FINANCE & MARKETS

Sun (Auckland), Volume IV, Issue 949, 16 April 1930, Page 13

FINANCE & MARKETS

An Easing Tendency

Market on ’Change By “Noon Call.” LI TTLE movement was shown in the market this morning The general trend is toward slightly lower price levels,

FLUCTUATIONS Price movements, shown by sales over the past 24 hours with the price at the time of the previous recorded sale, include: South British Insurance, fall of 3d. New Zealand Farmers’ Fertiliser, fall of 1s 3d. Waihi Mining, fall cf Id. National Bank of Australasia, fall of 1s 6d. Kauri Timber, rise of 6d. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours include: Yesterday afternoon. —Commercial Bank of Australia, 21s lOd; National Bank of Australasia, £l4 12s Gd; Auckland Gas, 23s 8d; Kauri Timber, 14s; staples Breweries, 48s 6d; British Tobacco, 40s 3d; Union Soap and Oil, 355. At this morning’s early call.—South British Insurance, 61s 9d; Waihi Mining, 13s lid (two parcels). At midday.—New Zealand Farmers’ Fertilisers, 18s 9d: Wilsons Cement. 39s LOid; Auckland Harbour Board, 1937, ,'ji per cent., £96; National Bank of Australasia, £l4 13s 6d. • * * Hauraki Mines Accounts Accounts for the half-year ended November 30, 1929, supplied by the Jiauraki Mines Consolidated, Ltd.,

show that bullion to the value of £522 was won during the period. Brokerage cost £538 and mine working charges amounted to £B,OOI. Mine property is shown in the balance sheet as worth £28.750, and plant and buildings worth £6,994. * * * Mine Managers’ Reports Mine managers report as follow: Till.—A crosscut has been put out on the liangingwall and about three inches of quartz disclosed. Moanataiari.—Boring is being continued in the quartz, and although it looks promising not much gold has been seen. In the southern end there are apparently two distinct reef formations showing, diverging away from each other, with country rock and ribs of quartz between them. The first reef about three and a-half feet wide and in the other we cannot determine tlio width, as we are still boring in quartz with no liangingwall showing. The quartz is heavily mineralised. We are in this reef about four feet. * * * Dividends Due ~" Dominion Pictures, 9d interim on both issues Apl. 24 Waipa Collieries, annual, 5 p.e. May 1 English. Scottish and Australian Bank, half-yearly interim .. May 1 Aust. Iron and Steel, half-yearly pref., 75 p-c., p.a May 1 Call — Reliance Loan Co., 2s Gd per pref. share, on or before .. July 2

TO-DAY’S QUOTATIONS

STABILISING WOOL LONDON, Tuesday. Bradford merchants are keenly following tlio central wool marketing proposal of the Federal Council of Australian Graziers. They would not Support a control scheme suggestive of the Bawra days, but would be more ready to work along the lines suggested by Mr. Young, of Adelaide, for the development of friendly relations between buyers throughout the world, and the formation of an international committee of growers and buyers for the stabilisation of the market on liges acceptable to both sides, over 30gns. BUTTER AND CHEESE Merchants report receipt of overseas Cables as follow: Newton King, i-td.. from R. and W. I)avidson, Ltd., dated April 15:—“The "butter market is firm, but quiet, at 122 s to 1245: exceptional quality. 12Gs. The ■cheese market is firm. Coloured, 76s to 78s; white, 74s to 7Gs.“

THAMES VALLEY DAIRYING From Our Own Correspondent MORRINSVILLE, Tuesday. Tlio Thames Valley dairying statistics for March show a remarkable increase in the production of butter-fat compared with March last year. Last tnonth tie- Morrbosville Dairy Company’s factory made IGI tons of butter, compared with 545 tons for March, 1929. The factory has made 1,400 tons of butter for the season to date, compared with 1,082 tons for the corressponding period last year. The grading for the season to date lias averaged 93.25. The statistics for other factories, with last year’s figures in parentheses, axe:— j The Sunny Park Dairy Company -will pay c*u ~ ;'«>r March bi; compared with 13,501 for March of j The Norfolk Dairy Company will disI tribute £2,509 for March compared * with. £2,103 for the corresponding | period of last year. FORTY-SIX YEARS ON CHANGE I Felicitations of members of the - Auckland Stock Exchange were exi pressed by the chairman, Mr. G. C. Oreagh, to Mr. T. M. Hull this morning on the occasion of his 81st birthday. Mr. Hull has been an active member of the Auckland Stock Exchange for 46 years. To mark the occasion he took the midday call on ’Change this morning. CAMBRIDGE DAIRY COMPANY From Our Own Correspondent CAMBRIDGE, Today. This month the Cambridge Co-opera- [ five Dairy Company, Limited, will advance suppliers for March the sum of I £23,020, the basis 'of payment being Is 3d a lb butter-fat for cheese, and is for blitter compared with Is 4|d and Is 3ifd respectively for March, of last year. The cheque for last March was £16,700. For the season to date, tlio company ; has paid out a total of £237.560, compared with £217,740 for the corres- | ponding period of last season.

THE FINANCIAL OUTLOOK

WEEK ON ’CHANGE INVESTMENTS REVIEWED By “Noon Call’’ j For a second week in April the seven days just passed Have been rather unusual ones in financial circles. Whereas a loosening of purse strings can generally be expected following the half-yearly bank balance, the past week has seen none of this; the reverse rather has been the case. New Zealand is definitely set on a course of greater economy and, although the reaction may be rather unpleasant in the immediate future, it will be all for the best in the end. There is much in the contention of Prof. Tocker, speaking in Christchurch last week, to the effect that we can look for a rather difficult year in 1930, to be followed by two years of gradual recovery. There is certainly need for the exercise of strict economy within the Dominion. The brightest spot on the financial horizon over the past week has been the continued firmness of the wool market, the London sales closing with competition sending prices to the highest point of the series. Labour troubles in the English mills may have a temporary effect on the market, but it seems that prices have touched bedrock definitely and that a slow but steady .recovery may be looked for. DAIRY PRODUCE STILL LOW The position in regard to dairy produce still leaves much to be hoped for. There has been a slight recovery over the past week, but the general feeling is that this will not be sustained and that following the withdrawal of the speculative interests who bought rather heavily ex the ship in London last week at around 122 s to 1245, the price may again drop to within the vicinity of 120 s, or even lower. The prospect of heavy arrivals of new season’s Northern Hemisphere butter on to the English market also tends to have a bearing effect on the market. In spite of all this, however, the prospect of a slight reebvery following the arrival of the English summer and the consequent increase in employment is rather bright. For one thing the low retail prices ruling at the moment must have a certain stimulating effect on consumption. All these movements have a direct bearing on the New Zealand investment market, while the immediate outlook lias not been brightened by the announcement of the prospects of increased taxation in both England and Australia. There lias been a slight easing tendency in the market for shares quoted on Australian exchanges over the past three days and every day the position of the investor .desirous of making a selection for permanentinvestment becomes more difficult. Stocks which a few weeks ago seemed gilt-edged show further depreciations in market value following the receipt of fresh bearing news, and it is only natural that the more timorous should find selection difficult. As a result there is a steady demand for Government securities and the 55 per cent, loan available over the counter at the Treasury Office continues to attract, as it is undoubtedly a very sound proposition for those who must place safety before rate of return. A FEW WORTHWHILE SHARES For those who can afford to take a long view and a little greater risk the market offers several rather attractive propositions at the moment. In the banking group New Zealands, solidly placed in respect to reserves and income, seems a little high, offering only £4 17s per cent, return on the present market price. Unions of Australia, offering around £ 5 4s per cent, on the present market, with an almost certain increase in dividend and an appreciation in market price when the financial horizon clears, have undoubted attractions. Commercials of Australia, offering a return of £6 17s per cent, based on the last dividend, continue to change hands freely despite the prospect of a slight reduction in dividend rate. Nevertheless the scrip is attractive. In the loan and agency group Dalgetys stand out, offering a return on investment at present prices of approximately 75 per cent. INVESTMENTS OF THE WEEK Below is a summary of sales made on New Zealand exchanges over the week ended April 15, giving the approximate return on investment based on the latest dividend: Latest. Approx. BANKS—■ Price. Return.

. METAL PRICES LONDON, Monday. (Quotations on April 10 are given in parentheses.) Copper.—Spot, £67 7s (£6S 7s 6d): three months. £66 5s (£67 7s Gd). Electrolytic Copper.—Spot, £B2 10s (£B3 ss); three months, £S3 10s (£B3 15s). Wire Bars. — £B3 10s (£B3 15s). Lead. —Spot, £lB 13s 9d (£lB 11s 3d); three months. £lB 15s (£lB 12s 6d). Spelter.—Spot, £lB 2s 6d (£18); three months, £IS 13s 9d (£IS 12s Gd). Tin.—Spot. £165 12s 6d (£166 os); three months, £167 15s (£163 2s 6d). Silver.—Standard. 19 9-16 d (19 11-16 d) an ounce; fine, 21 l-8d (21£d).

FAT STOCK PRICES

WESTFIELD REVIEWED BEEF MARKET FIRM By R.W.C. No change in the outlook for the frozen meat has taken place during the week, and stock prices throughout the Dominion, as a result, remain practically on recent levels. At Westfield yesterday a short yarding in most sections practically all went to Auckland butchers at firm prices. The fact that the freezing works of the province are closing down for a week from tonight has tended to put a quieter tone into the fat stock market. In any case, stock coming forward for export has tended to show a decline in numbers in recent weeks, dye mainly to the fact that present prices, when compared with the market for stores, are not very attractive. Farmers, in many instances, prefer to keep their fats rather than sell and replace with stores, which would cost very little less. Exporters have not been keen buyers over the past week, mainly as a result of the approach of Easter and the desire not to have too much stock on hand over the holidays. At YY’estfield yesterday they took practically no prime stock, buying only lines of canner cows at around 19s a hundred, which were apparently not wanted by anyone else. Nominal export schedule prices are unchanged at late rates. Yesterday’s Westfield Market At Westfield yesterday sellers of fat cattle benefited by the fact that there was a short yarding, and prices were very firm; well-finished young cattle, at times, tended to bring premium prices on late rates; best ox made to 37s a hundred; best cow to 33s a hundred. Heavy prime steers made up to £ls ss; medium prime, £l2 to £l3 10s; small and light, from £8 10s; extra heavy prime cows, to £ll 17s 7d; heavy prime, £9 5s to £lO 10s; medium, £7 5s to £8 10s; light and small, from £6; unfinished and inferior, from £ 3. The calf market contained a big percentage of large-framed calves and prices were decidedly easier, well nourished medium weight vealers being the only sorts which met with anything like a keen demand. Runners made to £ 6 4s, heAvy vealers £ 3 5s to £ 4 4s, medium £ 2 2s to £ 3 3s, rough and plain 20s to 365, small and fresh dropped from 3s. Slightly under an average offering of fat sheep was mostly made up of heavy prime well-finished wethers. The market held practically on a par with late rates. Extra heavy prime bigframed wethers made to 9d; heavy prime, 27s to 28s 6d; medium, 24s to 26s 6d; light and small, from 21s; extra heavy prime ewes made to 21s; medium to heavy prime ewes, 16s 6d to 19s. The market fop lambs was very firm at up to 71d a lb. for best quality, this rate being excedded for a few special lines. "Fat pigs met a firm market. Choppers sold from £2 10s to £3 6s; heavy and medium baconers, £3 10s.to £4 Is; light baconers and heavy porkers, £2 17s to £3 8s; medium porkers and light porkers, £2 5s to £2 15s; small and unfinished porkers, £1 12s to £2

3s. Large stores ma : - ■ £1 10s; slips, 10s to ISs; wea- to 12s. Frankton Stock Sale At the Frankton stock sale held yesterday there was an average yarding in most sections. Beef met with failcompetition, excepting bullocks, which were slightly easier than last week's rates. Fat and store sheep maintained late quotations. -There was a short yarding of pigs, rates being on a par with last week’s prices. Heavy fat bullocks made £l2 17s to £l3 ss: medium, £ll 15s to £l2 15s: light, £lO 6s to £11: heavy prime cows, £9 2s to £lO 6s; medium, £7 Is to £S 10s: light, £ 5 5s to £6 15s: store cows. £3 to £4 17s 6d; vealers, 22s 6d to £2 os; heifer calves, £1 17s 6d to £2 2s: steer calves, £3 2s; fat wethers, 26s to 27s 6d: fat lambs, £1 to 225: mixed sex woolly lambs, 11s lOd to 13s 7d; cull lambs, 6s to 7s 6d: heavy choppers, £4 Is to £4 9s; medium to heavy baconers, £ 3 4s to £ 3 12s; light baconers, £2 15s to £3 Is; heavy porkers, £2 5s to £2 10s; light. 38s to £2 3s; stores, 21s to 2Ss; slips! 14s to 19s; weaners, 8s to 12s. DISTRICT STOCK SALES AUCTIONEERS’ REPORTS Stock auctioneers report on sales Held throughout the district during the past week as follow: Alfred Buckland and Sons, Limited. —Durmg the week we held cattle sales at vY estrield, Pukekohe, Turua, Helensvifie and Pokeno, and also a pig sale at Pukekohe. There was a heavy yarding of both cattle and pigs at Pukekohe, and average entries of cattle at other yards. Prices were similar to those ruling at the previous week’s sales. Best dairy cows and heifers at profit made £l2 to £ls 15s; second grade, £ 9 to £ll 17s 6d; other dairy cows and heifers, £4 to £8 15s; empty young cows and heifers, £ 3 to £5 ss; boner and store cows, £2 to £5; fat cows and heifers, £5 10s to £9 15s; fat steers, £lO 10s to £l3 2s 6d; grown steers in forward condition, £9 10s to £lO 2s 6d; three to four-year-old steers, £8 10s to £ 9 10s; two and thre-year-old steers, £7 to £8 12s 6d; yearling to 18-months-old steers, £5 5s to £6 15s; weaner steers, £3 to £3 18s; weaner heifers, £2 10s to £4 ss; 18-month to two-year-old dairy heifers in calf, £6 10s to £ 9 15s; other 18-months-old heifers, £4 10s to £6 7s 6d; cows with calves, £6 to £9 10s; heavy bulls, £7 to £9; sound young herd bulls, £4 10s to £9 10s; other bulls, £2 to £4 ss. The New Zealand Loan and Mercantile Agency Company, Ltd.—Sales were held during the past week at Westfield, Pukekohe (cattle and pigs), Warkworth and Waiuku. There is little or no alteration to report, all classes of cattle and pigs selling at late rates. Best dairy cows and heifers, close to profit, made £ll to £l4 10s; other dairy cows and heifers, close to profit, £7 10s 'to £lO 10s; backward springers, £6 to £8 15s; aged cows and inferior heifers, £ 3 10s to £ 5 17s 6d; bulls, £ 3 to £9 15s, according to weight and quality; weaner calves, steers, £2 5s to £4 10s; heifers, £1 10s to £4; heifers suitable dairy purposes, £4 10s to £7 17s 6d; yearling to 18 months steers, £4 17s 6d to £6 10s: 2 to 2£-year steers, £6' 12s 6d to £7 17s 6d; 3 to steers, £8 to £9 ss; steers in forward condition, £9 10s to £lO 17s 6d.

IMPORTS SHOW DECREASE

TRADE DURING MARCH Trade to the port of Auckland during March totalled 111,504 tons,' a decrease of 19,401 tons as compared with returns for March, 1929, according to a report by the harbourmaster, Captain H. H. Sergeant, to the Harbour Board yesterday. Tlio figures for last month were, however, an increase of 5,511 tons on those for February. Passenger arrivals numbered 1,095 and departures 1,602, an increase in arrivals of 57 and i decrease in departures of 378, compared with the corresponding month of 1929. Captain Sergeant stated that 710 vessels, aggregating 2 33,306 net tons, entered the port. Compared with March, 1929, the large merchant shipping showed a decrease of 45.473 net tons, representing 11 vessels. The returns for March, 1929, however, constituted a record, and last month’s figures compared favourably with those of previous months. Arrivals at the Manukau showed a decrease in net tonnage of 1,266 tons. TAUMARUNUI STOCK SALE From Our Own Correspondent TAUMARUNUI, Tuesday. Sheep and cattle were hard to quit at the weekly sale today, many lines being passed in at prices considerably below the vendors’ reserves. Sheep,—Forward m.a. wethers made 18s to 21s Id; 2 and 4-tooth wethers. 19s; old ewes b.w.r., 16s 3d; other ewes and all the lambs were passed in. Cattle.—Fat bullocks made £lO 2s; fat cows, £5 Is; small fat steers, £5 14s to £5 15s; 4-year-old forward bullocks, £6 2s to £S 10s; 2S-year stec 9 passed in at £7 10s (reserve £10) Black Poll heifers, £4 Is; others passed in at £5 10s (reserve £6); small 2S-year steers, £4 15s; cows and calves, £4 15s to £5 15s; store bullocks, £5 10s; calves, 325. Weaner pigs, 9s 6d to 14s.

HIDE AND SKIN MARKET

AUCKLAND PRICES Late rates were maintained in all sections at yesterday's hide, skin and tallow auctions held by the Auckland YY oolbrokers' Association. Prices ranged: Cow Hides.—Best grade, light. 5d to sad a lb: medium. ~>ld rt> 5Ad; heavy. 5Ad to sld; cut, 4Jd to sd: second grade, 3£d to 4d; ox. best grade, light. sld to 5 7-Sd: medium. 5$ to s|d; heavy, s|d to 6d: cut. 4|d to sd: second grade. 4Jd to 4|d; slippy, 3d to 3|d: kips, best grade, s>d to s|d: second grade. 4d to 4id: yearlings, heavy, 7d to TAd; light. 7|d to Sd; second grade, s&d to 6id; calfskins, heavy, Sd to 8Id; medium, lOd to 10id; light, 9id to 9|d: small, SAd to 9d: slippy, 6td to 7d; cut, Sd to SAd. Sheepskins.—Dried, three-quarter to full-woolled, medium to tine crossbred. 6id to 7d a lb; coarse, sid to 6d; faulty, 5d to 5Ad: damaged, 3£d to 4d; badly damaged. 2|d to 7d: quarter to half-woolled. 6Ad to 7d; coarse. sid to 6d: faulty, 5d to 5Jd; damaged. 2d to 2Jd; bare to quarter-woolled. 6d to 6Ad; second grade, 3Ad to 4d: faulty. 5d to 51d: lambskins, best grade, 5Ad to 61d: faulty, 4d to 4|d; damaged. 3|d to 4d; salted sheepskins, large, 3s 9d to 4s each; medium, 3s to 3s 3d; bare to quarter-woolled, large, 2s 4d to 2s 8d; light. Is Sd to 2s; faulty, Is 4d to Is 9d; lambskins, extra large, 2s to 3s 3d: medium to large, 2s 4d to 2s 9d; light, Is 6d to Is lOd; shorn, Is 2d to Is Sd. Tallow. —Barrels, good mixed, 23s Gd to 24s a cwt; second grade. 22s to 22s Gd: poor quality, 20s to 21s; in tins, good mixed, 23s to 23s 6d; second grade, 20s to 225; horsehair, best tail, Is 6d to Is 8d a lb; mixed, Is 3d to Is 4d; short and mane, 8d to 9d; bones, clean, dry, £5 10s a ton. SALE OF PEDIGREE FRIESIANS A sale of 113 pedigree Friesians of the well-known Canterbury breeder, Mr. Geo. H. Hassall, took place at his “Hanley’’ Farm, Clarkville, Kaiapoi, Canterbury, last week. There was a large attendance, including buyers from the North Island and from Otago and Southland, and under keen competition satisfactory prices were realised. Somo of the highest prices of the day were 72Agns for the cow, Ellesmere Dutch Buttercup (dam of last year’s Royal champion bull); 70gns for a two-year-old heifer, Hanley Netherland Pauline; and a heifer calf, Hanley Netherland Buttercup, 47gns. other two-year-old heifers brought 50gns. Hanley Cloverette, 40gns. Ilanley Clover Princess. A bull calf, Hanley Patchwork, sold for 36gns. A large percentage of the animals sold brought

TO THE TRAVELLING PUBLIC

THE HOTEL SAVOY. LIMITED The hotel chain system, which is de • signed with a view to relieving touris; * and travelling businessmen of the inconvenience and anxiety generally at tendant upon the arrangements ahead of their hotel reservations and transportation of personal luggage, is to** well-known to require description. It is with pleasure that the Directors of THE HOTEL SAVOY. LIMITED, announce the inauguration in Australasia of this system, which has for si* long been popular abroad. THE HOTEL SAVOY’, which will ba ready for guests in June next, is a palatial ten-storv building situate n: the corner of King and Castlereagh S the hub of Sydney’s social, shopping and commercial centre. The building will contain upward «*f 150 bedrooms and private suites, one a equipped with its own bath and dressing room, luxuriously appointed. Shop ping facilities will be provided in the hotel, which will cost (inclusive i» shops on King and Castlereagh St refrontages) over £400.000. Special lounges, which will ensure privacy to. families, will bo a feature. In shor. THE HOTEL SAVOY will be one of the most luxuriously equipped hotels in Australasia. Tho chairman of directors of THE HOTEL SAVOY. LIMITED, is S Arthur Rickard. K.8.E., one of Sydney's leading businessmen, president cf tli** well-known Millions Club. Sydney, anil until recently chairman of directors o Usher’s Hotel. He is at present chairman of directors of the Hotel Sydney. Hotel Ranelagh (Counti'N Club), and the Hotel Windsor in Melbourne. Associated with Sir Arthur Rickard on the board are Otway R. Falkiner. Esq., of Boonooke Station. N.S.W. (the world-famous Merino stud sheep master). E. J. Tait, Esq., a director of J. C. Williamson, Limited, Sydney, and Robert YValder, Esq., proprietor of tin* Exchange, Rose Bay and Punchbowl, well-known Sydney hotels. Tho company has been fortunate in that Mr. Eliot Davis has consented to act in an advisory capacity in New Zealand. Arrangements are in course of completion for linking up THE HOTEL SAVOY’ on the chain system with the highest class hotels throughout Australia; while in New Zealand negotiations have been completed with tinproprietors for the linking up of Audi land's well-known hotels, the GRAND and CARGEN, and the GRAND HOTEL at ROTORUA, and it is hoped in tho near future to further link up throughout New Zealand main centres. —3.

Closing quotations at today’s mid Buyers. Sellers. £ s ci. A 3 d. ■ .BANKS — Aust. of Commerce 1 3 0 1 4 Australasia 12 6 12 7 6 Com. of Australia 1 l «* 1 1 11 Ditto (con.) .. . 0 6 4 0 9 Kh?., Scot. Sc Aust C> 1) 0 G lb 0 b 3 10 0 Nat. of Aust. .. . 14 l) 0 lb 0 0 Ditto (con.) .. . 7 b 0 New South. Wales 38 5 0 38 17 G New Zealand . . . 18 3 1!) G Ditto. D Mort. . 1 b 9 Union of Australia 11 12 6 11 17 6 INSURANCE— A.P.A. 0 6 6 0 G 9 New Zealand .. . 4 2 4 9 Queensland .. 2 11 0 South British .. . 3 1 6 1 3 LOAN AND AGENCY— Abraham and 0 Williams (pref.). 4 15 Dalgety and Co. . Dora. Invest and — 11 / ti Banking 1 6 Farmers’ Co-op. Auc. 0 Ditto (A pref.) . 0 17 0 Ditto (B pref.) . 0 lb 0 Coldsbrough, Mort. I 3 0 0 1 11 0 National Mortgage. 3 lb 0 N.Z. River Plate N.Z. Guar. Corp. — 1 10 0 (ord.) , 0 7 9 8 N.Z. Doan and Merc N. Auck. Farmers’ — 102 0 0 Co-op. (ord.)) ' . 0 Ditto (B pref.) . 0 X 0 9 $ Reliance Doan 1 2 0 — COAL0 4 6 Ditto (A pref.) . 0 0 G 0 Fukemiro 3 6 0 3 Kenowu (ord.) .. . 0 la G Ditto (pref.) . . . 0 11 0 2 Ditto (new issue) 0 8 0 11 Taupirl 1 b G 1 7 0 Ditto (pref.) .. . 1 Westport-Stockton 0 1 3 0 2 0 GAS— Auckland 1 3 7 1 3 10 Ditto (con.) .. . 0 17 1 Birkenhead and North0 13 Gisborne — 0 14 G Whangurei •• .. - — 0 15 0 SHIPPING— Devonport Steam . 11uddart-Parker 1 17 G 1 3 0 Ditto (pref.) .. . 1 0 Northern Steam 0 13 0 0 It 0 Union Steam (pref.) 1 0 0 — TIMBER— Kauri . 0 13 0 0 14 0 National .. .. .. . 0 -x 0 0 S Parker-Lamb .. 0 li b — HREWERIES— N.Z. Breweries .. . •> 13 3 2 14 0 J. Staples - S 0 —

call were:— Buyers. Sellers. £ s. d. £ a. d. MISCELLANEOUS— Australian Glass .. 2 1 0 — Aust. Iron and Steel (pref. > .. .. 0 19 0 1 0 Booth, Macdonald (pref.) 0 3 0 0 5 0 British Tobacco 1 19 (I 0 6 Bycroft, Ltd l 13 6 1 Id Colonial Sugar .. .. 40 10 0 Dom. Pictures 1 0 0 Ditto (pref.) .. .. 1 0 0 Donaghy's Hope 1 13 0 Electrolytic Zinc (ord.) 1 7 0 Ditto (pref.) .. .. 1 7 Farmers’ Trading .. 0 8 Ditto (B prel.) .. 0 11 9 - 0 12 6 Gear Meat 1 17 0 Hamilton Theatres. 0 28 0 Hayward’s Pictures 0 14 0 Henry Jones Co-op. 1 10 6 H.M. Arcade (pref.) 1 0 G Holden’s Motors 0 15 0 N.Z. Drug 7 0 Milne and Choyco (deb. stock) .. .. 1 6 * 1 7 National Pictures .. 0 13 6 Farmers’ Fort 0 18 6 0 JS 10 N.Z. Refrigerating 10 0 0 11 6 Northern Boot .. .. 0 7 0 0 8 Robinson Ice Cream 1 0 Ditto (new issue) 1 S 0 Sanford, Ltd 0 14 0 Ditto (pref.) . .. 1 0 0 Sharland (pref.)) .. 1 0 0 Taranaki Oil Fields L 0 1 10 Union Oil 1 13 (i 1 17 6 .v hittome-Stevenson 2 0 0 Wilsons Cement 1 19 6 2 0 6 MINING — Alburnia .. •• •• «. 0 0 1 0 0 0 Moanataiavi l 0 Ditto (Is 6d paid) 0 1 0 0 1 7 Kawarau o 0 3 0 0 7 Lucky Shot (4s paid) 0 2 0 Waihi 0 13 9 0 13 11 0 1 4 0 1 7 Mount Lyell 1 13 1 9 Kampong Lanjut .. 1 1 Raw on g • 5 DEBENTURES— Auck. Harbour Board, 5£ per cent 10 0 Ditto, 6 p.c 103 0 0 City of Auckland, 1943, 6i p.c 97 0 0 Auck. Power Board 97 0 0 Bor. of Devon port, 100 0 0 Bor of Hamilton, 100 0 0 Ditto, P-c. 99 0 0 100 0 0 Booth-Macdonald .. 70 0 0 Williamsons Film . 102 0 0 N.Z. Breweries (deb) — I 1 0 GOVERNMENT BONDS War Loan. 1930, 4£ 9S 10 0 — Ditto, 193$. 4i p.c. 97 10 0 — Ditto, 1939, 41 p.c. 97 13 Ditto. 1941, 4i p.c. 97 10 0 Ditto, 193.5. 5j p.C. 99 Ditto, 1936, 51 p.c. 99 0 0 — INSCRIBED STOCKWar Loan, 193S, 4J 97 10 0 — Ditto, 1939, 4 j p.c. 97 10 0 Ditto. 1933. 5* p.c. 99 0 0 Ditto, 1936, 5i p.c. 99 0 0

Aust. of Commerce 1 4 0 5 16 8 Australasia 12 10 0 12 0 Com. of Australia. 1 L 10 b 17 Eng., Scot., & Aus. 6 lb 0 11 1 National of N.Z. 6 0 11 1 Nat. of Australasia 14 12 b 19 Ditto (con.) .. .. 7 0 0 7 2 0 New South Wales.. 39 0 0 7 New Zealand .. .. 11) 0 4 U Union of Aus. INSURANCE— 11 lb 0 ° b 3 National .. •• .. 0 14 4 5 4 7 New Zealand .. .. 2 4 6 4 2 4 South British .. .. .3 2 0 a 3 4 LOAN AND AGENCYDalgety and Co. .. 11 2 fi 7 12 9 Goldsbrough Mort. . N.Z. and River 1 10 6 9 lb 9 Plate Wellington Invest. 1 9 0 6 4 1 Trust 0 11 0 5 18 2 COAL— Pukemiro Renown (new issue, 3 S 0 Id 5 10 pref.) 0 9 Taupiri GAS— 1 b 0 7 13 10 Auckland Iiuddart-Parker 1 3 s 6 15 2 (pref.) 0 ID 11 fi 0 6 Northern Steam . . 0 14 8 Union Steam (pref.) TIMBER — 1 0 6 1 3 Kauri Timber .. .. 0 14 0 5 7 2 WOOLLEN — Kaiapoi (con.) .... 0 8 7 12 9 N.Z. Breweries 13 12 J. Staples MISCELLANEOUS— 2 k 6 u 1 Beatli and Coy .. 1 7 6 7 5 5 British Tobacco 0 ID Burns, Philp .. 1 lb <5 Colonial Sugar . . Electrolytic Zinc 40 0 0 b ° 0 1 0 12 11 Farmers’ Trading . 8 b y Hayward’s Pictures Milne and Choyce 0 13 0 - 13 1/ 0 (deb. stock) .. .. 1 b 9 19 8 Mount Lyell 1 13 9 11 17 0 Quill Morris .. .. 0 13 10 11 Taranaki Oilfields . Union Oil 1 1 15 0 5 14 s Victoria-Nyanza . . 1 ID 7 12 10 Wellington Meat .. 0 8 9 W ilsons Cement .. 1 19 a a