Farm and Commercial Section LATEST REPORTS from ALL CENTRES

Dominion, Volume 21, Issue 232, 2 July 1928, Page 12

Farm and Commercial Section LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. ? Flygcr’s Line, Palnierstim North, 12.30 p.m.—Sale of stock, account Mrs. A. M. Scliwamin (A. and W., Ltd.). 20 Elizabeth .Street, 1.30 p.m.—Sale of furniture (E. Juhustuii and Co.) TO-MORROW; State Eire Buildings, Quay, 2.30 p.m. —■ Sale of land (Commissioner Crown Lands.) 8 Willeston Street, 10.30 a.m. —Cargo (E. Johnston and Co.) Park Avenue,' Lower . Hutt. —Sale, account Messrs. Mason and Foster (11. E. Leighton and Co.) Levin stock sale. L WEDNESDAY. 14 Brandon Street, 2.30 p.m.—Sale of Lower Hutt residential section, opposite Bellevue Gardens (H. E. Leighton and Co.) ' Featherston Street, 2.30 p.m. —Sale .of property, Hutt Road (Bethune and Co.) 8 Willeston Street, 12 noon.—Sale of land, Karori (E. Johnston and Cd.) Farm, North Manakau Hoard, 12 noon, —Sale af dairy herd, account Bryant (N.Z, L. and M.)

PRODUCE MARKETS LONDON BUTTER AND CHEESE PRICES The New Zealand Dairy Produce Board has received the following market report from its London agency, dated June 29:— Butter. New Zealand— 29/6/28. Last week. Salted 1765.-178 S. 1745.-1765. Unsalted 180s.-186s. 1785.-180 s. Deliveries this week, 620 tons. In store, this week, (1700 tons. Australian—

Finest farmers . 118s.-120s. 118s.-120s. Market firm. Retail prices unchanged. Cargoes at London. Piako finished discharging butter on June 22; cheese, June 25. lonic finished discharging butter and cheese- June 22. Port Adelaide finished discharging cheese on June 26; commenced and iinislietl discharging butter on June 25. Steamers arrived this week:—Somerset: and Zealandlc, commenced discharging cheese June 28; Kia.Ora, not yet opened.

Amalgamated Dairies, Limited, have received the following market cablegram from London, under date June 28:—Butter: Market firm but quieter. Danish, 1675. f.o.b. Cheese: 105 s. and IOO.s. Market firm.

Messrs., A. 11. Turnbull nud Company have received the following cablegram from Messrs. W. IVeddcl and Company, Limited, dated Loudon, June 29 (previous week’s prices in parentheses):—Danish butter/1745. to 1765. (1725. to 17Gs.); New Zealand unsalted, ISOs, to 180 s. (178 s. to ISOs.); New Zealand salted, 1765. to 178 s. 1745. to 1765.). Market quiet. Cheese: White and coloured. 105 s. to 106 s. (103 s. to 1045.). Market firm. Canadian cheese: White and coloured, 102 s. to 101 s. (100 s. to 1025.), Messrs. M. A. Ijlliolt, Limited, Palmerston North, . have received the following cabled adviee from London:—Butter.— Quiet, 1765. to 178 s. Cheese.—Finn, 105 s. • toi 106 s. , ■’ J ', : >

The New Zealand Producers’ Cooperative Marketing Association's weekly cabled market report from London dated June 29 is as follows:— Butter.—Market quiet. ' New Zealand finest 1785., first grade J7Gs., unsalted 180 s. to 1865.; Australian, 1625. to 1685.; Argentine. IsBs. to 1625.; Danish, 1745. to 1765.; Esthonian, 160 s. to 1645.; Latvian, 1625. to 1645.; Siberian, 151 s. to 1545. ■ ' Cheese. —Market firm. New Zealand finest white and coloured 105 s. to 1065., first grade 103 s. to 101 s.: Australian coloured 1035.: Canadian white and coloured 102 s. to 1045.' ' . J*::- - /::-'■<. . ■

NEW ZEALAND BUTTER IN CANADA ' /"DAMAGING HOME PRODUCERS.” (Australian Press Association.) Vancouver. June 29. Speaking at Sherbrooke In an attack on I lie Tariff Board’s recommendations, Mr. Bennett, the Tory leader, declared tliat New Zealand butter was entering Canada to the detriment ot the home producers. Tiie United SJates, on the other hand, protected its farmers against New Zealand. The United .States Government legislated for the United States and protected the farmers’ industries. "Why doesn’t Canada do likewise?” he asked. “Who are we legislating for? The farmers of New Zealand?’.’

FROZEN MEAT LONDON MARKET REPORTS. (Rec. July 1, 5.5 p.m.) London, June 30. Nhepp. Canterbury.—Light 7 3-Bd., medium, 7d., heavy 7Jtl. . y , . North Island.—Light 7d.. medium <5 7-8(1. New Zealand owes 5 3-Bd. ■4 5 Lambs. ■ Canterbury.—Light IOJd., medium 9jd., seconds 9Jd. Other selecteds. —Light JOfd., medium 9 id. North Island. —Firsts, light 9 7-Bd., medium Old. Patagonian seconds 9 l-Bd. Frozen Beef. Australian hinds 5Jd. Chilled.—Argentine fores 4 3-8(1., hinds "id.: Uruguay fores 41-Bd., hinds 7d. Others unchanged. MEAT BOARD’S ADVICES. The New Zealand Meat Producers’ Board has received the following cablegram from Its London office, dated June 29. advising Smithfield delivered prices averaged for week ended that date as follow (price* for the two previous weeks arc. also shown within parentheses):— New Zealand wethers and maidens: Canterbury quality, selected brands, 501 b. anti under, 7 ,'i-Bd. per II). (7Jil., 7 5-8 d.): 57-0411).. 7(1. (7 1-Sd., 7 l-8d.); 05-7211)., fl’ll- (Old-. t'd'l.L Other brands. 561 b. and under. 7(1. (7|d.. 7 3-8 d.); 57-8411)., (1 7-Bd. (7(1., 7d.) : G5-721b., G 5-Bd. (G 5-Sd.. G 5-8(1.). New Zealand ewes: 641 b. ••ml under, 5 3-8(1. (51d., 5 5-8(1'.). New Zealand lambs: Cantoi bury qua!-, ifv, 3U1I). mid under, IOJd. HO 3-8(1., 10ld.i; 37-4211)., !i’,d. (!) 7-Bd.. IGd. ) 43-501 b.. 9 5-8(1. (!) 5-Bd., 9 5-Bd. i : seconds. !»|d. (!) 7-Sd.. !> 7-Bd.). ■ .Selected brands, olilb. nnd under. 10|d. <lO 3-Bd.. 10 3-8d.l: 37-1211).. OJd. (9 7-Sd.. 9 7-Bd.). Other brands, first i|tialily. itGlt). and under, I) 7-8 d (10(1.. 10 l-Bd.>: 37-4211).. OSd. (II 5-Bd., 9 5-8(1.): second quality, 30-3211). average, Kid. (10d.. 10(1.). Australian lambs: Victorian. first quality, 3111 b. and under, not quoted; 37421 b., not quoted. Argentine lambs: First quality. 3(111). and under, not quoted <Bld.) : 37-4211).. not quoted <Bd.). New Zealand beef: <>.v fores. 4d. (Id.. 4d.); ox binds. Gd. (lid.. •> (-8(1.1: cow fores. 3J(I. (31(1., 3|d.i; cow hinds. .5(1. (5d.. nd.). . : , Argentine burl: <Lx- fores, 4 4-8(1. (4AtL. 41<1.); ox hinds. 77<1. 5-8(1.. Tld.i. Argentine frozen beet: <>x tores, not quoted: ox hinds, not quoted Frozen pork: Porkers. 110-Sblb., 7|d. (74d.. 71d.): porkers. 81-9911*.. Gid. (G’fd., Gid.) : porkers. 100-121)11*., Gid. (♦*}<!., GJd.). Bneoners, 121-18011’.. 7*d. 47Ad., 7Jd.). Frozen veat, not quoted. Tleniarks — Bomb market : Slightly easier. Home-killed supplies heavier. Mutton market: Weaker. V*' 01, Firm with good demand. New Zealand baconer pigs: Stocks exhausted. New Zealand porker pigs: In poor demand owing Io hot wontlier.

Messrs. Levin and Coinpmty, Limited, have received the following cablegram from tlieir London ..gents, dated June 29Frozen meat (iiiotatlons (prices on a "delivered" basts, i.e.. Including storage .-barges, cartage, tolls, etc.lDown lamb: 28121 b.. in 1-8(1. per 11): best North Island, 28-4211)., 9 7-Bd.: ordinary North Island. 28-4211).. 9 5-8il.: second quality lamb, t) 7-8(1.: best North Island wethers, 48-R411... 7d.; ditto. Gt-7211).. G 5-Sd.: ordinary North Island wethers,’ 48-Gllb.. G 7-Bd. ;• North Island ewes ! 48-G4lb., 5 3-8(1.; ditto; G4-721b„ 5 i-Bd.i New Zealand Bilme’

ox beef: 160-2201 b., (sd. As compared with last week’s quotations, lamb is unchanged. Wethers and ewes l-Bd. per lb. lower. The demand for New Zealand lamb runs principally on light-weights. The market for mutton is weaker and the demand its poor.

LIVE STOCK SALES WESTFIELD .Messrs. Dalgety and Company, Limited, Auckland, report having held their weekly sale of fat stock at Westfield last Wednesday as under: — Beef.—An average yarding of both ox and cow beef met with keen competition, values being firm at late rates. Extra choice ox sold to 365. per 1001 b.; choice and prime, 345. to 355.; just killable, 325. to 335.; prime young cow and heifer beef, 305.; just killable, 255. to 28s. Sheep.—Another exceptionally heavy yarding met with a restricted demand. Bidding was slow and graziers bought a largo proportion of the yarding. There was, however, no quotable change in values. Heavy prime wethers made to £2 35.; medium, 375. to £2; light and unfinished, 31s. to 355.; heavy prime ewes. 345.; lighter, 295. to 325. 6d. A line of two-tooth wethers on account of Mr. K. Caldwell, Glen Murray, realised £2 Is. 6d. Lambs. —An average yarding came forward. Competition was scarcely as keen, but there was no quotable change in values. Heavy prime lamb made 305.; medium, 265. to 295.; light, 225. to 255. Calves.—Calves were penned in average numbers and sold freely at late values. Runners made to £5; heavy vealers, £3 ss. to £3 155.; medium, £2 10s. to £3; Iglht, £1 10s. to £2 Bs.; small, 10s. to 255.; fresh dropped, ss. to Bs. Pigs.—An increased number of pigs came forward, prices remaining firm. Choppers made £3, no heavy choppers being yarded; heavy baeoners, £4 Ils. to £4 145.; medium baeoners, £4 4s. to £4 10s.; light, £3 10s. to £4; heavy porkers, £3 to £3 10s.; medium porkers, £2 10s. to £2 18s.; light, £1 15s. to £2 ss. EKETAHUNA. The Wairarapa Farmers’ Co-operative Association, Ltd., report on the Eketahuna sale as foliotvs:—We offered a small entry of sheep which sold at full rates on last sale’s report. We quote: 32 fat wethers, 375.; 34 small 2-tooth wethers, 275. 9d.; 8 m.s. small lambs. 15s. Bd.; heifers in milk, £5 10s. to £6 17s. 6d.; springing heifers, £7 to £7 7s. Cd. FEILDING. Messrs. Dalgety and Co., Ltd., report having a very fair entry of sheep and a small entry of cattle at their Feilding sale on Friday. There was very fair competition for air classes of sheep and a total clearance effected. Quotations: Fat lambs, 235. 4d. to 3Gs. lOd.; light fat 2tootlis, 275. 9d.; fat ewes, 295.; tn.a. ewes r.w. Southdown ram, 28s. Bd.: 4 and 5-year ewes, r.w. Southdown ram, 325. 9d. : 2-tooth wethers 295. lOd.; empty ewes. 18s. Cd.; ewe lambs. 30s. to 38s. 4d.; small wether lambs, 18s. 2d., 20s. Id.; I;.f. lambs, 15s. 6d. to 18s. Cd.; 4 nnd 5-year p.b. Southdown ewes, 3} to 4gns.; 6-tooth purebred Southdown ewes, 7gns.: small 2year Jersey heifers, r.w.b., £5 15s. for line; springing cows, £9, £lO to £lO 155.; 2-year Jersey heifers, empty, £4 12s. fid.; 2-year Shorthorn heifers, empty, £4 145.; fat cows, £7, £B, £8 155.; prime fat heifers, £lO 15s. PROFITS IN CULLS Dominion Special Service. Palmerston North, June 30. What proved to be a profitable experience in the purchase of cull lambs was that of a Raugiotu farmer, who in an open sale last year purchased 30 cull lambs for Bs. per head. In October they were shorn, the clip averaging 9s. per bead. At the recent Mannwatu Winter Show three ewes out of this purchase were exhibited and each gained a first and champion prize, and Mere sold for G3s. each. Three wethers, gained first awards and were sold for 565. per head, and two ewes and one wether were disposed of for 575. each. So it. can be seen that this fanner invested £l2 and realised in Hie aggregate £39 Bs., besides providing his household with prime mutton during that period.

WELLINGTON STOCK EXCHANGE LAST, WEEK’S BUSINESS J :. AND PRICES . The business transacted on the Stock Exchange Inst week was smaller in volutup than In the previous week, but a greater, number of company shares were covered. Only a moderate business was done in bank shares, ami most attention was devoted to National Bank of Australasia (£5 paid!, fourteen parcels changing hands at £9 Its. C<3.. £9. and £8 19s, 6d. National Bank of New Zealand sold steadily at £7 55., £7 4s. Gd.; £7 4s. 9d.. and £7 6s. cum, dividend, which is payable in the course of a few days. Commercial Bank sold at 295. 7d., Australian Bank of Commerce at 365., 3Js. lid., and 355. 10d., Bank of New Zealand at 595. 3<1., 595., 5Ds. 3d., 595. 2d., nnd 595. Id.. English Scottish and Australian Bank at £8 Ils., Bank of New South Wales at £49 155.. and Union Bank at £l4 18s. 6d. The latter’s dividend for the half vear ended February 28, is-payable this mouth. A half year’s dividend on the shares of the Commercial Banking Company, of Sydney, is also payable this month, but there were no transactions in the shares last week. Restricted business was done in Government Securities. The 44 per cents, ehanged hands nt £9B 2s. fid., the 51 per cents, at £9B 125,-fid., Hie 54 per cents. (1933) at £lOO 155., and (1936) at £lOO 17s. 6d.: A half year’s interest on the 54 per cents. (1933) is payable this week. New Zealand Breweries bonds, on which the quarterly interest of 2} per cent, is now pavable, sold at 225. 6d. and 225. 74d. There was very little business passing in financial Ishares. Goldsbrough Mort bad quittance at 48s. (id., and New Zealand Loan and' Mercantile ordinary stock at £lO7 10s. Half-yearly dividends are due this month on the shares of Equitable Building, Wellington Trust and Loan, Wellington Investment, National Mortgage, New Zealand and River Plate, and Finance, Ltd. Insurance shares were firm, particularly National Insurance, which sold at 15s. 9d. and 15s. lOd. South British Insurance sold steadily at 60s. Gas shares were very quiet, and so were Meat and Woollen shares. Sales were registered of Auckland Gas at 235. 4d. and 235. 3d., New Zealand Refrigerating. 10s. paid, at Bs. Brl., and Wellington Woollen, ordinary, at £6 ss. Interim dividends are payable by the Auckland and Wellington Gas Companies for the half year ended June 30.

Transport shares were slow. Business was done in Huddart Parker ordinary at 48s. 4Jd., and Union Steam at 20s. 4)<l. Interim dividends on Kelburne Tram shares and New Zealand Shipping Company cuinilatlve preference shares, are payable this mouth. Small business was done in Coal shares. Westport Coal changed hands at 30s;, Westport-Stockton; ordinarj - , at 3s. lid., and Ilikurangi Coal, ordinary at ss. 2d., and preference nt Bs. 4d. The interim dividend on the shares of the latter company is due tliis month. Timber shares were dull, ami the ouly transactiou recorded was a sale of Ley-land-O'Brien Timber at 325. 9d. Moderate business .was done in brewery shares, with sales of New Zealand Brew pries at 41s. 3d., and 41s. 6d., Ward and Co. at. 41s. Bd., and Tooth’s Brewerj- at 435. Sd and 445. In tiie Miscellaneous section there was a goou turnover. British Tobacco sold at 435. lid. and 435. 9d. for the ordinary shares. A quarterly dividend on the cumulative preference shares is now payable. Other sales were New Zealand Farmers’ Fertilizer at 80s., Colonial Sugar at £59 17s. Gd.. Now Zealand Drug at 685.. 6Ss. fid., and fiSs. 3d. Burns, Philp and Co. at 445. 3d., Howard Smith at 235. 2d., Sanford Ltd., ordinary, at 20s. 3d., Taranaki Oil nt Ils., Ils. 3d., and Us. 4d., Dutilop Rubber nt 255. 4<1.. Holden's Motor Body Builders at 325. 4d., Wilson’s Cement at fills. 4A<J.. filis. fid., and 365. 9d.. Beath and Co. at 335.. and Fuller’s Pictures at 21s. In tiie mining section there was active . speculation in Mniifikipawa shares, 162 transactions lining recorded at prices ranging from 2s. fid. Io 4s. fid. Mount Lyell Mining sold at 325. Gd.. 325. 10d., 325. Sd.. and 325. 10d., ami Waihi at Us. and Us. Sd. Saturday’s, buying and selling quotations were us under:—

SALES IN OTHER CENTRES (By Telegraph—Press Association.) Auckland, July 1. Sales.—Bank of New Zealand, 595. 3d.; New Zealand Insurance, 425. 3d.; Auckland Gas, 235. 3d.; Colonial Sugar, £59 17s. Gd. Christchurch, July 1. ■Sales.—Commercial Bank of Australia, 295. 7d. (4 parcels); Commercial Bank of Australia (new fully paid), 2tfs. (odd lot); Bank of New Zealand, 595. Id.; New Zealand Breweries, 415.; British Tobacco (ex div.). 435.; Mahaklpawa, 4s. (4 parcels); Mt. Lyell, 325. 106.

COMPANY ACTIVITIES

TARANAKI OIL FIELDS, LTD. ’’ Taranaki Oil Fields, Ltd., report: for the week ended on Friday as follows:— Gisborne No. .1 well: Bottom joint of 4}in. diameter easing dropped, necessitating pulling string. Expect to be able to fish up loose joint and resume drilling in about one week.

BANKRUPTCY PROCEEDINGS PETITIONS FILED Tliirty-tive petitions in bankruptcy hare been filed in Wellington in the first six months of this year, ending June 30, as against eighteen for (he corresponding period last year. In addition to these, the Official Assignee hns been appointed liquidator for three companies. Five petitions were filed during June, compared with three iu June, 1927. During the month ended on Saturdayone petition in bankruptcy, that of a saddler, of Masterton, was filed iu the Wairarapa (states a special service telegram from Masterton). In June last year also one petition was filed in the district.

A decrease in bankruptcy figures is recorded for June in Palmerston North, five petitions being filed compared with seven for June, 1927. The occupations of the petitioners vary considerably, . a sharemllker, a storekeeper, a labourer, a carpenter and a native interpreter being among those tiling in June. For the sir months ended June 30 there have been 20 bankruptcies filed in Palmerston, compared with 30 for the same period in 1927.— ‘Dominion” Special Service. , LONDON MONEY MARKET The Bank of England return for the week ended Wednesday, Juae 27, disclosed a reserve of gold coin und bullion amounting to £169,(134.000, which is a record, and nearly £500,000 larger than Hie previous week’s total. The bank return as a whole is the strongest recorded since the outbreak of war. At uo time last year did the gold holding reach £ 156,000,000. Tiie highest was £155,417,610 for the week ended May ..1.8, 1927. The metal reserve is about £19,000,000 greater than when the reversion to the gold standard took place on April 28, 1925. The crucial index of the Bank of England’s position is the ratio borne by the reserve of notes and coin in the Banking Department to the liabilities. This proportion stood at the time of the return to gold at 22.1 per cent... while on Wednesday, last it stood at 43 per cent. In the last week of April last the proportion was 40.3 per cent., and exceeded 40 per cent, for the first time since July, 1913. The present proportion of 43 per cent, is a record. The Bank of England has been securing gold rapidly and during the past two months has added over £10,000,000, some of the metal coming fyom Russia. This strong position lias been built up notwithstanding that, money rates, or rather the rediscount rate of the Federal Reserve Bank of New York is, at 4} per cent., on a parity with the Bank of England minimum discount rate. And the sterling exchange rate still sees the £ at a premium, the T.T. rate being 4.87 21-32 dol. to the £. The strengthening of the bank’s gold reserve may be in anticipation of the bank taking over the Government currency notes, and as the necessary legislation was before the House of Commons about six ■weeks ago it. is probable that the fusion was to begin with the beginning of the month. Were it not for the high rate ruling in New York the Bank of England rate would have been reduced some time ago. The country lias emerged remarkably well from/tiie three very dlflir cult years that succeeded the momentous step taken in April, 1925. and it is no wonder that, so prominent a banker as Mr. F. C. Goodenough, chairman of Barclay’s Bank, wns moved io remark recently: “1 have great confidence in the future. A .recovery of business Ims begun and should continue. I have the feeling ilia! our turn for n spell of greater prosperity lias arrived. I feci sure that there is an infinitely greater future in store for Groat. Britain than ever in (he past.” New Zealand is bound id share in Britain’s prosperity.j-, .

UNITED STATES’ FINANCE AND TRADE

We are indebted to Mr. Julian Foster, the United States Trade Commissioner tuow located iu "Tiie Dominion’’ building) for a copy of a pamphlet dealing with the state ol finance and trade in the United States during the month of April, which has been issued by (he Department of Trade, the head of which is Mr. H. Hoover, tiie Republican candidate for Hie Presidency.

Among other things the pamphlet says:—

“Automobile production is forging ahead at a rapid rate. For. the industry as n whole, the output for March totalled 412,825 units, an increase of 27.5 per eent. over the preceding month anil 4.G per eent. over March, 1927. For the first quarter. total production showed mi Increase of 3.1 per cent, over the like period a year ago, and, if Ford’s production is excluded from both years, an increase of almost 30 per cent, is showii. During the month of April the trend of production nnd sales continued upward: spotty sales conditions have virtually disappeared, mid a number of plants are operating at or near capacity levels. Competition Is keen, especially in the low and medium-priced models. The automotive parts and accessory industry is making great strides also. Makers of motors, bodies and other parts and accessories for original equipment of cars, reported shipments in March far ahead of the like month last ye.qr. and exceeding the pace of October. 1925, which previously had held the record. “Trading on the New York Stock Exchange last month (April) was the heaviest of any April on record. Transactions totalled 80.568,80.5 shares, compared with 84.987.834 shares in March, which was the record month. There was a tremendous demand for stocks throughout the entire month, with-one groun after another taken in hand and advanced to new high levels. The raising of the rediscount rate of five of the Federal reserve districts and the consequent firmer tone of call money rates had very little effect on the volume of trailing Eighteen of tlie twenty-one full du vs registered well above the three million share mark, ami nine of these exceeded four million. The trend of prices was deflutely upwards, though unsteady at 1 tipwa. The average 21

road stocks opened . the month at 119.43. reached a new high point at 127.16 on: April 27, and Closed the. month at 124.80, a net gain of 4.37. The average of 25 industrials opened al 264.26, reached a new high at 269.75 on the 13th, and closed the month at 264.4!!, a net gaiu of .23. "Building construction continues to hold its place as one of the strongest elements in the present industrial situation. Contracts awarded in thirty-six Eastern States from January 1 to April 30 were valued at 2,051,932.000 dollars, an increase of 6.3 per cent, over the corresponding period last year. The greatest gains are shown by the Chicago and Boston districts, while the greatest losses occurred In the Minneapolis and Pittsburg districts. "The increase in industrial activity is reflected in increased orders for machine tools. The three months’ moving average of gross orders for January, February, and March stood at 213. This compares with 196 for the previous period, and is the highest of any time since the early part of 1920. According to the National Machine Too) Builders’ Association shipments for March were again below the level of net orders.”

Each month Mr. Foster sends a comprehensive report to Washington dealing witli every aspect of trade and commerce in this country, and not neglecting any economic or political angle iu the affairs of the country, so that his department —nnd through his department every manufacturer in the States—knows exactly where New Zealand stands at any time.

INTERNATIONAL SECURITIES

Booms have been experienced on the London Stock Exchange, ami the Paris Bourse as well as the New York Stock Exchange, and continued in all three centres for some weeks. With respect to the London Stock Exchange boom, it is stated by Beiisha and Co., stock and sharebrokers, that ft is becoming increasingly apparent that'one of the main causes of the prolonged and aggressive character of the boom has been the increased buying of British stocks and shares that has taken place on foreign account. The listing of Funding and War Loans in New York is symptomatic of the enlarged attention which America has been paying to n numerous band of Well-known Brltislt industrial shares. Nor has the . Continent been idle. This foreign influence cuts two ways, for in the event of a monetary flurry or any other disturbance occurring abroad London might feel the effects of foreign selling. In a smaller way, New Zealand and Australia are buying, shares of joint stock companies of either' country. In New Zealand share lists several banks, finance companies, shipping companies, breweries, and industrial companies of Australia are listed, while in Australia New Zealand banks, Insurance and other concerns are listed. This internationalisation of securities makes for active trading, ami assures to holders of shares a wide market when desiring to sell. : ’ customs’ REVENUE? The customs ' revenue collected at the port of Wellington on Saturday totalled £973.' j . FOREIGN ITEMS PRICES OF RAW MATERIALS' ' (Australian Press Association.) (Rec. July 1, 5.5 p.m.) *■ London, June 30. Cotton.—Liverpool quotation for American middling upland cotton, July delivery, 11.89 d. per lb. Rubber.—Fine hard Para, lljd. per lb.: plantation, first latex crepe and smoked ribbed sheet, l)jd. , . .. Jute.—July-August shipment, £3l 15s. per ton. - ; ' , New Zealand: hemp.—June-August shipment, £3O ss. per ton. Copra.—July-August shipment, £26 7s. Gd. per ton. Linseed Oil.—r£29 15s. per ton. 1 Turpentine.— l4s. Od. per. cwt. J ' P. AND O. STOCK. ' London, June 29. °' deferred stock is quoted at jOS. v /bj '- L'-'- • • ’ CHICAGO WHEAT FUTURES. . L Chteagro, June 29. wheat futures are quoted as follow;— i *ss3-8 cents; September, 3 dollar 38i cents; December, 1 dollar 421 cents. ■*

Finest salted .. 162s.-168s. 162s.-166s. Exceptional 170s. 168s. Unsalted 166s.-172s. 166s.-16Ss. Exceptional Argentine— 174s. 170s; Finest unsalted . 158s.-162s. 158s.-162s. Irish creamery— 170s.-172s. Salted 1G8S.-170S. Unsalted Dutch creamery— 172s.-174s. 171s.-176s. Unsalted 168s.-170s. 166s.-168s. French baskets— Salted and unsalted Esthonian— 140s.,162s, 156s. Salted 160s.-164s. 162s.-164s. Unsalted 102s.-166s. 164s.-166s. Latvian— Salted 162s.-161s. J 62s. Siberian— .Salted and un-. salted 153S.-151S. 152s.-154s. Exceptional 156s. 156s.-1G0s. Ukrainian ....... lols.-loSfi. Polish Lithuanian — 146s.-158s. 150s.-158s. Salted and uusalted 152S.-158S. Not. quoted Danish, 174s.-176s. spot, 167s,-168s. f.o.b., 172s.-176s., ICSs.-l 'Os. Market quiet. Retail prices increased to Cheese. New ZealandWhite and coloured Deliveries this week, 105s.-106s. 103s.-101s. 23,500 crates. In store, this week, 56,500 crates. Canadian— White and col-100s.-102s. oured Australian— 102s.-101s. Coloured 103s. 160s.-102s.

Buyers. Sellers. N.Z GOVT. EUANS— £ s. d. £ s. d. 44 p.c. Ids; Stk.. 193*. 98 2 G . — •U p.c. ditto, 1938 ... 98 2 6 5f p.c. ditto, 1941 ... .... 99 2 C» 5} p.c. ditto. 1933 . . . —— 99 0 0 4* p.c. Bonds. 1939 .. 98 5 0 . •It p.c. ditto, 1II3S ... 98 2 G 44 p.c. ditto. 1930 ... 98 5 0 —— 5i i>.e ditto. io:r> ... 100 12 6 54 p.c. ditto, 1930 ... lot 0 0 DEBENTURESWellington Gas 100 (l (I N.Z. Breweries (stock) 1 2 3 — - Ditto (bonds) ...... 12 5 1 2 9 BANKS— Australian Bank of Co tn me rec 1 15 7 1 1G 0 Commercial of Aust. (ord.) —. 19 8 Commercial Banking Co. of Sydney .... 27 0 0 27 5 0 English. Scottish, and Australian 8 10 0 — National of N.Z 7 -1 G National of Australasia (£5) 8 19 G 9 0 o New Zealand 2 18 9 2 19 3 Union of Aust. — 15 0 0 Ditto i Melbourne refiisterl 14 m a J5 l. QJ

FINANCIAL— Goldsbrough, Morl . . 2 9 0 N.Z. Gunrauteo Corp. (ord., 8s.) 0 s 8 0 9 0 Ditto (pref.) .1 I (i Well. Trust, Loan .. 6 19 0 Well. Deposit, mid Mortgage 0 9 rt GASChristchurch 1 4 1) 1 4 (■> Ditto (contrib.) n 11 JI Wellington (ord.) ... j 8 .10 —— . INSURANCE— National 0 K> 11 New Zealand 0 —— MEAT PRESERVING— Gear 1 JO N.Z. Itefrigerat. (10s.) — . I) 8 10 TRANSPORT— Iluddart, Parker (ord.) 8 . 0 2 8 <8 Ditto (pref.) .1. o 9 Union Steam (pref.).. 1 0 —— Keib. and Karori Trani. (ord.) 1 6 .1 WOOLLEN— Kalapoi (ord.) 0 9 0 Wellington (ord.) ... (j 4 . — Ditto (pref.) 6 (i 0 . COAL,— Hikurangi (pref.) .. n 8 0 .10 0 Westport 1 10 II — TIM BEK— Leyland-O’Brien 1 14 o National • 0 li 0 BREWERIES— New Zealand 0 0 — Staples and Co * . —- ■ I. 16 6 MISCELLANEOUS— British Tobacco (Aust.) (ord.) A* o 2 1 0 Burns. Philp, and Co. 0 2 6 6 Dental and Medical Supply — 0 14 6 Dominion Investments J 6 —— Electrolytic Zinc (pref.) 1 12 6 1 13 3 Holden’s Motor Body Builders 1 12 3 1 13 0 Howard Smith 1 7 6 •—• N.Z. Express (ord.) .. —— ■ .10 0 N.Z. Paper Mills .... — — 0 16 u ■Well. Queen’s Theatre 1 0 6 —— ■Wilson's Cement .... 1 10 10 1. 17 6 MINING— Mount Lyell 1 12 9 1 13 1 Walhi 0 11. 6 0 12 0 Waihi Grand Junction 0 1 — — Kawarau —— 0 0 8