COMMERCE AND FINANCE

Otago Daily Times, Issue 24254, 23 March 1940, Page 8

COMMERCE AND FINANCE

SHARE MARKET REVIEW BUSINESS OF THE WEEK LEVELS CONTINUE STEADY The Dunedin Stock Exchange closed down for the Easter vacation after the morning call-over on Thursday and will reopen again on April 1. , Levels throughout the past week were steady, the inquiry for all sound lines being well maintained, though the list of business recorded was not a large one. The ever-present demand for local body loans resulted in a sale of Otago Harbour Board 41 per cent, debentures maturing on April 1, 1950. at the figure of £lO5. All Government loans, but more particularly the long-dated, four per cent, issues, were in strong demand throughout, sales being effected in the 1943-46 stock at £lO2 2s 6d. Up to £lO3 5s was offered for several issues, but sellers were seldom in evidence. Banking shares lost no ground. New Zealands were turned over at £2 Is 9d, and Commercials at 16s 7d, while Nationals were on offer throughout at £2 6s, and up to £8 3s was offered for Unions. Insurances and shipping were not active, though quotations were freely put forward.

Meat preserving shares were more keenlv sought, and Gears were sold at 14s 4d, while contributing New Zealand Refrigeratings made 9s Id. These and Canterbury preference snares, as well as both issues of Southlands and South Otagos, had a steady inquiry. Loan and agency shares were again fairly well supported,, though no business resulted, and gas, coal and oil and woollens were all in general demand. There was a close market for Auckland Gas shares and Kaitangata and Westport coals remained unchanged. Taranaki oils had a number of sales at 7s 6d, and Taranaki Oil Developments improved to sell at 3s 6d. Timaru Woollens gained some ground with sales at 9s 3d and 9s 4d. All sound industrials were wanted. Broken Hill Proprietaries showed only a small easing with a sale at £2 lis 6d, and McDuffs were sold at 8s 6d, 8s sd, and 8s 4d. Sellers were firm at 8s 9d at the close of the market. A parcel of Farmers' Fertilisers realised £1 Is 9d and ordinary Woolworths were stronger with a sale at 17s 2d. New Zealand Breweries were turned/over at £1 16s 6d, but there was a slight recovery later and further business took place at £1 16s 9d. Mining shares were not active. The only business done was a sale of Mount Morgans at lis Id.

SALES OF THE WEEK. The following is a list of the sales recorded on the Dunedin Stock Exchange dufing the past week:— £ s. d. 41 p.C. 0.H.8. Debs., 1/5/50 ..105 0 0 4 p.c. Stock, 1943-46 (2) .. .. 102 2 6 Bank of New Zealand .... 2 19 Commercial Bank 0 16 7 Gear Meat 0 14 4 N.Z. Refrigerating (cont.) .. 0 9 1 Taranaki Oil (3) 0 7 6 Taranaki Oil Developments .. 0 3 6 Timaru Woollen .. .... ..093 0 9 4 Broken Hill Proprietary .. .. 211 6 McDuffs (ord.) 08 6 0 8 5 0 8 4 Farmers' Fertiliser 1 1 8 Woolworths (N.Z.; ord.) .. .. 017 2 N.Z. Breweries (2) ...... 116 6 Mount Morgan (2) 011 1 M.K. Millinery 0 5 3J THURSDAY'S SALES DUNEDTN Sales on 'Change £ s. d. Taranaki Oil Developments .. 0 3 6 Sales Reported Timaru Woollen 0 9 3 0 9 4 Mount Morgan 0 11 1 Sales Reported After Last Call N.Z. Insurance 3 3 0 Colonial Sugar 56 7 6 Ballin's Brewery 0 13 0 Unlisted Stocks M.Kj Millinery 0 5 3i AUCKLAND Sales on 'Change Stock, 1948 (4) 103 7 6 Waitemata County, 1954, A\ p.c. 105 0 0 Bank of New Zealand .. .. 2 16Farmers* Trading 10 0 M.K. Manufacturers (late sale; 2) 0 5 3 Woolworths (N.Z.; late sale) .. 017 6 Woolworths (Sydney; late sale) 14 0 WELLINGTON Sales on 'Change " 4 p.c. Stock. 1952 (late Wednesday) , •• 103 10 0 Tarangamutu Timber (late Wednesday) 0 14 0 4 p.c. Stock. 1943 101 5 0 General Motors Holdens (pref.) 1 4 0 Taranaki Oil 0 7 6 Mac Duffs (ord.) 08 6 CHRISTCHURCH ; Sales on 'Change Grey River (ex div.) 0 18 0 Sales Reported United Buildings (cum div.) .. 10 9 N.Z. Farmers' Co-op. (4J p.c. Stock, 1950) 88 0 0 Waihi Investments (late sale).. 0 7 1 Broken Hill South (late sale) .. 1110 Gillespie's Beach (odd lot) .. 0 0 4

DIVIDENDS AND CALLS The following is a list of shares on which dividends will shortly be payable:— •Bond's Hosiery—lo p.c Mar. 29 North Broken Hill—6d per share Mar. 29 Bank of Australasia—final, 8 p.c., 4s 6d per share Mar. 29 Cox Bros.—ls p.c, 4£d per sriare Mar. 30 Dunlop Rubber—interim, 7 p.c. 8 2-5 d per share Mal • «° British Tobacco—interim. 8 p.c, 4 4-5 d per share Mar 30 Hume Pipe (Australia), Ltd.—interim pref., 32 p.c: ord., 3 p.c. Mar. JO Morris Hedstrom—final, halfyearly, pref., 3 p.c (Fijian currency) ■■ iviar. ou Beath and Co.—lnt., ord. pref., 2J p.c • A » l l Felt and Textiles—int., pref., 3 p.c; ord., 5 p.c Apl. l Milne and Choyce—int., pref., 3 p.c; B, pref., 3| p.c; ord and deb., 3 p.c Apl. 1 Wholesalers, Ltd.—final, 6 p.c .. Apl. 1 Kanieri—second, Is .. .. •• Apl. i Howard Smith—final, ord.. 3 p.c. Apl. 3 Yarra Falls—int., Is .. .. • • Apl. 4 Woolworths (N.Z.)—int., pref.. 4£ pc Apl. 15 •Woolworths (Sydney)—final, 11J pc Apl. 15 Woolworths (W.A.)—final. 121 p.c, bonus 25 p.c •• Apl. is Woolworths .(Vic)—pref.. halfyearly. 31 p.c ■ •• A P'- 1D Mount Morgan—6d., a share (Australian currency) .. •• way 10 Call A.C.1., new, 5s a share .. .. Mar. 31 • Quoted ex dividend on Stock Exchange.

MINING NEWS argo dredge (Peb United Press association) GREYMOUTH, Mar. 21, The Argo dredge return this week was 59 ounces for 227 hours, 20,000 yards being treated. ALEXANDER MINES, LTD. The report for the week ended Marcli 15 of Alexander Mines, Ltd., states:— Stoping has been in progress on the same faces as the previous week. There is no change to report. During the week CO tons of ore were sent to the battery. Owing to an acute shortage of labour, operations in the mine have been considerably hampered. WAITAHU RETURN The Waitahu Gold Mining Company, Ltd., reports the completion of ground sluicing operations in No. 21 paddock, the gold won from stripping being 14oz Bdwt. Elevating operations on the paddock were commenced on Thursday.

LOCAL AND OVERSEAS MARKETS

LATEST QUOTATIONS MARKETS CLOSE FIRM The following are Thursday afternoon's buying and selling quotations on the Dunedin Stock Exchange, which are subject to the usual brokerage:— N.Z. GOVERNMENT LOANS Buyer. Seller. £ s. d. £ s. d. 3£ p.c. Bonds, 1953-57 .. 96 0 0 3i p.c. Stock, 1953-57 .. 96 0 0 4 p.c. Stock, 1940-43 . 100 0 0 4 p.c. Bonds, 1943-46 .. 102 0 0 4 p.c. Stock, 1943-46 .. 102 0 0 4 p.c. Bonds, 1946-49 .. 103 5 0 4 p.c. Stock, 1946-49 .. 103 5 0 4 p.c. Stock, 1949-52 .. 103 0 0 - 4 p.c. Bonds, 1952-55 .. 103 0 0 4 p.c. Stock, 1952-55 .. 103 0 0 4 d.c. Bonds, Nov., 1948 103 0 0 4 p.c. Stock, Nov., 1948 103 0 0 4 p.c. Bonds, 1954-58 .. 103 0 0 4 p.c. Stock, 1954-58 .. 103 0 0

* Ex dividend. UNLISTED STOCKS All stocks in this section are not quoted on the official list, and transactions are subject to a different rate of brokerage:— Buyer. Seller. £ s. d. £ s. d.

GRAIN AND PRODUCE GOOD QUALITY WHEAT FIRMER MARKET FOR OATS Most of the Canterbury crops of wheat have already been delivered to miller'-, and further south growers are either busy threshing or delivering their wheat. The quality of the wheat is bet,ter than was anticipated, in view of the wet weather experienced early in the season, and the bulk of the Otago and Southland wheat should be saleable for milling purposes. The yields are quite satisfactory in the Otago coastal districts, but dry weather affected the growth in Central Otago. and the returns there are below the average. For the month of March the advanced price to farmers is on a basis of 5s 6d per bushel for Tuscan, f.0.b.. sacks extra, grower's nearest port. The fowl wheat market is quiet. The distributing trade is not up to the usual standard, and most merchants are still carrying stocks of last season's wheat. The North Island continues to secure its reouirements from Australia, and the fowl wheat available here will have to be absorbed by the local market. Merchants are not keen buyers of fowl wheat, as they prefer to mark time for the present. The wholesale value for lots of any size is about 5s 3d per bushel, sacks 'extra, with prices for small lots ex the store ranging round 6s. Flour and Oatmeal Wholesale prices are as follows: Flour.—2oo's, •£ 13 15s 6d; 100's, £l4 2s 6d; 50's, £l4 17s 6d; 25's, £ls 7s 6d. Bran, £5 5s per ton. Pollard, £6 15s per ton. Oatmeal—2oolb sacks. £23 10s per ton; 25's, £25 10s per ton. Good Quality Oats Samples of oats are now appearing on the market. The quality is quite good considering the weather conditions which were experienced when the crops were growing. Most of the lines are indeed up to A grade, and millers are showing interest in the market, sales of oats of. good weight and quality being secured for the manufacture of oatmeal. Few lines of oats are yet available from Canterbury, and this position has had a firming effect on local values. A Cartons with a handy railage to Dunedin are realising 3s 5d per bushel, sacks extra, on trucks, country sidings, and B s Js la An odd inquiry is received for shipment to the North Island, the current quotations being 4s 3d, f.0.b., s.i., for A Gartons and 4s for B's. Limited Demand for Chaff There is only a limited demand for chaff, and most of the sales are confined to small lots ex the stores, the quotation being £6 per ton, sacks extra. For a truck lot the price is £5 12s 6d. Potato Market Weak The distributing trade reports a very poor consumptive demand for potatoes. High prices ruled for potatoes last season, and this year many more householders than usual planted potatoes in their garUsns. As a consequence, the demand for tubers is restricted at present, and the market is over-supplied. At this time of the year consignments are not properly ripe, arid they cannot be held in the stores, where sales have been made at as low as £3 per ton, sacks included. Despite the low prices, growers continue to send tubers to a market which cannot absorb them. Onions Plentiful The market is fully supplied with Canterbury onions. Prices range from 8s 6d to 10s per cwt. Good Demand for Italian Ryegrass The Itglian ryegrass market continues firm. There has been a strong demand for this seed, farmers sowing out in the dry districts in the hope of obtaining a crop for winter feed. Merchants are not anxious to operate in the ryegrass market owing to the varying quality of the seed. The seed shows signs of damage by weather, and in addition to this there is the uncertain standard of germination. Merchants prefer to operate on a machine-dressed basis, and subject to a satisfactory germination test. This hrs resulted in few sales, and the market is firm for both ordinary and certified ryegrass. It now appears that ordinary ryegrass will be less plentiful than certified, and that this position will apply right throughout the South Island.

The cocksfoot seed market is firm. The new season's seed is of poor quality, and the quantity is much below the returns for a number of years. Growers are inclined to hold off for high prices, and merchants have not been operating to any extent.

The white clover market continues steady, with an occasional line appearing on the market, and satisfactory prices are being paid to growers. There is no export demand at present for this seed. Merchants are awaiting the offerings of the new season's cowgrass seed. Reports indicate that the harvest will be affected by the dry weather conditions prevailing in Canterbury, and that there will be a smaller crop of both ordinary cowgrass and Montgomery red clover. The fescue market is weak. The yields obtained in Southland are exceptionally good, but in. the absence of shipping space merchants are chary about buying in any quantity. Some orders for brown top have come to hand, but buying from overseas has now ceased. The market was slightly firmer, but' is not now attracting much interest. Miscellaneous Produce Wholesale prices are as follows: Chaff. —Good, bright oaten sheaf, £5 12s 6d per ton, ex track to £6, ex store. Potatoes, £3 to £4 per ton. Dairy Butter.—Milled bulk, lOd to lid per lb; separator, lOd to lid per lb; market weak. Bacon, Is 3d per lb. Hams, Is 2d per lb; boneless, Is 4d. Onions.—Canterbury, 8s 6d to 10s per cwt. Eggs.—Stamped, 2s per dozen; storekeepers', Is lid.

FOREIGN MONEYS TIGHTENING OF CONTROL MEASURES IN AUSTRALIA To ensure that all receipts in non-ster-ling currencies in payment for exports from Australia are brought within the control of the Commonwealth Bank, a tightening up of the regulations has taken place. Persons receiving export licences are., enjoined to accept payment only in the currency of the country to which the export is made, or payment through a letter of credit registered with the Bank of England, and to pay the money into a branch of an Australian bank or to the agent of an Australian bank. So far as foreign exchange is concerned, the Australian banks act as agents for the Commonwealth Bank. . . The matter chiefly concerns payments made in dollars for commodities exported to the United States, and the regulations now prevent conversion into Australian currency through the agency of the free market in New York, which has been consistently below the official rate of 4.03 dollars to the £ sterling quoted by the Bank of England. The free market is extremely variable, but when it is so low as it is at present it would be of considerable advantage to an exporter to sell his dollars in the free market rather than at the fixed official rate. The advantage of the new regulations will be to place more foreign currency at the disposal of the Commonwealth Government.

FOREIGN EXCHANGES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Mar. 19. New York, dollar to ,£l .. .. 4.03 Paris, franc to £1 17Gg Amsterdam, florins to £1 .. .. 4.45 Montreal, dollar to £1 .. •• 17.90 Switzerland, franc to £1 .. .. 10-90 Stockholm, kroner to £1 .. ..540 Athens, drachmae to £1 .. .. 75.55 Lisbon, escudo to £1 36.310 Kobe, pence to yen 14 59-64 Hongkong, pence to dollar .. 14 55-(>4 Shanghai, pence lo dollar .. .. 4£ Brussels, belgas to £1 .. .. 23.725 Rome, lire to £1 24.175 Tokio, pence to yen 24.37 Copenhagen, kroner to £1 •• 19-50 Oslo, kroner to £1 17.70 Milan, lire to £1 73.75 Argentina, pesos t'o £1 .. •• 17.075

FRUIT AND VEGETABLES BUSY WEEK IN THE MARTS VERY HEAVY SUPPLIES OF APPLES The outstanding feature of the apple market is the drive by the Government to increase the consumption of this fruit, but sales will have to be on a very large scale if the quantities which will be on the market this season are to be disposed of. Apparently it will prove impossible to sell anything like the quantity grown in the Dominion this season, and many growers will have to find some other way of disposing of their apples. Even under the best conditions many growers will have to bear heavy losses. Last season 1,000,000 cases of apples were exported from the Dominion, but this year, up to the present, none have been sent overseas. This large amount may, therefore, have to come on the New Zealand market, and in addition the crops this season are very considerably larger than usual. Kailway station masters in the Domini'on have been appointed agents for the sale of apples, at fixed prices, and these will be delivered by the Railways Department. All apples for disposal to the public arc graded by the Government department, and those which cannot pass the grade are left on the hands of the growers.

There is no great quantity of pears coming forward so far. Most of the consignments are .from Nelson, with a few lots from Central Otago. The season will be in full swing in about a week's time.

Supplies of peaches are slackening off, and the season is drawing to a Close. Some nice quality peaches of the Gold Dust variety arrived during the week from Central Otago. Nectarines are finished for the season. The season for plums is also drawing to a close.

The tomato market firmed during the week, choice quality selling at up to 4d per lb. Prices all round were above those obtainable last week. Consignments of grapes are still arriving from Kakanui and local hothouses. Small lots of passion fruit are arriving by post from North Auckland.

The marts are sold out of bananas in the meantime. A shipment of Samoan is due to arrive after the Easter holidays.

New Zealand-grown lemons are expected on the market in the next few days. The importation of California!! is to be stopped for the time being. Some nice samples of celery have arrived from the Oamaru district, and are realising high prices. Cauliflowers have a fair demand, but cabbages and lettuce are difficult to sell. The market for green peas is irregular, and it is difficult to explain the fluctuation in prices. The chief sources of supply are Oamaru and the Taieri.

Wholesale prices are as follows: — Oranges.—Jamaican, 24s to 32s 6d. according to count

Apples.—Cox's Orange Pippins, 5s Gd to 7s Gd per case; other desserts, 5s to 6s; cookers, 4s. Local hothouse tomatoes, 4d to 5d per lb; Christchurch, 3d to 4d for best quality; outside-grown, ljd to 2|d. Pears.—Dessert, 3s to 4s per half-case; cookers, to 3s Gd. Peaches.—Crates, to 3d per lb; cases, 2s 6d to 4s Gd. Plums.—Dessert, to 3Jd per lb; 3s to 4s per case; cooking, 2s Gd to 3s per case. Samoan bananas, none available. Lemons.—California!!, 58s per case. Grapes, lid to Is 3d per lb. Passion fruit, 10s to 12s Gd per case. Cauliflowers.—Choice, 4s to Gs per sack. Cabbages. Is to Is 6d per bag. Potatoes. 3s to 4s per cwt. Marrows, 2s Gd per case. Celery. 2d to 4d per head. Cucumbers.— Outside-grown, 4s to 4s 'jd per case; hothouse, 3s to 5s Gd per dozen. Rhubarb, to Id per lb. Green Peas.—Choice, Ud to 2d per lb. Lettuce, Is to 2s per case. Carrots, 9d to Is per dozen bunches. French beans, lid to 2d per lb. Runner beans, Id to ljd per lb. Swedes, Is to Is 3d per sugar bag. Beet. 9d to Is per dozen bunches. Parsnips, Is to Is 3d per dozen bunches; 4s Gd per bag.

SYDNEY STOCK EXCHANGE (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Mar. 20. Received Mar. 22, at 7 p.m.) The following were the sales to-day:— £ s, d. Commercial Bank of Sydney .. 18 12 0 Bank of New South Wales .. .. 2G 1G 0 Austral Gas A G i2 G Associated News 0 l;> o (pref.) 017 6 Australian Consolidated Industries 1 15 fl Broken Hill Proprietary .. .. 2 G 6 The Exchange lias been closed until Tuesday.

CHRISTCHURCH STOCK EXCHANGE HOLIDAY AFFECTS MARKET (Special to Daily Times) CHRISTCHURCH, Mar. 22. This week was a short one on the Stock Exchange, since the Easter vacation Tjegan at noon on Thursday. The turnover for the three and a-half days' trading at £79lb was not heavy, and dealings were confined to a narrower range of issues. Pastoral shares received stronger sunport, but shipping and coal gas shares were emoted only spasmodically. Government loans, bank shares, and industrials generally had a steady inquiry, and these shares accounted for most of the business. Although the demand for some issues was perhaps a little less keen than last weeks', peak prices for Government loans were fully maintained. Banking shares were irregular. Commercial of Australia moved up early in the week to 16s Bd, but later slipped to 16s 6d. National of New Zealand eased to 45s 3d, but Union of Australia rose 2s 6d to £8 4s 6d. Insurances were firmly held, and offers for New Zealand and Standard were above recent levels. • . , Among pastoral shares. Dalgetys. which rose to £7 2s 6d a week ago. had a firm demand at £7 4s, and Goldbrough. National Mortgage, and New Zealand Loan and Mercantile were steady at late rates. Canterbury Frozen Meat preference had its first business since October. 1939. at £6 14s—an advance of „ 14s. Gear (New Zealand) Refrigerating and Southland were also firmer. The only business in the woollen comnanv shares was in Timaru, at an advance of 6d to 9s 6d, and among breweries. Dominion and New Zealand were steady at last week's closing levels. Tooths were easier at 57s 3d to 56s 9d. . A fair number of leading industrials were quoted regularly, and markets for most of them appeared firm to bettei Broken Hill Proprietary were fairly active at 51s lid to 50s 9d. and McKenzies. Ltd at 45s were 3s above their last local, business in November last. Electrolytic Zinc, however, relapsed to 61s. Booth Macdonald preference rose sharply to is. and Dunlop Rubber gained 6d at 21s 9d. Macduffs G. J. Coles, and Woolworths. Ltd., held around last week's prices.

OWAKA STOCK SALE A BRISK MARKET The National Mortgage and Agency Company of New Zealand, Ltd., reports having held its second sale at Owaka on Thursday. The yarding of 3400 sheep of all classes met with an excellent demand the only exception being for backward wether lambs. Included in the entry was a line of 500 four-year Romney ewes from " The Wisp " Station, and these after keen competition, realised 255. A large selection of rams of various breeds sold we'll, one lot of one-shear Ryelands making to 83gns - Good fat lambs made 24s to 25s 9d, medium fat lambs 20s 6d to 22s 6d; butchers* ewes, to 21s 6d; wethers, 23s 6d, freezing ewes, 13s to" 16s 9d; good fourvear Romney ewes, 255; medium, 20s; four six, and eight-tooth crossbred ewes, 25s- 'full and f.m. ewes, 10s to 14s; medium ewe lambs, 225; ordinary ewe lambs, 15s to 17s; best wether lambs, 18s to 18s 7d; medium, 14s to 15s lOd; small, 7s 6d to 10s 6d; one-shear Ryeland rams, 6gns to Si'gns; one-shear Romney rams, 4gns to 6ghs- one-shear Southdown B.L. cross rams' 6gns to 7gns; four-shear SouthdownB.L. cross rams, to 4gns; four shearB.L. rams, 2gns to 4gns.

MINING! Arahura (£1) .. .. — 1 19 3 Clutha River (2s) .. 0 1 3 — Gillespie's Beach (Is) 0 0 4 — Grey River .. — *0 18 6 Nokomai (5s) .. .. — 0 2 0 — 0 2 6 Paddv's Point (5s) .. 0 0 6 — Sandhills (Is) .. .. — 0 0 1* Waitahu (5s) .. .. — 0 1 0 — 1 9 6 BANKING N.'Z (£1) 2 1 3 2 1 9 N.Z. (Long D; £1) .. 1 7 0 — Commercial (10s) — 0 16 9 Natl, of N.Z. (£2 10s) — 2 6 0 8 2 6 INSURANCE National (7s) .. .. 0 19 0 0 19 6 New Zealand (£1) .. 3 1 9 — Standard (£1) .. .. 3 1 3 — SHIPPING P. and O.Def. Stock — 1 12 0 U.S.S. Co. (pref.; £1) 1 6 6 — MEAT PRESERVING Canterbury Meat (pref.; £5) .... 6.10 0 — N.Z. Refrig. (paid; £1) ■• — 1 0 0 N.Z Refrig (cont.; 0 9 0 0 9 3 South. Frozen Meat (paid; £1) .. .. 1 12 0 — South. 'Frozen Meat (pref.; £1) .. .. 1 12 0 — South Otago Freezing 4 15 0 5 5 0 LOAN AND AGENCY Dalgety and Co. (£5) 7 3 0 — Natnl. Mortgage (£2) 1 17 0 — Natnl. Mortgage (B 1 3 6 — N.Z. Loan and M. (ord.; £100) .. .. 33 0 0 — N.Z. Guarantee Corp. (3s) .. .. .; .. — 0 4 1 Perpetual Trustees (18s) 2 8 6 — Trustees Executors 4 1 0 — Wright, Stephenson (ord.; £1) .. .. 0 19 3 — Wright, Stephenson (pref.; £1) .... 0 18 3 — GAS Auckland (£1) .. .. 0 17 0 — Christchurch (£1) 1 5 6 — Christchurch (cont.; 10s) — 0 12 6 COAL AND OIL Kaitangata (16s) 1 11 0 1 12 6 Westport (10s) .. .. 1 4 0 — Westport - Stockton (pref.; 10s) .. .. — 0 6 6 Taranaki Oil (£1 4s 7d) 0 7 3 0 7 9 Taranaki Oil Develop-. 0 3 2 0 3 7 WOOLLEN COMPANIES Bruce (ord.; £1) , .. 0 16 6 — Bruce (pref.; £1) 1 0 0 — Kaiapoi (ord.; 17s) .. 0 14 0 — Kaiapoi (cont.; 7s) .. 0 5 0 — Kaiapoi (pref.; 17s) .. 0 16 9 — 0 17 6 1 —■ Mosgiel (£4) .. .. 10 10 0 — 0 9 0 0 9 9 MISCELLANEOUS Broken Hill Pty. (£1) 2 11 3 2 12 3 Colonial Sugar (£20) 56 0 0 — D.I.C. (pref.; £1) .. 1 2 6 — Dominion Fertiliser (£1) 1 7 0 1 7 6'. Dominion Rubber (£1) 1 2 9 — G. J. Coles (£1) 3 19 6 4 0 6 MacDuffs (ord.; £1) — 0 8 9 MacDuffs (pref.; £1) 0 15 0 — Milburn Lime (£1).. 2 0 0 — McKenzles Dpt. Stores (£1) 2 4 6 — McLeod Bros. (£10) .. — 27 10 0 Natnl. Electric (£1) 0 16 0 — Farmers' Fertiliser (£1) — 1 1 0 Farmers' - Fertiliser (pref.) 1 1 0 1 2 3 N.Z. Paper Mills (£1) 1 10 0 — Otago Daily Times V (£1) 1 19 G — Smith and Smith (pref.; £1) .. .. — 1 0 0 Southland Ice .. 1 2 0 — Woolworths (ord.; 5s) 0 17 3 — Woolworths (Sydney; — 1 4 0 Woolworths Properties, Ltd. 6 p.c. (pref. ord.; £1) 1 6 0 — M.K. Millinery .. .. 0 5 3 —

BREWERIES N.Z. Breweries (£i) - 1 16 9 AUSTRALIAN MINING Broken Hill South (5s) — 1 12 6 Electro. Zinc (pref.; £1) — 3 3 6 Electro Zinc (ord.; £1) — 3 3 0 Emperor (10s) .. .. — 0 16 9 Mount Lyell (£1) .. 1 14 3 1 15 0 Mount Morgan (2s 6d) 0 10 10 0 11 3 Rawang "Tin (10s) — 0 11 0

Macintosh Caley Phoe0 7 9 — Security Finance — 0 7 6 Otago Farmers (A — 1 0 0 Otago Farmers (ord.) — 0 3 0 Wholesalers, Ltd. — 0 15 0 — 0 3 6 Taramakau Dredging to 2 6 — t Premium.