FINANCE AND COMMERCE

Press, Volume LXXI, Issue 21400, 16 February 1935, Page 10

FINANCE AND COMMERCE

SHARE MARKET WEEKLY REVIEW During the last week the share market was-quieter and the number of transactions recorded on the metropolitan exchanges showed a falling off, Prices moved irregularly, but on the j whole, were in favour of **?**>**• j ■ Jcially in the case of several Australian industrials. In Government issues, breweries, and frozen meat shares there was an increased turnover. The following is a comparison of the daily recorded turnover on the local market for the last forntight:— This Last Week. Week. Saturday ~ 5> 897 732 , .Monday *. 4 283 2,844 'nSSdav - 948 2 ' 021 'Srsdav 2 743 1,068 Friday •• JW J^l £20,227 £15,459 The local turnover was made up as follows:—Debentures. £6060 banKs £3611, pastoral £3Ol, refrigerating £343, breweries £1963, gold mining The'number of shares that changed hands in each section was:—Banks lWb, insurance 400. loan and agency 500, frozen meat 609. gas 200, breweries 350 miscellaneous 3015, gold mining 27,540. Government Loans The following transactions were reper cent. ■ stock, 1938-43, £107; 1939-52, £lO7 2s 6d: 1938-52, £lO7 Four per cent, stock, 1937-4U, £lo2' 15s to £102; 1943-46, £lO6 15s, £lo7—ex interest £los—bonds, £lO7 2s 6d, £107; bonds, £lO7 10s; 1946-49, £lO7 10s, £lO7 7s 6d; 1952-55, £lO9 2s Gd to £lO9 10s. Rural Bonds £lod, Mount Albert 4£ per cent, debentures changed hands at £lO6 ss. Banks Australasias remained unaltered at £ll 12s 6d. Commercial of Australia, ex dividend, changed hands at 16s 7d, 16a 6d, and 16s sd. and the preference at £9 17s. Commercial of Sydney declined to £l6 13s. E., S., and A. eased to £5 and £4 19s. National of Australasia. £lO paid, had dealings at £l2 17s 6d and £l3—the £5 paid were easier at £6 7s and £6 6s 6d. New South Wales, cum dividend, weakened from £3l 12s 6d to £3O 15s. New Zealand receded from 50s 9d to 49s 9d—the "D" Mortgage remained at 32s 6d and 325. Reserve Banks relapsed to £6" 10s 6d, £6 lis, and £6 10s. Insurance and Loan and Agency National Insurance were easier at 23s 2d to 23s (last week 22s lOd to 23s 6d); New Zealand, cum dividend, eased to 69s 6d and 695, and business ex dividend was at 675. Standards were firm at 72s 6d. Goldsbrough, Morts declined to 28s 3d. New Zealand Guarantee Corporation were steady at 5s lOd and 6s. New Zealand Loan and Mercantile ordinary stock changed hands at £45 and £42 10s. United Building Society firmed to 225. Frozen Meat, Coal, Gas, and Woollens New Zealand Refrigerating were easier with dealings in the fully paid at 19s 9d and 19s 6d, and in the 10s paid at 9s 6d to 9s 4d. Gears were weaker at 225. Renown Coal ordinary were firm at 7s 9d, and the preference at 2s 3d. Taupiri eased to 17s 6d. "Westports remained unaltered at 225. Auckland Gas, fully paid, advanced to 27s 6d and 27s 7£d, and the 15s paid to 20s. Christchurch Gas, ex dividend, had dealings at 34s 9d and 34s 101 d. "Bruce Woollens (ordinary) had business at 14s 6d. Breweries Dominion changed hands at 16s 3d. ■ New Zealands gradually weakened ■ from 51s 9d to 50s, closing around 50s 6d. Timaru (10s paid), advanced to 12s 6d. Tooths are easier, with local sellers at 48s 4d—last week's business was at 51s. Miscellaneous Investment Section Amalgamated W'ireless (contributing) were fractionally weaker at 42s 6d. Australian Glass were steady at 64s 6d, but weakened to 62s sellers at the close. British Tobaccos slid back to 38s 4d to 38s Id, and Bycrofts to 50s 6d. Broken Hill Proprietary were fractionally weaker at 53s to 52s 6d. Colonial Sugars eased to £4l. Dominion Fertilisers were firm at 21s 6d. Dunlop Rubbers dropped to 19s, 18s £d, and 18s 4d. Drug House of Australia had business at 24s lid. Electrolytic Zinc were firmer, with dealings in the ordinary at 21s 9d to 225, and in the preference at 34s and 34s 6d. Henry Jones advanced to 37s Id. KD.'V. Boxes "rights" were dealt in at 9d. Kauri Timber recovered to 19s 2d. • Milburn Lime were firm at 43s 3d. National Timber firmed to 15s. New Zealand Drugs eased to 78s 6d. New Zealand Farmers' Fertiliser rose to 19s. New Zealand Newspapers remained at 355. Northern Roller Milling (preference) had business at 26s 6d. Quill Morris <in liquidation) moved up to 4s 9d and 4s lOd. Robinson Ice Cream were firmer at 23s and 245. 'Sun Newspapers showed an easing at 4s 4d, 4s sd, 4s 2d, and 4s. Woolworths (Sydney), second preference, remained unaltered at 30s. Wilsons Cements advanced to 33s 9d and 345. Gold Mining The local turnover of 27,540 shares was made up as follows:—Big River, ?340; Brian Boru, 11,300; 2000 Goldfields Dredging; 300 Kildare; 800 King Solomon; 500 Lawson's Flat; 1000 Maerewhenua; 2600 Mahakipawa; 300 Mahakipawa (pref., 1929 issue); 1650 Maori Gully; 300 Mossy Creek; 900 Mount Lyell; 1500 Nevis Diesel Electric; 200 Nokomai; 150 Okarito; 200 Rawang Tin (cum div.); 1500 Skippers. Big Rivers were easier at prices ranging from 2s Id to 2s 3Jd, and Brian Borus at 7d to 4£d. Gillespie's Beach were steady at Is 7d. Glenroy , had business at 2d. Goldfields Dredg--1 ing were firm at 8d to 9|d. Kildares advanced to 2s lid and 3s, and King Solomon to 3s lOd, 3s lid, and 4s. Lawson's Flat were a shade better at 3|d. Maerewhenua realised l£d. , Mahakipawa were firm at io4d and lOd—the 1929 preference were fractionally weaker at Is 3d. Mataki firmed to Is lid and 2s. Mossy Creek ; were fairly steady at 2s sd. Mount . Lyells ranged from 17s 4d to 17s lOd. ■ Maori Gully remained at Is 4d. Mount rose to 40s 6d, 40s 3d, and 40s sd. Nevis Diesel Electric were firmer at Ud, 2d, and ljd. Nokomais eased to 2s 4d; Talisman Dubbo to fls 6d; Okaritos were firm at 8s and | . 8s OJd. Rawang Tins were steady at 7s lid and Bs. Skippers showed an , : easing at 6£d, 6d, and s£d. Waihi i were firm at 39s sd, and 39s 6d, and '• Grand Junction at 4s 8d and 4s 9d. ; '. f ■ . „ , .

YESTERDAY'S TRANSACTIONS There was a moderate turnover on 'change yesterday, with the bulk of the dealings on the afternoon call. Prices of several stocks showed an easing. Transactions, exclusive of vestibule business, were:— Sales on 'Change £ s. d. 200 Comm. Bank of Aust. (2) 0 16 5 50 National Bank of N.Z. 3 9 6 20 Reserve Bank .. ° 10 u 100 Goldsbrough, Mort .. 18^ 200 N.Z. Guarantee Corp. (2) 0 o u 100 N.Z. Breweries • • 2 10 6 200 British Tobacco (2) 1 1» 100 Dunlop Perdriau Rub. 0 18 4 100 Sun Newspapers .. 0 4 u 200 Big River • - » Z p 3500 Brian Boru (5) 0 « » U U T:;>" 0 0 5 200 Maori Gully • 0 1 •* 1100 Mahakipawa (3) o u xu 200 Mahakipawa (pref.) (1929 issue) .. 0 13 Sales Reported 100 Mount Lyell - - 0 17 9 300 King Solomon (late sale Feb. 14) .. 0 4 0 1000 Goldfields Dredging 0 0 9 100 Dunlop Perdriau Rub. 0 18 9 15 Colonial Sugar (2) 41 0 0 50 Bank of N.Z. .. 2 10 0 £960 N.Z. Govt. 4 p.c. Ins, 1937-40 (2) 102 0 0 Unlisted Stocks Sales on 'Change 600 Macetown .. •■ 0 1 5 150 Woolworths (Sydney) (ord.) .. (2) 4 12 3 Sales Reported 50 Woolworths (Sydney) (ord.) .. 4 12 6 Bonds and Bank Shares New Zealand Government 4 per cent, stock, due £1940, changed hands at £lO2 and there were further buyers at £lO2 2s 6d. sellers at £lO2 7s 6d. Commercial Bank of Australia were firm at 10s sd, market closing Id either way. National Bank of New Zealand eased to 69s 6d and there were further sellers at 70s, buyers at 67s 6d. Bank of New Zealand remained unaltered at 50s but closed easier with sellers at 49s lid. Reserve Banks were weaker with sellers and business at £6 10s, buyers at £6 9s. Sellers of New Zealand Insurance reduced their limits to 66s sd, buyers at 65s 7d. Goldsbrough, Morts changed hands at 28s 3d, and more were offered at that price, buyers at 28s 2d. New Zealand Guarantee Corporation were firm with dealings at 6s, and further buyers at 5s lid. sellers at 6s 3d New Zealand Breweries were steady at 50s 6d, closing quotations 3d on either side. British Tobaccos had dealings at 38s 2d, market closing Id either way. Colonial Sugars were firm with'dealings at £4l and more were offered at that price, buyers at £4O 10s. Dunlop Perdriau Rubbers were easier with dealings at 18s 9d and 18s 4d. and further sellers at 18s sd, buyers at 18s 3d. Sun Newspapers were easier with business at 4s, buyers staying in at that price, sellers at 4s 3d Buyers of Wilson's Cements raised their bids to 34s 3d without attracting sellers. Mining Big Rivers were a shade stronger at 2s 3id. sellers staying in at that figure buyers at 2s 3d. Brian Borus had dealings at 4-Jd and sd, and these were buyers' and sellers' closing quotations respectively. Goldfields Dredging moved up a point to 9d, market closing 8d buyers, B£d sellers. A late .sale of King Solomon on February 14 was reported at 4s. Mahakipawas remained unaltered with buyers and dealings at lOd sellers at 10|d; the 1929 preference were firm at Is 3d. Maori Gully were steady with sellers and business at Is 4d. Mount Lyells changed hands at 17s 9d and there were further sellers at that figure, buyers at 17s 7d. Unlisted Stocks Macetown showed an easing, with dealings at Is 5d and Is 3|d, and further unsupported sellers at Is 4d. Woolworths (Sydney) ordinary had dealings at 92s 3d and 92s 6d, sellers staying in at the higher price, buyers at 92 S 4d. ' AUCKLAND [THE PRESS Special Service.! AUCKLAND,- February 15. Unfavourable tendencies developed in the investment market on the Auckland Stock Exchange this week, and the tone of the market generally was easier than at any stage this year. Bank and insurance issues lost considerable ground, Bank of New Zealands dropping in one week the advance which had taken three weeks to achieve. Enquiry for industrials also was dull, with the result that there was a smaller turnover for the week. The experience of the week indicates the close contact of the Australian investment market with that in New Zealand. Some of the present weakness may be traced to the decline ! in values on the Australian stock exchanges, especially to New South i "Wales, where an election is pending. j Unfavourable Australian trade figures ! which were announced recently have also had a depressing effect Rightly or wrongly, New Zealand gets the | back wash from these Commonwealth : disturbances. Unfortunately a more widespread reaction than appears to be justified can be seen. Although trading in Government loans was light, a firm tone was maintained in this market. There was a large turnover in Bank of New Zealands at declining prices. Selling opened unchanged at 50s 9d and 50s was reached at midweek, with subsequent sales down to 49s 9d on a total of 10 transactions. Commercials were also fairly active, closing 2d lower at 16s 6d, with intervening sal»s at 16s sd. Reserve Banks were placed at £6 lis, a fall of 6d. The peak levels for Auckland In- j surance issues were not maintained. New Zealands dropped 6d. There were dealings at 69s before the dividend payment, and there was a transaction to-day at 675, which takes the shares back to the December level. There were no buyers for South British at 975, at which business was done last week. Standards remained firm, selling unchanged at 72s 6d. The quiet tone continued in the classified sections. In the mining market there was little of interest outside Waihi issue. Waihis recovered 3d in dealings up to 39s 6d, and Waihi Junctions, which were transferred steadily at 4s Bd, rose to-day to 4s 9d. DUNEDIN [THE PRESS Special Service.] DUNEDIN, February 15. A good volume of business was transacted on the Stock Exchange during the last week, the numbers of shares changing hands comparing more than favourably with those of recent weeks, in spite of the fact that the exchange was closed on Thursday for the Dunedin Cup. Bank Shares Two parcels of Bank of New Zealand shares changed hands at £2 10s, a closing seller at the same figure attracting an offer of £2 9s 9d. Long term "D" issue was fairly active, the shares being disposed of" at £1 12s 6d and £1 12s. Buyers* final offer

was £1 lis 9d, while sellers required j threepence extra. Commercial Banks ■were on offer at 16s 7d at the end j of the week, but buyers were not in- i terested. Transactions in E., S., and A. j Banks at £5 were recorded, a closing | seller at £5 Is failing to attract buy- j ers. National of New Zealand's were offered for sale at £3 lis, but buyers would not give more than £3 9s. Sellers of Reserve Banks wanted £6 lis at the end of the period, but this price did not tempt buyers. Insurance ' National Insurances were the subject of business at £1 3s and £1 3s Id, the market closing with a seller at £1 3s 2d, and no buyers offering. New Zealand Insurances were offered for sale at the easier price of £3 Bs, but buyers did not respond. Buyers of Standard Insurances were prepared to give £3 12s. Sellers were not interested. Preferred Huddart Parkers were on offer at the slightly reduced figure of £1 9s 9d without any response being received from buyers. The market for Union Steams remained unchanged with a seller at £1 7s 9d and no buyers. Meat Export Stocks Paid up New Zealand Refrigerating Company's shares were disposed of at 19s 9d and 19s 7d, ex dividend, closing, buying and selling quotations being 19s 3d and 19s 9d respectively. For the contributing issue buyers offered 9s 5d ex dividend, sellers requiring 9s 6d ordinary. Southland Frozen Meats were enquired for at £3 18s, which was two shillings below sellers' requirements. Goldsbrough, Morts were offered for sale at the slightly lower price of £1 9s, but buyers were not interested. Preferred New Zealand Loan and Mercantiles were enquired for at £4 15s, without sellers coming forward. New. Zealand Guarantee Corporations were in demand at 5s lOd at the end of the week, after having been enquired for at 5s lid earlier in the period, but at no time did sellers respond. Coal Three sales of Westport Coals at £1 2s were recorded during the week, buyers' final offer of £1 Is 3d being ninepence below sellers' requirements. Kaitangatas were on offer at £1 Os 3d, but buyers did not come forward. Preferred Westport-Stocktons were offered for sale at 4s 3d, but buyers were reticent. Business was done in Australian Glass shares at £3 4s 6d, the last buying and selling quotations received for this stock being £3 3s 6d and £3 4s 6d respectively. British Tobaccos were on offer at the more attractive price of £1 18s 9d, but no response was received from buyers. Broken Hill Proprietary shares were disposed of at £2 13s, the final selling quotation of £2 13s 6d failing to attract buyers. Ordinary Bruce Woollens changed hands at 14s 3d, the market closing with a seller at 14s 6d. Three sales of Dominion Fertilisers at £1 Is 6d were recorded, the final buying offer remaining unchanged at £1 Is 4d. Milburn Limes were offered for sale at the slightly reduced figure of £2 3s 3d without buyers showing any interest. Business at £2 3s 3d was reported. New Zealand Drugs were the subject of business at £3 18s Cd, closing buying and selling quotations being £3 17s and £4 respectively. Brewery Stocks There was an easier demand for ; New Zealand Breweries, buyers' best '■ offer at the end of the period being i £2 10s 3d, but sellers refused to accept less than £2 12s. Timaru Breweries were enquired for at 8s Bd, sellers refusing to do business under 9s Id. Mining' There was a fairly steady demand for the more stable mining shares. Big Rivers were enquired for at 2s Id, while sellers asked 2s 4d. Business at 2s 3d was recorded. Gillespie's shares were on offer at Is 7id without any response being received from buyers. A sale at Is 7d was reported. There was an improved demand for | Kildares, buyers offering 2s Bd. Sellers, | however, required 3*; Id. King Solomons were also in better demand at 3s lOd, but sellers showed no interest. Okaritos were the subject of business at Bs, the market closing with buyers offering 7s lid and sellers asking Bs. Government Bonds New Zealand Government Loans met with a good demand, although sellers did not come forward freely. Three and a half per cent. stocks, 1938-52 issue, changed hands at £lO7, the final buyer at the same figure failing to attract sellers. Four per cent, stocks, 1940 issue, were disposed of at £lO2 10s, the market closing with a buyer at £lO2. NATIONAL MORTGAGE AND AGENCY COMPANY DIVIDEND DECLARATION (UNITED PRESS ASSOCIATION—HV KU-XTKIC TELKGHAI'II—COPYRIGHT.) LONDON, February 14. The National Mortgage and Agency Company of New Zealand, after contributing £6255 to staff superannuation and provident fund, showed a credit balance of £37,371, of which £14,986 was brought forward. After paying a final dividend of 5 per cent., tax free, and placing to reserve £SOOO, the amount carried forward is £15,292. [The dividend for the year ending September 30, 1933, was also 5 per cent. The net profit was £18,420. The reserves were £309,986.] PRICE OF GOLD LONDON, February 14. Gold (a fine ounce) is quoted:— •t. s. d. February .14 .. 7 2 6i February 13 ..724 February 12 .. 7 2 21February 11 .. 7 2 3A February 7 ..721 February 6 .. 7 1 101 PRICE OF SILVER LONDON, February 14. Silver (pence an ounce) is quoted:— Feb. 12. Feb. 14. Spot .. 24 7-16 24§ Forward .. 24 9-16 245 LONDON MARKETS BUOYANT EFFECT OF SATISFACTORY TRADE FIGURES (BRITISH OFfICIAt, WIRELESS.) (Received February 15, 7.5 p.nr.) RUGBY, February 14. Stock markets were in a buoyant mood throughout to-day, in contrast to the previous few days. The satisfactory figures of the Board of Trade returns were largely responsible. AMALGAMATED WIRELESS DIVIDEND DECLARATION (PRESS ASSOCIATION TELEGRAM .} WELLINGTON, February 16. I Amalgamated Wireless, Ltd., has adI vised the Stock Exchange Association of an interim dividend of 4 per cent. | on capital, payable on March 16.

VALUES ON STOCK EXCHANGE CHRISTCHURCH BATES, FEBRUARY 15, 1935 FORMER LEVELS COMPARED

OTIIKK QUOTATIONS N.Z. Government Debentures Buyers. Sellers. .i' s. d. £ b. d. 4 V c. Ins., i'J.'iT-l'J .. 102 2 (i 102 7 6 4 j) c. Ins., MI4G-10 .. 107 0 0 4 p.c. Bond*, 1037-40 102 5 0 - 4 p c. Bonds, 104G-10 107 0 0 4 p.c. Bonds, 1052-55 109 0 0 Rural Bonds .. .. 101 15 o Other Debentures Gisbnrno Sheepiarmcrs, CJ p.c, 1011 •■ 102 0 0 Insurance A.I'.A. •• •• 0 10 1 0 10 0 Loan and Agency .\ 7. Iju.lll and Mercantile (ord. stock) .. 40 0 0 47 0 0 N.Z. Loan and Mercantilo (prof, stock) .- 70 0 0 Woollens Kaiapoi (17a paid; .. 0 14 0 0 15 3 Kaiapoi (7s paid) .. 0 4 0 Kaiapoi (pref.) •• 0 18 G Coal Stockton (ord. .. 0 2 3 Stockton (pre!.) . —.05 0 Miscellaneous Associated Newspapers .. 10 2 1 3 0 Amalg. Wireless (contr.) 2 1 0 2 :i 0 Aust. Iron and Steel (praf.) .. .. 1 2 '2 12 8 Broken Hill Proprietary 2 10 7 2 11 10 Claude. Neon (Sydney) .. '2 2 0 2 <l 0 Kvans Atlas i-'iour -. 1 10 0 2 0 0 Myers Kiupori um ... 1 S G 1 .10 0 New Colosseum •• 1 11 0 N.Z. Farmers' Co-op. ("A" prof.) .. 0 15 0 N.Z. Farmers' Co-op. ("B" pref.) .. .. - 10 0 N.Z !'tinners' Co-op. (■tt p.c, Stock, 10151 82 0 0 SI 0 0 N.Z. "Newspapers 1 15 0 O.T. Limited 1 18 0 Quill. Morris !in liquidation) .. 0 4 G 0 4 !) Sun Newspapers 0 4 0 0 4 II United Pictures (cum ,liv.) .. ..110 Woolwortlis (N.Z.), ord. - 10 I) 0 Woolwortlis (Vic), prof. 1 10 0 Mining Alexander' •• 0 15 0 o Hi 0 Bell Hooper .. .. 0 0 .1 Bell lulKimr ■ •- 0 0 0} 0 0 I BendiKo Goldlitfhls .. 0 0 <> 0 0 11 Bi S Kivr-r .'. -..0230 2 31 Brian Born .. .. 0 0 44 0 0 5 Charleston .. .. JJ " ** Deep Lead .. 0 1 11 0 - .> Gillespie's Beach .. 0 17 0 17* Glcnroy .. ..0 0 V. 0 0 4 Golconda (lid paid) .. 0 0 G 0 1 4 Golden Dawn .. .. ° 2 7 Golden Point .. .. «« 0! (I 0 I! Golden Sands .. .. 0 2 4 o^7 Goldficlds Dredging .. 0 0 8 0 0 8* .huldaro .. •• 0 2 » <» -1 Kins Solomon .. 0 3 10J 0 3 L J Maori Gully .. 0 1 3 0 I 4 Dawson's Klat •■ <» « 2; 0 0 4 Maerewhcnua .. .. 0 0 1 0 0 2J Mahakipawa .. .. 0 0 JO 0 0 10* Mahakipawa (pref.), 1020 , ~ issue •• (> J - '* Mahakipawa (prof,). 1030 issue . • • 0 1. ■■> Mining House Concessions .. ■ ■ " '' ' Moonli-rht Nolson Creek 0 0 H Mossv Creek .. •■ ° 2 ~,; 0 . 4 a Mount Lycll .. •■ 0 17 7 0 17 0 Mount Morgan .. 1 10 0 2 0 2 Xevis Diesel Electric .. 0 0 1J 0 0 2J Nokomai ■• •• n 3 1 0 2 5 Okarito (cum d.v.) .. 0 7 10 0 8 0J Oxenbridgo Sliotover .. 0 0 2* Peninsula Tin (15s pd.) 0 10 0 13 0 Rawnng Tin (cum div.) 0 8 0 0 8 2 Sandhills Gold -. 0 0 4 Skippers •• •• 0 0 51 0 0 G Stafford Sluicing •• 0 0 10 0 12 Waihi .. •• 1 10 G 1 10 R Waitahu • •• 0 2 6 Worksop Extended .. 0 2 7?, 0 2 10 j UNLISTED STOCKS All transactions in stocks quoted in this section are subject to a'different rate of brokerage from listed stocks and are not quoted on the official list: Buyers. Sellers. • £ b. d. £ s. d. Associated Motorists Petrol (pref.) '.. ISO Argo Gold (Is paid) .. 0 15 0 1 8 Ben Ledi .. .. 0 0 G 0 0 8 Barrytown (10s paid) .. 12 0 13 6 i Christ-church Press .. 7 2 G New River .. .. 0 0 51 Moonlight Goldfields .. 0 0 9 0 18 Macetown .. .. 0 14 N.Z. Perpetual Forests 9 4 0. 2 10 0 N.Z. Mining Investment 0 10 Para Rubber (15s paid) 0 16 0 Procora Bread (10s pd.) 0 13 3 K. Reece. Ltd. (pref.) 0 1 t 0 3 0 j Regent Theatre Build. (Christchurcli) - 0 ? fi Stacey and Hawker I pi.) 10 0 Toper 'Watut (2s paid) 0 5 0 0 G 8 Wbre's, Investment Trust 0 4 0 Woolworths (Syd.), ord. 4 12 i i 12 6

AUCKLAND Sales on 'Change £ s. a. Stock, 1940, 4 p.c .. 102 5 0 Stock, 1946, 4 p.c. (ex. int.) 10j 0 0 Mt. Albert, 1865. A\ p.c .. 106 5 0 Bank of New Zealand . 9H g Reserve Bank .. 611 0 N.Z. Insurance .. o - -I ' « National Timber (2) 015 0 Bycrolt. Ltd 2 10 6 Gear Meat .. .. 12 0 Mataki •• •• ° j « Waihi Junction f 2l 0 4 9 WELLINGTON Sales on 'Change ,£ s. d. Ins. Stock, 4 p.c. 1946 .. 105 0 0 N.Z. Refrig. •• " at Dunlop Perdnau -- »j» jjz Wilson's Cement .. 1 14 0 King Solomon Hate Thurs.) 0 4 0 Unlisted Stock Woolworths. Ltd. (ord.) (5) 412 6 DUNEOIN Sale on 'Change £ s. d. Bank 01 N.Z. •■ 210 0 Sales Reported Bank of N.Z. (long D.) (late Thursday) .. .. 112 0 Okaiito date Thursday) 0 8 0 Bank of N.Z. \. .. 210 0 E., S., and A. Bank .. 5 0 0 Bruce Woollen (ord.) .. 014 3 N.Z. Rehig. (paid) .. 019 7 3.J p.c Stock, 1938-52 ..107 0 0 SYDNEY On the Sydney Stock Exchange yesterday values continued to ease. Leading industrials, including Broken Hill Proprietary and Colonial Sugar, slackr ened. Morning Sales £ .s. d. Commonwealth Bonds—- ! 3 p.c 1948 -• 100 10 0 31 p.c, 1948 •• 101 10 0 4 p.c, 1941 ..100 0 0 4 p.c, 1944 .. 107. 6 3 4 p.c, 1947 . • 108 10 0 4 p.c. 1953 •• 107 12 6 4 p.c, 1955 • • 107 12 6 4 p.c, 1961 . • 109 5 0 Tooths Brewery (N.Z. delivery) .. • • 2 8 6 Anthony Hordern .. 0 18 0 Associated Newspapers (pref.) .. .- 1 3 4£ British Tobacco .. 213 0 Broken Hill Prop. .. 2 13 0 Burns, Philp .. .. 3 2 6 Dunlop Rubber .. 018 104 Dunlop (pref.) .. 119 0 1 Goldsbrough, Mort .. 18 3 .Tames Stedman .. 0 16 3 Afternoon Sales • Colonial Sugar .. .. 41 10 0 Bank of New South Wales 30 10 0 Com. Bank of Sydney .. 16 5 0 National Bank (£5 pd.) 6 8 0 Union Bank . . -. 8 12 6 Associated Newspapers .. 12 9 Associated Newspapers (pref.) .. .. 13 4J Howard Smith .. .. 0 16 3 Huddart, Parker .. .. 118 6 Australian Gas "A" .. 7 18 0 British Tobacco .. .. 1 18 9 Tooths Brewery .. .. 2 8 6 Toohey's Brewery .. 19 3 Carlton Brewery .. 215 3 Australian Glass .. 3 10 Dunlop, Perdriau .. 0 18 9 Goldsbrough, Mort .. 18 6 Winchcombe, Carson .. 16 6 Fairymead Sugar .. 117 0 Electrolytic Zinc ~ I 1 10| David Jones .. .. 2 0 0 Anthony Hordern .. 018 0 Lustre Hosiery .. .. 16 9 Standard Cement .. 019 4J Drug Houses of Australia 1 4 10J Australian Iron and Steel (pref.) .. .. 1 2 10£ Broken Hill Prop. .. 2 11 9 Bulolo Deposits .. .. 0 011 Placer Development .. 28 5 0 General Industries .. 014 6 j MELBOURNE i £ s. d. Com. Bank of Australia 016 9 Com. Bank of Australia (pref.) .. .. 9 19 0 National Bank (£5 paid) 6 8 0 Goldsbrough, Mort .. 18 3 Australian Glass (pref.) .. 2 3 0 Australian Iron and Steel (pre!) .. .. 12 9 Broken Hill Prop. ... 212 0 Dunlop, Perdriau ~ 018 8 Howard Smith .. .. 0 16 6 Mount Lyell .. .. 0 17 10 Electrolytic Zinc .. 12 2 Tongkah Compound .. 12 3

BANK OF ENGLAND RETURN ' LONDON, February 14The following is the Bank of England return for the week ending February 14: ISSUE DEPARTMENT £ * Notes Issued— Govt. debt. 11,015,100 In circula- Other Govt. tion .. 374,945,595 securities 245,638,421 In bank- Other secuing dept. 77,488,531 rities .. 900,813 Silver coin 2,445,666 Fiduciary * issue - 260,000,000 Gold coin & bullion .192,434,126 Total 452,434,126 Total 452,434,126 BANKING DEPARTMENT £ £ Proprietors' Govt, secucapital 14,553,000 rities . 82,766,413 The rest . 3,625,036 Other secui Public de- rities—posits . 18,340,176 Discounts Other do- and ad- . posits— vances . 7,942,597 Bankers' 101,819,644 Securities 9,979,403 Other acs. 40,42G,696 Notes .. 77,488,531 Seven-day Gold and and other silver coin 587,608 bills .. Total 178,764,552 Total 178,764,552 Proportion of reserve to liabilities, 48.60 per cent.; short-dated bills, S Per cent.; three months' bills, 5-16 per cent. The fiduciary issue of £260,000,000 consists of the following:—Government debt, other Government securities, other securities, and silver coin. GOVERNMENT SECURITIES LONDON, February 14. The following are the latest quotations for Government securities compared with the prices ruling last week: Last week. This week. £ s. d. £ 8. d. British Consolß .. .. 90 0 0 92 0 0 Funding Loan, 4 p.c. 118 15 . 0 120 7 6 War Loan, 3J p.c. .. 107 15 0 108 5 0 Con. Loan, 3A p.c. .. 110 0 0 111 5 0 Victory Bonds, 4 p.c. 117 0 0 118 2 6 Commonwealth—--5 p.c., 1945-75 .. 11l IS (I 112 17 6 5 p.c., 1035-45 ..102 0 0 102 2 6 4 p.c., 1943-48 ..106 2 6 106 15 0 3g p.c., 1948-53 .. 104 0 0 104 8 y 3J p.c., 1936-37 ..103 3 9 103 15 0 New South Wales—--3 p.c., 1935 ..102 5 0 102 7 6 a J p.c., 1930-50 ..300 2 6 100 5 0 4J p.c., 1935-45 .. 101 6 3 101 8 9 C p.c., 1935-55 .. 103 13 9 103 16 3 Victoria—--3 p.c., 1929-49 .. 99 6 3 99 15 0 4J p.c., 1940-60 .. 106 0 0 106 10 0 5 p.c., 1945-75 .. 110 10 0 112 10 0 Queensland — 3 p.c., 1922-47 .. 99 2 6 99 12 6 5 p.c., 1940-60 .. 108 17 G 109 10 0 South Australia—--8 p.c., 1916 or after 92 0 0 92 13 9 5 p.c., 1945-75 ..111 0 0 112 10 0 Western Australia—--3 p.c., 1915-35 .. 101 0 0 101 3 9 4 p.c., 1942-62 .. 103 17 6 104 2 6 Tasmania—--3J p.c., 1920-10 .. 101 10 0 101 10 0 4 p.c., 1940-50 .. 104 0 0 104 0 0 Scv Zealand—--4§ p.c., 1348-58 .. 109 15 0 110 10 0 3J p.c., 1940 .. 104 5 0 104 13 9 3 p.c., 1945 .. 101 10 0 101 16 3 6 p.c,. 1930-51 .. 105 13 9 105 16 3 FOREIGN EXCHANGE RATES Tho Bauk of New South Wales, Christchurch, quoted the following rates as ruling yesterday for its sales and purchases of foreign exchange. The rates are subject to alteration without notice:— Buying. Selling. London—- £ N.Z. to £IOO sterling T.T. 124 124/10 O.D. 123/10 124/7/6 Australia — £ A to £IOO N.Z. T.T. 101 100/10 O.D. 101 100/10 Fiji—- £ F to £IOO N.Z. T.T. 90/7/6 S9 O.D. 90/7/6 89 New York— Dol. to £ N.Z. T.T. 3.95J 3.893 O.D. 3.96S 3.90 i Montreal— Dol. to £1 N.Z. T.T. 3.95J 3.911 O.D. 3.96| 3.911 France— Francs to £1 N.Z. T.T. 60.08 58.78 O.D. 60.38 53.83 Noumea— Francs to £1 N.Z. T.T. 61.03 58.03 O.D. 61.43 58.08 Papeete— Francs to £1 N.Z. T.T. 61.03 58.03 O.D. 61.43 58.08 Belgium— Belgns to £1 N.Z. T.T. 17.171 16.471 O.D. 17.271 16.486 Germany— Reichmnrks to £1 N.Z. T.T. O.D. Italy— Liro to £1 N.Z. T.T. O.D. Switzerland— Francs to £1 N.Z. T.T. 12.338 11.938 O.D. 12.-113 11.948 Holland — Florins to £1 N.Z. T.T. 5.936 5.686 O.D. 5.986 5.690 Java— Florins to £1 N.Z. T.T. 5.895 5.670 O.D. 5.915 5.674 Japan— N.Z. pence to yen T.T. O.D. Shanghai— N.Z. peneo to dol. T.T. 21iJ 23 1-16 O.D. 21| 23 India and Ceylon— N.Z. ponce to ru. T.T. 22 13-32 22J O.D. 22 9-32 22 11-16 Hong Kong— N.Z. ponco to dol. T.T. 26 17-32 27 19-32 O.D. 26 13-32 27 17-32 Singapore— N.Z. pence to dol. T.T. 34 7-16 85g O.D. 34 5-16 35 6-16 FOREIGN EXCHANGES (BRITISH OFFICIAL WIBELISS.) LONDON, February 14. ~ . , p ar. Feb.l3. Feb. 14. Pans, fr. to £1 .. 124.21 74 1-32 73 31-32 New York, dol. to £1 4.§G6 4.88 1-16 4 88 Montreal, dol. to £1 4.866 4.89 4.888 Brussels, belgas to £1 35 20 89 09 09 Geneva, fr. to £1 .. 25.2215 15.08 15 08 Amsterdam, fl. to £1 12.107 7.221 7.22 Milan, liro to £1 .. 93.47 57 7-16 57 7-16 Berlin, reichmarken 1o £1 ■■ ■■ 20.43 1.2.16 12.16 Stockholm, kr. to £1 18.159 19.90* 19 901, Copenhagen, kr. to £1 18.159 22.39J 22 39* Oslo. kr. to £1" .. 18.159 19.90 i 1990S Vienna, scligs. to £1 34.585 26} 0(51 Prague, kr. to fl .. 164.25 116? 116? Helßincrfors, marks £1 .. 193.23 226J 2261 Madrid, pesetas to . £1 ■■ ■■ 25.2215 35 23-32 35 23-32 Lisbon, escudos to ... £i . lln Uoi UOJ Athens, arach to £1 875 515 515 Bucharest, lei to £l. 818.6 485 tßsi Belgrade, dinars .. 25.2215 21.6 21.6 Bio do Janeiro, pence to milreis .. 4.892 41 4$ I Buenos Aires, pence i to dol. .. 57 391 391 , Montevideo, pence to dol - •• --57 395 so 1 Bombay, pence to rupee .. ..19 18 5-32 18 5-32 Shanghai, pence to dol. .. * 17 13-16 171 Hong Kong, pence to dol. .. * 2111-16 219-16 Yokohama, pence to „ yen * 14 14 Batavia, guiders .. 12.107 7.22J 7.20J Warsaw, par zlotys ; to £1 .. 43.36 * Determined by price of silver. DOLLAR-STERLING EXCHANGE The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates yesterday, ■which are subject to alteration without notice: U.S.A. Canada, dol. dol. Conversion of dollar billß received for collection and safe of dollar drafts fnd telegraphic transers .. .. 4.86 4.87 Purchase of dollar bills .. 4.90 '4.91 On a New Zealand currency basis these rates are equivalent to: Selling— T.T. 3.305 3.914 O.D. 3.90J 3.91J Buying— O.D. 3.93S 3.941

QUILL, MORRIS, LTD. LIQUIDATORS' REPORT AND BALANCE-SHEET The report and balance-sheet of the joint liquidators (Messrs J. T. Sutton and W. H. Nicholls) of Quill, Morris, Ltd. (in voluntary liquidation), has been issued and will be presented to shareholders at a meeting to be held on February 26. The statement, which is to January 25, 1935, is as follows: The liquidators beg to report to shareholders with reference to the results of the third year of the winding up of the company. It will be seen that further progress has been made in the liquidation of the company, the bank overdraft having now been reduced from the very considerable indebtedness of £41,896 3s lOd in January, 1932, to a net figure at January -'5, 1935, of £7233 6s 3d. Furthermore, /e have pleasure in advising that the trading operations of the year have resulted in a net profit of £3027 14s Id, which sum has contributed to a considerable degree in enabling the liquidators to make reductions in the bank overdraft. Accumulated profits for the three years and 20 days during which the liquidation of the company has been in progress amount to £6610 15s sd. We feel, you will agree that the trading results and overdraft reductions can be considered with a'-measure of satisfaction, the achievements suggesting that the successful reconstruction of the company is now definitely within sight. The meeting called to consider the balance-sheet and report will be a very considerable one, as certain matters preliminary to reconstruction of the company will be placed before shareholders for consideration. Unfortunately, certain claims made against the company have not yet been finalised, and until this is done the" actual reconstruction must necessarily be delayed. It is felt, however, that the time is opportune for proposals to be made, and as this meeting of shareholders will be the most important held since the company went into liquidation it is hoped that you will be present. LIABILITIES £ s. d. Nominal capital shares of £ 1 each fully paid .. •. 82,250 0 0 Bank of New Zealand — Overdraft as at January 25, 1934 .. 15,500 0 0 Less amounts transferred from liquidators' account .. 5,603 16 2 9,896 3 10 Less credit balance in liquidators' current . account .. .. 2,662 17 7 7 233 6 3 Mortgages of realty .. 0 0 Sundry creditors (preferential)— Deposit accounts (secured against stocks in bond per contra) 3,000 0 0 Trade accounts .. 439 5 5 Interest rates and sundry accrued liabilities .. 873 15 11, 4,313 1 4 Sundry creditors (deferred) .. ■. 19,514 12 7 Profit and Loss Account — Accrued profits as per previous accounts .. 3,583 1 4 Add profit for year ended January 25, 1935 3,027 14 1 6,610 15 5 £131,921 15 7 Dependency: Unascertained claims ranking as unsecured yet to be settled. ASSETS £ s. d. Land and buildings at cost (less depreciation) 16,225 17 7 Sundry debtors —On advances and goods accounts, including unpaid purchase money 50,053 2 5 Stocks on hand and j afloat .. 10,910 16 6 Plant and machinery, motor vehicles, and office furniture and fittings (at cost, less depreciation) . ■ 3,806 16 2 Shares in other companies .. • • 484 0 0 Cash in hand .. .. 20 10 0 , Liquidation account .. 50,420 12 11 j £131,921 15 7 | PROFIT AND LOSS ACCOUNT For Year ended January 25, 1935. January 25, 1935 £ s. d. To salaries and wages .. 3,388 8 7 Interest on overdraft, mortgages, and deposits 1,376 12 1 Depreciation of buildings, plant and vehicles 761 14 6 Repairs and maintenance 146 11 3 Rates and insurance .. 219 2 0 Printing, stationery, Audit Fees, and sundry administrative charges .. 657 18 1 Net profit for year .. 3,027 14 1 £9,578 0 7 January 25, 1935 — £ s. d. By gross profits for year, including interest, commissions, and rentals earned .. .. 9,567 15 7 Transfer Fees .. .. 10 5 0 £9578 0 7 METALS MARKET LONDON, February 14. Feb. 13. Feb. 14. £ s. d. £ s. d. Copper—- ■ Standard, spot 27 1 9i 27 5 7 J Forward . . 27 6 10J 27 5 7J Electrolytic ..30 0 0 30 10 0 to .. .30 10 0 30 12 6 Wire bars .. 30 10 0 30 12 6 American electrolytic: 9 cents per lb. Load— Spot .. 10 o 10 :> 9 Forward . . 10 7 C> 10 10 0 Spelter—fe'pot .. 11 JS 0 11 18 n Forward ~. 12 2 0 12 3 0 Tin— Spot 229 7 6 227 12 0 Forward .. 225 7 0 223 17 t> Silver— Fine, per oz. .. 24 7-lGd 24gd Standard, per oz. 26gd 26 9-16 d Have you anything to sell—Do you wish to buy? If so, a small advertisement in the classified section of "The Press" will be all you need. 12 words Is, three insertions 2s 6d. —6

MIXING BELL HILL WASH-UP The result of the Bell Hill wash-tra was 19oz 17dwt WORKSOP EXTENDED RETURN The return for the week <rl the Worksop Extended Gold Dredging Company was 730z lOdwt for 121 hours' dredging; 9200 yards veca handled. GOLDEN DAWN The return for 12 working days ending February 6 was £1075 from 303 tons of ore; gold valued at £7 2s-am ounce. GOLDFIELDS RETURN ; PRESS ASSOCIATION" TELEGBA3.* DUNEDIN, February 11 The secretary of the Gcldfieids Dredging Company, Ltd, reports that the return for the week ended February 15, was 21oz lOdwt for 123 hours' dredging. KING SOLOMON :PBESS ASSOCIATION TIT.WJ4V I INVERCARGILL, February 15. The wash-up at the King Solomoa mine this week amounted to 990* ldwt. MAHAKIPAWA REPORT The report for the period ending February 15 is as follows:—The leading face south was advanced seven feet in poor grade wash. The bottom has risen up to four feet in \he . face here, and is quite smooth. Development work was continual throughout the week on the arch toie to connect present workings with the Golden Gate. This drive has now holed through to the Golden Gate workings. The drive •is apparently still in wash with the bottom underfoot. We are leaving the bottom two feet of the drive in, for the last five feet, to form a dam to divert the water to the pump in the Golden Gate shaft until we have prospected the low ground over which we can pass. Later on all the water can gravitate through this arch drive to the main shaft, and be lifted by the one pump. Mr SI. R- Templin (chairman of directors of the company) and Mr J. D. Renton are making a visit to the mine this week-end. PROSPECTING CONDITIONS IN FIJI STRICT GOVERNMENT REGULATION (UNITED PRESS ASSOCIATION —BY ELICTHIC TELEGRAPH—COPYRIGET.I (Received February 15, 8.40 p.m.) SUVA, February 15. An official statement has been issued that the Fiji Government will assist all genuine mining enterprises. It intends to prevent any speculation which would tend to damage the good name of the colony. Present prospecting licenses are fixed for a term of two years and cannot be renewed. It is proposed to amend the law on the issue of licenses in such terms as the Government may think fit. Licenses are not transferable and the holder has a prior right to a mining lease, but the lease will not be granted unless there is evidence of gold in payable quantities, and the applicant commands sufficient working papital. The Government states that of 16 holders of prospecting licenses in Tavua, one prospector has so far proved values sufficient for the issue of leases. All existing Tavua licenses will expire in June, and are not renewable and cannot be transferred except with the consent of the Government. A Government warning is issued that the parties should ascertain conditions before concluding agreements and that no trafficking in applications for prospecting licenses will in any circumstances be recognised. The Government will consider the allotment of Tavua areas after June ?. The Government intends to prevent the get-rich-quick type of speculation, and promoters are reminded that the eonditions of companies must be approved by the Government. The Government is of opinion that no-liability companies are undesirable. MINING COMPANIES REGISTERED The registration of the following new mining companies is announced by the "Mercantile Gazette":— Cumberland Prospecting Company, Ltd., Registered December 21, 1934. Capital: £4OOO in 4000 shares of £1 each. Subscribers: Reefton—H. W. Gebbie 25, J. B. Discaciati 25. G. JDick 25, D. Panckhurst 25, A. P. Watson 25. Waiutu—P. O'DonneU 20. JE. Allen 25. Objects: Goldmining and incidental. Bierwirths Gold Reefs, Ltd. Registered January 31. Capital: £4OOO in 4000 shares of £1 each. Subscribers: Hokitika—R. Ford 630. P. H. Renton 440, C. Caliari £2O. F. Preston 40. P Renton 25. W. H. Stouforth 20. AStuart 50. G. M. Elcock 10, J. Schroder 10. F. McGregor 10. Ross—W. O. Bicrwirth 2365, W. J. Wallace 10. G. P. Rea 20, J. E. Minehan 10, E. D. Davis 80, J. K. McKey 100, J. Manera 10, H. J. McMullan 20. G. M. Davis 10, E. Pethig 20, J. Pethig 30. P. O'Donnell 10. T Vincent 10. J. W. McKirdy 10. Kokatahi—P. S. Heslan 40. Objects: Gold mining and incidental Bendigo Zone Gold Mining Company. Ltd. Registered January 28. Office: Cooks Buildings, Queen street. Auckland. Capital: £2OOO in 40,000 shares of Is each. Subscribers: Auckland—A. J. Pearce, E. Marshall. W. F. MeCallum, L. M. Browning, M. E. Heath, W B. O'Reilly. R. G. Binmore. 500 shares each. Objects: Gold mining etc.. and incidental. Gold and Water. Ltd.. Registered a< I a-private coniDany February 1. Cilice: iDilworth Building. Queen street. Auck- : land. Capital: £IOOO in 1000 shares of £1 each.

CANTERBURY MARKETS IMPROVED DEMAND FOR OATS (BT OTTR COMMERCIAL IDITOB ) Friday Evening. Markets continue firm, with an upward tendency in some classes of small seeds and oats. Potatoes provide a minor exception. The Auckland enquiry has slackened owing to the arrivals in that centre from all parts , of the North Island. This has weakened the prompt market in that centre, and at the moment little interest is being taken in the southern market. The rainfall in South Canterbury districts is causing o'ffers from that quarter at a slight weakening on a few days ago. Quotations are about £5 15s f.0.b.. s.i., for May-June delivery, or £4 7s 6d on trucks. The small seeds market is firm at mid-week advices. Cocksfoot is worth B£d to 9d per lb on trucks for Akaroa and 8d to SJd for Plains. Italian and perennial ryegrass maintain the previous quotation of up to 3s a bushel on trucks. Odd lots of partridge peas are being offered by farmers, the quotations being 4s to 4s 3d a bushel on trucks. Reports from the south are that the fescue and dogstail crops will be very light in quality and small in bulk. High figures are mentioned for undressed fescue, although no definite quotation is available. The market has firmed during the week for oats. Algerians, doubtless for sowing for green feed, are quoted at 2s a bushel on trucks. Heavy A grade Gartons are worth to 2s 3d on trucks and B's to 2s. There is no enquiry so far for chaff. Fowl wheat remains firm, values being 4s to 4s 3d for prompt and 4s 4d for spread delivery. Quotations The following are quotations, for new season's produce paid to farmers on trucks, free of commission, sacks extra, except where otherwise stated:— Wheat —New season's interim payments, for January-March (inclusive): Tuscan 4s. Hunters 4s 2d, Pearl and Velvet 4s 4d: fowl wheat. 4s Id to 4s 2d prompt, 4s 3d March-September, f.0.b.. s.e. Oats (new season's)--Algerians. 2s a bushel. Gartons: A's 2s 3d, B's 2s. .Onions —£7 a ton for prompt Potatoes—£4 7s 6d a ton. ' Perennial Ryegrass—To 3s a bushel. Italian Ryegrass—To 3s a bushel. White Clover—6'd to BJd per lb. Cocksfoot—BJd to 9d for Akaroa; 8d to 8' 3 d for plains. Flour—£l2 12s a ton, local; £ll 17s shippingBran—Large. local. £5; shipping, £4 • ton; small, local. £4 10s. Pollard —Large, local, £6; rhipping, £5 ss. DUNEDIN (PHSSj association- telegram.) , DUNEDIN, February 15. During the week samples of milling •wheat have been coming forward from southern districts, including Taicri and P<alclutha, and also from Central Otago. The quality is very good, and better than the bulk of live wheat which is being threshed in Canterbury. Millera are readily accepting all lines, and are also taking delivery of north-ern-grown wheat. The quantities coming to hand are heavy, and deliveries are much earlier than usual owing to the dry weather conditions which havp prevailed. Most growers are anxious to get their wheat away, and indications point to a congestion at millers' sidings, owing to the wheat coming in from all districts at one time. The fowl wheat market is firm. Nearly all offerings of wheat are being accepted by millers, and this is causing a shortage of fr-'-vl wh< 3 at. Stocks locally are on the light side and 4s 6d a bushel, sacks extra, ex store, is the ruling quotation. There is little life in the oats market, practically no enquiries being received for shipment; but on the other hand supplies are on the short side. It is not expected that there will be a great deal of oats available from farmers this season, owing to the dry weather conditions affecting crops. Growers are inclined to ask higher prices for any lines they have for sale, but merchants are not keen to follow the market in view of the absence of business in this cereal. Nominally A Gartons are worth 2s Bd, f.0.b., s.i.. with B's 2s and Is 9d respectively, on trucks. Where there is a short railage better prices than those quoted •would be paid to the farmer. The chaff market is firm in sympathy with the firmer tone for oats. As most of the farmers are busy harvesting it is difficult for the present to secure supplies from the country, | and most of the requirements for the local market are coming from Canterbury. The demand locally is confined to lots ex the store, the value being £5 a ton, sacks extra. An occasional truck load is sold for delivery ex truck at- £4 15s. It is too early yet for the main crop of potatoes to come on the market, but indications point to a shortage in the returns. A fair amount of forward business has been transacted, most of the sellers being from South Canterbury. It is reported that crops in Ihis locality are fairly good. Sales for forward delivery have been made on the j basis of £5 10s a ton. and in one or J two instances more than this pricp j has been realised for deliveries in May and June. A heavier demand for seeds of all Varieties has set in from the North Island. This has been caused by the dry conditions there, enabling burning operations to be carried out, and recent rains have now encouraged farmers to pay attention to sowing. The demand from the North Island has come to a bare market, with the result that prices are firm for immediate delivery. This applies particularly to cocksfoot and ryegrass. Samples of ryegrass threshed in this district are of good quality, and for good, clean seed 2s 9d a bushel is being paid. In one or two instances higher prices have been paid for exceptional quality. PRODUCE MARKETS LONDON QUOTATIONS (WITTD PTIUSS ASSncIATTOK —ny ri-TA'TriTf TELEOKAnr— corYiur.iiT.) LONDON. February 14. Flour is qu'etlv steady—Australian, ex Store, 18s 6d to 19s. Oats, peas, and beans are quiet. MELBOURNE SALES MELBOURNE. February 15. Wheat—2s lljd, 2s llid. Flour—£7 15s. Bran— £4 15s. Pollard—£s. Oats—2s sd, 2s s|d. Barley (English)—2s 10cl. 3s. Maize—3s 6d. Potatoes—£ll 10s. £l2 10s. Onions—£B 10s, £8 12s 6d.

WHEAT MARKET CARGOES, PARCELS, AND FUTURES LONDON AND LIVERPOOL QUOTATIONS (UNITED THXSS ASSOCIATION— BY "ELECTRIC TELEGRAPH—COPYRIGHT.) LONDON, February 14. Wheat cargoes are steadier and in better demand. Parcels are steady, trading quiet. Futures are quoted:—Feb. 11. Feb. 14. London la quarter) s. d. s. d. February .. 19 8 19 10 April .. 19 8 19 9£ I June .. 20 5 20 6 Liverpool (a cental) I March .. 4 7jJ 4 8 JVlay .. 4 108 4Hi July .. 5 0:j 5 11 Spot trade is slow and has an easier tendency. Australian, ex-ship, 24s 6d, 25s 9d. | CHICAGO FUTURES I NEW YORK, February 14. Chicago futures arc:-- ; • Cents a bushel. i Feb. 13. Feb. 14. I Mav .. -.97 P6g j Jul'v .. ... September .. .. 80.1- 87? ! New York (cash) .. 116", 116J i ADVISORY COMMITTEE i I MEETING POSTPONED LONDON, February 14. The chairman of the Wheat Advisory Committee announces that pending clarification of the position between the four overseas exporters, no useful purpose can be served by a full meeting on March 5. Accordingly he lias postponed the meeting and asked Argentina, Australia, Canada. i and the United States, to meet on j March 5 for the purp'ose of seeking agreement regarding the extension of or amendments to the wheat agrce- ! merit. DAIRY PRODUCE MARKET SLOW Dalgety and Company, Ltd., have received the following cablegram from Samuel Page and Son, dated February 14:— Butte'---Market very slow. Danish 965; finest New Zealand, 89s to 90s: finest Australian, unsalted 92s to 935, salted 88s to 89s; g.a.q.. 86s to 89s. Cheese—Market slow. Quotations: New Zealand, white 48s 6d to 495,- and coloured 40s to 48s 6d: Canadian?-spot, while and coloured 56s to 60s. A. S. Paterson and Company. Lid. have received the following cable advice from their London principals Messrs J. and J. Lonsdale and Company (London). Ltd.:— Butter—Market quiet, buyers inactive easier. New Zealand, Sos to 89s;' Australian. 88s to 89s; Danish, market weak. 935. Cheese—Market slow. White cheese. 48s 6d. coloured 48s to 48s 6d. The National Mortgage and Agency Company of New Zealand, Ltd., advise having received the following cablegram from their principals, Messrs A. J. Mills and Company, Ltd., Londoßutter market is quiet. Finest. 88s to 89s, firsts 87s to 88s: Danish. 116s; f.0.b., 965; Australian, 88s tc» 89s. Cheese market is steady White 49s to 49s 6d, coloured 48s 6d to 495; Canadian, white 62s to 645. coloured 58s to 60s. BUTTER AND CHEESE LONDON QUOTATIONS LONDON, February 14. Butter is quiet after activity earlier in the week. Quotations: . Danish —114s. Choicest Salted New Zealand—Bos. Unsalted Australian—92s. Cheese is firm. New Zealand—Coloured and white, 49 s Australian—Coloured, 465; white, 475. POULTRY AND EGGS MACFARLANE AND COMPANY'S REPORT Macfarlane and Company report the egg marekt as follows yesterday:— First grade, Is 2d a dozen; second grade, Is Id a dozen; duck eggs, up to Is 2d a dozen. RED COMB EGG AND POULTRY COMPANY The Red Comb Egg and Poultry Company report that for their poultry auctions on Saturday and Wednesday supplies came forward in greater quantities than in the previous week. Boilers comprised the majority of the pennings, but in spite' of the fact that greater quantities were offering they sold well under keen competition to a large attendance of buyers. Enquiries are still coming forward for yearling hens, those which were offered returning satisfactory figures to sellers. Pullets, heavy chicken, heavy duckling, and turkeys also sold well. . The average prices realised for poultry during the week are as follows per P Roasting chicken, light to ss, medium to 7s 6d, heavy to 9s 6d; hens, light to 3s 6d heavy to 5s 6d; ducks to 4s; duckling to 6s 9d; goslings to 6s 6d; pullets to 10s; turkeys lOd per lb live weight. , , Eggs—Tested, machine graded, guaranteed fresh: First grade, Is 2d; second grade. Is Id. EGG MARKET DULL LONDON, February 14. Eggs arc dull; 13Vs. 7s 9d; fourteens, 8s Od; fifteens, 8s 6d, 9s; sixteens and seventeens, 9s, 9s 3d.

FRUIT MARKET CHRISTCHURCH The market report for the week ending February 15 is as follows: Vegetables—Fair supplies of vegetables, with the exception of cauliflowers and cabbages, have been available throughout the week, and ruling pcices are as follows: — Cauliflowers: Local supplies were very scarce, realising from 2s to 6s a dozen. The first consignment from the south this season came to hand during the week, and realised 14s a sack, meeting with' a strong demand. Cabbages: Supplies very scaixe, realising up to 6s a dozen. Lettuces: Best quality Is to Is 6d a dozen, others to to Is. Cucumbers: In .over-supply, realising from 4d to 6d per box. Potatoes: Plentiful supplies available, realising from id to 3d per lb. Green peas: Best quality 2s to 2s 3d a peck, others Is 6d to 2s. Onions: Best quality 4s 9d to 5s a sugar bag, inferior 3s Gd to 4s. Beans: Plentiful supplies available, realising Id per lb. Carrots: 2s to 3s a sugar bag, according to quality. Root varieties: 4d to 9d a dozen. Marrows: Supplies plentiful, realising from Is to 3s a dozen, according to quality. Pumpkins: £d to Id per lb. Garlic: 4d to 5d per lb. Celery: Best quality 6s to 8s a dozen, others 3s to 6s. Swedes: Local 2s a sugar bag. Fruit—Apples: Steady supplies coming to hand, ruling values are as follows: —Gravensteins 7s 6d to 9s 6d a case; Cox's Orange, up to 10s a case: Worcester Pearmains, 4s to 5s 6d a case; cooking apples, 4s 6d to 6s a case. Tomatoes—A few extra choice hothouse realising lid to 2d per lb, outdoor. best quality Is to Is 4d a case, inferior 6d to Is. Peaches: Extra choice up to per lb, others lid to 2d. Nectarines: Extra choice up to 3£d per lb, others Id to 2d. Plums: Choice dessert 3s to 4s a case, others Is 6d to 2s 6d. Grapes. Extra choice Is to Is 4d per lb, others 8d to 10id. Imported Fruit—Supplies of Jamaican oranges are available, realising 26s to 34s a case, according to counts. Shipments Arriving from Overseas — A shipment of Samoan and Niuc bananas, cx Maui Pomare, is expected next Wednesday, and also a shipment of Jamaican oranges about the same date. DUNEDIN irr.E.iS ASSOCIATION TEI.F.fiRAM.) DUNEDIN, February 15. Auctioneers have found it difficult to make sales during the week. Inferior grade lines of stone fruit and tomatoes have been particularly hard to sell. Many lines have been auctioned at values which could not show growers any margin of profit; in fact, they will probably be on the debit side when their returns come to hand. The hot weather has resulted in heavy supplies of nectarines and peaches, but retailers are only buying in small quantities, as they find the fruit is not keeping. Brown rot has never been so prevalent, and many lines which arc in sound order one day have collapsed the following day. In pddition to this large quantities of fruit arc being sold by the case, consequent on the cheap prices ruling, and this is also affecting the business of retailers. Stone fruit of choice quality has. however, a good demand at payable prioes. There was a better demand at the end of the week for greengages and nectarines. Apples were offering more freely. Cox's Orrnge Pippins are now arriving from the Nelson district. Tomatoes are selling at low rates. The season is not expected to last long, as most lines on offer arc on the smpll side, consequent on the dry weather. Bon' Chretien pears are plentiful, with low prices ruling. Small lots of raspberries are still on offer, but the demand for locally-grown potatoes has improved. | CASTLEROCK ROMNEYS dispersal sale Details of the dispersal sale of the famous flock of Castlerock Romneys on Wednesday show that the big catalogue of sheep met with keen competition. The sale created wide interest, the attendance being estimated at 1500, with buyers present almost from Auckland to Bluff. The sale was an unreserved one and bidding throughout was very keen. The auctioneers were Messrs Wright, Stephenson and ComP3 The flock dates back to 1875, when a selection was made from the wellknown stud of the late Dr. Webster. For the last 30 years the manager, Mr Roxburgh, has concentrated on evolving a type of utility, quality, and of great constitutional strength. The (lock was strengthened by the introduction or English blood in 1906 from Mr A. Finn and Mr A. Amos, of Kent, and by the purchase of sheep from Sir William Hunt and the late Mr Alfred Matthews. The success of Castlerock Romneys in the show ring has been outstanding. Mr Barnhill was always an enthusiastic supporter of agricultural and pastoral shows and was a prominent exhibitor from the inception of the Southland Association's fixture. A record taken of Romney successes at shows, kept from 1904 till 1920, disclosed that 25 championships out of a possible of 32 were gained by Castlerock Romneys, and that the prize winnings, exclusive ,of championships, totalled 195. At the 1929 Royal Show at Invercargill, the last occasion on which major honours were sought, the flock achieved signal success, including the championship for aged ram and the MacDougall and Robertson Cup for the best ram of any breed at the show. Not only have Castlerock Romneys been keenly sought from one end of the Dominion to the other, but many shipments have been made to countries abroad, particularly to South America, where the flock has won a high reputation. The following was the offering:— 210 Flock rams, one-shear. 205 Flock ram lambs. 42 Stud rams. 25 Stud ram lambs. 630 Stud ewes. 200 Stud ewe lambs. Flock rams commenced on a high level, the opening pens being purchased by the Wairarapa runholder, Mr A. McDonald. The price level for flock rams remained high throughout. One-shear stud rams produced keen competition, but there was considerable fluctuation in prices, although the average prices exceeded expectations. Several of these sold at over 50 guineas and one made 65 guineas. There was also keen competition for older breeding rams, some of which, considering their age, made remark-' able prices. A five-year-old ram realised 42 guineas and a four-year-old 62i guineas. Except that some of the single oneshear ewes sold at prices ranging up to 12 guineas few of the pens of young ewes reached double figures. Nevertheless the prices were above expectations as the values were maintained right through. Two-shear ewes were probably the best value of all, as there seemed to be a lull in the bidding at that stage of the sale. • ' Keen competition was revived as soon as the three-shear ewes entered the ring and these were sold at very good prices. In the 25 selected ram lambs great interest was taken, and though only a few months old they sold at up to 30 guineas. The average for the 25 was over 18 guineas. Both for ram lambs and ewe lambs sold in pens of five there was keen competition and well-sustained prices to the end of the sale.

Top price, as already reported, was 200 guineas, for a ram purchased by Mr D. Ross (Wanganui).

WOOL SALES . SMALL RISE IN PRICES PREDICTED j ' BRITISH ANALYSIS OF EVIDENCE (Received February 16, 12.20 a.m.) LONDON, February 15.. The "Financial News," reviewing wool prospects, feays a careful ina up of evidence indicates that the heavy fall in prices in 1934 will be replaced by a small, gradual rise in '1935. BRADFORD TOPS LONDON, February 14. Bradford business is quiet. Quotations are as follows: — Jan. 24. Jan. 31. Feb. 7 Feb. 14. d. d. d. d. 70's .. 28 27i 26 26J 64's .. 25 25 24i 24 i 60's 23 i 23 23i 22J 56's ..184 181 184 18 50's .. 14 i 144 141 14 46's .. 10 10.7 lOi 10^ 40's .. 9:; 9.i 9 4 94 MELBOURNE SALES MELBOURNE, February 14. Animated bidding at the Melbourne wool sales resulted in a 90 per cent, clearance of the 8592 bales offered. The top prices were: Merino I'd", the highest of the present, scries, and comeback 163 d. BRITAIN AND FARMING DIFFICULTIES IN WAY OF REORGANISATION. (PIXESS ASSOCIATION TEt.EOK.VM.) WELLINGTON, February 15. On his return to-day by the Rangitiki after 15 months as an exchange lecturer in economics at Leeds University, Mr 11. R. Rodwell, ot Auckland, said a big bid was being made by Britain to engage in farming, but great difficulties were in the way of reorganisation, largely because of tradition and custom among the mass of the farmers. Much more development of British farming could be expeeled, especially in butter and milk, also the beet sugar industry. Quota effects were quite apparent in keeping with faim expansion. He thought it possible that a quota would be applied to New Zealand butter. STOCK SALE AT MET'IVI'N The fortnightly stock sale was held in tlio Methven ealo yards oil Thursday, before a n-prescntativo attendance of tut atoc k buyers and farniera. 'J he yarding consisted mostly of fats, lor which there was a ynod Bound ti.ilu. Tlio store Mieep ollcrcd comprised mostly iambs. 'This part of the sail! KaS 1101 very wrn. 1 irealised Rood prices for every eln*b. recorded were us follows: — Fat- ijamljs —Unc huudtccl and lhirtv-iotu at -Jls Id, 97 at 19a lud, .139 at 20m Id. 43 iit JTrf Bd, 03 at 21a 7d, 99 at 'Jin Id. 31 at 19s 7d, 70 at -0a 7d, 33 at '2oa lOd. 114 at l,v-> 1 ud, '24 at 18a Jd, 48 at '2oh lOd. 64 at K-\-i Id, 75 at 18s 4d, 84 at '2oa 7d. li.> ut 19s Id, :si at 17a Od. L-'al i-.wea- I'oune-n at Ms Tl, 21 at, 12.' 2(1 ~2 at !)-'• 7d, 7 ut lis '2d, 82 "t lls lllil, jV nt 17m lud, 20 at U» Id. JO at Jla 10 l, Ml at. ,L2a lid, 31 »l l-« lod, 4 at, )1* Cd, tj at. 10s Od, I. at 10a Od. l-'at. Wethers-Five at 20s Cd, 1 at 2ta 7d, 1 at 21a Id. . Store Sheep--Ono hundred mixed sex three-.lUarterbred lambs at 158 1(I<1. 289 at 15s '2lO rape owes at Os !)d, 45 lamb? Nt Ss 5.1. 18 i nil lambs at 4s lOd. 88 mixed sex lambs at Ills Od, '2:5 lambs nt J'2s 3d. Cattle—'Two eowa at £2 10s, J bull at ;i bull calves at lis, It heifer calves at' i'l 9s, '2 fat heifers at i."2 ss, 3 at i,' 3 10s, '2 cows at £4. l'i«a—Two weaners at 10a, 2 at 9a. 8 ut 7a Cd, 0 at 15s, 4 nt Us fid, '2 at lis, 2 at 10s, 2 nt 13s Cd, 3 at 13s. 0 at lfis, 3 stores at 255, 4 weanera at Bb, 2 at 8s Od, 3 nt Ba, 0 at 15s, 6 at 15a. 2 at 20s Od. GERALDINE STOCK SALE There was a fairly hr.ne viirdin- at the fortnight ly liernldiuo stork sale, and several splendid lines of fat, lambs realised good prices. Values wero us follows: Fat Lambs—F'.ighty-nino ut,lßslod. 3 at, 30b, 18 at 22b 4d, 53 at 17s 7d, 23 at 103 7d. 30 at 20s, 3:5 at '22s 4d, 83 at 18s id, 53 at 18s 7d, 104 ot 19s 4d, 08 at 21a 7d, 7 at 19a lOd, ft at 18s id, 7 at 183 id, 16 at 18s id, hi at 17a Id, 6 at 18a Id, 10 ut 22s lOd, 1 at 18s, 19 at '2os Od. 17 at 2Ub 7d, 20 at 21a 4d, 47 at l'.)a lOd. 3a at 18s 1 Od, 30 at 18s 7d, 21 at 17s lOd. 58 at 193 4d, 31 at 17s Od, 38 at 21s lOd, 2u ut 19b Id, 40 at 21s 4d, 54 at 21s 7d. 70 ut 20s 7d, 147 at 19s 4d, 33 at 21s id, 101 at 19a 4d, 15 at 20s, 28 at 18s lOd. 1 at 25a 4d, 18 at 18a lOd, 100 at 15s Cd, 10 at 15a id' G at 18s 7d, 7 at J Bs, 1 at 153 Gd. 30 at 18s 4d, 17 at 18s lOd, 15 at 18s id, 13 at 19s Id, 14 at 13s 7d, 42 at 20s id. 33 at 28s lOd, 75 at 20a 9d. Fat Kvvcs—Nineteen at 13s Id. 5 at 13s Id, 15 at lis 7d, 12 at 13s Id, 3 at 13b Id. 29 at 13s id, 30 at 13b 4d, 6 at 16a Id. 10 at 13a Id, 14 at 13s id, 17 at 13s 4d. 11 at 13a Id, 150 at 17a lOd, 5 at 13s Id. 9 at 13s Id, 10 at 13a lOd, 22 at 3b 6d. 40 at 9a 6d, 7 at 10s Cd, 11 at 9s, 16 at lis id, 5 n,t 13s Id, 17 at 12a 7d, 13 at 12a 7d. 22 at 9» 10d, 52 at 12s Id. 41 at Us 10", 45 at, 12s id, 20 at 3s Id, 10 at 12s 10d, 5 at 13s '2d. Pat Wothers-Slx nt, 19s Id, 13 at W. 9 nt 19s lOd, 2 at, 23s 7d, 1 at 21s id. » ot 15fl, 3 at 20s 4d. Store Sheep—One hundred lambs, at las 2d 123 at lis 9d, 147 at 15a Cd. 50 at 1-s. 4U at 15s sd, 10 at 17a, 122 at 14s 10d. 60 at Us 3d, 39 at lis 7d, 151 at Ws 9d. 119 at 14s Id, 12 ewes at 12s lOd, 6 at 12s 10d. 7 at 12s lOd, 82 at Us 2d, 90 at 10s 9d. 83 ot 4s 3d, 17 at 12s 7rJ, 2 at 10s id. 7 at 12s lOd, 8 at 12s, 6 at 12a Bd, 38 at 12s 7d. 1 at Bs, 39 at 12s lOd, 5 at 12s 7d. 10 at Us 9d, 30 at 12s lOd, 21 at 12s 7d, -0 wethers at 14s Id. Cattle—One cow at £1 7s 6d. l'igs—Two pigs at 18a. OXFORD MARKET At the Oxford fortnightly sale on Thursday, there was an entry of about 2000 sheep. The bulk of the entry was fat lambs. All lines wero cleared at satisfactory- prices. Best fat lambs made from 21s to 238 6d, medium fats 19s to 20s 6d, hent lambs 15s to 183, fat ewes 9s to lis. store lambs 8b to 9a 6d, aged ewes 3s Ud. Store pigs made up to 275, bipr weaners 12s to 14a, and small 7s Cd to 10s. PROPERTY SALES Messrs Ford and Hadfield, Ltd., report having sold on account of the trustees in the estate of Mrs A. Logie, a residential property comprising a seven-roomed dwelling and half an acre of land, at 217 Lin woe il avenue, to Mr Marriott. —8 Messrs Tonks, Norton and Company, Ltd., report having sold a property at the corner of Gloucester street and Madras street, comprising a section of 42 perches, together with the hall occupied by Toe H, to Messrs L Simpson, <U a satisfactocx figure-, —8

GROCERY TRADE PRICES AND PROSPECTS Business in the wholesale grocery trade during the week has been steady, and well maintained in volume. There have been no price alterations of any consequence, and buyers are operating more freely now than they have done for some time. Markets on the whole appear to be in buyers' favour, and advantage of this is being freely taken. Goods for Easter trade are going out well against orders in hand, and trading this Easter is expected to sur- j pass that of last season. i Sugar There is nothing to report in the sugar market. The demand at present is very heavy, but supplies are available to meet it. | A steamer from New York recently [landed in Lyttelton and Dunedin several parcels of American sugar, but these landings have so far not affected I and they are not expected to do so.' Sultanas The Commonwealth Dried Fruit Export Control Board has advised its New Zealand agents that it is expected that the balance of sultanas on hand, being last season's fruit, will be sent off to London very shortly, so as to clear the decks for the new season's crop, which is expected to be in the packing houses next month. If any buyers require immediate stocks they should order at once. New season's prices are not out yet for sultanas or currants, but they are due shortly. Tinned Meat One or two lines of tinned meat packed in the north have been revised in price, showing increased costs to the buyer. New Canned Fruits The interest in the canned fruit situation which was so evident when prices were named for New Zealand and Australian pack recently, still continues. Inside three days after the control Board in Australia named prices for new crop canned fruits, London purchases, or orders sent from London, totalled more than 600,000 cases. The pack this season will be below that of last year, when all stocks were cleared out before Christmas. Last season the pack was 1,360,000 cases; this year the board estimates the total pack at 800,000 cases all told. At present some Australian canners have packed all the fruit they had and they are now edcavouring to buy any fruit that they can trace. New Zealand factories" have had a rush of orders, and "oversold" is the position of some lines. There are still available canned peaches, and intending buyers who have not yet operated should not delay consideration of the matter. If New Zealand-packed fruit can be obtained, it offers better buying than the Australian. A mail report from Australia states that very heavy orders for all grades of canned fruit have been placed by merchants there, and some are endeavouring to obfain confirmation of later additional orders. Fear of increased prices is the stimulus that has caused this rush to book. It is evident that there will be an acute shortage very soon of canned fruit in Australia, as if London orders are accepted, then what is left will be insufficient for the nominal needs of the Common-1 wealth. ; Amended price lists have just been I issued Jfor New Zealand packed pie fruits. These prices now are more in keeping with values generally of ordinary canned fruit. The original price list was issued last month and the new list shows advances of from 3s 6d to 4s a dozen on I-gallons, and 3s to 6s a dozen on gallons. Pie apricots which were not quoted before are now available at about 2s a dozen advance on last season's list. JLc;i Another auction was held in Calcutta last week of. Indian teas, when 15,000 chests with export rights were otl'ered. The quality showed end oi the season types predominating, with too much stalky tea. Medium and good grades were in good demand, and sold freely at slightly easier values, but for low grade teas there was a dull market with bids 6 pies to 1 anna below sellers' valuations. Nearly all the offerings of common and low grades were withdrawn. Average prices ruled as follows: Broken Orange Pekoe: common. 7 anna 9 pies; medium, 8 annas; good, 11 annas 6 pies. Broken Pekoe: common, 7 anna 6 pies; medium, 7 anna 9 pies; good, 9 annas. Fannings: common, 7 annas; medium, 7 annas 6 pies, good, up to 10 anna 6 pies. The Ceylon auction last week was for a catalogue of 1,700,0001b, when Broken Orange Pekoes met with a very strong market. Low grade and ccmnnns encountered a weak demand. | Average prices ruling at tin's sale ran as follows:—Broken Orange Pekoe: common, 52 cents; medium, 85 cents fine, 1 rupee 15 cents to 1 rupee 25 cents. Broken Pekoe: common, 49-50 cents; medium, 75-78 cents; fine 1 rupee, broken teas: common, 49 cents; medium, 55 cents. Singapore Markets Singapore advices concerning the market there for ' sago, tapioca, and pines state that prices are steady with a very slight upward move in sago and tapioca. It is rather early yet for much business to be booked for the boat due to leave in April, and meantime, a small amount of business for this steamer is being transacted in Christchurch. Topper Following on last week's report of the financial troubles of pepper speculators in London comes news of a weaker market in Singapore. It now appears very doubtful if the people interested in the pepper cartel in London can carry through. If the pool collapses, then importers here must expect very heavy drops in white pepper values in the very near future. The pool endeavoured to control white pepper only, and forced prices very high for this grade. High prices caused a deflection from white to black pepper, the latter being fairly cheap, and it was the black pepper obstacle that started the trouble in the white pepper pool's camp. Soap It is rumoured that soap prices are likely to advance. Although up to yesterday there was no confirmation of this rumour, it is sufficiently well established to influence buying operations of some traders. One or two lines of toilet soap have been increased by 2s to 3s a gross tablets according to size. Onions The operations of a board in Victoria to inaugurate an onion pool or onion control board will be of considerable interest to local dealers, because if the present embargo on ] fresh fruit and onions is removed by the New Zealand Government, then importers will doubtlessly be faced not with the Australian onion grower's agent but with an onion control board, whose sole object is regulation of price. This, in other words, means increase in price.. A large number of Victorian onion growers have already assigned their crops to the pool now being formed, on the understanding that the pool could finance the scheme, which contained a clause that the pool would advance growers 30s a ton. The pool arranged with the Associated Banks of Victoria to find the money, but' the banks specially stipulated that every financial firm handling onions was to be appointed an agent of the pool if so desired. The pool has appointed only three agents, and so far the banks have not provided the finance to enable the pool to function. Thirty shillings a ton is due to growers in March, and they are now restive as to what is to

FIVE HUNDRED SEEK JOBS STAFF WANTED FOR NEW THEATRE QUEUES FORM IN HEREFORD STREET Five hundred men, women, and girls waited last evening outside a Hereford street office to apply for 15 jobs that will be available at the new Mayfair Theatre. The majority of the men were well dressed and were obviously of type, and most of the girls were also superior. Nearly all of them were unemployed. One observer who watched the throng remarked that it was an indication that unemployment did not exist among the labouring classes alone. The positions advertised were for a projectionist, an assistant projectionist, two cashiers with a knowledge of shorthand and typing, five ushers, a doorkeeper, two female cleaners, a caretaker, a signwriter, and an outdoor publicity expert. For the positions for girls and women, 150 applicants arrived. Two officials of the company spent three hours, from 7 till 10 p.m., interviewing applicants, but of the 500 who waited, only 160 could be interviewed in that time. Many Applicants The position of caretaker or doorman was the most popular among the men, and 52 applicants were interviewed. Ushers who were seen numbered 50, and cashiers 28. Eight men offered themselves as assistant projectionists, but there was only one who wanted a projectionist's job. Twenty-five cleaners were interviewed. The crowd began to collect well before 7 o'clock, the time advertised, and by 9 o'clock there were two queues from the door of the office along Hereford street each way, and there were 200 men inside the building. The women were admitted first, but even among these there was a good deal of pushing and struggling for places of vantage. When the women were admitted, the men showed their eagerness by forming what almost amounted to a scrum outside the door. So fierce was the competition that at length the door gave way, and a sergeant of police was called to make way in the passage for those who wanted to come out. There was no suggestion of disorderliness, but there was desperation after months of unemployment to spur many of the men on. From all Districts Practically every town and district in Canterbury near Christchurch was represented in the throng waiting. There were even applicants from Geraldine. Every sort of trade and occupation was represented. Among the girls, many were shop assistants wanting a change of work. Some of the men, vho were in jobs bringing in only small pay, tried for theatre jobs, which they thought would return them more money. There were many pitiful tales told by men of obviously good education, but unemployment was the burden of their complaint. "I was making £ll a week once," said one, "and now I am after a job at £4. It's better than doing what I have been doing for two years—nothing." More than 300 applicants were turned away, but some will be interviewed this afternoon. The interviewers had a difficult task. They had to make a selection from so much good material, and in any number of cases, the need for a job was pitifully urgent.

happen, and some threaten to go past the pool and sell outside. Applications for supplies made to the pool by unappointed agents have been ignored and orders not acknowledged. This has upset the inter-state trade in onions, and when the last mail left the onion atmosphere was very clouded for the grower and outside dealers. Meantime the pool has set the price at £8 10s, whilst outsiders were quoting £8 5s f.o.b. Nearly everything grown in Australia sooner or later suffers "control" under some sort of a board.

Am't. " paid a Companies. sh'e. j Buyers. Sellers. jApprox. market price. Appro*, market price a year ago. " a aj <a 3 g Div. payable. Keturn on investment at approx. market price. Banks— Australasia Comm. of Aust. Comm. of Aust. (pref.) Com. of Sydney li., S., and A. Nat. of Aus'asia Nat. of Aus'asia (cont.) National of N.Z. New South Wales New Zealand .. Union Reserve £ 5 10s 10 124 3 10 5 •2i 20 1 5 £ 0 4 6 3 2 8 fi 8. 16 19 6 7 9 0 d. 4 G 6 6 8 6 0 £ 8. 0 16 10 0 5 6 6 7 3 10 2 9 8 19 6 10 d. 6 0 0 6 0 11 0 0 £ 8 11 12 0 16 9 17 1G. 12 5 0 6 7 3 9 30 15 2 9 6 10 d 6 5 6 6 0 0 6 0 9 0 | £ s. 13 7 0 17 9 3 17 15 5 17 13 5 6 7 4 4 33 15 2 9 10 4 d. 6 6 0 0 0 0 6 0 0 6 0 £ 71 5 4 5 5 5 5 4 5 10 5 Feb.-Ausr. Oct.-Mch. do. Jan.-July Nov .-May iM ov.-May Nov.-May Jan.-J uly Quarterly A Dec.-J une Jan.-July £ a. d. 3 4 5 3 0 11 4 10 3 15 2 3 0 0 3 18 8 2 17 6 3 5 0 ,N.) 4 0 4 2 15 6 3 16 11 Insurance — National N ew Zealand .. South British .. Standard 7s 1 1 1 1 3 - 9 7 1 3 3 6 4 17 3 14 1 5 0 3 1 3 3 6 3 12 0 3 0 0 18 2 18 3 15 3 2 8 0 9 0 9d 124 2/6 123 May-Nov. Feb.-Aus*. Apl.-Oct. Mch.-Sep. 3 5 2 3 li 5 2 14 11 3 8 11 Loan and Agency— Dalgety and Co. 5 Goldsbrougli, M. i Guarantee Corp. 3s United Building 1 1 0 1 8 5 3 11 0 S 1 0 1 15 8 6 3 o 3 3 3 8 12 1 8 0 G 1 2 6 0 3 10 6 1 13 0 3 0 19 0 6 9 10 5 G 1 1-9 5 May-Nov. Dec.-June Mch.-Oet. Oct.-ApriJ 2 17 11 4 4 11 5 11 1 4 9 10 i ro/xn Meal — Gear ,/j. Kefrig. .. i\.£. Heirig. (con.) 10s Ji 10a 0 0 19 u 3 3 1 0 0 l'J 9 3 a 6 1 2 0 10 0 9 0 G 5 0 18 0 8 10 5 54 „5i June-Oct. Feb. Feb. 3 8 2 5 12 9 5 13 8 Gas — Auckland AUOi.i.lUU (ton.J uinibLtmacii omuociiurcii (.cull. 1 lo-.i 1 lta 0 1 u la 11 i 0 0 ii 1 15 3 1 7 1 0 1 15 o it; G 0 0 9 1 i 0 18 1 9 0 14 6 0 G 0 5'i 0* 6 J iily-Fcb. July-Feb. Aug.-Feb Aug.-Feb. 4 0 0 4 2 G 3 H 6 3 11 7 iamppuig— Huduart-i J arkcr r. U. J Jut. Union (pret.) .. 1 1 1 - 1 - 0 1 17 1 1 1 7 0 6 0 1 13 1 5 G 0 5 54 Sep.-Mch. May-Dec. May-Dee. 2 13 4 4 0 0 Coui — Xutipiri \\'et>i.port 1 IDs 1 i ;i i ■1 u 0 17 1 .: li 0 15 0 15 0 0 10 Nov.-May May-Nov. i 10 10 Breweries— Carlton Now i.ealuud .. olaples 'looileys 'Xootno 1 1 i 11)3 1 1 10 10 a 0 0 Jo a it i ■z l.'i ■l 10 1 12 1 0 2 8 0 (> 0 0 3 1 19 1 7 1 7 2 4 9 0 6 3 7 5 (it 'Ji Oct.-Mch. J an.-J uly Aug.-F'eb. Mch.-Sep. May-Nov. 3 o 5 2 15 5 3 2 G 3 11 8 3 18 9 Miscellaneous— Aust. Glass Beuth and Co. Death & Co. (con.) Untisu '.tobacco Colonial Sugar Burna, I'hilp ■ • Dominion r' ert. uunlop liubuer Flee. Zinc lord.) i.U'o. Zmu'ipret'.) lleury Jones .. Lvauri limber X.Z. Drug Co. Mount Lyell Farm, l-'ertiliser Whit. & Tombs Wilson's Cement 1 1 Is 1 20 1 1 1 1 1 1 25a I 1 oj 103 3 0 1 10 1. IS •10 10 3 J 1 1 0 IS 1 1 1 13 0 10 3 17 0 17 1 M 0 0 1 0 0 G 3 0 0 0 7 3 3 2 1 13 1 IK 11 0 0 18 1 2 1 0 0 17 0 « 1 9 ii 0 3 3 1 1 12 0 8 1 18 11 0 3 2 I 1 0 18 1 2 1 14 1 17 0 1!) 3 10 0 17 0 19 4 5 1 It G G 3 3 0 G G ■1 1) 0 0 :i i) 9 0 0 G 2 10 1 10 0 8 1 17 03 0 2 .13 1 0 1 7 1 15 1 13 0 17 3 16 1 5 0 17 1 7 0 3 3 3 0 0 0 9 3 0 6 6 0 G 6 9 8 8 G Gi 10 3 4 8 3 J n 6 10 Dec.-June Mch.-Sep. Mch.-Sep. March Nov. -May Nov.-May J une Apl.-Oct. Mch.-Sep. Mch.-Sep. June-IJec. J line-Dec. Sep. April Junc-Dec. August Mch.-Oct. Nov.-J une 2 18 6 1 18 5 3 2 8 3 0 li 3 10 2 15 9 5 9 1 3 12 8 4 14 1 4 10 3 17 11 3 15 11 5 5 3 3 10 7 2 IV U \Yherc no approxi unless only one quote mato market is is given, retui'D is worked on mid-market price,