COMMERCE AND FINANCE

Otago Daily Times, Issue 22986, 15 September 1936, Page 6

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS

THE SHARE MARKET DUNEDIN STOCK EXCHANGE There was very little interest dispkiyed in banking issues on the Dunedin Stock Exchange yesterday, and no sales in this section were recorded. Contributing New Zealand Refrigeratings were sold on ’Change at 9s, which shows a fall of several pence on the sales of a month ago. There was a further buyer at this figure, but sellers were absent. Broken Hill Proprietaries continued to be in firm demand and a sale was recorded on ’Change at £3 18s with further buyers unsupplied at £3 17s 9d. Australian Glass shares were firm With unsupplied buyers at £4 13s, Tooth’s Brewery shares, which rose sharply last week, had reported business at £2 15s Sd, but a buyer on the last 'call at £2 15s 6d failed to attract sellers.’ Mount Morgans were firm with business at 13s, the market closing with sellers a penny on either side of this figure. There were two sales reported in the Government Loans section, a parcel of 4 per cent. Bonds; 1937-40, changing hands late on Saturday at £lOl T7s 6d and a parcel of 1943-46 Bonds at £lO3 17s Cd. In the unlisted ! section there was a reported sale of New Rivers at Bid. v ; . SALES ON ’CHANGE ,

The following are yesterday afternoon’s buying and selling quotations, which are subject to the usual broker-

NORTHERN EXCHANGES AUCKLAND ' Sales on 'Change

WELLINGTON

CHRISTCHURCH Sales on ’Change

AUSTRALIAN FRUIT LOSS OF DOMINION TRADE HOPES OF RE-ESTABLISHMENT * (Per United Press Association ) WELLINGTON, Sept. 14. “The growers of New South Wales felt very keenly the loss of the market they had established with the Dominion so many years ago, and the pioneers of the industry, many of whom are still actively associated as producers, are hopeful that something may be done to reopen the trade,” said Briga-dier-general J. Heane, president of the New South Wales Fruitgrowers’ Federation, who, with Colonel E. E. Herrow, the federation’s secretary, and Mr P. S. Macdermott, a member of the council of the New South Wales Chamber of Fruit and Vegetable Industries, arrived by the Marama to-day. They are to discuss fruit matters generally with various sections of the industry in the Dominion. SHORTER WORKING HOURS RISE IN' PRICES NECESSARY EXPERIENCE OF BERLEI, LTD. Speaking at the annual meeting ip Sydney of Berlei, Limited, the chairman, Mr Arthur Burley, said the directors of Berlei (New Zealand), Limited, had found it necessary to increase prices as a result of the 40-hour week increasing their costs of production, and had reported that such action must become general in the Dominion. The results of the New Zealand experiment would be watched with the greatest interest in Australia. “The upward trend in business has shown no steep rises, giving more assurance of permanent improvement, said Mr Burley. “The company’s im- § roved results from trading in all tates reflected tho general condition, ■and with excellent seasonal prospects and improved prices of primary products we have ever reason to expect still further progress toward prosperity.”

FOREIGN EXCHANGES (British Official Wireless) (United Press Association) (By Electric Telegraph-Copyright)

ON NEW ZEALAND CURRENCY BASIS ■ The Bank of New 80111 b Wales, Dunedin limited the following rates for purchases and sale* of foreign exchange yesterday:— London- Buying. Soiling

DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted me following dollar rales yesler day on a New Zealand currency basis. They are subject to alteration without notice: —

FROZEN PRODUCE TRADE KILLINGS FOR EXPORT The New Zealand ’'’eat Producers’ Board has supplied the following figures showing killings for export at all New Zealand works from October 1, 1935, to August 31, 1936, with last year’s figures for comparison:— NORTH ISLAND

VICTORIA NYANZA, LTD. The directors of the Victoria Nyanza Sugar Company. T imited, report that weather conditions at the company’s plantations, Kenya, have been exceptionally favourable, and good results for (he 1936-37 year are anticipated. Although the audited recounts for the vear ended June 30 are not yet to hand, the financial position of the company has improved.

PRICE OF POTATOES SHARP INCREASE IN AUCKLAND SHIPMENTS TO SOUTH AMERICA (Special to Daily Times) AUCKLAND, Sept. 14. The price of potatoes has increased sharply over the past few days, and values are still rising rapidly. To-day merchants’ quotations varied considerably, reds ranging from £9 10s to £lO 5s a ton through store, while whites are selling from £9 5s to £9 15s a ton through store. The rates quoted at the beginning of last week were £8 17s 6d a ton through store for reds, and £8 2s 6d for whites. In the opinion of Auckland merchants, the rise is due to several factors. The main influe-ce is the continued demand from Scuth America, which has imported fairly heavy quantities during the past month. It is also reported that a shipment of seed potatoes has been arranged. The next supplies for South America will leave by the Port Fairy from Lyttelton on September 22. Although the amounts shipped have not been particularly large, the psychological effect on the northern markets has been considerable. Another factor influencing the position is that the Auckland market is practically bare of supplies. There has been an interruption In the steamer service from the south. Another cause of the rise is that the Pukekohe croji is expected to be late this year. This crop is not expected to be ready until the end of October or early in November. With the necessity of drawing on the South Island for supplies for almost two months and the possibility of further shipments being made to South America, Auckland merchants agree that the prices will probably rise still higher. There is generally an increase in values at this time of the year, quotations having reached as high as £l9 a ton through store in September, 1935. AUSTRALIAN STOCK EXCHANGES SYDNEY, Sept. 14. (Received Sept. 14, at 10 p.ra.) Industrials came in for a good share of attention at firmer rates on the Stock Exchange to-day. The market was brisker than usual for Monday. THE MORNING SALES £ s. d.

MELBOURNE, Sept. 14. Bonds and industrials were quiet but there was Rood support for Broken Hill Proprietary and Electrolytic Zinc shares, and little activity in gold min-

THE WOOL MARKET ' BRIGHT PROSPECTS FOR NEW - SEASON (Per United Press Association* WELLINGTON, Sept. 14. Although the wool market showed a considerable improvement last season, Mr E. L. Hazelton, of Wellington, who returned by the Maunganui after spending four months in North America, says the prospects for the coming season are still brighter. Conditions are improving in the United Stales, and there is a good demand for wool there. INCREASED JAPANESE DEMAND GOOD MARKET IN AMERICA (Special to Daily Times) AUCKLAND, Sept. 14. One of the results of Australia’s dispute with Japan will be a sharp increase in Japanese wool purchases from New Zealand this season. This opinion was expressed by Mr W. Crowe, a prominent American wool importer, who arrived by the Niagara from Sydney on his way home to Portland after making a combined business and pleasure visit to Australia. Mr Crowe also predicted a good American market for New Zealand wool. “ Zealand will benefit from the absence" of any prohibiting treaties between her and Japan,” Mr Crowe said. “ I think Japan will consume much of your wool this season, especially in the finer grades. The wool market should be steady all over the world because we are out of the depression and the first thing people think of in time of upward trends is the purchase of food and clothing.” NEW ZEALAND HEMP Wrigglesworth and Co.. London. August 1, reported that mails to hand illustrate the difficulties confronting hemp millers in New Zealand. High production costs and a fluctuating Government subsidy prevent shippers from negotiating, especially row that the seasoh is practically at an end. It is to be hoped that before another period comes round the industry will be in a stronger position to compete with other hard fibres. Quotations are purely nominal in the absence of business. Good fair, £23 10s ton: high point fair, £22: fair, £l9; common, £lB 10s, No, 2 tow, £l4; No. 3 tow, £l2 10s. All August-September shipment. C.i.f. London basis.

MINING NEWS OKARITO RETURN Messrs W. A. Mitson and Co., secretaries of the Okarito Five Mile Beach Gold Dredging Company, Ltd., report that the wash-up for the week ended on Saturday last was 260 z 2dwt for 126 hours’ dredging. WAIPAPA BEACH RETURN Messrs W. A. Mitson and Co., secretaries of the Waipapa Beach Gold Dredging Company, Ltd., report the receipt of advice of a wash-up of 240 z 4dwt for 121 hours’ dredging. AUSTRALIAN GOLD OUTPUT The Commonwealth Statistician announced recently that the production of gold in Australia for July amounted to 104,645 fine ounces, and that this was the greatest quantity produced in any month since monthly records of production first became available in 1926. /Its value was ■ £A896,D43 (£5tg.717,554). In July of last year the production was 77,497 fine ounces, valued at £A673,631. The gold production in Australia, in the seven months ended July 31 last was 630,533 fine ounces, valued at £A5,451,859. In the seven months ended July 31, 1935, the production was 464,391 fine ounces, valued at £A4,087,715. Comparison between those two periods is affected by the industrial dispute on the goldfields of Western Australia during February and March, 1935.

BIG RIVER MINES The report of Big River Gold Mines, Ltd., for the week ended on September 7 states:— No. 4 Level.—Stoping is proceeding in the north slopes, centre slopes, and south slopes. In the last-named slopes there is an improvement in the north end. The reef is extending further north than the previous slope. This stone carries nice gold. No. 5 level has been extended 15ft for the week, making the total distance driven from the main shaft 80ft. More favourable country has appeared in the face of the drive, which is carrying quartz stringers. Thirty-six tons of stone have been delivered to the mine paddock on the surface. The battery is crushing one shift per day. ALEXANDER MINES The tenth ordinary general meeting of shareholders of Alexander Mines, Ltd., was held on September 8 at Reefton. Thirty-three shareholders, holding 21,424 shares, were represented at the meeting personally and by proxy. Mr F. W. Manton presided. The directors’ report, balance sheet, and statement of profit and loss account for the year ended on May 31 were adopted. The retiring directors, Messrs S. A. A. Fry and George Lambert, were reelected unopposed. The retiring auditors, Messrs W. B. Auld and W. H. Cooper, were also re-elected unopposed. Mr Joseph Bolitho, mine superintendent, was present at the meeting, and informed shareholders of the latest developments at the mine. The future outlook of the mine was, he said, considered to be most promising. The quantity of ore developed and in sight between Nos. 4 and 5 levels was greater than had ever been shown in the upper levels from No. 4 level to the surface. It was anticipated that the mine will shortly regain the dividend list. MATAKIRETURN (Per United Press Association) AUCKLAND, Sept. 14. The Mataki return for the week ended September 13 was 320 z for 134 hours’ work, and 8700 yards treated. Scott Bros., produce merchants and commission agents, agents for "The Dunedin Egg Suppliers’ Association,’' report:— Eggs; Poultry farmers’. Is Id; storekeepers’, lid to Is per dozen. Butter, to lOd per lb. Honey: Bulk, to 4£d per lb. Poultry; Hens, light Is 6d to 2s, heavy 2s 3d to 2s 6d; roosters, Is 6d to 2s; boiling roosters, Is each; cockerels, Is 6d to 3s each. Ducks, 2s to 2s 6d each. Geese, 3s to 4s each. Turkeys: Hens 7d to 8d per lb, gobblers 8d to 9d per lb. Pigs: Prime baconers, 7d per lb: porkers, 6Jd per lb. Fat: Nominally 10s to 12s per cwt. Potatoes. Arran Chief, £5; King Edward, £5 15s per ton. Chaff: Prime oaten sheaf, £5 5s per ton. bags extra, ex store. Onions: Brown Spanish. £lO per ton; Japanese, 10s per crate: Californian. 10s per bag. Partridge peas, to 6s 6d per bushel, sacks extra Australian barley. 3s 9d per bushel, sacks extra. Barley pollard, 9s 6d per sack of 1501 b. Whole fowl wheat, 5s to 5s 3d per bushel, sacks extra. Seed potatoes: Jersey Bennes, £lO to £l3; King Edwards. £6 10s per ton. Whole maize, 8s 6d per bushel. Hay, £4, ex store. Oats: Cartons, 3s to 3s 3d per bushel, sacks extra. Oyster grit, 6s per 1001 b. Straw: Oaten, £3 ss; wheaten, £3 per ton, ex store. Stocks held of lucerne meal. Belfast meal, and Crosskeys and Victory meat meals. Free use of fowl crates on application.—September 14.

• £ s. d. N.Z. Refrigerating (cent.) 0 9 0 Broken Hill Propy 3 18 0 SALES REPORTED Tooths Brewery 2 15 9 Mount Morgan 0 13 0 4 p.c. Bonds, 1937-40 (late (Sat.) ..101 17 6 4 p.c. Bonds, 1943-46 (late Sat.) 103 17 6 UNLISTED STOCKS New River .'. .. 0 0 81

age:— ,: BACKING Buyer. Seller. \ £ s. d. £ 6. d. N.S.W . 32 17 6 N.Z ... 1 19 0 w. Commercial ...... > .. 0 18 7 Natl of .N.Z. •.. 3 0 6 3 2 6 Natl. : of " A’asla 14 10 0 : INSURANCE ■ National ’.. .. .. 0 18 0 ■ Standard ,, .. .. , . — • 3 2 0 SHIPPING P. and!0. Def. Stk1 11 0 — •i . :. U.S.S.-Co. (pref.) 16 0 — MEAT .PRESERVING N.Z. Refrigerating 0 (paid)-: 'it.' — 1 3 N.Z. Refrigerating 0 9 0 (coni.) .... .. . if SouthFroz. Meat (paid). . . . ... 3 12 0 8 — South Otago Ffeez. 0 0 LOAN AND AGENCY Dalgety and Co., j* 9 5 0 Goldsbrouglv Mort Natnl.:- i Mortgage N.Z. Load- and M. 1 13 10 ■2 11 0 ■ , » 0 (ordd.‘\. .., . 33 0 N.Z. Guari Corp . -Oi; 5 7 '4’ 0 Perpetual Trustees ». 3 Wright, Stephenson (pref.), -v : 0 .18 6;. WOOLLEN COMPANIES Bruce (ord.) — 0 14 6 Kaiapoi" (ord.) .. — 0 16 0 Kaiapoi (cont.) .. ., — 0 6 7 MISCELLANEOUS Anthony Hordern — 0 19 0 Associated News -i- r 3 ■?4131 / • (pref.) --PiV Australian Glass-L fi _. Broken Hill Prdpy. 3 17, 9 — Brown, Ewing 0 16 (ord.) .. .. 9 — Brown, Ewing (pref.) .. .. 1 2 3 — Colonial Sugar .. 42; 10 0 t * Crystal Ice 2 5 0 Dominion Fertil7 . 3 iser .. .’. .. 1 0 Dunlop Perdriau V> / ffO ’18 fl Rubber .. .. 0 0 18 G. J. Coles .. . . 4 0 0 0 Hume Pipe .. ttO 19 6 1 0 Milburn Lime .. T~ •»2 3 0 Natl. Electric ;. f|3 15 0 13 0 N.Z. Drug Co. .. 0 — Farmers’ Fertiliser .... .. N.Z. Papet Mills Regent Theatre 1 1 0 ‘ 1 6 0 — 0 1 0 3 1 1 BREWERIES N.Z. Breweries .. — 6 2 13 6 2 15* — AUSTRALIAN MINING Electro. Zinc 2 3 0 (pref.) .. .. — Electro. Zinc ;(ord.) .. . • 2 : 0 9 2 2 0 Mount Lyell 1 8 10. 1 9 2 Mount Morgan .. 0 12 11 . 0 13 1 MINING Argo 0, 1 8 — Big River .. .. 0 1 9 0 2 3 Blackwater — 1 14 6 Central Shotover — 9 0 .4 0 0 5 Clutha River Cpnsol. Goldfields Gillespie’s Beach 0 1 0 15 +f0 1 0 17 0 1 0 7 Kildare .. <■. — u 6 Molyneux River 0 1 8| tto — Nemona ■ .. ' —r 1 1 JIU Okarito .-. v. — 0 a D Waimumu Slide- - Jng Waipapa Beach 0 0 0 10i 1 0 Waitanu .. .. 0 I

GOVERNMENT LOANS 3i p.c. Stock, Nov., 1938-52 ... .. 103 12 6 , 31 p.c. Stock, Mar., 1939-43 .. .. 103 12 6 3i p.c. Stock, Sep,, 1939-43 . , .. 103 12 6 —- ' 3i p.c. Stock, May, 1939-52 .. .. 103 5 0 3i p.c. Stock, Mar., 1941-43 .. .. 103 10 0 _ 3h p.c. Stock, Sep., 1941-43 103 10 0 3i p.c. Stock, May, 1941-52 .. .. 103 5 0 — 3\ p.c. Stock, Nov., 1941-52 .. .. 103* 5 0 4 pwc. Bonds, 193740 — 102 0 0 4 p.c. Stock, 193740 — 102 0 0 4 p.c. Bonds, 194346 103 12 6 — 4 p.c. Stock, 194346 103 12 6 4 p.c. Bonds, 194649 105 5 0 . 4 p.c. Stock, 194649 105 5 0 — 4 p.c. Bonds, 195255 .. .... 105 5 0 — 4 p.c. Stock, 195255 .. .... 105 5 0 — ** Ex dividend, ft Cum dividend. DIVIDENDS PAYABLE The following is a list of shares on which dividends will shortly be payabler— Adelaide Steamship — Final, 3J p.c., making 6 p.c. Sept. 15 Melbourne' Co-operative Brewery—Quarterly, at 20 per cent, per annum .. .. Sept. 15 Gillespie’s Beach — Id per * share Sept. 10 Apex Investment, Masterton —Interim, at 4 per cent. per annum Sept. 17 Huddart, Parker — Interim, pref., 3 per cent., ord. 3J per cent. Sept. 17 Broken Hill South—Quarterly, 2s 6d a share .. .. Sept. 18 N.Z. Drug. Co—Interim, 3| per cent. Sept. 21 North Broken Hill—Dividend and bonus, 5s per share ,. Sept. 20 Renown Collieries—Ord. lOd, final pref. at 7 per cent. .. Sept. 21 Auckland Farmers’ Freezing —6 per cent, per annum .. Sept. 25 Hume Pipe, Australia, Ltd.— 5 per cent, per annum .. Sept. 28 Mason, Struthers—3 per cent. Sept. — Lincoln Mills—Final, pref. 5 per cent,, and ord, 8 1-3 per cent. Oct. 2 Bank of Australasia—Interim, 3s 6d per share .. .... .. Oct. 2

£ s. d. Bonds, 1949, 4 p.c .. 105 17 6 Farmers’ Auctioneering (A , pref.) .. 1 2 6 Kauri Timber 3 10 Kalapoi (7s paid) .. .. .. 0 6 3 Elec. Mine (pref.) .. ,. .. 2 3 71 2 3 6 G. J. Coles .. 4 0 9 Mort’s Dock .. 0 12 0 N.Z. Newspapers (2) .. 2 0 0 2 0 2 , y - y 2 0 0 Woolworlh’s (N.Z.) .. 5 1 9 Mount Morgan (2) .. .. .. 0 13 0

Sales on 'Change Union Bank (late Sat.) . 9 10 0 Union Bank>(odd lot; date . Sat.) .. w 9 10. 0 G> J. Coles (late Sat.; odd lot) 4 1 0 Woolworth’s (N.Z.; late Sat.) 5 1 6 Inscribed Stock, 1941103 15 0 Commercial Bank of Australia .. 0 18 4 Bank of New Zealand (2) 1 19 5 Union Bank ,. r.- .; .9 10 0 Guarantee Corporation .. 0 5 7 ,N.Z. Insurance 3 2 6 Union Steam 1 6 6 Electrolytic Zinc (ord.) .. 2 1 0 Electrolytic Zinc (pref.) .. 2 9 3 3 4 q Mount Morgan 0 13 0

Commercial Bank of Australia . . .. 0 18 5 Goldsbrough, Mort 1 13 10 N.Z. Refrigerating (10s pd.) 0 8 11 British Tobacco (cum div.) 2 2 4 (2) 2 2 6 Broken Hill Pty 3 18 6 3 18 5 broken Hill Pty. (15s paid) 2, 16 6 Dunlop Rubber (cum div.; 3) .. 0 18 2 Blectfo. Zinc (pref.) .. .. 2 3 6 2 3 9 G. J. Coles (cum rights) .. 4 0 4 0 4 0 0 8 9 Wilcox Mofflin (cum div.) 0 12 6 Mount Lyell 1 9 1 . »-• Sales Reported Goldsbrough, Mort 1 14 0 N.Z. Refrigerating (10s pd.) 0 9 0 Broken Hill Pty. (15s paid) 2 16 6 N.Z. Newspapers (2) .. .. 2 0 2 fl 0 ? Mount Morgan (3) 0 13 0 Unlisted Stocks Selfridges (A’asia; old) .. 1 8 0

RUGBY, Sept. 12. Paris— Par Sept. 10. Sept. 12. Prsncs to £1 124.21 76 51-64 76 55-64 Brussels — 29.954 Belgas to £1 30 29.93 Oslo— 19.90 Kroner to £1 13,180 19.90 Stockholm— 19.394 Kroner lo £1 18.130 19.391 Copenhagen— Kroner to £1 isiiso 22 22 herlln— 12,58 Marks to £ 1 20.34 12.58 Montreal— 5,03% Dollars to £ 1 4.80 2-3 5.05% New York— 5.05 15-10 Dollars lo £ 1 4.86 2-3 5.051 Yokohama— 14 1-16 14 3-64 Pence to yen 24.582 Hongkong— n is-16 11 13-16 Pence to dollai 24.58 Bombay— ■ 1S4 184 Pence lo rupee — Batavia— 7.38i 7.384 Florins to £ 1 12.10 Milan— Lire to £ I 82.40 614 64 15-10 Amsterdam— 7.453 7.43J Guilder to £1 12.103 Prague— Kroner to £J 1044 122i 122 5-16 Genova— 13.53 Francs to £1 25.224 15.524 Vienna— SchilllDES to 262 2GJ £1 .. .. 84.804 Helsingfors— 193.23 227 Marks to £1 227 Madrid— 574 584 Pesetas to £ 1 23.224 Belgrade— 221 221 Dinars lo £1 25.224 Athens— Drachma to 530 531 £1 .. .. STS Lisbon — Escudos to 110 3-16 110 3-16 £1 .. .. no Bucharest— 677 677 Lei to £1 .. 031.6 Rio de Janeiro— Pence to 44 44 mllrels .. 5.890 Buenos Aires— 30 36 Ponce to pesos 47.22 Shanghai— Pence to tael \ 14 5-16 14 5-16 Montevideo— 384 384 Pence to pesos — Warsaw— 26.75 26.75 Zlotys to £1 —

fil N.Z. to £100 «ts r.T. 124/-/- • 124/10/0 0. 123/10/124/8/9 Australia— £ A to £100 N.Z. T.l. 160/10/0 D. 101/-/-, 100/10/FIJI- , £ F to £100 N.Z. T.T. 00/7/6 89 O.D 90/7/6 89 New Tons— ... Dollar* to £ N.Z. T.T. 4.09Va 4.05J O.U. 4.10% 4.06 Montreal— Dollars to £ N.Z. r.T. 4.09 4.03J O.D, 4.10i 4.06 Austria— Shilling* to £ N.Z. .. .. T.r. — 21.08 O.D. — 21.10 . Belgium— Belga* to £ N.Z. T.T. —“ 23.930 O.D. — 23.941 CzechosldraKla— Cronus to fi N.Z. T.T. — 97.23 O.D. — 97,28 Denmans— Kroner to £ N.Z. T.T. 18.203 17.893 O.D. 18.263 17.003 France— Francs to £ N.Z. T.T. — 61.47 O.D. — 81.51 Germany— J Reichsmarks to £ NZ .. .. T.T. — 10,027 O.U. —-• 10.032 Holland— Florins to £ N.Z t.r. — 5,038 O.D. — 5.042 Italy— Lire to £ N.Z. t.T. — 51.45 0.0. — 51.50 Ia»a— Florins to £ N.Z t.T. 5.906 O.D. •— 5.910 Norway— Kroner to £ N.Z r.x. 16.181 15.891 O.D 16.241 15.901 Sweden— Kroner to £ N.Z. IVi 15.785 15.49U OD 15.845 13.500 ■Hvlizeriand— Francs to £ N.Z 1 1 — 12.377 O.D. — 12.382 Noumea— Francs to £ N.Z r.x. 60.10 t) I). — 00,16 I'apeete— Francs to £ N.Z 1.1. : _ 60.25 O.D. — 00.31 Hongkong— N Z pence to 1 dollar .. .. r.T. 17 55-64 18 55-64 0 D IT 49-64 18 53-64 India and Ceylon— N Z pence to 1 rupee ,, T.T. 22 0-61 22 57-B1 O.D 22 3-64 22% lapan— N.Z. pence to 1 yen .. r.T. — 17 41-64 O.D — 171 Shanghai — N Z, pence to 1 dollar •• T.T 17 9-32 18 9-32 O.D 17 3-32 18 17-64 SingaporeN.Z. pence to 1 dollar .. r.T 34 27-64 35 31-64 O.D 34 15-64 35 15-32 All rates subject to alteratlou without notice

Selling— U.S.A. Canada (Per £ (Per £ N.Z.) N.Z.1 Dols Dols T.T .. .. 4.05i 4.058 O.D .. .. 4.06 4.06^ Buying— O.D .. .. 4.10J 4.108

Chilled beef (qrs.) 1936, 1935. 137,095 61,245 Frozen beef (qrs.) ’ 188,055 337,038 Wethers (carcasses) 1,020,320 795,626 Ewes (carcasses) .. 330,202 697,907 Lambs (carcasses) • 4,374,375 4,437,466 Porkers (carcasses) 424,884 402,118 Baconers (carcasses) 201,028 140,159 Boneless beef (ft. c/s) 359,765 291,331 Sundries (ft c/s) 347,583 319,572 SOUTH ISLAND Chilled beef .. .. — 2/)28 Frozen beef .. .. 1,504 Wethers 123,974 153,700 408,345 499,659 Lambs .. .. .. 4,414,863 4,401,799 Porkers 26,160 21,058 Baconers 13,900 12,620 Boneless Beef 49,495 40,004 Sundries 120,233 87.085 TOTAL Chilled beef .. .. 137,095 01,245 Frozen beef .. .. 189,559 339,066 Wethers .. .. .. 1,144,294 949,332 738,547 1,197,566 Lambs 8,789,238 8,839,265 Porkers 451,044 423,170 Baconers 214,988 152,779 Boneless beef 409,260 331,335 Sundries 467,816 406.057 Stocks on hand in stores in New' Zealand on August 31 (compared with the same date last year) were: 1936. 1935, Chilled beef (qrs.) 2,546 — Frozen beef (yrs.) 47,159 72,509 Wethers (carcasses) 175,190 107,756 Ewes (carcasses) .. 169,461 213,794 Lambs (carcasses) 262,776 147,813 Porkers (carcasses) 58,483 32,534 Baconers (carcasses) 4,227 6,282 Boneless beef (ft. c/s) Sundries (ft. c/cs) 66,559 99,908 73,184 95,705

Commonwealth Bonds33 per cent., 1951 4 per cent., 1938 Commercial Bank of Sydney Tooth’s Associated News (pref.) .. British Tobacco Broken Hill Pty. (new) .. Electrolytic Zinc Goldsbrough, Mort James Stedman . ) Mark Foy Peters Sargents 98 8 102 7 19 17 2 16 1 3 2 3 2 17 2 2 1 14 0 18 1 13 2 2 1 9 9 6 0 6 3 0 6 0 3 3 9 6 0 ADDITIONAL SALES Bank of New South Wales Commercial Bank .. .. United Insurance .. .. Colonial Sugar .. .. ’ .. Associated News (pref.) .. Howard Smith 33 2 19 19 10 13 43 7 1 3 0 19 6 0 0 6 3 3 British Tobacco .. .. Tooths Tooheys Queensland Brewery G. J. Coles Drug Houses ., < .. 2 3 2 16 1 12 1 4 4 2 1 14 0 9 0 0 0 44 3 3 7 Australian Glass Goldsbrough, Mort v .. Wilcox Molflin .. .. 4 14 1 14 0 12 Henry Jones 2 2 9 Lustre Perpetual Trustee Australian Gypsum .1 4 4 17 0 19 0 18 9 6 3 44 0 0 0 0 5 6 Stedmap .. ..... Taubmans Union Theatres (pref.) William Adams .. .. United Provisions Hoyts (A pref.) 0 18 3 10 0 15 0 12 0 12 n in Hackshalls Sargents Australasian Paper General Industries Mount Morgan 0 15 3 1 9 0 1 14 0 0 19 74 0 12 11 Mount Lyell' Broken Hill Proprietary South Broken Hill Emperor Taranaki Oil Tanah Bijl Mandated AUuvials .. 1 9 3 3 19 6 6 4 0 0 15 li 0 1 1 0 19 9 1 11 10

ing. British Tobacco .. .. £ s. 2 3 d. 0 G. J. Coles 4 2 6 Drug Houses .. .. 1 11 0 Australian Iron and Steel (pref.) * 1 6 6 Australian Glass .. .. 4 14 3 Dunlop Perdriau .. .. 0 18 5 Dunlop Perdriau (pref.) Goldsbrough, Mort 1 15 0 1 14 6 Electrolytic Zinc 2 2 3 Victoria Nyanza * .. 0 13 0 Mount Morgan .. .. 0 13 1 Mount Lyell 1 9 4i Broken Hill Proprietary 3 19 9 Emperor 0 15 1 Loloma 1 4 6 General Motors .. .. 1 4 3 Gordon and Gotch 2 11 0 Herald and Times 3 8 6 Hume Pipe 0 19 10 Myers 1 15 4* Upper Watut .. .. 0 2 8 Sulphide Corporation 0 16 9