FINANCE and COMMERCE

Dominion, Volume 27, Issue 35, 4 November 1933, Page 10

FINANCE and COMMERCE

STOCKS AND SHARES Wellington Market Steady LITTLE MOVEMENT IN PRICES A featureless market yesterday produced little or no change on the. Wellington Stock Exchange, prices moving within very narrow limits. The market generally had a steady tone, but trading was of small volume. . Government loans and local body debentures were firm at late rates. Ike SA per cent, inscribed- stock had a sale very quiet, with no recorded business. New Zealands were od up at 47/7, sellers coming in at 47/11.. Commercial of Australia eased a point to 16/10. E.S. and A.’s were 2/- down at £5/10/-. and National of .New Zealand were 3d off at 82/6. In the pastoral and financial section, Dalgetys were 2/6 lower at £9/l</6. Goldsbrough Morts were steady at 2J/S. National Mortgage A’s were 6d. up at 53/6, the B’s being unchanged at 00/-. Insurance shares were slightly firmer. Breweries showed little change, New Zealands selling firmly at 37/9. Miscellaneous shares were steady, and mining "hares were rather more'active. WELLINGTON EXCHANGE Latest Quotations The latest buying and _ selling quotaions on the Wellington Stock Kxchan o e •esterday were as follow; —

POULTRY MARKET Wellington Prices Current Prices of live poultry ruling in the Wellington market this week are quoted by Townsend and Paul, Ltd., as follow: Fowls: White. Leghorns, hens, 2/3 to 2/9 each; cockerels, 2/- to 2/9; pullets, 3/6 to 4/-. Blaek Orpingtons: Hens (heavy), 4/- to 4/6 each; hens (medium), 2/6 to 3/3; cockerels (heavy), 3/6 to 4/6 each; cockerels (medium), 2/- to 2/6. Ducks: Indian Runner (young). 3/to 4/- each; (old). 2/- to 2/6. White, (heavy), 4/- to 4/6. Geese: 4/- to 5/- each. Turkoy&j 9d to IQd Jh.

THE MONEY MARKET Bank of England Return NOTE CIRCULATION HIGHER By Telegraph.—Press Assn. —Copyright. London, November 2. The Bank of England return for the week ended November 1 is as follows: — Issue Department.

Short Loans und Bills. The Bank of England rate of discount was reduced to 2 per cent, as from June 30. 1932. Short loans are quoted at i per cent., the same as last week. The market rate of discount for best three months’ bills is 15-16 per cent., compared with 7-8 percent, last week. FOREIGN EXCHANGES Position of Sterling (British Official Wireless.) Kugby, November 2. The following rates on foreign exchanges were current to-day, compared with those ruling on November 1:—

•Nominal. iOfficial. Gold and Silver. London, November 2. Gold.—£6/13/9 per line ounce. Silver.—Cash, 18 9-16 d per ounce; forward, 18 5-Sd. Government Stocks By Telegraph.—Press Assn.—Copyright. London, November 2. Quotations of Government stocks on tfce London Stock Exchange compare with those of a week ago as follow:—

DEALINGS ON ’CHANGE Yesterday’s Sales The following sales were recorded yesterday on the stock exchanges mentioned :—

ADVANCING PRICES Bradford Tops Market Firm BUSINESS ACTIVE By Telegraph.—Press Assn. —Copyright. London, November 2. The Bradford tops market is firmer, and considerable business is being done. To-day’s quotations, compared with those previously cabled, are as follow: —

Wright, Stephenson and Co., Ltd., and Abraham and Williams have received the following cabled advice from their Bradford agents regarding the tops market:— Merino tops are H up, while crossbred tops are hardening. Topmakers are _ inclined to be independent and concessions are difficult to obtain. A good deal of business is passing in merino and fine crossbred tops., Consumption is well maintained. KEEN SALES AT MELBOURNE Hardening Tendency By Telegraph.—Press Assn.—Copyright. Melbourne, November 3. The wool sales showed a further hardening tendency in prices. Competition was exceptionally keen. The comeback and crossbred section offerings were practically all taken by Japan at prices equal to the highest point of the season. Approximately 96 per cent, of the 8228 bales offered was sold. The best price of the day was 23d. per lb. for merino. Sydney Wool Averages By Telegraph.—Press Assn.—Copyright. Sydney, November 3. Wool prices current at this week’s sales were Greasy extra super merino fleece, 27:1d. per lb., best, 22d. to 23d.; good, 19d. to 21d.; average, 16d. to 18d. Greasy merino, light in seed or burr, best, 19(1. to 20(1.; good, 17d. to 18(1.; average, 156. to 16d. Greasy merino, burry, best, 16d. to 16Jd.; average, 14d. to 16d.; inferior, 12d. to 13d. Broken and pieces, best up to 20d. per lb., good 16Id. to 17id., average 14 }d. to 15|d. Lambs, best up to 183 d., good lid. to 12d., average Bd. to 9d. Comebacks, best made 19Jd., good 16d. to 19d., average 14d. to 15d. Crossbreds, best to 203 d., fine 14d. to 17d., medium lOd. to lid., coarse sd. to 6d. KAURI TIMBER CO., LTD. Dividend, 2 Per Cent. The Kauri Timber Company, Limited, yesterday advised the Slock Exchange Association that, subject to audit, the directors have decided to recommend a dividend for the year ended August 31, 1933, at the rate of 2 per cent, per annum. No dividend was paid by this company in 1931 and 1932. In 1930, 23 per cent, was paid, compared with 3 per cent, in 1928 and 1929, 6 per cent, in 1927, and 8 per cent, for the preceding seven years, NORTH BROKEN HILL Dividend and Bonus North Broken Hill, Limited, yesterday advised the Stock Eocehange Association by cable that the directors had declared a dividend of one shilling per share, together with a bonus of sixpence per share, payable at Melbourne on December 12. Transfer books will close on November 11. This company paid a dividend of 1/per share on September 29 last. DIVIDEND, 10 PER CENT. “Herald” & “Weekly Times,” Ld. By Telegraph.—Press Assn.—copyright. (Received November 3, 9.50 p.m.) Melbourne, November 3. The Herald and Weekly Times Limited profit for the year ended September 30, including investments, totalled £149,653, which is £l2,2s3”better than for the previous year. The dividends recommended are 6} per cent, for preference stocks and 10 per cent, on ordinary shares. Kelbume Tram. Debentures Kelburne and Karori Tramways, Ltd., first mortgage debentures have been listed on the Wellington Stock Exchange. The series is 150 £lOO first mortgage debentures bearing interest at the rate of 5 per cent, per annum. Interest is payable half-yearly in Wellington in New Zealand currency on April 30 and October 31. The debentures are repayable in 10 years, on October 1, 1943, with the right reserved to the company of earlier redemption. Stock Exchange Association The annual general meeting of the Stock Exchange Association of New Zealand was held at Wellington on Wednesday. The following delegates from the seven affiliated stock exchanges were present: Mr. George C. Creagh and Mr. J. W. Prater, chairman and vice-chairman of the Auckland Stock Exchange; Mr. E. Bucholz and Mr. T. R. Lawson, chairman and vice-chairman of the Wellington Stock Exchange; Mr. F. E. Graham and Mr. H. Kitson, chairman and vicechairman of the Christchurch Stock Exchange; Mr. Harman Reeves, chairman of the Dunedin Stock Exchange; Mr. Duncan McAllum, honorary secretary of the Taranaki Stock Exchange; and Mr. T. 11. Watson, chairman of the Invercargill Stock Exchange. The retiring president was Mr. Creagh, who has held the position on four successive occasions since the association was first formed in 1915. For the ensuing year Mr. Bucholz was elected president and Mr. Graham, who lias acted as the chairman of the Christchurch Stock Exchange for the past 23 years, was elected vice-president. A considerable amount of business was transacted, among which wrts the revision of brokerage rates. Goldfields Dredging Co. By Telegraph. — Press Association Dunedin, November 3. The secretary of the Goldfields Dredging Co., Limited, reports that, the return for the week ended November 3 was soz. for 125 hours’ dredging through old tailings. AUCTION DIARY TO-DAY. 13 Dee St., Island Bay, 1 p.m.—Furniture (Lambton Auction Rooms). 23 Martin Square, 1.30 p.m.—Furniture (C. W. Price). MONDAY. Spring Cattle Fair. Masterton. 12 noon. Johnsonville store stock and dairy sale, 1 p.m. (W.. S.. and Co.) Shannon Sale (A. & W. Ltd.). 76 Ghuznee St., 1 p.m.—Furniture (Lambton Auction Rooms). TUESDAY. Levin Saleyarda, 11 a.m.—Otaki Freehold property (A, & W. Ltd.),

DAIRY PRODUCE Butter Market Quiet CHEESE PRICES STEADIER By Telegraph.—Press Assn.—Copyright. London, November 2. The Danish butter market is firm at 118/- to 120/- per cwt. Others are steadier at a lower level. Choicest salted New Zealand is graded 88/- to 90/per cwt, Australian 86/- to 87/-. Unsalted butter is not quoted. The cheese market is steady. New Zealand coloured, 48/- per cwt.; white, 49/-. Australian, both white and coloured, 46/-. Joseph Nathan and Co., Ltd., have received from their principals, Trcngrouse and Nathan Ltd., London, the following cabled ad-vice, dated November 2:—.New Zealand butter: 'Finest, 87/- per cwt; first, 82/-. Cabled advice received by Mr. G. A. Mills from A. J. Mills and Co., Ltd., gives the following market prices as ruling at the close of business on Thursday:—Butter: The market is quiet. New Zealand, finest, 88/- to 90/-; firsts, 82/to 83/-, Danish, 115/- to 116/-, Danish f.0.b., 96/-. Australian, 82/- to 86/-. Siberian, 74/- to 78/-. Baltic States, 90/- to 92/-. Cheese: The market is steady. New Zealand, white, 48/- _to 49/-; coloured, 48/- to 49/-. Canadian, white, 50/- to 52/-; coloured, 50/- to 52/-. Canadian e.i.f. quotation first half October make, 46/- to 47/-. Samuel Page and Son, London, report to Dalgety and Co., Ltd., under date November 2: —Butter: Market steadier. Danish, 116/- to 118/- Cll6/- to 118/-). New Zealand finest salted, 83/- to 88/(90/- to 97/-). Australian finest unsalted, 102/- to 106/- (100/- to 106/-) ; finest salted. 80/- to 87/- (90/- to 95/-). Australian G.AJJ., 76/- to 78/- (89/- to 91/-). Cheese: Market steadier: New Zealand white, 48/- to 49/- (48/-); New Zealand coloured, 47/- to 48/- (46/- to 47/-). Spot price for Canadian white, 50/- to 53/- (51/- to 53/-) ; coloured, 50/- to 53/- (51/- to 53/-). It is reported that large quantities of butter were sold this week at 82/- and cheese at 45/-. Lust week’s quotations shown in parentheses. A. S. Paterson and Co. advise having received to-day cable advice from J. and J. Lonsdale and Co. (London), Ltd., as follows: —Butter: Market steadier in sympathy with higher prices Danish owing to Germany buying latter. Danish, 119/- landed. New Zealand, finest, 89/-; first grade, 82/-. Australian, finest, 85/-; first grade, 82/-. Cheese: Market, firm. New Zealand, white, 48/-; coloured, 48/-. Canadian, 48/6 e.i.f.

GRAIN AND PRODUCE Canterbury Markets By Telegrapn—Press Association. Christchurch, November 3. The ryegrass market is a little quieter. The export to the United Kingdom continues, but in less volume. Values are unchanged, good being worth 2/6 a bushel on trucks, with best quality to 2/9. The cocksfoot market has firmed up Id lb, Akaroa being worth 6}d for farmers’ dressed, and Plains SJ(I. Some business lias been done locally for spring sowing. Other classes of seeds are unaltered in price, and most of them are firmly held. The potato demand in the North is now being practically nil supplied from local sources, although small consignments of Dakotas are going north to Wellington. There are not many of this variety about,' but there are still a few holders of whites in the country. The fowl wheat market is easier, quotations being 3/7 f.0.b., s.e., Lyttelton. Overseas Markets By Telegraph.—Press Assn.—Copyright. London, November 2. ■ Wheat cargoes are dull but steady. Parcels are in poor demand, with prices unchanged to 13d up. Manitoba lots are 3d to 6d up. Futures: London, December, 19/10 per quarter; February, £1 O/l; April, £l/0/7. Liverpool, December, 4/7:’ per cental; March, 4/103; May, 5/-. The spot trade is slow. Australion, ex ehip, 23/- to 24/- per quarter. Flour is quiet. Australian, ex store, 17/9 to 18/-. Oats are occasionally 3d to 6d lower. Peas and beans are slow. Melbourne, November 3. Wheat, 2/8 per bushel. Flour, £7 10/- per ton. Bran, £4/10/-. Pollard, £5. Oats, 2/2 to 2/3 per bushel. Barley, English, 2/6. Maize, 4/- to 4/3. Onions, Spanish, quiet and steady, £1 5/- to £l/10/-; silverekius, easier, £4 10/-, occasionally £5. FROZEN MEAT TRADE Prices Nominally Unchanged M. A. Eliott, Ltd., Palmerston North, have received the following cabled advice from Gordon, Wobdrotfe and Co., Ltd., London, dated Thursday:—Lamb, wethers, and ewes, prices nominally unchanged. Beef, spot market prices have declined l-Sd. Smithfield “delivered” prices are quoted as follow: —Best North Island prime lambs: Under 361 b„ 7 5-Sd.; 3611). to 421 b„ 73(1.; 421 b. to 501 b., 6 3-8(1. Ordinary North Island lambs: Under 421 b., 7}d ; second quality, under 421 b., 7(1. Best North Island wethers and/or maiden ewes: 481 b. to 561 b., 4 5-8(1.; 561 b. to 641 b., 4 5-8(1.; 641 b. to 721 b., 4d.; over 7211>., 4d. Ordinary North Island wethers and/or maiden ewes: 481 b. to 561 b., .4Jd.; 561 b. to 641 b„ 43d.; 641” b. to 721 b„ 3 7-8(1.; over 721 b., 3 7-Bd. North Island ewes: Under 641 b., 33d.; 641 b. to 721 b., 3 1-8(1.; over 721 b., 3 1-8(1. New Zealand prime ox beef (equal fores and hinds) : 1601 b. to 2201 b., 2 7-Bd. SYDNEY STOCK EXCHANGE Consols in Firm Request By Telegraph.—Press Assn. —Copyright. (Received November 3, 9.50 p.m.) Sydney, November 3. Ou the Sydney Stock Exchange Australian Consols were in firm request at enhanced rates, but the market otherwise was sluggish, showing little change. Sales: Bank of New South Wales, £33 15/1; Union Bank, £lO/10/-; Colonial Sugar, £62/2/6; Associated News, 20/9; ditto, pref., 20/9; Burns Philp, 55/-; Australian Gas, A, £7/6/6; Berlei, 29/(1; ditto, contributing, 14/6; Australian Glass, 52/-; Dunlop I’erdriau, 18/9; Goldsbrough Mort, 30/- ; Tooths, 43/6 : David Jones, 35/9; Farmers, 17/6; Henry Jones, New Zealand delivery, 36/-; Goodlet and Smith, 18/6; Lustre Hosiery, 17/10}; Automatic Totes, 18/3; Anthony Hordern, 12/9; Hume Pipe, 13/7-}; Milluquin Sugar, 28/6; Electrolytic Zinc, 26/6; Nestles, prel’., 33/6; Bulolo Gold. £5/4/-; Broken Hill Proprietary, 41/-. Commonwealth Bonds, 4 per cent., 1938, £lO4/17/6; 1941, £lO5 10/-; 1944, £lO4/15/-; 1947, £lO5/7/6; 1953, £lO6/10/-; 1955, £lO6/10/-; 1957, £lO6/12/6; 1959, £lO5/10/-; 1961, £lO6. Morning sales included: Commonwealth Bonds, 4 per cent., 1941, £lO5 10/-; 1944 £lO4/15/-; 1953, £lO6/5/-; 1955, £lO6/10/-; 1959. £lO5/7/6; 1961, £lO5/17/6; Bank of New South Wales, £33/17/6; Australian Gas, A, £7/6/6; Associated News, 20/9; Australian Glass, 52/-; Broken Hill Proprietary. 41/-; Burns Philp, 55/-; Colonial Sugar, £62 2/6; Dunlop Perdriau, pt'ef.7 34/6; Goldsbrough Mort, 30/I}. Melbourne, November 3. Stiles: Electrolytic Zinc, pref, 34/-; Herald and Weekly Times, 46/6; North Broken Hill. 87/-; Commercial Bank of Australia, prof., £B/19/-w

IN KEEN DEMAND Wellington Sheepskins Firm STEADY PRICES FOR HIDES It the fortnightly sales of sheepskins, hides, and tallow, held yesterday by the Wellington brokers, competition lot sheepskins was keen especially <>Y°!hie pelted lines, which showed considerable firmness with a hardening tendency, prices being id to 1(1. better. Ox hides were in good demand at prices about equal to last sale. Cow hides were slightly weaker, showing a decline of a artag P« 11>. Yearling and call realised puces about on a par with last sale. The range of prices was as follows. Dry sheepskins: Halfbred, bid--94d • fine crossbred, 7-id. to 9(1.; medium crossbred, CM. to Bd.'; coarse crossbred, 3-ld, to 64(1.; half-wools, did. to bo. > quarter-wools, 3d. to 51d.; pelts, lid. to Salted skins: Pelts. 6d. to 1A: three-quarter-wools, 4/-; full-wools, o/-Jl Hides: Ox, 331 b to 441 b., 3 3-8 d to 51d ’ ox, 451 b. to 521 b., 5Jd. to 6 l-Bd., ox. 531 b. to 591 b., 41(1 to 6 1-8(1.;„ ox, 601 b. to 691 b.. GM. to 6 i-Sd.; ox 1 01 b, and over, (id. to 6 7-Bd.; cow, 3Mb to 391 b 3 l-Brl. to 51d.; cow, 401 b. to 481 b., 34d."t0 51d.; cow. 491 b. and over 2}(l. to' 5 l-Bd.; kip. 251 b. to 321 b., 4 3-8(1. to 5 7-8(1.; kip, 171 b. to 241 b., Id, to bid.; yearling, 111 b. to 161 b., 2d. to 7d.; cajf, 91b. to 101 b.. 2d. to 73d.; calf, 61b. to Sib., 74(1, to 9 7-Bd.; calf. 11b. to 51b., 4 5-8(1. to 8 7-Bcl. . Tallow: In casks, etc.. 13/- to 17/-1 in tins, 8/- to 12/-. Sundries: Horse-hair, 1240. Auckland Sale Prices Late rates were realised in most sections of the market at the fortnightly sale of hides and sheepskins held by Auckland brokers this week. There. was a slight easing in prices for cow hides, but there was a firming tendency in the market for dried sheepskins. Prices for best grades were: — Ox, heavy, SJ(I. to 6 1-^d.; medium, 54(1. to lid.; light. 54(1. to 5Sd. Cow, heavy, sd. to s{d.; medium and light., d. to 53d. Yearling, heavy, 6d. to Gid.; light, GJd. to 73d. Calfskins, 61b. to 81b.. 83(1. to 9d.; 31b. to 51b., Bd. to 83(1. Dried sheepskins: Three-quarter to full-wool, coarse crossbred, s}d. to GJd.; damaged and faulty, 4(1. to 4}d.; halfwools, coarse crossbred. 41d. to 43d.; damaged and faulty, 3d, to 33d.; hoggets, line crossbred, 6}d. to 7d.; damaged and faulty, 4}d. to 53d, Salted sheepskins: Three-quarter to full-wool, large, 5/6 to 6/- each; light to medium, 4/3 to 5/-; half to three-quarter-wool, large, 4/S to 5/-; light to medium, 2/6 to 3/3; hoggets, medium to large, 3/9 to 4/4; light and small, 1/9 to 2/2. LIVE STOCK MARKET Hawera Sale A large entry of station and store cattle, with a few pens of sheep and a medium yarding of dairies, came forward at the Farmers’ Co-operative Organisation Society’s Hawera sale. Another large yarding of pigs came forward, and met an exceptionally good sale, a total clearance being effected at prices somewhat in advance of those recently- ruling. There was a better entry of fat cattle, which met a ready sale, the entire offering being cleared under the hammer. Prices were: Fat bullocks, £5/18/- to £6/5/-; fat. heifers, £3/15/- to £5/2/6; fat cows, £4 to £5. Station cattle : Threeyear Polled Angus steers, good medium, £3/8/- to £3/16/-; forward P.A. cows, £3/5/-; two-year P.A. steers, £3; threeyear Hereford heifers, good, £3/15/-; medium, £3/2/6; two-year P.A. heifers, £3; Jersey bulls, two-year, £4/10/- to £6; yearling, £3/10/- to £5/5/-. Dairies: Springing and calved heifers, £4 to £5 15/-; yearling Jersey heifers, medium, £2/5/- to £2/12/6. Wanganui Sale Prices were firm at late rates at Freeman R. Jackson, Ltd.’s, Wanganui sale on Wednesday. A good entry of prime P.A. cows and heifers, on account of Mr. G. A. Pearce, sold freely, the heifers making to £6/10/-, aud averaging £5/16/-; the cows averaging £5/4/-. Prices were: —Sheep: Fat woolly wethers, 21/- to 23/3; fat shorn wethers, 18/-; fat woolly ewes. 19/- to 20/5; fat shorn ewes, 13/9 to 14/9; fat lambs, 19/- to 22/6; fat b.f. 2-tootbs, 22/- Cattle: Prime P.A. heifers, £5/10/- to £6/10/-; prime P.A. cows, £4/15/- to £5/10/-; prime ex dairycows, £3/5/- to £4/5/-: fat ex dairy cows. £2 to £3; forward ex dairy cows, £l/7/6 to £l/17/6; store cows, 15/- to 25/-; y-earlin.g Jersey heifers, 31/6 to 35/-; 2-year Jersey heifers, £l/15/- to £2/9/-; yearling Jersey bulls, 22/6; twoyear Jersey bulls, £2; jiedigree Jersey yearling bulls, to s}gns.; cows in milk, £l/10/- to £2/15/-. Pigs: Baconers. £2 1.1/- to £2/16/-; heavy porkers, 34/6 to £2: porkers. 28/- to 34/-; forward stores, 24/- to 27/-; stores, 17/- to 21/-; poor stores, 14/- to 16/6: slips. 16/- to 20/-; weaners, 16/- to IS/-; small weaners, 13/- to 15/-. Vealers: Poor runners, 30/- to 38/-. Calves, 14/-. Carterton Sale Dominion Special Service. Masterton, November 3. A good entry of all classes of stock was offered at Carterton to-day by Wright, .Stephenson and Co., Ltd. Fat and forward cows realised little better prices, while springing heifers and cows in milk were on a par with late rates. Best bulls sold well, and pigs met a keen demand, practically a total clearance being effected. Prices were: —Fat cows, £3 to £4/5/-; forward cows, £2/3/- to £2 15/-; store cows, 20/- to 28/-; cull cows, 13/- to 18/-; springing heifers, £3/10/- to £5; backward heifers, £2 to £2/15/-; empty heifers, £2 to £2/17/6; year heifers, 35/- to £2; small, 20/-; year bulls, up to 9}gns.; and 2-year bulls, to 6gns. Weaner pigs, good, 14/- to 16/-; medium, 10/- to 12/6; slips, 17/6 to 21/-; porkers, 26/- to 31/-; baconers, 35/-. Fat ewes, 13/-.

BASE METALS MARKET Little Change in Prices By Telegraph—Press Assn —Copyright (Received November 3, 9.59 p.m.) Loudon, November 2. The official London (middle) quotations for Thursday, ns reported by the Australian Mines and Metals Association, compare as under ■ with those previously

London Stock Markets (British Official Wireless.) Kugby, November 2. Sterling on New York 4.52, Paris 79}. The price of gold fixed at 133/3. One hundred and fifty-five bars of gold of an approximate value of £400,600 were disposed of. There was no indication that any of this gold was bought on American account. Stock markets bold good tone. Gold mining shares advanced. British Government stocks quietly maintained. War Loiuj 3J par cent., £lOO/6/3,

N.Z. GOVT. LOANS. Buyers. Sellers. £ s d £ s d 4 P.C. Bonds, 1940 .... 102 0 0 102 15 0 4 p.c. ditto. 1940 .... 102 0 0 —— 4 p.c. ditto, 1955 .... 101 lo 0 Rural Advance Bond . — — 98 0 0 .24 P.c. Ins. Stk., 1939-43 — 101 5 0 31 p.c. ditto, 1938-43 .. — 101 5 0 34 P-e. ditto. 1938-52 .. _ — _ 102 5 0 4 p.c. ditto, 1940 .... 102 0 0 —— 102 5 0 4 p.c. ditto, 1949 .... 100 10 0 100 17 G $ p.c. ditto, 1955 .... 101 10 0 — DEBENTURES. Auck. City, 54 p.c., 1944 101 0 0 C'hch. City. 54 p.c., 1944 101 0 0 Dunedin City, 5J p.c., — — 1914 101 10 0 —— Wgtn. City, 5} p.c., 1940 101 10 0 AVgtn. Harb. Bd., 5J p.c., 1940 101 10 0 Wgtn. City, 4} p.c., — — 30/6/1943 102 0 0 Wairere E.P. Bd., 6 p.c.. — 1961 — Wanganui H.B., 5} p.c., 102 10 0 1940 90 0 0 Palmerston N., 51 p.c., 101 10 0 1948 96 0 0 Hamilton Boro., 5 p.c., 1947 — Waikato It. Bd., 5 p.c.. 100 10 0 1937 — 92 0 0 Wgtn. Gas Co 101 10 0 —— Wgtn. Racing Club ... 05 10 0 Amid. Brick and Pipe — (Wellington) — 95 0 0 BANKS. Australasia — 12 16 0 Comrcl. of Aust., ord. . 0 16 10 Comrcl. Bankg. Co., Syd0 17 * ney — 18 0 0 Eng., Scot, and Aust. .. 5 10 0 —— National of N.Z 4 2 6 National of Australasia, — £5 paid — *6 15 0 New South Wales — ‘34 5 0 New Zealand *2 7 7 Ditto, "D” long term — 2 7 11 •1 12 0 Union of Aust — 10 G 0 FINANCIAL. .Oalgety and Co *9 17 6 — Equitable Bldg.. £6 pd. — Goldsbrougb, Mort, and 2 15 0 Co 1 9 8 1 10 0 National Mortgage, “A” 2 13 G Ditto, “B” 1 10 0 N.Z. Guarantee Corpn.. —— 1 15 6 ord-, cum. rights .. 0 8 3 Ditto, pref., cum. 0 8 7 • rights 1 0 0 N.Z. Invest., Mort, and — Dep 0 3 8 N.Z. Loan and Merc., — ord. stock — 63 0 0 Wgtn. Invest., T. & A. 0 6 0 Wgtn. Trust. Loan ... 4 5 0 Wgtn. Dep. & Mortgage 0 3 6 — GAS. Christchurch — 1 8 3 Wellington, ord 1 13 7 — INSURANCE. Standard 2 19 0 Aust. Prov. Assce. .... — 0 12 2 (National of N.Z. ...... *0 IS 9 «—• INew Zealand 2 14 8 — South British 3 12 3 3 12 9 MEAT. Sear Meat, cum. rights 1 12 0 112 6 N.Z. Refrig.. £1 paid .. 10 3 1 0 9 Ditto, 10/- paid ... 0 9 10 0 10 0 TRANSPORT. Huddart. Parker, ord. . — 1 12 0 (Union Steam, pref 14 0 1 5 6 *P. and O. defd. stock .14 0 — 1 COAL. Pukemiro 0 18 6 Taupirl 0 14 0 TIMBER. Kauri — •0 16 0 National 0 6 0 0 7 6 'Taringamutu Totara .. 0 2 3 BREWERIES. Carlton 2 3 G — N.Z. Breweries 1 17 7 1 IS 0 Tooth and Co 2 2 0 — MISCELLANEOUS. British Tobacco, Aust. — 1 18 3 Colonial Sugar 61 0 0 62 0 0 Dominion Investments 13 0 Douaghy’s R'ope& Twine 42 2 6 D.I.C., ord 40 12 9 Ditto, pref 41 0 3 Dunlop Perdrlau .... 0 18 8 0 19 0 Electrolytic Zinc, ord. . 1 G’ 0 1 G 7 Ditto. 8 p.c. pt. pref. — 1 14 9 Henry Jones Co-op. .. — *1 IB 6 National Electric — 0 6 9 N.Z. Drug 3 9 6 Prestige (N.Z.), Ltd., pref — 1 1 9 Sharland and Co., pref. *1 2 6 Wilsons Cement 1 6 6 1 7 6 Woolworths (N.Z.), pref. — Ditto, Sydney, 7 p.c.. 1 15 6 pref — 1 6 6 OIL. Moturoa, ord 0 2 3 Ditto, pref — 0 5 0 MINING. Alexander 0 16 9 Ditto, fully paid ... 0 18 3 Bell Hooper o 0 104 Bell Kllgour 0 1 24 0 1 0 0 1 4 Big River — 0 1 4 Central Shotovcr — Gillespie’s Beach, ex. 0 1 rights 0 2 2 0 2 4 King Solomon 0 3 0 0 3 4 MatakI _ 0 2 1 Mount Lyell 1 2 10 1 3 Nokomal 0 2 9 Okarito 0 9 11 Walhi i 3 o 1 6 1 Waitahu 0 6 4 Kildare 0 2 2 Nevis Diesel Electric . — 0 1 o •Cum dividend. |Ex dividend. Unofficial List ■' 1 Buyers. Sellers. £ s d Wellington Publishing £ s d Co 4 2 6 4 15 0 Claude Neon Lights .. — o TVoolworths (N.Z.), ord. 4 10 0 Viking Breweries .... — 0 15 0

£ 11,0f5,100 Notes issued: Govt, debt In circaOther Govt. lation 372,197,364 securities 242,039,391 In banking Other 2,806,396 dept. 78,2-19,067 securities Silver coin 3,639,113 £260,000,000 Gold coin & bullion 190,447,031 £450,447,031 £450,447,031 ♦Amount o£ 1 fiduciary issue. Bunking Department. £ £ Capital 14,353,000 Rest 3,154,61a Govt. securities 77,020,005 Deposits: Public . 7,541,285 Di sets., advances 8,647,880 Bankers 110,643,752 Other Other a/cs 43,706,783 securities Notes 14,371,251 78,249,667 etc., bills 028 Gold and silver coin 1,310,660 £179,600,363 £179,600,363 Pronortion of reserve to liabilities. 49.10 ner cent., compared with 49.70 per cent. principal items of the above return compare as follow with those of the previous week: — Nov. 1. Oct. 25. Deposits: Public £ 15,905,007 £ 7.541,285 110.643.752 Bankers 104,146.161 Other accounts . 45,774,828 43,706,783 £165,825,006 £161,891,820 Securities: Government .... 77.985,905 77,020,905 Discts., advances 8,501,030 8,647,880 Other securities 14,500,917 14,371,251 82,528,535 79,560,327 Note circulation .. i 369,258,310 372,197,364 Gold coin & bullion UK),447,029 190,447,031

Nov. 2. Nov. 1. Par. N. York, dol. to £ ■1.83 4.795 4.866 Montreal, dol. to £ 4.841 4.851 4.866 Paris, fr. to £ .. 70 13-32 79 27-32 124.21 Brussels, bel. to £ 22.275 22.405 35.00_ 1(5,14 10.12 Amst’dam. fl. to £ 7.705 7.75 12A07 Berlin, inks, to £ 13.015 13.125 20.43 Milan, lire to £ .. 50 59.375 92.46 St'holm, knr. to £ 19.405 19.395 18.159 C’hagen, knr. to £ 22.40 22.40 18.159 Oslo, knr. to £ 19.90 19.90 18.150 Vienna, schgs. to £ 29 29 34.585 Prague, khr. to £ 104.625 105.25 164.25 Hel’fors, inks, to £ 226.50 220.75 193.23 Madrid, pes. to £ 37.125 37.37*5 25.225 Lisbon, esc. to £ 103 191.50 110 Athens, drach. to £ 560 570 375 Belgrade, din. to £ 231 £.* ►—' 270.31 Bucharest, lei to £ 530 532.50 813.60 Warsaw, zloty to £ 28 — •13.38 Rio de J., n. to mil. 14 3-8 44 3-8 5.899 B. Aires, P. to peso 144} j44i 47.62 M. Video, p. to peso •37 •36 51 Calcutta, p. to rup. 18 18 18 Shanghai, p, to dol. 15 5-8 15 9-10 —— H.-Hong, p. to dol. 171 171-8 — Y’hama, p. to yen 14 7-16 14} 24.582 Batavia, fl. to £.. 7.69 — 12.107

Trice. Variation. £ s d £ s d Consols, 24 p.c 73 15 0 same Fund. Loan, 4, 1960-90 War Loan, Si, after 111 15 0 0 15 ot 1952 100 7 (5 0 5 or Conv. Loan, Sj p.c. .. 100 12 6 0 2 6t Victory Bonds, 4 p.c. 110 10 0 0 10 ot C’wealth., 5, 1945-75 .. 110 .8 9 0 1 3* C’wealth., 6. 1931-41 .. 101 8 9 0 1 3t C’wealth., 3}. 1937 101 5 0 0 1 3“ Victoria, 3, 1929-49 .. Victoria, 3J, 1929-49 .. 93 0 0 0 10 Ot 98 11 £> 0 1 3* Victoria, 5J, 1930-40 .. 101 12 (! 0 5 ot Victoria, 5. 1932-42 .. 101 7 6 0 3 9* Victoria, 4j, 1940-60 .. 105 0 0 0 15 O' N.S.W., 3, 1935 100 12 6 0 1 3* N.S.W.. 31, 1930-50 .. 98 12 i; same Q’iand., 5, 1940-60 ... 107 7 6 0 2 6* Q’iand., 3. 1922-47 .... 93 7 6 0 2 6* N.Z., 4J, 1948-58 108 0 0 0 2 j N.Z., 34, 1940 101 7 6 0 3 9f N.Z., 3, 1945 95 12 0 0 12 lit N.Z., 6, 1936-51 107 11. 3 0 1 3? S. Aust., 34. 1939 .... S. Aust., 3, 1916 or 101 0 0 5 Ot after 79 18 9 0 2 Gt Tasm., 31, 1920-40 .. 101 3 9 0 3 9t Tasm., 3, 1920-40 .... W. Aust., 3A, 1920-35 . 98 0 0 same 100 17 6 0 2 Gt W. Aust.. 3, 1915-35 .. , fHigher. .100 10 0 ♦Lower. same

WELLINGTON. £ s d Inscr. Stock, 3i p.c., 1939-52 .... 102 0 Wellington Gas 1 14 0 N.Z. Refrigerating, £1 pd. (2) .. *1 0 Ditto 1 0 7 N.Z. Breweries (2) Unofficial list: 1 17 9 Perpetual Forests o 7 0 ‘Bate sale Thursday. AUCKLAND. £ s d Wright, Stephenson, 5 p.c., perpetual stock 84 0 0 Comm. Bank of Aust., pref 8 10 0 Eng., Scot., and Aust. Bank .... a 12 6 Bank of New Zealand 4 8 0 Goldsbrough, Mort N.Z. Insurance 1 ') 11 15 0 South British Insurance 3 12 0 Kaianoi Woollen 0 7 9 Wellington Woollen ci 7 it N.Z. Breweries 1 18 0 N.Z. Fertiliser 0 16 4 J King Solomon 0 3 3 Waihi • 1 o 4 Pawang Tin 6 6 10 UnoiBcinl— Investment Ex. Trust, B 98 0 0 N.Z. Perpetual Forests 2 7 0 CHRISTCHURCH. £ s d Comm. Bank of Aust. ..... 0 17 0 Comm. Bank of Sydney (2) .... 17 12 6 N.Z. Breweries (7) 1 17 9 Anthony Hordern, ord 0 12 9 Dunlop Rubber 0 IS 8 Henry Jones, cum div. (2) .... 1 15 0 Aotoaroa 0 0 11* Bell Hooper, 9d paid 0 0 11 Ditto 0 0 11| Big River 0 1 3 Ditto 0 1 z King Solomon 0 3 Nokomai (2) 0 .. 10 Sales reported—• Bank of New Zealand ........... 2 7 9 Ditto 7 10 Goldsibrougli, Mort .... 1 9 9 N.Z. Breweries (2) 1 17 8 Dnnedtn Brewery 1 4 3 N.Z. Newspapers 1 8 0 DUNEDIN. £. s d Big .Riwu; W), Q 1 3

70’s .. Oct. 12 Per lb <1. .... 35 Oct. 19 Oct. 26 Nov. 2 Per lb Per lb Per lb <1. 35 <1. 35 d. 35 .. - • 33 33; 1 331 34 60's .. .... 3U 31 i i 31J 32 56’s .. .... 22i 221 > 23 23.1 50's .. .... 15i 15.' 1 15} 16| 46’s .. .... 11J Ill i 11| 12 40’s .. .... 104 101 1 10| 10 J

cabled Nov. 1. Per ton. Nov. 2. Per ton. Copper — C s d s d Standard, spot ... 32 1+ 4J' 32 11) 71 Standard, forward 32 1G 10$ 32 13 14 ♦Electrolytic 3G 0 0 36 0 9 to 37 0 0 37 0 0 Wire bars 37 0 0 37 0 0 Lead — Forward 11 13 9 11 10 I) Spot 12 1 3 11 17 0 Spelter— Spot 15 11 3 15 11 3 Forward 15 18 It 15 IS I) Tin— 221 10 0 2"’4 Ki 3 Forward 224 5 0 224 S 0 Silver — Standard, per or,. IS 5-lGd 18 9-lGd Fine 19'fd 19dr t-A in erica n, not quoted. ♦American, 8 cents a lb.