Farm and Commercial Section

Dominion, Volume 22, Issue 50, 22 November 1928, Page 12

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. 31 Grant Road, 10.30 a.m.—Sale of Building materials (C. W. Price). 8 Willeston Street, 1.30 p.m.—Sale of office furniture (E. Johnston and Co.) TO-MORROW. Elliott Street, Auckland—Sale city proporty, 12 noon (Roberts and Co.) EGGS AND EGG-PULP QUANTITIES in cold storage. The results ot the collection of statistics relating to eggs and egg-pulp in cold Btor-a-e as at October 31, are as follow, the figures for July 31 appearing in pareu-

> LONDON WOOL SALES

OPEN TO STRONG MARKET ADVANCE ON OCTOBER PRICES (Australian Press Association.) London, November 20. The November series of wool sales have opened to a strong market, and prices have advanced by from 5 to 10 per cent, on the closing rates of the SeptemberOctober series. The offerings included 4050 bales Australian, and 2482 New Zealand; There was a fair selection of merinos and slipes, but no greasy crossbreds. The series opened with a crowded attendance "f buyers from all centres, and were marked by spirited competition, the catalogues being practically all cleared. Shafty combing merinos and pieces met with strong Continental demand and sold at 5 per cent, above the October closing rates. Fine greasy lleeces and scoured wools sold at par to 5 per cent, higher. New Zealand slipes met with a much stronger market and advanced on October series closing rates by from 5 to 10 per cent. Three-quarter-bred combings showed the greatest appreciation. Lambs’ wool was in small supply, but generally advanced by 5 per cent. Realisations of Australian brands were as follow:—Goondooblule, highest price 26d., average 233 d.: Bundure. 25}d. and 24d.; Warrnambool Downs, 19(1. and 18d.; Noondoo. 21d. and 2O}d.; Warraweena, 21}d. and 20d.; Kynuna, 21d. and 19Jd.; Albion Downs, 19(1. and 17}d. Scoureds: Marathon, 44J<1. and 43d.; Corona, 44Jd. and 42d. BROKERS’ ADVICES. Messrs. Levin and Co., Ltd., have received the following cablegram from their Loudon agents, dated November 20:—"The auctions opened here to-day with a large attendance of Home and Continental, buyers. There is good general competition, and a better tone prevails all round. As compared with closing rates of tlie last series, we quote:—Greasy Merinos, best, Id. to IJd. per lb. higher; average, Id. to IJd. per lb. higher; greasy halfbreds, and greasy crossbreds, not sulllcientiy represented to warrant quotations at present; fine slipes, 5 per cent, to 7} per cent, higher; medium slipes, 5 per cent, to 71 per cent, higher; coarse slipes, par to 5 per cent, higher; scoured crossbreds, 7} per cent, higher; scoured Merinos, 5 per ceut. higher. According to present arrangements. the sales will close on December 5.” Messrs. Murray, Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated November 20: —“Sales have opened—large attendance of buyers—competition good; all sections operating freely: Merino, par to 5 per ceut. advance; Merino pieces and bellies show the greatest advance; crossbred greasy, none offering; crossbred scoured, par to 5 per cent, advance; slipe fine and coarse crossbred, advanced 5 per cent.; slipe medium crossbred, advanced H per cent.” Messrs. Dalgety and Company have received the following report from London, dated November 20:—“Wool sales opened active; competition animated; large attendance; good selection of Merinos and slipes: greasy crossbred not represented. As compared with closing rates of last series: Good Merino greasy, Id. to lid. higher; other descriptions Merino greasy, par to Id. higher; Merino scoured, lid. to 2d. higher; crossbred scoured, lid. to 2d. higher; slipe. Id. to 2d. higher.” Messrs. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., report having received cable advice from their London house, reading as follows:— “Wool sales opened with an average attendance of buyers. Competition throughout the sale was animated. Coarse sliped wool sold from par to 5 per cent, higher. Medium and fine qualities, 5 to 7} per cent, advance. Up to time of cabling no greasy wools had been offered.” The Bank of New Zealand, produce department, has received tlie following ndvice from its London office, under date November 20:—Tlie sales have opened with strong competition and large attendance of buyers. There is an active demand by all branches of the trade. Greasy merino Is Id. to l}d. dearer; slipes are on an average 71 per cent, dearer: scoured crossbreds. 7} to 10 per cent, dearer; no greasy crossbreds offered. The Loan and Mercantile Agency, Ltd., have received the following cablegram from their London house, under date November 20: —“There was a good attendance at the opening of the sales to-day, competition by Continental buyers being active, and prices, as compared with the close of the preceding series, ruled par to 5 per cent, higher for Merino wool, and 5 per cent, to 7} per cent, higher for crossbred slipe. Fair Homo demand. Greasy crossbred has not been offered. The opening catalogues were fairly representative.” STRONG COMPETITION AT SYDNEY By Telegraph.—Press Association. (Rec. November 21, 10.25 p.m.) Sydney, November 21. . At the wool sales there was an active market and strong general competition, 12,127 bales being sold. Greasy Merino macle to 30|d. per lb. STRATFORD A. AND P. SHOW CHAMPIONSHIPS AWARDED. (By Telegraph.—Press Association.) Stratford, November 21. The A. and P. Show opened to-day in splendid weather. Tlie following championship awards were made: — Sheep. Romney Marsh.—R. W- Hunt (Waverley.b ram and ewe. Southdowns.—Ram, A. H. Bowen (Stratford) ; ewe, A. A. Verry (Waitotara). Corriedales. —Ram and ewe, Jas. Wood (Stratford). Cattle. , Friesian. —Bull, H. Johnson and Son (Stratford); reserve, H. Johnson and Son. Cow, T. H. Richards (Stratford); reserve, Johnson aud Son. Ayrshire. —Bull, J. O. Morton (Egniont Village); reserve!, F. Mills (Hawera). Cow, F. Mills; reserve. F. Mills. Shorthorn. —Bull, J. C. Wright (Normanbv): reserve. W. P. Booten (Rawhltiroa). Cow, J. C. Wright; reserve, W. P. Booten. Jersey.—Cow, Mentone Jerseys: reserve, Truby King (Stratford). Bull, J- S. .Tones (Bell Block) ; P. J. Petersen (Waitara), reserve. Pigs. Berkshire. —Boar, A. R. Guddop (New Plymouth); Hawera Hospital Board, reserve. Sow, J. Tomlinson (Hawera) ; Hawera Hospital Board, reserve. Tamworth. —Boar, T. Tomlinson; I’. Ogle (Normanby), reserve. Sow, F. Ogle, champion and reserve. Large White. —A. O’Sullivan (Cardiff), boar; S. McCrae (Patea), reserve.

LIVE STOCK SALES ADDINGTON By Telegraph.—Press Association. Christchurch, November 21. Entries were large at to-day’s weekly Addington market, particularly of fat sheep, the entries of which exceeded normal by 40 per cent. The good feed is fattening stock rapidly. A fr n e sale for practically all classes of stock was experienced. Store Sheep.—Heavier entry than usual, mostly wethers out of the wool or mixed quality and condition. For these the sale was a sound one at last ■week’s rates. Ewes with lambs tended to lox slightly. A big line of Merino wethers made from 9s. to Ils., ewes and lambs ISs. 6d. to 225., inferior ewes and lambs 15s. to 18s.. good wooiled four aud eight-tooth ewes 335. to 365. (id., ordinary ewes 28s. to 315., shorn ewes 265., best shorn wethers 255. to 275., ordinary shorn wethers 21s. 6d. to 245., backward wethers 17s. Cd. to 19s. Gd„ Merino shorn wethers 9s. to Ils. Fat Lambs.—An entry of 777 -well finished lambs, and a spirited sale, prices averaging up to Is. a lb. Best made to 365. 7d., prime 325. to 345„ medium 295. Cd. to 31s. Cd., light 275. to 295. Fat Sheen.—A very heavy yarding of 144 races, all but a few drafts shorn. The over-supply met with an easier demand by Is. Cd. to 2s. a head over the early stages, but improved later, although there was a slide back in the final stages. Mutton is still well ahead of prospective freezing values. Extra prime shorn wethers made to 40s. Id., prime shorn wethers 355. to 38s. Cd., medium shorn wethers 31s. to 345. Cd.; light shorn wethers, 265. to 305.; extra prime woolly wethers, to 525. 4d.; prime woolly wethers, 445. to 48s. Cd.; medium woolly wethers, 40s. to 435.; extra prime shorn ewes, to 445. 4d.; prime shorn ewes, 345. to 3Cs.; medium shorn ewes, 30s. to 335. Cd.: light shorn ewes, 245. to 295.; extra prime woolly ews. to 475. lOd.; prime woolly ewes, 38s. to 425. Cd.; ordinary woolly ewes, 335. to 375. Fat Cattle.—Four hundred and eighty yarded, the quality not being so good as last week, the heavy cow element predominating. The sale was irregular, but on an average maintained last week's rates for good beef, but was easier for heavy plain cows. Extra choice medium weight steer beef made in a few eases up to 51s. per 1001 b.; good steer beef, 455. to 485.; plain heavy steer, 375. to 405.; best heifer, 445. to 475. 6(1.; best cow, 41s. to 445.; inferior steer, 38s. to 415.; medium heifer, 395. to 425.; medium cow, 335. to 3Cs.; and rough, down to 30s. Extra prime heavy bullocks, made to £23 2s. Cd.; prime heavy steers, £l9 to £2l; medium weight prime steers. £l6 to £lB 10s.; ordinary steers, £l2 10s. to £l5; extra prime heifers, to £18; pHtne heifers, £l3 to £l5 10s.; ordinary heifers, £lO to £l2 10s.; extra prime cows, to £lB 17s. Cd.; prime cows, £l2 15s. to £l4 155.; ordinary cows. £lO to £l2 55.; aged cows, £6 10s. to £9. Vealers.—A good sale for useful sorts. Best made to £8; medium, £3 10s. to £5 155.; small calves, 15s. to £2 10s. Store Cattle.—A line of 4C eighteenmonths to two-year-old steers and heifers made from £4 Is. to £7 95.: cows sold from £5 to £6 175.. Cd.; medium, £3 to £4 155.; aged and inferior, 30s. to £2 10s.; bulls. £3 to £B. Dairy Cattle.—A small entry of 40 head and a keen sale. Good second to fourth calvers made £8 10s. to £l3; extra good, to £l5 155.; medium, £6 to £8; extra good heifers, to £lO 10s.; others, £0 to £9. Fat Pigs.—Porkers were again in oversupply, but baconers were fewer than normal. Porkers dropped further in price nnd baconers improved. Choppers made 355. to £5 3s. Cd.; light baconers, £3 ss. to £4; heavy. £4 2s. fid. to £4 Ils. Cd. (average per lb„ 6Jd to 7d.); light porkers, 335. to 375.; heavy porkers, 40s. to 555. Cd. (average per lb., s}d. to 7d.). .Store Pigs.—A large entry and an improved sale. Wcaners made Os. to 165.; stores, 17s. to 255.; large to extra large, 28s. to 325. BURNSIDE By Telegraph.—Press Association. Dunedin, November 20. All classes of stock were easier at the Burnside stock sales to-day, and the market was unusually lifeless. Requirements were greatly short of the supply. There were 222 fat cattle yarded. The quality was good, but there was a slack demand from the outset, which did not Improve. Values were from £1 to £2 below late rates right throughout. No doubt the hot weather made butchers afraid to buy anything but bare requirements, particularly as the meat would have to keep longer as a result of the earlier sale. Best bullocks made to £23 10s.. and prime from £lB to £2l. The prices per 1001 b. were as follow: Extra prime ox beef 485., medium handy-weights 405., prime heifers 455., and cows and. light heifers 355. to 455. > The store cattle entry was small, and there were few quotable lines, but anything that showed any breeding sold well. There were only about 1200 fat sheep, but even here the butchers were not keen, with the result that a lifeless opening grew worse. Prices' were down by 3s. per head for heavies, and 2s. per head for lighter weights. Prime woolly wethers made to 555., and shorn to 375. Cd. Ewes in the wool were sold at fair prices, the best being up to 435. 6d. Shorn stuff made from 255. to 345. Prime woolly wethers made 7d. per lb., shorn sd. to s}d„ and ewes 4d. to sd. The largest yarding of fat lambs to date was forward, and the quality was exceptionally good. The supply was far in excess of the demand, however, and since butchers’ requirements were smll, pries fell by from 4s. to ss. ' The best sorts made to 355., and lighter weights brought from 235. to 30s. JOHNSONVILLE Messrs. Wright, Stephenson and Co., Ltd., and Messrs. Abraham and Williams, Ltd., report on the Johnsonville sale held yesterday as follows: — "There was a small attendance of butchers, and we offered an average yarding of sheep, lambs and cattle. The sheep offered were of good quality, but wethers were dull of sale. Ewes sold readily et last week’s rates. Lambs were in larger supply than usual and prices showed a slight decline, owing to the absence of competition. ' The bullocks offered were heavy to medium weight. Prices for heavy cattle showed a decline on previous sales. Medium and light-weight bullocks met with a good sale. Cows met with a good demand, while vealers were keenlysought after, high prices ruling. “Quotations: —Bullocks, £l3, £l5 10s., £IC 12s. Cd., £l7 2s. Cd., £l7 55., £l7 10s„ £lB 17s. fid., to £l9; cows, heavy. £l2 10s„ £l3. £l3 2s. Cd., to £l3 55.; cows, light, £4 to £4 10s.; vealers, £4, £4 55., £4 155., £5. £5 10s. to £5 12s. 6d.{ wethers, 325. fid.; ewes. 245. 5d., 205., 265. Bdl, 275. 5d., 275. 8d„ 28s. Id. to 28s. 4d.: lambs, 275., 2Ss. Cd.. 28s. 9d., 295. Cd., 30s„ 30s. 9d., to 325. i)d.” MASTERTON. Messrs. Dalgety and Co., Ltd., report as follows on yesterday’s Masterton sale:—A small yarding of sheep and a fair entry of cattle were submitted to the usual at tendance of buyers. Competition was on a par with recent sales, with prices ruling as follow: Fat shorn ewes. 265. Oil.; shorn ewes with w.f. lambs, 305.; yearling Hereford steers. £7; dairy-bred steers. £5 7s. lid.; yearling Hereford heifers, £5 10s.; einptv dairy cows, £6 Bs.; empty heifers, £8 15s. Tlie New Zealand Farmers’ Co-operative Distributing Co., Ltd., report on their Masterton sale as follows:—We had a fair entry of sheep, cattle, and pigs, which were offered to a good attendance of buyers. Competition was on a par with previous sales, and we report as follows:—-Good woolly hoggets, 355. Id.: ewes and lambs. 355. Cd.; forward woolly ewes, 285.; fat shorn ewes, 255. Id.; fat shorn maiden ewes, 255. 3d. to 205.; forward shorn fourtooth wethers. 275. 7d.; cows and calves, ’£7: coloured two-year steers, £G 10s.; store cows, £2 Ils.. £3 10s. to £4 10s.; springing heifers. £7 12s. Cd.; yearling Jersey bull. £4. Pigs: Slips. 235.. 235. Cd. to 245. Cd.; small porkers, 275. 6d.; good weaner pigs, 205., 21s. Gd. to 225.; small weaner pigs. 14s. WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES At the afternoon call yesterday sales were made on ’Change of Burns, Philp at 445. 3d., and New Zealand Breweries shares (three parcels) at 545. 3d., and sales were reported of 4} per cent. Government Bonds (1930) at £99 10s.. National Bank of Australasia, £5 paid at £9 125., South British Insurance at 03s. 9d„ and New Zealand Breweries shares at 535. and 555. There was a moderate demand for Government stocks and bonds. Tlie 4} per cent, stocks were wanted at £9O 55., ami the 51 per cents, at £lOl. I’etone and Lower Hutt Gas. per cent, debentures (1057) were in demand at £99 10s. Bank shares were inclined to be slow. There were blds of 335. 3d. for Australian Bank of Commerce, 30s. 3d. for Commercial Bank of Australia. £9 Ils. Gd. for National Bank of Australasia, £5 paid, £5l 15s. for Bank of New South Wales, fils. fid. for Bank of New Zealand, and £l5 Gs. for Union Bank. Sellers quoted £“7 15s. for Commercial Bank of Sydney. 13s Cd. for E.S. and A. Bank, and £7 4s for National Bank of New Zealand. There was Utile business offering in financial. insurance, and gas shares. There wore buyers of New Zealand Loan mid Mercantile, ordinary stock, at £llB, Equitable Building at £8 55., Wellington Investment at 10s. Bd., and 'Wellington Trust and Loan at £6 IDs. Christchurch ’ Gas were steady at 205., aud Gisborne Gas

at 9s. Cd. Wellington Woollen, ordinary aud preference, were wanted at £7 35., and Huddart-Parker at 475. lOd. New Zealand Breweries shares were steady at 545., and Staples and Co. at 41s. Cd. There were buyers of British Tobacco at 445., Burns, Philp at 445., Electrolytic Zine, ordinary at 345. 9d. and preference at 365. 3d.. Holden’s Motor Body Builders at 295., Wilson’s Cement at 415., Gasco Bricks at 245., aud Mount Lyell at 395., cum. dividend. Yesterday’s buying and selling quotations were as under:—

SALES IN OTHER CENTRES (By Telegraph.—Press Association.) Auckland, November 21.' Sales.—Tamakl West Road debentures, 1959, 51 per cent., £102; Mt. Eden Borough, 1908, 5 per cent., £102; Inscribed Stock, 1933, 51 per cent., £lOl 10s.:, 1931, 0 per cent., £lOl 7s. Cd.;./Union Bank .of Australia, £l5 7s. fid.: New Zealand Insurance, 475. 3d.;: South British, 645.'; Hikurangi pref., Ils. 2d.; Auckland Gas, 235. 4d.; New Zealand Breweries', 555.: Wilson’s Cement, 415.; Wallti, 14s. lid., 14s. 7d., 14s. Bd. ‘ . Christchurch, November 21. Sales.— Goldsbrough Mort, 525. sd. (2 parcels); Kaiapoi. 'Woollen (17s. paid), 13s. 9d.; New Zealand Breweries, 545. (C parcels), 555. 3d. (2 parcels), 555. 9d., 505,; Staples’ Brewery, 41s. 9d.; Beath and Co., 38s. Cd.; Electro ZtnC (pref.), 365. 2d. (2 parcels), 365. 5d., 375. (5 parcels); Holden’s Motors, 80s. 3d.; Mahak'ipawa, Is. -.(5 parcels) ; Colonial Sugar, .£s9'l7s. Cd. Sales Reported,—Petone and Lower Hutt Gas Board, 5 5-8 per cent., 1957, £100; New Zealand Breweries, 535. -Gd. Dunedin, November 21. Sale' Reported.—National insurance, 16s. lid. ’ COMPANY ACTIVITIES ABRAHAM AND WILLIAMS, LTD. The balance-sheet of Abraham and Williams, Ltd., . for the year ended September 30, discloses a net. profit, of £16,775, which contrasts, with £15,559, the net . profit.earned in the previous year. . There was brought forward £14,059, making available £30,834. The dividend of 5* per Cent, on preference shares absorbs £4921, and 5 per cent, on ordinary shares £lO,Oll, leaving £15,302 to be carried forward. The dividend distribution is the same as in the previous year. The paid up capital is £204,240, of which £82,020 is in preference shares. The reserve account Is unchanged at £20,500, bank overdraft £23,267, against £31.556, and sundry creditors £89,739, against £70,108. The assets total £450,815, • against £438,290,. and comprise property account £71,336, as compared with £73,042 in the previous year, sundry debtors (less reserve) £340,943, against £318,669, bills receivable £172, against £5BO, goods and merchandise account £11.803, . against £20,830, plant account £5995, against £4534, shares in other companies £560, against £627, and cash on deposit at short call £20,000. NEW ZEALAND FARMERS’ DISTRIBUTING COMPANY The net profit of £IO,SIG earned by the New Zealand Farmers’ Co-operative Distributing Company for the year ended September 30 is more than double the amount of the profit (£5003) earned in the previous year. It is obvious that the business of the company is expanding under careful and prudent management The sales for the year, inclusive of land sales, show the substantial increase of £228,253. The gross profit on trading was £25,782, against £24,217 in the previous year, and commission and storage charges yielded £33,071, against £27,444, the total gross revenue being £58,853, against £51,662. The trading and other expenses totalled £35,770. against £34,545; interest, rent, rates. £5384, against £5469; stamps, telegrams, etc., £2095, against £IB9G; depreciation on plant, etc. , £2399, against £1994; and bad and doubtful debts, £2380, against £2753. To the net profit of £10,816 must be added £lOOB. the amount brought forward. making available £12.724. Out of tills a dividend of 6 per cent, is to De paid on the called up capital, £l5OO is written off properties for depreciation, £lOOO is added to the reserve for bad and doubtful debts, which will then stand at £5OOO, and £2OOO is to be placed to general reserve fund. The outside liabilities are deposits £15,335. against £15.469; sundry creditors £24,130, against .£19,847; and bank overdraft £25,289, against £36.271; the total being £65.254. against £71.590. The assets total £ 157,757, as against £ 182.4G6, and include properties £67,281, against £66,712; stocks £25,792, against £24,922; plant £10.740, against £9722; sundry debtors £81.263, against £78,951: and two other small amounts. The paid up capital is £95,739. TARANAKI OIL FIELDS Taranaki Oil Fields, Ltd., Issued the following report for the week ended November 17: Gisborne No. 2 well: Drilled to 189 oft. in shale; lOin. diameter casing to lS7sft. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £20.357. FOREIGN ITEMS THE WHEAT MARKETS. (Australian Press Assn. —United Service.) (Rec. November 21, 5.5 p.m.) - London, November 20. Wheat.—Cargoes are firm, thanks to sustained Indian demand. Australians generally arc 3d. Io Cd. per quarter up. Two cargoes by unnamed vessels due from Calcutta in December and January sold at 455. 3d., and a December guaranteed cargo at 455. Gd. Parcels are in moderate request at an advance of 3d. Liverpool futures: December, 9s. 3 5-8(1. per cental; March, 9s. 4 3-Bd.; May. 9s. 4 7-Sd. Chicago, November 20. _ Wheat futures: December, 1 dollar lu 7-B.cents per bushel; March. 1 dollar 203 cents; May, 1 dollar 23J cents. PRICES OF METALS. (Australian Press Association.) London, November 20. Copper: Standard, spot £6B 4s. 4|d. per ton, forward £6B 19s. 41<1.: electrolytic, £74 15s. and £75 55.; wire bars, £75 ss. Load, £2l 2s. Cd. and £2l 7s. 6d. Spelter, £24 13s. 9d. Tin, £230 3s. 9(1. and £225 Os. 3d. Silver: Standard, 202 d. oz., fine 28.7-8(1. OZ. -

EXCHANGE RATES. (British Official Wireless.) Rugby, November 20. Foreign rates of exchange on November 20, as compared with par rates, or as

theses:— . ■ North South DoIsland. Island. minion. Ecus In shell, doz 9.H3 24.189 33,302 (3,300) (183) (3.480) Esrer-pulp, lb. 554.100 290.989 845.149 (243,292) (85,370) (328,062) Frozen whites, lb. 442 1,260 1.702 (60) (000) (600) Ecg-yolk, lb. — (80) 1.200 (140) 1,20(1 (220)

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. d. 41 p.c. Ins. Stk., 193!) 99 . 1 0 — 44 p.c. ditto, 1938 ... 99 0 .—. 51- p.c. ditto, 1933 ... .—. 101 7 6 54 p.c. ditto, 1936 ...101 (1 0 ——• 5i p.c. ditto, 1932 ... 4} p.c. Bonds, 193S and — 99 10 0 1939 99 7 6 —-. 5} p.c. ditto, 1932 ... DEBENTURES— — 99 10 0 N.Z. Breweries (stock) .—. 1 1 Ditto (bonds) —— 1 0 Petone and Lower Hutt Gas. p.c., 1957 .. 99 10 0 —- BANKS— Australian Bank of Commerce 1 13 3 — Commercial of Aust. (ord.) 1 10 3 1 10 0 Commercial Banking Co. (Sydney) English, Scottish, and — 27 15 0 Australian - s 13 6 National of N.Z National of Australasia — 7 4 0 (£5) 9 11 9 13 0 New South Wales ... 51 15 0 New Zealand 3 1 6 3 1 9 Ditto, long-term mortg. 1 8 6 Union of Aust FINANCIAL— 15 G 0 — Equitable Bldg. Soc. N.Z. Guarantee Corp. 8 5 0 — (ord., 8s.) N.Z. Loan and Mercan- — 0 8 8 tile : 118 0 0 Weil Invest., T. & A. 0 10 8 —— Well. Trust and Loan GAS— 6 19 0 — Christchurch 1 6 0 Gisborne 0 9 6 INSURANCE— National - 0 17 0 MEAT PRESERVING— Gear ~ - o 3 9 N.Z. Refrigerat. (10s.) TRANSPORT— — 0 9 8 Huddart-Parker (ord.) WOOLLEN— o 7 10 — Wellington (ord.) ... 7 3 0 7 8 0 Ditto (pref.) COAL— 0 — Westport ..... 1 11 9 0 13 6 Pukemiro 3 9 0 TIMBER— National — 0 .10 1'4 6 Leyland-O’Brien .... BREWERIES— — - 1 G o 14 0 15 0 •> 1 6 ., 3 MISCELLANEOUS— Burns, Philp British Tobacco (Aust.) o 4 0 ■ - 4 6 (ord.) 4 0 — Electrolytic Zinc (ord.) 1 11 9 Ditto (preg.) Holden’s Motor Body 1 16 3 — • Builders 1 9 0. Wilson’s Cement .... 1 0 —. Gasco Bricks ’ 1 4 0 - - Aust. Iron and Steel - .. 1 1 0 MINING— Wai hi 0 15 3 Mount Lyell 1 19 0 Kawarau ■ ■ 0 . o 6

averaged first lialf of 1914, ire as follow: — Nov. 20. Nov. 15. Par. Paris, francs to £1 124.10 124.10 124.21 New York, dolJars to £1 .. 4.84 31-32 4.84 13-16 4.866 Montreal, dollars to £1 4.84} 4.85} 4.866 Brussels, belgas to £1 34.89 34.89 35 Geneva, francs to £1 25.19 25.20 25.22$ Amsterdam, florins to £1 12.08} 12.08 12.107 Milan, lire to £1 92.55 92.55 92.46 Berlin, reielismark to £1 .. 20.30 20.35 20.43 Stockholm, knr. to £1 18.14 18.14 18.159 Copenhagen, knr. to £1 18.19 18.19 18.159 Oslo, knr. to £1 18.19 18.19 18.159 Vienna, schillings to £1 34.52 34.505 34.58} Prague, knr. to £1 103} 163} 24.02 Helsingfors, marks to £ 1 192} 192} 193.23 Madrid, pesetas to £1 30.08 30.075 25.22$ Lisbon, escudos to £1 108 1-16 107} 4.50 Bucharest, lei to £1 805} 805} 25.221 Rio de Janeiro, pence to milreis 5 21-32 5 29-32 16 Buenos Aires, pence to peso . 47 15-32 47 15-32 47.62 Bombay, pence to 18 1-32 18.16 18 Shanghai, pence to tael 31} 31} Hong-Kong, pence to dollar .... 2-1} 24} Yokohama, pence to yen 22 31-32 23 1-32 24.58 Athens, drachma to £1 375 375 25.22}