THE STOCK EXCHANGES

Press, Volume LXXIV, Issue 22507, 15 September 1938, Page 13

THE STOCK EXCHANGES

AMERICAN MARKET FALLS SHARPLY BUSINESS AT STANDSTILL IN LONDON The Sudeten ultimatum caused the New York stock market to crash with a severity recalling that of the crash in 1929. Selling was frenzied and prices fell by as much as 10 dollars a share. The number of shares sold totalled 1,700,000, of which 1,000,000 were sold in the last hour. The demand for Central European bonds vanished.

Except in gilt-edgeds, which have weakened, business is reported to be at a standstill in the London markets. The Paris Bourse wavered badly, and in Berlin business was restricted and prices fell two points.

The gravity of the European situation had little apparent effect on the Sydney Stock Exchange yesterday. The volume of trading was the largest for 10 days, and there was only slight weakness in some stocks. The Melbourne market, however, reacted to the news from overseas and the fall in New York, leading industrials being marked down. Bonds remained steady. •

The local market was again dull, with dealings confined to a few stocks. Prices were weaker.

DEALINGS COMPLETED

Sales Reported £2OO N.Z. Govt. 4 per cent. Inscr., 1946 .. 100 2 6 £IOO N.Z. Farmers’ Co-op. 4i per cent, stock, 2/'3 49 (late sale Wednesday) .. 83 10 0 Government and Insurance New Zealand Government 4 per cent, stock due 1940 changed hands at £ 100 2s 6d. Unsupported sellers of National Insurance reduced their limits to 16s 7d. Goldsbrough. Morts were weaker with business at 26s 9d, and further sellers at 26s lOd. New Zealand Breweries were easier with sellers at 39s lid. Timaru Brewery (in liquidation) changed hands at lOd and more were wanted at that price. Miscellaneous Sellers of British Tobacco came down to 465. Broken Hill Proprietary dropped to 555, market closing 54s 9d buyers, 55s Id sellers. The contributing were available at 37s 3d. Electrolytic Zinc preference fell to 44s 3d and 44s Id, and there were further sellers at the higher figure, buyers at 43s 9d. Sellers of the ordinary came down to 40s 6d, buyers at 39s 9d. G. J. Coles fell to 775, sellers staying in at that price, buyers at 76s lid. A late sale of New Zealand Farmers’ Co-operative 4J per cent, stock due March 2, 1949. on Tuesday, was reported at £BB 10s. Taranaki Oilfields had dealings at 12s 8d and 12s 4d. and more were offered at the lower price. Woolworths, Ltd., cum dividend, declined to 20s 3d. 20s, and 19s lid, and there were further sellers at the lowest price, buyers at 19s 9d. Mining Glenroy Gold remained unaltered with buyers and business at Id. Broken Hill South were easier with dealings at 30s 2d and 30s Id, market closing 29s 3d buyers, 29s 6d sellers. Mount Lyells dropped to 26s 3d, 26s 4d and 26s sd, closing quotations 26s 4d buyers, 26s 5d sellers. Mount Morgans were weaker with dealings at 11s and 10s 9d, and further sellers at the lower figure. North Broken Hill on the morning call changed hands at 45s 2d and 455, but sellers on the afternoon call offered at 43s lid, buyers at 43s 7d. Rawang Tin were fractionally weaker with business at 8s Id. LATEST QUOTATIONS

ASSOCIATED BANKS’ DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice:— U.S.A. Canada. Per £1 N.Z. dol. dol. Selling— - T T .. •. 3.84 3.86 5-16 OD .. .. 3.841 3.86 9-16 Buy ££“ .. .. 3.87 15-16 3.901 O.D. .. .. 3 881 3.91 J WAR LOAN QUOTATION DROPS SHARPLY ONE OF LONDON MARKET POINTERS (BRITISH OFFICIAL WIRELESS.) RUGBY, September 13. The 3J per cent. War Loan, which is one of the London market pointers, dropped from. £lOl 5s to £IOO. GOLD AND SILVER PRICES LONDON, September 13. Gold to the value of £601,000 was sold at £7 4s 7d a fine ounce, a decrease of Jd. Silver is quoted at 19 9*l6d an ounce spot, and 19gd forward. BRITISH EXCHEQUER RETURNS (BRITISH OFFICIAL WIRBLRSB.) RUGBY, September 13. British Exchequer returns show that total ordinary revenue amounts to £275,332,403, against £277,480,323 a year ago. Total expenditure, less self-balanc-ing items, is £419,852,623 against £364,604.495. HIGHER RECEIPTS FROM SALES TAX UNUSUAL INCREASE IN JULY TOTAL Receipts from sales tax in New Zealand in July amounted to £295,664, an increase of £9926 compared with the total for June. Receipts in July normally show a decrease compared with the June figures. Commenting on the position, the Abstract of Statistics says the July total is £22,577 greater than that for May, this increase being even more remarkable than that over the June figures. The aggregate sales tax receipts for the first seven months of this year, £1,972,583, are slightly , higher than for the corresponding period of 1937. AUSTRALIAN SALES TAX RIW OP ONE PER CENT. EXPECTED Reports from Canberra indicate that the increase in the sales tax which the Federal Ministry is likely to announce in the Commonwealth Budget probably will be 1 per cent. This will mean that the rate will be 5 instead of 4 per cent, and that the yield from the tax will be increased by nearly 25 per cent, from £8,000,000 to £10,000,000,

TRUSSES TO FIT YOU. Ensure perfect truss fit by securing your requirements from E. Cameron Smith, Ltd., Chemists, Cathedral square. Comfortable trusses with new non-slip pads. E. Cameron Smith, Ltd... are recognised truss specialists. They carry a wide selection of all classes of trusses, not just one type.

LONDON METALS MARKET

TALLOW, HEMP, AND EGGS HIGH COMMISSIONER’S REPORT The Department o£ Agriculture baa received the following cablegram from the High Commissioner for New Zealand, dated September 12, 1938: Tallow—Spot market quiet, quotations unchanged. Hemp—Manila: Market slow; steady at origin, owing to Japan buying. “K. grade offered September-November shipments £2O. which is above buyers’ ideas. Si' il: Market dull anil easier. ship-. ments sold £ls 15s. New Zealand; Market continues dull; nominal value on the basis of common £l6. Eggs—Market quiet: English national pack 16s 6d, 225; English ordinary pack. 19s 6d, 20s; Danish *lB x 23>. 13s, 14s 6d. BEST MONTH SINCE 1915 WEST AUSTRALIAN OUTPUT OF GOLD The gold yield in Western Australia in Autpist was 100,050 ounces, valued at £886,274, Australian currency, the highest monthly total since August. 1915, when it was 101.021 ounces. The yield last month was 3863 ounces above July and 11,945 ounces more titan in August last year. Tw eight months’ output was 745.T33 ounces, an increase of 106,249 ounces compared with the corresponding period of 1937. Increased production on the east Coolgardie goldfield by the Great Boulder and Lake View and Star companies was responsible for the improvement. STOCK SALE STORTFORD LODGE (PRESS ASSOCIATION TELEGRAM.) HASTINGS. September 14. There was a heavy yarding of cattle at the Stortford Lodge sale, comprising 30# fats and 620 store cattle. Good quality- fat cattle were in keen demand, with poorer sorts attracting little attention. Some extra prime bullocks realised from £l3 up to £lB 7s 6d. These bullocks would raaga from 9001 b up to 10001 b. Some quality cow and heifer beef was also brought forward. Prices for cows in good prim* order ranged from £7 13s up to £l2 13s. Heifers realised from £7 to £ll ITs W, The first of the season's big draft of star* cattle was offered. Buyers were mostly interested in steer lines. Good Polled Angus and Polled Angus cross young steers wera realising £9 18s 6d. others ranging from £3 17s. Cows made up to £4 13*. Little interest was taken by buyers in the store sheep pens. Values showed a falling tendency. Ewes with lambs at foot sold at 12s to 14s 3d. all countedHoggets and wethers met a slow market, wethers selling up to 245. wether hogset* up to £l. and ewe hoggets up to 2Ts »d Fat sheep sold at late rates.

LISTED STOCKS Sales on 'Change £ s. d. 100 Goldsbrough, Mort 1 6 9 100 Timaru Brewery (in liquidation) 0 0 10 50 Broken Hill Propty. 2 15 0 250 Electro. Zinc (pref.) (3) 2 4 3 2 4 1 50 G. J. Coles 3 17 0 200 Taranaki Oilfields .. 0 12 8 0 12 4 300 Woolworths (Sydney) (ord., cum div.) 1 0 3 1 0 0 0 19 11 500 Glenroy Gold 0 0 1 200 Broken Hill South (cum div.) 1 10 2 (2) 1 10 1 500 Mount Lyell 1 6 3 (2) 1 6 4 1 6 5 1 6 4 300 Mount Morgan (2) 0 11 0 0 10 9 100 North Broken Hill 2 5 2 2 5 0 50 Rawang Tin 0 8 1

N.Z. Govt. Debentures Buyers. Sellers. 4 £ s. d. £ s. d. 3 p.c. Ins., 1941 — 98 0 0 3J p.c. Ins., 19 38-52 .. — 101 0 0 31 p.c. Ins., 1939-52 — 100 10 0 31 p.c. Ins., 1953-57 94 0 0 94 17 6 31 p.c. Bonds, 1953-57 .. 94 10 0 — 4 p.c. Ins., 1943-46 100 0 0 100 5 0 4 p.c. Ins., 1946-49 100 17 6 — 4 p.c. Ins., 1952-55 — 101 0 0 i p.c. Bonds, 1946 100 2 6 — 4 p.c. Bonds. 1949 101 5 0 — Other Debentures Gisborne Sheep., 61 p.c.. 31/B/4! .. 101 0 0 Dominion Fertiliser,, 71 p.c.. 1/2/41 102 0 0 — ' Banks Australasia (cum div., £5) 10 7 6 10 14 6 Comm, of Aust. (10s) 0 15 8 0 15 11 Comm, of Aust. (pf., £10) 9 5 0 — Comm, of Sydney (£12 10s paid) — 20 0 0 E., S., and A. (£3 pd.) S 1 3 5 3 6 Natl, of N.Z. (£2 10s paid) 2 12 0 2 13 3 N.S.W. (£20) — 30 z 6 New Zealand (£1) 2 1 0 2 2 0 Union ... 8 6 0 8 9 0 Insurance National (7s paid) — 0 16 7 New Zealand (£1) — 2 15 9 Standard (£1 paid) .. — 2 15 0 Loan and Agency Dalgety and Co. (£5 paid) 7 15 0 8 2 0 Goldsbrough, Mort (£1) 1 6 7 1 6 10 N.Z. Guar. Corpn. (3s) — 0 4 4 United Build. (cum div., £1) — 1 0 9 Shipping Union (pref., £1) — 1 6 9 Frozen Meat Cantby. (£7 10s paid) — 9 12 0 N.Z. Refrig. (£1 paid) — 0 18 0 Southland (£1) 1 10 3 1 11 6 Woollens Felt and Textiles (El) —’ 1 12 9 Kaiapoi (cum div., pf., 17s) —— 0 16 0 Manawatu (£1) — 1 11 0 Coal Grey Valley (£1) — 0 14 0 Westport-Stockton (10s) — 0 4 6 Westport-Stockton (pf., 10s) —•’ 0 7 3 Gas Auckland (£1) — 1 0 4 Christchurch (£1) — 1 7 8 Breweries Crown (in liqdn.) 0 1 0 — Dominion (£1) 1 10 0 — New Zealand (£1) 1 19 6 1 J 11 Swan (5s) .. 1 6 6 1 8 0 Timaru (in liqdn.) 0 0 10 0 0 11 Tooths (£1) .. — 2 13 8 Miscellaneous Alloy Steel (N.Z.). (£1) 1 0 0 — Andersons (1st pref., £1) — 0 19 0

Buyers. Sellers. £ s. d. £ s. d Anthony Hordern (£1) — 0 16 6 Aust. Glass (£1) — 4 12 6 Berlei (N.Z.) (£1) 3 5 0 3 10 0 Booth, Macdonald (pf., £11 —- 0 2 3 British Tobacco (£1) .. — 2 6 0 Broken Hill Pty. (£1) 2 14 9 2 15 1 Broken Hill Pty. (con., 10s paid) 1 17 0 1 17 3 Colonial Sugar (£20) .. 47 5 0 47 17 6 Consolid. Brick (£1) .. — 0 7 9 Dominion Fert. (£1) .. 1 3 6 1 4 3 Donaghy Rope (£1) 2 2 9 — Dunlop Rubber (cum div., £1) 1 0 3 1 0 9 Electro. Zinc (ord.. £1) 1 19 9 2 0 6 Electro. Zinc (pref.. £1) 2 3 9 2 4 • 3 Evans Atlas Flour (10s) 0 19 3 — G. J. Coles (£1) 3 16 11 3 17 0 Gordon & Gotch (£1) — 2 14 6 Hay's, .Ltd. (con., 15s paid) — 0 18 0 Hume Pipe (Aust.), (£1) — 0 19 11 X.C.I. (Aust. and N.Z.) (pref., £1) .. 1 1 3 1 1 6 Mangrqvite — 0 18 G Millaquin Sugar 1 14 0 * Morris, Hedslrom (£1) 1 5 0 4 McKenzies (£1) — 3 4 0 N.Z. Drug (cum div., £2) — 3 10 6 N.Z. Farmers' Co-op. (£2 10s paid) — 0 12 0 N.Z. Farmers' Co-op. (1st pref., cum div.. £5) 3 7 6 —* N.Z. Farmers’ Co-op. (A pref,, cum div.. £4) 1 15 0 — N.Z Farmers’ Co-op. <44 p.c. Stock. 7/5/49. £100) — 92 0 0 N.Z. Farmers' Co-op. (4} p.c. Stock, 1950, , £100) 89 0 0 N.Z. Farmers' Co-op. (4J p.c. Stock, 1955, £100) .. •• 89 0 0 — N.Z Farmers Fert. (£1) 0 16 6 0 19 0 N.Z. Newspapers (16/8) 1 13 3 — South Island' Finance Corpn. (10s paid) — 0 9 0 Taranaki Oil. (24/7) paid) 0 12 2 0 12 4 Wilcox, Mofflin (11s) .. — 0 6 Wilson's Cement (10s) 0 16 0 0 17 0 Wool worths (Sydney), (ord„ cum div.. 5s) 0 19 9 0 19 11 Wool worths (Victoria) pref., £1) •• — 1 xo Woolworths (N.Z.) (ord.. 5s) — 0 19 0 Woolworths (N.Z.) (pref., £1) .. — Overseas Listing Woolworths (S.A.) (5s) — 0 15 3 Milling Addison’s Flat (Is) .. 0 1 1 Alexander (£1) 0 7 0 0 15 0 Alexander (15s paid) 0 6 6 0 12 6 Argo (cum div., Is) .. 0 1 10 Argo (con., cum div.. Is) 0 1 4i 0 1 74 Barrytown (£1) 1 6 0 Big River (Is) 0 1 04 0 I 3 Clutha River (2s) 0 1 7 i 0 2 3 Gillespie's Beach (Is) 0 1 04 0 X 2 Golden Point (6d) .. 0 0 Golden Sands (Is) .. 0 1 6 Goldfields Dredg. (Is) — 0 0 3 Grey River (10s) 0 14 0 — Glenroy (Is) 0 0 1 — Maori- Gully (Is) Moonlight Gold (8d) — 0 0 Mossy Creek (Is) .. 0 1 New Hiver (Is) 0 0 64 0 0 7i Skippers (Is) 0 0 1 Skippers (pref., Is) .. — 0 0 Waihl Grand Junetion (2s) 0 2 9 0 3 9 Waihl Invest. (5s) .. 0 8 5 — Worksop Extend. (Is) 0 0 10 0 1 X Australian Mining Broken Hill Sth. (5s) 1 9 3 1 9 6 Mount Lyell (£1) 1 6 4 1 6 0 Mount Morgan (2s 6d) 0 10 8i 0 10 9 Mount Morgan (pref., £1) Nth. Broken Hill (5s) 2 3 7 X I 0 2 3 XX Rawang Tin (10s) .. 0 8 0 0 8 04 UNLISTED STOCKS All transactions in stocks quoted in this section are subject to special brokerage and are not quoted on the official list. Buyers. Sellers. £ s. d. £ s. d. Afforestation (£55) .. 40 0 0 A.P.A. 0 8 9 — Ballins Breweries 0 10 6 0 11. 9 Blackball Creek 0 1 3 Langes Mobile Gai .. 1 2 6 Kanieri 1 3 0 X 5 0 National Tobacco 0 14 0 National Invest, (10s paid) 0 5 0 N.Z. Perpetual Forests — 1 16 0 N.Z. Mining Invest. .. 0 0 2 N.Z. Perpetual Forests (4s paid) .. 0 7 2 0 11 0 N.Z. Pulping Mills (£1 paid) .. - — 0 7 Selfridges (N.Z.) (con.) 0 15 0 Tingey, R. and E. .. X 2 0 Timaru Lime (cum 0 18 0 1 0 0 Woolworths Properties 0 13 9 0 14 2 AUCKLAND • Sales on ’Change £ s. d. Rural Bonds,- 1947 (ex interest) 102 0 0 Ins. Stock, 1946-49 ex interest) (2) 101 0 0 Ins. Stock, 1938-52, 3J p.c. . 100 5 0 Ins. Stock. 1939-52, 34 p.c. . 100 5 0 Commercial Bank of Australia 0 15 10 Bank of New Zealand 2 X ? 1 11 10 2 1 9 Tooth’s Breweries 2 13 6 Broken Hill Proprietary 2 16 3 2 15 9 2 15 3 Consolidated Brick t Bt 0 7 6 Electrolytic Zinc 2 1 2 1 6 0 Electrolytic Zinc (pref.) 2 4 0 Farmers’ Trading . 0 19 9 G. J. Coles 3 18 3 Imperial Chemicals (2) 1 1 8 Taranaki Oil 0 12 Woolworths (Sydney) (2) 1 0 5 Broken Hill South 1 9 3 Loloma 1 4 10 Mount Morgan (ord.) 0 10 11 Overseas List Woolworths Holdings (S.A.) 0 15 2 WELLINGTON Sales on ’Change £ s. d. National Bank of A’asia. (£10 paid) 13 10 0 National Bank of N.Z. 2 12 0 E.. S.. and A. Bank 5 3 9 N.Z. Guarantee Corporation 0 4 li Dunlop Perdriau 1 0 11 British Tobacco 2 6 5 Farmers’ Fertiliser 0 17 0 (All above late Tuesday) Ins. Stock, 4 p.c., 194D 100 17 6 Carlton Brewery 3 3 6 New Zealand Breweries (2) 2 0 0 Broken Hill Proprietary 2 16 3 Imperial Chemical Industries (pref.) .. ' . 1 1 8 Taranaki Oil .. (2) 0 12 6 0 12 4 Woolworths. Ltd. (ord.) (3) 1 0 6 Mount Moi’gan 0 10 9 Colonial Sugar t • t 47 10 0

DUNEDIN Sales on ’Change £ s. d. Electrolytic Zinc (pref.] 2 4 3 Mount Morgan (3) Reported sales 3 n.c. Ins. Stock. 1939-41 96 10 0 3i d.c. Ins. Stock, 1953-57 . . 101 0 0 Bank of New Zealand (2) 2 2 0 Wilson’s Cement • • 0 16 7 Mount Lyell .. • • 1 6 Mount Morgan . • 0-11 11 North Broken Hill •• 2 5 41 SYDNEY Morning Sales £ s. Commercial Bank of Sydney. .. 20 3 0 Toohey’s Brewery Tooth’s Brewery Associated Newspapers Burns, Philp .. • * Henry Jones * * Morts Dock Afternoon Sales £ s. d. Bank of New South Wales 30 0 0 Comm. Banking of Sydney Commercial of Australia Colonial Sugar United Insurance Associated Newspapers Associated Newspapers (pref.) I 2 li Adelaide Steam British Tobacco • . Tooths Australian Glass .. Dunlop Perdriau . • • i 1 General Industries J. 3 Morts Dock 0 12 Hume Pipe o 19 Sargents I 5 Standard Cement 0 19 6 Hackshails • • 0 14 3 Nestles (pref.) 1 14 9 Standard Waygood 0 4 8 Winchcombe. Carson .. • • 1 6 0 Henry Jones • • 2 9 3 Fairymead Sugar 1 12 0 Electrolytic Zinc 2 0 3 Mount Morgan Mount Lyell 1 6 3 Broken Hill Pty. 2 15 6 Broken Hill Pty. (cont.) 1 17 6 Emperor 0 12 9 Taranaki Oil 0 8 \ MELBOURNE £ s. d. Comm. Bank of Australia 0 15 11 National Bank (£5 paid) 6 11 0 National Bank (£10 paid) 13 7 0 G. J. Coles 3 17 6 Australian Glass 4 12 6 Dunlop Perdriau 1 0 8 Goldsbrough, Mort X 6 9 Cox Bros. .. ' 0 16 Imperial Chemicals i i 8 Aust. Paper Mfrs. (pref.. old) 1 4 0 Electrolytic Zinc 2 0 6 Electrolytic Zinc (pref.) • « 2 4 9 Mount Morgan • • ? <4 0 Mount Lyell • • 1 6 6 Broken Hill Pty. • • 2 15 3 North Broken Hill 2 4 6 South Broken Hill • . 1 9 3 Emperor 0 12 7 Loloma • • 1 4 0 LONDON Sept. 6. Sept. 13. i s. d. £ s. d. British Tobacco ■ .. 1 18 1J 1 17 71 Goldsbrough, Mort ,. 1 0 7J ♦! 0 71 Dalgety 6 5 0 6 4 41 P. and O. Deferred .. 10 0 0 19 10i Dalgety (4 p.c. debs.) — 97 0 u Bulolo — 5 lb , ♦Nominal FOREIGN EXCHANGES (BRITISH OFFICIAI ■USELESS.) RUGBY September 13. Par. Sept. 12. Sept, 13. Paris.fr. to £1 170 178 19-64 178 19-64 New York, dol. to £1 4.866 4.811 4.801 Montreal, dol. to £1 4.866 4.831 4.82J Brussels, belgas to £1 35 28.581 28.461 fr. to £1 25.2215 21.301 21.27$ Amsterdam, fl. to £1 12.107 8.92 8.92 Milan, lire to £1 92.43 91 7-16 91 516 Berlin, reichmarken to £1 20.43 12.01 11.99 Copenhagen. kr. to £1 18.159 22.40 22.40 Stockholm. kr. to £1 18.159 19.40 19.40 Oslo, kr. to £1 18.159 19.90 19.90 Vienna, schgs. to £1 34.585 — — Prague, kr. to £1 154.25 1391 / 139g Helsingfors, marks to £1 193-23 2261 226$ Madrid, pesetas to £1 25.2215 — — Lisbon, escudos to £1 110 110 3-16 110 3 -16 Athens, drach to £1 375 5471 5471 Bucharest, lei to £1 818.60 670 670 Belgrade, dinars 376.3 214 214 Rio de Janeiro. pence to milreis .. 4.90 2.15-16 2 15. 16 Buenos Aires, pence to dol. 51 19.061 19.071 Montevideo, pence to peso • 20 201 Bombay, pence to rupee • 17 29-32 17 29-32 Shanghai, pence to rupee ♦ 81 51 Hong Kong. pence to yen ♦ 15 15 Yokohama, pence to yen 24.58 14 14 Batavia, guilders 12.107 8.901 8.901 Warsaw, par zlotys to £1 43.38 26.31 26.31 ♦Determined by price of silver.

BANK OF NEW SOUTH WALES The Bank of New South Wales quoted the ' following exchange rates yesterday:— Buying. Selling. N.Z. on 124/10/£N.Z. to £100 stg. T.T. 124 O.D. 123/11/3 124/9/6 Australia— 100/5/£A to £100 N.Z. T.T. 100/17/6 O.D. 100/17/6 100/5/Fill— 89 £F. to £100 N.Z. T.T. 90/7/6 O.D. 90/7/6 89 New York — Dol. to £1 N.Z. T.T. 3.8824 3.8485 O.D. 3.8874 3.8495 Montreal— 3.8713 Dol. to £1 N.Z. T.T. 3.9037 O.D. 3.9124 3.8723 Belgium— 22.759 Belgas to £1 N.Z. T.T. 23.069 O.D. 23.144 22.764 ' Czechoslovakia — Korunas 111.10 to £1 N.Z. T.T. — O.D. — , 111.12 Denmark — 17,893 Kroner to £1 N.Z. T.T. 18.203 O.D. 18.263 17.895 Finland— 179.60 Marks to £1 N.Z. T.T. 185.40 O.D. 185.80 179.70 France— 142.27 Francs to £1 N.Z. T.T. — O.D. — 142.29 Germany— Reichmarks 9.568 to £1 N.Z. T.T. — O.D. — 9.570 Greece — Drachmae T.T. — 429.54 to £1 N.Z. O.D. — 429.69 Holland — 7.119 Florins to £1 N.Z. T.T. 7.269 O.D. 7.309 7.121 Italy— 73.181 Lire to £1 N.Z. T.T. — O.D. — 73.206 7.097 Florins to £1 N.Z. T.T. 7.247 O.D. 7.287 7.099 Norway— 15.892 Kroner to £ 1 N.Z. T.T. 16.182 O.D. 16.242 15.895.-j Noumea— 140.52 Francs to £1 N.Z. T.T. — O.D. — 140.56 Papeete— T.T. — 140.67 Francs to £ 1 N.Z. O.D. — 140.71 Sweden — 15.489 Kronor to £1 N.Z. T.T. 15.784 O.D. 15.844 15.492 Switzerland — T.T. 17.275 17.005 Francs to £1 N.Z. O.D. 17.380 17.007 Chefoo — 11 45-64 11 45-64 N.Z. pence to dol. T.T. — O.D. — Hong Kong— N.Z. pence to dol. T.T. 18 7-16 18 13-16 O.D. 18 13-32 18 13-16 India and Ceylon— T.T. 22 7-64 22 25-64 N Z. pence to rup. O.D. 22 5-64 22 25-64 Japan— T.T. — O.D. — 17 9-16 17 9-16 N Z. pence to yen Manila— N.Z. pence to T.T. 30 15-32 3U peso O.D. 301 31J Shanghai— N.Z. pence to dol T.T- Not quoted O.D. Not quoted Singapore— T.T. 34 13-32 N.Z. pence to dol. 34 57-64 O.D. 34 5-16 34 57-64

all sections remain firm LONDON, September 13. Sept. 12. Sept-13. Copper— Standard, spot £ s. 41 8 d. 9 £ s. d. 41 8 1J Forward 41 12 6 41 13 1§ Electrolytic .. 46 15 47 15 0 0 46 IS 0 47 15 0 Wire bars .. 47 15 0 47 15 0 Lead— Spot • Forward 13 2 13 8 6 n 15 8 9 15 14 4* Spelter— Spot 13 19 4i 14 0 0 Forward 14 3 9 11 4 H Tin — Spot 192 0 0 192 7 6 Forward 192 15 0 193 7 S Silver — Fine, per oz. 19 7-16d 199-16* Standard, .. 21d 21 Jd per oz.