COMMERCE AND FINANCE

Otago Daily Times, Issue 23118, 18 February 1937, Page 6

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Feb. 17. (Received Feb. 17, at 10.15 p.m.) The Stock Exchange was fairly buoyant, with more attention to bank shares, which are moving upward. Industrials were irregular, while Barriers responded to the firmer metal prices. THE MORNING SALES £ s. d. Commonwealth Bonds—--4 p.c., 1941 101 15 0 4 p.c., 1944 101 7 6 4 p.c., 1950 101 2 6 4 p.c., 1961 101 0 0 Bank of Australasia .. ..13 4 0 Commercial Bank of Sydney 23 0 0 E.S. and A. Bank .... 0 8 0 Australian Gas (A) .. .. 7 8 0 Tooths 2 17 8 Associated News (pref.) .. 13 IU4 Berlei 2 ° | British Tobacco o o David Jones Ton David Jones (new) .. .. 1 “ u Dunlop Perdriau 0 1J Electrolytic Zinc 2 17 o General Industries (New Zealand delivery) .... 1 JJ J Coles .. 5 9 0 Greater Williams 0 6 10 Hume Pipe n 17 ,nf James Stedman 0 17 10 2 Newbold Brick (ex div.) .. 116 3 ADDITIONAL SALES £ s. d. Bank of New South Wales 37 0 0 Commercial Bank of Sydney .« «• .. • • »• ■ Commercial of Australia .. 019 6 Colonial Sugar ’3 5 0 Associated News . - • (pref.) 1 3 104 Burns. Philp South Seas .. 116 0 Australian Gas (A) .. .. 7 5 6. British Tobacco 2 13 5 Tooths - .. ? 17 6 Tooheys 7 « « Carlton Brewery 3 b 0 Coles 57 b Australian Iron and Steel ■ (pref.) 170 Morris Hedstrom | |0 *4 Fairymead Sugar J “ “ David Jones " ; 5 Anthony Hordern 1 1 j Standard Cement 0 17 6 General Industries .. .. } “ New Zealand delivery 10 9 Beard. Watson ? 7 Cash Orders 7 17 a Mauri Brothers 1 To n Sargeants } n a Waldas } ® S Hume Pipe o in n Woolworths .. ?la n Selfridges 1 19 6 Mount Morgan 0 17 6 New Zealand delivery ~ 017 4J Mount Lyell 2 6 9 Kuala Kampar 13 9 Rawang .. 012 u Larut ? Loloma ... ... 1 3 10J Mandated Alluvial .... 0 3 - MELBOURNE, Jeh. 17. Bonds were quiet and industrials generally steady, with Broken Hill Proprietary better, but Coles easier. Fijian Golds were easier on the Loloma issue. Commercial Bank of Australia .. 019 b National Bank (£lO paid) 15 16 0 Howard Smith 3 . “ Carlton Brewery 3 ° “ Coles •• 5 b 0 Dunlop Perdriau 9 IS S Goldsbrough, Mort .. .. J|° 5 Electrolytic Zinc .. •• •• 21/ 3 • (pref.) 219 9 Mount Morgan .. .. • • 017 6 Mount Lyell 2 7 1* Broken Hill Proprietary .. 4 5 9 North Broken Hill .. .. 4 1 0 South Broken Hill .... 2 9 0 Tongkah Harbour .. .. •• j 3 0 Emperor } X 9. Loloma | H Satupulo 1 15 0 DOLLAR AND FRANC (United Press Association) 'By Electric Telegraph .-Copyright) LONDON, Feb. 16. Exchange on New York is quoted at 4.89 s dollars to the £ arid on Pans at 105| francs. ■ 1 Fraser and Co., selling agents for Otago and Oamaru Egg Circles, report <is under:—, . ~, Eggs; Poultry farm eggs, Is bd per dozen; others, Is 3d to Is 4d per dozen; pullet eggs, Is per dozen. Butter: Separator pats, 9d to 9|d per lb. Tallow, 15s to 17s per cwt. Pigs; Good bacon-weights, 6Jd to .7d per lb; overweights, 2d to 3d; porkers, 6|d per lb. Potatoes. 6s to 6:3 6d per cwt. Chaff, £5 10s per ton, sacks extra. Whole fowl wheat. 6s per bushel. Auckland onions, 16s to 17s per cwt. Poultry; White Leghorn hens, 2s od to 3s; heavy breeds, 4s to ss; cockerels -light 3s 6d to 4s, heavy 7s to 9s_: roosters, Is 4d to 2s; ducks, 3s to 4s. ducklings. 5s to 6s; all per pair. Turkey gobblers. 8d to 9d per lb. live weight: hens. 7d to 8d per lb. . We stock “Palmer’s” chick food, “National” meat meal, leg rings, Is per dozen (special quotes for quantiWe are Otago agents for: “ Gamble ” electric incubators and the Betteridge” egg cleaning table; particulars on application. . J We are agents for: " Champion egg crates, “ Isco ” cod liver oil for poultry; prices on application. . , Consignors, please note that all pig= 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.

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Bank of Australasias were turned over on the Dunedin Stock Exchange yesterday at £l3 2s 6d, New Zealands at £2 0s 6d and £2 0s 7d, and Commercials at 19s 4d. New Zealands continued in demand at £2 0s 6d, with a seller at £2 0s 9d, and Commercials remained firm, with a buyer at 19s 4d and a seller asking 19s 6d. A parcel of Standard Insurances realised £2 18s 9d, further offers of 3d less finding sellers firm at £2 19s bd P and O. Deferred Stock was asked for at £1 16s, but no seller responded. There was a considerable easing in the market for G. J. Coles, which were sold at £5 8s 6d The close of the market found this price being offered, with sellers asking £5 9s. Regent Theatres were firmer at £ 1 0s 6d, with no seller in the market. Up to £7 3s was offered for ordinary Woolworths, which could not be obtained for less than £7 ss. , , . New Zealand Breweries eased back to a buying quotation of £2 17s, a sale having taken place earlier in the day at £2 19s 6d. The best selling quotation was £2 19s. ■ . . Mount Lyells were again k® en y sought, and up to £2 6s 3d was offered, with sellers firm at £2 6s 7d.

DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payable:— Gillespie’s Beach —ld per share .. • Feb. 24 National Mortgage (£2) p.c,, Is 6d per share, half- , o . yearly Feb. 2a National Mortgage (£l)—6. ( p.c,, 9d per share 1 eb. 2a Bank of N.S.W.—lnt„ quarterly, 6d per share Feb. /b Christchurch Gas. ini. at rate of 7 p.c, per annum Mar 1 Electrolytic Zinc —Ord. and prof.; 12 p.c., Is 2 2-ad per share, half-yearly .... .. Mar. 18 Broken Hill South share Mar. 24 NORTHERN EXCHANGES AUCKLAND Sales on ’Change

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

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 £ 1 (Per £1 N.Z.) N.Z.) Selling— Dols. Dols TT 3.92 § 3.92 g O.D 3.934 3.93 J Buying— T.T 3.96 J 3.964 O.D. .. 3.97 S 3.973 LONDON METAL MARKET (United Press Association) (By Electric Telegraph—Copyright) LONDON. Feb. 10. The following ere the official meial quotation?!—

COLOMBO TEA SALE Mr L. M. Wright has received the following cabled report on the Colombo tea auction of January 16: At yesterday’s sale 1,500,0001 b were offered. All grades were in keen demand, and commons advanced <jd. while medium and fine quality teas were 3d to Id dearer. London buyers were particularly active. Next week’s sale is for the same quantity, 1.500,0001 b.

CANADIAN MINES RECORD PRODUCTION 360,500,000 DOLLARS BETTER PRICES FOR METALS Valued at 360.340,000 dollars (approximately £90,135,000), the total production of Canadian mines and quarries last year constituted a record that easily surpassed the aggregate value of the previous year, when production reached a record peak level. In a recent report the Dominion Bureau of Statistics states that last year’s total value represented a daily average of almost 1,000,000 dollars (approximately £250,000), and an increase of more than 15 per cent, over that of 1935. This result was due partly to increased output of many mineral products and partly to better price, for several metals, and the improvement was well spread over the various mining activities of Canada. Gold production, representing 51 per cent, of the total value of all metals produced, showed a gain of 13 per cent, in value, every gold-producing province contributing to this increase. Total production at 3/720,505 fine dunces was a Canadian record. Output of silver at 18,089,000 fine ounces, more than half of which came from British Columbia mines, showed an increase of 9 per cent., while platinum output was an all-time record. Lead, zinc, and nickel all recorded an increase in both volume and value, but copper production actually decreased about 5,000,0001 bto 414.137,0001 b; this, however, was offset by higher prices, and the value rose from £32,312,000 to £38,665,000. Not since 1929 has the output of coal been as high as last year’s figure of 15,052.000 tons, which is 8 per cent, above that for 1935. LONDON STOCK EXCHANGE (United Press Association) (By Electric Teleeranh C'oDvrignt)

ANTWERP FUTURES (United Press Association) (By Electric Telegraph-Copyright) LONDON. Feb. 16. Antwerp futures are quiet. March, 31§d; May, Slid; July, Slid. NEW GUINEA GOLD SHARES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Feb. 16. New Guinea Gold shares are quoted at 3s lid. MOUNT LYELL SHARES (United Press Association) (By Electric Telegraph—Copyright) LONDON. Feb. 16. Mount Lyell shares are quoted at 36s 10id. PRICE OF FINE GOLD

ADDINGTON* STOCK SALE (Pen United Press Association) CHRISTCHURCH, Feb. 17. Most sections were firm at the Addington stock sale to-day. The store sheep entry was the largest this season and numbered 16,000. The quality was mixed, but a fair proportion was good sheep. All good lines sold well up to late rates. Lambs were forward in about the same numbers as at last week’s sale, and there was a keen and firm demand for good lambs, but others were to Is 6d a head lower. Two-tooth ewes made to 455. . The fat lamb entry of 1600 head showed better quality than last week, and there was a very keen sale, with best light lambs 6d to 9d dearer. Values were: Extra prime heavy to 34s 7d, prime heavy 29s to 31s, prime mediumweight 26s 6d to 28s 6d. ordinary 24s 6d to 265, light to 255. The fat sheep entry was the heaviest this season, but the quality was mixed, with a large proportion of secondary sorts. For pest kinds there was a very free sale at fully last week’s rates. Exporters operated steadily for suitable sorts. Values were: Extra prime heavy wethers to 37s Id prime heavy 28s 6d to 30s. prime, medium-weight 26s to 28s ordinary 23s to 25s 6d light to 22s 6d: prime heavy ewes 23s 9d to 255, prime medium-weight 21s to 23s 6d. ordinary 19s 6d to 20s 9d. light to 10s. A small entry of fat cattle made values rise £1 to 25s all round on a keen market. Values were; Extra prime heavy steers to £ls 7s 6d, prime heavy £ll 5s to £l3 10s. prime medium-weight £lO 10s to £l2, ordinary £8 to £lO. light to £7 15s, extra prime heifers to £l2 2s 6d. prime £8 to £9 10s, medium £6 to £7 15s, light to £5 15s; extra prime cows to £ll 2s 6d. prime £6 5s to £B. ordinary £4 15s to £6. light to £4 10s There was a medium entry in the pork section, and prices showed a slight easing. Baconers were yarded in large numbers, and. considering thfc entry, the market was good. Values: Choppers 54s 6d to £4 8s 6d, porkers 31s 6d to 34s 6d, heavy 36s 6d to 46s 6d, average per lb 5Jd to 6}d. Baconers made 48s 6d to 56s 6d, medium 58s 6d to £3 5s 6d, heavy £3 9s 6d to £4 4s 6d, average per lb 51d to 6d. STEEL PRODUCTION Increasing by 24,000,000 tons, the world’s steel production in 1936 rose to almost 124.000,000 tons, states an authoritative European publication, and was thus more than 1,500,000 tons higher than the previous record figure, established in 1929. The United States increased its production by 14,000,000 tons to 48,500.000 tons, and thus continues to be the world’s greatest producer. By increasing her output by 2,750,00(1 tons to over 19,000,000 tons Germany holds first place among European countries, followed by Russia with an output of 16,000.000 tons, and Great Britain with 12,000,000 tons. The world’s nig iron production of 91.000. tons was nearly 17,000,000 tons higher than in 1935. Here the leading figures were:—United States. 32.000. tons; Germany, 15,000.000 tons; Russia, 14,500,000 tons; and Great Britain, nearly 8,000.000 tons. GOLD YIELD OF NEW SOUTH WALES Production of gold in New South Wales for December is estimated at 5724.750 z fine, valued at £50,402. compared with 6395.150 z fine, valued at £55,931, for December, 1935. The production for 1936 amounted to 60,739.060 z fine, valued at £527,386, compared with 50,101,750 z fine, valued at £439.945. for the previous year.

SALES ON ' CHANGE d. £ s. Commercial Bank .. . .. .. 0 19 4 5 8 0 13 6 2 2 0 iU 5 9 SALES REPORTED Bank of Australasia (2) .. 13 2 6 Bank of New Zealand 2 2 0 0 6 7 Standard Insurance . 2 18 9 Associated News (pref.) .. 1 8 IUJ Broken Hill Proprietary .. 4 4 b N.Z. Paper Mills .. 1 8 3 N.Z. Breweries .. . 2 19 6 2 6 0 Hawang Tin (2) .. . 0 12 0 Walmumu 0 41 per cent. Dunedin City, " 1950 105 10 0 The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:BANKING Buyer. Seller. £ s. d. £ s. d. A’asia (£5) — 13 10 0 N.S.W. (£20) .. .. 33 10 0 36 10 0 N.Z. (£1) 2 0 6 2 0 9 Commercial (10s) 0 19 4 0 19 6 E.S. and A. (£3) ... 6 6 0 — 9 Natl, of N.Z. (£2 10s) 3 0 0 3 2 Union (£3) .. .. •• 10 12 0 10 17 0 INSURANCE National (7s) .. .. — 0 18 3 New Zealand (£1) .. 3 1 3 3 2 3 South British (£1) .. 4 16 0 — 6 Standard (£1) 2 18 6 2 19 SHIPPING Howard Smith (£1).. — 1 3 3 P. and 0, Del. Stock (£1) 1 16 0 — U.S.S. Co. (pref.; £1) 1 6 0 MEAT PRESERVING 6 Gear Meat (10s) .. — 0 17 N.Z. Befrig. (paid £1) — 1 0 5 N.Z. Refrig, (cont; 9 10s) — 0 5 South. Froz. Meat (paid; £1) 3 16 6 — South Otago Freezing (£5) — 7 12 6 Waltaki Farmers (£5) 4 2 0 LOAN AND AGENCY Goldsbrough. Mort (£1) 1 17 9 1 18 3 Mortgage Corporation 0 3% Stock — 98 10 N.Z. Loan and M. (ord.; £100) .. .. 44 0 0 45 0 0 N.Z. Guarantee Cor6 poration (3s) .. .. 0 5 3 0 5 Perpetual Trustees (18s) 3 4 0 Wright, Stephenson 0 18 (ord.; £1) .. .. 3 — Wright, Stephenson (pref.; £1) .. .. 0 19 0 1 0 3 Otago Farmers (3s 4d) 0 3 9 — COAL Kaltangata (16s) 1 2 0 — 9 Westport (10s) .. .. — 1 4 WOOLLEN COMPANIES Bruce (ord.; £1) .. — 0 13 3 Bruce (pref.; £1) — 1 2 9 Kaiapoi (ord.; 17s) .. 0 14 0 0 14 9 Kaiapol (cont.; 7s) ... — 0 6 0 Kaiapoi (pref.; 17s) .. — 0 18 0 Mosgiel (£4) .. .. 9 18 0 — . MISCELLANEOUS Anthony Hordern (£1) 1 0 8 1 1 0 Associated News (pref.; £1) .. .. 1 3 9 — Australian Glass (£1) 4 12 6 4 14 6 Broken Hill Prpy. (£1) 4 4 0 4 6 0 Broken Hill Prpy. * (cont.; 10s) .. .. 3 11 6 — Brown, Ewing (ord.; £1) 1 0 6 — Brown, Ewing (pref.; £1) 1 2 6 — Consolidated Brick (£1) 0 10 0 0 11 0 D.I.C. (ord.; 10s) .. 0 16 0 0.I.C. (pref.; £1) .. — 1 4 3 Dominion Fertiliser (£1) 1 4 0 1 4 9 Dunlop Perdriau Rubber (£1) .. . .. 0 19 0 0 19 3 General Industries (12s 6d) 1 0 1 1 0 5 G. J. Coles (£1) .. 5 8 6 5 9 0 Hume Pipe (£1) 1 1' 3 — Mllburn Lime (£1) 2 2 0 — Mort’s Dock (£1) .. ■ 0 13 9 National Electric (£1) — 0 15 3 N.Z. Drug Co, (£2) .. 3 16 0 — N.Z. Paper Mills (£1) 1 8 0 1 8 a Regent Theatre (£1) 1 0 6 — Wilsons Cement (10s) 1 19 0 Wool worths (ord.; £1) 7 3 0 7 5 0 Shillings, Ltd. (£1) 0 18 9 — BREWERIES N.Z. Breweries (£1) 2 17 0 2 19 0 Staples (£1) . .. —* 1 16 3 Dominion (£1) .. .. — 2 5 0 Dunedin (£1) .. .. — 1 9 6 Carlton (£1) .. .. — 3 6 0 AUSTRALIAN MINING Broken Hill South (£1) 2 8 6 2 10 0 Electro. Zinc (pref.; £1) — 2 19 6 Electro Zinc (ord.; £1) 2 16 0 2 17 3 Emperor (10s) .. .. — 1 1 0 Mount Lyell (£1) .. 2 e 3 2 6 7 Mount Morgan (2s 6d) 0 17 0 0 17 6 Rawang Tin (10s) 0 11 9 0 12 6 Placer Developments — 5 3 0 Sulphide Corporation 0 12 6 0 15 0 MINING Argo (Is) — 0 2 1 Big River (Is) .. .. — 0 1 8 Clutha River (2s) .. 0 2 9 — 7 Gillespie’s Beach (Is) 0 1 6 0 1 King Solomon (Is) .. — 0 0 Molyneux River (2s) 0 2 4 't Maori Gully (Is) — 0 0 Nokomai (5s) .. .. 0 2 3 ’0 2 6 Okarito (5s) 0 3 9 0 4 3 Paddy’s Point (5s) .. . 0 2 9 Sandhills (Is) .. .. — 0 0 3.1 Skippers (Is) .. — 0 0 4 Walmumu Sluicing 0 (Is) — 3 1 i Waltahu (5s) .. •• 0 1 0 2 G Worksop (Is) .. •• 0 1 7 GOVERNMENT LOANS 3J p.c. Stock. Nov., 6 1938-52 101 0 0 101 17 31 p.c. Stock. Mar.. 102 1939-43 — 0 0 3i p.c. Stock. Sept., 102 0 1939-43 — 0 3j p.c. Stock. May. 102 1939-52 — 5 0 31 p.c. Stock, Mar., 1941-43 101 0 0 — p.c. Stock, Sept., 0 1941-43 101 0 — 31 p.c. Stock, May, 101 0 0 1941-52 — 3i p.c. Stock, Nov.. 0 1941-52 101 0 103 15 0 4 p.c. Stock. 1948 -49 .. — 4 p.c. Stock, 1952-55.. — 103 10 0

£ s. d. Auckland Harbour Board, 102 0 0 1941, 4j p.c Bonds, 1946-49, 4 p.c. 103 0 0 Bonds. 1952-55, 4 p.c 103 0 0 Stock, 1938-52, 3J p.c. 101 12 6 Bank of New South Wales 36 36 0 4 0 0 Bank of New Zealand (odd 0 2 6 2 0 6 2 0 7 New Zealand Insurance .. 3 1 9 10 14 6 Taupiri Auckland Gas 0 14 1 1 6 0 Kauri Timber 1 3 9 Dominion Brewery (rights; 3) 0 10 9 2 17 3 Anthony Hordern .. . • 1 0 7i Australian Glass 4 14 0 Australian Steel (pref.) 1 7 4 British Tobacco 2 12 0 0 6 Broken Hill Pty. (2) .. .. 4 4 4 4 Claude Neon (N.Z.) .. 1 12 0 0 0 Consolidated Brick •. .. 0 10 6 Dunlop Perdriau 0 19 2 Electrolytic Zinc .. i . .. 2 2 16 16 3 9 Electrolytic Zinc (pref.) .. 2 18 2 19 3 1* Farmers’ Trading .. • Farmers’ Trading (B pref.) 1 3 6 1 2 0 0 6 G. J. Coles 5 5 8 8 5 9 0 5 7 0 5 6 6 5 6 0 Milne and Choyce (deb.) 0 16 0 (2) 0 16 3 Macky Logan Farmers’ Fertiliser .. .. 1 3 0 0 1 0 Sharland I) 19 u Taranaki Oil I) 2 9 Woolworths (N.Z.) .. .. 7 3 6 Martha .. 1 0 3 N.Z. Crown Mines .. .. 0 2 5 Mount Morgan .. .... u u 0 Unlisted Stocks 18 Selfridges (A’asia; new) .. 1 0 Selfridges (N.Z.; 4s pd.) .. 0 5 4 Woolworths (Syd.) .. .. 8 9 6 WELLINGTON Bank of New Zealand (late 6 Tues.) .. .• • •• • • 2 0 Broken Hill Pty. (late Tues., 2*) .. ' Broken Hill (late Tues., 2) 4 4 6 4 4 8 Consolidated Brick (late 8 u iu G. J. Coles (late Tues.) .. 5 8 6 (late Tues.) 5 7 9 N.Z. Paper Mills .. .. 1 8 1 0 Taranaki Oil 0 3 3i p.c. Stock, 1938-52 101 15 0 Bank of N.Z. (5) 2 2 0 0 6 5 2 6 7 Commercial Bank of Ausu la 4 Bank of N.S.W 36 5 0 Union Bank 10 17 0 N.Z. Guarantee Corp 0 0 N.Z. Investment Mortgage 0 9 0 0 N.Z. Insurance 3 2 U 17 2 Tooths 2 17 0 Tooheys 1 17 2 19 9. 19 3 N.Z. Breweries 0 1 2 18 10 4 4 6 4 4 9 (3) 4 5 0 (2) 4 5 3 Colonial Sugar 43 0 0 Q r (2) 5 7 6 6 8 6 Sharland (ord.) 0 19 0 N.Z. Paper Mills .. .. •• X 8 1 Woolworths, Ltd. (2nd pref., 2) 1 6 9 1 0 3 2 6 0 0 17 0 Unlisted Stocks Woolworths (Sydney, late 8 10 9 (late Tues.) 8 10 6 CHRISTCHURCH Sales on ’Change Com. Bank of Aust (4) .. 0 19 4 National Bank of N.Z. 3 2 0 6 7 Bank of N.Z, (3) .. 2 2 0 0 National Insurance" (2) 0 18 1 0 N.Z. Insurance (2) .. • • 3 1 z Goldsbrough, Mort .. ... 18 0 Kaiapoi Woollens (17s paid) 0 14 1 6 Westport Stockton Coal .. 0 ii N.Z. Breweries (2) .. .. z 2 19 3 1 2 18 10 Staples Brewery .. • • 1 15 0 6 8 6 9 0 Anthony Hordern .. • • 1 British Tobacco Z IZ Broken Hill Prop. .. •• 4 6 5 Dominion Fertiliser .. • • i 4 0 Dunlop Rubber 0 19 3 General Industries .. •• 1 1 0 0 2 3 fi J Cnlf"? 5 7 0 (5) 5 7 6 (9) 5 7 0 Morris Hedstrom 1 10 0 N.Z. Farmers’ Co-op (10s 0 paid: odd parcel) .. . • 0 6 Woolworths (N.Z. ord.) 7 3 9 Okarito 0 4 0 Skippers (5) 0 0 3i Mount Lyell (2) 2 2 5 5 7 7* (2) 2 6 3 (9) 2 6 4 Mount Morgan (4) .. .. (6) 0 17 0 16 0 ns Rawang Tin 0 12 0 Sales Reported N.Z. Govt, 4 p.c. Inscr. 1943101 15 4fl 0 N.Z. Govt. 4 p.c. Bonds. 1948 102 0 0 Bank of Australasia (2) .. 13 2 6 Bank of N.Z. 2 0 9 10 14 6 Australian Glass 4 13 6 Broken Hill Prop 2 12 0 Dunlop Rubber 0 19 3 G. J. Coles (3) 5 5 7 7 6 0 (2) 5 7 6 Morris Hedstrom 1 10 1 0 0 9 Unlisted Stocks Selfridges (A'asia. old: cum 1 19 6 Sales Reported Selfridges fN.Z.: 4s paid) . . 0 5 5 (late Tues.) 0 5 8

Paris— Par RUGBY, Feb. 13. Feb. 16, Feb. 16. Francs to £1 124.21 105 9-G4 105 7-64 Brussels, — Belgas to £ 1 30 29.03 29.023 Oslo— Kroner to £ J 18.180 19.90 19.90 Stockholm— Kroner to £ 1 18.130 19.39} 19.39} Copenhagen— Kroner to £ 1 18.150 22.40 22.40 Berlin— Marks to £ 1 20.34 12.16} 12.17 Montreal— Dollars to £ 1 4.80 2-k 4.89% 4.89% New York— Dollars to £) 4.SB 2-3 4.89 9-Hi 1.S9J Yokohama— Pence to yen 34.582 13 31-32 14 Uongkong— Pence to dollar 24.58 14 15-04 11 15-64 Bombay— Pence to rupee _ 18 9-61 IS 9-61 Batavia— Florins to £ 1 12.10 S.OOi 8.92} Milan— Lire to £i 82.40 93 93 Amsterdam— Guilder to £ 1 12.105 8.974 8.96i Prague— Kroner to £ 1 101} 110% 110% GenevaFrancs to £1 25.22 J 21.48 21.40} Vienna— Schillings to £1 .. 81.86} 26} 26} Helsingfors— Marks to £ 1 193,23 220} 226} Madrid— Pesetas to £1 25.22} 93 11-32 93 11-32 Belgrade— Dinars to £ 1 25.22} 213 213 Athens— Drachma to £1 375 517} 547} Lisbon— Escudos to £1 110 110 3-10 110 3-16 Bucharest— Lei to £1 631.6 070 670 Rio de Janeiro— Pence to mllrels 5.890 a 4i Buenos Aires— Pence to pesos 47.22 _ - Shanghai— Pence to tac) 14% Montevideo— Pence to pesos — 39% 39% Warsaw— Zlotys to £1 — 26.06 26.06

ON NEW ZEALAND CURRENCY BASIS The Bans of New South Wales, Dunedin. quoted,the following rates for purchases and sales of foreign exchange yesterday:— London— Buying Selling £1 N.Z. to emu Stg ■. r.’t 124 124/10/O.D 123/10/124/8/9 Australia— £ A to £100 N.Z. T.T 101 100/10/O.D. 101 100/10/FIJI- £ F to £100 N.Z T.T. 90/7/6 89 O.D 00/7/6 89 New Tors— 3.92 J Dollars to £ N.Z. T.T 3.96% )D 3.97% 3.93 Montreal— ' 3.92% Dollars to £ N.Z T.T. 3.96% O.D. 3.97% 3.93% Austria— Schillings to £ 20.58 N.Z T.T. — O.D, — 20.00 • Belgium— 23.186 Belgas to £ N.Z. T.T — O.D- — 23.197 ■Czechoslovakia— 111.80 Crowns to £ N.Z. T.T. — O.D. — 111.85 Denmark— 17.893 Kroner to £ N.Z. T.T. 18.203 O.D. 18.263 17.903 France— 84.21 Francs to £ N.Z. T.T — O.D. — 84.25 Germany— Reichsmarks to £ 9.705 N.Z. .. .. T.T. — 0.3. — 9.710 Holland— 7.151 Florins to £ N.Z. t. r. 7.301 O.D. 7.361 7.155 Italy— Lire to £ N.Z. T.T. 74.51 O.D — 74.56 Java— 7.105 Florins to' £ N.Z. T.T 7.265 O.D. 7.325 7.109 Norway— 10.891 Kroner to £ N.Z T.T. 16.181 O.D 16.241 15.901 Sweden— 15.785 15.490 Kroner to £ N.Z. T.T. O.D 15.845 15.500 Switzerland— 17.426 17.158 Francs to £ N.Z. T.r. O.D. 17.531 17.161 Noumea— 82.84 Francs to £ N.Z. T.T. — OD. — 82.90 Papeete— T.T. 82.99 Francs to £ N.Z — O.D. — 83.05 Hongkong— N.Z. pence to 1 dollar .. •• T.T. O.D. 18 17-64 18 49-64 18 15-64 183 India and Ceylon— N.Z. pence to 1 rupee .. .. T. r. O.D 22 13-32 22% 22 11-16 22 43-64 Japan— N.Z. pence to 1 T.T 17 15-32 yen • • <• o.d: - 17 29-64 Shanghai— N.Z. pence to 1 dollar .. T.T. O.D 17 53-64 IT 51-64 18 21-64 18 S-16 Singapore— N.Z. pence, to 1 dollar .. •• T.T. O.D 34 23-32 34% 35 13-64 35 3-16 Chefoo— N.Z. pence to 1 dollar .. •• T.T. O.D. 17 53-64 17 25-32 18 29-64 18 7-16 All rates subject to alteration without 1 notice.

Copper, spot Ton. £57 19 414 Itise 2 1 3 Copper, forward ,. . 57 19 414 nise 2 0 0 Electrolytic, spot . 62 10 0 Rise 1 10 0 Electrolytic, forward. 63 10 0 Rise 2 0 0 Wire bars 63 10 0 Rise 2 0 0 Lead, spot 27 7 0 Rise 0 7 0 Lead forward .. • 27 7 6 Illse 0 7 6 Spelter, spot .. . 24 8 9 Kiae 0 15 0 Speller, forward .. . 24 12 0 Rise 0 13 9 Tla spot .. .. . 230 10 0 Rise 0 17 0 Tin. forward .. . 231 10 0 Rise 0 17 6

LONDON, Feb. 16. £ s. d. Dalgety 4 per cent 101 10 0 British Tobacco 2 1 3 Goldsbrough Mort .. .. 1 13 6 Dalgety 9 2 6 P. and 0. Deferred ,. .. 1 10 6

February 16 . LONDON, : £ 7 Feb. 16. s. d. 2 0i February 15 . . .. .. 7 2 1J February 11 . 7 1 11 February 10 . 7 2 Oi February 9 . 7 2 1 February 8 . 7 2 1 February 6 . 7 2 1J February 4 . 7 2 0