CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LXVI, Issue 20039, 22 September 1930, Page 12

CHRISTCHURCH STOCK EXCHANGE.

SATURDAY'S TRANSACTIONS.

There was a moderate turnover of diversified business on call on Saturday morning, the outstanding feature being the general weakening in the prices of Bank shares. Transactions, exclusive of vestibule business, included: —

100 Australian Bank of Commerce 60 Union Bank of Australia.

200 N.Z. Refrigerating (£1 paid). SCO N.Z. Refrigerating (10s paid) 200 Tooths Brewery. 100 Allied Motors. 200 British Tobacco. 100 Mb. L'yell. 1900 Mahakipawa Goldiields.

Australian Bank of Commerce shares eased to 18s 10d, closing quotations 2d on either sido. Commercial Bank of \ustralia shares had sellers at lbs 6d, buyers at 16s. English, Scottish, and Australian Bank shares dropped to £5 7s (3d sellers, £5 6s 6d buyers. National Bank of Australasia fully paid shares were offered at £ll 17s (3d, buyers at £10 —the £5 paid shares weakened in sympathy to £5 16s 6d sellers, £5 13s buyers. National Bank of New Zealand shares dropped to £5 9s sellers, £5 3s Gd buyers. Union Bank of Australia shares eased to dealings at £9 15s Od, market closing £ y 15s sellers, £8 Ills 6d buyers. Dalgety and Company shares, which realised £8 19s on Friday, were offered at £8 17» buyers at £3 lis. New Zealand Refrigerating fully paid sharos fell to 8s Gd and the 10s paid to 3s. Unsupported sellers of VVestport Coals reduced their limits to 29s 6d. Tooths Brewerv shares relapsed to dealings at 22s 7d"and 23s 6d, closing quotations 22s 6d buyers. 22s 7d sellers. Allied Motors were unaltered with business at 6d and further buyers at that price, sellers nfc Bd. British Tobaccos were released at 325, market dosing 31s lOcl sellers, 01s 50 buyers. Mount Lyells were placed at 20s Id, market closing: weaker with sellers at 19s 9d, buvers at 19s 7d. Mahakipawa Goldfieids mharcs were firm with dealings at sd, and there were further sellers at that figure, buyers at 4?d.

i BARTHOLOMEW TIMBER CO.

DIVIDEND MAINTAINED.

[THE PBBBS Special Service.]

AUCKLAND, September 21

The twenty-fifth annual report of t.'ie Bartholomew Land and Timber Company, Ltd., says that the profit on the year's transaction, after making provision for depreciation and income tns, amounted to £4168, to which has to be added the hah.nee brought forward from last year, £BO I. Ded..cvinr the interim dividend of 4 per cent, paid in April (£2000) there remains the balance of £2975. From this the direr-tors recommend the payment of a final dividend of 4.per cent., making 8 per cent, for the year, leaving a balance to carry forward of £975.

The paid-up capital or the company is £50,000. The reserve account at last balance was £15,000, and creditors and bank £8:324. Assets at that date were £76,471, which included freehold property £32,341, tramways and sidings £16,470, timber stocks £■'>7s7, and debtors £7958. In 1928 the net profit was £3739, and in 1329 £4050. Including 1927 and since a dividend at the rate of 8 per cent, has been paid, and in and 1926 10 per cent. BRITISH INDUSTRIES. EXHIBITION IN NOVEMBER. For a week—from November Bth-to November 15th—the "Golden Arrow and British (U.K.) Industries Exhibition" will be held'in the King Edward Barracks and any retail firms, wholesale houses, or indent, agents, irrespective of whether they are members of the British (U.K.) Manufacturers' Association, providing they handle lines manufactured in the United Kingdom which comply with the terms of preference certificates are invited to exhibit at the Exhibition. Applications for space are being received until September 30th, when the plans will close, and the secretary is Mr II A. Barrett, T. and G. Buildi"S»- ; • WAIMATE DAIRY COMPANY. ANNUAL MEETING OF SHAREHOLDERS. The annua! .meeting of shareholders of the Wairaate Co-operative Dairy Company was he! 4 on Saturday, Sir H. H. Meredith (chairman of directors; presiding over a good attendance. In moving the adoption of the report and balance-sheet, Mr Meredith said ho did bo knowing that the year jjist past had been unfavourable from the sellers' point of view. High advances at the commencement of the season given by the merchants in* London had given the company a'false impression of what it could expect to receive for its butter, and by the time the butter had arrived in London prices had dropped from 170s per cwt in October to £3 low as 124s per cwt in April. It had practically remained-at the latter liguro since. • Unfortunately, every, factory that had consigned had lost money on the buifc of tho shipments. The dairying industry would have to faca a period of depression lasting probably for several years. Suppliers would have to be prepared to accept much lower advances than those ruling in tho pact. It behoved dairymen to" Veep'only those, cows that were profitable, and he would like to put in a word for herd-testing. The only way to know the value of cows was to have all herd? tested, and In a fow years the standard could be raised quite appreciably. It cost no more to feed n good cow than.U'did to feed a poor one. The amount of butter manufactured Imd.beqn .359 tons,' a., dfcreaso of 23 • tone, owing to tfie'dry autumn. Ninety per" cent, had b«eij (prsded eii^erfine.The.!company was now shipping its butter' from- Tiraaru in place of Dunedin,-having been assured of adequate shipping by the Control Board. This-would mean a ijood saving in railway freights, booides asFistinC the local port. Mr Meredith added tfiat tho 1o«b shown in tho balance-sheet, of £2213 16s od, was net all made io the year.under,review. The loss in the ' previous season was £IBOO. Tho company had attempted to "work up a good local trade, and the profit "on this bad practically wiped of! the loss On the butter shipped. Home. In many directions economics had been made in general; expenditure. Mr A. Bringing. seconded .the motion. In answer to Mr Hyland, the chairman said authoritative reports as.to the prospects for dairy produce were very pessimistic. Tho gerteral impression was that prices would go lower. ■ - The report and, balance-sheet .wore adopted.. Mr Bringans was re-elected as a director for tlie coming year. Mr Burgess was re-appointed auditor. Mr Hunter moved a vote of Jhanks to tho directors for their worlc the year, and this was carried unanimously. ■ The chairman mentioned that through the reduction in railway freight, in consequenco of the company shipping its butter from Timaru, and through the übc of a new boiler, a saving <jf £750. woiiTd be effected in tho coming soason. MINING. OTAGO SLUICING VENTURE. "The "Lake W'akatipu Mail" says: "We have been reliably informed that a company baa been registered, with a capital'of £20,000, to work tho Moonlight. The operations will extend over an area of about 300 acres, situate on the left bank'of the Moonlight, between Dead Horse Creek, and the old Moonlight No. 2 claim.. The method of working will be sluicing and elevating. It is anticipated that' there will be ample water for sluicing all the year round With judicious qianagement and expert knowledge of sluicing and elevating, thiß enterprise should prove a highly .profitable venture for investors. Tho Moonlight has been proved'beyond question to be'one of tho richest in alluvial gold in the district. At tho bottom end sluicing has been carried, on for some years by a Gore syndicate under tho supervision of Mr J. Softer, and although the returns have not been published, it can be authoritatively- staled that the claim (under restricted conditions) has yielded excellent rcturrs. It is on record, too, that the old Moonlight No. 1 won a large quantity of gold in this field. Tho Moonlight (Jold Mining Co. was. registered some weeks ago with a capital o£ £20,000. FROZEN MEAT. The Bank of Now Zealand received the following advice from its London office as at the cloße of business th!s weik:Froien Meat—There is a ' more ■ active demand for wether mutton owing to shorter' supplies from the Argontine. Tho market is Arm with on upward tendency. Thore is a better enquiry for ewes. The market for lambs is firm, and there is a good demand. There is a fair demand for beef. Vor lb. d. d. V> others— Light .. 5 to 6 Heavy . . . . 44 to 5 Ewes . . .. SJ to 32 Lambs—2's . . . . 8 to 83 B's . . . . RJ to 82 4'b . . Bjj to Sj| j Seconds . , 7 to 7J Ox hinds .. 5 to sij Ox fores . . 3 to 3i I Cow hinds . . 4 to Cow fores .. ( . . 2J to 3 j 'j CLEARING SALE. j i Mesurs H. Hatso;i and Co. conducted, at Duvauchelle Bay saleyardti, a clearing sale on behalf of Mr C. BelHitgham. Le .Bon's Buy. Although the cattle showed signs of the hard winter expoi-ienced, a keen demand rcr.iain?d right throughout the sale, and resulted in 36 cows averaging £8 17a.- Other Bales included:—(s heifers, averaging £6 ISs' id: l-t , yearling heifers, £3 7a; 14 pearling steers,' £3 7s; Friesian bull, £8; s.v.v r.-.-.d littor, £5; 1 sow, £8 10a; porter, £2 15b; separator, £10: I hot water tank, £5. PRICE OF COLD. rates absoimauox —cv elects. > r YEtSiiIiPE—COFYEJGBV.J LONDON. September u> Uoid ;s iu.ot#d at 85s Ogd a Sao ounce. ''"

OPOSSUM SKINS. Dalgety and 00., Ltd., have received from thetr Dunedln office the following report on Friday's sale, this being tha last sale of tho season:— : "Opossums—Eighteen thousand offered. Ours, fourteen thousand. Keen demand. Prices threepence to one shilling higher. Top prices: Blacks lis, browns 6s 3d, blues 10s, greys 7b lid, rods 6s sd. Skins from your district averaged 5s 6d to 6b 3d." . SALE OP PROPERTY. Jones,_ McCrostie Co., Ltd.,. sold by public auction in their sale rooms on Saturday on account of the mortgagees, the property situate No. 217 Western terrace, Beckenham comprising 25b peroheß, with the residence of 4 rooms, for £6lO, to u client.

LONDON MEAT PRICES. (UXITED PH*93 ASSOCIATION - BT BLICTBIC :; *BUKG!WPH—COPYRIGHT.) (Received September 21st, 5.5 p.m.) • LONDON, September 80. Tho weekly quotations for the undermentioned classes of frofcen meats, based on actual soles of wholesale quantities of carcases of mutton or lamb or quarters of beef delivered to the Smithfleld market and/or exLondon stores, have been compiled as follows by the Quotations Committee, Smithfield. To arrive at equivalent ex-ship valuos }d per lb should' be deducted front the prices quoted below. Quotations are average for the week, and are not lo? ■elected lines, but for parcels fairly representative of tha bulk of the shipments ndv/ on offer :<■— NEW ZEALAND SHEEP. d. Canterbury and North Island selected crossbred wethers and maiden 57 td 641b . . .. 5J 65 ro 721b .. . . ..5 North Inland—65 to 721b .. . . .. 68 57 to 641b .. . . .. 5 65 to 721b .. . . .. 4S Ewea ; 48 to 641b . . 8* 65 to 721b .. . . .. 38 AUSTRALIAN SHEEP, First quality crossbreds and/or merino wethers — 40 to 651b .. .. .. ■ 4} Second quality: 80 to 651b ... . . .. 4$ Ewes: 30 to 551b . . . . .. Si ARGENTINE SHEEP. First quality crossbred wethers — 48 ro 641b .. ~ .. 5 05 to 731b . . .. .. 4J Over 721b . . . . 4 PATAGONIAN SHEEP. Wethers and/or maiden evree-r-Under 501b .. .. 4i 60 to 601b .. 4$ Ewes: 40 to 501b A . . .. 83 NEW ZEALAND LAMBS. Canterbury— 4lijfe|lF> Second quality: Average B3lb . . .. 7 J Selected North Inland Brands— Second quality: Average 311b .. 74 AUSTRALIAN LAAIBS. Victorian—Second quality: 861b and under None offering Other States—Second quality: 861b and under Nono offevlng AH States — Third quality . . .. 61 ARGENTINE LAtfBS. First quality—--43 to 501b .. .-. .. 58 PATAGONIAN LAMBS. . First quality: 38b and under Noi;e offering 87 to 421b None offering .Second quality: .. Average 801b .. .. 6J

NEW ZEALAND FROZEN BEEF. d. Ox forc6— 160 to 2201b ' None offering Ox binds— J6O to SSOlb Nona offering ARGENTINE CHILLED BEEF. . Ox fores — 160 to 2201b .. . . . . 45 Os hinds—--160 to 3201b . . ... 7J NEW ZEALAND PIGS. First quality 60 to 1001b . . .. ■ .. 88 101 to 1201b .. .. .. 8$ Others unchanged. LONDON QUOTATIONS. (Received September 21st, 5.5 p.m.) LONDON, September '2O. Friday's closing prices were:— Cotton—October, 5,87 d. Rubber—Para, 6jd; plantation smoked, 4d. Juter-S*Ptembor and October, £l6. Hemp—None offering.: Copra-r-October and November, South Sea and plantation RabaUl, both £l6. Linseed Oil—£3l 10s. Turpentine—36s 3d. Osmiridium —Unchanged. DAIRY PRODUCE. Messrs A- H. Turnbull and Co. are in receipt of the following cablegram from W. Weduel ahd Co., Ltd.. dated London, 19th inst.; — Butter—Danish 150 ato 152s (last week 1645), New Zealand unsaltnd i*6s to 150s (146s to 150s), New Zealand malted 127s to 180s (124s to 128s). Market steady. CheeSe —New Zealand white 75s to 76s (71s to 725), coloured 74s to 75s (72s to 745). Markdt firm. Canadian whito 77s to 80s (76s to 78s), coloured 78s to 80s {7Bs to 80s). AUSTRALIAN BANKS AND BAD DEBTS. Though, the banks bare incurred some bad debts as a result of the trade slump, their advances in practically every case have been adequately secured (states the Sydney "Doily Pictorial" of the 10th inst.). The proportion o£ actual lossos is infinitesimal. SOUTHLAND WOOLLEN MILLS. The liquidation of the above projected company, which was ordered by the Supreme Court on the petition of a number of shareholders, has resulted in a payment which leaves a loss of 10.85 d per share. Tho refund is somewhat larger than many expected. VICTORIA NYANZA SUGAR. Plantation cane crushed to date by the Victoria Nyania Sugar Co., Ltd., is reported of Excellent quality, and up to expectations, whilst the growing conditions continue to be satisfactory. Crushing commenced on July 24th. Progress in all branches of the cultivation side is being steadily maintained, and the supply of labour is adequate.

WAIRARAPA FARMERS* I CO-OP. ,

"DIFFICULT TRADING:" The directors of the Wairarapa Farmers* Co-operative Association:, Ltd., in s their thirty-ninth annual report and balance-sheet state that after providing for all expenses Of management, making full provision for bad and doubtful debts and depravation of «roek and plant, and for the payment of rebate on shareholders' purchases (commission goods excepted) at the rate of 2 per cent., there remains a profit for the year of £14,304 2s 7d. These figures reflect the extxaordinar ily difficult trading and financial conditions 'ruling during the last half-year. The first half-year having shown satisfactory results, there was paid in February last an interim dividend on preference shares of 3} per cent., being 3 per cent, for the current year and i per cent, on aecount of arrears. The umount now available for appropriation is */094 is 7d, made up as follows: Balance at July 81st, 1929, less appro priotioua authorised by last annual meeting, £2139 19s; add profit for year, as above, £14,304 2s 7d; making a total of £16,444 Is 7d; less dividend on preference shares paid in February, IU3U, £8750; leaving available for appropriation, £7694 is 7d. This the directors recommend should be dealt with as follows :~^Tr»ngfer to taxation reserve account, £1000; payment of a final dividend of 2 £ per cent, on preference share capital, absorbing £6250; the balance, after payment of directors' fees as may be authorised, to be carried forward to the credit of next year's accounts. The Board regrets that tbi> year the company is unable to pay preference shareholders the full dividend of 6 per cent, and the additional 1 per cent, of arrears as anticipated. • By strenuous efforts the ptofits from Bales of merchandise were well maintained, but a substantial loss was made in the stock and station agency business. This .experience was shared by most companies of this nature. Operations being entirely on a commission basis, the revenue was inevitably reduced on account of the low prices at which live stock, was turned over, and by the reduced offerings and low realisations of wool. Owing to the Seasonal nature of the business, expenses could aot be reduced in like ratio. Mu«h of the total is in the nature of fixed charges, and Other items represent expenditure made before the return? are known. Drastic economies in this de partment have now been made, which should have the 1 effect of rendering its operations profitable in future. With a loyal and efficient staff, any improvement in general farming and trading conditions would give better results. The directors desire to place on record their appreciation of the liberal as' sistance extended by the gotnpiny's bankers during this trying year; The directors retiring are Messrs Trevor Beetham, J. Caselberg, and V. E. Donald. They are eligible, and offer themselves fer re-election. - The gross profits last year were £45,477, and the net £17,570 (less directors' fees), a preference dividend of 6 per cent.; and the same as this year, was paid, Involving distribution of £15,000. No ordinary dividend has been paid since 1925. The reserves* last year were £6436. Tho ordinary capital was reduced in 1928 by £80,389. The paid-up capital consists of £250,000' in preference shares, and £55,08» is oidtoaqs,

BAWRA LIQUIDATION. r r TAXATION LITIGATION mV6I»t«S ? €363,282. The liquidator# of the British Australia W«ol:£nliutiui iiiotlttlts, LM. (tit _• dation), state, In their report'to £bstnbto : i . torie* for the year elided June 10th,th*»,4fcwr Ccaunot arrange -for the ftqal the assets until the determination Ofithe'tix- <. ation litigatiofi,'federal and State, inwUehv ; a sum of £863,282 is involved. , The. *wmf • before the Privy Council of the~ appeH jky. the Victorian State Commissioner %r!&uunot':i u was concluded en April Ist. -' The ieeerved , . decision cannot be delivered out 11 alter, the " opening of the law term on October 13th. , The liquidators will mftke public that deci-v; . ■ion And its consequences so aeon 'as tl»#y J are known, and steps hive bees already twn.. ' to. expedite the hearing of the VedwW «x«* ( : tion CommUlßOJler'tf appeal befofe* theHigV Court of Australia, which has intimated thst' - it would not hear the appeal until the "Privy Coupcil'a judgment had been delivered.The . date Of the annual meeting ol eojitrlbatoriei, which was necessarily deferred,' has jet to v be fixed. ' • 4 " The .liquidators' balance-sheet •& at June • 10th shows Asets amounting to £1.01.1,103, or £18,748 less than a year beforfe Tha holding of Australian 'Gotoftpiient bonds ~)ias', < been reduced by £82,964, but enndry. investments, including loans at call, are £25,000 , higher. The inveitmeftt at ieeuxity a*ai*|t - taxation claims is £ll,lßl higher, the Gqv* . ernmen* bonds earlnArked for' the purpoee being slightly lower on the year, but- the_tn-' terest accrued. being £13,418 higher. The provision for taxation is shown as a eontia - item of £868,282 among the-liabilities. The surpluses on realisation account tor the three years since the last distribution sow amount > to £100,012, that for the past ye«r being £4824. Receipts for the year totalled : £54,560, against £57,868 for the preriWß year, and comprised intereit, £53,566, Infer-. est adjustment l c6nsequeht on etty&ded 8 tats income-tax assessments £1487,"' and sundry receipts £562. Administration expenses dropped from £88,682 to £BB,ttß. JPrdvbloo ' for interest on outetsndinr toeome-tax eltetsments was £15,100. ' \ ' CHRISTCHURCH REGISTRATION. The following company *M Registered, last week:- „".•* tin".< A. A. Howes, Limited, Uttuktittr tfceet. V Ohristchurch, dealers In and manuff ctnrere >«f paper, etc.; manufacturers' ag4n.U, etc. £J§pi-'. tal, £BOOO In £1 Aires. Subscribers:^Asm A. Howes, Ohristehttrch, 1000 'fsOrjwl'. - shares; John T. Bitchle, .Wellington, /4fQO - fully-paid and 500 eontributing *hare>; Arß- - aud HcEellar, Ohristchurch, 1000 fully paid shares. ' * "" 'Y/s'-* 1 " '.■f ' 'i".i , " y i „L l ' i -ffiii;ii, l ,iiixm ' ; .'Cr*?^

XiATEBT QUOTATIONS. Buyc: •u. Senior s. X. 0. i i. £ o. d. N.Z. Oo\ eminent Debentures — 4i p.r cout. luicriboU, ' 19&3 ■ — lvA( a U ij ptr cent. Inscribed, 1'JC'J K> iO 0 100 o 0 44 iiee cent. Uoncls, 6 ia3a IV 10 0 J 100 7 li pur cont. Bonds, 1330 .. ' ' .. — 100 7 <i 51 per cent, ln&cnbcd, 1937 07 0 0 6i pi-r cent. IntcriUccl, 1932 'JS ]o 0 30 10 0 5J per cant. Inscribe:), 1033 IS 0 0 per coot Inscribed, 1033 and 190# 3D 10 0 ■ — 6j per rint. Sonde. 1933 and 193C so ia 6 — (j i.ur cent. 1 r.iicri Uid, 1031 100. 0 0 — Other Debentures— Uiuio, Ci per cent., 1945 i) 0 0 0 03 0 u N.Z. KcJrier. 6} per cont., 1935 01 '5 0 35 10 0 Booth, Macdonald, GJ per cent , 1932 es o 0 — ■ Banks— 8 Aust. of Commerce J 18 0 19 0 Comm. of Aust. 0 16 0 0 16 6 • Cotuiu. of Aust. (pref.) 6 8 0 6 9 0 tl., R., -and A. a 6 6 B 7 6 National of Australasia (±'10 paid) 10 10 0 11 17 6 National of Australasia (J?6 paid) .. .. 5 13 0 5 16 6 .National of .N.Z, .. & 3 6 5 9 0 New South' VaieB 80 15 0 SI 0 0 Ution. of. Aust. 8 12 t> 9 15 0 Insurance — A.P.A 0 3 5 0 5 3 New Zealand ' .. — 3 1 6 South British 3 15 8 2 17 6 Standard .— 2 17 C United .. .. — 7 15 0 Loan and Agency— Dalgety and Co. 8 11 0 8 17 0 Goldsbropgh, Mort 1 0 6 1 1 0 N.Z. Guarantee Corpn. 0 7 10 0 8 0 United Building (cum div.) .. 0 18 3 0 17 3 Wriprht, an l Co. (ord., crura div.) — 0 19 0 Shipping— f. aud O. Deferred Stock 2 2 V ' — L'nion (pref.) 1 0 0 Frozen Meat— N.Z. Refrig. (£1 paid) 0 1 8 . 0 0 0 N.Z. Befrig. (lC-s paid) 0 2 8 0 3 0 North Canty. F reeiinij "0 1 •j Woollens— Kaiapoi (17a paid) 0 7 6 0 11 0 Kaiapoi (7e paid) o a 9 0 i IS Kaiapoi (pref.) — 0 16 0 CoalGrey Yal'ey .. 0 IS 0 1 S 0 West port .. — 1 9 6 Stockton, (ord.) . — 0 1 3 Stockton (pref.) o "o" 0 ' 0 2 3 Gas— Auckland 1 8 11 1 5 0 Chribtchurch 1 4 11 Chiistcliurcb (10s paid) 0 12 4 0 12 8 Breweries — New Zealand . • 2 7 0 2 7 8 .. .. 1 19--3 ■ 2 1 0 Tiroaru (Ss paid) — 0 7 0 Tooheys 0 16 9 0 17 3 Tooths 1 2 6 1 2 7 Miscellaneous — Allied Motora 0 0 G 0 0 S Australian Distillery — 0 16 0 Beath aud Co. (cum div.) 1 4 0 1 6 0 British Tobacco (cum div.) 1 11 6 1 11 10 Burns, Philp 1 6 0 1 8 0 Colonial Sjgar 80 5 0 31 0 0 Dunlop Perdriau Rubber (cum div.) 0 30 1 0 11 c Electro. Zinc (ord.) .. 0 14 0 0 15 0 Electro. Zinc (pref.) .. 0 19 0 1 0 0 Henry Jonos Co-op. .. — 1 6 • 0 Hoiden's Motors 0 7 9 0 8 6 Mt. Lyell 0 19 7 0 19 9 N.Z. Drug Co. (cum div.) £ 19 3 S 0 a N.Z. Farmers' Coop. ("B" pref.) 1 0 0 2 2 0 N.Z. Farmers' Co-op. (6?j per cent. StocI:, 1940) 78 li> 0 80 0 0 N.Z. Farmers' Fertiliser — 0 19 0 North Canty. Co-oy. Flour 0 11 51 Tni anaki Oil 0 1 0 United Pictures 0 13 0 I 2, 0 Wilson's Cement i! 0 0 Mining— Mahakipawtf 0 0 0 0 5 Okarito •— 0 7 9 Stoney Creek t€d paid) 0 0 1 i> 0 3 Wailii 0 14 9 0 15 0 Winding Creel: (la pd.) 0 0 5 0 0 9 Winding Creek (Od pd.) 0 0 C-S 0 0 4i Corni3b Point (Is paid) 0 0 SATURDAY'S SALES.' CHRISTCHUKCH Sales on 'Change- » s. d. Australian Dank of Commerce 0 18 10 New Zenland Refrigerating (£"1 paid) 0 8 « New Zealand Retxiseracins (10a paid) 0 3 0 Tooths Brewery 1 '2 7 1 3 H Allied Motors 0 0 .<? Mahakipawa (S) 0 0 o Sales Reported— Union Bank of Australia (2) 9 15 (5 British Tobacco (cum div.) 1 12 0 Mt. Lvell I 0 1 New Zealand Refrigerating (£1 paid) ... U S 6