Finance Stocks And Mining.

Free Lance, Volume V, Issue 243, 25 February 1905, Page 5

Finance Stocks And Mining.

THE total value of the exports from this colony for last year show the satisfaotoiy total of £14 748,348. Th s compaies with. £10,010,3/8 for 1903 Theie was a deoiease last year, mainly due to the falling off inthe exports of frozen meat and grain. The advance in the price of wool was a very good set olf to depieciation m otfoei Lection,, and but for this the year J leoord would have been bad but as it is we have nothing to complain oi. n 1903 pro™ **> good tJieie * jU beCaUS6 for congiatulxtion. * * * Those who have beeai watching the tiend of the London money ma-iket will have noted with pleasure the favourab c turn recently displayed. Money is fa*t accumulating in *c metropol s and undei th.s pressure of ab«ndant supplies late, aie easing, and the Stock Exchange has benefited to an appreciable extent. Gilt^dged securities axe moving upwards, and! colonial stocks have nsen from 10s to oOs, the 3 per cent, in partuculai showing a pronounced advance. * * * The outlook seems favourable, and should theie be no outside disturbances to mar the prospect*, money ought to hold cheap until well into the end of the year. Tins will give the Colonial Treasurer an opportunity of providing for maturing loans, and making fiesh issues on satisfactory terms. Cheap money means higher price* fai produce, and this colony must thereby benefit. * * * Locally, it is to be noted that the Port Chalmeis Dock Trust ha* raised £75,000 at o pei cent. The rate is high foi a local boay, and i* i peu cent, more than the. Wellington Corporation is paying for money now being obtained by the sale of debentuie*. When local bodies have to pay o pei cent., private individuals must expect to be asked holier lates. First-class mortgages are now not acceptable under about 6 per cent. Trade is fau-ly good, and people have settled down to the ordinal y loutme after the holidays. The directors of the Standard Fue and Mai me Insmance Company, in their annual leport toi- the yeai ended 31st Decembei , 1904, .state that the income for the year, including the balance brought forward, was £108,818, and the expendituie £88,652, leaving a balance of £20,166. Fiom this an interim dividend was paid absorbing^ £2812 10s. The dnectous ha\e added £0000 to the re&erve and recommended the payment of a dividend of 7\ per cent, pei annum for the half-year, and a bonus of 1% pe-i cent., leaving £7666 to be earned foiward. * * * The tradesmen of Taranaki have Btaited 1 in to teach the insurance companaes theu- business, and they want their ideas embodied m Acts of Pai liiament. The exploit* of the three tanlois of Tooley-«treet are outdone by these very clever tradesmen of Taranak'. What these tradesmen and a good many other people do not seem to unider stand when they are dealing with insurancecompainiefo is that underwriters are not in business for their health's sake. The underw-nteis sell indemnity _ just as grocers sell goods. If the price on the terms of sale are not. satisfactory, there us no obligation to ma,ke the pui chase, and, with the State Department in evidence, the insureii is much more independent than umual. * * * TheTaianaki tradesmen, want it made imperative ' that it shall be contrary to law for any insurance company m New Zealand to refuse to enidonse on then policies insurances effected in other companies, whetheii State or private, on the grounds onih that such othei eomr panics do not belong to the Underwiiit■ers> Association." This is a very stupid proposition, because if the companies wish to refuse endorsement other excuses of a valid ehaiiacter can be found beside^ the one sought to be made penal. If the tradesmen of Taianaki are noL -satisfied, why not take the course pioposed to be adopted! by the Farmers' Cnion, and establish a Tradesmen's Mutual Insurance Company. They would then be independent of the instance companies, and would be keeping the money in the district. How they would feel when a big fire sweeps out the business portion of New Plymouth, and the mutuals have to pay up, is quite another matter.

This, constantly haia&Ning the msuiance companies may yet have a serious ending. Should 1 haif the number of companies now doing busmen in the colony letue, and theur places not be taken by others equally strong, it would be very" disastrous for Now Zealand Why grudge the companies a profit On the business of tins colony there is, .it the best of times, a very small profit. Last yeai theie was a veiy big loss, and this, year there is eveuy chance of the fire record 1 being la.rge Tilie sharemarket is still quiet, though business has shown some improvement d-u nng the past fortnight Bank shares a,i c m demand, the snares of the National beang wanted ajti £4 19s fid, and of the Bank of New Zealand at £5 10s. This is a big bid for Bank of New Ze<vlarnd shai-es, but perhaps the buyer* "kno-n something," or thunk they do The annua.l balancing period of both banks close at the end of March. * * * Financial shares aie very steady, and nn. fiim. demand. There are buyeiis of Masterton Building shaaes* at £11, Metropolitan Building shaies at £11 15s Nation.il Mortgage slimes at £2 10s, and New Zeailand and River Plate at 25s Od. * • * Gas shaies are compa,rative,h quiet, the only demand being foi Fe.il ding Gas at 23*5, and Napier Gas, ex -dividend, at £25 Insurances are still neglected, and likely to be so as long as the present low tariff remains in force Standards changed hands at 16s 6d cum dividend, and thene are buyers at 16s 3d. National Insurance shares are wain ted iat 20s, and New Zealand Insuiance shares are offered! at £4 14^. * # + Woollen shaaeb aie extieinely quiet. Theue are sellers of Wellington Woollens at £4 18s 6d, and Mosgieil Woollens at 70s. Manawatu Rails are at the very fine pace of 32s 6d and buyers appear to be freely offering that sum, from which it may be inferred! that something good is to be expected with the balance-sheet which, m the ondinaiy course, should be circulated next month. * * * Union Steam shares are wanted a,t £13 7s bd, and Ch,i lstclrarch Meat shaie^ at £10 10s. Gear Meat shares, £1 paid, changed hands> at 38s 6d, Leylaaid and O'Buen Timber shares nt 40s, and Mauriceville Lime shares at 25s 9d. Sha,iland\ oidinaiv are wanted at 225, and Donaehv Rope and Twine shares ait £12 12s 6d. Speculator^ should keep a careful watch on the dredging leturns from now onwards. So far there has, beo,n nothing sensa/t onal, but, indications of improvement are not wanting. Mining generally wll this year be more m evidence and those who aie watchful and caipnble of taking advantage of opportunities ought to make a little money With reference to Mr. Hy. Markwald's advertisment, appearing elsewhere, regarding carbide of calcium, used in the manufactuie of acetyhne gas, we are requested' to state that tihe Heat, Light, and Supply Company of Wellington are not now acting as his retail selling agents. Users of carbide of calcium are advised not to purchase this article unless the package is marked: "Sold under license, royalty paid, by Hy. Markwald." — Advt.