FINANCE and COMMERCE

Dominion, Volume 25, Issue 68, 14 December 1931, Page 14

FINANCE and COMMERCE

STOCKS AND SHARES Last Week’s Business ■ s ' GOVERNMENT LOANS FIRM The stock and share markets were more last week* the heaviest trading beixut done in Christchurch. Elsewhere turnover was not as large a in, the week was-the marked firmintr in GoVCmmCIKt SeCUWtWS. oFm’pS rose appreciably, cent. 1933. stocks sold at ?.0S £ffe/15/-. £99 and £99/2/6, and the There was a fairly good business lOC^^hir« n we r “- in demand. Commercial Bank of Australia, ordinary, W I? at 16/2^’16?8J tr Sfs halfthe interim dividend is payable> m jebru X Bank of New Zealand, which sow ex-dividend failed the« price. Early in the week they changed hands at Th.™ ,£». . de Mort and Co. considerable support, and sold freely at 22/6 to 23/10, while in the Previous week 22/9 was the highest price realised.• Th concern passed the interim dividend, ana past financial year the dividend -rvma 5 ner cent. Dalgety and Co- were at*£B/2/6 and *»/3A while in. the previous week they made £ Y\7/- to f B/-. F Cnq shares were in good demand, out slow of “ Auckland, Wellington and Christchurch Gas Companies dose their accounting periods at the end of month, and the final dividends l nsid early in February. Last week Auckland &IS sold at 23/7, and Wellington Gas ordinary, at 26/6. In recent weeks a little business has been done in Wellington Woollen, both ordinary and preference but the shares, which are £5 paid, Irakta discount. I*st week the ordu£ ary shares changed, hands at £4/6, the same as in the previous week. New Zea land Refrigerating, 10/- paid, were active and sold at 4/5, 4/7, 4/10, 4/11, 5/nnd 5/1 On. one day there were sales in Christchurch of 16 parcels, all at 5/-, per New.. Zealand ‘ Breweries showed Ja firming ‘tendency, with sales at . 28/o, wtTlm. 2S/U, "J'ffiaaaleTat 26/3,26/9, 27/6, and ‘27/- Colonhandset while the highest prices realised in the previous week was £36/10/-. , WELLINGTON EXCHANGE Saturday’s Quotations Stock Exchange were as follow.

and principal payable in London. DEALINGS ON ’CHANGE _ I Sales in the Dominion The following sales were recorded on the stock exchanges of the Dominion oh Saturday:—

LONDON WOOL SALES Finer Sorts in Demand g GOOD COMPETITION London, December 11. ‘ Offerings at the wool salts to-day were 10,400 bales,; including 13(4 New South Wales, 911 Queensland, 1311 Victorian, 476 Westralian, 6246 New Zealand. Approximately 7560 bales were sold. There was good Home and Continental competition at firm rates, especially for the best merinos and scoureds, and merino clothing. _■ , , Realisations were: Queensland, Eddington,” 2Sd to 27}d. . These were the highest prices made at the present sale. The samebrandl of combings brought 22}d to 20Jd, Victorian comeback made 19d to lolu, creasy New South Wales merino combing, “Bouyeo,” brought 12}d to 12dI; Westralian, “Murchison,” Hid to 10}d. New Zealand halfbreds, branded Glenfield,” sold at 12d to 10id i , crossbreds, “More,” sold IOJd to Bid; lamb slipes, “Eclipse,” made 12d to 10}d. Murray, Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated December 11: —Competition good. All sections operating freely. Greasy merino and crossbred market shows no material change. Crossbred scoured, except the finer descriptions, declined 5 to 10 per cent. • SHEEPSKIN MARKET , London Sale Prices Dalgety and Company have received the following report from their head of London Sheepskin Sales. —Offered 8788 bales; sold 6590 bales.. The following is the range of prices:—

The New Zealand Loan and Mercantile 'Agency Company, Limited, have received the following advice from their London house.: dated December 11 :— Sheepskins: The position of the market as compared with preceding auctions, prices are lower 5 per cent, to 7} per cent, for combing crossbred; and lower about 5 per cent, for clothing crossbred. Demand active. Current quotations for New Zealand sound sheepskins:— 56/58 full woolled, 6d; J woolled sd; i, woolled, 4|d. ... ’4B/50 full woolled, old; 1 woolled, 4}d, } woolled, 41d. , , .. , . ' 44/46 full woolled, 4}d; 2 woolled, 4}d , } woolled. 41d. .... 40’s, full woolled, 4}d; ? woolled, 41d, i woolled, 4}d. j■ Crossbred short and shorn, 2}d-4}d. FOREIGN EXCHANGES Sterling Slightly Firmer London. December 10. Sterling improved on foreign exchanges to-day and in the stock market there was a sharp rally in British funds. The movement is generally attributed to yesterday s optimistic statement by the Chancellor of the Exchequer on Budget prospects. The following rates on foreign exchanges are current to-day, as compared with the cable quotations on December 8 and •■Par: —' ■ - " Dec. 11.,Dec. D. Par.

Gold and ’ Silver. London. December 11. Gold—£6/5/- per fine ounce. Silver—Cash, 20 7-16 d per ounce; forward, 20 5-Bd. London, December 12. Gold, £6/2/9 per fine ounce. BRITISH TRADE RETURNS Increase in Imports London, December 11. The Board of Trade returns for November show that the value of imports last month compared with those of November of last year increased by £3,799,000, but exports decreased £12.193.000, and re-exports were down £1,881.000. The principal increases in imports were: Iron and steel and manufactures thereof, £957,000; machinery, £580.000 : woollens and worsted yarns and allied manufactures. £734,000; chemicals, drugs and dyes, £980,000. Decreases in imports were: Meat, £846,000: tobacco, £1,027,000; wood and timber, £550.000. Decreases in exports were: Fofod and drink, £l,020,00Q; iron and steel and manufactures thereof, £647,000; machinery. £709.000’; cotton and yarns and manufactures. £808.000; woollen yarns and manufactures. £802,000; vehicles. £4.273,000. . Official Wireless Rugby, December 10. Preliminary figures of British overseas trade in November again show an increase of imports, the value of which was greater by £2,500.000 than in October. The first order made under the Abnormal Importations Act did not come into operation until November 25, and the return is affected by the excessive imports received in anticipation of the order. Exports and re-exports during November showed a slight decrease on the previous month. King Solomon Return By Telegraph—Press Association. Invercargill. December 11. The manager of the King Solomon deep lead mine reports a wash-up for the week of 1520 z. 17dwt.

Nokomai Sluicing Co.

By Telegraph—Press Association. Dunedin, December 11. At a meeting of the Nokomai Sluicing Company it was stated that the estimated value of the company’s acreage was £7OOO, when gold was £4 ah ounce. Since then it had gone up to £6/0/10, plus exchange, bringing th* value of the acreage to £124)00,.

PRICES AGAIN LOW

Butter Weak and Irregular CHEESE MARKET DULL Due largely to heavy arrivals the London butter market was weak and irregular last week. The closing price for N.Z. ealted was down to 102/-106/-., representing a decline of 4/- to 5/- a cwt. on the previous week. The cheese market was also very dull, N.Z. white being down 3/- and coloured 1/- to 2/- a cwt. compared with the previous Friday. Retail prices in London are unchanged—N.Z. butter at 1/2 and Danish at 1/4, and N.Z. cheese at 9d. a lb. « The Dairy Board’s London office reports the following prices on Fnday, those for the previous week being shown in parentheses:— Butter. New Zealand salted, 102/-106/- (107/110, December 12, 1930, 112/-116/-); ST® sft- ®> ’Si 100/-IOV- W 108/-) ; unsalted, 108/-110 (108/-112/-)-Argentine, unsalted, 90/-100, ex 102/132- f.o.b.'; 140/-spot (128/-; 13 Duteh 6/ ‘un S alted, 144/-146/- (144/Siberian, 94/-96/- (95/-S6/-). Ukranian, 93/-96/- (96/-). The board has also received the following advice from its. agents in Canada :— Butter: New York, 30} cents; Montreal, 22 cents a lb. Cheese. New Zealand, white, 63/-64/- (66/67/-, December 12, 1930, 62/-65/-) ; coloured, 60/-62 (62/-63/, December 12, 1930, 60/-63/-). 60/-64/- equals apir S“l£. <-i: »>- coloured, Canadian, white and, coloured, 60/I*o/finest farmers, 92/-100/- (92/10 Deliveries and .quantities iin store in London are as follow, those of a year ago being shown in parentheses: Deliveries. In store. N.Z. butter, tons 1.680 (2480) 3,815 (2653) Aust, do, tons 1,675 (1262) 1,512 (550) N.Z. cheese, crates .. 15,271 (25,000) 30,625 (37,758) Can. cheese, boxes .. 24,500 (17145) 220,772 (246,700 .' Agents’ Reports. The New Zealand Producers’ Co-oper-ative Marketing Association’s weekly cabled market report from London, dated December 11, is as follows: —Butter: Market weak. New Zealand finest grade 106/-: first tirade 102/-; unsalted 116/to 120/-) ; Danish 140/-; Siberian, 94/-. Cheese:, Market slow. New Zealand white 63/- to 64/-; coloured 60/- to 62/-; Canadian white and coloured , 66/- to 70/- ' , . ' Mr Thomas Gray has received the following .report from Mr. A. C. Rowson, London:—-Cheese: Deliveries, N.Z. and Australian, 15,271 crates; Canadian, 24,456 boxes. Stock, N.Z. and Australian, 27,120’ crates; Canadian, 229,772 boxes. Price, white 62/-63/-; coloured, 60/- 61/-. The demand is slow, and the market weak. Butter: 102/- first grade; 104/finest. The demand is slow, and the market weak. . Samuel Page and Son, London, report to Dalgety and Co., Ltd. Butter and cheese, 2/- per cwt. lower. Markets weak. LIVE STOCK MARKET Feilding Sale At the Feilding sale on Friday, report Associated Live Stock Auctioneers, Ltd., fat sheep were yarded in smaller numbers, and there was an easier tendencj • There was a moderate* entry of store sheep, and although prices were somewhat easier, a fair clearance was effected. The bulk of the yarding consisted of store wethers, which met rather a dragging •market. ' ' The fat cattle pens were well filled, and met a fairly difficult market, the demand being mostly for lighter sorts. Prices generally indicated a slight decline. In the store cattie section the pens * were again well filled, chiefly with station yearling -and two and three-year-old steers. At the start the demand was brisk, especially for two and three-year-olxls, but as the sale progressed the demand eased, there being little inquiry for yearling Steers and female cattle. In the dairy section the demand for heifers and cows close to profit was keen, but small and backward sorts were very difficult to qU Fat sheep: Fat wethers, 11/- to 12/6; light fat wethers, 8/-; fat ewes, a/-, 0/10, 6/-, 7/1, 7/4, 7/9, 8/-, 8/6; fat woolly hoggets, 10/6, 10/9, 11/9, 13/-; shorn fat hoggets, 8/6, 9/ 8 - iO/a. 11/2, 12/9; •fat lambs. 10/2, 10/6, 11/-, 12/-, 13/-, 14/-. Store sheep: Two-tooth wethers, 6/2, 6/11, 7/4, 8/6, 8/9; two-tooth ewes, 6/1, 9/6 to 10/6; ewes with lambs,at foot, to H/6; aged and store ewes with lambs, 1/11, 3/2, 4/6. Fat cattle: Light fat bullocks, £5/12/-, £6/10/-; fat heifers, £4/15/-, £5, £5/3/6; light fat heifers, £2/12/6, £2/14/-, £3; fat cows. £3/14/-, £4, £4/7/-, £4/14/-, £4 18/-, £5/10/-; light and unfinished cows, 30/-, 35/-, £2/15/-. Store cattle: Three-year-old P.A. steers. £2/3/6, £2/19/-, £3, £3/2/6; three and four-year P. A. steers, £3/10/-, £4/5/-, to £4/12/-; two-year P.A. steers, £2/13/-;, £2/15/-. £2/19/-; store cows, 10/-, 12/6, 15/-. £l, to £l/2/6. Bulls : £l/5/-. £-• £2/5/-, £2/10/-, £4; yearling bulls, £l, £l/5/*- v .. Dairy cattle: Springing heifers, ±4, £5, £6,' £6/10/-, £7/5/-; heifers, r.w.b., £2/5/-. £2/10/-. £3; heifers, m milk. £3 5/-; dairy cows. 27/6, £2/15/-, £ B /11/®’ £4/2/6; vearling Jersey heifers, £l/12/6, £l/15/-, £2, £2/10/-, £3, £3/5/-. South Taranaki Sales The following sales were held last week by the. Farmers’ Co-op. Organisation Society of N.Z., Ltd.: — Waverjey: A small entry, mostly store cattle and bulls. Bulls met a ready sale to works’ buyers at £3 to £5; store cows, 18/- to 26/-; light fat, 35/fat, £3 to £4/2/6. . Inglewood : Yearling heifers. £2/19/-, fat cows, £5/18/-; dairy cattle, heifers 4 £6/15/- to £7/10/-; other to £3: cows, £3/15/- to £4/5/-; others, £2/10/-. ; Tlnwi ra: About 30 horses met keen competition and sold at £l6 to £27. Okarito Gold Dredging Co. Dominion Special Service. Dunedin, December 11. Mr. J. E. Wheeler, chairman of directors, presided at the third annual meeting of the Okarito Five Mile Beach Gold Dredging Company to-night. Moving the adoption of the report the chairman said that from June 16, when dredging was started, until October 3, a total of 1030 oz. of gold had been won, giving an average of over 640 z. a week. The directors were well satisfied with the claim and the prospects ahead, but did not propose to mark time. Instead, they intended to effect improvements wherever possible. The report and balance-sheet were adopted. Following the annual meeting, nn extraordinary general meeting was held, at which a resolution wns adopted amending the articles of association to provide that "the directors may from time to time pay to the members such interim dividends ns in their judgment the position of the company justifies.” This means that the comnnny has reached a stage at which it is able to pay dividends within less than six months after the commencement of ( oDeratio»a»

LAMB MARKET EASIER

Australian in Heavy Supply MUTTON TRADE SLOW The lamb market is still affected by large supplies of Australian lamb. Old season’s New Zealand lamb slightly easier, but stocks of'New Zealand lamb are now small. Mutton market: Wethers dull with trade slow. ’ Ewes quiet with slightly better demand for lightweights. Beef market: Little 'doing owing to plentiful supply of Argentine chilled beef. New Zealand porker pigs: Prices easier and trade continues slow, owing to large supplies of Home killed. The above report, dated December 11, has been received by the Meat Board from its London office, which advises that the following are the approximate average prices realised for the week ended December 11, based on actual transactions of wholesale quantities of the descriptions of meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield market and/or ex London stores. Prices for the two previous weeks are also shown : — New Zealand Sheep.—Canterbury and North Island, selected, crossbred wethers and maiden ewes, 48/561b. 4d (same): 57/64Jb, '3 7-8 d (same); 65/721b, 3Jd (same) ; North Island crossbred wethers and m. ewes, 48/561b, 3}d (same) ; 57/641b, 3Jd (3 5-Bd, 3 5-8 d); 65/721b, 3 5-8 d (same) ; ewes, 48/under, 3}d (3}d, 31-8 d) ; 48/641b, 27-8 d (same) ; 65/721b, 25-8 d (same). New Zealand Lambs. —Canterbury, 36/under, 7}d (7 3-Bd, 7 3-8 d); 37/421b, 6}d (6 3-Bd, 6 3-8 d) ; 43/501b, 5d (same); 2nd quality, average 331 b, 5 l-8d (s}d, 51d): other South Island brands. 36/under, 7d (same) ; 37/421b, 6 l-8d (6}d, 6}d) ; 43/5Wb, 5d (sarpe) ; selected North Island brands. 36/under, not quoted ( —, 7 3-8 d); 37/421b, not quoted (—, 6 3-8 d) ; 43/501b, not quoted (—, sd); 2nd quality, average 311 b, not quoted ( —, 5 l-8d) ; other North Island brands, not quoted. Australian Lamb.-—Victorian, Ist Qualitv (new season’s), 36/under, 6}d (60-Bd, 6id); 37/421b, 5 3-8 d (s}d, s(d). \ Argentine Lamb.—lst quality (new season’s, 36/under, 6d (same) ; 37/421b, 5d (same). ' New Zealand Beef.—Ox fores 2}d (2}d, 23-8 d); hinds, 3 3-8 d (3 3-Bd, 3 5-Sd) ; cow fores and hinds, not quotArgentine Chilled Beef. —Ox f or ®®> 31-8 d (3}d, 3}d) ; hinds. 6d (ssd, ojd). Australian Frozen Beef.—Ox crops, over 1001 b, 2}d (2}d, 25-8 d); ox hinds, over 1601 b. 3 3-8 d (3}d, 3 5-8 d)New Zealand Prime Porker Pigs.— 60/1001b, 5 3-8 d (s}d, 5 5-8 d); 101/1201b, 5d (same). New Zealand prime baconer pigs, 121/1801b, 4}d (same). (Rec. December 13, 5.5 p.m.)

London, December 12. Argentine sheep: First quality crossbred wethers, 65/721b., 3}d. Australian lambs: Victorian, first quality, 361 b. and under, 6jd.; 37/421b., o 3-Bd.; other .States, first quality, 37/421b., 44d ; Victorian, second quality, 361 b. and under, 4 7-Bd.; other States, second quality, 361 b. and under, 4}d.; all States, third quality, 4sd. Australian pigs: First quality. 60/110 lb average 901 b., 5 3-Bd.; 111/1-Olb., 4 T-Sd-Markets Quiet.

Levin and Co., Ltd., have received the following cable'from their London agents, dated December 11: —Compared with last week’s quotations, prices are unchanged except for beef, which is }d lower. The market is quiet. The Bank of New Zealand, Produce Department, has received the following advice from its London office as at close of business last 'week. The market for wether mutton is depressed owing to heavy supplies of Australian meat. The market for ewes is dull. The market for lambs 'is affected by heavy supplies of Australian, but there is a good demand for the time of year. The market for beef is over-supplied and prices are affected 'in consequence. Wethers, light, 3 7-8 d to 4}d Per lb.; heavy, 3d to 3}d; ewes. 2}d to 2}<l; lambs, 2’s, 6}d tp 7}d; B’s. 5 5-8 d to 6DBd;'.4’s. 4Jd to sd; seconds 4jd to 5d ; beef, ox hinds. 3d to 3}d; fores, 2d to 2}d; cow hinds, 2}d to '2Jd; fores, l}d to l{d. EXPORTS AND KILLINGS Large Increase in Lamb ■ ' ' x .. ■ ’ The exports of frozen meat from the Dominion during October and November show largs increases in lamb and beef, and decreases in mutton and pork, compared with those for the corresponding period of the previous season: —

i tn addition, 69.361 bags of boneless beef were exported, mostly to Glasgow, compared with 24.367 bags in OctoberNovemiber. 1930. The killings of stock for export at Dominion works for October and November compare as follow with those of the corresponding period last year: —

It will be seen that the lamb killings, nearly ail of which were in the North Island, were well over double. Dominion Special Service. Palmerston North, December 12. Although the season is not yet at its height, the Longburn Freezing Works is slaughtering 2000 lambs a day for the export market. The majority of the 'lambs have been forwarded, the Mnnawatu district, Feilding nnd the Kairanga district being the largest contributors. The lambs are reported to be in fair condition, the drafts being, in the main, fairly light after a bad season. The season will reach its height after Christmas. when it is anticipated that 3000 lambs will be slnnglitorod each day. It is also expected that the number dealt with will bo no less than in previous years. RAW MATERIALS Markets Unsteady (Rec. December 13. 5.5 p.m.) . London, December 12. Friday's closing prices for tl|e following raw materials were as follow, those for December 4 being given in parentheses :— Cotton- —Liverpool <|uotation. American middling, January delivery, 4.91 d. a lb. (4.86 d. Rubber —Para, 4 l-Bd. a lb. (3|d.) ; plantation smoke,d, 3}d. a lb. (3 l-16d.). Jute —December-January shipment. £2l 12/6 a ton (£2l/15/-). Hemp—December-February shipment, nominally £2O. Copra—December-January shipment, South Sea, nominally £l4/2/6 a ton (£l4 5/-); plantation Rabaul, nominally £l4 10/- (same). Linseed Oil—£l4/15/- a ton (£l5 10/-). Ttixpentuw— 62/0 a cwt. (51/-.),

New York Tin Futures - ■ New York, December 12. Quotations of tin (standard) futures today compare with those of December 0 anil of September 18, before Great Britain suspended the gold standard, as follow:— Sept. 18. Sept. 9. Dec. 12. Cents. Cents. Cents. Per lb. Per lb. Per lb. December 24.05 20.15 20.85 January - 20.40 21.00 February I. — 20.55 21.20 English Wheat Markets (Rec. December 13, 5.5 p.m.) London. December 12. Wheat. —Cargoes to-day are unchanged except Plates, which were in freer supply, and 6d. lower. Parcels were unchanged. London futures: December; 24/1 per quarter: February. 24/5; June, 25/4. Liverpool: December, 5/1} per cental: March. 5/s}; May. 5/8 1-8. AUCTION SALES TO-DAY. 1 Ellice St.. 11 a.m.—Sale as going concern (E. Johnston and Co.). 8 Willestoii St.-, 1 p.m.—Sale furniture, etc. (E. Johnston and Co.). TO-MOIIIIOW. Progress Motors, Victoria St, 1 p.m.—Sale 4 ears (E. Johnston and Co.). Progress Motors, Victoria St., 1 p.m.—Salo used cars (E. Johnston and Co.). Levin sale. WEDNESDAY.

Dominion Fanners’ Institute. 2.30 p.m— Sale property, a/c. Supremo Court. 2 Telford Terrace (A. Longmore and Co.). 14 Brandon- Street. 2.30 p.m—Sale sections. Heretaunga (11. E. Leighton). 19 Grey Street, 2.30 p.m—Sale land and property, a/c. Supreme Court. 18 Sugarloaf Road (John W. Foster and Co.). Corner Brandon and Featherston Streets, 12.30 p.m—Sale high-grade English footwear (J. H. Bethune and Co.). 8 Willeston Street. 1 p. in—Sale travellers’ samples., crystals, etc. (E. Johnston J Walter Thompson’s, sth floor, Hamilton Chambers, 10.30 a.m—Sale office furattur* (E. Jobtt*toa and Co.k

Buyers. Sellers. N.Z. GOVT. LOANS — £ S 44 p.e. Bonds, 1939 ... 96 10 44 p.e. ditto, 1938 ... 96 L. 54 n.e. ditto, 1933 ... 9‘ 10 <1 0 6 0 £ 97 98 s 0 0 0 0 5i p.e. ditto and Insc. 1937 vv 0 0 44 p c. Insc. Stk.. 1930 96 44 p.e. ditto, 1938 .., 96 54 p.e. ditto, 1933 ... 99 19 12 0 0 6 0 97 0 96 17 99 15 0 6 0 5* p.e. ditto, 1936 ... 99 12 6 100 5i. p.cj ditto, 1937 ... — 5 51 p.e. ditto, 1933 ... 97 10 JU — Rural Advances, 5'p.e., 85 10 0 debentures— Wgton. Gas Co 100 Wgton. Racing Club .. 0 0 102 100 10 0 0 .0 Wgton. Amalg. Briek 6o 0 — N.Z. Breweries bonds 1 1 3 Auckland and Dunedin City. 54 P.e.. 1944 ■■ 97 10 Wgton. City. 54 p.e.. • 11)40 97 150 ? — 0 — 0 0 Wgton. Harb. Board, 1 54 p.e., 1940 ■ • 97 10 0 •— Lyttelton Harb. Bd., 5J p p 1053 9a 15 0 Otago Harb. Bd., 5{ . n.l. 1938 101 10 0 1102 5 0 Makerua Drain. Board, 6 p.e.. 1952 8 IS 0 9 2 6 Commercial Aust., ord. — 0 16 7 Commercial Bank Co. 5 0 15 7 8 \ — v illl'-j f * _ . ■ English. Scot. &-Aust. National N.Z. ..••-••i: „ — 4 •4 12 9 6 0 National A/asia. (£10) 10 2 6 THttn (£51 0 0 New South Wale. ... 28 0 0 28 15 0 New Zealand •4 Union of Australia .. 7 16 0 FINANCIAL— Dalgety and Co. ■■■■■■ ? Goldsbrough, Mort and • Co. . 1 12 8 6 8 1 3 11 National Mortgage ... , —— 2 u u N.Z. Guar. Corpn., ord. — 0 6 N.Z. Invest., Mtg. and ■ U -LU ‘Wgton. Invest., T.' & A. — 0 10 0 Wgton. Dep. & Mortg. —— u 1U Wgton. Trost & Loan 6 0 0 6 .7 GAS— , 5 8 12 2 —— 0 0 9 Wellington, ord. ...... 1 6 8 1 7; 0 INSURANCE— — 0 New Zealand 2 MEAT PRESERVING— 0 3 — ■ k 'Gear *1 8 6 — N.Z. Refrig. (£1) .... N.Z. Refrig. (10/- pd.) 0 4 0 12 0 10 0 5 0 TRANSPORT— Huddart, Parker, ord. 1 3 0 — Union Steam, pref. .. 1 COAL— 0 0 1 0 9 10 0 •Westport 1 4 61 6 3TIMBER— ‘Knurl 0 8 9 — 0 6 Taringamutu Totara . breweries— 5 0 O 0 6 8 9 y 9 0 MISCELLANEOUS— British Tobacco, ord. 1 6 3 1 7 Burns. Philp and Co. . 1 11 3 1 15 0 Colonial Sugar 37 15 0 38 Dental and Medical . 0 4 6 0 b 9 Dominion Investments 1 1 6 Electro. Zinc, pref. . —. 1 0 3 National Electric ... — 0 10 6 N.Z. Drug ■ —— 12 3 N.Z. Paper Mills 0 •11 6 *—’ Well. Queen’s Theatre 0 19 0 — Whitcombe & Tombs 2 13 6 — Wilson’s Cement ..... 1 14 9 1 15 9 Woolworth’s pref. ... 1 4 3 1 5 6 MINING— Mount Lyell — ♦1 1 3 TVflihi 0 16 o ■ Waiiii Grand Junction 0 King Solomon 0 3 1 9 10 0 2 4 0 •Cum. dividend.

WELLINGTON. £ s d S'.Z. Govt. Bonds, 5} p.e., M3" .. ‘100 10 0 N.Z. Inscr. Stock, 51 p.c., 1937 .. •100 0 0 pl tin 4| pc 1938 •90 15 0 N.Z. Refrigerating, 10/- paid .. •0 4 10J t piffn •0 4 9 Farmers’ Trading Co., "A” pref 0 13 11 "Late sale Friday. AUCKLAND. Salos reported— .£ s d Inter, stock. 5} p.c., 1933 OS 10 0 Australian Glass 1 8 11 VTaihl 0 16 44 CHRI8TOHUBCH. Sales on ’Change £ s d Union Bank of Aust 7 17 6 Goldsbrough Mort 1 3 8 pitto 1 3 9 NX. Refrigerating, £1 pd. ... British Tcwacco, enm dlr 0 11 1' « 0 11 dkarito (3) 0 10 6 DUNEDIN. £ s ,1 0 2 6 * 9

d d Merino {/full woolled .. 4} to 6 Merino i/i woolled 21 » 3J Merino short and shorn if »> 21 Crossbred J/full woolled fine .. 41 ,, 6 Crossbred j/full woolled medium and coarse ' 3} ” 5s Crossbred i/i woolled fine .. 3i „ 41 Crossbred i/i woolled medium and coarse 31 Crossbred short, and shorn .. 21 „ 31 Lambs . j,. • 31 „ 51

N. York. dol. to ,£ 3.32a 3.285 4.866 Montreal, dol. to £ 3.985 3.94 4.866 Paris, fr. to £ 841-16 83.75. 124.21 Brussels, bel. to £ 23 13-16 23.625 35.00 Geneva, fr. to £ 17.00 16.875 25.225 Amst’dam, fl. to £ 8 7-32 8.13 12.107 Milan, lire to £ 64.50 63.875 92.46 Berlin, inks, to £ 13 31-32 1315-16 20.43 St'holm, knr. to £ 18.125 18.125 18.159 C’hagen, knr. tp £ 18.125 18A25 . 18.159 Oslo, knr. to £ 18.375 18.25 1 18.159 Vienna, schgs to £ n29 •28 34.585 Prague, knr. to £ 112 *110.50 164.25 Hel'fors, inks, to £ *200 ♦192.50 193.23 Madrid, pes. to £ 40 39.75 25.225 Lisbon, esc. to £ 100 108.50 4.50 Athens, drach to £.*250 257.50 375 Bueljarest, lei to £ 555 560 813.60 Rio de J., p. to mil. 4 3-8 4 3-8 16.70 B. Aires, p. to peso 41} 40 5-8 47.62 M. Video, p.to peso n31} 31} 51 Calcutta, p. to rup. 181-8 18 3-32 18 Shanghai, p. 23 5-8 23 5-8 — H.-Konir, p. to. dol. 17 15-16 17 7-8 — Y’hama. p. to yen. 35,00 35.75 , 24.582 * Sellers. " n Nominal.

Beef. C/cs. Mutton. Lamb. Pork. C/cs. C/cs. C/cs. London 28,439 209,893 483.80+ 13,900 Southampton — 1,507 13,190 Liverpool . 5.539 8.459 23.241 1,568 Glasgow .. 2,19+ 500 4,585 719 Avomnouth 2.372 2,773 4,330 670 New York : 401 — 3 — (Honolulu . Other "T ~~ . 8 countries — 19 16 Total, 1931 38,945 283.151 529,183 10,857 Total, 1930 20.887, 479.258 312,915 20,796 Increase .. 18,058 *190.107 ♦Decrease. 210,208 ♦3.930

1931 1930 Beer (quarters) 1.45A 3.146 Wether mutton (e/cs.) . . 05,410 39.715 Ewe mutton (c/cs.) 17.168 12.933 Lamb (c/cs.) . 520,511 209.309 Pork (porkers), c/cs. ... . 17.540 25.080 Pork (baeoners). c/cs. . 3.503 0.418 Boneless beef (frt. c/cs.) . 22.364 13.279 Sundries (frt. c/es.) ... . ' 42.800 38.747