COMMERCIAL.

Daily Telegraph (Napier), Issue 3761, 4 August 1883, Page 2

COMMERCIAL.

SIIAREMARKET,

1 liavc to report considerable activity in the sharcmnrket since my last report, more especially in gold and pefruloum mining companies' scrip, but in every description of stock there has been movement with hardening prices. The stone from the principal reel's on thcTerawhifi field having been proved to be' of better quality than was at first anticipated, lively speculation in goldfield stock set in. The boring operations at the Southern Crops Petroleum Company's works having been uninterrupted by accident 01 , other cause, and the evident intention of the directors to thoroughly test the value of the estate, have had the effect of increasing tlio confidence of shareholders. Prices have consequently gone ill), rind arc now verging on par. While the indications of oil are regarded by the experienced American borers now engaged by the company as exceedingly satisfactory, every additional fifty feet sunk will be watched with interest, and there can be no doubt but what a considerable rise in the value oh' shares will be experienced. Ross No. 2 Gold Mining Company's scrip appears to be growing in favor, and it is -worthy of notice, that most of my transactions have been with gentlemen well acquainted with the ground, whoso confidence in its prospects is shown by their investments. JnBtiranec and Piank shares have been eagerly sought after, principally Colonial Bank, Union, and National Insurance. Of the Litter 13")0 have passed through my hands this week.

Sales. —Insurance: Union, 213s Gd, 23s Dd, and 24s ; National, 20s 3d, 20s Gd, and 20s Od (scarce). Colonial Bank, 40s 0d; Ross No. 2, 3s ; Petroleum, Cross 3s 2d, 3s 3d, 3s od, 3s Sd, 3s Orl, 3s 10d, 4s, Pacific Contributors Is lUd and 2s, and Paeih'c Promoters 7s ; Manawatu Railway, 9s od.

.Sellers.—Banks : Now Zealand, £22 Ms; Colonial, <lGs 9d, cum. div. Insurance: New Zcahmd, 7os; South British, 575; Union, 21.5; Colonial, 9s; Standard, 13.s (id ; Accident, 7s. Miscellaneous : Napier Gas, £d 15s ; Wcsf.port Coal, 17s ; National Mortgage, 27s Cd; Colonial Investment, 20s: N.Z. Drug-, 245; Southern Cross Petroleum, -Is; South Pacific Promoters 7s, Contributors 2s; Ross No. 2 Golclmining , Co. as, Terawhid Golden Crown 10s, Albion lls, Caledonian Is Gd, Success '!s 2d, Wealth of Nations Is 2d, Empires Is 2d, Enterprise 2s 7d, Golden Spur 2s Id. Buyers. — Union Irisuriince, 23s Gd; National, 2os 3d ; South British, 5Gs ; Accident, Gs Gd ; Colonial Bank, 4Gs, cum. div. ; I'etroleum, Cross 3s Gd, Pacific Conlributors Is 9d, and Pacific Promoters 6s. W. G. Motley. [J3y Camle.] Lonijon, August 2. The lotal reserve in noles and bullion in the Bunk of England is .£12,300,000, a decrease of £100,000 during the-week. The proportion of reserve to liabilities remains at 41 per cent. Adelaide wheat, ox-store, remains at 17s, and New Zealand ditto at fls to 47 ; Adelaide flour, ex-warehouse, 3!J.s. Australian tallow, best beef 40s, and best mutton '11s. Hides are in good demand at an advance of yd per lb. Sytinky, Friday. New Zealand wheat, per bushel, 4s 2d ; New Zealand oats, 2s Gd ; maize, 2s lOcl ; sugar, Company's No. 1 pieces, per ton, £21. Adelaide, Friday. The wheat market is quiet, to-day's quotations being os to os Id ; town flour per ton £11 os to £11 10s, and country brands, £10 os to £10 10s.