FINANCE AND COMMERCE

Press, Volume LXXVI, Issue 22920, 17 January 1940, Page 9

FINANCE AND COMMERCE

DOMINION WOOL SEASON

"MANY CRITICAL PERIODS" '''-■' ' _____ DALGETY AND COMPANY'S MEETING

"" (TBOM OTTO OTTO COHRESPOKIJEMT.) LONDON. December 15. A net profit of £121,625 was realised during the last year by Dalgety and Ceropany. At the annual meeting this w eek, a final dividend on ordinary shares of 3s a share, less British incbnje tax, was declared, making 5 per cent for the year. This is a reduction of 1 per cent, on the previous dividend. Commenting upon the season in New Zealand, the chairman, the Hon. E. 'W. Pjurker, said: "I regret to say that it vras adverse throughout the Dominion, while prices for wool and stock were low. Th e disappearance of the Doniinion sterling balances in London catised some anxiety and led to a hurried visit to London of- the Hon. W. Nash, the Minister for Finance. He is to be congratulated on.having been able to arrange for the renewal of the £17,000,000 loan which falls due next month. became necessary for the New Zealand Government to impose stringent restrictions on imports into the Dominion, and this caused a good deal of .dislocation to trade but will eventually assist the position and also en- - courage the secondary industries. The ■war effort -will make it necessary to rai*e further large sums, and this will mean increased taxation, and here again is where our company will have to carry a further burden. The acquisition by the British Government of the Commonwealth and Dominion wool clips at a price about SO'per cent, above that for last seaeon should benefit all growers and your company, too, and with more t&wourable seasonal prospects it may be that better days are in store, but the uncertainties of war conditions make it impossible to forecast -what is likely to.happen to our future .results with any sense of reality." Wool prices in Australia and New Zealand were the lowest for several years, but wool sold freely and ' the jbtevy carry over from the 1837-38 season was liquidated to a large extent. Demand for Wool "From- the political standpoint it was a season of many critical periods, -which one would have thought would almost inevitably have weakened demand, but through it all wool continued to meet a ready sale," said Mr Parker. "Actually, the fears of war helped to increase It* use, as not only was an abnormal demand created for military require;irients, but the improvement in employment due to heavy rearmament programmes gave an added stimulus to /civilian consumption.

was also the attraction, from the buyers' point of view, of cheap wool, which encouraged restocking •from the sub-normal levels of the previous year, and a tendency to buy irii excess of requirements. This 'led to a certain amount of accumulation in consuming centres, particularly of fine wools, which acted as a brake against any material price improvement. While., therefore, it is satisfactory to record such excellent clearances, one can -oiSjy deplore the. low level of values which throughout the season remained considerably below the cost of production. Dominion Production "In New Zealand production was estimated at 921,121 bales, against 855,138 bales in 1937-38, with an average net. weight a bale of 3411b. against 3441b, in the previous season. Sales-in the -Dominion amounted to 720,202 bales, against 629,671 in 193738, with a gross' value respectively of £9,386,375 and £9,027,905, New Zealand currency, an increase of £858,470." Commenting on the sale of butter 83d cheese, Mr Parker said that the dfficit under the New Zealand marktting scheme was understood to be estimated at £1,827,000. PRICES VERY FIRM

LONDON, January 15. Bradford prices are very : firm for all ;qyalities available for civilian consumption. Crossbreds for civilian trade are increasingly difficult to obtain. RELIEVING WOOL SHORTAGE _■." ' IN. CANADA

|]! (Received January, 16, 7.30 p.m.)

r OTTAWA, January 15. It la announced that wool combed but not further processed would be < admitted free of customs duty, including fcpeetal duty, until April 30. This » designed to relieve the wool short-

\ • , MINING J*- , MOUNT ISA PROFITS f _____ Mount Isa Mines, Ltd. (Queensland), rtporte a net profit of £18,798 for the y*«r ended June 30, compared with 4M.742 for 1938 and £70,309. for 1937. Chiefly because pf decreases in average Prices for portion of the output, revenue from sales fell-to £1,158,794, aeainst £1,918,733 in 1937-38. A notable reduction is shown in operating costs, expenditure in minMf, .milling, and smelting being £«B7433»c_pnpared with £ 1,665,024 in •{J* pxtgngus year. The report states that the profit does not include allowance :for depreciation, but provision is iM|de for interest on debentures and loans, overhead expenses, and expenses; amounting to , £20,660 in connexion; w«n the conversion of third mortgage OMsenture stock.

GRAIN AND PRODUCE Oats and ryegrass coming FORWARD

h^lv ?*V. nas °een no notable change £,il£ e * Canterbury grain and produce «rfA?!;fcL. Bince the last report. Samples - 2*£ i* ,an oats continue to come forS2Si* n ° some of them are of poor Ryegrass is also coming in. ffi?«u&h there are few reports of - a £tual business.

,/= ' .i Quotations t* nu f ° llo wing quotations to -farmers - SLiP?** at country sidings, unless • SrS? indicated, are supplied by - tSL# e i ldent ot the North Canterbury Awoclatl d ' and prQduce Merchants' f - ob -. Tuscan 5s 6d, SS&** *■. Bd * Pearl 5s 10d - < Final SPSSP* P f 3d a bushel on all wheat ' taw»A Cartons 3s to 3s 2d, B Gar3s to 3s fld, vjgliowk heavy) 4s to 4e 6d. ~. fcsf ?****—Perennial ss, Italian 4s 6d * * ! SB?i!gft?h ßd to 8d- - ; «S*l» Cl P v er—ls to Is 6d. •£. ""MHWI (hlady stations).

COMPANY NEWS BROKEN HILL PTY.

The fact that the increase in the nominal capital of the Broken Hill Proprietary Company, Ltd., from £15,000,000 to £25,000,000 was not to be taken as an immediate indication of a further issue of shares was mentioned by the chairman, Mr H. Darling, at the extraordinary meeting held in Melbourne recently, when the resolutions modernising the company's articles and increasing the capital were passed. The chairman said that- the bonus shares shortly to be issued will not be subect to Federal income tax or to any State ordinary tax. "Mr Darling added that, for technical reasons, the position under some of the State Acts imposing special taxes appeared to be somewhat obscure. All resolutions were passed unanimously, with the exception of one dealing with provision for support for former employees. Several shareholders questioned the wisdom of this clause, but after a little discussion the motion was carried by a large majority. Asked by a shareholder at the close of the meeting whether the company was interested in plans for car manufacture in Australia, Mr Darling replied smilingly that the meeting was not called, to discuss such business.

LOSS OF £60,000 IN FIRST YEAR

AUSTRALIAN . AND NEW ZEALAND THEATRES

The first accounts of Australian and New Zealand Theatres, Ltd., show a loss of £60,036 for the year ended June 30. 1939. Income for the.period amounted to £289,715, but expenditure absorbed £349,751.

In their report, directors say the loss is serious to the company. During the two months before the outbreak of war an improvement in results set in. but since then business had been affected adversely, and shareholders are advised that because of the existing conditions and the difficulty of obtaining suitable attractions from abroad, future prospects are difficult to forecast. In the meantime, the strictest economy is being observed and every effort being made to overcome numerous difficulties which beset the company. The auditor, Mr G. C. Coburn, in his report states that certificates from the company's bankers in respect to balances at the credit of the company's accounts in London and New York have not been produced to him. Directors of the company are:— Messrs E. J. Tait' (chairman), F. S. Tait, A. W. Allen. K. W. Asprey, K. C. Campbell. R. E. Denison, W. Hi Edwards, and Sir Hugh Denison. The annual meeting of the company was to be held in Sydney yesterday. '. [The company was formed in June, 1938, to take over the theatrical business of J. C. Williamson, Ltd. It was estimated art the time that the new company would show a surplus of ap-> proximately £52,000 a year.]

STOCK SALES

ASHBURTON

A good entry of fat sheep was yarded at the Ashburton stock sale yesterday, the fITSt held there since the holidays. Most pens edmprised .prime quality lines end keen competition brought an increase of 2s a head above those ruling at the Tinwald market last week.

"The market was topped; by H. C. Asehen (Ashburton Forks), who sold four lambs for 27s 4d. Fat ewes brought' up to 23s lOd. this figure being obtained for a pen of three by H. B. Brown (Elgin). G. W. Leadley (Wakanul) received the best price for wethers of 26s Id for a pen of four.

In the small yarding of cattle, forward fat cows made up to £8 2s 6d, and fat heifers up to £lO ss. Fat Ewes—On account of W. r Buchan (Ashton). 8 at 17s Id to ISs lOd; W. Johnston (Tinwald), 10 at 14a Id to 15s 7d; A. E. Gill (Greenstreet), 24 at 16s 4d to 17s lOd; F. P. Cookson (Eiffelton), 32 at 16s lOd to 22a 7d; Mrs E. M. Begg (Wakanui). Bat 17s Id to 20s 4d: M. B. Naismith (Pendarves), 15 at 14s lOd to 17b lOd; Nicoll Brothers (Ashburton), 3 at 20s Id; estate G. W. Leadley (Elgin), 25 at 15? Id to 22s 4d; C. D. Wilson (Wakanui), 4 at 17s lOd; H. B. Brown (Elgin), 3 at 23s lOd; clients, 140 at 10s lOd to 22s 7d.

Fat Wethers—On account of T. J. Lemon (Winchmore), 20 at 22s 4d to 25s 4d; estate G. W. Leadley (Elgin). 8 at 25s lOd to 26s Id; R. Fleming (Winchmore), 16 at 21s 7d to 22s 4d; A. Bennison (Seafleld), 4 at 23s 4d; D. J. Doak (Wakanui), 8 at 22s Id to 25s 4d; clients, 22 at 16s Id to 23s 4d.

Fat Lambs—On account of Q. W. Leadley (Wakanui), 3 at 25s 4d; H. C. Aschen (Ashburton Forks), 8 at 26s to 27s 4d.

Store Sheep-—One hundred and sixtythree mixed-sex English Leicester cross lambs at 18a 3d; 74 four, six, and eighttooth three-quarterbred ewes at 17s.

RANGIORA

Yardings at the RangiOra sale were again small yesterday. Prices were:— Sheep—Rape lambs 17s Bd. Cattle—Springing heifers £7 to £lO, cows in profit £5 to £6 10s, bulls £4 Is. • Pigs—Porkers 50s Bd, stores 28s 6d to 30s, good weaners 22s to 265,

TEMUKA

There was a medium-sized entry of average quality fat cattle at the Temuka i stock sale. The demand was good throughout and prices firmed by about 20s a head on previous sales; Extra prime steers made £l4 to £ls 17s 6d, prime £ll to £l2 17s 6d, medium heifers £7 12s 6d to £9 7s 6d, prime cows £9 12s 6d to £lO 2s 6d, medium £7 to £8 12s 6d. Although the entry of fat sheep was of outstanding quality, prices eased by fully Is a head. Prime wethers made 24s to 2»s lOd, light 18S 4d to 22s Id, extra prime ewes 19s 4d to 21s Id, prime 16s 4d to 18s Id. light 14s lOd to 15s 7d ' The small entry of fat lambs met with very keen competition and prices were at a very satisfactory level. Extra prime lambs made to 27s\ Id, prime 22s lOd to 24s ld.andlight 20s 7d to 21s lOd.

lorneyille

(PBESS ASSOCIATION TUXBOHAM.) INVERCAHGILL, January 16. The fat sheep yarding at Lorneville today was slightly larger than last week, and included several trucks of good' quality wethers and prime ewes. From the start of the sale values showed a sharp drop on last week's good sale, and prices all: round declined about 3s to 4s a head. | Prime heavy wethers -made from 27s 6d to 275, prime wethers 24s to 255, lighter 20s to 225, prime heavy young ewes 22s to 245, prime heavy 20s to 225, medium j 17s to IBs, lighter 12s 6d to 14s. A small yarding of lambs was offered, values being well up to schedule rates. Prime heavy lambs made from 26s to 27s Gd, medium 23s to 245, lighter 21s to 22s 6d. The fat cattle yarding was slightly bigger than last week, the bulk of the yarding being cows and heifers, there being few pens of bullocks. Values were firm at last week's rates'for good quality sorts, but plainer animals showed a slight decrease.' Prime heavy-weight bullocks made from £ll to £lB, lighter sorts £9 to £lO, prime Heavy-weight cows JEIO to £ll 10a. medium £8 10s to £S 10s, lighter £6 10s to £7 10s.

NEW YORK TIN

NEW YORK, January 15. Jin is quoted at 47.25 c&xts per lb.

STOCK EXCHANGE BUSINESS •

WIDER INQUIRY FOR GILT-EDGEDS BUYERS KEEN FOR NEW ZEALAND INSURANCE

Share markets in Christchurch generally were firm, but quieter on call yesterday, and dealings were confined to a few stocks. There was wider inquiry for Government loans at improved prices.

In the Insurance section trie outstanding feature was the sharp advance of buyers' offers for New Zealands to 625. without attracting sellers. Kaiapoi Woollens were fractionally firmer at 13s 2d and buyers of Mosgiel Woollens moved up to £9 15s. but sellers were reticent.

. A late sale of New Zealand Breweries on Monday was reported at 37s 6d, and there were further buyers yesterdav at that orice, sellers at 37s 9d. Broken Hill Proorietary rose sharply to 88s 6d and 90s, and closed with buyers at 90s 3d, sellers at 90s 9d. Buyers* offers for Dominion Fertiliser, Donaghy Rope, Electrolytic Zinc fpref.), G. J. Coles, and New Zealand Paper Mills revealed firmer markets. Woolworths, Ltd., were firm at 25s 4d and 25s sd, buyers staying in at the higher price, sellers at 25s 6d. A late sale of Woolworths (N.Z.V on Monday was reported at 16s 6d. Business yesterday was at 10s sd, market closing id on either side. Mount Lyells advanced to 335, and more were offered at 33s 2d. buyers at 32s 9d. Buyers of. Broken Hill South raised their bids to 34s 3d.

LATEST QUOTATIONS

Buyers. Sellers, £ s. d. £ s. d. Maori Gold (Is) .. 0 0 S 0 011 Martha (ss) ..086 Mining House Concessions -• - 0 0 1 Moonlight Gold. (8d) 0 0 7 Mossy Creek (Is) .. 0 011 New River (Is) .. 0 10 Okarito (ss) .. 0 2 7 Skippers, Ltd. (Is) .. 0 0 05 Waihi Investments (ss) 0 7 6 0 9 0 Ngahere (£1) .. 19 0 110 0 Ngahere {deferred) .. 110 UNLISTED STOCKS All transactions in stocks quoted in this section are subject to special brokerage and are not quoted on the official list:— Buyers. Sellers. £ s. d. £ s. d. Assoc. Gold Dredges

(7s paid) •. 0 10, 0 Assoc. Mot. Pet. (pf.) 1 511 Aust. Mot. Petrol .. 0 12 6 British Develop. .. 2 0 0 215 0 Paparoa Coal .. Riley, Arthur D. (pf.) R.U.R. (N.Z.) ..310

* AUCKLAND

DUNEDIN Bales on 'Change

£ s. d. Milburn Lime .. .. 1 19 6 Woolworths (N.Z.) (ord.) ... 016 6 SYDNEY The tone on the Sydney Stock Exchange yesterday was strong and there was a good turnover. Morning Sales £. s. d. Assoeiated Newspapers (pf.) .. 018 9 Australian Consolid. Industries 118 7J Auat. Consold. Industries (con.) 017 3 British Tobacco .. .. 210 3 Broken Hill Pty. (opening sale) 4 4 6 Broken Hill Pty. (last sale) ... 4 3 9 Broken Hill Pty. (N.Z. delivery) 4 4 3 Dunlop Perdriau .. .. 0 19 9 Afternoon Sales

£ s. d. Broken Hill Fty. (ex bonus),.. 2]« 6 Woolworths .. ~ 12 9 Mount Lyell .. ..* 110 7 W. R. Carpenter . .. .; ' 2 6 0 Carlton'.Brewery .. ..393 William Atkins .. .. 14 0 Kanieri Gold ... .. ni 6 Howard Smith '.. .. 14.0 Auat. Consolidated Industries 118 6 Felt and Textiles .. .. 118 3 Oil Search .. .. 0 5 2 Bank of New South Wales .. 27 3 0

MELBOURNE Sales £ s. d. Loloma .. „ 114 3 Broken Hill South .. ..198 Kauri Timber . .. ..143 Dunlop .. .. 019 7

AUSTRALIAN BANKING FIGURES DEPOSITS RISE TO NEW RECORD

Deposits in the nine trading banks in Australia increased by £5,000,000 to & record total of £320,400,000 in the month of November. This is shown in the Commonwealth Bank's monthly bulletin Issued this month. Current deposits rose to a record of £127,700,000; fixed deposits were £198,700,000. Advances were reduced by £4,300,000 In the month, to £293,000,000. Deposits rose £10,000,000 compared with a year earlier, and advances rose £3,300,000. "Bank clearings Increased more than seasonally in November to a level well above that of last year," says the bank. Previous record figures were; Total deposits, £323,000,000 last April; current deposits, £124,700,000, February, J938.

DUNEDIN RABBITSKIN SALE

KEEN COMPETITION FOR ALL > DESCRIPTIONS [THE PRESS Special Service]

DUNEDIN, January 16,

The first rabbitskin sale of the 1940 season was held before a good attendance of buyers.; The: offering was a small one, and consisted chiefly of spring and summer grades. Keen competition ensued for all descriptions, values being par to slightly firmer oh the rates ruling at the previous sale, held on December 5.

; Following . is.,' the official range of prices per'lb:—Small l2Jd to 16d, ruhr hers 19Jd to 26id, racks 26Jd to 29d, summers 263 to 30jd, summer broken 30id to 32£ d, milkyZ293d to 37d, spring bucks 40Jd to 53d, spring does 33Jd to 36d, winter bucks 71d to 80d, winter does 44d.t0 49d. blacks 18d to 18fd,fawns 20d to 23d, hare Skins' 161 d to i9Jd, horsehair 16d to 25d, outgoing bucks 55d to 59d, outgoing does 383 d to 40d. vThe next sale is scheduled for February 13, and saies will be held monthly during the summer period.

SALE OF STUD SHEEP

EXCELLENT NORTH ISLAND PRICES (78888 4SBOCMTIOM TEt.BOBAM.)

FEILDING, January 16. At the annual sale of WellingtonWest Coast stud sheep nreeders to-day, excellent prices were obtained for higher quality Romneys. The top price of 370 guineas was obtained by J.* A. Mitchell (Longburn) for one ram. A. L. Wheeler (Marton) sold two at 250 guineas; E. E. Short, one .at 250, guineas and one at 175 guineas; Ej D. Warburton (Kiwitea), one at 220 guineas; and H. B. Johnston (Cheltenham), one at 200 guineas.

LISTED STOCKS Sales on 'Change £ 8. 0 13 4 8 4 10 1 5 1 5 0 16 1 13 d 2 6 0 4 5 5 0 100 Kaiapoi Woollens (17a paid) 150 Broken Hill Propty. 200 Wool worths (Syd.), ord. 100 Woolworths (N.Z.) .. 100 Mount Lyell Sales Reported 200 N.Z. Breweries (late Monday) 200 Woolworths (Syd.). ord.' .. 1 17 1 5 1 5 0 18 6 S 100 Woolworths (N.Z.) (late Monday) .4 8

N.Z. Govt. Debentures Buyers. Selle rs. £ s. d. £ s. d. 3 p.c. Ins., 1839-41 99 0 0 4 p.c. Ins., 1946 101 0 0 4 p.c. Ins., 1940-43 .. 100 10 0 _ 4 p.c. Ins., 1949-52 .. 88 10 0. __ 4 p.c. Ins., 1954-58 100 0 0 __ 4 p.c. Ins., 1955 99 10 0 __ 4 p.c. Bonds, 1946 101 5 0 __ Rural Bonds, 5 p.c. 15/9/47 100 0 0 — ' Other Debentures Ch.Ch. County. SJ p.c, 1/12/72 __ 88 0 0 Dom. Fertiliser, 6 p.c. 1/2/41 .. .. 100 10 0 -«*. C.F.C.A., 4j p.c, 21/4/42 85 0 0 N.Z. Refrlg., 41 p.c, 1/8/40-45 100 0 0 — Banks Coram, of Aust. (cum div., 10s) ' » 0 16 3 Comm. of Syd. (cum div., £12 10s paid) .. 20 0 0 21 10 0 E., S., and A. (£3 pd.) 4 14 0 3 0 0 Natl, of N.Z. (£3 10b paid) 2 2 0 2 3 0 N.S.W. (£20) 29 15 0 30 15 0 New Zealand (£1) 2 0 8 2 0 10 Union of Aust. (£5 paid) 8 3 a «— Insurance New Zealand (cum div., £1) 3 2 0 —» South British' (10s) .. 2 lo-: .0 __ Standard (£1 paid) .. 2 18 e — Loan and Agency Dalgety and Co. (£5 paid) — 7 4 0 Goldsbrough, M. (£1) 1 11 0 1 11 6 N.Z. Guarantee orpn. (3s) .. MM 0 3 11 N.Z. Lean and Merc. (ord. stock, £100) 26 10 0 _ United Building (£1) 1 0 5 • — Shipping * P. and O. Def. Stock (£1) 1 5 6 «~ Union (pref., £1) 1 8 e ' — Frozen Meat Cantby. (£7 10s paid) 10 0 0 N.Z. Refrlg. (£1 paid) 0 19 9 1 0 6 N.Z. Refrlg. (10s paid) 0 9 3 — Nth. Cantby. Freez. (pref., £1) .. — 0 17 6 Woollens Felt and Textiles (£1) 2 1 6 _ Bonds Hosiery (£1) L 1 9 —. Bruce (£1) 0 15 0 — Kaiapoi (17s paid) 0 13 1 0 13 6 Kaiapoi (7s' paid) 0 4 10 0 5 6 Kaiapoi (pref., 17s) .. 0 15 9 0 17 q Mosglel (£4 paid) 9 15 0 — Oamaru (£1) ... — 0 17 3 , Coal Grey Valley (£1) — 0 5 0 Westport (10s) — 1 4 0 Westport-Stockton (10s) 0 3 6 0 4 3 Westport-Stockton (pf„ 10S) i. 0 9 3 0 » 6 Oar Christchurch (£1) ., 10 3 —. Breweries Bailing (15s paid) • .. '■ 0 10 8 Oil 0 Dominion (£1) .. New Zealand (£1) "..' 111 0 . _ 1 17 6 1 17 9 Swan (5s) .. ,. 1 12 0 Ward (in liqdn.) — 0 ~1 4 Miscellaneous Alloy Steel (Aust.), (£1) .,; ■ 0 7 0 0 12 6 Aust. Consolld. Indust. (£1) 2 3 0 - M. Aust. Consolld. Indust. (4s paid) .. 0 18 6 1 1 0 Beath and Co. (£1) ■—" 0 16 6 Booth, Macdonald (pf.. £1) ■ i ., .. . _«. 0 '2 4 British Tobacco (£1) 2 13 3 2 15 0 British Tobacco (pf„ £1) 1 10 e —~ Broken Hill Fty. (£1) 440 3 4 10 9 Colonial Sugar (£20) 56 5 0 67 15 0 Consolld. Brick (£1) 0 8 6 ■ — Dom. Fertiliser (£1) 1 6 e ■ — ■ Don agliy Rope (£1) 2 9 0 — Dunlop Rubber (£1) 1 1 7 1 2 0 Electro. Zinc (cum div., £1) 3~ 6 6 3 8 0 Electro. Zinc (pref., i ' cum div., £1) 3 7 9 3 9 0 G. J. Coles (£1) 4 4 0 .— G. J. Coles (los paid)' 3 8 6 3 16 0 Hay's, Ltd. (£1) 1 1 0 — Hay's, Ltd. (cant., 15s paid) .. .. 0 15 0 ~— Gen. Industries (12/6) 0 18 6 — Howard Smith (£1) .. 1 6 8 1 9 0 Ley land O'Brien (£1) Morris Hedsfrom (£1) 0 11 6 •— 1 7 0 — Moturoa Oil < 5s) ». 0 4 3 Macdufts (ord., £ 1) ... 0 4 0 0 4 6 McKenzies, Ltd. ] £ 1) ' 1 19 9 2 1 0 N.Z. Drug Co. (£2) .. 3 16 8 — ■ N.Z, Farmers'. Co-op. (10s j>aid) .. .* N.Z. Farmers* Co-op. —. 0 0 1 (A pref., £4) _... 1 8 8 ■*— N.Z. Farmers* Co-op. (« B.c. Stock, 1990. £100) 88 0 0 _ N.Z. Farmers' Co-op. (41 p.c. Stock, 1955, £100) "■'■.. 89 0 0 , N;Z. Farm Fert. (£1) 0 18 0 0 19 9 N.Z. Newspapers (16/8) 1 7 0 1 8 9 N.Z. Paper Mills, (£1) 1 7 9 1 9 0 Quill, Morris (1936, £1) —- 1 0 0 Standard Cement (£1) — 1 4 0 Taranaki Oil (24/7 pd.) 0 5 0 __. Taranakl Oil Develop. 0 2 0 0 2 4 United Provisions (£1) 0 9 3 0 10 2 Wilcox, Mofflin (lis). 0 7 3 0 7 101 Woolworths . (Sydney) (ord., 5s) 1 5 5 1 5 8 Woolwbrths (N.Z.) (5s) 0 16 4 0 16 0 Woolworths (N.Z.) (pf., £1) .. 1 17 0 «_ W. R.- Carpenter 2 8 0 . — Australian Mining Broken Hill Sth. (5sj 1 14 3 1 15 3 Mount Lyell (£1) .. 1 12 B ' 1 13 2 Mount Morgan (2/6) Mt. Morgan (of.. £1) Nth. Broken Hill (5s) —. 5 10 3 1 1 2-12 D S —• ; Rawang Titi (10*) .. — 0 12 3 N.Z; Mining Addison's Flat (Is) .'. 0 1 D _. Austrai-N.Z. (£1) .* 1 8 6 —- . Barrytown (£1) .. 1 S 0 .—: Big River (Is) 0 0 8 — Clutha River (2s) — 0 2 3 Gillespie's Beach (Is) «M* 0 0 10 | Golden Sands (Is) ' — 0 1 1 Goldfields Dredg. (Is) . 0 0 2 Grey River (10s) «. 0.17 9 0 18 »' Kanieri (*1) >♦ 113 1 . 111 i »

Sales on 'Change £ s. d. Rural Bonds, 15/9/47, 4 p.c. 100 10 0 Ins. Stock, 15/5/49-82. 4 p.c. 100 0 0 National Bank of N.Z. (2) 2 2 3 Bank of N.S.W. 30 10 0 Bank of New Zealand 2 0 9 National Insurance 0 18 6 N.Z. Insurance (2) 3 2 0 South British Insurance 2 10 0 Auckland Gas 0 17 0 Kauri Timber .. 1 2 0 Ley land O'Brien (odd lot) 0 12 0 N.Z. Breweries 1 17 7 1 17 8 Dominion Breweries (new, fully paid) ,. 1 12 6 Consolidated Brick 0 9 0 Electrolytic Zinc (ord.) .. 3 6 6 Farmers' Trading .. •• 0 17 0 17 0 s 1 Mtlburn Lime (odd lot) ,. 1 19 6 1 19 9 Taranakl Oil Development .. 0 2 4 Taranaki Oilfields 0 5 4 Wilson's Cement 0 19 U (2) 0 19 1 Woolworths (N.Z.) 0 16 6 Woolworths (Sydney) .. 15 3 (Late sales) '■ '• 1 5 1 5 4 5 • Broken Hill South • • 1 14 0 1 14 3 Emperor 0 16 6 Mount Morgan (2) 0 9 6 Wellington Alluvials .. 0 4 7 Overseas List Woolworths Holdings (S.A.) .. 0 16 0

WELLINGTON Sales Reported I.. £■ s. d. Gordon and Gotch .. Woolworths Properties (Both late Monday.) ;; 2 13 1 5 0 6 Sale* on 'Change Comm. Bank of Australia 4 P.C. Stock, 1958 N.Z. ;Guar. Corpn. Auckland Gas (ord.) .. Broken Hill Pty. .. 0 16 3 (2) 100 2 8 .. 0 3 10 .. 0 17 0 (6)' 4 8 3 (2) 4 8 4 Consolidated Brick .. " N.Z. Farmers' Fertiliser Wilson's Cement Woolworths Properties Mount Morgan .. N.Z. Breweries .. <2) 4 9 0 9 0 18 0 19 1 5 0 9 1 17 0 0 U 0 6 6 6