CHRISTCHURCH STOCK EXCHANGE.

Press, Volume LX, Issue 18239, 25 November 1924, Page 10

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS. Sale 3 Reported—Commercial Bank oi Sydney, £22 7s Gd. LATEST QUOTATIONS. Buyers. Sellers.

OTHER EXCHANGES. (press association tklbgbams.l AUCKLAND, November 24. Sales —New Zealand (Inscribed), 1929, £97 10s; Bank of New Zealand, 61s; Milne and Choyce Debenture Stock, 22s 6d; Waihi, 26s 3d; Moanataiari, 2s 7d. WELLINGTON, November 24. Sales Reported—National Bank of New Zealand, £6 14s; Bank of New South "Wales, £4l ss; New Zealand Refrigerating, £1 3a. DTJNEDIN, November 24. Sale?— Mount Lyall (three), 21s 9d.

JAPANESE SEA TRADE. « PACIFIC TIMBER FREIGHTS. The latest list of.vessels assigned to carry lumber cargoes from the Pacific coast to Australia indicates the amazing rapidity with which Japanese steamers .have gained a footing in this class of trade, says the Melbourne "Sun." ■ Nine Japanese steamers, totalling nearly 50,000 tons register, are on the way to Melbourne or Sydney, 'or are loading in American portß. The entire fleet operating lumber from the Pacific Coast at .the present time numbers 19 vessels. "Six months ago it was the exception for a Japanese ship to reach Melbourne with ft freight solely comprising timber; now it is almost the rule.

Bach of these Japanese steamers "carries a cargo of from 8,000,000 to 5,000,000 super feet of Oregon pino_ and redwood. The huge sums paid for the timber go into the pockets of Americans, while the substantial freight rates swell the coffers of other non-Austral-ians. Practically not a penny of the money sent abroad returns to Australia.

A shipping authority pointed out that keen. Japanese competition in the lumber trade with steamers has driven the fine old "windjammers" out of t£e trade. There are, of the fleet of 19 vessels, only four sailers now engaged, while American, British and Scandinavian ships have been badly hit in a trade they, spent years and much money in building up. "There is no doubt," the authority added, "that the Japanese plan is to secure a monopoly of the Paoific lumber trade. It is obvious that Japan's position in the Pacific will be strengthened greatly if she can control a margin of the seaborne trade across that ocean. Indications seem to point to non-Japanese vessels , in the lumber trade being compelled to seek fresh. rouites and new trade on other seas.

"Already too much of Australia's trade is carried in non-Außtralian ships. "Where would Britain have been in the war had she been compelled to rely on* foreign shipping to supply her needs? It .is a great pity that 16 vessels of the Commonwealth Line are idly rusting in port in Melbourne and Sydney, while foreign ships are doing thriving business carrying lumber which might just as well be brought here in Aus-tralian-owned vessels."

CHARGING ORDERS. NEW REGULATIONS GAZETTED. Parties desiring to examine any person as r to-"ike debts due to the opposite party '.against ■whom it is sought to obtain a charging order, or whether such opposite party is entitled to any estate or shares liable to be charged, or whether euch party is a member of any partnership, shall, according to a new rule (No. 333 A) gazetted under the Judicature Act, 1908:—-(a) Apply to the Court or a Judge for an order on the subject, (b) The application for auch order may be made ex parte, .but the Court or Judge may direct that notice of such application shall be served upon the opposite party. (c) The* Court or Judge may make an order for the attendance and examination of the opposite party or any other person before the Court or a Judge, or before the Registrar or any other person appointed for the purpose of taking such examination, and may make an order also for the production of any books or documents, (d) Such order shall be made on such terms as the' Court or Judge shall think proper.

£ 8. d. £ a. d. N.Z. GOVT. DEBENTURES djper c?nt.- Inscribed, • ' 1933 and 1939 .. — 97 10 0 ' 4j Der cent. Bonds, 1933 97 10 0 ■ ' 5 per cent. Inscribed/ 1927 07 10 0 97 17 6 (TIIER DEBENTURESChristchurch . Drainage 5j per cent. 98 0 0 — Ghristcburch Tramways, 51 per cent. .. — 98 10 0 N.Z. Breweries, Bonds — 1 2 0 BANKS— Australasia 13 2 6 13 5 0 Comm. of Sydney 2?. 3 G 22 7 6 National of N.Z. G 13 0 — New South Wales •11 0 0 41 7 G Neu- Zealand 3 0 6 3 1 0 Royal (£4 paid^ — 6 15 0 Union of Anst. (ex rights) 13 15 0 — Union of Aunt, (new issue) 33 10 0 — INSURANCE— National — 3 12 0 LOAN AND AGEiNCY—' Dalgetv and Co. 13 7 G Goldsbrough, Morfc 2 8 0 2 8 9 National Mortgage 3 15 0 — N.Z. Loan and Mero. (ord. stock) 93 10 0 35 0 0 SHIPPING— Huddart-Paker (prcf.) 1 0 0 1 0 9 FROZEN MEAT— Canterbury — 14 5 0 N.Z. Refrig. (paid) 1 2 9 1 3 3 N.Z. Refrig. (con.) 0 11 10 0 12 0 WOOLLENS— Kaiapoi (ord.) — 0 15 0 COAL— Westport (ex div.) .. 1 15 0 Westport-Stockton — 0 3 3 GAS— Christchurch .. .. — 7 IS 0 T'imaitu 7 0 0 — BREWERIES— Orown 2 4 G Manning 1 13 6 1 14 3 "Ward .. .. 2 10 6 2 12 3 MISC • LLANEOTJS— Beath and Co. 1 11 3 1 11 8 British Tobacco 2 0 9 3 Electro. Zinc (pref.) .. 1 7 3 Electro. Zinc (def.) 1 4 0' Mason, Struthera (It's paid) — 0 11 3 Mason, Struthers (4s paid) — 0 5 3 . N.Z. Drupr • Co. (cum rights) 3 5 0 N.Z. Farmers' Co-op. (£3 paid) 1 J2 6 United Pictures 1 7 6 "Whitcombo and Tombs 3 11 9 MINING— Mt.. Lyell (cum div.) 3 1 G Waihi .. .. ... 1 6 0 1 7 6