FINANCE AND COMMERCE

Dominion, Volume 24, Issue 149, 20 March 1931, Page 12

FINANCE AND COMMERCE

VERY STRONG DEMAND

: Wellington Stock Exchange 5 MARKET PRICES FIRM J The demand for stocks and shares shows np signs of weakening, and values continue firm. There are not now so many sellers as before, and the shares that are bdlng offered are mostly those for which there is scarcely any demand. There were half a dozen sales reported on the Wellington Stock Exchange yesterday. Government securities were in very strong demand with a firming tendency. The 4} per cent. Government stocks and bonds, 1938, 1939 and 1941, rose 10/- to £9O; the 5 1-8 per cent, stocks, 1937, were wanted at £94/10/-, and the bonds were 2/6 higher at £94/12/0. The 5} per cents., 1933, were 5/- higher at £9B, and the 5} nbr cents., 1041, were steady at £94/5/-. The 5} per cent, stocks and bonds, 1933 and 1930, were 5/- up at £9B/10/-. Auckland Harbour Board, 5} per cents., 1939, at £94, and Wanganui Borough 5} per cent., 19-14, at £97 were steady and unchanged. Bank of Australasia at £9/18/- were 7/higher and a sale was reported at £lO 2/6. Australian Bank of Commerce -were steady at 15/6, and Commercial Bank of Australia were a shade easier at 15/6. Eng; llsh, Scottish and Australian Bank were down 2/-, at £5/5/-. National Bank of New Zealand were steady at £5, and National Bunk of Australasia, £5 paid, were up 2/0 at £5/5/-; Bank of New South Wales were down 5/- at £27/5/-, but there was a sale reported at £27/10/-. Union Bank advanced 4/- to £B/7/- and a sale was reported at £B/9/-. For Dalgety and Co. there was a bld of £7/9/-, but sellers asked £B. New Zealand" Guarantee Corporation were a shade easier at 0/4. New Zealand Insurance were firm at 41/6, and South British Insurance were up 6d at 53/-. Christchurch Gas were firm at 24/-. and Wellington Gas were 3d higher at 26/6. Gear Meat were up 3d at 28/3. and New Zealand Refrigerating. 10/nald. were in demand at 3/3. Kelburn Trams were firm at 29/6 and tVellington Woollen were unchanged, the ordinary at £4/2/6 and the preference at £*/«/-• New Zealand Breweries were 5d higher at 38/-, Staples and Co. at 34/6 and Tooth’s Brewery at 21/6 were steady British Tobacco were 5d up at 30/-, Burns, Philp and Co. were unchanged at 3U/-. Electrolytic Zinc were firm, the ordinary at H/0, and the preference at 16/10. Whiteombe and Tombs were steady at 54/-. Mount Lyell were a shade firmer at 21/-. Yesterday’s Quotations Buying and selling quotations at yesterday’s final call on the Wellington Stock Exchange were as gellera

STERLING EXCHANGES London, March 17. The following rates on foreign exchanges are current to-day as compared with the cabled quotations on March 12 and par;—

Gold and Sliver. London, March 17. Gold—B4/10} per fine ounce. Silver—(Cash, 14} d per ounce; forward, 14 3 Cd. London, March 18. Gold.—Bl/10 per fine ounce. King Solomon Mine Advice has been received from the secretary of the King Solomon Deep Lead Limited, by the secretary of the Stock Exchange Association of New Zealand that the share register will be closed from March 23 to April 2 inclusive on account of the annual meeting, which Is to be held on April L AUCTION SALES TO-DAY. 235 Lambton Quay, 2.30 p.tn.—Sale freehold properties Ghuznee St. and Eg- ' mont St. (G. G. Tolhurst & Son.) 253 Wellington Terraco, 1.30 p.m.—Sale of furniture (Doherty Auctioneering Co.) 2a Luxford St., 2.30 p.m.—Sale of contractor's plant (E. Johnston & Co.) Bl Dixon St., 1.30 p.m.—Sale furniture (C. W. Price). Woolworth’s Bldgs., Cuba St., 1.30 p.m.— Sale furniture (Silverstone & Co.) •8 Manners St., 2p.m.—Sale furniture Ramsay Wilson). • Willeston St. —Sale carpets (E. Johnston * Co.) TO-MORROW. St. Albans Ave., Lower Hutt, 2.15 p.m.— Homes & sections CH, H. LelghtonJ,

DEALINGS ON 'CHANGE

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

LONDON STOCK EXCHANGE Banks and Debentures (Rec. March 18, 5.5 p.m.) London, March 17. On the London Stock Exchange to-day, quotations of bank shares and other corporation debentures and stocks compare with previous quotations as follow:—

NEW COMPANIES Recent Registrations Registration of the following new companies is reported in the “Mercantile Gazette”:— Vance-Vivian, Ltd., Wellington; private company. Capital, £BOOO into 8000 shares of £1 each. Subscribers: Wellington—G. F. Vance, H. N. Vivian 4000 each. Objects: To carry on the business of specialists in men’s wear, etc. Gordon Walker, Ltd., private company, Hastings. Capital, £250 into 250 shares of £1 each. Subscribers: Hastings—W. G. A. Walker 245, F. J. Tonkin 5. Objects— To carry on business as auctioneers, land and estate agents. Hawke’s Bay Distributors, Ltd., private company, Hastings. Capital, £lOO into 100 shares of £1 each. Subscribers: Hastings —Edith M. Roach, Flora M. Roach, 50 shares each. Objects: To carry on business of a storekeeper in all its branches. Judd Electric Stove Co., Ltd., private company, Wellington. Capital, £2OOO Into 2000 shares of £1 each. Subscribers: Wellington—D. Kerr, M. F. Judd, 1000 shares each. Objects: To carry on business of manufacturers of electric stoves. Gisborne Air Transport, Ltd., private company, Gisborne. Capital, £l7OO into 1700 shares of £1 each. Subscribers: Gisborne—L. B. Nicholls 100, J. G. Bray 12, O. S. Burt 13, W. H. Lett 50, S. A. V. Baring 100, E. R. Black 150, D. M. Black 50, Ormond Motors, Ltd., 200, G. A. Nicholls 900. Tolaga Bay—N. E. 11. Loisel 25; Tokomaru Bav—A. B. Williams 100. Objects: Land and aerial transporters. ' D.A.C., Ltd., private company, Gisborne. Capital, £12,650 into 12.650 shares of £1 each. . Subscribers: Gisborne—T. Adair 4900. H. Witters 2500. G, Glennie 2500, G. J. Gregory 2500, M. Adair 250. Objects: Gene- ■ ral drapers and importers. Hamptons, Ltd., private company, Gisborne. Capital, £lOOO into 1000 shares of £1 each. Subscribers: Gisborne—E. Hampton 750, V. 11. J. Clement 250. Objects: Butchery and incidental. Wool Realisjition Co., N.Z., Ltd., private company, Auckland, Capital, £B6OO, in 8000 shares of £1 each. Subscribers: Auckland—E. Lichtenstein and Co., Ltd., 1000, M. Lichtenstein 1000, W. E. Lewisham 500, W. S. G. Paton 1500, H. W. Frost 1000, W. Willis 250, R. Warnock 500. F. M. Winstone 250, J. Schischka 500. F. H. Jagger 500, P. W. J. Johnstone 600, A. Paykell 1000. Objects: Deal in farming and products. etc. K. System, Ltd., private comnany, Auckland. Capital, £l6OO, in 1000 shares of £1 each. Subscribers: Auckland—H. G. Kendal 1200, A. H. Gardner 150, E. H. Vanko 50. J. R. Morlev 100, R: Oliver 50, A.-B. Harper 50. Objects: Printers, signwriters, advertising contractors and, manufacturers of advertising novelties, etc. Ocean Investment Trust (N.Z.), Ltd., private company, Auckland. Capital, £2OOO, in 2000 shares of £1 each. Subscribers: Sydney—Ocean Investment Trust, Ltd., 1000;'Auckland— H. Morpeth 1. W. Willis 1, J. B. Paterson 1. G. R. Taylor 1, L. J. Thompson 1, W. J. Beckett 995. Objects: Sharebrokers, investment, lending agency and general incidental. Fairplace Ltd., private company. Capital, £lO.OOO, into 10,000 shares of £1 each. Subscribers: Maheno—A. L. Ayre and V. Ayre 4950 each. Oamaru —M. V. Bates, 100. Objects: Farmers, graziers, agisters, pastoralists, stockbreeders, sheepfarmers, contractors, merchants, traders, grain, seed and produce merchants, etc., fellmongers and woolscourers. Forders, Ltd., private company, Auckland. Capital: £3OOO, in 3000 shares of £1 each. Subscribers: Auckland—l. A. Forder 1500, W. A. Fordcr 1500. Objects: Deal in footwear, etc. National Brush Co.. N.Z. Ltd., private company, Auckland. Capital: £lOO, in 100 shares of £1 each. Subscribers: Auckland p. d. C. Luckie 50, F. H. Seccombo 50. Objects': Deal in brushes, etc. Treloar Bros., Ltd., private company. Capital: £5OOO. in 50 shares of £lOO each. Subscribers: Hamilton—J. Tfeloar 32, S. P. Treloar 16. Manurewa —C. I. Marks 2. Objects: Deal In milking plants, coach--builders, ete. „ „ x „ T ., , Universal Automatic Gates Co., Ltd., private company, Auckland. Capital: £2OOO, in 2000 shares of £1 each. Subscribers: Henderson —M. Jensen 500. Auckland—R. C. Cooke 500. W. Campbell 85, Auto Gate Openers. Ltd. 240, E. Proctor 15. F. M. Campbell 400, B. A. Major 200. Objects: Deal in patent rights, etc. Waiturua Hotel, Ltd., private company. Capital: £2OOO. tn 2000 shares of £1 each. Subscribers: Nihotupu—R. K. Wise 1000, R. W. Wise 1000. Objects: Hotelkeeper, etc. TARANAKI OIL FIELDS The Sixth Call The secretary of the Stock Exchange Association of New Zealand has been advised that the directors of Taranaki (N.Z.) Oil Fields, No Liability, have struck a call (the sixth) of sixpence per share, payalble on April 8. New Zealand shareholders may pay their calls at the companv’s Gisborne office. Taranaki (N.Z.) Oil Fields, N.L., report issued for the week ended March 14 is as follows: —Waitangi No. 1 well: Hole clear to 1200 feet, at which point ground caving in. On March 13 ran 150 bags of cement. . Will teat this March 20.

GREAT CLEARANCES

London Wool Sales MARKET VERY FIRM London, March 18. Offerings at the wool sales to-day were 11,736 bales, including 4195 New Zealand. Practically all were sold. There was but a small selection of merinos, and a large offering of greasy crossbreds and a moderate supply of scoureds and slipcs. Business was excellent with more general competition and prices were firm at the full late rates, and occasionally in sellers’ favour. Realisations were as follow:—New Zealand greasv crospbreds, “Mohakatino,” lOd to 9}d; "Mangaruhe,” 10}d to 9}d; “Ashcott,” 9}d; “Hularau,” IOJd to lOd; merinos, “Bank House,” 12}d to 12d. SYDNEY WOOL SALES Strong General Competition (Rec. March 19, 9.35 p.m.) Sydney, March 19. At the wool sales to-day, 10,300 bales were offered, and 9963 sold at auction, also 1113 privately. Under strong general competition the market closed at the best rates of the week for all descriptions. The average prices ruling this season in the Sydney wool market have been as

WELLINGTON’S TURN TO-DAY Good Rise Expected The keenest interest, not merely locally, but throughout the Dominion, centres on to-day’s wool sale, which will start in the Town Hall at 9 a.m. In conformity with London market rates, a substantial advance in prices is confidently anticipated, and with a full bench of buyers, competition should be extremely keen. This Is the first catalogue of 20,000 bales to be offered at a Dominion wool sale this season, and as the offering,ls a good representative one, there should be an excellent clearance. Brokers’ offerings In the order of sale are as follow:— Bales. Murray, Roberts, and Johnston and Co. . 2889 Levin and Co. ." 3130 N.Z. Loan and Mercantile 4319 N.Z. Farmers’ Distributing 1295 Wairarapa Farmers 1055 Abraham and Williams and Wright, Stephenson 2684 Dalgety and Co 4814 Total bales 20,166 An advance of only 2d a lb on to-day's catalogues will represent a very considerable addition to the aggregate cheque to growers. NEXT AUCKLAND SALE Larger Catalogue Expected The improvement in the wool market has increased the amount of wool coming forward for the Auckland sale on March 27. It is considered that the total catalogue will be considerably in excess of earlier estimates. Many growers who had previously decided to hold right through the winter, are now arranging to offer their wool. It Is too early to estimate the total catalogue. Although approximately 45,000 bales are known to be held in the Auckland Province, it is not considered likely that many more than 20,000 will be offered next week. Brokers are not prepared to forecast prices, but the general belief is that the demand will be keen up to limits. At southern sales recently the demand for fine wools has been above the London parity. RABBITSKIN MARKET London Sale Prices Dalgety and Company, Limited, have received a cable from their London office giving the prices realised at the March rabbitskin sales In London. The January prices are also given as a comparison:—

LONDON TALLOW MARKET This Week’s Sale London, March 18. At the tallow sales 1010 casks were offered and 208 sold. Fine mutton was easier, but other sorts advauced about two shillings per cent. Dalgety and Company have received the following report from their head office:— London tallow sales: 1035 casks offered; 281 sold. Market unchanged since last week’s auctions. Forward market very quiet. The Bank of New Zealand produce department has received the following advice from its London office, dated March IS:—Tallow: There is a fair demand. Current quotations: Good mutton, 23/- per cwt.; good beef, 22/0 to 23/-; good mixed, 22/6; gut, 16/- to 19/-. Increases of Capital The following Increases of capital are reported In the "Mercantile Gazette”: — Thoroughfare Advertising Co.. Ltd., Auckland. Capital increased to £ GOOD by creation of 1000 non-cumulative pref, shares of £1 each. Beautiful Karorl Extension, Ltd.. Wellington. Capital Increased from £9OOO to £9500 by the creation of 500 new ordinary shares of £1 .each-

grain and produce

Canterbury Markets PRICES UNCHANGED Dominion Special Service. Christchurch March 18. Not a great deal of business has been done since the week-end and in no instance is it necessary to alter the list of quoted prices to farmers. . , Milling wheat continues to come forward in ample quantities. While some of Lt is not in the best of condition, generally speaking the quality is good. The potato business is very quiet at the moment. The little.business passing is with the South and the West Coast. Nothing is being sent to the North Island,. The Auckland market continues to be supplied from Pukekohe, and the Wellington market from Manawatu. Evidently there is sufliclent supply on hand there to meet all inimediate requirements. A little forward business is reported. The country crops in Canterbury are reported to be in good condition, the recent rains having been beneficial to them. The crops should turn out well unless they are affected by early frosts or Hoods. The onion market is also quiet, owing to supplies from Melbourne having come forward from the North Island. A small shipment of Melbourne onions is also reported to have reached the Dunedin market. The price to growers on trucks is from £3/15/- to £4. The seed market is still in a state of quiescence. The following are quotations for produce to be paid to farmers, on trucks, free of commission, sacks extra, except where otherwise stated:— Wheat (new season’s; nominal)—Tuscan, 5/3 on trucks. Fowl wheat, to 5/3; spread delivery, 4/11, f.0.b., s.e., prompt 'delivery. Oats (new season’s) —Algerians, 1/10 to 1/11. A Gartons, 2/1; B's, 1/11, Barley—Cape, 2/9 to 3/-; malting, 4/-. Potatoes (new season’s) —£3 a ton. Onions (new season’s) —£4. Chaff—£3. Red Clover—4d. per lb. (nominal). White Clover —7d. to fid. Italian Ryegrass—2/-. Perennial Ryegrajss—2/6. Cocksfoot —Akaroa, 3d. to 3}d.; Plains, 2}d. to 3d. Bran—Local, £5/10/- a ton, f.0.b.; shipping, £4/10/- a ton, f.0.b.; 10/- extra for smaller packings. Pollard—Local. £6/5/- a ton. f.0.b.; shipping, £4/15/- a ton, f.0.b.; 10/- extra for smaller packings. Flour —Wholesale price, £l6/15/- a ton for 2001 b. sacks, with the usual increments for smaller packings. Overseas Grain Markets (Rec. March 19, 8.20 p.m.) Sydney, March 19. Wheat.—The market is inactive, but prices show a firmer tone; farmers’ lots 2/1} ex trucks, Sydney; 1/6} per bushel at country stations. Flour is unchanged. Bran, £3/15/- per ton. Pollard, £4 to £5 per ton. Potatoes, Tasmanian Brownells £7 per ton, -Bismarks £6/10/-, Victorian £5/10/- to £6. Oats, white 2/6 to 3/- per bushel, Algerian 2/9 to 3/-. Maize, 3/6 per bushel. Onions, Victorian, £4/10/- to £5. Adelaide, March 19. Wbeat.-Growers' lots, 2/0} to 2/1 per bushel; flour, bakers’ lots, £6/10/- per ton; bran, £3/15/- per ton; pollard, £4 10/- per ton. . London, March 18. The wheat cargo market was featureless to-day. Sellers were willing to accept lower prices, but buyers were reserved. New York, March 18. Chicago Wheat.—May. 82 7-8 cents; July, 62J cents; September, 62 7-8 cents. FRUIT AND VEGETABLES Wellington Market Prices Values of fruit and vegetables Bold at Wellington yesterday are quoted by Market Gardeners Ltd. as follow:— Fruit—Tomatoes, 1/- to 2/10 per case; grapes, Bd. to lid. per lb.; Cape gooseberries, 6/9 per case; Cox apples, 5/3 to 7/- per case; Jonathan apples, 5/- per case; pears, 4/9 to 10/- per case; peaches, 5/- to 6/- per case; apricots, 5/- to 5/10 per case; nectarines, 4/- to 5/10 per case; plums, 5/- to 6/- per case. Vegetables.—Potatoes, 7/- to 10/6 per bag; onions, 6/6 to 7/- per bag; parsnips, 3/- per case; beetroot, 1/- to 1/6 per case; lettuce, 3/- to 5/- per case; cauliflowers, 3/- to 7/D per case; cabbage, 2/- to 4/1 per case; marrows, 2/- to 2/6 per case; swedes, 1/9 to 2/6 per case; peas, 5/3 per case;.potatoes, 4/- to 6/- per case; french beans, 7/- to 8/6 per ease; butter beans, 8/6 to 10/- per case; scarlet runner beans, 7/- to 8/6 per case; spinach, 4/6 per case; celery, 1/- to 3/6 per bunch; rhubarb, 5/to 5/6 per dozen bunches; cauliflowers, 8/6 to 9/9 per sack; carrots, 2/9 to 3/- per sack; beans, 7/- per sack; swedes, 2/- to 3/2 per sack. W. Burbidge & Co. report a keen demand at yesferday morning’s sales for plums, nectarines, quinces, dessert apples, and dessert; pears. New laid eggs are very plentiful, and prices are falling. Potatoes are also coming in more freely and a drop In price is’ likely. Prices obtained yesterday morning are as follow:— Fruit.—Apples, Cox’s, 8/- to 11/-; Gravensteins, 7/- to 10/-; Delicious, 6/- to 8/-; Jonathons, 6/- to 8/-; scarlet and Worcester Poarmains, 5/- to 7/-; cooking apples, 4/- to 5/- per bushel case. Pears. Williams 9/- to 12/-, Louis Bons 9/- to 10/6, Fertility 6/- to 6/6; cooking pears, 4/- to 4/6 per bushel case; quinces, 7/- to 8/- per bushel; nectarines, 7/- to 7/6; plums, Pond’s seedling 5/- to 5/6, Black Diamonds 6/6 to 7/-, Octobers 10/- to 12/-: peaches, Kalamazoo 6/- to 7/-, Muirs 5/-, Hobbs Late 4/- to 5/6; apricots, 7/- to 8/-; Hawke's Bay tomatoes, 2/- to 3/-, all halfcases; Californian oranges, 28/- to 30/- per case. Vegetables.—Potatoes. North Island Whites £6/10/- to £7/5/- per ton, Sutton’s £B/10/- per ton; onions, New Zealand 7/-, Australian 7/6 per cental bag; swedes, 4/to 4/6 per cwt.: red pumpkins. 9/- to 11/per sack; french beans, 3d. per lb. Various.—New laid eggs 1/6, storekeepers’ and other second-grade lines 1/4 to 1/5, pullets’ 1/1 to 1/2 per dozen; separator butter, BJd. for bulk and B}d. to 9d. per lb. for pats; N.£. walnuts, 7}d. to Bd. per lb. Glbos. chaff, £7 for new and £8 per ton for old. DAIRY PRODUCE London Markets Quiet BUTTER AT 118/Joseph Nathan & Co. Ltd. have received the following market report from Trengrouse & Nathan Ltd., London, dated March 18:—New Zealand butter, 118/- per cwt.: New Zealand cheese, white 55/-, coloured 57/-. Both markets very quiet. The New Zealand Loan and Mercantile Agency Company Limited have received the following advice from their London house, dated March 18:—Dairy produce (last week’s figures in parentheses): Butter, N.Z. choicest salted. 118/- to 119/- per cwt. (118/- to 120/-). Cheese, white, 56/to 57/- per cwt. (55/- to 57/-); coloured. 58/- to 59/- per cwt. (58/- to 59/-). Markets slow. LIVE STOCK MARKET Pahiatua Sale Dominion Special Service Masterton, March 19. A fair yarding of sheep came forward at the Pahiatua sale. Wright, Stephenson and Co.’s entry comprised breeding ewes which met with keen competition. Prices were as follow: —Account Awapiripirl: Two-tooth ewes, 10/1; four and six-tooth ewes. 9/6; four-year ewes, 9/7; five-year ewes, 5/7; other vendors, two-tooth ewes, 9/9; four and five-year ewes, 6/- to 7/6. Bankruptcies The number of bankruptcies registered In the Dominion during the first month of this year shows a very big increase over those for January, 1980. In the North Island there were 40 bankruptcies in January ns compared with 15, an increase of 200. per cent.; in the South Island the figures wore 13 against S, an Increase of 62 per cent. The total bankruptcies for the month were 59 against 23, au increase of 30, or about 150 per cent. The deeds of assignment show no clxangeu being 15 In ilwtli ruonthn.

N.Z. GOVT. LOANS— £ w — - b. d. £ S. d. 4} p.c. Insc. Stk., 1939 96 0 0 — 54 p.c. ditto, 1933 ... 54 P.c. ditto, 1936 ... 98 19 98 10 0 0 99 5 0 51 p.c. ditto, 1941 ... 94 5 0 51 p.c. ditto; 1933 ... 98 0 0 — 55 P.c. ditto, 1937 ... 94 10 0 — 44 p.c. Bonds, 1941, 1939, 1938 96 0 0 — 51 p.c. ditto, 1933 and 1936 98 10 0 — 51 p.c. ditto, 1933 ... 98 0 0 —• 51 p.c. ditto. 1937 ... 94 12 6 — debentures— Auckland Harb. Board, s 54 p.c., 1939 94 0 0 — Wanganui Boro., 5J p.c., 1944 97 0 0 — Otago Harb. Bd., 5} p.c., . 1938. int. & prin. pay4< able in London or N.Z. — 104 0 0 BANKS— Australasia 9 18 0 •10 5 0 Aust, ot Commerce ., Commercial of Aust. 0 15 6 ——• (ord.) 0 15 6 — Commercial Bank. Co. Engi'isli, s'cot. & Aust. 5 5 0 16 10 0 National N.Z 5 0 0 — jfational A/asia (5) . 5 5 0 —— New South Wales ... 27 0 0 —— New Zealand — 2 12 0 Hnion-of Australia ... 8 9 0 — FINANCIAL— Dalgety and Co T 9 0 8 0 0 Abraham and williams (pref.) —— 4 7 6 Equitable Bldg. Co. . —— 8 8 0 Goldsbrough Mort .... 1 1 10 1 2 6 N.Z. Guar. Corp, (ord.) 0 6 4 0 6 6 Well. Trust and Loan 6 10 0 — Well. Deposit & Mortg. 0 9 9 GAS— Christchurch 1 4 0 — Gisborne 0 10 0 Wellington (ord.) ... 1 6 6 — INSURANCE— National 0 12 9 0 13 4 New Zealand 1 6 2 2 9 South British 2 13 0 — MEAT PRESERVING— Gear 1 8 3 —— N.Z. Refrigerat. (10/-) 0 3 3 0 4 0 TRANSPORT — Kelburn Tram (ord.) 1 9 6 — WOOLLEN4‘ Wellington (ord.) ... 2 6 — Ditto (pref.) 4 . 5 0 —— COAL— Waipa (in liq.) 0 6 6 —— timber— National — 0 9 0 BREWERIES— New Zealand 1 18 0 Staples and Co Tooth’s 1 14 6 — 1 1 6 1 2 3 MISCELLANEOUS— 0 Burns, Philp and Co. 1 10 —— British Tobacco (ord.) 1 10 0 •1 10 5 Colonial Sugar — 32 5 0 Dental and Medical .. —— 0 10 0 Electro. Zinc (ord.) . 0 11 6 — Ditto (pref.) Farmers’ Auction, (pref. 0 16 10 — ) — 0 16 6 .Howard Smith (ord.) — 0 8 7 National Electric .... Shariand & Co. (ord.) —- 0 10 9 — 1 0 6 Whitcombe and Tombs 2 14 0 —- Wilson’s Cement —— 2 0 3 OIL— Blenheim — 6 0 Taranaki — 0 3 0 MINING— Mount Lyell 1 1 0 *Cum. dividend.

March 17. March 12. Par. N. York, dol. to £ 4.85 27-32 4.85 29 32 4.866 Montreal dol. to £ 4.85 3-32 4.85 11-1G 4.8G6 Paris, fr. to £ Brussels, bcl. to £ Geneva, fr. to £ Amst'dam, fl. to £ Milan, lire to £ Berlin, inks, to £ St’holm, knr. to £ C’hagen, knr. to £ Oslo, , knr. to £ Vienna, sehgs. to £ Prague, knr. to £ Hel’fors, inks, to £ Madrid, pes. to £ 124.135 34.8G5 25.245 12.12} 92.735 20.40 18.14} 18.101 18.16 34.56a 164 193.125 45.95 124.145 34.845 25.255 12.12 92.755 20.41 18.14} 18.161 18.16} 34.565 164 193.125 44.70 124.21 35.00 25.221 12.107 92.46 20.43 18.159 18.159 18.159 34.585 164.25 193.23 25.225 Lisbon, esc. to £ 108.25 108.25 — Athens, drach. to £ 375 375 375 Bucharest, lei to £ 817 817 813.6 Rio de J., p. to mil. 41-32 4 1-16 16 B. Aires, p. to peso 391-8 39 1-8 47.62 M. Video, p. to peso 37} 38 3-8 51 Calcutta, p. to rup. 1713-16 1713-16 18 Shanghai, p. to tael 16 15} —• H.-Kong, p. to dol. 121-8 117-8 Y'hama, p. to yen 2413-32 2413-32 24.58 Batavia,'* fl. to £ 12.13} — 12.107

WELLINGTON. £ s. d. Bank of Australasia 10 2 6 Bank of New South Wales 27 10 0 Union Bank .............. 8 9 0 N.Z. Refrigerating, 10/- paid ... 0 3 6 0 3 5 Wilson’s Cement 2 0 3 AUCKLAND. £ s d Bank of New Zealand (2) 2 11 6 N.Z. Insurance 2 2 0 Goldsbrough, Mort ........ x ._.. ? . 12 4 Auckland Gas, contr. (late Wed). 0 16 10 Milne and Chbyce, deb. stock.... 0 19 6 0 15 6 Govt. Bonds, 5J p.c., 1933 99 0 0 CHRISTCHURCH. Bank of New Zealand 2 11 6 Union Bank of Aust 8 12 0 Goldsbrough, Mort 12 0 N.Z. Refrigerating, 10/- paid (3) 0 3 9 Do. (3) 0 3 11 N.Z. Breweries 1 18 1 Tooth’s Brewery 1 1 10 Electro. Zinc, pref 0 17 8 Waihl 0 15 4 Do. (2) 0 15 3 Sales reported— Commercial Bank of Aust. (4).. 0 15 9 Do. (2) 0 15 9 Dalgety and Co. 7 15 0 N.Z. Refrigerating, 10/- paid .... 0 3 9 Do 0 3 10 Do 0 4 0 Tooth’s Brewery 1 2, 1 Crown Brewery 0 4 6 DUNEDIN. King Solomon 0 1 7} Sales reported— Union Bank of Aust 8 7 0 King Solomon (2) 0 17 N.Z. Refrigerating, 10/- paid .... 0 3 10

Banks— Feb. 17. £ s. d. Mar. 17. £ s. d. Australasia .7 0 0. 8 5 0* New South Wales . 21 10 0 23 0 0* Union of Australia 4 15 0 7 0 0 National of N.Z. . New Zealand, 4 p.c. . 4 0 7J 4 19 4J guar, stock .... . 95 0 0 95 0 0 N.Z. shares .260 2 16 0 N.Z. Loan and Mercantile first mortgage, 4 p.c. debentures N.Z. Loan and Mer09 5 0 09 0 0 cantile ordinary stock 62 10 0 53 0 0 P. and 0. deferred jLondon, March 18. stock, 32/7$.

follow: — Per bale. Pence Week ended. £ s. d. Per lb. Sept 20 ....... .... 11 14 0 8.0 Sept. 27 ... 11 8 5 8.5 Oct 11 ... 10 19 5 8.2 Oct 18 ... 10 18 10 8.2 Oct. 25 ... 10 15 2 8.1 Nov 1 ... 10 7 11 7.8 ... 10 10 5 8.3 N n v, 2*2 ........ ... 10 10 9 8.3 Nov 29 ... 10 14 7 8.3 ... 10 9 11 8.3 Doc 20 ........ ... 9 13 9 7.6 ... 953 7.2 Jj)n 17 ........ ... 9 11 5 7.6 Jan. 31 ... 9 7 11 7.3 Fob. 7 ... 11 4 4 8.8 Feb. 14 ... 11 10 11 9.1 Feb 21 ........ ... 12 2 0 9.6 Feb. 28 ... 12 16 7 10.1 March 7 ... 13 7 9 10.8

January March d d d d Kull winters, prime, thin ngltg Not quoted 70 to 72 Full winters, prime, thin pelts, slightly spotty 53 to 57 56 to 66 Full winters, medium and stout pelts .... 55 to 70 63 to 78 Second and late winter (thin pelts) 32 to 48 28 to 43 Second and late winter (stout pelts) 40 to 50 36 to 68 Early winter and first incoming . 45 to 60 48 to 61 Late autumn ... 30 to 35 34 to 45 Early autumn .. 15 to 20 13 to 16 Outgoings and springs 12 t.0 25 11 to 27 Autumn racks ... Not quoted 0 to Hi 12 Light racks 14 to 18 11 to Spring and summer racks (thin and/or medium and stopt pelts) 9 to 11 8 to 10 Inferior and damaged (fair to good) 15 to 18 12 to 20 Inferior and damaged (medium to poor) 7 to 14 7 to 10 Milky (fair to good) Not quoted 111 to 15 Milky (medium to poor) 9 to 12 8 to 10 Kittens and suckers 5 51 to 6} Black and silver grey (furriers) Not quoted 21 to 48 Black and silver grey (autumn, spring and summer Not quoted 8 to 12