FINANCE STOCKS MINING

Free Lance, Volume III, Issue 155, 20 June 1903, Page 24

FINANCE STOCKS MINING

THK leportof the Union Assuiance SocieU (fire department), presented at the 189 th annual meeting held in London on April 24th, shows that the fire premiums of the year less reinsurances, amounted to £51(),554, and the losses paid and outstanding to £254,624. After deducting expenses, etc and providing for an morease in the leserve fund, there remained a credit balance of £83,745, which has been earned to profit and loss account » * •

It is very hkelv that a fire branch will be opened in connection with the Government Insurance Department, and to this not much objection will be raised. The insurance companies can offer no objection to another company or organisation starting business in the colony and, therefore, the State fire office as a branch business of the Government life office will not be opposed Such an office might have the insuring of Government buildings, which are at present uninsured, and the business arising through the Advances to Settlers Department might also be claimed by the State department. The private companies would be glad to be relieved of the insurances from the Advances to Settlers Office., as they have found to their cost that this business does not pay. ' There is a wide difference between a State fire department and the compulsory insurance proposed under previous Bills. ♦ * •

Money in Australia is getting sensibly dearer, and the advancing of deposit rates has extended to New South Wales, Victoria, and some of the other colonies. ltd will not be long befoie this colony is affected bv the advance. It is already stated that some life offices have advanced their lending rates by a half per cent. The tighten^ ing of money will be felt in many directions, and put a stoD to many ventures. There is nothing that the col'onv can do to stor> the adverse monetary movements The centre of control is in London, and we are beeinninq; to fee] the stnneency that was manifested in the creat metropolis some months back.

« ♦ * The sharemarket is quiet. Bank shares are in fairly good demand. Nationals had quittance at 91s, sellers now asking 935. The details of the balance-sheet to the 31st March last may be expected to be cabled to the colony any day. It is known that the National has had a good year, and this probably accounts for the firmness of the market. Bank of New Zealand shares are in demand at. £3 13s 6d, but there are no sellers. The decided utterances of the Prime Minister with respect to the State Bank question have helped to remove a good deal of misapprehension, and if the proposed banking legislation were known to investors it is probable that Bank of New Ze&rland shares would firm. Union Bank shares have been in steady demand at £37 10s. ♦ • *

Financial shares are steady at late rates. Metropolitan Building shares, £10 paid, are wanted at £12. and Wellington Trust and Loan at £7 12s 6d. National Mortgage shares are offered at 43s fid, and River Plate shares at 2fis 6d, but there are no declared buyers. The interim dividends of the Equitable Building and the Wellington Trust and Loan are due early next month and the annual balancei-sheet and report of the Wellington Building Society are also due next month. * * *

Gas shares continue to command foremost attention on the part of investors. Port Chalmers Gas shares changed hands at 31s 6d. There are bids of £4 12s 6d for Ashburton Gas. £9 14s for Chnstchurch Gas, 19s 6d for Feildmg Gas, and £4 15s for Palmerston North Gas ♦ • •

As was to be expected, insurance shares are very weak, that is to say, there are more sellers than buyers. Prices show no weakening, but, then, it is not likely that business' will be done at present rates, and a fall in values must therefore take place. Perhaps, when the intentions with respect +o State fire insurance are fully known, holders may take a better view of the position. In the meanwhile, there are sellers of Nationals at 20s 9d New Zealands at 86s , South British at 108s and Standards at 18s 9d

The shares of the Wellington meat companies are firm, and vi excellent demand. Gears (£o) are wanted at £b 2s bd, Wellington Meat Export (£5) at £7 7s, and 14s b'd paid at 15s bd. Other shares are neglected. In transport shares, business is reported in Manawatu Rails, at 28s>, and New Zealand Shipping: at £(3 15&. Union Steam shares aie offered at £12 15s. +■ * *

Miscellaneous shares are without variation. Wellington Woollens changed hands at £5 5s 6d. Westport Coals are in firm request, at £0 4s 1, New Zealand Drug shares are w anted at 46s 6d and Wellington Opera House shares, at 84s.

In mining the business of the week calls for no particular comment. Wellington speculators hayei recently taken a little more interest in Auckland mining, and considerable business has been done in certain classes of scrip. Within a week Mahara Royals have cone up from Is 2d to 3s Bd In dredging shares, more activity is being exhibited in Dunedin, but this has not affected Wellington s^eculatois who are still very indifferent.

The following tables s>ho\\ the positdon of the competing teams m the Ruebv Union's championships up to, and moluclmer last Saturday's matches

Petone . . 4 3t. Pat's Col. 3 Onental . . 3 3elv?yn . . 4 Wei. College 1 tVaratah . . 4 athletic .. i Mehose .. 3 Poneke . . 3 4 ■6 2 2 1 1 1 0 0 0 0 1 2 0 2 3 3 0 0 0 0 0 0 0 0 0 56 51 30 30 20 16 11 0 0 6 0 13 19 0 40 35 54 47 w C 4 4 2 2 2 0 0

Fifth Class.

It. James 5 [arori . . -5 'etone . . 5 ithletic . • 4 'oneke . . 5 iouthern.. 4 lelrose . . 5 )nental . . 4 VeL College 1 4 3 3 3 0 0 1 0 0 0 1 1 1 2 1 4 3 1 1 1 1 0 3 3 0 1 0 32 35 35 37 3 G 18 3 3 0 6 6 3 9 7 88 25 18 «) 7 7 (5 3 3 2 1 0

Fourth Class.

)iiental . . 5 ?t. James 3 southern 4 3 etone . . 4 3 oneke . . 6 Jldßoys.. 4 athletic .. 4 Wellington 3 lia Ora . . 6 tfelrose . . 2 Ac. College 3 5 3 d 3 2 2 1 1 1 0 0 0 0 I 1 3 2 2 2 5 2 3 0 0 0 0 1 0 1 0 0 0 0 44 SI dl 24 31 60 18 B=s 16 0 3 8 0 9 17 20 J2 21 22 56 22 90 f c 4 C C

Third Ciass.

Wellington G Poneke . . 5 Mel rose . . *> Southern 0 Athletic . . > Old Boys.. 6 Petone . . G Oriental . . 6 3t Pat's Col. 7 Kia Ora . . 6 Vic College 4 Wei. College 3 (5 5 5 4 3 2 2 1 0 0 0 0 0 1 1 1 3 4 4 f> (> 4 3 0 0 0 0 0 0 0 0 0 0 0 0 00 57 7(5 53 3G 59 37 20 22 I! a li 9 16 20 23 8 25 50 78 90 41 47 54 12 10 30 10 8 G 4 4 2 0 0 0

Junior

Matches. i Points. Unampion ship Pla\ea Won Lost Di awn Foi Agbt Points Poneke ..6 6 0 0 SO H 12 Mehose ..6 5 1 0 59 2fi 10 Petone . . (5 4 2 0 01 22 8 Old Boys.. 6 S .i 0 42 3-5 G Dnental . . fi 2 4 0 87 C.3 4 Wellington fi 1 5 0 21 69 2 athletic .. « 0 6 0 12 88 0

Senior