FINANCE and COMMERCE

Dominion, Volume 26, Issue 47, 18 November 1932, Page 14

FINANCE and COMMERCE

STOCKS AND . SHARES Wellington, Market Quiet .Afc EASING TENDENCY There was a '.rather - subdued tone in the stock and share market yesterday, and Wellington had a,’ blank day as far as actual turnover whs- concerned." - _ Government securities less active with a slightly;.easier tone,"with.,the cxceptipp of-the. February, ,1937, bonds, quoted at par, the 5} per cents., September and February, ,1937, were 2/6 lower. The 51 per cent., stock, 1933, was 5/- off at £9B/10/-. The 5} per cent, stock, <1933, was quoted at £99 10/-, ex interest. Banks were inactive, with minor changes in prices. Australasians eased 2/6 to £9/5/-, but sellers did not quote. Commercial of Australia were easier at 14/2, sellers staying at 14/i. National of Australasia, £5 paid, improved 1/6 to £5/9/-. New Zealands were unchanged at 45/-, sellers easing to 45/11. Union of Australia were steudy at £7/13/-. ■ln- the financial, section, there were buyers of New Zealand Investments 1 at 7/6, .and Wellington Deposits at 7/10, with sellers at 8/- in both cases. •Golds-, brough Morts were 3d better at 22/o, and N.Z. Guarantee Corporations were unchanged, at 5/2. , i ... Very, little‘interest Wasshownin gas. insurance, meat, shipping, timber and brewery shares. ; Wellington-Gas; preference; we're' J 3d' 'better at 18/3. N .Z. Breweries lost 2d at 26/-. sellers firming to ”27/-. In the miscellaneous section British Tobaccos were ! 3d lower at 30/-, sellers 31/-. Colonial Sugars were stilh.offiering at. £48.” Henry Jones Co-op: firmed 1/- to 33/9, sellers advancing to Mining shares were firm and active. Alexanders eased 1/- to 21/-, after paywen.t. of,, dividend. Blackwaters were and . harden.ioMGolden Dawns, ? and Paddy s Poirtto were all/Arm. and unchanged. Big BiveTS.'.-,stT,eng,then«l, Ijbint to 1/-. 'WELLINGTON EXCHANGE' ! Yesterday’s Quotations • Stock Exchange were ; as'follow.—

DEALINGS ON ’CHANGE ki' ‘1 , . ’’ Sales in the Dominion. l ■ •/: The following sales were recorded ”on tho stock exchanges of the Dominion yesterday:— '.l WELLINGTON. Nil.

LOSS LAST YEAR' ‘ Farmers’ Co-op. Distributing Co. DIVIDEND AGAIN PASSED A net loss of £3289 is disclosed in the report of the directors of the N.Z. Farmers’ Co-operative Distributing Company, Ltd., for the year ended September 30/ 1932.’ The profit and loss account shows a gross profit of £44,365/8/2, and .the expenditure, including 1 provision , for bad and doubtful debts, amounts to £47,654 S/3. The credit brought forward from last year is £2910/10/9, and the. net loss for the year, after making full provision for bad and doubtful accounts and depreciation of plant, furniture, and fittings, amounts to £3289/0/1. It is proposed to write £1230 off properties andcarry forward the balance. All outstanding accounts and advances have been carefully reviewed on a conservative basis,' and provision made where necessary, the reserves, which total £15,339 3/1. being left intact. The directors regret that the company’s operations have resulted -in a loss; but owing to the abnormal conditions, prevailing, with the disastrous fall in prices ruling for farmers’ produce, and the unfavourable outlook for the forthcoming season, it was considered prudent to ..make heavy provision for possible losses in advance accounts, and also to hold in suspense a large amount of interest accrued on accounts. i .j. /s In expressing their gratitude to shareholders who have loyally supported the company during these times of < stress, the directors state that, despite the combined strong opposition experienced, the volume of business was increased in all departments, though the earnings in the commission departments showed a shrinkage, due of course to the lower prices ruling. An appeal is made to all shareholders to give their company their entire support, thus enabling it to maintain its present strong position, and protect the interests of the farming community. f The retiring directors are Messrs. E. Eagle, G. L. Marshall, and Alex. Stuart, M.P., all of whom have been nominated for re-election. Mr. T. V. Caverhill,, of Masterton, has also been nominated. This will necessitate an election for the - return of three directors. The auditor, Mr. S. E. Lambert, also offers himself for reelection. Last year there was a net profit of £1354, compared; with £6130 in 1930 and £15,52S in 1929. N’o dividend..has been paid since 1929, when the distribution was at the rate of'7 per cent. , The principal items in tbe bdlancejsheet compare as" foU'ow‘:— ' — 1031 ; 1932., Liabilities— ~£ £ Capital- ....... 133,587 133,681 Fixed deposits ; 12,665't ' 9,915 Reserves ..;.;; 15,238 ; '.15,339 Sundry crs. and share- 1 holders’current , ' a/cs. 17,917. 20,391 Bank of 'Australasia;; 36,123 j” 40,725 Contingent liability— / ■'3'■. •’> Bills discounted .... '“15,000 ,17,500 Assets— Properties, less mortgages 69,437 69,069 Stocks 22,069 20,112 Plant, etc 7,916 7,149 Investments 1,788 2,197 Bills receivable .... 836 , 331 Sundry debtors and ' advances ..,, ..,.,119,099 '120,856 DIVIDENDS PASSED Orient and P. & O. Lines - — . London, The directors of th’C Orient' Line 1 have decided for the first time since the war'to pay ho‘dividend for the year ended June 30. The P.' and Company is not paying a final; dividend of .'.the deferred shares. No interim payment was made. ''>♦ - J ' - FOREIGN EXCHANGES Position of Sterling ■ '•'< '3, ?' .')■ -ft LoiulAnJ Noiv..',>l6. -.<4 Thq followjngmtesion: foreign exchanges were i,current to-day,-‘’as compared‘.with quotations on November 15 and par:—

Gold and Silver. London,-Nov. id. __ Gold. £6/4/24 per fine ounce. 'Silver.—Cash, 18d.'per ounce; forward, 18 l-Bd. , , •; ■■■; 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 arrival of the vessels in New Zealand,, finally declared rates being marked* ;— Australind, Canada,' dollars .. *3.84 Australind, America, dollars .. *3.45 Canadian Leader, Canada, dollars 3.681 City of Adelaide, America, dollars 3.291 Golden Coast, America, dollars .. 3.30 J Aorangi, Canada, dollars .. .. 3.77 Port Hunter, America, dollars .. 3.28} SYDNEY STOCK EXCHANGE Small Business on Weak Market (Received Nov. 17, 9.30 p.m.). Sydney, Nov. 17. On the Sydney Stock Exchange to-day a slackening in buying orders produced a distinct lull. The turnover was the smallest for weeks. Prices necessarily sagged, this it is believed being due to the new- Commonweal!hi loanbeing on the market. Sales I - Bank of New South Wales!, £3l ; Colonial'Sugar, £52; Fairymend Sugar, 26/6; Henry Jones, 39/6; ditto,' New Zealand delivery, 39/6-; Tooths, 35/(5; Touheys, 21/3; Goldsbrough, Mort, 25/41; Dunlop-Perdriau, 17/6; Electro-’ lytic Zinc, pref., 29/3. Commonwealth Bonds: The longer dated were firmer and the short-dated weaker. Morning sales: Commonwealth Bonds, 4 per cent., 1953, £lOl/10/-; Colonial Sugar, £52/2/6; Goldsbrough, Mort, 25/41; ifenry Jones Co-op., 39/6. Melbourne, Nov. 17. Sales: Goldsbrough, Mort, 25/3; Gordon and Gotch, 32/-; Dunlop-Perdriau, 17/6.

THE WOOL MARKET Sydney Sales Active MARKET CLOSED FIRM (Received Nov. *l7, 9.30 p.m.). Sydney, l7. At the wool sales to-day 10,765 bales were offered,'of which 9914 were sold at auction, 1011 being disposed of privately. The market closed with prices equal to the best point for the week. There was strong competition in all sections. Greasy merino sold to ISld. London Wool Sales The New Zealand Loan and Mercantile Agency Company, Ltd., have received the following advice from their London house, dated November 16: —Wool sales: List closed November 14. Shipments ex Westmoreland, Somerset, Rangitata, and Cambridge available. LONDON TALLOW MARKET A Good Demand .London, Noy. 16. 1 Tallow sales: 337 casks were offered and all were sold, good qualities being 6d per cwt dearer on last sale rates; others were 1/- per cwt up. Quotations: Mutton, fine 26/6 per cwt; medium 23/-; beef, fine 2S/6, medium 23/-.:. The Bank of New Zealand, produce department, has received the following advice from its London office under date November 16: —Tallow: There is a good demand. Current quotations—Good mutton, 26/- per cwt; good beef, 27/- to 28/-; good mixed, 24/-. Gut, 19/- to 21/6. BUTTER AND CHEESE : London Markets Weak ' ’Joseph Nathan and Co., Ltd., have received the following cable message from their principals; Trengrouse and Nathan, Ltd., London, dated November 16:—New Zealand butter: Finest, 93/- pef cwt.; firsts, 90/-. Cheese, white 62/- per cwt., coloured 58/- per cwt Market weak. The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following advice from their London house, dated November 16:—Dairy produce (last week’s figures in parentheses): Butter, New Zealand choicest salted, 93/- to 94/- (98/- to 99/-,. Ist 92/- to 93/-); market steady. Cheese, white, 62/- to 63/per cwt. (64/-); coloured, 58/- to 59/,per cwt. (59/- to 60/-); market slow. Butter in Cold Storage London, Nov. 16. “Cold storage does not impair Australian and New Zealand butter, which retains the essential vitamins and is equal to the best of Home-produced butter,” says the Lister Institute, following investigations and directional medical research by the council, subsidised by the Empire Marketing Board. ' The report emphasises the importance of the conclusion, because the demand for Australian and New Zealand butters :is\'increasing -'.in England, comprising nearly half the total supply. ' C BASE METALS MARKET /"A Prices Fairly Steady (Received Not. IT, 8.45 p.m.) Sydney. Noy. 17. The official London (middle) quotations for Wednesday as received by the Australian Mines and Metals Association, compare as under with those previously cabled:—

LIVE STOCK MARKET Wanganui Sale i At the Wanganui sale, report Freeman R. Jackson and Co., Ltd.,. fat ewes advanced about 1/- per head. Good prime heavy-weight lambs sold at late rates, but lighter sorts were easier by 1/- to 1/6 a head. Sheep.—Prime lambs. 9/4, 10/6 to 11/2; prime lambs (light); 7/9, 8/-. 8/2, 8/6 to. 8/9; prime wethers, to 10/5; prime maiden ewes, 9/6 to 12/- (woolly); prime b.f. two-tooths, 11/2; prime ewes (heavy weights), 8/5; prime ewes, 7/1, 7/4 to 7/6; fat ewes, 6/6, 6/8 to'7/-. Cattle. —Fat Hereford cows and heifers, £3/2/-,-£3/10/- to £4; fat P.A. heifgers, to £3/15/-; fat cows, £2/3/-, £2 5/-; £2/14/6, £3 to £3/10/-; fat bullocks, to £5; forward cows. £l/15/- to £2; P.A.'store cows, £2; Holstein bullocks, £2/4/6'; two-year steers, £l/12/-, £2 to £2/5/-; store cows. £1 to £l/5/-; boner cows, 5/-, 6/- to 12/-; Red Polled bulls, to £4/4/-; Holstein bulls, to £5/5/-. Pigs.—Light baconers, 28/-. 29/- to 31 /-; good porkers, to 22/-; porkers, 18/-, 19/6 to 20/-; choppers, to £l/5/6; forward stores. 15/6, 16/6 to 18/-; stores, 12/- to 14/-; good slips, 12/- to 14/-; weaners, 8/-. 8/6 to 12/-; good vealers (runnners), 30/-, 35/- to 40/-. Pahiatua Sale Dominion Special Service. Masterton, Nor. 17. At Pahiatua to-day Associated Live Stock Auctioneers offered a medium yarding of dairy stock. Springing heifers, £4, £3; dairy cows, £6/10/-; yearlings, Jersey bulls, £l/12/6. London Stock Exchange London, Nov. 16. P. and O. deferred shares sold to-day at 16/3. Mount Lyell shares sold at 17/6. Dealings were ..reported in Australian mines-.as follows :~r-Broken- ! Hills, 20/3: Great/, Boulder, • .7/41; ■>' Perseverance, 2/ll; :Lnke View,-16/11 5-Sd; Kamunting. 5/6; Rhodesia, 2/0 5-Sd; Wiluna, 46/6}’; North Kalgurli, 6/101 Nominal prices: Sons, of Gwalia, 15/3; South Kalgurli, 24/4J; Horseshoe, 4/4$ > Zinc (ordinary), 23/9; Mount Isa, 10/-; New Guinea Gold. 5/3. Assented War Loan was quoted at £9B/10/-, compared with £99 on Tuesday. CUSTOMS REVENUE. The Customs revenue collected at (he port of Wellington yesterday totalled £B6OO.

GRAIN AND PRODUCE Christchurch Markets POTATOES VERY QUIET Dominion Special Service. Christchurch, Nov. 16. The week's partial holiday has not assisted in developing much market interest. Practically no orders are com-, ing from the North Island, except for odd lots of Dakotas from Wellington. New potatoes in the North Island, and also in Christchurch, are cheaper than is usually the case at this time of the year, and there is a substantial consumption of them. The quantity of potatoes shipped north from Lyttelton this year shows a reduction of 109.000 sacks. A proportion of this—probably nbout a third —has been replaced by the Southland export, but the difference with last year, after allowing for this, indicates the extent to which North Island production has increased. There is a good deal of forward business with farmers as a rule at this stage of the season, but it is negligible this rear. Quotations nominally are 50/- a ton on trucks, about the same price as at this time last year, which season, however, followed a year of a heavy unused surplus. The seed market is lifeless. The prospect of a heavy production of small seeds is restricting speculative activity in this section. The following are quotations for produce to be paid to farmers, on trucks, free of commission, sacks extra, except where otherwise stated :— y\’h ea t—Wheat Marketing Board’s price, Tuscan, 4/10}, f.0.b.; Hunter’s, 5/0J; Pearl, 5/2J. Fowl Wheat—s/- to 5/1, f.0.b., s.e. Oats —A Gartons, 3/-; B’s, 2/9 ; Algerians, 3/-. Potatoes —Whites, £4/10/- to £4/15/-; Dakotas and Sutton’s Supreme, £6 to £6/5/-. Partridge Peas—To 6/-. Barley—3/- a bushel. Cocksfoot—Akaroa, 6d; Plains, 4d to sd. Perennial Ryegrass—4/- to 4/3. Italian Ryegrass—3/9 to 4/-. Chaff—£3/10/-. White Clover —1/6 to 1/8. Cowgrass—lOd. Bran —£4 a ton for shipping and £5 a ton local. Pollard —£5 a ton for shipping, £6 10/- a ton local. Flour —£13/12/-, with the usual increments for smaller packings. WELLINGTON MARKETS Prices Steady Current prices ruling in 'Wellington this week are quoted by Lacry and Company,’ Ltd., as follows: — Barley: Hulled, 5/- a bushel; clipped English feed barley, 4/- a bushel. Bran: Half-ton lots or over, £5/7/6 a ton. Chaff:'Prime Blenheim, £6/15/- per ton. Chick raiser: 2001 b bags, 27/6 a bag; 1001 b bags, 14/6; 501 b bags, 7/6. Farro food: 2001 b sacks, i-ton lots or over, £7 10/- a ton. Fowl feed: Mixed, 5/6 a bushel of 50 lb. Flour: F.o.b.j 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, sacks, £l6/2/6; 100’s, £l7/2/6: 50’s, £l7/7/6; 25’s. £l7/17/6. Linseed: Whole, 14/- per cwt. Meal: 170’s, bags, 15/- 1001 b, Nuts: 13/- per 1001 b. , Maize: Whole, 6/- a bushel; South African crushed, 4/10 a bushel. Maizemeal : South African, £B/10/- per ton of 20001 b. Meatmeal : 10/- per 1001 b. Molasses: 38/6 54 cwt drums. Manures: Superphosphates, 44/46 per cent., £4 ton net on rail. Smart Road or Aramoho. Bonedust, £5/5/- ton on rail. Blood and bone manure, £6/10/on rail. ' Oats: Machihe dressed and clipped Algerians, 4/- bushel. Duns, 4/3 and 5/2 bushel. Gartons, 3/9 to 4/- bushel ’Shelled, 5/3 bushel. Peas: Partridge, 7/- to 7/6 bushel; Prussian blue, 7/3 bushel. Pollard: Half-ton lots or • over, £6 10/- per ton. Poultry menl: 2001 b sacks, £6/12/6 a ton.' Peameal: 2001 b sacks, £B/2/6 a ton. Shell grit: 1001 b bags, oyster, 5/6; pipi, 4/9 a bag. Rock salt: £5/15/- per ton. Agricultural salt: £5 per ton. Dairy butter: bulk, 8d per lb (prime).' Fresh eggs: New laid, lOd to lid per dozen. Pork: Prime dairy. 4d to 4|d a lb: goo! quality and medium quality, 3|J to 3Jd per lb. Old potatoes: £6 to £8 per ton. New potatoes: 11/- per cwt. Canadian onions: 19/- per crate. Wheat: G.W.F. wheat. 5/4 to 5/10 a bushel; wheatmeal, 2001 b sacks, 5-tnn lots or over, £lO/5/- per ton. AUSTRALIAN PRICES Wheat Market Easier (Received. Nov. 17, 8.45 p.m.). Sydney. Nov. 17. Wheat in bulk was offered to-day fairly freely at 2/11 a bushel. Country rates for bagged are 2/3 and 2/2i for bulk, equal to 2/10 and 2/10} ex trucks, Sydney. , „ , Flour, £9/15/- a ton ; bran and pollard, £5/10/- a ton. . Potatoes: Tasmanian to<£6; Victorian, £4/10/- a ton; local, new. £5. Onions: Victorian or local to £l2/10/-: Queensland to £l2 a ton. Maize, yellow, 6/a bushel. Adelaide, Nov. li. Wheat: Growers’ lots, old season’s, 2/94 to 2/10J ; new, 2/9 to 2/10 a bushel. Flour, bakers’ lots. £B/2/6 a ton. Bran, £5/7/6 and pollard £5/17/6 a ton. Oats, 1/5 to 1/6 a bushel. Overseas Wheat Markets New York, Nov. 16. Chicago wheat futures: December, 44 7-8 cents; May, 49 7-8 cents; July, 50 7-8 cents. New York, cash, 55 5-8 cents. London, Nov. 16. Wheat cargoes, though Australian were occasionally obtainable at lower rates, were fairly steady; other varieties were unchanged. Three cargoes totalling 23,000 tons of Australian. Deceniber-January-Foliruary, were;sold to China at the equivalent of 25/-; part cargo was sold to United Kingdom at.25/4} in bulk.; Prices for new crop. December-January. 24/9. Parcels were fairly active. Trading in Manitobas was at 3d down. Sales ex City of Canberra and Port Darwin, 25/6 net; ex City of Delhi and Clan Mackinlny, 25/6; ex Port Auckland, in .bulk, 25/6. ' Futures.—London: December, 23/3 per quarter; February and April, 22/4. Liverpool: December, 5/2} per cental; 51 arch, 4/11}.’ Tea Markets Easier Private cable advices from Colombo report that sales this week showed an irregular market, and prices slightly easier. Quality, however, is >pow showing a decline. .The Calcutta market this week was also irregular, a fair amount of the tea offered being withdrawn from sale, owing to sellers refusing to accept current prices. London advices show Javas and Indians as unchanged.

FRUIT AND VEGETABLES Wellington Prices Values of fruit, vegetables and other produde sold in the Wellington markets yesterday are reported by W. Burbidge and Company as follow:— Apples. —Fancy ■ Stumers, 8/- to 9/6; Delicious, fancy, .8/6 to 9/-: others, 5/6 to 6/6; Dohertys, 6/6 to 7/3. Pears: Winter Coles, 9/- to 10/-; P. Barrys, 6/6 to 7/-. Local lemons', 8/6 per bushel. Gooseberries. 2}d. to 3d. per lb. Strawberries: Bay View, B}d. to lOd.; Motueka, 6d. to 7d. per puunet. Green Pens. —Nelson, 8/- to 9/- per cental bag; local, 2d. per lb. Pukekohe new potatoes, 6/- to 6/6 per bag. California grapes, 27/6 per barrel. Southern Potatoes. —Dakotas, £9; Suttons, £9 per ton: whites, 8/- per sack. Canadian onions, 16/- per bag. New-laid Eggs.—lid.; storekeepers lines, lOd. per dozen. Separator butter, 7d. to B}d. per lb. Dressed Poultry.—Ducks, 4/- to 4/6; boilers, 3/9 to 4/- per pair. Fowl Wheat—6/- per bushel, sacks in. Blenheim chaff, £6/15/- per tou. FROZEN MEAT FIRMER Smithfield Prices Rise London. Nov. 16. Thanks to the restriction scheme, prices at Smithfield continue to harden, all imported mutton and lamb and frozen beef averaging Id a pound higher. Australian lamb, unsaleable a few weeks ago, has benefited particularly, and is now l}d above tES price then nominally quoted. Sales are approximately on the same scale as before Governmental action. AUCTION DIARY to-day. 109 Hereford St,. Christchurch. 2 p.m.— Sale property a/c liquidator Butterworth Bros.. Ltd. (H. G. Livingstone and Co.). , ... < At McKenna's —Pictures and objects or art of the late A. E. Wilson. 1 p.m. (J. F. McKenna). Cr. Cambridge Terrace and College St., 10 30 a.m.—Stock-in-trade of small goods shop (C. W. Price). New Masonic Hall, The Terrace, 1 P-m.— Furniture, etc. (Lambton Auct. Unis.) 98 Manners St., 1.30 p.m.—Furniture (Ramsey Wilson). „ 01 Dixon St.. 1.30 p.m.—Furniture, etc. (C. W. Price). TO-MORROW. 55 Kent Terrace, 1.30 p.m.—Furniture, etc. (Davis Bros.) 18 Drummond St., 1.30 p.m.—Furniture (C. W. Price).

New Gold Mine Company The following private company has been registered in Auckland :—The Kuranui Golden Hills, Limited, gold miners, etc. Capital, £4500, iu £1 shares. Subscribers: AV. P. Aitken, 910 shares; R. M. Aitken, R. .loughin and J. Lockingtou, 750 each; Annie R. .loughin and Elizabeth Lockington, 500 shares each; J. McGregor, 210 shares; T. G. Walker and J. H. Buckland, 50 shares each. SUMMARY OF TENDERS 28/11/32: Erection in reinforced concrete of an institute to be known as St Joseph’s Home o£ Compassion at Silverstream. B. F. Kelly.) 28/11/32: Erection of residence in wood in Nevay Rd., Miramar, for H. Miller, Esq. (R. Bolton.)

-I N.Z. GOVT. LOANS. ,'z . -.Buyers. ■ Sellers. £ s, d 5| p.e. Bonds, Feb.,. 1937 100, 0 0 p.c. ditto; Sep.,. 1937 90 17' 6 —- 100 7 6 51 p.c. dlt'tb, 1937 ,:... 97 0 0 .6 41 p.c. Stock, 1938':.-.'-... —’ . . 96. 7 51 p.c. ditto, 1933 .... 199-10 0 51 p.e. ditto,-Feb-, 1937 99.17 . C 100 7 6 5* p.c. ditto,' Sep.; 1937 99 15, v 0, 5i p.c. ditto,!-' 1933 <••• ys 10 0 100 7 (j 5j p.c.' ditto,'.IMr-A:.:^ 07 0-0 ' .<>}' DEBENTURES. '. ‘.SCr. Auck. City} Si p.c., . 1944 98 10 O' Wgtn. City,;'5i p.c., 1940 98'10. 0 Cbch. Drainage, !>'<:•> - • t • 97.15; 1965 .-../...it ■ ■ • 0 Makeriia,Dralnage,.6 p.e.',. . . , 1946 '.;v..-....A.’..5 98 10 • 0 Wgtii. -RaoiHg; Club. J, .y. 93 0 ■ 9 BANKS. • • Australasia .77; 79 5:0 . — Comm. of-: Aust.; ord. .. 0 14 2 0 14 7 E.S. and •>.>' _ —. . •4 11 0 Nat,'of Australasia, £5 *5 9 0 New South Wales .... — *28 15 0 New Zealand: -.’’.ti'*2 5 O 2 5 11 Union of-Aust., ;. ...4;. > 7 13 0 ■ ■ ■’ — / • FINANCIAL. Equitable Building ... — . N.Z. Guarantee Corp., . S 0 0 ord. 0 5 2. Goldsbrough, Mort ... 1 2 3 N.Z. Invest., Mort, and — 0 8 0 N.Z; Loan & Mercantile —; 55 0 0 Wgtn: Trust & Loan .. . —' 5 5 0 Wgtn. Dep. and Mort. 0 7-10 0 S 0 . ' GAg._ Auckland 1 1 0 Ditto, 0 15 0 —— Welllngtoh, ord ' — 1 10 3 Ditto, pref. 0 18:3 0 19 0 1 \ INSURANCE. National ....IL*6 14,•« — MEAT. 1 13 3 N.Z. Refrig., £1 paid i. . 0 8 6 TRANSPORT. Union Steam, pref. 1 O S TWOOLLEN. Wellington, ord. ...... — 5 6 6 TIMBER. 0 7 o 0 BREWERIES. ’’ i Carlton — 1 13 9 New Zealand ........... 1 6' 0 1 7 0 Staples ............... — 14 3 MISCELLEANEOUS. British Tobacco; ord.'. 110'10 1 11 0 Colonial Sugar ; 48 0 0 Dominion Investments . 1. 1 O Electro. Zinc, pref. ... 1 5 3 Henry Jones Co-op. .. *1 13 9 1 15 7 N.Z. Drug — '3 1 0 Wgtn. Queen’s Theatre — ‘ ■ ’ -1 1. 6 Wilson’s Cement — •1 12 8 Newton King, pref. .... 0 3.0 0 8 0 OIL. Moturoa. ord. — 0 4 3 Taranaki — 0 2 6 •MINING. Alexander -fl’ 1 O’ Blackwater '0 19 9 Consol. Goldfields ...... 0'9 3 Golden: Dawn 0.5 2 ■ i ■;» King Solomon -0 2 0 ■ i, iMount Lyell — Okarito 1 ... •••••*- 0 9 0 tl o 5 Paddy’s Point 0 5'0 Walhl 0 19 7 Waihi Grand, Junction 0 3 4 Big River 0 10 0 1 4 Nokomni .. O fl 4 o fi 9 •Cum. dividend. fEx. dividend.

AUCKLAND. £ s d Inner. Stock, 51 p.c., Sept., 1937 100 0 0 Hamilton Borough, 41 p.c,, 1941 90 0 0 Bank of Now Zealand 2 0 7 Union Bank of Aust. 7 15 0 Traders’ Finance, 7/6 paid .... 0 2 6 Auckland Gas ...;J.i..... Farmers’ Trading, ord. .It.’,-.'.; 116 0 2 7 Henry Jones Co-op. ■, -> 1 14 0 Sharland, pref :0 19 6 Union Oil 14 0 Golden Point (2) 0 0 4 Daddy’s Point o r> 4i Wailii 1 0 18 (i Ditto ' 018 5 Ditto 0 18 3 Mount Lyell 10 0 CHRISTCHURCH. £ s d Sales on ’Change— ; Nat. Bank of Australasia, £5 paid, cum div. •; .596 N.Z. Guarantee Corporation 0 5 2 17 0 N.Z. Refrigerating, 10/- paid .... 0 2 11 Do 0 2 10 .Mount Lyell, cum div. (2) 1 0 0 Do. . ..a*/;* '..... 0 19 10 N.Z. Farmers’.;.-Co-op., 41 p.c. stock, 1910. 50 0 0 Blackwater Mines (2) 12 0 119 Golden Point (2) .; ...... 0 0 31 Do. (3) 0 0 3 0 6 8 Do * 0 6 6 Mahakipawa 0 0 4 DUNKDIN. £ » d Sales reported— Moturoa Oil . 0 4 0 NoktWnal • O fl 0 Paddy's Point 0 5 4}

N. Yprk, dol. to Nov. 16. Nov. 15'. Par. £• 3.31} 3.32 3-8 4.866 Montreal, doL to £ 3.78 3.79 4.SG6 Paris, fr. to £ 84.625 8413-16 124.21 Brussels, bel. to £ 23.925 23.975 35.00 Genera, fr. to Amst’dam, fl. to 17.245 17.275 25.285 £ 8.265 ' 8.37 12.107 Milan, lire to £ 6413-16 6415-16 92.46 Berlin, inks, to £ 13.955 13.975 20.43 St’holm, knr. to £ 18.99 18.875 18.150 C'hagen, knr. to £ 19.25 19.25 18.150 Oslo, knr. to £ 1911-16 19 11-16 18.150 Vienna, schgs. to £ ♦28 *28 34.585 Prague, knr, to £ 112 112.25 164.25 Heritors, mks. to £ 230 230 193.23 Madrid, pes. to £ 40 9-16 4031-38 25.225 Lisbon, esc. to £ 109.50 109.50 110 Athens, draeh. to £ 580 580 375 Belgrade, din. to £ 245 247.50 276.31 Bucharest) lei to £ 565 565 813.60 Warsaw, zloty to £ —— —— ' 43.38 Rio de J,, p. to mil. •5 3-8 •53-8 16.70 B. Aires, p. to peso 47.62 M. Video, p. to peso •30 •30 51 Calcutta, p. to rup. 18 3-16 18 3-16 18 . Shanghai, p. to tael 210-16 214 — • H.-Kong, p. to dol. 16 3-8 16 3-8 — Y'hama, p. to 5 ren 1413-16 1411-16 24.582 Bataria, gl. to £ ,8.29 8.29 12.107 -v. ‘Nominal.

Nov. 15. Nov. 16. , • ! '• i\ ».» i» J 1 » 4 » • Per ton, ■ Per ton. Copper— £ s d £ s d Standard, spot ... 32 IS 1J 32 18 1J .. Standard, forward 33 3 1J 33 3 Ij •Electrolytic .... 1 ■37 15 0 37 15 0 .to 3S u 0 38 5 0 •;e Wire* bars ... 38 5 0 38 5 0 • Lead— ■ Spot 12 IS 9 12 8 9 Forward 12 7 6 12 16 3 Spelter— S-pot 15 10 0 15 7, 6 Forward 13 17 6 15 -3 9 Tin— fSpot 156 11 3 156 3 9 Forward 157'. 8 3 157 2‘ 6 Silver— =; ■■■'(•■ < Standard, per oz ISd' '! 18d.' Fine, per oz 19 7-16d 19 7-10d •American, 5.37 cents a lb. ■fAmerican, Novemlber, 23.15 cents a lb.