STOCK EXCHANGES

Press, Volume LXXI, Issue 21423, 15 March 1935, Page 13

STOCK EXCHANGES

CHRISTCHURCH YESTERDAY'S TRANSACTIONS Markets continued firm on call yesterday and there was a moderate turnover, with the bulk of the dealings in industrials. The market for shipping company shares was bare. Transactions, exclusive of vestibule business, were:—

Bank Shares Makerua Drainage 41 per cent, debentures, due 1951, changed hands at a:ioo ios. Bank of New Zealand had dealings al 49s 3d and 49s 2d and there were further sellers at 49s 3d, buyers at 495. Reserve Banks had business at £6 10s, market closing £6 9s 9d buyers, £6 10s 6d sellers. Union Bank of Australia changed hands at £8 lis and more were wanted at £8 10s 6d, sellers at £8 12s 6d. Standard Insurances remained unaltered at 72s 3d. New Zealand Insurances moved up to 68s 3d, closing quotations 3d on either side. National Mortgage "B" were dealt in at 31s 3d. Now Zealand Refrigerating flOs paid) were fractionally weaker with sellers and dealings at 8s 9d, buyers at 8s Bd. New Zealand Breweries had business al 51s 6d, market closing Id cither way. Tooths rose to 49s and 49s Id. and more were wanted al 495, sellers at 49s (Id. Dominion Fertiliser were fractionally weaker with sellers and dealings it 225, buyers at 21s lOd. Dunlop Rubbers were steady with buyers and business at 19s. sellers at 18s 2d. Howard Smiths tcum dividend) had business at 14s 6d. buyers staying in at that price, sellers at 14s lOd. Sun Newspapers moved up to 4s 3d and 4s Id, and there were further buyers at the higher price, sellers at 4s 6d. Mining Brian Bonis had dealings at and 'Z]d, market closing 2id buyers, 3d sellers. Gillespie's Beach were a shade stronger at Is Bd. sellers staying in at tlial figure,-buyers at Is 7d. Mahakipawas were firm with buyers and business at sellers at lid. Maori Gully remained unaltered with sellers and business afls 3d. buyers at Is 4id. Rawang Tin were firmer at 7s 7d, sellers staying in at that price, buyers nt 7s 4d. Skippers were a shade easier with sellers and business at 3d. buvcrs at 4-d. Unlisted Stocks Argo Gold were a shade stronger at Is ii-ld, closing quotations \c\ on cither side. Werc's Investment Trust had business at 4s 7d ia\d there were i further buyers at that price, sellers at 4h 9d. Woolworths (Sydney) ordinary | i cum dividend) eased to 88s 6d, market closing 3d either way.

SYDNEY On the Sydney Stock Exchange yesterday, with the exception of Tooths shares, which were in demand, the investment market was slack.

MELBOURNE Huddart. Parker .. .. l 17' (j Mount Lyell .. ~ 018 1 PRICE OF GOLD (BRITISH OFFICIAL WIRELESS.) RUGBY, March 13. Gold, a fine ounce, is quoted:— ■ £ s. d. March 13 ..780 March 12 ..7/76 March 11 ..784 March 8 .. 7 8 3J March 7 .. 7 8 10 March (i ..794 March 5 .. 7 7 104 March 4 .. 7 8 10 March 2 .. 7 6 10£ PRICE OF SILVER LONDON, March 13. Silver (pence an ounce) is quoted:— Mar. 12. Mar. 13. Spot .. 27 3-16 27 5-16 Forward . . 27.', 27 7-16

DOLLAR-STERLING RATES The Associated Banks (other than the Bank of N'ew South Wales) quoted the folloirins dollar-sterling rates yesterday, which *T* subject to alteration without notice: — U.S.A. Canada. dol. dol. Conversion of dollar bills received for collection and sale of dollar drafts and telegraphic transfers . . -i 72 4.78 I'liri-hase of dollar bills t 76 i~2 On a New Zealand currency basis thej» rates are equivalent to;— V.S.A. Cinad». dol. dol. Sellin;,— T.T. *7l .-: :•:; on. si?; "- *-% i Buyini,'— n.l>. 5.55g r..00 i PROPERTY SALES Messrs C. E. Jones, Ltd.. report having sold, on account of Mr Fountain, his fine building site in Severn street. St. Albans, containing 29 perches, to a client. —8

Sales on 'Change £ s. d. 150 Bank of New Zealand 2 9 2 9 8 11 3 2 0, 30 Union Bank of Aust. 100 National Mortgage "B" 1 11 3 300 N.Z. Refrig. (10s pd.) (2) 0 8 9 100 N.Z. Breweries 2 11 6 225 Tooth's Brewery 2 9 2 9 2 9 0 0 200 Dominion Fert. (2) 1 2 0 200 Dunlop Rubber (2) 0 18 0 100 Howard Smith (cum div.) 0 14 6 200 Sun Newspapers 0 4 3 0 4 4 1500 Brian Boru 0 0 2 J (2) 0 0 2>i 200 Gillespie's Beach 0 1 8 200 Maori Gully 0 1 5 500 Mahakipawa 0 0 10.', 100 Rawang Tin 0 7 7 300 Skippers 0 0 5 Sales Reported E300 Makerua Drainage, 41 p.c, 1/8/51 100 10 0 30 Reserve Bank of N.Z. (5 10 0 50 N.Z. Insurance 3 8 3 500 Bria;i Boru 0 0 2\ 100 Standard Insurance .. 3 12 3 UNLISTED STOCKS Sales on 'Change £ s. d. 500 Arfio Gold 0 1 5 J 100 Wcre's Invest. Trust 0 4 7 Sales Reported 50 Woolworths (Sydney), ord. 4 8 6

LATEST Ql OTATIONS N.Z. Government Debentures Buyer s. Sellers £ s. d. £ s. d. 3 A p.c. Ins., 19.'J8-43 3 J p.c. Ins., 1939-43 — 107 0 0 — 107 10 0 3 : j p.c, Ins., 1941 . . 102 0 0 — 4 p.c, Ins., 1937-40 102 12 6 — 4 p.c Ins., 1943-46 105 10 0 — 4 p.c. Ins., 1952-55 no 12 6 110 17 6 4 p.c. Bonds, 1937-40 102 15 0 — 4 p.c. Bonds 1952-55 111 0 0 — 5£ p.c. Ins. (dissented), 1/9/37 — 102 0 0 Other Debentures Booth, Macdonald, 6> 2 p.c, 1937 .. 66 0 0 69 10 0 Banks A/asia. (cum div.) 11 0 0 11 10 0 Comm. of Aust. .. 0 16 1 0 16 3 Comm. of Aust. (pref.) 9 16 9 9 17 9 Comm. of Sydney 16 4 0 16 7 6 E„ S.. and A'. .. 4 17 6 4 19 6 New South Wales .29 17 6 30 5 0 New Zealand 2 9 0 2 9 3 New Zealand ("D" Mort. shares) 1 12 2 1 12 6 Reserve 6 9 9 6 10 6 Union of Aust. 8 10 6 8 12 6 Insurance A.P.A. 1 0 9 _ National 1 0 10 1 1 1 New Zealand 3 8 0 3 8 6 South British 4 13 0 ■— Standard 3 12 0 — Loan and Agency Dalgety and Co. _ 8 15 0 Goldsbrough, Mort. 1 7 6 1 7 9 Mutual Benefit . . —- 0 15 10 Nat. Mort. "A" .. 2 10 0 2 17 6 Nat. Mort. "B" .. 1 11 0 — N.Z. Guar. Corp. 0 5 9 0 5 11 N.Z. Loan & Merc (ord. stk.) .— 46 0 0 Permanent Invest. — 10 10 0 United Build. Soc. (cum div.) 1 2 0 1 2 9 Wright, Stephenson and Co. (pf.) —■ 1 0 0 Frozen Meat N.Z. Refrig. (£1 paid) 0 19 2 0 19 3 N.Z. Refrig. (10s paid) 0 8 8 0 8 9 Southland (cont.) —. 1 18 9 Waitaki 3 0 0 — Woollens Bruce 0 11 0 0 14 6 Kaiapoi (17s paid) 0 14 0 — Kaiapoi (pref.) .. 0 17 0 0 17 6 Coal Stockton (ord.) .. 0 1 6 0 1 9 Stockton (pref.) .. 0 3 10 0 4 9 Gas Christchurch 1 15 2 Christchurch (10s paid) 0 16 8 — Timaru (cont.) .. — 0 6 6 Breweries New Zealand 2 11 5 2 11 7 Staples 1 10 0 1 12 0 Swan 5 12 0 5 18 0 Timaru 0 13 0 Timaru (7s 6d pd.) 0 8 3 0 8 7 Tooheys 1 8 3 — Tooths 2 9 0 2 9 6 White Star — 0 7 0 ■ Miscellaneous Assoc Newspapers — 1 2 s Anthony Hordern 0 17 0 0 17 ? Aust. Glass 2 17 0 3 0 c Aust. Iron and Steel (pref.) 1 2 5 1 3 f Beath and Co. (cum div.) 1 10 6 1 12 t

THE PRESS, FRIDAY, MARCH 15, 1935 . __ T i m.T.rfTl""' A TbTl »KiaflMKll5l MINING DAIRY PRODUCE STOCK EXCHANGES Buyers. £ s. d. Seller,-;. £ s. d. FINANCE AN1 Beath and Co. (Is pd., cum div.) .. 0 8 10 0 10 0 GOLDEN DAWN RETURN DELIVERY OF BUTTER CHRISTCHURCH British Tobacco (cum div.) 1 17 0 1 17 8 ___ —4 Broken Hill Pty. 2 10 11 2 11 6 | Burns Philp (South JVHEAT TRADE IN RESERVE BANK For 12 working days the Golden Dawn return to March 4 was £1480, BOARD REPLIES TO CRITICISM YESTERDAY'S TRANSACTIONS Sea) Claude Neon (Sydney) 2 6 0 1 2 6 9 13 0 AUSTRALIA WEEKLY STATEMENT from 312 tons of ore crushed; gold valued at £7 2s an ounce. The following statement concerning Markets continued firm on call yesterday and there was a moderate Claude Neon (N.Z.) Colonial Sugar .. Consol. Brick D.I.C. (10s paid) Dominion Builders' 2 2 41 5 0 13 0 0 6 2 42 0 6 0 5 0 9 11 the control of the deliveries of New turnover, with the bulk of the dealASSETS AND LIABILITIES MACETOWN DEVELOPMENTS Zealand dairy .produce has been issued by Mr T. C. Brash, secretary for ings in industrials. The market for shipping company shares was bare. Supplies Dominion Fert. .. 0 4 1 1 3 10 0 1 7 6 2 0 INTEREST IN T N.Z. .MARKETING ll'RESS ASSOCIATION TELKGKAM.) WELLINGTON, March 14. The mine manager's report for the week ended March 9 states: The the New Zealand Dairy Produce Board, in reply to a statement made in "The Press" recently by Mr L. Hansen, manager of the Kiwi Dairy Transactions, exclusive of business, were:— Sales on 'Change vestibule Dunlop Rubber . . Electro. Zinc (ord.) Electro Zinc, (pf., ex div.) £ s. d. Havs. Ltd. (15s 0 18 1 1 0 8 0 18 2 12 0 1 15 0 A Gazette issued to-night contains trenching of the Maryborough, porCompany, Christchurch: — 150 Bank of New Zealand 2 9 3 paid) . 1 16 0 . a statement of the assets and liabilitions of the Garibaldi, and All Na"My attention has been drawn to a 2 9 2 Howard Smith 0 14 (i 0 14 in tions lodes, is now nearing completion. statement made by Mr L. Hansen, 30 Union Bank of Aust. 8 11 0, Kauri Timber 0 18 7 0 19 3 ties of the Reserve Bank of New ZeaThe lateral extent of the new shoot manager of the Kiwi Dairy Company, 100 National Mortgage "B" 300 N.Z. Refrig. (10s pd.) (2) 1 11 3 Mason Struthers comi'I'ekoky scheme land, as at the close of business on | has not been determined. This inwhich appeared in "The Press" on (£1 pd.) — 0 16 0 March 11:— formation will be available on March March 12. Mr Hansen says, 'the con0 8 9 Mason Struthers PROPOSED Liabilities £ s. d. 15. when a prospecting tunnel will be laid out to intersect the shoot 100 feet trol of deliveries had a good deal to do with the lower price for New Zea100 N.Z. Breweries 225 Tooth's Brewery 2 11 6 2 9 0 (10s pd.) Natl. Electric — 0 0 7 6 11 0 below the surface. A survey will be land butter,' and he goes on to say 2 9 1 2 9 0 12 0 New Colosseum .. 1 7 9 1 11 0 I . (1) Paid-up capital .. 500,000 0 0 made of the whole of the mines, and that 'the actual control of deliveries N.Z. Drug Co. (cum (2) General Reserve a scheme of future operations designed was left to the London office of the 200 Dominion Fc-rt. C2) div.) — 4 0 0 The propo.'-al of the Australian wheat commission that a compulsory marketin <r scheme should be established, which was the subject of a cablegram , j . mfll'nilV avn i'nFund .. .. 1.000,000 0 0 according to the zones containing the board. 7 'it'is" evident'that this state(3) Bank notes .. 9,134,041 10 0 various pay ore shoots. This will in- ment is made without a (ull kn0 w(4) Demand liabilities— elude the Garibaldi main and subsidi- led „ f tl f t T th manufacture .a) Stale .. 12,325,998 8 7 shoots on the f or in N "w Zealand S? ■ • 4,64 ?480 " 1U Se b ?he U *°™ ?****. cent P 0 f the total quantity <u Otnei .. t,m 5 10 - Ladv -Fair shnnt a nd th« exported is manufactured in six 200 Dunlop Rubber (2) 100 Howard Smith (cum div.) 200 Sun Newspapers 1500 Brian Boru 0 18 0 0 14 6 0 4 3 0 4 4 0 0 2JN.Z. Farmers' Coop. ("A" pf.) .. N.Z. Farmers' Coop. ("B" pf.) .. N.Z. Farmers' Coop. (4i p.c. stk., 1940) 0 17 0 14 82 15 6 6 0 1 83 9 0 5 0 nrintGCi vc.--icicui> niuinjjjp, «n- il carded here as an indication that Aus- '.:>) Time deposits .. — Homeward Bound three main shoots months. Years ago it was apparent to (2) 0 0 2>i N.Z. Farmers' Co(b') Liabilities in curand subsidiary shoots. The whole of the mines will be connected to one everyone, and particularly to the mer200 Gillespie's Beach 0 18 op. (4i p.c. stk., tralia will organise some such system rencies other than. chants handling the produce, that to 200 Maori Gully 0 1 5 1945) 82 10 0 86 0 0 »s operate:.- in New Zealand under New Zealand curmain working level and thence to a ship 75 per cent, of our total export 500 Mahakipawa 0 0 101 O. T. Limited 2 0 0 2 8 0 [he Wheat Purchase Board. The parrency .. — central mill. This work of surveying and designing the scheme will be comin six months would naturally de100 Rawang Tin 0 7 7 Quill, Morris (in liticulars given in the message were (7) Other liabilities 50,280 16 1 press the market for that period. The 300 Skippers 0 0 5 quidation) 0 4 9 meagre, but enough was said to make it appear that Australia may follow pleted by the end of March, at which board, in co-operation with the merSun Newspapers 0 4 4 0 4 6 Total .. 27,716,147 17 10 | period 1 advise the directors to Drochants, agreed to regulate shipments, Sales Reported Taranaki Oil — 0 0 10 the lead of New Zealand. Discussiuu the message yesterday. ceed with the incorporation of an giving the same regularised supply all £300 Makerua Drainage, 41 TauDO Totara TimAssets operating company suitably capitalised, the year round. The quantity shipped p.c, 1/8/51 .. 100 10 0 i be"r (pf., 16s pd.) Victoria Nyanza — 0 18 6 | jilr B. J- Lyon, a member of the Wheat Purchase Board, said that the problems in the two countries were essentially different. New Zealand's exports of wheat were unimportant for the most part, but Australia exported more than half of the wheat that she £ s. d. each month is based on the recom30 Reserve Bank of N.Z. 6 10 0 (8) Reserve-— —. mendations of the New Zealand im50 N.Z. Insurance 3 8 3 Sugar 0 5 0 — (a) Gold .. 3,001,731 0 0 lb) Sterling exchange . . 22,454,687 9 2 (c) Gold exchange — BELL HOOPER REPORT porters of dairy produce in London. The London office of the board, although able to supply valuable informttion which is helpful, does not con500 Briaii Boru 100 Standard Insurance .. UNLISTED STOCKS 0 0 2:J 3 12 3 Wilsons Cement . . Woolworths (Vict.), (pref.) General Industries • 1 8 0 14 6 0 1 1 0 14 3 10 0 15 2 (9) Subsidiary coin 179,073 18 11 The mine manager reports that No. 2 tunnel was advanced 9i feet; total 313 feet. trol the deliveries, as the quantities Sales on 'Change Min n? produced. In New Zealand the idea of control was to even prices among, farmers, the industry being protected from imports by a system of duties. Australia would be an exporting country whatever happened, and the energies of the Australian authorities had been bent toward keeping the wheat farmer on his land. (10) Discountsfa) Commercial & agricultural shipped from New Zealand are delivered to the merchants immediately they are discharged at the ports in 500 Arfio Gold 100 Wcre's Invest. Trust £ s. d. 0 1 5J 0 4 7 Alexander Alexander (15s paid) 0 16 0 16 0 0 0 0 19 3 17 9 bills (b) Treasury and local body bills .. — (11) Advances— (a) To State or State undercjrrcat Britain, .further, the merchants handling consignment produce during BARRYTOWr' GOLD DREDGING the 1934-35 season were all allocated in every case approximately the same quantities and outputs that they received the previous year " At the statutory meeting held at Sales Reported 50 Woohvorths (Sydney), ord. Bank Shares Makerua Drainage 4! per 4 8 6 cent, doAddison's Flat .. Aotearoa Bell Hill Bell Hooper Bell Kilgour Bendigo Gold. .. Brian Boru 0 2 0 0 • 0 0 0 0 1 01 !) 21 0 0 0 0 0 0 0 2 7 1 0 1 7 0 2 0 1 0 111 0 3" GreymoLilh. Mr A. Percy Penman, B.E., bcnlures, due 1951, changed hands at Big River 0 2 2" 0 2 3 Payments to Farmers takings .. — in moving the adoption of the report, MARKET WEAK a: 100 10s. Blackwater 1 6 9 1 12 6 In the last four years, payments (b) To omer pubsaid that the receipts amount to Bank of New Zealand had dealings Bulolo 8 10 0 9 L5 0 amounting to £10,000,000 in cash had | nc auttioruics — rA 49s 3d and 49s 2d and there were Central Shotovcr 0 0 3 been made to Australian wheat (c) Other .. — £66,250. In other words, the whole of A cable message received by Daifurther sellers at 49s 3d, buyers at Charleston . 0 0 5 growers, and under the- recommendations of the commission, up to (12) Investments . . 2,057,539 0 5 the capital of the deferred issue has Reserve Banks had business at Deep Lead 0 1 10 — (13) Bank buildings — (14) Other .assets .. 23,116 9 4 been paid in full and 10s a share gety and Company from Samuel Page £6 10s, market closing £6 9s 9d buyGillespie's Beach 0 1 7 0 1 8 £4,000,000 would be paid this year as on the 125,000 ordinary 20s issue has and Son, dated March 13, slates:— ers, £6 10s 6d sellers. Union Bank of Golconda Hold. 0 1 3 — a subsidy to growers. The Australian . _ also been received. There has been Butter—Market weak. Danish, 86s; Australia changed hands at £8 lis Golden Dawn — 0 2 6 effort was to give a return to the Total . . 27.716,147 17 10 no deduction for commission of any finest New Zealand, 74s to 75s; finest Australian, unsalted, 76s to 73s; salted, 73s to 74s: g.a.q., 71s to 72s. Chcec- Market weak. Quotations: New Zealand, white, 44s 6d to 45s; coloured, 45s to 46s; Canadian, spot, white and coloured, 58s to 62s. and more were wanted at £8 10s 6d, Golden Point 0 0 01 0 0 1 grower of 3s -6d a bushel, f.o.b., and Proportion of reserve the payments made by the Federal (N 0- 8 less No. fi> Government were to build the price to notes and other up to this from the export level. Part demand liabilities 97.29 per cent. of the payment was recovered from a tax on ficur. The Australian method iitaat was much more expensive, said Mr WOOL kind from these receipts and to all moneys paid into the company's office in Australia exchange has been added to enable the amounts due to be paid •into the Greymouth office net without any deduction. The payment to the vendors represents the cost of the acquisition of the land and boring exsellers at £8 12s 6d. Standard Insurances remained unaltered at 72s 3d. New Zealand Insurances moved up to 68s 3d, closing quotations 3d on either side. National Mortgage "B" were dealt in at 31s 3d. New Zealand Refrigerating flOs paid) were fractionally weaker with sellers Golden Sands Goldfields Drcdg. Kildarc King Solomon .. Maori Gully Lawson's Flat Maerewhenua Mahakipawa 0 2 :i 0 0 5 1 0 3 4 0 3 6'i 0 1 41 0 0 21 0 0 1 : ; 0 0 101 0 0 0 0 0 0 0 0 2 3 0 6 3 3 3 9 1 5 0 3', 0 3 0 11 Lyon, but it had to be done, because penses incurred by Alluvial Gold The New Zealand Loan and Merand dealings at 8s 9d, buyers at 8s 8d. Mahakipawa (pf.), so much wheat 'and was useless for fOccania), Ltd. The amount of £1546 cantile Agency Company has received New Zealand Breweries had business 1929 issue Mahakipawa (pf.), 0 1 2J 0 1 4 anything else, and though the pro0s 6d paid to the Crown, was necesa cablegram from its London office al 51s 6d, market closing Id cither ducer was producing at a less, the LONDON SALES sary in order to make your titles freeunder date March 13. giving the marway. Tooths rose to 49s and 49s Id. 1930 issue Mataki lVIinin <r House 0 1 0 1 21 0" 0 0 1 31 1 11" Government was keen to sec him stay hold. The preliminary expenses ket quotations as below:— and more were wanted at 49 s, sellers on his land, and was prepared to pay so that he- might do so. PRICES .MAINTAINED amount to £498 8s 9d, out of which registration fees and stamp duty on Butter---Ncw Zealand, choicest salted, 74s to 75s. at 49s Od. Dominion Fertiliser were fractionConcessions Moonlight Nelson Creek Mossy Creek Mount Lyell Mount Morgan . . Mount Morgan "rights" - 0 0 I Wheat is the most extensively contracts paid to the Government Choo^f" 1 - -4'S In &ft< TY'T'ii'L-r»1 f ,ninl ally weaker with sellers and dealings 0 0 o 0 2 2 61 17 11" 17 8 18 0 grown crop in the Commonwealth, and amount to £421. There was at credit v-- i-jr> i>j t'J>. IMrll KLI (.{LI 1L I. •it 22s, buyers at 21s lOd. Dunlop Rub0 2 0 17 1 17 0 17 normally accounts for more than twoLONDON, March 13. the sum of £18.815 lis 8d. which bers were steady with buyers and 9" thirds of the crop land. Because of the low level of world rates. Australian wheat growers, with their subAt the wool sales 8012 bales were offered, including 346 from New Zealand will be quite sufficient for some time to come. Every endeavour is being made to WAR LOAN STOCK business at 19s. sellers at 18s 2d. Howard Smiths (cum dividend) had business at 14s 6d. buyers staying in at 3 o 1 o stantial surplus for export have for some years been having a very difficult time. The average Australian yield is low. less than 12 bushels tin acre, and production is greatly dependent on the weather. The consumption o; wheat by Australians is remarkably high. and 4384 from Australia. Approxitake advantage of the high price of that price, sellers at 14s lOd. Sun 0 0 11 o 0 2 mately 6625 New Zealand and Australian bales were sold. There was a good clearance to Home and Continental account, the opening levels being maintained. New Zealand sales: Greasy crossbred. The Cliffs, top price 10.1 d, average 7Jd. gold by the equipment of the property at the earliest possible date. Plans and specifications for a modern bucket dredge with a capacity of at least 200,000 cubic yards a month are now being prepared by Messrs F. W. Payne and Son. Mr G. H. Watson is now in California inspecting the latest (BUniKH OKPlflAt, U'IKKLESS.I RUGBY, March 13. British War Loan Slock, 31 per cent., is quoted: — £ S. (i. March 13 . . 106 13 !) Newspapers moved up to 4s 3d and 4s Okarito'""' ■-""■ Id, and there were further buyers at p , Dcvc]op : the higher price, sellers at 4s 6d. ment Mining PC paid) Ula Brian Bonis had dealings at and RawanK Tin 2,d, market closing 2id buyers, 3d sell- Skippers . '. ers. Gillespie's Beach were a shade rnnnr Qhn(n,.n,0 7 28 0 0 15 0 7 0 0 3" 0 0 4 4 : ; 0 30 1 0 0 7 7 0 0 1 3 7 7 0 5 Australia has tried many systems of control of the market, but none cf them seems to have survived for any DAWSON'S REVIEWbucket dredges in Western America, and it is confidently expected as a result of his enquiries that our equipMarch 12 ' .. 106 0 0 March (i .. ior> 10 0 March 5 .. 105 17 6 strongcr at Is 8d. sellers staying in at tlial figure,-buyers at Is 7d. Mahakipawas were firm with buvers and busiflOd paid) Waihi Grand Junction 1 19 10 0 2 0 0 3 1 0 4 11 tmc. It is thought here that the latest ment will b? most modern in structure and gold-saving appliances. There is no reason to alter the forecast that production will commence by the end ness at lOJd. sellers at lid. Maori Waitahu 0 2 4 0 2 7 move may be an attempt to follow the lead of New Zealand, because Australian interests have shown great LONDON. March 13. H. Dawson and Company's report on METALS .MARKET Gully remained unaltered with sellers and business afls 3d. buyers at Is 4id. Rawang Tin were firmer at 7s 7d. sellWorksop Extended 0 2 .6 0 2 9 keenness during the last year to obthe opening London wool sales says: of 1935 or the beginning of 1936 or that the all-in monthly costs will not exceed £1750. while the average motrfhlv vie.'d should be approximately' £8500 with gold at £6 (New Zealand i an ounce. The dredge will treat a large monthers staying in at that price, buyers at UNLISTED STOC :ks tain information on 1he working of the regulations here. The Wheal Purchase Board has been most successful in dentin;; with the industry in the Dominion. "Yorkshire trade generally is sensitive to the ultra-nervous condition prevailing in most commodity and financial circles. ' "The cotton slump docs not improve (UNI'IKI) I'llKSS ASSOCIATION--IIV F.I.KCTIi tC TKLECRAI'll —CUI'YKJCHT.) LONDON. Marrb |3. AI.-M-.-ll 12. .\lMI-.-ll l.-i 7s 4d. Skippers were a shade easier with sellers and business at od. buvers at 4-d. Unlisted Stocks Arjjo Gold were a shade stronsor All transactions in stocks in this section arc subject to a different rate of brokerage from lisied stocks and wool chances. Japanese have reduced ly yardage and should have no diffiA Ion. A ,„„. at Is 5 : ',d, closing quotations id on arc not quoted on the official list. REPORT OF AUSTRALIAN operations; nevertheless there are culty in recovering the gold values ( . m ._ ~ *■ '!• £■ *. (1. cither side. Wcre's Inve.'.lmcnt Trust strong, hopeful factors which may be as disclosed by the bores. The only Nt;Ml(!:inl ''7 I i ' •>- , - ,, had business at 4s 7d ;,nd there were Buyers. Sellers. effective in the near future. The presscontingency is the price of gold. We ''11111.1,11, .s (III 1 _ J J ,•> J J , 1 (| l-'m-x aid -'s r. ■' •■ • , . , i furl her buyers at that price. sellers at £ s. a. £ s. d. COMMISSION ing need is for greater outside support. base all our calculations upon £6 an Ll.'.-l.ulvi,, .. :;| ,, „ ;., ,, „- 48 9d. Woolworths (Sydney) ordinary I Assoc. Motorists' and it is hoped that Russia will return ounce (New Zealand currency), which „.. "', ■ ;;l - >< :n I" o icum dividend) eased to 88s 6d. market Petrol (pf.) .. Argo Gold 1 4 6 1 5 6 to the market at an early date." is the lowest figure at which, with «!'■- I'J'fs .. "1 In o :;i |,i (i closing 3d either way. 0 1 5 0 1 6 MAY NOT BE ACCEPTABLE the present outlook, we believe we should estimate returns, equivalent as American nlo.-l n.lyt ic: :» c ,.„ts ,,,-r Hi. Ben Ledi Carbonic Ice 0 0 41 0 0 0 6 0 7 TO GROWERS SYDNEY SALES it is to £4 16s sterling, whereas to*l><><- .. V) 7 li in III (, r oi-w >'M-il . . 1 ll 1 -J t\ |(| ] -, o Ch.Ch. Press .. 7 7 6 8 5 0 day the price of gold is about £7<2s SliiMfcr — ! LATEST QUOTATIONS Macetown — 0 0 11 5d sterling, which should allow ampl s i"'t .. l l l l :: ill" (i 1 N.Z. Mining Invest. 0 0 8 0 0 11 margin. I-'iii-«-iir<l . . 11 h; ;; 1117 c, 1 Mount Morgan (UTHTED PHSSS ASSOCIATION —BT ELECTRIC Develop. E. Reece. Ltd. (pf.) 0 2 0 0 2 9 TELEGRAPH —COPYRIGHT.) GREASY MERINO MAKES 18d ■■"M 1 " 1 ..21817 C» L'lll ■-> 0 N.Z. Government Debentures 0 2 3 0 2 6 SYDNEY, March 14. Mr B. S. B. Stevens (Prime Minister) says that although he had not had SYDNEY, March 14. At the wool sales 10,156 bales were SKIN SALE SilVer— rd " " Ki 1? " ' J '' J ~ ''' Line, per .,z. . . 'J7 U-Ifi.l L'7 r, -1 f;,1 St«ml:.r,l, pernz. •_•(»•■ •_.-,,,, Buyers. £ s. d. 3.'. p.c. Ins., 19.'J8-43 3] p.c. Ins., 1939-43 Sellers. £ s. d. 107 0 0 107 10 0 Upper Watut (2s paid) Were's Investment Trust 0 5 0 4 10 7 0 0 C 0 4 9 time thoroughly to examine the Wheat Commission's report, he had formed offered, 9279 were sold, and 801 were sold privately. There was very keen . 3 : j p.c, Ins.. 1941 .102 0 0 4 p.c, Ins., 1937-40 102 12 6 — Woolworths (Syd.), ord. 4 8 3 4 8 9 the impression that in some particulars the recommendations did not meet With the approval of the state Government or wheat growers. and general competition for all good wools, which were quoted 5 per cent. above the previous day's rates. Other descriptions were unchanged, and inferior sorts continued to display irAVE'EKLY OFFERING The Christchurch Woolbrokcrs' AsGKRALDINE STOCK SALE The tulUiwiuK ]>riees were renliseil n| Mie stock sale lield at (,'eraldine, on Wednesday:— 4 p.c. Ins., 1943-4G 105 10 0 4 p.c. Ins., 1952-55 110 12 fi 4 p.c. Bonds, 1937-40 102 15 0 4 p.c. Bonds 1952-55 111 0 0 5] p.c. Ins. (dis110 17 6 AUCKLAND Sales on 'Change s. d. r n regularity. Greasy merino made to 18d. sociation reports having held its sented), 1/9/37 102 0 0 N.Z. Insurance 3 CARGOES, PARCELS, AND weekly skin sale yesterday, before the -New Zealand Loan and .Mercantile A K cm \ Other Debentures South British Insurance 4 13 9 FUTURES usual bench of buyers. The following C'omi.any, Ltd.—Fm .sheep: 11 f at cues at Booth, Macdonald, N.Z. Guar. Corp. 0 5 10 ENTRICAN, SIMS AND CO. is the range of prices:—■ Lis J 0<1. .stores: iwo-toolh e«es at M>, 6i p.c, 1937 .. 66 0 0 69 10 0 Renown Coal 0 8 3 I'M f.m. ewes at M s , -j 5 al 7s ;;d j , VJ , Renown Coal (pref.) 0 2 4Sound. Faullv. and eight.loolli L'uinney ci oss i-wva al L'(l. Banks Bycroft, Ltd. 2 10 9 LONDON AND LIVERPOOL • REDUCTION OF CAPITAL d. d. d. d. Pelts .. 2 to 2 v i H Id, ■!:» f. and f. ewes at 11*, -J!) lour tooth eucs al HO.s ;;d, f. ill)( | r_ i;u . cs ;U j^,^ A/asia. (cum div.) 11 0 0 Comm. of Aust. .. 0 16 1 11 10 0 0 16 3 Farmers' Trading Farmers' Trading (B pref.) 0 7 4 0 15 0 QUOTATIONS Crossbred: »— (. H ()-1(10 [ 11 OVYOS ill —(iS 'J(i, 'J.'J, ;it li I S Utt ■'in' HX-luOlll CWtlS ill ir>S '.id •'". si v Ii.nl li Comm. of Aust. N.Z. Newspapers 1 11 6 ,- ,', to 2 woolled 3 2 to 3 hallbred c.wcs at .1 Ms sd, il six-toolli K.mi(pref.) 9 16 9 9 17 9 N.Z. Refrigerating (10s pd.) 0 8 10 Resolutions reducing capital to 3 to full Comm. of Sydney 16 4 0 16 7 6 Blackwatcr 1 11 4i LONDON, March 13. £62,979 16s and cancelling arrears of woolled 4 3,' ( Oantcrhury Fanners' Co-operative Assoeialion, j.td. (1,'craldine; — Fat sheep: 21 ewes at 12s 4d, 27 at J is -Id, i'.) at Ss 4:1 at E„ S.. and A. .. 4 17 6 4 19 6 j Gillespie's Beach . 0 1 9 Wheat cargoes, after a dull opening dividends on preference and A. pre-Three-quarterbred: New South Wales .29 17 6 30 5 0 demand, became more active. There ference shares to March 31, 1934, were ] to i woolled 31 2,J to 3.J lis JOd, 20 at JUs Hid, i;ti at 12s lOd New Zealand .. 2 9 0 2 9 3 was large business in cargoes by the unanimously adopted at an extraordinary meeting of shareholders of :,' to full woolled 4,} 3i 2!J Jambs at 17s lOd, a;s at 20s Id, S2 al J as Od, 02 at 17s Id, :io at 20s l()d, «2 New Zealand ("D" Mort. shares) .. 112 2 1 12 6 WELLINGTON tailing ships from Australia. A. J. Entrican, Sims and Company, Halfbred: a'. 18s Gd, ::;; al 3 8s. Stores: 2 1 two-loolh Reserve .. 6 9 9 6 10 6 Sales on , Cha.n pr '* Parcels were lid to 3d down, at Limited, general merchants. The ,'v to i woolled 3 : ; to a 2J to 3i ewes at 22s (Id, 71 at 28s, 1J t at 28s, 74 at 14s Id 4 r » m t '>K ''ii .,1 " i . t - , Union of Aust. . . 8 10 6 8 12 6 £ s. d. Which fair trading was done. reduction was effected by writing : i to full Hi ito t,i, j.j in —J-s, .,u at "'Is, '\,) twotooth ewes at. 22s, (id six-lootli ewes at J'l^ Insc. Stock 4 p C lQ4fi f<->r1r! Futures are quoted:—■ down 9000 A preference shares from woolled 6 to 8 5 to 7 (id, 71 lambs at 7s 4d, 25 at lis, 52 at 14s Insurance lot) 105 10 0 £1 to 17s 6d, 69,392 ordinary shares Lambs .. 5 to 5 : ,' 3.? to 4J. Id, 20 ewes at (is, 01) at lis' Id, 70 at. A.P.A. . . 10 9 —- Wellington Gas, 61 p. c, Mar. 11. Mar. 13. s. d. s. d. London fa quarter) — April .. .. 20 31 20 6 June .. .. 21 li 21 3 Liverpool (a cental)— March .. .. 4 7i 4 7J from £1 to 13s and cancelling 1000 A Hoggets: Black 2d. 10s 7d, 44 al -Is lid, 128 at 2s Od, 52 at National .. 1 0 10 1 1 1 1/10/1941 ' . 105 10 0 preference shares which had not been taken up. Preference capital remains Abattoirs: s. d. s. d. lis 0d, 7 two-tooth ewes at 20s 5d, 22 al 20s 2d, 40 at 22s Od, 00 ewes at 14s 2d, <i. r > nt l-ls 2d, Hli af J4s 2d, 5o at 22s 4d. New Zealand .. 3 8 0 South British .. 4 13 0 Standard .. 3 12 0 3 8 6 Nat. Bank of N.Z. Reserve Bank (3) 3 6 7 6 10 3 unchanged in 10,000 shares of £1 each. Pelts - .. 1 0 to i 2 J'ync, Gould, Uuinness, Lid.—Fat slieep: ~ A.P. Assurance 0 10 6 CARLTON BREWERY Three-quartcrbrcds .. 1 5 to 2 4 Halfbrcds .. 1 8 to 3 3 Lambs .. 1 8 to 2 6 Ewes, 10 at lis lOd, 12 at 12s lOd, 27 al lis 4d, 12 at 10s 10(1, 10 al lis 4d, 14 at 10s 4d, 15 at 12s Id, 16 at 12a 7(1. Lambs: Loan and Agency Dalgety and Co. — 8 15 0 National Insurance (late Wednesday) Wed.) 1 1 j 1 3 1 3 1 3 May .. 4 lOg 4 ll.JJuly .. ..5 1 5 li October .. 5 3J 5 3? 20 at 7s 7d, 10 at Ills 4d, 2t at 21s Id, 40 at Ills 4(1, 1!) at Ills Id, 18 at 18s lOd, 25 at Ills 7(1, 27 al His 7d, 114 at. 18s Id, 28 at His 7d, 28 at IDs- I.0d, 02 at 17s Goldsbrough, Mort. 1 7 6 1 7 9 South British Ins 4 14 0 Carlton Brewery, Ltd., reports a Mutual Benefit . . — Nat. Mort. "A" .. 2 10 0 0 15 10 2 17 6 (late Wed.) N.Z. Breweries 4 2 14 0 11 6 net profit of £73,845 for the year ended SYDNEY MARKET 7(1, 42 at Ids 4(1, 45 at 10s Od, 4 5 at Ills Nat. Mort. "B" .. 1 11 0 N.Z. Guar. Corp. 0 5 9 N.Z. Loan & Merc. (ord. stk.) . . ■— Permanent Invest. — United Build. Soc. (cum div.) .. 12 0 Wright, Stephenson and Co. (pf.) — — British Tobacco 1 17 9 GUIDE TO ADVERTISERS December 31, compared v/ith £72,306 for the previous year. With £128,170 brought into the accounts, there is available £169,336, the interim divi(Received March 14, 8.30 p.m.) Id, 08 at LSs 10(1, 52 at 19s 4(1 07 at 18s 10(1, 25 at 22s 7d, 24 at 10s 10d, 12 at 20s. lOd, 50 at 17s JOd, 117 at 20s 4d, 25 al 21s Id, 117 at ]Ss lOd. Slnres: OS 1'our-lootli ewes at 25s, 51 Cm. owes nt 12s, 0 5 11 46 0 0 10 10 0 Mauri Bros, and Thomson Big River Unlisted Stock 2 0 3 11 2 21 VALUE OF NEWSPAPER PRESS DIRECTORY dend of 4 per cent., paid last September, having absorbed £32,679. Final dividend of 5 per cent., making 9 per cent, for the year, required £40,849. SYDNEY, March 14. Wheat, bagged and bulk, on country sidings, is quoted at 2s 5id, equal to about 3s Old and 3s lid respectively, 111 two-lootli ewes at 5s Od, 111 f.m. ewes nt 7s, 117 two-lootli ewes at 2(is, 85 owrs at 11s (id, 120 ewe lambs at 10s 4d, <i:S Iwo-lnoth ewes at 22s 4d, 101 s.m. ewes at. 15s Od, 20 tlireo-shear ewes at 15s 2d, 12 9 Woolworths, Ltd., ord. (late Wed.) 1 0 0 4 10 0 u The ninetieth annual issue of the Newspaper Press Directory" has just THE POTATO EMBARGO ex trucks, Sydney. Flour— £10 17s fid. 50 s.in. ewes at lis, 22 (wo-lnolh ewes al 20s !Jd, 41 m.s. lambs at IDs 7il. 82 wothcr lambs at 10s 2d, 10 at. (is Od, 02 ewe lambs Frozen Meat N.Z, Refrig. (£1 DUNEDIN Bran—£4. al 17s, 20 s.m. ewes at 10s 2d, 20 at 7s, paid) .. 0 19 2 0 19 3 Sales Reported , appeared, and there can be little doubt Pollard—£4 10s. 42 at 12s 4d. SO m.s. lambs at' 7s 4d, 24 N.Z. Refrig. (10s £ s. d. | that the hope of the publishers that Jhe work maintains the standard of its TASMANIA AND VICTORIA Potatoes —Tasmanian, to £9 10s. Onions —Victorian, Brown, £8; Iwo-toolh-ewes at 15s 7d. 10 wether lambs al. 7s Od. (57 at 4s 2d. 22 two-tooth ewes at 21s 9d, 48 s.m. ewes at 12s 5d, 47 s.m. paid) . . 0 8 8 Southland (cont.) — Waitaki .. 3 0 0 0 8 9 1 18 9 Bank of N.S.W. National Insce. 30 1 0 0 1 2 Predecessors is fully realised. A wealth with rmation on a11 matters connected y»«n newspapers and other forms of journalistic ant;,,;*,, ic- r. n nt=in D H in ihp New Zealand is not alone in having an Australian embargo placed on its Globes, £7 10s • Maize—3s 6d. ewes at J 5s Id, 118 nt 13s 4d, 32 twotooth ewes nt 18s, 144 f.m. ewes at, 4s 7d. 188 wether lambs at. Ss 4d, 130 ewes at. Ss 3d. 52 at Ss Od, 77 wether lambs at Woollens Bruce .. 0 110 0 14 6 N.Z. Refrig. (cont.) Woolworths (Sydney) 4 per cent. Bonds, 1946 0 « 1U 4 8 6 105 15 0

Morning: Sales £ s. d. Commonwealth Bonds, 4 p.c.— 1941 105 12 6 1944 106 15 0 1955 107 12 6 1957 105 0 0 1959 108 2 6 1951 108 7 6 Ccm. Bank of Sydney 16 7 0 Bank of N.S.W. • 30 5 0 Anthony Hordern 0 17 3 Associated News • 1 2 7i Associated News (pref.) 1 3 6" Broken Hill Prop. 2 11 9 Colonial Sugar 41 15 0 Dunlop Perdriau 0 18 3 Lustre .. 1 7 3 Afternoon Sales Bank of N.S.W. 30 2 6 Colonial Sugar 41 15 0 Queensland National Bank 5 2 0 British Tobacco .. 1 18 0 Tooths 2 10 0 Newcastle Gas A 0 13 6 Goldsbrough. Mort 1 8 0 Morris. Hedstrom 0 18 6 Millaquin Sugar .. 1 14 6 Electrolytic Zinc 1 1 7 V Farmers .1 4 o" David Jones 1 19 6 Anthony Hordern 0 17 4.5 Lustre 1 7 3~ Hume Pipe .. .. 0 14 6 Australian Iron and Steel (pref.) 1 3 1 General Industries 0 14 10 Mount Morgan 1 17 74 Bulolo Gold 9 3 o" Placer Development 28 10 o Peninsular Tin .. 1 0 6 Rawang .. \\ 0 7 8

FOREIGN EXCHANGES (B&ITI3B orriciiL wiaiuiss) ra GRY. Ma rth 13. Pari* fr to Par. Mar. 12. Mar. IS. XI 124.21 71 19-G4 79i .New York, dol. to £1 4.80G 4.73? 1-7 41 Montreal, dol. to il 4.8GG i.Soi 4.*tj Brussels, belgas to .VI 35 20.1 G 2 0.2 2 Geneva, fr. to XI 25.2215 11.49 11.55 J Amsterdam, fl. to £1 12.107 6.9U fl.?5i Milan, lire to i'l 93.47 5(51 >6 21 31 Berlin, reiihmarken to £1 20.43 11.(59 11.72i Stockholm, kr. to £1 18.159 19.39$ 19.391 Copenhagen, kr. to£l 18.159 23.39i 23.39| Oslo, kr. to £1 18.159 — Vienna, schgs. to £1 34.585 25i 25* Prague, kr. to £1 164.25 112J 1121 Helsingfors, marks to £1 193.23 226J 226J Madrid, pesetas to £1 25.2215 "1* 31 17-3* Lisbon, eseurtos to £1 110 110i HOi Athens, drarii. to £1 875 495 494 Bucharest, lei to £1 81?.6 4TO 467| Belgrade, dinars 20.3 20.T Rio de Janeiro, pence to milreis 4.592 a a Buenos Aires, pence to dol. 57 30i 3<?i Montevideo. pence to dol. 57 418 «* Bombay, pence to rupee 19 19 7-16 19 7-1S Shanghai, pence to dol. * 19 3-16 19 5-18 Hon? Kong, pence to dol. * 24 24 Yokohama, pence to yen * 14 14 Batavia, guilders 12.107 6.96J 6.93| Warsaw, par zlotys to£l 4.3.36 24.75 24.75 ♦Determi ned by pr ice ot sil ver.