Finance, Stocks, and Mining.

Free Lance, Volume II, Issue 67, 12 October 1901, Page 5

Finance, Stocks, and Mining.

AT last theie is sonic piospcct of the sugsu beet mdustn hems established in the colom So long ago as IHB4 tlicic was consulciablc talk of staiting tho industn and altliougli tlio CJo\ 01 ninont of the cLn ofteied a spitial bonu.s no progicss was ma<lo Since tlicn the subject ha.s ci opped up at mtei\als, but the tauneis lia\e 111\anabh asked that someone else should stand the 1 lsks About two \oars ago some FrenchincMi offered to gn c the mdustiA a start but tho\ stipulated foi a, l>ig bonus, and othoi concessions moie or less impossib'e * * * An Knglish sMiduate is now ino\ mg in the mattei and ,in agent of the syndic ate appears to ha\e made satisfactoi\ anangemonts witli the faimcis m the Waikato and is now ondeavouiing to induce the Manaw atu farmeis to giow sugar beet As fai a,s can be ascertained the sMidicato does not '•eek am special concessions fiom the GcneinmiMit, but are anxious on 1 % to get some guarantee that a sufficient aiea will be de\ oted to the i oot * * * The Manaw atu distuct ought to be well adapted foi the giowth of the sugai boot The agent, of the syndicate offeis to puuhahP the beet at 2()s per ton .md to suppls gioweis with the seed and manuic The offoi appeals to be \oi\ libeial but apait tiom tins hoot-gi owing will be piohtab'o if a steady market at LI pel ton could he assuied The puce of beet sugai is just now \oi\ low, Geim.ni beet sugai standing at something like 17 l()s pel ton It the sugai bounty was abolished on the Continent and the home consumption oncomagod b\ a i eduction in pi ices the piesent pioduction would be no moie than ade(iuat<> to the demand It is to be hoped that Mr Marcus Jones will meet with success in the Manaw atu If the faimeis aie ah\e to then own mtoiests the\ will gnc the ioc|iuie<l <issuiancc and denote sufficient aiea to the c-iop The onl\ possib'e di aw back to the mdustrv is the labour C|iiestion It the wages and hours of labour aie upon the \ei" strict union linos the cost of pioduc tion m.iv be oxcessn c Still, that is a question that the s\ ndic ate has no doubt taken into consideration * * * The decision of the Go\ eminent to establish a Common lal Intelligence Buieau in connection with the Department of Tndustiies and Commeice is a good one ai.d should be well supported Ihe industrial community is suffering n oni lack of inclination We realh do not know what new industries can be started in the colon} on a profitable basis and it. is onl b\ obtaining outside mfoimation that we are hkelv to lealise that wo can do a gieat deal The Go\eminent will obtain all the Commercial lepoits fuiimh the 1 British Board of Tiad(< b\ the Consulai scimcc and tins means that we shall li.n c the cieam of all the conuneicial and mdustiial iica\s oi the world * • » The Department of Commeice and Industiies will become a \ei\ important blanch of the public sen ice moie paiticularlv if it is caietulh oiganisod Tlu chief of the Department Mi T X Donne, is a \eiy capabh> man, full ol i esource and abo\e all, courteous in the extieme, and if piopeiU assisted will do tli(> coinmunitN a gieat deal of sen ice The wool salts dosed on Thmsda\,the 10th instant and the torn at the finish was slight!\ woakei tor nuarl\ all d(s(iipUons of wool than at the opening doubled wool has shown no nnpio\einent what(n ci and the outlook as tai as this class ol woo! is concerned lemains as dismal as o\ ci Aga.mst the depiesMon m wool must be placed the slightK bettei pi icc\s luling foi fieezing lambs while tallow also is celling bettei On the whole, the new season open-- not unfa\ouiabl\ and piodmus ought to do about as well as la.st \ eai * * ♦ It will be some time befoie we feel the effects or the Commonwealth tanff, but m an\ v\vn\ theie should not be an\ M'liuus (onsequences The maiket tor oats weill b(> chstuibed toi a time but it lemams to bv seen how othei piodu(( will lx aftccted * « ♦ The usual autumn demand toi mone\ has show n itself in London, and the ictum of the Hank of Kngland displ.nsa weakei position The outflow of god fiom tin bank last week was about LI 400, 000 and it theie aie tuitlu i hea\ \ withchawals the late foi mone\ will ad\ ance The monetai\ position is much strongei than a \eai ago but the piospcctne hollowing of laige sums is likely to kee]) latts ulatntlx high

The Queensland loan of C 1,374,000, 374,000 at, 8 pel cent has been .subsenbed twice o\ ci but appaientlj there has been no \ci \ gieat tendeimg at o\ei the minimum Theie is not likely to b» further colonial boiiowmg in the London maiket until the new xeai * * * The Commonwealth Go\ ci iimciit will in all piobabilit \ , boiiow localU <\nd .1 million loan at 3 pel cent in.n be expected be ion- tlic x< ai ends Such an issue would be a success foi it would be a. xci \ acceptable lnxostinent toi banks .Hid msuianee companies The shaie maiket is still dull and business is yon lestnctod Theio has been stiong inciuiix foi Manawatu Railwax shares at 2(>s but selle-is aie wanting 28s National Bank shales ha.\ c weakened and are now (|iioted at 73s Bank of New" Zealand shaies aie st^adx at 4()s Insuiance shaies aie flat The excellent balance-sheet of the South Butlsh Tnsmanee Company and the mcicased dividend ha\e failed to mm c tlio shaies which still stand at 80s » * * The 4 mining maiket is as dull as e\ ci Theie- is a. little moie mteiest shown m West Coast di edging owing to the excellent letuins fiom sexeial claims * * * The old Bun Tut k claim is known to be \crv neb Chinamen liaxe woi ked pcntions ol it tor a nuinbei of \eais Mit)i profit But the diodge has not got into lich x lrgm giound xet and the letums continue small West ( oast ch edging leturns geneiall\ ai< 4 getting laigei and when some of tin 4 now di edges open up then ought to be 4 ex en bettei lesults Theie is a general belief that it theie is to be am immediate linpioxement in the 4 mining market it xxill be hist noted on the West Coast * ♦ ♦ The gioss mismanagement of Otago xentuies has shatteied the confidence of the 4 public- and it will be some tune befoie this confidence ran be lestoied * * * r I he 4 Golden Rix ci diedge has gixen a \eix good yield of 300oz The- claim is situated between the Golden Ripple .md Fouite 4 en-inile Beach and was alwaxs legal ded with faxoui, and tli< 4 shaies of the companx liaxe maintained a fan I v good maiket xalue A few months ago a letum of 30Po/ would liaxe be 4 en sufncie-nt to haxe PciusciUcn consideiable excitement and led to much traffic m shaies but now tlio position is summed up in Yes it is a \ erx good letuin," but theie is no business * * * Thi 4 Golden Channel and Golden Falls Pledging Companies haxe decided to go into voluntaix' hejuulation

At. a meeting of tin 1 shaieholdeis of tlit* Cheat C'ential Di edging Compam tlieie was some plain speaking The company finds itself £700 in debt and the (hedge unsuitable and somebod\ had to cam the huiden of the blundeis l']\ entualh , a- lesolution was earned to HH|iiest the engmeei to the compam to lengthen, the laddei at his own expense * * * The Stoin and Mosquito Leads Gold Diedgmg Comp.un ha\e ])uichased the Blue Duck diedge winch is to be dismantled and le-eiertod with as little dela\ as possible * * * The Big Flat diedge 'Waipon is expected to be iead\ foi wolkw 01 k in about h\ e w eeks * * * Dm nig the past si\ months theie weie sixt\-nine mining aieas foifeitecl 01 Miiiendeied in Otago and Southland tin- total aiea being 3.W(> actes * * * Tin laddi 1 ol tin Kelly and C aM-\ dudge is Ixmiic lengthened The liokitika Rnei dndgc was to h,i\( commenced woik this we< k * * * The Lad\ ( hailton Coinpans s died»( which has been woiking deep giound is being shifted on a using bottom to ti\ and get o\ ci it * * * The Kndenoui Coinpain h,is .ui.iiiii,ed its fin.inces sat isf.ic toi il\ the capital now standing at 111 000 'I Ik diedm is pi ac tv a'l\ i e.uh ioi woi 1\