COMMERCE AND FINANCE

Otago Daily Times, Issue 23501, 16 May 1938, Page 14

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE SHARP RISE IN G. J. COLES A sharp rise in G. J. Coles, which were dealt in on 'Change at £4 3s 6d, was the outstanding feature of activities oil the -Dunedin Stock Exchange on Saturday morhing. The Australian mining section again aroused little interest among investors, hut there was .no sharp writing-down m values. ' ’ Sellers of-banking shares were mo.c numerous than buyers, and Bank oi New Zealands, Which finished with unsatisfied buyers at £2 4s, •shewed an easing tendency. National Bank® of New Zealand were also slightly easier, a buyer securing a parcel after the last call-over at £2 13s. Apart from a minor easing in Nationals, in? surance shares were virtually unaltered. ■ j A Among shipping shares P. and O. Deferred Stock slipped back to a buyer at £1 6s 6cJ, without, however, attracting- any response from holders. Meat preserving shares closed firm on recent quotations, and the loan and agency section was quiet, but steady. Kaitangata Coals (ex div.) settled down to a market between £ 1 7s and £ 1 /9s ■ t '' V’■ • Broken Hill Proprietaries were fairly wellisupported, but Commonwealth industrials were not so popular as for '": erly South African Woolworths (5s paid) xhaintained their recent improvement, and finished with buyers offering 16s 2d and sellers asking 17s. Taranaki Oilfields registered a move forward again, and after changing hands at 7s 4d, finished with bujers at that figure and holders at 7s ho. The same price of £.l 5s was offered bv a buyer of Dunedin-Kaikorai tiam ■hares, but no sellers came forward. Only three buying quotations were registered in the Australian mining ■ection, which was extremely dull.

NORTHERN EXCHANGES AUCKLAND Sales on ’Change

WELLINGTON Hales on ’Change

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 rat? of brokerage:— £ s. d. £ s. d. A. and T. Burt (pref.;

£1) 011 0 013 0 Selfridges (Aust.) .. 015 0 Blackball Creek (Is) 0 12 Woolworths Properties (rights) ... .0 3 6 Snowhtte Laundry .. 010 0 017 G ♦♦Ex dividend. DIVIDENDS PAYABLE The following is a list of share? on which dividends will shortly be nayable:— E.S. and A. Bank—lnterim 3J per cent, (less English in-, come tax) . .f To-day-Nemona Dredge— 2d (free-of income tax)' ,V .. J' V, . To-day’ Den tar and Medical—s per cent, per annum . . . ; .. To-day National Insurance Company —lnterim,- 4d per share ; .. . May 17, Younghusbahd and Co.—Final ' u 5 ber cent., making 10 per cent, per annum .. .i May 17 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 May 19 Dalgety and Co.—lnterim, 3s per share at rate of 6 per cent, per annum May 20 Tui Brewery—lnterim, 5 per cent May 21 Argo Gold (No. 13)—Id per share May 23 Bank of New South WalesQuarterly at 6 per cent, per annum .. • • May 26 Dunedin Brewery and Wilson’s Malt Extract Company —Final, 4 per cent, (making 7 \ per cent, for the year) .. May 26 Westport Coal CompanyInterim, 6d per share . . May 27 Loloma (Fiji) Gold Mines—ls per share .. .. . • • • May 27 Union Steam—Pref., interim;, 23 per cent May 31 Farmers’ Trading Company, Auckland—Finals A and B pref., 5 3-5 per cent, per annum, C pref., 5 per cent. per annum ... May 31 Taringamutu Timber—2i per cent. .. ..... .. .. .. Juno 1 Broken Hill Proprietary-Half-yearly, Is 3d, and on new shares 2£d per share, Australian currency .. .. June 1 Swan Brewery. Western Australia—Ord., 6d and bonus 3d per share: and pref. .. June 1 Imperial Chemicals Ltd.— Final 5J per cent., making 8i per cent, per annum .. June 1 Henry Jones' Co-operative. Ltd.—lnterim. 6d per share June 1 Dominion Fertiliser Company —6 per cent, per annum (about) June 8 Bank of N.Z.—Final. Is per share, or 10 per 'cent, per annum June 10 Broken Hill South—lnterim,

LONDON MEAT MARKET LATEST SMITHFIELD PRICES (Per United Press Association) WELLINGTON, May 14. The New Zealand Meal Producers Board advises that the following -ire the ruling prices ol wholesale quantities of the description! of frozen meat mentioned and are foi representative narcels of the eoods sold on. Thursday, May 12. Chilled beef prices arc averages of the week on which this list is issued All prices are on the basis df delivered to Smithfield Market. (Previous prices arc also

Lamb Market.—Easier feeling as higher prices tending to reduce consumption, especially in view of lower prices home-killed. *•; Mutton Market.—Wethers and ewes: 'Steady with prices Unchanged, with trade slow. Beef Market.—Frozen beef: Nominal. Chilled beef: easier, particularly fores, owing to heavy supplies and., warm weather,. . ' . NeW Zealand Porker Pigs—Easier, owing to poor demand. ; . New Zealand Baconer Pigs.—Tendency is easier owing to lower bacon prices. ( The Bank of New Zealand has received the following advice from its London office as at close of business on Friday:— Frozen Meat. The market for wethers is firm but trade is slow for ewes, while the market for lambs is steady. Wethers, light 5d to 53d per lb, heavy 4&d to 4£d per Jb; ewes, to 4d; lambs, twos 7gd to 73d, eights 7Jd to 7gd, fours 7£d to 7Jd seconds ?|d to 7id. LONDON STOCK EXCHANGE DULL AND IRREGULAR (United Press Association) (By Electric Telegraph—Copyright) LONDON. May 13. The repatriation of the franc had little effect on the Stock Exchange, which was very dull and irregular. The effect of the Australian and London County Council loans has been to depress gilt-edged securities generally. The selling of New Zealand stocks was specially evident, following criticisms of the Dominion in the popular press. Industrials were irregular,'commodities slightly dearer.

FOREIGN EXCHANGES (British Official Wireless) (United Bress Association) (By Electric Tclcgrapn—Copyright)

ON NEW ZEALAND CURRENCY BASIS Tlio Hank of Now South Wales, Dunedin, (looted the following rates for purchases and sales of foreign exchange on Saturday:— Ilnylng. Selling.

DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday on a New Zealand currency basis. They are subject to alteration without

LONDON METAL MARKET (United Press Association; (By Electric Telegraph—Copyright■ LONDON May 13, The following are the olltclal metal nuotationj:

CONTRACTS FOR WHEAT ENCOURAGING LARGER ACREAGE To encourage growers to sow larger areas of wheal, the New Zealand Flourmillers’ Society has decided to urge its members to contract with growers for the growing of any variety of wheat in any locality. Before taking the step, the society referred the proposal to the Wheal Committee, which agreed that such contracts would be in accordance with the wheat and Hour regulations, and would be most valuable to the industry The United Wheatgrowers’ Association, which was also approached, has also expressed itself in full agreement with the step taken. Growers are to be sent circulars advising them of the new development. Amy grower wanting to take advantage of the offer is advised to consult his usual broker, who will obtain full particulars from the mills concerned. In the past, millers have been in the habit of contracting only for special varieties of wheat, such as Jumbuck and Marquis, but they arc now prepared to enter into similar contracts for. any variety, grown in any locality.

DOMINION FERTILISER COMPANY DIRECTORS* ANNUAL REPORT SIX PER CENT. DIVIDEND RECOMMENDED The eighth annual report of the directors of the Dominion Fertiliser Company, Ltd., which will be presented at the annual meeting of the company, to be held in the Public Trust Office board room on June 7. states that the unappropriated balance brought forward from the proiit and loss account last year was £IO2B Os lid. which, with the net profit for the past year of £21,126 13s 6d. leaves the sum of £22.154 14s 5d available for appropriation. The sum of £6OOO has been applied in writing off the whole of the balance of the establishment account, and the directors recommend the payment of a dividend of 6 per cent., absorbing £14.433 10s lOd. This will leave the sum of £1721 3s 7d to bo carried forward to next year. The retiring directors, Mr P. McSkimming and Mr James Fletcher, are eligible for re-election, and shareholders will be asked at the annual meeting to fill the vacancy on the directorate caused by the resignation of Mr R. L. Byars. LONDON WOOL SALES (United Press Association) (By Electric Telegraph— Copyright) LONDON, May 13. At the wool sales 7812 bales were offered, including 947 from New Zealand; 6372 were sold. There was a failselection, active demand, and a good clearance, but slipes and speculators' lots of greasy merinos were frequently withdrawn owing to firm limits. The first week of the sales closed with a satisfactory tone. Prices ruling were unchanged on the opening rates, with -the exception of slipes which continued irregular. The Bank of New Zealand has received the following advice respecting the London wool sales: —Competition remains keen with the market fully firm on opening rates. Quotations: New Zealand greasy merinos: Super, 60/64's quality, 14d to I4ld per lb: ordinary, 60/64's quality, ]2d to 13d; inferior 60/64's quality. 9id to lOd. New Zealand greasy halfbreds; 56/58's quality, 12d to 12Jd; 56’s quality, lljd to 12d; 50/56's quality, 103 d to Hid. New Zealand greasy crossbreds: 50's quality. 10id to lid: 48/50’s quality. 10id to 103 d: 46/48’s quality, lOd to lOAd; 44/46’s quality, lOd to 10 ad; 40/44’s quality. lOd to lOJd; 36/40’s quality, lOd to 10id. MERCHANDISE MARKET SCARCITY OF PEAS LIKELY The Waitaki, which is due to-mor-row from Melbourne, will land supplies of Mildura sultanas and new season’s evaporated apricots, as well as a considerable quantity of Ceylon tea and dessicated cocon-ut, transhipped at Melbourne. The Kauri is due on Thursday from Adelaide. She will land dried apricots, salt and Australian -wines. There will probably be a considerable shortage in marrowfat and blue Prussian peas, following on the drought conditions experienced in Marlborough. High prices are now ruling. A new pack of pears in 12oz tins has reached the market. This line is from Hastings. Merchants have received advice that the Californian packers of evaporated pears have sold their outputs, and that there will be no further supplies for the local market this season.

The Waimarino and Port Whangarei landed cargoes of sugar last week. The Waipiata is due at the end of the week with further supplies. Medium cheese has now been practically all sold out of the factories, and high prices are ruling for any available supplies. The position regarding supplies of loaf sugar is even moreacute.

Advice from the Australian Fruit Board states that there is a definite shortage of One Crown sultanas. Importers are, as a consequence, requested to concentrate on two Crown. Following on a shortage of pigs, the price of bacon has been advanced by td a pound throughout the' Dominion. Bisto and Kelto gravy, Cerebos, and Saxa salt are showing an increased landed cost.

Californian prunes are very firm. The price of glycerine has been reduced. This is the second reduction recorded in the past few weeks. The latest advice to hand states that Java shelled peanuts have been advanced in price. It is reported that there is a shortage of good quality nuts. The new season’s will not arrive until August. It will cost more money to land incoming lines of Indian lentils. WOLFRAM (United Press Association) (By Electric Telegraph—Copyright) LONDON, May 13. (Received May 15, at 5.5 p.m.) Wolfram. 39s 6d nominal. PRICE OF FINE GOLD

FRUIT AND PRODUCE WORLD Reilly's report selling;— Per Dozen. —Lettuce; Choice, 2s to 3s. Carrots, Is. Spinach. Is. Eggs, 2s 6d; pullets, 2s; preserved. Is Bd. Cucumbers, 6s to 10s 6d. Section honey, 8s to 9s 6d; 21b pottles honey. 18s. Mutton birds, 9s 6d dozen. Each.—Champion egg crates; 24 dozen, 18s. Per Case, —Californian lemons, 555. New Zealand lemons, 12s to 14s. Jamaican oranges, 30s to 355; Island oranges, 11s to 19s 6d; Californian. 355. Bananas: Ripes, to 17s. Apples: Cox’s Orange extra choice 6s to 8s 6d, small sizes 4s to ss; Jonathans, 4s to 6s 6d; Delicious, 4s Od to 8s 6d; Golden Delicious. 5s to 7s; Granny Smith, 5s to 6s 6d: Tasmas, 5s to 6s 6d; Sturmers. 5s to 6s 6d: cooking apples, 3s to ss. Quinces. 4s to 6s. Pears; Winter Cole, 5s to 6s 6d: Winter Nelis, 4,s 6d to 6s 6d; Buerre Clairgeau, ss. Per Half-case. —Winter Cole. 2s 6d to 3s 6d; Winter Nelis. 3s 6d. Per Pound. —Grapes, Is 4d to Is 6d; Gros Colmars. Is lOd to 2s 3d, Local tomatoes: Firsts. Is to Is 2d, small dessert, 9d to lid. Christchurch hothouse tomatoes: Firsts. Is to Is Id; small dessert, 9d to 10£d. Green tomatoes, IJd. Kumeras, 2d. Tea: Orange Pekoe, 2s lOd. Cheese, 9d. Butler: Storekeepers', 10d. Bacon: Prime. Is 2d. Bacon and porker pigs, 6jd to 7Jd; overweights, 4d. Bulk honey, 6d to 7d. Beeswax, Is Id. Walnuts. 8d to lOd. Chestnuts. 6d to Bd. Per Sack. —Cauliflowers, 8s 6d. Cabbage, 4s to 5s 6d.

Per Hundredweight.—Marrows, 6s to 7s. Onions: Canterbury, 12s Gd. Potatoes: Arran Chief. 5s to 6s; King Edwards. 7s. Pumpkins, 9s. Pic melons, 10s.

Olive oil, 18s, Lime sulphur, 3s gallon. Restar: J-gallons, 4s Gd. Semesan: 11b, 12s Gd. Red Rose nicotine sulphate, 455; 21b, 14s Gd; lib, 8s Gd; ilb, ss. Arsenate of lead paste. 9d to Is 3d; powder, Is to Is Gd. Red oil, 4s ,9d. D.P. Derris, for white butterfly control: 11b tins, 2s 3d: 101 b tins. 17s Gd. Fowl wheat, to 7s. Partridge peas, 6s 6d. Maize, 7s. Oats: Gartons, 3s 9d to 4s 3d bushel. Crushed oats. 15s. X Keys meatmeal, 15s bag. Pollard. £6 15s. Chaff: 8.0.5., £5 15s. Clover hay, £5. Per Pair. —Poultry: 350 hens at 2s 2d to 5s Bd, 89 cockerels at 3s to 10s 4d, 100 ducks at 4s 4d to 7s 4d, 180 pullets at 4s lo 15s per pair. REILLY'S CENTRAL PRODUCE MART, LTD,, Moray place, Dunedin, C.l.

MINING NEWS BULOLO DREDGING, LTD. Bulolo Gold Dredging, Ltd., which operates in New Guinea, has declared an interim dividend (No. 10) for the year ending May 31 of 1 dollar 50 cents (Canadian) a share, payable from all offices on June 10, less Canadian absentee tax of 5 per cent. Books will close on May 19. This rate is unchanged compared with that of the previous distribution, made on December 10. Each dividend of 1 dollar 50 centres (approximately 7s 2d Australian) requires 1.500.000 dollars (£375.000, Australian). The two distributions in the preceding financial year were of 1 dollar 40 cents and 1 dollar 50 cents respectively. WORKSOP DREDGE RETURN A return of 290 z for 128 hours’ work is reported for the week ended May 12 by the Worksop Extended Gold Dredging Company. A total of 11.000 yards was treated. NEMONA WASH-UP The Nemona Gold Dredging Company reports a return of 540 z for the week ended April 13. The dredge worked 122 hours, treating 14.100 yards. PLACER DEVELOPMENT, LTD. Placer Development. Ltd., the parent company of Bulolo Dredging, has declared an interim half-yearly dividend for the year ending on April 30. 1939, of 60 cents (Canadian), less Canadian absentee tax of 5 per cent., payable on June 10, plus exchange as at May 31. Books close on May 19. The rate is unchanged. The distribution equals approximately 2s lOd a share (Australian) and requires 350.000 dollars i £87,500. Australian). ARGO DREDGE RETURN The Argo return last week was lOOoz for 130 hours’ work, during which 14.000 yards were treated. GILLESPIE'S BEACH RETURN The secretaries of Gillespie's Beach Gold Mining Company, Ltd., report -a return of 51oz 16dwt for 192 hours dredging on a face of 22,334 yards. The dredge is at present working the full face. WAITAHU RETURN The Waitahu Gold Mining Company, Ltd., reports a further partial wash-up from No. 16 paddock of 470 z for 27 shifts of eight hours each. This makes a total of 1360 z 12dwt so far from ihis paddock. NEW RIVER DREDGE RETURN The following is the official return of gold won by the New River Gold Dredging Company’s dredge during the week ended May 12;—Twenty-eignt oz of gold from 11.000 yards treated in 121 hours’ dredging time. GOLDFIELDS DREDGING RETURN (Per United Pkess association) TIMARU, May 15. The Goldfields Dredging Company advises a return of 14oz 14dwt for 92 hours’ dredging. WHITE’S ELECTRIC DREDGE The official return of gold won by White’s Electric Gold Dredging Company's dredge at Barrytown during the week ended May 12 was 330 z of gold in 127 hours’ dredging time SYDNEY STOCK EXCHANGE i (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, May 14. Following were sales on Exchange

SHARE QUOTATIONS (United Press Association) (By Electric Telegraph—Copyright) LONDON, May 13. Share Quotations.—Clutha River— Buyers Is 7Jd, sellers Is 10id; Molyneux River—Buyers Is. sellers Is 3d. FRENCH DEFENCE LOAN (United Press Association) (By Electric Telegraph—Copyright) PARIS, May 13. The first instalment of the defence loan of £28,000,000 is being issued at £9B, at 5 per cent. The term is 30 years, and carries a capital guarantee LONDON COUNTY COUNCIL LOAN (United Press Association) (By Electric Telegraph—Copyright) LONDON. May 10. The underwriters were left with 95i per cent, of the London County Council loan, which opened at 1 per cent, discount. LONDON MARKETS (United Press- Association) •Bv Electric Telegraph Copyright i LONDON. May 14. (Received May 15, at 5.5 p.m.) Friday’s closing prices were as follow: Cotton: Spot, 4.77 d per lb; June, 4.69 d. Rubber: Para, sgd: plantation smoked, 52. Jute: May-June, £l7 12s 6d; South Sea, £lO 15s; plantation. Rabaul, £ll 15s. Linseed oil, £26 ss. Turpentine, 31s . 9d. Liverpool futures: May. 6s 7Jd per bushel; July, 6s 6id; October, 6s 4£d. Apples are firmer. New Zealand, ex Port Melbourne. Dunedin Star and Port Alma—Coxes 9s 6d to 11s 6d, Jonathans 8s 5d to 10s 3d; Tasmanian— Coxes 8s 3d to 12s 6d, Jonathans 8s 6d to 9s 3d.

SATURDAY’S BUSINESS Sales on ’Change £ s. d. 6. J. Coles .. .. 4 3 6 Taranaki Oil ... •• T ’• Sales Reported British: Tobacco (late Friday) 2 8 6, Southland Frozen Meat ... 1 8 6 Taranaki Oilfields 0 7 Sales Reported After Last Call National Bank of N.Z. .. 2 13 0. 4 p.C. Stock, 1943-16 0 0 LATEST QUOTATIONS The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage. government loans Buyer. Seller. £ S. d. £ s. d. 8J p.c. Stock, Nov.. 1938-52 103 10 0 — 2i p.c. Stock, May, 1939-52 102 10 0 — 3i p.c. Stock, May, 1941-52 102 10 0 — 3i p.c. Stock, Nov., 1941-52 102 10 0 —* 8 p.c. Bonds, I939-4J: .. 97 0 0 — 3 p.c. Stock, 1939-41. . . 97 0 0 — 4 p.c. Bonds, 1943-46 .. 102 5 0 — 4 p.c. Stock, 1943-4(1 .. 102 5 0 — 4 p.c. Bonds, 1946-4!)... 102 10 0 — 4 p.c. Stock, 1946-49 .. 102 10 0 — 4 p.c. Bonds, 1952-55 .. 104 5 0 —■’ 4 p.c. Stock, 1952-55 .. 104 5 0 3i p.c. Bonds, 1953-57 98 0 0 p.c. Stock, 1953-57 98 0 0 . ., MINING Big River, llsfo 0 1;, ;P 0 1 3 , Clutha River . (2s) L ..: ; 0 -2. ■7 0 2 9; Gillespie’s- Beach 'iIs) Q 0 .9 0 0 11 Goldfields Dredging 1 (Is) 0 0 li — Grey River ...... 0 ,12 6 Martha (5s) . .'-s’. I* -r* U 13 3 Molyneux River (2s).; 01 6 Nokomai (5s);'"'.. .>■ 0 1 6 0 2 0 Paddy’s Point ,(5s) i.. — 0 i 0 Sandhills (Is) .. 0 0 U 0 0 3 Waipapa Beach (Is.) .. — 0 0 1 Waitahu (5s) .. .. — 0 0 10 BANKING N.S.W. (£20) ., .. — 32 10 0 N.Z, (£1) 2 4 0 — N.Z. (long D; £1) .. — 1 10 0 Commercial (10s) — 0 16 5 Comm, (pref.; £10) .. — 9 0 0 Comm, of Sydney (£12 10s) 20 5 0 — E.S. and A. (£3)' .. 4 15 0 5 0 0 Natl, of N.Z. (£2 10s) 2 12 9 2 13 6 . INSURANCE National (7s) v. < 0 17 8 0 17 11 South British (10s) .. 2 6 0 — Standard (£1) •• • • — 2 18 6 SHIPPING Howard Smith (£1) — 1 2 0 Huddart, Parker (ord.; £1) .. ••• 2 4 3 — Huddart, Parker (pref.; £1) .. .. .. •• 1 8 0 — P. and O. Def. Stock (£1) .. ...... 1 6 6 — U.S.S. Co, (pref,; £1) 1 7 3 — . MEAT PRESERVING N.Z. Refrig, (pd.; £1) 0 18 9 — South. Frozen Meat (paid; £1) •• 1 8 0 1 ;9 0 South Otago Freezing (£5) .. 5 V 0 — WOOLLEN COMPANIES Bruce (ord.; £1),. .. 0 5 0 -- Wellington, (ord.; £5) 5 3 0

LOAN AND AGENCY Goldsbi'ough, Mort (£1) 1 10 3 — National Mortgage (B issue: £1) 1 12 0 — N.Z. Loan and M. (orcl.; £ 100) 35 10 0 1 N.Z. Guarantee Corp. (3s) 0 4 4 — Trustees, ■' Executors (£2) .. .. ... 3 15 0 —* Wright, Stephenson (pref.; £1) 1 1 0 — COAL Kaitangata (16s) *•1 7 0 I 9 0 Westport (10s) 1 4 0 Westport - Stockton (orcl.; 10s) .. .. 0 2 9 — Westport - Stockton (pref.; 10s) .. .. 0 5 8 — MISCELLANEOUS Anthony Hordern (£1) 0 18 0 0 18 9 Aust: F. Trust .. .. 0 4 6 ■ 0 4 1! Australian Glass (£1) — 4 14 6 Broken Hill Pty. (£1) 3 1 0 3 2 3 Broken Hill Pty. (cont.; 10s) ' .. .. 1 16 9 — Biown, Ewing (pref.; £1) 1 0 9 — Colonial Sugar (£20) 48 10 0 50 0 0 D.I.C. (ord.; 10s) — 0 14 9 D.I.C. (pref.; £1) .. 1 3 3 — Dominion Fertiliser (£1) 1 5 0 — Donaghy's Rope (£1) 2 5 0 2 7 0 Dunedin - Kaikorai Trams (£ 1) .. .. I •5 0 — Stock Exchange Pty. (£1) ■ .. .. 2 2 0 Felt and Textiles ... 1 12 0 1 — G, J. Coles (£1) .. 4 3 3 4 4 3 Milburn Lime (£1) .. — 1 10 0 Mort's Dock (£1) — 0 11 0 McKenzies Stores (£1) — 3 9 6 N.Z. Drug Co. (£2) .. 3 7 3 — N.Z. Paper Mills (£1) — 1 5 0 N.Z. Paper Mills (rights) .. — 0 1 0 Otago Daily Times (£1) .. .. .. .. — 2 7 6 Regent Theatre (£1) 0 19 6 1 2 6 Smith and Smith (pref.; £1) .. .. 1 0 0 — Taranaki Oil (£1 4s 7d) 0 7 4 0 7 5 Woolworths (ord.; £1) 1 1 0 1 2 0 Woolworths (Sydney; ord.; 5s) 1 2 1 1 2 5 Woolworths (South Africa: 5s) .. .. 0 16 2 0 17 0 BREWERIES N.Z. Breweries (£1) 2 4 6 2 5 6 Dominion (£1) .. .. — 1 17 9 AUSTRALIAN MINING Broken Hill South (5s) 1 10 0 — Electro. Zinc (pref.; £1) — 2 7 3 Electro. Zinc, (ord.: £1) .. ... .. .. — 2 2 3 Mount Lyell (£1) 1 6 0 — Mount Morgan (2s Gd) 0 9 0 North Broken Hill (5s) — 2 3 9 Placer Developments 3 12 0 —

9d per share, in Melbourne June 15 Wilsons Cement, Ltd.—Final, per share (making 9d for the year) June 15 Mount Lyoli—Interim. 6d per share June 20

£ d. 4 p.c. Bonds, 1952-55 .. . Amalgamated Brick (Auck.) 104 12 6 6 p.c., 1944 9o 0 0 National Insurance .. .. 0 17 10 Huddarl. Parker (ord.) 2 5 3 Tooth's Breweries .. .. 2 17 3 Dunlop Perdriau I 2 0 Mount Morgan 0 8 8 Woolworths Holdings (S.A.) 0 16 2

Goldsbrough, Mort (late Fri.) 1 10 10i (late Fri.) 1 11 0 N.Z. Shipping Co. (prof.; late Fri.) .. 11 5 0 Broken Hill Pty. (late Fri.) 3 1 1 6 Woolworths < N.Z.; late Fri.) 1 8 Broken Hill Proprietary .. 3 1 9 McKenzies (2) 3 8 0 Woolworths (rights; 2) 0 3 8 (rights: 4) 0 3 9 Woolworths (South Africa) 0 16 1

Broken Hill Pty. (cont.; C.D.) 1 17 0 G. J. Coles 4 3 9 Taranaki Oilfields .. ■ 0 7 5 Woolworths Properties ' ■ (rights; 4) ■ • u 3 0 (rights; 2) 0 3 9 (rights) 0 3 10

Woolworth.s (South Africa) 0 16 2 Mount Lycll .. 1 6 1 (2) 1 6 0 Mount Morgan (3) 0 8 7 Sales Reported Southland Meat 1 8 7 Broken Hill Pty 3 2 0

shown): — M 1ft cd CM c? c. v./,. Sheep— P. Per id < Crossbred wethers and/ ) or maiden ewes - d d a 5 A S’ 53 49-5GID 51 54 54 57-6411) b 5 'O 65-72ID 4,1 43 “•A Ewes: Under 481b .. .. .. .. 4 4 - 49-581 b 34 34 57-84lb 3.1 34 33 G5-721b 34 35 34 N.Z. Lambs— Camei bury Under 3Glb 73 73 72 37-421 b 75 73 73 43-S01b 75 71 75 Second quality: 7i 75 75 Average about 311b .. South Island - 73 73 73 Under 361b 37 421b 73 n 73 43-501b 7.1 75 75 • island Downs: Under 361b 73 73 Tn 37-4211) 73 73 ‘3 43-5011) 73 7J . Secono quality: n Average about 301b •• 7a Morin island First quality V. Under 361b 73 37-421b 75 75 75 Seennd quality: 75 75 Average about 311b 73 VuslvHliaii lambsOlctonan. First quality 75 7 75 29-361 b 74 37-421b .. .. .■ 7 tri’initine Lambs— Firs’ quality: Under 361b 7 7 7 37-4211) 63 63 63 N.Z Frozen Beef— Ox hinds, 145-2101b , .. .. — — — Ox fores, 145-2101b .. .. — — u<s'Nii;ii Beef— Ox hinds, 145-2101ta .. .. — — — jv i on- e. eights corresponding — s./. Porker Pigs— First quality: 65 01-301b 7 7 31-lOrtlb 65 7 7 101-1201b C5 7 7 N.Z, Baconcr Pigs— 121-1601b 7 7 7 (Chilled oeel prices are approximate average prices realised for the week) s / Chilled MeetOx hinds. 145-2101b .. .. 43 — 43 Ox fores, 145-21011) .. .. 35 — 34 . ii-i iimo chilled Beef— Ox hinds, 145-21011) 45 45 43 Ox crops weights 35 33 corresponding 35 Union ol South Africa Chilled Beef— Ox hinds, 145-2101b .. .. , — 55 Ox fores. 145-2101b .. . • *— 33 Southern UioUesian Chilled Beef— Ox hinds, 145-2101b .. .. 45 45 45 Ox fores, 145-210!b 23 25 2a it- i imin'd Meet— Ox hinds, 145-210!b .. .. 53 6 6 Ox fores. 145-210!b .. .. 35 32 3.J i! rug naval' Chilled Beef— Ox hinds, 145-2101b . . .. 5 55 55 Ox fores, 145-2101b .. .. 35 33 34 1 1 w/,iban Chilled Beet— Ox hinds, 145-2101b .. 42 42 45

Paris — Par. JlfOBY, May. 12. May 13. May 13. Francs to £ I 121.21 177 13-154 177 11-10 Brussels — Helens to £ 1 30 20,10 29.34J Oslo — Kronor to £ 1 IS.ISO 19.00 10.90 Stockholm- - Kronor to £ 1 IS.130 10.10 19.404 Copenhagen— Kronor to £ 1 18.130 22.10 22.40 Berlin— Marks to £ 1 20.31 12.373 12.373 Montreal— Dollars to £ 1 l.Sti 2-3 3.005 3.00 11-10 Non York — Dollars to £ 1 4.80 2-3 4.07 7-10 4.073 Yokohama — Pcnoo to yen 31.332 1! 11 Hongkong— 1’cnro to dollar 2 1.3H 14 13-16 14 liomlmy— Pence to rupee — 17 29-32 17 20-32 Malaria— Florins to £ 1 12.10 S.97 S.07 Milan — 1,1 re to £ 1 82.40 94 9-10 01 9-10 A nisi or, lam - (Inllfler to £ 1 12.107 8.97* 8.974 Prague — Kroner to £ 1 101J 1123 1123 (iPIIOVU — Prunes to £ I 23.224 21.783 21.373 Vienna — .Schillings to £ 1 81.804 204 201 Helsingfors.Marks to £ 1 103.23 22 BA 2201 Madrid — Pesetas to £ 1 23.22 J Itelgrade— Dinars to £ 1 23.22.1 217 217 Alliens— Drachmas to £ 1 37.3 547J 3174 l.lshon— Ksendos to £ 1 1 10 102 3-10 110 3-10 Bucharest— I.ei to £ I 031.0 0734 0774 liio de Janeiro Pence to mllrels . . 5.SOU 2 13-10 a i3-io nnenos Aires — Pence to pesos ■17.22 IS.09 18.99 Shanghai— Pence to tael 12 12 Montevideo - Pence In pesos 20 204 Warsaw — Zlotys to £ 1 - 26.13 20.43

London— £ N.Z, to £101) slg. . . T.T. DM 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— £ P. to £100 N.Z T.T. 00/7/0 80 O.D. 00/7/0 80 New York — Dollars to £1 N.Z T.T. ■1.02)8 3.0870 O.D. 4.0818 3.0010 Montreal — Dollars to £ N.Z. T.T. 4.04S3 4.0158 O.D. 4.0003 4.0198 Austria— Schillings to £ N.Z T.T. O.D. — — Belgium— Belgas to £ N.Z. T.T. 23.081 23.611 O.D. 24.02G 23.052 Czechoslovakia — Krounas to £ N.Z. T.T. _ 113.01 O.D. — 113.00 Denmark — Kroner to £ N.Z. T.T. IS.203 17.803 O.D. 1S.203 17.890 Finland — Marks to £ N.Z. T.T. 184.93 179.15 O.D. 188.38 170.28 France — Francs to £ N.Z, T.T. . 141.01 O.D. —* 141.05 Germany— Reichsmarks to £ N.Z T.T. 0.808 O.D. — 0.873 Greece — Drachmae to £ N.Z. T.T. 420.54 O.D. — 439.84 Holland— Florins to £ N.Z. T.T. 7.310 7.109 O.D. 7.389 7.173 Italy— Lire to £ N.Z. T.T. 75.78 O.D. — 73.83 Java— Florins to £ N.Z. T.T. 7.298 7.145 O.D. 7.333 7.149 Norway— Kroner to £ N.Z. T.T. 10.182 15.802 O.D. 16.242 15.898 Noumea —• Francs to £ N.Z. T.T. 130.70 O.D. —■ 130.80 Papeete— Francs to £ N.Z. T.T. 130.81 O.D. — 130.85 Sweden — Kroner to £ N.Z T.T. 15.789 15.404 O.D. 13.849 15.500 Switzerland — Francs to £ N.Z. T.T. 17.083 17.413 O.D. 17.788 17.418 Chef no— N.Z. Fence to 1 Dollar .. T.T. O.D. — — Hongkong— N.Z. Pence to 1 Dollar .. .. T.T. 183 183 O.D, 18 11-32 183 India and Ccydon— N.Z. Pence to 1 Rupee .. .. T.T. 22 7-04 22 25-64 O.D. 22 5-01 22 25-04 Japan— N.Z. Pence to 1 Yen T.T. 175 O.D. — 174 Manila— N.Z. Pence to 1 Peso T.T. 20 35-0-1 30 3-64 O.D. 29 29-64 30 3-01 Shanghai— N.Z. Pence to 1 Dollar .. T.T. O.D. — — Singapore— N.Z. Pence to 1 Dollar .. .. T.T. MU 31 47-01 O.D. 34 8-32 31 47-04 All rates subject to alteration without notice.

notice: — U.S.A. Canada. (Per £1 (Per £1 N.Z.) N.Z.) Selling: T.T. Dols. .. 3.98? Dols. 4.01 9-16 O.D. .. 3.99 A 4.01 15-16 Buying: .. 4.03 1-16 4.06

Ton Copper, spot £38 II 10 Vr Fall £0 3 n Copper, forward 38 15 9','j Fall 0 3 9 Electrolytic, spot -12 10 0 Fall 0 5 0 Electrolytic, forward.. 43 10 0 Fall 0 5 0 Wiro bars 43 10 0 Fall 0 5 0 Lead, spot -14 6 lOVa Fall 0 3 » Lead, forward .. .. 14 tl 10'/, Fall 0 2 6 Spelter, spot .. .. 1218 IV, Fall 0 1 3 Spelter, forward 13 1 10 Vs Fall 0 1 3 Tin, spot 168 7 6 Fall 1 0 0 Tin, forward .. •• 160 1 3 Fall 0 II 3 Or. Silver, standard 18 16d No change Silver, fine .... 20 • I0d No change

(United Press Association) (By Electric Telegraph—Copyright) LONDON, May 13. £ s. d. May 13 6 19 11 May 12 6 19 10J May 11 6 19 11 May 10 .. .. .. 6 19 9i May 9 6 19 10 May 7 6 19 82 May 6 6 19 8 May 5 6 19 7

to-day:— Commonwealth Bonds— d. 9 4 per cent., 1938 .. 101 18 4 per cent., 1950 .. 103 0 0 Australian Gas (A) .. 7 8 6 Anthony Hordern ... 0 19 0 Burns Philp .. .. .. 2 15 0 Colonial Sugar .. .. .. 49 0 0 , Dunlop Perdriau .. .. .. 1 2 6 Farmers ,. .. .. .. .. 1 12 9 Mori’s Dock ' .. 0 10 1