FINANCE AND COMMERCE

Dominion, Volume 25, Issue 172, 16 April 1932, Page 14

FINANCE AND COMMERCE

STOCKS AND SHARES

Wellington Market Steady GILT-EDGEDS STILL WANTED Gilt-edged securities continue to engage most interest in the WeHrngton iMrket. Government securities and local body de bentures were again m strong deinand yesterday. Two sales (one late on Thursday) were reported vesterdav of the 4i P er cent - sto ? ks ’ ifltß at £94/10/-. and there were furnnrl bonds. 1938 and 193 J. at -*-y/ sellers of the 1938 stocky however, asked £94/15/-. Buyers of the 54 per cent, stocks and bonds. I< ebruary and September, 1937, advanced their bids W- -to £97/10/- without attracting sellers. The - 54 per cent.. 1935, stock sold late on Thursday at £97/10/ , an advance of 5/- on the sales made earlier in the week. There was no inquiry for these stocks yesterday. There was no change in the prices offered foi local bodv debentures. • There was again a good iiiqinry 1™ banks, which had a firm market. Commercial of Australia were reported sold late on Thursday at 13/11, twopence higher' than previous sales, and more we,e wanted at 13/10. Bank of Australasia firmed another 1/6 to £9 without attracting sellers. A week at £B/13/-. National Bank of N-d- at £3/6/ were 1/6 down on earlier bids, but Allers were not aboflt. New South Wales advanced 5/ to £24/5/-. without response from sellers, who earlier in , the week wanted £25. There were two sales of Bank of New Zealand at 43/4. Buyers stayed in at 43/3, but sellers asked 3d. more. E.S. and A. Bank were wanted at £4. but sellers asked .5/- higher. Dalgetys were again on offer at ±f/p/-, an advance of 2/- on the previous day. Goldsbrough Morts were Id. down at 2176, with no sellers. N.Z. Insurance were wanted at 35/6, against a previous sale of 36/-, but sellers held for 36/4. Buyers increased their offer 10/- to £36 for Colonial Sugars,- without finding sellers. There was no inquiry for N.Z. Breweries, which were offered at 23/10. 2d. down on Thursday's quotation. '.N.Z. Drug were 6d. lower at 44/6. .Waihis were firmer at 16/7, an advance of. 3d., but sellers asked 17/-. Mount Lyells were' 3d. down at 18/-, with sellers asking 18/9.

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. £ s d Govt. Inscr. Stock, 4| p.c., 1938 . *94' 10 0 Ditto, 5} p.c., 1036 *97 10 0 Ditto, 5J p.c., 1934 96 5 0 Ditto, 4} p.c., 1938 94 10 0 Bank of New Zealand (2) 2 3 4 Commercial Bank of Aust., ord. . *0 13 11 •Late sale Thursday. AUCKLAND. £ « d Inscr. Stoqjf. 3J per cent, 1933 97 5 0 Commercial Bank of Aust 0 13 It Bank of New Zealand 2 3 3 Westport-Stockton ; .. 0 0 6 Taranaki Oil ■ 0 0 9 Wilson's Cement 1 5 10 Waihl .......................... 0 16 9 CHRISTCHURCH. ’ £ s d Inscr. Stock, 4J per cent, 1038 .. 94 12 6 Inscr. Stock, 4} per cent.,1938 94 11 3 Nat. Bank, of Australasia, £5 paid (3) 4 16 6 Dalgety and Co 7 2 6 Goldsbrough, Mort. I'l 7 Mount Lyell 0 18 6 Mount Lyell 0 18 7 Golden Dawn (2) 0 5 7 Golden Dawn (2) 0 5 74 Golden Point (2) 0 O 4} King Solomon ;... 014 Okarito 0 9 6 Waihl ■ ................ 0 16 7

THE MONEY MARKET Bank of England Return NOTE CIRCULATION LOWER Isondon, April 14. The Bank of England return for the week ended April 13 is as follows:— Issue Department. £ Notes issued: Govt, debt 11,015,100 In clreu- Other Govt. latiou 356,753,055 securities 223,293,70Tti bank- Other secutngdept. 30.055,292 36.891.044 *£275,000,000 Gold coin & bullion 120,808,347 £305,808,347 £305,808,347 ♦Amount of fiduciary Issue. Banking Department. £ £ Capital 14,553,000 Govt, secu- _ Host 3,099,286 nties 00,380,906 Deposits: Dlscts., adPublic 12,258,974 vances 11,-67,450 Bankers 78,446,795 Other eecuOther a/es 32,823,562 titles Seven day, Notes v9,000,-9-etc., bills 1,185 Gold & ailver coin ■ 640,-9a £141,182,802 £141,182,802 Proportion of reserve to liabilities, 32.10 per cent., as compared with 29.70 per. cent. principal Items of the above return compare as follow with those of the previous week:- Aprjlo Aprn i3. De p P u °sr .A 9,992,816 Pinkers 79,542,470 78,440,705 O?her a/es 33,643,757 32,823,562 £123,179,043 £123,529,331 S Government ... 51,110,906 55,385,906 DWS. advances 12,164,130 11.267,453 Other securities . 40,910,27 i 34,.833,803 ■Reserve 36,645,769 39,69a,590 Gold coin & bullion 121.437,360 121,448,645 Note circulation ... 359,791,591 306,7a3,005 Short Loans and Bills. The Bank of England rate of discount was reduced to 34 per cent, as from March 17. It was lowered to 5 per cent, on February 18, and to 4 per cent, on March 10. The rate previously in force was 6 per cent., to which it was increased from 4J per cent, on September 21. 1931. The previous increase was from 3} per cent, to 4) ■per cent., on July -30, 1931. Short loans are quoted at 2} per cent., as compared with 2 3-8 per cent, last week. The market rate for best three months’ bills is 2 3-16 per cent., as compared with 2J per cent, last week. FOREIGN EXCHANGES . Little Movement in Sterling London, April 14. The following rates on foreign exchanges were current to-day, as compared with quotations on April 13 and par:— Apl. 14. Apl. 13. Par. N. York, dol. to £ 3.77} 3.78 J 4.866 ■Montreal, dol. to £ 4.195 4.19 4.866 Paris, fr. to £ .... 9511-16 95.875 124.21 Brussels, bel. to £ 26.90 27.025 35.00 Geneva, fr. to £ .... 19.375 19.45 25.225 Amst’dam, fl. to £ 9.315 9.335 12.107 Milan, lire to £ .. 73,375 73,625 92.46 Berlin, mks. to £.. 15.875 1515-16 20.43 St’holm, knr. to £ 19.75 19.65 18.159 C’hagen, knr. to £ 18 5-16 18 5-16 18.150 Oslo, knr. to £ ... 19 9-16 19 7-16 18.159 Vienna, schgs to £ *32 *32 34.585 Warsaw, zl. to £.. 33.70 — 43.38 Prague, knr. to £ 127.50 127.50 164.25 Hel’fors, mks to £ 215 215 193.23 Madrid, pes. to £.. 49.50 49.75 25.225 Lisbon, esc., to £.. 109.75 109.75 4.50 Athens, drach. to £ 300 300 375 Bucharest, lei to £ ’ 632.50 637.50 813.60 Rio de J., p. to mil. 44 4J 16.70 B. Aires, p. to peso 36 7-16 364 47.62 M. Video, p. to peso *29 *29 51 Calcutta, p. to rup. 18-1-16 181-16 18 Shanghai, p. to tael 19 13-16 1913-16 — H.-Kong, p. to dol. 1411-16 14 7-8 — Y’hama, p. to yen.. . 21.125 24.00 24.582 Batavia, gl. to £.. 9.37 9.37 12.107 ♦Nominal. Gold and Silver. London, April 14. Gold.—£s/9/7 per fine ounce. Silver.—Cash, 164 d per oz.; forward, 16 9-16 d. GOVERNMENT STOCKS Australians Weaker London, April 14. Quotations of Government stocks on the London Stock Exchange compare with those of a week ago as follow:—

BANK OF ADELAIDE Dividend, 4 Per Cent. The directors of the Bank of Adelaide, according to a cable message received yesterday by the Stock Exchange Association of New Zealand, have declared n dividend of 4 per cent, per annum on the paid-up cnjiital for the half-year ended March 28. The dividend is payable on May 4, and the transfer books will be closed from April 21 to May 4, both dates inclusive. The interim dividend was nt the same rate, making 4 per cent, for the year, as against 7 per cent, last year. LONDON STOCK EXCHANGE Bank Shares and Debentures London, April 12. On Ihe London Stock Exchange to-day qnoliitions of hank shares and other corporation debentures and stocks compare with previous quotations as follow: —

BUTTER MARKET SLOW N.Z. Prices One Shilling Down CHEESE SLIGHTLY EASIER London, April 14. Butter: The market is slow. Danish, 118/- to 120/-; choicest, salted, New Zealand, 107/- to 108/-; Australian, 105/- to 106/-; unsalted. New Zealand, 113/- to 115/-; Australian, 105/- to 106/-. Cheese: The market is dull. New Zealand, white. 62/-; coloured, 63/-; Australian, 61/- to 62/-. Cabled advice received by Mr. G. A. Mills from A. J. Mills and Co., Ltd., London, gives the following market prices as ruling at the close of business on Thursday:—Butters The is slow. New Zealand, finest, 107/- to 108/-; firsts, 106/- to 107/-; unsalted, 114/- to 116/-; Danish, 116/-; Australian, 104/- to 106/-. Cheese: The market is quiet. New Zealand, white, 62/-; coloured, 63/-. ' Samuel Page and Son, London, report to Dalgety and Co., Ltd., under date April 14 :—Butter : Market slow; quotations nominal. Danish, 118/- to 120/- (116/- to 118/-) ; New Zealand, finest salted, 107/- to 109/- (108/- to 110/-) ; Australian, finest unsalted, 105/- to 107/- (106/- to 108/-) : finest salted, 105/- to 107/- (106/- to 108/-) ; Australian G.A.Q., 102/- to 104/- (104/to 106/-). Cheese: Market slightly easier. Australian, white, 60/- to 61/-; coloured, 61/- to 62/-: New Zealand, white, 61/6 (63/-) ; coloured, 63/(64/-) ; Spot price for Canadian white, 68/- to 72/- (68/- to 72/-) ; coloured. 68/- to 72/- (68/- to 72/-). (Last week’s quotations shown in parentheses.) LONDON WOOL SALES Bradford Buys Crossbreds London, April 14. Total catalogues offered at the London wool sales to-day comprised 8140 bales, including 5195 New Zealand. Bradford bought New Zealand crossbreds steadily at opening rates. Merino offerings were light. Realisations: New Zealand scoured combing, ■ “Ben Ohau,” highest 183 d; 171 d average; greasies, crossbreds, “Dunmore,” highest 7d, average s}d; slipe, “Gear,” highest 81d, average 6}d. ■ Murrav, Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated March 14:—Scoured merino inferior declined 5 per cent. Crossbred, except the best descriptions, declined 5 to 10 per cent. Crossbred greasy medium shows the greatest decline. The Wairarapa Farmers’ Co-operative Association Ltd. have received the following cable from their London agents: Wool sales report fine medium and coarse par to five per cent, decline. BRADFORD TOPS MARKET Little Business Passing London, April 14. The Bradford tops market lias but small business passing. To-day’s quotations compare as follow with, those previously cabled: — Mar. 24. Mar.3l. Apl. 7. Apl. 14. Per lb. Per lb. Per lb. Per lb.

FROZEN MEAT TRADE Market Quiet But Firm M. A. Eliott Ltd.. Palmerston North, have received the following cabled advice from Gordon, Woodroffe and Co., Ltd., London, dated Thursday : —Prices nominally unchanged. Wethers, lambs and ewes, market quiet but firm. Smithfield “delivered” prices are as follow: — Best North Island prime lambs: Up to 361 b, 7d;' 361 b to 421 b. 6}d. Ordinary North Island lambs: Up to 421 b., 6}d; second quality, up to 421 b, 6}d. Best North Island wethers and/or maiden ewes: 481 b to 561 b, 4 3-8 d; 561 b to G4lb, 4 3-8 d; 641 b to 721 b, 4d; over 721 b, 4d. Ordinary North Island wethers and/or maiden ewes: 481 b to 561 b. 4}d; 561 b to 641 b, 4}d ; 641 b to 721 b, 3 7-8 d; over 721 b. 3 7-B<l. North Island ewes: Up to 641 b. 3 3-8 d; 641 b to 721 b, 2}d; over 721 b, 2}d. BASE METALS MARKET Latest Quotations (Rec. April 15, 8.15 p.m.) Sydney. April 15. The official London (middle) quotations for Thursday, as received by the Australian Mines and Metals Association, cornpure as follow with those previously cabled 13 Aprjl

SYDNEY STOCK EXCHANGE Banks and Industrials Firm (Rec. April 15, 8.45 p.m.) Sydney, April 15. On the Stock Exchange, while not so active to-day, there was a good undertone in the market. Price variations were inconsequential. but banks and industrials are more than holding I heir own. Sales recorded: Bank of New South Wales. £2B/12/6; Commercial Bank of Sydney, £l5/12/6; Bank of Adelaide, 105/-; New Zealand inseribeds, 5| tier cent.. 1937, £109; Touheys. .16/9: Colonial Sugar, £42/5/-; British Tobacco, 30/3; Goidsbroughs, 24/6; Berlei, 20/-; Burns, Philp, 39/71; Australian Gas A, 113/6; Australian Glass. 35/9; Broken Hill Proprietary, 15/7; Zinc Corporation, 15/7: Commonwealth Bonds, 4 per cents., 19„J. £95/12/6; 1941. £94/2/6; 1944, ex interest, £9O; 1961, £9l/2/6. Melbourne. April 15... Morning sales : Commonwealth Bonds, 4 per cents., 1955, £9l/7/6; 1957. £9l 12/6; 1959, an interest, £9O; Union Bank, £7/10/-; British Tobiffico, 30/3; Colonial Sugar, £42/5/-. ■/’ Goidsbroughs, 24/6; British Tobacco, 30/41; Dunlop Perdriau, 10/10; Gordon and Gotch, 26/101; South Brokeus, 42/9; Norths, 63/-; Mt. Lyell, 21/-; Taranaki Oil, fid.

LIVE STOCK MARKET Feilding Sale Prices FAT SHEEP FIRM Dominion Special Service. Feilding, April 15. Fat sheep were firm at recent rates at the stock sale to-day. There was a fairly large yarding and freezing companies’ buyers again operated freely. Fat lambs: primest, 21/-; prime, 16/7 to 17/6; good, 14/6 to 15/9; medium, from 8/6. Fat ewes: Primest, 10/2; extra good, 8/1 to 8/10; good, from 7/6. Fat two-tooths, 13/3. Fat wethers: Primest heavy, 13/3 to 14/3; prime, 12/5 to 12/10; good, from 10/9. Store sheep: A fair yarding. Forward wethers, 12/-; fattening ewes, 4/1 to 5/2; two-tooth wethers, good, 11/7 to 13/-; backward, 9/9 to 10/8; m.a. ewes, 9/10; two to four-tooth ewes, S.D. rams, 9/10 to 12/-; four-tooth ditto, 13/-; six-tooth to four-year ditto, 12/3; five-year ditto, 7/6 to 8/6; ewe lambs, 7/9 to 11/6; m.s. lambs, 7/9; w.f. lambs, 6/- to 8/6; b.f. lambs, 8/7. There was a moderate yarding of fat cattle of good quality; some lines were passed, others sold at late rates. Fat bullocks, £5/12/6; fat heifers, £2/5/- to £3/15/-; fat cows, 25/- to £2/19/6; store P.A. cows, 22/-; store bullocks, 30/-.. Dairy stock met a better demand. Heifers r.w.b., good, £5 to £5/10/-; others from £2/5/-; springing cows. £5/5/- to £5/10/-; heifers in milk, £4/5/-; cows, to £4/15/-; bulls, £1 to £2. Hunterville Sale At the Hunterville sale on Thursday the New Zealand Farmers’ Co-operative Distributing Co., Ltd., had a fair yarding of sheep and cattle, the majority of which sold readily at late rates. Good m.s. lambs, 10/2; brf. lambs, small, 7/7 to 7/10; small ewe lambs, 5/7; wether lambs, small, to. 5/7; cull lambs, 3/-; aged ewes, 4/9 to 5/-; S.D. rams, 2}gns.; Romney rams, Ign.; four-year mixed coloured bullocks, £3/5/-; weaner heifers, light, 20/-. • Taihape Sale At the Taihape sale the New Zealand Farmers’ Co-op. Distributing Co., Ltd., had a good yarding of 2000 odd sheep, principally lambs, which met with keen inquiry, the whole of the yarding selling readily. Ewe lambs, 8/3, 8/10, 9/8, 10/6 to 11/6; wether lambs, 7/5, 7/9, 8/2 to 9/-; small M/S lambs, 7/-; cull lambs, 3/1 to 5/-; small b.f. lambs, 7/-; s.m. ewes, 9/-. Cuttle sold at late rates. Carterton Sale Dominion Special Service. Masterton, April 14. A small entry of dairy cattle and a good entry of pivs was offered to a small attendance at Carterton sale to-day. Competition was on a par with late sales, a clearance being effected as follows: —Springing dairy cows, £6/15/- to £9; springing heifers, £5/5/- to £5/17/6; empty cows, 10/- to £2; weaner pigs, 3/- to 7/-; porkers, £l. GRAIN AND PRODUCE Canterbury Markets By Telegraph.—Press Association. Cluistchurch, April 15. The market for fowl wheat is a trifle steadier though the discussion in the House concerning the free entry into the Dominion of poultry wheat is affectingthe inquiry. In the meantime values are nominally 4/9 to 4/9j. though in midweek some sales were made at 4/10 for prompt delivery. The oats market continues quiet. Local A Gartons are quoted 3/- to 3/1 on trucks; B’s at 2/9. At southern ports the quotation, f.0.b., s.i., is 3/7 for A’s, and 3/4 for B’s. Algerians are quoted locally at 3/- to 3/3 on trucks. Chaff is in weak demand, being quoted nominally at 70/- on. trucks. Potatoes are slightly easier, the quotation for April delivery is £5/10/- f.0.b., s.i.; for May-June £5/7/6 to £5/10/-. and for July-September, £6/17/6 to £7, although the amount of business passing at the moment is limited. The season is a little late this year, and the main digging is not likely to be in full swing until early next month. The autumn seed trade is over, and there is no overseas inquiry. Very little is offering from farmers, and it is to be presumed that most of the seed is in the hands of merchants. Overseas Grain Markets London, April 14. Wheat cargoes to-day were offered at threepence to sixpence down, but the undertone was steadier following an increase in the Italian quota and easier sterling exchange. There was a fair Chinese and Japanese inquiry of Australian cargo, but the bids were below market values. One Australian cargo sold at 27/6. Parcels were in quiet demand at threepence to sixpence down. Parcels ex Temerairo sold at 27/3, ex Largs Bay at 27/- net. Futures: London, June 25/1 per quarter, September 25/8. December 26/4: Liverpool, May, 5/31-8 per cental; July. 5/s}; October, 5/85-8. The spot trade is quiet; Australian, ex ship. 28/9 to 29/-. The flour market is firm; Australian ex store, 20/6 to 22/- per sack. Oats are firmer; Australian Algerian, 18/- to 19/-; A Gartons, 22/6 to 23/6. Peas are quiet; Maples, Tasmanian, 66/- to 67/6; New Zealand, 64/- to 65/-; Blue Tasmanian, 360/- to 380/-; New Zealand. 340/-. New Zealand beans, 29/to 30/-. Chicago, April 14. Wheat futures: Wheat. May. 60} cents per bushel; July. 63}; September, 56}. New York, cash, 73 7-8 cents per bushel. Melbourne, April 15. Wheat, 3/3J per bushel; flour, £7/12/6 per ton; bran and pollard, both ’£s/5/-; oats, 2/3 to 2/4; barley is unchanged ; maize, 3/11 to 4/-; onions, steady, £l3 15/- to £l4 per ton. EXPORTS OF EGGS Great Increase in Australia Sydney, April 14. The Department of Commerce reports that exports of Australian eggs in recent years have phenomenally increased. Whereas the shipments in 1925 were 1,631.744 dozen, in 1931 they totalled 9.740.790 dozen. The whole of the supplies are readily absorbed. AUCTION DIARY. TO-DAY. 70 Ira St.. Miramar. 1.30 p.m.—Sale furniture. <•!••. 'L Silverstone and Co.). 3 Devon St.. 1.30 p.m.—Sale furniture (C. MONDAY. Shannon Sale TUESDAy Maria Place, Wanganui, 11 a.m.—Stile Commercial Hotel. Waverley (John Coull). Dominion Farmers’ Institute, Featherston St.., 2.30 p.m.—Sale a/c Mortgagee Property, 1)3 Townsend Rd. (A. Longmore) and Co.). NZ. Used Car Mart, 1 p.m.—Sale motor ears (E. Johnston and Co.). Alle nSt., 10.30 a.m—Sale poultry, etc. (Townsend and Paul). TUESDAY.

Allen St.., 10.30 a.tn.—Sale poultry, etc. (Townsend and Paul). Matawhero Yards, Gisborne—Cattle Fair (Stockbrokers’ Association). Levin Sale.

N.Z. GOVT. LOANS— 44 p.c. Bonds, 1939 anc 1<)3R Buyers. £ s d I Sellers. £ a d 94 0 0 54 p.c. ditto, 1933 ... 96 10 0 — 51 p.c. ditto, Feb. am I Scot.. 1937 VI 10 0 — 44 d.c. In sc. Stk., 1939 94 0 0 ■ —— 44 p.c. ditto, 1938 ... 94 0 0 94 15 0 54 p.c. ditto, Feb. and Sept., 1937 97 10 0 —— 5J p.c. ditto, 1937 .. • 92 0 0 — DEBENTURES— Auck.. Chch., Dun. City, 5J p.c.. 1944 93 0 0 Wgton City and Harb. Bd., 5i p.c., 1940 ... 93 10 0 —- Wgton. City, 5J p.c., 1951 90 0 0 96 0 0 Makerua Drn. Bd., 6 p c 1950 95 0 0 BANKS— 9 0 0 — Commercial of Aust., of d 0 13 10 — ■ Commercial Bank. Co. (Sydney) English, Scot. & Aust. 4 0 0 14 10 0 *4 5 0 National N.Z 3 6 0 — New South Wales ... 24 5 0 New Zealand 2 3 3 2 3 6 Ditto, long term .... 1 6 0 •— FINANCIAL— Dalgety and Co —- 7 5 0 N.Z. Guar. Corpn., ord. •0 4 1 —• Goldsbrough, Mort ... 1 1 6 — N.Z. Invest., Mortg. and ■ *0 9 6 N.Z. Loan & Merc., ord. — 40 0 0 GAS— ., ... 1 13 Wellington, ord 1 7 0 —— INSURANCE— New Zealand 1 15 6 1 16 4 MEAT PRESERVING — Wgton. Meat Exp., pref —— 0 15' 0 N.Z. Refrig. (10/-) .. —— 0 4 6 TRANSPORT— Union Steam, pref. .. 1 0 0 P. and O. Stock .... — 116 WOOLLEN— - 1 0 6 9 COAT— Grey Valley 0 13 6 TIMBER— ■ ■■■ 0 6 0 Leyland-O'Brien .... — 110 ——a 0 5 0 BREWERIES— New Zealand —— 1 3 10 1 2 9 ■ MISCELLANEOUS— British Tobacco, ord. 1 6 0 —— Colonial Sugar 36 0 0 —— N.Z. Drug 2 4 6 Woolworths, pref. ... tl 3 0 — Ditto, new issue —— 14 4 MINING— Mount Lyell 0 18 0 0 18 9 WnHil 0 16 7 0 17 0 ♦Cum. dividend. fEx. . dividend.

Price. £ s. d. Variation. £ s. d Consols, 21 p.c 60 10 0 O 2 6* ■ Fund. Loan,- 4. 1900-90 96 5 0 0 5 ot War Loan, 5, 1929-47 103 O 0 0 10 ot Convers. Loan. 34 p.c. 84 10 0 0 10 Ot Victory Bonds, 4 p.c. 118 0 O 0 10 Ot C’wealbh, 5, 1045-75 .. 88 5 0 O 10 (I* C’wealth, 6, 1931-41 .. 96 2 6 0 12 (>♦ Victoria, 3, 1929-49 .. 60 10 0 1 0 0* Victoria, 3}, 1929-49 .. 62 10 0 1 10 0* Victoria, 54, 1930-40 .. 87 10 0 0 10 ()♦ Victoria, 5, 1932-42 .. 82 5 0 O 41 0* Victoria, 4J, 1940-00 .. 79 5 0 same N.S.W., 4, 1033 82 10 0 1 10 0» N.S.W., 3, 1935 70 10 0 3 0 0* N.S.W., 3J, 1930-50 .. 59 10 0 1 5 Ot N.S.W., 55. 1922-32 .. 03 17 6 0 7 c>* N.S.W., 64. 1930-40 .. 86 7 6 O *4 6* N.S.W., 6.1930-40 .... 82 0 0 same Q’land, 5. 1940-60 .... 82 2 6 1 7 (»♦ Q’land, 3, 1922-47 .. 62 0 0 0 15 0* Q’land. 6, 1930-40 .... 92 10 O 1 10 0* N.Z., 44, 1948-58 89 10 O same N.Z.. 34, 1940 ........ 84 0 0 same N.Z., 3, 1945 72 0 0 0 2 ot N.Z., 6. 1936-51 101 17 6 0 2 6* S. Aust., 34, 1039 .... 73 10 0 1 0 ()♦ S. Aust., 3.1916 of after 50 10 0 0 10 Ot S. Aust., 64, 1030-40.. 93 10 0 1 0 0* Tasm., Si; 1920-40 .. 71 2 6 ■ 4 7 6* Tasm., 3. 1920-40 .... 69 10 0 0 10 0* Tasm., 64, 1930-40 .... 96 10 0 0 15 ot W. Aust., 34 1920-35.. 82 10 0 same W. Aust., 3. 1915-35 .. 76 10 0 0 10 ot W. Aust., 6, 1030-40.. {Higher. 03 5 O •Lower. 0 10 ot

Banks— Australasian £ s. Mar. d. 20. d. 0 £ s. d. April 12 £ 8 s. 0 £ s. d 0 7 17 New South Wales .. 21 10 0 20 15 0 Union <>£ Australia .. 7 « r* 2 6 National of N.Z. .... 3 *> c o 17 6 N.Z. 4 p.c. guaranteed stock no 10 0 90 10 0 New Zealand, shares 7 6 w 6 ebentures. etc. — N.Z. Loan and Mercantile, 4 p.e 57 0 0 57 0 0 N.Z. Loan and Metcautilo old. stock » 30 10 0 30 10 0

<1. d. d. d. 7O’s 24 244 244 244 O4's 224 224 22 oo (>0’s .. 204 204 20J 204 56’s .. 17 17 17 17 50’s 12 12 12 12 46’s .. ' 9J 94 94 40's .. 9 9 9 9

Per ton. Per ton. Copper— £ s <1 £ s d Standard, spot ... 21) S 9 29 9 Standard, forward 29 13 9 29 15 74 ♦Electrolytic .... 34 (1 (1 34 0 0 to 34 19 0 34 10 0 Wire bars ........ 34 11) 0 34 10 0 Lead— Spot 11 0 0 11 6 3 Forward ••••••*. 11 5 0 11 11 3 Spelter — Spot ••••• 11 2 0 11 8 9 Fo rward . 11 10 0 11 15 0 Tin— Spot 103 10 0 103 17 (> Forward 105 12 0 100 1 3 Silver— Standard, per oz. . 1fi5-Sd IfiJd Fine, per oz 1715-10d 1713-10d ♦Anicniean not quoted.