TRADE AND FINANCE

Evening Post, Volume CXX, Issue 124, 21 November 1935, Page 12

TRADE AND FINANCE

PRODUCE & MARKET REPORTS FROM DAY TO DAY

WEALTH IN. RAIN

' LONDON WOOL SALES i. RATES SUSTAINED ! HARDENING TENDENCY ;,Jiy 'l<'liTn!j.!i.~l'iL>s A.-sii.-U>|..vi! S !.i.i I Received November 21, 11.15 a.m.) ; LONDON, November 20. i Offerings at the London wool sales I today were 11,103 bales, including 33!!) New Zealand. About 8840 bales of Australian and New Zealand wools were sold. Good Home-Continental competition at full opening rates were' sustained. Prices for merinos have a hardening tendency. New Zealand sales included scoured merinos "Oxford" highest, 22d average: slipe, halfbred lambs "Fairfield," 17d highest, 15] d average. COMPARISON OF PRICES. Murray, Roberts, and Co., Ltd., are in receipt of the following wool market quotations from their London agents, dated November 20, giving opening rates for the current series compared with closing rates for September sale as follows: Nov. Sept. •I. 11. X.Z. .Merino. Ou/IM's .vlcldln;; ■IS per cent i:s IHVi Halfbred, SB's, lil per cent. . 11 vi llHj. Sup. Ft).- Crossbred, 50's, 70 per cent <j>™ S% Fine Crossbred, -IS/jO's mixed . prep, and card. .vldg. 7per cent 9 s Fine Crossbred, 40/lS's il:ccd prep, and card. per cent. S'.« ' 7':, Jied. Crossbred. 4J/4C'a prop. j'ldK. 7(1 per cent S 71». Med. Crossbred, 44/40's card. yldg. 71 per cent. 7-% 7H Csc. Crossbred, 40/41's 'ylds. 75 per cent. ..'..' 7 Vi ■ 7 Loiv Crossbred, 3G/40's, jldg. 7tt per cent '. 7 ' BVj FIRM MARKET IN SYDNEY (By Telegraph—Press' Assn.—Copyright.) SYDNEY, November 20. At the wool sales today 13,209 bales were offered, 12,773 being sold at auction, and 2054 privately. Under strong general competition the market was exceedingly, firm at late levels with a particularly strong demand for finer grades of comebacks and crossbreds. A line of greasy merino sold to 25id. AUSTRALIAN AVERAGES. Average prices per lb obtained in Commonwealth wool markets to the end of October have been made available by the National Council of Wool Selling Brokers as under:— Greasy. Scoured. (1. d. •Inly 5.2 22.0 August S.O :?:!.!) September 12.2 V.'.t October , 12..S jmj.o Four months .. 12.0 21.(i WOOL FOR CHINA. The China Wool Trading Company. Ltd., has been formed in Sydney with a capital of £30,000 in shares of £1 each with the objects of establishment of a wool-buying and selling organisation in Australia to deal in those classes of wool, including scoured, carbonised, and partly processed wools, and tops, required by the woollen and worsted industry established in China; and to extend its sales organisation in China by members or officers of the company there resident. SHARES INVESTMENTS FIRM (By Telegraph—Press Assn.—Copyright.) SYDNEY, November 20. On the Sydney Stock Exchange today, the investment market was firm. The gilt-edged section was strong, values of most Commonwealth loans improving. Broken Hill Proprietary touched a new high point since the announcement of the new capital issue was first made. Other leading industrials were well supported. Sales:—Colonial Sugar. £42 15s; Bank of New South Wales, £33 7s Cd; Associated News, 255; ditto, pref., 24s 3d; Automatic Totes, pref., 255; Australian Gas, A, £7 16s; Australian Glass, 85s; Tooth's Brewery. 595; Drug Houses of Australia, 28s; Dunlop-Per-dnau Rubber, 16s 6d; Morris Hedstrom, 255; Greater J. D. Williams. 7s 9d; David Jones, 43s Cd: Anthony Hordern, 19s Gd; Standard Cement. 22s Cd: General Industries, 20s 4ld; Mt. Morgan Development. 2s Bd;'Broken Hill Proprietary, 59s 9d; ditto, first instalment paid, 295; Broken Hill South, £5 10s 6d; Zinc Corporation, 70s; Kuala Kampar Tin, ,35s 3d; Rawang Tin, 9s Id; Malim Nawai Tin, 15s 7.', d; Koroere. 13s; Tavua Development, 3s lid; Tongkah Harbour Tin, 22s 9d; Placer Development, £5 ss; Mt. Kasi, ex rights, 15s 4id: Commonwealth Bonds, 4 per cent., 1938, £lO3 12s Gd; 1941. £1T)1 12s 6d; 1944, £lO2 7s 6d; 1947, £103; 1950, £104; 1955. £lO4 ss; 1957, £lO2 13s 9d; 1959, £lO3 7s 6d; 1961, £lO3 12s Cd. MELBOURNE, November 20. Sales on the Melbourne Stock Exchange included:—Commercial Bank of Australia, pref., £9 16s; E.S. and A Bank, £5 10s; British Tobacco, 40s 6d; Australian Iron and Steel, pref., 25s 3d; North Broken Hill, £8 13s; Zinc Corporation, 69s 9d; Electrolytic Zinc, 35s 10»d: ditto, pref., 39s 4-Jd; Mt. Lyell, 21s 7Jd; Mt. Morgan, 38s; Tongkah Harbour Tin, 22s 6d; Emperor, 20s; Loloma. 37s 6d. PRICE OF GOLD (By Telegraph—Press Assn.—Copyright.l (Received November 21, 9.30 a.m.) LONDON, November 20. Price of fine gold per ounce, 141s 4id.

AUSTRALIAN CONDITIONS TRADE IMPROVING "Evening Post." November 21. What good and sufficient rains mean to the economic welfare of Australia is not easy to appreciate in New Zealand. It may be said, however, that Australia's trade, internal and external, is influenced by rain more, perhaps, than any other country; and in some degree the export trade of New Zealand, especially in dairy produce, in which both countries compete in the British market, is affected by its neighbour's rainfall. Reports that reached the National Bank of Australasia from various States of the Commonwealth show that the rains of October have been very helpful to pastoralists, dairymen, and fruit growers. The rain was needed to provide fodder and water for the summer, and now that it has fallen the outlook is satisfactory over wide areas of good country, where previously it was obscure or doubtful. An immediate outcome of the rains is an increase in Queensland and New South Wales butter outputs from an aggregate of 28,000 boxes for the week ended October 12 to 55,000 boxes for the week ended November 2, which is accompanied by a promise of further additions as the season advances. WOOL AND MEAT.

In the wide pastoral areas o£ Australia the improved conditions will have little effect on the current season's wool clip, but will certainly assist the growth of wool for the following season. In the fattening country it will increase the number of prime bullocks, sheep, lambs, etc., available for marketing. So far as actual wool production is concerned, it is expected that the original estimate of 2,930,000 bales made in May last will be attained. The preliminary estimate of the coming wheat harvest is given at 126,000,000 bushels, or 7,000,000 bushels less than last season's yield. Butter forwarded for gradihgs for the past week was slightly in excess of the quantity received for the corresponding week of 1934, and conditions are favourable for much increased butter outputs in the near future. ' In Victoria "some districts are riow reporting that present conditions indicate one of the best seasons on record." There is a slight setback in the far north-west of the State, where the rains came too late for wheat. Balance-sheets of Australian public companies continue to show an aggregate increase in profits, and the results of 184 companies whose balance-sheets have been published during the past three months compare as follows: — 1933. 1934. 1935. Total £ £ £ Profits 3,565,047 4,315,837 4,874,464 Losses ... 168,378 102,329 100,724 Net amount' 3,396,609 4,213,508 4,773,740 Net amounts of these companies for 1931 were £2,830,410, and for 1932 £2,996,155. MORE EMPLOYMENT. The employment position in Australia, states the National Bank's summary, has improved further, as indicated by a reduction of nearly 3 per cent, in the number o£ trade-unionists unemployed between May and August last, bringing the figure down to 15.9 per cent. This compares with the maximum of 30 per cent, recorded in June, 1932. Other industrial statistics indicate a marked improvement in employment over the past year, which is confirmed by substantial shortages in the number of -workers required in the building, engineering, . and other industries.

Another indication of an improved labour position is afforded by the building statistics, which include the value of permits issued in the capital cities and suburbs of each State. The National Bank insists that it is in the best interests of the workers to have relief work and sustenance replaced by employment in ordinary industry, and the more rapidly private enterprise takes up the slack of the labour force the better for all concerned. The only permanent and satisfactory solution of the unemployment problem lies in the development and expansion of private enterprise. The point is stressed that a greater spread of spending power in the hands of the public through taxation remissions whenever possible, particularly in the heavy unemployment relief tax, is most desirable as a means of alleviating unemployment. STERLING AND DOLLAR (By Telegraph.—R-css A»n.—Copyright.) (Received November 21, 9.30 a.m.) LONDON, November 20. Sterling exchange. London on New York, 4.92 7-16 dollars. Dollars.

November 19 4.92 November 18 4.92 November 15 4.921 November 14 4.92" November 13 4.91.[ November 12 4.92.'. November 11 4.92* November 9 4.92 5-8 November 8 4.92.1 November 7 4.913 November 6 4.92 J November 5 4.92 J November 4 4.92 3-8 November 2 4.913 November 1 ........ 4.911 October 1 4.9015-16 September 2 ........ 4.9515-16 August 1 4.95 11-16 July 1 4.94 7-1G June 1 4.92 1-8 May 1 4.33 3-8 April 30 4.83J March 1 4.83 13-16 January 1 4.94 3-16

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates today on a .New Zealand currency basis. They are subject to alteration without notice. U.S.A. Canada. (per£l (per£l N.Z.) N.Z.) Selling— dols. clois T.T 3.943 3.985 On demand 3.94 a 3.99.', Euyirifi— On demand 3.99.1 4.03J TOE TRENCH FRANC. (By Telegraph—Press Assu.—r.Y.pyi-icdit.) (Received November 21, 9.30 a.m.) ' LONDON, November 20. Sterling exchange on Paris, 74 13-16 francs to £l. The rate on November 19 was 71 11-16 francs. LATEST AUSTRALIAN LOAN. The A.M.P. has taken up £500,000 of the new Australian internal loan of £7,500,000. The underwriting commission on the loan is t, per cent. Insurance companies are now admitted as sub-underwriters.

PRICE OF SILVER. (British Official Wireless.) RUGBY, November 19. Prices of Silver.—Spot, 29 5-16 d per oz; forward, 29 l-16d per oz. TOOTH'S BREWERY BONUS (By Telegraph.—Press Assn.—Copyralit.l SYDNEY. November 20. To mark the centenary of Tooth and Co., Ltd.. the directors have decided to recommend to shareholders the payment of a cash bonus of 21 per cent., and an issue of shares at par of £1 each to shareholders in the proportion Of one new share for every 10 shares held a(. March 31, 193(5.

STOCK & SHAKE MAIiKET THURSDAY, NOVEMBER 21, (935. Morning Call.

MINING- NEWS REPORTS AND RETURNS The chairman of directors of King Solomon Deep Lead, Ltd. (Mr. Henry Smith), has issued the following statemen I:—Numerous rumours have been in circulation recently regarding the possibility of the King Solomon properlies being sold to overseas interests To clear the air, it may be stated that an option has been given to a British syndicate, and a representative of the .syndicate has inspected the company's areas. The option has now been renewed, but otherwise the position is quite indefinite at the moment. TALISMAN DUBBO. Talisman Dubbo, Karangahake fovtmg.it ended November 2.—Talisman ISO. 2 level: A crosscut at 376 ft south was driven Oft to the west and connected with the old stope. Two feet of quartz on the east wall of the old r,-, ;x ; \\' as of P oor value. Dubbo leveli he.following gives the average widths and values of the samples obtained in the various slopes in the past two weeks:—Week ending October 19: From 85ft north to 95ft north 48ft above level 23in, fair value. From 245 ft to 39oft north, 105 ft above level, at 375 ft 24in assayed very good. The assays from the rest of the stope averaged very good for width of 24in. From 600 ft to 625 ft north, 14in fair 4fo? Week ending October 26: From 70ft to 85ft north, 46ft above level, 14in fair value. i From 215 ft to 335 ft north, 108 ft above level, at'3osft north 18in assayed ™£ a y e £ y g< J ocL The assavs from the rest of the stope averaged very good for average'width of 24in. Talisman No. 1 level: Stopmg has been resumed in the workings at 420 ft south and quartz of very good value is being mmeci. ' s BIG EIVEE. The gold return of Big River Mines, Ltd.. for the month of October is battery department: 184 tons of ore crushed for 102oz 17dwt of melted gold Cyanide department: 120 tons treated for 21oz Bdwt of bullion. Total estimated value £365. In addition 5 tons l cwt of concentrates were saved valued at £l2O. In estimating the above -values gold was taken at 145s per fine oz. STAFFOED DREDGING. The Stafford (Hokitika) dredge rct,urn?d„3?oz melted gold from 6555 yds for 113 hours, for the period ending November 6. The preceding return was 48oz from 7248 yards. | PRICE AND RETURN [ Latest sales reported and made on ,ne Slock Exchanges of the Dominion with the highest prices arid the approximate yields per cent per annum to investors (all subject to appropriate taxes and exchange where operative) based en the last annua) dividends plus bonuses, if any, and considering redemption and brokerage irr the case of redeemable securities where dated were as follows:

a.—.Market price includes accrued interest. but not brokerage, i.—lnterim div. increased, n.—Not available, s.—Div. paid in sterling, u.—lnterest due-dales not known; yield on iji-ofs price. FOREIGN EXCHANCE RATES Closing sight rales as quoted by the Bank of New South Wales, Wellington, today, for buying and selling foreign currencies based on New Zealand currrency, are as follows:

Sales reported, fir-fit call, this d.-iv.— Colonial Sugar, £42 2s Cd; Anthony l'lot-cloi-n, 19s 4d. Late .reported sales, yesterday.—Bank of New Zealand*, 51s 3d; N.Z. Guarantee Corporation. ss: Tooth's Brewery, 59s (Jd (2,, 59s 7'/2d (3); Claude Neon*, 41s; National Insurance, 19s Id, 19s; P. and O. deferred. 23s lid"; General Industries, 20s 2d; Skippers, 4d. *Cum div. UNOFFICIAL LIST. Buyers. Sellers. £ s. d. £ s. d. Woohvorths, Ltd. .. 516 6 517 3 Assoc. Motorists' Petrol (pref.) 15 0 Wellington Publishing 418 6 Late reported sales, yesterday.—Wool-u-orths, Ltd., £5 17s. OIVIDENOS DUE.

The abnvp ra'pf arf for on r|0...-.,,~ transactions. The £1 is £1 in New Zealand currency The rates are subleot to alteration without notice Based on the figures quoted ov thi Bank of New South Wales the New Zealand pound, compared with its original par value, is equivalent to approximately:—

HUME STEEL DIVIDEND. The New Zealand Stock Exchange Association i? advised that the annual genoral meeting of Hume Steel, Ltd., will be held on December 23. The directors will recommend payment of a half-yearly dividend on the company's IV* per" cent, cumulative preference shares, such dividend to be payable immediately after the annual general meeting. Transfer books closed from December .13 to December 23.

EGG MARKET STEADY. The -wholesale egg market in Wellington is steady al Is 2d lo Is 3d a dozen, first grade.

DAIEY MARKETS

BUTTER FIRM, CHEESE STEADY The New Zealand Loan and Mercantile Agency Company, Limited, has re-l ceived the following advice from its London house, dated November 20:—! Dairy produce (last week's quotations ■ in parentheses): Butter, New Zealand choicest salted, 103s per cwt (104s); firmer tendency. Cheese: White,- 53s per cwt (535); cheese, coloured, 53s 6d per cwt (535); market steady. Joseph Nathan and Company, Lid., have received from their principals, Trcngrouse and Nathan, Ltd., London, the following cabled advice, dated November 20:—New Zealand butter: Finest, 102s per cwt; first, 100s; market more active at reduction. A. H. Turnbull and Co.. Ltd., have received the following cable from their principals, W. Weddel and Co., Ltd, dated London, November 19:—Butter market quiet. Danish, 125s per cwt; New Zealand finest, 105s; "Kangaroo" finest, 102s. Cheese market firm. NewZealand, white and coloured, 535. BIG PAY-OUT FOE BUTTERFAT. The payment of £250,000 will be made today to shareholders of cooperative dairy companies in Taranaki for supplies during October. The monthly payment shows a substantial increase over that for the corresponding period of last year, 'although production in most parts of the province is considerably less than that of last year. Payments in North Taranaki will exceed £92,000, in South Taranaki £94,000, and in Central Taranaki £40.000. The companies are advancing up to Is Id a lb butterfat. —. .- i FINANCING DAIRY FACTORIES: The Australian Commonwealth Bank-1 and Associated Banks have arranged with the Australian Dairy Produce Export Board to finance butter factories in connection with the board's plan for the regulation of shipments from Australia to the United Kingdom oh the same terms as those granted last. season. The regulation plan, which came into force this month, aims at spreading Australian exports over a long period of the year by withholding from shipment each week a certain proportion of the butter graded for-export, during the flush production period. The banks will advance 6d per lb at .4. per ■ cent, per annum to factories on that portion of their butler which has been withheld from export..

CHRISTCHURCH "PRESS'*

(By Telegraph—Press Association.) ' CHRISTCHURCH, November 20. The balance-sheet of the Christchurch "Press" Company, Ltd., for the year ended October 31 shows a balance to credit of profit and loss of £3595 8s 3d. The directors recommend payment of a dividend of 3 per cent, for the half-year. The capital of the company is £200,000, of which shares for £68,900 have not been issued. The reserve fund is £48,000. Among the assets are: Land and buildings, £G4.834; plant, motor vehicles, etc., £28.849; stocks, £10.411; Government Stock and other investments, £ 14,170. THE TEA MARKETS (By Telegraph—Press Association.) DUNEDIN, November 20. Mr. L. M. Wright has received the following cabled .report on the Colombo tea auction of November 19: —Common kinds came to a slightly dearer market, while medium and fine teos declined slightly, following the inferior quality o£ the offerings. Next week's catalogue is for 2.000,0001b. | According to private advices re-l ceived in Wellington there was a strong! market for common teas at Colombo] this week, prices being fully firm.. Medium and better grades were easier owing to quality falling off. At Calcutta common teas were about steady and medium and better grades were easier. The London market was steady, with prices unchanged. NEW GUINEA GOLD. j (By Telegraph—Press Assn.—Copyright.) (Received November 21, 11.10 a.m.) LONDON. November 20. Sales of gold-mining shares include: — New Guinea, ss. JAVA EXCHANGE. I (By Telegraph.—Press Assn.—Copyright.) (Received November 21, 11.30 a.m.) BATAVIA, November 20. Sterling exchange, 7.21), guilders to I £l. The rate on November 19 was 7.201 TRICES OF METALS. ..By Telegraph—Press Asen.—Copyright.) LONDON, November 19. The official London (middle) quotations for Tuesday, as reported by the Australian Mines and Metals Association, compare with those . previously cabled as follows:

WOOLLEN COMPANY'S GOOD YEAK. "The company is in a strong financial position and the directors look forward to another year of successful trading," said Mr. J. W. Tattersfield. chairman of directors of Tattersfield, Limited, at the recent annual meeting. Mr. Tattersfield said the company had fully maintained its depreciation allowance and the insurance fund had been increased. It was intended to increase this fund and to carry a fair portion of marine risks internally. Stocks were lower than last year, due to earlier shipping of wool. No bad debts had been incurred, which was a record for the company. PHORMIUM IN AUSTRALIA. I A new industry may be started in the Wingham district, New South Wales, if plans now in hand are realised. This will be the growing of New Zealand flax, or phormium tenax. The fact that this valuable plant will grow here has been demonstrated in the Chinese gardens on river flats. It is likely that a nursery for the growth of New Zealand flax will be started near Wingham. The market for New Zealand hemp is described as irregular, and demand for the fibre as intermittent. Work at the Manawatu mills now operating is steady on contracts, but production in I genei'al is smalL The price „oday is in (the vicinity of £l9 per ton for high fair and £l7 15s for low fair. Good rains in the grass-seed growing districts of the South Island have materially improved crop prospects, and a reasonably good yield is expected. But the South Island cocksfoot crop not having received seasonable rains in August may produce only a normal yield, the rain having come rather too late.

Per oz. s. d. November J9 .. 141 G£ November 18 .. 141 5 November 34 .. ML 4.', November 13 .. 141 G" November 12 .. Ml 4 November 9 .. Ml :<£ November 8 .. 141 fi November 7 .. Ml 0.} November (i .. Ml 'U November 5 , .. 141 3. 1 , .. 141 r»" .. Ml 5J November 1 .. Ml 7 .. 141 7 J .. 140 3 .. MO 01 .. Ml 4} .. 142 0 May 1 .. M5 0 .. 145 81 March 6 (record) .. 149 4 March 1 .. MS 1 .. 142 4 .. 140 10J

Liuyer 3. Seller s X. B. d. £ s. d. N.Z. Govt. Loans J 1 '- I'.i:. Ills. Stk., 13/ :;.' 1939-13 ... 102 10 0 .i'.i: I'.i:. 1 US. Slk., 10/ :>, 1930-43 102 10 0 ■''•- p.c jus. Stk., 1,5/ 3, 19-11-43 102 10 0 !'.••. pus. sik.. 10/ 9/1941-13 102 10 • 0 •'!'--• 1'•'.•• Ins. S(k., 10/ 11.1933-02 . .. 102 12 () 3>.>j p.c Ins. Stk., 10/ 0; lo;;9-.>2 102 12 ti p.c. Ins. Stk., 10/ 11 •■'1011-02 ... 102 12 ti 1 p.c lite. Stk., 10/ 1 /' 1037-40 101 17 0 4 I'f. Jus. Stk., 10/ 2/IU43-4G 101 15 0 4 p.c Ins. Stk., 15/ 4/1940-49 105 2 6 4 dc Ins. Stk., 10/G/ 1932-53 1.08 2 6 4 p.c Bonds, 15/1/ 1937-10 101 17 0 4 p.c. Bonds, 15/2/ 1043-43 104 13 0 ■ 3 p.c. Rural Bonds, 10/0/1947 102 0 0 105 0 0 Local Body Debentures— Tnlara Bay 4V<l p.c. 15/9/53 9.8 10 0 Wiitn. City,; 4% : p.c. 1/2/52 . 108 10 0 Makerua Drain., 4% p.c (1/8/49) .,, , 101 10 0 New Plymouth H.B., 4U p.c. (1/9/71) ... — 107 0 0 Other Debentures— Gisborne Sheep Farmers . ■ 100 10 0 Wellington Gas 101 5 0 BanksAustralasia _. 11 10 0 -National of N\Z .— o 17 U Nat. of A'asia (£3) * --. 0 17 0 New Zealand * 2 1) 0 2 12 0 L'nion of A list 9 S 0 " 0 11 0 Financial— Dalgcty and Co. ...'"' S3 (I Imputable Bldg. Co... Farmers' .Go-op. Auc6 10 1 2 I) 0 tioneering' (A pref.) Goldsbroiigb., Mori, 1.11 3 t 12 3 Mortgage Corporation 0 5 4 0 5 !i N.Z. Guarantee Corp. 0 5 0 0 5 Wairarapa Farmers (pref.) 0 2 9 — Gas— Christchmch 1 Jo 0 Wellington (ord.) .... 1 18 9 —' Insurance— National' of N\Z 0 IS 11 Queensland .. 2 13 ti 2 IS 0 South British 4 12 9 Meat Preserving— Gear Meat . _ 1 3 9 X.Z. Kef rig. (10s).... 0 11 0 Southland 3 15 0 — Transport— Union Steam (pref.) 1 7 6 P. & O. Detd. Stock „. 1 4 G Kelhnriic Tramway .. 1 6 9 Woollen-* Wellington (ord.) ... 5 17 0 _ Timber— Bartholomew -._ 0 IS 0 Kauri * 1 3 3 1 4 3 Lpj-larid-O'Brien ' . ..* 1. 2 G .1 4 0 Koloiti 0 0 9 U 7 U Kotoiti (pref.) 1 0 0 Taupo Totara (ord.) . 0 s 9 0 9 u Breweries— N.Z. Breweries ...... 2 10 9 Staples and Co 1 14 0 1 IS 0 Tooth and Co Tui 2 1 p 3 0 0 Miscellaneous— Anthony llordern 0 19 0 0 19 u Brit. Tobacco (Aust.l 1 19 9 Brokcu Hill Pty. . '. .* 2 17 9 __ Claude Neon Linbts (n.z.) :..* 2 1 9 Colonial Sugar 42 0 0 42 7 G Consol. Brick & Pipe _■ 0 11 Dunlop-Perdriau 0 16 1 0 10 I Klectro. Zinc (8 p.c. part pref.) :. 1 IS 9 — Howard Smith (ord.) 0 18 0 0 IS 11 X.Z. 2 1 3 — Proceva Bread (ord.) . 2 2 3 2 10 0 Prucera Bread (vender) 2 2 3 2 4 0 Wellington Cordage .. 0 10 3 WHson's (N\Z.) Woolworths (N.Z.) 2 4 u (ord.) 5 1.5 0 G 0 0 United Provisions 0 11 0 Associated News .... — I 5 0 G. ,J. Coles : 3 5 0 3 G 0 Mark Toy (ord.) .'... .1 3 6 General Industries I 0 4 Arnalg. Textiles 0 11 0 Mick Simmons 0 17 0 3Iick Simmons (fully paid) \.... 0 11 3 — Mining - Consol. Goldficlds .... 0 17 0 Mntaki 0 2 4 Okarito Martha 0 5 0 0 (j 3V 1 1 5 0 0 2 0 0 0 AustralianMount Lvell ~ Blount Morpan .' 1 13 1 17 0 1 1 1 IS 6 Peninsula Tin 1 7 t)

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Hig lies t Yield . pri ee. p.c, p.a £ 6 i. d £ a. d. Wellington. Bank' of X.Z. . 2 11 3 3 IS 0 National Insurar: ice .. 0 19 0 3 IS 11 Stli. British Ins. 4 13 0 2 17 4 X.X. Guarantee Corp. 0 5 0 5 0 0 X.Z. Kefrig. (eoi m.) . 0 10 9 Tooth.and Co. . 2 19 0 3 3 10 General Industri ies .. 1 0 W. : 3 2 1 Mount Morgan I 17 10',; i 5 5 7 vSkippcva ■ u 0 4 L nollicinl — Wool worths. Ltd j' 17 3 2 2 8 A ucklai id. I user. Slk., 3Vj p.c. (1939-521 .... 102 Id 0 o It S Inser. btk., 4. p.c. O0.V51 108 7 (i 3 17 8 Auckland Harbor ii% 'i 1-4 P.O.. (1913) .. (.'heh. Transport . .a.n. 4 1 * lOo 0 0 3 0 10 "))..:.' Iin.-)7I .... . .n.u. , 100 0 0 3 13 10 Conun. Hank of Aust. 0 l(j 11 3 8 11 Bank of S.X. . II 3 IS (1 Reserve Hank li I) •1 0 0 >Stli. British Ins 4 13 0 2 17 4 .Mortgage Corp. 0 ~ t s 3 19 4 N.Z. Breweries 2 -1-5 n 2 10 2 Klctl.ro. Zinc. .. 1 1.) V,i ; 2 5 7 Kleetro. Zinc (p; ':ei.)"\ 1 IS 0 ' 4 3 1 Golden Dawn . 0 a Martha 1 1 4 Mataki 1) 3 9 0 Mount Lyell 1 1 0 2 0 0 Christchurcl I. Union Bank ... s ." 9 Ill 0 2 12 7 Conun. Hank of Aust. 0 l(i 10 3 9 3 Bank of X.Z: .. 11 3 3 IS 0 National Insnrai ice .. 0 19 0 3 IS 11 N.Z. Breweries 15 3 2 10 S Kloetro. Zinc (pref.) G. J Coles 1 19 4.10 Mortgage Corpn 3 0 '' 3 3 13 4 o :>• N.Z. Breweries 2 ]!■> 3 2 10 S Timani Brewery (7/6) 0 9 1 4 2 0 Broken Dill Vu '. .. i. o IS 0 3 S 11 Broken Hill Pty . (5s) i s D'nilop-Perdriau 0 1G 2 Mount Lyell . 1 1 fi 2 0 S Mount Morgan 1 IS 0 5 ;*> 3 VJa-H-ang Tin .. 0 fl 0 li. Skippers 0 0 4 Unofficial— Woohvorths, Lt( I. ... 0 16 6 2 2 11 Dunodin. General Industr ies .. 1 0 3 3 1 S Bendigo Goldligl it ... 0 0 4

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£ a. a. 0 16 1 in London. 10 1 lu Australia. 0 lti 2'A ill U.S.A. 0 16 4-1i in Canada, ft » fi = i in Franco. 0 U H in Germany, n '.i 4"i in Java. 1 7 UVi in Japan.

Nov. 18. Per ton. Nov. 19. Per ton. Copper— £ s. d. £ s. d Standard, spot . Ditto, forward Electrolytic .. to Wire bars 35 9 4.V 35 36 30X 39 30 0" 40 0 0 40. 0 0 35 8 li 35 16 3 39 5 0 39 15 0 39 15 0 LeadSpot Forward 18 3 13 3 9 9 18 0 0 18 0 0 SpelterSpot Forward 16 3 16 6 9 3 16 2 6 . 16 5 0 Tin— iSpot .... Forward 231 10 212 10 0 0 228 15 0 212 7 6 Silver— Standard, Fine per o= 29 5-16d 315-Sd 29 5-16d 315-3d