FINANCE AND COMMERCE.

Dominion, Volume 23, Issue 33, 2 November 1929, Page 14

FINANCE AND COMMERCE.

STOCKS AND SHARES

WELLINGTON EXCHANGE A DULL MARKET The share market continues quiet, with few buyers In .evidence. ' Business was restricted yesterday-to Bank of New Zealand and Commercial Banking Company of Sydney, and all the sales were made in the afternoon. The sales of Bank of New Zealand showed an upward tendency. Commercial Banking ' Company at £23 10s. show a drop of 55., compared with a sale made in Christchurch on Thursday. A previous sale, : which was recorded at Christchurch on October 23, was at £24 ss. Australian Bank of Commerce, which were in demand one day last week at 31s. 3d., are now wanted at. 295. 9d., and sellers have reduced their bids 3d. to 31s. National Bank of Australasia £5 were sold some days ago at £9 Is. cum. dividend, but the best bld for them now Is £8 15s. cum. dividend, and sellers are prepared to accept £9. A. dividend of 5 per cent, is payable towards the end of the month.' Bank of New South Wales were wanted at £47 6s„ while on Tuesday last buyers were offering £47 15s. There is no change in the selling quotations for other bank shares. Goldsbrough Mort and Co. were in demand at 425. 6d- but there were no declared sellers. Building and mortgage shares are still very quiet. Yesterday the Wellington Deposit and Mortgage Company paid an interim dividend of 3 per cent, for the past half-year. Gas, Insurance, and Others. Gas shares were practically unchanged with a moderate demand. South British Insurance at 645. 6d. show a decline of 3d. on the bid made last Saturday. Other insurance shares were not in demand. Canterbury Frozen Meat ordinary were steady at £8: Gear Meat shares were on offer at 445. 3d., or only 3d. more than was paid for the shares in Auckland on Thursday. Shipping, woollen, and brewery shares were not in demand, but sellers were numerous. British Tobacco were in demand at £2 3s. 10d., which is much lower than the price paid previously, but the shares are now ex dividend. Not so very long ago the best bid for Dental and Medical Supply was Bs., and yesterday the bidding advanced to 10s., wllh no sellers. Sellers of Howard Smith ordinary reduced tbeir quotation Is. 3d. to 225. Gd. Other shares were quiet and unchanged. YESTERDAY’S QUOTATIONS Buying and selling quotations at the final call on the Wellington Stock Exchange yesterday were as follow:— '

PRICE VARIATIONS Movements based On yesterday’s buying prices, compared with previous bids, were as under:— Rise. s. d. Commercial Bank of Australia .... 0 fi N.Z. Guarantee Corporation 0 2 Dental and Medical 2 0 Mount Lyell 0 6 Fall. Australian Bank of Commerce 1 6 Bank of New South Wales 9 0 Goldsbrough Mort and Co 1 0 Auckland Gas 0 2 South British Insurance 0 3 DIVIDEND LIST Company. Per cont. Period. Payable Aiiafrnlin Trnn anrl

GOVERNMENT STOCKS London. October 31. The following table gives quotations for Government securities—consols and colonial Inscribed stocks—compared with

DEALINGS ON ’CHANGE YESTERDAY’S BUSINESS . DOMINION SALES The following sales were recorded on the Stock Exchanges of the Dominion

BRUCE WOOLLEN COMPANY DECLINE IN PROFITS A decline of £2200 in profits is shown by the Bruce Woollen Manufacturing Company, Ltd., for the year ended September 19 last as compared with the previous year, the figures being £5077 against £7279; the net profit is arrived at before writing off £2500 for depreciation. In the previous year the amount written off was £5994. The amount available for appropriation including the amount brought forward amounts to £2836, as compared with £1324 in the preceding year. Out of the available balance the dividend and interest on the preference shares and calls paid in advance, absorb £2533; leaving £303 to be carried forward. There is no dividend payable on the ordinary share capital of £lOO,OOO. The principal items in the balance sheet compare with those for the

The advances on workers’ homes account for £3774 against £4600. The total, of the assets is £266,036 against £240,615. The increase in the capital is due to calls on prefrence shares coming in. Deposits accepted by the company show an increase of nearly £2OOO, and the bank overdraft has expanded by £6421. In their report the directors say that the past year has been a most ■ difficult one from ‘a profit-making point of view, owing to the falling prices in raw wool and to the fact that the expendiutre on the new worsted plant installed during the year has not yet produced any return. The change in the sales policy of the company has been justified, as sales have been fully maintained. The whole of the preference issue of shares has been subscribed.” BUILDING SOCIETY’S SUCCESS ■ Auckland, November 1. •‘I have to congratulate members on the very excellent progress which the society has made during the past year,” said Mr. J. A. Warnock, chairman of directors, who presided at the annual meeting of the Northern Co-operative Terminating Building Society. The institution, he said, was on a very sound financial basis as was shown by the fact that the income for the year, £121,406, was an increase of £12,616 over the previous year. Advances made and authorised during the year were £94,655, and at the close of the sixth year of the society’s operations the total mortgages had reached over the half-million mark, £513,713, a remarkable achievement, the chairman said, for so short a period. The report was adopted. DOMINION PICTURE THEATRES MOST SUCCESSFUL YEAR Dominion Special Service, Auckland, November 1. The sixteenth annual meeting of the Dominion Picture Theatres Company Ltd. was held in Auckland to-day, the chairman of directors, Mr. C. It. Chapman, presiding. The annual report, which recommended payment of a further dividend of fid. per share on both preference and ordinary shares making 71 per cent, for the year, and the balance-sheet were adopted. The chairman said that, with an increase in revenue and the payment of lower interest. the past year had been the most successful the company had had. The whole of the company’s building had been let. and it was proving a sound business proposition. FOREIGN EXCHANGES (British Official Wireless.) Ilugby, October 31. The following rates on foreign exchanges are current to-day, compared with the cabled quotations on October 29 and

THE MONEY MARKET BANK OF ENGLAND RETURN FALL IN MARKET RATES Tsondon, October 31. The Bank of England return for the week ended October 30 is as follows t ISSUE DEPARTMENT. Notes issued: £ In circu- Govt, debt 11,015,100 lotion 358,819,845 Other Govt. In banking securities 235,361,-ol dept. 32,197,196 Other secuP ritios 9,790,875 Silver coin 4,832,774 •£260,000,000 Gold coin - and bullion 131,017,041 £391,017,041 £391,017,041 •Amount of fiduciary issue. BANKING ’DEPARTMENT. £ £ Capital 14.553,000 Govt, seeuRest 3,126,732 ritles G 5,851,855 •Public de- Other posits 14.383,959 securities: Other deposits: Discounts Bankers 58,105,976 and adOther ac- vances ••.000.568 counts 38,125,120 Securities 20.-32,291 Seven-day, Notes 32,19<,1J6 etc., bills 2,205 Gold and silver coin 1,124,<82 £128,2964)92 £128,296,992 ’•lncluding Exchequer. Savings Banks Commissioners of National Debt, and dividend accounts. - Proportion of reserve to liabilities 30.10 per cent., compared with 31.80 per cent, on October 23, 28.05 per cent, on October 16. and 42.60 per cent, on October 31, 1928. The principal items of the above return compare as follows w-ith those for the week ended October 23: — Oct. 23. Oct. 30. Rest £3,144,433 £3,126,732 Government .. £15,788,487, £14,383,959 Bankers 59,111,334 58,105,976 Other accounts 37,136,656 38,125,120 £112,036,477 £110,615,055 Securities— B — Government .. 69,461,85 u 68,801,805 Advances and ■ discounts .... 4,199,821 5,890,868 Other securities 20,440,776 20,232,291 •Reserve 35,634,291 33,321,978 Note circulation .. 357,386,753 358,819,845 fCoin and bullion 133,021,044 132,141,823 •Reserve on October 31, 1928, was £60,168,472. ■ tOctober 31, 1928, £164,920,677; 1929, maximum, June 12, £164,211,400; minimum, October 2, £130,343,588. SHORT LOANS AND BILLS. The Bank of England rate of discount has been reduced to 6 per cent, from 64 per cent, to which it was raised on September 26 from 5* per cent. Short loans are quoted at 5 per cent., as against 5i per cent, on October 23. The market rate for best three months’ bills is now 5j per cent., as against 6 1-32 per cent, last week. [Messages dealing with the fall in the Bank rate appear on the cable page.] GRAIN AND PRODUCE CANTERBURY “LIFELESS” By Telegraph.—Press Association. Christchurch, November 1. The grain and produce market is lifeless. Potatoes kept interest at from blood to fever heat for the latter half of the season, but at the moment it would appear as if they had gone beyond recall. Values have slipped since the midweek, prompt f.o.b.s.i. rates being £6 and offers to farmers £4 10s. on trucks. The wheat market remains dult “Pool” prices are 6s. sd. f.o.b.s.i. Fowl wheat is worth ss. Hid. f.o.b. Oats are unchanged with little inquiry. Chaff, no doubt on account of the lateness of the season in the North as well as the South Island, is In permanent request, and numerous sales have been, made at £7 a ton f.0.b.5.i.; or £5 to £5 ss. on trucks. All classes of seeds are held firmly. The weather conditions are assisting in this tendency. It is inevitable with the shortage of feed that fewer paddoeks will be closed up for seed, and the crop in sight for next season is practically certain to be affected, particularly in the case of Akaroa cocksfoot where under ordinary conditions the paddocks would be closed up a month ago. OTAGO MARKETS Dunedin, October 31. Business in milling wheat is of small dimensions. There arc no offerings from growers to test the market, and on the other hand millers are not showing any interest in laying in additional stocks. An odd line or two of Pool wheat is being placed, the current values being unchanged at ss. fid., sacks extra, on trucks, country sidings, for Tuscan; 6s. for Hunters; and up to 6s. 6d. for Velvet. Supplies of fowl wheat are getting into short compass, and the only lines now available are from the stocks of poor milling quality held by the pool. These have been sold in small lots at up to 6s. Bd. per bushel, sacks extra, ex store. Merchants here are working from hand to mouth and the same position applies in the, North Island, where supplies of fowl wheat are being drawn from Canterbury at ss. lid. to 6s. f.0.b., sacks extra. • Stocks of oats are in short supply, and it now appears that there is not. a great quantity held in any part of the South Island. Tlie dry weather is causing a number of farmers tq buy feed oats, and this demand on top of tlie occasional lots going to the North Island is depleting the supplies held in tlie stores. Values remain firm, and 3s. Bd. to 3s. fid., f.0.b., 5.1., is being asked for A’s, and 3s. 7d. for B’s. There are few offerings of oats from growers. The above prices, however, are equivalent to 3s. 2d., sacks extra, on trucks, country sidings, for A’s and 3s. for B’s. Although no business is taking place in forward selling, there is an Inclination on the part of operators to advance their quotations. Consequent on the dry weather conditions, from 3s. 7d. to 3s. 7*d. is now being asked for oats to be delivered from April to September ’ next year. Chaff Market Firmer. The market, for chaff has firmed in all the supplying centres, and it is now difficult to get quotations for railing to Dunedin. The quantity held in the local stores is on the small side, but, on the other hand, the demand is also limited. The current quotation has been advanced to £6 10s. per ton, ex store, while for lines ex truck prices may be given as £6 to £6 ss. The market for old potatoes is dragging, and there is still a downward tendency. Merchants are now prepared to accept any reasonable offer. Tlie nominal quotation to-day can be given as £7 to £7 10s. per ton, sacks included. Business in tile seed market continues, quiet, and merchants are disappointed at tlie position for this time of tlie year. Here again, the weather conditions arc affecting the position. In the meantime there are no alterations in values. Stocks in most lines are not heavy, with the exception of crested dogstail. Fruit and Vegetables. Apples are in short supply, and any sound lines meet a ready sale. Canadian Jonathans should reach the market some time next week. Tlie market is well supplied with Californian-grapes. 1 Oranges are in short supply, and high prices are ruling. A few cases of islandgrown reached the market during Hie week, and although they were not in the best of condition they realised sound prices. The Manuka from Melbourne and tlie Karetu from Sydney are bringing only small shipments of citrus fruit, as prices are still ruling high in Australia. Lemons are in short supply. Bananas are’off tlie market for the time being. A shipments of Fijians is expected next week ex tlie Wingatui from Affsekland. The market is well supplied with Island tomatoes. A quantity of these tomatoes was in poor condition, and had to lie sold at low prices, which have reacted on local hot-house-grown, which are now arriving more freely. A few lots of gooseberries are coming in. They are on tlie small side, but they arc bringing good prices. New potatoes nre arriving from the. Peninsula district, and a few showers of rain would increase the supplies considerably.

ENGLISH MARKETS FROZEN MEAT PRICES LAMB ‘VERY WEAK” Except for pork, the Smithfield meat market is weak with a limited demand. This is the substance of a cabled report dated October 31, received by Dalgety and Co., Ltd., from their bead office, London, as follows: — Lamb. —New Zealand prime Canterbury lamb, 281 b. to 361 b., SJd.; prime North Island lamb, 281 b. to 361 b., 7Jd.; prime Canterbury lamb, 361 b. to 421 b., 7 7-Bd.; prime North Island lamb, 361 b. to 421 b., 7]d.; prime Canterbury lamb, second quality, 7jd.; prime North Island lamb, second quality, 7d.; prime Canterbury lamb, 421 b. to 501 b„ 7]d. Market very weak; demand poor. Mutton. —New Zealand prime Canterbury mutton, 48lb. to 561 b., 6 5-Bd.; prime North Island mutton, 481 b. to 561 b., 6 1.-Sd.; prime Canterbury mutton, 561 b. to 641 b., 6 l-Bd.; prime North Island mutton, 561 b. to 641 b., 6d.; prime Canterbury ewes, 481 b. to Gljb., 4 3-Bd.; prime North Island ewes, 481 b. to Glib., 4Jd. Market weak; demand limited. Australian Lamb.—G.A.Q. Australian lamb. 281 b. to 361 b., 8 3-Bd.; G.A.Q. Australian lamb, 361 b. to 421 b., 7.7-Bd.; F.A.Q., 2Slb. to 361 b., 7}d. Market very dull; demand limited. Australian Mutton. —G.A.Q., Australian mutton, 401 b. to 601 b., 4jd.; F.A.Q., Australian mutton, 301 b. to 551 - 44d.; Australian ewes, 4d. Market dull; demand moderate. Beef. —Argentine chilled hinds, 6}d.; Argentine chilled fores, 4Jd. Pork.—English porkers. 801 b. to 1001 b., 12d.; New Zealand porkers, 801 b. to 1001 b., lOd.; New Zealand porkers, 1001 b. to 1201 b., 9»d. Market firm; demand has been checked by Increased prices asked. In a cable message received by M. A. Eliott Ltd., Palmerston North, from their London agents, Smithfield delivered prices for the week arc summed up as follows: — Prime lamb, l-Bd. lower, second lamb no change: light-weight wethers l-Bd. lower, heavy 3-8(1. lower; ewes, l-Bd. to id. lower; beef. l-Bd. higher. Quotations are: Best North Island prime lambs, under 361 b. B}d--361b. to 421 b. 7 7-Bd., 421 b. to 501 b. 7 3-Bd.; ordinary North Island lambs, under 421 b. 7}d., second quality under 421 b. 7}d.; best North Island wethers and/or maiden ewes, 481 b. to 561 b. and 561 b. to 641 b. 6 3-Sd--641b. to 721 b. and over 721 b. 5Jd.: ordinary North Island wethers and/or maiden ewes, 181 b. to 561 b. and 561 b. to 641 b. 6}d- 641 b. to 721 b. and over 721 b. 5 3-Bd.; North Island ewes, under 641 b. 4|d- 641 b. to 721 b. and over 721 b. 4 1-Sd.; Now Zealand prime ox beef (equal fores and hinds), 1601 b. to 2201 b., 4}d. DAIRY PRODUCE BUTTER DECLINING London, October 31. Butter. —The market Is quiet. •Danish, 1925.; choicest salted, New Zealand, 178 s. to 180 s.; Australian, 1765. to 1785.; unsalteds, New Zealand, 188 s.; Australian, 184 s. to 186 s. • Cheese.—The market is quiet. New Zealand, 935. to 945. Dalgety and Company Limited have received the following market advice from their head office, London, under date October 31: —-Messrs. Samuel Page and Son report: Butter. —The market Is quiet, with a downward tendency. Danish, 1945. to 1965. (190 s. to 200 s.); New Zealand, finest salted, 1765. to 180 s. (1775. to 182 s.); Australian, finest unsalted, 184 s. to 186 s. (186 s. to 190 s.); Australian, finest salted, 1745. to 178 s. (1755. to 1785.) ; Australian G.A.Q., 170 s. to 1725. (170 s. to 1745.). Cheese.—The market is easier. New Zealand, white 935. to 945. (935. to 945.), coloured 925. to 935. (925. to 935.); spot price for Canadian, white 945. to 965. (94s to 965), coloured 945. to 965. (945. to 965.); c.i.f. price for Canadian, 925. to 965. (935. to 955.). (Last week’s quotations shown in parentheses.) Mr. G. A. Mills has received the following cabled advice from his principals, Messrs. A. J. Mills and Co., Ltd., London, under date October 31:— Butter. —The market is slow. Finest New Zealand, 178 s. to 180 s.; first New Zealand, 1765. to 1775.; Danish, 1925. to 1945.; Australian, 1765. to 1785.: Irish, 1745. Cheese.—This market is steady. New Zealand, white'93s. to 945., coloured 935.; Canadian, white 90s. to 975., coloured 955. to fids. Messrs. Joseph Nathan and Company Ltd., have received the following cablegram from Messrs. Trengrouse and Nathan, Ltd., London, dated October 31:— New Zealand, Butter.—Finest grade 1785., first grade 1755.; market quiet and declining. 1 New Zealand Cheese.—White 945., coloured 935.; market slow. BRADFORD TOPS MUCH BETTER TONE Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., report having received the following cabled advice from their London bouse in regard to the Bradford market:— Merinos, Id. to IJd. advance; fine arid medium crossbreds, id. advance; coarse crossbreds hardening. A fair amount of business passing in merinos; a little business passing in crossbreds; a much better tone prevails. WHEAT AND'PRODUCE By Telegraph.—Press Association. (Rec. November 1, 7.40 p.m.) London, October 31. Wheat.—Cargoes were firm, quotations being fid. to Is. dearer owing to tlie decline in the bank rate. A forecast of smaller Plate shipments led to some expansion of business. Parcels held 9d. to Is. 3d. advance but trading was confined to La Platas. Futures: London, October, 48s. Ud. per quarter; November, 48s. 9d.; December, 495. 3d.; January, 19s. lid. Liverpool, December. 9s. 1 7-Bd. per cental; March. 9s. 8 7-Bd.; May, 9s. 11 7-Bd. The spot trade is dull. Australian, ex ship, 455. per quarter. Flour.—The market is easier. Australian ex store, 355. to 355. fid. Oats.—The market is quietly steady. Peas and Beans.—The market Is quiet. Beet Sugar.—December, Bs. sd. TALLOW VALUES A. IT. Turnbull and Co., have received the following cablegram from their principals, Messrs. W. Weddcl and Co., Ltd., London, dated October 30:—“At tallow auctions to-day 900 casks were offered of which 200 casks were sold. Late rates to Gd. less.” GOLD AND SILVER London, October 31. Gold.—£4 4s. Hid. per ounce. Silver. —Spot, 23d. per ounce; forward, 23 3-16(1. per ounce. THE EGG MARKET There is every probability' that there will bo a drop in the wholesale price of eggs within tlie next few days. Stocks are banking tip, for tlie consumption is not equal to the supply. The market has been showing a weakening tendency for some days past, and the present price of Is. 4(1. cannot hold. A further fall In values ought to stimulate egg-preserving. AUCTION SALES TO-DAY. Lowry Bay, 3 p.m.—Sale of property, account late Sir Charles Skerrett (Finch, Webster and Oswin). Khouri Estate, Karori, 2.30 p.m.—Subdivisional sale, 24 building sites (S. George Nathan Ltd.). MONDAY. Pabiatua Farmers’ Saleyards, noon. Spring cattle fair. TUESDAY. Dominion Farmers’ Institute, 2.30 p.m. —Sale account Supreme Court, land, Parkville Road, Karori (Horace Baker, Ltd.) Johnsonville fat stock sale, 1 p.m. (Wright, Stephenson, Ltd., Abraham and Williams, Ltd.),

Buyers. Sellers. N.Z. GOVT. LOANS— £/ s. d. £ s. d. .51 p.c. Ins. Stk... 1933 .... — .... 101 5 0 5.4 P.c. ditto, 1941... 99 10 0 — DEBENTURESNew Plymouth Harb. Board, 5 p.c., 1939 .. — 96 10 0 Well. Racing. Club . or. j 5 o — N.Z. Breweries (bonds) 17 9 18 3 BANKS— - 13 17 6 Australian Bank of Commerce 19 9 1 11 0 Commercial of Aust. (ord.) 16 0 16 6 Commercial Banking Co. (Sydney) 23 5 0 23 15 0 National ot N.Z — 6 15 6 National of Australasia (£5) 815 0 •9 0 0 New South Wales .. 47 6 0 New Zealand — 3 0 0 Ditto (long term) .... — 1 8 9 Union ot Australia ... —— 14 9 0 EINANCIAE— Goldsbrough Mort .. 2 2 6 —- N.Z. Guarantee Corp. 0 8 5 ■ 0 8 10 GAS— Auckland (paid) 14 6 — Christchurch 16 6 .— Wellington (ord.) ... 1 14 0 INSURANCE— ♦0 16 6 South British 3 4 6 MEAT PRESERVING— oh r - 2 4 3 Canterbury Frozen Meat (ord.) 8 0 0 — N.Z. Refrigerat. (£1) — 0 13 0 Ditto (10s.) 0 5 9 0 6 0 TRANSPORT— Huddart, Parker (ord.) 2 3 0 Union Steam (pref.) . — 1’1 3 P. and 0. def. stock.. —— 2 17 0 WOOIXEN— Wellington (ord.) ... «—• • 6 12 6 BREWERIES— New Zealand — 4 8 0 2 13 3 MISCELLANEOUS— Burns, Philp, and Co. •2 4 0 British Tobacco (Aust.), (ord.) 2. 3 10 * •.. . Dental and Medical .. 0 10 0 Howard Smith (ord.) ——■ 12 6 National Electric ... 0 9 3 N.Z. Paper Mills — •10 6 Wairarapa Farmers' (pref.) - ■- 0 16 3 Taranaki Oil — 0 5 0 Wilson’s Cement .... 2 2 0 ——• MINING— Mount Lyell 2 2 0 — Waihi ' * ~ •r0 12 R •Cum. dividend, f Ex dividend.

Australia Iron and Steel (pref.) ..? 3? Half-year To-day Valhi Gold Mining Is. per share To-day Bank of Adelaide 5 Half-year Nov. 6 Sharlaud and Co. (ord and prof.) 4} Half-year Nov. 7 Abraham & AV ill in ms (Ltd.), ord 2} Half-year Nov. 11 Farmers’ Co-op. Aue tionecring .... 8 Year Nov. 12 Bruce Woollen Co. (pref.) 7 Year Nov. 13 Queensland Nat. Bk. Quarter Nov. J-l Burns. Philp & Co. Half-year Nov. 15 Dalgety and Co. i) Half-year Nov. 18 National Bank of Australasia 5 Half-year Nov. 27 Australian Glass . Half-year Dec. 1

those of October 24:— Consols, 2* p.c Price Variation £ 51 s. 10 d. 0 £ s. d. Gt Funding Loan, 4 p.c.. 19G0-90 87 0 0 1 10 Ot War Loan, 5 p.c., 1929-47 ±100 10 0 1 17 0» Conversion Ijoan, 3J p.c. 70 0 0 1 12 Ot Victory Bonds, 4 p.c. . 92 10 0 12 Ot Commonwealth, 5 p.c.. 1922-27 90 0 0 2 2 Gt Commonwealth, 0 p.c., 1931-41 100 *> 9 1 3t Victoria, 3 p.c., 1929-49 08 ib 0 15 ot Victoria, p.c., 1929-49 72 it 3 1 3t Victoria, 5J p.c., 1930-40 97 15 0 Kame Victoria, 5 p.c., 1932-42 93 0 0 12 ot Victoria, 4} p.c., 1940-00 90 0 0 3 0 Ot N.S. Wales, 4 p.c., 1933 93 6 *» 15 ot N.S. Wales, 3 p.c., 1933 85 0 0 Ot N.S. Wales, 3} p.c., 1930-50 72 18 9 1 18 9* N.S. Wales, M p.c., 1922-32 97 15 0 15 ot N.S. Wales, 6i p.c., 1930 40 N.S. Wales, 6 p.e., 1930-40 101 5 0 10 0t 99 7 6 10 Ot Queensland, 3} p.c., 1930 Queensland, 3 p.c , 192247 ; 98 15 0 y Ot 09 15 0 10 Ot Queensland, 6 p.c., 193040 09 15 0 5 Of New Zealand, 4 p.c., 1929 99 7 6 2 6* New Zealand, 3J p.c., 1940 80 13 9 3 9* New Zealand, 3 p.c., 1945 76 5 0 5 Ot New Zealand, 6 p.c., 1930-51 103 11 3 3 9’ South Australia, 3J p.c. 1939 83 0 0 2 Gt South Australia, 3 p.c., 1910 or after 57 2 6 1 7 Gt South Australia, Gj p.c., 1930-40 101 0 0 7 Gt Tasmania. 3J p.c., .192040 83 12 6 1 12 6f Tasmania, 3 p.c., 192040 79 12 6 same Tasmania, GJ p.c., 193040 101 7 6 7 Gt West Australia, 3} p.e., 1929-35 87 17 6 2 Gt West Australia, 3 p.c.. 1915-35 80 10 0 10 Of West Australia, 6 p.c., 1930-40 100 o 0 10 Of tHiffhea. •‘Lowes. XEx inteie&t

yesterday. wl!rljIX( j TO x. £ n. d. 2 19 9 2 19 8 Commercial Bank of Sydney .... 19 6 23 10 0 AUCKLAND. £ 8. d. Commercial Bank of Australasia (late Thursday) 1 1 5 5 G 9 ’’ » (two) 1 5 10 6 3 Bank" of New’South Wales (Sydney register) 47 2 G .Goldsbrough Mort 4 0 Auckland Gas 1 Northern Steam Ship 0 14 10 Staples Brewery 13 10 Hayward’s Pictures 0 18 0 N.Z. Farmers’ Fertiliser ... 1 0 Robinson Ice Cream 1 Renown, ordinary , 0 li CHRISTCHURCH. £ s. d. Australian Bank of Commerce .... 1 11 G Commercial Bank of Australia .. 1 6 Commercial Bank of Sydney (two) 23 15 0 English. Scottish, and Australian 7 15 0 Bank of New Zealand (two) .... 2 19 9 Goldsbrough Mort 3 4 New Zealand Breweries 4 b 9 Staples Brewery 2 13 0 Mount Lyell (seven) 0 1 • 1 0 0 N.z: Farmers’ Co-op., Gi p.c., Stock, 1915 90 0 0 Mahakipawa Goldfield 0 0 5} Sale reported:— Mount Lyell 2 1 5 DUNEDIN. Sales reported:— d. £ 3. Commercial Bank of Australia .. 1 0 6 Commercial Bank of Australia .. 1 5 10 Reported after last call: — 3 Staples Brewery 13 N.Z. Insurance G 0 South British Insurance 3 o 0 Colonial Sugar (cum div.) 54 0 0

previous year as under: I—. 1020 1928. Capital— I? £ Ordinary 100,000 100,000 Preference ........... , 41,704 27,211 Paid up , 141,764 127,211 Reserves ............... 17,867 17,879 Deposits 12.019 10,032 Bank overdraft 85.321 78.900 Current liabilities 6,229 5,268 Assets— Plant account 100,712 87,835 Premises account 38,021 34,884 Stock 101,907 97,404 Book debts 20,434 15,890 Bills receivable 1,187 —

par:— Oct. 31. Oct. 29. Par. Paris, francs to £1 123.820 123.830 124.21 New York, dollars to £1 .. 4.8713-16 4.8715-16 4.866 Montreal, dollars • to £1 4.00? 4.98} 4.866 Brussels, belgas to £1" 31.865 34.865 35.00 Geneva, francs to £1 25.17-1 25.17 25.22 A in s t e r <1 a m, florins to £1 . 12.08 J 12.09} 12.10 Milan, lire to £1 93.10} 93.12 92.46 Berlin, marks to £1 2Q.38} 20.38 20.43 Stockholm, knr. to £1 18.165 18.165 18.159 Copenhagen, knr. to £1 18.205 18.200 18.159 Oslo, knr. to £1 18.205 18.200 18.159 Vienna, schillings to £1 34.70 34.71 35.58} Prague, knr. to £1 164} 164} 24.02 Helsingfors, marks to £1 .. 194} 194} 192.23 Madrid, pesetas to £1 34.274 34.06 25.22 J Lisbon, escudos to £1 108.25 108.25 . Athens, drachma to £1 375 375 375 Bucharest, lei to £1 815} 816 813.6 Rio de Janeiro, pence to iniirels 5 27-32 5 27-32 '— Buenos Aires, pence to dollar 45} 46} 47.57 Bombay, pence to rupee 17 13-16 17 13-16 18 Shanghai, pence to tael 26} 26} Hong-Kong, pence to dollar 20*2 201 — Yokohama, pence to yen 2311-16 23 23-32 24.58 Batavia, florins to £1 12.14 12.10