COMMERCE AND FINANCE

Otago Daily Times, Issue 21831, 19 December 1932, Page 5

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK 'EXCHANGE Three pai’cels of Bank of New Zealamls ehanged hands at 12 Os 6d on the Dunedin Stock Exchange on Saturday, and there ■was also a sale of Big Rivers at Is 2d. Late sales on Friday were reported in Bank of New Zealands at £2 Os 9d, and m Nokomais at 6s, and after the last call on Saturday business was reported in King Solomons at 2s 6d.

NORTHERN EXCHANGES (Peb United Pbess Association.) The following business wa fl done on on Saturday:— Auckland.—Sales: ii per cent Bonds (1938), £93 ss; Bank of New Zealand, 40s 3d; New Zealand Insurance, 41s; Golden Dawn, ss; Waihi, 18s, 10d; Gillespie’s Beach. (6d paid), 9id. Wellington.—Sale: Woolworths. (pref,), 28s 6d. AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, December 17. ('Received Dec. 17, at 5.5 p.m.) . On the Stock Exchange the following Bales were made:—Commonwealth bonds (4 per cent.)— l93B £lOl 6s 3d, 1941 £lOl 8s 9d, 1853 £lO2 10s; £lO bonds (4 per cent)— l93B £lO Is, 1941 £lO Is od, 1961 £lO 3s ,6d; Bank of New South Wales, £29 19sV British Tobacco, 32e; Broken Hill Proprietary, 25s 3d; Dunlop Perdriau, 10s :3d. ■ SOUTHLAND STOCK REPORT (From Our Own Correspondent.) j.' INVERCARGILL, December 17. The stock market continues quiet _ for til :classes, and values show very little change from our report of last week, hat cattle are offering freely, and values are inclined to ease, which’is usually the case at this period of the year. Fat sheep n' e. also plentiful, and offerings are in excess of .requirements, consequently prices are’barely as firm as a few weeks back. The store sheep market is very quiet, and *ptr( from a few lines of ewes and lambs changing hands, very little bum, ness is being done. The store cattle market is also quiet. J ’ Fat Cattle.—Prime heavy bullocks,- £7 JOs, to £8 10s; medium-weight prime do, £6 to £7; lighter, down to £4 10s; prime h-avy heifers, £5 to £6; medium, do, £3 3Os to £4 10s; prime heavy cows, £4 10s to £5 10s; lighter do, £2 to £3; vealers, KV to £1; runners, £1 10s to £2. Fat Sheep.— Prime heavy wethers, , lie to 1 As; medium do, 9e to 10s; lighter do, .7'« (id to 8s 6d; prime heavy ewes, 8s 6d to 9e 6d; lighter do, 5s to 6s 6d; prime heavy lambs, 14s 6d to 16s 6d; medium do, ils 6d to 12s 6d; lighter do, 7s 6d to Ss 6d. Store Sheep.—Shorn wether hoggets, os to 6s: ewe do, 8s 6d to 10s; young ewes and lambs, 63 to 8e; aged ewes and lambs. 3s to ss. ' B’tore Cattle. —Three and four-year ateere, £4 to £4 10s; two-year do, £2 10s to £3; yearling do, £1 to £1 10s; twoyear heifers, £2 lOg to £3 10s.

I; P. AND 0. SHARES (United Press Association'.) (By Electric Telegraph—Copyright.) v LONDON, December. 16. P. and 0. shares, 13s 9d. ' • MOUNT LYELL SHARES (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, December 16, Mount Lyell, 16s 3d. ; PRICE OF SILVER I (United Pres* Association.) (By Electric Telegraph—Copyright.) •LONDON, December 17. (Deceived Dec. 17, at 5.5 p.m.) Silver: Spot and forward, 17d.

LOCAL AND OVERSEAS MARKETS.

. FROZEN MEAT MARKET , (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. December 17. (Ilc.-ckcd Dec. IS. at 8 ii.m.) Doc. 3.‘ Dec. 10. Dec. 17. (Per lb.)

THE DAIRYING INDUSTRY PRICE OF BUTTER-FAT. LOWEST LEVEL FOR MANY YEARS. (Special to Daily Times.) AUCKLAND, December 18. For its November supply the New Zealand Co-operative Dairy Company, Ltd., is advancing 71d per lb for finest quality butter-fat for butter-making, and 9d per lb for cheese-making. The premium payable to milk powder and casein suppliers will be the same as in the p re ‘ vious month. Mr C. J. Par lane, general manager, stated that the price was the lowest paid by the company since the ’nineties, and owing to the large shipments which a>; c due to arrive in England from Australia and New Zealand during the next few months it is possible that bottom has not yet been reached. “.We fully appreciate the difficult position in which the suppliers are placed, and desire to render every pos.sible assistance, said Mr Parlane, “ but owing to the uncertainty of the forward position our directors believe that the advances should be at a level that will preclude the possibility of either reclamation or the necessity ' for reducing advances during the later months of the season to a very low figure indeed. The cheese market is m aYdightly healthier condition.” THE RABBIT MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, December 17. (Received Dec. 18, at 6.30 p.m.) Rabbits: First quality. large, cx store, 17s to 17s 6d. A HOPEFUL FEATURE (Peu United, Press association.) PALMERSTON N., December 17. Forward activity," which is regarded as a hopeful feature, is reported in the butter market in Manawatu district, it is stated that an offer of 9Jd a pound has been made for January and February "shipments. ■

TOBACCO DUTIES POSITION OF LOCAL IMPORTERS. UNFAIR TREATMENT ALLEGED. Regardin'? the notice ! advising reductions in excise duties on New Zealandgrown ‘ tobacco, and amended regulations dealing with the Empire content ot tobacco and cigarettes, it will be observed that these alterations to the tariff .were gazetted on Thursday evening, and could therefore be availed of by merchants in Wellington the first thing on hnday morning. , , „ , , On application, however, on Saturday morning at the local Custom house it was stated that no official; advice had so tar been received of the alterations. Prompt action was taken by Mr H. G. Campbell, as chairman of the . Otago Importers and Shippers’ Association, to bring the ’position before those responsible. and a communication was sent to the Minister of Customs as follow: ' “ Referring Gazette notice regarding reduction excise duties Empire content tobacco apparently no official advice yet received here. Consider this places local merchants unfair position,. Suggest immediate steps remedy.” LYTTELTON HARBOUR , BOARD REDEMPTION LOAN NOW ISSUER. A uniijue opportunity for a’ Cilt-edged . Investment,! is presented by the Lyttelton Harbour Board Redemption Loan, which has been .placed on the open market. Terms of the issue are as follows: -. (a) The Loan is for £136,000 for 10 ’years from January 1, 1933, .at ( 5| per . Cent., payable half-yearly. - NOIL: As the interest payable to t investors to NOT subject to 10 per cent., tax (as are loans issued before April 1. 1932), the interest-bearing ’ value ‘ is comparable with a rate of 5i per cent. Interest accrues on accepted application money from dale of its receipt by the Board (b) Application money'is free ot exchange, and the principal will be repaid free of exchange on J.anitary 1, 1943, in Christchurch, or at' any, branch of ■ the Bank of New Zealand in New Zealand. ’> (c) The,Security for;the.Loan is the Lyttelton Harbour Board’s undertaking and its revenues, subject to existing charges. The pubjic debt of the Lyttelton Harbour Board compares more ’ than favourably with-that of any other main pdrt of New Zealand. At • the present time it is only £289,3/5, ot which amount one loan 0f£56,800, is being paid off in annual _ instalments. Excess of assets over liabilities _is £899,914, including cash assets totalling £228.895 at September 30/ 1932. Copies of the Prospectus' are obtainable from Mr G. H. Clibborn, Secretary, Lyttelton Harbour Board, Christchurch (who will also receive • applications; for debentures) and from the Stock Exchangee or any Branch of the Bank of New Zealand .—l4/12/32.- ’

FRUIT AND PRODUCE WORLD Reilly’s report selling;—Sweet peas Is 6d, 2s'. Ranuncula 2s, 4s. Cauliflower 2s, 7s. Cabbage 3s. Lettuce 6d, Is 6d. Honey, 41b pats, ,4s.' Spinach Is , 4d. Spring onions 6d. Local cucumbers 4s, 6s. Eggs: Poultry keepers lid, others lOd. Asparagus: ’Outran! 14s, 18s; Christchurch 3s, 4s. Raspberry buckets; Canadians. 565, New Zealand 52s per dozen. Champion egg crates 15s 6d. C.M.W. Knapsack Sprayer £5. Apples: Delicious, Bs, 14s; Stunners, Bs, 12s 6d. Pines 16s, 20s. Grapefruit: Australian 16s. Lemons: New Zealand 18s, 20s. Bananas: Choice ripe Niues 23s 6d. Oranges: Valencias 10a, 15s; Commons 9s, 12s; navels 455. Grapes: Californian 32a. Plums: Cherry plums, choice Bs, bronze 6s case; inferior unsaleable. Coconuts 16s 6cL, •Strawberries: Extra choice large Is 2d, choice Is, jam 7d,. 9d pottle; wasty mouldy 3d to sd. Cherries: Choice Bd, Is; small 4d, 6d. Mushrooms Is 7)d. Bulk honey: Choice sd, discoloured 3d. Black currants 41d> (id. Red currants 4Jd, 54d. French beans Is Walnuts wanted. Green peas 2d, sweated Id. Pears: Winter Coles, Winter Nelis 4d, sd. Cheese: Mediuni‘7d. Tomatoes;' Locals lid, Is Id; Christchurch, choice, lOd, Is; seconds 7d, 9d; inferior 4d; Rarotoiigans sd; Nelson Bd. Local new potatoes Id, 1 Id; Canterbury, Id, Tea: Orapge Pekoe 2s. Gooseberries Id. 2d. Porkers and bacon pigs barb Hd. Beeswax Is. Bacon: Prime Bd, hams lid. Butter; Storekeepers 7d. Potatoes, repicked, 6s 6d. Onions; Canadians, crates or bags, 15s. Carrots- 7s. Parsnips 6s. Woodwool 28s. -Bluestone; Macclesfield 42s 6d. Oyster grit 7s cwt-. Olive oil 10s gallon. Semesan, 2oz 2s 3d, 11b 7s 6d, 11b 12s 6d, 51b 555, 251 b 2355. Granosan, 2oz 2s 3d, Alb 7s 6d. Fruit wraps 3s ream. Honey, 51b 3s, 101 b ijfi 6d. Vallo Giraffe lime sulphur, cases, ‘8 Ballons, 2s 3d;' barrels, Is 9d. Black leak “40 American, 101 b 525, 51b 30s, 11b 8s 6d, Jib 4s 6d; British, 10lb 50s, slb 27s 6d, lib 7s 6d. Wheat ss, 5s 6d; shrivelled 4s 6d. Oats; “A” Gartons 2s 9d, “B” 2s Bd, Dunns 2s. Feed barley 3s. Kibbled maize, splendid quality, 6s 6d. Ricemeal, for poultry, pigs, and cattle, 7s (id. Crushed oats 12s. Cross Keys nreatmeal 15s 6d, National 15s. Firewood blocks: Manuka 2s 6d. Palmer’s chick food, 1001 b 17s 6d, 501 b 10s 6d, 251 b 6s. Manuka tomato stakes 8s per 100. Strawberries: Pottles 60s per 1000. Bran £5. Pollard £6 10s. Straw: Wheaten £2 15s, oaten £3. Hay £4 15s. Ontsheaf chaff £4 ss, ex store £5. Oatmeal' £23. Potatoes £6. Poultry: 376 hens at 2s 4d to 7s 4d. 154 chickens at 2s 6d to ss, 70 geese at 6s 8d to 10s, 7 ducks at 6s 8d to 7s Bd, 186 chicks at 4d to Is 2d per pair, 1 gobbler at 9Ad per lb. > REILLY’S CENTRAL PRODUCE MART. LTD. Moray place, Dunedin.

LONDON MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, December 17. (Received Dec. 18, at 6.30 p.m.) Friday’s 'closing prices were;— Cotton; Spot, 5.26 d per lb; January, od per lb. Rubber: Para. 4Jd; plantation, smoked, 2 .15-32(1. Jute: Decembcr-January, £ls 2s 6d. Hemp: The market is dull. Decem-bcr-Jamiary, £l4 10s. Copra: Jamiary-February, South Sea, £l4 2s 6d; plantation Rabaul, £l4 ss. Linseed oil, £l7 10«. Turpentine, £3 2s 3d. The Bank of New Zealand has received the following advice from its London citicc, under date December 16:— Frozen Meat. —The market is firmer lor heavy-weights, while light-weights remain steady. For ewes the market is steady. The lamb market is quiet and unchanged. Wethers, light 4g<l to 4§d per lb, heavy 3gd to 43d per lb: ewes, 24d to 33d per lb; lambs, twos 6|d to 7(1, eights sJ_d to 53d, fours sid to syd, seconds 5d to s|d. CHICAGO WHEAT (United Press Association.) (By Electric Telegraph—Copyright.) NEW YORK. December 17. . (Received Dec. 18, at 0.30 p.m.) Cnicnzo wheat: December; 443 cents; May, 47; July, 47'J; New York (cash), 548. PRICE OF FINE GOLD (United Press Association,) (By Electric Telegraph—Copyright.) LONDON, December 16. Fine gold is quoted at £0 4s 9|d per ounce. • ; LONDON, December 17. (Received Dec. 18, at 6.30 p.m.) Fine gold is quoted at £6 4g 74d. MERCHANDISE MARKET Grecian currants, seeded raisins, stoned dates, almonds, and muscatels are getting into short compass in merchants’Jiands. Merchants are anxiously awaiting the arrival of the Wainui, duo to-morrow from Melbourne, with a large quantity of transhipments. These include Siar and Khadrawi dates, stoned and packet dates, Ceylon tea, Australian manufactured macaroni, Australian dried fruits, etc. The Waihemo, from Pacific ports, will land supplies of seeded and seedless raisins, prunes, etc. The vessel will not, however, reach the Dominion in time to enable local distributors to place these goods with consumers. The Wingatui landed a cargo of sugar at the end of last week.' The Waipiata will land another cargo next Friday. The Narbada, due here from the East about the middle of will land supplies of sago, tapioca, Indian lentils, pineapples, Java peanut kernels, etc.

DAIRY PRODUCE Messrs H. L. Tapley and Co., Ltd., have received the following cabled market re--0011 from London:— Butter, 82s to 83s per cwt; market im-'<re--ug ■ Cheese: White, 51s per cwt;, coloured, 33s per cwt. Market flat. ..The Sbu£h Island Dairy Association. Ltd., has received the -following market report from London:Butter. —Steady,With more inquiry; 81s to 83s; Danish, 1245. Cheese. —Quiet. White,, 49s to 50s; coloured, 535. , FIVE AND A-HALF PER CENT. GOVERNMENT STOCK With reference to 54 .per cent. New Zealand Government stock falling due on January 15, 1933; advice has been received from the secretary to the Treasury to the effect that securities to be issued in renewal of January 15. maturities are definitely not subject to, the stamp duty charge. This means that holders of securities maturing on January 15 next who desire to renew in accordance with the offer made by the Treasury will receive a full 5 per cent, in respect of interest on the new loan. FOREIGN EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, December IT. (Received Dec. 17. at 8.5 p.m.)

TRADERS’ FINANCE .REDUCTION OF CAPITAL. “ In the circumstances, the company has had a fairly good year,” said Mr J. B. Macfarlanc, chairman of directors of the Traders’ Finance Corporation, Ltd., } u moving the adoption of the report and balance sheet at the eighth annual meeting of .shareholders. “The company is in a’s good a position as last year,-and perhaps slightly better,” he said. A shareholder raised the question of the interest rate on the 7 per cent, preference shares, and Mr Macfarlaue said the rate would be reduced next year to 5| per cent. The interest paid on dep'osits had already been reduced, and there would be a further reduction to 3J per cent, next year. It was, stated by a shareholder that the ordinary shareholders appeared to be keeping the-company going for the benefit of the holders of preference shares. He suggested that the directors should consider the question of liquidating. The chairman said the company had made a heavy loss early iu its career, and was then hampered by the depression. The present position was not as bad as it might appear, as £3OOO had been written off as depreciation. If the company only held its position it would improve with the times. The report and _ balance sheet were adopted, and the retiring directors, Messrs S. J. Harbutt and H. T. Goldie, were reelected. Subsequently, a resolution to reduce the capital of the company from £268,750 to £157,500 by cancelling 15,000 of the unissued preference shares and 110,000_ of the unissued ordinary shares, was carried. The chairman said that £SO a year in registration fees would be saved in this way. ■ NEWSPAPER ADVERTISING A man who has handled nearly £10,000,000 worth of advertising since the war, Mr George S. Boyds, head of a well-known London agency, in an address to members of the Sheffield Publicity Club recently, said he had found newspaper advertising to be the most economical and effective. “ I have used advertising in all its forms,” he said. “ On trams and omnibuses, on hoardings, in , the sky, on the films, on the radio, and in newspapers and magazines. Without exception I have found the most economical and the most effective advertising medium to be the press, particularly the daily and evening

press. This in no way disparages the usefulness of other media, but it still remains a fact that advertisers can buy readers’ interest more cheaply through newspapers than by any other method. One must carefully analyse the product and its appeal before choosing the particular medium, but it is more than likely that I should commence with a prejudice in favour of newspapers. My experience firmly proves newspapers to be the moat effective.” COMPANIES REGISTERED The Mercantile Gazette records the following registrations:— Quality Bottled Milk, Ltd. Registered December 3, 1932. Capital, £SOOO, in 5000 shares of £1 each. Subscribers: Dunedin —A. Hay 125, G. Cook 75, I. A. Kiumont, R. M'Kinnon, G. E. Lousley, G. D. Driver, M. Callender one share each. Objects: To adopt and carry into effect an agreement bearing date November —, 1932, between L. W. Potter, U. Tyson, S. C. Usherwood. R. C. Usherwood, and L. G. M'Naught, to carry on the business of pasteurising and bottling milk and cream for daily delivery, dairy made cheese and butter, and general incidental. Upper Shotover Gold Mining and Hydro Electric Company. Ltd. Registered December 2, 1932. Office, Gore, Southland. Capital, £IO,OOO, in 200,000 shares of Is each. Subscribers: Gore —D. M. falconer, A. Latham, J. Howard, A. C. Gormack, A. M. Fitzgerald, G. Peterson, W. L. Dolamore 2000 shares each. Objects: Gold mining.

sales on 'Change. £ S. d. Bank of N.Z. (three sales) 2 0 6 Big River • • • 0 i 2 SALES REPORTED, Bk. of N.Z. (late sale Friday) 2 0 9 Nokomai (late sale Friday) 0 6 0 King Solomon (after call) 0 2 6 The following are Saturday’s buying ; and ■piling quotations, which are subject to the usual brokerage:— BANKING. Buyer. Seller d. £ s. d. £ 6. New Zealand .... 2 0 3 2 0 6 National of‘N.Z. .. — (r 3 8 0 Natl, of Abasia (cont.) 4 lo — INSURANCE. National ...... — 0 14 0 2 2 0 SHIPPING. P. & 0. Def. Stock — 1 0 0 TJ.S.S. Co. (pref. .. **1 0 3 — COAL. - Kaitangata P ar - - Westport ...... — 0 LOAN AND AGENCY. Trustees, Executors 2 17 0 •— MEAT PRESERVING N.Z. Refrig, (paid) 0 9 0 0 10 0 N.Z. Refrig, (cont) — 0 0 3 3 Sth. Froz.Meat (paid) 1 18 2 0 6 MISCELLANEOUS. Brown, Ewing (pref.) — 0 19 0 Bruce W’ll’n. (ord.) r0 10 0 D.I.C. (ord.) ..... 0 9 3 — D.I.C. (pref.) 0 17 6 0 19 0 Donaghyls Rope .. 1 10 0 1 Milburn Lime — 7 0 Mosgiel Woollen .. 6'14 0 0 N.Z. Drug Co. .... — 2 18 N.Z. Express (ord.) — 0 8 0 0 N.Z." Express (pref. — 0 0 19 Wilsons Cement .. 1 8 1 9 BREWERIES. 0 N.Z. Breweries • — 1 5 N.Z. Breweries 0 (debs.) ... .. 1 0 3 6 Dunedin.. ...... OIL. 0 ,4 G MINING. O' 8 Kawarau .. 0 Waihi .. .. .. .. 0 18 3 1 — Mount Lyell, -..’ > ■ • ■ / — 0 0 Molyneux Electric T*' 0 5 0 Mahakipawa .. .. 0 0 2 10 Kildare .. .. ••• .. 0 1 8 0 1. 1 0 8 2 Paddy’s Point ...... 0 5 0 0 5 6 Golden Progress.. ..0 l 4 0 1 1U King Solomon .. .V 0 2 Golaen Point .... 0 0 5 2i 0 0 z 0 D 34 Gillespie’s Beach .. fO ® 24 to 0 34 .. .. .. tO 0 0 Golden Sands .. .. — 0 2 3 2 0 1 4 Mount ■ David .... — . 0 3 9 Nokomai .. .. •• 0 6.10 0 6 3 GOVERNMENT LOANS. 44 p.c. Bonds, 1938 93 0 0 — 4,1 p.c. Bonds, 1939. 93 0 0 — 44 p.c. Ins., 1938 .. 93 v.O 0 9310 0 44 Wins., 1939‘V. 93 0 0 — 64 p.c. S.S. Bonds, 1933 .. .. 100 0 0 — 64 n.c. S.S. Ins., 1933 .. 100 0 0 — ■ Bi p.c. Bonds, 1936 98;. 0, 0 — 64 p.c. Ins., 1936.. 98 0 0 — 61 p.c. Bonds, 1933 99 0 0 : — 61 p.c. Ins., 1933... 99 0 0 — 64 p.c. Bonds* Feb., 1937 98 15 0 — 64 p.c. Bonds, Sept., 1937 . .... .. 98 1C 0 — l\ p.c. Ins., Febi, 1937 98 15 0 — 6J p.c. Ins., Sept., . 1937 .. 98 150 — f Premium; ** Ex dividend.

d. (1. d. N.Z. Sheep— Canterbury anti North Island selected crossbred wethers and maiden ewes— 48-50Ib ...... .. iVi — __ 57-0-llb .. .. .. .. 4% 4 9b 4% 05-721b .. ..' .. .. 4% 414 North Island: 4S-501I) .. .. .. .. 4 % _ 57-04lb 4% 4% 05-721b .. 4% 4% Ewes: 481b and under .. .. — — — 40-0411) — — ■ — C5-72U) — — — N.Z. Lambs— Canterbnr): 301b and under .. .. — — — 37-42lb 511 514 43-501b .. 514 514 • 514 Second quality; Average 301b .. .. .. 514 5% 5% Other South . Island Brands301b and under .. .. — — — 37-421b 5*1 — 51s 43-50U) — — Selected North Island Brands, Including iWns— 301b and under .. .. ■ — . 37-42!b .. .... — - — Second quality >, Average 301b .. ... .. su — — Other North Island Brands— First quality 301b and under . ... .. • — — — 37-4211) .. — , r— 43-50U) — . — Second quality: Average’ 301b .. .. .. 5 <4 514 5 Australian Sheep— , First quality crossbred and/or merino wethers: .40-0511) — — — Second quality: 30-5511) .. .. .. .. — — • Ewes: 30.-5511) — — — Australian Lambs— Victorian—First quality: CVi , 014 801b and under .. .. — Second quality. 514 . 514 ’301b and under . .. .. Other States— • , First quality. su 514 301b and under .. .. 514 i% 4% 4% Second quality ■'4% 301b and under 4-y* 4% 411 States— . Third quality .. .. •• , Argentina Sheep— - ; First quality crossbred wethers: ■ * • 48-0411) .. .. .. •• — 1 • — , , 05-7211) ... •• . — Argentine Lambs— - J First quality: 511 5% 30lb . and under .. • • 37-421b .. ...J*-- •• 43-501b .. •• •• 514 5,14 , 6>4 : 5 514 Patagonian Sheep— Wethbrs and/or maiden ewes. 314 314 314 50-001b „• .. • ■ •• >• v-' ' — Ewes: - • 40-5011) •• Patagonian l-ambs — ‘ ... First quality: •, s ■ 301b and under ... • • 414 414 ’Second quality: ■ 414 414 New Zealand-Frozen Beef— ’OI hinds (100.2201b) .. 314 314 •2HOx- forea-* (lGO-2201b) • • 2% , 2% Argentine Chilled Beef--. f Ox lores (160-2201b) • • — ,s% 316 G Ox • hinds (lG0-2201b) ■ 5^4 Australian Frozen Beef-r _ Oi crops under 1001b • .. ■ Ox crops over 1001b .. , ., 3% 314 Ox ’hinds under lOOIb’ .. — Ox hinds over > ICOlb,' .. . ■ New Zealand ■ Pigs—, " -,« First quality:. ... ■ . 60.1101b (av. SOlb) lll-1201b : ...... •• - X 5% Australian pigs— First quality: GO-llOlb (av. 801b). . lll-1201b *• — *% 5%

Paris, fr to 81 Par. 124.21 Dec. 15. 84*4 Deo. 17. 84% Brussels, bclsas to £1 .. 35 23.70% — Oslo, kr to 81 ,. 18.189 19 7-10 19.40 Stockholm, kr to -81 18.150 18.35 18.37% Copenhagen, kr to - 81 18.150 10.30 19.30 Berlin, mark] (o 8] 20.43 13.81% 13.90 Montreal, dol to . £1 4.80 2-3 3.7814 3.30% New York, dol' to £1 4.80,2-3 3.28% *3.30% Yokohama. pence to. Ten 24.582 15 5-10 15 5-16 Hongkong, pence , to dol 24.58 .15% 15% Bombay, pence to rupee . ~ 18 11-64 18 3-16 Bitarla. .florins to 81 — — 8.25% Milan., lire to £1 .. 82.40 64 6-16 04 11-16 Amsterdam, guilder to £1 12.107 8.18% 8.23% Prague., kr to 81 .. 104% III 111% Genera, kr to £1 .. 25.22% 17.11 17 7-32 Vienna, schillings ’ to £1 .84.08% 27% •27% HcUIngfora, marks to Cl 103.23 228 228 Madrid, pesetas to £1 25.23% 40% ■ 40% ■ Belgrade .. , .. 276.3 245 245 Athens, drachma to £1 375 600 607% l.lsboa escudos to £1 no 109 109% Bucharest, tel to 81 931.0 657% ' 600 UIo do Janeiro, pence tnllrel* •• •» .. to 6.89,0 6% *5% Buenos Aires, pence to — . — Shanghai, pence to 1 lad 20 5-16 20 5-16 Monterldcp, pence to peso 51 30 •30 Warsaw, zlotys to £1 — ’ • ‘ — “ . ■. • , w ■ ‘ * Nominal.