FINANCE AND COMMERCE

Press, Volume LXXIV, Issue 22308, 24 January 1938, Page 13

FINANCE AND COMMERCE

FIRMER WOOL MARKET FURTHER EASING IN METALS Irregularity continues in the metals market. Copper and cad recorded a further drop at the week-end, but tin mamtamed values. Very little business was transacted bv the Stock Exchanges on Saturday, the local turnover "being one of the smallest for a long time. The situation of the franc is causing colourless conditions to prevail on the London Stock Exchange. The undertone, however, continues satisfactory. The London cables report a general improvement in the wool market of 5 per cent, on opening rates. The second Auckland sale to-morrow will comprise a catalogue of 30,000 bales. The price outlook is uncertain.

MINING NEW RIVER RETURN The return of the New River Cor n.j>any's dredge during the week endc January 20 was 650z from 900 yan treated in 122 hours' dredging time. i | WHITE'S ELECTRIC COMPAN ;• The return from White's Electr i dredge during the week ended Januai 21 was 12oz of gold from 4000 yan [ treated in -95 hours' dredging time. NEMONA RETURN The Nemona return last week w; 52ioz in 125 hours from 15,200 yards. BIG RIVER The report for the period endir anuary 20 states:— No. 5 level. North Stope: The leai ing stope has been carried over length of 30 feet. The stone vari< from Ift to 3ft 6in in width. Soul fStope: Below intermediate level, th lis in the course of being filled; lengl : 20ft; average width 7ft. Centre Stop t Rising through to No. 4 level to facil f tate filling. Stone 4ft wide. Soul i Stope. above intermediate level, is : I the course of being filled; length 28f average width 3ft. Winze: Total depl 27ft, stone 6in. Shaft: Commenced r< pairing shaft below No. 5 level.

The battery has been working two shifts continuously since work commenced in 1938.

ARGO DREDGE The secretary of the Argo Gold Jredging Company, Ltd., reports that the return for the period ending January 22 was 90 ounces, for 240 hours and 22,000 yards. TALISMAN DUBBO Thirty-two tons of ore were treated t the Golderi Dawn Battery for an approximate realisation of £lB7. METALS MARKET COPPER AND LEAD EASIER

PRICE OF GOLD LONDON. January 22. Gold is quoted at £6 19s V 2 d a fine cuncc. ____ SOUTHLAND PRODUCE MARKETS

[THE PRESS Special Service.!

INVERCARGILL, January 22 Oats-The market is very farmers' lines having been sold. Ship_ ping business is quiet, and the> over land business which was available b fore the hoi days has P rac " c Q ,V': ceased Values to farmers, nominally range from 2s to 2s 10d Chaff—lnterest in this market nas ments. as there is no shipping outlet The maximum price for good brignt quality does not exceed .*-*■ ;«. Ryegrass— The crop this season is reponfd to be a.short one because of the drought conditions, during the earl> summer Last seasons crop, when was also lieht has been practicany absorbed 0 thfough the retail and the new season's seed will come °^t to is% C epo a r r ted ar t k ha\ threshing of chewngsTscue has already begun It is expected that production willbe considerably below norma 1. ™e over seas market is quiet awaiting quota lions for the new season s seedAi a consequence it is not PO 8 t°pre diet prices. The brown top market re mains dull. The overseas ,^ which is frequently noticeable uij. month, has not yet appeared. It wm probably be some time before new season's crop is on the maiket.but a considerable quantity of.last season s seed is still held by merchants. Values to growers for dressed seed of expoii quality are at present lOd per Ibloi certified and 3d to 9d for uncertified.

CLEARING SALE

At "Beachcroft," Southbridge, a suc_ •essful clearing sale was held on half of Mr Bernard McEvedy, wn has sold his farm to Mr R. G. Anan of North Otago. There was a u»g. attendance. The principal sales'were -55 two-tooth wethers 265. 194 srn. ewes 17s 4d. 90 two-tooth ewes 25s ia 40 fat ewes 15s 9d. 94 fat lambs 21sJck 34 store lambs 17s. 3d, draught marcs £3B and £36, geldings cows £6 15s and £7 ye*?™*,™ £0 6s sows up to £4, store pigs

N.Z. AND RIVER PLATE COMPANY

REDUCED INCOME LONDON. January 1. The annual report of the New Zealand and River Plate Land Mortgage Company shows interests and rents to October 31, £84,959,( £93,184 last year); interest and expenses, £ 17,503 (£19.343); administrative expenses, £10,153 (£10,443); taxes. £614« (£11,527); cost of exchange, £20,622 (£23,025); cost of foreclosure of properties. £23 (£226); net profit. £30,451 (£28,620). Brought in, £22,800 (£20,179); dividend, 3| per cent. (3 per cent.), less tax. £24,500 (£21,000); to reserve. £SOOO (same); forward. £23.751.

NATIONAL MORTGAGE AND AGENCY CO.

DIVIDEND AND BONIS LONDON, January 21. The National Mortgage and Agency Company of New Zealand has declared a final dividend of 5 per cent., plus a bonus of 2J per cent., on A and B ordinary issues.

SECONDARY INDUSTRIES

GROWTH IN AUSTRALIA

In a summary dealing with the extraordinary development in Australian secondary industries within the last three years, the Minister, Mr White, announced that the additional capital investment involved in some of the projects amounted to £14,610,000. The Broken Hill Proprietary has led the way, its most recent step being the establishment of a blast-furnace at Whyalla (South Australia), .close to the enormous iron deposits there. Imperial Chemical Industries (Australia) is erecting* factories at Deer Park ana Yarraville. The new alkali plant at Port Adelaide, involving a capital of £1.000,000 is also one of its activities. Other new industries established within the last year, not referred to by Mr White, are the Shale Oil Scheme at Newnes (New South Wales), with a capital of more than £600,000, and the ham canning factory at Sydney, which started in May and now cans about 2000 hams a week. In July the Minister stated in Parliament that, as the result of the Government's trade diversion policy, introduced a year ago. new capital of £3.032,000 had been or would be invested in Australian seondary industries. Authority to increase the borrowing powers of the State Electricity Commission up to £10,500,000 for the Kieawa Valley hydro-electric undertaking, and another generating station at Newport will be sought in the State Electricity Commission (Financial) Bill to be introduced in the Legislative Assembly soon. The bill is complementary to the S.E.C. (Extension of Undertaking) Bill, which has already been explained to Parliament, and confers authority on the Commission to proceed with the 14-year task of harnessing the Kieawa river. The borrowing authority sought will be of the dual nature possessed by the Grain Elevators Board, which has power to raise money on its own initiative or through the State Treasury.

Total loss on exchange in respect <sf remittances made during the year £53,667. Of this £20,622 being in respect of revenue was debited to profit and loss account, and £33,045, in respect of capital debited to River Plate exchange provision account, reducing the balance of account to £271,956. The company's assets in Argentina now stand in balance-sheet at 17.56 dollarspaper per £1 (17.38 dollars paper), compared with free market rate at October 31. 1937, of 16.72 dollars paper. The balance of £271.955 of River Plate exchange provision account is appreciably more than was required at the time of closing the accounts to cover loss on exchange on the company's assets in Argentina without recourse to reserve, but in view of the uncertainty as to movement of exchange rates the directors deemed it advisable to leave the whole sum in provision account for the present. The mortgage moratorium law, having been renewed by the Argentine Congress for two years from October 20 1936. is still in force and continues to' affect the company's business. Nc foreclosures were made during the last year, the number of properties held being the same as at October 31, 1936. During the year terminable debentures have been reduced by repayment of £50,730, and the company continues to effect renewals of debentures at lower rates of interest than those previously borne.

WHEAT MARKET

LONDON. January 22. Futures are quoted as follows: — Liverpool (cental) Jan. li. Jan. ZZ s. d. s. d. March •• ? 8 > 7 8 1-16 May-July .. 7 8i 7 < 4

LONDON PRODICE MARKETS

LONDON. January 22. Friday's closing prices were:— Cotton— Spot 4.93 d per lb. February 4 79d ' Rubber—Para 7d per lb; plantation smoked 7^d. j u te— January-February. £l9 a ton. Copra—January-February, South Sea £l2 2s 6d a ton: smoked, £l2; plantation Rabaul £l3. Linseed Oil—£3o 10s a ton. Turpentine—34s per cwt. PRICE OF SILVER (BRITISH OFFICIAL WIRELESS.) RUGBY. January 22. Spot silver is quoted at 20 3-16' d a line ounce, and forward at 19 15-16 d.

STOCK EXCHANGES

CHRIiL, JHURCH SATURDAY'S TRANSACTIONS Markets were dull and inactive on call on Saturday morning. Price levels generally were well maintained. Apart from vestibule business the following transactions were recorded:— LISTED STOCKS Sales on 'Change £ s. d. 100 Taranaki Oilfields .. 0 6 3 100 Broken Hill South (2) 115 6 100 Mount Lycll (2) 112 6 Commercial Bank of Australia appeared easier, with sellers at 17s Id. Buyers of Australian Glass raised their bids to 93s 4d. sellers at 93s 9d. Electrolytic Zinc. preference, claimed buyers at 51s 9d. but sellers wanted 52s 3d. Taranaki Oilfields dropped to 6s 3d, closing quotations Id on either side. , „_ Broken Hill South recovered to 35s (id sellers staying in at that price, buyers at 35s 3d. Mount Lyell were firm at 32s 6d, market closing' Id either way. Mount Morgans were a shade easier with sellers at 10s Id. North Broken Hill were firmer on buyers' offers 555. LATEST QUOTATIONS

Buvers. Sellers £ s. d. £ s. d

UNLISTED STOCKS

All transactions in stocks quoted in this section are subject to a different rate of brokerage from listed stocks and are not quoted on the official list. Buyers. Sellers. £ s. d. £ s. d. Assoc. Motorists Petrol (prcf.) ■• 15 0 A.P.A. .. ..090 Brunner Colliers .. 0 2 0 010 0 Coulls, Somerville .. 014 0 Selfridges (A'asia.) .. Selfridges (N.Z.) Selfridges (W.A.), (10s paid) 0 17 0 Westland Breweries (contrj -. .. 1 0 (r AUCKLAND Sales on 'Change £ s. d. Bank of New South Wales (odd ■ otl 33 2 6 Radio < 19361 •• •• ! £ ° Woolwortlis (Sydney) .. •• i 5 hj Mount Morgan •• UIU "

WOOL MARKET

TO-MORROW'S AUCKLAND SALE UNCERTAIN PRICE OUTLOOK . ITHE PRESS Special Service.] AUCKLAND, January 23. On account of the recent easing in wool prices at this year's Dominion sales the outlook for the second Auckland fixture, to be held to-morrow, is uncertain. Some brokers are doubtful whether the rates for the first sale will be reached, but the wool market is so unstable that any forecast of prices is impossible. Overseas buyers have been busy appraising the clip throughout the week-end. Practically all the stores are well filled, for in addition to the bales already open for the inspection of buyers, there is a quantity estimated at about 17,000 bales, piled high in for the final Auckland sale on March 26. . The catalogue has been limited to 30,000 bales, or about 3000 bales more than was offered at the corresponding sale last year. FIRMER TONE (UNITED I'ItESS ASSOCIATION—COPYRIGHT.) LONDON, January 21. The wool sales closed the week on a firm tone, prices showing a general improvement of 5 per cent, on the opening rates. . New Zealand greasy crossbred. Waihua," sold at Hid per lb average, and 12Jd highest. FOREIGN EXCHANGES

LONDON MARKET LONDON, January 21. Colourless conditions prevailed in the stock markets. Business is subsiding owing to the French situation. The undertone. m however, is satisfactory. Gilt-edgeds" are quietly firm. New Zealand stocks are slightly hetter among Don>rrion issues.

LONDON, January 21. Jan. 20. Jan. 21. Cooper— £ s. d. £ s. d. Standard, spot 41 13 U 41 1 101 ■ Forward 41 16 10A 41 5 7i / Electrolytic .. 45 10 0 44 15 0 to 46 10 0 45 15 0 Wire bars 46 10 0 45 15 0 LeadSpot 15 16 lOi 15 10 0 Forward 15 18 H 15 10 74 SpelterSpot 14 13 9 14 14 4J Forward 14 18 li 14 13 1J TinSpot 182 7 6 182 10 0 Forward 183 7 6 ■ 183 7 6 SilverFine per oz. 20 3-16d 20d Standard, per oz. 21 13-16d 21 9-16d Jan. 14. Jan. 21. Pig iron (ton) 5 9 0 5 9 0 Antimony— British . 81 0 0 81 10 0 Foreign — 61 0 0 (A unit.) Molybdenite 2 5 6 2 5 6 Wolfram 3 17 6 3 12 6

N.Z. Govt. Debentures U p.c. In?.. 15/3/39-43 "and 15/9/39-43 100 15 0 '— 31 P.c. Ins., 15/5/39-52 3i p.c. Ins., 15/9/41-43 101 0 0 — 101 0 0 — 3J p.c. Ins., 1953-57 . . 97 0 0 — 32 p.c. Ins., 1938-41 .. 100 10 0 — 4 p.c. Ins., 19« 103 5 0 — 4 p.c. Ins., 1949 103 5 n — 4 p.c. Bonds, 1946 103 5 0 — 4 p.c. Bonds, 1949 103 5 0 — 4 p.c. Bonds. 1955 103 0 0 Rural Bonds, 5 p.c. 15/9/47 3 p.c. Ins., 1939-41 102 0 97 10 0 0 99 0 0 Banks Adelaide (£5) — 6 0 0 Comm. of Aust. (cum div., 10s) 0 16 11 0 17 1 Comm ot Aust. (pf., cum div., £101 — 9 J(> 0 E.. S., and A. (£3 pd ) — 5 1 o Natl, of A/asia. (£10 paid) 14 0 0 Natl, of A/asia. (£5 paid) Natl, of N.Z. (£1) •• 7 1 2 12 0 6 2 15 0 N.S.W. (£20) 32 17 6 Insurance National (7s paid) 0 16 10 — N.Z. (cum div., £1) 3 2 0 Loan and Agency Goldsbrough. M. (£1) 1 11 4 1 11 10 Mutual Benefit (£10) 13 10 0 — United Building (£1) 1 0 3 1 0 9 Wright, Stephenson (pref.. £1) •■ 1 0 6 ~~ Nevftor. King (pf., 3s) — 0 iu 6 Shippin g Adelaide ( £1) 1 12 0 — Huddart-Parker (pref.. £1) 1 7 0 1 9 1) Frozen Meat N.Z. Refrig. (£1 paid, cum div.) — 1 0 i; N.Z. Re-frig. (10s paid) — 0 9 4 Woollens Felt and Textiles (£1) — 1 18 2 Kaiapoi (17s paid) 0 11 6 0 13 6 Kaiapoi (17s pd. pref.) ._ 0 17 2 Coal Westport-Stockton (10s) 0 2 6 0 3 1 Westport-Stockton (pf., 10s) 0 5 q 0 6 0 Gas Ch.Ch. (cum div., £11 1 7 6 — Ch.Ch. (10s paid, cum div.) 0 13 3 — Breweries Dominion (£ 1) — 1 19 0 New Zealand ( £1) 2 7 0 2 7 4 Tooths (£1) 2 14 9 2 15 !) Miscellaneous Anthonv Hordorn (£1) 0 18 S 0 18 10 Aust. Glass ( £ 1) 4 13 4 4 13 9 Beath and Co. (Is pd.) 0 1 1 0 1 !l British Tobacco (£1) 2 9 3 2 9 « Broken Hill Ply. (£1) 3 2 9 3 3 0 Broken Hill Pty. (con, £1) 1 14 9 1 1,"> 3 Colonial Sugar (£20) 46 0 0 4fi 10 0 Consolid. Brick (£1) .. 0 7 0 0 8 0 €ox Bros. (5s) . 0 J8 0 — Dom Builders ("10s) .. — 0 3 6 D.I.C. (10s) .. 0 14 0 0 14 9 Dunlop Rubber (£1) .. 1 3 8 1 3 11 Electro. Zinc (cum div., £1) 2 8 3 2 9 0 Electro. Zinc (pref. cum div., £1) 2 11 9 2 12 3 Evans At/as Flour (10s) 0 19 0 — G. J. Coles (£1) 4 3 10 4 4 2 Greater Crystal Palace (£1) 0 7 3 — Henry Jones Co-op. (£1) 2 9 0 — Howard Smith (£1) .. 1 1 0 — Hume Pipe (Aust), (£1) 1 0 11 1 l U - Kauri Timber (25s) .. — 1 2 i> Morts Dock (£ 1) 0 11 0 — McKenzie's, Ltd.. (£1) — 3 14 0 N.Z. Farmers' Co-op. (£2 10s paid) — 0 15 0 N.Z. Farmers' Co-op. (10s paid) .. — 0 0 3 N.Z. Farmers' Co-op. (1st pref., £5) — 3 10 0 Buyer s. Seller s. £ s. d. £ s. d. N.Z. Farmers' Co-op. ("A" pref.. £4) 1 10 0 1 19 9 N.Z. Farmers' Co-op. ("B" pref., £4) — 1 19 0 N.Z. Farmers' Co-op. (4| p.c. Stock, 1939 £100) 92 0 0 — N.Z. Farmers' Co-op. (4J p.c. Stock, 1940) 92 10 0 — N Z Farmers' Co-op. (41 p.c .Stock, 1945) 92 15 0 — N.Z. Farm Fert. (£1) — 1 0 0 N Z. Newspapers (16/8) 1 18 6 2 0 0 Quill. Morris (1936), (£1) 0 16 9 — Radio (1936), (10s) .. 1 1 0 1 3 0 Standard Cement (£1) 0 18 0 — Simpson, Williams (£1) 1 7 0 — Taranaki Oil (24/7) .. 0 6 2 0 6 4 United Provisions (£1) 0 6 6 0 7 6 Whitcombe and Tombs (£2 10s) ; 3 2 0 3 6 0 Wilcox, Mofllin (lis) — 0 11 0 Wilson's Cement (10s) 0 17 10 — Woolworths (N.Z.) (£1) 1 0 3 1 0 9 Woolworths (N.Z.) (pref., £D ■• •• 1 17 0 — Woolworths, Ltd. (ord.) (£1) 1 5 7 1 5 8 Oversea Listing Woolworths (S. Afrita) (5s) 0 14 6 0 14 9 Mining Addison's Flat (Is) .. — 0 1 3 Argo (Is) 0 1 7 0 i " Argo (6d paid) 0 1 3 0 1 a Barry town (£1) 1 1 0 — Big River (Is) 0 0 9 0 1 3 Gillespie's Beach (Is) 0 0 6 0 1 3 Golden Sands (Is) .. 0 1 7 — Goldfields Dredg. (Is) 0 0 u — Grey River (8/9 pd.) 0 11 0 0 11 8 Maori Gully (Is) 0 0 41 0 0 6 Moonlight Gold. (Is) 0 0 41 0 0 61 6 Mossy Creek (Is) — 0 1 Nemona (Is) — 0 1 5 Nokomai (5s) 0 1 10 0 0 2 0 5 2i 0 Skippers (Is) — Waihi Invest. (5s) .. — 0 li Waihi Gd. June. (2s) 0 2 111 - — Worksop. Extend. (Is) — 0 1 3 Australian Mining Broken Hill Sth. (5s) 1 15 3 1 5 6 Mount Lyell (£1) 1 12 5 1 2 7 Mount Morgan (2s 6d) 0 10 01 0 10 1 Nth. Broken Hill (5s) 2 15 0 2 16 6

(BRITISH ornciAL WIRELZSS.) RUGBY, Janii iary 21. 1 Par. Jan. 19. Jan. 21. Paris, fr. to £1 124.21 148 13-16 150A New York. dol. to £1 4.866 4.99J 4.992 Montreal, dol. to £1 4.866 4.99^ 4.99 15-16 Brussels. belgas to £1 35 29.544 29.572 Geneva. fr. to £1 25 .2215 21.63J 21.63 Amsterdam, fl. to £1 12.107 9.97i 8.96J Milan, lire to £ 1 92.43 95 95 Berlin, reichmarken to £1 20.43 12.41 12.4M Copenhagen, kr. to £1 18.159 22.40 22.40 Stockholm kr. to £1 18.159 19.40 19.40 Oslo. kr. to £1 18.159 19.90 19.90 Vienna schgs. to £1 34. 585 264 264 Prague, kr. to £1 164.25 142 9-16 142J Helsingfors, marks to £1 193.23 2264 22Si Madrid, pesetas to £1 25 .2215 — — Lisbon, escu- ' dos to £1 110 1103-16 110 3-16 Athens drach to £ I 37! 547J 5474 Bucharest, lei to £1 813.60 6771 6774 Belgrade, dinars 376.3 216 216 Rio de Janeiro, pence to milreis .. 5.90 2 13-16 2 13-16 Buenos Aires. pence to dol. 51 — — Montevideo, pence to peso * 24 J 244 Bombay, pence to rupee 18 18J 18i Shanghai, pence to yen • 14 3-16 14 3-16 Hong Kong, pence to yen • 15 15 Yokohama, pence to yen 24.58 14 14 Batavia, guilders 12. 107 8.95 8.95 Warsaw, par ztotys to £1 43. 36 — 26.37 •Determined by price of silver. BANK OF NEW SOUTH WALES The Bank of Ne\ v South Wale: * quoted the following cxcli ange rates ruling on Saturday :— Buying. Selling. N.Z. on London— £N.Z. to £100 stg. T.T. 124 124/10/O.D. 123/10/124/8/9 Australia— £A to £100 N.Z. T.T. 101 100/10/O.D. 101 100/10/Fiji— £F to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— Dol. to £1 N.Z. T.T. 4.0416 4.0071 O.D. 4.0516 4.0111 Montreal— Dol. to £1 N.Z. T.T. 4.0410 4.0086 O.D. 4.0530 4.0126 Austria— Schgs to £1 N.Z. T.T. — 21.00 O.D. — 21.01 Belgium— Belgas to £1 N.Z. T.T. 2.3.969 23.659 O.D. 24.044 23.670 Czechoslovakia— Cms. to £1 N.Z. T.T. _ 113.51 O.D. — 113.56 Denmark— Kroner to £1 N.Z. T.T. 18.203 17.893 O.D. 18.263 17.899 FranceFrancs to £1 NZ. T.T. 122.92 120.42 O.D. 120.46 Germany— Reichmarks to £1 N.Z. T.T. — 9.899 O.D. — 9.904 HollandFlorins to £1 N.Z. T.T. 7.309 7.159 O.D. 7.349 7.163 ItalyLire to £1 N.Z. T.T. — 76.16 O.D. — 76.21 Java— Florins to £1 N.Z. T.T. 7.283 7.133 O.D. 7.323 7.137 Norway— Kroner to £1 N.Z. T.T. 16.182 15.892 O.D. 16.242 15.898 Sweden — Kronor to £1 N.Z. T.T. 15.788 15.493 O.D. 15.848 15.499 Switzerland— Francs to £1 N.Z. T.T. 17.561 17.291 O.D. 17.666 17.296 Noumea— Francs to £1 N.Z. T.T. 124.17 119.17 O.D. — 119.21 Papeete— Francs to £1 N.Z. T.T. 124.0! V9.« O.D. — 119.26 Hong Kon£— N.Z. pence to dol. T.T. 18 29-64 18 53-<J« O.D. 18 27-64 18 53-84 India and Ceylon— N.Z. pence to rup. T.T. 22g 28 21-32 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to yen T.T. — 174 O.D. — 174 Shanghai— N.Z. pence to dol. T.T. — 18 9-64 O.D. — 18 9-64 Singapore— N.Z. pence to dol. T.T. 34 23-32 35 13-64 O.D. 348 35 13-64 Chefoo— N.Z. pence to dol. T.T. — 18| O.D. — 18 7-64 Manila— N.Z. pence to peso T.T. 29 39-64 30 7-64 O.D. 29 33-64 30 7-64 DUNEDIN Sales Reported £ s. d. Nokomai 0 2 2 Sandhills 0 0 14 SYDNEY Commonwealth Bonds— £ s. d. 32 per cent., due 1951 ..102 10 0 4 per cent., due 1941 ..103 0 0 4 per cent., due 1944 .. 104 10 0 4 per cent., due 1947 . . 105 0 0 ■. 4 per cent., due 1950 ..106 0 0 4 per cent., due 1953 .. 104 17 6 4 per cent., due 1955 ..105 5 0 4 per cent., due 1959 .. 105 10 6 4 per cent., due 1961 ..108 2 6 Commercial Bank of Sydney .. 20 18 0 Bank of New South Wales .. 33 10 0 Associated News (pref.) 14 6 Burns, Philp 2 17 6 Dunlop-Perdriau 14 0 Electrolytic Zinc (pref.,) 2 12 C Farmer and Company 1 13 1J