FINANCE and COMMERCE.

Dominion, Volume 23, Issue 257, 26 July 1930, Page 14

FINANCE and COMMERCE.

STOCKS AND SHARES Wellington Exchange BUSINESS RESTRICTED On the Wellington Stock Exchange yesterday. Government securities were very iirm, and the demand for the 4} per cent, tax-free Stocks and Bonds being keen at £99/10/-, while there was a sale reported at ßauk' / sluires were fairly steady, but the demand was restricted. Australian Bank of Commerce were unchanged at 22/-, but , Commercial Bank of Australia were Id. up at 21/-; Commercial Bank of Sydney were 5/- higher at £ 19/15/-; National Bank of Australasia, £lO paid, were down 2/- at £l4; Bank of New South Wales were unchanged at £35/15/-. Bank of New Zealand were 2d. better at 55/5. In the Financial Section there were no variations on the previous day’s quotations: Wellington Gas were a shade firmer at 30/1; Wellington Woollen ordinary at £5/10/-, and New Zealand Breweries at 49/3 were steady. For Wilson’s Cement SO/- was offered, with sellers at 42/6. British Tobacco were steady at 37/-. Yesterday’s Quotations . Buying and selling quotations at the final call yesterday on the Wellington Stock Exchange were as follow:—

DOMINION INVEST. & BANKING Past Year’s Results Dominion Special Service. Auckland, July 24. The fourth annual report of the Dominion Investment and Banking Association states that the results of the past year indicate increased progress. The thoroughly sound financial position of the association, in spite of the acute commercial depression of recent months, it says, could not but be regarded with satisfaction. After meeting all expenses, the net profit for the year ended June 30 was £12,859 15/10. which, added to £452/16/1 brought forward from last year, made a total of £13,322/11/11. This the directors recommended appropriating as follows:—Payment of a dividend of 7 per cent, on the shares, and the first issue of B and C shares, £11,195/5/9; payment of a dividend on the 6 per cent. B shares second issue and C Shares second issue, £135/13/6; to reserve, £1000; leaving the sum of £991 12/8 to carry forward. Steady progress had been maintained in the banking department, and a surplus of deposits over withdrawals, together with interest credited of £26,808/9/2, brought the total amount to the credit of depositors in the association to £133,364/3/10, compared with £108,555 last year. STERLING EXCHANGES London, July 24. The following rates on foreign exchanges arc current to-day, as compared with the cabled quotations on July 22 aud par:—

I.ondnn. .Tilly 24. Silver.— Spot, 16d. per oz.; forward, 15Jd. per oz. FROZEN MEAT TRADE Smithfield Market Prices X Primo lamb par to l-8d higher; second lamb l-8d loxver; wethers no ew“s l-8d to id. higher; beef id. higher. This report was received yesterday by AL A Eliott Ltd., Palmerston North, from Gordon, Woodrooffe and Ct. Ltd., London, who quote Smithfield ‘delivered Prices ns follow:—Best North Island prime lambs, under 361b5., 8 7-Bd.; 36/4-1b5.,8 5-Bd.; 42/501b5., BJ. Ordinary North Island lambs, under 421b5., 8 3-8(1.; second quality, under 421b5., 7 3-Bd.. Best North Island wethers and/or maiden ewes, 48/aG nnd 56/641b5.„ 4 5-Bd.; 64/72 and over 7lbs., 41d. Ordinary North Island wethers and/or maiden ewes, 48/58 and 56/84 lbs., 4Jd.; 64/72 and over 721bs. 4 l-Bd. North Island ewes, under 611 b. 2 7-Sd.; 64/72 and over 721bs. ,2 5-Bd. New Zealand prime ox beef (equal fores and hinds), 160/2201b5., 4fd. The frozen meat market Is unchanged, according to cable advice received by Dnlgety and Co., Ltd., from their head office, London. AUCTION SALES TO-DAY. •t Cargill Road, Karori, 1.30 p.m.—Sale furniture., etc, account Mr. Treseder (I. Silverston and Co.). 187 Vivian Street, 1.30 p.m.—Sale of furniture, etc. (C. W. Price.) MONDAY. Haonv Valley, Brooklyn, 1 p.m.—UureservH ed clearing sale dairy stock, account ,T. E. Lowndes (N.Z. L. and M.A. Co., t Williston Street.—l.3o O™** Drink plant (E. Johnston & Co.) TUESDAY. o „ 8 Williston Street, 10.30 n.m.—Sale of unclaimed goods (K. Johnston « lxm Sain.

DEALINGS ON ’CHANGE

Yesterday’s Business RETURN ON INVESTMENTS The following sales were recorded on the Stock Exchanges of the Dominion yesterday. The first column gives the price at which > the sales were made. In the second column is given the return, based on the last dividend, from investment at the quoted price. In, the case of Government and other redeemable securities, the return includes redemption:—

COMPANY AFFAIRS Recent Registrations Registration of the.following, panies is reported by the mercantile G N’Z. t °G : rlpe Fruit Co., Ltd Auckland; KM’S. X. R. W. Thomas 490, G. K. urn xu. Dealers in grape fruit, etc. . Mclntyre's Clyde Iron Works, Auckland; private company. . £2700, in 2700 shares of £1 each Sub ceribers: Onehunga—D. H. K. Jones T A Jones 1. Ironfounders, engineers, etc. Entertainments (N.Z.), Ltd., Auckland. Capital: £lO,OOO, in 10,000 shares of £1 each. Subscribers: Auckland-—A. G. Maize, r W Hartv A. R. Wilson, L. W. Swan, w R* P Moody, H. G. Bartlett, T. H. B. Sien‘l sha?e each, Objects: Cabaret theatre proprietors, etc. Farmers’ Meat Auction Co, Ltd, Auck land: private company. Capital. £lOO, in ,00 shares of £1 each. Subscribers: Auck-land-N C. Olde 99, S. B. Olde 1. Dealers In meat, poultry, etc. ‘ White. Wm. and Sons, Ltd., Auckland, private company. Capital: in 2000 Boulton 1000, G. E. F. Kingscpte 1000. Manufacturers and dealers in ice and iced g< MooueyT J. K. and Co., Ltd., Dunedin: private company. Capital, £lOOO, In 1000 shares of £1 each. Subscribers: Dunedin —G. Stewart 909, G. Stewart 1. p x " porters and importers, buyers and sellers of and dealers in wool, skins, hides, etc. Doughboy Sawmilling Co., Ltd., Woodstock; private company. Capital, £lOOO, in 1000 shares of £1 each. Subscribers. Woodstock —M. Keenan 990. Greymouth— C. R. McGinley 1. Sawmillers, etc. Lawn and Fleming, Ltd., Grey mouth; private company. Capital: £liwo, in loot) Shares of £1 each. Subscribers: Greymouth—F. B. Lawn 775, J. C. Fleming 770. Drapers, etc. , , , Maison McKay, I»td, Napier; private company, July 4, 1930. Capital: £384, in £1 shares. Subscribers: Hastings—J. M. Angus 250, M. M. Murray 134. Objects: To acquire and take over the business of Maison McKay. Hawke s Bay C.O.D. Importing Co., Ltd., Napier. Capital: £15,000, in 30,000 shares of 10/- each. Subscribers: Wellington— A. B. Taylor 100. Hastings—W. J.Lyon 100, D. G. Rlddiford 100, A. Lean 100, D. G. Simson 5, W. F. Hicks 5 Havelock North—J. P. Coulson 5. Objects: Mail order agents, importers, indentors, general agents, merchants, drapers, and warehousemen, as subsidiary to and dependent upon the C.O.D. Importing Co., Ltd., ete. Increases of Capital The following increases of capital are reported by the ’’Mercantile Gazette”:— Swailes, Ltd., Napier. Capital increased to £15,000 by creation of additional 5000 £1 shares, by resolution dated June 13. Kiwi Shearing Machine Co., Ltd., Napier. Capital increased to £4OOO by creation of additional 1000 £1 shares, by resolution dated Juno 30. Capitol Theatre, Ltd., Wellington. The capital increased from £3OO to £5OOO, by , the creation and issue of 4700 shares of £1 I each (700 ord. and 4000 pref.). METALS MARKET ‘ Copper and Tin Down i ' ; ' . V London, July 24. INEetal exchange quotations are as follow, those previously cabled being given for

BANK SHARES AT PAR. PAYMENT OVER THREE YEARS. Considering the safe and profitable nature of Bank Shares, and the heavy premium which must be paid for shares in the operating banks, “A & N.Z.” Par shared are a unique investment. Shares in The Australian and New Zealand Banking Corporation Ltd. are available on terms which make them particularly attractive, and easy to acquire. Only 5/per share, being application and allotment money, is payable on application, and the balance of 15/- in calls of 2/0 per share, at intervals of not less than six months. This means that payment is spread over at least three years, and gives investors the opportunity of securing a good parcel while the shares are still at par. 'fjie new Bank went to allotment some time ago with the remarkably successful subscription total of over 400,000 £1 shares, and in view of generous subsequent support, the Directors confidently anticipate that the Bank will be in active operation this year, with branches in the four main centres. Investors are advised to apply at once for a copy of the prospectus, which can be had—without any obligation—from the Organising Brokers, Dominion Brokers Ltd., 68 Dixon Street, Wellington.—Advt.

THE MONEY MARKET Bank of England Return GOLD RESERVE LOWER London, July 2-1. The Bank of England return for the week ended July 23 is as follows :— Issue Department. £ £ Notes issued — Govt, debt 11,015,100 In circula- Other Govt. tion ... 364,137.682 securlIn banking ties ... 232,880,185 dept. .. 49,980,823 Other Silver coin 4,4(16,699 *£260,000,000 Gold coin and bullion ... 154,118,505 £414,118,505 £414,118,505 •Amount of fiduciary issue. Banking Department. £ £ Capital . 14.553,000 Govt.seRest .... 3,520,462 curlties 51,35;>,547 Deposits— Discounts Public .. 9,904,246 and adBankers . 67,265,603 vances . 7,098,343 Other Other seacounts . 36,206,939 curlties . 22,102,394 Seven day Notes ... 49,980,823 Gold and etc., bills .. 2,251 silver coin 915,394 £131,452,501 £131,452,501 Proportion of reserve to liabilities, 44.80 er cent., compared with 44.20 per cent, on July 16, and 39.75 per cent, on July 24, 1929. The principal items of the above return compare as follows with those for the preceding week:— I July 16. July 23. Deposits— £ Government 10,396,642 9,904,246 Bankers 69,587,620 67,205,603 Other acounts 35,505,672 36,206,939 115,489,934 113,376,788 Securities— Government 55,695,547 51,355,547 Discounts and advances 6,217,583 7,098,343 Other securities .... 20,391,747 22,102,394 •Reserve 51,250,728 50,896,217 Note circulation .... 365,120,700 364,137,682 fCota and bullion.... 156,371,428 155,033,809 •Reserve on July 24, 1929, was £43,368,013. tJuly 24, 1929, £150,700,158.. 1930, maximum, May 7, £164,502,391; minimum, January 1, £146,115,719. Short Loans and Bills. The Bank of England rate of discount is 3 per cent., to which it was reduced from 3} per cent, on May 1. Short loans are quoted at 2 per cent., unchanged on last week. The market rate of discount for best three months' bills is 2 7-16 per cent., as against 2 3-8 per cent, last week. New York Call Money. New York, July 24. The rate for call money in New York today stood at 2 per cent, all day. GRAIN AND PRODUCE Canterbury Potatoes Weak By Telegraph.—Press Association. Christchurch, July 25. The market for potatoes is still very weak. The Katoa is due to sail from Lyttelton to-morrow night, and It is expected that she will take between 2000 and 3000 sacks to Auckland—a great deal less than had been anticipated. The Wingatui is scheduled to sail from Tlmaru to-morrow, and estimates of her loading are from 5000 sacks to 9000 sacks. In any case it will be the largest shipment to leave Tlmaru over a long period, For the Katoa values were considerably firmer than the ruling prompt quotation, and sales were made at £4/15/- to £5. To-day forward quotations are £4/12/6 a ton, f.0.b., s.i., for Julys, £5/2/6 for Augusts, and £5/5/- for Septembers. The role the farmer Is adopting is that of holder, and to-day with values so low, he remains firmly in that position. The nominal value to farmers is £3/10/to £3/15/- per ton on trucks as compared with £6/15/- during the corresponding week last year. Oats are also very quiet locally. However, the position is still firm and B Gartoiis’have been sold this week for Lyttelton shipment at 4/- per bushel, f.0.b., s.i., and A Gartons at 4/1. The southern quotations to-day are 3/8} to 3/9 f.0.b., s.i., for B Gartons and 3/9} to 3/10 for A Gartons. The chaff market is quiet. ’•»ere Is little offering and little inquiry, erom Auckland the inquiry is small as Tasmanian consignments hold the market there and more are expected next month. Sales for prompt delivery have been made at £0 17/6 a ton f.o.b, s.i., equivalent to £5/7/6 on trucks. Chaff for later delivery is not offering In any quantity and the Inquiry is dull. The onion market is practically- a spent force, but a few orders are being met from outside ports. The dnty which has just been njaced on foreign onions has had a firming effect on the market and up to £4 per ton on trucks has been paid this week for quality lines. A little business is being done in the new season’s wheat at 5/5 to 5/6 a bushel for Tuscan nccordlnp: to stations. I’owl wheat is a shade firmer with the inquiry fair. To-day’s quotations is 6/- to u/i f.0.b., s.e.

OTAGO MARKETS Potatoes Weaker Dominion Special Service. Dunedin, July 25. The milling wheat market remains inactive, there being practically no business passing iu Otago. Practically all varieties of wheat have passed out of first bands, and business in the district is confined mostly to fowl wheat. The demand for the latter continues slow, the distribution business being poor for this time of the year. Prices, however, remain firm at 6/3 per bushel ex store, Dunedin. As there is only a small quantity offering, prices for milling wheat remain unaltered at 5/0 on trucks, sacks extra, country sidings, for Tuscan, with 5/11 to 6/- for Hunters and Velvet The oats market is dragging, with a downward tendency. The decline in price has not been caused by offerings from the country, as the bulk of the oats are now in merchants' hands. The weakening in prices is reflected in the offers to sell tin’ small lots held by farmers. The quotations now submitted are 3/2 per bushel, sacks extra, on trucks, country sidings, for A’s. nnd 3/- for B's. The local demand for chaff is not very active, but the quantity arriving is quite sufficient to keep the market well supplied. There is not much inquiry for shipment, but an odd truck is being sent away at a price which shows a reduction on the rates ruling early in the season. The present value of best quality is £5/10/- to £5 15/- per ton, sacks extra, ex truck, Dunedin. .Medium and poor quality is selling'slowly at £4/10/- to £5 per ton, sacks extra, ex store, according to quality. The potato market Is weak. Some Canterbury merchants bought potatoes forward earlier in the season, but they are now anxious to quit their stocks at a lower figure than they paid in the first instance. This has caused an anxiety among merchants who hold potatoes to also sell, and they are now trying to find a market. Consignments to the local market have increased. and supplies are now in excess of the demand. It is difficult to maintain the price that was ruling last week, namely £5/5/- per ton. sacks included, for freshlydug lines. Whatever inquiry there is is only for potatoes that are not showing signs of growth or disease.

Overseas Grain Markets London, July 24. Wheat. —Cargoes to-day were unchangedd and steady. Parcels were in poor inquiry at prices unchanged to threepence advance. Futures: London, July 33/8 per quarter; September, 33/10; Liverpool, July 7/2 1-8 per cental; October, 7/4; December, 7/.> 3-8; March, 7/7 3-8. The spot trade is quiet; Australian ex ship, 38/3. B lour is steady; Australian ex store 29/6 to 30/-; oats are firm. Beans are dull and peas have a firmer tendency. New York, July 24. Chicago Wheat.—July, 88 1.-8 cents; September, 91 1-8 cents; December, 97 cents; March, 101$ cents. r t Melbourne, July 25. Wheat 4/2 per bushel. Flour £ll to £ll/5/- per ton. Bran and Bollard £7/5/- per ton. Oats 3/3 per bushel. Barlev English, nominal 3/4 to 3/6 per feustel. ' Maize, 5/10 per bushel.

DAIRY PRODUCE FIRM N.Z. Butter Up to 185/188/CHEESE STEADY AT 78/84/London, July 24. Butter.—The demand has improved, Danish 156/-; choicest salted New Zealand, 136/- to 138/-; exceptionally fine, 140/-; Australian, 135/- to 136/-; unsalteds, New Zealand 150/- to 152/-, Australian 134/- to 136/-. Cheese: Firm, New Zealand, white 79/-, coloured 83/-; Australian, white 75/-, coloured 80/6. Cabled advice received by Mr. G. A. Mills from A. J. Mills & Co. Ltd., London, under date July 24, gives the following market prices as ruling at close of business on Thursday:—Butter: The market is firm. New Zealand, finest 136/- to 138/-, first 135/- to 136/-; Danish, 150/- to 152/-; Australian, 132/- to 136/-. Cheese: T(he market is steady. New Zealand, white 78/- to 80/-, coloured 82/- to 84/-; Canadian, c.I.L white 80/-, coloured 82/-. Joseph Nathan & Co. Ltd. have received the following market report from Trengrouse & Nathan Ltd., London, dated July 24:—New Zealand butter, stored 136/- per cwt., fresh landed 137/- to 138/-; market firm. New Zealand cheese, white '79/- per cwt., coloured 83/-; market very quiet. Dalgety and Co. Ltd. have received from Samuel Page & Son, London, the following report under date of July 24: —Butter: Market firm. Danish, 154/- to 156/- (144/to 146/-); New Zealand finest salted, 135/to 138/- (134/- to 137/-); Australian finest unsalted. 132/- to 136/- (132/- to 135/-), salted 132/- to 136/- (132/- to 135/-), G.A.Q. 130/- to 132/- (126/- to 130/-). Cheese: Market quiet. Australian cheese, white 74/to 76/- (not quoted), coloured 80/- to 82/(not quoted): New Zealand cheese, white 78/- to 80/- (74/- to 76/-), coloured 82/- to 84/- (80/- to 82/-): spot price for Canadian, white 82/- to 84/- (80/- to 82/-), coloured 82/- to 84/- (80/- to 82/-) : c.i.f. price for Canadian, 81/- to 82/- (77/- to 78/-). (Previous quotations shown In parentheses.) A. S, Paterson and Co., Ltd., Wellington, report having received cable advice, dated 24th Inst., from J. and J. Lonsdale and Co., Ltd.. London, as follows:—Butter: Market firm; Danish. 156/- to 158/-; New Zealand, 137/- to 138/-; Australian, 134/to 136/-. Cheese: Market quiet: white, 79/- to 80/-; coloured, 83/- to 84/-. THE WOOL MARKET Bradford Tops Unchanged London, July 24. The Bradford tops market Is slightly better with more Inquiry. Quotations, which are unchanged, compare as follows with those previously cabled: — July 3 July 10 July 17 July 24 Per lb. Per lb. Per lb. Per lb. d. d. d. d. Sixty-fours .. 27 27 27 27 Sixties .... 26 26 26 26 Fifty-sixes .. 20} 20} 20 20 Fifties .... 17 17 17 17 Forty-sixes .. 14} 15} 15} 15} Forties .... 15 14} 15 15 Murray, Roberts and Co., Ltd., are in receipt of the following report from their London agents, comparing the closing rates of the London wool sales with those for Mak:— ’ July May

FEILDING STOCK SALE Values Generally Firm Dominion Special Service. FeHding, Jnly 25. A heavy yarding of fat sheep and lambs at the stock sale to-day found the market firm at late rates. The lines offered were of good quality. Prime animals sold well. A small yarding of breeding ewes which were not of outstanding condition were somewhat hard to quit, but ewe hoggets were snapped up at high prices, farmers evidently expecting good market conditions later on. Top-dressing is increasing the demand for young ewes. Dairy cattle were yarded in large numbers and sold well at a slightly reduced average price compared with last .week, but this was accounted for by the fact that the quality was not up to standard. Good lines sold at high prices. A small yarding of fat cattle Included some bullocks which could not reach the vendors’ reserves. A small yarding of store cattle sold at late rates. Fat Lambs.—Primest, 19/3 to 21/1; very good, 16/3 to 17/1; medium, 3/7 to 15/3; fair, 11/11; fat b.f., 13/-; w.f. lambs, 18/to 18/6; fat ewes, best, 21/6 to 22/-; very <-<?od, 17/6 to 10/D: good to- 17/-; medium, 13/6 to 16/7; pet lamb, 27/1. Fat wethers, heavyweights, 15/- and A>/3, good weights, 20/-. Store Sheep.—Four, and five-year ewes r.w. Southdown rams 17/1: five-year ditto, 22/-- aged ditto, 20/-; owes In amb. very good, 25/10; others from 16/-: wether Jersey cows and calves, £5/15/- to £B/5/-; Jersey cows at drop, £9/15/- to £lO/10/-: «!’ ri, ” rl "?/i C n’/' VS ;n Ve £9 choice, £l4: Rood quality, £9/10/- to £9 15/-: others from £7: second enlyers, verj good, £l2; others from t 9 81/-: springing heifers, best; £10; others £B. One line, a special entry, sold at ~H Cattle.—Wenner heifers, £ */2/tp yearling heifers, £4/12/-: store cows, £2 13/- to £3/10/-: flit Jersey rows. ight £6/10/-; medium lines from to « 12/6.

Carterton Prices Dominion Special Service Mnstcrton, July 25. A good entry of dairy cattle and sheep was Offered by the Wairarapa nririers Co-operative Association, Lid., at their Carterton sale to-day. There was a good demand for good heifers and cm ear calvin" A good clearance was cflectcd at the fidlowing prices: Bost, springing cows, £ll/5/- to £l2/2/6; later calvcrs, £7 to £8; best springing heifers, £lO/10/- to £ll/10/-: small nnd late calving heifers, £7 to £6; empty forward cows, £4/10/-; dairy heifers, in oalf, £5/15/-: good ewe hoggets, 18/7; good wether hoggets, 16/7, forward empty ewes, 11/8. CUSTOMS REVENUE.

The Customs revenue collected tit the port of Wellington yesterday totalled £5883.

RABBITSKIN SALES

London Prices Decline London, July 24. At the rabbitskin sales 2000 bales were offered and about 1100 sold. Furriers’ sorts, stout-pelted, declined 10 per cent, compared with May 30. Thin-pelted were neglected. Good hatters' declined 20, and poor 30 per cent., except kittens, which were unchanged. Dalgety and Co., Ltd., have been advised bv their head office, that there was a poor demand at the London rabbitskin sales on Wednesday. Rough pulling sorts were 20 per cent, lower and unpulled, 3a per cent, lower.

Buyers. N.Z. GOVT. WANS— £ s. d. 44 p.c.. Ins. Stk., 1939 99 10 0 .Sellers. £ s. d. 4j p.c. Bonds, 1941, 1939 1938 99 i 10 0 BANKS— — ■ — 12 0 0 Aust, of Commerce .. 12 2 13 9 Comm, of Aust., ord. 110 *114 Com. Bank of Sydney 19 15 0 29 5 0 English, Scot. & Aust. — 5 19 0 to 16 6 National of Australasia, £10 paid 14 0 0 14 7 6 New South Wales .... 35 15 0 36 2 6 2 15 5 2 15 10 Union of Aus-t *11 5 0 FINANCIAL—. Goldsbrough Mort. .. 17 0 — ■ N.Z. Guar. Corpn. ord. 0 7 9 0 8 0 1 0 10 ■1 1 Wgtn. Invest., T. & A. *0 11 6 Wgtn. Trust & Loan 6 18 0 Wgtn. Deposit & Mtg. 0 9 9 — Wright, Stephenson pref —— 0 15 8 GAS— -- ■ ♦16 0 - 16 0 ■ ' 0 12 6 Wellington, ord.. .... 1 10 1 MEAT PKESEKVING— Gear <. . 1 17 9 WOOLLEN— Wellington, ord .... 5 10 0 5 18 0 TIMBER— 0 10 0 BREWERIES— 2 9 3 ■ — 0 10 0 —— MISCELLANEOUS— 1 - 37 0 0 British Tobacco, ord. 1 17 0 1 17 6 Dental and Medical . ■ — 0 12 0 Electro Zinc, ord .... 10 3 *10 9 National Electric .... — 0 10 6 N.Z. Farmers’ Fertiliser — •1 1.0 Shetland & Co., ord. . — 0 18 9 ditto., pref —— 0 19 0 Wairarapa Farmers’ ■ ■ ■■ c 0 14 6 Well. Queen’s Theatre 12 0 Wilson's Cement .... 1 19 0 2 2 6 Strand, Ltd 110 —— Consol. Brick & Pipe — 0 17 9 MINING— Wai hi 0 13 9 0 14 1 Waihi Grand Junction . 0 2 1 13 0 Mount Lyell Kights 0 13 0 2 0 ♦Cum. dividend. fEx dividend.

•Tilly 24. July 22. Par. N. York, do Is-, to £ 4.80 21-32 4.868 ■ 4.806 Montreal. dol. to £ 4.86 ■1.86 4.806 Paris, fr. to £ 123.67 123.67 124.21 Brussels, bel. to £ 34.80 34.805 35.00 Geneva, fr. to £ 25.035 25.03 25.221 Amst'dam, fl. to £ 12.00} 12.001 12.107 Milan, lire to £ 02.88 02.875 02.46 Berlin, mks. to £ 20.38 20.37 20.43 St’holm, knr. to £ 18.095 18.095 18.159 C’hagcn, knr. to £i 18.16 18.16 18.159 Oslo. knr. to £ 18.165 18.16 18.159 Vienna, sehgs. to £ 34.435 34.435 34.585 Prague, knr. to £ 164} 1641 164.25 Hel’fors, mks. to £ 1035 193.25 193.25 Madrid, lies, to £ 42.55_ 42.60 25.221 Lisbon, ese. to £ 108.2a 108.25 Athens, drach. to £ 375 375 375 Bucharest, lei to £ 818 818 813.6 Kin do Janeiro, pence to inilrols Kt, .55 5.899 B. Aires, p. to dol. 40 0-16 40 15-16 47.577 Calcutta, p to rup. 17 25-32 17 25-32 IS Shanghai, p. to tael 18 18 i II.-Kong, p. to dol. Io} Y’haina, p to yen 2411-32 15} 241 24.58 Price of Silver.

WELLINGTON. Sale Yield price. 1 £ p.c. £ s. d. 8. Govt. Inscr Stock, 4J 99 15 O' 4 10 8 Comm. Bank of Aust. 1 1 0 7 2 10 Bank of N.Z. (2) 15 9 5 2 10 Leyland O’Brien Tim. 1 5 0 6 13 AUCKLAND £ s. d. £ 8. d. Bank of ti-Z- (3) 2 15 9 5 2 10 National Insurance .... 0 14 0 5 7 Dom. Invest. & Banking 1 0 0 7 0 Pukemiro Collieries .. 3 2 6 11 4 1 5 6 6 5 chbistchurch. £ 8. d. £ 8. d. Nat. Bank of Australasia, £5 pd 6 19 6 7 3 4 Bank of N.S.W. . Bank Qf N.Z. (4) .... 36 2 o 15 0 9 5 ] 5 LI 2 J 1 L0 Christchurch Gas (2) N.Z. Breweries 1 5 10 8 1 6 5 ] 4 L9 9 2 9 11 6 0 Tooth’s Brewery 1 7 10 8 1 19 7 Mount Lyell (2) 1 3 10 Mahakipawa (4) 0 0 t Sales reported r— Austr. Bank of Comm. Bank of N.Z. ........ Christchurch Gas (10/paid) 1 2 2 15 0 9 6 5 4 2 ] 5 to 0 1 12 3 10i 6 6 V 4 3 DUNEDIN. £ 8. d. £ s. d. Mount Lyell rights .... 0 2 0 —

purposes ot', comparison:— July 24. Per ton. July 21. Per ton. Copper— £ s. d. £ s. d. Standard, spot .. 47 6 104 48 17 6 Standard, forward 47 3 1} 48 11 3 Electrolytic 51 0 0 50 10 0 to 53 0 0 52 10 0 Wire bars 53 0 0 52 10 0 fead— Spot 18 3 9 18 5 0 Forward 18 2 6 18 3 9 Spelter— Spot ... 16 5 0 16 16 10} 1G 1« 10i 17 6 3 Tin— Spot 135 12 0 134 12 6 Forward 137 7 6 134 3 9 Silver— Standard, per oz. 1515-16d. 16d. Fine, per pz 17 3-16d. 17}d.

S( sries. series d. d. N.Z. Merino, 60/64’s, yielding 48 p.e lot — Fine halfbred, 56's, yielding 60 p.e lot nt Coarse halfbred, 50's yielding 65 p.e 91 id Medium crossbred, 44/46's, preparing yielding 74 p.e 91 lot Medium crossbred, 44/46’s, carding yielding 72 p.e 91 101 Coarse crossbred, 40/44’s, yield101 Low crossbred, 36/40’s, yielding 75 p.e — 91