COMMERCE AND FINANCE

Otago Daily Times, Issue 22099, 1 November 1933, Page 12

COMMERCE AND FINANCE

CUSTOMS RETURNS FIGURES FOR OCTOBER. The Customs return* for the month of October, 1933, and for the corresponding month last year, are as follows; — 1933. 1932. | Customs .. .. •• £45,206 Beer 24,427 24,792 Sales tax , 16,462 ml Petrol tax .. .. 13.200 13, ?77 Tyre tax 313 i 777 £99,698 J £86,995 AUCKLAND RETURNS. (Peb Usited Press association.) AUCKLAND, October 31. The highest monthly total for more than three years, that is, since August, 1930, has been reached by the Customs Department. The duties collected at Auckland in October amounted to £211, 3i3, showing a large increase over the collections for October, 1932, which totalled £-158,863. The previous best monthly total this year was for August with £202,803. Every month except June shows an increase over the same month of last year. For the 10 months of the year the Customs duties collected total £1,816,738, an increase of £190,607 on the same period of last year. Motor spirit and tyre duties have yielded £403,864 this year, an increase of £9132. The excise on beer for the 10 months amounts to £103,569, an increase of £sOll. The sales tax since its institution in March has produced £317,496. RETURNS FOR WELLINGTON. (Pee United Press Association.) WELLINGTON, October, 31. Substantial increases are shown in the Customs duties collected &t the Port of Wellington during October, compared with, October, 1932, and the revenue from the sales tax is by far the largest for any one month since the tax came into forde last February. The returns are as follows, those for October last year being given in parentheses:— Customs revenue, £190,166 (£169,716).. Motor spirit, £34,428, at 6d gallon, and £22,960 at 4d gallon (£35,089; £11,696). Tyre tax, £1139 (£1497). Beer excise, £5830 (£5201). Sales tax, £53,953, compared with £49.174 last month. . . . A The totals collected for the last 10 months, compared with those for the same period in 1932, are:— .... Customs revenue, £1,595,861 (£1,714,259). Motor spirit, £564,095 (£480,312). Tyre tax, £13,954 (£15,485). Beer excise, £43,073 (£49,024). FIGURES FOR CHRISTCHURCH. (Per United Press. Association.) CHRISTCHURCH, October 31. f*. The Customs revenue in _ Christchurch again showed an increase during the month cl October. The following are the comparative e^: ~ october . October, 1933. 1932. Net Customs .. .. *61,979 £58,862 Beer duty .... 8,845 6,663 Motor spirit tax.. 14,975 13,613 Tyre duty 825 _ 702 Sales tax 20,231 The following are the figures for the 10 months of 1933 and 1932. Customs ' *695 803 £604,300 Beer duty .... 60,748 65,735 Motor spirit tax .. 167.517 x 160,427 Tyre duty J,7g J- 198 Sales tax • • 146,538 WOOL. TALLOW. AND HIDES SHIPPING FREIGHTS REDUCED. (Peb United Press Association.) WELLINGTON, October 31. ' The Overseas Shipowners Allotment Committee announces reductions in freight on the following classes of general ‘Tool and sheepskins, reduced to 15 Slipe P wooi! > '’reduced to 64s per ton. Slipe wool, reduced to 1 S’Washed wool, reduced to 1 3-16 d per lb. Tallow, reduced to 64s per ton weight. Pelts, reduced to 80s 9d per ton weight. Casings, reduced to 85s 6d per ton reduced to 89s 9d per ton meats, reduced to 47s 6d per ton measurement. Meat extract, reduced to 123 s 6d per ton measurement. , All the above rates are plus the usual primage and are subject to current conditions regarding exchange. These reduced rates come into effect on all shipments made in vessels sailing finally from the Dominion on and after November 1, 1933. * The shipowners state that they have already made reductions on other classes, of cargo totalling £300,000 per annum, in an endeavour to assist the New Zealand producers, and the only hope they have of minimising these sacrifices is by greatly increased trade between the United Kingdom and the Dominion. \ . BURNS. PHILP DIVIDEND (Per United Press Association.) . WELLINGTON, October 31. Burns, Philp (Sydney) have declared an interim dividend of Is per share at the rate of 10 per cent, per annum for the half year'ended September 30. The dividend will be, payable on November 15.

LOCAL AND OVERSEAS MARKETS,

THE SHARE MARKET DUNEDIN STOCK EXCHANGE A sale of contributing New Zealand Refrigeratings at 9» lid was recorded on the Dunedin Stock Exchange yesterday, the market closing with sellers asking the same figure and buyers offering 9s 9d. Two parcels of Waitahus also changed hands at 6 S Bd, the closing buying and selling quotations being 6s 7d and 6s 8d respectively. For National Insurances buyers were prepared to give 18s od, cum dividend, but sellers did not come forward. Mosgiel Woollens were inquired for at £9 6s, but there was no answering quotation from sellers. A slight improvement in the demand for New Zealand Drugs was noticed, buyers offeuing £3 lOs. Sellers, however, required 9d above that figure. New Zealand Breweries also met with a slightly stronger inquiry, buyers offering £1 16s 3d. which was Is below sellers’ smallest requirements. _ Buyers of Waihis were prepared to give £1 6s 3d. cum dividend, but sellers would not take less than £1 7« 6d. Okaritos were offered for sale at 10s, but buyers would not give more than 9a 9d. SALES ON ‘CHANGE. £ s. d. N.Z. Refrigerating (cont.) .. 0 911 Waitahu (two) 0 6 8 SALE REPORTED. N.Z. Breweries .. •• .. .. 116 6 The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage: — BANKING.

DIVIDENDS PAYABLE, The following is a list of shares on which dividends will shortly be payable: — D.I.C. (pref.), 6d, final .. .. Nov, 1 D.I.C. (ord.), 3d, final ~ ~ Nov. 1 Waihi, Is interim (approx.) .. Nov. 1 Electrolytic Zinc (pref.), Is, 7 l-sd, final Nov. 2 Bank of Adelaide, 2s, interim .. Nov. 9 N.Z. Paper Mills, 7 l-sd, interim Nov. 10 Broken Hill Prop., Is, interim Nov. 15 National Insurance, sd, final ~ Nov. 20 National Bank of Australasia (£5), 2s 6d, interim .. .. .. Nov. 29 National Bank of Australasia (£10), sa, interim Nov. 29 Bank of N.Z., Is, interim .. .. Dec, 9 Bank of N.Z. (long D), 9d, interim Dec. 9 NORTHERN EXCHANGES (Pen Uniticu Press Association.) The following business was done on ’Changes yesterday:— Auckland. —Sales: Stock (1938-52) 34 per cent., £lOl 12s 6d; Stock (1955) * per cent., £lOl 15s; Auckland Gas (1935) 6J per cent., £103; Bank of New Zealand, 47s 8d; South British Insurance, 725; Auckland Gas, 23s 6d; Bycroft, 40s 3d; New Zealand Refrigerating (cont.), 9s 9Ad; Wilsons Cement, 275; Kildare, 2s 3|d., Unofficial list: Claude Neon Lights, 40s 6d; Investment Executive Trust (B), £9B- Peter’s Ice Cream (Auckland), 17s 6d; Sun Newspapers, 3s lid. Wellington.—Sales: Inscribed Stock 4 per cent. (1955), £lOl 15s; New Zealand Guarantee Corporation, 8s 3d (two). Gear Meat, 31e 9d. Christchurch. —Sales on Change: New Zealand Government 4 per cent Inscribed (1955), £lOl 7s 6d: Commercial Bank of Australia, 17s; Commercial Bank of Sydney £l7 15s; Bank of New Zealand (cum div.), 475, 47s Id, 47s 2d, 47s 4d; National Insurance (cum div.), 18s 9d; Gomsbrough, Mort, 29s lid; New Zealand Refrigerating (10s paid), 9s 9d (three). Js lOd; Kaiapoi Woollens (17s. paid), 8s; Monteith’s Brewery, 10a; Tooths Brewery, 42s 6d;'Beath and Co., 28s 6d; Mount

Lyell, 23s (two); Alexander Mines (13s 6d paid), 17s 3d (two); Bell-Hooper (9cl paid), IOJd (two), lOd; Golden Point, 2d; New Cornish Point (6d paid), 7sil (four). Sales reported: Christchurch Trams 4i per cent (Oct,, 1934), £99 15s; Goldsbrough, Mort, 30s; New Zealand Refrigerating (£1 paid), 19s Bd. AUSTRALIAN STOCK EXCHANGES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, October 31. (Received Oct. 31, at 9.30 p.m.) Stock Exchange operations are slackening with a tendency to irregularity n> retail trading shares, but gold and pastoral shares are generally firmer. The following sales were made: — National Bank (£5 paid), £6 12s 6d; Colonial Sugar. £62; Associated News, 20s 3d (pref., 20s 3d); British Tobacco, 38s lid; Dunlop Perdriau, 19s 9cl; Goldsbrough, Mort 30 s 4id; Anthony Hordern, ]3s 3d; David Jones. 35s 3d; Wilcox, Mofflin. !0s 2d; Henry Jones. 33s 6d: Electrolvtic Zinc, 26s 6d: Morris Hedstrom, 19s 6d; Carlton Brewery, 455; Tooths, 43s 3d; North Broken Hill, 87s 6d; South Broken Hill. 65s 3d; Bulolo Gold (New Zealand delivery). £5 2s; Mount Morgan, 52s 3d; Kuala Karapar. 12s. Commonwealth Bonds (4 per cent.) —1938. £lO4 17s 6d; 1941. £lO5 7s 6d: 1947, £lO5 Is Sd; 1930, £lO5 ss; 1953, £lO5 10s; 1955. £lO6 2s 6d; 1957, £lO6 10s; 1959. £lO5 ss; 1961. £lO5 15s. MELBOURNE. October 31. National Bank (£5 paid). £6 13s Cd: Metropolitan Gas, £l2 15s: Goldsbrough, Mort. 30s 4id; Herald and Weekly Times, 48s: Mount Lyell, 235; North Broken Hill. 88s. BULOLO SHARES (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, October 30. Bulolo shares. 83s sid. , CHICAGO WHEAT MARKET (United Press Assor'itlon.) (By Electric Telegraph—Copyright.) NEW YORK, October 30. (Received Oct. 31, at 9 p.m.) Chicago wheat. —December,' 88$ cents per bushel; May, 90$; July, 86J; New York cash, 96. ' THE PRICE OF GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, October 30. Gold is quoted at £6 11s 2idper oz. LORNEVILLE STOCK SALE (Special to Daily Times.) INVERCARGILL, October 31. Owing to the yardings being in excess of requirements, fat sheep prices dropped 2s, and for the greater part of the sale fat cattle values receded by 15s to 20s a head at the Lorneville stock sale today. Fat Sheep.—Prime quality woolly wethers realised up to 275; medium weights, from 20 s to 255; prime woolly maiden ewes, up to 225; prime heavyweight ewes, 18s 6d to 20s 6d; lightweight, down to 15e; prime shorn wethers, up to 225; medium quality, from 18s to 20s; light and unfinished, down to 15s; prime shorn maiden ewes, up to 18s; prime heavy ewes, from 14s to 16s. Lambs. —The demand was good, best sorts bringing up to 245; good quality medium-weight, 20s to 22a; lighter, 17e to 18s; and unfinished, down to 15s 6d. Fat Cattle. —At the start prices were from 15s to 20s lower than at the previous sale, but later there was a firming tendency. Extra prime quality bullocks sold from £9 to £9 ,17s 6d; prime quality. £8 to £8 15s; handy weights, £6 15s to £7 10s; lighter, down to £5; extra Erime heavy cows, up to £8 7s 6d; prime eavy sorts, £6 5s to £7; good quality, £4 15s to £5 15s; prime heifers, up to *7; handy weights, £5 to £6. SHEEPSKIN. SALE The Dunedin Woo) Brokers’ Association (Donald Reid and Co., Ltd.; Wright, Stephenson, and Co., Ltd.; National Mortgage and Agency Company, Ltd.; Stronach, Morris, and Co., Ltd.; New Zealand Loan and Mercantile Agency Company, Ltd.; Otago Farmers’ Co-operative of New Zealand, Ltd., and Dalgety and Co., Ltd.) reports as follows: — Keen competition was displayed by the usual full bench of buyers at the fortnightly sheepskin sale held All fine wool skins maintained the satisfactory rise registered at recent sales, while crossbreds moved into line with an advance of from id to id per lb. All inferior grades were from par to id dearer than last sale. The following is the range of prices:—Halfbred—Full wools, to lld; t three-quarter wools, to 10id; half-wools, to 9d; quarter-wools, to 6Jd. F. crossbred—Full wool, to 9|d; three-quarter-wools, to 9id; half-wools, to 6|d; quarterwools, to sd. Crossbred —Full wools, to 7d; three-quarter wools, to s|d; half-wools, to 4|d; quarter-wools, to 4d. Dead—Halfbred, to 9Jd; crossbred, to 6|d.' Hoggets —Halfbred, to 9d; i. crossbred, to Bsd; crossbred, to 7d. Lambs—Halfbred, to B|d; crossbred, to 6|d. Merino—Full wool, to 9|d; half-wools, to 7W; quarterwools, to sd. -

COMPANY BALANCE SHEETS

THE NATIONAL BUILDING SOCIETY. No. 1 GROUP. Net 1933. Subscriptions. Advances. Revenue. Profit. £ £ £ £ Sep. 30 .. 15.580 15.551 480 220 The annual transactions of this group have produced a net profit of £220, expenses amounting roughly to 50 per cent, of the income. The balance on profit and loss, which is increased to £4076 by the net profit, is further swelled by a transfer of £277 from reserve, making an aggregate of £4353 to bring forward to the current year. Subscriptions paid (£1927) are practically balanced by advances made (£1934). The amount, outstanding on loan is reduced by £2490 to £18.581, of which £IB4O, or approximately one-tenth, is not yet taken up. Money in bank on fixed deposit and current account aggregates £2498. while temporary advances on shares stand as high as £505. Assets aggregate £21,772, of which the surplus of £4353 represents one-fifth. The proportion oi profit per share works out at £0 13s 4d, as against £5 15s 8d and £1 4s lid for groups 2 and 3 respectively. No. 2 GROUP. Net 1933. Subscriptions. Advances. Revenue. IToflt, ‘£t £ £ Aug. 31 .. 17.019 20,439 433 127 In this group n smaller revenue is faced with larger expenditure, so that the net profit of £127 is near!" 'IOO under that of No. 1 group. When a transfer of £220 is made from reserve the balance brought forward to the current year is raised to £4426. . It would seem that prevai ing conditions have had more effect here. Subscriptions cancelled and withdrawn amount to £4178, so that in spite of payments of £2536 the total subscriptions are down to £17.019. On the other side, advances to members at £20,439 have slightly risen. Advances made (£2745) somewhat exceed the subscriptions. In subscriptions and repayments a sum of £5149 has been received, against which advances made and subscriptions withdrawn and cancelled come to £6923. The resultant deficiency will entail considerable recourse to the liquid funds if all advances are taken up. A sum of £2041 is held in bank, of which £ISOO is on fixed deposit and £5lO is also earning interest. By the time the outstanding liability of £1240 is met there may b e further funds forthcoming to swell the cash in bank. No. 3 GROUP.

Net 1933 Subscriptions. Advances. Revenue. Profit, £ £ E £ AU!t. 31 .. 20,914 15,311 892 580 As the youngest of the three, this group shows a larger revenue and net profit than the other two. For the same reason, the balance on profit and Joss account carried to the current year is less. When a transfer of £299 from reserve is added to the net profit the balance is swelled to £2393. Subscriptions paid total £5365, while repayments come to £llO6. Against the aggregate of £6471 there are advances of £3669 and subscriptions cancelled amounting to £299. There is thus a considerable margin on the income side which accounts for the bank balance reaching £10,282. The problem that has to face the management of finding sufficient employment on adequate security for the available funds must be accentuated at the present time. Of the advances made to members, there was a sum of £2a76 not taken up when the books closed. _ Although the work of this society is keenly susceptible to prevailing economic conditions, its work appears to be well maintained. Ten appropriations, amounting to £BOOO, have been made available during the past year. FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.)

THE DOLLAR LONDON, October 30. Exchange on New York is quoted at 4.79 dollars to the £l. MOSGIEL WOOLLEN COMPANY. ANNUAL REPORT. The annual report of the Mosgiel Wooben Factory Company, Ltd., which will be presented at the annual meeting of shareholders on November 14, states, inter alia: — Although the depressed marketing conditions have continued during the past year the directors are glad they are able to show a satisfactory result. After payment of the interim dividend on April 6 last, absorbing £3815 4s, providing £SOOO for depreciation, and transferring £2OOO to the reserve, there remains a balance of £16,535 12s 7d, which the directors recommend should be dealt with as follows: — That a final dividend be paid of 4 per cent, and a bonus of 2 per cent., absorbing £5722 16s, making 10 per cent, for the year. After payment of this dividend there remains £10,812 16s 7d to be carried forward. In view of this year being the company’s diamond jubilee year, and the sixtieth year of Sir John Roberts’s chairmanship, the directors further recommend that a cash bonus of 7s 6d per share be paid out of reserves. The directors also report that a bonus will be paid to the staff and the employees of the company. DALGETY AND CO. FINAL DIVIDEND. (Per U'vrrrt) I’urss Assoc. vrtonJ WELLINGTON, October 31. The New Zealand superintendent for Dalgety and Co., Ltd., has received advice from the company’s head office in London that at the annual meeting on November 23 the directors will recommend the declaring of a final dividend of 24 per cent., making (with the interim dividend already paidl 5 per cent, for the year ended June 30 last. The dividend will be payable on November 27. The directors propose transferring £IO.OOO to the Staff Provident Fund and carrying forward the sum of £131,900.

MINING

GILLESPIE’S BEACH. ANNUAL MEETING OF COMPANY. The first annual meeting of Gillespie’s Beach Gold Dredging Company was held in the Public Trust Buildings last night. Mr Joseph Fowell (chairman of directors) occupied the chair, and there was a large attendance of shareholders. In moving the adoption of the annual report and balance sheet, the chairman said that shareholders might have thought that they to have started dredging before this date. He referred to the steps leading up to the company deciding to install an electric plant, instead of steam or power by Diesel eu gine, and said that they had had delays in shipping the necessary material to the coast and in other directions. As regarded the plant, they now had a complete machine, and even if all the parts were not new, their dredge would give service equal to that of a new dredge. The claim was of three miles, and he did not think that one yard of it was not gold-bearing, thou, h, of course, the returns would fluctuate. In a short time work would be in p cog re,■As, and he hoped that thereafter they would have steady returns of gold and regular dividends. Personally, he would be disappointed if they could not return about 5 per cent, per month to shareholders. Mr Harry Poppelwell seconded the motion. He said he had visited the claim some time ago, and two things had impressed him in connection with it. First, the fact that the area should prove quite easy to dredge; and, secondly, the great amount of work that had to be done in connection with the claim and the manner in which the difficulties had been overcome. Mr Poppelwell said that Mr M. Sullivan, the local director on the claim, deserved great praise for the work he had carried out. He knew that if the shareholders could see the locality they would be pleased with the claim. It was a nice dredging proposition. The motion was then put and carried. Mr- Sullivan, in giving some details of the claim, said that it was only in October of last year that active operations had been commenced. The sawmill had cut approximately 80,000 feet of timber for use on the dredge and for the building of houses. The dredge was finished, arid the power would be turned on about November 10. — (Applause.) Work in securing gold should commence in about the second week of November. In answer to questions, the chairman said that the dredgable area of the claim was about 310 acres. Mr A. Williamson, formerly dredge master of the Nevis dredge, had been appointed dredge master. The ordinary yardage of dredging was 60 yards an hour, but they intended to work a double yardage, and expected to have a minimum yardage of about 130 yards an hour. All accounts up to the present had been paid, and they would have sufficient capital in hand when a start was made to dredge. He did not think there was any danger of not receiving returns right from the start. DIRECTORS. It was decided to reduce the number of from six to five, and Messrs Vernon Smith and A. J. Campbell, the retiring directors, were re-elected unopposed. The remuneration of the directors was fixed at £275. Messrs W. E. C. Reid and Co. were appointed auditors, INCREASE OF CAPITAL. On the motion of Mr N. K. Sligo, it was decided unanimously to increase the capital of the company from £30,000 to £35,000 by the creation of 100,000 additional ordinary shares of Is each. Mr W. R. Sligo moved a vote of thanks to the directors, the motion being carried by acclamation. AMALGAMATED KAWARAU COMPANY. The Amalgamated Kawarau Gold Mining Company, Ltd., has issued a prospectus and the application list for shares will open to-day and will remain open until the amount required is subscribed. Shares to the value of £IO,OOO have already been underwritten in Melbourne, and applications for shares have been received from Perth, Adelaide, Sydney, Brisbane, and Hobart, while one or two large blocks have been applied for in New Zealand. There is every indication that the issue will shortly be fully subscribed, BELL-KILGOUR COMPANY. The mine manager of the Bell-Kilgour Gold Mining Company, Ltd., reports for the week ended October 28 on the following development work: —The main drive has been extended 20ft, chiefly in hard clay, and is now in a distance of 432 ft. The east crosscut has now been driven to the boundary, a''distance of 26ft, He is now working back west and has driven 15ft in a westerly direction. All this work is through full face of wash giving fair dish prospects of fine gold. The northwest crosscut was advanced 22ft for the week on an uneven floor which seems to be dipping again. Values were irregular. Some dish prospects gave a good sample of coarse gold. OXENBRIDGE SHOTOVER GOLD. Mr Edmund Oxenbridge, of Queenstown, has been appointed to the directorate of Oxenbridge Shotover Gold, Ltd. Mr Oxenbridge has had a long experience of the Shotover River, and of the company’s claim in particular, and his services will be of great benefit to the company. CENTRAL SHOTOVER MINING COMPANY. The secretaries of the Central Shotover Gold Mining Company, Ltd., advise that 490 z of gold were won as a result of the washing from the top box. This makes a total of 1630 z, won from the paddock since sluicing operations were commenced. The wash-up is not yet completed, this recovery being only a partial clean-up. SYDNEY WOOL SALES (United Press Association.) (By Electric Telegranh—Copyright.) SYDNEY, October 31. (Received Oct. 31, at 11.15 p.m.) At the wool sales 13,122 bales were offered and 12,743 were sold, while 3080 were disposed of privately. The market was again very firm, with a hardening tendency for all the best descriptions. The demand was most pronounced in the case of fine quality lines, with competition very strong from Yorkshire, France, and Japan. \ Greasy merino made a new Sydney record of 271 d for seven bales from Delungra. BRADFORD TOPS MARKET (United Press Association.) (By Electric Telegraph l —Copyright.) LONDON, October 30. Bradford reports more business, with a tendency against buyers. LONDON WHEAT MARKET (United Press Association.) (By Electric Teleg’aph—Copyright.) LONDON, October 30. The American developments exerted little influence on the wheat market, but in consequence of the Canadian Government’s rumoured withdrawal of support Manitobas declined 6d. Australian old crop was more sparingly offered, the Far East preferring to await the American programme of cheap offers from the Pacific Coast. Kinglud, 22s 6d. Part of King Edgar, 21s 6d. Parcels were moderately supported. Ex King Edgar, 21s 6d and 21s 7Jd. Futures—London: December. 20s Id: February. 20s 4d; April, 20s lOd. Liverpool; October. 4s 6d; Decern- j ber, 4s 7£d; March, 4s 103 d; May, Ss Old.

LONDON METAL MARKET

(United Press Association.) (By Electric Telegraph—Copyright) LONDON. October JO. (Received Oct. 31, at 9 p.m.) The following are tbs official quotations:Ton. Copper, spot £33 4 4(4 Bias £0 8 7(4 Copper, forward •• „ 33 6 10(4 Rise 0 6 0 electrolytic, spot .. .. 38 10 - 0 Fall 010 0 Electrolytic, forward .. 87 10 0 No change Wire bars .. .. „ 37 10 0 No change Lead, spot .. „ .. 11 17 6 Fall 0 13 Lead, forward .. .. 13 0 0 Fall 0 1 S Spelter, spot 16 2 3 Rise 0 3 6 Spelter, forward •• .. 16 5 0 Biss 0 18 Tin, spot .. .. ~ ~ 228 6 3 Rise 018 0 Tin, forward 225 5 0 Rjse 016 3 Pig Iron, home trade.. 8 2 6 No change Pig Iron, export .. .. 212 6 No change Antimony, British .. SO 10 0 No change Antimony, foreign •. 22 17 6 No change Unit. Molybdenite 3 10 No change Wolfram 18 6 No change Os. Sliver, standard .< .. 18(4d Rise 3-16 d Sliver, fine »• •• •• 19 11-lCd Rise S-lCd

MELBOURNE WOOL SALES

(United Press Association.) (By Electric Telegraph-Copyright.) MELBOURNE, October 31. At the wool sale 10,400 bales were offered. 99 per cent, of the offerings being sold. The market was very strong at firmer ratee. New records for the season were established. Greasy merino sold to up to 23d per lb, and scoured to 3 Id.

Buyer. Seller, £ s. d. f s. d. N s.W 34 4 0 N.Z +t2 6 6 — Commercial .. .. 0 16 9 0 17 2 E.S. arid A. 5 10 0 10 “ 6 10 4 0 8 INSURANCE. National t+0 18 6 — New Zealand .. .. 2 14 6 — Standard — 3 1 0 * SHIPPING. Howard Smith .. 0 11 9 — U.S.S. Co. (pref.) 1 4 0 — COAL. Kaitangata .. .. 1 2 3 — Westport .. .. .. 0 13 6 0 13 11 LOAN AND AGENCY. Dalgety and Co. .. Goldsbrough, Mort 10 1 5 9 0 6 1 10 3 Natnl. Mortgage .. 2 13 0 — Natnl. Mortgage (B issue) .. .. 1 8 0 — N.Z. Guarantee Corp 0 8 2 Wright, Stephenson 10 (pref.) 0 14 — MEAT PRESERVING. N.Z. Refrigerating (paid) 0 19 6 — N.Z. Refrigerating (cont.) .. .. .. 0 9 9 0 9 11 South. Froz. Meat (paid) 2 15 6 — South Otago Freezing 4 18 0 5 s 0 MISCELLANEOUS. British Tobacco .. 1 17 6 —• Brown, Ewing (pref.) — 1 1 0 Bruce Woollen i (ord.) 0 10 0 0 11 6 Bruce Woollen (pref.) .. .. . 1 0 0 Crystal Ice .. .. 1 9 0 — D.I.C. (ord.) .. .. tfO 13 0 .— D.I.C. (pref.) .. Dominion Fertiliser ffl 2 0 — 6 0 13 9 0 14 Electrolytic Zinc 6 15 6 (pref.) .. .. .. Ttl 14 1 Electrolytic Zinc 6 (ord.) 1 5 6 1 0 Moegiel Woollen .. 9 . 6 0 — M'Leod Bros 28 0 0 — Mount Lyell .. .. N.Z. Drug Co. ., 1 2 10 1 3 2 3 10 0 3 10 9 N.Z, Paper Mills ffl 7 9 1 8 6 Regent Theatre .. Wilsons Cement 0 19 6 — • 8 (10s paid) .. .. 1 6 9 1 0 BREWERIES. N.Z. Breweries .. 1 16 3 1 17 3 Staples .. .. , .. 1 7 0 — Dunedin .. .. .. 1 4 0 1 5 0 Timaru — 0 6 6 OIL. Moturoa .. — 0 3 6 MINING. Waihi .. .... ttl 6 3 1 7 6 Waihi Grand Jctn. 0 3 10 — Mahakipawa .. .. — 0 0 3 Kildare 0 2 0 0 2 4 0 9 9 0 10 0 Paddys’ Point .. 0 5 8 New Cornish Point (Is paid) .. .. 0 1 G 0 1 2 New Cornish Point n (6d paid) .. .. 0 0 7 0 0 Golden Progress if — 0 1 6 King Solomon d 3 0 0 3 1 Golden Point .... 0 0 1 0 0 2 Gillespie’s Beach 0 2 1 0 2 2 Waitahu .... .. 0 6 7 0 6 8 Big River .. . • 0 1 4 0 1 bi Mount David .. .. — 0 2 6 Fresh ford .. .. — 0 0 Upper Shotover .. — 0 1 9 Lawson’s Flat 0 0 4 0 0 7 Centra] Shotover 0 0 11 0 1 1 Nevis Diesel 0 0 8 0 0 11 Bell-Kilgour .. .. 0 1 4 0 1 5 Bell-Hooper .. .. 0 0 10 0 1 0 Oxenbridge .. .. — 6 0 0 Aotearoa 0 0 — 6J Bendigo Goldlight — 0 0

GOVERNMENT LOANS. 4 p.c. Bonds. Jan., 1940 101 15 0 — 4 p.c. Ins., Jan., 1940 101 15 0 — 4 p.c. Bonds, Feb., 1946 101 10 0 — 4 p.c. Ins., Feb., 1940 101 10 0 — 4 p.c. Bonds, April, 1949 100 10 0 — 4 p.c. Ins., April, 1949 100 10 1 — 4 p.c. Bonds, June, 1955 101 5 0 — 4 p.c. Ins., June, 1955 101 5 0 — +t Cura dividend. '

RUGBY, October 30. Paris— Francs to £ 1 Par. 124.21 „ Oct. 28. 81 5-32 Oct. SO. 80 19-32 Brussels— Belgas to £1 35 22.76} 22.61} Oslo— Kronor to £1 18.180 19.90 19.90 Stockholm— Kroner to £1 18.150 19.39} 19.39} Copenhagen— Kroner to £ 1 18.150 22.40 22.40 Berlin— Marks to £1 .. 20.43 13.29} 13.19} Montreal — Dollars to £1 4.86 2 -3 4.80 4.85} New York— Dollars to £1 4.80 2-3 4.71} 4.78} Yokohama— Pence to yen 24.582 14 15-32 14} Hongkong— Pence to dollars 24.58 18.1-16 17% Bombay— 18 18 Pence to rupee — Batavia— 7.85 7.80 Florins to fil 12.10 Milan— Lire to fil .. 82.46 60} 59% Amsterdam — 12.107 7.87 7.82 Guilder to £ 1 Prague— Kroner to £1 104J 107 108 Geneva — 16.40 16.29 Francs to £1 25.22} Vienna— 29 29 Schillings to £1 84.86} Helsingfors— 2261 226} Marks to £1 193.23 Madrid— 37 11-16 Pesetas to £1 25.23} 87 15-16 Belgrade— 235 228} Dinars to £1 25.22} Athens— 570 Drachma to £ 1 375 — Lisbon — 106} Escudos to £1 110 .105} Bucharest— 535 Lei to £1 931.6 537} Kio de Janeiro— 4% 4% Pence to mllreis 5.890 Buenos Aires— , 44 Pence to pesos 4T.28 43} Shanghai— 15% Pence to tael .. — 15% Montevideo — 36 36 Pence to pesos Warsaw — Zlotys to £ 1 — —