COMMERCIAL

Southland Times, Issue 22345, 9 June 1934, Page 3

COMMERCIAL

FINANCE AND TRADE

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S CALL-OVER. At a meeting of the Invercargill Stock Exchange yesterday the following prices were quoted:— Banks. Australasia: s £l2. Commercial: s 16/9. Commercial (pref. 4 per cent, cum.): b £9 10/-, s £9 17/-. National of Australasia (con.): s £6 8/6. New Zealand: b 52/New Zealand Long “D” issue: b 35/3. Union of Australia: s £lO 2/-. Breweries. Dunedin Brewery Co.: b 25/-. New Zealand Breweries (Shares): b 44/3. Staples’ Brewery: s 30/-. . Timaru Brewery (10/- paid): b 8/9. Coal. Westport Coal: b 17/-. Kaitangata; s 21/6. Insurance. National: s 20/9. New Zealand: b 63/-. Loan and Agency. Goldsbrough, Mort and Co.: s 32/6. National Mortgage “B” Issue: b 31/6. N.Z. Loan and Mercantile: b £57. Trustees’ Executors (Dunedin): b 65/-. Wright, Stephenson and Co. (pref.): b 19/-, s 20/6. Meat Companies. N.Z. Refrigerating (10/- paid): b 8/10. Southland Frozen Meat (£1 ord.): b 66/6; (10/- ord.): b 33/9; (£1 pref.):b 66/6. South Otago Freezing Co.: b £5 19/-. Mining. Broken Hill: s £2 6/6. Golden Sands: s 3/-. Gillespie’s Beach: s 1/11. Waitahu: b 4/-, s 4/8. Kildare: b 1/10. King Solomon: b 3/9, s 4/1. Mahakipawa: b 9Jd, s 1/-. Okarito: b 8/2, s 8/5. Bell Hooper: s Bd. Bendigo: b 7d. Brian Boru: b 1/6. Big River: s lOd. Nevis Diesel: b Sad, s 4Jd. Nokomai: b 2/7, s 3/-. Maerewhenua: s lOd. Moonlight Nelson: b 6d, s 9<L Skippers: s 1/1. Sandhills: s lOd. Upper Shotover: s 9d. Goldfield Dredging: s lOld. Woollen Mills. Kaiapoi (pref.): s 19/6. Mosgiel: b £ 10. Miscellaneous. British Tobacco (Aust.): b 37/-. D.I.C. (pref.): b 23/9. Dominion Fertilizer: b 17/3. Dominion Rubber Co.: s 24/6. Milbum Lime and Cement: b 32/-. New Zealand Drug: b 76/-, s 78/-. N.Z. Farmers’ Fertilizers: s 20/3. N.Z. Paper Mills: b 29/3, s 29/9. Otago Daily Times: b 46/-. Debentures. Government Stock, 31 per cent., 193843: b £lO4. Government Stock, 3J per cent., 193943: b £lO4. Government Stock, 4 per cent., 1940: b £lO5. ■ Government Bonds, 4 per cent, 1940: b £lO5. Government Stock, 4 per cent., 1946; b £lO5 10/-. Government Bonds, 4 per cent., 1946: b £lO5 10/-. Government Stocks, 4 per c§ht., 1949: b £ lO6- x Government Bonds, 4 per cent., 1949: b £lO6- . , nrc Government Stock, 4 per cent., 1955: b £lO7 10/-. Government Bonds, 4 per cent., 1955; b £lO7 10/-. Late Sales on Thursday. King Solomons: 3/9J, 3/9. Skippers: 1/1. THE WEEK’S TRANSACTIONS. There was a fair amount of business transacted during the four days of this week the stock exchanges were open for business. The market for Government stocks continues very firm and business was reported in all issues of the 4 per cents, at the recent high prices. For the tax free stock there was strong buying support which failed to attract sellers, only one sale being reported in this line. A parcel of 1938-52 stock changed hands at £lO5 17/6. The banking section was inclined to be quiet. Bank of New Zealand ordinarys had a few sales at 51/9 and 52/-, but the volume of business was well below the average of the past few weeks. Bank of New Zealand D issue had a sale at the increased price of 35/6, and although more were wanted buyers went unsupplied. Commercials of Australia had little inquiry and the market is unchanged at 16/6 to 16/7. Commercials cf Australia preference were asked for at £9 10/-, but there were no sellers below £9 17/-. Union Banks firmed a little, but the business done was on the light side, one or two sales going through at £lO 0/6. E.S. and A. Banks are a shade below last week’s market, business being reported at £5 5/-. Little change has taken place in the price of Bank of New South Wales shares, sales being put through at £32 2/6 and £32 5/-. The only other bank line to be dealt in was Australasias which brought £ll 15/-. A month ago sales of this bank’s shares were reported at £l2 15/-. The strength of the insurance group was maintained and sales of the leading companies shares were reported at the high levels that have been ruling lately. New Zealands brought 63/9, South British were placed at 80/- and 80/6, and Nationals were disposed of at 20/7. The amount of business transacted in the pastoral group was small. Goldsbrough Morts failed to hold the price they sold at a week ago, the market for this company’s shares easing to 32/- and later to 31/-. A parcel of Loan and Mercantile stock was reported sold at £SB. The meat section was more active than has been the case for some weeks. Quite a number of sales of New Zealand Refrigeratings (contributing) were reported at prices ranging from 8/11 to 9/1, while the fully paids were dealt in to a lesser extent at 19/9. Gear Meats were done at 28/6, showing a firm tone. Southland Frozen Meats had buyers at 66/6, the market for this company’s shares being particularly firm. Although a number of mining companies’ shares were dealt in, the total amount of business put through during the week has often been exceeded. Waihis have been neglected and the same applies to Waihi Grand Junctions. The latter company’s dividend for the year ended December 31, 1933, is payable this week. The market for Okaritos is easier with buyers at 8/1

and sellers at 8/5, but no business has been reported. King Solomons brought 3/8 and 3/7. Towards the end of the week there was some demand for this company’s shares, and the market went to 4/- and 4/3. Mount Lyells show a weaker market, being placed at 21/1 and 21/-. Bell-Kilgours were placed at 4Jd and Bell-Hoopers are unchanged at 7Jd. Waitahus show a wide market with buyers at 4/- and sellers at 4/8. Upper Shotovers have weakened still further with sellers at 9d, but no buyers. Skippers were fairly active, selling freely at 1/1. Mahakipawas have improved, sales being reported at and 1/-. Brian Boru (1/- paid) sold at 1/6J and 1/7, a shade below last week’s figures. No change has taken place in the market for Goldfields Dredging which were done at lOd. Nokomais show a slight improvement, being placed at 2/BJ. Gillespie’s Beach brought 1/9 and Maerewhenuas sold in two or three places at B|d, Business was done in Electrolytic Zinc’s ordinarys at 26/-, and in the preference issue at 33/9. Mount Morgans had several sales at 23/6, 24/- and 25/-. A good deal of interest was taken in the general section and brisk business was done in one or two lines. Dominion Rubbers brought 18/5, showing if anything a slightly easier tone. New Zealand Breweries advanced to 44/6 and 45/-, quite good business being reported. Staples’ Breweries were done at 29/3 and 29/6. Tooth’s Breweries sold at 44/- and a few parcels of Timaru Breweries (7/6 paid) were placed at 7/3. Wilson’s cements, ex dividend, brought 29/3. New Zealand Drugs were reported sold at 77/6. Paper Mills were active, several sales companies’ shares had some inquiry, Dominions being transferred, at 17/5 to 17/9 and Farmers’ Fertilizers at 19/11 and 20/-. The sales of Dominion Fertilizers were cum dividend to the buyer. British Tobaccos had business at 37/6. The directors of the British Tobacco Company (Australia) Ltd., have declared a quarterly dividend on ordinary shares of U per cent., an unchanged rate. Payment will be made on June 30. NORTHERN EXCHANGES. (Per United Press Association.) Auckland. June 8. Sales on’ Change: Stock 1949, 4 per cent. £lO6 10/-; Auckland Harbour 1940, 5J per cent. £lO4 10/- (2); Bank of Australasia £ll 16/-; Bank of New Zealand 51/3, 51/-; Northern Steam 7/3; Kaiapoi Wool con. 4/—; By crofts 48/6; N.Z. Drug Coy. 77/-; Farmers’ Fertilizer 19/11; N.Z. Refrigerating con. 9/1; Robinson Ice 20/-; Wilsons Cement 29/6, 29/7 (2); Woolworths (N.Z.) £5 17/6; King Solomon 4/-, 4/3; Mahakipawa lid (2); Mataki 2/2, 2/3; Talisman Dubbo 13/- (2). Unofficial list: Golconda Holdings 1/6. Wellington, June 8. Sales on ’Change: Bank of Australasia £ll 17/6, ditto. £ll 13/6, odd lot; Bank of N.S.W. £32 1/3; South British Insurance 80/-; Standard Insurance 65/-, last two late Thursday; Tauno Totara Timber 3/6; British Tobacco cum div. 37/7J; Woolworths (N.Z.) ord. £5 16/6; King Solomon 4/-; Skippers 1/1 (2). Christchurch, June 8. Sales on ’Change: Bank of New Zealand (cum div) 51/10, 51/6; Union Bank of Australia £lO (2); National Insurance 20/6; Goldsbrough Mort 30/9; Timaru Brewery (7/6 paid) 6/6 (2); Anthony Hordern 14/5; Bea th and Co. (1/- paid) 8/4; Dunlop Rubber 18/5 (4), 18/6; N.Z. Farmers’ Co-op 4J per cent Stock 1940 £Bl (2); New Zealand Newspapers 30/3; Alexander Mines (13/6 paid) 15/9; Brian Boru (1/- paid) 1/7 (2); Glenroy (9d paid) 9Jd (2); King Solomon 4/1, 4/3 (3); Maerewhenua 9d (5); Mahakipawa lOd, lOJd (3); Mount Lyell 21/- (2); Mount Morgan 25/-. Sales reported: Commercial Bank of Sydney £l7 9/-; Union Bank of Australia £10; Goldsborough Mort (cum div) 31/-; N.Z. Refrigerating (10/paid) 9/-; Dunlop Rubber 18/6 (5); N.Z. Farmers Fertilizer 19/10; Nevis Diesel Electric 4Jd; Mount Morgan 25/3. Sales on ’Change (unlisted stocks): Procera Bread (10/— paid) 13/3; Snowy River lid; Sim Newspapers (10/- paid) 4/2 (3). Dunedin, June 8. Sales on ’Change: New Zealand Breweries 44/3 (3). Sale reported: Dominion Rubber 24/6.

MATAURA STOCK SALE. (From Our Correspondent.) Vendors were well represented at the monthly stock sale held at Mataura on Thursday. There was a large attendance and weather conditions were favourable except for a cold northerly wind. The entry, though small, was fairly representative, and for most classes there was a bright inquiry, with sales quite on a par with recent rates. Fat wethers and ewes, which were in short supply, commanded 24/6 and 15/- respectively. In the store pens old breeding ewes in good condition changed hands at up to 14/6 for full and failing mouths and from 7/7 to 10/6 for failers. Fat lambs realized 24/1, fat and forward line about 22/6 and inferior sorts 16/-. A special entry of unbroken draughts and spring carters was sought after and values ranged up to £29 10/-. Cattle were difficult of sale. Sales were:— National Mortgage and Agency Co., Ltd.:—4 cull lambs 10/3, 108 failing mouth ewes 11/5, 58 f. and f.m. ewes 14/8, f.m. ewes 10/6, 7 do 12/-, 20 fat wethers 23/9, 107 fat ewes 15/-, 131 f.m. ewes 11/8, fat cow £2, 5 empty cows 15/-, store steer 20/-, 10 yearling steers and heifers 35/-, 1 2J-year-old bay gelding (unbroken) £29 10/-, 1 do. £2B 10/-, 1 s.c. gelding £2l 10/-, 1 do. £l5, 1 do. £l6, dk. b. hack mare aged £3 10/-, b.m. aged £3, ch. g. 4 years £6, b.g. 6 years £26. Passed in: dk. b hack mare £7, b.g. 2 years £l9. Wright, Stephenson and Co., Ltd.—l 6 fat wethers 24/6, 10 f.m. ewes 7/7, 117 f.f.m. ewes 14/1, 65 fat and forward lambs 20/3. Passed in: 100 4, 6 and 8-th wethers 21/6.

Southland Farmers’ Co-op. Assn., Ltd.:—6B fat lambs 24/1, 2 store cows 21/-, 3 empty cows 30/-,

N.Z. Loan and Mercantile Agency Co., Ltd.—36 ewe lambs 20/1. Passed in: 33 wether lambs 16/-. DUNEDIN MARKETS. (Per United Press Association.) Dunedin, June 8. The bulk of the wheat crops in the Otago district has now been harvested, but a few samples are still coming forward. Most of the millers have purchased their full requirements, but there is an odd buyer who is interested in Tuscan of milling quality; other varieties are difficult to place. For Tuscan 3/8 f.o.b. to growers’ nearest port will be paid; for Hunters 3/10, and for Velvet 4/-. The fowl wheat market is quiet. Ample stocks are held here, and sales are difficult to make. Best quality is worth 3/4, sacks extra, delivered in Dunedin. The shipping market is also quiet, prices having declined to 3/14, f.0.b., sacks extra. The oat market has continued to be depressed, with little business passing. Threshing returns published recently show that the quantity threshed up to the present is considerably below that of previous seasons. Even, however, with reduced returns, there appear to be ample stocks to meet all demands in the Dominion. Millers are not operating, and it is difficult to make sales with merchants in the North Island. Prices have eased slightly: A Gartons are worth to-day 2/4 per bushel, f.o.b. s.i., and B grade 2/IJ. Few oats are offering from the country. The nominal value is 1/9, on trucks, for A’s, and 1/6 for B’s. Growers are not prepared to sell at these prices. The chaff market continues quiet. Ample consignments are arriving, and few sales are taking place. It is quite an exception to sell a truck load Best quality is worth £3 15/- per ton, sacks extra ex truck. Sales are confined chiefly to store lots, and these are realizing up to £4 5/- per ton. Medium and poor qualities are in poor demand, as buyers prefer to secure best quality. Medium and poor qualities are selling wholesale at £3 per tons, sacks extra. There are no signs of any improvement in the potato market. Local consumption is poor, and consignments-ar-riving from surrounding districts and from South Canterbury are not very readily placed. Best quality tubers are to-day worth £4 per ton, sacks included ex store. An occasional line of King Edwards sells at a higher figure, as buyers show a preference for this variety. The shipping demand continues quiet, with North Island merchants buying sparingly. . Little business is going through m seeds. The markets remain firm, particularly for the finer seeds, such as Chewings Fescue, Brown Top and Crested Dogstail. Cocksfoot is also firm. During the winter months, not much interest is displayed in seeds. Present indications point to a fairly large area again being sown down in pastures as the broken weather is preventing the sowing of wheat. It is anticipated therefore, that a good many farmers will turn their attention to root crops and sowing down in pasture. Fruit Report. Fairly heavy supplies of poorly coloured Jonathans and Delicious are on offer, but the demand for these is poor. Well-coloured lines have a keen demand, and there is a better inquiry for Sturmers. Large cookers realize sound values, but small grade are hard to Lemons are in good supply. Bananas are not so plentiful. A further shipment of Samoan will arrive next week, while a line of Fijian is expected at Auckland to-morrow, and the Dunedin portion will also arrive next week. Choice quality dessert pears have a better demand. Passion fruit is in short supply. A few lots of tomatoes are still on offer. Outside grown have a poor demand, but choice quality hothouse realize good values. . Hothouse grapes are still reaching the market, and are bringing high prices. _. Island-grown oranges are on otter in the fruit marts. There will be no further shipment of Island oranges until the end of June. Californian Valencias are in good supply, and a further shipment will arrive in Auckland to-day. CANTERBURY MARKETS. BRIGHTER POSITION FOR POTATOES. (Per United Press Association.) Christchurch, June 8. The local potato position is a little brighter because of the wet weather delaying digging, and the f.0.b., s.i. price has improved to £3 15/- per ton for prompts. Where potatoes have been dug, it has taken a few days for them to dry sufficiently to truck away. A few days’ fine weather will allow supplies to come to hand. The boat early in the week took 4500 sacks, and another boat is loading to-mor-row. Fowl wheat is dull of sale, and is quoted at 3/1 and 3/11 f.0.b., s.e. [ Partridge peas are worth 4/3 f.0.b., s.i. for Number Ones. Oats are not inquired for. Nominal quotations are 1/8 and 1/9 for Algerians; A Gartons realized to 1/11, and B Gartons to 1/8, all on trucks. There is still Cocksfoot offering. Values are 9d to lOd per lb for farmers’ dressed. Ryegrass has eased off to 3/to 3/3, and there is no inquiry for it. Cowgrass is worth 8d to 9d per lb, and White clover 1/- to 1/3, to farmers. Crops of both have been short, and prices are so high for most seeds that buying is very restricted. AHIKOUKA FRIESIAN SALE. KEEN BIDDING FOR GOOD CATTLE. 152 HEAD AVERAGES 15 GUINEAS. The dispersal sale held on Tuesday, June 5, at the Wairarapa Showgrounds, Carterton, of Mr O. A. Cadwallader’s Ahikouka Friesian herd, attracted a large and representative attendance of local and visiting breeders. The Ahikouka Friesian herd, established in 1920, was acknowledged as one of the very best studs in New Zealand. The offering comprised 170 head, and the cattle were brought forward in splendid order and condition. The whole of the cattle were rugged and stalled in the capacious pavilions, and made a gallant showing, visitors expressing gratification at the splendid quality and uniformity which marked the herd. The selling agents were Messrs Wright, Stephenson & Co., Ltd., who put the sale through in expeditious style, the hammer falling on the last lot before 4 p.m. For the times, and in consideration of conditions ruling in the dairy industry, it was a great sale. The auctioneers were Messrs J. C. Broad and C. E. Robertson, the latter making the announcements regarding the sale promptly at 10 a.m., and selling commenced with the stud bulls, the top price being 80gns. for the Royal Show winner and Masterton champion, Totara Ranger Lad. Overseas buyers were after this splendid bull, but the local breeder, Mr C. Knutson, would not be denied and outbid all opposition. The ten stud bulls averaged 33 gns, one going to New South Wales and the balance being well distributed among local and both North and South Island breeders. The top prices for females, 59gns, was also paid by a local breeder when Mr K. Fairbrother, of Dalefield, paid this sum for the three-year-old heifer, Ahikouka Wayne Olga. Mr Peter Bain, of Carterton, as well as Mr Knutson, was a very extensive buyer, so that many of the picked lots will remain in the Wairarapa. However, many lots were purchased by

buyers from Southland, Otago, Canterbury, Marlborough, Taranaki, Hawkes Bay, Bay of Plenty, the King Country and the Manawatu, which indicated the representative nature of the attendance. The bulls sold exceptionally well, and there were not really sufficient on otter to meet requirements. A total of 152 head made the splendid average of 15gns, a price which marks this sale as the best sale for a considerable number of years. At the conclusion of the sale, Mr J. P. Kalaugher, secretary of the N.Z. Friesian Association, complimented Mr Cadwallader upon toe condition in which he had yarded his stock and also toe auctioneers for the manner in which they handled the sale. He had not thought it possible for such a large offering to be put through in the one day. It was, in his opinion, a splendid sale. DAIRY PRODUCE PRICES. Messrs Dalgety and Company, Limited, report having received the following market cable from Messrs Samuel Page and Son, London, under date of the 7th inst: Butter: Market firm, but less active. We quote Danish 86/-; New Zealand finest salted 77/- to 79/-; Australian finest unsalted 74/- to 76/-; Australian finest salted 73/- to 75/-; Australian G.A.Q. 71/- to 72/-. Cheese: Market firm. We quote New Zealand white 46/- to 47/-; coloured 44/— to 45/-; Canadian white 52/- to 56/-; coloured 52/- to 56/-; C.I.F. 47/to 48/-. The National Mortgage and Agency Company report having received the following cable from their principals, Messrs A. J. Mills and Co., Ltd.. London: — , Butter. —Market steady. New Zealand finest, 78/- to 79/-; New Zealand first grade, 77/- to 78/-; unsalted. New Zealand, 80/- to 82/-; Danish, 86/-; Danish f.0.b., 65/-; Australian, 74/- to 75/-. „ , , Cheese.—Market firm. New Zealand white, 46/6 to 47/-; New Zealand coloured, 44/6 to 45/-; Canadian white, 54/- to 56/-; Canadian coloured, 52/to 54/-.

Messrs A. H. Turnbull and Co., Ltd., report having received a cable from their principals, Messrs W. Weddel and Co., Ltd., dated London 6th instant, reading:—“Danish butter 86/-; New Zealand finest 78/- to 79/-; Kangaroos 73/- to 75/-. Butter market steady. New Zealand cheese, white 46/6 to 47/-, coloured 44/6 to 45/-. Cheese market steady.”

Messrs A. S. Paterson and Co., Ltd., report having received the following cable from their principals, Messrs J. and J. Lonsdale and Co. (London), Ltd., London, dated 7th instant: —“Butter: Market firm, but slow demand. New Zealand 78/6, 79/-; Australian 74/-, 75/-; Danish 66/-. Cheese: Market is firm in consequence of small stocks. White 47/-, coloured 44/6; Canadian 49/- c.i.f. MINING COMPANIES. KING SOLOMON RETURN. The return at the King Solomon mine this week was 530 z 15dwt. BELL KILGOUR WASH-UP. (Per United Press Association.) Dunedin, June 8. The Bell Kilgour wash-up for the week ended on June 8 amounted to 7oz 17dwt 12grs for five days’ work. THE NEVIS DIESEL ELECTRIC DREDGING CO., LTD. The secretary of the Nevis Diesel Electric Dredging Co., Ltd., reports that the dredgemaster succeeded in putting down two shafts to test the No. 5 and No. 6 bore put down by Investigations Ltd., but was unable to do any boring. The dredge has closed down for the winter, and it is not expected that it will be possible to do any work until September. Mr Caithness, formerly dredgemaster, has resigned his position, but in the meantime no new appointment will be made. SYDNEY STOCK EXCHANGE. RECORD TURNOVER IN GOLD SHARES. (United Press Assn.—Telegraph Copyright.) (Rec. 8.45 p.m.) Sydney, June 8. On the Stock Exchange to-day there was a record turnover in gold shares, but price movements were not spectacular. Sellers were anxious to take profits, causing reaction from the higher levels earlier in the week. Despite the announcement of the heavy oversubscription of the new internal loan, the investment market was quiet, uncertainty in regard to the wool sales causing hesitanev. Sales:—

CHILLED BEEF. AUSTRALIAN SHIPMENT DlSAP(United Press Assn.—Telegraph Copyright.) London, June 7. The Port Fairy’s and Port Huon’s New South Wales chilled beef turned out in disappointing condition. There was no mould but it was too hard and the colour was poor.

ZINC CORPORATION LTD. (Per United Press Association.) Wellington, June 8. The board of directors of the Zinc Corporation Ltd. have declared a participating dividend of ninepence per share on both preference and ordinary shares in respect of 1933 and also a dividend of two shillings per share on preference shares, being the first half of a fixed preferential dividend for 1934. Both these dividends are less income tax at 2/6 in the £ and will be paid on July 2 in British currency to the shareholders on both the London and Melbourne registers. TRUSTEES AND EXECUTORS AGENCY CO. REPORT OF DIRECTORS. The annual report of the directors of the Trustees and Executors Agency Company states that the profit and loss account shows a net profit for the year of £1827 17/6 to which has to be added the balance of £7526 2/6 from last year, making a total at credit of £9354. An interim divided of 2J per cent for the half-year ending September 30, 1933, was paid, amounting to £SOO, leaving a balance to be dealt with of £8854. Of this balance the directors recommend the following appropriation to be made:—

The retiring directors are Messrs P. C. Neill and S. C. Sutherland, who, being eligible, offer themselves for reelection. CONSOLS AND COLONIAL STOCKS. (United Press Assn.—Telegraph Copyright.) London, June 7. Hie following table gives quotations for consols and colonial inscribed stocks, compared with those of May 31: Last week. This week.

THE METAL MARKET. (United Press Assn.—Telegraph Copyright.) (Rec. 8.55 p.m.) London, June 7. Metal quotations are as follows:—

LONDON SHARE QUOTATIONS. (United Press Assn.—Telegraph Copyright.) London, June 7. Shares: Peninsular 16/9. Mt. Lyell 17/3. New Guinea 5/3J. ZINC CORPORATION’S DIVIDEND. (United Press Assn.—Telegraph Copyright.) London, June 7. The Zinc Corporation is participating in dividends of 9d per share on preference and ordinary, making 15 per cent, for 1933, also 2s on the preference for the first half of 1934. THE DOLLAR AND THE FRANC. (United Press Assn.—Telegraph Copyright.) London, June 7. The dollar is quoted at 5.06/ and the franc at 76:1 to the £ sterling. PRICE OF GOLD. (United Press Assn.—Telegraph Copyright.) London, June 7. The price of gold is quoted at £6 17/14 per ounce. LONDON MARKETS. (United Press Assn.—Telegraph Copyright.) London, June 7. Bradford: Business is restricted and prices are irregular. Quotations: 70’s and 50’s, 16Jd; 46’s, 12d; 40’s IOJd. Butter: Firm. Danish 86/-; Choicest salted New Zealand 78/-, 79/-; Australian 75/-. Unsalted New Zealand 78/-, 80/-; Australian 75/-, 76/-. Cheese: Better demand. New Zealand coloured 45/-, white 47/-, Australian temporarily cleared. WHEAT CARGOES. (United Press Assn.—Telegraph Copyright.) London, June 7. Wheat: Cargoes duller, being Id to 3d down. Parcels of Australians are steady, while others are 3d to 6d down. Futures: London, June 18/9, September 19/5, December 20/8; Liverpool, July 4/B|, October 4/10J, December 5/lf per cental. Spot trade is quietly steady. Australian, ex ship, 26/6. Flour: Finn. Australian, ex store, 17/6, 18/6. Oats: Better demand. Australian Algerian 16/-, 16/6. A Gartons 18/6, 19/6. Peas: Neglected: Maples Tasmanian 46/-, 47/-; New Zealand 44/-, 45/-; Blue Tasmanian 230/-. New Zealand beans: 29/-, 30/-.

ig uesiiauvy. uaivo. — £ s d Bank of New South Wales 31 5 0 Commercial Bank of Sydney 17 10 0 National Bank (£5 paid) 6 6 0 Colonial Sugar 66 5 0 Associated Newspapers 1 2 n Associated Newspapers (pref.) 1 4 0 Australian Gas (A) 7 19 6 British Tobacco 1 18 0 Tooth’s 2 4 3 Toohey’s 1 18 6 Goldsbrough Mort 1 11 3 Winchcombe Carson 1 9 6 Morris Hedstrom 16 6 Henry Jones 1 12 9 Fairymead Sugar 1 15 6 Electrolytic Zinc 1 6 0 Anthony Hordern 14 6 Anthony Hordern (pref.) 1 5 0 Lustre Hosiery 1 3 9 Standard Cement 17 9 Automatic Totalisators 18 0 Commonwealth Wool 19 10J General Industries 12 1 General Industries (pref.) 1 3 9 Goodyear (pref.) 1 12 6 Drug Houses of Australia 19 10 J Mt. Morgan 1 6 3 Broken Hill Pty. 2 5 3 Kuala Kamfar 16 9 Rawang Tin 8 9 Placer Development 24 12 0 Euratha Gold 13 3 Tullamore 1 5 0 Lancefield 12 9 Aroheim 13 10 Golden Mile 3 2 Golden West 4 8 Commonwealth Bonds (4 per cents) — 1938 106 2 6 1941 105 15 0 1944 106 15 0 1947 107 15 0 1950 108 15 0 1953 109 0 0 ' 1955 109 7 6 1957 107 15 0 1959. 108 2 6 1961 108 10 0 Melbourne Sales. Bank of Australasia 11 10 0 Commercial Bank of Australia (pref.) 9 15 0 Goldsbrough Mort 1 11 0 Mt. Lyell 1 1 0

£ s d To dividend of 3J per cent, making 6 per cent for the year 700 0 0 To be written off freehold property account 250 0 0 To be written off office furniture and stationery 18 9 10 Balance to be carried forward (subject to income tax for year just ended) 7885 10 2 £8854 0 0

£ s d £ s d Consols, 24 p.c. 77 10 0 77 0 0 Funding Loan, 4 1960-90 113 0 0 113 0 0 War Loan, 31 102 2 6 102 0 0 Conversion Loan, 3| 102 10 0 102 5 0 Victory Bonds, 4 110 12 6 110 17 6 Commonwealth — 5 p.c., 1945-75 100 1 3 107 17 6 6 p.c., 1931-41 100 12 6 100 0 0 34 p.c., 1936-37 101 16 3 102 0 0 Victorian— 3 p.c., 1929-49 95 12 6 94 0 0 34 p.c., 1929-49 99 11 3 99 13 9 4J p.c., 1940-60 106 8 9 104 0 0 New South Wales 3 p.c., 1935 101 11 3 101 10 0 31 p.c., 1930-50 99 10 0 97 5 0 Queensland — 5 p.c., 1940-60 107 3 9 106 13 9 3 p.c., 1922-47 96 1 3 94 11 3 New Zealand— 44 p.c., 1948-58 107 2 6 106 17 6 34 p.c., 1940 101 17 6 100 3 9 3p.c., 1945 97 17 6 97 13 9 6 p.c. 1936-51 104 15 0 107 11 3 South Australia— 34 p.c., 1939 102 0 0 100 12 6 3 p.c., 1916 or after 85 12 6 84 0 0 Tasmania— 3| p.c., 1920-40 101 15 0 100 2 6 3 p.c., 1920-40 99 0 0 97 17 6 Western Australia3J p.c., 1929-35 101 5 0 101 10 0 3 p.c., 1915-35 101 0 0 100 18 9

£ June 6. June 7. s d £ s d Copper— Standard, spot 32 9 44 32 13 6J Forward 32 15 71 33 0 74 Electrolytic 35 15 6 35 15 0 to 35 17 6 36 5 0 Wire Bars 35 17 6 36 5 0 American 8.50 cents 8.50 cents Lead— Spot 11 2 6 11 3 9 Forward 11 7 6 11 8 9 Spelter— Spot 14 13 9 14 17 6 Forward 15 0 0 15 2 6 TinSpot 228 7 6 231 17 6 Forward 226 3 9 229 17 6 Silver— Standard, per oz 1913-16 19? Fine, per oz 21 3 21 516