TRADE AND FINANCE

Evening Post, Volume CXXII, Issue 69, 18 September 1936, Page 12

TRADE AND FINANCE

PRODUCE & MARKET REPORTS FROM DAY TO DAY

RESERVE BANK NOTE ISSUELESS STERLING EXCHANGE STEADY The weekly statement of assess and liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday, September 14, showing movements compared with the return for September 7, is as follows: LIABILITIES.

AUSTRALIAN SHARES INVESTMENTS HARDEN (By Telegraph—Press Assn.— Copyright/ SYDNEY, September 17. Investment prices showed a hardening tendency on the Stock Exchange today, the exception being the banking group, values of which shaded. The turnover was heavy. Sales: Bank of New South Wales, £33 2s 6d; Commercial Banking Co. of Sydney, £l9 19s; Commercial Bank of Australia, 18s 6d; Bank of New Zealand, 395; United Insurance, £ll 13s; South British Insurance, 90s; Burns, Philp, 72s 9d; British Tobacco, New Zealand delivery, 43s 6d; Tooheys, 33s lid; G. J. Coles, 82s 3d; Drug Houses, 325; Australian Glass, 95s 9d; Henry Jones Co-op., 435; Fairymead Sugar, 365; David Jones, 45s 9d; J. Fielding, 80s; Meggitts, 26s 9d; Mauri Brothers, 68s 6d; Mark Foy, 33s ljd; Gordon and Gotch, prel, 32s 7d; Victoria Nyanza Sugar, 13s; Woolworths, buyer at £5 7s, seller, at £5 9s; Mt. Morgan, 12s 6d; Mt. Lyell, 29s lOJd; Broken Hill Proprietary, 77s 3d; new, 57s 6d; Broken Hill South, £6 7s 6d; North Broken Hill, £10; Mandated Alluvials, 26s 6d. MELBOURNE, September 17. Industrials were strong, particularly Electrolytic Zinc and Drug Houses. Mining were quiet. Sales: National Bank of Australasia, £5 paid, £7 4s; £lO paid, £l4 9s; Howard Smith, 19s 4d; British Tobacco, 43s 7Jd; Carlton Brewery, 60s; G. J. Coles, 82s 6d; Australian Glass, 95s 9\ Electrolytic Zinc, 43s 9d; pref. 44s 10Jd; Mt. Lyell, 29s 9d; Broken Hill Prorietary, 775; North Broken Hill, £9 19s; Zinc Corporation, 80s 9d; Emperor, 15s 7d; Lolohia, 24s 3d; General Motors, 245; Gordon and Gotch, 51s; Irowat, 2s; "Herald and Weekly Times," 68s; Myers, 355.6 d. PRICE AND RETURN Latest sales reported and made on the Stock Exchanges of the Dominion, with the highest prices and the approximate yields per cent, per annum to investors (all subject to appropriate taxes and exchange where operative), based on the last year's distributions, and considering redemption and brokerage in the case of redeemable securities where dated, were as fol-

Closing sight rates as quoted by the ,Bank of New South Wales, Wellington, ~-today, for buying and selling foreign .currencies, based on New Zealand 'currency, are as follows:

; The above rates are tor on demand transactions. The £1 is £1 in New :' Zealand currency The rates are sub- .: ject -to- alteration without notice. . •Based on the figures quoted by the ■Bank of New South Wales the New; 'Zealand pound, compared with its ■ original par value, is equivalent to approximately:—,

PRICE OF COLD (By Teleerapli—Pres« Assn.—Uopyrrght.l (Received September 18, 13 a.m.') 1 LONDON, September 17. The price of fine gold per ounce, 137s '4d.

a. —Market price- includes accrued interest but not brokerage, d.—Capita] doubled by bonus shares ratio . 1:1. i n.—Position not available. DOLLAR ANDSTERLING By Teleßraph—Press Assn.—Copyrljffct.i (Received September 18, 10 a.m.) LONDON, September 17. Sterling exchange London on New York, 5.06 5-8 dollars.

BANK OF ENGLAND RETURN. (By Telegraph.—Press Assn.—Copyright.' (Received September 18, 11 a.m.) , LONDON, September 17. The weekly Bank of England return is as-follows:

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. Canadian Dollars Dollars (Per (Per £IN.Z.) £IN.Z.) Selling—- ' T.T. 4.058 4.05* On demand 4.06 J 4.068 Buying— On demand 4.10f 4.10g BRITISH WAR LOAN. . (British . Official Wireless.) RUGBY, September 16. The British War Loan, 3J per cent, is quoted at £lO7 7s 6d. PRICE OF SILVER. (British Official Wireless.) RUGBY, September 16. Price of Silver.—Spot, 19Jd per oz; forward, 19 7-16 d.

Ratio of reserve to liabilities 40.51 p.c. The Bank of England discount rate remains unchanged at 2 per cent. JAVA EXCHANGE. (By Telegraph—Press Assn.—Copyright.) (Received September 18, 10 a.m.) BATAVIA, September 17. Sterling exchange, 7.43 guilders to £l. The rate on September 16 was 7.41 j. POLISH EXCHANGE. (Received September 18, 10 a.m.) WARSAW, September 17. Sterling exchange, 26.87 zlotys to £l. ■' _.

STOCK & SHARE MARKET FRIDAY, SEPTEMBER 18. 1936. Morning Call.

per cent, and bonus 1% per cent. Sept. 24 Auckland Farmers Freezing—o per cent per annum Sept. 25 Nemona Dredge—ld per share Sept. 20 Claude Neoni Australia—ls per cent. Sept. 28 Hume Pipe. Australia. Ltd.—s per. cent, per annum Sept. 28 Amalgamated Pictures, Ltd.—halfyearly, 10 per cent Sept. 30 British Tobacco —quarterly. 2 per cent. Sept 30 Dunlop-Perdriau Uubber—s per cent., cum pref., malting 10 per cent, per annum: and 5 per cent., oid Sept. SO United Building Society, Chrlstchurch . , ■ —interim222y 2 per cent Oct. ■ 1 Nestles and Anglo-Swiss Milk—quarterly pref., 8 per cent Oct. . 1 Myer Emporium, Melbourne — final, 3 per cent., with bonus of 6d per share, making SV, per cent." per annum Oct. 1 Australian Knitting Mills—final halfyear, pref. 3% per cent.; ord., 4 per cent., making 7 por cent, per annum Oct. * Lincoln Mills—final pref. 5 per cent., and ord. 8 1-3 per cent. Oct. 2 Bank of Australasia—lnterim, 3s 6d per share or 7 per cent, per annum Oct. 2 Amalgamated Zinc (De BaTay's)— Half-yearly, 5 per cent Oct 9 Wunderllch, Ltd.—lnterim half-yearly, ord. 6 per cent, per annum, Ist and 2nd pref. 6 per cent, per annum, 3rd pref. 7 per cent. P er annum •• • Oct. 15 Imperial Chemical Industries, Ltd.— interim 2% per cent, on ordinary shares. ...;... Nov. Z

MOUNT LYELL SHARES. (By Telefrraph—PrciS Assn.—Copyright.) (Received September 18, noon.) LONDON, September 17. Mount Lyell shares sold at 235.

LONDON WOOL SALES RATES MAINTAINED j (Received September 18, 12.5 p.m.) LONDON, September 17. Offerings at the wool sales today were 11,047 bales, including 5920 bales New Zealand and 9424 bales were sold. An excellent selection was submitted and met with strong competition, especially from the home trade. Opening rates were well maintained. New Zealand slipe, halfbred lambs, "Fairfield," made 17Jd highest and 16 7-8 d average. CROSSBRED TOPS HARDENING TENDENCY (Received September 18, 10 a.m.) BRADFORD, September 17. The Bradford tops market is quiet. Merino tops have an easier tendency but crossbreds have a hardening tendency. Yarns are quiet though crossbreds are still wanted. Latest quotations are'as follows:

CURRENT RATES. Murray, Roberts and Co., Ltd., are in receipt of the following wool market quotations from their London agents, dated September 17, giving opening rates for the . current series compared with closing rates for July last in parentheses:—New Zealand Merino, 60/64's, yielding 48 per cent., none (13d); halfbred 56's, 64 per cent, 12id (Hid); super fine crossbred, 50's, 70 per cent, 10Jd (9Sd)j fine crossbred, 48/50's, mixed preparing and carding, yielding 72 per cent, 93d (9d); fine crossbred, 46/48's, mixed preparing and carding, yielding 74 per cent., 9£d (8Jd); medium crossbred, 44/46's, preparing, yielding 76 per cent, 9£d (8Jd); medium crossbred, 44/46's, carding, 74 per cent, 9Jd (83d); coarse crossbred, 40/44's, yielding 75 per cent, 9Jd (8Jd); low crossbred, 36/40's, yielding 76 per cent, none (7Jd). CROSSBRED TOPS DEARER. Wright, Stephenson, and Co., Ltd., and Abraham and Williams, Ltd., report having received cable advice from their Bradford agent regarding the tops market reading as follows: Merino tons are Jd down, but crossbred tops are from Jd to Jd up. In consequence there is very business in merinos and a fair amount of business in crossbreds. Top-makers are prepared to allow concessions in merinos, owing to'the prolonged quietness of business. BUTTER AND CHEESE MARKETS WEAK AND QUIET (By Telegraph —Press Assn.—Copyright.) (Received September 18, 12.5 p.m.) LONDON, : September 17. The butter market is weak. Danish, 123s per cwt; Australian arid New Zealand choicest salted, 105s to 106s; unsalted 106s to 107s. The cheese market is quiet. New Zealand white 67s to 675.6 d; coloured 65s 6d. No Australian cheese is offering. • • ■ DAIRY PRODUCE SHIPMENTS. ■. The Primary Products Marketing Department informs the j Dairy Board of the following shipments of dairy produce for the month' of August:—

LONDON HIDE MARKET Weddel and Co., London, August 13, reporting on the hide market at that date, remarked:—There is nothing of special significance to mention in colonial descriptions. New Zealand hides are held for last prices, with a few orders coming in all the time. On the other hand, less.business has been done in Australian sorts, except calfskins, which have found a good Continental'demand. "Victorian meatworks calfskins have been • sold at 12d, and New South Wales'at 12Jd. New Zealand freezer calfskins are firm at 13Jd to 14d; Capes.are slow, with current .quotations as previously given. The South American' dry hide market, which was pushed up rather too quickly, has eased off, and quotations are all slightly lower./ The leather position - continues ' satisfactory. Asking prices show decided firmness on the part of the tanners.

SLACKER DEMAND

RABBITSKINS AT DUNEDIN (By Telegraph.—Press Association.) DUNEDIN, September 17. Catalogues were smaller at today's rabbitskin sale, and the quality of. the winter grades offered, was definitely poorer. The, demand for, export to America showed signs of slackening, and all grades of winters were 3d to 6d lower than at the last sale. The following is the range of prices:— Summer broken, to 283 d; second winter broken, 40d to 42d; first winter broken,-50d to 51$ d; runners, 27d to •28id; summer bucks, 29id to 30Jd; does, 30Jd to 31Jd;'.small, l7>Jd to 18Jd; light racks,'33d to 35d; first spotted winter bucks, 108 d to 112 d; does, 70d to 73d; second winter-bucks. 125 d to 126 d; second; winter- does, 78d to 81Jd; first' winter bucks, 135d"t0 138 d; first winter does. 87d to 891 d; prime bucks, 138 d to 139 d: prime does, 91id to 92Jd; outgoing bucks, 89d to 98Jd; does, 60d to 64d; spring bucks, 60d to 64id; does, 40d to 41d;, milky, 32d to 40d; fawn, 30d to 40d; winter fawn, to 70d; summer black, 22d to 23d; first winter black, 81d to 84d; second winter black, 66dt0.68d. . J Hareskins, 32d to 43d; horsehair, to 18Jd. . BEET SUGAR PRICE. By Telegraph—Prens Absii.—dimyriitht' (Received September 18, 11.30 a.m.) LONDON, September 17. Beet sugar is-quoted, at 4s 6d a cwt. THE FRENCH FRANC. (By Telegraphs-Press , *.ssn,—CobyrTghtJ (Received September 18, 10 a.m.) LONDON, September 17. Sterling exchange on Paris, 76 15-16. The rate on September 16 was 76 27-32.

G. J. COLES, LTD,

DIVIDEND AND NEW SHARES The New Zealand Stock Exchange Association is advised by cablegram from Melbourne today, as follows: G. J. Coles and Company announce transfer book closes September 30; interim dividend ordinary shares rate 2& per cent, for quarter ending September 30; dividend payable October 15. Transfer book closes September 30 for new issue ordinary shares -at 40s in proportion to one new share for every 5 held at September 30; payable 20s November 16 and 20s January 16. Posting details to all shareholders. A. W. Coles reappointed managing director and F. P. Derham director. M. B. Moffatt and F. O. Coles resigned from board, September 16. NEW SHIPPING COMPANY. Montreal Australia New Zealand Line, Limited, has been registered as a private company. The following are the names and addresses of the persons resident in New Zealand authorised to accept service of process and any notices required to be served on Montreal Australia New Zealand Line, Limited, a company incorporated in Canada, with its established place of business in New Zealand at Maritime Building, Ballance Street, Wellington: C. M. Turrell, W. E. C. Gregory, A. D. Bayfield, all of Wellington, shipping managers. Capital: 500,000 dollars in 5000 shares of the par value of one hundred dollars each. Objects: To own, maintain, design, build, etc., or otherwise deal with steam, motor, or other ships and incidental. A NEW COTTON FABRIC. Experiments with a special type of cotton grown exclusively in the, Sea Islands (British West Indies) have enabled English cotton spinning experts to make a discovery which manufacturers believe will open up a profitable new market for Lancashire and provide a new dress material at low prices. A yarn spun from a special type of cotton by a secret process produces in the woven fabric an appearance resembling silk. The yarn, which the producers say will yield a fabric as lustrous as satin and as absorbent as wool, is three times as strong as ordinary cotton, but is finer and softer. It can be dyed any shade without special processing, and tests have proved that it is not affected by climatic conditions and laundering, and that it is as durable as linen. MINING NEWS Mount Lyell reports for the fortnight ended September 2: North Mount Lyell —Tons extracted, 5548. Royal Tharsis: Tons extracted, 2516. West Lyell: Tons extracted, 17,612. Prince Lyell: Tons extracted, 2411. Lyell Comstock: Tons extracted, 4412. No. 7 level, No. 2 mullock pass rise to 88ft through low-grade ore. No. 8 level, main crosscut to 118 ft through mineralised schist; north drive to 32ft through ore; main shaft sunk to 57ft below No. 8 level through porphyry. Reduction works: Furnace m blase for full period; 11,116 tons refinery anodes produced for current year. Concentrator: Mill operated 336 hours and treated 30,564 tons ore, producing 2284 tons concentrates. Copper refinery: Tank house in ©peration throughout fortnight, 511 tons cathode copper being produced for period. Total for current year, 12,071 tons. BULOLO GOLD DEPOSITS. Bulolo Gold Deposits, Ltd., is in receipt of advice from the manager of Way, New Guinea, that 13,000 cubic yards of wash were treated during 445 working hours for a recovery of 2070z of- gold. The directors report that the company has taken an option on satisfactory terms over a large potential dredging area at Graytown, V. Arrangements will be made at an early date to carry out preliminary testing operations. Should results be satisfactory negotiations will be entered into for the disposal of the area to the benefit of shareholders. PALMERSTON STOCK SALE. The Dominion Auctioneering Company, Palmerston North, reports a good yarding of all classes of pigs at their weekly pig fair held on Thursday. There was a keen demand for" best weaners and good heavy stores and porkers with only a medium demand for poorer sorts. Realisations were as follows:—Small weaners, 12s 6d, 14s; best,weaners, from 15s; slips, 18s to 225; stores, to 275; porkers, up to 425. There was also a particularly heavy demand for poultry, a large yarding being present with a very keen bench of buyers. Realisations were as follows:—White hens, 6s to 8s; black hens, 7s to 8s 6d; cockerels, 7s to 12s; ducks, 5s to 8s; pullets, 6s to 10s; all prices being per pair.

PRICES OF METALS. (By Telegraph—Press Assn.—Copyright.) LONDON, September 16. The official London (middle) quotations for Wednesday, as reported by the Australian Mines and Metals Association, compare with those pre? viously cabled as follows:

PRICE OF TIN IN NEW YORK. (By Telegraph—Presa Assn .—Copyright.»j (Received September 18, noon.) NEW YORK, September 17. The price of tin is quoted at 42.50 cents per lb. AUSTRALIAN PRODUCE. (By Telegraph—Pres3 Assn.—Copyright.) (Received September 18, 11 a.m.) MELBOURNE, This Day. Wheat, 5s o£d a bushel; flour, £l2 5s a ton; bran, £5 15s; pollard, £6; oats, 2s 4d a bushel; barley, English, 3s 3d to 3s 4d; maize, 5s 2d to 5s 3d. Potatoes, £7 5s to £8 a ton; onions, £l6. SYDNEY, September 17. Wheat at country sidings is quoted at 4s 3Jd a bushel, which is equal to 4s lOd ex trucks. Sydney. Flour, £l2 a ton; bran, £6; pollard, £6 ss; potatoes, Tasmanian, £9 10s a ton; other, £6; onions, brown, £lB a ton; maize, 4s 6d a bushel. ADELAIDE, September 17. Wheat, growers' lots, 4s 8d a bushel; flour, bakers'lots, £l2 5s a ton; bran and pollard, £6 ss; oats, Algerian. 2s 4d a bushel; barley, 2s sd. WHEAT AND PRODUCE. (By Telegraph—Press Assn.—Copyright.) (Received September 18, noon.) LONDON, September 17. Wheat cargoes are firm and dearer. Parcels are higher. Futures. —London, October 35s sid a quarter, January 35s lljd; Liverpool, October 7s Bid a cental, December 7s Bid, March 7s 4 l-Bd. The spot trade is quietly firm. Australian, ex ship, 40s 9d. Flour is firm. Australian, ex store, 28s to 28s 6d. Chicago wheat futures: September, 114 1-8 cents a bushel; December, 113 5-8 cents; May, 112J cents. PRICE OF EGGS. Eggs were quoted on the Wellington wholesale market today at Is and Is Id a dozen, first grade.

General Reserve Bank-notes .... Demand Llabllitie (a) State ... (b) Banks ... (c) Other ... Other liabilities . £ a 1,500.000 0 11,042,300 10 I>.G4G,307 10 6,227,076 1C '" 132,551 2 04,111 4 :. d. S 0 Unchanccd 0 tlS,G51 5 t224,103 3 *154,5S5 0 1123,444 11 fC59 £24.643.307 3 7 t212,331 ASSETS. £ S :. d. £ Reservfi— (b) Sterling ex chance .. Subsidiary coin . Advances to State or State under- . 2,801.733 0 IS.849,074 2 180,022 10 710,200 3 2,035,850 0 G0.42G 18 0 Unchanged 9 *1,S70 0 fl,S20 1 fl,G15 Other assets .... ' £ :24.043,307 3 7 t212,331 tDcc rease ■ ■•Increase. Proportion of reserve (reserve less liabilities in currencies other than New Zealand currency), 93.933 per cent.. : compared ...with 93.070 for the week ended September 7. The return a year ago, as at September 16.. 1935, showed the followng:— Paid-up .capital'.;. Bank-notes Demand Liabllltiei Other Other .liabilities :. ' , 3- s. a. s— Sterling exclian Investments Other assets Reserve to notes i and other de2.S01.732 10 0 1!),DS7,SG3 2 3 2,102,858 11 5 34,030 19 1 80.69 p.c. FOREIGN EXCHANGE RATES

Buying. Sellt ug. 0 3 demanuY On dem and New Zealand on £ s. & £ s d. London—£N,Z to £ atg. 123 10 0 124 8 9 Australia— £A to £N.Z. 101 0 0 100 ID 0 Fiji—£F to £N.Z. 100. . 90 7 6 S9 0 0 New York - Dnllar3 to £N.Z. 1 •4.10% 4.00% MontP'nl- Dollars to £ 4.09% 4.05% Au trla -SclilllinKS to £ N.Z. 1 — 21.15 Bel-rliim—Belgas to £ N.Z. 1 — 23.965 ' Czechoslovakia — Crowns to SN.Z. 1 — 97.52 Denmark—Kroner to £ N.Z. 1 18.263 17.903 France—Francs. to '£ -!:■'-__ ''" •01.56 '"' Germany -Relehmarks to — 10.048 Holland -Florins to £ N.Z. 1 — 5.950 Italy—Lire to £N.Z. 1. — 51.55 Java —Florins to £N.Z. — 5.914 Norway—Kroner to £ 16.241 15.901 Sweden—Kronor to £ 15.845 13.500 ." Switzerland—Francs to — 12.390 Notimea-rFrancs to £ — 60.21 Papeete—Francs to £ — 60.30 Uons Kons—N.Z pence 17 13-10 18% India arid Ceylon—N.Z N pence to 1 rupee 22 3-04 22% Japan;—N.Z penco to 1 — 17 39-04 Shanghai—N.Z pence to 17 11-61 13 11-32 SlnEapore— N.Z. pence to 34 15-64 35 15-32

£ s d. 0 16 1 in liondon. ■■•-. 1 0 1 In Australi 0 16 8In U.S.A. • 0'ie: 7% In Canada. ll 0 11 . in Franco. ' . ■ , 8 11 .1% in Italy. . 0 9 10 In fiermanj .''..':■.'•..'■;■■."■.'0 •'!»■ 9*A In. JaTa*/ .. '■■-,;]..:::■■:■■. I'" TjIO*!-': In: ' < •■ Japan. ;

s. d. 137 6J .... 137 4 137 5 .... 137 6 .... 137 6J 137 7j ..... 137 5J ..... 137 10J September 5, 7 .... ..... 138 14 138 0.J ..... 138 2j .... 138 3 ..... 138 2J .... 138 8 ..... 139 OJ ..... 139 2 ..... 140.4 ..... 140 10 ..... 140 8 .... 141 1J ..... 141 0 . 141 4

Issue Department— Notes in circulation ■-... 444,900,000 Notes in banking dept. 62,000,000 . Other Govt, securities , 248,200,000 400,'J00 400,000 Banking Department3,700,000 14,800,000 102,200,000 38,700,000 Government securities . 81,600,000 Discounts and advances 9,200,000 20,100,000 • 63,000,000

lows:— 1 Highes t Yield. price p.c, p.a. £ ."s, '.d £ a. d. Wellington. Bank of New Zealand .1 19 3 5 1 11 Dominion Fertiliser . 1 4 3 3 14 3 N.Z. Newspapers '•-.../ 2 0 0 3 0 0 Goldsbrough, Mort .. ; 1 14 3 4 1 9 N.Z. Guarantee Corp. 0 5 7 4 9 7 1 17 G 4 5 4 N.Z. Kef rig, 4% p.e. . (deb.) ; ............ 100 15 0 n. 1 15 3 2 16 9 2 2 0 3 5 10 Broken Hill Pty. .... 3 17 1 3 4 10 Dunlop-Perdriau 0 18 3 5 9 7 Alexander Mines 0 14 0 n. 0 12 8 11 16 10 Unofficial — Wool worths, Ltd. .d. 5 8 3 112 4 Auckland. Govt. Bonds, 4 p.c. (1949) ' a. 105 17 C 3 9 3 Inscr. '■■■ Stock, 4 . p.c. (1940) :.........a. 101 15 0 3 9 3 Devonport ; Borough, 4'/i px.- (1938) 100 17 G 3 10 1 Coram.' Bank of Aust. (pref.) 9 2 0 4 7 9 Batik : of. New Zealand 1 19 1 5 2 4 i. 9 6 2 19 7 Farmers' Co-op. Auct. . (£5) .4 8 G 4 10 5 Ditto, £1 0 14 9' 5 8 6 Northern Steam .... 0 5 '&'• — Tooth's Brewery .... 2 10 4 4 8 9 British Tobacco .. .1. 2 2 0 3 5 10 Electro. Zinc (ord.) . Electro. Zinc (pref.) . 2 2 0 4 14 1 2 4 3 4 10 5 Milne & Choyce (deb.) 0 14 0 5 0 0 0 11 11 5 0 8 0 1 V/2 n. Waihi Investments . 0 10 0 — 1 9 5 1 14 0 Unofficial — Woolworths (Syd.) .d. 5 8 6 112 3 Christchurch. Inscr. Stock, 4 p.c. (1940) a. 102 0 0 3 7 9 9 9 6 2 12 9 Comm. Bank of Aust. 0 18 4 3 3 7 Goldsbrough, Mort .. 1 14 0 4 2 4 N.Z. Refrig. _(10s pd.) 0 9 2 6 0 0 2 12 6 2 17 2 Australian Glass 4 14 3 3 3 8 Broken Hill Ptyv 3 17 0 3 4 11 Broken Hill Pty. (15s pd.) 2 17 0 3 5 9 Dunlop-Perdriau .... 0.18 0 v 5 11 1 2 3 0 4 13 0 Electro. Zinc (pref.) . 2 4 G 4* 9 11 4 1 3 3 1 6 0 12 0 5 0 0 Antonio's Hydraulic . 0 0 6% n. 0 12 4 12 3 3 0 1 9 — Gillespie's Beach .... 0 1 •7 5 5 3 1 9 6 1 13 11 Unofficial6 0 8'/ 2 — Shillings, Ltd." 0 14' 5 n. Woolworths (Syd.) .d„ 5 5 0 1 13 4 Dunedin. Govt. Bonds," 4 p.c. (1955) a. 105 10 0 3 12. 4 Broken Hill Pty. .... 3 16 G 3 54 G.J. Coles 4 2 6 •3 0 7 1 13 3 3 13 2 1 9 6 1 13 11 0 12 11 11 12 3 UnofficialShillings,' 1 Ltd. ...... 0 14 5 n.'

Dollars. ... 5.06 ,.. 5.06 3-8 ... 5.06J ,.. 5.06 ... 5.05:} ... 5.05.} ... 5.05J ... 5.04 5-8 .. 5.03 7-8 ... 5.033 September 1, 2, 3 ., ... 5.03 J ,.. 5.015-8 ... 5.013 ... 4.99} ... 4.93 7-8 ... 4.95 3-8

Buyers. Sellers. £ s. d. £ s. d. N.Z. Govt. Loans— 4 p.c. Inscr, Stock, 15/1/1937-40 — 102 0 0 4 p.c. Iuscr, Stock, 15/2/1043-46 103 12 6 — 4 p.c. Inscr. Stock, 15/4/1948-49 — 106 0 0 4 p.c. Inscr. Stock, 15/6/1952-55 105 12 6 — i p.c. Bonds,. 15/4/ 1946-49 — 106 0 0 4 p.c.» Bonds, 15/6/ — 106 0 0 Banks— 1119 0 12 5 0 I'oiiini of Aust. (ord.) — 0 18 5 Comm. Banking Co., Sydney '. 19 0 0 — New South Wales' .... — 32 15 0 — 1 19 6 New Zealand D Long — 19 6 9 9 0 9 10 6 FinancialAbraham & Williams (pref.) — 4 10 0 Equitable Bldg. Co. .. 0 10 3 — Ooldsbrough, Mort, & Co. 1 14 3 1 14 4 N.Z. Guarantee Corp. 0 5 0 0 5 8 N.Z luvest. Mort. & Dep. — 0 9 3 N.Z. Loan and Merc. (ord. stock) 32 0 0 40 0 0 N.Z. and River Plate 0 13 0 •— Wgtn. Invest. T. & A. — 0 9 6 Gas- — 1 8 3 Wellington (ord.) .... — 1 18 C Insurance— NationaLof N.Z. ...... 0 18 2 — — 3 3 0 Maat Preserving— — .0 18 9 N.Z. Refrig. (£1) ... — 0 19 9 N.Z. Refrig. (10s) .. 0 9 0 — 3 13 0 3 15 0 Transport— Huddart Parker (ord.) t — 1 16 3 Huddart Parker (pref.) ..t 16 3 — Union Steam (pref.) . 16 4 — WoollenBond's Hosiery Mills — 0 19 0 110 12 0 Prestige, N.Z. (pref.) — 13 9 Wellington (ord.) —. 6 7 0 Wellington (pref.) .... — 0 7 0 Coal— Westpbrt - Stockton. (pref.) — 0 3 0 — 0 14 0 Timber— 110 13 0 0 13 9 0 14 6 0 11 6 — , Taupo Totara (ord.) . , — 0 10 6 BreweriesI'll 3 — — 2 13 0 — 2 16 4 2 9 9. — Miscellaneous— Anthony Hordern ... 0 19 0 ' _ 4 15 0 Brit. Tobacco (Aust.)* 2 2 9 2 2 11 Broken Hill Pty 3 16 0 3 16 6 Broken Hill Pty. (contrib.) 2 16 3 2 17 0 Burns, Philp, and Co. — 3 12 0 Colonial Sugar. ...-....' ' —' 43 5 0 Consol: ■■-.', Brick and 'Pipte-v : .'-. .•■.■.., .■.:.'..'.■..■.'■:-:. 09 4 — Dominion 'Fertiliser . ■•_'■ 14 9 Dunlbp-Perdriau :...* 0 18 0 0 18 2 Electro. Zinc (ord.) . 2 2 0 2 3 6 Electro Zinc' (8 p.c. 2 4 0 2 4 9 General Industries .. — 0 19 0 G. J. Coles (cum 4 0 9 4 2 0 0 19 6 10 0 N.Z. Drug • 3 15 0 — N.Z. Paper Mills .... 10 3 — — 0 16 Victoria Laundry .... 0 19 4 — — 0 10 0 Minini— Argo ..' * —- 0 1 11 — 0 1 11% Gillespie's Beach .f — 0 18 — 0 13 0 0 7 — — 0 16 Paddy's Point .... — 0 3 3 Australian— 1 9 -Z 1 9 9 0 12 4 — UNOFFICIAL LIST. Buyers Sellers £ s. d. £ s. d. Woolworths, Ltd. ... 5 7 6 5 9 6 Woolworths (W.A.), Ltd. - — 5 17 0 Dominion, Life, 10s shares, 6s paid — 0 7 0 N.Z. Farmers/ Dist., 0 11 6 Shillings, Ltd. (15a 0 14 3 — '• BUSINESS TRANSACTED. Sales today:— No. of Shares. £ s. d. £500 Auckland City, 4 p.c, 1963 100 British Tobacco 2 2 9 Sales made after goi day:— No. of rig to pre ss yesterShares. £ 8. d. 100 Bank of New Zealand" . 1 19 3 500 Guarantee Corp 0 5 7 200 South British . 4 9 6 £400'N:Z. 'Refrig., 4% p.c. Debentures 1Q0 15 0 200 Dominion Breweries .. 111 C 100 Staples 1 15 3 50 Broken Hill .. 3 17 1 200 Alexander Contrib 0 14 0 100 Mount Morgan 0 12 8 UNOFFICIAL LIST. Sale today:— No. of . . Shares. £ s. d. 5 8 0 Sales made after going to press yesterday:— 40 Woolworths. Ltd. 8 3 *Cum Div. +Ex Div.

DIVIDENDS DUE. Broken Hill South—quarterly, 2s 6d Sept. 18 Kalapol—ord. 5 per cent., pref. 5 Sept. 10 North Broken Hill—dividend and Sept. 21 Argo Gold Dredge—Id per share .. Sept. 21 Kempthorne, Prosser, and Co.'s N.?. Drug Company—Interim 3'A per Sept. 21 Eenown Collieries—ord. lOd, final pref. Sept. 21 Whlttome, Stevenson, Auckland —5 per Sept. 22 Milne and Choyce, Auckland—ord. and Sept. 23 Bartholomew Timber, Hamilton —2 Vi

Merinos.' Aug. Aug. Sep. Sep. Sep. 20. 27. 3. 10. 17. d. d. d. d. d. Seventies . ... 34 34 34 34 334 Sixty-fours .. 32J 324 324 324 32 Sixties .... .. 31J 31* Crossbreds. 314 314 31 Fifty-eights . 254 254. 254 254 254 Fifty-sixes .. 204 204 204 204 204 .. 16 16 16 16 16 Forty-sixes . 14i 14| 14J 14i 14 Forty-fours .. 134 134 134 134 134

193G. Tons. 1935. Tons. 10,040 Of this quantity for the current season 9904 tons was for the United Kingdom and the rest for other countries. ' 1933. 1935. Tons. 5.492 ,AH but six tons of cheese shipped during August was for the United Kingdom. The estimated stocks of butter and cheese in the United Kingdom as at September 1 are reported as fol1930. 1935. New' Zealand butter' afloat and in New Zealand ' .. 19.1S0 30,500 17,700 New- Zealand' and 'Australian 8,845 2,382 8.511 Now Zealand cheese ' afloat and in Now Zealand ... 12,909 11,227 12,021 Total In sight,' tons .... 21,420 23,248

Sept. 15. Per ton. Sept. 16. Per ton. Copper— Standard, spot Ditto, forward Electrolytic . to Wire bars ... *£ s. d. 39 1 10£ 39 6 10£ 43 10 0 44 0 0 44 0 0 £ s. d. 39 19 4J 39 3 1* 43 5 0 43 15 0 43 15 0 LeadForward .... 18 10 0 18 8 9 18 ,11 3 18 10 0 SpelterForward .... 14 6 3 14 11 3 14 8 9 14 13 9 TinForward .... 196 15 0 193 17 6 194 10 0 191 7 6 SilverStandard, per oz 19 7-16d Fine 21d 19Jd . 21-l-16d