FARMING AND COMMERCIAL

Manawatu Standard, Volume LII, Issue 51, 30 January 1932, Page 5

FARMING AND COMMERCIAL

MILK AND BUTTERFAT

PRODUCTION IN THE MANAWATU.

The continuous dry weather is causing a decrease in milk production. . • The Newbury Co-operative Dairy Coy., Ltd., is producing 9 cheese of 85lbs each daily, compared with 12 in December. Iho moht’hly payouts is 9d.. Makowhai Co-op. Dairy Coy., Ltd. The Makowhai factory is manufacturing ,25 cheese daily compared with 29 this time last month; 9d was tho last pay-out. Taikorea Co-op. Dairy Coy., Ltd.—The Taikorca factory is producing 27 export cheese daily, compared with 31 m December; .21,0001bs of milk are being taken in daily as against 24,000 in December. December’s pay-out was lOd. . Awahuri Dairy Coy., Ltd.—Tho Awahuri Coy. is manufacturing 150 561 b boxes of buttor daily, a drop ot 14. to 15 boxos daily compared with this tim© in December. Tho monthly payout was 9d. Rongotea Co-op. Dairy Coy., Ltd.—Tho Rongotoa factory is making 130 561 b boxes of butter daily, comparod with 145 in December. Tho payout for Decomber was 9d. Ninopenco is a uniform payout for all buttor factories at Jhe present time.

FARMING NEWS. RURAL RAKINGS. Traces of tick infestation have been found on cattle in the Wairoa district, and also on some dairy cows at Nuhaka., , After bein£ rigorously kept in check for a number of years through the activitice of the various rabbit boards and the Department of Agriculture, the rabbit pest is starting to increase slightly once more in Canterbury. The Agricultural Department, it is understood, is taking active steps in tho very near future, to combat the post and reduce its numbers. The increase in the number of rabbits is a direct result of the depression and the dry season. Farmers have been unable to find tho money or the labour to deal with rabbits, and the boards have been up against it. Also, the dry season has been very favourable to the prolific breeding of the animals. No outbreaks of cattle plague has been reported, in Great Britain since 1877. Thiß fact emerges from a Government report upon animals’ diseases in the United Kingdom. Britain has also been clear of pleuro-pneumonia since 1898. It has had no outbreak of sheep pox sinoo 1850 nor epixootio lymphangitis since 1906, nor of rabies since 1922. On the other hand, it has lately suffered 2408 confirmed outbreaks of swine fever, with 1071 head slaughtered in a year (1930); 478 outbreaks of sheep scab, 201 outbreaks of parasitic mango (with 300 horses attacked), 392 outbreaks of anthrax (with 432 cattle affected), and other ills. Approximately 15,000 cattle were slaughtered during 1930 for bovine tuberculosis. The Ayrshire breed of cattle sprang from the northern division of Ayrshire, a humid county on the south-west coast of Scotland. The evolution of tho modem improve breed began between 1750 and 1780. The earlier Ayrshire was small, inferior, irregularly shaped, with short, crumpled horns, and of a brown, black or black or whito colour. During tho latter half of the nineteenth century the breed spread to _ the southern parts of Ayrshire, and into Wigtown and Dumfriesshire, where, on account of the growth in the practice of cheese-mak-ing, it replaced the original Galloway breed. The udders of Ayrshire cow 3 that are found Winning in tho milking classes at Home are practically perfect in form, and unequalled in any other breed. ' In Now Zealand the term “crossbred is appliod to tho qualities running from 36’s to 48’s—tho Lincoln, tho Leicester, and Romney types. Fine wools, 48’s up to 60’s, are classed as halfbrods and over 60’s as Merinos. In London every grade under Merino is called crossbred. At tho present timo tho demand, whether in New Zealand or in London, is strongest for halfbrods, that is, 48’s up to 60’s. Soma of tho quotations cablod from London in respect to tho last sale, 8d and over for crossbreds, wore actually for halfbred wool, and should not bo confused with the quotations for crossbred wool, 'which are actually ranging from 5d to 6Jd, according to tho cabled reports. Crossbreds are admittedly selling at low figures in all selling centres. This, it is said, is duo to fashion running to tho finer wools. Another factor, and an important one, is tho largo supply of crossbreds available from South America, where the clip is larger than the Dominion output by about 50 per cent. Furthermore, the advantage to the South American grower from the exchango —South America on London —is 34 per cent. In the Dominion it is only 9§ per cent. Therefore, tho grower in South America is receiving .aprpoximately for wool for which tho New Zealand grower receives 6Jd. When growers complain that prices are low in New Zealand, they havo only to look at the prices quoted from London and to realise that South America is in a better position to sell its largo output owing to tho favourable exchange. They must also realiso that buyers are paying in the Dominion full world’s parity for crossbreds. There is, and can be, nothing in tho suggestion that prices are down here becauso of any local conditions.—Otago Daily Times.

WELLINGTON SKINS AND HIDES . j-';. . . ■ SALE, The fortnightly sale of skins, hides and .tallow was held at Wellington yesterday. Brokers report as.follow: There was a good attendance of buyers. Hides: Compared with late rates, heavies, mediums and lights on a par; kip, yearling and calf id to id' higher. Ox. 331bs to 441bs, 4Jd; 451ba to' 521bs, 3id to 4£d; 531bs to 591bs. 3£d to sid; 601ba to 691bs, 4gd to sgd; 701b.s and over, 5d to 6gd; oow, 331bs to 39lbs, 3id to 4id: 401 bs to 481bs, 2id to 4Jd; 491bs and over, 4gd to.4Jd; kip, 251bs to 321ba, 2gd to sd: 171bs to 241ba, Id to 4id; yearling, lllbs to 161 be, 2d to 4ld; calf, 91bs to lOlbs, 2d to 43d; 61bs to 81bs, Id to sd; lib to 51bs, Id' to sid. Sheepskins: On a par with late rates. Dry: Halfbred, 2Jd to 4id; fine crossbred, 3Jd to 4gd; medium crossbred, 2id to 3Jd; coarse crossbred, 2id to 3id; half ‘wools, 2id to 3d; quarter wools, Id to 2Jd; pelts, Id to lid. Salteds: Pelts, 8d; quarter wools, lid; lambs, 9d. Tallow: Late rates maintained. In casks, 13a to 16a; in tins, etc., 4s to 12s 6d.

DAIRY PRODUCE.

The N.Z. Loan and Mercantile Agency Coy., Ltd., advises that the following cable has been received from their London house under date of the 28th instant: —Butter: N.Z. choicest salted, 100 s. Cheeße: White, 59s 60s; coloured, 58s, 595; market steady. Dalgety and Coy,, Ltd., have received the following advice from London under dato of 28th instant:—Butter: Market' firm and dearer owing to tariff possibility .and landings delayed by strike. Danish, 118 s to 120 s (116 sto 118 s); N.Z. finest salted, 100 s to 102 s (95s to 975); Australian finest unsalted, 106 s to 108 s (104 s to 108 s); Australian finest salted, SB3 to 100 s (94s to 965); Australian g.a.q., 92s to 96s (90s to 935). Cheese: Market firm and dearer owing to landings delayed by strike. N.Z. whito, 59s to 61s (56s to 575);. N.Z. coloured, 58s to 59s (55s to 565); spot price for Canadian white, 68s to 70s (66s to 70s); 'spot price for Canadian coloured, 68s to 70s (66s to 70s). (Last week’s quotations are shown in parentheses). ' '

V PRODUCE PRICES. " ’» LONDON, Jan.. 22. ■ Wheat cargoes to-day were dull. Sellers were willing to lower thoir terms for Manitobas and occasionally for ’Australians owing- to Shanghai trading having coasod temporarily. Parcols woro quiot, Manitobas and River Plates boing sold occasionally at 3d advance. Others wore unchanged. Parcols ex City of Mandalay sold at 26s to' 26s 6d a quartor. -Futures: London, February, 23s 3|d a quarter; Juno, 23s 9id. Liverpool: March, 4s lid. per cental; May,:ss l|d; July, 5s 4d. ; The spot trade is slow and prices are mostly easier; Australian, ex ship, 28s 3d to 29s 6d. Flour' is steady; Australian, ex store, 20s to 20s 6d a sack. Oats aro irregular. Peas and boans aro steadily held. NEW YORK, Jan. 28. Chicago wheat: March, 55f cents; May, 571 cents; July, 58i cents; Soptombqr, 59J cents, Now York, cash, 70g cents.

FEILDING STOCK SALE.

A LARGE YARDING. The 'iirst of the season’s large yardingß of sheep came forward ot Feilding, yesterday, when about 13,000 sheep, principally storos, were offered. The continued spell of dry weather in other districts as well as the Manawatu caused a heavy influx of Bheep from far afield, the yarding including a large consignment of rapa stock. Buyers were representative of the whole of the Wellington province, as well as the Taranaki, Hawke’s Bay, and Main Trunk districts. For store sheep thero was a ready demand with practioally a total clearance, but fat sheep were in erratio demand. Ewes were on a par with last week’s rates, but values for lambs and wethers declined. In the cattle section, whore the store yarding wits heavy, prices were low and stocka hard to quit._ Fat cattle wore also in slow demand, while dairy stock attracted little attention.

Detailed quotations are as follow: Fat Sheep.—Ewes, 5s 6d, 6s 4d, 6s 7d, 6e 9d, 7s Id, 8s to 12s; lambs, 6s lOd, 8s 4d 8s Bd, 9s Id, 9s 6d, 11s to 15s; wethers, 9s,’ 9s 4d, 9s 9d, 10s, 10s 6d, lls 2d to 12s. ’ Store sheep.—W.F. wether lambs, 4s 6d, 4s Bd, 5s id, 5s lOd, 6s, 7s lOd to 8s Bd.; ewe do.; 4s 3d, 5s 8d; b.f. do., 5s sd, 5s lOd, 6s 6s sd, 6s 9d to 8s lid; cull lambs, Is lOd, 2s 6d to 3s 6d; 2th wethers, 5s Bd, .7s Id to 8s sd; 2th ewes, 8s Id, lls 3d, 12s 7d; 4th do., 12s; m.a. do., 7s; 4yrs. do., 10s. * Fat cattle. —Heifers, £2, £2 ss, £2 Bs, £2 17s to £3 10s; qows, £1 6s, £1 14s, £2, £2 13s 6d, £2 16s to £3 10s. Store cattle. —Forward 3-4-year bullocks £2, £2 10s to £3; 2-yr. steers, £l, £1 5s to £1 10s; P.A. yearling heifers, £1 Is; heifers, r.w.b., 18s 6d, 245, 31s, £2 7s, £2 lls, £2 15s to £3 16s; weaner heifers, 10s, lls 6d, 14s 6d to 295; store cows, 10s, 15s, 16s, 20s, 225. Dairy Stock. —Heifers, r.w.b., £2 10s to £5 7s 6d ; springing cows, £1 10s, £3 ss, £3 12s 6dl £4 7s 6d to £5 10s; cows an milk, £l ,10s. ■.. > ■ AUCTIONEERS’ REPORT. At tho Feilding salo Associated. Live Stock Auctioneers, Ltd. report having an entry of some 10,000 store shoop comprised chiefly of breeding owes and white and black face lambs. Thoro was a keen demand for tho better class and rapo lambs, a sustained enquiry for the yarding generally and almost a total clearance effected • at auction. A modorato penning of fat sheep sold at late, rates, and a like entry of fat cattlo showed an casing in values. Storo cattlo in fair numbers . comprised principally grown bullocks, heifors r.w.b. and weaner calves but a number failed to reach vendors’ reserves. For tho-few dairy cattle that came under tho hammer there was bidding only for those showing quality. Fat Sheep: Light fat lambs, 8s 4a, 8s Bd, 9s Id 9s 6d, lls; odd extra heavy fat lambs, 15s; fat owes, 5s 6d, 6s 4d, 6s 7d, 6s 9d, 6s lOd, 7s Id, 8s; fat 2-th wethers, 10s 6d, lls 2d, 12s, 12s Id. Storo Sheep:’ W. F. wether lambs 4s 6d, 4s Bd, 4s 9d, 4s lOd, 5s Id, 53 10d, 6s, 7s lOd, 8s 8d; small w.f. lambs Is lOd, 2s 6d, 2s 9d, 3s; small owe lambs, 4s 3d, 5s 8d; b.f. lambs, 5s sd, 5s 7d, 5s Bd, 5s lOd, 6s, 6s 3d, 6s sd, 6s 6d, 6s 7d, 8s lid; small b.f. lambs, 2s, 2s 6d, 3s; 2-th wothors, 7s Id, 8s 2d, 8s 4d, 8s sd; cull 2-th wethors. 5s 8d; 2-th ewes, lls, lls 3d, 12s 7d; cull 2-th ewes, 8s Id; 4-th ewes, 12s; 4-yr to 5-yr ewes, 7s; 4-yr. owes, 8s 7d; empty cull ewes, Is, Is lOd; a lino of 1900 4-yr ewes realised 10s 3d. Fat Cattle: Fat heifers, £2, £2 ss, £2 Bs, £2 17s; fat cows, £1 6s, £1 19s, £2, £2 13s 6d, £2 16s, £2 17s, £3; fat cows and heifers, £3 10s. Storo Cattlo: Coloured bullocks, £1 10s, £2, £2 10s, £3, £3 15s; small 3-yr P.A. steers, £2 15s; P.A. yearling heifers, £1 Is; yearling steers, £1; Jersey heifers r.w.b., 18s 6d, £1 ss, £1 12s 6d, £2 7s, £2 lls 6d, £2 15s. £3 16s; weaner Jersey Cross heifers, 8s od, 10s, lls, 14s 6d, 15s, 295; storo cows, 10s, 15s, 16s, 18s, 19s, £l, £1 2s 6d. Dairy Cattlo: Springing heifors, £2 10s, £5 17s 6d; springing cow 3, £2 ss, £2 12s- 6d, £4 7s 6d, £5 10s; cows in milk, 30s, 355.

FEILDING MART. j Prices realised at the mart in Feilding yesterday were as follow Poultry: Hens,' 9d to Is 7d; cockerels, Is 3d to I 3 lOd; ducks, Is Id to Is 6d. Pigs: Weancrs, 3s to 8s; slips, 5s to 12s; stores, 12s to 16s; porkers, 163 to 225. Largo entry with poor demand for small pigs.

INVERCARGILL WOOL SALE. Per Press Association. INVERCARGILL, Jan. 29. At the first Invercargill wool sale there was a representative bench of buyers with a good snowing of fine crossbreds and a fair percentage of fine quality hogget wool. The major portion of the offering was in light condition and attractive. Competition for fleece wool was very keen, Continental and Bradford buyers being the principal operators. French representatives secured the bulk of the bellies and pieces. For halfbred wool the Dominion mills would not be denied, and secured the best? The catalogues included some very nice lines of hogget wool for which Southland is noted, and for these bidding was excited- and excellent prices were realised. The highest price of. the 6ale was 10Jd, which was paid for a nice line of Corriedale. Approximately 83 per cent, of the offering was disposed of. Following is the official range of prices:— Merino— d. d.

BRADFORD MARKET. LONDON. Jan. 28. The Bradford tops market i 3 firm. To-day’s quotations compare as follow with those previously cabled:— ' Jan. 7. Jan. 14. Jan. 21. Jan. 28. Per lb. Per lb. Per lb. Per lb.

Dalgety ■ and. Coy Ltd.- have •. received the following advice. Trom London dated 28(h inst: ‘\No wool sales have been held to-day owing to thick fog. Sales close 2nd February if there is no further interruption.”

WELLINGTON PRODUCE MARKET. (By Telegraph.—Special to -“Standard.”) WELLINGTON, Jan. 30. Business has been quiet this week, though quotations aro fairly well maintained. Wheat, owing to Marlborough competition, has declined to 6s a bushel; under grades 3d loss. Potatoes: Local, ,6a to 6s 6d per cwt. Onions are in good supply. Pukekohes are 9e per bag; Australian 14s to 15s per cental, while Canterbury are on offer and will be selling at 8s 6d per owt., Bran, £6 per ton. Pollard, £6 10s per ton. Chaff: Blenheim oalshcaf, £6 10s per ton, sacks in. Maize: New Zealand, 5s 6d per bushel; South African cracked, 5s 3d to 5s 6d. Oats: A grade Gartons 3s 9d per bushel, B grade 3s sd; heavy manchine-dressed Dunnes, 5s 9d. ' V

WELLINGTON STOCK EXCHANGE.

YESTERDAY’S BUSINESS AND PRICES. . , _ There was a fair demand yesterday on the Wellington Stock Exchange for Government stocks and bonds, and for bank shares and gas shares. Government securities were steady. The 4i per cent, stocks and bonds were in j good demand at £94 12s 6d, and sales were 1 reported at £94 15s. The 54 per cent, j stocks, 1936, were unchanged at £99 ss; f the 54 per cent, stocks and bonds, 1937, were firm at £95; the 54 per cents., 1941, were 5s higher at £95 15s. Rural Advances, 5 per cent., 1947, were in demand at £BS IQs with no sellers. Thero was a slightly better demand for bank shares. Commercial Bank of Australia at 14s lOd were firm and unchanged. English, Scottish, andi Australian Bank were wanted at £4 6s. They were sold in Dunedin on Wednesday at £4 Bs. Bank of New Zealand at 44s 3d were up 3d. Union Bank of Australia were on sale at £7 15s, cum. dividend; they sold in Christchurch on Thursday at £7 lls. Dalgety and Coy at £7 8s were down 6d. Goldsbrough, Mort and Co., were firm at. 23s 2d. N.Z. Guarantee Corporation, ordinary, were wanted at 4s 3d, with no sellers. Gas shares were in good demand, Auckland Gas at 22s 6d, Christchurch Ggs at 26s lOd, and Wellington Gas at 26s 9d, all cum. dividend. Goar Meat changed hands at 28s, -and there were sellers at 28s 6d. Huddart-Par-ker, ordinary, were firm at 21s ‘6d, and Union Steam at 19s 9d. Tooth and Co. at 23s 3d,were up 3d; Electrolytic Zinc, preference, were steady at 2Cte 3d. N.Z. Drug were 1 wanted at 455, with no sellers, Woolworths, preference, wore firm at 24s 6d. Mount Lyell were wanted at 20s 7d, and Waihi 16s 7d. YESTERDAY’S QUOTATIONS. Buying and selling quotations at yesterday’s final call on the Wellington Stock Exchango were as follow: Buyers. Sellers. N.Z. GOVT. LOANS— £ s. d. £ s. d. 44 p.c. bonds, 1938 ... 94 12 6 ' 54 p.c. bonds and Ins.

YESTERDAY’S SALES. Tho following sales were recorded on the stock exchanges of the Dominion yesterday : Wellington.—lnscr. Stock, 4? p.c., 1958, £94 15s; 4i p.c., 1938 (2), £94 15s*; Gear Meat, £1 Bs. (*Late sale Thursday). Christchurch.—lnscribed stock, 5i p.c., 1937, £99 10s; Commercial Bank of Aust., 15e Id, 15s; Bank of New Zealand, £2 4b sd; Goldsbrough, Mort, £1 3s 6d; Golden Ddwn, 7s 7d, 7s 6d; Waihi Grand Junction (3), 3s lid. Sale reported: Inscribed Stock, 5i p.c., 1937, £IOO, £99 10s. Dunedin. —Kildare, Is 9d.

' AUSTRALIAN SHARE MARKETS. SYDNEY, Jari. 29. Australian Consols wore slightly :firmer to-day, with a tendency by buyers to advance their limits —mostly early maturing issues wore in favour. _ The Prime Minister’s announcement hinting at an early revision of the sugar agreement naturally depressed Colonial. Sugars, which fell to £45 ss, but as the Colonial Sugar Company has repeatedly stated, its profits arc made from refining,. not as a result of the sugar agreem'ent, it is confidently expected that tho shares will soon overcome this weakness. Bank of New South Wales fell 2s 6d to' 230, and Commercial Bank of Sydney wore steady at £l6 15s. Sales were:—United; Insurance, £8 12s 6d; Henry Jcnes, 283 3d; Burns, Philp, 395; Australian Gas A, £5 15s;' Australian Glass, 335; Tooths, 275; Toohcys, 17s 9d; Goldsbrough Mort, 26s 9d; British Tobacco, 30s; Elootrolytic Zinc, pref., 24s

4id; North Broken Hill, 68s 3d; Mt. Lyell, 23s 6d. Morning sales: Commonwealth ■ fours, 1938, £94 10s; 1944, £93 10s; Bank of New South Wales, £3O -2s 6d; Goldsbrough, Mort. 26s 6d; Winchcombe Carson, 19s bd; Mount Lyell, 23s 6d; Millaquin Sugar, 26s 6d, ex div. * ■; MELBOURNE,-Jan. 29. Early sales were: Electrolytic Zinc, prof., 24s 6d; Mt. Lyell, t 23s 3d; Henry Jones, 28s 6d; Zinc Corporation, 31s 3d; Broken Hill Proprietary, 16s . 4d; Dunlop Perdiau, 13s sd. • MONEY MARKET. BANK OF ENGLAND RETURN. Received January 29, 10.25 a.m LONDON, Jan. 23. The following is the Bank of England return: ISSUE DEPARTMENT. £ Note issue in circulation 345,868,570 Banking department 49,884,768 £395,763,338 ' £ Government dobt 11,015,100 Other Government) securities ... 245,151,821 Other securities* 14,982,502 Silver coin 3,850,577 Gold coin and bullion 120,763,338 £395,763,338 BANKING DEPARTMENT. £ Proprietors’ capital 14,553,000 Rest 3,547,818 Public deposits 15,321,152 Other deposits, banks 74,304,019 Other accounts .•. 38,208,098 Seven-day and other bills i 1,017 £145,935/104 Securities — £ Government 45,310,906 Discounts and advances 12,946,728 Notes 49,894,768 Other securities .... 37,196,207 Gold and silver coin .7.. 586,495 , £145,935,'104 » -- • i Proportion of reserve to liabilities 39.40 per cent, short loans 4i per cent., three months’ bill 51 per cent.

METALS MARKET.

SYDNEY, Jan. 29. The official London. (middle; quotations for Thursday, as received by the Australian Mines and Metals Association, _ compare as follow with those previously

LONDON SHEEPSKIN SALES. LONDON, Jnn. 28. At the sheepskin sales to-day 7700 bales were offered, and about 6000 were sold. There was good Home and Continental demand. Compared with December rates Merinos sold at par to 5 per cent, dearer, comeback and combings sto 10 per cent, up, others were unchanged. All poorconditioned and short skins were neglected. Dalgety and Coy., Ltd., have received the following advice from London - dated ‘January ~ 28: Average attondahee, good demand from Homo Trade and Continent. As compared with closing rates of last series Merino, par to 5 per cent higher; Australian comeback, 5 per cent to 10 per cent higher; Now Zealand half-bred, 5 per cent higher; crossbred medium to coarse unchanged, except very little demand for short low grades < and badly . pelted. > HAWKE’S BAY RAM FAIR. Per Press Association. HASTINGS, Jan. 29. ■A; complete clearance of all Southdown flock rams was effected at the Hawke’s Bay ram fair, which concluded to-day. Bidding was keen, and last year’s prices were bettered by lOfTper cent. Prices for stud rams also improved. The top price for Romney studs was -26 guineas/ and the best price for Southdown studs 35 guineas.-

~ Average ... • .. 7J to 82 Corriodale— • Super .. 9A to 102 Average .. 81 to 94 56/58 a— Super ... .. 92 to 102 Average .. 8£ to 92 Inferior .. . 6i to 8 50/66 , s— Super ... .. 9 to 92 Average , ... .. 72 to 82 Inferior ...' .'. .. 54 to 74 48/50’s — Super . ... , .. 8 to 9 Average ... ..■ 64 to Inferior ... ...' ... .. 5 to 6 46/48’e— ,■ Super m ... .. 64 to .72 Average .. .... ... .. 44 to 64 Inferior . ... .. : 34 to 44 44/46’s — 64 Super ... ... ... .; 54 to Average ... .... ..." .. 4 to 4 Inferior ... ... ..1 ... 3 to 32 Hogget— i>me crossbred .... ... .. 74 to 82 Medium ... .. 54 to 74 Crossbred Pieces— 64 Good to super .. 4 to Low to medium .. 24 to 33 Bellies— Good ... ... ... .. 4 to Average ... ... ... .. 2J to 32 Crutchings— 1 .. 2J to Medium to good 4 1 Inferior and seedy .. 1 to 13 Crossbred locks .. 1 to 12

d. d. d. d. Seventies 26 26 26 264 Sixty-fours ... 231 24 234 234 Sixties 22| 22A 22 22 Fifty-sixes ... 19 174 174 174 Fifties .... 124 124 123 Forty-sixes ... Ill 104 ■1 94 9J Forties .... 104 94' < .9 : 9

Stock, 1933 — 99 10 0 5£ p.o. ditto, 1936 99 5 0 — 54 p.c. ditto, 1937 95 0 0 — 4i p.c. Ins. Stk., 1939 94 12 6 95 0 0 51 p.o. ditto, 1937 — 100 5 0 5i p.c. ditto, 1941 95 15 0 — 04 p.c. ditto 1955 — 98 10 0 ltural Advances, 5 p.c., 1947 85 10 0 — DEBENTURES— Well. Racing Club ... — 100 0 0 Auckland and Chch. City, 54 p.c., 1944 ... 97 0 0 — Dunedin City, 5£ p.c., 1944 98 5 0 — Well. City and Harb Bd., 54 p.c., 1940 98 5 0 — Otago Harb Board, 53 p.c., 1938 — ±102 6 0 Wanganui City, 54 p.c., 1943 — 97 0 0 Ditto, 53 p.c;, 1943 • — 99 0 0 Ditto, 53 p.c., 1940 — 99 5 0 Thames County Counoil, 54 p.c., 1959 — 95 0 0 Makcrua Drn. Bd., 6 p.c., 1950 — 96 10 0 BANKS— Commercial Aust., ord. 0 14 10 — Eng., Scot, and Au6t. 4 6 0 — New South Wales ... — 27 10 0 New Zealand 2 -4 3 — Union of Aust — *7 15 0 FINANCIAL— Dalgety and Co 7 8 0 Golasbrough Mort 13 2 — 1 3 10 National Mortgage .... — 2 0 0 N.Z. Guar. Corp., ord. 0 4 3 — N.Z. Invest,, Mt g. and Deposit — 0 9 9 N.Z. Loan and Merc.', ord — 45 0 0 Well. Invest. T. & A. — 0 10 0 Well. Deposit and Mtg. — 0 9 10 GAS— Auckland 1 2 6 .*1 4 0 Christchurch 1 6 10 # 1 8 0 • Christchurch, contr. ... 0 12 7 — Wellington, ord 16 9 Wellington, prof. 0 15 11 — — MEAT PRESERVING— Gear * — 1 8 6 TRANSPORT—, 1 6 Huddart, Parker, ord. 116 0 Union Steam, pref. .... 0 19 9 — Kelburn Tram, ord. -....' — 1 8 3 TIMBER— Kauri — 0 11 0 Leyland-O’Brien — 1 2 0 National — 0 6 0 Taringamutu Totara . — 0 5 0 Bartholomew — 0 13 6 BREWERIES— New Zealand — 1 6 3 Staples and Co — 1 7 6 Tooth and Co 13 3 — MISCELLANEOUSBritish Tobacco, ord. — 1 7 3 Burns, Philp and Co. — Dental and Medical ... 0 4 6 1 17 6 0 5 7 Electro. Zinc, pref. ... 10 3 Howard Smith, ord. ... — 0 10 0 N.Z. Drug 2 5 0 — N.Z. Paper Mills 0 17 6 — Wool worths, pref 1 4 6 MINING— Mt. Lyell \ 1 0 7 — Waihi 0 16 7 — Blackwater — 0 4 7 Consolidated Goldfields ' — 0 1 7 *Cum. dividend. and prinoipal payable in London.

Copper— Jan. 26. Per ton. £ s. d Jan. 28. Per ton. £ s. d. . Standard, spot 39 0 38 0 7£ Standard, forward 39 3 1* 38 3 1£ Electrolytic 46 0 0 45 0 0 Wire bars to . Z 46 10 0 46 10 0 14 18 9 14 10 0 forward 15 0 0 14 12 6 Spelter— 14 8 9 14 2 6 Forward 14 16 3 14 10 0 Tin- . 140 6 3 138 8 9 Forward 143 6 3 141 6 3 Silver— per oz .. 19 5-16d 19 l-16d Fine, per oz 2013-16d 20 9-16d