COMMERCIAL.

Press, Volume LX, Issue 18015, 6 March 1924, Page 12

COMMERCIAL.

■ ■ ♦ ■ • 'en TRADE FACILITIES. BILL IN COMMONS. fBT CABLE—FSESS ASSOCIATION COPTRIOHT.) IACSTBAMAX AXD N.Z. CABLE ASSOCIATION.) (Received March sth, 7 p.m.) LONDON, Mareh 5. The House of Commons resumed the debate on the second reading of the Trade Facilities Bill, which embodies rhe Imperial Economic Conference proposals in regard to the paying of threequarters of the interest on loans raised in Great Britain by Dominions and 1 Monies for the purpose of public utility undertakings. Mr A. 11. Samuel (Conservative; said that the Government should help TVvassaland, Rhodesia, and certain parts of Australia to extend common tobaceosettlers in Australia they should be warned that they were likely to lose it if they entrusted it to projects under the Queensland Act, 1920. That was a very dangerous Act, and until it was repealed or put on what many would regard as an honest basis, he hoped that Queensland would not get a single shilling of the' £24,000,000 she wa seeking for the renewal of loans. Labourite cries: Financial boycott! Mr Samuel retorted that Queensland ioana were held by small investors, also by insurance offices; and if anything went wrong with Queensland finance the Labourites would feel the loss of their insurance policies more than the banks would feel their losses. Mr T. E. Mills (Labour): Is it in order to refer to the Prime Minister of one of our Dominions as dishonest? The Speaker replied that Mr Samuel was criticising the policy of a Dominion; but that was undesirable in the House.

Mr Samuel said that all he asked the Government to do waa to look askance before lending money to Queensland. The debate was adjourned.

b ARMY MEAT CONTRACT. AUSTRALIAN TENDERS. (BI CAHL2—PBEB3 ASSOCIATION COPYRIGHT.) lAUBTHALIAN AHD N.Z. CAS LB ASSOCIATION.; (Received March sth, 10.5 p.m.) LONDON, March 5. Asked in the House of Commons whether tenders had been received from Australia in tho case of the £50,000 Army contract given to a foreign firm, Mr Walsh of ■ State for War) replied, presuming that the reference was to the contract for preserved meat recently placed with a firm of Argentine packers.

Two Australian tenders had been received, the lowest 35 per cent, in excess of the Argentine quote. He regretted that the Australian prices were too high to permit acceptance.

PRICE OP WHEAT. (PBZ93 ASSOCIATION TELEQBAH.) PALMERSTON N., March 5, At a meeting Eeld to-night of the representatives of Labour Unions and other organisations, it was decided to ask the Minister of Agriculture that no action fixing the price of wheat be taken by Cabinet before Parliament has been consnlted. EMPIRE EXHIBITION. REPRESENTATION OF DAIRYING INTERESTS. Cpbsss association TKLEOHAM.) AUCKLAND, March 5. A conference of Auckland dairy factory managers passed a resolution urging the necessity for the Dominion being represented by a practical dairy manufacturing representative at the British Empire Exhibition, and expressing regret that the Dominion was not represented at the World's Dairy Congress, held in America recently. THE INTERNATIONAL i TRADE OUTLOOK. j AN OPTIMISTIC, BANKING OPINION. In its January issue, which reached us* by mail yesterday, "Lloyds' Bank Monthly" says:— Too much stress cannot possibly be laid on the fact that, trade is more and more international, and that consequently, important as the home position may be, the situation abroad is of equal, if not greater importance. Here again there are considerable grounds for optimism, as may bo gathered from a review of the happenings of the past twelve months, and a comparison of the position to-day with that prevailing a year ago. At the beginning of 1923 Franco entered upon the ltuhr adventure, but by the end of the year si clearer realisation of actualities and economic facts had become discernible. So much so indeed that, in his New Year's speech to the Diplomatic Corps, President Millerand expressed the view that we are about to "salute the dawn of reconciliation and a final peace." Germany in 1924 is apparently making a much more serious effort to recover from her fever than she evidenced twelve months ago, and America is at least giving the benefit of advice from representatives on the difficult problem. Austria has made a most satisfactory start on the road to recovery under the segis of the League of Nations, and peace has been reached with Turkey. Even in Ilussia progress has been made during the year, and it may not be long before she again takes her place in the comity of nations. The progress of the attempt at securing world peace may be almost imperceptible perhaps in its movement, "eppur si muove." Thus, with affairs both at home and abroad giving more hope for recovery than has yet been hitherto shown, there is <unple ground for the King's confidence f that "with God's help, the British, true to their great tradition, will face and overcome those difficulties that still confront us at the close of a decade which, though memorable in glorious achievement, has been beset by much trial and suffering."

SYDNEY WOOL SALES. (Received March 6th, 12.30Vm.) », » , SYDJTEY, March 5. w . 84168 there was keen , competition in all sections, at prices I b t ßt of th ® week - CrossI Sfllba a season's record r

INVERCARGILL WOOL SALES.

HIGH PRICES REALISED. I ASSOCIATION TKLEGSIM.) IN VERCA RGILL, March 5. The second wool sale was held to-day. The offering was only a small one, being about 3700 bales. Spirited bidding from a full bench of ?>uyers kept the sale moving Hie sale was better than the January one, and rises were recortij e<i in all classes of wool. Those vendors who held their wool from the last sale benefited by increases to about 5d in some instances. On© Jot of threequarter bred ewe, passed in January at I.7|d, sold to-day ror 'izu, while a lot of crossbred ewe passed at the previous sale at 15jd brought lSd to-day. Valuations again were astray, and weie exceeded by 2d to 6d and more. A few lots of shpe wool were offered, and these brought excellent prices, Bradford buyers operating freely. Top price was 2&Jd, which -was obtained for 23 bates of first- ihrec-qunrterbred sliped lamb. The better classes of wool were secured by Bradford buyers, but for low<;r grades Continental brokers were the biggest buyers. The ioilowing table shows the advance in prices when compared with the January sales:—

The advances can be summarised as follows: —Merino up to last sale, halfbred 2d better, fine crossbred 2£d better, medium crossbred 3d better, com. mon crossbred 3d better, pieces 2d to 3d better, crutchings 2d to 3d better, locks Id better.

DEAR EGGS. SYDNEY HOUSEWIVES' DEMAND, (fbom a. special correspondznt.) SYDNEY. February 28. With eggß at 2s 4d a dozen, the aggressive Housewives' Association feels that it ought to have a little more say in this direction. There are eggs and eggs, and the housewives think y that they ought to be classified; that they ought to be stamped with the'farmers' names, and also with the marking "Chilled" or "0.5.," to indicate that they have been in cold storage. At a conference between the Association and poultry fanners, traders, and the Agricultural Department, it was pointed out that in winter housewives had to pay up to 3s 3d for eggs which were supposed to be fresh, but which, in reality, had been "salted." In Canada, according to the housewives, eggs are classed as specials, extras, firsts, and seconds. The poultry farmers are apt to blame the grocers or distributors for holding the eggs too long, and the women themselves, for often keeping eggs for some days in a hot place. The attitude of the Department is that if eggs are to be branded, the practice should be universal in all the States. Enquiry into the position is to be made in New Zealand, where it is stated here it is proposed to make compulsory Whe stamping of eggs that have been more than ten weeks in cold storage, and in America, where it is believed the law requires cold storage eggs to be marked.

It was the Housewives' Association that recently caused a storm about the high price of potatoes. There is nothing of the frivolous social butterflies about the members of this body. Anyway, if they have to pay 2d or 3d for an egg, they are determined that they are not going to take home something which, on being shelled, rises to high heaven like uncorked asafoetida.

INVERCARGILL WOOL SALE. (PBSSR ASSOCIATION TKI.EGRAM.) INVERCARGILL, March 5. At the second wool sale, which was held to-day, there was a large attendance of buyers. The catalogue comprised 3700 bales, and consisted mainly of crossbred fleece and pieces. Competition was keen, and the prices represented a definite increase on the January sale of 2d for line wools, and of 2id to 3id for coarse, and up to 2d on pieces and crutchings. The whole catalogue was cleared.

| THE CITY MARKET. Report of weekly sale. Poultry—Hens 3s to 7s 9d, cockerels 4s 6d to lis, ducks 4s 6d to 9s, turkeys lis to 355, geese 6a to 8s 6d eggs Is 6d to Is 7d. Methven copper £3 17a 6d, mow.ers 15s to 30s, meat safe 27s 6d spray pump 16s, paint 16a gallon, graes seed cleaner 50s, 2 riding saddles £9, set harne&s £9, 150 rabbit traps £ll ss,' carpenter's bench 30s, quantity timber £B, Homo separator £5, do. Alfa £3 153, carpet £4, 2 chairs 21s, clock 17s 6d, commode 13a, typewriter £3, eidoboard £6, dresser £2, runner 37a 6d, 6 gents' suits 45s to 50b' oak table £3, couch 30s, 3 bicycles. £2 to £.5 Id), lino 15e to 45s room, wardrobe £4 15a, wooden bed £2 ICe, single bed 45a, * stretchers 12s 6d to 26a, 3 brass rail beds arid mattresses 30s to £3, hearthrugs 10s to 30s, 2 tea seta £2 10s, part dinner set 4os, gramophone £3, bookcase £3 15s, pictures 6s to 258 each, painting £2 103, 2 jardinieres 27s 6d, 3 pot plant 20s, 2 wicker chairs £3 103, settee 555. "We had a splendid clearance, and a large attendance of purchasers, who spent money freely, the sale starting at 11 a.m. and continuing to 4.30 p.m. H. C. SMITH, Proprietor.—6

BRITISH WOOL FEDERATION.

DOMINIONS AND THE MOTHER

COUNTRY

>'SOM O'JB OWX CORRESPONDENT.) LONDON, January 26. Lord Barnby, one of the leading buyers and manufacturers in Bradford of colonial wool, was present at the annual dinner or the British Wool Federation, held in Bradford on Saturday. Proposing the toast of "Our Guests," Lord Barnbv made graceful reference to the presence of Sir Joseph Cook, who was born in Staffordshire and was therefore "one of us. 1 ' Eeealling that Sir Joseph Cook was Premier in Australia at the beginning of the war, Lord Barnby said although it was difficult to say anything good came from the war, yet the coniiiet had a good result iu that it consolidated the Empire and created gooc feeling between our colonies and the Mother Country. In illustration, Lord Barnby mentioned that Australian and New Zealand exServiee men were accepted at his own works to learn the wool trade, and t-wc of them now represented the firm as wool buyers in Australia and New Zealand respectively. The colonies had been of enormous advantage to the Mofher Country, and he hoped the latter had been advantageous to them. He had a catalogue of a sale for May, 1841. showing 228 bales of Australian wool and 36 bales of Spanish wool. The total imports of Australian wool in 1800 were CSB bales; in ISIO. 98 bales; in 1820, 422; in 1830, 8003 bales; in 1840 ; 44,502 bales; and so on. When they thought that from such small beginnings Australia alone now sent an average of over 2,000,000 bales per annum- —it might be a little less this year—it showed them the enormous expansion of commerce which b.ad been created through one of Britain's colonies, and it also showed them that by closer communication what magnificent prospects there were for future developments. Sir Joseph Cook said he was old enough to remember speeches made in the House of Commons by prominent politicians to the effect that colonics were an encumbrance, and advising the Government to cast them off. (Laughter.) One could not think it possible that such short-sighted politicians should exist. It was a Yorkshireman (Captain Cook) who Ifirst pegged out the British claim in Australia. He was proud of Yorkshire, because he believed that the prosperity of Yorkshire spelt the prosperity of these islands and of the Empire at large.

'Too Much Expected from Parliament. It was said that the country was in a bad way. But the country ft as all right. We must look to the humuni element for the seat of all the mischief, continued Sir Joseph. People criticised Parliament very freely, hut if we talked to oursleves a bit and let Parliament alone it would probably do us a great deal of good —and he said that after 32 years of Parliamentary experience. 'loo much was expected from Parliament, and people did not rely sufficiently on themselves. "The one thing we can do in the confusion of the moment is to get on with our business and do our job to the best of our ability "right where we are on our own back doors." \our job in Bradford is to make the best cloth in the world from the best wool in the world, which is of course Australian. (Laughter.) For every £IOOO of wages paid in Australia, goods valued at £I9OB are produced, against £1856 in the United States, and for every £IOO9 worth of raw material used £682 is added in value in Australia against £670 in the United States. Industrial efficiency in Australia is very liigh—and they had learned the business from 'the old folks at heme.' "

People—especially political people—were saying that what was needed was the restoration of Europe, and in this connexion the Peace Treaty of Versailles was often criticised. But as one of the signatories of that treaty, the -High Commissioner for Australia said it was wrongly oondemned today, and was little understood. It was not the treaty which was wrong. It had never had a show, it had never been carried out. The people who talked most glibly about the niischievousnest, of 'the treaty in many oases were the people who knew least about it. Could Europe be restored? He doubted if

Europe could get back to pre-war conditions because it was a very different Europe to-day. Nearly every new Kingdom liad put a prohibition on its trade because it dare not trade with its neighbours. Amid all the uncertainty as to the future the only sure way they could take was to resort to the old fundamental specific-—hard work and efficient productions, and above all they must develop the resources of the Empire.

WELLINGTON PRODUCE PRICES. Wholesale produca prices in Wellington are as follow:—Barley meal, £9 10s per ton; peameal, £9 15s per ton; Farro food, £8 5s per ton; linseed meal (Mooss brand), 18s Cd; limii'-od mits (Moose brand), 16s 6d; meat meal, far poultry, 153 6d; shell grit, la .per 1001b; shelled oTis, lor Thickens, 5s 6d par bushel; mixed fowl feed, 5-sack lots or over 6s, lesser quantities tfs -M per bushel, sacks in; oats, machine dressed seed Algerians 6s 9d, feed Gartons 5s 6d, crushed 5s lOd, Duns 5s 7d, black oats ss'6d per bushel, sacks in; peas, feed 5s 3d; Partridge peas, 7a 6d per bushel, sacks in; maize, whole 7s, crushed 7s fid; butter, farmers' separator and dairy Is 4d to Is 6d lb; eggs, first grade new laid Is lOd to 2a, storekeepers' lines

Is 8d to Is 9d per duzen; fowls, White Leghorns 3s to 3s 6d, Black Orpingtons and similar heavy varieties 7s to 8s per pair; ducks, runners, good 7s to Bs, inferior as to Gs ■ 6d, large white 8s to 10s per pair; turkeys, la. Id to Is 2d per pound; geese, 7s .to 8s per pair; fungus, 7d to 8d per pound; rock sait, 6s per cwt; dressed pork 60's to 9tfs 7d to 7Jd per lb; chaff oaten sheaf, Blenheim prime aright £lO 5s per tun. sacks in: new potatoes, choice whit© 8s to 9s per cwt; bran, J-ton lots or over, £7 ss: pollard. J-ton lota or oV£r, £8 15s; sucrjsine, £ll per ton.

BUTTER PRODUCTION. (SPECIAL TO ''THE PBESS.") ACCKLAiSD, March 5. The quantity of butter received lor grading at the Auckland .Farmers' freezing tympany's stores this season to the end of February totalled 1,067,579 boxes, compared with 1,129,680 "boxes for the corresponding period of last season, a decrease ol 72,101 boxes. The total received during February was 150,873 boses. against 166,831 in the corresponding month of the previous year, a decrease of 15,95 d boxes. Cheese received during February totalled 18,535 crates, compaxed with 14,392 crates in the same month of the previous year, ail Increase ot 4143. The cheese received for the season to the end of February totalled 125,350 crates, an increase of 54,504 when compared wi!h the same period last season. The substantial increase in cheese production that was noted early in the season has been well maintained, and the output for the ye-ir may approach the record of 1920, when 164,891 crates were graded.

# DAIRY PRODUCE. DaJgcty and Company, Ltd., have received the following cablegram from their London office, dated March 4th:— "Dairy Produce—After a temporary improvement the markets ars very dull. We quote: Now Zealand butter, finest salted 184 a, exceptional New Zealand brands 168s. New Zealand cheese 905."

ASHBURTON BUILDING SOCIETY.

Tne iarty-ninth annual meeting of the Ashburton Permanent Building and Investment Society was held in the Society's board room on Tuesday evening, Mr F. TV. "Watt presiding in the absence of the chairman of directors, Mr Robert Bell.

The report, stated that the year's business had been very aatiafaclory. After paying the usu*l 7 per cent, on A and B shares there remained a sum of £2714 16s 8d to be decit with, and the directors recommended that the amount be distributed as fo.lows:—per cent, profit on B shares current, £7'JS Ss; 21 per cent, profit on A capital shares, illi,"; carry forward £7lB lis fed.

j.lie chairman, in his remarks, said that ne lelt sure the regret he expressed that the, chairm-in was not with them that evening was a sentiment that would be echoes by ever/ siiaiehoider. Mr Bell had been laid by Icr eome weeks by an indisposition which was only obstinately yielding to the most skilful treatment, but he hoped to see him in his accustomed place within a few weeks. The chairman was pleased to be able to report that the policy pursued by the board had resulted in an increased net profit for the ]ast financial year, lu the previous year the result was £1919 17s Id., "wliiLs"t in tlie last year the excess of income over expenditure was £2230 15s. It must not be overlooked that last year the Society paid no less than £llO3 15s lid in interest to its shareholders and depositors, without taking iilfo account the £2418 15« 3d paid out on the allocation of the profit disclosed in the previous annual accounts. The sum of £llsfi had aiso been credited as interest io the equalisation of dividends and contingencies account, which now stood at £20,43S 13a 2d. As an indication of a steady improvement in the financial position in this community, the following figures should be convincing:—ln 1922-3 the agglegate of the moneys received was £260,213 8s 6d, whi.st in 1923-4 the corresponding amount was £291,909 19s 4d, an increase of £31,696 10s 1 Od. In the same periods the deposits wexe £215,952 103 10d and £227,154 9s 3d, an increase of £11,201 18s sd. There had been no special endeavour on the part of the directors to extend the Society's operations during the last year. A cautious policy h.id again been maintained aad added efforts made to strengthen <m already satisfactory position by increasing the assets which could readily be converted into cash without prejudicing seriously the earning capacity of The Society.

The report and balance-sheet were adopted. Messrs James Cow and F. W. "Watt were Te-elected to the directorate unopposed. It was decided that it bn a recommendation to the directors that the jubilee of the Society be fittingly recognised next year.

BURNSIDE MARKET. (PRESS ASSOCIATION TELEGEAJt.) DUNEDIN, March 5. Cattle were forward in laxge numbers at •Burnside to-day, and the saJe throughout was good. .fc'at Cattle —Tho entry totalled 351 head, compared with 255 last week. Tho quality all round was good, Bome prime bullocks and good quality heifers being in evidence. There was an over-supply, and as a result prices dropped to the extent of 10s to 15s per head for bullocks, and 20s to 30s per head for cows. Prime handy-weight bullocks were worth 17s 6d to 2£s 6d per 1001b, prime heavy-weight bullocks to 263 6d, unfinished bul.ocks to 255, prime heifers to 225, and light heifers and cows 17a 6d to 20s. Extra prime hcivy-weight bullocks sold at up to £l4 10s, prime £ll to £l2 10s, medium £9 to £lO, and light and unfinished sorts £6 10s to £7 10s. Extra prime heavy-weight heifers sold at up to £8 10s, prime £6 10a to £7, medium £5 to £5 10s, and light and aged £3 to 14. Fat Sheep—There was a large entry, numbering 2345 head, compared with 2412 last week. The yarding included a good many ewes mnny of which were not well finished. a BU PP J y of prime wethers was also offered. Prices improved to the extent of -s per head for prime wethers and Is per head for all classes of ewes. It wna the best sale .held this year so far. Prime handy-weight wethers sold a,t from to 6«d per lb, prime heavy-weights to 6d, prime heavy ewes to sd, prime handy7i!J g ,® wea 10 . 6id > and aged ewea 4d to 4 a d. Lxtra prime heavy-weight wethers so.d at up to 47s 9d, prime 38s to 44s medium 29b 9d to 32s 9d, extra prime heavyweight ewes to 355, prime 29s to 30s 6d and medium 25s to 265.

Fat Lambs—There was a yarding of 1171 head, compared with 1150 last week. The entry was of mixed quality. Auhcmeh competition lacked keenness, prices were nrm. Exporters were cautioua operators. Prime handy-weight lambs sold at up to °* d P®? ] b > heavy-weights at lOd to lOid U tl^ llll , n l lShed . at 9d 9 K extra prime lambs sold up to 37s 6d, prime 30a to 32a 3d m 2B "' * iebl " d

Store Cattle—There waa a yarding of 400 tfons T of all descripns - Two J Jlnca of well-bred bullocka f n ud? u / t101 ? claimed attention, and ere sold tinder keen competition at satisfactory pncea Four and five-yenro.'d bullocks made from £8 to £8 ss, three and four-year-old up to £5 15s, and medium weight® from £4 Ss to £4 10s. Several pens of splendid cows sold Ht reduced rates, and £ number of well-bred mixed yearlings wore disposed of at £2 2s per head A W® number of young cattle in backward condisdeablT 0 ' W6re pracWcan y th D n lry C ! lUle —There was a larger entry than usual, about 40 head being offered Ihe quality waa up to the standard of kte Jardinjjs, and as there waa a eteady demand I re3UU *\ -, BeSt -ITS to £l2 7s 6d, prime heifers from £9 lOs to » d both for prime bac onc „ Ld po.kem ?b" fn Y k U63 Me on the hasis of abou™7d S lor" 00 " 61 *' * Per lb TIN. I

(BY CABLE—PRESS ASSOCIATION COPYRIGHT ) (AUSTRALIAN AND N. 2 . CABLE ASSOCIATI^.j Tin stocks are 18,428°' 1014 SHARES. (Received March sth, 10.5 p.m.) Waihi, 30b. March i. LONDON WOOL SALES. DaJgcty and Company, Ltd., have received JL fol j°7 1 °g cab - e Sram from their London omce, dated March 4th: "Wool Sales—The list of arrivals is closed, ifae quantities available for these sales (March 18th) are as follows:—Australian 40 500 bales, New Zealand 31,000, Cape 2500 neld over 8000, South American 12,000." ' PROPERTY PASSED IN. Yesterday Pyne, Gould, Guinness, Ltd Offered at auction, in conjunction with Messrs J. G. McDonald and Company on account of Mr John McPheraon, 3889 acres ki eik)ld . 800 acres of a farm' block, ihe property was passed in at £4 10a per acre.

"Freahford," in the Cheviot 'settlement, £° A CIe3, P'.' * nd "Oatlande,'' 365 acres, in the same district, realised no bids No bids were received in respect of a suburban bungalow of six rooms, on account of Mr W. (x. Jessom.

THE BACON MARKET. (PBZSS ASSOCIATION IXLEGBiMS.) WELLINGTON, March 5 The following cablegram has been received by the Prime Minister from the High Commissioner, London:—"ln reply to your telegram of February 29th, the price of bacon sides, lean and leanest, are—lrish 91s to 955; Danish, 88s to 95b; Canadian, 89s to 965; American, 70s to 725. These are Smithfield wholesale prices, and per pound they work out as under—lrish, 9.8 d to 10.2 d; Danish, 9.4 d to 10.2 d; Canadian, 9.5 d to 10.3d; American, 7.5 d to 7.7 d.

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS. Sale Beported—Goldsbrough, Mort, 50s. LATEST QUOTATIONS.

OTHER EXCHANGES. (fbbss association telegrams.) AUCKLAND, March 5. Sales—Bank of Australasia, £l3 3s; Bank of N.Z., £2 12s 3d; New Zealand Insurance 30s; N.Z. and River Plate, 20s; National Timber, 225; Waihi, 29s 9d; Breweries Debentures, 21s. , „ WELLINGTON, March 5. Sales Reported—-5J per cent. Inscribed Stock, 1933, £IOO 17s ed; Rotoiti Timber Cov.. £1 3s 33. DUNEDIN, March 5. Sales—Westport-Stockton, 4s 6d; Mount Lyell, 23s 9d (two); "Waihi, 29s 9d (3). •Sales Reported—-Bank of New Zealand, £2 12a 6d; National Bank, £6 15s; 4J per cent., 1938, Bonds, £97.

LINSEED. The Department of Agriculture has received, under date 3rd instant, th© following cabled advice from Calcutta regarding the linseed market:— "Linseed—March shipments quoted at £2O 7s 6d per ton net, C. and F. Sydney; AprilMay shipments £l9 12s 6d. The market is steady." •

Januarv. March. <I. (1. d. d. Quarterbred — Medium .. — — to 27 Halfbred — Super . . 28 to 29 — Medium .. 24 to 25} to 27} Inferior . . 21} to 23i 20 to 2U Three-quarterbrcd— Super ' — to 26} — Medium .. ]7^ to 20 19} to 22 Inferior .. 15J to 17 18} to 19} Medium crossbred— Super . , 17 to 21} 20 to 24} Medium .. 16 to 17 17 to 19* Inferior . . 14 to 155 14 to 16J Coarse crossbred— Super . . 16 to 171IS to 19$ Medium .. 14 to 16 153 to 17-J Coarse ' .. 11 to 12* 13 to 14 Crossbred hogget— Super :— Medium .. — 19} to 21 Inferior .. — 15J to 18J Pieces— Halfbred .. — to 19J 21} to 22} 1st crossbred 15 to 18 19J to ..20-J 2nd crossbred 13 to Ui 14i to 184 Inferior .. — ii| to m Bellies— Halfbred . . 14 to 16 1st crossbred — 16 to 18 2nd crossbred — 14 to 153 Inferior .. — 11* to 133 Crutchings— 1st crossbred — 12 to 13-J 2nd crossbred — 9} to 11 Locks .. 7 to 11 83 to 12 Matted — 14} to 153 Lamb—■ Fine —. — to 23} Medium .. — 16 to 17} Slipq wool — Three-quarterbred lamb, fine .. — 263 to 28} Medium .. — ■23* to 24$ 1st Crossbred lamb — 24} to 26} 2nd Crossbred lamb — 18} to 19} Pieces — — to 20}

Buyers. Sellers. N Z. G°VT. DEBENTURES— per cent. Inscribed, 1939 — 97 6 0 4J per cent. Bonds, :9<30 — 7T 2 6 5 per ;:ent. Inscribed. 1-9-27 97 5 0 — 6 per cent. Bonds, 1927 97 5 0 — 5J per cent. Inscribed, ;933 100 15 0 101 5 0 5J per cent. Bonds, •933 100 15 0 — municipal debenturesNorth Canterbury Hos- * pital, 5£ per cent., 1932 — 99 0 0 COMPANY DEBENTURES— Glaxo 6i per cent., 1915 82 10 0 90 0 0 BANKSAust. Bank of Com. 1 6 0 1 7 0 Australa-sia (cum div.) 13 2 6 13 6 0 Comm. of Australia 1 9 6 1 10 3 New South Wales — 40 0 U New Zealand 2 12 0 2 12 9 XJn'ozj of Aiistralia 11 G 0 14 10 0 INSURANCE — 3 19 0 National 3 18 0 New Zealand 1 9 6 — South British 1 19 3 2 0 6" Standard (ex dir.) 2 0 3 — LOAN AND AGENCY— Goldsbrough, Mort 2 9 6 2 10 6 National Mortgage (com 3 IS div.) 0 4 1 0 N.Z. Loan and Merc. t'pref. stk.) 79 0 0 — SHIPPING— Huddart Parker (cum div.i 2 2 6 2 3 3 Huddart, Parker (pref.) 1 0 6 — FROZEN MEAT— Canterbury (pref.) 5 2 0 — Gear — 2 5 b N.Z. Refrig. (paid) .. 1 0 0 1 0 6 N.Z. Refrig-. (confcr.) .. 0 9 9 0 10 3 North Canterbury — 2 10 0 Wellington (£3 12a 6d 1 17 paid) — 6 GAS— Christchurch — 7 19 0 BREWERIES— Crown 1 18 9 — Manning 1 8 3 1 8 9 Ward .. — 2 4 6 TIMBER— Kauri >. — 1 9 0 CEMENTS— 1 10 Wilson's 1 9 6 6 MISCELLANEOUS— Beath and Co. • .. 1 13 0 1 15 0 Beath, Schiess 0 10 0 0 13 0 Eclipse Petrol (£l paid) — 0 8 o' Eiectro Zino (pref. cum 0 div.) 1 10 3 1 11 iJiason, Struthers (14s r paid) 0 15 e — Mason, Struthers (6s paid; 0 6 9 0 7 3 Mason, Struthers (4a paid) 0 4 6 — N.Z. Farmers' Co-op. (£2 paid) 0 4 10 — N.Z. Farmers, Co-op. (6 per cent, cum 3 12 pref ) S 0 0 6 N.Z. Farmers' Co-op. (6 per cent. pref. re 2 10 div. only) — 0 N.Z. Farmers' Co-op. (61 per cent., Stock, 1930) 73 0 0 — N.Z. Paper Mills 1 2 0 1 3 (f "Whitcombe and Tomba 8 13 6 — BJV.W.R.A. 0 11 3 — MINING— Mt. Lyell 1 3 3 1 5 1 10 0 Waihi 6