FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 714, 13 July 1929, Page 10

FINANCE & MARKETS

A BUOYANT MARKET Healthy Trading on 'Change By "Noon Call.” HEALTHY trading was recorded on 'Change this morning right up to the close. The market for all the betterclass securities remains very iirm.

Fluctuations Price movements, shown by a comparison of sales over the past 24 hours with the price at the time of the previous recorded sale, include: Waihi Mining, rise of Id. Mount Lyell Mining, rise of 3d. Sanford, Ltd., rise of 3 2-5 d (amount of the final dividend). N.2. Guarantee Corporation, fall of sd. N.Z. Breweries, rise of 10d. Electrolytic Zinc (pref.), rise of 6d. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours include: Yesterday Afternoon.—Commercial Bank of Australia (pref.), £7 10s; New Zealand Breweries, 70s Id; Auckland Gas, 24s fid; Electrolytic Zinc (pref.), 37s fid; Sanford, Ltd., 18s 3d; Waihi Mining. 12s Id. Business This Morning.—On Change; Mount Lyell Mining, 43s 9d; New Zealand Breweries (deb.), 26s 9d (two parcels). Reported: New Zealand Ouaranteo Corporation, 9s sd; New Zealand Inscribed Stock, 1932, 5t per cent.. £99 12s 6d. * * * N.Z. Guarantiee Corps. Easier The market for New Zealand Guarantee Corporations, which touched 10s in June, has an easing tendency, sales taking place this morning at 9s sd, compared with the previous recorded market price of 9s lOd. At this morning’s price the return on investment is approximately £ 7 Is Sd per cent. * * * Movements at Morning Call Commercial Banks held their recently improved strength. Taupiri Coals were very firm, with a middle price of 27s 6d, but no business was recorded. Renown preference were, if anything, a little easier, holders asking 3s, compared with the last recorded sale toward the end of June at that price. Kauri Timbers met with a slightly better demand, buyers offering ISs 3d, compared with the last recorded sale at 18a. Farmers’ Fertilisers are very firm, moving to new recent high levels yesterday afternoon, after considerable activity in the South. On the Auckland market this morning buyers offered 23s 3d, compared with a market 7\.x 22s 6d when the week opened. At 23s 3d the return is approximately £6 17s Sd per cent. Sanford’s, Ltd., are also in better

tone, selling yesterday afternoon, ex div., at the cum. div. price. Further Advance in Mount Lyells A further advance took place in the market for Mount Lyells this morning, when sales were made in the call room at 43s 9d. The market for this scrip has risen approximately 2s over the past fortnight. One of the reasons for the increased strength of the market is undoubtedly the movement over the other side of the Tasman to amalgamate the fertiliser interests, which provide a substantial source of income to the Mount Lyell Company at the moment. The Commonwealth Fertilisers and Chemicals, Ltd., has been registered in Victoria with a capital of £7,000,000 in £1 shares. The objects of the company are officially stated to be the acquiring of the undertakings of Cuming Smith and Co., Wischer Ltd., Nobel (Australasia) Ltd., and the Mount Lyell Mining Co., Ltd.. Market for A.P.A.'s Holds Very Firm The market for Australian Provincial Assurance scrip holds very firm on recent improved levels. This scrip has been active on the Sydney market for several weeks, and most of the weak holders have apparently sold. Last year’s results showed a distinct improvement over those of the previous year in every department. Nevertheless, a very conservative dividend policy was adopted, but the market across the Tasman apparently holds the view that the management Is now on the right lines, and that better dividends can be expected in the near future. One factor which it seems will tend to prevent big dividends, however, is competition from mutual life firms such as the A.M.P., companies which return the greater part of their profits to policy-holders. The A.P.A. cannot expect to operate both ways—satisfy shareholders with increasing dividends, and increase the number of its policy-holders by meeting competitors on the question of bonus distributions. * * * Calls and Dividends Calls and dividends are due as follow: Dividends— Due Waihi Grand Junction—ld a share j u i y 1SElectrolytic Zinc, 6 p.c., ord. and pref. (final) Sept. 6 N.Z. Insurance, lid per share (final) August 6 Calls— Lucky Shot—3d a shave .. . July 22. Alburnia—2d a share .. .. July 31.

TO-DAY’S QUOTATIONS

Closing Quotatolna at to-day*® mid-day call were:—

, FEILDING STOCK SALE 2’ i ess Association FEIL.DING, Friday. There were large yardings of all classes t'f stock for the Feilding sale and 1,400 fat sheep were offered. Woolly lambs made 31s Od to 30s; black-face lambs. 2')s to 2 Vs; far ewes, 21s to 2Ss; fat wethers, 32s to 36s 6d; two-tooth Romney ewes, in lamb to Romney rams, 45s fid: two-tooth to four-year ewes running with Southdown rams, 26s Td; stud Romney ewes, in lamb, 41 si four and five-year ewes, 23s to 34s 4d. two and four-tooth ewes, 3<>s id to 325; empty middle-aged ewes, l*s Od to IDs sd; black-face hoggets. 25s 7d; wethers, IDs 5d to 25s 7d. There was a good demand for dairy rowv but heifers were hard to quit. Springing cows made up to £l3 10s: a choice small line of heifers in calf made £l3 10s to £l4. Fat cows made up to £S; fat heifers to £l2 15s; bullocks to £ll los; store empty heifers, £2 10s to £4 IDs; cows, £3 12s 6d to £4 2s 6d. CHICAGO WHEAT MARKET / Australian and X. 7.. Press Association) n.-'d. » 5 a m CHICAGO, Friday. Wh'at.—July, 1 dollar 23 3-S <»nl* a Sepirmhrr. 1 dollar 2S’, c*-,u 3 - litcerabor, 1 dollar Si i-& oenu.

BUTTER AND CHEESE Merchants report receipt of overseas cables as follow: Leonard and Son, Ltd., from their London principal. A. C. Rowson, under date July 11:—"Butter, 170 s; market easier.” Dalgety and Company, Ltd., from its London house, dated July 12:—Samuel Pape and Son report: “The total imports of butter into the L'nited Kingdom last month were 611,000 cwt., as compared with 632.000 cwt. for the corresponding period of last year.” KOKIANGA DAIRY COMPANY A total of 527 tons of butter compared with 659 tons during the previous season was manufactured by the Hokianfta Co-op. Dairy Company during the season just closed. Advance payments to suppliers totalled £103.143 18s Id. averaging 16.2025 d a lb. A further sum of £9,229 17s Id would be available for bonus and dividends. When all returns had been finalised the return to suppliers at the factory door would exceed Is 6d a lb for first grade.

POTATO MARKET EASIER POSITION IN CANTERBURY (United Service) CHRISTCHURCH, Friday. The excitement that featured the midweek potato market has quietened down. The scale of values, however, has not eased much from the figures then quoted, except in regard to July delivery. These are now at £6 12s 6d, as against £6 15s. Potatoes for prompt delivery are now quoted at £6 10s, f.0.b., s.i. However, these had. touched £6 12s 6d, so that the market is about 2s 6d a ton easier than the peak figure. August-Septembers did not participate in the rise, and are quoted at £6 15s to £6 17s 6d. Auckland merchants are not inquiring in such volume as in the mid-week. The Wingatui is loading on Tuesday, and the market no doubt will be ruled by the extent-of her cargo. The appreciation on values of ten days ago equals nearly 20s a ton. Quotations on trucks are £5 5s to £5 7s 6d for Whites, with growers not attracted by the former figure, and £6 for Dakotas. The wheat market is stagnant. Millers have ample supplies for some time to come, and the stores are carrying a big quantity. Quotations remain at 5s Sd on ti-ucks. The little life the oats market showed a week or two ago has flickered out. A grade Gartons are worth 3s 4d, f.0.b., s.i., for July, and 3's 3s 3d for spread delivery. Chaff remains firm at £-4 to £4 2s 6d a ton on trucks. A little business is passing in seeds, but in small parcels. Standard cocksfoot has been sold at 13d a lb. Perennial ryegrass is not heavily held, and good seed is worth 6s 6d, f.0.b., s.i., or 4s 6d to growers. Italian is worth 5s 9d, or 3s 9d to 4s to growers. The quality of cowgrass is very mixed. It is quoted at 5d to 7d to growers, or 90s to 100 s a cwt, f.0.r., s.i. White clover is worth 9d to 32d a lb. The value f.0.b., s.i., is from 130 s to 140 s a cwt. All classes of small seeds are firmly held, but not much business is expected until the spring demand sets in. MINING NEWS WAIOMO SULPHIDE CORPORATION. —The manager reports:—The main rise from No. 5 level is up 45ft with neither wall of the lode exposed. Progress has been retarded by insufficient air but the new air compressor will be in commission within the next two weeks, and this will enable the operation simultaneously of four rock drills. Preparations are being made to commence operations on the Birthday reef, which is identical with what has been called No. 2 reef. In this section the ore is free-milling and gold is often visible in the stone. The construction of the mill Is well advanced and it should be ready to operate by the end of September next. Tenders are being called for the installation of the aerial tramway. OH IN EM URl.—The following is a progress report for the period ended July 6:— In the north section of No. 4 level, the drive south on the Camoola reef is along 176 ft. A nice face of ore is exposed for the width of the drive, with neither wall in view. The drive south on the Silver Queen reef has been extended 40ft, making a total of lS2ft. High grade ore has been carried with the drive, and where both walls are exposed the reef was 9ft wide. In the south section of the No. 3 level the drive on the Camoola reef has been extended 21ft, making the distance southward of the main x-ise 301 ft. The quartz on the hangingwali is not payable. A crosscut is being put out to the footwall, where good ore was carried in the vicinity of the main rise. At a point 750 ft southward of the main crosscut at this level a orqpscut is being projected from the hanging wall country into the Camoola lode. Good ore is exposed here. The tramway connection with the mill has, with the exception of two culverts, been completed. The construction of the milling plant is being accelerated by the employment of an extra shift with a view to the commencement of miling toward the end of August.

LADIES DELIGHTED NEW SCIENTIFIC PRODUCT Nowadays so much depends upon one’s appearance, and particularly as regards the skin, that any new development to retain that beautiful velvety freshness is of vital interest. Fresh air, of course, is of primary importance, but one must wash, and it is in the application of cheap, poor qualities of soap where so much damage is done to the texture of the skin. Years of scientific work have brought forth, better soaps, and probably the foremost of these is the “Plunkette” soap—a product specially devised to play a leading part in skin preservation. This makes it ideal for ladies’ personal use, and for use in the nursery. As might be expected, the new product has been welcomed everywhere. “Plunkette” soap is as good as science can make it. It is blended with the purest oils, and is so gentle and cleansing that it leaves the skin refreshed, lovely, and soft. Again, the men have also taken an interest in this new line on account of its beneficial effects, and the fact that it makes the most delighful shaving soap, giving a beautifully soft, lathering foam. Being also delicately perfumed, it meets the most exacting requirements for a really refined toilet soap. It is truly economical because it lasts to the end. The “Plunkette” soap exhibit at the Winter Show is one of the prettiest and most attractive of the stands, and during the past few days it has been a continual source of interest to practically every visitor. This special and highly desirable product is procurable from all chemists.

THE DOMINION’S TRADE EXCESS OF EXPORTS BALANCE OF £9,73«,741 A favourable visible trade balance of £9,736,741 is revealed in the returns of exports and imports for the year ended June, 1929. Returns of overseas trade in June were issued by the Customs Department in Wellington yesterday, the details compared with those for June of last year being as follow: June. . 1929. 1928. Increase. Exports . £4,137,774 £3,276,223 £861,551 Imports . 3,425,365 3,161,038 264,327 Excess . £712,409 £115,185 £597,224 The month’s exports were exceptionally heavy, the valuation being the highest in June since 1923. While imports show an increase over the previous June, the total is otherwise the lowest for the month since 1922. The year opened with record exports in the first quarter, but by the end of May the total was aoout £SOO,OOO below that for the first five months of 1928. The retrogression has now been balanced, the figures for six months showing an increase of £56,000. Following are comparative statistics for this period in recent years:—

As the 12 months ended June 30 correspond most nearly with the season of production, the trade returns for that period are the most instructive indication of the condition of the country's commerce. With the returns now issued, a statement for the 1928-29 production year can now be presented in comparison with those for previous years as follows: Year to

FLATS FOR BACHELORS PROSPECTUS ISSUED With, the object of providing a set of tasteful single-roomed bachelpr apartments in Auckland, the firm of Marlborough Mansions, Ltd., has issued a prospectus with full details of the attractive proposal. Marlborough Mansions, a building six storeys high, will be built on a section of land in Vincent Street opposite St. Matthew’s reserve. It will stand next to the Hampton Court flats, and its sole object will be to provide bachelor apartments at reasonable rental. Each apartment is to consist of a completely furnished bed-living room with the addition of an entrance hall, dressing alcove and separate bath*room. All the apartments will have disappearing wall beds which will be screened by a door when not in use. Ample cupboard space is provided, and each apartment will have Its own service hatch and other domestic conveniences. There will, in addition, be an automatic hot water supply, and electric heating for the sitting room. These many amenities, combined with effective furnishings, will make the apartments much preferable to boardinghouse existence. The building, which has been designed by Mr. Surrey S. Allemaji, A.N.Z.1.A., will be of reinforced concrete construction with cavity brick walls, finished with facing brick, imitation stone dressings and tinted plaster insets. The total estimated cost of the building is £29,000, and the purchase price of the land is £5,000. Furnishing is estimated at £2,500, making the total cost £36,500. The authorised capital of the company is £20,000, in 20,000 shares of £1 each. Of these it is proposed to issue 14,000 forthwith and 2,500 in three months’ time. The balance will be held in reserve for future issue. The debenture issue will produce £20,000, thus covering the amount required. The estimated gross income will be £5,220, made up of rental of £5,12.0, a conservative estimate, plus interest on cash rental in hand.

SUCCESSFUL CLEARING SALE The New Zealand Loan and Mercantile Agency Company, Ltd., Hamilton, reports:—We held a clearing sale at Paterangi on Wednesday last, on account of Mr. S. Smith of his choice tested dairy herd of 90 cows, 25 springing heifers, etc. There was a large attendance of buyers, and keen competition ruled throughout and most satisfactory prices were realised, the whole herd making the excellent average of £ls 5s a head. The top price was naturally secured for the Jersey cross cow “Violet,” with a record of 2,0091 b of butter-fat over three consecutive seasons. She was purchased by H. Stimson, of Hamilton, at £36. Young cows showing high production made from £2O to £2S 10s, other cows according to age and records, £l2 to £l9; springing heifers, £ll 10s to £l6; aged Jersey bull, “Maiden’s Gay Earl,” 33 guineas. CANADIAN WHEAT CROP (Australian and y.Z. Press Association) (United Service) Keccl.9a.rn. WINNIPEG, Friday. The Canada wheat crop is only 65 per cent, of the normal, due to an excessive drought in all three provinces, according to the crop statement of the Canadian wheat pool. COUGHS AND COLDS DO NOT NEGLECT THEM Never neglect a cold. Tackle it right at the start. Here is a recipe easily prepared at home that gives relief and comfort from the first dose and saves money. Add to one bottle of HEEKZO (Hean’s Essence) the necessary treacle, sugar and water as per easy directions on the HEENZO label and you have one pint of really good cfugh, cold and sore throat remedy. It is pleasant to take, is warming, soothing and comforting. This means a saving of at least 35s for your pocket, and that is worth thinking about. lIEENZO can be obtained at all chemists and stores for the price of :1s

PIG MARKETING WAIKATO CONCERN’S SUCCESS j (From Our Own Correspondent J HAMILTON, Friday. | During the last season the New Zea- i land Co-operative Pig Marketing Asso- ! ciation handled 43,000 pigs, an increase of 50 per cent, over the previous figures. The turnover for the year totalled £150,000. Referring to the position yesterday, Mr. S. H. Judd, chairman of directors, said it was proposed to reorganise the association with a view to eliminating some of the weaknesses that were inevitable in a concern which had no capital. It was proposed to form a new company with a capital of £25,000, divided into 2s shares. As the individual shareholding would be small, no interest would be paid. An effort would be made to register the company under the Dairy Industries Act. The provision of capital, said Mr. Judd, would enable a standard advance payment to be made at all times and on all classes of supply.' Further, it -would enable final payments to be made more quickly, as it would be utilised for this purpose. Also, being replaced several times yearly on the receipt of proceeds of sales, it would be so utilised several times during the year. AUCTION NOTES Acting upon instructions from the Guardian, Trust and Executors Company Messrs. Rutherford, Robinson and Austin will sell by public auction on 'Wednesday, August 7, at 2 o’clock, at their rooms, Lister Building, Victoria Street East, the eight-roomed two-storeyed re- I sidence of the late Mrs. Hugh Campbell. This is one of Remuera’s most beautiful homes, having a frontage of 172 ft. to Arney Road, and a magnificent uninterrupted harbour view. Messrs. Rutherford, Robinson and Austin, acting upon instructions from the executors and Mrs. Butcher, will sell by public auction at their rooms, Lister Building, Victoria Street East, a beautiful Remuera home, also situated in Arney Road, the nine-roomed residence of the late Mr. F. E. Butcher. The sale will take place at 2 o’clock on Wednesday, August 7. Acting upon instructions from the executors of the late Thomas Reynolds Teape, Messrs. Rutherford, Robinson and Austin will sell by public auction at their rooms, Lister Buildings, Victoria Street East, on W T ednesday, July 17, at 2 o’clock, "Rockside,” an eight-roomed residence with every convenience, situated at 463 Mount Eden Road, near Grange Road, and vacant section adjoining the property, now used as tennis court. Area, 66ft x 198 ft approximately. Messrs. Rurtherford Robinson and Austin will sell by public auction on Friday, July 26, at 12 noon, at their rooms, Lister Building, Victoria Street East, a city freehold situated in Federal Street, between Victoria and W T ellesley Street, with 53ft 6in frontage by a depth of 108 ft. Palethorpe and Parkes, acting under instructions from absentee owner, will offer for sale by auction at their auction rooms, 1 and 2 Veinstone Buildings, Queen Street, a beautiful Herne Bay garden home on magnificent corner section overlooking the harbour, on Friday, July 19, at 11.30.

Buyers. Sellers. £ s. d. d. BANKS— A ust. of Commerce 1 lfi 0 0 Com. of Australia . 1 9 10 1 Ditto (con.) .. .. 0 19 Ditto (pref.) .. . . 7 S K 7 12 0 Eng., Scot, and Aust. S 9 0 S 1 t 0 Nat. of Australasia 19 13 0 Ditto (con.) . . . . 9 0 New South Wales . 51 7 K 51 15 0 New Zealand .. 1 1 9 Ditto (D Mort.) „ I 3 0 i 9 Union of Australia . 15 11 K — INSURANCE— 0 12 0 National .. .. . . .. 0 IK 1 ft IK New Zealand n K Queensland o 3 6 3 4 6 LOAN AND AGENC1— Abraham & Williams (pref.) 4 S 0 Farmers’ Corop 0 Ditto. B (pref.) . 0 17 0 Goldsbrough. JVIort 7 .9 X.Z. * River Plat© 1 21 1 12 0 N.Z. Guar. Corp. . 0 9 0 9 9 Loan and Merc .. .. 123 0 0 Ditto (pref.) .. . . 80 0 0 N. Auck. Farmers’ Co-op. (ord.) .. .. 0 9 Ditto (B pref.) .. 0 li 6 0 14 0 Wright. Stephenson and Co 1 4 6 — COAL.— Grey Valley 1 3 4 1 4 3 Hikuranga (pref.) .. 0 4 0 0 6 6 Ditto (A pref.) .. 0 0 0 4 0 Renown 0 lo 0 Ditto (.pref.) .. .. 0 11 0 3 0 Taupfri 1 7 0 1 S () Ditto (pref.) .. .. 1 3 ■\\ aipa . . .. .. .. .. 0 12 (»• Westport 1 12 3 — GAS— Auckland 1 4 4 1 4 9 Ditto (con.) .. .. 0 IS 0 18 G Gisborne 0 12 0 0 13 0 SHIPPING— Devonport Steam .. 1 1 9 1 p, 0 Huddart-Parker 5 K K 0 Ditto (pref.) .. .. 1 0 Northern Steam 0 14 0 15 0 Ditto (con.) .. .. 0 K 6 0 7 0 r. *= O. (def. stk.'i 0 6 Union Steam (pref.) 1 0 6 — TIMBER— Bartholomew 1 0 0 Kauri Timber . . .. 0 IS ft 19 6 Leylund-G'Brien . . 1 13 0 National 0 S 0 0 9 0 Parker-Lamb .. .. — 0 IS 0 WOOLLEN— 'Wellington 7 3 0 7 K 6 Ditto (pref.) .. .. 7 6 0 — BREWERIES— «\ L. Innes (pref.) 1 0 0 N.Z. Breweries .. .. S IS 6 4 0 0 A1I SC EL LAN F.O U S— Adair Bros 1 1 K Auck. Amuse. Park 0 1 0 ft l 6 Ditto (pref.) 0 12 0 Aust. Glass 13 0 Booth, Macdonald < ord ) 0 1 9 ft 0 Ditto (pref.) .. .. (1 0 British Tobacco 2 8 0 2 9 0

Buyers. Sellers. Bycroft, Ltd 1 12 9 l 16 Checker Taxi .. .. 0 1 6 Colonial Sugar .. .. 57 10 0 5S 0 Dominion Pictures.. 0 6 Ditto (pref.) 1 0 fi Donaghy's Rope 1 14 6 Dunlop Rubber 1 7 6 Electrolytic Zinc (ord.) 1 16 0 Ditto (pref.) .. .. 1 16 9 1 17 9 Farmers’ Trading . U 8 0 0 8 4 Ditto B (pref.) .. ll 12 0 14 0 Gear Meat 3 0 Grey and Menzies . . 0 11 0 Henry Jones Co-op. 1 14 0 H.M. Arcade (pref.) 1 0 D Kempthorne Prosser 3 14 6 Lewis Eadv (ord.) . 1 1 0 Ditto (pref.) .. .. 1 0 0 Milne and Choyce . 1 6 8 Ditto (pref.) .. .. 1 6 8 Ditto B (pref.) .. 1 6 8 Ditto (deb. stock) 1. 6 7 1 6 9 X.Z. Express (pref.) 0 17 0 X.Z. Farmers’ Fert. 1 3 1 3 a N.Z. Paper Mills 1 0 0 1 0 Phillipps and Impey . 17 6 Robinson Ice Cream L 2 9 Sanford, Ltd 0 18 0 0 19 6 Ditto (pref.) . . , . 0 19 6 1 1 0 Sharland and Co. . 1 0 0 1 1 6 Ditto (pref.) .. .. 1 0 0 S. R. Maxwell & Co 0 4 6 0 10 0 Taranaki Oilfields . 0 11 0 3 3 Thames Theatre .. 0 10 0 0 17 0 Tonson, Garlick 0 4 0 0 6 6 I.nion Oil 4 0 Vic. Nyanza Sugar 6 U "Wilsons Cement • • 2 2 0 — MINING— Alburnia (2s lOd pd) 0 0 10 0 2 0 Moanataiari (con.) 0 0 6 Lucky Shot (4s pd.) 0 0 105 0 1 6 Ditto (con.) .. .. 0 0 4 0 1 3 0 8 6 0 8 10 Waihi 0 11 11 0 12 3 Walhi Grand June. 0 1 0 .Mount Lyell .. 6 2 9 Kuala Kampar Tin 0 13 0 0 14 0 DEBENTURES — Auckland Gas, 1932, 0 0 Auckland Har. Bd., 99 0 0 Ditto. 55 p.c lot 0 Ditto, 6 p.c 103 0 0 City of Auckland, 11*40 5J p.c 99 0 ft Ditto, 1936, 5i p.c. 99 0 0 Ditto, 1943. 55 p.c. 101 0 0 Bor. of Devonport, 103 0 0 Boro, of Mt. Eden, 6 P-C 104 0 0 N.Z. Breweries .. .. 1 6 8 1 6 11 Gisborne Sheepfarmers 97 0 0 — GOVERNMENT BONDS— War Loan. 1938, 45 100 0 0 Ditto. 3 939, 45 .. 100 0 0 — Ditto. 1941. 45 .. 99 15 0 Ditto, 1933, 51 p.c. 99 b 0 — Ditto, 1933, 55 P.c. 101 0 0 Ditto, 1936, 55 P-c. 101 5 0 — INSCRIBED STOCK. — War Loan. 1938, 45 100 0 0 Ditto, 1939, 45 p.c. 100 0 0 Ditto, 1927-41, 51 99 0 Ditto, 1933, 51 p.c. 99 10 0 Ditto, 1933, 55 p.c. 101 0 0 Ditto, 1936, 51 p.c. 101 5 0 Ditto, 1D32, 55 p.c. 99 10 0 100 0 0

Jan.1925 . £ 3S,39S,263 £25,015,285 £13,382,978 1926 . 29,472,834 24,716,580 4,756,254 1927 . 30,592,341 22,200,704 8,391,637 1928 . 37,715,272 20,935,700 16,799,572 1929 . 37,771,541 22,537,443 15,234,098

June 30. Exports. Imports. Excess. 1921 £50,S21,8S1 £65,588,021 £ 14,766,140* 1922 44,535,921 30,940,048 13,595,873 1923 48,916,216 40,014,821 6,901,395 1924 48,445,826 44,832,164 3,613,662 1925 57,449,976 50,898,485 6,551,491 1926 46,336,847 52,157,702 5,820,855* 1927 46,395,082 47,373,687 978,605* 1928 55,619,285 43,497,942 12,121,343 1929 56^244,750 46,508,009 9,736,741 ♦Excess of Imports.