FINANCE AND COMMERCE

Dominion, Volume 24, Issue 105, 28 January 1931, Page 12

FINANCE AND COMMERCE

STOCKS AND SHARES Wellington Exchange more inquiry There was a Blight Improvement in the yesterday, for there were more bids, and five parcels of shares changed hands at satisfactory P r ' c ®®- . t Government Securities were slow, but values were steady. The 51 per cent Stocks and Bonds, 1938, er %X a “‘? d £ nn £9O, and the 5i per cents., 1041, at £»» shares were In poor demand. Commercial Bank of Australia, ordinary, at 14/2 cum dividend, were a shade lower. Bank of New South Wales at £27/5/- were un 5/-. Bank Of New Zealand were In demand at 48/3, whlld the last sale recorded was at. 48/3. Other bank shares were not in demand. , . . South British Insurance were wanted at 51/6, with sales at 52/6. These shares sold at 54/9 earlier In the month. New Zealand Insurance were firm at 41/- cum dividend. Wellington Gas were steady at 27/9 cum dividend, but there were no sellers. New Zealand Guarantee Corporation changed hands at 6/-, and sellers now ask 8/6. Gear Meat sold at 28/-. Huddart-Parker, ordinary, were In demand at 22/6, but sellers held for 26/-. Kelburn Trams were wanted at 2V/o, out there were no sellers. There was a bid of £4/16/- for Wellington Woollen, preference, or 10/- below their face value, but there were .no sellers. LeylandO’Brien Timber were wanted at 22/6, but sellers asked 25/6. • New Zealand Breweries were in demand at 33/-, with a sale at 33/6, and Staples and Co. were wanted at 32/6, with no sellers of either shares. Burns, Philp and Co. at 28/- were up Is. The recent development at the bore of the Blenheim Oilwells Co. in Taranaki has brought inquiry for oil shares. There was a speculative bid of £2 for Blenheim Oil. Moturoa Oil shares were wanted at 3/- and Taranaki Oil were also wanted at 3/-. No -*l shares were offering yesterday.

Yesterday’s Quotations Buying and selling quotations at yesterday’s final call on the Wellington Stock Exchange were as follow:—

NAPIER GAS COMPANY Net Profit Increases The balance-sheet at the Napier Gas and SFaAM'S g “a, coke, and tar, rents, interest '« “ ™ s.as’xSrts for bad debts, amounted to f 148,278, agains £50,502 in the preceding year. The coal ttsjchl cast £19,400, against £20,138, wages salaries 10 ’aborted £14419, agatoß 4? 14140 and land and income tax took against £2238. The profit and loss account shows as under. 1930-

Chicago Wheat New York, January 20. Chicago Wheat.—March, 79 5-8 cents; May, 82 3-8 cents; July, 05} cents. AUCTION SALES TO-DAY. Booms, Bank of N.Z. Bldgs., Lambton Quay, 2.30 p.m.—Sale land and property a/c S.C., 17 Crulckshank St. (Tolhurst & Son). Featherston St., Wellington, 2.3o—Mortgagee sale property, Levin (N.Z. Loan & Mercantile Agency). Panama St., 2.30 p.m.—Sale land and property, a/c S.C., Mortimer Terrace, Brooklyn (Gordon Harcourt). Vending, 11 a.m.—Sale by Mortgagees of property at Kimbolton (N.Z. Loan & Mercantile Agency. Ltd.) Rooms, "Ocean House,” 36 Martin Place, Sydney, 11 a.m.—Business premises (Hardie & Yorman). Johnsonville Fat Stock. Sale—l p.m. Wllleston St., 10.30 a.m.—Sale of carpet squares (E, Johnston & Co.) 55 Rugbv St., 10.30 a.m.—Sale furniture (C. W. Price). Woolworth Bldgs., Cuba St., 1.30 p.m.— Sale of furniture (Silverstone & Co.) THURSDAY. Upper Hutt Stock Sale. Union Steam Ship Co’s, yards, Evans Bay, 10.30 a.m.—Sale of surplus stores, etc. (E. Johnston & Co.) Allen St., 10.30 a.m. —Sale of poultry (Townsend and Paul). FRIDAY. Walkanae Ram Fair (N.Z. Loan & Merc. Agcy. Co., Ltd.) Walkanae Saleyards, 12.30 p.m.—Sale of Rams (Dalgotr, A

DEALINGS ON 'CHANGE

Yesterday’s Business DOMINION SALES The following sales were recorded on the Stock Exchanges of the Dominion yesterday:— WELLINGTON. £ s. d.

NEW COMPANIES Recent Registrations Two companies, one private and one public, have been registered In Auckland. Details are as follow: — Electric Iron Grip Switch Company, Ltd., purchasers and exploiters of a patent for the control of heat in electric irons and similar appliances; private compa??: Capital, £3463 in £1 shares, of which 2400 are founders’ shares. Subscribers: Robert Fleming, 600 shares; John Gordon, GOO shares; William McAra, 1200 shares; Beddie Primrose, 38 shares; Robert Hory, 50 shares; Violet May Cameron, 100 shares, Herbert Jameson, 75 shares; Samuel Campbell Crawford, 12 shares; Arthur Henry Wylie, 38 shares; Charles William Horrox, 75 shares; Margaret Alexander, 500 shares, Edna G. Briggs, 25 shares; James Hogg, 150 shares. All subscribers reside in W Mount r Tokatea Mineral Fertiliser Company, Ltd., quarry owners and artificial mineral fertiliser manufacturers. Capital, £l5OO in £1 shares. Subscribers: Ernest D’Esterre, of Auckland, 25 shares; Harry Reginald Jenkins, of Auckland, 150 shares, Arthur Ernest Smoky, of Auckland, 25 shares; Alfred Richard Clarke, of Hamilton, 25 shares; Frank Clayton Pearce, of ‘Hamilton, 25 shares; Norman Mitchell, of Hamilton, 25 shares; Otto William John Simpson, of Lower Hutt, 25 shares. Registration of the following new companies is reported in the Mercantile G Amalgamated Tobacco Manufacturers, Ltd., Auckland. Capital, £200,000 in 200,000 shares of £1 each. Subscribers. Auckland—United Tobacco Corp., Tauranga. Ltd., 1000; Tauranga Tobacco and Citrus Co., Ltd., 1000; Standard Tobacco Co., Ltd., 1000; J. Boddie, 500; H. A. Robertson, 500; W. J. Lyon, 500; P. Keegan, 100. Objects: Deal in tobacco, etc. Como Distributors < N - 2 '-). lend; private company. Capital, £2500 in 2500 shares of £1 each. Auckland—G. B. Morrison 50, K. R. Fiimer 200, A. J. Parker 200, W. E. Begbie 50, K. R Fllmer 500, G. Martin 200, K. B. Filmer 600, R. M. Sully 700. in motor accessories, engineers, garage Dr Cefeai 0 (New Zealand), Limited, £200,000* ’ divided® shares of £1 each. Subscribers: Melbourne 01c.) —H. L. Spry 3334, F. W. M. Spry 3333, H. E. Spry 3333, C. H. Creaser 2aoo, R. H. Creaser 2500, E. R. Creaser 2500; Sydney— H. H. Creaser 2500. Objects: To deal in all varieties of cereal and other foodstuffs., et ßuller Agricultural Lime Co., Ltd., Westport; public company. Capital, £5OOO. in 5000 shares of £1 each. Subscribers: Westport—E. Skllton 50, G. M. Powell 25, J. Cos J cll ° il , so ’t> H. Martin, junr., 25. Sergeants Hill R. H. Wimsett 25, Cape Foulwind—J. Rick® 011 25. Charleston—J. Morris 25. Objects: Manufacturers and suppliers of I lime, eth. Poppelwell, H. 8., and Co., Ltd. .private company, Hastings. Capital, £l5OO into 1500 £1 shares. Subscribers: Hastings G. L, Crooks, A. Ross, H. B. Poppelwell 500 each. Objects: To acquire and take over as a going concern the drapery and general warehouse business now carried on by H. B. Poppelwell and Co. GRAIN AND PRODUCE Canterbury Supplies By Telegraph—Press Association. Christchurch, January 27. There is very little activity in the oats market. Algerians have been sold at from 1/10 to 2/- on trucks. A few samples of A Gartons have appeared. They are very good quality, due to the fact that they ripened and were harvested without rain. Quotations are round about 2/6, but there is no stability at that figure. Any business in “free” wheat is on the basis of 5/5 to 5/6 a bushel on trucks. Two samples from North Canterbury were seen to-day—one from a header harvester and the other threshed by a mill. They were both pinched in appearance as a result of the dry period. Indications at present are that a'problem this season will be what to do with the fowl wheat, of which the proportion promises to be much larger than U There was a brief dash in the potato market yesterday, gnd they were sold at £4/7/6 a ton f.0.b., s.l. However, that level was not sustained and to-day the quot&The small seed is indeed and quotations are unaltered. there has been some activity in the onl ”' 1 “ a ‘ ket. They are now quoted at about £5 a ton on trucks to farmers. AUCKLAND MARKETS Potatoes Cheaper Dominion Special Service. Auckland, January 27. • There have been few changes in the .local e-raln and produce markets since last reAs a result of the luxuriant pasture growth in all suburbs and the increasing headway made by motor traction, the demand for oats and. chaff is very small. Best southern chaff still commands £9/10/ner ton but when the Katoa arrives with a shipment of new season’s to-morrow the price Will ease 10/- a ton. B Garton oats ntill command 4/4 per busnel. Wheat is selling at 7/9 to 7/10 per bushel through store, but the southern market is weak and next month should see a drop of about 6d. per bushel. Consumption has been stimulated by the slight reduction alreiiMz™I |s unaltered at 5/9 per bushel ex store. The recent hot weather, coupled with' the lower prices now accepted for wheat, has restricted sales. Both pollard and bran are selling at extremely low rates and are meeting with a steady demand. , Potatoes are again more plentiful and the local quotation has slipped back to £B/10/- per ton, ex store, and £7/10/- per ton on trucks, Pukekohe. Onions are also available in larger quantities, and can now be bought in the city at 9/- to 9/6 per cwt. Wholesale current prices are:— Pollard and Bran.—Mill prices, pollard £5 per ton; bran, £5/5/- per ton; merchants’ prices, Australian pollard £5/10/to £0 per ton, bran £6. Oats.—Feed. B Gartons, 4/4 per bushel A Gartons, 4/5; clipped Duns, 6/6; clipped Algerians, 0/3; clipped Gartons, 4/9. Fowl Wheat.—7/0 to 7.10 per bushel. •

Maize—Local, 5/9 per bushel ex store. Barley.—Feed, 4/6 per bushel; seed, Cape barley, 6/6 per bushel. Maize Meal. —11/6 per 1001 b.; barley meal. 11/- per 1001 b. Chaff.—G.b.o.s.. £9/4°-'- “ex nlou hehn or Canterbury; Tasmanian, £9 in New Zealand sacks.

Potatoes.—£B/10/- per ton, ex store; £7 lO>- on trucks, Pukakoha.

THE WOOL MARKET

London Sales Values

FRANCE BUYING LITTLE London, January 26. At the wool sales 8139 bales were offered, including 430 from New Zealand. Approximately 5940 bales were sojd. There was a good offering of greasy clip wools and a moderate lot of scoureds, Friday’s improved tone was maintained. Quotations were unchanged. New Zealand greasy crossbred CGC 5Jd., 5Jd. At , Bradford there was some inquiry, but at a very low figure. Crossbreds were stagnant and prices almost nominal. , , . Levin and Co., Ltd., have received the following cable from their London agents, dated January 26:—The auctions are proceeding at the level of the opening day. There is practically no competition from France. A fair quantity of the wool available will not be offered. The following prices are current: — d. d.

BRADFORD TOPS MARKET Crossbreds. Stagnant London, January 29. There is some Inquiry in the Bradford att nominal. SYDNEY WOOL SALES Good Crossbreds Firm (Rec. January 27, 9.20 p.m.) Sydney, January 27. The wool sales were resumed to-day. The offerings totalled 10,624 bales, of which 9784 were sold at auction, also 576 bales were S °The P marke l t y was without material change. Good comebacks and crossbreds were firm, but a weaker tendency was noticeable for were the outstanding operators, with excellent support from France, Germany, and Yorkshire. Greasy Merino made up to 19Jd. DOMINION WOOL SALES No Revision of Roster On Friday afternoon a rumour was current that the roster for the remaining wool sales in the Dominion was under revision, but this has been authoritatively denied, says the Christchurch “Press,” and the sales will proceed as scheduled. However, says one broker, some dissatisfaction has been caused among buyers at the heavy withdrawals at recent sales in the North Island, and there is some talk of one or two of the future sales being deleted. The buyers’ complaint was that heavy expense was entailed in attending the sales at so many centres, and this expense was only warranted if reasonably full catalogues were offered. It will remembered that trouble of a similar nature occurred last season, when the buyers issued an ultimatum that they would not attend the sales unless the offerings were at least 20,000 bales, and the Wellington sale had to be abandoned on account of the buyers’ absence. The trouble was finally adjusted, and the subsequent sales were held, on an amended r °The’ alocation for Monday’s sale at Christchurch was 25,000 bales, and the increase to 29,833 doubtless compensated for the small offerings recently in the North Island. At the first sale this season in Christchurch 17,396 bales were offered, and the passings constituted no more than “There will be no curtailment,” said Mr. W. C Brydon, president of the New Zealand Woolbrokers’ Association on Saturday, in answering a suggestion that a reduction of the wool sales was being planned “As far as the brokers are concerned," Mr. Brydon went on, “the schedule has been drawn up, and it will be adhered to.” The following are the dates upon which wool sales are fixed to be held in New Zealand during the 1930-1931 season

January 26—Christchurch. January 30—Invercargill. February 3—Dune'dln. February 6—Timaru. February 13 —Wellington. February 18—Napier. February 23—Wanganui. March 2—Christchurch. March 9—Dunedin. March 11—Invercargill. March 18—Wellington. March 23—Napier, March 27—Auckland. March 31—Christchurch. April 10—Dunedin. April 13—Timaru. April 17—Wellington. April 21—Napier. April 23—Wanganui.

Stabilisation of Prices

Brisbane, January 27. Mr. James Clark, a prominent figure In the wool industry. Bays that the only remedy for the stabilisation of wool prices is a method of appraisement on the lines of the Bawra system during the war period, the abolition of selling wool by auction, and pressure on the shipping companies for reduced freights on wool. OIL SHARE MARKET Situation at New Plymouth Dominion Special Service. New Flymouth, January 27. Stagnant for months, the oil share market was awakened suddenly to life yesterday, when the fact of the initial oil fiow at Blenheim No. 2 bore gained currency. Sharebrokers to-day reported many inquiries, hut only a few parcels were sold at £2/5/-, and at least one at £2/10/-, for shares of a nominal value of £l. Those shares were before quoted at £l/5/-. The company’s nominal capital is £20,000, of which only £17,633 has been issued. The bulk of the shareholders are in New Zealand, and most holders are resident in Taranaki. In this connection the company's undertaking is unique. At present there is much activity, and inquiries have been received from Australia in good numbers. Members of the local Stock Exchange report that most inquiries have been from buyers, it being very difficult to secure any indications from sellers. At the figures offering there is room for comparatively little speculation in Blenheims, one reason being that shareholders generally hold large parcels, and individually are not numerous. The Stock Exchange meets to-morrow. At present there is nothing definite to base quotations upon because of the few sellers. The Exchange has decided to broadcast authentic reports periodically from the local station with a view to protecting investors.

The other blow-out on the same property from the reconditioned and deeper No. 1 well of the Blenheim Company occurred in February, 1929. Some members of the Stock Exchange regard the present indications as very good, and consider the bore will prove very productive when bored just a little deeper. Prospects are fur from remote of the present cummin n—utiatlng with Australian capital with a view to taking over that oil is blowing, utner ventures already under way before the Blenheim blow-out have been accelerated-

FROZEN MEAT TRADE

Dominion’s Exports VERY LARGE INCREASE Exports of frozen meat from New Zealand for the 3J months of the current season to January 15 were largely in excess of those for the corresponding period of last year, as is shown in the following comparative table;-

Also 39,369 bags of boneless beef (including 35,295 for Glasgow, 2360 for Liverpool, and 1714 for London. The killings for export at all Dominion works for the period October 1 to January 15 compare as follow: — 1930-31. 1929-30. Beef (quarters) 17,579 21,502 Wether mutton (c/cs.) 276,483 210,657 Ewe mutton (c/cs.) .... 108,428 44,513 Lamb (c/cs.) 1,994,007 1,467,969 Pork-

Porkers (c/cs.) 47,068 26,600 Baconers (c/cs.) 13,785 13.529 Boneless beef (frt. c/cs.) 38,013 32,046 Sundries (frt. c/cs.) .... 52,070 35,835 The New Zealand Meat Producers' Board is advised by cable from its London office that the shipments from Australia and South America to the United Kingdom during the first half of January were as follow:—Australia: Carcasses mutton, 59,118; carcasses lam'b, 124,685; quarters beef, • 16,426. South America: Carcasses mutton, 38,797; carcasses lamb, 371.314; quarters beef (frozen), 3818; quarters beef (chilled). 185,800. Shipments from Patagonia: Nil. The shipments from New Zealand to the United Kingdom for the same period were as follow :—Carcasses mutton, 107,382: carcasses lamb, 383.399;. quarters beef, 1774. The shipments from South America to the Continent of Europe during the same period were as follow:—Mutton, 618 tons; frozen beef, 4539 tons. Export Meat Prices Heavy supplies of fat stock continue to come forward to the Auckland works, and as yet there is little indication of an early easing in the numbers offering, says the "Herald.” The quality of the lambs has tended to decline considerably, during the past week or so, more seconds being graded. Producers have been called upon to bear a further drop in price this week, there being a general decline all round. Best lamb is now worth 4jd. a lb. on the hooks; weights over 361 b„ up to 421 b. are worth 4d. a lb.; and seconds and over 421 b., 3jd. Wethers are quoted as follows Up to 481 b., 2}d.; 491 b. to 561 b., 2}d.; 571 b. to 721 b., lid.; over 721 b., l}d.; seconds, IJd. Ewes, up to 481 b. are down l-Bd. a lb.; all others are id. a lb. down. MEAT BOARD’S LEVY, Details of Reduction At its meeting in December, the' New Zealand Meat Producers' Board decided that the levy on meat exported after January, 1931, should be reduced by 25 per cent. According to the last annual report of the board,. the levy on meat exported, less cost of collection, was £36,203, so that the reduction will amount to between £9,000 and £lO,OOO for this year. The rates of levy payable from January 1 will be: (a) In the case of lamb or mutton, Jd. per carcass; Jd. per halfcarcass (or side); 3-16 d, per quarter, (b). In the case of beef, 3-Bd. per quarter; jd. per side, (c) In the case of pork, id. per carcass; 3-Bd. per side, (d) In the case of veal, id. per carcass; 3-Bd. per side; 3-16 d. per quarter. LIVE STOCK MARKET Waipukurau Sale Prices Dominion Special Service. Waipukurau, January 27. In the presence of a good attendance, including Taranaki and Manawatu buyers, the weekly Waipukurau stock sale was held to-day. There was a larger and better quality yarding of store sheep than usual, but no fat stock came forward, and there were only three entries of cattle. The prices prevailing showed an appreciable improvement on those of last week, despite the fact that Central Hawke’s Bay is suffering severely from drought. Cattle.—One fair quality Jersey cow brought £2/6/-; another £l/4/-, and a well-grown Shorthorn steer £2/4/-. i Store Sheep.—Four hundred and seventysix five-year ewes, 6/8; 274 wether lambs, good condition, 6/-; good line 318 five-year ewes, 5/9; 377 medium and light five-year ewes, 2/9; 165 light four and five-year ewes, 4/-; good line 336. two-tooth ewes on' behalf of J. Hunter, Blackhead Station, topped the market at 11/8; 200 medium four and five-year ewes, 6/-; 200 s.m. four and five-year ewes, well-conditioned, 6/6; 143 medium do.,' on behalf Tyer Bros., 6/-; 140 light five-year ewes, 2/9; 132 fair quality s.m. do., 5/3; 172 forward Southdown rape lambs, 7/10; 238 medium late shorn wether lambs from Mangamalre Station, 4/6; 196 s.m. medium and light four-year ewes, same quarter, 7/-; 126 well-grown two-tooth wethers, 7/-: 223 good quality m.s. lambs, lightly seeded, 7/-; 155 small woolly ewes do., 3/2; 136 s.m. medium four and five-year ewes account Tyer Bros., 6/2; 108 five-year big-framed ewes, part of annual, draft from Mr. J. W. Harding, Mount Vernon, 7/3; 89 medium woolly ewe lambs, seeded, 5/4; 118 medium m.s. Southdown lambs, 5/-; 104 medium-two-tooth ewes. 9/-; 67 light two-tooth wethers, 5/9; 101 medium four-tooth ewes, seeded, from Mangamalre, 11/7: 96 medium four-tooJi wethers, 5/3; 65 maiden four-tooth ewes extra good, topped the market at 14/2; 9o good four-tooth wethers, 7/7; 7- big-framed fair quality five-year ewes, 3/-: at) uo., 3/-; 84 small lambs, 2/6; 48 medium mixed aged ewes, 0/-; 59 poor-conditioned do., 1/2; 73 fair two, four and six-tooth do., 5/7; 88 five-year do., good line, from Mount Vernon, 4/6. Ajnong the few lines passed were 186 medium two-tooth ewes from Mangamalre at 8/3 and 24 medium six-tooth ewes at 8/-. GISBORNE RAM FAIR Low Prices Rule Dominion Special Service. Gisborne, January 27. On the first day of the Gisborne Ram Fair 2100 flock Romneys were offered. The highest prices realised were OJgns. and 9gns on account of Mr. Adam McKay, of Masterton. Sales were made on account Bremer and Sons, Waverley. to 7J gu neas. Only a few pens made above 3 guineas, many sold for less than 2 guineas, and for manv there were no blds. The highest price for locally-bred was 6 guineas on account Mr. A. Kirkpatrick. The attendance was smaller than usual and the sale was below expectations. AUSTRALIAN LOANS Sales on Wall Street Now York, January 26. Sales of Australian loans on Wail Street to-day compare with those of a week ago

BASE METALS MARKETS

A General Weakness

London, January 28. Metal Exchange quotations are as follow, those previously cabled being given for the purposes of comparison:— Jan. 22. Jan. 26.

DAIRY PRODUCE Butter 112/-; Cheese 54/Joseph Nathan and Co., Ltd., have received the following market report from Trengrouse and Nathan, Ltd., London, dated January 26:—New Zealand butler, 112/- per cwt. New Zealand ■ cheese, 54/per cwt. Both markets expected to improve soon. Samuel Page and Son, London, report to Dalgety and Co., Ltd., under date January 26: —Since our report dated January 22, butter is 2/- to 3/- per cwt. lower, and cheese 1/- per cwt. lower. Amalgamated Dairies, Limited, on Monday received the following market report from their London office: —Butter: Anchor, 116/-; Danish, 125/- f.o.b. Deliveries New Zealand, 1909 tons. Stock, 4180 tons. Retails Empire generally 1/3, but in some cases still 1/2. Danish mostly 1/4, some still 1/5. Cheese: White and coloured. 55/-; Canadian, still nominally 74/-; trade slow.

Buyers. Sellers. £ s. d. £ 8. d. N2Z. GOVT. LOANS— 5) p.c. Insc. Stock and Bonds, 1933 .. 51 p.c. Xnsc. Stock, 99 0 99 15 0 — 1941 51 p.c. In6c. Stock 0 99 15 and Bonds, 1036 .. —• • 0 BANKS— 9 0 , . 0 Comm, of Aust, (ord.) 0 14 2* Eng., Scot, and Aust. — 4 12 0 National A'asla (£5) —• 5 0 0 New South Wales .. 27 5 0 New Zealand 2 6 3 2 7 0 Union of Aust FINANCIAL— — *8 2 0 Equitable Bldg. Co. —• 8 15 0 Go'ldsbrough Mort . N.Z. Guarantee Corp. — 0 17 8 0 6 6 Wright Stephenson 0 15 9 GAS— 0 10 7 Wellington (ord.) .. INSURANCE— 1 7 9‘ 0 13 — 9 2 1 0* South ’ British ...... 2 11 8 2 13 8 MEAT PRESERVING— N.Z. Refrig. (10/-) . — 0 1 3 transport— Huddart Parker, ord. 1 2 6 1 6 0 P. and 0. Stock .... — 2 0 0 Kelburn Tram (ord.) WOOLLEN— 1 9 6 5 0 Wellington (ord.) .. 0 Wellington (prdf.) .. 4 10 0 COAL— A TIMBER— Levland O’Brien .1. 1 2 8 1 5 8 BREWERIES— 1 13 New Zealand 1 12 0 MISCELLANEOUS—, i R fl British Tobacco, ord. Burns, Philp & Co Dental and Medical Howard Smith (ord.) 1 8 0 11 0 0 0 12 0 12 2 12 6 6 Q National Electric 3 Newton King (pref.) fl .Li. •x/rujs * * * * * Walrarapa Farmers 0 11 0 Wilson's' Cement ... —■ 1 18 3 OIL-; 2 0 0 — Moturoa (3/-) ...... 0 3 0 0. . —* 0 3 mining— 0 18 0 0 19 0 " »Cum dividend.

& 8,932 £ 9,235 6.190 1,000 7,780 INt?t prOHU Brought forward .. To replacement res. .... 7,028 ..... 2,000 7,780 .... 6,100 6,644 The dividend on the preference capital of £20.680 la 6 net cent.. and on the ordinary capital of £75,000, 8 per cent. The balance•heet Items compare as under: — 1930. 1929. Inabilities— ■ '£ .... 104,080 £ 104,680 .... 7,500 9,500 .... 28.000 28.000 .... 12,854 12,012 Property mortgages . ,....■ 2,100 .... 4,017 2,100 6,232 .... 88 255 2,183 2.440 ...... 2,743 8,668 Assets — 6.935 6,935 Plant and buildings . 130,624 132,272 Office equipment .... 636 \ 546 .... 5,976 7.461 Coal st’ook .... 4.465 7,412 Inscribed stock (par) ... 10,000 10,000 Plant replacement res . ... 7.473 9,469 Outstanding accounts .... 10,880 12,079 The total of the •gainst £178,906. assets Is £186,174,

N.Z. Guarantee Corporation, ord. South British Insurance (2) 0 6 0 2 12 6 1 8 0 1 13 6 AUCKLAND. £ s. d. Auck. Power Bd., 5J p.e., 1915 .. 1)7 10 0 Mt. Eden Borough, 5} p.c., 10(14 Commercial Bank of Australia 97 0 0 Union Bank (late sale Monday) 5 8 10 0 0 South British Insurance (3) 2 12 6 0 18 Vallov PnlUpriOH 0 10 3 0 15 3 YVailll Vr. ••••••» 0 2 3 CHRISTCHURCH. £ s. d. Commercial Bank of Australia, 0 14 5 Cum u i v • \ ■ / ... ±» 1 13 6 1 13 8 0 15 4 DUNEDIN. Sales reported:— £ s. d. Govt Bonds, 4j p.c., 1038 (2) .. N.Z. Breweries BO 10 0 1 14 0

Merino — .. 91 to 11 .. 74 to 8 Fine halfbred— Super, 5fl/58’s .... .. 8 to 9 .. 7 to 71 Medium— Super, 50/50's ... .. 04 to 74 Average .. 6 to 61 Coarse — Super, 48/50'3 .... .. 51 to 61 .. 5$ Fine crossbred — Super, 40/48'3 ... . • 5& .. si to 01 Medium— Super, 44/40 s ... .. 51 to 0 Average .. 5J Coarse — Super, 40/44 s .... .. 51 Average .. 51 Low — Super, 36/40 s •••• .. 54 Average .. 41 Bellies .. 44 .. 2

Lamb (c/cs.) ... 1,049,564 555,802 Mutton (c/cs.) ... 706,101 219,042 Pork (c/cs.) ... 43,853 Beef (ars.) 31,091 10,(Kk) Beef (boneless, In bag's) 39,369 11,561 Details of the exports for this season to January 15 are given by the Meat Producers’ Board, as tollow:— Beef. Mutton. Lamb. Pork. Qrs. C/cs. C/cs. C/cs. London .... 22,002 675,867 967,062 36,548 Southampton — 3,256 7.058 — Liverpool .. 2,479 15,»58 40,255 2,990 Glasgow ... 2,308 4,967 6,696 2,243 Avonmouth 1,414 6,003 26,305 2,072 Manchester — — 1,500 —— Vancouver . — 450 6 —— Honolulu .. 2,228 — 9 Halifax .., — — 300 — Other countries .... — — 313 — 31,091 706,1011,049,564 43,853

as follow: — Jan. 10 Jan. 26 Commonwealth — Doi. Dol. 5 p.c., Jan.-July, 195o . . GOJ 5 p.c., March-Sept., 1957 . 604 711 4} p.c., May-Nov., 1950 . New South Wales — .. 624 64 i 6 p.c., April-Oct., 1057 . 62 65 5 p.c., April-Oct., 1958 .. Queensland — . 634 65 0 p.c., Feb.-Aug., 1947 .. 85 7 p.c., April-Oct., 1042 .. •No eale. 87 06

Per ton. Per too. Copper— £ s. d. £ s. d. Standard, spot .... 44 18 1} 44 11 3 Standard, forward 44 18 10J 44 18 9 Electrolytic 47 0 0 47 5 0 to 48 0 0 47 15 0 Wire bars 48 0 0 47 15 0 Lead— Spot 13 12 6 13 6 3 Forward 13 13 9 13 7 6 Spelter — Spot 12 11 3 12 5 0 Forward 12 15 7i 12 10 0 Tin— Spot 115 3 9 114 11 3 Forward 117 3 9 115 8 9 Silver— Fine, per oz 13 15-16d. 13 15-16d. Standard, per oz. 15 l-16d. 15 1-lGd.