CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LX, Issue 18216, 29 October 1924, Page 10

CHRISTCHURCH STOCK EXCHANGE.

AUSTRALIAN BEEF TRADE.

WHEAT

YESTERDAY'S TRANSACTIONS.

Saks on 'Charge—X.Z. Refrigerating' (con.), 1U 6d; lis sd.

OTHER EXCHANGES.

(press association teleobams.) AUCKLAND, October 28. Sales—War Loan. 1927, £93; New Zealand Inscribed, 1938, £97 10s; Breweries' Debentures, 21s 6d; Waihi, 27s 9d.

DUNEDIN October 28. Sales on 'Change—Huddart-Parker, 43s 3d; Goldsbrough, Mort (old issue), 475; Kaiapoi Woollen ford.), 14s. Sales Reported—New Zealand Drug Co. 68s (2); Dominion Rubber, 21s; Kaiapoi Woollen, 7s.

THE PUBLIC FINANCES.

FIGURES FOR SEPTEMBER QUARTER.

(PRRSS ASSOCIATION TELEGBAM.)

WELLINGTON, October 28.

The quarterly revenue returns to September 80th show the total receipts to , be £11,467,936. Ordinary revenue was £5,599,299, made up of

Customs •• •• •• 1,9^3,108 Stamp and death duties .. 709,545 Poet and telegraph revenue ' 631,144 Land tax ... •• •• 62,468 Income tax "6,633 Beer duty W Railways

Registration and other fees .. Vlarina ... -• •• interest on public moneys .. ,(HU uocal Bodies Loans Act, 1908, section 76 .. »>£» Rents of buildings .. •• °>ffl Tourist and health resorts .. Miscellaneous .. •• •• ®,Bi& Territorial revenue •• •• The other items forming the total were: £

Departmental recepits, and recoveriea .>• •• •• _ s .^ Credits in reduction Credits in aid Treasury bills ,!• , " "Unclaimed on Government bonds .. For tlie same quarter last year the total was £9,471,740. The expenditure shows:

Permanent appropriations and _ interest •• •• •• a Departmental votes .. ••

✓epartmental vowj9 .. •• Preaeuiy bills redeemed Small items •• •• g 917'0n 3 ln "the departmental votes the largtsrf imounts are:— Railways •• •• - Postal -• " 102,972 Pol.ee .. •• •• 103,030 IrTtiie September quarter of last year the balance was £3, 138,462. _ The actual net expenditure this quarter compJdwith September of last year was =£lo 973 895 against £1^,273,502. ffiury bilL for £600,000 are outstanding against the balance in hand. . Public Works from -various • sources £2,599,636, and penditure £1,103,428.

BRISBANE, October 28. Speaking on the beef industry at hampton, Mr Bruce (Prime Minister of Australia) said that the future ofthecattlemdustry was good. -Duruig the three years, the industry had been faced with in tense competition from the Argentine and the resultant struggle liftd reacted against high prices for Australian beef, but the Argentine too had been losing money. They were reaching the limit and the end. must come Boon. It was certain that Argentine uricea would have to rise in the near future" and that the rise would have a great effect on the Australian beef industry as far as the export trade was concerned. Britain was now alive to__the necessity of "keeping the cattle industry going. If the proposal to establish a licensing board in Britain, which would give licenses to import beef from countries other than Dominions, only when snpplie3 from the Dominions were absorbed, was adopted, it would make ah extraordinary difference to the Australian meat trade.

(»* CABLS—FMtSS ASSOCIATION—COPYSIGHT) (AWBTXAIJAX ANt> Sf.Z. CABLE ASSOCIATION.) (Received October 28th, 10.30 p.m. ) LONDON, October 27. The wheat cargoes market re-acted to strong American advices, and there was fair United Kingdom demand, at from 6d to Is a quarter advance. Parcels were Is 3d up.

(Continued at foot of next column.)

AUSTRALIAN INDUSTRY.

(BY CABLE—PRESS ASSOCIATION —COPYRIGHT) (AUSTRALIAN AND H.Z. CABLE ASSOCIATION.)

SYDNEY, October 28. 3ir Pratten (Federal Minister of Industries and Customs), speaking at the annual dinner of the Chamber of Manufacturers, said that Australia's economic position was not satisfactory. "Exchange is taking toll _of our exports, giving a premium upon imports. The first step to be taken is to place some limitation on the Government borrowing abroad, and make an honest attempt to pay interest on loans abroad out of our exports, instead of out of our borrowings." Sir George Fuller (Premier of New South Wales) said that decentralisation of our industries into the countiy towns was needed, but more important decentralisation was from the head of the Empire of her people and her manufacturing industries into the Commonwealth. He said that there was no use in dealing with the question of migration with the trickle of people that was coming out to-day in connexion with primary industries.

LATEST QUOTATION'S. Buyers. Sellers. £ s . d. £ s. d. N.Z. GOAT. DEBENTURES ■l; per oe::t. Inscribed 1335 97 5 0 _ 4; cent. Bonds, 1330 97 7 G — •1} pe/ cent. Bonds, iiWS i'.Ed 1939 97 5 0 — o per cent. Bonds, 19-27 — 9S 10 0 OTHER DE DENTURE SCinisfchnrch Tramways, 3? T>er cent. — 98 10 0 .North Canterbury Hospital, 55 per cent. 98 0 0 — Lyttelton "Harbour, 4 por cer.t. — ss 0 0 Wcolsiaii B-:rcu?h a 0 0 r*r c«r.i. — £5 N.Z. Breweries Bonds . — 2 0 X. Z. Breweries Stock — 1 1 6 BANKS— Adelaide {cv.ra dir.) — s 10 6 A us tnilr.^ia — 13 G 0 National of Australasia, l£'5 paid; 7 10 0 — New South Wales 41 0 0 41 7 G New Zealand' o IS 0 — Royal (j£1 paid cum dir.) 1 14 0 — Union or Aust. (cum lights) 14 6 0 14 1-2 G Union cf Aust. (rights) 2 1 9 o 7 9 West Australian 2 13 0 o 16 G LOAN AND AGENCY— Go'dsbrough, Mori 2 6 10 •2 7 6 Goldsb rough, Mort (new) 2 5 6 2 6 3 SHIPPING— 3 Hrxldart-Parker 2 0 0 2 G Huddart-Parker (pret.) — 1 0 8 FROZEN MEAT— 1 N.Z. Refrig. (paid) l - 6 3 :i N.Z. He'rig. (con.) 0 11 4 0 11 7 North Canterbury (cum 10 0 divj 2 2 6 2 WOOLLENS— 0 15 (ord.) — G COAL— Wcstport-Stockton — 0 3 6 GAS— 16 Christcliurcii 7 12 0 7 0 BREWERIES— 14 15 Manninsr {cum div.) 1 3 1 0 MISCELLANEOUS— 12 Beath and Co. — 1 0 Burns, Philp — 1 14 G Electro. Zinc fpref.) .. 1 5 s — Mason, Struthers (£1 ,pnid) 1 3 9 1 4 9 Mason, Struthers (4s paid) 0 4 8 — N.Z. Farmers' Co-op. (£'2 paid) 0 5 0 0 9 0 United Pictures 1 6 0 — MINING— 6 Mt. Lyell 1 0 —

FOREIGN EXCHANGE RATES. (Received October 28th, 10 30 p.m.) LONDON, October 27. The exchange rates are aa follows:— Par. Oct. 23. Oat, 27. Baris, fr. to £1 .. 22.225 86.05 86.35 Brussels, fr. to £1 .. 22.225 93.65 93.9 Cbristiania, kr. to £1 18.159 31.46 31.6 Copenhagen, kr. to £1 18.159 26.07 26.37 Stockholm, kr toil 18.159 16.92 16.9 Berlin, m-arks to £1 20.15 18J 182 billions billions Montreal, dol. to £1 4.86 4.50J 4.49$ New York, dol. to £1 4.86 4.60 4.49J Jtome, lire to £1 .. 22.22J 103-J 104J Hong Kong. 3t to dol * 29§d 29J<1 Yokohama, st to yen 21.5 20 ll-16d 20Jd Calcutta, st to rpe 10 to gold £ 181-16a 18 l-16d 'Determined by price of silver.