FINANCE AND COMMERCE.

Press, Volume LXIII, Issue 19149, 4 November 1927, Page 12

FINANCE AND COMMERCE.

WOOL SALES, DATES AND ALLOTMENTS. (rsiss assocutios tzlzqsiu.) WELLINGTON, November 3. The New Zealand Wool Committee today allocated the quantities of wool to be offered at the various wool selling centres throughout the Dominion, during the forthcoming season, as follows: December ."th, 19-7 —Wellington, 17,000 bales.

December 0th —Napier, 22,000 bales of Tlawkc's Buy wools and 5000 bales of Gisborne wools.

December 3 ~>th—Timaru, no limit. December 19th—Dunedin, no limit. January oth and 6th, 1028—Christ-t-hurcli, 27,000 bales. January Jlfh and 12th—Wellington, 27,000 bales. January l'Jtlt and 17th—Napier £2,000 bales of Ilawke's Bay wools and SOOO bales of Gisborne wools. Januarv 20th—Wanganui, 25,000 I>ales. January 27th—Invcroargill, 23,000 lair-. January ;;ist and February Ist—Dunedin, 26,000 bales. February 3rd and 4th—Timaru, 20,000 lal.-s. Februarv Sth and 9th—Christchurch, 20,0t>0 bales. February 16th and 17th—Wellington, 27,000 bales. February 20th and 21at—Auckland, 23,000 bales. February 23rd and 2-Uh —Wanganui, 20,000 bales. February 27th and 2Sth—Napier, 20,000 bales of Ilawke's Bay wools and 6000 bales of Gisborne wools. As in the previous season the Committee is not fixing any maximum on the quantity which may be offered at the various sales to be held in the months of November, and March, 1928. «

PETROL TAX. AUCKLAND'S PROTEST. :f (raiss issocuTtoa tiliobau.) AUCKLAND, November .3. Beprescntatives of trades interested in the proposed petrol tax of ii a galJon met at the invitation of the Auckland Chamber of Commerce to formulate a united complaint. -Amongst the interests represented, were the dairy industry, Motor Trade. Association, Carriers' Association, the Auckland Electric Power Board, two' omnibus services, and a launch firm. A resolution was carried objecting to the additional burden of a 4d tax, and •uggesting that opposition would not bo raised to a reasonable rate, provided the revenue was entirely devoted to roads, and that substantial relief was provided in respect- of other taxes. The meeting added its opinion that in view of tho expenses and the difficulty with claims for petrol exemptions a tyre tax was preferable as a source of revenue. The executive of the Chamber of Commerce will meet in the morning to consider the position as indicated by the large consumers of petrol.

STATE TRADING LOSSES. t BIG QUEENSLAND DEFICIT* The Queensland State cattle stations made a loss in the last financial year of Bo less than £285,486, while the six other State enterprises showed an aggregate profit of £21,532. This was revealed in the annual report of the Trade Commissioner presented to Parliament recently. The State butchers' shops made a profit of £5045; produce agency, £1611; railway refreshment rooms, £9022; State hotel, £2776; State fish supply, £1809; and the cannery, £4267. . The' whole seven State enterprises were indebted to the Treasury to the amount of £1,703,513, of which the State stations were responsible for £1,479,612. . .> The report stated that it was hoped that the year's operations of the State stations, would have shown a substantial improvement on the previous year's trading,. when a loss of £152,545 was recorded. Unfortunately, owing: to the continuation of adverse seasonal conditions over the greater part of the year, and consequent greatly reduced sales, a heavy writing-off of stock awing to losses was inevitable. The total indebtedness of the State stations to the Treasury was £1,479,612, apart from accumulated losses to June 30th, 1924. which have been written off, namely, £674,789. The net funds provided by the Treasury in respect of the State stations were thus £2,154,401. the excess of liabilities over assets at June 30th last was £441,691, and adding to the previously-mentioned accumulated losses written off namely, '£674,789, the total loss from the inception of the State stations was '£1,116,480. ' J ~ TEXTILE TRADES. EXHIBITION IN LONDON. (b&risb orricuL wirslbss.) * RUGBY, November 2. An interesting • development in the textile world is;a : movement; now well advanced, for the-establishment of a pormanent-eshibition in-London. The exhibition, which is to include textiles of all kinds, is to be interna-, tional in scope, and has behind it some of the largest firms in the trade. An announcement of the scheme will probably be made within a few weeks. \

SHIPPING LINES SALE. JTEN-YEAR GUARANTEE OPPOSED (ST CiBLX—m*SS ASFOCimOK—COPIBIQET.) and k.z. cablx association.) (Received November 3rd, 8.45 p.m.) WASHINGTON, November 3. The United States Shipping Board lias been urged by Senators McNary and Steimer, from Oregon, to continue the policy of the five-year operation guarantee in drawing up the specifications for xhe sale of the American, Australian, and Orient line. Both Senators opposed the extension of the guarantee period to ten years and urged that an interchange of ports be provided allowing freedom of operation and saving wheat-growers considerable sums. [The Shipping Board has appointed * special committee \o draw up new •pecifications for the sale of three steamship lines, namely, the American, Australian, and Orient, the American Oriental, and the Oregon Oriental iiives. comprising altogether 3G vessels. The Board asked the committee to consider the proposal of the Pacific Coast operators for a-fiyeryear operation guarantee, which was' ' opposed by some members who favoured • 10-year guarantee.]

RAGWORT. AUSTRALIAN INSECT PARASITES. [THE FBESS Special Service! "WELLINGTON, November 3. Hopes of returning to New Zealand with' a valuable insect parasite -which is an enemy of ragwort are held by Br. R. J. TjUyard, of the Cawthron Institute, who ia at present visiting the Commonwealth to confer with the Australian Council for Scientific and Industrial Research on problems connected with entomology in that county at> the invitation of the Prjm* Minister of Australia. "Just now I am hot on the trail of some ,new ragwort insects located in Gippsland," he writes to Dr. E._ Marsden, of the Department of Scientific and Industrial Research. ''One is a stem-boring caterpillar of a family most peculiar to Australia. It eats out the centre of the young seedling and also destroys "the centre of the well-grown rosette in second year plants. It atr tacks the upright stem and kills it. Plants attacked by this larvae almost invariably die. Provided that this species is negative to other plants of economic value, I consider that it alone would eliminate ragwort from New Zealand."

Dr. Tillyard goes on to say that one typo of insect is a pink, translucent, undergrown caterpillar, which so far he could not classifv, but probably it was a pyraustid. This also did a lot of damage: The first moth had been bred out and he proposed to take it to Gisborne. ■

DRAINAGE BOARD LOAN. The Christchurch Drainage Board is issuing a prospectus in connexion with a loan of £70,000 to provide funds for the completion of the sewers in the outlying; parts of the City and suburhs. Tho interest is 5J per cent., and the currency of the loan ".is 46 years. Debentures will he issued in denominations of £IOO, £SOO, and £IOOO.

SOUTHLAND MARKETS.

(special to the pbkss.) IXVERCARGILL, November 3. Oats—This market, as far as Southland is concerned, is now quiet, merchants having disposed of their surplus stocks and there being no offerings whatever from farmers. There have been a few enquiries to hand from the North Island, principally for under-grade and Duns. Values to formers run about 2s 8d to 2s 9d iar A grades and 3d less for B's, while really good samples of Dunß would command 3s per bushel on trucks, country stations, sacks extra.

Wheat —There is very little business passing except for the supply of local orders for poultry feed. Local stocks are now at a low ebb and there has been a firming in price as a consequence. No lines are offering from fanners, but any that are still available would be worth 6s 3d per bushel on trucks, country.stations, sacks extra. Chaff—The temporary shortage of chaff has passed over to some extent, there now being sufficient supplies to cope .with the demand. Good quality chaff is always in demand, but merchants are not inclined.to pay more than £4 5s per ton on trucks, country stations. Ryegrass—This market continues dull, snd although occasional lines are "being sold for shipment, the demand for local seed is disappointing. Stocks, nevertheless, are not heavy, and it is probable that the, requirements from New Zealand and overseas will absorb the balance within the next month or ao. Top value at present is 2s 9d , a bushel, and at this figure good quality and weight is required as well as seed standing a good germination test. Potatoes —Southland supplies seem- to be exhausted, and northern potatoes are finding favour on this market. The price for these has increased. Nominal value to farmers is £6 per ton on trucks.

New potatoes are now coming forward readily from Ohristchurch and are bringing extra good prices.. Hothouse'tomatoes from the same district'are in demand, and regular supplies should continue to arrive from now on. New Zealand-grown apples are in.very small compass, the bulk of the samples available, with the exception of' Sturmer3, leing poor. A few bright-conditioned Stunners are /joining forward from Canterbury and meeting .with a good demand, which is accompanied by high values. Supplies from. Otago Oentral are ■ now very small- and withered. The first Canadians proved to be particularly good samples. They are considered much better .than usual. Oranges are practically unprocurable locally. A small parcel of Valencias arrived from Sydney and were sold immediately,, their splendid condition drawing top values. A keen demand was also evinced for a line of Winter Cole and Winter Nelis pears. Lemons are not available, but fresh supplies, from Sydney .and California are due about' the middle of the month. Californian grapes are to band, and opened up in good condition. Fiji bananas are'due: on this market about the 9th inst., and as.the Kurow; comes direct to Bluff, larger quantities .areßespected' than has been the case previously. Current ■ prices are as f oi- . lows:—Apples, Canadians 25s a case, New Zealand- Sturmers 17s 6d, other varieties 5s to-12b 6d,:according to condition; pears, to 61d ,a lbj .Valencia'oranges, to Usb; lemons, to arrive;' Californian grapes, 455; rhubarb, to 8d a lb; cauliflowers, to 12s' 6d a doa; cabbage, to ss; new-potatoes, to 9d a lb; lettuce, to. 5s 6d a dozen; carrots,, ljd a lb; parsnips, l}d a lb; radish, Is Od-a dozen.

TEMUKA STOCK SALE.

There was a fair average yarding of fat sheep at the Temuka stock sale this week. Prices were as follows:

Sheep—Fat wethers: 10 at 375, 11 at 39s 6d, 9 at 34s 3d, 7at 355, 18 at 40s, 1 at 36i 6d, 11 at 39s 6d, 20. at 30s, 15 at 36s at 86s, 54 at 28s; fat ewes,, 1 at 84s, 10? at 32s 3d, IS at 29s' 6d, 10 at 40s, 11 at 375, 14 at 365, 9 at 26s 6d, 6 at 80s, 3 at 38s, 2 at 80s 3d, 7 at 355; 1 fat wether hogget at 335, 17 shorn wethers at 27s 7d. Stores: 28 wether hoggets at 27s 2d, 104 ewe hoggets at 84s, 68 ewes and lambs at 16s a.c, 10 ewes and lambs ,at 15s; fat lambs, 4 at 22s 6d. Cattle—Fat cows, 1 at £4 7s 6d, 1 at £3 12s 6d, 1 at £4 15s, 1 at £5 2s 6d, 1 at £4 17s 6d, 1 at £7 ss, 1 at £2, 1 at £4 2s 6d, 1 at £3 10s, 1 at £2 10s, 1 at £5 5s 6d, 1 at £l2 12s 6d, 1 at £5, 1 at £4 12s 6d,- 1 at £ll 10s, 2 at £4 ss, 1 at £3; fat steers, 2 at.£l3 ss, 4 at £l3 ss; fat heifers, 1 at £3 12s 6d, 1 at £8 10s, 1 at £8 2s 6d; bulls; 1 at £4, 1 at £4 12s 6d, 2 Jersey £5, 1 Shorthorn £5; store cattle, 1 heifer £1 10s, 1 cow £1 10s, 1 vealer 19s, 3 heifer calves £1 6s, 3 yearling heifers 26e, cow and two calves £3 17s 6d, steer £2 12s 6d, 6 Jersey cross heifers £1 15s, 1 empty cow £2 10s, steer £5, 3 empty heifers £4 12s 6d, 2 do. at £2 10s, yearling heifer £l, 17s 6d; dairy cattle, cows in profit at £3 17s 6d, £3 15s, £4 10s, £3 15s, £4, £4 ss, £4 17s 6d, £5 10s, £3 10s, £3 ss; two heifers in profit £3, springing heifer £B. Pigs—Weaners from 10s to 245; storos 25s to 335, light baconers 59s to 625.

STUDHOLME STOCK SALE. The yarding of cattle and sheep at the last Studholme sale was a fair one. Prices were fully maintained, there being a slight improvement for beef. Prices were:— Cattle—Fat heifer £6 2s 6d, fat cows. £B, £4 10s, £7 7s 6d,.£5 17s 6d, £8 7s 6d, £7 7b 6<L four at £5 ss, one passed in at £9, cow £9 2s 6d, fat steer small, £6 10s, fat bullock £13,17s 6d, two empty cows £4 10s, ompty cow £3 17s 6<L springing cows £B, £4 ss, £4 17s 6d, £4 15s, £5 15s, £6 7s 6d, £l2; one purebred Friesian, account Mr J. Briggs, 21 guineas, one ditto 12 guineas. Sheep—Two fat ewes 30s, 24 "fat wethers 395, 6 fat wethers 31s, 180 s.m. ewes (100 per cent, lambs) passed 21s all counted, 45 failing-mouth .ewes and lambs (all counted) 12s sd, 227 full-mouthed owes with lambs 17s 6d. '

ELECTROLYTIC ZINC. The production statement of the Electrolytic Zinc Company of Australasia, Limited, reads as follows: —

LONDON MEAT MARKET FITTER AND SONS' REVIEW. (PBOM OCB 07TS CORSESPOVODTJ'.) LONDON, September 24. Messrs Henry S. Fitter and Sods report as follows: During the past week the New Zealand mutton 3nd lamb situation has changed considerably. The apparent shortage of Soutji American mutton has induced forward buyers to purchase large 'quantities of New Zealand ewes at higher prices than those ruling on the market. While the late start of the Australian season has created a shortage of lambs, and in spite of the fact that the demand will greatly diminish, from now on supplies are hardly sufficient to bridge the t;ap. Meanwhile, the retailer is cutting down bis requirements to a minimum and using instead Home-knled beef. lamb, and pork, mpplies of which are likely to be heavy this autumn.

Supplies of Home-killed beef bave been more than sufficient to meet the demand, and prices decline in consequence. Pitchingß for the next three months are expected to be hea-vy.

The Argentine chilled beef market wad over-supplied with medium quality beef, and values suffered severely; on many days great difficulty was found in clearing stocks. Rather large quantities of New Zealand frozen beef are now arriving, but most of it is going into the country, little as yet appearing on the market. Home-killed lamb is becoming more plentiful and prices are inclined to weaken. Good lambs can now be bought at uuder the prices asked for best frozen.

The rise in the value of New Zealand lamb has been so rapid that, the market has been unable to keep pace with the prices asked for forward shipments. The heavier grades and secondary lambs have been chiefly affected. Naturally higher prices at this time of the year have caused a considerable falling off in the demand. Although there is u good demand for New Zealand mutton in store, the higher prices have caused a falling off in consumption on the market, and trade has been rather quiet. The warm weather has had a very detrimental effect on pork, and some bad trades have been experienced. Prices ore as follows: MUTTON. d d

WHEAT. (BT CA3LI—PBtSS ASSOCUTIOH-COPrRIGHT.) (AUSTSAHAW AXD BT.Z CABJ.I ASSOCIATION) NEW YORK, November 2. Chicago wheat, December 125J, March 1288, May 131J cents a bushel.

v CITY OF SYDNEY LOAN. LONDON, November 2. , The city of Sydney loan closed with the underwriters saddled with 74 per cent, of it.

SHARESLONDON, November 2. Bank of Australasia, £l4 lis 3d; Bank of New South Wales, £43; Union Bank, £l4 10s; National Bank,' £7; Bank of New Zealand, 4 per cent., £4 12s; ex New Zealand shares, 58s 6d; New Zealand Loan and Mercantile debentures, £73 10s; New Zealand Loan and Mercantile ordinary, £95 10s; P. and 0., £263 10s.

HIDES. (Received November 3rd, 8.45 p.m.) MELBOURNE, November 3. Hides are strong: a.nd va!ue3 have advanced a- full farthing all round.

..AUSTRALIAN MARKETS. (Received November 3rd, 8.45 p.m..) SYDNEY, November 3. Wheat—At country stations 5s a bushel, ex truck Sydney 5s 7*d, large growers' lots 5s Gd, bagged-nominally 5s lid to 6s. Bran—£7 a ton: Pollard—£7 10b a ton. Flour— For export J612 5s a ton, f.0.8.; local £l4 5s a ton. Oats—Tasmauian Algerians, 5s 3d a bushel; white, 4s lOd. Maize—Yellow oe 3d a bushel. Potatoes—Tosmanian £8 to £ll 10s a, ton. Onions—Victorian £5 to £ll a ton. ADELAIDE, November 3. Wheat—Growers' lots 5s 5d a bushel, parcels nominally 5a 7Jd. Flour—Bake-re* lots £l4 2s Sd a, ton. Bran—£7 16s a ton. Pollard—£7 7s 6d a ton. Oats—3s 6d a. bushel. .

I WOOL.

(Received November 3rd, J 1.40 r>m') a, 4v , , S ™NEY. November 3. At the wool sales there was keen' general competition. The market was firm and quite equal to the best point of the week'e sales. Comebacks and crossbreds eold at late full rates. Good clearances were effected. Greasv merino eold to 291 d.

DROP IN BUTTER PRICES. *„♦♦« i. V > KCO P*ER, November 2. Butter has dropped two cents a pound "5 40 to ™t 3 C6nts * "tilers According to grade. The decline is attr£ buted to heavy supplies of Alberta butter competing with New Zealand butter.

TALLOW

Dalgety and Company, Ltd., have received the following cablegram from their London office, dated November 2nd:— "Tallow—At the weekly auction 741 casks were offered and 97 per cent. sold. Prices are ninepenee higher._ We quote:—Fine mutton 395, good mixed"39s 3d, inferior 36s 3d. Messrs A. H. Turnbull and Co. have received the following cablegram from W. Weddel and Co., Ltd., dated London, 2nd instant: — "At tallow auctions to-day 700 casks were offered and 700 sold. Late rate* to 9d more."

HORSE BREEDING. At a conference of representatives of farmers' organisations interested in horse breeding, held on Wednesday,,it was agreed that something ought to be done to encourage farmers tp breed more draught horses. The general opinion vas that tractors would not completely take the place of horses for many years, and that at the rate at which tractors were being imported at the present time there would still be a good market for many more draught horses than farmers are now breeding. The following resolutions were arrived at: That A. and P. Associations and branches of the Farmers' Union in their respective districts should be asked: (a) To make enquiries amongst their members as to the number of mares available for breeding this season; (b) to report as Jo whether there were in the various districts stallions suitable for breeding draught horses. The object of this actios is to get all farmers in each district to use any. mares they have for breeding for the next two or three years. Information as to the number of mares in each district is to reach Mr A. E. (J. Lyttle, secretary of the Farmers' Union, by November 10th, as it is proposed to have another meeting at the Show Ground on that day. .' ■ ■

CHRISTCHURCH STOCK EXCHANGE. Very little movement was noticeible in any •tooks on call yesterday. Buyers, who have been predominant in the market for some litti* time, have apparently called a halt for the moment. In moat cases buyers' quotes were the same as the previous day' 3 figures. The markets are firm, but slow. A decrease in the volume of business is to be expected in view of approaching holidays, and as the:e has been no apparent weakening, indications point to stronger markets in tha sear future.

In the and Bond section, 4J per cent, (tax free) stocks and bonds displayed no life; buyera offered £96 ss, sellers £96 10s. £IOOO ci per cent. 1933 Stock was released at £lOl ss, buyers falling back to £lOl 23 6d, no sellers offering. ■ In the Banking section, Australian "Bank oi Commerce, 100 changed hand 3 at 82s Od, sellers offering more at that price, buyers S2s fid. Thirty-seven Bank of Australasia were- released at £l-4 lis 6d; market closed £ll lis buyers, £l4 12s 6d sellers. Bank of New South Wales had sales—five at £l4 4s and six at £44 ss; buyers offered £44 4a for further supplies, sellers asking £l4 Cs. Union Bank: Buyers increased their offers slightly to £l3 16s 6d, sellers offering at £l4 is 6d. Kight3 to new shares were sold at 523, but this did not satisfy the market, buyers wanting more at that figure, sellers holding for 535. Fractional rights changed hands at 9s 3d 9s 2d, sellers being left in at 3s 2d, no buyers quoting. In the miscellaneous investment section, an odd parcel of Goldsbrough, Morts were turned over at 47s Sd, market closing 46s lOd, 475. N.Z. Refrigerating Company: Fully-paid shares were slightly' firmer "at buyers 15s 4d, sellers 16*. For the 10s paid shares in this company, after a sale of 100 at Ss, the market was fractionally easier at 7s lid buyers, Ss sellers.

Colonial Sugars entered the buying list at .£54 2a 6d, cum a dividend of 20s and bonus of ss, but none was offered by sellers. Electrolytic Zincs: Preference share* firmer; S2s 3d was offered by buyers, an advance of Sd on "Wednesday's figures, sellers 32s Cd. Ordinary shares wore wanted at 31s, no sellers offering. There was a turnover of 100 X.Z. Drug Company shares at 64s 6d, buyers offering 64s 3d for more, but further sucplies were not' available. In the mining section, 300 Kawara.ua changed hands at lOd, sellers offering mora at lid, but buyers did not quote. Waihi Gold Mining, which are ex dividend of is, were sold at 21s 6d, 400 changing hands at that figure; market closed buyers 21s 4d, no sellers. Mt. Lyells were firm at 27s 3d buyers, 27s 9d sellers.

YESTERDAY'S TRANSACTIONS. Sales on 'Change—N.Z. Govt, ah per cent. Inscr., 1936, £lOl 5s (two parcels); Auat. Bank of Commerce, 32s 9d; Bank of New South Wales, £44 4s, £l4 ss; Union Bank (rights) 525, (fractions) Ss 3d (threo parcels), Ss (two parcels); Goldsbrough, Mort, 4'7s 9d; N.Z. Kefrig. (contr.), 8s; Kawarau, lOd. Sales reported—Bank of Australasia, £H Us Gd (two parcels); N.Z. Drug Co., 64s 6d; Bank of New South Wales, £44 ss; Union Bank (rights), 535; Waihi, 31s Cd. (two parcels).

LATEST QUOTATIONS.

OTHER EXCHANGES

(rBSSJ ASSOCIATION TBLEGBAMS.) AUCKLAND, November 3, Sales—Auckland Harbour Board, 1940 5S per cent~ p er cent., £lOl 2s 6d; Bank of New Zealand 5Ss 3d; Union Bank of Australia, rights 535. 52s 3d, fractions 8s 3d, 8s 3d, 8s: New Zealand Insurance, 38s 7d; Farmers' Co-op ■ Auctioneering (B pref.), 15b; Hikurangi Coal. 2s 9d, A pref. 5s Id; Auckland Gas, 22s 6d. con. 16s 9d; Sanford, Ltd., 20s; Occidental Una (con.), Is sd, Is 5Jd, Is' 6d; Ohinemuri Gold and Silver, 6s 6d. | 'WELLINGTON, November 3. j Sales reported—Union -Bank (rights), 535, 5Ss 2d, and 5Ss 3d; Union Bank (fractions), Ss €d; New Zealand Insurance (two parcels), S9s; Ward and Co., *3"B Gd; Wilson's Cement, 36s 6d. j DUNEDIN, November 3. I Sale—Auckland Amusement Park (ord.), 16s 6d. Sales reported:—Goldsbrough. Mort. 48s sd; 5} per cent. Inscribed Soldiers (1933), £lOl ss; Union Bank (rights), 53s (prem )'. i ' .

Four weeks Four weeks ended 21st ended 19th September, October, 1927. 1927. Zine—tons .. 3750 37S4 ' Of which used at the worts 60 60 Silver lead product for shipment to Port Pirie for realisation: Lead-*-ton» . 850 510 • Silver—ounce* ...70.000 69.000

English sheep . 9 to 11 Scotch sheep . 104 to 11* New Zealand wethers, 44-601b 6 to 6J New Zealand wethers, 67-801b . . 5J to 6 New Zealand ewes, U/5611) . 43 to 5 New Zealand ewes 0/561b . 44 to 45 Souht American wethers . 43 to 5J Australian wethers . 4!J to 5 LAMB. Scotch Hill . 0 to 11 Scotch . 10J to 12 English . 9J to 12 New Zealand 2's .9 to 9§ New Zealand 8's . . . 8J to 9J New Zealand 4's . 8J to 9 New Zealand secondares . 8$ to . 9 Australian . . — — Argentine . . . . 7J to 8' BEEF. English, long sides . 6J to 8J Scotch short . . , . . 10 J to 11 & Argentine chilled hiudquarter s 6 to 62 Argentine chilled foreqiiarters . . 3J to 4 New Zealand prime ox hind i luarters, New Zealand prime ox fore quarters, New Zealand prime cow hind quarters, and New Zealand prime cow fore quarters are noi ninal. PORK. English (under 801b) . 103 to 12 Euglish (80-1201b ) .. . 10 to 11 English (120-1601b) . 9 to 10 English (over 1601b). . » to 8! New Zealand ,. . 7-1 to 8J South American . 7J to 8

Buvers. Sellers. £ e. d. £s. d. N.Z. GOVT. DEBENTURES— ii per cent. Inscribed, 1933 .. . .. 96 5 0 — Ik per c«nt. Inscribed, " 1939 SB 5 0 96 10 0 4i per cent. Bonds, . 1933 96 S 0 — BJ peir cent. Inscribed. 1927-41 9S 10 0 — 5i per cent. Inscribed, 1933 101 5 0 101 10 0 5J per cent. Bonds, 1933 ... 101 5 b — BJ per cent. Inscribed, 1936 101 2 6 101 7 a COMPANY DEBENTURES— N.Z. Breweries, Bonds 1 3 6 13 9 Booth, Macdonald, 6i per cent., 1932 — 70 0 0 BANK8Adelaide (cum div.) 8 16 6 8 18 6 Aust. of Commerce 1 12 8 1 12 9 Australasia, .. • 14 11 0 14 12 6 Comm. of Au3t. • 1 8 9 19 0 Comm. of Auet. (pref.) 7 1 0 7 3 0 Comm. of Sydney — 24 17 6 National of Australasia (£10 paid, cum div.) 17 11 0 17 18 6 National of Australasia (£5'paid, cum div.) 8 14 0 S 15 0 National of N.Z. — 6 18 0 New South Wales 44 4 0 U 6 0 New Zealand 2 IS 0 3 18 2 New Zealand (Mortgage Shares, 10a -paid) .. 0 16 9' — Queensland National (cum div.) S 6 0 8 9 0 Union of Auet. 13 16 6 14 2 6 Union of Aust. (rights) 2 13 0 2 13 0 Union of Aust. (fractions) 0 0 0 0 9 2 INSURANCE- » Mutual — 16 9 National (cum- div.) .. 4* 0 0 New Zealand .. 1 IS 4 1 18 9 South British — 2 16 9 LOAN AND AGENCY— Dalgety and Co. (cum div.) 13 11 0 13 13 0 Dalgety and Co. (new) 13 0 6 13 2 0. Goldsbrough, Mori 2 7 8 2 7 11 Goldsbrough, Mort (new) ,2" 6 10 2 7 0 v National Mortgage 3 10 0 S 16 0 N.Z. Loan and Mercantile (ord. etock) .. 93 10 a — Perpetual Trustees — 3 5 0 SHIPPING— Devonport Ferry I 3 0 15 0 P. and 0. Deferred Stock (cum div.) ... : 267 0 0 276 0 0 Union (pref.) 10 0 — FROZEN MEAT— Canterbury 7 15 6 S 0 0 Canterbury (prof.) 4 16 0 5 10 N.Z. Refrig. (£1 paid) 0 15 4 0 16 0 N.Z. Refrig. (contr.) .. 0. 7 11 0 8 0 WOOLLENS^ Kaiapoi (17s paid) 0 8 0 0 8 6 COALWestport 1 15 0 — GASChriBtchurch .. 1 S 5 13 8 Christchurcb (new, S* paid) 0 6 I 0 6 6 "fiinaru .. . ... 1 1 0 13 0 BREWERIBSCrown 0 13 0 0 16 0 New Zealand .. ■ 2 4 0 2 5 0 Staples 1 18 0 1 18 9 Ward I'll 0 1 17 6 White Star .. — 10 0 CEMENTS- . Wilson's ... 1 15 9 — TIMBER— Kauri l 3 : 11 1 4 6 MISCELLANEOUSAuckland Amusement Pattk 0 16 3 0 17 0 Aust. Glass (cum' div.) 2 1 6 — Beath and Co. 1 12 0 1 12 5 British Tobacco 2 IT 0 3 10 Colonial Sugar (cum div.) .. ... 54 0 S — Electro. Zino (ord.) 1 11 0 1 11 5 Electro. Zinc (pref.) .. 1 12 3 1 12 6 Heury Jones Co-op. 1 17 6 1 18 3 Holden's Motors 1 12 10 1 13 5 Hume Pipe — 0 15 3 'Mercantile Finance Corporation (5a paid) 0 1 3 0 2 o; N.Z. Drug Co. S 4 3 N.Z. Farmers' Co-op. 1 (pref. re div. only) 1 7 6 2 0 0 N.Z. Farmers' Co-op. (6$ per cent. Stock, ,1930) 73 0 n ' 77 10 0 N.Z. Guarantee Corpn. 0 8 7 0 S 8 N.Z. Paper Mills (cum div.) 0 16 3 7 Whitcombe and Tombs 0 3 8 0 Sanfovd, Ltd. I 0 S Greater Crystal Palace 0 17 4 10 0 MININGKawarau 0 0 10 0 0 11 Mt. Lyell 1 7 3 17 9 Waihi (ei div.i 1 1 4