FINANCE AND COMMERCE.

Dominion, Volume 23, Issue 56, 29 November 1929, Page 14

FINANCE AND COMMERCE.

STOCKS AND SHARES WELLINGTON EXCHANGE BUSINESS QUIET Dullness was again - “afeature of the Wellington share market'yesterday. Only two sales were recorded, and again the buying orders were few in .number,’ while sellers were numerous. There was a slightly better demand for gilt-edged seeurii ties, the 4} per cent, stocks and bonds (1638) and tlie 5} per cents. (1941) were wanted at par, and the 54 per cents. (1930) I at £lOl/10/-. There were no sellers of these stocks. Wellington Racing Club debentures were steady and unchanged at £lO7, and New Zealand Breweries, bonds, were 3d. higher, at 28/3. Bank shares were again very slow. English. Scottish, and Australian Bank at £7/12/- were 2/- higher than on Monday, but Bank of New Zealand at 59/9 were Id. down. Bank of New Zealand long term were unchanged at 2S/2. Sellers of Bank ■ of Australasia reduced their quotation t/6' to £l3/13/0, and sellers of Bank of New South Wales by 10/- to £47/15/-. Union Bank were on sale at £l4/5/-, which shows a drop of 3/-. There was very little business offering'in the financial section. New Zealand Guarantee Corporation, ordinary, were steady at 8/4, and there were bids of £7/2/6 for Wellington Trust and Loan: and 10/- for Wellington Deposit, and both were un-i-hanged. Insurance shares were steady. New Zealand Insurance at 45/0, and South ' British Insurance at 04/-. National Insurance were offered at 15/9, or Id. less than on' the previous day. • There has not been any demand for Wellington Woollen for-a long time, but yesterday the preference shares were wanted at £O/9/-. There was a bid of 40/- for Burns, Philp, and Co., after a lapse of nearly a fortnight. Scoullar and Co. at 20/-, Sharland and Co. preference at 20/9, and Wairarapa Farmers' ordinary at 3/3 were unchanged. The Wellington Queen’s Theatre Co. has declared a dividend of 10 per cent, or 2/- per share, and the shares were in demand at 23/- cum dividend. All other shares remain dull. YESTERDAY’S QUOTATIONS Buying and selling quotations at the final call on the Wellington Stock Ex-

MOUNT LYELL COMPANY INCREASED PROFITS The .Mount Lyell Mining and Railway Company (Tasmania) earned a net profit from all sources for the year ended Sep-, tember 30, amounting' to £324,128. which contrasts with £200,050 the net profit for the previous year. The profit for the past vear was struck after allowing £46,047 for prospecting and development, £05,570 for depreciation, and £34.120 for taxation. The dividend and bonus declared for the final half-year is equal to 13J. The liquid assets of the company as at September 30, apart from share holdings in other companies show a surplus of £420,008, as against £641,455 in the previous year, made up as under:— Metals on hand, in transit, etc. .. £280,700 Sundry debtors 52,334 Stock on hand 13£,:>79 Loan on deposit 7,500 Credit at bank 3,93;> £482,147 Less — Sundry creditors, £51.469, and London transfers, £10,070 61,530 £420,608 The shrinkage in the surplus of liquid assets, compared with last year, is due mainly to the fact that sundry debtors and stocks on hand formerly pertaining to the chemical works department are now represented b.v shares in Commonwealth Fertilisers and Chemicals, Limited. The following is a comparison of some of the leading items for the past two years:— 1028. 1929. Ore smelted, tons .... 37,975 40,181 Production— Copper, tons 7 ,060 7,303 Silver, oz 121,456 125,687 Gold, ox 2,360 2,462 Net profit £200,050 £324,128 Dividends declared .. £161,149 £257,839 Depreciation £36,701 £65,576 Prospecting and development . ..£25,236 £46,067 'Taxation £12,549 £34,120 Reserves £797,522 £797,522 Surplus liquid assets £641,455 £420,608 Ore reserves, North Lvell, tons 878,670 1,013,672 Lyell con stock, tons 500,000 600,000 Tile company’s holdings of shares in other companies now stand in the books at a total valuation of £1,382,907. The shares, which are all £1 fully paid up, are as Commonwealth Fertilisers and Chemicals, Ltd., 283,931, 7 per cent, cumulative preference shares, and 596,255 ordinary shares; total, 880,186. , Cuming, Smith, and Mt. Lyell Farmers’ Fertilisers, Ltd., 400,000. Australian Fertilisers Pty., Ltd., 93,750. Wallaroo Mount Lyell Jertllisers, Ltd., “’Sletal Manufacturers Pty.. Ltd.. 196.817. Zinc Producers’ Association Pty., Ltd., 250. CUSTOMS REVENUE. The Customs revenue collected at the port of Wellington yesterday totalled £6549. .

DEALINGS ON ’CHANGE YESTERDAY’S BUSINESS DOMINION SALES

WINE BUSINESS NEW PRIVATE COMPANY The following private company was registered at Wellington yesterday: Emu, Limited, 87 The Terrace, Wellington. Objects: To carry on the business of wine merchants, manufacturers, etc Capital, £lO,OOO in 5000 £1 preference shares and 5000 £1 ordinary shares. The preference shares confer the right to a fixed cumulative preference dividend of 7 per cent, per annum. Subscribers: The Emu Australian Wine Company, Ltd., of Swan Street, London, 5000 preference shares and 3000 ordinary shares; Bertram Reginald Collins, company manager, Wellington. 2000 ordinary shares.

QUEENSLAND INSURANCE CO.’S PROFIT In their report for the year ended September 30, the directors of the Queensland Insurance Company, Ltd., show a profit of £82,508/13/B,after transferring £20,000 to reserve for unexpired risks. To the profit is added the crei/c balance brought forward from last year, £21,415/10/1, making a total sum of £103,924/9/9 to be dealt with. This the directors propose to do as follows: —Payment of dividend of 2/- per share. £50,000: payment of a bonus of fid. per share, £12,500; carry forward, £41,424/9/9. The directors state that the fullest provision has been made for all known and outstanding liabilities. Messrs. James Burns and A. It. Harwood, retiring directors, offer themselves for re-election. The dividend and bonus amounting to 124 per cent, is the same as for the past five years. Premiums, "less reinsurances, were £832,418 (compared with £882,801 last year): losses were £494,587, and charges and taxes £310,900. There is a general reserve of £250,000; and a reserve for unexpired risks of £400,000; sundry creditors, reinsurances, etc., amount to £479,079. Paid-up capital stands at £500,000; revenue account £103,924. As'sets include £762,900 in Government securities, £191,500 on fixed deposits, £107,004 in municipal investments, £161,760 in shares bonds, and debentures in other companies: cash at call and in hand. £95,900; branch and agency balances, £141,551; sundry debtors, premiums outstanding, reinsurance claims, etc., £112,693.

FREEZING COMPANY’S LOSSES At the annual meeting of the North Canterbury Sheepfarmers' Co-operative Freezing Export and Agency, i Co., Ltd:; held in Christchurch oil Tuesday, the report gnd balance-sheet for the year euded September 30, -1929, which- were adopted, set out that the account showed a loss of £29,418/12/5, which the directors recommended should be met by writing off the general reserve of £9OOO and the dividend equalisation reserve of £5OOO, leaving a balance of £15.418/12/5 to be carried forward. The retiring directors were Messrs./. G. D. Greenwood and J. H. Blackwell. 'Mr. Greenwood did not seek re-election 'and Mr. Colin Mclntosh, of West Eyreton, who had been nominated for a seat on the board, was duly elected with Mr. J. H. Blackwell. The chairman (Mr. G. D. Greenwood) said the loss of £30,000 had been caused to a large extent by purchasing stock from producers at a higher price than the equivalent in Londou on the day it was sold. When stock was being purchased in tilis market at 10jd. per pound, the market price in London was something like 9d. His prognostications of .loss, although criticised in some quarters, had proved lo be very moderate compared to the loss sustained. For the second year, no depreciation had been written off. It had been done in this company ever since its inception except the last two years. Mr. Greenwood said lie was a very great supporter of amalgamation; amalgamation not only in freezing companies but in many other businesses. Amalgamation was the only factor that had saved them very considerable losses. Amalgamation between the company and the Canterbury Frozen Meat Company was proposed and brought under their notice at the meeting held in June last. The question was threshed out pretty freely. A majority of something like 400 votes was registered then in favour of amalgamation. Amalgamation of that description was popular not only with tlie Canterbury Frozen Meat Company, but also with the Refrigerating Company. That meant tliat the three farmers’ companies in Canterbury were in favour o£ amalgamation. He was still of the same opinion, and though he would not be further presiding at their meetings he would continue to watch with the same interest as heretofore the success of the company. Though amalgamation might not be carried in the freezing industry for some time, he felt certain that it would conic.

LEYLAND-O’BRIEN TIMBER COMPANY Auckland, November 28. Sir George Elliot presided at the 32nd annual meeting of shareholders of Ley-land-O'Brien Timber Company yesterday. He congratulated shareholders upon results the company had achieved during a very difficult year. As a result of careful management, the company had'been able to continue payment of its usual dividend. The dividend recommended was at the rate of 1/8 per share free of income tax, lOd. of which was paid in April. AUCTION SALES TO-DAY. 98 Manners Street, 2 p.m.—Sale of furniture (Ramsey Wilson and Co.) Feilding, 2.30 p.m.—Sale of seaside residence, Motuhara Hoad Extension. (It. I’. Stevens). 30 Homewood Hoad, Karori, 1 p.in.— Sale of furniture (E. Johnston and Co.) 246 Lambton Quay, 2 p.m.—Sale of oil paintings and water colours (McKenna and Co.) 46 Oroua Street, 2.30 p.m.—Sale of furniture (E. Johnston and Co.) Lower Taranaki Street, 10.30 a.m.—Sale of outfit of Kapai Cake Kitchen (Silverstone and Co.) TO-MORROW. 84 Pretoria Street, Lower Hutt, 2.30 p.m. —Sale of property and two sections (H. Ernest Leighton, Ltd.)

WOOL MARKET WELLINGTON SALE “PROMPT” YESTERDAY Yesterday was “prompt” day in respect of the wool disposed of at the first wool sale held at Wellington on November 14; and the local brokers’ oflices sent out “wool cheques” to growers who disposed of their clips on that occasion. Although the official figures are not yet available, it is estimated that the total amount distributed among growers is between £llo,001) and £120,000. Analyses of the .sales of representative clips made bv two firms are of interest as indicating'the realisations to growers. Dalgety and Company, Ltd., offered 1447 bales, of which 1303 bales were sold, the average realisations being as follow: — Average Average per bale per lb. £ s. d. d. Merino 16 10 0 13 Ilnlfbred 12 12 1 11 Lambs 11 19 7 11 Crossbred 16 S 9 Hi All round 16 2 11 Hi Murray, Roberts and C 0.,, Ltd., offered 965 bales, of which 818 bales were sold at- an average price of £l7/16/- per bale and 11.52 d. per lb. Fleeces averaged 12.5 d. per lb., and bellies and pieces 8.2 d. per lb. LONDON WOOL SALES PRICES FIRM London, November 27. Offerings at to-day’s wool sales were 7993 bales, of which 2628 were New Zealand. There were good selections of greasy merinos and scoured merinos, but a poor selection of New Zealand crossbreds. The market has a good tone, with strong competition. Prices keep firm. SYDNEY WOOL SALES GOOD COMPETITION . (Rec. November 28, 9.30' p.m.) Sydney, November 28. At the wool sales to-day 8072 bales were sold. There was a strong inquiry for skirtings and good general competition for other lines. Greasy merino made 19Jd. FRUIT AND VEGETABLES WELLINGTON MARKET PRICES Strawberries, cherries, plums and tomatoes are coming on the local market in increasing quantities. Market Gardeners, Ltd., of Wellington, report that Fiji bananas met a poor market yesterday, values being lower. They quote values of fruit and vegetables sold at their market yesterday as follow:— Fruit.—Fiji bananas, 20/- to 24/- per case; Dougherty apples, 12/6 to 14/- per case; gooseberries, 7/- to 9/- per box; Hutt hothouse tomatoes, lid. to 1/2 per lb.; Auckland hothouse tomatoes, lid. to 1/per lb.; Feilding strawberries, 1/8 per chip; local lemons, 20/- to 23/- per case; dessert pears, 9/9 case; plums, 7/- per box; Grey town cherries, 12/- to 15/6 box. Vegetables.—Southern potatoes, 3/- to 5/- per sack; lettuce, 1/- to 3/6 per case; new potatoes, 6/- bag; cabbage, 2/9 to 5/- per case; spinach, Gd. to 5/10 case; broad beans, 7/- to 7/6 case; swedes, 6/to 8/8 case; cauliflower, 4/- to. 5/6 per case; green peas, sd. to Gd. per lb.; cauliflower, 9/- to 10/6 sack; spring onions, 1/- to 1/7 bunch; beetroot, lOd. per bunch; carrots, 6d. to 1/5 bunch; rhubarb, 5/- to 9/- per dozen; cucumbers, 4/- to 7/9 dozen. W. Burbidge and Company. Wellington, report values realised in their market during the last week as follow: — Apples. —Sturnier. 10/- to 15/-; Delicious, 15/- to 18/-; Doughertys, 10/- to 14/-; cookers. 10/- to 12/-; Washington Jonathans. 20/- per case. Pears. —P. Barrys, 9/- to 11/-; winter Coles. 13/- to 14/-; Nells, 12/- to 13/- per case. Lemons.—New Zealand-grown, 12/- co 19/- per case; Californian, GO/- per case. Oranges.—Californian, 40/- per case. Grapes.—Californian, 21/- per barrel. Gooseberries, 3d. per lb. Nelson tomatoes, coloured, lid., 1/1 per lb.; red, 1/-. 1/2 per lb. Cherries. —Nelson/ 8/- to 10/-; Christchurch, 10/- to 12/-• per 101 b. boxes. Cherry plums, 6/- half-case. Bronze plums, 4/- to 5/- 121 b. box. Strawberries.—Nelson, 8(1. to lOd.; Auckland, 9d. to 1/4 per punnet. Green peas 4sd. to GJd. per lb. Lettuce, 1/- to 2/- case. New potatoes, Pukekohe.. 5/- to 6/- per 6011). bag. / : .. Asparagus, 1/- per bunch. New laid eggs, 1/3; storekeepers’ lines, 1/2 per dozen. • ■ Separator butter, pats and btilk, 1/2 per. lb. •' ' ' New Zealand walnuts, 9d. per lb. Old potatoes.—Red Dakotas* : £6; Suttons, £7/10/- per ton. Onions. —Victorian Globe. £l3 per ton; Californian, 14/- per bag; 14/6 per crate. Chaff.—G.B.O.’s. £lO per ton. HIDES MARKET MELBOURNE SALE (Rcq. November 28, 9.30 p.m.) Melbourne, November 28. At the hides sales competition was limited. Previous values were obtainable with, at times, a slightly easier tendency. AUSTRALIAN PRODUCE (Rec. November 28, 9.30 p.m.) Sydney, November 28. Wheat. —At country stations, 4/7 per bushel, ex trucks; at Sydney, 5/2. Flour.—£l3 per ton. Pollard. —£9 per ton: bran, £7/10/-. Potatoes.—£lo to £l7 per ton. Onions. —Brown, £l2 per ton; white, £l4/10/- per ton. Maize. —6/-' per bushel. Adelaide, November 28. Wheat. —1/9 to 4-111 per bushel. Flour.—£l2/2/6 per ton. Pollard. — £8 per ton. Oats.—3/3 per bushel. TALLOW MARKET Tallow prices are nominally unchanged is the report dated November 27 received by Dalgety and Co., Ltd., from their head office, London. t PRICE OF GOLD London. November 27. The price of gold is 84/114 per ounce. COAL DISTILLATION The Australian Benzol and Coal Distillation Co. Ltd., witli a capital of £300,600 in 10/- shares, is being floated in Sydney. The objects of the company are the acquisition of a colliery holding from which to mine coal for carbonisation, the erection of a eoal carbonising plant according to the plans of the Illingworth Carbonisation Company, and of benzol recovery, tar distillation, and ammonium sulphate plants, the manufacture of Industrial and domestic smokeless fuel, and the extraction of by-products such as crude and refined oils, fertilisers, etc., and the acquisition of an Interest In the Illingworth Carbonisation Company. The colliery is at Lake Macquarie Heads. Coal will be carbonised by tlie Illingworth process, the first retort having a capacity of 100 tons of coal a day. Ricoal, the solid residue after carbonisation, is a smokeless fuel, specially adapted for domestic use, and other products are fuel oils, tar, benzol for use as power for motor-vehicles, and also for synthetic purposes. Two other products are gas and ammonium sulphate.

DAIRY PRODUCE MARKET DOWNWARD TENDENCY BUYERS HOLDING OFF The New Zealand Loan and Mercantile Agency Company, Limited, have received tlie following advice from their London house dated November 27:—Dairy produce (last week’s figures in parentheses). Butter, New Zealand choicest Halted, new season, 168/- to 170/- per cwt n V c , r cwt); no business. Cheese white, Jo/per cwt. (95/- to 96/-). Cheese, coloured, V2/- to 93/- per cwt. (93/- to 94/-). Market dull, with downward tendency. Messrs. Joseph Nathan and Company, Limited, have received the following report from Messrs. Trengrouse and Radian, Ltd., dated November 26:—New Zealand butter, 172/- per cwt.; New Zealand cheese, white 95/- per cwt., coloured 93/per cwt. Both markets very quiet. i In a cable message dated London, W cdnesday, November 27, Messrs. Nathau and Co., Ltd., are advised by Messrs. Trengrouse and Nathan, Ltd., as lollows: New Zealand flutter weak, nominally 168/per cwt. to 170/- per cwt., buyers bolding off; stored, 164/- per cwt. Market Reviewed. In their review dated Wednesday, Messrs. Joseph Nathan and Co., Ltd., report that the dairy produce market still remains weak, with very little demand. "It was anticipated that the downward trend of the market would be checked ere this, but this fortunate state of affairs has not yet come to pass. There is a total absence of buying for London, although inquiries iiave been received from America for November-December shipment, but we have not heard of much business passing. Factories generally are looking lor 1/4‘j f.0.b., but America Is not interested on this basis. Production is being maintained and the warm rains now being experienced should relieve any immediate anxiety, and the feed will benefit accordingly. Reports to hand from our Auckland representative who has just completed a tour of the northern factories states that after three weeks of more or less continued rain the pastures are looking particularly well, and all factories were showing from 10 per cent, to 15 per cent, increase over last year's figures, so indications point to a further record production for this season." The report remarks that it will be noted that the premium of 2/- to 3/- is still being maintained for white cheese, and those factories who took advice to make three-quarters white should be congratulating themselves. There was no quotation for white cheesy on November 21, Messrs. Trengrouse and Nathan reporting that the market had been cleared of stocks. The approximate equivalent f.o.b. value for butter on Tuesday’s London quotations is 1/41, and white cheese 8 4-5(1., coloured cheese BJd. Reports received from Australia are as follow:—New South Wales: Production is steadily increasing, and at present is about 25 per cent, higher than same period last year. Indications point to a very satisfactory season. There Is a steady demand at 198/6 per cwt. Victoria: Supplies improving and prospects good. Quotations now 191/4 per cwt. Queensland: Further rains are needed to maintain the recent increase. Local market unchanged at 214/8 per cwt. Mr. Goodfellow’s Report. In his monthly report to shareholders. Mr. W. Goodfellow, managing director of Amalgamated Dairies Ltd., states that the excellent rainfall throughout the dairying districts of Australia, and a large increase in the butter production already recorded in New Zealand, had weakened forward values, and London c.l.f. buyers were not operating. No doubt the heavy losses of recent years, the prospective lower values, and the uncertainty of the financial outlook, had had a strong restraining influence. The London market would probably be fairly satisfactory until the end of the year, but from January onward lower prices were anticipated. F. 0.8. operators had been very inactive, the small amount of business passing being limited to Canada. The cheese market had held fairly steady, although at prices considerably lower than were obtaining in October last year. The Dominion gradings showed a decrease of 1500 tons for the three months to October 31 compared with the coresponding period of list year. There had been absence of interest in early and forward shipments, although isolated sales had been put through at 8 5-Bd. and BJd. for outputs to the end of December, and BJd. for the whole season. Stocks were heavy, but with a shrinkage in exports from Canada and New Zealand, and a reduction in file make of English cheese the forward position of the cheese market appeared to be reasonably sound. LIVE STOCK MARKET WANGANUI VALUES Dominion Special Service. Wanganui, November 28. At their Wanganui sale to-day, Freeman R. Jackson and Co. had a fair entry in all sections. Prices realised were on a par with recent sales with competition a little better in the cattle section. Cattle yarded were very mixed as regards quality, and when this is taken into consideration sales realised must be regarded as quite satisfactory. Sheep.—Prime wethers, 26/-; fat twotooth b.f., 23/- to 25/(5; prime ewes, 20/1; fat ewes, 18/8; fat lambs, 22/- to 25/-; store wethers, 22/7 to 23/4; woolly store ewes, IS/9: store ewes'. 14/4. Cattle.—Fat cows, £B/2/6 to £9/5/-; .light ditto. £7/2/6 to £7/10/-; forward cows, £5/12/6 to £6; store cows, £3/13/to £5; three-year steers, £7/18/-; twoyear steers, £5/6/-; yearling steers, £4/16/- to £5/12/6; Holstein yearling heifers, £4/10/-: Jersey yearling heifers, £4/6/- to £4/15/-; bulls, £5, £6/5/-, to £7/17/6; dairy cows. £7/10/- to £B/10/-; springing heifers, £B/10/- to £9/10/-. MARTINBOROUGH ' SHEEP Dominion Special Service. Masterton. November 28. At their fortnightly sale at Martinborough to-day, the Wairarapa Farmers' Cooperative Association Ltd. offered a good yarding of sheep, mostly hoggets, to a fair attendance. There was a good demand right througli the sale, and a total clearance was made at prices well up.to recent sales. Sales were as follow:—153 ewe hoggets, 29/10; 143 do., 29/2; 309 wether hoggets, 25/1; 86 small do., 22/4; 152 b.f. hoggets, 24/-; 67 small two-tooth wethers, 20/9; seven fat shorn ewes and wethers, 24/2; three woolly wethers, 27/6. MARTON PRICES At their Marton sale on Tuesday, Abraham and Williams, Limited, had a small yarding of sheep and a medium yarding of cattle and pigs at this saje. Bidding was included to drag, especially in the cattle section, and a few pens were passed. Pigs sold well. Prices were as follow:— Fat ewes, 19/3; store cows. £2 to £3/10/-; forward cows, £5/5/- to £5/12/6; fat cows, £6/15/-; springing cows, £9; yearling bulls. £3/2/6 to £4; two-year bulls, £4/10/- to £6/5/-; weaner pigs. 9/6, 13/6, 15/6, 18/-, 20/-, 21/-, 22/6, to 23/6. ASHHURST SALE At Ashhurst on Wednesday the yarding of sheep offered by Abraham and Williams Limited was not large, but the cattle pens were well filled. All classes of stock met with a good demand, and we report a total clearance of tlie yards at satisfactory prices. Prices were as follow;—Woolly hoggets, 28/7; springing heifers, £5/10/- to £ll/5/-; springing cows. £7/10/- to £9/2/6; cows in calf, £4/5/-, £5/10/-, to £6/7/6; yearling heifers, £4/18/6; yearling steers, £4/4/- to £5/12/6: store cows, £3/18/6; forward cows, £4/8/-, £4/12/to £5; fat cows, £6/10/-. £6/17/6, £7/5/-, to £B/17/0; fat heifers, £5/5/- to £5/7/0; bulls, £5, £6/10/-, £7/10/-, to £lO/7/0; mare broken to all worfl, £23. BASIC SLAG CARGOES According to tlie Sydney "Shipping List” the steamer Mamllius (ex Zealandic) will lease Antwerp next month with a cargo of basic slag for New Zealand. She will be followed by the Otira in January and the Raranga during February.

change yesterday were as follow: I— N.Z. GOVT. LOANS— Buyers. Sellers. £ s. d. £ s. d. 5} p.e. Ins. Stic., 1941 100 0 0 —- 44 p.c. Ins. Stic, and Bonds. 1938 100 0 0 _■ 51 p.c. ditto. 1938 ... 101 10 0 — DEBENTURES— Well. Racing Club .. 107 0 0 —— N.Z. Breweries (bonds) 18 3 — BANKS— Australasia 13 13 6 — Australian Bank of Commerce ........ ■1 , 1 11 3 Commercial of Aust. (ord-) ■ 1 7 6 English, Scottish, and Australian 7 12 0 ■..in National of Australasia (£5) ■■ 48 12 0 New South Wales ... .— 47 15 0 New Zealand 2 19 9 3 0 3 Ditto (long term) ... 18 2 - Union of Australia .. — 14 5 0 FINANCIAL— Abraham and Williams (pref, and ord.) ... —— 4 10 0 Goldsbrough Mort .. — 12 , 1 Ditto (rights) — 0 8 0 N.Z. Guarantee Corp. 0 8 4 . ~ I. Well. Trust and Loan 7 2 6 — Well. Deposit & Mortg. 0 10 0 — GAS— Wellington (ord.) — 1 12 9 Ditto (pref.) 0 18 7 — INSURANCE— National 0 15 9 New Zealand 2 5 G South British 3 4 0 —— MEAT PRESERVING— ■ 2 3 9 N.Z. Refrigerat. (£1) —. 0 12 9 Ditto (10s.) ... — • 0 5 9 TRANSPORT— lluddart. Parker (ord.; ) — o 2 9 P. and O. def. stock.. —— ♦2 16 0 WOOLLENKaiapoi (ord.) . 0 13 0 Wellington (ord.) .... —— 6 10 0 Ditto (pref|) 6 9 0 6 11 0 CO Air— Waipa - 0 15 0 TIMBER— - *0 18 0 Leyland-O'Brien ..... — 11 9 6 National —— 0 9 6 BREWERIES— Staples and Co — 2 13 9 MISCELLANEOUS— Burns. Philp, and Co. 2 0 0 —— British Tobacco (Aust.), - 2 5 0 Colonial Sugar — 50 10 0 Electro. Zine (pref.) . 1 15 6 Kirkcaldie and Stains (pref.) — 1 0 0 N.Z. Drug 3 15 0 Scoullar Co ..... 10 0 Sliarland & Co. (pref.) 1 0 9t • — U airarapa Farmers’ (ord.) ............. 0 3 3 — Wellington Cordage . 0 14 0 Well. Queen’s Theatre *13 0 — Wilson’s (,'oment — 42 2 0 MINING— - ♦2 2 6 ♦Cum. dividend. fEx dividend. , ?Ex ? rights. • DIVIDEND LIST Company. ' Per cent. Period Payable N.Z. Paper Mills . 3} Half-year To-day Australian Glass . 5 Half-year Dec. 1 P. and O. def. stk. 7 Half-year Dec. Henry Jones Co-op. 64 Half-year Dee. D N.Z. Breweries ’74 - Half-year Dec. 9 Wellington Queen’s Theatre 10 Year Dec. 3 N.Z. Loan and Mercantile 5 Half-year Dec. (J Kauri Timber ... 3 Half-year Dec. 13 Mount Lyell .... 13} Half-year Dec. is

' 1 The following sales were reported on the Stock Exchanges of the Dominion yesterday:— WELLINGTON. £ s. d. 18 3 New Zealand Breweries (bonds) . Waihi Mining 0 12 10 AUCKLAND. N.Z. Insurance £ s. d. . 2 G 0 Commercial Bank of Australia . .17 2 Mount Lyell .223 CHRISTCHURCH. £ s. d Commercial Bank .of Australia (3) 17 1 Goldsbrough Mort, ex rights .. Goldsbrough Mort, “rights” .... 2 0 9 0 7 9 N.Z. Breweries, cum div 4 7 11 Electrolytic Zinc, ordinary (2) 1 13 9 .Mount Lyell, cum div. (2) 2 16 Mount Lyell, cum div. (2) 2 14 Mount Lyell, cum div 2 12 Sales. reported:— 8 16 0 National Bank of N.Z. National Bank of N.Z 6 16 6 Staples’ Brewery 2 13 0 Commercial Bank of Australia 17 2 Goldsbrough Mort, ex rights (2) 2 0 G Electrolytic Zine, ordinary .... 1 14 0 Mount Lyell, cum div 2 16 DUNEDIN. £ s. d. Kildare ..... 0 19