Commerce, Mining, & Finance

Evening Star, Issue 21503, 30 August 1933, Page 5

Commerce, Mining, & Finance

THE SHARE MARKET

NNEIft STOCK EXCHANGE E.S. and A. Bank shares came in for inquiry at the morning call over this morning, £5 being offered without a seller responding. A parcel of Nationals of New Zealand came on the market at £4- 2s. “B ” Issue National Mortgages had rather better inquiry at £1 6s 3d, but there was no response. British Tobaccos came in for continued inquiry at £1 14s, and a seller came on the market at one shilling more. A buyer offered £SB for Colonial Sugar shares, but there was no response from sellers. Inquiry for Electrolytic Zincs (pref.) moved up to £1 12s. The ordinary issue also had improved inquiry, £1 2s being offered without response. Mount Lyells eased to £1 Is 9d, but no buyer offered more than £1 Is 7d for them. Buyers of N.Z. Breweries improved to £1 18» 6d, but there were no sellers on the market. Improved inquiry was made for Waihis, £1 5s 6d being offered. Okaritos were a little easier. SALES. Reported:—Bank of New South Wales, £32 10s; Southland Frozen Meat (cont.), £1 5s 9d; Mount Lyell, £1 Is 7d; King Solomon, 2s 6d; Gillespie’s Beach, 2s 3d. Late sale yesterday-Waihi Grand Junction, 4s. On ’Change:—Paddy's Point, ss; BellHooper, lid. Reported after the call: —Southland Frozen Meat (cont.), £1 5s 9d.

dividends due. gtock. Am’nfc. Period. Dale. Bank of N.S.W. sst interim Aug. 35 Standard Insurance Is 2d final Sept. 5 Huddart, Parker (ovd.) 6d, interim Sept 14 Huddart, Parker (pref.). 7 l-sd, interim Sept. 14 Golden Sands 3-sd, 3rd monthly, Sept. 14 Broken Hi.i South Ist Sept. 22 Okarito Is Hftli Sept. 16 tAustralian currency. THE DOLLAR Press Association—By Telegraph—Copyright. LONDON, August 29. (Received August 30, at 1.30 p.m.) The dollar is quoted at 4.57|. MOUNT LYELL Press Association—By Telegraph—Copyright LONDON, August 29. (Received August 30, at noon.) Mount Lyell shares, 17s 3d. P. AND 0. COMPANY Press Association—By Telegraph—Copyright. LONDON, August 29. (Received August 30, at 1 p.m.) P. and O. shares are quoted at 19s lidi

THE SEARCH FOR GOLD

CENTRAL SHOTOVER RETURN The secretary of the Central Shotover Gold Mining; Co. Ltd. reports that from the temporary claim on the Sugarloaf at Arthur’s Point, a return of 420 z 9dwts has just been obtained as a result of a partial wash-up. This makes a total of 630 z 14dwts won from this paddock since sluicing operations commenced, and the claim manager estimates that the paddock will be completed early in October. CAORI GULLY DREDGING COMPANY The prospectus of Maori Gully Gold Dredging Company has been issued by New Zealand Mining Investments. The claim is situated near Kokiri, on the We:«t Coast. The prospectus states that the tests, which comprised 27 bores, revealed values averaging Is B£d a cubic yard over one part of the claim and Is OJd over the remainder, the general average for the purpose of the prospectus being reduced to Is a yard. It is proposed to instal a closely-linked modern bucket dredge, capable of treating 50,000 cubic yards monthly. A tender for the dredge has been provisionally accepted, the tenderers offering to undertake all costs of working the first 150,000 yards of material for 3d a yard. The capital of the company is £24,000, and the prospectus stresses the point that the vendors and promoters are accepting all their interest in shares, no cash being asked for. OKARITO DIVIDEND The secretaries of the Okarito Fivemile Beach Gold Dredging Co. Ltd. report that the dividend of 20 per cont. (Is per share) which has already been announced will bo payable on Saturday, September 16, 1933. PRICE OF FINE GOLD Press Association—By Telegraph—Copyright. LONDON, August 29. (Received August 30, at 1.30 p.m.) Gold is quoted at £6 9s 4Jd per oz. NEW GUINEA GOLD Press Association—By Telegraph—Copyright. LONDON, August 29. (Received August 30, at 10.5 a.m.) New Guinea gold, 7s 4sd. BULOLO SHARES Press Association—By Telegraph—Copyright. LONDON, August 29. (Received August 30, at 10.5 a.m.) Bulolo Gold Dredging Ltd. shares are quoted at 79s 4£dRABBITSKIH SALE The Dunedin Stock Agents and Woolbrokers’ Association reports as follows; —Small catalogues were offered at yesterday’s rabbitskin sale, the bulk of the offerings being spotted and outgoing sorts. There was again a good demand for bucks, which, compared with last sale, advanced by 4d to 6d per lb. There was a weaker demand for does, which were lower by 3d to sd, and inferior sorts, such as broken and off-season grades, were, on the average, 3d lower. The following is the range of prices:— Summer broken, 6d to 7Jd; autumn broken, 12d to 15Jd; second winter broken, 16d to 17d; first winter broken, 14Jd to 18Jd; runners, 3d to sd; summers, 6|d to 7-iJd; light racks, 8d to S^d; prime racks, 8d to' Bid; dawny autumn, lOd to lid; early autumns, 14d to 15d ; late autumn, 22d to 24d; second incoming, 22d to 24d; incoming winter, 34d to 36d; early winter bucks, 56id to 63id; early winter docs, . 22d to 24d; first spotted winters, 47d to old; second winter bucks, 60d to G4Jd; second winter does, 28d to 29d; first winter bucks, 77d to 77jd; first winter does, 35d to 38id; prime bucks, 78d to 86d; prime does, to 42d; second spotted winters, 30d to 33d; outgoing does, 17d to 19d; spring docs, 12d to 13d; milky, 14d to 18d; fawn, lOd to 16d; winter fawn, 26d to 30d; summer black, 5d to s|d; autumn black, to lOd; first winter black, to 24d; second winter black, to 20d; hareskins, 4d to 9d; horsehair, 12d to 12Jd.

AUSTRALIAN STOCK EXCHANGES Press Association —By Telegraph—Copyright. SYDNEY, August 29., On the Stock Exchange, with the rise in wool values exceeding the most optimistic anticipations, investors to-day responded with a- greater display of confidence' than has been witnessed since 1929. With one or two exceptions share values moved upward and the business was extremely heavy. There was the greatest excitement in the vestibule, which was choked with investors. The following sales were made:— Bank of New South Wales, £32 17s Od; Commercial Bank of Sydney, £l7 12s; National Bank (£5 paid), £6 6s; Colonial Sjigar, £59 7s Gd; Australian General Insurance, 10s 3d; Mercantile Mutual insurance, 18s; Associated News, 8s 7d; Associated News (pref.), 18s 9d; Burns, Philp, 525; Berlei (New Zealand delivery), 26s Gd; British Tobacco, 35s IJd; Australian Glass, 49s Gd; Dunlop, Perdriau, 18s 3d; Goldsbrough, Mort, 30s; Commonwealth Wool, 19s 7Jd> Wilcox, Mofflin, 10s; Winchcombe, Carson, 29s 10Jd; Electrolytic Zinc, 235; Anthony Hordern, 10s 9d; Automatic Totes, 12s 9d; Howard Smith, 12s 4d; Tooths, 395; Tooheys, 23s 9d; General Industries, 9s 2d; Meggitts, 20s 3d; Standard Cement, 15s 9d; Broken Hill Proprietary, 37s Gd; South Broken Hill, 61s; Bulolo Gold, 975; Bulolo Deposits, Is BJd; Mount Morgan, 445; Mount Morgan (Now Zealand delivery), 445. MELBOURNE, August 29. Commercial Bank of Australia, 16s 2d; Commercial Bank of Australia (prof.), £8 19s; Goldsbrough, Mort, 29s 9d; ‘Herald and Times,’ 44s 9d; Electrolytic Zino, 235; Australian Glass, 50s; Mount Lyell, 21s 9d; Mount Morgan, 44s 6d. SOUTH AUSTRALIAN ORANGES (Per United Press Association,] WELLINGTON, August 29. The first shipment of Australian fruit to be landed in the North Island since the lifting of the embargo on Australia arrived by the Wanganella from Sydney, and comprised 2,000 cases of South Australian oranges and mandarins. NEW ZEALAND FRUIT The Otago Provincial Fruitgrowers’ Council Ltd. advises that the High Commissioner’s ■ cabled report for the week ended August 26 on the London fruit market is as follows: —“Market slow. Prices for New Zealand apples are: Granny Smith, 15s; Dougherty, 8s Gd to 9s Gd; Cleopatra and Brighton, 7s Gd to 8s Gd; Delicious, Statesman, Tasma, Romo Beauty, and M'Liver’s, 7s to 8s; Sturmer and M'Mahon’s Wliite, Cs 6d to 7s Gd; Dunn’s and Ballarat, 5s to 6s; Scarlet Nonpareil, ss. Otago: Newton Pippin, 10s; Rome Beauty, 7s Gd to 8s; Jonathan, Delicious, Winesap, Dunn’s, and Ezopus Spitzenberg, 6s to 7s; Cleopatra, 5s 6d to 6s 6d; Statesman, 5s to 5s 6d.” METAL MARKET LONDON, August 28. The .following are the official quotations : Copper.—Spot, £35 18s 9d per ton; forward, £35 3s IJd. Electrolytic.—Spot, £39 15s; forward, £4O 15s. Wire bars, £4O los. Lead. —Spot, £l3 3s 9d; forward, £l2 8s 9d.

■ Spelter.—Spot, £l7 Is 3d; forward, £l7 2s Gd.

Tin.—Spot, £217 2s Gd; forward, £216 18s 9d.

Pig Iron.— Home trade, £3 2s 6d; export, £2 12s 6d. Antimony.—British, £39 10s; foreign, £23 ss. Molybdenite, £2 Is per unit. Wolfram, 17s 3d. Silver.—Standard, 17 13-16(1 per ok; fine, 19 3-l Cd. TIN PRODUCTION SCHEME FOR EXTENSION Efforts are being made to obtain the co-operation of non-participating countries in the international scheme for the control of tin production. Five countries. Bolivia, .Malaya, Dutch Fast Indies, Nigeria, and Siam, controlling well over 90 per cent, of the world’s tin production, have since 1931 been co-operating in the control of production. Since the control sclieme came into force stocks have decreased from the highest point. GO,-547 tons, in April, 1932, to approximately 44,-100 tons, at the end of July, and the price of tin has risen from an average of £lls a ton for the three months prior to the inception of live scheme to £227 10s on June 9. The latest price is £213 3s 9d a ton. The present statistical position is stated to be:—Export _ allowed to the signatory countries, including Siam, 04,056 tons, estimated export by nonsignatory countries, 16,000 tons, and secondary tin, 6,000 ions: total. 86,056 tons. The non-participating countries include the United Kingdom, Burma. Australia, South Africa, Belgian Congo, PoTotigfi!, Mexico, Japan, China, and French Indo-China. The total estimated production of these countries in 1932 is 14,910 tons. These figures, the International Tin Committee states, indicate that in conjunction with a probable increase in the production of secondary tin, a price of aDout_,£2oo a ton is likely to cause a serious increase in the supplies not under the committee’s control, unless the non-participating countries are brought within the international agreement. The International Tin Committee asserts that if the non-partici-pating countries are not brought within the international control there is a serious danger of the regulation scheme breaking down, with consequent disaster to the tin industry in all countries,

REFRIGERATED CARGOES

LOWER FREIGHT RATES SAVIHG OF £124,000 OH DAIRY PRODUCE [Pest United Press Association.] WELLINGTON, August 29. Cabled advice of the main terms of the new refrigerated cargo freight rate contracts with shipping companies was received to-day by the Dairy and Meat Boards. No official statement regarding the terms was available to-day, as the cablegrams had to be sent to London for confirmation. Some figures authoritatively stated, however, show that the new freight rates, which will operate from Friday, represent a reduction approximately of 7 per cent, on the present rates. In the case of butter tho rate, which is now 4s per box less 15 per cent., will bo 4s less 21 per cent. It is estimated that the annual saving on dairy produce represented by the new rates will be approximately £124,000. The new contract carries other provisions relating to the rate of exchange New Zealand on London. Tho produce boards will carry, as at present, the full cost of over 10 per cent, of remitting funds to London, the shipping companies carrying 10 per cent. In the new contracts, however, it is understood that there is provision that if the exchange rate falls below 10 per cent, the cost will be borne by the boards’ shipping companies in certain definite proportions. The new contracts provide that the Blue Star Lino will have a share, stated to be 10 per cent. It is understood that the Blue Star Lino will shortly open offices in Wellington and other seaports in New Zealand. The first Homeward loading from tho dominion by the line will be made by the big motor ship' Tuscan Star in November. THE MEAT TRADE CONTINENTAL HANDICAPS [Contributed by the Meat Board.] No better evidence of the difficulties of international trading can be found than in the position which faces New Zealand meat exporters in their desire to do business with the countries of Continental Europe. Tariffs, quotas, and stringent veterinary restrictions combine te pile up the handicaps. Information on these subjects is regularly secured by the New Zealand Meat Producers' Board, and it has recently made a summary of the facts as they exist to-day. It discloses that there is very little prospect, if any, of extending the export of Now Zealand meat into most of the Continental countries. There might bo some possibility of development in Belgium, but the first outstanding fact in the board’s survey relating to that country is that Belgium does not itnport lamb. It takes outside supplies of beef and mutton, but South American competition has so far excluded New Zealand on a price basis. In any case, imports into Belgium are on a quota amounting to nine-tenths of the imports for the year 1931, while there are Customs duties and a sales tax of 5 per cent, of the duty-paid value. Germany has abandoned the quota principle in favour of much more drastic restrictions of a veterinary nature. Whole carcasses only may bo imported, and the various _ organs must remain attached in their natural positions. These measures were designed to protect the German agricultural industry. Norway simply prohibits the importation of all classes of frozen meat, while its neighbour, Sweden, requires such an elaborate system of veterinary inspection at time of slaughtering and of marks and certificates that business could not bo profitably conducted with that country. The board’s London officers who looked into the possibilities of trade with Sweden were informed by the Commercial Councillor of the British Legation at Stockholm that the Swedish Medical Board does not regard frozen meat exported from New Zealand as complying with its requirements. Its import into Sweden, adds the British authority, is therefore not permitted. In the Netherlands the quota prevails, so that apart from some other difficulties which present themselves this principle bars New Zealand meat, tho reason being that imports of pork, beef, and veal are subject to a quota based on tho previous year's imports. As New Zealand has had no business with tho Netherlands it cannot obtain a quota.

France allows meat imports on a quota basis fixed quarterly in advance, and it imposes the following duties; — Lamb, 180 francs per kilo; mutton, 260 francs; Pork, ISO francs; and beef, 180 francs per kilo. In addition there is an import tax ranging from 25 to 50 cents per kilo.

Italy has extensive veterinary regulations in respect to meat importations, and imposes a duty of 140 lira per 100 kilo on Now Zealand imports, a basis which extends to nearly all countries and gives no special preference, hough in any case the “ most Favoured nation " clause under which New Zealand mav oport to Italy is entirely at the discretion of the Ministry of Finance, which may change the duty to •200 lira per 100 kilos without notice, Spain is not an importer of frozen meat. Denmark, by a decree of 1924, prohibited the importation of New Zealand frozen lamb, mutton, beef, and pork. This decree, it is understood, is still effective, though at the time of reporting tiie board was making further inquiries to ascertain if there has been any recent variation. tinder the difficult conditions which we have enumerated it is extremely unlikely that exporters in the ordinary course of business would venture to consign meat to most of the Continental countries. With regard to new markets generally, the Meat Board has always been keenly alive to the desirability of establishing new markets for our meat wherever possible, and has from time to time purchased and sent forward on Consignment shipments of meat to test markets. The resultant information, in cludi; details of realisation, is circulated to all those in New Zealand who might bo in a position to take advantage of the opportunity thus created, NEW ZEALAND DRUG COMPANY INTERIM DIVIDEND DECLARED At a meeting of the board of directors of Messrs Kcmpthorne, Prosser, and Co.’s New Zealand Drug Company Ltd., an interim dividend of 34 per cent, for the half-year ended July 31 was declared.

SYDNEY WOOL SALES

HIGHER FRIGE LEVEL MAINTAINED COMPETITION GENERAL Press Association—By Telegraph—Copyright. SYDNEY, August 29. At the wool sales 12,472 bales were offered and 12,204 were sold, while 6,036 were disposed of privately. The improved levels established on Monday were fullv maintained to-day, and there was a hardening tendency for best fleece wools, with more general competition. Excellent clearances were made. Greasy merino sold to 21d. The average price for greasy yesterday was £ls 16s 6d a bale, or 11.8 d per lb. BRITISH PRESS COMMENT LONDON, August 29. The newspapers give prominence to tho rise in wool prices at Sydney. The ' ‘ Financial News’ says: “Such sharp rises are uncommon, and how far Bradford buyers are prepared to pay so much more for raw material remains to be seen. Though those left short should not complain, there was no warning of the increased trade in wool textiles that heartened Yorkshire’s manufacturers. The rise should bring more consumers into the-market, and the outlook for the London sales later should lie good.” The ‘Morning Post’ says: “The news from Sydney points to a further advance. There was an active demand for winter suitings. The Yorkshire output of tops and yarns has recently been readily absorbed _on home and foreign account, and prices were higher at Bradford last week.” AUSTRALIAN WOOL TWO RECORDS LAST YEAR The wool sold on the Sydney market for the year ended June 30 totalled 1,298,700 bales, being a record for the market, and the eighth consecutive year in which sales for the season have been over a million bales. The quantities available for selling in Sydney are larger than in any selling centre in the world. Fifteen countries are the principal takers. Victoria’s wool clip for 1932-33 was 155,118,5471 b, which was a record. The approximate value was £5,162,000.

DAIRY INDUSTRY

CANADIAN PRODUCTION STATISTICS FOR LAST YEAR Information relating to the production of Canadian dairy factories last year is contained in an interesting report received by the Acting Minister of Industries and Commerce (Hon. J. G. Cobbo) from the New Zealand Trade and Tourist Commissioner in Canada (Mr J. W. Collins). The report was compiled by Mr Collins from figures submitted by the Department of Trade and Commerce, Dominion Bureau of Statistics, Ottawa. “ The production of creamery butter in Canada during the year 1932 amounted to 213,738,6141 b, and the total value was 40,413,578d01,” states Mr Collins in his report. “ Compared with the preceding year, the quantity of butter made shows a decrease of 12,216,6321 b, or 5 per cent., and tho value a decrease of 9,785,300c101, or 19 per cent. The 1932 quantity of output, however, is the second largest in the history of the industry, being exceeded only by the production of 1931. The average price per lb at tho creamery, for the whole of Canada, in 1932, was 18.91 rents, compared with 22.22 cents in 1931/ LOWEST PHICES RECORDED.

“ The 1932 average is the lowest price recorded for any year of the period commencing with 1900, when complete statistics of dairy factories were for the first time made available. Ontario is first among the provinces with regard to quantity of output, having a total of 74,346,1831 b, while Quebec is second with 04,889,670. The relative position of each province with respect to the total output of creamery butter in Canada in 1931 and 1932 is shown in the following statement of percentages, the figures for 1901 being placed within brackets:—Ontario, .05 (34) p.c.; Quebec, 30 (31) p.c.; Alberta, 10 (10) p.c.; Manitoba, 9 (9) p.c.; Saskatchewan, 9 (8) p.c.; Nova Scotia, 3 (3) p.c.; British Columbia, 2 (3) p.c.; and Now Brunswick and Prince Edward Island eacli 1 (1) p.c. “ The output of factory cheese in 1932 totalled 120,312,2851 h, valued at 11,3G0,044d01, compared with 113.956,6391 b, valued at 12,824,695d0l in 1931. The average price per lb in 1932 was 0.44 cents, compared with 11,25 cents in 1931. The 1932 average is the lowest price recorded in any year of the period 1900 to 1932.

“ Ontario is the largo cheese-produc-ing province, with a total in 1932 of 8G,709,5681h, or 72 per cent, of the output for the whole of Canada. Quebec is second in order of quantity of product with a total of 29,301,1191 b. These two provinces together produced 96 per cent, of tho cheese output of Canada in 1932. All the provinces, excepting New Brunswick and British Columbia, show increases compared with 1931.

CONCENTRATED MILK PRODUCTS. “ Included under the general term 1 concentrated milk ’ arc condensed milk, evaporated milk, milk powder, and items of like character. The total value of these products in 1932 was 5.952,947 dollars, compared with 7.067,807 dollars in 1931. Although the value of production was lower than in 1931, the quantity of output was well maintained. Evaporated milk, the principal item, showed an increase of two million pounds, but condensed milk an skim milk powder, the other two principal items, each decreased by about a million pounds.” , Mr Collins said that under the heading of miscellaneous factory products were included all products of dairy factories other than butter and cheese, and concentrated milk. The principal items were milk and cream sold, and ice cream. Tho total value of those miscellaneous items in 193? was 28.573,905 dollars, compared with 34,391,020 dollars in 1931.

There were 2,734 dairy factories in operation in Canada in i 932, comprising 1,219 creameries, 1,1?2 cheese factories, 317 combined butter and cheese

factories, and 26 concentrated milk plants. The total number showed an increase of 32 compared with 1931. The value of all products of dairy factories in 1932 was 86,300,474 dollars, compared with 104,482,400 dollars iu 1931.

FOREIGN TRADE FIGURES

“ The total value of exports of Canadian dairy products in 1932 was 11,861,735 dollars,” Mr Collins continued. “ The principal item is cheese, which had a total export in 1932 of 86,939,900 pounds, an increase over the preceding year of two million pounds. The export of evaporated milk was double that of 1931, but butter, condensed milk, and milk powder record decreased export. “ The Canadian imports of dairy products in 1932 were comparatively small, having a total value of only 407,439 dollars, compared with 1,329,126 dollars in 1931. The main item of import was cheese, with a total of 1,166,506 pounds. The import of butter decreased from 2,821,317 pounds in 1931 to 238,145 pounds in 1932. Butter was mainly imported from New Zealand, and the bulk was marketed after the close of the year and during the depth of the Canadian winter—February to April, 1933. . , , . *‘ Due to drought conditions there is likely to he curtailment of production of butter for the current calendar year. For the five months ended May last there was a slight increase over last voar of 0.7 per cent, (C 0.809,63 and C 0,365.047—19321, hut during the whole of .lime and .July very hot weatlier lias been experienced, and preliminary reports point lo decreased output in most of the loading producing provinces. If similar weather conditions continue during August the decline will he accentuated. Cheese held in store as at .July 1 shows an increase of 6.9 per cent., but the dry weather factor is now affecting its manufacture. “ It will ho possible at the end of October next to further analyse the statistical production and to forecast the possibilities of the marketing of New Zealand butter for winter sale in Canada during the season 1933-1934.” DAIRY PRODUCE Messrs H. L. Tapley and Co. Ltd., South Island agents for the Anglo-Con-tinental Produce Company, London, have received the following cabled report;—Butter, 90s to 91s per cwt; market firm. Cheese: White, 47s per cwt; coloured, 50s; market slow. The Son ill Island Dairy Association reports having received the following cable from London:—Rutter: Steady, 925; Danish, 105 s. Cheese: Steady. White, 47s to 48s; coloured, 50s to 51s. The Otago Farmers’ Co-operr.tive Association of New Zealand Ltd. has received tile following cable from London, dated August 29:—“Butter, 90s to 91s; market firm. Cheese: White, 47s 6d » coloured, 50s 6d; market steadier*”

Quotations as under Buyers. Sellers. £ s. d. £ s. d. BANKING— Bank of New Zealand 2 8 0 2 8 9 Commercial Bank ... 0 15 9 0 16 1 E.S. , and A. Bank 5 0 0 — National Bank N.Z. — 4 2 0 INSURANCE— National Ins. Co. ... 0 17 3 0 17 7 Standard Insurance Co. (cum div.) ... — 3 0 0 SHIPPING— U.S.S. Co. (pref.) ... 1 3 0 •- COALKaitangata Coal 1 1 6 1 2 6 Westport Coal Co. — 0 13 3 LOAN AND AGENCYGoldsbrough Mort. ... National Mortgage — 1 9 9 (B Issue) I 6 3 — N.Z. Guarantee Corp. — 0 7 0 Perpetual Trustees ... 2 10 0 — Wright, Stephenson (ord.) . — 0 15 0 Wright, Stephenson <pref.) ... 0 13 0 MEAT PRESERVING— N.Z. Refrigerating (paid) 0 16 6 — N.Z. Refrigerating (cont.) 0 8 0 — Southland Frozen Meat (paid) — 2 11 9 South Otago Freezing 4 15 0 — MISCELLANEOUS— British Tobacco 1 14 0 1 15 0 Broken Hill Prop. ... — 1 17 6 Colonial Sugar Co. ... 58 0 0 — Crystal Ice Co. 1 6 0 — Dominion Fertiliser — 0 14 0 D.I.C. (ord.) 0 11 3 — D.I.O. (pref.) 1 0 6 — Electrolytic Zinc (pref.) ... 1 12 0 1 12 9 Electrolytic Zinc 0 fdef. ord.) ... ... 1 2 — -Milburn Lime and Cement — 1 12 6 Mosgiel Woollen Co. 8 8 0 — M’Leod j Bros 25 0 0 — Mount Lyeli .:. ... 1 1 7 1 1 9 N.Z. Drug Co. ... ... 3 6 6 — N.Z. Farmers Fertiliser — 0 16 6 N.Z. Paper Mills ... 1 7 6 — ‘ Otago Daily Times ’ 2 2 0 Regent Theatre 0 18 6 — BREWERIES— N.Z. BrSweries Ltd. 1 16 6 — Dunedin Brewery 1 2 0 — Timaru Brewery 0 5 9 — MINING— Aotea Roa — 0 2 6 Kawarau 0 0 54 — Waihi 1 5 6 — Waihi Grand June. 0 4 0 — Bell-Hooper 0 0 10 0 0 11 Mahakipawa — 0 u 0 Kildare 0 2 3 -— Okarito _ 0 11 8 0 11 10 Paddy’s Point 0 4 11 0 5 0 King Solomon 0 2 4 0 2 7 Golden Point 0 0 H — Golden Dawn 0 2 2 — Blackwater 1 16 6 — Gillespie’s Beach 0 2 2 0 2 3 Waitahu 0 7 3 0 7 5 Golden Sands (cum. dir.) _ 0 2 11 0 — Big River 0 1 6 1 74 Mount David — 0 z i Nokornai — 0 3 6 Freshford ... ■■ Lawson’s Flat 0 0 7 0 0 9 0 0 10 0 — 0 Central Shotover 0 0 10 1 Bell-Kilgour 0 1 5 0 1 8 WAR BONDS— (Bonds quoted are £100 Bonds.) 1938-43 34 p.c. Insc. 100 10 0 — 1935-52 34 p.c, Insc. 100 10 0 — 1939-43 34 p.c. Insc. 100 10 0 — 1939-52 34 p.c. Insc. 100 10 0 — 1941-43 34 p.c. Insc. 100 10 0 . — 1941-52 5} . p.c. Insc. 100 10 0 — 1940 4 p.c. Bonds ... 100 10 0 — 1940 4 p.c. Inscribed 100 10 0 — 1946 4 p.c. Ins. 100 10 0 — 1949 4 p.c. Bonds ... 101 5 0 — 1949 4 p.c. Ins. 101 5 0 — 1955 4 p.c. Inscribed — 100 10 0