VALUES ON STOCK EXCHANGE

Press, Volume LXXIV, Issue 22521, 1 October 1938, Page 14

VALUES ON STOCK EXCHANGE

CHRISTCHURCH RATES. SEPTEMBER 30, 1938

FORMER LEVELS COMPARED

OTHER QUOTATIONS

SYDNEY

MELBOURNE

FOREIGN EXCHANGES

BANK OF NEW SOUTH WALES

BANK OF ENGLAND

RETURN

LONDON. September 29. The following is the Bank of Enftfam? return for the week ended September 29.

GOVERNMENT SECURITIES

LONDON, September 29. The following are the latest quotations for Government securities compared with quotations ruling last week. The quotations this week are the Government’s "mean” of wide limits:— Sept. 22. Sept. 29. £ s. d. £ s. d.

LONDON WOOL SALES

N.Z. CROSSBREDS IN

DEMAND

WITHDRAWALS AGAIN

FREQUENT

(EXITED PHEBB ASSOCIATION—COPYRIGHT.)

LONDON, September 29.

At the wool sales, 8994 bales were offered, including 5004 from New Zealand, and 6462 were sold. , There was a. moderate selection and a good Home demand for a large supply of New Zealand crossbreds. Otherwise demand was quiet and withdrawals frequent. New Zealand lots sold as follows: — Greasy halfbred, Macdonald Downs, 10Jd to 12Jd; slipe crossbred lambs, Awarua, 13d.

BRADFORD TOPS TRADE

LONDON, September 29. Sentiment is more optimistic at Bradford, but export business is small and quiet. Quotations are;—

PRACTICE OF SPLITTING LOTS COMMENT BY WOOLBROKERS’ ASSOCIATION

“Reference was made m the if sue of ‘The Press’ of September 29, following a cable report from Sydney under the heading of Sydney Sales Resume, to the practice of lot-splitting, and undying that such practice is consented to by the Christchurch Woolbrokers. This statement is contrary to fact, and eives a very erroneous impression of the position,” said Mr H. S. Lawrence, chairman of the Christchurch Woolbrokers’ Association, yesterday. “The matter of lot-splitting has at times in the past given concern to the woolbrokers in New Zealand, and as a result a regulation has reen included in the conditions issued by the New Zealand Woolbrokers’ Association governing the selling of wool throughout the Dominion. These conditions of sale are regularly reviewed by the New Zealand Woolbrokers’ Association, which is a Dominion body, representative of woolbrokers in all centres, and growers can rest assured that woolbrokers, not only in Christchurch, but throughout the Dominion, are fully alive to the necessity of protecting growers’ interests in this and other directions.”

BUYING RUSH IN BERLIN

REACTION TO MUNICH CONFERENCE

(Received September 30, 10.30 p.m.)

BERLIN, September 29. Reacting to the Munich conference, a single sitting of the Bourse almost recovered all the ground lost during the months of the crisis. JThe buying rush was so great that official quotations for many securities were fixed, with the greatest difficulty.

“OUT OF PROPORTION TO

BUSINESS”

PRICE INCREASES IN LONDON

[WITID PKSBB AMOCIiTIO* —COPT»IO»T.)

LONDON, September 29. The rise in prices on the London Stock Exchange has been out of proportion to the amount of business. It is still difficult to obtain reliable quotations, and even gilt-edged quotations «ir6 wide. Sterling also is stronger. Dollars at one time were offered from all sides, and 'were absorbed by the Exchange Equalisation Fund. ■ An interesting feature of the Bank of England return is the rise of more than £21,000,000 in the note circulation, reflecting partly minor hoarding, but chiefly preparations that the banks themselves were making to meet emergencies.

GOLD PRICE DROPS

LONDON, September 29. The easing in the international situation caused a drop of Is 2d in the price of gold to £7 5s lOd a fine ounce. The amount sold was valued at £1,447,000.

MINING

NEW RIVER The New River return tar the week ended September 29 is 470z from 7000 yards, in 99 hours.

WHITE’S ELECTRIC

The White’s Electric return for the week ended September 29 is 230z from 4600 yards in 90 hours.

SALE OF RICCARTON BUNGALOW

Messrs Ford and Hadfield, Ltd., Auctioneers and Real Estate Agents, 131-133 Worcester street, have to report having sold on behalf of Mr L. Hindle, his very fine bungalow, situKotare street, Riccarton, to Mr W. Dwyer. 1

SALE OF NEW BRIGHTON BUNGALOW

Messrs Ford and Hadfield, Ltd., Auctioneers and Real Estate Agents, 131-133 Worcester street, have to report having submitted to Public Auction, on behalf of Mr W. E. Leadley, his 2-storey bungalow, of 6 rooms, situated 29 Union street, New Brighton, and having sold same to Mr K. Hardie.

USED CARS. Are advertised through “The Press” want-ads. at the lowest possible cost. They offer the widest possible market to both the buyer and the seller. —6

LESS REVENUE

CUSTOMS RETURNS

FIGURES FOR MONTH AND

HALF-YEAR

A decline of £63,000 in the revenue collected by the Customs Department in Christchurch for the half-year ended yesterday, compared with the same period last year, is shown by the return issued by the department last evening. For the month of September there was a decline of £B2IB compared with September, 1937, but an increase of nearly £SOOO compared with August of this year. Last year at the same date the six months’ total showed an increase of £205.702 compared with the same half-year in 1936, and the month’s total an increase of more than £35,000. The'total revenue for the six months (the first half of 1938-39 financial year) was £1,036,798, and the revenue for September was £187,715. Theprevious year’s figures were £1,099,805 and £195,933 respectively. The. largest contributor to the £63,000 fall in the six months’ revenue is net customs duty, which has declined by £65,667. Sales tax is less than for the same period last year by £18,246. Other declines are: Tyre tax £ll2l, light dues on shipping £314, and export levy on wool £283. Iricreases are shown for the six months in beer duty £3717, petrol tax £9987, meat export levy £2756, and honey export levy £2B. Showing a slightly different tendency from the considerable decline in sales tax for the six months, the September month’s figure for this tax gives an increase compared with the same month last year of £785. The month’s total of £38,897 is also higher than the August figure by £lBlB. Other increases for the month were the export levies, giving £37 more for wool, £483 for meat, and £22 for honey. The decrease for the month is made up by the items, net customs £BBB2, beer duty £l6O, petrol tax £751, tyre tax £256, and light dues £165The detailed returns are:—

AUCKLAND Cpseu association TUKIUt.) AUCKLAND. September 30.

Customs revenue collected at Auckland showed a marked decrease in September compared with September, 1037. The collection last month was £274,987, a decrease of almost £BO,OOO. During the nine months of this year Customs revenue . has * totalled £2,566.520. In the corresponding period of 1937 the amount was £2 592,382. Motor-spirit tax yielded' £70,957 in September, which was an increase of £6625. The figures for this tax in the last nine months' also show a considerable increase, the total being £641,524, compared with £573,250 in the same period of 1937. Revenue from tyre duty, however, declined sharply; the September yield of £2162 was only a little more than half the September figure last year. For the nine, months. period this collection was £22,199, a decrease of more than £4OOO. Sales tax yielded less in September, although the total for the last nme months was higher than last year. The decrease this month was £4537, the total being £85,265; the collection lor the nine months was .£755,692, against' £749,454 from January to September, 1937. * Revenue from beer excise duty also, decreased, slightly this month, wen the yield was £14.041. Over the rfine months the total of £ 149,361 was £14,592 higher than in the corresponding period last year.

WELLINGTON

(PUSS iSSOCIATIOX- TIMSIUt.) - --- WELLINGTON, September 30. For the fifth consecutive month, n« customs revenue collected at Wellington shows a substantial decrease compared with the corresponding month last year. Revenue is still at a mgn level, but a year ago imports had reached their peak and some fallmgoft was anticipated. , . , _ Sales tax, beer duty, and tyre tax are all down, but revenue from petrol continues to increase. Net customs revenue collected at Wellington last month.,, totalled £320,416, compared with £385209 m. September, 1937, a decrease of £64,953. For the • nine months of the current year revenue totals £2,691,630, compared with £2,810,932 for the corresponding period of 1937, a decrease of £119,302. , ... - The last month’s figures (with those for September. 1937, in parenthesis) are: Motor-spirit duty, £71£58 (£70,725); tyre .tax, sales tax, £114,701 (£119,705); beet duty, £6098 (£6329).

DUNEDIN (PUSS UIOCUTIOI TXLSORAM-1 DUNEDIN, September 30. Aggregate revenue collected by m* Customs office during the month ended to-day shows a decrease compared with returns for the corresponding month of last year: and a decrease is also revealed in the figures for the halfyear compared with those for the first six months of the last financial year. The following are returns for me .month, compared with the figures for September. 1937. Sept., 1938. 1937.

SALE OF LINWOOD BUNGALOW! MESSRS BAKER BROS. (Estate Agents), LTD., 166 Manchester street report having sold, on behalf of Mr Partlett, a five-roomed bungalow to Rochester street, Linwood, to Mr Tucker. *

Return Amt. Approxmarket . « o . eLt* on Investpaid. a Companies. sh'e. Buyers. Sellers. Approx. market price. iprice a year ago. > rtjQ u w o Dividend payable. approx. market price. £ £ s. d. £ 8. d. £ s. d. £ s. d. £ s. d. N.Z. curr Banks— Australia Comm, of Aust. 5 10s 9 15 0 15 0 5 10 0 3 15 0 7 10 0 0 15 0 6 11 0 5 17 0 3 8 7 1-12 Feb.-Aug. Oct.-Mch. it 0 15 0 8 Comm, of Aust. 10 12} - ■ 9 ' 5 6 0 o 4 Oct.-Mch. 4 5 9 (pref.) Comm, of Syd. — — 15 20 5 5 15 0 0 7 7 Jan.-July Nov.-May 4 4 8 2 7 4 E., S. ( and A. .. 3 14 10 o 6 Nov.-May I — Natl, of A’asia 10 Natl, of A’asia (con.) Natl, of N.Z. .. * R 18 0 6 Nov.-May — 5 2 h 2 11 6 — 2 12 0 2 19 7 0 6 4} 6 Jan.-July Jan.-July ! 4 8 0 0 0 N.S.W. 20 ‘ ' 8 2 11 6 7 Jan.-July 4 4 10 Union New Zealand .. 5 1 2 2 6 2 3 0 2 6. 2 4 3 10 Jan.-July 4 15 2 Insurance — 7s • a n 18 0 10 5-71 May-Nov. 4 12 4 National — 14 3 3 0 10 Feb. Aug. *3 14 0 New Zealand .. 1 4 13 9 133 Apl.-Oct. 3 3 2 South British .. Standard 10s 1 - 2 15 0 2 14 6 2 18 0 12} Mch.-Sep. 4 11 9 Loan and Agency— 10 8 8 0 10 2 o 8 May-Nov. 5 0 0 Dalgety and Co. 5 7 11 6 6 0 14 3 7 Dec.-June 5 4 3 Goidsbrough, M. United Building 1 1 1 1 6 0 3 1 1 i 3 i 0 9 5 Oct.-Apl. 4 18 9 Frozen Meat— Gear N.Z. Refrig. 10s 1 - 0 0 14 18 6 0 0 0 14 17 8 4 9 0 1 0 18 1 o 0 9 0 9 11 7} 5} 5} 1 July-Oct. Feb. Feb. 5 6 6 4 3 17 3 11 6 N.Z. Refrig., con 10s Gas— o 1 V 6 5} July-Feb. 5 10 0 Auckland 1 13 6 15 1 5} JulyrFeb. 5 5 7 Auckland (con.) 15s — ' 6 6 7 Aug.-Feb. 5 5 7 Christchurch .. 1 13 3 7 Aug.-Feb. 5 7 8 Ch.Ch. (con.) .. 10s 1 16 0 8 Aug.-Feb. —— Wellington 1 ~ Shipping — 9 3 11 May-Dec. Huddart Parker 1 4 — P. and O. Def. Union (pref.) .. 1 1 - 1 6 0 1 6 6 5}-May-Dec. 4 4 7 Coal— Taupiri Westport 1 10s - - 0 1 15 4 0 6 0 1 16 5 3 6 5 10 Nov.-May May-Nov. 6 4 13 1 4 7 Breweries—. Carlton New Zealand .. Tooheys Tooths 1 1 16s 1 2 2 0 12 4 7 2 2 0 13 6 6 3 2 1 2 0 0 12 13 0 6 0 0 3 2 1 2 2 9 12 15 6 6 0 0 15 8} 9 10} Oct.-Mch. Jan.-July Mch.-Sep. May-Nov. 5 0 4 3 4 10 3 19 0 11 0 3 Miscellaneous— 1 4 8 0 4 10 6 4 9 0 4 12 0 15 Dec.-June 3 7 4 1 0 19 0 1 1 0 0 19 6 1 1 0 5 Mch.-Sep. 5 1 2 6 6 2 7 4 2 6 6 2 8 9 10 March 4 Broken Hill Pty. 1 2 15 3 2 15 6 2 15 6 3 17 3 12} Nov.-May 4 Burns, Philp .. 1 1 3 16 6 3 17 0 2 3 10 17 6 0 3 0 0 10 17} Nov.-May Jan.-July 4 10 11 20 145 15 01 47 10 0 | 46 5 0 47 5 0 7} Nov.-May 3 4 Dom. Fertiliser 1 1 0 19 10 1 0 4 19 0 11 1 0 4 19 0 11 1 1 3 2 6 6 6 7 June Apl.-Oct. 5 7 0 7 1 2 0 1 2 0 2 2 0 2 2 14 0 17} Mch.-Sep. 5 Elec. Zinc (pf.) Henry Jones .. 1 1 25s 2 4 8 2 5 6_ 2 1 5 2 & 6 2 2 1 15 9 2 6 0 3 17} 10 6 Mch.-Sep. June-Dee, June-Dee. 7 6 13 4 2 3 8 9 — 3 9 0 3 13 0 8 Sep.-Apl. 4 12 1 1 6 7 1 7 1 1 7 0 2 0 7 17} June-Dee. 12 19 2 1 0 16 0 0 16 6 1 0 3 6 August 7 & N.Z. Newspapers 16/8 2} 1 14 0 1 15 0 1 3 14 2 6 0 1 3 18 5 6 0 8 6 Nov.-May Mch.-Oct. 3 4 17 16 3 9 10s 0 16 0 0 18 0 0 16 6 1 0 0 7} Nov.-June 4 10 11 Wool worths 5s 1 0 3 1 0 HI 1 0 9 .1 15 Oct.-Apl. 3 12 3 Where no approximate price is given return is worked on mid-market price. unless only one quote is given.

AUCKLAND Bales on ’Change £ E. d. 4 p.c. Bonds, 1952-55 100 7 6 3 p.c. Stock. 1939-41 96 10 0 4 p.c. Stock, 1943-46 100 0 0 4 p.c. Stock, 1952-55 99 17 6 3J p.c. Stock, ■ 1939-43 98 5 0 Bank of New Zealand 2 2 0 2 2 3 N.Z. Insurance (3) 2 14 0 South British 2 5 0 Dominion Invest. Banking 0 17 6 N;Z. Guarantee Corporation 0 4 ' 2 Devonport Ferry 1 0 3 Dominion Breweries .. 1 10 0 N.Z. Breweries •• 2 0 0 Australian Glass 4 18 9 Broken Hill Pty. 2 16 9 IB 6 3 Broken Hill Pty. (con.) i 17 6 Colonial Sugar 45 0 0 Electro. Zinc. 2 1 0 Electro. Zinc (pref.) .. 2 2 5 6 6 o Farmers’ Trading .. 0 19 5 G. J. Coles .. „ 3 15 6 Imperial Chemicals (pref.) 1 1 9 Morts Dock (2) 0 12 0 Taranaki Oil 0 12 2 0 12 4 Walrakei .. • • 0 6 0 Wilson’s Cement 0 16 6 Woolworths (N.Z.) •. 0 18 0 Woolworths (Sydney) . • 1 1 0 o 6 7 Martha .. • • 0 10 9 Waihl Investments 0 7 10 Waihi Junction 0 . 2 10 Mount Morgan 0 10 9 Broken Hill South 1 9 6 Overseas List Woolworths Holdings (S. Africa) 0 19 0

N.Z. Govt. Debentures ' Buyers. Sellers. £ s. d. £ s. d. 3 p.c. Ins., 1941 — 98 5 0 3i p.c. Ins., 15/3/40-43 97 15 0 — 34 p.c. Ins., 1938-52 — 100 2 6 34 p.c. Ins., 1953-57 — 93 5 0 4 p.c. Ins., 1943-46 99 10 0 100 0 0 4 p.c. Ins., 1949 100 10 0 — 4 p.c. Ins., 1955 100 5 0 100 —— 4 p.c. Bonds, 1946 99 12 6 5 0 4 p.c. Bonds, 1949 100 10 0 — 4 p.c. Bonds, 1953 100 5 0 — Other Debentures Gisborne Sheep. 64 p.c., 101 0 103 31/8/41 0 0 0 Dominion Fertiliser 102 0 0 — Loan and Agency National Mort A (£2) — 2 15 0 N.Z. Guar. Corpn. (cum 44 div., 3s) — 0 4 Frozen Meat Cantby. (£7 10s paid) 9 7 6 — North Cantby. Freezing 0 16 18 (pref., £1) 3 0 0 Southland (£1) — 1 10 6 Woollens JKalapol (17s paid) 0 8 6 0 11 0 Coal Grey Valley (£1) . — 0 11 0 .Westport-Stockton (10s) 0 3 0 *■— Westport-Stockton (p£., 10s) 0 5 6 0 7 3 Breweries Crown (In liqdn.) 0 1 0 — Dominion (£1) 1 9 0 — Swan (Ss) 1 5 6 — Tlmaru (in liqdn.) 0 0 9 0 1 0 Miscellaneous Alloy Steel (N.Z.) (£1) 1 1 6 1 3 6 Anthony Hordern (£1) 0 15 11 0 16 5 Berlei (N.Z.) (£1) .. 3 0 0 — Booth, Macdonald (pf.. (£1) — 6 0 2 2 Dom. Builders (10s) .. 0 2 0 3 0 Donaghy Rope (£1) .. 2 2 9 2 6 9 D.I.C. (10s paid) ‘ .. 0 13 6 *“ D.I.C. (pref.. £1) — 1 4 0 Hay’s, Ltd., (con., 15s 18 9 paid) ' — 0 Howard Smith (£1) .. 0 17 3 0 18 6 Hume Pipe (Aust.), 0 19 (cum div., £1) 4 1 0 0 "NUWaquin Sugar — 2 0 0 Morris, Hedstrom (£1) 1 4 0 McKenzies, Ltd. (£1) 2 17 0 — N.Z. Farmers’ Co-op. 12 (£2 10s paid) ’ .. N.Z. Farmers’ Co-op. — 0 0 1 10 (A pref., £5) N.Z. Farmers’ Co-op. 0 (44 p.c. Stock, 1950, 90 IS £100) 0 N.Z. Farmers’ Co-op. (44 p.c. Stock. 1955, 90 15 £100) .. •• 0 ■“ Quill, Morris (1936), (£1) Taranaki Oil (24/7 pd.) 0 12 1 1 0 0 12 0 4 United Pro vis. (cum 8 div., £1) •• 0 7 2 0 0 Woolworths (N.Z.) (5s) ( 0 17 9 0 19 0 Woolworths (N.Z.) (pf., 19 cum div., £1) — 1 0 Overseas Listings Woolworths (S.A.) (5s) 0 15 0 0 15 3 Mining • Argo (Is) 0 1 6 0 i ii Argo (con., Is) 0 1 4 0 1 8 Big River (Is) •— 0 1 2 Austral-N.Z. (£1) —- 1 1 0 Gillespie's Beach (Is) —■ 0 1 1 Golden Point (6d) — 0 0 1 Golden Sands (Is) — 6 0 1 6 Grey River (10s) 0 13 Maori Gully (Is) .. 0 0 4 Martha (cum div., 5s) 0 10 9 5* Moonlight Gold. (8d) 0 0 44 0 0 Nemona (Is) — 0 1 5 New River (Is) 0 0 7 0 0 9 Skippers, Ltd. (Is) .. — 0 0 1 Skippers, Ltd. (pf., Is) — 0 0 6 Worksop Extend. (Is) 0 0 104 0. 1 1

DUNEDIN Sales on ’Change £ s. d. Big River Gold ■ (2) 0 1 0 Sales Reported Auckland City Debs, 4i p.c. ' 1944-52 .. 100 10 0 3J p.c. Stock, 1938-52 100 0 0 Nokomal Gold 0 1 6 Comm. Bank (10s paid) 0 15 9 Electrolytic Zinc (ord.) 2 0 3 Sales After Call Bank, of New Zealand 2 2 6 Comm. Bank 0 15 10 VJoolvioTtVvs (.Sydney) .. G. J. Coles - l u 3 IB 9 0 3 18 1 Broken Hill South 1 9 9 North Broken Hill (ex div.) .. 2 4 6

Moraine Sale* £ S. d. Tooths . . 2 12 3 Australian Gas A (old) 7 1 0 Anthony Hordern 0 15 6 British Tobacco (ex div.) 2 6^ 6 Burns, Phllp 2 10* 6 Broken Hill Pty. 2 15 0 Colonial Sugar • • 44 1U 0 Fairy mead Sugar 1 ii 6 Afternoon Sales £ s. d. Bank of New South Wales 30 17 6 Comm. Bank of Sydney 19 13 0 Comm. Bank of Australia 0 16 0 Bank of New Zealand 2 1 11 Howard Smith (N.Z. delivery) 0 IB 3 Colonial Sugar 46 15 0 Burns, Phllp 2 10 G Huddart Parker 2 6 0 British Tobacco 2 7 9 Tooths 2 13 6 Tooheys 1 10 0 G. J. Coles 3 16 0 Australian Glass 4 11 0 Dunlop Perdriau (ex div.) 1 0 0 Farmers 1 9 3 David Jones 1 17 0 Anthony Hordern 0 15 6 Kandos 1 4 6 Masonite 0 15 9 W. Adams 0 14 0 Standard Cement 0 19 6 Wunderlich 0 19 0 Woolworths 1 1 0 Newbold Brick 1 10 0 McGrath 1 18 3 Mauri Bros. 3 0 0 Mark Foy 0 18 4 Victoria Nyanza 0 14 0 United Provisions 0 7 6 Goldsbrough, Mort •1 7 6 Wilcox, Mofflin 0 6 0 Henry Jones 2 8 6 Sargents 1 6 0 Mount Morgan 0 10 11 Mount Lyell 1 7 3 Broken Hill Pty. 2 15 3 North Broken H1U 2 5 0 Larut 0 11 6 Loloma 1 3 1 Oil Search 0 8 9

Australian Mining Broken Hill South (5s) 1 0 1 1 9 6 Mount Morgan (2/6) .. 0 10 8 0 10 10 North Broken Hill (ex div., 5s) Rawang Tin (ex dlv., 2 3 9 2 5 0 * 10s) * • 0 7 7 •— Wellington Alluvlals 0 4 91 —

UNLISTED STOCKS All transactions In stocKs quoted In this section are subject to a different rate of brokerage from listed stocks. and are not quoted on the official list:— Buyers. Sellers. £ s. d. £ s d Blackball Creek .. 0 1 1 Kanieri 1 5 0 Ngahere 0 10 0 0 14 0 N.Z. Mining Invest. .. — 0 0 2 Selfridges (N.Z.) — 0 14 0 Smith, Wylie 0 2 6 0 10 0 Rink Taxis _ 0 5 0 Timaru Lime (ex'dlv.) _■ 1 0 0 Woolworths Properties — 0 14 3

Sales £ 8. d. Comm. Bank of Aust .. 0 15 10 National (£5 paid)(pref.) 6 9 0 Australian Paper Mfrs. 1 4 6 Howard Smith 0 18 0 British Tobacco 2 7 3 •Carlton Brewery 3 2 0 G. J. Coles 3 17 6 Australian Iron and (pref.) . .. Steel 1 6 0 Australian Glass 4 11 6 Dunlop Perdriau 1 0 10 Melbourne Invest. Trust 0 10 6 Herald and Times 2 18 6 Imperial Chemicals (pref.) •• 1 1 6 Electrolytic Zinc 2 1 8 Electrolytic Zinc (pref.) 2 5 4 Mount Morgan 0 10 10 Mount Lyell .. 1 7 4 Broken Hill Pty. 2 17 0 North Broken Hill 2 4 0 South Broken Hill .. 1 9 10 Emperor; .. > «• 4 Loloma . .«• _ it 1 3 4

WELLINGTON Sales on ’Change £ s. d. 32 p.c. Stock. 1939*43 98 6 0 3J p.c. Stock, 1953-57 (2) 93 0 0 G. J. Coles ... 3 15 0 Wairakei, Ltd. , 0 0 6 0 Nokomai 0 1 4 (All above late Thursday) 32 p.c. Stock, 1939-43 .. • , , 98 2 6 32 p.c. Stock. 1953-57 .. 93 0 0 Bank of New Zealand , , 2 2 2 N.Z. Breweries ... 2 0 0 British Tobacco (5) 2 7 4 Broken Hill Pty. (4) 2 15 3 Colonial Sugar 44 12 6 G. J. Coles . , 3 16 ,0 Taranaki Oil .. 0 12 4 0 12 6 Woolworths, Ltd. '(ord.) V’ £ 1 1 0 Woolworths (N.Z.) <u i ; 0 18 A*

(B&mss o»ficiix wtaznEsa.) RUGBY, September 29. Par. Sept. 28. Sept. 23. Paris, fr. to £1 170 178 9-16 1781 New York, dol. to £1 4.866 4.71 4.75! Montreal, dol. to £1 4.866 4.811 4.83} Brussels, belgas to £ 1 35 27tt01i 28.171 Geneva, fr. to £1 25.2215 21.16 21.10 Amsterdam, fl. to £1 12.107 8.771 8.8401 Milan, lire to £1 92.43 89 903 Berlin, reich- ■ marken to £1 20.43 11.901 11.921 Copenhagen, kr. to £1 18.159 22.40 22.40 Stockholm, kr. to £1 18.159 19.391 40 Oslo, kr. to £1 18.159 19.90 19.90 Vienna, schgs. 34.585 to £1 — *“ Prague, kr. to £1 154.25 137 138 Helsingfors, marks to £1 193.23 226} 2262 Madrid, p'ese25.2215 tas to £1 — Lisbon, escudos to £ 1 110 . 110 3-16 110 Athens, drach to £1 375 5471 5471 Bucharest, lei to £1 818.60 660 660 Belgrade, dinars 376.3 214 210 Rio de Janeiro, pence to milreis 4.90 2 31-32 3 Buenos Aires, pence to dol. 51 18.801 18.89 Montevideo. 20 202 pence to peso * Bombay, pence to rupee • 17 59-64 17 15-16 Shanghai, pence 82 82 to rupee • Hong Kong, 15 15 pence to yen • Yokohama, 24.58 14 14 pence, to - yen Batavia, guilders 12.107 8.581 8.821 Warsaw, par zlotys to £1 43.38 26.31 26.31 •Determined by price of silver.

The Bank of New South Wales quoted the following exchange rates yesterday;— Buying. Selling. N.Z. on London — £N.Z. to £100 stg. T.T. 124 124/10/O.D. 123/11/3 124/9/8 Australia — £A. to £100 N.Z. T.T. 100/17/6 100/5/O.D. 100/17/6 100/5/FI £fT to £100 N.Z. T.T. 90/7/6 O.D. 90/7/6 89 89 New York— Dol. to £1 N.Z. T.T. 3.8703 O.D. 3.8790 3.7752 3.7762 Montreal — Dol. to £1 N.Z. T.T. 3.9332 O.D. 3.9419 3.8246 3.8256 Belgium— _ Belgasto£l N.Z. T.T. 22.923 O.D. 22,998 22.398 22.403 Czechoslovakia— Korunas to £1 N.Z. T.T. — O.D. — 108.02 108.04 Denmark — Kroner to £1 N.Z. T.T. 18.328 O.D. 18.388 17.788 17.790 Finland— • Marks to £1 N.Z. T.T. 187.32 O.D. 187.72 . 177.72 177.82 France— Francs to £1 N.Z. T.T. 146.28 O.D. — 141.04 141.06 Germany— Kelchmarks to £1 N.Z. T.T. — O.D. — 7,777 7.779 Greece— Drachmae to £1 N.Z. T.T. — O.D. — 423.80 423.95 Holland— Florins to £1 N.Z. T.T. 7.256 OJ3. 7.296 7!048 7.048 Italv— Lire to £1 N.Z. T.T. — O.D. — 71.931 71.956 Java— ._ Florins to £1 N.Z. T.T. 7.238 O.D. 7.278 6.983 6.885 Norway— . _ Kroner to £1 N.Z. T.T. 16.279 O.D. 16.339 15.814 15.817 Noumea— _ Francs to £1 N.Z. T.T. 152.44 O.D. — 136.46 136.50 Papeete— Francs to £ 1 N.Z. T.T. 151.39 O.D. — 136.84 136.88 Sweden— Kroner to £1 N.Z. T.T. 15.906 O.D. 15.966 15.388 15.391 Switzerland— Francs to £ 1 N.Z. T.T. 17.264 O.D. 17.369 16.754 16.756 Chefoo— N.Z. pence to dol. T.T. — O.D. — 13g 13g Hong Kong— N.Z. pence to dol. T.T. 18 11-64 O.D. 18 9-64 19 7-64 19 7-64 India and Ceylon— N.Z. pence to rup. T.T. 21 61-64 O.D. 21 59-64 22 39-64 22 39-64 Japan— N.Z. pence to yen T.T. — O.D. — 17 43-64 17 43-64 Manila— N.Z. pence to peso T.T. 30 9-16 OJ3. 30 15-32 32 1-16 32 1-16 Shanghai— N.Z. pence to dol. T.T. — O.D. — 12g 12g Singapore— N.Z. pence to dol. T.T. 34 1-16 O.D. 33 31-32 35 11-64 35 11-64

ISSUE DEPARTMENT Notes issued— In circulation • • In banking department £ .., 500.900.000 .. 25.500,000 526.400.000 Government debt .. Other Govt, securities Other securities Silver coin 11,000.000 .. 188.400,000 .. 600.000 Fiduciary issue -- Gold coin and bullion .. 200,000.000 .. 326.400,000 526.400,000 BANKING DEPARTMENT S tal :: :: :: l w8o:888 pubuc .. i&gggjgg Other Accounts .. .. 40.200.000 169,800.000 Government securities Discounts and advances Other securities Notes and coin .. 112,800,000 ., 7,300.000 .. 22.800,000 .. 26,900,000 169.800,000 The ratio of reserves to 17.17 per cent. liabilities is

British— 71 72 10 Consols, 2} p.c. •• 0 0 0 Funding Loan. 4 110 •107 p.c., 1960-90 .. War Loan, 3J p.c., 0 0 0 0 100 99 1952' 0 0 0 0 Con Loan. 31 p.c.. 98 1961 98 10 0 0 0 Victory Bonds, 4 p.c. 107 0 0 106 10 % Commonwealth — 12 6 103 5 p.c.. 1945-79 104 0 0 4 p.c., 1043-48 99 5 0 97 0 0 3J p.c., 1948-53 .. 96 15 0 96 0 0 3J p.c., 1056-61 87 7 6 88 0 0 3 p.c., 1955-58 .. 84 10 0 o CO 0 New South Wales— S 90 10 3i p.c., 1930-50 .. 94 2 0 Victoria — 86 3 p.c., 1929-40 90 0 0 5 0 32 p.c., 1940-60 .. 100 10 0 99 0 0 4 p.c., 1945-75 104 5 0 101 0 0 Queensland — 3 p.c., 1922-47 91 10 0 87 0 0 5 p.c., 1948-60 100 12 6 100 0 0 South Australia — 104 6 99 5 p.c., 1940-60 2 5 0 3 p.c., 1916 (opt.) 74 0 0 74 0 0 Western Australia — 10 96 12 6 4 pic., 1942-62 .. 98 0 Tasmania — 99 31: p.C., 1920-40 .. 99 15 0 5 0 4 p.c., 1940-50 98 10 0 98 10 0 New Zealand — 6 9.7 10 41 p.c., 1948-58 .. 98 7 0 3 p.c., 1940 98 10 0 96 0 0 3 P.C., 1945 91 7 6 91 10 0 *Ex interest.

Last Last year. week. Sept. 30 Merinos — d. d. d. . 70’s ,. 36 26* 28* 64’s .. 34* 25 27 60’s .. 33* 24 26 Crossbred— .. 29* ,21 23 58’s 56’s ..28 19 21 50’s .. 25* 17 17* 46’s .. *25 *16 *16* 44’s .. *25 *16 •16* * Nominal.

Month, of September 1937. £ 1936. £ Customs .... 120.720 112,488 Beer 9.518 9358 Main Highways Revenue— 34,132 Petrol, 6d gal 25,063 Tyres .. 1,231 975 Sales tax .. 38,112 38.697 , Light dues 555 390 Export Levies— 62 90 Wool Meat 618 1,101 Honey 1 . 23 Miscellaneous .. 53 72 Totals 195,933 187,715 First Half of Financial Year' Apl. 1 to Sept. 30. , 1937. 1938. £ - Customs .. 650,687 501,020 Beer duty .. 57,481 61,196 Main Highways Revenue— 145.064 Petrol tax 135,077 • Tyre tax 7.229 6.096 Sales tax 238,349’ 220.103 Light dues .. 4,015 3.701 Export levies — 1287 Wool 1,570 Meat 5.100 7256 .Honey .. 13 41 Miscellaneous .. 284 430 Totals .. 1,099305 1.036,796

£ £ Customs duty Beer duty Sales tax Petrol tax Gold tax Tyre tax Pi mires for .. 76,476 .. 25,664 .. 26,997 .. 16,249 .. 1.645 969 the half-year. 83,653 25,111 24,945 15,699 1,574 777 together with those for the first half of the last financial year, are as follows:—April- AprilSept., Sept., 1938. 1937. £ £ Customs duty .. 379.198 424,649 Beer duty .. 141.946 139,540 Sales tax .. 150.883 157,572 Petrol tax ., 92.488 87,531 Gold tax .. 10.818 11,378 Tyre tax .. . 4.360 5,816