COMMERCE AND FINANCE

Otago Daily Times, Issue 21941, 1 May 1933, Page 7

COMMERCE AND FINANCE

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Five parcels of Big Rivers wore turned ever on the Dunedin Stock Exchange on Saturday at Is 3d. Buyers were offering that figure at the'close of the market, but sellers demanded Id more. Freshfords were sold at Is 4d, later offers oi Id less failing to attract a seller. Two sales of Mount Morgans were reported at il 14b 6d. Sales were reported of 4 per cent. Stock (January, 1940) and 4 per cent Stock (June, 1955) at £IOO. SALES ON ’CHANGE. £ s. d. UifT River (five) 0 1 3 Preshford 0 1 * SALES REPORTED. Mount Morgan (two) 1-14 ® 4 per cent. Stock (Jan., 1940) 100 0 0 i per cent. Stock (June, 1955) 100 0 0 (The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage:—

NORTHERN EXCHANGES (Peb United Pbess Association.) 1 The following business was done on' yesterday:— Auckland.—Sales; Farmers’ Co-op. Auctioneering (B pref.), lls 6d; New Zealand Breweries, 29s 6d; Staples, 245; Golconda (6d paid), Bid, Sid; Waihi Junction, 3s lid; Waihi, 22s 9d. Wellington.—Sales: Inscribed Stock 4 per cent. (1955), £99 15s; Commercial Bank, 14s 7d; Bank of New Zealand, 45s (sd; New Zealand Breweries, 29s 6d; Staples* 245; Colonial Sugar, £55 12s 6d; New Zealand Drug, 64s sd. Christchurch. —New Zealand Government 4 per cent. Inscribed Stock (1940),£100; E.S.' and A. Bank (cum div.), £4 6s 0d (two); National Bank/ of Australasia (£5 paid, cum div.), £5 19s; Bank of New Zealand, 45s 2d, 45s Id; Union Bank, £7 10s; Golden Point, lid; King Solomon, Is lid (two); Waihi (cum div.). 22« Pd, Sales reported: Union Bank of Australia, £7 10s 6d; Beath and Co., 25s 6d; New Zealand Newspapers, 22s 6d; ( New Zealand Government 4 per cent. Inscribed Stock (1940, 1946, 1949, 1955),

LOCAL AND OVERSEAS MARKETS.

MERCHANDISE MARKET The Waipiata, which arrived on Saturday, brought a cargo of sugar. ine Waimarino' will land another cargo on Supplies of Krusohen’s salts, M Clinton’s barilla' soap, Liverpool cornflour, cream of tartar, and other West of England lines are on board the Oran, now at Dunedin. „ , - The Waikawa, due on May 4 from Pacific Coast ports, will land supplies of unbleached and golden bleached raisins, seeded raisins In packets, prunes, kerosene, etc. V ■ ■ • ■ _ , , ~ The Waikouaiti, from Sydney, brought supplies of Australian prunes,, a large quantity of Ceylon tea. Sicily almonds, Chinese peanuts i|U shell,: Chinese walnut meat, Stern’s tonic wine, Cuticura ointment and soap. ’■ ' Fiji pineapples; are expected on the market within the next few days, ■ ‘ Advice has been received that supplies of Australian rice . will be available on the New Zealand market . The Kia Ora, now discharging at Port Chalmers, brought a shipment of rock salt, to a hare market. , . Lard, which is in short supply, has firmed in price. • ■ , , , Painkiller shows a reduced cost. DAIRY PRODUCE Messrs H. L. Tapley and Co., Ltd., have received the following cabled market report from London: • Butter, 70s per cwt. The market is firm. ~ , Cheese.—White, 39s to ,40s per cwt.; coloured. Ms per cwt. The market is steadier The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produce Association, Ltd., London:— . Butter—Firm, 70s to 71s; Danish, 95s to 908 Cheese. —Firm. White, 39s to 40s, coloured, 455. . LONDON PRODUCE MARKET The Bank of New Zealand has received the following advice from its London office as at date, April 28: Frozen Meat. —For wethers the market | is dull, and there is little business doing. There is only a poor demand for ewes. There is a moderate demand for lambs, while prices are a shade lower. Wethers, light, 3|d to 4d per lb; heavy, 2gd to 3|d; ewes. 3d to 3*d; lambs—twos, s|d to 6|d, eights, 4|d to 4?d; fours, 4|d to 4§d; seconds, s|d to s|d. BANK OF NEW ZEALAND DIVIDEND (Pee United Press Association.) WELLINGTON, April 29. The directors of the Bank of New Zealand announce that, subject to audit, they will propose at the annual meeting in June that a dividend of 5 per cent, for the half year ended March 31 be paid on ordinary shares, making (with the interim dividend paid in December last) a distribution of Hi per cent, for the year, as compared with 14 1-3 per cent, for the previous year. The dividend on other shareholdings will be in terms of the statutory provision. DONAGHY’S ROPE AND TWINE NET PROFIT OF £5630. The directors of Donaghy’s Rope and Twine Company, Ltd., report to shareholders that the net profit for the year ended March 31 was £5650 19s lOd. This sum, with last year’s carry forward of £2570 14s Gd and less an interim dividend paid in October laat amounting to £1762 10s, leaves available for distribution £6459 4s 4d. , , The directors recommend the following appropriations:—A final dividend of lOd per share from the trading, account, absorbing £1958 6s Bd, and 5d per share out of income from investments, absorbing £979 3a 4cl, making (with the interim dividend of 9d per share paid in October) 10 per cent, for the year, £2937 10s. The amount carried forward to next year is £3521 14s 4d. Depreciation amounting to £3073 15s lid has been written on buildings and plant.

.THE WOOL TRADE FINE DESCRIPTIONS FIRM. (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 28. The Yorkshire Post sajjs that sustained firmness of fine wools is a refreshing sign of stability in the wool industry, when confidence was never more needed. Ihe trade should steadily advance on the "existing well-established raw material basis. It is long since fiue wools showed greater firmness so late in the season. Everything indicates absorption of the current season's clip.-with a little carry--over. LONDON STOCK EXCHANGE (British Official Wireless.i (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, April 28. Although a firm lone was exhibited in the early dealings on the London Stock Exchange it was not fully maintained. The underlying tendency,of the markets was cheerful. The city anticipates appreciable advances in the price index figures at the end of the month. The signing of the Danish agreement and the announcement that an understanding had been reached in the Argentine financial and trade negotiations are regarded as encouraging developments. British funds registered gains of 1-1 G to J. AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph-—Copyright.) 1 SYDNEY, April 29. (Received April 29, at 5 p.m.) The following sales were made on the Stock Exchange this morning:—Commonwealth Bonds (4 per cents.)- —1941, £lO4 12s Gd; 1944, £lO3 7s Gel: Bank of New South Wales, £29 12s 6d; New Guinea Goldfields, 5s lid. NEW ZEALAND FRUIT _£ (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 28. The Rotorua’s New Zealand apples realised: Cox’s, 9s to 14s; Worcester, 8a to 10s 3d: Delicious, 10s to 13s 3d; Dunns, 11s; Wolseley, 8s Cd to 9s 3d; Jonathans, 9b, to 12s 9d. The Rangitiki’s New Zealand pears realised; Boses, 10s 6d to 12s Gd; Vicars, 6s Gd to 7s 3d; Packham, 10s to 10s 3d; Winter Cole, Ss 3d to 10s 9d; Clairgeau, 7s 6d to 8s 6d. PRICE OF SILVER (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, April 29. (Received April 29, at 5 p.m.) Silver: Spot and forward, 20d per ounce. LONDON MARKETS ' (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 29. (Received April 30, at 6.30 p.m.) Osmiridian is unchanged. ' Cotton: Spot, 5.53 d per lb; May, 5.22 d. Rubber: Para, 4Jd; plantation smoked, 2§d. Jute; May and June, £l6 6s 3d. Copra: The market is inactive. May and Jujac, nominal; South Sea, £lO 10s; plantation Rabaul, £lO 7s 6d. * Linseed, oil, £lB. Turpentine, 61s. MOUNT LYELL SHARES (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, April 29. (Received April 30, at 6.30 p.m.) Mount Lyell shares, 16s. THE RABBIT MARKET (United Press Association.) (By Electric Telegraph—Copyright.) , ; LONDON, April 29. (Received April 30, at 6.30 p.m.) First large, ex store, 13s to 13a 6d. FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph-—Copyright.).

SUN NEWSPAPERS LTD. CAPITAL REDUCTION PLAN. A proposal to reduce the capital of Sun Newspapers Ltd., Christchurch, is to be submitted to the annual meeting of shareholders. The resolution provides for a reduction of the capital of the company from £300,000, divided into 300,000 shares of £1 each, to £125,000, divided into 250,000 shares of 10s each. It is proposed to cancel capital which has been lost or is unrepresented by available assets, to the extent of 10s a share upon each of the fully-paid 250.000 shares which have been issued, to reduce the nominal amount of all shares from £1 to 10s each, and to cancel 60,000 shares which have not befen issued.

MINING GOLDEN DAWN. The latest return from Golden Dawn is as follows; —For the nine working days ended April 23 (Easter sunervening) 306 tong were treated for a return of £705, gold valued at £4 per ounce. This is equivalent to 174 J ounces worth at current prices, less tax, approximately £ 116 G. CUSTOMS RETURNS FIGURES FOR DUNEDIN. The Customs returns for the Fort of Otago for last month, compared with those for the corresponding month of 1932, show a .slight decrease in net Customs. There was a. substantial drop in beer duty, but petrol tax showed an increase; Sales tax amounting to £22.358 _7s Sd was collected during the month, including the first payment by wholesalers and manufacturing retailers. April, 1933 April, 1932. £ s. d. £ s. d. Net Customs 40,711 7 2 41,030 19 9 Beer .. .. 13,401 5 0 20,237 12 0 Petrol .. .. 14.087 10 6 12,668 11 0 Tyres .... 083 18 0 657 18 0 Sales tax .. 22,358 7 8. AUCKLAND RETURNS. .J’eb U N item I'aicsf Association.' AUCKLAND, April 30. The Customs duty collected at Auckland last month totalled £166.517, compared with £157,813 in April, 1932. ihe total Customs collection for the four months of this year was £701,392, against £657,225 in the first four months of 1932. The amount collected in motor spirit tax was £39,419, and in tyre duty £1525, compared with £42,767 and £1960, respectively, in April last year. Excise on beer amounted to £9735, as against £8609 in April last year. . The collection of ihe sales tax in April was £56,625. making a total of £68.157 to date. FIGURES FOR WELLINGTON. (Pee United Press Association.) WELLINGTON, April 30. The Customs revenue for April totalled £136,913, compared with £185,301 last vear, the smallest of any month since May, 1931, when the total was £132,730. The total for the four months ot the year was £619.764. Motor spirits 'revenue totalled £57,261 for April (four months, £235,971; tyre tax, £1676 for April (four months, £4787); beer duty, £4004 for April (four months, £17,884)i ihe sales tax for April was £65,585, and 'the total sales tax collected in Wellington totalled £77,162. , CHRISTCHURCH FIGURES. (Per United Press Association.) CHRISTCHURCH, April 30. Customs returns for April, compared with April, 1932, were;—Customs, £52,343 (£81,961); beer excise, £6518 (£6o38); motor spirits. £16,552 (£16,906); tyre tax. £B6 (£984); sales tax, £25,727. SOUTH AFRICAN POUND (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, April 28. (Received April 29, at 5 p.m.) The South African pound is quoted at £99 17s 6d and £IOO 17s 6d per £IOO sterling. WORLD WHEAT SUPPLY In the course of a review of the world wheat supply for 1933, the farm outlook report of the Bureau of Agricultural Economics (IJ.S.A.) says: ‘ Ihe world wheat market, as ivell as wheat market of the United States, will again be burdened by the heavy stocks of wheat at the beginning of the 1933-34 season. The surplus of wheat for export or carryover in the four principal exporting countries (United States, Canada, Argentina, and Australia), plus United Kingdom port stocks and quantities afloat, is estimated to be 1,024,000,000 bushels as on January 1, 1933, eompared with 1,035,000,000 a year earlier. These estimates are subject to some .change if changes occur in estimates of crops or in domestic utilisation in the various countries, hut in any event supplies in these positions are about as large aa were similar supplies a year earlier. There is little yet available to indicate the probable size of the 1933-34 world wheat crop. Yields for the world, excluding Russia and China, in 1932-33 were slightly above the average of the preceding 12 years, the very low yields in the United States being more than offset by higher-than-average yields in other countries. If yields outside the United States should be average in 1933-34, and if there should be no change in dcreage, then the total production tor the world, excluding Russia and China, would probably be somewhat below that; of .1932-33, for there is the prospect of an ewen smaller winter wheat crop in the Unic*4r States in 1933 than in 1932. Such a decrease in the world crop, outside Russia., and 'China, would more than offset any increase in accounted for carry-over that might occur.” FRUIT AND PRODUCE WORLD Reilly’s report selling:— Per Dozen. —Cauliflower, 3s, 6s. Cabbage, 2s, 3s. Lettuce, 6d, la. Spring onions, 6d, Honey: Jib pats, 3s 6d; section honey, 6a, Bs. Celery, Is, 2s. Eggs: Poultrykeepers, Is Bd, Is lOd; pullets, Is 6d. Gladioli corns, 4s 6d to 40s; Roses: Bush, 15s to 20s; climbers, Iss to 245. Polyanthus roses, 18s to 245. Each. —Champion egg crates, 15s Od. Knapsack sprayers, £5. Roses: Miss Australia, h.t., the rose of 1933, _ ss; Mrs J. D. Eisele, h.t., a new American rose of oustanding quality, ss; Climbing Etoile de Hollands, the greatest acquisition in climbing roses, ss. Half-cases. —Apples; Desserts, Otago Central Coxes (wanted). 5s 6d. Pears: Conference, 2s 6d, 3s; Winter Coles, 2s, 2s od. Peaches, 3s, 4s 6d. Passions: New Zealand choice, ss, 7s 6d. Plums: Coe’s Late Red, 3s 6d, 4s 6d. Cucumbers: Outside, Is 6d, 2s; hothouse, 4s 6d, 7s 6d. Bushel Cases. —Applies: Otago. Central Coxes (wanted), 11s 6d; Jonathans, 4s, ss; Delicious, 4s, 6s; cookers, 3s, 4s 6d; others, 2s, 3s 6d. Pears; Winter Nelis, 6s, 8s; Winter Coles, os, 7s; Conference, 6s 6d; cookers, 4s. Lemons:'New Zealand, 22s 6d; Italian, 30s. American Cases. —Oranges; Valencias, 47b 6d; Island. 22s 6d. Bananas; Ripes, 22s 6d. Californian grapefruit, 50s. Sacks. —Coconuts, 10s 6d. Per Pound. —Plums; Choice desserts, 4Jd, sd. Quinces, Id, 2s. Garlic, 2d. Peaches: Crates, ’ 2Jd, 4d. Bulk honey: Choice, 4d; discoloured, 2d. Huckleberries, 6d. Green peas, sd, 6jd. Grapes; Oamaru, IOJd, Is Id; local, Is, Is Id; Gros Colmars, Is 7Jd, Is 10d. Walnuts. sd, od. French beans: Houthouse, 6d, B}d. Cheese, 7d. Tea: Orange Pekoe, 2s. Beeswax, Is. Mushrooms, 4Jd. Porker and bacon pigs. 3d, sd. Bacon: Prime, 8d; hams, lid. Tomatoes; Locals, 6Jd, 8d; Christchurch choice, 4d, Sid: seconds, 2d; Otago Central, choice 3d, sd, seconds 2d, Butter: Storekeepers, Bd. Per Cwt.—Pumpkins, 6s. Marrows, 6s. Potatoes, 4s. Onions: Canterbury, 6s 6d. Oyster grit, 7s. Woodwool, 28s. Bluestonc; Macclesfield, 42s 6d. Picmelons, 8s 6d. „ , Olive oil. 10s gallon. Semesan and granosan: 2oz, 2s 3d; Mb, 7s 6d; lib, 12s; 51b, 555; 261 b, 2455. Fruit wraps, 3s 6d ream. vallo Giraffe lime sulphur: Cases, 8 gallons, 2s 3d; barrels, Is 6d. , n „ Black Leaf “40”; American. 101 b, 525: 51b, 30s; 11b, 8s 6d; Jib, 4s 6d. British, 101 b, 50s; 51b, 27s 6d; lib, 7s Od. Per Bushel. —Wheat: Choice Canterbury, 4s, 4s 6d; seconds, 3s 6d. Partridge peas, 4s 6d. Kibbled maize, 6s. Gate: A Gartens, Is 9d: B, Is od. Crushed oats, 11s. X Keys meatmcal, 16s. Firewood blocks, 2s 6d. First grade coal. 3s per bag. delivered. Manuka tomato stakes, 8s per 100. Palmer’s chick food: 100 lb, 17s 6d: 501 b, 10s 6d; 251 b. 6s. Acorn buttermilk powder, 3d lb. Per Ton. —Bran, £5. Pollard, £6. Straw; Wheaten, £2 ss; oaten, £2 10s; hay, £4. Oatsheaf chaff, £3 10s; exstore, £4. Oatmeal, £23. Per Pair. —Poultry: 207 hens at 2s 4d to 7s 6d, 83 cockerels at 3s 4d to Bs, 24 chickens at 2s 6d to 2s Bd, 70 ducks at 4s to 10s 2d, 19 pullets at 4s 6d to 10s 6d. REILLY’S CENTRAL PRODUCE MART, LTD., Moray place, Dunedin.

SOUTHLAND MARKETS (From Our Own Correspondent.) INVERCARGILL, April 28. STOCK REPORT. .The stock market is well supplied in all sections and values are much the same as recorded in our report of last week. Fat cattle are coming forward in large numbers, the offering at Lonivillc sale on Wednesday being a very large one and consequent values were easier and passings frequent. Fat sheep arc also offering freely, there being a large entry during the week, values for which remain firm at late quotations. The store sheep yardings have eased during the week, the bulk of the heavy autumn drafts now haying been quitted. The market in this section remains firm, ’the store cattle market is very quiet and values are the lowest for a considerable time. Fat Cattle—Prime heavy bullocks. £5 to £6; medium-weight, £4 to £4los; prime heavy heifers, £3 to £4; medium-weiglit, £2 to £2s 10d; prime heavy cows, £2 15s to £3 10s; medium, £1 15s to £2 ss; vealers. to 10s; runners, to £1 10s. Fat Sheep.—Prime heavy wethers, 13s to 14s; medium, 10s Od to 11s 0d; prime heavy ewes, 5s 6d to 6s; medium, 3s Od to 4s 3d; prime heavy lambs, 12s 6d to 13s Od; medium, 10s to 11s. Store Sbeep.—Mixed sex forward rape lambs, 7s 6d to 8s Od; best Romney ewe lambs, 10s 6d to Us 6d; medium, 7s 0d to 8s 6d; two-tooth ewes, 14s to 15s; four, six, and eigth-tooth, 9s to 10s 6d; sound-mouth ewes (guaranteed), 8s 6d to 11s; failing-mouthed. 4s to ss; aged ewes, 2s to 3s. Store Cattle, —Three and four-year bullocks, £3 10s to £4; two-year, £2 to £2 10s: yearlings, £1 to £1 10s; two-year heifers. £1 10s to £2. GRAIN REPORT. Oats.—For some little time it has become apparent that though Southland oats are in good condition and of heavy weight, A Grade, in so far as colour is concerned, is distinctly on the short side. On account of a similar evident shortage in northern growing districts, inquiries for A's have been frequent, but merchants are disinclined further to commit" themselves, and values on that account have somewhat firmed, current quotations for A Grade being Is lid, f.0.b., s.i., B’s Is Bd, while a considerable quantity of heavyweight oats from 411 b to 431 b, which are hardly in accordance with last year’s B Grade so far as colour is concerned, have changed hands at from Is 8d to Is 9d per bushel, f.0.b., s.i. Business lias also taken place in good quality Duns, 401 b and ovei at 2s, f.0.b., s.i. Crested Dogstail.—On account of the short crops these have appreciated in value, current quotations between merchants for exportable quality are round about 4d per lb. Chewings fescue is in much the same condition, buyers showing little interest on account of the absence of orders from overseas. Nominal market values, can merely be given at from 2Jd to 3d per lb for machine-dressed seed. Ryegrass.—So far very little seed has come in from and it is evident from casual inquiries round the country districts that farmers have decided to leave their ryegrass stacks unthreshed, in the hope possibly that things may improve with the advent of the spring demand, but more possibly with the idea of avoiding threshing expenses and the provision of the necessary sacks. FAT SHEEP SALE At the Burnside weekly market on Thursday Messrs Wright, Stephenson, and Co., Ltd., sold the following list of fat sheep I *'for the clients mentioned: —Cross Bros. (Otama), 13 wethers 13s 6d, 23 11s 9d; D. McDonald (Ida Valley), 14 wethers 13s 3d; a Kelso client, 7 wethers 13s, 10 11s 6d, 15 ewes 10s, 12 9s 6d, 6 8s 9d, 10 7s 9d; ,W. J. and F. D. Reid -(Woodside), 30 wethers 12s, 18 11s 9d, 12 11s 6d; D. Ross (Palmerston), 47 wethers Us 9d, 12 11s 6d, 15 11s 3d; a Central,Otago client: 11 ewes 7s 9d, 16 7s. 13 6s 3d. 12 6s, 14 6s 6d; John Andrew (Tiroiti), pen ewes 6s 6d. IMPORTANT MINING DEAL The Central Shotover Gold Mining Company, which was recently incorporated, has purchased the pipe line at present in use by the Big Beach Company. The Big Beach claim is only a few miles away, and the purchase will enable the company to commence operations in two months. Further, not only will the company have ■’equipped its claim at half the original estimated cost, but it will have sufficient plant to equip another claim. This deal was successfully negotiated by Mr H. Hart, the chairman of directors of the Central Shotover Company. UNITED STATES BANKS THOUSANDS OF FAILURES. The following table, compiled from official sources, gives details of bank failures in the United States during the four years 1929 to 1932:

Total .. .. 5729 3,520,000,000 During the four years covered by the above table 771 of the banks with deposits totalling 521,000,000 /dollars were reopened. On September 20, 1932, there were 18,704 banks in the United States. Of these, 6080 vjAre National Banks incorporated under Federal laws. All National Banks are members of the Federal Reserve system. Of the remaining 12,714 State banks, incorporated under the laws of the 48 States, 824 were members of the Federal Reserve system. The 6904 member banks of the Federal Reserve system, which are about 37 per cent, of the total, have about 60 per cent, of the total deposits. BANK OF ENGLAND RECORD GOLD STOCK. The Bank of England created a new high record for its gold holding in the week ended April 15. The bank return at April 12 discloses an increase of £1,978,181 making the total £178,510,972. In less than four months the bank has accumulated an addition of £58,722,688 to its gold stock. Complementary to the increase in gold, the notes in circulation expanded by £4,701,073, and the net increase of £1,978,181 in the total issue is effected by a decrease of £2,722,892 in the note reserve of the Banking Department. BIG CONTRACT FOR IRAK The Irak Petroleum Company, Ltd., has placed with a British firm an important contract for 15 Diesel engines of 500 horse-power each, of the four-stroke, single acting airless injection type, for five of the pumping stations on the Irak pipe line. The British Trade Commissioner in New Zealand is informed that this line is at present under construction to convey oil from the company’s oilfields in Irak across the desert to the Mediterranean ports of Haifa and Tripoli. This order has been secured in competition with all the first-class oil engine builders in the world. The building of the engines is being carried out in Glasgow.

v ■ BANKING. Buyer. Seller. £ s. d. £ 8. d. A’asia 10 0 0 — . 6 N.Z. 2 5 0 2 5 Commercial .. .. 0 14 4 0 14 8 Natl, of N.Z. .. 3 9 0 ■ Natl, of A’asia .. 12 0 0 — 7 8 0 — \ insurance. National' 0 16 4 — New Zealand .. .. 2 S' 6 ~ South British 3 1 6 • Standard ».. .. .. 2 11 6 2 15 0 \ SHIPPING. Huddart, Parker (pref.) . i . . .. 1 3 0 * P. and 0. Deferred -0 16 . i Stock .. 0 — U.S.S. Co. (prof.) 1 2 0 — i COAL. Kaitangata . 1 0 0 \ — Westport .. ... 0 12 6 — LOAN AND AGENCY. Goldabrough, Molt Trustees, Executors 2 7 6 1; 2( 6 MEAT PRESERVING. N;Z. Refrigerating ■ 0 10 (paid) ' 0 10 3 7 N.Z. Refrigerating • (cont.) , 6 3 7 —7* South. Froz. Meat \ - K 2 3 3 . MISCELLANEOUS. British Tobacco 1 13 6 — Broken Hill Propy. 1 11 0 i Brown, Ewing (ord.) , 0 10 0 Brown, Ewing (pref.) 0 19 0 Bruce Woollen 0, (pref.): —r 1 0 B.I.C., (ord.) .. •. 0 .11 °s D.I.C. (pref.) .. 0 18; 3 — Dominion Fertiliser 0 10 : 3 — Dominion Fertiliser (debs.) 99 0 0 — Donaghy’a Rope .. 1 15 0 V 1 18 6 Electro-Zinc (ord.) 0 16 0. — Jlilburn Lime 1 6 0 ■ Mosgiel Woollen 8 0 0 — JPLeod Bros. 25 0 0 N.Z. Drug Co. .. 3 3 0. :■ 0 Farmers’ Fertiliser 0 16 3 0 16 N.Z. ■ Paper Mills Regent Theatre .. 15 6 0 17 0 Smith and Smith 0 10 0 , i. 9 Wilsons Cement .. 1 12.. ,0 1 12 BREWERIES. K.Z.' Breweries .. 1 9 0 1 10 0 Dunedin .. .. .. 1 0 9 “ • OIL. Hoturoa — 0 4 6 Moturoa (pref.) 0 4 0 MINING. 8 Kawarau .. .. — 0 0 Waihi • ■ 1 2 5 Waihi Grand J<rtn. 0 3 9 0 4 0 Kildare \ o i : 10 0-111 Okarito - - .... 0 9 3 0 9 5 Paddy’s Point 0 5 0 ■ Cornish Point — 0 0 3 Golden Progress .. 0 02 King.;: Solomon 0 2 0 Golden' Point — 0 0 2 Blackwater .. . - '. — 1 2 6 Gillespie’s Beach 0 1 4 0 1 5 Waitihu .. 0 5 0 0 5 2 Big River .. .. 0 1 3 0 1 4, Mount David — 0 2 9 Nokomai .. •. .. 0 5 0 , Freshford 0 1 3 — Lawson’s Flat .. 0 0 11 . • GOVERNMENT LOANS. Si px.‘ In*;, H)38 ‘.. Si p.e. Iris., ®39 .. 99 0 99 0 0 100 V 5 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, 1955 .... .. 99 10 0 4 p.c. Ins., Jan., - 1940 .. .. 99 15 0 100 5 0 4 p.c. Ins., June, mss . 100 5, 0 DIVIDENDS PAYABLE. The following is a list of shares on ■which dividends will shortly be payable: E. 8. and A. Bank, Is fld, interim .. .. .. . May 1 National Bank pf Australasia, 5s, final May National Bank of Australasia, (5s paid), 2s 6d Bank of 1 Adelaide, , final May 2s. final .. May 3 National Insurance, 4a, jhterim May 15 Kaitangata Coal, 2s , annual .. — Dalgety, 2s 6d, interim • , inMay 17 Electro-Zinc (pref.), 9 3-5d Apl. May 29 N.Z. Paper Mills, 9.3-5d, final .. Mosgiel Woollen, 3» 2 2-5d , interim ...... May 13

FROZEN MEAT MARKET (United Press Association.) (By- Electric Telegraph —Copyright.) LONDON April 20. Apr. 8. Apr. 22, Apr. 29. d. a. d. .V.Z. Sheep — (Per lb.) Canterbury ami North Island selected crossbred wethers and maiden ewes — 4S-6fiIb 414 394 57-(541b 3Ts 8V£ G5-72lb 3“a 3*4 .■ North Island: 48-5Cdb 3% 3?i 394 57-G41b .. .. .. .. 3U 3 l i 3)4 63-721b .. 3% 3% 394 Bwes: 3)4 iSlb and under .. .. — 8 40-641b 3 2% 294 G5-72Ib .. — 3)4 3)4 N.Z. Lambs — Canterbury: 594 361b and under .. Sis 6)4 37-421b — 4T4 4?4 43-501b 4% 414 41-8 Second quality: 5)4 Art-rage 321b 5% 5)4 Other South Island Brands— SGlb and tinder — 511 5$i 37-421b 4% 4% 494 43-50Ib 4% 414 414 Selected North Island Brands. Inriudlns Downs — 5% SGlb and under .. .. G G 37-421b ' ' — 4T4 494 43-501b 4% 414 414 Second quality: 514 Average 321b 594 614 Other North Island Brands— First quality: 5)4 SGlb and under .. .. ' 5)4-37-42Ib 494 494 43-501b ■ .. — — Second quality: Average 321b 514 594 5;-a Australian Sheer— . First quality crossbred and/or merino wethers: 40-C51b — 394 314 Second quality: 3)4 30-551b 8% 314 ' 354 30-551b 8 394 Australian Lambs — Victorian — First quality: 6*4 494 SGlb and under .. .. R S7-42lb — 4)4 414 Second quality: 5)4 361b and under .. .. 5(4 514 Other States— First quality: 491 494 301b and under .. .. 5 37-42U) — 414 414 Second quality: 3filb and under .. .. 494 6 5 All States— 594 594 Third quality 594 Argentine Sheep— First quality crossbred wethers: 48-641b 3% 3 3 G5-72U) 314 . — Argentina Lamba— First quality; 514 5)4 361b and under .. .. 5)4 37-42lb 4% 4)4 4)4 43-501b — — *“ • Second quality: «)4 6)4 Average 281b 5)4 Patagonian Sheep— Wethers and/or maiden ewes: Under 501b — — — SO-COlb * — Ewes: 40-501b Patagonian Lambs— — ‘ First quality: 361b and under .. .. — — 37-421b .. .... — — — Second quality: ■ Average 301b .. — — — New Zealand Frozen Beef — 3% 214 1 Ox fores UG0-220Ib) .. 8 ■ Ox hinds (lG0-220Ib) .. 2% 2% 2% Argentine Chill'Jd Beef — 3)4 394 3 Vs V Ox fares (160-2201b) .. ' \ Ox hinds (lG0-2201b) .. 5% 6)4 494 Australian Frozen Beef— 294 2)4 294 1 Ox crops (1001b & under) \Ox crops (orer 1001b) .. 2% 2)4 2V4 bx hinds (IGOIb & under) Ox hinds (over IGOIb) .. 3)4 3% 3 3% 3)4 3 New Zealand Pigs— First quality: 494 Gdt-SOlb f 81.1001b 514 4% 5 4)4 10frl201b 414 4% 4*4 Australian Pigs— ' First .quality: 494 4)4 ,494 4)4 60-lBfllb .. .. .. •• 10l-i201b \ 5 4)4 • 9

Paris— Par. RUGBY, April 28. April 27. April 28. Francs to £ I 124.21 86% 86 7-16 Brussels — Belgas to £1 .. 85 24.32J 24.344 Oslo— Kroner to fi 1 18.189 19.60 19 9-16 Stockholm — Kroner to £1 .. 18.150 19.35 19.324 Copenhagen— Kroner to £1 .. 18.150 22.45 22.45 Berlin — Marks to £1 .. 20.43 14.80 14.704 Montreal— Dollars to £1 4.86 2-3 4.33 4.344 New York — Dollars to £1 4.80 2-3 3.73J 3.78 Yokohama — Pence to yen .. 24.582 15 14 1-16 Hongkong— ! Pence to dollars 24.38 164 16* Bombay— Pence to rupee 18 1-16 18 1-16 Batavia — Florins to £1 12.10 8.72 8.45 Milan— -Lire to £1 .. 82.46 65 9-18 65 15-32 Amsterdam — Guilder to fi 1 12.107 8.45 8.45 Prague— ■ Kroner to £1 .. 1044 1154 114% Geneva— Kroner to £1 .. 25.221 17.60 1T.904 Vienna— Schillings to £1 84.684 33 824 Helsingfors— Marks to £1 .. 193.23 227 226 Madrid— Pesetas to £ 1 25.234 39 15-16 39 13-16 Belgrade— Dinars to £ 1 .. 25.224 255 2524 Athens — Drachma to £X 375 605 . 600 Lisbon — Escudos to £1 110 110 110 Bucharest— \ Lei to £1 931.6 573. 570 Bio de Janeiro — Pence to mllrels 5.890 5% — Buenos Aires— Pence to pesos 47.28 41 — Shanghai— Pence to tael .. _ ' 15 1-16 15i Montevideo — Pence to pesos 33 334 Warsaw — Zlotys to £1 .. — - -

Jan.-June, 1929 Number of banks. .. 354 Deposits. dollars. 98,000,000 July-Dee., 1929 .. 288 136,000,000 Jan.-June, 1930 .. 46^ 209,000,000 July-Dee., 1930 ., 868 655,000,000 Jan.-June, 1931 .. 687 421,000,000 July-Dee., 1931 .. 1611 1,271,000,000 Jan.-Mar., 1932 .. 511 292.000. 198.000. April-June 1932 .. 307 July-Sept., 1932 .. 284 92,000,000 Oct.-Dec., 1932 .. 351 148.000,000