FARMING AND COMMERCIAL

Manawatu Standard, Volume L, Issue 142, 15 May 1930, Page 5

FARMING AND COMMERCIAL

STOCK MARKET. SALE AT ADDINGTON. DECLINE IN FA-FcATTLE VALUES. Per Press Association. CHRISTCHURCH, May 14. Tho feature of the weekly metropolitan markot at Addington to-day was a further decline in fat cattlo %alucs, tho drop being £1 and up to £l 10s a head for all classes. Fat sheep yalues woro also a little easier, especially for wethors. The fat lamb sale was a good one and values woro fully up to lato rates. . Adult store sheep sold dully throughout, and values woro easior in that department, too. Store lambs sold satisfactorily. Store Sheop.—A fairly largo entry of adult sheep sold indifferently and competition was very dull throughout. Passings in that section covered more than half of tho entry. Storo lambs mot with a free sale. Values •were: Good ewe lambs to 15s 2dmedium ewe iambs, 10s 6d to 12s 3d | ordinary ewe lambs, 7s to 10s; orcflliary m.s. lambs. 8s to 10s 9d; good wether Jambs, 8s to 9s 6d; ordinary wether lambs, 63 to 7s; backward lambs, 3s lOd to ss; good two-tooth Romney owes, 17s to 18s 9d; ordinary foui and six-tooth Romney eWes, 15s to 17s 6d; ordinary s.m. Romnoy owes to 13s 6d; gone four and six-tooth half bred wethers, 15-. to 16s; ordinary four and six-tooth halfbred wethors, 9s 6d to 14s; ordinary twotooth halfbrod wethers to 12s 3d. Fat Lambs.—An entry of 2070 head. Tho-quality was better than for some time. A good sale, and although little change in values there was a healthier tone about the market. Values wore: —Extra prime lambs to 27s lOd; prime lambs, 22s to 24s 6d; medium lambs, 18s 6d to 21s; light lambs, 15s to 18s. Fat Sheep.—An entry of about 4500 head of average quality, an improvement on recent weeks. A satisfactory sale, although wethers were easier by up to Is a head in some cases. Values were: Extra prime wethers to 30s lOd; prime wethors, 25s 6d to 28s 6d; medium wethers, 22s 6d to 255; light wethers, 17s to 225; extra prime ewes to 23s 7d; primo owes, 18s to 21s 6d; medium ewes, 14s 6d to 17s; light and aged, 10s to 14s. , Fat Cattle. —An entry of 545 head, including some big lines of station cattle. Tho sale was a dull one throughout and values for all classes recorded a decline of £1 and up to £1 10s a head. Best medium weight beef niado from 45s to 38s per 1001 b, with a few odd pens reaching a littlo liighor; medium quality from 28s to 31s; heavy steers from 31s 6d to 34s 6d; good cow from 23s 6d to 27s 6d; secondary, 21s to 23s and rough down to 19s. Values were; Extra prime heavy steers to £2O 2s _6d; prime heavy steers, £l4 5s to £l7; prime medium weight steers, £lO 15s to £l4; ordinary quality steers, £8 to £lO 10s; fight steers, £6 to £7 15s; oxtra prime heifers to £l4 12s 6d; primo heifers, £8 10s to £ll ss; ordinary heifers, £6 to £8; lignt heifers, £4 10s to £5 15s; extra primo cows to £l'4 2s 6d; prime cows, £8 ■to £9 10s; ordinary cows, £5 15s to £7 15s; light and aged, £3 10s to £5 10s. Vealers.—A fair entry and quality very good. One big fine from tho Mocraki Estate (Hampden) averaged £4 Is 9d a head. Tho top price of tho market was £6 3s 6d. ~ Store Cattle.—A large entry, including a big consignment of station cattle. Hereford steers made up to £9 17s 6d. Hereford and Shorthorn cows brought from £5 to £6 2s 6d, and the remainder of the entry sold up to late rates. Dairy Cattle.—A medium entry and a good sale for anything slipwing quality. Values were: Best second and third carvers to £l6; others, £4 10s to £l4; good heifers, £9 to £lO 10s; others, £7 to £B. Fat Pigs.—For porkejs late rates were maintained only for the best sorts. _ Choppers were easier while baconers maintained lato rates. Values were: Choppers 45s to £5; choppers, 46s 6d to £6 13s bd (average price per lb, 7d to 8d) ; baconers, £3 to £4 13s 6d (average price per lb, t>d tD Storo Pigs—A small yarding and a good sale with values a little in advance of last week’s rates. Values were: Large stores to 325; medium, 21s to 245; small, 17s to 20s; slips, 13s to 15s; woaners, 4s 6d to .L2s 6d* PRICES AT BURNSIDE. BETTER DEMAND FOR FAT CATTLE. DUNEDIN, May 14. Fat cattle met with ah improved demand at the Burnside sales to-day, and the market firmed considerably.' The oepmng sal o ® showed an advance of fully £1 per head for prime bullocks, and about 10s for steers. cows and heifers. Prices for 6heep also showed an advanco, extra primo wethers being about 2s better than last, week’s rates. Lambs sold at prices about on a par witll those which ruled at last week’s sale, while there was littlo if any change in the pig market Cat Cattle.—The entry consisted of 226 head. The quality was not of the best. Light-weight bullocks were mainly represented, while several pens of good cows and heifers wore forward. The increased prices were maintained throughout the sale. Prime ox beef sold on o basis of about 43s per 1001 b; good heifers, 38s; and prime cow 3 from 25s to 30s per 100 lb. Sheep.—The entry comprised 2000 head. There was a scarcity of wethers, only one truck of extra prime being offered. Several trucks of extra prime ewes were included, but the bulk of the entry consisted of fight and unfinished animals. The best truck of isrime wethors averaged 35s 6d a head. Heavy wethers sold to 29s 3d, medium to 245, extra heavy ewes to 225, and heavy to 20s 9d. Prides for extra prime wethers worked out at about per lb, and about 5d a lb. for prime light animals. Extra heavy ewes sold on a basis of about 3d, and primo handy-weights about 3£d per lb. ' Lambs.—The yarding was of medium quality, very few heavy and extra prime animals being forward. Extra heavy lambs sold to 30s 3d, heavy to 235, medium to 19s, light to 15s. Price for oxtra prime lambs were equivalent to about and fight and unfinished sorts about 7d a lb. Store Cattle. —Poor quality was noticeable in the yarding of store cattle, which consisted- principally of old cows, which sold at prices ranging from £5 to £9, Two pens of steers .realised £9 a head. Pigs.—There were 90 fats and 81 stores in tho pig section. Competition was fairly brisk, and tho yarding was disposed of at prices about the same as those obtained at the provioqs sale. Primo baconers sold at rates equivalent to abount Bd, and prime porkers about 9d to 9£d a lb.

SALE AT WESTFIELD. AUCKLAND, May 14. At Westfield to day ox beef was offered in well up to ,tho usual numbers. Tho quality was first-class, and a steady sale resulted at late rates. Prime heavy bullocks realised £l2 12s fid to £l3; medium priino, £ll 12s 6d to £l2 10s; light prime, £lO I7s 6d to £ll ss; light and unfinished, £8 ss. Cow and heifer neef came forward in numbers slightly above the average. Tho demand was strong, and last week’s values were easily maintained. Good primo young cows and heifers realised £lO to £ll 17s 6d; medium, £8 5s to £9 2s 6d; lighter sorts, £7 2s 6d to £7 17s 6d; other killable cows, £6 5s to £7; aged and unfinished oows, £4 to_ £5 ss. Extra choico ox sold to 37s per 1001 b ; choice prime, 34s to 365; plain and secondary, 32s to 335; primo young cow and heifer, 32s to 33s 6d; just killable, 23s to 295. Sheep came forward in largo numbers, for which the demand was not over-strong, but on tho whole late values again ruled. An extra well-finished lino of young owos realised 22s 3d to 235. Heavy primo wethers realised 24s 9d to 25s 3d,; medium, 23s to_24s; light arid unfinished, 21s 6d; heavy prime owes, 16s 6d to 235; lighter 13s 6d to 16s; other owes, 8s 9d to 12s 6d. Lambs were yarded in tho usual numbers, and sold at late rates. Heavy prime brought 21s 9d; medium, 19s 6d; light, 17s 9d. • . Calves had a heavy yarding of mostly good quality, and produced only moderate competition. Heavy vealors made £3 15s to £4 15s; medium, £2 18s to £3 10s; light, £2 6s to £2 15s; small, 25s to £2. Pigs met with fair competition at equal to lost week’s rates. Heavy baoonors made £3 9s to £3 14s; medium and light baconers, £2 16s to £3 16s; heavy porkers, £2 10s to £2 15s; medium porkers, £2 2s to £2 8s; light porkers, £1 15s to £2.

JOHNSONVILLE SALE. At the Johns’onville sale yesterday, Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., submitted an averago yarding of cattle and a large yarding of sheep. Prices for cattle were slightly easier than last woek’s rates. Wethers wero in keen demand at prices slightly firmer than late rates, but ewes were dull of sale, showing a decline of 2s to 2s 6d per head as compared with last vveok’s sale. There was very little demand for lambs. Prices ranged as followsßullocks, heavy, £ls 17s 6d, £ls 10s, £ls 7s 6d, £ls ss, £ls; bullocks, £l4 2s 6d; £l4, £l2 15s, £l2; cows, light, £5, £4 ss, £4; vealers, fight, 31s, 10s; wethors, heavy, 29s 4d, 28s, 25s 3d, 255; ewes, heavy, 22s 9d, 225, 18s; ewes, 16s, 14s 6d; lambs, 26s lOd, 21s 9d, 21s, 15s 6d, 13s 6d. j ASHHURST SALE. Dalgety and Co., Ltd., report having a small entry of both shoep and cattlo at. their Ashhurst sale. Quotations: Empty store ewes, 7s; 2-yr. Jersey hoifers r.w.b., £9; Jersey weaner heifers, £2 6s, £2 7s; empty cows 30s, £2 ss, £3, £3 7s 6d; light fat cows £4 10s; weaner pigs, 10s,. 10s 6d. . WAR ON RAGWORT. . SODIUM CHLORATE SOLUTION. WELLINGTON, May 14. Considerable interest has been aroused by the publication by the Department of Agriculture of its important discovery that spraying with a solution of sodium chlorate is an effective and cheap method of destroying ragwort, according to a statement made last evening by the Minister of Lands and Agriculture, Hon. G. W. Forbes. “I am receiving numerous inquiries as to cost, and as to where tho material can bo procured,” said the Minister, “and it is therefore necessary for me to supplement tho report with some further information. I had been making inquiries regarding the probable oost of sodium chlorate in the Dominion, and am now in receipt of a cablegram from the High Commissioner that the f.o.b. cost from British ports is approximately £22 per ton, and at this figure the material should be sold in New Zealand at a prico within tho reach cf most of our settlers.” The Minister explained that ns a pound would be sufficient for from four to eight gallons of spray, depending upon the height of the ragwort plants, the spraying method so far as the material was concerned could be looked upon as a verycheap one. On moderately infested land it should cost only a few penco per acre, but whore the ragwort was solid, it might run up to five shillings or more. When it was remembered that spraying was infinitely quicker than either grubbing or hand-cut-ting, it could be realised that the cost of tlie material was more than recovered in the lessened labour involved. “Some time ago, when I realised that 6odium chlorate was likely to prove an effective means of control,” continued Mr Forbes, “I placed an order for five tons of the material, and this will be arriving in New Zealand in a few weeks’ time. The proposal is to use it for demonstration purposes in all ragwort-infested districts, so ns to educate fanners how, and in what strengths, tho material should be used.” “The experimental work of tho past season has clearly shown that tho most effective time to control ragwort by sodium chlorate is _in the spring months, and the demonstration trials that are in contemplation will bo started in tho North Island early in August. It is expected that even in tho first season once the efficacy of tho method is appreciated by farmers thero will be a large demand for supplies of sodium chlorate, and it is understood that many firms are making arrangements to meet such demand.

“Up to the present time any effort at controlling ragwort, apart from special manipulation with sheop, has had to be carried . out by the farmer during quite a limited period just prior to flowering. As that time of the year is a particularly busy one, ragwort cutting is apt to bo delayed, with consequent heavy seeding. Tim new method of spraying with sodium chlorate, being applicable at any time during the whole of the spring and early summer, will enable the work to be carried out without any interference with general farm work. This in itself is by no means the least significant feature of tho new method. “The adequate control of ragwort,” Mr Forbes concluded, “has beon one of tho most difficult problems with which my department has been faced, and the fact that sodium chlorate provides a cheap and effective means of elimination, is likely to facilitate the administration of tho Noxious Weeds Act in ragwort infested districts.” LONDON AVOOL SALES.

Levin and Co., Ltd., have received tho following cablo from their London agents, dated 13th May, 1930;—The wool auctions opened here to-day with a largo attendance of. buyers. Competition is keen. As compared with tho closing rates of last sales we quoto :—Greasy Merino, best, Id per lb higher; average, Id per lb higher; fine lialfbreds, 50-565, Id per lb higher; halfbreds, 48-50 s, Id per lb higher; fine crossbreds, 46-48 s, Id per lb higher; medium, 44-465, Id per lb higlior; coarse, 40-445, Id per lb higher; low, 36-40 s, Id per lb higher; scoured Morinos, 5 per cent, higher; scoured crossbreds, 10 per cent, higher; slipo lambs, 5 ’ per cent, higher; slipo sheep, 10 per cent, higher. Dalgety and Coy., Ltd., roport under date London, 13th May, 1930;—AVool sales opened. Competition animated; large attendance of buyers; average selection. _As compared with closing rates of last Berios: Greasy Merino 3-4 d to Id higher; scoured Merino, Id to. lid higher; fine crossbred 3-4 d to Id higher; medium, 3-4 d, to lid higher; coarse, 3-4 d to Id higher; scoured, Id to lid higher; fine slipes, id to 3-4 d higher; - other slipes, 3-4 d to Id higher; lambs, Id to lid higher.

SYDNEY WOOL SALES. 13YDNEY, May 14. At the wool sales to-day, the offerings were 10,479 bales, of which 10,011 were sold at auction, also 401 bales privatoly. There was a specially keen demand on French account for superfine descriptions. The market was- very firm, with prices equal to tho best point of the week. Greasy Merino were 35£d. WHEAT MARKETS. LONDON, May 13. North, Americans were harder to buy. La Platas were easier. Parcels: The Favell’s cargo sold at 40s per quarter. Manitoba 3 firmed by 6d. La Platas were in request at slightly lower prices. A parcel ex City of Wellington sold at 40s 3d. Futures: London, May 36s 2d por quartor; July, 36s 3d. Liverpool, May, 7s 9£d per cental; July, 7s 93d not; October, 7s net. foreign - exchanges. LONDON, May 13. Tho following rates on foreign exchanges are current to-day, as compared

FINANCIAL REVIEW. INVESTMENT MARKET IMPROVES. REVIVAL OF CONFIDENCE. (By “Noon Call”). Tho past fow days have seen a decided brightening on tho financial horizon and this 1 has been reflected largely by a better tone in the investment market.An interesting feature of the week has been thq hardening of the market for shares in certain well-known Australian concorns, indicating to some extent, at least, that a slight revival of confidence has set in across tho Tasman in respect to tho near future of the Commonwealth, and that the contention of some of tho better informed that things are not as bad as they seem, oven in Australia, is carrying weight. It is interesting to note, also, that, of the shares recommended in this column by tho writer last week as worthy of consideration as an investment, three have shown a marked improvement in the past seven days, and buyers in each case could now take a worthwhile profit for the short period. Commercial Banks have moved up approximately 2s; British Tobaccos are about 2s better; Mt. Lyells, in spite of the decrease in the amount of the interim dividend, are 2s 3d better than tho price on tho lowest of recent levels. That is what the writer moans in advocating tho purchase of sound stocks; thero is practically always a market —a buyer or seller —and there is every prospect of markot appreciations when times fire on tho mend, or if tho purchaser is p»eparod to hold. MARKETS FOR PRIMARY PRODUCE. Overseas markets for primary produce during tho week have shown little movement, nor has the outlook changed much from that of last week. _ . Prices for dairy produce in London continue on rather unsatisfactorily low levels, with increasing supplies of now season’s make coming to hand from Continental countries. It seems that the authoritative forecasts of a few weeks ago—that prices will continue to fluctuate round present levels for some time —wore not far out. There is a possibility that a slight improvement will set in next month, but it does not seem that there will be anything like the spectacular rises which have occurred following other big slumps. It does not seem that tho market will go much lower, but it is almost as certain that the recovery will be slow. The brightest feature as far as .New Zealand dairy produce is concerned is the definite information to tho effect that there has been a big improvement in production this season; more than sufficient, in fact, to off-sot tho decline in prices. This tendency to increase is likely to continue. Meat prices have lees interest to the averago Now Zealander at the moment, as practically all activity in this direction lias ceased for tho season. Most works are only operating part time, and handling tho tail-end lots of the season. Tho overseas market for meat shows little movement. MOVEMENTS OF INVESTMENTS. An increased element of confidence has been shown in the Now Zealand investment market over the past day or so and, although there bus not been any big increase in the actual turnover of stocks and shares, the downward trend of the markot has been definitely checked meantime. For tho man or woman with the small sum of £IOO or so, or anyone who is not in a position to take risks, the Governments over-the-counter loan at the rate of 5£ per cent, for just under seven years is no doubt tho best proposition; the return is good and the security excellent. For those able to take a little more risk, and who can afford to wait for an improvement in the market, the following have undoubted attractions, and have been changing hands fairly freely during the past few weeks; in every instance the latest prico with the approximate return, based on the latest rate of dividend is given : Approx. Latest Return. Price. Per £IOO invested. £ s d ■ £ s d Com. Bank of Aust. ... 1 1 6 619 0 Nat. Bank of ’Asia (£5 pd)) 7 9 0 614 3 National Insurance 014 8 5 2 3 Auckland Gas 1 310 614 3 Eng., Scot, and Aust. Bank 6 2 0 6 211 Kempthorne Prosser ... 3 4 6 6 4 0 Tho management of each of the above, has been tested over a long period of years and proved sound; tho shares are attractive because the present rate of return is quite .satisfactory, and, although the market price may fluctuate slightly in the noar future, the ultilhate trend should ho toward higher levels. WELLINGTON STOCK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Six sales wero recorded on the AA'ellington Stock Excliango yesterday with prices tending upward in most cases. Government securities wero in good demand with prieps steady. Tho 4) per cent, stocks (1939 and 1938) were firm at £9B, tho 5j per cent, stocks (1936) were wanted at £99 6s; the 4£ per cent, bonds (1941) at £9B 5s were unchanged; the 4£ per cent, bonds (1938) at £9B 7s 6d wero 2s 6d higher, and' tho 4i per cent, bonds (1930) woro unchanged at £99 ss. Bank shares wero in good demand, but thero was some sag in prices. Bank of Australasia at £l2 2s were Is down, Australian Bank • of Commerco were steady at 23s 9d. and Commercial Bank of Australia at 20s 6d were unchanged. Commercial Bank of Sydney at £2O 10s were up 10s; Natiqnal Bank of -New Zealand at £6 4s were Is down on tho previous bid. National Bank of Australasia £5 paid wero unchanged at £7 7s. Bank of New Zealand woro up 3d at 58s, and Union Bank at £ll 2s 6d wore 2s 6d lower. ' Equitablo Building at £8 5s wero on a par with the last bid. New Zealand Guarantee Corporation ordinary were wanted at 7s 6d, but sellers asked Bs, and the preference shares were in demand at 20s 3d; New Zealand Investment and Mortgago wero wanted at 10s. Wellington Trust and Loan were firm at £7 Is, and Wellington Deposit at 9s 3d. Insuranco shares met with an improved demand with buyers of National Insuranco at 14s 7d. New Zealand Insurance at 43s 4d, a rise of Id, and South British Insuranco at 58s. Gas shares wero steady, Christchurch Gas at 26s Id, and AVellington Gas at 3Qa. Now Zealand Refrigerating 10s paid were wanted at 4s 6d, and Wellington Meat Export ordinary at 5s 9d, a drop of Is 3d oil tho previous bid. Huddart-Parkor were up 6d at 37s and Union Steam were unchanged at 20s 7d. Kauri Timber were firm'-at 12s 6d; New Zealand Brpwories were 6d down at 51s 9d. Burns, Philp and Co. at 33s 6d were up 6d; and British Tobacco wero Is higher at 38s 9d. Colonial Sugar wero in domand at £4O 10s, with a sale reported at £4O 12s 6d; Electrolytic Zino preference wore Is higher at 275. Wilson’s Cemont wero unchanged at 41s 6d, and Mount Lyell wero 6d higher at 295. YESTERDAY’S QUOTATIONS.

YESTERDAY’S SALES. The following sales were recorded on the Stock Exchanges of the Dominion yesterday Wellington.—English, Scottish and Australian Bank, £6 Is 6d; National Bank ct Australia (£lO paid), £l4 17s 6d; British Tobacco, £llßs, £ll9s 6d, Colonial Sugar, £4O 12s 6d;. N.Z. Breweries, £2 12s. Auckland. —Inscribed Stock, per cent., 1936, £99 ss; Auckland Harbour, Board, 5i per cent., 1948, £99; Commercial Bank of Australia (2). £1 Os 9d; English, Scottish and Australian Bank, £6 2s; Bank of N.Z., £2 18s; Union Bank of Australia (Melbourne register), £ll 7s 6d; N.Z. Insurance (3), £2 3s 6d; N.Z, Loan and Mercantile, £95; N. Auckland Farmers’ Co-op., “B” preference, 8s 9d; HuddartParkcr, prof., 19s 9d; Northern Steamship (2), 14s 6d; N.Z. Breweries, £2 12s; British Tobacco, £1 18s 6d, £1 18s sd; Colonial Sugar, £4l 12s 6d; Mount Lycll (3), £1 9s 3d. Christchurch. —English, Scottish and Australian Bank, £6 2s; National Bank of Australia v£lo paid, cum. div.), £l4 17s 6d; Goldsbrough Mort (2), £1 11s 9d_; Amalgamated Wireless, contr., £1 2s; British Tobacco, £1 18s 6d; Electrolytic Zinc, pref., £1 7s 4d; Holden’s Motors, 12s 3d, 12s; Mount Lyoll £1 9s 3d; Victoria Nyanza Sugar, £1 18s 9d. Sales reported: English, Scottish and Australian Bank, £6 2s; Bank of N.Z.; cum. div., £2 18s 3d; N.Z. Insurance (lato sole Tuesday), £2 3s 7id, (2) £2 3s 6d; N.Z. Breweries (5), £2 11s 9d, £2 12s'; Mount Lyell, £1 9s 3d; ditto, cum. div. (lato salo Tuesday), £1 9s 4d. Dunedin.- —Sales reported: Mount Lyell (2),' £1 8s 9d. ’ PRICE OF SILVER. LONDON, May 13. Silver.—Spot, 19 3-16 d per ounce; forward, 19,)d per ounce.

with par: — M/iy 13. Par. N. York, dol. to £1 ... .... 4.85 15-16 4.866 4.86| 4.866 Paris, francs to £1 . 123.905 124.21 Brussels, bel. to £1 34.815 35.00 Genova, francs to £1 . 25.115 25.221 Amsterdam, florins to £1 12.06i 12.107 Milan, lire to £1 .... 92.67 92.46 Berlin, marks to £1 .. 20.365 20.43 Stockholm, knr. to £1 ... 18.105 18.159 Copenhagen, knr. to £1 18.165 18.159 Oslo, knr. to £1 18.159 Vienna, schgs. to £1 . 34.455 ' 34.585 Prague, knr. to £1 ..., 164 ' 164.125 Hel’fora, marks to £1 ... 1925 193.25 Madrid, pes. to £1 . 39.755 25.2215 Lisbon, esc. to £1 .... 108.30 Athens, drac. £1 . Bucharest, loi to £1 . Rio do Janeiro pence ..... 375 375 "If ““ ■013.6 milreis ,.... •4 55 . 5.899 B. Aires, p. to dol. .. ,...f 4215-16 47.577 Calcutta, p. to rUp. ., 1713-16 18 Shanghai, p. to tael . 22i — H.-Kolig, p. to dol. . * Y’hama, p. to yon .... 241 24.58 Batavia, florins to £1 12.107

Buying and selling quotations at tho final call yesterday on the Wellington Stock Exchange were ae follow:— Buyers. Seller*. N.Z. GOVT LOANS- £ ». d. £ s. d. 4i p.c. Ins. Stk., 1939 and 1938 98 0 0 — 5A'p.o. ditto,-1936 99 5 0 — p.c. ditto, 1937 — 99 10 0 4i p.c. Bonds, 1941. ... 98 5 0 T— 44 p.c. ditto, 1938 98 7 6 — 4i p.c. ditto, 1930 99 5 0 — BANKS— Australasia 12 2 0 12 7 0 Aust. of Commerce ... 1 3 9 — Commercial of Aust. (ord.) 1 0 6 — Commercial Banking Co. (Sydney) 20 10 0 • English, Scottish and Australian — 6 2 b National of N.Z 6 4 0 6 7 6 National of Australasia (ord.) ' *7 7 0 — New South Wales ... — *39 10 0 New Zealand *2 18 0 — Ditto, long term 1 6 6 — Union of Australia ... 11 5 0 — FINANCIAL— Uoldsbrough JYlort ... 1 11 6 — Dalgety and C<5 *11 3 6 — Ditto Melbn. reg. ... *11 3 0 — Equitable Building Co. 8 6 0 — N.Z. Guarantee Corp. (ord.) 0 7 6 0 8 0

Ditto (pref.) N.Z. Invost., Mortg., 1 0 3 and Deposit 0 10 0 — Well. Invest., T. & A. — 0 11 3 Well. Trust and Loan Well. Deposit and 7 1 0 Mortgage 0 9 6 — GAS— Christchurch 1 6 i 1 6 8 Ditto (contr.) 0 13 0 /. 0 14 0 Wellington (ord.) .... 1 10 0 1 11 0 Ditto (pref.) INSURANCE— 0 17 4 National 0 14 7 *0 15 0 New Zealand 2 3 4 — South British MEAT PRESERVING2 18 0 2 19 0 Well. Meat Ex. (ord.) 0 5 9 — N.Z. Refrigerat. (10s) TRANSPORT— 0 4 6 0 4 10 Iluddart-Parker (ord.) 1 11 0 1 18 0 Union Steam (pref.) . 1 0 7 — P. and 0. def. stock ... WOOLLEN— 2 12 0 Wellington (ord.) 6 0 0 Ditto (pref.) COAL— •' 6 1 0 __ 0 10 9 Wcstport-Stockton (,ord.) , 0 2 6 — 0 3 9 TIMBER — 0 8 9 Kauri 0 12 6 Leyland-O’Brien BREWERIES— 1 10 0 New Zealand 2 11 9 2 12 6 Staples and Co MISCELLANEOUS— — 2 7 9 Burns, Philp and Co. British Tobacco (Aust.), 1 13 6 *1 14 9 (ord.) '. 1 13 9 1 19 6 Colonial Sugar 40 10 0 — Dental and Medical . — *0 12 9 Electro. Zinc (pref.) . 1 7 0 — Howard Smith (ord.) — 0 16 9 N.Z. Drug Sharland and Oo. 3 5 9 1 0 0 3 5 9 Wairarapa Farmers’ 0 15 0 Wellington Cordage ... Wilson’s Cement — 0 11 6 *2 1 6 — MINING— Mount Lyell 1 9 0 *1 9 6 Waihi +0 13 1 — *Cum. div. +Ex div.