COMMERCIAL

Southland Times, Issue 25306, 8 June 1935, Page 3

COMMERCIAL

FINANCfc AND TRADE

INVERCARGILL STOCK EXCHANGE LIMITED. INVESTORS are advised to consult and transact their business with accredited members of the • Invercargill Stock Exchange as under: — A L. ADAMSON. Crescent R. R. BINNEY, Tay Street J. T. CARSWELL (Carswell & Co.). D. CUTHBERTSON. Esk Street A W. JONES (W A Ott & Co. Ltd.) A H. MACKRELL, Dee Street W. A OTT (Ott & Co. Ltd.). Dee St E. B. PILCHER, Esk Street J. B. REID (Reid & Jones) Don St D, M. SCANDRETT. Esk Street F. BL TUCKER, Clyde Street T. H. WATSON, Clyde Street

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S CALLOVER. At a meeting of the Invercargill Stock Exchange yesterday, the following prices were quoted: Government Debentures. Government Stock, 3J per cent., 193843: b £lO5. " Government Stock, 3J per cent., 193852: b £lO6. Government Stock, 3J per cent., 193943: b £lO5. Government Stock, 3J- per cent., 193952: b £lO6. Government Stock, 4 per cent., 1940: b £lO3. Government Bonds, 4 per cent., 1940: b £lO3. Government Stock, 4 per cent., 1946b £lO7 10/-. Government Bonds, 4 per cent., 1946: b £lO7 10/-. Government Stock, 4 per cent., 1949b £lOB. Government Bonds, 4 per cent., 1949: b £lOB. Government Stock, 4 per cent., 1955: b £ll2. Government Bonds, 4 per cent., 1955: b £ll2. Banks. e Commercial: s 15/3. E.S. and A. Bank: b 99/-. National of New Zealand: b 67/-, s 68/6. New Zealand: b 50/9. Union of Australia: b £9. Breweries. Dunedin Brewery Co.: s 30/-. New Zealand Breweries—(shares): b 53/3. Timaru Brewery: s 8/2. Coal. Westport Coal: b 20/9. Insurance. National: s 21/4. Standard: b 72/-, s 73/6. Loan and Agency. National Mortgage, “B” issue: b 31/-. Wright, Stephenson and Co.—(pref.): b 19/3. Meat Companies. N.Z. Refrigerating—(2o/- paid): s 20/4; (10/- paid), s 9/2. Southland Frozen Meat—(£l ord.), s 76/6. South Otago Freezing Co.: b £6 13/-. Shipping. Union Steam Ship Co. (pref.): b 26/9. Miscellaneous. Australian Glass: b 67/6. Australian Iron and Steel: b 22/-. British Tobacco (Aust.): b 38/-, s 38/6. ’ D.l.C.—(ord.) : b 15/-. Dominion Rubber Co.: s 30/6. Donaghy’s Rope and Twine: b 50/-. Milburn Lime and Cement: b 44/-. New Zealand Drug: b 82/-. New Zealand Paper Mills: b 34/-. Woolworths (Sydney): b 89/6, s 91/6., Mortgage Corporation: b 1/6 prem. Woollen Mills. Bruce: s 14/-. Mining. Bendigo Goldlight: s 11 Jd. Broken Hill: b 55/6. Big River: b 2/5, s 2/6. Electrolytic Zinc—(ord.): b 25/6. Goldfields Dredging: s 4d. Kildare: b 3/4, s 3/6. King Solomon: b 3/10, s 4/2. Mount Lyell: b 19/11, s 20/3. Mahakipawa: b Bd. Moonlight Nelson: s Id. Mount Morgans: s 36/6 Nokomai: s 2/9. Okarito: b 5/-. ■* Skippers: s 3d. Maori Gully: b 1/7J. Waimumu: s 1/-. Sale Reported. Staples’ Brewery: 33/-. THE WEEK’S TRANSACTIONS. With one day fewer for business this week the turnover on the Stock luxchange can be considered fairly satisfactory. ± . . Buying support was not strong, out there has been no great change in the market prices for stocks and shares. With the exception of the 1940 4 percent. bonds and stock, Government loans remain strongly supported; but supplies appeared - to be very scarce.. There was some trading done in the longer dated 3 J per cent, stock, sales being made up to £lO7 5/- and £lO7 10/-. There is still a strong inquiry for local body debentures, but good sized parcels are hard to procure. Bank shares show little change. The bulk of the business done this - week was in Bank of New Zealand (ordinary), sales of which took place at 50/9 to 51/-. The Bank of New Zealand s : final dividend for the year ended March . 31 is payable to-day week. . A fair i amount of business was done in Com- j mercials of Australia, the market for which is, if anything, a shade weaker, sales being reported at 15/3 and 15/1. Australasias are not quite so firm, being placed at £ll, 5/- below last week’s figure- E.S. and A. Banks have been steady for some time and the period under review saw no change, business going through at £5. Nationals of New Zealand, although lightly dealt in, are a shade firmer at 67/6. Union Banks continue -to move upwards, the latest sales being at £9 1/6. Reserve Bank of New Zealand shares advanced to £6 14/9 and £6 15/-, but the amount of trading done was on the small side. From yesterday this bank s shares were quoted ex dividend. During the last few weeks the insurance section has received only limited support, and during the present week it experienced a very quiet time. New Zealand Insurances were asked for at 70/- and there were sellers of Nationals at the reduced figure of 21/4. Stan- I dards were wanted at 72/-, with no ! sellers below 73/6. South British did not hold their price, sales being made down to 96/9. Pastoral and financial companies shares were quiet, and there was little doing in this section outside of a few sales of Loan and Mercantile stock at £36 10/-. The Frozen Meat section has been quiet for some weeks, but during the last few days the market has been rather dull. New Zealand Refrigerating Company’s shares brought 9/-, but the amount of trading done

was on the small side. Southland Frozen Meats had sellers at 76/6, and for South Otago Freezing Company s sharps there are still buyers about at £6 13/-. The mining section was responsible for a certain amount of business. Mount Lyells eased in price in sympathy with the copper market. Sales were fairly numerous .at 19/11 and 20/-. Mount Morgans were, placed at 36/-, and it looks as if the fall in price here has been arrested. Broken Hill Proprietary Company’s shares were placed at 55/9 and later at 56/3. Pressure from sellers caused a further decline in Waihis, the market falling to 38/6. Big Rivers are fractL-nully easier at 2/4J. The market for this company’s shares was quieter than usual. Bendigo Goldlights were placed at Hid, showing an unchanged market. King Solomons took a move upwards, a few parcels changing hands at 4/-. Maori Gullys were quiet with little change in price, sales being made at 1/7J. Skippers show some slight improvement, the latest business being done at 2Jd. Mahakipawas. are steady, sales being, reported at 81d. There was some inquiry during ihe week for Okaritos, resulting in sales at 5/2 and 5/3. Gillespie’s Beach moved up a little, business going through at 1.5*. In the miscellaneous section the volume of business was below that of the past few weeks. New Zealand Breweries were quiet with a fairly steady market and sales at 54/-. Staples’ Breweries were placed several times at 33/-. Tooth’s Breweries, although not particularly active, are steady at 52/6. Business was reported in Timaru Breweries (7/6 paid) at the increased price of 8/2. Dunlop Rubbers have fluctuated in price a good deal lately. The market during the week showed improvement over than of the previous period, sales being reported at 16/7, 16/8 and 16/9. Some inquiry still continues for Australian Iron and Steel preference shares and business in this line was done at 22/5. British Tobaccos are not quite up to last week’s figure, a few sales going through at 38/-. Westport Coals came in for some attention, a fair amount of trading being done in this company’s shares at 21/-. Big business was done in Sun Newspapers, sales ranging from 7/11 to 8/4 being reported. Woolworths (Sydney) experienced the quietest period for some time, only an odd sale or two | going through at 90/J. Buyers for Mortgage Corporation shares made an appearance during the last few days, quoting 1/6 premium. NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 7. Sales on ’Change: Stock, 1938-1943, 31 per cent. £lO5 7/6; Stock, 1940, 4 per cent. £lO3 10/-; Stock, 1949, 4 per cent. £IOB 10/-; Stock, 1955, 4 per cent. £ll2 10/-; National Bank of New Zea-, land £3 7/6; National Bank of Australasia (£5 paid) £6 3/9; New Zealand Insurance 70/-; Farmers’ Co-oper-ative (Auckland; B pref.) 21/6; Pukemiro Coal 26/6; Auckland Gas 27/-; Devonport Ferry 22/9; National Tim(ber 13/6 (2); British Tobacco 38/-; Donahy’s Rope 51/-; Milburn Lime 44/-; Henry Jones 35/9; Wilsons Cement 37/-; Skippers 2Jd; Waihi 37/9; Brian Boru 2d. Wellington, June 7. Sales on ’Change: Stock, 3J per cent. 1938-1952 £lO7 5/-; National Insurance 21/-; New Zealand Insurance 70/3 (2) (late Thursday); Dunlop Rubber 16/6, 16/5; Gillespie’s Beach 1/6; Mount Lyell 20/-, 19/10. Christchurch, June 7. Sales on ’Change: New Zealand Government 4 per cent. Inscribed, 19371940, £lO3 2/6 (2); Goldsbrough Mort 29/3, 29/6; New Zealand Refrigerating (£1 paid) 19/6, 19/5; New Zealand Breweries (cum. div.) 53/6 (2), 53/4 (2), 53/3, 53/4, 53/3; Broken Hill Proprietary 55/9; Anthony Hordern 18/3; Dunlop Perdriau Rubber 16/6 (3); Kauri Timber 20/1; Sun Newspapers 8/1 (2); Brian Boru 2£d, 2Jd; Mahakipawa Bjd; Maori Gully 1/7J. Sales reported: New Zealand Government 31 per cent. Inscribed, 1938-1952, £lO7 5/- (2); New Zealand Government 4 per cent. Inscribed, 1937-1940, £lO3 10/-; Goldsbrough Mort 29/6; New Zealand Breweries 53/2; Dunlop Rubber 16/4, 16/5; Sun Newspapers 8/-; Woolworths, New Zealand (ord.) £ll 1/-; Golden Point Id; Mount Lyell 20/-; Worksop Extended 2/4 (late Thursday). Unlisted - sale reported: Woolworths, Sydney (ord.) 90/-. Dunedin, June 7. Sale on ’Change: Waitahu 2/-. Sales reported: Reserve bank of New Zealand £6 14/9; New Zealand Loan (ord.) £36 17/6, £37 (both late Thursday); P. and O. (def.) £1 1/6; New Zealand Refrigerating (cont.) 9/11; Westport Coal £1 1/-; Broken Hill Proprietary £2 16/6; Donaghy’s Rope £2 11/- (2); Mount Morgan £1 16/-; Blackwater £1 11/9; Mossy Creek 2/9; Maori Gully 1/8.

and supplies have to be drawn from Canterbury. Several lines have been railed to Dunedin and the present value of good quality is 4/7, ex truck, sacks extra. Small lots are selling at up to 5/-, sacks extra, ex the stores. The oat market remains firm. There are practically no offerings from the country and in addition the stocks in the stores in Dunedin are lighter than they have been for a number of years. An occasional shipping order is arriving to this port on a basis of 3/4 per bushel, f.0.b., s.i, for A grade Gartons, and 3/1 for B’s. Millers are also purchasing any lines suitable for their requirements. The current value of oats in the country is 3/-, sacks extra,’ on trucks, for heavy A Gartons, 2/10 for ordinary A’s, and 2/7 for B’s. There is a steady demand for chaff, but business is mostly confined to small lots, ex the stores. Canterbury is still being drawn on.for local supplies. The value for truck loads is £5 per ton, sacks extra; lots ex the store are selling at £5 10/-, sacks extra. Although there has not been much movement in the local potato market, there is now a firmer tendency. Most of the local grown tubers have been delivered to the stores and merchants have been working on these stocks for some time. It will not be long now before consignments will have to be drawn from the north. Owing to the presence of blight, consignments of locally grown potatoes have had to be quickly disposed of, and this has affected values. Best quality Arran Chiefs have been selling at £5 10/- per ton, sacks included, and King Edwards, at £6. The shipping market is firm, with higher prices being quoted at northern ports; it is expected that it will not be long before this firming will be reflected in the local market. During the week there have been some inquiries from overseas for Ryegrass, and sales have been made for prompt delivery. As a consequence there has been a firming in the Perennial Ryegrass market. In other lines business is quiet, with values remaining steady. Stocks of all lines are on the light side, but it is considered that they will be just about sufficient for the Spring retell requirements. The market for both Brown Top and Chewing’s Fescue is quieter, after a certain amount of exnort business. The overseas demand for both these seeds has quietened during the past week. Fruit Report. Heavy supplies of anples are still arriving, mainly from the Central Otago district. Prices for choice quality lines are disappointingly low, the principal cause being •• the heavy supplies of inferior grade on offer. Dessert pears are plentiful, and the market is easier. Oranges are in short supply, with only Californian grown on offer. Both the wholesale and the retail fruit merchants have welcomed the news regarding Australian citrus fruits, which will reach the local market early in July, and even now orders for this fruit are being received. The supply of hothouse grapes has practically ended. New Zealand lemons are plentiful, with low prices ruling. Californians are in good supply. Hothouse tomatoes from Kakanui and Christchurch are offering freely and have a good demand. Outside grown tomatoes are still offering in small lots, but they have a poor demand. A further shipment of Samoan bananas will arrive on Wednesday by the Port Whangarei, trans-shipped from the Maui Pomare at Lyttelton. MATAURA STOCK SALE. GOOD YARDING OF STOCK. (From Our Correspondent.) There vzas a fair attendance at the monthly stock sale at Mataura saleyards on Thursday, despite the rather cold and dull weather experienced. The yarding was of a similar standard to recent auctions and vzas reflected in the somewhat indifferent inquiry for most classes of stock. Nevertheless prices were on a par with ruling rates. Local requirements were filled in the few pens of fats yarded, prime wethers bringing up to 24/- and ewes 11/-. In the store section breeding ewes and lambs predominated, but prices here were subject to the demand. There appeared to be a slight advance in cattle prices. Following are the principal sales:— Southland Farmers’ Co-op. Association,. Ltd., yarded 80 ewe lambs (in conjunction with the National Mortgage Agency Co.) 20/6, 24 cull m.s. lambs and 51 s.m. ewes 20/8. Wright, Stephenson and Co., Ltd.: 70 f.m. ewes 6/-, 10 store lambs 12/6, 20 2-tooth wethers 17/6, 5 fat ewes 11/-, 4 fat wethers 24/-, 77 f.m. ewes 5/3, fat bullocks £7 12/6, £6. National Mortgage and Agency Co.: 52 f. and f.m. ewes 13/-, 9 fat wethers 23/6, 19 f. and f.m. ewes 8/3, 22 store lambs 9/10, 13 f.m. ewes 5/6, 28 do. 5/-, 22 fwd. lambs 15/3, 86 ewe lambs 20/6 (in conjunction with Farmers’ Co-op.), 57 f.m. ewes 5/-, 2 empty cows 27/6 ; 2 dairy heifers £2, bull £2 5/-, cow £B, 5 three and four-year-old steers £4 5/-, 2 cows (empty) 22/-, 2 two-year-old steers 31/-, 2 18-months heifers 30/-, 5 calves 22/-. Passed in: 25 fat wethers 19/-, 101 store lambs 14/7, 90 4, 6 and' 8-tooth ewes 14/9, 141 f. and fwd. lambs 17/9. MINING REPORTS. KING SOLOMON RETURN. The return of the King Solomon mine this week was 620 z. lldwt. GOLDEN SANDS, LIMITED. The secretary of Golden Sands, Ltd., reports that word has been received from the mine manager that the shifting of the plant has been completed, and sluicing will recommence to-day on the back lead. PADDY’S POINT. (Per United Press Association.) Dunedin, June 7. The secretary of the Paddy’s Point Gold Mining Company, Ltd., reports a wash-up of 590 z sdwt., as the result of 23 days’ sluicing. ADDISON COMPANY’S RETURN. (Per United Press Association.) Westport, June 7. Addison’s mine return for the fortnight ending last Saturday was 14oz 17 dwt for 36 shifts. The manager reports a continuation of the prospecting cut westward and expects fair values in about a fortnight. DAIRY PRODUCE PRICES. Messrs Dalgety and Company Limited report having received the following cable from Messrs Samuel Page and Son, London, under date of the 6th instant:— London Dairy Product Market: Butter, market firm. We quote: Danish 76/- to 78/-; New Zealand finest salted 82/6 to 83/-; Australian finest unsalted 81/- to 82/-; Australian finest salted 81/- to 82/-; Australian G.A.Q. 76/- to 77/-. * Cheese: Market slow. We quote: New Zealand white 42/6 to 43/-; coloured 43/- to 44/-; Canadian white 56/- to 64/-: coloured 56/- to 64/-. The National Mortgage and Agency Company report having received the following cable from their principals, Messrs A. J. Mills and Coy., Ltd., London:—“Butter. Market firm'; New Zealand finest 83/-; New Zealand first 81/-, 82/-; Danish 98/-; Danish

f.o.b. 76/-; Australian 81/-, 82/-. Cheese. Market quiet New Zealand white 43/-, 43/6; blew Zealand coloured 4376, 44/-; Canadian 60/-, 62/-; 58/-„ 60/-.” Messrs A. S. Paterson and Co., Limited report having received the following cable advice from their principals, Messrs J. and J. Lonsdale and Co. (London) Limited: —Butter.—Market firm Colonial, quiet Continental, Danish market steady 76/-, landed cost 97/-; New Zealand 83/- to 84/-; Australian 82/-. Cheese.—Market steadier, white cheese 43/-, coloured 43/6. THE MEAT MARKETS. The Bank of Australasia has received the following cable from its London Office dated June 4:— New Zealand Lambs.—Demand checked for the time being owing to recent rise in prices. In view of smaller shipments it is anticipated that present prices will be maintained. New Zealand Mutton.—Only a fair demand; market steady, but stocks too large to permit of bettei’ prices, and no material change is expected at present. New Zealand Beef.—Demand and prices steady and no material change anticipated. BANK OF ENGLAND RETURN. INCREASED NOTE CIRCULATION. (United Press Assn.—’Telegraph Copyright.) London, June 6. The increase in the note circulation and the decrease in the reserve, shown in the Bank of England return, are due to the cash demands for the Whitsuntide holidays. The movements in the public and bankers’ deposits are due to interest payments. CANTERBURyAiARKETS. POTATO MARKET QUIETER. PRICE OF POULTRY WHEAT REDUCED. (Per United Press Association.) Christchurch, June 7. The excitement in the potato market has subsided to some extent and at the moment there is very little movement. Up to £6 12/6 and £6 15/- a ton has been paid during a brief period by over-sellers, but the limit asked to-day for prompts is £6 10/-; however, the buyers’ limit for Whites is to £6 7/6, and for Dakotas £6. Quotations to farmers are £5 for Whites and to £4 15/- for Dakotas. The July-September quotations are £7 10/- a ton, f.0.b., s.i., but an odd sale or two has been made at less than this figure. The Waipiata, which is lifting potatoes at the port today, also took some from Timaru. It is expected that her local potato consignment will approximate 4000 sacks. Notwithstanding the steady despatch of potatoes north this season, the total shipments from Lyttelton are not greatly in excess of what they were last year. To June, 1934, the total was 67,144 sacks, and to June 1 this year, 80,130 sacks. However, an allowance of practically 10 to 121 per cent, has to be made for the lighter weight of the sacks this season, which would bring the total despatches to about 4000 sacks more than last season. The Timaru figures are not available, but probably considerably more potatoes have gone north this year from that centre. A new factor in the position Las developed within the last few days: Potatoes have been offered from Bluff at £6 5/- for the June delivery and it is understood that 300 tons have been sold for the north. Dunedin is also reported to be quoting in small quantities. Oats are a shade stronger in the south, A grade Gartons being quoted at from 3/ 3to 3/4 a bushel f.0.b., s.i. There is no response in the local market. Chaff is not selling readily in Christchurch, at £3 5/- a ton on trucks. There is a shade firmer feeling in the market for partridge peas, although there is no change in quotations, which are 6/- a bushel on trucks. The surprise of the local market during the week was the reduction by the Wheat Purchase Board of the price of wheat for poultry purposes to the North Island from 4/4 to 4/1, f.0.b., s.e. Some merchants are holding fair stocks bought at the higher price operating previously for “free” wheat. FOREIGN EXCHANGES. ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales quoted the following rates for its purchases and sales on overseas currencies yesterday (all rates subjected to alteration without notice: — New Zealand. On Buying Selling

•Hong Kong rates nominal. MINING SHARES. (United Press Assn.—Telegraph Copyright.) London, June 6. Moun) Lyell shares are quoted at 6/10J. NEW GUINEA SHARES. (United Press Assn.—Telegraph Copyright.) London, June 6. Shares: New Guinea 4/6. DOLLAR AND FRANC. ■ . . (United Press Assn.—Telegraph Copyright.) London, June 6. The dollar is quoted at 4.95 J and the franc at 75i.

SYDNEY STOCK EXCHANGE. (United Press Assn.—Telegraph Copyright.) (Rec. 8.5 p.m.) Sydney, June 7. On the Stock Exchange to-day there -was a brighter tone than earlier in the week, but prices moved within narrow limits. The gilt-edged section was more active. Sales:—

AUSTRALIAN MARKETS. (United Press Assn.—Telegraph Copyright.) Melbourne, June 7. Wheat.—3/2| per bushel. Flour.—£9 2/6 per ton. Bran.—£4 15/- per ton. Pollard. —£5 per ton. Oats.—2/4 to 2/51 per bushel. Barley.—English, 2/7 to 3/- per bushel. Maize.—4/11 to 5/- per bushel. Potatoes.—£6 to £6 10/- per ton. Onions.—£7 5/- to £8 per ton. LONDON MARKETS. BUTTER FIRM BUT CHEESE SLOW. (United Press Assn.—Telegraph Copyright.) London, June 6. Sugar.—4/10. Butter. —Firm.' Danish 98/-. Choicest salted New Zealand 83/-. Australian 82/-. Unsalted —about one shilling less. Cheese.—Slovz. New Zealand, white 43/-, 43/6; coloured 43/6, 44/-; Australian, both 41/6, 42/-. The Bradford tops market is quiet. Seventies , 29d; 64’s, 27Jd; 60’s, 26d; 56’s, 181 d; 50’s, 14d; 46’s, lid; 40’s, lOd.

London— £N.Z. to £100stg. T.T. 124 124/10/O.D. 123/10/ 124/8/9 Australia— 100/10/£A to £100 N.Z. T.T. 101 O.D. 101 100/10/Fiji— £F to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— 3.961 Dollars to £1 N.Z. T.T. 4.00? O.D. 4.01? 3.96J Montreal— 3.96J Dollars to £1 N.Z. T.T. 4.001 O.D. 4.011 3.97 France— 59.82 S Francs to £1 N.Z. T.T. 61.12 O.D. 61.42 59.67 Noumea — 59.07 Francs to £1 N.Z. T.T. 62.07 O.D. 62.47 59.12 Papeete— 59.07 Francs to £1 N.Z. T.T. 62.07 O.D. 62.47 59.12 Belgium— 23.131 Belgas to £1 N.Z. T.T. — O.D. — 23.146 Germany- ■ • Reichmarks to £1 9.626 N.Z. T.T. — O.D. — 9.631 Italy— . Lire to £1 N.Z. T.T. — 47.51 O.D. — 47.55 Switzerland — 12.033 Francs to £1 N.Z. T.T. 12.433 O.D. 12.508 12.043 Holland— 5.772 Florins to £1 N.Z. T.T. 6.022 O.D. 6.072 5.776 Java — Florins to £1 N.Z. T.T. 5.079 5.754 O.D. 6.029 5.758 Japan— N.Z. pence to 1 17 13-16 yen T.T. - O.D. — •—• Shanghai— N.Z. pence to 1 24 23-32 dollar T.T. 23 13-32 O.D. 23 9-32 24 21-32 India and Ceylon— N.Z. pence to 1 22 23-32 rupee T.T. 22 3-8 O.D. 22 1-4 22 21-32 Hong Kong— N.Z. pence to 1 *35 11-32 dollar T.T. *34 9-32 O.D. *34 5-32 *35 9-32 Singapore— > N.Z. pence to 1 35 7-32 dollar T.T. 34 9-32 O.D. 34 5-32 35 5-32 Sweden— 15.458 Kroner to £1 N.Z. T.T. 15.788 O.D. 15.828 15.468 Norway— 15.870 Kroner to £1 N.Z. T.T. 16.200 O.D. 16.240 15.880 Denmark— Kroner to £1 N.Z. T.T. 18.208 17.878 O.D. 18.248 17.888 Austria— Schillings to £1 20.52 N.Z. T.T. — O.D. — 20.54 Czechoslovakia — 93.81 Crowns to £1 N.Z. T.T. — O.D. — 93.86

£ s d Colonial Sugar 41 17 6 Australian Provincial Assurance 1 1 9 Newcastle Gas (B) 14 0 Huddart Parker 1 18 0 Australian Gas (B) 8 2 0 British Tobacco 1 18 n Goldsbrough Mort 1 10 ii Wilcox Mofflin 10 10 Tooth's 2 12 9 General Industries 17 10J Morris Hedstrom 1 0 0 Henry Jones 1 16 3 Anthony Hordern 18 6 Mt. Morgan 1 15 10J Broken Hill Pty. 2 17 0 South Broken Hill 4 9 0 Placer Development 28 3 0 Melbourne Sales. Commercial Bank of Australia 15 1 British Tobacco 1 18 9 Australian Glass 3 9 0 Australian Iron and Steel (pref.) 1 2 3 Howard Smith, 14 9