FINANCE AND COMMERCE.

Press, Volume LXVII, Issue 20316, 15 August 1931, Page 12

FINANCE AND COMMERCE.

SHARK MARKET. WKBKkY REVIEW. A .-MALL TLRNOVEU. I'MT.i.j; iii« pus>i ivcei; the volumc • iisiiK-.'.-i recorded on the Affiliated Stock > whrmgci throughout New Zealand •.■'iii'i'.i a decided falling off and dual- j i:gs, .-.part from those in Government Banl-:?, Drcwcrioa, and Gold ifin.<harcit, were restricted to a fow :>j'rk- in which the turnover was small, fin; I Of a I Kxchungc 'was closed all day ■'.i Tuesday, and the annual public celc■'.■tatioi< of Grand -National Week 'is re- '■ • i-1■ j it; the comparative; daily turn- <■■ ■ i •,i> licrt'tsndcr. Tliis ! .a.-t Week. Week. :: £ viiurua. .. tii'i:. 1752 Uoii.l; :v 1020 951 Tncfday closed Sj-tO w i"ji'.i •... ;-'.sa7 Thursdnv -77 15H7 l-'fi-tny .. 1744 3077 .'JSIGS £10,024 <'! tins w eck 't> total, which is tbo uuost recorded "weekly total this year, liai.k shares accounted for £2012 ilf'MVi; Breweries £S9S (£5706): Lyells v>73 i.OH»>; Gold Mining £673 (£.1923); tl<jur«*s in parentheses arc last week's :!gure.-. Pour aud a half per cent. 'Fax Free >:ock, due 1935, cased 5s to £99 15s, and • .'C Bonds weakened 2s 0d to £IOO. I'ive and a quarter "per cent. Stock. ■ iuc Jf)i 1, relapsed to £9S JOs. Five ■•< nd a halt' per cent. 1933 Stock changed 'ands at £99 5s and £loo—the Bonds also moved up to £99 15s and lato buyers •<re offering £99 ss, without attracting ■filer?. Five and a half per cent. Bonds due 1937 hardened to £IOO, gild there ere further buyers at that price, do ■•oilers offering. Buyers of the 1936 is--ues moved up to £99 17s Cd, with sellers of the Stock at £lOl. Piako Coun'y ">i per cent. Debentures, due 1960, v.-ere released at £9B, and Central Eles''ic Power 5$ per cent., 1957, at £9!) 1 'Jj?. Banking Section. In tlic Banking Section Australasias • iropped to £S 9s, and there were 'urtber unsupported sellers at £8 lis. '.opimereial of Australia Ordinary shares • x dividend eased from 13b 4d to 13s Id, -losing at 13s 2d, with further buyers •it 13s 2d, sellers at 13s od—the Preference had dealings at £5 8s and £5 7s and more are wanted at £u Ba, sellers at £5 13s. E.j 8., and A. are weaker with seller# at £3 16s, buyers at £3 13s 6d. National of Now Zealand shares showed a further easing with business at £3 17s, market closing £3 16s buy£3 39s sellers. New South Wales • um dividend advanced to £24 10s, and there are further buyers at that price, sellers at £25. Bank of New Zealand >hares had dealings at 48s 9d, 4Ss 6d, and 48s fid, as against last week's prices ranging from 48s 3d to 48s 9d, apd late rollers are asking 48? sd, buyers at 48s 3d. Union Bank of Australia moved between £6 7s and £6 6s Cd (last week ;£6 12s to £6 7s 6d) and more are available at £6 Ss, buyers at :€6 6s. Insurance and Loan and Agency. National Insurances were fractionally weaker with dealings at 12s SJd aud 12s 3d. New Zealand e* dividend bad bugiiie»s at 38s. South British changed hands at 50g CJ«J and 50s 9d, and late buyers are offering 5Qg 8d ? filers asking 61s 6d. Dalgety and Company shares, which realised £6 10s a week ago, were turned oyer at £6 Bs, and more are wanted at £6 7s od, sellers at £6 6s. Goldsbrough, Morts changed hands at 19s sd, 19s 6d, and 19s sd, as against 19s 6d to 19q 3d last week, and more are on offer at 19s sd, buyers at 19s 3d. Unsupported sellers of National Mortgage shares are asking 4?s fid- New Zealand Guarantee Corporations during the week weakened to 4s 8d sellers, beqfc buyers at 4s 6d. The markets for Shipping, Woollen, and Goal "Company shades were dull. Wellington Woollen Ordinary shares changed hands at £4 7b and £4 7b 6<j. Northern Steamship partly, paid shares had dealings at 7s Cd. Frozen Meat, and Gag. Gear Meats remained unaltered at 26b, subsequent buyers offering 26s without attracting seller#. Not?" Zealand Refrigerating 108 paid shares had dealings at 3s Id and !s, and more are available at 3s 2d, buyers at 3s Id. Auckland Gas fui'y paid moved up to 235, (subsequent buyers paring 22s lOd, pellers 23b 3d. Buyers of C'hristchurch Gas fully paid tiro pffeying 24S 6d, without attracting sellers. Breweries. New Zealand Breweries shares had dealings at price? ranging from 30s to 29# 6d, and there are further buyers at 29s Gd, sellers at 39s 9d. Staples were fractionally weaker at 85s 8d and more are on offer at that price, buygrg a* 23s 9d. Tooths Brewery shares wero stronger on buyers' offers 16s 9d, sellers at 17s Gd—last week's business wag at 16b 7d. Quotations for Timaru showed little variation. Miscellaneous. In the Miscellaneous Investment Seclion Bartholomew Timber shares eased to 15s. British Tob&ccog remained unaltered at 23s Cd and there are further sellers at that figure, buyers at 235. Dental and Medieal Shares realised 5s 6d. Kauri Timbers had business at 8s 6d. Moturoa Oils advanced to dealings at 6s, 5s lid, 5s Jod, and On, and more are on offer at 5« lOd, buyers at Cs 3d. Mt. Lyells moved between 16s 9d and 16s lid (last week 16s 8d to 16s 10d, late buyers offering IGs 6d —sellers at 16s lOd. New Zealand; Drug Company shares were firm at 52? National ' cased to ss. Gold Mining. Golden Progress recovered to businem at 26s 6d. Golden Point Is paid ranged from Is 2d t<j Is 4d, closing *it is 4i—the Ipe-al turnover was 6500 shares. Golden Dawn Cjs paid shares advanced to Gs and 6s <sd. King .Solomons fluctuated from 2p 4d to Is lid to 2s sid, and more are available it 2§ 3Jd, buyers at 2s 2jjd —1800 sjiaras irerc turned over locally. Mabakipawas had iaolaited business at 7jd. Okaritos were placed at Ps 9rf, 10s, and lOd as against Jog 2d to 9a 9d last week, and wore are wanted yf 9s 9d, sellers .*it ps lid. Waibis jyere steady with dealings at log 8d and 7d, and Grand ■'unctions were fractionally weaker at ■lts Jfld and 8s od. fHICE OF SILVER. t»aiT»sn owoiit. winisi,?ss.) rtieceivciJ August 14th, Q. 5 p.}n.'> HUGBV. August J3. Silver is quoted—.Spot and .fprrard .. *u uLifla.

YESTERDAY'S TUANSACTIONS. -Market conditions remained unaltered on call yesterday, and the recorded turnover was small. Transactions, exclusive of vestibule business, included 351) Bank of New Zealand. 20 Dalgety and Co. 100 Goldsbrough , Mori. 000 Mt. Lyells. 400 Moturoa Oil. 700 Golden Point (Is paid;. Buyers of 5h per cent. 1930 issues raised their bids to £99 17s Gd, with sellers of the stock at £lOl. Bank of New Zealand (shares, on the morning call, were firm at 48s Od, and on tho afternoon call eased to 48s sd; closing quotations 48s 3d buyers, 48s 5d sellers. Other Shares. Goldsbrough; Morts relapsed lu AOs sd, sellers staying in at that price, buyers at, 19s 3d. Dalgety and Company shares were firm with business at £6 Ss, market closing £6 7s Od buyers, £6 9s seller?. Unsupported sellers of National Mortgage shares came down to 42s 6d. Buyers of Huddart Parkers raised their bids to 20s 3d, but sellers wanted 225. Westport Coals were weaker with sellers at 245, buyers at 22s 9d. Buyers of Auckland Gas shares moved up to "2s 0d without attracting sellers. New Zealand Breweries shares were tirni, buyers offering 26s Gd, sellers asking 29s 9d. Buyers of Tooths Brewery shares raised their bids to 10s 9d, sellers at 17s Cd. Buyers of British Tobaccos weakened to 235, but sellers wanted 23s 6d. Mt. Lyells had dealings at 16s lid and 16s lOd, and there were further sellers at 16s lOd, buyers at 16s 6d. Moturoa Oils changed hands at 5s lid, 5s lOd, and Gs, market; closing 5s 3d buyers, 5s lOd sellers. Golden Point is paid shares had dealings at Is 3Jd and is 4d; closing quotations Is 3}d buyers, Is 5d sellers. Buyers of Golden Dawn Mining shares offered 6s 2d, but sellers wanted 7s. AUCKLAND. IUREGULAK CONDITIONS. I THE PRESS Special Service.] AUCKLAND, August 1-1 Irregular conditions existed on the | Auckland Stock Exchange this week, and the volume of business fluctuated considerably. Few factors operated to influence the market favourably, and at tbo close, apart from one or two lines which were easier, there was little change in quotations. Tax free Government woro in firm demand in the early part of the period, but later support was transferred to the higher interest-bearing issues. Banks were dull and losses again predominated in the limited trading done. Commercials of Australia Tost ground with sales at 13s 4d and again at 13s 2d, representing a decline of lOd over the week. Nationals of New Zealand with two transactions at £3 17s, were 6s 6d easier. Unions weakened Is Od ta £6 7s 6d. The levels for New South Wales and New Zealands improved a shade in sales at £34 103 and £2 8s 0d repectivcly, but the latter scrip dropped back to £'2 8s 3d to-day. Jn Insurance, New Zealands were done 3s cheaper at 38s. 'South Jlritjsh tvpre actively dealt in, four parcels being transferred at 50s 9d, and one at 50s 6d. Active mining issues were Waihis and King Solomons. Wai'his were fairly steady at 15s 7d, and Junctions weakened slightly to 3s 9c], Business in King iSolomons opened 4d easier at ?s ?d, and the market receded temporarily to Is lid. The hulk of the business was done at 2s Id to 2d. DUNEDIN. STEADY BUSINESS IN ALL SECTIONS. I THE PRESS Special SeriicM DUNEPIN, August 14. Tiie volume of business transacted on t|]'e Stoc|c Exchange during the past week has Iwen about the same a$ that of the pr«ifious period, but sales wer<j scattered over a greater number of section?. Bank of Now Zealand? had a fairly steady market, and business was done at 48s 9d. This price was asked by sellers when the market closed, but ths best buying quotation was 48s. Commercial Banks have also been fairly steady. They commenced the week with a buyer »t'i3s and a seller at 13s fk}. At thy close of the market, a «alo was reported at 13g 4d. Union Banks havt ftlso seen business, a parcel changing hands at £6 7e; later pu|uirteg at £G 6s found sellers firm at The demand for National Insurances was firm at 12s Gd, pellers asking 13s. An olfer of SQs for South British insurances fqund sellers demanding 1$ more. liaitangata Coals have been in demand at 4s 6d discount, sellers remaining firm at 2s discount. A .margin of Is separated buyers and sellers of Westport Coals, the beet offer being 23s 6d. Contributing New Zealand Refrigeratings were first asked for at 3s Id, sellersi demanding 3s Gd. Two sales were repotted at, the former figure, and tho market closed with a buyer at 3s and a (seller at 3s 4d. Dominion Rubbers are now bejng offered at 9s, with' no buyers forward. Offers of i'fc for Milburn Limes found sellers firm at 20b. New Zealand Drugs were dealt in at 525". There was a buyer later at ols, but sellers failed to come forward. When the market closed there was an unsiipplied buyer at 50s, "Daily Times'' were offered at 48s to-day, but buyers were unwilling to do butfinoes at more than 40s. The demand 'for Wool worths stands at 21,s (id. New Zealand breweries had buyers at 29s 6d Business was done at tliat figure, and another sale was recorded at BQs. Closing quotations were 29s 6d buyers, and 80a sellers. Dunedin Breweries were enquired for at l<ls (id. genet's asking 16s 9d. Mining Shares. Kawttmus were offered to-day at 6d, with up buyer forward. Okaritos commenced the week with a buyer at 9s 8d swl a seller at 9§ lid. Business was done at 9s 9d aud 9s lOd, and the close pf tho wepk found buyers offering lQs Id, and sellers demanding 5<J more. Paddy's Points, which were first asked for at 3s lid, showed a tendency to ease, a?if| the best offer at tho close was 3s G<j, sellers asking 3a lid. . King Solomons were first defiit' in at 'Js yd. but sales took place later at pric<iji ranging from $5 2d to 3{d. " The market closed with'» bu.vpr forward at gs 3d and & seller at'Ss 4d. Golden Points gnw bueineibs at Ijs 4d and Is 4fcd. and at the close shares were being offered at Is fid, with no buyer forvpprd. Moturoa Oils improved considerably during- the week, and business was done to-day (it 61?; later, offers of 5a failed to meet any response by sellers. Two parcels or 5$ per cent. Stock (11)87) were turned over nt £1G0; they were offered later at £IOO 2s Od, but. no buyer en tins forward.

| DUTY ON SUGAR. |

iCOTTON INDUSTRY.!

PRICE NOT YET INCREASED. I CUSTOMERS TO BE RATIONED. Although they Jccently increased th-i j price of sugar from 2d n, pound and lis a 70-pound bag to 2>]d and 34s respectively, grucers have now decided to ; revert to tho old price, and to ration i their customers, according to a st:UeI went made to Thk Piiess last evening , by Mr A. G. Cannons, district officer !of the Department of Industries and Commerce', Christ church. '"The grocers have been selling btiyu' i'or the past year at practically cost rriee," said Mr Cannons, "atu) wluni tho Budget duty of Jd a pound was announced, the price_was not raised by them, and the public bad the opportunity of buying at the old price for about a week, knowing that the duty was to be imposed. "Tho result was that tho grocers j wer'_- inundated with orders, and bad to ration their customers to 12 j>oiind.-J, and in some cases to six pounds, in order to protect their regular customers. The merchants and grocers J were quite iu the dark as to when tho duty was to be added, but ex- j pected that each shipment arriving | would bo at the increased price. A few days ago they raised tbo price to 2id a pound, and 14s a 70-pottnd bag. Tliiii was done partly to provide i'er the new duly, anil partly to restrain casual from boarding. ■ j i "Because of the fact that the duty has not yet been charged, and of the views of the Minister for Industries and Commerce (the Hon. P. A. de la I Perrelle), published this morning, the | grocers have decided to revert from to-day to the old price of 2d and lis until the duty is actually added to the wholesale price. As their stocks are depleted in some cases, arid in others only normal, it will be necessary for them to ration customers.'' A message front Wellington mi the subject ol the duty of id a pound 01 j sugar, published in Tun Phess yesti i~ i day, inter alia, stated ' ''The Minister for Industries and ■' Commerce desires it to be known that j there is as yet no increase in the price jof 6ugar supplied from tho Auckland ■ refinery, and that stores in all centre- ! including provincial towns and groeeri th •oughout the Dominion, should make j no increase in sugar prices by reason j of the advance in duty until such time ! a,s the manufacturer's price ir.j creased." j MINISTER'S STATEMENT CAUSES ! INDIGNATION. | 'IT.SSS ASSOCIATION 'rtt.EJUA.-l. DUNEDIN, August 14. Indignation is expressed by grocers at tltu Hon. P. A. de la Perrello's statement regarding sugar prices. The president of the Master Grocers' Association said that when the increased duty was announced grocers passed t on to the public, but stocks were then low, there having been an excessive run at the last minute at the old prices. If the new duty proposal was defeated in the House, the public would expect an immediate price reduction. The usual practice was to increase tho price with the duty increase. The Minister's statement, issued nearly a fortnight after the imposition of tho duty, was most improper. It was absurd to 'suggest that grocers should make a refund. THE GOVERNOR'S CUP. i f | APPLE EXHIBITION IN LONDON. ! I >ruov ovr owkj LONDON. July Jo. ! The large silver eup which the Govcrj nor-Gencral (Lord Bledisloe) presented j for auomil competition by New Zealand j exhibitors in the apple classes at the j Royal Horticultural Show (London,), is j still on exhibition iu the window of j the High Commissioner's Oftice. It i appears in the forefront of an excellent display of New Zealand apples, arranged by tho Government Publicity Officer. A card affixed announces the facts regarding the Cup, and also the name of the winner, Mr If. E. Stephens, of Nelson. The "apple window," by thy way, has proved an excellent advertisement for many weeks past. The background is a revolving wheel, studded with apples 011 the edges, which appear to be carried out of a box held by a. New Zealaiulcr and received into the lap of » British maiden. In front of this again, in the midst of baskets of apples, a working model of a child seated in a chair, offering an apple to a little terrier dog, which moves its head and wags its tail in anticipation of a gift it never receives. New Zealand apples liave been featured in this window throughout the prpsgnt season. HERD-TESTING. ADDRESS TO FARMERS. Lndeivbthc auspices of the TaL Tapu branch of the Farmers' Union, a fargelypttended meeting of farmers from Tai Tapu, Ladbrooks, Greenpark, and Lincoln was held in tho Tai Tapu Hall last evening, when Mr A. AV. Hume, of the New Zealand Herd-Testing Association, gave an address. Mr J. Gjhnour was in the chair. "You people realise the very difficult times, and hope that the price of butterl'at in the future will be better," said Mr Hume. "But you can make up your minds that the Is 5d or Is Gd price has gone, and you must cut your cloth according to the price realised now, about I 3 per lb. The slump of 1931 is going to put the dairying industry in a difficult position, but to meet this, New Zealand dairy farmers must improve their output. This can only be done by herdtofttiug aud doubling the pastures." Herd-testing had " been started in New Zealand iu 1909 by the Department of Agriculture, when 815 cows were tested, continued Mr Hume, but Denmark, New Zealand's opponent, had been testing 14 years before that. By a number of charts he showed the increased advantages which farmers, especially in the Waikato, Gisbome, and Hawke's Bay districts had received from herd-testing and from tho use of fertilisers. Ho advised New Zealand farmers to breed pigs for lean bacon, which was what was wanted in England, and recommended the feeding inent-meal mixed with skim milk ro weaners. "\\c have nothing to fear from any country in the world as regards supplying bacon and pork to England," he said. At the conclusion of the address Mr J, Parl&ne proposed a vote of thanks to Hume. He said Mr Hume really was the father of herd-testing, which had been of such benefit to the farmers, and 110 advised all those who were not ypt members of tho Association 10 join at once and thus in,prove their oiulook. Supper was provided by the, belie-:' branch of Ihu Fa ram a' Union. _

INCREASING LOOM POWER, j REORGANISATION IN • j ; LANCASHIRE. ! i ; .BXITIoIJ OFFICIAL VSVKZLEXti.) ! (lleceivocl August 14th. 0.5 p.m.) i RUGBY, August 13. I Jliu dooiiDii at Manchester to-day of i 1 : '. tton. operatives to negotiate with the j employers "more looms" system, about. which trade dispute occurred during the winter, is regarded as ant important advance towards the reorganisation of the Lancashire) cotton industry, leading to an increase of the industry's competitive power in foreign markets. -There has been trouble ;n Lancashire for borne lime over the .suggestion thai a weavr should work six instead of eight looms. In June, the Mauehc.ster correspondent of the London "Observer" reported that the operatives wore begging to be allowed to work, in face oi the veto of their trade mi ion. leaders, who had decided that "they could not entertain the idea., of allowing the .weaver to work six loom,-:.'' The operatives issued a public statement (piestiuning the wisdom of their leaders. j "Work has beet) olfered to ii;,' 1 they said, "by our own lirni on terms of about £2 os :t week. Have wo to stop a.s we are, getting: nowhere, and seeing the tradi slip faster and faster away from us, just because et a policy of obstruction, or have we to work 'with an employer whom we are convinced is trying his bast by new methods to put the trade on its feet ? "Wo huvo been unemployed fourteen months, and some of us fifteen to sixteen months Wo have received nothing, apart from 17s or 15s unemployment | my. Only about 5 per cent, of m- have found work of any kind during that period. "No uethod has been brought for- j ward by our lenders whereby we can con.in'-iK-c work. All persons admit tht.v see no signs of work under the old methods, yet we are debarred from trying new methods because of' the uniform price list."' | """ ! | LOVEIJi AND CHRISTMAS, j i IMPROVEMENT IN REVENUE. | T.UN DON", July 10. I'llo cliai'mian of Luvell and Christmas at lh>' last annual meetii.- told the shareholders that steps had been taken to ensure both the handling of larger supplies and the more economical working ot' the business, necessary to check the drop in earnings that occurred in ]!»2»-a0. Tlio.se steps have proved effective. The accounts for the year ended June 13th show that the net profits amounted to &U0,G34, as against £51,397. Including £92,G20 brought forward, Ji 153,2(50 is available for distribution. The directors recommend that the dividends be limited to the full years payment at the rate of 6 per cent, on the preference shares, leaving to be carried forward £108,260. The directors again receive no remuneration for their services. WHEAT CARGOES. i LONDON AND LIVERPOOL. j j -.CKtrEi' rr.r.es issociatio::— by euxrniu | TELEUEAPH— COPVBIGHT.^ (deceived August I.4th, G.o p.m..) LONDON, August 13. WiifjuL cargoes—Sellers aro 3d advance, but buyers are not responsive. Parcels are slow of sale at unchanged prices. Futures are quoted-. i I'or quarter. London - s. d. September .. ... 17 2 | December ... 17 11 Per cental. Liverpool s. d. October ... ... 3 lOjt December . . ... 4 (VJ March ... o 2| i j Spot trade is quiet, and prices are slightly firmer. Australian, ex ship, 20s to 22s Cd per quarter. BRADFORD TOPS. fcaiiKo r:-:sss association ■ r.T electric.' TELSdIIAPH LONDON, August 13. There is a holidav at the Bradford tops market. Quotations are steady. Quotations fas compared with July 30th) arej, July 30th. Aug. 13th. d. ' d. .Seventies ...24$ Uo i >Sixty-fouts ... 23 22 i j Sixties ... "20;. 21 i fifty-sixes ... Mi loji ; Fifties ... 12i tSi ; I Forty-sixes ... 10 10-i < Forties ... 10 10 i j LONDON MARKETS. j (CJCrmu I'RliSti ASSOCIATION — BI IJ.UC'IT.IC TELEaIIAPH—COPYRIGHT.) LONDON. August 13. Klour -Market is steady. Australian, ex store, 16s 9d to 17s per sack. Oats—Peas and beans are firm. j I | ASSISTANCE FOR DOMINION j j GOODS. j | The manager of the Junior Army and Navy Stores, Aldershot, has sent the following letter to the Government Publicity Officer in London (Ale IT. T. H. Droyv):"1 am writing to express my appre- j ciation pf thu cordial assistance which j juu extended to ourselves at the I Ajdershot Show. I am sure the result j will be jnutually beneficial; we shall do all ive can to follow up ypur splen- ! did eiforts, and anticipate a greater j demand for New Zealand goods. Please j accept my sincere thanks for yoiu 1 kind co-operation. Yours faithfully : 'Sgd.) F. M. Collins. Manager." ! MOTI.JROA WELL. i : j FLOW OF 100 BARRELS. ; j " : \faE6S ASSOCIATION TJStBiWU#.? NEW PLYMOUTH. August 14. ! When the Moturoa Oilfields No. 2 well was opened to-da.V the bailer was lowered and found oil withiu fifty feet of the surface. The well began to llow and 100 barrels of oil were obtained in two hours, seventy-five barrels being collected in the main tank. _'lbi? condition of the well is } fv.lfr'al !•> b«i uat-iefactorj,

| VALUES ON STOCK EXCHANGE. !

( HKISTCHURCH RATES YESTERDAY. FORMER LEVELS COMPARED.

) interim dividend, December, 193f. 4, Interim dividend at rate of 5 per c ® n '- oc-i't prr annum; <•• interim dividend lit va dividend ni rate of 0 per cent, per annum i j per tnuum; f, interim dividend at rate pi I Where no approximate market is cive», : only one quote is giver! OTHER QUOTATIONS. 1 Following is a. list of shares quoted ; on tho Stock Exchange yesterday not , included iu tlio table given above:— j K.Z. Government Debentures—i'-. r;er cent. Inscribed, , . : ' teas •• • ;uo u o i per cent. Inwribpd and IJonds, 1333 .. SO j 0 i'i pur cent. Inscribed ji.nd Bonds, 1936, and .' i Insoribod, 1937 •• 03 1 ■ per cent. Bonds, 1837 ' ; 00 " Ci MiscellaneousAmatgumfttcd Wireless (cbnlr.) - u lj 0 S.Z.. Farmers' Co-op. (OA per cent. Stoc*. 1810) • • ■■ 51 I'-' 0 Cj () 0 Co op. (6>i per cent. Stock. 1915) .. 55 0 u Gi 0 0 Quill, Morris ■■ Q J J-J Tmanaki Oil 0 0 1 5 2 Woolworths (N.Z.), pre). 1. 3 0 I. 6 0 Moluroa Oil' .. 0 3.' 0 010 Mining— ConiisH Point. •• " ( > " 0 ® King Solomon •• 0 2 3i 0 2SJ Maliakipawa 0 0 EJ 0 07| "Mabakipawa (pvef.) .. 0 0 8& Okarito • ■ 0 8 9 0 9 .11. Waihi • • 0 1-13 015 U AVaiin (Jrand Junction 0 !i <> ft 331 (io'den Point (la paid) 0 1 0 1 5 Golden Point (10id vd.) 0 10 Oc.lden Pawn .. 0 0 2 0 7 0 Xorlh Broken Hill '2 0 0 YESTERDAY'S SALES. i j CHRISTCHURCH. I f Sales on 'Change—- £ «. d. Dalgoty and Co. • • 0 8 0 Goldsbrough, Mori 0 19 5 Bank of New Zealand 2 8 6 Mt. Lycll (-.) 016 11 (2) 016 10 Moturoa Oil •• 0 5 11 0 5 10 Golden Point (is paid) .. 11 1 8J o 1 4 Sales Reported— I Bank of New Zealand t,-j 2 8 5 Moturoa Oil . • .. "GO I AUCKLAND. Sales on Changei' !. d. Central Electric Power Board, 1955, 5J per j c€ „t. ... ... LOO O 0 I TS;iLional Hank ol \.Z, ... >3 1' 0 N.Z. Insurance . ••• 118 0 j Nortiiern Steam ... 0 7 b J Wellington 'Woollen 4/0 Waihi ••• 015 7 Waihi Junction ... ... 0 3 9 WELLINGTON. j ! Sales Reported— | £ s. d. j Centra! Ifilcetrie l'owei | [foard, oi per cent. ... 9U 10 0 j Wellington Woollen Co. _ ' r i (cum dtv.) ... ••• 1 ® Sharland and Co. (ord.) .. 016 0 j Sharland arid Co. I'pret'.i ... 015 6 i' ; DUNEDIN. Sales Reported—- & 3. <l. Commercial Etuii; ... 13 - j ■ Kin?/ Solomon ... - J } Moturoa Oil • . 0 6 0; Inscribed .Stock : per vent 1037 Vs'» K*- s « O

j p.a.: b, interim at rate of_6 ppr i ta of 8 per cent, per annum; d, interim o, interim dividend at rate of 10 per cent, i i2ft per cent. per apnum. , return is worked on mid-market price unless ' MINING. \ .MAORIS FIND NEW GOLD REEF. r-res vMociiTioir TttiGtiu.' ! THAMES. August J4. Oil Thursday the Maori claini*iolderg who have been putting in levels at the Kaka claim at Tapu, were successful in cufctijiß ftn entirely new reef, and obtaining » considerable quantity of picked atone. A ton of stono crushed with primitive appliances yielded one ounce three pennyweights, valued at £3 17s 6d an ounce. The Maoris will not pljow anyone on the claim, but gtgte that the stone looks more promising: as the drive pro grasses- . . .„ At tbo rear of this claim a Taranaki syndicate putting in a level discovered a r<?ef about 14 feet wide. A ton of this, when crushed, yielded 17 pennyweights. Some of the stone exhibited m Thames is said by experienced miners to be particularly fzood. KING SOLOMON DEEP LEAP(PRESS APSOCIJLTIOS TZLKGSA#-! INVERCARGILL, August HThe mine manager of the King Solomon Deep Lt.d., reports that the wash-up for the past week totalled 10 ounces 2dwt. | COMMODITY PRICES. ' HOW THE PAST MONTHS COMPARE. Despite tha eitreme efforts tha-t hare been made by producers in all parts of the world to stop thf> decline in the price of raw materials most of tljo leading lines sljow declines in July, as compared with J ujin figures. Jn some cs®e£, notably in wheat, they havo sunk to the _ lowest level registerHd since tha preesnt crieip began. Metal?. The position ot base metals at tb© end o S June and July of the present year for spot delivery has been as follows: June. July. 1 £ s. d. £ b. d. Copper, standaid 40 6 9 32 11 10 X>ead ~ 13 11 3 12 7 6 Spelter .. 13 16 '• 11 7 6 Tin .. . 11l 8 9 106 11 3 Textiles. Another gtoup, includuH; textile, rubber, *nd fibres, gives '.he 'following companions:— I ■Tunc. July. £ a. «j. £ ». dWoo! tot>s {4OO 0 9i 0 OJO : Cotton, lb 0 0 5.53 0 0 4.5G Rubber .. 0 0 41 0 0 ih I ■Tutc, ton .. 16 2 6 15 12 <5 I Hemp, Manila •• 37 15 0 15 15 0 | fiisal 16 0 0 UlO 0 ! Cc.pra 11 15 0 11 5 0 j Linseed oil, ton • • 38 0 0 17 0 0 j j Tvrpertine, cwt. •• -7 0 J < 0 j I Foodstuffs. Movements iti Jibe food section have bccri j j as follows: ••• . , I ' lunc. Jul}. "" £ ». d. X" a. d. X.'A. butt?.', cm. ?13 0 010 0 j N. 55. cueeso, white OUS 0 3 0 O N.Z. cheese. colonr»ci .. 'i lf> 0 32 0 N'.Z. mutton, lb .. 0 0 4 j 9 0 *4 N.Z. lamb, light 0 0 0 0 7$ i Wheat, per centa.l 0 4 1 0 310 j LEAD IMPORTS. ! 1 <' Received August 14th, 5.5 p.iu.) j LONDON, August 13. I Lead imports and are as follows. : Tons. ' I upoTtn -i 30,801

CANTERBURY i MARKETS. ;

BUTTER

A QUIET WEEK. j BT oue COiiaZECIi-L SDKOF.., I ) j Friday Evening. Willi Grand National Carnival Week tliera has been a general lull in business in the Canterbury grain and produce markets, and there arc no altcn,.1 lions to report. " The potato position is as weak as ever, and it is a great many years smeo values were so low for i lie corresponding period ot tbo year. The general quotation is Ilia a ton, f.0.b., a.*-. l >uf. ">«•'>' I)UVt> l>rf;U sold at slightly Uloyr that ligurc To farmers <>h trucks they .uo .y Gd to £1 a ton on trucks. Odd salts have been made as low as ~l on trucks country stations. sacks in j The nest shipment lor the north is j due to leave LyttoUon to-morrow on j the Kanna. The exact quantity to go; is not yet available, but it is noi ex.- j pectecl'that it will ho verj great,. Tho Waipiata left 'lunar,. for the north carrying about, I<UO sacks { ) and will not bo calling at Lyitciton. ]n other sections of the market there is little business passing, low. wheat is firm at 5s l*d f.0.b.. s.c., for prompt. j j Quotations. • The following are quotations Sol produce to bo paid to farmers on trucks, free of commission, sacks tMr.i, except where otherwise staled : - Wheat—Tuscan us ud on n licks, Hunters. Gd to os <d. *o\\l client to 5s lid prompt, f.ob., b.c. Oats —Algerians. 2s 3cl: A. Gartons, *>s Cd: B's, 2s 4d. Barley—Cape 2s yd to Js, maltin ß Potatoes —To 20a a ton. Chaff—£2 15s. i Partridge Peas—4s o<j. : Hed Clover—(W to bid. | White Clover —8d to yd. i Italian Ryegrass— 2s. t percrinisl Ryegrass— Caiuerouiy. .is Akaroa 3d iu 3i<lj Plains Local £5 a ton, i'.o.b.; shipping, £4 a ton, x.0.b.; 10s extra for smaller packing.*. . . Pollard-Xocal £-j 10s a ton shipping, £4 a ton, f.0.b.; 10s extra for smaller packings Flour—"Wholesale price £lO Ua od a t ou ior :X)0lb sacks, with the usual increments for smaller packings. DLNEDIN. I [THE FKESS Service i j BUNEDI>', Aug'" l 14 • There are no new developments in the milliug wlwut market. Practically mi,hng wheat is now tP U llati - Rnd thore 15 ht S nnm.irv ior What IS cfferipg. ln BOCIO are Uoiijm:! to Ueavv sl<xks, and •uenared to Ui3;)o3e ui their auipius at These are on the b»>. * oa iO4 J-0.b., W"?, ,-f m \v r .i fowl remains .fairly i.j BO quotable change in prices. ÜBineSß ,| * asiiiniiif lines liU-d sni&ll lots fl»l® to l? P "ovth Tsla-Id. ■ Sales ime f.'° ado on the buis of 4* extra, for lW Vhoie fowl wheat, and this pnee is equivalent to is Cd per bushel, sacks extra, "ihe'oal market is firmer, hut the of business passing is small. A bMtoM are being quoted at 2a 10id, i.Q b., »•»•> B'S at 28 7id. Offerings irom farmer? m on the light side, ami !fl E r L The rcaae are from lines helcl m the stores. Ihe demand for seed oats has not yet commenced, but it is anticipated that a faujy V 1", quantity will be required not ° ply J rl L° growers but also for Canterbury farmers. A moderate amount ol business only » being done in chaff. Sales are still confined to lines ex store, the value for -which remains at £4 10s per ton, sacks extra. The potato market continues lffelgss. ike reduced prices have not stimulated the Oqniand to any extent, and the nominal quotation to-day i? S3 10s per top, pack* included, ex store. , ■. ' I The spring demand has started for seed®, but it has not yet reached very large dimensions. There is no quotable change in prices, and merchants 4 are content to await developments. GREY AND MENZIES, LTD. SMALLER PROFITS FOR YEAR. With smaller profits last TP** directßTf of the old-established firm of Grey &n4 JJenjiea, Ltd., Auckland, are recommending smaller rates of dividend for both preference and ordinary shareholders for the year ended June 30th. The directors' report, to be presented to shareholders on Wednesday, j 19th, states that the balance at credit of profit and loss account, including the balance brought forward from last year, and after , making full provision for interest, bad debts, I depreciation, etc., amounts to -£'2Gl7. i this they recommend that ft dividend be paid at the rate of 7 -per cent- on preference shares and 4 per cent, on ordinary shares, which will absorb £1230, leaving £1367 to bo carried forward. Tho retiring directors, Messrs Mennes and | Clhv, are re-ppminated. Following iB the pummftrv of the company's results for the last three years: 1929. 1830. 1931. £ £ £ Brought forward .• 136S 1494 1600 Net profits .• •• 228 C 2266 1017 3654 3760 2617 Dividends .. ■ • '3160 2160 1230 Carried forward -Mpt 1800 18S7 Particulars from the last two balancesheets follow: LIABILITIES. 1930. 1381. £ f. Capital - ■■ 37,000 27,000 Creditors .. .. 3,250 Reserves ... 1,828 1,865 Mortgage .. 5,000 5,000 Balance P. and L. .. 3,760 2,617 ASSETS. £ £ Properties, buildings, etc. .. 23,69;! >2,319 Stocks .. 10.17G, 11,348 Sundry debtors .. 5,879' 5,428 Cash .. 193 13 GERMAN EXPORTS. SUBSTANTIAL DECLINE. The German correspondent of the "Economist" quotes the latest quarterly report of the lustitut fur Konjujikturforschmig. Th? report states tljat world economiQ conditions are as devoid as those in Germany of auy sign of improvement, but that the downward movement has, in general, slackenedOn the other hand, the improved liquidity of the international money markets has so far had no influence on tho capital markets. Jn the opinion of the Konjunkturinstitnt a change is coming about in the composition of European foreign trade. The crisis is now ijijuring more seriously the exchange of goods between industrial countries, whereas the decline of trade betwen manufacturing countries and raw material-producing countries seems to have somewhat slackened. German esporte to extra-Euro-pean countries declined in the first quarter of 1931 by 6-1 par cent as compared with the last quarter of 1930. whereas tho6e to European countries declined by 19.4 p«r eent. BEET SUGAR. I ! j, 'Received Au~u»t 14tli. 5.5 v.m■' 1 J LONDON, Ausiisi 13. ! , I.eri !S quoted %{l follow!: j 1 • . #• I|)L

LOSS OP CANADIAN ! COMMENT BY COto AVv director. The opinion that the <mi for New Zealand butter I Nc. Britain is expressed by y H Leesou, chairman of di reet rJi I Morrinsville a review of the market throughout the world. H "If iv 6 cannot conjjratuUu on the price we are getting butk r, u e can at least do J 9 * unexampled increase in lis H ot." butter \ve have exppyf*<iw During the first five tlio osporcs of New JJntani exceeded those of tf.f'M j UG<)O tons. Comparing thti^^k j 1)11> the position was that j .and ha.i advanced 415 i tralm 1 i-j per cent., and I only 33 per cent. a ««i| The low price of butter in t i j had resulted, in the mater in Britain increasing tons a week to 7000 to®, 21 I meant that the margarine i tnrer? woro being hard hit- 3$ ; ot New Zealand butter i n £ during J uno and July had I*2 i over 50 ,kt cent, above tftL £: same period of last yeafr bur ; stocks in ixindon were dewa tHi tons, or only enough to ot New Zealand sellers pf b n StS iortrught. All things coftadjS?S price had not gone as have been expected, for %| Wt 3 season in Australia hod w«Jy Australia exporting toi#», butter than in the previnn.* and the Canadian mqrW/j&JfB ] previously absorbed 2Q,QOQ i Zealand butter, was lost to'Hftji i land last season. * I "White it was ft' matt#r"for rw> that the New Zealand W r,..F Governments had not mndt # ,3 trade agreement to enable be exported to Canada, itful whether any butter WflflM fern been exported even if k no prohibitive tariff. BuWr-hiS selling for lid per lb in or as low as in London. sj» & clian production had been psafelj creased fiince the inent stopped the export m milk across the border. sitM was now trade into botfreV In addition many wheafrgfowri' , (he prairie provinces ?]ia tffa hard hit by the low price it was Is 5d in ' to keeping a few cows 94 a «i3eli«J j There. seemed little prapect (I ing up jew markets in dhe Eat. I Canadian market seemed and the only market tish raarket. £ven if JMislrftia 19 able to export butter ip Ckjs| |j season as a result of ncttpq agreement, it would onjjf guti so much Australian butter K|pp diverted from London, 88<J IbiifSi improve the prospects fat fiew'saii butter in Britain j ; DAIRY PRODUCi. LONDON QUOTATIONS. J Djdgety and Co., Ltd., have {oUowipg p»bUigt(im from Hon, London, dated August 13th.: - ■: BuWer—¥»&?» Snn, owinj to tali arrivals. D»wh ISO* to }Ma, Swift ZavlfWd »89 »&. »atf«d 110s to 1128, »ltfd lCfiiKj *&;- io8» t<» !».- A • :.-W '■p&whmrty fi p* 7i»bnd, wbit? 60s to 62s wd #£, to (Us: Cm#dw»n, P»Qt wtatg j&W «plw»4 «* to ~SSb; Cw&wMtt AU; 6cs t# m*- " *: ti z r j The H&tipnal Mott»e« »s4 of New Ze»lt#4, ltd., h"g?JfW7«l lowing *)»bUfliw HBf-jnMfUS JY MIUb ft»4 J Buttgr-M»rki?t firm- ffir lite; D»wb, to to 11S2?. Co»tinent»l Prices }»ve iti Chege & -M»rk?t firm, 63? to 635, coloured ®f »• "*• } A. S. PftUfflQa and Co., cglvgd the following e»M«g»» Lpiidon principals, J. Do., i<td*:— - ._£ fe Butter—Mariet adv««« •*« * j proved financial conditions, Continent generally; lielftnd (Hid 33»n>B«! lend Ute to Jls», Polish 96a to \m, Sibeaw • to 112b. . Cheese—Firmer under lopuepw colonred 63« to Wa. AUCKLAND G#»Wf x ; FIGURES i Dairy produce graded i» ! yinc® fo? tbp njqnth of £WS b<»?« flf butter 15.W Eedijce4 t<? term* to I,B7B,OQftlb, compared mti June, 1930. Tha output tor recent years has been 9R ?9tWW*_v' 1938-30 - " 1929-30 •• 1900-31 , FBILDING STOCK SAH- r ; * ■■■■'" :ms< wsoci*hp* apstLomft There were ieavy y»fdlnj» pf 'j|fn? £ dairy »t tie st<,ck /*'! sheep eased i? pries. firmer. F»t »oJd to 2ft' »j fc W to 21s Bd, snjl fit ewf» w lft » dairy heifers, Ute tt &[•¥& . fat bullocks to £B, ?»t i vSp? heifers to £4 10s. The.e w». % m ket for store cattle. FARMERS' SA{JY4?5t', ' ■ n H. C. Smith, Farmers* tbe following: wte» «* Brown gelding »"•bwM ing £4 10s, bay w» ** 10b, bay mare £3 10f, PSJ * Jl,« mare £5, road jogger £7 ernesß cart £s,d.i. plough^Tf^^,. harness £3, sulk? »'Jfj)} £1 7s 6d, ditto £l6s, s ar. cof *V Jersey cow £lO Ifc 15s, Jersey cow 11 M. «'» .g, cow £9 10s, Jersey cow *»

BANK OF ENGLAND j RETURN. i j fSEiS 4BSOCU'nox— sr ELICTEIO TffLSGEAPH —COrVUIG ™.) August litb, 0.5 n.ro.i LONDON, August 13. I'h* following is tbe Ban'.c of England :r?r.in ior the week ending Aujfubt 13th:-" ISSUF, I}^PART.M.E>"T. £ «■' m .e.*ie.«uid- Uovi. debt 11,016.100 Inc.i'cula- Uther Govt. iinu .. jOC'.OoI.'X)! securities 258,-95,021 ! 'i !>r. ii'i.'ins (_ tlicr secu--4.;.406,!X»i rities .. 1,593,148 Silver coin 4,090,731 1 Viuciary issue .. 070,000,000 Gold coin o-. bullion 131,617,932 : } Xutut -10G,o 11 .iVj^ C .O" KINCJ DEPAKTtfKN'r. *' . s.n«»oV 00-.t. sectlwpitu! .. 1-1.5.53,000 rities .. SS.o2s.aott •r:,t : -,'Ki 3.397,79tS Other scitif'ubiic do- rilir-i—----li».-133,C0l Discounts i , r urul swl -3-. '-npces .. 7,5i | .l,iit37 i!an'n»rs' S-w.ui it its u2,<'.!»7..*58^ Other acb. 31.>.T9,nUl Notes .. -16.490,991 - v^n•>!»'• Gold end » f j'jjr- ■ si'veu coin 1.:3jC.-o6 } Uu' 1 V. j ! 130.027,86- Total 130,627,552 j l'rop'j.lion o: reserve lo hauilties, -12.90 !-:i <ilior!-dated loans, 3£ per cent.; iliree-!i"inths' Lulls, 4J per cent. Tlic :iducinry issuo o: ,£270,0UJ,100 c.or.si3ta ... ih- follo-vinp items: Government debt, '!n*r Government securities, other L'ecnriliricl silvoL* cohi. (iOYERNMENT SECURITIES. |1 rm-y i-ISESS ASSOCIATION —BY BUSCTRIO •i'ELICIEArH— COrVKIOHT.) August ISlh, 5.G p.m.) LONDON, August KS. '■ lit folL".,'ins s.ie the latest quotations of i-.iveviraißni, n-curitiet;, compared with the ; rices on Aujust Gth: Last week. This week. £ s. d. A' s. d. ( ousu!* 57 12 6 o7 10 0 i'uuding: Loan, 4j •p-' ; o 19G0-9O .. .. 3J 12 C 05 0 0 War Loan, S tj.c., 1929•i: .. .. 101 17 6 101 3 0 Cau-ersici: Los.n, 3J p.c, ... .. 80 10 0 80 II 0 V ictory llonria, 4 p.c. 95 0 0 95 0 0 Commonwealth, 5 px'-, 1915-75 .. -- 71 0 0 71 O 0 Commonwealth, 6 p.c., 1931-41 .. .. 36 13 0 SI 10 0 Victoria, 3 p.c, 192JM0 47 O 0 50 0 O Victoria, 3f p.c,, 1929-19 51 10 0 53 0 0 Victoria, p.c., 1930-40 74 0 0 75 10 0 Victoria, 5 p.c., 1932-42 70 0 0 G7 O 0 Victoria, 4J p. 0., 1940-60 MlO 0 CS O 0 South Wales, 4 p.c., 1933 .. 70 0 8 69 0 0 New South Wales, S p.c., 1935 .. .. 65 0 0 63 0 0 Nc-w South Wales, 3i p.c., 1930-50 .. 53 0 0 IS I) 0 New South Wales, 64 p.c., 19G2-2S .. S 0 78 15 0 New South Wales, 64 p.c., 19S0-40 .. 33 0 0 79 10 0 New South "Wales, 6 p.e, 1930-40 .. 76 © 0 7# 0 0 Queensland, 5 p.e. Stock, - redeemable 1940-60 68 10 0 67 30 0 Queensland, 3 p.c., 192&47 .. .. 4.7 0 0 46 0 0 'Ju;cnsland, 6 p.c., 193040 .. .. 81 V 0 O 76 0 0 .'•ew Zealand, 4i pe., 1948-58 .. .. 90 IS 0 90 5 0 New Zealand, 3J p.c., 1940 .. ... 34 17 6 35 7 6 New Zealand, S p. 0., 1946 .. .. 76 16 0 76 S 0 New Zealand, $ p.c., 1986-51 ... .. 103 0 0 109 0 0 Sonth Australia, St p.e., 1939 .. .. 81 0 0 61 0 0 Peuth Australia, 3 p.e., 1916, or after ..MOO *790 South Australia, 6J p.e., 1330-40 .. 94 0 9 84 5 0 Tasmania, 35 p.e., 193040 .. S3 O J 50 10 8 Tasmania, S p. 0., 191040 .. .. SS 0 « 65 0 0 Tasmania, ish p.c., 19J3040 .. .. W 0 0 8T 0 0 Western Australia, p. 0., 1920-86 . T1 .0. 0 74 10 0 Western Australia, S p.c., 1915-35 .. 65 10 0 65 10 0 Western Australia, G p.c., 1950-10 >, 81 10 0 79 0 0 l-OREIGN EXCHANGES. (*ritish or»icur. wi&blzss.) ClteceiYfd August 14th, 5.5 p.m.) BUG-BY, August 13. The following are the current ratee of exchange compared with those ai August Jlth and par:— Par. Aug. 11. Aug. 13. Paris, fr. to £1 .. 124.31 133.95 123.94J Brussels, belgas to £1 85 31.87 i 34.88 Oslo, kr. to il .. 18,159 18.16 a 18.1% Copenhagen, kr. to XI 18.159 18.16 i 18.1GJ Stockholm, kr. to XI 18.159 18.15J 18.15J Amsterdam, fl to £1 12.107 12,05 12.01J Berlin, reichmarken to £1 .. .. 20.4 a 2CJ 20J New York, dol. to £1 4.8G6 4.83 13-16 4.86 13-16 Montreal, dol. toil 4.866 4.87 13-32 4.87 7-10 Prague, kr. to £1 .. 164.33 163£ 164 Geneva, fr. to .. 35.22G 24.9 24.91 Milan, lire to il .. 93.43 92.85 92.85 Vienna, echgs. to £1 84.585 34.55 34.55 Helsingfors, marks to £1 .. .. 193.25 J93 193 Madrid, pesetas to £1 .. .. 25.225 &>.45 56.56 Lisbon, escudos to £1 .. .. 4.50 110 i 110£ Athens, chad; to i'l 375 375 375 Bucharest, lei to £1 818.8 817 817 "Rio de Janeiro, pence to milreis .. 4.988 8 5-82 3| llucnos Ayres, pence to dol 47.577 32± £'2J Montevideo, pence to dol 51 25 2811-18 Bombay, pence to rupee .. ..18 175 17 25-32 Shanghai, pence to tael .. .. 94i 34J 14| Honp-Kong, pence to do! 21 113 llg Yokohama, pence to ven .. .. 24.58 0412-32 242 BRITISH TRADE. IMPORTS AND EXPORTS DECLINE. •LXITEB SBXBS ASSOCIATION—BT KICIIIO TEUnXAPH—COPTBIOHT.) LONDON, Auguat 18. 'the Board oi Trade returns for the quarter show that imports decreased by £15,020,000, exports by £16,494,000, and re-exports by £1,927,000. The principal decreases were: — IMPORTS. £ t ; raiii and floiii 1,042,000 Meat -• 1,173,000 Dutiable food'and drink •• •• 1,207,000 Wood and timber • • 1,668,000 Raw woo) *' 1,640,000 Oil and seeds, etc. • - • • 876,000 Non-ferrous metais •• 751,000 Oils, fats, ard manufactures .. 3,710,000 EXPORTS, l ood and drink .. .-■ Coal 1,021,000 i ton and steel and manufactures .. ■ 2,295,000 Machinery •• •• Cotton yarns and manufactures .. .2,093,000 Woollen vams and manufectutes .. 760,000 Vehicle# .. -■ 1,809,000

THE FRUIT MARKET, j GHWISTCHURCH. 1 i Vegetables M ere m aiupio supply throughoat tho week, and prices were steady. Lettuces vera ia keen demand, often reaching aa high as 7s 3d ;i dozen. Apples were steady in supply. Prices were the same aa last week. Hie last shipment of Australian oranges arrived in a somewhat wasty condition, and will have to bo repacked. A shipment of Wamoan bananas is duo at Clirisicliurcli about tlio middle of uexi week. The average prices received at auction tor the week ended August 14th were as follows: —Apples, local, per caso uj) to 7s; apples, Delicious, per ease up to 9s (id; apples, cooking, per case *4s to tis; mandarins. South Australian, per caso up to 15s; oranges, Sydney, per caso "up to 15s; orangos, marmalade, per ease 9s 6d; jiassions, Sydney, per csse_ 12s to 14s; pineapples, Sydney, per caso. IDs to 168; pears, dessert, per halt-case up to ss; tcinatoes, dessert, per. lb 9d to Is 7d; boet, ]jer dozen bundles uij to Is; cabbages, per dozen, uu to 5s 9d: cauliflowers, per dozen up to 8s" iid; carrots, per dozen up to lOd; celery, per dozen up to 6s fid; leeks, per bundle 2s to 3s; lettuce, par dozen up to 7b 3u; marrows, per dozou 20s; potatoes, per sugar bat; Is; onions, local, per sugar bag ils to 3s lid; parsnips, per dozen la; potatoes, per sack 3s to 3s 6d; radishes, per dozen •id to Is; rhubarb, per dozen 16s; spring onions, per dozon Is tid; turnips, per dozen <M to Is; spinach, per dozen Us; swedes, per sugar bag, local Is, southern 2s; etrga, first grada Is Id to Is 2d, seoond grade Is to Is Id; duck csgs, Is Id. "~~™ l DUNEDIN. | I THE PRESS Special Service. J | DUNK DIN, August 34. Good supplies of apples are still coming forward from all districts, Prices remain unchanged. Tho low prices o£ oranges ore lo a certain extant affecting ihe &ale oi: apples. Small lots of pears hava been arriving from Central Moat of the lines aro not in the best of condition and liavo to bo sold at, low ratos. A small shipment of Fiji bananas arrived during the week. The Maui Pomare is expected tin Monday with a full shipment of Samoana. Tho local price has Veen iixed at 17s 9d per case. Xo further shipments of Australian navels are expected until the arrival of the Wainui from Melbourne on Tuesday and tho market is now firmer. The Waikouaiti arrived during: the week from Bydlisv with a shipment of navel and Seville oranges, mandarins, pines, passions, etc. The shipment has been practically sold out of wholesale hands. Lemons _ are in shorter supply and tho market is firmer. GENERAL MERCHANDISE. ! - j GROCERIES. | Wholesalers have found trade quite j»no(l this woek, considering that it was » holiday period. The new primago dutios ore being collected, and all imported, lines are consequently showing extra costs to land. Owing to increased exchanges, estra primage duty, and in some cases extra f.o.b. costs, merchants are finding the importation of goods bocoming more difficult and with more money required to finance the importations. A new prico list has been issued by one broom manufacturer, lowering the prices of certain lines. This, it is expected, "will ba followed by other makers issuing fresh lists. Eggß. This market came down aa expected, and. many country storekeeper# have reduced their buying prices. So far, tho preservers have not isauod lists, and these ara anxiously awaited, as on their lists will depend tho market value for eyes for August and September, v/hen the preservers usually cease oper^tipn?,^: Paper. A new line of paper mad# in New Zealandwill shortly be available for retailers. This is white cap paper. Unbleached cap has. boen made in New Zealand for years, but. whit# cap, of which a considerable Quantity is used, has been imported. Sugar. The sugar position has caused some confusion this week. It was. stated in this column recently that tho new duty on sugar was not in operation. This was the first information on this point, and yesterday this statement was confirmed by an official an; nouncement. Tho sugar out of the Wingatui was oversold at old rates, and a sugar famine amongst wholesale merchants now exists until fresh supplies arrive about Tuesday next. This shipment will be charged by the Sugar Company at the price ruling on date of doI livery. By that time the new duty may, or I may not, bo on, but the position will be ascertained when the papers arrive. _ The main rush by the public to purchaso sugar seems to be oyer, and rotailers 1 requirements for sugar mu3t be small until such time as the public, consume the stocks they have laid in, Kuta. Peanut kernels are extremely short in Christchurch, and enquiries for supplies from other parts were, resultless. It will be . a while yet before fresh stocks are available, and in the meantime wholesalers are unable to fulfil orders. Jordan almonds have weakened, and very low quotations are now available for September shipment. Sicily almonds are weaker again, and look good buying. The trouble, however, is that most of the business has boen done in both Jordans and Sicilians. Barcelona nuts show a cheaper price for now crop .arrival, equal to About Id per lb. This line it is considered will not be a very heavy seller this coming season owing to the very low prices of Brazil nuts. It is a wellestablished fact in the trade that the public will generally swing over to Brazil nuts when they lire similar, to, or cheaper than, Barcelonas, and this season this will be the case. To*., The usual auction' in Colombo was held on August 4th, and the. Calcutta sale on August sth. Both sales produced spirited bidding for all lines, exoept at Calcutta, where common teas were weak, and declined slightly. The Calcutta entry was 33,000 packages, which included fiOOO packages of cheap, low value teas. All teas showing liquor were in strong demand. At the Colombo sale 2,000,0001bs were entered, and prices ruled similar to the previous action. The common grades held their levels. This is believed to be due to the presence of low grade tea buyers at tho Colombo sale, and their inability to attend the Calcutta solo, owing to closeness of the dates. Salmon. Salmon pricos for the now pack have been varied, and they are well down when compared with ■ last year's values. Even aftor allowing for tho cheap rates quoted some months ago, the present quotations represent a good reduction. It must, however, be borno in mind that the present unsatisfactory tariff between New Zealand and Canada may still be ruling when this salmon is due to land about October, and any reductions in the f.o.b. values may be lost in exchanges, duties, surtax, etc. At present it is difttfiult to forecast landed costs, but buyers should obtain a duty paid ex ship prico to be on the safe side. Cheese. Cheese is in good demand, with stocks low. London prices aro such that lower prices locally cannot be looked for. Retailers should now consider covering their requirements for the next three months for old season's cheese. After that new make should be in a satisfactory condition for general counter trade. Dates. . Prices for shipment from London tor dates covering arrival January-May have been ■varied, and are based on an, all round increase of 10s per ton over present quotations. . Batatas. The Californian- raisin ijjarket ia very firm, and thero is • now apparent an all round tendency for higher prices until the Christmas trade is over, when they may decline. Golden bleached seedless top the price list, with seeded raisins well up. The present cheap price at which seeded raisins are being sold locally in retail shops cannot last long after the arrival of new season B crop, when retailors will get a surprise at the increased landing costs. Carraw&y Soedß. Dutch carraways to land In October-Novem-ber are now attracting attention. November appears to be a very time to operate, as very low ex ship quotations can be obtained from merchants. OarrAways are tho background of praewcaily all curry powders, and the l

winter demand in Europe is expected to Dtiften the carravay market when tho spice grinders staTt operations. Jellies. Kew prices for jelly crystals cannot be named until tho sugar duty question is settled, but in some cases packers have issued lists based on sugar at Jd per lb increase in price. Should this be lowered correspondingly cheaper quotations will be available. Singapore Markets. There is nothing of importance to mention on this market this week. Pines, sago, and tapioca are stationary, and no buying of importance is taking place. Orders have been cabled up and the steamer Karbada ia now due to leave Singapore. She should roach Lyttelton in the second week of Beptember. METALS MARKET. (UKITEP PKESS ASSOCIATION—BT ELECTRIC telegbaph—copybight.) (Received August 14th, 10.20 p.m.) LONDON, August 13. Metals quotations aro as follows: Aug. 10. A up. IS. ton. per ton. Compel— -- ». <J. s. 'JStandard, spot .. 32 10 ~i\ 32 11 10J Forward . • .. 33 9 4 j :i."> 11 8 Electrolytic 35 0 0 1)5 0 0 to • .. 86 0 0 ::8 0 0 Wire bars . - 36 10 U »G 10 0 Lead— Spot . 12 2 LI 15 0 Forward .. •• 1- 7 tj IL 16 10J Spelter— Spot •• 11-7 n 5 0 Forward .• 12 O O 11 17 TinSpot -• 313 H 3 116 0 0 Forward .• 115 1 " 118 12 0 Silver— Standard, per oz. 1." 0-163 tsjd Fine, per oz. .. 13 9-l(id 12{jd

Keturu i prica j on ! mvcBtu.ent at market. ColUi-'itJi't®-1 paid ! per J sh'e. | JJ uyc-xs. (Appro*. ; Sellers, 'market 1 j price i i 1 i Appros. market price a year ago. ,a o o »fj P o | Dh'- | 1 i:.T a-y.o. J Banks - Adelaide Aust. oj Comm. Australasia Com i»]. or Ausi. (Jcuivn. of A\.et. (pur.) Comm. of Sydney 10., S., and A. .. Aat. of Aus'asia, Nn;. of Aus'aeia (coiifciO __ . ■ ■Rational of N.54. New South Wahs Now Zealand Union £ j i j 5 "'I |! V) | £0 .i. 0 o 3 3 G ia s It: 30 10 8 6 d. " 0 6 ' 0 0 0 0 13 8 31 o ia 5 18 3 1G 8 13 25 0 •2 8 G 8 s. el. 0 0 o ; 0 0 5 0 £ 3. ■< 0 0 13 8 9 0 13 5 10 12 15 3 is 9 15 1 7 S 17 24 12 'J S G 7 d. 0 l> 0 3 0 0 0 0 6 6 0 £ s. d. G 7 0 1 '1 U 11 15 U 10 3 6 7 0 20 10 0 5 17 0 Ji 2 0 6 17 G 5 14 G 36 10 0 3 16 0 10 13 G £ i Ki Hi ■i 6a cl"i< ' 8J 8a 10 d9i 7 Kov.-iiay Jan. -July Oct.-Hcli Ott.-Mcli. Keb.-Aug. May--''"''-Nov. -May Nov.-May .Tan.-July Quarterly (F„ My., i Deo.-June Jan.-J«ly i i S. d. 8 io o 0 8 0 7 13 1'J •8 9 9 "Go 0 G 8 6 8 0 a i t ■* 9 H 3 6 9 10 7 G is .,N.) 5 18 4 5 10 2 Insurance — National New Zealai.d South Britisb standard \ ■ 3 10 s 2 0 2 U . (J 6 0 12 J IS :3 30 5 9 0 9 0 0 H 0 2 19 2 10 6 2 17 G 10 2/2 m I^eb.-Aus-Apl.-Oct. Mch.-So'p. 5 17 7 5 5 3 5 5 1 5 U 1 , , Loan and /nency— Palgety a mil Co. 5 Goldsbiougb, il. I Ouovantce Coj-pu. fis L'nitrd Building 1 0 0 J It 0 0 0 0 0 19 0 15 0 6 G S 0 19 0 t 0 It O 6 9 12 0 J. V 7 0 7 9 0 15 9 bin Si May-Nov. Pec.-Juno Mar.-Oct. Oct.-Apl. 4 12 S 5 3 0 11 16 3 7 0-1 Frozen Meat— I < r Li > ' N.Z. licfrig. N.I'. llefriz- Cecil. 1 i. 103 0 1 0 lu ij o a 0 2 t> 0 10 0 3 (' ti 1 I 17 0 0 10 G 0 -i 9 ulO i J unc-C'ct. I'Vo. fob. 3 1G 11 CrU5 - Auckland Auckland (conic.) ('lirinteliurch Cliristchuroh (con.) Ttu'.aru j 15a I lUii 1 1 1 0 4 11 ti e 9 0 i ;J 0 17 1 5 0 11 0 (i 0 9 14 0 0 17 9 1 i 9 0 12 9 1 1 S a S 8 8 S July-i'eb. J uly-Feb-Aug'.-Feb. Aug.-Feb. Aug-.-Feb. C 19 11 6 17 1 0 8 0 G Hi 2 Shipping - l'u<l<lar!> ••L'uivio! V. ami 0. Dcf. Vuion (pre..; ; i ; 0 19 a a j. -J u . 1 1. : o C 0 i i 17 e 1 a 5 o ! i o a 8 al 9, Sep.-Meb. May-Dec. May-UP'-. 7 12 4 ■ 3 12 a 5 10 0 Coal— ' -i vey a' Ic. Taupiri j Wcatpor'.. i a .1 4 0 1 'J i i <, 0 1 0 1 7 6 1 12 3 ti 10 Jfay-Oct. Nov.-May May-Nov. 9 10 o 4 3 4 Woollens i Kaiapoi ! Tvutapoi (com i. Kaihpoi (prcf 1 .. l i IT* U 0 G 6 t) 0 !) 7 0 i 0 .... t'cb.-Aus;. Keb.-Aug'. fob.-Auff. :o 9 2 Breweries— Cantor New Zealand fctaplcn Tirnaru '1'imuiu icon.'' Touiirvii 'Jo Mil,. :i 10a 1 r, 6 1 !. U 0 0 G 1 jlj 9 (i 3 9 1 u 1 5 0 12 0 o 0 37 9 $ 6 8 IS I 9 I G 0 12 0 5 0 10 11 (> 0 ft. ' 10 0 2 10 9 2 4 0 o ia e 0 6 9 0 13 9 1 8 10 104 124 30 10 10 c'J Clli Oi't.-M«Ti. Jan.-July Aug.-Feb. Oct.-April Oct.-April Mcb.-Sep. May-Nov. - S R o 7 16 10 8 6 8 9 1 9 9 11 0 Miscellaneous! — Ai st. Cjlu£6 lSeuth and Co. .. Beat!) &, Co. (to.'i J-iritirh Tobaccu Hums, I'bilp Colonial Su'jar .. i'vtn'op Rubber Klectro. £ino K'.cctro. Zini'. tprct'. Henry Jones Kami Timber .. N./. Dmg Co. iiouiit> liVijl .Kuril). Kertihscr Whit, and Toinls AVi'scn's Cement i •Ji ) ■:sa - x . i 1 0 2 1 3 0 5 (1 6 0 H 0 10 1 15 'J 4 0 0 0 0 c 0 .1 4 0 3 1 a 33 0 0 11 0 1G 0 1G 6 10 6 0 G 9 10 1 3 1 2 0 i 1 ;; 1 s Z\ 5 0 10 0 IS 0 s 2 12 u 1C 0 io 2 13 1 1G 0 9 a c 0 0 0 9 6 0 9 0 0 6 1 J2 0 18 0 0 G 9 1 :7 u 1 13 G 37 0 0 0 13 9 13 0 1 7 6 0 13 0 3 9 6 12 1 0 19 r 3 9 ( 2 0 £ G 10 10 bl2 10 325 <G + 10 + 10 a7J 24 10 alO 8 121 De«.-June Mcli.-Sop. Mch.-Sep. March N'ov.-May May-Nov, Apl.-Oct. Mch.-Sep. Mch.-Sep. June-Dec. June-Dec. Sep.-Apl. J uiic-Dec. Mcb'.-Oct. Nov.-Jnne o i i a 15 9 5 2 1 7 2 10 7 5 11 2 10 0 5 G 8 7 7 0 7 13 I" 5 19 4 7 10 11 G 16 11