FINANCE AND COMMERCE

Press, Volume LXXI, Issue 21418, 9 March 1935, Page 12

FINANCE AND COMMERCE

f YESTERDAY'S TRANSACTIONS j ! There was an increased turnover on • call yesterday, with the bulk of the j dealings in bank shares and indus- ! trials, several of which showed a flrmj ins tendency. Government issues ; were firmly held. The market for j shipping company shares was bare. I Transactions, exclusive of vestiDUie j business, were: — LISTED STOCKS ! Sales on 'Change £ s. d. ; 10 Com. Bank of Sydney 16 4 6 ! 10 Bank of N.S.W. .. 30 0 0 ! 200 N.Z. Refrig. (10s pd.> 0 8 11 | 100 Tooths Brewery .. 2 8 ! 300 Dominion Fert. (3; 12 2 ! 40 N.Z. Drug Co. . . 3 19 ji 500 Big River (2) 0 Z j* | 200 Gillespie's Beach .. 0 1 ' I 300 Golden Sands .. " i f. 1 500 Goidtields Dredging .. 0 0 b j 500 Nevis Diesel Electric 0 0 1 2 - I 1000 Maori Gully (3) 0 14 i Sales Reported i 5 Bank of N.S.W. . . 30 0 0 | 300 Bank of N.Z. (2> 2 9 3 I 100 Standard Insurance I (.late sale ThursJ . - 3 300 N.Z. Guar. Corp. ■ ■ 0 6 <) 400 N.Z. Refrig. (£1 pd.) ° 19 6 150 N.Z. Refrig. (10s paid) 0 9 0 40 Southland Frozen Meat 3 18 0 100 N.Z. Breweries • • 2 10 8 100 British Tobacco (cum div.) •• •• 1 *8 1000 Dominion Fert. 1 - ~ i3J 12 4 300 Gillespie's Beach .0 17 UNLISTED STOCKS Sales on 'Change 300 E. Reece, Ltd. (pref.) 0 2 6 250 Upper Watut <2s paid.) 0 5 10 Bank Shares ; Commercial Bank of Sydney moved up to £l6 4s 6d, closing quotations 6d on either side. Sellers of National Bank of New Zealand reduced their limits to G;<buyers at 04s 6d. Bank ol New S:.uth Wales were firm with Olivers a:ic' dealings at £3O, selleis t .it i £3O ss. Rank of New Zealand re- ' mamect umiiiered with buyers and dealings at 49s -id, sellers at 49s sd. A j late sale of Standard Insurnce on j March 7 was reported at 72s 3d. New Zealand Guarantee Corporation changed hands at 6s, closing quotations Id on either side. New Zealand Refrigerating fully paid were steady with sellers and business at 19s 6d, buyers at 19s 3d —the 10s paid had dealings at 9s and 8s lid, and these were sellers' and buyers' closing I quotations respectively. Southland Frozen Meat fully paid ordinary were firm at 78s, market closing 77s buyers. 7 8s 6d sellers. New Zealand Breweries were fractionally firmer with buyers and business at 50s Bd. sellers at 50s 9d. Tooths Brewery shares slid back to 48s and 47s lOd, buyers staying in at the lower ■ price, sellers at 48s 9d. British Tobaccos were firm with sellers and business at 38s. buyers at 37s lOd. Dominion Fertilisers firmed to 22s 2d and 22s 4d, market closing 22s id buyers, 22s 2d sellers. Electrolytic Zinc preference cum dividend were firmer on buyers' offers 35s 6d. New Zealand Drugs had business at 79s 3d, and there were further unsupported sellers at 79s Gd. Mining Big Rivers were firm with buyers and dealings at 2s 2\d, sellers at 2s 3d. Gillespie's Beach remained unaltered at Is 7d, buyers staying in at that figure, sellers at Is 7id. Golden Sands were fractionally weaker at 2s 2d, and there were further buyers at that figure, sellers at 2s 6d. Goldfields Dredging were weaker with sellers and business at 6d, buyers at sid. Buyers of Kildares raised their bids to 3s 2Jd without attracting sellers. Maori Gully remained unaltered with sellers and dealings at Is 4d, buyers at Is 3id. Nevis Diesel had business at lid, buyers staying in at that price, sellers at 2d. Unlisted Stocks E Reece, Ltd., preference remained at 2s 6d. Upper Watut 2s paid remained unaltered with buyers and business at 5s lOd, sellers at 6s. AUCKLAND [THE PRESS Special Service.} AUCKLAND, March 8. The easier tone which has marked operations on the Auckland Stock Exchange during the last few weeks was again apparent during the week ended to-day. Buyers remained cautious, and there was no general uplift in levels, although some isolated advances occurred. Speaking generally, sellers continue to make the first moves in arriving at a basis for dealing. The total turnover for the week was hardly up to the average. A feature of the week was the lack of business in industrial shares, a condition in striking contrast with that earlier in the year. Practically no in- j terest was shown in Australian industrials, which recently declined as a result of uneasiness on the Commonwealth exchanges. However, in spite of the measure of recovery in the Australian investment market, investors in Auckland are still hesitant to some extent. Also, the market for New Zealand industrials has been adversely affected. Lower prices still rule for banks, while the mining market is almost lifeless, apart from the Waihi issues. Unsatisfactory conditions in other sections of the market have resulted in a firm demand for Government loans, especially the longer term 4 per cent, issues. As instances of this i stronger trend, 1946 4 per cent, stock changed hands £1 2s 6d higher at £lO6. and 1949 stock £1 1 higher at £lO9. The 1940 4 per cents, were done steadily at £lO2 10s. Only passing interest was shown in banks until yesterday, when nine sales were recorded. Australian issues were done at unchanged to lower rates, except for a slight improvement in New South Wales, Unions, and Australasias. There is yet no indication of a general advance in this section of the banks' group. There was some evidence of the fall in New Zealands being checked. Insurance shares, which have had stronger support than any others during the last year, are at present scarcely maintaining their values. New Zealands recovered in dealings to 67s 9d, a rise of 9d; but South British declined by 6d to 93s 9d. Most loan and agency shares show easier tendencies, due to the unfavourable wool market. In the mining market, Waihis remain well favoured. Sales were made up to 41s 6d, a rise of 3d, with later dealing at 41s sd. Waihi Junctions were unchanged in dealing at 4s 9d, while Big Rivers showed a slight improvement. —,—— | DUNEDIN [THE PRESS Special Service.] DUNEDIN, March 7. A large volume of business was recorded on the stock exchange during the last week, transactions being fairly evenly distributed over the vari-

SHARE MARKET j ! WEEKLY REVIEW j i During the last week the shaie I market continued fairly active, and j there was an increase in the num- j ber of transactions recorded on the ; metropolitan exchanges. Four per j cent. Government issues were in j steady demand, prices of the longer j dated loans appreciated and substan- i tial dealings were put through. Bank i shares and industrials also accounted | for a larger turnover. In spite of the j marked advance in ihe price of gold j there was a falling off in the volume j of business done in shares in the ; mining section. The following is a . comparison of the daiiy recorded 'urn- j over on the local market for the last , fortnight. This Week Last Week ! £ £ | Saturday .. 9193 1511 > Monday .. 2412 I Tuesday . • 3329 5961 Wednesday . - 4031 3162 Thursday .. 3152 4056 Friday . . 4169 2712 £26.886 £ 19,141 The local turnover was made up as follows: —Debentures £8940. banks £5637, pastoral £682. refrigerating £975. breweries £2367. gold mining £2121. The number ol shares that changed hands in each section was:—Banks 1708. insurance 200. loan and agency 1640. frozen meat 1515. breweries 950. miscellaneous 2874, gold mining 18.766. Government Leans The following transactions were recorded: — £ s. d. .Tip.c. Stock. 19:18 52 ..107 0 0 Z\ p.c. Stock. 1941 ..102 0 0 4 p.c. Stock. 1940 . . 102 '0 0 4 p.c. Bonds . . 102 10 0 4 p.c. Stock, 1946 . . 106 0 0 4 p.c. Stock. 1949 .. 109 0 0 4 p.c. Slock, 1950 .. 111 0 0 H 111 5 0 111 2 G Rural Bonds ..105 0 0 105 15 0 Auckland Harbour Board 4| per cent. Debentures due 1951 changed hands at G108; Mount Albert Borough 4| per cent.. 1955. at £lO5 15s, and Waimakariri River Trust 41 prr cent., 1965, at £lO6 10s. Bunks Australasia cum dividend were Jirm at £ll 7s 6d and £ll 7s. Commercial of Australia ordinary were fractionally firmer at 16s Id to 16s 3d—the preference were easier at £9 17s. Commercial of Sydney changed hands at £l6 Os r>d. £l6 2s 6d, and £l6 4s 6d. E.. S.. and A. had business at £5. National of New Zealand had dealings at 68s 9d and 68s 6d„ and closed weaker, with local sellers at 68s. National of Australasia £lO paid were dealt in at £l2 18s. New South Wales were steady at £3O and £3O 2s 6d. New Zealand fluctuated between 49s 2d and 49s 6d—the "D" Mortgage showed a finning tendency at 32s and 32s lid. Reserve Banks were firm at £6 10s to £6 10s 6d. Union Bank were stronger at £8 14s and £8 K'K Insurance and ..oan and Agency New Zeaalnds firmed to 68s and 67s 9d. South British declined from 94s 3d to 93s 9d and 945. Standards ex dividends were firmer at 72s and 72s 3d. Farmers' Co-op. Auctioneering £5 paid had business at 70s. Goldsbrough, Morts were easier at 28s 2d and 27s 9d. New Zealand Guarantee Corporation had dealings at 5s lOd to Gs Id. United Building Society were steady at 22s 9d. Wright, Stephenson preference were fractionally weaker at 19s 9d. FrcZen Meat, Woollens, Coal, and Gas. N.Z. Refrigerating £1 paid showed recovery at 19s 4d, 19s sd, and 19s 6d —the 10s paid appeared easier at Us and 8s lid. Southland, ordinary, had dealings at 77s 6d, 77s 9d and 78s. Wellington Woollens advanced to £5 18s 9d. Renown Coal relapsed to Bs. Westports eased to 21s 3d. Stockton, ordinary, were dealt in at Is and Is 3d—lhe preference were firm at 3s Bd. Auckland Gas changed hands at 27s 4d and 27s (id. Wellington, ordinary, moved uo to 44s—the preference were steady at 265. Breweries Dominion dropped to 14s 9ti. New Zealand were firmer at. prices ranging from 50s 5d to 50s 9d. Tooths rose to 48s 5d and 495, easing at the close to 4Ss and 47s lOd. Miscellaneous Anthony Horderns had business at 17s 6d; Australian Iron and Steel, preference, moved up to 22s 6d. British Tobaccos were firm at 38s. Broken Hill Proprietary recovered to 50s 9d, 51s, and bis 3d. Colonial Sugar advanced to dealings at prices ranging from £4O 12s 6d to £4l 7s 6d. Consolidated Brick eased to 9s 3d. D.I.C. preference were steady at 25s 6d. Electrolytic Zinc, ordinary, moved between 21s 6d and 21s lid. Mauri Bros, and Thomson gained Is 6d at 44s 6d. Milburn Lime advanced 6d to 43s 6d. Millaquin Sugar had business at 34s 6d. New Zealand Drugs were firm at 795, 79s 3d. and 80s. New Zealand Farmers' Co-operative, 4i per cent. Stock, due 1940, changed hands at £B3 ss, and that due 1945 at £B3. New Zealand Farmers' Fertiliser firmed to 19s lid. New Zealand Newspapers eased to 33s Od. Quiii Morris relapsed to 4s. Rotoiti Timber were firm at ss: Taupo Toiara at 5s 6d and Wilson's Cement at 345. Taupo Totara, preference, realised 22s 6d. Woohvorths ' New Zealand), ordinary, showed little variation at .£!) 15s and £9 16s. Northern Roller Mills had business at 335. and the preference at 265. Gold Mining The local turnover of 18,760 shares was made up as follows: —Alexander <lss paid; 150, Bendigo Goldlights 1000, Big River 2466. Black water 100, Brian Boru COO, Gillespie's Beach 1300, Golden Sands 300, Goidtields Dredging 2500, Kildare 300. Lawson's Flat. 4000, Mahakipawa 1300, Maori Gully 1000, Mount Lyell 500. Mount Morgan 150, Nevis Diesel Electric 500. Nokomai 400. Okarito 100, Skippers 2000, Waihi 100. Alexander Mines (15s paid; were easier at 16s 8d and 16s Gd; Bendigo Goldlights, at lOd; Goidtields Dredging at 7d, 6i, and 6d; Golden Sands at 2s 2d; King Solomon at 3s lOd; Lawson's Flat at 3d: Waitahu at 2s 7d, and Nevis Diesel Electric at lid. Blackwatcrs were firm at 31s 6d and 325; Brian Boru at 3d; Big River at 2s to 2s 3d; Kildare at 3s; Mahakipawa at 9id and 9d; Mount Morgan at 38s 9d and 38s 8d; Maori Gully at Is 3d and Is 4d; Nokomai at 2s 2id ;tnd 2s 3d; Okarito at 7s and 7s sd; Skippers at sd; Waihi at 41s 3d io 41s 6d; and Grand Junction at 4s 9d. Gillespie's Beach were firmer at Is 7d to Is 8d: Mount Lyells at 17s 3d to 17s lid. North Broken Hill changed hands at £5 2s. and Placer Development at £2B ss. I

ous sections of the list. Banking shares were fairly active. There was also a revival of interest in mining ventures. Bank of Australasia shares were on offer at £ll 8s at the end of the week, but buyers showed little interest. Three parcels of Bank of New South Wales shares changed hands at £3O. the market closing with a seller at £3l, no buyers offering. Some activity was shown, in Bank of New Zealands, five parcels being dls P° of at £2 9s 3d, and two at £2 9s 2d, a final seller at £2 9s 4d remaining unanswered. Buyers of E., S., an A. Banks were prepared to £4 19s but sellers would not accept less than £5 2s. Four sales of Union Banks at £8 13s were recorded, the final selling quotation remaining unchanged at £8 14s. x f nr National Insurances were offered ioi sale at £1 Is 10d, but buyers were not interested. New Zealand Insurances were disposed of at £3 7s 9d sellers failing to respond to the final buying offer of £3 7s ' 6d. Stan<iar Insurances were on offer at 6d without sellers coming forwaid. Preferred Huddart Parkers were offered for sale at £1 9s, but buyers were reticent. Union Steam Ship Company, preference were the subject of business at £1 <s „d, the closing buying and selling quotations being £1 7s and £1 7s 6d respectively. Paid up Southland Frozen Meats sold at £3 18s and £3 1/s 9d, sellers' final quotation of £3 18s 3d failing to attract further buyers. Sellers of Goldsbrough, Morts were prepared to accept £1 8s 3d, but buyers did not come forward. National Mortgage B issues were enquired foi at £1 30s 6d, but sellers were not interested. New Zealand Loan and Mercantile shares were offered for sale at £45 without buyers coming forward. Industrial Stocks Broken Hill Proprietaries were disposed of at £2 lis and £2 10s Sd during the week, the closing selling quotation of £2 lis 3d failing to interest buyers British Tobaccos changed hands at £1 18s, the latest quotation being a seller at £ 11® bd. Colonial Sugars were enquired for at £4O without sellers making any response. Two parcels of these shares were reported to have been sold at £4O 15s. There was a slight improvement in the market for Dominion Fertilisers, buyers' closing offer being £1 2s; sellers required £1 2s Id. Business at £1 2s 2d was recoided for Dominion Rubbers. Buyers were prepared to give £1 lis 6d, but sellers failed to respond. Milburn Limes changed hands at £2 3s 6d, the mar--1 ket closing with a buyer at £2 3s. Two parcels of New Zealand Diugs were also the subject of business at £4, closing buying and selling quotations remaining unchanged at £3 18s 6d and £4 respectively. Ordinary Woolworths shares were disposed of at £lO, a final seller at £lO 5s remaining unanswered. The Sydney issue was also dealt in at £4 12s the market closing with a seller at £4 12s 6d. There was an improved demand lor New Zealand Breweries, buyers offering £2 10s 6d, while sellers required £2 lis. A number of sales at £2 10s 6d and £2 10s 9d were recorded. Timaru Breweries were enquired for at 8s 6d, but sellers required sixpence above that figure. Timaru Gas shares were offered lotsale at £1 2s 6d during the week. Buyers evinced no interest. Mining A sale ol North Broken Hills at £5 2s, cum dividend, was recorded during the week, no quotations ioi these shares being received on "change. Three sales of Mount Lyells at 17s 9d were announced, a final buyer at 17s 6d being unsupplied. Upper Watuts (2s paid) were disposed of at 5s 9d, the market closing with buyers at 5s 6d. Ordinary Electrolytic Zincs were the subject of business at prices ranging from £l_ Is 6d to £1 Is lOd, buyers' closing offer remaining at the latter figure, while sellers required one penny extra. Big Rivers were disposed of at 2s lid and -2s 2d, a final buyer at the latter price being one penny below sellers' requirements. There was an improved demand for Kildares, which were enquired for at 3s. Sellers, however, would not do business under 3s Id. Two parcels of Gillespies Beach shares changed hands at Is Bd, the closing buying and selling quotations being Is 6£d and Is 7id. Nokomais were also in better demand at 2s 3d, sellers requiring 2s 6d. Business at 2s 8d was recorded earlier in the week. Okaritos were dealt in at 7s, the latest buying and selling quotations being 6s lOd and 7s Id respectively. Waitahus were sold at 2s 7d, buyers remaining unchanged at 2s 6d at the close of the market. Maori Gullies were enquired for at Is 2d, sellers remaining firm at Is 6d. Business at Is 3d was recorded. There was a steady demand for Government Loans, a slight easing being noticeable in the enquiry for 4 per cent, bonds and stock, 1946, on which interest was due last month. A sale of 4 per cent. Stock, 1940, at £lO2 10s, was recorded. TIMARU WOOL SALE NEXT WEDNESDAY'S CATALOGUE (arsclAL to the press.i TIMARU, March 9. A total of 22,148 bales will be offered at the second and final wool sale of the season at Timaru on Wednesday next. Last season there were three sales in Timaru, and the aggregate offering for the second and third auctions was considerably greater than that for next week's sale. At the same time the catalogue is regarded in the circumstances as satisfactory, considering that a quantity of wool, because of the usual middle sale being omitted, has been disposed of otherwise, and also that the low prices ruling lately have resulted in growers refraining in instances from facing the market. By far the greatest proportion of the clip will consist of crossbreds and halfbreds of good quality. Merino wool is in particularly good order, it being considered that it has never been better so far as South Canterbury is concerned. Clips from the back country and early-shorn lots look well, but in clips shorn later heaviness is apparent, no doubt because the yolk in the wool was brought up by the prolonged spell of hot weather. Anticipations are that the sale will be a good one. The catalogue is as follows: — Bales. National Mortgage and Agency Company .. 6,292 Canterbury Farmers' Co-op. Association , . .. 5.486 Dalgety and Company .. 5,408 Pyne, Gould, Guinness . . 4,057 New Zealand Loan and Mercantile Agency Company 905 Total .. .. .. 22,148

VALUES ON STOCK EXCHANGE

DUNEDIN Sales on 'Change £ s. d. Electrolytic Zinc (ord.) (2) 1 110 Big River (2) 0 22 Sales Reported Union Bank (2) 813 0 N.Z. Insurance .. 3 7 9 Union Steam (pf.) 17 3 Southland Frozen Meat (pd.) .. 3 17 9 1 3 18 0 N.Z. Drug 4 0 0 N.Z. Breweries <.2> 210 9 Electrolytic Zinc lord.) .. 1 1 10 Big River 0 22 Gillespie's Beach (.2) 0 17 Waitahu .. 0 2 7 Maori Gully .. 0 13 SYDNEY On the Sydney Stock Exchange yesterday, in a quiet market for investments, values showed little change from recent levels. Morning Sales £ s. d. Commonwealth Bonds — 3J p.c., 1948 .. .. 101 12 6 4 p.c., 1938 .. .. 104 10 0 4 p.c., 1941 .. .. 105 15 0 4 p.c., 1944 .. .. 106 17 6 4 p.c., J953 .. .. 107 7 6 4 p.c., 1957 .. .. 108 0 ; 0 Toohey's Brewery .. .. 19 0 Tooth's Brewery .. .. 2 8 6 British Tobacco .. .. 118 3 Afternoon Sales £ s. d. Bank oi New South Wales 30 5 0 Com. Bank of Sydney 16 10 0 Queensland National Bank 5 0 0 Colonial Sugar .. .. 41 17 6 Australian Provincial Assurance .. .. 0 10 6 Adelaide Steam .. .. 1 10 0 Australian Gas A 7 17 0 British Tobacco .. .. 118 0 Tooth's Brewery .. 2 9 0 Amalgamated Textiles .. 0 9 9 Winchcombe, Carson .. 15 7A Farmers .. .. .. 15 0 Lustre Hosiery .. .. 17 0 Henry Jones .. .. 1 15 3 Mount Morgan .. 1 18 0 Broken Hill Proprietary .. 2 11 9 Placer Development .. 28 5 0 Euratha Gold .. 0 3 5 Commonwealth Bonds—--4 per cent., 1938 .. 104 10 0 4 per cent., 1941 .. 105 15 0 I 4 per cent., 1944 .. 106 17 6 4 per cent., 1950 107 8 9 i 4 per cent., 1959 .. 108 0 0 ! I j MELBOURNE ! i I £ s. d. E., S., and A. Bank 5 0 0 Herald and Weekly Times 218 6 Zinc Corporation .. 1 10 6 Mount Lyell .. .. 0 18 0

BANK OF ENGLAND RETURN

LONDON, March 7. Tlio following is the Bauk of England return for the week ending March 7:— ISSUE DEPARTMENT £ £ Notes issued— Govt. debt. 11,015,100 In circula- Other Govt. tion .. 380,066,120 securities '245,532,08S Id bank- Other spelling dept. 72,454,463 rities .. 70G.153 Silver coin "2,440,659 Fiduciary issue . -60,000,000 Gold coin & bullion 19'2,520,353 Total 452,520,583 Total 432,520,583 BANKING DEPARTMENT £ £ Proprietors' Govt, secucapital 14,553,000 rities . 85,146,044 The rest . 3,702,360 Other secuPublic do- rities—posits . 11,201,601 Discounts Other de- and adposits— vanens . 5,426,227 Bankers' 104,484,065 Securities 10,757,121 Other acs. 40,414,329 Notes .. 72,454,463 Seven-day Gold and and other silver coin 571.500 hills .. - Total 174,355,355 Total 174,355,355 Proportion of reserve to liabilities, 46.70 per cent.; Bhort-dated bills, | per cent.; three months' bills, 9-16 per cent. The fiduciary issue of £260,000,000 consists of the following:—Government debt, other Government securities, other securities, and silver coin.

COMPANIES REGISTERED Tin' current issue of the ' ".Mercantile Gazette'' notifies the registration of tHe following new ' companies : Still*, Ltd.—Registered us a private company, i'ebruary 25. Office: ilain South road, Hornby. Capita]: .1:2000, in 2000 shares of £1 each. Subscribers: Hornby— A. Still, sen., 1600, R. W. Still 100, A. Still, jun., JOO, A. Still 100, M. M. Still 100. Objects: Storekeepers aiul incidental. Brown (Hugh), Ltd. —Registered as a private company, February 28. Oflice: Dunsandel, Canterbury. Caxiital: £IOOO, in 1000 ordinary shaves of £1 each. Subscribers: Dunsamlel—A. ,T. Brown 800, 11. A. Brown COO. Objects: Storekeepers, seed, hardware, crockery merchants, and incidental. Real Health Bakeries, Ltd. —Registered as a private company, March 2. Office: 212 Ferry road, Christcliurch. Capital: £-100, in 400 'shares of a:1 each. Subscribers: Dunsaudel —V. F. Kirlcby 200. Ashburton —L. O. Tyler 200. Objects: Bakers and incidental. Increase of Capital \ckroyd Bros, and iMeadowcrof t, Ltd. Capital 'increased from i'looo by addition of £IOOO. Subscribers: Christcliurch— A. J'.. Ackroyd !I9!K M. A. Meadowcroft 1. Jvegistered March 1. ... Trustees Knim'ulovs, ami Agency Company of New Zealand, Ltd.—Capital . increased to .i'.100,000 bv the creation and issue of 10,000 new ordinary shares of ,E5 each. Registered February G. EGGS AND POULTRY MACFARLANE AND COMPANY'S Macfarlane and Company report the egg market as follows: — First grade Is 2Jd a dozen, second grade Is Id. duck eggs Is 2d. RED COMB EGG AND POULTRY COMPANY The Red Comb Egg and Poultry Company report big yardings at their auction sales of poultry on Wednesday and Saturday. With large quantities offering of all classes the supply exceeded the demand, and prices in some cases were easier. Good boilers, chicken, and duckling were in good demand, but the small to medium varieties were slow of sale. The quality offered was mixed, but contained a fair proportion of good birds, for which bidding was brisk. There is a good enquiry for heavy chicken, duckling, and boilers. The average prices realised for poultry during the week a pair are as follows: Roasting chicken, light to ss, medium to 7s Gd, heavy to 9s 9d; hens, light to 3s 6d, heavy to 5s fid; ducks to 4s, duckling to 6s 9d, goslings to 7s 3d, pullets to 10s, turkeys lOd per lb live weight. Eggs—Tested, machine graded, guaranteed fresh: First grade Is 3d, second grade Is Id.

MIXING

KING SOLOMON KETLRN (FEESS AiiOCiAlS TIL INVERCARGILL. March I The return at King Solomon mm# this week totalled fitio/. Tdv.t. MA H AKII'AWA G OLDII EL DS, LIMITED The report for me period c: ci • " March (j is as follow?:- - The leading: i'acc was advanced a further eight l'eet in poor srr.de wash. The face had a defined sinter in th? centre of it. and this is being followed with an arch drive which j# now :r. a distance of 16 # feet. The hotter. quite low and is softer than before, but as yet no gold is showing. The blocking strip on the west side 165 feet back from the leading face was best-::: out for another 10 feet and stopped as the wash was poor and the bottom rising. We have come back 15 feet frcrr. the face and started a prospect'-.-drive due west, which is following the lowest ground, and ha? bee a driver, for 18 feet in poor grade wash lyisg on a soft bottom. Golden Gate section: A drive v.--started 7b' feet south of the shaft arc*, driven in .a southerly di:>.-ct:-. •! f-:-r U feet, where it hit the wi'tcl; taken almost a right-angled t'.;-:: =* v.-n is now heading south-oast c-.nd i - very steeply. Tt would now app-:a; that the old drives followed the toe c. this wall in an easterly direction for some 300 feet before swinging soctli again. King Solomon section: Cros-'-cu: west from opposite Craig's shaft i; now out 33 feet. After rising about 18 feet at the start the floor dipped an equal amount. For the last eight feet we have not seen the bottom, which is over two feet below the floor of the drive. We will come back and lift up this bottom after driving a few feet further. This drive is now o-.:t under the creek and is consequently wetter, which makes it more awkward to see what values are below the floor level. A cross-cut easr has been started at 27 feet south of the junction of the King Solomon and Golden Gate workings. and has been advanced two feet. Gold is showing in the prospects taken from this face. There will not be a wash-up this week, the laying of the rails for trucking wash from the old workings not having boen completed. CLEARING SALE Messrs C. E. Jones, Ltd., report having held a successful clearing sale on the premises, 239 Papanui road, yesterday. The following prices wo* realised:—Piano £4O. billiards dining table £ls, couch and two chairs £B, rug £3 10s, couch £3 17s b'd, typewriter £2 2s 6d. wardrobe £4 2s 6c. duchesse £4, carpet £3 15s, buffet 15s, 4 chairs £2 6s. girl's blue suite £5. bedstead and mattress £2 13s 6a. 2 chairs £2 13s Cd. occasional table £- 2s 6d. 2 institution bedsteads £2 Ss rug £3 10s. clock £1 17s 6d. settee £1 15s, wringer £2. verandah lounge £1 9s, 2 occasional tables £2, tub chair £1 2s. ottoman £1 Is.

CANTERBURY markets POTATOES FIRMER .g, CVS t'JifMKit' I'L tL.ll.jH.) Friday Evening. The potato market has unproved •tL the week, April-June delivery being quot td at 10 ' s a lon f°h si and on truck prices to £4 - The reported niirciiy m the Auckf;d province IS the mam reason, but mixers i" Canterbury are not infined to accept the P«v<c.H prices, are coming in lrom tAnd It li< ' t expcclcu mat will alter much until the north--n demand develops belter. A fair Cl " .; tv of potatoes was bought lorq rH for April, and by that month Auddand potion will be more d There' was a sharp advance for miens during the week, ana up to c 7 a ton on trucks nas ocen uaid. Growers are not ufVermg very freely Sdafair number m northern orders have come in. Oats remain very linn, the ruling "rirp for prompt A Gartons being 3s jd\o 3s lid f o b., s.i., and for B's foivl wheal market is quiet with quotations unchanged a; 4s 4d fob., £ C for Board wheat and -is 3d lor '°Peas Jiave firmed rapidly in value -i are quoted at as (id a bushel on trucks. and (!; ' 3c! '" s i ' Tho firm " due m the very short crop,"and no export i- possible at the price. The advance is possibly on Speculative account in anticipation of as*export demand sitting in. ChaiT is quoted a; AM IDs a ton, fab.. s.i.. and is w.rth £3 on trucks. Thi»"is ;l VL ' rv satisfactory improvement on the rales r.ninj: at this period jjc; jeasoti. In the sinai! -ccr:.- market cocksfoot is not making tho hsgh figures of last reek. Most merchants have bought •jseir stocks and apparently are disinclined to purchase more at the high rates ruling. In any case there is now iittlf left in farmer-' hands. Akaroa ■s quoted a; Kkl l<> lid. and Plains to IM. Ryegrass i.i'ie change, being worth 3s a bu.-ial en trucks. Cowgra"S sansp 1, nave been olTered merchants and \ v.rha. is made at lid per !b. White r!i>vcr i- im.:!'! r-'d at 7rl lo !0d per !b (Juutaliom The following are q:!<;ta'i<.its for r.c-w H-asuii's produce paid t>. farmers en trucks, free «.f rummis.-ion, sacks extra, excrpt uimre nthcrwi.-o slated: Wtie:t-N'".v se-o'>n\. interim payments, for January-Mat-di > inclusive»: Tuscan 4.=, Hunter.- -is I'd. Pearl and Velvet 4s -id: fowl v. lit at. 4s .'ill lor 'fret" prompt. ! i for Board. f.0.b.. f.t. Qsts—Algerian.- 2-. 4U a bu.-hcl: Carta*, A's 2s I'd. P/.- I's 2d. Onions— £7 ft.r prompt. Potatoes-11 as a ten Perennial Rycgra. .• a bu-hel. Italian Ryegra. ;■ bushel. White Clove' - --/d to bid per lb. Cock-foot— 1 Ori it, lid per lb for /karea. lOd lor Plains. Red Clover--10'.d to 11 Ad per lb. Fto— £lli 12c a tun. local; il 11 17s fc-JTiag. Btiß-Lsrgc. letg.l. i'.'i: shipping. Jl4 l toa; small, kcul. £4 10s. PcHad-L&rgt, local, iJG; shipping, Li k DI'MODIN '?■ t a ■ ■■. iATi■ N 1; •;. J UL'NKDIN, March fi. So fas 1 ."I-. iins district is concerned, tee will not be nearly the same Quantity of milling wheat available in previous years. Even on heavy fend, such as the Taieri, yields are •inch lower than were anticipated, j "fte berries in the wheat grown in the Otago district are well filled, and in excellent condition. A great JMrartion of northern wheat is thin, j «®j in other years a large quantity of it would not have been accepted for Oiling. Values of fowd wheat have declined to 4s 2d f.0.b., sacks extra, wally there is not much fowd wheat available, as practically all lines com-: •n" on the market are being accepted; millini" purposes. Values may be &ven as round about 4s !)d. ex store. Ttiere is a continual scarcity of oats ; on offer f rom growers, and few lines i cr e beinu purchased by millers or Merchants. Yields are light, anil ■anners are retaining most of their for their own u-o. In addition, farmers have to boy oats, as ■Gey nave not sufficient for teed for Stock. There is little demand for ™pnsent lo '.he Norlli Island. and rp f ri order is being refiveo. Tne present quotation for A '-■artons is 3s Id. f.0.b., s.i., with B's ' „ n? t al 2s 9ci. These prices are St nt t0 - s 8(1 • extra, on country sidings, and 2s 4d rewtsvely. for lines on short railage, vith . mar ket remains steady. P "applies being mostly drawn from a?j er su r - v ' The valuL ' of bcst q 11 " 1 - "JLr *- 0 a ton, sacks extra, ex truck. Int. 3 price obtainable for, v 3 t,', fx stc i re - It is apparent that chaff will rule on the high side for !n sympathy with the the oats crop, and as a h,^lf ence °f some farmers requirltlL ' y *' " nnvn for l ' ie ' r interest is being displayed in „ Potato market, the tendency on 6»vJr mei 'ch;mts being to wait sikoH enis " ' IS , '' le l ,; ices now being In tw are COns 'dered bv them too high, beipo me antime the local market is ?wl SUp '® ec ' v, 'ith stt.iieient eonsignsL.t* ? n£ '. a;; trade is tm a hand-to- . nvlv - l: l' lo fi :l 1tJ!1 - heSfiL 01 ' lo ' c ! a .v. Mr.st growers are 'if anfi - 0r prices, in view of th» Hrl, shortage consequent on Tho , weat her cotidilions. limo K !nurkf ' ,s " :,rf nfAV r iuiet. rv»o . ss hemg transacted. extent fPo« ss L T op has h( - e " to a lat'Se' t# 3. Jl -P o sed of at price;-, ruling up lines k' J ' ° n u ' Ui; - <s lGr " oocI ' rr ' ai 'l :i -' t remains steady, &on 1 seccJ diioled at Is 4d per Hie firrt r C,lris tfhurch. PeariT!# <J of f, owgrass are ap- % er| heim districts, and v »Us y ea^s 12 1101 as ge'od as in pre- «««. ,!i Scue market it siagnant. Mertea<tnn°r . purch hot s earlier in 'Nf ire J,li no%v ,il! - market, as ® r ®riea, una hle to obtain orders from Ft ' scii e st>ed is still on! w but merchants are 1 10 b,iV «"<•>' L ' U!l | ASHBL'It TON M \KKi;r A. • if ;i r!»»• t iIUS oJftyjj , f Milling wheat a,?,, will t' n 'l t»ir— hiji- c'»uun»iiic<!S. 2fW? r . i or i, but S*? 3 ' whL°, r " T1: - rt -' a ke, ' n fcii Cf»d« r t stCo!ll 's aiiti uinU'r-grude til, • ton oats tinned in e n ls a l'=o f gfiuj demand for tofc** ll» • * UIJ . a f " r uiiiuiiin sowing. It»r rel:,i! 'i- OKi 11.1 for WestE>« Urctl.i M '"'" rlovi-r arc nnijuircd ,g h j? s i-citiincnrcd. uS* fcltowin„ ar '' ® r, ».at ri rent rates. H!f* trt,li. are rri.'-s, to lie lo • " • country nations, taeks ifc,' 1

FRUIT MARKET CHRISTCHURCH Ihe report for the week ending March 8 is as follows: Vegetables Fair supplies of vegetables, with the exception of cabbages and cauliflowers, have been available throughout the week, and ruling prices are as follows: Cabbages: Supplies very scarce, best quality realising from 5s to 7s a dozen, others 3s to ss. Cauliflowers: Supplies very scarce, best quality realising 5s to 8s 3d a dozen, inferior 2s to ss. Celery: Plentiful supplies available, best quality realising 2s to 3s a dozen, others Is to 2s. Lettpces: Best quality Is 6d to 2s 4d a dozen, others 6d to Is a dozen. Cucumbers: Plentiful supplies available, realising Cd to <Jd a box. Green peas: Is 3d to 3s a peck, according to quality. Onions: Supplies plentiful, realising 4s (id, 4s Sd, and 5s a sugar-bag, according' to quality. Beans: Id to 2d per lb. Potatoes: In over-supply, realising v.d to ;jd per lb. Ca ots: Is 6d to 2s" a sugar-bag, according to quality. Marrows: Supplies plentiful, best quality realising from 3s to 4s a dozen, others Is to 3s. Pumpkins: Plentiful supplies available, realising £d to Id per lb. Garlic: 3d ) 4d per lb. Swedes: Local, Is 6d to 2s a sugar-bag. Parsnips: 2s 2s 6d a sugar-bag. Root varieties: (id to Is a dozen. Spinach: Is 9d to 2s 7d a dozen, according to quality. Fruit—Apples: Good supplies available, and ruling values are as fol-lows:-—Cox's Orange: Extra choice up to 8s a case, others 4s to (is. Worcester Pearmams: Best quality up to 5s fid a case. Jonathans: 5s a case. Cooking apples: Lord Wolsleys 5s to 5s 6d a case, other varieties 4s to 4s 6d a case. Tomatoes: Plentiful supplies available, choice lines realising from 2s to I2s 8d a case, others 9d to Is Gd. Peaches: Choice lines 2id to per jib, others Ud to 2d. Nectarines": Best quality realising up to 6s a case. Plums: Is 6d to 3s a case, according .to quality. Strawberries: Extra choice Is 4d to Is lid a punnett, others !)d j lo Is 3d. Grapes: Extra choice Is lo Is 5d per lb, others od to 10! d. Pears: i' fi 1 to 3s 6d a half-case. Imported Fruit—Supplies of Jamaican oranges and Californian lemons are available, and are realising: Oranges 25s to 32s Cd a case, according lo counts; Ittr ->ns, 45s a ease. i DUNEDIN | r.A.-,.t» I.VIK'j: ! 1.1'.t,!' AM .) , DUNEDIN, March 8. Ihe tea! lire ot the week has been , tnc low prices of plums and peaches, i Iletai 1 ers arc only buying from hand j hi mouth on account of the poor keeping qualities of fruit. Sound dessert pears have a good enquiry, and the market could do with further supplies. A few lots of crated nectarines are still arriving from Central Outgo. Central Otago grown Cox's Orange Pippins have a-good enquiry. Nelson j grown are slow of sale, as some of j the lines are affected with bitter pit. ■ Greengages are about finished for 1 the season. Fair supplies of grapes j are reaching the market. Lemons are | 111 short supply. There are no Cali- ! fornian .grown on the local market in | Ihe meantime. A shipment of Cali- , lornian navel oranges arrived during j the week. These are meeting with a 1 la:r demand. Supplies of tomatoes ' luive eased oIT and prices are slightly ; firmer. AUCKLAND DELICIOUS AITLLS riiOlllBlTION OF EXI'OUT ; [THE PRESS Special Service.) t AUCKLAND, March 8. Fruit growers at Henderson and Huapai are much concerned about the receipt of a circular from the secretary of the New Zealand Fruit Export Control Board, advising them | that owing to the incidence of llv.- j codiin moth. Auckland Delicious j apples would not be accepted ior \ export. The circular states that information had been received that ; Auckland Delicious apples were extensively all'ected with the moth. ; After the receipt of this informa- I tion, the Director of Horticulture ilVir J. A. Campbell) paid a special visit to Auckland fruit growing districts to investigate the position, and lie later reported to the board that the ravages of the moth were most severe, and covered a wide area. The board stated that should any grower be el the opinion that his particular crop was clear of the moth, and lhat ne | was consequently suffering undue hardship, he had a right to appeal to the orchard instructor for a special examination, which would be arranged on the grower's agreeing to pay the cost of the inspection. j Concluding its statement, ihe ooarcl said it was realised that the ban on export of Auckland Delicious apples would be a heavy loss to Auckland fruit growers, so that any concession that could be made to meet the position, and at the same time safeguaid or not unduly jeopardise the attaching to New Zealand export fruit standarcls, would receive the sympathetic consideration of the Department of Agriculture and the board. PRICE OF GOLD | ! lIR ITI.SII OFFICIAL WIRELESS-) RUGBY, March 7. Gold, a fine ounce, is quoted:— £ s. d. March 7 7 8 10 March 6 ..794 March 5 ..77 10£ March 4 .. 7 810 March 2..76 10a February 28 ..741 February 27 ..73 11i February 2(J .. 7 3 tV, I'KICK OF SILVER LONDON, March 7. Silver 1 pence an ounce) is quoted:— Mar. 5. Mar. 7. Spot .. 2G 11-16 271 Forward .. 2f>? 27 g

BRADFORD TOPS MARKET LONDON. Mar ch 7. Bradford business is very quiet. Quotations are as follows: — Feb. 7. Feb. 21. Feb. 28. Mar. 7. d. d. d. d. 70's .. 2G 26>i 26i 26J 64's .. 24J 24 £• 24 234 60's .. 23 J 22" 22 22 56's .. 18". 18 m 171 50's .. 14A 14 13J 134 46's .. m 10 10i ioi 40's 9i 9i 9i n

0TH15K QUOTATIONS N.Z. Government Debentures Buyers. Scl'cis. £ H d. £ 8. (1. gj )>.c. In.".. 1011-13. 1038-52, .1930-52, and 1939-13 - 107 11) 0 3} p.c. Ilia., 1SH1 102 c 0 — 0 4 p.c. Inn., 1037-10 .. 1 < 7 (> 102 15 4 p.c. Ins., 1!).. 105 15 II inf10 0 4 p.c. [lis. 1952-55 •• 11'' 10 II ill 0 0 4 p.c. Bonds, 1937-10 .. 102 .1-2 <; 102 15 0 4 p.c. Bonds, 1913-10 .. 10! u 0 — 4 p.c. Bonds, 19-16-19 .. 11>7 1.) ii 4 p.c. Bonds, 1952-55 . . HI 2 t; Other Debentures Makerua Drainage, 4.', 10 p.c., J/H/46 & 1/»•'•> 1 — 1 < If 1 0 Chcli. Drainage. 4\ p.c., 30t;/i-i .. •• 105 0 0 li>7 " 0 Insurance A.P. A. I 10 i; Mercantile Mutual .. 1 0 Loan and Agency Mutual Benefit U 5 0 iO 5 (i .\ational Mortgage '"A" 2 1-2 t; ;s 1 (i National M origan "B" J 11 0 N.Z. Loan and Mercantileford stock) •18 JO (i Permanent Investment — 10 u Frozen Meat Southland .. •• 3 17 0 18 (i Woollens Kaiapoi (prcf.) .. 0 •17 l 0 17 <; Coal Stockton (ord.) -• o 1 3 0 1 (i Stockton (prcf.) .. 0 :j o 0 -1 (j Gas Timara .. 0 v: 0 1 1 fi M Timaru (contr.) 0 ii Breweries (iroivn (ex distribution 3s) 0 0 0 0 13 Timaru — 0 Timaru (7a fid paid) .. 0 8 4 Miscellaneous Associated Newspapers .. — I 2 o Amalg. Wireless (contr., cum div.) — 2 - 0 Anthony Hordern .. 0 17 5 0 17 10 A list. lion and Steel (pf.) 1 2 7 1 3 1 Broken Hill Proprietary 2 10 10 2 11 ') Claude Neon (Sydney) .. 2 5 (i 2 8 0 Claude Neon (N.Z.) .. 2 5 G 2 10 0 Consolidated Brick — 0 0 n D.I.C. (10s paid) .- 0 14 C — 6 D.l.C. (prof.) — 1 G Dominion Builders' Supp. 0 4 7 0 G 11 Eclipse Petrol — 0 2 6 Hay's, Ltd. (15s pa;d) .. 0 15 r> — Kauri Timber • • 0 10 0 0 "19 7 New Colosseum 17 9 _ N.Z. Farmers' Co-op. (1st pref.) .. 2 2 G 0 10 0 N.Z Farmers' Co-op. ("A" prcf.) . 0 18 0 1 10 0 N.Z. Farmers' Co-op. (4?; p.c. stock, 1910) 82 10 0 83 10 0 N.Z. Malay liubber 12 0 12 r> N.Z. Newspapers _ .. 1 (1 1 11 7 Quill, Morris (in liquidan 4 tion) .. n 3 11 9 Sxir. Newspapers . 0 3 10 0 4 0 Turanaki Oil 0 1 G Taupo Totara. 'L'inibei- 0 5 0 Tanpo Totara Timber 0 0 (pref.. IGs paid) — 1 Woolworths (N.Z.), ord. ■' 14 <; !l 15 6 Woolworths (N.Z.), pref. 2 0 0 10 0 Woolworths (Tie.), prcf. 1 Mining Alexander .. 7 3 0 J.s o Alexander (15s paid) .. 0 ICS 0 II 17 ;? 0 Aotearoa 0 1 Bell Hooper .. .. 0 0 1 0 0 3 1* Bell Kilgour .. 0 0 1 0 0 Bendiso Goldligbts .. 0 0 7 0 0 10 Bier River .. .. 0 2 11 0 2 8 Blackwater .. 1 12 3 - Brian Boru .. .. 0 0 -2 0 0 3 Central Shotover .. 0 0 1 0 0 5 Cliarleston 0 0 5 Consolidated .. .. 0 15 10 0 1(1 3 Beep Lead .. .. 0 1 6 0 2 o; : Euratha .- 0 0 0 7 G Gillespie's Beach .. 0 1 7 0 1 Golden Point • 0 0 03, 0 0 1 Golden Sands .. .. 0 2 2 0 2 6 Goldfields "Dredging .. 0 0 5 j 0 0 6 Kildare .. .. 0 3 2 h King Solomon .. 0 2 9~ 0 3 11 Maori Gullv .. .. 0 1 0 1 4 Lawson's Flat .. 0 0 o" 0 0 Maerewhenua .. • - 0 0 oi. 0 0 3 Mahakipawa .. .0 0 9* 11 0 Mahakipawa (pref.) (1929 issue) .. . • 0 1 2 0 1 3 Mataki .. 0 1 8 0 2 0 Mining House Con. II u 2 Moonlight Nelson Creek 0 0 2 Mossy Creek .. 0 2 4 0 2 G h Mount Lyel! .. 0 8 0 17 10 Mount Morgan .. 1 8 4 1 18 9 Mount Morgan (rights) 0 8 0 0 18 8 Nevis Diesel Electrio .. 0 0 1* 0 0 2 New Cornish Point .. 0 0 IS 0 0 5 Nokomai .. ..0 2 3 0 2 ■i Okarito .. .. 0 7 4 0 7 6 Piacer Development .. 27 15 0 Rawang Tin .. .. 0 7 2 0 7 5 Skippers .. .. 0 0 5 0 0 5] Upper Shotover (lod pa.) 0 0 1 0 0 s Waihi .. - 1 o 2 1 7 "Waitahu .. 0 2 .1 0 1 7 Worksop Extended .... 0 2 6 0 2 S

CHRISTCHURCH RATES, MARCH 8, 1935 FORMER LEVELS COMPARED Am't. paid Companies. sb'o. Buyers. I 1 j | Sellers. Approx. j market price. Approx. market price a 5'ear ago. Ui 1 '. per cent, or a'int. a sh. Div. payable. lie turn on investuent at approx. market price. Banks — Australasia Comm. of Aust. Comm. of Aust. (pref.) Com. of Sydney E., S., and A. Nat. of Aus'asia iS'ut. of Aus'asia (cont.) National of N.Z. Xew South Wales New Zen land .. Union Reserve £ IOs 10 l'-i .10 2o" 1 £ s. 11 2 0 16 9 1G 10 4 4 18 6 5 3 't 30 0 2 9 8 10 G 10 d 6 1 G 0 c 0 G 0 :s 0 0 £ s. 11 10 0 1G 9 19 16 5 5 1 G 7 3 8 30 5 2 9 8 15 6 10 d. 0 0 0 0 0 0 0 0 9 ■ £ s. 11 7 0 16 9 17 16 4 5 0 12 17 G G 3 8 30 0 2 9 8 12 0 10 d G 3 G G 0 6 0 0 0 6 £ 8. 13 2 0 17 9 5 17 12 5 14 13 5 0 10 4 4 34 0 2 8 10 5 d. G 1 0 6 6 0 0 0 0 6 0 £ 4 ,i 5 10 5 5 Feb.-Aug. Oct.-Meli. do. Jan.-July® N ov.-May Nov.-May Nov.-Mav Jan.-July Quarterly (F.. ML, A. Dec.-June Jan.-July £ 3. d. 4 3 6 3 16 4 10 3 17 0 3 0 0 3 17 8 3 19 2 2 18 9 3 6 8 N.i 4 12 2 17 11 3 16 9 insurance— National New Zealand South British .. Standard Ta I 1 1 1 1 i 1 l 10 1 1 'l 14 3 12 9 9 0 3 0 IS 2 16 3 14 3 1 9 9 6 0 9d 12;. 2/6 1*25 May-Nov. i'eb.-Aug. Apl.-Oct. Mch.-Sep. 3 8 11 3 13 9 2 16 b 3 9 2 Loan and Agency— Dalgety and C. 5 Goidsbrough, M, 1 Guarantee, Corp. 3s United Building 1 d s 1 2 i.i n :i i 0 1 6 9 "1 9 8 10 1 7 I 0 9 0 10 8 1 13 0 4 1 o 0 4 0 0 5 6 1 l-i * I May-Xov. Dec.-June Mch.-Oct. Oct.-April 2 18 9 4 6 5 5 1.1 1 4 8 10 frozen Meat — Gear N.Z. Eefrig. .. :i.Z. Refrig. (con.) Gas — Auckland Auckland (uon.i Chi istcburch ( hiistchurch (con.) Shipping — Huddart-Farker P. and 0. Oct. Union (pref.) .. Coal— Tuupiri Westport Breweries — Carlton New Zealand Staples Toohevs Tooth i Miscellaneous — Aust. Glass Heath and Co. Beath & Co. (con.) "British Tobacco Colonial Sugar Burns, Fhilp •• Dominion Fert. Dinilop Rubber i-'.lec. Zinc (ord.) F.lec. Zinc iprcf.) Henry Jones .. Kauri Timber .. N.Z. Drug Co. Mount Lyell Farm. Fertiliser Whit. & Tombs Wilson's Cement IDS 1 10s I l.JS 1. ICS 1 1 1 1 Ms 1 i i Ifia 1 1 Is I 20 1 1 l I l I 259 I J 10s 1 1 0 19 0 8 1 15 0 1 6 1 1 2 10 1 10 1 K 2 7 2 17 .1 10 0 8 1 17 41 7 ;l 1 1 2 0 13 1 1 1 15 0 1!) 0 17 0 3 11 0 8 7 :) 10 0 3 6 10 6 0 1 0 10 6 0 8 1 0 0 1 1 .1 ■2 3 1 0 1 •12 3 1 0 1 1 0 3 0 19 9 1 !0 12 8 0 12 9 18 0 13 10 19 19 17 0 « 0 (J CI 0 0 (1 1 0 0 0 0 0 7 6 10 1 1 0 19 0 9 \ 7 1 0 1 15 0 16 1 18 1 1 1 7 0 17 1. 1. 2 10 1 1 1. 1 8 2 b 2 19 1 11 0 8 1. 18 41 10 3 1 1 2 0 18 1 2 1 15 1 15 0 19 3 19 0 17 0 19 Jii G y 0 r 9 0 9 6 0 (5 0 0 G 9 0 0 0 6 0 9 G 6 9 0 0 0 1 8 0 3 7 0 8 1 5 0 18 1 9 0 13 .1 13 1 3 1 5 0 15 0 15 2 1 2 0 1 7 1 7 2 4 2 11 1 10 0 8 1 38 61 5 2 15 0 16 0 19 1 7 1. 15 1 13 0 17 3 16 1 4 0 36 3 11 1 G 0 11 1 6 9 0 9 6 6 G 0 0 0 0 0 6 3 0 G 0 3 0 0 7 9 0 0 0 r> G 9 6 0 3 74 GJ 5*J6," 6 7 ~5 >j 10 a 6>. 9i 9 8 8 G 61 10 4 H 3~ 6 10 .1 une-Oct. Feb. Feb. J uly-F.ib. J uly-Fcb. Aug.-Feb. Aug.-Feb. Sep.-Mch. May-Do?. May-Dec. Nov.-May May-Nov. Oct.-Mcli Jan.-Julv Aug.-Feb Mch.-Sep. .Vay-Nov. Dec.-J une Mch.-Sep. Mch.-Sep. March Nov.-May Nov.-May J line Apl.-Oct. Mch.-Sep. Mch.-Sep. J une-IJec. J une-Dee. Sep.-April June-Dec. August. Mch.-Oct. Nov.-J une 3 0 9 5 12 9 6 2 2 4 0 0 1 1 5 3 8 6 3 11. 7 3 13 8 4 0 8 4 13 0 2 15 3 -1 0 3 12 11 3 19 2 3 I 0 5 1 7 3 3 i 3 0 2 3 5 0 2 14 1 5 8 1 3 12 8 4 9 G 4 14 G 3 16 11 3 15 8 5 5 3 3 10 7 2 18 9 Where no market unless only one quote is given. is given, return i8 worked oi mid-market price,

! UNLISTED STOCKS All UstllaltcUollB 1" Stocks quoted 11] til IS auction aro subject to a different rate of brokerage from listed etocka and aro not quolnd on tho official list: — Buyers. Sellers. X 8. d. £ B. d. A'i~ocn: ted M otorists IYIhiI (pief.) .. 1 1 (1 10 0 Ar"o <"ld 03 0 1 ;> Lien l-<"ii •• 0 0 r 0 0 b l,aiTvlo-.vn 0 18 0 1 !! 0 I)|.minion Life (<',« pd.) — 0 3 U Jones .Nevis .. 0 0 8 •— (U<I p:w<l) ■ 0 0 a i\'.Z. IN rpotuul Forests 2 0 ■■ — Mount, iMot'sim Develop. 0 2 0 0 i> 0 I'romru. I'-reiul (vendors' slnncs) .. 0 0 <> 0 13 0 1 lit Tlmat.ro Bids. "Vknslcliurcli) .. » -1 ><> « ' " - - V 2 1 ° I u Stacrv "'"'1 Hawkor 1 B 0 1 10 0 Upper Wat.lit. (2s paid) 0 a 10 0 6 0 Tin-Color '''iltn - ( I;!s „ r paid, pre!-; Warner's, 1.muted ' Were's InvrBt. Trust .. « 4 J 0 £ <1 Wdohvort.lis lSyd.)» oru. 4 11 10 4 1- ; New Kiver (lid paid) .. 0 0., 0 > N.Z. Miiuncr Investment - nun AUCKLAND ! Sales on 'Change £ s. d. Bunk of Australasia .. 11 0 Com. Bank of Aust.. .. 0 16 S E„ S.. and A. Bank . ■ » 0 0 Nail. Bank of A'sia. •• 12 18 " Bank of N.S.W. • • f> Bank of New Zealand .. 2 9 4 Bank oC N.Z. <D morl.) 1 12 li Reserve Bank • • {> 10 N.Z. Insurance •• t ' i N.Z. Guar. Corp. •• C 0 Auckland Gas (con.) £ Taupo Totara Timber (pf.) 12 b British Tobacco 1 1« " Consolidated Brick .. 0 J •* Dominion Fertiliser .. 1 2 * Northern Roller Mills (ord.) 1 13 U Northern Roller Mills (pf.) 16 0 Wilson's Cement • • 1 14 0 Waihi ,2) 2 1 o Unlisted Stock Woolworths (Sydney) .. 4 11 9 WELLINGTON Sales on 'Change £ s. d. 4 p.c. Ins. Stock, 1940 .. 102 10 0 4 p.c. Ins. Stock, 1955 .. Ill 2 6 Comm. Bank of Aust. .. 0 16 4i Comm. Bank of Sydney .. 16 5 0 Bank of New Zealand (2) 2 9 3 N.Z. Guarantee Corpn. .. 0 6 0 N.Z. Insurance (late Thurs.) 3 7 9 South British Insurance .. 4 14 0 N.Z. Refrig. (10s paid) .. 0 9 0 Westport Coal .. 113 Taupo Timber (pref., paid) 12 6 British Tobacco .. 1 18 0 Colonial Sugar .. 41 5 0 41 7 6 41 5 0 41 15 0 Gillespie's Beach .. 0 17 Unlisted Stock Woolworths, Ltd. (ord.) .. 4 12 0 Woolworths (late Thurs.) .. 4 116 4 11 10

FOREIGN EXCHANGES (BRITISH OFFICIAL WIBELSSS.) RUGBY, March 7. Tar. Alar. 6. Mar. 7. l'aris, fr. in XI 124.2 1 71 11-32 711-16 New York, dol. to £1 4.866 4.77J 7.74g Montreal, dol. to £1 1.866 4.S4;] 4.81 Brussels, belgas to £1 35 20.174 20.07 Geneva, fr. to £1 25.22 J 5 14.50 14.45 Amsterdam, fl. to £1 12.107 6.94J 6.9-4 Milan, lire to £1 93.47 56 J 56 3-16 Berlin, reichmarken to £1 .. 20.13 11.68i 11.64 Stockholm, kr. to £1 18.159 19.39i 19.39J Copenhagen, kr. to £1 18.159 23.394 23.39J Oslo, kr. to £1 18.159 19.90$ — Vienna, schgs. to £1 34.585 2 5a 25J Prague, kr. to £1 164.25 112J 112i Helsingfors, marks to £1 . . 193.23 2264 226J Madrid, pesetas to £1 25.2215 34 7-10 31 9-32 Lisbon, escudos to £1 110 110} 110i Athens, drach to £1 875 493 490 Bucharest, lei to £1 818.6 465 465 Belgrade. dinaps 25.2215 20.7 20.7 Rio de Janeiro, pence to milreis . . 4.892 i i 1 \ Buenos Aires. pence to dol. 57 30 J 30-J Montevideo. pence to dol. 57 41 J 41$ Bombay, pence to rupee 19 1S£ 1SJ Shanghai, pence to dol. * 19 3 95 Hong Kong pence to dol. 1 2C.J 23 15-1G Yokohama, pence to yen ' — 3 4 Batavia. guilders 12.107 6.86J 6.88A Warsaw, par zlotys to £1 43.36 — 2-1.75 "Determined by price of silver. FOREIGN EXCHANGE RATES The Bank of New South Wales, (Jhristchuroh, quoted the following rates as ruling yesterday for its purchases and sales of foreign exchange. All rates are subject to alteration without notice: — London— Buying. Selling. £N.Z. to £ stg. 100 T.T. 124 124J O.D. 12iii 124g Australia— £A to £N.Z. 100 .. T.T. 101 1O0A O.D. 101 100J Fiji— £F to £N.Z. 100 .. T.T. 90s S9 90J 89 New York— Dollars to £1 N Z. T.T. 3.S0J O.D. 3.86J 3.80g Montreal— Dollar to £1 JC.Z. T.T. 3.802 3.M? O.D. 3.902 3.85i France— Dollars to £1 N.Z. T.T. 57.66 56.36 O.D. 57.96 56.41 NoumeaFrancs to £1 N.Z. T.T. 58.61 55.61 O.D. 59.01 55.66 PapeeteFrancs to £1 N.Z. T.T. 58.61 55.61 O.D. 59.01 55.66 Belgium— Belgas to £1 N.Z. T.T. 16.195 15.795 O.D. 1G.595 15.810 Germany— Reich marks to £1 N.Z. .. T.T. ~ 9.143 O.D. — 9.118 Ita ly— Lire tn £1 N.Z. .. T.T. — 14.52 O.D. — 44.56 Switzerland— Francs to £1 N.Z. T.T. 11.822 11.122 O.D. 11.897 11.432 Holland— Florins to £1 N.Z. T.T. 5.436 O.D. 5.73G 5.440 Java— Florins to £1 N.Z. T.T. 5.649 5.124 O.D. 5.699 5.428 J apan— N.Z. pence to 1 yen T.T. — 17 13-1G O.D. - _ Shanghai— N.Z. pence to 1 dol. T.T. '23 11-16 2-2 11-16 O.D. 23 9-16 24 15-16 India and Ceylon— N.Z. ponce to 1 dol. T.T. 22 11-32 22 11-16 O.D. 22 7-32 2-2 11-16 Hong Kong— N.Z. pence to 1 dol. T.T. 30 3-32 315-32 O.D. 29 31-32 31 3-32 Singapore— N.Z. pence to 1 dol. T.T. 31 11-32 35 9-32 O.D. 31 7-32 35 7-32 DOLLAR-STERLING KATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates yesterday. which are subject to alteration without notice: — U.S.A. Canada. dol. dol. Conversion of dollar bills received for collection and sale of dollar drafts and telegraphic transfers .. .. 4.73 4.79 Purchase of dollar bills 4.77 4.83 On a New Zealand currency basis these rates are equivalent to: Selling— U.S.A. Canada. dol. dol. T.T. .. ... 3.793 3.84S On demand .. ... 3.801 3.85J Buying— On demand .. .. 3.86J 3.91j METALS MARKET (UNITED PRESS ASSOCIATION —BV ELECTRIC TELEGRAPH— COPYRIGHT.) LONDON, March 7. March 6. March 7. £ s. d. £ s. d. Copper— Standard, spot 28 0 0 28 9 4A Forward . . 28 6 10& 28 6 10i Electrolytic . . 31 5 0 33 0 0 to . . 31 12 6 31 10 0 Wire bars . . 31 12 6 31 10 0 American electrolytic: 9 cents per lb. Lead— Spot u . 10 6 3 10 7 6 Forward .. 10 12 6 11 12 6 Spelter— Spot .. 11 10 0 11 10 0 Forward .. 11 16 3 11 15 0 Tin— Spot .. 215 10 0 216 2 6 Forward ..212 5 0 213 2 6 Silver— Fine, per oz. .. 26 13-ltjd 27id Standard, per oz, 28 5-16d 29 7-16d

GOVERNMENT SECURITIES (UNITED I'RBSS ASSOCIATION— —BT ELKCTBIO TELBGRAPU —COl'TKIGHT.) I.O.NDON, Alai rll 7> The a rc tho Jutobt quotalioriB i'jr Government securities, compared with the prices ruling last n uek J.ast Week. This "Week. XJrilitli — £ s. d. £ 8. d. (.'Ollhulft . . 8o J 7 (i 6-1 10 0* Funding Loan 1 l'-'.'. 1J 8 1 0 0 117 0 0 War J.oan, :;i p.c. 100 J 5 u 105 10 0 Can. loan, :ii p.c. 107 10 0 1U5 15 u Victory iionds, 4 111 17 o 1M 0 0 Common weal tli — 5 p.c., J!l'l;>-75 . . .114 5 0 110 0 5 lJ.c., 1925-45 . . 102 2 0 102 0 0 ■1 p.c., 19-12-18 .. 105 5 u 10o 17 (> 23 p.c., 3 !J-18-5:! 102 15 0 101 10 0 2i p.c., 1 Li:jG-::7 102 0 0 102 12 0 New South Wales — 2 p.c., 1925 J 02 0 0 100 ]0 0* i>.c„ i'j:i0-50 99 17 (i 99 5 0 •4i p.c., l!Hi5-4i> Id I 5 u 101 7 0 5 p.c., 19U3-35 . . 102 12 G 101 0 0'Victoria — .'i .. 98 7 6 07 J'J (j ■1J ]>.c., 1 U-UO 105 2 0 1 0*1 1-J 0 5 [I.e., 1945-75.. 110 7 6 110 7 G Queeuslaud — p.c., 1922-17.. 98 10 0 98 10 0 5 p.c., J 940-00.. 108 7 G 105 5 0* South Australia— 3 p.c.. 1916 or after 90 5 0 90 5 0 5 P.c., 19 15-75 . . 1 JO 10 0 109 10 9 Western A tie tin I i a— 2 p.c., 1915-25.. 10 1 0 0 101 0 0 4 p.c., 1912-02 . . io:i O 9 102 7 G Tasmania— p.c., 1920-4.0 101. 12 0 101 .10 0 4 p.c., 1940-50 . . 102 2 6 102 15 0 New Zealand — ■li p.c., 1948-58 .109 15 0 108 32 fi ::i p.o., 1940 102 rj (i 10* JO 0 i».c„ J 945 101 12 C 300 5 0* i; p.c., 192051 .. 105 17 G 105 15 0 Shaves — Mount Lyell II i;{ 0 0 11 0 New tiuini'ii 0 4 11 0 -1 m "Ex interest.