FINANCE AND COMMERCE

Dominion, Volume 27, Issue 68, 13 December 1933, Page 12

FINANCE AND COMMERCE

STOCKS AND SHARES,

Wellington Market Active PRICES REMAIN FIRM Small movements in prices were seen ' .estmday on the Wellington Stock Exi change, the market being active and firm ‘ on Ute rates. Twelve sales were re!C ° Government continued to attract ! S t“£«. - W4SS4S i? ’ sellers induced 'a hardening tendency in ? Ssasssi Gas debentures advanced 5/- to iiw 5/- without attracting sellers. 7 Little change was seen m banks. JN ew . i sold at 47/- and the longkTtrX'ihSwe'dmo'changYin “ £9/15/- and National of Australasia, £< "paid. sold at £6/8/4. Commercial of Aus tralia advanced another 3d. to 17/9. mi were no sellers. Pastoral shares were firm nnd ' in .^. a ”“' ed, and there was a good demand foi »as shares at about late rates. Meat shares , ’ ' iniitr maintained ■-Insurance shares fully • thflr strength. Nationals sold at 10/3. •New Zealand's moved up to 57,/.•-. , t In the miscellaneous section, Colonia I ’'Sugarsrecorded a' sharp advance ,t Told at' 15/4 and 15/6,-and King Solomons at 3/2."' *' WELLINGTON EXCHANGE v C “ l '■ / '/ z Latest Quotations Exchange, were as ,follow. i ■

London Stock Exchange (British Official Wireless.) . London, December 11. On the Stock Exchange to-day the markets were cheerful. British Government stocks-were in the ascendant, War Loan, 3} per cent., £lOO/7/6. French loans were better. Kaffirs were good. Gold advanced to 127/- per fine ounce, a premium of 5Jd over the French', franc. By Telegraph—Press Assn. —Copyright . .. London, December 11. Sales of mining shares to-day included Broken : Hill, 32/-; Broken Hill South, 40/6; Great Boulder, 8/7J; . Sons of. Gwalia, 30/11}; Perseverance 3/-; Horseshoe, 3/9; Lake View, 22/85; Zinc Corporation, ordinary, 28/1}; Kamiinting Tin, 13/6 J: Wiluna, 50/2}; New Guinea, 4/9}; North Kalgurli, 11/4}; Bulolo Gold Dredging, 84/9}; Panngu, 1/6; Anglo-Australian. 4/11}. Nominal prices were: Mount Lyell, 17/-; Northern Blocks, 2/-. w

DEALINGS ON ’CHANGE

Sales Recorded Yesterday RETURN ON INVESTMENTS cnioa recorded on Dominion Stock Exfflrusrln K MSm Investment ■'at ’the prieei feel Into turn nn 4 nor cent. Government loans, ineludes redemption. In the case> of 3 i P r C X‘-cS WPer>od f“or wl eh °th meantime.

SYDNEY STOCK EXCHANGE

A Buoyant Market BjT Telegraph.—Press Assn.—Copyright. (Received December 12, 9.10 p.m.). Sydney, December 12. The Sydney Stock Exchange to-day was buoyant, with an increased turnover, probably due to clearing-up transactions before the holirt ’s. Company shares were firmer and Colonial Sugars rose sharply. : Sales: Bank of/New South Wales, £3l 15/-; Commercial Bank of Sydney, £l7 5/-; National Bank of Australasia, £5 paid, £6/10/-; National Bank of Australasia, £lO paid, £l3/10/-. Colonial Sugar, £64; Associated News, 21/6; ditto, pref.. 20/4J ; Howard Smith, 12/4}; Burns Dhilp,' 54/-: Australian Gas, A, £7/14/-; Burns Philp, South Sea. 32/-. - - ■ .-. • -.-'■ ■ • Tooths, 42/9; Tooheys, 23/6; Dunlop Perdriau, 20/-;'Goldsbrough Mort, 33/-; Australian Provincial Assurance, 10/9; David Jones, 36/-; Millaquin Sugar, 30/-; Morris Hedstrom, 18/9; Henry Jones, 34/-. Electrolytic Zlinc, 26/1}; Farmers, 17/9; Australian Iron and Steel, pref., 18 Mt. Morgan, 58/3; Mt. Lyell, 22/6’: Kuala Kampar, 13/-; Broken Hill Proprietary, 41/-; South Broken Hill, 65/9;' Bulolo Gold, £5/8/6. - ! Morning sales included : Commonwealth Bonds. 4 per cent./1938, £lO5/5/-; 1941, £lO4/3/9; 1953, £lO6/3/9; 1955, £lO6 15/-; 1957, £lO5/5/-; 1961, £lO6/3/9; Australian Gas, A; £7/13/-'; Tooths, 42/9; Burns Philp, 54/-; Associated News, 21/3; preference <lo„ 20/4}; Meggitts, 21/6; Morris Hedstrom,* 16/6. Melbourne,' December 12. Sales on' the Melbourne Stock Exchange to-day included / Commercial Bank of Australia, 18/2 ; / Dunlop Perdriau, 20/-; National'Bank of- Australasia, £lO paid, £l3/8/-; :Metropolitan Gas, .. £l34/-; Herald and : Weekly. Times,, 49/9. FOREIGN EXCHANGES . Position of Sterling (British Official Wireless.) j . ; . London, December 11. The following rates on foreign exchange? were current to-day. compared with those ruling on December 9:—

Gold and Sliver. London, December 11. ■ Gold.—£6/7/- per fine ounce. Silver.—Cash, 18 5-8 d per ounce; forward, 18 11-lfld. Mataki Dredge Return By Telegraph.—Press Association. Auckland, December 12. /The Mataki gold dredging return for the week ended December 9 was 25 ounces for 133 hours’ work.

BETTER RESULTS

Taringamutu Totara Sawmills STEADY IMPROVEMENT “The past 12 months-have again been very difficult for the timber industry, but we are pleased;to report that.there are unmistakable signs of steady improvement,” states the annual report -ot the directors :of Taringamutu , Totara lawmills,. Limited, a Wellington, company, which owns mills aiid property near lau marunui. --The loss for the year Avas £2085. compared with a loss., of £6OJO in the previous year. • . - . In analysing the year’s operations the directors state that the first six months showed a loss of £l9OO. including depreciation. while the last six months operations resulted in a loss of only xi iJ. Operational have been completed for the working of-, a block of . mixed timber. During the year a further 20_0 acres have been sown in grass and additional stock acquired for the farm,, which is ouce more paying its way. ' I The debit in the profit and lossappropriation account is increased tortyaaT. The capital of the company is iBO.UUU. in fully-paid £1 shares.. Tne total of assets is £75,375. '/i-.

NATIONAL BANK OF N.Z., LTD.

■ The Interim Dividend . ; The National Bank of New’ Zealand, Ltd., has advised the Stock Exchange. Association that the transfer books closed yesterday. As announced in this column on December 7, the directors have authorised an'interim dividend, at the rate of 4 per cent, per annum, free, of tax, for,, the half-year ended September3o last The dividend will be-payable in New Zealand on January 6; at any . branch sof the National. Bank-1 of New Zealand,'Ltd.; at the-rate : of exchange • for demand: drafts on London on the'date of negotia-. tion. ~ .

' NATIONAL ELECTRIC CO.

—-—— ).’• -si Improvement;.in Results’ Dominion Special Service. Dunedin, December 12. In the directors’ report to be presented at’the twenty-sixth annual meeing of the ■ National Electric and ■ Engineering Co., Ltd., on December 18, it ,ia.'Stated That operations- for the year resulted in a trading profit of £1630/1/3.- The year commenced with a debit balance of -£9Blo 10/8 on profit and loss account,- against which was applied the-reserve account' balance of £5174/17/4, reducing the debit balance to £4640/13/4. , ■ - After'paying land tax, £B3/6/10,- and income tax, £3O/9/0, and a further.writing down of the shares held in New. Zealand Insulators, Ltd., by £lOOO, and after crediting the above profit on the year s trading, the profit and losh account now stands at £4074/8/2 in debit. In accordance with past practice, the assets of the company have been- conservatively s valued, sufficient provision having been made for depreciation of plant, buijdings, furniture, and. stocks.

f -.vt • ■ . „ . vC’." GOLDSBROUGH, MORT

The Recovery in Wool ’ At the interim meeting of GoldsSrough Mort and Co., Ltd., in Melbourne last, Thursday, the chairman of directors, Mr. J. M. Niall, who presided, said the directors had followed the practice adopted in the last three years of deferring any recommendation regarding payment of a dividend- until the figures for the full financial year ending March 31 next were available. This decision had been arrived at notwithstanding the decided im-, provement that had taken place in the wool market in the last six months because there stffl were factors in the world position which gave rise to uneasiness. ■ “The financial position in the United States of America is far from satisfactory,” said Mr. Niall, “and the experiment now being made in that country to raise commodity prices may not prove successful,' If so, it seems probable that a serious crisis may occur, the effects of which will be felt throughout the whole world. The political and financial situation in Europe is also extremely uncertain, and it is always possible that serious troubles may arise. Commodity prices are, for. • the most part, .unreinunerative, and until a general rise in the values of primary products, and particularly wheat, takes place, there can be no real recovery from the'depression which has af-‘ fected the world in the last,few years... The wool market, said Mr. Niall, had had a remarkable recovery. The rise in began in June, and, although there was a temporary setback after the first shies of the current season, the leeway had been more than made up, and the •latest "sales'.-had been the best of the series. It was impossible to forecast how long this Z satisfactory state of affairs Would continue. .Much depended ultimate result of .'the United States experiment and developments in Europe. If no unfavourable!'-developments took place it seemed: reasdiable to expect that, wool values would -be - maintained at a profitable level. ' This view> was based on the’shortage this season'not Only in Australia, but also in South Africa, New Zealand, and other producing/’countnes, and to the .improvement , in-;-trade shown in manufacturings centres,;-, y'Becent advices. from .Bradford ands the-Continent were to the effect : that- machinery was well employed, 'stocks not excessive, and the number of unemployed ireduced. In addition, the increasing demand/hy the Far Eastj« even- if partly -due-fo'’the displace; ment/of other , purchasers,; .was of considerable .importance to ,the^’ wool trade. Blue-Star Line Blue Star Line, Ltd., shipowners, after meeting debenture interest and transferirig £500,000 .to depreciation reserve, shows a net profit of £39,294, and the amount of credit of profit and loss carried forward is Increased to £147,109. No dividend is paid. The whole of the capital of £500.000 is held by the Union Cold Storage Co., Ltd., and debentures at £2,-113,000 are guaranteed by the British Government and the Union Cold Storage Co. - -

BASE METALS MARKET

Copper and Tin Firmer By Telegraph. —Prpss Assn. —Copyright (Received December 12, 9.10 p.m.) London, December 11. -The official London (middle) quotations for Monday, as reported by the Australian Mikes and Metals Association com pare as under'- with those orevlouslv

A FURTHER RISE

Sydney Wool Sales Animated .RECORD HIGH PRICES By Telegraph.—Press Assn.—Copyright. (Received December 12, 10.10 p.m.) . Sydney, December 12. At the Sydney wool sales to-day greasy merino made an Australian re-cord-of 37id. a lb. for seven bales from Barraba, which is one of the best woolgrowing'districts'of New South Wales. Lambs’ wool also .made a record price of 28jd.. . . .. - r .. . : The market Wtis extremely animated with the keenest- demand for all best de-, scriptions, prices showing an advance of five per cent., compared with the pre-, vious day. • . A total of 13,198 bales was offered, 12,645 being sold at auction, in addition to 695. bales sold privately. Melbourne Prices Firm By Telegraph,’--Press Assn.—Copyright : Melbourne, December 12. ■: - The opening of the -December series of Melbourne wool sales showed prices to be firm at the closing rates of last series, any change being in growers’ favour. ‘ Merino wool sold up to 27d. per lb., comebacks to 25Jd.

BRADFORD TOPS MARKET

. .. Crossbreds Firmer ? v ~ • ■ 1 ” • By Telegraph.—Press Assn.—Copyright.. London, December .11. ' The Bradford, tops' market has a firmer tone, for crossbreds.

LIVE STOCK MARKET

Waipukurau Sale ■ Dominion Special Service. Waipukurau, December 12. There were large entries of fat cattle and. lambs at' Waipukurau sale to-day. Recent values were firmly maintained. The highest price for fat cattle was gained by Mr. J. W. Harding, Mount Vernon, with seven Red Poll bullocks at £7 2/6. Prime . P.A. bullocks reached £5 12/6, and Serefords from Sherwood £4 15/-, eight of. extra quality being passed at £5/18/-.. . Steers,. especially 15 months' and two-year-olds, also There was- little change in fat lamb prices, but store sheep were .easier bv an average of 1/- a' head. . : ” (Cattle: Prime P.A. cows, up to £4/1/-; prime P.A.- heifers, £4/17/-; 39 well-bred P.A. steers from Argyle.' £4/10/-; seven others, Oakbourne. £4/11/-; good P.A. 15-mbnth steers, £3/3/-; ditto, heifers, £2/10/-; gobd' first-calver Jersey heifers, account T. P. Gurney, £5, <, Sheep: Prime lambs, large lines, up to 21/-; and 37 wethers headed that list of fats at 20/1. Store wethers to 17/10.

GOLD MINING

. Blackwater Mines ' ' '' ■ 1 ' The report of Blackwater Mines, Limited (Reefton), for November, with October figures -in parentheses, is as follows Crushed, 4185 tons of- ore ’ (3.797 ..ton’s),, yielding "1859 (1670) fine ounces of gold, valued at £11,151 (£lO,263) at £6 an ounce. Working costs were. £5777 (£5142). leaving a working profit of £5374 (£5929). Development expenditure was £7BB (£796) and capital expenditure £3090 (£2658). All the mine water' is now being pumped electrically, making the work far easier for the compressors. The unprecedented dry weather now being experienced is at the moment causing uneasiness and retarding the output. . . - For the quarter ended September 30, a total of 12,310 tons was crushed for a yield of £32,684, at £6' an ounce, fine. Working expenses amounted to £16,593, while development and shaft sinking' amounted to £5213. On capital account £1920 was spent. . ■ Bell Hooper Cromwell An extraordinary . ( general meeting of shareholders in Bell Hooper Cromwell Gold, Ltd.;, resolved that the capital of the company" be increased from .£35,000 to £40,000 by the : creation of 100.000 additional.ordinary shares of-1/- each; ranking for dividend; and :in all respects pari passu with the ordinary shares of the company. ..That, the 100,000 additional shares be offered in. the first instance at par to'members of the company in proper-’ tion to' the number of ordinary shares held by them' respectively and upon the footing that 3d a share shall be paid to the company on application, 3d a share upon allotment, and the balance in calls not exceeding 3d a share at intervals of not'less than a month. ■■■■' Paddy’s Point Results i . _ The gold Avon by Paddy’s Point Gold Mining Company,'; Limited (Central Otago), for the half-year ended Novem--. her 7, was 2540 z., the melted weight: of which was 2436 z„ compared with 3430 z. in the corresponding half-year of 1932. The average-price . realised was £6/17/an ounce, based on the melted weight. 7 A-net profit of £578 was’ earned for the half-year, as against £1027 for the same period last year. The profit was struck after writing off the expenditure incurred in connection with the ®ropo» ed«Biingtown water race, and after writing off. £35 from freehold property.. Provision has been made for the income tax payable ■by the company in February, 1934, fri respect of the dividend paid bn Ajiril; 3,'1933. The balance remaining to the credit of profit and loss appropriation account after transferring-the profit for the half-year is £1843, while the funds of-the company, including the value of gold on hand,' amount to £1445. The directors have declared a 5 per cent, dividend (3d.a share), while tvill be paid on December 18. This was announced in “The Dominion” on December 7. During the period, the company has sluiced three- large paddocks. The results from the first two of these, namely,' 670 z. and 630 z. respectively, were extremely poor and were disappointing in . view of the values which the ground in that vicinity was expected-to contain. The third paddock, produced a better result (1240 z. but even this could not be considered very satisfactory, in view of the-,10 weeks occupied over the paddock/ nnd. in view.also of the fact that the paddock contained ground in which a shaft had been sunk indicating values of 2/- a cubic yard on present gold prices. From these results the ground. is considered patchyl Dollar Conversion Rates The Associated Banks have agreed that the conversion rates from December 9 will be:— U.S.A. Canada. Conversion of dollar bills received for collection and sale of dollar drafts 5.06 4.98 Purchase of dollar bills . 5.26 5.18 These conversion rates are, ot course, ascertained on a sterling basis (London funds), and therefore current rates of ex-, change New Zealand on London will also be-charged or allowed as the case may require. . ./A , ■4‘

GRAIN AND PRODUCE

Auckland Market Quotations POTATOES CHEAPER Dominion Special Service.- ' Auckland. December 12. The potato market has .fluctuated almost daily, but, generally speaking, it is inclined to weakness, and merchants are now quoting from 3/- to 3/6 per bag through store. The crops generally are excellent, both as to yield and quality. ■As a'result of the firmness in the south, merchants have raised their prices for oaten sheaf chaff to £7 per ton. B Garton oats are still selling at 3/- per bushel, but A’s have been advanced 2d. to 3/5. The demand for horse feed is very poor. Fowl wheat is very firmly held in the south, but local dealers are working onstocks bought earlier,' and local quotations are unaltered at 5/- per bushel through store. Ungraded wheat of fair quality is now rather scarce.. The maize market is very firm, and there is virtually none available under 4/3 per bushel. Stocks in the Bay of Plenty are firmly held, and merchants are now sending some of their orders to. Gisborne. Importers of Canadian onions have been faced • With the possibility < of loss through stocks deteriorating through warmer weather, and to avoid.this.quotations have been lowered to about 17/- per cental. New season’s onions,from Puke' kphe and other local sources are now available.. ' ’

FRUIT AND VEGETABLES

■ Wellington Market Prices

. Prices of fruit, vegetables and other' produce in the Wellington markets 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, 7/- to 8/-. ’ " . Cherries : Choice, 4/- to 7/- 'per. box. ■ Strawberries;. Choice; -Auckland, 9}d to 1/5 a punnet ; Nelson, 9d to 1/-. Loganberries: Choice, Sd per punnej. Lemons: New Zealand, choice cured, 10/- to 12/- a bushel; tree-ripened, 5/to 7/-. Grapes: Choice hothouse, 2/- per pound. Gooseberries: Choice, 3id per lb. Passions: Choice, short supply, 18/-to-20/- per-box. Plums: Bronze,- 3/->p& r half case; Cherry,' 2/- bo 2/6 per half ■case. . Peaches:. Choice,'. Mayflower, 7/to 10/- per half case; others, 3/- to 5/6 per half case. Black currants: 7/- per 101 b box. Red currants; Choice, 3/6 to 4/- per 101 b box. Onions: Ex cool store, 5/- to 6/- per crate. Cauliflowers: Best, 1/- to 1/6 per bartana case. Cabbage: Choice, 2/0 to 3/6 banana Case. Carrots:' Choice, 3d to 5d per bunch. Parsnips: Choice", sd’ to 6d per bunch. Tomatoes : Choice Hutt hothouse, 5d per lb; Nelson Red, 5/6 to 6/- half case; well coloured, 6/- to 6/6 half case; coloured, 5/6 to 5/9 half case. Marrows: Choice, 5/6 to 6/6 per banana case. French beans: Choice, 4d per lb, GrSen peas: Choice, 4/- to 5/- cental bag. New potatoes: Choice, 4/- to 4/6 per banana case. Cucumbers: Choice hothouse, 3/- to 4/- per dozen. Lettuce: Choice, good heart, 2/- to 4/- per banana case.- Rhubarb; Choice, 2/; to 5/- per dozen bunches. Eggs: Fresh, first grade, 1/3 per dozen. Walnuts: Prime, 7Jd to lOd per lb.

Overseas Wheat Markets

By Telegraph;—Press Assn.—Copyright. - : : - . London, December. . 11. ■’ Wheat': Cargoes to-day made- an upward movement. Parcels were steadily held and. trading was small.. .Futures: London, December, 18/5 per quarter; February, 18/6; April, 18/9 ; June, 19/3. ■ Liverpool, December, 4/2 7-8 a cental; March, 4/5 5-8 d; May, 4/71-8; July, 4/8 5-8. . New York, December 11. . Chicago wheat futures: December, 85 5-8 cents, a bushel; May, 87 5-8 cents; July, 85j cents. New. York, cash, 97jcents.

, j i* .N.Z. GOVT.-LOANS. ’• ’• /.Buyers. ' ' &?'■■•' J/" . £ s d Sellers. ■ £ s d 4 p.c. Bonds, 1940 .... 101 17 6 — 4 P.C. ditto. 1348 .... 101 10 0 • ■ 4 p.c. ditto/ 1049 .... 100 lu 0 4 p.ci? ditto, 795o j . ..r-102 0 0 Hural Advance Bond . — 96 15 0 3} p.c. Ins. StX- 1930-43 101 0 0 3* p.c. ditto. 1930-53 .. 101 0 0 31 p.c. ditto, 1938-43 .. 101 0 0 3} p.c. ditto, 1938-52 ,. 101 0 0 —— 4 p.c. ditto;'.'10U. .... 102 0 0 • —■— 4 p.w Wto,71948 .... 101 15 0 •— 4 p.c. ■'ditto. 1949 .... 100 lu 0 4 p.cJ ditto,-1055 .... 102 7- 6 debentures. Wgtn. City. 4}, p.c., 1943 192 5 0 . — Walere <P. Bd.,‘ 6 p.c., 10617 — 101 0 0 Waltomo County C.. 6 . P.O., 1901 I.'.;/...;.' - — , 10? 10 0 Taumarunul Boro., 0 ■Wgtn? Gas° Co* ’ i...K 102'5'0 Wgtn. Racing Club . 96 0 0 101.10 6 ■ Amid. 1 -Brick 4 and Pipe. • ' i .w , Wellington 92 0 0 ; — BANKS. 12 7 Australasia 12 0 0 6 Comrcl. of Aust., ord. . 0 17 9 Control, Bankg. Co., 8yd17 10 •4 5 0 National of N.Z — ‘ 0 New South Wales ..... . — - 32 15 JCaw ZefllfllUl 2 0 10 2 7 *’”Dltto, “I?’ long term —■ , 1 12 6 Union of Aust 9 14 0 x9 17 6 •FINANCIAL. 10 15 Dalgety and Co. ...9 18 0 0 Goldsbrough Mort & Co. 1-12 tj — National Mortgage, B ’ 1 10 0 N.Z. Invest., Mort, and' - ■' N.Z. Loan and Merc., 61 0 0 Wgtn.’Trust, Loan ... — 5 O 0 . General Finance, Ltd. . — 1 0 0 GAS. —< Ditto, .eontrlb. ...... 0 17 3 — Christchurch 18# Wellington, ord. ....... 1.13 9 Tiniaru .7 ~ . 1 15 0 1. 1 0 '• ■■ • INSURANCE. - > .•019; National of N.Z. ;.... 9 19.0 4 'South British .... 3 16 . 9 ■ MEAT. Gear Meat; cum rights *1 12 9 < —— N.Z. Refrig., £1 paid . 0 19 9 Ditto. 10/- paid 0 J) 7 ■ —. Wgtn. Meat Exp., pref. 0 10 6 — / WOOLLEN. 5 15 Wellington, 'ord., ...... '5 11 0 0 s. , TIMBER. 0 13 0 Leyland-O'Brien 1 ? 0 —— Taringamutu To tar a .. 0 29 — BREWERIES. t —•» NLZ. Breweries*** 116 3 I 1 17 6 Staples and Co — 1 8 3 miscellaneous. British Tobacco; Aust. *1 17 0 1 17 6 Burns, Philp and Co. .. — _ 2 13 9 Colonial Sugar 62 12 6. Dunlop Perdrlan o 19 6 0 19 10 Farmers’ Co-op. Auct'ng... 3. 0 0 0 National Electric, ZZ x 0 6 N.Z. Farmers’ Fertiliser o IS 0 —— N.Z. Paper Mills ...... 1,8 0 Prestige (N.Z.), Ltd.. pref -7 . 1 2 0 Sharland and Co., ord. 1 3 0 i Ditto, pref. .i...... 1 4,0 Wilsons Cement ...... 1 5.9' 1 6 6 Woolworths, N.Z., ord. — Woolworths. Ltd., second 5 12 6 1 5 6 Dominion Fertiliser ... > — .' 0 18 3 Northern Koller Mills . 19 0 — - — mining. Alexander, fully paid .. 0 16 O — Ditto, contrib 0 15 0 —— Bell Hooper ..1;....;. 0 0 10} 0 1 0 Beil Ktlgoilr ......... — 0 1 1 .0 1 •1 14 ‘6 Consol.. Goldfields —■ ♦0 17 11 Gillespie’s Beach 0 19 — Golden Point : 0 0 2 ■■■■ — King Solomon ....... 0 3 2 0 3 3 Mntnkl "I;.. 2.1;.’.'...;. — 0 1 8 1 2 7 0 3 2 0 9 5 1 7 0 Waitahu 0 5 2 *Cum dividend. Unofficial List Buyers. Sellers. £ s d £ s d Invest.." Exec. Trust, “B” 0 Wgtn. Publishing Co. 4 3 0 5 0 0 Denhard Bakeries, pref. — . 1 1 0 Woolworths, Ltd., ord. — 6 0 0 Glaxo Mg.. pref. .. — - Tru Colour Film, 12/1 2 6 ■■ ■ Southern Cross Assurance, 10/- paid • ••• — 0 6 6

WELLINGTON. Return on in Sale Price, vestment. £ s d £ s d Kural Advances Bonds *96 0 0 Ditto 98 0 0 5 8 5 8 4 4 Nat. Bank, Aus/asla, £5 paid * * Bank of N.Z. (2) .... 6 8 4 2 7 0 •1 12 0 9 15 0 0 19 3 14 6 3 17 4 15 1 9 Ditto, long term . . Union Bank of Aust. National Insurance . Sharland & Co., ord. 2 11 3 17 ■4 1 3 1 7 Alexander Mine?, pontty . ; Ditto 0 15. 4 0 15 0 King .Solomon ■' *Latesalb 1 0 3 2 donday. i ... AUCKLAND, . j £ ' ’'st ' d £ s d Inset. Stock, Sj- ’p.c., 1 p.c. ( 1938-52 Comm: Bk. - of Aust." (2) i Ditto . 1 1 ... Ditto, pref. ■ Bank of N.Z.. •( N.Z. Insurance (2L;,. South Brltlsh'Insur. 101 0 0 3 9 3 0 17-10 G'2 16 1 0 17 11 2 15 10 8.18 0 4 9 10 v-2-"7 ‘2 • 4 15 4 2 17 3 3 9 10 / 3.17 3 3 9 0 United Build: (Chch.) o 17 y a 4 10 o 11 - Pukemiro Coal 0 15 C 17 o a Q o Tauplri Coal ......... N.Z. ■ Breweries..... o u 3 15 8 Hill & Plummer. 0 12 ,0 a is ii 0 4 3 o Farmers* Fertiliser .. Walhl G. Junction ... a a o 7 10 10 Gillespie's Beach .... 4 1 Hi Matakl Ditto ........... 0 14 — CHRISTCHURCH. . ■ .. £ s d £ 6 d Comm.- Bank of Aust. Ditto 0 17 10 0 17 11 2 16 2 15 1 10 Ditto 0 18-0 2 15 6 Bank of N.S.W. : 1 Goldsb'r</ugh Mort r(3) 32 5 0 3 2 0 ■1 13;. O 1 10 4 , N.Z. Rettig., paid: (2) •1.0 0 —~ Ditto, contr. ..... 0 9 8 Kalapoi Woollen, 17/— paid (2) Anthony Hordern .... 0 8 3 0 13 4 — Dominion Fertiliser .’. 0 17 0 Dunlop Rubber Mount Lyell (4)'..... 0 10 10 12 6 4 0 2 4 8 5 Alexander Mines, cont. 0 15 6 — Bell Hooper, 9d paid .. 0 0 11 — Ditto, 1/- paid .. ' Ditto (2) 0 O 10$ , 0 0 11 —— Gillespie’s Beach (3) v: -0 2 0 —• Golden Point 0 0 3 —— King 1 Solomon 0 3 li —~ 0 10 : New Cornish Point .,. 0 0 11 — 0 9 3 ■ ■ ’ Ditto ............ 0 9 2 — Ditto 0 9 1 •— i Walhl G. Junction .. 0 4 4 7 13 10 Sale reported— ;> 0 10 10 Dunlop Rubber ...... 4 0 8 . DUNEDIN. £ s d £ s d Goldsbrongh Morf ... *1 13 1 1 10 3 Comm. Bank of Aust. 0 17 10 2 16 1 Union Bank of Aust. 9 15 0 2 11 3 Wilsons Cement 16 3 3 16 2 1 17 O 3 15 8 N.Z. Refrigerating ... O 19 11 3 18 Southland Meat, ord. . 3 10 8 Waltahn 0 5 5 — *Late sale Monday.

Dec. 10. N. York. dol. to £ 5,085 Dec. 9. Par. 5.15} 4.866 . Montreal, dbl. to £ 5.04 5.08 4.866 Paris, £r. to £ 83 13-32 82 21-32 124.21 'Brussels, bel. to £ 23.495 23.575 35.00 10 88 16.91 25.225 Amst’dam, fl. to *£ , 8.12 8.4 12.107 ■Milan, lire to £ 62 3-16 62.25 92.46 Berlin, inks, to £ 13.70 13.725 20.43 St’holm, knr. to 19.30 19.39 18.159 C’hagen. knr. to £ 22.40 22.40 18.159 Oslo, knr. to £ 19.90 19.00 18.159 Vienna, schgs. to £ 30 30 34.08’) Prague, knr. to 110 110.375 164.25 Hel’fors. inks, to £ 220.50 220.50 193.23 Madrid, pes. to £ 39 31-3: ! 40.125 43.225 Lisbon, esc. to £ 109.75 100.75 110 Athens, drach. £ 570 582.50 373 Belgrade, din. to £ 240 — 276.31 Bucharest, lei to Warsaw, zloty to £ £, 550 550 , 813.60 43:38 Rio de J., p. to mil. +71-8 +41-8 ’3.890 B. Aires, p. to peso +35J +35} , 47.62 M. Video, p. to peso +35} +351 51 Calcutta, p. to rup .18 1-32 181-32 18 Shanghai, p. to dol. 1511-16 loa-b —— H.-Koug, p. to dol. 17i 17 3-16 Y’hama. D. to yen 14 7-16 14 7-16 24.582 Batavia, fl. to £ 8.06 8.09 12.107 fSellers. official.

cabled Dec. 8. Per ton. Dec. 11. Per ton. Conner— , ' Standard, spot ... . £ s d 30 2 6 £ s d 30 7 6 Standard, forward 30 5 0 30 10 7{ •Electrolytic 33 5 0 33'10 0 to 33 15 0 34 0 0 Wire bars 33 15 0 34 0 0 Lead— 11 8 0 11 8 9 ■ Spot 11 13 9 11 7 0 Spelter— 14 17 6 14 15 0 Forward 15 2 e 14 18 9 TinfSpot 227 8 9 228 8 9 ’ Forward 227 8 9 228 8 9 SilverStandard, per oz. 18 9-16d 18 5-8d Fine 20d 20 1-80 , {American, 53. •American, 8 25 cents a cents a lb. Lb.