COMMERCIAL

Otago Witness, Issue 4030, 9 June 1931, Page 24

COMMERCIAL

LONDON STOCK EXCHANGE. LONDON, Juno 4. The following are the latest quotations tor Government securities compared with the prices ruling last week: —

FOREIGN EXCHANGES.

LONDON METAL MARKET. LONDON. June 4. (Received June 5, at 10 p.m.) Following are the official Quotations in the metal

Silver, fine • • •• •• 1- 5-lGd Fall 1-lGd Silver, standard •• •• 13*4 d Fall 1-lGd BANK OF ENGLAND RETURN LONDON, June 4. The following is the Bank of England return: — ISSUE DEPARTMENT. Note issue in circulation .. £356,370,794 Banking department 55,505,035 £411,875,829 Government debt. . £ 11,015,100 Other Government securities 233,179,212 Other securities 11,706,731 Silver coin 4,098,957 Gold coin and bullion .. .. 151,875,829 . £411,875,829 BANKING DEPARTMENT. Proprietors’ capital £14,553,000 Rest 3,242,142 Public deposits 6.545.145 Other deposits (bankers) .. 72,209,262 Other accounts .. .. 33,920,404 Seven-day and other bills .. 6,080 £130,476,033 Government securities .. .. £38,495,906 Discounts and advances . .. 7,106,080 Other securities .. 28,310,773 Notes in reserve .. .. .. .. 55,505,035 Gold and silver coin .. .. 1,058,249 £130,476,033 The proportion of reserve to liabilities is 50.10 per cent. Shortjoans are quoted at 2 per cent.; three months’ bills at 2 3-32 per cent. LONDON STOCK EXCHANGE LONDON, June 2. Dalgety and Co. shares, £5 ss; Dalgety and Co. 4 per cent, debentures, £66. BRADFORD TORS MARKET

LONDON, June 4. Bradford is quiet. Quotations are nominal ’and irregular; 70’s, 25d; 64’s, 22d; 60’s, 21d; 56 ? 5, 14d; 50’s, 12d; 46’s. 9Jd; 40s, 9|d.

PRICE OF FINE GOLD LONDON, June 4. Fine gold is quoted at £4 4s llfd per ounce. NEW ZEALAND APPLES LONDON, June 3. The Rangitata’s New Zealand apples realised:—Jonathans, 12s to 14s; Delicious, Ils to 13s; Sturmers, Ils 6d to 13s; Statesmen, 13s to 14s; Romes, 12s to 12s 6d. NATIONAL MORTGAGE COMPANY LONDON, June 5. The National Mortgage and Agency Company of New Zealand has declared an interim dividend of 5 per cent., tax free. LONDON MARKETS LONDON, June 5. Friday’s closing prices. were as under:— Cotton: July delivery, 4.66 d per lb. Rubber: Para, 4Jd; plantation smoked. 3Jd. Jute: June-July delivery, £l6 7s 6d. Hemp: May-June delivery, nominally £2O per ton. Copra: June-July South Sea shipments, £lO 5s per ton; plantation, Rabaul, £lO 7s 6d. Linseed oil, £l6. Turpentine, 46s 3d per cwt. ’ Frozen meat: New Zealand sheep, Canterbury and North Island, selected crossbred wethers and maiden ewes, 481 b to 561 b, s:]d; ditto, 571 b to 641 b, sd; ditto, 651 b to 721 b, 4§d; North Island, 481 b to 561 b, sd: ditto. 571 b to 641 b, 4£d; ditto, 651 b to 721 b, 4Jd; ewes under 481 b, 4?d; ditto, 481 b to 641 b, 4d; 651 b to 721 b 3fd. Australian sheep: First quality crossbreds and/or merino wethers, 401 b to 651 b, 4d; second quality, 301 b to 551 b, 4d; ditto ewes, 301 b to 551 b 4d. Argentine sheep: First quality crossbred wethers, 481 b to 641 b, 4Jd; ditto, 651 b to 721 b, ditto, over 721 b, none offering. Patagonian sheep: Wethers and/or maiden ewes under 501 b, 4Jd; ditto, 501 b to 601 b, 4)d; ditto ewes, 401 b to 501 b, 3|d. New Zealand lamb: Canterbury, 361 b and under, 73d; ditto, 371 b to 421 b, 7§d: ditto, 431 b to 501 b, 7}d; second quality, average 301 b, 6£d; other South Island brands, 361 b and under. 7gd; ditto, 371 b to 421 b, 7)d; ditto, 431 b to 501 b, 7|d; selected North Island brands, including Downs. 361 b and under. 8d; ditto, 371 b to 42Jb, 7|d; ditto, 431 b to 501 b, 7£d; second quality, average 301 b, C|d; other North Island brands, first quality, 361 b and under, 7)d; ditto, 371 b to 421 b, 7Jd; second quality, average 301 b, 6|. Australian lambs: Victorian first quality, 361 b and under, 6?d; ditto, 371 b to 421 b, 6£d; other States, first quality, 361 b and under, s|d; ditto, 371 b to 421 b, s|d; Victorian second quality, 361 b and under, 6Jd; other States second quality, 361 b and under, 6d; all States third quality, 6d; Argentine lambs: First quality, 361 b and under, 6]d; ditto, 371 b to 421 b, 6d; ditto, 431 b to 501 b, 6Jd. Patagonian lambs: First quality, 361 b and under, 6d; ditto, 371 b to 421 b, sfd; second quality, average 301 b, sfd. New Zealand frozen beef: Ox fores and ox hinds, none offering. Australian frozen beef: Ox crops, under -1001 b, 2d; ditto, ove r 1001 b, 2Jd; ox hinds, under 1601 b, 3d; over 1601 b, 3|d. Argentine chilled beef, ox fores, 1601 b to 2291 b, 21d; ox hinds, 1601 b to 2201 b, 6Jd. New Zealand pigs: First quality, 601 b to 1101 b, average 901 b, s)d; ditto, 1111 b to 1201 b, sjd.

AUSTRALIAN PRODUCE SYDNEY, June 6. An agreement to stabilise freights for' the carriage of Australian produce overseas at the present levels for a further period of 12 months from June 30 next was reached by a -conference of the Australian Council of the Australian Overseas Transport Association. AUSTRALIAN MARKETS SYDNEY, June 4. Wheat: Ex trucks, Sydney, 2s 4d; country stations, Is 9d. Flour £lO 10s. Pollard £4. Bran £3 10s. Potatoes: Tasmanian £5 10s, Victorian £5 ss. . Onions: Victorian £5. Oats: White 2s 6d, Algerian 2s 3d. Maize 3s 7d. ADELAIDE, June 4. Wheat 2s 2d. Flour £6 17s 6d. Pollard £4 10s. Bran £3 15s. Oats: Algerian Is 6d. HUME STEEL COMPANY WELLINGTON, June 4. The. directors of the Hume Steel Company, Ltd., have decided not to pay an interim dividend.. GOLDSBROUGH MORT WELLINGTON, June 7. The Goldsbrough, Mort Company advises that, subject to the audit, the directors propose to recommend a dividend of Is per share, payable at Melbourne. 'SHEEPSKIN SALE The Dunedin Woolbrokers’ Association (The New Zealand Loan and Mercantile Agency Company, Ltd., Dalgety and Co., Ltd., National Mortgage and Agency Company, Ltd., Otago Farmers’ Co-opera-tive Association, Ltd., Donald Reid and Co., Ltd., Stronach, Morris and Co., Ltd., Wright, Stephenson and Co., Ltd.) report as follows: — The fortnightly sheepskin sale was held on Tuesday when small catalogues were offered to a full attendance of buyers. Competition was fair and values ruled on a par with last sale’s rates. The following is the range of prices realised;— Merino full wool, 4}d; halfbred full wool, sjd; halfbred half wool, 4Jd; halfbred quarter wool, 3Jd; fine crossbred full wool, 41d; fine crossbred half wool, 3Jd; fine crossbred quarter wool, 3d; crossbred full wool, 4|d; crossbred half wool, 4d;

crossbred quarter wool, 2|d; fine crossbred hogget, 4|d; crossbred hogget, 4|d; dead hogget, halfbred dead, 4|d: crossbred dead, 3|d; best lambs, 4|d; first pelts, 2d; medium pelts, Id. LORNEVILLE STOCK SALE INVERCARGILL, June 2. Prices all round showed little change from last week’s rates at the weekly Lorneville stock sale to-day. Fat Sheep.—Best freezing lambs brought up to 16s; medium, 14s to 14s 6d; light and unfinished, from 12 s to 12s 6d; extra prime wethers, up to 16s 6d; prime, from 14s to 15s 6d; lighter freezing wethers, from 12s to 13s 6d; ewes of extra prime, sold up to Us 3d; good butchers’ ewes, from 9s to 10s 6d; freezing ewes, from 7s to 9s. according to quality; light and inferior, from 5s to 6s 6d. Store Sheep.—There was very little demand, with the result that prices were hardly on a par with those realised at recent sales. Fat Catfle.—Good prime bullocks sold nt from £9 to £lO 10s; medium weights, from £7 to £8; lighter sorts, from £5 10s to £6; prime handy-weight heifers brought £6 to £7; light-weights, from £4 10s to £5 10s; extra prime heavy cows, up to £8 12s 6d; prime medium-weights, from £5 to £6; aged and poorer-conditioned sorts, from £3 to £4; extra good runners realised £4 to £5; poorer quality vealers, from £1 to £1 7s 6d. Store Cattle.—The demand was limited, with the result that prices were hardly up to recent rates. HUME PIPE COMPANY WELLINGTON, June 4. The directors of the Hume Pipe Company, Ltd., recommend a dividend of 10 per cent, per annum for the half-year ended March 31 and a bonus of 5 per cent, payable on June 23. SAVOY MINIATURE GOLF LINKS The full equipment of the Savoy Miniature Golf Linkes was offered for sale bj auction at the Savoy Buildings yesterday by Messrs J. M. Samson and Co. There was only a small attendance, and no bids were received.

HORSE SALE PRICES SHOW SLIGHT DECREASE. Keen interest was evinced in the sale of horses conducted by Messrs Wright. Stephenson, and Co. last week, but although the quality of the animals forward was good and the attendance of buyers strong, prices decreased by about £5 as compared with those ruling at the same fixture last year. During the two days 230 horses were offered, Thursday’s offering consisting solely of draughts, of which 110 were forward. These could be classed as an especially fine lot. The demand was keen, and the majority of the entries was sold at rates at an average of about £5 below the prices ruling last year. Included in the offering was an especially good consignment ot mares from Southland, but the values for these were rather disappointing, ranging from £35 to £45. The principal demand appeared to be for good young draughts suitable to go into work, and for these there was good competition, values ranging from £33 to £3B. No outstanding heavy geldings were forward, the majority of entries being classed as good medium sorts. At Friday’s sale further country consignments were forward, but these were not of such good quality as those before buyers on Thursday. They met with a better demand, however, and practically the whole catalogue was cleared at prices which showed an advance on those of the previous day. There was the usual num her of hacks and harness horses forward, but these were not keenly sought after, and values were very low in comparison with those ruling of late. Mr James Kenyon (Merton) had a fine consignment of three-year-old unbroken geldings forward, and these sold at from £33 to £37 10s. Mr M'Callum (Goodwood) also had a good consignment of young horses, these being disposed of at from £34 to £36. On account of Messrs A. J Robertson, James Tindall, A. Cameron. R. Cumming. John Allan, Kemp Bros., J. Taylor, R. Yardley, C. Hall, A. C. Goodlet, J. T. James, R. E. Ellison, J. O’Connell, and the Bushey Park estate, geldings and young mares were sold at from £33 to £36 10s. ASSOCIATED LIVE STOCK AUCTIONEERS WELLINGTON, June 4. The merger of the Associated Live Stock Auctioneers, Ltd., has been registered under that title. The board of directors comprises Mr R. S. Abraham (Messrs Abraham and Williams, chairman), Mr W. S. Bennett (Dalgety and Co., Ltd.). Air C. Al. Bowden (Wairarapa Farmers’ Co-operative Association), Air W. T. Esson (New Zealand Loan and Alercanti'e Agency Company), Air W. D. Hunt (Wright, Stephenson, and Co., Ltd.), Mr George Pearce (Levin and Co., Ltd.), Sir Alexander Roberts (Alurray, Roberts, and Co.). At a meeting of the board Air S. R. Thomson, of Alessrs Abraham and Williams, Palmerston North, was appointed manager COMPANIES REGISTERED The registration of the following companies is reported in the New Zealand Mercantile Gazette:—

Grant’s Exchange Pharmacy, Ltd.— Registered as a private company, Afay 25, 1931. Capital: £660, into 660* shares of £1 each. Subscribers: Dunedin—H. D. Marshall 220, H. H. F. Grant 100, H. L. Boock 340. Objects: Chemists, druggists, drysalters, opticians, etc. Budget, Ltd. —Registered as a private company. May 26, 1931. Capital: £2BOO, into 2800 shares of £1 each. Subscribers: Dunedin—G. Davis 2100, A. E. Payton 700. Objects: To take over business of The Budget, Ltd., printers, publishers, lithographers, electrotypers, engravers, bookbinders, stationers, etc., publishers. Haugh and Beattie, Ltd.—Registered as a private company, Afay 26, 1931. Capital: £2OOO, into 2000 shares of £1 each. Subscribers: Dunedin—B. H. Haugh, A.

Beattie 1000 each. Objects: To take overbusiness of Haugh and Beattie, land agents and builders. National Sound Films (N.Z.), Ltd.—KeK'stered as a private company, Alay 26, 1931. Capital: £lOO, into 100 shares of £l’ So t a ~s erA b ers: Dunedin—J. Welsh ni’ • MacDonald 31, G. J. Barton 20.. Objects; io produce motion pictures in sound, to carry on business of motion, picture producers, distributors, and ven' dors. ’ DISPERSAL OF ROMNEY FLOCK: n . '■ FEILDING, June 4. Owing to continued illness Air E. E. bhort, owner of the Alahua stud Romneytlock, is giving up breeding and will dis' pose of his flock. He is a noted breeder, having built up an export trade in Roni' neys with the United States. Mexico* Clnle Argentina, Uruguay, the Falkland. Islands, South Africa, and Australia. For several years his sheep have won grand championships at the Sydney sheep show.

I-ast week. £ 8. d. This week £ i. d. Imperial Consols. 2% p.c. . 6J) 5 0 60 0 0 War Loan. 5 p.c.. 1929-47 . 102 12 6 103 0 0 Conversion Loan. p.c. . 83 7 G 84 10 0 Victory 4 p.c . 97 18 6 98 5 0 C’wealth 6 p.c.. 1931-41 . 77 0 0 74 0 0 "wealth 8’.4 p.c.. 1922-27 . 67 7 G 63 10 0 N.Z. 6 P.O.. 1939-51 . LOO 15 0 100 10 0 N.Z.. 4 P.C.. 1929 .. .. . 86 5 0 82 0 0 N.Z 3U p.c.. 1940 . 84 5 0 79 10 0 N.Z. 3 p.c.. 1945 .. .. . 74 0 0 70 0 0 N.S.W 014 PC.. 1930-40 . 70 5 0 70 0 0 N.S.W 6 p.c.. 1930-40 .. . 65 0 0 65 0 0 N.S.W. 5% p.c.. 1922-32 . 61 0 0 57 0 0 NSW. 4 p.c.. 1933 .. . GO 10 0 55 0 0 N.S.W 3% p.c.. 1930-50 . 54 0 0 48 10 0 N.S.W. 3 p.c.. 1935 .. . 40 10 0 35 0 0 Vic 614 P.c. 1930-40 .. . 55 0 0 50 0 0 Vic. 6 p.c.. 1932-42 . 50 0 0 50 0 0 Vie 4% p.c.. 1940-60 .. . 75 0 0 75 0 0 Vic. 3'z4 p.c.. 1929 49 .. . 42 5 0 43 0 0 Vic. 3 p.c.. 1929 40 .. . 41 10 0 38 0 0 Q’land 6 p.c. 1930-40 . 76 0 0 78 0 0 Qiana 5 p.c.. 1940-60 . 5G 5 0 50 0 0 Q’land 3 n.c.. 1922-47 . 42 10 0 41 10 0 8.A. 6',4 P.C.. 1930-40 .. . 76 10 0 73 10 0 8. A. 334 p.c.. 1939 .. . 50 0 0 45 0 0 S.A. 3 p.c., 1918 oi after . 37 0 0 40 0 0 W A 6 p.c.. 1930-40 .. . 71 0 0 70 0 0 W.A 314 P.C.. 1920-35 . 70 0 0 G5 0 0 W.A. 3& P.O.. 1915-30 . 61 0 0 63 0 0 Tas. 0% P.O.. 1930-40 .. . 77 0 0 7G 0 0 Tas. 314 p.c.. 1920-40 .. . 58 0 0 50 0 0 Tas. 3 p.c.. 1920-40 .. . 57 0 0 48 0 0

Par. RUGBY. June 4. May 28. June 4. Paris, fr to £1 .. 124.21 124.27% 124.24% Brussels. Helgas to £1 35 34.91% 34.92% Oslo, kr to £1 .. IS.150 18.16% 18.16% Stockholm. U to £J 18.150 18.14% 18.15% Copenhagen, kr to £1 18.150 18.16% 18.16% Berlin, marks to £1 20.43 20.48 20.5 Montreal, do] to £1 4.80 23 4.86 1116 4.87 New York, do) to £1 4.86 2-3 4.80 7-10 4.86 21-32 Yokohama. pence to fen 24.58 24 18-32 I 24% Hongkong, pence to do) 25.15 11% 11% Bombay pence to rupee 18 17 25-32 ! 17% Batarla. florins to £J 12.107 — — Milan, lire to £1 92.45 92.94% 92.95% Amsterdam, guild to Cl 12.107 12.09% 12.09% Prague, kr to £] 24.02 104% 164% Genera, kr to £] 25.22% 15.16 25.08% Vienna, acbllllt.gs to a 24.56% 34.60% 34.62% Helsingfors, marks to £1 193.334 193% 193% Madrid, pesetas to £1 25.22% 52.8 50% Athena drachma to £J 25.22% 375 371 Lisbon, escudos to £1 4.50% 108.25 110% Bucharest, lei to £1 .. Rio de Janeiro pence 973 817 817 to milrela .. .. Buenos Alrca. pence to 18 3% 3 9-16 pesos 47.82 33 9-16 33% Shanghai, pence to tael 23% 13% 14

market:— Ton. Copper, spot £34 1 3 Fall £0 15 7% Copper, forward .. 34 13 9 Fall 1 10 10H Electrolytic, spot .. 38 0 0 Fall 2 0 0 Electrolytic, forward 39 0 0 Fall 1 10 0 Wire bars .. 39 0 0 Fall 1 10 0 Lead, spot .. .. 10 7 6 Fall 0 8 VA Lead, forward • • 10 15 0 Fall 0 7 6 Spelter, spot .. 9 13 9 Fall 0 5 0 Spelter, forward .. 10 6 3 Fall 0 3 9 Tin. spot .. .. 100 6 3 Fall 0 7 0 Tin. forward .. . ■ 102 1 Oz. 3 Fall 0 2 6