CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXII, Issue 18674, 24 April 1926, Page 12

CHRISTCHURCH STOCK EXCHANGE.

ASHBURTON MARKET.

. "We have lost a great deal of husinen ia the North Island thia season," stated a local grain merchant to a reported yesterday.

Since the commencement ot the season pricei for most .produce 'linen, particularly oats, 'have shown an easing tendency, and ! during- the past few days all classes of oats have taken a further drop. Up io the present time North Island merchants have been purchasing their supplies ■ from otitside of the Dominion, and consequently southern oats were neglected. However, values are now down to tho 'level which will permit business being done with- the .North Island, and prices should be more stable. The ; quality of wheat .now. offering is much betI ter in condition, and a fair quantity is now changing' hands at. the fixed , prices. - Australian flour has firmed -in price, bat «Ten now this can be landed at North. Island ports at about the same price of the southern product. As far as fowl wheat is concerned, thgre is still' very ; little doing, the North Island having plentiful supplies on hand. So far Auckland is not operating to any great extent on. the South Island potato market,' and . apparently supplies are still coming from their own district. Peas remain steady at late rates. The price of linseed is very low compared to last year, but as far ap this district is l concerned, it does not affect it to any extent, as there ia very little grown here. There still continues to be little activity in' either the cocksfoot or ryegrass market. Chaff has not yet recovered, from the recent drop owing to tho abundance of green. feed. The following prices are quoted on trucks, country stations, sacks extra unless otherwise stated: —Milling wheat, Tuscan 6s Bd. Hunters 6s lOd, Pearl 7s, all f.0.b.; oats, a Grade Oartons 3s 6d to 3s 7d, B's.3s 3d to 3s 4d, undergrade!! Bs, Algerians 3a 7d to 8s 8d for good quality, feed 3s, Duns 8s 9d to 3s lOd for good, dark, heavy quality, medinm 3s 6d, feed 8s to 3s 3d; linseed £l3 per ton for f.a.q.; perennial ryegrass 4s for the best quality, 3s to 3s 3d for Western Wolths and Italian; cocksfoot 6dto 7d per lb for good samples; partridge peas np to 6s 3d per bushel for No. l's; barley 5s per bushel for good quality, 4s for feed; potatoes, f.a.q,, Whites up to £5 15s, f.a.q., Dakotas £5 10a per ton,; chaff up to £5 5s per ton for good, bright oatsheaf. REDISCOUNT RATE. (ar CA.Bt.I-PRESS association—corrauGM.) (AUSTRALIAN AMD S..S. CABLE ASSOCIATION.) (Received April 23rd, 7.5 p.m.) SEW TORK, April 22. The Federal Reserve Bank of' New: York has announced a reduction in the rediscount rate from 4 to 3) pet cent. HIDES. (Kceivad Av»ril 23r<3, 10.5 p.m.) MELBOURNE, April 22. The hides market is dull and irregular. LijhU and mediums declined Id and kips ;,-l, other classes being unchanged. « SHARES. (Received April 33rd, 5.5 p.m.) LONDON, April M. P. and O, Deferred Stock i« quoted, at m 5. CLEARING SALE REPORTS. J one?, McCroatie Company, Ltd., report Laving held successful clearing rales on account of Mr McGee, on the premise*, St. Andrew's sqnare, on account of Mr* J. R. Devereux, on the premises, Linwood avenue, on account of the beneficiaries in the estate of M. M. Grofski, on the premises, 'Williams slreet, Papa Qui; on account of various owners; and on account of whom it may concern', carpets and nigs, in the firm's room*. The' following were amongst the prices realised:—Oak cabinet grapiophono £2O, carpet £6 13s, ditto £5, chesterfield £G 10«, sideboard £8 lOe, dining table £5 10b, dining chairs £7 12s, carver £2, secretaire £4 los, hallstand £7 15s, essy chair £3 IDs, easy chair £3 10s, dinner set £4, oak duchesse £5, wardrobe £5 13s, duchesae £5 Bs, shaving cabinet £2 2* 6d, oak bedstead £lO 9s 6d, mission couch £4 15a, morris chair SA 15s, extension dining table £3, suite £9 10s, sideboard £7, rug £2 2s Gd, wardrobe £7 10s, upright grand piano by Brunner £37 10s, upright grand piano by Haake £47 lOe, Axminsfer carpet £2, ditto £l6, lawn mower 33#, linoleum £B, wardrobe £7 10s, duchesse pair £7, wardrobe £4 10s, settee £2 10s, chesterfield £8 10s, easy chair £3; siSeboerd £5, bedstead £2 15s, Wilton carpets £lO 10s, £B, £8 Bs, £B, £9, £8 lbs Arminster c*rpets £lO, £6, £6, £B, £6, £8 10s, £« 10s, £6, hall runner £5, small rug £3, Telvet pile carpet £5. —4

OTHER EXCHANGES.

(nasi AssocuTioi tbukmuxs.) AUCKLAND, April 23. Sales—Union Bank of Austratia, £ls Is; New Zealand. Guarantee Corporation, 9s 6d; Auckland Gas Contributing,' 8s 64; Kempthome,' Prosier, 68s; Taranaki Oil, lis; Alburnea Consolidated, Is 8d; Kawarau, 7s 2d, 7s 3d.; New Waiotahi (contributing), 0s Bd. j ' DONEDIN, April S3. | Sales—Kawarau, 7s Id four), 7a. 2d; | Westport-Stockton (pref.), 2s 8d; 5 J per cent. Soldiers' Inscribed. (1988), £99 10a; Sales Reported-—E.B. and A. Bank, £7 16s Australian Bank of Commerce, 32a 9d; New! Zealand Refrigerating (paid), 17s 6d. OXFORD STOCK MARKET, There was a heavy entry of sheep at the Oxford fortnightly sale' on . Thursday, the total being 3724, and a big proportion was stores,' the fats being 1012, the bulk of which werelambs, andmostly of good quality, and sold at current values. The market was brisk. The entry of fat wethers was.very small. The values were:—Prime heavy lambs 28s Id to 30s Id; medium weight prime lambs 26s to 27s 7d, light and Inferior lambs 23s lOd to 25s 6d, extra prime fat ewes 20s 6d, medium fat ewes to 18s. lid, light ewes 14s lOd to 17s 2d. Good fat wethers sold up to 28s Bd. ' The sales made were for:— Fat lambs—W. and J. W. Ivory 25 at 27s Id; W. and M. J. Ivory, 10 at 26s lOd; A. Cederman, 11 at 23s lOd, 71 at 25a 2d; W. Ryde, 26 at 28s Id, 42 at 24s lOd; R. Vallance, 37 at 25s 8d; E. Lasson, 170 at 28s 9d; A. Meyers, 74 at 27s lid; G. E. Youngman, 2 at'27a 7d; H. G. Rossiter, 25 at 24s 4d; K. C. Taylor, 44 at 26s 3d; Plachatsh Bros., 11 at 80s Id; G. Winter, 21'-at 265; 3. Bluett,. 52 at 28s; H. Martin, 68 at 27s i9d; A. Palmer, 20 at 28s 6d; R. P. Meyers,13 at 25s Id; Miss R. J. Winter, 34 at 25s 6d; J. Allen, 39 at 27s 6d; B. Hehrteas, 10 at 57s Id; J. Waller, 25 at 27s lOd; A. P. Fantham, 11 at 24s lOd; G. Brown, 9 at 245; C. Bitmead, 7 at 28s 7d; A. Henderson, 36 at 25s 4d; C. C. Early, 15 at 265; W, Waterman, 25.at 265; H. J. Tents, 14 at 26s 7d, 6 at 28s 7d; A. Henderson, 18 at 24s 6d. Ewes—J. Povelk, 27 at 16s 4d; R. P. Meyers, 27 at 15s Sd; A. Fantham, 14 at ; 14s lOd; W. Farelly, 4 at 15s 10d; J. Bennett, 14 at 17s lid; Miss Winter, 12 at 18s lid; G. Brown, 12 at. 16s sd; T. Doody, 8 at 16s lid; G. Winter, 10 at 18s 4d; ■ E. Mehrtens, 11 at 18s lOd; Plachstsh. Bros., 9 at 29s 6d; K. D. Henderson, 16 at 18s 3d; H. J. Tents, at 16s 7d; W. Ryde, 35 at 16s Id; R. Vallance, 18 at 17s 2A; F. Pickering, 50 at 16s lOd; A. Meyers, 15 at 16s 7d. "Wethers—H. J. Francis, 14 at 26s lOd; 0. C. Early, 4 It 28s Bd. Stores.—The entry was fairly well, mixed, the larger proportion, however, being four, six, and eight-tooth ewes, for which there was a fair demand. These sold np to 29s 6d, two, four,' and six-tooth ewes. sola to 26s 6d, K.m. ewes 17s 3d to 21s Bd, ballbred ewe lambs 23s 7d to 28s 4d, wether lambs 15s lid to Ids 9d; store wethers, four aMd sixtooth, made 26s lOd, The .lines, sold were:—(299 four, six,'and eight-tooth ewes. 28s; 61 two, four, six, and eight-tooth 26s 6d, 808 at 295, 18. a.m. ewes at 21s 3d, 30 at 17s 3d, 176 four, six, and eight-tooth three-quarterbred ewes at 29s 6d, 400 wether lambs 19s 6d to' 19s 9d,.56 at 18s lid, 220 ewe lambs 28s 4d, 62 nt 17s Bd, 25 at lis 6d, 103 halfbred ewe lambs 28s. 2d, 257 at 23s 7i, 27 four and six-tooth wethers 26s lOd, 84 four,, six, and eight-tooth ; at 25s Id, 26 two-tooth wethers at 24s 4d, 7 B.L. rams at 2i gng to 3gns, 4 one-shear rams 2Jgns to 3gns, 3 oneshear Corriedale rams at 2Jgns, 1 S.D. twoshear ram at-7gns. There was an entry of S3 head of cattle. Springers made up to £lO 10s, dairy cows from £a to £lO, store cows up to £3, young heifers np to £3 10s, agd 18-month steers £4: There was practically no demand for small pigs. METALS (Received April J3id, 10.5 p.m.)LONDON, April 92. Copper—Spot £57 Is 3d a ton; forward £57 18e-9d. Lead—Spot £2B ts > ton; forward £2B l&j. Spelter—Spot £32 6a 8d a ton; forward £32 10s; Tin—Spot £2Bl 2s 6d; forward £270 2s 6d. Silver—Standard, 29 3-16 dan Of, fine 31Jd. . GRAIN AND PRODUCE. MELBOtntKE. April ». Wheat is firm at fie BJd to 6« 6d per bushel; farm era' lota, 6s 3{d to 6e 4d. Oats—Milling, 8s lOd; fe«d, 8» 3d. Barley—English, 4s to 4s Ci; Cape, is to 4s 2d. • Potatoes—£lo to £ll per ton. Orioas—£lß * too..

BANK OP ENGLAND RETURNS. (»T CASLX—»***» ASSOCUTIOK—CO»t*'.O*T.) {kVmUAAH **o *.S. GiSM ASSOCUTtOX.) (Received April 23rd, 8.5 p.m.) LONDON, April 90. The following are the Bank of England xtturns for lh» *e«k end«d Wedn®td*y ;—• lata* Department. Note circulation m m 1 5®>JSl , 2S2 Not» in reserve X »» 662,000 ToUl -. mi M IW.SM.OOO GoTernment debt m •• J1,015,000 Other aecuritiee ... >s 8,785,000 Gold coin and InilKon »« 148,0*3,000 Total .« w h* 164,823,000 Ban kin* Department. 4 Proprietors' capital *h %• 14,554,000 R«et .. .. n». •< 8,176,000 r»ibiio depoaita ~ m> 12,869,000 Other depoeita w. 103,196,000 Soven-day *nd other b;lla »• 5,000 Totcl h. ~ >• 133,300,000 GoTermnent wcuritid •« ■« 59,070,000 Other seeuritiea .. »• 68,081,000 Kotea in xe«or7e .* "f'S5?'2S2 Gold and eilrar coin mi v+ i,336, pop ToUl .. •• ..•• 133,969,000 Proportion or reserve to liabilities 22.40 Short loan* aro quoted at 4| pat cent., three months' bills at 41 per cent. i

FOREIGN EXCHANGE kATES. ! . LONDON, April 33. Th® esehang# rates aret— . . Pat. April 19. April 33. Paris, fr, to il .. 33,2iJ 145.55 145.87 Brussels, fr. to £1 £3.221 132.45' 196.87 Oslo, kr. to *1 18.159 22.17 32.47 Copenhagen, kr. toil 18.159 18.58 18.59 StMftholm.kr. to 18.159 18.16 18.17 Berlin, Reichmarken to £1 .. - -20.43 , 90.41 Montreal, dol. to.£l 4.8624849-10 <-8&i New York, dol. to «l 4.86J 4«6i X-16 Borne, lixe to £1 .. 25.33* 120.81 120.80 Yokohama/ at. to yen. 54.5 38J' , 28| C Jcutte, st to rpe 10 to xoid £ 17| 17} Hone Kong,. st. to dol. ■ * -.261 --■ 261. Amsterdam, ft. ..,,.13.1074 ,19.121 1348 BataVift .• ..—. .. . 19.10 I" 13.00) • Governed by prica of silver.

TONS OF; GOLD. i; V

. -—^ WAITING TO BE liIITEJDr' / While tlw - records of the old dredge, which prospected the "Golden Terrtoe' Claim on the • famous Shotoycr J rivw in 1898 can be accepted for'estimating earnings of a modern dredge on .a con« servatiye basis, they fall very short of what will be done with a'modern dredge of the _powerful type ;that Will be built by "The Golden tended Gold Dredging Co., Ltd. While the old figures establish beyond dpubb returns that will alone pay hiiidsome dividends, they fail for several rMaons to give even an idea Qf th? colossal wealth that may be won once difedging operations commence, ' To start with, the old dredge coiild not reach down belbw 15 foet—-not nearly far enough to reach the* richest deposits of gold which always sink to the. lowest level. Over and over again in ,the old days you heard, the opinion—' 'lf we could only get to the bottom we would get UNLIMITED GOI4>l" There has never been any doubt-that the gold is there—literally -tons of it--and the modern dredge wiirget it. Tuien much of the fine gold was lost through, whit are to-day, crude recovery methods. Again| there was the cost of operating. WTiile the old dredge could only handle a third of the material tliat will be handled -by the new electrical dredge, the operating costs were threo times greater than they will be to-day. Coal alone cost £45 a week, and in addition, three shifts of engine-drivers and stokers had to be employed 1 It is impossible to fully estimate the enormous richness of the bed of the Shotover river, but returns should eclipse all previous records. For this reason, those who buy shares now will bo the ones who will make the* big money. As an investment. The Golden Terrace Extended -Gold Dredging Co., Ltd.,-is unique. Three distinct sources of revenue await -all who invest: (1) The returns from the fine gold which is diffused throughout the bed and banks of the Shotover; (2) The returns from each rich deposit as it is found, and (3) the . returns from increased share values. The steady demand for shares, which havo already passed the allotment mark, make it desirable that all applications should be 6ent in as soon as possibler-if you have not yet obtained a prospectus, do- so to-day—-call on the Jjocal Brokers.' J. S. Day and Co., National Chambers. 161 Here-, ford street (opposite Union Steam Ship Company), Cnristchurch, If ■ out of town, write.

YESTERDAY'S TRANSACTIONS. Saies repcrted-Oomm. Bank of Au*t. 39s IGd; Union Butk, /IS ]•; 2T.25. Ibsopanoe, SS* 3d (three p»rce! s), Howard, Smith, 32a 6d ' Beath and Co., Jls »d; K.Z. Guarantee Corporation, 9« lCd. Sales on 'Change—Goldsbrough, Mort 4% M; y.Z. Rsfrip. (contr), ?• >d (two parcel*); Chrietchurch Gas , 28s Pd. LATEST QUOTATIONS. I/trt Week. Ldsi ie*r. Buyws. Sellers. BuTers. Sellers. Ba^er*. Sell en. n.z. government debentures4j per cent. Inscribed, 1938 and 1939 96 10 0 — — — •— 4j per cent. Bonds, 1930 96 V2 6 —■ — — — — 44 per ceut. Bonds, 1936 96 10 0 —■ 96 5 e — — 9: IS 0 5 per cent. Bonds, 19-27 98 6 0 — 96 5 0 — — — 5J per cent. Bonds, 1933 99 15 0 — 99 10 0 99 16 0 — 101 5 0 OTHER DEBENTURES— Chriaiclnirck Drainage, oj per cent. 99 3 6 — ; — ■— — — N.Z. Breweries, Boudi 1 6 0 — 1 6 0 — — 1 a 0 BANKS— Aust. Bank of Comm. 1 12 4 1 12 8 1 12 6 1 i-a 9 1 17 6 Australasia. la 19 0 14 1 0 — 14 2 0 — — Coram, of Aust. i 10 8 1 11 0 1 10 7 110 9 1 7 6 18 0 Comm. of Aust. (pref.) 6 16 6 7 0 0 — 7 0 0 — — Comm. of Sydney — 26 10 0 5S S 0 26 0 0 — — K., S., and A. (cam div.) .. 7 16 6 — 7 lo 0 7 16 6 — — National of Australasia (£10 paid) 18 0 0 18 4 0 — — — — National of Australasia (£5 paid) .8 in 0 9 1 0 6 18 0 9 0 0 7 Ifi 0 7 19 6 jStw South Wales 44 13 6 45 0 0 41 11 0 44 .8 0 — 41 7 « Royal (£1 pd. enm div.) — 1 16 3 — 1 16 6 — — Union of Aust. 15 0 0 IS 1 0 IS 0 0 15 0 0 14 1 6 14 8 0 Victoria (ord.) 8 6 0 8 7 0 8 2 a — — — Western Australian (cum div.) 2 16 6 — 2 16 0 2 17 0 2 12 0 — INSURANCE — National w ». 3 19 3 4 1 0 ft 18 6 — 8 10 9 New Zealand .„ .. 1 18 5 1 18 ft 1 18 10 1 .9 4 — — Queensland ~ — 2 18 0 2 12 S 3 13 0 — — Standard 2 13 0 — — — a 1 3 — MAX AND AGENCY— Dalgety and Co. IS 19 0 15 18 0 IS 9 # 15 S 0 15 19 6 Goldsbrough, Mort 2 8 4 2 a K 2 8 0 2 8 a 9 7 3 9 7 9 National Mortgage 1.. — 4 0 0 a 15 0 — — 8 18 6 SHIPPINGHoward, Smith 1 12 S 1 12 fi 112 8 1 12 6 1 15 3 — Huddart-P&rker 2 4 3 2 6 0; 2 4 0 2 4 9 — — P. and 0. Deferred Stock 233 0 n — 230 0 0 2J7 0 0 — — Union (pref.) 1 0 3 — — _ — — ' FROZEN MEAT— N.Z. Refrigr (£1 paid) 0 17 3 0 17 a 0 17 3 0 17 10 1 0 8 — N.Z. Refrig (contr.) „ 0 8 2 0 8 9 0 8 2 0 8 8 0 10 3 0 10 6 WOOLLENS— . Kaiapoi (17s paid) 0 11 10 0 12 4 0 10, 9 0 11 8 — — COALWestport .. _ 1 18 0 1 16 « 1 15 3 1 IS 11 1 12 9 1 13 0 Stockton (pref.) A 0 2 6 0 3 0 0 2 4 0 3 0 — — GASAuokl&nd - m 1 2 0 — — — — •—> Chrietchureh m 1 '3 9 1 4 1 1 8 9 1 4 0 — — BREWERIES— Crown .. M 1 0 6 — 1 0 0 — 1 14 9 — Manning (cam dir.) — 2 1 6 3 2 0 3 3 « — 1 19 0 New ZeaJand '2 17 4 2 18 6 3 18 3 2 19 0 1 18 9 U9 fi Staples 1 18 0 2 0 0 2 0 0 2 0 4 — — Ward w 2 0 0 2 1 9 3 0 6 S 8 0 — — CEMENTS— 'Wilson's M M 1 11 8 1 IB 6 1 16 0 — — TIMBER— Bartholomew .» 1 9 0 — i a 0 — — Kauri .. v.. 1 13 4 1 13 8 ■ 1 18 8 — 1 13 9 MISCELLANEOUS— B.A.W.R.A. 0 12 2 0 12 8 0 12 3 — 0 11 4 0 11 7 Be&th and Co. 1 11 3 1 11 6-1' — — 1 12 9 1 18 6 Electro. Zino (pref.) „ 1 15 3 1 16 0 1 IB 8 1.15 11 1 7 0 18 0 Electro. Zinc (ord.) «. 1 14 8 1 H 9 — — — — 1 Henry Jones O»op. .. 2 6 9 3 1 3 9 1 0 ■ — «■*. Mason, Struthers (£1 paid). ... ~ 1 1 6 1 2 3 T" — .. — r • N.Z. Drug Co. 3 7 6 3 8 e —* '— 3 6 0 -8 7 6 N.Z. Farmers' Fertiliser 4 15 0 , — . — — — N.Z. Milk Products 1 11 0 1 15 0 . — — 1 7 9 — N.Z. Paper Mills .. 1 1 0 12 6 —■ — 1 0 e — N.Z. Sugar of Milk — 1 10 0 — — — . — Taranaki Oilfields 0 10 A 0 IS 0 —• — — 19 0 Whitcombe and Tombs 8 7 6 8 10 0 — — MINING— Kawarau u 0 6 S 0 7 0 0 6 4 0 6 s . — Mt. Lyell . . - 1 5 8 — 1 .6 8 1 5 9 ■ 1 1 0

GOVERNMENT SECURITIES. LONDON , April M. Th# following are the latest quotations for Government securities, compared witk the prices ruling on April 15th:— April 15. April 23. & a. d. £ ». 4 Imperial console, 2J p.c. .. .. 54 10 0 64 15 0 Wu Loan, 8 p.o., 192947 f. •■ 101 7 6 109 0 0 War Lo»a 8i p.c, 199S28 .... 87 10 O 97 13 6 CoDTersios Loan, fti p.o.. .. .. 74 17 < 7* ft 0 Commonwealth, 6 p.e., 1931-41 .. ioa IS 0 103 17 « Commonwealth, B| p.o., 1922-27 .. .. 103 0 0 103 0 ft New Zetland, 6 p.e-, 198W1 .." ..107 10 0 107 15 0 New Zetland, 4 p.c, 1929 .. .. 97 7 « •5 17 0 New Zealand, 8} p.o., 1940 .. ..' S3 10 0. 84 13 0 New Zealand, 3 p.e., 1943 .. 75 0 0 75 2 « New South Wale*, 6§ p.c, 193040 .. 103 15 0 101 ft 0 New South Walea, 6 p.c, 1930-40 ..108 7 6 100 ft 0 New South Wales, 5} p.c, 1922-82 .. 102 0 0 105 5 ft New South Walea, 4 p.o., 1938 .. 91 0 0 91 B ft Victoria, Si p.o., 1930-40 100 6 0 100 0 0 Victoria, 4J p.o., 1931-36 96 0 0 95 17 ' 6 Victoria, 8 p.c, 1934-40 70 ,0 0 73 0, ft Viotoria, 8J p.c, 1920-48 77 T 6 77 10 0 Queensland, 6 p.o., 193040 .. -103 10 ft 103' 7 f Queensland, 8) p.o., 1930 .. .. 93. S <j 93 7 6 Queensland, 8 p.o., 192247, .. .. 68 10 ft,' 6ft T 6 Sooth Australia, 6} p.e.,' 1980-40 .. .. 108 10 ft 104 fi 0 South Australia, 8}pje., ,1939 .. .. 83 18 0 63 17 6 South Auetralia, 8 p.c, 1916 or after ... 60 0 0 eo o ft Wast Australia, 6 p.c, 198V40- '-..■ .. 103 13 e 108 0 0 Wait Australia, 8) p.e., • ' 1930-85 ., ., 86 13 6 8510 ft Wert Australia, 8 p.c, 1915-35 .. .. 83 IS ft 88 O 0 Tasmania, 6J p.e., 198040' .. ..108 13ft, 104 3.6 Tasmania. 81 p.c, 192040 .. 83 0 0 88 0<l Tasmania, 8 p.c, 1M0- • - . ■ ...-, 40 .„■ „. 78 15 0 79 0 0 Victoria, 6 p.c „. ' — 98 10 0 N.S.W., 8 p.o. , !», — 82 10 0 N.S.W., Si p.c. mk *- 74 7-6