COMMERCIAL.

Press, Volume LIV, Issue 16215, 18 May 1918, Page 7

COMMERCIAL.

LOAN AND MERC.* :. j ,LE AGENCY COMPANY. (Received May 17th, 11.45 p.mo LONDON, May 16. The New Zealand Loan and Mercantile Agency Company, Ltd., has declared an interim dividend of 5 per cent. SHARES. Waihi—Buyers 353 3d, sellers 36s 3d. METALS. Tin—Spot £367. Other metals unchanged. CEREALS. Wheat—The inarkc-t is quiot. Flour—The market is dull and unchanged. Gate, peas, and beans—The market is nrm at full rates. SUGAR. The market is unchanged. DAIRY PRODUCE.

There have been further largo arrivals of colonial butter. There is some agitation for an increased ration, but euch j3 not likely .at present owinjr to the desirability of maintaining stocks. The Aiiicd Commission has fixed the purchase price of the exportable surplus of Canadian cheese at 22 to 23 cents per pound on quay, Montreal, which is 1J cents above the 1917 price. The trade anticipates a corresponding advanoe for Australian and .New Zealand cheese

MELBOURNE MARKETS,

(By Cable.—Press Association.—Copyright.)

MELBOURNE, May 17. Barley—Chevalier mailing- 5 3 £tl to 6a; Cape 4s 4d to 4a 6d. Oats—Algerian milling 4s 3d; feed 3s lOd to 43. Potatoes— £■2 10s to £'4. Onions—£l2 10b to £13.

GRAIN AND PRODUCE

MARKETS.

(by OUR COiQCERCrAL EDITOR.)

Friday Evening. The Hon. TV. D. S. MacDonold, Minister for Agriculture, is reported to have stated recently that the Dominion required 7,000,000 bushels ol milling wheat for a year's supply. Y»'o questioned the accuracy of this estimate, and quoted the Government statistician as having 6tated that the millers' requirements were 6,000,000 bushels, but it was further pointed out that this was probably over the mark, 6eeing that nearly onetenth of the bread-eating population was now absent. A copy of the census returns taken on October loth, 1916, is now to hand, and the quantity of wheat purchased by millers during the last three census years ia shown to bo as followsl9os-6, 4,332,544 bushels; 1910-11, 5,165,763 'bushels; and 1915-IG, 5,101,102 bushels. The latter' figures are apparently doubtful as to their correctness, as in adding up the quantity of wheat used in the different provinces the total cornea to 5,137,102 bushels. We have had at times to complain of tho agricultural statistics in various ways, and an extraordinary set of errors can bo pointed out in the census returns relating to the Dominion s grain mi-j. In twenty-three cases out of thirtyjfive - k he additions do not tally with the figures xn detail, and there are errors in other directions. For instance, Canterbury in 1915-16 used 2,308,658 bushels of wheat, which it is stated cost £96,028—0r a little over lOd per bushel! Yet it will be remembered that in 1916 wheat was sold at Government fixed

priccs, which were a littlo under Gs P er bushel. The census figures relating to the quantity of wheat purchased for nulling in a year indicates that 6,000,000 bushels of muling wheat is really more than the Dominion requires for a year's supply, and they certainly prove that the Minister for Agriculture was in error, ii he was correctly reported, in 'stating that 7,000,C00 bushels were required, beyond that used lor seed ai.d lowi wheat. • . ... . The census returns relating to gram mills show this important fact that £° ur _ ® ?j? is rapidly decreasing as an industry- . m 1005-6 there were 77 mills in the Dominion, employing 534 ma!e and G female .. q 1910-11 the numbers had decreased to bb, and 5, respectively, whilst in 1910-16 t were only 53 mills, employing 3<2 16 female hands. As showing the J 0 " . cost ox milling the male mill han<ls in 1905-G averaaed £106 14s per ,3 1910-11, £121 3s Gd, and in 1910-16 £100 15s. The Hon. W. D. S. , is optimistio regarding thia , supply of wheat, bui the position does not afford much cucourag*? _ ; He says that if the threshing returns received kept up to the average 5 maintained the necessity for iiir:ortni6 . will not bccome very pressing. He has, . - ever, instructed the Board of Traido 1■ , , a census of the whole of the j wheat from all farmers immediate.l}• ... cs tho threshing returns show the P . ' the outlook is much less promising t year, v.-hcu the crop fell far f,, ■ ' f ouirements. Tho returns °-^^ 3 Slay 19th, 1917, showed that 4,484, / -/J !>'u=bel= ! of wheat had been put through U > while this year the return oi t^ire s~ ii or May 7th, reported by tho r /it C last week, gave only 2,960,114 bwheS' « £ million and a half bushels short of - total with only twelve days diffcvenc - datos when the totalp were made Pgreater shortage oi labour and coal ■ will no doubt cause the threshing little later. The yield per acre, a bushels, may show that there will cient wheat, providing that there re _ cessarv average to make up the ouirements. . . mo< ,t There is a general impress lo :a that mos of the wheat in the North Canterburj j is now threshed, though m distant par s, like Waiau, there may be some £°;> 10 There is not a large quantity iUcd many of tho samples now b elD = are only of fowl feed qua ity. more discriminating since they -perl an d stocks, and are looking more for loan an Hunters rather than for Tuscan. ' aro The demand for oats is quic . aro few local offerings, but southern being quoted in the market, rrrain is not much sale. The actlbatthe gra stores are aU full is restr.ctmg i { atl y line of v»hich there is uo . nffoctß immediately shipping. This at3 h ca f tho oats market to some extent but oat chaff still more so. Only P"®| b quality able, but there is very V" 1 " 0 tTffl **** to available. For cliaff going27to^ tho ton, £.5 10s might be■ pa.d 8 going 29 to 30 bags to the ton, nominal quotation. Couth is weaker, Tho oats market in the Soutn is £q . and there is no outside demand . oatsheaf chaff. i n eilW grown barley There is very little loCall so ld now in first hands, a small line during the week at s Zealand hits been from Melbourne that JNew wlcv at n buyer of selected advanced rates. Last wecK „ 0 £ was quoted at 5s 9d to Gs, ana puu: Pl The° fine 11 of late h* ? growers to "S t gxng of potatoes. There not ver y quantity offerin ? , but y shipping keen to do business J" f H * ota , shortage. A considerable toes has boon got a loaves ft good each vessel that with the many truci: loads behind ctoff . etf ., stores being full ot woo , s fte p(jta . buyers are not able t P at presenttoes that coula _oe , . £ 0 5a at Purchases are being made at^ country sta viona , ap neai to have with■month. Dnkcita better than any stood the blight th s ' { eelling bet- »«■ — •»' to^hite d clover has tha^"w" the last crop turned out anticipated, and clea re d clover g ?jz: as the best white. ,; 1v s t e ody in price, Partridge ncas are fnj Tl > Bteuuj but other kinds _ Linseed id now This season. The bean, crop is a Yor it. A and there is not m . week at 6s line changed hands ««» n S lu M. at a country ices pa ;d to farThe following are tlie P of mers at country v } K r'c otherwise etated: sacks extra, except j« rt - * Q Government. Milling ' f'S l lld Juno 5e & July Bs, 6s Oid, f.0.b., North Island, <H " 4f , 3( J to 4s 6d. teed Oate-Seed 4s 3d to Id, 4a to 4» s<l; m ilh - Duilß 4s 6d to ss, St« up°wtrd 8; ' good quality Daniah to —Prime malting 6s 3d to 6s 6d, 5S trS-S&f £5 iOs," local £5 15s per

ton. , OatMeKslb 09 £26 per ton, 7lb bags heavy bright £5 10s to £5 15b, medium £o to £5 ss, in ferior £4 to ££ 10s. BvwMJ-BcaV° Perennial 4s 6d to <e 9d, lighter 4s to 4s 5d ; Italian 3s 9d to 6 * IB Cd. 7* 7s 3d, lUe Iv ° o ry lis 6d to 12s, Blue Prussians 15s to 16s, Blue Imperials 16s to 18s. Scotoh tares—los 6d. Beans —6s 6d to 6s 9d. Rape Seed—4d to 4Jd. Onions —£5 sa. Linseed —£22. Potatoes —£5 to £5 ss.

DAIRY PRODUCE. The quantity of butter shipped from Lyttelton during the season ended April 30tn was 36,362 boxes, supplied, by the J ° Uo " n l "° factories:—Avon 2433 boxes, Ashburton 2031, Akaioa '2142, Canterbury Central W>«>, Christchurch Co-op. 951. Canterbury Dairy Company 280, Canterbury Alpine 2804, Oreraldine 321, A. J. Murray 192, Softou 56-<, Tai Tapu 2629, Temuka 1357. There were also 263 boxes of whey butter shipped to the United Kingdom. Tho quantity of cheesy shipped from liyttelton was 13,373 crates, leaving 9410 crates in store. The supplying factories w ® re: Ashburton 606, Barry's Bay 1086, Clandeboyo 1280 Cam 1047, Esaydale 502, Goraldine 170, Littie Akaioa 757, Le Bon's Bay 508 Okain s Bay 2330, Pigeon Bay 691. Staveley 1094, Takamatau 204, Temuka 80a, Wainui 534, Wairewa 1011, W. H. Jakins 74. There were also 634 crates of dairy cheese shipped.* Thero are no changes in prices of any line of dairy produce. Tile wholesale prices Butter —Factory la Gd not, farmers' separ xator Is 3d, dairy Is. Cheese —Factory lOd, dairy 3d, loaf 9a<i. Bacon-Sides Is 2d, rolls Is 3d, hams Is

3d. .. Honey—Extracted 6id to id'per lb. Eggs—2s 5d per dozen.

FRUIT AND VEGETABLES. Supplies of vegetables, potatoes, and onions have been coming in freely. -Deliveries of pears and apples are now gettin=, lighter, and prices are firmer. Beguiar shipments of oranges, pines, lemons, ana passions are- now arriving from Australia. A largo shipment of Island oranges is just to hand, and is selling steadily. The wholesale prices are: —Apples, dessert, bo t 8s per case, cooking 5s 6d to 6a £d, pear 3s 6d to 63, bananas IGa to 19s, lemons 30s, South Australian lemons -Us, Cook Island oranges 0s to lis, pmeapp e 14s to 17s 6d, passions lis' to 14s walnuts »a to lid per lb, choice tomatoes 4d to od pe lb. sauce tomatoes 4s per case. Beet 8d per dozen bundles, carrots 'd 1 9d parsnips 8d to 9d, radishes Bd, turn P id! cabbages lOd to Is 6d per dozen, cauliflowers 03 Gd to 7s, lettuce Is, marrows is to Us, pumpkins 3s to 6s, celery 8a per bunch, leeks Bd, green peas Is W to is «i per peck, onions 7s per oental, potatoes 6d to 14s 6d per sack. TIMAKU. (SPECIAL TO "THE TRESS."} TIMARU, 17. All good milling wheat continues to be taken at maximum prices. Somo , ® threshing mills have already "pulled and tlio vindications are that the threstuiio season will coon be over, and that tnero will bo very few stacks left to thresh m tu spring. 1 r There are no oats on offer. B grade t ' tons ar9 4s 3d on trucks, and seeo/ lines 4s &L , Oatshoaf chaff is worth £5 10s per ton. tor urime, and £1 for medium quality lines. There is very little business P®*® l0 «f, - 1 . grass or clover seed. There is a little * ni clover offering, and it is quoted at Is •» Is 9d per lb. . ... | Business in potatoes has shown a jaii ng off since th© drop in price, growers ° a strong inclination to hold for better pr » I which they feel confident will be aEaia. o j ing shortly owing to the small ??.' I Values to-day are quoted at £6 for , and £6 5s for reda.

OAMARU. (special to "the press.'M OAMARU, May 17. Very little grain of any "kind has been on offer. Any wheat coming forward is easily p.eccd at prices fixed by the Government, 'i he gToater portion of this cereal has now been disposed of. Oats—The easier tone of the market has caused growers to hold otf. There ia praotically nothing doing. parley—An occasional small line of Cape barley comes to hend, and is easily placed at current rates. , Ryegrass—The autamn sowing is now past, the market is much easier, and is likely to remaiu so until the- spring sowing commences.

Potatoes are not so firm as last week, owing to importations. Auckland reports that Melbourne shipments aro arriving in good condition, and at less money than southern quotations. In stock thero is practically nothing to report. DUKEDIN. (SPECIAL TO "THE PRESS.") DUNEDIN, May 17. The deliveries of wheat aro beginning to ease off considerably. From present appearanoea it looks as though most of the wheat is in the hands of tho millers. From reports received from the threshing mills in several districts have finished their work, and "pulled in." There is a good deal of wheat yet to offer from Central Otago, owing to the fact that they are unaM© to obtain hands to man tho threshing mills. Oats aro easier than last week, owing to the lack of enquiry in the North, whero most of the buyers are marking time, as they are now working on their stocks bought at lower pricos. Potatoes are weaker, and considerable offerings are being mode from Canterbury at £6 to £G 5s on trucks. % ery few of these coming to the market are prime, most lines being more or less scabby and blighted, as well as being badly graded. The chaff market ia very weak, and S lutted medium quality. There is no demand from the Coast at present rates, as prices are expected to ease still further.

BLENHEIM.

(special to "the press.") BLENHEIM, May 17.

For oaten sheaves in tho stack £6 itte per ton is still being paid to farmers. Cuttingis proceeding, and the wharves are holding lar4 quantities for shipment. Seed oats, which are imported from the Somh. are being sold to tho farmer at 6s to 6s 6d per bushel, and aro being extensively sown. There is no change in the ■wheat, and little or no business is yet bein, done with hay. Small stocks of ryecorn ajo held by the local merchants. _ kucerno "f. is coming forward on the basis of Is to growers. Threshing operations ha\o bwn proving during the tot few days, fine weather being experienced. Tho , duction will be considerably less m vious seasons, mainly on account o:f . growth. The' quality of the seed » fa*to good. A decline has occurred in the prices paid to the farmers for white closer^and co 't~ss seed, the former being dealt wi:n a* as 3d. to i per lb, and the latter at Is^^d to Is 6d, according to quality, lb p arc not all dug yet. Mos. of Q Ve rs more or less affected by blight. Urowe are teing paid £4 to £6 per.to?. no difficulty has been expenenc d - ing tho necessary labour for wc u contracts for pea growing , ox . filled. The list is tensive one, and a record and pr duction is hoped for.

AUCKIiAISD- . (SPECIAL TO "THE TRESS.' ) AUCKLAND, May 1.. After a long period of f prices, this week has brou o lit Pj uce _ reaction in several lines of south , .PJ Better shipping facility ha™ nabled. than tho usual amount to axn e > a-u, business from the wharf is reported. The southern potato market is a . from duo no doubt to the reduced ina £"J w t er northern consuming centres v. local Stocks have now accumulated. -ine iwquotation is £10 to £10 10s, e animation, the market does not show much animation, even though shipments in J ut "T c . ably be limited by reduced shipping 111 tie! on the coast. A little £ ready set in for early vaneUes of seed pota

The onion market a a 3 the the stronger tone appears just wed by tne probable difficulty in obtaining 6U PP h ;,r® only likely source is Australia, space has been exceedingly hard to 66 lately. A fair amount of cargo has brought to southern ports, but Auckland goods are still delayed in Australia. The oate market is weaker everywhere.

Southern shippers are Bhowlng a bold attitude, which '.he short harvesi appears to warrant, but against this there is goi entire absence of demand. Prices have accordingly | given way somewhat as compared with tnj extreme quotations ruling lately, but no tangible impression has been made on tho total cost of horse feed, and this is limiting the consumption to actual requirements. Each year sees the trade in oats falling away be- | fore the advent of motor traffic, and the end of this movement is not yet. Tbo few sales taking place locally are in small lines at about 53 7d, ex store. The autumn trade in eecd oats has been rather disappointing as it was thought at first that farmers would eet a large area planted m ca6o tho winter and spring should turn out wet like last year. Under the circumstances the price has Leld up well. ... • j A heavy demand is being experienced lor oatmeal and all descriptions ol rolled oats. This is quite usual at this tune of year, but this season supplies have been very irregular, and at the moment several brands ot local and southern are unobtainable. Mills are well supplied with wheat and are gradually overtaking the flour orders that had begun to accumulate. Fowl wheat is scarce. The matter of importation from Australia cannot be settled until the authorities arrive at a decision regarding the all prevalent weevil. In the meantime importers will not take the risk of importing, even if space w<Jro available. Small lots of bran and pollard from the sotlth are supplementing ijio local market, but supplies are still inadequate to meet the winter demand. The chaff market is now much better supplied from both Marlborough and Canterbury, and heavy deliveries are taking place. Quotations in Blenheim indicate a very firm market, but Lyttelton shippers are easier. Tho quotation remains at £12 10s, ex store, but many buyers have taken advantage of the saving in charges by getting delivery direct from the wharf. _ Stocks of Australian maize are ample lor requirements, and the quotation is unchanged at 7a Gd, ex store. Coastal maize is badly wanted, but very little » expected till the npw grain is ready in another month or two.

GENERAL 31EKCUAND1 ?L\

No event or movement of particular important has marked tne busmess ot tne week, though mcrciianls and importers in all departments' of trade are experiencing in greater degree diuicuity in securing the luliument o£ orders, caused by leascnetl production and scarcity ot Ireighus. in connexion with tho latter factor, liowever. sojio unnecessary seems to be lelt. fcaquiries from authoritative source® do not justify the fcelier expressed in some quarters tnat all tho iiners in the Aew Zealand trade aro to DO taken off and used eisewhero for several months. Advices generally from Home show no change in ton© regarding the ©feet of tho war on th© export traae. 1 rices are sull advancing, and while it 13 becoming ncxeasingiy dimcult to get many I""*, th list ot tfcose that are unobtainable at all grows with each mail.

HARDWARE

Tlierc is little change to report as far &3 the trade's activities are concerned. j , Recent mail advices arc to tho cfi-c. tna. shioments on the water, borne o! these are now almost hero, and as the> comprise general lines, hardware merchants .- should experience some relief. It is easy connexion to see tlio difficulties of duP®"* to which we Lave referred. In almost every caso about halt o£ the goods Beat ao*n to the 6teumer are shut out. It is understood that one s-earner is due carlv from the United Slates, ilost of our heavy line's now come from America, so one may presume that such staple goods as wire, nails, black sheet, pipe, etc., wi.l form a considerable portion of her cargo. In adaition, it is understood that two more steamers are \o "o on the berth for New Zealand, and a* quite a number .of sailer shipments are already on the way, stocks should to some extent recover. . « . The Horn© authorities are tightening up the regulations covering export licenses, and many indents for which it was reasonable to expect shipment, have been either reduced by one half o r cut out altogether. Australia seems to be forging ahead with her manufactures. Paint fotonce are quite a big thing, the Sherww, Williams Co. be- ! ins the latest to commence operations. In Kew Zealand,the same_thing_ applies; for instance, a Dominion Brm i? turning ou. i churns, better and cheaper than the imported article. The high prioes prevailing have helped these enterprising firms very much, but it is a moot uoint if even a serious fall in the markets would put them out of buaineßS' textiles. Steady. Quiet business has been the experience »- to soft-goods trade this week. Ship-

xnents to arrive ore still showing continued advances, even as compared with prices ruling two or thr<sa months ago. borne interesting light is thrown on the situation at Homo as regards cotton goods by a letter received recently from a large Manchester -manufacturer, who is -also a member of tho official Cotton Control Board. Writing on March 7th he pronounced tho situation, to be distinctly worse. It was impossible to see any distance ahead, but everything pointed to still greater scarcity of both cotton and goods in tho coming months. The tonnage question was still the great factor, and tho amount available.for the import of cotton during the summer months was likely to bo considerably less. "The action yesterday of the Liverpool Cotton Association in prohibiting transactions in cotton 'futures' further ahead than July is very significant; it is regarded by many as an intimation that the Government can make no promises in regard to ships later than that month, and that the Association wish to discourage business which may be quite impossible of execution. It is pointed; out that even if- the : shipping problem were solved, or eased, the difficulties would'not be at an end/ for the newcotton - crop prospects are not satisfactory just now, and there is said to-be a scarcity of fertilisers' and of' labour' in the cotton States, .while .tie American Government is putting pressure on the planters to grow more foodstuffs instead-of cotton. These factors are making manufacturers vory uneasy as to the next crop, and as that -Hall have to last them.until Novomber, 1019, with the possibilities of peace in the meantime (and all that that' means' in roclothmg the Continent of Europe), it is claimed that there is every reason for anxiety. "On the whole, I can see littlo chance of cheaper goods, and in spito of the present high pnceo, shou-d tho next crop b c no larger than the last, very considerable possibilities in the other Another London correspondent reports that in conversation with the represenative of Messrs Findlay, the latter stated that he fully expccted that m five or six months | time their production would cease. If, he adds "this is the anticipated condition by oho of the most important cotton manufacing companies in the country, it oot irnipTo'oable that others will be in the same shipments of certain Manchester goods, such as sheetings, quilts etc., will Sot be finished as previously. AdvieesßUto that bleachers and--finishers must now apJply for licenses to n«o starch intended for this purpose, and the Government-has cut down the allowance of starch to 50 per oe t. ■of the quantity used'last year. . The British Governments restrictions on the "use of jute are also affecting the carpe manufacturers, who have now to siderably tho weight m the backs of carpets, which will consequently" be lighter and lee 80 En "lis h" makers ' of hosiery and flannel goTd/ arc finding a yarns from tho spinnera. whose mills >ave in several caeca been re<!Ui 3 itioned for the production of yarn for war purposes. It wa» croected that when , the next allotments of wool wero made (in April) the •would show an increase of Is 6d to -s per

and handkerchiefs arc advancing in urioo and becoming hard to sccure. In the case of handkerchiefs this is apparently on account of the British Government prohibiting the export of cambric Tho London representative of a Christchurcn house, referring to this matter, says that tho | Zurich manufacturers' Control Board, on behalf of embroidery and handkerchief manufacturers in Switzerland, undertook that no British cambric ehould be exported to enemy countries, except as embroideries. CCTtaxn manufacturers, however, got behind this a<reement by embroidering a few dots on piece eooda. which thev sold to enemy countries aa embroidery. _Henco the stoppage of export from England. Linen handkerchiefs arc stated to be almost unprocurable. GROCERIES. Reports by recent mails regarding additions to the Iwt of articles which may not be exported from Great Britain confirm the remark of one local importer anything you can cat cannot be exported. The list of course include a number o non-edibles. Candles are among them, but one well-known British firm of manufacturers haa aought to get out of tho difficulty caused by the Government embargo by sending on its colonial orders to its in Caps Town, which it hopes will be able to supply what is wanted. Local manufacturers can, however, meet the requirement* of tho local trade. , -r, • It is rather singular that though no British cocoas are being received, consignment* of Dutch cocoas are.still coming through from Holland. Washing soda is still in extremely abort supply, eomo manufacturers being unable to fill ordure.

The first of' the new season's Mildura oar* rants camo to hand a few days ago. The sample is of fair quality. Fiicss show an advance of 2{d per Jb on last year's closing rates, which advanced- something like 40 per . cent, during the season. There is no immediate alteration in tea, bat the fact that packers have notified customers that they will only book orders <m condition that the buyer pays the price ruling at the dato of delivery, is regarded as indicating a coming rise. Supplies Of several popular brands of tobacco are limited, and several well-known lines of cigarettes are practically unprocurable at present. The price of cream of tartar firmed during lost week. Merchants have been notified that no supplies of a well-known local baking poyrder will be available for three weeks, owing to shortage of raw materials. Cheap cornflour advanoed three farthings owing .to.the:increased- cost of manufacture. Wax matches ate etillhaid to get, as has been the case for months past, and the demand is oon.tim).ally overtaking, the supply. Some Italian matches on the market aro of good quality. The Japanese are pushing their safety matches, of. which some brands are as good as the best Swedish, and othere are not, by a long way. I JUTE GOODS. | Latest cable advices from Calcutta are that -the market ..is . very firm. Colonial | firms. engaged in the trade are experiencing great difficulty owing to the ahartagp of shipping space, and in arranging exchange, Indias large import trade usually countorbal- | ances her exports, but at present she is importing comparatively little, and the rupee, which used to bo quoted at Is 44d, is now Is 6 7-lGd. So far, however, as Now Zealand is concorned, all buying has been done up to the November-December steamer, and' practically everybody is covered. The boats leaving about the present time and in two or three months will bring woolpacks for th« next season. Strong 'enquiries are alreadj being made for March-April shipments. EXCESS INSURANCE CO., LTD., OP LONDON. At the, twenty-fifth ordinary general meet* 'ing of the .Excess Insurance Co., Ltd., . held at Boyal Exchange Buildings, London, on 28th February last, a final dividend o"f'< 15 per cent, was declared, making 25 per cent, for-the year, and £1,249,863 was carried 'for* ward to 1918 against unexpired risks. Tho premium income amounted to £2,451.000 for the 1917: underwriting account, and the total assets *now amount to £2,152,660.— J. SeadGowing, Attorney for New Zealand, Christchurch. | 1 CHBISTCHUBCH STOCK EXCHANGE. LATEST QUOTATIONS.

YESTERDAY'S BUSINESS ON OTHEB EXCHANGES. , (press association telsgsahs.) • WELLINGTON. SaleWaipa Collicriee, 17a. AUCKLAND. galea:—Bank of Now Zealand (old iaatt& £13 6a; South British Isaunuwe, dart-Parkar, 89a Odi Colonial Buxv (Fiji iuut), £20 7a Cd. j

Buyers. - Seller*. £ a. d. £ c. d. BANKS— - ; National .. «• — 5 6 0 Union ; • •• ... 66 0 0 . — CEMENTS— Golden Bay .. *. ii<t *" 10 0 COAL— Taupiri (ex div.) •• — < .0 19 0 Wcstport-Stockton 076 080 FINANCIAL— National Mortgage .. 4 0 0 •— INSURANCE— Farmers* Co-op. Aaan. (pref., 60s paid) .. — 8 13 0 National (cx div.) w <t — 2 19 6 MEATS- • , „ fl.Z. Refrigerating .i —* 1 19 0 SHIPPING— Huddart-Parker •' — SOB Huddart-Parker (6 per cent, pref.) •• — 113 WOOLLENSKaiapoi — 7 3 8 MISCELLANEOUSBooth, Macdonald .« — 0 19 9 Colonial Sugar 21 10 0 Colonial Supar (Fiji and N.Z., pref.) - » I f . DJ.C. (6 p.c. pref.) .. — 10 8 Manon, Struthers (£1 paid) •• ..130 TN.Z. Consolidated Dental (cam div.) .. 15 6 «"• N.Z. Drug Co. (JE2 pd.) 3 13 6 3 IS 0 Papuan Products »*< 0 2 3 — Weekb, Ltd. .. 6 13 0 r-