FINANCE AND COMMERCE

Dominion, Volume 27, Issue 38, 8 November 1933, Page 12

FINANCE AND COMMERCE

STOCKS AND SHARES Steady Demand Yesterday PRICES MOSTLY FIRM \’n phan'>-e of any note was seen yesin ?he Wellington stock and share market, which was fi*m on a steady demand The recorded busmess ran to 11 ' sales at late rates or better. Government loans were quietly film_ and there was a stronger tone in local body "feature of the banks section was the firmness of New Zealands, winch aclvanced to sales at 48/-. late buyers stayin" in at that price. Buyers offered £33 15/- for New South Wales,- but sellers held for £34/7/6. National of New Zealand were unchanged at b-/b. Pastoral and financial shares showed little change. National Mortgage As advanced another 6d to 54/6. yas and insurance were quiet. Wellington Gas , sold firmly at 34/- and Standard Insur- ’ ance'had a deal at 60/3. In the shipping section Hiiddart Parker ordinaries sold firmlv at 31/3, more being wanted at 30/9. y . I’- and 0. deferred strengthened to ßreweries were firmer, Carltons at 44/-, New Zealands at 37/-, and booths at 40/3 Miscellaneous shares were quiet, but steady. Mining shares continued dull. M'aihis had two sales at 20/«. WELLINGTON EXCHANGE . Latest Quotations mi,a latest buving and selling quotaions® on the Wellington Stock Exchange yesterday were as follow.

Unofficial List • Buyers. Sellers. £sd £ s d Claude Neon Lights .. —2 ’2 0 Woolworths (N.Z.), ord. 4 0 0 — London Stock Exchange (British Official Wireless.) Rugby, November 0. The stock markets to-day were quiet but the tone was steady. Home rails and industrials were firm. Mines were quiet and irregular. Transatlantics were easier, but above New York parity. French 4 per cents, were slightly improved at £24. German Dawes and Young loans were quoted at £75 and £55 respectively. British funds were steady, with War Loan 34 per cent, at £lOO/12/0. 'The markets closed somewhat weak. Kaffirs declined sharply. Internationals were weak on American advices. . Industrials were easy. British funds were lower, with War Loan 3 J per cent, at ~ £lOO/7/0.

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 at 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. lhe 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 imthe meantime. WELLINGTON.

SYDNEY STOCK EXCHANGE Gilt-edgeds Firmer By Telegraph.—Press Assn.—Copyright. (Received November 7, 9.50 p.ra.) Sydney, November 7. On the Sydney Stock Exchange to-day investors’ attention .was diverted to the Melbourne Cup, business being slack, but there was a definite trend toward higher prices in gilt-edgeds as a result of the announcement of the new Commonwealth loan of £10,000,000. Another feature of the market was tho appearance of sellers of Australian Glass shares at the reduced figure of 51/without attracting bnyers. There is a suggestion that the Government is about to remove the prohibition on imported glass, which is affecting the shares. Sales: Commercial Bank of Sydney, £l7/13/-; Commercial Bank of Australia. 17/3; National Bank of Australasia, £lO paid, £l3/12/-; Australian Provincial Assurance, 12/-. Colonial Sugar, £6l/15/-; Associated News, 20/9; ditto, pref.. 20/9; Adelaide Steam, 25’/6; Howard Smith, 13/-; Burns Philp, 55/-: British Tobacco, 37/6; Tooheys, 24/6; Dunlop Perdriau, 18/9. Goldsbrough Mort. 30/-; Millaquin Sugar, 28/-; Commonwealth Wool, 18/3; United Provisions, 8/3; Farmers, 17/4} ; Anthony Hordern, 13/-. Broken Hill Proprietary. 41/-; North Broken Hill, 88/6; Bulolo Gold, £5/7/-; Bulolo Deposits. 1/11; Kuala Kampar, 12/8; Mount Morgan, 53/9. Morning sales included: Commonwealth Bonds, 4 per cent., 1938, £105; 1941, £lO5/11/3; 1944. £lO4/13/9; 1950. £lO5/12/6; 1955. £lO6/10/-. Commercial Bank of Sydney, £l7/13/-; Dunlop Perdriau, 18/9: Electrolytic Zinc, 27/-. Melbourne, November 7. The Stock Exchange was closed to-day for the Melbourne Cup holiday. FOREIGN EXCHANGES Position of Sterling ‘ ■ (British Official Wireless.) Eugby, November 6. The following rates on foreign exchanges were current to-day, compared with those ruling on November 4:—

London, November 6. Gold.—£6/11/10 per line ounce. Silver.—Cash, per ounce; forward 18 5-Bd. f \ New York, November 6. For the first time since the United Kingdom suspended the gold standard the Canadian dollar reached parity with tlm United States dollar on the foreign exchange markets on Monday. (British Official Wireless.) Rugby, November 6. For the first time since 1014 the English pound was to-day worth more than twenty shillings on New York. The quotation for the dollar is 4.86 2-3 to the £. That figure was exceeded soon after the foreign market opened to-day. Dollar Conversion Rates The Associated Banks have agreed that the conversion rates from November 4 will be:— U.S.A. Canada. Conversion of dollar bills received for collection and sale of dollar drafts 4.74 4.75 Purchase of dollar bills . 4.94 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 bp charged or allowed as the case may require.

N.Z. WOOL SALES Regulation of Offerings MAXIMUM QUANTITIES FIXED The New Zealand Wool Committee, comprising representatives of the producers, woolbrokers, and woolbuyers, held a meeting yesterday for the purpose of exercising its functions in regulating the offerings of wool at the various sales to be held throughout the Dominion during the coming season. The maximum aggregate quantities of woo] which may be offered at the sales were fixed as follow. the actual offerings at the corresponding,sales of,last season being shown in parentheses:— * .

INDUSTRIAL ASSURANCE Huge Volume in Britain The continued expansion of the huge volume of industrial assurance in Great Britain, notwithstanding trade depression, and abnormal unemployment, is revealed in the report of the,lndustrial Assurance 'Commissioner, which shows that at the end of 1931 the total number of assurances in force was 63,946,191, and the aggregate sum assured £1,035,205,047. These figures represented increases of 1,916,087 and £28,822,544 respectively on the relative figures for 1930. In addition, there were 18,782.953 industrial assurances in force with societies at the end of 1931, and the total sum assured at the end of 1930, the latest date available, was £245,3(12,972. The total income for the year in respect of industrial assurance business of companies and societies amounted to £70,700,000, of which £56,100,000 was premium income and the remaining £14,600,000. mainly interest on investments. The sum of £28,300,000 was disbursed in (claims and surrenders, £18.800,000 in management expenses, and £11,400,000 in dividends to shareholders and miscellaneous expenditure. The remaining £l2,'200,000 was added to Assurance funds. The number of new assurances effected during 1931 was 10,800,000, or 160,000 more than in 1930. The report states that during, the year the companies made exceptional provision for depreciation of investments by addition to reserves, and the amounts set aside for this purpose exceeded £7,000,000, or £5,500,000 more than was reserved in 1930. THE “SMALL” INVESTOR British National Savings The annual report of the British National Savings Committee for the year ended March 31, 1933, has just'been issued. It states that there was an increase during the year of 1121 savings associations, bringing the total to 33,318. The figures fob 1933 compare as under with those of the preceding year:—

The grand total of certificates issued from their introduction in 1916 to March 31 last was 1,193,713,984, of a cash value of £940,580,936. The amount of principal remaining invested on March 31 last was £383,655,450, while including interest the estimated amount due at that date to holders of certificates was £474,000,0fif), this being a decline on the year of £3,000,000. “The suspension of sales prior to the introduction of the fourth issue certificates (coincident with the War Loan Conversion Scheme) had an appreciable effect on the total sales for the. year. The fourth issue certificate rapidly .commended itself to investors, and the weekly average of sales of the certificates in the last three months of the year was 1.038,616, while the sales for the year were, with the exception of the two preceding years, higher than those of any year since 1923-24.” Sir Theodore Chambers, viee-chairman of the National Savings Committee, said, when addressing a meeting at Southend-on-Sea, that in addition to the sum invested through the medium of savings certificates, there was £204,517.748 invested through trustee savings banks and £512,810.000 through the Post Office Savings Bank. There were also savings through the building societies, friendly societies, trade union funds, small house property and many other forms. It .was, therefore, not surprising that small savings in Great Britain to-day were estimated to exceed £2.400.000,000. BUTTER IN BETTER DEMAND Cheese Market Firmer Joseph Nathan and Co., Ltd., have received from their principals, Trengrouse and Nathan, Ltd., London, the following cabled advice, dated November 6 : —New Zealand butter: Finest, 87/- per cwt.; first, 82/- to 83/- per cwt. Better demand. New Zealand cheese: 51/- per cwt. Firmer. Customs Exchange Rates Rates of exchange ruling at the announced dates 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 tlie vessels in New Zealand, finally declared rates being marked*.: — Brisbane Maru, Japan, yen . 14 3.16 d Canadian Constructor, Canada, dollars Winton, America, dollars ... *4.73 Winton, Canada, dollars *4.75 City of Bedford, America. dollars 4.661 Wairuun, America, dollars .. 4.65 J

SYDNEY WOOL SALES Further Hardening Tendency CROSSBREDS DEARER By Telegraph.—Press Assn. —Copyright. (Received November 7, 9.37 p.m.) Sydney, November 7. At the Sydney wool sales to-day, 11,182 bales were offered, of which 10, <94 were sold at auction, while 1627 bales were sold privately. . , , . Yorkshire was particularly active in a brisk market. Full clearances were effected at the improved values reported yesterday. . Prices for best fleece lines and skirtings frequently showed a hardening tendency. '■ Comebacks and croSsbreds were again dearer, being 7J per cent, above last week’s rates. Greasy merino made 26}d. for six bales from Yass, and four bales from Barraba. Comeback made the record price of 23Jd., and crossbred the record price of 22Jd. for lines from Yass. Bradford Tops Very Firm London, November 6. The Bradford market is reported as very firm for both tops and yarns. WELLINGTON MEAT EXPORT No Preference. Dividend The directors of the Wellington Meat Export Company in their annual report to September 30 state that after providing £BOOO for depreciation there remains a profit of £12,461/14/4. This amount has been carried to the credit of the appropriation account, binging the debit of that account down to £29,207/17/-. In view ,of the debit remaining in the appropriation account, the directors have considered it their first duty to strengthen the financial position of the company and thus safeguard the shareholders’ capital. On this account they are not recommending the payment of a dividend on the preference shares. The retiring directors, Messrs. W. S. Bennett, and 11. Morrison, offer themselves for re-election. The retiring auditor, Mr. W. S. Wheeler, also offers himself for re-election. There are 87,639 cumulative 8 per cent, preference shares of £1 each. Paidup capital is £236,432. Liabilities also include a loan on mortgage of £7000; due to bank, £14,271; doubtful debt reserve, £791; sundry creditors, £385. Assets, including land and premises, are set down at £227,958; sundry debtors, £1888.; unexpired insurances, £354; appropriation account, £29,207. GREY VALLEY COLLIERIES Much Improved Position Dominion Special Service.' Christchurch. November 7. The ninth annual general meeting of shareholders in Grey Valley Collieries, Ltd., was held to-day, the chairman of directors, Mr. R. B. Bell, presiding. The annual report and balance-sheet were adopted. The chairman said shareholders'could be congratulated'on the result of the year’s working. Despite the difficulties of the times, the company. had managed to rid itself of all liabilities. In days like these it was no mean achievement to pay off an outstanding dividend amounting to £3OOO and to redeem £60,000 worth of debentures, thus wiping the slate clean, in one financial year. This was the salient feature of the annual accounts and this result had been attained after providing no less a sum than £5OOO for depreciation and £3OOO for taxation and after opening a general reserve account with a deposit of £lOOO. As stated in the report, the mine at Dobson, which was equipped and ready to work a minimum of five days a week for 50 weeks per annum, was able to work only 116 days, or an average of two and one-third days a week, last year. The result was that the output was only 63,000 tons, as against 49,000 tons in 1931-32, when the colliery was closed for four and a half months, 100,000 tons in 1930-31, 125,000 tons in 1929-30, and 132,000 tons in 1928-29, the peak year. The general trade conditions from which the company had suffered for some time were unchanged to-day and, unfortunately, there did not appear to be an immediate prospect of improvement. The colliery was being maintained in a high state of efficiency and development work underground was being.continued well in advance of coal production. The retiring directors. Messrs. C. C. Davis and F. R. Hogarth, were re-elect-ed unopposed. V BASE METALS MARKET Copper Prices Easier (Received November 7, 9.5 p.m.) Loudon, November 6. The official London (middle) quotations ■for Monday, as reported by (he Australian Mines and Metals Association, compare as under with those previously

Rubber Stocks in Britain

New Guinea Goldfields The monthly returns of production and estimated profits of New Guinea Goldfields, Ltd., are as follow: —

LIVE STOCK MARKET Masterton Cattle Fair ADVANCE IN PRICES Dominion Special Service. Masterton, November 7. A fairly general advance in prices was recorded at the Maslerton cattle fair, held yesterday. No doubt the recent beneficial rains experienced in the VVairarapa induced buyers to bid with more confidence. Bullocks were in strong demand, and young cattle met a ready market. Competition was also keen Lor lai bullocks and cows. Dalgety and Co., Ltd., report having offered a yarding of some t»4O head oi cattle, which sold as follows-.—Account 'G. Moore and Sons: P.A. bullocks, £4 6/-- PA and Hereford cross steers, io 7/-’- 3-year P.A. and Hereford cross heifers, £3/5/-; 3-year P.A. heifers, £3/8/-. Account Rourarau Station: Yearling Hereford’-steers, £2/1/-; do., £3; yearling P.A. steers, £2/16/-; do., £3/6/-; yearling P.A. heifers, £l/12/-; yearling Hereford heifers, £l/12/-; yearling 1 .A. heifers and steers, £l/4/-; fat cows, £o 4/-. Account: 'H. G. Groves: Shorthorn bullocks, £5; 3-year Shorthorn steers, £4/16/-; fat bullocks, £o/14/-. Account P. H. Nathan: 2-year 1 .A. heifers, £2/18/-; do., £2/13/-; .2-year PA steers. £3/13/-. Account Tikitapu Station: 2-year P.A. steers, £3; 2-year I’. A. heifers, £2/14/-: yearling P.A. steers, £l/19/-.' Account H. J. Rayner: Bullocks, £3/16/-; P.A. yearling steers, £l/14/-. Account Okau Station: P.A. cows and/ calves, £3/12/6. Account A. and J. Gray: Fat bullocks. £7/9/- and £6/18/-. Account R. and F. Gray: Fat eows, £3/16/-. Account other vendors: Yearling P.A. steers, £2/16/- and £2/4/-; fat cows, £2/14/-; Shorthorn bullocks, £4/6/-. • r r n A full yarding was disposed of by Wright, Stephenson and Co., Ltd., at the following prices:—3 and 4-year bullocks, £4/5/- to £4/17/-; 3-year steers. £3/5/to £4; 2-year steers. £3/2/- to .£3/8/-; yearling steers. £2/5/- to £3/3/-; small "(do.). 25/- to 32/6; store eows, £2/14/-; 2-year heifers, £2 to £2/18/-; yearling heifers, 35/- to £2/4/-; forward cows, £2/5/- to £3/6/-. Waipukurau Sale Dominion Special Service. Waipukurau, November 7. At the Waipukurau sale to-day, prices of cattle showed an advance in. both sections. Pens of yearlings improved 5/-, and 2-year-qlds 10/- a head. The entry of sheep was unusually small. Cattle: Prime heavy Shorthorn heifers, £5/7/6;. P.A. do., £4/15/-; prime P.A. cows, £4/8/-; prime Red Poli cows, £3/15/-; prime Jersey bullocks, £4/15/-; medium Hereford heifers, £3/10/6 to £3 17/6; 50 store cows, £2/15/-; 20 young P.A. .cows, £3; good P.A. steers, £3/13/-; good'young Hereford steers, £3/15/-; 28 yearling P.A. steers, £2/2/-; 24 small 2year P.A. steers, £3/2/-; Shorthorn cross line, £3; young Hereford heifers, £2 14/-; P.A. heifers, account 11. P. Hole, £3/5/-; pedigree 2-year P.A. bull, account A. McGaflin, Brooklands, 24} guineas; 3-year P.A. bull, 13 guineas. Sheep: Prime ewes made up to 13/4; medium ewes, 11/11; and ewes with lambs, 16/2. Forward wether hoggets, 19/-. ' I GRAIN AND PRODUCE Auckland Markets Dominion Special Service. Auckland, November 7. Canterbury potatoes are quoted to-day at £5/10/- to £6 a ton., Meanwhile the new season’s crop from Pukekohe is coming t.Q. hand in increased quantities and is substantially curtailing the demand for old season’s. Local onions are virtually off the market, which is well supplied with Canadians of excellent quality. These are still being quoted at 14/- ,to 14/6 per cental bag, but the market is weak and a certain amount of “cutting” is going on. The oats market is firm and merchants are now charging 3/- per bushel for B Gartons. Chaff is unchanged at £6/10/per ton and the demand for both lines is poor. Fowl wheat commands from 5/- to 5/3 per bushel through store. This is below present f.o.b. parity, but fairly substantial stocks are held and some merchants are shading their charges in an endeavour to increase their share of business. Maize continues to . come forward steadily from the Bay of Plenty and sells readily at about 4/- to 4/2 per bushel ex city stores. Since the last report the Australian market for pollard has cased and merchants have had their orders confirmed at prices which have meant more favourable landed costs. As a consequence lower rates have been fixed locally and the mills have followed suit with a reduction of 10/- per ton. Bran is In fair demand at unchanged rates. English Wheat Markets By Telegraph.—Press Assn.—Copyright London, November 6. Wheat cargoes to-day had a steadier tone. Parcels were in poor demand and prices unchanged. Futures: London, December, 19/8 a quarter; February, 20/04; April. 20/6. Liverpool, December, 4/6} a cental; March, 4/94; May, 4/10 7-8. FRUIT AND VEGETABLES /Wellington Market Prices Prices of fruit, vegetables aud other produce in the 'Wellington'markets are quoted by Laery and Co., Ltd., George Thomas aud Co., Ltd., Thompson Bros. Ltd., Townsend and Paul Ltd., D. Bowie and Co., Ltd., aiid W. Bqrbidge aud Co. as follow: — Apples: Fancy grade Delicious, 9/- to 11/- a bushel case; fancy grade Sturmers, 10/- to 15/-7 fancy grade Doughertys. 8/6 to 9/6. Pears: Choice "Winter Coles, 14/- to 16/- a bushel case; choice Winter Nelis, 11/- to 13/-; choice Fancy P. Barrys, 11/- to 12/6; other varieties. 8/- to 9/-. Lemons: New Zealand choice cured, 10/- to 14/- a bushel case; tree ripened, 5/- to 7/-. Passions, choice, short, supply, 18/- to 20/- per box. Gooseberries choice. 5d to 7d per lb. Bronze plums, 7/- per halfcase. Potatoes: South Island grown Dakotas £6 to £7 a ton ; Sutton Supreme, £5 10/- to £6/10/-. . Onions: Choice brown Spanish, prime, 9/- to 10/- per bag; ex cool store, 9/- a crate, 7/- to 8/- a bag. Cauliflowers, best, 11/- to 14/- per sack. Cabbagp, choice, styiiig, 2/- to 4/.> case. Carrots, choice, spring, 5d to Sd per hunch. Parsnips, choice, spring, 6d to Sd per bunch. Sweden, choice, 4/- to 5/- cwt. Tomatoes, choice, hothouse, Hd to 1/- per lb. Asparagus, choice, 4d to 7d per bunch. French beans, choice, hothouse. 1/7 to 1/10 per lb. Green peas. Nelson, 2}d to 3d| ver lb; Hawke s Bay. 2}d to 3d per. lb; Otaki, 2Jd to 3d per lb. New potatoes, choice, Pukekohe. 6/6 to 7/- per bag. Kumnras, choice, 5/6 to 6/6 sugar bag. Cucumbers, choice, hothouse. 6/- to 10/- dozen. Rhubarb, choice. 3/- to 6/- dozen Lettuce, choice, good heart. 3/6 to 5/- per Eggs: Frc>sh, first grade, lOd to Ild per dozen. Walnuts, prime, 7}d to 9d per lb.

- • N.Z. GOVT. LOANS. « Buyers. £ s d Sellers. £ s d I p.c. Bonds. 1940 :... 102 0 0 4 p.c. ditto, 1916 .... 101 la 0 4 p.c. ditto. IMO .... 100 10 0 ■ — 4 p.c. ditto. 1955 .... 101 10 Rural Advance Bond . 0 97 0 0 34 n.e. Ins. Stk., 1939-4;, — 101 34 p.c. ditto, 1938-52 .. — 4” p.c. ditto, 1940 .... 10- 0 ’’ 4 p.c. ditto, 1949 .... 100 10 0 102 5 102 10 0 0 4 p.c. ditto, 1955 .... 101 10 0 i ■ DEBENTURES. Auek. City, 5$ p.c., 1944 101 10 Click. City. 5} p.c., 1944 101-10 0 0 Dunedin City, 5} 1044 101 10 0 — Wgtn. City. 5} p.c., 1940 101 10 0 — Wgtn. Harb. Bd., aj P-c-1040 101 10 0 — Wgtn. City. 41 p.c.. 1943 102 0 Wairere E.P. Bd„ 6 p.c., 1901 — 0 — 102 10 0 Waltomo County Council, 6 p.c., 19(51 • • 10? 10 0 Wanganui Harb. Bd., of *n r 1940 90 0 0 100 0 0 WgVn.Gas Co 101 1° 0 Wgtn. Racing Club ... 'Jo 10 Amid. Brick and Pipe 0 (Wellington) • — 95 0 Ql ax0 87 0 BANKS. 12 16 0 Conircl. of Aust., ord. .. 0 16 10 0 17 1 Comrcl. Bankg. Co., Syd- _ 17 15 0 Eng./scot. and Aust. .. — 5 14 0 . National of N.Z 4 6 National of Australasia. 0 6 14 0 •New'South Wales ... lu 0 34 7 6 0 2 8 ‘"’Ditto. “D” long term *1 12 0 1 12 3 10 7 financial. Dalgety and Co *9 17 c — Equitable Building Co., 2 15 0 Goidsbrough, Mort, and C’o 1 9 6 1 9 10 National Mortgage, “A” 2 14 — 0 N.Z. Guarantee Corpn., , 3 ord., cum. rights ... 0 8 N.Z. Invest., Mort, 'and 0 s 0 . N.Z. Loan and Mere., 62 0 0 N.Z. and River Plate ,. 1 4 0 .. — Wgtn. Trust. Loan .... 4 0 0 —• Wgtn. Dep. & Mortgage 0 o 6 — GAS. . Christchurch ■ — 1. 8 3 Napier, pref. . 9 17 6 Wellington, ord 1 L 6 1 14 INSURANCE. , N. Aust/Prov. Assee -7 0 12 National of N.Z *0 18 6 I — Standard 2 19 0 — MEAT. i is Gear Meat, cum. rights 1 12 0 6 N.Z. Refrig., £1 paid . 1 0 0 1 0 7 Ditto, 10/- paid 0 9 9 0 9 11 Southland, contrib. ... 1 7 0 —— Wgtn. Meat Exp., pref. 0 18 0 1 5 0 TRANSPORT. Huddart. Parker, ord. 1 10 9 111 9 Union Steam, pref. ;.... 1 4 6 ■ —- P. and O. defd. stock . 1 4 0 — ' WOOLLEN. 5 14 0 5 14 0 COAL. 0 *0 13 11 Westport-Stockton, pref. 0 1 10 TIMBER. *0 16 0 Leyland-O’Brien 0 19 0 Parlngamutu Totara .. 0 2 *> — BREWERIES. Carlton 2 4 0 , - 0 1 18 0 3 MISCELLANEOUS. British Tobacco, Aust. — 1 18 3 Burns, Philp and Co. .. — *2 15 3 Colonial Sugar —■ 61 12 6 Dominion Investments 1 3 0 Dunlop Perdriau .... 0 18 3 0 19 0 Electrolytic Zinc, ord. . 1 5 10 1 6 6 Ditto. 8 p.c. pt. pref. — 1 15 0 Henry Jones Co-op. .. — *1 16 0 National Electric — 0 6 9 N.Z. Drug 3 10 0 —■ N.Z. Farmers’ Fertiliser 0 16 o II — N.Z. Newspapers 1 7 Prestige (N.Z.), Ltd., 0 — pref — 1 2 0 Sbarland and Co., pref. *1 2 6 —— Wilsons Cement *1 6 9 1 7 9 Woolworths (N.Z.), pref. — 1 15 3 Ditto. Sydney, 7 p.c.. * pref. —■ 1 6 6 OIL. Moturoa, ord 0 2 6 Ditto, pref, ........ 0 3 0 0 4 6 0 MINING. Alexander — (I 17 0 1 6 Bell Hooper ..: — Ditto, fully paid ... — 0 IN 3 Bell Kilgour 0 1 n Big River — 0 1 . Central Shotover 0 1 Gillespie’s Beach, ex. 0 rights 0 2 0 2 3 King Solomon ••••••«• 0 3 o 0 3 4 1 Mataki 0 1 1 0 2 Mount Lyell ....••••• 1 3 o 1 3 Okarlto 0 10 0 Waihi * 1 5 8 1 1 6 0 Waihi Grand Junction 0 3 1 Nevis Diesel-Electric . _ — 0 1 0 Bulolo 5 5 0 •Cum dividend. . ;—

Return on investSale price ment £ s d £ s d laser. Stock, 4 p.c., 1940 100 10 0 3 19 1 Bank of N.Z 2 8 0 4 13 9 Ditto 2 8 0 4 13 9 Wellington Gas *1 14 0 4 14 1 Standard Insurance .. 3 0 <> 4 2 11 Gear Meat »1 12 9 N.Z. Refrig.. 10/- pd. . 0 9 9 Ditto 0 9 10 —— Huddart, Parker, ord 1 11 3 3 4 0 Wai in 1 5 8 7 15 10 Ditto 1 5 8 7 15 10 flnterlni dividend passed. “Late sale Monday. / AUCKLAND. £ 8 d £ 8 d Rural Bonds, a p.c 1947 . 95 0 0 5 9 5 Inser. Stk., 4 fi.c.. 1949 100 0 0 4 0 0 Ditto, 4 p.c., 1955 . 102 0 0 3 17 — Dank of .N.Z Q 8 0 4 13 9 Pukemiro Coal (2) .. . 0 it G 5 2 G Leyland O'Brien Timber 1 0 3 4 18 9 Colonial Sugar . 61 7 « 4 1 o Electro Zinc, ord. ... . 1 7 0 —— Morris Hedstrom .... . 0 9 4 3 8 N.Z. Paper Mills (2) . 1 7 9 3 12 1 N.Z. Refrig., eontr. .. . 0 9 9 —-. Golconda, 8d. paid .. . 0 0.10 —• Bell Hooper . 0 0 11 — Mount Lyell . 1 3 0 t Rawang Tin . o 4 —— Unofficial List— Auck. Farm. Freezing . 0 14 0 — Oamaru Wool . 0 6 3 Were's, 5/- paid .... Roberts Stabiliser .. . 0 4 7 —— . 0 1 0 . — tlnterim dividend passed. DUNEDIN. £ s d £ s d N.Z. Refrig.,.eontr. . . 0 9 .1 —— Wailii G. Junction . . 0 4 0 8 G 8 Waitahu . 0 6 ;» — Ditto (2) . 0 6 Bell Kilgour . 0 1 4 — Ditto . 0 1 34 Bell Hooper . 0 1 0 — Mount David‘ . 0 J —-

Nor. 6. Nov. 4. Par. N. York, dol. to £ 4.89 4.86+ 4.866 Montreal, dol. to £ 4.89 4.865 4.8611 Paris, fr. to £ .... 80 31-32 80 1-32 124.21 Brussels, bel. to £ 22.70 22.455 35.00 Genova, fr. to £ ..’ 16.355 16.165 25.22-5 Amst’dam, fl. to £ 7.855 7.765 12.107 Milan, lire to £.. —- 59.50 92.46 Berlin, inks, to £ . 13.295 13.115 20.43 St'holm, knr. to £ 19.405 19.405 18.159 C’hagen, knr. to £ 22.40 22.40 18.159 Oslo, knr. to £ 19.90 19.90 18.159 Vienna, scbgs. to £ 2S.25 28.50 34.585 Prague, knr. to £ 106.50' 105.50 161.25 Hel’fors, mks. to £ 220.75 226.50 193 23 Madrid, pes. to £ 37 27-32 37 13-32 25.225 Lisbon, esc. to £ 104.50 103.75 110 Athens, druch. to £ 560 560 Belgrade, din. to £ 231 —— 276.31 Bucharest, lei to £ i*30 813.60 Warsaw, zloty to £ — — 43.38 Rio de J., p. to mil. +4 3-8 +4 3-8 i 5.899 B. Aires, p. to peso +441 +44 i 47.62 M. Video, p. to peso *361 ’ 30151 Calcutta, p. to rup. 18 1-32 lS. 1-32 18 Shanghai, p. to dol. 1511-10 15i H.-Kong, p. to dol. 17+ 17 + Y”hama. p. to yen 14 15-32 14 7-10 24.7+82 Batavia, fl. to £.. 7.S0 7.75 . 12.107 ♦Nominal. {Official: Gold and Silver. 4?

1933. Centre. Bales. Bales. Nov. 27 Auckland 25,000 (28,687) Dec. 1 Napier 26,000 (28,608) Dec. 7 Wellington 25,000 (29,106) Dec. 12 Christchurch 25,000 (24,864) Dec. 16 Timaru 15,000 (10,079) Dee. 20 Dunedin 25,000 (23,335) 1934. Jan. 6 Napier 30.000 (27,465) Jan. 11 'Wellington 25,000 (28,439) Jan. 15 Auckland 25.000 (22,741) Jan. 19 Wanganui 30.000 (27,566) Jan. 26 Christchurch 25,000 (25,189) Jan. 31 Invercargill 30,000 (27,596) Deb. 5 Dunedin , 30,000 (30,340) Deb. 9 Timaru no limit (20,410) Deb. 15 Wellington 25,000 (30,082) Feb. 20 Napier 25,000 (25,102) Feb. 23 ' Wanganui 30,000 (26,660) Mar. 2 Christchurch 25,000 (25,143) Mar. 7 Dunedin 30.000 (30,377) Mar. 9 Invercargill no limit (22,307) Mar. 19 Wellington 25.000 (19,322) Mar. 23 Napier 25.000 (17,445) Mar. 27 Auckland no limit (14,463) Apr. 6 Christchurch no limit (11,095) Apr. 10 Dunedin no limit (13.986) Apr. 17 Wanganui no limit • (15,599) Apr. 20 Napier no limit (5,115) Apr. 24 Wellington no limit, (11,481)

Certificates Decrease. issued 53,179,752 8,179,856 Cash value .... £42,543,802 £6,543,884 Average weekly sales (48 weeks) 1,107,912 72,080 Cash value (48 weeks) £886,329 £57,665 Conversion Savings Certificates issued 13,043.226 32,472,689 Cash value .... £10,434,581 £25,978,151 Repayment of Certificates— Principal .. £48,197,812 £30,029.984 Interest ... 24,179,311 23,369,482 Total .... £72,377,123 £53,399.466

cabled: — Nov. 3. Per ton. Nov. fl. Per ton. Cooper— Standard, spot ... c s 32 13 d 9 32 s 1 d 10 i Standard. forward 32 IB 3 32 4 4| 36 0 0 . .71 10 ') to 37 (1 0 36 10 0 "Wire bars 37 0 0 36 10 0 Lead— Forward 12 0 0 11 0 12 G 3 12 2 B Spelter— 15 12 c 15 10 0 Forward 15 18 0 15 17 6 Tin— f Spot * ».. • 224 18 9 . 004 IB 3 Forward 224 1.1 o 004 6 Silver — Standard, per oz. * 18*d 18*d 19 13-16d 19 1516 d iAmerlcan, not quoted. •American, S cents i lb.

London, November 6. Kubber stocks are reported as follow!:— Nov. 6. Oct. 2. Tons. Tons. London ..... 37,170 39,174 Liverpool .. 52,818 56,614

July. £ Aug. £ Sept. £ Bullion, oz. — Alluvial . 2,703 3,533 2,2-10 Mill . . .. 1,0-15 1,316 1.634 Estimated profit— June. July. Aug. Alluvial , 5,7-13 - 7.828 10.700 Mill .. .. 6,235 5,S11 7,500