COMMERCE AND FINANCE

Otago Daily Times, Issue 22258, 10 May 1934, Page 14

COMMERCE AND FINANCE

LONDON WO(H. SALES PRICES STEADY (Halt*! Pr«u Association.) : (By Bleetrlo Telegraph—Copyright) • LONDON, May 8. At the wool sales 8920 were offered, including 4193 from New Zealand. About 8895 bale* were sold. There were larger and' better aelection# with fair competition end steady prices, though the withdrawals were rather frequent, especially speculators’ lots. New Zealand scoured halfbred combing, Allendale,” top price 32d, areraged 28Jd; half bred. lamb slipe, ‘Fielding/TBS,” top l"Jd, average X4Jd. Messrs Murray, Roberts and Co., Ltd., hare received the following cablegram from London dated May B:—Compared with opening rate# of preaent London aalas, competition fair; greaay merino, par to 3 per cent, decline; scoured merino, declined 5 per cent.; crossbred, v market firm. AUSTRALIAN WOOL PRICES * • 'CtJalted PrearAasoclatlea.) -- (By Eleetrlo Telegraph—Copyright.) SYDNEY, May 9._ The price# for wool'gold in Australia i« tie 10 months to tha end of April averaged 16d per lb for greasy and 24.1 d for scoured. ouirLooK^TO UNCERTAINTY IN TRADE. (Halted: Press AaseclaUea.) (By Ekietrlo Telegraph-Copyright) FREMANTLE, May 8. Mr W. P. Darereanx, the Londbn representative of the Australian Woolgrowers' Council, who arrived by the Maloja, aaid: “ When I left England conditions in all the Europeon wool markets were somewhat disturbed by reason of Germany’s temporary embargo on imports of raw wool and tops. Until trade; restrictions in European countries are lifted uncertainty in the trade must continue.” OVERSEAS TRADE THE INCREASE IN EXPORTS. Ths Abstract ef Statistics for March provides details of the overseas trade of the last year. In term# of New Zealand currency, and excluding specie, exports for the year ended-March 31, 1934, amounted to <48,043.670, and imports to <28,136,000, the latter figure representing a recorded i value of <21,47-7,833. The excess of exports over imports in New Zealand currency we# <19,007,000, ss compared with <13,431,000 for. the previous year. In terras of sterling the excess of exports oter imports was <15,926,000 for 1933-34, as compared, with <10,828,000 for 1932, 33. Excluding specie, exports in 1933-34 were <M32,400 greater than in- 1032-33, ap increase of 23 per cent. A certain amoqnb of this increase is due to 'increased exchange, and on a sterling: basis the ineirea#* is reduced to <4,157,000 (13 , per cent.) . '■*) ~ , Threerfifthe ef the increase of #8,532,406 during* 1933-34 occurred in wool, the ship? merit# of which increased by 22,205 bales in.’ quantity, and- by £5,186,796 in declared value,' Other notable increases were a* follow#: —Rutter (383,309 cwt), £765,325; casein:' (t600cwt)£53,684; ,’beef (251,*43ewt), 1309.178; pork (240,1 lOcwt), <631,332; sausage casings . (670,6971b)> £198,802; dried milk (4,779,0501 b), <117,965; wheat ' ■ (1,103,541 bushels); £138;769f- calfskins (297,647), £130,343; cattle hide* .(115,618), <188,662; rabbit ■kiita (4,067,409), £164,639;' sheepskins (1,899,101), <648,412; • opossum skins (183,197), <64,805; grass and clover seeds (504S6ewt), <64,777. Gold decreased by 18,096 dunces although the declared value increased by <177,624. Shipments of cheese increased by 71,827ewt, but-the- declared value fell by <342,404. Decreases in both quantity:- and value were as follows; — . Mutton (286,875ewt), <68,745; lamb (198,«36cwt), <1609; apple# (20,104,4561 b); ' <330,592. __________ ' :: . LONDON FRUIT MARKET The Otago- Provincial Fruitgrowers.’ Council, advises/that the High Commissioner's': cabled .report for the- week ended-'May S orf -the London fruit market is as Market quiet.- Hororata and Port Clutmcrs discharging fruit in good condition. prices are:— ' Apples.-7-Cox’s Orange. 8* 6d to 12s 6d;AUriston; Oh-to 10s; Ballarat and Cleopatra, 9s 6d td 11s; Delicious, 8# to 10s fld; Dunn's Favourite,' according to sire, 7s 6d to Tie; Jonathan, 7« 6d to 10s 6d; Worcester Pearraain, 9# 6d; Lord Wolse-' ley and London Pippin, 8s to 9s 6d. • Pears.—Cornice, 12s to 14s 6d; Beurre Bosc. lOs to lss: Conference, 7s 6d to lls 9d: 'Winter Cole, 10s to 13s; Packham’s Triumph, 10s 6d to 12a;, P. Barry, 9s to lls 9d; Beurre Clairbeau. 9s to lls 3d; Beurre Capiamont, 9s to 9s 6d; Duchess, B#.Bd; Vicar of Winkfield, Bs. : . . ■ SALES TAX RECEIPTS BUDGET ESTIMATE EXCEEDED. Sales tax receipts during March amounted to <162,416, an increase of <18,785 over the February figures, according to the latest returns. For the 12 month# ended March 31, sales tax collected .by the .Customs Department amounted to <1.847,273, an excess of about £97,000- over the budgetary estimate of £1,750,600,f0r the year.'

LOCAL AND OVERSEAS MARKETS.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Business in the contributing issue of New Zealand Refrigerating shares was reported on the Dunedin Stock Exchange yesterday at 8# 9Jd, a later offer of 8s 8d failing to attract a seller. A sale of Associated Newspapers at <1 5s was reported. Preferred Taupiri Coals were wanted at <1 3s, and there was an unsupplied buyer of Pukcmiro Coals at <1 4s, The offer for paid-up and preferred Southland. Frosen Meats baa been increased to <3 4s 6d, a seller of the former issuft coming into- the market at £3 oa 6d. A sale of. Wilsons Cements took place at <1 7s 6d. They were later quoted cum dividend at <1 7s 3d (buyer). A parcel of Moonlight Nelson Creeks changed bands at Bd, and there was business in Nokomais at 2s Id. The former shares are now on the market at Bd, and Nokomais are quoted at 2* (buyer) and 2* 4d (seller). Business was done in Oxenbridges at IOJd, further offers of the same figure failing to attract a seller. SALES REPORTED.

Th# following are yesterday afternoon s buying and aeliing quotation*, which are subject to the usual brokerage:— BANKING.

DIVIDENDS PAYABLE, . The following is, a list of stock on which dividends will shortly be payable:—

NORTHERN EXCHANGES iPeb United Press Association.) The following business was done on' ’Changes yesierday:— Auckland.—Sales: Bonds (1940), 4 per cent., <lO5 ss; ditto (1940), 4 per cent., <lO5 ss; ditto (1955), 4 per cent., £106; Stock (1955), 4 per cent., £107; Amalgamated Brick (Wellington), £B9 10?; Gisborne Sheep, <9l 10s; Bank of New Zealand, 61s 6d; New Zealand Insurance, 60s 9d; South British, 795; Pukemiro Collieries, 24s 6d; Northern Steam, Os; New Zealand Drug, 74s 9d; New Zealand Newspapers, 29s 6d; Wilsons Cement, 27s 6d; Mahakipawa, lOd; Waitahu, 4s 9d; Skippers (Is paid). Is; Mount Morgan, 22g 6d.— —Unofficial: Investment Executive Trust (second B), <96; Northern Cooperative Investment Trust, 5s 3d; Silknit, 20s 3d. _ y Wellington.—Sales: Inscribed Stock, 34 per cent. (1939-43). <lO3 17s 6d; Stock, 3i per cent. (1938-52), £lO4 17s 6d; Stock, 4 per cent. (1940), £lO4 17s 6d; Stock, 4 per cent. (1949), <lO4 10s; Stock, 4 per cent. (1955), £lO6 15s: Commercial Bank of Australia, I6s lid; Bank South Wales, £33 ss; Bank of New Zealand, 51s 3d; Bank of New Zealand (long term), 34s 4d; New Zealand Guarantee, 4s 3d (three sales); Auckland Gas, 25s 6d; Wellington Gas, 37s 6d; National Insurance (cum div.), 20s; Gear Meat, 295: Colonial Sugar, £64 7s 6cl, £64 10s; Skippers (2s paid), Is; Nevis Diesel, 5Jd. Christchurch. —Sales: Christchurch City 44 per cent. (1955), £lO3 ss; Bank of New Zealand (cum div.), 51s 6d; Goldsbrough, Mort, 33a 8d (three sales); New Zealand: Refrigerating (10s paid), 8s Sd (two sales) ; Dunlop Rubber, 18s 9d, 18s 8d (two sates): Henry Jones Co-operative (cum div,), . 32s (four sales); Brian, Born (Is paid), Is IOJd (three sales); Golden Point, 2Jd: Goldfields Dredging, sjd (two sales) • King Solomon,- 4s 4Jd; Mahakipawa (pref.), Is 44d (two sales); Nokomai. 2s 7ti, 2s Bd, 2s lOd; Rawang Tin, 9s 3Jd (two sales); Skippers, Ltd. (Is paid), HJd; Skippers, Ltd. (9d paid), 84d; Hatters Flat, 54d (two sales). ■ -'-—■■Sales reported: Union Bank of Australia. £lO 0s Gd; Gear Meat, 29s 2d; New Zealand Breweries. 42s 3d; Okarito, Ss 5d (two saies); ; Skippers, Ltd. (Is paid). Is (two sales). llld: New Zealand Refrigerating (10s paid), 8s 9d; Skippers, Ltd. (9d paid). Old; Oxenbridge Shotover, 10d; Nevis Diesel Electric, 5Jd; Goldfields Dredging, 9d; King Solomon, 4s sd; New Zealand Refrigerating (10a paid), 8s 9Jd; Mahakipawa, lOd, VICTORIAN ELECTRICITY LOAN (United Press Association.) (By Electric Telegraph—Copyright.)' LONDON, May 8. The State Electricity Commission of Victoria is issuing £BOO,OOO 3J per cent, stock at <96, payable in 1954, of which £266,153 is offered to holders of Melbourne Electrics 6 per cents., ,whieh are being redeemed on June I. PRICE OF FINE GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, Mar 8,. Fine gold is quoted at £6 16s lid per ounce, ; , WESTPORT COAL COMPANY INTERIM DIVIDEND. The directors of the Westport Coal Company,. Ltd., have declared an interim dividend of 6d per share,, payable on May 29 to all sliareholders on the register of the company at May TO, 1934, DAIRY PRODUCE The South Island Dairy Association, Ltd., has received the following market report from London: —Butter: Steady, 74s to 755; Danish, 83s. Cheese; Steady, with more .inquiry; white, 445; coloured, 43s to 43s 6d.

FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.)

LONDON METAL MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. May 8. (Received May 0. at 10 p.m.) Tho following are the official metal Quotations:—Ton.

WILSON’S CEMENT. LTD. (Special to Daily Times.) AUCKLAND, May 9. A final dividend of 6d a share for the year ended March 31 has been recomniended by the directors of Wilsons (N.Z.) Portland Cement, Ltd. With the interim dividend of 6d, the distribution for the year is equivalent to 10 per cent., the rate ruling prior to the reduction and return, of capital last year. ADDINGTON STOCK SALE (Peb United i'kess association.) CHRISTCHURCH, May 9. Cold, showery weather prevailed to-day,, and it considerably affected the attehdance at the weekly Addington market. Store sheep were forward in fewer numbers, but there were average to heavy entries of all the other major sections, notably of fat cattle. Store Sheep.—There was a small entry of ewes, which sold at recent rates, but carry-over lambs were down by from Is to la 6d. Forward wethers were in good demand. Good ewe lambs made from 20s 6d to 22s 6d; ordinary, to 15s 9d; medium wethers, 15s"to 16s 6d; ordinary, 12s 9d to 14s 6d; good two-tooth haifbred ewes, to 33s 9d; good sound-mouthed, 18s 6d to 20s; good two-tooth three-quarterbred, to 30s 3d; plain sound-mouthed three-quar-terbred, 14a 6d to 10 s lOd; backward and inferior. 9s to 13s; forward full-mouth haifbred wethers, 20s to 21s; medium full-mouth haifbred, 17s 6d to 19s; medium two-tooth haifbred, to 19s 2d. Fat Lambs.—The quality was very good in an entry of 2400 head, and values were a shade firmer. Extra prime heavy lambs sold to 28s 4d; prime heavy, 24 s 6d to 27s 6(1; prime medium-weights, 21s 6d to 245; light, 17s to 21s.

Fat Sheep.—There was an entry of 5500 head, compared with 6300 last week. Freezing ewes were firmer, but heavyweight wethers were easier. Exporters kept the all-round values up fo the freezing schedule. Extra prime heavy wethers made to 28s 4d; prime heavy, 24s 6d to 20s; prime medium-weight, 22s to 245; ordinary, 19s to 21s; light, 14s to 18s 6d; extra prime heavy ewes, to 25s 7d; prime heavy, 22s to 23s Gd; prime medium-weight, 19s 6d to 21s; ordinary quality, 16 s to 19s; light, 11s to 15s. Fat Cattle.—Except for the primest sorts, tho heavy entry of 650 head, following on one of 735 last week, was difficult to quit. Inferior cattle showed an easing tendency, and the bettor sorts scarcely maintained recent values. Extra good young beef made to 25s per 1001 b; prime, from 21s to 235; heavy, 16s to 17s 6d; secondary, 15s to 17s; inferior, down to 14s; extra prime heavy steers. £9 10s to £l2 2s 6d; prime heavy, £6 15s to £8 15s; prime medium-weight, £6 to £7 10s; ordinary quality, £4 5s to £5 10s; light, to £4; extra prime heifers, to £7 10s; prime, £4 5s to £7; ordinary, £2 15s to £3 15s; light, to £2 10s; extra prime cows, to £8 2s 6d: prime, £3 7s 6d to £5 15s; ordinary, £2 5s to £3 ss: rough, to £2.

.Store Cattle.—Good-class three and four-year Shorthorn steers' were ottered, and sold . well at up to £5. Eighteen months to two-year made from 45k to 555: IS months heifers. 25s to 32s 6d. Fat Pigs.—There wag a large entry in the fat pic section. Prices were easier, and exporters were able to operate fairly freely at the lower prices, with the result that well over 200 head were purchased for export. Choppers made from £2 to £3 18s 4d: baconers, 42s 6d to 47s Od; heavy,-52s 6d to 50s fid; extra heavy, £3 8s 6d to £3 10a 6d; average price per lb, 4Jd to. sd: porkers, 25s to 28s 6d; heavy porkers, 30s 6d to 35s 6d; average price per lb, 4sd to 5Jd. Store Pigs.—There was a small yarding.’ consisting mostly , of large stores, which were in keen demand. Weaners made from 5s to 0s; slips, 8s 6d to 10s: stores, 11s to 16s; large stores, 18s to 225; extra large, 27*.

MINING . SKIPPERS, LTD. SATISFACTORY PROGRESS MADE. (From Odr Own Correspondent.) QUEENSTOWN, May 8. Rumours appear to have gained currency in Dunedin and Invercargill that heavy rains in the Queenstown district had been responsible for such a rise in the Sliotovcr that the work in progress at Maori Point on the claim of Skippers, Ltd., had been washed away. vvHien these rumours were referred to Mr Climie (manager of Skippers, Ltd.) he said that they were absolutely without foundation in fact. Tlie rather frequent rains bad caused rises in the river of two or three feet, which had hampered operations somewhat, but there had been no loss of material or damage of any kind. The putting down of the sheet piling is nearing completion, and the erection of the fluming is also progressing very satisfactorily. If no delays are caused by the weather, with its reaction on the river, the management states that in a month’s time the first paddock will be in working order. BIG RIVER COMPANY The following are the gold returns of Big River Mines, Ltd., for March and April;— Battery Department: One hundred and eighty-nine tons of ore crushed for I>7«z Idwt melted gold. Cyanide Department: One hundred and fifty tons sands treated for, 21oz odwt bullion. Total estimated value, £440. In addition, four tons of concentrates were saved, valued at £IOO. In estimating these values, gold has been taken at 120 s per fine ounce. BELL-HOOPER REPORT The Bell-Hooper Cromwell Gold Company report for the week ended May 4 states: No. 1 Tunnel Workings: Work in this section has proceeded smoothly during the period. Very little of the block N remains to be mined. Values have shown u tendency to become lower as the workings approach the No. 1 main drive. The north-western quarter of- block T is also nearing completion, with lower values in hand. The southern quarters of this block have been opened out on and fair gold has-been obtained in both faces. No. 3 north drive, off No, 1 main drive: The face of this drive is now more than halfway up block W. No. 2 stope drive east ■ will be driven to intersect this drive -to give air ventilation arid to prospect the ground. No. 2 tunnel: Work driving the west cross drive on April 30 with three shifts of two men each, three rays and a-half were worked in the face for an advance of 19 feet. The balance of the time was occupied with timber repairs in the No. 2 tunnel itself. At 146 feet in wash appeared in the back for a depth of six inches. It was dry and well consolidated, and though only giving small prospects of gold was of a satisfactory nature. General: No work was done_ on No. 2 washing plant during the period. We are now waiting for the pipe line, which should come to hand during the coming week from advice received from the makers. An extensive _ development programme is now in hand in both mine areas. The No. 2 tunnel will Jio pushed forward to connect with the No. 1 mine area, and following that the No. 2 mine area will be opened tip systematically. While this will also, make available more ground in the No. 1 mine area. The main diversion tunnel in No. I is almost Through. This will enable areas adjoining the No. 1 main drive to bo mined. The majority of the miners will be employed on these development drives until sucli time as more faces for blocking out are opened up. Talisman dubbo return The talisman Dnbbo Company advised the secretary of the Dunedin Stock' Exchange yesterday that 20 tons of ore had recently been treated for an actual realisation of £312. WORKSOP EXTENDED” REPORT The contractors for the Worksop dredge reported on May 5 that the engine had arrived and was bolted in position. The first and second motion shafts, pulleys, bearings, etc., were in position and bolted down. The main countershaft and clutches and the winch countershaft were fully assembled and bolted down, and the winch was being fitted down in position. < MATAKI GOLD DREDGE The ofticiai return from Mataki Gold Dredging, Ltd., for the week ended May 5 was 47 ounces for 131 hours’ work. SYDNEY STOCK EXCHANGE (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, May 9. Stock Exchange sales:- 4 per cent. 1938 Bonds, £IOO la 3d; Anthony, Hordern, 16s 3d; Dunlop Perdriau. 18s 9d (pref., 36s 2d); Lustre, 23s 6d; Wilcox, Moffliu, 13s, 9d. ADDITIONAL SALES. (United Press. Association.) (By Electric Telegraph—Copyright,) SYDNEY, May 9. ‘ (Received May 9, at 10 p.m.) On the Stock Exchange all fixed income securities found a firm market to-day in sympathy with the upward trend in the value of gilt-edged stocks. Gold shares were steadier, and the turnover was smaller. Following are the additional sales:— Commercial Bank of Sydney, £18; Colonial Sugar, £O4 10s; Australian General Insurance, 13s 9d; Australian Provincial Assurance, 10s 9d; Mercantile Mutual Insurance. 22s 6d; Associated News, 25s l|d; Australian Gas A, £8 3s 6d; ditto D, £8 4s: British Tobacco. 37s 6d: Tooths, 44s 6d; Tooheys, 29s 9d; Dunlop Perdriau, 18s 9d: Wilcox, Mofflin, 13s So; Electrolytic Zinc, 275; Anthony Hordern, 16s 3d: Lustre Hosiery, 23s 6d; John M'Grath, 295; Drug Houses of Australia, 18s: Standard Cement, 17s 9d; Mount Morgan, 235: Broken Hill Proprietary, 48s: South Broken Hill, 72s 9d; Kuala Kampar, 16s 9d: Rawang, 9s 4d; Malim Nawar, 16s 6d; Tanah Biji, 18s. MELBOURNE, May 9. National Bank (£lO paid), £l3 9s; Metropolitan Gas, £l4 Is. LONDON STOCK EXCHANGE (United Press Association.) (By Electric Telegraph—Copyright.) LONDON. May 8. New Guinea Gold, 6s lOJd; Jiulolo. 127 s 6d; Bank of Australasia, £9 10s; Bank of New South Wales, £25 (cx div.); Union Bank of Australia, £7 I2s 6d; National Bank of New Zealand. 655; Bank of New Zealand 4 per cent., £100; Shares, 46s lOJd; New Zealand Loan and Mercantile 4 per cent. Debentures, £BO 10s; Ordinary Stock, £42 10s. DUNEDIN BREWERY AND WILSON MALT EXTRACT COMPANY. LTD. ANNUAL MEETING. The eighth annual meeting of the shareholders of the Dunedin Brewery and Wilson Malt Extract Company Ltd., was held in the Returned Soldiers’ Association Rooms yesterday afternoon. There were present Messrs C. A. Wilson, G, D. Wilson, William Anderson, J. G. D. Dempster, and Dr R. F. Allan (directors), and a fair number of shareholders. The report and balance sheet as presented by the directors were very favourably received by the shareholders.^ The chairman (Mr C. A. Wilson), moving the adoption of the report, expressed regret at the loss of their lellowdirector, Mr K. A. Pyrke. Mr Pyrke, he said, had been a director of the company since its inception and his services had been of great value to the company. The vacancy on the directorate had been filled by Dr R. F. Allan, who, along with Mr J. G. D. Dempster, the retiring director. was rc-elccted to the directorate. The directors’ report showed the company to be in a very good position. The goodwill of tlie business had now been completely written off. all buildings and plant had been written, down, and some £I4OO had been added to reserves. Messrs James Brown and Co were reelected auditors of the company and it was decided to pay a dividend at the rafe of 6 per cent, per annum' for the last six I months. 1

PERPETUAL FORESTS. LTD. (Special to Daily Times.) AUCKLAND, May 9. The accounts of New Zealand Perpetual Forests, Ltd., for the year ended March 31 disclose a net profit of £24,308, compared with £28,459 earned in the previous year. The profit includes interest cu investments and is struck after making provision for depreciation, future planting, and - maintenance costs. The directors recommend a dividend at the unchanged rate of 8 per cent. The dividend will absorb £15,803, and provision for taxation requires £9OOO, leaving £13,740 to be carried forward as against £14,235 brought into the accounts. DOLLAR AND FRANC (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, May 8. Exchange on New York is quoted at 5.10 J dollars to the £ and in Paris at 77 3-16 francs to the £. MORTGAGE BUSINESS ‘ INCREASE DURING MARCH. Mortgage and land-transfer business in the Dominion during March again showed a substantial increase. The total value, of mortgages registered in March was £827,704, 17 per cent, higher than in February, while the consideration in respect of laud transfers registered during •March was £087,552, an increase of 12 per cent, over the February figure. COLOMBO TEA SALE Mr L. M. Wright has received tlie following cabled report on the Colombo tea auction of May 8:—At yesterday's -auction of 2,010,0001 b all grades were irregular and slightly easier. The quality of offerings was plain; 2,990,0001 b are catalogued for sale nextweek.

f s. d. N.Z. RefHg. (cont.) ..... 0 8 1 3 0 1 7 6 Mononlight-Nelson Creek . 0 0 S 1 0 Kokomai 0 o I 0 0 10* RtvanjE Tin (late Tues.) . o 9 4i

Buyer. Seller. £ 8 d. £ s. <1. N.S.W. .. .. .. , S3 10 0 N.Z. (Long D) a. 1 13 9 — Commercial .. .. — 0 17 1 E.S. and A 3 6 0 —* Nat!, of N.Z. .. .. 3 19 0 — 0 Union .. .. .. .- — 10 . INSURANCE National .. .. .. 0 19 9 — Standard .. .. .. 3 1 3 — SHIPPING Huddart, Parker (pref.) 1 5 0 — U.S.S. Co. (pref.) 1 5 6 — COAL. Kaitangata .. .. 1 0 0 1 1 0 Westport 0 14 10 — Taupiri (pref.) .. 1 3 0 ~ Pukemiro .. 1 4 0 — LOAN AND AGENCY. Dalgety and Co. .. 10 1 0 — Goldabrough, Mort 1 13 0 4 Natnl. Mortgage .. - ■ —- 3 0 Wright, Stephenson 0:19 6 (pref.) .. .. .. —. MEAT PRESERVING. N.Z. Rfrigerating 0 18 (paid) .. .... N.Z. Refrigerating 0 : (cont.) .. .. 0 8 8 —• South. Proa. Meat 6 (paid) .. .. .. 3 4 6 8 5 South, Froz. Meat -.(cont.) 1 12 0 —t South. Froz. Meat (pref.) .. .. .. 3 4' « South.Otago Fr«ez-> ■ ing . ... .. .. • — 6 0 Waitaki Farmer* 2 7 « MISCELLANEOUS. Britiah' Tobacco .. 1 18 9 — Brown, Ewing .(pref.) .. .. .. 1 0 0 — D.IU. (ord.) .. . 0 14 0 — D.I.C. (pref.) .. 1 2 0 — 0 Dominion Fertiliser 0 17 7 0 18 Dominion Rubber 1 4 9 — Dunedin-Kaikorai ; Yrama .. .. .. 1 14 0 ■— Duhjop Perdriau Rubber 0 18 11 Electrolytic-Zinc (ord.), 1 6 3 1 6 11 Kaiapoi Woollen (ord.) 0 9 3 0 10 1 Kaiapoi Woollen , (pref.) .. .. .. Milburn Dima ., 1 11 9 0 19 0 Moggiel Woollen 9 15 0 10 5 0 Mount Lyell 1 3 3 1 3 8 N.Z. Drug Go. .. Farmers' Fertiliser 1 14 0 17 6 0 1 15 6 - N.Z. Newspapers I 8 3~ ii N.Zv, Paper, Mills ■—: 6 1 0 Regent Theatre .0 18 1 0 8 , Smith and Smith 0 17 0 ■— Wilsons, Cement i. 1 7 3 — •• BREWERIES. N.Z. Breweries .. 2 1 9 , 2 2 ,.6 Staples .. ... ... 1 7 8 —- Dunedi* .. .. 1 5 0 — Timani .. .. .. 0 7 3 — Tooths .. .. .. .. 2 4 0 — GAS. Christchurch .. .. 1 9 6 —- . OIL. Moturoa .... .. 0 3 3 0 4 3 MINING. Bell-Hooper .. .. — 0 0 10J Bell-Kilgour .. ;. — 0 0 8 Bendigo Goldlight — 0 0 8 Brian Boru .. .. . 0 04 Charleston .. .. ox 3 — Freghford .. .. 0 0 04 0 0 14 Gillespie’s Beach 0 1 10 0 2 i Golden Point .. ;, — 0 0 34 Golden Progress • ■ ■ — 0 1 6 Golden Sands ■ . —- 0 3 3 Goldfields Dredging .. .. .. —- 0 0 10 Kildare .. .... 0 1 10 0 2 0 King Solomon .. ... — 0 4 7 Lawson’s Flat — 0 0 7 Mahakipawa ;. ,.. 0 0 9 0 0 10 Moonlight-Nelson Creek .. .. .. — 0 0 8 Nevis Diesel .. .. 0 0 4 0 0 5 New Cornish Point (pd.) — 0 0 11 New Cornish 64 Point (cont.) .. — 0 0 Nokomai 0 2 0 0 4 Okarito — 0 8 8 Oxenbridge .. .. o o 104 — 6 Paddy’s Point .. 0 2 0 0 2 Skipper* (pd.) 0 0 10 •— 9 Skippers (cont.) 0 0 74 0 0 Waihi Grand 8 5 Junction .. .. 0 4 0 1 Waitahu .. ..... 0 4 7 0 4 10 . GOVERNMENT LOANS. Si p.c. Stock, 1938103 0 1943 .. 0 ■ 34 p.c. Stock. 1939103 0 0 1943 — Si p.c. Stock, 1941103 0 - 1943 0 — 3J p.c. Stock, 19381952 103 10 0 — 3J p.c. Stock, 1939.1952 103 10 0 — 34 p.c. Stock. 19411952 103 10 0 — 4 p.c. Bonds, Jan. 15, 1940 104 10 0 — 4 p.c. Stock, Jan. 15, 1940 104 10 0 — 4 p.c. Bonds, Feb. 15, 1946 104 0 0 4 p.c. Stock, Feb. 13, 1946 .... O o 0 — 4 p.c. Bonds, April 15, 1949 .. .. .. 103 10 0 —— 4 p.c. Stock, April 15, 1949 103 10 0 — 4 p.c. Bonds, June 15, 1955 103 0 0 — 4 p.c. Stock, June 15, 1955 105 0 0 —

Mossicl 'Woollen, interim, 3s 2 2-5d May 14 National Insurance, interim, 4d May 15 Broken Hill Proprietary, inMay 16 terim, Is .. Dalgety and Co., interim, 2i per May 17 cent K.Z. Paper Mills, final, 4 per May 21 cent .. Westport Coal Co., interim, 6d May 29 Bank of New South Wales, May 30 quarterly, li per cent. National Bank of Australasia (f 10), 5s May 30 National Bank of Australasia (£5), 2s 6d May 30 Bank of N.Z.. final, 5 per cent. Jne. 13 Broken Hill South, —. Is fid Jne. 15 Wilsons Cement, final, fid .. .. Jne. — Dunedin Brewery Co., at rate 6 per cent, for 6 months .. .. —*

Paris— Par. RUGBY, May 7. May 8. May 8. Francs to £ 1 124.21 77 7-32 77 9-32 Brussels— Belgas to £ 1 30 21.82 21.85} Oslo— Kroner to £ 1 18.180 19.90} 19.00} Stockholm — Kroner to £ I 18.130 19.40 19.40 Copenhagen— Kroner to £1 18.150 22.39} 22.30} Berlin — Marks tP £1 20.43 12.93} 12.04} Montreal — Dollars to £ 1 4.86 2-3 5.9S 5.092 Now York — Dollars to £1 4.86 23 5.11% 5.11} Yokohama— Pence to yon ,. 24 ( 582 Ui Hi Hongkong— • Ponce to dollar 24.58 16% 17 Bombay— Ponce to rupee 18 3-32 18 3-32 Batavia— Florins to £ 1 12.10 7.50 7.50 Milan— Lire to £1 .. 82.46 59 3-10 60 Amsterdam— Guilder to £1 12.107 7.52} 7.53} Prague— Kronor to £1 1045 122| 122% Aicnfcva — Francs to £ X 25.22} 15.72} 13.74} Vienna— Schillings to £ X 84.86} 28 23 Helsingfors— Marks to £ X 193.23 22C2 2268 Madrid— Pesetas to £1 23.22} 37 9-32 37 3-16 Belgrade— Dinars to £ 1 23.22} 225 225 Athens— Drachma to £X 875 530 530 Lisbon — Kscudos to £1 110 no no Bucharest— Lei to' £X .. 931.0 510 510 Rio de Janeiro— Pence to mllrcls 5.890 4} 4} Buenos Aires— Ponce to pesos 47.23 30} 36} Shanghai—: Ponce to tact , . 15} 13} Montevideo— Pence to pesos 38} 38} Warsaw— Zlotys to £1 -

Copper, spot £.12 1 414 Fall £0 1 1014 Copper, forward .. 32 8 9 Fall 0 1 10’,4 Electrolytic, epot .. 35 6 0 No change Electrolytic, forward ns 10 0 Fall 0 5 0 Wire bars .. .. 35 30 0 Fall 0 5 0 Lead, spot .. .. it i 3 Fall 0 i s Lead, forward 11 s 0 Fall 0 i 3 Spelter, ep<jt 14 10 3 Rise 0 3 0 Spelter, forward .. 35 2 G Rise 0 2 6 Tin, spot .. ,. 235 0 a Fall 0 3 n Tin, forward 232 1 3 Fall 0 7 0 I’Jg iron, home trade 3 7 0 No change Pig Iron, export o a 6 No change Antimony. British 42 10 0 No change Antimony, foreign 20 10 0 No change Oi. Silver, standard 10’id Itlse 1IGd Silver, flno .. .. 20%(1 Iliao 1-X8d Unit. Molybdenite .. .. 110 0 No change Wolfram .. ., '11 X 3 No change