COMMERCIAL

Southland Times, Issue 25313, 17 June 1935, Page 2

COMMERCIAL

INVERCARGILL STOCK. EXCHANGE. "• SATURDAY’S CALLOVER. At a meeting of the Invercargill Stock Exchange on Saturday the following prices were recorded: — Government Debentures,

Shepherd; fourth, Mr J. Caskie; fifth, Mr J. Priestly; sixth, Mr M. Coffee; seventh. Mr L. R. Simpson; chief refrigerating engineer, Mr S. F. Parrott; second, Mr R. W. Pover; electrician. Mr G. Graves; steward-in-charge Mr R, Swift. Captain W. Thompson is in command of the Shaw. Savlll steamer Otira. Captain E. T. Grayston, late of the Waimana, is now in command of the Shaw, Sivill steamer Pakeha. THE OLD TRADE. I used to go a bit to'sea. But my Jad, Tom. he sails afar. His last note ran: "Just passed, a-lee. The shining isles of Nicobar." Of many things each letter tells, Of groves where purple creepers hang. Here's one that starts: “Night watch, six bells. The steamer Eastern Star, Penang.” He writes of folk all golden-brown, Of jungle swamps and feverish death; His letters come from Shanghai Town, Batavia, Port Elizabeth. My lad has roved the oceans round, From North Cape down to Singapore; He writes of far-off Melville Sound, Of sealing off Kamchatka’s shore. And yet from places Jost and strange. His letters come through calm or fret To Holly Cottage, near the Grange, Great Merryhampton, Somerset. —Greta Briggs. WITHIN WIRELESS RANGE, ' The following vessels were expected to be within range of the undermentioned wireless stations during the week-end:— Auckland; Canadian Scottish, Mernoo, Abel Tasman. Birchbank. H.M.S. Dunedin. Golden Bear, Kalranga, H.M.S. Leith, Mariposa, Napier Star, O. B. Sorensen, Pakeha, Waipahi. Wellington: Akaroa, Maori. Monowai, Port Gisborne, Fort Whangarei. Rangatira, Coptic, Durham, Mataroa, Monterey, Nucula, Otira, Port Darwin, Rangatira, Remuera, Tamahlne. Awarua: Rotorua, Aldington Court, Alfie Cam, Balaclava, Canadian Cruiser, Golden Cloud, Kaimiro, Kalingo, Karetu, Makura, Maunganui, Waikouaiti. Wanganella, Westmoreland, Monowai. Chatham Islands: South Sea. TELEGRAPHED REPORTS. ' COASTAL AND OVERSEAS. (United Press Assn.—Telegraph Copyright.) Auckland, June 16. Arrived (Saturday): Canadian Scottish 7 p.m. from Halifax. Sailed (Saturday): Waipahi 12.20 p.m. for Suva; Birchbank 4,10 p.m. for Suva; Mernoo 6.15 p.m. for Wellington. Arrived (Sunday): O. B. Sorensen 7.15 a.m. from San Francisco; Kairanga 8 p.m. from Sydney. Wellington, June 15. Arrived (Saturday): Arahura 5 a.m. from Nelson, Holmdale 6.20 a.m. from Wanganui; Wainui 6.30 am. from Lyttelton; Maori 7 a.m. from Lyttelton; Paua' 7.15 a.m. from New Plymouth; Orepuki 7.20 a.m. from Lyttelton; Talisman 11.40 a.m. from Onakaka; Tamahine 12.45 p.m. from Picton;. Port Whangarei 1 p.m. from Lyttelton; Inaha 9.50 p.m. from Patea. Arrived (Sunday): Echo 2.40 a.m. from Blenheim; Rangatira 7.20 a.m. from Lyttelton; Kartigi 7.40 a.m. from Greymouth;, Kapuni 10.20 a.m. from Patea; Poolto 11,45 a.m. from Westport; Kohi 12.5 p.m. from Onakaka; Kaitoa 12.40 p.m. from Nelson; Kaimai 1.30 p.m. from New Plymouth; Kiwitea 2.10 p.m. from Greymouth; Totara,4.lo p.m. from Greymouth. Sailed (Saturday): Parera 12.25 p.m. for Dunedin; Otira 1.10 p.m. for Auckland; Orepuki 3.5 p.m.' for Wanganui; Port Gisborne 4 p.m, for Timaru; Holmdale 5.10 p.m. for Dunedin; Kakariki 5.15 p.m. for Greymouth; Pakura 6.15 p.m. for Napier; Wainui 6.25 p.m. for Napier; Maori 7.45 p.m. for Lyttelton; Arahura 10,5 p.m. from Nelson. Lyttelton, June 16. Arrived (Saturday): Rangatira 6.45 a.m. from Wellington; Breeze . 9.30 a.m. from Wellington. Arrived (Sunday): Maori 6.55 a.m. from Wellington; Storm 8 a.m. from Timaru. To arrive: Foxton from Foxton; Kapiti fror.i Wanganui. Sailed (Saturday): Durham 11.55 a.m. for New Plymouth; Rotorua 2.25 pm. for Port Chalmers; Akaroa 4.20 pm. for Picton; Rangatira 8.20 p.m. for Wellington; Breeze 11.5 p.m. for Dunedin. Dunedin, June 16. Arrived (Saturday): Waimarino 6 a.m. from Bluff; Cambridge 9 a.m. from Lyttelton, • Sailed (Saturday): Westmoreland 7 a.m. for Timaru; Aldington Court 9.25 a.m. t for Sydney, Arrived (Sunday); Rotorua 9.15 a.m. from Lyttelton. To arrive: Breeze from Lyttelton. London, June 14. Arrivecf—At London, Tongariro; at Cristobal, Rangitiki; at Balboa, Mataroa. Sailed.—Canadian Challenger from, Sydney; Tamaroa from •London; New Zealand from Los Angeles. (Rec. 6.30 p.m.) London, June 15 Arrived: From Vancouver, Aorangi, Sailed: From Dakar, Port Fairy. Sydney, June 15. Arrived.—Niagara (at 6.45 a.m.) from Auckland; Melbourne Maru from Auckland. (Rec. 630 p.m,) Sydney, June 16. Sailed: Wanganella 3.30 p.m. for Auckland.

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, June 16, Sales on ’Change: Bank of Australasia £ll 1/-; Auckland Gas (15/- paid) 20/1; National Timber 13/-; British Tobacco 38/9; Electrolytic Zinc 26/4s; Sun Newspaper 8/-; Mohaki 1/5; Waihi 37/6. Unofficial: Woolworths (Sydney) 90/-. Wellington, June 16. Sales on ’Change: Stock, 4 per cent., 1943-1946, £lOB 5/-; English, Scottish and Australian Bank £5 2/-; National Bank of Australasia (£5 paid) £6 4/3, £6 5/-; Taupo-Totara Timber £1; Taupo-Totara Timber (pref.) 19/2J; New Zealand Breweries (cum. div.) 52/4; British Tobacco (cum. div.) 38/9, 38/10J; Woolworths (New Zealand) £ll 7/- (all late Friday). Unlisted sale on ’Change: Woolworths 90/-, 90/7J. / Christchurch, June 15. Sales on ’Change: Gisborne Sheepfarmers, 6| per cent., 1941, £lO2, 5/-: Commercial Bank of Australia 15/5; National Bank of Australasia (£5 paid) £6 4/6; Reserve Bank of New Zealand £6 9/9; Goldsbrough Mort (cum. div.) 29/4; Australian Iron and Steel (pref.) 22/9 (2); Sun Newspapers 8/2, 8/3 (4), 8/4 (3), 8/5 (3), 8/4; Whitcombe and Tombes 80/6 (2); Mahakipawa 7|d.; Nokomai 1/4.. Sales reported: Dalgety and Company £8 3/6, Timaru Brewery 11/9; Woolworths, New Zealand (ord.) £ll 6/-; Sun Newspapers 8/3 (2). Dunedin, June 15. Sales reported: Commercial Bank of Australia (pref.) £9 10/-; English, Scottish and Australian Bank £5 2/-; National Bank of Australia (contr.) £6 5/-; Skippers 2Jd; (all late Friday); Bank of New Zealand (cum div.) £2 10/- (2).

LOCAL MARKETS THE RIALTO. William Todd and Co., Ltd*, report the following sales for the week ending June — Pigs.—Poor demand. Very low prices have to be accepted to make salds. Poultry.—Hens 1/- to 2/-; heavy breeds 2/6 to 3/-; Minorca hens 1/5 to 2/5; Black Orpington pullets 3/7 to 4/1; W.L. pullets 2/1 to 4/1; geese 2/6 to 3/4; ducks 1/4 to 1/8; turkeys 5/9 to 6/9. Dairy Cow.—£6. Ferrets.—Over-supply 2/- to 3/- each. Rabbit traps 23/- dozen: pegs 1/6. Nets 6/-; large nets 10/- dozen. Produce.—Table potatoes., Steady demand. First grade King Edwards £6; chaff, prime £4 15/-; hay £4; straw £3; oats 12/- to 13/6; barley 16/-; wheat 17/6 to 19/-; pollard 8/6; bran 7/-; farra food 14/6; barley pollard 11/6; Moose meal 16/1; Moose nuts 15/-; meat meal 11/-; liver meal 11/-; boneflour 14/-; molasses 13/6; oyster shell grit 6/- cwt. Miscellaneous: Barb wire 27/6; No. 8 galvanized 19/6; fowl netting 13/6; rabbit netting 21/-; sheep netting 21/-; wheelbarrows 25/-; kauri washtubs 55/-; portable boilers 65/-; plunge baths 65/-; tanks 47/6; timber 12/- to 14/100; . dressed timber 23/- to 26/-; stakes 25/- 100; droppers 12/-; horse covers 26/-; cow covers 8/6; horse collars 35/-; winkers 18/-; bridles 10/-; plough chains 5/6; harness 13/6; Donald’s wire strainers 20/-. Vegetables: Cabbage 2/- to 3/dozen; cauliflower 3/6; carrots, parsnips, beetroot Id lb. Hedge Trees: White Escallonia, Red Escallonia, Olearia, Macrocarpa, Pinus Insignus 25/*; ornamental shrubs 3/-; apple trees 3/- each. V EXCHANGE MART. s Messrs D. W. McKay Ltd., Exchange Mart, Invercargill, report as follows:— Fruit and' Produce: Supplies of fruit during the week was exceptionally heavy there being over 1000 cases. A few hothouse tomatoes are still available. In apples we'had Romes, Ballarats, Cleos, Wolselys, Rymers, Democrats, Statesmen, Jonathans and Delicious, Adams, Scarlets; pears, Winter Nellis; ' N.Z. and Californian lemons; Californian oranges and grapefruit. Dessert apples 4/- to 6/6, according to grade; cookers 4/- to 5/6; pears, best to 4/- box, 7/- case; others 2/- to 3/-; oranges 42/-; N.Z. lemons 12/- to 14/-; 36/-; Poormans 10/- to 12/6; cauliflower in better supply to 6/-; cabbage to 3/6; marrows, pumpkins and melons 3/- to 4/-; carrots and parsnips 3/- to 4/-: swedes 2/6; prime salt muttonbirds, kits 12 to 25 7Jd; table potatoes 6/- to 7/-; honey, 3/9 to 5/9. Used furniture jn superior lines and condition. Builders’ lines also ’in sashes, iron, doors, shelves, counters; also a good range of new furniture in our showroom; also mattresses, pillows and blankets.

BRAY BROS. Messrs Bray Bros., Ltd., report auction prices aa follows:—Apples, dessert, 3/6 to 6/6; cooking 2/6 to 4/6; coconuts 10/- sack; lemons (N.Z.) 10/to 15/-; marmalade oranges 10/- to 15/-; pears 2/6 to 3/6 box and 5/6 to 7/6 case; beetroot 3d lb; cabbage 1/to 3/6 dozen; carrots to Id lb; celery 1/- to 3/6 dozen; cauliflower 1/6 to 5/dozen; lettuce 1/- to 2/- dozen; marrows Id lb; melons Id lb; onions 16/-; parsnips Id lb; potatoes 5/6 to 8/- sack; pumpkins to ljd lb; Champion egg crates (24 dozen) 18/6. Businesses for sale in town and country. Fruit-confectionery in main street, with living rooms £lOO cheap rental. \ ■ i FOREIGN EXCHANGES. (British Official Wireless). (Rec. 5-5 p.m.) Rugby, June 14, The following mean closing rates of foreign exchanges were quoted to-day compared with par:— Par: To-day.

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales quoted the following rates for its purchases ana sales on overseas currencies yesterday (all rates subjected to alteration without notice:— New Zealand On Buying Selling London—£N.Z. to XlOOstg. T.T. 124 124/10/O.D. 123/10/- 124/S/9 Australia—

MEAT PRICES. Henry S. Fitter and Sons, Ltd., Central Markets, London advised their New Zealand agent on June 13 that meat

Argentine. Lambs 5 6 Lambs.—The market is weaker for second quality; first grades remain firm. Wethers—The market is dull, and there is little business doing. Ewes—The market is weaker for light weights; heavy weights remain steady. Beef.—Weaker values ruling owing to a lack of demand. Pork.—The market is dull. Trade is affected by the holidays. HIDES MARKET. (United Press Assn— Telegraph Copyright.) (Rec. 6,30 p.m.) London, June 15. Quotations for hides are as follows:— Meat Works (dry-salted): Queensland, 351 b to 451 b, 5 5-8 d; 301 b to 401 b, 5 3-8 d; 251 b to 351 b, 5 l-8d; 201 b to 301 b, 5 l-Bd. New South Wales, 351 b to 451 b, sid; 301 b to 401 b, 53d; 251 b to 351 b, 5Jd; 201 b to 301 b, SH. Meat Works (wet-salted): Queensland, 501 b to 601 b, 4d; 401 b to 501 b, 33d. New South Wales, 501 b to 601 b, 4ld; 401 b to 501 b, 4|d. Victorian abattoirs, 501 b to 601 b, 4d; 401 b to 501 b, 3fd. BUTTER OUTLOOK. PRICE RISE EXPECTED. FAVOURABLE PROSPECTS. Prospects are favourable for a satisfactory rise in London prices for butter during July, August, and September, according to private messages received in Auckland, says the Herald. Present quotations are about 83/- to 84/- par cwt, the market being firm, with a rising tendency. After a quiet period, forward buyers again entered the market towards the end of the week ended June 8. Small parcels changed hands last week about IOJd per lb., f.o.b;, which is equal to 90/- per cwt., London. Advances against consignment in June were fixed at 7?d per lb for butter and 4d for cheese. The rate for cheese is unchanged, but for butter the rate is Id

per lb higher than for May, and Jd higher than for June, 1934. It is Usual to expect a rise in London prices during the autumn months there, as colonial supplies are short and Continental supplies begin 'to decline. However, last year the London market was flooded with Continental butter, which had been forced out of the German market, and the seasonal rise was of short duration. The top price reaches for 83/- per cwt. about the second week in August, Unless there are unforseen circumstances prices this year will be substantially higher. The stock position in London this year is very sound., and is more favourable than in the last two years. A comparison of stocks of New Zealand butter at the end of the last five weeks with those of previous seasons is as follows:— 1

The quantities to be shipped from New Zealand and Australia in the next few months will not be heavy. After a favourable dairying season the output in Australia, particularly in New South Wales and Victoria, is now declining rapidly. The restriction on exports of butter was lifted by the Australian Dairy Board on Saturday. The export of butter from New Zealand is expected to be about 4 per cent, to 5 per cent, lower for the season. The output in the Northern Hemisphere will be one of the deciding factors in the course of market prices. Reports indicate that production is somewhat lighter than last year. GOLD, DOLLAiFaND THE FRANC. (United Press Assn.—Telegraph Copyright.) London, June 14. Gold.—£7 0/8 per oz. The dollar is quoted at 4.94 5-16, and the franc at 74 15-16 to the £ sterling. BRITISH TREASURY BILLS. (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, June 14. The total amount applied for in tenders for £40,000,000 treasury bills was £47,865,000, The maximurn amount was allotted in bills at three months. The average rate per cent, was 13/10.46 compared with 11/2,49 a week . ago. WOOL TRADE. BRADFORD MARKET. RAW MATERIAL POSITION. Bradford, May 10. The pace has continued to be set by the raw material market during the past fortnight. Competition in the primary markets, and particularly Australia, has been so. keen that values have risen faster than has been to the liking of users. Topmakers have had to follow, and spinners have endeavoured to do likewise, but without full success. This week the London wool sales opened with modest supplies of merino combing wools, but adequate supplies of crossbred wools. Compared with the closing rates of the last series on March 26, merinos were about 121 per cent, dearer, fine crossbreds 10 per cent, and medium and coarse crossbreds 7A per cent dearer. These opening rates have been at least fully maintained so far. The confirmation of the rise in Australia resulted in a further protective rise in the price of tops. German Requirements. Fine wool is now at its highest point since last August. Compared with the bottom point this year, merino tops are about 4d per lb dearer. This looks a substantial rise, but as a matter of fact compared with last October the advance is only 2d. In November, December, and January there were temporary causes which tended to depress the market, notably the German position. It is clear that even if Germany does not buy up to her normal requirements, she still wants a substantial quantity of wool, and the settlement of old debts for tops and yarns has also helped matters. In other words, the market at that period was unduly depressed. There has also been leeway to make up by importers*who bought sparingly in the earlier part of the season, and are now tumbling over themselves to ensure an adequate supply of wool during the close season when the primary markets are practically out of operation. This concentrated demand has forced up values rather fast, and there is a certain amount of nervousness on the part of users. Nobody can say that current values are high, but a rapid advance always creates problems for the time being. Quotations, for yarn, for instance, vary as much as 2d and 3d per lb between one firm and another, according to whether a spinner has chejip contracts for tops not yet earmarked, or has to rely on new purchases to cover current sales. It is generally the case, however, that an improvement in trade follows rather than precedes a rise in values. If the present advance can be broadly held—and at the moment the rise does not appear to have reached its limit—it should help to bring out business later on. There is no doubt, too, that armament scares are tending to cause an increased demand for wool for military clothing, and that the possibility of France going off gold is giving a fillip. Position of Crossbreds. Crossbreds are in rather a different position from merinos. Fine sorts have benefited from the rise in merinos, and in fact 50’s and upwards have been the qualities mainly in demand during the past week or two, Medium and coarse carded wools and tops are comparatively plentiful, and the modest rise that has taken place has been mainly sentimental. Coarse prepared crossbreds, the wool for which comes mainly from America, ought to be dearer than they are on replacement costs, but Bradford topmakers are well bought at reasonable prices. The latest returns of unemployment in the West Riding, which cover the position up to April 15, show that in the six principal West Riding towns the total number of unemployed was 13,711, compared with 14,889 in March and 15,103 a year ago. The drop compared with March is seasonal. The worsted section continues to show the best record, the woollen industry being depressed by comparison. This, of course, is a normal feature when values are low. The only disappointing section in the worsted industry is the fine men’s wear trade of Huddersfield. At Bradford, which is maiply a dress goods and coatings centre, there were only 151 workers unemployed (wholly or partially) at April 15, whereas at Huddersfield there were 512. Stocks Light. A significant feature of the situation —the lightness of stbeks of raw material in Europe—is reflected in the returns of stocks of tops at the commission combing -establishments in Germany, France, Italy, and Belgium. At the end of April stocks of merino tops were just over 11,000,060 kilos, compared with 13,500,000 kilos a year ago and an average of 14,500,000 kilos for the five years 1930 to 1934 inclusive. Stocks of cross-bred tops at the end of April were 13,750,000 kilo;?, compared with 15,500,000 kilos a year ago and an average of, 12,500,000 kilos for the five years. These returns do not include all the stocks, but are sufficiently comprehensive to be a reliable guide. No such figures are available for this country, but it is evident from other returns that stocks of wool in this country are substantially less than a year ago.

The following is our usual table of quotations for tops at Bradford:—

PRICE OF GOLD. (United Press Assn.-Telegraph Copyright.) (Rec. 6.30 p.rn.) London, June 15. The price of gold is £7 0/9 an ounce. MINING REPORTS. MAORI GULLY RETURN. (Per United Press Association.). Greymouth, June 15. The Maori Gully return was 330 z ,2dwts 16 grains for 122 hours. CHARLESTON RETURN. (Per United Press Association.) Westport, June 15. The Charleston return for the fortnight ending to-day was 18oz lOdwts sgrs for 22 shifts of nine hours. WAIHI OPERATIONS. PROMISING DEVELOPMENT WORK. A reference to the development work being carried out in the north-western portion of the Waihi mine was made in the annual report of the Waihi Gold Mining Company, Ltd., under date May 2. The report stated:— “Exploration work on the north branch of the Martha lode westward from No. 2 shaft is being continued on five levels. Although the development work in this section has not up to the present disclosed any large body of ore the results obtained are sufficiently promising to warrant further extensive investigation.” Reviewing the subsequent progress, Mr R. G. Milligan, the company’s attorney in New Zealand said that work was proceeding on levels 5,6, and 7, and although no extensive ore body had yet been disclosed, the ore had been for the most part of good grade. Some of the ore from this section had been used for the sweetening of the lowgrade ore mentioned in the chairman’s address at the annual meeting in London. “What we have disclosed in this section of the mine certainly warrants further expenditure,” said Mr Milligan. “There is considerable scope in the area as the north-west section is practically virgin country. Apart from surface workings no work has previously been done in the section.” ALLUVIAL GOLD, LIMITED. Owing to the increased activities of the company, the directors of Alluvial Gold Ltd., an Australian proprietary company, propose that the nominal capital, which is £50,000 in £1 shares, of which 20,000 have been issued, should be increased to £lOO,OOO by the creation of a further 50,000 shares of £1 each, and that these shares, together with the 30,000 at present unissued, be offered to shareholders at par in proportion to their holdings. They propose to make an immediate issue of 60,000 shares at par, asking shareholders to subscribe for three shares for every one held. V The company, the directors explain, has purchased an area at Kanieri, Westland, New Zealand, which has been thoroughly examined during the last 12 months, and proved to contain 54,000,000 cubic yards of dredgable land with an average content of 9.3 d a cubic yard, with gold at £6 (N.Z.) an ounce. Plans for the necessary dredge are being prepared, and estimates of the cost of the plant obtained in order to determine the amount of capital necessary to develop the property. Shareholders will latei' be asked to subscribe the greater proportion of the capital in the operating company. Encouraging results are being obtained from two other areas in the same’ locality, and it is anticipated that at least another property of similar value and yardage will be acquired. Further boring which it is believed will be completed before the end of July, is necessary before a definite statement of yardage and values can be made. Many 1 other properties are being examined in Australia, New Zealand and elsewhere.

MINING REPORTS. MOSSY CREEK DREDGE. (Per United Press Ajsociation?) Greymouth, June 16/ The mining return from the Mossy Creek Dredge was 270 z Idwt from 12,488 yards o£ material. WORKSOP EXTENDED. (Per United Press Association.) Greymouth, June 16. The return from the Worksop Extended dredge was 370 z 6dwt for 124 hours’ work, obtained from 6400 yards of material. MAORI GULLY. ' (Per United Press Association.) Greymouth, June 16. The Maori Gully- dredge return was 330 z 2dwt 16gr for 122 hours’ work. BENDIGO GOLDLIGHT DREDGE. The secretaries of the Bendigo Goldlight Dredging Company, Ltd. (Central Otago) report as follows on the company’s dredging operations to date:— Until the end of last week the dredge was operating only one or two shifts daily while enlarging and deepening the original dredge pond. This was necessary in order to give ample room to swing the dredge once dredging started on the actual dredging face. During last week the dredge was swung on to the new face, and at the weekend the 20ft level had been reached along this face. The dredge master states that from the beginning of the present week three shifts will be worked so that better progress will be made, and the wash level should be reached next week. The dredge master reports that the dredge is running very satisfactorily. FROZEN MEAT. (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 p.m.) London, June 15. Frozen meat quotations are as follows. with prices for the previous fortnight also shown:— June 1. June 15. d. d. N.Z. Sheep— ' Canterbury and North Island selected crossbred wethers

FRUIT REPORT. APPLES AND PEARS; LONDON MARKETS. (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 pan.) London, June IJ>Apples are in good demand, quotations being as follows:— New Zealand.—Stunners, 10/ T to 11/6; Cleopatras, 10/6 to 11/-; Dunns, 10/6 to 11/-; Delicious, 11/- to 12/-; Granny Smith, 11/- to 13/6. Australian.—Sturmers, 9/- to 10/-; Jonathans, 9/- to 13/-; Cleopatras, 10/6 to 11/-; Granny Smith, 12/- to 14/-. Pears. Pears are selling readily in London, quotations being as follows:— Australian.—Josephines, 10/3 to 12/9 a box.

DAIRY PRODUCE PRICES,. (Per United Press Association.) Wellington, June 15. The Dairy Board has -fixed the minimum prices of dairy produce on the basis of butter 10 3-Bd, cheese sd, equivalent to 84/5 and 44/- per cwt respectively c.i.f.e. The South Island Dairy Association of New Zealand, Ltd., report having received the following advice from the New Zealand Producers’ Co-op Marketing Association under date June 15:— Butter: Firm. New Zealand, 85/- to 86/-; Danish 101/-. Cheese: Steady. Both colours 44/-. RAW MATERIALS. (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 p.m.) London, June 15. Friday’s closing prices for raw materials, with those of last week in parentheses, were as follows: — Cotton. —Spot, 6.76 d a lb (6.92 d July delivery, 6.23 d (6.36 d Rubber. —Para, 5d a lb (4gd); plantation smoked 6 l-16d (sgd). Jute.—June-July delivery, £2O 2/6 a ton (£2O). Capro.—June-July delivery (South Seas) £ll 10/- a ton (£ll 10/-); smoked, £ll 10/- (£ll 10/-); plantation Rabaul, £l2 2/6 (£l2 2/6). Linseed 0i1.—£23 5/- a ton (£23 15/-). Turpentine.—44/6 a cwt (51/9). METAL QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 p.m.) London, June 14. Quotations for metals are as follows: June 13. June 14.

Stock, 3& p.c., 1938-43 » • Stock, 3J .p.c., Buyers. . Sellers. ■ & s d & s d 0 105 0 1938-52 ' Stock, 3| p.c., 106 10 0 — 1939-43 Stock, 3J p.c., 105 0 0 1939-52 106 10 0 —— Stock, 4 p.c., 1940 102 10 0 1 " * Bonds, 4 p.c., 1940 102 10 0 —— Stock, 4 p.c., 1940 107 10 0 Bonds, 4 p.c., 1946 107 10 0 I"" Stock, 4 p.c., 1949 108 0 0 ■ Bonds, 4 p.c., 1949 108 0 0 Stock, 4 p.c., 1955 110 0 0 " Bonds, 4 p.c., 1955 110 0 Banks. 0

Australasia II ■ — 11 7 6 Commercial 0 15 0 0 15 5 Commercial, pref. 4 p.c., (cum.) —I— , 9 12 6 Commercial of Sydney ■ ■■■■■Ig» 18 0 0 National of Australasia 6 0 0 I. - - National of N.Z. 3 7 0 New Zealand (ex div.) 2 10 0 — Reserve Bank of New Zealand —■ 6 10 6 Union of Australia — 9 3 6 Breweries. Dunedin Brewery Co. 1 9 0 ■ ■'■.■■■■I 1 N.Z. Breweries (shares) - 2 13 6 Timaru Brewery 0 8 1 0 8 9 Coal. Kaitangata — 1 1 0 Westport Coal 1 0 9 — Insurance. National — 1 1 0 Loan and Agency. Goldsbrough, Mort and Co. 1 9 0 Southland Farmers Co-op. (deb. pref.) 4 5 0 ■ Wright, Stephenson and Co. (pref.) 19 3 19 9 Meat Companies. N.Z. Refrigerating (20/- paid) -—I.,.1 0 2 (10/- paid) — 0 9 0

Southland Frozen Meat (£1 ord.) ' — (£1 pref.) — South Otago Freez- . 0 3 16 3 16 6 6 ing Co. 6 13 - ' - ■ Shipping. Union Steam Ship Co. (pref.) ■ *1- 7 0 • Miscellaneous. Australian Glass 3 V 6 British Tobacco (Aust.) , 1 19 0 Colonial Sugar Co. 42 0 0 Dominion Fertilizer 1 1 0 ■'" 1,1 — " Dominion Rubber Co. 1 10 0 Donaghy’s Rope and Twine 2 11 0 Dunlop Rubber (Aust.) 0 16 7 N.Z. Drug 4 2 0 111 N.Z. Guarantee Corporation 0 5 6 • 1 N.Z. Paper Mills 1 14 0 1 15 0 Wilson’s (N.Z.) Portland Cement 1 17 3 —-— Woolworths (Sydney) 4 11 0 Mining. Bendigo Gold:* light _ 10J 111 Broken Hill 2 17 0 Big River 0 2 3 Electrolytic Zinc (ord.) 1 7 0 (pref.) 1 14 9 ■•■■ 11 ■■■'■■II Gillespie’s Beach 0 1 6| Kildare 0 3 0 0 3 5 King Solomon ( ) 3 9 0 4 0 Moonlight Nelson ■' 1 1 Mount Lyell 1 0 0 Mt. Morgan —— 1 17 0 Nevis Diesel 2 Nokomai 0 2 6 Ok&rito 0 5 3 0 6 3 Skippers 0 0 2 Waihi Gold Mining — 1 18 0

Paris, fr. to S, 124.21 74 15-16 New York, dol. to £ 4.866 4.94 Montreal, dol. to £ 4.866 4.95 Brussels, belgas to £ 35 29.22 Geneva, fr. to £ 25.221 15.20 Amsterdam ; fl. to £ 12.107 7.30| Milan, lira to £ 20.43 60 Berlin, rmk. to £ 20.43 12.274 Stockholm, kr. to £ 18.159 19.394 Copenhagen, kr. to £ 18.159 23.394 Oslo, kr. to £ 19.159 19.904 Vienna, schgs. to £ 34.585 264 Prague, kr. to £ 164.25 118 5-16 Helsingsfors, m. to £ 193.23 227 Madrid, pesetas to £ 25.2215 36 1-8 Lisbon, escudos to £ 110 110 1-8 Athens, dr. to £ 875 515 Bucharest, lei to £ 818.6 4874 Belgrade, dinars 276.31 218 Rio de Janeiro, p. to jnilreis 8.892 44 Buenos Aires, p. to dol. 45.577 15 Montevideo, p. to,dol. 57 394 Bombay, pence to rupee 19 18 1-8 Shanghai, pence to dol.—— 19 7-8 Hong Kong, p. to dol. - 28 5-16 Yokohama, p. to yen. 24.57 14 1-8 Batavia — "■ 7.264

£A to £100 N.Z. T.T. 101 101 100/10/O.D. Fiji— £F to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— Dollars to £1 N.Z. T.T. 4.00 3.95 7-8 O.D. 4.0114 3 96 3-8 Montreal— Dollars to £1 N.Z. T.T. 4.00U 3.9614 O.D. 4.01’/a 3.97 France— Francs to £1 N.Z. T.T. 60.83 59.58 O.D. 61.18 59.63 Noumea— Francs to £1 N.Z. T.T. 61.83 58.83 O.D. 62.23 58.88 | Papeete— Francs to £1 N.Z. T.T. 61.83 58.83 O.D. 62.2,1 58.88 Belgium— Belgas to £1 N.Z. T.T. —— 23.159 O.D. 23.174 Geimany— Reichmarks to £1 N.Z. T.T. 9.658 O.D. —— 9.663 Italy— Lire to £1 N.Z. . T.T. 47.48 O.D. 47.52 Switzerland— Francs to £1 N.Z. T.T. 12.401 12.001 O.D. 12.476 12.011 Holland— Florins to £1 N.Z. T.T. 6.002 5.752 O.D. 6.052 5.756 Java— Florins to £1 N.Z. T.T. 5.947 5.722 O.D. 5.997 5.726 Japan— N.Z. pence to 1 yen T.T. —<• 17 13/16 O.D. —— — Shanghai— N.Z. pence to 1 dollar T.T. 23 15-16 25 >4 O.D. 23 13-16 25 3-16 India and Ceylon— N.Z. pence to 1 rupee T.T. 22 3-8 22 23-32 O.D. 22 1-4 22 21-32 Hong Kong— N.Z. pence to 1 dollars T.T. 34 19-32 ; 35 21-32 O.D. 34 15-32 35 19-32 Singapore— N.Z. pence to 1 dollar T.T. 34 9-32 35 7-32 O.D. 34 5-32 35 5-32 Sweden— • Kroner to £1 N.Z. T.T. 15.790 15.460 O.D. 15.830 15.470 Norway— Kroner to £1 N.Z. T.T. 16.200 15.870 O.D. 16.240 15.880 Denmark— Kroner to £1 N.Z. T.T. 18.208 17.878 O.D. 18.248 17.888 AustriaSchillings to £1 N.Z. T.T. 20.43 O.D. — 20.45 Czechoslovakia— Crowns to £1 N.Z. T.T. 94.69 O.D. — 94.74

prices were as follows— d. d. N.Z. Lambs, Selected Downs, 2’s . t 7 71 Secondary Lambs, Selected Downs 6£ N.Z. Lambs, 2s. 63 7 N.Z. Lambs, 8s. 6J 7 N.Z. Lambs, 4s. 6| 6J Secondary Lambs 6 61 N.Z. Mutton, small 40 N.Z. Mutton, large 3 31 N.Z. Ewes, small 25 31 N.Z. Ewes, large l 2-1 • 23 N.Z. Beef, Ox Hinds (Frozen) 3J 33 N.Z. Beef Ox Fores (Frozen) 2§ 21 N.Z. Hinds (Chilled) 4J 45 N.Z. Beef, Fores (Chilled) ' 2t 3 Argentine Chilled Ox Hinds 4j 51 Argentine Chilled Ox Fores 3 31 N.Z. Pork 5 5| Australian Lambs 5 5| Australian Lambs, Superfine Quality 53 6

1933. 1934. 1935. Week ended. Tons. Tons. Tons. May 10 8,215 „ 10,481 6,540 May 17 7,580 9,291 7,095 7,880 May 24 9,400 10,791 May 31 9,100 11,417 7,611 June 7 9,226 12,134 6,824

May 9 Apr. 26 Apr. 12 Merino, 70's . 28 264 264 Merino, 64’s 27' 254 254 Super, 60’s 26 244* '244 Comeback, 58’s 2221 204 Crossbred, 56’s 19 18 174 Crossbred,, 50’s 144 14 134 Crossbred, 46’s ' 11 •104 .'104 Prepared, 40’s 9J 9i 9i Prepared, 32’s 94 9i 91

and maiden ewes: 48-561b ■ 4i 4 57-641b 31 3? 65-721b 31 31 Ewes: Under 481b 31 3} 48-641b 21 23 65-721b 2a 21 North Island: 48-561b 4i 4 57-641b 33 35 65-72Ib 3s 31 Australian Sheep— First quality crossbred and/or Merino wethers: 40-651b 3 3 Ewes: 30-501b 3J Second quality wethers: 30-501b 313 Ewes: 30-551b 31 3 Argentine Sheep— First quality crossbred wethers: 48-641b 3? 31 65-721b 3.1 31 Patagonian Sheep— Wethers and/or maiden ewes: Under 501b 35 31 50-601b 3} 31 Ewes: 40-501b — — Argentine Lambs— First quality: 361b and under 5.1 51 37-421b 5J 51 Second quality: Average about 281b 51 5i Patagonian Lambs— ?irst quality: 361b and under 52 51 37-421b 51 5 Second quality: Average about 281b 51 51 N.Z. Lambs— Canterbury, first quality: 361b and under 7 65 37-421b 7 61 43-50!b 65 62 Second quality: Average about 321b 6.1 6 Other South Island— 361b and under 7 65 37-421b 7 61 43-501b 6.1 63 Selected North Island, including Downs: 361b and under 7 7 37-421b 7 7 43-501b 61 6J Second quality: Average about 321b 61 61 Other North Island, first quality: 361b and under 61 61 63 37-421b 61 Second quality: Average about 321b 6} 6 Australian Lambs— Victorian, first qualify: 361b and under 51 51 37-421b 51 51 Second quality: 361b and under 5g 51 Other States: first quality: 361b and under 51 53 37-421b 51 51 53 Second quality: 361b arid under 5} All States; third quality: Average about 261b 51 53 N.Z. Frozen Beef— '■ Ox fores (i60-2201b) 3 25 Ox hinds (160-2201b) — 33 Australian Frozen BeefOx hinds (1601b and under) 41 31 Ox hinds (over 1601b) < 41 31 Ox crops (1001b and under) 31 31 Ox crops (over 1001b) 3g 31 Argentine Chilled Beef— Ox fores (160-220Ib) 31 3 Ox hinds (160-2201b) 5-1 41 N.Z. Pigs— , First quality i 60-801b 51 5} 81-1001b 52 51 101-1201N 51 51 Australian Pigs— First quality: 60-1001b (average about 801b) 5il 51 101-1201b 51 51

£ s ; d £ s d Copper—Standard spot 31 9 41 31 13 U Forward 31 15 71 31 10 0 Electrolytic 34 10 0 34 15 0 to 35 0 0 35 5 0 Wire Bars 35 0 0 35 5 0 American Lead— Spot 13 6 3 13 16 3 Forward 13 6 3 13 16 3 Spelter— Spot 13 16 3 13 16 3 Forward 14 0 0 13 16 3 Tin— Spot 226 7 6 226 17 6 Forward 220 12 6 220 17 6 Silver— Fine, per oz 32 13-16d 32 13-16d Standard, per ' oz. 35 7-16d 35 716d June • 1. June 14. £ s d £ s d Pig Iron— Home trade 3 7 6 3 7 6 Export trade 3 2 6 3 2 6 Antimony— British 76 10 0 76 10 0 Foreign 49 10 0 47 5 0 Molybdenite 1 14 6 1 14 6 Wolfram 1 10 0 1 10 3