COMMERCE AND FINANCE

Otago Daily Times, Issue 23578, 15 August 1938, Page 16

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE FURTHER EASING IN METAL SCRIP A further slight easing in the values for metal scrip, with a slackening of interest, was noticed on the Dunedin Stock Exchange on Saturday mqrnihg. when trading was confined to two transactions after the last call-over. Movements in most of the other sections were within narrow limits:. Commercial Banks (10s paid) were wanted "at last week’s selling price of 16s 9d, but holders would not reduce their limits of 17s sd. Bank of New Zealands remained unchanged. Paid New Zealand Refrigeratings stood out in the meat preserving section for an advance, but it was not sufficiently large to induce holders to make concessions. The contributings were firm with recent rates. Among Commonwealth industrials, which were poorly supported, Australian Foundation Trusts gained 2d,' while G. J. Coles were a shade easier. There was no zest in the demand for Dominion scrip. Taranaki Oils finished on a par with the closing levels of Friday. Mount Lyells sold at £1 Bs, but during the call over buyers refused to bid more than £1 7s 9d. Electrolytic Zincs and Mount Morgans both lost ground compared with the values ruling at the close of the previous day. SATURDAY’S BUSINESS Sales Reported After Last Call £ S. tJ. N.Z. Refrigerating (cont.) .. 08 B Mount Lyell (2) 18 0 LATEST QUOTATIONS The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage:—

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

The following is a list of shares on which dividends will shortly be payable:— N.Z Farmers Fertiliser—6

per cent, per annum .. To-day Mount Morgan—pref. halfyearly, 4 p.c. To-day Mossy Creek- -One penny per share (No. 12) To-day Woohvorths Ltd., Sydney—lst pref.. half-yearly at 10 per cent, per annum; 2nd pref., half-yearly at 7 per cent. per annum To-day Morts Dock, Sydney—s per cent, per annum, and bonus, U per cent. .. ... Aug. 17 Kandos Cement—Final halfyearly 5 per cent., and bonus, 24 per cent .. .. Aug. 18 Queensland National BankFinal 21 per cent half-year, making 4J oer cent, per annum .. ~ ~ .. .. Aug. 18 Regent Theatre—Final. 2J per cent at rate of 5 per cent. per annum .. Aug. 18 Kuala Lumpur Tin—ls per share .. ■ . • .. Aug. 19 Commercial Bank of Australasia. Ltd.—Half-yearly at rate of 4 per cent per annum on pr.et shares and at 74 per dent per annum bn ordinary shares (payable in Australian currency) Aug. 19 Okarito Dredging Coy.—4d . per share 8 2-3 per cent, ~ Au‘g. 20 Pitt, Son. and ' Badgery— Final half-yearly 5 per cent,, making 10 per cent. per annum Aug. 24 Bank of New South WalesQuarterly 6 oer cent. 6s per share ... Aug. 25 Associated Newspapers Ltd.Interim ord. and pref,. 2 per cent. ■ Aug. 30 Loloma Gold Mine—ls .. .. Aug. 31 Silverton Tramway Final, half-yearly, 10 per cent-, making 20 per cent, per annum Aug. 31 Carlton Brewery—Half-yearly, 7$ per cent. .. . * .. .. Aug. 31 Elder Smith, Adelaide —Final, 3J per cent, making 7 per cent, per annum .. .. Sept. 1 Waitahu Gold Mining Coy.— 2d per share (3 1-3 per cent.) .. .. .... .. Sept 9 Apex Investment. Masterton— Half-yearly at 5 per cent, per annum .. .. .. .. Sept 15 Broken Hill South —Quarterly, 6d oer share Sept. 15 Electrolytic Zinc Halfyearly. 9 per cent, or 15 per cent per annum on both ord. and pref, . Sept. 16 CALLS PAYABLE

The following is a list of shares on which calls will shortly be payable:— Mount Morgan—Pref.. 4s, making £ 1 paid ... .. .. To-day Amal Wireless (A'sia) —Con., Is a share, making 17s paid To-day Dunedin Brewery and Wilson Malt Extract Co,—Con.. 5s a share, making 5s paid Sept. 1 N.Z, Paper Mills-Con., 5s a share, making 15s paid Sept 30 Burns, Philp—New 5s a share. making 15s paid . Oct I Woolworths Properties Ltd.— 10s a share, making £1 paid Oct. 31 Broken Hill Pty.—Con., 5s a share, making 13s 4d paid Nov. 30 NORTHERN EXCHANGES AUCKLAND

WELLINGTON Sales on ’Change South British Insurance (late Fri.) 2 6 9 CHRISTCHURCH Sales on ’Change

MERCHANDISE MARKET Supplies of the new season’s shelled walnuts will in the ordinary course of events arrive from China at the end of December. ' •The Hauraki; due from Pacific Coast ports on August 30, will land prunes, seeded raisins, salmon and pilchards. Supplies of the latter commodity arc getting short in the local merchandise houses, and the market is firm. Greggs jelly crystals show a slight increase in price. . ~, Further supplies of Morton s and Maconochie’s herrings have just come to hand. Reports from England state that the herring market is very firm. Supplies of English ground almonds and Heinz’s English manufactured soups wil be landed ex the Ruahine. A small shipment of Australian caned apricots has reached the market. The Waimarino arrived at the weekend with a cargo of sugar. The Waiana, due on August 17, will land a further cargo. A parcel of Canadian iodised salt is on board the Canadian Constructor, due at the end of the week.

Morton’s capers show merchants a considerable additional cost. The City of Bagdad, now at the wharf in Dunedin,, will land a considerable quantity of American refined sugar. Two new lines to make an appearance on the market are St. George vegetable and meat soups. The quotations for the new season’s salmon show little change from those ruling last year.

REILLY’S CENTRAL PRODUCE MART, LIMITED. Moray place, Dunedin, C.l.

NEW SHARE ISSUE COX BROS. (AUSTRALIA), LTD. (Per United Press Association) WELLLINGTON, Aug. 13. The Stock Exchange has received cabled advice from Cox Bros. (Aust.), Ltd., announcing a new issue of ordinary shares at par to ordinary shareholders of one new share for every two held. This is the second new issue this year. 179,599 ordinary shares of 5s each at par being issued to holders of ordinary shares on March 1 in the proportion of one 5s share for every two held. The capital was required to finance expansion. The company's present capital is £425,189. PRICE OF PETROL REDUCTION OF ONE HALFPENNY (Per United Press Association) WELLINGTON, Aug. 13.

Announcing a further reduction in the price of petrol by a halfpenny a gallon as from Monday, the Minister of Industries and Commerce (Mr D. G Sullivan) stated that the Government has been in constant touch with the overseas prices of motor spirit and tanker freight rates. “ In May last I was able to announce a reduction of a halfpenny a gallon due to the easing in the tanker freight rates, and now I have been able to arrange for a further reduction of a halfpenny, due to the fact that the tanker freight rates have continued to fall,” said the Minister, “and in this I have had the co-operation of the oil companies. The reduction will automatically be effected in all those areas in respect of which the price-fixing regulations have been introduced. There are still a few areas that are the subject of investigation for price fixation, and I naturally expect the resellers in these areas to reduce the prices voluntarily forthwith on the same basis as those re-sellers operating in the controlled areas. The Government intends to watch the position closely and the public may rest assured that as soon as the occasion warrants it any future decreases in overseas prices will immediately be passed on to the consuming public.” PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright)

FRIDAY’S CLOSING PRICES (United Press Association) (By Electric Telegraph—Copyright) LONDON. Aug. 13. (Received Aug. 14, at 6.30 p.m.) Yesterday’s closing prices were:— Cotton—Spot, 4.78 d per lb; September,'4.47d. Rubber.—Para, 7Jd per lb; plantation smoked, 7-Jd. Jute.—August-September shipment, £l9- 12s 6d a ton.-Copra.—August-September shipment, South. Sea, £9 12s 6d a ton; smoked. £9 T2s 6d; plantation Rabaul, £lO 12s 6d. • , Linseed, oil, £24 5s a ton. Turpentine, 32s per cwt. QUOTATIONS FOR APPLES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Aug. 13. (Received Aug. 14, at 6.30 p.m.) Quotations for apples: New Zealand (ex Empire Star and New Zealand Star) Sturmers, 6s to 10s 3d. FRUIT AND PRODUCE WORLD Reilly’s report selling:— Per Dozen. —Lettuce; Choice, 2s to 4s. Carrots, Is. Parsnips, Is. Spinach, 2s 6d. Eggs, Is 4d to Is sd. Section honey, to 10s 6d; 21b pottles honey 17s 6d, 11b pottles 9s, Mutton birds, 9s 6d. Violets, 5s to 6s 6d. Narcissi: Sol de Or, 8s to 11s 6d; Cremes, 7s 6d to 11s 6d; Trumpets, 14s to 16s. Anemones, 10s to 12s. Each.—Champion egg crates, 24dozen, 18s. Per Case.—Californian lemons, 755. New Zealand lemons: Keribest, 12s to 14s; others, 6s to 10s. Oranges: Australian navels, 16s to 21s; Island oranges, 10s 6d to 15s 6d; Poorman oranges, 8s to 10s. Mandarines, 22s 6d. Queensland pineapples, 18s to 20s. Bananas: Ripe, 16s 6d. Apples; Jonathans, choice 6s to 8s; Delicious, 4s to 8s; Granny Smith, 6s to 7s; Cleopatras, 6s to 7s 6d; Sturmers, 4s 6d to 8s; Tasmas, 6s to 7s; cooking apples, 3s 6d to 6s; Winter Nelis, 10s to 14s; Buerre Bose, 9s; cooking pears, 6s 6d. Per Pound.—Rhubarb, 3d to 4d. Kumeras, 3d. Tea: Orange Pekoe, 2s lOd. Cheese, 9d. Butter: Storekeepers’, lOd. Bacon: Prime, Is 2d. Bacon and porker pigs, 6d to 74d: overweights, 4d. Bulk honey, 6d to 7d. Beeswax, Is 3d. Walnuts, 7d to Bd. Whitebait, 5s 6d. Per Sack.—Cauliflowers, 10s to 14s. Cabbage: Savoys, 8s to 12s. Per Cwt.—Marrows, 10s. Onions: Canterbury Turbitts, to 21s; Australians due August 15. Potatoes: Arran Chief, 4s to ss; King Edwards, 7s to Bs. Pumpkins, 9s, Olive oil, 18s. Lime sulphur, 3s 9d gallon. Restar: 4-gallons, 4s 6d. Semesan: 11b 12s 6d. Red Rose nicotine sulphate, 465; 21b 15s, lib 9s, 41b 5s 6d. Arsenate of lead paste, 9d to Is 3d; powder, Is to Is 6d. Red oil, 4s Bd. D.P. derris for white butterfly control: 11b tins 2s 3d.

Fowl wheat, to 6s 9d. Partridge peas, 6s 6d. Maize, 7s. Oats: Gartons, 3s to 4s per bushel. Crushed oats, 12s 6d. X Keys meatmeal, 15s bag. Bran, £5 ss. Pollard, £6 15s. Chaff: 8.0.5, £5 15s to £6 ss. Clover hay, £6 10s. Per Pair.—Poultry: 22 cockerels at 3s lOd to 10s, 50 hens at 5s 6d to 7s Bd, 43 pullets at 4s to 9s, 22 ducks at 6s 6d to 9s per pair.

FROZEN MEAT MARKET SMITHFIELD PRICES (Per United Press Association) WELLINGTON, Aug. 13. The New Zealand Pdeat Producers Board advises that the following are the ruling prices ol wholesale quantities of the descriptions of frozen meat mentioned and are foi representative narcels of the goods sold on Thursday, August 11. Chilled beef prices are averages of the week on which this list is issued. All prices are on the basis of delivered to Smithfield Market. Previous prices are also shown:—

Lamb Market—Although the demand has not been quite so good owing to hot weather, prices for primes are firm. Secondary lambs: Tendency is easier owing to over-supplies. Mutton Market.—Weathers and ewes: Tendency is easier owing to poor demand.

Beef Market.—Chilled beef: Easier this week owing to very hot weather. New Zealand Porker Pigs.—Market quiet and steady, excepting heavyweights, which are. a shade easier in sympathy with bacon pigs. New Zealand Baconer Pigs—Again easier owing to heavier arrivals and weaker bacon market. Boneless Bobby ' Veal.—Quotation nominal. BRITISH TREASURY BILLS 'British Official Wireless* (United Press Association) (By Electric Telegraph—Copyright) RUGBY, Aug. 12. The total amount applied for in tenders for £30,000,000 Treasury bills was £76,790,000. The average rate per cent, for bills at three months is 10s 1.50 d against 10s I.Bod. DOLLAR AND FRANC (United Press Association) (By Electric Telegraph— Copyright) LONDON, Aug. 13, (Received Aug. 14, at 6.30 p.m.) The dollar is quoted at 4.87}. The franc is quoted at 178?. SYDNEY STOCK EXCHANGE (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Aug. 13. (Received Aug. 14, at 6.30 p.m.) Sales on ’Change this morning:— £ s. d. Commercial Bank of Syd-

SHARE QUOTATIONS (United Press Association) (By Electric Telegraph—Copyright) LONDON, Aug. 12. Share Quotations.—Clutha River, buyers Is 9d, sellers Is 10£d; Molyneux, buyers 9d, sellers Is. New Guinea Gold shares are quoted at Is 2.1 d. LONDON PRODUCE MARKET The Bank of New Zealand has received the following advice from its London oflice as at close of business on Friday:— Weaker values are ruling for wethers, owing to lack of demand. There is only a poor demand for ewes. Demand for lambs is not so brisk. Seconds are more difficult to sell. Quotations—Wethers, light, 43d to 5d per lb, heavy 4d to 4Jd; ewes 2j;d to 3gd; lambs, twos 7Jd to 73d, eights 7Jd to 7gd, fours 7Jd to 7.',d, seconds 63d to 6Jd. KEYSTONE INVESTMENTS, LTD. The directors of Keystone Investments, Ltd., Wellington, which was incorporated in December, 1937, have declared an interim dividend at the rate of 4 per cent, per annum, payable on August 31. The dividend will be calculated on the amount paid up from time to time, from the dates of payment of calls to July 31, 1938. MEGGITT’S PROFITS Meggitt, Ltd., Sydney, discloses a net profit of £46,464 in its accounts for the year ended May 31, compared with £45,020 in the previous year. Dividends on preference and ordinary shares is maintained at 10 per cent,, requiring £36,736. Creditors have fallen £7233, and drafts for linseed shipments £79,068. Stock is £34,323 lower, and debtors £11,860 less. Cash items show a reduction of £33,245.

FOREIGN EXCHANGES (British Official Wireless) (United t’ress Association) (By Electric Telegraph -Copyright)

ON N£W ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin. onoted the following rates for purchases and sales of foreign exchange on Saturday:—

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 notice U.S.A. Canada (Per £1 (Per £1 N.Z.) N.Z.) Selling: Dols Dols T.T 3.90& 3.92 J O.D 3.902 3.92 J Buying: O.D 3.94$ 3.968 LONDON METAL MARKET « (United Press Association) (By Electric Telegraph—Copyright) LONDON, Aug. 12. The following are the official metal quotations:— Ton

OVERSEAS PRICES COMPARED WOOL FALLS BY 36 PER CENT. Prices of New Zealand products on overseas markets during the first six months of this year compared favourably with those of the same period of 1937. An important exception was wooi. The following table shows the variation in the declared values of the principal export products:— Rise or fall per cent. Butter +20.1 Cheese + 19.9 Frozen beef +20.9 Chilled beef +l+4 Frozen lamb ++l Wool (greasy) .. •• —36.1 The increases in butter and cheese and the decline in wool are most marked. Increases in the first half of 1937 were as follows:—Butter, 1.5 per cent.; cheese, 5.8 per cent.; frozen beef, 5.8 per cent.; chilled beef. 4.8 per cent.; frozen lamb, 4.3 per cent.; wool, 71.5 per cent.

GOVERNMENT LOANS Buyer. Seller. £ S. d. £ 8. d. 3J p.c. Stock. Nov., 1938-52 — 101 10 0 4 p.c. Bonds, 1943-46 .. 101 10 0 — 4 p.c. Stock, 1943-46 .. 101 10 '0 — Rural Bonds .. .. — 103 0 0 MINING Austral N.Z. Mining (£1) — 1 1 6 Big River (Is) .. .. 0 1 2 0 1 0 Clutha River (2s) 0 2 0 — Gillespie’s Beach (Is) 0 0 Hi — Goldfields Dredging (is) — 0 35 Mossy Creek (Is) 0 1 0 — Nokomai (5s) .. .. 0 1 4 — Sandhills (Is) .. .. 0 0 1 0 0 2 Waitahu (5s) .. .. 0 0 9 0 1 3 BANKING N.Z. (£1) 2 3 0 3 3 7 Commercial (10s) 0 16 9 0 17 5 Natl, of N.Z. (£2 10s) — 2 13 0 INSURANCE National (7s) .. .. — 0 17 7 Standard (£1) •• •• 2 16 0 2 17 3 SHIPPING Huddart, Parker (pref.; £1) 1 8 0 1 9 6 P. and O. Del. Stock (£1) 1 6 0 — U.S.S. Co. (pref.; £1) 1 6 0 1 6 9 MEAT PRESERVING N.Z. Befrlg. (paid; £D 0 18 4 0 19 0 N.Z. Ref rig. (cont.; 10s) 0 8 2 0 8 4 South. Froz. Meat (paid; £1) .. •• 1 9 10 — South Otago Freezing (£5) — 5 8 0 WOOLLEN COMPANIES Bruce (pref.; £1) .. — i 0 0 Kaiapoi (cont.; 7s) .. 0 3 6 ““* Mosglel (£4) .. .. — 10 0 0 Oamaru (£1) •• •• — 0 17 0 LOAN AND AGENCV Goldsbrough, Moft (£1) — 1 9 6 N.Z. Loan and M.; (ord. £100) .. — 35 0 0 Trustees. Executors (£3) .. .. ■. 4 5 0 — Wright, Stephenson (pref.; £1) — 1 0 6 COAL Kaltangata (16s) — 1 9 0 Westport (10s) .. , 1 4 9 1 5 3 Westport - Stockton (ord,; 10s) ... ., ■ 0 5 0 MISCELLANEOUS 1 ' Associated News (£1) 1 2 3 _ Australian Foundation Trust 0 5 2 0 5 6 British Tobacco (£1) 2 8 6 — Broken Hill Pty. (£1) — 3 0 3 Broken Hill Pty. (cont.; 10s) .. .. 2 1 6 Brown. Ewing (ord.; £1) — I 0 u Consolidated Brick (£1) 0 7 0 — Cox Brps 0 17 6 — D.I.C. (pref.; £1) .. 1 3 0 1 3 9 Donaghy’s Rope (£1) — 2 4 0 G. J. Coles (£1) 4 0 0 4 1 0 Hay’s, Ltd 0 16 9 — MacDuffs (ord.) — 0 16 0 Moturoa Oil (5s) — 0 5 9 Natnl. Electric (£1) 0 13 6 —

Farmers’ Fertiliser (£1) 0 19 6 — N.Z Paper Mills (£1) 1 2 6 — Otago Daily Times (£1) — *•2 6 0 Taranaki Oil (£1 4s 7d) 0 12 9 0 13 3 Wilsons Cement UOs) — 0 18 0 Imperial Chemical Ind. (£1) — 1 2 2 Woolworths lord.; 5s) — 1 0 9 Woolworths (Syd.; ord.; 5s) Woolworths (S. Africa: — 1 1 10 5s) — BREWERIES 0 15 10 N.Z. Breweries (£1) 2 2 6 2 2 9 Tooth’s (£1) .. .. AUSTRALIAN MINING 2 16 0 Broken Hill South (5s) — 1 12 0 Electro Zinc (prd.: £1) 2 2 0 2 3 6 Mount Lyell (£1) . . 1 7 9 1 8 6 Mount Morgan (2s 6d) Mount Morgan (pref.; 0 TO 0 0 10 6 £1) 1 1 6 1 2 6 North Broken Hill (5s) -, ' **Ex dividend. 2 7 0

Buyer Sellei £ s. d £ s d National Tobacco (orcl.; £1) .. — 2 2 0 Woolworths Properties (10s) — 0 14 2 A. and T. Burt (pref.; £1) — 0 13 0 Christchurch Press .. — 10 0 0 DIVIDENDS PAYABLE

Sales on ’Change Stock, 1938-52, 3J p.c. 101 0 0 South British 2 6 n Farmers' Trading .. .. 0 19 9 Mount Morgan 0 10 6

Dalgety 8 1 6 Dunlop Perdriau 1 1 9 Electrolytic Zinc (ord.; cum div.) • • ■ • 2 2 11 Broken Hill South (cum div.; 3) 1 10 6 Mount Lyoll 1 8 0

August 13 LONDON, Aug. 13. £ s. d. 7 2 9 August 12 , 7 2 8 August 11 7 2 4} August 10 7 2 6 August 9 7 2 7J August 8 7 2 3August 6 7 2 n August 4 August 3 7 18 August 2 7 1 6J July 30 7 16

rH 8 SO so £ N.Z. Sheep— 3 < 2 <3 B Crossbred wethers and/ (Per lb.) or maiden ewes: d d d Under 481b 5 52 52 49-56Ib 4 1 42 5 57-641b 4g 43 42 65-72Ib 4i 41 41 Ewes: Under 4Slb 3! 32 32 49-5Glb : 3f 32 57-641b 3,1 32 33 G5-72ib 3 3 3 N.Z. Lambs Canterbury: Under 361b 7) 71 n 37-421b 71 71 43-50Ib 72 72 72 Second quality: Average about 311b .. .. 63 62 62 bh'M Smith Island: Under 3Glb 71 71 71 37-421b 7g 71 71 43-501b .. .. 73 73 78 North Island Downs: Under 3Glb 73 73 73 37-421b 73 71 7? 43-501b 72 73 78 Secona quality: Average about 311b .. .. 73 72 72 North Island: First quality Under 361b 37-4210 73 7g 7g 71 73 78 Second quality: Average about 311b .. 61 61 62 Australian Lambs— Victorian , First quality; 29-361b — 72 72 37-421b — 72 72 Argentine Lambs— First quality: Under 361b 7 7 7 37-42Ib 61 6i 61 N.Z. Frozen Beef— Ox hinds, 145-210lb .. .. — Ox fores, 145-2101b .. .. — — — Australian Frozen Beef— Ox hinds, 145-2101b .. .. — Ox crops, wgts. correspending — — — N.Z. Porker Pigs— First quality; 61-801b eg eg 6g 81-1001b 63 61 6g I01-1201b .. 62 62 62 N.Z. Baconer Pigs— 121-1601b 62 62 7 Boneless Bobby Veal— (Old season’s, ex store, in parcels 43 4 4 (Chilled beet prices are approximate average prices realised for the week) N.Z. Chilled BeefOx hinds, 145-2101b .. .. 42 52 52 Ox fores. 145-2I01b .. .. 22 22 22 Australian Chilled Beef— Ox hinds, 145-2101b .. .. 41 43 -43 Ox crops, weight corresponding 23 2g 28 Union of South Africa Chilled Beef— Ox hinds, 145-210Ib .. .. 42 52 51 Ox fores, 145-2101b .. .. 22 22 3 Southern Rhodesian Chilled Beef— Ox hinds, 145-210Ib .. .. 4g 4g 42 Ox fores, 145-2101b .. 22 21 28 Argentine Chilled Beef— Ox hinds, 145-2101b ... .. 62 6g 68 Ox lores, 145-2101b .. 32 38 38 Uruguayan Chilled Beef— Ox hinds. 145-2101b .. . 52 31 51 Ox fores, 145-2101b A .. 3 32 3 Brazilian Chilled Beef— Ox hinds, 145-210ib .. .. 5 52 58

ney 20 19 0 Tooheys 1 11 9 Austral Gas A 7 8 0 Austral Gas B 7 8 0 Associated News 1 2 6 British Tobacco . 2 10 3 Burns Philp .. . 2 11 6 Cash Orders Amalgamated 0 16 9 G. J. Coles .. . 4 0 0

RUGBY. Auk. 12. I’aris— Par. Aug. 11. Aug. 12. Franca to £1 Brussels— 124.21 178 59-04 173 57-64 Belgas to £1 Oslo— 30 26.921 28.96 Kroner to £ 1 Stockholm— 18.180 19.90 19.00 Kroner to £1 t’openhagen— 18.130 19.391 19.391 Kroner to £1 Berlin18.150 22.40 22.40 Marks to £1 Montreal20.34 12.171 12.15 Dollars to £1 New York— 4.86 2-3 4.89 11-18 4.89} Dollars to £1 Yokohama— 4.86 2-8 4.87 11-16 4.87J Pence to yen H ongkong— 34.582 14 14 Pence to dollar Bombay— 24.58 15 15 Pence to rupee Batavia- — 17 15-16 15 15-16 Florins to £1 Milan12.10 8.931 8.921 Lire to £1 Amsterdam— 82.40 82 11-16 92 9-16 Guilder to £1 Prague— 12.10? 8.95 8.93! Kroner to £1 Geneva — 104 A 1411 141} Francs to £1 Vienna*— Schillings to 25.224 21.291 21.281 £1 Helsingfors— 84.861 261 261 Marks to £ 1 Madrid193.23 226! 2263 Pesetas to £1 Belgrade— 25.221 — — Dinars to £1 Athens— Drachmas to 25.221 217 216 £1 Lisbon - Escudos to 375 547} 547} £1 Bucharest— 110 110 3-16 110 8-16 Lei to £ 1 Rio de Janeiro— Pence to 931.6 660 660 milrels .. Buenos Aires— 5.800 2? n Pence to pesos Shanghai*— 47.22 18.82} 18.87} Pence to tac) Montevideo— - 8 e Pence to pesos Warsaw— — 20} 201 Zlotys to £1 ~ 26.12 • Nominal. 26.23

London— Buyini! Selllni! £1 N.Z. to £I0U StB T.T 124 124/10/ Australia— O.D 123/11/3 124/0/6 £ A to £100 N.Z T.T 100/17/b 100/5/Fljl- £ P. to £100 N.Z O.D 100/17/6 100/5/T.T 90/7/8 69 O.D. 90/7/6 S9 New York— Dollars to £ N.Z T.T 3.9399 3.9056 O.D 3.9449 3.9096 Montreal— Dollars to £ N.Z T.T 3.9571 3.9246 O.D 3.9058 3.9280 BelRlum— Belcas to £ N.Z T.T 23.476 23.166 0.0. 23.551 23.177 Czechoslovakia— Korunas to £ N.Z T.T — 112.68 O.D. — 112.71 Denmark— Kroner to £ N.Z. T.T. 18.203 17.893 O.D 18.263 17.899 Finland— Marks to £ N.Z T.T 185.34 179.54 O.D 185.74 179.64 PranceFrancs to fi N.Z T.T 145.24 142.74 O.D — 142.78 Germany— Reichsmarks to £ N.Z .. .. T.T. — 9.09* O.D. — 9.702 Greece— Drachmae to £ N.Z T.T. — 429.54 O.D. - 429.84 Holland— T.T. Florins to £ N.Z. 1.288 7.138 op. 7.328 7.142 Italy— — 74.24 Tiire to £ N Z. T.T. O.D. — 74,27 Java— Florins to £ N.Z. T.T. 7.267- 7.117 O.D. 7.307 > 7.12’ Norway— o 16.182 15 802 Kroner to £ N.2. T.T. O.D. 16.242 15.898 Noumea— Francs to £ N.Z. T.T 147.74 140.99 O.D. — 141.03 Papeete— Francs to fi N.Z. T.T 147.14 141.14 O.D. — 141.18 Sweden— Kroner to fi N.Z. T.T. 15.786 15.491 O.D. 15.846 15.497 Switzerland— 17.281 17.011 Francs to S N.Z. T.T. O.D 17.386 17.016 Chefoo— N.Z. pence to 1 dollar .. .. T.T. — -*• O.D. — ’ - — UonRkonB— 1 , [ N.Z. pence to 1 18 13-82 18 25-32 dollar .. .. T.T. O.D. 188 4,8 25-32 India and Ceylon— r ' N.Z. pence to 1 22J 22 13-32 rupee .. .. T.T. O.D. 22 3-32 22 13-32 Japan — N.Z. pence to 1 yen .. •• T.T. - IT 33-64 O.D. - 17 38-64 Manila— N.Z. pence to 1 peso .. .. T.T. 29 59-64 80 27-64 O.D. 29 53-64 30 27-64 Shanchal— N.Z. pence to 1 dollar .. . • T.T. O.D. — — Singapore— N.Z. pence to 1 dollar .. .. T.T. 34 17-32 35 1-61 O.D 84 7-16 83 1-64 All rates subject to alteration without notice

£ s. d. Copper, spot .. 40 10 0 Fall 0 13 9 Copper, forward 40 15 75 Fall 0 13 9 Electrolytic, spot 45 5 0 Fall 1 10 0 Electrolytic, ward .. .. 48 5 0 Fall 1 0 0 Wire bars .. 46 5 0 Fall 1 0 0 Lead, spot 14 3 15 Fall o 2 15 Lead, forward . 14 5 7i Fall 0 5 0 Spelter, spot .. Spelter, forward Tin, spot .. • • 13 12 6 Fall 0 13 16 105 Fall 0 193 17 0 Fall 0 4 5 •5 45 0 0 Tin. forward .. 104 07. 17 6 Fall 0 S 0 Silver, standard 19id Rise l-16d Silver, fme 21 l-16d Rise l-16d