COMMERCE AND FINANCE

Otago Daily Times, Issue 21668, 11 June 1932, Page 9

COMMERCE AND FINANCE

THE SHARE MARKET "DUNEDIN STOCK EXCHANGE BUSINESS OF THE WEEK. The following is a list of the recorded on the Dunedin Stock Exchange during the past week: — Bank of New Zealand, 435; National, Insurance, Us 2d; South British Insur•nee, 50s 6d; U.S.S. (pref.), 19a 3d (two); Milburn Lime, 24b 6d, 24s 3d; New Zee* land Paper Mills, 18s 6d (two); Wilson’s Cement, 275; Mount Lyell, l6s : 9d; Okurito, 9a 3d (two); Golden Progress, Is lid; King Solomon, Is 2£d; Gillespie Beach, id prem. (two). There was a sale of Bank of New Zealands on the Dunedin Stock Exchange early in the week at 435, but the demand has been inclined to ease since-, and the best offer at the close of the market was 425, sellers then demanding 42s 9d. Offers of up to £6 16s for Union Banks have found sellers reticent. National Insurances were dealt in at Us 2d, and there has since been a steadydemand at around 11s with sellers asking 11s 3d. A parcel of South British Insurances changed hands at 50s 6d. The offer for these has continued at 50s with no seller forward. Two sales of Union Steams have taken place, the price in each case being 19s 3d. The close of the market found buyers offering 19s for the shares, but sellers ■were unwilling to do further business at less than 20s. \ Westport Coals, which are now 10s ■hares, have been on offer at 10s, but no buyer has come forward. Around Us 3d has been the offer for paid-mp New Zealand Refrigeratings, idlers asking about 6d more. The contributing shares are now being inquired for at 3a lOd with a seller in the market at 4s 3d. Australian Glasses continue to have an insupplied buyer at 355. The latest offer for British Tobaccos is 87s lOd, sellers asking 28s 6d. Milburn Limes were dealt in at 24s 6d and 24s 3d. They have since been on offer at the latter figure without finding a buyer. „ , , Offers of up to 25s 3d for Christchurch. Gas shares have failed to attract a seller. Two gales of New Zealand Paper Mills have been recorded at 18a 6d. The demand has improved slightly and, at the close of the market there was a buyer at 18s 9d and a seller at 19s 3d. . Wilson’s Cements have been dealt in at 275, bot there has been no further demand for the shares. ' Business took place in Mount Lyell# at 18s 9d, further offers of 16s 4d failing to attract a better-seller than 16s lid. Okaritos had business at 9s 3d at which price a sale took place early in the week. The demand eased off, but improved again towards the end of the period and another parcel was turned over at' the same figure. The market closed with a buyer at 9s 2d and a seller at 9s 7d. There has faqen more interest than usual in Golden Progress shares. A parcel changed hands several days ago at is Ud, but the demand has since been increased to 2s Id. Sellers are asking 2s 3d. There has been a slight improvement in the market for King Solomons, which have had business at Is 2JB. The closing offer of Is 2d found sellers firm at Is 4d. Gillespie’s Beach shares have been ■teadily in demand and two sales were recorded at jd premium. An offer of par ■t the close of the market found sellers demanding Id premium. Though there has been an improved demand for Government Loans, sellers have failed to come forward and no business has resulted. Sale reported: Okanto, 9s 3d. The following are yesterday afternoon s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank of Australasia —Buy £9. Bank of New Zealand—Buy 425, sel 42s 9d Commercial Bank—Buy 13s 4d, sel 13s fid. i „ 8.5.. and A. Bank— Buy 755. National Bank of New Zealand Buy Ms, se] 625. , . . National Bank of Australia (cont.)— Buy £4 17s 6d. f Union Bank—Buy £6 16a. INSURANCE. National Insurance Co. —Buy 11s, sel New* Zealand Insurance Co. —Buy 355. South British Insurance Go.—Buy 50s. / Standard Insurance Co. —Buy 38». SHIPPING, Huddart, Parker (pref.)—Buy 17a 9d, ocl 19s ' v P. and 0., Deferred Stock—Buy 12a 9d. U.S.S. Co. (pref.) —Buy 19s, sel 20s. COAL.— Westport Coal (10s shares)—Sel 10s. LOAN AND AGENCY. \ Goldsbrough, Mort —Buy 21s 3d, sel 225. National Mortgage ("B” issue)— Buy ITs. Perpetual Trustees' —Sel 60s. Trustees Executors and Agency —Sel 60s. Wright, Stephenson (ord.)~ Buy 10s Stephenson (pref.)—Sel 14g Bd. MEAT PRESERVING. New Zealand Refrigerating (pd.)— Buy 11a 3d, sel Us 9d. . New Zealand Refrigerating (cont.) Buy 3s lOd, sel 4s 3d. South Otago Freezing—Buy 40s. MISCELLANEOUS. Australian Glass—Buy 355. British Tobacco —Buy 27s lOd, sel 28s fd Crystal Ice Co.—Buy 21s. D.I.C. (ord.)~ Sel 12s 2d. x D.I.C. (pref.)—Sel 20s 2d. Dominion Rubber —Sel 6s Kaiopoi Woollen (ord.)— Buy ss, sel fe Kaiapoi Woollen (pref.)—Buy Bs. Milburn Lime and Cement —Sel 24s 6d. M'Leod Bros. —Buy £22. New Zealand Drug Co—Buy 465. New Zealand Paper, Mills (ord.) Buy I*B 9d, sel 19s 3d Smith and (pref.)—Sel 16s Gd. GAS. \ Christchurch —Buy 25s 3d. BREWERIES. New Zealand Breweries, Ltd.—Buy 245. New Zealand Breweries Debent.—Huy Brewery—Buy 25s 9d, sel 275. Carlton Brewery—Buy 265. MINING. Waihi— Buy 14s, sel 15s. Waihi Gfand Junction—Buy 2s 9d. Electrolytic Zinc (P r <;V n Uy in ß %3 Electrolytic Zinc (ord.)— Buy 10s 3d. Mount Lyell—Buy 16s 4d, |el 16s lid. Mahakipawa—Buy 4d, ael 5Jd. KHdare —Sel Is Bd. Okarito —Buy 9s 2d, sel 9s 7(1. Paddy’s Point—Buy 4s. , . „ , Golden Progress —Buy 2g Id, sel 2s 3d. King Solomon— Buy Is 2d, sel la 4d. Golden Point—Buy sd, sel 7d. Golden Dawn —Buy 5s 3d. Gillespies—Buy par, sel Id prem. Waitahu—Buy 9d dis. ! Alexander (cont.) —Buy 17s, sel 215., Alexander (pd.)—Buy 20s. Consol Goldfields —Sel 3s Bd. OIL. Moturoa Oil —Buy 3s, sel 4s 3d. GOVERNMENT LOANS. 44 per cent. Bonds, 1938—Buy £92 ss. 4* per cent. Bonds, 1939—8uy £92 ss. 44 per cent.! Inscribed, 1938 —Buy £92 * 8 44 per cent. Inscribed, 1939—8uy £O2 per cent. Soldiers’ Bonds, 1933—8uy ,l 64,ner cent. Soldiers’ Inscribed, 1933 54 per cent. Bonds (leb., 1937 Buy < ( )9 5s 54 per cent. Inscribed (Feb., 1937) I per cent. Bonds (Sept., 1937) —Buy £9 54 5 per cent. Inscribed (Sept., 1937) Buy £99

LOCAL AND OVERSEAS MARKETS.

NORTHERN EXCHANGES (Per United Press Association.) The following business was done on ’Changes yesterday:— Auckland.—Sales: Bonds (1937) 5J per cent. (September), £99 10a; Stock (1938) 44 per cent., £92 10s; Stock (1933) 54 per cent., £9B 10s (two parcels); Auckland Fire Board (1939) 6 per cent, £IOO 10s; Commercial Bank, 13s 6d; Bank of New South Wales, £25 ss; National Insurance, Us; Auckland Gas, 20s 7d; Farmers’ Trading, 3s 4Jd; Alexander Mines (13» 6d .paid), 18s 3d; Golden Dawn, 6s 9d, 6b: Waihi, 14s 6d. , . „ Wellington.—Sales reported: New Zealand Government 5\ per cent. Stock (1933), £9B 15s (late sale Thursday), £9B 12s 6d, £9B 10s; New Zealand Government 54 per cent. Stock (September, 1937). £99 10s (two sales); Bank of New Zealand. £2 2 8 8d (cum div.); Union Bank of Australia, £6 16s; New Zealand Guarantee Corporation (ord.), 4s Id; New Zealand Breweries (cum div,), £1 4s 5d (two sales); British Tobacco Co. (ord.), £1 8s (cum div.); New Zealand Drug Co., £2 6s 9d. „ ■ „ , Christchurch. —Sales: Commercial Bank of Australia, 13 a 6cl;i Bank of New South Walei, £25 ss; Bank of New Zealand (cum div.), 42s 6dj Tooths Brewery, 26s 3d; Christchurch Gas, 25s 6d; New Zealand Breweries (cum div.), 24s 5d (two parcels), 24s sd; Alexander Mines (cont.), 18s 3d; King Solomon, ,l fl 24d; Mahakipawa, 4d; Okarito, 9a 4d, 9s 44d (two parcels); Waihi, 14s 6d, 14s 7d, Sales reported: New Zealand Government 54 per cent. Inscribed (1937), £96 10s; Bank of New Zealand (cum div.), 42s 9d; New Zealand Insurance. 36s 104 d; Goldsbrough. Mort, 21s 6d; New Zealand Breweries 24,3 5d (three parcels; cum div.); Britisn Tobacco (cum div.), 28s 3d, 28s 2d (three parcels), 28s Id. WHEAT, aOUR, ETC. .(United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 9. Wheat cargoes: Demand inactive, down 6d. Parcels are poorly supported at 3d to 6d lower. Futures; London— June 22s OmSeptembcr ?2s 44d, December 22s 7jd; Liverpool—July 4a 9Jd, October 4s Hid, December ss. The spot trade is quiet. Australian, ex ship, 28s to 28s 3d. Flohr is quiet. Australian, ex store, 20s to 20s 6d. Oats are slow. Australian Algerian, 17s to 18s; A GartonS, 23s to 24e. Peas have improved in demand. Blue Tasmanian, 380 s to 400 s; New Zealand, 260 s to 2705. Maples: Tasmania, 70s to 72s 6d; New Zealand, 68a 6d to 69e 6d. New Zealand beans, 29s to 30s 6d. PRICE OF FINE GOLD • (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 9. Fine gold is quoted at £5 12s 8d per ounce. / LONDON STOCK EXCHANGE (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. June 9. The following ere , the latest quotations for Qorsecurities compared wStb the prices -ruling last week:— , . Last week. This week.

DUNEDIN MARKETS WHEAT, OATS, ETC. The milling wheat market has reached a stage where there is practically no offerings. An occasional small lot of milling quality, however, comes to hand, and is readily taken up by millers at the fixed prices for June —namely, on a basis of 4s 9d, f.0.b., for Tuscan, 4s lid for Hunters, and 5s Id for Velvet. From these prices has to be deducted certain charges and Id per bushel for the equalisation fund. The fowlwheat market is firm. Distributors have fair stocks, and these are moving off slowly. There is not, however, the same quantity of fowl wheat selling around the town as in previous years. The value of best fowl wheat is 4a 6d per bushel, sacks extra, ex truck, Dunedin. A fair quantity of wheat has already been sown for next season’s harvest, as farmers have been taking advantage of the favourable weather conditions to their wheat in early. Indications point to a larger sowing down than in previous years. Millers’ prices for flour, etc., are as follow: — Flour: 2001 b, £l4 2s; 100’s, £ls ,2s; 50’s, £ls 7s; 25’s, £ls IJa, Bran, £5 per ton. Pollard, £7 per ton. Oatmeal: 2001 b, £23; 2o’s, £25. The oat market continues quiet with no alteration in values. An occasional order is being received for shipment, but there is not a demand for any great quantity. A Gartons are worth 3s Bd, f.0.b., s.i., and B’s 3s 4cl. Under-grade ia worth 3s 2d to 3s 3d. Under-grade, however, is not being sought for to any extent, the orders received being chiefly for grade lines. Millers are buying occasional lots, but the demand from Canterbury has dwindled away in the meantime. Not much business is passing in chaff, and there is no alteration in prices. For truck loads the value is £4 10s per ton, sacks extra, ex truck. Smaller lots from the stores are selling at higher values. The demand is only for good quality chaff, other quality being neglected. The potato market has firmed during the week, following on the inclination of Canterbury growers to hold their supplies. The result has been that some merchants who have had to purchase potatoes to meet orders have had to pay higher prices. This has reflected on the local market, and to-day’s value for good quality tubers is from £5 5s to £5 10s per ton, sacks extra. The market has fot into a peculiar position this year, ’he dry conditions in the north caused lower yields than usual, but to a certain extent this shortage has been met by the excellent crops dug in Otago and Southland, where up to 16 tons per acre has been obtained in many cases. As a consequence there have lately been more potatoes sold from this port to the north than has been the case for a number of years. It is some time since potatoes have been shipped from the Bluff, but the Waipiata took some 2400 bags from that port to the north. The ■ seed markets are lifeless, with practically no business going through. This position applies to both the wholesale and retail markets. In the meantime merchants are marking time, waiting for the spring demand to develop. Orders from overseas are sjtdll being sought, but the response is only for small lots. Produce lines are quoted wholesale as follow: Chaff: Good quality, to £5 per ton, ex store; on truck, £4 10s per ton. Potatoes, £5 5s to £6 10s per ton, ex store. . „ Dairy butter: Milled bulk, 94d per lb; separator, to 104 d. \ Bacon, 9Jd per lb. Ham: Ordinary, lOd; boneless, lid per lb. Onions: Canterbury, to 18s per cwt, according to quality. Eggs, 2s per dozen; pqllete’, Is 8d; preserved Is 4d. Bacon and hams have been reduced by id per lb. . , . The onion market is very firm. - FRUIT REPORT! Supplies of apples eased off during the week. The demand, however, is still poor, and the prices realised in the marts must be considered disappointing to growers, considering the fine quality ot the apples. The best demand is for wellcoloured Delicious. Poor quality dessert and cookers are in over-supply, ana sales are hard to effect. Pears are in shorter supply, and there is a better demand for all dessert lines. The banana market is short of supplies. The Maui Pomare is expected r.t Lyttelton about the middle of next week with a shipment of Samoan bananas. The consignment for Dunedin will be about 1400 cases, a smaller quantity than was allotted to the local market from the previous shipment. The price has been fixed at 14s 6d per case, 2s below the fixed price for the last consignment. Citrus fruits are in better supply. -Ine Waikouaiti, which arrived yesterday trom Sydney, brought mandarins, , oranges, lemons, and a few lots of pineapples. The fruit opened up in good order. the Waikouaiti also brought a small quantity of pie melons. This is the last shipment of the season. The Wainui is expected on Tuesday from Melbourne. She will bring a supply of Victorian navels and a small quantity of lemons. Prices for these lines are firmer in Australia. . Odd lines of outeide'-grown tomatoes 'are still coming forward from Central Otago and Christchurch. The quality is not of the best, and prices are low. Hot-house-grown tomatoes have had a better demand, but only small lots are now availabThere is a better demand for choicehearted lettuce. , , . « Cauliflowers were in short supply early in the week and high prices were ruling. Heavier supplies were available towards the end of the week, and the maiket are in heavy supply and prices are low. . , Other vegetables are in good supply, and prices are low. Wholesale prices are as follow: Apples: Stumers, 4s to 6s per case; Delicious, 4s 6d to 6s 6d; Jonathans, 4s to ss; poor quality, all varieties, 2s 6d to 3s; cookers, 2s 6d to 4s. Bananas: Ripe, to 18s per case. Pears: Dessrt, 4s 6d to 6s per bushel case; cookers, 3s to 4s per bushel. Oranges: Australian navels, 12s 6d to 16s per case. ' Mandarins, 11s to 14s per case. Lemons: New Zealand-grown, 10s to 14s per case; Australian, 15s to 18s. Tomatoes: Hothouse, 6d to Is; outside grown, Id to 3d. New Zealand pie melons, 8s per cwt; Australian, 12s per civt. Pine apples, up to 20s per case. Cabbages, Is to 2s per sack. Cauliflowers. 2g 6d to 5s per sack. Artichokes, Id per lb. Celery, 8d per bundle of four heads. Lettuce: Choice, 2s Od per dozen. Carrots, 2s per sugar bag. Parsnips, 25 % 6d per sugar bag. Kumeras, lid per lb. Potatoes, 0s to 7s per cwt. MELBOURNE MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) MELBOURNE, June 10. Wheat, 3s Id to 3s 2d. Flour, £7 12« 6d. Bran, £4 10s. Pollard, 15 ss. Oats, 2s to 2s Id. Barley, unchanged. Maize, 4s to 4e Id. Onions: Firm, £lB to £l9. P. AND O; SHARES (United Presa Association.) (By Electric Telegraph—Copyright.) LONDON, June 9. P, and O. shares, 12a 3d. BEET SUGAR (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 9. Beet sugar: July, 4s lid. BRADFORD MARKET (United Press Association.) (By E'entrio Telegraph—Copyright.) LONDON, June 9. There is not much business at Bradford. Quotations: Seventies, 23d; sixtyfours, 204 d; sixties, 20d; fifty-sixes, 16d; fifties, lOd; forty-sixes, 9d; forties. Bid.

BANK OF ENGLAND RETURN (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 9. The following is the Bank of England return: — ISSUE DEPARTMENT. Note issue iif circulation .. £357,238,159 Banking department, .. .. 49,482,579 £406,720,738 Government debt .. .. .. £11,015,100 Other Government securities 197,083,583 Other securities 63,087,773 Silver coin 3,813,544 Gold coin and bullion .. .. 131,720,738 £406,720,738 BANKING DEPARTMENT. Proprietors’ capital .. .. £14,553,000 Rest 3,205,986 Public deposits 25,577.108 Other deposits (bankers) .. 85,846,068 Other accounts .. .. .. .. 33,472,232 Seven day and other bills ~ 1,813 182,710,207 Government securities .. .. £74,259,656 Discounts and advances .. .. 12,611,580 Other securities 25,621,625 Notes in reserve .. 49,482,579 Gold and silver coin 740,767 £162,716,207 The proportion of reserves to liabilities is 34.60 per cent. Short loans are quoted at ij per cent; three months’ bills at 1 1-16 per cent, KING SOLOMON DEEP LEAD ——— # (Per United Press Association.) INVERCARGILL, June 10. The King Solomon Deep Lead wash-up for the week was 450 z Idwt. — j • the improved Efficiency they had been able to introduce. The interests of the company were world-wide, and therefore a general recovery of prosperity was needed. The war debt problem was still unsettled, and theie was still a huge network of international commercial debts, unadjusted to present low prices of goods. No one could see how the antagonism between the burden of the interest on these debts and the prices of the products out of which the interest must come was to be removed. Until some broad lines of solution could be agfeed upon it was to be feared that restrictions on international trade would continue, by way of special tariff duties, import quotas, or exchange restrictions. IMPERIAL CHEMICAL INDUSTRIES At the annual meeting of Imperial Chemical Industries, Ltd., which declared a profit of £4,668,685 for 1931, the chairman (Sir Harry M'Gowan) mentioned that £69,264,978 was invested in eight main manufacturing groups and in the subsidiary companies of Australia and New Zealand and in foreign selling companies. He said that the company was compelled to adopt every new process, every fresh device, every improved method which the advance of knowledge dictated. A great part of the success of British industries rested upon high technical efficiency, and that in turn was drawn from the insight, ingenuity, and resource of scientific staffs. The fruits of a policy of rationalised production and research were to be found in the new products of the company. It was manufacturing some 50 dyestuffs not previously made in Great Britain. Successful experiments were being carried out in the production ot other products, such as celluloid, paints, explosives, and many chemicals. _ Sir Harry M'Gowan said that industry in Britain early in 1932 was more active, which was a hopeful augury for the year. Economies made in the organisation formed another encouraging factor. The directors were determined, however much trade might develop, not to lose a single advantage gained by economy, not to be lured into any expenditure which could be avoided, not to forgo a single item of DAIRY PRODUCE The National Mortgage and Agency Company has received the following cablegram from its principals in London; — Butter. —The market is very slow. New Zealand finest, 955; New Zealand first grade, 945; New Zealand Unsalted, 98s, 102 s; Danish, 975, 98s; Australian, 935, 955. Cheese. —The market is slow. New Zealand white and coloured, 645, 555; Canadian cheese, 51s, c.i.f. Messrs A. t S. Paterson and Co. have received the' following cablegram from their London principals, dated 9th inst.: Butter. —Continental market collapsed. Danish total shipments 3532 tons, of which 3250 went to England. Danish, 80s, 82s. f.0.b.; Latvian, Esthoniau, and Lithuanian, 88s, 925, landed terms; New Zealand, 965; Australian, 955. Cheese. —The market is easier, in line with Canada. New Zealand white cheese, 545; coloured, 545, ;555; Canafdian, 50s, 525, c.i.f. Bacon.—4|d, 6d per lb; interfering with sale of cheese. Messrs Dalgety and Co., Ltd., have received the following cablegram from London, dated June 9: — Butter Market. —Low market of Danish has .depressed the market for colonial. The cheese market is slow. Quotations; Danish butter, 82s to 83s; New Zealand finest butter, 94s tp 965; Australian finest unsalted butter," 94s to 965; Australian finest salted butter, 94s to 965; - Australian G.A.Q. butter, 90s to 925. Australian Cheese. —White, not quoted; coloured, not quoted; New Zealand cheese —white, 54s to 555; coloured, 54g to 555; Canadian cheese —white, 66s to 725; colouredr66s to 70s; c.i.f., 52s to 535. Danish butter price f.o.b. ' BUTTER AND CHEESE (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 9. Butter is slow. Danish, 100 s. Choicest salted New Zealand, 95s to 965;-' Australian, 94s to 955. Unsalted New Zealand, 97s to 100 s; Australian, 95s to 975. Cheese is dull. New Zealand white and coloured, Sis to 555. Australian is temporarily cleared. FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY. June 0.

JAMES PASCALL. LTD. James Pascal!, Ltd., one of the three leading British manufacturers of confectionery and chocolate, exhibits in its accounts, now available, for the year to December 24, 1931, a loss amounting to £22,212. For the previous year the company made a loss of £53,144, and the debit balance is £70,1(54. The auditors state that they consider the investment reserve of £15,000 inadequate, and that further provision of a substantial character is necessary in respect of losses in connection with the subsidiary companies. The board says it thinks that the question can best be dealt with by a reduction and rearrangement of capital when the company has returned to a profit-earning position.

. BALCLUTHA STOCK SALE (From Our Own Correspondent.) BALCLUTHA, June 10. There was a yarding to-day of about 800 fat sheep and 3000 stores. Prices were lower than at the previous sale, and vendors generally were disappointed. Butchers’ ewes sold at from 7s to 10a 9d for extra heavy; freezing ewes, 4s 3d to ss; fat lambs, 10s to 12s 3d for best; medium lambs, 10s 3d to 12s 3d. Store Sheep.—Wethers, Is 3d to 7s 3d; failing-mouth ewes, 5s 3d; good forward lambs, 5s lid to 7s 7d; small lambs, Is 3d to 3s 6d. Cattle. —Eighteen-month-old Hereford heifers, 32s to £2 Is; Shorthorn cross yearlings, 38s; empty cows, £3; dairy cows, £5 to £5 4s. Pigs.—A fair yarding of suckers, which sold under good competition at 7s to 15s; well-grown slips, 245. LONDON METAL MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 8. deceived June 10, at 9 p.m.) The following are the ofllclal Quotations In the metal market.—

SUrcr, standard .. .. 1C 16-10 d Fall l-16d Silver, line 18*id Fall 1-I«d / MAHAKIPAWA WASH-UP (Per United Press Association.) CHRISTCHURCH, June 10. The Mahakipawa washup for the week was S2oz of alluvial gold. AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, June 10. (Received June 10, at 10 p.m.) Tile election eve had the effect of arresting the upward trend of Commonwealth Bonds on the Stock Exchange today, but there was a good tone, except for silver and lead" stocks, which were lower in sympathy with the drop in metals. The following sales were made:—Bank of New South Wales, £29 ss; Commercial Bank of Sydney. £l6 17s 6d; Colonial Sugar, £46 ss; Millaquin Sugar, 265; Howard, Smith. 8s Id; Tooheys, 19$ 6d; Tooths, 30s; 1 ' Dunlop Perdriau, 12g 7d; Goldsbroughs, 24s 6d; Henry Jones, 30s; Berlei, Ltd., 21s 6d; British Tobacco, 325; ditto., Melbourne register, 32 g lsd; North Broken Hill, 595; Bonds—Four per cent., 1938, £95 15s; 1941, £92 13s 9d; 1944, £9l 7a 6d; 1947, £9l ss; 1950, £9l 7s 6d; 1953, £9l 10s; 1955, £92; 1957, £9l 2s fid. The following sales were made in Melbourne:—Commercial Bank of Australia, 14s lid; National Bank (£5 paid), £5 12s 0; Goldsbroughs, 24s 2d; Australian Glass, 40s 6d; British Tobacco, 31g 10Jd; Electrolytic Zinc (pref.), 21s 6d; Melbourne Steam, 18s 4d; South Broken Hill, 39a IJd; North Broken Hill, 58s 6d; Mount Lyell, 18s 6d. CANTERBURY MARKETS (Per United Press Association.) CHRISTCHURCH, June 10. , The potato market has further improved in price, the mid-week advance being equivalent to 10s a ton. Since Tuesday until this evening there was a steadying tendency, the northern inquiry easing to some extent. Prompt deliveries have been sold at £6 5s and occasionally £6 7s 6d, f.0.b., s.i., the former price being a quotation this evening. Junes have sold at £6 10s and Julys at £7 ss, though at the moment potatoes for this month are at £7, with a slackening in buying. July-September deliveries firmed only slightly to £7 10s. The price to farmers this evening is £5 5s on trucks at medium stations, though it is understood that this figure has been exceeded. The Waimarino, which left early in the week, took 2000 sacks from Timaru and Lyttelton, The WingatuS is due to sail next Thursday, but present appearances point to her cargo being small. The real shortage of potatoes is the basic cause of the sudden rise. Both merchants and farmers are satisfied that the . previous reports of poor crops are confirmed. Farmers are not keen to accept the enhanced prices. There has been a remarkable leap in the price of onions. The price has been advancing almost at the rate of £1 a day this week, and sales have taken place at £l9 a ton. f.0.b., s.i., with reported sales at £2O. The few lucky growers holding, onions have received £l7 and £lB a ton. Milling wheat is very scarce and the reported admission of a limited quantity of Australian milling in view of a probable shortage is not viewed with disfavour. So far this has not had any effect on fowl wheat values. Oats are weaker in the south, being quoted at 3s 7d for A Cartons. All other sections of the trade are quiet.

£ s. A. £ i. a. Imperial Cornels. 214 P.c. .. 03 10 0 03 10 0 War Loan. B P-c., 1023-47 ., 101 10 0 102 0 0 Conversion Loss. 314 p.c. .. 88 10 0 83 0 0 Victory, 4 p.c. 100 10 0 101 5 0 C'wealtb, 8 p.c., 1981-41 .. 07 IS 0 98 3 6 C’wealtb. 514 p.o.. 1022-27 ,, 00 15 0 91 0 0 N.Z.. 6 P.c,. 1030-BJ .. .. 102 5 OjS 103 5 0 N.Z.. 4 p.c,, 1920 .. .. .. SS 17 6 87 2 0 N.Z., 3H P.c,, 1040 .. 70 2 G '70 2 6 N.Z.. 3: p.c.. 1945 .. ,. 0 70 10 0 N.S.W., 014 P.o.. 1030-40 .. 97 6 0 08 5 0 N.8.W,, 6 p.c., 1930-40 .. .. 04 0 0 05 0 0 N.8.W.. 6%, P.o.. 1922-32 89 0 0 90 15 0 N.S.W., 4 P.c., 1933 ,. .. 88 10 0 00 10 0 N.SW.. 3M P.C.. 1930-50 .. 77 7 G 78 12 0 N.8.W.. S p.a. 1035 .. .. 50 10 0 61 17 6 Vlo., 814 P.a. 1930-40 .. .. 85 17 6 85 10 0 Tic.. 8 p.c,. 1982-42 70 0 0 SO 15 0 Tic., 4% p.a. 1940-80 ., .. 90 0 0 01 0 ft Via. 8% p.a. 1029-49 ., „ 64 15 0 64 15 0 Vlo.. 3 P.O.. 1029-40 .. .. 61 2 6 61 0 0 Q’land. 8 p.o., 1930-40 .. .. 92 17 6 93 12 6 Q’land 8 p.c., 1940-60 ,. 84 15 0 85 15 0 Q’land, 3 , p.a. 1922-47 .. .. 01 5 0 61 15 0 S.A., 614 P.a. 1930-40 .. 90 15 0 97 12 6 s!a.. 3M P.C.. 1939 .. .. 73 10 0 75 0 0 8.A. 8 p.a. 1918 or after 50 10 0 50 0 0 W.A., 6 p.a. 1930-40 .. .. 02 10 0 02 10 0 W.A.. 314 P.a. 1920-35 .. .. 80 0 0 85 0 0 W.A.. 314 p.e., 1015-35 .. .. 77 7 0 78 15 0 Tas.. 614 P.a, 1030-40 ,. .. 99 10 0 08 12 6 Tas.. SH p.c.. 1020-40' .. 73 10 0 73 0 0 Tas.. 3 p.a. 1020-40 .. .. GO 5 0 60 10 0

Parle, fr to £1 Par. 124.21 June 8. 03 3-10 .Tune 0. 0314 Brussels, belgas to £1 35 20.3214 20.35 Oslo, kr to £1 18.150 20.05 20.1C Stockholm, far to £1 18.150 10.30 10 17-32 Copenhagen, kr to £1 18.150 18 9-32 18.30 Berlin, marks to £X 24.43 15.4714 15.4714 Montreal, dol to £1 4,80 2 3 4.2814 4.20 New York, dol to £1 4.80 2-3 3.07% 3.0704 Yokohama, pence to yen 34.58 21% 20% Hongkong, pence to dol 25,15 16% 15% Bombay, pence to rupee IS 17 31-32 17 15-10 Batavia, florins to £1 12.107 — 0.18 Milan, lire to £1 .. 02.45 71% 71% Amsterdam, guilder to £1 12.107 0.07 r.07% Prague, kr to £1 .. 24.02 123% 124 Geneva, kr to £1 .. 25.2214 18.7714 18.80 Vienna, schillings to £1 24.2514 35% 30% Helsingfors, marks to £1 103.334 215 215 Madrid, pesetas to £1 25.5514 44% 44 0-10 Athens, drachms to £1 25.2214 505 570 Lisbon, escudos to £1 5.6014 100 110 Bucharest. lei to £1 037 0X5 015 Kio de Janeiro, pence mllrels to IS 5 6 Buenos Aires, pence pesos .. .. .. to 47.82 — — Shanghai, pence to tael 2304 2014 Montevideo, pence to peso 51 30 30 Warsaw, zlotys to £1 43.38 ~ 32.75

Copper, spot .. .. Ton. £20 8 Fall £0 7 0 Copper, forward .. 28 8 3 Fall 0 10 0 Electrolytic, spot .. 30 0 0 Fall 0 10 0 Electrolytic, forward 31 10 0 No change Wire bars .. .. SI 10 0 No change Lead, spot .. 0 S 9 Fall 0 10 0 Lead, forward .. 9 15 0 Fall 0 6 0 Spelter, spot S .. M 11 7 6 Fall 0 7 8 Spelter, forward .. 11 T 6 Fall 0 11 « Tla spot 108 7 6 Fall 8 S 9 Tin. forward .. .. 111 17 0 Fall 6 S 8 Oz.