FINANCE & MARKETS

Sun (Auckland), Volume IV, Issue 1038, 31 July 1930, Page 13

FINANCE & MARKETS

A Better Tone

Market on ’Change By “Noon Call/’ ASLIGIi ILV blighter tone is recorded in the. market on Change. Although business has not shown any marked improvement, the general decline of last week appears to have been checked.

ci IIf.TUATIONS 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: — Colonial Sugar, rise of £l. , N.Z. Insurance, fall of Is. Business On Auckland Market Transactions on the Auckland market ever the past 24 hours have included the following Yesterday afternoon. —National Insurance. 14s: Colonial Sugar, £37 10s; Whittomo Stevenson, 38s At this mornings early call.—New gealand Shipping Ipref.h £3 ss. \t midday—Farmers’ Trading. 7s lOd- New Zealand Insurance. 455: City lt Auckland. 1045, f.i per cent., £95. Coal Group Weak The announcement that arrangements have been made with Glen Alton Collieries. Ltd., for the supply of coal for the Auckland Power Board King's Wharf plant, to the almost total exclusion of other Waikato companies, has had a weakening effect on the shares of most companies irt the group. Sellers of Pukemiros are unsupported # t Ms 6(1: Renowns are also weak, ■and practically neglected. Quotations

for ITikurangis have been withdrawn following the further Hooding of the The market for Westports is very firm. Market This Morning The market this morning was quiet, with little movement in prices. Commercial Banks are very firm, with prices definitely above last week’s levels. A buyer of Unions came in this morning at £lO 13s 6d. _The insurance group is weak, even New Zealands suffering. In the miscellaneous group, Farmers’ Fertilisers are a little weaker, with sellers at 21s unsupported. Wilsons Cements, which have been unsupported for several days, drew a buyer at 38s. Dividends Due British Tobacco—pref.. quarteriy 15i p.c. p.a. July 31. N A Insurance—final. Is a share • Aug. 6. Corn. Bank Auk. —final,- pref., 4 p.c. p.a., ord., 3 5 p.c. p.a. Aug. 7. Queensland National Bank—quarterly, 2 p.c., making 9 per cent, for year Aug. 14. Farmers' Fertiliser Co —8 p.c Aug. 15 Dominion Investment and Banking—annual, 7 p.c.. „. Aug. 15. Victoria Nyanza Sugar—lnterim, 7} p.c Aug. 25. Electrolytic Zinc—ord. and pref.. final. 4 p.c Sept. 4.

TODAY’S QUOTATIONS

Closing quotations at today's midday call were .

SUGAR INDUSTRY INQUIRY IN AUSTRALIA \ •/' CANBERRA, Wednesday. The Federal Government has decided appoint a contmittee to inquire into Australian sugar industry. the operation of the sugar agreement and J_he embargo, before renewing the Agreement which will shortly expore. The Committee will consist of employers, employees. manufacturers, consumers, fruitgrowers, jam manufacturers and others. The Prime Minister. Mr. J. TI. ScQflln, stated in the House of Representatives that critics had claimed ‘hat the industry was being unsatisfactorily conducted, that land values Uneconomic and that its control was rapidly passing from the British race. ** FOREIGN EXCHANGES British Official Wirclc*& RUGBY, Tuesday. .Th® ‘ following: rates on foreign exare current today, compared rjtn the cabled quotations on Ju.y 24 and par:—

A MISCHIEVOUS COMPARISON DENMARK AND NEW ZEALAND The average New Zealander’s ignorance of conditions in Denmark is being exploited by a section of agitators who give Denmark's big export trade figures in pig products as an objective obtainable by New Zealand by the simple process of lifting the import duties on grain for stock food purposes. The most grievous deception is the inference that the removal of wheat duties would be one of the necessary steps. The following facts will shed some light on the matter. A publication entitled “Denmark 1927,” issued with the authority of the Danish Minister of Foreign Affairs, not only points out that Denm\y-k grows a large proportion of the grain required for stock food, but that large areas are sown with mixed seed, no.mely, barley and oats, for this purpose. Wheat is not mentioned. As a matter of fact, for the 12 months ended July 31, 1929, Denmark produced over 50,000,000 bushels of barley, more than was sufficient for her OWn requirements, for she exported 3,000.000 bushels in the same year. This disposes of the argument that Denmark is not a grain growing country and that she depends upon imported grain for stock food. Denmark's close proximity to huge markets for her pig products is another factor to bo considered. Hamburg, for instance, is only 30 miles from the border of-Denmark. She is right at the back door of a huge German market which takes one-fifth of Denmark's total exports. The huge English market is only 330 miles away. The position in New Zealand today is that the pig industry has the benefit of duty free barley, bran and pollard, three major items in pig feeding. Whether these concessions will establish a profitable export business for New Zealand in pig products remains to be seen. It is interesting to note that whatever the pig industry may be worth to Denmark, that country is in no better position as regards providing employment compared with New Zealand. Denmark has a population of approximately 3,500,000. Her latest winter unemployment figures are 62,563. New Zealand’s population is approximately 1,500,000, with winter unemployment figures of 5,445. Denmark has, therefore, nearly twelve times the amount of unemployment, with little more than twice the population.

Consideration of the above points will show the fallacy of attempting to strike a parallel between New Zealand and Denmark in order to show cause why our vital wheat industry should be sacrificed.—l 3.

STOCK PRICES FIRM N.Z. MARKET REVIEWED BIG YARDINGS AT WESTFIELD BY R.W.C. Prices at the principal stock sales of the Dominion yesterday showed little change on those of recent sales. The tat sheep market shows \ a tendency to ease, but beef holds firm at late rates. Pork is very firm. At Westfield yesterday a compara* ’ tively heavy offering of fat cattle came forward, the average quality of which was well above that of rfcent salesThe calf offering was the heaviest of tlio season, close on 2,000 bobby calves being drawn from all parts of the district. There was a short yarding of pigs and prices were very firm, the market for porkers advancing sharply Although the greater part of the ox beef offering was made up of handy weight sorts, there were several lines of well finished heavy prime steers forward on acopunt of well-known graziers which met with a steady demand at late rates. Best young ox made up to 40s a. hundred; average ox beel made from 35s to 38s a hundred. Extra heavy prime, £l3 10s to £ls ,15s; heavy prime, £l3 10s to £l3 15s, medium. £l2 to £l3 ss; light ami small, from £9. One of the best quality lines of fat cows seen in the yards for several weeks came forward on account of Holdsworth Bros.. Whakatane, to meet with keen competition a * up to £l3. Extra heavy choice prime young cows and heifers made up to £l3 10s; heavy prime, £9 to £11; medium, £7 to £8 15s; light and small, from £5 10s; unfinished and rough, from £4. Best young cow and heifer made to 37s a hundred: average cow and heifer made 27s to 33s a hundred. Heavy Yarding of Small Calves The offering of young calves was the heaviest this season, and ordinary accommodation was taxed to overflowing; exporters lor the bobby veal trade operated freely, paying from upward; anything from l'resh-dropped to four-wbeks-old at all well nourished made from 14s to 40s; heavy prim* vealers made to £4 ss; runners mad-* to £6 4s; exceptionally choice prim* sorts made up to £lO ss. An average yarding of fat sheep came forward to meet a rather erratic market; extra prime sheep sold freely at late rates, but indifferently finished sorts tended to drag; heavy prime wethers made from 27s to 30s 6d: medium, from 23s to 26s 6d; choice prime young ewes made to 245; heavy prime, 17s to 21s; medium, 14s to 16s 6d. Hoggets made up to 25s 6d. The pig market was very firm, porkers selling around the equivalent of BJd a lb; baconers made from 6d to 6£d a lb; extra good stores made to 40s; weaners from 18s to 30s. Hawke’s Bay Market At the weekly sale in the Stortford Lodge yards yesterday there was a fair attendance of the public; there was a good yarding of beef and a fair yarding of fat sheep. Prime fat bullocks made £l4 to £18; fat bullocks, £ll 5s to £l3 11s; fat heifers, £7 17s to £9 3s; fat cows, £8 17s Cd to £9 15s; store cows, £2 to £3 10s;' springing dairy heifers, £6 5s to £8; dairy cows, in profit, £ 6 to £lO 15s; fat lambs, 20s; fat ewes, 11s to 245; fat wethers. 20s to 255; ewes, in lamb, 14s to 18s 4d: store ewes, 7s to 10s; ewe hoggets, 14s 3d. Johnsonville Sale There was an average yarding of all classes of stock at the Johnsonville (Wellington) sale yesterday. The i bullocks comprised mostly mediumweight cattle, with a few pens of heavier sorts. At the commencement of the sale competition was keen, particularly for good quality cattle, but toward the end there was an easing tendency. Wethers sold on a par with last week’s rates, but ewes were firm to the extent of Is to Is 6d a head. Lambs met with a good demand. Prices were: Extra heavy bullocks, £l6 to £l6 10s; heavy bullocks, £ls to £ls 10s; medium bullocks, £l3 15s to £l4 10s; light and unfinished, £lO 17s 6d to £l2 ss; heifers, £7 15s to £8 ss; heavy wethers, 26s 9d to 29s 3d; light wethers, 25s 3d; heavy ewes, 19s 2d to 245; ewes, 18s Id to 18s 7d; lambs, 21s 8d to 24s 6d. Addington Market With the exception of an easing in values in the fat sheep section, there ; was little alteration in proces at the weekly metropolitan stock market at Addington today. Pat sheep were penned in larger numbers than for some weeks, and as a result of the over-supply values were Is a head below those ruling »at last week’s market. There were no fresh consignments of North Island cattle forward because of the heavy gale in the early part of the week, but in spite of that fact the entry from local graziers, supplemented by fairly large lines from Southland and South Canterbury, was heavier than for several sales. The sale was a satisfactory one, with values on a par with those of last week, and especially firm for many prime lines. The store sheep entry was mediocre, and values throughout the sale were on the same basis as those ruling at recent markets. The fat lambs entered totalled 181 head, the smallest entry of the year. Exceptionally choice prime lambs made up to 37s 4d; extra prime wethers made up to 34s 7d; prime, 26s to 28s; extra prime ewes, to 265; prime, 18s 6d to 21s. An entry of 500 fat cattle was the largest for many weeks. The sale v/£?s,s satisfactory, with the basis of values ruling last week unaltered. Best handy-weight steer and heifer beef made from 40s to 44s a 1001 b, and a few pens made as high as 46s a 1001 b; best heavy-weight steers beef, from 36s 6d to 39s 6d; medium quality, from 33s to 365; best cow beef, to 395; good cow beef, from 33s to 36s 6d; secondary, to 325; rough, down to 24s 6d a 1001 b. Values were: Extra prime heavy steers, tq £2l 17s 6d; prime heavy steers. £l7 10s to £2O; prime medium-weight steers, £l4 to £l7: medium quality steers, £lO 10s to £l3 10s; light steers. £8 to £lO ss; extra prime heifers, to £l6 12s 6d; prime heifers, £ll 10s to £l4; medium heifers, £9 to £11; light heifers, .£6 10s to £8; extra prime cows, to £ls 2s 6d; prime cows, £ll to £l3 10s; medium cows, £8 to £10; light and aged, £5 10s to £7 10s. Porkers were again in heavy, supply. The market opened at last week’s rates, but eased slightly as the sale progressed. Choppers were in good demand at late rates. There was a medium entry in the bacon pens, and prices were about on a par with those ruling at the last sale. Values were; Porkers, 45s 6d to 55s 6d; heavy porkers, 58s 6d to £3 15s 6d (average price a lb. 82d to 93d): heavy choppers, £7 to £lO 10s, others £3 to £6 13s 6d; baconers, £3 10s 6d to £4 15s; heavy baconers, £4 17s 6d to £5 9s 6d (average price a lb, ?3d to S2d).

SOVIET TRADE WITH U.S.A. WASHINGTON, Tuesday. Protests have been made against the action of the customs authorities in placing a ban on Russian pulpwood. An authoritative announcement from White House says the President, Mr. Hoover, refuses to consider a. bar against Russian trade in general.

N.Z. MEAT BOARD

SEASONS’ ACTIVITIES A RECORD YEAR A record season, is the opinion of the New Zealand Meat Producers’ Board, in its review of the past meat freezing year. The review covers all sections of the board's activities, commenting particularly on the new shipping contract, which is estimated to mean a saving of £ 50,000 a year to producers, the widening of markets by judicious advertising and, in conjunction with the Empire Marketing Board, tlie development of Empire Trade. In addition, there are lengthy accounts dealing with the research and experimental work conducted under the auspices of the board. In anticipation of greater killing of sheep and lambs during the season, the board, in its work of regulating shipments, had exercised the greatect care to ensure that sufficient shipping tonnage was available to meet requirements. Owing to the abnormal killing experienced, many freezing works had been concerned at periods regarding congestion of their storage chambers. In order to develop trade with the West Coast ports' of the United Kingdom further, the board had arranged with the shipping companies for an extended service which should enlarge the channels of distribution. PREMIER POSITION WITH LAMB “It is pleasing to note that our lamb still retains its premier position,” continues the report. *‘W r e must recognise, however, that other countries exporting to the United Kingdom are advancing in quality and it cannot be too often urged that every farmer should assiduously guard the high reputation which this Dominion possesses in respect of the quality of her meat exported. Quality, as desired for the Home trade, is not measured in terms of weight, and lamb carcases should not carry undue waste fat.” The importance of careful handling of stock was also emphasised. The value of the Dominion's sheep and cattle industry, as measured by the export statistics (f.o.b. values), for the 12 months ended March, together with the corresponding figures for last year, is as follows: 1928-29. 1929-30. Wool £ 15,576,291 £10,610,979 Frozen meat . - 10,509,650 10,501,755 Hides and skins .. 3,111,369 2,386,540 Other by-products 1,613,032 1,418,217 Total £30,810,142 £24,917,491 Wool sold over the whole Dominion In respect of the November-April roster of sales averaged 8.59 d a lb, compared with 14.99 d a lb last season, and 16.89 d a lb in the 1927-1928 season. New Zealand was Britain’s largest supplier of mutton and lamb, and the British import figures since refrigeration was first applied to ocean transport showed that New Zealand had shipped almost as many mutton and lamb carcases to Britain as had the rest of the world. The expanding production of South America, however, was noteworthy. In 1914 that country exported 837,903 lambs to the United Kingdam, while last year 4,333,241 lambs were exported from South America, an advance of 902,586 over the previous year. Since its formation in 1922 the reductions obtained by the board in the various freight contracts negotiated amounted to £1,059,000 a season, made up as f0110w:—1922-23 contract. £575.000; 1923-24 contract. £164,000; 1924-27 contract. £120,000; 1927-30 contract, £150,000; 1930-33 contract, £50,000; total. £1,059.000. PUBLICITY ABROAD In addition to extensive advertising, the board had also provided a connecting link between the retail shops and its London office and had recently engaged a travelling representative, whose duties lax*gely consisted of visiting meat retailers throughout the United Kingdom with a view to extending New Zealand trade. In reference to the pork industry, it was stated that the freight rate on pork would be further reduced by per cent, under the new shipping contract. The rate would now be .922(1 a lb less than when the board was constituted in 1922, representing a saving of 9s 2d on a 1201 b pig. There was no doubt that the outlet for New Zealand pork was gradually widening, and it was becoming favourably established on the Smith field market. During the last few years the board had made several trial shipments of meat to the United States, and the export of meat to that country had prospects of developing. The estimated annual value had reached approximately £ 500,000, and was proving of great benefit to meat producers of the Dominion, especially those raising beef. The new Uited States tariff, however, would practically nullify the board’s efforts to develop that market as an outlet for New Zealand beef.

DISTRICT STOCK SALES AUCTIONEERS’ REPORTS Stock auctioneers report on -sales held throughout the district during the past week as follow: Alfred Buckland and Sons, Limited. —Luring the week we held cattle sales at Westfield. Waiuku, Waitakaruru, Pukekohe and Maungakaramea, one clearing sale and horse sale at Pukekohe. Average yardings came forward and found ready buyers at prices similar to those ruling the previous week. Best dairy cows made £l4 to £l9 10s; good cows, £lO 10s to £l3 15s; other dairy cows, £4 10s to £10; best springing heifers, £l2 10s to £l6 10s; average heifers, £9 to £l2; small and backward heifers, £ 5 5s to £8 17s 6d; empty young cows and heifers. £3 10s to £5 ss; store and boner cows, £2 to £5 15s; fat cows and heifers, £6 to £ll ss; fat steers, £ll to £l4 10s; 3 to 4year steers, £8 10s to £ 9 17s 6d; 2 to 3 year steers, £8 10s to £8 ss; yearling to 18-months-old steers, £4 10s to £6 10s; well-bred yearling dairy heifers, £ 5 to £7; other yearling heifers, £2 10s to £4 15s; heavy bulls, £4 10s to £5 15s; sound young herd bulls, £4 4s to £8 8s; other bulls, £1 10s to £4; F.M. ewes in lamb. 15s to £1 Is; store wethers, £1 0s 6d to £1 3s; lambs, 10s 6d to 15s 6d. The New Zealand Loan and Mercantile Agency Company. Ltd.—Sales were held during the past week at Westfield, Papakura, Pukekohe, Kaukapakapa. Three c'earing sales were held. One was at Waiuku. where we sold Mr. W. T. Gleeson’s registered pedigree Friesians; another at Fakuranga, on account of Mrs. PI. Mlllen, and Jhe other at Hauraki Plains, on account of Mr. Q. Louglas. We report good sales with values for all classes of live stock on a par with last week’s quotations. Extra choice grade dairy cows sold lip to £2l, which price was realised at the Pakuranga clearing sale. Registered pedigree Friesian cows realised up to 57gns; heifers to 34gns; bulls to 30gns„ and calves to 19gns. Other quotations are: Best dairy cows and heifers. £l2 to £l7 10s; other dairy cows and heifers £7 10s to £ll 10s; aged cows and inferior heifers, £3 10s to £7 ss; herd bulls, £4 to £lO 10s, according to quality; boner bulls, £2 to £6 ss; boner cows, £2 10s to £5 ss; store cows and heifers, £3 to £6 7s 6d; yearling to IS-months heifers, £2 to £5; yearling to 18-months steers, £2 5s to £4 17s 6d; 2 to 25-year steers, £5 to £7 ss; 3 to steers, £7 7s 6d to £8 17s 6d; forward steers, £9 to £lO 10s.

TO COST £IO,OOO TAUMARUNUI’S NEW WATER SUPPLY SCHEME UNDER DISCUSSION From Our Own Correspondent TAUMARUNUI, Wednesday. A special meeting of the borough council last night, presided over by the Mayor, Mr. C. A. Boles, considered the proposals for a new water supply, as lint forward by Mr. R. Worley, engineer to the Hamilton Borough Council. The scheme provides for use of the Wanganui River water, which nas been fully tested for purity by the Health Department. The engineer’s estimate of the cost was set down at £ 10,300, but the council considers that this can be reduced by £1,300 without impairing the efficiency in any way. It is known that the cost of nitration of the present supply will in the end be a great deal more than the new scheme, and the only other alternative, a catchment area in the Taringamotu Valley, would cost .£40,000. The water would be pumped from the river at the hydro-plant at Piriaka, and would be contained in a reservoir there, and in a subsidiary reservoir on the Rangaroa Plateau, overlooking the borough. CHICAGO WHEAT Reed. 5.3 a.m. CHICAGO, Wednesday. _Wheat. —July, -831 cents; September, 83 3-8 cents; December, 003 cents* March, 95-| cents.

| TOBACCO INDUSTRY FARMERS ON COMMITTEE OF INQUIRY BREEZE IN HOUSE THE SUN'S Parliamentary Reporter WELLINGTON, Wed. Quite a little breeze developed in the j House of Representatives today when j a motion to appoint a Select Committee to inquire into the tobacco indusj try of New Zealand was brought up. | Mr. W. J. Poison (Independent—Strat- ; ford) asked for more representation jox farmers on the committee, and when at first there was no Ministerial ! reply to his question, Mr. M. M. Rush- ! worth (County Party—Bay of Islands) I threatened to divide the House, j Finally the names of Mr. Poison and Mr. Tau Hen are (Reform—Northern ; Maori' were added to the committee. Mr. 11. E. Holland, leader of the j Laboui Party, asked the Prime Minister, the ITon G. VV. Forbes, if the | committee would report to the House | before the Customs Amendment Bill ; came down. | The Prime Minister said that he did not believe this could be done in the time, but that any recommendations would be dealt with, if necessary, by Cabinet. Mr. Poison claimed that farming interests were not sufficiently represented on the committee and pressed for a Ministerial reply. Mr. H. M. .Campbell (Reform— Hawke’s Bay) said that Mr. Poison’s question was a reasonable one, and merits a reply. Mr. Rushwortli: Failing a reply we should divide the House.' The Minister of Agriculture, the Hon. A. J. Murdoch, said that there were already several farmers on the con - j mittee, and that the tobacco-gro win a j districts were well represented, i The Header of the Opposition, the Rt. Hon. .1. G. Coates, said that there were tobacco-growers in his own and Mr. H. M. Rush.worth’s electorate. The Maoris in the Bay of Islands grew tobacco. The Prime Minister said that he. understood that when the committee had been drawn up the districts where tobacco was grown were represented, but if the member for Stratford or for the Bay of Islands were interested in the question the Government would be pleased to add their names to the list. The Minister of Xative Affairs, the Hon. Sir Apirana Ngata, suggested the name of Mr. Tau Henare. On the motion of the Prime Minister, the names of Mr. Poison and Mr. merited a reply. A WORLD RECORD Special to THE SU -V NEW PLYMOUTH". Wednesday. The three-year-old Jersey heifer Ivondale Silver Rainbow, which is claimed to have established a world record on twice-a-day milking, with approximately 9501 b of butter-fat. is owned by Mr. P. J. Petersen, whose farm is at Brixton. Mr. Petersen has already held the New Zealand record for three-year-olds. established by Ivondale Golden Lass. Ivondale Silver Rainbow is by Xenia's Oxford Lad, from Ivondale Rainbow’s Lass.

Buyers. Sellers. £ s d. £ s d BANKS— Aust. of Commerce . 1 1 6 1 2 Australasia Com. of Australia . Ditto UOs pd) .. 0 Ditto (pret.) Eng.. Scot * Aust. 5 15 0 National of N.Z. . New South \\ ales . 37 0 ft ft New Zealand . . . • 2 15 2 16 0 Ditto <f> Mort > . 1 ft Union of Australia . 10 13 — insurance— A.P.A 0 7 6 ft 13 New Zealand .. 2 4 Queensland .. . - .. —“• i ;♦ LOAN AND AGENCY — pom. Invest and Bank. Farmers' Co-op. - 1 0 6 Auct. A (pref. > . ft 17 Ditto (B pref. > 0 16 0 C.oldsbrougrh. Mort . I 7 1 s Newton King: • ■ • • 0 2 Ditto (pref.) .. 0 12 0 1 10 0 K.Z. 6c River Plate N.Z. Loan Men-. Eeiiance Loan . . . . — COAL— Grey Valley — 1 5 0 Ditto, (pref.) .. .. 0 2 s 0 Ditto (new issue) Taupiri ». .. . i « 0 Ditto (pref. » .. 1 2 0 Westport GAS— 1 12 0 1 14 Ditto (con.) .. -- 0 17 6 ft 1 1 ft Thames BUIRPINO— 0 6 6 o a 0 Devonport Steam .. — 1 4 b (pref.) .ft If 6 N.Z. Snipping: (pref > ft 0 ft Northern Steam .. 0 14 0 14 9 Ditto (con.) . . . . (i r* 4 F and O. (def stk.> ft 2 G Union Steam (pref.) TIMBER— I o ( Bartholomew . . . . l a 0 ft s ft Parker-Lamb .. .. 0 11 o breweries— 1 1 0 1 1 ft 0 N.Z. Breweries llISCELLANEOCS — Australian Glass . 1 15 0 0 5 0 British Tobacco iPyeroft, Ltd 1 17 * 1 18 1 15 0 0

Jlontreal. do!. . c|53f dol. . B25»«la, belga .. Y®neva, fr. . . . uly 29 July 24 4.86 15-32 4.86 Par. ,r, 4 866 123.77 34.79 123.67 3,4.80 25.035 124.21 35.00 25.22 ig2«terdam, fl. . 12.098 12.091 92.88 12.10 92.46 Jfffiin, r.m ftockholm, kr. .. J'»k>, kr. .. \-?i^ r ' haKe, ‘- kr - • £**nna, sch .... ?«s™e. kr.' .. .. rasp Ki. m . a, '. k 20.38 18.09 20.28 18.095 20.43 18.159 1 S.l ti 18.16 18.159 34.581 24.02 1H4J 3939 43.65 3 641 193g 42.55 dr "Uckarest, lei. .. 375.00 25.221 R- “* Janeiro, rn. 5 1-16 53 40 9-16 17 25-32 18 Egcutta. ™„ eo . tael .. 17 25-32 181 18d 7/1 ToE?i. Kong - dol. ye . n .• 15i 15i 24 9-32 12.09 24 11-32 24.58d 12.10 ba»-~- . ‘ *

Buyer s. Sellers. I s. d. £ s. d. Dunlop-Perdriau 0 14 0 Electrolytic Z i n c (Old.) .. .. .. .. 1 0 0 1 1 0 Ditto (prof.) .. .. 1 10 1 4 Farmers' Trading .. 0 7 9 0 S u * Ditto (B pref.) .. 0 12 0 0 13 6 Puller’s Pictures .. 0 13 0 J fay ward’s Pictures 0 13 0 Hill and Plummer . 1 0 0 H.M. Arcade Theatre l 10 0 1 0 Ditto (pref.) .. .. 1 0 Holden’s Motors 0 0 8 X.Z. Drug 1 0 4 0 Milne and Choyee (deb. stock) .. .. 1 4 1 6 National Pictures 0 13 <; \.Z. Farmers’ Fort. 1 J 0 Robinson Ice Cream l 0 Sanford. Ltd 3 2 6 Ditto (pref.) .. .. 0 19 Taranaki Oilfields . 0 3 0 3 0 Thames Theatre . . 0 1 L 0 0 3 5 0 Union Oil 1 15 0 Wairakei, i.td 8 Whit tome-Stevenson Wilsons Cement 1 IS 0 MINING— Moanataiari (paid) 0 0 9 0 1 3 Ditto (2s Sd paid) Kawarau Lucky Shot (4s pd.) Ohinemurl (ord.) .. Ditto (paid) .. Waihi id 14 Wa.fhl Grand Junct. 0 i Mount Lyell 1 Ditto (rights) .... 0 Kamppng DEBENTURES— Auckland Gas, 1932. 94 Ditto. 1933. P.c. 101 0 Auck Harbour Board. 1959, 5J p.c 96 C Ditto, 3 941, 6 p.c. 101 0 0 103 City ot Auckland. T9 40, 5* p.c Ditto, 1949, 51 p.c. 94 0 Auck. Power Board. 1950. 6i p.c. Mt. Albert. 1963. 54 Williamson’s Films — Gisborne Sheep90 — N.Z. Breweries GOVERNMENT LOAN 8 - 99 5 0 — Ditto, 193S, 4J p.c. Ditto, 1939, 4£ p.c. 99 10 Ditto, 1941, 44 P.C. 1NSCKIBED STOCIi War Doan. 193S, 41 09 10 0 — Ditto. 1939, 41 p.c. 99 10 — Ditto, 1936, 5i p.c. 99 —