FINANCE AND COMMERCE

Press, Volume LXXIII, Issue 22137, 6 July 1937, Page 11

FINANCE AND COMMERCE

ACTIVE STOCK EXCHANGE

N.Z. INSURANCE DIVIDEND

The Christchurch Stock Exchange was more active yesterday than it usually is on a Monday, and trade in a number of sections was brisk. Prices were irregular throughout. There W,was a heavy turnover of G. J. Coles shares, which showed a jH&harp improvement, and some Australian banks advanced. The New Zealand Insurance Company proposes an interim dividend, which will make the rate for the full year 10 per cent., unchanged from last year.

TRADE AND THE SPANISH WAR

LITTLE INCONVENIENCE NOTED BY IMPORTERS

SHARP RISE IN PRICE OF OLIVE OIL

[TBI PBBSS Special Service.]

AUCKLAND. July 5,

Although the importation and marketing of some classes oC goods produced In Spain have drastically been affected by the civil war, which has been in progress for about 12 months, some importers, especially those dealing in wines and cork, sec very little difference, although, as they deal direct with London, it is possible that they are drawing from accumulated stocks. With such classes of goods as olive oil, olives, and almonds, both Governments are exporting to London and there dictating prices. An interesting asnect is that while they are in deadly conflict in Spain, the prices they name are'usually in definite harmony, each being anxious for money. They apparently have no desire for cut-throat competition in trade. New Zealand traders, and, for that matter, the public, are really feeling the pinch of war indirectly, as goods produced in other countries and exDorted here are affected by the Spanish situation. For example, British industry depends a good deal on Spanish iron ore, and the interference with supplies has contributed to the iron and steel shortage in Britain and is being felt in the Dominion in the orices paid for manufactured goods. New Zealand is very directly feeling the effects of the Spanish war in obtaining supplies of olive oil. For some time Spain was exporting this commodity, but very little is now leaving Spain, because the rival administration* are distributing most of their supplies to their own people for food. Italy is now producing barely sufficient for the needs of its own people, and so New Zealand is drawing supplies from France, although it is surmised that France is drawing part of its export requirements from Spain.

First Quality Olives Scarce

ftp Prices for olive oil have naturally jEncreased substantially, and they now i*range about 9s 2d a gallon c.t.f., which is I said to represent a rise of about 75 per cent In a year. By the time extra exchange is added, the New Zealand public is probably paying about 100 per cent more for olive oil than It did a year ago. Accopding to merchants, ■ it is very difflculL'pow.to get first-quality olives. Spain Is still exporting a few, but nearly all New Zealand importations come from France. Some possibly come frcm Spain, but most of these are second grade. Valencia are now almost unprocurable in New Zealand, and so Sicilian almonds have taken their place at substantially increased prices. Several men concerned in the trade in wines say that the price of Spanish wines has not been affected. on the Dominion wholesale market in spite of reports t<> the contrary.. They also say thM cork haa not become dearer. One man said that Spanish wines and cork were drawn from London, where large distributors, who had been interested in the Spanish trade for perhaps several centuries had naturally anticipated events in Spain and accumulated large stocks. "There is definitely a hardening tendency in London," he admitted, "but roy own trade has not yet been affected by it."

WELLINGTON WOOL SALE

WINTER OFFERING TO-DAY

ITHB PRESS Special Service.l WELLINGTON, July 5. The wool market will be tested for "W first time in New Zealand since April, at Wellington to-morrow, when *e Wellington wool brokers will hold JWr winter sale of crutchings, at ?/K* h , a tot «l of 4234 bales will be offered, ft» expected that the market for PUMBgi will be 2d lower than in *«U. The offering is described as W Mgood as that offered 12 months **} The wool is not so well grown ana is not as bright in condition owing Sir w £ ather - AH branches of the "«« will he represented at the sale, Sriii L iß . ex P ecte a that Japanese buyers s«?* "S?" competitors for the bulk hilikT , offw » n g- There is the possifllled 800 d A" 101^311 orders being

COMPANY NEWS

SMITH AND SMITH

MINING

CLL'THA KIVEK

GOLDFIELDS DREDGING

OKARITO

MATARI

AUCKLAND. July 5.

FOREIGN EXCHANGES

(BRITISH OKPICIAL iVIHEL.ESS.I

kr. to £1 13.159 19.39 i 19.391, Oslo. kr. to £1 18.159 19.90 19.90 Vienna, schgs. to £1 34.583 201 2Ci

DOLLAR MARKET KATES

PRICE OF SILVER

w « RUGBY. July 3. ftmS? " lv * r is quoted ot 19gd a fine ""«»», W»d forward at 19 15-16 d.

NEW ZEALAND INSURANCE

IPKSS* 4BBQCUTIU.N TSLEfiRAH.I AUCKLAND. July 5. The directors of the New Zealand Insurance Company, Ltd., will recommend to shareholders at the annual meeting on August 10 the payment of a final dividend of Is a share, making 2s a share, or 10 per cent., for the year ended May 31. The rate is unchanged.

WELLINGTON. Julv 5. Smith and Smith have declared a : dividend on preference shares of 2'. I per cent, for the half-year, pavable : July 31.

The Clutha River return is lOOoz for 143 hours.

The Gold fields Dredging return is 3ioz Bdwt.

The Okarito return is 28oz 15dwt for 104 hours.

The Mataki return for the week ended July 4. was 250z for 130 hours work, 8700 yards. During June a total yardage of 28,410 was treated for a return of 91oz 15dwt sgr.

RUGBY. July 3. Par. July 2. July 3. Paris, lr. to £1 124.21 128J 123 41-84 New York. dol. to £1 4.866 4.94 5-16 4.94 9-16 Montreal, dol. to £1 4.866 4.954 4.98 i Brussels, belgasto£l 35 29.36* 29.37 i Geneva, tr. to £1 23.2215 21.64 21.65 Amsterdam, fl. to £1 12.107 8.991 8.991 Milan, lire to £1 92.45 9131-32 93 31-32 Berlin, reichmarkento£l 20.43 12.C2 12.321 Copenhagen, kr. to £1 18.159 22.40 22.40 Stockholm,

Prague. kr. to £1 161.23 HI J l«i Helslngfors. marks to £1 192.23 226 i 2264 Madrid, peseta| to £1 35.2215 Lisbon, escudos to £1 110 110 3-16 110 3-1G Athens, drach to £1 375 54"i 547 i Bucharest. let to £1 843.5 670 670 Belgrade, dinars 276.3 216 t 216 Rio de Janeiro, pence to mltreis .. 4.899 4.', 4i Buenos Aires. pence to dol. 3.1 Montevideo. pence to dol. * 39J 38] Bombay, pence to rupee 13 IC.I 18! Shanghai. pence to yen * 14j 14 13-32 Hong Kong, pence to yen * Yokohama, pence to yen * 13 31-C2 13 31-32 Batavia, guilders 12.107 Warsaw, par zlotys to £ 1 43.36 •Determined by price of silver.

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday, on a New Zealand currency basi.s. They are subject to alteration without notice: — U.S.A. Canada. (Per £1 N.Z.» Dol. Dol.

Selling— T.T. . . 3.90 7-16 3.97 O.D. .. .. 3.96 13-16 3.972 Buying— T.T. . . 4.00 4.00 7-16 O.D. .. 4.01 4.0111-16

LATEST QUOTATIONS

STOCK EXCHANGES

MARKETS MORE ACTIVE

SHARP ADVANCE IN COLES

Markets were more active on the Christchurch Stock Exchange yesterday and turnover was good. Price movements were irregular. There was an active trade in G. J. Coles, which rose to sales at £5 Bs.

DEALINGS COMPLETED

LISTED STOCKS Sales on 'Change £ s. d.

Banking ( Commercial Bank of Australia were j firm, with dealings at 18s 7d and 18s Bd. and further buyers at the higher price. National Bank of Australasia, £5 paid, were firmer on buyers' offers £7 7s. Bank of New Zealand were weaker, with business at 44s 9d. Bank of New South Wales were firm, with buyers and dealings at £35 ss. Sellers of Union Banks reduced their limits to £lO 15s. Buyers of Wright. Stephenson advanced their offers to 225! 4d. but sellers were reticent. I New Zealand Refrigerating, 10s paid,, were firm, with buvers and business' at 8s lOd. Odd parcels of Southland i Frozen Meat, ordinary and preference, changed hands at 85s. Tooths Brewery shares were fractionally firmer on' buyers' offers 555.

Miscellaneous Broken Hill Proprietary had deal-, ings at 81s and 81s 3d, and these were! buyers' and sellers' closing quotations I respectively. Colonial Sugar werej firmer on bu"ers' offers £47 2s 6d. Dunlop Rubber moved up to 22s 6d. I sellers staying in at that price, buyers' at 22s sd. Electrolytic Zinc, ordinary, were fractionally firmer at 56s 3d —the; preference appeared easier, with deal-; ings at 57s 5d and 57s 6d. G. J. Coles advanced to dealings at prices ranging' frcm £5 5s- 9d to £5 Bs—sellers stay-1 ins in at the highest price, buyers at i £5 7s 9d. Howard Smith were frac-, tionally firmer at 21s lOd. Hume Pipe | • Australia) were firmer, with buyer?; and business at 19a sd. New Zealand' Farmers' Co-operative 4J per cent.; stock, due 1940, remained unaltered at i £9l 10s. Taranaki Oilfields werej stronger at 4s 10d. closing quotations: Id on either side.

Mlnlns Barrytown were dealt in at 265, and, more were wanted at that price. Broken Hill South relapsed to 48s 6d,; buyers staying in at that price, sellers at 495. Mount Lyells showed an easing tendency, with dealings at 42s t 3d and 425. Mount Morgans were firm i at 12s 3d and 12s 4d. North Broken] Hill eased to 735. Rawang Tin were; a shade stronger at 12s 3d and 12s 2d, ; and these were sellers' and buyers' i closing quotations respectively.

Unlisted Stocks Grey River. 5s oaid, were fraction-; ally firmer, with buyers and business at 5s 3d. Wool worths. Ltd., were steadv, with buyers and business at > £6 19s 3d.

Buyers Sellers £ s. d. £ s. d. N.Z. Govt. Debentures

AUCKLAND

DUNEDIN

SYDNEY

Morning Sales

Afternoon Sales

MELBOURNE

Buyers Sellers £ s. d. £ s. d. Miscellaneous

UNLISTED STOCKS ' All transactions in stocks quoted in ! this section are subject to a different rate ' oC brokerage from listed stocks and are I not quoted on the official list:— I Buyers. Sellers, ! £ s. d. £■ s. d.

Sales on 'Ch&nge £ s. d.

WELLINGTON Sales on 'Change £ s. d.

The only feature in a dull market on the Sydney Stock Exchange yesterday was the good inquiry for G. J. Coles shares. The industrial market was mostly steady.

Prices were steady in Melbourne on light trading. Banking stocks were inclined to be firmer. Sales:—

ECONOMIC NATIONALISM

SHIPPING TRADE OF JAPAN

COMPLAINT OF "CYNICAL CRITICISM"

The complaint that "cynical criticism" of Japanese shipping for some reason continues in spite of explanations made on behalf of Japanese owners was made at the half annual meeting of the Nippon Yusen Kaisha Shipping Company by the president I Mr Noburu Ohtani, at the end of May. ' Mr Ohtani. after mentioning the ' prosperous condition of shipping j throughout the world, said that there ! was no indication of how long this I state of affairs would last. While on ; the one hand the snipping trade ap- ! peared to congratulate jtsclf on its ; recovery, he said, tnere existed, and j very persistently, too, on the other, the I determined spirit of economic nationalism in actual practice the world over, 'wnicn might totally upset the present temporary prosperity at any given moment, posaioly throwing out 01 empioymerii tno nuge amount of tonnage at present oeing ouilt everywhere. Although Japanese shipping was now snaring along witn tnat or other countries tne benefits from the amelioration oi tracte, it should not be forgotten that not omy was her export trade being Dlockeu oy almost impassable barriers in the leading markets of the world, but her snipping was uie tai'gci of undue attack, and studied means of its oppression were being planned. It was reporitG that Japan had been asked to withdraw her shipping from trading between the coast ports of mdia and its vicinity, with the threatening alternative oi restrictive legislation. A prominent shipping magnate of Britain even made a public statement that for the benefit of British shipping trading to and from India, she (India) would be made to exploit her own bargaining power in seeking a restrictive shipping agreement with Japan. An amazing argument appeared to be receiving support in British shipping circles of influence that foreign ships receiving subsidy in any form from their respective governments and entering ports in any part of the British Empire should be made to pay special dues. Such notions were doubtless based on erroneous information regarding the intent and purpose of the Japanese subsidy, which, as a matter of fact, was far below the standard as practised in any maritime nation, including Great Britain, and more especially the United States, France, and Italy. The scope of the Japanese shipping expansion through, for instance, the "scrap and build" system which Japan introduced ahead of other countries and also the actual status of Japanese and British shipping in India, seem to be gravely misunderstoc J.

The accounts for the half-year showed a net profit of £N.Z.507,700, after providing £N.Z.380,516 for reserves, depreciation, etc. The capital of the company is £N.Z.4,684,900.

200 Comm. Bank of Aust 0 10 0 18 7 3 10 Bank of N.S.W. (2) 35 5 0 100 N.Z. Rofrig. (10s pd.) 0 8 10 300 Broken Hill Propty. (5) 4 I 0 200 Dunlop Rubber <2) 1 2 « 50 Electro. Zinc 'ord.) 2 16 3 200 Electro. Zinc (pref.) 2 1.7 G 2 17 5 2 17 6 750 G. J. Coles (2) 5 6 0 (2) S 5 9 (2) 5 6 0 5 5 9 <3) 5 8 0 (2) 5 7 9 (4) 5 8 0 (3) 5 7 9 100 Hume Pipe (Aust.) .. 5 o 0 19 0 5 200 Howard Smith 1 1 10 1 £100 N.Z. Farmers' Co-op. <4| p.c. stock, 1940) 91 10 0 200 Barry town <2> 1 ti 0 . 200 Broken Hill South «'2'» 2 a 6 250 Mount Lyell (3) 2 2 3 n 1150 Mount Morgan ictim " " 0 i div.) 0 12 3 < 9» 0 12 4 ' 50 North Broken Hill 3 13 0 3o0 Rau-anj; Tin i2» 0 12 0 12 3 0 12 2Sales Reported 100 Bank of N.Z. 2 4 9 i 55 Southland Frozen Meat lord.} 'odd | parcel) 5 5 0 i 125 Broken Hill Propty. i (2) 4 1 3 i 50 Electro. Zinc, (pref.) 2 17 6 ! 50 G. J. Goles (2) 5 6 0 1 500 Taranaki Oilfields .. 0 4 10 !

100 Kawang Tin UNLISTED STOCKS Sales on 'Change 100 Grey River (5s pd.) 75 Woolworths (Syd.) ford.) (3) 0 12 0 5 6 19 i 3 i ! 3 !

3J p.c. Ins.. 15/3/39-43 and 15/9/39-43 101 10 0 — 3J p.c. Ins., 1938-52 .. 102 5 0 — 3J p.c. Ins., 1939-52 .. 102 7 6 — 34 p.c. Ins., 1953-57 .. 99 12 6 — 4 p.c. Ins., 1943-46 103 17 6 — 4 p.c. Ins.. 1946-49 .. 103 15 0 — 4 p.c. Ins., 1952-55 103 12 6 — 4 p.c. Bonds, 1946 and 1949 104 0 0 — 4 p.c. Bonds. 1955 103 15 0 — Rviral Bonds, 5 p.c. 15/9/47 102 10 0 — 3 p.c. Ins.. 1939-41 07 5 0 — Other Debentures N.Z. Refrig.. 4i p.c, 1940-45 102 5 0 — Banks Coinm. of Au?t. (10s) 0 18 8 0 18 9 Comni. of Aust. ipf.. £10) 9 5 0 9 8 0 Comm. of Sydney (£12 lOst 21 5 0 22 0 0 E., S., and A. (£3 pd.) 6 0 0 6 4 0 Natl, of A/csla. (£5 paid) 7 7 0 7 12 6 N.S.W. (£20) 35 5 0 ■— New Zealand (£1) 2 4 3 2 4 11 N.Z. (mort shares, £1) 1 6 9 — Union (£5) 10 13 0 10 15 0 Insurance National (7s paidi 0 17 10 0 18 6 South British (£1) .. 4 16 0 — Loan and Agency Daleety and Co. (£5) — 11 0 0 Goldsbrough, M. (£1) 1 14 10 1 15 4 Natl. Mort. "A" (£2) — 2 11 0 N.Z. and River Plate (£1) — 1 0 0 N.Z. Guar. Crop. (3s) 0 4 9 0 4 11 N.Z. Loan and Merc. (ord.. £100) — 50 0 0 United Bid. Soc. (CD 1 0 9 1 1 6 Wright, Stephenson i £ 1) 1 2 4 — Shlppin 'S Huddart Parker (£1) 1 13 0 1 19 C P. and O. Deferred Stock ( £ 1) — 2 0 0 Union (prcf., £1) 1 6 0 — Frozen Meat Gear (10s! 0 16 1 0 17 3 N.Z. Refrig. (£1 paid* 0 19 n —. N.Z. Refrig. (10s paid) 0 8 10 0 8 a Nth. Cant. Freez. (£3 paid) 2 3 6 2 7 6 Southland (£1 i 4 3 0 — Southland (pref.. £1) 4 3 0 — Woollens Kaiapol (17s paid) 0 13 9 Kaiapoi (7s paid) 0 4 8 — Kaiapol (pref., 17s) 0 17 6 0 18 6 Mariawatu (£1) — 1 16 0 Oamaru (JE1) — 1 1 0 Gas Ch.Ch. (con., 10s) 0 12 9 — Breweries Dur.edin (£ 1) 1 8 6 New Zealand (£1) .. 2 11 9 2 13 0 New Zealand (con., 10s paid) 1 16 0 1 16 9 Staples (£ 1) 2 10 0 2 12 0 Swan (5s) 1 10 0 Tooths ( £ 1) 2 15 0 15 3 Toohcys (16s> 1 13 6

| Amalg. Wireless (con., i 14s paid) 2 4 0 — Anthony Hordern (£1) 1 Aust. Glass (El) 0 19 1 0 H) 4 4 11 0 4 12 0 ■ Aust. Iron and Steel (pref., El) .. T 6 6 1 7 0 |Beath and Co. (Is pd.) 0 1 3 0 1 9 Berlei (N.Z.) (cum div.. £1) 3 4 0 —- Booth, Macdonald (pf., £1) .— 0 3 0 British Tobacco (£1) .. 2 9 2 2 9 6 Broken Hill Pty. (£1) 4 1 0 4 I 3 Colonial Sugar (£20) .. 47 2 6 47 15 0 Dental and Medical (£1) — 0 13 9 Dunlop Rubber (£1) .. 1 2 5 1 2 6 3 Electro. Zinc (ord., £1) 2 16 2 2 16 Electro. Zinc (pref., £1) 2 17 4 2 17 5 8 6 0 G. J. Coles (£1) 5 7 9 Gen. Industries (12s 6d) 1 0 4 1 0 9 Hay's. Ltd. (con., 15s paid) 0 16 2 ■— Howard Smith (£1) .. 1 1 9 — Hume Pipe (Aust.) (£1) 0 19 5 0 19 8 Kauri Timber (25s) .. ■— 1 3 6 Macdufls (pref., £1) .. 1 5 0 1 6 0 i Morts Dock (£1) 0 13 3 — jN.Z. Drug (£1) — 3 14 6 : N.Z. Farmers' Co-op. i (1st pref.. £5) 3 3 6 — I N.Z. Farmers' Co-op. | (4J p.c. stock, 1939, I £100) 91 0 0 — ! N.Z. Farmers' Co-op. <4J p.c. stock. 1940. ! £100) 90 0 0 — ■ N.Z. Farmers' Co-op. ! <4J p.c. stock, 1945. 1 £100) 90 3 0 91 10 0 N.Z. Farmers' Fert. 1 (cum div.. £1) 1 0 6 ..- (N.Z. Newspapers (18/8) 1 lf> (> 1 17 0 iN.Z. Paper Mills (£1) 1 7 0 — jOtago Dallv Times (£1) 2 5 0 •— .Shillings (El) 0 1R 0 —• Taranaki Oil. (24s 7d> 0 4 9 0 4 11 Victoria Nyanza (£1) .. — 0 19 " (J Wilcox. Mofflln (lis) .. 0 13 6 0 13 8 Wilson's Cement (£1) .. — 1 0 3 Woolworths (N.Z) (cum div., ex rights, £1) S 5 0 5 8 6 Woolworths (Sydney) (2nd pref., £1) 1 8 0 1 10 0 Woolworths (N.Z.) (rights, £l) .. 4 0 0 — _ I Radio (193B) (£1) 1 4 >J 1 10 o! i : Mining ' Alexander (£1) — 0 14 0 1 Argo (ex div.. £1) — 0 2 (1 Barry town (£1) 1 (i 0 1 7 !) |Blg River (Is) 0 1 5J 0 1 ? 4 i Golden Dawn (Is) .. 0 1 7 (I 2 1 ' Golden Sands (Is) 0 1 8 0 2 2 | Maerewhenua (Is) — 0 0 02 ; Maori Gully (lg) .— 0 0 5 : Moonlight Gold (Is) — 0 0 Si 1 Mossy Creek (Is) 0 0 5 0 0 10 i ) Nokomal (5st — 0 2 5 I Skippers (Is) 0 0 2 0 0 2i : Waitahu <5si 0 1 .1 0 2 0 ; Worksop Extend. <lsi 0 1 4 0 1 7 Australian Mining ; Broken Hill South (5s) 2 8 6 2 3 0 ' Mount Lyell (£1) .. 2 1 11 2 2 0 Mount Morgan (2/6) 0 12 3J 0 12 4 : North Broken Hill (5s) 3 12 i S 3 13 2 j Rawang Tin (10s) .. 0 12 : 2 0 12 3 Wellington Alluv. (2s) 1 0 6 0

' Alloy Steel (Aust.) .. — 1 0 0 Assoc. Motorists Pet- ' rol (pref., ex div.» — 1 10 0 , A.P.A. 0 12 0 — Ballin's Breweries (15s paid > 0 13 6 Canty. Roller Flour .. 0 5 0 — Coulls. Somerville, Wilkie — 0 15 0 Grey River 0 5 3 0 5 4 McKenzie's Department Stores 3 19 0 3 19 3 New River 0 0 7 0 0 n Ngahere — 0 6 0 N.Z. Perpct- Forests — 2 5 0 E. Reece. Ltd. (pref., cum dtv.) — 0 4 3 1 Selfridses (A/asia) — 1 9 9 1 Selfridges (N.Z.) (£1 ! paid) — 0 18 0 ' Were's Invest. Trust .. — 0 C 4 I Wool worths (Sydney) 1 ford.) 6 19 3 (1 19 6 1 Woolworths (W.A.) .. — 6 12 0

Ins. Stock, 1943-46, 4 p.c. Bank of N.S.W. (Sydney reg.) Bank of New Zealand United Building (Auckland) .. Auckland Gas Dominion Breweric3 Broken Hill 104 5 0 35 7 6 2 4 8 1 0 6 1 1 7 2 3 3 2 3 6 4 1 4 4 1 3 Farmers' Trading 1 1 2 G. J. Coles Milne and Choyce (deb.) Stanford Taranaki Oil Wilson's Cement Emperor Mount Morgan 5 6 0 17 0 5 0 4 1 0 0 15 0 12 0 12 c" 3 10 8 3 7 6 5 Unofficial List Silknil. Woolwortlis (Sydney) <2> 2 9 6 19 0 6

Ins. Stock. 4 p.c. 1943-46 104 o 0 Comm, Bank of Aust. lord.) 0 18 8 G. J. Coles 5 5 0 Macduff's (pref.> (2) 1 5 6 Wilson's Cement 1 0 3 1 0 4 (All above late Saturday.) National Bank of Aust. (£5 pd.) 7 6 0 Comm. Bank' of Aust. (ord.) 0 18 « Bank of New Zealand (2) 2 4 3 Dominion Breweries 2 3 3 N.Z. Breweries 2 12 6 Colonial Sugar Taranakl Oil 47 2 6 0 4 9 Nestle's Anplo-Swiss Milk <pf.) 1 13 10 Mount Lycll .. <3) 2 2 4 inofficial List McKenzie's Depart. Stores 3 19 3 Woolwoi ths, Ltd. 7 0 0

sales on N.Z. Refrig. (con.) G. J. Coles nawang Tin 'Change (2) (3) £. s>. d. 0 8 10 5 5 0 5 6 6 0 12 0 Wool worths Unlisted (Sydney) Stocks 6 19 6

Bank of New South Wales 35 7 6 Goldsbrough, Mort I 15 71 Associated Newspapers I 2 9 Associated Newspapers (pref.) 1 3 9 Anthony Hordern 0 19 G Broken Hill Prop. 4 1 U Morts Dock 0 13 10 Electrolytic Zinc 2 17 0 Electrolytic Zinc (pref.) 2 18 0 Peters 2 15 0

Bank of New South Wales .. 33 10 0 United Insurance . 10 13 0 Colonial Sugar .28 0 Associated Newspapers .12 9 Howard Smith 12 6 Burns Philp 3 12 6 Australian Gas A 7 10 0 British Tobacco 2 10 0 G. J. Coles . 5 9 0 Australian Glass 4 13 0 Dunlop Perdriau 1 2 101 Morris Hedstrom 1 10 3 Millaquin Sugar 2 3 0 Mauri Bros. 3 11 0 Australian Paper 1 12 0 Wright Heaton . 4 5 0 Meggitfs . 1 13 0 Newbold Brick (con.) 1 10 G Goldsbrough, Moit 1 15 9 Wool worths 7 0 0 Selfridges (buyer) 19 9 Selfridgcs (seller) 1 10 0 Sel/ridges (N.Z.). seller 0 7 0 Anthony Hordern 0 19 6 Mount Morgan 0 12 5 Mount Lyell 2 2 (i Kuala Kainpar Tin 12 0 Rawang Tin (N.Z. delivery; 0 12 5 Larut Tin 0 19 JJ Emperor Gold . . 0 15 2

Comm. Bank of Australia 0 19 u. 1 National Bank (£5 paid) .. 7 11 0 National Bank (£10) .. 15 2 0 Bank of Australasia .. .. 12 5 0 British Tobacco 2 10 3 G. J. Coles 5 9 0 Drug Houses 16 3 Dunlop Perdriau .. 13 0 Dunlop Perdriau (pref.i 1 16 9 Goldsbrough, Mort .. 1 15 9

Hume Pipe A. S. .. 0 19 a. 6 Yarra Falls .. 1 18 9 Electrolytic Zinc .. 2 13 6 Mount Morgan .. 0 12 5 Mount Lyell ..2 2 9 Broken Hill Prop. ..4 2 3 North Broken Htll .. 3 13 3 South Broken Hill ..2 9 6 Emperor Gold .. 0 15 3 Loloma ..10 3 Sulphide Corporation .. .. e is 1