FINANCE and COMMERCE.

Dominion, Volume 23, Issue 34, 4 November 1929, Page 14

FINANCE and COMMERCE.

STOCKS AND SHARES LAST WEEK’S MARKET DEALINGS IN BANKS turnover of shares on the Stock Exchanges of the Dominion last week was below the average, partly owing to the break caused by the holiday last Monday. The bulk of the transactions 1 recorded was In bank shares. ',l’here was very little doing in the other groups. Government securities have been quiet with a restricted demand, and values arc a shade easier. The 4$ per cents. (1938) changed hands at £lOO 2s. 6d. and £lOO, and the 5) per cents. (1933) at £lOl. What little business was done in debentures "was recorded on the Christchurch Stock Exchange, where Christchurch Drainage Board 0} per cents, (1938-73) sold at £lOO 10s.; New Zealand Fanners’ Co-op. 6j per cents. (1940) at £92 10s., and £02,. and (1945) at £OO. , The heaviest trading for the week was in bank shares, particularly in Commercial Bank of Australia, of which there were about 32 sales. Early in the week they changed hands at 265. 10d., and steadily declined to 245. Bd., but recovered after ' that and towards the week-end sales'were ,•*' registered at 255. 9d. to 265. 7d. Bank ■ of New Zealand were well supported, and most of the business done during the week was at 595. 6d. to 50s. Od. Bank of New South Wales sold at varying prices, the course of sales being £47 155., £47 17s. 6d., . £47 10s„ £47 ss„ £47 15s„ and £47 2s. 6d. This last sale was for shares on the Sydney register, and the low price at which the shares changed hands is evidence of the existence of weak holders on the other side. Union Bank changed hands at £l4 10s., and Bank of Australasia at £l3 155., but the demand for these shares was limited. National Bank of New Zea-

land had quittance at £6 145., which is about equal to the previous sale. EngjV.llsh, Scottish, and Australian Bank sold nt £7 16s. Cd. and £7 155.; this bank, together with the Bank of New South " Wales and the National Bank of Australasia. will be distributing dividends this month. The National Bank of Australasia £5 paid shares were sold at £8 15s.

» . cum. dividend, while in the middle of last , •; month buyers paid up to £9 ss. for them, j U Australian Bank of Commerce have drop's.; ped sharply to sales at 31s. 6d. Commercial Banking Company of Sydney changed hands at '£23 10s. and £23 155., while during the previous week they , changed hands at £24 55., and tn the last Al week in September they sold at £26 ss.

Jo A Dull Market. j;-! There was very little trading in insuronce shares. New 'Zealand Insurance were transferred at)46s. 3d. and 4fls., and South British Insurance at 655. Financial shares were very mbeh neglected business being restricted to Goldsbrough Mort and " Co. at 445. and 435. 4d. Business in some . • of the other groups was in spots. Aucka; land Gas sold at 245. Bd., 245. 9d., and 245. 10d., all sales being made in the home t ■■ town of the company. Meat shares were very sl6w, with a poor demand. There -<! was a transaction In Gear Meat at 445. on the Auckland Exchange, and two sales were made in Christchurch of ■ New Zealand Refrigerating 10s. paid at /A- ss. lid.

Woollen and timber shares were very ,p- dull, and while sellers were about there < were no buyers. Investors seem uncerc; tain about the value of these shares. Shipping shares were slow and dull. BusiV ness was done in Devonport Steam Ferry ; at 225., and Northern Steam at 14s. lOd. H Coal shares were also slow, but values are z. well maintained, as sellers show no disA position to make concessions. Renown Aj Collieries ordinary changed hands at 17s. JljSd., and Taupiri Coal at 30s. Brewery shares were easier. New Zealand Brews':;- eries changed hands at 88s., 87s. 6d., and *SGs. 9d., and Staples and Co. at 535. 10d., «;535.. and 535. 3d. There was more trading in the miseellaneous.section than for some weeks last, :’?'■ probably because buyers are securing ■ some bargains. British Tobacco were transferred at 445. 74d., 435. 6d., and 445.; Colonial Sugar were sold at £54 cum. i.l- dividend of 255., now payable. They i4,'were sold last week at £54 55., and before A that at £54 7s. Gd., while in the last week ;Xln September they changed hands as high .■i' as £57 15s. Victoria Nyanza Sugar were rj.sold at 425. Dunlop Rubber at 265., I New Zealand Paper Mills at 20s. 3d.. New-. . ton King preference nt 12s. and 12s. 3d., Quill Morris at Ils. 6d„ Hayward’s Pic- -• tures at ISs., Farmers’ Trading Co. at os. 3d., New Zealand Farmers’ Fertiliser at 225.. Robinson's Ice Cream at 255. 3d., and ■ Wilson’s Cement at 425. 6d. Mount Lyell shares showed an easier tone, and changed ...’hands at 425. 3d., 41s. 6d„ 40s„ 415.. 41s. ",3d., and 41s. sd. Waiht were steady at ,13s. 7d. cum. dividend of Is., which was distributed on Friday, and Ohinemuri were Mid at 9s. 6d. and 9s. lOd. WELLINGTON EXCHANGE SATURDAY’S QUOTATIONS Buying and selling quotations at the final call on the Wellington Stock Exchange on Saturday were as follow:—

PRICE VARIATIONS Movements based on Saturday’s buying prices, compared with previous bids, were as under: — Rise. s. <l. Commercial Bank of Australia 1 0 Commercial Bank of Sydney 5 0 Bank New Zealand 0 4 Union Bank 1 0 Full. Bank of New South Wales 5 0 CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington on Saturday totalled £3017.

DEALINGS ON ’CHANGE SATURDAY’S BUSINESS DOMINION SALES Following are the sales of stocks and shares recorded on the Stock Exchanges of the. Dominion on Saturday morning:

NEW COMPANIES RECENT V REGISTRATIONS The following private companies were registered at Wellington on Friday: —- IV. Birkett and Sons, Ltd., 15 Thorndon Quay, Wellington. Private company. Objects: To carry on the business of importers of and dealers in and repairers of motor-vehicles of all descriptions. Capital: £5OO in £1 shares. Subscribers: William Birkett, merchant, Wellington, 490. shares; Horace Basil Birkett and Granville L. Birkett, salesmen, Wellington, each 5 shares. Rimu Sawmills (Mount Bruce), Ltd., 1 Masterton. Private company. Objects: To carry on the’ business ot sawmillers in the district ot Mount Bruce, near Masterton. Capital: £lOOO In £1 shares. Subscribers: John Darling Smith, Masterton, 150 shares; Alexander McKenzie, Masterton, 350 shares; Charles Croft Marsack, solicitor, Master- , ton, 500 shares. ■ Four new companies, two public and two private, were registered in Auckland on Wednesday as follow: — Harts, Ltd. Objects: To take over the business conducted by Hart Brothers, Ltd., importers and wholesale and retail dealers. Capital: £75,000, in 45,000 ordinary and 30,000 preference shares of £1 each. Subscribers: Bernard Emanuel Hart, William Valentine Worth. Leonard James Shrubsail and Hugh Ross Mackenzie, 300 preference shares each : Hannah Hart, 300 ordinary shares; William Harrison and Eric Stanley Watts, 10 preference shares each. Craig Investment Company, Ltd., underwriters and financial agents. Capital, £25,000 in £1 shares. Subscribers: Graham Stewart Craig, Norman Alexander Duthie, Cyril James Palmer. David Syme, Henry Richardson, August Vialoiix, Peter Gilchrist and George Langdon Gladding, 1 share each. | IV. E. Stephenson. Ltd., private company, deniers In billiard tables and accessories. Capital: £l5OO in £1 sares. Subscribers: Athol Ramsden Hodgson. Harold James Court and William Edwin Stephenson, 500 shares each. Equipment Investments, Ltd., private company, financiers and concessionaires.. Capital, £lOOO. in £1 shares. Subscribers: Joseph Stanton and George Wilfred Wainwright, 500 shares each. 1 . ELECTROLYTIC ZINC INCREASED PROFITS A small increase in net profits is shown by the Electrolytic Zinc Company of Australasia, for the year ended June 30, the total being £367,018, against £363,025 in the previous year. The net profit has been; struck after allocating £145,1)00 for amortisation and depreciation and £40,611 for taxation. The dividend for the year at the rate of 12 per cent, absorbs £312,000, the sum ot £5O;<X)O is added to' the reserve fund, and the amount carried forward is £15,407. The reserve for amortisation, de-’ predation, and renewals amounts to £l,110,357, against £971,529, the general reserve stands at £340,000 against £290.000, and debenture sinking fund £107,416 against £88,921. Shares In other companies are valued at £68,311 against £32,700. The capital of the company is £2,600,000 in £1 shares, of which £1,100,000.; are ordinary and 1,500,000 preference shares. In view of the further development of: the company’s properties on the west coast of Tasmania, and the establishment; in 1930 of the mining Quid milling programme on a full production basis, the, directors have decided to extend the Risdon plant to increase its capacity by 30 per cent. The woipi.will occupy eighteen, months, and will not require new capital. The large mill at Roseberry, Tasmania, and its necessary services are in course of completion, and, If. special equipment from overseas arrives when expected, milling operations will probably be commenced in April or May next. Power will be; supplied by the Mount Lyell Company and; the concentrates will be transported by the: Emu Bay Railway Company. The shares of this company were sold recently at 355., at which figure the return is a shade under £7 3s. per cent. BRITISH CONVERSION LOAN. By Telegraph.—Press Association. (Rec. November 3, 11 p.m.). 1 London, October 30. The prospectus is published of a new British Government 5 per cent, conversion loan, 1944-04, which is offered in unlimited amount nt par. Holders of 5 per cent. War Loan are offered the option of converting at par. The total outstanding is over £2,184,000,000. P. AND 0. DIVIDEND London, Novembere 30. The Peninsular and Oriental Steam Navigation Company.has declared a final dividend on the deferred stock of 7 per cent., free of income tax. Witli the interim dividend of 5 per cent, paid in May, the dividend for the year is 12 per cent., the same as last year. In previous years the company paid 10 per cent. „■ ; TARANAKI BREWERY, LTD. The annual meeting of shareholders ot Taranaki Brewery and Cordials, Limited, was held at New Plymouth last week. The gross profit for the year was £331 Ils. 6d. The following amounts were written off: Depreciation, £157 9s. 5d.: preliminary expenses, £100; bad debts, £l3O 18s. 3d. AUCTION SALES TO-DAY. Pahiatua Farmers’ Saleyards, noon.— Spring cattle fair. , ’ TO-MORROW. 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.) Levin.—Stock sale. WEDNESDAY. Brandon Street, 2.30 p.m.—Sale of property, 347 Parade, Island Bay (J. H. Bethune and Co.) 14 Brandon Street, 2.30 p.m.—Sale of shopping sites, Main Street, Lower Hutt (H. Ernest Leighton, Ltd.) State Fire Buildings. 2.30 p.m.—Properties (Commissioner Crown Lands.) State Fire Buildings, 2.30 p.m.—Sale of land, Kaitieke County (Commissioner Crown Lands). Panama Street, 2.30 p.m.—Sale of property, Sutherland Road, Melrose (J. W. Foster and Co.) Johnston Chambers, Panama Street, 2.30. —Sale of property, Khandallah Road. Ngaio (J. W. Foster and Co.) Colombo Road Yards, 11.30 a m.—Spring cattle fair. Johnsonville, 1 p.m,—Stock sale.

ENGLISH MARKETS FROZEN MEAT PRICES i . LAMB EASIER By Telegraph.—Press Association. (Rec. November 3, 5.5 p.m.) London, November 2Mutton. Canterbury, light, 6)d.; medium, Bid. North Islandj light 6i<L; medium 6a., heavy 5Jd.; New Zealand ewes, 4fd. Australian firsts, 4 5-Sd.; seconds, 4id. Argentine firsts. sd. . Patagonian, medium, 4 5-Bd. Lamb. Canterbury, light, Bid.; medium, 7 7-Bd.; heavy. 7 3-Bd.; seconds, 7 l-Bd. other selecteds, light, 8 3-Bd. Victorian firsts, light, B}d.; medium, 8(1. Argentine firsts, 7jd.; seconds, (id., «4<l. Patagonian firsts, light, 6 5-Sd,; seconds. 6 3-Bd. , Frozen Beef. Australian, crops, 4 7-16 d.; hinds, 5 ° Chilled Argentine fores, 4sd.; hinds, 6Jd.; others unchanged. Meat B'oard’s Report. Lamb—Market is easier, owing to over supplies. Mutton.—Market is dull. Lightweight wethers neglected, but better de mand for heavyweights at lower prices. New Zealand porker pigs.—Good demand for all arrivals. New Zealand baconer pigs.—Nominal prices owing to qepieted St The S ’ above report, dated November .1, was receivede by the New Zealand Meat Producers' Board from its London office, (vhich also advised that Smithheld delivercd prices averaged as follows for the week ending Friday (prices for the two previous weeks being given In parentheses). — New Zealand Wethers and Maidens — Canterbury quality, selected brands, oOlbs. and under, GJd. (Bid., 63d.); o7lb to 6id. (6 3-Bd., 6 3-8 d.); 651 b to 721 b., 6d. (6d„ Gd.); other brands. 561 b and under 63d. (6 3-8 d„ 6 3-8 d.); 571 b. to 641 b„ 6d. (6 l-8d„ Gid.); 651 b. to 721 b„ 53d. (a 7-8 d„ 6d.). ' New Zealand Ewes.—64lb. and under, 4id. (4 3-Bd.. 4 3-Bd.). - . < . New Zealand Lambs.-Canterbury quality, 361 b. and under. 83d. (8 7-Sd- 8 7-Bd.), Z7lb to 421 b.. 7 7-Bd. (8(1.. 8 l-Bd.), 431 b. to 501 b.; 7 3-Bd. (7*d.. 7 5-Sd); seconds. 7 l-8d (7id.. 7 3xBd.); selected brands, 361 b. and under, 8 3-Bd,- (B}d., 8 5-8 d.); 371 b. to 421 b., 73d. (73d.. 7 7-8 d.); other brands, Ist quality, 361 b mnd under 7id (73d., ,8d.); 371 b. to 421 b.. 7id. (7Jd., 7 5-8 d.); second quality, 301 b. to 321 b. averaSAus?ralianiLambs.—(New season’s), Victorian; -Ist quality, 361 b. and under, BJd. (8 3-8 d„ 8 3-Sd.; 371 b. to 421 b., Bd. (7 7-Bd., 7 7-Bd.). , , * Argentine Lambs.— (Nejv season s), Ist quality, 361 b. and under, Bd.; 3<lb. to 4_lb., 74d. New Zealand Beef.—Not quoted. Argentine Chilled Beef.—Ox fores. 43d. (4 5-Bd., 4 3-8(1.); ox hinds, 63d. (6 60-Bd., Frozen Beef.—Ox crops over 1001 b., 4Jd. (4 3-8 d„ 4id.); ox hinds over 1601 b., 5 5-Bd. (5Jd., 5 3-Bd.). New Zealand Frozen Pork.—Porkers. 60Ib. to 801 b., 93d. (9Jd., 93d.); porkers, 811 b. to 991 b., 93d. (9id., 9»d.); porkers. 1001 b to 1201 b., 9}d. (9*d., 9id.): . bacondrs. 1211 b. to 1801 b., 83d. (81d„ Btd.). Frozen Veal.—B 3-Bd. Messrs. Levin and Co., Ltd., bave received the following cable from their London agents, dated November 1. Frozen meat quotations (prices on a “delivered basis. i.c., including storagb charges, cartage, .market tolls, etd.) :-North Island Down lambs: 281 b. to 361 b. and 361 b to 421 b., no quotation. crossbred lambs: 281 b. to 361 b. and 361 b. to 421 b.; no quotation; North Island , second quality lambs: Average 301 b. to 311 b., 7Jd. ner lb. Best North Island wether sheep: Under 481 b., 6 7-Bd. per lb.; 481 b. to 561 b., 6id ; 501 b to 641 b., 6id.; 641 b toJ2lb 6d. North Island ewes: 481 b" to 561 b., 41(1.; 561 b. to 641 h„ 4Jd.; 641 b. to 721 b.; 4 l-Bd. New Zealand prime ox beef: 1601 b. to 2201 b., none offering. As compared with .last week’s quotations, second quality lamb is unchanged, wethers and ewes, l-Bd. to }d. per lb. lower The market for lamb shows no change of any importance, excepting prime lamb BS, which is slightly better. DAIRY PRODUCE BUTTER SLOW, CHEESE STEADY According to the report dated November 1 received by the New Zealand Dairy Produce Board from its London office, the butter market is slow. The retail price of Danish has been reduced to Is. lid per lb., while that of New Zealand is unchanged at Is. 10d. per lb. The cheese market is steady, and retail prices are unchanged. English Finest Farmers’ cheese is quoted at 102 s. to 110 s The deliveries of New Zealand butter during the week were 670 tons, the quantity in store being 3900 tons, the same as a Deliveries of New Zealand cheese • last week were 11.777 crates, the quantity in store being 35,901 crates, as .against 10.000 crates a vear ago. The Tainul, from New Zealand, started discharging her cheese on October 28. and finished next day; the discharge of her butter was started on October 30. x „ ' v i The following prices as at November 1 are quoted by the board’s London office, those for the previous week being given in parentheses:— BUTTER. New Zealand, salted, 1755. to 180 s. (1775. to 182 s.): unsalted, 188 s. to 190 s. (188 s. to 190 s.); 1755. to 180 s. equals approximately is. s}d. f.0.b.; Ist whey, 1655. (168 s. 2nd whey, 1635. (1645.). ' Australian, salted,’ 1745. to l<Bs. (l<4s. to 178 s.); unsalted, 184 s- to 188 s. (184 s. to XBSs.). Argentine, unsalted, 1765. to 180 s. (1765. to 180 s.). Irish creamery, salted, 1745. (1745. to 1765.); unsalted, 178 s. (1795.). Danish. 185 s. f.0.b., 1925. to 1945. spot (1918., 1945. to 1985.). Dutch, unsalted. i9Bs. to 2025. (IDSs. to 2005.). ■ Ukraniau. 170 s. to 1745. (170 s. to 1765.). Polish, 1565. to 1645. (1565. to 1705.). CHEESE. New Zealand, white, 945. to 955. (935. to 945.); coloured. 935. .to 945. (925. to 945.); 935. to 955. equals ‘approximately 8 5-Bd. f.o.b. Canadian, white, 955. to 975.. except up to 100 s.) (955. to 975.); coloured, 955. to 06s. to 98s. (945. to 965.); c.i.f., 955. (945.). Agents’ Reports. The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London dated November 1 is as follows:—Butter: Market slow. New Zealand, 1755. to 180 s.; unsalted. 188 s. to 100 s.; Australian, 1745. to 1785.; Argentine, 1765. to 180 s.: Danish, 102 s. to 1945.; Siberian, 168 s. to 170 s. Cheese: Market steady. New Zealand white. 935. to 955.: coloured, 925. to 945.; Canadian, white, 955. to 975.; coloured, 955. to 965. M A. Eliott, Ltd.. Palmerston North, have received the following cabled advice from their London agents:—Butter: The market Is slow; 1755. to ISOs.; unsalted, 188 s. to 190 s. Cheese: Market steady; white, 945. to 955.; coloured. 935. to 945. Amalgamated Dairies. Ltd., have received the following market, report from their London office, dated November 1:— Butter: Anchor, 1825.; market weaker: old stored butter offering low. prices; little business passing: Danish butter, 186 s„ f.o.b. Cheese: White, 945.; coloured, 935.: market quiet. ‘’ B TALLOW (Rec. November 3, 5.5 p.m.) . London, November 2. Tallow. —Stocks, 2850 tons; imports, 1465 tons; deliveries, 1987 tons. There will be no public sales of tallow this week, according to a cable message' dated November 1 received by Dalgety and Co., Ltd., from their head office, London. BRADFORD TOPS London, October 31. Bradford quotations unchanged. Merinos very firm, but operators unwilling to follow Australian prices. Crossbreds somewhat Irregular. RAW MATERIALS Australian Press Association, (Rec. November 3, 5.5 p.m.) London, November 2. Friday's closing quotations for the following raw materials, those for October 25 being given in parentheses, were:— Cotton. —Liverpool quotation, American middling upland, November delivery, not received (9.60 d. Rubber.—Para, 9d. per lb. (9 5-Sd.); plantation, smoked, 8 15-16(1. per lb. (93d.). Jute—October-November shipment, £2B ss. per ton (£2B 10s.). Hemp.—None offering. Copra.—November-December shipment, South Sea, £2l ss. per ton (£2l 2s. 6(1.); ■Plantation Rabaul. £2l 10s. per ton (£2l 10 Llnseed 0i1.—£45 per ton Turpentine.—43s. per cwt. (435.

METAL MARKET LONDON QUOTATIONS ' London, November 1. Metal exchange quotations arc as follow, those previously cabled being given for

HIDES VALUES London, November 1. Hides. —-Meat works dry-salted, Queensland. 351 b. to 4.51 b., Bd.; 301 b. to 401 b., Bd.; 251 b. to 351 b„ 8 l-Bd.; 201 b. to 301 b., B}d. New South IVales, same weights, B}d., B}d., BJd., 8?d. Wet salted, Queensland: 5011). to 001 b.. 53d.; 401 b. to 501 b., 6d. New South Wales: Ditto, 7d. Victorian abattoirs: 501 b. to 601 b., Gid.; 401 b. to 501 b., GJd. • WHEAT MARKET (Rec. November. 3, 11 p.m.) London, November 3. Wheat.—Cargoes were fully steady in sympathy with the better closing of American and Canadian advices. Sellers were asking 3d. advance but there was no response. Parcels were firm, at about 3d. higher. The demand wns quiet. Futures: London, Oitober/November, 495. per quarter: December. 495. Gd.; January, 50s. 2d. Liverpool, December, 9s. 2 3-Bd. per cental; March, 9s. 9Jd.; May, 10s. OJd.

N.Z. GOVT. LOANS— Buyers. Sellers. £ s. d. £ s. d. 5} p.c. Ins. Stk„ 1033 DEBENTURES— 101 2 6 Well. Racing Club . 106 15 0 New Plymouth Harb. ■— Board. 5 p.e., 1030 .. N.Z. Breweries (bonds) 96 10 0 Il 18 6 BANKS— Australasia —— 13 17 6 Australian Bank of Commerce 1 11 0 . .. ■ - "■ Commercial of Aust. (ord.) Commercial Banking 16 6 17 3 Co. (Sydney) ....... English. Scottish, and 21 0 0 24 15 0 Australian 7 15 0 . 1 National of N.Z. ..... 6 14 7 6 15 6 National of Australasia (£5) ♦8 17 0 New South Wales ... 47 10 0 —— New Zealand 2 10 10 8 0 3 Ditto (long; term) ... 18 3 18 9 Union of Australia .. Ditto (Melbourne re14 7 0 14 11 9 gister) 14 8 0 14 12 6 FINANCIAIAAbraham and Williams (pref.) — 4 12 0 Dalgety and Co. ' Ditto (Melbourne re'14 0 0 — gister) 1’ N.Z, Guarantee Corp. 14 0 0 (ord.) GAS— 0 8 4 0 8 10 Auckland (paid) .14 6 • MM. Christchurch 1 0 6 '.■■■ —- Ditto (contr.) ' 0 13 2 " * ■ Wellington (ord.) ... 1 13 0 1 14 0 INSURANCE— National —— *0 16 7 South British MEAT PRESERVING— 3 4 6 — Gear 2 3 9 2 4 3 Canterbury Frozen Meat (ord.) 8 0 0 —M N.Z. Refrfgerat. (£1) — 0 13 0 Ditto (Ids.) 0 5 10 0 6 0 TRANSPORT— Huddart. Parker (ord.) —- 2 3 9 P. and O. def. stock.. WOOLLEN— ” — 2 18 9 Kaiapoi ,ord.) 0 14 0 Wellington (ord.) ... COAD— — 6 13 0 Walpa — 0 15 0 Hiktirangl (ord.) TIMBER— 0 19 — National 0 8 0 '.0 10 0 Lcyland-O’Brien .... BREWERIES— — 1 12 6 New Zealand — ■ 4 8 6 Staples and Co 2 12 9 2 14 0 t Ward and Co 0 12 9 Sunshine — 0 15 0 ■MISCELLANEOUS— : Burns, Philp, and Co. 2 2 3 ‘2 3 6 British Tobacco (Aust.), (ord.) 2 5 0 •MM Dental and Medical .. 0 10 0 MM ■ Electrolytic Zinc (ord.) 1 13 0 — , Ditto (pref.) 1 14 0 Ploward Smith (ord.) — 12 6 ■ N.Z, Drug —M 3 15 9 N.Z. Paper Mills MM *1 0 6 , Sharland & Co. (ord.) . Wairarapa Farmers’ — 12 6 (ord.) 0’ 2 9 — Ditto (pref.) ........ 0 16 3 ; Well. Queen's Theatre 13 0 — Wilson’s Cement .... 2 2 0 — Strand, Ltd. ..; 14 0 — Farmer and Co — tl' 6 6 MINING— Mount Lyell 2 0 0 ■ <MM> Waihl —- to 12 8 •Cum. dividend. fEx dividend.

WELLINGTON. £ s. d. Commercial Bank (late sale) 1 1 G 3 6 9 Bank" of New Zealand 3 0 0 I AUCKLAND. £ s. d. Union-Bank of Australia ... . „ 14 7 0 Commercial Bank of Australia (~) 1 7 0 New South Wales .; 48 0 9 N.Z. Insurance 2 6 3 Renown Collieries Farmers’ Trading Co 0 17 3 0 9 3 DUNEDIN. £ s. d. Kildare Mining 0 3 G Sales reported:— Kaiapoi Woollen (contributing) . 0. 3 10 Mount Lyell 2 1 6 Commercial Bank of Australia .. Bank of New Zealand (late Fri1 7 1 day) 3 0 0

purposes of comparison : — Oct. 28. Nov. 1. Per ton. ePr ton.. Copper— • £ s. d. x s. d. Standard, spot .. 72 3 U 81 2 3 Standard, forward 72 3 1J 70 18 9 Electrolytic S3 10 0 83 10 0 to 84 10 0 81 0 0 Wire bars 84 10 0 84 0 0 Lead— Spot .... 23 7 0 22 10 0 Ko r ward 23 5 0 22 7 8 Spelter— Spot .... 22 1 3 Forward 22 10 0 22 10 0 Tin— Spot .... 183 12 6 189 2 6 Forward 187 12 6 192 2 G Silver— Fine, per oz 22 15-lfld. 23d. Standard, per oz. . 24 15-16. 24 3-lGd.