COMMERCIAL

Southland Times, Issue 22993, 12 September 1936, Page 4

COMMERCIAL

A QUIET WEEK Industrial Shares In Demand DOMINION STOCK EXCHANGES A rather quiet week has been experienced on the stock exchanges of the Dominion. Australian industrial companies’ shares received some attention and steady business was done in this section. The market for Government securities continues very firm, but the turnover was not large. The short term loan of bonds and stock due 1940 moved up to higher levels, sales being reported at £lOl 15/- and £lOl 17/6. A firmer market existed for the issue due in 1946, business in this line being reported at £lO3 15/-. The lines maturing in 1949 and 1955, although not dealt in, are very steady, with buyers at £lO5 15/-. Business in banking shares was confined chiefly to Bank of New Zealands. There were a number of transactions reported in this bank’s shares at prices ranging from 39/3 to 39/6. No change has taken place in the market price of Commercials of Australia, which were disposed of at 18/4. Union Banks are steady to firm, business being reported at £9 10/- and £9 10/6. E. S. and A. Banks brought £5 16/-, later moving up to £5 17/6. A sale of Nationals of Australasias, fully paid, was put through at £l4 10/-. Little Business in Insurance. Very little business was done in the insurance section. Nationals were asked for at 18/-, but there were no sellers below 18/5. New Zealands were quiet, but firmer withs ales at 62/9 and 63/-. South British are not quite up to last week’s market. They were placed, once or twice, at 89/-. In the pastoral group, Goldsbrough Morts received increased support. This was no doubt due to the favourable opening of wool sales in Australia. Business was done in this company s shares at 33/- to 33/6, buyers for further lots offering the former figure. Some quotations came for shipping companies’ shares, but the only line dealt in was Union Steam. Preference sales of this line were reported at 26/4 and 26/5. The frozen meat section was devoid of activity. The only line dealt in was j the contributing issue of the New Zealand Refrigerating Company which sold at 9/3. No buyers came forward for Southland Frozen Meats, for which sellers were asking 75/-. There was little inquiry for woollen companies’ shares, the only business reported being a parcel of Oamaru Woollens at 21/6 and one of the Kaiapoi ordinary issue at 15/10. ; Outside of one or two companies shares, there was little business done in the mining section. Mount Lyells are fractionately weaker, selling from 28/7 to 29/- early in the week, and later remaining steady at 28/10. . A good turnover took place in this line. Mount Morgans made little movement during the week, the bulk of the business being done at 13/1. Electrolytic Zincs cum dividend brought 40/6 for the ordinary shares. The preference issue sold at 43/9. From Thursday this company’s shares were quoted ex dividend. Waihi Investments moved up a few points, selling.at 11/2. Very little business was done in other mining shares. Big Rivers sold at 2/and later at 1/11. Brian Borus brought 4d, and Skippers changed hands at the same price. Gillespie’s Beach are firmer at 1/51 and 1/6. Rise in Broken Hill Shares. Chief interest in the miscellaneous section came from the sharp rise in Broken Hill Proprietary Company’s shares, which moved up to 76/3, 76/9, and later to 77/- and 77/9. The same ' company’s contributing shares moved up in sympathy from 54/6 to 56/-. Woolworths (Sydney) recovered from the low price they sold at last week, sales being put through at £5 10/- to £5 12/-. Later the market was £5 10/6 to £5 11/6. There was a big turnover in this company’s shares. The market for G. J. Coles shares is somewhat uncertain and will remain so until the dispute among the directors is settled. Sales during the week took place at 80/-, and later at 79/- and 78/6. Australian Iron and Steel Company’s scrip is steady but quiet at 26/3. Australian Glass moved up to 92/6 and later 92/9 —a rise of 1/6 to 1/9 a share during the week. New Zealand Breweries show little, if any, change in price compared with last week. Sales were put through ..at 52/9 and 53/-. Tooth’s Brewery Company shares remain firm at 56/3 to 56/6. Tooth’s business year ends this month —the market is evidently looking for an increased dividend. British tobaccos showed a firming tendency, the market moving up to 41/9 and 42/- during the week. Diinlops lost ground, selling early in the week at 18/4 and later at 18/2. Hume Pipe (Australia) show little change in price, business being done in this company’s shares at 19/7 and later at 19/5. Milburn Limes brought 43/6. This company’s figures for the . year show an improvement, and the dividend rate is maintained. Wilson s Cements fell 6d to sell at 36/- and Farmers Fertilizers are slightly firmer at 20/9. Business was done in Selfridges (Australia) at 26/3, 26/6 and 26/9. government securities (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p m.) London, September 10. Following arc the latest quotations for Government securities, compared with the

SHARE MARKET INVERCARGILL STOCK EXCHANGE YESTERDAY’S CALL-OVER Prices were quoted as follows at yesterday’s call-over on the Invercargill Stock Exchange:— Government Debentures.

NORTHERN EXCHANGES SALES diPcHANGE

SYDNEY STOCK EXCHANGE

INQUIRY FOR INDUSTRIAL SHARES.

(United Press Assn.—Telegraph Copyright.) (Rec. 8.15 p.m.) Sydney, September 11. The taxation cuts and buoyant finances disclosed in the Federal Budget stimulated the inquiry for industrial shares on the Sydney Stock Exchange to-day, but in tire mining section barriers were a shade easier. Tin shares were sought at firmer figures Sales: —

MELBOURNE PRODUCE MARKETS

(United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) Melbourne, September 11. Produce is quoted as follows: — Wheat.—4/9 a bushel. Flour.—£ll 15/- a ton. Bran.—£s 15/- a ton. Pollard.—£6 a ton. Oats.—2/4 a bushel. Barley.—English, 3/3 to 3/4 a bushel. Maize.—s/3 to 5/4 a bushel. Potatoes.—£7 to £8 10/- a ton. Onions.—£l4 10/- to £l5 10/- a ton. FOREIGN EXCHANGES (British Official Wireless.) (Rec. 5.5 p.m.) Rugby, September 10. The following mean closing rates of foreign exchanges were quoted to-day compared with par: —

METAL MARKET

(United Press Assn.—Telegraph Copyright.) (Rec. 8.16 p.m.) London, September 10. Metals are quoted as follows: —

THE WOOL MARKET BRADFORD TOPS FIRMER. (United Press Assn.—Telegraph Copyright.) London, September 10. Bradford tops are slightly firmer as the result of better reports from Australia, and there is a fair demand for crossbred yarns with firm prices.

CANADIAN CROPS

ESTIMATES OF BUREAU OF STATISTICS. (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) Ottawa, September 10. The estimates of the Bureau of Statistics of the crops in Canada for 1936, compared with last year’s figures, are as follows:— 1936 1935 Bushels Bushels Wheat 232,973,000 277,339,000 Oats 274,463,000 391,000,000 Barley 74,376,000 82,876,000

OTAGO PRODUCE MARKETS

WHEAT BUSINESS QUIET INQUIRIES FOR POTATOES (United Press Association.) Dunedin, September 11. Business in the wheat market continues quiet. There is practically no milling wheat on offer and fowl wheat is also in short supply. The broken weather experienced lately has prevented farmers from getting their ground ready for planting spring wheat and, as a consequence, the demand for seed is not very great. A spell of good _ weather is required to enable farmers who desire to sow wheat to get on with their work. It would appear that the variety of wheat that will be mostly required for sowing from now onwards will be Jumbuck, as this wheat can be sown later than other varieties. It is now certain that the area planted for the coming season’s wheat crop will be considerably less than in the previous year and in some quarters it is predicted that there will not be sufficient wheat available to meet requirements in the Dominion. In the meantime the value of good whole fowl wheat rules at 4/9 per bushel (sacks extra, ex truck), with higher prices ruling for deliveries, ex stores. The oat market remains steady, with only a small volume of business being transacted. Shipping prices are unchanged, with A Gartons being quoted at from 3/4 to 3/4 f.o.b.s.i. and B’s at 3/11. Stocks in Dunedin are on the light side and it is impossible to secure supplies from the country as the stocks there are also short. Seed Oats Quiet. The demand for seed oats is quiet, the broken weather preventing sowing. With a spell of fine weather it is anticipated that a good quantity of oats will be required for planting. The chaff market remains unchanged, with supplies coming forward from the surrounding districts and also from Canterbury. The value for the best quality is £4 10/- per ton (sacks extra, ex truck). Only an occasional truck load is changing hands, most of the business being from stores at up to £5 per ton (sacks extra). The potato market has been difficult to follow. A report that there may be a further shipment from overseas and the cold weather in the North Island have affected the position. The unseasonable weather in the North Island will retard the growth of crops there and holders of potatoes in the South Island are showing a disinclination to part with their stocks. Although towards the end of last week the market was quiet, with sales difficult to effect, an improvement has now takJn place and there have been a number of inquiries for potatoes for shipment to the North Island. Several sales, have been made from this port and this has had a tendency to mark up the values. The quotation locally is £4 15/- (sacks included) for freshly-picked Arran Chiefs and £5 for King Edwards. A quiet week has been experienced in the seeds market. Inquiries from overseas have slackened off and few sales have been reported to that quarter. Holders of stocks are content to await developments as it is anticipated that during October and November substantial shipments will be made from New Zealand. Prices for ryegrass remain unaltered and the same position applies to the markets for cocksfoot, cowgrass and white clover. The only line in which any interest is being displayed has been brown top and some sales have been made. Fruit Report. Supplies of apples have been plentiful and the market has eased a little in keeping. The quality of most of the lines coming forward, is poor and buyers are only operating in small lots. Pears are still reaching the market from the Canterbury Cool Stores.. Hothouse tomatoes are now available from the Auckland district. A small shipment of Samoan bananas will arrive next week by the Port Waikato and will be transhipped at Auckland. The Waitaki, which arrived on Tuesday last, brought approximately 4000 cases of oranges for the local market and the shipment was at once taken up by retailers. Some lines showed considerable waste but, as with a previous shipment, buyers had to fill their requirements at their own risk. A small lot of mandarins also came to hand by the Waitaki. A shipment of lemons will arrive to-morrow by the Waipiata. Californian grapes, which were due to arrive by the same steamer, were carried on to Sydney from Auckland consequent on the trouble with the watersiders who refused to unload the Monterey. The grapes will not be here until about a fortnight:. Queensland pines are in good supplies. POTATO MARKET FIRM CHRISTCHURCH QUOTATIONS. (United Press Association.) Christchurch, September 11. The potato market is very firm owing mainly to purchases for shipment, about 750 tons of which will leave for Montevideo on Monday. The shipment is the third to go from Lyttelton this season and the amount lifted, about 4000 tons, from Canterbury, has been of material help in keeping the market firm. Buying has been very active this week and the price has risen to about £5 5/- on trucks for Whites and £5 10/- for Dakotas. The demand has been almost entirely confined to potatoes for shipping overseas, the North Island having been very quiet. There are indications that the Auckland market, following higher quotations here, has firmed, but little actual business has passed. It is more than probable that the market will come back after this shipment has got away as there are still plenty of potatoes about. The Government Statistician gives the total yield this year as 121,004 tons against 109,123 tons last year. There has been a rather better inquiry for undergrade fowl wheat this week and the price remains firmj Graded lines are not in great request, but there is a steady trade for this wheat a tprices which are unaltered. More oats are offering, and though the price has noe come back the market is weaker. Chaff has not been in request from the North Island and the demand is considerably weaker. Recent activity in small seeds has attracted heavier offerings and though the price has not come back the market is weaker. OTAUTAU STOCK SALE DAIRY CATTLE PRICES FIRM. The Otautau stock sale was held yesterday and there was a good attendance of farmers. There was a fairly large entry of cattle, comprising mostly dairy cows, cull cows and a few young cattle. Values for these were quite on a par with recent sales, and the bulk of the yarding was cleared at satisfactory prices. Best dairy cows realized from £5 7/6 to £5 17/6, medium sorts from £3 10/- to £4 5/-, and

culls from £2 to £2 15/-. Small yearling heifers made up to £l. Sheep.—A few pens of store sheep were offered, but the bulk of the yarding was comprised of f.m. ewes with a few pens of good wethers. Best 4 and 6-tooth wethers were passed in at 31/3. Good 2-tooth wethers sold at 26/- and a pen of Romney 2-tooth ewes brought 39/1. A pen of f. and f. ewes realized 39/1, a pen of f. and f. ewes 27/6, f.m. ewes in only fan- condition 14/-, 15/and 18/9, and a small pen of aged ewes and lambs (all counted) 9/3. Horses. —A few horses were entered, and good prices were realized for any in prime condition. Following were some of the sales:— The New Zealand Loan and Mercantile Agency Co., Ltd., sold 66 f. and f.m. ewes at 18/3, 25 m.s. hoggets at 19/10; 1 cow fourth calver, at £4 12/6, 1 cow, third calver, at £3 17/6, 1 at £4 10/-; 1 aged cow at £2 12/6; pigs, 1 at 21/-. The National Mortgage and Agency Co Ltd., sold 42 ewes at 39/1; 1 cow at £4 15/-, 1 at £3 10/-, 1 at £3 10/-, 2 at £7 7/6, 1 at £3 7/6, 1 at £3 10/-, 1 at £5 14/-, 1 at £3 5/-, 1 at £3, 1 at £3 7/6, 1 at £3 2/6, 1 at £3 7/6, 1 at £3 17/6, 1 at £3 5/-, 1 at £3 7/6, 1 at £3 7/-, 1 at £5 10/-, 1 at £5, 1 at £4 17/6, 1 at £3 5/-, 1 at £2 5/-, 2 at £2, 1 at £3 17/6, 1 at £3 15/-, 1 at £4 17/6; 5-year-old mare at £49, 6-year-old gelding at £49 10/-, 5-year-old gelding at £4B 10/-, aged gelding at £22, 4-year-old mare at £46, 3-year-old filly at £3l. Dalgety and Co., Ltd., sold 24 ewes at 36/4; 1 dairy cow at £4 12/6, 1 cow in milk at £3 10/-, 1 cow at £5 7/6, and 1 at £4 5/-; 2 breeding sows at 10/-. J. G. Watson and Co., Ltd., sold, 1 dairy cow at £5 2/6. The Southland Farmers’ Co-opera-tive Association, Ltd., sold, 30 ewes at 18/9, 2 hoggets at 26/3, 90 f.m. ewes at 14/-, 20 ewes and lambs (all counted) 9/3; 1 dairy cow at £4 17/6, 1 cow at £3 10/-, 1 at £3 7/6, 1 at £3 2/6, 1 at £2, 1 at £4 12/6, 1 at £3 10/-, 1 at £5 17/6, 1 at £4, 1 bull at £1 17/-, 3 yearlings at £1; 1 pig at 15/-, 2 at 14/-, 2 at £1; collar and hames at 10/-, 10/-, and 17/-; saddle and breeching at £3 1/-; winkers at 14/-, 12/- and 5/-; cover at 10/-; sledge at 12/-; 1 set of three-leaf harrows at £5 2/6; 1 plough at £ll 15/-; 1 set of discs at £8 15/-, 1 dray at £l2 10/-; netting at 18/-; bag of grass seed at 18/-; two collars at 38/- and 39/-. Wright, Stephenson and Co., Ltd., sold 1 steer at £2, 1 heifer at £3, 2 at £2 2/-, 1 at £2 11/-, 1 cow at £4 15/-, 1 at £3 12/6, 1 at £3 5/-; 1 mare at £2B, 1 3-year-old pony at £7 10/-, and one pony at £7 10/-. J. R. Mills and Son. Ltd., sold 36 wethers at 26/6, 30 ewes at 15/9, 39 ewes at 29/1; 3 pigs at £1 each, 2 at 17/6, 2 at 23/-, 1 at £l, 1 at 21/6, 2 at 28/-; 75 broadleaf posts at £2, 44 at £2 2/-, 70 stakes at 6/-, 4 lots of 50 posts at 21/- each lot. WYNDHAM STOCK SALE Dalgety and Co., Ltd., report as follows on the Wyndham stock sale:— Sheep.—There was a medium yarding of sheep consisting of breeding ewes with one or two pens of hoggets. There was a good demand for all classes and prices realized were equal to those ruling at other centres. A line of 4 and 6-th ewes realized 35/9, while aged ewes sold at from 19/- to 25/-. Ewes and lambs made their first appearance for the season, a small lot changing hands at 15/-, all counted. Cattle.—There was a large entry of cattle and the sale for fats was again good. Store cattle were also in demand and maintained late rates. A large entry of dairy cows met good competition. Young cows in good condition were in demand, but the sale was dull for aged and inferior sorts. Sales:— Sheep.—7B 4 and 6-th ewes at 35/9, 14 2, 4 and 6-th ewes at 25/3, 18 f.m. ewes at 25/-, 17 f.m. ewes at 19/-, 49 s.m. ewes at 34/3, 38 f.m. ewes 19/6, 32 ewes and lambs all counted at 15/-, 2 fat wethers at 40/-. Cattle.—l fat cow £5 5/-, 1 fat heifer £4 5/-, fat bullocks £8 12/6, £7 5/-, £6 10/-, fat cow £7 5/-, £7 2/6, fat heifer £4 2/6, store cows £1 10/-, £2 5/-, £3, dairy cows £9 2/6, £6 10/-, £5, £5 15/-, £5, £8 5/-. Pigs.—Three at £l. G. J. COLES’ DISPUTE SHAREHOLDERS DESIRE SETTLEMENT. (United Press Association.) Wellington, September 11. The Stock Exchange Association of New Zealand has received cabled advice that at a meeting of the directors of G. J. Coles, Ltd., a petition was presented on behalf of hundreds of shareholders, representing approximately a third of the total shareholding, asking that the present differences be settled immediately. A request from the managers and all the members of the staff throughout Australia expressing a desire for an immediate settlement of the dispute was also received. Letters were received from many broking houses urging an immediate settlement of the dispute. The basis of settlement requested in all cases was as follows: That Mi’ G. J. Coles be re-elected chairman of the company; that Mr A. W. Coles be reappointed managing director; that two additional directors be appointed to the board to represent the outside shareholders; and that, in future, figures relating to the directors’ remuneration be open to the shareholders. As this appears to be the wish of the majority of the shareholders, the directors are endeavouring to settle the dispute along these lines. Messrs A. W. Coles and F. P. Derham fully support the wish of the shareholders in this matter. WINTER CRUTCHINGS GROSS PROCEEDS AT WELLINGTON. (United Press Association.) Wellington, September 11. The Wellington Woolbrokers’ Association reports that the gross proceeds of the Wellington Winter crutchings sale in August was £46,702 7/8 at 8.681 pence per pound, or £l2 19/5 a bale, making a total of 1,291,1321b5. THE WHEAT MARKET (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, September 10. Wheat cargoes are quieter and lower. Parcels are easier. Futures. —London: October delivery, 34/lid; January, 34/5. Liverpool: October, 7/5 7-8 d; December, 7/5 l-8d; March, 7/2 l-Bd. The spot trade is quiet. Australian, ex ship, 40/-. DAIRY PRODUCE MARKET (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p m.) London, September 10. Dairy produce is quoted as follows:— Butter. September 3 September 10. Danish 126/- 127/- to 128/New Zealand — (choice salted and unsalted) 114/- to 115/- 109/- to 110/Australian 114/- to 115/- 109/- to 110/Cheese. New ZealandWhite 69/- 69/Coloured 66/- 67/Australian A. S. Paterson and Co., Ltd., Dunedin, [have received the following cabled ad-

vice from their principals, J. and J. Lonsdale and Co., Ltd., London:— Butter.—Market quiet; a poor demand. New Zealand, 110/-; Australian, 109/-; Danish, 107/-; landed cost, 128/-. Cheese.—Market slow and easier. White cheese, 68/-; coloured, 66/- to 65/6. UNITED STATES MAIZE CROP SMALLEST IN FIFTY-FIVE YEARS. (United Press Assn.—Telegraph Copyright.) (Rec, 7.35 p.m.) Washington, Sept. 10. A maize crop of 1,458,000,000 bushels was predicted by the Department of Agriculture to-day, on the basis of conditions on September 1. This is onethird per cent, above the estimates of August 1, but it will be still the smallest crop in 55 years. A yield of 630,000,000 bushels of wheat, barely enough to meet domestic requirements, is predicted. NEW GUINEA GOLD SHARES (United Press Assn.—Telegraph Copyright.) (Rec. 5.5 p.m.) London, September 10. New Guinea Gold shares are quoted at 3/9. MINING REPORTS KING SOLOMON RETURN. The return at the King Solomon mine this week was 340 z 14dwt for five days’ wash.

nrices ruling last week:— Sept. 10 d Sept. 3 d £ s £ s British — Consuls 84 15 0 85 0 0 Funding Loan, 4 p.c. 118 10 0 118 15 0 War Loan. 3’,'z p.c. 107 5 0 107 0 0 Con. Loan, 3V 2 p.c. 107 5 0 107 0 0 Victory Bonds 4 p.c. 115 0 0 115 0 0 Commonwealth — 5 p.c., 1945-75 111 5 0 111 15 9 3 p.c., 1955-53 102 2 6 102 2 6 4 p.c., 1943-43 106 2 6 106 7 6 3% p.c., 1948-53 104 1 3 104 1 3 3*/ 2 pc., 193G-37 99 15 0 99 7 6 3% p.c., 1956-60 95 11 3 95 10 0 New South Wales— 3% p.c., 1930-50 101 11 ■3 101 10 0 4’,2 p.c., 1935-45 99 17 6 99 17 6 Victoria— 3 p.c., 1929-40 99 0 0 99 5 0 4% p.c., 1940-60 106 5 0 106 5 0 5 p.c., 1945-75 111 10 0 111 11 3 3 p.c., 1922-47 99 0 0 99 2 6 Queensland — 5 pc., 1940-60 South Australia — 3 p.c., 1916 or after 107 6 3 107 7 6 88 18 9 88 15 0 3 p.c., 1945-75 111 10 0 111 8 9 4 p.c., 1942-62 103 17 6 103 7 6 Western AustraliaTasmania — 31/ 2 p.c, 1920-40 102 10 0 102 10 0 4 p.c., 1940-50 New Zealand — 102 17 6 102 13 9 p.c., 1948-50 107 1 3 107 1 3 1940 102 13 9 102 12 9 4 p.c, 1945 100 2 6 100 2 6

Buyers £ s. d. Sellers. £ s. d. Stock. 3| p.c., 1938-43 103 10 0 Stock, 3J p.c., 103 10 0 1933-53 Stock. 34 p.c., 1939-43 Stock. 3A p.c.. — 103 10 103 10 0 0 1939-52 Stock, 4 p.c., 1940 Bonds, 4 p.c., 1940 Stock, 4 p.c., 1946 — 101 10 101 10 103 10 0 0 0 Bonds, 4 p.c., 1946 103 10 0 Stock, 4 p.c., 1949 105 5 0 Bonds, 4 p.c., 1949 105 5 0 — Stock, 4 p.c., 1955 Bonds, 4 p.c., 1955 105 5 105 5 0 0 Banks. 0 Australasia Commercial 0 18 o V 10 8 Commercial, pref. 9 0 0 4 p.c. (cum.) National of Austra — National of New 14 10 0 Zealand 3 0 6 «> 2 9 N.S.W. New Zealand 1 19 0 33 0 0 Union of Australia 9 9 b y 14 6 Breweries. N.Z. Breweries 2 12 1 15 2 15 6 0 9 (shares) Staples’ Brewery Tooth’s Brewery Coal. 0 Kaitangata Westport Coal 1 3 3 Insurance. National New Zealand 0 18 3 2 0 6 0 18 5 Loan and Agency. Dalgety and Co. 9 2 6 1 13 3 Goldsbrough. Mort and Co. Wright, Stephenson (pref.) —— 0 18 6 Meat Companies. N.Z. Refrigerating(10/- paid) Southland Frozen 0 9 2 0 9 5 Meat. — (£1 ord. and pref.) 3 0 Shipping. Union Steam Ship ■” Co. (pref.) P. and O. Stock 1 6 1 11 0 0 — Woollen Mills. Bruce n 14 6 Kaiapoi (ord.) Miscellaneous. 0 Associated JNews 1 o Australian Glass Broken Hill Pty. 4 12 3 17 0 0 4 16 6 British Tobacco 2 1 3 18 8 0 (Aust.) G. J. Coles 3 19 0 Dominion Rubber' Co. 1 8 0 Dunlop Rubber (Aust.) 0 18 0 c 1 18 5 1 Hume Pipe (Aust.) Milburn Lime and 4 Cement 3 15 l1 0 0 5 0 6 7 — N.Z. Drug N.Z. Farmers’ Ferti — lizers N.Z. Guarantee , Corporation 6 N.Z. Paper Mills 1 6 o 1 7 Mining. Broken Hill South 6 0 0 1 Gillespie’s Beach 0 1 41 0 7 Kildare o King Solomon o 1 Martha Goldmining 0 18 0 — Mount Lyell 1 9 6 0 13 1 o o Mount Morgans Okarito ; 0 11 1 o 2 3 Waihi Investments Waitahu 101 Waimumu o 0 Waipapa Q 1 Big River Electrolytic Zinc 0 1 10 0 2 3 (ord.) ' 1 19 6 2 1 0 (pref.) 9 Unlisted. Woolworths (Sydney) 5 9 0 — Shillings Ltd. — 0 14 9

AUCKLAND. £ s d Stock 1955 4 p.c. 105 17 6 Bank of New South Wales 32 10 0 Union Bank of Australia 9 10 0 New Zealand Insurance 3 3 0 Traders’ Finance (cont.) 5 0 United Building (Auckland) I 0 9 Kauri Timber 1 3 10 Tooth’s (2) 2 16 3 British Tobacco (2) 2 2 0 do. 2 2 3 Broken Hill Propty. 3 17 6 do. 3 17 3 do. 17 9 do. ■ > 17 6 Consolidated Brick 9 4 Electrolytic Zinc 2 0 o do. — 0 9 do. (pref.) 2 3 6 Gear Meat 18 0 G. J. Coles 4 0 0 do. 4 0 3 Henry Jones 2 2 0 Milne and Choyce (B pref.) (2) 1 3 6 New Zealand Newspapers 2 0 0 Wairakei 6 0 Golden Crown 4 6 Martha 18 6 Waihi Investment 11 0 do. 10 10 Mount Morgan 13 2 do. 13 1 Unofficial. Auckland Trotting Club 1939-44 6‘/ 2 P-c. 101 10 0 Selfridges (Australasia) 1 8 3 Woolworths (Syd.) ■> 9 0 WELLINGTON. £ s d General Industries 19 0 Cash Orders Amalg. (pref.) 1 10 6 New Zealand Insurance 3 2 9 Tooth and Co. 2 16 2 Broken Hill Propty. (3) 3 17 0 do. (2) '> 17 9 do. (contrib.) 2 16 9 Electrolytic Zinc (ord.) 2 0 6 Consol. Brick 9 4 G. J. Coles 4 0 0 do. (2) 4 1 0 Amalg. Wireless (£1 paid) 2 9 6 King Solomon 1 1 CHRISTCHURCH. £ s d Commercial Bank of Australia (2) 18 3 Goldsbrough Mort 1 13 6 do. 1 13 7 do. 1 13 8 do. 1 13 9 New Zealand Breweries (2) 2 12 9 Anthony Hordern 18 7 British Tobacco (cum. div) 2 2 3 Broken Hill Propty.. 3 17 0 Dunlop Rubber (cum. div.) (3) 18 2 Electrolytic Zinc (pref.) (3 p.c., div.) 2 3 5 do. 2 3 6

do. 2 3 5 General Industries 19 4 G. J. Coles (2) (cum. rights) 3 19 9 New Zealand Newspapers 2 0 0 Antonios Hydraulic Maori Gully V/'a Worksop Extended 1 10 Mount Morgan (2) 13 2 Sales Reported. Bank of Ne,w Zealand 1 19 4 National Insurance 18 3 G. J. Coles (cum. rights) 3 19 9 New Zealand Newspapers (odd parcel) 0 0 Mount Morgan 13 2 do. 13 1 Broken Hill Propty. 3 17 9 Unlisted. Selfridges (Australasia old) 1 7 4 Selfridges (Australasia new) 1 7 0 DUNEDIN. £ s d Goldsbrough Mort (Thursday) 1 13 8 Westport Coals (4) 1 3 0 Broken Hill Propty (Thursday) 3 17 6 Electrolytic Zinc (ord.) 2 8 0 Mount Morgan 13 1 Okarito 5 0

£ s d Bank of New South Wales 33 o 0 Commercial Banking Company of Sydney 19 13 0 Queensland National Bank 5 3 0 Colonial Sugar 43 o 0 Automatic Totalisators 19 0 Adelaide Steam 1 9 6 Howard-Smith 19 3 Bums Philp ;; 13 0 British Tobacco 9 Tooth’s 2 16 9 Carlton Brewery 0 0 Goldsbrough Mort 1 14 3 Fairymead Sugar 1 15 0 Electrolytic Zinc — 1 6 Newcastle Gas (B and C shares) 12 1 Claude Neon 2 11 0 Hume Pipe 19 9 Jantzen (pref.) 1 4 0 Peter’s ~j 6 Amalgamated Wireless (cont.) 1 0 Warburton Franki 1 0 6 Morts Dock 12 0 Sargents 1 9 3 Mark Foy 1 13 6 Woolworths (ord.) — Buyer 5 9 0 Seller 5 10 0 Woolworths (New Zealand)— Buyer 4 17 6 Seller ■ i 6 Mount Morgan 13 iBroken Hill Propty. 3 18 6 do. (new) 2 17 3 South Broken Hill 6 3 0 North Broken Hill 10 0 0 Bulolo Deposits 1 9 Rawang Tin 9 5 Peninsula Tin 1 4 0 Briseis Tin o 9 Mandated Alluvials 1 18 0 Melbourne Sales. Bonds were easier. The industrial market was firm, assisted by the Government’s announcement of tax remissions. £ s d Commercial Bank of Australia 18 8 E.S. and A. Bank 18 0 National Bank (£5 paid) 7 4 0 Adelaide Steam 1 9 0 Howard-Smith 19 4 British Tobacco 2 3 0 Carlton Brewery *> 0 *; G. J. Coles 4 1 6 Goldsbrough Mort 1 14 0 Electrolytic Zinc 2 9 do. (pref.) - 3 9 Mount Morgan 13 1 Mount Lyell 19 IV2 Broken Hill Propty. 18 0 North Broken Hili 9 19 6 Zinc Corporation 4 1 6 Emperor 15 7 Loloma 1 1 9 Myers 1 15 G Irowat kJ 1 Upper Watut J 8 Wellington Alluvials 4 Hume Pipe 19 9

Par. To-day. Paris, fr. to £ 124.21 76 51-61 New York, dol. to £ 4.886 5.05% Montreal, dol. to £ 4.886 5.05% Brussels, belgas to £ 35 29.93 Geneva, fr. to £ 25.221 15.52 % Milan, lira to £ 20.43 61% Berlin, rmk. to £ 24.42 12.58 Stockholm, kr. to £ 18.159 19.39% Copenhagen, kr. to £ 18.159 22 Oslo, fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 26% Prague, kr. to £ 164.25 122% Helsingfors, m. to £ 103.23 227 Madrid, pesetas to £ 22.15 57% Lisbon, escudos to £ 110 110 3-16 Athens, dr. to £ 875 530 Bucharest, lei to £ 318.6 677 Belgrade, dinars 275.31 221 Rio de Janeiro, p. to milreis 8.892 4% Buenos Aires, p. to dol. 45.577 36 Montevideo, p. to dol. 57 39 9-16 Bombay, p. to rupee 10 181'2 Shanghai, p. to dol. — 14 13-32 Yokohama, p. to yen 24.57 14 1-16

Sept. 9. Sept. 10. £ s d £ s d Copper— Standard, spot . 38 9 412 38 19 4 >/ 2 Forward 38 14 4’i 39 4 4',2 Electrolytic <13 0 0 43 0 0 to 43 1 0 43 0 0 Wire bars 43 0 0 43 10 0 LeadSpot 17 18 9 18 5 0 Forward 17 18 9 18 o 0 Spelter— Spot 14 0 0 14 t) 0 Forward 14 6 3 14 10 0 TinSpot 191 17 6 195 12 6 Forward 194 □ 0 192 2 6 Silver— Fine, per oz. 19 9-lGd 19>' z d Standard, per oz. 21 21 1 -16d

Quotations: — Aug. Aug. Sept. Sept. 20. 27. 3. 10. Per lb. Per lb. Per lb. Per lb. d. d. d. d. 70’s 34 34 34 34 64’s 321/a 321/2 321/2 321/2 60's 311/2 311/2 311/2 311/2 58’s 251/2 251,2 251/2 251/2 56’s 201/2 2OV2 201/2 201/2 50’s 16 16 16 16 46’s 141,4 141/4 141/4 14i,i 44’s 131/2 131/2 13'/ 2 131/2