COMMERCIAL ITEMS.

Dominion, Volume 3, Issue 688, 13 December 1909, Page 10

COMMERCIAL ITEMS.

.■'.•,•■■;.--•'•■■ INVESTMENT SHAKES;' ■'. V -.■.'■. Thoro .woro no transactions on Saturday, ■ and - qaotationg were unchanged. National Bank, . sellers £6 la.; National Mortgage buyers, £2 183. 6d., .sellers £S; ■ .Wellington Investment, buyers'lie'.,'" sellers lls.-.Gd,;. Wellington Trust and Loan,-buyers-£7 2a. 6d.j Christchurch due, buyers £9 12e. 6d., sellers £10 j Foilding Gas, buyors £1 ls.j Napier Oas, sellers £11 7b.-6d.;'Wellington Gas, £10 paid,:iiollors £18 55.; £6 15s. paid, sellers £14 55.; New-Zealand Insuraiicc, buyers £3 15a., sellers £3 17ft.; Chriatchurch Mcat.'bnyors £10 IBs.; Moat Export, third issue, buyers £2 10s.; Wellington Woollen,' sellers ".£3 4s. 9d.; Higurangi Coal, buyers 19s. 6d., sollors 215.; Taupiri' Coal, • sellers 19s. 6d.; ; WcstportHtockton,' buyers 63. 9d., sellers 75.'3d.; LeylandO'Brien Timber, buyers £1 35.; Manning and Co., buyers '£3 155.; Sharland'o ordinary; sellers 20s. 6<3.; preference, buyers 20s; Sd.V sellers' 21s. '6d.; Ward and Co., sellers £4 165.; Wellington Opera House, sellers £7 17s. 6dJ .. ... ,'. . ' .;■ THE MONEY' MAEKET. Tho Bank of England rate liaa been reduced from's to 4J per cent., and the downward inovement in monotary rates has commenced. It is not.likely that the ,4J per cent.-rato , . will bo maintained Tor more than a week or so, and early in the Now Year tho bank rate should be down to 2i per cent., and be maintained at that low level for some time. During the next quarter the bank will havo command of Treasury funds, and will thus bo in a position to dominate the market. Easy monotary conditions will bo of ,upeciaj interest to Australasia, because of tho need for extensive borrowing on tho part'o s the various Governments for ono purpose and another. - ~ \ ..-....- . . . Locally the monetary conditions aio satisfactory. The banks are carrying a very much larger amotint of coin than in previous years, and are actually seeking for investments. The metal holding will also enable tho banks to defeat to some extent the increase in tho note-issue tax. Many of the.large employers aro now paying wages in gold rather than in notes, consequently there is a curtailment of tho notes in circulation. This will he revealed in the next banking returns, if,, as wo suppose, tho. movement is taking , place. With cheap money New Zoaland should enjoy another period of prosperity. . '. •;- '..-.. .■.:.' ' - : - : . THE WOELD'S WHEAT.. ■; Mr. George Broomlmll, F. 8.5., Liverpool, who is regarded aa tho leading statistical authority on the grain trade, has issued his forecast of the surpluses and requirements of the exporting and Importing countries which take part in the international grain trade. Summing up his conclusions, the exportable surplus from tho principal countries during tho British, cereal year, August 1 to July 31, is estimated (with comparisons of actual exports for the previous year) as" follows:— . ■■"■■■■■ ■■•... " : ■ . ■ Estimated Actual i ' . .;' .-• 1909-10 .1908-9 :.■.:■■. ■ ..'".'■'■'■ Quarters. Quarters. U.s.a. .....: ...: :■...:..: 16.000,000 13,900,000 Canada- :.. 8,0C0,C00 7,100,000 Eussia ..'..._. ;. 20,000,080 ■ 12.400,000 Balkans' 6,000,000 ■ 4,900,000 India ;...'. 4,000,000 . 3,470,000 Argentine and Uruguay .... 12,000,000 •'. 13.710.0CQ Australia' ;.....?. 4.500.0C0 -1.747.CC0 Chile, North Africa, etc. ... I.gQO.COO. ; 805.CCC V; , : ' ' . .' . '71,700,000. .ff1.032.CH1 These figures show an increase of nearly 10.7C0.000 quarters, or 85,600,000 bushels, but tho estimate "depends entirely upon weather conditions. The Australasian harvest has yet to be gathered, but af tho favourable indications are maintained the exportable surplus ought to be larger than that given above. Now Zoaland should have a big sur,plus, because a larger area has .been Bown to wheat. The increased production may, bo expected to bring about a fallinvalues, andit ie apotnt the wheat-growers in New Zealand .should bear in mind. ; . - . ■■■. ~,. ■-~ . - / : : k ... "BEA2ING".'cEOSSBItED .WOOL; '.;. ■Messrs: Willans and Overbury, London, in a circular letter to their Now Zealand corresponidonts, under . date - October 29, furnish the following interesting information:—Since the close ;of the. lato Soptomber series, certain developments havo occurred in the wool market on this side, concerning which you. may bo interested to 'received somo comment. In.the first place;'very ishortly after the close of > tho. September auctions, a general attempt was made, both ■ on the Continent and this country, to depreso. values. Tho occasion was in every way an opportnne one, 'and'the effort at first 'mot with< a fair-amount of success. Within'.; the last week, however, it has become evident that tho general conditions of trade aro too sound to perinit of the. movement being thoroughly maintained,- ; and while merinos have shown no actual advance-coarse cro3Sbreds have remained' practically .unaffected by the "boar", tactics referred to., a. clear .indlqation. of tbo rca3onab!d level at", which ,, these wools stand. Bradford topmakers- aro refusine to speculate in coarse wools.by.selling forward at lower rates than present l ouotalions, dn'd'this may be taken asay.BUro sign that , the. trado: rtc not , anticipate: being able .to buy,, later, qn',aj cheaper rates. The'recovery in'top quotations, and the caution of, buyers ■ above Tcforred -.to, when'considered in conjunction with the-'present increasing disposition towards goods -mado *f rdn (the coarser crossbreds—a. movement which.'we navo bvery reason to believe -will bo progressive during tho coming year—confirms us in our pro ,viousiy expressed ' ; belief .that .thcro , ij -otill 'plenty of room for an , advanco' in tho' me'diuni ! and: coarse -grades of crossbred. ■ . ; —••■ ; We would add that.from communications received from New Zealand wo gather that there is an impression in , the Dominion\that;, sup plies of woo! durine . the'''c'om'in'ir!''Beas'>ri?'a'ri: going" to bo unusually heavy. .-.■We-hold vers .strongly, to the opinion that the. coming..clip from Australasia will. not exceed by moro that a few thousand bales tho export figures'of the past year, and.that s as far as; crossbred, woolii concerned. .what«ve!r. alight increase .may be seen from: New Zealand (and-this-is not ex pected to bo more than 13.0C0 bales) will bo: t good deal 'more :than discounted by tho. anti cipated decrcaso from South America. Customs- revenue collected.-"nl- 'Wellington or Raturday amounted to £2015 4s. 9d, The tota' for .'the week amounted to £12,305 Uβ./Sd.. in eluding surtax £300 45.,,8 d. : liccr, duty totallot .£2Ol Bs.v.■.'...••■■'■'..••.:,■" ■ ■ ' " .',/;•.■■'. - : "BANK OP ENGLAND RETDKN.: V (By. Telegraph.—Press Association.—Oopyrleht.V ~" •'■'■ .. ■■■.■ ■'' Lohdonj December"!). ■','• The Bank of England roturn issued ,-for •■'•.the week ended Wednesday, December 8, is a: under:— ' ; ; ...-;• ;. ■-■■;■. , "■:, - -' ■ ,'. ~' ' li6TntjD?.rAn'iirEST. ■-.' ■ :'.'■"-.' ' Koto Issue".... 'jE53.159.000 Gov; debt ... kii,OIE,C(M. . : '>. .... ■ ' .. Other.securi- : ■'•:-'■ : '.-. . . tm- .... Hum. • '.. .' . . Gold . ~., 34.7u),0U) ■,'•'. : .: ; - ■ .£53,159,000 ,; ' *53. O.COO . ' J. •;■, ifiAXZaiG DEPABTMIKT. ';,; ■■ . '. ' . Fropriotors ' VJGovt. sccnrl-:' ,, ■■''•■ ■!■•• Capital:. fH,553,000 .: ties ... fH,«3,000 . Public de- - Othor securi- '.-■ ■ '.■■■'pooit3 ... 7,185,000 ties ' ... • 25,006.003 "Othorde- -.' '.-..■ ; ■ :' : '■; •,:■ " l)O3its ... 40,646,000. Sotos . „ 54,786,000 ■ •: . Eest, 7-dety ■ ".;' "...■■•. :■: ■;. ' ■"'., : :,, . oaid other . '\.Coln-: ... 1.220.00J : \; Luis ,\-.,.;.:3,i5i,c00 ,:..'v:r .-■.■...■•.: ■■■• ... ■ 1-;,,- ■'■ i. ■'':•■' ■' i £e5,515,C00: ; 1:■?. , : V'..; , £65,515,0C0 . 'The leading items or the Bank of England return afford £h(!-lollowing< comparison :— . ': ' '■-■'■:Thiswoek. "liasliweeiXast yeai ■■:■■'■' ■ ■ :;-. ■'■• . - "' ■■£"- ■■■• £ : ■> . *..-■■ ■■■■■ Bnllion ,„ ... 34,710,000 ■ 35,350,000. '/^aiSaM Kecervo.... ' ... M.OOt-.lKei a.776.1)00' "i3,«6J,WX hOK circulation a),SS3.UOJ '2b.U05.0W) ■;: i.b,va7,00( I'ubUo "Deposits V.IOS.IiUJ '■ b.WM-U v ' 7.JSIMM Othor Deposits'. : 4U,64C,»JJ W.IiSS.IWJ ■': OIMjM '"'. 'l-isporboa' of-" ■ .'■'"(• :':'■■■'."■' ... reserve to' ' •.-■•■■ ........ :-, ■-:' uiuUiUes - . ; - SS.7I-: :-. 55.99.,;' «.6O -'. ''■ y. ■■'■ : GOVEENMENT SEOiniITIES., ■' ' ';.'. ■""'.The following , are 1 the''latest.' quotation! for Government • securities, with a ■ comparison or those ruling.last week:— , . ■ . ■"■ Variations '■ ■' '■ _ '■•■'■ . p,-i M : compared ■ .-.- - " -' -■■■■•-■-.. ' ■ j ■lasiweok. , ; : ..: ■: ••' ■' ' ' ' .•£. G.d. • ■ C- - 2 5% Imperial Consols.., ■ ... .(ill'l '-Ujichan'scc 4 „ N.8.W.1833J»n.-July ... 11X1 0 0 2s.Sd. highei ai ..N.iJ.W.lilliiilar-Sepi •■ ... : 09 o'o ,-■ 6«,hiahei 3 ~N.S.W.ig3SADt.-Oct. i. ... 86 0 U iTJnehangei 4 „ Vic.lE!!OJan.-July... ■ ... 101 00 Unehanaoc 34,,Vic.19!i1-«Jan.-July ■ ... u7 IU 0 I2s.6d.higfiei S),,Vic.llKM'JJan.tJuiy. .;. So 0 0 .-■ 6s.highei Bi,,ii.A.l9lsJan.-July ..:'09l0 ! 0 lOa.hignei i) ~B;A.'WltiJ«.n.-Juty ' „. 65 0 0 7s.bd. hishei 4 ,;QTdl9ls-21Jan.-July ... -02 10 0 Unchancee U i,t! , l'dHß4-30Jau.-Juiy ■*. i te 17 6' •■'UnehanKot a -, , <j'l'diaa-47Jan.-Juiy ... 84 .2 6 Unohangoc 4 .. h.V,., UitSiMay-NoT. - .., lUolO'O Unchange< Si-,,N.ii.ie4UJan.-Jnly ... 97)7 6 75.6 d. highe 3 ..N.Z.lMjApril-Oci. ... .0 00 :Unohanset 84',,\V.A,1020-«Ma;y-Nov ... 93 10 0 2D.6d.10w0 a ~W,A.1i)15-36Alay-«0V- ... Btl 0 0 Unchancei 34 „ T»s. 19«) Jan.-July ... 0810 0 Unchangee 3 ,'Jas.l9ilo-40Jtn.-July ■ ... b7 I' 2 B TJnchn.nee< >•'■ i.:• : THE MOSEY MAKKET. . - " : " ". . ' ..The Bank of England discount rate , is 4J pc; cont., to which it was reduced from 5 per cent on Decoinber 9. :' ' ■:•.■'■ ' Short, loans in London are J higher, at 33 po; cent. ■■' ' ~.;.■ ■ ■■ : ■■' •. .-■.•.'. .."'.■ 'The open market discount rato for best thrc months'; bills is', unchanged at 33,perccnt. COLONIAL AND OTHER PEODUOE. ' Wheat—The markets are ejuiet. Chicago Ma' is , quoted, at 107J to 1071'. . There is an casio tono, owing to the absence of general dcinani and free offerings of new Argentine-'. Holder of Australian aro steady, Adelaide and Victoria per steamcrß December-January, are offering a 39s.'per quarter; January-February, 38s. 6d.;AuE tralian sailor 3, Ueccmbcr-January, 385..,3 d.; Janu ary-February, 375. 9d.; February-Jiarch,37a. 3d. j etoamer parcel of Australian Deccmbor-Januar; r so|d at 3Bs. 4Jd. There is little inquiryfor spot is quiet at about 445. Patents. London, ,31s. .. . : ■ - Oats.—La Plata, January-February ', shipmenl 14s". 3d. . . ■■■'•• ... ,' , Butter.—Danish butter is steady, at 1255. to 127s per, cwt. Colonial is easier, owing, to.heavy eut ifliea:, There is a good demand, but'.barely sul ilclcnt to clear tho seventy-three'thousand boxe which arrived during tho week. Choicest Aut tralian salted,-106s. to ICOs.;- unsaltod. 103s. i> 110s.; New.Zealand, salted, 1129.;Arge)ntino, 106s to 108s.; secondary Australian and 'NewiZealand 100 a.: tO , 1013. . -.. , . - : .-.■• ' „„ ■: V •■' ■:'■■ ■uSugar- iß.quiet.:,.'.GennanibeQt,'>B.S.deg.-, : is quotei «*•'. 12s.' 6d,-per.. .owt.-Jd...-.lower..'..than- prevlon

luotation; First mark, granulated,' f.o.b. Hamjurg, 3d. lower, at 14s. sd. Bradford Tops.—Tho market is quiet and prices iro unchanged. , , • . . "''' THE METAIj JIAPJCETS. ' '' '■' ' Copper, on the spot, £59 7s. 6d. per ton: three months, £60 7e. 6d.-20s. higher; electrolytic, £61. Tin,-on the spot. £147 Ids., per ton-£3 2si 6d. higher; three- mouths, £148 - 155.-a' rise o{-' £3 Is. 6d. '■ . .-..'.•..... ■ . ■ ■ ■ Lead; £13 per ton—2s. 6d., higher. Pig-iron, 50s. 7d.; per ton. ■■ Silver is quoted at 24e. per ounce standard, - ■ '. ■' ■ '■'■ FEOZEN MEAT. '■'.'■ ;' f .... The Now Zealand Loan and-Mercantile Agency Company, Ltd., have received the following cablegram from their London houßo, under dato December 10:—"Frozen Itoat-Aitutton , market weaker, lamb market depressed, ■ beef, market continues drooping." ;' ■ .' HIDE AND SKIN. KEPOEt! ■ Messrs. Dalgety and Co., Ltd., l'almerston North, report on their wool, skin, and hide sale, held on Friday, a3 follows:—Wo offered a full catalogue of all classes to a good attendance of buyers. Competition was keen for all lots, and prices wore on a par with last sale. Wo quote:— Wool.—Crossbred, medium to fine, 9id. to 10id.; coarse crossbred, BJd. to 9d;; log-stained and in-' ferior, 7Jd. to Si.; dead wool, good, 7d. to 71d.; lambs', wool, to 73d.; bellies, sd. to Sid.; pieces, 4id. to 5Jd.; crutchings, inferior, 4Jd. to '4Jd.; locks, 3Jd, to 41d. ;. black wool, 5Jd. SheepekinsCoarse crossbred, 6Jd. to 7d.; medium crossbred. 71d. to 7?d.; fine crossbred, to 83d.; hoggets, 6Jd. to'CJd.; dead hoggets, 4Jd. to s|d.; dead skins, 53d. to 6d.; lambskins, 43d. to 6d.; pelts, 4Jd. to 43d.; inferior and damaged crossbred, lid. to Sid.; butchers , 'ekins, at per piece, salted-cross-bred, small, to 45. , Bd.; salted pelts, from Is. (id. to la/ lid.; crossbred, part dry, frqm.\6s. to ,6s. 3d.; lambskins, . Is. 6d. to 2s. Id. Hides—Medium ox, 7d. to 7id.;'light ox,- 6ld;'to 63d.; steers, 6d. to 65d. ; cowhides,'.best lines, ,63d/to 67, d.; good, 63d. to 6Jd.; farmers' lots, from od. to 6Jd-; year-, lings, to 75d.; cut, to 52d.;..0x and cows, cut, from. 5!d,. to, 63d.; slippy hides, 4d. to lid. Calfskins— Best : lines. 93d. to IOJd.; medium, -83d. to 91d.; meaty, to BJd.; cut, to 6Jd.; slippy, to 5d.; dry calf, at each, to Jld- Sundries-Tallow, in tins, 21b.: tallow, in casks, to 235. 6d.; rough fat, to 145.; horsehair, at per lb., to Is. 2id.; rabbitskins', to Bd.' per. lb. . '.-.'■ ' ' PALMEESTON MAEKET EEPOET. ;.llr. Harry Palmer reports a very big entry of pigs at hie salo' at Palmerston last week, porkersvespeeially .being plentiful. Pigs arc getting easier, although they still return profitablo prices.' The class, of pis which finds the most ready salo. are' good big slips, or small stores. There is not" a keen demand for big stuff, except at reduced prices. The low prico offered by bacon factories and the limited weights which butchers accept account for this. Poultry entries were abnormally heavy, but turkeys were scarce, as. also ..were good prime cockerels. AH other lines; however, were -plentiful. Geese,: turkeys, prime cockerels, and ducks still command good prices, but hens are'easier, the average nrico being about 35.-6 d. per pair. Quotations:—Pigs: Weanere, 7s. 6d., Bs., Bs. 9d., 9g., to 10s.;slipe and stores, IDs. 3d., lls., 125., 135.. to 14s.T small porkers, 175., 18s., to. 19a.; heavy weights, £1 35., £1 3s. 6d., to £1 45.: suckers, ss. to 7s. 6d.: York hoar, £1 65.; sown, £3 and £2 10s. Geese, 35., 3s. 3d., 3s. 6d.,-43.V-to 4s. 6d. each; turkey hens, 55., 65., : to 6s. 6d.; turkey gobblers,. 10s., Us., to 14s: 6d. each; ducks, :4a. to 65...6 d.; ducklings, small, Is. 3d. to 2a. • 6d.; half-grown do., 2a. 6d. to 45.;: cockerels, 4s. 6d. to 6s. 6d.; half-grown. 2s. 6d. to 3s. 6d.; hens, 33..t0 55.; chicks, Is. to 35.; hens, and broods, 3s. 6d. to 7s. 6d. The market is particularly bare', df,-vegetables, 'but new potatoes arc coming in-freely. Tho samples, however, are irregular; prices, 10a. to'lSs. i'por cwt.j rhubarb, 4s. to ss. per'dozen; gooseberries, ss. per case; tomatoes,-half-case3, ss. to 75.; all grain and meals at previous quotations. Tho report adds-.—We have also to report a clearing sale on account of Mrs. Adams, of Bunnythorps. All breeding, sows sold well.'tbo prices ranging from'£l-18s.-to £2 10s.; empty do.. £3 to £4; springing do., £4 to' £5 2a. 6d., with litter. Only two cows Iwere offered,. and these realised £6 2g. 6d. to £6 55.; horaos, £7 155., £8' 15s.' Wo also offered, recently the timber and iron at tho Longburn Freezing Works,' and effected a total clearance. ■' ■. ■ ;.',-:'.. ; ■'; ■ ; : , : FEILDDfG MAEKET. EEPOET. .•;'.'.. :Messrs.'A.il. Atkinson and Co:, Ltd., reporting on their last, sale at ,Fe.ilding, "6tata that there was; an average yarding of pigs,-with demand uot'so keen as of lato.'and an.easing.in values generally: Tho.rep'orttadds:—Wo-hadtifull pons of poultry,-and; some.iiice. turkeys,wero forward. Several good horses -wero offered, .but were difficult of salo .at, values'placed , on",them.. There is good inquiry' fof well-grown new potatoes. Quotations:—Pigs:-Woa'ncrs, smalh-t ss. 9d. to 7s. 9d.;'-good-sorts. 9s. 3d. to 10s.; slips, 105.:,1ie., 12a. 6d., 135.,.,155.. 9d., to'Hs.j stores. 155., 15s, 6d., to 175.; porkers, -21s:- 6d: to •■ 235.- Poultry • (at each)': Hens, Is. 2d., Is. 6d., Is, 7d... Is. Bd.. to Is. 9d.; roosters, Is. 9d., la.- lid., 25., 2s. Id.; chicks, ad to 10d; hens and chicks. 3s. 6d.: (joslinßS. 25.; Reese,-2s. 2d. to 2s. 6d.;. ducks, Is. Bd.. Is. 10d., to Zs.; turkeys,:9a., 9s. 3d.; IDs.. 6d., Us. 6d., to 12s. Produce: Pollard, 7s: / 9d.'; bran; 45.; wheat; 175.; maize, ss.;*oats.)-2a.-3d.; .potatoes, old; 3s. 6d. to 6a.; new, 6s. 6d.-'per ihalf-cw.t.: peas, 4s. 6d. per has; factory bacon; 7d.; bams, Bd. per lb. :■ ". -'' : \ NEWS: "■'■'■■ : ;- •_ ■'• WELLINGTON MINING MAEKET.'" ■'."".' Only one sitting of -*tho Exchango took place on Saturday, and tho' sales recorded were:Waihi'Grand Junction, 345. , 3d.,-and Koss Goldfields, 9s. Quotations wero-us under:H ~ ..- 1 : • Buyers. Sellers. '-■ '•-■. V ,'.' ' ■ £ s. d. £ s. d. Dixon Consolidated — . 0 0 7' Dominion •■ '■• ~...,...;..;..v.....V.. "—- 0. 0 21'' Kuranui Caledonian 0 10 0 1 3 Mountain-King ...,'..:.'...'..'.....' — ' 0 f 1 ''• New Sylvia; ~...,; :. 0 5' 0 ,0 5,6 \ ■ - Old Hauraki .'.......'.;■:....•. 0 • 3 •- 9 ■' ■ '■ - . , Saxon - ......;.:..;. '- 0.1 2 •'.■;■ "' Tairua Broken Hi 115;......... 0 10 .0.1 "2 /Talisman .„•;:..,.........• .2 3-3 / 2*4. 0 ■ Tangiaro ;..„';..'...;'.......... 0 0 1 — ..-,- ..Waibi .■...'..... :;'...'...'.; /. ■ - .9 15 6 :• ■ Waihi ,'Grand Junction .;..• 114 0 114 : 6 .-■' Waitansi .■;„.....■.■.'.'. .": .0 2 5 ,0.2.-7 :■ .-' Blackwater ...' .....: :."■•"— ' Con. G'oMfieldß :.:... 0 17 3 0 17 9 ■ Now Big Eiver 2 10 -— - Progress ■ .....;...V.........; 0 12 3 0 13 0 : ~ Eoss. G01dfi01d5..........; 0 9 0 0 9 3 '' Tho conrso of : e«iWs during" tho paet week , wa: as under:— . . , ■ Kuranui: Caledonian, Is. 2d. • . May- CJueen, 2a. 3d. N.Z: Crown, "4s. 3d., 4s. lOd. Old Hanralti, 3s.' lid. .'. • v. -■■.■•- . Tairua Broken Hills", Is. Id.'.. . -Talisman,-435. 3d.,-435. 6dr, 465. 6d., ,465. lid. 455. 6d.. 455., -445. Waihi, £9 175., £9 17s. 6d.. £9 17s. 6d., £9 15s. Waihi Grand Junction, 365., 355. 9d., 355. Cd. 345. 6d., 345. 3d.' ~.-.• Waitangi, 25.. 6d. ' - •■ ■■■■.-. ■ ■ > Consolidated Goldfields, 183. 3d., 18s. 3d., Progress, 12s. Cd. ~.-.• . V. :> Eosa Ooldflelds, 95., 9s. ; :: : j.i/.:;'.. ■ .'■,•>.!> ', , STOCK; ;;■'. : IBs. TclccraDh^Errtß'AVsoclatlbh.r .-' , •".' .., Auckland, December 11. Business at this. '.mqrriinß's call of.'the Stool Exchango included:—..-• ' Tairua Broken' Hills; Is. Id. _ ~ ' Grand Junction, 355. to 345. 9d.;>' Options, Bs, 6d Golden Pah, 3Jd. -■. y- ■■■ ■ '■■■•■'-'':-':" '.-'■.■ NeW Zealand Urown, ss.'sd.',' ■ • ■ . Talisman, 445. to 43a. 9d. . . Waitangi, 2s. 6d. Waihi,' 196 a. 6d. to-1970...| -. . . . •■■; Pride pi Tokatea,' 4Jd. ' ... ' Kuranui, 7d. ■■■ •■'-..." :.- ■ :' : ■' . ■ New Zealand InsurancOj 765. 3d. to 765. 6d. Northern Steam (paid), ylM.'■■'- ,•;.,. Kuranui-Caledonian, Is. Id. . . Sylvia, ss. 6d. ' '...- .; . ■,-., •■■ , .. • s. ' 1 Waiotahi, 4a.'lod: to 4s. lid: ■ •■ v •• ,- \ Monto Ohristo, 4d. .-. ■■ Old Haurakii 3s. sd. to' 3s. 3d... . .-..;.. ~ .; Koyal Oak-(con.),ls. to'ls. 3d,--) . ■ -~:■■•. • ,-: / DEEDQING. .. ' . (By Tclcjraph-l'rcss' Aisoclatlon'.!" ■ Duncdln, December 11. .returns:-Waikaka United, .No. 1 340z. 2dwt.; Waikaka -Onited.No. 2, -400z.' 16dwt. Punt, 13oz. 3dwt.; Now Trafalgar, 7oz. 7d\vt. Sandy'Point;-380Z.; Manuherikia, 200z.; Oharltoi Creek, 13oz. 14dw.t.; Eising . Sun,' 350z. 2Zdwt. Worksop, 220z.. 15dwt. ■ ■ 1 . ■'■ ■•■■.'■"■■••■, / ■-'■'. Dunodin, December 12. Dredging,, returns:-Golden -Bed,- C7oz.- :17dwt. Chicago, :280z.-3dwt.; Otago. No. 2, 220z.; Otago No. if 190z.; Muddy Creek, No.. 1, -17oz, 7dwt. Olrig, 15oz. Bdwt.; Enterprise, looz. ludwt.; Mudd; Creek, No. 2, 10os. , .'- . ."■.:.■ .'' ■■■'■ MINING'NOTES. . \' : "r Mountain King.-The manager of the Moun tain King mi.".e, Kuaotunu, reports that worl has been confined at tho intermediate level, t driving into tho western wall to intersect tli; main reef. Tho country "is .firm, •'there. -beit-i numerous mineral seams and nunies crossini the face. Tho last, few feet of-.-dri.vmg has cu several leaders, ranging from 'Jin. to 2m. _ n width, and a strong flow ot water is lssuini from the face. The main body should come ti hand at any time. Stbping south the rce looks well, and is producing a fair amount. o ore, showing strong colours'of- gold. ■ -Tin leading stopo haa been earned .along,,2Cft.,.fr.oi tho main-rise.'. There• has only beon.a siiml proportion of the reef taken dowu, showing-gol well distributed .through the ore. p| ..,,-.. Talisman—The prcs'snrj ol_water in the shaf below No. 13 level in tho Talisman mine-ha eased off somewhat during the past few day! and the pumpo are now handling a!»out 30.CC Ballons of water per hour. The work of ail vancing the south face at No. 13 level has no

et been resumed, and beyond tho fact that the ast vein at this level is.not looking as.well as fas tho caso fiomo dlstaneo back from the proout face, there is no change to 'report from ho development works in progress ~ unuciv iround., : ■ : .'■■-. Prido of Tokatea.—ln No, 7, slope on tlio cross odo gold has been seen in Iho ore from tho ace, from which between four and flvo pounds if picked stono wore bagged. Tho drivo on tho he course of the footwall lode has been exended for 60ft., but nothing of vaiuo.hae been net with. Littlo or no work has been, donoon ho lode .'lit the Smith level, tho men bointr ingaged timbering. . ■ .; ... ■ • .. ■ ■ AVaiotahi.-At No. 6 lovel tho rcof ib about 18in. n width, and colours of Sold are seen." . In tho ifth,ptop? at No. 5 level the Cure reef is. about ■ill. in width, and during ■ the week 4!b. of licked' stono were selected. At the intermediate ovel the main reet is now tho full height of tho irive, but no gold has been'scen. The croescut it No. 4 level through the mainrcef is 29ft. from .he face. Thero is now arilT of euartz from iin. to Bin. in width, which in ca: ..'.ag a little aright mineral, and is underlyhc .ho ramo ns Iho main reef. The rib will, however, bo passed through in tho r.c.xt round of holes. Tho third itopo on the hangingwall leader has been-car-ried west of the rise'27ft. ■ Tho leader is from iin. to 12in.,in width, and a littlo picked Btono is coming- to hand, 151b. haying ,been selected since Wednesday ■ last. :Now Comstoek.—So. 2 level is in 220 ft., and Is now about 40ft. iuto tlio company's ground, it the low level, driving on tho Stirling leader is about tho same a; past reported. The country is very favourable, and the leader should improve at.any time. ; Tangiaro—ln the Bmithy low love , , on the new reef, ..the drive , is now in 292 ft. Tho reef continues about 18 inches in thickness, shoving sood minerals and prospects oJ gold occasionilly. .Driving west on tho Crown leader has been continned from tho Golden Shore reef, nr.d the drivo is now in a total distance of 60ft. through Bood'country. Tho leader varies in size to about j inches in width, and is of a puggy nature and looks very encouraging. A start has been made to put in a lower lovcl, just above hurt water mark, .on the Coromandel side of the range, to strike the Golden , shore, reef 30ft deeper. ~..■■• ■ New Waitaia-.—Two men arc still engaged ris ing under the big stopo at No. 5 level. Th< country is very tough. The battery has beer running eight hours per day on dirt from the big stope. An , elevator is being erected t<l convey slimes back from tho settling pits tc the agitators, and when completed, about Tues day, will greatly economise their handling. Tho low level is in 246 ft. The country is eltehtlj harder, but still very fair working .ground. Phoenix and Tairua- Dreadnought.—Tho con tractors have driven 22ft. for this-neck. . Th< country driven through this week is tho besl Been in. tho tunnel. Several veins of coppci pyrites have been mot with. •• ■ ' Handsworth United.—The south drivo at the low level is in. good country. ..Several-small stringers aro showing .in the face , and. smal seams of gold are seen occasionally.. A-starl has been made to drive back north upon the lead where it was .first mot, before gettinp up to tho winze. Good progress is being mad< with the work of cleaning up and. ropairing tho Otama low love!, over 300 ft. having beer, cleared up'to tho present, and next week shoiilc see this work riearing completion.. Bendieo.—ln tho leading stops north on the Silver King reef, 9ft. of oro is being broken and tho stone looks well. Tho face is now half way along the level. .. ' .'■.:'■.-.' .-■■-■■ 'Watchman.—The low tunnel,h 147 ft. from the flatsheot.. Two feet back' a. seven-inch leadei was passed through," which will bo driven upor to test its value. . , Ifonte Christo—A winze has been started oi tho cross leader, fiomo pieces , of stone hare beet got, showing, gold -.freely.- '.. . . ' .; ■■' New Sylvia.-Tho No. 2 riso on reef is up flSft Tho .reef; maintains its-size and value, thi hangingwall portion being strong ur minera orc.i-A band of this, fully 18in. in width, show: for the full length of the rise (12ft.), and, whei assayed separately, gives ■ high values, whih general samples for/full width of reef•give goO< payable value. The drive on the reef in th< north . end is 48ft. north .of No. ,2 rise. Thi reef is slightly lower in value, owing to ,thi broken nature of the , ore, but last assay showee improvement, and tho reef appears to ho ajran making into a compact body. 'New Zealand. Crown-Crushing has been re sumed at tho New Zealand Crown mir.cs. Karn nganako.- At present'the battery is only run ping .one shift, but as'development works ii tho deeper, areas of the-mine, which are nov thoroughly drained, .will bo puirtied 'on' mor. vigorously after tho holidays, and tho under ground .staff, increased,, it is anticipated tha an increased cuantity of <-,ro ; will be scnt ! t. che null .early nest sear. ■ Tho ■ mine suporin tendent (Mr. V. B. \V.- Daw) oxprossca bimsol well pleased with Hie results disclosed sine the resumption of work in the mir.e, and e:iii guino oflho future.,.Tho nuartz going to , , tin mill is being, won from the main reef belo\ No. 5 level, and from.tho hack of the-Nos. and 4. lovclr. At tbo bottom'workings tha lod averages about <ft.' in width, and has bee: opened up for a length of about 230 ft., of wliicl 128 ft. is high-grado ore. .A winse,l2ft. long, b , 6ft. wide, is following the lode down from Nf 5 level,- and as operations are being carrie on in virgin country, developments hero will b followed with interest. The wholb of Iho quart comins from , the mine gives■ ail average valu of upwards of i i£6:,iipr.:.ton > .n=d the stone show f roc gold., j The j flno/. plant, for: nr watering the' •mine -to, a 'Rrcator depth,-' abd. fo haulage-, (supplied t'o designs'-prepare, by tho. superintendent), has' been installed," iui' an inspection showed' that the schiimo ia-mos complotc. -makiiiß tor high efficiency combine with economy. 7Tho installation is of a mos permanent character, and thoroughly lip-to-dat in every detail. • ... Tairua lirokeri Hills.—According to tho man; ger of the-Tairua Broken Tlilli mino'tho intei mediate crosscut. is ■' now , ■in 49ft., < and is in good 'class of- country- for gold. Tho Wollingto reeJ from its course and dip should bo intoi Eected shortly, and .still further west the Puno reof shoiild lie met with.. Tγ. the southern cros: out,'.advanced 16f1,., a'stringer 6in in width ha boon passed through. : .- ■'.'.'■■'. iJr Old .Alburnin.--In the drivo east- of tho wini in tho ■ Old Albnrnla mine, -Thames, tho .re< averages 2ft. thick. /Another Eft. of driving, Vjis t.hp; manager, .should lirinir it to tbo point wjlfli two. or throe pounds of - picked■■ stoho wet secured in the level overhead. In tlio-west en the oro body js well mineralised, and carrii indications that iuah«:'fur gold, so that an in iprovcment in" vnlue Is .'luuljod' for at any time. .' -\WAIHI GRAND ■■JDHCTION. , '-: ■„.-?. During tho four-weoklv period ended Novomllc 30 last, thoJfaihiGrandilunotiou Goldv Mining Co utilising ;36 stamps, crushed and treated 5182 tot of ore for a return of bullion valued at £9621. i 'compared with the return for tho provious foii woeks, when 4720 ' tons of ■ ore and accumulate slags' gavo ,tho record . yield of £11|2I)6 nUs., , ',!; represents a decrease of £1585.155., whilo con pared with that for tho.corresponding period.'c last year, when 3728. tons yielded £6138 3a. 3d it shows an increase of £3452 16s. <d. This retur brings tho total value, of tbo. bullion .won froi the mino to date to £260,838 12s. Id.,'as .showin tho following tablo:— . . ! -, ■-;.-•••■- .'. - =■'■ - ■-.'.£ 's.'( Total to. end of 1907 ......-..:..:..„..•......' 89,62614' In IDDB,. 40,050 tons _ , .-;, 70,91813, i ' Total :.„........ £160,545 8 : Period ending-- . -. ■■■■-. January 23, 1909, 2470 tons 3,991 B : February 20,: 1909, 4207 tons 5,784 0 . ■:• March 20, 1909, 4411 tons 5,133 0 - April 29, 1909, 4775 tons ' ■■ 7,056 0 May 27, 1909, 4291 tons .....:.. ..:... 6,507 0 June 26,- 1969,'-'41150 tons .-. 6.503 1) , .Tuly-13, 4535 tons ; 7.601 0 ' August 10, 1909, 4850 tons ......'.....; 8,408'0. September 7, 1909, 4902 tons .....:... 9.574 .0 ' October 5, ISO 9, 5032 tons ....;'... 9.908 0 -. November 2. 1909. 4720 tons and 51ag5'.;....:..... ; .....:.. n.20615 ■-, November 30,'1909, 5182toris .', .9.621 0 . 'Total.to.,dato. ......'.,:.....;....':......... £250.858 12