STOCKS AND SHARES

Evening Post, Volume CXXII, Issue 70, 19 September 1936, Page 12

STOCKS AND SHARES

GILT-EDGED FIRM SALES OF THE WEEK ''Evening Post," September 19. Business'spread over the Stock Exchanges of the Dominion this'week has been active with a relatively, heavy turnover. Prices, however, keep firm for Government Stocks and Bonds and for, bank and insurance companies' shares:;. At the same time .there are .'unmistakable signs, of nervousness oh the .part of some . holders of shares •which. hitherto were regarded in the light of savings and were generally strongly held, .although giving a com...parativelyjsmall .return on market ' prices. ■ Investments ;• of the class in review- used ,to be: regarded as-non-; speculative; and, movements in their prices, month in, month out, were but small.. They constituted a'large-part of the'cap'ital of people of quite moderate means, and generally were held in small parcels in the -same hands for. years,, with every confidence ,in their always being worth the money —if not more—that they cost.. Some shareholders in this class are undoubtedly selling their holdings at a sacri•fice. ' On the other hand, there seems 'to sbe.ho scarcity'of buyers for. semi-gilt-edged-investments, as there', is for -Government'. loans. , Although the- attention -of -investors is still,.,directed- towards Australia, it is f ocuSsed' upon but a 'few -of the enterprises • in that ■ country, - chiefly on . Broken Hill Proprietary and two department store companies, and there has also been ~" a brisk turnover of Electrolytic Zinc shares at advancing .prices. Otherwise New Zealand interest in Australian shares appears to. havp been ho keener nor more diversi-" fled 1 than usual; > WELLINGTON SALES. The business done' on-the Wellington Stock ■ Exchange this week to noon yesterdfay was ■ approximately as fol- . lows: — \

': The total sales of bank shares on the Wellington Exchange included 900 ordinary' shares of the Bank of New . Zealand.' ' ' ' i , _, ' .Transactions in Government Stocks. and r 'B"onds have been on a moderate "scale, arid the Dominion market for these investments remains ■ steady. Sales.reported were as, follows: 3i per dent. Stock (1941-43). £lO3 1 15s; 3i_per cent. Stock (1938-52). £ 4 percent. Stock (1940), £lOl-15s, £lO2, £lOl 15s;,and Bonds,:\£.lol 17s 6d, .£lOl 15s;' 4 per .cent. Stock (1946), £lO3 15s, and Bonds, £lO3 17s' 6d; 4 per-cent. Bonds (1949), £lO5 17s 6d; 4 per cent. Stock (1955), £lO5 17s 6d, £lO5 15s; and Bonds. £lO5 15s, £ 105 10s. ■. n .. : -#,.- + . There' were sales of 3» 3-8 per -^ent. Mortgage Corporation Stock at £9B. Inquiries for: local body debentures were few and ; .far .between, with a readiness of holders to do business. ' Buyers .of ;4J per cent. LytteltorrHarbour, Board (1938) bffered £lO2 10s. and there were sellers at £lO3. Sellers of local loans .quoted freely,-but buyers were: exceedingly shy. _ ~ ',-. Company debentures' inquired for included 6i per; cent. Gisborne . Sheepfarmers (1941) at' £9B arid 7* per cent. Amalgamated Brick, Auckland (1944), at £99 10s. Sales of local body and company debentures were reported as follows:

4i per cent. Devonport Borough (1938), £IOO 17s 6d. 4i per cent. N.Z. Farmers Cooperative, Christchurch (1940), £9l 10s; 4i per'cent. N.Z. Refrigerating Co., £IOO 15s.

The-bank-share market was, fairly busy .this week. Among those shares wanted and of which no sales": were recorded may be : mentioned Bank of; Australasia (cum dlv.) at £ll 18si to £l2, with sellers quoting down to .£l2 ss.- Bank of Adelaide had. buyers at £5 lis, with sellers asking £6 2s 6d. Commercial of Sydney were in demand at up to £l9 7s 6d, with holders demanding £l9 17s 6d. There'; was considerable selling of Bank of New Zealand shares at prices ranging from 39s Id to 39s sd, with a weaker note struck at the close of.business yesterday. The Long-term Mortgage, issue of the Bank of. New Zealand were available at 29s 6d, with buyers, at 28s to 28s 6d. Bank of New South Wales firmed upon the week. Commercial, of Australia were steady, with buyers of taee-4 per cent, preference shares in this institution at £9 Is and sellers at •■' £9 4s. ■- Sales of bank shares as reported were as follows: Bank of New-Zealand, 39s 4d, 39s sd, 39s 3d, 39s Id, 39s 2d, 39s 3d, 39s 2d; Bank of New South Wales, £32 10s, £32 7s 6d, £32 15s; Commercial Bank of Australia, 18s 3d, 18s 4d, 18s sd, 18s 4d, and (pref.) £9 2s 6d; English, Scottish, and Australian Bank, £5 18s,' £5 17s 6d; National Bank of New Zealand, 60s; Union Bank, £9 10s, £9 10s Bd, £9 9s 6d. ! Insurance shares remain steady on a featureless market., Mercantile Mutuals (16s) were inquired for at 30s 3d, but I sellers did not quote below 37s 6d. Uniteds '(£s) were to be bought for £10.12s 6d, and Standards for 61s 6d. There were no buyers for Queenslands at 61s 6d. Sales of insurance companies' shares were reported as follows: — National Insurance, 18s 3d; N.Z. Insyrance, 62s 9d, 635, 62s 6d; South British, 89s 6d, 89s 3d. Stock .and station company shares had a moderate inquiry with buyers of Dalgetys at £8 17s 6d and sellers quoting from £9 7s to £9 7s 6d. Newton King (pref.) were wanted at 7s 9d. New Zealand Loan and Mercantile (ord.) had buyers at £32 to £32 10s 6d, but no lower sellers than £35. There was a sharp rise in Goldsbrough Morts. In the financial section it, has to be reported that there was a good turnover in New Zealand Guarantee Corporation at 5s 7d. Equitable Buildings were wanted at 10s 3d and buyers of Wellington Trust Loan offered £5 Bs, to which sellers replied with a quotation of £5 13s. Sales in. this section were reported as follows: — Farmers' Auctioneering (A pref.), 22s 6d, and (£5 paid),'Bßs. 6d, and (£1 paid) 14s 9d; Goldsbrough Mort, 33s 6d, 33s 7d, 33s Bd, 33s 9d, 345, 33s lOd, 345, 34s 3d, 33s lid, 34s 2d, 34s 6d, 345, 34s 3d; N.Z. Guarantee Cor-

poration, 5s 7d; .Traders' Finance (7s 6d paid), ss, 5s lid; United Building, Auckland, 20s 9d. COAL, GAS, AND OTHER.

The coal share market was slack, but there were still buyers of Kaitangatas at a guinea, with no disclosed sellers. Taupiris" were inquired for at 16s 6d, sellers asking Is above that figure. Little or 'no interest was shown by 'buyers, of coal- Shares apart from Westports, in which, some business was done. Sales' were as follows:—r-

Westport Coal, 235. ; ... . . Gas shares were on a dull market', and appear to be.generally neglected. Sales,\£gre reported.as follows: —

Auckland Gas, ord.. 235; Wellington Gas (ord.), 37s 6d. • •

I Shipping shares ■ wanted included Huddart, Parker (ex div.) at 34s and P. arid O. at 30s. A fairly large parcel of Union Steam Ship preference changed hands during.the week. Apart from this, there was but very little interest shown in- the shipping share market. Sales were reported as follOWS'.r- .

Northern' Steamship, 5s 9d;. Union "Steam Ship (pref.), 265, 3d, 26s 6d. . Freezing company shares had rather better inquiry this week with buyers of Waitakis at 79s and sellers at £5; Canterburys at £9 2s 6d and sellers at £9 12s 6d. North Canterbury. l ; were wanted at 32s 6d. sellers asking 375. South had buyers at 73s.with sellers asking 775. Gears declined to buyers at 17s 6d. and business done at 18s. Sales were as follows:

Gear Meat. 18s; New Zealand Refrigerating (10s pd), 9s, 8s lid, 9s 2d, and (£1 pd:), 19s 6d, 19s 4d, 19s 7d. 19s :2d.

Textiles • were, generally quiet.' Wellingtons had no sellers below £6 7s, but buyers were inconspicuous. Yarra Falls were inquired for at 38s Gd. Sales were as follows: Kaiapoi Woollen-(10s paid), 9s, and (7s paid) 6s 3d, and (17s paid) 15s 9d,

Ids lOd; Oamaru Woollen. 21s 6d. Brewery shares kept fairly ■ steady, with" unsatisfied buyers of Tuis' at 50s, Swans (255) : at £7, and Melbourne Co-op. at 465. Sales were as under:— ■ Dominion Breweries, 31s 6d; New Zealand Breweries, 52s 9d, 52s 3d, 52s 4d, 52s 6d; Staples, 35s 3d; Tooth and C0.,56s 2d, 56s 3d, 565, 555-9 d, 55s Bd, 56s 3d, 55s 9d, 56s 4d; Tooheys. 33s 3d. ■,.;•..•■■ The timber share market was quiet, with sales reported as follows: Kauri Timber, 23s lOd, 24s 3d, 245; National Timber; 13s lOd, 13s lid; Taupo Totara (pref.), 19s. . MISCELLANEOUS.

, The divergence »of opinion on the directorate. of' G. X,.' Coles and- Co. is believed to have, had some influence on-the market for. these shares, but they showed a decided : improvement: towards the end- of the week. Information has been received of the payment of a quarterly- dividend of 2£ per. cent., and of .the issue, of. new shares at £2 each in the proportion of one to five. '

The strong demand.for Broken Hills,! continued, with slackening towards the; close of the week. ''■-,•■

Electrolytic Zincs showed rises of up to 2s 6d per shire on the ordinary and Is on the preference ■ issue. Woolworths,. .Ltd.,. .Sydney, , declined ,2s. Sales in the .miscellaneous section this week were, reported, as follows: . Anthony Horderp, 18s 7d, 18s lid, I,Bs 8d; Amalgamated: Wireless (£1 paid), 495. '6d; and ..(con.) 40s;l Aus'r tral&n Glass, 93s 9d, 945, 94s 3d. '-' Broken Hill Pty.. ; 77s, 77s 9d. ; 77s 6d, 77s 3d, 775,-77s 9cV 78s 6d; 78s sd,

9d, 77s 6d; 775,-77s Id, 76s 6d,: 765;3d, and; (15s paid), B6s 9d> 56s 6d, 57s 2d, ,575;-British Tobacco, ,425, 42s 3d, 42s 4d, 42s ,'6d,.42s 3d, 42s 4d, 42s 6d; Bycroft, 41s .-.6<L. ; ,.'..•',. Cash Orders, Amalgamated (pref.), 30s 6d;; Consolidated Brick and :Pipe, 9s '4d. 9s'6d, 9s scir Colonial Sugar, £43. 2s 6d, £43, £43s ss; Claude Neon,* Sydney,- 51s ■ sd;. ••, . • Dominion; Fertiliser, 24s 3d; Diiri-lop-Perdriau Rubber. 18s 2d, 18s 3d, 18s Id, 18s, 18s 3d, 18s Id. . Electrolytic Zinc (ord.), 40s 6d, 40s 3d, 40s 9d,'4os Bd, 41s 6d, 41s, 42s 3d, 41s 9d,-41s lOd, 42s 6d, 42fc lOd, 435, and (pref.), 43s 6d, 4*5 sd, 43s 6d, 43s 4d, 43s 9d, 43s 7id, 43s lid, 445, 44s Id, 44s 6d, 44s 4d, 44? 3d, 44s 6d, 445. sd, 44s 4d. Farmers'"Trading (A pref.), 225.: G. 'J. Coles, 80s, 81s, 80s 3d, 79s 9d, 81s, 80s 9d, 80s Bd, 81s 6d,'Bls 9d, 81s 3d, 82s 6d, 82s sd,' 81s 3d, 81s, 82s'3d, 82s 6dr General Industries, 19s. 19s 4d. - Henry Jones Co-0p... ..425; Hume Pipe (Aust.), 19s 7d, 19s Bd, 19s 9d. McLeod Bros (old), £32; Milne and Choyce (B pref.), 23s 6d; arid (debs'.), 14s and tord.), 14s 9d; Mort'sDock, lis lOd, 125.-lis lid. . New Zealand Newspapers, 40s, 40s 2d, 40s; National Electric, 13s Id, Sulphide Corporation, 16s 9d. Wilson's Cement, 36s 3d, 36s Id; Wilcox Mofflin; 12s 6d, 12s sd; Wairakei, 6s; Woolworths (N.Z.), £5 Is 6d, £5 ls9d, £5; Woolworths (Syd.), 2nd pref., 25s :7d, 25s lOd. Unlisted:—6£ per cent. Auckland Trotting Club (1944), £lOl 10s; Shillings; Ltd., 14s sd, 14s-6d; Selfridge's (Australasia), 28s 3d, 27s 4d, 28s 6d, 28s, and (new) 275, 27s sd, 28s, 275; Thyro'done Development, 32s 9d;

Woolworths, Ltd., £5 9s, £5 9s 6d, £5. 9s Bd, £5 9s, £5 10s. £5 8s 3d, £5 ss, £5 8s 3d, £5-Bs,- £5 7s. MINING AND DREDGING.

Sales in the mining and dredging section were not numerous but were well spread. Mount 'Morgans showed weakness and have declined sharply. Mount Lyells have also fallen back after rising from 29s to' 29s 6d. The business reported-as done in this section was as follows: •

Antonios, 6Jd; Argo Gold, Is 9d, Is 9|d; Alexander (con.), 14s; Golden Crown, 4s 6d; Gillespie's Beach, Is 6d, is 7d; King; Solomon, Is Id; Martha Mine, 18s 6d; Mount Morgan, 13s 2d, 13s Id, 13s ljd, 13s Id, 12s lid, 12s lOd, 12s 9d, 12s Bd, 12s 6d, 12s sd, 12s 4d, 12s.lid. 12s Bd, 12s 4d, 12s 6d; Maori Gully, 7sd; Mount Lyell, 295, 29s Id; 29s 3d, 29s 2d, 29s sd, 29s 6d, 29s 4d; Mataki, Is ljd; Nembna, Is 9d; Okarito. ss: Rawang Tin, 9s 2d; Skippers, 4d; Wa'ihi Invest, lis, 10s 10d,10s 6d, 10s; Worksop Extended, Is lOd. Unlisted:—New River, BJd. 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 4.051 , 4.05J On demand ........ : 4,Q6§ 4.06| Buying— On deniand '.... 4.10f ■■ 4.10§ JAVA EXCHANGE. (By Telegraph—Press Assn.—Copyright.) (Received September 19, 10 a.m.) BATAVIA, September 18. Sterling exchange, 7.42J guilders to £l. The rate on September 17 was 7.43. BRITISH WAR LOAN. (British Official Wireless.) . RUGBY,, September 17. The British War Loan, 3i per cent., is quoted at £lO7 10s. PRICE OF SILVER. (British .Official Wireless.) RUGBY,'. September '17. ; Price of Silver.—Spot, 19 7-16 d per oz; forward, 19 7-16 d.

. PRICE AND RETURN ■ln the table hereunder are recorded the latest notified sales on the Stock Exchange, with the approximate yields per cent. per. annum— redemption and brokerage being considered on Government and other debentures where dated. Returns are based on approximate orices reported for the week ended noon yesterday,: and the last annual distributions, plus bonuses, if any. The 3i per cent. Government Stock and Bonds-are free of income tax to their preconversion maturity dates, but all yield? are subject t> any appropriate taxation and exchange. . ' , • '.

DOLLAR AND STERLING By Telegraph— iTeat Asem.—Copyright.) t (Received September 19, 10 a.m.) i • LONDON* September 18. Sterling exchange London on New York, 5.06 5-8 dollars. > ■ 1

PRICE OF COLD (By Telegraph—Press Assn.—Copyright.) (Received September 19, 10 a.m.) LONDON, September-18. The price of fine gold per ounce, 137s sid.; ; .

THE FRENCH FRANC. (By Telegraph—Press Assn.—Copyright.) (Received September 19, 10 • a.m.) LONDON, September 18. Sterling exchange, on Paris, 76 29-32. The rate on-September 17 was 76 15-18. ...•-■ ■ • '

PRICE OF EGGS. Eggs were quoted 6n the Wellington wholesale market today at Is and Is Id s . dozen, first. grade. >

,' ', -No. Amount £ Government loans •.. Municipal! debentures ' _■■ 1,640 — Company 'debentures — 400 1.225 3,830 150 469 1,000 279 400 684 3.090 6,028 1,480 5,205 100: 176 1,300 100 1,722 , 187 1,600 3,310 1,050 . 512 11.495 . £24,942

INVESTMENT. Last Approx. price Approx. price Yield ■ div. last week. this week. p.c. p.a. p.c. p.: a. . £ s. d. £ 8. d. £ s. d Government Loans— . . . Stock (1939-43) .'. :.;...'.'.-'. .a. 3% '103 15 0 -r3 6 6 Stock (1938-52) • •'.- .a. 3% 103 15 0 103 15 0 3 10 0 Stock (1939-52) .: ... 3% 103 15 0 — 3 9 10 .a. 3% — 103 15 0 3 4 4 .a. 3% 102 0 0 — 3 8 0 .a. 4 101 15 0 101 15 0 3 9 0 .a. 4 103 15 0 103 15 0 3 8 8 Stock (1949) ..a. 4 , 105 17 6 105 17 6. 3 9 3 .a. 4 105 17 6 105 15 0 • 3 10 7 • Bonds (1940) ....: Bonds (1946) .a. 4 .a. 4 101 15 0 101 15 0 103 17 6 3 9 6 3 8 9 Bonds (1949) .a. 4 : — 105 17 6 . 3 9 3 ..a. 4 —. 105 10 0 3 12 4 ... 3% . — 98 0 0 n. Loeal Bodies Debentures— Devonport Borough (1938) .... .a, 4'i . — 100 17 6 3 10 1 Auckland City (1963) .a. 4% — 104 10 0 3 16 11 Auckland Harbour (9/7/1937) ... . a. 4 hi — 101 0 0 3 5 0 Company Debentures— . N.Z. Farmers' Co-op. (1940) .. .... 4*4 91 5 0 •-. 91 10 0 100 15 0 6 17 10 ... i-A ' n * Banks- ... 10 ' 1 19 5 .1 19 2 5 2 1 Bank of N.S.Wv £20 .. 5 32 10 0 32 15 0 3 10 .. 5 5-6 0 18 3 - 0 18 4 3 3 7 ,4 7 9 2 11 0 3 6 8 3 12 5 Com'm.of. Aust. (pref.) (£10) ... 4 - -— 9 2 0 E.S. and A., £5 (£3 pd. )..... .. s. 5 5 17 6 5 17 6 Nat. of X.Z., £7 10s (£2 10s pd.; ) s.' 4 .... 5% 14 10 6 3 0 0 .3. 5 9 10 0 9 9 6 2 12 9 Breweries— ... 6% — 1.10 0 4 6 8 ...." 6% 1 10 0 1 11 6 4 2 7 ..... 7% 2 12 9 2 12 6 2 17 2 .... 5 1 15 9 1 15 0 2 17 1 Timaru, 10s (in liquidation) ... \'i'.' 7% 0 3 0 1 13 3 3 13 2 .b. 12% >2 16 3 2 16 4 4 8 9 Coal— • .... 5 0 17 0 — 5 17 7 ...10 1 3 0 13 0 4 6 11 ... — 0 16 — — Westport-Stoektou (pref.) ... — 0 2 8 — Finance and PastoralCanterbury Farmers (£2 10s) (pref.) 5 2:0 0 — 6 5 0 Equitable Bldg., £1 (14s.pd.) .., .... 4 0 10 6 — 5 6 8 .... 4 0 14 6 - 0 14 9 5 8 6 Farmers' Auction'g, £5 ...... 5 4 8 - 0 4 8 6 4 10 5 Farmers' Auction'g (A pref.), £1 . 5 — 12 6 4 8 10 .... 7 1 13 9 1 14 3 4 19 ... — 0 7 0 — — N.Z. Guarantee .Corp., 3s . 9 13-18 0 5 7 0 5 7 5 4 6 Traders' Finance (7s : 6d pd.) — .... 2% 0 5 0 0 5 |1% 3 IS 2 Traders' Finance (17s 6d pd.) ... 2% ; 0 12 3 ■ — 3 11 5 United Building, Auckland (£1) 5 10 9 — 4 16 4 GasAuckland, £1 ... 5% .1 3 0 13 0 4 15 7 ... 8 — 1 17 6 4 5 4 Insurance— . 10 5-7 0 18 3 — 4 2 2 .. 10 3 3 0 3 2 6 3 4.0 .. 13 1-3 4 9 0 4 0 3 2 19 9 MeatGear, 10s .. .. 7% 0 18 0 4 3 4 XZ. Eofrig., £1 ... 5% — 0 19 6 5 12 10 S Z. Refng. £1 (10b pd.) .... .. 514 0 9 2 0 9 2 6 0 0 N. Canterbury, £5 (£3 pd.) ... ... — 1 17 6 — — Mining- > Alexander (con.) '0 14 0 n. 0 1, 9 n. ,, 0 1 11% n. , -a. 0 4 6 0 4 6 n. ..' 81-3 0 1 6 0 16 5 11 1 ...' — 0 1 1 0 1 1 n. Mataki, 2s '. .. — 0 1 2 0 1 1% u. ..'30 0 18 6 8 2 2 Mt, Lyell, £1 ,.. 2.% 1 8 9 1 9 4 1 14 1 .. 60 0 13. 2 0 12 6 12 0 0 Okarito . . .: . — 0 5 0 ...20 0 8 9 11 8 7 .. — .0 9 2 — n. — — 0 1 9 4 15 3 .. 30 0 1 11 0 -1 10 16 7 3 .. — 0 11 0 0 10."0 n. Shipping- ... 0 1 .2 0 ' 4 10 10 ,. — — 0 5 9 — .. 5% 1 6 5 1 6 3 4 3 10 Timber— - .. 5 1 3 10 14 3 5 3 ,1 National, £1 .. 5 0 14 1 0 13 11 7 3 9 laupo Totaia, £1 (ptef.) r. 7 — 0 19 ■■ 0 5 17 11 Taupo Totara (pref., 18s pd.) ,. ,r..' 7 — 0 15 0 5 19 6^ Textiles— .. 5 0 15 10 0 15 10 5 7 4 Kaiapoi, 7s .. 9 — 0 6 3 5 12 0 r. 6 0 18 3 — 4 13 2 .. 2% 1 .1 6 1 1 3 2 7 0 MiscellaneousAnthony Hoi dern, £1 . 2 0 18 7 0 18 8 2 2 10 Aust. Iron, Steel (pief.), £1 . p. 7% 1 6 3 — PAustralian Glass, £1 .. 15 4 12 9 4 14 3 3 3 8 Amalgamated Wireless, £1 ...10 2 9 6, — 4 0 9 Amalgamated Wireless (16s pd.) .. 10 — 2 0 0 3 10 0 Bi ltish Tobacco, £ 1 . ... .. 6 2 2 3 2 2 10 3 5 4 Broken Hill Pty., £1 .. 12% 3 17 9 3 17 6 3 4 6 Broken Hill Ply, New . 12% 2 16 9 2 17 0 3 5 9 Bycroft, £1 .f. 12% 2 1 6 2 16 3 17 1 " Cash Orders' Amalg. (pref.) ... .. 9 110, 6 1 10 6 6 U 0 Claude Neon (Syd.), £1 .. 10- — 2 11 n 5 16 8 Colonial'Sugar, £20 .. 6>i 43 2 6 43 5 0 2 17 9 .. 2 0 9 4 0 9 0 4 4 2 .. 4% 1 5 3 14 3 3 14 3 ..<. 5 0 18 2 0 18 0 ' 5 11 1 .. 10 2 0 9 2 3 9 4 11 5 Electro. Zinc (pref.) £1 .. 10 2 3 6 2 4 0 4 9 10 1 Farmers'Trading (A pref.), 17s .. 53-5 12 0 12 0 .5 1 9 ... s ■ 0 18 8 — '5 7 1 G. J. Coles, Ltd., £1 ...12% ; 4 10 4 0 9 3 111 .. 10 0 19 0 .0.19 i 6 9 4 Hay's, Ltd.,. £1 (15s pd.) ... ... 5 0 15 0 — 5 0 0 ;.. ,8* ' v 2 2 0 ' 4 3 4 ... 5 . • 0 19 6" •0 19 8 5 1 7 .. 8% 2 3 6 4 0 5 ,..' 3% ' • 0 14' 9 ' 0 14 9 4 14 10 Milne:and Choyce :(B pref.) .... ... • 7 - 13 6 5 19 .1 .... 3% . .0 14. 0 5 0 0 .. 6 0 11 6 0 11 11 S'.O 8 MeLeod Bros.-(old). £10 ... 12% , 32 0 0 3 18 1 N.Z. Farmers' Fertiliser, £1 .. .. 0% 10 9. ' — 5 0 0 .. 6 2-0 0 '200 3 0 0 .. 3 0 12 11 0 13 : 1 4 11 10 Northern Roll.' Mills, £1 , , .. 544- : 15 0 4 8 0 ..• '4% : — - 0 16 9 4 0 7 ... 2 '0 12 6 • :• 3 4 0 .. 5 1 0 0 • 5 0 0 .c. 14 ■5 2 B 5 0 0 2 0 0 .e. 15 1 16 2 1 16 1 4 3 1 Wilcox Mofflin (lis) ........... :.. 9 ' 0 12 8 ' 0 12 5 8 1 0 ... ;5 ' 0 6 0 0 6.0 4 3 4 Unlisted— ... 6% _ , 101 10 0 . 6 2 5 ... 15. ' 3,,5 6 ' 4 11 7 ... — ' — 1 12 9 n." .'.. —. 1 7 .4 18 0 n : . ,'. — 1 '7 0 1 7 0 n. Sclfridge's (Aust.), contrb. .... .... — 0 12 9 — ■ • n. Shillings, Ltd., £ 1 (15s pd.) ... ... — _ 0 14 5 r>. Wool worths,. Ltd. (Syd.), £1 . .d. 17% 5:9 0 5 7 0 1 12 8 Woolworths, Ltd. (2nd pref.),. £1 7 - —. . 1 5 10 • 5 8 4 .. .— ■0-6 3 . — • - n. a. —Market price includes accrued interest but not brokerag e. .. b.—Includes' bonus. c—Capital increased by bonus shares 2:5. d.—Capital doubled by issue of bonus s hare«-l:l. e.—Excludes Jubilee .bonus, Ss pe ir share. f.—Capital increased by bonus ,'shares 1:4. ■ • - i.—Interim dividend increased. n.—Not available. p.—Dividend in arrears. r—Reducible by 20 per eent.,min. 5 per cent! (N.E.A. Aat)., a.—Paid' in sterling. ' - . ,

Dollars. September 17 ..... .. 5.06 5-8, September 16 . .. 5.06 September 15 .. 5.06 3-8 September 14 .. 5.06J September 12. . .. 5.06 September 11 ...... .. 5.053 September 10 ..... ..-• 5.05} September 9 .. 5.05J- ■ September 8 .. 5.04 5-8 September 7 ..... .. 5.03 7-8 September 5 ..... .. 5.03J September 1, ,2, 3 . .. 5.03J August 1 .. 5.015-8 July 1 .;.; ... 5.01} June ' 2 ... 4.991 ■■■ May 1 .. 4.93 7-8 April 1 ........... .. 4.95 3-8

s. a. ....137 4 137 6i .... 137 4 137 5 .... 137 6 137 64 ..... 137 l\ .... 137 5i 137 101 September 5, 7 .... .... 138 if 138 Of 138 2J 138 3 ..... 138 2J ..... 138 8 ..... 139 0) ..;.. 139 2 ..... 140 4 .... 140 10 .... 140 8 .... 141 1J .... 141 0 .... 141 4