CHRISTCHURCH STOCK EXCHANGE

Press, Volume LXIX, Issue 20977, 4 October 1933, Page 11

CHRISTCHURCH STOCK EXCHANGE

YESTERDAY'S TRANSACTIONS There was a moderate turnover on call yesterday, -with the bulk of the dealings in shares in the banking, pastoral, and breweries, and gold mining sections. .- Price levels on the whole were well maintained. Transactions, exclusive o£ vestibule business, were; £SOO N.Z.' Government 4 per cent. Insc, 1940. 300 Com. Bank of Aust. 50 E., S., and A. Bank. • 40 Natl. Bank of A'asia (£lO pd.). 70 Bank of N.S.W. 100 Bank of N.Z. 50 New Zealand Insurance. 20 Dalgety and Co. 100 Goldsbrough, Mori. 100 N.Z. Refrig. (£1 paid). 200 N.Z. Refrig (10s paid). 200'Kaiapoj Woollens (17s pd.). 100 Christchurch Gas. 150 N.Z. Breweries (late Mon.). 500 N.Z. Breweries. 100 Tooheys Brewery. 100 Electro. Zinc (orcl.). 100 Electro. Zinc (pf., cum chv.). 200 Mt. Lyell. 250 Alexander Mines (13s Od pd.). 5000 Bell Hooper (9d paid). 750 Gillespie's Beach. 300 Nokomai. 50 Okanto. 100 Waitahu.

New Zealand Government 4 per cent, stock due 1949 advanced to £lOl 12s 6d, and late offers of £lOl 10s failed to attract sellers; the 1949 stocK claimed buyers at £lOl 15s, but sellers were reticent. Commercial Bank of Australia were fractionally weaker with dealings at 16s 9d, buyers staying in at that price, sellers at 16s lid. E., S„ and A Bank shares declined to £5 19s, the-market closing £5 18s 3d buyers, £6 Is 6d sellers. National Bank of Australasia fully, paid were firm, with sellers and dealings at £l3 9s, buyers at £l3 Bs. Bank of New South Wales appeared easier, with dealings at £.>■* 12s 6d and £34 15s, and these were buyers' and sellers' closing quotations respectively. Bank of New Zealand were firmer with business at 46s Jd, and further buyers at 46s 6d, scllei* at 48s. New Zealand Insurance casea to 54s 3d, the market closing at 54s la buyers, 54s 6d sellers. Dalgety and Company moved up to £lO 12s bd and there were further buyers at £lO lis, with no sellers. Goldsbrough Morts were firm with buyers and business at 28s 9d, sellers at 295. New Zealand Refrigerating fully.paid moved up to 19s lid, buyers staying in at that figure, sellers at 20s; thes 10spaid were fractionally weaker with dealings at 9s 8d and 9s 7d, and further sellers at 9s Bd, buyers at 9s Cd. Canterbury Frozen Meat ordinary were firmer on buyers' offers of £lO. Kaiapoi Woollens fully paid ordinary declined to 8s 6d, buyers staying in at that price, sellers at 8s 7d. Christchurch Gas realised 28s. and more were wanted at 27s 9d. A late sale of New Zealand Breweries on Monday was reported at 37s Bd, and dealings to-day were at 37s 7d and 37s 8d There were further buyers at 37s 6d, sellers at 37s Ja. Tooheys were firm, with buyers and harness at 23s 6d. Buyers' offers for GarHons and Tooths revealed firmer Electrolytic Zinc ordinary were pasier with business at 255, and lurthPi sellers at 25s 2d; the preference cum dividend realised 34s 3d and more were offered at that price, buyers at 34s Id. Mount Lyells were Arm, with buyers and dealings at 24s 4d, sellers 3t Alexander Mines partly paid reo P 17s the market closing 16s 6d buyers 17s 2d sellers. Bell Hoopers (9d paid) remained «nStpred at Is. Gillespie's Beach is nafdwere firm at 2s 3d, closing quotaf;™c & i on either side. Nokomais Trt e&«at *« and 2. 6jd. Okariios changed hands at lis and there were further filers at hat figure Waitahus moved up a point to 7. M, market closing Id either way.

YESTERDAY'S SALES CHRISTCHUBCH Sales on 'Change. £ s. d. Com. Bank of Aust. (2) 0 16 9 E„ S„ and A. Bank .. 5 19 0 Nat. Bank of A/asia (£lO paid) (2) 13 9 0 Bank of New Zealand .. 2 6 3 New Zealand Insurance .. 2 14 3 Dalgety and Co. .. 10 12 6 Goldsbrough, Mort .. 1 8 9 N.Z. Refrig. (£1 pd.) .. 0 19 11 N.Z. Refrig. (10s pd.) .. 0 9 8 Kaiapoi Woollens (17s pd.) 0 8 6 New Zealand Breweries (4) 1 17 7 Tooheys Brewery .. 1 3 b Electro. Zinc, (ord.) .. 1 J « Electro. Zinc (pf. cum div. 1 14 3 Mount Lyell /tn (2) " 1 .4 4 Alexander Mines (13s «d naid) (2) •» 17 » pal ' 0 17 7 0 17 1 0 17 0 Bell Hooper (9d paid) (4) 0 10 Gillespie's Beach (2) « * £ Nokomai ,•• » £ fa Okarito •• •• ° " ° Waitahu ,•• " ' X Bank of N.S.W. (2) 34 15 0 Sales Reported. N.Z. Govt. 4i p.c. Insc, 1940 101 12 6 Christchurch Gas ... J » " N.Z. Breweries (late Mon.) 1 1/ g N.Z. Breweries .• £ \' ° Bank of N.S.W. •• 34 12 6

- I SYDNEY r Stock Exchange dealings yesterday, after the holiday, were on an extensive scale, and covered a wide range of securities. Bonds, classified stocks, and breweries made a strong showing, while tin-dredging shares were very • buoyant.

MELBOURNE National Bank (£lO paid) 13 10 0 Com. Bank of Australia .. 0 17 0 Goldsbrough, Mort .. 1 9 3 Electrolytic Zinc .. .. 15 6 Dunlop Perdriau .. .. 013 J REVISED FRENCH QUOTAS (PITTED riIESS ASSOCIATION—B* BUSCTBIO TBLEGE.'LPB—COFtUOBT.) (Received October 3, '7.2 p.m.) PARIS, October 3. Revised manufacturing quotas, subject to readjustment if trade agreements are negotiated, reduce quarterly imports by one-third. The Ministry for Agriculture is authorised to increase the butter, quota by 60 pacent., and others by one-third.

FOREIGN EXCHANGES

HIGH . COMMISSIONER'S REPORT The Department of Agriculture has received the» following cablegram, dated September 30, from the High Commissioner for New Zealand, London: — Tallow—Quiet demand at auction. One thousand one hundred and fortythree casks offered, of which 279 sold. Spot quotations nominally unchanged. Hemp—Manila—Market dull and easier. "K" grade for October-De-cember shipment sold at £l4 15s. Output January 1 to September 18 841,000 bales, against 630,000 for the same period last year. Stocks in the United Kingdom at August 31, 10,070 bales, against 25,132. Stocks in Manila at Seotember 18, 147,000 bales, against 111,500.

Sisal—Market quiet. Closing sellers No 1 for October-December shipment £l7 ss. No. 2, £l6 15s. New Zealand-Market unchanged. Stocks in London, at August 31, 75 tons, against 38 tons same time last I Apples-Steady demand, but prices lower, as a result of heavy arrivals from America. ■ ■■'•■ Eggs—Market slow. English, National pack, 13s to 18s; English, ordinary pack, 12s to 15s 3d; Danish, 10s 3d to 12s 9d; Australian, 10s 3d to lis 6d. . A . •-,■•' Peas— Maples: Market quiet A grade Tasmania for September - October shipment offered at 43s 6d; No. 1 New Zealand for October-November shipment sold at 41s, down to 40s. Blue—Nothing doing with New Zealand. Small sales reported of Tasmanian on spot at 15s to los oa. ST. ALBANS PROPERTY SOLD Ford and Hadfield, Ltd., report haying sold on account of the trustees m the estate of the late Janet Fprgie, a dwelling-house of five rooms, together with quarter-acre of land, at 91 Springfield road, to Mr R. C. Zimmerman. MISCELLANEOUS SALE H C. Smith reports the following sates privately and at auction last Friday:—Ohes. harness mare £3 10s, half-draught mare £lO bay geld. £6 10s, br. mare aged £l3 10s, br. mare £l2, bay geld. £4 10s, Jay geld. £4 15s, Holstcin cow £1 17s 6d, Jersey cow £2 15s, Jersoy heifer £4 15s, Jersey cow £6, riding: saddle £3 10s, bos cart £3, set scales £5, 3 rabbit hutches £2 5s sp. dray £4 15s, 2 windows £1 10s, round tank £1 15s, sot Drummond harrows £9, range £6, set tubs £1 ss, oil engine SA. coil hoso £1 Ss 6d, range £4 10s, counter £3, spring dray £lO, saddle and .breeching: £3 10s, McCormick grass mower £7, tank £'i 10s, Domo separator £2 10s, 2 windows £2, copper £2 15s, bath £1 12s 6d, piece netting £1 10s, Planet hoe £4 ss, copper £l, trap collar £1 2s, set tubs £1 2b 6a, Masc-ey grass . mower £5, piping £5 12s 6d, lawntnower £1 Bs, garden seat 15b, lawnmower £2 12s 6d, bicycle £1 4s, do. S3 ss, do. £4 17s Od, do. £1 15s. do. £1 15s, do. il £2 10s, do. £2 ss, do. £2 2s 6d, timber 'i £66'7s 3d, iron £37 9s 63, 63 sacks wheat ! 10s to 13s 6d, 23 sacks oats 7s to 9s 6d,-, j table potatoes 5s to 7s, carpet £1 15s, mirror £1 ss, cake mixer £2, carpet square , £1 17s 6d, table cover £1 17s 6d, colonial couch £1 2s 6d, carpet square £1 17s 6d, ' bed and wire £1 ss, duchesse . chest £1 15s, carpet square £6 1 10s, 4 small tables £2 4s, 8 chairs £3, ' cheffoniere £1 10s, ex. table £l. 15s, ward- , robe £2 ss, d.' chest £1 ss, lino. £2, bed. [ and wire £1 12s 6d, chair IDs, institute bed , £1 2s 6d, d. chest £3 2s Od. Poultry—There I was the usual big yarding with the follow- [ ing range.of prices:—Roosters 2s Gd to 3s ' sd, hens 3s 9d to 6s Bd, cockerels 5s 6d ■ to 7s, pullets 4s Id to 4s 6d, ducks 4s t« . 4s 6d, hen and chicks 17b, broody hens te> 5s 6d each, cage birds to Cs 6d.

Unlisted Stocks Macrewhenua (9d .paid) were :rteafly with dealings and uirther sellers, at llld, buyers at lid. LATEST QUOTATIONS Buye ■s. Sellei s. £ s. d. £ 3. d. N.Z. Government Debentures. 31 p.c. Insc, 1938-52 100 10 0 —- 34 p.c. Insc, 1939-43 and 1939-52 100 10 0 — 4 p.c. Insc, 1940 .. 101 10 0 — 4 p.c. Insc, 1946 .. 100 12 6 — 4 p.c. Insc, 1949 .. 101 15 0 — 4 p.c. Insc, 1955 .. 100 17 6 — 4 p.c. Bonds, 1940 101 15 0 —, 4 p.c Bonds, 1946 100 17 6 — 4 p.c Bonds, 1949 101 5 0 —. 4 p.c. Bonds, 1955 101 2 6 _ Other Debentures. N.Z. Refrig., 61 p.c, 1935 101 0 0 103 0 0 N.Z. Refrig., 51 p.c, 1935 100 10 0 101 10 0 Booth, Macdonald, 61 p.c, 1937 .. 44 0 0 — Banks. Aus/asia (cum div.) 13 il 0 13 6 6 Com. of Aust. 0 16 9 0 16 11 Com. of Aust. (pf.) 8 12 0 8 15 0 Com. of Sydney 18 4 0 18 3 0 E., S., and A. .. 5 18 3 6 1 6 Natl. of A/asia (£10 paid) 13 8 0 13 9 0 Natl, of A/#sia (£5 paid) 6 13 0 6 14 0 National of N.Z. .. 4 3 0 4 5 6 New South Wales 34 12 6 34 15 0 New Zealand 2 6 C 2 8 0 New Zealand (D Mort. shares) .. 1 12 9 1 13 9 Union of Aust. .. 10 7 0 10 12 0

Insurance. A.P.A. o n 6 -■ National 0 18 0 — New Zealand 2 14 1 2 34 6 South British .. — 3 14 ?.\ Standard 3 0 G 3 2 °i Loan and AgGllC] r. 1 Dalgety and Co. 10 11 0 — Goldsbrough, Mort 1 8 9 1 9 0 National Mort. A 2 11 9 2 16 0 F.Z. Guar. Corp. (cum div.) 0 8 0 0 8 3 N.Z. Loan & Merc. (ord. stock) 62 10 0 70 0 °! N.Z. Loan & Merc. j (pref.) .. 78 0 0 — United Bldg n Soc. j (ex div.) 0 17 3 ~ Shipping. P. and O. Def. .. 1 3 6 — Frozen Meat. Canterbury 10 0 0 10 12 6 Canterbury (pre!) 5 12 6 — Gear — 1 13 7 N.Z. Refrig. (£i paid) 0 19,31 1- 0 0 N.Z. Refrig. (10s paid) 0 9 6 0 9 8 North Cant. Freez. 0 8 6 0 11 6 Woollens. Kaiapoi (17s pd.) 0 8 (5 0 8 7 Kaiapoi (7s paid) 0 0 6 0 2 0 Kaiapoi (pref.) .. 0 15 1 0 16 9 Coal. Westport 0 13 1 ■ 0 14 0 Ga Christchurch 1 7 9 1 8 3 Christchurch (30s paid) 0 13 6 — Breweries. Carlton 1 19 0 2 2 0 New Zealand 1 17 6 1 17 9 Staples ~- 1 7 3 1 8 0 Timaru — 0 11 0 Timaru (7s (3d pd.) 0 5 8 0 6 8 Tooheys 1 3 6 1 4 0 Tooths 2 0 7 2 1 1 Miscellaneous. Aust. Paper & Pulp 1 14 0 Amal. Wireless (con., cum div.) 1 1 7 ._ Beath and Co. , (cum div.) / 1 8 0 1 9 0 Beath and Co. (Is pd.) 0 5 6 0 5 11 British Tobacco 1 1G 3 1 17 0 British Tobacco (pref.) 1 3 0 — Broken Hill Prop. 2 0 4 2 0 9 Burns. Philp 2 U 6 2 12 6

Buyers. Sellers. , £ s. o . Z s. d. Colonial Sugar .. 58 12 6 59 12 6! David Jones, Ltd. 1 9 0 1 13 9 Dominion Fertiliser 0 13 0 — Dunlop Rubber (ex div.) 0 18 0 0 18 2 Electro. Zinc (ord.). 1 5 0 15 2 Electro. Zinc (pref., cum div.) 1 14 1 1 14 3 Gordon and Gotch 1 14 c 1 18 0 Henry Jones Co-op. 1 17 3 1 19 9 Howard Smith .. 0 13 0 —-• Mount Lyell 1 4 4 14 6 N.'Z. Farmers' Co-op. (1st pref.) 1 0 0 — N.Z. Farmers' Co-op. (41 p.c. stock, 1940) eo o 0 — N.Z. Farmers' Co-op. <4i p.c., stock, 1945) 60 10 0 — Taranaki Oil 0 2 1 ■— Vic. Nyanza Sugar 0 12 0 — j Whit, and Tombs ■ (cum div.) 3 4 0 3 9 9 Wilson's Cement .. 1 14 4 1 14 11 ; Woolworths (N.Z.), i pref. 1 15 0 1 16 3 ! Woolworths (Syd.) j new £1 pd. pref. 1 Wunderlich i 1 2 1 1 6 0 15 6 j Mining. j Alexander 0 18 7 113 j Alexander (13s Od paid) 0 16 6 0 17 2 Bell Hooper (9d paid) 0 1 6 0 1 Oh Bell Kilgour .. 0 1 7 0 1 »i Big River 0 1 4 G 1 6 Blackwater 1 14 0 1 17 0 Central Shotover (9d paid) — 0 0 11 Freshford 0 0 6 0 0 7 Gillespie's Beach 0 2 n 0 2 3| Golden Dawn .. 0 2 2 0 3 9 Golden Point 0 0 1 0 0 2 King Solomon (ex div.) 0 3 3 0 3 5 Lawson's Flat .. 0 0 6 0 0 7 Mahakipawa 0 0 1 0 0 2 ! Nokomai 0 2 6J 0 2 8 Okarito 0 10 9 on 0 Paddy's Point .. 0 4 9 0 5 9 Waihi (cum div.) 1 6 5 16 9 Waitahu 0 7 3 0 7 5 Waihi G. Junction 0 4 4 0 4 6 UNLISTED STOCKS All transactions in stocks quoted in this section are subject to double rates of brokerage and are not quoted on the official list: — Buyers . Sellers. £ s. d. £ s. d.

Andersons, Ltd. (pref,) 0 10 0 0 15 0 Brian Bora 0 10 0 1 15 0 Charleston Sluicing 0 2 2 0 2 3 Claude Neon Lts. 1 13 6 — Goldflelds Dredging (9d paid) — 0 0 9 Hatters Flat (Is paid) — 0 10 Invest. Ex. Trust B debs. 80 10 0 90 10 0 Invest. Ex. Trust (pref.) 0 15 0 — Kiwi Dairy •— 0 10 0 Long Trail — 0 19 Maerewhenua (9d paid) 0 0 11 o o m Mining House (3d paid) 0 0 3 0 0 3| Moonlight Nelson Creek (9d pd.) 0 0 11 0 1 0i Skippers, Ltd. (6d paid) 0 0 3 0 0 8 Smith Wylie — 0 16 9 Snowy River 0 0 1 0 0 4 Sun Newspapers 0 3 6 0 4 6 Woolworthd (N.Z.) ord. cum rights 5 10 0 — Woolworths (Victoria), pref. — 14 0 Sales. 2000 Maerewhenua (9d pd.)(2) 0 0 Hi

AUCKLAND j Sales on 'Change. & s. a. 4 p.c. Bonds, 1946 100 12 6Bank of New Zealand 2 6 3 ' 1 2 6 6 I Goldsbrough, Mort 1 9 0 1 Consolidated Brick 0 5I0..| 1 Farmers' Trading (B pref.) 0 8 6\ 1 Farmers' Fertiliser , .. •0 16 0 1 New Zealand Newspapers 1 7 6 1 N.Z. Refrig. (10s paid) (2) 0 9 8 Bell Kilgour 0 1 si1 Gillespie's Beach 0 2 s' j King Solomon 0 3 A Mataki' 0 2 5 i Broken Hill Pty. ' .. 2 0 6 J Waihi Grand Junction .'. 0 9 6 § WELLINGTON 1 Sales on 'Change. 1 £ s: d. I Com. Bank of Aust. 0 16 10 | 1 Com. Bank of Aust. (pref.)8 13 6 1! Union Bank .. • .\ 10 8 0 i Goldsbrough, Mort (late 1 Monday) .. 1 8 10 | 1 New Zealand Insurance ...'■■ 2 14 74 i N.Z. Refrig. (paid) 0 19 10 1 1 Staples .... 1. 7 10 1 i Sharland and Co. (pref.) 1 3 6 1 Mount Lyell • .. 1 4 3 1 Bejl Kilgour 0 1 Si 1 Nokomal . ■' ■ 0 2 Ik i Okarito 0 11 li 1 DUNEDIN Sales on 'Change. N.Z. Breweries (2) £ s. 1 17 d. 9 Okarito (3) 0 10 9 1 Bell Hooper (3) 0 1 oh j Sales Reported. | Westport Coal 0 13 3 i Bell Kilgour (late Mon.) .. 0 1 8J N.Z. Breweries (2) 1 17 9 National Bank 4 4 6 Union Bank 10 10 0 Bell Hooper 0 1 0i N.Z. Refrig. (pd.) 0 19 8 King Solomon (3) 0 3 3 i

Morning Sales. £ s. d. Commonwealth Bonds— 4 per cent., 1938 - .. 103 7 6 4 per cent, 1847 103 10 0 Com. Bank of Sydney 18 8 0 National Bank 6 15 0 Toohey's Brewery 1' 4 3 Tooth's Brewery ... 2 10 Tooth's Brewery (N.Z. delivery) .. 2 1 3 ; 2 16 Associated Newspapers 0 19 0 British Tobacco (ex div.) ..' 117 3 Broken Hill Proprietary .. 2 10 Dunlop Perdriau ... 0 18 6 Henry Jones 1 18 9 Afternoon Sales. Bank of New South Wales (N.Z. delivery) 34 10 0 Com. Bank of Sydney .. 18 10 0 National Bank (£5 paid) 6 14 0 Colonial Sugar 59 17 6 United Insurance .. 9 10 0 Associated Newspapers 0 19 3 Adelaide Steam .. 14 9 Burns, Philp 2 13 0 Bums, Philp (N.Z. delivery) 2 12 1Q| Australian Gas (A) 7 5 G Berlei 18 3 Berlei ' (contributing) 0 13 9 British Tobacco (ex div.) 1 17 3 Tooth's Brewery .. 2 2 3 Tooth's Brewery (N.Z. delivery) 2 13 2 16 Toohey's Brewery .\. 14 6 j Carlton Brewery 2 0 3 Dunlop Perdriau .. 0 18 4J i Goldsbrough, Mort 19 0 | Aust. Provincial Assurance 0 12 10 j Electrolytic Zinc 1 5 7| I Morris Hedstrom 0 19 3 | Henry Jones 1 19 0 1 Nestles (pref., ex div.) .. 1 14 0 Wilcox Mofflin 0 9 0 Anthony Hordern .. 1 Anthony Hordern (pref.) .. 0 12 5 1 1 3 Farmers 0 14 9 Meggitts 12 3 Standard Cement .. 0 17 6 United Provisions '.. 0 8 7 | Wunderlich 12 6 Hume Pipe 0 12 0 Greater J. D. Williams .. 0 8 6 David Jones 114 0 Lustre Hosiery 0 16 9 W. R. Carpenter 2 18 Mount Lyell 14 0 Broken Hill Proprietary .. 2 0 9 South Broken Hill 3 7 0 North Broken Hill 4 10 6 Mount Morgan .. .» 2 7 9 Bulolo Gold 4 17 0 Bulolo Deposits 0 2 0 Kuala Karnpar 0 10 0 Commonwealth Bonds— 4 per cent. 1938 103 8 9 4 per cent., 104J. 104 5 0 j 4 per cent., 1944 104 7 6 4 per cent., 1947 .. 103 12 6 4 per cent, 1950 104 10 0 4 per cent, 1953 104 15 0 4 per cent., 1957 105 10 0 4 per cent, 1959 106 0 0 4 per cent., 1961 104 16 3

(BRITISH omcua. wi»sms3.> (Beceive d October 3, 5.5 p.m.) KUGBY, October 2. Par. Sept. 30 . Oct. 2. Paris, fr. to £1 ' 124.21 79 5-16 78 23-32 NewTiork, dol. to £1 4.866 4.75 \ , 4.782 Montreal, dol. to £1 4.866 4.841 4.87J Brussels, belgas to £1 35 22.7J 22.12J Geneva, fr. to £1 25.2215 16.03 15.90 , Amsterdam, 11. to £1 12.107 7.70 7.65 Milan, lire to £1 S.54 59 1-16 58 11-16 Berlin, rolchmarkeri to £1 20.43 13.01 12.921 Stockholm, , kr. to £1 18.159 19.40 19.39J Cdpenhagen, kr. to £1 18.159 ' 22.40 22.40 Oslo, kr. to £1 18.159 19.90 19.90 Vionna, songs. to £1 34.585 29 22 nom.) Prague, kr. to £1 16,4.25 1042 1033 Helsingfors, marks to £1 193.28 2265 227 Jlsdridi pesetas to £1 25.2213 37 5-32 36 27-32 Lisbon, esoudos to £1 110 102* 1025 Athens, dracli to £1 375 'SCO 560 Bucharest, lei to £1 818.6 530 522J Bolgrs'le, dinars 25.0215 -r~ . 230 Rio de Janeiro. pence to milreis 4.892 48 ' 4g (official) (official) Buenos Aires, pence to dol. 45.577 45 45 (official) (official) Montevideo, pence to dol. 51 57 (nom.) 37 (nom.) Bombay penco to rupee ia 3 8 3-64 18 3-64 ShanBliai, penc i to dol. * 15J 15 7-16 Hong Kong, pence to dol. *■' 15 3-16 17 3-16 Yokohama, pence to yen 24.58 14 3-16 141 Warsaw, par zlotys to £1 43.36 .—. — Batavia, guilder 12.107 — — "'Determ ined by price ol silver.