Capo 3s. to 3s. 3d. Maize, 3s. 3d. to 3s. lid. Bran, £4 15s. Pollard, £5. Potatoes, nominal. Onions, Victorian £5 to £7. Butter. 104s. Ohcese, sjd. to .6d. Bacon, 7id. to Melbourne, October 7. : Wheat 4s. HJd. Flour, £10 155.; oats, Algerian milling Is. 10d., feeding to Is. 6d. Barley, Enclish malting'3s. 9d., Cape 2s. 8d„ feeding 2s. 3d. Maize, 3s. 41d. Bran. 10Jd. Pollard, Is. Onions, £6 10s. 7d. Potatoes, £3 to £3 lCs. i ■ ' Adelaide, October 7. .Wheat, 4s. 61d. Flour, £10. Bran, lid. Pol--lard, Is. ._. ■ . , HIDES MARKET, .. .... (Rec. October 7, 10.45 p.m.) .'.. ". Melbourne, .October 7. At. the hides sales, supplies were moderate, and there was a keen .demand. Prices were a little, firmer.' 0.0. AND D. COMPANY. , , '■.•■■.. (By Toleeranh. T Prba« Asßnr.lnllon.l ■ mt „„'' „ Nanlor, October 7. "■ TheO.O. and D. Company cablo that the prices of frozen; meat aro unchanged. : •'■-.;. MINING NEWS. :■'■.■'■ ' _; {. . :;. WELLINGTON MINING MARKET. . 'A fair number of sales wcro made yesterday! Talismans exhibited a further advance, sales being made up to £2 13s. 3d. Junctions wero quiet. The day's sales wore as under.— •■ Dominion, 6Jd. (first call). . .•May Guccn, 4s. Hid. (first call), 4s. IOJd. (second call). , Maoriland, Is. id. (third call). •New Bylvla, ss. Ltd. (first call), ss. Bd. (third call): ....•-•-■■ ,' Saxon, Is. 6d. (third call). . ■• - Talisman. £2 13s. 3d., £2 13s. 3d. (second call) Wnihl, £9 15s. .(second call), £9 15s. (third call). , Waihi Grand Junction, £2 10s. 6d. -(second .Watchman, 2s, lOd. (first call), . Progreis, «i, (third call). . .

QUOTATIONS.' .TJio latest quotations, with the last recorded sales, were as under:— " '■ < ■ I -'.', , , Buyers. , Sellers. Sales. _■.''• £s. d. £b. d. £B. d. Dixon Consolidated — 0.0 11 — . Dominion 0 0 51 0 0 8 0 0 6i Komata Eeefs 0 0,7 -0 0 8 .'- Kuranui 010 0 11 - Knranui Caledonian ... 0 16 0 18 — . May •-.Queen, ■ 0 410 0.5 0 0 4 10} i Maoriland 0 11 0 12 0 11 Mountain King (paid) 0 12 - - I New Sylvia : 0 58 0 5 9 0 5 8 i Old Hauraki 1 2'S — — Pride of Tokatea ...-...•■0-0 11 0 11 — fndc of Waihi -0 10 — Reliance 0 0 3J 0 0 4J ' ' — Royal Oak ..,....,; 0 2 9 0 211 — Saxon G U 1 0 17 0 16 Tairua Broken Hills ... -GJ 024 — Tairua Golden Hills ... 0 6 8 0 70 - - .Talisman- ...' 215 0 21J s'• 215 S Waihi ; 915 0 9160 ". 9 150' Waihi Consolidated .... 05 5 05 7 .- — Waihi Extended — 0 5 3 —' • Waihi Grand Junction 210 0 218 6 210 i' Waiolahi' :.....: — 0 5 5 — Waitangi ■.....:. 0-3 7/039 - ' Watchman 08 9 0 2 10, -o'2 10 Blnckwatcr , — , • l 7 i —.. Con. Goldflclds ..:... — 12 0. — New Alpine (paid) ...... 03 9 .-" - Now. Alpine (con.) 0.33 — — Progress - ■ 013 3 013 0 Boss Goldflelds — 012 3 — _The Wellington Stock Exchange has received the following telegram from the New Big River Company :-"Scventeenth dividend shilling declared Tuesday night, payable eighth."

/ STOCK EXCHANGE. ' (By TcloEraoh-PrcM Association.) Auckland, October 7. ■Business at the first call of the Stock Exchange included: -■ ■ j : Sylvia, ss. 9d. .'May Queen, ss. Id." Saxon. Is. 6d." Waiotahi. 55.-. 6d. • . ■ Watchman, 2a. lOd. Pride of Tokatea, 15.,-Is. Id. Royal Oak (paid), 3s. 3d. to 3s. sd.'' Royal Oak (con.), 3s. Id., 3s. 2d. ■ Tairua Broken" Hills ,2s. 4d. \ Grand Junction, 61s. - Taupiri Ooalj 20s. Kauri Timber, 16s. . . •. '.The following business was done at the after noon call:— . Magnet (con.), SidMagnet (paid). -6Jd. New Monowai; Is. lid., 23. • ■ . • New Sylvia, ss. 9d. Waiotahi, ss. sd. '■ • • i Consolidated Goldflelds. 21s. Pride of Tokatea, lljd., Is. id., li. i Eoyal Oak (con.), 35.-. Royal Oak (paid), 33..2 d." Tangiaro. sd. ' . . " ' .' New Zealand Crown, 65.. Bd., 6s. 6d.' Glamorgan, 6Jd„ 7d.-. ' '. . Talisman Consolidated,- 535. 3d. Waihi, 1975. ' • Waihi Consolidated, Ss.'7d.,'Ss. 6d. ' Tairua Broken Hills, 2s. 4d.- ;• Waihi Grand Junctions, 50s. 9d. Mountain Queen, ss. > .*' ; ;' Tairua Golden Hillß, ' 6s.' lOd. . fe. " Mountain King (con.),,'ls. ' V Point Russell, 9d., ■ May Queen, 6s. Ud. ' . • ," . ■ Taupiri Coal, 19s. 9d.,'195. 3d. - "'' j , Dunedin, October 7. Stock Exchange sales:— Waiotahi, ss. tfd., ss. 6d., ss. 7d. Rales, reported:— . .-,, ■:■'■' .Waihi Grand Junction, 50s. 6d. : . Golden Bed, 10s.-(four parcels)., Otago, 16s. 6d. : ... . '• '" ; t -TALISMAN., r ■ ■ ;' ; The Talisman report for September is bb follows:—Crushed 3865 tons for bullion valued at £18,292 13s. 2d. Tho total cOs.f was 395. sd. a ton,, made up as follows:—Development, 9s.' lOd.j mining. 14s. 4d.; milling, 13s. 2d.; general, 2s. Id. TOKATEA .MINES. '' " •'. '•(Dj TelecraDh.rfpcclal CorrcsDondent.l ; .Auckland, October 7.. The faith of the old-time miners In the Tokatea range at Coroinandel seems to be receiving soma justification. The Tokatoa. group ofclaims has always been regarded'with.a,good deal of interest by those who Btudy gold-getting-;as apart from- operations in shares, and both the Tokatea and Pride of Tokatea: mines aregetting out picked stone. The Tokatea' dropped on a. few pounds of picked stone on Tuesday, and yesterday the Tride of Tokatea secured 50 pounds of picked stone and • another 49 pounds-to-day. In tho Royal-Oak, adjoining tho-latter,-101b. has been secured. ~ .''

"WONDERFUIM' EICH STONE." lUjTciccraph.-i'ro«» Ansnclation.l ■■•'■'. ■ '~•■ Dunedln, October 7. Tho Waipori correspondent' ■of the "Evening Star" states that wonderfully rich'stone has', boon opened up in the Canton reef, adjoining .the 0.1'.Q. mine at Waipori. Threo pounds weight of Btono iB estimated to yield from £30 to £40 worth of gold. Tho reef .was 'prospected some years ago, and abandoned.. .The present prospecting has been; going on for about three months. The reef is being developed by a syndicate composed of Waipori and Dunedin, residents. Several years ago' tho.' reey waS3 Opined in by a party of. were unable to copo with the water, add'had to''abandon it. Work in a spasmodic kind of way has been carried on now and again by attempts to develop tho reef, but all ended in failure. A few months ago, however, Mr. Lewis Poarsall .induced a few others to join him to And funds to'give 'the reef 1 a more systematic trial. THo first shaft was'sunk to'a, depth of 60 feet, and thon abandoned, and the syndicate who now hold tho lease'sank another 25 feet, and drove from that level. The, reef, which has! been cut, runs from one foot to ono foot sis inches ir. width, and some of the stone is.practically a mass of pure . gold. One piece, Jioz. id weight, yielded 12oz. of gold, and in another a 602. piece gave 3ai. of gold. There is'every indication of the reef being permanent and very rich.-' '-■'..' '■!•;

MINING; NOTES. '',-'. 1 Dixon Consolidated.—Driving on the reef cut in No. 2 level in Dixon's Consolidated mine is being continued towards-tho boundary of tho watchman mine. >The drive is being carried along tho footwallof the reef.' Baring the past week the prospects.met with were'encouraging. Portions of the footwall .'sido of the reef aro carrying -good . mineral indications, and shc|w better values. Tho reef formation passed through in tho low level is also being driven on, and this is likewise improving.in appear, ance as tho drive advances.

-Maoriland.-Tbe directors of the" Maoriland Gold Mining Company have'.iongaged Mr. Baskot as battery manager, and crusbiiig will be proceeded with shortly/ The mine manager reports having completed the rise from the crosscut east on the Young New Zealand reef ,and hav. ing commenced the extension of the drive north and south on tho reef. Ho says that gold has been seen m.the pre broken every.shift in both taccs. and that gold was seen in the broken stone in the north face on Thursday; The hoppers at tho battery arc full of quartz.

, May Quecn.-The May Queen Oold Mining Companya crosscut, Irom the IdOO feet level of the Queen of Beauty shaft is now-in 202 feet- from' the chamber, and. about 20 feet past .where tho clay and. flinty formation• was passed. throughJhere is no'Bign-of the reef in tho face, and tho country is ; not showing much water, so that the reef may yet be some little distance ahead the country now being passed through is of a similar character to that existing in the footwall of tho reef at NO. 9 level. The main, reef in the slopes oyer the south drivo continues to look well, and is producing a steady supply of payable ore, as;arc the various stopes in tho May Queen, section-at tho No. 9 level and the higher ...levels The battery, is hcadily engaged crushing on tho ore coming to hand from those

i^f 1 »°. ?i f - Tokatca.—Tho drive on tho footwall lode at tho low level is in.4o.foot. Favourable country i 9 being passed through, and the ?od o looks well.; Tho drive on the footwall lode, at tho intermediate level, ib being pushed ahead through a firm mineralised country. At tho low; level the stopes on tho. cross-lode are pro. ducing ore of good quality, 101b. of picked stono naving come to-hand, as already reported. ~,T a naTe Dc e n continued in the bottom level drive north on the now reef ™« iiJ 8 n T in 2 ' 6 feet, from the old drive, the reef continues gold bearing, and is about 3 feet wide in tho face, and looks very encouraging- The bottom level drive.north on the „f Sw r Bl ? 0 5 0 "of is. now iu a total distance w 4W reet from the crosscut. The reef in the lace has opened out to about 8 inches in thicknoss, showing the right olass of bright minerals ana giving fair prospects of gold when tested. KeyarOak.-The leader has been Very small lately at No. 6 level, east, but now shows signs 01 making again, and what stone there, is looks kindly for gold. In the drive from the bottom of the winze the lode, is fully Sin. in wV S f . fa,rl / Eood-looking stone. Tho total, length driven from the-winie'is 9 feet. Dunne the past week the eastern end of the winxo haß been squared up, and when brcatini down the quartz several pieces with fair dabs of gold were got. The leader is now about 4in„ but will probably make again. 1 ,

Kapanga.-YTork has been stopped for the presont in the shaft, and the men nut on to push forward surface work. Thames.—The .reof maintains its size,! and carries very nice minerals. The country is of a very favourable description. ' Saxon.—During the past week four different parties of men have been looking through the mine, with a view to taking a tribute, but, so far, all havo withdrawn. ■: Itellancc—Tho country is nor rauch as it was previously, the easier' nature reported last, week not .having proved permanent. Old Alburnia—The drive has been extended a total distance of 140 feet on the hangjngwall of the Sons of Freedom reef, connecting the crosscuts previously driven through tho reef. A' riso has been put up over the first crosscut, and a leading stope is'cow being taken along eastward over tho level. This rise has proved the stringers in tho hanglngwall to be a'rfr-, per, or a separate ore body, and will junction with tho main reef a little below tho floor of the tunnel. The Sons of lias a din or underlie of one In one, and the t>» per Is almost vertical. : There are five feet of country separating the two ore bodies In tho back of the rise. A little gold is still seen in tho quartz broken out. ' Mount Welcome—The low level Is'in ICO feet. The country is blocky, and in places hltrhlv mineralised.. .Tho stope. on. tho.Pukatutu Is In Rood country* The lode Is In two portions, the hanglngwall- looking the most favourable.