COMMERCE AND FINANCE

Otago Daily Times, Issue 23057, 7 December 1936, Page 14

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Two sales of Mount Morgan, at 14s 9d and 14s Bd, were recorded on the Dunedin Stock Exchange on Saturday morning, the closing buying and selling quotations being 14s 7d and 14s Bd, indicating a considerable drop in the value of these shares since the previous day. The inquiry for Bank of New Zealands eased a trifle, buyers best offer being £2 Is 6d. Sellers, however, remained firm at £2 2s 6d. A sale at £2 2s was reported. Commercial Banks also eased slightly, a buyer at 19s attracting no response from sellers. Paid-up New Zealand. Refrigeratings met with a weaker inquiry at 19s 9d, but the contributing issue firmed slightly, buyers offering 9s Bd. Sellers would not take less than 10s. Broken Hill Proprietaries were inquired for at £3 18s, but sellers did not come forward. The advance in the value of G. J. Coles shares was maintained, the closing buying offer being £4 5s 6d. Sellers, however, were reticent. New Zealand Breweries met with a slightly weaker inquiry at £2 13s, sellers remaining unchanged at £2 14s. Electrolytic Zinc preference shares were in better demand at £2 8s 6d, sellers remaining steady at £2 9s 6d.

WELLINGTON Sales on 'Change

CHRISTCHURCH

DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payable:— Swan Brewery, Perth—Halfyearly ord., 2s and bonus North Broken Hili-4s a share Dec. 8 N.Z. Breweries—lnterim, 4 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 Quar- ■ terly. 2s 6d per share .. Dec. 11 Kauri Timber—s per cent. .. Dec. 12 Bank of New Zealand Interim at rate of 10 per cent, per annum ord. shares and at 7 per cent, per annum long - term D mortgage shares Dec. \£ Mount Lyeli— 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. 28 Morris Hedstrom—lnterim. 2£ per cent Dec - 30 G. J. Coles—Quarterly. Is per share •• Jan - 1D P. and O. Company—Deferred Stock at 4 per cent, and preferred at 5 per cent. Sulphide Corporation—2s per share on preference shares Efhd 9d per share on ord. Goldsbrough, Mort, Ltd.—lnterim, 2 per cent •

NORTHERN EXCHANGES AUCKLAND

COTTON, RUBBER, ETC. (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 5. (Received Dec. 6, at 8 p.m.) Friday's closing prices are as follows: Cotton.—Spot, 6.81 d per lb; January delivery, 6.58 d. , , Rubber, Is. plantation smoked, 9 l-16d. j u te.— December-January shipment, £lB 17s6d. T .. Copra.—December - January shipment, South Sea, £l9 7s 6d; smoked, £l9 7s 6d; plantation Rabaul, £2O 7s 6d. Linseed oil, £2B 5s per ton. Turpentine, 41s 9d per cwt. PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright)

PRICE OF SILVER (British Olticrai Wit-less.) RUGBY, Dec. 4. Silver, spot and forward, is quoted at Is 9 3-16 d per oz.

LONDON MEAT MARKET SMITHFIELD PRICES (Per United Press Association) WELLINGTON, Doc. 6. The New Zealand Meat Producers Board advises that the following are the approximate average prices realised for the week based on actual transactions in wholesale quantities of the descriptions of the meat mentioned and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield Market and/or ex London stores (prices for the two previous weeks are also

FOREIGN EXCHANGES {British Official Wireless) (United Press Association) (By Electric Teleeraph— Copyright)

Lamb Market.—Steady and unchanged. Stocks of New Zealand now very small. Mutton Market.—Wethers meeting with good trade at slightly higher prices. Ewes: Market steady and unchanged. . , Beef Market.—frozen beef quid. Chilled beef slightly easier this week owing to heavier supplies. N.Z.' Porker Pigs.—Market firm, with values higher. , N.Z. Baconer Pigs.—Nominal.

The Bank of New Zealand has received the following advice from its London office as at the close of business on Friday-

Frozen Meat.—The demand ana prices for wethers are steady, and there is a fair demand for ewes. The demand for lambs is moderate. Large supplies due shortly are having a weakening effect on the market. Wethers-light 42d to s|dl per lb. heavy 3§d to 4Jd ppr lb; ewes 3fd to 4 h d per lb; lambs-twos 7gd to 7Jd per lb, eights 6ld to 7id per lb, fours 6Jd to 6|d per lb, seconds 7d to 74d per lb. BRITISH TREASURY BILLS A SOUND DEMAND (British Official Wireless) (United Press Association) (By Electric Telegraph—Copyright) RUGBY, Dec. 4. The total amount applied for in tenders for £50,000,000 of Treasury bills was £67,900,000 at an average rate per cent, for the bills at three months of 15s 9.73 d, against Us 5.29 d a week ago

ON NEW ZEALAND CURRENCY BASIS The Ban* of New Suuih Wales. Ouucdln quoted, the following rates tor purchases and sales of foreiCD exchange on Saturday:—

DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday on a New Zealand currency basis. They are subject to alteration wilhnui notice: ~ U.S.A. Canada (Per £ (Per £ N.Z.) N.Z.) ' Dols Dnls rr g ~ .. 3.923 3.921 O.D. '.'. V. •• •• 3 - 93 * 393 g Buying- ' 396| 396 i O.D. '.'. '.'. '•■ •• 3 - 97 S 397 i FRUIT AND PRODUCE WORLD Reilly's report selling:— Per dozen: Spring cabbage, 3s to 4s 6d. Cauliflowers, 4s to 6s. *Carrots, Is 3d. Spinach, Is. Lettuce: Choice. Is 6d to 2s 6d; small, 8d to Is. Eggs: Guaranteed. Is 4d Cucumbers. 5s to 12s - ... . Each: Champion egg crates, 24 dozen 17s 6d. Fruit crates, 6s 6d. Per case: Oranges: Australians, to arrive 12th. Californi an lemons; 65s Grapefruit 37s 6d. Grapes: Red Emperor, 30s; Almerias, 32s 6d. Canadian apples: Delicious, Winesaps, 22s 6d Ripe bananas, 28s. Pines, to arrive Apples: Delicious, 8s to 10s; Sturmers. 6s to 10s; Rome Beauty, 8s; Lord Wolseleys. 7s 6d Pears wanted: Winter Cole. 10s 6d to 12s 6d; P. Barry, 8s New Zealand lemons 12s to 16s: wasty 6s to Bs. Per lb: Strawberries: Choice. lOd to Is; jam, 7&d to Hd. Cherries: Choice. 9d to Is: small 5d to Bd. Christchurch tomatoes: Firsts, Is Id to Is" 2Jd; seconds and small, 8d to lid; local tomatoes: Firsts, is Id to Is 6d; seconds and small Is to Is 2d. Green peas 4d to 4Jd Broad beans, 2d. Gooseberries, 2d to 3d. New potatoes: Local 2d to 3d: Kakanui. 2d: Pukekohe lid kumeras 3|d. Rhubarb, 2d. Tea Orange Pekoe, 2s 6d Cheese. 7d Butter: Storekeeper's. BJd. Bacon: Prime Is Id. Bacon and porker pigs, to 7d; over-weights, 4d Hams, Is 3d Bulk honey, s|d. Beeswax, Is 3d. Per cwt.: Onions: Canadian. iOs. Oyster grit, 6s. Woodwool, 265. Old potatoes. 3s to 4s. " Vivus " and " Viv o Veg" plant food, 18s 6d. ' Olive oil 12s gallon. Giraffe lin>f> sulnhur. Is 6d eallon. Semesan: 2oz, 2s 3d; lib, Bs. Red. Rose nicotine sulphate; 101 b 455; 21b. lis 6d; lib. 7s 6d: Jib 4s 6d Arsenate of lead paste. 9d and Is 3d. Powder Is to is Id. Red Oil. 5s 6d. French Bordeaux, Is Id. Strawberry punnets. 66s per 1000 Fowl wheat, to 5s 6d Partridge peas 6s 6d Maize. 8s 6d. Oats: Gar,tons, 3s to 3s 6d bushel Crushed oats 9s 6d. X Keys meatmeal, 15s bag. Pollard, £6 ss. Bran, £5 10s. Chaff, b. 0.5., £4 15s ton. Buttermilk Powder, 3.'.d Palmer's chick food 1001 b, 17s 6d. Per pair: Poultry—4ss cockerels. Ms to 8s 2d; 255 hens," 4s 6d to 7s 8d; 335 chickens. 4d to lOd: 18 pullets. 5s per pair. REILLY'S CENTRAL PRODUCE MART, LTD.. Moray place. Dunedin, C.l.

SOUTHLAND MARKETS STOCK REPORT (Special to Daily Times) INVERCARGILL, Dec. 5. The stock market shows very little change from our report of last week, prices in all sections being firm. Fat cattle are coming forward in fairly large numbers, and good quality cattle were selling at values slightly better than last week. Fat sheep are also in good supply and values remain firm. The store sheep market is very firm and in sympathy with the enhanced values in wool: the demand is keen and prices have advanced. The store cattle market continues good, with a healthy demand for forwardconditioned, well-bred cattle. Fat Cattle.—Prime heavy bullocks, £ll 10s to £l2 10s; medium, £9 10s tc £lO 10s; lighter, £7 10s to £8 10s; prime heavy heifers, £9 to £10; medium, £7 to £8; lighter, £4 to £5: prime cows, £8 to £9; medium. £6 to £7; lighter, £4 10s to £5 10s; vealers. £1 to £1 10s: runners. £2 to £3.

Fat Sheep.—Prime heavy wethers, 27s to 295, medium, 25s to 265; lighter, 22s to 23s 6d; prime heavy ewes, 21s tc 22s Od; medium. 18s to 19s: lighter. 15s to 16s.

Store Sheep.—Romney two-tooth ewes, shorn, 30s to 355; two-tooth wethers, 18s to 225; 2,4, 6, and eighttooth ewes and lambs, all counted, 21s to 245; aged ewes and lambs. 16s to 18s; medium. 14s to 15s. GRAIN REPORT

Oats.—These are distinctly scarce, and because of this fact and the continuous inquiries coming to hand from northern brokers, the market has a strong upward tendency. Sales of oats on sample have been made at 3s 9d per bushel, f.0.b.. s.i., and to-day we hear of would-be sellers asking as high a rate as 4s per bushel, but this we should say is in advance of market prices, the former figures being nearer the price of A grade. Local millers are operating at the equivalent. Seeds.—Business with merchants is distinctly slack, though the retail demand is probably brisker than it has been at this period for some few years. Nominal values of seeds generally are:— Ryegrass, 3s 6d to 3s 8d per bushel; variation in price being accounted for by weight and analysis; crested dogstail, 9jjd to lid per pound for extra nrime; white clover, from 120 s to 125 s per cwt; Chewings Fescue, IOJd per lb, with Brown Top now in request at nominal value of IOJd.

STOCK MARKETS (British Official Wireless.i (United Press Association) (By Electric Telegraph—Copyright) RUGBY, Dec. 4. The stock markets are quiet, under the influence of the constitutional issue. MERCHANDISE MARKET The Port Hunter, due here on December 17 from London, will land salmon and shrimp and chicken and ham pastes.

The Marama, from Melbourne, brought lexia raisins, figs, and Austra-lian-packed pears. The Port Waikato, the Waipiata, and the Wingatui will land cargoes of sugar before the end of the year. , Advice has been received that offers of glycerine have been withdrawn from the market.

The Mahia, from Glasgow and Liverpool, is discharging at Port Chalmers. She has brought a supply of Red Jacket tobacco, which is in short compass in wholesale hands. A new line, Red Feather pork brawn, packed in Melbourne, is now on the market. Included in the lines landed from the Ruahine at Port Chalmers, were Morton's herrings in mustard sauce, curry powder, Lyle's syrup. Peck's pastes, Fowler's treacle, etc. Supplies of Hawaiian pineapples and pineapple juice will shortly be on the market.

The Waiotapu, from Vancouver, due on December 10, has on board shipments of the new season's salmon and pilchards. Hudson's extract of soap, large, has been slightly reduced in price. The cheese market is firm, and the wholesale quotations have been advanced.

DAIRY PRODUCE The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following advice from its London house under date 2nd Instant; New Zealand choicest salted butter, 104 s per cwt; market steady. Cheese, 64s to 65s per cwt: market quiet. LONDON METAL MARKET (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 4. Tbe rcllowlnu are the ulUclal metal uuotatlons:-

NATIONAL TOBACCO COMPANY

STEEP DECLINE IN NET PROFIT The directors of the National Tobacco Company, Ltd., in their thirteenth annual report, state that during the year ended October 31, ther. was a steep decline in profits from £34,000 to £19,000. a decline of more than 40 ner cent.

"The result of this year's trading may seem disappointing compared with that of previous years, yet we have earned enough to make the usual writings off for depreciation, ana pay shareholders a substantial dividend. But beyond this there is nothing left for the reserve fund For 12 years in succession, with no exception, have we been able to set aside a substantial amount for reserve, and this is the first year we have missed. It seems almost a pity to spoil such an unbroken record, yet it might have been worse."

The balance sheet shows that stocks of raw leaf, manufactured tobacco and requisites are higher by £20,000, compared with last year's, and cash in bank lower by £13,000. Gross profits are down by £13.000, and net profits by £19.000 After all charges, writing off £4752 for depreciation on buildings and plant, and allowing the sum of £IB.OOO for income tax have been deducted, there is a balance left of £19,206 13s 4d, which represents the net profit for the vear. The balance of £3496 lis brought forward from last year makes a total of £22.703 4s 4d available for distribution. Out of this directors recommend the distribution .of a dividend of 12 per cent, on the ordinary shares, and 8 per cent on the preference shares, absorbing £16.351 15s 7d and leaving a balance of £P<*sl *s 9d.

MINING NEWS WAIPAPA BEACH RETURN Messrs W. A. Mitson and Co., secretaries of the Waipapa Beach Gold Dredging Company, Ltd., report that the usual wash-up took place on Friday. The dredging time was only 92 hours, this being a short w.eek, consequent upon the previous interruption caused by the silting of the dredge paddock. The return for 92 hours' dredging was 15oz 15dwt. • GILLESPIE'S BEACH WASH-UP The secretaries of Gillespie's Beach Gold Dredging Company, Ltd., advise that the wash-up for the week ended December 4 amounted to 550 z 7dwt for 104 hours' dredging. The dredge was working the full length of the cut. BUTTER AND CHEESE LONDON MARKET PRICES (Per United Press Association) WELLINGTON, Dec. 5. The following information has been supplied regarding the London markets by the Primary Products Marketing Department, which has received a cable from London:— Butter.—New Zealand salted 104 s, unsalted 116 s to 118 s; deliveries, New Zealand 1858 tons, in store 3608 tons, including 9657 boxes by the Napier Star and Remuera. The market is quiet, and retail prices are unchanged. Cheese. —New Zealand white and coloured. 625, 635; deliveries. New Zealand 15844 crates; in store 39.167, including 8070 crates by the Remuera. The New Zealand retail price is Bd. SYDNEY EXCHANGE (United Press Association) (By Electric Telegraph— Copyright) SYDNEY, Dec. 5. (Received Dec. <5, at 5.5 p.m.) £ s. d.

CHRISTCHURCH PRESS COMPANY The directors of the Christchurch Press Company, Ltd., in their report for the year ended October 31, 1936, state that the working profit was £7241 Is 6d, after deducting depreciation on machinery, plant, and buildings, and reserving £3825 for taxation. The directors recommend the payment of 2$ per cent, dividend for the half year, absorbing £3277 10s, and leaving £348 9s 9d to be carried forward. They also propose that the amount shown in the balance sheet as investments realisation surplus, £4247 Bs, be transferred to the Reserve Fund. The circulation has improved, and advertising revenue is better, but costs of production have materially increased.

Sales on'Change £ s. d. Mount Morgan . •• 0 14 0 114 9 8 Bales Reported Colonial Sugar (late sale 43 0 2 2 0 0 Bank of New Zealand t § Sales Reported After Last Call N.Z. Guarantee Corporation (2) 0 5 o The following are Saturday morning's buying and selling quotations, which are subject to the usual brokerage:_ BANKING Buyer Seller. £ s. d. £ s. " a. 2 1 6 2 2 6 Commercial .... 0 19 0 - — Natl, of N.Z. ... 3 1 0 — INSURANCE — 0 18 7 — 3 1 6 SHIPPING Howard Smith .. — 1 1 6 U.S.S. Co. (pre!) 1 6 3 — MEAT PRESERVING N.Z. Refrig. 0 19 9 — N.Z. Refrig. 0 9 8 0 10 0 South. Froz. Meat — 7 12 6 Waitaki Farmers 4 0 0 — LOAN AND AGENCY Dalgety and Co. .. 10 0 0 1,1 0 0 Goldsbrough, — 1 18 6 Mortgage Corp. 33 — 98 10 -o Natnl. Mortgage 2 9 6 — N.Z. Guarantee 0 5 0 — Perpetual Trustees .. — 3 4 0 Trustees, Execu3 12 0 — Wright, Stephenson (ord.) .. .. 0 18 3 — .....; ... COAL Kaitangata .. 1 2 0 — 1 1 6 — WOOLLEN COMPANIES Bruce (ord.) .. ■— 0 13 6 Bruce (pref.) _ 1 3 0 Kaiapoi (cont.) — 0 5 9 Kaiapoi (pref.) — 0 17 9 9 10 0 — MISCELLANEOUS Anthony Hordern — 0 19 1 Australian Glass — 4 7 6 British Tobacco 2 4 3 __ Broken Hill Pty. 3 18 0 — Broken Hill Pty. 3 6 0 3 7 0 Brown, Ewing (ord.) 0 18" 0 — Colonial Sugar .. 42 15 0 — Consolidated 0 10 9 0 11 2 Crystal Ice .. — 2 8 0 D.I.C. (pref.) .. 1 3 6 —- Dominion Fertil- * — 1 4 3 Dominion Fertiliser (debs.) 105 0 0 — Dominion Rubber 1 8 6 1 12 •6 Dunlop Perd. 0 17 5 — General Industries 0 18 0 — Hume Pipe .. 1 0 8 1 1 2 Mort's Dock .. 0 13 3 _— Natnl, Electric .. 0 15 0 ' — N.Z. Drug Co. ..-. 3 14 0 — Farmers' Fertil- — 1 0 3 Regent Theatre 1 1 3 — Smith and Smith .. .... 1 2 0 — < Wilsons Cement 1 16 3 1 17 6 Woolworths (ord.) 6 0 0 6 18 0 G. J. Coles .... 4 5 6 — 0 18 0 — BREWERIES N.Z. Breweries 2 13 0 2 14 0 1 16 0 —

AUSTRALIAN MINING Electro. Zinc 2 8 6 2 9 6 Electro. Zinc (ord.) 2 5 9 2 7 0 Mount Lyell 1 16 3 1 16 11 Mount Morgan .. 0 14 7 0 14 9 Upper Watut — 0 3 9 Rawang Tin 0 10 8 0 11 2 4 18 0 — MINING Big River .. 0 2 0 0 2 1 Clutha River .. 0 2 5 — Gillespie's Beach 0 1 5 0 1 6} Lawson's Flat .. — 0 0 5 MINING Mossy Creek 0 1 3 — Mount David — 0 0 7 Nokomai 0 2 0 0 2 8 Okarito .. 0 3 6 0 4 3 Sandhills .. — 0 0 3 Waimu'mu Sluic0 0 6 0 0 8 Waipapa Beach .. 0 0 9 0 1 0 Waitahu .. i. — 0 2 0 Worksop .. 0 1 5 — GOVERNMENT LOANS 3J p.c. Stock, Nov., 1938-52 .. — 102 0 0 4 p.c. Bonds, 193740 100 15 0 — 4 p.c. Stock, 193740 100 15 0 — 4 p.c. Bonds, 1943101 10 0 .—. 4 p.c. Stock, 194346 101 10 0 — 4 p.c. Bonds, 1946101 10 0 — 4 p.c. Stock, 194649 .... .. 101 10 0 — 4 p.c. Stock, 1952103 0 0 105 0 0 ttCum dividend. > UNLISTED STOCKS Buyer Seller Associated Petrol (pref.) .. .. 1 10 0 1 14 9 National Tobacco (ord.) .. — 3 1 0 Otago Farmers .. — 0 4 6 Selfridges (old issue) .. 1 19 0 Woolworths (Sydney) .. — 7 12 0

Sales on 'Change & e ,i Stock, 15/2/43-46, 4 p.c. .. £/ 5. 101 10 Cl 0 E.S. and A. Bank .. .. 5 19 6 2 2 3 Westport-Stockton .. 0 1 5 0. 4 9 0 10 1U Waihi Investments .. •• Mt. Morgan 0 12 " ti 0 14 0 14 3 9 Unlisted Stocks Woolworths (Syd.) .. .. 7 5 0 7 6 0

Inscribed Stock, 4 p.c. (late Fri.) ..• 103 10 0 Colonial Sugar (late Fri.) 43 0 0 G. J. Coles (late Fri.) .. 4 5 0 (2) 4 6 0 G. J. Coles (cont, late Fri.) 3 4 0 M'Duffs (pref., late Fri.) .. 1 1 0 Macduffs (pref., 2) 1 1 0 Broken Hill Pty. .. . 3 18 9 (3) 3 19 0

Sales on 'Change Comm. Bank of Aust. .. 0 19 2 Westport-Stockton Coal 0 1 (i Staples Brewery .. . . 1 17 6 Dunlop Rubber (2) .. 0 17 7 G. J. Coles (cum div.) -.. 4 6 0 Shillings, Ltd •• 0 19 0 19 3 6 0 19 5 Mount Lyell (cum div.) 1 16 fi Mount Morgan .. .. (3) 0 14 0 14 8 85

Sales Reported Comm. Bank of Aust. (lat<? N.Z. Refrig. (£1 paid) .. Westport-Stockton Coal .. National Bank of N.Z. (cum 0 19 1 0 0 1 0 19 3 4 5 5 6 4 3 Unlisted Stocks Woolworths (Sydney, ord.) 7 4 0 Sales Reported Woolworths (Sydney, ord.) 7 5 0

LONDON, Dec. 5. £ s. d. , December 4 .. .. .. 7 1 91 December 3 .. .. .. 7 . 1 9\ , December 2 .. .. .. 7 1 8J December 1 .. .. .. 7 1 7 November 30 .. ..7 1 11 November 28 .. .. 7 2 0 November 26 .... 7 1 11J November 25 .. .. 7 2 1 November 24 .... 7 2 10J

shown):— t0 N.H. Sheep— in 0} > Canterbury and North o 0 0 Island selected crossQ z ■ 2 bred wethers and (Per lb.) maiden ewes: d. a. a 53 51 5J 5 4S 4; : 43 43 4| 44 4i5 4; North Island: 5 4b * 42 4ij 4; 44 43 4, Ewes. 41 44 4J 4 4 \l 32 32 3j N.Z. LambsCanterbury: 72 72 75 7 7 7 64 64 6i Second quality: Average about 311b .. .. — — ~~ Other South Island: m 72 72 • '■1 7 7 7 64 64 61 North Island Downs: — — — — — — ""* Second quality: Average about 301b .. .. — —~ Other North Island. First duality — — h — — 6i Second quality: — ~~ Australian LambsVictorian : First quality: 74 74 7 j 7 7a '" Argentine LambsFirst quality (New season's): 62 62 62 68 Gil 63 N.Z. Frozen BeefOx hinds (145-2101b) .. .. 33 3 8 33 Ox fores (145-2101b) ,. .. 22 22 2:1 — — — — "~ N.Z ChilledOx hinds (145-2101b) .. .. 43 5 4,1 Ox fores (145-2101b) .. .. 3J 31 ::j Argentine ChilledOx hinds (145-2101b) .. .. 52 58 •>i! Ox fores (145-2101b) 34 32 •'■* Uruguayan ChilledOx hinds <145-2101b) .. .. 51 5?, 5 Ox fores (145-2101b) .. .. 33 33 i-a Brazilian ChilledOx hinds (145-2101b) — — — Ox fores <145-2101b) — — "~ Australian FrozenOx hinds (145-2101b) .. .. 32 33 3a Ox crops (weights cort _ 22 22 <*4 Australian ChilledOx hinds (145-2101b) .. 43 42 44 Ox crops (weights corresponding) • • •• 31 31 22 Union ot South Africa ChilledOx hinds (145-2101b) .. .. — — f" Ox fores (145-2101b) .. .. — — 2 U Southern Rhodesia ChilledOx hinds (145-2101b) .. .. 42 4 8 42 Ox fores (145-2101b) .. .. n 3 ' B N.Z. Porker PigsFirst quality: 6 B 62 til 62 68 53 6g 64 63 Prime baconers: 63 61 64

RUGBY, Dec. 4. Paris— Par Dec. ?.. Dec. 4. Francs to £1 124.21 v 105 0-61 105 9-32 Brussels— Belgas to £1 20 2S.99J 2S.97 OsloKroner to £1 I3.1S0 19.90 19.90 StockholmKroner to £1 IS.130 19.394 19.39} i'open lia gen— Kroner to £1 18.150 22.40 22 40 BerlinMarks to £1 20.34 12.18i 12.18 MontrealDollars to £1 4.86 2-3 4.091 4.09% \ew YorkDollars to £] 4.86 2-3 4.90 9-16 4.90 1-16 YokohamaPence to yen 34.582 14 13 61-64 Hongkong— Pence to dollar ■ 24.58 14*15-64 14 15-64 BombayPence to rupee — 184 m Batavia— Florins to £) 12.10 8.97J 8.984 MilanLire to £1 82.46 83% 03% Amsterdam— Guilder to £J 12.10J io.a 9.01 Prague— Kroner to £ 1 I04J 138% 138 % lieneva — Fraiies to £1 25.22 J 21.334 ' 21.324 Vienna— Schillings to £1 .. .. 84.864 261 204 Helslngfors— Marks to £ 1 103.23 2263 2263 MadridPesetas to £ 1 25.224 55 Nominal BelgradeDinars to £1 25.224 213 213 AthensDrachma to 5171 £1 375 5175 Lisbon— Esctidos to . £1 110 110 3-16 110 3-16 BucharestLei to £1 U/3I.B 6674 607J ' Bio de JaneiroPence to milrels .. 5.S90 41 41 Buenos AiresPence to pesos 47.22 30 ShanghaiPence to taei __ 11 17-32 14 17-32 MontevideoPence to pesos 39 % 39% Warsaw — Zlotys to £1 — 26.06 26.06

London— Buying seiimii £1 N.Z. 10 £100 r.T. 124 124/10/ O.J 123/10/124/8/9 Australia — £ A to £100 N.Z r.i 101 10U/10/ O.D 101 100/10/ Fiji— £ Fto £100 N.Z. r.i 00/7/0 89 O.D 90/7/6 89 New Vork — Dollars to £ N.Z. T.T :i.no% 3.023 O.D. 3.07% 3.93} .MontrealDollars to £ N.Z. T.T. 3.00% 3.92% O.D. 3.07% 3.03% Austria— , Schillings to £ N.Z r.i. — 20.60 O.D. — 20.02 Belgium— Belgas to £ N.Z r.x. O.D. __ 23.138 23.140 Czechoslovakia — Crowns to £ N.Z T.T. ■—- 110.51 OH. — 110.56 DenmarkKroner to £ i> Z T.T. 18.203 17.893 O.D 18.203 17.903 France— Francs to £ N.Z. T.T. — 84.26 O.D. — 84.30 liermany— Uelehsmarks to £ N.Z .. .. T.T. — 0.70!) O.D — 9.714 HollandFlorins to £ N.Z. r. 1. O.D. — 7.192 7.190 Italy— Lire to £ N.Z T.l. OO. ■""" 74.01 74.G0 Java— Fiorina to £ N.Z T.T. — 7.153 O.D. — 7.157 Norway— Kroner to £ N.Z. T.T. 18.181 15.891 O.D 10.241 15.901 SwedenKroner to £ N.Z. T.T. 15.785 15.490 O.D. 15.845 15 500 Switzerland— Fraucs to £ N.Z. T.T. — 17.043 O.D. — 17.048 Noumea — Francs to £ N.Z T.T. — 82.SO O.D. — 82.93 Papeete— Francs to £ N.Z. T.T. — 83.04 O.D. — 83.10 Hongkong— , N.Z pence to 1 dollar •• •. T.T. 18 9-32 : 18 25-32 O.D. 18} 18 49-04 India and Ceylon— N.Z. pence to 1 rupee ,. .. r.T. m 22 21-3i O.D. 22 11-32 22 41-M If.pan— N.Z. pence to 1 yen .. T.T. — 17 29-64 0.0. — 17 7-16 Shanghai— N Z. pence to 1 dollar .. .. T.T. 0.0 17 13-16 17 25-32 18 0-13 18 19-64 Singapore— N Z. pence to 1 dollar .. .. T.T. OD 81 23-32 34% ; 35 13-01 85 3-10 I'hefoo— N.Z. pence to 1 dollar .. •• T.'l O.D 17 53-64 17 25-32 IS 29-64 18 7-16 All rates subject to i alteration without uutiec

Tot Copper. eI>ot- . £1.1 10 0 llise 0 3 1% Copper, forward .. .. , 4:; 13 '■'•% Iti^e 0 1 11% ICIectrolytlo. spot , 47 15 0 Fall 0 15 n lOloctrolytlc. forward .. 48 10 0 No e! lunge Wirt ban , 48 10 0 No c; bangs Leuj forward .. ., , 22 12 0 Fall 0 2 c Lead spot 22 11 a Fall 0 2 6 Spelter spot ., ., , 16 2 (i Tall 0 2 G Spelter forward .. ., , 10 8 0 Kali 0 2 0 Tin. spot , , 221! 2 G Kail 6 7 G Tin forward .. ., . 22li 2 0 Fall' •1 0 0 Silver, Hue , , 21 S-li id Rise 1-M Silrer. standard .. .. . 22 7-8 Fall l-8d

Commonwealth Bonds— 3| per cent, 1948 . 94 12 6 33 Der cent., 1949 .. .. . . 97 17 6 4 per cent, 1938 . 102 10 0 4 per cent., 1941 . 100 7 6 4 per cent, 1950 . 101 3 9 4 t>er cent.. 1953 . 101 11 3 4 per cent.. 1955 . 101 17 6 4 per cent.. 1957 .... . . 100 7 6 Associated' News . 1 3 6 Australian Glass . 4 6 6 . 2 6 0 Broken Hill Proprietary . . 4 0 0 . 3 8 3 . 0 17 9 General Industries .. . . 0 18 10J . 1 1 u . 0 17 3 Winchcombe Carson .. . . 1 15 6