WHEAT TRADING.

Press, Volume LXIX, Issue 20906, 13 July 1933, Page 11

WHEAT TRADING.

WINNIPEG MARKET. I FUTURES RISE. j (.UNITED J'ltr.«s ASSOCIATION- BT ELBOIiUC TIM.KGRAHI (JOX'YiIIGHT.) WINNIPEG, July 11. Because of the weather report and the United Stales crop report, futures advanced 4i to 4y cents to-day. Futures closed:— Cents a bushel. July 3. July 11. July . . . . 79J 88^ October .. December .. 834 02 May .. .. 872 96 ; POOR CANADIAN CROP. OTTAWA, July 11. The Bureau of Statistics announced 10-day that the Canadian spring wheat crop was 23 per cent, below the average oil June 30. DAMAGE TO CROPS IN SASKATCHEWAN. j REGINA, July 11. Recent rains have failed to improve the grain prospects in the southern and central areas of the Province of Saskatchewan, where the heat and grasshoppers have combined to do heavy damage. The grasshoppers have reached the winged stage. For the whole province conditions are only fair. CHICAGO FUTURES. P.I(; RISE IN QUOTATIONS. NEW YORK, July 11. Chicago futures are quoted:— Cents a bushel. July 10. July 11. Jul v .. .. 100s September .. 10:i§ 107 December .. 105 : i 109J May .. 109:; 1134 New Ytrk (cash) .. 113g 115J CITRUS FRUITS. AUSTRALIA LOOKS FOll MEW MARKETS. The citrus fruit growers of Australia lose between £130,000 and £150,000 annually owing to the New Zealand embargo. A request has therefore been made to the Commonwealth Government to provide financial assistance to ensure the growers against loss while other markets are being sought oversea. A conference was held in Sydney recently with a view to surveying the world position, and investigating trans-1 port and other costs. It was contended that, by co-ordinated effort, between the Commonwealth Government and the industry, the loss sustained by the New Zealand embargo could be compensated by sales in other countries. A discussion took place on the possibility of securing a share of the market in Eastern Canada, which under present trade conditions is not capable of being developed from Australia. Strong representations were made to the shipping representatives and to the Canadian Pacific Railway delegates for reductions in the existing charges. The fact emerged from the discussion that the greatest potential market was the United Kingdom, owing to the Ottawa preference of 3s 6d per cwt to Dominion citrus growers. Already 50,000 cases, representing 75,000 bushels of fruit, it was stated, had been dispatched or were ready for export. A quantity approximating that which formerly went to New Zealand would be dispatched abroad this season. A New Zealand View. The Hon. G. J. Smith, M.L.C., of Christchurch, who arrived in Sydney by the Maunganui on a health trip, expressed the hope that the New Zealand Government's embargo on Australian citrus fruit would soon be lifted. "We have been deprived of your citrus fruit much to our regret," hei said. "The Australian oranges are of I fine quality, and most New Zealand people prefer them to the oranges of California, which we have to be content with just now because of this stupid fight between two British countries over oranges and potatoes. You blocked our potatoes, and we blocked your oranges, and, while we are cutting off our own noses to spite our faces, America is getting the business which has belonged to Australia. I am confident there is a way out, and that your local growers will be soon relieved of their surplus production." TELEGRAM FROM MR COATES. I)r. H. T. J. Thacker has received a reply from the Acting-Prime Minister (the Rt. Hon. J. G. Coates) to the telegram which he sent to Mr Coates on June 29, requesting that the embargo on the importation of fruit from Australia be removed temporarily in so far as it affects citrus frutis. In reply Mr Coates stated that he was advised that at present there was no serious shortage of citrus fruits available in New Zealand. "I may say that negotiations are still taking place with the Commonwealth regarding the whole matter, and you can rest assured that the Government is doing everything possible in the best interests of the Dominion," the letter concluded. EMBARGO OPPOSED. AUCKLAND RETAIL FRUIT TRADERS. (TRUSS ASSOCIATION TEUiO.TVM.) AUCKLAND, July 12. The embargo on the importation of Australian citrus fruits was discussed at a meeting of retail fruit traders, and the acting-secretary of the Auckland Retail Fruit Traders' Association was authorised to send the following telegram to the Acting-Prime Minister, the Rt. Hon. J. G. Coates:— "This meeting views with grave concern the seeming lack of sympathy of the Government in regard to the importation of cheap oranges, mandarins, and pines from their only economic place of production, Australia. We respectfully request your very urgent reconsideration of the matter. Further, 1 am instructed to communicate imrr.ediately with the fruit retailers throughout the country to organise a petition by the consuming public to press upon Parliament the extreme gravity of the situation. I am also instructed to inform you that this week's shipment of island oranges has not reduced local prices to any material extent, and that wholesale prices still range from Is 4d to Is 7d a dozen, and that we cannot possibly retail them at less than 2s a dozen." DAIRY PRODUCE. | The Now ZsaliiDcl Farmer?' Co operative Association of Canterbury, Ltd., lias rei reived tho following cable from its London | principals, Messrs Lovell and Christmas:* — j I 'Present prioes for butter are 765, 77b; exceptional finality 78s. Cheese, coloured 1 fils, white 495. Both markets aro very ; quiet.'*

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS. There was a good volume of diversified business on call yesterday, and prices of several stocks showed a hardening tendency. Transactions, exclusive of vestibule business, were: £IOOO N.Z. Govt, 4 p.c., Inscr., 1955. 200 Comm. Bank of Aust. (cum div.). 52 Comm. Bank of Sydney. 100 E., S., and A. Bank. 10 Nat. Bank of A'asia (£lO paid). 30 Nat. Bank of A'asia (£5 paid). 70 National Bank of N.Z. 5 Bank of New South Wales. 50 Bank of New Zealand. 30 Union Bank of Aust. (cum div.J. 300 National Insurance. 40 Dalgety and Co. 200 N.Z. Guarantee Corporation. 200 N.Z. Refrigerating (£1 paid). !)00 N.Z. Refrigerating (10s paid). 200 Westport Coal (late sale 11th). AOO Christchurch Gas. 150 Christchurch Gas (10s paid). 700 N.Z. Breweries (cum div.). 100 Staples Brewery (late Bale 11th). 300 Timaru Brewery (7s 6d paid). 200 Beath and Co. (Is paid). 400 British Tobacco. 100 Broken Hill Proprietary. 300 Bell Kilgour (3d paidv, 500 Bell Kilgour (9d paid). 100 Blackwater. 200 Central Sholover (9d paid). 1000 Cornish Point. 200 Golden Dawn. 100 Nokomai. New Zealand Government 4 per cent, stock due 1P55 changed hands at £IOO 15s, market closing 5s either way. Commercial Bank of Australia (cum dividend) were firm with dealings at lGs sd, sellers staying in at that price, with buyers at lfls 2d. National Bank of Australasia £5 paid shares were firm with business at £6 6s and further sellers at £6 7s, buyers at £6 4s; the £lO paid issue rose to £l3. Bank of Australasia were firmer on buyers' offers £ll 2s. Commercial Bank of Sydney changed hands at £l6 10s, sellers staying in at that price, buyers at £l6 16s. E., S., and A. moved up to £5 Is (id and more were offered at that figure, buyers at £5 0s (id. National of New Zealand rose to £4 Is, closing quotations £4 buyers, £4 Is sellers. New South Wales moved up to £32 2s Cd, buyers staying in at that figure, sellers at £32 ss. New Zealands were fractionally firmer with buyers and business at 48s Bd, sellers at 495. Union Bank of Australia (cum dividend) recovered to £1), buyers staying in at that price, sellers at £9 2s. National Insurance were fractionally weaker at 10s 7d, closing quotations Id on either side. Buyers of New Zealand Insurance (cum dividend of Is a share) raised their bids to 50s 3d, sellers at 51s. Dalgety and Company advanced to £9 7s 6d and late offers of £9 5s failed to attract sellers. Goldsbrough, Morts hardened to 28s 3d buyers, 28s 9d sellers. New Zealand Guarantee Corporation were firmer with dealings at 6s and 6s Id, and further buyers at the higher price. Buys of New Zealand Loan and Mercantile ordinary stock advanced their offers to £4l. New Zealand Refrigerating shares were firmer with dealings in the fully-paid at 16s and in the partlypaid at 6s 7d, 6s Od, and 6g 9d, markets closing firm. A late sale of Westport Coals on July 11 was reported at 13s 3d, and sellers yesterday offered at that figure, buyers at 12s lOd. Christchurch Gas shares advanced to 27s and more were wanted at 26s lid, with no sellers; 10s paid were firmer with buyers and business at 13s. New Zealand Breweries (cum dividend) advanced to 345, 34s ljd, and 34s 3d, buyers staying in at the highest price, sellers at 34s sd. A late sale of Staples on July 11 was reported at 2Gs 9d and sellers yesterday wanted 275. Tirnaru (7s fid paid* had business at 4s 6d and there were further sellers at that figure, buyers at 4s 3d.

Beath and Co. Is paid shares recovered to ss. Britifeh Tobaccos moved up to 34s 3d and 34s 4id, the market closing 34s buyers, 34a 3d sellers. Broken Hill Proprietary changed hands at 34s 3d and further buyers at 34s Id tailed to attract sellers. Elee* trolytic Zinc ordinary were firmer on buyers' offers 22s 3d. Bell Kilgours 6d paid changed hands at Is Id and the 9d paid at Is 4d. Blackwaters realised 25g 10d and more were wanted at 25s 9d. Central Shotovers were easier with sellers and business at Is Id. Cornish Point were firm at 6d. Golden Dawn, mpved up to 2s, market closing Is lOd buyers, 2s 3d sellers. Nokomais were easier with business at 3s lid, and further sellers at 4s, buyers at 3s Ilia.

UNLISTED STOCKS, All transactions in stocks quoted in this section are subject to double rate of brokerage and are not quoted on the official list. Buyers, Sellers. £ s. d, £ s. d. Aotearoa Gold 0 2 0 0 2 9 Bell Hill . • 0 3 4 0 3 6 j Bell Hooper .. 0 Oil! 0 1 0 Charleston Sluic. 0 18 0 19 Industries, Ltd. (12s 6d paid) .. 0 9 6 Invest. Ex. Trust (B debentures) 513 0 0 86 0 0 Maerewhenua (6d paid) 0 0 4 0 0 5 Mining. House Con. (3d paid) 0 0 5 0 0 6 Snowy River .. 0 2 0 Wetherstones, Ltd. 0 2 5 0 2 9 Sale*. 2000 Bell Hooper <3> 0 10 500 Mining House Concessions (3d paid) 0 0 5J YESTERDAY'S SALES. christchurch. Sales on 'Change* £ s, dCom. Bank of AU3t. (2) 016 5 Com. Bank of Sydney (8) JO 18 0 Natl. Bank of Australasia (£5 paid) .. .. 6 6 0 National Bank of New Zealand (cum div.) .. 4 10 Bank of New South Wales 32 2 6 Bank of New Zealand .. 2 8 8 Union Bank of Australia (cum div.) .. 9 0 0 Dalgety and Co. .. 9 7 8 N.Z. Guarantee Corp. .. 0 8 0 0 6 1 Now Zealand Refrig. (10s paid) .. .. 0 6 7 0 6 8 (4) 0 6 8 New Zealand Breweries (cum div.) (2) 1 14 0 1 14 3 British Tobacco (2) 1 14 3 Broken Hill Propy. .. 1 H 3 Bell Kilgour (6d paid) .. OXI Bell Kilgour (9d paid) .. 0 14 Blackwater .. .. 1 5 JO Central Shotover (0d paid) 0 11 Cornish Point .. (2) 0 0 6 Golden Dawn .. .. 0 2 0 Noltomai .. 0 3 11 Christchurch Gas (4) 17 0 Christchurch Gas (10s pd.) 013 0 j Sales Reported. E., S., and A. Bank . ■ 5 16 Natl. Bank of New Zealand 4 10 National Insurance .. 0 167 New Zealand Refrigerating (£1 paid) .. (2) 016 0 New Zealand Breweries .. 1 14 li Staples Brewery (late sale July 11) .. .16 9 Timaru Brewery (7s fld paid) .. . ■ 0 4 6 Beath and Co. (Is paid) (2) 0 5 0 British Tobacco .. 1 14 4i Westport Coal (late sale July 11) .. .. 013 3 N.Z. Govt., 4 per cent., Insc., 1955 .. .. 100 15 0 Natl. Bank of Australasia (£lO paid) .. 13 0 0 DLNEDIN. Sales on 'Chuiffe. £ s. d. Alexander Mines .. 110 Waitahu (2) 0 610 Bell-Kilgour (9d paid) (2) C 1 4J 4 per cent, stock, 1955 .. 100 5 0 Sales Reported. Freshford .. .. 0 0 10 Bank of N.Z. .. 2 8 6 Donaghys' Rope .. 2 0 0 Milburn Lime 1 12 0 Bell-Kilgour (fld paid) (5) 0 1 41 Union Bank (ex div,) .. 817 6 Gillespie's Beach (2) 0 1 HI N.Z. Breweries (cum div.) 114 3 Standard Insurance .. 2 13 6 Guarantee Corporation 0 6 0 Wright, Stephenson (pref.) 014 0 Colonial Sugar ... 37 0 0

Unlisted Staekg. Bell-Hooper .. 0 10

C. E. Jones, Ltd., report h»vinff boW .* successful sale <if furniture Ml 4 effectl i# their sale room yeeterd*?- Th«r« w#fi a record attendance, »n4 nmonf the •rueles enld the following wlee» vera milled:— Ohoiterfleld »nd 4 oH»i" #95 1Q», hedrSOW mute £lB, o®rpet £l9 10a, o»rpet J?l3, e»rpet £l2, carpet £B. sarnet £3, csrpet *7 10*, cfirpot #4 10b, ovpet #a 2* 6d, runner «15 7s Sd, rug £2 15». 6 nrt *4 ISb. 2 jrow #5 ia«, itooTor £lO, difljntf-room Battel £*Z Si 6d, tTro d"chos8«l JBS, B.P. te»pet *B, clock £5 9«. Ump £3 3s 64, fc»U se»t 9» 10a, table £8 J8» 64. 4««k «4 <*»>/ ** IS* 64, wardrobe £a J0«, ijutheiw £4. 4u«bctee <3 15s, (Jiieheinoi £2 16s »nd £3 7» 04. S S#t IjodstexJ* «7 2», be4stf*4. £fl 17* 64, bed«tej>4 cojnpUte £3 1?? 84. linoleum Verb £2 ss, wood bo* 11 7s Od, co»J bo* *l. couch £2 7s 6d. wardrobe £3 17« 04, br»»s lamp £1 15s. felt £2 15s, dinip* table #4 ss, mahogany sette £4 15s, 8 cbtiTS £B, bedstead £1 10*, Eleetrolu* £4 ss. A GENERAL SALE.

M. 0. Smith, The City Market, reports the follow!"? aales prWatel? and »t anctlon laat FridnT.-—Bar t*u. 45, l»r »»( *5 16a, cHe«. geld, £8 10e, ch«», {tald. £B, b*7 m»re> £3 10*. set barnes* £9 6a, block »n4 tacWa 80s, trailer £♦, hand ehaffcutteir 21 7» 64, lawnmower £1 7a 6d. 4oor Us, bpllar 13s, d.b, jnn £1 30b, tank *8 10a, (frlndatoue £1 18*, *a«h 1»«, 4 wheelbarrows £5, collar and hamea £1 10*, gate 15a, ladder 13a, boilar fl, barrel 10» od, wedsea 10s maul 10*. troueh XI 15», J»r»# cover £1 j2» 64, 4o- IS*. tank #3 10», hose £1 7s Gd, pr. wheal* <1 10s, garden plough tZ 17« 6«> •coles £1 7a 64, s*r4en roller £3, pi* £5 10*, coke heater #2 2«, cellar *1 sa, winkers 3 ss. collar *1 IS*, 8 gate; £2 sa, door £1 3s fld, barrow 11 6a, priwu* 10a, bicyele £3, act tuba £l 16a, bicycle £8 17* M. tuba jex 15#, tank £3 7* 64, a «eta tuba #0 M>«. wardrobe £2 19s fld, lino, 41 4b, eouch 17s 64, pv«h chair l\ 15a, mattreaa 18a, table 14*, push chair £1 10*. 4e. 17s M, earp»t aqnare 2a 64, do. £2 15a, *uite £3 12b 64, chest £1 sa, wardrobe £1 12s 64, lino, £1 sa, carpet aweeper XI ss, wardrobe £3, aldebo&rd £2 15g, 4". £2 10«, 8piece tulle £7 s*. carpet aquare £4. do. i'B, lino, £8 18a, carpet runner £2 10a, 2 oouohe* £5 6«, 4 eha'rji it, aewln* machine £9, aideboar4 ffi 13a, seagraia chair £1 2a 04, 3 ehaira il Ifla, 1 do. I®* ®d, 1 testis, mattreaa £1 sa. 4«. 1T« 64, carpet sqi*are £4 15s, runner £3 ss, puah chair tl 13s 64, aecretalrq £1 16*, aijeboard £3 B*. stretcher 18s Bd, 4«°he»*« £9 6s, wardrobe £5 5«, coueh £2 18*, portable gramophone £3 15a, bad and wire £2 18a (Id. 2 d. oheata £3 10a, 8 alngle bed* and wire* £5 fa, maUras* 18», «8 lacks wheat 9s 64 to 19a 64. P7 aaeka «t* *a 94 to 9* 6d, •atfb«>( chaff 2s 6d to 8a 34, «tr»w la b»! f , timber £Bl 9s, iron £4O 50a 24. Poiiltrv: liens 8» tp fl«, cockerel* 5* 84 to 12a. roosters 4« Bd to S* 04, pullets 4* to Pa 3d, geea* 5$ 6d to 6s, daclta 4a 6d to 5a

Unlisted Stocks. Bell Hoopers were a shade strong er at Is. Mining House Concessions 3d paid hud business at 5Jd. LATEST QUOTATIONS. N.Z, Government Deltcniurrs Buyers. Sellers. £ 5. d. £ s. d. 3 J p.c. Ins., l!)38-4;; 100 0 0 — 4 p.c. Ins., 1940 .. 100 10 0 — 4 p.c. Ins., 1949 .. 100 12 6 101 0 0 4 p.c. Ins,, 1955 .. 100 10 0 101 0 0 4 p.c. Bonds, 1940 101 2 6 —. 4 p.c. Bonds, 1946 101 0 0 — 4 p.c. Bonds, 1949 101 0 0 — 4 p.c. Bonds, 1955 101 0 0 — Other Debentures. Springs-El lftmnere, 0 51 p.c., 1958 .. — 101 10 N.Z. Refrig., o- 1 . 0 p.c., 1935 101 0 Gisborne Sheepfarmers, 61 p.c., 0 1941 77 10 0 90 0 Hanks. Adelaide 5 12 0 — 0 Australasia 11 2 0 11 4 Com. of Aust. (cum div.) 0 16 2 0 16 5 Coin, of Au.st. (pref. 0 cum div.) 8 17 0 9 1 Comm. of Sydney 16 10 0 16 18 0 E., S.. and A. 5 0 6 5 1 6 Natl, of A'asia (£10 0 paid) 12 15 0 13 0 Natl, of A'asia (£5 0 paid) 6 4 0 6 7 Natl, of N.Z. (cum 1 0 div.) 4 0 0 4 New South Wales 32 2 6 32 5 0 New Zealqnd 0 9 8 2 9 0 New Zealand ("D" Mort. shares) .. 1 10 3 — Union of Aust. 0 (cum div.) 9 0 0 9 2 Insurance. National 0 16 6 0 16 8 New Zealand (cum div.) 2 10 3 o 11 0 Standard 2 12 0 — Loan and Ag ency. Palgcty and Co. .. 9 5 0 — Goldsbrough, Mort 1 8 3 1 8 9 Natl. Mort. "A" 2 5 6 2 6 0 Natl. Mort. "B" 1 3 0 1 10 0 N.Z. Guarantee Corporation 0 6 1 0 6 6 N.Z. Loan and Merc. (ord. stk) 41 0 0 50 0 0 United Bldg. Soc, 0 17 0 0 17 3 Shipping. P. and 0. Def. Stk. 1 4 0 1 4 9 Frozen Meat. Canterbury (pref.) 5 2 6 — Gear 1 13 0 — N.Z. Refrig. (£1 paid) 0 15 10 0 16 0 N.Z. Refrig. (10s paid) 0 6 8 0 G 9 North Cant. Freezing 0 5 0 —

Woollens. Buyers. Sellers. £ p. d. £ s. d. Kaiapoi (pre!!.) 0 12 0 0 16 0 Coal. Wcstport 0 12 10 0 13 3 Gas. Auckland (cum divJ 1 3 0 ■— Christchurch 1 6 11 — Christchurch (10s 2 paid) 0 13 0 0 13 Breweries. Carlton 1 10 9 1 19 0 Staples 1 6 0 1 7 0 Timarn .— 0 7 6 Timaru (7s Cd pd) 0 4 3 0 4 6 Tooheys 1 2 6 1 4 0 Tooths 1 18 a 1 19 0 Miscellaneous. Aust. ~*aper and 12 Puip 1 11 0 1 6 AmaJy'. Wireless 1 12 0 — Arnalg. Wireless (con.) 1 2 0 1 3 0 Australian Glass 2 7 0 2 7 9 Benth and Co. 1 6 1 1 3 0 Beath and Co. 0 (Is paid) 0 4 9 5 0 British Tobacco .. 1 14 0 1 14 3 Broken Hill Prop. 1 14 1 — 9 Burns, Philp — 2 11 Colonial Sugar .. 50 1!5 0 57 0 0 D.I.C. (10s pd.) .. 0 11 6 — D.I.C. (pref.) 1 0 6 — Dominion Fertiliser 0 13 0 0 14 0 Donaghy's Rope 1 19 6 — Dunlop Rubber .. 0 18 1 0 18 4 Electro. Zinc (ord.) 1 2 3 1 2 9 Electro. Zinc (pref.) 1 11 9 1 12 0 Henry Jones Co-op. 1 17 0 1 17 8 Kauri Timber 0 13 0 0 15 0 New Colosseum .. — 2 2 6 Milburn Lime 1 10 0 1 13 0 Mount Lyejl 1 2 0 1 2 1 N.Z, Drug Co. .. 3 4 9 — N.Z. Farmers' Coop., 4£ p.c. slock, 0 67 0 1940 62 0 0 Whitcombe and « Tombs 3 2 — Wilson's Cement 1 13 3 1 14 3 Woolworths (N.Z.), 1 19 0 pref. 1 16 0 Woolworths (Sydney), pi ef. £1 pd. new 1 4 6 1 5 0 Woolworths (Vic6 toria), pref. 1 4 G 1 5 Mining. Alexander (lUs> Gd paid) 0 J 19 0 1 1 0 Bell Kilgour (9d paid) 0 1 4 0 1 4i Big Pivcr 0 1 0 1 4£ Blackwater 1 5 9 i 0 0 Central Shotover 0 0 Hi 0 1 1 Cornish Point .. 0 0 5i 0 0 61 Cornish Point (pref,) 0 0 7 0 1 0 Freshford 0 0 10 0 o n Gillespie's Beach (9d paid* 0 1 0 0 I 7 Golconda (6d pd) 0 0 7 0 i 5 Golden Dawn .. 0 1 10 0 2 3 Golden Point 0 0 It 0 0 2J Golden Sands 'cum div.) 0 2 11 0 3 2 Kildare 0 2 1 0 2 4 King Solomon .. 0 1 9 0 2 0 Lawson's Flat (Is paid) 0 1 2 0 1 3 Mahakipawa 0 0 2 0 0 3 Mahakipawa (pref.) 0 0 n 0 0 44 Nokomai 0 3 1U 0 4 0 Okarito 0 10 9 0 11 0 Waihi 1 2 3 — Waihi Junction 0 3 0 3 8 Waitahu (4s 6d paid) 0 6 0 0 7 0

AUCKLAND. gales ett 'Change. £ s. d. Stock, 4 per cent., 1946 100 10 0 Com, Bank of Aust. (2) 0 10 4 National Bank of N.Z. 4 0 0 Bank of New Zealand 2 8 6 Union Bank 8 18 0 National Insurance 0 16 8 South British 3 7 9 3 7 6 Goldsbrough, Mort 1 8 16 0 Taupirl Coal 0 6 Auckland Gas 1 3 4 New Zealand Breweries .. 1 13 6 Colonial Sugar 57 0 0 Consolidated Brick 0 4 3 Donaghy's Rope 2 0 0 N.Z. Farmers' Fertiliser 0 18 7 0 16 9 New Zealand Newspapers 1 6 0 Robinson lee 0 14 C Wilson's Cement 1 13 3 Bell KilKour (6d paid) .. 0 1 1 Golden Dawn 0 2 2 Waihi 1 2 4 Waihi Junction .. 0 3 5 Unlisted Stocks. Bell Hooper 0 0 11 0 0 Hi National Tobacco .. 3 0 0 Snowy River 0 3 3} WELLINGTON. Sales en 'Change. £ s. d. Insc. stk. 3i p.c., 1839-43 99 17 6 Insc. stk. 3i p.c. 1933-32 ., 99 15 0 Insc. stk. 4 p.c., 1948 100 15 0 Nat. Bank of N.Z. (cum div.) 4 0 0 Union Bank (cum div.) .. 8 18 6 Kauri Timber 0 13 0 N.Z. Breweries 1 14 2 1 14 3 Electro, Zinc (pref.) 1 12 0 N.Z. Paper Mills 1 6 0 SYDNEY, On the Sydney Stock Exchange yesterday, the market retained its firm tone, with slight price fluctuations here and there. Morning Sales. £ s. d. Commonwealth 4 p.c. bonds — 1838 102 15 0 1941 103 13 9 1944 104 10 0 1947 104 17 6 1950 105 17 9 1955 104 12 6 1959 105 11 3 1961 105 10 0 British Tobacco 1 14 7i Henry Jones 1 18 6 Wilcox Mofflin 0 7 9 Afternoon Sales. Bank of New South Wales 32 0 0 Colonial Sugar 57 15 0 Associated Newspapers 0 8 S Asst. Newspapers (pref.) .. 0 18 4J Australian Gas, A 7 4 6 British Tobacco 1 14 6 DunJop Perdriau 0 18 6 Dunlop Perdriau (pref.) .. 1 13 9 Goldsbrough, Mort. 1 8 9 Berlei 1 6 9 Commonwealth Wool 0 10 6 Henry Jones 1 18 8 Standard Cement 0 14 10 MUlaquin Sugar 1 7 3 Morris, Hedstrom 0 17 0 Wlnclicombe, Carson 1 7 3 United Provisions 0 8 9 Tooth's Breweries I 19 0 Toqhey'a Breweries 1 3 10i Broken Hill Prop 1 14 104

MELBOURNE. £ s. d. Commercial Bank o{ Aus* tralia (pret) 0 2 0 National Bank (£5 paid) 8 7 0 Goldsbrough, Mort. ,. 18 9 Metropolitan Gas .. 12 18 0 British Tobacco .. •. 1 14 74 Electrolytic Zinc .. 12 9 North Broken Hill •• 4 6 fi South Broken Hill 2 17 3 Mount JUyell • • 12 3 WAR LOAN STOCK, omeuf, RUGBY, July 11. British 3J per cent. War Loan Stock is quoted as follows;— July 10 .. •- 9$ 5 0 July 7 .. .. 98 5 <> July 6 .. t>8 11 3 July 4 .. 9? U fi July 3 .. .. 98 17 6 June 20 .. .. 98 13 9 June 27 • • .. 98 18 9 MERCANTILE stocks. (OHITHD PMSS *RS0CUTJON— IT ULICTBIO TBLzaaiTH-^-cppittiair.) LONDON, July 11. Mercantile Stocks are quoted:— £ s., d. Dalfiety and Co., shares - • 8 2 0 Dalgety and Co-, 4 per cent. debentures .. 88 10 0 Goldsbrough, Mort, 5 per cent. B debentures .. 83 10 0 CLEARING SALE.

FOREIGN EXCHANGES. (BRITISH OFFICIAL WinCLlzS) RUGBY, July 31. r»r. Julj 10. July 11. Tui'is, Sr. t« £1 124.21 84 J, 84 1316 New York, 4.79J 4.73i dol. to £1 -4.866 Montreal, dol. 4.99* 4.06i to £1 4.880 Brussels, 23.82J belgas to £1 35 23.82} Geneva, fr. to 17.131 £1 25.2215 17.12J Amsterdam, fl. 8.23 «.22l' to £1 12.107 Milan, lire to 62 17-33 £1 8.54 62 9-16 Berlin, reicli13.901 msrken to £1 20.43 13.90} Stockholm, 191 V>! kr. to £t 16.159 Copenhagen, 22.40 22.40 kr, to £i 18.159 Oslo, kr, to 19.90 £1. 18.159 19.90 Vienna, schjs. 80 (nouj.) to £1 84.535 30 (nom.) Prague, kr. 111J to £1 164.25 112 HeUlnirfortt, 226J marks to £1 193.28 226J Madrid, pese39 11-li tas to £1 26.2215 39J Lisbon, et>cudoe to £1 110 110 110 Athen«, drach to £1 375 590 590 Bucharest, lei to £1 8J8.6 565 565 Belgrade, dinars 25.2215 250 250 Rio de Janeiro, pence to 1 (official) milrcis 4.892 4 (nom.) Buenos Aires, pence to doi. 45.577 42 42 (official) (official) Monterideo, pence to dol. 51 ?,i (nom.) 34 (now.) Bombay, pence 18 1 11 to rupee 19 18 1-1G Shanghai, pence 14 15-19 to dol. * 15 Hong Kong, penes to dol. * 3 62 10i Yokohama, penc» to yea 24.58 14; 14* Warsaw, par zlotrg to £1 43.30 — Batavia, guilder 12.107 — 8.25 'Potenaineil by pricj of jilvcr. In order to help the wool industry in Australia, railway freights have been reduced by 20 per cent. The Commonwealth has reduced the ! land tax by one-third, involving a remission of £800,000 or £700,000, and allowing relief from payment where, by reason of low prices, the taxpayer cannot pay his tax out of current income. Pro-perty-tax exemptions have made, remitting £500,000 a also been year, and iled from exemptions have been era] -sales tax, and primage amounting to £8000,000 a year.