FINANCE AND COMMERCE.

Press, Volume LXVIII, Issue 20648, 10 September 1932, Page 12

FINANCE AND COMMERCE.

SHARE MARKET. WEEKLY REVIEW. HEAVY TRADING. The past week on the Affiliated Stock Exchanges throughout New Zealand has been marked by heavy trading in shares in the banking, pastoral, frozen and brewery sections, and in certain Australian industrials. All sections of tho market opened firm and in most groups further advances were recorded, although hero and there a weakening was evident at the close. Insurance, Coal, and Gas company shares were quieter. The following is a .comparison of <he daily recorded volume of business on the local market for tho past fort-

Analysis of thia week's total, which i' the second highest this year, gives the following results; last week's total in parentheses. Debentures £B9OO (£1000)j Banks £9021 (£7454); Pastoral £3386 (£3061); Lyells £3774 (£828); Refrigerating £I6BB (£756); Breweries £1797 (£1938); Insurance £t3o (£676); Mining £1642 (£1351). Four and a half per cent. Stock, due 1938, was easier with dealings at £95 2s 6d and £9s— due 1939 was 2s 6d down at £95 ss. Five and a half per cent. Stock, due February, 1937, changed hands at £99 and £99 2a O'd—that due September ranged from £93 17s 6d to £99 17s 6d. Five and a half per cent. Bonds due September, 1937, rose from £99 to £99 10s. Five and a half per rent. Bonds, due 1936, were firm at £99 2s 6d. Banking Section. In the Banking section Australasias, cum dividend, had dealings at £9 10s, £9 Ba, and £9 9s. Commercial of Australia advanced from 14s 6d to 15a Bd, relapsing at the close to 15s 2d. The local turnover was 2650 shares—the preference were easier at £ 7 Is. Commercial of Sydney have improved demand at £l4 12s 6d. E., S., and A. rose 0s 6d to £4 17a 6d, but later eased to £4 14a and £4 15s. National of Australasia fully paid went from £ll 9b 6d to £ll 15s 6d and the £5 paid from £5 14s 9d to £5 17s 6d. National of New Zealand scored a rise «f Is ©d at £4, and more are available at that price, buyers Is below. New 800 th Wales moved up to £27 10s and £2B, and late buyers ayo offering £27 12a 6d, Beliefs at £2B 2s 6d. New j!ealanjlß flrrnad from 47s 04 to 48s 6d and closed firm—on the local market 900 shares changed hands. Tlio "D" Mortgage shares advanced Is 6d to business at 89s 6d. Union Banks were firmer at prices ranging from £7 7s to £7 14a 6d.

Insurance and Loan and Agency. National Insurances were fractionally Armor at 14# 3d and 14s 4d. New Zealand hardened to 42s 9d, and late buyers are offering 435, sellers at 445. Booth British were firm at last week's closing level, 57# 6d. Dalgety and Company were fairly active at from £ 7 19s to £,B 2s 6d, against £7 15s and £7 19s 6d last week, and closed firmer at £8 4h buyers, £8 10? sellers. Goldsbrough, Morta moved between 25s 4d »»4 39s ?d—1633 shares changed bands on the local market. Dominion Investment and Banking realised 18s 3d. New Zealand Guarantee Corporation showed Wttia variation at 5s 114 and 6s. United Building, cum dividend of 6d per share, remained at 15s, and late buyers are offering 15a 3d. fWpplng, Proaeu-Maat, Opal, and ©*#• Otvonport Ferry were steady at JSe •d. Union Steam preference advanced t® Sis. Canterbury Frozen Meat preference were placed at £4 6s, and more »re on offer at Si JQs, buyer# at £4 U fld. N.Z. Refrigerating were weaker -~M*e fully paid declined from lis 4d t« 10s lid, closing at Us id, and the 10» paid from 4a 5d to 3s lid. The leetl turnover was 5912 shares, Stockton vo»| preference shares were fractionally inner «t Is Id and Is 2d- Auckland Gas were firm with dealings in the Uf paid at Jss 2d and 15 s 3d and in tbe folly paid at 28s. Woollen Company shares were dull 'and inactive. Breweries. Now Zealand changed hands at prices wbMi steadily advanced from 27« 3d. to 30a. On the lopal market there was a turnover of 1050 shares. Tooths, were inner at 28s 9d and 20s. staples, which ro#e to 25s 3d last week, have buyers at 26a fld, but sellers want 30s. Miscellaneous. Amongst the Miscellaneous Stocks British Tobaccos, Electrolytic Zinc and Mount Lyell were the most popular at improved prices. Beath and Company la paid had dealings at Is 9d, 2s, 2s 2d, 2s sd, and 2s 6d. Bycrofts were Is better, at 31s. British Tobaceos, e*W» dividend moved up to 30s 3d, 30s Wi 30a£d. Colonial Sugars changed bands at £45 5s to £4l 30s t compared with £44 7s fld to £45 2s 6d last week. Xhinlop Rubbers, cum dividend, hardened to 15a and 15s Id, closing easier. Electrolytic Zinc ordinary rose sharply to J7# 7*l and 17? Bd—the preference fliun dividend ranged from 25s 2d to ST* 9<l to 25s 9d as against 24s to 29* 3d lost week. The Toeal turnover in both issues was 3500 shares. Henry Jon©# firmed to 31s and 30s 9d. Howard went from JJs to 10s. Ttattf* relapsed to JOs 3d. Morris IW«tfOT» ?ealiie4 ]3# h\. Mount Lyells *••• f*o» 31b 44 to 82s 9d, closing at «|» lid—-there was a local turnover of 3435 shares. Shttrlanda were placed at 17». Taranaki Oils were fractionally weaker at la 9d. Union QU Soap and Caudle advanced to 245. Wilsons Cements were turned over at 3Sfo 6d, 33«, and 345, against 31e and 3I» (Jd last week. Gold M(, The local turnover of 13,550 shares BW<le np as follows, last week's fig- "'«» W [Wi Corulab Point m (■—); Golden Pojfl 3500 (3800) j GUJespij's Beach SOO Hi Kilf Selojnon JgOQ (18QQ): Mahakipawa im (8000) j OlwilQ 750 (1300); Paddy's Point 150 (200); Walhi 400 (—); Grand Junction 400 (800). Blackwater rose from 13s 9d to 16s. 4d. Cornish Point# were easier at 2a. Golden Dawns had dealings »t 5s ?d find 5s 2d. Golden Point firmed to 9d, 9fd, and 10|d. £iW«fe realipej Is 4d «»« SoJpuwo moved betwgen lOd £*£s»%£ ]Wl4* *t id and 4}4. O&aritos slowed nttti **rf»tion at 8a 3d, 8a 4d, end

8s sd. paddy's Point were firme? at prices ranging froqi 5s to ss. Waibia advanced from 16s Id to 17s 2d. Grand Junction hardened to 3s. Gillespie's Beach were steady at 2d premium.

YESTERDAY'S TRANSACTIONS

Markets generally continued firm on cajl yesterday, and tjiere was a good volume of diversified business with heavy trading in Bank shares, Refrigerating, Zincs, and Lyejls. Transactions, exclusive of vestibule business, were: 500 Comm. Bank of Aust. • 50 Comm. Bank of Aust (pref.). 100' E., S., find A. Batjk. 12 Bank of New South Wales. 200 Bank of New Zealand. 40 Union Bank of Aust. 50 Pjilgety and Co. 100 South British Insurance. 500 N.Z. Guarantee Corpn. (late sale Bth). 200 N.Z. Refrig. (£1 paid). 1900 N.Z. Refrig. (10s paid). 100 Tooths Brewery. 100 Westport-Stock'ton Coal (pref.). 300 British Tobacco (cum div.). 5 Colonial Sugar (late sale Bth). 100 Electro. Zinc (ord.). 400 Electro. Zinc (pref. cum div.). 1300 Mt. Lyell. 100 Wilson's Cement. 1000 Golden Point. 1300 Mahakipawa. 300 Waihi.

Commercial Bank of Australia shares declined from 15s 6d to 15s 2d, and there were further sellers at 15s 2d; buyers at 15s Id—the preference weakened to £7 Is. S., and A. Bank shares were Arm with sellers and business at £4 15s, buyers at £4 10s. Bank of New South Wales advanced to £2B, market closing £27 12s 6d buyers, £2B 2s 6d sellers. Bank of New Zealand shares were firm at 48s 6d, and TOoro were offered at that price; bilyers at 48s 4d. Union Bank of Australia Bhares moved up to £7 14s 6d, closing quotations £7 12s 6d buyers, £7 15s sellers. Other Shares. South British Insurance shares were firm at 57a 6d, closing quotations 6d on either side. Dalgety and Company shares advanced to £8 2s 6d, and closed firmer with buyers at £8 4s; sellers at £8 10s. Gojdgbrough, Morts appeared easier with sellers at 25s 9d, buyers' at 25s 64. A late sal© of N.Z. Guarantee Corporation phares on Thursday was reported at 6s. United Building Society shares cum dividend were firmer on buyers' offers 15s 3d. N.Z. Kefrigerating fully paid shares had business at lis Id, and the partly paid at 4s, 3s lid, and 4s Id. Stockton Coal preference were fractionally firmer with business at Is 2d, and further buyers at that figure; sellers at Is 3d. New Zealand Breweries were easier with sellers at 29s Bd, buyers at 29s 4d. British Tobaccos advanced to dealings at 30s 9d, and more were offered at that price; buyers at 30s 6d. A late sale of Colonial Sugar shares on Thursday was reported at £45 ss, and sellers yesterday offered at £45 2s 6d; buyers at £44 15g. Electrolytic Zinc Ordinary shares were fractionally weaker at 17s 4d—the preference had dealings at 25 9d—a drop of 2s from peak price on Wednesday. }ft, Lyells relapsed to dealings at prices ranging from 28s 3d to 21s Jld, buyers Staying in at the lgwest price} ssllera at 225. N.Z. Farmers' Fertilisers were firmer on buyers' offers 14? 3d. wilqou'a Cements scored a ripe pf Is, with bupipess at 345,

Golden Point Gold Mining shares remained unaltered with buyers and business at 9Jd; sellers at lOd. Mahakipawas were a shade stronger at 4}d; market closing buyers, 5d sellers. .Waihis rose to dealings at 16s 7d, 17s, and 17s 2d. Buyers of Grand Junctions raised their bidß to 3s 3d, sellers at 4s.

AUCKLAND. [THE PRESS Special Service.] AUCEX<4 , NP ) September 9, Substantial gains throughout the mat' ket were registered in the week's trading pn the Auckland Stock Exchange. Heavy dealing accompanied the rising prices, and although some issues experienced a setback at the close of the period, prices generally were well maintained, and sellers showed an increasing inclination to hold off. steady conditions operated i» Government loans, in which the turnover was fairly light> Commercials of Australia and Unions were exceedingly active in banks. Commercials were lifted from 14s 8d to 15b Sd in daily transactions to Thursday. To-day the market relapsed slightly and the shares were secured at 15s 3d. Unions, however, maintained their strength throughout the week, during which they appreciated 8s to £7 14s. New South "Wales gained 5s to £27 10s, and National* of Now Zealand moved up Is 6d to £4. Dealing in New Zealanda opened 3d firmer at 48s, and closed at 48s 4d after a mid-week rise to 48s 6d.

Insurance issues remained very strong »nd New Zealand? rose 9d to 48s 9d, and South British were placed at last week's higher priee of 57s 6d. Goldsbrougli, Morts rose 0d to 20s, British Tobaccos advanced 8d following the dividend announcement, while Colonial Sugars lost ,2s 6d in the week's trading, changing hands finally at £45 aftor two earlier sales at £45 7$ 6d. Other miscellaneous lines moved favourabjy.Marked activity was displayed in mining shares, for which the enquiry was extended tq the Malay tinfieldq. Blackwaters registered a sharp upward movement in two transactions at 15s 3d and 16s 4d, a rise of 3s 4d since last week. Extensive trading in Waihis was accompanied by a steady advance from 16s Id to 17s, while Grand June-' tions Also made better prices. The rise in metal prices was reflected in firmer rates for' Mount Lyells, which had salo up to ?3s, as against last week's best price of 2ls. Kuala Kampar were dealt in after a long period of neglect at 6a 9d. * DUNEPIN. [THS PBEBS Spaelal SprTl**.] DUNEDIN, September 9. The brighter tone in the markets generally has been reflected on the Stogk Exchange, and business has been fairly evenly distributed throughout the various sections. Bank of New Zeaiands were dealt in at £§ a Bb, £9 8s 3d. and S8 ficlj the Jast transaction bejiig ported aftor the close of the market, The closing quotations were £2 8s 3d (buyers) and £2 8s 0d (sellers). Commercial Banks continued to improve gradually. Commeacjng the week with «n unsuppjipd buyer ?t Hi 74, the demand steadily increased, and business was do»e at 14s 10d, IPs 3d, and 15s fid. The market ft t the close with buyers wanting shares at 15s Sd, and sellers demanding 15s 7d. National Bank qf New inlands, which commenced the week with ft buyer »t £3 Jfi, firmed steadily, aijd business was done just before the close at £4 0s fld. They were later on offered at Is mere, but there j

was no buyer forward. Insurance shares continued steadily in demand, but no business resulted. Kaitangataß were wanted at 3d discount, with a seller in tho market at Is 3d premium, There were offers of £8 for Dalgetys, with sellers demanding Is more. Contributing New Zealand Rofrigeratings were turned over at 4s 3d, and then eased to business at 4s Id. They are now being offered at that figure with no buyer in the market. There was a sale of ordinary Kaiapoi woollens at 5s 3d, but there was no demand at the close of tho market. New Zealand Breweries had an excellent demand, and business was done at £1 9s 3d. The market closed with a buyer at £1 9s 6d, and a seller at £1 9s 9d. A sale was reported at the latter figure alter the last call. Tooth's were dealt in at £1 9s, but there were no quotations at the close of the market. Offers of £1 5s 8d for preferred Electrolytic Zincs to-day failed to attract sollers. Kildares, which have been easing lately, were dealt in at Is 4d. Five parcels of Qkaritos changed hands at 8s 3d. The demand improved to Ss 4d, sellers then demanding 8s Bd. Paddy's Points had business at ss, further offers of 4s lid finding sellers firm at 5s 2d. King Solomons, which were dealt in at Is 9|d, had an unsupplied buyer at the close at Is Bd. The only business recorded in the Government Loans section concerned a parcel of 54 per cent, bonds (September, 1937), which realised £99. An offer of 5s less at the close found sellers demanding 5s more.

WHEAT TRADING. CARGOES, FUTURES, AND PARCELS. (tUTITED PRESS ASSOCIATION —BY BI4SCTWC TELEGRAPH —COPYRIGHT .) LONDON, September 8. Wheat cargoes are quiet, sellers being willing to accept 6d less. Parcels are in good demand. • Futures are quoted as follows:

AUSTRALIAN QUOTATION. MELBOURNE, September 9. Wheat is easier. Nominal—3s 7d a bushel. ITALIAN WHEAT. A RECORD CROP. (united press' association— by elictrio TELEGRAPH —COPYBIQiIT.) LONDON, September 8. The Home correspondent of the Post" says the official announcement that this year's wheat crop is 72,000,000 buahels, the largest ever recorded in Italy, has created enthusiasm among the agricultural population. » It make? Italy practically self-sup-porting in respect to wheat, thanks to Signor Mussolini's campaign, initiated in 1924.

DUTIES ON WHEAT. AN AUCKLAND DESIRE. (PRESS 4SS3CUTION TELFOiUU.) AUCKLAND, September 9. The Auckland Chamber of Commerce is circularising all members of Parliament, asking them to support the appointment of a disinterested non-political commission to investigate and advise on the present duties on wheat. The chamber contends that under the present conditions there is a natural protection to local wheatgrowers or Is 6jd per bushel, which, plus perhaps a small specific duty, should bo ample protection. COMPANIES REGISTERED.

The following registrations of. now compares appear in th? current isjjfle of the *'Mercantile Gazette": —: Hawkins (C. B.), I4d- —Registered a» a private company, August Sift, 1032, Ofllce: 970 Montreal street, Chr>Btehurch. Capita]; £SOO, into @OO share?) of each. Subscribers; y?, J!, Hawkinp 1, O. R. Hawkins 499, Objects; To carry on business pf manufacturers and dealers in postal franking machines and incidental. Millers (Hokitilca), Ltd.—Registered as a private company, September Ist, 1032. Office: tfevell street, Ilokitikt*. Capital; £2500, Into 2500 shares of £1 each. Sub- ! scribersr A. McDougall 2000, J. McDougall 600. _ Objects: To purchase and acquire tho premises, goodwill, and assets of business carried on by. A. McDougall apd carry on business of general clothiers and drapers and incidental. Pinplre Motprs, Ltd. —Registered as « private company, August 27th, 193?. Office: Devon street. New Plymouth. Capital: £BOOO, into pOOO shares qf £1 each. Subscriber*: Npw Plymouth—F. {5. Bqylq 1, R«ver Co. of N,?., Ltd., 2999. Qbjpctß: To carry on business sj9 mechanical and electrical engineers, motor garage proprietors, and general incidental. New Zealand Woolpack and Textiles, £td. August 80th, 1932. Offlce: i3O Brandon street, Wellington, Capita); £300,000, into 800,000 snares of £1 each. Subscribers: Wellington^—A. P. Roberts, J. J. Esson, A. W. Press, H. H. Sterling; Auckland —E- Anderson; Poxton—D. R. Ogilvy: Christchurch —F. Kfiwburgh; Outrafr}- —It. H. M. Wylie; Invcreargijl—T. H. Watson, 250 shares each. Objects: To carry on business of manufacturers of sacks, sacking, matting, hessians, woolpacks, engineers' waste, and general incidental. Afforestation Underwriters, T4<J.— Registered August 31st, 1932. Capital: £5000,' in 50,000 shares i)t 2s esch, Subscribers; Auckland —L. M. Grange, A. T>. Brown, I). K. Litherland, J. JJewitt, 11. R. Staples, A Grange, h. Hewitt, 1 share each. Objects: Underwriters, brokers, trustees, etc., and incidental. Brickettes (N.Z.), Ltd- —Registered September Ist, 1932. Offire: 21' Lamhton quay, Wellington. Capital: £4OOO. into 800 shares of £5 each. Subscribers: Wellington—D. J. JfcOownn 2, O. Mitchell 2. N. W, Stevens 1, F. J. Fpot 1. P. M, lMnd]ay and Moi? 1. C. W. Pettmnn 2. Christchurch—G. ,T. Smith 0. Objects: To acquire the rights of Charles Walter Pettwah in *nd to the patent rights ?nd formula to develop, market, and or dispose pf the said rights, Proi-csses, or patents, to carry on business of chemical manufacturers, miners, smelters, engineers, colliery proprietors, and general incidental. Now Glass Manufacturing Co.. T4d.—Regjstpsed Augml 30(h, 1932. Capital: £15.000, into 15.000 shares nf £1 each. Suhscriberp: T'unedip-rT-R, If, Stevenson, ,T. P. Lane, A- ?• Bremner. M. S. Roberts, L. H. Frapwell, Wm. Laidlaw, \v. p. Lambert i share each. Objects: Manufacturers and importers of and dealers in glassware of every description. CLEARING SALE. Jones, McCvostie Co., Ltd., held a successful clearing palp of (luniture »nd effects in their Toorop yesterday. The following M'erp arooi)g*t the prices realised •uite £l4 10s. duchesee chest £5, duches-e chest £4 lOw, 2 roll* linoleum £B, 6 -single bedsteads ftt £3 10* each, 4 single bedsteads £1 17s fid each, settee £1 7s 6d, duchesse phest £1 lis, 3 chairs fl, pedestal cuphoa.rd £1 10», pedestal cupboard £l, gate-leg tatle £l, «l«ctrio shad# 345, joy oypla £l.

CANTERBURY MARKETS. POTATO PRICES FIRMER. (B* OUR COMMERCIAL EDITOR.) Friday Evening. Ihere lias been a sharp rise in the potato market during the last few days, equal to practically 10s a ton. Prompts have been sold at £(i 2s 6d f.0.b.5.i., and it is reported that a lin© of Septembers was sold at £6 10s. These were tho quotations this afternoon. The advance in tho market diverted some attention to Southland supplies, and a little business was done this last fe.v days at £5 5s Bluff and £5 15s Dunedin for the Waipiata, which will bo sailing from the Bluff to-morrow. Slie is expected to lift about 2000 sacks from tho BlutF, but her Dunedin cargo probably will be light. She is duo at Lvtteltcm :|boLit Wednesday. The Wingatui sailed from Lyttelton last night with 157.3 Backs, in addition to 530 from Timaru, and the Port Waikato is duo to sail to-night with 1360 from Timaru and 1100 from Lyttelton, a good proportion of which will be for out-ports. The total i* about 4600, and ordinarily would qnickly go into consumption, but shipments have been so regular of late that northern boards have been given little chance of clearing. It has been the regularity of the shipments this season that has been the main factor in restricting Auckland enquiry. Merchants there have had no need to worry. The quantity of potatoes still in farmers' hands is difficult to estimate, but there are few large holders. Quotations on trucks ar© £5 a ton for whites. Fowl feed remains very firm and is quoted at 4s 10Jd f.o.b.s.e. Chaff remains nt £3 10s a ton on trucks, but there is no life in the oat market. Quotations. Tbe following are quotations for produoe to be paid to farmers, on trucks, free of commission, sacks extra, except where otherwiso elated; Wheat —Wheat Marketing Board's price, Tuscan 4s IOJd, f.0.b.; Hunters, 5s OJd; Pearl, 5s 2jd. Fowl Wheat—4s 10d to 4s 10id. Opts—A Gartonp, 3s for prompt; B's 2s 9d; Algerians, 3s. Potatoes—£s. Partridge Peas —To 5s 7d. Barley—3s. Cocksfoot —Akaroa Cd; Plains 4d to

on. Perennial Ryegrass—4s to 4s 3d. Italian Ryegrass—3s 9d to 4s. Chaff—£3 10s. White Clover—ls 0d to la Bd. Cowgrass —lOd. Bran —£4 a ton for shipping and £5 a ton local. Ppllard—£s a ton for shipping; £6 10s local. Flour—£l3 12s, with the usual increments for smaller packings. ASHBURTON MARKET. The potato position has undergone a change during tho week. Values have increased «s there has been more enquiry from the North Island. Fowl wheat 5s also In demand and is difficult to procure; Sales have taken placfl at 4s 101 d f.0.b., sacks extra. Tho chaff market is still lifeless, quotations to farmers being from £3 13s <id to £8 15s per ton. Garton oats are in demand for peed purposes. The market for small seeds is brisker and good business is reported. liyegrass is reported to bo in short supply. The following are quotations to bo paid to farmers, on trucks, country stations, sacks oxtra, unless otherwise stated:— Wheat—Tuscan, good milling, 4s lOJd; Hunters, 6s OJd; Velvet, 6s 2id; fowl wheat, 4s 9d (all f.0.b.); wheat secondß, 3s 9d. Oats—A Gartons, 3s; B Gartons, 2s lOd; Algerians, 3s; good heavy dark Duns, 8s; feed, 2s 6d. Grass Seeds—perennial, 4s; Western Wolths and Italian, 8s 9d to 4s; red clover. 9d to lOd; white clover, Is; cocksfoot, 6d; linseed. £(! 30s on trucks. Chaff—Good bright oatsheaf, £3 12s Cd per ton. Partridge Peas —No. l's, Ss lOd; f.a.q., 5s Gd. Potatoes—Whites and Dskotas, £i 15s per ton. DUWEDIN. [THE 7SHBS Special Servjc#.] DUNEDIN; September 9. The month of September has brought forward one or two small lines of wheat from tho country, and these have been accepted by millers. The fowl wheat market |s quiet and merchants are not showing much anxiety to buy, as tho importation of this variety of wheat from 4u»tralja has affected the position- Any business "soitig through is on a hand-to-mouth basis, but on account of th© shortage locally tlicro is n° in prices to record- A number of lines of undergrade fowl wheat are offering, and it difficult to place tlio»o at va)up» ranging from 4s to 4s od, sacks extra, px stores. Small lots of good wheat are realising up to 5s per bushel, sacks extra, ex store. Tim oat market continues to drag, and business is difficult to secure. Miller? are pot buying, and tho only transactions going through are the filling of small orders for shipment to the _ North Island. Prices remain unnhanged, with merphitnts preferring to accept whatever business they can jet rather than force the market back by reducing their quotations. Shipping quotations for oats are on the basis of 8s 7d f.0.b., *.i., for A's, 3s 2d for P's, and 3s fpr No. 1 feed. These prices are equivalent to 2s Gd and 2s 8d respectively on trucks, country sidings. The chaff market remains quiet, with consignments in etfcesß of the demand. The bulk of theßO liave been taken into store, and buyers are difficult to find. The price for prime quality remains unchanged at £4 10s a ton, sacks extra, ex truck. The equivalent of this price ox store is £5, Medium and poor quality is slower of sale at £3 10b to £4. ex store. Little business is passing in potatoes. The loenl demand is poor, and up to the present there have been ample pfferintra to "lest requirements. Consignments are still arriving from tho surrounding districts. Values are unchanged, but there is no strength in the market. Freshly-picked lines only are en, quired for, and these roalise £5 10s a ton, sacks included, ex trucks. The enquiry for seed wheat continues, and with the spell of fine weather now being experienced farmers aro pushing on with their sowing. The planting of wheat will he completed by the end of the month, and, as previously Btated, the area sown down "will bo greater than usual. EGGS AND POULTRY. The Red Comb Egg and Poultry Company report an improvement in supplies of -P"? 1 !!' try at its last two auction sales. There was a further advance in prices, a good line of yearling White Leghorn hens realising fis a pair. Both sales opened woll and towards the close values had become firmer. Chickens and boilers were in keen demand, hut ducks and turkeys did not meet the same competition. Egg's—ln view of orders being received from Great Britain, with a consequent shipment of larp[e quantities at an early date, the market should bold firm during the flush period. Enquiries are being made to open up trade in our eggs with Canada, and other avenues are spoken of as beins; suitable for tjie export of JJew Zealand eggs. Vaclnne-firadocl, tested, guaranteed fresii eggs; First grade, lid; second o ti per dozen. Average price a pair received for poultry at our auction sales during the week were: Pullets up to 8s 6d, roasting chickens lligjit) up to 7s 6d, roasting chickens (heavy) up to 9s fid, d«cks up to 6s, geese up tq 6s 6d, liens (lisht) up (o Cs, hens (heavy) up tq 7s 9d, turkey hens up to 12s, turkey gobblers up to 21s. —6 MACFARLANE AND COMPANY'S REPORT. Macfarlane and 00. reported prices of eggs yesterday as follows:—First grade, 0d to lOd per dozen; second grade, BJd to 8d per dozen,

VALUES ON STOCK EXCHANGE. CHRISTCHDKCH RATES, 9TH SEPTEMBER.

t I f„T;rT m d Send P^ o rit. of B P*r cent, p.a.; b, interim 4M4»4 *t rate of 6jer cent 'per aunumlo, interim divided at rate of .8 per rent dividend at rate of 9 per cent, per annum; B, interim dividend at rate of 10 per_c*nt. pw anrnini; f, interim dividend at rate of 12 per cent, per annum; g, interim dmdend at rate of 4 per cent, per annum. > • Where »io approximate 'market i» given, return i« worked on mid-market pncf, unless only one quote 18 given. -

STOCKS SLUMP IN NEW YORK. ACTIVE MARKET SESSION. (UNITED PBr.SS ASSOCIATION —BT JSLXCTJRIC TjS^fOIIAPH—COPIJUQHT.) NEW YORK, September 8. Influenced by an extreme break of about live dollar? a bale in cotton, gtocjis slumped on the New York market to-day in one of the most active sessions in the past two year?. The net losses were from one dollar to three dollars in the leading issues.

GENERAL MERCHANDISE. (JHOCJSRIES. Business in the wholesale grocery trade continues to improve- The advent of more settled weather has assisted cash sales, due to the larger number of people whp are now out shopping daily. sgl»' There lias been a. very serious decline in the fresh egg market. Supplies »re pouring in, and the market this week was gw&mped. Prices in country towns are down tp about 74 to 8d a dozen, Eggs in Wellington yesterday were selling wholesale at 114 dp?., but this figure is expected to drop sharply at an? moment. gome preservers are operating freely", and are getting full supplies. # Seduction?. A new price list has been issued for 'one pack of sheep tongues, showing a reduction in prices. A well known line pf sandsoap stocked by most growers has been reduced in price as from September Ist. BranBran and pollard were offered this week ati £5 10b a ton f-0.b., Sydney- At this level no local business is forthcoming for the Australian shippers. Drtefl Fruits. The OqmmonweaHh Dried Fruits Export Control Board advise? that during the fortnifr':t ending August ?sth 704 tpns of Austrian dried fruits were sold in London, the total value being £37,620. This averaged to £64 10b 8d a ton for sultanas, and #45 14b for currants, .... Messages received this week advise Jower prices for prompt dispatch for seedless raisins. The drop Is fully Sd per lb, and is due to the anxiety of the holders to clear stocks before the new crop pomes on to the Oftlifprnian market at cheaper rate* than have been ruling during the past few month?; Quotations have iust been received from Ban Francisco for new crop Oalifornian figs, due to arrive here about the end of October. As is well known in the trade, the Oalifornian fig is nothing like the,. Turkish sp far »» flavour goes, and accordingly the latter is usually preferred, / rlce « low. in fact, lower than expected, and tor a few early figs (Turkish pannet arrive before the end of November) this quotation offers opportunities to poeers. Tea. At the tea sales last week of Indian teas, held at Calcutta, » total entry of 84,200 chests were entered, some 9000 of being fanpings.- Assam quality MR Started to show a falling off, and this was noticeable at this auction. With th»s_ the Assam entry ran very much on the lines of the previous auction' The sale opened with buyers bidding keenly for commons and low mediums of all kinds, Broken Pekoes were easier, and not so Heenly s°ught after- Black W Hy rP *«e discriminating than usual, »nd tlilj sqine of these Imes to drop 9 pies, whilst stalky were 6 to 9 pies lower. Peko§s were irregular,tt ut . price alteration from Average prices for tbl! Sf'® ran.—-Broken Orange pekoe, ePTOWfIP. 4 MSfl ®. medium, - 5 *»»» « »|W? 40 X S annas; Orange Pekop, cpmwen, 4 »nna» | pies, medium, i snnas fi p«i, •p Bie»i #, WBW v pIM? W 4}um, 8 »nn»« ® pies, <9b4 np Jo 1 B ®".. The weekly auatipn «f °fJfV Jfll eataweek held »n Colombp produeed a let« eaw ZJe of 1,800,0001b. r Buw» chasing mediums and co»in9»"' Pf,®®* »]*»uce4"o; these pe« lb, AH piher Wei r»re sold on the baVs oJ the pmipu* an?tiop prises, e*ee P t 8.0.?., which were O^k,. appointing. Meet 4i« tr i4* S'ttlw of the or l««s damaged crpp, ?nd J» »>««. "J/J" much smaller are# erei^> m JJJ comparad with last jm. Wfet, "r pqrdinft to the report, W«»t JP»»W .f.f Stance for all jute eoe«», TOe w|l{ s|«t wpplpaoks an 4 (rem Caltutta says cornseeks have been Meratins covering oftHWcU * oil*?ble opportunity was offering. Onions. The stocks of onjons IPcaUy w ® t, be small, with demand food. On W day the Niagara landefl in Auskl»n4» WW of 1640 bagu of new Canadian of which are for the 'espl nnions ia a fttiyly .Hn® due at Auqklanl per the ptnan»er Melbourne ■Maru. due September 15th, and this arrival should assist tna petition, B>W«»pore Jlwltets. ' The steamer Narbada arrived Bt AuckW<» wtih a full Wpo of 4uce. She is <Jue luts next weekjn ton to discharge, apd out of tfeto who purchased s»ge, pines, arrive September win receive de)i?ery. . The onfjr slterntien in ■S'WPF• a r w Z a; a&ft m AIWk. njrtM.,««. »« ;;X legal merehaßts will again _ue interesting ihemselves In these lines for December WJ patch, which will he the nejet boat fpr w"; telton from the Bant. Salmon.. New season'; prices for sslmon, _ which have.just come out, disclose a very high ket for spekeyee, After duty has been Mde® and also exchange (the price* are c.i.f, enly/. this line will land »t • "prohibitive figure, ft is easy to foresee that very little f» e W' salmon will be coming to New Ze#l#nd th(| season. Oohoes stand pa a better bapiß, anft a,|ong with pinks are about on » P»r JV", last year's value?. The bulk of the local Bftlmon trade will follow these last two lines, with perhaps a fair importation 9" Hed 4'®skas, the papjk of whiph tbn seajpn is reported as being very heavy, Chum salmon is very low, but s» l* the grade. This line is re»l!y too poor for the local trade.'lts chief destination is usually the P»oific Islands, where it ii in great dem«nd amnngpt the black population, who #re not particular as to quality if prlees. are cheap. pinks wjll make a very good line for general grocery trade. Coljoes are 17s 9d a case (four 4o*en I's) dearer than pinks, with sockeys 25s 9d a case dearer than eohoe. TJiis will give gome idea as to relative values, and also the prohibitive price ol the sockeye grades. Spread flelivery San be had up tp February nest, with buyers protected against fallSj l i' any, up to date of steamer's departure. Palmes packers have besn trying to arrange that only talis wjll be packed in future, thus eliminating the l'a flat tins. It was reported that if an agrpenieijt could be sifned, this arrangement wqul4 operate this season. However, it looks as if the prePPPed arrangements haye fallen through, as at least ono eanner has cabled quotations for l'g flat ting as well as l'a tails. The fists are 2» <54 p dearer than talis in the quotation ahove referred to. Wtllp. A very fine Ijne of I's condensed millf IS now csmiey inte Jfew Zealand from Wi«», ltpglan4. *t can be retailed here at about lid Per tin below the New Zealand packed article. The duty on the English milk, plus oxqliange and freight, must run up to fully 50 per cent., jso t|(e f.e.b, price must be io th» neighbourhood of 4i * deieu.

has passed -tli"ffl'S&«El cult tpadina Tea* **?^ j w^BbS trading again falling market, s?iffi**"** - stdered V ei>v BatirfSS!? *ty Wink' '• profits iJti wSraoSife pent tq pay t& «^i*SUKIiW t on of the carry forwutfiStUPfi the dividend, namelyß J? *W«5| binary appreciate %* while HBSLfH ceptionally good, thi wSffUffill servud to meet an flwSjjglffl present position. w "»» l i|4H The accounts show & n.t «" :i*Jra £5564 19s 6d f?V & I Sffl added to the carry fQr*aCT3ffl 9s Sd. awes a total for ii Jhfll your directors recommendi »^2ssi Interim dividend «n . *t!s preference shares, nl- 'O" M ready paid ~, -M|(fc:iH Interini dividend on I * ordinary shares, pi- /! * ready paid ~. , Itta* »M. Further dividend en ™ *'\ preference shares tti^'i 1 Further dividend on .. m *T ordinary shares ... jpi, Carry forward , . JSSBjltfJ Mr C M. Board by rotation, but tffHjHHiw Messrs AVm. Jamenw niUj'lnim offer themselves for re-eledia^i^S' Tf sanctioned hv the fiends will be paid pn r W(y»vlmK ]o,ooo »t f\ 190,000 Ordinary shawl at Less unallotted ordinary », jltHfflHi Lees uncalled capital Calls paid in advanee , i^wßHm Foreign bills payabW __ *i JBHBffl Mortgages on freehold. ''^SrhlHl Less interim diyidend '■''SqHffßlßl Cash paid in advance WMJHlMffiMtl pbipments arrirtn; Hew ImiMinp; I irn P rI IJMMPEBH Salaries' and ; Interim dividend Saline* brought 4wn ' iroufht fawewj }e»t JiW "^IhH - The follpwipg »r* distributions m wtJffi<W|H|| Carried forward,' RENOWN CQlllMfflj After waking depreciation, *WP , '*ttoi J profit of &IU is Oollierieg. The a!n^ t ' I SSBHH to reduce the dew & ffflHaM Uw account to ftw-^l'Mmm The report says ftMMfgSmfflH trade hw *m *^^§§BH The not against £7485 in-' transferred #,«■ cemo tax, aad W'lP|«H reduce the debit fe W - SBIS Coropwy* Mr r. a. .Phwi^lWßiH there wwe aWW The account f« JW* fffimmEHKßß , ]a T re3 on October

PRICE LEVELS. AN INCREASE ESSENTIAL, THE OTTAWA DECLARATION. The September Circular of the Bank of New South Wales deals with the subject of price le.yels an'l economic recovery, and discusses the Ottawa declaration that a world-wide rise in the general lcvola of vrh'-'le.sale prices is in the highest degree advisable. The pronouncement, states tho Circular, emphasises the need t'or international action. It. is now generally recognised that a rise in prices is an essential condition of the restoration of eeonumi'! health. The Ottawa declaration contained an important reference to this point. Among the conditions precedent to the re-c&tablishment of an international monetary standard was rhe following:—"A rise in the general >vel at commodity prices to a height more in keeping with the level of costs, including the burden of debt and other ?j*ed and semi-fixed charges." Thig throws into relief the difficulties created - ; a sudden and drastic fall in whola*alc pricv-s. If it were possible to alter all values as rapidly and easily ae- Alice found her sizo altered in Wonderland, ■ill would be well. Unfortunately tho price and cost structure of the community is n<?t capable of such rapid and proportionate alteration. This fact is now much more widely understood than it was at the beginning of the crisis. Some costs are relatively fixed, while others are adjustable. In Australia we have found our coats on the whole to be much more adjustable than we had imagined, while Great Britain has had the opposite experience Thua under the Premiers' Plan we have been able to bring about a reduction in interest and rents, and under our system of wage fixation the Commonwealth Arbitration Court has reduced money wages under it# jurisdiction by over 25 per cent. In other countries these costs have been much more rigid, and the problem of fixed charges is even more pressing than in Australia. Nevertheless in spite of the adjustments we have made, the burden of fixed charges In Australia is still very great. B*Port and Internal Prices. In the first place, there is a wide and growing disparity between export prices and internal prices. -Taking 1928 a* base, export prices in Australian currency np to June, 1032, had fallen 47 per cent., retail prices only 19 per cent. Tli« problem is even more difficult in Grent Britain. Tho chief reason fox this failure of retail prices to movo with export prices is the greater burden of overhead costs in Totail businesses, and the shelter enjoyed by these businesses from overseas competition. These overb«ad costs include rent, the carrying of stocks, transport, and advertising, involving charges that are not readily adjustable to changed economic conditions. Services and goods that enjoy a natural shelter or a protective tariff ar» not under the direct compulsion to make rapid adjustments even if they •were able. ' ' Farmers' Spending power. J* the ease of exportable goods, however, particularly in • primary producing country, prices are very sensitive to world conditions. Costs, however, are ««t to amenable to change. For example, la tw ease of a wool-grower, or wheatrarmer, the reductions in the relatively charges, such *as interest and transport, have not been nearly SO per *** "» 0 price of some necessary w 5$ a^° ,achiner 7 have fallen w "ttle. Bates and taxes have also mob maintained at their old level, or bave actually increased. This means P° wer h neatly mmM aad that tho quantity of goods y been ablo to purchase has Man much less than before the crisis. there is a serious contraction of ontpot in all other industries, •aaidaghoavy unemployment and throw. ®C a burden upon Government*. It nay ho powible over a long period of fig 1* §•£ «?ste down to conformity w»t» tho fall in price*. But the process bo protraeted, and recovery would fc» long delayed. Indeed, recovery •mm not )s all probability make its apMaranM nntfl a large number of wajMnanaged and even strong busimmm baa succumbed. Internal Debt Charge. Another element of fixed costs is .the Internal debt charge. Through the m4gnileenfc effort on tho part of bondholders the money value of this burden has been reduced by 22} per cent. Despite this, the burden of the debt in relation to national income has been increased. When the national income was SAGBGw, the interest charge on the latorattl debt was a little less than 5 P" «nt of national income. To-day with national income at £A4BOm., and •till filling, the burden is over 6 per in spite, of the reduction in interest. The fall in prices in the period aas reduced the money value of the national income, and therefore the wveaue received by Governments has wntmshed. Though the fixed debt ahaigo has been lowered by the Oonv®rnm Loan, it is now a- greater propor!r®. °' , na tio_n«l income. Any further ombjw la prices will increase tho prope*tloß and make It more difficult to i»«Mßfe budgets, with the continued f«dl m prices and in national income, thus presents the most serious difficulties, Delaying Economic Recovery*. I'inally, tho fall in prices necessary I to Bring costs down to present export places will dampen down enterprise, dslay economic recovery, and reduce" sjwtoariy tto- values of all assets. As J prices fall more than costs, unemployment win remain high and capitaJ cxpenditure low. Existing capital, ; £ J B P' OTWB «*t« on the farms, " 2? SSS'i r * t ®^ laek of work- j wf eapital. The real burden of all be greater, with con- < soqaent discouragement to new Indus* T>lo * B necessarily , Sft. of . aU Randal and J TW?ir«ww loa8 1 frozeD - < TTUa is gleariy an impossible basis for iMfledaratlon at Ottawa that higher i £££l*2.l® M,w *j w condition o* * i?S «*P«n«JOB and of the j jgjjjjj®* of an International monetaiy | P. AND O. STOCK. (camp rasas AseocuTW*-** nuontio * ineeaaAje—oomiosr.) . , h Soptomber 8. J '• O deferred stock is quoted J 1 **bfci-W»4i4r .1. j

MINING. . MAHAKIPAWA GOLDFIELDS. Advice htia been received from the mine manager that the wash-up for tho week produced bdoz alluvial gold. KING SOLOMON DEEP LEAD. U'aijfc ASdoaAtucs TELMIUH. j _ IN VKItC'AUGILL, September 9. TJxo mino manager i>f l\ing holouion D';ep Lead, Ltd., reports a, wash-up i'or tho \\ et.k t>i o'6oz liJdwt. SYDNEY WOOL SALES. ayekauu price oi' cues. (funxo xt-eus association —jar ELicxaio IBLEOHAPa—COPVBIOaT.) SYDNEY, September 9. The average prices for classed clips at the wool sales were:— Greasy merino fleece: Best to good Ibd to 144 d. liight, seedy or burry skirts; Good 13d to I4d, averago lid to 12d: inferior 0d to lOd. Burry: Good lid to Hid, average M to lOd, inferior 71 d to tiid. Broken fleeces and pieces, light burry or seedy: Good 10W to Hid, average 9d to 9id. Lambs, light, seedy, or burry: Best to good 8d to 9d, average 4d to 6d. BRADFORD TOPS MARKET. (UKfTEI; VHiSa -iSSOOIA'I'ION—BI iILICTaiO TELBaXAPH—COPVBIGHX.) LONDON, September 8. ■ ® ra dford tops market there is a fair amount of business. Quotations : d. seventies ... 20 . Sixty-fours ... v>4 Sixties ... ... 03 Fifty-sixes ... ... Fifties ... ... I2i Forty-sixes ... ... jOj Forties 9^ BOOM IN BUYING. TRADE IN AMERICA. NEW YOBK, August ?>O. The great stores of New York, Chicago, and Philadelphia were stamped this "rt eek in a flood of buying of textilo goods. Sharp gains in cottps, coupled with the price advances of other basic textiles, caused the most widespread buying movoment since the depression began. ' This week's buying commitments are so heayy that numerous cotton and woollen mills have been compelled to withdraw quotations on finished goods. I A oue cent rise iu cotton, lifting it to 8i cents per lb for middling, or nearly 3 cents higher than levels, a month ago, 1 brought 'with it a tremendous demand for grey cloth, which is unfinished material for cotton fabrics. " At yesterday's close at 7s per lb, raw silk had shown a rise of 00 per cent, since the low point on June 2nd. 1 Rayon mills thiß week experienced the largest demand on record for yam, prices advancing 5 to 10 cents per lb. Wool gains ranged as high as 2 cents for some tyres, spurred by the. wide buying movement, which took 00,000,000 lbi off the market during the last 10 days. REAL ESTATE. BUSINESS DURING PAST WEEK. The woekly report of the Eeal Estate Institute states that the .financial outlook as recorded in the newspapers is having a most helpful influence on the community, and members of the Institute are enjoying a measure of this partial restoration of confidence. During the past week twelve building permits were issued by the Ohristchurch City Council, as against eight in August; eight were issued by the Waimairi County Council, and six by tho Biccarton' Borough Council, the total capital expenditure being £12,500. ; Three farms, valued'at £7350, were sold, in addition to a small poultry farm and a block of three acres close tq the city. Sales of suburban properties included four building sections and three bungalows, valued at from £BOO to £1360. Two shops and 34 houses were let during the week. There is a shortage of bungalow properties and an unsatisfied demand for houses from 15s to 22s 6d a week. The reports from auctioneers suggest a better tone, and prices have shown a marked improvement. While the volume of business done in the aggregate is still Bmall, the increased enquiry suggests a brighter outlook. However, the sales made are on a relatively lower price basis, and sellers must appreciate the position if they are desirous of doing business. LONDON SHEEPSKIN SALE. (moron mass association—»t , wubctsio TWMORAPSJ—COPTBIQBT.) LONDON, September 8. At th« fthenitkln Mies- 6 505 bales were offered, locladms 1190 from New Zealand. There was » Urge attendance, and animated competition, French buyers being ea* PWially aotlye, Praotically all were sold. Compared with July 7th, merinos and toe erouMed 1 advanced 20 per cent.; mediant end low eresebreds -10 per cent.; Umbt and ho*«eti 80 to 95 per eent Fyne, Gould. Guinness, Ltd., report baring reoelred advice from their Xjondos agents to the effect that the sheepskin aala opened to a good attendance, with keen demand. The Home trade and Continent were operating freely. Compering prioea with the July sale" merinos and halfbreds were Id. te lid oaarer. all others ]d dearer,. fl? Oompany, Limited, hsve ceived jhe following message from their Loffaon office, dated September - At to*day'a ahecpslcin sale there was • fairly good selection. Foil attendance of burera. Competition animated. Continent were principal operators, but Home trad* also, boyiWr Tbere wss a good clearance. As compared with closing rates of last series,-merino .combing 80 pn cegt higher, merino elothing ?0 pw oent. higher, comebsoks, halibreds, toe oroisbreds 80 per cent, higher, medium to low erossbred 10 per eent. higher, hoggets andlambsaboo»B# per oeat.his)ier. A. V. Turnhnll and Co., Ltd., have recei*ed the following report on the London sheepskin. aalea from w. Weddel and Co.. Ltd., :-H?nnta Arenas': wools " ahow an ad- ; vanca of Id to l|d, Australian merino eombing and comeback wool a&d fine crossbred 90 - per <ent. advance, clothing merino and fine crossbred 15 par cent, aaranca, lew crosi* ( bred 8 per eent, to 10 per eent. advanoe, c bogfeta end lambs show an advance of 90 t gf.,y»t. to ia per east. The>« is obmtf sen* .iMh isswß bmm

BANK OF ENGLAND RETURN. (united msss assocutiok—si slictjiio WSLZOBAPH—COPWOHT.) (Received September 9th, 5.5 p.m.) LONDON, September fi. Tha following is the Bank of England return for the week ending .September Bth:. ISSUE DEPARTMENT. £ . - Notes Issued— Govt, de'ot. 11,0i5,1&C Jnciixula- Other .Govt. tion .. 365,122,461 securities 213,963,01f In bunking Other »e«udept. . 48,906,9*25 rities .. 11,210,086 Silver coin 3,811,198 fiduciary issue .. 075,000,000 Gold coin & bullion 133,031,386 Total 414,031,386 Total 414,031,3« BANKING DEPARTMENT. X X Proprieior*' Govt, eecucapital .. 14,503,0C0 . rities .. 09,033,094 The rest .. 3,677,024 Other seenPublic <le- - rities—posits .. 7,618,220 Discount/! Other and mt- . deposits—• _ vances .. 1i!,273,0-7 Bankers' 91,500,(503 Securities' 10,611,288 Other acs. 33,296,980 Notes .. 48,908,9*25 Seven-day GoM and and otlier silver coin 9*26,'289 bills .. 1,390 Total 150,653,223 Total 150,653,2*23 Proportion of reserve to liabilities, 37.G0 per cent.; short-dated loans, g per cent.; three months' bills, 23-3*2 per cent. The fiduciary isaue of. £275,000,000 consists of the following:—Government debt, other Government securities, other securities,, and silver coin.

FOREIGN EXCHANGES.

LONDON MARKiETS. FLOUR FIRM. (nWTIJ> **W 4880CMTO>jr—W BUCTJUO MMOBJWB—<JO»Y*IGHT.) , LONDON, September 8. Flour » firm. Australian ex store 20s to 225. !. Oats are <mi«t. Australian Algerian 17s' to 18i, A OsrtOßß 28s fld to 94s 64. Pe»l—-Bliie are Arm. Tasmania# 880s to 400s. Nov Zetland S4os to 860s. Maples are dull. Tasm»ni»n 89a to 70s, New Zealand 66s to 47*. New Bealan<i bean* 80s to 80s. »■ Bee* iogw I* !V»fed M, Ooto&«t «• M,

FRUIT MARKET. CHRISTCHURCH. All classes of vegetable* are selling steadily on the market. Ruling prices are as follows: . Cauliflowers,' steady demand, beat realising up to 6s 6d per dozen, others lower; cabbages, best realising 7a 2d per dozen; spring cabbage, best 4s 3d per dozen, others lower; lettuce was in steady demand throughout tho week; boat quality hothouse realised as high as 6s 3d per dozen, outside-grown 4* 6d per dozen for first quality, others varying from Is to 3s per dozen; rhubarb supplies increasing and realising 8s to 10s por dozen for best quality; celery, 4s per dozen for best, others lower; potatoes realised from 2s 6d to Ss 6d per sugar bag; onions ure in very strong demand, with supplies extremely short, realising from £27 to £3O per top. for best quality, best quality sugar bags 10s, others 6s to Bs, inferior 2s to ssroot varieties, Od to Is 6d per dozen. A shipment of Niuo kumerus, ex Maui Pouiare, which arrived during the week, realised l£d per lb. Hothouso cucumbers are realising lOd to Is per lb. A slightly larger quantity, of tomatoes is coming forward, and the highest prices realised throughout tho week were 3s Sd and 3s lid per lb for best quality. Others were lower. Pears: Best quality Winter Cole and Winter Nelis were realising 2d to 2Jd per lb, others Id to lid, according to quality The applo market has slightly improved and ruling prices are as follows:—Delicious first grade up to 9s, second grade 7s 6d,' small sizes 6s per case; Lord "Wolseleys, 7s 6d for first grade, others lower; Washington best 6s Cd per case; Sturmers, best 6s per' case. A shipment of isamoau bananas, ex Maui Pomare, arrived during the week and realised 15s per case. A small quantity of oranges than usual arrived by the Wainui, tho coodit.cm being fair to good. Best counts and quality realised up to 17s Cd per case, other lines realising as high as 10s. Lemons sold ?«. hl ? h *", 17s ?. d per oaße - Pinei; counts A,' Jl ■. w«l>««> 20 B 6,1, smaller counts lower. Passions best 12 8 6 d, others lower. Mandarins Ids 6d per ease for best quality. There will bo no shipment from overseas this week. DUNEDIN. ITHB PRESS Special Service.] DUNEDIN, September 0. A busy week has been experienced in thu fruit marts. A shipment of Samoan bananas by tho Maui Pomaro was railed from Lyttelton on Tuesday, and was quickly placed, and tho market is again bare. The prices obtained show an advance of 2s a case on those ruling for previous shipments. A few Fiji bananas are expected next week. The Wainui brought a fairly large consignment of navels, Valcncias, and lemons to a bare market, and the fruit met a Heady demand. Botter prices are now being obtained for sound lines. Lemons are likelv to be in short supply for some time. The Waikouaiti, which arrived on Wednesday from Sydney, brought a shipment of mandarins, pines, passions, lemons, and oranges. The fruit opened out in splendid condition. Tt will be three weeks before further supplies ore available. Seville oranges are in keen demand. New Zealand Poorman oranges are in heavy supply, and sales are slow. Choice dessert pears have a better enquiry. BUTTER AND CHEESE. LONDON MARKET REPORT. IUTJirED I'BtaS ASSOCIATION—B7 ELSO'TMO TiXEQB AFH—COPVBIGET .) LONDON. September 8. Butter is firm and active. Danish—l24s. Choicest salted New Zealand—llos to 112s. Australian —10-is to 106s. Unsalted New Zealand —110s to 112s. Australian—lo6s to 108s. Cheese is firm. New Zealand coloured —o7s to 535. White—63s. Australian cleared. Dalgety and Co., Ltd., have received the following message from Samuel Page and Son, dated London, September Bth:—Butter—Market firm. Danish 122s to 1245, finest .New Zealand 110s to 112s, finest Australian unsalted 104s to 108s, salted 103s to 106s, g.a.q. 100s to 102s. ' * Cheese —Market Arm. Quotations: New Zealand white 63s to 04s, and coloured 57s to 00s; Canadian, spot white 02s to '64s. and coloured 62s to 635; Canadian c.i.f. 68s to 655, Australian coloured Gss. A. S. Paterson and Co., Ltd., are in. receipt of the following message from their principal*, J. and J. Lonsdale *nd Co. (London), Ltd.:— Cheese—Market) firm. White 635, coloured, I 57s to 58s, Canadian dearer, 64s 6d c.i.f. Butter —Market firmer generally on reduced Continental output. Banish 1068 f.0.b., New Zealand Ills to 112s, Australian 104s to 106s, Baltlo duty paid 04s to 965. The National Mortgage and Agency Co. of N.Z., Ltd., have received the following message from their principals, A. J. Mills and Co., Ltd., London:'— Butter—Market is Arm. New Zealand, finest 112s, firsts 110s, unsalted 108s to 112s, Danish 122s to 1245, Australian 104s to 106s. OUeese—Market is firm. White 63s to 645, coloured 57s to 58s, Canadlun white 03s to 04s, Canadian coloured 63s to 64a, c.i.f. 645. JOHNSONVILLE STOCK SALE. At tha Johnsonvilje stock sale, cattle met with a fair demand at prices "slightly, easier than'laat. week's ratos. .... The sheep comprised good quality wethers and ewes with an average penning of hog-' gets. A-keen sale resulted at prices on a par with last week's rates. Prime heavy bullocks sold to £B, "medium to £6 18s, cows and heifers to £6 Bs, medium to £4 18s, runners to £2 ss, baby beef to £3 Bs, prime wethers to 17s Id, others to 15s 6d, prime ewes to 13s, light to 10s lid, hoggets to 15s lOd. GOLD AND SILVER PRICES. (Wma> i'BKSB ASSOCIATION—Jit SUCTKtO TELECUUI'H—COI'SaiGHT.) LONDON, September 8. Gold is tjuoted at £/j 17s Hd a fine ounce. Silver (pence per ounce) is quoted. as follows: — Sept. 7. Sopt. 8. Spot _ 18 9-16 18g Forward ... 1811-16 18*

riisjhf:— This Laat Week. Week. P £ Saturday .. 2,478 1,832 Monday ... 8,823 3,70S Tuesday .. 4,109 2,678 Wednesday .. 7,611 2,139 Thursday .. 7,174 4,174 Friday .. 7,033 5,064 £37,228 £19,675

London (per quarter:— Sept Sept. 6. . 8. s. d. s. d. September ... 26 71 25 11 December ... 26 0 25 3 February ... 26 1 25 4 Liverpool (per cental) — o 9i October ... 5 11 December ••• 5 101 o Hi March ... 5 11 5 9 Spot trade is quietly firm. Australian ex-ship—31s.

FORMER LEVELS COMPARED. A'mt paid per Companies eh'e. Buyers. Sellers. Appro*, market price. Approx. market price a year ago. *•& 8 8 S » 70 « Q S Div. Payable. Return jiricp on, investment »t appro?, market Banks — Adelaide Australasia Comm. of Aust. Comm. of Aust. • (pref.) Gouira. of Sydnoy E., S., and A. .. jSat. of Aus'asia Nat. of Aus'asia (contr.) National of N.Z. New South Wales New Zealand Union s, s 5 JOB JOi J 3k 3 10 5 21 20 1 f> £ 8. 9 8 0 15 7 0 14 12 4 10 11 0 5 12 3 19 27 12 3 8 7 12 d. 0 1 0 6 0 0 6 0 6 4 6 M a. 0 15 O 15 7 2 16 10 4 15 11 15 5 16 4 0 28 2 3 8 7 15 d. 0 2 6 0 0 0 0 0 6 6 O £ «. 9 10 0 15 7 1 15 10 4 15 11 10 5 15 4 O 38 0 2 8 7 14 d. 0 2 0 0 0 0 0 0 0 6 6 £ •- 8 0 0 12 5 14 13 0 3 10 12 5 4 7 3 10 15 3 I 9 10 d. 0 9 0 0 0 0 6 0 0 6 6 i <8 4 19 6 4 54 b8 6 6 7 a8 14$ 1 Nov.-May Oct.-Mch. Oct.-Mch. Feb.-Aug, Jan.-July May-Nov. Nov.-May Nov.-May Jftn.-July Quarterly (F-, M-,A Ppc.-June Jan.-July £ »• 43 8 1 8 6 10 5 13 5 4 8 8 8 16 9 5 4* $ 4 4 4 7 6 8 11 6 ,N.) 5 18 a 3 11 9 Insurance — National New Zealand .. South British .. Standard 7s J. 1 1 0 14 3 3 2 17 3 0 0 0 15 3 4 2 18 0 0 0 0 14 3 3 2 17 3 0 3 0 6 0 0 12 1 17 3 10 3 0 4 0 6 0 94 10 218 m May-Nov. Feb.-Aug. Apl.-Oct. Mch.-Bep. 5 5 3 4 18 0 4 12 9 § 8 8 Loan and AgencyDalgety and Co. 5 Goldsbrough. M. 1 Guarantee Corpn. 8s United Building 1 8 4 1 6 0 6 0 15 0 6 0 3 8 10 1 5 0 6 0 9 o 8 S I 5 0 6 0 15 0 9 0 3 5 15 0 16 0 5 0 15 0 3 1 O 0 7 3J 5 5-34 6 May-Nov. Dec.Jqne Mcb.-Oet. Oct.-Aprjl 4 4-10 1 18 10 6 18 10 6 11 1 Frozen Meat — Gear N.Z. Kefrig. N.Z. Hefrig. (con.) 1 1 10s 1 IS 0 0 4 0 6 0 0 10 u 0 4 1 1 13 6 0 10 11 0 4 0 1 6 0 9 0 2 0 6 8 10 5 5 June-Oct, Feb. Feb. 5 13 i 9 8 3 13 10 0 Gas— Auckland Aijokland (contr.) Chri?tchurch Chiistchurch (con.) I 16s \ 10s 1 1 1 4 0 11 7 0 9 1 2 I 5 0 13 0 6 3 1 3 0 15 1 6 0 12 0 3 0 0 1 3 0 16 1 5 0 13 3 8 8 0 b7 b7 b8 bS July-Feb. July-Feb, Aug.-Feb, Aug.-Feb, 6 9 1 6 0 0 4 16\ 0 5 0 0 Shipping— Ilutjdart - P#rl>er P. and 0. Def. Union (pref.) 1 1 1 1 9 1 0 1 0 0 0 0 1 1 2 1 1 0 0 1 0 1 0 1 0 0 Q 0 5 is S| Sep.-Mch, May-Due. 3 8 11 5 9 1 6 4 0 Coal — Taupiri Wcstport :i 10b 0 11 9 — 0 15 0 13 0 0 1 0 1 s 0 6 5 8J Nov.-May May-Nov. 6 IS 4 7 G 10 Breweries — Carlton Now Zealand • • Staples Timaru Timaru (con.) .. Tooheys Tooths l l l 10s 7/6 16s 1 1 10 1 9 1 6 1 8 0 4 6 6 1 12 1 9 1 10 0 8 0 1 11 1 9 1 7 0 IP 1 9 6 C 6 3 0 1 0 1 8 1 3 0 12 0 6 0 13 0 13 0 6 0 0 0 6 6 8 8 *84 74 74 6 J 8 Oct.-Mch. Jan. July Aug.-Feb. Opt.-April Oet.-April Melt.-Sep. May-Nov. 5 17 6 P 6 8 13 8 5 8 0 fi 10 4 Miscellaneous — Aust. Glass Beath and Co. .. Beuth & Co. (con.) British Tobaccp Burns, Philp Colonial Sugar Dunlop Bubber Electro. Zinc Electro. Zinc (pref.) Henry Jonei Kauri Timher .. N.Z. Drug Co. Mt. Lyell Farm. Fertiliser Whit, and Tomb# "Wilson's Cement 1 1 Is 1 1 20 1 1 1 1 25s 2 1 1 n i 1 18 0 13 6 0 3 6 1 10 0 3 10 41 IS 0 0 14 1 0 17 2 16 8 1 JO 0 a is o 1 1 H 0 14! B 2 17 0 1 13 0 0 4 1 10 45 3 0 14 0 17 1 6 1 11 1 3 1 14 0 9 6 7 8 3 0 0 8 2 0 0 1 10 9 45 0 0 .0 14 6 0 17 4 15 9 1 10 6 0 10 0 3 18 6 1 1 11 0 14 6 1 14 0 1 1 1 3 0 a 1 1 1 7 33 10 0 6 0 4 0 14 0 It) 0 8 2 10 0 15 0 10 2 J5 1 15 0 6 2 6 6 0 6 6 0 0 6 0 3 0 0 0 n 8 8 b8 10 12J 3 8 6* 7* 5 C 8 10 Dec.-Jun« Mch.-Sep. Mch.-8ep. MWJh Nov,-May Nov.-^Iay Apl.-Oct. Mch.-Sep. Mch.-Sep. June-Dec. June-Deo. Sep.-April JuHP-Deo. August Mch.-Oct. Nov.-June 8 15 0 7 3 3 3 18 0 4 17 6 6 11 1 4 3 9 6 4 8 4 1 11 5 2 6 4 11 4 8 17 11 7 0 4 5 17 1

QUOTATIONS. £ «. d. £ '■ dJRZ, Goverjynept Debentures — 4| par cent. Inscribed, 1939 .. .. 94 15 0 — 6i por ceat. Inscribed, 1937 .. 96 2 6 — 6i por cent. Inscribed, 1933 .. .. 90 SO Ml® « Bi por cent. Bonds, J93i! .. .. 00 5 0 — 51 par cent. Inscribed, Sept., 1937 .. B6 15 0 99 0 Q Other Debentures— CUristchurch Drainage, 5J per cent., 1965 . • Central Electrio Power, 5J per cent., 1957 ... "Waimakariri Rivpr Trust, 5$ per cent., 1963 - 300 0 0 99 0 0 99 15 0 Miscellaneous — Broken Hill. Propty. .. Howard Srnith N.Z. F»rwm' Co-op. (4fc p»r cent. Stock, 1940 and 3945) N.Z. Paper Mills North Canty. Co-op. FJoiir •• •• Victoria Nyanza Sugar Woolwortns (N.Z.), prpf. Woolworths (new, fully paid) Ztafandia Soap 0 0 46 0 1 0 0 11 1 8 1 5 0 4 110 7 0 10 9 0 — 0 — 6 — 0 16 8 6 — 0 — 6 0 5 1 MiningBlack water Big Itiver Consolidated .• Golden Sanda Gillespie's Beach Alexander (coptr.) Cornish Point Clol4en Dawn Golden Point King Salomon Mahakipawa .. Mahakipawa (pref.) ,. Paddy's Point Gksrito Waihi •• Wailn Grand Junction Bawang Tin 0 1<5 0 0 0 7 0 1 0 0 preni 0 16 0 0 0 5 0 0 0 1 0. 0 0 0 0 4 0 8 0 17 0 3 0 4 3 0 17 3 7 0 1 01 1 0 9 0 6 01 11 10 0 4 pre nj. 9 — 2 0 0. 3i 0 0 5 2 9J 0 0 10 8 o no 41 0 0 S 6 0 0^ 0 0 5 9 4 0 8 0 1 0 17 3 8 0 4 0 6 0 5 104 YESTERDAY'S SALES. CBRISTCHURCH. Sales on 'Change— Commercial Bank of Australia • ■ • • • • («) Bank of New South Wales Bank of New Zealand (?) Union Bank of Australia South British Insurance ... New Zealand tfofrigerfiting (10s paid) ... («) Tooth's Brewery British Tobacco (cum diy.) C3) Electro. Zinc (ord.) Electro. Zinc (pref., cum Mr.) - Mt. Livell ••• . (?) Wilson's Ccpient Golden 'Point ... ••• Mahakipawa ... Wniln Stockton Coal (prcf.) £ s. d. 0 15 4 O 15 3 0 15 2 28 0 0 2 8 6 7 14 6 ? 17 6 0 4 0 0 4 1 19 0 1 10 9 0 17 4 15 9 12 2 1 1 11 12 0 1 1 11 1 14 O 0 O 9j 0 0 4J 0 16 7 0 17 0 O 17 2 0 12 Reported— Commercial Bank of Austral •;* •••, E., -S., and A. Bank Dalgcty and Co. New Zealand Ouarantce Corporation (late sale, 8th) ... . ••• Now Zealand Refrigerating: (.CI paid) New; Zealand, Refrigerating (10s paid) Mt. T.vpII Colonial Wugor (late sale, 8th) 0 15 C 4 15 0 8 2 6 0 6 0 0 11 1 0 3 11 0 4 1 1 2 3 45 B 0

AUCKLAND. Sales on 'Change— a. $ s. Comm. Bank 0 15 3 of N.Z. (2) 2 8 6 2 8 4 Union Bank 7 14 0 Goldsbrough, Mort 1 6 0 N.Z. Guarantee Corpn. (ord.) 0 6 0 Colonial Sugar 45 0 0 Electro. Zinc. Pref. 1 7 0 N.Z. Befrig. (con.) 0 4 0 Sharlaud and Co. 0 17 0 Waihi (2) 0 10 9 0 17 0 Wftibi Junction .. 0 3 4 W8M4NGTON. Sales Reported— £ 3. d, Five and » liaU per cent. 99 2 (J Stock, September, 1937 Commercial Bank of Aus0 IB 6 tralia (ord.) 0 15 7 Bank of New Zealand ... 2 8 & 2 8 Auckland Gas 1 1 10 New ZoalanfJ Breweries (8) 1 10 0 British Tobacco (ord., cum • _ 0 djy.) I 1* Dnnlop Rubber 0 14 9 Kloctrolytic Zinc . 1 6 0 National Insurance 0 14 9 Consol. GoJdfields 0 0 8 Mt. Lyell 1 1 2 4J 1 2 6 DUNEDIN. Sales on 'Change— £ e. d. N.Z. Befrig. (eont.) (2) 0 4 1 Sales Reported— Comm. B»nk 0 15 6 National Bank of New Zea6 land 2 0 Kildaro 0 1 4 SYDNEY STOCK EXCHANGE. Activity on the Stock Exchange yesterday was unabated. Practically all sections were firm, particularly leading industrials. There was a further good enquiry for Bank scrip. Morning Sales — £ s. d. Commonwealth Bonds — 4 per cent., 1938 100 6 S 4 per cent., 1944 100 5 0 4 per cent., 1950 90 7 6 4 per cent., 1961 100 0 0 Commercial Bank of Sydney 17 5 0 Bank of New South Wajes 31 15 0 Australian Gas A 0 17 0 British Tobacco 1 14 3 Burns, Philp 2 9 oGoldsbrough, Mort 1 9 3 Wjnchcombe, Carson 1 5 0 Closing Sales — Bank of Now South Wales 31 15 0 Commercial Bank of Sydney 17 5 0 Queensland National 5 7 6 Burns, Philp 8 9 0 Mercantile Mutual Insurance 1 0 0 Millaquin Sugar 1 7 0 (New Zealand delivery) 1 7 8 Fajrymead Sugar 1 S 6 Winchcombe, Carson " 1 5 0 Goldpbrough, Mort 1 9 3 Electrolytic Zinc • (pref.) 1 8 9 Australian Gas A <5 19 6 Tooth's Brewery 1 12 9 Tooliey's Brewery 1 7 6 Dunlip, Perdriau 0 15 10* British Tobacco 1 14 S ' Henry Jones 1 14 0 Australian Glass .. 2 4 0 Sulphide Corporation 0 10 9 North Broken Hill .1 14 0 South Broken Hill S 11 0 Taranakl Oil .. 9 a 8'

£ 8. Cofflinoiiwealth Bonds — JO0 6 4 per cent] 1938 s 4 per cent., 1941 100 6 3 4 per cent!, 1044 100 7 6 4 per epntf, 1953 99 0 0 4 per pent., 1957 99 15 f) 4 per c§at., 1959 • « 97 17 6 4 per $e»t., 1901 100 s 0 MELBOURNE \ __— £ a. d. National Bank (£5 paid) 6 7 0 Qoidsbyougji, Mort 1 9 0 British Tobappo (pref.) •, 1 5 9 Dunlop, Perdriau 0 15 11 Gordon ajid Gotch 1 9 9 'herald and Weekly Times" 2 13 6 Kauri Timber 0 13 0 South Broken Hill 2 11 0 North Broken Hill 3'13 0 Mt. Lyell 1 4 0 Taranaki Oil 0 2 5

GOVERNMENT SECURITIES. LONDON, September 8. The rVlIoiviiiz are the latest quotations ol Government securities compared with 1 he prices ruling on September 1st: — Last week. Thi week £ s. d. £ s. d Consols 72 10 0 72 2 C Funding Loar., 4J p.c., 1930-60 108 5 0 108 10 0 War Loan, 5 p.c., 1920-47 103 0 0 102 2 6 Conversion Loan, &h p.c. (ex div.) 98 O 0 97 17 6 Victory Bonds, 4 p.c. (ex div.) 105 10 0 105 10 0 Commonwealth, 5 p.c., 1945-47 102 7 6 100 17 6 Commonwealth, 6 p.e., 1945-47 102 7 6 100 .15 0 Victoria, 3 p.c., 1929-40 77 0 u 76 5 0 Victoria, 3J p.c., 1929-40 83 10 0 82 la 0 Victoria, 5fj p.c., 1930-40 100 2 6 .1.01 0 0 Victoria, 5 p.c., 1932-42 99 15 O 99 2 6 Victoria, 4J p.c,, 1940-60 98 0 O 99 2 6 New South Wales, 4 p.c., 1933 . . 93 15 0 99 Jo 0 New South Wales, 3 p.c.? 1935 . . 94 0 0 94 7 6 New South Wales, 3J p.c., 1930-40 82 0 0 87 17 6 New South Wales, 6J p.c., 1930-40 101 10 0 101 17 6 New South Waleg, 6J p.c., 1930-40 100 0 0 101 12 6 New South Wales, 6 p_.c., 1930-40 100 10 0 Queensland, 6 p.c. Stock, redeemable 1940-60 . . 10.0 5 0 99 5 0 Queensland, 8 p.c., ' 1922-47 77 12 6 78 10 0 Queensland, 0 p.c., 1939-40 99 12 6 101 12 6 New Zealand. 4J p.c., .1945-58 101 16 0 102 12 6 New Zealand, 3 J p.c., 1940 98 2 6 95 15 0 New Zealand, 3 p.c., 1945 86 0 0 85 17 6 New Zealand, 6 p.c., 1986-51 104 7 6 105 ■I 6 South Australia, 3J p.c., 1939 • •. 93 0 0 94 2 6 South Australia, 3 p.c., 1916, or after 68 0 0 69 5 O South Australia, 6£ p.c.. 1930-40 .. 100 10 o 101 0 0 Tasmania, Si' p.e., , . 1030-10 . 90 10. 0,' 91 5 0 Tasmania, 3 p.c., 1910-40 89 0 u 88 0 0 Tasmania, 6i p.c,, 1930-40 100 12 6 :ni T 6 Western Australia, 3} p.c., 1926-36 96 0 0 90 10 0 Western Australia, 3 p.c., 1915-35 95 2 6 95 5 0 Western Australia. 6 p.c., 1930-40 100 \ 0 O 100 i6 0

• (Mima owiciu. wnnnasj (Received September 9th-, 5.5 p.m.) RUGBY, September 8, Par. Sept. 7. Sept. 8. Paris, ir. to & .. 124.21 89i 891-10 New York, dol. to £1 4.866 8.404 8.182 Montreal, dol. to £i 4.866 3.64 8.84J Biu»»el», belgas to £1 35 25.22J 25.174 Geneva, fr. to £1 .. 25.2215 16.001 18.08 Amsterdam, fl. to £1 12.107 8.70J 8.60 Milan, lire to £1 .. 93.43 66J ta> Berlin, reichmariea _ to fl .. ... 20.43 14.70 14.70 Stockholm, kr. to £1 18.159 19.47J 19.50 Copenhagen, kr. to £1 18.159 19.S0 19.80 OalOj kr. to £1 .. 18.159 19.95 19.95 Prague,' kr. to £1 .. 164.25 118 118 Vienna, echga. to XI 84.586 29J 'So , (nom.) (noai.) Hclsingfoiw, marks to & .. ... 193.23 232§ 282i Madrid, pesetas to £1 .. .. 25.2215 43 7-JC 48| Athens, drach to £1 375 562J 562J Lisbon, escudos to £1 .. .. 110 110 110 Bucharest, lei to £1 813.6 "90 590 Belgrade, dinars .. Sj5;2215 225 230 Rio de Janeiro, pence to milreis .. 5.893 5 3-16 5 3-16 _ . (nom.) (nom.) Buenos Aires, pence to dol. .. 47.577 nom. nom. Montis Video,, pence to dol. .. 51 30 so _ . , (nom.) (nom.) B&tavia, guilder .. 12.107 — — Bombay, pence to rupeo .. ..18 18 9-84 18 9-64 SL'ftniflJai, pence to . /, tael .. ♦ 2113-16 <M Hons Song, pence to dol, .. .. 16J ifl| Yokohama, pence to y«n •• .. 34.56 16 8-16 16} •Determined by prico of silver. METALS MARKET. (Received September 9th, 7.6 p.m.) . , . LONDON, September 8. ' Metal price* km u follpwa:— Quotation®:— ' Sept, 7. Sept. 8. _ ■ per ton, ? per ton. Copper— £ B . d. £ a. d. Standard, spot .. 37 15 0 38 1 3 Forwwd .. ... 97 15 0 38 1 304 Electrolytic .. 40 0 0 ' . 40 0 0 , te ; . , 4010 0 4010 ; 0 • «5? eno J' n «l«°trolytic: 6 cents per lb. Wi» bftra u 40 10 « 4010 © Lead— • Sp«* h, 14 17 6 14 1 8 Forward f . ; 1413 « 14 7 6 SpelterSpot w w jo 0 16 « 8 . Forward ». 16 18 8 16 11 3 Tin— Spot w, 157 18 9 157 16 3 Forward .« „ 1® 7 S 159 6 3 Silver— Standard, per at. 18gd Fine, per . oa. 18d 1818-lCd