FINANCE and COMMERCE

Dominion, Volume 28, Issue 57, 30 November 1934, Page 14

FINANCE and COMMERCE

STOCKSAND SHARES Wellington Market Active YESTERDAY’S QUOTATIONS The latest buying and selling recorded yesterday on the AS ellingtou Stock Exchange were as follow.—

KOMATA REEFS GOLD MINE Interim Dividend Unchanged Dominion Special Service. Auckland, November 29. The directors o£ Komata Reefs Gold Mining Company, Limited, London, have declared an interim dividend of threepence a share, free of tax. The dividend is unchanged, and is at the rate of 25 per cent, per annum. Gold Mining Companies The Upper Shotover Mining and HydroElectric Co., Ltd., has advised the Stock Exchange Association that the directors have made a call of one penny per share on all contributing shares, payable ou December 15, 1034. The share register will be closed from November 29 to December 15, both days inclusive. At a meeting of directors of Worksop Extended Gold Dredging Co. held on November 27 it was resolved that a dividend of 10 per cent, on the capital of the company be declared payable on December 19. In a circular to shareholders in the Freshford Gold Dredging Company, issued by the liquidator on November 20, an intimation is given that a share is being paid back on every 1/- share held in the company. The dredge and plant were sold for £1025. An extraordinary general meeting of shareholders of Golden Dawn Gold Mines Ltd. will be held at Auckland on December 6 to consider a resolution giving power to the directors to sell the company’s mining property and plant. The meeting will also be asked to confirm the directors’ action in granting an option over the property and plant for a sum of £20,000 cash and shares to the nominal value of at least £30,000 fully paid-up in a company proposed to be formed in England to develop the area fully. AUCTION DIARY TO-DAY. M Boulcott St., 10 a.m.—Kurniahings (C. W tt Price).

DEALINGS ON ’CHANGE Sales Recorded Yesterday RETURN ON INVESTMENTS Sales recorded orf Dominion Stock Exchanges 1 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 rotes have not been taken into consideration. The return of 4 per cent. Government loans includes redemption. In the case of 3J per cent, loans the .return is for the interest alone, and covers only the period for which the loans are tax-free. WELLINGTON. llel‘l

SYDNEY SHARE MARKET Classified Stocks Strong By Telegraph.—Press Assn.—Copyright. (Received November 29. 8,25. p.m.) Sydney, November' 29. On the Sydney Stock Exchange to-day classified stocks, especially brewery and steamship issues, were. strong. but tralian Government securities were quiet as a result of the official suggestion made in connection with the closing of the recent £15.000.000 loan that interest rates had probably touched the lowest point This caused a sympathetic easing in gas shares. Sales: Bank of New South Wales; £33 2/6; United Insurance, £ll/6/-; Mercantile Mutual Insurance, 25/li; Australian Provincial Assurance, 11/2; Associated News, 25/6; W. R. Carpenter. 41/-; Australian Gas, A, £B/1/6; British Tobacco, 42/6; Hqward Smith. 16/-; Tooths, 51/-; Touheys, 2.8/9; Australian Glass, 62/-; Dunlop Perdriau. 20/-; Dal- : getys. ex dividend, £9; Winclicombe Carton, 2.8/6; Morris Iledstrom. 16/U;.Fairmead Sugar, 41/6. Mount Morgan, 36/-; Broken Hill Proprietary. 54/-; South Brokens. ,80/6. Rawang, 8/3; Placer Development. £23 5/-; Euratba Gold, 6/7, Morning sales included: Commonwealth bonds, 4 per cent., 1953. £lll 2/6; 1961, £lll/12/6; Commercial Bank of Sydney, £l7/18/-: Associated News. 25/74; Australian Gla<« 62/-; British Tobacco, 42/6; Broken Hill Proprietary, i>4/-; Dunlops, 20/-; Goldsbrough Mort. 29/101; Morris Hedstrom. 16/9 By Telegraph.—Press Assn.—Copyright Melbourne, November 29. Sales ou the Melbourne Stock Exchange to-day included: Commercial Bank of Australia, pref.. £10; National Rank. £5 paid. £6/4/-; Taranaki Oil. 6d.; Mount Lyell. 18/-: North Broken Hill. .£5/5/-. . ' WELLINGTON MEAT EXPORT CO Preference Dividend Arrears At the annual meeting of the Wellington Meat Export Company, Ltd., yesterday, the report and balance-sheet were adopted. It was stated in the report flint the directors intended to put before.preference shareholders a proposal whereby the postponed prefeence dividends and lli.it for the year ended September 30. 1031. might be liquidated. To allow this it was necessary for the ordinary shareholders to authorise a retransfer of profits from the appropriation account. The directors are taking authority to negotiate with the preference shareholders for a settlement of the outstanding preference dividends After providing £15.000 for depreciation for flic year ended September 30. there was a profit of £4160/10/9. which reduced the debit balance in the appropriation 1 ’econnt to £25.035/(i/3. Attached to th-’ balance-sheet was a note showing as a contingent liability, dividends on preference shares, £39,262/5/6. The retiring directors, Sir William Hunt and Mr. A, E, Mubin, were reelected. Mr. W. S. Whec'er was reappointed audtor. Australian Produce Markets B.v Telegraph. Press Assn. —Copyright. (Received November 29, 9.20 p.m.) Sydney, November 29. Wheat at country sidings is quoted at bagged 1/9, bulk 1/8, which is equal to about 1/4 ex trucks Sydney. Flour. £7/5/a ton. Bran. £5. Pollard, £5/5/-. Potatoes, Tasmanian, to £ll a ton; Victorian, £8; local, new, £lO. Onions, Victorian, brown, £8 a ton. . Maize. white and yellow, 3/3 a bushel.

RESERVE BANK Assets and Liabilities LAST WEEK’S CHANGES The seventeenth weekly statement of the assets anti liabilities of the Reserve Hank of New Zealand as at the close of business on Monday. November 26. is as follows: — LIABILITIES—- £ S. d. 1 Paid-up capital 500,(100 0 0 2 General reserve fund . 1.000,000 0 0 3.' Bank notes 9,011,478 0 0 I Demand liabilities—(a) State (1.390.565 12 1 (bi Banks 10,737.492 5 1 (e)- Other 3,489 1 - ."> Time deposits — 6 Liabilities in currencies other than N.Z. currency .1 7. Other liabilities 37.498 13 9 £28.280,523 12 4 ASSETS—8. Reserve—(n 1 Gold 3,001.731 0 0 lb) Sterling exchange'23.oo7,7s6 1 5 8 (ci Gold exchange .... — 9. Subsidiary coin 86,933 8 0 10. Discounts—(a) Commercial and agricultural bills .. <- (It) Treasury and localbody bills — 11. Advances—(a) To the State or State undertakings — (b) To other public authorities — (c) Other — 12. Investments 1,559,315 14 8 13. Bank buildings ■ — 14. Other assets 24,786 14 0 £28,280,523 12 4 Proportion of reserve (No 8. less No. (!) to notes and other demand liabilities. 99.50 per cent., compared with 99.53 per tent, on November 19. The principal changes shown this week are on the liabilities side. Banknotes issued have by £520,705 and stand at £9 611.478. Government deposits nt £6.390,565 show an increase of £414.909. These increases are more than offset by a decrease of £952,712 in the trading banks’ deposits, which stand at £10.737,492. while other demand liabilities have decreased by £lB3 to £3489. Other liabilities nre shown at £37.498, a decrease of £l7lO. On the assets side, gold is practically unchanged nt £3.001.731. Sterling exchange, at £23.607.756/15/8. shows a decrease of £16,647/7/6. Subsidiary coin r.t £86.933/8/- is lower by £11,747/7/3. Investments have increased by £16.661 *2/11 to £1.559.315/14/8. and other assets at £24,786/14/- have increased by £1738. The statement balances nt £28,280.523 13/4, a decrease of £9990/19/1. FOREIGN EXCHANGE On New Zealand Currency Basis The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday:— Buying. Selling. France— Francs to £1

• T.T. represents telegraphic transfers. .0.1). represents on 'lotnainl transactions. The nbnvc rates tire subject to alteration without nyticc. New Zealand Pound Abroad Bated on the rates qii-itcil yesterday iv tlie [’link of New South Wales, £1 New Zealand was worth approximately: 1(5/1 in London. SI/f'H in Ausfraliti. IC/I'l in U.S.A. 15 /Si in Cnntu'n. “/S in France. 10 / <)} in Italy. t'/ti. 1 . in (lertnany. I'/t’J in Java. £l/7/10 in Japan. Position' of Sterling By T> legraph.—Press' Assn. —Copyright. London, November 2S. Tile following rates on foreign exchanges were current to day, compared with those ruling on Noveniber 27: —

■(■Sellers, official. •Sellers. JPar, 8.23 31-32 since dollar devaluation on February 1. 1934. Gold anil Silver. London, November 28. Gold.—£o/19/74 per fine ounce. Silver.—Cash, 24 5-84. per ounce; forward, L’4id.

TRADING BANKS Monthly Return for October DEPOSITS LOWER A number of important changes are shown in a summary of the tradiug bunks’ monthly returns as at the close of business on Monday. October 29. when compared with those for September 24. The returns, which are furnished to the Reserve Bank in accordance with section 4G of the Reserve Bank of New Zealand Act, 1933, were gazetted last night. The aggregate figures for the six trading banks, expressed in New Zealand currency, are as follow: — CREDIT— . & (a) Demand liabilities in New Zealand 24,025,089 (b) Time liabilities in New Zealand 30,045,(37 (c) Demand liabilities elsewhere than in Now Zealand Incurred in respect of New Zealand business 198,594 (d) Time liabilities elsewhere than In New Zealand incurred in respect o-f New Zealand business 515,095 (j) Notes of own issue in circulation payable in New Zealand 2,206,305 Totals £66,203,761 DEBIT— - (e) Reserve balances held in the Reserve Bank of New Zealand 12,676,765 (f) Overseas assets in respect of Now Zealand business — (1) In Dondon 10,404,570 (2) Elsewhere than in London 8,948,811 (g) (1) Gold and gold bullion held ,in New Zealand — (2) Subsidiary coin held in New Zealand 538,300 (h) Advances and discounts in New Zealand 43,530,544 (I) Reserve Bank of New Zealand notes 5,043,624 Totals £81,291,683 The trading banks’ own notes in circulation, payable in New Zealand, were further reduced during the five weeks by £509,759, a total reduction since July 30 of £4,013.936. The total note circulation at October 29 wps £6,040,968/10/-, compared with £6,183,671/10/- on September 24, a reduction of £142,703. The demand liabilities of the trading banks in New Zealand as at October 29 (current accounts, etc.) stood at £24,025.030, a reduction of £1,746,290 compared with those on September 24. Time liabilities in New Zealand at October 29 stood at £39,045,737, a reduction during the five weeks of. £540,983. .The demand and time liabilities in New Zealand totalled £63.070,767, a reduction of £2,287,273. Demand liabilities elsewhere than in New Zealand incurred in respect of New Zealand business were further reduced to £198,594, compared with £5,148,764 on August 27. Time liabilities elsewhere than in New Zealand incurred in respect of Ne.w Zealand business totalled £818,095, compared with £822,213 on September 24, a decrease of £4llB. Reserve balances held in the Reserve Bank of New Zealand on October 29 totalled £12,676,765, compared with £15,913,546 on September 24, a reduction of £3,236.781. Total overseas assets in respect of New Zealand business, at £19,443,381, show an increase of £2,562,569. mostly in London, where the assets held total £10,494,570, compared with .£7,751,171 on September 24. „ Advances and discounts in New Zealand total £43,539,544, compared with £41.603,073 on September 24. an advance during the five weeks of £1,936,471. The ratio of adyinces and discounts to total deposits in New Zealand at October 29 was 69.03 per cent., compared with 63.65 per cent, on September 24, 62.09 per cent, on August 27, and 64.25 per cent, on July 30. BETTER DEMAND FOR BUTTER Cheese Market More Active A. IT. Turnbull and Co., Ltd., have received the following cable from their principals, W. Weddel and Co., Ltd., dated London, November 28:—-Butter: Better demand at lower prices. Danish, 115/-. New Zealand, finest, 73/-. Kangaroo, finest, 72/-. Cheese market quiet. New Zealand white, 48/-; coloured, 47/-. Joseph Nathan and Company, Ltd., have received from their principals, Trengrouse and Nathan, Ltd., London, the following cabled advice, dated November 28: —New Zealand butter: Better demand. New Zealand cheese: White, 46/to 47/-; coloured, 45/- to 46/-. More active.

The New Zealand Loan and Mercantile Agency Company, Limited, have received the following advice from their London house, dated November 28:—Dairy produce (Inst week's quotations in parentheses) :—Butter: New Zealand choicest salted, 72/- to 73/- per cwt. (75/- _ to 76/-). Market steady. Demand improving-. Cheese: While, 48/- per cwt. (50/-): coloured, 47/- per cwt. (49/-). Market slow. MOTUROA OIL FIELDS, LTD. Annual Meeting The annual general meeting of shareholders of 'Moturoa Oil Fields, Limited, was held at Wellington on Wednesday, the chairman of directors, Mr. C. E. Richardson, presiding. In moving the adoption of the annual report. Mr. Richardson briefly surveyed the operations of the company during the past year, and paid a tribute to the work of the superintending driller. Mr. Pedersen, and his party, in their co-operative arrangement regarding the drilling of the No, 4 well. lie also expressed apprecia-' tion of the assistance rendered to the company by Taranaki (N.Z.) Oil Fields, N.L. tie referred to the arrangement that had recently been made for the undertaking of a geophysical survey of the company’s property, and should this prove encouraging, the outlook for the company would be materially improved. It was expected that the survey would be completed b.v the end of February, 1935, and that the testing of tiie No. 1 well would be completed within the next two months. The future polic.v of the company would be influenced by the result of the geophysical survey. Mr. Charles N. Taylor, managing director, gave some interesting details regarding the geophysical survey, and (he methods would bo adopted. The result of such survey should be to test out thoroughly the oil possibilities of the company’s areas. At a subsequent meeting of the board, Mr. J. W. G. Brodie was elected chairman of directors for the ensuing year. The annual report, balance-sheet, and accounts for the year ended August 31, 1934. were adopted, and Messrs. J. W. G. Brodie and If. B. Williams, the retiring directors, were re-elected. At the request of the other directors. Mr. C. E. Richardson, who had tendered his resignation on account of his forthcoming visit to Great Britain, had consented to remain on the board, and had been granted leave of absence. A tribute was paid to the work of the chairman during the vast year. The chairman s -, id ho hail pleasure in announcing that Mr. C. IT. Weston, K.C., had joined the board, nnd his election was confirmed by the shareholders present, Messrs. McCulloch, Butler nnd Spence were reappointed auditors for the current year, Londpn Wool Sales Delayed Cubic meewages received b.v the Bank of New Zealand and Dalgety and Co., Ltd., state that the wool snles on Wednesday had to be postponed on account of a dense fog.

Base Metals Market By Telegraph.—Press Assn. —Copyright. (Received November 29, 9.20 p.m.) London, November 28. The official London (middle) quotations for Wednesday, as reported by the Australian Mines and Metals Association compare as under with those previously x0v.27. Nov. 28.

Zinc Corporation Dividends

The Zinc Corporation Ltd. yesterday advised the Stock Exchange Association that the directors have declared a fixed cumulative dividend of 2/- on the preference shares for the half-year ending December 31, 1934; also an interim participating dividend of sixpence per share on both preference aud ordinary shares in respect of the year 1934. Both dividends, less income tax at 2/11 in the £l, will he paid on January 1, 1935, in British currency. Transfer books will close nt 4 p.m. on December 6 and reopen on December 8. Australian Wool Sales By Telegraph.—-Press Assn.—Copyright. Melbourne, November 29. The finest selection of choice and super wools ever submitted at a single sale in Australia was offered at the Geelong wool sales. New Australian records were established at the sales for merino at 21 Jd. per lb:, and comeback at 18d. Brisbane, November 29. Competition at the wool sales was . particularly keen, and 95 per cent of 10.000 bales offered was disposed of. values being firm. Greasy sold at 16}d. per lb., cud scoured to 26d. Meat Shipments to U.K. The New Zealand -Meat Producers’ Board is advised by cable from its London office that the shipments from Australia and South America to the United Kingdom during the first half of November were as follow : — Australia: 75 59S carcases mutton; 449,763 careases lamb; 37.396 quarters beef. .. South America: G3l carcases mutton. 67.857 carcases lamb; 678 quarters hem: (frozen) ; 168.130 quarters beef (chillWl The shipments from New Zealand to the United Kingdom for the same period were as follow: 17,099 carcases mutton; 65,163 carcases lamb; 20.4i7 beef (frozen): 1065 quarters beef (chilled). LIVE STOCK MARKET. Reports of Feilding and Pahiatua Dive Stock Sales wilt lie found on Page 4.

N.Z. GOVT. LOANS. Buyers. £ s. d. Sellers. E s. (1. 4 p.c. Bonds, 1946 .... 104 — (> —- 4 p.c. ditto, 1949 .... 4 p.c. iitto, 1955 .... 107 112 0 0 0 0 113 6 5 p.c. Rural Bonds, 1947 103 10 0 3} p.c. Ins. Stk., 1939-43 106 -« 6 6 107 0 0 31 p.c. ditto, 1939-52 .. 10(1 3i p.c. ditto, 1933-43 .. — 107 0 0 p.c. ditto, 1938-52 .. 4 p.c. ditto, 1940 .... 106 103 0 0 0 0 107 103 0 10 0 0 4 p.c. ditto, 1946 .... 104 0 0 106 0 0 4 p.c. ditto, 1949 .... 107 0 0 IOS 0 0 6 4 p.c. ditto. 1955 .... 112 0 0 113 0 debentures. Wgtn. City, 4J p.c., 1944 ..... 105 10 0 — Eastbourne Boro., p.c., 1952 — 105 0 0 Haurakl 104 102 5 0 Wgtn. Gas Co 0 0 Wright, Stephenson, 5 p.c., prior lien .... '98 10 0 — BANKS. 6 Australasia 11 0 0 11 0 Comrcl. of Aust., ord. 0 15 9 *“ Comrcl. Banking Co., Sydney — IS 0 U Eng., Scot, and Aust. 0 0 National of N.Z 3 11 6 3 14 6 National of Australasia, £5 paid 6 0 0 32 New South Wales .... ♦32 0 0 io 0 New Zealand *2 8 4 8 9 6 Ditto, D long term — ♦1 13 Reserve Bank of N.Z. 6 9 0 6 9 9 Union of Aust 8 15 0 8 17 0 FINANCIAL. Dalgcty and Co. .... —— 9 0 0 Goldsbrough, Mort and g 10 Co National Mortgage (A) •— 10 3 0 0 N.Z. Guarantee Corp. 0 0 6 1 Wgtn. Invest., T. & A. 0 8 9 Wgtn. Trust, Loan ., i) 10 0 —— Wgtn. Dep. and Mtge. 0 4 0 — GAS. Christchurch 1 14 0 — Gisborne — 0 12 6 Wellington, ord 1 9 0 INSURANCE. Aust. Prov. Assce. ... 0 11 1 —• National of N.Z. ..... 1 1 6 1 1 8 New Zealand —— 3 9 0 South British 4 14 9 4 15 6 MEAT. Gear Meat 1 4 0 1 6 0 N.Z. Kefrig., £1 paid 0 19 10 1 0 2 Ditto, 10/- paid ... 0 10 1 Southland 3 16 0 — Wgtn. Meat Exp., pref. 1 4 6 1 8 6 Sth. Otago 6 4 6 — TRANSPORT. Huddart. Parker, ord. — 1 17 6 Union Steam, pref. .. 1 0 9 —— P. and O. defd. stock — 1 0 WOOLLEN Kaiapoi. paid 0 15 2 0 15 11 Wellington, ord 5 12 6 —• Ditto, pref u 14 0 — COAL. Westport 1 0 1 TIMBER. Kauri —— *0 IS 7 Leyland-O'Brien .... 1 1 0 1 — 6 National — •0 14 6 Taupo Totara — 0 5 3 Itotolti 0 3 6 — BREWERIES. Carlton o 13 0 o 14 9 N.Z. Breweries 9 0 9 6 Staples and Co 1 10 6 —— Tooth and Co —— o 11 3 Tooheys •— i 9 0 Till ft 0 0 4 0 0 Crown 0 3 6 — MISCELLANEOUS British Tobacco. Aust. 0 6 • > 3 0 Burns, Philp and Co. J 17 (J —— Colonial Sugar 39 0 0 41 0 0 Consol. Brick and Pipe —. 0 10 y Dental & Medical Sup. 0 8 9 —. Dominion Fertiliser . — 1 1 3 D.I.C., 7/6 pd., ord. . Ditto, pref — 0 13 6 — 1 7 3 Dunlop Perdriau 0 19 9 — Electrolytic Zinc, ord. 1 4 (, 1 5 1 Ditto. 8 p.c. pt. pref. 1 14 6 1 15 0 Farmers’ Co-op. Auct. 3 18 0 N.Z. Newspapers — ' 1 14 0 N.Z. Paper Mills .... 1 14 0 —— Sharland and Co., ord. 1 « 0 —— Ditto, pref 1 6 0 —- Wilsons N.Z. Cement — 1 13 9 Woolworths N.Z ‘8 0 0 9 I) 0 Quill Morris 0 3 — — Claude Neon Lights . 2 13 0 —— Aust. Glass *3 1 6 3 - 6 mining. Bell Hooper 0 0 4 Elg River 0 1 C) 0 1 7 Brian Boru 0 0 m 0 0 U «olden Dawn 0 o 9 King Solomon 1 0 4 0 Mahakipawa (1 0 0.1 0 0 101 Mount Lyell 0 7 0 0 8 1 Nokomai 0 u 9 Skippers 0 0 81 0 0 0i Wai hl 1 : 8 1 9 0 Walhi Grand Junction 0 4 6 Waitahu 0 3 9 Nevis Diesel 0 0 31 *Ctun dividend. tEx dividend. Unofficial List Buyers. Sellers. £ s. d. ; £ 8. d. N.Z. Fmrs. Co-op. Dist., 14/- paid — 0 13 6 Ditto, £2 paid .... Dcnhard Bakeries, pref. —• 1 .5 I) 0 18 6 1 1 0 I’rocera Bread 0 14 •o 0 .5 6 Woolworths Ltd., ord. 16 0 3 17 0 Maori Gully 0 1 4 0 1 6 Frozen Products .... 0 9 0 Tru Color Film, vendor —. 10 0 Ditto, ord —-• 1 4 0 Chapmans Find 1 5 0. IV. E. Woods. Ltd. — 0 17 3

Sale price. £ s. d. p.c. on investment. £ s. d. Govt. Bonds, 4 p.c., 1955 112 10 0 u u 9 Inscr. Stock. 3J p.c.. 10 1939-43 106 0 o 6 — Ditto, 3} P.C., 11)38-43 10(1 10 0 3 n — Ditto, 4 p.c., 1040 . 103 O 3 12 10 Bank of N.Z. (2) — 8 6 4 Union Bank 8 15 0 — 1.7 South British Ins. ... 4 15 — 16 0 Kauri Timber 0 18 4 1 1 Australian Glass .... . ■ 1 JI) — 18 * United Provisions .... 0 IS ■— Blount Lyell *0 0 •— Ditto 0 18 0 — Skippers 0 0 8 — Unofficial list: 1G Woolworths Ltd., ord. 3 6 — Ditto ,> 16 <> —* Ditto • t> 16 9 — •Late sale M cdnesday. AUCKLAND. d. £ s. d. £ R, Inscr. stock, 4 p.c., 1940 Ditto, 4 p.c., 1916 .. 103 7 (! 3 12 104 1J 0 o 12 6 Reserve Bank (2) .... 6 10 6 3 16 7 National Insurance (2) 1 1 9 8 11 • N.Z. Insurance 3 8 9 w 18 Auckland Gas 1 7 4 4 0 6 Northern Steam 0 6 8 •— 2 Kauri Timber 0 18 3 4 — Taupo Totara 0 () — N.Z. Breweries — 9 0 — J • .1 British Tobacco w 9 16 Colonial Sugar 40 0 0 — Consolid. Brick 0 10 0 — Dunlop Perdriau .... 0 19 10 i) 0 10 Walhi (2) 1 18 6 0 3 10 Goldfields Dredge .... 0 0 7J •— Skippers 0 0 7i — Malaki 0 - 3 CHRISTCHURCH £ s. d. £ d. laser, stock, 4 p.c., 1940 103 10 0 3 11 10 Reserve Bank 6 9 3 3 17 4 Ditto G 9 9 3 17 ul N.Z. Refrig., 10/- paid 0 9 11 0 10 Carlton Brewery w 13 G 19 10 N.Z. Breweries (2) ... —< 9 0 •. — 17 1 British Tobacco .... 10 1G 0 Ditto (3) — 11 w 15 11 Brian Bor.i 0 0 11* — King Solomon 0 n —— Malxaklpawa, 1929, pref. 0 1 .. —— Ditto, 1930, pref, .. 0 1 1 —— Mount Lyell (4) 0 17 10 —— Ditto 0 17 11 —— Worksop Ext 0 3 o «— Sales reported— Inscr. stock, 4 p.c., 1940 103 10 0 3 11 10 Union Bank '•8 14 6 w 17 3 National Insurance .. 1 1 4 3 9 6 Mutual Benefit Build, . 13 10 0 4 1(1 3 N.Z. Breweries ..... 9 0 w 17 :1 Australian Glass ,, 1 .1 18 9 Mount Lyell (2) 0 17 ioj •— Ski/ptpers 0 0 8 —— Worksop Ext 0 3 3 —. Unofficial List — Woolwortlis, Ltd., ord. (3) 3 1G (> — Argo Gold, 7Jd- Paid .. 0 0 11 — DUNEDIN. £ s. d. £ s. d. Bank of N.Z ■ w 8 8 - |4 -L 12 National Insurance (2) 1 1 7 9 G Inscr. stock, 4 p.c., 1955 113 O 0 •» 1 N.Z. Refrig., cuntr. (2) 0 <1 11 5 0 10 N.Z. Paper Mills .... 1 14 1) 4 0 7 Charleston 0 0 6 —— Bendigo Goldllght 0 0 11 —— Glenro.v 0 0 10 —. Maerewhenua 0 0 4 —

N.Z. ‘T.T. 0.1). 61.44 . 51.74' 60.14 60.19 .Noumea— Francs to £1 N.Z T.T. 62.39 59.39 Papeete— Francs to £1 O.T). 62.75) 59.44 N.Z T.T. 62.39 59.39 Belgium— Belgits to £1 O.D. 62.79 59.44 X.Z. T.T. 17.557 16.857’ Germany— Reichriiarks O.D. 17.657 16.872 to £1 N.Z. T.T. —- 9.767 Italy-r-Lire to £1 O.D. — 9.772 N.Z T.T. — 46.28 Switzerland— Francs to £1 O.D. — 16.32 N.Z T.T. 12.582 12.182 Holland— Florins to £1 O.D. 12.657 12.192 a\ tilt ■ • > T.T. 6.0f,l 5.811 Jara— Florins Io £1 O.D. 6.11 i 5.815 N.Z T.T. ' 6.020 5.795 Japan— N.Z.. pence O.D. 6.070 5.799 to 1 yen Shanghai — N.Z. pence to TIT. — 17 21-32 1 dollar T.T. 19 7-16 20 J O.D. Indm and Ceylon—. N.Z. pence ■ 1!) 5-16 20 11-16 to 1 rupee T.T. 22 9-32 22? Hong-Kong— N.Z. pence O.D 22 5-32 22 9-16 to 1 dol. T.T. 241 25 9-16 Singapore— N.Z. pence O.D. 2fs251 to 1 dol. T.T. 34 15-32 35 13-32 O.D. 34 11-32 35 11-32

Nov. 28. Nov. 27. Par. X, York, <lol. to £ 1,98 0-10 4.08 7-8 $4,800 Montreal, (lol. to £ 4.8(11-8 4.851 4.800 Paris, fr. to £ 75.tr. 75 21 -32 124.21 Brussels, bel. to. £ 21.38 21.38 35.00 Geneva, fr. to £ 15.385 15.40 25.225 Ams'dam. 11. to £ 7.375 7.38 12.107 Milan, lire to £ 58 7-10 5815-32 02.46 Berlin, inks, to £ 12.415 12.41 20.43 St’liolm. knr. to £ 19.395 19.395 18.159 Clingen. knr. to £ 22.395 22 3115 18.159 Oslo, knr. to £ 19.905 10.005 18.159 Vienna, scltgs. to £ 27 27 34.585 Prague, knr. to £ 1195-1G 1195-16 101.25 Ilel’fors. inks, to £ 226.75 •220.75 193.23 Madrid, pes. to £ 30.50 30.50 25.225 Lisbon, esc. to £ 110.125 110.125 110 Athens, draclt. to £ •523 *523 375 Belgrade, din. to £ 220 220 270.31 Bucharest, lei to £ 4S7 487 813.00 Warsaw, zloty to £ — — 43.38 Itlo de J., p to mil 141 11$ 5.899 B. Aires, p. to peso $36 J $3tH 47.02 Af. Video, n. to peso tJW 1-8 139 1-8 51 Calcutta, p. to rtip. 18 3-01 18 1-10 18 Shanghai, p. to dol. 101 .101 —— H.-Kong, p. to dol. 20 1-10 20 —— Y’hama, p. to yen 141-64 141-32 24.582 Batavia, fl. to £ 7.355 7.3G 12.107

CopperStandard, spot ... forward Electrolytic to Wire bars . per ton. £ 8. <1. 27 11 8 27 18 11 30 10 0 31 10 0 31 10 0 Per ton. £ s. d. 27 10 7* 27 16 10J 30 10 0 31. 0 0 31 0 0 Lead— 10 13 a 10 15 0 10 15 0 10 13 9 Spelter— .11 17 6 11 18 9 13 3 9 12 5 0 Tin— 228 16 3 229 16 3 229 1 3 229 17 6 SilverStandard, per oz. . 24 5-Sd. 26 9-16d. 24 5-8d. 26 8-16d. ■(■'American, December 51.00 cents a lb.