COMMERCIAL

Southland Times, Issue 25360, 12 August 1935, Page 2

COMMERCIAL

THE SHARE MARKET. INVERCARGILL STOCK EXCHANGE. TONE OF MINING SECTION DEPRESSED. Although the tone of the mining market is rather depressed, shares in the other sections of the stock market remained steady to firm at Saturday’s call-over on the Invercargill Stock Exchange. A sale of 1940 four per cent, stock at £lO2 2/6 was reported. Prices were quoted as follows:— Government Debentures. Buyers. Sellers. £sd £ s d

Mining.

NORTHERN EXCHANGES. (Per United Press Association.) Auckland, August 11. Sales on ’Change: Stock, 1938-1952, 31 per cent., £lOB 15/-; Commercial Bank of Australia 17/6; English, Scottish and Australian Bank £5 10/-, £5 10/6; Reserve Bank of New Zealand £6 9/9; South British Insurance 96/6; British Tobacco 40/4; Broken Hill Proprietary 66/-; Colonial Sugar £45 7/6; Consolidated Brick 11/6; Whangarei Borough, 1945-1952, 4J per cent., £lO3 10/—; Whangarei Borough, 1945-1953, 4:} per cent., £lO3 10/-; Laloma 59/-. Unofficial: Woolworths (Sydney) £5 17/6, £5 18/-. Wellington, August 10. Sales reported: Inscribed Stock, 4 per cent., 1940, £lO2 2/6 (late Friday); Commercial Bank of Australia 17/7. 17/6J, 17/8; Dalgety and Co. £8 4/-; South British Insurance 96/6; Colonial Sugar £45 7/6; Dunlop Perdriau 16/-; New Zealand Newspapers 40/-; Woolworth’s, New Zealand (cum div.) £l4 5/- (late Friday). Unofficial list: Woolworth’s (Sydney) £5 18/6, £5 18/-, 26 (2) (late Friday), £6, £5 19/9, £5 19/6; Woolworth’s (West Australia) £9 5/- (late Friday), £9 5/-. Christchurch. August 11. Sales on ’Change: English, Scottish and Australian Bank £5 10/6; New Zealand Breweries 53/3, 53/2, 53/1: Australian Iron and Steel (pref.) 23/6 (2); Broken Hill Proprietary 66/6 (2); Consolidated Brick 11/6; Electrolytic Zinc (pref., cum. div.) 36/8; Brian Born ’3'.d.; Mahakipawa 31d.; Mount Lyell 20/3. Unlisted sales on ’Change: Woolworths, Sydney (ord.) £5 18/- (3). Sales reported: New Zealand Government. 4 per cent. Inscribed, 19371940, £lO2 2/6 (late Friday); New Zealand Refrigerating (£1 paid) 20/8 (late Friday); New Zealand Refrigerating (10/- paid) 10/-; New Zealand Newspapers 40/~; Woolworths, New Zealand (ord.) £l4 2/6. Unlisted sale reported: Woolworths, Sydney (ord.) £5 17/9. Dunedin. August 11. Sales on ’Change: English, Scottish and Australian Bank £5 10/-; New Zealand Refrigerating (cont.) 10/-; Woolworths (Sydney) £5 17/3; New Zealand Breweries £2 13/3; Quartz Mountain 12/-. C. G. BEE R. L T D. Q HAREBROKERS, UNDERWRITERS. 0 AND COMPANY PROMOTERS. Member Dominion Stock Exchange. PHONE 1682. P.O. BOX 224. CAMBRIDGE PLACE. C. G. BEE R, L T D., PHONE 1682. P.O. BOX 224. LOCAL MARKETS THE RIALTO. Messrs William Todd and Co., Ltd., report the following sales for the week ending August 9:— Pigs: Fair demand. Small weaners 4/to 7/-; well grown 8/- to 13/6; small stores .11/- to 17/6; stores 18/6 to .£1 6/-. Poultry: Hens 1/- to 1/6; heavy breeds 1/9 to 2/10; ducks 1/5 to 1/9; Muscovy ducks 2/4 to 3/4; turkey gobblers 8/- to 10/3; turkey hens 5/- to 5/8; geese 2/6 to 3/1; ganders 4/- to 6/6. Bacon Pigs: We are cash buyers of bacon weights, 120 to 1501 b, freight paid. Produce: Table potatoes. King Edwards first grade £6 10/- to £7; inferior lines poor demand. Onions 20/-; chaff £5 10/-; hay £4 10/- to £5; oats 16/-; barley 16/-; wheat 19/-; sorrell 4/6; farra food 14/6; barley pollard 11/6; bran 7/-; pollard 8/6; Moose meal 16/-; Moose nuts 15/-; Halmeg sheep nuts 12/6; meat meal 11/-; liver meal 11/-; boneflour 14/-; oyster shell grit 6/- cwt; linseed 24/-. Miscellaneous: Barb wire 27/6; No. 8 galvanized 19/6; fowl netting 13/6; sheep netting 21/-; rabbit netting 21/-; Cyclone £2 15/-; wheelbarrows 26/-; pickling barrells 7/6; kauri washtubs £2 15/-; portable boilers £4 5/-; plunge baths 65/-; tanks 47/6; timber 10/- to 14/- 100; droppers 10/- to 12/-; stakes 25/-; horse covers 26/-; cow covers 8/6 to 15/-; draught collars 35/-; winkers 18/6; headstalls 12/-; bridles 10/-; plough chains 5/6; hames 9/6; honey, 101 b tins 5/6; tea, 401 b chests, 2/3 lb, 51b boxes 13/6. Hedge Trees: White Escallonia. Red Escallonia, Olearia, Macrocarpa, Pinus Insignus 15/- to 25/- 100; shrubs 3/-; apple trees 3/-. . Seed Potatoes: Jersey Bennies, Epicure, Cliff Kidney, Sutton’s Perfection, Robin Adair, Aucklander, King Edward 7/- to 14/- cwt. K.P. potato manure 10/-; K.P. garden manure 10/-; K.P. super 6/6; blood and bones 8/6; carbonate lime 2/6; burnt lime 4/6, all in 1401 b bags. BRAY BROS. Messrs Bray Bros. Ltd. report auction prices as follows: Apples, dessert 4/- to 8/-, cooking 4/- to 6/-; coconuts 10/- sk.; lemons (N.Z.) 14/- to 16/-; oranges (Berri seedless) new shipment to-day, prices according to size; marmalade oranges 8/- to 11/-; mandarins (Berri) 24/- to 28/-; pears 5/io 6/- box; walnuts 5Jd lb; beetroot Id lb; cabbage 1/6 to 4/6 doz.; carrots Id lb; cauliflower 3/6 to 8/- doz; Parsnips Id lb.; potatoes 5/6 to 7/6 cwt; seed potatoes, Early Bird, Epicure, Sutton’s Perfection, Robin Adair, Kerr’s Pink, Arran Banner, King Edward and Arran Chief on hand. Furniture: We are clearing out new rimu furniture at cost price and under, to make room for other goods. WYNDHAM SALE. Messrs Henderson and Co., Ltd., report: There was a small entry of both sheep and cattle forward for the usual mid-monthly sale. The fat sheep section consisted of about three pens of medium conditioned wethers. Competition for these was fairly keen and prices realized 3/- to 4/- ahead of last sale. The store sheep were mostly broken-mouthed breeding ewes, with one or two pens of light hoggets. Good conditioned breeding ewes sold well and showed an advance in price on late sales. One or two pens of close woolled low conditioned ewes were hard to sell, the bulk being passed at auction. There was a keen demand for the few pens of hoggets yarded. The fat cattle section consisted of lightweight medium quality steers. These were in keen demand and sold at satisfactory prices. There were no fat cows or fat heifers yarded.' Store cattle sold fairly well at up to last day’s rates. A number of dairy cows were hard to quit and showed no advance cn late sales. We sold one dairy cow at £1 15/-, one fat cow at £3 10/-, three store cows at £1 10/-.

We, in conjunction with Messrs J. E. Watson and Co., Ltd., held on account of Mr H. Peak a very successful clearing sale after the stock sale. Prices were very satisfactory, especially for the horses, which were a very nice team, and realized the following:— Four-year mare £44 10/-, 4-year mare £36, 3-year made (unbroken) £42, one

hack £l7, 10-year mare (in foal) £2B 10/-. FOREIGN EXCHANGES. (British Official Wireless.) (Rec. 5.5 p.m.) ' Rugby, August 10. The following mean closing rates of foreign exchanges were quoted to-day compared with par:—

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales quoted the following rates for its purchases and sales on overseas currencies on Saturday (all rates subjected to alteration without notice) New' Zealand

LONDON MEAT QUOTATIONS. Messrs Henry S. Fitter and Sons, Ltd., Central Markets, London, advise through their local agent, Mr R. L. Bennett, of Wellington, the following London meat prices: d d N.Z. Lambs, selected Downs, 2's 7J 7J

Lambs—We think that prices will remain steady at present quotations. There is a decreased demand for second quality. Wethers.—The market is short of supplies; prices nominal. Ewes.—There is a little better demand. Beef. —Prices are more or less nominal. , Pork.—There is a speculative cicmand, and prices have advanced. Warm weather is affecting the demand for meat. MINING RETURN. WAIHI COMPANY SHARES. (Per United Press Association.) Auckland, August 10. Information foiwarded by the local office of the Waihi Company to the Auckland Stock Exchange is to the effect that from to-day any fresh transfers of the company’s shares will need lo be registered in London. As a consequence dealings in this scrip are likely to be materially restricted. CHARLESTON COMPANY. (Per United Press Association.) Westport, August 10. There was no Charleston wash-up this week. The temporary stoning plant has been installed to work a new strip of ground. Sluicing commences on Monday. NATIONAL INCOME. £10,000,000 INCREASE. OFFICIAL ESTIMATE. Using the returns from wages tax and the tax on income other than wages or salary the Government Statistician estimates that the national income in the year 1933-34 rose by £10,000,000 over the income of the year before. The subject is dealt with in the current issue of the Abstract of Statistics as follows:— For the purpose of the estimates, the aggregate private income is taken to consist of the gross income of persons from wages, salary, pensions, investments etc., and the net receipts (gross receipts, less expenditure incurred in earning them) of business houses, farmers, professional men, landlords, employers of labour, etc. Capital receipts—e.g., ‘from deceased persons’ estates, repayments of debts,’ etc. —are excluded. It is probable that the estimate tends to understate the aggregate private income, owing to the inclusion in some cases of domestic expenditure or living costs among expenditure incurred in earning income.

No allowance is made on this account in the statistical computation, and the estimates should be regarded as on the conservative side. The receipts for any year from the charge on wages relate to wages and salaries of the current year, while those from the charge on other incomes are in respect of incomes during the preceding year. For the 1933-34 computation, therefore, the 1933-34 receipts from the charge on wages and the 1934-35 receipts from that on other incomes are taken. The charge on wages yielded £2,865,000 revenue during 1933-34. The charge was at the rate of Is in the pound throughout the year, ana the total indicates an aggregate of £57,300,000 salaries and wages subject to unemployment taxation. The emergency unemployment charge was reduced to lOd in the pound from October 1, 1934. Many persons, particularly those with comparatively insignificant income other than from salary or wages, pay in May the whole of the tax payable during the year in respect of such income. Of gross receipts of £1,370,000 during 1934-35 from tax on “other” incomes of 1933-34, £950,000 was collected during the pefiod April-September (when the tax rate was Is in the pound) and £420,000 during October-March (lOd in the pound). If one-fifth (£80,000) were-added to the second half-years total to bring the rate up to the former Is in the pound, the aggregate for the year would become £1,450,000, representing a 1933-34 income of £29,000,000 from sources other than salary or wages. Making estimates and arbitrary assumptions on the same basis as in previous years in respect of income not subject to unemployment taxation, we arrive at the following result for 1933-34, figures for 1931-32 and 193233 also being shown for purposes of comparison.— 1931-32 1932-33 1933-34. £m. £m. £m. Subject to cmerg-

Other evidence—for instance company balance-sheets, income tax receipts, trade and unemployment statistics—supports the conclusion that the aggregate income in 1933-34 was substantially higher than in 1932-33 CHICAGO WHEAT. (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 p.m.) New York, August 10. Chicago wheat quotations.—September 89J, December 911, May 92i, New York (cash) 112 J cents a bushel. QUOTAS FOR TIN. Paris. August 9. The International Tin Committee Jias fixed the quotas from July 1 to September 30 at 65 per cent. METAL QUOTATIONS. (United Press Assn.—Telegraph Copyright.) (Rec. 6.30 p.m.) London. August 9. Quotations for metals are as fol-

GENERAL REPORT. LONDON DAIRY PRODUCE MARKET. BUTTER PRICES IMPROVE. Messrs A. 11. Turnbull and Co., Ltd., advise that the following are the London top quotations for the month:— Jul. 17. Jul. 24. Jul. 31. Aug. 7 New Zealand 89/6 92/- 94/- 94/Kangaroo 87/- 88/— 92/- 92/Danish 100/- 104/- 108/- 109/Market Steady. Firm. Firm. Steady Cheese, white 44/6 43/- 45/6 56/do. coloured 44/- 43/- 45/- 45/6 Market Dull. Quiet, Firm. Firm. Estimated arrivals in the United Kingdom during August, September and October, compared with actual arrivals in previous seasons:— New Zealand Butter.

Spot prices for butter on the London market steadily improved throughout the month, closing with top quotations at 94/- for finest fresh landed butter, this being an advance of 5/- per cwt since our last report. Cabling from London on August 6, Messrs W. Weddel and Co., Ltd., attribute this firming to the strong statistical position .of stocks generally and mere particularly to the reduction in the quantity of New Zealand and Australian butter stored in the United Kingdom and afloat. In view of the report it is interesting to note that on July 26 stocks cf New Zealand and Australian butter in store, United Kingdom, amounted to some 15,16.7 tons, and on August 3 this quantity had been reduced to 13,196 tons, whereas on August 3 last year, these stocks amounted to 21,748 tons. Again the Imperial Economic Committee estimated the total stocks of butter from all sources in store in the United Kingdom at the end of July at 31,400 tons against 48,800 tons in store at the same time last year. Agaist this, it must be noted that arrivals of New Zealand butter during September will exceed last September arrivals by 4000 tons and again some curtailment

of consumption will result from the increase in the retail price now at 1/per lb. Messrs W. Weddel and Co., Ltd., however, predict a firm and steady market throughout August. Forward buyers have continued to show interest in butter for shipment during August and in some cases, for early September shipment, but are becoming more nervous with regard to later shipment and at the present time are not prepared to exceed lid per lb., f.0.b.. for finest grade and are stipulating for shipment by vessels to arrive by the end of September. Australian and New Zealand production is still quite normal, but we anticipate that the August gradings of butter will be somewhat greater than last year, owing to the fact that a considerable number of cheese factories with dual plants, are continuing in butter throughout the month. The cheese market has been dull and lifeless during the greater part of the month, but a definite firming, with a better demand, took place during the last week of July and has continued to date. Messrs W. Weddel and Co., Ltd., cable ■ that the improved inquiry for New Zealand cheese is due to the fact that the public are very dissatisfied with the poor quality of the Home manufacture, and are again turning their attention to the New Zealand article. Stocks of New Zealand cheese in the United Kingdom have been reduced by approximately 3000 tons during the month, while the arrivals during August, September and October are estimated to be 3000 tons less than last season. Messrs W. Weddel and Co., Ltd. are of opinion that the market is more likely to advance than decline. There has been some activity for unshipped cheese to the end of this season’s make at round about 5Jd and in some cases as high as s|d has been paid, but not a great deal of business has been reported. DAIRY PRODUCE. PRICES FIXED. (Per United Press Association.) Wellington, August 10. Dairj' produce prices have been fixed on th’e basis of butter 10? d; cheese sd; equivalent to 87/3 and 44/- 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 August 10:— Butter has a firmer tendency. N.Z., 93/- to 94/-; Danish 110/-. Cheese is firmer. White, 47/6 to 48/-; coloured, 46/6 to 47/-.

Messrs A. S. Paterson and Co., Limited. are in receipt of the following cable advice from their principals, Messrs J. and J. Lonsdale and Co. (London) Limited: — Butter: Market firm. New Zealand 95/-; Australian 94/-; Danish 87/-; landed costs 108/-. Cheese: Market firm. White cheese 48/6; coloured 47/6.

Stock, 3 1 . p.c., 1938-43 105 0 o Stock, 3J p.c., 1938-52 108 10 0 Stock, 31 p.c., 1939-43 105 0 0 — Stock, 31 p.c.. 1939-52 108 10 0 — Stock, 4 p.c., 1946 108 10 0 — Bonds, 4 p.c., 1946 108 10 0 — Stock, 4 p.c., 1955 112 0 0 — Bonds, 4 p.c., 1955 112 0 G Banks. Australasia 11 4 0 — Commercial of Sydncy 18 12 0 — E.S. and A. bank 5 9 6 — National . ' New Zealand 3 10 0 — New South Wales 33 O' 0 — New Zealand — 2 12 3 Reserve Bank of Nev/ Zealand — — 6 10 0 Union of Australia 9 4 0 — Breweries. N.Z. Breweries (Shares) — 2 13 0 Timaru Brewery 0 9 0 — Coal. Kaitangata — 1 0 9 Westport Coal 1 0 Insurance. National 1 0 e New Zealand — — <> 7 6 Loan and A gency. Wright, Stephenson and Co. (ord.) 0 18 0 — (pref.) 1 0 0 1 0 6 Goldsbrough Mort and Co. 1 11 9 — Dalgety and Co. - — — 8 a 0 Southland Farmers’ Co-op. 4 5 0 4 17 6 Meat Companies. N.Z. Refrigerating (20/- paid) — — 1 1 0 (10/- paid) 0 9 11 — South Otago Freezing Co. 6 16 0 — Southland Frozen Meat (£1 ord.) 3 15 6 — (£1 pref.) 3 15 6 Shippin; Union Steam Ship Co. (pref.) 1 7 u — Howard Smith 0 17 11 — Miscellaneous Australian Iron and Steel 1 4 , 1 — British Tobacco (Aust.) 1 19 9 — D.I.C. (ord.) 0 15 9 — Dominion Fertilizer 1 4 0 1 5 0 Dominion Rubber Co. — — 1 9 0 Donaghy’s Rope and Twine 2 13 o — Dunlop Rubber (Aust.) — — 0 16 3 N.Z. Drug — — 4 5 0 N.Z. Farmers’ Fertilizers —• — 1 1 0 N.Z. Guarantee Corporation 0 o 9 — Woolworths (Sydnev) 5 17 0 — (New Zealand) — — 14 5 0 Woollen Mills Kaiapoi (con.) — 0 6 0 Mosgiel 11 0 0 —

Bendigo Goldlight ■ — 0 0 10 Broken Hill “ 3 6 6 Big River 0 111 0 2 2 Gillespie’s Beach — 0 1 5 Goldfields Dredging 0 0 2 0 0 3 King Solomon — 0 3 11 Mount Lyell 1 0 6 Mount Morgans 1 19 0 — Skippers 0 0 21 — Waihi Gold Minmg — 1 18 0 Maori Gully 0 1 0 1 b Junction Reward — 0 1 6

Par. To-day. Paris, fr. to £ 124.21 75] New York, dol. to £ 4.866 4.96;] Montreal, dol. to £ 4.866 4.961 Brussels, belgas to £ 35 29.39 Geneva, fr. to £ 25.221 15.17 Amsterdam, fl. to £ 12.107 7.34 Milan, lira to £ 20.43 60 13-32 Berlin, rmk. to £ 24.43 12.29 Stockholm, kr. to £ 18.159 19.391 Copenhagen, kr. to £ 18.159 23.39g Oslo, kr. to £ 19.159 19.902 Vienna, schgs. to £ 34.585 26 Prague, kr. to £ 164.25 1191 Helsingfors, m. to £ 193.23 226JMadrid, pesetas to £ 25.2215 36 5-32 Lisbon, escudos to £ 110 nog Athens, dr. to £> 875 517 Bucharest, lei to £ 818.6 625 Belgrade, dinars 270.31 216 Rio de Janeiro, p. to milreis 8.892 4J Buenos Aires, p. to dol. 45.577 15 Montevideo, p. to dol . 57 39-j Bombay, pence to rupee 10 18i Shanghai, pence to dol. 17 13-16 Hong Kong, p. to dol — 25 5-16 Yokohama, p. to yen 24.57 142 Batavia — 7.321

On Buying Selling London — £N.Z. to £100stg. T.T. 124 124/10/Australia— O.D. 123/10/124/8/9 £A to £ 100 N.Z. T.T. 101 100/10/Fiji— O.D. 101 100/10/£F to £100 N.Z. T.T. 90/7/6 89 New York— O.D. 90/7/6 89 Dollars to £1 N.Z. T.T. 4.01J 3.97.? Montreal — O.D. 4.03J 3.984 Dollars to £1 N.Z. T.T. 4.01J 3.98A France — O.D. -1.03J 3.98a Francs to £1 N.Z. T.T. 60.86 59.56 Noumea — O.D. 61.16 59.61 Francs to £1 N.Z. T.T. 61.81 58.81 Papeete — Francs to £1 N.Z. O.D. 62.21 58.86 T.T. 61.81 58.81 Belgium— O.D. 62.21 58.86 Belgas to £1 N.Z. T.T. — 23.301 Germany— Reichmarks to £1 O.D. — N.Z. T.T. — 9.666 Italy— O.D. — 9.671 Lire to £1 N.Z. T.T. — 47.86 Switzerland— O.D. — 47.90 Francs to £1 N-Z. T.T. 12.409 12.009 Holland— O.D. 12.481 12.019 Florins to .£1 N.Z. T.T. 6.030 5.780 Java — O.D. 6.080 5.784 Florins to £1 N.Z. T.T. 5.987 5.762 Japan— N.Z. pence to 1 O.D. 6.037 5.766 yen T.T. — 17 27-32 Shanghai— N.Z. pence to 1 O.D. — — dollar T.T. 21 15-32 22 25-32 India and Ceylon— N.Z- pence to 1 O.D. 21 11-32 22 23-32 rupee T.T. 22 3-8 22 23-32 Hong Kong— N.Z. pence to I O.D. 22 1-4 22 21-32 dollar T.T. 30 27-32 31 29-32 Singapore— N.Z. p' ice to 1 O.D. 30 23-32 31 27-32 dollar T.T. 34 5-32 35 3-32 Sweden— O.D. 34 1-32 35 1-32 Kroner to £1 N.Z. T.T. 15.787 15.457 O.D. 15.827 15.467 Norway— Kroner to £1 N.Z. T.T. 16.139 15.869 Denmark — O.D. 16.239 15.879 Kroner to £1 N.Z. T.T. 18.208 17.878 Schillings to £1 O.D. 18.248 17.888 N.Z. T.T. — 20.48 O.D. 20.50 Czechoslovakia — Crowns to £1 N.Z. T.T. — 95.58 O.D. — 95.63

Secondary Lambs, selected Downs 61 6.3 N.Z. Lambs, 2’s 71 7(1 N.Z. Lambs, 8’s 7J 7g N.Z. Lambs, 4’s 7 7i Secondary Lambs 6 63 N.Z. Mutton, small 4.1 43 N.Z. Mutton, large 33 41 N.Z. Ewes, small 2fs 2h N.Z. Ewes, large 2 21 N.Z. Beef, Ox hinds (frozen) 3 31 N.Z. Beef, Ox fores (frozen) 2 21 Dominion chilled hinds 2.3 33 Dominion chilled fores 11 2 South American chilled hinds 31 51 South American chilled fores 2 2i N.Z. Pork 51 6 Australian Lambs 5 6.1 Argentine Lambs 5 6

ency charge— Wages 60.5 55.0 57.3 Other income Wages of exempt 25.0 22.3 29.0 relief workers Wages of domestic 2.0 2.9 2.8 servants “Other” incomes under .£20 of 1.0 1.0 1.0 women “Other” incomes 3.1 3.1 3.1 of Maoris Undistributed company income (including income tax 1.0 1.0 1.0 payments) Pensions under 3.0 2.5 3.5 Pensions Act Other exempt in1.7 1.7 1.8 come 0.5 0.5 0.5 Totals 97.8 90.0 100.0

lows: — August 8. August 9. £ s d £ s d CopperStandard spot 32 4 4.'. 31 18 1'. Forward 32 11 10’, ; |2 I) Electrolytic 35 10 0 35 i 6 to 3G 0 0 35 10 0 Wire Bars 36 0 0 35 10 0 Lead— Spot 15 12 6 15 15 10 0 Forward 15 12 6 10 0 Spelter— Spot 14 7 6 14 6 3 Forward 11 11 3 14 10 0 TinSpot 233 17 6 229 10 0 Forward v 216 7 6 212 5 0 Silver — Fine, per oz. 30 316d 30 3-16d Standard, per oz. 32 9-16d 32 9-16d July 26. Au; gust 9. £ s d £ s d Pig Iron — Home trade 3 7 6 3 I b Export trade 3 2 6 3 2 6 Antimony— British 74 10 0 74 10 0 Foreign 45 5 0 45 10 0 Molybdenite 1 14 6 1 14 6 Wolfram 1 14 6 1. 13 0

1933. Tons. 1934. Tons. 1935. Tons. August 11,288 6,860 7,500 September 7,901 6,083 10,560 October 7,593 10,463 10,000 ■■ ■ — 26,782 23,406 28,060 New Zealand Cheese. Tons. Tons. Tons. August. 5,522 7,124 4,900 September 6,241 6,050 4,720 October 3,507 5,077 5,480 15,270 18,251 15,100