COMMERCIAL

Southland Times, Issue 22728, 2 November 1935, Page 3

COMMERCIAL

FINANCE AND TRADE

INVERCARGILL STOCK EXCHANGE. YESTERDAY’S CALL-OVER. SALE OF 1946 STOCK. Little change was forthcoming in prices quoted at the daily call-over at the Invercargill Stock Exchange yesterday. A sale was reported of 1946 Stock, 4 per cent., at £lO4 12/6. Following is a list of quotations:—

STOCK EXCHANGE. THE WEEK’S TRANSACTIONS. Although there was a small turnover on the stock exchange of the Dominion during the week, values with one or two exceptions were well maintained. Steady trading was done in Government 4 per cent, stocks and bonds. The line due in 1940 remains unchanged in price, but the three other issues have been marked down considerably; particularly the longer dated loan, due 1955, interest sales of this line being at £lO7 17/6 to £lOB. The tax free Government stock, bearing interest at 31 per cent, has been quiet for the past fortnight with very few transactions. Trading in banks was very light. New Zealands (ordinary) were done at 50/9 to 51/-, being on a par with the market price that was ruling last week-end. E.S. and A. Banks were lightly dealt in at increased figures, sales at £5 6/9 being reported. Bank of New South Wales shares moved up to £32 7/6, and yesterday there was further inquiry for this line at the same figure. Commercials of Australia were very quiet and the market was practically unchanged at 16/7. The market for Reserve Bank of New Zealand shares has eased considerably, no doubt due to a remark reported to have been made by a prominent member of the Labour Party as to the action that would be taken with regard to the Reserve Bank if the Labour Party were returned to power at the coming elections. The insurance section was quiet and few sales were reported during the week. South British Insurances were placed at 87/9, showing the market a little easier. Nationals were reported sold at 19/6, a drop of a few pence compared with the previous week. Standard Insurances showed improvement with sales at 67/6. In the loan and agency group several sales of Dalgety and Company’s shares were reported at £8 1/- and £8 2/-. There was some inquiry for Goldsbrough Morts, but no business resulted. Mortgage Corporation shares showed more activity, but the market is unchanged at 5/5 to 5/6. Very little was done by way of sales in the frozen meat section. New Zealand Refrigerating (contributing) were reported sold at 11/-. The inquiry for the fully paids was a firm one with buyers at 22/3. Gear Meats were asked for at 21/6. Southland Frozen Meats had sellers at 80/-. In the mining section there was not a great deal of business done. Electrolytic Zincs (ord) showed firmness in selling at 32/6. The quotation for this company’s nreference shares was buyers 36/-. Mount Lyells continued to fluctuate in price. This week has seen them eased a little, the latest sales

being at 19/1. Martha Gold Mining recovered the ground that was lost last week, the market going to 21/3. Waihi investments moved up 2Z- a share to sell at 17/-. Mount Morgans were sold early in the week at 37/6; later the market was a little easier at 37/-. Very little business-was done in the lower priced mining companies’ shares. Maori Gullys moved up to 1/3 and 1/4. Big Rivers were placed at 1/11. Some business was done in Skippers at 2Jd. King Solomons were asked for at 3/3 with sellers at 3/6. Mahakipawas are very weak with sales at Id. Waipapa Beach had buyers at 1/6, but no sellers below 1/8. The general section was responsible for a big proportion of the turnover during the week. New Zealand Breweries were active and firmer, a number of sales being reported at 52/9 to 53/-. Tooth’s Breweries, while not right up to last week’s market, are firm at 57/and 57/1. Dunlop Rubbers showed some improvement, the price for this company’s shares advancing from 15/6 to 16/1. British Tobaccos had sales at the increase* price of 39/-. From Thursday this company’s shares were quoted ex dividend. The price of Colonial Sugars moved upwards, sales during the week going through at £44. Westport Coals if anything are firmer, the latest sales being at 22/9. Wilson’s Cements continue very steady at 42/— to 42/3. Dominion Fertilizers improved in price a little, a parcel or two of this company’s shares changing hands at 23/-. New Zealand Paper Mills were disposed of at 29/-, this price 'being with dividend payable on November 11. Some inquiry came early in the week for New Zealand Drug Company’s shares and several parcels changed hands at 77/-. Broken Hill Proprietary, both shares and rights, continue in strong demand, sales of the shares being reported at 55/3 to 55/6 and of the rights at the increased price of 21/- to 21/3. Woolworths (Sydney) continue a popular stock with investors, the market this week being £5 11/6 to £5 12/-. Several sales were reported at these prices. . NORTHERN EXCHANGES. (Per United Press Association.) Auckland, November 1. Sales on ’Change: Stock, 1946, 4 per cent.. £lO4 12/6; Commercial Bank of Australia 16/7j; Bank of New Zealand 50/10 (2); Reserve Bank of New Zealand £6; Union Bank (Melbourne register) £9 8/6; New Zealand Insurance 63/3, 63/4; Farmers Co-operative Auctioneering (£5 paid) 78/6; Traders Finance (cont.) 4/-; Traders’ Finance (pref.) 20/6; Dominion Breweries 15/7J; New Zealand Breweries 52/1; Broken Hill Proprietary 54/9; Farmers* Trading 7/3; New Auckland Laundry 20/6; New Zealand Newspapers 40/9, 40/6; Martha Mine 21/4|; Mataki 2/- (3); Skippers 21d (2); Mount Lyell 19/4. Unofficial: Woolworths (Sydney) £5 Wellington, November 1. Sales on ’Change: Inscribed Stock, 4 per cent, 1940, £lOl 15/-; Inscribed Stock, 4 per cent., 1946, £lO4 13/6, £lO4. 13/9; Inscribed Stock, 4 per cent., 1949, £lO5 (2); Inscribed Stock, 4 per cent., 1955, £lOB (3); South British Insurance 88/- (late Thursday); New Zealand Refrigerating 22/3, 22/4; Puekimiro Coal 24/10J (late Thursday); Taupo-Totara Timber 7/2 (late Thursday); Dominion Breweries 15/9 (2) (late Thursday), 15/9; Electrolytic Zinc 32/6 (late Thursday), 32/6. Unofficial: Woolworths (Sydney) £5 11/9 (late Thursday). Christchurch, November 1.

Unlisted sales on’Change: Were’s Investment Trust 5/-; Woolworths, Sydney (ord.) £5 11/6. Sales on ’Change: New Zealand Government, 34 per cent. Inscribed, 19381952, £104*7/6; New Zealand Government 4 per cent. Inscribed, 1937-1940, £lOl 12/6; Mortgage Corporation (5/paid) 5/6; Broken Hill Proprietary (cum div.) 55/2, 55/3 (3); Electrolytic Zinc (ord.) 32/6; Electrolytic Zinc (pref.) 37/6; Kauri Timber (cum div.) 22/9; Mount Lyell 19/4. Sales reported: Waihi Grand Junction 4/-; Central Shotover Id (2); New Zealand Newspapers 40/6; New Zealand Drug Company 77/- (2); Kauri Timber (cum div.) 22/-; Broken Hill Proprietary (cum div.) 55/3, 55/4 (3); South British Insurance 87/6; North Canterbury Hospital Board, 4$ per cent, debentures, £103; Lyttelton Harbour Board, 5J per cent., £lO3 15/-. Dunedin, November 1. Sales on ’Change: Bank of New Zealand £2 10/10; Mortgage Corporation 5/6 (2); Brown, Ewing (pref.) £1 1/6, New Zealand Drug £3 7/6 (2); Mount Lyell 19/4; Big River 1/11; Martha Mine £1 1/4J; Stock, 4 per cent., 19521955. £lOB

OTAGO MARKETS. WHEAT AND CHAFF LIFELESS. POTATOES STILL QUIET. (Per United Press Association.) Dunedin, November 1. No business can be recorded in the milling wheat market because there are no offerings from the country. There is still a good demand for fowl wheat as merchants are buying in anticipation of a shortage of supplies before the new crop comes in. Requirements are being secured from the Wheat Purchase Board whose stocks are gradually being depleted and it will not be long before the surplus at Oamaru is worked off. When this takes place increased railage will have to be paid for deliveries from Timaru and further north. In the meantime the market remains firm at 4/9 a bushel, sacks extra ex the truck, with 5/- for lots ex the stores.

That sowing of wheat in the Otago district for the coming season is completed. Considering the quantity of seed that has gone out to growers it is considered that the area sown will not be greater than last year so far as Otago is concerned. A quiet period is being experienced in the oat market. The demand for seed has fallen off and there are practically no oats left in the stores. An occasional shipping inquiry is being received, but in the absence of supplies merchants are unable to quote. Prices are unchanged on a basis of 3/11 f.0.b., s.i., for A’s and 3/9 for B’s, equivalent to 3/3, sacks extra, on trucks at country sidings, for A’s, and 3/- for B’s. In anticipation of better yields for the

coming season there are already quotations on the market for deliveries next year. The quotations, which show a substantial drop in values, are about 3/1 for A’s, spread delivery April to September. The spring growth of. grass was greatly helped bj the rainfall'last week and there has been a weakening in the demand for chaff. The market, however, remains unchanged, with merchants still drawing their requirements from Canterbury. Best quality, ex the truck, is worth about £5 15/- a ton, sacks extra, and prices ex the store range up to £6 5/-. The demand is practically confined to best quality lots ex the stores.

The potato market continues depressed, with sales difficult to make. Small supplies have been arriving from the country districts, but the distributing trade has now dwindled down to small compass. The present value for potatoes is difficult to name, quotations being irregular, and merchants are not prepared to operate to any extent. Reports from the North Island show that new potatoes are becoming more plentiful daily and that the market for old potatoes is lifeless. A fair quantity of old tubers is still in the stores at Auckland and it would appear that no further supplies are wanted. Supplies of new potatoes in the South Island are now increasing.

Apart from the retail trade, which continues good, there is little business passing in seeds. The wholesale markets are quiet, merchants not being prepared to stocl- up until they have worked off their supplies in hand. There is no quotable change in values and this position is expected to continue until the prospects of the new crops are known. Most of the seedgrowing districts could do with further rains and it is considred that lack of moisture may have an effect on tlfe root growth, resulting in lower yields of Cocksfoot and Ryegrass. Fruit Report.

Supplies of apples are getting shorter every week. Most of the supplies are coming from Cromwell and Alexandra. The demand is confined practically to best quality. Cookers are also in short supply.

Christchurch hothouse tomatoes are becoming more plentiful and the market is easier; local hothouse grown are also appearing. New Zealand grown lemons are still plentiful. The last shipment of Samoan bananas, ex the Maui Pomare, ripened up well and the stocks in the marts are almost finished. Californian grown grapes are plentiful. CANTERBURY MARKETS. VERY LITTLE BUSINESS. (Per United Press Association.) Christchurch, November 1. Apart from an interest in fowl wheat, there is very little business in the Christchurch grain and produce markets. Potatoes appear to have finished for the year, the North Island having taken no interest at all in the local market. Since the price first began to sag from the high rates, there has been a very small quantity of business with local retailers, who have found new sup-. plies held up by rain, but generally these lots have been exceedingly small and the price has been as low as the equivalent of £5 15/- a ton on trucks. There is actually no market for farmers at present and it looks as if there will be none till the new crop. New crop potatoes have already been dealt in to some extent, the price being equivalent to £3 10/- a ton on trucks or thereabouts. Pukekohe (new crop) are quoted this week at £l7 10/- a ton on trucks at Pukekohe, a decline of £7 in 10 days and an indication that the northern crop is beginning to come in more heavily. z Free fowl wheat is very scarce indeed, or is very firmly held, and the price has risen to 4/6 a bushel; sales are reported at as high as 4/8. The Wheat Purchase Board’s price remains at 4/4 for South Island delivery, but deliveries by the board to merchants are being made from wheat stored for some time and merchants are not keen to acquire it. The board has adopted the policy of delivery milling grade to consumers only to prevent holding by speculators. -In October deliveries to the board amounted to 83,000 bushels, about half of which has been absorbed by millers with warrants to fill. The rest has been made available for feed. The small seed trade has shown a slight awakening after the rain and fair business is being done with the country in retail lots. WYNDHAM STOCK SALE. Messrs Henderson and Co. Ltd. report: For this season of the year a large yarding of both sheep and cattle came forward for Thursday’s sale. The fat sheep pens were nicely filled with fair quality wethers and a few pens of nice conditioned butchers’ ewes. Bidding was brisk for both classes with the result that the pens were cleared at auction at well up to late sales rates. There was a large number of ewes and lambs yarded in the store sheep pens, also one or two pens of ewe hoggets. Owing to the continued dry weather and shortage of feed in the district, competition was not so keen as the previous sales with the result that the offering was sold at prices in buyers’ favour. The fat cattle pens were filled to overflowing with fat cows, mostly of medium quality, and one or two pens of light unfinished steers. The number was too great for the demand and prices all over dropped considerably on last sale. Very few pens of store cattle were offered, and these sold up to late sales. The dairy section was well represented. The demand for this class was good, the yarding being cleared at auction at prices slightly in advance of late sales here.

We sold: Sheep: 6 fat wethers at 34/-, 38 at 30/3, 18 at 27/6, 1 fat ewe at 29/-, 5 at 24/3, 6 at 18/-, 41 ewe hoggets at 23/1, 32 wether hoggets at 16/-, 149 ewes and lambs at 14/-.

Cattle: Dairy cows at £5 7/6, £4 2/6, £3 10/-, £2 10/-, dairy heifers at £5 (4), £4 17/6 (2), £4 15/-, £4 12/6, £4 7/6 (2), £4 5/-, £4, £3 12/6, £3 10/- (2), £3, £2 15/-, £2 17/6, £2, £1 10/-, fat cows at £7 15/-, £7 5/-, £6 17/6, £6 15/-, £5 17/6, £5 5/-, £4 7/6, £2 10/-, store cows at 30/- (2), 6/-, store heifers at 25/-, 20/- (10), 7 steers at £4 4/-, bull at 10/-. Passed 6 fat cows, 4 store cows. Pigs: 2 at 16/6, 2 at 15/-, 2 at 13/6. LONDON MARKET REPORTS. BUTTER STEADY. (United Press Assn.—Telegraph Copyright.) London, October 31. Sugar: November 4/ll|. Butter: Quietly steady at lower levels. Choicest salted New Zealand 106/-. Australian 104/-, 108/-. Unsalteds: New Zealand 110/-, Australian 108/-. , Cheese: Weak. New Zealand white and coloured 53/-; Australian 51/52/-. Bradford tops are firm. Seventies, 33d; 64’s, 30Jd; 60’s, 25Jd; 56’s, 20/|; 50’s, 15d; 46’s, 12|d; 40’s, lid.

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 quiet. New Zealand finest 105/-, 106/-; New Zealand first 103/-, 104/-; Danish 124/-, 126/-; f.o.b. 104/-; Australian 105/-, 106/-. Cheese: Market steady. New Zealand 52/-, 53/-; Canadian 54/-, 58/-.

SYDNEY STOCK EXCHANGE.

STRONG TONE .YESTERDAY.

(United Press. Assn.—Telegraph Copyright.) (Rec. 9.35 p.m.) Sydney, November 1. Trading on the Stock Exchange today disclosed a distinctly strong tone. Industrials made a firm showing, the turnover being well above normal.

FOREIGN EXCHANGES. ON NEW ZEALAND CURRENCY BASIS. The Bank ot New South Wales quoted the tollowing rates tor its purchases and sales on overseas currencies yesterday (all rates subjected to alteration without notice):— New Zealand on Buying Selling

MINING REPORTS. KING SOLOMON RETURN. The return at the King Solomon mine this week was 330 z 4dwt. GOLDFIELDS DREDGING. Dunedin, November 1. The wash-up of the Goldfields Dredging Company was 21oz. 15dwt. for 148 hours’ dredging. NORTH BROKEN HILL. DIVIDEND AND BONUS. (Per United Press Association.) Wellington, November 1. North Broken Hill declared a dividend of 2/6 a share, together with a bonus of 1/- a share, payable at Melbourne on December 12. KAURI TIMBER COMPANY. DIVIDEND OF 5 PER CENT. (Per United Press Association.) Auckland, November 1. A dividend of 5 per cent., subject to audit, is recommended by the directors of the Kauri Timber Company, Ltd. (Melbourne), for the year ended August 31. The company paid 3 per cent, last year and 2 per cent, in 1933. UNION OIL, SOAP AND CANDLE. FINAL DIVIDEND DECLARED. (Per United Press Association.) Auckland, November 1. The directors of the Union Oil, Soap and Candle Company, Ltd. (Auckland), recommend a final dividend of 9d a share, making 1/3 for the year at the unchanged rate. BANK OF NEW ZEALAND. INTERIM DIVIDEND TO BE PAID. (Per United Press Association.) Wellington, November 1. The directors of the Bank of New Zealand announce that an interim dividend of 1/- a share on ordinary shares of the baqk and of 3j per cent, on D long term mortgage shares will be paid in New Zealand currency on December 7. MELBOURNE MARKETS. (United Press Assn.—Telegraph Copyright.) Melbourne, November 1. Wheat—3/81. Flour—£l2 12/6. Bran—£s. Pollard—£s 10/-. Oats—2/1. Barley—English, 2/IC; 3/-. Maize—4/6; 4/7. Potatoes—£9; £9 15/-, Onions—£7 15/-; £B. ,

METAL QUOTATIONS. (United Press Assn.— Telegraph Copyright.) (Rec. 9.35 p.m.) London, October 21. Metal quotations are as follows: — Oct. 30. Oct. 31.

PRICE OF GOLD. Londe , October 31. The price of gold is quoted at £7 1/5 per ounce. LONDON SHARE QUOTATIONS. (United Press Assn.—Telegraph Copyright.) London, Cctober 31. Shares.—Mount Lyell 14/9.1; New Guinea 4/10J.

Government Debentures. Buyers. Sellers. £ s d £ s d Stock, 34 p.c., 1938-43 102 15 0 Stock, 3J p.c., 1938-52 Stock, 3‘. p.c., 104 5 0 — 1939-43 Stock, 34 p.c., 102 15 0 — 1939-52 104 5 0 Stock, 4 p.c., 1940 101 10 0 ■ Bonds, 4 p.c., 1940 101 10 0 Stock, 4 p.c., 1946 104 5 0 Bonds, 4 p.c., 1946 104 5 0 Stock, 4 p.c., 1949 105 0 0 — —- Bonds, 4 p.c., 1949 105 0 0 Stock, 4 p.c., 1955 107 10 0 Bonds, 4 p.c., 1955 107 10 0 — Banks. Australasia Commercial 11 2 6 0 16 9 Commercial, pref., 4 p.c. (cum.) National of New 9 10 0 — Zealand 3 11 0 3 13 0 New South Wales 32 5 0 - ■ n New Zealand .2 10 6 New Zealand Long “D” issue 1 13 9 Reserve Bank of New Zealand 6 6 o Union of Australia 9 5 0 — Breweries. New Zealand Breweries (Shares) Timaru Brewery 2 11 9 — (cum div.) 0 8 6 — Coal. Westport Coal 1 2 4 — Insurance. National * n ia 3 2 6 — New Zealand Loan and Agency. * Dalgety and Co. 8 0 0 — Wright, Stephenson and Co. (ord.) 0 1R 1 0 0 1 0 3 (pref.) Mortgage Corporation 0 5 4 0 5 6 Meat Companies. N.Z. Refrigerating (20/- paid) 1 2 0 — (10/- paid) 0 10 10 • 1 — Southland Frozen Meat (£1 ord.) 4 0 o (10/- ord.) 2 0 o (£1 pref.) 4 0 o Shipping. Union Steam Ship Co. (pref.) 1 7 3 — Miscellaneous. Electrolytic Zinc (ord.) 1 12 0 ■ - (pref.) British Tobacco (Aust.) 1 16 0 1 18 q w Colonial Sugar Co. 43 10 0 — DLC. (pref.) 1 4 0 ■■I' Dominion. Fertilizer 1 3 0 Donaghy’s Rope and Twine Milburn Lime and 2 12 6 — Cement New Zealand 2 3 9 2 4 9 Drug N.Z. Farmers’ 3 16 6 3 18 0 Fertilizers 0 19 0 — ... N.Z. Paper Mills 1 8 0 1 10 0 Wilson’s (N.Z.) Portland Cement Woolworths (Sydney) 2 1 6 5 13 0 Woollen Mills. Bruce 0 15 o 0 19 0 Kaiapoi (pref.) Mining. Bendigo Goldlight — 0 0 6 Big River 0 1 10 0 2 0 Gillespie’s Beach 0 1 0 0 1 3 King Solomons 0 3 2 0 3 5 Mount Lyell 0 19 Mount Morgans 1 17 3 Okarito 0 5 0 0 3 Skippers . Waihi (Martha) 1 0 9 Waipapa Beach 0 1 5 Waihi Investments 0 16 6 — -

Sales:— £ s d Commercial Bank of Sydney 18 0 0 Bank of Australasia 11 7 6 Commercial Bank of Australia 0 16 104 Colonial Sugar 44 . 5 u Australian General Insurance 0 17 0 Associated Newspapers 1 4 10> Australian Gas (A) 7 15 6 British Tobacco 1 19 74 Tooth’s 2 18 41 Australian Glass 4 6 6 Dunlop Perdriau 0 16 0 Winchcombe Carson 1 9 101 Morris Hedstrom 1 3 9 Electrolytic Zinc 1 13 6 Claude Neon 2 11 6 Mark Foy 1 1 9 Perpetual Trustee 4 15 0 Woolworths (first pref.) 2 0 0 David’Jones 2 0 3 Anthony Hordern 0 19 3 Mount Morgan 1 17 6 Broken Hill Pty. 2 15 9 North Broke** Hill -8 2 6 South Broken Hill 5 0 6 Kuala Kampar 0 14 5 Mt. Kasi 0 18 '3 Mt. Paris Tin 0 3 8 Loloma 2 3 6 Commonwealth Bonds (4 per cents.) — 1938 102 15 0 1941 103 15 0 1950 104 10 0 1953 104 0 0 1955 104 12 6 1957 104 12 6 1959 103 0 0 1961 103 7 6 Melbourne Sales. Commercial Bank of Australia 0 16 9 E.S. and A. Bank 5 5 0 G. J. Coles 3 5 3 Howard Smith 0 18 9 Mt. Lyell 0 19 9 Loloma 2 3 101Enterprise 3 17 6 Emperor 1 4 0 — -

London— £N.Z. to £100stg. T.T. 124 124/10/O.D. 123/10/ 124/8/9 Australia— £A to £100 N.Z. T.T. 101 100/10/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— Dollars to £1 N.Z. T.T. 3.97 78 3.93 3 ,4 O.D. 3.99 18 3.94’/* Montreal— Dollars to £1 N.Z. T.T. 4.02 3.98'/* O.D. 4.03’4 3.98% France— Francs to £1 N.Z. T.T. 60.61 59.31 O.D. 60.91 59.36 Noumea— Francs to £1 N.Z. T.T. 61.56 58.56 O.D. 61.96 58.61 Papeete— Francs to £1 N.Z. T.T. 61.56 58.56 O.D. 61.96 58.61 Belgium— Belgas to £1 N.Z. T.T. —— 23.135 O.D. —— 23.150 Germany— Reichmarks tc £1 N.Z. T.T. — 9.610 O.D. —— 9.615 Italy— Lire to £ 1 N.Z. T.T. —III — 47.91 O.D. —— 47.95 Switzerland— Francs to £1 N.Z. T.T. 12.379 11.979 O.D. 12.454 11.989 Holland— Florins to £1 N.Z. T.T. 5.950 5.700 O.D. 6.000 5.704 Java— Florins to £1 N.Z. T.T. 5.907 5.682 O.D. 5.957 5.686 japan— N.Z. pence to 1 yen T.T. ->—* 17 11-16 O.D. — 17 43-64 Shanghai— N.Z. pence to 1 dollar T.T. 18 9-32 19 19-32 O.D. 18 5-32 19 17-32 India and Ceylon— N.Z. pence to 1 rupee T.T. 22 3-8 22 23-32 O.D. 22’/* 22 21-32 dong Kong— N.Z. pence to 1 dollar T.T. 26 19-32 27 21-32 O.O. 26 15-32 27 19-32 Singapore— N.Z. pence to 1 dollar T.T. 34 3-8 35 5-16 O.D. 34’/* 35'/* 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. 16.201 15.871 O.D. 16.241 15.881 Denmark— Kroner to £1 N.z. t.jl. 18.208 17.878 O.D. 18.248 17.888 Austria— Schillings to £1 N.Z. T.T. —— 20.63 O.D. ■II■■■» 20.65 Czechoslovakia— Crowns to £1 N.Z. T.T. MV 95.01 O D. — 95.06 I.I..I-

£ s d £ s d Copper— Standard spot 34 16 101 35 0 0 Forward 35 ’4 4-J 35 6 10>l Electrolytic 39 5 0 39 5 0 to 39 15 0 39 15 0 Wire Bars 39 15 0 39 15 0 Lead— Spot 17 7 6 17 76 Forward 17 7 6 17 7 6 Spelter— Spot 16 5 0 16 7 6 Forward 16 5 0 16 7 6 TinSpot 217 17 6 223 10 0 Forward 217 7 6 212 15 0 Silver— Fine, per oz. 29 5-16d 29 5-16d Standard, per oz. 31 5-8d 31 5 -8d