COMMERCE AND FINANCE

Otago Daily Times, Issue 23491, 4 May 1938, Page 18

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE INTEREST IN AUSTRALIAN SECURITIES Buying support fell away to a marked extent on the Dunedin Stock Exchange yesterday afternoon, and little competition was displayed. Leading Australian industrials, however, were m fair demand. The number of sales recorded was on a par with the previous day, but callroom business was restricted to three transactions in Broken Hill Proprietaries. Bank of New Zealands advanced a further Id, to finish with buyers at £2 3s 9d and sellers 5d away, and the long D shares were firm with unsupplied buyers at £1 9s 4d. E.S. and A. s continued to lose ground on vendors quotations, sellers at £4 19s receiving no response from buyers. National Insurances, which had reported business late on Monday'ht 17s Bd, finished easier, with a final market between 17s 3d and 17s 9d. Shipping and meat preserving shares remained unaltered. , , . Australian Glass moved up Is 3d, but buyers at £4 13s coul d get no response from holders, and Colonial Sugars advanced 12s 6d to a buyer at £49. but again there was no answer from sellers. Since' early in April these shares have advanced by approximately £l. Broken Hill iProprietaries (paid) lost ground to be dealt in at £2 19s 6d and £2 19s 7d. and buyers were close up to sellers when the market closed. Dominion securities again experienced a poor demand, and upward movements were restricted to an advance in buyers’ offer for New Zealand Paper Mills. New Zealand Drugs were a shade easier, and Taranaki Oilfields finished with a margin of Is separating the closing quotations. There was no zest in the demand for Australian mining shares, and a slight easing for certain issues was discernible. YESTERDAY’S TRANSACTIONS Sales on ’Change Afternoon Call

LATEST QUOTATIONS The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual brokerage:— GOVERNMENT LOANS

NORTHERN- EXCHANGES AUCKLAND

CHRISTCHURCH Sales on ’Change

UNLISTED STOCKS All stocks In this section are not quoted on the official list, and transactions are subject to a different rate of brokerage:—

DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly he nayable:—

PRICE OF FINE GOLD

AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, May 3. (Received May 3, at 11.30 p.m.) Colonial Sugar shares advanced strongly to £SO on the Stock Exchange to»day, which is the highest reached on the present capitalisation. Tooths and Australian Glass shares made further headway, otherwise prices were fairly steady.

SYDNEY WOOL SALES (United Hress Association) (By Electric Telegraph—Copyright) SYDNEY, May 3. (Received May 3, at 11.30 p.m.) At the wool sales 6846 bales were offered and 615 Q sold, while 788 were disposed of privately. Shafty descriptions continued to rule in sellers’ favour, with keen competition in all sections of the trade. - Greasy merino realised to 18d.

FOREIGN EXCHANGES (British Official Wireless) (United I’rcss Association) (By Electric Telegraph Copyright)

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

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:—

LONDON METAL MARKET (United Press Association) (By Electric Telegraph—Copyright' LONDON, May 2. The following are tho official metal quotations:—

THE WHEAT MARKET (Untied Press Association) (By Electric Telegraph—Copyright) LONDON, May 2. Wheat cargoes are slightly steadier. Parcels have an easier tendency. Futures: London —May 395, November 32s lid. Liverpool—May 6s 81d, July 6s 7sd, October 6s s^d. Chicago wheat quotations; May 79 cents per bushel, July 77| cents. September 78i‘ cents. NEW GUINEA GOLD SHARES (United Presa Association) (By Electric Telegraph—Copyright) LONDON, May 2. New Guinea Gold shares are quoted at Is lid. DOLLAR AND FRANC (United Press Association) (Bv Electric Telegraph—Copyright) LONDON, May 2. Exchange on New York is quoted at 4.98 11-16 dollars to the £ and on Paris at 1622 francs.

COLONIAL SUGAR COMPANY NEW ARTICLES OF ASSOCIATION SEVERAL REFORMS PROPOSED (Special to Daily Times) AUCKLAND, May 3. A special meeting of shareholders of the Colonial Sugar Refining Company, Ltd., will be held in Sydney on May 25 to consider the adoption of a memorandum and articles of association to replace the existing deed of settlement under which the company at present operates. The articles have been prepared by the company's solicitors. aftd have been settled by the senior counsel and approved by the board. The alterations to the company's practice brought into effect by the adoption of the new articles will include the holding of only one ordinary general meeting a year, to take place in May or June, instead of the former practice of holding two meetings a year, in May and November. Another article provides that the directors’ total remuneration shall be if 5000. instead of £2750 a year as fixed at present. Provision is also being made allowing the company to enter into contracts with the directors or with any company in which a director is interested either as a shareholder or as a director, and that notwithstanding his interest such director can vote on any such contract. This is considered desirable, as members of the board are interested as shareholders or as directors in such a large number of other companies with which the company has dealings that it would be often difficult to obtain a quorum if the usual form of article were included.

The only other vital reform is the elimination of the restriction under the deed of settlement providing that no shares should be transferred to a married woman except jointly with her husband. It is considered that this restriction is no longer necessary, and a married woman will be in the same position as any other person wi'.h regard to the holding and transfer of shares of the company. Apart from these provisions, the new articles will follow the relevant provisions of the company’s present deed of settlement. The company stales that the present form of the company's deed of settlement was prepared and executed in 1855, and has been subsequently amended from time to time. The deed contains certain clauses which set out the objects and powers of the company, while other clauses provide for the internal management of the company. Since the deed was first prepared there have been at least three Companies Acts passed by the New South Wales Legislature, and the last of these—namely, the Companies Act, 1936—has made a number of changes in the law which have had the effect of making the deed of settlement in many respects out of date. In view of this, the board has come to the conclusion that the form of the company’s constitution is obsolete and cumbersome, and has decided to recommend to shareholders that advantage should be taken of the latest Companies Act, which enables a memorandum and articles of association to be substituted for a deed of settlement. . . The memorandum of association, it is stated, expresses the objects of the company in greater detail than the deed of settlement, but does not, it is considered, speaking generally, extend the objects of the company beyond those given in general terms by the present constitution. Objects, however, have been inserted in the memorandum of association which relate specifically to subsidiary businesses carried on or likely to be carried on by the company. The usual half-yearly meeting will be held in Sydney immediately upon completion of the special general meeting on May 25. SUGAR QUOTA PRODUCTION DOMINIONS NOT AFFECTED (United t'ress Association) (By Electric Telearaph— Copyrienr LONDON, May 2. The International Sugar Council’s reduction of 5 per cent, in the foreign quota for the current year will not affect the irreducible quotas for Australia, South Africa and the colonies, but is designed to equate the supply and demand. It is expected that indirectly it will be of advantage to Australia in an enhancement of the price.

BULOLO SHARES (United Press Association) (By Electric Telegraph—Copyright) LONDON, May 2. Bulolo shares are quoted at 100 s. BRADFORD MARKET LONDON. May 2. The Bradford market is firm and unchanged. LORNEVILLE STOCK SALE SHEEP PRICES IMPROVE (Per United Press Association) INVERCARGILL, May 3. Fat lambs averaged about Is a head above schedule rates at Lorneville stock sale to-day. Heavy butchers ewes sold at from 2s to 2s 6d a head better than last week, and freezing owes were Is dearer. There was a good demand for store sheep and lambs, which also improved by round about Is a head. Values for good quality cattle were about the same as they were last week. Fat Lambs.—Extra prime heavy lambs made to 27s 6d; prime heavy freezing weights, 26s to 26s 9d; pnnie quality, 24s 6d to 25s 3d; medium. 20s to 22s 6d. , , Fat Sheep—Prime butchers’ wethers made from 23s to 30s; good quality, 26s to 275; medium, 24s Od to 25s 6d; lightweights, down to 225; extra prime heavy young ewes brought ud to 245; prime heavy-weights, 19s to 21s; good quality, 17s to 18s; medium, 15s to 16s; freezing ewes, 14s 6d down to 10s. Fat Cattle.—Prime quality bullocks realised from £l2 to £l3 7s 6d; prime quality handy weights, £lO 15s to £ll 10s; lighter weights, £9 15s to £lO 10s; extra prime quality cows, up to £11; prime quality, £9 5s to £10; cood quality, £7 15s to £8 10s; medium, £6 5s to £7; unfinished. £4 to £5 ss; prime quality handy weight heifers, from £7 15s to £8 15s: lighter weights, £6 10s to £7 ss; small, £5 to £5 15s.

SHEEPSKIN REPORT The Dunedin Wool Brokers’ Association (Messrs Dalgcty and Co., Ltd., National Mortgage Agency Company Ltd., New Zealand Loan and Mercantile Agency Company, Ltd, Otago Farmers’ Co-operative Association, Ltd., Donald Reid and Co., Ltd., Wright. Stephenson, and Co., Ltd., and Stronach, tVJorris, and Co.. Ltd.) report as follows: The fortnightly sheepskin sale was held yesterday, when mediumsized catalogues were offered to a small attendance of buyers. There was fait competition for first-quality fullwoolled, crossbred, and halfbred skins, and these sold on a par with late ruling rales, short wools being from par to a shade easier. Faulty sorts, however. were neglected and showed a drop of Id to lid per lb on the previous sale's rates. Quotations are as follows:—Halfbred full-wools to 9Jd; halfbred three-quarter-wools, to B:,'d; halfbred half-wools, to G.?d; halfbred quar-ter-wools, to 6d crossbred full-wools, to 73d: crossbred three-quarter-wools, to 7.1 d; crossbred half-wools, to 6.3 d; crossbred quarter-wools, to 5i d; halfbred hoggets, to 8d; crossbred hoggets, to 7-id; first pelts, to 4Jd; second pelts, to 23d; f. crossbred full-wools, to BJd; f. crossbred three-quarter-wools, to 74d: f. crossbred half-wools, to 63d; f. crossbred quarter-wools, to 54d; crossbred dead and damaged. 3d to 53d; f. crossbred dead and damaged. 4d to 6id; halfbred dead and damaged, 5d to 73d; halfbred lambs, to 7,1 d; crossbred lambs, to 63d.

MINING NEWS RIMU DREDGE RETURN (Per United Press Association) HOKITIKA, May 3, The return of the Rimu dredge was 170.550 z for 107 hours’ work, 39,70(3 yards being treated. SANDHILLS COMPANY RETURN OF 40 OUNCES Advice has been received from the claim's manager of the Sandhills Mining Company, Ltd., that from a washup on Monday a return of 40oz 12dwt of gold was obtained. This represents the return from the fourth paddock to be taken out on the eastern bank of the river, where work was commenced on April 18. McKENZIE’S STORES FINAL DIVIDEND RECOMMENDED (Per United Press Association) WELLINGTON, May 3. McKenzie’s Departmental Stores in a preliminary announcement state that the directors have decided to recommend at the annual meeting a final dividend of 9 per cent., making 18 per cent, for the year. This dividend will be paid on £500,000, while the interim dividend of 9 per cent, was paid on £400,000. The trading companies gross profit was £127,965, less tax £42,613, and the net profit was £85,352. SHARE QUOTATIONS LONDON. May 2. Share Quotations.-—Clutha River: Buyers Is 7Jd, sellers Is, 104 d. Molyneux River: Buyers Is, sellers Is 3d.

£ a. d. Broken Hill Proprietary .... 2 19 7 (2) 2 19 6 Sales Reported National Insurance • (Isite Mon.) 0 17 8 4 p.C. Stock, 1943-46 .. ..* .. 102 10 0 Sandhills .. 0 0 2 G. J. Coles 4 0 0 Yarra Falls 1 17 4

Buyer. Seller. £ s. d. £ S. d, S| p.c. Stock, Nov.. 1938-52 103 5 0 — Si p.c. Stock, May, 1939-52 103 0 0 — 4 p.c. Stock, 1943-46 .. 102 0 0 — 4 p.c. Bonds, 1946-49 .. 102 2 6 4 p.c; Stock. 1946-49 .. 102 2 6 — 4 p.c. Bonds, 1952-55 .. 104 0 0 — 4 p.c. Stock, 1952-55 .. — 104 5 0 MINING Big River (Is) .. .. 0 1 0 — Ciutha Rlvei 1 (2s) .. 0 2 0 0 2 9 Gillespie’s Beach (Is) 0 0 9 , 0 O’104 Grey River’ - — 0 12 6 Martha (5s) .. .. .. 0 14 0 — Molyneux River , (2s) 0 1 3 — Mossy Creek (Is) .. 0 1 0 — Nokomai (5s) .. .. 0 1 4 0 1 9 Okarito (5s) .. .. ' ’• 0 3 0 Paddy’s Point (5s) .. — 0 1 0 Sandhills (Is) 0 0 « 1 0 0 2 Waipapa Beach (Is) ., — 0 0 1 BANKING N.S.W. (£20) .. .. 31 10 0 32 2 6 N.Z. (£1) 2 3 9 2 4 2 N.Z. (long D; £1) .. 1 9 4 — Commercial (10s) 0 16 3 — domra, (pref.; £10) .. 9 6 0 — Comm. of Sydney (£12 10s) — 21 0 0 E.S. and A. (£3) — 4 19 0 Natl, of N.Z. (£2 10s) 2 13 0 2 14 6 Natl, of A’asia (£10) — 14 0 0 Natl, of A'asla (cont.; £5) — i 7 0 0 INSURANCE National (7s) .: ., 0 17 3 0 17 9 SHIPPING Huddart, Parker (ord.; £1) — 2 6 0 Huddart, Parker (pref.; £1) 1 8 0 — P. and O. Def. Stock (£1) 1 b 6 — U.S.S. Co. (pref.; £11 1 7 0 — MEAT PRESERVING N.Z. (Refrig. (pd„ £1) 0 18 4 — N.Z. Refrig, (cont.;: 10s) — 0 8 4 South, Frozen Meat (paid; £1) .. .. 1 7 9 — South Otago Freezing (£5) .. 5 6 0 5 10 0 GAS Christchurch (£1) 1 7 6 — WOOLLEN COMPANIES Bruce (pref.; £1) .. — 1 2 6 Manawatu — 1 15 0 Wellington (ord.; £5) — 5 8 0

LOAN AND AGENCY Goldsbrough Mort (£1) 1 10 6 N.Z. Loan and M, (ord.; £100) .. .. 37 0 0 — N.Z. Guarantee Corp (3s) 0 4 2 0 4 6 Otago Farmers (3s 4d) 0 2 9 — Trustees, Executors (£2) 3 15 0 — Wright. Stephenson (pref.; £1) .. .. 1 0 9 — COAL Kaitangata (16s) 1 9 0 — Westport (10s) .. .. 1 3 6 — MISCELLANEOUS Anthony Hordern (£1) 0 18 3 0 18 9 Associated News (pref.; £1) .. 1 3 9 Aust. F Trust .. .. — 0 4 8 Australian Glass (£1) 4 13 0 — British Tobacco (£1) 2 8 0 2 8 7 Broken Hill Ply. (£1) 2 19 6 19 8 Broken Hill Pty. (cont.; 10s) .. .. — 1 16 0 Brown, Ewing (pref.; £1) 1 0 9 — Colonial Sugar (£20) 49 0 0 — Consolidated Brick (£1) .. .. .. .. — 0 8 0 Crystal Ice (£1) — 2 6 6 D.I.C. (ord.; 10s) — 0 14 9 D.I.C. (pref.; £1) .. 1 3 0 — Dominion Fertiliser (£1) 1 4 6 — Donaghy’s Rope (£1) — 2 6 3 Stock Exchange ' Pty. (£1) .. .. .. ;* ■ 2 2 0 — Dunlop Perd. Rubber (£1) — 1 2 3 Felt and Textiles .. — 1 13 0 G. J. Coles (£1) .. — 4 0 3 Hume Pipe (£1) — 0 19 0 Mort’s Dock (£1) — 0 11 0 McKenzies D. Stores .. — 3 10 0 Natl. Electric (£1) .. — 0 15 6 N.Z. Drug Co. (£2) .. 3 8 0 3 8 0 N.Z, Paper Mills (£1) 1 4 6 — Regent Theatre (£1) 0 19 0 — Smith and Smith (pref.; £1) .. .. 1 0 0 — Taranaki OH (£1 4s 7d) .. .... .. 0 7 0 0 8 0 Woolworths (ord.; (£1) .. — 1 1 6 Woolworths (Sydney) 1 2 0 1 2 6 Woolworths (South Africa) .. .. .. 0 15 4 — Bonds Hosiery .. .. — 0 17 0 BREWERIES New Zealand (£1) .. 2 4 3 2 5 0 Tooths (£1) .. .. 2 150 — AUSTRALIAN MINING Broken Hill South (5s) 1 9 9 1 10 0 Electro. Zinc (pref.; £1) 2 5 0 2 6 0 Electro. Zinc, (ord.; £1) .. — 2 2 0 Emperor (10s) .. .. — 0 12 6 Mount Lyell (£1) .. — 1 7 8 Mount Morgan (2s 6d) 0 8 9 0 9 1 North Broken Hill (5s) 2 8 3 2 8 6 Placer Developments 3 7 0 —

£ s. d. £ s. d. Mackintosh, Caley, Phoenix (£1) .. .. 0 5 0 0 10 0 Selfridges (Aust.) 0 15 0 0 17 0 A. and T. Burt (pref.; £1) 0 11 0 0 13 0 Snowhite Laundry .. — 0 17 6 Blackball Creek (Is) .. 0 1 0 0 1 9 Woolworths Properties (rights) 0 3 a 0 3 S

Bank of' Adelaide—5 per cent. per annum To-day Martha Gold—Final Is per share (free from, income tax) .. May 6 Sharland and Co., Ltd.—Interim, 2J per cent. ... .. May 10 Australian Iron and Steel-^ Pref.,' 7{ per cent, per annum (less statutory reduction) half-yearly .. ,. May 12 Mosgiel Woollen Company— Interim 4 per cent May 13 E.S. and A. Bank—Interim 3J per cent, (less English income tax) May 16 National Insurance Company —Interim, 4d per share .. May 17 Younghusband and Co.—Final 5 per cent., making 10 per May 17 cent, per annum Donaghy’s Rope and Twine Company, Ltd.—Final Is per share May 18 N.Z. Paper Mills—Final 4 per cent., making 7 per cent. for year Dalgety and Co.—Interim, 3s May 19 per share at rate of 6 per cent, per annum May 20 Tui Brewery—Interim, 5 per cent May 21 Bank of New South Wale.? — Quarterly at 6 per cent, per May 26 annum Loloma (Fiji) Gold Mines—Is per share May 27 Broken Hill Proprietary — Half-yearly, Is 3d, and on new shares 2£d per share, Australian currency .. .. June 1 Swan Brewery, Western Austrr.lia—Ord., 6d and bonus 3d per share; and pref. .. June 1 Imperial Chemicals. Ltd.— Final 5J per cent., making June 1 81 per cent, per annum .. Henry Jones Co-operative, Ltd. —Interim. 6d per share June 1 Dominion Fertiliser Company —6 per cent, per annum (about) June 8

Sales on ’Change £ s. d. Stock, 1946-49. 4 p.c. .. 102 5 0 Stock, 1953-57, 3J p.c. 98 5 0 Com. Bank of Aust. (pref.) 29 10 6 Bank of New Zealand 2 4 0 N.Z. Insurance .. .. .. 2 18 6 Auckland Gas (cont.) 0 14 0 Tooths Breweries 1 16 7 G. J. Coles 4 0 0 3 19 9 Grey and Menzies .. .. 0 13 6 Woolworths (Syd.) 1 2 2 Woolworths Properties (rights) ' .. 0 2 10 (rights) 0 3 0 (rights; 2) 0 £ 1 Skippers 0 0 0z Mount Lyell 1 7 0

WELLINGTON Sales on ’Change South British Insurance (late Mon.) 2 4 6 Stock, 1938-52, 34 p.c. (2) .. 103 7 6 Bank of N.Z 2 4 0 Bank of N.Z. (D long term) 1 9 6 Bank of N.S.W 31 17 0 Christchurch Gas 1 7 9 National Insurance .. .. 0 17 7 British Tobacco .. .. .. 2 8 n 2 8 4 Electrolytic Zinc (prof, 2 5 3 (2) 2 5 9 G. J. Coles 4 0 0 G. J. Coles fpref.) .. .. 1 15 104 Woolworths, Ltd. (ord.) 1 2 1 Woolworths, Ltd. (ord.; 2) 1 2 2 Woolworths, Ltd. (rights: 2) 0 2 11 (7) 0 3 0 0 3 04 (2) 0 3 1 (2) 0 3 2

N.Z. Govt. 3J p.c. Inscr., 1939-43 100 0 0 N.Z. Re frig. (10s paid; 3) 0 8 3 N.Z. Breweries 2 4 9 Ausl ralian Glass .. .. 4 13 0 Broken Hill Propy 2 19 10 2 19 8 2 19 6

Dunlop Rubber 1 21 1 2 0 Electro. Zinc (pref.; 2) 2 5 9 (pref.) 2 5 5 G. J. Coles 4 0 2 Taranaki Oilfields .. .. 0 7 5 Woolworths Properties (rights; 2) 0 3 1 (rights) 0 3 2 (rights) 0 3 3 (rights: 4) 0 3 4 (rights) 0 3 3 (rights; 2) (rights; 6) 0 3 2 0 3 3 Woolworths (Syd.; ord.; 2) 1 2 2 (Syd.; ord.) 1 2 3 Woolworths (South Africa; 3) 0 15 5 Broken Hill South (cum div.) 1 10 0 Mount Lyell (3) .; .. .. 1 7 0 1 6 11 (2) 1 C 10 1 (1 11 Mount Morgan 0 8 11 North Broken Hill (3) 2 9 0 Sales Reported Christchurch Gas .. .. 1 7 9 N.Z. Breweries 2 4 8 Tooths Brewery 2 18 9 Dominion Fertiliser .. .. 1 5 6 Skippers 0 0 0.} Mount Lyell .. 1 7 0 N.Z, Farmers’ Fertiliser .. 0 19 3 Woolworths (ord.) .. .. 1 2 3

THE MORNING SALES £ s. d. Commonwealth Bonds— 4 p.c., 1941 103 10 0 4 p.c., 1950 104 2 6 4 p.c., 1953 104 12 6 Tooths 2 V 0 Anthony Hordern (pref.) .. \ 3 6 Australian Glass 4 15 0 British Tobacco .. .. ,. 2 8 9 Broken Hill Pty 3 0 3 Electrolytic Zinc .. .. 2 1 6 Electrolytic Zinc (pref.) .. 2 6 0 Coles 4 0 3 Howard Smith 1 1 3 ADDITIONAL SALES Bank of New South Wales 32 0 0 Colonial Sugar 50 0 0 Associated News 1 1 104 Burns, Phllp ., 2 13 6 Australian Gas (A) .. .. 7 9 6 British Tobacco 2 8 3 Tooths 2 17 0 Australian Iron and Steel (pref.) 1 7 3 Australian Glass 4 14 9 Dunlop Perdriau 1 2 3 Dunlop Perdriau (pref.) .. 1 17 3 General Industries .. .. 0 19 3 Felt and Textiles .. .. .. 1 13 0 Newbold Brick 1 11 0 W. H. Soul 4 8 0 Wilcox. Mofflin 0 8 9 South Broken Hill .. .. 1 10 3 North Broken Hill .. .. 2 8 9 Placer Development .. .. 3 12 0 Sulphide Corporation 0 10 0 Emperor .. .. 0 11 104 Goodlet Smith 2 2 0 Amalgamated Wireless (cont.) .. 2 10 3 Amalgamated Wireless (New Zealand delivery) 2 10 3 Woolworths 1 2 6 MELBOURNE, May 3. Industrials generally showed little change on the Stock Exchange tb-day. The mining section was slack. £ s. d. Commercial Bank of Australia 0 16 7 Cox Bros 0 15 6 Coles .. ,. 4 0 0 Drug Houses ,. Australian Glass .. .. .. 1 5 44 4 14 6 Dunlop Perdriau .. .. .. 1 2 3 Australian Foundation Investment Trust . 0 4 5 Electrolytic Zinc (pref.) .. 2 5 9 Mount Lyell 1 7 6 Broken Hill Proprietary .. 3 0 0 North Broken Hill .... 2 8 3 South Broken Hill .. .. 1 10 3 Emperor • .. .. 0 11 8

(United Press Association) (By Electric Telegraph—Copyright) LONDON, May 2 £ s. d. May 2 .. 6 19 6 April 30 6 19 6} April 28 .. . . .. 6 19 G April 27 6 19 7 April 26 6 19 5J April 23 6 19 3 April 22 6 19 6 April 21 6 19 6 April 20 6 19 6 April 19 6 19 6

Paris— Par. RUGBY, Apl. 29. May 2. May 2. Francs to £1 124.21 162 13-10 162 13-16 Brussels— Bellas to £ 1 30 29.02 29.60 Oslo— Kroner to £ 1 13.180 19.90 19 90 Stockholm— Kroner to £ 1 18.130 19.401 19.40} Copenhagen— Kroner to £ 1 18.150 22.40 22.40 Berlin— Marks to £1 20.34 12.40 12.40} Montreal— Dollars to £1 4,80 2-3 5.011 5.013 New York — Dollars to £1 4.86 2-3 4.983 4.98 11-16 Yokohama— Pence to yen 34.582 14 14 Hongkong— Pence to dollar 24.58 IB 14 15-16 Bombay— Pence to rupee 17 59-64 17 31-32 Batavia— Florins to £1 12.10 8.95} 8.95} Milan— Lire to £1 82.48 94 13-16 943 Amsterdam— Guilder to £1 12.107 8.90 8.96 Prague— Kroner to £ 1 1041 143 3-10 113} Geneva— Francs to £1 25.221 21.60} 21.68} Vienna— Schillings to £1 84.801 261 211} Helsingfors— Marks to £ 1 103,23 2261 226} Madrid— Pesetas to £ 1 25.221 - Belgrade— Dinars to £1 25.221 217 2ir Athens— Drachmas to £1 875 547} 5471 Lisbon — Escudos to £1 110 102 3-16 102 S-16 Bucharest— Lcl to £1 931.6 6771 677} Rio de Janeiro— Pence to mllrcls .. 5.890 2 13-16 2 13-16 Buenos Aires— Pence to pesos 47,22 19.04} 19.03 Shanghai— Pence to tael _ 13} 12} Montevideo— Pence to pesos — 20 20 Warsaw— Zlotys to £ 1 - 26.43 26.43

London— £1 N.Z. to £100 stg T.T. 124/10/O.D 123/10/124/8/9 Australia— £ A. to £100 N.Z. T.T. 100/10/O.D, 101/-/-100/10/ Fiji— £ P. to £100 N.Z. T.T. 90/7/6 80/-/-0 D. 00/7/6 89/-/-New York— Dollars to £ N.Z. T.T. 4.0331 3.0985 O.D. 4.0131 4.0025 Montreal— Dollars to £ N.Z. r.T. 4.0535 4.0210 O.D. 4.0655 4.0250 Austria— Schillings to £ N.Z T.T. — — O.D, — Belgium— Belgas to £ N.Z. T.T. 23.983 23.673 O.D, 24.058 23.684 Czechoslovakia— Korunas to £ N.Z. T.T. 114.12 O.D. — 114.17 Denmark— Kroner to £ N.Z. T.T. 18.203 17.893 O.D. 18.203 17.899 Finland— Marks to £ N.Z. ' ' T.T. 184.97 179.17 O.D. 185.37 179.27 Prnnee— Francs to £ N.Z. T.T. — 129.03 O.D. — 129.07 Germany— Reichsmarks to £ N.Z. .. .. T.T. — 9.892 O.D. — 0.897 Greece — Drachmae to 429.54 £ N.Z T.T. O.D. 429.84 Holland— 7.151 Florins to fl N.Z, T.T. 7.301 O.D. 7.341 7.155 Italy— 76 Lire to £ N.Z. T.T. — O.D. — 76.05 Java— 7.129 Florins to £ N.Z. T.T. 71279 O.D. 7.310 7.133 Nonvajr— 15.892 Kroner to £ N.Z T.T. 16.182 O.D. 16.242 15.898 Noumea — Francs to £ N.Z. T.T. — 127.78 O.D — 127.82 Papeete— Francs to £ N.Z. T.T, — 127.83 O.D, — 127.87 Sweden — Kroner to £ N.Z. T.T. 15.792 15.497 O.D la.852 15.503 Switzerland— Francs to £ N.Z. r.T. 17.601 17.331 O.D 17.700 17.336 Chefoo— N.Z. pence to 1 dollar .. .. T.T. — 10 29-32 O.D — 10 57-04 Hongkong — N.Z. pence to 1 dollar t, ., T.T 183 18J O.D 18 11-32 183 India and Ceylon— N.Z. pence to 1 rupee .. .. T.T. 22 3-16 22 15-32 O.D. 22 5-32 22 15-32 Japan — N.Z. pence to 1 yon .. .. T.T. — 17 33-64 O.D. — 17 33-64 Manila— N.Z, pence to 1 peso . . .. T.T. 29 35-04 30 3-64 O.D. 29 29-04 30 3-64 Shanghai— N.Z. pence to 1 dollar .. .. T.T. — — O.D. — — Singapore— N.Z. pence to 1 dollar T.T. 34 29-01 34 15-16 O.D. 34 23-04 34 15-16 All rates subject to alteration without notice.

U.S.A. Canada. (Per £1 (Per £1 N.Z.) N.Z.) Selling: Dels. Dels. T.T. . .. 3.99J 4.02 O.D. .. 4.00 5-16 4.02 7-16 Buying: O.D. .. 4.04 3-16 4.06 7-16

Copper, spot £38 Ton II IO'/a Fall £0 13 l'/a Copper, forward 38 16 IO'/a Fall 0 13 0 Electrolytic, spot 42 10 0 Fall 0 15 0 Electrolytic, forward 43 10 0 Fall 0 15 0 Wire ban .. 10 0 Fall 0 15 0 Lead, spot .. .. 14 4*/, Fall 0 5 0 Lead, forward .. 14 IS IO'/a Fall 0 5 0 Spoiler, spot 12 8 I'/a Fall 1 1 3 Spelter, forward 12 II IO'/a Fall 0 18 9 Tin, spot .. .. 6 0 Fall 6 7 G Tin, forward 158 2 6 Fall 6 3 0 Silver, standard Oz. 18 116d No change Silver, fine 20 3- led No change