COMMERCIAL.

Press, Volume LX, Issue 18128, 18 July 1924, Page 10

COMMERCIAL.

STATE PURCHASES. SECRECY CONDEMNED. to "thb mss.") AUCKLAND, July 17. The "Herald'' states that there is considerable comment among merchants in Auckland, as in other centres, except Wellington, about the methods of the special board in purchasing Governmt'.nt supplies for .the various department of the State. The complaint ia concentrated against the secrecy of the business. The "Herald" says: The subject is not another Auckland grievance; it has provoked protest in Dunedin and Christ-f.hurch. There is no complaint in Wellington, as the metropolis of tho Public Service and the political capital of the Dominion appears to have every reason for appreciating the system. Wellington's wholesale merchants obtain a very generous share of tne great trade in stores required by Government Departments. The centralisation of the State's activities in purchasing supplies is said to be a good tiling; tor commerce nearest the eye of the purchasers. Outside of Wellington objection to the system of secret purcnase is 60iid. It is also active, finding expression in deputations to the responeiUle administrators, and in discussions at conferences of associated wholesale mercaants and Chambers of Commerce. The subject was discussed yesterday at a meeting of the Auckland Wholesale Merchants' Association, and it will be given lurther consideration at the next meeting of the Chamber of Commerce. Dunedin has prepared a remit on the question, which has the unqualified support of Auckland rep-resentatives-of commeroe. May it not be inferred that, when Dunedin and Auckland are allies in attacking a policy or practice, there is clearly something wrong with it? The system, adopted by the State" Stores Control; Board, at Wellington, which was con-> stituted on May oth, 1922, to improve the methods of purchasing large quantities of stores, for Government ue-: part meats, has become so unsatisfac-! Tory to wholesale merchants in Auckland, as in Dunedin and Christchurch, that most of them intend to tinue their rather hopeless efforts to secure acceptance of their tenders. Some firms decline to tender at all on the plea of certain rejection. The paper states that the Stories Control Board now represents a big concern. It is stated on good i authority that its purchases of supplies overseas and in New Zealand amount to nearly £3,000,000 a year. The range of its activities is akin to that of some great emporium. The Board, it is said, even impo.ts for State institutions such commodities as rice, fromr Rangoon, sago, from Saigon, and tea, from Ceylon. l There isno objection to the economic principles of the Board, nor to its aims, says the "Herald"; indeed, merchants .'applaud the. business merits of the system. Complaint is directed exclusively against the .close secrecy of the purchases. Tons of commodities and. material are purchased by the State in New Zealand every year, for wnich tenders are accepted. Where is most of thel bulk of the buying done? What are the prices paid by the Government, and to whom are they ; paid ? These are questions to> which merchants in- Auckland, Christchurch, and Dunedin seek definite replies. So far they have sought in rain. In commercial circles the, prioe, of commodities purchased by the Board is unknown. It is presumed that the lowest quotation is accepted as a rule, but there appear to be exceptions. An Auckland firm, in the hope of test-' ing the policy of the Board, submitted a tender for supplies at a rate well below cost price. . It was ignored. There was no response. What was the accepted price P. All that merchants in Auckland, Christchurch, and Dunedin seek is reasonable' information about the contracts. They contend that tenders should be made public, especially the prices accepted. The Minister in charge of the Board (Hon. J Coates) refuses to disclose, such information. v

THE MUTTON MARKET. NEW ZEALAND BEING OUSTED. V. ■' r • (PMSB ASSOCIATION ULMSAX.) PALMERSTON NORTH, July 17. The following, extract, from a letter written by one- of the leading meat importing firms in; London-to a Palmerstonian is illuminating, in .view of re» ■ cent, strictures ron the Meat Export Control Board :=-r v v "We find that South American sheep appear to be in; suffi&ent supply. for the and were i held back when the -market went " particularly low here, with a result: that there is a little more afloat from that country. It is a definite and undeniable fact, and one we cannot be too emphatic about, that Plate sheep have entirely' taken possession of the mutton market' previously held by New Zea-land,.;-and. .that apart from a small trade in the very, best descriptions of New Zealand , their© is very little business indeed for other descriptions v In- our* daily visits, to Smithfield we have- continuous and tiresome * complaints: from stallholders regarding .the,. Bale of New Zealand mutton. Oii one of our clients had about half a dozen-r- —(w£llknowu Dominion freezing works; sevens left on the hooks unsold together with one -of Plate sheep of equivalent weight. We .were asked to give, an opinion as to the best quality sheep 'on 'the hooks,. and, unfortunately; we had to find infayour of the Plate. It must; be admitted that the best sheep were'sold earlier, but those left were gradedprime. The cost to stallholders (bought well) was 6£d pei lb. for New Zealand and sjd for the Plate sheep. It is not" to be wondered at that for every ten New Zealand sheep clients sell thpy sell 100 Plates, with ,less trouble. \ The quality, of the New-Zealand sheep this year, probably owing to drought, has been poor, ana too few choice sheep are coming over. The bulk are no better +.hqn "Plate and the prices are out of proportion. The same applies to lamb. It & a ridiculous thing that New Zealand second grade, ordinary brands, is making lOd per lb. It is making that prioe at the moment (early in June) simply because there is very little Australian lamb for sale."

MERCHANDISE MARKS. THE BILL KILLED. (BY CABLH—PUSS ASBOCUTIOK COMBIOHT.) (APfITBtT.TAW ASS ».Z. CABUE ASSOCIATION.) LONDON, July 16. Admiral Sir Guy Gaunt's Merchandise Marks Bill was practically Mlled as the result o? two -abortive meetings of, th» Stnjidmg Oompaitrteeof "the ?, ftouße of Commons, to which, the Bill was committed r for consideration. . The measure will go to the bottom of the list referred to the committee, which, at this stage of the session, Views the «nd of'tbo Bill.

THE POTATO MARKET. AN ALLEGED SQUEEZE. (SPXCUZ. TO "THB muss.") AUCKLAND, July 17. According.- to a statement made today by a man in the *rade, potato growers in the South who have been hoarding supplies with intent to force up prices on the consumer have found their cupidity checkmated. Not only are Auckland people assured of early I heavy supplies of prime tubers, but those who set out to exploit them are due to sit on the stpol of repentance, regretting that they did not sell at' a fair price when the opportunity offered, instead of seeking ■ to squeeze the market. "Not only have Southern growers tome 'flop,' but they have pulled number of merchants with them,'' said the informant.' "The merchants h. been buying at from £6 to £8 per ton f.o.b. from Southern farmers, who have been parting with only small quantities at a time. These prices have been paid for August and August-Sep-tember deliveries, and the price in the South to-day is £5 10s for the same delivery. The explanation of this contretemps is that merchants, failing to secure supplies from those hoarding them in the South, placed orders in Melbourne, Victoria, and in Devonport, Tasmania. Victorian rates were £3 15a per toD, as against £4 10s for Tasmanians a little while ago. The potatoes from the North of Tasmania are as fine as are grown in any part of the world, but the prices of these had to come down in sympathy with Victorian potatoes, which were in very plentiful supply. Supplies for Auckland have been purchased at both Melbourne and Devonport at £3 los, and these should be landed here at £6 15s per ton at most, this including £1 per ton duty, freight, and losses .in weight. The Koromiko is due at the week-end from Melbourne athd Devonport with 11,500 bags of potatoes, and she will be followed by the Kaiwarra and Karori, both with full consignments. Thus the public are assured of cheap potatoes for some time to come." * "Won't- this hit Southern,, farmers pretty hard?" asked the reporter. "Serve them right," was the. reply; "4hey wouldn't be satisfied with a fair thing."

WHEAT.

IMPORTATIONS FROM AUSTRALIA. Mr J. wheat controller, arrived from Wellington yesterday on business connected with, the allocation of importations of wheat to the South Island. Replying to a reporter's query,' Mr Collins stated that since April last , a monthly averagei _of' 12,000 tons of wheat had'been' landed at "the main ports of the Dominion. To date the total quantity. imported was, approximately, 1,500,000 bushels : this .amount had • been distributed, to millers and merchants. Practically the whole of this wheat had been ihiporjed from Victoria and Soutli Australia. The steamer Kekerangu, expected at Lytr telton to-day, jwau bringing, a further parcel• for Christchurch millers; there were 66,000 bushels for r.od 84,000 bushels f&r Oamaru. Another steamer was bringing 6000. tons, wiiich. would be distributed to Christchurch, Oamaru, 'and' Dunedin millers. Asked regarding the position in respect of New Zealand grown wheat, Mr Collins said that the original estimate Of returnS wafi 4,250,000 bushels, and up to July 16th the total quantity I threshed Was 3,832,575 bushels, the average yield per acre being 24.38 busheis. The totals yield for tne 19£3-24 season was the lowest for several years past, the. next .lowest having been in the 1919-20 season; when 4,500,000 bushels were, threshed.

RABBITSKINS. THE DUNEDIN AUCTIONS. (SPECIAL TO "TBS IBIS 8.") DUNEDIN, July 17. ' Tbe Dunedin rabbitskin sales that began on Tuesday ended yesterday with a complete clearance. It is estimated- that the, fortnightly 6eries of auctions by all' tHe Dunedin brokers resulted in sales totalling between £40,000 and '£50,000, and owing to the extretno mildness-of : the season, the. quality of the skins was below the average, the proportion of the best grade skins being very small with other seasons.-Nevertheless there' was 'a keen demand, especially from American buyers, . and this eagerness l on the part of the Americans brought about an unusual feature of the auctions, namely, that "bucks" ,were more sought after than "does," the explanation being that United States manufacturers prefer heavier pelts. Trapping this season , has covered an exceptionally wide area, (seekers for new country having to go very far back in the wesf.

STUD FLOCKS DISPERSED. (russ association TSLKMuk.) . MASTERTON, July 18. At the dispersal sale of R. Buick's Paerau stud Southdowns and Romneys, the'total realised was £3581. The top price for a Southdown ram was 85gns., the purchaser being H. Collier, Maxwelltown. > Ronmey stud rams made up to 20gns., and flock rams to lOgns. : Soutlrdown ewes made up to 24gns., and stud ram lambs to 31gns. Buyers were present from Hawke's Bay, Nelson, and Wanganui. CONDEMNED STOCK. (BPZCUX, TO "THB MBBS.'*) WELLINGTON, July 17. The annual' return of condemned stock slaughtered in the Dominion shows that 5358 cattle and five- swine were. killed. The amount' of compensation' paid in half-value was £12,909 and in full value £lO. The amount received in respect of the disposal of carcases was £1256. , TALLOW. LONDON, July 16. At the tallow sales 785 caaks were offers ed and 400 casks were sold.: Prime mutton made 455, medium 41s 6d; prime beef 455, medium 40a 6d pfer cwt. Dalgety and Company, Limited, have received the following. cablegram from their London office, dated Jiily 16th:— "Tallow—At the weekly auction, . 785 casks tallow were' offered and '330 sold. Jdzikez quiet. Prices are unchanged, except for mutton tallow, which is sixpence per cwt higher." Messrs A. H. Turnbull and Co. are in receipt of a cablegram from their principals, "W. Weddel and Co., -Ltd., dated London, July 16th, reading as follows:—At tallow auctions; to-day,. 780 casks were offered and 270 sold. Late rates to.6d more.

MEAT BOARD. ELECTORAL COMMITTEE. (VBXSS ASSOCIATZOH HUM&Uf.) WELLINGTON, July 17. The Returning' Officer announces that ho has received the following- nominations as delegates to represent the various districts on the Electoral Committee, .which meets in Wellington on Augftst 28th to •' consider the second annual report and accounts of the New Zealand Meat Producers' Board, and to elect two producers' representatives on the Board Auckland—-C. K. Wilson.' Piopio; H. E. Worsp ; Whangarei (declared elected). Hawke's Bay and Gisborne—Edward A'verill, Hastings; H. M. Campbell, Napier : R. S. Chadwick, Dannevirke; J. C. Field, Gisborne; Henry Gascoyne, Maraekakaho ; W. D. Lysnar, Gisborne; Patrick Pattullo, Napier; William Richmond, Hastings ; W. G. - Sherratt, Gisborne. (Six delegates required.) Wellington and West Coast—K. W. Dairymple, Bulls; J. M: James, Masterton; George L. Marshall, Marton; William B. Matheson, Eketahuna; Gregor _ McGregor, ■ Waitotara; Hugh Morison,_ Greytown.' (Five delegates required.) Marlborough, Nelson, and Westland—"William X?. Rudd, Blenheim ; Alexander Thomson Ward. (Declared elected.) Canterbury and Kaikoura—H. D. Acland, Mount Peel; James G. Hunt, Riccarton; William T. LillL Ashburten: W. K. Mc Alpine. Grai<iiehurn; R. M. D. Morten, Tai Tapu; Norman Rutherford, Mendip Hills; John Trotter, Fairlie: D. W. Westenni, Dunsandel. (Five delegates required.) Otago—James Bee:g, Dunedin; Duncan Cameron. Rapakaio'; W. J. A. McGregor, Birchwood; Alexander McKenzie, Otahuti; J. D. Revie, Crookston; David Williams, Puke- . uri. (Five "delegates required.) In respect of the four,districts where Che number of nominations exceeds the number of delegates required, a postal election' is being conducted, and the necessary ballot paper is being despatched to each sheepfarmer owning not less than one hundred sheep.

AUCKLAND MARKETS. (special to "tots passs.") . AUCKLAND, July 17. Wholesale grocery houses report quieter conditions during the po-st few days, but as next week will see business for town and country being executed for nexit month's account, -an improvement is looked for. Sugar—All grades of refined and raw BUgar have been 1 reduced £1 I,os per ton since the beginning of this week. Loaf sugar bears a . greater reduction,' as both packets and bulk we nbw' being quoted at £i per ton lower. Golden syrup and treacle are unaltered. The new retail prices represent a feduction of ,Is. per bag on all grades, and. in smaller quantities onc-farthing per pound. Loaf sugar has been reduced ninepence on 661b "cases; and, fourpence on 28lb parcels, but. no alteration has . been made in, smaller quantities, either bulk or cartons. Hardware—Wholesalers report '■ much quieter conditions. - Business on heavy. lines is very slow. „ Potatoes—Australian are quoted at £8 Ifia per/ ton,' southern whites at £9 ss) and red at £8 per ton. Onions—The shortage has been relieved by Australian shipments. These met a ready sale at good prices. The outlook, however, is .for high" prices in future. Australian are worth ' 20s per cwt. ' Maize—The present quotation for East Coast is 7s per bushel. Oats—Canadian are quoted at 5s 6d per bushel, and. Algerian seed at 6s 9d. Chaff —The Wairuna brought supplies from Melbourne this week. Quotations are—Blenheim, £ll 10s per ton,'and Australian (in sacks),' £lO. " Wholesale: current ;prices are—Superfine quality creamery butter, lib' pats, booked, Is 7id per , lb,; prompt cash Is GJd. per lb, first-grades factory booiked'ls 6Jd per lb, cash is Gd per lb, second-grade booked Is s§d per lb, cash Is Sd per lb, farmers' separator Is 2d per lb, cheese" 9d to lOd per lb, hams lid'to Is Id per lb, bacon sides lid to 1« Id per lb, lard in bulk lid to Is per lb, pats is to Is Id per lb, flour £l7 6s per ton (IeBS 2J per cent, discount for 2001b sacks),;.sharps £B. per, ton, bran £7 per ton, oatmeal (25's) local £32 per ton, Southern £33 per ton.

SOUTHLAND MARKETS. (SPXCUL TO "THE P&EBS.") INVEKOAiiuiiAL., July 17. Oats —The market stai remains firm at about 5i 3d t.0.b., s.i., for B grade. Supplies ,are now exceedingly . eiiori, and bo tar as lines suitable lor seed are concerned, there is a great scarcity, This also applied to Xhins;.* Values to - farmers, are about 6s for A Grade, on trucks, country stations, and '4s'9d lor Jb 'grade, wlule good Duns are worth- up to oe 6d per .bushel. Chaff—Offerings have now eased off slightly, but there are still good supplies of cfiafli Keaily prime lines are in demand, and merchants are offering farmers £6 103 per tori, and in some cases where the quality is especially good, and the railage a bear one, os per ton more.. Wie&t—There ia now no wheat offering from farmers, and the market is firm usth for shipment and for local consumption. Value.} to ff.rmera are about 5s 4d to 5s 5d,. on trucks, country stations. .Ryegrass—There is not much business doing in this at. present. Farmers are offering ncf))ing, and practically all the seed hts now passed- into merchants' hands; There is little demand for shipment just now, but on the other hand merchants' stocks are very light, and holders are firm in their ideas of values. Poiatoiea—The market is still well supplied. Offerings trom the country are not so Heavy as was the case a month ago. The value to larmers is about £5 10i for good table potatoes. Beed potatoes are in gocti denu-nd, and Up-to-daie seed is worth £7 los <on trucks. Buttons bupreme command a alight advance on £iris price, while iving Kdwards are worth about JBlii per ton for early seed purposes. Fruit—Business has been fairly brisk in the local fruit marts during the week. Full supplies of bananas and Island oranges have ■ come to hand, tyhile. a shipment of Jttarotongan bananas also arrived on Tuesday and opened up in excellent condition, realising . satisfactory prices. A further 1 lime of Fiji bananas arrived, but owing to their condition a fair proportion of these were unsaleable. Apples and pears are in Bhort supply, and are selling on arrival. P6orm»n oranges are in full supply. Current wholesale prices are approximately as follows:—Apples, Delicious to 15s, Stunners I 2 ® ,6d, Jonathansl2s 6d, Scarlet 10s 6d Lord Woiseleys 10s 6d, cooking apples 9s .6d per case; dessert^peans 4d to 5d per lb cooking pears 2Jd to 3d per lb; bananw (green), 18s, to 22s 6d per case,; Island oranges 163 to 22s navel oranges, double cases to 355; Adelaide lemons 17s 6d.

RAKAIA STOCK SALE. At -the Rakaia stock Bale yesterday very little fat stock came to hand, there 'beinir only one pen of fat wethers, which made 42s 6d. This state of the market was no » U ® J h , e . t r ® ezin K w <>rks being dosed. A pen of hght-weignt ewes brought There m . small yarding of store sheep which met w:th a ready demand. Sound to failmg-mouth ewes in lamb 32s M to 365, broken mouthed ewes 23s io °9s 6d S ld JlI ,d o!2. W -$ 0 ?i itio , ned 13b Id to 2ft.. ewe W il h " ho «««» 2is-Si, halfbred two-tooth wethers :Va, sDrinee* cows £B. Pigs: Weaners, 16s to 2&i! WAIHI MINE. (PMSS. ASSOCIATION TSIAQBAX.) ■ _ AUCKIiSNI), July 17. ™Sj'T*? s " Company for the period ended July 6Vh treated 17,231 tons of ore for 5360 ounces of gold and 32,520 ounces of silver For the corresponding period Inst year 16,189 tons, of .ore yielded 5600 ounces of- gold and 27,797; ounces of silVer.

CHRISTCHURCH STOCK EXCHANGE. YESTERDAY'S TRANSACTIONS. Sales on 'Change—Union Bank ( c um div.), £ls ss, £ls 4s 6d; Manning Brewery 30s 3d. ' LATEST QUOTATIONS,

OTHER EXCHANGES. (PBISa ASSOCIATION TILSOBAHS.) AUCKLAND, July 17. Sales—"War Loan, 1927, j£9B; New Zealand Inscribed, 1938, £97 ss; Auckland Gas (con.) 6s. WELLINGTON, July 17. Sales . Reported— ;\ew Zealand Breweries, £1 9s 6d (cum dir.); Ward and Co., £2 fls 6d. ' ■ • DUNEDIN,. July 17. Sale Reported—New Zealand Paper Mills, 23s 3d. FIVE MONTHS' IMPORTS. Tift Yalue of the goods imported into New Zealand in the five months ended May 31st last amounted to £18,761,321, or £1,030,401 more than in the corresponding period 'of last year, hut is £6,000,000, or 83 1-3 per cent, less than in tho 1921 term, when the imports were valued at £24,716,421. The aggregate of the different divisions of • imports for the five months, 1924 and 1923, compare as under:— 1934. 1923. £ £ Soft goods 3,698,681 4,133,169 Hardware .. 2,620,583 2,250,254 Foodstuffs .. 1,423,140 985,571 Beverages .. 715,352 770,863 (Miscellaneous .. 6,092,771 • £,403,531 Other goods .. . 4,310,734 4,189,52 18,761,321 17,730,92; The hardware section shows a moderatj increase of £370,329, and further expansion may be expected in this section becaus heavy importations of electrical machinery and railway and tramway materials mua. be made for some time to come. ' The heavy increase in foodstuffs is due to the necessity of importing wheat, the value of the imports for the. five months bein» £336,337, against £69 in the corresponding fave months of last year. Motor vehicles and petrol account very largely for the increase of tha miscellaneous section. The imports of specie during the five months were only £lO6, as against £11,980.

APPLES. (bt CABLE —FRBSa ASSOCIATION COPHUOHT.) UvstoaliJlN akd s.z. cabxjt association.) LONDON, July 16. Apples are firm. i'urther saiea of the Otaki's New Zealand Sturmers were made at 18s to 21s; Bokewoods, 33s to 21s; Scarlet Nonpareil, 22»; others, 20a to 21s per case. J.he Raranga's apples were somewhat overripe. Celos. a new variety, made 20s to 21s; Sturmers, 20s to 21s; wasty, lSe to 173; Statesman, 12s to 16s; ' Scarlet Nonpareil, 20s to 21s; Delicious (very wasty), 6s I to 10s per case. AUSTRALIAN MARKETS. (Received July 17th, 9.35 p.m.) SYDNEY, July 17. Oats—Tasmanian Algerian, 4s to 4s 3d a bushel; white. 4s 6d to '4s 9d. Maize—Yellow 4s 2d, white 4s Id. Potatoes—Tasmanian £l a ton, Victorian £$ 19s. Onions—Victorian £l3 to £ls a ton ADELAIDE, July 17. Oats—Algerian feed 3s. WHEAT. (Received July 17th. 7.55 p.m.) LONDON, July 16. "Wheat cargoes, owing to rain in Canada, fell from sixpence to ninepence * quarter. Parcels are quiet at from ninepence to a shilling decline, re-sellers taking profits. " I SOUTH AMERICAN MEAT. j The New Zealand Meat Producers' Board has received a cablegram from its representative at Buenos Aires, advising the following shipments to the United Kingdom for the fortnight ended July 12th, 1924, .from Argentine and Uruguay:—237,72s qxzaxters chilled beef, 79,562 quarters frozen beef, 82,032 carcases frozen mutton, 70,591 carcases frozen lam,b. The quantity shipped to the Continent cf Europe during the same period totall d: 127,650 quarters frozen beef, 2150 carcases frozen mutton.

Buyers. Sellers. £ s. d. £ *. d. N.Z. GOVT. DEBENTURES— •1J per cent. Inscribed 1938 97 2 6 97 7 6 4£ per cent. Inscribed 1939 97 2 6 4J per cent. Bonds, 1938 .. 97 5 0 97 7 6 ih per cent. Bonds, 1939 ' .. 97 2 6 5 per cent. ■ Inscribed, 1927 93 5 0 5 per cent. Bonds, 1927 .... 98 0 0 5$ pet cent. Inscribed, 1933 101 12 6 101 15 0 5J per cent. Bonds, 1933 101 15 0 COMPANY DEBENTURES— N.Z. Breweries, 10 per cent. Bond9 — 1 2 0 Gisborne Sheepfarmers' 7J per cent., 1931 . — 102 0 0 BANKS— Adelaide 8 2 6 8 3 G Australasia 13 . 6 6 Natl. of Australasia (£10 paid) 15 6 6 15 9 0 New South Wales 40 15 0 New Zealand 2 15 3 Royal (£1 paid) 1 13 6 1 14 0 Union of Australia (cum div.) .. 15 4 0 15 G 0 INSURANCE— National .. 3 13 6 — South British •2 0 0 2 0 6 Standard 2 1 3 — LOAN AND AGEKCY— Goldsbrough, .Mart (cum rights) 2 6 9 2 7 3 TTationnl Mortgage —■ 3 17 6 Permanent Investment — 10 10 0 SHIPPING— Hudcfert-Parker 2 3 3 — FROZEN MEAT— N.Z. Refrig. (paid cna> div.).. 1 0 6 N.Z. Refrig. (contr. cu& div.) 0 9 8 Wellington £3 12s 6d paid) 1 10 0 — WOOLLENS— Kaiapoi (ord.) 0 14 9 0 IS. 0 COALWestport 1 15 6 — We'tport-Stockton 0 4 11 0 5 2 Westport-Stockton (pref.) 0 6 3 — GAS— Christchurch 7 17 6 7 19 0 BREWERIES— Crown . 1 18 S 2 1 0 Manning 1 10 3 1 10 6 N.Z. (cum div.) — 1 9 6 Ward 2 9 0 2 10 0 TIMBER— ' Kauri 1 8 10 1 9 a MISCELLANEOUS— Beath and Co — 1 12 6 Beath, Schiess — 0 12 6 Burns, Philp 1 13 10 — Electro. Zinc (pref. cum div.) — 1 7 9 Electric Zinc (deferred ord!) .. 1 3 9 Evans Atlas Flour Milling — 1 13 0 Glenmore Brick and Tile (ord.) 1 0 0 — Mason, Struthers (6s paid) 0 6 9 — Mason, Struthers (4b paid) 0 4 7 0 4 9 N.Z. Drug Co. 3 7 6 — N.Z. Farmers' Co-op. (£2 paid) 0 9 G 0 10 6 N.Z. Farmers' Co-op. (6} per cent, stock, 1930) 85 0 0 89 0 0 N.Z. Farmers' Co-op. (■6} per cent. Stock, 1935) 80 0 0 — N.Z. Milk Products .. 1 6 0 ; N.Z. Paper Mills 1 3 0 • 1 3 9 N.Z. Sugar of Milk .. 1' 7 0 — United Pictures 1 6 0 ' — Whitcombe and Tombs 3 13 0 MINING— Mt. Lyell 1 0 0 Grand Junctions 0 2 6 0 3 8