COMMERCE AND FINANCE

Otago Daily Times, Issue 21982, 17 June 1933, Page 8

COMMERCE AND FINANCE

BANK OF NEW ZEALAND PROFIT OF NEARLY £600.000 ANNOUNCEMENT OF DIVIDENDS. (Peb United Pbess Association.) WELLINGTON, June 16. The .directors of the Bank of New Zealand, submitting the balance sheet and profit and loss statement for the year ended March 31 last, state: The profits after providing for expenses of manage- , merit, all bad and doubtful debts, and other contingencies and after making provision for the annual donation to the

DAIRY PRODUCE Messrs Dalgety and Co., Ltd., advise having received the following cablegram from their head office fu London, dated June 15:— The butter market is slow. The cheese market is slow. /Danish butter, 92s to 945; New Zealand finest butter, 79s to 81s; Australian finest imsalted butter, 81s to 83s; Australian finest salted butter, 7fis to. 81s; Australian G.A.Q. butter, 76s to 78s. Australian cheese, white, not quoted: Australian cheese, coloured, not quoted; blew Zealand cheese, white, 48s: to 495; New Zealand cheese, coloured, 53s to 545: Canadian cheese, white, 64s to 68s; Canadian cheese, coloured, 66s to 70s; Canadian cheese, c.i.f.t 56s to 58s. Messrs A, -S. Paterson and Co.. Ltd., are in receipt of the following cablegram from' London: — Butter—Market dull; poor demand; easier. Danish, market weaker,'92s; New Zealand, 81s; Australian, 80s, 81s. Cheese—Market quiet; buyers inactive. White cheese, 48s, 48s 9d; coloured, cheese, 535, 53s 9d. MINING CENTRAL SHOTOVER. The secretaries of the Central Shotover Gold Mining Company, Ltd., report that sluicing operations on the claim acquired adjoining the Sugar Loaf claim on Big Beach were commenced on, Tuesday, June 6. Construction ; work at Deep Creek is still proceeding, and a small staff is attending to. .the construction of placings for the pipes for the main pipe line. KING SOLOMON DEEP LEAD. (Peg United Press Association.) INVERCARGILL, June 16. ' The King Solomon wash up for the Week totalled 65 ounces. FRESHFORD DREDGING COMPANY. IPeb United Press Association.) INVERCARGILL, June 16. The Freshford Gold Dredging Company’s wash-up for 140 hours’ work totalled 13J ounces. NEW GUINEA GOLDFIELDS. (Special to Dailt Times.) AUCKLAND, June 16. The opinion that New Guinea is likely to prove one of the wealthiest gold-pro-ducing countries in the world was expressed by Mr L. A. Decoto, a noted American mining engineer, who passed through Auckland by the Mariposa on his way to Australia. Mr Decoto surveyed and reported on the Bulolo goldfields in 1929 and is at present on his way to investigate possible new fields and report on their prospects. " In various parts of New Guinea there is some of the most promising ground I have ever seen,” M r Decoto said. “As yet there has hardly been more than a scratching of the surface and considerable developments can be expected in the future. The rough and hilly nature of the country was *a difficulty at the start of operations hut that has been effectively solved by the use of air transport.” BUTTER AND CHEESE (United Press Association.P (By fcltctrlc Telegraph—Copyright.) LONDON, June 15. Butter is quietly steady; Danish, 92s to 945. Choicest salted New Zealand, 81s to 82s; Australian, ,80p to 81s. Unsalted. 2s premium. Cheese is firm. New Zealand: White, 48s 6d to 495.

LOCAL AND OVERSEAS MARKETS.

DUNEDIN MARKETS WHEAT, OATS, ETC. Little interest is now bein* shown in the milling wheat market. In the outlying districts an occasional stack is being threshed, but it is difficult to place this wheat with millers, who have secured practically all their requirements for the year. There should be very little surplus milling wheat in this district, as millers have purchased the bulk of the lines submitted to them. The prices for June delivery are 3s 6d for I uscan, 3s 8d for Hunters, and 3s lOd for Velvet, f.0.b., growers’ nearest port. _ Inquiries are already being received tor seed wheat for sowing next season. Indications point to a fairly large area being sown, but this will depend on the weather conditions from now onwards. The local fowl wheat market remains steady, with best quality quoted at 3s od. sacks extra, ex store. The shipping prices from Canterbury have eased slightly, recent sales there having been on a basis of 3s 5Jd per bushel, f.0.b., sacks extra. North Island merchants are buying from hand to mouth, as they do not anticipate that prices will rule much higher from now onwards. No further shipments of surplus milling wheat have been made by the Wheat Pinchase Board. Owing to the lighter sowing of autumn wheat the board is now in dined to wait, in order to secure more information regarding the yields for the incoming season, before making furthei sales for shipment abroad. Millers’ prices for flour, etc., are as follows: — , ~ Flour: 2001 b. £l4 2s; 100’s, £l4 17a; 50’s. £ls 2s; 25’s, £ls 7s. Bran, £5 per ton. ,

Pollard, £6. , Oatmeal: 2001 b, £l6; 255. £lB. The oat market continues quiet. With little business going through. Canterbury .merchants, who were the chief operate) s last month, have now withdrawn from the market. The recent advance in price brought forward more oats in Canterbury than it was thought were available, anti shipping values eased as a consequence. To-dav’s quotations for A’s vary from 2s 4d, f.0.b., s.i., Bluff, to 2s 6d, f.0.b., s.i., at ports farther north. B Grade are quoted at 2s to 2 S 2d, f.0.b.. s.i. North Island merchants are only buying pats in small quantities. The price tor A Garton’s in the country is Is 7d, sacks extra, on trucks, with B’s 3d to 4d per bushel 6 With the broken weather which has been experienced both in this district and m Canterbury, few consignmentsi of cliatl have been coming to hand. This has caused a temporary shortage, and tor good, sound lines prices have firmed. These lines are worth £4 per ton, sacks extra, ex truck, Dunedin. The demaru. is confined chiefly to this quality, any lines of medium and poor chaff being difficult to sell. . ... The bulk of the potato crops in this district have now, gone out of first hands. The yields have proved rather disappointing. being considerably less than those of’■ last season._ The quality of the tubers varies, and in a number of im stances farmers have sent in badly-gradea lines with a high percentage of small potatoes. These lines are almost unsaleable. the demand being confined to freshly-dug potatoes, free from small tubers and from «arth. Best quality are worth up to £3 10s per ton, sacks included, for truck lots. After a long period of quietness, shipping inquiries are coming to hand from the North Island, but most of the business is being done from Titnaru and Lyttelton, where the general quotation is on a basis of £4, f.o.b;-, s.i., for prompt delivery. The seed markets continue firm, with a fair amount of business going through, iExport inquiries are still being received for some lines, and sales to overseas have been reported. The cocksfoot market remains firm, and up to 7Sd per lb, f.0.b., Lyttelton,"is now being asked for standard Akaroa. With the low prices'ruling at the commencement of the season the same quantity of cocksfoot was not .saved, and it is now anticipated that there will be a shortage of supplies of this seed. Dogstail also continues firm, and the same may be said of white clover and cowgrass. The white clover crop was affected by the dry weather conditions which prevailed in the autumn. Wholesale prices are as follows: — . Chaff; Best quality, £4 per ton, sacks extra, ex truck; £4 10s ex store. Potatoes. £3 10s per ton, sacks included, ex truck. , „ Dairy butter: Milled bulk, 9d per lb; •separator, 9d. Bacon, lOd per lb. , Ham: Ordinary, Is; boneless, Is 2d per Onions: Canterbury, 6s 6d per cwt. Eggs: Stamped, Is 5d per dozen: case, ' Is 4d. , Eggs dropped in price during the week. FRUIT report. A better demand has set in for choice quality apples. Inferior grade are, however, in heavy supply, and for these low prices are ruling. Cookers are in fair supply, and the market is unchanged, _ Island oranges are off the market until the end of the month, but Californian Valencies are in good supply. North Island Poorman oranges and lemons are in better supply. Small lots of Christchurch and local hothouse tomatoes are still reaching the market. . . p, , There is no indication yet that toe embargo on the importation of citrus fruits from Australia may be lifted, but it is said that there is a possibility of the grower® in some districts being allowed to send fruit to the New Zealand markets. Should this take place it would prove a great help.to both merchants and retailers in the Dominion, as at the present time there is but little variety of fruit on offer. Australian mandarins, pines, passions, melons lemons, navels are badly missed in the New Zealand markets. Cauliflowers continue in short supply. There is a good demand for choice snvdy cabbage. Marrows are in short supply, but pumpkins are plentiful. Carrots and swedes are in heavy supply. Parsnips have a better demand. Lettuce are hard to place. Poor quality celery is unsaleable. Wholesale prices are ns follows: Apples: Jonathans, 4s to 6s; Delicious, 5s to 7s; cookers, 3s to 4s 6d. Oranges; Californian Valencias, to 40s per case. Poorman oranges, 7s 6d to 9s. Christchurch hothouse tomatoes, 6d to 8d; local hothouse, 7d to 9d. Grapes: Gros Colmar. 2s to 2s 3d. Lemons: New Zealand-grown, best quality, to 25s per case. Pears: Dessert, 2s to 3s per half-case; cookers, to 2s.

Bananas: Ripe, to 18s per case. Rhubarb, to 2id per lb. 'New, Zealand melons, to Id per lb. Californian grape fruit, 40s per case. Lettuce: Choice, to Is 6d per case. Marrows, to 8s 6d per cwt. Pumpkins. 6s to 7s per cwt. Carrots, Is 9d to 2s per sugar bag. Cauliflowers: Choice, 5s 6d to 8s 6d ■per sack: others, Is 6d to 3s. Cabbages, 2s 6d to 5s per sack. Potatoes, 3s Cd to 4s per cwt. Parsnips, to 2s 6d per sugar biig. Swedes, to Is per sugar bag. Artichokes. Id per lb. LONDON MARKETS (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 15. Trading is more aptive for wheat cargoes. Prices are maintained, and parcels are unchanged. Trading is small, hutures: London —June, 21s Hid; September, 2-e 4Jd; December. 23s Id. Liver poo—July os ] Jd; October. 4s 3gd; December 5s sid. The spot trade is quiet. Australian (ex ship). 26s 9d and 275. Flour is dull. Australian (ex store), 20s ahd 20s 6d. Oats.—Easier and neglected. Peas and beans arc quiet. MOUNT LYELL SHARES ' (United Press Association.) (By Electric Telegraph—Copyright.) " LONDON, June 15. Mount Lycll shares are quoted at 18s lid.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE BUSINESS OF THE WEEK. The following is a list of the business recorded ou the Dunedin Stock Exchange

The volume of business recorded on the Dunedin Stock Exchange during the past week has been a little greater than in the previous week or two, and the business has concerned a greater number of •stocks than usual. Commercial Banks were turned over at 16s 2d, and are now wanted at that figure, with no seller forward. Unions had business at £8 Gs. and up to £8 8s has since been offered without attracting a seller. There has been a fairly steady demand for insurances, and Nationals are being asked for at I6s lOd, with a seller in the market at 17s 3d. Westport Coals were dealt in at 11s 9d, further offers of the same amount finding sellers firm at 12s 3d. Dalgetys have an unsupplied buyer forward .at £8 15s.

Interest in New Zealand Refrigeratings has been maintained, and the fully-paid shares have changed hands at 14s lOd and 155.. The contributing shares were sold at 6s 24d, and several parcels were sold at 6s 3d, Towards the end of the period there was business at 6s 2d, and the shares are now available at that figure, with a buyer forward at 6s Id. Ordinary D.T.C. shares were sold at 10s 9d. and the preferred issue was dealt in at £l. There was no inquiry for these shares at the close of the market. After business at Us 9d and 12s, Dominion Fertilisers are now being inquired for at 11s lOd. Donaghy’s Rope were turned over at £1 and preferred Electrolytic Zincs had business at £1 lie 6d. The latter shares are wanted at £1 lls 3d, with, a seller asking 4d more. Business was done in Milburn Limes at £1 8s 6d. and the closing quotations! were 6d on either side of that figure. ' Mount Lyells were sold at £1 2s 6d. and there is now a seller forward at £1 2s Bd, $ Two parcels of New Zealand Paper Mills changed hands at £1 7s, which is the figure now asked by sellers. The shares are wanted at £1 6s. New Zealand Newspapers have appeared on the market, and business has been done at £1 ss. The closing offer of the same figure found sellers asking 3s more. A parcel of New Zealand Breweries was sold at £1 13e. the best subsequent offer being fl 12s 9d. The mining section has been comparatively steady. Waihis were sold at £1 2s 4d. They have a buyer now at fl 2s. sellers demanding 5d more. Okaritos were sold at lls during the week, but they are now ex dividend, and are wanted at 10s 4d, with sellers asking 10s 6d. Blackwaters changed hands at £1 3s Bd. further offers of fl 3s failing to attract a seller. Three sales of Gillespies were effected at Is Bd. and another parcel changed hands at Is 7d. The best offer now is Is 6d, with a seller at Is 7d. ,Waitahus have eased considerably since the commencement of. the period when they were selling at 7s ,Bd. They were later disposed of at 7s 6d, and more recently there have been seven sales at 7s Id. The closing offer of 6s lid found sellers firm at 7s Id.

Big Rivers were turned over at la 6d. and Nokomais had business at 4s 9d and 4s lid. At the close of the market 4s 6d was ’being offered, sellers then askinc 4s lOd. Freshfords realised lOd, and there has been business in Lawson’s Flats at Is 6d. The latter are now wanted at la 7id, sellers asking Id more. Parcels of 4 per cent. Stocks for 1940, 1946, and 1949 were sold at £IOO 10s. SALES ON ’CHANGE.

UNOFFICIAL STOCK. Bell Hooper 0 1 2J The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual broker-

DIVIDENDS PAYABLE. The following is a list of shares on which dividends will shortly be payable: — Australian Glass, ls2 2-sd, final June 22 Broken Hill South, Is .. .• June 23 Bank of N.Z., Is, final •• •• June 24, North Broken Hill, Is •• •• J une 29 Goldsbrough, Mort, 6d, final .. June 20 British Tobacco, 3 3-sd, interim June 30 N.Z. Breweries, 8 2-sd, final .. July National Mortgage (£2 paid), Is. interim Jul y 1 National Mortgage (£1 paid), 6d, interim July 1 N.Z. and River Plate, 7 X-sd, interim July 1 NORTHERN EXCHANGES (Peu United Press association.) The following business was done on ’Changes yesterday:—. Auckland.—Sales: Auckland City' (1949), 54 per cent., £lOl 10s; Mount Albert Borough (1959), 6 per cent., £99; Commercial Bank of Australia, 16s (two parcels), 16s Id; Bank of New Zealand, 47s 6d (two parcels); National Insurance, 17s; New Zealand Insurance, 49s 9d (two parcels) ; Goldsbrough,' Mort, 26s 9d, 275; New Zealand Guarantee Corp., 6s 3d; Auckland Gas, 23s 3d; Contributing, 17s 3d; New Zealand Breweries, 335; Electrolytic Zinc (pref.), 31s 3d; New Zealand Paper Mills, 275; New Zealand Refrigerating (con.), 6s Id, 6s 2d;'Wilsons Cement, 31s 10 Jd; Woohvorths, Sydney (new pref.), 25s 6d; Blackwater, 23s lOd; Golconda, lOd; Waihi, 22s 3d. Unofficial: Werc’s (5s paid), 4s sd. Wellington.—Sales: New Zealand Breweries, 32s lOd, 335; Bank of New Zealand, 47s 6d; Alexander Mines, 11s; Central SJiotover, 124 d. 12Jd (all late Thursday); Inscribed Stock, 4 per cent. (1940), £IOO 10s (two parcels), £IOO 12s 6d; Bank of New Zealand (long term), 31s (two -parcels); Gear Meat, 31s 3d (two parcels); New Zealand Refrigerat-

ing (contr.), 6s; New Zealand Breweries, 33s (two parcels); Golconda Mine, Is Id.

Christchurch.—Sales: Commercial Bank of Australia, 16s Id (two parcels), 10s 2d (five parcels), 16s Id (four parcels); Commercial Bank of Sydney, £l6 18s, £l6 18s 6d (three parcels); Bank of New South Wales, £3l 17s 6d; Goldsbrougb, Mort (cum div.), 27s 3d, 27s sd, 27a 3d (five parcels); New Zealand Refrigerating (10s paid). 6s 2d, 6s Id (two parcels); Westport Coal, 11s lid (two parcels); Bcath and Co. (Is paid), 4s; Electrolytic Zinc (ord.), £1; Moturoa Oil, 2a (five parcels); Mount Lyell, fl 2s 4d (two parcels); Central Shotover (Od paid), Is Id; Gillespie’s Beach. (0d paid), Is 7d, Is 74d; Golden Dawn, Is 9d; Lawson's Flat (Is paid), Is Bd, Is 7Jd; Mahukipawa, 14d: Mahukipawa (pref.), 3d. Sales reported: Commercial Rank of Sydney, £l6 18s 6d (two parcels).- Lute sales 15th: Gear Meat. 30 s lid. 30s 9d; Electrolytic Zinc (ord.). 20s - 3d: Unlisted Aotearoa Gold, 2s 2d.

LONDON STOCK EXCHANGE

(United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 15. The following are the latcc-t quotations of Government securities compared with the prices ruling last week:— Last week. This week.

FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) _i BUGBT, June IS.

LONDON METAL MARKET

(United Press Association.) (By Electric Telegraph—Copyright.) LONDON. Juno 15. (EecelrcJ Juno IC. at 8 p.m.) The following are the official Quotations:—

BANK OF ENGLAND RETURN (United Press Association.) (By Electric telegraph—Copyright;) LONDON. June 15. The following is the Bank of England return:— ISSUE DEPARTMENT. Note issue in circulation .. £375,021,029 Banking Department .. ... 72,099,866 £447,120,895 Government debt .. .... £ 11,015,100 Other Government securities 243.^85,705 Other securities 1,756,381 Silver coin , 3,642,753 Gold coin and bullion .. .. 187,120,895 ' ' £447,120,895 BANKING DEPARTMENT. Proprietors’ capital .. .. £ 14,553,000 Rest 3,313,607 Public deposit 11,611,297 Other deposit (bankers) 104,802,420 Other accounts .. .. .. .. 38,675,231 Seven-day and other .bills .. 1,322 £172,950.877 Government securities .. .. £75,408,503 Discounts and advances .. 12,961,256 Securities 11,361,691 Notes in reserve 72,099,866 Gold and silver coin .. ~ 1,125,501 £172,956,877 The proportion of reserves to liabilities is 47.20 per cent. Short loans arc quoted at 11-16 per cent.; three months’ bills at i per cent. PRICE OF FINE GOLD (United Preps Association.) (By Electric Telegraph—Copyright.) LONDON, June 15. Fine gold is quoted at £6 2s 2d per ounce. WELLINGTON HIDE SALES (Special to Daily Times.) WELLINGTON. June 16. The Wellington skin and hide sales today were largely attended and competition was keen. Sheepskins advanced by Id to per lb, and salted skips 3d to 6d per skin. Cow hides were up by id to id. light ox by id, and medium by 4d to |d. Heavy hides showing substance advanced by jd to £d.

BRADFORD MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 15. The Bradford market is firm. Quotations: Seventies, 27d; sixty-fours, 26d; sixties, 24Jd; fifty-sixes, 19Jd; fifties, forty-sixes, lOd; forties, 9d. P. AND O. SHARES (United Press Association.) (By Electric Telegraph—Copyright.) v LONDON, June 15. P and O shares are quoted at 16s 6|d. AUSTRALIAN MARKETS (United Press Association.) (By Eleotrlo Telegraph—Copyright.) MELBOURNE, June 16. Wheat: 3s 1R Flour: £8 7s 6d. Bran and pollard, £4 15s. Oats: 2s 3d to 2s 31 cl. Barley: English, 2s 3d to 2s 6d. Maize: Queensland, spot. ss. Onions: Weak. Brown Spanish, £3 5s to £3 10s; Globes, £2 to £2 10s. AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, June 16. (Received June 10, at 8.5 p.m.) On the Stock Exchange the market was without much change, steadiness being its main characteristic. The turnover was large. Sales.—Bank of New South Wales, £32; Commercial Bank of Sydney, £l7 2s 6d; National Bank (£lO paid), £l3 2s;' Colonial Sugar, £57 2s 6d; Howard Smith, 10a 3d; Associated News. 9s; Associated News (prof.), 19s lid: Australian Gas. £7 4s: British Tobacco. 35s 6d; Australian Glass. 49s 6d: Goldsbrough. Mort, 27s 6d; Commonwealth Wool. 16s; Fairymead Sugar. 28a 41d; Electrolytic Zinc, 20s 3d: Nestles (pref.), 34s 6d; Meggitt’s. 19s 3d: Dunlop Perdriau, 18s 10Ad; Willcox. Mofflin. Ss 2d; Standard Cement, 13s 8rl ; United Provisions, 8s 3d; Tooths, 37s 9d; Toohey's, 235; 4 per cent. Commonwealth Bonds, 1938. £lO2 ss: 1941, £lO3 3s 9d: 1944, £lO3 2s 6d; 1947, £lO3 ss; 1950. £lO3 !2s 6d: 1953. £lO4 ss: 1955. £lO2 7s 6d; 1957, £103; 1959, £lO3 6s: 1961. £lO3 10s. SYDNEY, June 16. Morning Sales.—-4 per cent. Ronds—--1941, £lO3 3s Od; 1944. £lO3 2s 6d; 1957. £103; 1961. £lO3 7e 6d; Bank of New South Wales, £32; Commercial Bank of

Sydney ; £l7; Australian Gas (A). £7 4s; Tooheys, 235: Tooth’s, 37s 9d; Associated News, 9a 4d; Associated News (prof.), 19s 3d; Broken Hill Proprietary. 34 s 3d: Colonial Sugar, £57 10s; Fairymend Sugar, 28s 4Jd: Goldsbrough, Mort. 27s 3d; Wilcok, Mofflin, 8g 2d. MELBOURNE, June 10. (Received June 16. at 8.5 p.ra.) Sales- —Goldsbrough, Mort, 27s 4Jd; Huddart, Parker, 31s; Dunlop Pordriau, 19s; Electrolytic Zinc. 20s 6d; Herald

and Weekly Times, 56s 3d; Herald and Weekly Times (pref.), 325; Broken Hill Proprietary. 34s 4Jd; South Broken Hill, 55s 9d,

Provident Fund and also £615,469 9 for bonus to staff, are .. 7 From'which has to be deducted interest on 21,199 8 11 guaranteed stock .. .. Leaving balance of profit £594,270 0 8 for the year .. .. •• To which:has to be added the balance brought for9 ward from last year .. 395,056 5 Making a total of .. £980,326 6 5 From which has been paid— Dividend on Pref. A £50,000 0 shares • • 0 Interim dividend on C long • term mortgage 7,031 0 shares 5 Interim dividend on D long - term mortgage 17,578 shares 2 6 Interim dividend on 39,062 Pref. B shares .. .. 10 j 0 Interim dividend on Ord. shares 234,3*75 0 0 Making a total of .. £348,060 17 6 Leaving available for dis£641,279 8 11 tribution This the directors propose should be disposed of as follows: — Dividend on C longterm mortgage shares at 6 per cent, per 7,031 0 annum .. .. . • 5 Dividend on D long-term mortgage shares at 7i 17,578 6 per cent, per annum 2 Dividend on Pref. B (making £123,437 10s 84,375 for the year) .. .. 0 0 Dividend at the rate of 5 per cent, on ord. shares (making £421.875 for the year. equal to Hi per cent.) 187,500 0 0 Leaving balance to be car344,795 ried forward 1 5 £641,279 8 n

during the past week: — f S, d. Commercial Bunk (two) 0 16 O Union Bank .-.i 8 6 0 Westport Coal .. (paid) .. 0 11 9 N.Z. Refrigerating 0 0 14 15 10 0 N.Z. Refrigerating (cont.) .. Five 0 0 6 6 2i 3 0 0 2 D.I.C (ord.) .. 0 10 9 D.I.C. (pref.) .. 1 0 0 Dominion Fertiliser • • . . 0 11 9 0 12 0 Donaghy’s Rope . a # 1 19 0 Electrolytic Zinc (prer.) I 11 6 Milkurn Lime .. 1 8 6 Blount Lyell I 2 6 .X.Z. Paper Mills (two) .. 1 7 0 X.Z. Newspapers (two) 1 5 0 X.Z. Breweries 1 13 0 Wnihi 1 2 4 Okaritn (three) 0 11 0 Golden Point .. 0 0 n Blaekwater 1 3 8 Gillespie's Beach (three) . 0 0 0 1 I 8 7 Waitahu (four) 7 8 0 7 6 Sevei 0 7 I Big River 0 1 5 Xokomai .. .. 0 4 9 ’ Two 0 4 11 Freshford .. .. 0 0 10 Lawson's Flat ,. 0 1 0 1 p.c. Stock (1940) 100 10 0 4 p.c. Stock (1946) 100 10 0 4 p.c. Stock (1949) . . .. 100 10 0

£ 6. d. N.Z. Refrigerating (cont.) 0 6 2 Black water 1 3 8 Gillespies 0 1 7 SALES REPORTED. Commercial Bank (two) 0 16 2 N.Z. Refrigerating (cont.) 0 6 3 N.Z. Paper Mills .. 1 7 0 Golden Point 0 0 U Waitahu (seven) .. 0 7 I 0 1 5 4 p.c. Stock (1946) 100 10 0

age;— BANKING. Buyer. Seller. £ 8. d. £ 8. d. N.S.W 31 10 0 —. N.Z 1 7 3 1 8 0 N.Z. (long D) .. 1 10 0 — Commercial .. .. 0 16 2 — Natl, of N.Z. .. 3 16 0 3 17 0 Union 8 8 0 — INSURANCE. National .. .. 0 16 10 0 17 3 New Zealand .. .. 2 9 6 — South British .. .. 3 6 0 — Standard .. .. 2 12 0 — SHIPPING. Huddarl. Parker (pref.) 1 2 3 — P. and 0. Deferred Stock 1 0 0 — U.S.S. Co. (pref.) I 2 3 — COAL. Kaitangata .. -. 1 0 3 — Westport .. .. .. 0 11 9 0 12 3 .LOAN AND AGENCY. Dalgcty and Co. .. 8 15 0 — Goldebrough Alort 1 7 0 — National Mortgage I 19 0 2 5 0 National Mortgage (B issue) .. .. 1 1 0 — N.Z. Guaran. Corp. 0 6 0 — Perpetual Trustees 2 9 0 2 12 0 Wright, Stephenson (ord.) 0 10 0 — Wright. Stephenson (pref.) 0 11 6 — MEAT PRESERVING. Gear Meat .. .. 1 10 3 — N.Z. Refrigerating (paid) 0 14 10 — N.Z. Refrigerating (cout.1 0 0 1 0 6 2 South. Froz. Meat (paid) 2 4 0 — MISCELLANEOUS. Australian Glass .. 2 7 0 2 10 0 British Tobacco .. 1 14 0 I 15 6 Broken Hill South — 2 15 6 Broken Hill Propy. ' 1 13 0 — Bruce Wool, (ord.) — 0 10 0 Bruce Wool.(pref.) — 1 0 0 Dominion Fertiliser 0 11 10 — Dominion Fertiliser (debs.) 100 0 0 — Dominion Rubber 0 14 0 — Stock Exch. Propy. 1 17 0 Dunlop Perd. Rubber .. .. .. 0 18 3 — Electrolytic Zinc (pref.) 1 11 3 1 11 7 Electrolytic Zinc (ord.) 0 19 6 1 0 3 Kaiapoi Woollen (pref.) 0 6 6 — Milburn Lime .... 1 8 0 1 9 0 Mosgiel Woollen .. 8 0 0 — M'Leod Bros. 24 0 0 — Mount Lyell — 1 2 8 N.Z. Drug Co. .. — 3 4 6 N.Z. Paper Mills 1 6 0 i 7 0 Smith and Smith 0 10 6 — Wilsons Cement .. 1 11 3 — N.Z. Newspapers 1 5 0 i 8 0 BREWERIES. N.Z. Breweries .. 1 12 9 — Staples 1 6 0 — 'booths 1 16 6 i 18 0 MINING. Kawarau 0 0 5 — Waihi 1 2 0 i 2 5 Mahakipawa 0 0 1 0 0 3 Kildare — 0 2 5 Okarito * # 0 10 4 0 10 6 Paddy’s Point — 0 5 9 King Solomon 0 1 7* 0 i 9 Golden Point .. .. 0 0 1 0 0 2 Blackwater .. .. 1 3 0 •— Gillespie's Beach 0 1 6 0 1 7 Waitahu 0 p 11 0 7 1 Big River .. .. 0 1 6 Nokomai .. • • 0 4 6 0 4 10 Central Shotover 0 0 11 0 1 04 Lawson’s Flat 0 1 74 0 1 84 Golconda (6d pd.) 0 0 — GOVERNMENT LOANS. 34 p.c. Ins., 19381943 100 0 0 34 p.c. Ins., 19381952 100 0 ' 0 — 34 p.c. Ins., 19391943 100 0 0 — 34 p.c. Ins., 19391952 ., 100 0 0 — 3i f,.a. Ins., 19411943 100 0 0 — 3-i p.c. Ins., 19411952 100 0 0 — 4 p.c. Bonds., Jan., 1940 100 10 0 — 4 p.c. Ins., Jan., . 1940 100 10 0 100 15 0 4 p.c. Bonds, Feb., 1946 100 10 0 — 4 p.c. Ins., Feb., 1946 — 100 10 0 4 p.c. Ine., April, 1949 — 100 10 0 ** Ex dividend.

£ 8. a. £ «. d. Consols 73 0 0 '74 0 0 Fundinp Loan. 4 p.o.. 1900-90 109 15 0 110 10 0 Assented War Loan .. .. 89 2 6 09 10 l) Conversion Loan, 3% p.o. 99 5 <i 99 12 Victory Bonds. 4 p.c. (ex dlv.) 108 7 6 108 17 6 C'wealfh 5 p.c.. 1945-47 .. 104 5 0 104 12 fi C’wealth, 6 p.o.. 1045-47 102 7 6 102 10 0 C’woalth. 3V4 p.c.. 1030-37 .. 100 3 0 100 ? Victoria, 3 p.c.# 1029-40 .. 87 5 87 2 (3 Victoria, 3<4 p.o.. 1929-40 .. 93 2 8 93 5 0 Victoria. 514 P.o,. 1030-40 .. 101 17 0 101 18 9 Victoria. 5 p.o.. 1032-42 101 7 6 101 15 0 Victoria. 4% p.o 1940-60 .. 100 7 e 101 5 0 N.S.W.. 4 p.c.. 1033 .. .. 103 5 0 103 5 0 N.S.W.. 3 , p.c.. 1035 .. .. 00 15 0 09 12 f» N.S.W.. 314 p.o.. 1030-40 .. 91 2 fi 01 S ci N.8.W.. 614 CO.. 1030-40 .. 101 10 0 101 12 0 N.8.W.. e p.c.. 1930-40 09 15 0 99 15 0 Queensland. 5 p.o. Stock, redeemable 1040-60 102 17 6 102 15 0 Queensland. 3 p.c. 1922-47 .. 87 2 6 87 8 0 Queensland, 8 p.c.. 1029-40 .. 103 7 6 103 12 .6 New Zealand. 414 P.c.. 1945-57 108 0 0 108 2 6 New Zealand, 3% p.c.. 1940 .. 08 15 0 90 10 0 New Zealand. 3 p.c.» 1945 93 0 0 93 2 0 New Zealand. 6 p.o.. 1930-51 104 5 0 104 0 0. S.A.. 314 P.o.. 1039 .. .. 09 7 6 90 15 0 8.A., 3 p.c., 1916 or after .. 72 7 0 72 15 0 S.A.. 614 p.c.. 1030-40 .. .. 103 5 0 103 6 0 Tasmania. p.c.. 1930-40 .. 08 12 6 98 15 ft Tasmania. 3 p.o.. 1910-40 .. 97 17 6 06 0 0 Tasmania, 614 p.c.. 1930-50 .. 104 5 0 103 2 c W.A.. 314 p.c.. 1920-38 .. .. 99 10 0 99 12 6 W.A.. 3 p.o., 1015-35 .. .. 99 1 s 99 2 6 W.A., 6 p.c.. 1030-40 .. .. 100 10 0 100 B 0

Paris— • Par. June 14. June 15. Francs to £1 .. 124.21 86 86 3-16 Brussels — Belgas to £1 .. 85 24.22} 24.27} Oslo— Kroner to £1 .. 18.189 19.75 19.75 Stockholm— Kronor to B 1 .. 18.150 19.42} 19.45 Copenhagen— Kroner to £1 .. 18.150 22.42} 22.42} Berlin— Marks to £1 .. 20.43 14 11-32 14.30 Montreal — Dollars to £1 . . 4.86 2-3 4.56} 4.54} New York — Dollars to £1 .. 4.86 2-3 4.10 4.06} Yokohama— Pence to yen 24.582 15} 15 3-32 Hongkong— Pence to dollars 24.58 17 1-16 17 1-16 Bombay— Pence to rupee — 18 5-64 18 5-64 Batavia— Florins to £1 12.10 Milan— Lire to £1 .. 82.46 64 15-16 642 Amsterdam— Guilder to £1 12.107 8.42} 8.43} Prague— Kroner to £1 .. 1045 113% 1133 Genova — Francs to £1 .. 25.22} 17.53 17.56} Vienna— Schillings to £1 84.86} 31 31 Helsingfors— Marks to £ 1 .. 193.23 226} 226} Madrid— Pesetas to £1 25.23} 39 11-16 39 20-32 Belgrade— Dinars to £1 25.22} 250 250 Athens — Drachms to £1 375 590 590 Lisbon—. Escudos to £1 110 110 110 Bucharest— Let to £1 931.6 570 570 Rio de Janeiro— Pence to mllrels 5.890 4% 4% Buenos Aires— Pence to pesos 47.28 41} 413 Shanghai— Pence to tael .. , 15 5-10 15 5-10 Montevideo — Pence to pesos — 34 84 Warsaw— Zlotys to £1 .4 - “

Copper, epot Ton. . £33 15 7% Fall £0 3 114 Copper, forward .. . . 35 18 0 Fall 0 5 0 Electrolytic, spot .. . . 40 5 0 Fall 0 5 0 Electrolytic, forward • . 41 5 0 Fall 0 S 0 Wire bare 0 Fall 0 5 0 Lead, epot .. .. . . 13 0 0 Fall 0 3 9 Lead, forward .. . . 13 0 3 Fall 0 3 8 0 Fall 0 1 3 Spelter, forward .. . . 10 10 0 Fall 0 3 0 Tin. epot . . 221 12 6 Fall 0 5 0 Tin, forward .. . . 221 12 6 Fall 0 B 0 Stlrer. standard .. . Silver, One Oz. . 10 0-I0d . 2U4d Ulse Rise Hd Hd