COMMERCE AND FINANCE

Otago Daily Times, Issue 23365, 3 December 1937, Page 16

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS ■

THE RESERVE BANK ASSETS AND LIABILITIES (Per United Press Association) WELLINGTON, Dec 2. 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 November 29. The figures at the close of the previous week are given for purposes of comparison, shillings: ; and pence being omitted:— ■ : V LIABILITIES ■ '- : ; 'Last wcoK. this vrtisK ■ .. £ ■ 1. General Reserve. Fund > 1.500.000 .'I.SODiUUIft 2. Bank notes .. 13,263.052 13.310,411 3. Demand liabilities — (a) state 4,486.058 5,1815,81 1 (b) Banks .. .. 7,433.766 6.729.342 (c) Other 553.136 610,378 4. Time deposits ~ 5. Liabilities in currencies other than Now Zealand currency .. .. 62.218 62.218 6. Other liabilities -. 153.606 155,064 Total .. £27,162.719 £27,567.128 ASSETS 7. Reserve—(a) Gold 2.801.791 2.801.791 (b) Sterling exchange .. 16,552.343 16,586,526 (c) Gold cxchanoo ..... 8. Subsidiary coin .. ■■ 83,463 121,038 9. Discounts—(a) Commercial and agricultural bills .. “ ~ (b) Treasury and local body bills .. .. 10. Advances— • (a) To Stale oi State undertakings—(l) Dairy Industry »o- • count 4,583,014 4.590,871 (2) For other purpoios 700.000 700.000 (b) To other public authorities .... “ ” (c) Other .. -• •• ~ _ 11. Investments •• 2,038.325 2,6ti8,323 12. Bank building “ 13. Other assets ~.- Total ... ... .. £27.462.719 £27.5117,128 Proportion of reserve (No, 7 less No. 5) to notes and ’ other demand liabilities .. 74.943% 74.788 k TRADE OF THE DOMINION LATEST OFFICIAL RETURNS (Per United Press Association) WELLINGTON, Dec. 2. Thg ; following are the overseas trade figures, in New Zealand currency, for the month of October, together with those fot the corresponding months of 1936 and 1935: — Month of October ■;.it ' ■ (937 1938 193$ £ £ 8 Exports .. .. ' 2,903,000 2.587.000 2,846,000 Imports .. -• 4,623.000 3,947,000 3.603,000 Excess of import. 1,720.000 1.380.000 757.000 Ten months ended October 1937 1936 1935 £ £ £ Exports .. •• 58.187,000 48,609,000 38,739,000 Imports .. .. 46.605.000 35,758.000 30,059,000 Excess of exports 11,582.000 12,851,000 8.680,000 The value of the specie excluded lor October, 1937, was exports nil, imports £3. For the 10 months ended October, 1937, the exports were £3500 and the imports £ 100)272. ; !v . . NEW GUINEA GOLD SHARES (United Press Association) (By Electric Telegraph—Copyright) ■ . - LONDON, Dec. 1. Neyv Guinea; Gold shares are quoted at Is 6d.. ; LONDON MONEY MARKET .'.'('United 'Press Association) r (By Eie'ctric Telegraph—Copyright) LONDON, Dec. 1. Discount and short loan interest rates: Day-to-day loan, i per cent; fine trade bills, three months, 2 to 2J per cent.; bank bills, three months. | per cent; bank bills, six months, § per cent.; Treasury bills, two months, 11-16 per cent.; Treasury bills, three months, I per cent.; New York call money, 1 per cent. . , . , BALLINS BREWERIES, LTD. A PROFIT OF £9664 (Special to Daily . Times) v " CHRISTCHURCH, Dec.'S. A profit- Of, £9364 is shown in the first annual accounts of Balliris Breweries (New Zealand),, Ltd., for the period ended Septcinbei 30, after deducting ‘ operating expenses, reserve for doubtful debts, and provision for all accrued charges, It is proposed to transfer £3OOO to the,depreciation reserve. £2200 to the inco.me tax reserve, to write £2500 from the preliminary expenses account, and to carrv forward £1964. ' The directors describe the period as very satisfactory, and predict that the payment" of dividends should bri possible shortly. The paid capital of the company is £ 176,842. . T i i..i -■ i •- NEW ZEALAND LOAN AND MERCANTILE SHARES (United Press Association) (By Electric Telegraph—Copyright); ■ 1 Vi LONDON, Dec.; U New Zealand Loan and Mercantile ordinary shares are quoted'at £25 15s. and the preferences at £IOO 10s arid £B2 10s. ' .; ■; . ■- ■:

THE SHARE MARKET DUNEDIN STOCK EXCHANGE BRIGHTER TONE IN EVIDENCE A strengthening in values for shares in the Australian mining section and a similar improvement for a few or the better-class securities among miscellaneous industrials were the principal features which characterised operations on the Dunedin Stock Exchange yesterday afternoon. Broken Hill Souths. Electrolytic Zincs. Mount Lyells. Mount Morgans and North Broken Hills were all marked up in value when the market closed, and prices appeared to be reaching a steady level. Buyers were outnumbered by sellers, however, but there was a distinctly brighter tone and vendors did not appear to be overanxious to liquidate their holdings. Banking shares showed little change from the previous day and insurances were dull. Woollen shares again failed to attract buyers, but. with one exception, vendors’ limits were not reduced. A parcel of Mosgiel Woollens was offered at the easier price of £lO. hut no bids were received After business at the morning call-over at £l - I " s ' Goldsbrough. Morts finished a shade easier. Coal shares were firm, a buyer of Kaintangatas advancing his price to £1 5s 3d. but holders still kept off the market. Australian Glass and British Tobaccos shared in the upward trend, the former scrip being stronger by Is 9d. Both issues of Broken Hill Proprietaries were firmer and received stronger support, and Sydney Woolworths came in for a good deal of attention at prices which were Is firmer than those ruling during the previous day. Among Dominion securities, Taranaki Oils finished firmer and New Zealand Newspapers and Regent Theatres” were steady. Breweries Were quiet, but New Zealands were steady, with unanswered buyers at .£2 ss. YESTERDAY’S TRANSACTIONS Sales on ’Change

The following are yesterday afternoons buying and selling quotations, which are subject to the usual brokerage;— GOVERNMENT LOANS

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

DIVIDENDS PAYABLE The following is a list ol shares on which dividends #ill shortly be payable:— Oamaru Woollen Mills—SJ per cent, making 6 per cent. for year ~ Dec. 7 North Broken Hill —quarterly Is 3d per share Dec. 8 Wilsons Cement interim, 4Jd per share Dec. 8 Kuala) Lumpur Tin—bonus. Is per share . Dec. 9 N.Z. Breweries—interim, 4 per cent Dec. 10 Golden Sands—ld pei share Dec. 10 8u1010—1.50 dollars (Canadian) less tax Dec. 10 Placer Development—6o cents (Canadian) less tax .. .. Dec. 10 Bank ol New Zealand—s per cent.. Is per share halfyearly Dec, II Bank of New Zealand (long D), 33 per cent.. 9d per - share .. Dec. 11 Mataki Junction—lJd per share .. .... .. v Dec. 14 Otago Farmers’ Co-op.— (ord., 3s 4d paid) 5 per cent. (about) . - Dec. 16 Otago Farmers’ Co-op.— (A prel. £1). 5 3-5 per cent, (about) • • Dec. 16 Otago Farmers’ Co-op.— (Investment shares, 16s 8d). 5 per cent, (about) .. .. .. Dec. 16 Broken Hill South—ls 3d per share , • Dec. 17 Consolidated Brick halfyearly 2£ per cent., 3d per share Dec. 20 Mount Lyell - final. 2s per share Dec, 20 Sulphide Corporation—2s per share (pref.) and Is 6d per share (ord.) .. .. v ■■ Dec. "1 Tongkah Compound Tin —Is per share and bonus Is per share ... 23 Morris Hedstrom (Fiji) interim, 3 per cent. .. . Dec. of Zinc Corporation—second hall fixed pref. 2s; interim participating pref. and ord. 4s (sterling, less tax) .. .. Jan. 1 Victoria Nyanza Sugar—6 per cent Jan. 26

NORTHERN EXCHANGES

ON NEW ZEALAND CURRENCY BASIS

DOLLAR RATES The Associated Banks (other chan 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 £ I (Per £1 N.Z.) N.Z.) Selling— Dols. Dols T.T 3.99 13-16 3.99 11-16 O.D 4.00 3-16 4.001 Buying— O.D 4.04 3-16 4.04 J LONDON METAL MARKET (United Press Association) (By Electric Teleeraph -Copvru'ht) LONDON. Dec. I. the fo.lowmo are ttis olltciai mvim iiimialioni:—

MINING NEWS

LONDON STOCK MARKETS (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. The strength of rubber shares was a feature of the markets. Gold shares were also in good demand. Industrials were generally cheerful, though buying was inconsiderable. BULOLO SHARES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. Bulolo gold mining shares are quoted at 97s 6d. SULPHIDE CORPORATION LONDON, Dec. 1. The Sulphide Corporation’s net profit for the year is £161,677. The dividends are 10 per cent, on the ordinary and preference shares, and absorb £105.000.

PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright) LONDON. Dec. 1.

BRIAN BORU COMPANY VOLUNTARY LIQUIDATION (Per United Press Association) GREYMOUTH, Dec. 2. At a general meeting of the Brian Boru Gold Dredging Company, Ltd., last evening, Mr A. Donnellan presided over an attendance of 13 shareholders. It was unanimously resolved that the company should be wound up voluntarily, and Mr J. Martin Bunt, of Greymouth, was appointed liquidator. MOSSY CREEK RETURN (Per United Press Association) GREYMOUTH, Dec. 2. The Mossy Creek dredge obtained a return of 530 z from 7920 yards for 108£ hours’ work. GOLDFIELDS DREDGING COMPANY (Per United Press Association) TIMARU, Dec. 2. The Goldfields Dredging Company advises a return of 6oz 2dwt for 126 hours’ work. OXENBRIDGE SHOTOVER COMP AN * LOSS ON YEAR’S WORKINGS No income whatever was received by the Oxenonage Shotover (iold Company, Rid., ana expenses incurred m Homing me claim nave oeen Kept at a minimum, states the fourtn annual report, me loss ror me year was £ZBi 2s 9d, deoemure interest taking £232, claim rents and rates £2B ms iud, and general expenses £2O 8s ild. The claim is still lei under a tribute agreement (the report states), but owing to various circumstances no worn has oeen done on me claim. Tne main cause for this was me wearing out ol the gravel valve in the Moke Creek dam, and later the filling of the dam with gravel prougnt down Moke Creek. At the present time the dam is useless without tne expenditure of a tau sum of money. In view of the condition of the aam, the directors thougm it advisaoie to agree to a proposal irom Mr if. c. Weddeii to allow him to use the company s pipeline and plant to work an area wmcn Mr Weddell holds further up Moke Creek, the company to receive in return a percentage of the gold won. Mr Weddell thought that this claim would be opened out in the sprmg of this year, but on account of the water shortage u has not been possible to do any elevating. Until the water supply is restored it is not possible to work either the Shotover by means of the high pressure water or the Moke Creek area. The company has again been unable to pay any Interest to debenture holders, but no action is at present contemplated by them. JONES NEVIS RETURN The Jones Nevis Sluicing Company, Ltd., reports that it commenced sluicing operations in October, A partial wash-up on November 27 resulted in a return of 71 ounces. NEMONA DREDGING COMPANY A dividend (No. 8) of one penny per share (free of income tax) has been declared on all the shares in the Nemona Gold Dredging Company, and will be payable on Wednesday, December 15, 1937, This dividend represents a distribution of £ISOO to the shareholders, which makes a total of £12,000 paid in dividends since operations commenced in June, 1936. Transfer books will be closed from Dcember 10 to 15 (both days inclusive). BIG RIVER MINES Big River Gold Mines, Ltd., report the following gold returns for the month of November, 1937; Battery Department. —Three hundred and, seventeen tons of ore were crusheu for 280 oz lOdwt of melted gold. Cyanide Department.—Twenty-three ounces I3dwt of bullion were obtained from the 200 tons of sands treated. Total estimated value, £2025. Three tons of concentrates were saved, valued at £BS. In estimating the above values, gold has been taken at 140 s per fine ounce. DOMINION BREWERIES INTERIM DIVIDEND DECLARED (Per United Press Association) AUCKLAND, Dec. 2. The directors of Dominion Breweries, Ltd., have declared an interim dividend for the half-year ended on September 30, at a rate of 10 per cent, per annum. Last year the interim dividend was 4 per cent., and the full year’s distribution 9 per cent. PLACER DEVELOPMENT, LTD. RETURNS FROM INVESTMENTS A meeting of Placer Development, Ltd., was held at Vancouver on October 21. The report of the managing director (Mr Charles A. Banks) on the operations of the company contained the following statement:— The issued capital was increased by 115,030 shares during the year, bringing the total issued capital, as at April 30, 1937, up to 730,000 shares. A surplus of 1,229,081 dollars remained at the credit of the profit and loss account as at April 30, 1937. In that account the first item on the credit side is dividends received in the sum of 945,319 dollars. This sum represents Bulolo Gold Dredging, Ltd., dividends Nos. 6 and 7, each of 1.40 dollars per share, amounting to 832.357 dollars. Asnazu Gold Dredging, Ltd., dividends Nos. 1 and 2 of 5 per cent, and 10 per cent, respectively, totalling 92,250 dollars, and Rutherglen Gold Dumps, Ltd., dividends Nos. 1 and 2 of 5 per cent, and 15 per cent, respectively, amounting to 25.280 dollars, of which 4568 dollars had been considered as return of invested capital and 20,711 dollars as revenue.

DEVONPORT STEAM FERRY (Per United Press Association) AUCKLAND, Dec. 2. The Devonport Steam Ferry Company. Ltd., has declared an interim dividend at an unchanged rate of 5 per cent, per annum. SALE OF ANTIQUES GOOD PRICES REALISED A successful sale of antique furniture and ornaments was held by Messrs Park, Reynolds, Ltd., yesterday. There was a large attendance, the competition was keen and consequently good prices were realised. A mahogany “ bow-front chest brought £32, and a small looking-glass encased in similar wood £6 7s 6d. Several of the pieces on sale were marked with the Antique Association’s seal, the guarantee that a piece is more than IGO years old. Among the best of these articles was a small mahogany sidetable which was sold for £l4. An old walnut bullet sideboard brought £lO, and a “burr-walnut” china cabinet realised £33 10s. Rosewood furniture was popular. A magnificent Georgian circular dining table was sold for £26. and an interesting old work table fetched £ls. Five rosewood dining chairs sold for £2l ss, and a set of three Sheraton mahogany dining chairs brought £ 12 15s. There was a considerable amount of Sheffield plate sold, among the best of the pieces being a magnificent pair of candelabra which realised £lO, and a pair of candlesticks which were sold for £6.

DOLLAR AND FRANC (United Press Association) (By Electric Telegraph—Copyright) LONDON, Dec. 1. Exchange on New York is quoted at 4.98 15-16 dollars to the £, and on Paris at 147 3-32 francs. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Dec. 2. (Received Dec. 2, at 11.15 p.m.) Metal shares were more strongly supported on ’Change to-day,, and all Issues improved. Price movements in industrials were generally higher, with a firmer tone throughout the market. THE MORNING SALES

MELBOURNE, Dec. 2. There was good support for leading industrials and Barriers, although the turnover was fairly light. Broken Hill Proprietary new issue contributings were quoted to-day, and opened strongly, £ s: d.

£ s. d Goldsbrough, Mort (2) .. .. 1 12 0 Broken Hill Propy •• 3 2 Sale? Reported Broken Hill South (late Wed.) 1 17 4 Mount Lyell (late Wed.) .. .. 1 12 9 31 p.c. Stock, 1938-52 104 5 0 Christchurch City Debs., 4| p.c., 31/3/40-50 102 U u Woolworths (Sydney: 2) .. .. 1 b Electrolytic Zinc (pref.) .. .. 2 10 0 Sales Reported After Bast Call 9 0 Woolworths (Sydney) 1 6 1 7 Mount Morgan 0 11 10

Buyer. Seller. £ 3. d. £ s. d 3i p.c. Stock., Nov., 1938-52 101 0 0 — 3J p.c. Stock, Sept., 1939-43 101 10 0 3J p.c. Stock, May, 1939-52 101 0 0 — 3J p.c. Stock, Mar., 1941-43 101 0 0 — 3J p.c. Stock, Sept., 1941-43 101 0 0 — 3i p.c. Stock, May, 1941-52 , 101 10 0 — 3i p.c. Stock, Nov., 1941-52 .... .. 101 10 0 > — 4 p.c. Bonds, 1943-46 .. 102 15 0 — 4 p.c. Stock. 1943-46 .. 102 15 0 — '4 p;q. Bonds, 1946-49 .. 102 15 0 *1— 4 p.c. Stock, 1946-49 .. 102 15 0 — 4 p.c, Bonds, 1952-55 .. 105 0 6 — 3J p.c. Bonds, 1953-57 .98 5' 0 — \> \ ■ • '■ ’ MINING Argo (Is) >. 0 1' 9 — Big River (Is) .. .. 0 1 2 — Clutha River (2s) 0 I 9 • Gillespie's Beach (Is) — 0 1 4 Goldfield# -Dredging ....... — (Is) ... .. ■• •• — 0 0 3 -Kildare (2s) .. .. — 0 1 0 Mossy Creek (Is) 0 1 1 1 — Nokomai (5s) .. .. 0 2 1 0 2 3 Okarito (5s) .. .. 0 2 9 0 3 6 Paddy’s Point (5s) .. — 0 1 6 Sandhills (Is) .. .. —• 0 0 2 Waioapa Beach (Is).. —• 0 0 3 Worksop (Is) .. .. 0 0 9 BANKING A’asia (£5) .. .. 11 0 0 N.S.W. (£20) .. .. 31 17 6 — N.Z. (£1) .. .. •• 2 4 0 2 4 6 N.Z. (long D; £1) .. 1 9 0 — Commercial (ids) 0 17 1 Natl. of N.Z. (£2 10s) — 2 17 6 INSURANCE National (7s) .. — 0 17 - 7 Standard (£1) .. -. — 3 0 3 SHIPPING . Huddart, Parker (ord.; £1) — 2 2 6 Huddart Parker (pref.: £1) ,. .. .. ... 1 7 3 — P. and O. Def. Stock (£1) 1 5 0 — U.S.S. Co. (pref.; £1) 1 6 9 MEAl PRESERVING N.Z. Refrig. (paid; £1) — 0 19 6 N.Z Retrig (cont.; 10s) .. 0 8 9 — .South Froz. Meat (paid: £1/’ . .. .. — 1 8 3 South Frozen Meat (pref.; £1) .. •• 5 12 0 South Otago Freezing (£5) .. ... .. ... 5 0 0 — • WOOLLEN COMPANIES Bruce (ord.; £1) - 0 10 17 Kmapoi . cprel.. 17s).. — u 17 <i Mosgicl (£4)' .. .. — 10 0 0 Oamaru (£1) •• — 0 18 3 Timaru .. .. ... .. 0 17 0 .Wellington (pref.: £5) — 6 0 0 Manawatu Mills 1 16 0 LOAN ANU AGENCV Dalgety and Co. (£5) — 9 17 6 Goidsurough. Mort (£1) 1 11 9 1 12 3 Natnl Mortgage (£2) — 2 8 0 N.Z. Guarantee , Corp. (3s) — 0 *4 10 Otago Farmers (3s 4d) 0 3 3 — IVustees, Executors (£2) 3 15 0 — Wright, Stephenson (ord.; £1) 1 2 0 — Wright, Stephenson (pref,; £1) I 0 6 — COAL Kaitangata (10s) 1 5 3 — Westport (10s) .. .. — 1 4 3 West port-Stock ton (ord.; 10s) .. .. 0 2 6 0 3 0 Westport-Stockton (pref.: 10s) 0 5 3 — MISCELLANEOUS Anthony Hordern (£1) - 0 lb 9 Australian Glass (£1) 4 3 .0 — British Tobacco (£1) 2 8 fi — Broken Hill Pty. (£1) 3 1 9 3 2 6 Or ..ken Hill Ply (cent.; 5s) ... ... 1 13 3 — Brovvn Ewing (ord.; £1) — J 2 0 Biown. Ewing (pref.; £11) — 1 2 0 Consolidated ’ Brick (£1) .. .. •• -- 0 G 9 — D.I.C (pref.; £1) , .. 1 3 6 — Domjnion Fertiliser f£;D .... — 1 4 6 Dominion Fertiliser (Debs.) 103 0 0 — Dominion Rubber (£1) — 1 10 u Donaghy’s Hope (£1) — 2 r l 0 Stock Exchange Propy. *' (£1) •• 2 2 6 — Dunlop Perd • Rubber (£1) ... ... .. 1 1 10 1 2 2 Aust. Foundation Trust 0 6 0 General Industries (12a 6d) — 0 19 0 G. J. Coles (£1) 4 2 0 4 2 6 Hume Pipe (£1) — i 0 0 Milburn Lime (£1) .. — 2 1 0 Mort’s Dock (£1) .. — 0 10 9

Moturoa Oil (5s) — 0 4 3 Moturoa Oil (pref.; 5s) — 0 5 0 Natl. Electric (£1) •• 0 12 0 — N.Z. Drug Co. (£2) — 3 14 0 N.Z, Newspapers (TGs 8d) 1 17 3 1 18 3 N.Z. Paper Mills (£1) 1 5 9 1 7 0 Regent Theatre (£1) 0 19 6 — Shillings, Ltd (£1) .. — 0 19 0 Smith and Smith. (pref.; £1) .. .■ — 1 2 0 Taranaki Oil (£1 4s 7ci) 0 6 8 — Wool worths (pref.; “ £1) 1 8 3 Woolworths (ord.; £1) 4 0 0 5 0 0 Wool worths (Sydney: 5s) .. 1 6 3 — Woolworths (S.A.; 5s) 0 14 0 — BREWERIES N.Z. Breweries (£1) 2 5 0 ~ Dominion (£1) — 2 0 6 Dunedin (£1) .. .. — 1 11 0 AUSTRALIAN MINING Austral N.Z. Mining U3s) — 0 15 0 Broken Hill South (5s) 1 17 6 1 18 6 Electrolytic Zinc (pref.: £1) 2 S a — Electrolytic Zinc (ord.; £1) 2 7 0 2 8 0 Mount Lyell (£1) 1 13 0 1 13 6 Mount Morgan (2s 6d) 0 11 8 0 12 0 North Broken Hill (5s) 2 12 9 2 14 3 Placer Developments — 3 15 0 Rawang Tin (10s) — 0 10 8 UNLISTED STOCKS SeUridges (Aust.; £1) — 1 S 0 A ana I Burl (prel.; £1) 0 12 6 0 17 0 Dunedin Ice Cream 0 15 0 1 10 0 National Tobacco (ord.; £3) — 3 3 6 Sollridgcs (N.Z.; 12s) 0 10 6 0 12 0

AUCKLAND Sales on ’Change .£ s. d. Commercial Bank of Australia (2) .. .. • • • • 0 16 9 Commercial Bank of Australia (pref.) .. .■ ■ • 9 13 6 Bank of N.S.W. .. .. .• 32 0 0 Bank of N.Z, (D Mort.) .. 1 10 0 South British 4 18 6 Dominion Banking .. .. 0 19 6 Taupiri Coal 0 17 0 Union Steam (pref.) • • 1 7' 3 Tooths Breweries .. • • 2 12 4J Australian Glass (2) .. .. 4 6 6 Broken Hill Pty 3 2 6 Colonial Sugar .... .. 45 10 0 Consolidated Brick 0 7 6 Farmers’ Trading (A pref.) 1 2 9 G. J. Coles 4 2 3 N.Z. Newspapers (2) .. .. 1 17 9 Wilsons Cement 0 17 5 Woolworths (Syd.) .. • • 1 17 6 1 17 3 Golden Crown (3) .. .. 0 n 5 r 0 1 Martha .. . • • ■ • • 0 12 3 Talisman Dubbo (2) .. .. 0 8 9 Mount Lyell .. .. .. 1 13 6 Rawang Tin .. .. •• 0 1U 9 Woolworths Holdings (South Africa) 0 14 2 / Unlisted Stocks Whakatane Paper Mills 0 .7 6 WELLINGTON Sales on ’Change Colonial Sugar ,(late Wed.) 45 45 10 5 0 o Consolidated Brick (late Wed.) 0 7 6 Electrolytic Zinc (pref.; late Wed.) 2 9 3 G, J. Coles (late Wed.) .. 4 2 4J Woolworths, Ltd. (late Wed.; 6) • ■ 1 6 4 Woolworths, Ltd. (late Wed.; 3) 1 6 3 Woolworths, Ltd.-date Wed.) 1 6 1 Woolworths; Ltd. (late Wed.) 1 6 2 Broken Hill Pty. (2) 3 2 0 3 3 0 British Tobacco .. .. .. 2 9 3 ’Electrolytic Zinc (ord.; 2) 2 0 7 7 0 5 G. J. Coles .. 4 2 6 Taranaki Oil .. .. ;. . 0 6 8 Woolworths, Ltd. (2) .. .. 1 6 5J 1 6 6 (2) 1 7 5 Woolworths (holdings) 0 14 0 Unlisted Stocks Goldmines of Papua ;.. .. 0 10 2 CHRISTCHURCH.

Sales on ’Change Bank of N.Z. (D mort. 1 10 2 shares: cum div.: 3) . .. Bank of N.Z. (D mort 1 10 0 shares; odd parcel) .. .. Westport-Stockton Coal .. 0 2 8 British Tobacco •'cum div.) 2 9 4 Broken Hill Pty. (2) ,. .. 3 2 8 Booth Macdonald tpref.) .. 0 1 0 Electrolytic Zinc (pref.) .. 2 10 • 1 G. J. Coles 4 4 2 2 2 o 4 2 i (2) 4 2 2 Woolworths (Sydney; ord.) 1 1 6 fi 2 4 1 6 6 1 6 8 1 6 I) (5) 1 7 0 Grcv River (7s 6d paid) .. 0 0 1 9 10 3 11 Skippers .. • • 0 1 1 0 Broken Hill South .. .. 18 17 1 9 1 17 8 1 17 7 Mount Lycll' .. .. .. .. 1 1 13 13 4 5 1 13 2 1 13 0 Mount Morgan (8) .. .. 0 11 10 (2) 0 11 to* Rawang Tin (2) 0 10 8

Sales Reported Bank of New South Wales 32 5 0 Bank of N.Z. (D mort shares) .. 1 10 3 1 10 4 1 10 3 Goldsbrough, Mort .. .. 1 12 2 N.Z. Breweries (2> 2 5 5 Broken Hill Pty 3 2 3 Electrolytic Zinc (ord.) 2 7 3 Hume Pipe (Aust.) .. .. 0 19 6 Woolworths (Sydney; ord.) 1 6 6 7 6 9 1 1 Grey River 0 9 3

RUGBY, Dec. 1. Paris— Par. Nov. 30. Dee. 1. Francs to £ 1 124.21 147 5-64 147 5-61 Brussels— Belgas to £1 80 20.38} 29.84 Oslo— Kroner to £ 1 18.180 19.90 19.90 Stockholm— Kroner to £1 18.130 10.40 ‘ 10.40 Copenhagen— 22.40 22.40 Kroner to £ 1 18.150 Berlin — Marks to Cl 20.34 12.389 12.88 Montreal — 4.98g Dollars to fil 4.80 2-S 4.99 New York— 4.98g Dollars to C1 4.80 Z-S 4.09| Yokohama — Pence to yen 34.582 14 14 Hongkong— 15 15 Pence to dollai 24.58 Bombay— 18} 18} Pence to rupee — Batavia— 8.96} Florins to £ 1 12.10 9.00} Milan— 94 13-16 Dire to £1 82.40 94 29-32 Amsterdam — 8.98} 8.98} Guilder to £1 12.107 Prague— Kroner to £ 1 104 i 142 141 13-16 Geneva— 21.59 Francs to £1 25.22} 21.60} Vienna — Schillings to 26} 26} £1 84.86 i Helsingfors— Marks to £ 1 193.23 226} 226} Madrid— Pesetas to £ 1 26.22} 92 11-32 92 11-32 Belgrade— Dinars to £ 1 25.22} 216 216 Athens— Drachmas to £1 ST5 545} 545} Lisbon— Escudos to £1 110 110 3-16 110 3-16 Bucharest — Lei to £ 1 931.6 672} 672} Bio de Janeiro— Pence to mtlrels .. 6.890 2 21-32 2 21-32 Buenos Aires— 47.22 _ Penge to pesos Shanghai— Pence to tael — 14} 14} Montevideo— 89 13-16 39 13-10 Pence to peso* Warsaw— 20.21 26.21 Zlotys to fil

London— £1 N.Z. to £100 124/10/O.D. 123/10/123/8/9 Australia — £ A to £100 N.ZT.T. O.D. 100/10/rij] £ F to £100 N.Z. T.T. O.D. no/T/e 90/7/0 89/-/-New York— Dollars to £ N.Z. T.T. O.D. 4.0336 4.0436 3.9990 4.0030 Montreal— Dollars to £ N.Z. T.T. O.D. 4.0313 4.0433 3.9988 4.0028 Austria— Schillings to « K'.Z. .. •• T.T. O.D. — 20.90 20.91 BelgiumBelgas to £ N.Z. T.T. O.D. 23.774 23.464 23.840 23.475 Czechoslovakia— T.T. O.D. 113.11 Crowns to £ N.Z. - 113.16 Denmark— Kroner to £ N.Z. T.T. O.D. 15.203 18.203 17.893 17.899 France— Francs to 2 N.Z. T.T. O.D. 117.12 117.16 Germany— Reichsmarks .to £ N.Z T.T. O.D. — 9.S74 9.879 HollandFlorins to £ N.Z. T.T. O.D. 7.319!) 7.359 7.169 7.173 Italy— , _ „ „ Lire to £ N.Z. T.T, O.D. - 75.96 76.01 Java— M _ Florins to £ N.Z. T.T. O.D. 7.295 7.335 7.145 7.149 Norway— Kroner to £ N-Z-T.T. O.D. 16.183 16.243 15.893 15.899 Sweden— Kroner to £ N.Z. T.T. O.D 15.789 15.849 15.494 15.500 Switzerland— T.T. O.D. 17.521 17.629 17.254 17.259 Francs to £ N.Z. Noumea— Francs to £ N.Z. T.T. 115.87 O.D. — 115.91 Papeete— Francs to £ N.Z. T.T. — 115.92 O.D, — 115.96 Hongkong— N.Z. pence to 1 IS T-lf IS 13-16 dollar .. • • T.T. O.D, 18 13-32 18 13-16 India and Ceylon— N.Z. pence to 1 22 21-32 rupee . • .. T.T, O.D. 22 11-32 22 21-32 Japan— N.Z. pence to 1 17 33-64 yen .. .. T.T. — O.D — 17 33-61 Shanghai— N.Z, ponce to 1 dollar .. .. T.T. — 18 11-64 O.D. — 18 11-64 Singapore— N.Z. pence to 1 dollar T.T. 34 23-32 35 13-64 O.D. 31J 34 13-64 ChefoO — N.Z, pence to 1 dollar .. .. T.T. — 185 O.D. — IS 7-64 Manila— Tence to Peso T.T 29 11-16 30 3-16 O.D 29 10-32 30 3-16 AH rates subject to alteration without notice

Copper, mot .. .. Ton £40 3 9 Rise £1 5 0 Copper, forward 40 8 9 Rise 1 9 4'/a Electrolytic, (pot 44 0 0 Rise 1 0 0 Electrolytic, forward.. 46 0 0 Rise 1 0 0 Wire ban .. .. 46 0 0 Rise 1 0 « Lead, (pot .. 16 6 3 Rise 0 8 f'/2 Lead, lorwaro .. 16 3 I'/j Rise 0 12 6 Spelter, ipof .. .. 15 19 4'/, Rise 0 10 T/2 Spelter, forward 16 3 I'/j Rise 0 16 3 Tin, ipol 191 17 6 Rise 6 15 0 Tin. forward .. .. 191 2 6 Rise 6 5 0 Silver, itandard 19 Ui II6d Rise I16(1 Sliver, fine 21 'M Rise 1 1 (i<l

£ s. d. December 1 .. 7 0 0i November 30 M 6 19 11 November 28 # # 6 19 Hi November 25 , • 7 0 0 November 24 , , 7 0 1 November 23 , , 7 0 0 November 22 • . 7 0 1 November 20 7 0 0 November 19 7 0 1

Commonwealth Bonds — £ s d. 3 : ,' per cent., 1941-49 ., .. 100 2 6 33 per cent., 1951 .. .. 100 5 0 4 per cent.. 1938 .. 103 5 0 4 per cent., 1941 .. .. 102 2 6 4 per cent., 1944 103 5 0 4 per cent., 1950 .. .. 104 5 0 4 per cent.. 1953 .. .. 104 11 3 4 per cent., 1957 .. .. 103 17 6 4 per cent., 1959 .. .. 104 2 6 Tooths 2 13 0 Australian Gas (A) .. .. 7 7 6 Associated News 1 3 6 (pref.) 1 4 4J: Anthony Hordern .. .. 0 18 'H British Tobacco 2 10 0 Broken Hill Proprietary .. 3 3 0 Dunlop Perdriau 1 2 u Howard Smith 1 0 3 Zinc Corporation 4 ADDITIONAL SALES 19 6 Bank of N.S.W 32 15 0 National Bank (£5 paid) .. 6 17 6 Union Bank of Aust 9 10 0 Colonial Sugar 46 2 6 United Insurance 10 5 0 Mercantile Mutual Insurance 1 10 9 Associated News 1 3 9 (pref.) 1 14 3 Burns Philp (N.Z. delivery) 2 15 0 Tooth’s 2 3 0 Toohey’s 1 11 6 G. J. Coles 4 3 0 Australian Glass .. .. 4 6 9 Dunlop Perdriau .. .. 1 2 4* Stedman’s 0 15 0 General Industries .. .. 0 19 0 Warburton Franki .. .. 1 1 0 Felt and Textiles 1 15 3 Newbold Erick 1 13 6 Gordon and Golch .. .. 2 13 0 Mark Foy 1 2 0 Goldsbrough. Mort .. .. 1 12 6 Winchcombe Carson .. .. 1 11 0 (N.Z. delivery) 1 10 U Wilcox Mofflin 0 10 8 William Adams 0 14 6 Woolworths (ord.) .. .. 1 17 0 Electrolytic Zinc 2 7 9 Mount Lyell 1 13 101 Broken Hill Pty 3 3 0 North Broken Hill .. .. 2 14 0 South Broken Hill ,. .. 1 18 0 Rawang Tin .. 0 10 8

Com. Bank of Aust. . . .. 0 16 11 National Bank (£5 paid) .. 7 0 0 Union Bank of Aust 9 10 0 Adelaide Steam 1 11 0 British Tobacco .. ... .. 2 10 0 Carlton Brewery 3 2 0 G. J. Coles .. 4 2 9 Australian Glass .. .. 4 7 0 Dunlop Perdriau .. .. 1 2 5 Goldsbrough, Mort .. .. 1 12 6 Woolworths (N.S.W.) .. .. 7 7 3 P.lt and Textiles .. •• 1 15 3 Aust. Paper Manufacturers (paid) .. 1 5 n Mount Morgan 0 12 i Mount Lyell 1 13 6 Broken Hill Pronrietary .. 3 3 0 North Broken Hill . • .. 2 13 9 South Broken Hill .. .. 1 17 10| Emneror 0 12 6 Loloma 0 17 3