FINANCE AND COMMERCE

Dominion, Volume 27, Issue 32, 1 November 1933, Page 12

FINANCE AND COMMERCE

STOCKS. AND SHARES Gilt-edgeds Firm and Active OTHER SECTIONS QUIET Interest of buyers yesterday' « Wellington Stock Bxch^£ a Jd Sf- £ “£ a .,X«’ £» •f’-j ■>£ *' The principal feature in banks was a tio NalS oTNew 5 &V& jzy»« «s 12/6 sellers holding for £o4/o/ • . Snercial of Australia were a penny lower I litorals were in fair demand, GoWsbrough Morts firming 3d. at 29/0. «« tional Mortgage 710/9A ’“z. K EltefS “«»«>/- O» wfs an improved demand .for coal and timber shares. N.Z. Breweries.gainedl9d. it ; 36/3, Tooths remaining steady at 42 /. Miscellaneous shares were Quiet, and no improvement was seen in the mmm„ WELLINGTON EXCHANGE Latest Quotations Tha latent buying and selling Quotado?. 9 on the wfui/gton. Stock Exchange yesterday were as follow.—

Dollar Conversion Rates The Associated Banks have agreed that rhe conversion rates from October 31 will be:— U.S.A. Canada. Conversion of dollar bills received for collection and sale of dollar drafts 4.68 4.75 Purchase of dollar bills . 4.88 4.95 These conversion rates are, of course, ascertained on a sterling basis (London funds), and therefore current rates, of exchange New Zealand on London will also |be charged or allowed a# the case may jreqnire.

DEALINGS ON ’CHANGE Sales Recorded Yesterday RETURN ON INVESTMENTS c h S a%7e»y°are list In the second column is g yen the return based on the last annual dividend, from investment at tho quoted price. Tn calculating the return on shares in companies which pay their dividends outside Slew Zealand the exchange rates have not hppn taken into consideration. Ihe re turn on 4 per eent. Government loans innlndes redemption. In the case of 3i P er cent, loans the return is for * nte^? fc . * lo 2L e ’ and covers only the period for which the loans are tax-free. No return is S^ v . en local body securities and debentures m the meantime,

SYDNEY STOCK EXCHANGE Gold and Pastorals Firmer By Telegraph.—Press Assn.—Copyright. (Received October 31, 8.30 p.m.) Sydney, October 31. On the Sydney Stock Exchange operations are slackening, with a tendency to irregularity in retail trading shares, but gold and pastoral shares generally are firmer. , „„ Sales: National Bank, £5 paid,. £6 12/6; Colonial Sugar, £62; Associated News, 20/3 ; ditto, pref., 20/3; British Tobacco, 38/1} ; Dunlop Perdriau, 18/9; Goldsbrough Mort, 30/4}; Anthony Hordern, 13/3; David Jones, 35/3; Wilcox Mofflin, 10/2; Henry Jones. 35/6; Electrolytic Zinc, 26/6; Morris Hedstrom, 19/6’; Carlton Brewery, 45/-; Tooths, 43/3; North Broken Hill, 87/6; South Broken Hill, 65/3; Bulolo Gold, New Zealand delivery, £5/2/-; Mount Morgan, 52/3; Kuala Kampar, 12/-. Commonwealth bonds, 4 per cents., 1938, £lO4/17/6; 1941, £lO5/7/6; 1947. £lO5 1/3; 1950, £lO5/5/-; 1953, £lO5/10/-; 1955, £lO6/2/6; 1957, £lO6/10/-; 1959. £lO5/5/-; 1961, £lO5/15/-. Morning sales included Commonwealth bonds, 4 pet- cent., 1938, £lO4 17/6; 1941, £lO5/10/-; 1959, £lO5/3/9; Bank of New South Wales, £33/17/6; Associated News. 20/3; ditto, pref., 20/3; Broken Hill Proprietary, 40/9; Goldsbrough Mort, 30/4}; Wilcox'Mofflin, 10/2. , Melbourne, October 31. Sales: National Bank. £5 paid. £G 13/6; Metropolitan Gas, £l2/15/-: Goldsbrough Mort. 30/44; Herald and Weekly Timers. 48/-; Mount Dyell, 23/-; North Broken Hill, 88/-. FOREIGN EXCHANGES Position of Sterling (British Official Wireless.) Rugby, October 30. The following rates on foreign exchanges were current to-day. compared with those ruling on October 28: —

Gold and Silver. London, October 30. Gold.—£o/11/2} per fltie ounce. Silver.—Cash, 18Jd per ounce; forward, 18 3-Bd. Austin Motor Company Very favourable results for the past year are indicated by the dividend and bonus announced last month by the Austin Motor Company. After declaring the fixed 20 per cent, dividend on the £750,000 of preferred ordinary shares, the directors recommend a dividend of 25 per cent, and a bonus of 75 per cent, on the issued ordinary capital of £150,000. In all ordinary shareholders thus receive a distribution of 100 per cent., absorbing £150,000, for the 12 months to July 31 last, whereas for 1931-32 they received a dividend of 25 per cent, and a bonus of 25 per cent.

D.I.C. YEAR Much Improved Results CHAIRMAN’S REVIEW Dominion Special Service. Dunedin, October 31. Improved figures compared with last year’s returns were contained in the annual report and balance-sheet presented to the shareholders of the Drapery Importing Company of New Zealand, Ltd., at the annual meeting this afternoon., Mr Willi Pels, chairman of directors, said that after the trying conditions ot the last year, which had continued to some extent until recently, it was wi.h some satisfaction that the directors could present a balance-sheet with much im"SEil&a. «i o»> debtedness to the National Bank of New Zealand has been decreased from £48,702 last year to £5197, and the item sundry creditors, which was reduced last year by £57.428. shows a further reduction of £4425, and now stands at £2o6,bib. Ke serves are about the same as last year (£85,334), and, with the addition of the balance carried forward, £2B,uBi. make a total of £113,722, representing over 2b per cent, of the paid-up capital of the •company. , , “Comparing the profit.and Ipss aecount, gross profit at £190,6 <9. is £6OlO less than last year, but disbursements are 8 £173.573. against £193,833, showing savings of £39,260. comprising trade expenses, interest, fire and earthquake insurance, smaller bad debts, etc. “Comsidering the difficult trading conditions of last year, the profit and loss account disposes a most encouraging result, full of promise for the future. The directors are glad to be able _to recommend payment of a dividend of 5 per cent, per annum on the preference shares, and 2} per cent, per annum on the ordinary The report was adopted, and Mr. P. L. Halstead and Mr. Alfred Eels were reelecgd directors. A summary of the company' s accounts and results was printed in this columns on October 13. DALGETY & CO., LTD. Final Dividend 2| Per Cent. ——— \ The New Zealand superintendent for Dalgety and Co., Ltd., has received advifce from the company’s head office in London that at the annual meeting to be held on November 23 the directors will recommend declaring a final dividend of 2} per cent., making (with interim dividend already paid), 5 per cent, for the year ended .Tune 30 last. The dividend will be payable on November °7 ” The directors propose transferring £lO,OOO to the staff provident fund,.and carrying forward the sum of £l3l,Jw. BURNS, PHILP & CO., LTD. Interim Dividend ' Burns, Philp and Company Ltd., Sydney, yestprday advised the Stock Exchange that at a meeting of directors on October 26 it was decided to pay an interim dividend at the usual rate of 10 per cent, per annum for the six imonths to September 30. The dividend is payable on November 15, an<T transfer books will be closed from November 1 to 15, inclusive. MOSGIEL WOOLLEN CO. Dividend and Bonuses Dominion Special Service. '' Dunedin, October 31. The annual report of the Mosgiel Woollen Factory Co., Ltd., which will be presented at the annual meeting of shareholders on November 14,. states that although depressed marketing conditions have continued during the past year, the directors are glad they are able to show a satisfactory result. . , After payment of the interim dividend on April 6 last, absorbing £3815/4/-, providing £5OOO for depreciation, and transferring £2OOO to reserve, there remains a balance of £16,535/12/7, which the directors recommend should be dealt with as follows: —That a final dividend be paid of 4 per cent., and a bonus of 2 per cent., absorbing £5722/16/-, making 10 per cent, for the year. In view of this being the company s diamond jubilee year, and the sixtieth year of Sir John Roberts’s chairmanship, die directors further recommend that a cash bonus of 7/6 per share be paid out ot reserve. The directors also report that a bonus will be paid to the staff and employees of the company. BASE METALS MARKET Copper and Tin Firmer By Telegraph.—Press Assn.—Copyright (Received October 31, 7.40 p.m.) London, October 30. The official London (middle) quotations for Monday, as reported by the Australian Mines and Metals Association, compare as under with those previously Cable,l: “ Oct. 27. Oct. 30.

tAmerlcan, 48.30 cents a lb. •American, 8.25 cents a lb. Donaghy’s Rope Dividend An interim dividend of 9d a share has been paid by Donaghy’s Rope and Twine Co., Ltd., Dunedin. The dividend is at the usual rate. Upper Shotover Gold Mine The Upper Shotover Goldmining Company has advised the Stock Exchange Association that the 40,000 one shilling shart» previously reserved are now offered to shareholders in the proportion of onefourth of their holdings. The share register will be closed from November 10 to 30. ' U.S.A. Wheat Markets By Telegraph.—Press Assn. —Copyright New York, October 30. Chicago wheat: December, 8&i cents a bushel; May, 90} cents; July, 86} cents; New York, cash. 96 cents.

DIFFICULT TRADING Abraham and Williams, Ltd. A DEBIT BALANCE The directors of Abraham and Williams Limited in their statement of accounts for the year ended September 30, 1933, show that the net trading profit for the year amounts to £16,379/8/7, to which has to be added the amount brought forward from last year, £4125/16/4, making a total of £20,505/4/11. The above figures make no provision for bad and doubtful debts, or for unpaid interest on farmers’ advance accounts, and the directors have deemed it advisable to provide for these items an amount of £32,680, leaving a debit balance of £12,174/15/1, which has been transferred to reserve account. In their last year’s report the directors stated that “until conditions are such that sheep farming is again a profitable occupation, it will be difficult for this company to make profits.’’ After that statement was made the prices of all sheep-farmers’ products continued to fall up to May last, by which time practically tlie whole of the sheep-farmers’ produce for the season had been marketed. Since then markets have improved to some extent and the outlook is better. At the same time no sheep-farmers’ produce for the 1933-34 season had been marketed at the date of the company’s balance, and farmers have yet to receive the benefits of the rise in prices. The only farmers’ produec yet marketed for the current producing season is dairy produce, and London prices for this have been consistently below the prices ruling at the corresponding period of 1932. The chief help the farmer has had up to the present has been that arising from the widening of the exchange rate. The directors record with deep regret the death on August 18 of their colleague, Mr. Samuel -Bolton, who had been a director of the company since its incorporation in 1901. The retiring directors, Sir William Hunt and Mr. David Allan, offer themselves for re-election. In previous years the company's net profits were as follow: 1927, £15,506; 1928, £16,775; 1929, £18,355; 1930, £15,686; 1931, £3321. For the year ended September 30, 1932, the company made a loss of £4786, the first half-year’s preference dividend only being paid Preference dividends at the rate of 6 per cent, per annum were previously paid. The dividend on ordinary shares was 5 per cent, up to 1930 and 2} per cent, for 1931. / The balance-sheets compare as follow : —

GRAIN AND PRODUCE Auckland Markets Dominion Special Service. Auckland, October 31. Business in southern potatoes is now of comparatively small dimensions as the Pukekohe crop is being dug and prices for new season’s have been substantially lowered. Arrivals from Lyttelton this week were light and just about sufficient to meet the lessened demand. Prices therefore showed little change, tubers being generally quoted from £o to to 10/- per ton. There is still limited business in seed lines. . , Pukekohe onions are virtually finished, but the market is well supplied with Canadian, values for which have eased slightly. Local are quoted at 9/- to 10/per cwt., and Canadian 14/- to 14/6 per b3 The oats market has advanced in the south, but no change has taken place in local quotations, and B Gartons still sell at 2/11 per bushel. Chaff values show no alteration. . The wheat market continues firm and merchants have raised prices for graded lines 3d a bushel to 5/3. Supplies in the south are short and a fair quantity will still be needed before the new season s wheat becomes available. Maize is unchanged at 4/- to 4/2 per bushel. Lines still come freely from the Bay of I lenty and there is no need to call upon Uisborne for supplies. The Australian market for pollard has eased slightly, but only small quantities are offering at the lower price Local quotations are steady at £7 to £7/5/- per ton. Bran is unchanged.' FRUIT AND VEGETABLES Wellington Market Prices Prices of fruit, vegetables, and other produce in the Wellington markets this week are quoted by Laery and Co., Ltd., Geo. Thomas and Co., Ltd., Thompson Bros., Ltd., Townsend and. Paul. Ltd.. D. Bowie and Co- Ltd., and W. Burbidge and Co., as follow: — Apples: Fancy grade Delicious, 8/- to 10/- a bushel case; fancy grade Stunners, 8/- to 9/6; fancy grade Doughertys, 7/6 to 8/6. . . . Pears: Choice Winter Coles, 14/- to--16- a bushel case; choice Winter Nells, 11/- to 13/-; choice fancy P. Barrys, 10/6 to 11/-; others, 8/- to 9/-. Lemons: New Zealand choice cured, 10/- to 14/- a bushel; tree-ripened, a/- to Passions: Choice, short supply. 14/- to 16/- per box. Gooseberries, 6d. to 6}d. per lb.; bronze plums, 7/- half-case. Potatoes: South Island-grown Dakotas, £5 to £6 a ton; South Island-grown Sutton Supreme. £4/10/- a ton. Onions; Choice Brown Spanish, prime, 9/- to 10/- cwt.; ex cool store. 9/- to 10/- crate. 7/- to 8/- per bag. Cauliflowers, best, 13/- to 16/- per sack; cabbage, choice, spring cabbage. 2/to 4/3 per case; carrots, choice, 6/6 to 7/6 per sack; parsnips, choice, 8/- to 10/per sack; swedes, choice. 4/- to 5/- per sack ;. tomatoes, choice, hot-house, 1/- per lb.; asparagus, choice. 6d. io 9d. per bunch; green peas, choice, Nelson 2}d. to 2|d. per lb., Hawke’s Bay 2}d. per lb.. Otaki 2Jd. per lb.; new potatoes, choice. Pukekohe, lid. to lid. per lb.; kumeras. choice. 4/6 to 5/- per sugar-bag; cucumbers. choice, hot-house. 4/- to 8/- per dozen; rhubarb, choice, 6/- to 11/- doz. bunches; lettuce, -choice, good heart, 2/to 3/- per case. Eggs, fresh, first grade. 10}d. to lid. dozen; walnuts, prime. Bd. to 9d. per lb.; honey, bulk, 3}d. to 4}d. per lb. English Wheat Markets By Telegraph.—Press Assn.—Copyright London. October 30. American developments exerted n little influence over wheat cargoes, but in consequence of the Canadian Government’s rumoured withdrawal of support, Manitobas declined 6d. Australian old crop was more sparingly offered to the Far East preferring to await the American programme of cheap offers. Ex Pacific Coast and King Lud sold 22/6. part of King Edgar 22/6. Parcels are moderately supported. Lx King Edgar 21/6 to 21/71. Futures, London, December 20/1 per quarter, February 20/4, April 20/10; Liverpool, October 4/6 per cental, December 4/7}, March 4/10May 5/OJ.

FROZEN BEEF Clearing Held-over Stocks NEW SEASON’S SHIPMENTS With regard to the beef at present held in store at the various freezing works in the Dominion, arrangements have been made for the shipment of this beef in vessels sailing in December and J-auary. In respect to the new season s kill of beef, the question has been raised as to the position regarding shipments next yC Tlie Now Zealand Meat Producers’ Board has advised the authorities in Great Britain that the quantity ot frozen beef, including boneless beef, to be shinned from the Dominion to arrive next year up to June 30, 1934, will be approximately 500,000 cwt. Experimental shipments of chilled beef are not included in this estimate. The foregoing figure includes the carryover stocks of beef at present held in the Dominion, so that, deducting the quantities of bhef at present held in store, it will leave approximately 300,000 cwt. of new season’s 'beef, which can arrive m the United Kingdom for the six months to June 30. 1934. . . It is estimated that ample provision has been made in the quantity mentioned to cover the normal output of beef in quarters and boneless beef to arrive in this period. SYDNEY WOOL VERY FIRM A Hardening Tendency By Telegraph.—Press Assn. —Copyright (Received October 31, 10.5 p.m.). Sydney, October 31. At the wool sales to-day 13,122 bales were offered, of which 12,743 were sold at auction, 3080 bales being sold pnvatcly* The market was again very firm, with a hardening tendency for all the best descriptions. The demand was most pronounced in the case of fine quality lines. Competition was very strong from Yorkshire, France and Japan. Greasy merino made a new Sydney record at’27Jd for seven bales from Delungra. BUTTER DOWN TO 89/, Cheese Market Slow Joseph Nathan and Co., Ltd., have received from their principals, Trengrouse and Nathan, Ltd., London, the following cabled advice, dated October 30: New Zealand butter: Finest, 89/- per cwt ; firfst 86/- i>er cwt. Weak. New Zealand cheese: White. 46/- per cwt.; coloured, 45/. Slow. LIVE STOCK MARKET Pahiatua Cattle Fair Dominion Special Service. Pahiatua, October 31. At the Pahiatua cattle fair yesterday, Dalgety and Co., Ltd., had a strong demand for run cattle. Although a large yarding of Jersey weaner heifers came forward, practically no business resulted. Account A. M. Stonewigg, empty cows, £l/17/-; P-A. yearling steers, £2/16/-; P.A. yearling heifers, £l/13/-. Account J. D. Piper, cows and heifers, £2/18/-; three-year steers, £3/8/-; P.A. yearling steers, £2/2/-; P.A. cows, £3/16/-. Account Jas. Dick, empty P.A. cows, £2 8/- and £2/10/-; P.A. steers, £4/2/-; coloured steers, £3. Account R. J. Sinclair, P.A. cows, £2. Account Bunny and Tredray, empty P.A. cows, £2/3/-. Account M. Castle, P.A. bullocks, £3/10/-. Account E. Whitcombe, fat P.A. bullocks, £6/14/-. Account J. A. McAnulty, P.A. bullocks, £3/13/-. Account Estate A. Mason, 2 and 3-year P.A. bullocks, £3 15/-. Account Turner Bros., P.A. yearling steers, £3/3/-. Account other clients, P.A. heifers, £2/12/-; Hereford bullocks, £4/6/-; do., ill'll-. The entry comprising 770 head offered by the N.Z. Loan and Mercantile Agency Co., Ltd., was of good quality, and the prices obtained showed an improvement on recent sales. Account J. P. Tylee, 3year steers, £4/15/- to £4/8/-. Account Balfour Estate, 3-year steers, £4/4/-. Account Garlick Estate, £4/2/-. Account Clapham Estate, 3-year steers, £3/17/-. Account L. Harris, 3-year sters, £3/12/-. Account Herbert Bros., 3-year steers, £4 1/-. Account J. Bowie, 3-year steers, £4 3/-. Account H. Holmes Miller, 3 and 4-year bullocks, £4/14/-; 3-year do., £3 13/-. Account P. M. Priest, 2-year steers, £3/7/-. Account J. Bambry, 2 and 3lyear steers, £3/10/-. Account C. E. Bee, yearling steers, £2/18/-. Account J. Bambry, 2-year steers, £2/13/-. Account Checkley Estate, yearling steers, £3. Account Morrison Estate, yearling steers, £2/13/-. Account C. E. Goss, small m.s. yearlings, £2. Account F. H. Groves, 2-year P.A. heifers, £3/2/6. Account Checkley Estate, yearling heifers, £l/18/-. Account C. E. Bee, 2-year P.A. heifers, £2/16/-. Account S. F. Herbert, 2-year P.A. heifers, £2/13/-. Account D. O’Brien, fat heifers, £3/10/-. Account J. Bowie, fat cows. £3/9/-. Account S. McLeod, forward P.A. cows, £3. Account G. Styles Estate, empty P.A. cows, £2/10/-. Account S. F. Herbert, empty P.A. cows, £2/10/-. Account S. McLeod, fat cows, £3/16/-. „

Waipukurau Sale Dominion Special Service. Waipukurau, October 31. A large yarding of cattle, especially store lines, but a meagre entry of sheep was offered at Waipukurau to-day. Fat cattle were on a par with recent values, except for an extra prime Hereford bullock, which topped the market at £B, the highest price for a lengthy period. Stores showed a slight advance. Prices were:—• Good fat Hereford cows, £3/4/- to £4 4/-; prime do. heifers, £5/10/-; medium P.A. bullocks, £4/18/6; prime Hereford bullocks, £4/18/6; prime Hereford cross steer, £5/7/6; good yearling P.A. store steers, £2/16/-; two and three-year do., £3/9/-; yearling P.A. heifers, £l/16/-; Hereford steers, well grown, £3/8/6; P.A. do., £4; big-framed Shorthorn bullocks, £4/2/-. Ewe hoggets, 24/6; ewe lambs, 21/-; prime ewes, 15/-. AUCTION DIARY TO-DAY. 157 Featherston St.. 2.30 p.m.—Sale properties Pohangina Rd. (Gordon Harcourt). Masterton Spring Cattle Fair. 12 noon (N.Z. Farmers’ Co-op. Dlst.). Johnsonville fat stock sale, 1 p.m. (W., S.. and Co.). Parish St.. 10.30 a.m.—Gramophones, wireless sets, etc. (Klngsway Ltd.) Tc Iloro. I p.m.—Unreserved Clearing Sale, a/c J. Put! (J. L. Bennett Ltd.). 113 Austin St., 1.30 p.m.—Furniture (Silverstone.) Bond St., 2 p.m.—Furniture, etc. (Rialto Auction Rooms). TO-MORROW. Martinborougli Cattle Fair, 1 p.m. (W., S. & Co.). 8 Willreton St., 1.15 p.m.—China, Crystal, Furniture, etc. (E. Johnston). FRIDAY. Paintings and Etchings (J. H. Bethune & Co.).

N.Z. GOVT. IOANS. Buyers. find Sellers. £ s d i p.e. Bonds, 1940 .... 102 0 US: dittS: :::: | 100 10 H’p.c. ditto, 1938-52 .. IM « i p.e. ditto, 1040 .... 102 0 t p.e. ditto, 1946 .... 101 15 t p.e. ditto, 1940 .... 100 10 i p.e. ditto, 1950 .... 101 10 0 6 0 0 ,0 0 0 0 0 0 0 0 101 10 102 7 101 10 102 ~5 101 0 101 17 0 6 0 0 0 6 debentures. Auck. City, 54 p.e., 1944 101 0 Chch. City. 5i p.c.» 1&44 101 0 0 0 Dunedin City, Si P-C., , 1944 JO} 5 o |Wgtn. City, 51 p.c.,_1940 101 10 0 Wgtn. Harb. Bd., 5i p.e., 1910 101 10 0 — Wgtn. City, 4i p.e., ■ 39/6/1943 .......... 102 0 0 — Walrere E.P. Bd„ 8 p.e., 1/12/1961 - 103 10 0 Palmerston N., 5j p.e.. 1/6/1948 .......... 00 0 0 Wanganui H.B., 5} p.e., 1940 — 101 10 0 Blenheim Boro., 5J p.e.. 100 5 0 Wellington Gas Co. .. 101 10 Wgtn. .Racing Club .. 95 10 0 Amid. Brick and Pipe (Wellington) ....... — 95 0 Wright, Stephenson, first moxt. deb., 4| p.e. •• 79 0 0 83 10 0 BANKS. 0 17 romrcl. . of Au«t., ord. . 0 16 10 1 fcomrcL Bankg. Co., Syd18 O 0 National of N.Z. •••••• 4 2 Rational of Australasia, £5 paid — fl •6 15 0 New South Wales 33 L; 6 84 5 0 New Zealand *2 7 Ditto. “D” long term — 3 2 7 ‘1 12 6 On ion of Aust. •••««••• — 10 8 0 FINANCIAL. Abraham and Williams — 3 0 0 balgety and Co ..10 9 0 •— Equitable Bldg. Co., £6 , paid - — 2 15 0 jGoldsbrough, Mort and « 1 10 3 National Mortgage, "A* 2 13 0 Ditto, “B” 1 10 0 1 15 6 N.Z, Guarantee Corpn., ord., cum. rights ..OS [N.Z. Invest., Mort, and 3 0 8 5 Deposit 0 3 3 •—• N.Z. Loan and Merc., ord. stock — 64 0 0 N.Z. and River Blate ..14 0 — GAS. Auckland — 1 3 7 Ditto, contrib.' — 9 0 17 6 Christchurch ......... 1 6 1 8 3 Wellington, ord 1 13 0 1 14 3 Ditto, pref 1 2 0 1 4 0 INSURANCE. New Zealand 2 14 8 ■■ * Queensland 2 18 9 —— South British 3 11 6 Standard — 3 1 0 ■■ .MEAT. 1 12 Gear Meat. cum. rights 1 11 6 6 N.Z. Refrig., £1 paid . 0 19 5 —— Ditto, 10/- paid O 9 9 0 9 11 TRANSPORT. 1 11 Huddart, Parker, ord. . — 9 Union Steam, pref 1 4 6 —— P. and O. defd. stk, .. 14 0 — WOOLLEN. Mosgiel 9 5 • COAL. Pukemiro 0 17 6 ... ' ,1'aupiri . O 13 9 •— .Westport 0 13 5 Westpojt-Stoekton, pref. 0 1 10 . TIMBER. Kauri ............... — 0 15 6 i.eyland-O’Brien 0 18 6 —— National 0 6 0 0 7 6 Tarlngamutu Totara .. 0 2 3 — BREWERIES. 1 17 N.Z. Breweries ....... 1 16 3 0 and Co — 1 8 6 Tooth and Co 2 2 0 — MISCELLANEOUS. British Tobacco, Aust. 1 17 9 1 18 6 Colonial Sugar 60 0 0 61 2 6 Dominion Investments 1 3 0 D.I.C., ord »0 13 0 ■■ >. Dunlop Perdrlau — 0 19 0 Electrolytic Zinc, ord. . 1 5 6 1 6 0 Ditto; 8 p.e, pt. pref. *1 14 Farmer? Co-op. Auct’ng., 6 — paid .. 2 10 0 — Henry Jones Co-op. ... — *1 17 0 N.Z. Farmers’ Fertiliser — 0 16 9 N.Z. Newspapers — Prestige . (N.Z.), Ltd., 1 8 0 , Pref. — 1 2 0 Wellington Cordage .. 0 10 0 •— Wilson's (N.Z.) Cement 1 6 6 1 7 6 Woolworths (N.Z.), pref. — 1 15 9 Ditto, Sydney, 7 p.e.. pref — 1 6 6 OIL. Moturoa, ord 0 2 3 —— Ditto, pref — 0 5 0 MINING. Alexander 0 16 6 0 18 0 Ditto, fully paid .. 0 18 Bell Hooper 3 0 1 0 Ditto, fully paid ... — 0 1 3 Big River — Bliickwater 1 12 0 0 1 6 Central Shotover 0 1 0 Gillespie’s Beach, ex. rights 0 2 0 King Solomon — 0 3 4 Mataki — 0 2 0 Mount Lyell 1 2 11 Okarito 0 9 11 Waihi <1 6 0 1 6 6 Waitahu ....... 0 6 5 *Cutn. dividend. Unofficial List Illi' Buyer 8. Sellers. £ 8 d £ 9 d Hawkes Bay Meat Co., £5 paid — 5 5 0

WELLINGTON. Return on investSale price ment £ s < (1 £ s a laser. Stock, 4 p.c., .osa 101 lo 0 3 17 6 N.Z. Guarantee Corpn. (2) 0 s 3 3 0 8 11 LI 9 t flnterim dividend passed. AUCKLAND. £ s d £ 8 d laser. Stock', 3} p.c., 101 12 1938-52 c 3 Ditto, 4 p.c., 1955 .. Auckland Gas. 04 p.c., 101 15 0 3 17 6 1935 103 0 0 6 6 2 Baak of N.Z .... 2 7 8 4 14 5 South British Insur3 12 0 3 14 1 Auckland Gas 1 3 6 4 13 7 0 3 4 11 1 nTz. Refrig., 10/- paid 0 9 vj Wilson’s Cement ' 1 7 0 3 14 1 Kildare 0 2 Unofficial list: — 0 Claude Neon Lights • Invest. Exec. Trust, B 6 debentures 98 0 0 9 Peters Ice Cream 0 17 6 • ■ - Sun Newspapers ..... 0 3 11 —• CHRISTCHURCH laser. Stock, 4 p.c., 1955 £ 8 d £ 8 d 101 7 6 3 18 Comm. Bank of Aust. 0 17 0 o 18 10 Comm. Bank of Syd17 15 0 2 10 5 Bank of N.Z. nftto 2 7 7 0 1 4 4 15 15 9 7 Ditto o 7 2 4 15 5 Ditto o 7 4 4 15 1 National Insurance .. 0 18 9 4 0 0 Goldsbrough Mort ... 1 9 11 1 13 i) N.Z, Refrig., 10/- pd. (3) . 0 9 9 — Ditto - 0 9 10 —— Kaiapol Woollen, 17/0 8 0 — Monteith’s Brewery . 0 10 o : 12 ■ 0 15 0 A c 1 8 6 5 12 3 Mount Lyell (2) ...... Alexander Mines, Contr. 1 3 0 » 0 17 3 ——— Bell 9d pd. (2) 0 0 10J — Ditto ■ 0 0 10 — 0 0 2 —■—« New ’Cornish Point, Art nd (4) 0 0 7i Sales reported:— Chch. Trams, 4i p.c., 1/10/1934 Goldsbrough Mort .... NZ. Refrlg.. £1 paid 99 . 1 0 15 10 19 0 0 8 1 13 4 flnterim dividend passed. DUNEDIN. £ s d £ s d 1 10 d 3 16 8 N.zi Refrig.. 10/- pd. 0 9 11 • — AVaitahu (2) 0 6 8

Oct. 80. Oct. 28. Par. N. York, dot. to £ 4.784 4.714 4.866 Montreal, dol. to £ 4.8o»j 4.80 4.866 Paris, f r. to £ .... 80 10-32 81 5-32 124.21 Brussels, bel. to £ 22.615 22.765 35.0.1 Geneva, fr, to £.. 16.29 16.40 25.225 Amst’dam, fl. to £ 7.82 7.87 12.107 JVIilau, lire to £ .. 50.875 60.25 92.46 Berlin, mks, to £ St’holm, knr. to £ Irr * r'l 20.43 10.395 19.395 18.159 C’hagen, kur. to £ 22.40 22.40 18.159 Oslo, knr. to £ 19.90 19.90 18.159 Vienna, schgs. to £ 29 29 34.585 Prague, knr. to £ Hel’fors, mks. to £ 106 107 164.25 226.75 226.75 193.23 Madrid, pes. to £ Lisbon, esc. to £ 25.225 106.25 105.25 I 110 Athens, drach. to £ 570 570 '375 Belgrade, din. to £ 226.75 — 276.31 Bucharest, lei to £ 035 537.50 813.60 Warsaw, zloty to £ —- 13.38 Kio de J., p. to mil. t4 3-8 f4 3-8 5.899 IS. Aires, p. to peso f44 ■f43J 47.62 M. Video, p, to peso *36 ’36 51 Calcutta, p. to rup. IS 18 18 Shanghai, p. to dol. 15 3-8 15 3-8 — II.-Kong, p. to dol. 171-8 17 1-16 — Y’hama, p, to yen 14J .14 15-32 24.582 Batavia, fl. to £.. 7.80 7.85 12.107 •Nominal. fOfflcial.

Per ton. Per ton. Copper— Standard, spot ... £ 8 32 18 d 8 £ s 33 4 d 7| Standard, forward 33 1 10 J 33 8 1'H •Electrolytic 37 0 0 36 10 0 to 37 10 0 37 10 0 Wire bars ...... Lead— 37 10 0 37 10 0 Forward 11 IS fl 11 17 0 Spot 12 1 3 12 0 0 Spelter— 16 0 0 16 2 6 10 3 10 5 Tin— 224 11 3 225 6 224 8 9 o*>.“ 5 0 Silver— Standard, per oz. . 16 1-lGd ISld Fine Iflld 10 ll-16d

Year ended Sept. 30. 19.31. 1932. 1933. Liabilities— £ £ £ Capital paid .. 294,240 294,240 294,240 Reserve 20,500 20.500 8,325 Due to bank .. 43,851 53,424 48,911 Creditors 63,782 57,421 44,948 Assets— Property a/c .. 61,456 61,530 61,972 Debtors 357.646 350,382 319,559 Bills receivable 920 501 —- Goods and merchandlse 8.289 9.852 11,999 Plant account . 2,592 2,129 2,153 Shares 5,303 5,256 ,740