YESTERDAY'S SALES.

New Zealand Herald, Volume LXVI, Issue 20306, 13 July 1929, Page 7

YESTERDAY'S SALES.

BUSINESS ON EXCHANGES.

RETURNS ON INVESTMENTS. Following is a list of yesterday's transactions on New Zealand Stock Exchanges. In the second column is given the return, based on the last dividend, from investment at the quoted price. In the c«se of Government and other redeemable securities the return includes redemption. The first column gives the figures at which the sales were made:—

AUCKLAND EXCHANGE. Return on Sale Price. Investments.

£ a. d. £ b. d Com. Bank of Aus. IJO 0 5 0 0 Ditto (pref.) . . 710 0 5 8 0 Bank of N.Z. .. a 1 6 4 18 3 Kaiapoi (prcf.) . . 036 0 C 7 6 JC.Z. Breweries (deljß.) 1 f> 9J 7 0 4

Ditto (Ehurcs; . . 819 1 315 S Aucldnncl Gas . . 1 4 fir. 10 7 Electro.-Zinc (prcl.) . ]l7 C 6 8 0 Snnford . . . . 015 3 713 £> CHRISTCHURCH EXCHANGE. Kat. Bunk of Axis. {£s pd.) (2) .. 915 6 6 2 3

Ditto . . . . !!](><> 5 2 0 Bunk of N.Z. . . 3 1 i> 413 0 Union Bank of Aun,

UVlcib. regr.) . . 15 U C 411 4 Coin. Bunk oi Aus.

(pref.) . . . . 710 0 5 6 0 Aub. Bank of Com. 116 7 4 7 5 Nat.. Insurance (41 . 016 3 412 4 Goldsbrough, Mort (3) 2 7 6 6 6 4 N.Z. Breweries . . 3 18 6 316 5 Ditto (2) . . . . 319 0 315 11 Tooth's (cum bonus issue) (odd lot) . 3 2 6 4 0 0 British Tobacco . . 2 8 8 410 5

Henry Jones . . 114 9 515 0 Electro.-Zinc (pref.) lcuru div.) . . 117 1 6 9 6 Farm Co-op. (10s pd.) 0 2 6 Farmers' Fertiliser .13 3 6 17 8 Vic. Nyanza Sugar .266 690 Colonial Sugar (2) . 58 0 0 4 6 2 Kempthorne-ProßSer . 315 R 5 6 4 Union Steam (pref.) 113 5 9 5 Ins. Stir., 1938, 4J (2) 100 0 0 4 10 0 WELLINGTON EXCHANGE. Bank of N.Z. . . 3 16 413 8 Bank of N.S.W. . . 51 12 6 4 16 10 Geicisbrough, Mort . . 2 710 6 5 5 Ditto . . . . 2 7 101 6 5 4 Equitable Building . 810 0 517 8 Auckland Gas ..146 6 10 7 Kaiapoi (pref.) . . 016 0 6 7 6 N.Z. Breweries .. 3 IS 6 3 16 5 Burns, Philp ..270 Taranaki Oil ..030 DUNEDIN EXCHANGE. N.Z. Breweries .. 318 9 316 2 ChriFlcbnrch Gas .. 17 6 5 16 4 Electro.-Zinc (pref.) 117 3 6 610 MINING SALES. Auckland.—Waihi. 12s Id; Mt. Lyell. 43s Cd. ■Wellington.—Waihi, 12s.

LONDON WOOL SALES.

SOME FAIR COMPETITION

Australian and X.Z. Press Association. LONDON, July IX,

At the wool sales 9431 bales were offered, of which 4373 were New Zealand. There was an average selection of topmakers' and spinners' sorts. Merinos were in fair supply. There was a medium offering of greasy crossbreds and a good offering of slipes, with fair competition and some withdrawals. Prices were unchanged. The following New Zealand clips made the prices stated: —Greasy half bred, Otekaike, top price, 21d; average, 19d. Hakateramen, scoured, halfbred, 34j»d and 33d. HIGH COMMISSIONER'S REPORT. The Department of Agriculture has received the following cablegram, dated July 10, from the High Commissioner for New Zealand, London:—The wool sales opened yesterday with large and fairly active competition. Opening selection very poor, with Merino offerings small. New Zealand chiefly represented in slipe. As expected, prices have declined, compared with closing rates at last series, as follows:—Greasy Merino, 7£ per cent.; fine crossbred, nothing offered; medium crossbred, 5 per cent, to 7£ per cent.; coarse crossbred, 5 per cent. Slipe: Fine halfbred, 10 per cent.; medium crossbred, per cent.; coarse crossbred, 5 per cent. Total of 127,500 bales are available for the series, as follows:—Australia, 58,000; New Zealand, 47,000; South America, 20,000.

PRODUCTION OF TIN

FORMATION OF ASSOCIATION

Australian esd N.Z. Press Association. LONDON. July 11. At a meeting of over 300 delegates and directors of tin-producing companies, comprising 137 companies, with a total annual production of about 100,000 tons of tin ore, it was unanimously resolved to form a Tin Producers' Association. A council of 21 members was elocted. AMERICAN FARM RELIEF. ADMINISTRATOR APPOINTED. Mr. R. W. Morgan, manager of the International Harvester Company, of New Zealand, Limited, has received cabled advice to the effect that Mr. H. C. Hoover, President of the United States, has appointed Mr. Alexander Legge as chairman of the Federal Farm Board to administer the law in aid of American agriculture. Mr. Legge has resinned his position as president of the International Harvester Company, and Mr. H. F. Perkins has been elected president.

MARKETING OF PIGS.

REORGANISING THE ASSOCIATION.

[BX TELEGRAPH. —OWN CORRESPONDENT.] HAMILTON. Friday.

During the last season the New Zealand Co-operative Pic Marketing Association handled 43.000 pics, fin increase of 50 per cent, over the previous figures. The turnover for the year totalled £150,000. Referring to the position yesterday Mr. £. H. Judd, chairman of directors, said it was proposed to reorcanise the association with a view to eliminating some of the weaknesses that were inevitable in a concern which had no capital. It was proposed to form a new company with a capital of £25,000, divided into 2s shares. As the individual shareholding would be small, no interest would be paid. An effort would be made to register the company under the Dairy Industries Act. The provision of capital, said Mr. Judd, would enable a standard advance payment to be made at all times and on all classes of supply. Further, it would enable final payments to be made more quickly, as it would be utilised for this purpose. Also, being replaced several times yearly on the receipt of proceeds of sales, it would so be utilised several times during the year.

MELBOURNE PRODUCE, ■ Australian and N.Z. Press Association. MELBOURNE, July 12. The following are to-day's quotations on the Melbourne produce markets:— Wheat.—ss to 5s Id. Flour.—£ll 5s to £ll 10s. Bran.—£7. Pollard.—£7 10s. Oats.—3s 9d to 3s lOd. Barley.—English, 3s 6d to 3s 7d« Maize.—ss 2d,