FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 69, 20 February 1932, Page 5

FARMING AND COMMERCIAL

FEILDING EWE FAIR. TWO-TOOTH EWES TO 17S. BRIGHT DEMAND FOR ADULT LINES. With tho recent spoil of dry weather, and the market for wool remaining at a low lovel. it had been thought that the prices ruling at tho Feilding Ewe Fair yesterday would bo far from anything that would show a profit to the vendor, but, contrary to expectations, there was an animated tone in the fair from the start. The attendance was large, buyers being present from over a wide area, while the entry of ewes was well over 20,000 head. Some of the linos showed ovidenoo of having come off scarce feed, but a large percentage of them wore in medium to good forward condition and for those a good demand set in. The prices for tho adult sheep were well in advance of what had been oxpected, and buyers who were holding off quickly came to realise that they would have to get on to tho market for their supplies. Up to 10s 3d were paid for five year owes while a good line of four year ewes brought 13s. Ovor the average tho adult sheep brought about 2s more por head than was thought would be the case and, comparatively, the two-tooth lines were by far the cheaper buying. The top price for two-tooths was 17s which tho E. Short Estate obtained for a fino lino of woll-woollcd Romneys, Mr J. D. Hocking, of Kiwitea, being next with 163 7d for an equally good draft of Romnoys. One or two other vendors also received over 16s for their two-tooths, but the average price for those sorts was well bolow this figure. Last fair Mr Hooking shared top place with another vendor with £1 and tho decline made yesterday was, in view of the prevailing circumstances, not very considerable. Throughout the whole yarding the sheep wero of much bettor quality than were before buyers last year, and had conditions boon on an equal piano must have shown a fair advance in price, but it was very evident that all those in search of breeding ewes yesterday were not inclined to pay anything approaching fancy prices for their requirements. Tho fair, however, was in ovory way satisfactory from the point of view of values, and tho manner m which tho largo offering was handled was a credit to the controlling organisation. The following was the range of prices:— Two-tooth ewes. —10s 3d, 11s Bd, 12s 9d, 13s 9d, 14s Bd, 15s Id to 16s 7d; four-tooth do. 9s 3d, 9s lid, 12s, 12s 6d to 14s; four and six-tooth do., 9s id; four-tooth to four-

year do., 8s Id, 8s 3d; two and tfiree-ypar do., 13s-9d; two, four and six-tooth do., 12s;- six tooth and 4 and 6-year do., 8s Id to 8s 9d; 4 and 5-year do., 6s, 5s 4d, 7s lOd, 8s 7d, 9s 3d to 11s; 5-year do., 5s 9d, 6s lid, 7s Bd, 8s 7d, 9s 6d to 10s 3d; m.a. do., 7s 9d to 12s 6d. Stud Southdown ewes.—Two and fourtooth : 10s; two tooths, 3-4 gns, to 2gns.; four tooths, 6s, 10s to 3-4 gns. AUCTIONEERS’ REPORT. .. Associated Live Stock Auctioneers, Ltd., report the, total entry of 18,500 comprised 11,500 4 and 6-year ewes, 940 4 and 6-tooths and 6000 2-tooths. Considering the prolonged dry 6pell of dry weather, the sheep generally came forward in good order ana tho usual high quality of standard was maintained. In the older ewes the highest price was obtained for a pen of 108 4-year ewes sold on account of.L. Meads, Rewa, at 13e Bd, tho next in order being 156 same age 13s on account of J. Northcott, and 294 same age on account S. Williamson, also 13a. Choice pens of two tooth ewes were penned on account of vendors who have supported this fixture for many years. In this section the best prices obtained were for a pen of 50 2-th ewes sold on account of E. Short Estate at 17a, 40 same age ewes on account of J. D. Hocking at 163 7d, 50 on account M. A. Conway 16s 3d, also 90 at 16s, and on account of N. J. Short 100 at 16s Id. The following axe the principal ealee: Account T. J. Arthur, Bunnythorpe, 100 6-th to 5-year, 8s lOd; D. P. Buohanan, 100 5-year ewes, 8s; W. G. Pearce, Colyton, 150 5-year ewes, 7s Bd. Account T. Shannon Estate, 230 s 4-year ewes, 8s 6d. Account T. W. Still, 150 5-year owes, 8s; W., G. Clapham, Kimbolton, 166 4- ewes, 11s; M. A. Conway, 188 4 and 5- ewes, 10s; A. Kidd, 205 4-year ewes, lie 9d; T. E. Craine, 4 and 5-year ewes (156), 9s 2d; H. W. Whitehead, 150 4 and 5-year, 7s 8d; S. Williamson, 52 5-year ewes 8s; Bruce MoLeod, 104 4-year ewes, 8s Id; Palmer Broe., 195 4 and 5-year ewe 3 8s Id: R. McDonald, 219 5-year owes, 8s 7d; Munson Estate, Stanway, 600 4-year ewes, 8s 4d; 99 4-year ewee, 7s 7d; D. L. Younger, 281 4-year ewes, 11s 8d; A. R. Bartlett, 395 4 and 5-year ewes, 9s 3d; G. F. Smith, 290 4 and 5-year ewes, 7s lOd; R. Port, Pohangina, 368 5-year ewes, 9s; A. J. vjaokson, 396 4 and 5-year ewes, 8s 7d; R. L. Langdon and Sons, 418,4-year ewes, 8a 4d; C. E. Vile, 399 a.m. ewes, 7s 9d; H. M. Gray, 432 ewes, 8s lOd and 8s 3d; H. P. Green, 198 4, 6-th and 4-year ewes, 6s 9d; E. Kerrigan, 521 4 and 5-year ewes, 7s 6d; G. P. Burr, 100 5-year ewes 7s 6d; D. McLeod, 76 5-yr ewes 7s 6d; C. H. Leicester, 154 4-yr ewes 12s Id; W.. J. Entwistle, 106 4, 6-th and 4yr owes 11s . 6d; E. M. Merrick, 57 4-yr owes 10s 6d; Short and Sons, Ltd., 137 4, 6-th and 4- ewes 11s 2d; A. G. H. Mowbray, 262 5- ewes 8s 6d; H. W. Scott and Son, 80 5-yr ewo3 8s 7d; Short and Sons Ltd.. 202 5-yr ewes 9s 6d; J. Guyloe,. 128 5- owes 10s Id; H, K. Stewart, Kiwitea, 84 m.a. ewes 12s 6d; R. Port, 86 5-yr ewes 7s 9d, 262 51yr ewes 9s sd; Jacobs -and Son, 155 4 and 5-yr ewes 9s 10d, 9s 6d| Manson Estate, 159 5-yr owes 6s; M. Merrick, 157 5-yr ewes 10s 3d; A. C. Pearce, 164 5-yr owc3 9s 6d; A. McCool, 109 5-yr ewes 8s; W. F. Viles, 120 4-yr owes 8s 2d; G. Turnbull Estate, 52 maiden 4-th ewes 12s 7d; K. G. Dalziell, 197 maidon 4-th ewes 12s Od; McGlone Bros., £7 4-th ewes J2s; A. Kidd, 84 2, 4 and 6- ewes 12s: N. J. Short, 200 4-th owes 14s; Dairymplo Bros., 351 2-th ewes 15s; E. Shannon Estate 110 2-th ewes 13s 6d; E. M. Merrick, 218 2-th ewes 13s 4d; McGlone Bros., 103 2-th ewes 13s Id; 90 at 11s 6d; A Gray, 86 2-ths ewes 13s Id; J. Guylee 62 2-ths 14s 8d; N. J. Short, 100 2-ths 14s 8d; Shannon Bros., 119 2-ths 13s 4d; Belr mont Estate, 159 2-ths 10s 3d; J. Northcott, 155 2-ths 14s; E. Short Estate, 155 2-ths 13s 9d, 150 2-ths 13s 7d. 72 2-ths 15s Id; A. R. Humphrey, 100 2-ths 12s 9d; G. V. Shannon, 52 2-ths 14s; Job Palmer, 104 2-ths 14s; J. D. Hocking, 40 2-ths 14s; Palmer Bros., 100 2-ths 13s Id; ,J. L. Younger, 99 2-ths 14s 10d; R. D. Younger, 133 2-ths 13s lOd; S. Williamson, 168 2-ths 14s 6d; Shannon Bros., 99 2-ths 13s 6d; Palmer Bros., 76 2-ths 13s Id, 49 2-ths 13s 2d; Mrs V. A. Densham, 201 2-ths 13s 7d; M. A. Conway, 41 2-ths 15s; A. R. Bartlett, 242 2-ths 13s 4d, 13s Id-.-Short and Sons ‘Ltd!-'/ 291 2-ths 14s 9d; Shannon Bros., 100 2-ths 12s 8d; McGlone Bros., 124 2-ths 13s Id; W. J. Smith,.4s 2-ths 14s lid; D. P. Buchanan, 66 2-ths 12s 4d; F. 0. Stack, 54 2-ths 16&; C. H. Wilson, 50 2-ths 13s; R. W. Buchanan, 64 2-ths 12s 2d; A. E. Sandilands, 25 2-ths 13s; E. Short Estate 75 2-ths 15s: L. Meads, Rewa, 48 2-ths 12s 3d. An offering of purebred Southdown owes mot with a fair demand only and tho following arc particulars of sales effected: —. Account E. M. Haro, 19 S.D. 2-th • ewes 2gn; 10 S.D. 2-ths Hgns. Turnbull Estao, 10 S.D. 2-th ewes Jgn; 5 2-ths Jgn. FEILDING MART. Prices realised at the mart in Feilding yesterday were as follow: Hens, 9d to Is 8d; cockerels, lid to 2a Id; ducks, Is to Is 7d; geese, 2s 6d. Pigs: Weanors, 4a 6d to 9s 6a; slips, Kb to 11s 6d; stores, 16s to 17a 6d; porkers, 21s 6d to 255; demand for pigs more firm. Fruit: Tomatoes, la 6d to, 2s 64; peaches, 3s 6d to 4s 6d; apples, 3s to 3s 6d; pears, »2s to 2s 6d, all at por half case. FARMING NEWS. RURAL RAKINGS, For bntterfat supplied during the past month the New Zealand Co-operative Dairy Company will pay suppliers on the basis of 9d for butter and 10a for cheese. Tho New Zealand Co-operative Dairy Company, Limited, has fixed its advance ! payments for finest grade butter-fat receivjed for the manufacture of butter and cheese 1 during January at the rate of 9d and lOd per lb, respectively. Similar advances were made for the previous month’s supply, while for January, 1931, payments wore at the rate of lid per lb for butter and 9Jd per ilb for cjjeese. A Cambridge resident who journeyed into the Urewera Country last week reports that ragwort appears to be obtaining a serious hold in the bush oountry, and, as it is more or less “no man’s land,’’ it is likely to become a great menace in a year or two. Patches of over an aero or more ■were seen from the road at Te Whaiti, and the pest is reported to be even more general in the heart of the Urewera.

The financial year 1930-31 was characterised by a total production of 109,291,9881 b of butter in Now South /Wales factories, roughly 48,791 tons. To this must be added about 3009 tons made on farms. This is tho best result since 1924-25, when tho total was 62,326 tons. It is officially estimated that tho farm output of butter has" increased very considerably, and is now about double that of two years ago. The average State consumption of butter per capita is estimated at 33.361 b, or nearly 41b greater than the 29.161 b for the whole of Australia. This is considered to bo among the highest of any country in the world.

Masculinity should always be evident in a ram, yet coarseness of quality should not be taken for this. The ram should be bold, stylish, and vigorous throughout. Style is indicated by an even walk and a bold carriage of head and ears. Vigour is indicated by a bright eye, soft fine wool, broad deep chest and blocky form. The form should be square and close to the ground, top and under line straight, wellsprung riba, and the width should. be well carried from front to rear. Quality is a very important factor in a ram. It is indicated by smooth, medium fine bone, clear-cut features throughout the body, pink skin, and the wool bright and lustrous. Of the Southern onion crop the Christchurch Times asys: —“It is generally accepted that the onion crop will bo little less in bulk than in normal years, and of a good quality. Yields on the lighter land will certainly be down, but some of the farmers on the heavier Marshland areas report better yields than they are usually accustomed to. If the dry weather holds for another fortnight, the Quality will be outstanding. Uncertainty prevails in this market also. A fortnight ago inquiries were received from Australia, and the market is at present waiting for the result. It is not certain yet whether the price quoted deterred the enthusiasm of buyers on the others side, and until this aspect is cleared up no very definite basis of values can be ascertained. Up to £5 10s has been offered to farmers, and sales have been made at £6.

WELLINGTON BTOOK EXCHANGE. YESTERDAY’S BUSINESS AND PRICES. Tho Wellington aharq market had a quieter tone yesterday with a lessened demand in most sections. Government • securities, were slow, -ine 54 por conts. 1937, wore in demand _ at £99 55,. a drop of 5s on tho previous quotation, and there wore sales reported at £99 12s 6d. The 54 per cent, stocks, 1933, wero unchanged at £9B 12s 6d. Wei-, lington Harbour Board, 54 P or ,cenfbenturcs, 1940, were in demand at £»( Bank shares- were quiet. Commercial Bank of Australia, ordinary, were M lower at 14s. Bank of Now Zealand wore wanted at 44s 6d, and the long-term shares were firm at 25s 9d. Bank of New South Wales were on sale at £26 ss, and Union Bank at £7 6s. „„ Goldsbrough, Mort and Co. at 22s 6d were unchanged, N.Z. Guarantee Corporation, ordinary, were a shade firmer at 4s 34 Insurance, gas,' and Transport shares wore neglected. Woollen shares were slightly firmer, Kaiapoi Woollen, ordinary, wore up 3d at 6s 3d, and Wellington Woollen, ordinary, wero 6d higher at £4 2s 6d. . New Zealand Browenes wore up 3a at 25s 3d: Tooth .and Co., at 235, wore up 2d, and there was a sale reported at 23s 4d. British Tobacco wero down 3d at 25s 9d, Colonial Sugar eased off 20s, with the bidding at £3B 10s; Electrolytic Zino were up 3d at 20s 9d; N.Z. Drug wero wanted at 45s 6(1, a rise of 3d, and W oolworth s preference wero firm, at 24s 9d. Mining shares aro receiving more attention, and yesterday there wero buyers of Mount Lyell at 19s 7d, Golden Lawn at 7s 6d, Blackwater at 6s, a rise of Is 2d, and Consolidated Goldfields at 2s, a rise of 3d. YESTERDAY’S QUOTATIONS. Buying and selling quotations at yesterday’s final call on the Wellington Stock Exchange were as follow: — Buyers. Sellers.

YESTERDAY’S SALES. The following sales were recorded on the stock exchanges of the Dominion yesterWeilington.—lnscr. Stock, 54 p.c., 1937, £99 12s 6d; Govt, bonds, 54 p.c., 1937, £99 12s 6d;. Toojih and Co., 61 ,3s 4d. Auckland. —Govt, bonds, 5i p.c., 1933, £9B 15a; 1937 12), £99 10s; Ins. Stock, 54 po.. £99 10s; Bank of N.8.W., £25 15s; Bank of New Zealand, £2 4s 9d; New Zealand Insuranco, £1 17s 6d; Union Steam, prof., £1: King Solomon Is lOd. Christchurch. —Inscr. Stock, ,54 P-c-. 1933 (2), £9B 15s;' British Tobacco, £1 6e 3d; Mount Lyell (3), 19s lid; N.Z. Farmers Co-op. 6i p.c., 1940 (2), £4l; Golden Dawn, 7s 7d, 7s 54d,.7s 4*d, 7« 3?d, 7s 3d, 7s 34d, 7s 3d; Mahekipawa. (2), 2fd; Blackwater, 6s 4d. Dunedin. —Blackwater Mines, 6s 6d. Sales reported: Govt, bonds, 54 P-c., 1937, £99 15s; Okarito, cum. div. (3), 9s 6d; Bank of New Zealand, £2 4s 9d; National Bank of N.Z., £3 11s. AUSTRALIAN STOCK EXCHANGES. SYDNEY, Feb. 19. The dramatic developments in the Federal Parliament last night had no apparent effect on the Stock Exchange to-day except to restrict the. turnover, which was below normal for Friday. Coraomnwealth bonaa were nrmer au round; four per cents., 1939, £95; four per cents., 1941, £93 7s 6d; four per cents., 1944, £93 6s 8d; four per cents., 1950, £9l ss; four per cents., 1947, £92 8s 9d; four per cents., 1951-55, £9l 12s; 1951-53, £9l 7s 6d; 1951-57, £9l 15s; 1951-61, £92 15s. The market otherwise was fairly steady, and sales were: Bank of New South Wales, £3O; Mercantile Mutual, Burns, Phiip, 39s 6d; Henry Jones, 28s 9d; Australian Gas A, ex dividend, 107 s; Tooheys, 17s 9d; Tooths, 26s 9d; Goldsbrough, Marts, 25s 9d; Dunlop Perdnau,. 12s 3d; Berlei, Limited, 18s 6d; ditto, pref 20s 9d; Automatic Totalisators, 9s_6d; North Broken Hill, 71s; Sulphide Corporation, 10s lOd; Zinc Corporation, 31s. , . Morning sales: Commonwealth bonds 4 oer cent. (1938). £94 15s; 4 per cent. (1941), £93 le 3d to £93; 4 per cent. (1944), £92 12s 6d- 4 per cent. (1950), £9l 2s 6d; 4 per cent. (1951), £9l 10s to £9l 12s 6d; 4 per cent. (1951-61), £92 ss; Sulphide Corporation, 10s 7d; New Guinea Goldfields, 5s 8d to 5s 9d, and delivery six weeks. 5s lOd. MELBOURNE, Feb. 19. Early sales: Goldsbrough. Mort, 25s 44d; Australian Glass. 33s 9d; Dunlop Terdriau, 12s 4d; Herald Weekly Times, 42s 6d; North Brokers, 71s; Broken Hill Proprietary. 16s 2d • Electrolytio Zinc, 15s 3d; Mt. Lyell, 22s 6d.’ GRAIN AND PRODUCE. CANTERBURY MARKETS. Per Press Association. CHRISTCHURCH, Feb. 19. The advance in potato prices recorded at mid-week continued to a slight extent later and up to £5 12s 6d f.o.b. was paid in a few cases. However, as a result ot the rain there is an easier tendency and to-day buyers are not operating at £5 10s for April-June delivery, whilst J 1 tember is quoted at £6 10s to £6 12s 6d. With an absence of buyers the on true* price is from £4 2s 6d to £4 10s per ton, but farmers have not appeared much in the operations so far, the business being o£ a speculative character. . , . . Other active interest m the market is provided by onions. On the present Australian prices there is a margin for export, but not a very substantial one. and the market to farmers has improved by 10s a ton, the on truck price being £6. There is no change in the oats market. Fowl wheat is quoted at 4s 6d for prompt delivery. Millers are not buying so freely. The break in the weather will interrupt deliveries. A little business with the north has taken place in small seeds. Cooksfoot is scarcely so firm and Peninsula is quoted at 6d to 6Jd per lb.; Plains a* 4d to sd. White clover, which is likely to be a short crop, is selling at Is 6d a lb., a case or two over this prioe for particularly good seed being recorded.

MEAT INDUSTRY. ] UNSETTLED WORLD CONDITIONS. “IMPOSSIBLE TO - FORECAST TREND OF MARKETS.” In his address to shareholders at the annual meeting of the New Zealand Refrigerating Coy. Ltd., at Christchurch, Mr H. A. Knight, chairman of directors, spoke briefly of the outlook for this year. “It has perhaps never been more difficult to form an opinion as to the prospects,’,’ he said.* “The deplorable drought in Canterbury, which is little short of a disaster in the southern area, is likely to seriously curtail killings in this area. In . the more southern districts and in the West Coast of .the North Island .from where the Imlay works draws its supplies, the conditions have been much more favourable and normal killings may be expected. Under the present unsettled political and financial conditions ruling throughout the world, it is quite impossible to attempt to forecast the trend of the markets. It is, however, fortunate for us that in Great Britain, which is much the most important market for our product*,, conditions lare showing some signs of improvement. "The control of exchange recently introduced by the Government is as you know exercising the minds of all thinking people at tho pesent time and has a definite bearing on our business. Without attempting to go into the various aspects of this very intricate subject, I associate myself with those who claim that the best interests of the country would bo serevd if the exeliange were left free to respond to the ordinary influence of supply and demand. I cannot bring myself to believe that artificial control in this or any other economic sphere produces equitable results or is ultimately beneficial. At the same time. I think you will all sympathjse with the Primo Minister in the difficulties with which he is faced.” WELLINGTON PRODUCE MARKET. (By Telegraph.—Special to “Standard.”) WELLINGTON, Feb. 19. Quotations for new wheat have had an effect in easing prices which are 5s 9d per bushel and 5s 6d escond grade. Potatoes have also declined slightly, locals soiling at 5s 6d to 6s per cwt. Onions: Pukekoho steady at 9s 6d to 10s per bag; a small supply from Canterbury is quoted at tho same rate. Bran, £6 per ton. Polalrd, £6 10s por ton. Chaff: Bleiheim oatsheaf, £6 10s por ton, sacks in. Maizo: Now Zealand 5s 9d per bushel. South African, cracked, 5s 3d to 5s 6d. Oats, A grade Gartons, 4s ' per bushel; B grade, 3s 9d; heavy machine dressed Dunnes, 5s 9d per bushel.

EGG-LAYING. MASSEY COLLEGE CONTEST. Tho following aro tho 46th week’s results of the Massey College egg-laying contest:— Light Breeds.—F. Ecob, 211, 231, 224, 219, 271, 246 (29)—1402; S. G. Batten, 202, 202, 185, 183, 210, 275 (29)—1257; L. B. Maunscll, 222, 220, 180, x, 202, 200 (31) 1218; Mrs D. A. Stewart, 192, 198, 182, 199, 179, 177 (22)—1127; K. Brazcndalo, 267, 128, 186, 177, x, 181 (24)—1094; A Norman, (5 birds), 200, 182, 93,. 185, x, 254 (23)—1082; M. L. Boyce. 147. 201, 163, x, 216, 216, (18) —1076; J. N. McLean, 185, 132, 171, 178, 176, 167 (20)—1009. Heavy Broods.—J. N. McLean, 215, 221, 191, 112, 195, 151 (25)—1085; H. Rushton (5 birds), 162, 168, 138, 190, 180, 146 (22) — 934; Mrs J. A. B: Hollaby (4 birds), 216, 235, 73. 271, 63, 43 (18)—901; IC. Mouldcy (5 birds), 32, 132, 73. 82, 170, 123 (10) 612. x Signifies underweight eggs. METALS MARKET. SYDNEY, Feb. 19. The official London (middle; quotations for Thursday, as received by the Auetranan Mines and Metals Association, compare as follow with those previously cabled:

MONEY MARKET. BANK OF ENGLAND RETURN. . LONDON, Feb. 18. The following is the Bank of England return: — ISSUE DEPARTMENT.

BANKING DEPARTMENT.

Proportion of reserve to liabilities 43.60 per cent., short loans 4 per cent., three months’ bills 4 3-8 per cent.

N.Z. GOVT. LOANS- £ 8. d. £ e. d. 54 d.c. bonds, 1937 ... 99 5 0 — 6 99 2 6 54 p.o. ditto, 1936 ...... — 99 15 0 5j p.o. ditto, 193?*...... DEBENTURES— ■* 99 5 0 99 12 100 0 6 Well. Racing Club ... Well. Harb. Bd., 5i 1 0 p.c., 1940 97 10 0 — Makerua Drn. Bd., 6 p.o., 1946 and 1950 ... BANKS96 10 0 0 14 Commercial Aust., ord 0 14 0 5 Commercial Bank. Co. 15 0 0 New South Wales —- *26 5 0 New Zealand 2 4 6 ■ ' Ditto, long term 1 5 9 — 0 Union of Australia ... FINANCIAL — - 7 6 Goldsbrough, Mort Abraham and Williams, 1 2 6 I. 3 ‘3 12 6 — 6 NfZ. Guar. Corp., ord. N.Z Invest. Mtg & 0 4 .4 0 4 0 9 9 9 N.Z. *Loan and Mero., 45 0 0 Well. Trust and Loan — 6 1 0 Well. Invest., T. & A. — 0 10 0 Well. Dep. and Mort. MEAT PRESERVING— 0 10 0 15 0 Well Meat Ex., pref. WOLLEN— 0 Kaiapoi, ord. Wellington, ord. 0 4 6 2 6 6 — COAL1 11 — 1 3 9 TIMBER— 0 10 0 0 5 0 0 12 9 BREWERIESNew Zealand 1 5 3 1 5 11 Tooth and Co MISCELLANEOUS — 1 3 0 British Tobacco, ord. i 5 9 1 7 0 Colonial Sugar 38 10 0 — D.I.C., ord (10s) — 0 12 6 Electro. Zinc, pref. ... *1 0 6 — - National Electrio — 0 10 0 N.Z. Drug 2 5 6 . — Wilson’s Cement — 9 1 12 6 Woolworths, pref 1 4 — Farmers’ Trading MINING— ~ 0 5 6 Mount Lyell 0 19 7 >T 0 3 , Waihl —: 0 17 7 Golden Dawn 0 7 b — Blackwater 0 6 0 TConaol. Goldfields 0 2 0 _ *Cum. dividend. .

Feb. 17. Feb. 18 Per Ion. Per ton. Copper— £ s. d. £ 8. d. Standard, spot 38 16 5 38 18 9 Standard, forward 37 18 9 38 6 3 ■"Electrolytic 42 0 0 41 10 0 to 43 0 0 42 10 0 Wire bars 43 0 0 42 10 0 Spot 15 0 0 15 0 0 Forward 15 0 0 15 0 0 Spelter— 14 8 9 14 7 6 Forward 14 15 0 14 15 0 Silver— ' Standard, per oz . 19 9-16d 19 9-16d Fine, per oz ...... . 21Ad 21Ad lb. "American electrolytic, 6.25 cents per

£ Note issue in circulation ... 344,882,554 Banking department ... 50,883,927 £395,766,481 £ Government debt ... 11,015,100 Other Government securities ... 251,294,351 Other securities ... 8,842,388 Silver coin ... 3,848,161 Gold coin and bullion ... 120,766,481 £395,766,481

Proprietors’ capital .... 14,555,000 .... 3,640,793 Public depositsOther deposits, banks Other accounts Seven-day and other bills . .... 15,358,981 .... 70,455.852 .... 31,988,874 2,037 £135,999,537

Securities— £ Government .... 33,495,906 Discounts and advances .... .... 11,944,547 Notes .... 50,883,927 Other securities .... 39,124,051 Gold and silver coin 551,106 £135,999,537