FINANCE AND COMMERCE

Press, Volume LXXII, Issue 21686, 21 January 1936, Page 11

FINANCE AND COMMERCE

TOO MUCH WOOL THIRD CATALOGUE NOW FILLED

GROWERS APPREHENSIVE OVEK EXCHANGE IST OUR COMJIMCIAL BDITO».> Fears that the exchange rate may alter has led a number of owners of

the bigger Canterbury and Marl-1 borough stations to sell their wool in I

New Zealand- this season, instead of shipping it to London, and Christchurch stores are now fuller of'wool i than they have probably ever been before, and harassed brokers are having ' a miserable time trying to pacify

' ' clients who are insisting on the impossible—the inclusion of their clips in ■ the, second sale. "Many will not have their wool sold till the fourth auction, because an advertisement in this morn-

ing's issue shows that the catalogue for the third sale on March 3 is already more than filled. Owners who have decided to sell here are not altogether to blame, because'the shearing season, after a very

. late start, has been almost perfect, and while, on the one hand, some of the earlier places were late, some of the , later clips have been shorn considerably earlier than is usual. '

For the second sale of the Christchurch season, which will be held in the Radiant Hall on Monday next at 9 a.m., the catalogue of 28,000 bales was more than filled about the time of the first sale on December 12. Since then wool has poured into the stores, the

third of 26,000 bales has .been filled, and there is a substantial ouantity of wool already in hand for the unlimited catalogue to be offered en March 31. It is probable that the woolbrokers' Association will try to have toe catalogue for the third sale expanded A limit of 30,000 bales would:relieve toe pressure to some extent, but would not by any means allow the sale ofall the wool that Would *? 0 * A™ nas in store already HMWO bales above its catalogue for the second sale, and in clients' 2500 bales; This has been the general experience. -~>— «*«? general « s*" s3 ""* has had a lot to do some '*\£? amkm ' of Sf be^ gr ° Wets *? ** n herc aDie mat instead of a total offering KS ESS «f£STS T° r £* e sec ' ond *** are •Ss"\. Tb l Lo,,don **"«* has opened «tethopefully, and the AuSS raarpt has remained buoyant ttS wool to be offered is exceS a?£ bSRVf -2? nxture, and this year a favourabli has broughtit°?th* K £ w ° nder *«Hy good order K«^?hiS e ? OWy «**■&* be represented, as usual, and this war ttere w,i be a number of a n ™« om^ ™ «». class in clips that have al «ost since the beginning of tffifs re - ggrfabeen shipped 4 irSfd £

exri!-n!i nearineßs o£ f«mers over *hich they are at present struggling ■\ SECOND AUCKLAND FIXTURE .1 ■ . ■ ■ ■ FULL CATALOGUE FOR

TODAY VALUES EXPECTED TO BE FIRM 'l ~ " .-« ItHi press Spttua Service.l

AUCKLAND, January 20. thP?o£ e^ nd A »ckland wooliale of 'fSLS 8 Season wUI be neld to22£2X' Bu I e ? ' are Present in full «a«ngth, and have been actively enSffJ&J* four days in ** The wool to be offered is reported !n«^L < ? f , very J; ven quality, compris- • 3L wain,3r me^ Iui n to fine crossbreds £2 a r ort «g e «*'' lambs' wool in the absence of any outside uifluences likely to affect price levels adversely, and with the good tornT at the recent London sales, virtues are ex- ' Novmbln ** * e ** of ♦Kp*i ?? of the figures. K" offering will be 28,247 bales! iwo factors have contributed to the unusual supply situation in Auckland i ye ! r,^ A lar 8e proportion of the wool at the first sale represented an/ y i.? Vei l from the Previous season, and late shearing kept many of the typical early season clips off the marJw/*T l ere throvm mto to-mor-f l ?,' the ca * al0 «"e for which closed fully a month ago. As a result, many normal clips of second sale still ., in store in the city, aU a^ ai i labl e "Pace being used *° accommodate not only the 28,000 ffa bales for the present sale, but J iL?^ 7,oo iL¥ es **»* wili form * fiSmMLf eringatthenolililit SYDNEY MARKET FIRM

DEMAND FOR SPINNERS' WOOL IRREGULAR

REACTION PROM EXTREME PRICES ■ i (ttsrriD >«BS amocutiqw—corw««*.)

.. SYDNEY, January 20. ! > - .A* the wool sales, 12,960 bales were f«6red, 11,688 were sold at auction ' t0 4, 1906 Privately. *" i! 1 " was strong general competi--"on, and the market was firm for all - other than good spinners' '*" ' toK T . which the demand wa* somei} lrre Su lar - The extreme prices \ *.* a t the early auctions last week" fe r n °t always forthcoming for -this fe ?^ as y merino made to 26d. I- * t e ** wee k's average prices were £l9 tlv' . a bale » and 15.6 d per lb. fe •• DAIRY PROPUCE ' ' ■fc" &UTTER MARKET SLOW BfefeU* ou * ll lsland Dairy Asaociation, Hilffi*"**received the foUawi&fitnarket .the New ZealandTProdtjce, BBKSgfe' L^dOOi -Uittd : Jan- 1 BBbS§T^ w : £s*,{£, m<' £ j^jjj|s

STRONG DEMAND FOR WOOL LONDON OPENING FULFILS EXPECTATIONS SHARP PALL IN BUTTEB PRICES (o»rrw> p KKB4 amocuwok-comwoht.) LONDON, January 18. ?he strong opening of the London wool sales confirmed expectations. An encouraging feature WJS that there was no limit on the demand and there i was general widespread competition. 2JTt dema "V or crosß breds is significant and indicates that some finer grades are being purchased to provide a certain amount of substitution for merino. Topmakers are finding difficulty in passing on advances to spinners and manufacturers, who are declaring that the consumers will not stand the rise. They point out that last • year's tremendous wool consumption was built up on a considerably lower price level. Butter declined so sharply that it S&SEf* a* l "*"*** Jo panic selling, Tooley Street merchants are unable to account for the rapid fluctuations, S&wftJ'f that values had established a higher level than the market was accustomed to for some years, and consequently buyers had insufficient confidence, fearing a break. Supply and demand, however, seem to be balanced, and if buyers take supplies regularly there is no reason why the present prices should not be fully maintained. The statistical position is excellent, for coldstore stocks were reduced by 43,000 boxes in December. Imports in the next three j months will be light. Larger quantities of South African are arriving and are taking a firm place in the market. Cheese stocks are healthy and are considerably below last year. The demand seems about equal tq the available supplies, but prices are tending lower, 6 FATE OF AUSTRALIAN LOAN INDICATION OF WIDENING MARKET (ÜBT*£D PRESS ASSOCIATION—COPtaiQHT.) (Received January 20, 11.45 p.m.) LONDON, January 20. The city editor of the "Morning Post" says the result of the Australian loan is interpreted in some quarters as marking a decided change in investment conditions. The course of the markets plainly shows that both speculation and investment are less attracted to gilt-edgeds than formerly, and are widening the field in search of better returns. Signs of trade improvement, and rising commodity prices seem to indicate that an upward swing in the trade cycle is definitely under way. CERTIFICATION OF POTATOES VISIT TO WOODEND PLOTS BY FARMERS A visit to the experimental station at Woodend under the direction of the Department of Agriculture was undertaken by many farmers yesterday, and the day was spent in inspecting the plots where! potatoes entered in the department's certification scheme are tried out. Mr R. McGillivray, fields superintendent of the Department of' Agriculture, was in charge of the field day, and he mentioned that the entries this year in the potato certification trials constituted a record. Each year since the potato certification scheme had been inaugurated the entries had increased. Last year 520 entries were received, but this year they had risen to 630. In addition there were 80 entries in the qualification tests arranged to allow farmers to try out their crops to see if they were up to certification standard. Mr McGillivray explained that the question of variety did not enter materially into potato growing, but he advised farmers with a favourite variety to persevere with it, but to make certain that the crop was grown from seed' which was free from virus disease, as this was the disease which caused the running out of potatoes and the low yields often found in crops raised from uncertified seed. Some very careful growers, he said, had found great difficulty in keeping their crops free from the disease. If diseased crops were grown near to healthy ones it was easy for various Insects to transfer the virus disease from the bad to the good. He also dealt with the need of roguing to remove diseased plants and foreign varieties from the crops. Mr C. Morgan Williams, M.P., also addressed the gathering and emphasised the importance of certification. He said that there was little doubt of the value of the work and no doubt about the increased yield of crops raised from certified seed. Several farmers took part in the discussion, and officers'of the Department of Agriculture conducted the visitors round the plots. , - ■ AUCKLAND GAS DIVIDEND (PRBS6 ASSOCIATION TBtE&ftAM.) AUCKLAND, January 20. The directors of the Auckland Gas Company, Ltd., have decided to recommend the payment of a final dividend of 2J per cent, for the half-year ended ■December 31, making S'£ per cent., unchanged, for the year on both fully paid and contributing shares. dividend is payable on Febru- . TRUSTEES EXECUTORS* DIVIDEND (riMSSB ASSOCIATION TfiLBSBAM.) January 20. The Trustees, Executors, and Agency Company,. Ltd., of' Melbourne, has advised the Stodk Exchange Association that the board of directors has declaredan interim dividend for the halfy«r ended Ofecember 3). at the rate of, 6 percehfepjpannitm, payable on Feb-1 *tta% .S,;:'sht "tr«ftß% books of .the iD-'to Vbmoy % / ' ( tDividend. last year was 6 per cent.l

LABOUR AND THE EXCHANGE

English Criticism Withdrawn STRONG POSITION OF N.Z.| GOVERNMENT j (UJUTED PRESS AaSOCHTIOK—COPttIOHT.) (Received January 21, 12.30 a.m.) LONDON, January 20. The "Financial News" withdraws its former criticism of the New Zealand Government's announcement that notwithstanding the inflationary expenditure on which it Intended to embark, it would raise the exchange value of the New Zealand pound to parity with sterling. The paper says that it must confess that it did less than justice to the intelligence and shrewdness of the Government's financial advisers, whoever they might be. It is now evident that the announcement of the contradictory programme was inspired by Machiavellian ingenuity, since it not only saved New Zealand from the consequences of a flight of capital, but actually led to a strengthening of the technical position of the pound. The article alludes to holders hastening to surrender sterlingassets, and says it was an astute move on the part of the Labour * Government It will be more astute if the announcement is hot followed bv action, for the appreciation of the New Zealand pound would inflict hardship on most classes, and will probably never occur. Meanwhile the Government enjoys the benefit of the absence of a flight of capital, a strong technical position, and ample monetary resources. ■■"■': The writer expresses the opinion that the British Labour party would not be able to follow the example of New Zealand in the event of victory at the polls. An ingenious method can only be applied once. The public is not likely a second time to accept an announcement of proposed revaluation at its face value. I FOREIGN EXCHANGES

FOREIGN EXCHANGE RATES The Bank of New South Wales, Christchurch, ouoted the following rates as ruling yesterday for its sales and purchases of foreign exchange. The rates are subject to alteration without notice;— London- . Bu * Bi ' SelUn *-

DOLLAR MARKET RATES » T, L e Abated Batiks (other than tho Bank of New South Wales) quotedthe fitt Zealand currency basis. They are sub. Ject to alteration Without notice!*U.S.A; Canada .(Per £1 N.Z.) B,n, w - ■ ■ "■'• . M - T.T. * ... v 3.96J 3.57 . oj>. .-"..■•• ... ami 3j>n O.D* ... *. .... VOli. 4.015 .A ■ ' Is, ... .

STOCK EXCHANGES

CHRISTCHURCH YESTERDAY'S TRANSACTIONS Markets were quiet on call yester* day, and the recorded dealings were restricted to a few stocks. Transactions (exclusive of vestibule business) were: LISTED STOCKS Sales on 'Change

Banking Commercial Bank of Australia were easier with sellers at 18s sd. Bank of New Zealand had business at 47s Bd, but closed easier with sellers at 47s 6d, buyers at 47s 4d. Dalgety and Company were firm on buyers' offers £8 10s 9d. Goldsbrough, Mtorts appeared easier with 'sellers and dealings at 335, buyers at 32s lid. Mortgage Corporation were weaker with business at 4s Bd, and more were offered at 4s 9d, buyers at 4s 6d, New Zealand Refrigerating (10s paid cum dividend) were fractionally weaker with sellers and business at 10s lid, buyers at 10s 9d. New Zealand Breweries were easier with sellers at 52s lid, buyers at 52s 4d. Miscellaneous , British Tobaccos eased to 40s 6d, buyers staying in at that price, sellers at 40s lid. Claude Neon (Sydney) rose to dealings at 57s 9d, and closed firmer with, buyers at 58s. G. J. Coles had dealings at 735, 73s 6d, and 73s 9d, and more were wanted at 73s 6d, sellers at 74s 6d. New Zealand Drugs moved up to 81s 3d. New Zealand Farmers' Co-op. (10s paid) advanced to 6d, and late offers of 3d failed to attract sellers. Woolworths (New Zealand) preference were steady at 38s 6d. Mount Lyells were fractionally firmer with buyers and business at 20s lid, sellers at 21s .Id. Mount Morgans declined to 18s sd, and more were offered at 18s 4d, buyers at 18s Id. Buyers of Martha Gold Mining raised their bids to 20s, sellers at 20s 6d. Unlisted Stocks Argo Gold were a shade stronger at Is 4d, sellers staying in at that figure, buyers at Is 3£d. Buyers of Associated Motorists Petrol raised their 'bids to 255, sellers at 25s 9d. New River (Is paid) were easier with sellers and business at Bd. LATEST QUOTATIONS N.Z. Govt. Debentures Buyers. Sellers,

(BKITISH OFFICIAL WIRELESS.] 1 RUGBY, January 18. Par. Jan. 17. Jan. 18. Paris, fr. to £1 124.21 ' 75 61-64 74 61-64 New York. dol. to £1 4.866 4.95 9-16 4.95 3-16 Montreal, dol. to £1 Brussels. 4.866 4.99g 4.953 belgas to £1 Geneva. 35 29.31J 29.311 fr. to £1 25.2215 15.19 15.19 Amsterdam, fl. to £1 Milan, lire 12.107 7.27i 7.27J to £1 94.26 61J 61g Berlin, reichmarken to £1 20.43 12.28} 12.281 Oslo, kr. to £1 16.159 Stockholm. kr. to £1 Copenhagen, 18.159 19 9-16 19 9-16 kr. tb £1 Vienna, schgs. 18,159 22.39J 22.391 to £1 34.585 26J 261 Prague, kr. to £1 Helsingfors, 164.25 119| 1192 marks to £1 193.23 227 227 Madrid, pesetas to 1 Lisbon, escu25.2215 36 3-16 36 11-64 dos to £1 Athens, drach 110 1102 110? to £1 Bucharest. 875 520 520 lei to £1 Belgrade— 818.6 665 667 dinars 25.2215 21.7 21.7 Rio de Janeiro. • pence to milreis 5.899 4i 41 Buenos Aires. pence to dol. 47.59 Montevideo. ~" pence to dol. Bombay, pence 51 39£ 391 to rupee Shanghai. 19 18 9-64 18 9-64 pence to dol. • 14J 141 Hong, Kong. pence to dol. Yokohama. • 15 11-16 15 11.16 pence to yen Batavta. • 14 1-32 14 1-32 guilders Warsaw, par 12.107 7.2417.241 zlotys to £1 12.107 9fi 91 •Determined by price of silver*'' 1

£ N.Z. to £100 stg. T.T. 124 124/10 O.D. 123/10 124/10 Australia— £ A. to £100 N.Z. T.T. 101 100/10 O.D. 10,1 100/10 Fiji— £ F. to £100 N.Z . T.T. 90/7/6 89 O.D. 00/7/6 89 New York— DdI. to £1 N.Z. T.T. 4.00? 3.97 Mohtreal— O.D. 4.024 3.07J Dol. to £1 N.Z. T.T. 4.008 3.974 Austria— O.D. 4.01J 3.978 • Schgs. to £1 N.Z. T.T, — 20.63 Belgium— O.D. — 20.65 Belgas to £1 N.Z. T.T. — 23.248 CzechoslovakiaO.D. — 23.263 Crowns to £1 N.Z. T.T. — 95.42 DenmarkO.D. — 95.47 Kroner to £1 N.Z. T.T. 1B.208 17.678 France— O.D. 18.248 17.888 Francs to El N.Z. T.T. 60.91 O.D. 61.21 59.61 59.66 Germany— Relchrnarks to * £1 N.Z. T.T. — 9.666 Holland— O.D. — 9.671 Florine to £1 N.Z. T.T. 5.964 .5.734 ItalyO.D. 6.034 * 5.738 Lire to £1 N.Z. T.T. — Java— O.D. - — Florins to £1 N.Z. T.T. 5.039 5.714 NorwayO.D. 6.989 5.718 Kroner to £1 N.Z. T.T. 16.199 16.868 Sweden— O.D. 16.239 15.679 Kronor to £1 N.Z. T.T. 15.790 15.460 Switzerland— O.D. 15.830 15.470 Franca to £1 N.Z. T.T, 12.419 12 019 NoumeaO.D. 12.494 12.029 Francs to £1 N.Z. T.T. 61.86 58 86 PapeeteFrancs to £1 N.Z. O.D. 62.28 58.91 T.T. 61.86 58 68 Hong Kong— O.D. 62.26 58.91 N.Z; pence to dol. T.T. 19 204 India and Ceylon— O.O. 162 20 16-32 N.Z. pence to rup. Japan— T.T. 23g O.D. 221 22 23-32 22 21*32 N.Z. pence to yen T.T.O.D. - 17 45-64 Shanghai— 17 11*16 N.Z, pence to dol. Singapore— O.D. 17 9-64 Id 9-16 N.Z. pence to dol. T.T. 34| O.D. 34i 35 3-16 351

100 Goldsbrough Mort S, s. 1 13 u. 0 200 Mortgage Corporation 0 4 8 122 N.Z. Refrig. (10s paid cum div) odd lot .. 0 10 11 100 Claude Neon (Sydney) (2) 2 17 9 100 G. J. Coles 3 13 0 200 N.Z. Farmers' Co-op. (10s paid) (2) 0 0 6 100 Mount JL,yell l 0 11 100 Mount Morgan (2s 3d paid) 0 18 5 Sales Reported 150 Woolworths (N.Z.) (pf.) 1 18 6 100 G. J. Coles 3 13 6 3 13 9 75 N.Z. Drug Co. 4 1 3 50 British Tobacco 2 0 6 100 Goldsbrough, Mort 1 13 0 50 Bank of New Zealand 2 7 8 UNLISTED STOOKS > ,„„ . Sales on 'Change 400 Argo Gold 0 1 4 500 New River (Is paid) .. 0 0 8

3J p.c. Ins., 1939-52 .. £ s. 102 10 d. £ s. 0 103 10 d. 0 33 p.c. Ins., 1941 104 0 0 4 p.c. Ins., 1937-40 .. 100 7 6 100 12 6 4 p.c. Ins., 1946-49 .. 104 0 0 4 p.c. Ins., 1952-55 .. 105 2 6 4 p.c. Bonds, 1940 100 10 0" 4 p.c. Bonds, 1955 105 15 0 Other Debentures Waimairi County, 41 p.c, 1/9/47 .. 104 10 0 Ch.Ch. City, 44 p.c, 31/3/37 _^_ 103 0 0 Timaru Fire Board, 41 p.c, 31/3/48 __ 104 0 0 Wanganul City, 44 p.c, 1/11/48 102 f> 0 106 5 0 Bay of Plenty Electric Power Board, 41 p.c, 1/10/03 105 0 0 Waipara County, 41 p.c., 30/9/58 _— 106 0 0 Tolaga Bay, 44 p.c, 10/9/43 __ 103 0 0 Greymouth Boro., 41 p.c, 30/9/40 100 0 0 103 0 0 Kangiora Boro., 4 3-3 p.c, 1/4/58 108 10 0 Oxford County, 44 p.c. 1/4/57 . 107 10 0 Waimak. River Trust, 1/10/42 101 10 0 103 10 0 Booth, Macdonald, 61 p.c, 1937 69 0 0 N.Z. Refrig., 44 p.c, 1940-45 102 0 0 104 0 0 • Banks Com. of Aust. (cum , div., 10s) .. 0 18 4 0 18 5 Com. of Aust. (pref.. cum div., £10) ■ 9 13 0 Com. of Sydney (£12 10s) 18 13 6 18 16 6 E., S., and A. (£3 paid) 5 19 3 6 0 0 Natl, of A/asia. (£10 paid) . 14 3 6 14 6 0 Natl, of A/asia. (£5 paid) 7 3 0 Natl, of N.Z. (£2 10s) — 3 11 6 New South Wales (£2) 33 5 0 New Zealand (£1) 2 7 4 2 7 6 Reserve (£5) 5 15 0 Union (cum div, £5) . . 9 15 0 9 16 0 insurance National (7s paid) .. 0 IB 6 N.Z. (cum div., £1) .. 3 0 6 3 3 6 South British (£1) — 4 11 0 Loan and Agency Dalgety and Co, (£5) 8 10 9 8 11 9 Gotdsbrough, Mort (£1) 1 12 11 1 13 0 Mortgage corpn. (5s paid) — 0 4 9 N.Z. Guarantee Corpn. (3s) 0 5 1 0 5 3 N.Z. Loan and Merc. (ord. stock, £100) .. 30 0 0 — United Build. Society (£1) 1 0 6 1 1 9 Permanent Invest. (£10) — 10 5 0 Shipping New Zealand (£10) .. 11 5 0 _ Union (£1) .. 1 6 3 1 6 7 Frozen Meat Canterbury (£7 10s pd.) 10 5 0 — N.Z. Refrig.. (£1 paid, , cum div.) .. —4. 1 2 0 N.Z. Refrig. (10s paid, cum div,) 0 0 9 0 10 111 North. Cant. Freezing (£3 paid) 1 4 3 1 8 0 Southland (£1) 3 16 0 —. South Otago (£5) 7 .7 0 — Woollens Manawatu (£1) • 1 16 0 Kaiapoi (17s ""paid) .. 0 14 0 0 15 0 Kaiapoi (7s paid) Kaiapoi (prei, 17s) 0 5 3 _ 0 17 0 ■ _~ Mosgiel (£4 paid) 10 2 6 10 10 b Coal Westport-Stockton (10s) 0 1 5 ■-* Westport-Stocktbn (pf„ 10s) ,. .. 0 2 5 — Gas Auckland (£1) .. 1 0 3 . ChriBtchurch (cum div.r £1) -.. 1 17 0 1 18 6 Timaru (£1) .. .. — 1 3 0 Breweries Mohteiths (£1) - 1 1 0 New Zealand (£1) 2 12 4 2 12 111 timaru (7s 6d paid) ,. 0 9 0 0 9 4 Tooths (£1) .. 2 13 6 Tooths (rights, £1) .. _» 1 13 0 White Star (£1) .. ' 0 10 0 Staples (£1) ... ,-,.i. 1 14 6 1 16 0 Miscellaneous Allied Motors (life) .. 0 2 0 0 3 3 Anthony Horderh (£l) 1 1 2 11 .'4 Aust, Glass (£1) .. 4 3 0 4 4 0 Betfth and Co. (£1) .. 1 8 0 19 9 Beath and Co. (1b pd.) 0 7 6 British Tobacco (Aust) (£1) .. '20 6 2 0 *i Broken Hill PrOpty. jm '.. '.• _j. 2 19 3 Broken Hill Prbptjv fit) ,.; \,' 1 9 IB ClaUde Nfedff (N.Z. (£l\ ii 0 Claudfe Neoit(Sydney) (£1) ■■■-.,■ ■ ; '., 2 18 0 '{■■", ':-,.;, Colonial Sugar (£20) . 44 5 0 Dominion Builders* Supl »e*;r(10s)::;'V.^' : *'\:- r\ ■ ■'■vb; ; '!S "8 •'-■■' - Dominion Fert. (£1) .V . 1 3 ,6 (Sl> ., , 0 16 ,c* ,qii;ib/'* EMtro, Zihft cum J ; : .... :^umy<^ f :^^-.. .*a:j$ i;:4 : Mm :;-| ; Eleetm ZWc im cum :'-;diy., : ; £l);:.-'.'', i .:, ;-*''?■•„ WW:>%

Buyers. ;SeUers»Evans Atlas Flour (10s), £ s. d. 1 1 6 ;£' '.s.:d. : ; General Indust, <£i) ■:\4r-.---■■'■I'^-'-o G. J. Cple$ (£1) .. 3 13 6 3 14 6 Gordon ami Cotdl «1) 2 0 0 Greater Crystal Palace • «D .. ,.080 Henry Jones Co-Op. (£1) 1 IT 6 1 18 3 Hays, Ltd. (Ms paid) ,. 0 15 0 —. ■ Howard Smith (El) .. 0 18 9 ."_ Hume pipe (Aust.) («) .'•■..-■ 0 16 0 0 16 6 Masori, Struthers (10s Paid) _ . 0 7 0 Morris, Hedstrom (£1) 13 0 N.Z. Drug (£2) 4 1 0 '■"■' -.— ' N.Z. . Farmers* Co-op. (10s paid) .. 0 0 3 ', N.Z. Farmers' Co-op. (1st pre!, £5) 3 15 0 4 0 0 N.Z. Farmers' Co-op. ("A" pref., £4) ' 2 7 6 L. ■ N.Z. Farmers' Co-op. ("B" pref., £4) -., "l 11 6 _ N.Z. Farmers' Co-op. 44 p.c. stock, 1940 (£100) .. 91 0 0 94' 0 0 N.Z. Farmers' Co-op. 41 ,p.e.'. stock, 1945 (£1*) 90 10 0 94 0 0 N.Z. Newspapers (£1) 2 16 2 4 n N.Z. Paper Mills (£1) 1 9 9 1 14 0 Frocera Bread (10s) .. _ . 118 0 Procera Bread (vendor) flOs) Ill » 2 0 0 Quill, Morris tin liq- • uidation) (£1) 0 4 0 0 5 2 United Provisions (£1) ■■ 0 14 4 Whitcombe and Tombs (£2 10s paid) 3 10 0 3 16 0 Wilcox. Mofflin (£1) .. — 0 12 9 Wilson's Cement (10s) 2 4 3 — Woolworths . (N.Z.) ford., £1) — 5 15 6 Woolworths (N.Z.) (pre!. £1) 1 17 6 — Woolworths (Sydney) (2nd pref., £1) _ 1 5 9 Woolworths (Victoria) (pref., £1) 12 0 1 10 0 -,, Mining Addison's Flat (Is) .. 0 1 11 —_ Alexander (15s paid) Antonio's Hydraulic 0 14 0 (Is paid) _ 0 10 Aotearoa (Is) 0 0 6J Big River (Is) _ 0 2 0 Blackwater (£1) __ 1 12 0 Brian Boru (Is) —. 0 0 3 Broken Hill South (£1) 5 10 0 . Gillespie's Beach (Is) 0 11 Golden Dawn (5s) .. 0 0 4 Golden Point (6d) 0 0 1 Golden Sands (Is) .. 0 2 0 0' 2 6 Goldflelds Dredg. (Is) 0 0 54 0 0 61 Kildare (5s) 0 3 1 King Solomon (is) .. 0 3 5 0 ,3 9 Lawson's Flat (Is) .. 0 0 0J _ Mahakipawa (6d) 0 0 01 0 0 02 Mahakipawa (pref., 1929 issue. Is) 0 0 li Mahakipawa (pref., 1930 issue. Is) .. 0 0 11 0 0 21 Maori Gully (Is) 0 0 11 0 11 Mount Lyell (£1) 1 0 11 111 Moonlight Gold. (Is) 0 0 8 Mt. Morgan (2/6 pd.) Mt. Morgan Develop0 18 1 0 18 4 ments (5s) 0 4 8 Nevis Diesel Elec. (Is) 0 0 01 Okarito (5s) 0 4 10 0 5 6 Skippers (Is) Waihi Gd. June. (2s) 0 0 3 0 0 31 0 4 0 Waimumu Sluic. (Is) 0 0 31 0 0 7 Wetherstones (5s) 0 5 0 Worksop Extended (Is) 0 li 2 0 2 5 Martha (6s) 10 0 10 6 UNLISTED STOCKS All transactions in stocks Quoted in this section are subject to a" different rate o£ brokerage from listed stocks and are not quoted on the official list. Buyers. Sellers. Argo Gold £ s. d. 0 1 31 £ s. d. 0 14 Associated Motors Petrol (pref.) 15 0 15 9 Beh Ledl 0 0 1 0 0 3 Christchurch Press 9 10 0 ' National Tobacco 3 10 0 3 15 0 New River Is paid) 0 0 71 0 0 8 N.Z. Mining Investment 0 0 8 0 0 91 E. Reece, Ltd. (pref.) 0 10 Smith, Wylie . .. 0 11 0 0 18 3 Tlproff Seal 2 10 0 3 0 0 Were's Invest. Trust 0 5 1 Woolworths (Sydney) (ord.) Woolworths (W. Aus5 19 3 6 0 6 tralia) .. 8 17 6 White's Electric 0 0 3 0 0 71 AUCKLAND Sales on 'Change N.Z. Insurance (3) £ s. d. 3 16 Queensland Insurance 2 15 0 Auckland Gas . (2) 1 610 Union Steam (pref.) . 1 6 6 Kauri Timber 13 6 British Tobacco 2 0 9 Consolidated Brick 0 10 6 New Zealand Drug (2) 4 13 Mataki Gold ..- 0 2 0 WELLINGTON Sales on 'Change N.Z. Govt. Stock. 4 p.c. x. s. a. 1943-46 104 6 0 4 p.c, 1952-55 (late Sat.) L05 0 0 _ , (late Sat.) 104 17 6 Bonds, 4 p.c, 1937-40 .. J LOO 10 0 Comrn. Bank of Aust. 0 16 3 g., S., and A. Bank 6 0 0 Bank of N.Z, (late Saturday) 2 7 6 N.Z. Insurance (late Sat.) 2 7 6 3 16 Queensland Insurance (late Sat.) 3 16 2 15 0 Prestige (N.Z,) (pref.) Kt „ » . (late Saturday) N.Z. Breweries .. ' 110 2 13 o Farmers' Fertiliser 1 0 U 1 10 5 N.Z. Paper Mills "■"" ' i DUNEDIN Sales on 'Change Bank of New Zealand £ s. d. 2 7 7 Milburn Lime 2 4 9 New Zealand Drug 4 19 New "Zealand Paper Mills 1 19 3 King Solomon (late Saturday) 0 3 6 SYDNEY On the Sydney Stock Exchange yesterday the tendency generally was weaker. The mining market was listless, although Placer Developments realised an advanced price. ' Meriting Sales £ s. d. Commonwealth Bonds— 4 per cent., 1938 . .. 101 16 3 4 per cent., 1941 . 102 11 3 4 per cent.", 1944 .. .'.' 103 12 6 4 per ceht., 1947 ... 105 7 6 4 per cent., 1850 . .". 103 6 0 Commercial Bank of Australia 0 18 101 Bank of New South Wales .. 33 15 0 Australian Gas A # % 8 0 0 Anthony Hordern t w 1 1 71 Colonial Sugar , , 44 0 0 G. J. Coles .. . . 3 15 0 Goidsbrough, Mort v § 1 13 6 Wilcox, Mofflin 0 11 9 Afternoon. Sales Commonwealth Bonds— 4 per cent., 1938 . 101 15 0 4 per cent., 1941 . 102 8 9 4 per cent., 1944 . ! : 103 10 0 4 per cent., 1947 . 105 2 6 4 per cent., 1950 . 105 5 0 4 per cent., 1983 . 104 0 0, 4 per cent., 1955 . .. 104 0 0 4 per cent., 1959 . 105 8 0 4 per cent., 1961 . 105 7 6 Bank of New South Wales .. 33 15 0 Australian Gas A 7 19 6 British Tobacco , 2 13 Tooth's Brewery % . 2 14 0 Tooths (rights) 1 12 0 Drug Houses of Australia 1 10 3 Australian Iron and Steel (pf.) 1 6 0 Dunlop Perdriau 0 16 6 Wilcox, Mofflin * • 0 1110 Henry Jones 1 18 6 David Jones 2 4 9 Anthony Hordern 1 1 71 Anthony Hordern (pref.) 1 5 0 Standard Cement. ., 1 2 0 General Industries 1 16 General Industries (pref.) 1 4 C , General Industries (new) 1 0 B Mount Morgan 0 18 3 Broken , Hill Proprietary ... 8 19 6 Bulolo Gold .. x 8 2 0 Kuala Kampar 0 15 0 Placer Development . 5 6 0 Mount Kasi 0 14 5 Emperor 0 14 0 MELBOURNE Australian Glass 4 4 0 Broken Hill Proprietary .. 2 19 3 G. J. Coles • 3 14 3 Dunlop Perdriau (pref.) 1 15 6 Mount Lyell .. . . .. 1 10 Emperor .. 0 14 3 Loloma ., . 1 8 41