FINANCE STOCK AND MINING.

Free Lance, Volume IV, Issue 165, 29 August 1903, Page 5

FINANCE STOCK AND MINING.

THE lepcut of the National Bank of New Zealand, submitted in London on 7th July, showed a net a\ailable< balance for the veai of £62,7(31, aftei applying £-"000 in 1 eduction of premises and furniture, and £6500 to the officeis' jDeaision fund. Dividends amounting to 10 per cent, absoibed £2-5,000, and £30,000 added to the reserve fund, while £7761 a\ as cai ried forw ard The deposits amount to £2,838,524. The National Bank is fortunate in having such a very able mar. as Mr. James Coates at its helm. The tiansfer of men and money from Europe to America continues at a great rate. For the fiscal year ended 30th June last, the number of immigrants into the United States was about one million A large proportion of the million have taken substantial sums ■with them and it may be fairly assumed that each immigrant is immediately worth an addition of £50 to the TJnit-ed States. That me?as a transference of capital amounting to £50,000,000. In addition, something like 100,000 persons emigrated to Canada, bringing on the average more capital per head than the immigrants into the United States. * * A rough estimate of 1.100,000 persons, and sixty to seventy millions stalling m capital shifted from Europe to America, will not be far out of the mark. But what of the great potential value of these immigrants who have embarked on the undertaking of subduing vast areas of productive soil in a country that welcomes every honest worker of whatever colour or race he may be ° Some American authorities are of opinion that the arrival of a million fresh people every year is at too rapid a pace, and are favourable to the enactment of more restrictive measures, notwithstanding the bounding prosperity that follow s thei transference. * * # The brewing companies in Victoria are in a parlous condition owing to the very unprofitable nature of the business. The losses made in some instances have been very considerable, whilst the profits of the few concerns on a really sound footing have been insignificant. It is recorded that the breweries of Victoria last year produced 17,162,680 gallons of beer, and used 677,2621b of hops, 625,441 bushels of malt and 5762 tons of sugar The losses have been caused through the excessive cutting of pi ices of the manufactured product.

The position occupied by New Zealand, though perhaps nothing to boast about, is still very satisfactory as compared with, the principal States of the Commonwealth. New Zealand credit stands relatively higher than the others — perhaps, the more correct way of stating the oase would be to say that New Zealand stocks have been pulled down by the weakness of the Australian stocks. * * * The trend of the sharemarket is inclined towards activity. Investors are apparently profit-taking, and, ooruseauently. more business is offering. Bank of New Zealand shares had quittance at 81s sellers asking 81s 6d, and buyers offering 80s. Nationals are in demand, at 89s, but sellers ask 91s. ♦ * * Financial shares are in firmer reouest than usual, and there are bids of £12 for Metropolitan Building shares , £9 12s Gd for Wellington Building , and £7 10s for WeEington Trust and Loan. National Mortgage shares are waited at -42s 6d, and New Zealand and River Plate shares at 25s 1 6d. # * *■ Gas shares are being more freely offered. Christchurch Gas shares sold at £9 15s, with sellers now at £9 17s 6d. There are bids of £4 12s 6d for Ashburton Gas, 19s 9d for FeildingGas, and £4 15s for Palmerston North Gas. while New Plymouth Gas shares are offered at £7 2s 6d, and Wellington Gas £5 paid, at £9 10s. Insurance shares show cheerful activity. Business is reported in South British at £5 9s 3d, and Standards' at 18s 9d. Nationals are wanted at 21s 3d. * * * Meat shares are distinctly quiet, perhaps because most of the freezing works are being shut down, owing to the shortage of fat stock. Gears are offered at £7 2s fid and £1 18s for the respective issues. Wellington Meat

Expoit sliaios, £.3 paid, are in demand at £7 bs *• * * Miscellaneous shaies aie comparatively quiet. New Zealand Shipping shares sold at £t> 17s 6d , New Zealand Drag at 47s 9d , and Shai land's at 235. Wellington Woollens are in request at £o 7s. The balance-sheet of this company should be circulated m a day or two. Ley land and OBrien Timber shares aire wanted at 41s Cd, and Maurlceville Lime at 21s. The output of gold m Australia is steadily expanding, and the yield for the fust seven months of the year exhibits an inciease of 366,1050z, West Australia accounting for 167,2590z, Queensland 02,6890z, Victoria 31,6180z,' and New South Wales 114,5440z. * - * The returns from the West Coast di edges are beginning to be appreciable. The Nelson Creek dredge gave 620z, which though not the best yield fiom this dredge is nevertheless very good. The No-town Creek, with 920z, has also done very well. The Otago dredges have kept up a very fair record, and altogether the outlook is very promising.

Sew South Wales Victoria South Australia . . Queensland Sfew Zealand West Australia . . Fasmama £Hy 7 90 0 89 15 90 0 91 5 90 0 91 10