FINANCE AND COMMERCE

Dominion, Volume 27, Issue 16, 13 October 1933, Page 12

FINANCE AND COMMERCE

STOCKS AND SHARES Gilt-edged Securities Firm OTHER SECTIONS QUIETER Except for gilt-edged securities, _ there was a slacker demand in the Wellington stock and share market yesterday, and quoted prices in a number of cases were slightly easier. The 12 sales recorded, however, were made at full late rates. Interest in Government loans showed no falling off, but sellers still stayed out. Bids for several issues wore slightly low>r than on Wednesday. Local body and >ther debentures were firm and unchanged. . . , ~ Little change was seen in banks, Commercial of Australia sold on ’change «t 17/-. and New Zealands at 48/3 and 18/1. Union of Australias were again reported sold at £lO/7/6. There was an active demand for pastoral and financial shares at steady prices. Gas and insurance shares were quiet, and meats were slightly easier. Union Steam, preference, were 3d up at 24/3, sellers in at 2a/-. New Zealand Breweries were 4d lower at 37/6. and Tooths were 6d off at 41/-. Staples moved up 6d to 28/-, sell■rs 1/- higher. Miscellaneous shares were mostly firm nt recent rates. Colontai Sugars were strong at £o9, sellers isking 15/- higher. There were seven talcs of goldmining shares. WELLINGTON EXCHANGE Latest Quotations The latest buying and selling quotations on the Wellington Stock Exchange yesterday were as follow:—

BASE METALS MARKET General Easing in Prices By Telegraph.—Press Assn.—Copyright. (Received Octo-ber 12, 8 p.m.) London. October 11. The official London (middle) quotations for Wednesday, os reported by the Australian Mines and Metals Association, compare as under with those previously cabled:—

DEALINGS ON ’CHANGE

Sales Recorded Yesterday

RETURN ON INVESTMENTS Sales recorded on Dominion Stock Exchanges yesterday are shown in the following list. In the second column Is given the return, based on the last annual dividend from investment nt the quoted price. In calculating the return on shares in companies which pay their dividends outside New Zealand, the exchange rates have not been taken into consideration. The return on 4 per cent. Government loans Includes redemption. In the case of 3J per cent, loans the return is for interest alone, and covers only the period for which the loans are tax-free. No return is given on local body securities and debentures in the meantime.

SYDNEY STOCK EXCHANGE Market Firm and Active By Telegraph.—Press Assn.—Copyright. (Received October 12, 8.35 p.m.) Sydney, October 12. On the Sydney Stock Exchange, trading continues very heavy, with values mostly in sellers’ favour. City retail houses are receiving much attention, and Anthony Hordern advanced sharply, while Farmers and David Jonesl went further ahead. Commonwealth bonds moved within narrow limits; banks were neglected, but tin shares were stronger. Sales. —Bank of ’New South Wales, £34; National Bank. £5 paid, £6/14/-; Colonial Sugar, £59/17/6; Associated News, 20/10}; ditto, pref., 20/9; Australian Gas, A, £7/8/-; British Tobacco, 37/9; Dunlop Perdriau, 19/3; Tooths, New Zealand delivery. 43/6; Tooheysi, 25/-; David Jones, 34/9: Farmers, 17/9; Anthony Hordern, 13/10; ditto, pref., 22/-; General Industries, 10/10; Lustre Hosiery, 17/3; Standard Cement. 17/4}; Morris Hedstrom, 20/6: Greater J. D. Williams, 8/11; Electrolytic Zinc. 26/9; W. R. Carpenter, 41/6; Burns, Philp, 53/-; Australian Glass, 53/-; Hume Pipe, 14/5; Wilcox, Mofflin. 9/9; Mt. Morgan, 47/9; Mt. Lyell, 24/-: Bulolo Gold. 98/3; Kuala Kampar, 10/7; Broken Hill Proprietary, 41/4} ; South Brokens, 66/-; North Brokens, 89/6. Morning saleel included: Commonwealth Bonds, 4 per cent., 1938, £lO4 10/-; 1941. £lO4/17/6; 1947, £lO4/16/3; 1961. £lO4/17/6; Bank of New South Wales, £34; Australian Gas (A), £7/8/-: Toohey’s. 25/-; Tooth’s, 43/9; Associated News. 21/-: pref., ditto. 21/1}; DunlopPerdriau, 19/44: Wilcox, Mofflin. 9/9. Melbourne, October 12.

Sales.—Adelaide Steam. 25/-; Gordon nnd -Gotch, 38/6; Herald, Tinies, 43/-; Howard Smith. 14/3: Hume Pipe. 14/3; Electrolytic Zinc. 26/6; Goldsbrough, Mort. 29/1}; Mt. Lyell, 24/1}; Commercial Bank, pref., £3/17/0. FOREIGN EXCHANGES Position of Sterling (British Official Wireless.) Rugby, October 11. The following rates on foreign exchanges were current to-day, compared with those ruling on October 10:— Oct. 11. Oct. 10. Par.

♦Nominal. fOfllcial. Gold find Silver. Xondon, October 11. Gold. —£ C/13/1 J per fine ounce. Silver.—Cash, 18 15-16 d per ounce; forward, 18 3-Bd. AUCTION DIARY TO-DAY. FoiltlinK Cattle Fair. Taita, 1 p.rn.—Furniture (H. Johnston). 98 Manners St., 1.30 pan.—Furniture (Ramsoy Wilson). 91 Dixon St., 1.30 p.iu.—Durniture (C. W.

D.I.C. YEAR

Increase in Net Profit

DIVIDEND, 21 PER CENT.

Dunedin, October 12.

The directors of the Drapery and General Importing Company, Ltd., state in their forty-ninth yearly report that the -net profits for the year ended on August 20. after making full provision for land and income tax, bad and doubtful debts, and depreciation of buildings, fixtures, and plant were £17,119/14/7, which, with £28,299/5/6 brought forward from last year, showeel a total to credit of profit and loss account of £45,419/0/1. On May 1 an interim dividend was paid on the preference shares at the rate of 5 per cent, per annum for the halfyear, which absorbed £6250, thus leaving £39.169/0/1 now available. This sum the directors propose to. deal with as follows Payment of a dividend at rate of 5 per cent, per annum on the preference shares for the half-year, £6250; payment of a dividend at the rate of 2} per cent, per annum on the ordinary shares, £4531/17/9; balance to be carried forward, £28,387/2/4.

From 1925 to 1930 the D.LC. paid a dividend on the ordinary shares at the rate of 10 per cent, per annum. In 1931 the dividend was reduced to 5 per cent., and last year the dividend was passed. The preference dividend this year at 5 per cent, compares with 6 per cent, in previous years. The net profits in recent years have been.—l92B. £42,791; 1929. £47.606; 1930, £40.547; 1931. £19.371; 1932. £2869. Reserves at the end of the 193132 financial year stood at £113,547. David Jones Dividends The profils of David Jones and Company, Limited, department store, Sydney, for the year ended July 31 was £93.394, an increase of £21,338 on the previous year and £43.421 greater than in 193031. The ordinary dividend of 8 per cent., comprising 3 per cgnt. interim and 5 per cent, final, requires £48.000, the 6 per cent, preference £9OOO. and the 7} per cent, preference £18,750, making a total distribution of £75,750. The ordinary dividend for 1931-32 was 5 per cent, and for 1930-31 4 per cent. With £56,784 brought into the accounts, £74,428 is being carried forward. The directors report an increase in turnover. London Tallow Market By Telegraph.—Press Assn.—Copyright JLondon, October 11. The tallow market is unchanged, At the sales to-day SOI casks were offered, and 378 sold. Tallow statistics are :—

The Bank of New Zealand, produce department, has received the following advice from its London office, under date October 11:—Tallow: There is a fair demand. Current quotations: Good mutton. 23/- to 23/6 per cwt.; good beef, 21/6 to 22/-; good mixed, 21/- to 21/6; ■gut, 18/- to 19/-. LIVE STOCK MARKET Wanganui Sale Prices Sheep and pigs sold at late rates at Freeman R. Jackson and Co.,' Ltd.’s Wanganui sale on Wednesday. Fat cattle made late rates, but dairy sorts were not in demand. At the grade bull fair 50 head of all ages were 'offered, but outside of very good yearlings and two-year-olds it was a very dull sale. The top price was 10} guineas for a two-year-old pedigree bull. Prices were:—Sheep: Prime woolly ewes, 18/9 to 19/-; fat woolly ewes, 15/2 to 16/-; fat shorn wethers, 15/- to 18/3; fat shorn ewes, 12/10 to 13/9; light fat hoggets, 15/- to 16/6; fat lambs (the first offered this season), 19/6 to 20/6; good line wether hoggets, 18./2. Cattle: Prime S.H. heifers, heavy weights. £6 to £6/5/-; prime S.H. cows, to £6/2/6; fat P.A. hoifers, £4/15/- to £5/2/6: light fat cows, £3/7/6 to £4 10/-; fat ex-dairy cows, £2/10/- to £3 17/6; light fat Jersey heifers, £2/3/- to £2/15/-; light fat bullocks, £4/12/6 to £6/2/6; good yearling Jersey heifers, £3 3/- to £3/8/-; Jersey heifers, close up, £3/10/- to £4/5/-: springing Jersey cross heifers, £2/5/- to £3/7/6. Pigs: Best baconers, £2/15/- to £2/19/-; baconers, £2/1/- to £2/12/-; heavy porkers, 30/to 38/-; light porkers. 26/- to 30/-; forward stores, 23/- to 26/-; good slips, 18/to 20/-; slips, 15/- to .17/6; weaners, 14/6 to 16/6; poor weaners, 9/6 to 11/-. Aged cows, £l/5/- to £2; aged ped. bulls, 3J to 4gns.; 2-year ped. bulls, to lOjgns.; good grade 2-yr. bulls, to 7gns.; grade 2-vr. bulls. 3to 4}gns.; good yearling bulls, to 4gns.; ylg. Jersey bulls, 1} to 3gns. Pedigree Cattle Fair For quality and condition this qear’s entry at Freeman R. Jackson and Co.. Ltd.’s annual pedigree bull fair, held at Wanganui on Wednesday, was the best they have offered, but bidding was slow. Of the 59 yearling and two-year-olds offered 50 were sold, but the demand wad very dull for older bulls. The top price offered at the sale was 40 guineas for Mr. L. Cameron’s two-year-old Finray Noble Bay. which was passed in. The following were the sales:—W. C. Morgan’s 2-vear, 6}gus.; John Robb s 2year, 5 to 13gns.; Jas. J. Taylor’s 2-year-olds. 12 to 14}gns.; Mrs. F. Bristol’s yearlings. 3} to oigns..; A. Roy Billmghursts vearlings, 8 to 20gns.; T. R. Remington s yearlings, 13 to 15gns.; J-/J. O Retlly s yearlings, JO).to 21gns,; A. G. W . Muir s yearlings, 4to Ggns.; L. Camerons 2year passed at 40gns.; yearlings, 6 to SJ gns.: T. E. Watson’s 2-year, 10}gns.; yearling. 6Jgns.; J. L. Lithgow’s year, iing, ,14gnd.; James Farr’s yearling. la "ns ; B. N : McKenzie’s yearlings, 8 to J gns.; W. E. Broderick’s yearlings, 5 to 6}gns. Mrs. E. M. Hartly’s yearling, 12} gns.; W. J. Cooper’d yearling, . Shorthorns 4 to 7gns.: Mr. L. Campions -- year-olds. Ggns.: B. M. McKenzies aged. Signs.; Percy Cox’s aged. 4}gns. Hawke’s Bay Prices By Telegraph.—Press Association. Hastings. October 11. A yarding of 250 head of fat cattle met an even demand at Stortford Lodge to-day, when local buyers did the bulk of purchasing. Bullocks were in greater numbers. Bullocks, medium to prime, £(>/;.»/- to £9; others, from £5/2/6; cows, medium to prime. £4/7/6 to £5/2/-; others, from £2/17/6; heifers, medium to prime. £4 10/- to £5/5/-; others, from £3. Five hundred store cattle were yarded, the market being on a par_ with last week’s rates. Steers. £l/10/- to £4; bullocks, £3/2/6 to £5/4/-; cows, to Some 600 fat sheep were yarded, rates being up on last week, ewes and wethers improving slightly in values. Ewes, medium to prime, 18/- to 22/-; shorn. 14/- to 18/6; others from 11/-; wethers, medium to prime. 20/- to 25/-; shorn. 15/- to IS/-; others, from 18/-; hoggets, to 19/6: spring Jambs, to £l. There were 3500 store sheep yarded, and hoggets were slightly easier in some cases. Wethers and ewes, with lambs, made prices on a par with last week’s rates. Ewes, empty, to 10/-; ewes and lambs, all counted, to 15/2; wethers, none enieretl; hogget®. to 21/2.

ALL WOOLS FIRM

Active Demand in London

OFFERINGS WELL CLEARED By Telegraph.—Press Assn.—Copyright. London, October 11. Offerings of wool to-day were 6305 bales, including 4839 bales of New Zealand. Approximately 5370 were sold. Merinos? greasy, from New South Wales, made 16}d.; from Western Australia. 13}d.; scoured merinos, from Queensland, sold at 25}d. New Zealand scoured merino. Algidus. made 22d.; New Zealand greasy crossbred, EIIA, sold at 12d. highest, and 9]d. average. New Zealand slipe. haifbred lambs, TBS, Canterbury, made 16d. highest, and 13 7-Bd. average. Compared with the July closing rates, fine merinos in the grease were 10 per cent, dearer, merinos in the grease, medium to inferior, were 5 per cent, up; fine merinos were unchanged; medium to coarse merinos were also unchanged. Merino locks and pieces advanced 10 per cent. Merino lambs showed advances of 10 to 15 per cent. Fine crossbreds were 10 per cent, up; medium to coarse were 15 per cent, dearer; best quality slipes advanced 5 per cent., but others were unchanged. The total bales caatlogued amounted to 167,969. Of this quantity sales to the Home trade were 76.500 bales,, to the Continent 74.000. to America 2000. Held over, 39,300 halos. Total Australian wool sold was 57,000 bales, and New Zealand 78.500. COMPETITION KEEN Closing Range of Prices The following cabled reports covering the close of the London wool sales and the trend of prices were received in Wellington yesterday : — The Bank of New Zealand, Produce Department: The sales have closed firm for all kinds of wool. There is an active demand by Home and foreign buyers. Per lb.

Bank of New South Wales: London wool sales close, slipe 5 per cent, lower; others firm at opening rates. Good general competition. Levin and Co., Ltd.: The auctions closed here to-day firm. Generally speakbuyers were operating freely. Compared with the opening rates, the market is unchanged, with the exception of inferior merino and shabby slipe, which are 5 per cent, to 7} per cent, cheaper. The general outlook at the moment is favourable.

Dalgety and Company, Limited;— London wool eales closed active; competition more general; strong tone. As compared with closing rates, last series: Greasy merino. Id. to l}d. higher; scoured merino, Id. to l}d. higher; greasy halfbred, Id. to l}d. higher; scoured halfbred, l}d. to 2d. higher; greasy fine crossbred, }d. to Id. higher.; greasy medium crossbred, sd. to Id. higher; greasy coarse crossbred, id. to id. higher; scoured crossbred, id. to Jd. higher; fine slipes, id. to Id. higher; other descriptions slipes, Jd. to Id. higher; greasy lambs, id. to Id. higher. The following is the range of prices:— Merino— d. d.

Murray, Roberts and Co., Ltd.: — Sales have closed with a good tone. Competition keen. Home and German buyers principal operators, and buying freely. Compared with last London sales’ closing rates: Greasy merino, best descriptions, advanced 15 per cent; greasy merino, wool suitable for Yorkshire, advanced 10 per cent; wool suitable for Continent, advanced 5-7} per cent; scoured merino advanced 5-7} per cent; crossbred greasy comeback advanced 10-15 per cent; crossbred greasy fine advanced 15 per cent.; crossbred greasy coarse to medium advanced 10-15 per cent; faulty and inferior descriptions show the least, advance: slipe, medium to fine crossbred, best, descriptions, advanced 10-15 per cent. Other descriptions advanced 5-7} per cent. Crossbred scoured, medium to fine, best descriptions, advanced 10-15 per cent. Other descriptions advanced 5-10 per cent. Quotations: — d. N.Z. Merino, 60/64’s, yielding 48 per cent 12} Halfbred, 56’s, yielding 64 per cent. 12} Super fine crossbred, 50’s, yielding 70 per cent 9} Fine crossbred. 48/50’s, mixed preparing and carding, yielding 72 per cent 8} Fine crossbred. 46/48’s, mixed preparing and carding, yielding 74 per cent 7 Medium crossbred. 44/46’s preparing. yielding 76 per cent 6} Medium crossbred, 41/46’s. carding, yielding 74 per cent. ........ 6i Coarse crossbred. 40/44’s, yielding 75 per cent 6 Low crossbred, 36/-10’s. yielding 76 per ennt. None

Wright. Stephenson and Co., Ltd., and Abraham ami 'Williams, Ltd. .-—The September/Oetober series closed before an average attendance of buyers. There was a very good selection of wools offered. The market was firm, and competition animated; Continental and Bradford buyers being the chief operators. A total of 161,500 bales were offered for the series, of which 152,500 bales were sold.

New Zealand Loan and Mercantile Agency Company, Limited :—The sales closed firmly to-day. As compared with last sale’s closing rates, prices are higher Id to IJd per lb for scoured merino and fine greasy crossbred. Prices arc higher Id per lb for merino and crossbred lambs, and medium greasy and scoured crossbred. Prices are higher }d to 1d per lb for coarse scoured crossbred, greasy merino, nnd fine and medium crossbred slipe. Prices are higher Jd per lb for coarse greasy crossbred and coarse crossbred slipe. Prices are higher 1} per lb for fine scoured crossbred. Quotations for good average New Zealand greasy fleece wool: —6-I's. 14d to 15d : 60/64’s. I2}<l to 1-ld: 56/58's, 14d to 15d: 56's. 13d to Lfd: 50’s. 9d to lid; 4S/50’s. Sd to 9Jd: 46/48’s. Gid to 7S<l; -14/.lG’s. 6}d to 7d: 40/44's, 51<1 to GJd ; -10’s. 55(1 to 6}d ; 48's. 7d to Sd : 46’s, (ltd to 7d. New Zealand Farmers’ Co-operative Distributing Co., Ltd.:—Wool sales closed to-day. Prices compare with closing rates last series:—-Merino, greasy, good (0 super, 7} per cent, to 10 per cent, up; merino greasy, low to medium, 5 per cent, to 7} per cent, up; merino scoured, good to super, and low to medium. 5 per cent, up; greasy fine crossbred. 7} Rgr cent, to 10 per cent, up: greasy medium crossbreds. 10 per cent, to 15 per cent, up; greasy coarse crossbreds, IO per cent. up. Scoured fine

crossbreds, 5 per cent, to 7} per cent, up: medium and coarse, 5 per cent. up. Slipes, line, 5 per cent, to 7} per cent, up; medium and coarse. 7} per cent, to 10 per cent. up. Closing values: Merino, greasy, good to super, demand equal to higher retail values. Merino, low to medium, 1/- to 1/3}; merino, scoured, good to super, 1/11 to 2/3 ; merino, scoured, low to medium, 1/5 to 1/9. Greasy fine crossbreds, 1/1 to 1/4}; greasy medium crossbreds, Sjd to 10}d; greasy coarse crossbreds, 6}d to 73d. Scoured fine crossbreds, 1/5 to 2/-; scoured medium crossbreds, lid to 1/3; scoured coarse crossbreds. 7d to lOd. Slipes. fine, 1/- to 1/4}: slipes. medium. B}d to 1/0}; slipes. coarse, 6}d to lOd. Total sold, 138,000 bales; to Home trade. 71,000 bales; to Continent. 65,000 bales: to America, 2000 bales. Carried forward, 80,000 bale*.

N.Z. GOVT. LOANS. Buyers. £ s d Sellers. £ s d 4 p.c. Bonds, 1040 .... lot 5 0 — 4 d.c. ditto, 1946 .... 101 5 0 — 4 p.c. ditto, 1949 .... 102 0 0 —• 4 p.c. ditto, 1955 .... 101 10 0 98 — Rural Advance Bond . — 0 0 5$ p.c. Ins. Stk., 1939-43 100 7 6 — 31 p.c. ditto, 1939-52 .. 101 0 0 — 34 p.c. ditto, 1938-43 .. 100 7 6 •— 34 p.c. ditto, 1939-52 .. 101 0 0 — 4 p.c. ditto, 1940 .... 101 7 6 — 4 d.c. ditto, 1946 .... 101 0 0 — 4 p.c. ditto. 1049 .... 102 0 0 — 4 p.c. ditto, 1955 .... 100 15 0 DEBENTURES. Auck. City, 5} p.c., 1944 101 0 0 — C'hch. City. 5} p.c., 1944 101 0 0 Dunedin City, 54 p.c., 1944 101 0 0 — Wgtn. City. 54 p.c.. 1040 101 0 0 —— Wairere E.P, Bd., 6 p.c.. 1/12/1961 - 102 10 0 Waltomo County Council, ■ 102 6 p.c., 1961 — 5 0 Wgtn. Gas Co 101 0 0 — Wgtn. Racing Club .. 95 0 0 — BANKS. Australasia 12 15 0 13 2 0 Comrcl. of Aust, ord. . 0 16 10 0 17 2 Eng., Scot, aud Aust. . 5 17 0 6 0 0 National of Australasia, £5 paid — 14 6 New South Wales 34 0 0 34 12 6 New Zealand 2 7 9 2 8 1 Ditto, “D” long term — 1 ll> 9 Union of Aust 10 5 0 10 10 0 FINANCIAL. Abraham and Williams — 8 0 0 Dalgety and Co 10 15 0 Goldsbrough. Mort and Co 1 8 10 1 9 2 National Mortgage, “A” 2 10 Ditto, “B” 1 7 0 — 3 — N.Z. Guarantee Corpn., ord., cum. rights .. *0 7 11 0 8 2 N.Z. Invest., Mort, and Deposit 0 8 3 — N.Z. Loan and Merc., ord. stock — 67 0 0 Wgtn. Invest.. T. & A. 0 5 8 — Wellington Trust, Loan 4 0 0 —■• Wgtn. Den. & Mortgage 0 3 Wright, Stephenson, 6 prof 0 18 N.Z. Farmers’ Co-op. 8 stock 59 0 0 — GAS. Christchurch, contrib. . 0 13 4 0 i 4 0 t Wellington, ord — 1 14 fli Ditto, pref — 1 4 0 INSURANCE. •rational of N.Z 0 18 2 *S 15 South British — 0 MEAT. Gear Meat, cum. rights — 1 12 f> N.Z. Refrig., £1 paid . 0 19 0 0 19 9 Ditto, 10/- paid ... 0 8 8 0 9 0 Southland Frozen Meat. coutrlb 1 7 0 —- Wgtn. Meat Exp., pref. 0 15 6 — TRANSPORT. (Inion Steam, pref 1 4 3 1 s 0 WOOLLBN. Wellington, ord — 5 15 0 Ditto, pref — 6 12 G COAL. Westport 0 13 3 — Westport-Stockton, pref. O 1 9 — TXMBBR. Kauri 0 12 0 0 15 0 National — 0 7 0 Tarlngamutu Totara .. 0 2 fl — BREWERIES. N.Z. Breweries 1 17 6 1 18 3 Staples and Co 1 8 Tooth and Co 2 1 0 1 9 0 0 — MISCELLANEOUS. British Tobacco, Aust. . 1 17 0 1 17 6 Colonial Sugar 59 0 0 50 15 0 Dominion Investments 1 3 D.ord 0 12 0 9 — Dunlop Perdrlau 0 19 0 0 19 4 Howard Smith, ord. ... 0 14 6 N.Z. Farmers’ Fertiliser 0 15 6 N.Z. Newspapers 1 7 6 — Prestige (N.Z.), Ltd., pref — 1 3 0 Sharland and Co., pref. *1 2 O —- B ilson’s Cement 1 5 fl Dominion Fertiliser .. 0 13 6 _- OIL. Moturoa, ord 0 1 8 MINING. Alexander — 0 15 3 Bell Hooper 0 0 : 1} 0 1 04 Ditto, fully paid .. — 0 1 3i Boll Kilgour 0 1 6 0 1 8 Big River — 0 1 74 Central Shotover 0 1 1 0 1 3 J, •King Solomon 0 3 4 0 3 5 IMahaklpawa 0 0 1 IMataki — 0 2 4 ’Mount Lyell 1 4 0 1 4 3 Nokomal O 3 1 0 3 3 Okarito 0 10 6 Balbi »1 5 9 1 7 0 Wnlhi Grand Junction — 0 4 7 Waitnhu 0 7 1 Nevis Diesel — 0 0 9j •Cum. dividend. ————— Unofficial List — Buyers. Sellers. £ s d £ 8 d Invest., Exec. Trust, **W debentures ..94 0 0 Skippers — 0 0 4 Moonlight Nelson Creek 0 0 9 0 1 3 Maerewhenua 0 0 9 0 0 10}

Oct. 10. Per ton. Oct. 11. Per ton. Copper— £ s d £ s d .standard, spot ... 33 18 II :« (i 3 Standard, forward 34 1 10} 33 9 4} •Electrolytic ..... 37 5 0 38 10 0 to 37 10 0 37 S 0 Wire bars ....... 37 10 0 37 5 0 Lead— Forward .•••••.. 11 17 6 11 16 3 Spot .. .•»•••••••• 12 5 0 12 3 9 Epelter— Spot ....... 10 13 9 16 10 0 Forward 17 0 0 10 15 0 Tin— fSpot 221 18 9 1 2+ 0 0 Forward 224 18 9 : *23 18 9 Silver— Standard, per o«. . 18 5-1 (id 1&.5-lGd Fine 19] d l&j-d

WELLINGTON. Sale £ Return on price, inves’m’t. 8 (1 £ s n Comm. Bank of Aust. 0 1 17 0 o 18 fl Bank of N.Z 2 S 3 4 13 3 Ditto 2 8 1 4 13 7 Union Bank of Aust. 10 6 2 8 Henrv Jones Co-op. .. 11 19 4} 4 8 11 Alexander Mines, contr. 0 1 .5 —. Bell Hooper 0 0 1 llj Ditto (2) 0 1 0 King Solomon 0 .3 4 Nokomai 0 2} Bendigo Goldllght .... 0 0 7 — AUCKLAND. £ fl d £ 8 d laser. Stock, 3} p.c., 1939-43 100 17 6 3 9 4 Mt. Eden Boro., 5 p.c., 1052 05 0 0 . Ditto, 5} p.c.. I960 . 96 10 0 — Comm. Bank of Aus. (21 0 17 0 2 18 9 Bank of N.Z. (2) 2 8 0 4 13 9 Unlop Bank of Aust. . 10 7 0 o 8 3 N.Z. Guarantee Corp. . 0 8 0 3 X. 0 N.Z. Breweries 1 18 0 3 13 8 Colonial Sugar 59 5 0 4 4 0 Farmers’ Trading ... 0 3 6 —— Big River 0 1 0 —— Gillespie’s Beach 0 2 1 — King Solomon 0 3 41 —■ 10 8 Unofficial list:— John Fuller, 6} p.c., 1949 75 10 0 8 12 2 National Tobacco, pref. .. 1 7 6 5 16 4 Sun’ Newspapers 0 3 10} CHRISTCHURCH £ s d £ s d laser. Stock, 4 p.c., 1940 102 5 0 3 12 7 Nat, Bank of A/asla, £5 paid 6 13 0 3 15 2 Bank of N.Z 2 8 0 4 13 9 Goldsbrough Mort ... 1 9 0 1 11 0 N.Z. Refrig., contr. (2) 0 8 10 —— Ditto 0 8 0 - Anthony Hordern (4) 0 13 0 —. Tooth and Co 2 o 6 3 15 3 Ditto 2 o 7 3 15 1 Dittp 2 o 8 3 15 0 Dunlop Rubber 0 19 1 4 3 10 Electro. Zinc, ord. ... 1 5 11 — Mount Lyell ......... 1 4 0 t N.Z. Farmers’ Co-op., 4} p.c., 1940 65 0 0 6 18 6 Boll Hooper 0 1 0} — Alexander Mines, contr., (2) 0 15 0 ■ Ditto (8) 0 14 9 — Central Shotover (2) 0 1 3 . — Golden Point (2) .... 0 0 2 — New Cornish Point . o 1 0 — Waltahu O 7 1 ,, Ditto 0 7 1} Sales reported:— N.Z. Insurance 2 14 6 3 13 5 N.Z. Refrig., contr. .. 0 8 10} N.Z. Farmers’ Co-op., 44. 1940 64 10 0 6 19 7 flnterim dividend passed. DUNEDIN. / £ 8 <1 £ B d N.Z. Refrig., 10/- pd. 0 8 11 Nokomai 0 3 o ■*> II— Bell Kllgour (4) 0 1 7 Bell Hooper O 1 0} — Ditto O 1 0} Oxenbrldge (2) 0 0 9f —-

N. York, dol. to £ 4.05-1-4.605 4.8456 Montreal, dol. to £ 4.70-} 4.791 4.866 Paris, fr. to £ 79 9-32 78 31-32 124.21 Brussels, >bel. to £ 22.30 22.195 35.00 Geneva, fr. to £ 16.03 15.95 25.225 Amet’dam, fl. to £ 7.70 7.665 12.107 .Milan, lire to £ 59.125 58 15-16 92.46 Berlin, mks. to £ 13.025 12.975 20.43 Gt’holm, knr. to £ 19.39 19.39 18.159 C’hagen, knr. to £ 22.40 22.40 18.159 Oslo, knr. to £ 19.00 10.90 18.159 Vienna, scbgs. to £ ♦28 ♦28 31.585 Prague, knr. to £ 101.50 103.87-5 164.25 HelTora, mks. to £ 220.50 226.50 193.23 [Madrid, pcs. to £ 37 5-32 25.225 Lisbon, esc. to £ 102.75 102.50 110 Athens, drach. to £ 557/50 500 375 Belgrade, din. to £ 905 276.31 Bucharest, lei to £ 522.50 ,»z;» 813.60 Warsaw, zloty to £ —— — 43.38 Bio de J., p. to mil. 14 3-8 74 3-8 5.899 B. Aires, p. to peso 745 745 47.62 M. Video, p. to peso ’37 •37 51 Calcutta, p. to rup. 18 3-04 18 3-04 18 Shanghai, p. to dol. IF. 5-10 — — H.-Kong, p. to dol. 17 — Y’hnms, p. to yen 11 3-lfl 14 3-16 24.582 Batavia, fl. to £ — — 12.107

Aug. 10. Casks. Sept. 8. Casks. Oct. 11. Casks. Stocks ... . 1401 1028 2305 Imports . . 051 1173 1259 Deliveries . 1124 640 702

d d Merinos— Super 6O/64’s 15 to 16 Ordinary 60/64's ... ... 13} „ 144 Inferior 60/04’b ... ... 10}„ ioi Halfbreds— 56s ... 14 „ 15 50/56’s ... 11 „ 12 Crossbreds— 50s ... 8} „ 9} 48/50's ... 8 „ 8} ... 6J„ 7} 46/48's 44/46’s 40/44’r ... 6}„ 7 36/40’s 51 „ 6}

Good to super . Low to medium . 14$ to — . 11 to 14 Halfbred, 56/58— . 14itol6 Good to super Low to medium . 11 to 14 Halfbred, 5O/JX5— . 13 tol4j Good to super Low to medium lOito 12i Fine Crossbred, 48/50 — . 9 toll Good to medium Low to medium . 7 to 8i Fine Crossbred, 40/48 — . 8 to 9} Good to super Low to medium . 6} to 7} Crossbred, 44/46 — Good to super . 7 to 8i Low to medium 6 to 6} Crossbred, 40/44 — to 7 J Good to super Low to medium . 5} to 61 Coarse Crossbred, 36/40 — Good to super . 6 to 6J Medium to good . 5J to 5i