Commerce, Mining, & Finance

Evening Star, Issue 22194, 23 November 1935, Page 15

Commerce, Mining, & Finance

AUSTRALIAN STOCK EXCHANGES Press; Association—By Telegraph—Copyright SYDNEY, November 22. Business was fairly brisk on the Stock Exchange to-day. There was good support for front-rank'industrials, .but banks were quiet, and gold and t in shares irregular. •; MORNING SALES.

METAL MARKET Press Association.—By Telegraph— Copyright LONDON, November 22. . The following are the official metal quotations:— . i- ' Copper.—Standard, ion forward,'. £35 6s 3d.nL. 1. ■'Electrolytic.— Spot, £39; forward, £39 10s, V. Wire bars, £39 10s. r Lead.—Spot, £l7 10s; forward, £ll 10s. ■A Spelter.—Spot, £l6 3s 9d; forward, £l6 3s9d. , ' Tin.—Spot, £224 10s; forward, £212 5?. , • !,Pig Iron.-—Home trade, £3 10s.; export, £3 Is 6d. 1 ,■ Antimony.—British, £79 10s; foreign, £54 15s. ; Molybdenite, £1 14s 6d, per unit. -' Wolfram, £1 14s 6d. i: ’ V Silver.—Standard, 29 5-16 d per oz; fine, 31 5-Bd. DAIRY PRODUCE Messrs A. S. Paterson and Co. Ltd. have received the, following cable advice from London Butter ; Market steady; New Zealand, ,103srl04s; Australian, 102s-103s; Danish :105s; landed cost, 1265, Cheese: Market firmer;white, 535; coloured, 545. The. South Island Dairy Association has received the, following market report from: London:—Butter, improved during latter , part of .week. . Finest, 104 s; first , grade, 102 s, Cheese, firm ; 52s 6d to 535; coloured, 53s 6d to 545.

TIMBER INDUSTRY GAIN ■ BENEFITS OF HIGH EXCHANGE : ‘[Per United Press Association.]’ INVERCARGILL, November 22. A quest of importance to all those engaged in the timber industry was referred to this evening by the Hon. Adam Hamilton when speaking at Otautau. He said that the very welcome revival in this industry was due largely to the’ leveling up of the exchange with Australia. Both the Labour Party and the Democrat Party stated that they' would gradually reduce and ultimately abolish the high exchange. If New Zealand had a lower exchange rate than Australia then our exports to the latter country would be seriously affected. Those in the timber trade would remember the difficulties that existed when the New Zealand rate was 110 and the Australian, at 125. It practically meant that our timbers, could' not possibly compete with others in* the Australian market. Before the levelling up of the exchange our timber trade with Australia was practically dead, and the millers were demanding a subsidy as an absolute necessity if they were to be able to continue operations. The raising of the exchange rate to 125 brought New Zealand on to an equal competitive basis to far as Australian requirements were concerned, and enabled our exports to obtain an advantage over the Canadian and also over the exporters of-. Baltic timber. Swedish timbers were our principal competing product in the Australian market, and the increased New Zealand exports had been largely as the expense of that country. That the raising of the exchange rate gave an impetus to the timber trade was proved by the. fact that during 1934 there was an increase by 8,500,000 feet in the quantity of sawn timber exported from New Zealand to Australia alone. It would be well for all those associated with the production of -timber to realise the disastrous effect which the removal of the exchange would have on the production of timber for export. MORTGAGE ACTS REPEAL OF AMENDMENT SOUGHT * [Per United Press Association.] -- CHRISTCHURCH, November 22.- , ■ A decision to, move for the repeal or substantial amendment of the Mortgagors’ and Tenants Relief Act and the Rural Mortgagors’ Final Adjustment Act was made at a meeting to-night of the Mortgagees’ and Investors’ Protection Association. - A resolution was carried reaffirriungthe opinion that the two Acts mentioned were inimical to the true interests of the, people .of .New Zealand in that they were “utterly opposed to equity and justice and are calculated to cause widespread hardship and distress.’’ ' Another resolution was ..carried advocating that after the election- stfeps shbnld'be taken/toirequest dhe Government to have tile Acts repealed or substantially -amended. CANTERBURY GRAIN MARKETS The grain and produce markets- are very quiet, except for an intense interest in fowl wheat, of which stocks are short. The position ’is , being watched with the greatest interest by the trade because practically no wheat at all is coming in from the country, and what little is held in store by the merchants is held firmly. The price has not moved up since the beginning of the week, but fowl wheat is hard to buy. . The possibility of Australian shipments for the South Island are being freely discussed. Potatoes are hard to procure, but there is still a demand from Wellington, and offers of up to £ll 10s a ton, f.0.b., have been received from there. The local market is also firm, but, with the break in the weather, digging will increase and the market will slip. Pollard is scarce, and the quotation has been raised 10s a tom The small seed trade is dull, the only business being in small orders of root seeds for the country. PRICE CF GOLD Press Association—By Telegraph—Copyright LONDON, November 22. (Received’November 23, at noon.) The price of gold is quoted at £7 Is 3d per oz. DOLLAR AND FRANC Press Association—By Telegraph—Copyright LONDON, November 22. (Received November 23, at noon.) The. dollar is quoted at 4.93] and the franc at 74,15-16.

STOCK AN7 SHAREBROKERS. -BULLETIN: ; - WE, OFFER, SUBJECT TO SALE OR

WE HAVE BUYERS FOR:— . 100 Kaitangata Coals. 1.000 Nokomais. 1.000 Central Shotover. 2.000 Gillespie’s Beach. 500 Jones Nevis. 300 N.Z. Perpetual Forest Shares. 4 Afforestation Ltd. Shares. 6 N.Z. Perpetual Forest Bonds (any issue). THE SECURITIES CORPORATION (N.Z.) LIMITED, ALLIANCE ASSURANCE BUILDING, 20 CRAWFORD STREET, DUNEDIN. Telephone 11-777 (3 lines). Telegrams: “ Toscol.*

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice: — TT.S.A. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELUNGT.T. (dol) 3.95 i 3.99 i O.D. (dol) 3.95| 3.99| BUYING— O.D. (dol) 4.00 J 4.04 j iTALIAN BANK NOTES SANCTIONS REPERCUSSIONS The Italian .Consular agent at Dunedin writes:—“ By a Ministerial decree of November 16 the Italian Bank notes of either 1,000 lire or 500 lire are repayable, under special conditions, provided that the same bank notes are, not later than the 26th inst., either presented to certain banks in Italy or deposited with the competent Italian Consular authorities abroad. Therefore, all those in New Zealand who are in possession of the bank notes referred to, in order to obtain their repayment, must see that the notes reach the Royal Italian Consulate (Wellington) not later than the 26th inst. Those notes which are not deposited with this Consulate within the specified term are liable to be confiscated when they are introduced in Italy.” This is one repercussion of the imposition of sanctions. Another is that the local banks have required commercial houses here to sign a declaration that no money sent abroad is for indirect transference to Italy,

FRUIT AND PRODUCE Bray Bros. Ltd. (Dunedin) report as follows for week ending to-day The weather conditions have shown a complete change in the South Island during the past' three weeks, as heavy rains have fallen in most localities. The coastal areas have had the heaviest falls. What is required now is a spell of warm. • dry weather to ensure good returns from both the cereal and ro’ot crops. ‘ Farmers are pushing on with the sowing ’of root crops, and it is expected that a larger area than last season will be planted. There has also been a fairly extensive sowing of grass seeds. J3o far as the fowlwheat market is concerned supplies are getting into short compass. This has resulted in a firming of values throughout the South Island. The Wheat Purchase Board is still holding some surplus milling wheat in Canterbury, and this is being rationed out to South Island merchants. North Island merchants are drawing on Australia for their requirements. Prices have firmed here, and the best quality fowlwheat is now worth 4s lid per bushel, sacks extra, ex truck, with small lots ex the stores realising 5s 3d per bushel. Millers’ prices for flour, etc., are as follows: Flour.—2oolb, £l2 17s; -100’s, £l3 2s; 50’s, £l3 7s; 25’s, £l3 12s. Bran, £5 5s per ton. Pollard, £6 15s per ton. , Oatmeal.—2oolb, £l9; 25’s, £2l. There is no change to record in the oat market. Stocks are short, and the local stores are practically depleted of supplies. In addition, not many lines are held in the country. On the other hand, the demand is small from the North Island, and shipping values remain unchanged at 3s lid, Lo.b., s.i., for A Glartons and 3s 9d for B’s.' These prices are equivalent to 3s 3d and 3s respectively in the country, sacks extra. The demand for chaff is on the quiet side, with supplies for the . local market being mostly secured from Canterbury. Best quality chaff is worth £5 10s (sacks extra), ex truck, Dunedin, with lots ex the store bringing 10s per ton more. The wet weather in the North Island has interfered with the digging of new potatoes, but fair supplies are reaching the market. The same position applies locally. So far as old tubers are concerned, merchants are buying from hand to mouth. Only , sound quality are inquired for, and the price may be given as round about £l4 per ton. The wholesale markets in seeds are quiet, aud the bulk of the business in the meantime is confined to retail orders. There is a good demand from the country, and merchants are busy filling orders from that quarter. Prices remain unchanged, and apparently there are sufficient stocks to fill all requirements. FRUIT REPORT. Apples are coining to hand in small quantities. Sturmers are chiefly being received.. Good prices prevail for first quality, but shrivelled lines have to be sold at reduced prices. Cooking apples are practically unprocurable. If growers are holding any they are recommended to forward them in, as high prices are being secured for any lines coming to hand. Pair supplies of hothouse tomatoes are arriving from Christchurch, and also from local hothouses. Satisfactory E rices are being maintained. The maret, however, can consume larger quantities than are coming forward at present. Supplies of, New Zealand-grown lemons have increased, and prices are eased slightly. A few Californians came to hand, and are quoted at 42s fid to 45s per case. A small line of Jamaican oranges came to hand. These were a fine texture, retailers speaking favourably of them. Cherries and strawberries are now coming in, and within the course of a week or two supplies of both these fruits should be plentiful. • Reports from Otago Central state that grapes are a little backward this year. The Wingatui, which arrived yesterday, brought a shipment of Island oranges, North Island potatoes, lemons, and a few grapes. The oranges arrived in good condition, and were sold at satisfactory prices to retailers, as were also potatoes. We received a very fine sample of French beans, grown by Mr H. Cuthbertson, North-east Valley, and these realised 2s 4d per lb. Consignments of green gooseberries are increasing, but as yet are on the small side. . Cauliflowers are now practically finished for the season, a few odd lines coming to hand have realised high prices. . Cucumbers are bringing a satisfactory price. .. Lettuces are in over-supply, and low prices have to be accepted to keep stocks clear. Cabbages are fairly plentiful, and other vegetables are selling freely. Blitter, cheese, and eggs are selling freely, but honey is slow of sale. Wholesale prices are as follows: Apples (wanted). —Delicious, 11s to 13s fid case; Stumers, 10s to 13s fid; Jonathans, 10s to 13s ; cooking—Rome Beauty. 7s fid to 8s fid; Ballarats, 7s fid to 8s fid.

Bananas —ripe, 26s to 28s 6d; green, 25s to 265. Oranges.—South Australian, 35s to 255; Jamaican, 30s to 355; Island, 17s 6d to 23s 9d. Lemons. —New Zealand, 12s 6d to 15s; Californian, 60s to 70s. Strawberries, Is Id to 2s pottle. Grapes, 25s to 275. Grapefruit, 25s to 30s. Pineapples, 17s to 21s. Cherries, IOJd to Is 9d lb. Gooseberries, 3d to 3sd lb. Tomatoes. —Local hothouse, Is 2fd to Is 6d lb; Christchurch hothouse, 10id to Is 4d lb. Asparagus, wanted. 5s 9d to 7s dozen. Potatoes, 16s to 18s cwt. • New potatoes.—Local, 3id to 4-Jd lb; North Island, 2£d to 3Jd lb. French beans, to 2s 4d lb. Broad beans, 2Jd to 5Jd. Cabbage, Is 3d to 2s 6d case. Cauliflowers, wanted, 10s to 14s; Jvo. 2, to 7s 6d sack. ' „ Lettuce, 6d to Is dozen, f Onions, wanted, 21s 6d. Carrots, wanted. Is 6d dozen. White turnips, 9d dozen. Spinach, Is per dozen. Parsnips, wanted,. 7s sugar hag. Swedes, wanted, 2s 3d to 2s 9d sugar bag. Kumeras, wanted, 2Jd to 3d lb. Rhubarb, Id lb to 2s case. Walnuts, 4d to 6d lb. Green peas, 4£d to 5Jd lb. Honey.—Bulk, 4£d to 4id lb; 101 b tins, 5s 6d tin; 51b tins. 3s 3d tin. Butter, ‘storekeeper, 7d to 7Jd lb. Eggs, market rates. Beeswax, Is Id lb. Oyster grit, 7s cwt. Fowl wheat, 5s 3d to 5s 6d bushel. Oats.—A Gorton, 3s lid bushel; B Garton, 3s 2d bushel; crushed oats, 14s 6d bushel. Cross Keys meatmeal, 16s bushel. Chaff. £5 10s to £6 per ton. Straw wheaten, £3 per ton. Cheese. 51d to sid lb. Lard, 6id lb. Macdonald and Miller’s gold medal bacon. lOd, lOid, and lid. i Christinas hams, Is 2d Jb.

THE SHARE MARKET

DUHEDIM STOCK EXCHANGE In keeping with the general improvement in trading conditions on stock exchanges throughout the Empire, a much brighter tone has been apparent on the local market during the past week. Business has been transacted in a wide range of stocks, though investors have acted with a fair degree of caution. The New Zealand exchanges have been surprisingly active, despite the approaching elections. Investors have no doubt been influenced by the better tone in England and the continued strength of industrials in Australia. Business on the local exchange, continued active this morning, when a fairly large volume of business was recorded, and prices showed a further inclination to appreciate. Bank of New Zealands have shown steady improvement during the. week, and prices have advenced from 50s 6d to 51s 6d. Commercial- Banks, which earlier in the month displayed a tendency to sag, have made a good recovery', and all other issues were also firmer. Only fair attention has been paid io insurance, and South British, which have been showing a firming tendency recently, established a gain of 5s to £4 14s. Nationals were slightly weaker at 19s to 19s 3d. Breweries were again strong. New Zealand strengthened sharply till the middle of the week, when there was a setback, the best price, £2 15s 6d, being 2s better than the best price last week. Tooths were erratic, but the price was well maintained, and, on the whole, showed a gain. Staples had improved inquiry, but Timarus and .Dunedins received little attention. Broken Hill Proprietarys hijid an active market, and ended Is 3d dearer than they were last week. The 5s paid issue was very popular, and rose Is 3d to £1 8s 3d on the week. There was a consistently' good demand for the ordinary issue of Woolworths (Sydney), the price rising slightly in trading. Most of the Australian mining issues have been strongly supported, and Electrolytic Zincs and Mount Lyells made notable gains. Business in gold mining shares has been restricted, and prices generally showed little change. Okaritos and Waitahus registered slight rises, and this morning both markets were firm. Little interest was manifested in Government loans, and during the week only one transaction was recorded. * SALES.Reported.—Bank of New Zealand, £2 11s 6d; Southland Frozen Meat (paid), £3 18s; Broken Hill Proprietary (5s paid), £l, 8s; Kaitangata Coal, £1 2s 3d (late yesterday). Unlisted Stock.—Woolworths (Sydney), £5 16s 6d. On ’Change.—Gillespie’s, Is Id.

DIVIDENDS DUE Perpetual Trustees—lnterim, Is a share Nov. 25 Westport Coal—Final, 6d per share Nov. 25 National Bank of Australasia —interim at 5 per cent, per annum Nov. 27 Broken Hill Propty.—lnt., 61 per cent Nov. 27 Dalgety and Co.—Final, 5 per cent, p.a., 2s 6d a share ... Nov. 28 Wilson’s Cement —interim, 9d a share Nov. 28 E.S. and A. Bank —Final, 2j per cent. , ... .... ... Nov. 23 North Wairarapa Building Society —lnterim, 2,j, per cent Nov. 28 Leyland-O’Brien Timbei' —5 p.c. per annum Nov. 28 Farmers’ Trading Co., Auckland —interim A and B.pref., at 7 per cent, per annum, and C ' pref. at 5 per cent, per annum, all less 20 per cent! ... Nov. 30 Kauri Timber—s per cent Dec. C. L. Innes—pref. and ord;, 8 per cent., also pref. arrears ... Deo. 1 Henry Jones Go-operative—ls 3d per share Dec. 1 Swan Brewery—ord., 2s and bonus 6d and pref. at 6 per cent, per annum ... Dec. 4 Bank of N.Z.—lnterim, ord., Is a share; D mortgage, 31 per North Broken Hill—2s 6d a share and bonus Is a share Dec. 12 Mount Lyell—Pinal, 21, per cent. p.a., 6d a share Dec. 16 Broken Hill South—ls 6d a share and bonus Is a share Dec'. 19 Placer Development—lnterim, 50 cents (Can.) a share Dec. 20 Bulolo Gold—lnterim, Idol 40 cents (Can.) a share Dec. 20 Morris, Hedstrom —Interim, ord., 2£ per cent Dec. 31 Claude Neon Ltd., Sydney—ls . per cent., payable as"to 74 per cent, (and payable as to 7| per • cent., January 1) Jan. 1 THE SEARCH FOR GOLD NOROMAI MINING COMPANY The secretary of the Nokomal Gold Mining Company Ltd. reports a washup returning 3300 z 7dwt for a paddock of the approximate area of one-fifth of an acre of bottom. LAWSON'S FLAT The mine manager ,of the Lawson’s Flat Gold Sluicing Co. Ltd. reports as follows, under date November 21: —The wash-up on Tuesday resulted in a return ot 430 z 6dwt of retorted gold. Work in connection with the No. 3 tail race is now practically completed. The face looks very much better and an improvement in values is anticipated from now on. It is estimated that two years’ work is now' available without further tail race accommodation, WAIPAPA BEACH RETURN . The secretaries of the Waipapa Beach. Gold Dredging Co. Ltd. report that advice has been received from the dredgemaster that 330 z were won for 120 hours’ dredging. GOLDFIELDS RETURN Messrs W. A. Mitson and Co., secre_ ’taries of the Goldfields Dredging Company Limited, report that for the ■week’s dredging a wash-up of 13oz odwts of gold was won. , GOLDEN SANDS RETURN The Golden Sands return was 320 z 12dwt for 33 shifts of eight hours each. —Greymouth Press Association, WHITE’S ELECTRIC DREDGING The directors of -White’s Electric Gold Dredging Company last week visited the company’s claim at Barrytown with Mr G. Poole, representing the contractors for the construction of the company’s dredge, and were very pleased with the progress made. The pontoons are constructed of electrically welded steel, and the dimensions of the pontoons are 90ft x 40ft. The spread of tables provided is 1,750 square feet, and provision is made for nine watertight compai'traeuts in the hull. The machinery is expected to commence to arrive on the claim early in December, TALISMAN DUBBO REPORT The Dunedin Stock Exchange has received advice from the secretary of the Talisman Dubbo Company that 62J tons of ore were treated by the Golden Dawn battery for an approximate realisation of £473. ’ KING SOLOMON RETURN v The return at the King Solomon mine this week amounted to 550 z 6dwt.

£ s. d. Commonwealth Bonds— f b ' 3i p.o*, 1948 ■... 97 10 3|p.c., 1942 ... 4 .pic., 1947 ... 102 10 103 ; 7, 0 '6 4 p.c., 1953 ••• 104 1 6 Commercial Bank of Sydney 18 3 0 Bank-of New South Wales 32 7 0 6 Huddart, Parker o 0 Tooth’s 2 IS 3 Australian Glass 4 4 6 British Tobacco 2 0 9 Broken Hill Proprietary (fir£t instalment paid) 1 s 0 Lustre .... ... ... •••. 1 8 Millacjuin Sugar ... ... 1 16 3 AFTERNOON SALES. > s . d. Bank of New South Wales 33 18 7' 6 Commercial Bank of Sydney 3 0 United Insurance 11 10 0 Associated News ... 1 4 9 Associated News (pref.) ... 1 4 li Huddart, Parker 2 0 0 Burns, Philp ... ... — 3 5 0 British Tobacco ... 2 1 0 Tooth? s 2 18 9 ' Toohey’s j.~ ••• 1 11 0 Carlton Brewery ... /. 2 15 0 Meggitt’s ... N Sargent’s 1 3 6 0 1 4 Richardson and Wrench ... 1 11 6 Permanent Trustee ... ... 0 17 5 Hoyts (A pref.) 0 19 6 Nestles (pref.) .. ... 1 14 6 4 Truth ’ (first pref.) 1 li 0 Henry’ Jones 1 18 6 Millaquin Sugar - 1 16 3;, Broken Hill Proprietary 2 19 6 ‘ South Hill 5 9 0 Zinc Corporation ... 3 9 0 : Rawahg ••• - . 0 8 11 Commonwealth Bonds— 0 4 p.c., 1938 ... 103 10 4 pic.,' 1941 ••• 101 lo 0 ' 4 p.fc., 1944 ... 102 7 6 4 p.c., 1947 103 10 0 4 p.c., 1953 ... 104 3 9 4 p.c., 1959 ... f 103 5 0 4 p.c., 1961 103 7 6 MELBOURNE, November 22. Commercial Bank of Australia 0 17 6 National Bank (£10 paid) 14 0 Australian Glass ... 4 3 0 Howard Smith 0 19 0 Dunlop, Perdriau 0 16 5 Dunlop Perdriau (pref.) 1 16 6 6. J. Coles 3 5 9 MountiXyell’ ... ,1 > 1 9 Mount, Morgan ... ,1 1/ Koroere ... , ... ... J. *••• U, 13 b Emperor ... ... JL* ■ u 4} : Lolom% ... ... 1 18 10} ■

WITHDRAWAL :-r £ a. d. 100 Dominion Fertilisers 1 4 0 100 Procera Bread 2 7 6 5 Reserve Bank N.Z 6 6 0 50 E.S. and A. Bank 5 11 0 100 Bank ot N.Z. (Long D) ... 1 14 0 100 N.Z. Refrigerating (cont.) 0 10 11 iOO N.Z. Drugs ... ... , 4 u u 100 Tooth’s Brewery ... ... 2 18 0 100 . N.Z. Paper Mills 1 9 0 1,000, Bendigo Goldlight 0 0 4 i,000 Skippers ... ... ... ... 0 0 4 1,000 Bell-Kilgour 0 0 1 2.000 Maerewhenua 0 0 2 700 Waipapa Beach 0 1 9

FOREIGN EXCHANGE ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchase and sales of foreign exchange (all rates subject to alteration without notice); — London — Buying. Selling. £100 stg. N.Z T.T. £12* £124 10/ O.D. £123 10/ £124 8/9 Australia — £A to £100 £100 10/ N.Z T.T. £101 Fij>— £F to £100 £89 N.Z T.T. £90 7/6 New York— . Dollars to £1 3.95| N.Z . T.T.' 3.39i O.D. 4.00J 3,95£ Montreal — Dollars to £1 . T.T. 4.02J 3.99 N.Z. ... ... . O.D. 4.04 3.99i France — . T.T. 60.86 59.56 ■■ N.Z.’' O.D. 61.16 59.61 Noumea — . T.T. 61.81 58.81 N.Z. . O.D. 62.21 58.86 Papeete— . T.T. 61.81 O.D. • 62.21 58.81 58.86 N.Z. Belgium— 25.135 N.Z. ... ... •• T.T. — O.D. — 23.150 Germany— Reichmarks to £1 9.646 N.Z. ... T.T. — O.D. — 9.651 Switzerland — 12.074 N.Z. ... , T.T. 12.474 O.D. 12.549 12.084 Holland — 5.756 N.Z - .. T.T. 6.006 O.D. 6.056 5.760 Java-?. T.T. 5.955 5.730 N.Z. ... ... .. O.D. 6.005 5.734 Japan— N.Z. pence to 1 17 19-32 yen T.T. — O.D. — 17 37-64 Shanghai— N.Z. pence to 1 * ’ 18 21-32 dollar T.T. 17 11-32 O.D. 17 7-32 18 41-64 India and Ceylon— N.Z. pence to 1 22 23-32 rupee T.T. 22| ' O.D. 22i 22 21-32 Hongkong — N.Z. pence to 1 22 31-32 dollar ... ... T.T. 21 23-32 O.D. 21 19-32 22 15-16 Singapore— N.Z. pence to 1 T.T. 34| 35 5-16 dollar O.D. 34i 351 Sweden — 15.460 N.Z T.T. 15.790 O.D. 15.830 15.470 Norway— 15.870 N.Z T.T. 16.200 O.D. 16.240 15.880 Denmark — N.Z T.T. 18.208 17.878 O.D. 18,248 17.888 Austria — Schilling to £1 T.T. — 20.68 N.Z O.D. — 20.70 Czechoslovakia — Crowns to £1 95.17 N.Z T.T. — O.D. — 95.22

Quotations as under:— Buyers. Seller*. £ s. d. £ S. d. BANKING— Australasia 11 5 0 — New Zealand 2 11 3 — Commercial 0 16 10 0 17 3 E.S. and A 5 8 0 — National of New Zealand ... ... ... 3 14 0 Reserve . ..: ... ... 6 5 0 — Union of Australia Ltd 9 9 0 INSURANCE— National 0 19 2 __ New Zealand — 3 6, 0 Standard ... ... ... 3 8 0 SHIPPING— P. and O. Deferred Stock . ■' 1 3 0 , — U.S.S. Co. (pref.) ... 1 7 3 MEAT PRESERVING— N.Z. Refrigerating (paid) N.Z. Refrigerating 1 2 0 — (cont.) — 0 11 0 Southland Frozen (paid) — 3 18 6 Southland Frozen (cont.) — 1 19 0 South Otago Freezing 7 0 0 — LOAN AND AGENCY- ' Goldsbrough, Mort ... 1 11 0 — Mortgage Corporation 0 5 7 0. 5 9 National Mortgage ... — 2 14 6 National Mortgage (“ B ” Issue) 1 12 0 — Wright, Stephenson (pref.) ... — .1 0 0 COAL— Kaitangata ' ■1 1 6 — Westport ... 1 2 10 1 3 2 Westport-Stockton (pref.) ' ... — 0 2 9 WOOLLEN COMPANIES— Bruce (ord.) — 0 14 6 Bruce (pref.) —: 1 1 9 Kaiapoi (pref.) — 0 ,18 6 Mosgiel ... i ... 10 0 0 10 5 0 Oamaru 1 1 9 1 2 6 MISCELLANEOUS— Associated News — 1 6 0 Australian Glass — 4 4 5 Broken Hill Proprietary — 2 19 3 Brown, Ewing (ord.) 0 14 6 — Brown, Ewing (pref.) 1 1 0 D.l.C. (pref.) X 3 0 — Dominion Fertiliser ... 1 3 9 1 1 4 0 Dominion Fertiliser Debs 106 0 0 — Dominion Rubber ... — 1 7 0 Donaghy’s Rope and' Twine 2 100 2 14 0 Dunedin-Kaikorai Trams i is 0 — Dunedin Stock Exchange Proprietary 1 17 0 2 0 0 Milburn Lime and Cement — 2 4 9 N.Z. Drug Co 3 19 0 4 0 0 N.Z. Paper Mills — 1 8 6 ‘ Otago Daily Times ’ ,2 10 0 —■ Regent Theatre ...' ... — u iy 0 BREWERIES— New Zealand — 2 15 6 AUSTRALIAN MINING— Electrolytic Zinc (pref., £1) . 1 18 6 — Electrolytic Zinc (ord., £1) 1 15 0 1 15 6 Mount Lyell .(£!> . ... 1 1 2 1 1 6 Mount Morgan (5s) ... — 1 18 0 Mount Morjran Develop- * raonls ... 0 3 0 0 4 0 GOLD MINING— Bendigo Goldlight , (Is) 0 0 3 0 0 4i Big River (Is) ... ... 0 1 8 — Brian Boru (Is) — 0 0 3 Gillespie’s (Is) 0 1 1 0 1 14 Goldfields Dredging (Is) 0 0 2 — Kildare (2s) 0 2 9 0 3 0 King-Solomon (Is) ... 0 3 3 — Lawson’s Flat (is) .. 0 0 2 0 0 6 Mount David (5s) .. — 0 1 6 Nokomai (5s) 0 1 6 0 2 6 Okarito (5s) 0 5 6 0 6 0 Oxenbridge (Is) . ... — 0 0 2 Paddv’s Point (5s) ... — 0 2 0 Sandhills (Is) i ' — 0 0 5 Skippers (Is) 0 0 2i 0 0 4 Waipapa Beach (Is) 0 1 0 1 8 Waitahu (5s) 0 3 0 0 3 2 N.Z. GOVERNMENT LOANS— (Bonds quoted are £100 bonds.) 3i p.c. Stock, November. . 1938-52 102 15 0 — 31 n c. Stock March, *1939-43 102 15 0 — 3£ p.c. Stock, Sept., 1939-43 102 15 0 34 p.c. Stock, May, *1939-52 102 15 0 — 4 p.c. Bonds, 1937-40 101 10 0 — 4 p.c. Stock. 1937-40 101 10 0 — 4 p.c. Bonds, 1943-46 105 0 0 — 4 p.c. Stock, 1943-46 105 0 0 — 4 p.c. Bonds, 1946-49 105 5 0 — 4 p.c. Stock, 1946-49 105 5 0 4 p.c. Bonds, 1952-55 108 0 0 — 4 p.c. Stock, 1952-55 108 0 0 — UNLISTED STOCKS— Woolwprlhs (Sydney) _ 5 18 0 Quartz Mountain " - -,0 9 0 0 10 3