FINANCE and COMMERCE

Dominion, Volume 27, Issue 146, 17 March 1934, Page 10

FINANCE and COMMERCE

STOCKS AND SHARES Active Demand Yesterday A FIRM MARKET Indications of greatei- activlt.y in the Wellington stock and shave market wet* disclosed yesterday by the <|Uotftt 1 5 , ' 1 2 list. Prices were generally Aim. ano there was a fair amount of trading. Government loann were strong on an active demand, milers’ quotations show ins fnirlv wide marginn. Ilnrsl advance bonds «01d nt £o* and 8| per cent. stock. 1030-43. at £lOl, both ex interest. Hanks allowed little change. nial of Australia were done at 17/1 an I New Zealand at 48A. dnjurafice rtiaw were definitely strong, New Zenlattda being traded at 57/0 and South Srltrnh at TS/U, Qunenwlnnds were wanted nt Go/-. No marked change was seen "LVl’Ti sections. Wnlhls moved «P tn a vale nt BV7, and more were wanted nt 31/«. ■ The Wellington Stock Exchange wii he closed to-day and will reopen for ntw> nftes on Monday morning. WELLINGTON STOCK EXCHANGE Yesterday’s Quotations rtiivmg and wiling quotations nt yesterdiiy'S final call On .the Wellington Stock Exclinnga were as follow:--

Government Stocks By Telegraph.—Press Assn.—Copyright. London. March 10. Quotations of Government stocks On the »>ofidon Stock MXchango compart with tnoso of a week ago us follow:—

Th* wash-up at the King Solomon mine for the week was 114 oz, 7dwf, says ‘ A Prase Association message from Invercargill.

THE MONEY MARKET Bank of England Return BANKERS’ DEPOSITS HIGH F!y Telegra fill.-Pres* As.<h M.’oMflght London, Match 15. 'rim Brink nt nneiami roiurn for tim week ended March 14 Is as follows:—

Proportion of ronervo to nanmueß. pfcr cent,, compared with 01.70 ptr cen . I'hr‘prliiclpat items 6t the rthOVC f«turn compare aa follow with those of last

Short Loans and Bids. The Bank of England rate of < lisc W'; was reduced to 2 per cent. aS frOnl June loans are glinted at 7-S pct cOnt.. the Blitnu as Iftst week. ■ The market rate Of discount for best three mOiiths bills is 29-32 per cent., compared with 31 3per cent, last week. DEALINGS ON CHANGE Yesterday’s Sales

The following sales were recorded yesterday vu the stock exchanges men-

SYDNEY STOCK EXCHANGE Market Generally Firm Bv Telegraph.—Press Assn.—Copyright (Received March 16, 8.45 p.tn.) Sydney, March 16. On the Sydney Stock Exchange to-drtj, gilt-edged securities were in strong request. but in general industrials t and classified shares trading Was restricted, ns buyers were not disposed to do business at the prices sought for leading issues. Mining concerns were active. Sales: Bank of New South Wales, £34 10/-; Commercial Bank of Sydney. £18: Howard Smith. 15/9: British Tobacco. 38/6. _ Tooths, 44/-: Tooheys. 27/4}; Dunlop Perdriau. 19/4J; Coldsbrougli Mort. 33/6; Electrolytic Zinc, pref., ex dividend. 34/-; Lustre Hosiery, 24/3: Meggits. 20/6; Australian Provincial Assurance, 11/-. Mount Morgan. 21/9; Broken Hill Proprietary, 46/-; South Broken Hill, ex dividend, 71/6; Biilolo Gold. £6/19/-: Kuala Kampar. 14/6. *■ Commonwealth bonds, 4 per cent., 1938. £lO4/5/-: 1941. £lO5/5/-: 1944. £lO7/10/-! 1947, £lod/7/6: 1956. £lO6 10/-; 1951 £lO6/15/-; 1955, £lO6/16/3; 1907. £lO7/2/6: 1959. £lO7/3/-: 1961, £lO6/5/-. Morning sales included: Common? wealth bonds. 4 per cent., 1938. £lO4 3/9: 1947, £.105; 1061< £IOO/3/9, £lO6 5/-; Bank of New South Wales. £34 15/-; North Shore Gas, 25/-; Tooths. 44/6: Associated News. 22/-, pref. 22/41: Dunlop Rubber. 19/4; Goidsbrough Mort, 33/71 1 Wlnchcombe Carson. 30/-. Melbourne, March 16. Sales on the Melbourne Stock Exchange to-day included: Commercial Bank of Australia. 17/-; National Bank of Australasia. £5 paid. £6/10/6; British Tot bacco. 38/3; Herald and Weekly Times, 52/-: Goldsbrongh Mort. 33/9. The Bell-K.ilgour Company wash-UP for the week ended February 16 amounted to 48 oz. 8 dirt, from devel6pnjent work, Aay» a Press AssoeiAtion message from Dunedin.

butter very firm Nev/ Zealand Active at 72/CHEESE MARKET STEADY By Telegraph-—Press Assn.—Copyright. Landon. March 15. The butter market is active. Danish. 00/- to 02/* per cwt., choicest saltedl New Zealand 71/- to 72/-, Australian 69/- to 70/-: unsalted is the same price. Tim cheese market is slow. New Zealand, white 43/0 to 44/- per cwt., coloured 44/- to 44/6; Australian, coloured. 42/6.

Joseph Nathan and Co., Ltd., have received the following report from TrCfi* grouse and Nathan. Ltd., London, dated March 15;—New Zealand butter. (2/* per cwt.,- very firm. New Zealand cheese: White and wlotirerl. 44/- per cwt.; Steady. The New Zealand Loan and Mercantile Agency Company. Limited, have, received the following advice from their London house, dated March 15:—Butter: New Zealand choicest snlted. <2/: per cwt.; market firmer. A. 8. PatcrsOii and Co.. Ltd., received cable advice from J. and >1 Lonsdale and Co. (London). Ltd., as followsßutter: Market firm. New Zealand. 72/*. Australian. 70/*. Danish. 69/* f.0.b,; 90/* landed. Cheese: Market quiet. White. 43/6 to 41/* i coloured, 44/- to 44/6. Cabled advice received by Mt. G. A. Milla from A. J. Mills and Co., Ltd., London. givCs the following market price? ns ruling at the close of business Oh Thursday Putter: The market is firm. .New Zealand, finest, 72/*; firsts, 71/*; ttnsaltcd, 71/- to 72/-. Danish, 90/*. Danish, f.0.b.. 63/*. Australian, choicest, 70/*; first grade. 69/-. Cheesei The market is steady. New Zealand, white, 43/6 to 44/-; coloured, 44/* tn 44/0. Canadian, white and coloured. 62/- to 54/*. Srtmtiel Page and Son, London, report to Dalgetv and Co.. Ltd., under date March 15;—Butter i Market firm. Danish butter. 88/- to 90/* (97/- to 98/*);, New Zealand, finest snlted. 71/* to 72/* (68/- to 69/-: Australian, finest unsalted. 68/- to 70/* (68/- to 70/-1: finest salted. 68/- to 70/* (06/* to 68/*); Australian, G.A.Q., 64/* to 66/* (62/* to 64/*). Cheese: Market firm. New Zea* land white, 43/« to 44/* (42/-); coloured. 44/- (43/-): epot price for Canadian white, 32/- to M/- (62/- to 54/-); coloured, 62/* to 56/* (52/- to 54/*). Last Week’s quotations shown in parentheses. BASE METALS MARKET Copper and Tin Prices Lower By Telegraph—Press Assn.—Copyright, (Received March 14, 8.45 p.m.) London. March 15 The official London (middle) quotations' for Thursday, as reported by the Australian Mines atid .Metals Association, compare as undef with those previously

FOREIGN EXCHANGES Position of Sterling By Telegraph.—Press Assn.—Copyright London. Marell 15. The following rates on foreign exchanges were current to-day. Compared With those ruling on March 14:—

Gold and Sliver. London. March 15. Gold.— £ll/1(5/4 per fine ounce. Silver.—Cash, 2’o 5-Sd. per ounce; forward, 20 11-lGcl. Dollar Conversion Rates The Associated Banks have agreed ‘hat conversion ratAs from March 19 will be: U.S.A. Canada Conversion of dollar bills received for collection and i. sale of dollar drafts .. 4.99 5.00 Purchase of dollar bills .. 5.19 5.20 These conversldn rates are. of. course, quoted on a Sterling basis (London funds) find current rate of exchange New Zealand on London will be charged or allowed as the case may require London Tallow Market A. H. Turnbull and Co. have received a cable message from their principals, IV. Weddel and Co.. Ltd., dated London, Mhreh 14. reading- Tallow market unchanged. At tallow auctions to-day’ 703 easks were offered, of which 13 were sold. Golden Dawn Mine Golden Dawn yesterday reported to the Wellington Stock Exchange that for the 12 working days ended March 10, 272 tons was treated for £oo3, exclusive Of the premium on gold And Oicbaage. Melbourne Produce Prices By Telegraph.—Press Assn.—Copyright Melbourne, March 16. Wheat: There is more bunineso. with sellers easier and parcels nominal. Prices, 2/6 to 2/6} per bushel; shippers. 2/4 on trucks. Williamstown flour i» dull at £7 per ton. Bran, good business at £4/5/-. Pollard, steady. £4/15/-. Oats, steady tone; millihg, 2/2 to 2/2} per bushel: feed. 1/11 to 2/-., Barley, quiet; malting. English. 2/7 to 2/9:. Cape. 2/4 to 2/4}. Maize, weak, 3/6 to 3/7. Potatoes: Weak owing to poor quality, medium, £3 to £3/10/- per ton; prime. Onlonk: Steady; Globes, 32/6 to 85/-; Spanish, 87/6 to W-,

BUTTER EXPORTS Large Increase to Britain DOMINION SHIPMENTS During the seven months of the 1933-3-4 dairying season ended February 28, 91,394 tons of butter were exported from the Dominion. This represents an increase of 15.607 tons, or 20.59 per cent., on those for.the corresponding period of 1932-33. Of the total exports, 90,336 tons, or 98,54 per cent., went to Great Britain, and only 1058 tons, or J.lO per cent., to Other markets. Shipments to London alone were 71,122 tons, or 77.81 per cent., of the total exports, and represented an increase of 13,427 tons, or 23.27 nCr cent., over those for the corresponding period of Inst season. Shipments to' West of Britain ports increased by 2478 tons to 19.214 tone. Exports of butter last month were 14.694 tons, compared with 11,564 tons for February, 19,3,3, nrt increase of 3130 tons. The following tabic compares butter exports for the seven mouths ended February with those for the corresponding period <T 1932-33: — 1933-3-1. 1932-35

ChOasO Exports Steady. Shipments of cheese last month were 10,499 tons, compared with 11,394 tons for February. 1933, a decrease of 89*5 tons. Fol- the seven months ended February tlie cheese exports totalled 58.562 tons,* compared with 57,482. tons for the corresponding period of 1932*33. an increase of 1080 tons. Great Britain is practically the only market for the Dominion’s cheese, as is shown by the fact that only 53 tons of the total exports went to other countries. The exports for the seven months coU)-

Australian and Argentine Exports, Australian shipments of butter to Britain last month were 10.625 tons, Compared With 10.649 tons in February, 193.3. For the seven months ended February, Australia's butter shipments to Britain totalled 68.818 tons, compared with 69.3.35 tons for the corresponding period of last season, a decrease of 517 tons. Cheese exports from Australia (0 Britain for the Seven months wore 3064 tons, compared with 3907 tons, a decrease of 843 tons.

Shipments of butter from Argentina to Britain for the seven months were 4303 tons, compared with 7880 tons, a decrease of 3577 tons, BRITAIN’S DAIRY IMPORTS Large Increase in Butter According to the latest returns received hr the Dairy Board, imports of butter into Great Britain from all sources during January and February totalled iib less than 84,490 tons, compared with 68,580 tons for the corresponding two months of last yfear. an increase of 15,910 Empire imports increased by 11.632 tons to 55.772 tons, and imports, from foreign countries increased by 4278 tons to 28,718 tons. The detnilol figures of Britain's butter imports during January-February for the last three years compare as follow :—

The exports of butter from Britain last month totalled ,827 tons, compared with 362 tons for February, 1933. Britain’s imports of cheese for Janu-ary-Februftl‘y for fho last three years compare as follow :** **

WITHDRAWALS HEAVY Progress' of London Sales By Telegraph.—Press Assn. —Copyright* Ijuidon, March 15 Offerings at the wool sales to-day were 10*381 bales, including uI4S New ZealarirL Sold 47'22 bales. The offerings Were chiefly crossbreds, which met with a quieter demand. Withdrawals were fairly numerous, blit generally prices were unchanged. , New Zealand greasy crossbred, Pnktra, Sold 144 d. highest, and 10d. average. Halfbred lambs slipe. Eclipse. 17d. highest. 10 7-Sil. average. Bradford Tops Firm By Telegraph. —Press Assh.—Copyright. London. March 15 The Bradford tops market has a firm tone in sympathy with the hardening tendency of the raw material. To-day’s quotations compare with those previously cabled as follow:*—

Record Price at Brisbane By Telegraph.— Press Assn.—Copyright Itrislguie, MAreh 16Tim lop prices at the wool sales Were greasy 22id>, scoured 49}d., the latter A record Australian price this season. The value of the wool sold during the series Is estimated to be over £1.000.000.

FROZEN MEAT TRADE London Lamb Market Firmer MUTTON AND BEEF EASIER Lambs: There is a fair demaud; the market is inclined to become firmer. Wethers: The market is dull, with a downward tendency. Fives: The demand is moderate, witli prices a little lower. Beef: The demand is affected by low prices of chilled beef. Pork: The reduction in prices lias improved the demand. Trade generally is affected by heavy Supplies of Argentine meat. The above cabled report, dated March 15, has been received by Henry 8. Fitter and Sons Ltd. from their London office. Prices are quoted as follow: — New Zealand lambs: 2’s, 7Jd. to 7}d.; B’s, to 7d.; 4’fe, 6 5-Bd. to 6 7-Bd. Secondary lambs, 6 7-8 d to 7 l-Bd. New Zealand mutton: Small, 5 l-Bd. to 5 5-Bd.: large, 4M to sd. New &aland ewes: small, 4 1-B<l. to 4 3-Bd.; large. 3 l-Bd. to 3 7-Bd. New Zealand beef: Ox hinds. 3d. to 31d.: fores, 2d. to 2id. Argentine chilled ox hinds, 4d. to 4|a. Argentine chilled ox fores, 34d. to 3|d. New Zealand pork. s]d. to s|d. Australian lambs, 64d. to 6}<l Argentine lambs, 6d. to 6jd. Lflfflb, par to id. higher. . Wethers, jfl. to 3-Bd. lower. Ewes, l-Bd. to id. lower. Lamb market firm but quiet. Mutton and ewes market weak, with downward tendency in consequence of heavier arrivals. Beef, l-Bd. lower. This report was received by M, A. Eliott Ltd.. Palmerston North, from Gordon, Woodroffe and Co., Ltd., London, who quote Smithfield "delivered” prices as follow: —Best North Island prime lambs, under 361 b., 7|d.; 361 b. to 421 b.. 7d.; 421 b. to 501 b.. 6}d. Ordinary North Island lambs, under 421 b., 7id.; second quality, under 421 b., 7d. Best North Island wethers and/or maiden ewes, 481 b. to 561 b., 54d.: 561 b. to 641 b.. 5Jd.; 641 b. to 721 b.. 5d.: over 721 b.. 56 Ordinary North Island wethers and/or maiden ewes 481 b. to 561 b.. 5 3-8 d : 561 b. to 641 b.. 5 .3-Bd.; 641 b. to 721 b. 4 7*Bd.; over 721 b., 4 7-Bd. North Island ewes, under 641 b.. 4 1-86.; 641 b. to <2lb.. B|d.; over 721 b.. 3|d. Nett* Zealand prime Ot beef (equal fores and hinds). 1661 b. io 2201 b.. 2 5-Bd. CHILLED BEEF Shipment in Port Chalmers By Telegraph.—PresS Association. Miistertoii, March 10. The third experimental shipment of ciiillOxl beef by Borthwick and Sons Ims now taken definite shape mid killing operations are at present under way nt the iVaingnwa 'The consignment Will consist of 1200 hindquarters and will leave Wellington next Friday in the Commonwealth mid Dominion liner Port Chalmers. While this shipment was experimental, ML P. Borthwick said, they wCi-e slowly departing from that Stage and approaching a point where shipments Of chilled beef from the Dominion could be regarded as a commercial proposition. FEILDING STOCK SALE Breeding Ewes in Demand Dominion Special Service. Feilding, March 16. With 8000 to 9000 sheep yarded and a. larger proportion of stores, prices Were easier at to-day's sale, though this was mainly owing-to lack of quality. Breeding ewea were still in demand, and for two-tooths of good quality the market remained quite keen. There was a very good inquiry for store lambs. The fat lamb market remained good at the recent high prices, with fat ewes and fat wethers slightly easier. There was a heavy yarding of store cattle, with gOod prices all round, Fat cattle had a small ynrdiiig, With no alteration in prices. The dairy cattle market was iii\ as. Fat sheep: Prime fat lambs. 26/9; good. 20/* to 23/9; light. 19/2; Inferior. 14/2; heavy prime wetheiw, 23/6; light, 18/7; prime ewes. 21/1; very good. 18/to 19/-: lighter. 17/1: S.D. rams. J to 3gns. Store sheep: Woolly lambs. 11/6: wether lambs. 16/2; ewe lambs. 15/3 to 16/-; black-face lambs. 15/8 to 16/3: white-face wether lambs, 14/7 to 15/-: whlte-facos good 15/1 to 16/*; inferior, 9/4 to 12/5; Wethers; 22/3. Breeding eweO: Two-tooths, good. 30/1 to 32/-; others from 16/- to 27/0; fbur-tooths, 27/- to 27/2: four and six*tooths 21/11; four mid six-tooths to fotir-year. 28/8; four-yenr. 20/- to 20/4; five-year. Very good 27/-; others 16/- to 17/9 . four and ! five-year. r.w. S.D. ranis. 18/6 to 20/9; ni.n. eWes, 6/1. Store cattle: Bulls. 30/- to £6; P.A. buliocU £4/19/-; P.A. Steers. £3/15/*; very goo-i steers. £5/8/*: other lilies of steers. £3/7/- to £4/6/-: TCP. steers. P.4/-. Store Cows to £l/18/6: heifers, £2 Fat cattle: Vealer«. 29/* to £2/7/-; heavy fat cows to £9/7/-: light prime. £2/10/- to £2/18/-: light fat heifers. £2 13/-. Upper Hutt Sale At the Upper Hutt sale on Thursday D.-ilgety and Co., Ltd., offered a small yarding of sheep and a large entry of cattle. Prices were as follow: Fat wethers,24/*; fat eweo. 18/9; f.m. ewes, tt'ethers. 24/-; fat owes, 18/9; f.m. ewes, 1.3/7; mixed sex lambs. 16/8 • one-shear Southdown rams. 2|gim.: fat cOWa, £2 10/- to £9; two-year-old s-teers. £2 to £3: vcnlers. £2: store cows. 15/- to 20/-; 18month empty heifers. 35/- to £2/2/5 •. 18month heifers r.w.b. 95/- to £2/2/6: heifers just calved. £9 to £4: springing heifers. £4/16/- to £5/2/6. Masterton Sale At the Masterton sale Dalgety and Co., Ltd., offered n fair entry of .Sheep. There was a keen demand for good lambs. Good shorn w.f. Wether lambs, 16/4 to 16/6; good woolly b.f. lambs, to 18/4; smaller sorts, 8/7, 12/9. 14/1, 14/4; light fat ewes. 16/6: forward ewes. 14/-: store ewes. 11/9. Wellington Poultry Market Prices of live poultry in the Wellington market this week are quoted by Townsend and Paul Ltd. as follow Fowls.—-White Leghorns: Hens. 1/8 to 2/- each : cockerels. 2/- to 2/9: pullets. 3/6 to 4/-. Black Orpingtons: Hens (heavy). 3/3 to 4/6 each; hens (med.), 2/3 to 2/6: cockerels (heavy). .3/6 to 4/-; cockerels (med.). 2/- to 2/6. Ducks.- —Indian Winner: Young. 2/3 to 2/6 each: old. 1/9 to 2/-. White: Heavy. 3/3 to 3/9. Geese: 4/- to 5/- each. Turkeys: lOd. to 1/- per lb AUCTION DIARY TO-DAY. Rooms. Rangitikel St., Palmerston North, 11 a.m.—Feilding property (A. & W. Ltd.). It Parkvale Rd.. KarOrl, 1.30 p.m.—Furniture (Lampton Auction Rooms). Tuesday. “Homestead," Kimbolton—Clearing sale account 11. B. Doyle (Dalgety & Co.). IValpiikurau Saleyards.—Account Kelly and Houston, Sfcers and Bullocks (H.B. Farmors’ Co-op.). Taumarutiul stock sale, Il a.m. (A. ahd W. Ltd.). , i Levin Salo (A. * W. Ltd.)

N.Z. GOVT. IOANS. Biirers. Sellers. s s. d. £ R. (1. 4 p.C. BotitlA 1040 .... 102 0 0 102 7 0 4 p.c. ditto. 1040 .... 101 10 0 4 p.C. ditto, 10’0 .... 102 0 0 4 p.c. ditto. 1053 .... 102 0 fttirid Advance fidnd f!’O 10 0 fl 08 10 0 31 p.C. ln«. Stk.. 1030-43 +100 17 ?,1 p.c. ditto, ionn-r.2 .. 101 in 3( P.O. ditto, 1938-43 . not 0 rt I; 0 —. al p.c. ditto, 10.38-52 .. 101 10 4 P C. ditto. 1040 .... 10t If 0 (1 102 0 4 p.c. ditto. 1040 .... 102 5 4 p.c. ditto, lOGu .... 10" 0 BEliENTURES. Wgtn, City.. 4t p.c., 1043 101 10 Ditto, 1037 < Folding. P-c., 10W . - woitomo E.P., 0 P‘C" 1043 " 0 0 103 "6 0 0 1(11 102 101 2 10 0 6 0 0 Eastbolirne, 44 p.c.. 1952 *- 6 100 10 0 Wellington Gas Co. . 103 1WrljfhL Stephenson. 03 0 Amid.Brick and Pipe, W Auckland “ 0 0 Ditto. Wellington .. — 0 BANKS. •13 \ 11 f' 11* Jt 10 R 6 Control, of Aust., ord. 0 10 Comrcl. BaUkg. CO., 11 0 IS 17 1 Svdnev . 17 12 6 0 0 Ting.. Scot, and Aust. .5 13 National Of AtistrnlnBin, G 13 R — £ 1(1 paid — Ditto. £5 paid 0 8 0 9 10 G New South AVales ... — 34 7 8 G 0 5 Ditto. "D" long term 1 13 0 10 Union ot A list. ...... 10 4 0 7 0 FINANtlAE. Abraham and Williams, fl 3 0 0 Ditto, pref 3 15 o — Dalgcty and Co 10 8 6 I4*M Goldsbrotigh Mort and Co. ............... 1 13 N.Z. Guarantee Corp. 0 4 3 1 13 9 0 0 4 1 N.Z. Invest., MOrt find Dennsik 0 5 3 N.Z. Loan and Merc., 0 ord. stock ........ co 6 N.Z. and Rivet Plate " 1 4 0 Wgtn. Trust, Doan .. 4 10 0 General Finance .... — 1 0 0 GAS. Wellington, ord. ...... 1 10 6 1 17 6 Ditto, prof 1 4 0 1 5 3 INSURANCE. 11 Aunt. Pfov, AfiSCe. National of N.Z 0 18 0 3 8 New Zealand 2 17 (I 2 18 6 Queensland . ......... 3 fi 0 — 6 ■ ii M MEAT. Oerif Merit . 1 s 0 N.z. Refrig., £1 paid o 17' Ditto, 10/- paid ... 0 8 4 2 0 8 3 Southland 3 1 0 Wgtn. Meat Exp., ptef. 0 19 ' 0 TRANSPORT. 0 Union Steam, pref. 15 wooixen. Kalupot 0 10 1 0 0 1 •— Ditto, aontrib. 0 0 2 10 0 Timber. Kauri 0 17 3 0 18 0 r.eylttnd-O'Uflen ...’. 1 1 11 1 3 G Tflfiiiganiutu Totara — 0 7 0 lliitfilil .............. — 0 5 0 breweries. G - N.Z. BrfiWerids * 1 19 0 2 0 3 staples and CO — 1 7 G Till . — 2 10 0 MIBCEEEANEOUS. British Tobacco. Aust. *1 IS (1 Btiriis, Philp and Co. 2 15 d 85 Colonial, Sugar — 10 0 Cut pml. Brick tliid Pipe 0 7 0 £_C De; (III & MediCal Slip. 0 (1 0 Jiuinlnloii Fertiliser , 0 17 6 Duiuinlon InvcstmentB 1 10 0 — D.I.C.. ofd d 14 0Dunlop I’Ordrifitl .... — 0 19 6 Electrolytic’ Zitid. 6rd. 1 6 (1 1 (1 9 Howard smith, ord. ,, *o 15 N.Z. Farmers* Fertiliser 8 0 15 3 J— tt j'festige, N.Z,, pref. ,. 10 O £ljrifl:ifld & Co., ofd. 1 4 0 1 1) 0 Wgtn. Qtfeeii'R Theatre — 1 1 0 Wlilteun’ic and Tombs 3 8 G WIlHojiu Cmnulit ii.141 1 5 9 —J Wool Worths, N.Z.. ord. 5 o 0 Milburn Llino ....... 1 0 9 OH.. 0 2 MINING. Bell Kllgour 0 0 Big River 0 0 !> 0 1 0 (•;.. teal sbotover .... 0 1 0 (1 1 u CuiimoI. Goldfields .4.4 o 18 (Mliespiu’B Ut’rich .4.. 0 2 0 1 0 0 0 4 Golden Hunds ....... — 0 0 2 I King Solomon ...... *0 4 0 4 3 C Mount Lyell * — Nbkutnfll 0 1 1 4 3 0 1 10 G Ditarito *0 di II 0 0 wnini .... 1 ii H ----- Wai hi Grrind Junction 0 4 Brian Born ........ 1 11 u ‘Cum dividend. fllx Hvidem Unofficial List Buyers. Sellers. £ s. d. s. d. Invest.. Efiec. Trust. doh — •90 10 u Ditto, first "B" dob. - •101 0 0 Ditto. 2nd “B” deb. — •93 0 0 WoulWorthR. Ltd., ord. 5 10 0 5 1(1 0 A/asifi Forestry Bonds, 27 10 •Cum interest.

Price. £ a d Variation £ 8 d Consols, 2J p.e. 80 10 0 Fund, Loan, 4. 1900-00 113 10 0 War loan. 34 after same same 1052 103 10 0 same Conv. Loan. 34 p.e. .. 102 15 0 same Victory Bonds. 4 p.c. 110 10 o 0 5 O’ (."wealth, 3, 1045-75.. 110 18 0 0 1 S’ (."wealth, fl, 1031-11 .,103 o o 0 5 O’ C'wealtll, 3}, 1037 ..,. 102 2 fl 0 2 nt Victoria, 3, 1029-10 .. 05 0 0 0 5 Of Victoria, 3f, 1020-49 .. OS 15 0 1 0 Ot Victoria, 54, 1030-40 ,.100 0 0 Victoria, u. 1932-42 ,.100 7 6 satde name Victoria, ■!}, 1040-00.. 107 3 9 0 1 a* N.S.W., 3. 1035 100 18 0 0 1 87 X.8.W., 3), '1030-i50 90 12 6 0 1 3* QTan<1. 5, 1910-CO ... 107 0 0 0 3 lit Q'land. 3, 1922-47 ... 93 2 0 0 7 0* N.Z., 44, 1048-08 .... 107 12 fi same N.Z., 34. 1910 102 2 0 0 2 b* N.Z.. 3. 1015 07 . 0 0 o'aine N.Z., 6, 1930-51 100 1(1 3 0 3 O’ S. AUSt., 34, 1039 .. 101 12 8 0 3 !)• s. Aust., 3.4?>18 or after SOI) 1' 2 lit, Ta sol., 3}. 1020-40.... 101 15 0 same Tasm.. 3, 1920-40 00 0 0 W. Aust., 34. 1020-35 102 2 0 0 5 0’ same W. Allst., fl, 1915’35., 101 15 n •HJIehon ♦Lower, 0 5 O’

Issue Department. NoteM i$Hued ‘ £ Govt, debt 11,015,100 in clrcd- , n>A . K ] At ion 360,632,045 Other Govr. HfcurltioK 244.880,310 in batik- , , iilff <l<*|»r 81.347,204 Other securities Sliver coin 567.671 0,530,910 •£200,000,000 Gold coin & bullion 100,079.33!) i-.| .’•■0.079.330 £4.10.079.339 *.\nidiint or fiduciary issue. liahklng Department. £ £ Govt securities 7S.504.732 W = 12,244,317 DlsctH., advances 5.020.840 {AefS 111.733.031 Other a/cs 36.101.4ua Seven-day. < „ o „ etc., bibs l»l>29 Ollier securities Notes Gold & silver Coin 11.705,197 .81.347,204 1.041,581 ■ £178,318,644 £178.318.014 vn to liabilities. 51.40

woelt ■ Mlir. 7. .Miir. 14. Deposits: Public Milkers ... • • Other rtCcOtlilt* & .. ‘21,811.071 .. 99.737.518 . 80,8'3,919 12,244.317 111,735,031 30.101,433 £138.122,601 £100.080.783 Securities . * v f . ; . Government ... (OJ-OJo-DlsciS., fidvnnccs *.800.140 Other securities . I. 2 -”- 9 ; 4 ., ‘ Reserve »5no?os"’ Noto clruulntlon .. 470,219.8*3 Gohl coin * bullion 10G.07D.3...0 78.504.732 .3,029.810 1..705.197 82.388,875 309.032,043 100,970.339

tiOfled ’ WELLINGTON. d. £ 8. Rural Advance Bonds, ex inf. 9, <1 u Inset 1 . j stock, nJ p.c., 1039-4.1 101 0 0 Commercial Bank of AUst 0 17 1 Bank of N6W Zealand * N.Z. Guarantee Corpn, ... . 8 0 4 1 0 Insurance ...... 3 13 n 2 0 1 11 7 AUCKLAND. £ 8. d. Rural Bonds, 5 p.c., low 91 9 0 Inser. stock, 3} p.c., 1939-43 («) 101 0 0 Aucki Power Bd«, of p.c., 1916 (2) Bank of New South Wales 105 0 0 34 3 Bank of New Zealand 2 4 South British Insurance (2) ... 3 lo 0 standard insurance 3 0 0 Farmers’ Auction, B i>re£. ...... Grey Valley Collieries 0 10 0 0 10 0 0 1 0 Ditto, contr. 0 18 4 64 10 Farmers’ 'Trading, A pref 0 HI 3 0 10 0 0 4 2 0 1 8 iVaihl (2) 1 11. 9 Nlininrt House Concess. , 0 ■JIodnHght Nelson Creek ........ o 1 3 Unofficial List— 90 0 Invest, liXec. Trust, 2nd B deb. 0 Skipper.*. 1/- paid 0 Ditto, 9d paid OHRISTCHURCH. £ 8. d. Commercial Bank Of Australia .. 0 17 0 Bank of New Zealand 7 10 0 10 11 1 13’ e NAL Refrigerating, 10/ ‘ paid (3) 08 4 0 0 17 5 Ditto ■ * 1 - > • • • • - * » • 0 17 Q Dlltiiop (5) ............ 0 19 4 Ditto ' J 0 19 a Electrolytic Zinc, ord. .......... 1 0 8 1 6 7 Ditto. preference, .......... 1 14 0 0 0 I It 8 0 2 OOldfleids Dredging, lA-paid .. II 0 ip 0 4 3 TUffn (2) 0 4 2 Moonlight Nelson Creek 0 0 0 1 0 2 ‘JI Itawang Tin, cum div. (2) 4 di 1 11 3 Sales reported--Inset*, fctdck* 3J p.c., 1&3B-43 (odd 101 10 0 Commercial Bank of Aiist 0 17 1 Gdldshrough Mort 13 N.Z. Iterigerating, id/- paid .... 0 8 1 7 Dominion Fertiliser (2) 0 17 tl nicetfoiytie zinc, pref 1 14 7 Henry .Tones co-op 1 14 9 UnofHeial 0 91 0 Ditto 0 0 10 Hun Newspapers, 10/- paid •••» 0 0 Wares Invest. Trust ♦Late sale Thursday. 0 4 0 DCN1WIN. £ R. d. 1 11 0 1 If fi Bell Kilgour 0 I) 8

cabled .Ma r. 14. .Mar. 15 Pc r ton. Per ton. Conner— « H. (1. £ 1 Standard, spat .... 32 16 3 32 fl 8, Standard forward 32 0 71 32 9 4 J •Electrolytic Sfl fl o 35 10 0 to 30 10 0 36 0 0 3(1 10 0 36 0 'J Lend— Spot 1(1 12 (5 11 11 3 11 17 6 It 17 0 Spelter— Spot ...... It 15 0 14 15 0 Forward ........ 15 2 6 15. 0 I) Tin— fS.pot 2.3(1 1 3 231 Id 0 irn “ward 231 IS 0 1'1)3 2 11 Silver— . Standard, per 6z. . 2A d ■8d. 20 5-8d. Fine • • • • 221(1. 22}d. •American. 8 colitri a lb. fAriiGrlCAn, 53.90 Ctfnts it lb.

N. York, dol. to £ Mar. 15. Mar, 14, Par. B.WJ 3,10 4.800 Montreal, dot to £ 5.01)1 5091 4.866 Parts, ft. to £ 77 15-32 “7.50 124.21 Brussels, bel. to £ 21.805 21,875 33.00 Oofietd, ft. to £ 15.785 13,795 7.67} 25.225 ArtiSt’dnm, fl, to £ 7.57 12.107 Jfllart, lire to £ 5.9 13-32 59.50 92.40 Berlin, frtks. to £ 12.835 12.843 20.43 st’holin, knr. to £ 19.303 10.395 18.159 C’liagon. klir. to £ 22.40 22,40 18.159 Oslo, knr. to £ 10.90 19,90 18.15!) Vleillift. Sclifrs. to £ 28 28 J4.,jS5 I’fagtie, klir. to £ 122.73 122.75 104.25 Hei'fors, in«a. to £ 220.50 220.60 11)3.23 Madrid, pcs. to £ 37 7-10 37 7*10 2.7.225 Lisbon, esc, to £ lon.875 lOii.Stu iio Athens, drlieh. to £ •530 •530 3*5 „ Belgrade, din. to £ ‘.'70.31 813.60 BiichSfOst, lei to £ 310 Bio Warsaw, zloty to £ 27.00 43.38 itto da J., r>. to mil. 74 1-8 5.899 B. Aires, p. to peso Wj Moj 47.62 M. Video, p. to peso 733 1*33 18 3-32 51 Caicuftn. p. to rlip. 18 1-16 16 Sliatigliitl. P- to do!. 10! 10 9-16 — If.-Kong, p. to dol. 187*10 18J —— Y’tiama. n, to yen 14 3*10 14 7*32 24.582 Batavia, fl. to £ 7.155 . T.5B tSellfcts. official. ‘Sellers. 12.107

Tons. Tons. 71.122 57.61)5 AvOninoillll and Cardiff 4.340 1.288 4,010 8.340 5.805 +.082 Glasgow 5.0-17 3.026 2!)6 67 140 Pniiama .............. 2-12 480 .Tanialcn *Z*.? i *11 Other countries ... 232 283 Total tons . .. 81.30+ 75.787

pare as follow ■ — 1932-33. 11)33-34, Torts. Toil*. T.hnrlon 40.202 40.218 Avonrrioiith and Cardiff.. 3,fV>(5 3.035 Liverpool 2.020 2,30? MoflOhestet 2.942 2,.875 2,392 «5 Othei- conntflos ■ ........ 53 Total tons 58.502 57.182

1934. 1933. 1932. Toils. Ton ■!. Tons. Australia 25.414 21.226 20.708 Nery Zealand .... 20.931 22,107 23,147 Irish tfree State G9 83 191 Other British ctys. 358 034 Total Empire . 55,7*2 44,140 44,361 It u S Mil 1,305 410 145 Finland 1,011 1,410 1.913 Estonia «»« 301 80 96 550 211 15 Sweden 2,538 1,0(41 1,005 Deilmark 19,093 17,240 17,630 NethefiijOdS .... Argentine 340 302 229 5*4 HG 2.202 2,801 Lithuania 125 »i3 IS Other foreign ctys. .573 220 3il Total foreign »* 28,718 24,440 27,591 Grand total ... 84,400 08,580 71,955

1934. TdiiS. 1038. Tdiis. 1032. Tons. Australia ...... 1.734 2082 1.150 New Zealand ».• 22 ( fK>7 20,620 18,51.“ 5+8 181 (109 Other British ctys, 23 232 50 Total Empire .. 25,262 20,324 Netherlands ... 044 000 1.923 Ttnly , ,...s •.«4 S62 65S 1,1+1 Switzerland .... 107 8+ 102 Other foreign cty®. 143 136 27+ Total foreign .. 2,050 1.868 3,030 Grand total .. 27.318 24,080 23.854

Feb. 22 lb. d. Mar. 1. Mar. 8. Mar. 15 lb. d. lb. d. lb. d. 70’s .. 40 30J 40 40 O4’s .. 38 37* 38 38 CO's .. 36 354 30 36 50's .. 28 274 274 274 50's .. 204 20 20 20 40's .. 13 144 15 15 40’s .. 12 12 12 12