COMMERCE AND FINANCE

Otago Daily Times, Issue 23054, 3 December 1936, Page 6

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Business was fairly brisk on the Dunedin Stock Exchange yesterday, a good number of parcels of shares changing hands on ’Change, and a further considerable quantity of business being reported. Contributing New Zealand Refrigeratings were dealt in at 10s, a further sale at the same figure being reported. The closing b»y in | and selling quotations were 9s lid and 10s Id respectively, the market showing an advance of 4d as compared with the previous day. Five sales of Dunlop Rubbers at 17s 9d and_ one at I>s 8d were recorded, the closing buying and selling quotations remaining practically unchanged at 17s 8d and 17s 9d. Hume Pipes changed hands at £1 Is, four safes at £1 Os lid also being reported Buyers’ final offer on 'Change was £1 Is, sellers asking twopence extra. Mort’s Docks were the subject of business at 13s Bd, buyers offering the same figure at the close of the market, with sellers asking 13s lOd. Three sales of Mount Lyells at £1 17s took place, buyers’ final offer being twopence below that figure.

** Ex dividend. DIVIDENDS PAYABLE

Sales Reported After Last Cali N.Z. Refrig, (cont.) .... 010 0 National Insurance, .. .. 01» 4 The following are yesterday afternoon’s buying and selling quotations, v£ich are subject to the usual broker- . BANKING

NORTHERN EXCHANGES AUCKLAND

WELLINGTON Sales on ’Change

CHRISTCHURCH Sales on Change

The following is a list of shares on which dividends will shortly be payable:— Claude Neon Lights—Final, 4 per cent., making 8 per cent, per annum .. .. .. Dec. 2 Swan Brewery, Perth —Halfyearly ord., 2s and bonus North Broken Hill—4s a share Dec. 8 N.Z. Breweries percent Dec. 9 Placer Development—lnterim 50 cents (Canadian) .. .. Dec. 10 Bulolo Gold—lnterim, 1 ,dol. 40 cents (Canadian) .... Dec. 10 Golden Sands, Ltd.—lnterim at 15 per cent. .. .. • • Dec. 10 Broken Hill South —Quarterly, 2s 6d per share .. .. Dec. li Kauri Timber—s per cent. .. Dec. 12 Bank of New Zealand Interim at rate of 10 per cent, ner annum ord. shares and at 7 per cent, per annum long - term D Mortgage shares ,• •• • • Dec. 12 Mount Lyell—Final, Is 6d a share, making 10 per cent. for year Dec. 12 North Kalgurlie—lnterim. 9d a share (sterling, less English income tax) Dec. 2o Morris Hedstrom—lnterim, 2i per cent, ■ • Dec. 20 P. and O. Company—Deferred Stock at 4 per cent, and preferred at 5 per cent. Sulphide Corporation—2s per ' share on preference shares and 9d per share on ord. Goldsbrough, Mort, Ltd. —Interim, 2 per cent. ... .. ..

FOREIGN EXCHANGES (British Official Wireless) (United Press Association) (By Electric Telegraph—Copyright) ItUfißY, Dee. 1. Paris— Pat Nov. 30. Dec. 1. Francs to £1 134.31 105 5-32 105 11-10

ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchases and sales of foreign exchange yesterday

DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis They are subject to alteration without notice:— u.S.A. Canada (Per £ (Per £ N.Z.) N.Z.) cpiiincT Dols. Dels . .. 3.932 3.93 OD* •• •• . • * * 3.932 3.93 J B^ V T S “ .... 3.97 3.96:4 q'j} 3.98 i 3.97 a NEW GUINEA GOLD SHARES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. New Guinea Gold shares are quoted at 4s o|d.

MINING NEWS SANDHILLS WASH-UP The manager of the Sandhills Gold Mining Company, Ltd., advises that he has washed up lOoz 17dwt, and is now shifting the plant up the gorge. ALEXANDER MINES, LTD The gold returns for the month of November in the Alexander Mines were as follows: Battery department: Crushed 435 tons of ore for 2170 z 4dwt of melted gold. Cyanide department: 280 tons of sands were treated for 570 z lOdwt of bullion. Total estimated value, £1765. In addition 9.6 tons of concentrates were saved, valued at £375. In estimating the above values gold has been taken at 140 s per fine ounce. AUSTRALIAN PRICE OF GOLD The price fixed by the Commonwealth Bank for gold, including jewellery, lodged at the Melbourne Mint for the week ended November 20 was at the rate of approximately £8 2s OJd per standard oz (22 carats) equal to a premium 108.07 per cent Payment is made according to the assay value of gold. The price was sd lower on the week. The price per oz fine was £8 16s 9d. which was down Jd on the week. MOSSY CREEK RETURN (Per United Press Association) WELLINGTON, Dec. 2. The Mossy Creek return was 40uz sdwt for 11.750 yards and 136 hours’ work. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By iLlectric Telegraph—Copyright) SYDNEY, Dec. 2. (Received Dec. 2, at 10.30 p.m.) On the Stock Exchange the investment market was fairly steady, with a healthy tone. Banks were more active, Barriers were weaker, and tin shares quiet. THE MORNING SALES Commonwealth Bonds—

LONDON STOCK EXCHANGE (United Press Association) (By Electric Telegraph—Copyright)

The North and South Broken Hill Companies announce that they have subdivided their £1 shares into 5s shares. MELBOURNE. Dec. 2. The better demand for bonds continues but industrials are slightly easier, with British Tobacco subject to profit-taking following the announcement of an 8 per cent, dividend Mining shares generally are easier

ADDINGTON STOCK SALE (Feb United Press Association) CHRISTCHURCH, Dec. 2.

CANADIAN WHEAT EXPORTS (UniteQ Press Association) (By Electric Telegraph— Copyright) WINNIPEG. Dec. 2. (Received Dec. 3, at 0.30 a.m.) At the Royal Commission which is investigating Canadian wheat marketing it was stated that Canada's exports of wheat showed an annual decline of 91,300,000 bushels during the five-year period ending 1935-3 G. BRITISH TOBACCO COMPANY QUARTERLY DIVIDEND DECLARED (Per United Press Association) WELLINGTON. Dec. 2. The British Tobacco Company has advised the Stock Exchange Association that a quarterly dividend of 2 per cent, has been declared, payable on December 31. LONDON METAL MARKET (United Press Association) (By Electric Telegraph—Copyright)

ANTWERP FUTURES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. Antwerp futures are steady. Quotations: January, 32J; March, 32.1; May, 32.1. RUBBER MARKET (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. Rubber stocks: London, 37,614 tons; Liverpool, 51,614. P. AND 0. COMPANY (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. The P. and O. Company’s profit is £328,909; brought in, £158,884; carried forward, £152,093. TIN MARKET (United Press Association) (By Electric Telegraph—Copyright) LONDON. Dec. 1. Tin: World visible supplies, 10,864 tons; Straits carry-over. 2939; supplies, 13,730: deliveries. 8793. LONDON WOOL SALES (United Pr-is Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. At the wool sales 10,305 bales were offered, including 4041 from New Zealand, and 9425 bales were sold. There was good general demand for a moderate selection. Recent prices were maintained New Zealand greasy crossbred. “Manganui,” 16d; slipc half-bred lambs, “TBS, Canterbury.” top 22d, average 18d. DAIRY PRODUCE (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. Butter is quiet. Salted New Zealand, 103 s to 104 s; Kangaroo, 102 s. Unsalteds are scarce at 117 s and 115 s respectively. DOLLAR AND FRANC (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. Exchange on New York is quoted at 4.91 dollars to the £l, and on Paris at 105 3-16 francs to the £l. ESTIMATED WOOL PRODUCTION (United Press Association) (By Electric Telegraph—Copyright) LONDON. Dec. 1. Wool Intelligence notes that the preliminary estimated wool production of Australia, New Zealand, South Africa, the Argentine and Uruguay for the 1936-37 season will aggregate about 2.065,000,0001 b. PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright)

Fat and store sheep sold well to-day at the weekly market, but fat lambs and fat cattle, due to excess entries, met with an easing. Store Sheep.—Wethers were dearer by Is a head, and wether hoggets by a little less. Merino wethers in wool made to 24s 4d, shorn halfbred to 22s fid, woolly ewe hoggets to 35s 3d. and ewes (old) and lambs to 15s Bd.

Fat Sheep.—There was a smaller entry and an advance of up to 2s for prime wethers, and to 2s 6d for ewes. An export firm bought several hundred light wethers. Best wethers sold from 27s fid to 30s 9d; good, 25s to 275; inferior, down to 225; best ewes, 23s to 25s 9d: good. 21s to 22s fid: others, down to 18s. Fat Lambs. —There was an easing of about 2s a head, average values being B]d to 9d. Fat Cattle.—lt was an easier sale by 10s to 15s a head. Best steers sold to £l3 15s; good. £lO 10s to £l2 10s; best heifers. £9 10s to £l2; light, down to £5 15s; best cows, to £ll 10s; good. £7 10s to £9 10s: others, down to £5 10s. Fat Pigs.—lt was a firm sale for both porkers and baconers. Porkers averaged 34s fid to 49s fid; average per lb, 53d to 6.1 d. Baconers averaged 53s fid to £3 19s fid; average per lb, 53d to 6.1 d. COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo tea auction of December 1: At yesterday’s sale of 1,250,0001 b all grades advanced, commons being Id dearer, while quotations for medium and fine teas showed a rise of 3d to Id on last week’s rates. At next week’s sale 1.750,0001 b will be auctioned. AUSTRALIAN WHEAT FOR ITALY (United Press Association) (By Electric Telegraph—Copyright) LONDON. Dec. 1. Italy has purchased two more Australian wheat cargoes totalling 17.000 tons.

Fraser and Co., selling agents for Otago and Oamaru Egg Circles report as under:—

Eggs: Market rates. Butter; Separator pats. 8d per lb. Tallow. 11s to 12s per cwt Pigs: Good bacon weights. 6Jd to 7d per lb: overweights. 2d to 3d. Porkers, per lb. Potatoes, £3 to £3 10s per ton Chaff, £5 10s per ton, sacks extra. Whole fowl wheat 5s fid per bushel Canadian onions 28s to 30s per bag. Bulk honey. 4d ‘o 41d per lb: 101 b tins 6s to 6s fid

Poultry; White Leghorn hens. 3s fid to 5s heavy breeds. 5s to 6s: cockerels, light 3s 6d to 4s. heavy 7s to 9s. roosters. Is 4d to 2s; ducks. 4s to ss; ducklings. 5s to 6s: all per pair: turkey gobblers. 8d to 9d per lb live weight: hens 7d to 8d per lb. Wa stock Palmer’s chick food. “ National" meatmeal; leg rings Is per dozen (special quotes for quantities). We are Otago agents for “ Gamble ;l electric incubators and the “ Betteridge" egg cleaning table: narticulars on application. Consignors, please note that all pigs and poultry must arrive not later than Wednesday morning of each week. We have a stock of poultry crates on hand for the use of our clients.

CANTERBURY FROZEN MEAT AND DAIRY PRODUCE EXPORT CO. NET PROFIT OF £41,119 (Per United Press Association) CHRISTCHURCH, Dec. 2. The annual report of the Canterbury Frozen Meat and Dairy Produce Export Company, Ltd., states that the net profit for the year, after making provision for depreciation, is £41,119 8s Id From the amount brought forward last year the sum of £3OOO has been deducted for the additional dividend paid during the year to preference shareholders by order of the Supreme Court. The balance added to the net profit for the year makes the amount at the credit of the profit and loss account £45,308 7s 3d, Out of this £IO,OOO has been added to the general reserve fund and £12,000 to the renewals reserve fund, and after such appropriation there remains £23,308 7s 3d, which the directors propose should be dealt with as follows: Dividend 6 per cent, on preference shares, £6000; the payment of a dividend of 7 per cent, on ordinary shares, £7875: carry forward. £9433 7s 3d. DOMINION BREWERIES, LTD. (Special to Daily Times) AUCKLAND. Dec. 2. The directors of Dominion Breweries. Ltd., have decided to pay an interim dividend on the ordinary shares (old issue) at the rate of 8 per cent, per annum for the half year ended September 30, and on the preference shares and ordinary shares (new issue) at the rate of 8 per cent, per annum on the amount paid up from time to time to September 30, 1936. The dividends are payable on December 18. PROPERTY SALES ' Messrs R. S. McKenzie, Ltd., report having submitted at auction yesterday the parcel of land in the township of Hawthorne containing 2 acres 18.5 poles, being section 45, lot 9, North Harbour and Blueskin district, known as 058 North road, Dunedin, comprising a small holding, five-roomed dwelling and outbuildings There was a good attendance and the bidding was spirited, the property eventually being sold to Mrs M. Holley at £875. Messrs Tamblyn, Rhodes, and Jamieson offered for sale at public auction yesterday a five-roomed villa at 47 Lawrence street, Mornington. Good bidding vyas recorded, and the property eventually changed hands to Mr Donald M'Lean. DUNEDIN STARR-BOWKETT A meeting of shareholders in the Dunedin Starr-Bowkett Building Society was held last night to deal with the 108th appropriation of £SOO by balloi Cluster No. 39, being five shares held by one shareholder, was the successful number.

Sales on ’Change d. £ s. N.Z. Refrigerating (cent.) ,. Dunlop Rubber (5) .. .. 0 10 0 17 0 17 0 9 8 Hume Pipe (2) .. .. .. 1 1 0 Mort's Dock < • 0 13 8 Mount Lyell (3) .. .. .. 1 17 0 / Sales Reported Nokomai (late Tues.) 0 2 9 Bank of N.Z. (3) 2 2 0 Associated News (pref.) .. 1 '1 0 N.Z. Refrigerating (cont.) 0 10 0 8 Dunlop Rubber • 0 17 Broken Hill South (2) 1 11! 6 Hume Pipe (4) 1 0 11

■ ' •' Buyer Seller £ s. d. £ S, d. N.Z. 2 1 9 2 2 3 Commercial 0 19 3 — Natl, of N.Z. 3 0 0 — Union .. .. 10 3 0 — .... INSURANCE National .. .. 0 18 3 0 18 7 Standard .. • ■ , 3 .1 0 SHIPPING 1 6 Howard Smith .. — i P. and 0. Def. 1 18 0 Stock — U.S.S. Co. (pref.) 1 • 6 3 1 V 0 MEAT PRESERVING N.Z. Refrig. 0 19 (1 (paid) .. .. 9 1 3 N.Z. Refrig. 1 (cont.) .. .. 0 9 11 0 111 Waitaki Farmers 4 1 0 — LOAN AND AGENCY Goldsbrough, Mort 1 15 3 1 16 3 Mortgage Corp. 3J 98 ICl 0 p.c. Stock .. .. — Natl. Mortgage .. 2 10 0 N.Z. Loan and M. 32 0 0 (ord.) . • ■ • — N.Z. Guarantee 0 5 1 Corp. .. .. — 0 Perpetual Trustees — 3 4 Trustees, Executors 3 12 0 — Wright. Stephen0 18 son (ord.) 3 * COAL Kaitangata ■ .. 1 2 0 Westport .. .. 1 1 6 — WOOLLEN COMPANIES Bruce (ord.) — 0 IS 6 Bruce (pref.) ;. — 1 A 0 9 Kaiapoi (cont.) .. , 6 0 Mosgiel 9 10 — MISCELLANEOUS Anthony Hordern — 0 19 i Associated News 6 (pref.) — 1 4 10 Australian Glass — 6 4 0 British Tobacco .. 2 5 2 19 0 Broken Hill Prpy. 3 18 6 3 0 Brown. Ewing 0 18 0 (ord.) 43 —" Colonial Sugar .. — Cl 0 Consolidated Brick 0 10 9 0 11 3 D.I.C. (pref.) .. 1 3 6 — Dominion Fer6 tiliser — 1 4 Dominion Rubber 1 9 0 Dunedin-Kaikorai 1 17 Trams — 0 Dunlop Perdriau Rubber .. .. .. 0 17 8 0 17 9 General Industries 0 18 0 — Hume Pipe .. 1 I 0 1 1 2 Milburn Lime . ■ 2 1 10 2 2 13 6 Mort’s Dock .. .. 0 13 8 0 10 Natl, Electric .. 0 15 0 — N.Z. Drug Co. .. 3 14 6 — Farmers' Fertili- . _ 1 0 0 Regent Theatre.. Wilsons Cement.. 1 1 1 16 3 3 1 17 3 Woolworths (ord.) 6 13 0 — G. J. Coles .. 4 0 6 4 2 0 0 17 6 —*• BREWERIES N.Z. Breweries .. 2 12 10 2 13 9 '1 16 0 1 OIL Moturoa (pref.) *•0 2 9 — . AUSTRALIAN MINING Electrolytic Zinc . 6 6 (pref.) .. ... • • Electrolytic Zinc 2 9 l 2 0 18 9 i i 0 Mount Lyell 1 16 10 i 17 0 Mount Morgan .. — 0 16 9 3 Upper Watut Rawang .. ..... • • 0 10 6 U A 0 11 Wellington Alluvials 0 3 5 0 4 0

MINING Argo .. . 0 1 10 0 2 0 Big River 0 1 11 0 2 1 Blackwater . . ,. .— , 1 12 6 Clutha River .. 0 2 ■5 — Consolidated Gold fields . . 0 15 0 — Gillespie’s Beach 0 1 5 0 1 6 Golden Sands .. 0 2 0 — Goldfields Dredg0 ing .. . 0 — 0 4 King Solomon .. 0 6] f — 0 19 3 — Molyneux River 0 2 0 0 — 9 Nokomai . 0 2 7 2 0 3 6 — Sandhills . 0 0 3 Waimumu Sluic0 7i ins .. . 0 0 6 0 Waipapa Beach.. 0 0 9 0 1 0 Worksop . 0 1 5 — -GOVERNMENT LOANS 3 i Stock, Nov., 102 1938-52 . — 5 0 3J Stock, March, 0 1939-43 . — 102 15 3J Stock. Sept., ,1939-43 . — 102 15 0 3i Stock May, 1939-52 . — 102 10 0 3} Stock, March, 0 1941-43 . 101 0 — 3i Stock. Sept., 101 0 1941-43 . 0 — 31 Stock. May, 101 0 0 1941-52 . — 3J Stock. Nov., 0 0 1941-52 . 101 — 4 Bonds. 1937-40.. 100 15 0 — 4 Stock. 1937-40.. 100 15 0 — 4 Bonds, 1943-46.. 101 5 0 — 4 Stock, 1943-46.. 101 10 0 102 — 4 Stock, 1946-49 . 101 10 0 0 0 4 Stock. 1952-55.. — 104 0 0

Sales on ’Change £ s. d. Stock, 15/11/38-52, 3J p.c. .. 101 15 0 Stock. 15/2/43-46, 4 p.c. .. 101 7 8 Stock, 15/4/46-49, 4 p.c. 101 7 8 City of Auckland, 1/1/44-52, 41 p.c 103 5 0 Commercial Bank of Australia 0 19 4 Union Bank 10 7 0 New Zealand Insurance (2) 3 1 0 National Insurance .. .. 0 18 0 Farmers 1 0 .9 G. J. Coles 4 0 .6 Woolworths (N.Z.) .. .. 6 15 0 Golden Crown 0 5 9 Martha 0 19 9 Mount Lyell 1 17 0 Mount Morgan 0 15 11 0 16 0 (2) 0 16 6 0 16 3 0 16 2 0 16 3 0 15 11 0 15 10 Rawang Tin 0 11 0 Unlisted Stocks Selfridges (A’asia, new) .. 1 17 3 1 17 0 Woolworths (Syd.) .. .. 7 10 0 7 14 6 Co-op. (£5 paid) .. .. 3 19 ' 0 Auckland Gas .. .. .. 1 2 0 Devonport Ferry 1 0 6 Dominion Breweries .. .. 2 0 3 2 0 41 Dominion Breweries (new) 1 19 U British Tobacco 2 6 8 Broken Hill Pty 3 19 2 Bycroft 2 0 0 Consolidated Brick .. .. 0 10 11 Dunlop Perdriau 0 17 7 Electrolytic Zinc (pref., 2) 2 9 0 Farmers’ Trading (2) ,. . . 1 1 0 (A pref., 2) 7 15 6

4 p.c. Inscribed Stock, 1949 (late Tuesday) .. .. .. 101 10 0 Bank of New Zealand (late Tuesday) .. 2 2 0 New Zealand Breweries (late Tuesday, 2) .. .. 2 13 0 G. J. Coles (late Tuesday) 4 0 9 (late Tuesday) 4 1 0 Electrolytic Zinc (pref., late Tuesday) 2 9 3 Mount Morgan (late Tues.) 0 15 11 Bank of New Zealand 2 2 0 National Bank of N.Z. 3 3 6 3 4 0 Auckland Gas 2 2 0 South British Insurance .. 4 10 6 Union Steam Ship (pref.) 1 6 8 Dominion Breweries .. .. 2 0 0 British Tobacco (2) .. .. 2 6 9 Colonial Sugar 43 0 0 Electrolytic Zinc (pref.) .. 2 9 0 G. J. Coles (3) 4 1 3 (2) 4 1 6 MacDuffs, Ltd. (pref.) 1 1 0 Mount Lyell (3) 1 17 0 Talisman Dubbo 0 10 0 Unlisted Stocks Woolworths, Ltd. (2) .. .. 7 15 0 7 15 6

N.Z. Govt. 4 p.c. Insc., 1943-46 v •• N.Z. Govt. 4 p.c. Insc., 1946-49 NZ. Govt. 4 p.c. Bonds, 1946 (2) Com. Bank of Australia .. P. and O. Deferred Stock (cum div.) Canterbury Frozen Meat .. N.Z. Refrig. (10s pd.; 3) .. Kaiapoi Woollens (17s pd.) N.Z. Breweries (cum div. 2) 101 101 102 0 2 9 0 0 2 15 12 0 19 1 12 9 14 13 0 6 0 4 0 0 10 1 3 British Tobacco (cum div.) 2 6 6 Broken Hill Pty. (4) .. .. 3 18 9 Broken Hill Pty. (cont.) .. 3 7 0 Colonial Sugar 43 2 6 Dunlop Rubber (4) .. .. .. 0 17 7 Electrolytic Zinc (pref.) .. 2 9 3 G. J. Coles 4 1 3 (2) 4 1 0 Hume Pipe (Aust.) 1 0 11 Mort’s Dock Wool worths (N.Z.: ord.; cum 0 13 4 div. and rights) 6 14 0 6 Id 0 6 15 6 Barrytown 1 12 6 Big River 0 2 0J Maori Gully 0 0 6 Waihi Grand Junction .. .. 0 3 9 Mount Lyell (3) 1 16 11 Mount Morgan (4) 0 16 2 (3) 0 15 11

Sales Reported N.Z. Govt. 4 p.c. Bonds, 102 0 1946 (2) 0 Com. Bank of Australia .. 0 19 5 N.Z. Refrig. (10s pd.) .. .. 0 9 ii British Tobacco (cum div.; 9 2) 2 6 Electrolytic Zinc (pref.; late 6 Wed.) 2 9 Hume Piper (Aust.) Woolworths (N.Z.; ord.; 2) 1 6 0 15 11 0 6 15 6 Mount Lyell 1 17 1 Unlisted Stocks Woolworths (Syd.; ord.) .. 7 11 0 7 12 0 7 12 6 7 13 0 7 13 6 7 13 0 (2) 7 13 6 Woolworths (W.A.) 6 16 0 Sales Reported Woolworths (Syd.; ord.) .. 7 13 0 Woolworths (W.A.) 6 16 0 6 15 0

Brussels— Belgas to £1 SO 29,05 29.02 Oslo— Kroner to £ J 18.180 19.90 19,90 Stockholm— Kroner to £ I 18.130 19.394 , 19.304 Copenhagen— Kroner to £1 IS.1S0 22.40 22 40 Berlin— Marks to £1 20.34 12.19 12.I9J Montreal— Dollars to £1 4.8G 2-3 4.894 4.90 New York— Dollars to £1 4.86 2-3 4.90J 4.90% Yokohama— Pence to yen 34.582 14 1-32 14 1-64 Hongkong— Pence to dollar 24.58 14 15-16 14 15-64 Bombay— Pence to rupee _ 184 181 Batavia— Florins to £1 12.10 8.98J 8.984 Milan— Lire to £1 82.46 93'/a 93 3-16 Amsterdam— Guilder to £1 12.107 9.0111 9.021 Prague— Kroner to £ 1 104 J 138% 138% GenevaFrancs to £1 25.22J 21.35 21,344 Vienna— Schillings to £ J .. .. 84.864 264 264 Helsingfors— Marks to £ 1 193.23 226J 2263 Madrid— Pesetas to £ 1 25.224 55 55 Belgrade— Dinars to £1 25.224 213 213 Athens— Drachma to £1 375 5524 530 Lisbon— Escudos to £1 110 110% 110 3-16 Bucharest— Lei to £1 931.8 6674 6674 Hlo de Janeiro— Pence to mllrels 5.81)0 4i 4i Buenos Aires— Pence to pesos 47.22 36 30 Shanghai— Pence to tael — 14 17-32 14 17-32 Montevideo— Ponce to peso# — 30% 39% Warsaw— ?Iotys to £ 1 — 26.05 26.05

London— Buying. Soiling £1 N.Z. to £100 stg T.T. 124 124/10/ 0.0. 123/10/ - 124/8/9 Australia— £ A to £100 N.Z T.r. 101 109/10/O.D. 101 100/10/ FIJI— 90/7/0 £ S'to £100 N.Z. r.i. 89 O.D. 90/7/0 89 New York— 3.07 Dollars to £ N.Z. T.r. 3.93J o.u. 3.98 J 3.933 Montreal— Dollars to £ N.Z. T.T, S.flfii 3.93 O.D. 3.97*2 3.93J Austria— Schilllnsa to £ 20.00 20.02 N.Z. .. .. r.i. O.D. Belgium— Belgaa to £ N.Z. r. r. — *23.172 O.D. — 23.183 Czechoslovakia— 110.19 Crowns to £ N.Z. T.i'. — O.D. — 110.21 Denmark— 18.203 17.803 Kroner to £ N Z T.T. O.D. 18.203 17.003 France— 84.25 Francs to £ N.Z. r.T, — O.D. — SlrJll Germany— Reichsmarks to £ N.Z. .. T.T — 9.725 O.D, — 9.730 Holland— 7.201 Florins to £ N.Z. r.i. — O.D. — 7.203 Italy— 71.03 Lire to £ N.Z. r. r. — O.D. — 71.08 Java— 7.165 Florins to £ N.Z. T.T. — O.D. — 7.109 Norway— 10.181 15.801 Kroner to £ N.Z. T.T. O.D. 10.241 15.001 Sweden— Kroner to £ N.Z. T.T. 15.785 15.490 O.D. 15.845 15.500 Switzerland— Francs to £ N.Z. T.T. — 17.050 O.D. — 17.004 Noumea— Franca to £ N.Z. • r.T. — 82.88 O.D. — 82.91 Papeete— 83.03 Francs to £ N.Z, r.r. <— O.D. — 83.09 Hongkong— N.Z. pence to 1 10 18 13-10 dollar .. .. T.r. 18 5« O.D. 18 932 18 51-01 India and Ceylon— N.Z. pence to 1 rupee .. .. T.r. 228 22 21-32 O.D 22 1132 22 41-04 Japan— N.Z. pence to 1 17 31-01 yen .... T.T. O.D. — 17 15-32 Shanghai— N.Z. pence to 1 dollar .. .. T.r. 17 13-1G 18 5-10 0.0 17 2532 18 19-04 Singapore— N.Z. pence to 1 dollar .. .. T.T. O.U 34 2334% 32 35 13-04 35 3-10 Chefoo— N.Z. pence to 1 dollar .. .. T.T O.D 17 53-04 18 29-01 17 25-32 18 7-10 All rates subject to alteration without notice

£ S. d. 3 p.c., 1948 91 0 0 3i p.c., 1949 97 17 6 4 p.c., 1938 102 5 C 4 p.c., 1941 100 8 9 4 p.c., 1947 101 0 0 4 p.c., 1953 101 10 0 4 p.c., 1959 100 10 0 Commercial Bank of Australia 0 19 6 Bank of New South Wales 34 7 6 National Bank (£5 paid) .. 7 10 0 Tooheys 1 14 0 Anthony Hordern .. .. 0 19 rj (prof.) 1 2 3 Associated News .. .. 1 4 3 British Tobacco 2 7 0 G. J. Coles 4 2 3 General Industries (prof.) 1 2 6 Howard Smith 1 1 6 Zinc Corporation .. .. C 1 6 ADDITIONAL SALES Bank of New South Wales 34 5 0 Comm. Bank of Sydney .. Comm. Bank of Australia.. 20 0 10 19 0 54 National Bank (£5 paid) .. 7 10 0 British Tobacco 2 (1 9 Tooths 2 14 0 Tooheys 1 14 0 G. J. Coles 4 3 0 Australian Glass .. .. .. 4 9 0 Henry Jones (ex div.) 2 4 6 Goldsbrough. Mort .. .. 1 16 6 Mauri Bros 3 11 0 Sargents 1 9 3 Waldas 1 14 0 Gordon and Gotch .. .. 2 13 3 Woolworths (ord.) .. . • 7 15 6 Mount Morgan 0 16 3 Mount Morgan (New Zca0 16 land delivery) ri Zinc Corporation 6 1 0 Kuala Kampar 0 17 Emperor 0 19 14 Austral Malay Tin 3 12 6 Jelapang 1 12 6 Puchong — 1 10 0

£ S. d Comm. Bank of Australia.. 0 19 6 National Bank (£5 paid) .. 7 10 0 National Bank (£10 pd.) .. 15 10 0 Howard Smith 1 1 6 British Tobacco 2 7 0 G. J. Coles 4 2 9 Aust. Iron and Steel (pref.) 1 5 9 Australian Glass 4 9 0 Electrolytic Zinc 2 7 9 Mount Morgan 0 16 3 Mount Lyell 1 17 0 Broken Hill Ply 3 19 9 North Broken Hill .. .. 3 0 6 South Broken Hill .. .. 1 18 0 Zinc Corporation 6 0 0 Emperor 0 19 3 Loloma 1 3 9 Hume Pipe 1 1 0 Sulphide Corporation 0 18 1

r.OXDON. Dec. 1. The following are the official met a Ton. quotations Copper. *pot .. .. E13 8 0 Pall 0 13 IV Copper, forward .. 13 10 3 Pall 0 12 c Electrolytic spot 48 10 0 Fall 0 5 u electrolytic, forward 40 0 0 Fall 0 5 0 Wire bar.* .. .. 40 0 0 Fall 0 5 0 Lead forward . • 22 13 0 Fall 0 IQ 1) l.ead spot .. .. 22 12 0 Fall 0 13 9 Spelter boot .. 10 3 9 Full 0 11 Speller forward .. 1C 10 0 Fall 0 7 c Tin. spot .. .. 230 10 0 Fall 4 10 0 Tin forward •• 220 17 Oz 0 Fall 4 0 0 Silver, fine .. .. 21 l-8d Rise 1 Sd Silver, standard .. 22 13Kid Rise 1 Sd

LONDON, Dec. 1. £ s. d. Bank of Australasia 10 1 3 E.S. and A. Bank .. .. 4 16 3 Union Bank of Australia .. 8 5 0 Bank of New South Wales 28 12 6 National Bank of N.Z. 2 15 0 Bank of New Zealand 1 18 6 British Tobacco 1 16 3 Goldsbrough. Mort .. .. 1 lu 0 Dalgety 8 10 0 P. and 0. Deferred .. .. 1 13 71 New Zealand Loan and Mercantile 4 ner cent, debentures 93 0 0 New Zealand Loan and Mercantile (ord.) .. .. 26 10 0

LONDON, Dec. 1. £ s. d. December 1 7 1 V November 30 . . . . 7 1 11 November 28 7 2 0 November 20 . . . . 7 1 11* November 25 7 2 1 November 24 7 2 10* November 23 7 2 2 November 21 7 2 2 November 20 7 2 2