FINANCE AND COMMERCE

Press, Volume LXXI, Issue 21506, 22 June 1935, Page 12

FINANCE AND COMMERCE

SHAKE MARKET

19s 2d to 18s 9d; Skippers from 2.5 d to 2d; Grand Junction to 4s Id. King Solomon ranged from 3s Hid to <ls 2d; JNokomai had business at Is 4d. Maori Gully recovered from Is ■ 2d to Is sd. Mataki moved up to Is Gd, and Mount Morgan to 36s 3d to 36s 9d. YESTERDAY'S TRANSACTIONS Markets on the whole were firmer on call yesterday, and there was a good volume of diversified business. Transactions, exclusive of vestibule business, were:— LISTED STOCKS Sales on 'Change £ s. d. £2OO N.Z. Govt. 4 p.c Bonds, 1952-55 ..112 0 0 50 E., S., and A. Bank .. 510 ' 175 National Bank of N.Z. (cum div.) .. (2) 310 0 200 Goldsbrough, Mort (2) 19 6 100 Broken Hill Prop. .. 218 0 500 Big River .. .. <> 2 2i 400 Skippers .. •• ° ° f 100 N.Z. Breweries . - 2\£ i Sales Reported 2100 Maori Gully (2) 0 1 5 325 Broken Hill Prop. .. 218 0 100 South British Insur. 418 9 10 Bank of N.S.W. .. 31 0 0 100 Tooth and Co. .. 2 13 J 200 Dunlop Ferdriau Rubber .. (2) 016 A 50 Woolworths (N.Z.) ord. .. .. 12 2 6 UNLISTED STOCKS Sale on 'Change £ s. d. 100 Woolworths (Syd.) ord •■ •■ 412 » 0 4 12 9 Sale Reported 100 Woolworths (Syd.), ord. • • • • 4 1.) 3 Bonds and Bank Shares New Zealand Government 4 per cent, bonds, due 1955, advanced to £ll2, market closing £ll2 buyers, no English Scottish, and Australian Banks relapsed to £5 Is and more were offered at £5 Is 3d buyers at £5 0s Gd. National Bank of New Zealand, cum dividend, were firm e.t 70:,, and more were wanted at 69s bci. Bank of New South Wales were firm with sellers and business at £3l. Bank of New Zealand were firmei on buyers' offers, 50s. Industrials South British Insurance rose sharply to DBs 9d, market closing 97s buyers, 100s sellers. Goldsbrough, Morts were steady with buyers and dealings at 29s 6d. . ~ . New Zealand Breweries, cum dividend, moved up a point to 52s 4d, and there were further sellers at that price, buyers at 52s Id. Tooth's Brewery shares advanced Is to business at s„s 9d, and more were offered at that price, buyers at 53s 4d. Austr; lian Iron and Steel preference were firmer on buyers' oilers, 22s tux Broken Hill Proprietary rose sharply to dealings at prices ranging from 57s 9d to 59s 2d, closing quotations t>9b buyers, 60s sellers. Dunlop Ferdriau Rubbers were fractionally weaker wuh buyers and dealings at 16s 3d se lei., at 16s 4d. Buyers of New Zealand Drug Company shares raised then bids to 83s 3d, sellers at 80s 3d. Woo - worths (New Zealand) ordinary advanced to £l2 2s 6d. Mining Big Rivers were a shade stronger with buyers and business at 2s -,t. sellers at 2s 3UI. Maori Gully had deaHngs at is 5d and Is 4kl, end these were sellers' and buyers' closirV! quotations respectively. Skippers weie a shade stronger at 24d. Unlisted Stocks Woolworths (Sydrfey) ordinary rose to dealings at prices ranjnng from J--6d to 93s 3d, and closed with buyer, at the highest price. Procera Bread. 10s paid, claimed buyers at 375, an advance of 7s on Thursdays business figure, sellers at 40s.

WEKKLY REVIEW l ',s ,l ' „.ist week the share mari » ' ~«d Htiv«* ana prices for i it [ »' *ci" riirn— there was a t, '<itd fill,/ m the week, but _,„ r i i j.ub I* of business done asP i sotridl {Mopurtior.si, and at the ■ i'-c uj'ktt v.d, firmer and r > f yiiiil •-totic, .nowed note- • . ' <d.ant On the local mara < ril U/ik wii heavily dealt I,i in vi j Uuhijus section the " ' j *i\ ir< Sun Newspapers .* Lr «.i n 5 ! ti L"n put tary 975, Dun- ; t Ru Uj , ojO Shipping, woollen, *n t '., tK.'i u >\eie maccive. it ' j ning ti a comparison of i 1 i i id"! turn )ver on the i Un ' I i the IdA lortnight:— Tins Week. Last V/eek. £ £ .. 2.G06 4,603 ilx/ticay .. 2,058 2,638 Tui.tlay .. 2,581 2,702 W*;dtii.':;day .. 6.344 2,634 T.o-ar,.d:jy .. 4.175 2,120 ix-Jiuy .. 5.735 6,621 £23.439 £21,378 The iacai turnover was made up as f(.;lUjw»:—Dtbenturesi £3435, banks *;.>.'121 pastoral £1789, refrigerating £2!L'. breweries £2084, gold mining £ 1!&£,. The number of shares that changed han'ii m <sach .section was:—Banks 1;;32, insurance 100. loan and agency litW, fruit n meat 322. coal 500, brewcj'.ii J2o<j. miscellaneous 5210, mining 15,500. Government Loans T l i i v 'i( jikJ truvactkn were reKOf L 1 i *hi it to t 1 (3d 4 i £lO5 7s «f J n » t 10/ 10 1) ) li. £lO5 M AJ< l>i J pit nt t ok, 1041, Jt 1 i . it t ok UM), £lO3 tw 1 JJ > i I jnd £lO 7s Gd; I'Zij ii / I t ) £10! 1)49, £IOB }*» > i in') 1 o £lll I„ H £11! ) £ll » i i d i id (A (k'and) 7J r M r i t d ir du i)H changed fj. a xlt i i jnJ Cty -U per u 11 j Liu 1 Booth Macrt, 1 ( i n U at £O2; GISn i ir ( nt.. 1941, , i v i i ita iiuu Board i i I it i 107 md Well , , i I 1 ill it £lO4. Ljtik I j uri i with dealings tt , ii U t ommorcial of I i > to 1j J(i 15s 6d. I i pdrnc from j ij i ( Commercial ox j i ii d null it at £l7 n i } i 11 £ S and A advanced , i 1 (J Lj 1 9d md £j2s; but i 1 it tn clo e National „/ & L I J j J-li' paid rose to £l2 j (tl i o pjid were firmer I umJ id nd Limtl to TO, „ , , ii f n busmes a fortnight , Sjuti Walo were steady u i. Hi (landtJl Nov Zealand. « u iud had lcol,n. it 40s lOd i , \ d uid >( Re tr/e Bank J ,/Jnj, t £u9s6d £6 9s9d adit J I i ->u iuank dropped to A.a - J t-i U

insurance and Loan and Agency APJV. moved up to 21s 3d; National «v.H trom 21s to 20s Kd. and New 9V-*l--i -t> to &)s 3d 67s 9d, and 6f»s. 'Dainty and Company changed hand., it i"» 3a 8d and £8 2s 6d. Goldsbrouxh Morts. cum dividend, ranged £» d to 29. 6d. Dominion Inand Banking remained un-».V.;-d at 10s fid. Farmers' Co-op. »* \Z-. Jrn- "A" preference had ?-.,■.r-intr-*- Corporation were Urm at L W North Auckland S.„,er ; "B" preference were fracat 6s 3d. United Buildin- siri«ty rose to 235-tho Auckland tympany gained lOd at 20s 4d. Khippinv. Frottn Meat, Woollens Coal and Gas P and O. Deferred Stock eased to *•! '•».! r>r.r Meat, turn dividend, was lrr.fr ■ i Cd. New Zealand He-frip't-ra-rnx £1 paid, declined to 19s 3d 2nd IPs. ih'e 10, paid were fractionally "ak« at. 8* lOd, Kaiapoi Woollens, lis taid moved up to 15s. and Mosi . 1 «'.' £ r V/estport Coals were It,' at 21s. and Renown (preference) • 1, , Auckland gas were easier It 20s 3d; ihe 15. paid were fractowwJly Hr.aer at 20s Id. Breweries Lwfmln.on remained at 15s. New 2>aLami, cum dividend, showed littK. movement at 52s 4d and o2s 3d. Sa.li-w.Tr- steady at 335. Timaru. Rffed had business at lis 9d-the \.M I paid were firm at 8s 4d Tooths advanced to 52s 6d. 52s fld. and a3s 9d. Miscellaneous Tr-" following transactions were re«r,fd«i and the movement on the last Jworded sales fs shown in parenthesis. Associated Newspapers, 23s 6d (up Anthony Hordern. 18s 6d fdown 3d). Australian Glass (cum div.), ton u, «!)3 (up 3d). Bartholomew Timber, 16s. EifrhH (N.Z.), 45a 6d. British Tobacco. 38s 10R 38s 9d Broken Hill Proprietary, to aUi '>d nip 3s 2d). Pun's PhilD »- : 3s Hd (up 2s lid). C«'f«iid:!v.d' Brick. 9s id to 9s 4d Col.mial Sukar, £42 to £42 12s 6d t'x:j U 2s Gd>. G J C'>l>-fi, <>»■? 3d. 60s 3d (up Is 3d>. Dominion Builders. Cs 3d, Cs 4d (up id). Dominion Fertiliser. 21s 10d. Dunicp f'miriau Rubber, lGs 4d, Ida Electrolytic "zinc (ord.), 2Cs 4d, 26.3 ElecU'olyuc Zinc (prcf.), 35a 7d. 35s 7id 'up 7d). Farmers' Trading (ordinary), 7s 3d, 7-i 4d (up 4d). K.D.V. Boxes (IDs paid), lis 6d (up Kauri Timber, 20s 2d to 19s lid diwii 4d). 10-bnd O'Brien Timber, 21s (down 3J>. MHburn Lime, 44s fid (down .id). Milr.e Chovce debenture stock, 15s 3d. National EU-ctrie, 10s fid. National Timber, 13s, 13s 3d. New Zealand Newspapers, 38s (id to 39s 3d. N.Z. Dnuv, 83s Kd (up Is). Jtotoiti Timber, 4s 3tl (up 3d). Standard Cement, 235. Sun Newspapers, 8s 5d to Bs. Taupo Totara Timber (£1 paid, pf.), 19s 2d, Vis (down 3d). Union Oil, Soap, and Candle, 30s. Whiicorrtbe and Tombs, 80s 6d (up ttd.h Wool worths (N.Z.), ord., £ll 6s to £l2 2s Gd (up £1). Wilson's Cement 395, 38s 7d (up 6d>. Gold Alining: The local turnover of 15,500 shares mi made up as follows: Big giver. 1800; Kitdaxe, 100; King Quinsnm. 300; Mahakipawa, 500; Maori Juuuy, W2QQ; Mossy Creek, 700; Mount iXacU, M 9; Nokomai, 300; Skippers, f mm; Walhf Grand Junction, 200. Bssidsjgo Goldiights were firm at MM; ®k Kiver at 2a 2d to 2s 3d; >W*il»J n Vt* 3d and 37a. and Oxen- ' »t*W»» Shotover at 5d and 43d. Golden • fwna mmA to 28 3d; Kildare to 33 £k jp lS«h3tkipßwa to 7id and 7<l; Mossy *» to 9%Si Mount Lyell from

AUCKLAND [THE PEES 3 Spaclal Service.] AUCKLAND, June 21. Trading over a wide area was the feature of the operations on the Auckland Stock Exchange this week. The mid-week period was particularly active but conditions to-day, were nuieter The amount of busines m shares quoted "unofficially" was considerably larger than in any week tb \, year This section of the exchange hns grown in importance since it was established a few years ago. The movements in the Australian market had a marked influence on the Auckland exchange during the period. Broken Hills were sold up to 58s Od, a rise of 2s. This year is the Jubilee year of the company, and in addition there are strong rumours that the company will be seeking new capital with an issue of shares at par. The company's works have been particularly active in the last year owing to the expansion of business m the iron and steel trade. _ Another issue showing appreciation was Colonial Sugars, which rose m dealings from £4O 10s to £42 12s 6d, the last-named price showing the very low return of £2 18s 8d per cent It is believed that investors do not expect the present rate of dividend (0.1 per cent.) to be continued, and it is suggested that a special allowance to shareholders is to be made in the next dividend. The payment may be permanent, although it is intended only to compensate for the extra income tax on the bonus issue of shares. The third movement of Australian origin was a wave of buying in all issues of Woolworths, prices for which showed a sharp rise. A firm tone was maintained m most sections of the market Although loading industrials recorded gains, the gilt-edged market was also well supported: Bank of New Zealands are finding a good measure _of suppoi t after the opening, ex dividend being Slower at 49s 10d. One sale price reached 50s to-day. There was a forward trend in the levels for insurances, but the movement was not marked, and New Zealands again sold at less than recent ra A C part from the attention given to Australian industrials, some ot the New Zealand issues were prominent. The report of the Consolidated Brick Company gave a hopeful view of dividend prospects, with the selling took place 6d higher at 9s 3d after opening 3d lower at 37s fad. V/aihi Mining dropped in subsequent dealing to 375, which seems; to j have steadied the market. Wdihi Junctions lost a further 2d in trading down to 4s. WOOLWORTHS (N.Z.) INTERIM DIVIDEND OF TEN PER CENT. U>a*B» ABSOCUTIOIJ TZLEORAM.) WELLINGTON*, June 21. Woolworths (New Zealand), Ltd., advised the Stock Exchange Association to-day ':hat an interim dividend o!' 10 per cent, on the paid-up capital has been declared, payable on July i, ordinary transfer books closing on June 24.

DUNEDIN [THE PSEB3 Special Service.] DUNEDIN, June 21. The volume of business transacted on the Stock Exchange during the last week showed a considerable increase compared with that recorded during .the previous period, banking and mining shares showing a fair amount of activity. The market for most stocks remained firm, any changes recorded being slight , ~ . Bank of Australasia were dealt in at £ll Is the market closing with a seller at £ll 2s. and no buyers offering Two sales of New Zealands at £2 10s 10d, cum dividend, and one at £2 10s, ex dividend, were recorded, a final buyer at £2 9s lOd being unapplied, Commercial preference shares changed hands at £9 10s, the most recent buying oiler of £J <s failing to attract sellers, Ordinary shares showed a slight improvement, buyers offering 15s sd, compared with las 2d last week, and sellers asking 15s 7d. Two parcels of E., S.. and A. shares were disposed of at £5 2s the market closing with a seller at £5/ is, and no buyers offering. Contributing Nationals of Australasias were dealt in at £6 ss, the final seller at the same figure failing to attract buyers. National of New Zealand met with a firmer demand, buyers being prepared to give £3 os, which is two shillings better than last week, but sellers did not come forward. Reserve Banks were enquired for at £6 8s 6d, sellers remaining unchanged at £6 10s. Business at £6 9s was recorded. Sales of Union Banks at £8 10s and £9 were reporte ', the market closing with a seller at £9 Is. Insurance was practically no change in insurances. Nationals were dealt in at £1 Is. the market closing with a seller at the same figure. Standards continued to be enquired for ai £J l?s sellers' closing requirements being £3 13s (id. . • tl i There was a slight easing in the demand -for P. and O. deferred stocks, buyers' best offer at the end of the week beirg £1 0s 6:1. A transaction at £1 Is 2d was recorded. Union Steams continued to be enquired for at £1 7s, without sellers showing any interest. Freezing Shares Contributing New Zealand Hefrigeratings chanced hands at 8s lOd, the closing buying and selling quotations being' 8s 91 and 9s. There was a slight easing in the demand for South Otago freezings, buyers ofleririj? £6 13s. The demand for Waitaki Freezings remained unchanged at £3 10s. National Mortgage B shares were enquired for at £1 lis 3d, cum dividend, but sellers were not interested. Trustees and executors' shares were also enquired for at £3 2s, ex dividend without any response being received from sellers. Kaitangata Coals were offered for sale at the slightly reduct?d price ol £1 0s 9d without attracting buyers. Two parcels of Westports changed hands at £1 Is, the market closing with a buyer -it £1 0s 9d. There was no change in the market for Bruce preference shares, which continued to be enquired for at £1 Is Gd. Kaiapoi preference shares were in demand at 17s but buyers remained unsupplied. Mosgicls were disposed of at £l2, the latest buying and selling quotations being £ll »s and £l2 respectively. Oamarus were on offer at 13s, without buyers showing any interest. . Associated News shares were dealt m at £1 3s 6d. a closing seller at £1 4s attracting no reponse from buyers. Broken Hill proprietaries were in demand at the improved price of £2 lis Gd, but sellers were reticent. Business at £2 17s and £2 lGs fid was reported. Dominion Fertilisers were r.lso in better demand, buyers offering £ 1 Is Gd Sellers would not do business under £1 2s at the end of the week. Business at £1 Is lOd was recorded earlier in the period. Donaghy s Ropes met with an earlier enquiry, buyers' best offers being £2 10s. _ Kauri Timbers were the sub.jeci._ot business at £l. the market remainine unchanged- with a buyer at the same ii"ure. Business in Mdburn Limes at £2 4s Gd was recorded, the closing buying oiler remaining at £2 4s the same as last week. National Electrics were dealt in at 10s 6d. the closing buyers at 9s being unsupplied A parcel of New Zealand Newspapers shares changed hands at £1 19s 3d the market closing with a seller at £1 19s fid, and no buyer offering. New Zealand Paper Mills met with an easier demand, buyers best offer being £1 13s, compared with £1 14s last week. Sellers remained unchanged at £1 15s. Sun Newspapers firmed slightly, buyers offering Bs, and sellers asking 8s 3d. Wilsons Cements were disposed of at £1 18s «i, the latest buying offer ot £1 18s «d being unanswered. . A marked improvement m the demand for Woolworths (Sy.'ney) shares set in. buyers - fieri ne £4 12s 3d. A seller however, did not come forward. There was practically no change in the market [or brewery shares. New Zealands were enquired for at £2 12s sellers asking one shilling above that figure. Staples were m demand at £1 12s 9d, but sellers were not interested.

OTHER QUOTATIONS N.Z. Government Debentures \ Buyorn. Scllcrß. < £ «. d. £ »■ <*■ V- pc Ins\, 1038-53 .. 107 0 0 103 5 0 'A p.'c' Ins. 1030-52 ..107 5 0 -■- . l* n c Inn., 1037-10 and I„r Ins., 1913-10 •• 107 lu 0 IUB 0 0 „"c l.i.i r.)i«-4a .. ion io o - ' r' I « l-J-y'-SS .- 1" 1- t; "- ° ° i p'c' Bonds, 1943-16 .. 108 0 0 108 10 0 1 p.c. Bowls. 1940-19 .. I*lß 0 0 .1 p.c Bond,, 1052-55 .. Ui " " ~ Ki.wl Bonda ..10, 0 0 Other Debentures 800,,,, M«cjio n uId, C,i o o _ P.'c, 1345 •■ 10" 0 0 ~ Kastbournc Boro., 32 Q 0 p.c, 1-0-55 ~,.•■■ "".1., pc, 1-5-57 •• - »" 0 ° Loan and Agency Perpetual Trust (18s pel.) 35 0 Woollens Kaiapoi (17. paid) •• <> 14 7 ° ls ° Morsel (£1 I«'' J ) •• 12 ° ° U ' Gas Timaru (£1) •• 10" : a ° Breweries Timaru (10») -• « " ? "\' ° Timaru <7a«;d paid) .. 08 ;. J 0 White Star (£1) ■■ Oh 0 010 0 Melbourne Co-op. (ill) .. '2 0 3 ~ - •> Miscellaneous Amiiljr. Wireless (conl.) (£1) .. •• Ili 0 1 1,1 J Anluony Ilordern (£1) UlB 7 018 8 Associated Ncwflpapcu .XI) • ~120 Aust Iron and Steel ipl.J vvar.) •• •■ 1 210 J. J u liooth, Macdonald iprcf..) o ° 6 UroKen Hill Prop. tfi') "~ W 0 3 0 Claude Keen (Syd.) (£1) - 2 " r ° Con.,ondaieu mien in) (.9 1 0 J j i-i.I.C. (10b paid) .. 010 0 j.I.C. (pref.) (i'l) •■ nonunion Buildera Sup. (Ida) •■ 0 b 4 u / u flays, Ltd. (15b paid) .. 010 3 1 0 0 iN.Si. Fanners' Coop. (Ist pref., (£5) .. 211 0 30 0 N.Z. Farmers Co-op. „ ,A pref.) (i-lj 14 0 110 0 N.Z. Faimera Co-op. B pret.i lit) .. 1 0 0 1 / o . N.Z. Farmers' Co-op. 4 J p.c. Stock, 1015) (£IOO .. .. 82 0 0 84 0 0 N\Z Newspapers (£1) .. 118 6 1 W 0 Quiil Morris (in liquidation) (£1) •• ° ' G 0 410 Sun Newspaper* (10s) .. 0 8 0 0 8 1 Taupo Totara Timber _ (ord.) (10s) •• 0 o 0 United Pictures (7a fid) 10 3 Woolworths (N.Z.). ord. (£1) .. •• 12 0 o i.i o

MiningThere was considerable activity in Mount Lyells, shares changing ha " ds at 18s GJ. 18s 9d. 18= lid, and 19s. The market showed an easing tendency at the close, sellers asking 18s 3d in response to buyers' offer of 18s 3a. Mount Morgan:-; were also dealt in at £1 16s 3d, the market closing with a buyer at £1 lfis, and no sellers coming forward. Several parcels of Eendigo Goldlights were disposed of at ll'.d the closing buying an.l selling quola'tions being lid and Is. Business was done in Big Rivers at 2s 3d and 2s 2d, buyers' final offer of 2s Id being twopence below sellers' requirements. Kinf Solomons were also the subject of business at 4s. the final selling quotation at the same figure failing to attract buyers. Nokomais were offered for sale at Is 9d. but buyers remained unchanged at Is. Government loans remained practically unchangc '. 3i per cent, stocks, maturing in 1952, being enquired for at £lO7. an increase of £1 compared with last week. Business in 4 per cent, stocks, 1940, at £IOB 5s was reported.

WINTER WOOL SALES ROSTER ARRANGED Definite arrangements have now been made by the New Zealand Woolbrokers' Association and the New Zealand Woolbuyer.V Association for a series of winter .sales, the dates of which are as follows:—Friday, August 10 Auckland. 3 p.m.; Tuesday, August 20' Wellington, 2 p.m.; Wednesday. Au»ust :>l." Wanganui, 4 p.m.; Friday August 23, Napier, 2 p.m.; Tuesday. August 27 O.ristehurch. 2 p.m.; Wednesday, August 23, Timaru. 4 p.m.; Friday, August 30, Dunedin, 2 p.m. BRADFORD TOPS TRADE LONDON, June 20. The Bradford tops trade is firm and tending higher as a result of the strength of the Australian market. Quotations are:— June 20. June 13. Last Year, d. d. d. 70's .. 30 29', 33164's ..28 28 31,| I 60's .. 27 2Gi 29| 56'3 .. 183 184 $ 50's .. HI 14 10i 46's .. Hi 11 12 40's .. 10i 10 103 PROPERTY SALES Messrs Ford and Hadfleld, Ltd., report the sale of the property at 88 Office road, Merivale, on account of the trustees of v,he estate of the late E. C. Gibbon, to Mr Allan. ~S

Woolworths (£1) ■■ •■ ! 13 ° Woolworths (Kyd.), 2nd prof. (£1) •• 1 5 1 ffuniltrlicli (.CI) •• ~ 1 1 » Minins Addison's Pint da) ■• - IJ '-' \ Alexander (15a paidi .. Jl.«il ni I (Uj . ■• - , '; - 801 l Hooper (In) .. 0 0 01 0 0 1 B«-ndr,o Goldhghts (U) 0 Oil* 0 1 0 Bi R Kiv«r (1») •• 0 2 2J 0 2 3> Brian Boru (ls> -. ° * Charleston Sluicing (la) '> J " Central Sl.otovcr (In) .. ~- » " '! Gillespie's Beach (Is) .. ° 1 4i 0 1 0 Golden Dawn (s*) •• ~ <> ' ' Golden Point (la, .. 0 0 1 00 H Golden Sands (iRI •• 0 2 4 O.J Goldlieids Urodg. (Is) 0 0 II 0 0 3 Kin- Solomon (Is) .. 0 3 Ifji 0 4 1 Lawson',) Flat (Is) .. 00 2 00 -h Maorewhenu* '!*> •• "''s f "" ' Mnnakipawn (Gd) .. 0 0 7 0 0 8 Mahakipaw.'! (pi'-d., 10™ issue) da) ■■ " n \ ". M,on Gullv (Is) .. U 1 •!* 0 1 a Mossv Creek (cum div.) (Is) .. -• 0 2 -11 0 <. C Mount Lyell (XI) •• 018 5 013 10 Mount Morgan (ss) .. Ilb 7 117 J Okarito (ss) .. ..053060 (Honbridge Shotover (Is) .. ..003Hnirain; Tin (10a) .. - 0/4 Rnndhillß Cold (Is) .. 0 0 1 - Skinners (Is) •• 0 0 2 0 J Waihi -ss) .. - 116 8 117 9 Wnitahu (Is) •- 0 2 8 0 3 0 Worksop "Extended (Is) 0 22 0 2 G Waimumu (la) .. .. 0 0 8 UNLISTED STOCKS All transactions in stocks quoted in this section are subject to a different rata of brokerage from tinted stocks and are cot quoted on the official list.: Buyers. Sellers. £ a. d. & s.d. Andersons, Ltd. (pref.) OIS 0 10 6 Assoc. Motoiiats Petrol , (pref.) ,* .... 1- 1 0 110 6

VALUES ON STOCK EXCHANGE.

CHRISTCHURCH RATES, JUNE 21, 1935 FORMER LEVELS COMPARED

a™ ;« "ivcn return 18 worked on mid-marltot price. Where no approximate prion 13 ,ji\on. return unless only ono quote in given-

Buv.-rs. Seller. £ 'u. d. £ »• d. • „ r„i,i ■• o 13 oi ;;; Junes Kcvi-J •• •■ J , , j Macctown •• •■ Orion Cold Syndicate n _ ,JMO paid) ■■ -" -' " N.Z. Mining Invest. l (|1 N . Z . Perpetual I'oresta 2 4 0 - ■■ ; New Kiver Od !-•!•-«! . -- " ; &„ W, & i r-7 o 2'v; o Fro. era IHead ive.ndors ]f , ~ , ; (( (| K. ;:eeee" , Ltd.'(pr.-f.) .. 0 _2 f. -" Snowy Haver •• West land Brewene" .. 0 b 0 __ Were'B Invest. Trust .. .; ( ' WooKvorths (Syd.), ord. 4 hj, ~ ■> 1. 0 AUCKLAND Sales on 'Chanf.;c £ s. d. Stock, 1946, 4 per cent. 108 0 0 Bank of N.Z. j « « Reserve Bank • • ' " National Ins. •• " N.Z. Insurance •• ' s " " Auckland Gas ■• 'J •' National Timber . - « iN.Z. Breweries •• •> Cons. Brick » ; ;' N.Z. Farmers' Fert. .. 0 1J J Mataki •• •• « \ ] Waihi Junction •• « ■ " Mount Morgan • • l i» (2 Unlisted Stocks Auckland Farmers' Free;:ing(£spaid) .. 4 U. 6 Woolworths (Sydney) .. 4 .j Alluvial Holdings • • 0 1 2J WELLINGTON Sales on 'Change £ s. d. Wellington Gas, 6 : V p.c, 1911 1040 0 National Bank of N.Z. .. 3 10 U National Bank of A/asia _ (£5 paid) (late Thurs.) 6 r, 0 Bank of New Zealand .. 2 9 10 National Timber .. 0 13 liotoiti Timber .. 0 4 9 Staples Brewery date (Thursday) .. • • l }i . 1 1.5 1 Broken Hill Piy date Thursday) .. ■ • 2 17 0 2 17 9 Cons. Brick .. .. 0 9 4 N.Z. Druß .. -. 4 3 6 Farmers' Fertiliser .. 0 U J Woolworths (N.Z.) (late Thursday) .. .. 12 2 6 Unlisted Stocks Woolworths (Sydney) (late Thursday) .. .. 4 12 3 (2) 4 13 3 DUNEDIN Sales on 'Change £ s. d. Mount Lvell .. .. 0 18 6 Big River .. .. 0 22 Sales Reported Kauri Timber (late Thurs.) 10 0 Bank of N.Z. (late Thurs.) 2 10 0 Reserve Bank .. .. 6 9 0 Oxenbridge .. .. 0 0 5 0 0 4J 4 p.c. Stock, 194 C ..108 5 0

SYDNEY On the Sydney Stock Exchange yesterday there was, a heavy turnover, with leading industrial and trading shares firmer. Morning Sales £ s. d. Commonwealth BondsSi p.c. 1949 .. .. 99 10 0 4 p.c. 1938 .. ..101 15 0 4 p.c. 1947 .. .. 106 0 0 4 p.c. 1950 . P .. 106 17 6 4 p.c. 1957 .I .. 105 15 0 4 p.c. 1961 .. .. 106 15 0 Comm. Bank of Sydney .. 17 15 0 ' Tooth's Brewery .. .. 2 14 3 Associated Newspapers .. 13 9 Associated Newspapers (pf.) 14 3 Broken Hill Pty 2 19 0 Dunlop Perdnau .. .. 016 9 Howard Smith .. .. 014 6 Morris Hedstrom .. 1 1 10$ Afternoon Sales Queensland National Bank 4 9 0 colonial Sugar .. . * 44 17 6 Associated Newspapers .. 13 10i Associated Newspapers (pf.) 14 3 Howard Smith .. .. 014 6 Australian Gas A ..826 Beriei (prefj .. .. 110 0 Tooth's Brewery .. .. 2 15 6 Hume Pipe .. .. 013 9 Australian Glass .. .. 3 10 0 Dunlop Pcrdriau .. .. 0 16 6 Goldsbrough, Mort .. 19 9 Morris Hedstrom .. .. 1 1 10J Henry Jones .. .. 117 6 farmers .. .. 16 0 General Industries .. 0 18 9 Mount Morgan .. .. 116 6 Broken Hill Pty. .. 2 19 0 South Broken Hill .. 4 5 0 North Broken Hill .. 6 8 0 Placer Development .. 29 4 0 MELBOURNE

£ s. d.: Goldsbrough, Mort .. 18 6 K., S., and A. Bank .. 5 2 0 GOVERNMENT SECURITIES LONDON, April 25, Tho following are the latrst quotations lor Government uccuntics. compared with the prices ruhri'.» last week:--Juno 20. Juno 13. £ b. d. £ B. d. IJritii'li--Consola .. 85 5 0 85 0 0 Kundinj.' Loi.ii, <l p.c. 317 17 G 117 0 0 Win Uitiii, •■',', p.c. .. JOG 0 0 105 5 0 Gon l-o;iu, 3 1 . P.o. 107 17 0 107 2 6 Victory bonds, 4 p.c. 11G 0 0 104 10 0 (»mino,",w.;..,ii. 5 ~<■ 1915-75 .. 109 5 0 103 3 9 V pV- 193G-37 .. 102 3 9 102 0 0 ;" ~<■ ' P)j:t-iri .. 101 0 0 104 0 0 :;•; pc! I9IK-53 .. 102 13 9 102 13 9 :•>«. South Wales- , „ I ~<• I'll.", .. 101 0 0 101 1 3 '■;' |'k' pcid-jli .. 100 1 3 100 2 6 r ~ ( . ' pi-15-.i-, .. 100 10 0 100 0 0 r/ p.c'.','' 1935-5.5 .. 101 13 9 101 12 C V -! l ' t | ?"" - l'r-")-i9 -• 93 0 0 97 12 G 4i „','■ I'MO-f.O .. 104 0 0 103 17 G r,' „.<■.',' 1955-75 ■• 1 () » 15 ° los 7 6 os 0 0 97 0 0 }', ~.',-;; I'Vid-OO .. 107 5 0 107 0 0 S " ,,l p\ A Tifi i! '~r after B8 15 0 89 0 0 ;, ;,,:;; ~,.,-,75 .. 10s n> 3 ios 12 0 *C\7<-'.. ■■ i f »i v> ° 301 10 ° ' l ''»' , m'"" l- i<i"o-io • 101 10 0 101 0 0 7' „ c.7 Kt'O-SD .. 102 0 0 101 10 0 ■ < r,w. ! ' ,ii ri|M'3 .. 109 15 0 109 15 0 :!, ' , i'ii'i . 103 10 0 103 10 0 :;•' ! : • ,;,.-, ' Kil 10 0 101 3 9 J! '/,■■.■• 1930-51 - lf'o B 0 10G 5 0

GOLDSBROUGH, MORT

KEM.TEI) PROFITS Reduced wool-selling commissions and other earnings on the one hand. and larger expenses and taxes on the other hand, have caused the profit of Goldsbrough, Mort and Company, Ltd.. Ujv the year ended March 31 to fall bv £97,640 to £93.190, or only 4.1 per cent, on capital. Nevertheless shareholders have again received £144.000 a- a 6 per cent, dividend, the distribution requiring the withdrawal of £45 810 .rom undivided profits. in j the 'first nine months of the present wool-selling season the average price realised m Australia for wool was only i).Jd per lb, compared with 16d in the corresponding period of ISMd-d*. Fortunately in recent months there has been an appreciation of prices. which appears to be based on a solid consumptive demand. A factor which has contributed to the smaller profit i<; the prolonged selling season, for although 12.200 more bales had been -oce'ved into store by the date of balance C 1.200 fewer bales had been sold 'or shipped. A considerable portion of the carry-over of 61,900 bales has been disposed of since. Results since 1933 are:— 1933. 1934. 1935. Rales handled 327.100 318.000 253,800 £ £ £ Gross earnings 508,700' 615,700 566,400 Expenses 275,800 284,100 305,600 Interest .. 97.200 91,800 87,500 Taxes . . 46.700 31.800 61.900 Depreciation 12.000 12.200 13,200 Profit .. 76.980 195,830 98,1'0 Dividends .. 60.000 144,000 144,000 I Per cent. 2i 6 6

BANK OF ENGLAND RETURN (OTITBD PKEBB ASSOCIATION— Vt MJSCTBIO TKLEGKAPH —COFTRIOHT.) LONDON, June 20. Toe following !« the Bank cf England return lor the week ending June 20:— ISSUE DBPAfiTMENT * & Notes leaned— Gon. debt 11,015.100 In circuln- Other Govt. tiou 395,729,805 eecuri. Iu bank- fos 246,874,319 ingdept. 50,986,503 Other seen. ■ ritles 010,7tfl Silver coin, 1,791,800 Fiduciary issue 260.000.000 Gold coin & bullion 192,716,33b Total 4?2,716,335 Total 452,716,335 BANKING DEPARTMENT Proprietors' . Govt, secucapital 14,553.000 ritics 94,941,044 Tl-e rest 3,305,810 Other seenPublic do r^ies ~". posits 13,594,820 Discounts Other deposits— and adBankers' 104,025,623 vances 5,794,919 Other ace. 37,005,143 Securities 14,127,294 Seven-day Note 6 56.986,5.i0 and other Gold and .bj[] g _ silver coin 094.609 Total 172,544,396 Total 172,544,396 Proportion of reserve to liabilities, 37.30 per cent.; short-dated bills, 8 per cent.; three months' bills, I per cent.

FOREIGN EXCHANGES

(BBITIBH OFFICIAL WIBELESS.) RUGBY. June 20. Par. June 19. Juno 20. Paris, fr. to £J .. 124.21 74 47-64 74 31-82 l\ew York, dol. to £1 4.8G6 4.93g 4.98jj Montreal, dol. to £1 4.866 4.93& 4.93g Brussels, belgaa to £1 85 29.16 29.15 Geneva, fr. to £1 .. 25.2215 15.10 15.081 Amsterdam, fl. to £1 12.107 7.261 7.251 Milan, lire to £1 .. 93.47 59 7-16 59^ Berlin, reichmarken „„„-, in n» to £1 .. ■• 20.43 12.251 12.21 Stockholm, kr. to £1 18.159 19.90} 19.901 Copenhagen kr. to£J 18.153 22.391 22.891 (Jo kr to £1 .. 18.159 19-901 19.901 Vienna, schgs. to £1 34.585 26* 26{ Prague, kr. to £1 .. 164.25 117£ 1171 HeWo«._ marks Madrid pesetas to Lisbon, csondos to £j ~ 110 HO U0 Athens, drach to £1 875 515 515 Bucharest. lei to Si .. 818.6 4822 485 Belgrade, dinars .. 25.2215 21.6 21.6 Rio ae T&nf iro pence to milreis .. *-592 4J H Ts? 29 8-16 29 3-16 Montevideo, pence to Bn.uk P-c. to i 3 ißi m Pence to # n -z /or- DBn r° • m m Yokohama penco to Batavi". guilder* !! 12.107 -221 Warsaw, par zlotye to £1 -■ «-M -, 26 - la • Determined by price of BiWer.

FOREIGN EXCHANGE RATES The Bank of New South Wales. Christ church, quoted the following rates as ml ing yesterday for its purchases and sales of foreign exrhßnse All ratee are subject to alteration without notice: London- Buyin* SeUiius iA.Z. to £ otg. 100 T.T L 24 124/10 O.D. 12J/10 124/8,1) Australia— _ £& to £N.Z. 100 .. T.T 101 100,10 O.D. 101 100,10 F 'il~to £N.Z. 100 .. T.T. 80,7,6 89 O.D. 90/7/6 83 New i'ork — Dollars to £1 N.Z. T.T. 3.99JS 5.95 i O.D. 4.00* 3.95J Montreal— , Dollars to £1 N.Z. T.T. 3.99g 3.952 O.D. 4.00& 3.964 I Austria— _ Schillings to £1 N.Z. T.T. - 20.57 O.D. Belgium— „ BeVs to £1 N.Z. T-T. - 23-107 Czechoslovakia— Crowns to £1 N.Z. T.T. - 94.45 O.D. Denmark— Kroner to £1 N.Z. T.T. 18.208 17.87fc O.D. 18.248 17.888 trance — Francs to £1 N.Z. T.T. 60.91 59.31 O.D. CO.OI 59.36 liermanjEeichmarka to £1 HZ .. T.T. O.D. Uoltund— Florins to £1 N.Z. T.T. 6.960 6.716 O.D. 6.016 6.720 'tire""to £1 N.Z. .. T.T. - 47.34 O.D. JavaFlorins to £1 N.Z. T.T. 5.915 6.690 O.D. 5.965 6.694 NorwayKroner to £1 N.Z. T.T. 16.200 15.870 O.D. 16.240 15.880 SwedenKroner to £1 N.Z. T.T. 15.790 15.460 O.D. 15.830 15.470 Switzerland— Francs to £1 N.Z. T.T. 12.341 11.941 O.D. 12.416 11.951 Mouinea—Francs to £1 N.Z. T.T. 61.56 58.56 O.D. 61.96 68.61 Papeete— Francs to £1 N.Z. T.T. 61.56 58.56 O.D. 61.96 68.61 Hong Kong— N.Z. ponce to Idol. T.T. 34 9-32 3511-32 O.D. 84 5-32 S5 9-S2 India and Coy lon N.Z pence to 1 rup. T.T 22g 22 23-32 O.D 22i 22 21-32 J a nan— N Z pence to 1 yen T.T. - 17 13-10 O.D. "•'hanghai— N.Z. pence to 1 dol. T.T. 2315-16 251 O.D. 23 13-16 25 3-16 Bingaporo— N.Z. pence to 1 dol. T.T. 319-32 85 7-82 O.D. 34 5-32 85 5-32 T.T. represents telegraphic transfers; 0.D., on demand transactions. DOLLAR RATES

In anticipation of an ultimate return to a profitable price for wool, which would augment the company's commission earnings, the market values the £1 shares at 30s 3d to return 4 per cent. Book values Rive each share a tangible backing of 33s lOd. Considerable revenue is derived from advances to primary producers, but prevailing lower interest rates make this business comparatively unprofitable. The following balance-sheets show an increase in advances, which probably would have been repaid from the proceeds of the sale of the carry-over:— 1934. 1935. Assets— £ £ Cash and securities 1,103.000 510.000 Debtors .. 4,215,000 4,649,000 Merchandise, etc. 45,000 52,000 Properties and stock .. 229.000 221,000 Plant .. .. 37,000 39,000 Premises .. 640.000 664.000 Shares held .. 35,000 35.000 Total , .. 6,304,000 6,170,000 Funds Used—"Sundry liabilities .. 783.000 6~5,000 Debentures .. 1,419.000 1,419,000 Capital .. 2.400,000 2,400,000 Undivided profits, etc. . . .. 1,702,000 1,656,000

Total , .. 6.304,000 6,170,000 ♦lncluding dividend recommended (£96.000 in 1935).

COMPANY NEWS DIVIDENDS G. J. Coles and Company, Ltd.—Ordinary, at 10 per cent, per annum (unchanged) for quarter ending June 30, and preference at 8 per cent, per annum for half-year to that date, payable July 15. Edwards Dunlop and Company, Ltd., a merchant and wholesale stationery company, Sydney, reports a net profit of £30,880 for the year ended April 30, compared with £29,215 the previous year. The dividend is again higher, having been raised from 6J per cent, to 8 per cent., in quarterly distributions of 7J, 8, 8, and 8£ per cent, per annum respectively. The dividend charge is £25 780, and £SOOO is transferred to reserve, leaving £27,194 to be carried forward, against £27,094 brought forward. The Goodyear Tyre and Rubber Company (Australia), Ltd., has declared a half-yearly dividend of. 8 per cent

Tho Associated Banks (other than the Bank of Now Sou+b Wnlesl quoted tlie following dollar rates yesterday, od a New Zealand currency basis. They are subject to alteration without notico: U.S.A. Canada dol. dol. (per £1 (per £1 N.Z.) N.Z.I Selling .. .. T.T. 3.95| 8.955 O.D. 3.953 3.9P* Buying ... O.D. 4.001 4.00JJ

COMPANIES REGISTERED j Tho current is«ue of the "Mercantile fiazetto" notifies the registration of the following new companies:— Adams Pharmacy, Ltd.—Reßistcred as a private company. June 10. Office: Kaiapoi Cnpitnl: £7OO, into 700 shares of £1 each Subscribers: Kainpoi—H. L. Adnms 009, M. A. M. Adams 1. Objects: Chemists and druggists and incidental. Vnctric Radio Company, Ltd.—Registered as a private company, Mny 30. Registered office: 45 Moray place, Dunedin. Cnpitnl' fSOO. into 500 shares of £1 each. Sub scribers: Danedin—H. A. Hopf? 225, J. \V Scurr 225. Objects: Business of radio, wireless, and vacuum machine dealers and importers and general incidental. Millar and Tunnase, Ltd.—Registered as n private company, .Tune 1. Office: Carey's T?ny, Port Chalmers. Cnpitnl: £6OO, into 600 shares of £ 1 each. Subscribers: Port Chalmers —M. H K. Field 200. St. Leon nrd's—A Miller 200. A. G. Tunnage 200 Objects: To enrry on the business of boat builders and general incidental. Increase of Capital Martin's Furniture Company, Ltd.—Capi tnl increased fro £4OO to £IOOO by creation of 600 new shares of £1 each. (Dunedin.) Ben Lomon-l Gold Mining Company. Ltd.— Capital increased from £IOOO to £IOBS by creatio.v of 85 shares of £1 each.

MINING BULOLO GOLD RETURN Mr Fred. G. Dunn, attorney tor Clutha Development, Ltd., advises of the receipt of the following Bulolo production repor* for May:For the month of May the total gross production from dredges Nos. 1, 2, 3, and 4 amounted to 15,059 ounces of bullion, containing 10,377 ounces of fine gold from 890,000 cubic yards. The estimated working profit was 7198 ounces of fine gold. The above production is equivalent to £92.095 17s 6d, and working profit to £63,882 ss, on the basis of £8 17s 6d (Australian) a fine ounce of gold. BISMARCK DIVIDEND Bismarck Range (Lucknow) Gold Exploration, N.L., 9d a share, payabl* on June 26. The last dividend was 1« a share. GOLDEN DAWN RETURN f The Golden Dawn return for 11 working days ending June 10 from 283 tons of ore treated, was £lslß, with gold at £7 2s an ounce.

MAHAKIPAWA REPORT The report, for the period ended Jun« 19 states:— North blocking strip has been advanced to 17 feet in poor grade wash, which is down to within 12 inches or the floor. Co-ordinate? of this face — 1440 south x 158 west. South blocking strip is now out to 10 feet, during which the bottom has risen right up to the back laths. This face stopped toi the time being. Co-ordinates—l 474 south x 163 west. No. 2 blocking strip south on the east side of No. 1 has been taken out for 5 feet in wash showing some gold. The bottom }n tliis face also has a tendency to rise. This strip is being turned slightly to the east so as to pass just ahead of. the south crosscut which nov appears to be p out the centre of the gutter. A furth r blocking strip has been started to tht east of the' south crosscut close to whert the eastern wall should be, and is headed due south, tha bottom being about 2ft 6in from the floor.

WAIHI RETURN 4124 OUNCES FROM 16,777 TONS [THE PRESS Special Service.] AUCKLAND, June 21. ' The following information has been cabled to the London office of the Wa : hi Gold Mining Company (Waihi),' Ltd.:— s For the period ended June 8, compris ng 21 days, 16 777 tons of ore wera crushed for a resuU of 4124 fine ouricea of gold, and 26,023 fine ounces of silver. This inc'udes 1587 tons of ore mined from the Waihi Grand Junction area, which yieM'd 411 fine ounces of gold, and 1350 fine ounces of silver. Development Work —The level lod« situated a 1 10ft, in the Hooper crosscut, has been driven on to the "west for a further 44ft. The average assay ' value is 32s a ton, and the average width of the lode is 214 ft. No. 7 Level, North Branch of Martha Lode—Driving west in the next the assay value is erratic, the width of the vein being about 9in; No 13 Level, Edward Lode—Driving south the next 28ft assays 3s 6d a ton. Ulster Lode—For the first 51ft of driving west, the assay value is 20f 9d a ton, the width of the lode being about 3ft.

KING SOLOMON RETURN (PBICSS ISSOCtATIO* TELEQRAM.I INVERCARCrILL, June 21. The wash-up at King Solomon Mine this week was 660z 4dwt. METALS MARKET

RECEIVERS APPOINTED OLD ESTABLISHED WELLINGTON COMPANY An advertisement in this issue notifies the appointment of receivers for the warehouse firm of George and Doughty. Ltd.. who have been established in Wellington for more than 40 years. The joint receivers are Mr L. H. Heslop, public accountant, of Welling- , I ton. and Mr H. J. Fills, public accountant, oi Auckland, who for the : inst three years has been engaged - liquidating, the ! sffnirs of Messrs • Maeky, Logan, and Caldwell,

HALF A CENTURY OF BUSINESS

NAIRN AND SONS I rir.DLN'G GARDENS FOR CANTERBURY To Canterbury belongs the oldest ruirx-ry firm in New Zealand, Nairn ..Mel Son.;, who for more than half a (•• nUiry have been in business on Lincoln road, ft was founded by ;.!r Daviil Nairn, and is carried.on at present by Mr Robert Nairn, his David. Nairn, a farmer in Fife-;-;:;::e, Scotland, decided in the early '::i:;t.ic;s to come to Now Zealand and bring with him his wife and family. Hi.-j desire to farm apparently deserted him when he arrived in the colony, and he went into business, ;mi activity for which few farmers »irc ideally suited. David Nairn soon lest till his money. However, he set to work, and having always taken a great interest in horticulture, launched out as a jobbing gardener, a trade for which the growing city offered many openings. Jobbing gardening gave David Nairn the idea that a nursery would be a paying proposition in a part of the world where the ruughness of the first settlement was beginning to give place to the refinements that came with * 'ablishrnent, and he and the whole family began to look forward to the day when the nursery could be started. , , In l'6"id an acre of ground was bought on Lincoln road, a part of the town that was at that time well removed from the centre of things, iind a nursery was started. There was at that time a very regular dematid for trees and shrubs for planting, many of the settlers, having built their homes on exposed sites, realising that trees would make a very great difference. Trees were then in the boom, and all over the plains plantations for shelter were being established. They were good years, and David Nairn, whose motto was the good old Scottish one, "Never stretch your hand out further than you can draw it back," used the time for consolidation. The 'Eighties Slump This consolidation was timely, because in the 'eighties there was the clump which those who can remem-

fccr it say was much worse than that of the last five years. For 10 years the country was in the grip of this depression. Unemployed were given work on the roads at 3s a day, trade was almost at a standstill, and very many firms that had expanded rather more than was warranted in anticipation of a continued prosperity in the young country, went under. Nursery stock, which was a luxury not needed for the immediate preservation of farmers and landowners, was one of the first lines to be neglected, and the Nairns (the sons were in the business now) suffered as much as any. They saw their competitors drop out under the strain, but as their business was confined to a family that was content to accept little payment, they survived. As soon as times Improved David Nairn saw his chance of improving his oosition to a point where he would be unassailable in his own particular trade, and he bought more land. He also pursued an active policy of importation, not only of the standard lines that began a fain to be asked for, but also of novelties from all parts of the world, for which keen gardeners were prepared to oay good nrices. The conduct of the firm was still conservative, but this very conservatism established for it a standing in the community which it has never lost. So wide was the reputation of the nursery that for a number of years a thriving trade was clone with Australia, particularly in novelties, m which the Nairns had the pick of th*> market. , It would naturally be expected Ih, t a iirm which was established in the very early days would have kid something to do with the development of the fine reserves and r;»bHc gardens that are the pride of Christchurch. and this v/as the ere Vpry man» of the trees and -••'-.rubs in the Christchurch parks reared bv the Nairns. and very !"-,r,v wer** given to the city by tv fi-m Everv Japanese maple in r- wardens was a gift to the citv. M- James Young, during hiss 20 years a« Curator of the Botimi- Gardens. cho«e freely from the extensive stocks of the Lincoln road nursery, taking shrubs of all kinds and many novelties to furnish the gardens under his control. Beside thr? ChrMrhurch gardens, many other public gardens in Australia aid New Zealand have bought from Mairn and Sons. Prosperous Times The Nairns had a Parous time from the 'eighties on till the war. When the single men began to y> overseas there was not a Vi e . a ' of difference in the trade, but-when the married men were called up, planting of almost alsorts cam practically to a standstill. After tne. war there wan. of i»o| prity in which everybody snarea but in the preset deorasstor nur •erymen have *•* Other people. J***** B JS now, with new lift *n& household*** «werhauiwtf

CANTERBURY LAMB PARITY OF PRICES CONFERENCE OF FARMERS TO BE CALLED The disparity which it was slated existed in the freezing companies' schedule price for Canterbury lamb and London parity, as published by the New Zealand Meat Producers' Beard, together with the causes for the difference in prices offered by some freezing companies, was discussed in camera at the meeting of the Mid-Canterbury Provincial Executive of the New Zealand Formers' Union at Ashburton yesterday. On resuming in open meeting it was repoxted that the following resolutions had been carried:— That the executive arrange a conference between the executives of the Farmers' Union and agricultural and pastoral associations in-Canterbury to consider the frozen meat industry, Including grading. That the South Island Federation of Freezing Companies be written to asking the reason for the disparity In their schedule prices and London parity as published by the New Zealand Meat Producers' Board. That a remit be sent to the Dominion conference of the New Zealand Farmers' Union advocating that no director of a freezing company be eligible for a seat en the New Zealand Meat Producers' Board. It was agreed to arrrnge the conference as soon as possible. WHEAT MARKET CARGOES, PARCELS, AND j FUTURES LONDON AND LIVERPOOL QUOTATIONS LONDON, June V.O. Wheat cargoes are lower. Parcels are easier. Futures are quoted:— June 13. June 20. s. d. s. d. London (a quarter)— June .. 22 10 23 5 September .. 22 !) 22 5 Liverpool (a cental)— July .. 5 2J 5 21 October .. 5 3& 5 3\ December .. 5 33 5 ii March .. 5 Spot trade i 3 quiet, Australian, ex ship, 27s 9d.

PRODUCTION OF WHEAT IN BRITAIN PRE-WAR AVERAGE REACHED j (Received Juno 21, 7.5 p.m.) LONDON, June 20. The Standard Price Committee has reported to Mr W. E. Elliot (Minister for Agriculture) that there are now 1,838,000 acres of wheat in Britain, compared with 1.250.C00 in 1931. Production was thus restored to pre-war average. The committee was unanimous that it was not desirable to alter the standard price of 455. BUTTER MARKET A. S. Paterson and Company advise that they have received the following cable advice from their London principals. Messr3 J. and J. Lonsdale and Company, Ltd., with regard to dairy produce markets: — Butter—Market firm owing to lower production of colonial butter and adverse weather in Europe. New Zealand 89a to 00a. Australian BGs to 87s, Danish 81s to 82s f.o.b. Cheese—Market is generally better in tone. White cheese 44s Cd, coloured cneese 445. The National Mortgage and Agency Company of New Zealand, Ltd., advise having received the following cable message from their principals, Messrs A. J. Mills and Company, Ltd., London:— Butter—Market is firm, Finest Bfls, firsts 83s, Danish 102s, f.o.b. 82s, Australian 86s. Cheese—Market is steady. "White and coloured 44s to 44a 6d. Canadian white and coloured 60s to 625, Canadian c.i.f. 58s to 60s. A cablegram received by Dalgety and Company from Samuel Page and Son, dated June 20, states:— Butter—Market firm. Danish f.o.b. 81s to 823, finest New Zealand 88s to 393, finest Australian unsalted 85s to 80s, and salted 86s, g.a.q. 81s to 83s. Cheese—Market steady. Quotations: New Zealand white 44s Cd and coloured 44s to 44a 6d, Canadian snot white and coloured 58s to 645. N.Z. BUTTER TOUCHES 90/IN LONDON (ujrtTED pner-ia association—a? blhcthio TELtnuApa—copYjtionr.) LONDON, June 20, The butter market is firm. Quotations: Dcnish, 102s; choicest salted and unsalted New Zealand, 80s, 00s; Australian, 86s. The cheese market is steady. Quotations: New Zealand, white 44s Cd, coloured, 445, 44s 6d; Australian, white 425. 435, coloured 425, 42s Cd. « '"' '

their gardens after five years of forced neglect. David Nairn, the founder, died in 1916, and a memorial plot in the Botanic Gardens commemorates his gifts to the city. The firm is now in the hands of Mr Robert Nairn, his son, who is very widely known througnout New Zealand as a horticulturist. He has served on various public bodies, but takes more interest in the Selwyn Pantations Board than any of the others. He was a foundation member of the board, and is still among the keenest. Mr Nairn is one of those rare and happy men. His work has been to him not nearlv so much a commercial proposition as a hobby. Throughout his life he has had to to remember that he is in the business to make a living and not for pleasure, and verv often it has b*en hard for him to dragoon his bobby In this way. The nursery to-day is a nicture of its owners character. There are severe com-mercial-looking rows of Riant* everywhere In the eight acres of wound bnt each odd corner has in it some plant that Mr Nairn grows for his own pleasure and not for

CANTERBURY MARKETS A QUIET WEEK Cbt ohe soisitxaciix aorros.) .Friday Evening. The potato market is unchanged, though the tendency at the moment is slightly weaker. A few enquiries are coming to hand, but they are such as are not likely to lead to business. Prompt Dakotas are being quoted at r - 6 5s a ton f.0.b., s.i., and whites at. £6 5s to £6 7s fid. July-September quotations are unchanged at £7 ss. Information from Auckland is to the effect that the high price in that city is restricting consumption. The Waimarino lifted nearly UOOO sacks at Lyttflton in addition to her southern complement. The Waipiatn is now in the south, and will be lifting potatoes at Bluff. She is due here next Wednesday or Thursday. With the disappearance of the snow from the low country the recommencement of digging will be possible to fill the deliveries due this month. Values on trucks at average stations are £5 a ton - - i The oats market is very firm, although there is little local business passing and practically no shipment from the south to the North Island. A Cartons are quoted at 3s Cd to os 7d fob si. business having been done'at'these prices. B's are worth 3s 3d fob si. Values on trucKS are 2s lid for A's and to 2s 7d for ii's. Ine scarcity of oats in Otago and Southland is having a strengthening effect on the local market. Singularly enough chaa in meeting with very little enquiry in spite of the rougn weather passed through. Values on trucks are £3 5s a ton. _ The partridge pea market is firm and unaltered at recent quotations—--5:5 Od a bushel on trucks. There is no overseas enquiry so far. Prices in other branches of produce are unchanged, and there is very little business passing.

Quotations The following are quotations for produce paid to farmers on truck.", free of commission, sack's extra, except where otherwise stated:---Wheat—lnterim payment.) for June: Tur.-an 4s 3d, Hunter:-; Is sd. Pear) and Velvet 4s 7d, f.0.b.; fowl wheat, 4s 3d, f.0.b., s.e., for "free." Oatj—Algerians to 2s 4d a bushel; Cartons, A's 2s lid, B's 2s 7ck Duns to 3s 3d. Onions—£l2 to £l2 10s a ton. Potatoes—To £5 a ton. Perennial Ryegrass—2s 6d to 2s Od a bushel. Italian Ryegrass—2s Cd to 2s Del a bushel. White Clover—fid to lOd per lb. Cocksfoot—To lOd ner lb for Akaroa. Dd for Plains. Red Clover—Cd per lb. Chaff—£3 5s a ton. Flour— £l2 7s a ton, local; £ll 12s shipping. Brail —Large, local, £4 15s, small £5 ss; shipping £4 10s. I Pollard—Large £5 ISs, small £6 ss; shipping, £5. DUNEDIN (I>KE33 A3:iO!:liT10B VZUSOKAUA DUNEDIN, June 21. The broken weather has prevented deliveries of milling wheat from the country. There are not many lines of mi limy wheat now held by farmers. The trade in the fowl wheat market is on the quiet side, and merchants prefer at the present time to work on their existing stocks. There is no change in values in the local market, ii.-st quality is worth 4s 3d a bushel, sacks extra. The oats market continues firm with few stocks available in Dunedin stores; there are practically no offerin,:;;; from farmers. Higher prices are being recorded at Canterbury ports for shipment to the North Island. Present values to growers in the country is on the basis of 3s a bushel, sacks extra, for heavy A garlons, 2s lOd for ordinary A's, and 2s 7d for IJ's. Seed oats still have a fair demand, but lines suitable for this purpose are difficult to obtain. The chaff market is firm in .sympathy with the price of oats. No volume of business is being transacted, and sales are cruelly confined to small lots ex stores. Broken weather is preventing supplies being obtained from the north; but stocks in hand are sufficient at the present time to meet the demand. Lot;; ex stores are selling at up to £5 10s a ton, sacks extra. Supplies of potatoes in Otago are now easing off, and the quantity in hand in the stores is on the small side. A fair number of consignments coming forward are under grade, and these are difficult to sell. Dost quality potatoes are selling at slightly advanced prices, and Arran Chief today are worth £5 15s a ton, sacks included. ' King Edwards are selling at 10s a ton more. It will not be long now before the local market will have to draw supplies from South Canterbury. A few lines have been sold for shipment to the North Island from this port and also from Bluff. | Little business is being recorded in seed lines. Export business is negligible, but some lines of ryegrass have been shipped to England. Brown top and Chewing's fescue are not enquired for and few transactions have gone through for export during the last fortnight. ] The market for cocksfoot remains unchanged. Stocks of this seed are on the light side, and it. is anticipated that all holdings will be required for the spring trade. The current quotalion for certified Akaroa cocksfoot is Is %\d per lb on trucks, Christchurch. Cowgrass seems to be in over supply, and this market is quiet. Farmers' dressed lines are offering from Canterbury at Bld to 9d per lb.

ASHBURTON MARKET Pecansn of tlio '.vet weather ilnrinf; the wc-l: business lias been fairly quiet. The pot.-Uo market remains firm as tho ground has not horn in a fit stale f<> tli','?ins, 'ho result buinc that fewer linen have, been offerin:," and lighter shipments have gone forward to tlic North [sintid. Very few lines of milling wheat am now mi the market, moat growers bavin;; di: T.npod of their crops. Tho price of fowl wheat having been reduced (o 4s Id f.o.h. by the Wheat Purchase Hoard to the North Island values of this commodity have now eased. Thorn is a strong demand for fiarton oatn r.tiitnbln for seed and it nppoars that there will ho n. shortage. Any lines of heavy weight are rawly sought after. Dun oats of trood" colour aro ir. strong demand but supplies aro unobtainable. Oatshoaf ohnff is not meeting with tlio demand it would appear to warrant. Tlio market for partridge, peas romnlns quiet in the absence of Homo enquiries. .'-'/ mall seeds remain firm at recent quotation «. Tho following nro prices to bo paid to farmers, on trucks at country st.ition?, sacks extra unless otherwise mentioned :■ —- Wheat —New season's: Tu-.-ean 4n .Id. Huniors 4s 5,1, Pearl ni-d Velvet. 4s 7d (all f o b.). Good whole fowl wheat 3s Bd. Wheat seconds 3s rid to Ha fid. Outs —flnrtons 2ii Od to 3s, Algerians 2p 3d to 2s fid. Dunn 2s 9d to 3s n bushel. fhatf— flood bricht oatsheaf £3 5s n ton. firass Seeds—Perennial Italian and Westen Woltlis 2s Od to 3s. cocksfoot lOd, white clover fid to !)cl, red clover fid. Partridge Peas—No, 1 grade 5a lOd, f.a.q. ss. Potatoes —Whites and Dakotas, JU 15s a ton. PIGS AND POULTRY SALE AT ASHBURTON Thero -was a rood yarding of p%s and poultry at tho Farmers' Mart yesterday, when prices realised rnnjred ns follows: Poultry—Hens, Is 3d to 2s 7d a pair; roosters, .13 7cl to -i« Id; ducks, 3>J Id a pair; geese. 43 2d n pair. PißS—Bncon'ers, £2 3s fid to £2 ltis fid each; choppers, i'l Us to £2 3a 6d: porkers. £1 Cs (id to £1 14* 6d; utoreo, £1 to £1 8a «d; weauffirs and slips, iO» to 13s G&,

I FRUIT MARKET CHRISTCHURCH The market report for the week ending June 21 states: — ' Vegetables—Cauliflowers: Best quality, 4s to 6s a dozen; others, Is to *~. Cabbages: Best quality, 5s to 6s a dozen; others. 3s to ss. Ccler.y. B«.st duality, 5s to Gs 3d a dozen; other* 2s to ss. Spinach: Best quality, 1* Gd to 2s a dozen; others, fid to Is. Ltttuces: Is to 2s Gd a dozen, according to quality. Rhubarb: 3s to 5s 6d a dozen. White turnips: 6d to is a dozen. Beetroot: 9d to Is 3a a dozen. Parsnips: Is to Is 6d a dozen. Radishes: Cd to 9d a dozen. Spring onion.. Cd to Is a dozen. Leeks: Best quality, Is 6d to 2s 3d a dozen, others is to is 6d. Pumpkins: Supplies plentiful, realising id to id per lb. Marrows: In plentiful supply, realising Is to *s a dozen, according to quality. Brussel sprouts: 4Jd to Cd per lb. Swedes: Local Is a sugar-bag* Southland Is ba to 2s a sugar-bag, according to quality. Potatoes: Fair supplies coming to hand, realising 2s 5d to 3s 6d a sugarbag, according to quality. Onions: Best quality, 6s to 8s a sugar-bag, others. 4s to ss. Pickling onions, Is Gd to 2s a sugar-bag. Parsnips: 2s Gd to 3s a sugar-bag. Carrots: Is to Is 3d a sugar-bag. Fruit:—Apples: Good supplies coming forward, and values are as follows: Jonathans: Extra choice up to Gs Gd a case, others, 5s to Gs. Delicious: Extra choice up to 7s Gd a case, others 4s to Gs. Cooking Apples: Lord Wolseys 7s a case, other varieties, 4s to Gs a case. Tomatoes: Best quality local hothouse Gd to C?d per lb: inferior lines, 2d to 5d oer lb. Pears: Choice dessert, 3s Gd to 4s a half case, cooking 2s Gd to 3s a half case. New Zealand lemons: 7s Cd to 10s Gd a case. New Zealand Ponrmans: 8s Gd a case.

Imported fruit: Supplies of Calif ornian valencias. lemons, and grape-fruit are available, and values are: Valencias 35s a case, lemons 3Gs a case, and grnnefruit 34s to 35s a ease.

Shipments arriving from overseas-—A further shipment of California valcnc;as i<; expeeted early next week, and also Cook Island oranges. DUNEDIN U'ltKriS ASSOCIATION Tr.'.EOßAll.l DUNFIDIN, June 21. The cold weather has had the effect on busme?s in the fruit rnarts, and a quiet week ha?: been experienced. Supplies, both of desert and cookin;; apples, are still available, with the demand confined to choice quality only. Dessert pears are offering freely. A shiomont of Californian oranges arrived 'during the week, and a further simply is expected ex mail due Wellington on Monday The iirst of the South Australian oranges is due to arrive on Tuesday week, ex Waitaki, and these will meet a ready .sale. Lemons, both Californian and New Zealand grown, are plentiful. Odd lines of hothouse tomatoes are still coming forward and realising Rood values. Bananas are plentiful and rather slow of sale.

PRODUCE MARKETS LONDON QUOTATIONS LONDON, June 20. Flour is quietly steady. Australian, ex store, 21s, 21s 3d. Oats are firm. Peas and bc-n." are unchanged. MELBOURNE QUOTATIONS MELBOURNE, June 21. Quotations are:— Whcat-3s 2ld, 3s 2Jd. Flour—£ll 2s Od. Bran—£4 15s. Pollard— £5. Oats—2s 4d, 2s fid. Bsrloy—2s 7d, 3s. Maize—4s lid, ss. Potatoes— £8 15:;. £9 ss. Onions— £8 ss, £3 15s. NEW ZEALAND HONEY, LIMITED LAST YEAR'S TRADING IPKB3B «.ssor.uTio» rr.LEonAit.) HAMILTON, June 21. Satisfaction with the operations of New Zealand Honey, Ltd., in thefir.t v-nr of it'; existence was voiced b> the shareholders at the annual mcciin" at Hamilton. " The chairman <Mr W, Nelson) Bam a pay-out of at least 4Jd a lb would be made on last year's Irving when the accounts were completed On the nrc-ont yenr's; operations there w,u every reason to hope for a disbursement of 4/3 or 5d per lb It was stated that about id pel cent of the honey produce was sold on the local market, and it was essential to gain shelter for organised marketing. _, T The retiring directors, Messrs* U Irwin and A. B. Callick, were reelected unopposed.

BEEKEEPERS CONFER (raisa ahsociatiow teu'.giub.l HAMILTON, June 21. The following officers have been elected by the Dominion Conference of the National Beekeepers' Association: —President, Mr W. Nelson (Otorohanga); vice-president, Mr A. Acroyd (Christchurch); executive, Messrs W. G Short (Feildinß), P. A. Hillary (Auckland), I. Irwin (Southland), and L. Robbins (Tcmuka). The winners of the Isaac Hopkins Memorial Essay competition were announced as follows:—E. A. Petersen (Lfvin) 1, W. J. C. Ashcroft (Havelock) 2, C. A. Pope (Christchurch) 3, Miss D. W. Dalgleish (Hastings) 4. EGGS AND POULTRY WEEKLY MARKET REPORT, Macfarlane and Company report as follows on the Christchurch egg market:— First gracfb, Is 10d and Is IOJd a dozen; second grade, 1:; 9d a dozen; duck eggs up to Is 10id a dozen. RED COMB EGG AND POULTRY COMPANY The Red Comb Egg and Poultry Company report that all classes of poultry sold readily at the sales on Saturday and Wednesday and values for good quality boilers rose by 6d to Is a pair. At Wednesday's sale a heavy supply of duckling came forward, a proportion being short of finish for which the demand was poor. The supply of boilers and medium chicken is short of requirements and those offered are readily disposed of. The average prices realised for poultry during the week a pair are as follows:—Roasting chicken, light, to 4s 9d; medium, to 6s 6d; heavy, to S3 6d. Hens, light, to 4s; heavy, to 6s 3d. Ducklings, to 7s. Ducks, to 4s 6d. Goslings, to Os. Pullets, to 12s. Turkeys, 8d to lOd per lb live weight. Eggs—Tested. Machine graded. Guaranteed fresh. First grade, Is lid; second grade, Is Od.

GROCERY TRADE PROSPECTS AND PRICES The week's trading has been quiet for most retailers owing to the recent bad weather, this affecting cash sales for many shops. Next week should see considerable activity in the wholesale trade as June 25 orders on hand are satisfactory, and the usual deliveries will be made during the week. The only price alterations of importance have been in butter, and also in sugar, syrup, and treacle. Desiccated Coconut The market in Colombo for desiccated, shredded, and flake coconut still continues very firm. It is now stated that the better prices ruling for copra, along with the present seasons crop of undersized nuts, is the cause of the recent advancing market for manufactured coconut. Sunlight Soap The price of Sunlight soap has been advanced 2s a case owing to the higher cost of raw materials. Raisins A small shipment of Australian needed raisins has arrived, and importers are very disappointed because only a small part Oi their long-delayed orders came to hand.- Further shipments are to come forward, but the small quantities just received are totally inadequate to fulfil orders. Retailers who purchased to arrive will understand (if they should get none out of this landing) that there was not enough to go round. It is stated that in some instances the delivery was under 10 per cent, of the orders sent to Australia. The market in California for raisins for prompt shipment has weakened a trifle for both seedless bulk and cartons, whilst golden bleached (new season's) are also slightly easier. This may be a temporary movement, and in any ease it is not of sufficient size to disturb the market. Sugar Reduced ! Prices of all grades of sugar have been reduced by 10s a ton as from to-day. Golden syrup and treacle have 'also been reduced by the same I amount, and the same remark applies [ to cut loaf sugar. This reduction is a surprise to many retailers, as recent indications did not lead to the belief that sugar prices would weaken. Peanut-j Java shelled peanuts quoted this week, show a v..ry lirm and rising market. During the last few months this line has moved up by about £3 10s a ton. The quotation above is for arrival in about two months' time. Tea New season's China bud tea (Panyen) wa3 offered this week for arrival here StpUmber. Pricey show an advance of 2d per lb over previous season's quotations So far. no prices are available for China leaf tea, but it is expected lha.t when they are issued increases will be shown. At the usual auction of Ceylon tea held last week in Colombo there was some irregularity in many of the better grades, owing to poor quality, but apart from this there was a strong demand and a lirm market, and many common lines advanced one to two cents. Average prices ruling at this auction ran as follows: —Broken Orange Pekoe, common 50 to 53 cents, medium GG to 72 cents; broken Pekoe, common 49 to 51 cents, medium 50 to 01 cents; broken teas, common 48 cents, medium 50 cents. Prices were not cabled for line quality. The Java tea market is reported to be very firm, and although no prices were cabled, the advice states that there is at present considerable activities by buyers from various countries, who are operating freely on the Java tea market. !

Butter and Cheese Prices of factory butter were increased by Id per lb < uring the week, owing to the improved outlook on the London market. So far, no movement is reported in cheese, but prices of this commodity are firm at the moment. Dried Fruits Private advices received from Australia by mail state that it has been notified by the Dried Fruit Board that prices of vine fruits to Australian merchants will be advanced on June 28 There is no mention as to the extent of the advance, but it is stated that very heavy buying was in progress by wholesalers and retailers alike. This advance will not, of course, operate in New Zealand, as Australian buyers usually pay different prices to New Zealand importers, but the advances in Australia show a very firm situation, and this mry later on spread to New Zealand. New season's Mediterranean currants can now be booked to arrive in November at slightly better prices than those ruling at the opening of the season last year. New Figs There has been a slight alteration in the prices quoted for new season's figs in bags, which show a trifle higher on latest cabled lists. Custards and Baking Powder In reference to a paragraph in thlSj column last Saturday mentioning that j a well-known line of custard and! baking powder would now be packed in 281b tins (in addition to the usual paci:). Messrs T. J. Edmonds, Ltd., haveadvised that it is not intended that these 281b tins should be broken and sold loose. This special pack is for large users only, such as hotels and boardinghouses, and not for any other purpose. SKIN MARKET CHRISTCHURCH VALUES The Christchurch Woolbrokers' Association reports having held its weekly skin sale yesterday, before the usual bench of buyers. Dry skins were slightly firmer, but abattoirs were easier, due to the wet weather. The range of prices is as follows: Sound. Faulty, d, d. d. d. Halfbrcd— Three-quarter to full-woolled .. 8 to !H 8i? Half-woollcd .. 7" »?, to G : ; Short .. 5£ 4:; Three-quarterbrcd— Threo-ouarter to | full-woolled .. CJ to 7-i f>.'. to 6,i Half-woollcd .. 6 4{ Short .. 51 32 Crossbred Full-woolled .. 6 Half-woolled .. 5-', 41 Short .. Merino— Three-quarter to full-woolled .. 7J ■Half-woolled .. (til Hoggets— Halfbrcd .. R\ C2 "felts .. 31 2 Green Skins s. d. s. d. Halfbrcd .. .. 2 4 to 8 9 Three-quarterbrcd .. 2 4 to 7 3 Crossbred .. .. 2 0 to 5 9 Hoggets .. .. 3 0 to 5 C KAIKOUKA STOCK SALE Messrs Pyne, Gould, QuinneKn, Ltd., held n stock eulo of cattle ond gheep on Thursday afternoon, when most lines forward were disposed of nt values equivalent to Adding ton prices. Four Jersey cows made ill each, two young cows £2 each, two empty hoifers 19s each, two fat empty cows ut JES 10s encli, Ave heifer calves .at £3 each. Sheep: 22 s.m. ewes at 14s fid, 35 forward wether lambs at 13a Hd, 6 at 17s Cd, 18 merino owes at 4b J Id, 10 wethers at 12b Cd, 0 empty ewes «t Bs, 20 mixed nex lambs at 10b Id, 24 ewes in lamb at 10s <>d, 15 empty ewes at 83, 6 fat ewes at 13« Id, S ewes nt 8a fid, 4 at Bs, 70 «n»e» it 12s, A lin,» of fat ewe* was passed at 9s 3d.

METHVEN STOCK SALE Tiio usual fortnightly slock solo was hold !n tho Mcthven oaleyards on Thursday, when there was u lnrp;u attendance of farmers prcrent. Tlicro was quite a fair yarding of both fats and store «heep penned, with a small yarding of cattle and pigs. In view of the recont wet spell, the condition of die sheep on offer looked anything but the best, but in spite of this a good sale resulted in both sections. Top price for fst lsmba waß 19s fid for u pen of 11. In the stores tho yarding was mostly holdover lambs, and for these, there was a ready sale, For anything showing quality in tho cnttlo Rood prlccti wore obtained, while pifts were nlso making satisfactory figures. Sales reported arc as follows: — Fat Lambs—ll at 19s Bd, £2 et 17b Bd, 42 at 14s Gd, 301 at 17s Id, 6 at lCs, C 5 at Ids, 21 at IBs lid, 4 at 17s sd, 63 at IKb 7il, ,'!0 at IPs 4d, 10 at 17s 4d, 15 at Ms (id, HO at Me lOd. Fat Kwes—Nino nt 12» 7d, 0 at 10s 7d, 0 tit 8s Cd, 51 nt 11b Id, 15 at 12s lOd, K! Nt 12s 4d, 27 at 9s 2d. Rtoro Shrcp—rip.l thrroqunrterbrcd ewe lambs at 2i!s, K!2 at 21s 7d, 5 at IGs Gd, 7 cull ewes at 5s sd. Cittic—One heifer at .E-l 7s Gd, 1 cow at ■trs, 2 at i'2 2s Cd, 1 heifer nt £7, 1 cow at £2 12s M. PiVk—Two porters at 20r Gd, 4 weaners nt 10s, 2 nt 7- lid, 4 at 15s, i) at lis 0(1, 1 at 9s Gd, 1 at 13s, 1 at lis, 4 at 9s. I at 4s. Potatoes made tip to 4s Cd a nianuro bag. BLENHEIM STOCK SALE tBrKCI/.L TO TUB I'fiSSS.) BLENHEIM. June 21. At this week's Blenheim stock sale there was an average drop of about Is for wethers and a little less for owes. No sale was held last week, and the market was oversupplied with an entry which was almost tt record for the season —there boing more than 1100 frits and (iOO r stores. Bidding was not nearly as brisk as at the sale a fortnight ago. There was a stronger show of wethers thnn usual in the fats section. A draft of 60 outstanding quality specimens offered on account of Ilouly Brothers. The Wilderness, fetched l!)s ifd, IDs 2d, and 18s lid. Another well-finished lot belonging to Mr J. Donald, Havelock, fetched 18s 7d to IKb Hd. Other prices ranged from Ifts to 15s 3d, Lnst auction prices ratified from 20s fid for two pens of "show" shoep down to 13s lid for other sorts. Ewes wero again at the top of the list ar, regards numbers, but the general quality was well below that of last nuclion, with a resultant drop in prices. Twelve attractive sorts offered on behalf of Mr Gcorirn firnham sold at 15s 9d, and other prices realised wero 15s 5d down to 14s sd, with 10s for lifrht-weißht specimens. Lambs made n poor showinpr, only nine being pennod. The prices obtained for tho three pens were 17s Id, 15s fid, and 14* Od. Round and failimj-moalh ewe* running with Entrlish Leicester and Sonthdown ram» formed the blucest portion of the utora seetion. Prices for these ranged from 15« 104 for n pen of 75 »ort» showing teood ivory, down to 13s 4d for a draft ot 25. A pon of 80 well-finished crossbred ewe Inmbn, fnr which bidding wm very keen, brought; IDs lid. Another pen of 80 rwr» l&mbt fetched 17i id.

—: — liotur u Approx on Ain't. market M * Div. mvea tpaid ft Appr mark ox. ct price, a yeur payable. ment apprc at Companies. ih'o. Buy ers Sellers. price . ago. 5 S _ .... .... _ mark prict £ £ a. d. £ s. d. £ S. d £, e. d. £ £ s. d. Banks — AuBtrala3ia Corura. of Aust. 5 10s 0 15 5 10 19 0 15 0 7 0 15 7 12 0 0 0 16 0 9i Feb.-Au<r. Oct.-Mch. 4 6 3 4 7 Comrn. of Aust. (pref.) Com. of Sydney 10 9 11 6 9 11 0 9 12 6 9 12 6 4 do. ■1 3 1 12J 17 5 0 17 13 6 17 11 0 16 15 0 5 Jan.-July 3 11 2 F., S., and A. Nat. of Aus'aflift 3 5 0 6 5 1 3 5 1 0 1 19 0 5 Nov.-May 2 39 4 10 — 12 15 0 12 14 0 12 10 0 5 Nov.-May 3 18 8 Not. of Aus'aeia (cont.) 5 0 3 0 G 4 6 6 4 6 6 2 0 5 Nov.-May 4 ,2 0 National of N.Z. 21 3 3 6 3 11 6 3 10 0 3 10 0 •1 Qusirier!" (P., 11. 1 2 17 A., N. 1 ) New South Wales 20 30 12 6 31 0 0 31 0 0 30 10 0 5 lan.-Ju.y . 3 4 New Zealand .. 1 2-10 0 2 10 9 2 10 0 2 8 3 10 Dec-June 4 0 0 6 — — 8 19 0 9 17 0 5 Jan.-July 2 15 10 llcserve 6 6 9 0 6 9 9 0 9 6 — 5 Juno 3 17 2 Insurance— jNatior.al New Zealand .. 1 1 0 0 1 1 0 1 0 I 3 8 0 6 0 19 0 3 0 0 9;.l Hi May-Nov. .■'eb.-Au«. 3 13 i 18 4 south British .. : 1 4 17 0 5 0 0 1 4 18 9 3 19 3 2.'P \ p!. -Oct. 2 1 4 0 Standard 1 — — 3 12 0 3 4 0 12J Mch.-Ser 3 8 51 Loan and Agency— ] Dalgety and Co. 5 4 1 0 8 0 0 8 2 G 9 35 0 5 May Nov. 3 1 G Golctsbrough, M. 1 1 9 6 1 9 10 1 9 6 1 10 9 6 Dec-June 4 3 4 jitarantce Corp. 3n 0 5 7 0 5 10 0 5 9 0 4 4 11 1-9 Mch.-Oct. 5 15 U United Building 1 1 3 1 — 1 3 3 116 d Oet.-Apl. 4 0 0 Frozen Meat— Gear 10a ~ ._ 1 1 0 l 7 o 71, Junc-Oct. 3 11 •> N.Z. Refrig. .. 1 0 18 0 0 19 0 0 19 0 0 19 3 5jj Feb. 5 15 9 C N.Z. Kefrig. (con.) 108 0 8 9 0 9 0 10 0 0 2 5j Feb. G 4 Gas1 6 o 1 6 0 M Jrdy-Feb. 4 3 9 Auckland 1 — — 1 0 0 0 19 3 51 July-Fob 1 2 G Auckland (con.) 15s ~ "** 1 10 G 1 11 (i (i Autf.-i'eb. .', 6 9 Chr.utcuurch Christchurch (con.) 1 3(13 0 17 0 0 17 0 0 17 2 3 9 3 0 15 6 2 0 0 6 8 Aiig.-Fcb. An;;.-Feb. 3 7 3 13 11 Wellington 1 — — ShipP in K— 1 17 9 1 13 0 7 Sco.-Mch. 3 14 2 Huddart-Parker 1 1 17 0 1 18 6 1 1 3 110 — May-Dec. — P. and 0. Del. 1 — "~ 1 7 3 1 5 0 51 May-Dec. ■1 0 8 Union (pref.) .. 1 ' Coal— 0 1(5 9 0 13 0 _ Nov.-May — Tiitipiri '•■! Wesiport 1 10b 1 0 0 1 2 0 1 1 0 0 17 6 10 May-Nov. 1' 15 " I5reweries-r 2 8 0 2 2 C 9 Oct.-Mch. 3 15 0 Carlton 1 — < 7~\ 2 12 4 2 2 li 7 J an.-July 1 13 7 iNow Zealand .. Staples 1 2 12 1 13 1 0 1 13 0 1 13 1 ii 0 1 9 0 6 Aug.-F,b Mcn.-JJep. 3 I) 3 14 .' Tooheys i001 us 16S 1 2 13 4 2 13 9 2 13 9 2 2 0 •Si .uay-.'.ov. 3 JO b iVliaccllaneous— Aust. Glaea 1 3 8 G 3 10 0 3 9 1 9 0 2 10 0 1 12 9 13 8 Dec.-June Mch.-Sep. 3 15 5 10 4 4 Ueath uud Co. 1 1 8 0 1 9 0 0 9 0 8 Mcb.-.^ep. — Bcatii & Co. (con.) jjnt.sh Tobacco la 1 1 1 18 1 1 18 9 1 18 3 4 9 0 1 10 9 2 14 0 G 10 March A ov.-May 3 1 3 2 2 i - w 11 Burna, Philp •• Co.onial Sugar uomiiiioii l'ert. Uuniop Kubber 20 1 1 12 10 1 1 0 16 0 8 3 44 10 0 Ifi 0 4 42 15 1 1 0 10 0 !) 3 G6 0 0 0 18 9 0 17 o 1 4 G 4 4 Nov.-May June Apl.-Ort. Mch.-Sep 3 13 6 3 3 0 G 0 11 Klec. Zinc iord.) 1 1 6 1 1 G 10 1 0 ]\ 1 13 G a Mch.-Sep. 4 10 '.) K.lcc. Zinc iprcf.) 1 1 1-1 11 i ir> 0 1 10 0 1 12 3 Vi June-Dec •! 3 10 Henry Jonej .. Kauri Tmioer .. 1 0 13 8 1 0 0 1 0 4 3 0 G 0 16 9 3 !7 0 8 June-Dec. Sop-April 3 15 1) 1G 0 7 4 n.Z. Unite Co. Mount Lycll •• 1 4 3 0 38 3 4 0 0 38 10 0 18 1 0 9 (1 1 0 9 1 0 3 5 June-Dec. Au;.;uHt 4 17 G Farm. Fertiliser 1 ._ 4 1 o 4 0 0 3 15 0 G Mch.-Oct. 3 II G Whit. <fc Tombs WiLori'a Cement 1(13 1 18 G 2 0 0 1 18 9 1 8 9 133 -Nov.-June

LONDON, Juno 20. .Tune 19. June 20. A ton. A ton. 6. d. J£ 6 d. Copper— Standard, spot no 3 71 29 16 1Q» Forward so 10 73i 30 4 Electrolytic 33 10 0 33 0 0 to :i4 0 0 33 10 0 Wire bars 0 0 33 10 0 American electrolytic 9 cents per lb Lend— Spot 1:1 11 3 13 13 9 Forward 13 11 3 13 13 9 Spelter— Spot 13 3 9 13 0 Forward 13 G 3 13 7 u Spot 229 J 2 6 229 Forward 217 7 6 217 17 <» •Silvei— Fine, per oz. . . 32 3-lCd 3'J : 510*1 Standard, per oz 34Sd 3-Ud