COMMERCE AND FINANCE

Otago Daily Times, Issue 21940, 29 April 1933, Page 7

COMMERCE AND FINANCE

DUNEDIN MARKETS WHEAT, OATS, ETC. Practically the only samples of milling wheat that have appeared on the market during the week have come from the Central Otago district, where the weather, apparently, has not been so broken as in t]ie coastal districts and has not prevented threshing. The majority of the millers are not interested in the odd lines coming on the market, as they have secured their full requirements. Some of the smaller millers, however, have yet to secure a few lots to make up their fub complement. It is hardly possible at present to ascertain whether there will be any surplus wheat ip this district, but, at any rate, the Wheat Purchase Board, has npt yet been called on to take delivery of surplus wheat grown in Otago. The position is different in North_ Otago and Canterbury, where large quantities are being put into store on account of the board. It is now practically certain that the average yields throughout the South Island will be higher than Was at first anticipated. * This will mean that a larger quantity of surplus wheat will be available fop export. The prices for this month’s in the Otago district are still on a basis of 3s 4d, f.0.b., for Tuscan. An extra Id will be' paid for next month’s deliveries. 1 _ Fpwl wheat continues to be scarce in this district, as nearly every line has been passed for milling. As a result merchants have had to go farther afield to secure their supplies of fowl wheat. These are now being drawn from the Southland district on a basis of 3s 2d, sacks extra, delivered Dunedin, The local demand is steady, but there is a difficulty in selling lines which are not of sound quality. Millers’ prices for flour, etc., are a* f °Flour: 2001 b, £l4 2s; 100’s, £ls 2s; CD’s, £ls 7s; 25’s, £ls 17s.

Bran, £5 per ton. \ Pollard, £6. , Oatmeal: 2001 b, £l6; 25 b, £lB, _ There is no change to record in the oat market and few orders are coming in, from the North Island. A Gartona are/ emoted on a. basis of Is Hd f f.od)., s.i.» with B’a at Is 7d to Is ,Bd. A Gartons have a better inquiry, as it is anticipated that there will not be too many of these available. Most of the crops are threshing out with a heavy percentage of B or undergrade quality. ..... Farmers are showing an inclination to hold their stocks'of oats rather than sell at the current values. In a of cases farmers requiring oats for feeding stock—-in place of bran and pollard—are paying above the rates ruling in Dunedin, The values to growers, on a snipping basis, unaltered at up to Is 2jd per bushel for heavy Gartons, country sidings, sacks extra; Is 2d for A’s, and Is for B s. These prices are at stations handy, to port of shipment. „ . , . .... The demand for chaff is of small dimensions. Good quality is valued at £3 15s per ton, sacks extra.- With the dry weather being experienced in Canterbury farmers there are now holding out for higher prices. Some lines have, however, been secured from the Gore district, where the railage is cheaper than from Canterbury. . The potato market is quieter. There is not the same inquiry from the North Island, and’values eased during the week. The value of good sound quality ex truck. Dunedin, is £2 15s per ton, sacks included. The wholesale ryegrass cocksfoot market reqiains quiet, There has, however, been a better demand for some export lines, chiefly, dogstail and brown top. The prices for these seeds are low, and also those for fescue, and it is .only, at low figures that sales can be made. It is reported that the prop of dogstail is much smaller than usual, but that a fair Quantity Of brown top will be saved. J-he price of standard Akaroa cocksfoot ranges up to 6d per lb, f.0.b., Lyttelton, with id per lb less for Plains’ seed. Wholesale prices are as follows: Chaff: Best quality, £3 10s to £3 15s per ton, sacks extra? ex truck, ' Potatoes, £2lss p«r, ton, ei truek, = ; Dairy butter: Milled bulk, 8d per Jb; separator, Bd. V , Bacon, lOd per lb, . , Ham: Ordinary, Is;, boneless, Is 2d per

lb. , ' 4Onions: Canterbury, 6s per cwt. Eggs: Stamped, Is 10d per dozen. Supplies of tomatoes are now getting into short compass, ,and for choice quality the market is firmer. The quantity offering at this late period of the season is surprising. The cold snap experienced during the week will probably, however, bring the season for outdoor-grown tomatoes to a close. The second crop of hothouse-grown is now appearing on the market, and has a good inquiry. FRUIT REPORT.

Supplies of apples are now arriving from all districts. There is not much demand for poor quality apples, aqd these have to be sold at low rates to quit. . Dessert pears are in better supply, and the market is a little" easier. Oranges and lemons continue in short supply, and high prices are ruling. The Australian ■orange Reason has now begun, and the growers there are no doubt anxiously waiting to see if the embargo on the importation of citrus fruit to New Zealand is to be lifted. . , . A shipment of Fiji bananas is due to arrive in Dunedin on Monday. A line or Island bananas is on board the mail steamer, due at. Wellington on Monday. These should arrive on the local market at the end of next week. Quinces have a poor demand. '' Peaches are practically finished for the season. . . ... A good Tine of Taien-grown cauliflowers realised Q a 3d per sack at the auction sales yesterday. v , ‘-Green peas have also a better demand, t’ There is a better demand for parsnips and swedes. ;• Carrots continue in heavy supply. ■Reports from Canterbury state that the vegetable market has firmed considerably owing to the dry weather which has been experienced there affecting the growth. Wholesale prices are as follows: — _ Apples: Cox’s Orange Pippins, choice 7c to 10s, poor quality 4s to ss; Jonathans, 4s to Os; Delicious, 4s 6d to 6s; cookers, 3s to 4s. , s Oranges: Californian navels, to 455. Christchurch tomatoes: Choice, 2Jd to 4d per lb; others, IJd to 2d per lb; local hothouse, to Bd. , Grapes; Local hothouse, lOd to 1b 2d per lb; Gros Colmar, Is 9d to 2s. Lemons: New Zealand-grown, best, quality, 18s to ,22a 6d; Italian, to 30s per half case. Pears: Dessert, 2s to 3s per half-ca«e; cookers, to 2s. Bananas: Ripe, 22s Gd per case. Rliqbarb; To lid per lb. Quinces, 3s 6d to 4s 6d per bushel case. Passions: North Island, 6s to 8s per half-case. New Zealand melons, 8s per cwt. Californian grape fruit, 45s per case. Lettuce: Choice, Is to Is Od per case. Cucumbers: Hothouse, 5s to 6s per dozen. /

LOCAL AND OVERSEAS MARKETS.

Marrows, 6s per cwt. Carrots, Is 6d to 2s per sugar bag. Cauliflower: Choice, 7s to 9s 3d per sack: others. Is 6d to 3s. Cabbage, 2s to 3s per sack. Green peas, 3d to 5d per lb. Potatoes, 3s 6d per cwt. Parsnips, to 2s 6d per sugar bag. Swedes, to Is 6d per sugar bag. DUNEDIN HIDE SALE Messrs Waters, Ritchie, and Co., Ltd., report as follows: — We held our monthly sale of hides on Thursday. Tanners and exporters were fully represented when we brought forward a catalogue which consisted of 1168 hides and yearlings and 90 calfskins. Good competition prevailed and, apart from an occasional decline of id and ?d per lb, values for well-cared-for lots showed little alteration on those_ ruling last month. Yearlings were slightly dearer. Calfskins firm. The following are some of our best price*;— , _ Ox: 4 83/681b, Sd; 2741 b, 8d; 6 65/721b, 75d; 10 71/721b, 7Jd; 16 631 b, 7Jd; 33 63/721b, 7d: 28 62/731b, 6|d; .35 621 b, 6id; 32 57/ollb, 6d; 9 64/651b, sgd; 15 56/601b, 51d; 76 55/631b, sd; 176 49/561b, 4gd; 23 551 b, 4gd; 49 50/611b, 4|d; 10 55/611b, 4d; 11 471 b, 3|d; 21 39/50lb, Cows: 3 591 b, 5Jd; 13 571 b, sd; 76 541 b, 4gd; 84 36/451b, Aid; 32 53/551b, 4Jd; 46 43/541b, 4d; 44 44/531b, 3|d; 17 38/381b, 3Jd; 9 44/581b, 3|d; 14 36/521b, 3Jd. Yearlings: Light, 5d to 5Jd; heavies, 4d to 5Jd. Calfskins, 6d to 7d. DUNEDIN CITY DEBENTURES The attention of holders of Dunedin City Debentures, on which interest is due on Monday, is drawn to the regulation* regarding stamp duty.« The law provides that the proportion of interest accrued to March 31 last is subject 'to a stamp duty of 10 per cent., which must be met by affixing stamps to each coupon, but the proportion of interest accruing from April 1 is subject to a deduction of 20 per cent., and this deduction is made by the bank when paying the coupons. All interest coupons due up to September next will be subject to this double charge, and it is the intention of the City Council to notify each month the amount of stamp duty to be affixed and the amount which will be deducted from the face value of coupons. BANK OF ENGLAND RETURN (United Press Association.) . (By Electric Telegraph—Copyright.) LONDON, April 27. The following is the Bank, of England return: — ISSUE DEPARTMENT. Note issue in circulation .. £371,934,552 Banking department .. .. 74,003,974 £445,938,526 Government debt ... .. .. £ 11,015,100 Other Government securities 236,804,160 Other securities 8,539,106 Silver coin 3,641,634 Gold,coin and bullion. ... .. 185,938,526 ’ £445,938,526 . - BANKING DEPARTMENT. Proprietors’ capital .. .. f 14,533,000 Rest .. .. .. .. .. .. 3,158,417 Public deposit .. 10,782,030 Other deposit (bankers) .. 100,436,137 Other accounts .. .. 37,104,911 Seven-day and other bills .. 7,412 £166,537,907' Government securities ... .. £68,531,127 Discounts and advances .. 11,631,385 Securities ~ .. •• •• 11,451,596 Notes in .reserve .. .. 74,003,9*4 Gold and silver coin 919,82 a £166,537.907 Th,e proportion of reserves to liabilities is 50.30 per cent. Short loans are quoted at i per cent.; three months’ bills at 17.32 per cent.

TAIERI HORSE FAIR /Messrs Donald Reid and Co., Ltd.,, reports having held the thirty-sixth annual Taieri Horse Fair at. the Allanton yards yesterday, 7 when they offered a yarding of 69 unbroken draught colts and fillies, 00 draught mares and geldings, and six hacks and eight harness hordes. Tim auction resulted in 119 horses being soldAs usual, this fixture attracted a large attendance, and buyers were present, from Southland, Heriot, Central Otago, Oamaru, and as far north as Christchurch. The quality of, the draught horses offered was on the average superior to that of last year. Canterbury buyers were keen bidders, and the majority of quality colts and fillies found new homes in the north, although some superior horses went to Southland. The demand throughout the sale was very spirited and continued strong until the end of the auction, showing clearly that good draught horses are still popular amongst the far? mers. ■ In the unbroken class the following satisfactory sales were realised: —For Mr John Campbell (Momona) the top price of GOgns was secured for a stud filly, two years and a-half old (sire Marengo, imp.)', which was bought by Mr J. G. APLachlan, of Rakaia. Mr Peter Dow, of Outram, also sold a filly of the same age by Marengo at £6O 10s, which was secured by Mr Rennie Patrick, of Willowbridge. Horses were also sold’ for Mr John Young (Allanton), 1 filly, 2J years, sire Brunstane Duplicate, £37. Executors late William Kirk (Mosgiel), 1 filly, sire Brunstane Duplicate, £47 10s; 1 filly, 2§yrs, sire Victory, £39 IQs; 1 filly, 24 years, sire Victory, £36. WV Lindsay (Allanton), 1 colt, 24 years, sire Baron Bold colt, £36 10b. J. W. Blair (Outram), I filly, 24 years, sire Victory, £3B 10s;; 1 fijly. 3-J years, sire Victory, £3B 10s; 3 colts, sire Victory, to £3l. T. J. Gfawn (Nort)i Taieri), 1 colt, 24 years, sire Lord Bush, £3O 10s; 2 colts, 24 years, sire Victory, £3O IDs. vW. Bryant (Qtokia), 1 filly. 2J years, sire Baron Bold colt, £35; 1 colt, 24 years, sire Bridgebauk Freestep, £34 10s. Cfjssey Miller (Sawyers’ Bay), 2 fillies, 24 years, sire Lord Rush, £3O to £32 10s, Executors late A. Moynihan (Momona), 1 filly, 24 years, sire Marengo, £34; 1 colt 24 years, sire Mareugo, £32 10s. Samuel Young (Outram), 1 filly, 24 years, sire Brunstane Duplicate, £35. Alexander Bathgate (Outram), 1 filly, 24 years, sire Victory, £32. John Young (Allanton), 1 colt, 24 years, sire Brunstane Duplicate, £32. Executors late James Miller (Maungatua), 1 filly, 24 years, sire Victory, £35 10s. John Miller (Maungatua), 1 coft,. 24 years, sire Marengo, £35 10s. A. Gillespie (Momona), 1 filly. 24 years, sire Victory, £32. T. Hewitt (Goodwood), 1 filly, 3 years, sire Ray of Hope, £35. P. M'E a 4y en (Middiemarch), I filly, 34 years, sire Fabric’s Fashion, £34; and a large number from £25 to £3O. In the broken-in section some _ very good prices were secured, the top price of the dav (£46 (Os)'being obtained by Airs I. M’Hattie, of Momona, for a five-year-old gelding by Victory Qther horses were sold for: Mr James Dow (Lee Creek), a 5-year-old mare by Black Douglas, at £46. John Young (Allanton), 1 4-year-old gelding by Brunstane Duplicate, £42 10s. J. T. James (Middiemarch), 1 6-year-old mare by Frabic’s Fashion, £4l 10s; 1 3-year-old gelding by Brunstane Duplicate, £4l; 1 3-year-old gelding by Victory, £3B. James Thomson (Banks), 1 gelding, 4 years, sire Scotland’s Discovery, £43 10s. W. Black)e (Alosgiel), 1 gelding, 4 years, sire Scotland’s Discovery, £4l 10s. A. Stewart (Pukehiki), 1 gelding, 3 years, sire Baron Dale, £4O 10s. W. Horne (Henley), 1 gelding, 4 years, £37 10s. F. Johnston (Momona), 1 mare, 5 years, £36 10s. James Gow (Invermay). 1 gelding, 6 years, £37. W. Robinson, jup. (Lovells Flat). ,1 mare. 8 years, £35. Other young draughts realised from £26. to £32, and old’ and aged horses from £ll 10s to £25. For hacks the demand was limited, but some were sold at from £3 to £9 10s. For any hacks or harness horses showing youth and quality buyers -were present.

MINING BELL-HOOPER CROMWELL GOLD, LTD. The secretary of the Bell-Hooper Cromwell Gold Company, Ltd., having returned from Cromwell, reports that all work is proceeding apace at the company’s claim* The roadway has been completed and is now used for the delivery of timber and plant as it cornea to hand. The new road that is being put in by the County Council along the north bank of the river has been pegged and when this is completed all claim holders will be assisted in gaining access to their claims. No. 1 tunnel is now in good shape and wash will be taken from this tunnel when the bins and machinery arc installed, ihe erection of the bins is proceeding and when the concrete floor ia properly set will be complete. The winch and motor for hauling the trucks up the incline to the bins are on the ground and foundations for these are being laid. It is expected that within three weeks wash will be taken from the No. 1 tunnel, ihe carpenters will .commence building huts, office, and blacksmith’s shop during the week. The contractor at No 2 tunnel. 10 chains down stream, is making good progress, having now completed to halt-way—-i.e., 150 feet. It may be necessary to place a small ventilating fan at this tunnel. The electric power poles are now on the claim and the power should be available within the next fortnight. GOLDEN DAWN RETURN. The Dunedin Stock Exchange has received the following telegram from the Golden Dawn Company:—For the nine working days ended April 22, 306 tons of material were treated for a return or £705, based on gold valued at £4 per ounce. MAHAKIPAWA RETURN. (Per United Press Association.) CHRISTCHURCH, April 28. The Mabakipawa return for the week was 320 z. KING SOLOMON DEEP LEAD. {Per United Press association.) INVERCARGILL. April 28. The wash-up at the King Solomon mine this week totalled 660 z 13dwt for five days’ work. PROPERTY PASSED IN ESTATE OF SIR JOSEPH WARD. A Christchurch business block at 143 Hereford street, with a frontage of 33ft and 65ft in depth, was offered for sale on Thursday afternoon. The property, which is owned by the estate of Sir Joseph Ward, has upon it a two-storeyed brick building, occupied by the National Mutual Life Association and a number of other tenants. The freehold was put up for sale to wind up the estate. There was a large attendance, and bidding opened at £3OOO. The property was passed in at £4750.

BUTTER AND CHEESE

(United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 27. Butter is firmer. New Zealand finest salted, 69s to 70s; unsalted, 69s to 70s. Australian best salted, 67s to 68s; unsalted, 68s to 70s. Danish, 98s. Cheese is firmer. New Zealand white, 395; coloured,’ 445. Australian,- 37s to 41e. Messrs Dalgety and Co., Ltd., have received the following cablegram from London dated April 27: —The butter market is firm. The cheese market is firm. Danish butter, 96a to 98s; New Zealand finest butter. 67s to 695; Australian finest ungalted butter, 67s to 68s; Australian finest salted* butter. 66s to 68s; Australian G.A.Q. butter, 62s to 645; Australian cheese, white, 36a to 375; Australian cheese; coloured, 39s to 41s; New Zealand cheese, white, 37s to 38s; New Zealand cheese, coloured. 43s to 445; Canadian cheese, white, 62s to 68s; Canadian cheese, coloured, 64a to 68s; Canadian cheese, c,i.f„ not quoted. Messrs A. S. Paterson and Co., Ltd., are in receipt of the following cable advice from London: — Butter.—Market firm owing to demand improving. Danish, 755; landed cost> 955; New Zealand, 70s; Australian,,69s. Cheese.—Market bare of stocks. Nominal white, 395, 40s; coloured, 435, 445.

INSURANCE.

SHIPPING.

MEAT PRESERVING.

MISCELLANEOUS.

BREWERIES.

OIL.

" MINING.

GOVERNMENT LOANS.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE BUSINESS OF THE WEEK. The following is a list of the business transacted on the Dunedin Stock Exchange during the past week:- £ s. d. Bank of New South Wales .. 28 10 0 Bank of New Zealand .. .. 2 5 3 Bank of New Zealand (three) 2 5 4 Bank of New Zealand .... 259 Commercial Bank 0 14 6 Westport Coal 0 13 0 New Zealand Drugs 3 3 6 Farmers’ Fertilisers 0 16 0 Wilsons Cement 1 12 6 Kildare 0 1 1 Okarito (five) 0 9 5 Paddy’s Point 0 5 2 Nokomai (two) 0 5 0 Fresh ford 0 15 Freshford 0 1 4 p.c. Stock (Jan., 1940) .. 99 15 0 4 p.c. Stock (Jan., 1946) .. 99 15 0 Calls have been held on the Dunedin Stock Exchange on only four days during the past week, and consequently the volume of business transacted has been light. Although the mining section has been predominant, the business has been well distributed, and most of the sections are represented. Business was done in Bank of New South Wales shares, which were turned over at £2B 10s. There was no inquiry for these towards the end of the week._ There has been considerable activity in Bank of New Zealanda, which were dealt in at £2 6s 3d, £2 5s 4d (three parcels), and £2 5a 9d, the last-named transaction concerning an odd parcel. Buyers were offering £2 5s at the close of the market, when sellers were firm at £2 5s 4d. A sale of Commercial Banks at 14s 6d was followed by inquiry at 14s sd, sellers demanding 3d more. The insurance and shipping sections have been quiet, although most shares are in pood demand. Westport Coals were turned over at 13s, and there was an unsupplied buyer at the close of the market at 12s Bd. There has been a slight improvement in the demand for paid-up New Zealand Refrigeratings, which are now being asked for at 10a 3d, sellers remaining firm at 4d more. There is a steady inquiry for the contributing issue, the latest quotations being 3s 7d (buyers), 3s lid (sellers). British Tobaccos are attracting a good deal of attention at present, and are wanted at £1 13s 9d, with a seller at fl 14s 6d. There is a keen demand for preferred Electrolytic Zincs, which are being asked for at £1 9s sd, sellers remaining firm at £1 10s. Mosjgiel Woollens are now being inquired for at £8 3s 6d, with a seller at £8 Bs. Business wag done in New Zealand Drugs at £3 3s 6d, and there is now a buyer at £3 4s, without a seller in the market. A sale of Farmers’ Fertilisers at 16s 6d has been followed by offers of 16s 3d, sellers demanding 9d more. Wilsons Cements had business at £1 12s 6d. These shares remain in steady demand, and are now wanted at £1 12s 2d, with a seller at fl 12s Bd. The demand for New Zealand Breweries has improved during the week, and these shares are now being asked for at £1 9s, sellers demanding 9d more. Kildares had business at Is lOd, the closing,quotations being la 9d (buyers), 2s (sellers). Five parcels of Okaritos changed hands at 9s sd. There was a very close market for these shares at the close of the period, when they were on offer at the former figure, only Id separating buyers and sellers. Paddy’s Points were turned over at 5b 2d, later offers of 5s Id failing to attract sellers, who were firm at 5s 4d. Two sales of Nokomai’s took place at ss. Buyers were offering an advance of Id on that figure at the close of the market, with a seller at 5s 3d. The market for Freshfords remains steady, and business has been done at Is 5d and Is 4§d: The closing quotations were Is 3d (buyers), Is 5d (sellers). The only business in Government Loans concerned parcels of 4 per cent, Stock (January, 1940) and 4 per cent. Stock (January, 1946), which changed hands at £99 15s.

SALE ON 'CHANGE. £ b. d. Freshford 0 1 4J SALES REPORTED. Westport Coal 0 13 0 Farmers’ Fertiliser .. .. ~ 0 16 6 The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:- ' BANKING. Buyer. Seller.

COAL. Westport 0 12 8 LOAN AND AGENCY.

DIVIDENDS PAYABLE. The following is a list of shares on which dividends will shortly be payable:— E.S. and A. Bank, Is 6d, interim May 1 National Bank of Australasia, ss, final • • • May National Bank of Australasia, (5s paid), 2s 6d, final .. .. -‘May Bank of Adelaide, 2s, final .. May 3

National Insurance, 4d, interim May 15 Kaitangata Coal, 2s, annual .. Dalgety, 2s 6d, interim .. .. May 17 Electro-Zinc (prcf.), 9 3-sd, interim Apl. 29 N.Z. Paper Mills, 9 3-sd, final .. May Mosgiel Wool, 3s 2 2-sd, interim May 13 Waihi, la, final

NORTHERN EXCHANGES (Per United Press Association.) The following business was done on ’Changes yesterday;— Auckland.-—Sales: Stock, 1946, 4 per cent., £99 15s; Stock, 1949, 4 per cent., £99 15s; Stock. 1955, 4 per cent., £9O 15s; E.S. and A. Bank, £4 6s 9d; Bank of New Zealand, 45s 3d; New Zealand In* surance, 49s 6d. 49s Od; South British Insurance, 64g (two); Renown Collieries (pref.), 6d (two); do (pref. new), 6d; Auckland Gas, 22s Id (two), Huddart, Parker, 29s 3d; Colonial Sugar, £55 Pis 6d; Kempthorne, Prosser, 63s 6d; New Zealand Newspapers, 235; Wilsons Cement, 325, 32 s Id, 32s 3d (two); Woolworths (pref.), 31s 9d; Golconda (Cd paid), Sd; Waihi, 22s 7R 22s 9d. Unlisted sales: Bell, Hooper, lO^d. Wellington.—Sales: Inscribed Stock, 4 per cent., 1940, £99 12s 6d; Bank of New Zealand, 45s 6d; Wellington Gas, 32s 6d; New Zealand Insurance, 49s 6d; Gear Meat, 27s 9d; Mount Lyell, 20s 4Jd; Big River (late Thursday), Is 2d. Christchurch. —Sales: 4 per cent. Stock, 1940, £IOO (two); E.S. and A. Bank (cum div.), £4 7s; National Bank o! Australasia (15 paid, cum div.), £8; Bank of New South Wales, £29; Union Bank of Australia, £7 10s, £7 9s 6d; New Zealand Breweries, 29s 2d, 29s 3d, 29s 4d; Wellington Gas, 335; Electrolytic Zinc (pref., cum div.), 29s 9d; Gillespie's Beach, la OJd; Golden Point, 14d (two); Golconda, 8d; Lawson’s Flat (9d paid), 114 d; Okarito, 9s 4d; Waihi (cum div.), 22s 7d; Freshford, Is 4Jd. Sales reported; 4 per cent. Inscribed, 1940, £IOO ss: 4 per cent. Inscribed, 1946, £IOO. Unlisted stocks sales: Aotearoa Gold, Is lOd; Bell, Hooper (two), lOd, 10£d; Central Shotover, Bd.

DAIRY PRODUCE The National Mortgage and Agency Company, Ltd., is in receipt of the following cablegram from London:—Butter. —Market improving. New Zealand finest, 70s; New Zealand first, 68s; New Zealand unsalted, 70s to 725; Danish, 945; Australian, 66a to 68s. Cheese. —Market steady. New Zealand white, 395; New Zealand coloured, 445; Canadian white, 645; Canadian coloured, 64s to 665.

LONDON STOCK EXCHANGE (United Press Association.) . (By Electric Telegraph—Copyright.) LONDON. April 27. The following are the latest quotations of Gorernment securities compared with the prices ruling last week:— Last week. This wees.

FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, April 27. Paris— Par. April 28. April 27.

LONDON METAL MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. April 3T. (Hecelred April 28, at 5.S p.m.) The following aro tho official quotations:—

BRITISH FUNDS FIRM (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, April 27. (Received April 28, at 5.5 p.m.) When the Stock Exchange closed British funds were firm, War Loan per cent, being £IOO lls 3d. Kaffirs were higher, and Argentine Railways were strong on news of the Anglo-Argentine trade agreement. NEW ZEALAND PAPER MILLS The directors of New Zealand PaperMills, Ltd., have resolved to recommend payment of a dividend at the rate of 4 per cent., which, with the interim dividend paid in November last, makes a distribution of 7 per cent, for'the year.

CHRISTCHURCH MARKETS (Per United Press Association.! CHRISTCHURCH, April 28. There is little business passing in the grain and produce market. The market for potatoes is fairly firm for prompt at about £2 15s a ton, on trucks. Not much business is beipg dope for lack of inquiry. . There is a quotation of £3 17s 6d to £4 a ton, f.0.b., s.i„ for spread delivery May-Jpne. There is no quotation available for the July-August-September section. Onions are quoted at £2 5s a ton, on trucks, with the market inactive. No other sections show any activity.

PRICE OF FINE GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 27. Fine gold is quoted at £6 Is 4d per ounce.

MELBOURNE MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) MELBOURNE, April 28. Wheat, 2s lid. Flour, £?. Bran and pollard, £4 10s. Oats, 2s to 2s Id. Barley.—English, 2s 4d to 2s 6d, Maize, 4s lid. Onions.—-Globes are scarce but firm at £2 to £2 2s 6d; Brown Spanish are dull at £2 15s and occasionally £3.

AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, April 28. (Received April 28, at 9 p.m.) On the Stock Exchange bond values retained the improvement registered earlier in the week, but the industrial and miscellaneous sections were not so uniformly strong as on the previous day. All departments of the investment market, however, were very active. - The following sales were made: — Bank of New* South Wales, £29 12s 6d; Commercial Bank of Sydney, £ls 12s 6d; National Bank (£5 paid), £6; Colonial Sugar (New Zealand delivery), £56; Burns Philp, 50s 6d; Associated News, 7s lid; Associated News (pref., ex div.), 17s 6d; Australian Gas (A), £6 I9s 6d; Australian Glass, 48s; British Tobacco, 34s 9d; British Tobacco (pref.), 27s 3d; Dunlop Perdriau, 16s lOJd; Dunlop Perdriau (pref.), 325; Goldsbrough, 22s 9d; Tooths, 36s 4id; Electrolytic Zinc (pref,), 30s Id; Broken Hill Proprietary, 31s 9d; North Broken Hill, 70s 9d; Zinc Corporation, 275. Commonwealth bonds (4 per cents): 1938, £lO4 2s 6d; ditto (New Zealand delivery £SOOO worth), £lO4 Is 3d; 1941, £lO4 8s 9d; 1944, £lO3 2s 6d; 1947, £lO3 7s 6d; 1950, £lO3 12s 6d; 1953, £lO4 2s 6d; 1955, £lO4 11s 3d; 1957, £lO4 18s 9d; 1961, £lO3 7s 6d. MELBOURNE, April 28. Metropolitan Gas, £l2 9s; Dunlop Perdiau, 16s lid; Goldsbrough, 22s 6d; Mount Lyell, 20s 3d; North Broken Hill, 71s.

£ 8. d. £ e. d. Australasia 10 0 0 — New Zealand .. .. 2 5 0 2 5 4 Commercial 0 14 5 0 14 8 E.S. and A 4 6 0 —- Natl, of N.Z Natl, of Australasia 3 9 0 (cont.) 5 15 0 *

National .. .. .. 0 10' 3 0 16 9 New Zealand •. .. 2 8 & — Standard .. .. .. 2 11 S 2 15 0

Huddart, Parker (ord.) 1 8 6 — Huddart, Parker (pref.) 1 2 6 — P. and 0. Def. Stock 0 16 0 — U.S.S. Co. (pref.) .. 1 2 1 —

Dalgety and Co. 7 7 0 -- Goldsbrough, Mort 1 2 0 12 9 Trustees, Executors 2 7 6 —

N.Z. Refrig, (pd).. 0 10 3 0 10 7 N.Z. Refrig, (eont.) South. Frozen Meat 0 3 7 0 3 11 (paid) .. .. .. 2 3 3 —

British Tobacco 1 13 9 1 14 6 Brown, Ewing (ord.) • 0 10 0 D.I.C. (ord.) .. .. — 0 11 0 D.I.C. (pref.) .... 0 18 0 — Dominion Fertiliser 0 10 3 — Dominion Fertiliser (debs.) '• 98 0 0 * Donagby’s Rope 1 16 0 — Electro-Zinc (pref.) 1 9 5 1 10 0 BlectvorZinc (ord.) 0 10 0 0 16 7 Milburn Lime .. . - I 6 0 — Mosgiel Woollen . . 8 3 ft 8 8 0 M'Leod Bros 23 0 0 Moupt Lyell .. .. 0 19 7 1 0 2 N.Z. Drug Co 3 4 0 — Fanners’ Fertiliser 0 16 3 0 17 0 N.Z. Paper Mills • • 1 6 6 — Regent Theatre .... ■ 0 17 0 Smith and Smith .. 0 10 0 — Wilsons Cement 1 12 2 1 12 8 Woolworths (pref.) 1 10 0 —

N.Z. Breweries 19 0 19 9 Dunedin 10 9 —

Moturoa (pref.) — 0 5 3

Waihi . . .. 1 2 3 —.. W aihi Grand Jctn. 0 3 8 0 3 n Kildare .. .. 0 1 9 0 2 0 Okarito .. .. 0 9 4 0 9 5 Paddy’s Point 0 5 1 0 5 4 King Solomon 0 •1 9 0 2 0 Golden Point 0 0 1 0 0 2 Golden Dawn 0 1 9 — Blackwater .. 1 1 9 1 2 3 Gillespie’s Beach .. — „ 0 1 5 Waitahu 0 5 0 0 5 2 Golden Sands 0 2 10 Big River .. 0 1 2i 0 1 O Mount David — 0 2 6 Nokomai 0 5 1 0 5 3 Freshford .. 0 I 3 0 i 5

3J p.c. Ins., 1038 .. 99 0 0 100 10 0 3| p.c., Ins., 1030 .. 99 0 0 — 4 p.c*. Bonds, Jan., 1940 99 15 0 — 4 p.c. Bonds, Feb., 1940 99 15 0 — 4 p.c. Bonds, April, 1949 99 15 0 — 4 p.c. Bonds, June, i955 99 15 0 — 4 p.c. Ins., Jan., 1940 99 15 0 —

4 «. d. g ft. d. Consols 76 2 6 75 10 0 Funding Loan, 4 p.c„ 1969-50 111 2 0 110 10 0 Assented War Loan .. .. 102 5 0 100 10 0 Conversion Loan, ZM p.c. .. 101 0 0 101 0 « Victory Bondi. 4 p.c. {ex dlv.) 103 0 0 109 17 3 C'wealth. 5 p.d- 1045-4? 107 12 3 107 6 0 C'wealth, 6 p.c., 1945-47 101 15 0 101 17 9 C'wealth, p.c., 1930-37 .. 101 7 6 101 6 0 Victoria. 8 p.c., 1929-40 90 7 e 90 6 0 Victoria. 8 hi P.o., 1929-40 as 15 0 95 12 6 Victoria. 514 P.o- 1930-40 .. 104 0 0 103 15 0 Victoria. 5 p.c.. 1932-42 101 15 0 101 15 0 Victoria, 4% P.C— 1910-00 ., 101 10 0 10i « « N.S.W., 4 p.c.; 1934 .. .. 102 10 0 102 M e N.S.W.. 8 p.o., 1935 .. 99 12 8 99 7 6 N.S.W.. 8Mi P.c,. 1080-40 .. 05 12 6 95 7 6 N.S.W., 814 P.o.. 1930-40 .. 101 10 0 101 10 0 N.S.W., 8 p.o.. 1030-40 101 5 0 101 6 0 Queensland 5 p.o,. Stock, todccnmbte 1940-00 102 5 0 102 2 6 Queensland. 8 p.c., 1922-47 .. 91 0 0 90 10 0 'Queensland, 0 p.c., 1929-40 ., 104 12 0 104 2 6 New Zealand. 414 P.O., 1945-51 108 1 3 108 6 0 New Zealand. 314 p.o., 1940 .. 100 10 0 100 7 6 New Zealand, S p.0., 1945 94 0 0 93 15 0 New Zealand. 6 p.o., 1930-51 ,. 107 10 0 107 0 0 S.A., 314 P.C— 1939 .. .. 101 10 0 101 2 « S.A., a P.O.. 1910 or alter .. 77 0 0 70 15 0 S.A.. 614 P.C— 1930-40 .. .. 102 6 0 102 5 0 Tasmania. 814 P.C., 1930-40 100 17 6 100 7 8 Tasmania. B p.o., 1910-40 .. S3 15 0 98 15 0 Tasmania, 014 P.c., 1930-40 .. 102 7 6 102 12 e W.A., 814 p.o., 1928-80 .. .. 101 0 0 100 r s W.A- 8 P.C., 1915-35 .. .. 99 10 0 99 7 6 W.A., 8 p.c- 1930-40 .. .. 103 6 0 102 3 6

Francs to SI .. Brussels— 124.21 87 7-18 86% Belgas to £1 Oslo— 85 24.65 24.32} Kroner to £ 1 .. Stockholm— 18.189 19% 19.60 Kroner to £1 .. Copenhagen— 13.150 19 11-32 19.35 Kroner to £1 .. Berlin— 18.150 22 7-16 22.45 Marks to £1 .. Montreal— 20.43 15.02} 14.80 Dollars to £1 .. New York— 4.S3 2-3 4.39ft 4.33 Dollars to £1 .. Yokohama— 4.88 2-3 3.78i 3.73} Pence to yen .. Hongkong— 24.582 15 1-16 15 Ponce to dollars Bombay— 24.58 18 T-16 10} Pence to rupee Batavia — — 18 1-32 18 1-16 Florins to £1 Milan— 12.10 8.72 8.72 Lire to £ X ,, Amsterdam — 82.46 06 3-16 65 9-16 Guilder to £1 Prague— 12,107 8.55} 8.46 Kroner to £1 .. Geneva— 104ft 115} 115} Kroner to £1 . .. Vienna—; 25.22} 17.85 17.60 Schillings to £1 Helsingfors— 84.68} 33 S3 Marks to £1 .. Madrid— 193.23 228 227 Pesetas to £ 1 Belgrade— 25.23} 40} 39 15-16 Dinars to £1 .. Athens — 25.22} 255 255 Drachma to £1 Lisbon— 375' 607} 605 Escudos to £1 Bucharest— 110 110 110 Lei to £1 Rio de Janeiro — 931.6 580 575 Pence to mllrels Buenos Aires — 5.890 5% 5% Pence to pesos Shanghai— 47.28 41 41 Pence to tael .. Montevideo — 14 15-16 15 1-16 Pence to pesos Warsaw — — 33 v 38 Zlotys to £1 .. — — —

Copper, spot .. .. Ton. £50 15 0 Fall £0 0 714 Copper, forward .. SO 18 1014 Fall 0 1 S Electrolytic, spot ,, 35 3 0 R{se 0 15 0 Electrolytic, forward 35 7 6 Fall 0 2 c Wire bars .. *. 35 17 G Rise 0 17 c Lead, spot .. .. 11 0 0 Fall 0 S 8 Lead forward 11 3 9 Fall 0 3 D Spelter, spot , • 15 3 J! Fall 0 2 6 Spelter, forward .. 15 5 0 Fall 0 5 0 Tin. spot .. .. .. 104 11 3 lllso 0 10 0 Tin. forward .. .. 1C5 3 9 Rise 0 10 0 Silver, standard .. Oz. 18 3-lCd Fall 5-10d Silver, fine .. .. 21 13-lGd Rise lT4d