COMMERCIAL.

Press, Volume LVIII, Issue 17394, 3 March 1922, Page 8

COMMERCIAL.

BROWN COAL BY-PRODUCTS.

(SPECIAL TO "THE FBESS.")

mVERCAItGILL, March 2.

Every day for a week there is being held in the premises of Messrs Booth, Macdonald and Company a demonstration of a retort suitable for the extraction of by-products from brown coal peat or shale. The extractor is the invention of Mr H. M. McLeod, who designed one on similar lines during the war at the request of an Admiralty official, this being the time when the greatest difficulty was being experienced in getting oil supplies to England, owing to the activities of the U-boats where tank steamers were concerned. Mr McLeod made a peat retort which greatly pleased the experts, but as The idea of bringing ovl into the country in the water ballast tanks of cargo-carriers proved wonderfully successful, it was never necessary to depend on supplies from within Britain. , The retort on view in Invercargill is the continuous type, and, according to Mr McLeod, is much to be preferred to the intermittent types, of coke retort in use in England. He Rtates that the coke-oven type takes from eight, to twenty hours to treat the coal, while in his la'test invention the coal is under continuous treatment, which increases as the heat in the retort increases. In the demonstration plant on view the coal passes completely through the retort in under ten minutes, reaching a temperature of 400 degrees Centigrade, a temperature that can be easily increased. To-day a reporter was shown about 50 samples of cldths that have been died in different colours by one of the extracts from Southland coal tbat were treated in the retort. The same dye was used in each case, and the variety in the shades and colours is attributable to the difference in the materials and the times of immersion

Extracts that are to be seen pouring or trickling from the taps are nnpthn, alcohol, benzol, paraffins, lubricating oili and greases. ThX». demonstration was opened yesterday, when the Mayor referred to the ifHportance thnt the succpss of the new industry would be to Southland and the rest of the Dominion.

SOLDIER SETTLERS' MILK CHEQUES. , .' (PTtESS. ASSOCIATION TELEGRAM.) . WELLINGTON, March 2. An official statement was secured to- ■'■' day regarding the right of,the Lands :.->; Department in respect of the Depart- : .ment retaining portion of soldier set-, : '.^:.\;fclers'; mills cheques. If the soldier- '■:■-■■■ is in arrears of rent, the D'e;;piarlmerit has power under the terms of / t bill of sale to compel the farmer" to ;;>,: '■":■■ ';;«aiewt6- an v agreement requesting the to retain ;all or farmers' milk cheque. If K%: ;: .i.tKe wfoolo of the soldier's milk cheque *:', ';' ; '\ is'retnined; bythe factory manager on ;>'-' ; Department, the per month out of ii for household moreover, any farnv ?JfV'ift?''■ accjoiunta: will be: settled by the Depart-* fe^^,nsut:->tS;the 'margin available.. The p?|E?3fpJtiSn'K'ofSthe?M^qne : to-be retained i^^;S!^^■^^^fs^^■ : .W ,u^e0^ ■ is first 'of »U supervisor, who bases S^^^lS^JiSQ^J^W** l *^' 1 =-iaaaaotijili of ar-P%Misr^^^t^-,ability. off the the f#|#^^pcnie^,-prtep6cts'Vofifcueeess. This, fraeby the-;local 'Land J ; Board, after diie consideration. When per cent, of the ;*;'■> : chctfue, thewhole case is referred to the £X*; ; >; viead office far the Minister's decision. |ff Ii.:; ■''.';: COCKSFOOT HARVEST... \. Bon's ; Bay ;• coriwspondent. ■■■years since such a lone*4S\f has been experitiie commencement, dull, showery, has i^^<-IB^tt™'^^-'^.i>^-'.i^n6t^Deen>for' bags of excellent seed For days and |#| ;^tM:vip^do^fcrv-when.i. a .slight -breeze : '-being |p|§vi&Mer«; ; are -jrefyi «wv=good •• freshing ; ana' week's '^eiweather' - ;■ ■ aad NX Cable A«c^.^^ "^JBO^ I '-*^ 9 ' :■, between'.Ww. and tlw pSß^'iriffitfal , 'anthori^^^ 9|p; r rThe Commonwealth'heretofore State is ||g itfffisir : tKe butfor :pe*nut'.'expprt. concern' in but ': : v'V '■'■"■■ '• '■'P^ ■. Wfe|p^P^^EW:.YOß^ ; Marcli-i.:,:. STOg||l||!e-Dmptt;:Riea4;.;Com with a heavy overP^^^^l^S::;^^^ : - ; in; ;the;-vjlJnitel'-\^ooliSES^\^ ; v.V;''' : '-; llltlll^^ iW<S <3om P <i,i y ; °t 2ealina made a profit »fe£B33mi!)i paM an> ;diTidend ■of Ibv6d.v'per r sharoi' "a S^ippP' sostainetl- %%tb»"C>Rnin<H&'' tiie loss is by maintaining the «^; ;; ,t«*alFpxK»'at6d tiU 1923. " r Council passed "a resoldtloa increase in the> price of etigiir ■ s is neces-, is Government that tha will be renewed

CUSTOMS REVENUE. LATEST "GAZETTE" nOXJEES. (MESS ASSOCIATION TJXIBHAII.I "WELLINGTON, March 2. For the December qoarter last year the Customs revenue cf the Dominion shows a falling off of £1,085,458 as compared with the December quarter of 1920. For 1921 the total fall in Customs revenue was £2.282,762. Excise revenue, on. the other hand, shows an increase for the December quarter of 1921 of £3i',6S3. though the increase for the year was £7735 only. Customs and excise duties collected at the 1 four chiof porta and in the Dominion as a whole for the quarter ended December Slßt, 1921, were as under:— CUSTOMS DUTIES. Dec. onarter, Dec. quarter, 1921. 1920. £ £ Auckland .. 353,173 533.2P5 Wellington .. 352,570 637,13^ Lyttelton .. 153,737 390,7=8 Dunedin .. 119,566 284,694 Dominion total .. 1,104.489 2,192,938 For the years 1921 and 1920 respectively the Customs revenue wag as under:— 1921. 1920. £ £ Auckland ..1,757,131 2,223,469 Wellington ..1.089,888 2,588,474 Lyttelton .. 866,415 1,269,057 Dunrdin .. 640,035 993,642 Dominion total ..5,671,715 7,953,477 Excise duties for the December quarters we-.e: Dec. euarter, Dec. ouaiter, 1921. 1920. £ £ Auckland .. 35,770 22,650 Wellington .. 19.753 29 ?95 1 Lyttelton ..' 23,520 14,796 Dominion total .. 153,507 118,874 For the years 1921 and 1920 the excise revenue was:— ■- b 1921. 1920. x £ Auckland .. 95,836 83,947 Wellington .. 74,888 ,100,906 Lyttelton .. 62,798 56,873 Dunedin •.. 125,199 • 111,821 Dominion total .. 451,197 443,462 LOCAL BODIES' LOANS. (PKESS ASSOCIATION TELEGBAM.) WELLINGTON. Mar-h 2. Consent has been given, for the raising of the following local loans; Palmerston North Borough Council (extending and duplicating sewerage system;, £23,000. Palmerston North Borough Council (purchasing additional 'buses and plant, etc.), £10,500. Wairoa Borough Council (electrical works), £9OOO. Knwakawa Town Beard (water Bupply), £BOOO. , . , The following, increased rates of interest are prescribed:— . Sis and a half per cent.—Auckland Suburban Drainage Board, £25,000, for drainage works; Otago Harbour Board, £205.000, for renewal of loans; Christchurch Tramway Board, £35,000, to provide the difference between present-day and original cost of renewing portions of the old track. Six per cent.—Dunedin City Council, £270,000, for street construction. The term of the loan ia reduced from 30 to 10 years. I

SIX PER CENT. P.O. BONDS WITHDRAWN. Post Office 6 per cent. Bonds have been withdrawn from sale as from the end of February, and will be no longer on issue Xesterday the only bonds on sale were for Simper cent, in denominations of £1 and £lO. ■"' j WALL STREET PAILTJBES. NEW YORK, Matcli 1. Two more "Wall street'" firms of brokers hav» making- a total, of sixteen in lees than a week. V (Received March. Sad, 11.80 p.m.) NEW YORKr March 1; Four ;more brokerage firms have collapsed, making 28 failures since February Ist; ')'■•'■ -.SHARES. . _..,■:._• .■ " (By Cables-Press:: Association—Copyright.) (Australian and N.Z. Cable Association.) LONDON, March 1. P. and o.' <deQr-Buyers £810; sellers j£S3O. Dalgety and Co., Ltd.—£6,7 lus. • ; THE WHEAT sNtAKKTiT. ■ -, (By 6abi»—Prew Association—Copyright.) (Australiaa an 4 N.Z. Cable Association.) LONDON, February 28. WSoa.t circoee aw firm despite lower Americanadvices. , The demand as still fairly active at ; about sixpence advance. Cargo sales reported-.are:—Ethelwolf, 69b; Baron Polwarth. 69s 3d; -6000 tons per Viotfcriaß': ete'amex, April 695. Quotations for cargoes afloat axe 69s «dj and per eeilers, Tlfto 62»? 4 April delivery, 60s. ; Parcels axe firm and have advanced sixpence. (Received 1 . March 2nd, 11.4S vju.) '::.^■■)■;■■. :■••/■'.... LONDON, March 1. Cargoes closed easier; buyers being unwilling to 'add to their stocks. ■ ;.- The parcels .market is quiet. The business ;done shows a fall of from 6d to 9d. ; Cargo sales include Mandalay and Aus-tialio'SSßj-Olensanda and Maresfleld 69a Bd. Parcels—Demosthenes and' City of Norwich 59s Bd,; Australia,!! afloat. 60s '

; 2nd. 11.45 p;m.)" . V '.V;.-.: \ 'LONDON, March^l^ ' 'At .the tallow sales 1764' casks were offered and .688 were sold. Prieee were unchanged. - ~ Stocks—Bßol ■ l clinks,- imports 2542 casks, deUverles Bffi3 casks.

AUSTEAIXAN MABKETS. ' 2nd. 10.80 p.m.) '■'. ; V-;■: ■'.-.,■ SYDNEY, March 2. ' Oats—Algerian feed, 'ocal 3s sd, Tasmaalari "8s Bd> white 3s 11* to 4s. Maize—Yellow -5a 4d -to 5s sd, white nominal -6s 3d. ' Potatoes—Taamanion SB 10s to. £9 lft». Onions—Yiotorian £lO 5» to £lO 10s. _ ADELAIDE March 2. Oats—Paxcefa ,2s lOd to Ba.. PEIOE OP WHEAT IN NEW SOUTH ;; ,%AiiEs.-;; '': .■•:•'•' • (BeceivedMarch_2nd. 10.30 p.mj .;'::. SYDNEY,; March 2. The' voluntary Wheat pool has announced further, advance in the price of wheat of M a buehely. bringing the;price up to 6s a bushel. ' HAWAEDEI?; MAESET. At the Hawssden tale yesterday about. 3200 fat lambs, 600 fat ewes, 50 fat wethers, and 1000-store «hcep and lambs were yarded. The freezing buyers operated freely, nnd fat lambi made ( to 7d 'pxr.lb. The-range of prices' lambs 21« to 235. lid, -medium weights 18sto 20s lOd, light sorts 16s lid to 17s 9d,' prime ewes 13s 6d'to 16s Id, medium lis 7d to 13d, light "weights 10s to He, vrethero 17s to 20a. Amongst the sales ■were:—" '.

.Ljmibs—Por J., Cowie, 195 at 19s 7d; T. Green,vi2B*t 18s 6d,i26 at 21s; T. Hobbs, 32 at 19© lOd; J. .Beadv, 13 at 21s 7d; J. I Bontly, 15.at 19s 8d; B. Black, 56 «t 20s j .6a^,lo ; at'22s"4d". Mc6«wan'Bros:,*44 at 19s I UdrHrH. Brboker, U at 20» 21; J3nniinp, | 9 at 28s lid; T. Halt, 70 at 18s j P. Butler, 79 *t 17s Sd",'S. L. Boon.. 105 at.'lßs sd, |P^' : ;3!;?".''J.M'i: ; -R." , 'W'right.-''-X72. e.t.a6s lid: T.' Qemmel, Wat 20a, 22 at 18s 4d- E Hf*^, 28 ;?* 2d; X W - 5 at Sis lOd; Mrs Gray. 25 at 18» 54- H. M. Carr.Jßl,< ; at 16«;9d; f8 at l«s;0,. Doyle 18 atai^Sd;'Pilcher Bros.,'l9»t 19s Id- T Oostello,;68 at 20j, lOd; W. CYL. Blake' a7a;at,l9s 10d to 21s 4d: E. W. Mehan 18 A.-Telfer, 164 at 20s 4d- Jal Butler, SB,at 21a 2d; F. VT.C. an 3 P O Eukey, 79 at 20*. M at;2o« lid- A. Shield*' 87; «t 21s; J. McHugh. 38at;20s; Mts P llasxm,-70"»t 10p 6d; Mi* Dron, 46 at 3t* 7d; B. L. Hobat».;:3Tot lftr> D. Loncey, 20 lat 20s Id: A. Blsck; 65' at 14a id, 60 at J< Croft,-18-at 20s. ' ; 'fcEwesT-D. Green. 21 at 13s 103. 8 at 17s: H >H. Brooksr,, 17 at lis 7d: T. Ball ifl jatTias 4d; Onre Estate. 4 at 18s 4d-; H. inches at lis 9d; J l . Costeßo. 62 atllrld:R.^rishtv POrat 10s 7d: Mrs- Gray, 4 at m WdMvDoyle, 5 it lis; Pilcherßros, 1 16 at 18s 6d;:"2s:>t \V» Id: T. Costello. 74 Cj '<• 3?; ■■ Gi T. Baker. 49 at 18». 72 at 10a; E. W. Mahaa, 20 at 18s 6d; A. Shields, 6 at ,aßf W; ,R. N»- ? at':t3s ; -10d7" ;; -- :; "^' ; -""'■■•' '■■ '■"; •'-.-' "'■' •" : 2

-Wethers—s. Piercy. 80 at 17a, lat 90s; '. The storta »W at ruling- prices.

CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. Sal« reported:—Bank of Australasia, £ll 10s. Sai«- on 'Change:—Soldiers' Settlement Loan, 5J per cent. Inscribed 1533, £94 10s. LATEST QUOTATIONS. ■* Buyers. Sellers. £ b. d. £ s. d.

INVEECABGILL STOCK EXCHANGE. (JIPZCIAI, TO "TUB rRBSB\") INVEECABGILL, March 2. Sales—N.Z. Coal and Oil Co., 2a 6d; Wai jjouds, 1930, £92 2s 6d; 1938, at £9O 10a; Scldiors' Bonds, £94 12s 6d.

AUCKLAND, March 2. Sales—Soldiers' Bonds and Inscribed Stock, £94 6s; New Zealand Inscribed Stock (1938), £9O 6a; South British Insurance, 82b 9d; Buddart-Parker,-42s 9d

QUABTZ CLAIM FOB SALE. , The ' Maoriland Gold Company's special quartz claim of 100 acres, situated at Waitekauii, together with the battery and plant, is in, the market, reports the Waihi "Daily Times." It is many years since the area was first taken up by a syndicate, mainly of Waihi residents, and floated into a company. After being -worked for some years with varying success, the company was reconstructed, and carried on operations till the ww period, when costs became so high that protection was Bought and' granted. Shortly-prior to the . granting of protection anew, body of quartz was discovered in the low level, and a trial crushing of upwards of 100 tons of ore disclosed a value of rathor over £3 'Bb per ton. In the earlier days some rich patches of gold were discovered, and during the company's oaieer many thousands of pounds worth of gold .came from the" property.

TUtfAEU GAS, COAL, AND COSt COMPANY, LTD. The forty-seventh annus! general meeting of shareholders in the Timaru Gas, Coal, and Ooke Co., Ltd., was held on the 27th ulto., when the '-report and balance-sheet for the year endled December -81st, 1921, was presented. The report stated that during the year "business steadily the number of consumers increasing by 98, but that owing to the continued, high price of material the laying of mains was restricted to extensions absolutely necessary.- The net profit for the year, amounted Jo £6280 Is Id, mak-' ing with lie balance of £1617 17s 6d brought forward from last year a total of £6797 18s 7d available' for-, appropriation. A dividend of ,10 per cent, for the year absorbed £3500, and the sum of £1857 12» 5d jwas written off for depreciation on plant and' meters, etc., leaving a balance of '£2440 6s 2d to be carried forward. The paid up capital of the company is £25,000, and the reserve accounts total £29,965. •■ , Year Net. Dividend ended. profits. Kate. Amount Reserves. '. £ £ £ Dec., 1918 .. 2247 8 . 1972. 29,757 Dec., 1919 .. 8856 111 2875 29.9P8 Dec., 1920 ' .. 5244 12 8000 29,883 Dec., 1921 ■ ',..' 5280 10 2500 29,965 MARLBOROUGH "FARMERS AND SHIPPING. : 'Marlborough farmers, or some of them, are apparently not at all satisfied with shipping is.to and from their provincial pcrts, for' Mr E. 'P. Goulter, speaking at a meeling'of the Provincial Executive" of the Farmers' Union in Blenheim recently, says on exchange, the purchase by the farmers of the province (as a company) of four scows to carry their chaff to Wellington and Aucklr«d, and; thus save a "penalty 1 ' of £1 on. every, ton sent away. The scows should be. fitted with auxiliary power, burning crude oil for preference, and two should run to Wellington and two to Auckland. The Wellington boats; he reckoned, carrying 1500 bags, might earn_£7s each per trip, or £6OO per month, whilo the .working expenses, wharfage exclusive, would probably work out at about. £250. The, Auckland vessels would reouiro to capacity of EOOO sacks, or 200 tons each, and would make five trips in two months. They,_wonldi be a success, he. coirsidcred, at a freight of 85s per ton. and tlio revenue per vessel each trip would 11 be £350—£1750 each for the five tripe. "Working expenses, _ again excluding wharfage charges (information as -to which, yrsa not then available), would bis about £OOO, and thus each vessel would, earn £llsO each two months to cover wharfage, maintenance, etc. The two Auckland scows would have 12,000 tons, of produce to ehift each year THE OYSTER SEASON. r .'The iWeaur Strait oyster season ooened on Wednesday, but owing to "an easterly 1 gale, which set in early in the day, the osrter boats were forced to return to Bluff before their work was. completed. Oysters were therefore in. short supply, and local fish merchants found difficulty in fulfilling, orders, which the far-seeing, ones had sent in in order to make sure <>f sanroling the first cf the season's supply (says the "Southland' Times"). The oysters are in excellent condition. WAIHI CRUSHING RETURNS. . AUCKLAND, March 2. ■ In twenty crushing days, ended February 18th, Jhe Waihi Company crushed 12,661 tons of ore for a return of 87510z of gold and 13,5800z of silver. In .the last corresponding period, 12,830 tons yielded 34720z of gold and 20,9710 a of silver.

SOUTHLAND FRUIT AND PRODUCE MARKETS. ISPECUL 10 "THE PBESS.") INVERCARGILL, March 2. Extra heavy supplies of fruit have reached the market during the week. Tomatoes, especially, are in over supply, and are selling at low iaie3. A shipment of American oranges and lemons arrived on luesuay, una xi&rotoiiga uajiunus io-day. The pea*«i coining lorward are inOi-.y over-upc. r<-i----lowui;; iie M* approx-xiiato wnoiesaio p'ncus:—-Apples, Stunners, ex cool sto/e, M 10 t>3 l>«i' case; now eeuson's 'Scarlet ±"crniaius, Us to lis Gd; Worcester x'erinams, »s to lis; cockers, 6s to 7s; peais, hajtcasas 2s 6d to as, busnels 6a to t»; peacließ, crated 3d to 4d, case 2Jd *-o Sid; apricots, S*d to 41d; plums, jam lid to 2Jd, desserts 2Jd to 4id; nectarines, 3d 10 »"'■ grapes, Black Hamburg Is 4d; tomatoi*, Kekons 3s to 5s per case, Canterburys ljd to 2Jd i>er lb, Central 2Jd to 4d, local hothouse fid; bananas, 12s to 20s; American oranges and lemons, 45s to 50s. Oats—The fino weather bos brought on the harvest very rapidly, and there is now very little crop in Southland that has not bten cut. So far no new oats have been on offer, i but several parcels of old have changed [ hands during the past few days. A heitvy line, suitable for milling, ra sold at 2s 4»d, on trucks, but it is expected that prices Will ease a little when deliveries of new grain become general. At any rate, forward sellers have recently been quoting 2s lid for 'B Gartons, f.0.b., s.i., for delivery AprilSeptember. ~-,,.. Chaff—The market is over-supplied, and it is difficult to make sales of any magnitude. Prime quality old is still nominally worth £3 10s, ou trucks, but it is difficult to find buveTS at the equivalent. Potatoep—There is an easier feeling about this market, for evidently there are more poUtces available in Canterbury than was at first thought down here. Potatoes have Veen offered "at from £3 5s to £3 10s, on trucks. Ryegrass—There has been a good enquiry, and'purchases have been made from farmers at from 2s 3d to 3s, and even higher for special sanrplas. The seed this year is bright end clean, but it is not very weisrhty. Merchants do not seem too anxious to follow farmers' ideas of rvalue, evidently belioving that prices are higher tbr.n is justified by the prices obtainable for dressed seedi. There appears to be a large area saved for seed this season, and it is just possible that prices will ease when tho flush of deliveries occurs. .. ~ . ..-I Hemp-Tbe market, if anything, m rather easier. There is not much offering, but on the other hand twine millers peem to have enough to meet their immediate requirements. &cod fair is worth from £BO to £3l on trucks, hut fair and high fair are difficult to sell.

PROPERTY SALE REPORT. Craddock'e Agency Coy., Limdted sold by public auction yesterday at their «»twn rooms, Norwich Quay, Lyttelton, No 16 London street, Lyttelton, consisting of about Vl6th acre with shop thereon, to Mr Boulsen at » satisfactory figure. B

DEBENTURES— N.Z. Govt., 4i pei cent. Inscribed, 1938 89 15 0 95 5 0 • N.Z. Govt. -Ij per cent. Bonds, 1939 89 17 6 90 5 0 N.Z. Govt. 5 per cent. Inscribed, 1927 93 10 0 — N;Z. Govt. 6 per cent. Bonds, 1927 93 5 0 N.Z. Govt-. 6$ per cent. Inscribed, 1933 01 7 6 94 17 6 K.Z. Govt. 6} per cent. Bonds, 1933 94 10 0 35 0 0 BANKS— Australasia 11 s 6 '11 12 6 National of N.Z. 5 16 6 5 19 0 New South Wales 35 0 0 35 12 6 New Zealand 2 7 3 2 8 0 Union of Aust. — 12 2 6 Union of Au«t., new (cum interest) 11 17 6 12 0 0 LOAN AND AGENCYGoldsbrough Mort (Mel.) 1 12 6 — N.Z. and River Plate .. 0 18 S 10 0 SHIPPINGAdelaide Steamship .. ■ — 10 0 Hitdda-rt-Farker 2 2 9 2 3 6 P. and 0. Def. Stock ! 295- 0 o: JC'5 0 0 Union (6J p.c. cum pref.) .. — 0 19 0 FROZEN MEATCanterbury 11 0 0 11 10 0 j X.Z. Refrigeratint (JB1 paid) Wellington (£3 12s £d pd.) 1 5 0 3 0 O 1 COAL— 18 3 Westport — Westport-Stockton — 0 5 3 WOOLLENS- ' Kaiapoi (10s paid) 0 10 9 0 11 6 ; Kaiapoi (pref. re div. only) _ 1 3 6J GAS— Christchurch 6 5 0 6 10 0 BREWERIES— Manning 3 3 6 3 10 0 Ward 1 1 6" — TIMBER— Kauri 1 6 0 — MISCELLANEOUS— Beath and Co. 1 4 6 ■— Mason, Strutters (£1 pd.) — 13 6 Mason, Struthers (14e pd.) — 0 14 9 Mason, Struthers (is pd.) — 0 4 0 Dental and Medical Suoply — 13 9 N.Z. Drug Co. 2 12 9 2 14 0 N.Z. Farmer*' Co-op. (7| per cent. Bonds. 1926) 91 0 0 94 O"0 Whitcombe and Tombs 2 17 0 — MINING— Mt. Lvell 0 13 0 —

Quotation*:— Buyens. Sellers. £ s. d. £ s. d. UANKS- , New Zealand 2 6 6 2 8 0 Commercial 5 14 0 — INVESTMENT— N.Z. Coal and Oil .. 0 2 6 0 2 9 Westport Coal — 18 0 N.Z. Insurance 1 7 0 — Southland Farmers' / Co-op — n v 2 0 0 N.Z. Milk Products .. 1 0 0 V 13 0 Southland Frozen M«at (£1 ord.) 1 8 0 1 5' 0 Southland Frozen Meat (10s ord.) on 6 '012 6 Southland Frozen Meat (£1 pref.) ■..-. i 3 0 — Milhurn Liim* and Cement ' ..■ — Ill 9 N.Z. Drug (£2 paid) .. N.Z. Hardware (pref.)- ' - 2 14 0 0 15 8 N.Z. Paper Mills •• — 1 8 0 ■ Papuan Products ,_■ — . 0 0 9 Greater. Lyoeum *0 3 0 0 6 "0 DEBENTURES— * \- Wftr Bonds (1988 and 1939 .. 90, 0 0 — ■ P.O. Bonds (1927) 98 0 0 — Soldiers' Bonds 95 0 0 95 10 0 Booth, Macdonald., (6 . per ; . cent, prei.) .... — 0 18 (i