FINANCE AND COMMERCE.

Dominion, Volume 23, Issue 169, 12 April 1930, Page 14

FINANCE AND COMMERCE.

STOCKS AND SHARES WELLINGTON EXCHANGE A FIRM MARKET A larger volume of business was recorded yesterday than for some time past. Sixteen sales were reported on the Wellington Stock Exchange, banks, financial and insurance shares being those principally traded. There was a good general demand, and sellers exhibited considerable activity. Prices in most cases showed firmness. Government- stocks and bonds'were in keen demand, the 1930 and 11)38 being 2/6 up at £l)7/10/-; 51 per cent. Stocks (1033) were steady at £OO/5/-, and Bonds at £99/7/6. The 5} per cent. Stocks and Bonds (1036) were in demand at,.£99. , ,• , The demand for bank shares slackened although there- were several sales at full prices.- Bank of Australasia at £l2/5/wete 5/- higher; Commercial Bank were steady at 21/11, with sales at 22/1, National Bank of New Zealand were 2/6 up at £6/2/6 Bank of New South Wales were steady at £39. Bank of New Zealand long term were in lirm demand at 26/-. Goldsbrough and Co. were 6d. down at 30/6. New Zealand and River Plate were wanted at 28/6, with sales at 29/-. Wellington Deposit at 10/3 were up 6d. Insurance shares were in good demand. National Insurance were up 3d. at 14/3. New Zealand Insurance were steady at 43/9 and South British Insurance were 6d. better at 61/6, with sales at 62/3. Wellington Meat Export were up 6d. at 7/6. Kaiapol Woollen ordinary were wanted at 11/and Kauri Timber at 12/6. Gas shares were steady; Christchurch Gas at 25/9 and Wellington Gas at 30/-. Huddart, Parker at 37/6. were up 3d. Crown Brewery were ’steady at 8/6, but . New Zealand Breweries wtfite 1/9 higher at 51/6. Staples and Co. were in demand at 48/-. Burns, Philp and Co., were 4d. down at 36/5, but British Tobacco were slightly better at 40/3. .Wilson’s Cement were 2d. better at 38/10. YESTERDAY’S QUOTATIONS Buying and selling quotations at the final call yesterday on the Wellington Stock Exchange were as follow:—

I GOVERNMENT STOCKS f. ’ London, April 10. t Quotations of Government stocks to-dav ‘ compared with those of April 3, are as

CHRYSLER SHARES ' * According to the latest American stock market quotations Chrysler shares 1 have risen in value phenomenally. Four months ago Chrysler stock stood at 26. Since that time, the price has risen to 41|. This information is dated March 1. and cablegrams since then announce a further general appreciation of industrials, so probably today’s actual quotation is in excess even of 41$. This remarkable appreciation Indicates the public estimation of the Chrysler Company’s worth—not only of Its assets and its earning power, but also of its standing as producers of automobiles. AUCTION SALES TO-DAY. 60 King’s Road, Lower Hutt, 2.30 p.m.— : Sale of Modern Home (11. Ernest Leighton). ’ MONDAY. The Farm, Horokiwl, 1 p.m.—Sale of Dairy Stock and Plant (W. S. & Co., Ltd.). TUESDAY. Dominion Farmers' Institute Buildings, 2.30 p.m.—Sale by Mortgagee of Property (Longmore & Co.). *Hlvermead,” Lower Hutt, 1 p.m.—Clearance Sale, Jersey Cows, Heifers, etc. (11. E. Leighton, Ltd.), Booms. 105 Customhouse Quay, 2.30 p.m.— Sale Furnished Residence. Paraparaumu Beach (S. G. Nathan & Co.). Jtoniewood Avenue, Karori. 11 a.m.—Sale two Properties (S. G. Nathan & Co.). ijalmaonvllle, 1 p.m. —Fat Stock Sale Co, Lid. indL&X JALk

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

DUNEDIN. Sales reported— £ s. d, N.Z. Breweries’ shares 2 13 0 E.S. & A. DIVIDEND The half-yearly interim dividend of the English. Scottish and Australian Bank will be payable on May 1. The books will close on April 23. The rate of the dividend has not yet been announced. The last annual dividend and bonus totalled 12} per cent.

SHEEPSKINS AND HIDES WELLINGTON SALE ‘ / Some good lines of hides and sheepskins were sold at the fortnightly sale yesterday. Dry sheepskins were firmer and there was also a firming in heavy and medium weight hides. Dalgety and Co., Ltd., report that there was an excellent demand for dry sheepskins, prices being on the average Id. to Jd. per lb. better than previous quoted rates. Inferior, seedy and damaged descriptions sold about par. Salted skins sold well up to late rates. An Improved demand was met with for hides, and values were firmly maintained on the heavy and medium weights. Lightweights showed a drop of from l-Bd. to id. per lb. Kip and yearlings came in for particular attention, prices being firm, while calf met a weaker market, a decline, of id. to Id. being recorded. Some good lines of butchers’ hides were keenly competed for. The tallow market was firm at late rates for all except low grades, which were 1/- to 1/6 per cwt. lower. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., report that competition for sheepskins was keen, and in sympathy with the recent wool sales,' prices were firmer, dry skins being about id. to Id. higher than last sale. Salted skins showed no change. Hides met with good comnttition. medium ox hides being about l-Bd. per pound lower, heavies showing no change. Cow hides were about l-Bd. per pound lower. Calfskins were not in demand, prices being about Id. per pound lower than last sale. Tallow showed no change.

A large catalogue offered by Murray, Roberts and Co., Ltd., met sound competition from tanners and shippers. Prices for ox hides were very flrm, with occasionally a slight advance in heavy ox hides: medium -weights were l-Bd. easier, and lightweight ox from l-Bd. to Id. cheaper than vast sale. Cow hides were l-Bd. easier for super lots, and average country butchers’ lots up to 3-Bd. lower. Yearling and kip sold at about par. lightweight being a trifle easier, and mediums slightly better. Calfskins showed a decline of about id. per lb. Levin and Co.. Ltd., report that heavy and medium hides were on a par with last sale-rates. Lights were l-Bd. to id. lower, kip and yearling on a par. and calf Id. to Id. lower. Dryskins were id. to id. higher and salted skins on a par with last sale rate. Tallow sold at late rates. The range of prices was as follows.— Dry Sheepskins.—Halfbred, B}d. to Bjd.; fine crossbred. 7id. to B}d.; medium crossbred. “id. to 7}d,; coarse crossbred, fid. to 7id.: halt-wools, fijd. to 7d.; quarterwools. fi}d. to 7d.: pelts. sd. to 7id. Salted Skins.—Pelts. 1/- to 2/7: quarterwools, 2/fi to 3/9: half-wools. ■ 2/7 to 4/5; three-quarter-wools. 4/9: full-wools, 7/5: extra large, —: lambs, 1/6 to 3/1. Hides.—Ox. 33-441 b., 5Jd.; ox. 45-521 b„ s}d. to Bid.: ox. 53-5911)., 5 l-Bd. to GJd.: ox. CO-fifllb.. fid. to 7d.: ox. 701 b. and over, o}d. to 7 l-Bd.: cow. 33-391 b.. 4 l-Bd. to 5 3-Bd.: cow. 40-481 b.. 4d. to 5 5-Bd.: cow. 491 b. and over. 4}d. to 5 3-Bd.; kip. 25-3211).. 4 5-Bd. to C l-Bd.: kip. 17-241 b„ 4Jd. to B*d.: yearling. 11-lfilb.. sd. to 8 5-Bd.: calf, 9-101 b„ sd. to 8 5-Bd.: calf. 0-81 b„ s}d. to 121 d.: calf. l-51b„ s}d. to 12d. Tallow.—ln tins, etc., 12/- to 25/6 per cwt. Sundries.—Horse hair. ISJd.; cow. tails, 14d. to 14)d. THE WOOL MARKET THIS YEAR AND LAST In their report on Thursday’s wool sale at Wellington. Dalgety and Co., Ltd., commenting on the strong French and German competition, remark . that: "Home buyeis appeared to be puzzled by the strong Continental demand, and were generally unable to stretch their limits to compete with those held by German and Frerch competitors.” Compared with prices nt the March 21 sale, the report quotes /ill qualities of crossbred fleece at Id. to lid., pieces Id. to IJd., seedy inferior and medium lambs Id. to lid., all higher, with super lambs par to at times in se’lers’ favour. Dalgety and Co.. Ltd., give an interesting comparison of prices ruling at the final sale on March 20. 1929, .when 34,700 bales were offered, and those obtained at Thursday’s sale, when only 5900 bales were

They point out that the sheepfarmers’ receipts are practically 50 per cent. less. Recent sales in New Zealand and London Indicate that the lowest point has been reached. “The present position is still obscure and the outlook for any sharp appreciation is not reassuring. A heavyweight of New Zealand wools is being carried over till next season, and unless some unlooked-for impetus is given to the textile trade these old wools are likely to have a depressing affect on the oy-acilug DElm* Um> IAJO-JJ.

THE MONEY MARKET BANK OF ENGLAND RETURN GOLD RESERVE HIGHER (Rec. April 11. 5.5 p.m.) London, April 10. The Bank of England return tor the week ended April 9 is as follows;—

■(April 10, 1929,’ £155.482.700. 1930, maximum, April 9, £160,781,-178; minimum, January 1, £146,115,719. Short Loans and Bills. The Bank of England rate of discount is 31-per cent., to which it was reduced on March 20 from 4 per cent. Short loans are quoted at 2} per cent., unchanged- on last week. The market rate of discount for best three months bills is 2 15-32 per cent., as against 2 11-32 per cent, last week. METALS MARKET LONDON QUOTATIONS (Rec. April 11, 7.30 p.m.) London, April 10. Metal Exchange quotations are as follows, those previously cabled being given

BRADFORD TOPS MARKET VERY FIRM (Rec. April 11, 5.5 p.m.) London, April 10. The Bradford tops market is very firm, but business is restricts owing to labour trouble. Quotations compare as follow

LIVE STOCK MARKET FEILDING VALUES Dominion Special Service. Feihling, April 11. There was a very small yarding at the stock sale to-day, farmers having little to offer at this season of the year. Prices were about on a par with late rates, though most lines were hard to quit. Fat Lambs.—Good, 24/-; medium, 19/3; fat ewes, 15/- to 17/-; fat b. f., 24/10 to 25/-; fat wethers, good, 27/-; medium, 24/- to 25/1; fat 2-tooths, 23/3. Stores.—Breeding ewes, mixed ages, 15/6 to 16/2; small lambs, 10/3; 2-tooth wethers, small, 17/3; better quality to 22/2; forward ewes, 11/-; 4 and 6-tootb and 4-ycar-ewes, r.w. Southdown rams, 22/1. Fat bullock's, £9/10/-; fat cows, light, £6/5/- to £6/12/6; better weights, £7/2/6 to £7/17/6; small Jersey bulls, £5; heavier, £7/17/0; forward cows, £4/5; store cows. £3/15/- to £3/16/-. Odd lines of dairy cows sold at prices that were no Indication of their market value. CARTERTON VALUES Dominion Special Service. Masterton, April 11. At to-day’s Carterton sale Dalgety and Company offered a medium entry of sheep and cattle, and a full yarding of pigs. Values were on a par with recent sales. Following,, is the igjnge of prices:—Pige: to 11/6; slips, 15/- to 10/6; porkers, > 46/- to 52/-; choppers, £3/9/-; small b.f. lambs, 5/9 to 9/3; small m.s. w.f. lambs, 6/3 to 8/6: dairy cow on drop, £l2; fat dairy cows, £6/3/-: forward cows. £4 7/6 The Walrarapa Farmers’ Co-operative Association, Ltd., offered medium yardings of sheep and cattle, and a heavy yarding of nigs. The demand for all lots was good. Quotations: Forward dairy cows. £5 to £6/2/6; store cows. £2/15/- to £4 10/-; small weaner dairy heifers, 33/- to £2; potter bulls, £4/5/- to £7/10/-; empty forward ewes. 11/-: heavy baconers. £3/4/to £3/10/-; good porkers. 36/- to £2/11/-; light porkers, 31/- to 35/-; slips, 22/6 to 27/6: good wcaners, 12/- to 16/-; small weaners, 8/- to 11/-. GUARANTEES OF STOCKS Dominion Special Service. New Plymouth, April 11. The provision of guarantees of stock at sales is sought in Taranaki, and the following recommendations will be considered at a meeting of farmers and auctioneers early in. May:—That all herds of dairy cows sold should lie guaranteed as herds which the vendor milked last season, and every cow should carry a guarantee of soundness and the date of calving. Where calving dates are guaranteed the vendor shall be guaranteed in writing, and cows before any nenalty Is enforceable. At a public auction of individual cows sold In the yards, the vendor’s name shall be announced when the cow is put up. All cows shall be guarantee din writing, and cows of a certain value only shall be guaranteed. This applied to cows sold at store prices, or only a slight advance on the rates ruling for stores. The conditiqns of sale of sheep and horses are considered | satisfactory. CUSTOMS REVENUE. , The Customs revenue collected at the

FROZEN MEAT TRADE SMTTHFIELD MARKET MUTTON & lAMB WEAKER The market for mutton and lamb is weaker, according to a report dated April 10, received by Dalgety and Co., Ltd., from their head office, London, as follows: — Lamb.—N.Z. prime Canterbury, 28/3flib., B}d.; North Island, 28/361b„ Bd.; Canterbury, 36/421b„ 7Jd.; North Island, 36/4211)., 7}d.; Canterbury lamb, 42/501b., 7d.; North Island, 42/5011)., 6 7-Bd.: seconds, over 30 lb., 7}d., under 301 b. Bd. Market weaker; demand runs principally on light weights. Mutton.—Prime Canterbury, 48/5611)., 5 7-Bd.; North Island, 48/561b., 55d.; Canterbury, SC/641b., 5 5-Bd.; North Island, 56/641b,, 5Jd.; Canterbury, 64/7211)., 5 l-Bd.; North Island, 64/721b., 5d.; Canterbury ewes. 48/641:b., 4}d.; North Island, 48/641b., 4 3-Bd. Market weaker; demand not Improved by change in prices. Australian Lamb.—G.a.q., 28/301b., 7Jd. Market weaker; demand limited. Australian Mutton.—G.a.q., 40/601b., s}d.; f.a.q., 30/551b., sd. Market weaker; demand poor. Beef.—N.Z. prime ox beef, hinds 6d., fores 4}d.; Argentine chilled hinds 7 l-Bd., fores 4 l-Bd. Market for New Zealand beef firm; demand better. Pork.—English porkers, 80/1001b., lid.; N.Z. porkers, 80/1001b. 10d„ 100/1201b. 9d. Market for New Zealand pork weaker; demand poor owing to warm weather. Best light weight lambs, no change; best heavy weight lambs, 3-Bd. to }d. lower; ordinary North Island lambs, id. lower; wethers, }<l. lower; ewes, l-Bd. to id. lower; beef, no change. The above report was received yesteray by M. A. Eliott. Ltd., Palmerston North, from Gordon Woodrofte and Co., Ltd., London, who quote Smithfield "delivered" prices as follow:— Best North Island prime lambs: Under 361 b.. 81d.; 361 b. to 421 b„ 7 7-Bd.; 421 b. to 501 b., 7}d. Ordinary North Island lambs. Under 421 b.. 7 7-Bd.: second quality, under 421 b., B}d. Best No.rth Island wethers and/ or maiden ewes: 481 b. to 561 b., s}d.; 561 b. to 641 b,, s}d.; 641 b. to 721 b., 5d.: over 721 b., sd. Ordinary North Island wethers and/or maiden ewes: 481 b. to 561ib„ 5 5-Bd.; 561 b. to 641 b., 5 5-Bd.; 611 b. to 721 b„ 4 7-Bd.: over 721 b., 4 7-Sd. North Island ewes: Under G4lb., 4 3-Bd.; 641 b. to 721b u 4d.; over 721 b.. 4d. New Zealand prime ox beef (equal fores and hinds): 160 lb. to 2201 b., s}d. DAIRY PRODUCE MARKET STEADIER London, April 10. Butter is in better demand at the lower price level. Traders are now filling their Easter requirements. ■ Some of the multiple shops are retailing New Zealand butter at 1/2 per lb. The cheese market is dull. New Zealand, 71/- to 73/-:; Australian, about 70/-. (Rec. April 11, 7 p.m.) London. April 10. The Australian and New Zealand Produce Board announces that Importers have decided to sell best Australian and New Zealand butter at 118/- to 122/- per cwt. A S. Paterson and Co., Ltd., Wellington, report having received cable advice, dated April 10, from J. and J. Lonsdale and Co., Ltd., London, as follows:—Butter: More inquiry, market firmer. New Zealand, 120/-122/-; Danish, 138/-; Australian, 118/120/-. Cheese: Better inquiry at lower prices; tendency firmer. White, 70/-72/-; coloured, 72/-74/-. Dalgety and Company, Limited, have received the following market advice from their head office, London, dated April 10:— Samuel Page and Son report—Butter: Market slightly steadier. Danish, 136/- to 138/- (140/- to 144/-); New Zealand finest salted, 120/- to 122/- (126/- to 128/-); Australian finest unsalted, 120/- to 122/- (124/to 126/-); finest salted, 116/- to 118/- (124/to 126/-); Australian, g.a.q., 112/- to 114/(118/- to 122/-). Cheese: Market slightly steadier. New Zealand cheese, white, 70/to 72/- (77/- to 78/-); coloured, 72/- to 74/(78/- to 79/-); spot price for Canadian, white, 94/- to 89/- (96/- to 98/-); coloured, 94/- to 98/- (96/- to 98/-). (Last week’s quotations shown in parentheses.) Mr. G. A. Mills lias received from A. J. Mills and Co., Ltd., a cable message giving the following market prices for butter and cheese as at close of business on Thursday, April 10 (last week’s prices shown in parentheses):—Butter: The market is steadier. New Zealand finest, 120/-122/-(126/-12S/-); first, 116/-118/- (122/-124/-); Danish, 136/-138/- (142/-144/-); Australian, 114/-118/- (122/-126/-). Cheese: The market Is firm. New Zealand, white, 71/-72/-(77/-7S/-); coloured, 72/-73/- (7S/-79/-). LONDON APPLE MARKET RANGITANE’S N.Z. CHEAPER London, April 10. Owing to the arrival of several Australian cargoes, the Rangitane’s shipment of New Zealand apples are selling cheaper than on Monday. Cox’s Orange, 18/- to 22/-; Dunns and Worcesters, 12/- to 14/-; Gravensteins, 10/- to 12/- per case. N.Z. UNIONS IN CANADA Vancouver, April 11. The arrival of 2600 sacks of Now Zealaud onions threaten to send prices tumbling, since British Columbia growers have been holding 75 carloads in. cold storage, awaiting the end of the United States surplus, New Zealand onions are admitted free.

Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 4J p.c. Ins. Stk., 1939 and 1938 97 10 0 — 5J p.c. ditto, 1933 ... 99 5 0 — 5J p.c. Ins. Stk. and Bonds, 1936 99 0 0 —— 51 p.c. Ins. Stk.. 19+1 1— / 97 0 0 4+ p.c. Bonds,'19+1. 1939 97 10 0 —— 4+ p.c. ditto, 1938 ... 97 12 fl 41 p.c. ditto, 1930 ... 99 0 0 —— 5j p.c. ditto. 1933 ... 99 7 6 - ■ DEBENTURES— Golden Hay Cement . 0 15 0 —— Gisborne S. Farmers.. —• 96 0 0 BANKS— -—* . 7 ’7 0 Australasia' 12 5 0 fl2 11 6 Australian -Bank of ■ ■■ 15 3 Commercial of Aust. 1 1 11 -- - English. Scottish and 6 18 0 National of N.Z 6 2 6 National of Australasia • 15 4 0 j Ditto (£5) 7 10 0 f New South Wales .... 39 0 0 39 10 0 1. New Zealand — 3'00 3 Ditto (long term) .... 16 0 —— Union of Australia — 12 1 0 « Ditto (Melbourne re- —- ■ 12 1 6 t FINANCIAL— .' Goldsbrough Mort ... 1 10 6 1 11 3 N.Z. and River Plate.. 18 6 — Well. Invest., T. &, A. 0 11 3 » Well. Trust and Loan 7 4 0 t Well. Deposit & Mortg. 0 10 3 0 10 6 r. GAS— > Christchurch 15 9 16 4 ’ Wellington (ord.) ... 1 11) 0 , Ditto (pref.) 0 17 2 —— 1 INSURANCE— 0 14 3 - • New Zealand 2 3 9 — 3 16 ■,, ■ MEAT PRESERVING— .■? Well. Meat Exp. (ord.) 0 7 6 — -. N.Z. Refrigerat. (10/-) — 0 5 3 J TRANSPORT— ■> Huddart, Parker (ord.) 1 17 6 2 0 0 P. and 0. def. stock .. 2 15 6 WOOLLEN— Kaiapoi (ord.) 0 11 0 — „ 'Wellington (ord.) ... — 6 0 0 Ditto (pref.) — 6 3 0 , COAL— ; Waipa ...o.«•••••••« •0 13 6 * TIMBER— ji 11 t* i 0 12 6 —— . . Lcyland-O’Brien .... 1 10 0 t; National — 0 9 0 BREWERIES— Crown 0 8 6 -■ - < New Zealand 2 11 6 — Staples and Co 2 8 0 — * MISCELLANEOUS— V ’ Burns, Philp and Co. 1 16 5 1 1G fl . Aust. Iron and Steel ■ *0 19 9 ; British Tobacco (Aust.) f (ord.) 2 0 3 2 0 fl 42 15 0 ' Dental and Medical . 0 13 6 » Electro. Zinc (pref.) — 1 8 0 1 Holden’s Motor Bldrs. —— 0 15 0 i Howard Smith (ord.) —— 0 17 6 * N.Z Drug t3 9 3 ! N.Z' Farmers’ Fer0 19 0 j Sharland & Co. (ord.) 1 0 « ( 'Wilson’s Cement 1 IS 10 1 19 0 » MINING— • Mount Lyell —— 1 15 0 Wnihi 0 13 8 — ; *Cum. dividend. 'i'Ex dividend.

follow:— • Price. Variation. £ s. <1. £ s. <1. Consols, 25 p.c 56 w 6 0 7 6* Fund Loan, 5, 1929-47 .91 JJ 0 Same. War Loan, 5, 1929-47 103 0 0 0 2 6* Cun vers. Loan, 3$ p.c. Victory Bonds, 4 p.c 78 o 0 0 12 6* 74 10 0 Same Com-wealth, 5, 1945-75 93 u 0 0 7 6* Com-wealth, 6. 1931-41 loo 2 6 0 5 0» Victoria, 3, 1929-49 .. 68 0 0 0 5 Of Victoria, 31. 1929-49 .. 72 0 0 10 0* Victoria, *5J. 19311-40 97 10 0 Same •Victoria, 5. 1932-42 . 91 17 6 0 5 0* Victoria, 4j, 1940-60 . 87 15 0 Same N.S.W., 4, 1933 94 15 0 0 5 0* N.S.W.. 3, 1935 86 10 0 0 2 6t N.S.W., 3A, 1930-50 .. 71 2 6 0 7 6* N.S.JV., 5j, 1922-32 .. 98 2 6 0 12 G* N.S.W., 61, li/30-40 .. 100 7 6 0 2 6f N.S.W., 0, 1930-40 .. 98 2 6 0 7 b* Q’lahd, 3J, 1930 99 7 6 0 2 6* Q’lanil, 3, 1922-47 .... 67 10 0 1 10 <)• Q'land. 6, 1930-40 .... 91) 15 0 0 5 01 N.Z., 41, 1949-58 .... 94 17 6 0 10 0N.Z., 35, 1940 89 7 6 0 10 ()• N.Z., 3, 1945 79 0 0 Same N.Z.. 6. 1939-51 105 5 0 0 5 0* S. Austr., 35. 1939 .. 83 7 6 0 12 6’ S. Austr., 3, 1916-after 54 10 0 Sarne 8. Austr., 9. 1930-40.. ■00 □ 0 0 10 0* Tasmania, 3 J, 1920-40. S3 0 0 0 15 Of Tasmania, 3. 1920-40 . 80 0 0 10 0* Tasmania, 0. 1930-40 . 101 0 0 0 18 9f IV. Austr., 35. 1929-35 87 0 0 12 6* IV. Austr., 3. 1915-35 86 0 0 0 10 ()• W. Austr., 6. 1930-40100 0 0 ♦ ■ fHigher. •Lower. 0 7 6*

yesterday:— WELLINGTON. £ s. d. Commercial Bank (two) 1 2 1 National Bk. of Australasia, £o pd. 7 10 o Bank of New South Wales 39 o 0 12 0 0 Wellington Trust and Loan ... 7 2 0 10 0 0 14 6 South British Insurance ....... 3 2 3 2 11 6 British Tobacco (three) 2 0 6 1 Hi (1 Mount Lyell (two) 1 14 0 AUCKLAND. £ s. d. Australian Bank ot Commerce .. 15 0 National Bank of Australia, contr. 7 7 0 Bank of New Zealand 2 19 0 12 0 0 South British Insurance (late sale Thursday) 3 2 0 Golflsbrough Mort Do 1 11 4 1 11 0 3 8 0 Auckland Gas (late sale Thursday) . New Zealand Breweries 13 7 2 13 6 Electrolytic Zinc, pref 17 9 Farmers’ Trading 0 8 6 Mount Lyell (late sale Thursday) Do 1 14 9 1 14 6 1 19 10J CHRISTCHURCH. Bank of New Zealand, cum div. 2 19 6 United Building Society 0 14 3 N.Z. Breweries 2 13 0 2 14 0 2 10 0 17 6 British Tobacco (2) 2 0 3 1 19 6} Sales reported— 99 0 0 11 5 0 N.Z Breweries 2 12 3 N.Z. Breweries 2 12 6 Staples’ Brewery 2 10 3 British Tobacco (2} 2 0 3 Mount Lyell 1 14 6 Wilson’s Cement 1 19 10} Nth. Canterbury Hospital Board, 5} p.c., 193'0 99 2 6

ottered, as follows:— 1929. April. 1930. March, d. d. d. d. Super. 48/50 . .... 17J to 19 to 101 Average, 48/50 .... 15J to 17 St to Super. 40/48 . .... 10J to 18 94 to lol Average, 46/48 .... 145 to 10 8 to 91 Super. 44/46 . .... 16 to 17 to 94 Average. 44/46 .... 14 to 15 71 to 9 Super. 40/44 . .... 14S to 10 — to bi Average, 40/44 .... 13J to 14 7i to st Super. 30/40 . .... 13 to 14 81 to 8i Average, 36/40 .... 12i to 131 7 to 8 Lambs— 50/56 .... 16 to 21 8 to 91 46/50 .... 15 to 20 8 to 10J Seedy and inferior 8 to 14 4} to 7 Bellies and pieces (good) .... 10} to 15 5i to 7i Bellies and pieces (average) .... 61 to 3} to o

Issue Department, £ £ Notes issued. Govt, debt 11,015,100 In circuOther Govt. lation 359,250,323 securities 232,087,106 In banking Other sedept. 60,578,916 entities 11,537,677 Silver coin 4,460,027 •£260.000,000 Gold coin & bullion 159,829.230 £410,820,239 £410,829,239 •Amount of fiduciary issue. Banking Department. £ £ Capital 14,553,000 Govt, seRest 3,113,005 curlties 55,861,909 Deposits: DIscts. and Public 15.167,701 advances 6,288,218 Bankers 65,251,317 Other a/c. 36,657,417 Seven-day. Other securities 11,063,311 Notes 60,578,916 Gold and siletc., bills 2.09,3 ver coin 952,239 £134,744,503 £134,744,503 Proportion of reserve to liabilities, 52.50 ner cent., compared with' 50.40 per cent. on April 2, and 45.30 per cent, on April 10 1929. The principal items of the above return compare as follow with those for tne previous week: — April 2. April 9. Deposits: Government .... £ £■ 18,422,477 15,167,701 Bankers 62.833,807 65,251,317 Other accounts .. 37,358,120 36,657,417 £118,614,500 £117,076,435 Securities: Government .... 54.021,909 55.861,909 DIscts. & advances 10.309,940 6,288,218 Other securities . 12.705.900 11,063,311 59.860.036 01,531,155 Note circulation . 1 357,265,456 359,250,323 ICoin and bullion . 157,125,492 160,781,478 ♦Reserve on April 10, 1929, was £53,351.721. __

for purposes of comparison: April 7. April 10. Per ton. Pet £ ton. s. d. £ s. d. Copper—' Standard, spot .... 69 1 6 68 7 6 Standard. forward 67 1 6 67 7 G Electrolytic S3 10 0 83 5 0 to S3 15 0 S3 15 0 Wire-bars Lead— S3 15 0 83 15 0 Spot 18 3 9 18 11 3 18 8 9 18 12 6 Spelter— Spot ..... 17 6 3 18 U IJ Forward Tin— 18 17 6 IS 12 6 Spot 162 6 3 166 5 0 Forward 164 3 9 163 2 6 Silver— Fine, per oz 19 3-8d. 19 11-16d. Standard, per ox. . 2015-16d. 21 Id.

with those previously cabled: — Apl. 10 • - Mar. 20 Per lb. Mar. 27 Apl. Sixty-fours ...... 20} 20 27 28 Sixties 24 24} 2G Flxty-slxes 20 20 20 20} Fifties ... 17 17 17 17} Forty-sixes '15 15 15 15} Forties 14} 14} 14} 15