COMMERCE AND FINANCE

Otago Daily Times, Issue 23220, 18 June 1937, Page 14

COMMERCE AND FINANCE

THE SHARE MARKET

local: and overseas markets

THE RESERVE BANK ASSETS AND LIABILITIES (Per United Press Association) WELLINGTON, June 17. The Gazette issued to-night contains the following statement of liabilities and assets of the Reserve Bank of New Zealand as at the close of business on June 14. The figures at the close of the previous week are given for purposes of comparison, shillings and pence being omitted: — LIABILITIES

LONDON METAL MARKET (United Press Association) (By Electric Ttflegrsph-CBpyrlght) LONDON, Juno 10,

PRICE OF FINE GOLD (United Press Association) (By Electric Teleßr&ph—Copyright)

UNITED STARR-BOWKETT BUILDING SOCIETY A meeting of members of the United Starr-Bowkett Building Society was held in the secretary's office last evening to dispose of £2OOO by ballot and sale. A ballot was held for the 126th appropriation in No. 5 group. Cluster No. 25 was drawn, being held by one member. A further ballot for the 127th appropriation in the same' group resulted in cluster No. 8 being drawn. This was also held by one member. The seventy-eighth appropriation in No. 8 group by ballot resulted in cluster No. 40 being drawn, and this was held by one member. A sale for Ihe seventy-ninth appropriation in No. 8 group brought £lB per £IOO for £SOO.

AUSTRALIAN MARKETS (United Press Association) (By Electric Telegraph-~Copvrtght) SYDNEY, June 17. (Received June 17, at 11.30 p.m.) The wheat market is firmer, but quiet. Bagged, nominally 5s 4d. Silo, 5s lid. Flour, £l2 ss. . Bran. £6 15s. Pollard, £7. Potatoes.—Tasmanian, £5; cithers, £4 9s. Onions—Brown, £l2 10s; white, £lB. Maize—Yellow, 6s 3d; white, 6s.

DUNEDIN STOCK EXCHANGE

The easier prices ruling on the Dunedin Stock Exchange yesterday induced buyers to enter the market with renewed activity, and the total number of sales recorded was the highest for any day of the present week. With a few exceptions, prices for shares were on a level with those of the previous day, and in a few cases a slight firming was discernible. Local sharebrokers are confident, however, that a rise in most sections will eventuate within the near future. The banking section was quiet again, the only buying quotation being for Bank of New Zealands, which were wanted at £2 4s, but holders displayed no interest. Sellers of Union Banks eased to £ll, with no buyers forward, and Bank of New South Wales were offered at the firmer price of £37. South Otago Freezing shares were inquired for at £7 14s, no buyer being forward, and the paid shares of New Zealand Refrigerating, after reported business at 18s lid, were asked for at 18s lid, but sellers were not interested. Two parcels of Westport Coal shares changed hands at £1 3s, but at the call-over, when there were no sellers forward, buyers would not go beyond £1 2s 9d. There was an easier inquiry for Dominion Rubbers at £1 lis 6d, and Dunlop Rubbers, with buyers at £1 Is and sellers Is away, were also easier. Buyers of G. J. Coles increased their previous offer by Is to £5 6s, but sellers remained firm 2s away. Milburn Lime shares were a little firmer, but Shillings Ltd. eased to buyers at 18s and sellers at 18s 4d. No buyers were forward for the ordinary shares of Woolworths, sellers of which eased to £8 3s. Several transactions were recorded in New Zealand Breweries (rights) at £1 Is 3d, the market closing with buyers at this figure and holders wanting Id more. Broken Hill South shares firmed 6d both ways, and both issues of Electrolytic Zincs were slightly firmer on the previous afternoon's quotations. Mount Lyells were practically the same, and Mount Morgans were fractionally firmer, with buyers at lis 3d and sellers 9d away. In the unlisted section M'Kenzie's Departmental Stores had reported business at £4 Os 9d.

UNLISTED STOCKS M'Kenzie's Departmental Stores 4 0 9 The following are yesterday afternoon's buying and selling quotations, which are subject to the usual brokerage:—

NORTHERN EXCHANGES AUCKLAND

WELLINGTON

CHRISTCHURCH Sales on 'Change

DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payable:— Broken Hill South—ls 3d per share • June 18 Mount Lyell—ls 6d per share, interim • • • June 21 Wilsons Cement 9d .per share, final June 23 Australian Glass (ord.)— 9 per cent., final June 23 Australian Glass (pref.)— Final, 4£ per cent June 23 Gear Meat—s per cent., 3d per share, half-yearly .. June 25 Gillespie's Beach share .. •. ' June 25 Goldsbrough, Mort 8 per cent.. Is g 2-5 d per share, yearly June 25 Kauri Timber 7Jd per share, half-yearly June 25 North Broken Hill—No. 106, of Is 6d per share quarterly June 25 British Tobacco—Quarterly, 2 per cent., 8 per centner annum June 30 Blackwater—lo per cent., Is per share, half-yearly .. June 30 Consolidated Goldflelds per cent., 6d per share, half-yearly June 30 Woolworths (W.A.) 2s per share June National Mortgage (A issue) —ls per share, half-yearly July 1 National Mortgage (B issue) —6d per share, half-yearly July 1 National Bank—4 per cent., Is per share, half-yearly .. July o Mount Morgan 4£d per share, half-yearly .. .. July iu Woolworths (N.Z.) ' cent, Is per share, halfyearly July 15

Unlisted Stocks M'Kcnzic's Department Stores 410 Woohvorths (Syd.; ord.: 2) 619 3 FOREIGN EXCHANGES (Britisn Oiliuui Wireless) (United Press Association) (By Electric Telegraph Couvilßiitl RL'fißY. June 1«.

ON NEW ZEALAND CURRENCY BASIS The BanU of New South Wales, Dunedin, luotcd (he following rates for purchases and sales of forelKU exchange yesterday:—

Ail rates subject to alteration without notice DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar fates yesterday on a New Zealand currency basis They are subject to alteration without notice:—

MINING NEWS THE XOKOMAI GOLD MINING COMPANY The directors of the Nokomai Gold Mining Company state in their fifth annual report that, after hydraulic elevating had been carried on till the end of December last, operations were temporarily suspended, and in the new year a start was made to erect the new gravel pumps. The gold won during the year amounted to- 1030 oz 19dwt, valued at £7217 12s 9d, which represents nine months' actual work. The proposal to install two 12-inch gravel pumps was approved and the order for the necessary plant was placed with Messrs J. J. Niven and Co.. Ltd., as agents for Thompson's Engineering Company of Castlemaine. Mining operations had commenced under the new method. The pumps were functioning very efficiently, and the directors were confident that they would handle the solids and all the nozzle water and seepage that could be delivered to them. WEST COAST DREDGES (Per United Press Association) GREYMOUTH, June 17. The Mossy Creek dredge return was 21oz (8360 yards) for 129 hours' dredging. The Worksop return was 290 z (10500 yards) for 131 hours' work. MAORI GULLY COMPANY Speaking at the annual meeting of the Maori Gully Gold Dredging Company, Mr J. M. Bunt, chairman of directors, said that the meeting would have to consider a recommendation from the directorate that the company should acquire a new claim, in viewof the fact that the estimated life of the present one would terminate on March 31 next. They had an alternative of winding up the company or otherwise dealing with the assets. He estimated that shareholders would obtain approximately 6d a Is share \%ere the company to use available resources in repayment of capital, whereas shareholders could secure the equivalent of this on the market. To ensure not only a full return of capital, but also additional profit, the obvious course appeared to be that of working a new and proven claim with a longer life than Maori Gully, preferably one with a 10 years' life. The estimated cost of transferring the plant was about £4OOO, which was in hand, and a similar amount was to be expected from the remainder of the present claim provided they had no costly emergencies to meet. The directors' proposal to obtain a new area was adopted, after some discussion, by a substantial majority. LONDON MONEY MARKET (United Press Association) (By Electric Telegraph—Copyright) LONDON, June 16. Discount and short-loan interest rates: Day-to-day loan, i per cent.; fine trade bills, three months, 2 to 1\ per cent.; bank bills, three months, \ per cent.; bank bills, six months, 3 per cent.; Treasury bills, two months, 11-16 per cent.; Treasury bills, three months, 11-16 per cent.; New York call money, 1 per cent. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegjauh— Copyright) SYDNEY, June 17. (Received June 17, at 11.30 p.m.) On the Stock Exchange the investment market continues to brighten, but the swing to gilt-edged securities is becoming more apparent every day, THE MORNING SALES

The bond market was steady, and other sections of the market were inclined to be a shade belter, but the volume was light. £ s. d.

Last week. I This week. S 1. General Reserve Fund ., 1,500.000 1.500.000 2. Demand liabllltlei— 12.8(18.787 12.812,503 7.720.328 8,100,734 8.758.300 8.002.802 822.200 884.477 4. — — 0. Liabilities In currencies other than New Zealand currency .. .. 6. Other liabilities .. .. 124.273 127,078 £31.797.000 £32,154.251 ASSETS r. neserre— . 2.801.701 ' 2,801,791 (b) Sterling exchange .. 20,009.106 21,124.372 (c) Gold exchange .. ., — —r 8. Subsidiary coin ■.. 111.868 112.107 0. Discountsfa) Commercial and agricultural bills — — (b) Treasury and local — — 10. Adrances— (a) To State or State undertakings— (1) Dairy Indmitry ac4.785.398 , 4,932.351 (2) For other purposes 200.000 2C3.000 (b) To other public au- — — — in 1,000.450 2,900.450 12. Bank building — — 33. 83,258 77,170 £31,707.960 £32.154.251 Proportion of resenre (No. 7 I •sh No. S) to notes and c ther demand liabilitloi .. 78.881% 78.578%

Tilt : fallowing are tbo olBcial me tal quotations:— Tou. Copix x. spot .. .< B53 12 6 ItljB n 2 o t'OPPt r. forward •• 63 0 3 ItlM 1 10 3 Eleett -ulytlc spot .. ISO 0 0 Rls9 10 0 Klertr olytlc. forward.. 112 t 0 Itlsa 10 0 V.iro bars .- •• 02 0 0 lll*a i e o Lead. spot 21 18 9 Bin 0 18 0 Lead. forward •• 21 IT a Rise 0 18 D Syelti sr. spot .. •• 20 5 0 nisii 15 0 Speltc ■r. forward •«' 20 7 .0 Biss 15 0 Tin. 217 17 8 JUm 4 15 0 Tin, forward •• •■> 217 S 6 Oz. Rise 4 10 0 Sliver . (inn .. •<> 19 13-iaa Bill 1-16(1 Silu-i . standard ... 21 &d Fall l-16d

LONDON, June 16. £ s. d. June 16 7<0 5i June 15 7 0 5i 7 0 6J June 14 June 10 7 0 7 June 9 ,. .... 7 0 65 June 5 7 0 34 June 4 7 0 5 June 3 7 0 9 June 2 7 0 8 June 1 7 0 9

SALES ON 'CHANGE £ 8. d 13 0 N.Z. Breweries (rights; 3) 113 2 7 0 Electrolytic Zinc (ord.) .. .. 2 10 3 SALES REPORTED N.Z. Refrigerating (paid) .. .. 0 18 11 N.Z. Breweries (rights; 3) 113 Electrolytic Zinc (ord.; 2) 2 9 9 0 17 0 National Mortgage (B) .. .. 19 6 13 0 0 4 0

GOVERNMENT LOANS Buyer. Seller. £ s. d. £ a. d. 31 p.c. Stock., Nov., 102 0 0 _ 31 p.c. Stock. March, 101 10 0 — 3J p.c. Stock, Sept., 101 10 0 — 31 p.c. Stock, May, 102 0 0 •— 31 p.c. Stock, March, 101 10 0 ' — 31 p.c. Stock, Sept., 101 10 0 — 31 , p.c. Stock, May. 101 10 0 — 31 p.c. Stock. Nov., 1941-52 101 10 0 — 3 p.c. Bonds, 1939-41 90 0 0 — 4 p.c. Bonds, 1943-46 103 10 0 — 4 p.c. Stock, 1943-46 103 10 0 — 4 p.c. Bonds. 1946-4S 103 io 0 — 4 p.c. Stock, 1946-49 103 10 0 mm 4 p.c. Bonds, 1952-55 102 0 0 — 4 p.c. Stock, 1952-55 102 0 0 — 31 p.c. Bonds, 1953-57 99 10 0 — 31 p.c. Stock, 1953-57 99 10 0 MINING 0 1 9 0 2 1 Big River (Is) .. .. 0 1 3 0 1 6 Clutha River (2s) .. 0 2 0 — Consol. Goldfields (4s) — 0 15 0 Gillespie's Beach (Is) — 0 1 51 Goldfields Dredging (Is) .. •• :. •• — 0 0 4 Maori Gully (Is) — 0 0 7 Nokomai (5s) .. .. 0 2 3 0 2 9 Okarito (5s) .. .. 0 2 0 0 3 0 Sandhills (Is) .. .. 0 0 1 — Skippers (Is) .. .. — 0 0 4 Waihi Grand Junction (2) — 0 3 0 BANKING — 12 12 0 N.S.W. (£20) .. .. — 37 0 0 2 4 0 — N.Z. (longD; £1) .. — 1 6 7 Natl, of N.Z. (£2 10s) — 3 6 0 Natl, of A'asia vcont; — 7 8 0 — 11 0 0 INSURANCE National (7s) .. 0 16 11 0 17 1 South British (£1) .. 4 14 6 — ! Standard (£1) .. .. — 2 19 c SHIPPING Howard Smith (£1) — 1 1 0 Huddart, Parker (ord.; — 2 0 0 Huddart, Parker (pref.; £1) .... 1 6 6 — Union S.S. Co. (pref.) 1 6 0 — MEAT PRESERVING Gear Meat (10s) 0 16 6 — N.Z. Refrlg. (paid; 0 18 10 — South. Froz. Meat (paid; £1) .... 3 14 0 — South. Froz. Meat (pref.; £1) .... 3 14 0 — South Otago Freezing (£5) 7 14 0 — WOOLLEN COMPANIES Bruce (ord.; £1) — 0 11 0 Bruce (pref.; £1) .. — 1 3 6 Kalapoi (pref.; 17s) .. 0 16 6 — Mosgiej (£4) .. .. 10 2 0 — — 0 19 6 , LOAN AND AGENCY Natl. Mortgage (£2) — 2 13 0 Natl. Mortgage (B 1 9 0 — Otago Farmers (3s 4d) 0 3 9 — Otago Farmers (pref.) 0 19 0 — Perpetual Trustees — 3 4 0 Trustees. Executors 3 14 0 — Wright, Stephenson (ord.; £1) .. •• 1 0 9 — Wright, Stephenson (pref.; £1) •• •• — 1 2 G COAL Wcstport (10s) •• ■• 1 2 9 — MISCELLANEOUS Anthony Hordem (£1) 0 18 6 0 19 3 Anthony Hordem (pref.; £1) •• •• — 1 2 3 Associated News (pref.; £1) .. •• 1 3 3 — Broken Hill Propy. 3 17 9 3 18 9 Broken Hill Propy. (cont.; 15s) .. .. 3 11 9 3 14 3 Brown, Ewing (pref.; 1 2 6 — Consolidated Brick _ 0 7 10 D.I.C. (ord.; 10s) 0 16 9 0 17 3 D.I.C. (pref.; £1) .. 1 3 9 — Dominion Fertiliser 104 0 0 M Dominion Rubber (£1) 1 11 6 Donaghy's Rope (£1) 2 13 0 ~ Stock Exchange Propy. (£1) 1 19 6 Dunlop Pcrd. Rubber 1 1 0 1 2 0 General Industries (12s 0 19 9 1 0 4

G. J. Coles (£1) 5 6 0 5 8 0 Hume Pipe (£1) — 0 19 6 Kauri Timber (£1 5s) 1 3 6 1 4 0 Milburn Lime (£1) .. 1 19 6 2 1 0 Mort's Dock (£1) .. 0 13 0 — Natl. Electric (£1) .. — 0 14 0 N.Z. Drug Co. (£2) .. — 3 15 0 Farmers' Fertiliser (£1) 1 0 3 — N.Z. Newspapers UGs 3d) — 1 15 G N.Z. Paper Mills (£1) 1 7 0 — Regent Theatre (£1) 0 19 0 — Shillings. Ltd. (£1).. 0 18 0 0 13 4 Taranaki Oil (£1 4s — 0 4 3 Wilsons Cement (10s).. 1 18 0 2 0 9 Woolworths lord.; £1) __ 8 3 0 BREWERIES N.Z. Breweries (£1; '•2 6 0 8 3 0 N.Z. Breweries (£1; 1 1 3 1 1 4 Staples (£1) .. .. — 2 12 6 Dunedin (£1) .. .. 1 8 6 — AUSTRALIAN MINING Austral N.Z. Mining (9s) 0 11 3 0 14 0 Broken Hill South 2 6 6 2 7 6 Electro. Zinc (pref.; 2 11 6 — Electro. Zinc (ord.; £1) 2 10 0 2 10 9 Mount Lyell (£1) .. 2 0 3 2 0 6 Mount Morgan (2s 6d) 0 11 3 0 12 0 North Broken Hill (5s) 3 9 3 3 11 6 Rawang Tin (10s) 0 10 9 — ••Ex dividend

Sales on 'Change £ s. d 103 5 0 Stock, 1953-57, 3i p.c 100 0 0 103. 5 0 Bank of Australasia .. 12 6 0 Commercial Bank of Australia 0 18 6 Bank of New South Wales 36 0 0 Bank of New Zealand (2) 2 4 0 0 10 9 1 1 1 1 8 7 Devonport Ferry .. 1 0 0 2 11 0 New Zealand Breweries .. 2 7 1 N.Z. Breweries (rights) 1 1 3 2 15 3 Broken Hill Propy 3 17 9 3 12 0 Colonial Sugar (2) .. .. 47 0 0 1 1 9 Electrolytic Zinc .. 2 10 2 10 6 3 Farmers' Trading (new: 20s Milne and Choyce (debs; 2) 1 1 0 17 0 0 0 3 11 Wilsons Cement (2) .. 2 0 0 Woolworths (N.Z.) .. .. 8 3 0 0 2 6 Broken Hill South .. .. 2 7 c 2 0 3 0 11 7 0 12 0 Placer Developments 4 2 6 Unlisted Stocks Woolworths (Syd.) .. .. 6 18 0 Radio (1936), Ltd. . .. 1 2 6

Sales on 'Change Bank of N.Z. (late Wed.; 2) 2 4 0 Huddart, Parker (ord.: late 1 18 41 Dominion Brewery (late 2 3 8 Broken Hill Propy. (late Wed.) 3 17 6 3 17 9 Farmers* Trading (new; late 1 1 0 Gillespie's Beach (late Wed.) 0 1 5 Stock, 1940-43, 4 p.c 102 0 0 1 3 0 N.Z. Breweries (rights) .. 1 1 1 Broken Hill Propy. (2) .. 3 18 0 (2) 3 17 9 47 5 0 Electrolytic Zinc (pref.) .. 2 12 6 Electrolytic Zinc (ord.) 2 10 2 10 0 4 4 3 1 Broken Hill South .. .. 2 7 4 *2 2' 7J Mount Lyell (2) .... 2 0 6 Unlisted Stock Woolworths. Ltd. (late Wed.; odd lot) .. .. 7 0 0

Commercial Bank of Australia (3) 0 18 5 0 18 4 N.Z. Breweries (rights) 1 1 1 1 3 2 Broken Hill Pty. (3) .. 1 1 3 18 4 0 (3 3 17 9 3 17 8 Broken Hill Ply. (cont.; 3) 3 12 3 Dunlop Rubber (2) .. 1 1 6 Electrolytic Zinc (ord.) 2 9 9 (2) 2 10 0 2 10 3 Electrolytic Zinc (pref.; 2) 2 12 4 G. J. Coles (3) .. .. 5 6 9 Kauri Timber (cum div.l l .. 1 3 7 0 14 3 N.Z. Paper Mills .. 1 7 3 Wilcox Mofflin .. .. 0 13 0 Shillings. Ltd 0 18 4 Taranaki Oilfields (2) 0 3 11 Worksop Extended 0 1 4 Broken Hill South (cum div.; 3) 2 6 7 Mount Lyell (cum div.) 2 0 5 (2) 2 0 4 (4) 2 0 5 (2) 2 0 4 2 0 3 2 0 2 Mount Morgan .. 0 11 5 (2) 0 11 (1 ! '111 0 11 7 (3) 0 11 7} North Broken Hill .. 3 10 0 Sales Reported N.Z. Breweries (rights) 1 1 3 Broken Hill Pty. 3 17 R Electrolytic Zinc (pref.) 2 12 3 Mount Lyell (cum div.) 2 0 4 Mount Morgan .. .. 0 11 8 0 11 6

G. J. Coles (2) .. 5 6 9 Electrolytic Zinc (ord.; '2>;; 2 10 4 Broken Hill South 2 7 0 North Broken Hill 3 10 0 Rawang Tin .. .. 0 11 4

Paris— Tar June l.i. June iu. franca to £ 1 124-21 110 53-04 110 29-32 liru&sejd— Bellas to £1 3u 29.20 29.25 Kruuri 10 £ 1 IS.ISO lll.'JO 19.90 iSloclilioIra— Kroner to til 18.130 19.30J 19.394 t 'u|ietiua*en — Knitter to £1 18.150 22.40 22.10 HerlluMarltsto JC1 20.31 12.31i 12.311 Uoutreal— Dnllara to £) 4.86 2-3 4.9 i 4.931 \e» York— Dollars to £) 4.86 2-3 4.94 4.93 13-10 Vukuhania— Pence to yen 34.582 13 63-64 13 31-32 iloriKkong— Pence to dollar 24.58 Hi 14 23-32 Bombay— Pence to rupee — 184 184 Batavia — Florins to £1 12.10 8.01 8.94 \tllaiiMre to £1 82.4G 931 93 13-10 Amsterdam— Guilder to £1 12.107 8.984 8.98 PragueKroner to £1 1014 110J Ml 13-10 (jeneva— Kranca to £1 25.22J 21.533 21.551 Vienna — Schilllncs to £1 84.804 261 264 ilelsinufors— Marks to £1 193.23 2201 2261 MadridPesetas to £ 1 25.22} 92 11-32 92 11-32 Belgrade— Dinars lo £) 25.22 J 216 216 ■Mliens--Drachma to £1 375 547J 547J Escudos to £1 110 110 3-16 110 3-10 Itucliarest— Lei to £ 1 031.6 GT2i 6724 Uio de JaneiroPence to tnllrels .. 5.890 «} <l Buenos AiresPence to pesos 4T.22 — Shanghai — Pence to tael — 14! 14| MontevideoPence to pesos >. — 39J 39J Warsaw— Zlotys to £1 — 26.06 26.06

London— Buying. Selling £1 N.Z. to £100 r.T. 124 124/10/ O.D 123/10/. 124/8/9 Australia— £ A to £100 N.Z. T.T O.D 10! 101 b'ljlS F to £100 N.Z T.T. 00/7/6 89 O.U. 00/7/0 89 New Vork— Dollars to £ N.Z. T.T. O.D. 3.9945 4.0045 3.9.-.70 3.9616 .Montreal — Dollars to £ N.Z. T.T. 3.9935 3.9.->SS O.D. 4.0060 3.9626 Austria— SchtlliuBS to £ N.Z. .. •• T.T. O.D. 20.95 20.96 Bclclum— 23.303 23.374 Belgas to £ N.Z. T.T. O.D. — Czechoslovakia— 113.06 113.11 Crowns to £ N.ZT.T. O.D. — Ken ra arkKroner to £ N.Z. T.T. O.D. 18.203 18.263 17.893 17.899 t'rance— Francs to £ N.Z. T.T. O.D. _ 88.88 88.92 liermany— Relchsmarks to £ N.Z. .. •• T.T. -_ 9.828 O.D. — 9.833 Holland— Florins to £ N.Z T.T. O.D. 7.317 7.357 7.167 7.171 Italy— Lire to fi N.Z, T.T. i .1.-1 O.D. — 75.26 Java— Florins to £ N.Z. T.T. 7.29.1 7.141 O.D. 7.331 7.145 NorwayKroner to £ N.Z. T.T. 16.183 15.893 O.D. 16.243 15.899 Sweden — Kroner to £ N.Z. T.T. 15.785 15.490 O.D. 15.813 13.496 SwitzerlandFrancs to £ N.Z. T.T. 17.494 17.224 O.D. 17.399 17.229 Nniimca— Francs to £ N.Z. T.T. — 87.51 O.D. — 87.57 faneete — Francs to £ N.Z, T.T. — 87.46 O.D. — 87.52 Hongkong— N.Z. pence to 1 dollar .. •• T.T. 18 9-64 18 37-61 O.D. 18 7-64 18 37-61 India ano Ccylou— N.Z. pence to 1 rupee .. •■ T.T. 22? 22 21-32 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to 1 yen .. .. T.T. — 17 29-64 O.D. — 17 29-64 SlmnRlial— N.Z. pence to 1 dollar .. .. T.T. 17J 18 3-16 O.D. 17 23-32 18 3-16 Singapore— N.Z pence to 1 dollar .. .. T.T. 34 23-32 ! 35 13-64 O.D. 341 35 13-04 Uliefoo— N Z. pence to 1 dollar .. .. T.T. 17 23-32 IS 11-32 O.D. 17 43-61 18 21-61 Manila— N.Z. pence to 1 peso .. .. T.T. 2!) 27-31 ! 30 11-32 O.D 293 30 11-32

U.S.A Canada (Per£l (Per£l N.Z.) N.Z.) selling— Dols. Dols T.T. .. 3.95J 3.95 15-16 O.D. .. 3.963 3.96 7-16 Buying— O.D. .. 4.00 11-16 4.00S

Commonwealth bonds — £ s. d. 101 8 9 104 2 6 102 11 3 103 0 0 103 15 0 Australian Gas (A) .. .. 7 9 0 2 15 9 5 9 0 Woolworths (second prei.) 1 8 6 Broken Hill Propty 3 19 6 Broken Hill Propty. (new) 3 14 0 2 11 3 0 13 3 ADDITIONAL SALES Bank of New South Wales 36 2 6 Bank of New Zealand .. 2 4 6 48 0 0 1 3 0 Associated News (pref.) .. 1 3 6 1 18 6 3 12 6 7 9 0 2 15 9 1 13 6 5 9 0 1 2 0 Winchcombe Carson .. .. 1 19 0 2 7 6 2 5 0 Australasian Paper .. 1 13 3 0 19 1J General Industries .... 1 0 44 Australian Wood Pipe 0 10 0 Gibson and Howes .. .. 1 11 41 i 14 7J 0 14 6 0 15 G 1 15 3 1 6 0 Permewan Wright .. .. 1 14 4J 2 15 0 4 0 0 1 15 9 Woolworths (New Zealand) 8 1 0 0 11'll 2 1" u North Broken Hill .. .. 3 11 0 South Broken Hill .. .. 2 8 0 0 11 5 Rawang (New Zealand de0 11 5 Placer Development .. 4 0 0 0 15 H 0 4 0 MELBOURNE. June 17.

Commercial Bank of Aus0 18 6 National Bank (£5 paid) .. 7 4 0 3 4 0 Coles 5 7 0 1 6 3 Australian Iron and Steel 1 7 0 1 2 0 1 4 0 1 19 9 1 15 0 Melbourne Electric Stock .. 0 17 6 1 15 6 1 16 0 2 1 0 0 12 0 Broker. Hill Proprietary .. North Broken Hill .. .. 3 18 6 3 10 9 South Broken Hill .. .. 2 7 9 0 15 5 0 17 1U