CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXII, Issue 18591, 16 January 1926, Page 10

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS. Shlcs reported—Back of Australasia, £l4 3fl Cd} Eoyal Bank, 365, S6» 3d: TTcion Biink, £ls 2s Gd; Staples BrotTery 4 41g, 41s 41s; Electro, Zino (pref., cum div.), 85s 3d; Eank of JTew Zealand, SCu 6d, Sales an 'Chungo—Ksiwarau, 7s Id.

OTHER EXCHANGES. (press association telsg#ams.) AUCKLAND, January 15. Sales—lriaoribed Stock, 1927, £9fe; Bank of New Zealand, 56s 6d; New Zealand Insurance, 38s 3d; GoHsbrough, Mort, 48e; P. and O. Deferred, £240; Staples ilieweriee, 40b; Sanford Limited, 19s 6d; Kawarau, 7b 6ct. WELLINGTON, January 15. Sales Reported—Government Inscribed Stock, £96 2s 6d:, Bank of New Zealand, .£2 16s 6d; Union Bank £ls 2s 6d; HuddartParker (old.), £2 4s 9d. DUNE-DIN, January 15. Sales—National Insurance, 795; Kawarau, 7s 6d; Huddart-Parker, 44s 9d; Dominion Elibber, 60s 6d (two sale 9). AUSTRALIAN LOANS. PRESS OPINION. (BY CABLE —-PRESS ASSOCIATION—COPYRIGHT.) VAUSTRALIAJP AND N.Z. CABLE ASSOCIATION.) (Received January 15th, 9.35 p.m.) LONDON, January 15. The "Financial Times," in its financial news, merely comments that the results of tile Australian loans were expected. The "Morninpf Post" says the recent high terms of foreign loans momentarily diverted tho attention of the ordinary investor from gilt-edgeds, and professional investors, aware ai such a tendency, will doubtless endeavour to acquire new gilt-edgeds at a discount if possible. It is not surprising, however, to find, as on previous occasions, that discount rapidly disappears with the absorption of stock by tlio purchases on the market. - WORK FOR UNDERWRITERS. i (SYDNEY "SUK" SEBVICE.) LONDON. January 14. The underwriters of tho Queensland loan will take up 6S per cent, and of the South Australian loan 63 per cent. Dealings commenced in loth issues at los per cent, discount-.' HIDES. ' LONDON. January 14. At tho hides sales Australian -mß'o quite neglected. Quotations nominally were unchanged. DAIRY PRODUCE. LONDON, January 14. Butter is in fair demand at improved prices. New Zealand choicest salted 174s to 176s per cwt, Australian lS4s. Unsalted, about four shillings premium. Danish 186s. Cheese—Tho market is steady. New Zealnad white 100s to 102s per cwt, coloured 10-s to 104s. Australian supplies have been cleared, Dalgety and Co., Ltd., have received the following cabled advice from London:— Butter—The market is firm. We quote New Zealand salted 1765, for exceptional New Zealand brands 1,6 5 , finest Australian salted 168s, unsalted 170s, Danish i ß os. Imports ?ot»n U «d do? nno Lnl » ted Kin e d ° m last month ifin nnnr. w ' as compared with vL; Cheese Th® corTe -?P°=?in S period last year. Cheese—The market is firm. We quote New Zealand white lois, coloured 103Canadian white 102 s to lOGs,' coloured 102s GRAIN AND PRODUCE. AXD jr.jj rinT* . . '-ABLE ASSOCIATION.) bushel. Sellers are scarce. a 3s°9d S ~ MllUnS ~ 4S a buahc1 ' 3s 8d to to ß^r Eng ' lSh 45 ° d a Cape -is Potatoes—£9 30s to X'lo 10s n i^r, Onions—£ll to £ll 10. V tan*

SHEEP-BREEDING. VISIT OF A UNITED STATES * AUTHORITY, On a visit to the Dominion, and at present in Canterbury, is Mr Richard C. Miller, sheep specialist with tlx© University of Kentucky, and secretary of tho Kentucky Sheepbreeders' Association; ho is also representing several agricultral periodicals, and is the author of a text-book on sheep. "I am over here," Mr Miller told a reporter yesterday, "for what I can pick* up that is of interest in connexion. with sheep-breeding generally, and I am interested more from the educational standpoint as I do a good deal of lecturing on sheep-breeding, tiheep have been decreasing in the United States, to the extent-of nearly though there has been a slight increase in tho last few years. The decrease .was due largely to portions of the range —or what you would call pastoral—section being given over to tillage. I am interested in sheepbreeding both from tho wool and mutton standpoints. In the particular section of the country in which I am most interested the breeds favoured are Southdowns, Shropsliires, Hampshires, and Cheviots. In tho 'range states the foundation flocks are either Rambouliet, or Merino grades. These grade ewes are bred to mutton rams, particularly to Hampshire and Lincoln rams, for the production of market lambs, or fat lambs as you call them. I am particularly impressed with the interest shown in New Zealand in the Corriedale breed —the New Zealanders with whom I have talked seemed very enthusiastic about this breed—-and I hope to visit several flocks while I am in the South Island. We have a few Corriedales in America, the biggest breeders being King Brothers, of tho Slate of "Wyoming. lam very much impressed with New Zealand as a live stock country," Mr Miller added. "I. say that frankly, and without reservation. I have been very much impressed with what I have seen of New Zealand from the live stock point of v jew—in fact, I have been impressed with the country as a whole—and I speak of it from the live stock point of view because I am interested in that direction." Mr Miller leaves shortly for Dunedin, but. expects to spend about a week in Canterbury. I rom New Zealand he goes to Australia, South Africa, and Great Britain.

METALS. (BT CABLE—fiass ASSOCIATION"— COPTRIOHT.) tAUSTEALIAN AXJ) N.Z. CABLE ASSOCIATION - .) (Received January 15th, 3.5 p.m.) LONDON, January 14. Copper —Spot £59 iis 9d, forward £6O lis 3d per ton. Lead —Spot £35 os 9d* forward £34 7s Sd. Spelter—Spot £3B 13s 9d, forward £37 16? 3d per ton. •fin —Spot £263 7s Sd, forward £276 5s 8d per ton. Silver —Standard Olid, fine 34d per oz. TALLOW. ■Me«srp A. H. Turnbull and Co. have received the following cabled advice from London :—At tallow auctions to-day, 1700 casks were offered, of which 400 were sold; late rates to 6d less*

BANK OF ENGLAND RETURNS. (BT CABLB—FBISS3 ASSOCIATION—COPYKtOKT.) (AUSTRALIAN AND N.Z. CABLE ASSOCIATION.) (Roccived January 15th, 7.20 p.m.) ' LONDON, January 11. Tho following are the Banlz of England returns for tho veek. ended Wednesday: Issue Department. £ Notes issued .r i»• 1GQ,343,000 Other securities <s ... 8,735,000 Gold coin and bullion ... 142,593,000 Sliver bullion .. •• .i. Nil Banking Department. £ Rest fcw h* 3,473,000 Public deposits ... »• 13,804,000 Other deposits .. »• 114,851,000 Government securities .., .. *14,583,000 Other securities .. t.. 80,007,000 Notes .. 20,135,000 Gold and silver coin .. 1,659,000 Proportion of reserve to liabilities 17.10 Short loans are quoted at 4 per cent.; three months' bills at 4 8716 per cent. Seren-day and other bills are quoted at 3 per cent. t GOVERNMENT SECURITIES. LONDON, January 14. The following are the latest quotations for Government securities, compared with the prices ruling on January 7th: — Jan. 7. Jan. 14.

FOREIGN EXCHANGE RATES. LONDON", January 14. The exchange ratea are:— Par. Jan. 11. Jan. 14. Paris, fr. to £1 .. 25.22| 126.56 129.45 Brussels, fr. to £1 .. 23.221 106.93 107.00 Oslo, kr. to £1 .. 18.159 23.85 23.83 Copenhagen, ki\ to £1 18.150 19.19 19.53 Stockholm, kr. to £1 18.159 18.12 18.11 Berlin, Beichmarken to£l .. Montreal, dol. to -61 4.56J 4 88* 4.86 i New York, dol. to XI 4.BSJ 4 4.83 5-10 4.86 Rome, lire to £1 .. 25.22* 120 12 120.37 Yokohama, at to yen 2.58 -Is -H Calcutta, ettorpe. 10to g old£ TToiic ICon". sfc to dol. * 27J 27| , S * Governed by price of silver. WHEAT. V ; | NEW YORK, January 14. ! Chicago wheat quotations ate:—May, new 1.1761, Old 1741; July, 152j. September, 145 cents per bushel. GOLD. (Received January 15th, 9 p.m.) LONDON, January 14i | The price o£ gold is 84s lid per oz. 1 CEREALS. (Received January 15th, 7.50 P-™-) LONDON, January 14. Cargoes are dull in buying, despite a sixpence- to ninepence decline. Parcels are quiet and steady. , . Liverpool future quotations are: March 12s 31d, May 12s OJd, July lis lOd per cental. Spot trade is very slow*. Flour is dull. Australian ex store is quoted at 47s 6d. _ '' , ' Oats are quiet. A Gartons are quoted at 33s to 345. Peas are steady. Blue Tasmanians are quoted at 240s to 3605; New Zealand at 240s to 3405; Maples, Tasmanian at 83s to 85s, New Zealand 755. ... New Zealand beans are quoted at 44s to 465. FROZEN MEAT. Dalgety and Company, Ltd., have received the following cabled advice from Loudon:— Frozen Lamb —The demand is moderate and the market firmer. We quote prime crOßßbred lamb; Oanterburv, heavy 7Jd, light lOjd; North Island, heavy 7Jd, light fljd. Improved demand for Australian lamb, for which we quote, g.a.q., crossbred light B§d. Frozen Mutton—The demaud continues and the' market is firm. We quote prime crossbred mutton: Canterbury, heavy 7d, light 7gd; North Island, heavy 6Jd, light 7id. Fair demand for Australian muttou, for which we quote, g.a.q., crossbred heavy sd, light sd. Frozen Beef—The demand is limited and the market steady. We quote prime ox beef: Hinds 4Jd, fores 4Sd. Pork—We quote, on spot lOd to lid. Good demapd. No buyers hero for forward shipment.

LATEST QUOTATIONS. Buyers. Sellers. Lust Buyer*. Week. Sellor®. Last Year. Buj«r», Boiler*. £ a d £ a d £ s d £ 1 d £ • d 4 a d N.Z. GOVT. DEBENTURES— 4J per cent. Inscribed, 1339 .. .. — 4j per cent. Bonds, 10:10 .. .. 9G 10 4£ per cent. Bonds, 1338 and 1939 .. 95 15 5 per cent. Inscribed and Bonds, 1927 .. 97 10 6 per cent Inscribed, 10-29 .. .. 97 0 5J per cent. Inscribed, 1033 .. .. — oj per ofnt. Bonds, 1983 •• .. 99 12 OTHER DEBENTURES— Chrietchurcli City, 5J por cent., 1949 .. — Clirisiclnirth City, 6i per cent., 1929-34 .. — Napier Harbour, 62 per cent., 1928 .. — Wellington City, oi per cent., 1930 .. —• Cliristchuroh Gas, 5J per cent., 1934 .. 98 10 Booth, Mncdonald, 6J per cent., 1932 *. 75 0 BANKS— Australasia, .. „« 14 1 Comm. of Bvdney National of Australasia (±5 paid) .. .. S 15 New South Wales .. 43 0 Saw Zealand .. .■ '-5 16 Royal (£1 paid) .. 1 15 Union of Australia 35 0 Yicturi;', (ord.) 8 0 Victoria (prof.) _ .. 10 0 "Western Australian .. — INSURANCE— National .« •• 3 19 Queensland .■ •• ~ 12 South British • - 2 13 ■Standard . • • • 2 9 LOAN AND AGENCY— Dalgety and Co. .. 15 12 Goldsbrough, Mort .. 2 T National Mortgage f •• 3 15 Abraham and Williams (pref.) .. •• — SHIPPING— Howard, Smith .. 1 lo Huddart-Parker .. 2 4 Huddart-Parker (pref.) 1 0 Union (pref.) ... 0 19 FROZEN- MEAT— Canterbury .. .. 10 0 N.Z. Rofvig. (paid) .. 0 16 N.Z. Refrig. (10a paid) 0 7 WOOLLENS— Kaiapoi (pref.) .... 0 10 COAL— Westport ' .. 1 11 GAS— Auckland' 12 Christcliurch 7 12 Timaru . • ... — BREWERIES — Manning .. ... 2 2 New Zealand (ex div.) — Staples .. .» 2 0 TIMBER — Kauri .. »«j "~ MISCELLANEOUSAustralian Glass ... — BeatH and Co. .. 1 11 Beath, Sohiesa Burns, Philp .ti 1 1!> Dominion Rubber .. 3 1 Electro. Zino (pref c'urn div.) .. .. 1 1® Electro. Zino (ord. cum div.) .. • • 1 13 Henry Jones •••- 2 5 Mason, Struthers (10a . paid) •• •• — N'.Z. Drupr Co. .. \3 6 N.Z. Farmers' Co.-op. \ . {to paid), .. ■■■ — N.Z. Fanners' Co-op. (£3 paid) — N.Z. Guarantee Corpn. 0 9 N.Z. Sugar of Milk .. 15 . Xortli Canty. Flour (£1 paid) •• •• MINING— Blacks 1..1 •• 02 prem Kwn.rau .« "• 0 ' Mfc. Lycll ... •• 15 0 0 0 0 6 0 0 0 0 0 0 3 0 0 0 0 ft 6 0 6 6 6 0 3 0 9 0 0 b G 6 9 0 D 3 9 G 0 0 3 9 0 s 0 0 0 '3 0 96 10 9G 0 99 12 92 0 103 0 99 0 98 0 11 5 27 0 8 17 44 0 2 ll> 15 1 2 15 3 1? 2 14 IS 13 2 8 1 15 2 5 1 0 1 0 11 0 0 18 0 8 1 12 7 13 7 7 2 4 2 19 2 1 1 12 1 16 1 12 0 10 2 O 0 11 2 0 1 0 0 9 1 8 1 2 0 8 0 0 <5 0 0 0 0 0 0 6 0 ti 6 0 G 6 0 0 0 3 9 0 0 0 0 6 6 5 0 9 3 9 6 6 9 a 0 0 0 0 0 0 0 — 96 10 0 — 96 10 0 97 15 0 — 25 15 0 — 42 15 0 — 3 IB 0 2 16 6 14 IS 6 — 7 11 0 — — 2 14 0 3 18 0 3 18 6 — 2 12 6 — 2 15 0 2 7 0 — 15 10 0 — 2 6 0' 2 6 9 — 3 l'i 9 1 15 0 — 2 3 6 2 4 3 0 17 3 0 7 1 0 7 5 1 10 0 1 12 0 7 10 0 7 12 6 3 2 0 2 2 G 2 16 6 3 0 0 2 0 0 2 13 •n~~ — 111 0 1 12 8 _ 1 17 0 — 1 12 7 1 13 6 2 2 0 2 3 3 — 0 11 0 — 0 10 0 17 0 1 10 0 0 0 10 0 6 8 * 97 10 1C0 5 SO 0 13 8 22 15 41 0 3 1 1 14 14- 2 3 12 2 i U 10 2 9 I 2 1 14 1 0 13 2 7 11 1 13 1 8 1 10 1 15 1 10 1 2 0 — 0 101 7 0 — 6 _. 0 — 0 -4 2 0 0 3 1 3 — 6 14 10 0 — 0 — 0 — 6 2 10 6 — 6 1 16 0 — 6 — 0 16 1 14 6 8 0 7 1 li 3 — 0 — 9 — & I 10 2 15 6 13 6 0 3 0 3 0 0 8 0 6 ft 0 6

r s. d. £ s. d. Imperial consols, 21 per cent. . .. 55 2 0 55 3 9 War Loan, 5 p.c., 1929-47 100 15 0 100 15 0 War Loan, SJ p.c., 15 1925-28 97 12 6 97 0 Conversion Loon, SJ p.c. 75 5 0 75 5 0 Commonwealth, 6 p.c., 1931-41 104 12 6 104 12 6 Commonwealth, 5£ p.c., 1922-27 .. 100 10 0 100 7 6 New Zealand, 6 p.c., 1926-51 106 7 8 106 15 0 New Zealand, 4 p.c., 1929' 90 2 6 96 . g 6 New Zealand, 3J p.c., i 1940 84 5 0 £4 2 6 New Zealand, 3 p.c., 1045 76 10 0 76 6 0 New South Wales, 6J p.c., 1930-40 102 17 6 103 Q 0 New South Wales, 6 p.o., 1930-40 . . 102 10 0 102 e 0 New South Wales, 5g 103 6 p.c., 1922-32 .. 100 10 0 7 New South Wales, 4 17 6 p.c., 1938 New South Wales, 31 90 17 6 90 83 p.o., 1980-50 .. 83 6 0 a 6 New South Wales, 3 6 p.c., 1935 Victoria, 51 P-c., 75 0 0 7a IT 101 is 1930-40 101 0 0 6 Victoria, 3 p.c. 71 10 1921-26 71 10 0 0 Victoria, 3J p.c., 78 10 1929-40 78 2 6 0 Victoria, 31 p.c., 10 1929-40 72 2 a 72 0 Queensland, 6 p.c., 101 17 6 1930-40 103 15' 0 Queensland, 3} p.c., 1930 91 5 0 81 10 0 Queensland, 3 p.c., 68 68 1923-47 7 6 0 0 South Australia, 64 17 0 p.c,, 1930-40 . , 103 5 0 108 South Australia, 81 82 p.c., 1939 • . . 83 5 0 a 0 South Australia, 3 . 60 p.c,, 1916 or after 60 2 a 0 0 West Australia, 0 102 p.c., 1930-40 .. 101 17 6 2 6 West Australia, 31 0 p.c., 1920-35 . . 87 0 0 87 0 West Australia, 3 84 p.c., 1915-35 .. Tasmania, 01 p.c., 83 12 6 0 0 103 1930-*0 103 0 0 0 0 Tasmania, 3J p.c., 83 1920-40 83 5 0 5 0 Tasmania, 3 p.c., 79 0 1020-40 . 79 2 6 0