FINANCE AND COMMERCE

Dominion, Volume 1, Issue 307, 21 September 1908, Page 10

FINANCE AND COMMERCE

•THE SHAItEMARKKT. ■■■■' " _At the sitting of the. Wellington- Stock Ex-' . change, on Saturday - sales were reported of : Christchu'rch Gas, at J® 155., and , WestportStockton Coal at 9s. There appeared to be. considerable inquiry for shares/ for there were quite a numoer or buying quotations. Wellington Trust and Loan, sellers £1-75.; Wellington Deposit, sellers 9s. 2d.; National Mortgage,' buyers ..£3, .sellers. Is. 6d.; New Zealand and River Plate,-.buyers £110s; 5d.; National Bank, buyers - <BS, sellers <£5 ls.'Gd.; Christchurch Gas, sellers <£9 165.; l''eilding Gas, buvers 19s. Gd.; Port Chalmers Gas, buyers £1, sellers <C 1 35.; Wellington Gas, sellers £18.175.. Gd. and 'ill, oum rights, ,for. the respective issues. National Insurance, buyers Bs. - ; South British/buyers ■£2,135., sellers, £2 155.; Standard Insurance, buyers iil Is. Gd., sellers £1 2s. 3d.; AVanganui Meat, sellers- Wellington Meat Export, .£5 paid, sellers; ,£6 lis. 6d., M paid, sellers ■ .£5, j£2 12s. Gd. paid, buyers .£3; Manawatu Rails, . ptlyei'S,; £2 lls.dd., sellers ■£& 14s. "Bd.'r Ne\v,Zbaland. Shippiig, buyers £6 7s. 6d., sellers ,£6 103. i Union Stoard, buyers .£1 14s. 6d., sellers £1 155.; Wellington Woollen, sellers .£3 6s. 'Gd. . AVestport-Stoekton, buyers Bs. 9d., sellers 9s. 3d.; Donaghy Rope and Twine, sellers £1 25.; D.I.C. preference, sellers .CI 35.; Kauri Timber, 15s. paid, sellers 14s. 6d,; Leyland-O'Brien Timber, buyers. .£2 55., sellers £2 75.; Mauriceville Lime, sellers .£1; Mountain Rimu Timber, buyers £1 35.; New Zealand Drugs, sellers £2 lis.; New Zealand Paper Mills, sellers ..£l-3s. 3d.; Sharland's ordinary, sellers' 195. ; Gd.; preference, sellers .£1: Taranaki Petroleum, sellers 35.; Ward and Co.; brewery shares, buyers '.£4 155., sellers £0; Whitcombe and' Tombs, buyers .£4 Bs. Gd • THE MINING MARKET. '..-V' Good business in Talismans was'reported'on Saturday. Two sales wore registered at jjl 19s. 9d., two at £2, and one at £2 Os. 3d., thus disclosing a decided upward tendency. Sales were also made-of Waihi Grand Junction at £1 12s. 3d. and 12s. - 6d., and Tairua Conqueror, Gd.' paid, changed hands at-lid. ' The ■'quotations' were as under:— - . Buyers Sellers. Sales. £s.d. £s. d., £ 's. d. Talisman • ... ... 2 0 0 2 0 6 2 0 3 Waihi ... 1 0 0 9 1-6 — . Waihi Grand June- 1 . tion ... ~.. ... 1 12. 6 — 1 12 6 Waiotahi ... ... — 0 3 2 — Tangiaro .— 015 — Tairua Broken Hills 0 2'B 0 2 10 ■ — Tairua Conqueror, . Gd. paid ... : — —'. 0 011 N.Z. Crown ... .-.. — .0 4 3 — Big River 11$ 6 114 0 — Blackwater Mines... .1 3.0 — — , THE WOOL MARKET. Th e' next series of j London wool sales 'will commence on Tuesday,' September 29, and woolmen;,are' not- very,, enthusiastic about, thoi prospects. . The .industrial conditions in Europe and America are far from satisfactory, notwithstanding the reports of a revival. The exports of wool from Austtalasiii from July 1-to' August 31, compared with tho figures for the corresponding period of last year, are as under:— V 1903. 1907. Bales. Bales. . Victoria ■ ... ... 9,055 ' 4,457 New South' Wales... 55,814 33,543 ' Queensland , ... 15,503 12,950 S. Australia ...1,202 285 W. Australia ... . 2,221 2,425 , New Zealand--;.. - . ;27,637'.-,. *■■'. 19,862 . :]7'111,437 73,522 ; • There is a net incrcaso of 3i,915 bales towards which New Zealand, contributed 7775 bales, and this increase 'mainly arises from the export of wools held over, since last season. ■ According to' Messrs. 'Hilmuth Schwartzo and Co.'s circ,ular,|of August 1, the, total deliveries to the trade,! i'adding the transit wools and direct as follows :— ? ';. '.' Total Year '1903: : 1907. 1907. Bis. 1 "Bis. Bis. Home consumption:.'. 704,000 727,000 857,000 Continental consumption ... 1,048,000 '1,167,000 1,372,000 American cons.umpt'n , 70,000 .143,000 149,000

Totals ... 1,822,000 2,037,000 2,378,000 The ■ total deliveries so far show, a decrease of 215,000 bales'. (viz., 23,000 bales for thehome trade, 119,000 bales to'the Continent and 73,000 bales to Apierica). This decrease is only- to a very slight extent due to a falling off in production (the Australasian shipments showing a decrease of-32,000 bales, of which 24,000 bales, were reduced purchases for Japan), but it is partly caused by larger stocks and mainly by the shifting of arrivals—viz., larger supplies for September and November, 1907, and retarded shipments in the present year. Continental advices by the mail on tlio y.'holo are fairly satisfactory. At Berlin tlio market for the domestic clip was quite active, -with'ji"hardening tendency. Confidence in the stability of the industry was increasing. I;i colonial wools likewise a good -business had been done, prices being adjusted to .the London* basis. The yarn market had been quiet, but the tone had much improved and the outlook was brighter. At Havro the market had been very firm in accordance with the rulings in London, but the news of the curtailment of the series had quietened things considerably. At Mazamet there was no change to report. Though the market was firm it was quiet, but stocks had been , considerably reduced. At Roubaix-T'ourroiiig a good week had been experienced, prices- still favouring sellers,, who were in a much more comfortable position'than a few-weeks ago. Futures of tops had been moderately active.and firm, but many pebplo looked upon it as a mistake to boom the market in view of the close approach of the colonial selling season. 1 , ' On the subject of the outlook for the September series of wool, sales, the London house of Dalgety and ; Co., Ltd., write The im-

proveinent' in values so; far does, not seem to have extended - to the manufactured article, and .until this occurs'no permanent rise", in price of tho raw material can be looked for. At the' same time, stocks of the latter , in users' hands appear to be: light, and with a - two months' interval before' September sales the quantity then available may be absorbed without much'change in values, though we cannot tit. present; see any ■ grounds for anticipating improved rates, as the total is likely .to amount to 200,000 bales, or more than double the offerings', submitted in the' corresponding series of last year." . ; One of the most important departments of the American tariff to be dealt with when revision is undertaken is that of the duties on wool' and woollen goods. The .existing duties 011 wool are complicated in form, - but, according to the New York " Journal of Commerce," they were equivalent- to an average of 40.93 E'er cent.,- on - the. importations' of 1907, the ighest average rate-on any class being G1 per cent., collected on "washed wool not on the skin." -The duties collected on woollen goods in 1907 averaged 83 per cent, on blankets, GO per cent; on carpets, 102 per cent, on dress goods, 10G per' cent, on flannels, 83 per cent, on wearing apparel, and so forth, the average rato on all manufactures of wool being about 90 per cent. One/suggestion for reforming the American tariff is.to reduco the duties both on raw wool and on woollen goods, and it is understood that the manufacturers would not bo likely to object if the duties were left in tho sariie relative position ;a's at present. The suggestion' has also, been made that composito. duties should bo .abandoned,, and all the duties reduced to a specific basis. The consumption of wool in America i 3 estimated -at about 500,000,0001b., of which two-fifths wero imported, •the remaining three-fifths being -grown in- tho United States. The domestic production was almost identical'in'lß94 and - 1907."' . NOTES.. Platinum is another metal which has had a heavy fall. " It advanced to ounco' a littlo over a year ago, but has now dropped back to £i.. Even so, tho metal is as valuable as gold. - But since tho financial troubles of last- year, it has been too dear even for the dentists. . - The wills of two millionaires wero proved in England in the week to August 1:—(1) Spencer Compton, Duke-of Devonshire, E.G., of Chatsworth, Derbyshire, personalty JE1,164.960; and (2) Wiliam Todd Lithgow, of. Drums,. Langbank, - Renfrew, personalty .£1,000,237. Tho real estate was not covered by these figures; , The. "Insurance Press" tries to work out tho present value of a man-who earns ~£4OO a year. On .a 4 per cent, interest basis, it places his va'liie at' 25 years at .£7592; at 30 it is ,£73]6; at 35, JE69SO; at 40, X 0576 • at 50, <£5544; at GO, and at 70, But does not that pre-suppose two things—first, that such & riian will ahvajrs earn the same 3 early figure, and that he will continue to earn 'it as long as he lives? Wo are afraid that such a calculation cannot have mucn practical utility.

| The unprofitable results of oversea shipping recently aro illustrated by the report and accounts of thb Eastern and Australian Steamship Company, Limited, for the twelve months ended December-31 last. The profit on voyages completed during the year, after providing for insurance, all steamer charges and interest, amounts to; ,£B3OO. After allowing •■£10,650 for-depreciation-(against .£11,441 a year ago), there, is a debit balance of ,£1350, increasing, the debit:.'balance at profit and loss to .C 9667. The'company's capital remains the same, as a year ago—<£97,B4o; debentures are ,£9OOO against' .£17,000, arid loans and bills payable remain at • The Hobart Savings Bank on August 31 had to the credit of depositors the sum 0f.i£550,7G1, against <£543,551 twelve months previously; the reserve was X'SG,OOO, against .and the balances at the'credit of profit r.nd loss and suspense account y£16,508, against .£15,935; total liabilities -amounting to .£623,268, as compared ■with' ,£014,300 twelve months previously. Assets Comprised moneys lent on mortgage ,£165,107, on Government securities ,£290,000. and on fixed deposit £121,000, cash ,£41,460, and interest accruing ,£4495. The number of accounts between JBIOO and is 2159, between JCSO and ,£IOO 1626, and to ,£SO 13,314. - CUSTOMS REVENUE. Last week th 6 Customs revenue and beer duty collected at Wellington amounted to <£13,200 13s. lid. and .£292 2s. 3d. respectively, while the corresponding period of last vear yielded (revenue) <£23,709 Is. 7d. and (beer duty) -£156 ss. On Saturday the Customs revenue collected amounted to .£1221 Bs. Bd. DREDGING. (bt TiLiaiurn—muss association.) Dunedin, September 20. Dredging returns: Golden Treasure, 3Goz.; Manuherikia, 320z.; Golden Bod, 230z. 14dwts.; Punt, 20oz. lldwts.; Molyncaux Hydraulic, 150z.; Olrig, Goz. ftlwts. - FEILDINGMARKET, REPORT. Mssrs. A. H. Atkinson and Co., Ltd., report:—On Friday at our weekly sale wo had a good attendance. A fair entry of pigs came to hand, but the supply by no-means met the demand. Competition was kcon, and the yarding was cleared at most satisfactory priccs. A nice line of twelvo weaners, just off their mothers, made 155.-9 d. Only 'a ?mall entry of poultry of medium quality arrived, and sold at late rates. An average entry of produce met with fair demand. Quotations: Horses, aged -geldinp, .£1; cows, late calvers, ■£.■) .£5 ; weaners, mixed, 125.; pigs, stickers, -75.; weaners, Bs. 9d., 15s. 9d. ;• slips arid small stores, 235. 6d., 255. Gd.j good stores, 245. 6d. to 3Gs.; porkers,'37s. Gd., 445. 6d.; 60W3, empty, J!1 10s.,

.£1 lGs.; sows ill pig, .£3 7s. Gil.; poultry, liens, Is. 9c1., Is. 10d., 25., 2s. 2(1.; roosters, Is. Tel., Is. 8(1., 25., 2s. 2(1.; ducks, 2s. 5(1., .'ls., all at each. Produce: Potatoes, pigs, 45.; eating, 95.. Ills, lid., lis., 13s. Gd., lis., per sack; seed Eldorado, ss. Gd. suck; horse carrots, ss. !)d. a sack; oats, feed, lis. Gd. a sack; wheat, 10s., 225: a sack. HIDE AND SKIN SALE. Messrs. Dalgety and Company, Limited, Palmerston North, held their usual monthly sale of wool, skins, hides, tallow, etc., on Friday last, when they offered a large catalogue of all descriptions, ' comprising 1851) sheepskins, 405 largo hides, COO calfskins, 11 bales and 50 sacks of wool, and a quantity of tallow, horsehair, and other sundries. Wool.—Competition was keen for all lots offered, and prices were firmer than last sale. Crutchings, 3Jd. to 3'd.; lambs', 41(1. to 5Jd.; crossbred, 4Jd. to 5(1.; dead, 45d. to 43d. Sheepskins.—There was exceptionally keen and spirited competition and priccs were higher than last sale. Crossbred, medium, 4!d. to 5(1.; crossbred, fine, 4-id. to 5i- to 53d.; crossbred, full wool, sd. to SJJ.; lambs', 4d. to 5d.; quarter wool, 31(1. to 33d.; second dead, 3!d. to 3Jd.; dead hoggets, 3Jd. to 3Jd.; eulls, 3|(1.; pelts, 2Jd. to S.Jd.; crossbred, damaged and seedy, 3Jd. to 3Jd.; rams, 31d.; crossbred, part dry and green, 4s. 2d. to 4s. Bd., and 4s. lOd. to 55.; salted lambs, 3s. Id.; salted, damaged and seedy, 2s. Id. to 2s. 7d.;.crossbred. salted, 3s. 3d., 4s. Id., to 4s. lid. Hides.—A keen demand, especially for calfskins, which showed considerable improvement. Ox, heavy, sjd.; medium, sd. to 5Jd.; light, 4}d.; cut, 43d7; cows, 4Jd. to 4|(1.; cows, light, '4d. to 4Jd.; cows, rough and cut 3jd. to 3Jd.; cows, slippy, 2k1.; heifers and steers, ijd. to 4Jd.; horse, 7s. 3d.; cut, 35.; yearlings, 4Jd.; calfskins, Gid. to GJd.; cut and meaty, 4d. to 53d.; slippy and drv, 2d. to 4d. Our next sale takes place on Friday, October IG. STOCK SALES. (bt tei.egpafh.—spsc:ai. cdnnnspoKDENT.j Pahiatua, September 19. The opening sale of pigs for tho season was held to-day at tho mart. There was a good yarding. The attendance was good, and competition keen, consequently good prices ruled. Weaners, 14s. to lCs.; slips. 18s.; stores, according to size and condition, 21s. to 265. FARMERS' CO-OPERATIVE ASSOCIATIONS. .(nv TELEGIJA ASSOCIATION.) Christchurch, September 19. The annual meeting of the New Zealand Farmers' Co-operative Association of Canterbury was held this afternoon, Mr. J. A. Pannett (chairman of directors) presiding. In moving- the adoption of the report and balanccsheeti which were adopted, the chairman said that lie felt that, all things considered, • tho shareholders wore to be congratulated upon a successful year's operations. The profits for the twelve months amoiLited to J 26,759, which, with .£5336 carried over from last year, gavo_ a total of .£32,145. 1 Tho earnings for the period as compared with those of the previous year showed a diminution consequent upon the disastrous collapEe of the wool , market, tho exceedingly dry weather -during the greater part of the summer, which naturally, affected tho auction and stock commissions, and, lastly, the money stringency which made its effects felt moro or less in every department of the business.

Oatnaru, September 19. The animal meeting of the North Otngo Farmers' Co-operative Association was held today. The balance-sheet showed .£2194 profit available. The report rccorr.mendcd a dividend of 7 per cent, to shareholders. An "amendment was moved to make the dividend to shareholders 5 per cent., with 10- per cent, bonus for commissions, and 2} poi cent, on purchases, but this was rejected, and the report and balance-sheet adopted. The retiring directors were re-elected. LONDON MARKETS. Messrs.- Dalgety and Company, Limited, Wellington, have received the. following cable messages from their London, house, under date of September 17:— Frozen Meat—There is a poor demand for New Zealand lamb. Moderate demand for New Zealand mutton, and the market is firm.. Fair domand for. New Zealand beef, and finest qualities aro very firm. Meat, other than Australasian, of good quality, is offering at low prices. Our quotations for New Zealand descriptions arc:—Primo crossbred lamb, Canterbury, heavy, 4Jd.; light, 5M.; primo crossbred lamb, North Island, -heavy, -lid.; light, 5Jd."; prime orossbrcd mutton, Canterbury, 5Jd.; prime crossbred mutton, Canterbury, heavy, -3fd. j light, 4Jd.; prime crossbred mutton. North Island, heavy, 33d.; light, 3Jd.; primo ox beef, fores, 3}d.; hinds, 'did. to 4i!d. Tallow.—Since our last advices prices for low and inferior descriptions are 3d. per cwt. higher. Other descriptions are unchanged. BANK OF ENGLAND RETURN, ar tet.kckapii—muss A<snciATin.v- -corTiuam London, September 18. The Bank of England return issued for the week ending Wednesday, September IG, is as under :— lESDE DErAnTOr.Ni Kotolsiras ... £55,233,CC0 Gov. seenrilfCßJ3l,ols.o(X) Other securities ... 7.43-1,009 Gold ... 3ii.73-1.000 £55,223,020 £55.253.000 ' Banking Department, Proprietors' . Govt, secuvicapital £14,553,000 ties • ... £15,532,000 Fublic do- - Other securi- . -posits ... .0,532,000 tics ... 26,359,000 . Other de- - posits ... 45,247,C00 Notes ... 26,1C5,000 Eest, 7-day ami other in ... 3,601,C00 tills ... ,'.£62,00 £69,894,000 £39,894,000 1 The leading items of tho Bank of England return afford the following comparison:— - This week. Last week. Last year. Bullion ...' 3G.784.C00 36,e85,C00 37,773,000 Deserve... ... 28,010,000 , 27,5(8,000 28,757,010 Note circulation 28,8-24,C0J 29,09 ,010 28,8-??,000 Public' Deposits 6,53-2,000 5,700,1,0.1 5,U58,0J0 Other Deposits' 45,'247,000 45,514,030 46,92-1,000 Proportion oi loserve to liabilities 54.33 , 53.60 51.67 GOVERNMENT SECURITIES. i The following aro tho latest quotations for Government securities, with a comparison ot those ruling.last week:—

THE MONEY MARKET. Tho Bank of England discount rate is 2J per cent., to which it was reduced on May 29. Short loans in London aro i lower at f of 1 per cent. ( Three months' bills in London .5-16 higher at 1J per cent. | COLONIAL AND OTHER PRODUCE. Wheat.—The markets are firm, and buyers are more disposed to operate. Thirty , thousand bushels ,of South Australian wheat per steamer to sail January sold at 375. 3d. per - quarter. Wheat, on spot, is steady at from 40s. Gd. to 41s. per quarter. The' flour market is firm. Australian is quoted at 255. to 255. 6d. in London, and 28s. in Glasgow. Sugar.—German beet,' 88deg., 2d. higher at 9s. Bu.;' first mark granulated, f.o.b. Hamburg, lid. lower at Us. per cwt. , Butter.—The market is firm. Danish, 1225. to 1245., as against 118s. to 120s. last week. Colonial, nominally unchanged. It. is reported that some contracts havo been made for new season's Now Zealand.at from 112s. to 113s. c.i.f. Bradford Tops.—Tlic market is quiet, but prices aro firm and unchanged. THE METAL MARKETS. Copper.—Spot, Us. 3d. lower at ,£GO 7s. Gd. i three months, lis. 9d. lower at «£GI 2s. Gd.. per ton. Tin.—Spot, ss. higher at ,£l3O 10s.; three months, 7s. (id. higher at .£l3l 15s. per ton. ' Silver.—Bar silver is quoted at 24d. per ounce, standard. ■

, WELLINGTON SHASE LIST. ' ■ COMITY Capital J __™ICES___ YioM COMPANY. Faid Up. Balance - ~ E^Tinvistor Forward. BDar0, H g Euycr. Seller. g a i 0i • BANKS. S 1 - i ' £ £ £' £ £ b. d. £ 6. d. £ B. d. £ i. fl. \ Pew Zealand ' ... ■... „ nmroi £01,097 -,1 1n S18 0 1 - National ... ... b75.llU0 btii,3o3 JJ ! • 12 5 0 0 5, 1 6 5 1 0 518 9 . INSURANCE. ■ Rational .... ... ... JOO.COO C49.330 , vn ltd 15 180 1 8 6 1 7 0 5 91 - IC0.UU t'Jb.bVJ 8 jo 313 0 »U 3 8.14 0 5 8 1 bouth British ... r C0 ,iU) ? ?»• in 2 13 0 £15 0 2 15 0 5 9 1 (standard ... ... ... ... ... | ' g -io 1 1 6 ' 1 2 3 • FINANCIAL. V ' 10 2 6 Equitable' Building ... • £0CC0 js,242 r • « Metropolitan Builuing l2tl0 .6,tw » ... 7 \Ycll111gton Invest. ... ... ... £0U(JU .UW 10 , * i OUt ,011 8 5 4 4 Wellington'Trust and Loan. .... ica-ioo 44,aw r s 5.. o 1 '• 0 7 7 0 5 8 6 iiauouai Mortgage ... • ... ... «uCot» fci.Hd • J s in 3 0 0 3 3 6 U.&. and liiver i'lato ... ... ; IUWU) ■ ioo,siil . .-'nil. ?« H0 6. .1 10 9 1 10 6 5 5 0 ■ ■: ./Una 'ana oleix-antim -UiMi J t.5 5 II) 0 4 3 1115 4 CAS. ... •. . .Auckland ... ... ... ... ... JE0.370 fS.4G3 . • -n 17 15 10 0 15 9 0 5 10 0 , ■ Cuiiatcnurch ... ... ... ... leo.OOO tt*il • 2 nil 10 9 16 0 «15 O 5 2 7 ...lending ... .;. ' ... b.omj; mj ? nil 0 10 6 0 10.6 fauoorue ... •... jv.vu) lC.£b5 ■ J n ;i S 12 6 A10 0 510 0 luwera ... titi u •..«,! V iio NaoieV ym •«*« 5 nil 10 V . ""I"" —: - 10 111 15 • « ; V;;- ••• ;;; ;;; j <«®t 5 f 15 ' , " 27.000 11.092 4 ®| {jj 7 6 C ' ,7 6 0 6 3 3 .Wellington • ■ itotwi- ; vitvw 10 nil So » 7 6 - . , . " ••• . i . -5 u JO 11 0 0 ll'vl. 3. ,410-5 ' ' MEAT. tMilTcnuRii ::: ::: ::: :»«' 'n ■ '•«' 6 •»«« Uear i ' , i<,WJ jg m j g ; • 10 0 0 .; . . [ ili.COO lo.ioi 1 nil* 12$ 2 0 0 l l 10 0 2.9.0 5 2 0 Weilin'L'ton Meat Export % 4 b 1-2J . . J1J J . - . ;; - } 105.766 47.950 :.f . f. « 5 61 J « ■ , ft anganui'I':- ~ ~ 1 M46; | -| 3 0 0 500 3 °'-'° ' ° ° TRANSPORT. ' . W. and II.. Railway , IT0 ,CC0 121,45-2- ' , ' - »u e ' ®14 6 000 tmoiTS •": ••• •••■ - W.-i.'nll 5 e" 6 tlO.O III 660 y::: ::: ::: "Td i ' Sil f 1116 Slf ° 115 ? 6 8 0 ■ COAL. . •••■ :f.0,000 . 1-7,431 ,3j ■ Ij 12J 6 3 ( G 6 0 "P.- • ■" //-.'V*? ' L,1WJ 1 nil 7S , HO 6 018 J 8 4 5 WOOLLEN. Eaiapo' ... ... 127.763 - 32£5i '5 B ii 7 : .. hotgMT'. .. „. ... ... Mais. : S4 "« i wemngton . ,, 4 , t)25 -. .. « I 3 5 0 3 6 6 3 6 9 7 4 0 , MISCELLANEOUS.' * Donaghy Hope ... ... ■ c*r m . • JE1 1 cil c 12 0 • Ldytana ana OBrien. ... . ... , ;6,tu) 57,-.u- 1 „ji 15 3 5 0 2 7 0 Um ° '-" ••• - : • iw . iii5 1 .nil 0 10 0 • ' W ,}j u,<u ® ... . . ... ...: ... . 10.UJU -t7<S. 10 nu t k/' Mjiv;.- 1 •••. ' fw,uw -st.'.to; mi . r i 210 6 211 c m c 6 3 0 £•'/ 'r ■ ' ■" ; - • 04,775. lrfM' . 1. nil 7 12 9 13 3 ' ' : Ii.i. Cement ... ... ... ... ;.CX0J i,ua l' nil ... 1861 8 6186 ••• ••• 1 ' 1 10 •' '317-6 316 6 10 9" 2 ' •'- to'KS- iWr^iiAV.;.•" ' t0,a0 * 1 . 10 i 415 0 5 0.0 415 0 8 8 5 . wgS: S 1,,fa J ; »j} .. ' •'SiSd to Lw ?^."'--''': ~ -- • a* ISl'-io, 4 8 6 4 10 0 . bliarlaud, Ltd. ... ... . ... .... fc.UJ . U.'m 1 n U. 74 y c i9 6 The above quotations are taken from the daily official lists of the Wellington Stock ' .. ■ ' Exchange.. •

Variations Pn . ■ compared - lrlC0 .with , » last vrcok. ' " ! ! £ 8. d. 2i% Imperial Consols.;. 85 12 6 7s.Gd.lower i „ N.SAV. 1933Jan.-July ... 1C7 10 0 10s. lower ili „N.S.W.1918Mar-Sopfc ... 03 0 0 Unchanged b „ N.S.W. 1935 Apl.-Ocfc. ... 87 W 0 Vs. 6d. lower 4 „ Vic. 1S20 Jan.-July 101 0 0 Unchanged 34 ,, Vic. 1921-6.Jan.-July ... 1U0 0 0 10s. lower 3 ,, Vic. 1929-49 Jan.-July ... 89 10 U Unchanged S$ „ S.A. 1916 Jan.-July ' ... 99 0 0 5s. lower 3 ,','S.A. 1916 Jan.-July 87 0 0 Unchanged 4 „ QTdl915-2l Jan.-July ... 1C6 0 0 Unchanged 2-i QTdl924-30 Jan.-July . ... 99 10 0' Unchanged 3 „ yTdl&2-47Jan.-July ... 87 10 0 5s. lower 4 „ N.Z. 1C2 j May-No v. ... 10/ 15 0 5s. higher •3$ „N.Z. 1940 Jan.-July ... 99 15 .0 Unchangod 3 „ N.Z. 11)45 April-Oct. ;.. 83 0 0 Unchanged - Si ,, \V.A.l&2G-40May-Nov ... 99 10 0 Unchanged 3 „ W.A.1916-35AIay-Nov ... 83 15 0 5s. higher 3* • Tas. 1940Jan.-July ... 19 0 0 Unchanged 3 m Tas. 1920-40Jan.-July ... 87 10 0 IQs.lower