Farm and Commercial Section

Dominion, Volume 22, Issue 54, 27 November 1928, Page 14

Farm and Commercial Section

LATEST REPORTS from ALL CENTRES

AUCTION SALES TO-DAY. 14 Brandon Street, 2.30 p.m.—Sale property, 17 Ludlam Crescent (H. E. Leighton). „ , , 8 Willeston Street, 10.30 a.m.—Sale furniture, etc. (E. Johnston and Co.). 108 Cuba Street, 1.30 p.m.—Sale furniture (Silverstone and Co.). TO-MORROW. 105 Customhouse Quay, 11 a.m. —Sale site, Wellington North (S. George Nathan). Dominion Farmers’ Institute, 7.30 p.m. Sale sections, Tawa Flat (Dunbar Sloane). „ , 195 Lambton Quay, 2.30 p.m.—Sale city properties (Harcourt and Co.). Woolshed Yards, Ohau, 1 p.m/—bale stock, account Skerman and Homan (Dalgety and Co.). Trucks Ltd. Garage, 10.30 a.m. —Sale car (E. Johnston and Co.). 104 Owen Street, 1.30 p.m.—Sale furniture (Silverstone and Co.).

THE PRODUCE MARKET • HIGH COMMISSIONER’S CABLED REPORT The Department of Agriculture has received the following cablegram, dated November 24, from the High Commissioner for New Zealand, London:— Tallow. No auction this week, owing to lack of fresh arrivals. Demand very quiet, and prices unchanged to slightly easier. Hemp. Manila market better tone, and more trade interest shown. Closing value for December-February shipments “J” grade, £35. Sisal: Market firm, with buyers at £39 for No. 1 in any position until April-June shipment, and No. 2, £3O 15s. New Zealand: Market unchanged. Small business doing, principally afloat, at high-points, £33 155., fair, £3O 10s., common, £29. Stocks in Great Britain on October 31, 51 tons against 8S tons same time last year. Tow quiet, and little offering. Values unchanged. Wool. Sales continue satisfactory, with brisk demand. Prices show hardening tendency, especially for merino. OTHER ADVICES. The Bank of New Zealand produce department has received the following advice from its London office as at close of business last week: — Butter. —Firm; 1745. to 182 s. per cwt. Cheese. —Quiet. White, 103 s. to 105 s. per cwt.; coloured, 102 s. to 104 s. Frozen Meat.—There is practically no demand for -wether mutton. The market for ewes is dull. The market for lambs is fairly well supplied; moderate business has been done. The market for beef is firm. Continued bad weather has hampered trade generally. Quotations: Wethers, light 6(1. to 7d. per lb., heavy sd. to 6d.; ewes, 4d. to 5d.; lambs, 2’s 9Jd. to IOJd., S's 9}d. to 10d., 4’s 9d. to 91d., seconds B}d. to B|d.; ox hinds, 4Jd. to 4|d. ;-ox fores, 3Jd. to 4d.; cow hinds, 4|d. to 4Jd.; cow fores, 3Jd. to 3Jd. WHOLESALE PRODUCE ■ PRICES Messrs. Laery and Co., Ltd., report wholesale values as follow:—Mixed fowl feed: Five-sack lots or over, Gs.; lesser lots, Bs. 3d. bushel. Linseed meal: Halfton lots or over, £l6; lesser quantities, 18s. 6d. per 1001 b. Linseed nuts: Halfton lots or over, 14s. per 1001 b.; lesser lots, 14s. Cd. per 1001 b.; freight paid Main Line stations on 30ewt. parcels meal or nuts. Oyster shellgrit: Five-sack lots or over, 55.; lesser lots, ss. 6d. per 1001 b. Plpt sliellgrit: Five-sack lots or over, ss. lesser lots, ss. Gd. per 1001 b. New Zealand wheat: 6s. lid. to 7s. Id. bushel; less than 10-sack lots, 2d. per bushel extra. Barley: ss. bushel. Oats: Machine dressed and clipped seed Algerians, ss. 2d. bushel; feed Duns, 4s. 2d., 4s. 9d.; machine dressed Duns, ss. 4d.; shelled oats, ss. lOd.; feed Gartons, 4s. Id. to 4s. 3d.; crushed, 4s. Od. Linseed: Whole, 225.; crushed, 275. cwt. Australian crushed maize: ss. lOd. and 6s. bushel. Gisborne maize: 6s. Od. bushel. Partridge peas: 7s. and 7s. 4d.; feed peas, 6s. 6d.; sacks in. Wheatmeal: Feed i ton lots, £l2 10s. per ton. Butter: Farmers’ prime separator and dairy bulk and pats, lOd. to Is. Turkeys: Is. 2d. to Is. 3d. per lb. Geese: 10s. to 12s. per pair. Ducks: Runners, young, os. to Ils.; large whites, Ils. to 13s. per pair. Fowls: White Leghorns, ss. Cd. to 6s. 6d.; Black Orpingtons and similar varieties, Bs. to 10s. per pair. ’ Eggs: First grade new-laid eggs, Is. 2d. to Is. 4d. Meat meal: Half-ton lots or over, £l2; smaller lots, 12s. Gd. cwt, Charcoal: 14s. Od. per 501 b. bag. Fungus: New Zealand, Bd. to lOd. Dressed pork: GO’S to 00’s, 6Jd. to 7}d. Suckling pigs: 7d. to Bd. Rock salt: Ton lots, £6: lesser quantities, 6s. 6d. Agricultural salt: Ton lots, £o; lesser quantities, ss. 6d. Mutton birds: New Zealand, in kits, Od. each. Blenheim chaff: Prime ton lots, £7 10s.; Walrarapa, £7 per ton: lesser lots, 10s. extra. Straw chaff: ss. Gd. sack. Chinese shelled peanuts: 2Jd. per lb., sacks in; Chinese, in shell, 4»d. per lb., sacks in. Slag: 17/20 per cent. 6 ton lots or over, £4 10s. per ton; 20/22 per cent. 6 ton lots or over, £5 f.o.r. Wellington. New Zealand walnuts: lid. lb. for sack lots; smaller quantities, Is. lb. Superphosphates: List price. Barley meal: £9 ton; J ton lots, os. 6d. Peameal: Half-ton lots or over, £10; lesser lots, 10s. Gd. Bran: Half-ton lots or over, £8 10s.; lesser lots, os. Pollard: Half-ton lots, £10; lesser lots, 10s. Cd. Black leaf 40: 21b. tins, 145.; 101 b. tins, 50s.' Gd. Canterbury potatoes: Dakotas, £l4 10s. per ton; Whites, £l3 10s. per ton. Canterbury seed potatoes: Gamekeeper, £7; Arran, £7; Majestic, £8 10s.; less than j ton lots, 10s. ton extra. Maizemeal: Bs. bushel. EGG-LAYING COMPETITION MASTEJITON CLUB. Dominion Special Service. Masterton, November 24. Following are the results of the egg,laylng competition being conducted nt Solway poultry farm by the Masterton Poultry Club for the thirty-fourth week ended to-day:— . Eggs Weight for of week. eggs. Tl. . oz. dr.

WELLINGTON STOCK EXCHANGE YESTERDAY’S BUSINESS AND PRICES A sale of South British Insurance shares at 645. 3d. reported at the afternoon call was the only transaction recorded yesterday. Government securities were slow. The 4J per cent, stock were in demand at £99 55., and the bonds at £99 7s. 6d. The 54 per cent, bonds were firm at £lOl ss. New Zealand Breweries stock and bonds were steady at 245. 9d. Bank shares were in fair demand, with buyers of Commercial Bunk of Australia at 30s. 3d., Commercial Bank of .Sydney at £27 55., English, Scottish, and Australian Bank at £8 9s. 6d., National Bank of New Zealand at £7 25., Bank of New Zealand at 61s. 6d., and Union Bank at £l5 7s. Sellers quoted £l4 15s. for Bank of Australasia, and £9 13s. for National Bank of Australia, £5 paid. Financial and insurance shares were quiet. There were bids of £8 ss. for Equitable Building. £6 19s. 6d. for Wellington Trust and Loan, and 10s. Bd. for Wellington Investment. South British Insurance were firm at 635. 9d. Christchurch Gas shares were steady at 265. 3d., and Wellington Gas, ordinary, at 295. 9d., and preference at 17s. 3d. There were buyers of Wellington Meat Export at 12s. 3d„ New Zealand Refrigerating, 20s. paid, at 19s. 6d.. Hud-dart-Parker at 475. lid., Kauri Timber at "19s. 6d., cum. dividend. New Zealand Breweries at 555., British Tobacco at 445. 3d., Burns, Philp and Co. at 445. Cd.. Wairarapa Farmers nt Ils. Gd., Gasco Bricks at 235. 9d., Wilson’s Cement at 41s. 4d.. cum. dividend, and Mount Lyell at 38s. Gd., cum. dividend.

SALES IN OTHER CENTRES (By Telegraph.—Press Association.) Auckland, November 26. Sales.—War Loan, 1939, 4) per cent., £99 7s. 6d. (two gales); Commercial Bank of Australia, 30s. 5d.; New Zealand Insurance?, 475.; South British Insurance, 61s. (two sales); Colonial Sugar, £59; Electrolyte Zinc, ord., 355. 3d.; Waihi, 14s. lid. Christchurch, November 26. Sales. —New Zertland Government, 4} per cent, inscribed. 1938, £99 10s.; Australian Bank of Commerce, 335. I)d.; Commercial Batik of Australia, 30s. fid.; New Zealand Insurance, 475.; New Zealand Hefrlgerating (10s. paid), Os. sd. (three parcels); New Zealand Breweries. 565. 6d. (three parcels); Beath and Co., 395. Sales Reported.—Coning rial Bank of Australia. 80s. fid. (two parcels) ; New Zealand Breweries, 565. 6d. (two parcels). Duneilln, November 20. Sales. —Broken Hill South. 51s. Sales Reported.—Commercial Bank, 30s. fid., three; Dnlgety and Co., £l5 45.; New Zealand Refrigerating, cont., 9s. 6d.; Crystal Ice, 255. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday amounted to £9099.

COMPANY ACTIVITIES UNITED INSURANCE A net profit o£ £07,403 is shown by the United Insurance Company, Ltd., in its balance-sheet for the year ended September 30, this being over £3OOO less than the net profit of the previous year, when the amount was £70,748. The gross revenue totalled £395,040, against £256,341, but the losses were substantially greater, being £162,914, against £127,572. Salaries and expenses aggregated £129,686, against £30,247, and Federal and Other Government taxes £35,038, against £27,772. To the net profit of £67,403 must be added £569 brought forward, making available £67,972, against £72,069. While the revenue has increased by £138,609, the expenditure under all heads has grown from £185,593 to £327,637, an increase of £142,044. Out of the year’s surplus £12,500 is added to the reserve fund, raising that fund to £212,500, £7OOO is added to the reinsurance reserve, making it £140,000, £2500 is added to the reserve for equalisation of dividends, making that fund £22,500, and the undivided balance of £972 is carried forward, after the payment of a dividend of 5 per cent, for the half-year, absorbing £22,500. The paid-un capital of the company is £450.000, the various reserves total £383,000 (the same as in the previous year), the contingent account is unchanged at £30,080, and sundry creditors, etc., £115.326, against £79,238. The assets total £1,023,878, against £968,137. The investments, which include mortgages on real estate and freehold premises, total £911,755, against £881,379. Interest accrued on investments is shown at £10,319, against £9899, bank and branch salaries £59,234, against £51,396, and sundry debtors £42,568, against £25,463. The directors in their report state that “it is of interest to note that during the ten years ending 1908, the taxation on the company’s operations (for those ten years) was £28,370, an average of £2537 per annum, while in the text years ended 1928 the total has been some £235.061, an average of £23,506 per annum.” WESTPORT COAL COMPANY The balance-sheet of the Westport Coal Co., Ltd., for the year ended September 30, shows a gross revenue of £71,065, against £73,304 in the previous year, and there was brought forward £13,749, making £84,814, against £86,720. The expenses of management, law charges, rates and taxes, and other outgoings, totalled £32,976, against £38,349; the contribution to the accident fund under the Coal Mines Act, was £Bl4, against £871; and the interifn dividend of Is. per share absorbed £22,500. Out of the balance, £lOOO has been added to the staff provident fund, and a further dividend of 9d. per share for the second half of the year, absorbs £16,875, leaving £11,649 to be carried forward. The dividend for the year of Is. 9d. per share is 3d. better than in the previous year. Besides the dividend, the shareholders receive Cd. per share from the insurance account. The distribution to shareholders is thus 11J per cent, on paid-up capital, against 10 per cent, last year. The paidup capital stands at £450,000, sundry liabilities total £225,014 against £242,293, and insurance fund £148,053, against £138,579. The assets total £851,591, against £855,872, and include property £283,756, ' against £297,706, sundry debtors £91,791, against £96,326, bills receivable £2556 against £3132 loans to workers £2803, against £3632, loans and investments £300,791, against £298,727, sinking fund £133.750, against £128,750, and cash £36,143, against £275,598. LEYLAND O’BRIEN TIMBER The condition of the timber industry Is still one of depression and this is reflected in the company balance-sheets. For the twelve months ended September 30 the Leyland O'Brien Timber Company, Ltd., earned gross profits of £36,273, ag compared with £43,078 in the previous year. The expenditure for the year amounted to £25,172, as against £30,383, a decrease of £5211, the greatest saving being made in trade expenses, wages, salaries, etc., which for the year totalled £22.087, against £27,130. The net profit for the year was £ll,101, against £12,693. There was brought forward from the previous year £61,185, making available £72,286. The dividend, which is the same as was paid last year. Is. Bd. per share, absorbs £lO.OOO, and after allowing £6OO for directors’ honoraria, the balance of £61,686 is carried forward. There is no allocation to the reserve fund, which was the case last year also. The capital of the company is unchanged nt £120,000. The reserve fund, which includes reserve for income tax, stands at £26.042, against £30,172, sundry creditors £2027, against £2830, and. contractors’ suspense account £3917, whiehjs Unchanged. The assets total £219.273, against £223,712, and include sundry debtors £18,676. against £20,437: mortgages, £142,218, against £151.181; building, machinery, and plant, £7620, against £8564; stock, £7486. against £7050; shares in other companies, £2238. against £2275; freehold property, bushes, and logs, £27.391, against £17,834; war loan, £9921, against £10,124; vessel, £950, against £3088; and cash, £2738, against £3158. NATIONAL INSURANCE COMPANY Dominion Special Service. Dunedin, November 24. “The company has come through a very trying year with results that should be regarded by shareholders as not unsatisfactory,” said Mr. John Moloney at the annual meeting of the National Insurance Company. “Although an increase of £19,584 in the premium income of £248,8(18 disappears in the losses of £135,875, which are greater by £19,872 than in the previous year, the outcome of the past year’s operations is better with regard to losses.” It may interest but not please shareholders to learn that the New Zealand Government" will not collect any income tax on the company’s fire underwriting business, as no profit was made in the Dominion this year. The amount at the credit of the profit and loss account (£82,130), including the sum brought forward from the previous year, enabled the directors to recommend the payment of £37,500 in dividends, to transfer £18,201 to the several reserve funds, and to carry forward £36,429, which was almost equal to the sum required to pay the present annual dividend to equalise as nearly as possible the distribution of the half-yearly dividends 4d. per share was paid in May last, and a dividend of sd. per share was now recommended, making the total distribution for the year the same amount as last year. It was intimated at the last annual meeting of shareholders that the strength of the company’s finances would allow a reduction to be made in the uncalled share liability, and now the directors recommended the transfer of £250,000 from the reserve fund to the capital account, and if this were agreed to the paid-up capital of the company would then be £350,000, while £285,000 would be left in the reserve fund.” The report and balance-sheet were adopted, and the retiring directors, Messrs. F. W. Mitchell and Thomas Glendining, were re-elected. E.S. AND A. BANK A record profit of £598,769 is shown by the English, Scottish and Australian Bank for the twelve months ended June 30. This contrasts with £550,958 in 1927 and £542.308 in 1926. The usual 12| per cent, dividend takes £375,000 of the year’s profit, as compared with £295,312 in the previous year; £70,751 is transferred to reserve fund, £lO,OOO to officers’ provident fund, and £59,500 is set aside for the purpose of cancellation of the last of the deferred inscribed deposit stock, leaving £33,518 balance of profit to raise the carry forward to £311,478. The 12J per cent, dividend absorbs 63.6 per cent, of the net profit, after deducting the allowance of £lO,OOO to the officers’ provident fund, but including the allocation for the cancellation >f deferred inscribed deposit stock. This stock will now be extinguished and subsequent profits will be available in full for dividend distribution and the reserve and other allocations. After allowing for the allocation to officers’ provident fund, the profit shown equals 19.9 per cent, on average capital ranking for dividend during the year, compared with 23.1 per cent, last year. The total visible reserve is now £3,357,229, which includes £375,000 premium on new shares. The paid-up capital of the baiA ia pow. ,

KAWARAU MINING In their report for the half-year ended September 3U, the directors of the Kawarau Gold Mining Company, Ltd., state that ‘‘it is now definitely known that the amalgamation scheme as originally propounded eannot be carried through, as a considerable proportion of the claimholders are unflnancial, and others are unwilling to contribute further funds under any scheme ■whatsoever. It has been decided, therefore, to take Immediate steps to notify all claimholders In arrear with the payment of calls that unless payment is made within fourteen days the company will have resort to the remedies provided for in the agreement. This will mean that those claimholders who do not wish to lose their claims will have to pay their arrears immediately, and the claims of those who do not pay will be liable to forfeiture.” Since this decision was arrived at, a meeting of claimholders was held in Dunedin, on October 30, and as a result, definite proposals for the amalgamation of financial claimholders with the parent company were submitted the following day for consideration by the directors. The proposals briefly are that a new company be formed to take over all the assets and liabilities up to £4OOO. The parent company Is to take In fully-paid shares one-eighth of the nominal value of all the shares issued to claimholders in exchange for their claims. The new company is to purchase claims up to £B7O and issue £lOOO worth of shares paid up to £B7O. The promoters of the new company require until March 31 next to form the concern. The shareholders of the Kawarau Company will meet on Friday afternoon and the whole question of amalgamation will be open for discussion then. The object of the new company will be primarily to obtain the report of an expert engineer on the possibilities of mining in the Kawarau Klver. The accounts show that the revenue received during the year amounted to £204, of which £263 was received in Interest from the Public Trustee on the £lO,OOO deposit held by the Public Trust Office. The expenditure for the year was only £l5B, and the accumulated deficit was reduced from £4512 to £4407. CANADIAN WHEAT POOLS Since their formation in 1924 the Canadian wheat pools have marketed 750,000,000 bushels, valued at £220,000,000, with accumulated reserves of £20,000,000. In the middle of last month cheques for over £5,000,000 were dispatched to pool members of the Prairie Provinces, making full payments for last year’s crop. The payment brings the first chapter of pool history to a conclusion. The new contract is now beginning on a five-year basis. The Canadian wheat harvest is estimated at 556,000,000 bushels, the largest in the history of the country. For the first three months of the present crop year the grain receipts at the head of the Great Lakes have been more than three times as great as last year, while shipments from Vancouver are nearly eight times as large. Shipments from the Great Lakes are over five times as large. Canada is in a very prosperous state due to her agricultural wealth. The wheat trade is faced with the prospect of such a superabundance of supplies for the current cereal year as has probably never been experienced before. But the prospect for maize, which ranks second only to wheat among the cereals imported into Europe, is quite different. In shipments the quantity of maize during the cereal year ended July 31 last, equalled only 40 per cent, of the wheat, for the bulk of the maize grown in the world —91 i per cent, in fact—was consumed in the country of origin. Another peculiarity of maize is that considerably more than half of the world's production is grown in one country—the United States. In 1927, for example, out of an estimated total of 470,000,000qrs., the United States contributed 325,000,000 —that is, 69 per cent. European imports of maize have risen enormously of late years. The shipments from exporting countries to Europe in the 1924-25 season were 22,900,000qr5., but in 1926-27 they exceeded 39,600,000 qrs., and in the season which ended last July they were 39,400,000qr5. WOOL AND ARTIFICIAL SILK In view of the competition of artificial silk with wool, interest attaches to a statement recently made at Leicester by Dr. S. G. Barker, director of research for the British woollen and worsted industries. He disclosed that experiments were being made with wool, which, it was hoped, would end in the production of a fabric to compare in lightness and lustre with any other material,, and so would win back for wool its place in the favour of women. Dr. Barker insisted that wool was the only rational clothing. He said that animals of the field were not clothed in wood pulp. They were provided with an outer covering of a protective character. It was capable of withstanding all climatic and atmospheric conditions, and capable also of giving the maximum health-giving properties to the animal itself. All through the ages attempts had been made to utilise fibres of vegetable origin to supplant wool, and throughout wool had held its own. Dr. Barker stated that wool as produced on the farms in the Dominions was not grown with special care to meet the wants and requirements of the manufacturer. The raw material went forward to the industry under a general heading of wool —good, bad, indifferent, suitable or unsuitable, regardless of the finished product. To his mind the grower and the manufacturer should be linked together with a close and firm scientific link of fleece and fibre analysis. In his laboratory experimenting was going on' with the object of developing a method for the production of lighter clothing. Experimenting work was also being carried on with the object of making wool unshrinkable. Investigations in this direction had reached such a stage that it was hoped they would be successful in the near future. FOREIGN ITEMS (Australian Press Association.) London, November 24. Apart from an Indian inquiry, Australian wheat cargoes are quiet and mostly 3d. to 6d. per quarter down. Cargo by an unnamed steamer (December) from Calcutta is quoted at 465.: Catherine Radcliff, from Karachi, at 465. Parcels are in poor request at 3d. to 6d. down. Ex Ulysses is quoted at 48s. Liverpool future: December, 9s. 3-Bd. per cent; March, 9s. 4d.; May, 9s. 4 3-Bd. RECORD DAY ON NEW YORK STOCK EXCHANGE. (Australian Press Association.) New York, November 24. The New York Stock Exchange broke all records to-day for the volume of business with a sale of 6,942,500 shares. Prices skyrocketed and later slumped, closing irregularly. The tickers were delayed, although they were not so late as usual. The governors of the Exchange have declared a holiday to-morrow to enable the clocks to catch up on the work. A seat on the Exchange was sold to-day for 550,000 dollars.

SINGLES. E. ,T. Wing, W.L., No. 1 .. 4 7 12 188 E. W. looby, W.L 7 15 0 177 Opaki Stud Farm, W.L. . T. and J. Taylor, W.L. . 5 11 13 163 0 12 5 147 G. E. Moody, W.L 5 11 2 139 E. J. Wing. W.L'., No. 2 .. 4 7 12 128 L. A. Wadham, B.O 1 2 4 12B A. Cook. W.L 5 10 10 125 Rayner Bros., B.O., No. 1 . 5 9 13 121 E. A. Tozer, B.O — — 117 H. C. West, W.L 5 10 13 100 Rayner Bros., B.O., No. 2 W. Spence, W.L D 11 8 98 1 2 2 90 Rayner Bros., W.L 4 8 12 91 B. Pimm, B.O 2 3 14 79 H. J. Pryor, R.I.R 6 12 6 C4 05 1904 TEAMS. F. Taylor, W.L., No. 1 ... 6 12 0 188 G 11 14 171 ” No. 3 6 13 2 160 519 Dr. Tweed, W.L., No. 1 .. 0 13 8 168 „ No. 2 5 10 0 168 „ No. 3 6 13 0 179 515 W. Spence, W.L., No. 1 .. 5 11 6 175 No. 2 159 ” No. 3 3 6 6 149 483 E. W. Toohy, W.L., No. 1 B 11 2 181 „ No. 2 5 8 13 148 „ No. 3 D 9 11 145 474 P. Freeman, W.L., No. 1 .. 3 6 14 158 t No. 2 G 13 7 170 „ No. 3 6 11 10 144 472

Geo. Webb, W.L., No. 1 .. o 4 0 96 „ No. 2 {J 11 14 176 187 459 „ No. 3 . . 4 7 13 C. H. Robbins, W.L., No. 1 fi 13 0 109 „ No. r : —B —— —— 145 „ No. 3 K. K. McDonell, W.L.— 6 11 4 190 444 No. 1 *> 4 0 158 No. 2 5 11 4 132 No. 3 7 14 12 153 443 J. Bradbury, W.L., No. 1 5 10 14 125 „ No. 2 5 11 2 153 „ No. 3 Opakl Stud Farm, W.L.,— « 12 0 159 437 No. 1 6 13 3 182 No. 2 , 1 9 13 130 No. 3 J. D. Rowlands, R.I.R., 5 11 0 123 435 No. 1 5 9 8 140 „ No. 2 5 9 8 1(50 „ No. 3 122 422 Geo. Waring. W.L., No. 1 5 11 7 113 „ N'o. 2 4 8 10 13S „ No. 3 5 9 8 166 417 A. A. Hoare, W.L., No. 1 7 14 2 131 „ No. 2 10 8 159 „ No. 3 G 11 12 125 415 Geo. Masters, W.L., No. 1 5 10 4 161 No. 2 1 2 0 116 „ No. 3 ...... 6 14 6 135 412 H. C. West, W.L., No. 1 6 12 15 151 „ No. 2 6 1 *2 2 „ No. 3 5 10 12 122 393 A. A. Hoare, R.I.R., No. 1 6 11 14 130 „ No. 2 B 12 11 112 „ No. 3 6 13 9 89 331 C. E. Brock, W.L., No. 1 3 7 fl 85 ,, No. 2 u 11 2 94 „ No. 3 Rev. Blathwayt, B.O., B 12 7 150 329 No. 1 2 4 *> 61 „ No. 2 3 ,) 15 63 „ No. 3 3 255 5 5 77 201 7606

Yesterday’s buying and selling quotations were as under:Buyers. Sellers, N.Z. GOVT. LOANS— £ 6. d. £ s. d. 4} p.c. Ins. Stk., 1939 99 Fj 0 4l p.c. ditto, 1938 .... 99 0 nJ p.c. ditto, 1939 ....: 101 2 6 — 5} p.c. ditto, 1932 ... — 99 5 0 4j p.c. Bonds, 1938 and 1939 99 ■ 7 6 —— 54 p.c. ditto. 1939 .... DEBENTURES— 101 5 0 — N.Z. Breweries (inner. stock and bonds) .. BANKS— 1 4 9 — Australasia 14 15 0 Commercial of Aust. (ord.) 1 10 3 1 10 6 Commercial Banking Co. (Sydney) English, Scottish, and 27 5 0 — Australian 8 0 0 8 11 0 National of N.Z National of Australasia 7 2 0 7 5 0 (£5) —— ■ 9 13, 0 New South Wales .. —— 52 0 0 New Zealand 3 1 6 3 1 10 Ditto, long-term mortg. — 1 8 6 Union of Aust FINANCIAL15 7 0 — Equitable Bldg. Soc. N.Z. Guarantee Corp. 8 5 0 V (ord., 8s.) — 0 8 8 Well Invest., T. & A. 0 10 8 — Well. Trust and Loan GAS— 6 19 « — Christchurch 1 6 3 1 0 9 Wellington (ord.) ... 1 9 9 — Ditto (pref.) INSURANCE— 0 17 3 — - 0 16 8 New Zealand —. 2 7 3 South British 3 3 9 —— - 3 5 0 MEAT PRESERVING— 2 4 0 N.Z. Refrlgerat. (£1) 0 19 8 Well. Meat Exp. (ord.) TRANSPORT— 0 12 3 — Huddart-Parker (ord.) WOOLLEN— 2 7 11 2 8 5 Kaiapol (pref.) .... —. 0 16 0 Wellington (ord.) ... COAL— — 7 7 0 - 1 11 0 Waipa - - 0 13 3 . 3 8 6 TIMBER— Kauri 0 19 C —— Leyland-O’Brien .... 1 14 6 National BREWERIES— — 0 10 6 New Zealand 2 15 0 2 19 9 Staples and Co MISCELLANEOUS— — 2 1 9 2 4 6 -- - - British Tobacco (Aust.), 2 4 3 ■ Electrolytic Zine (pref.) 1 17 0 N.Z. Sugar of Milk .. Wairarapa Farmers’ — 1 11 0 0 11 6 - — Wilson's Cement .... o 1 4 Gasco Bricks MINING— i 3 9 — Mount Lyell i 18 G —