WORLD OF COMMERCE

New Zealand Times, Volume LIII, Issue 12507, 24 July 1926, Page 9

WORLD OF COMMERCE

WELLINGTON STOCK EXCHANGE YESTERDAY'S QUOTATIONS. 13.15 p.oi. Cali.) Yesterday’s closing quotations for premiums of investment and mining stock, as advised by the Wellington Stock Exchange, are as follow:

Sale reported.—Ward and Co. (Brewery), £2 4s. , SALES CENTRES Per Press Association. AUCKLAND, July 23. Sales; New Zealand Insurance, 42s 6d; Auckland Gas (contrib.), 12s 3d; Electrolytic Zinc (prof.), 365; Grey and Meiizies, 12s 9d; New Zealand Farmers' Fertiliser, 95s 6d; Alburnia, 4s lOd to 4s 6d; Kawarau, 7s, 7g Id; New Waiotahi (contrib.), Is 3d; Ohinemuri, 6s 2d; Waihi Grand Junction, Is sd; Mount Lyell, 25s 9d. CHRISTCHURCH, July 23. Sales on 'Change: National Bank of New- Zealand, £6 16s 6d; Bank of New Zealand, 625. Sales reported.—Beath and Co., 335; Goldsbrough Mort, 4&s lOd (two parcels); Staples Brewery, 89s (three parces), 39s 6d. Sales on 'Change—Goldsbrough Mort, 48s lOd (two parcels). FOREIGN EXCHANGE RATES FRANCS FALL"FURTHER. Australian and N.Z. Cable Association. LONDON, July 22. The rates of foreign exchange, as compared with par rates, or as averaged first half of 1914, are:—

BANK OF ENGLAND RETURN WEEKLY RETURN. Australian and N.Z. Cable Association. LONDON, July 22. The following is tho Bank of England return for tho week ended July 21st: Issue Department. £ Notes issued 170,201,000 Other securities 8,735,000 Gold, coin, and bullion 150,451,000 Banking Department. Rest 3,477,000 Public, deposits 7,612,000 Other deposits 114,972,000 Seven-day and other bills 5 000 Government securities 40,540,000 Other securities 69,942,000 Notes 28,854*,000 <jo!d and silver coin 1,282,000 Proportion of reserve to lia- ... 24.50 p.c. Short loans 4 p iCt Rate of discount for 8 months' bills 4 0-32 p.c. LONDON CTOCiTixCHANGE CONSOLS AND COLONIAL STOCKS. „ ~ . LONDON, July 22. following nrn the current quotations for Consols and for British and Dominion government stocks, compared with tho quotations of July 15th : July July 22nd. 15lh.

ENGLISHJWARKETS FOREIGN AND COLONIAL PRODUCE LATEST QUOTATIONS. Australian and N.Z. Cable AssociationLONDON, July 22. Butter.—There is a, slightly improved demand for tho best sorts, but inferior qualities are very slow. Choicest, salted, New Zealand, 168 s to 1765; Australian, 161 sto 1665. Unsaltcd, about 2s premium. Danish, firmer, 178 s. Cheese. Dull; Now Zealand, white, SSs; coloured, 82s. Australian, none offering. Wool. —At tho London sales there was an average selection of merinos. Irregularity of sales continues with frequent withdrawals. There was a good selection of crossbreds and better and more general competion with prices slightly firmer. New Zealand slipes, Canterbury, 21d per lb. In the Bradford market, there is very little business. Quotations are firm, nominally unchanged. Sheepskins.—At tho sales, Australian clothing merinos realised par to 5 per cent, decline, compared with June rates. Now Zealand's average was 5 per cent, dearer. A feature of tho saTe was the keen American demand for all New Zealand’s, also the best Australian's. The Homo and Continental demand was. indifferent. Many Australian offerings were withdrawn. Hides.—Australian, no demand. Prices nominally unchanged. Ee.bbitskins —At the sales there was a poor demand, chiefly owing to depressed Continental exchanges. In ail 3266 bales were offered, anil 1127 fold. Furriers sorts, thin-uelted, nmrlectod : stout-pelteu, 10 per cent, nfiove May. Hatters’ sorts, lato rates to 10 per cent, decline. (Received July 23, 9.30 p.m.) Metals.— Copper, spot .£SB Cs 3d a ton, forward J 359 Is 34; lead, A“32 2s 6d and j;3l 16s 3d; spelter, X 34 and ,£3l 8s 8d; tin, £286 17s Gd and .£283 2s 6d; silvei-, standard 29 11-JGd au ounce, fine 32 l-16d. FROZEN MEAT Messrs Dalgcty and Company, - Ltd., report having received the following cablegram from their London house under date of the 22nd instant: "Lamb—New Zealand prime crossbred lamb, Canterbury, heavy Bd, light SRd; North Island, heavy 7l!d, light 8-id. Market weaker; demand runs principally on light-weights. "Mutton—New Zealand prime crossbred mutton, Canterbury, heavy sld, light 6£d; North Island, heavy sd, light 6d. Market weak; demand fair. "Beef—New Zealand prime ox beef, hinds and fores, not - quoted. Australian frozen meat—Good average quality crossbred - lamb, heavy and light, not quoted; good average quality crossbred mutton, light 4d, heavy not quoted. Market weak; demand limited. DAIRY PRODUCE Messrs Dalgety and Company, Ltd., report having received the following cablegram from their London house under date of the 22nd instant: "Butter—More inquiry for finest. Danish, on spot, nominal; f.0.b., 3745. New Zealand, finest salted 170 s (166 s to 168 s). Australian, finest -salted ,166 s ,to 168 s 064 s to 168« s); unsalted 170 s (164 s to 168 s). "Cheese—Market slow. We quote New Zealand, coloured 82s to 84s (82s to 84s), white 87s to 89« (87s to 89s). Canadian, white 87s to 89s (87s to 89s), coloured 82s to 84s (SSs to 845)." Last week's quotations shown in parentheses. Messrs Joseph Nathan and Co., Ltd., have received the following cablegram from their London house, dated July 22nd, 1926:—"New Zealand butter 170 s to 1725." HIDES, SKINS, AND TALLOW There was a fair attendance of buyers at yesterday's sale of hides, skins, and tallow. Skins.—As compared with last sale prices, dry skins were $d to id per lb cheaper. Salted skins on a par. Prices ranged: Half bred 2d to 13d; fine crossbred to 13d; medium-coarse crossbred 9d to short to half wools 6£d to 12d; lambs B£d to 12^; dead and damaged crossbred s£d to B£d; inferior and badly damaged 2£d to 7|d; pelts 6±d to 9id; damp, suited and green 6s 6d to 8s 8d; pelts, salted —; lambs, salted, 3s 6d to Bs.

Hides. —Heavies, mediums and lights were in good demand at last sale prices, whilst kip and yearling were from id to Id per lb cheaper. Calf easier, with little demand. Prices: Ox, extra heavy, 701 b and over, B£d to 10id; ox, heavy, 591 b to 691 b, 8d to lOd; ox, medium 531 b to 581 b, 7id to Sid; ox, light, 451 bto 521 b, Did to 6jjd; cut, slippy and inferior, 2d to 6d; cow, heavy, 531 b and over, s£d and 6j|d; cow, medium, 451 b to 521 b, s£d to 6jd; cow, light, 331 bto 441 b, 5d to 6d* cut, slippy, and inferior, 2d to 53d; bull, stag, 3±d to sd; yearlings, lllb to 161 b, 7d to 7-jd; yearlings, 171 b to 321 b, 5:Jd to 6Jd; calf, superior, up to 101 b, —; calf, medium to good, up to 101 b, 6d to 9ld; calf, damaged, up to 101 b, Id to 6fd. Talloiv on a par,' in casks, 28s 6d to 32s 6d; in tins, etc., 2Js to 255. ' Sundries—Horsehair 21Jd to 21Jd- cow tails 14tl. ‘ SHEEPSKIN SALES Messrs Dalgety and Co., Ltd,, report having received the following cablegram from their London house, under date of tho 22nd instant:— "Good attendance of buyers. Competition irregular for all sorts except New Zealand crossbred, which sold at late rates. Best Australian fuli-woolled merino skins unchanged. Poor demand for clothing skins. Bulk witdrawn, and prices full 3 per cent, lower. America are principal operators. Continental buyers are inactive." LONDON SHEEPSKIN SALES Messrs Murray, Roberts and Co., Ltd., arc in receipt of the following sheepskin market cablegram from tlicir London agents, dated 22nd instant" New Zealand .sheepskins par to 5 per cent, advance." FEILDSNG STOCK SALE GOOD YARDING AND POOR. DEMAND. Per Press Association. EEIILDING, Jully 23. At the Feilding stock sale there was a good yarding of good quality fat sheep, but the demand was very poor, consequently prices receded on last sale rates. The store pens consisted of good and medium ewes in lamb and hoggets, which were keenly sought, and a good sale resulted. Fat lambs, 16s, 16s 7d to 20s, 275; ewes realised 15s 7d and 17s 9d to 22s 7d; wethers, 2.1 s 6d, 26s 7d to 27s 7d, .‘Us. Stores, 4 and 5-venr ewes running with Southdown rams, 15s <M, 16s fid, 18s lid to 2ts 3d; 4-year ditto, 255; black-faced lambs, 14s 6d ; f. and f. owes, 9s 9d and 15s; mixed faced lambs, good, 18s 7d; others, 14s 9d and 16s sd.

Cattle—The yarding comprised dairy stock and fat cattle. Dairy cattle were very dragging, practically the whole yarding being passed, and fat cattle were not wanted, only nn odd single boast felling. Good 3-year springing Jersey heifers made £lO 10s (sold after sale); good fat cows, £6 5s to £7 10s; good fat heifers, £7 12s 6d; a nice lino of B£-yenr forward Hereford bullocks wero passed at JC7 8s Gd mangawekT SALE Dalgety and Co., Ltd., Palmerston North, report having a small entry of sheep and cattle at their Mnnagawcka sale on Thursday, the 22nd instant:— Quotations—M.A. owe in lamb. 17s 3d to 17s 6d; rough yearling steers, 13s; rough 21-yioar steers, .02 17s to £3; 3-ycar stoorß, .£6* k

POTATO JARKET NEXT SEASON’S YIELD LARGER CROP” ESTIMATED. Per Press Association. CHRISTCHURCH, July 23. The publication of the Statistician's figures of the potato crop has had a depressing effect on the market. It was fully expected that the yield per acre would be heavier. The actual yield last season was 5.27 tons to the acre, and the estimate this season is 6.30 tons. The gross total last season was 122,184 tons, and the estimate this season is 145,000 tons. To-day tubers were sold for coastal shipment at £G 10s f.0.b.5.i., for prompt delivery, and for August delivery £6 17s 6d has been mentioned, with some business up to £ 7. One sale, under Sydney conditions, has been made at £7 10s, but when the potatoes have to he picked out of the pit the spread between the coa6tal and Sydney f.o.b. prices is narrowed down considerably. The most that farmers would be offered to-day for Sydney August shipping is £5 10s. The Katoa yesterday took between 5000 and 6000 sacks to Auckland, from Timaru, and the Waipahi to-mor-row is expected to take nearly a similar ! quantity. The Karetu is the next vessel for Sydney, about the end of the month. Farmers are selling very few tubers in the meantime, preferring to leave the potatoes in the pit until the quantities in store are consumed. The oats market is dead. The importation of Chilian and Canadian oats has settled the northern inquiry for the time being. A's are quoted at 4s a bushel f.0.b.5.i., and B\s at 3s lOd. There is a slight revival in the North Island demand for ryegrass and cow grass. Millers are freely offering 7s a bushel on trucks for wheat, hut are unable to secure much. A little, apparently, is left in farmers' hands. WHOLESALIfPRODUCE PRICES Laery and Co., Ltd., report wholesale values as follow :—Mixed fowl feed, 6s 6d to 6s CM per bushel, sacks in; linseed meal (Moose brand), 16s; linseed nuts Ms per 1001 b bags; linseed, whole, 20s Gd per cwt: mcntmeal. for poultry, 12s per cwt; oyster shell grit or pips shell . grit, 5-bag lots or over 5s Gd, lesser lots 6s 1001 b bag; oats, machine-dressed seed Algerians 6s Gd, farmers’ dressed seed Algerians 5s Cd. feed’ Algerians 4s lid, Duns 5s Bd* Gartons 4s 3d to 5s 4d, crushed 5s Cd, black oats 5s 6d per bushel, sacks in; South African maize, whole 7s 3d. crushed 7s 9d; barley feed 5s 9d, seed 6s per bushel; rvo corn, 5-sack Jots or over 6s Bd, single sacks 6s ICd, sacks in; partridge peas Bs, feed peas 7s 6d; Prussian blue 10s bushel, sacks in; wheat, milling, 8s 3d per bushel, sacks in; wheatmeal, feed, tons lots, <£ls 7s 6d per ton; eggs, first grade new-laid Is lid, storekeepers' lines Is lOd; blitter, prime farmers’ separator. Is 3d to Is 4d, dairy pats and hulk Is 3d to Is 4d; turkeys, Is 3d to Is 5d per lb; ducks, runner, young 12s to 14s, large whites 13s to 15s. old 9s to 11s per pair; fowls, White Leghorns 5s to 7s; Black Orpingtons and similar heavy varieties, 8s to 10s per pair; roosters, White Leghorns, 7s to 9s. heavy breed young 8s to 11s; fungus, New Zealand, 9d to lOd per lb; dressed pork, 60’s to 90’s 8d to 9d per lb: sucking pigs, B£d to 9£d per lb; Farro food, i-ton lots, £lO 15s per ton. lesser lots, 11s 3d; sucrosine, J-ton lots. ,£l2, lesser lots 12s 6d; Blenheim chaff, prime good bright, .£lO ss, good heavy £9* 15s, Australian wheaten ,£l3 per ton net, sacks in; cow chaff, ton lots JGfi, sack lots 7s per sack; rock salt, 6s 6d per bag; straw chaff, ton lots, £B, sack lots 5s 6d each; mutton birds in sacks of 450, 6d per bird, in kits (cooked or salted) Hid per bird; bran. J-ton lota or over, .£lO ton; pollard, 4-ton lots or over, .£ll 10s ton; oat pollard, £-ton lots £8 15a, lesser quantities 9s 1001 b; granulated enpreoal, 14s 9d per hag; basic slag £5 15s per ton, less discounts; Nikau day-old chick raiser, 22s per 1001 b bag; Nikau No. 1 coarse chick raiser, 21s per 1001 b bag; Moreg poultry spice, cases containing 40 packets £3 10s case, lesser quantities 2s 6d packet; potatoes, ton lots, Canterbury, £8 5s to £8 10s, North Island £6 10s per ton; early seed potatoes, ton lots, Arran Chief £7, Gamekeepers £7, Sutton Supreme seed £l3, all South Island grown; molasses, in casks 40s, .in cwt cases 8s 6d per case. CUSTOMS REVENUE The Customs revenue collected yesterday (July 23rd) was £3OBI.

Government Loans— £ s. d. £ B. d. Inscribed Stock (1938) — 98 15 0 Inscribed Stock (1933) 99 10 0 — Inscribed Stock (1930) — 99 10 0 War Bonds (1933) 96 10 0 — War Bonds (1933) P.O. Inscribed Stock 99 10 0 (1929) P.O. Inscribed Stock “ 98 2 6 (1927) 93 10 0 — P.O. Bonds (1927) Debentures— 98 10 0 - N.Z. Breweries (bonds) Unakaka Steel and 1 6 0 Iron, 8 per cent. ... Banks— 109 0 0 Australasia Commercial of Syd- “ 14 9 9 ney English, Scottish and — 26 15 0 Australian — 8 4 0 National of N.Z 6 16 0 — New South Wales — 45 5 0 New Zealand — 3 2 3 Union of Aiistralia ... Financial— Abraham & Williams 15 10 0 ford.l N.Z. Guarantee Corp. “ 4 1 0 (nrd., 8s) 0 9 U 0 10 1 Wn. Trust Loan Wn. Deposit and Mort6 5 0 - gage Wright - Stephenson 0 9 3 (ord.j Gas— 1 7 3 Auckland (cont.) Insuranee— 0 12 0 National 4 1 6 4 3 6 New Zealand Meat Preserving— N.Z. E c f r i g crating *2 3 3 (lOsi — 0 8 5 Wn. Meat Export Transport— 0 5 0 Huddart-Parker (ord.) 2 4 6 2 5 0 Union Steam (pref.) ... Coal—* Westport - .Stockton 1 0 3 (prof.) Breweries— 0 4 0 Ward and Co Miscellaneous — Electrolytic Zinc 2 3 0 2 5 0 (prof.) — *1 16 3 Howard Smith Wairnrapa Partners’ — 1 14 0 0 1G 6 — Wilson’s Cement Mining— 1 15 6 Waihi — *Cum div. 0 19 3

THE N JISP WILL HUr THE FLU I 24 MO mjfTmzrr: IT OUT INSIDE URS stm THE WORLD OF COMMERCE WELLINGTON STOCK EXCHANGE YESTERDAY’S QUOTATIONS. 13.15 p.01. Call.) Yesterday's closing quotations for premiums of investment and mining stock, as advised by the Wellington Stock Exchange, are as follow: — <£ s, cl. £ s. d. Government Loans— Inscribed Stock (1938) — 98 15 0 Inscribed Stock (1933) 99 10 0 — Inscribed Stock (1930) — 99 10 0 War Bonds (1933) S6 10 0 — War Bonds (1933) 99 10 0 — P.O. Inscribed Stock (1929) - 98 2 6 P.O. Inscribed Stock (1927) 93 10 0 — P.O. Bonds (1927) 98 10 0 — Debentures— N.Z. Breweries (bonds) — 16 0 Unakaka Steel and Iron, 8 per cent. ... — 100 0 0 Banks— Australasia — 14 9 9 Commercial of Sydney — 26 15 0 oLuLiinli and ONE NIGHT IF TAKEN IN TIME Australian — 8 4 0 National of N.Z 6 16 0 — New South Wales — 45 5 0 New Zealand — 3 2 3 Union of Australia ... — 15 10 0 Financial— Abraham & Williams ford.) — 4 10 We make Two Definite Statements in regard to ASPRO and INFLUENZA. Here they are 1—Two Tablets and a hot drink—either whisky or lemon squash—will stop you getting the ’Flu if taken on first symptoms. 2.—If you’ve got the ’Flu, ASPRO Tablets taken to directions in packet will clear it out in 24 hrs. These are no idle words—thousands have already proved their Truth. ’FLU ATTACK To-night YOU CAN! (md., 8s) 0 9 U 0 10 1 Wn. Trust Loan 6 5 0 — Wn. Deposit and Mortgage 0 9 3 — Wright - Stephenson (ord.; — 17 3 Gas— Auckland (eont.) — 0 12 0 Insuranee— National 4 1 6 4 3 6 New Zealand — *2 3 3 Meat Preserving— N.Z. E c f r i g crating (lOs’i — 0 8 5 Wn. Meat Export 0 5 0 — Transport— Huddart-Parker (ord.) 2 4 6 2 5 0 Union Steam (pref.) ... 1 0 3 — Coal—* Westport - .Stockton (pref.) — 0 4 0 Breweries— Ward and Co 2 3 0 2 5 0 Miscellaneous— Electrolytic Zinc (pref.) — *1 16 3 Howard Smith — 1 14 0 Wairnrapa Farmers’ (pref.) 0 1G 6 — Wilson’s Cement 1 15 6 — Mining— Waihi — 0 19 3 *Cum div. Sale reported.—Ward and Co. (Brewery), £2 4s. , SALES CENTRES Per Press Association. AUCKLAND, July 23. Sales; New Zealand Insurance, 42s 6d; Auckland Gas (eontrib.), 12s 3d; Electrolytic Zinc (pref.), 36s; Grey and Meiizii?6, 12s 9d; New Zealand Farmers’ Fertiliser, 95s 6d; Alburnia, 4s lOd to 4s 6d; Kawarau, 7s, 7g Id; New Waiotahi (eontrib.), Is 3d; Ohinemuri, 6s 2d; Waihi Grand Junction, Is 5<1; Mount Lyell, 25s 9d. CHRISTCHURCH, July 23. Sales on ’Change: National Bank of New- Zealand, £6 16s 6d; Bank of New Zealand, 62s. Sales reported.—Beath and Co., 33s; Goldsbrough Mort, 48s lOd (two parcels); Staples Brewery, 89s (three parces), 39s 6d. MINIM U C ESS V. I'b 2fc 46 : O BTA 1 ill ARLE e VCR v wh eb«.. Sales on ■’Change—Goldsbrough Mort, 48s lOd (two parcels). FOREIGN EXCHANGE RATES FRANCS FALL" FURTHER. ASPRO is now made in New Zealand by ASPRO LTD., 1S-17 Marion,St., Wellington <P.O. Box 29), under direotion of the Holder of the original Australian formula. Australian and N.Z. Cable Association. LONDON, July 22. The rates of foreign exchange, as compared with par rates, or as averaged Create a j guarding antiseptic film on your throat ty taking Bonnington's Irish Moss Large Family Size Bottle 2/6. 1 WHY ROSE HAS FAILED SCIENTIFIC EXPLANATION SEASONAL FLUCTUATIONS TOE CAUSE A PROFESSOR’S THEORY (By Telegraph.—Special to “Times.”) AUCKLAND, July New Zeaianu anu Australian cricket, tennis ana athletic teams competing in jtugiaud sutler uucier adverse seasonal influences whicu have a very marked ami unfortunate bearing ju tileir efforts, according to a tiieorv Hfxvolrtn«rl hv Vl’/ttoeenp A n W + f ... first half of 1914, are:— ■Tilly 22. .Tuly 10. Par. Brussels, francs to A 213.5 209.5 25.22$ Paris, francs to £ 218.0 222.5 25.22$ Stockholm, knr. to £ 18.16 '18.16 18.12 Oslo, knr. to £.. 22.15 22.17 18.12 Uopenha gen, knr. to £ 18.35 18.35 18.12 Berlin, reichsmarks to £... 20.43 20.43 — Rome, lire to £ 150.25 145.75 25.22$ Calcutta, pence to rupee 1715-16 1715-16 24 Yok ohama, pence to yen. 23$ 23 5-16 24.43 Hongkong, pence to dol. 26$ 26 24Montreal, dols, to £ 4.85$ 4.8513-16 4.866 New York, dols. to £ 4.86 5-16 4.86* 4.866 Amster dam, florins to £... 12.09$ 12.10| 12.107 Batavia, florins to £ 12.05 12.06$ —

THE K THE WORLD OF COMMERCE ACI % no i\ WELLINGTON STOCK EXCHANGE ff 1 Tlr* WILL HUf THE FLIT1 24 HO KV (TOUT INSIDE URS YESTERDAY'S QUOTATIONS. 13.15 p.oi. Calk) Yesterday's closing quotations for pre miums of investment and mining stock as advised by the Wellington Stock Ex change, are as follow: — <£ s, d. X s. d Government Loans— Inscribed Stock (1938) — 98 15 < Inscribed Stock (1933) 99 10 0 — Inscribed Stock (1930) — 99 10 ( War Bonds (1933) S6 10 0 — War Bonds (1933) 99 10 0 — P.O. Inscribed Stock (1929) - 98 2 ( P.O. Inscribed Stock (1927) 93 10 0 — P.O. Bonds (1927) 98 10 0 — Debentures— N.Z. Breweries (bonds) — 1 6 ( Unakaka Steel and Iron, 8 per cent. ... — 100 0 ( WILL ST dpi IT I n Banks— Australasia — 14 9 1 Commercial of Sydney — 26 15 ( English, Scottish and Australian — 8 4 ( National of N.Z 6 16 0 — New South Wales — 45 5 ( New Zealand — 3 2 J Union of Australia ... — 15 10 ( Financial— Abraham & Williams lord.'t — 4 10 N.Z. Guarantee Corp. (md., 8s) 0 9 U 0 10 1 Wn. Trust Loan 6 5 0 — Wn. Deposit and Mortgage 0 9 3 — Wright - Stephenson (ord.; - 1 7 S Gas— Auckland (cent.) — 0 12 ( Insuranee— National 4 1 C 4 3 € New Zealand — *2 3 5 Meat Preserving— N.Z. E c f r i g crating (10si — 0 8 5 Wn. Meat Export 0 5 0 — Transport— Huddart-Parker (ord.) 2 4 6 2 5 0 Union Steam (pref.) ... 1 0 3 — Coal—* Westport - .Stockton (pref.) — 0 4 0 Breweries— Ward and Co 2 3 0 2 5 0 Miscellaneous— Electrolytic Zinc (pref.) — *1 16 3 Howard Smith — 1 14 0 Wairnrapa Farmers’ (pref.) 0 1G 6 — Wilson’s Cement 1 15 6 — Mining— Wailii — 0 19 3 *Cum div. Sale reported.—Ward and Co. (Brewery), «£2 4s. , SALES IfToTHER CENTRES Per Press Association. AUCKLAND, July 23. Sales; New Zealand Insurance, 42s 6d; Auckland Gas (eontrib.), 12s 3d; Electrolytic Zinc (pref.), 36s; Grey and Menzie6, 12s 9d; New Zealand Farmers' Fertiliser, 95s 6d; Alburnia, 4s lOd to 4s 6d; Kawarau, 7s, 7g Id; New Waiotahi (eontrib.), Is 3d; Ohinemuri, 6s 2d; Waihi Grand Junction, Is 5<1; Mount Lyell, 25s 9d. CHRISTCHURCH, July 23. Sales on 'Change: National Bank of New- Zealand, <£6 16s 6d; Bank of New Zealand, 62s. Sales reported.—Beath and Co., 33s; Goldsbrough Mort, 48s lOd (two parcels); Staples Brewery, 89s (three parces), 39s 6tl. ONE NIGHT IF TAKEN IN TIME We make Two Definite Statements in regard to ASPRO and INFLUENZA. Here they are 1—Two Tablets and a hot drink—either whisky or lemon squash—will stop you getting the ’Flu if taken on first symptoms. 2.—If you’ve got the ’Flu, ASPRO Tablets taken to directions in packet will clear it out in 24 hrs. These are no idle words—thousands have already proved their Truth. ’FLU ATTACK To-night YOU CAN! MINIM U My l»m C ESS i; Ce 2'e 4e OBTAIMAWI.E EVERVWH E »«=;.■ Sales on ■’Change—Goldsbrough Mort, 48s lOd (two parcels). FOREIGN EXCHANGE RATES FRANCS FALL" FURTHER. ASPRO is now made in New Zealand by ASPRO LTD., 1S-17 Marion,St., Wellington <P.O. Box 29), under direotion of the Holder of the original Australian formula. Australian and N.Z. Cable Association. LONDON, July 22. The rates of foreign exchange, as compared with par rates, or as averaged ta. I guarding antiseptic film on your throat ty taking Bonnington's Irish Moss Large Family Size Bottle 2/6. 1 ,loTT 290 | WHY ROSE HAS FAILED SCIENTIFIC EXPLANATION SEASONAL FLUCTUATIONS TOE CAUSE A PROFESSOR’S THEORY (By Telegraph.—Special to “Times.”) AUCil.LiAi.VJJ, July 23. New Zealauu uuu Australian ci'iuKet, tennis ana athletic teams competing 111 jnugiand suiter umier adverse seasuiiui influences whicn have a 1017 warkea anil unfortunate bearing jii their efforts, according to a theory developed by Frolefisor A. 11. Fitt, 111 a lecture on seasonal fluctuations in hutnau behaviour by means of graphs, iveducing to averages data ouuuued first half of 1914, are:— July 22. -Tuly 10. Par. Brussels, francs to A 213.5 209.5 25.22! Paris, francs to £ 218.0 222.5 25.22! Stockholm, knr. to X 18.16 '18.16 18.12 Oslo, knr. to £.. 22.15 22.17 18.12 C o p e n h a gen, knr. to £ 18.35 18.35 18.12 Berlin, reichsmarks to «£... 20.43 20.43 — Rome, lire to X 150.25 145.75 25.22$ Calcutta, pence to rupee 1715-16 1715-16 24 Vok ohama, pence to yen. 23$ 23 5-16 24.43 Hongkong, pence to dol. 265 26 24Montreal, dols, to £ 4.851 4.8513-16 4.866 New York, dols. to £ 4.86 5-16 4.86* 4.866 Amster dam, florins to £... 12.09! 12.10| 12.107 Batavia, florins to £ 12.05 12.06! — BANK OF ENGLAND RETURN WEEKLY RETURN. COAL A USE V (STOCKTONl BScreened Nutsi IS WELL GRADED, CLEAN AND ffi H economical, easy to handle, jgj H AN ideal household fuel, Bj from a56 Melbourne children ol B to 14 years of age, Professor Fitt showed that the human body gained weight mainly in the autumn and winter corresponding to the gain of weight of hibernating animals. Weight, however, was essentially a spring growth, memory was at its most efficient point in the early winter, mental speed and accuracy rose during the autumn and winter and had a tendency to wandering after July. Suicides, according to the graphs, rose in tho months oi July and August at a time when the human ' organism was at a low ebb owing to the consumption of tho nutritives stored up for the winter. Death graphs showed Australian anti N.Z. Cable Association. LONDON, -Tuly 22. The following is tho Bank of England return for tho week ended July 21st: Issue Department. £ Notes issued 170,201,000 Other securities 8 735 000 Gold, coin, and bullion 150,451,000 Banking Department. Kest 3,477,000 Public, deposits 7,612,000 Other deposits 114,972,000 Seven-day and other bills 5 000 Government securities 40,540,000 Other securities 69 94 9 000 28,854’,000 deaths increased in tho months of July and August. These were months when Proportion of reserve to lia- ' * the human organism was least stable and marked the point when life ended and now lives began. PRACTICAL TEST Putting his theory to practical test Professor Fitt said lie had studied tho activities of Australian and English Yost cricket teams over a number of years and been struck by tendencies peculiarly resembling the cycle changes of his seasonal theory. Visiting teams ttlwayn tended Ip lose. When an Australian team went to England for summer play the members were not maintaining the same rhythm of activity as wore Londoners and could not adapt themselves to tho new conditions for at least a year, while Englishmen were playing at the best time of tho year physically and mentally speaking. THE ONLY REMEDY Australians found themselves victims to a crisis of the Australian winter and spring cycle when the human organism was at a low ebb. This would explain tho poor results achieved by tin, Australian tennis teams and by the unsatisfactory form being displayed by Rose in England. The fact Mas Rose was fighting bis organism and the latter was trying hopelessly to adapt itself immediately to climatic change. No amount of explanations and excuses could account for it other than that and there was only one jrrnedv whether for tennis, cricket, or Short loans a « £ Rate of discount for 3 ALL TEETH NEED 1 KOLYNOS 1 DENTAL CREAM LONDON STOCK EXCHANGE CONSOLS AND COLONIAL STOCKS. „ ,, . LONDON, July 22. 1-oIlowing nre the current quotations For Consols and for British and Dominion government stocks, compared with tho quotations of July 15tli : — July July 22nd. 15lh. Consols 55s qs, British War Loans, Si p.c. ... 88* 982 British War Loans, 5 p.c. ... 101J fill Conversion Loun, 3! p.c 7(> l-1fi 76 Commonwealth, 3! p.c., 1922-27 1001 1001 Commonwealth, 6 p.c., 1931-41 I04.J 103i victoria, 3 p.c., 1920-49 714 7H Victoria, 34 p.c., 1929-4!) 77| 77] Victoria, 5.4 p.c., 1930-40 102* llllj Victoria, 4} p.c., 1910-60 96! 96i Victoria, 5 p.c., 1932-42 1094 100 N.S.W., 4 p.c., 1933 913 9H N.S.W., 3 p.c., 1935 82! 82i N.S.W., 3! p.c., 1930-50 73! 73JN.S.W., 52 p.c., 1922-32 106} 10(14 N.S.W., r>! P.c., 1930-40 1031 103 N.S.W.. 6 p.c.. 1930JO 102] 102-; Queensland, 3$ p.c*. 1930 92 92J Queensland, 3 p.c., 1.922-47 ... 68 67‘] Queensland, 6 p.c., 1.930-40 101} 10f|i New Zealand, 4 p.c., 3929 97 97 New Zealand, 91 p.c., 1940 85J 84% New Zealand, 3 p.c,, 1945 76f 75£ Now Zealand, 6 p.c., 1936-51 ... 106* 3061 South Atist.. 31 p.c., 1930 after 82 821 South Aust., 3 p.c., 3916 or SAILORS AND CHIP POTATOES Fleet Orders recently issued tell how Bailors should and should not try chip potatoes. A lire occurred recently in the oil-fired galley of a fleet establishment, due to frying oil boiling over the top of the frier, running down the fire-box, and being ignited by the fuel burner. This, it is declared, was due to too much oil in tho frier, and too great a quantity of potatoes being placed in tho frier. Particular care, states the Fleet Orfb‘i\ should ho taken that only tho minimum quantity of frying oil is ii.-od. Tho frier should not be filled to rnoro than one-third of its capacity, end the food to he frier}, especially articles that havo been soaked in water • —for example, chipped potatoes— should he added in small quantities only. London’* f.oid flavor receives an allowance of .£10.875 for Iiis year of office, well as the of the Mansion House • y an official reMcIenre. In spite of holders t f this high office are stated t<j have expended as much as AOOJJOO out (U their own pockety. athletic purjxxsos. That was for the visiting team to go to England a year earlier than intended and acclimatise itself to tho seasonal change. If that is not practical the matches should he played between the seasonal extremes in the months that might be termed neutrtd. sav autumn, * South Aust., 3 p.c., 1930-10 ... 1031 103.1 Tasmania, p.c., 1920-40 83§ 8-H Tasmania 3 p.c., 1920-40 78i- 7R$ Tasmania, p.c., 1930-40 103J 1031 West Aust., 3,j p.c., 1920-35 ... 87 803 West, Aust., 3 p.c., 1915-53 ... 84 833 West Aust., 6 p.c., 1930-40 ... 10If 101, Ec asA O. jtehSft-fore.