FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 741, 14 August 1929, Page 10

FINANCE & MARKETS

Bank of NZ. Firming

Union Bank Improve

By

“Noon Call.”

CUNSIDERABLE business is being registered on 'Change and prices are well maintained. Bank of New Zealand have improved to sales 6233. leaving the market firm. Union Bank of Australia have buyers at £ls ls, shares unoflered.

Yesterday afternoon's business—oll?: 'L‘hange: Bank or New Zealand, £3 35. 3' Reported; Union Bank of Australiafl £ls is; Union Bank of Australia. Melbourne register, £ls 23 6d: “‘aipa: Goal, 149: New Zealand Goi’ernmentk‘ \V‘nr Loan, 1930, 4; per cent, £99 55-, i‘ New Zealand Breweries (debf). £1 8: #1 LIL ; ' Business at this morning‘s early can. [I ~ Reported: Kauri Timber, 185; Ohine- ‘ muri Gold and Silver. 105 3d. I Business at today's midday cali.—, (In ’Change: New Zealand Insurancai £2 73 6d; ‘Vilsons Cement. £2 43 Gd: " \Vaihi Gold Mining Co., 125 2d. Re-l pqrted: Bank of New South “‘alesh‘ £52: :Kauri Timber. 188; British Tobacco. £2 83 6d; Waihi Gold Mining (‘o,, 123 2d. . I I Banks remain popular with inves—tors. and numerous transactions are: being recorded. Commercial of Aus-q trans. and New South “'ales are re-' ceiving considerable attention. I . - . Loan and Agency section is active.‘ Abraham and \Villiams, and Farmers" Auctioneering. are both in demand: (:oidsbrough Mort are inclined to firm. River Plate remain steady. Guarantea Corporation have many inquiries,l

and remain firm. Loan and Miercan-y‘ tile, both issues, have eager buyers. ‘l I Little business is being reported in} tho coal section. although shares re—l main very firm. Grey "alley arei steady. Hikurangi, all three issues,‘ are advancing. shares being scarce.‘ I'ukemiros are exceptionally firm. Re- 1 nown have eased slightly. Tauplri and ‘ “'estport are both firm. - l t l . All local body debentures and Government securities are scarce. and a keen demand still exists for this class of investment. In 0 O Dividends Due Due. Dominion Investment A, B and C shares .. .. Today. \‘ictorla Nyanza Sugar Co., Ltd. —-Interim dividend 0: 7a p.c. (ls 6d a. share) .. .. .. .. Aug. 31. “'ellington \Voollen—lO p.c. p.a. Aug. Bank New South “Vales—lo 9.0. p.a. (lnt.).. .. .. .. .. Aug. 27. Standard Insurance—Final dividend of 13 3d. a share .. .. Sept. 3. Electrolytic Zinc—6 p.c. ord. and pref. (final) .. .. .. .. Sept. 6. Holden‘s ‘Motors—ls a. share ord. (final). making 10 13.0. 1).:1. and. 8 p.c. A and B pref. Sept. 11

TODAY’S QUOTATIONS

__________——-——-——— Clnsing quoiations at today's mid-day call were:—

NORTHERN WAIROA DAIRY CO.

ll‘rom Our Own Correspondent) DARGAVILLE, Tuesday. The dairying season has opened well in the Northern “mum. and the North—vrn “'alroa Co-opcrative Company‘s figures (or butter-fat received and advances made show a slight advance over those of last season. For the two months vndod July. thr- amount of butter-fat rc~ . aired was 108.7141 b, against. 108.1501!) for he same period in 1328. The advance (or last month‘s supply otala $3,482 115:, against. £3,155 135 611 or July. 1928, and for the two ncnths of the season. £7,700 115 9d, Ig'ainst__'£.7.397 63_ 9d._ _ >

In addition to the July gay-out suppliers will receive £26,448 1 s by way or A further payment on last season's supnaies and dividend.

KAIKOHE DAIRY COMPANY

(From Our Own Correspondent) ' KAIKOHE, Tuesday. The annual meeting of the Kaikohe Val-operative Dairy Company was held at Kaikohe yesterday. There was a. flood attendance of shareholders. Mr. Guy, chairman of directors. reported that good progress was being made with all the buildings, installation] of machinery and the supply 0! water. The factory would be ready to receive cream toward the end of the month. The election of directors resulted in Messrs. C‘. Edwards. G. Lindo Fergusnn. 'i‘. Guerin. H. 1“. Guy. H. K. lintrick. H. M. Rockell find .7. Routiey. the provisional directors. being elected. Mr. Guy was elected chairman.

DALGETY AND COMPANY

(Australian and All. Press Association) Reed. 9.20 a.m. LONDON, Tuesday. Dalgety and Company shares are quoted at £l4 155, and 4 per cent. debenture stock at £74.

ARIA DAIRY COMPANY

. (From Our Own Correspondent) TE KUITI, Tuesday. The Aria (Jo-operative Dairy Company, Ltd, has every reason to be satisfied with the past year's operations, the report presented at the annual meeting of supplier:- held on Saturday disclosing a. satisfactory financial position, together with an increased output. The season's manufacture of butter amounted to 224 tons, an increase of 55 tons over last year's total. The gross pay-out per lb. butter-fat was ls 6.173 d, and after deducting cartage the net amount was Is Sid. Interest at the rate or 6 per cent. was also paid on the paid-up capital ot' the company. The Chairman of directors, Mr. J. Coilins, congratulated the shareholders on the results achieved, which were equal to. if_not better than, any factory of its size in the Dominion. The prospects for the looming season were bright, and it was :xntic-ipated that they would have supplies from at least 800 more cows. In order to cope with the ragwort nlenare arrangements had been made to advance money to suppliers to buy sheet), on the understanding that suppliers would not reduce their dairy herds. The ballot for three directors resulted as follows: Messrs. A. R. Keighley, J. Nir‘ol and H. F. Kirk. An application to the company by the 1110:}! member of the “’aitomo County Count-ll for a grant of £IOO toward metalling Potaka Road was discussed at length. when it was stated that the com—pany would save £IOO yearly on cartage alone, as Well as increasing the number at suppliers, 1!? this necessary work was completed. It was finally decided to make the desired grant.

GREY AND MENZIES, LTD.

The balance at profit and loss account of Grey and Menzies. Ltd., for the year ended June 30, amounts to £3,654. The directors propose payment of a dividend of 8 per cent. on both preference and ordinary issues. The company. which has a. capital of 3227.000, including £5.000 in preference shares. increased its dividends to S 'pei‘ vent. last year. Previously it had paid 7:: per cent. The retiring directors, Messrs. Barstcw and Ryan. offer themselves for 1‘?election. and the auditors. Messrs. \V_'ailace. Bruce and Duthie. seek re-appomt-meat.

REFLECTIONS ON CHANGE

Nl. MARKETS REVIEWED GILT-EDGE srocxs FIRM By "NOON CALL" One of the most important announcements of the week in financial circles came from New York in the cabled report that the Federal Reserve Bank had increased its rediscount rate by one per cent. This has not yet been reflected on the New Zealand market, nor is there any tangible evidence of it having been felt in London, but it will undoubtedly help to weaken the overseas gilt-edge market; this, in course of time, un—less immediately righted, will be reflected in New Zealand. London at the moment has little Cause to \\ orry at happenings in L'.S.A.. as any outflow of gold reserves from the Bank of England just now is going to the Continent. The raising of the rate in New York may be just the additional touch necessary. however, to bring about. an increase in the bank rate in London. From the point of View of the colonial borrower desiring to go on the market for funds, the financiel situation is not bright, nor are there any signs of an improvement in the near future.

Dominion's Gild-edge Market E The gilt—edge market Within the Do— E n‘iinion remains very firm. During the! week 4} per cent. free of income to.:;' Government loans touched new recentl high levels at prices bringing in slightly under £4 10s per cent. Sell-g ers are hard to locate. and there appears to be a. big surplus available forl investment in this class of security. I One of the principal reasons for the strength of the market is scarcity of! new issues of capital in first-class in-l _vestments. At the moment there is al wide range of new fiotations available to the pub'iic. but for thc mos: part‘ they cannot be termed a satisfactory investment. This applies particularly‘ to many of the schemes being hawlicd round the. country districts. On N.Z. ’Changes A comparatively heavy volume of business in tested securities continues‘ to flow through New Zealand Exchanges. All the better class stocks meet with a steady demand on a firmf market. 1 The banking and insurance groups are quiet, but healthy trading is re-l corded. The general tendency is for prices to hold on late levels. Onc ori two stocks appear to be demanding higher prices than circumstances and; prospects warrant: in this class must‘ be included Bank of New Zealand and New Zealand Insurance shares. The Loan and Agency group has a healthy tone, most shares meeting with a steady demand. NZ. Guarantee Corporations S]lo\V a. tendency to move to slightly higher levels, as the end of the company’s year approaches. The balance-sheet due next month should show a. very satisfactory posi—tion. The market for Goldsbrough, Morts has shown increased strength, moving up 9d to 485. Goals have a quieter tone. Pukemiros are sought on a. very firm tnarket, but with. a wide margin between buyers' and sellers’ ideas of value; no sales have been recorded. VVaipas weakened . over the period to sell in the South at 135 (id, but recovered slightly yesterday, when sales were nlade at 145 on the Auckland market. The miscellaneous group showa little movement, and business over the week has been confined mostly to shares promising a comparative high immediate return.

Return on Investment Below is a. summary of sales made on ’Change during the week ended August 13. giving the approximate return on investment based on the latest divi—dend. In the case of Government securities the return includes redemption. 7 » .__. A ”W“.

NEW ZEALAND APPLES

SALES IN ENGLAND The New Zealand Fi‘uitgrowers’ Federation. Limited. has received the fol—lowing cablegram from Mr. H. E. Stephens, Fruit Control Board representative in Englandz—There were excellent sales at Glasgow and Liverpool for the Huntingdon‘s fruit. Dougherty’ and Statesman made 185 to 225 a. case: Deli—cious, 175 to 21$: Sturmers, 14s to 205: Ballarats. 115 to 165: Jonathans. \vasty, 45 to 65. Glasgow sale. ex Cambridge: Fruit forward anti wasty: prices about is lower. London sale, ex l’o'rt Nicholsun: Opening sales good. but market weakening. The Huntingdon's fruit was shipped from Auckland, while the Port Nicholson and Cambridge cargoes were bolh Southern loadings. There were only 150 cases of Jonathan nvples shipped on the Huntingdon out or 30,000 cases.

PURE-BRED STOCK

FRANKTON STOCK SALE

ALL MARKETS FIRM ' (From, Our Own Correspmldenf) HAMILTON. Tuesday. . Competition was keen at the stock sale in the Franxton yards today. There were smaller yardings of cattle and sheep than usual, the beer prices rising sharply. Fat sheep remained steady. ’l'nere was gm average yardlng of pigs, price:- belng m adyanc of those ruling last. week. Aucuoneers report. as luliuwz Dalgety 'and Company, Ltd.:—A 1110(1erate )‘urdlng or beef, and prices again advanced on late rates. All good quality cattle: sold at. frum 105 [u 205 a. head higher than last week. Slure cattle sold at very nrln late rates. A smnll yarding of fat sheep and prices were higher than last week. There was only a. small )‘ardlng of store sheep, which met with a very keen demand. Sin-(ill two-tooth wetllers made its 6d, and mixed small hoggets 205 6d. There was a. medlun‘l yarulng of fut pigs, with a large yarding of stores. Competition was keen for all classes. I—lezu‘y bat-un-ers made ..‘.‘4 to £4 125; medium baconers, £25 85 to 4:3 165; heavy porkers, 4:2 1:5 to :2 195; light porkers, £2 55 I‘.) £1 85; large stores, £l. 105 to £2 ~15; slips, £1 25 to £1 Gs; weanrrrs, 165 to 3.11; small weancrs, 115 to 155. New Zealand Loan and Mercantile Agency Company, Ltd—Fat bullocks‘, £ls 175 St! to £l7 Ts 6d; prime fat cows, £l2 185 to £l4 35; lighter fat cows, :.‘3 _ .‘ n 4” .lAr ‘_:Ilnkl~ hydra "T —.u

.1. we w :.-. --, "_.m” 75 6d to £lO 25; killable coxx's, £7 55 to #3; runners, £4 ls to £3 12s; heavy baconers, £4 45 to £4 125; medium baconers, £3 155 to £«l‘. heavy porkers. £2} to £l3 105; light. porkere, £2 is to .‘J’.’ 153; fat, Wethers, 375 4d to 375 6d; fullrnouthed ewes, in land), 2545 to 34s Id. Farmers' Clo-operative Auctioneering Company, Ltd.—An average yarding 01' steer and cow beef. There was keen competition throughout, and prices showed an advance on late raters. A smaller yarding of fat sheep also showed a slight advance. Store sheep and Cattle sold at late rates, while fat. and store pigs_ met with keen competition and sold at increased prices. Prime baconers averaged 86 a lb, while porkers realised 7d to 71d 21 ll). Fat steers made £l3 155 to £l4 105; prime fat cows and heifers, £l2 25 6d 10 £1; 25 6d: {at cows, £3 175 (3d to £ll 55: medium fat cows, £8 55 to £55 103: light, £7 to £8: forward‘ £5 155 to £6 12s Gd; stores. £4 to £5 55; Jersey and Jersey-cross yearling, heifers, 221‘. 55 to £4 175: fat ewes. 325 in. lamb, 295 Gd; heavy baconers, £l2 Ts in lamb, ‘Z‘Js La: heavy baconers. £4 Ts tn £4 145; medium baconers, £7l .175 to £4 35:1ight. £‘.: 105 to £3 155; heavy porkers. £3 55 to 1:: 11s; medium pork—ers, £2 14s to £2 18s: light porkers. £2 55 to £2 105; stores. 373 tn £2 is; slips, 285 to Sits; weaners. 15: to 255.

POTATO MARKET EASIER

1 POSITION IN CANTERBURY } Press Association CHRISTCHURCLI, Tuesday. A close holiday was observed today in‘ the grain and produce trade on account of the Grand National race meeting. However. some changes took place over the week—end. Potatoes. which were quoted in the Saturday report at £9 105 for August and up to £lO for September delivery. have. weakened by 55 a. ton, and quotations are ranging at about £3 to £9 25 6d for August and £l9 105 for September delivery. The very substantial} quantities going North are the main cause of the easing. combine-l with the‘ freer offerings from farmers Another factor that has had some effect is the statistical return published today. which showed an increase of 2,200 tons of "tables." on the return of last year. These figures are stated to be the actual return of the potatoes dug. and should, therefore. be more reliable than the returns of previous years. There will be ino boat for the North this week. ' 1 Oats have firmed. and some sales of A ‘Gartons have taken place .‘Lr 3:: 93d a bushel. f.0.b., s.i. Australia is still inquiring, but so far no business has resulted. The inquiry, however. is hardening the market. in addition to which it is believed that the bulk of the carry-over oats have been purchased. Tln‘oshings have also been comparatively light so fur this year.

BRITISH COLUMBIA PLAN (Australian. and Al2. Prcsé Association) VANCOUVER. Monday. The l’xemier of British Columbia, Mr. S. F. Tolmie, announced today that the Provincial Government was co—operating with the Empire Marketing Board, It will pay the freight from Brxtam to British Columbia. on importations of purebred livestock of approved breed, on con—dition that: the/animals 3er not. sold outside the pruvmce \vxthm a. named uf threu years.

LONDON METAL MARKETS

(Australian and N.Z. Press Association) LONDON, Monday. The following are today’s quotations for metals, compared with those on August 81—loggfperr—Spot. £73 135 9d (£73 165 file-ctrolytic Copper.—Spot, £B4 55 (£B4 55); three months. £B4 153 (£B4 155). “'ire Bars—Spot, £B4 155 (£—~). Lead—Spot, £23 35 96. (£—); three months, £23 23 (Sci (45—). Spelter.——Spot. £24 105 (£24 183 9(1); three months, £24 153 (£25 SS 961). Tim—Spot, £209 35 96. (£2ll 35 9d); three months. £213 115 311 (982,15 185 fid). Silver.—Standard, 24 1-8 d (24 3-16 d) an oz; fine, 26 1-Sd (263 d).

COMPANY REGISTRATIONS

Five private companies were regis—tered in Auckland yesterday. Details are:— . Synchrotone. Limited, manufacturers of and dealers in synchrotone film projection machines. Capital: £1,500,1n £1 shares. Subscribers: Free Grant, 750 shares; David. Cook, 500 shares; Albert ‘Villialn Andrevr, 250 shares. John Robertson and Company, Limited, importing and indent agents. Capital: £1,200, in £1 shares. Subscribers: John Robertson. 1,000 shares; Percy Albert Fowler, 200 shares. Mount Albert Fruit Company, Limited, fruiters and dealers in vegetables. Capital: £IOO, in £1 shares. Subscribers: Jane Russell Arkins and )lerriell Armstrong Stella Matthew, 50 shares each. Nelson Entertainments. Limited, theatre proprietors and managers. Capi—tal: £IOO, in £1 shares. Subscribers: New Zealand Picture Supplies, Limited, andh \Villiam Robert Kemball, 50 shares eac . , Frank Ardern. Limited, builders and contractors. Capital: £SO, in 131 shares. Subscribers: Frank Ardern, 40 shares; Agnes Fanny Ardern, 10 shares.

CHICAGO WHEAT MARKET

(Australian. and NZ. Press Association) Recd. 9.33 a.m. CHICAGO, Tuesday. “meat—September, 1 dollar 31} cents a. bushel; December, 1 dollar 39 5-8 cents: March, 1 dollar 44 3-8 cents; May, 1 dollar 48 5-8 cents.

Buyers. Sellers. ‘ 5: s. d. S a. d. BANKS-,— Aunt. of Commerce . 1 11 0 _— Ranl: of 'Asia. .V .. 14 7 6 — L'om. or Australia . 1 'J 5 1 n 8 Ditto (com) .. .. _ — U 19 3 Ditto (preh) .. .. . 4 I5 — Eng. Scot & Ausl. — 310 0 N.1tlonai of >12. .. —— 7 0 0 Nat. of Australasia . 19 H 0 19 15 6 Ditto (con) .. .. —— 9 15 0 New South \Valeg . 51 10 n .— Ncw Zealand .. .. 3 2 6 3 2: 3 Ditto (D mort). 20: paid .. .. .. ._ 1 s 2: -— linlon of Australia lo 1 0) —- IXISURANCE— ‘ National .. .. .. .. 016 :2 n 16 6 New Zealand .. .. 2: 7 4 2 7 a Queensland .. .. .. I; 5‘. fl 2: 4. 9 bouth British .. .. 3 'I 0 a 8 0 LOAN AND AGENCI— . Abraham 8: Williams (pron) .. .. .. c 8 o _— Tmlgety and Co. .. 13 0 0 15 5 6 Farmers’ Co-op. Auc. 3 10 0 -— Ditto B (pret) .. o 16 1, .__ Holdsbrough, Mort . 2 7 6 2 8 6 Newton King (pro!) 0 10 0 0 15 0 NZ. & River Plate 1 10 6 1 11 9 .\'.Z. Guar. Con). .. 0 9 3 — Loan &: .‘Iorn. -. 123 0 0 130 0 0 Ditto (DTGL9 .. .. 80 o o — N. Auck. Farmers' 1 Co-op (0rd.) .. .. 0 t: 0 0 3 4 Ditto B (pret) .. 0 11 0 0 1;; o COAL— t‘;re:.' Valley .. .. 1 0: 4 1 6 6 Hikurangi .. .. .. 0 1 G _— Dino (pi-er.) .. .. 0 4 u _. Dino A (pref.) .. 0 t: 0 _- Pnkemiro .. .. .. 1: 13 0 .1 1': 6 Ranoyn (or-d.) .. .. 0 16 2: 0 17 0 Di! 0 (pl-ct) .. .. 0 3 1 n t: :: 'l‘auplri .. .. .. 1 R 9 1 10 0 Ditto (pron) .. .. 1 :3 9 — 1V81p8 .. .. .. .. 0 13 3 0 14 9 Westport-Stockton '(prefJ .. .. .. .. 0 4 O 0 4 11 GAS— Auckiand .. .. .. 1 If: 10 1 4 4 Ditto (com) .. .. 017 s .— Giaborno .. .. .. .. 0 13 0 —- SHIPPING— Devonport Steam .. —-« 1 2 3 Huddart-Parker . . 2 5 6 —- Ditto (pl-cf.) .. .. 1 1 0 — Northern Steam .. 0 14 2 n 14 3 Ditto (con) . . .. 0 6 4 0 6 9 Union Steam (pro!) 1 0 9 ~— TIMBER— Kauri Timber .. .. 0 17 9 0 18 3 Leyland-O‘Brien .. —- 1 11 9 National .. .. .. 0 T 6 0 9 0 Parker-Lamb .. .. —— 0 17 9 WOOLLEN— . Kalaml .. .. .. .. 0 14 0 —— Dino tron.) .. .. 0 4 :3 0 5 4 Ditto (preh) .. .. 0 16 0 0 17 6 BRE‘VERIES— Q. L lnnu (DMJH 1 0 0 _— .\.Z. Breweries .. 4 4 0 4 4 9‘ AUSCELLANEOUS— Auck. Amuse. Park ~— 0 2 '0 Ditto (pl-en) .. .. ~— 0 12 0 A. J. Entrican (0rd.) -—— 0 17 0 Ditto (pram) .. .. —- 1 0 0 Australian Glass . 2 14 5 2: 16 0 Ana. Iron & Steel «mm-1.) .. .. .. 1 2 0 1 2 9

Buyers. Sellers. Booth. Macdonaid , (0rd.) .. .. .. .. —- 0 Z 0 Ditto (preffii .. .. —— 0 7 6 British Tobacco .. 2 S 0 2 8 0 Bycroft, Ltd. .. .. 1 13 0 1 15 0 ("hacker Taxi .. .. U 1 i9 0 8 0 Polonial Sugar .. 57 5 0 SS 0 O Dominion Pictures . 1 0 fi —- Ditto (preh) .. .. 1 0 6 —- ‘Donughy's Rope i 114 6 —— Eim‘tro. Zine (0rd.) 1 10 0 2 0 0 Ditto (prefi) .. .. 1 19 6 2 0 3 Farmers’ Trading .. 0 9 2 0 9 8 Ditto A (pref) .. 0 16 6 —- Ditto B (pref.) .. 0 13 Ti 0 15 6 Fullers‘ Pictures .. 0 19 O — Gear Meat .. .. .. — 2 4 6 (Err-y and Menzies .. n 11 0 I) 1?: 6 Hayward's Pictures . (J 19 0 1 0 6 Henry Jones .. .. .1 —— 1 1-1 0 H..\[. Arcade (pref.) 1 1 0 _— Lewis Early (0111.) . 1 2 0 — Ditto (m‘ef.) .. .. —— 1 0 0 Milne and Choyco . 1 6 6 -— Ditto (met) .. .. 1 6 6 -- Ditto (13 pref.) .. 1 6 .6 -— Ditto (deb. Stk.) . 1 6 6 1 6 9 )Iorris}1edstrorn .. 1 3 9 1 5 0 Ditto (pref.) .. .. 0 18 6 —- NJ. Farmers' Pen. 1 2 f! 1 4 0 N.Z. Refrig. (com) 0 7 1 0 7 6 Robinson Ice Cream 1 2 fl -— Sanford Ltd. .. .. 0 18 0 0 19 0 Ditto (preh) i. .. 0 19 ‘.9 —- Slim-land and Co. . 1 1 6 — Ditto (pi-cf.) .. .. 1 1 6 _— annnaki Oil Fields 0 4 n 0 4 5 Thames Theatre .. 011 6 0 15 0 Union Oil .. .. .. 2 2 0 2 5 0 \V‘hit. Stevenson . — 2 10 0 \V‘ilsons Cement .. 3 4 G 2 4 9 MINING-— Aiburnia. (23 10c] pd.) 0 1 4 0 2 0 )Ioanataiari (paid) . 0 0 7 0 1 1 ! Ditto (com) .. .. o o 1 o o 5 ‘Lucky Shot (2s pd) 0 1 0 0 1. 8 \ Ditto (cox-i.) .. .. 0 0 4 o 1 1 Ohinemuri .. .. .. "10 1 010 6 ‘Vv'aihi .. .. .. .. 012 1 012 3 W‘Vaihi Grand June. . 0 1 0 0 1 3 Broken Hiil Prop. . —— 1 11 0 Mount Lyell .. .. .. 2 1} 0 2 3 6 Kuala Kampar Tin 0 13 6 0 14 0 DEBENTUREB — ‘Auckland Gas. 1932, 5 per cent. .. .. 96 0 0 -— ‘Auckland Ear. 3a.. 1 5! p.c. .. .. .. .- 99 0 0 _— ‘ Ditto. 65 9.0. .. .. 1.01 0 0 —- City of Auckland. ! 1940 a} p.c. .. .. a: o I - 1 Ditto. 1936, Bi p.c. 99 o o — i Ditto. 1943. 55 p.c. 101 0 0 - Bor. of Mt. Eden. 6 p.c. .. .. .. .. 104 10 0 — N.Z. Breweries .. .. 1 8 4 1 S 6 Gisborne Sheepfai‘mers .. .. .. .. —- 99 0 0 IGOVERNMENT BON‘D5— ;“‘ar Loan. 1930, 4;; —- 99 15 0 i Ditto, 1938. 45 p.c. 100 0 0 101 O 0 | Ditto, 1939. 43 p.c. 100 0 0 — v Ditto. 1941. ‘i p.c. 100 0 0 —— Ditto. 1933. 61 p.c. 99 5‘ 0 ~- 3 Ditto. 1933. 69 p.c. 101 0 0 —- ‘; Ditto. 1936. 6a ac. 101 5 0 — :INSCRIBED STOCK— iW‘ur Loan, 1938, 4.} 100 0 0 101 0 0 I Ditto. 1939, (L (La. 100 0 0 -— ‘ Ditto, 1927-41. 5} . 99 5 0 — Ditto. 1983. 61 p.c. 99 5 0 _. Ditto. 1933, 5,2 p.c. 101 5 0 101 7 5 Ditto. 1936. 53 p.c. 101 5 0 —-

-.-- "W -_va W Latest “Approx. Price. Return. :..: s. (1. £2 5. d. BANKS— Com. of Aust. .. 1 9 G 5 1 S Ditto. (prefi) .. .. 1' 6 6 5 :0 3 Eng, Scot. 8: Aust. . S 8 0 4 9 :1 Nat.ofN.Z....... 619 6 5 0 4 New South W'ales . . 51 17 6 4 16 4 New Zealand .. .. I: 3 0 4 11 0 Union of Aust. .. .. 1'5 1 O 4. 19 S INSURANCE— V ' A.P.A. .. .. .. .. 013 ‘3 312 9 National .. .. .. .. 016 4 4 11 10 New Zealand .. .. 2 7 S 3 16 11 South British .. . . .. 3 7 6 3 14 1 LOAN AND AGENCY—— Goldsbrough. Mort . 2 S 0 fl 5 0 N.Z. Guar. Corp. .. 0 9 4.3 7 2 3 N. Auck. Farmers 0 1: :1 — Ditto (B. pref) .. 0 12 6 9 12 0 COAL—Grey Valley .. .. .. 1 G 6 -1_ 10 7 Renown .. .. .. .. 0 16 9 — Ditto (pref) .. .. 0 3 1 -— Taupiri .. .. .. .. 1 9 9 614 S V‘Vaipa .. .. .. .. 014 0 511 5 31Vestport .. .. .. .. 1 13 3 U 15 4 ‘ GAS—‘Auckland .. .. .. 1. 4 1 ’6 1;“. 10 1 Ditto (COIL) .. .. 0 17 11 6 13 11 \ SHIPPING— ‘Devonport Steam .. 1. 1 9 6 17 11 ;Northern Steam .. 0 14 3 8 2 a ‘P. and 0. (def stk) 2 15 U 4 7 3 113111011 Steam (pref) 1 1 3 5 9 5 [TIMBERS— Kauri .. .. .. .. .. 018 f; 4 7 3 National .. .. .. .. 0 7 6 — BREVVERIES— Aust. Distilleries .. 1 2 2 2 14 2 'NZ. Breweries .. .. 4 4 6 :: 11 0 1Staples .. .. .. .. 214 D 412 '1 iTimaru (55 pd.) .. 0 S 4 5 1!) 11 . “'OOLLENS— Kaiapoi (com) .. D 5 0 4 4 0 MISCELLANEOUS— Beath and Co. .. 1 11 D 6 6 0 Ditto (ls pd.) .. 0 9 5 —- British Tobacco .. .. 2 S I! 4 11 2 1Colonial Sugar .. .. 57 10 o 4 o 11 LDunlop Rubber .. 1 7 S 7 4 7 ‘Electro. Zinc (pref) 1 19 6 6 1 6 'Farmers’ Trading . 0 9 4 8 11 5 ‘Iiolden's Motors .. 1 S 0 7 2 1'0 \N.Z. Farmers' Fert. . 1 3 6 6 16 2 .\'.Z. Refrigerating . 0 16 4 6 2 5 ' Ditto... .. .. .. 0 7 2 619 u onrthern Boot .. .. 0 12 6 — Robinson Ice Cream 1 3 6 S 10 8 Sanford, Ltd. .. .. 0 18 6 7 11 4; Taranaki Oils .. .. 0 3 11' —— Victoria Nyanza Sug. 2 1’ :1 6 5 R \Vilsons Cement; .. :3 1 9 4 9 5 DEBENTURES— Eketahuna. Bor., 65 p.c., 1932 .. .. .. .. .. 100 0 0 610 0 NZ. Breweries .. 1 8 6 —- NZ. \Var Loan, 1930, 43 p.c. .. .. .. .. 99 5 0 5 5 0 ‘ Ditto. 1940. 4% 13.0. 100 0 O 4 10 0 N.Z. Ins. Stk., 1938, 4; p.c. .. .. .. .. 100 O O 4 10 0 Ditto, 1933, 5’; p.c. 101 7 6 5 2 2