STOCK EXCHANGES.

New Zealand Herald, Volume LXVIII, Issue 20889, 3 June 1931, Page 5

STOCK EXCHANGES.

YESTERDAY'S SALES. RETURN ON INVESTMENTS. Following is a list of yesterday's transactions on New Zealand Stock Exchanges. In (lie second column is given (lie return, based on tho last dividend, from investment at the. quoted price. In the caso of Government and other redeemable securities the return includes redemption. In calculating the returns on shares in companies which pay their dividends outside New Zealand exchange rates, being liable to fluctuations, have not been taken into consideration. The first column gives the figures at which the sales were made:— AUCKLAND EXCHANGE. Tic (urn on Sa 1 o Price. Investment. X s (1 £ s d ina. Stock, 1927-11, 51 07 0 0 5 13 0 Ditto, io:w, M .. oh o o .1 i<; it Will- Bonds, 1938, 4) 93 5 0 1 if, l A licit. liar. Bd. 'II, li 101 10 0 f> Hi 0 Waiigamii City, '-13, 5J 1)7 0 0 0 0 5 Com. BankAust. (2) (I It 1 Hl7 G South British Insur. 211 0 5 4' 7 Dom. Invest. & Batik. 018 0 715 7 Farmers' Trading .. 0 (5 10 9 7 4 Wailii Mining .. OH 7 13 11 3 WELLINGTON EXCHANGE. Bank of N.S.W. (2 lata sales Monday) 25 0 0 7 4 0 Union Bank Ails. (2) 7 9 0 Cll 3 CHRISTCHURCH EXCHANGE. Union Bank of Ana. 7 9 (i f> 13 9 N./,. Breweries .. 115 (i 7 010 The following sales also took nlnce:—King Solomon, 2s Id, 2a 2d (G>; Mount Lyell, 17s 2d (2). DUNEDIN EXCHANGE. The following sales look place:—New Zealand Refrigerating (10s paid), 33 9dj) King Solomon, 2s Id. GROUP HERD-TESTING. DIFFICULTIES OF FINANCE. FURTHER ASSISTANCE ' SOUGHT. [FIIO.U OCR OWN CORRESPONDENT.] HAMILTON*, Tuesday. 'I lie position in regard to herd-testing for the coining dairying season was mentioned to-day by Mr. Dynes Fulton, chairman of directors of the New Zealand Co-operative Herd-testing Association. ilr. Fulton said the directors of his association fully realised that owing to the low prices obtaining for dairy produce, farmers had been forced to seek ways and means of reducing their production costs, with the result that group herd-testing must obviously feel the effects of the present serious economic depression. It was more necessary than ever that only the good producers should be retained in the herds.

He stated that no canvassing had yet been done in respect of the new season's operations, and consequently he was not, yet in a position to say whether full groups would be maintained next season. The management of the association fully realised the necessity for reducing testing fees to a minimum, but this could only take place as far as the association's own finances would permit. With a substantial reduction in group testing fees, 'which could only he brought about by financial assistance from the Government or the Now Zealand Dairy Produce Control Board, tho present strength of the membership of tho various group herdtesting associations in the Dominion should be maintained.

Mr. Fulton emphasised ilie importance of herd-testing at the present time, and a very serious set-back to (he industry would take place if testing was allowed to decline next season.

Mr. Fulton said arrangements had been made for him to place the matter before the National Dairy Conference, requesting the industry to seek the financial assistance of the Dairy Produce Board through the period of depression.

THE LONDON MARKETS. PRICES FOR METALS. y (Received Juno 2. 9.45 p.m.) LONDON, .Tune 2. (Quotations on. Mav 28 in parentheses.) Copper.—Spot, £35 16s 10Jd (£36 16s 10^d); three months, £36 10s 7id (£37 10s 7^l). Electrolytic Copper.—Spot, £4O (£39 10s) ; (hree months, £4O 10s (£4l 10s). Wire Bars.—£4o 10s (£4l). Lead.—Spot, £lO 15s 7J-d (£11); three months, £ll '2s 6d (£ll ss). Spelter.—Spot. £9 18s 9d (£lO 6s 3d) ; three months, £lO 10s (£lO 10s). Tin.—Spot, £IOO 13s 9d (£lOl 8s 9d); three months, £lO2 3s 9d (£lO2 18s 9d). Silver.—Standard. 0r..; fine, WHEAT. Wheat.—Cargoes are 3d easier,. Parcels show 3d to 6d decline. Futures: London, .Tune, 19s 7d a quarter; September, 19s 9|d. Liverpool. July, 4s 27-8 d a cental; October, 4s 4 l-8d; December, 4s s^d. BRADFORD TOPS. The market is weak, with no business passing., HIGH COMMISSIONER'S REPORT. The Department of Agriculture has received the following cablegram, dated May 30, from the High Commissioner for New Zealand, London:— Hemp.—The Manila market is dull and about steady. "K " grade for May and July and June and August shipment is quoted at £l6 10s sellers. The sisal market is steadier. Closing value No. 1 good marks for May and July and Juno and August shipment £ls 15s. Fair average quality £ls 10s. The New Zealand hemp market is quiet and quotations are nominally unchanged. No first hand sales are reported. Fruit. —Tho market, is practically cleared. The Cornwall and Rangitane consignments arc now being delivered. Current prices are;— Apples: Jonathan and Stunner, lis to 13s a case; Delicious and Premier, 10s 6d to 12s. Pears: Winter Nelis and Winter Cole, 10s 6d to 14s a case.

AUSTRALIAN STOCKS. PRICES IN NEW .YORK. NEW YORK. June 1. On tlio New York Stock Exchange today Commonwealth 5 per cents., 1955, were quotod at 554,; 1957, 53J; per cents., 50i. New South Wales 5 per cents., 1957, 40!y, 1958, 40J,. Queensland 6 per cents., no sales; 7 per cents, 70.

SLUMP IN STOCKS. NEW YORK EXCHANGE. NEW YORK, June 1. Millions of dollars wove lost on tho stock market to-day, with prices making tho largest losses experienced in any session this year. Railway prices broke sharply and industrials, including United States Steel Corporation, also dropped considerably. Oil, mat or, amusement and food companies' stocks were all swept downward. The market, opened lower and continued to decline without interruption..