FINANCE AND COMMERCE

Dominion, Volume 25, Issue 171, 15 April 1932, Page 14

FINANCE AND COMMERCE

STOCKS AND SHARES Wellington Market Firm BANKS IN DEMAND There was no very marked change in the Wellington market yesterday. Government securities were again in strong request, with only one selling quotation and no actual sales recorded. The 5i per cent, stock, 1936, was on offer at 198, against sales earlier in the week at £97/5/-. Buyers’ bids for other Government securities were generally firm. Local body debentures were in fair request at firm prices. , . There was a strong inquiry for banks, with no sellers showing. Bank of Australasia moved up 3/6 to £B/18/6. Commercial of Australia were firm at IJ/u, a rise of another penny. New boutn Wales were again wanted at £24. Bank of New Zealand, announcement of whose final dividend is expected to-day, were od down at 42/6, and Union of Australia 6tl lower at £6/12/-.. In the financial section there were plenty of sellers, £7/8/- being asked for Dalgetys. Buyers firmed their offers for Goldsbrough, • Morts. sd, to 21/7, but sellers were holding for 22/6, as against 21/9 two or three days ago. There was an inquiry for N.Z. and River Plate at Meats were still-wanted at 26/-, but sellers firmed to 28/-. N.Z. Refrigerating paid were firm at 11/6. New Zealand Breweries were reported sold at 23/2 More were wanted nt 23/-, but sellers stood for 24/-. Seekers of N.Z. Drug strengthened their bid 1/6 to 4u/without response. Yesterday’s Quotations Buying' and selling quotations at yesterday’s final call on the Wellington Stock Exchange were as follow:-

DEALINGS ON 'CHANGE Dominion Sales The following sales were recorded on the stock exchanges of the Dominion yesterday — WELLINGTON. £ a d

SYDNEY STOCK EXCHANGE Market Active and Firmer (Rec, April 14, 9.5 p.m.) Sydney. April 14. The Sydney Stock Exchange continues active. Bonds, Colonial Sugars, and bank shares moved to-day to higher levels, with a good inquiry for industrials. Sales: —Commonwealth bonds. 4 per cent.. 1938, £95/13/9; 1941. £94; 1944, £93/13/9; 1947-1950 and 1953, £9l/10/-; 1955, £9l/7/6; 1957, £9l/12/6 ; Colonial Sugars, £42; Bank of New South Wales, £2B/7/6; Queensland National Bank, 100/-; Union Bank. £7/10/-; Commercial of Sydney, £l5/12/6; Huddart, Barker, 24/9; Millaqnin Sugar. 24/71; Australian Gas A. 113/-: Australian Glass, 35/6 ; Tooth’s, 26/9; Toohey’s, 17/-; British Tobacco, 30/3; Dunlop Perdriau, 11/-; Nestle’s pref.. 28/9; Broken Hill I’roprietarly. 15/9; Goldsbrough, Mort. 25/-; South Broken Hill, 42/6; North Broken Hill. 62/- Zinc Corporation, 27/-. Melbourne. April 14. Sales.—-Commercial Bank of Australia, 15/9; National Bank, £lO paid, £ll/2/-; Carlton Brewery, 29/6; Dunlop Perdriau, 11/-; South Broken Hill, 42/9; Norfth Broken Hill. (12/-. AUCTION DIARY. TO-DAY. Blackett's Buildings, Auckland, 12 noon.— Sale property a/e Estate late Mr. N. A. Nathan (C. I''. Bennett, Ltd.). Taumartinul cattle fair (Abraham and Williams. Ltd., and Wright, Stephenson, and Co., Ltd.). 8 WUleston St., 1 p.m.—Sale furniture, etc. (K. Johnston and Co.). Woolworths’ Buildings, Cuba St., 1.30 p.m —Sale furniture, etc. (I. Silverstone and Co.). 1 Manners St.. 2 p.m.—Salo furniture, etc. (Ramsey Wilson and Co.). #1 Dixon St.. 1.30 p.m.—Sale furniture, etc. (C. W. Price). TO-MORROW TO Ira St.. Miramar, 1.30 p.m. - Sale furniture, etc. (I. Silverstone and Co 4

AMP. SOCIETY ' Unexpectedly Good Results BONUS SLIGHTLY LOWER The 83rd annual report of the Australian Mutual Provident Society discloses unexpectedly good results, combined with a position of remarkable strength, nothwithstanding the present severe economic disturbance in Australia and New Zealand, as well as elsewhere. New assurances were effected totalling £8,843,510 in the ordinary department, and £2,657,324 in the industrial department. Death claims in the two departments were £2,230,006 and £76,568, respectively. and claims by maturity totalled £1,429,043 and £607,938. The rate of interest realised on the mean funds was £5/8/4 per cent., while the expenses rates in both departments, excluding taxes, were kept at a very low figure. Taxation paid during the year by the two departments combined amounted to no less than £702,377/7/3, a very large increase over the amount paid in 1930. In conformity with the conservative policy which has always characterised this society’s operations in the past, the directors have made further reserves on a most drastic basis, the total reserves for contingencies and taxation now standing at no less than £2,413.103. Nevertheless, the actuary’s report discloses a cash surplus of £2,468,817 available for distribution in the ordinary department, and £233.998 in the industrial department. Reversionary bonus additions to existing policies in the ordinary department will thus approach £4,370,000, and will be only slightly below those allotted the previous year, notwithstanding the heavy additional reserves. The cash surplus to be divided in the ordinary departinent is actually equivalent to a return of 45.8 per cent, on the premiums received during the year on participating policies. The total assets of the society now exceed £86,000,000, of which over £15,000,000 is invested in New Zealand, thus showing in a very definite and practical manner the confidence which the directors have in the future of the Dominion. KAITANGATA COAL CO. Dividend, 1/6 Per Share The fifth annual report of the Kaitangata coal Company, Limited. (Otago), covering the 12 months ended February 29, shows a net profit of £9192, after allowance of £l5OO for depreciation of plant, etc., and £690 for bad debts. From the credit balance £2OOO has been utilised in reduction of the development suspense account, which now stands at £3505, and £2500 is set apart for income tax. A dividend of 1/6 a share is recommended, equivalent to 9 3-Bth per cent., and absorbing £4777. The company’s paid-up capital is £50.964. The dividend rate is the same as that of last year. A balance of £349 is to be carried forward. BURNS, PHILP (SOUTH SEA) LD. Annual Meeting at Suva £ . (Roc. April 14. 7.35 p.m.) Suva, April 14. Burns, Philp (South Sea) Co., Ltd., held their annual meeting at the registered office, Suva, to-day. The balancesheet showed a surplus, including the balance brought forward from the previous year of £58,105, out of which it was decided to pay a dividend of 1/3 per share, to increase the reserve fund by £lO,OOO, and to carry forward the balance of £1230. British Tobacco The Auckland Stock Exchange has been advised that the directors of the British Tobacco Company (Australia). Limited, have declared the usual quarterly dividend on the 6i per cent, preference 'shares. It is subject to the Federal tax of 10 per cent., and is payable on April 30. FOREIGN EXCHANGES Sterling Steady April 13.

Gold and Silver. London, April 13. Gold.—£s/9/5 per fine ounce. Silver—Cash, 16 5-8 d per oz.; forward, 16 11-16 d. Customs Exchange Rates Rates of exchange ruling at the announced date of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs; Department when the exact time of departure is learned on I lie arrival .if the vessels in New Zealand, finally declared rates being marked* :— Ilaurakf, US..A., dollars *3.65 Haiiraki, Vancouver, flour, dollars .. *3.93 Haurakl, Canada, dollars *4.0fl Aorangi, Canada, dollars 415 Golden Cross, U.S.A., dollars 3.79) Brisbaknc Marti, Japan, yen 21_)d Benliolm. U.S.A., dollars 3.775 BASE METALS MARKET Latest Quotations (Itcc. April 11. 9.5 p.m.) Sydney, April 14. The official Loudon (middle) quotations for Wednesday, as received by the Australian Mines and Metals Association, compure as follow with those previously

LONDON WOOL SALES N.Z. Crossbred Withdrawals STEADY BRADFORD DEMAND London, April 13. Total offerings at the wool sales today were 9544 bales, including 4652 New Zealand. Approximately 5028 bales.were sold. There is a steady Bradford demand. New Zealand crossbreds withdrawals are fairly numerous, sellers being reluctant' to meet the market. Realisations: New Zealand greasy crossbreds, “WMK,” highest Bd, average 6Jd; halfbred, “Rakunui,” 10 id to lOd. The Department of Agriculture has received the following cablegram, dated April 13. from the High Commissioner for New Zealand, London: —Woo!: Sales opened on Tuesday. Competition good at the lower level. Compared with closing rates of last series, merino and fine crossbred, id ; medium and coarse crossbred, id to 2d; slipe, jd to Id lower. 132.500 bales available for series, of which. Australian 39.000, New Zealand 65,000; South American 21,000. Sydney Wool Sales (Rec. April 14, 9.5 p.m.) Sydney, April 14. At the wool sales to-day 10,922 bales were offered, and 9137 sold at auction, nnd 867 privately. The market closed firmly. The Yorkshire nnd Japanese sections were the principal operators. Greasy Merino made up to 20Jd. WANGANUI WOOL SALE Brokers’ Reports Reporting on the Wanganui wool sale the N.Z. Loan and Mercantile Agency Company, Limited, state that a total catalogue of approximately 16,000 bales was submitted, of which their quota was 2745. There was a full bench of buyers representing Bradford, Germany, France, Japan and Australia, as well as Dominion mills, local fellmongers and scourers. Competition for the better class wools was keen, at .limits quite on a par with those ruling at Wellington earlier in the week. For ordinary topmaking medium wools limits were from par to one farthing easier, but for the inferior and heavy seedy lots bidding was irregular, and very low prices had to be accepted. For bellies and pieces bidding was active, and prices ruled much on a par with recent offerings. Lambs’ wool, of which there was only a medium entry, sold up to late rates. Comparing prices with those ruling at this centre in February, these can be quoted for halfbreds about a halfpenny easier, and for crossbreds about threefarthings down. Bellies and pieces were also about threefarthings easier, and lambs’ wool from one penny to a penny halfpenny easier. The wool on offer at yesterday’s sale, with a few exceptions, was very inferior, a proportion of it being rough, and containing heavy seed. While prices realised seem very low, yet when comparing them with prices ruling for the better class wools, it is surprising that so much of the offering was sold. Yesterday’s sale brought to a conclusion in Wanganui the wool sales for the 1931-32 season, and to growers it must have been one of the most disappointing seasons on record. It is to he hoped that before the sales commence again next November the outlook will be brighter. The following are the company’s chief realisations: —

B under line, HAA, 4}d.; OISG, EA, 3id; Hiria, A, 4sd.; MCC, Xbred, 3Jd.; LE, HA, sid., WA, 4Jd.; Waiouru, i-bred A, 6d.; REH. HA, 4|d.; 81, A, sjd.: UGH, H, 4d.; 6tP, AA. 51d.. A. 4d.; TOD, HAA, s}d., LBS, 4|d.; WYNA. JI. 4d„ AA, 3id.; LEA, EA, 4jd.; CH/Tilbury, Xbred, 3}d.; Tullochgorum, LBS A, 6d.; The Falls, HA, 5d.; Taurimu, H.A, 4Jd, EA, 4|d. The New Zealand Farmers’ Co-op. Distributing Co., Ltd., submitted a catalogue of 1834 bales. Prices realised were on a par with recent sales, except that low top-making sorts, crutchings, bellies and pieces were lower. This was a disappointing closing sale, and growers who sold their wool at the earlier sales were fortunate. All wools classed by the company elicited keen competition, and there is evidently a growing appreciation of the fact that it pays to market wool in this manner. The following are some of our realisations: —

NM/0, 6 bales crossbred, 3}d; W. McD. F, 8 bales E 3RI; TOD/M, 6 bales HA, 3(d, 10 bales EAA 3Jd, 12 bales EA 3d, 4 bales Lbs, 4d; OF/Brooklyn, 6 bales H 4(4, 6 bales E 4(d; Te Marti, 9 bales E, 3jd; JFF/O. 4 bales ITB 44. 10 bales EA 4(d; JM/Glencairn, 4 bales EA 4d, 4 bales EB 33(1; WFE, 4 bales EA 4Jd, 15 bales EB 3-jd, 5 bales Lincoin crossbred. 3(d; Planes, 7 bales HA 4sd, 3 bales EA 44, 9 bales EB 3(d; ANB, 6 bales EAA 5Jd. 11 bales EA 4Jd, 5 bales EB 34(1 ; double hook/Marua, 4 bales EA sd: beta, 10 bales EA sd; 18/P, 5 bales EA 4]d. 14 bales EB 4d ; Tokorangi/AH, 52 bales EA s(d; 3M. 7 bales E. 3Jd; ST. 11 bales E 3 pl; Holtby, 4 bales HA 7Jd. 20 bales EA 7d. 12 bales threc-quarterbred A s(d. 13 bales pieces A 4d. 6 bales bellies 3jd; Planes, 14 bales E 3d ; Kaukatea, 6 bales HAA s}d. 5 bales HA 4}d, 16 bales EA 4d, 9 bales EB 4d ; Co-op., 11 bales first Down Bd. 13 bales Down crossbred 6d, 6 bales fine hoggets s(d, 4 bales medium hoggets 4(d. 7 bales medium crossbred 4Jd. 7 crossbred 4d, 14 bales fine crossbred 4Jd, 6 bales fine crossbred SS 444. 7 bales' coarse SS 2|d. 5 bales first Lbs. 5Jd. 9 bales B. and P. 21(1 : Pakira. 11 bales E 31d: Brookhurst. 5 bales Lbs. 54d; x\rdo. 7. bales EAA sd. 12 bales A 314:'JF in diamond, 26 hales EB 4d: various. 12 bales fine crossbred 5(1. 7 bales hoggets 4(1. 6 bales first Lbs. Gid. 12 bales Lbs. 5(1. 8 bales Lbs 444. 9 bales necks 3}d. 9 bales bellies and pieces 2(4. 12 bales bellies and pieces 2}d, 18 bales locks lid. Wright. Stephenson and Co., Ltd., in conjunction with Netown King. Ltd., report that wool growers have every reason to feel disappointed, as prices reached I he lowest ebb of one of the worst selling seasons ever experienced here. After each sale this season growers considered that prices bad readied bedrock, and looked forward to tin improvement. Unfortunately. the reverse has been the case. A considerable amount of the wool offered at to-day’s sale was held over by the grower in the hopes that better prices would prevail, and it has certainly been very hard for them to have to dispose of wools at prices not only well below the cost of production, but which in many eaces will hardly pay freight and selling expenses. Our offering to-day was not a very attractive one, a large proportion comprising late shorn heavy-conditioned and seedy wools. The main buyers were Bradford, who took the majority of rhe offering, Germany and France taking hardly anything, this no doubt being due to the appreciation in the value of sterling. Our total catalogue to-day amounted to 4087 bales, of which 212 were withdrawn previous to the sale. About 70 per cent, of the catalogue was sold under the hammer. The following are some of our prices:—KS in circle, S/DN, 7d.; E. 3(4.; llGL—Fernielee, LBS, 6 }d.; AB. Lbs.. 6}d.: D, WGM, B, LBS, 6R1.; 01’11. LBS. sjd.: C W P. 11. 5 }<l.; Ton Toa. LBS. 4!}d.; Cl’. l, 11. 3(d.; W. 3(d.; CWT. E. 4d.; W. 334.; Redvales. H. 4jd., E, 3{(1.; One Tree Hill. E, 3}d„ 3(d.. 3d.; Tnkiri, 11. 4}d.. 3:}d.; MR— K, NB. fine, 5d.; LBS, 4-}d.; .TP—M. H, 4'd.. 31(1.; NB. 44.. 3(d., 3}d.; NKS, 24(1.; BELS, 2d.; PUS, 2(d.; LBS. 44.; DM—B. 11. 44.. 3(d.: XB. -1d.,, 3’,d.; Aoten. 11. 4d., 3.14.; NB, 33(1., 3Jd.; LBS. -fid.; Glenmorr, LBS. 4(1.; Burubank. LBS. 54.; Barham. 11. 4}<l.; XB, 4[d.; 44.. 314., 3(d.; LBS, 514 ; BELS, 214.; FF M. XB. 3(4.; WF I’, E, 3Jd.; WBW. 11, 3Jd.; E. 3(d.; Rotoiti, 11, 4Jd.; XB, 4d, 3d.; Budge, E, 3Jd. Freeman It, Jackson ami Co., Ltd., offered 1900 bales, and sold about 70 per cent, of the catalogue. Bradford were the main buyers right through the sale on all wools suitable to their trade. Japan were buying a few special lines, and the Continental buyers were quiet except on pieces and bellies. Wools that were classed and well got-up were well competed for. ami mixed lots were neglected. Our top price was 7|d. for a line of fine wool in our bins, other bin lots making Gid., 6d,

GRAIN AND PRODUCE Wellington Market Prices FOWL WHEAT FIRM The local wheat market is very firm. Good whole fowl wheat, quoted 4/84 a bushel, t'.o.b., prompt shipment, Lyttelton or Timaru, costs about 1/- more to laud, making the Wellington price, ex store, 5/10 to 6/-. Very little crushed maize is available. A small quantity from Australia is being landed ex ’Wainui to sell at 5/6 to 6/- a bushel, ex store. The Bullaren is loading a large quantity of South African crushed maize at Cape Town this week and is due here next month. The demand for potatoes is not so good, due probably to the firmer prices. Southern Dakotas are quoted £5/10/and Suttons £5/12/6, f.0.b., Lyttelton, and are selling ex store Wellington at £7/15/- to £8 a ton. Local Whites are worth £6/10/- to £7/10/- and local Suttons, which are very scarce, about £8 Canterbury onions are selling at 8/6 to 9/-, and North Island Brown Deptfords at 8/- to 8/6 per 1001 b. The following prices for grain and other produce, net on rail Wellington, are quoted by Laery and Co., Ltd.: Barley: Hulled, 5/- bushel; Clipped English Feed Barley, 4/- bushel; Barleymeal, in half-ton lots, £5/15/- ton. Wheat: Milling, 6/- to 6/3 per bushel; G.W.F. wheat, 5/10 to 6/- per bushel; wheatmeal, 2001 b sacks, half-ton lots or over, £9/15/- per ton; Farro food, 2001 b sacks, half-ton lots or over, £7/5/- a ton; fowl feed, mixed, 5/9 a bushel of 501 b. Flour: F. 0.8. South Island ports, 2001 b sacks, £l3/12/- a ton; 100’s, bags, £l4/12/-; 50's, bags, £l4/17/-; 25 s, bags, £l5/7/-; ex store, Wellington, 2001 b sacks, £l6/2/6; 100’s, £l7/2/6; 50’s, £l7/7/6; 25’s, £l7/17/6. Pollard: Half-ton lots or over, £7 per ton. Bran: Half-ton lots or over, £6 per ton. Chaff: Prime Blenheim, £7/5/- per ton. Linseed: "Whole, 14/- per cwt.; crushed, 16/- per cwt.; meal, 170's or 1001 b, bags, 15/- per 1001 b; nuts, 13/- per 1001 b.

Maize: Whole, 6/6 a bushel. Meatmeal: 9/6 per 1001 b. Molasses: 5J cwt. drums, 36/6 a drum.

Manures: Superphosphates, 44 to 46 per cent., £4/2/6 a ton, net on rail Smart Road or'Aramoho; bonedust, £5 5/- per ton on rail; blood and bone manure, £6/10/- on rail. Oats: Machine-dressed and clipped Algerians. 5/- a bushel; Gartons, 4/- a bushel; shelled, 5/3 to 5/6 a bushel. Peas: Crushed, 7/- a bushel; Partridge, 6/- and 6/9 a bushel. Other quotations as at April 11 are: —Meadow hay, threshed, 47/6 a ton, Hastings; do., unthreshed, 95/- Hastings, 90/- Manawatu; rye hay, 92/6, Linton; meadow and clover, 95/-, Levin: clover hay, £5 Shannon (about 12 days' time) ; salted threshed hay, 46/6 on trucks Hastings; lucerne hay; on trucks Hastings, steam pressed 92/6, handbaled 97/6, Blenheim; straw barley, 42/6, Hastings; wheaten straw, 32/6, Rangitikei, prompt and spread; oats, B Gartons, 3/4) a bushel, Dunedin; Duns, 3/9 to 4/-, south.

Christchurch Markets Dominion Special Service, Christchurch, April 12. Tlio potato market firmed at the week-end, and sales were made at up to £5/15/-, f.0.b., s.i., for May- June, and £7/5/- for July-September delivery. This price, however, was difficult to secure to-day, and it represents the maximum figure. There has been a little inquiry from the North Island, nnd one or two small lots have been shipped to Auckland within the past few days. Fowl wheat is a shade easier, quotations being 4/7 to 4/8, f.0.b., for prompt. The oats market is unchanged. Local offers are negligible. Southern A Gartons are worth 3/8 a bushel, f.0.b., s.i., and B’s, 3/5. All classes of seeds are meeting with a slack inquiry, but late quotations are unchanged. The autumn trade is now about over. Australian Prices (Rec. April 14, 8.5 p.m.) Sydney, April 14. Wheat, ex trucks Sydney, 3/14; at country stations. 2/6J per bushel. Flour, £lO per ton. Bran. 84/- per ton. Pollard, 100/- per ton. Potatoes, Tasmanian, to £8; Victorian, £7 a ton. Onions, Victorian Brown, to £l7. Oats, 2/6 a bushel. Maize, 4/3 a bushel.

5.1 d., and sd. Compared with our last sale, prices were about id. lower for fine wools, id. lower for good crossbreds, and id. to Id. lower on medium and lower grade wools; pieces, bellies, and locks were (d. easier, but sold relatively better than fleece wools. Lambs were down Id. to lid. Prices have been most unprofitable to the growers this season, and have been most disappointing to all concerned, and with the big weight of wool being carried over, there does not seem much hope of a rise in crossbred wools for some time to come. CDS/K, fine 4d.; Motu-RA. Romney H 44d., Romney E 4d.; JR/Poi, W 4d„ E 33 d.; EDU, E 5(1.; ED/11, crossbred, 3Jd.; Gleunevis. II 43d., W 3Jd.; Ratnnni, A 4(d., B 3(d.; DOH, AF 4id., A lambs 5(d.; Puknui. AFH 54., AF 4(d.; Puknni/DOH. bellies 23(1.; Puknui. A lambs 53d.; JII-S, II 3(d.; Arua, F 4(d.; Arua/Marua, crossbred 2(d.; Arua, crutchings lid.; Marua, A pieces l(d., bellies 14(1.; Rotomate, AH 6d., Corriedale lambs 6d.; SW/R, E 34.; GPS. lambs 5(4.; DG/W, medium 33d.; HJW. E 3jd.; 03/KAK. A 3(d. ; Annbank. II 5(1... AE 4d., BE 3(d., A 44., pieces 13d.. bellies 2d., dead 34.. crutchings 214., Romney lambs sjd., II 54.. AE 44., BE 334., bellies 2(4., crutchings 2J4.; FK/Marama, crutchings 234.. A lambs 53d.; .12, E 34.; HJW. AF 44., A medium 3}d.; Drysdale, A lambs 64., B lambs 4d.: WAV, crossbred 3(d. Murray, Roberts and Co., Ltd., offered 1027 bales. The main competition came from the Yorkshire, trade. Continental buyers were operating to n very limited extent in fleece wools, but were rather more interested in pieces and lambs’ wool. The bidding was not at any time keen, find prices realised were on a lower level ns compared with the last Wanganui sale in February by fully a penny, and occasionally more. The wool catalogued, however, as a whole was certainly inferior to the earlier sales’ wool in both style and condition, and the clips were mostly seedy and skirty. The decline in prices recorded in the current London sales of 5 to 10 per cent, in crossbred wools naturally had a depressing effect on the market here, and prices eased in sympathy with the lower values on the other side of the world. It was hoped that the bottom had been reached with values on such a low basis as they have been for some time past, but unfortunately this has not proved yet to lie the case. The sale must of necessity be extremely disappointing to growers and all concerned. We quitted at auction GO per cent, of our catalogue, some of our sales being as noted below:—Morven Hills, AA. 41d: Waipu. A 314. B 34: A i n Bell, hgts.. 3,1(1; Maranoa. E and 11. 44: ER/ Mangamahu, AE. 34: Waiau. AE -Id. BE 34. Lbs 54; Wylhall. Crossbred C 3Jd. Lbs. A. 53d; WK/PN, EAA 4}d. EA 3((1. Pcs. 21(1; JFK/R. HAA 44. EAA 44. Pcs. 234; OIC, Ewes A 3}(l, Ewes B 3}d; Newton Itpcs. EA 3d, Dn. Lbs. 4(4, Rom. Lbs. 3J4 ; JH, Ewes, 34; U9/Pakira, WB 3(4, Ewes C 3d, Lbs. 4(4; Ernseliffe, EAA, 5(4; GEL, Hgts. 53d, Ewes 434: TIM. A 34, B 234; SI, Lbs.. (Id; QIC. Lbs., 64. CUSTOMS REVENUE. The Customs revenue collected at the Port of Wellington yesterday totalled £18,887.

FRUIT AND VEGETABLES Wellington Markets At present very low prices are being realised for all lines of apples and pears, owing partly to increased supplies, but mainly to the lack of demand, report W. Burbidge and Company. There is very little stone fruit offering, and peaches are realising good prices. All vegetables are very plentiful and prices low, red pumpkin and green peas selling best. Local lemons are in short supply. Prices obtained yesterday morning were as follow :— Apples: Cox’s Orange, 4/- to 6/-; Delicious, 2/6 to 3/6; Jonathans, 2/6 to 4/-; Sturmers. 4/-, to 5/-; cooking varieties, 3/6 to 4/- per bushel. Pears: Winter Coles. 4/- to 5/-; Nclis. 3/- to 4/-; Josephines, 2/- to 2/6; Louie Bons, 4/to 4/6; cooking varieties, 3/- to 4/- per bushel. Local lemons. 14/- to 18/- per bushel; quinces, 6/- to 7/- a bushel; Otago peaches, 4/6 to 5/6; cape-goose-berries. 4/6 to 5/-; Hutt tomatoes, 1/9 to 2/6; ’ passion fruit, 3/6 to 4/6; all per half-case. Potatoes: North Island whites. £6 to £7; Suttons, £8; South Island Dakotas. £7 per ton. Onions: Canterbury, 8/6 to 9/-; North Island Deptfords, 8/- per bag; pickling onions, 3/- to 3/6 per hag. Carrots. 1/- to 1/6 per bag; red pumpkin. 7/per sack; Indian corn, 1/- a dozen; mushrooms, 1/6 to 4/3 per kerosene tin. New-laid eggs. 2/5 to 2/6 per dozen ; pnllet eggs. 2/- per dozen ; separator butter. 7d. to per lb.; honey, bulk 4?d. to sd. per ll>., combs 9/6 per dozen; New Zealand walnuts, djd. to sd. per lb. BUTTER MARKET QUIET Cheese Prices Steady Cabled advice, dated April 13. lias been received by A. 11. Turnbull and Co., Ltd., from their principals, W. Weddel and Co., Ltd., London, as follow: — Danish butter, 119/120/-; N.Z. finest, 106/108/-; Kangaroo, 105/107/-. Market quiet. N.Z. white cheese, 62/63/-: coloured. 62/63/-. Market steady. The Now Zealand Loan and Mercantile Agency Company, Limited, have received tlio following advice from their London office, dated April 13: Dairy produce (Last week’s quotations m parentheses).: Butler. N.Z. choicest salted, 108/- per cwt (109/110/-); very slow. Cheese, white 62/- per cwt (63/-) ; coloured, 63/- per cwt. (64/-). Market steady.

The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following cabled report from their Loudon house, dated April 13: fallow. Fine mutton. 24/- per cwt. (24/3) ; good beef. 25/- per cwt. (20/3) ; mixed. 23/6 (21/6). Prices as at March 17 in parentheses.

SHEEPSKINS AND HIDES Palmerston North Sale At the Palmerston North wool, skin, hide and tallow’ sale held by Abraham and Williams. Ltd., wool showed a sharp decline in values, and competition was somewhat weak. Sheepskins: Prices for dry skins were a little erratic, with a good demand, but taken all round were on a par with our last sale. The demand for salted skins was very dull at prices fully 44. below our realisations of a month ago. Hides met with good competition, but most sorts were |(1. to id. lower, but light hides were very firm. Calfskins were very weak. Competition for tallow was good, and a decided rise of 1/- to 1/6 tier cwt. was evident. The following is the range of prices :— , Wool.—Fine crossbred, 3?d, to 4d.; crossbred, 2(4. to 3d.; inferior crossbred, 2d. to 2(d.; de"’’ Id. to 23d.; bellies and pieces, (d. to lid. Sheepskins.—Dry: Fine hoggets. 3d. to 3id.; line crossbred. 3ld. to 3(d.; crossbred. 23d. to 3.1(1.: quarter-half-wools. 2|d. to 23d.; sluiyts. 13d. to 2(d.: pelts, Id. Io 13d.; lannis. 3.,d. to 31d.; dead, to l(d.; seedy. l(d. to 2(d.; line damaged. to 23d.; damaged, l(d. to 13d. Salted : Short-quarter-wools. Bd. to lOd.; pelts to woolly pelts, Bd. to 9d. Hides.—Ox, heavy, 4 7-Bd. to 5(d.; ox, medium, to 4id.; ox, light, to 3(d.; cow, heavv. 3Jd. to 3 5-Bd.; cow, medium, 3d. to 3 3-Bd.; cow light, 3(d. to 4 l-Bd.; calfskins, heavy, to 3d*’l calfskins, cut. 2d. to 2(d.; calfskins, light. 4d. to 5(d.; calfskins, light, cut. 24. Io 34. ; calfskins ‘light, slippy, Id. to 2d. Tallow. — In tins, sutler. 13/- to 14/-; in drums, first, 12/- to 12/6; in drums, second, 6/6 to 8/-. Horse-hair: Bd. to 1 12d.

N.Z. GOVT. MANS— £ s 41 D.c. Bonds. 1939 and . . d 0 £ s d 1938 '■■■ 94 0 51 p.c. ditto, Sept., 1937 97 0 0 — It ditto and Insc. Stk., 1933 90 15 0 . 1 ■ 4 J p.c. Insc. Stk.. 1938 94 0 0 54 p.c. ditto, 1936 ... 54 p.c. ditto. Sept., 1937 96 — 98 0 4) 17 6 — DEBENTURES— Auck., Chch., Dnn. City, 51 p.c.. 1944 93 0 0 — Wgton. City, 5J p.e., 1040 10 0 Ditto. 1951 —— 96 0 0 Makcrua Dm. Bd„ 6 p.c., 1950 — 95 0 0 BANKS— Australasia 8 18 6 — Commercial of Aust., ord 0 13 9 National A/asla. (£5) ~4 12 6 New South Wales ... 24 0 0 New Zealand " 2 6 —— Union of Australia .. 6 12 0 —“ FINANCIAL— Dalgety and Co. ...... — 7 8 0 Abraham and Williams, pref _ 3 5 0 Goldsbrough, Mort ..- 1 1 T 1 2 6 N.Z. Guar. Corpn., ord. < ) 4 1 •0 4 6 N.Z. Invest., Mortg. and Deposit —— •0 9 6 N.Z. and River Plate . 0 19 6 Wgton. Invest., T. & A. —— 0 9 6 Wgton. Deposit and Mortgage ........ Wgton. Trust & Loan 5 16 6 0 GAS— Auckland w 1 1 8 Wellington, ord 1 1 0 —- MEAT PRESERVING— Gear 1 6 0 1 8 0 N.Z. Refrig. (£1) ... — 0 11 6 TRANSPORT— Union Steam, prrf. .. 1 0 0 P. and 0. Stock .... — 1 1 € WOOLLEN— Kaiapol, ord. .•.»«••• 0 0 — COAL— Grey Valley ......... ■— 0 13 6 TIMBER— National ... Leyland-O’Brien ■we" 0 6 0 1 1 0 Tarlngamutu ........ 0 5 0 iBBEWEBIES— New Zealand 1 8 0 1 4 0 Tooth and Co 1 2 6 —— MISCELLANEOU S— British Tobacco, ord. 1 6 0 ——■ Colonial Sugar 86 10 0 Electro. Zinc. pref. .. tO 18 9 ■ ■ ' National Electric ... —- 0 10 0 New Zealand Drug .. 2 0 Wilson’s Cement .... — 1 7 0 MINING— Mount Lyell 0 18 5 Walhl 0 16 4 Mahaklpawa ........ ♦Cum. dividend. fEx — u . dividend. 0 4

New Zeeland Breweries ..13 2 AUCKLAND. Govt. Bonds, 5i p.c., 1986 Ditto. 51 P.C.. 1937 (February) £ s d . 97 10 0 .97 10 0 Ditto. 5i p.c., 1937 (Sept.-Mar.) 97 10 0 Inner. Stock, 4| p.c., 1938 ..... . 94 7 0 Ditto, 4J p.c., 1838 . 94 10 0 Auek. Harbour Bd., G p.c., 1941 . 100 10 0 Bank of New Zealand . 2 3 0 Goldsbrough, Mort . 1 1 6 . 1 1 11 Ditto .... . 1 2 0 Mohiroa Oil . 0 1 9 Taranaki . 0 0 P Ditto . 0 0 8 Consol. Goldfields . 0 2 3 CHRISTCHURCH. £ 6 d Sales on 'Change— Nat. Bank of Australasia, £5 paid 4 16 0 Do . 4 16 6 Bank of New Zealand (2) . 2 3 1 , 2 3 Goldsbrough. Mort (3) . 1 2 0 N.Z. Breweries (2) . 1 3 3 British Tobacco . 1 6 7 Cornish Point . 0 0 li Golden Dawn . 0 6 1 Do , . 0 G 0 Do . 0 5 101 8 Do. (2) . 0 5 King Solomon (3) . 0 1 1 Mahakipawa . 0 0 2| Golden Point . 0 0 4J Do . 0 0 4 Sales reported— Govt. Inscr. Stock, 4} p.c., 1938. . 94 15 0 Bank of New Zealand . 2 3 1 P. and 0. deferred stock . 1 0 6

The following rates on foreign exchanges were current to-day , as compared witn quotations on April 8, and par:— Apl. 13. Apl. 8. Par. N. York, dot. to £ 3.78J 3.78} 4.866 Montreal, dol. to £ 4.19 4.19 4.866 Paris, fr. to £ .. 95.875 95.875 124.21 Brussels, bel. to £ 27.025 271-32 35.00 Geneva, fr, to £ .. 19.45 19 7-16 25.225 Amst’dam, fl. to £ 9.335 9.34 12.107 Milan, lire to £ .. 73.625 73.375 92.46 Berlin, mks. to £ .. 1515-16 15.95 20.43 St’holm, knr. to.£ 19.65 19.20 18.159 C’hagen, knr. to £ 18 5-16 18 5-16 18.159 Oslo, knr. to £ ... 19 7-16 19.25 18.159 Vienna, seligs to £ *32 ♦32 34.585 Prague, knr. to £ 127.50 127.875 164.25 Hel’fors, mks to £ 215 215 193.23 Madrid, pes. to £.. 49.75 49.875 25.225 Lisbon, esc. to £ .. 109.75 110 4.50 Athens, drach. to £ 300 295 375 Bucharest, lei to £ 637.50 632.50 813.60 Rio. de J., p. to mil. 41-8 4 1-8 10.70 B. Aires, p. to peso 36} 36} 47.62 M. Video, p. to peso *29 *29 51 Calcutta, p. to rup. ”18 1-16 18 3-32 18 Shanghai, p. to tael 19 13-16 28 1-8 — H.-Kong. p. to dol. 14 7-8 . la — Y’hania, p. to yen.. 21 20 15-16 24.582 Batavia, gi. to £.. — 9.37 12.107 •Nominal.

cabled: — April 12. Per ton. April 13 Per ton. COPI'ITt! s d C s (1 Standard, spot .. 2!) (i 3 29 8 9 Standard, forward 29 11 3 29 13 9 ♦Electrolytic .... ... 31 I) 0 31 9 0 to 34 10 0 34 10 0 Wire bars ... 31 10 0 34 10 0 Lend— Spot ... 11 0 0 11 0 0 Forward ... 11 5 0 11 5 0 Spelter— Spot ... 11 0 0 11 2 fl Forward ... 11 2 t! 11 io o T n - Spot .... ... 102 7 0 1 !3 II’ I) Forward . ... 101 12 6 105 12 (i Silver— Standard, per oz. .. 10 1313d 10 .'-Rd Fine, jwr oz. ... •American, ... JS 1-8(1 5.75 cents a 17 15-1191. lb.