EXCHANGE RATES.

Auckland Star, Volume LXV, Issue 285, 1 December 1934, Page 4

EXCHANGE RATES.

NEW ZEALAND CURRENCY BASIS. The Hank of New South Wales lias arranged to supply daily quotations of the basis upon which It is prepared to do business in the purchase and sale of the foreign exchanges shown helow. The foreign currency is expressed in terms of New Zealand funds, and two rates are quoted generally, one for transactions on a telegraphic basis, and the other for on demand or mail settlement. These rates arc subject to alteration without notice. To-da: "; Rates. The abbreviations T.T. indicate "telegraphic transfers," and O.D. "on demand."

JAVA RATES. (Received 11 n.sn.) LONDON, November 30. Batavia, 7.33% florins. CUSTOMS ASSESSMENTS. Rates of exchange ruling at the announced dates of departure of the vessels named are shown in tile following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on it-rival of the vessels in New Zealand, finally declared rates being marked*: — Golden "Coast, Canada, dollars .... »4.86 Golden Coast. America, dollars .... *4.0S Monterey, Canada, dollars *4.87 Monterey. America, dollars *0.00 Port Campbell, America, dollars ... 4.981 Melbourne Maru. Japan, yen 14d Haurakl. America, dollars 4.98| Canadian Highlander, Canada, dols. 4.87 LOCAL DOLLAR QUOTES. Current dollar exchanges, as quoted by the New Zealand banks are as under, compared with previous quotations:— U.S. DOLLARS TO £1. Oct. 29. Nov. 0. Nov. 12. Nov. 2G. Buying .. 5.07 0.07 0.09 5.09 Selling . . 4.57 4.87 4.59 4.59 CANADIAN DOLLARS TO £1. Oct. 29. Nov. 5. Nov. 12. Nov. 2G. Buying .. 4.90 4.97 4.97 4.90 . Selling .. 4.7G 4.77 477 4.7G DOLLAR AND FRANC. (Received 10 a.m.) LONDON, November 30. The American dollar is quoted at 4.97% to the pound sterling, and the franc at F5Vi. £1 (NEW ZEALAND) IS WORTH:

4 THE AUCKLAND STAR, £ FINANCE, COMMERCE AND MARKETS. ™e week reviewed. antee Corporation, New Zealand Drug am ■ ' —— ~ - ~ ° New Zealand Refrigerating were all firm ON 'CHANGE. THE LATEST QUOTATIONS. a LARGE TURNOVER. J timber industry received special attentioi in sales of Nationals, Taupo Totara am rd I f* a, 'tbolomews. ® Buyers. SsIIgps. t?tt 1 xtp a vif c t owtpt? i 1 lie accounts of W oolworths, Limited STEADY AT CLOSE. Bank of AW ll/o/O - RESERVE BANKS LOWER. showing increased profits and a liiglie. Commercial 1-./0 " 1 <;/.i rate of dividend oil ordinary shares, i.e. _ Commercial (pref.) ] _ ** 10 /a/o . T TT »mrmr 221/2 P er ccut for t,lc y eal > bc . ac National N.Z 3/12/0 .. SUGARS AALUAI10N. cepted as an indication of healthy trading, COLONIAL SUGARS FIRM. Jjat. A'sla (cont.) .. G/l/o .. — conditions in the Dominion at the present New South Wales (ex _ time. However, buyers who were oiler * New Zealand After a rather tame beginning, the week ing from £8 to £S 15/ for the £1 serif Bidding at the final call of the week on i." 1/14/0 which ended last night livened up towards the Auckland Stock Exchange was steady, banu *•'" • 6 - /10 /° •• 1-/10/0 the close, and m the aggregate supplied since withdrawn from the market. with a healthy tone. INSURANCE— a satisfactory turnover. Recorded sales Latest Sales. Bank of New Zealands were stable, with Australian Provincial 10/0 .. jl/2 showed a -0 pei cent inciease o\ci tin. g ;l ] cs completed since last review have a sale at £2 8/(3, leaving a market between .!!!!!!! Z - cvl °«s week, yh.es were irregular. b , fo ,, £2 8/3 and £2 8/9, but New Zealand south British ....i! 4/14/0 !' 4/ii /o rho,, - h thc market as a wllolc liad a o/?^'"x^ eW r, Z( i ala ! l(l ,\ \r 8 / 3 Insurances seemed "weaker, with sellers at / healthy tone, there were a number of ?/(> £) v ,4 ca / and * ', • .V? £3 8/6 and 110 buyers. -.The insurance FINANCIAL popular lines which failed to hold recent Sm.t! % M/ section, as a whole, was qmet thconly Abraham Williams pf _ .. 4/IO/O quotations. 3! ES an A ft 4/'-Nation at £1 • inquiry being for South British at £3 14/. .Investment ... .. A t thesc wel , Reserve BauU $6.^ Colonial Sugars were very film and • £ M ••• 0/1/0 ... 0/ 0/0 , which had considerable business lnsurance.-New Zealand, £3 8/0, £3 buyers moved up to £41, but holders weic Au L J;fc> y _ •* l/lo/o at £6 10 / C , or 9d under thc closing valua- I)/, *3 8/0, £3 8/3; A.P.A., 11/ (2); £ I 10/ above'that. Karm. Auc. (A prof) 1/1/0 .. tion of the previous week. New Zea- National, £1 I/O (4); South British, £4 Government stocks showed little change Farm. Auc. (I! pref) 3/0/0 .. 1/1/0 lands were freely offered, and sold at 15/. from yesterday, and Waihis were quoted Goldsbrough, Mort. . 1/0/3 .. l/lo/o from 48/3 to 48/li, compared with 49/ ten Government Stock, Etc. —Four per cent, between £1 17/ and £1 18/6. KiverlMate ....... 14/0 .. is/0 days ago. Australian Banks, on the 1940, £103 7/(5, 1040, £105, £104, £104 00 "• -/« other hand, showed a firming tendency. 15/, £105, £105 15/; 1055, £112 15/. City SALES COMPLETED. Loan - 55/0/0 South Wales gained S/ with final of Auckland, 1943, 4'4 per cent £1U> N. Auck. Farm (B nf) s/i» business at £32 10/, and Commercials 10/ ; Amalgamated Brick, Maich Traders'" Finance ... !" f>/(j il^so hardened a little, with buyers from 7 Ms per cent, £103. (2); Gisborne SliccpAT THE 3.15 P.fW. CALL YESTERDAY — Trad. Finance (cont.) — ll 3/0 *«V8 to 15/9, while holders stood out for farmers, 1041, (iV? per cent, £101 10/. Last Sale. Trad. Finance (pref.) — .. 1/1/0 10/. Mining.-—Waihi, £1 10/3, £1 18/0 (2); United Build. (Auck) 18/6 .. J/l/G So far as New Zealand business is con- Grand Junction, 4/7, 4/0, 4/(5Ms (2), 4/7V£, £ s d £ . s d VVright, Stephenson . 17/0 .. — cerned, the monthly statement of the 4/8 (2); Gold Dredging, 7V£d, 7%d; Mataki, Bank ** 2 r *" •» s r right, Stephenson pf 10/G .. trading banks just gazetted indicates an 12/1 (2), 2/3; Golden Dawn, 3/ (4); BlackBank of . /' '' " - 1fl " a r 1/1 COAL improvement, for advances stood at water, £1 13/4, £1 13/0"; King Solomon, 1 4 0 ." 14 0 nearly £2,000,000 higher figures 3/8 (2); Skippers, 7>/,d. Tanno Totara 0 5 0.. 0 5 0 r ?. y 7/0 ... ruling on September 24. This seems to Australian. —British Tobacco, £2 1/0 (2), British Tobacco 2 2 6 .. 2 2 0 Uonown °ford) ~ " Vr denote a healthy demand for funds on the £2 2/, £2.2/9, £2 2/0; Colonial Sugar, Colonial Sugar . 40 0 0 .. 40 0 O Renowu nren _ " '/A P?rt of firms getting ready, tor a busy £77 5/, £77 15/, £40 (ex rights) (3);ElecElect. Zinc (prf) 1 1»> -o .. 114 0 Taupiri 13/0 Christmas. On the other side must be trol.vtic Zinc (pref.), £1 14/0, £1 1 o/S; Golden Dawn . 0 3 .. v «> ..JJ Taupiri (pref.)*!!!!.*! 1/3/0 !! 1/5/0 placed the low prices ruling for wool and Dunlop, 19/11, 19/10; Broken Hill ProprieBroken llill I ty. - i*> •• - •» » Wcstport-Stockton .. — .. :>/0 dairy produce. It seems clear that our tary, £2 12/, £2 13/; Kauri, 18/3. •• q ■.» 3 s 0 ■ Westport-Stockton, pf — .. 5/3 exports will be down several million Dominion. —Auekluiid Gas, £1 7/4; conlnsuLance . ... > pounds as compared with the 1933-34 sea- tributing, 19/0; N.Z. Breweries, £2 !)/; UNLISTED. Gfls KOn . These are vital factors in estimat- Claude Neon (N.Z.), £2 12/, £2 14/; Rr ,mner -Col Auckland — .. 1/7/0 ing the profits, not only of banks, but Traders' Finance (cont.), 3/ (2); Devon- ]?) 3 S g SO O 0 .. — Auckland (cont.) .10/0 .. 10/0 also of thc big mercantile firms which ))0 it Steam, £1 4/ (2); Northern Steam, ■\Voolworth (W.A.) 5 15 0 .. 5 11 0 Blrkenhead-Xorth. .. — .. 10 0 play a large part in financing the farmer. 0/8 (3); Farmers' Trading, 7/1; Guarantee Birkenhead - North- Jn the insurance section values were Corporation, 5/10 (3); Taupiri Coal, 13/0; AT THE 9.30 A.M. CRLU TO-DAY — \Yh° n' ' P'°' pref " • ~ •• firm and steady, with the exception of Wilsons Cement, £1 14/3; N.%. Drug, p,.....,,,, corn <r 5 10 .. 0 5 10 " 7 Zealands, which fluctuated between £4 o/0; National 'L'imber, 14/3; N.Z. nnm Breweries Oil 3 .. O SHIPPING— L ' :! "A finishing up with a Refrigerating, £1 0/3; contributing, 9/11; "NVooiworth (Vie.) _ Dcvonport Steam. .. 1/3/0 .. 1/4/fi the lower figure. up 6/ (3) ; U/0 Iir , e J J S (j " 9 s 6 Howard Smith — ... lo/o Trend of Market. U); Consohd.itcd Brnk, 10/, Abraham «uid Bank of JS.Z.... - S l> .. llnddart Parker 1/10/0 r«u. * i r it • n u Williams (pre!.), £4 //; banners AuctionGolden Dawn.. O O o O O North. Steam. .!!!! 7 0/0 !! 7/0 7 of mal *- Ct 1 ' 0 Bering (A pref.), £1 1/0; B pref., £1 0/9. Mt. Ljell North. Steam. (co,nt.) 1/4 .. 2/0 ? i i ° 16 shown in the following Unlisted. —Woolworths (W.A.), £5 11/, * P. and O i.., 1/0/0 .. 1/2/0 table:- £5 15/, National Tobacco, £3 10/; Loyal, ttj-ttt?l-iST KATES. T imr"p * * \* T * x , £1 0/0; Fanners' Freezing, £1; Auckland INTER Dec . Jta r . Nov. Nov. Tl . ott / C | tlb . 1944. p.c., £10C; Brunner, Bartliolomew 34/0 .. 13/6 |-«,,ii:„,.;™ ictjq « „,• -i'KO ,• ..<.1... Kauri Timber 18/0 .. IS/." 1»:«. 103 1. 1034. Collieries, 1938, 8 p.c., £b0. The return to the investor on his outlay, National (ex div.) .. 13/3 .. 14/C Australasia . 243/0 2G2/G 223/ 222/0 upon the latest dividends, works Parker, Lamb 1/0 — Commercial . 17/7 Ki/ll 1-i/S 1 ->/10 nn«r, mi CftID nCI\/lftl\m out as follows on the latest sales. When Taupo, Totara 4/0 .. fi/3 Jf'A* !l .'U 7 "V ' 1 IV/° LAMB IN FAIR DEMAND. Government stocks are J w/QOLLEN _ Nat-HCsiat'coii. 130/ 120/ 124/0 123/0 maturity 0 . 0 Where payment is made in Kaiapoi ............. — .. 10/0 Zealand." ''-IS/ 0 (> 4S/3 °4S/»J °48/G LATEST FROM GMITHFIELD. Sterling exchange is added. In the case of Kaiapoi cont.) o/O .. 0/0 Union 377/,; 1T0 / :: - ,/s """" •••• - - «"» «« THE BAXKB bepori. for 20 per cent interest reduction. Wellington (pref.) .. 0/12/0 .. — MISCELLANEOUS. PER CENT PER ANNUM. j) (;e . Mar. Nov. Nov. | ... ... 1 £ s. d. BREWERIES— 21. 30. 23. 30. 1 1lu ]5unk ot L ' u ' Zealand has lecened Bank of New South Wales .. 3 1 G Dora. Breweries .... 11/0 .. 11/0 r , „ 1033. 1934. 1034. 1034. the following advice lrom lte London Bank of New Zealand 4 2 . N.Z. Breweries 2/9/0 .. 2/;0/O z ; 1 I " s,1 .™ n 1 c0 - -'l' "8/3 09/ G8/G office at the close ot busmese tins New Zealand Insurance .... 2 1$ 0 ( . British . <7/ <(■/(> .),</o •••>/ week: — aEw :: 1 jl I S s: iIs 0 ' K T« ■ — Dunlop, I'erdriau .. — .. l/o/o Government Stocks of late, and the ex- heavy, 3%'d to 4%d: ewe*. 2%d to 3%d; .. a-mti TiTVITJEND IiIST. Elect, Zfnc (ord.) .. 1/4/3 .. 1/.1/0 treme figures realised in September and lambs, twos, G'/id 1\ li%d; eights, OVid CALL A-" Farmers' Trading .. — 7/2 October have not been obtainable. " An to 6%d; i'ouifi, 5V4d to oVid; seconds, '3d —— - t"i!!'!!!' ,4,™, P r ') JJ/® — instance of the changing nature of the to 6Hd. DIVIDENDS. Gear Ale-u ' — " T/r/« '"arket is instanced in 1940 Bonds. These T „. . Grey ami Meniies*.*: 5/0 .'I _ v '' «old on the first of November at £100. CvrUAWPP PATF<5 Henry ,<ones—Final, 1/ jN0W Hill and I'lunimer . — .. 17/C ste adily sagging since that date a hACHAIMut r(A I to. Aust. GJass —Int., pret., 4 d p.c., II.M. Arcade (pref.) — .. 1/2/0 ''older released his scrip 011 Wednesday ord., 5 p.c. v„ w Mauawatn Knit. ... — .. l/17/O for £f04. However, tliis proved to be Henry Jones Co-op.—ilnai, !/ .. - Milic, Choyce (pref.) 1/3/0 .. .1/7/0 bedrock, and a partial recoverv was NEW ZEALAND CURRENCY BASIS. Mata-kfc—Intermy Id a Uec " Milne and Choyce sharply registered with a sale venter,lav T>nref 33 7c.--. -•• Dcc. S «eb. stock) 19/0 .. 10/9 at £]0 .5 15'. Thc 193S's have held their ... - . • „ , v . ,,. 1K . N Z BreweHes-Int.; 3i p.c. . • ■ . Dec. 10 M™-rls " c ®» trom ~ •• valuation fairlv well, and had busine,* 11,0 }: ' nk °f I*cw &outh Wales has Woolworths (N.Z.)—Final, pref. Farmers® Fertiliser''" — " lo/o at £U - 15 /. but the '40's were almost " r '' a "S'ed to supply 1.1nlj q 1Jtations ot the bonus, 1 4-5 p.c.; ord., 1-a p.c. Dec. 11 j; / Newspapers . ! 1/13/0 " 1/13/9 neglected and the only sale was at £103 , ' 3 "I'° 11 w . 1'iepaied ? N. Broken Hill—1/G ... .... Dec. 12 "ewspapcis . . i/wu .. .1/1../J 7 business 111 the purchase aud sale ot the Broken Hill South 1/ a b re • • N.Z. Refrigerating . 1/0/0 .. 1/0/0 For 3Vi's, which had been neglected of tol ,f:!^ n exchanges shown "clow. 1/ (st) Dec. 15 N.Z Refrig. (cont.) . 0/9 .. 10/0 late, buyers came in again at lower levels. 4 rhe f t ole '8 11 currency is 11 Devonport Steam —Int.,'2i p.c. . Dec. 17 N. Roller Mills — ,, 1/12/9 and although uo business was recorded terms ot New Zealand lundo, and two Kotnata Reel's—Int., 3d . Det, 28 i"" Im Pey local sales were recorded in southern ex- rates are quoted genera.iy, one for tiansMwris Hedstrom —Int., 2 p.e. .. Dec. 31 Robinson Ice 1/1/r " T/" n clla nges 011 a new basis. actions 011 a telegraphic basis, and the Kauri Timber —3 p.c Dee. — Koinuson ice l/l/o .. I/../0 other lor 011 demand or mail settlement. 1 °dol. el 20 cents'!!I JaSilO SaSford '(pvet.) V."'. U/0 14/0 , Interest Rates. These rata arc subject to alteration " Sbarland l/r»/o .. — The following table shows the return on without notice. CALLS. Sharlancl (pref.) .... 1/0/0 .. — Government stock to thc present * pur- To-da"": Rates. Alexander—Gd a share • • • Dec. 3 Ws .J; /G ;; C h as "-' based on redemption at maturity: The abbrovmtion.s T.T. mdieatc "teleNorthern Roller Mills—3/ a share IJec. 8 TJiames Theatre .... 4/0 . Sale Accrued Ketuin graphic transfers," and O.D. "on demand." Arm Rold lAd a share Uec. 10 w«imtoi .price. interest, p.c. p.a. 01 .. Golconda —Id a share Dec. 11 Wilsons Cenie'n't* 1/1"/G " 1/l°/0 Stock. £ s. d. £ s. d. £ s. d. France — I>u.vlng. belling. ~ :: mto£1NX -ZZ: S ~ SOUTHERN EXCHANGES. 2/0/0 .. 2/4/0 I n.z. . ,v, „ no.29 fWINJNC— which the stock lias another five years to I Roil nnnnor A/ ,i ruu witil interest for the additional terui rapeete— RESTRICTED BUSINESS. Z »t 4 percent. Francs to £1 N.Z. . T.jT. G2.20 , ; 0.20 , ; — KHgonr 0/1 .. 0/3 Mining. Bj-lgluni— (By Telegraph. —Own Correspondent.) Consolidated"' Gold'" Jt! " ij/o le mining section was comparatively Francs to i'l N.Z. io'v"'' GHEISTOHUECH, this day. Gillespie's Beach .." 1/74 ?, ul, '„>V 1 si ." e88 bci " g " K , milj ; confined to Gcrwnllv _ ' ' ' ' ' ' „ . • Glenroy — .. i/i" the Waihi companies. In the case ol tnc ij«i,.i,„T-iri.-a m ri Dealings on call this moinint, • Golconda 0/2 .. 0/7 big concern investors were still ready to NZ TT 9 751 stricted to a few issues, m which there Golconda Holdings . 1/0 .. 2/0 buy, but there was nothing like so keen * U.'l>! — 1K75G was a moderate turnover. 4 per cent ( Goldlields Dredging . 0/8 .. 0/11} a demand as existed ten days ago, when Italy— stock, 1949, recorded a drop of £- smce Golden Dawn 2/0 .. :i/3 the scrip changed hands only 3d short of Lire to £1 N.Z. .. T.T. — 4G.11) the last previous business and bonds of — •• %/$ tho £2. Early in the week a- sale _ lf , , o u - ~ the same year lost 5/. I he Government King Solomon ~3/8 " 3/9 was "lade at 39/3, and later business was S w^, C , r J a ."rT N - -/ TT ,o M v , section had full quotations throughout. Komata Reefs "!!!! 6/0 !7/0 at.38/6. Junctions were in good demand ' ' ' ' ' ' o'd' 1'" 0"1 l'"'l5G Commercial Bank of Australia eased MoonIight _ /u ;• ' Q ',l between 4/0 and 4/8. finishing up with Holland— again by 2d, compared with yesterday s Mahakipawa 0/9 ., 0/101 buyei-s still in at the higher figure. Florins to £1 N.Z. . T.T. 0.052 5.802 price, and Bank of New Zealand -were Mataki 2/2 .. 2/8 Blackwaters have not received much O.D. 0.102 5.S0G unaltered with business and further sellers N Z. Crown 3/0 .. 4/0 attention of late, but the approach of Java— at £2 8/3. j - 9K lr ''° A •• another dividend distribution resulted in Florins to £1 N.Z. . T.T. [>•003 5-JJS In the miscellaneous section British iwf " i? o buyers coming forward, and sales at 33/4 , (> - r) - G Tobacco sold freely-at Waiiii ... ".'.'.'.V."'.'. 1/17/0 .'J 1/18/0 and 33/6 showed that there has been little N P Z . pence to 1 yen T.T. _ 17 11-10 the market generally was steady to iirm. Grnnd Junction 4/S .. 4/9 change in values during recent months. (j.jj, Tho only' business in mining was a re- Waitahu !! — 3/b In miscellaneous scrip a chief feature Shanghai— ported sale of Skippers at yesterdays Worksop 2/10 .. — was further weakness in Matakis, which N.Z. pence to 1 rate. Broken Hill — .. 2/13/0 dropped back to 2/1. Subsequently a dollar T.T. 39 19-32 20 29-32 A* ol 'San (rights) 0/3 .. — partial recovery was made, with business , , O.D. 19 15-32 20 27-32 (By Telegraph.—Press Association.) Mt. Morgan — .. 1/17/6 o/u, but tlie market closed quietly »', ou_ 7 iut. i-«3 en j.i/"x .» io/U li/ij'ifn,,,, o/i n «/i o/7 xs./i. pence to x i CHRISTCHURCH, this day. between 2/1 and 2/7. rupee T.T. 22J • 22 5-8 bo ® ,D *"T outhaf been 1 Zt oi Hongkong- O.D. 22 1-8 22 0-10 Zealand Government, 4 per cent 'bonds, lr/ /2 /46, 4 pic' 1! l05/0/0 !! - Not only are the directors able to recoil,- N.Z. pence to 1 1946-49. £107 15/ (2 parcels) ; Commercial 4 ' llo/11/O 1 " cll » a final distribution to shareholders dollar 1.1. 24.J-S 2.> 11-10 Bank of Australia, 15/10; Bank- of Nejv WO/o... 4 p.c. Jl./o/O ■•"■/W0 ot 5 per cc „t, rfi,,!! 15 rat £of the , , O.D. 2-li 23 3-8 Zealand (cum div.), £2 S/3 (3 parcels) ; INSCRIBED STOCK— year, but they state that tlioy have made ?/T- Z New a Zealand" rgerlt?ng (M/ 15/5/38-52, 3i p.c. .. - ..107/10/0 provision for a similar distribution next, Jollar T.T. 34 7-10 35 3-S \ paW), 10?; . New Zealand Breweries (U , « K "S,U";"! "" A O U " 35 5-10

4 _ THE AUCKLAND STAR, I FINANCE, COMMERCE AND MARKETS. ™ E WEEK REVIEWED - antee Corporation, New Zealand Drug ai ■ ' —— ~ - ~ ° New Zealand Refrigerating were all fin ON 'CHANGE. THE LATEST QUOTATIONS. a LARGE TURNOVER. I timber industry received special attentic in sales of Nationals, Taupo Totara at rd I Bartholomews. ® Buyers. Sellers. bpcptivp tiatvtcci t 0"W"F"R I I lie accounts of Woolwortlis, Liniitc STEADY AT CLOSE. Bank of AW ll/o/O - RESERVE BANKS LOWER. showing increased profits and a high. Commercial 15/9 " rate of 'dividend oil ordinary shares, i.c _ Commercial (pref.) ] _ ** 10 /a/o . . TT < 221/2 P e >" ccllt for t,lc y eal > bc . a Rational N.Z 3/12/0 .. SUGARS NEW AALUA1ION. cepted as an indication of healthy tradn COLONIAL SUGARS FIRM. Jjat. A'sla (cont.) .. O/l/o .. — conditions in tli'e Dominion at the preset >ve\y South Wales (ex _ time. However, buyers who were oll'e * New ZeaWiid After a rather tame beginning, the week ing from £8 to £S 15/ for the £1 scri Bidding at the final call of the week on i.' l/g/0 which ended last night livened up towards the Auckland .Stock Exchange was steady, banu *•'" • 6 - /10 /° •• 0/10/5) the close, and in the aggregate supplied since withdrawn from the market. with a healthy tone. INSURANCE— a satisfactory turnover. Recorded sales Latest Sales. Bank of New Zealands were stable, with Australian Provincial 10/0 .. jl/2 showed a -0 pet cent inciease o\ci the g ;l ] cs completed since last review ha\ , „„ „ _ . i, n t.,. nnv , ->ew Zealand ....... — .. 3/8/ii previous week. Values were irregular. 1 w t'nllow a sale at £2 8/(3, leaving a market between Queensland _ 'n 1 »i it 1111 i» v '/ 1 1 .-o o/-> n\ r £2 8/3 and £2 8/9, but New Zealand south British .i.:!! 4/1-1/0 " 4/ii/o rll0 "« h t!,u nl;,rket as a wllolc llad a 0 ? 1 aT / Insurances seemed weaker, with sellers at ' healthy tone, there were a number ot 8/0 (0), Aew Zealand D M01t, £1 13/. £3 8/6 and no buyers. .The insurance FINANCIAL popular lines which failed to hold recent section, as a whole, was quiet, the only Abraham Williams pf _ .. 4/IO/O quotations. 3V E S an A Vationat £ inquiry being for {south British at £3 14/. J Join. Investment ... — .. iy/n . , ,, ,, „ , , ( ,V- ' „ n „i Farm \ncr if-,\ »/7,n Amongst these were Reserve Bank 12/0. Colonial Sugars were very } F ., rlli ; £ £ £ — °^ /0 - J' shares, which had considerable business lnsurance.-New Zealand, £3 8/0, £ buyers moved up to £41, but holders wetc F . mt} Au L J;fc> y _ •* l/lo/o at £6 10 / C , or 9d under the closing valua- I)/, A'3 8/0, £3 8/3; A.P.A., 11/ (2) £1 10/ above'that. Kami. Auc. (A pref) 1/1/0 .. tion of the previous week. New Zea- National, :C1 1/0 (4); South British, £ Government stocks showed little change Farm. Auc. (I! pref) l/O/O .. 1/1/0 lands were freely offered, and sold at 15/. from yesterday, and Waihis were quoted (ipldsbroujrli, Alert. . 1/0/3 .. 1/10/0 from 48/3 to 48/0. compared with 49/ ten Government Stock, Etc.—Four per coir between £1 17/ and £1 18/0. .. ■ — 14/0 .. 1S/0 days ago. Australian Banks, on the 1940, £103 7/0, 1940, £105, £104, £10 "i,V...i\ :l 1-1,1 cu _ other hand, showed a firming tendency. 15/, £105, £105 15/; 1055, £112 15/. Cil SALES COMPLETED. Loan nmf'Mercantile - 55, 0/0 cw Suutl ! ( ? aincd .V, tinal of Auckland, 1943, 4'4 per cent £10 N. Auek. Farm (B nf) JS/fi s/i; business at £32 10/, and Commercials 10/ ; Amalgamated 1,^1J4: Traders'" Finance ... !" f>/(j il^so hardened a little, with buyers from 7Mj per cent, £103. (2); Gisborne Slice]: AT THE 3.15 F.M. CALL YESTERDAY — Trad. Finance. (cont.) — !! 3/0 15/8 to 15/9, while holders stood out for farmers, 1941, 0V& per cent, £101 10/. Last Sale. '1'rad. Finance (pref.) — .. 1/1/0 10/. Mining.—Wailti, £1 19/3, £1 18/0 (2) United Build. (Auck) IS/6 .. 3/1/0 So far as New Zealand business is con- Grand Junction, 4/7, 4/0. 4/OMi (2), 4/7V£ £ s d f , '■ Stephenson . 17/0 .. — cerned, the monthly statement of the 4/S (2); Gold Dredging, 1'Ad, 7')4d; Matak Bank N.S W. .. 32 10 O .. ,'2 30 0 U right. Stephenson pf 19/0 .. — trading banks just gazetted indicates an 12/1 (2), 2/3; Golden Dawn, 3/ (4); Black Bank of >.//. .. > co „, improvement, for advances stood at water, £1 13/4, £1 13/0"; King Solomon 1 4 0 ." 14 0 nearly £2,000,000 higher than4he figures 3/8 (2); Skippers, 7%d. Tanno Tot-ira 0 5 0.. 0 5 0 £ r ?7 ruling on September 24. This seems to Australian. —British Tobacco, £2 1/0 (2) British Tobacco 2 2 6 .. 2 2 0 0 'V •• denote a healthy demand for funds on the £2 2/, £2.2/9, £2 2/0; Colonial Sugar Colonial Sugar . 40 0 0 .. 40 0 O Renowu nren _ " o/..' P?rt of firms getting ready, tor a busy £77 5/, £77 15/, £40 (ex rights) (3);Elec Elect. Zinc (prf) 1 1»> -o .. 114 b 'I'aupiri \ 13/0 " Christmas. On the other side must be trol.vtic Zinc (pref.), £1 14/G, £1 lo/S Golden Dawn . 0 •» O .. O o v Taupiri (pref.)*!!!!.*! 1/3/0 !! 1/5/0 placed the low prices ruling for wool and Dunlop, 10/11, 10/10; Broken Ilill Propric Broken Ilill 1 ty. - i.> •• - •» » Wcstport-Stockt'on .. — .. :>/0 dairy produce. It seems clear that our tary, £2 12/, £2 13/; Kauri, 18/3. Knnils. 1,140, 4.. 10.i J-> .. . Westport-Stockton, pf — .. 5/3 exports will be down several million Dominion. —Auckland Gas, £1 7/4; con lnsutancc .0 ... . pounds as compared with the 1933-34 sea- tributing, 19/0; N.Z. Breweries, £2 9/ UNLISTED. Gfls KOn . These are vital factors in estimat- Claude Neon (N.Z.), £2 12/, £2 14/ Brunner -Col Auckland — .. 1/7/0 ing the profits, not only of banks, but Traders' Finance (cont.), 3/ (2); Devon ]?) 3 S g SO O 0 .. — Auckland (cont.) .19/0 .. 19/0 ; 'l KO °f the big mercantile firms which port Steam, £1 4/ (2); Northern Steam ■\V00lworth (W.A.) 5 15 0 .. 5 11 0 Blrkenhead-Xorth. .. — .. 10 0 play a large part in financing the farmer. 0/8-.(3); Farmers' Trading, 7/1; Guarante. Birkenhead - Nortli- Jn the insurance section values were Corporation, 5/10 (3); Taupiri Coal, 13/0 AT THE 9.30 A.M. CALL TO-DAY — \Yh°n.' ' P'°' prcf " • — •• '•>•«« a "d steady, with the exception of Wilsons Cement, £1 14/3; N.Z. Drug Porn o' 5 10 .. 0 5 10 ' '• Zealands. which fluctuated between £4 o/0; National Timber, 14/3; N./C Dnm Breweries Oil 3 .. O SHIPPING— £: } !>/• finishing up with a Kefiigerating, £1 0/3; contributing, 9/11 "Wool worth (Vic.) _ Dcvonport Steam. .. 1/3/0.. 1/4/fi -^ e the lower figure. up Tol^n/- 1 'AhAh™ l\u o 2 J; " 2 8 0 Howard Smith — ... 10/0 Trend of Market. (2); Consolidated Brnk. 10/, Abraham anc Bank of >.Z. .. - o t> .. 1 luddart Parker 1/16/0 — rri. .. i r 1 n 1, Williams (pref.), £4 //; banners Auction Golden Dawn .. OoO 0 » xokT&teitm. .1 0/0 !! I/O ° f " ial^ Gt 8 i?'° eering (A pref.), £ I 1/9; B pref., £1 0/9 Jit. Ljell North. Steam. (co,nt.) 1/4 .. 2/0 ?f. , 16 shown in the followm., Unlisted. —Woolwortlis (W.A.), £5 11/ p. and O 1/0/0 .. i/a/o table:— £5 10/; National Tobacco, £3 10/; Loyal TTJ-TVR>lST KATES. timr-d 1-, * ' 1 0/9; Farmers' Freezing, £1; Auckland INTER Dec . Jtn r . Nov. Nov. Tl . ott / C | tlb . 1944, p.c., £100; Brunnei Bartliolomew 34/0 .. 15/0 |-<,,ii:„,.;„» inw « „,• -CKO . . Kauri Timber 18/0 .. IS/." . . . U»3.!. 19:11. 1931. 1934. Collieries, 1938, 8 p.c., £80. The return to the investor on his outlay, National (ex div.) .. 13/3 .. 14/C Australasia . 243/0 202/0 225/ 222/0 upon the latest dividends, works Parker, Lamb 1/0 — Commercial . 17/7 10/11 1-i/S 1.i/10 ar/id iri CftID nClfl Allin out as follows on the latest sales. When Taupo, Totara 4/9 .. 5/3 £; s - a ' 1 «V/° 1 /I- 1 ">/e LAMB IN FAIR DEMAND. Government stocks are r inclu J w/QOLLEN _ 130/ 129/ 324/0 123/0 maturity 00 Where payment is made in Kaiapoi ............. — .. 30/0 Zealand." ''-IS/ 0 (> 4S/3 °4s/« °48/0 LATEST FROM GMITHFIELD. sterling exchange is added. In the case of Kaiapoi cont.) o/O .. 6/0 Unjon ly4 > 2 03/ 177/0 170/ :: - ,/s """" •••• - - «"» «« THE BAXKB bepori. for 20 per cent interest reduction. Wellington (pref.) .. 5/12/0 .. — MISCELLANEOUS. PER CENT PER ANNUM. j) (;e . Mnr. Nov. Nov. | . ... 1 £ s. d. BREWEatES— 21. 30. 23. 30. 1 1lu ot - N< - nv Zealand has lecened Bank of New South Wales .. 3 10 ' Do m. Breweries .... 11/0 .. 11/!) „ T 1933. 1934. 1934. 1934. the following advice Iran its London Bank of New Zealand 4 2 . N.Z. Breweries 2/9/0 .. 2/30/0 Z v, I " s,1 .™ n 1 c0 - ''V, •£.'* «»/., "S/ 0 (>li,l - e at the closu ot bu ' tlnh New Zealand Insurance .... 2 1$ 0 ( . l" ntls h . <7/ <0/(> .),</o •••>/ week: — Guarantee Corporation 5 14 3 MISCELLANEOUS- 'I3•4 1 //' J 1 Wethers.-Thcre is only a poor demand. 'British°Tobacco m 1 i • 2 10 0 i!vc,!nff Tobacco •••• 2 / 2 /° •• ?/">/'■] Auckland Gas . 21/ 24/9 27/9 Ewes.—There is only a poor demand. * 10 S SM ■■ r '"i,.v. Dunlop, I'erdriau .. — .. 1/0/0 Government Stocks of late, and the ex- heavy, 3%'d to 4%d: ewes. 2%d to 3%d; .. atvtti TiTVITJEND IiIST. Elect. ZTnc (ord.) .. 1/4/3 .. 1/5/0 treme figures realised in September and lambs, twos, G'/id 1\ 0%d; eights, OVid CALL AJ" Farmers' Trading .. — 7/2 October have not been obtainable. " An to GVjd; fours, 5V4d to 5V&d; seconds, '3d — : —~ f>J™' rr , a 1 U> '"'{1 iJ/f}, '• — instance of the changing nature of the to 6Vid. DIVIDENDS. Gear Aie-u — " T/r/« market is instanced in 1940 Bonds. These • , •/ Grey ami Meniies*:: 5/0 .'I _ v '' «old on the first of November at £109. CvrUflMPP SATFQ Henry .fones —Final, 1/ jN0W Hill and I'lunimer . — .. 17/C stea «"y sagging since that date a hALHAIMut RH I to. Aust. UJass —Int., pret., p.c., II.M. Arcade (pref.) — .. 1/2/0 ''older released his scrip 011 Wednesday ord., 5 p.c. ri"i"i'/"' v„ w Mauawatu Knit. ... — .. l/17/O for £104. However, tliis proved to be Henry Jones Co-op.—ilnai. i/ .. - Milic, Choyce (pref.) 1/3/0 .. .1/7/0 bedrock, and a partial recoverv was NEW ZEALAND CURRENCY BASIS. Matak,—Inteniu. Id a Uec " Milne and Choyce s harply registered with a sale venter,lav T>nref 33 7c.--. Dec. S «eb. stock) 19/0 .. 10/9 at £10.5 15'. The 1955's have held their ... - v „ , v . ,,. 1K . N Z BreweHes-Int.; 3i p.c. .. ■ . Dec. 10 f 01 " ". ~ •• valuation fairlv well, and had busine,* 11,0 }ank °i N«pv South \A ale* Woolwortlis (N.Z.)—Final, pref. Farmers® Fertiliser''" — " lo/o at £U - 15 A hut the '40's were almost a '-''a"g«l to supply d.al.\ quotations oi the bonus, 1 4-5 p.c.; ord., 1-a p-e. Dec. 11 j; / Newspapers . ! 1/13/0 " t/13/0 neglected and the only sale was at £103 l ua ' 3 "l ,on x . v IL . Is l )lc P aletl N. Broken Hill—1/0 ... .... Dee. 12 £•£ "ewspapcis . . i/wu .. 1/1../J 7 business 111 the purchase aud sale ot the Broken Hill South 1/ a b re • • N.Z. Refrigerating . 1/0/0 .. 1/0/0 For 3Vi's, which had been neglected of tol ,f:!^ n exchanges shown "clow. Gold—Int'.' 1/ (sU Dee. 15 N.Z Refrig. (cont.) . 9/9 .. 10/0 late, buyers came in again at lower levels. 4 rhe f'™ 1 c " rr ,! 8 f l n ' c^ d . " Devonport Steam —Int.,'2J p.c. . Dec. 17 t>', .,,. 0 MinSy — .. 1/12/0 and although uo business was recorded terms ot New Zealand lundo, and two Kotnata Reel's—Int., 3d .;*..... Dee. 28 i"" Im Pey local sales were recorded in southern ex- rates are quoted genera. iy, one for tiansMwris Hedstrom —Int., 2 p.e. .. Dec. 31 Rohinscm Ice 1/1/r " T/" n cllan S es 011 a new basis. actions 011 a telegraphic basis, and the Kauri Timber —3 p.c Dee. — Koinnson ice 1/1/8 .. I/../0 other lor 011 demand or mail settlement. 1 °dol. el 20 cents'!!I JaSilO Sanford Vp'refO 11/0 i." 14/0 , Interest Rates. These rates arc subject to alteration " Sbarlaud l/.")/o .. — The following tabic shows the return on without notice. CALLS. Sharland (pref.) .... 1/6/0 .. — Government stock to the present%pur- To-da"": Rates. Alexander—6d a share Dee. 3 1'° \\ 1/lo/u C ha s e r ' based on redemption at maturity: Tho abbr0 v iati0 ns T.T. indicate "teleNorthern Roller Mills—3/ a share IJec. 8 Tlniincs Theatre .... 4/0 . Sale Accrued Ketuin graphic transfers," and O.D. "on demand." Arm fiold lAd a share Uec. 10 Wn i ra i.-„; .I)nee. interest, p.c. p.a. ° 1 Golconda —Id a share Dec. 11 Wilsons Cement 1/33/0 " 1/l°/0 Stock. £ s. d. £ s. d. £ s. d. France — buying, belling. SOUTHERN EXCHANGES. pref. ,.f 2/0/0 .. 2/4/0 I n.Z. . T.T. 02,9 ,,,,, fWINJNC— which the stock has another five years to I i) - Roil Hnnnor A/ „ run with interest for the additional term rapcete— RESTRICTED BUSINESS. """V. - " ¥$ at 4 per cent. Francs to £1 N.Z. . T.jT. (|2.20 .9,29 , ; — Kllgonr 0/1 .. 0/3 Mining. Bj-lgluni— (By Telegraph. —Own Correspondent.) Cbns'oHdated' Gold -t! " 37/0 The mining section was comparatively Frnnes to i.1 N.Z. . 'I . 1. 1' j GHEISTOHUECH, this day. Gillespie's Beach 1/74 i l ," l, '„ 7 bl . 1 , si ." ess bei ! 1 S mainly confined to Gcrwnllv _ ' ' ' ' " „ ., ., . • Glenroy — .. 1/1" the Waihi companies. I11 the case ol tnc m r 1 Dealings on call this motnint, • Golcouda 0/2 .. 0/7 hig concern investors were still ready to NZ TT 9 751 stricted to a few issues, m which there Golcouda Holdings . 3/0 .. 2/0 buy, but there was nothing like so keen * U.'l>! — 1K750 was a moderate turnover. 4 per cent ( Goldlields Dredging . 0/8 .. 0/114 a demand as existed ten days ago, when Italy— stock, 1949, recorded a drop of £- smce Golden nawn 2/0 .. :i/3 the sci*ip changed hands only 3d short of Lire to £1 N.Z. .. T.T. — 40.11) the last previous business and bonds of Golden Ioint — .. 0/2.1 tho £2. Early in the week a- sale _ if , , o u - ~ the same year lost 5/. ihe Government Kiug Solomon ' 3/8 ** 3/9 was ,nac ' e afc 39/3, and later business was V7 ,„ - i(r section had full quotations throughout. Komata Keefs "!!!! 6/0 !7/0 at 38/6. Junctions were in good demand ' ' ' ' ' ' O D* 3 1 " 0''1 3'"'l50 Commercial Bank of Australia eased MoonIight _ /u ;• ' Q ',l between 4/0 and 4/8. finishing up with Holland— again by 2d, compared with yesterday s Mahakipawa 0/9 ., O/lOl buyers still in at the higher figure. Florins to £1 N.Z. . T.T. 0.052 5.802 price, and Bank of New Zealand were Mataki 2/2 .. 2/8 Blackwaters have not received much O.D. li.102 5.S00 unaltered with business and further sellers N.Z. Crown 3/0 .. 4/0 attention of late, but the approach of Java— at £2 8/3. , ,. ?, 1 a n r 'i° ~ •• another dividend distribution resulted in Florins to £1 N.Z. . T.T. 0.003 5.778 In the miscella-neous section British -,?/? •• buyers coming forward, and sales at 33/4 , (> - r) - 0.0o3 Tobacco sold freely-at Waiiii ... ".'.'.'.V."'.'. 1/17/0 .'J 1/18/0 and 33/6 showed that there has been little N P Z . pence to 1 yen T.T. _ 17 11-10 the market generally was steady to iirm. Grand Junction -1/S .. 4/9 change in values during recent months. Tho only' business in mining was a re- Waitaliu !! — 3/9 In miscellaneous scrip a chief feature Shanghai— ported sale of Skippers at yesterdays Worksop 2/10 .. — was further weakness in Matakis, which N.Z. pence to 1 rate. Broken Ilill — .. 2/13/0 dropped back to 2/1. Subsequently a dollar T.T. 39 19-32 20 29-32 A* ol 'San (rights) 0/3 .. — partial recovery was made, with business , , D.D. 39 15-32 20 27-32 (By Telegraph.—Press Association.) Mt. Morgan — .. 1/17/6 a j. 2/3, but tlie market closed quietly »'„£, v}^°"T Alt# i-«3 Cll ............ J-1/"X . » lo/U l.nfn-n/1,, O/l n «/1 O /7 XN./i. PCIICC LO 1 1 CHRISTCHURCH, this day. between 2/1 and 2/7. rupee T.T. 22J • 22 5-8 o .,f",a" I Sliilgi! Hongkong- O.D. 22 1-8 22 9-10 Zealand"Government, 4 iTer cent 'bonds, 4 pic i.'.'!! !! - Not only are the directors able to recoil,- N.Z. pence to 1 1940-49. £107 15/ (2 parcels) ; Commercial . ' lWr,/n no/ll/o a " nil ' distribution to shareholders dolhu 1.1. 24-j-S 2.> 11-10 Bank of Australia, 15/30 ; Bank ot' Ne>v W0/.k., 4 p.c. Jl./o/O •;U-/ 1 »/» of 5 per ccilt! making I5 per cent £ol . tk , o.D. 2-1 i 25 5-S Zealand (cum div.), £2 S/3 (3 parcels) ; INSCRIBED STOCK— year, but they state that tliey have made ?/T- Z NPw a Zealand rat K.frgerlt?ng (M/ 15/5/38-52, 3i p.c. .. - ..107/10/0 provision for a similar distribution next -Jinar T.T. 34 7-10 85 3-8 ! VftT- Znl« 1 Breweries (cum 1941, 3} p.c 100/0/0 ..102/0/0 year, and they expect to maintain the O.O. 31 5-10 35 5-30 f. S K?S / 1 ; / ? c io9r,/pS ( ™ 3 5/1/40, 4 p.c 103/0/0 ..103/15/0 same rate for a considerable time. The _ ° J ° b gp!j; | K ; ;;;;;; ;; ~ JO """"" 4AVA RATES ' ' £2 2/s (2 parrels) i Skippm. SM.. ..ll-.wu Australian Seturiti.s. «».) CHItlSTCIIUKCH, I<riday. UNLISTED ••• There was a better demand all round LONDON" November 30 Commercial Bank of Australia, 10/; . ilknit 1/1-/0 .. f 01 - Australian securities, following tiie i, . » w i, (]„, *' Goldsbrougli. Mort, k. 1 9/3 parcels) ; Golden Crown . 2/. .. 3/3 trend in Commonwealth centres. It is Bataxia, /.33/ 2 flouns^ eels) ; Beath and Co.,' £1 12/0; Colonial " conceded in responsible circles that steady CUSTOMS ASSESSMENTS Sugar. 41 3/; Consolidated Brick, 10/1; improvement continues to mark the ouoiuivia rtoafcoaivitlN a. Big River, 1/0; Golden Dawn, 3/, 3/1J; c J GREEN'S MONTHLY REPORT internal conditions m Australia, and the Mahakipawa, lOd (2 parcels). _ ' " investment market is now supporting in- Rates of exchange ruling at the Unofficial: New River (4Jd paid), 5d (4 dustries and other local enterprises much announced dates of departure of the TMwr 1S lifl°'Vs narcels) r ' C Procera J Bread "(10/ , C ; J- Glceil > Limited, stock and share- 1 "ore freely. vessels named are shown in the following ™id l4/ - Woolwortlis ( Sydney) £3 17/. brokers, report the following sales for the m On the Auckland Exchange British table. They are subject to confirmation 1 • ' • • ' mouth ended November 30:— Tobacco engaged a good deal ot attention by the Customs Department when the WELLINGTON, _ this day. Debentures.—Inscribed stock 4 ner cent a , nd ' under , steatl 7 buying pressure, the exact time of departure is learned on Sales. —4 per cent stock, 39uu, £112 5/; 15/1/40 £105- 15/0/43 £109- 15/6/55 £11'> moved up trom £2 1/9 t 0 £2 2/9, arrival of the vessels in New Zealand, New Zealand Breweries. £29/; Dominion 2/6;3% ''ghest .figure recorded for a con- final]y dec]ared rates boing marked*.- ' Iertiliser, £1 V* per cent, 15/1/40, £103 10/; 15/2/46, £io4- s ' derill3le llod -„,^ lcct , 1 '°.f Preferences Golden 'Coast, Canada, dollars .... »4.S6 LLLINGTOIv, Friday. 15/4/40 £100 10/- J - ll9 in/ 0 rose from 34/6 at the beginning of Golden Coast, America, dollars .... *4 9S National Bank of New Zealand, £3 12/0; Vt. ,i 10/0/00, iu/. t]le wee] . to 35 / 3 at the close, and in the Monterey, Canada, dollars *4.87 Bank of Ncw'Zealand, £2 8/0 (0 parcels) ; Miscellaneous. — Amalgamated Textiles same way Broken Hill Proprietary moved Monterey. America, dollars *5.00 Kclbnrn Tramway, £1 0/0; New Zealand (Aus.), 12/10, 13/; Associated Motorists' U p from 52/ to 53/ fort Campbell, America, dollars ... 4.981 Refrigerating (10/ paid), 9/11; Big River, Petrol, 21/; Bank N.Z., ord., 48/9; D Chief interest, however, centred in the Melbourne Maru. Japan, yen 14d m -oi n-nnimrtiis (Ci'iinwi x- ■, nitge., 33/6, 33/3, 33/2; Birkenhead and change-over of Colonial Sugars from cum p n a " r 'j!f 1 ' 4{?' " Vi' l Unofficial. oolworths (Sjdnej), £3 Northcote Gas, ord., 15/6; Broken Hill I rights to ex rights. They were sold cum Cnnadl ' ln Highlander, Canada, dois. 4.87 Pty. (cum div.), 51/, 51/6, 50/6; ex div., rights at £77 15/, and ex rights at £40. rnpAi nni i ad niin-rrro DUNEDIN, Friday. 51/, 52/, 52/6, 53/, 53/9; Claude Neon On this basis those who have kept buying LOCAL DOLLAR QUOTES. Union Bank, £S 15/ (2 parcels) ; West- (Syd.), 47/6, 50/, 53/, 54/3, 55/, 54/3, 52/6, since the directors made their announce- ■ port Coal, £1 0/0; Beatli and Co., £1 52/. 51/6, 51/9, 51/6, 52/, 51/6, 5'2/, 51/6. ment in regard to capital adjustment have Current dollar exchanges, as quoted by 12/0; Colonial Sugar, £40 ; Big River, 1/0. 51/9: Commercial Bank, 16/; Consolidated been fully justified in the result. The the New Zealand banks are as under, Brick and Tile, 10/9; Dominion Breweries, intrinsic value of the shares is another compared with previous quotations:— 11/2, 11/6, 11/4, 11/, 11/1; Eldorado, 21/6; matter. A§ was emphasised in these no nnrr.\i>« to p i GRAIN PRICES FIXED. Farmer and Company (Sydney), 26/; columns the capital adjustments that were on * 1 r ' Farmers' Trading, ord., 7/2, 6/11, 7/, 7/3, proposed would not of themselves increase Bllvin „ n 07 0 07°" ' odd lots, 6/ 6/6; Glaxo Manufacturing , the -company's earning powers by one Sel ' llrt | ;; 4 . S7 4 ; 87 S!) ACTION 1-N AKUJi-A llNA. Company (N.Z.), pref., 17/; Loyal, penny. As an Australian Minister stated, Limited, pref., 20/6; Milne and Choyce "it was like giving the shareholders two CANADIAN DOLLARS '10 £1. uTTvnQ ATTJirc XT . „1 on (deb. stock), 19/6, 19/3 (odd lot), 19/; ten-shilling notes for £1." Point is lent r> . N°v. 5. Nov. 12. Nov. 20. BCkNOb AIKLfe, No\ ember 29. National Tobacco, 70/, 70/6, 70/; New to this aspect in the latest accounts, which s 'i'-r ,'21 j- 90 ■ The Ministry of Agriculture has issued Zealand Insurance, 69/6 (odd lot). 69/3: show reduced profits over the last half- = *• 4 '' ?- 7G a decree re-establishing for tho new crop New Zealand Perpetual Forests. 43/6, 42/; year. However, as the lessened amount the basic prices of grains originally estab- Oamaru AVoollen (odd lot), 8/; Reserve ' s s ti" sufficient to pay the customary 12Vi> DOLLAR AND FRANC. lished in November, 1933, when the Gov- Bank, £6 12/; Silknit (N.Z.), (2), 32/9; per cent dividend and bonus and place ernment initiated its giain-buying pro- Tru-Color Film, .pref. (13/ paid), 25/, 20/: £92,000 to reserve, there is little need to (Received 10 a.m.) gramme. The price of wheat is set at Timberlancls Woodpulp (ord.), 45/; Wil- worry over the reduction. The directors LONDON November 30 5.175 pesos per cv. t., equivalent to 1 dollar liams Rotary, 1/, 1/3, 1/4, 1/2, 1/; Wool- announced that they ' expect to <v j dollar is nnoted -,t 4 07%; 08 cents per 220ib. ■ worths (Sydney), ord., 75/, 75/3, 75/, 75/0, ■l li,kc distributions to shareholders under , I ! 1 ° "f 1 "j' 1(1 ° ] 1 . 1 ' 11 1 ' S CI " ot , Cfl « lt 4 !) '« The decree authorised the Grain Con- 75/3, 75/6; Woolwortlis (Sydney), 1st the .new capitalisation, in the same pro- poun " the tianc at trol Board to purchase on.the Govern- pref.. 41/, 42/. 42/6; 2nd. pref., 27/9. 28/; J?, 0 , 1 ' 1 ' 0 " as - I' , ''< nm 7 n l CiU1 ment's account when necessary to main- Woolwortlis (N.Z.), 1st pref., 41/3; Wool- P? r cellt instead of 12%. At £40, /mpw vpai awm ic uinDTu tain prices. "' " worths (Victoria), pref., 28/. this gives a return on outlay of 3 1-8 per £l (NEW ZEALAND) IS WORTH: Sen or Luis- Diiliau, Minister of Agricul- Mining.—Alexander (con.), 15/; Black- cent pcr annum * , ture,-, announced»that -tJie Grain Board water, 33/6, 32/, 33/4; Bell Kilgour, 2d; Dominion Issues. j„ Yokohama (13 71 veil) l 7 7 in the—last year had purchased 4,000,000 Golcouda (lOd paid). G'Ad; Hauraki Con- There were some recessions in values 111 Sydney i o O tons of wheat, equivalent to io per cent soldated. 1/; King Solomon, 3/9, S/Oii, of New Zealand industrials and Aueklnml' In Nuw io, " k (3.97 dollars) .... 0 it; a of the-amount ,exported. All but 153,000 3/9; Mataki. 2/6, 2/6%; Waihi, 39/2, 39/4 Gas shaixrslipped 1E X Montreal (2.89 dollars) 0 10 0 tons were sold, and the board's losses 39/0, 39/8; Waihi Grand Junction, busing at £1 7/4 New 'Zealand R" 1 amounted to only 8,000,000 pesos. 4/3, 4/8; Saddle, 6d; Jd. Breweries and at 49/ iS Parii "francs)*::::::: S S f