Western Mail from Cardiff, South Glamorgan, Wales • 16

STOCK LONDON STOCK EXCHANGE BRITISH FUNDS FALL SHARPLY Weak Spots Among Industrials By Our City Correspondent LONDON, Monday. Stock Markets opened the second week of the Account under the shadow of Wall Street's heavy week-end slump and continued political doubts In France, Spain and Central Europe. The result was an easier tendency for British Government Stocks and Home Industrials gave way, profit-taking in sonic of the issues which rallied substantially last week sending prices back to lower levels. Business in speculative markets was on a small scale, but weakness of the Paris Bourse severely affected 0:13 and Gold Mines. The former were one of the heaviest sections of the "House owing to uncertainty as to the effect of the Mexican expropriation.

Base Metal Issues were also weak consequent on the fall in silver on the idonday's Features Closing price. Tvre-and-a- Half per Cent. 731 British Insulated LIM Oe Seers Deferred Of 01.11111114$ London and TIMMINS Maven Oil Rhokana thin "Moll" Cioolno Eight par Cont. --7-1111 --i United State's decision to cease purchases from Mexico. Rubbers were a nervous market pending 'so-morrow's important quota decision of the 1.R.R.C..

and there was not enough business in general markets to sustain prices. Wall Street came in dull. but after the close of the London Market Transatlantics took a sharp turn for the better. GILT-EDGED DECLINE British Government Stocks finished practically at the lowest of the day, Two-and-a-Half per Cent. Consols dropping 7-16.

while Local Loans finished 5-18 lower and War Loan at 101 9-16 dropped 1. Four per Cent. Consols were comparatively steady but Four per Cent. Funding gave way to 111 and the shorterdated issues were Ito down. Home Rails were lower throughout, North Eastern Preferred falling away to 6, while Southern Deferred at 191 dropped 11-16.

London, Midland and Scottish were fairly steady at 211 but Westerns were dull at 541 and Prior Charge Stocks were barely maintained. INDUSTRIALS FLAT Most of the Industrial leaders finished substantially down on the day. British Oxygen dropping 2s 6d at 73s 9d, while Aluminium were Is down and Imperial Chemicals eased to 30s 11d. Molasses at 21s were affected by Transatlantic weakness and Turner and Newell eased to 77s 6d. Iron, Coal and Steel is ues were marked down a few pence though sales were small.

Richard Thomas eased further to 5s 4id on reports of lower Welsh steel production and Baldwins were dull at 6s 71d. Vickers were steady around 225. but Tredegar and Powell Duffryn were dull in the Colliery Section, and Carlton Main eased to 16s lid. AUSTIN'S RALLY Among Motors Austins rallied to 27s 6d after 26s lOid and Leylands were a good feature at 78s 9d, but Ford were dull at 20s 3d. Bristol were subject to profittaking in the Aircraft Group, dropping Is at 495.

Hawker Siddeley and Boutton Paul closed firm, but Imperial Airways weakened to 22s 3d. Transatlantic Issues finished well above the lowest when New York staged a rally. U.S. Steel being 45 after 431 while Nickel were 45f after 451. Tractions were higher on the day at 81.

HALIFAX BUILDING SOCIETY Sir Enoch Hill Retires From General Managership Sir Enoch Hill, president and general manager of the Halifax Building Society. announced at the annual general meeting held in Halifax on Monday evening his impending retirement from the general managership of the society. "This is the thirty-sixth annual general meeting which I have attended in my capacity as manager. and during the last eight years as president." he -lid. "I have been suffering lately from some degree of impaired health, and I am bound to recognise that the position I hold as general manager requires not only long experience and sound judgment, but a happy physical condition.

SOCIETY'S SOUND POSITION "I have therefore asked the directors of this society to permit me to relinquish my position as general manager at ar early date at the society's convenience. They have resolved regretfully to accept this retirement, and therefore I can only thank them and all the members and officials repre here to-night for the unfailing and unbroken confidence that they have placed in me and the kindness they have shown to me through my long association. I shall be glad to lay down my office with the knowledge that the society is not only larger but more prosperous than ever, and that it is in an extraordinarily sound financial position without a blemish upon its balance-sheet." Sir Enoch Hill's in page IS. WESTEEN MAIL SOUTH WALES NEWS, TUESDAY, MARCH 29, 1938. MARKETS REFLECT LACK OF DEMAND SILVER FALLS SHARPLY ON U.S.A.

DECISION Brass Founders' 10 P.C. Cash Bonus slump in Wall Street, the decision of the United States to suspend purchases of silver from Mexico, and confusion in the franc and the Argentine and Chinese currencies combined to intensify the depression in the Stock Exchange. It was not a case of acute selling pressure but the almost complete lack of support from buyers owing partly to the obscure political outlook and the feeling of nervousness concerning the approaching Budget. Even in Gilt-edged Stocks dealers were unanimous in declaring that business had not been slack for a long time past, and it is in times like the present when capital usually drifts into this group. There was, it is true, some offering of Kaffirs, from Paris, and Oils from Amsterdam, but even on sharp falls in prices takers" on this side were reluctant to buy.

and so everywhere else values sagged regardless of individual merits. Similar conditions ruled in base metals, rubber, and several other commodities. Incidentally, the decision of the International Tin Committee to postpone the meeting convened for Tuesday next to consider the quota basis was unexpected. Apparently the reason is to wait the result of the plebiscite in Malaya on Monday next to decide about a buffer pool. TO-DAY'S RUBBER DECISION Rubber was the centre of considerable interest because a conference of the International Regulation Committee has been convened for to-day to decide whether or not the exportable quota should be changed.

Although the increase of 677 tons in United Kingdom Stocks on the week was below estimates the commodity was flat most of the day, closing 6 3-16 per lb. spot, a net fall of 3-32 d. For the current quarter the quota Is 70 per having been reduced from 90 per cent. last year. and that for the pending quarter has been provisionally fixed at 80 per cent.

Even this, in the opinion of some authorities, is too high having regard to the serious decline in United States consumption and the risk of a further contraction in the absence of any signs of the expected spring revival in the industry there. SILVER'S SENSATIONAL FALL The decision of the U.S.A. to suspend purchases of Mexican silver as a reprisal for the expropriation of the American-owned oil wells conforms to the views expressed in this column when the Mexican Government originally threatened the Mexican Eagle Company. It is a decision which may have farreaching consequences on the economic position of the Republic, because silver mining along with the oil properties are the chief sources of wealth. Because of its silver policy the United States is the main support of the metal, which is no longer a currency basis in India or China, although it is stored by both and handled in large quantities as a commodity.

Deprived of the outlet to the U.S.A. the future of the metal is jeopardised, hence the sharp fall of jd to ltd der ounce biggest movement for some time past. This was not due so much to panic selling by the East but rather to lack of buying. CURRENCY SHOCKS Violent disturbance of the Argentine and Shanghai exchanges was a feature of the Foreign Exchange Market in addition to the pressure on the French franc. Argentine pesos slumped again to 20.05 to the in the free market against Telegraph Condenser's Payment Reduced year, though earnings amounted to 43 per cent.

on the £165,000 of ordinary capital. Registered in 1925 this company has a wonderful dividend record, having paid 20 per cent. tax free, every year since 1928. For 1935 a 50 per cent. share bonus was also distributed.

The yield on the £1 shares at £5 15s is nearly 51 per cent. tax free, or 71 per cent. gross. CONDENSING DIVIDEND Registered in 1933. Telegraph Condenser Company paid a dividend of 10 per cent.

per annum in its first period. For 1934 and 1935 20 per cent. was paid, but 1936 saw a sharp reduction to 10 per cent. Now the dividend is further reduced to 5 per cent. The company has suffered from the violent competition in the radio manufacturing industry, and evidently this was intensified last year.

Only in June last the chairman hoped for a record year's turnover and better results from the re-organisation of the works. MR. ROLAND A. KIRKBY, who has been appointed managing director of General Refractories, Ltd. SOUTH WALES FINANI By OUR CITY CORRESPONDENT 19.821 on Saturday.

This is a new low record for the peso since it was quoted in its present form at the beginning of 1935. The reason for the fall is deterioration in the foreign trade position consequent upon disappointing crops. The sharp reversal of the prosperity trend has caused a flight of capital from the country. Now it is feared that continued pressure may cause Argentina to curtail British imports at present admitted on a 16 pesos to the basis. The collapse in the Shanghai exchange to 114 sellers follows a prolonged attempt to maictain the rate at over Is 2d in the face of shrinking exports and large war expenditure.

A rationing system of available exchange is in force at Hankow and Hong Kong. but the outlook for export trade to China is blackened by the new exchange breakdown. FOUNDERS' SONUS Harrison (Birmingham), metal rollers and brass founders, announce a cash bonus of 10 per tax free, in addition to the usual 20 per tax free, dividend. No bonus was paid last Little Business and Few Price Movements Bank rate 2 per fixed June 30,1932. Settling days, April 7 and 21.

Oil Mexican Eagle. OW. Rubbers Biting Estates, Is lid. Bukit lifertajam, Is W. LATE BUSINESS Mountetuart Dry Docks Deferred, 5 'M.

l'nited National Ordinary, 3s (small lot). Three.and-a-Half per Cent. War Loan. let 11-16 (twice). London and North Eastern Railway First Preference.

58g. William Hancock Deferred, Vs 6d. FLUCTUATIONS OF QUOTATIONS Nun No rises were recorded. Fall Gloucester Wagons. 6d to 16s 6d.

Spillers Deferred. 9d to 3d. Furness-Withy, 3d to 18a 3d. Richard Thomas Ordinary. 3d to 5s 6d.

Stothert and Pitt Ordinary, 9d to 7,78 6d. Vickers Ordinary. 34 to Vs. Welsh Navigation Ordinary, id to 1s 7.1 d. NEWPORT MARKET NEWPORT, Monday.

Markets opened quietly and tended to shade off to a small extent in most sections. DONE Cosornmont Stooks Consols per £73 His 3d. War Loan Three-and-a-Half per 101 11-16. Railways London. Midland Scottish Four per Cent.

First Preference, 74. Southern Deferred. 19t. Coal and Irons lialdwins Ordinary. Is lid.

Consett Iron Ordinary. es 7ld. Richard Thomas Ordinary, be 6d. Richard Thomas Four per Cent. Debenture.

76j (twice). Vickers Ordinary, 225. Miseellesteetis Hawker Siddeley Aircraft, 71s 3d. International Nickel. 4's.

Courtaulds Ordinary, 39, 3d. Spillers Ordinary. 53, 6d. British Ropes Ordinary, es 3d (small lot). Trust of Bank and Insurance Unite.

19s 3d ex div. IT OUR FINANCIAL EDITOR CARDIFF, Monday. There was again only a small' turnover on the Cardiff Stock Exchange to-day and the general tone was dull. Coal and Irons were quiet and price changes, although not numerous, were downwards. Shipping Shares were slow and weak.

government Stocks received limited attention, but fair interest was shown in Railways. Banks, Corporation Loans, Gas and Brewery Issues were hardly mentioned. Miscellaneous Industrials showed little quotable movement. Mines, Oils and Rubbers were slow. In Coal and Irons Stothert and Pitt Ordinary lost 9d to 27s 6d, Richard Thomas Ordinary 3d to 55 6d, Vickers Ordinary 3d to 225, and Welsh Navigation Ordinary id to Is 2ld.

Furness-Withys closed 3d lower at 18s 3d in the Shipping Group. Among Miscellaneous Industrials Gloucester Wagons dropped 8d to 16s 6d and Spillers Deferred 9d to 43s 3d. BUSINESS DONE Mont Stooks Three-and-a-Half per Cent. Consersion Loan. 100 7.16.

per rent. War Loan, 1011 (small lot), 101 9.16, 101 a (twice). Railways Great Western Ordinary. 551. London.

Midland. and Scottish Ordinary, 211 (twice). London, Midland, and Scottish Four per rent. First Preference, 76. London and North Eastern Second Preferenee, 215.

Coal and Irons Illaenavon Ordinary, 34 9d. 3a 94 (small loti. North's Ordinary, 3s 314 (twice). Richard Thomas Ordinary, Ss 41d, be 4511 (small lot). Vickers Ordinary.

21s 9d. Welsh Navigation Ordinary. Is 24, Is 254 (twice). Comma Iron, ts 6d. Old Old Preference, 1311 9d c.d.

and e.r. Courtaulds Ordinary. 39s lid. Great Universal Stores. np 9d.

Maypole Dairy Deferred, 2s lid. Mipowin Srntt Ordinary. 4. ad. Standard Motor, 12s 111 d.

Minn Aripten Gold. Tr. Atta Gold. le lid. SWANSEA MARKET SWANSEA.

Monday. BUSINESS DONE Nickels, 145. Austin A Ordinary. 238 6d. Morris Motors, 28s 3d.

U.S SILVER PRICE NEW YORK, Monday. The decision of the United States Treasury to lower their buying price of foreign newly-mined silver from 45 to 44 cents per ounce is the immediate result of the abrogation of the silver buying agreement between the United States and Mexico which was announced yesterday. It now remains to be seen whether the new price applies to all foreign-mined metal or whether some discrimination will be made in the case of Reuter. I Method I Place. 1 of March 21.1 March 26.

Flew York to 14.961 4.964 14.96 4.91 Montreal Dols. to LI 4.sei 4.9e4 4.9% 4.984 Paris to 1644 1644 163 164 Brussels Belga to V. 414 29.42; 29.44 29.45 Berlin 'Mks. to ti 12.36 12.37112.36; 12.374 Zurich Frs. to iti21.651 21.661 21.654 21.664 Amsterdam FL.

to 8.974 8.96; 8.974 Milan aa. 94 3.16 1 945-16 "ij Spain to L.IO 110 nom 00 140 nom Lisbon lEses. to 1119 110 1109 Otto Copenhagen IKr. to 22.30 22.4 22.53 2242 Stockholm Helaingfors Mks. to 522.511 1269 2259 2264 Danzig 269 26Z 269 To to 4 9269 259 114,9 159 Tallin E.Er to 76 161 Xl7l Athens Dr.

to sat 5lO 556 Alexandria Pates to LIM 91 97i sirs Bucharest 121 to 6'660 690 66s 690 Budapest Posse to 2.5. I 1 624 i 256 i Prague Ir. to A ton 142; 1141 15-16 12 3-16 Vienna 254 nom 25; 27 nom Warsaw Bombay d. ta Waal 342 5-32 5-32 Calcutta d. te Wyse 1 3-3: 5- I 5-32 5-32 Fong Bony.

el. to Dol 1 121 I'3 shanghai to I ttld sellers' sirs Singapore 'd. to 31.32 1-31 Yokohama d. to Yee 29.32 142 11l 29.:1 1121.51 Buenos Aires d. to Paso: aft SABI 19.80 19.25 Lima.

90 day! Vole to i mp mew 21 on, Monte Video-d. to Dol. St 1:11 Itti 21; Rio Janeiro. d. to Dbl.

13.16 sire 13-16 sirs Valparai.o. 90 days Dol. to 125 nom 115 nom Official rate Unofficial rate. 4 Free foreign bank payment. Following are the rates applieable for payments to the Rank of England for the Clearing 91.30 lire; Spain.

77.00 pesetas; Turkey. 625 piastres. Although most attention was centred on the franc the foreign exchange market was also interesting for the renewed weakness of the Argentine peso and Shanghai dollar. The Paris rate reflected continued selling, and although the control intervened from time to time the closing quotation of 164 9-16 was 62; centimes in favour of sterling. At one time during the day the rate was up to 1651.

Forward francs, on the contrary. were firmer, the three months discount narrowing to 4 francs. United States dollars moved narrowlY and ended A cent. cheaper at 4.96. while Canadian dollars also lost ground.

Swiss francs depreciated a trifle. but belgas. reichsmarks. and guilders showed moderate improvement. Argentine free" pesos continued on offer, and after reaching 20.20 closed at 20.05 compared with the previous quotation of 19.921.

In the Far Eastern group Shanghai dollars fell to 111 sellers. Printed WESTERN MAIL ECHO and published at 102-105. Mary-street. Cardiff 21, Wind-street. Swansea 8.

Great Western-crescent. Llanelly 7, The Parade, Neath 27, Station-road. Port Talbot: 29. Noltonstreet. Bridgend Glebeland-street.

Merthyr 71. Holton-road. Barry Dock; 52. Bridge-street. Newport.

39. Cardiffroad. Caerphilly: 23. Whitcombe-street, Aberdare: 11-12, Mill-street. Pontypridd: Commercial-street, Pontypool: 120, Glebe-street.

Penarth: 5, Commercial-street. Abertillery. E.SLI.II", MARCH 29. 1938. MONEY MARK Further Selling of French Francs Pesos and Shanghai Dollars Weak By Our City Correspondent LONDON, Monday.

Although there were no Treasury hills maturing, the market was comfortably supplied with credit, and loans were offering at per cent. for the night. Short-dated paper was being offered rather more freely to the clearing banks at per but otherwise discounts were unchanged, with 17-32 per cent. the buying rate for tine three months' bills. On the U.S A.

decision to discontinue buying the metal from Mexico silver tell id to per ounce spot and 11-16 to 19 7-16 forward. There was not much selling from India and elsewhere, but there was less buying. Gold to the amount of £272,000 realised the price of 140 3d per fine ounce, which included a premium of id on the dollar parity. FOREIGN EXCHANGES LONDON STOCK EXCHANGE LIST MONDAY'S CLOSING PRI RRITISN FUNDS AND CORPORATIONS Consols 7 5 12 73 5 4 7 16 Do 106 11 8109 ig lle Conversion 97 1 2 974 -46 Do looi, 1014 1008 100 5 2 4 Do 105 5 4 106 -'6 Do 42112 15 A ht War 101 1 2 10156 1 4 1 7 1111.1illgi.M•114% i 0 7 6 111.11 Do 96 96 2 95g 954 4 88 5 2 2 BS 5 -Is Slo 1094 109 6 1 Igwal Lws, 8 6 12 85 1 4 1 16 Ntl. Der.

9856 9916 -1 0 IrAh bm.122% 79'2 7912 44 1 551112 113 1)04411958 68 11 5,2 116 1 2 Blum 4e: 109 111 Well PAPet loo ll Tents: 35,0 CABLES AND EQUIPMENT 35'6 36'6 -70 Brit. Insulated CAldollirlrelve Pret "6 98 1 2 le Do. Ord 5 7 54 WM .1 1 4 Do Pst.l title 103 102 -le WA U. IC. Cole Cemptoo P.15/-) 2 2 6 Meet.

ttntlel I 8113 110018 Wed. Kver Mealy( 24'0 dieneral -71 Healers 16'0 -611 Johnson -61 Ilaremil Ittriee Afe non -3d' OILS tsg Alo-ggypen2 A l4 lO-I roo 4 Do Pref. ...:3 tiox Trn. 26'0 -91 Attock 3010 Vrit.Control.(4sl -1t(1 Do Prot (115; Burnish 41 141 5 1 1. 1 4 Do SX Prof C.

liairleo (N. P.l SRI Korn diver -51 Lobltos 2611 lost.ATlmonesH. 3'lol -10 1 Mani 20 -61 Du Dutch 103 3 4 1 769 Itornana ranker. Pf Crioldad -61 Bristol t19487gel 113 115 ....,7" i frinidadLeas; 83 10 9Ci Td ILT.lkr.Trin.l6/51) 3 1 DOMINION STOCKS ELECTRIC SUPFLY V.O.C. Austral 45-75 106 109 1 Bo'nemoutis 6 SOUTH AFRICAN MINES 101 103 2.

00 31 6 Airkfia 14 2414; -744 Items 113 115 coonty .4 Lot: 469 Aug.Ain. Cp. N.5.W14.5%45-65 106 109 ilmobleoas 3 3 7 3 a'' 74.20445% 1943 105 107 Lancashire 103 105 11111. Counties CentElning(EB) 22 4 22 1 4 -4 110 112 North Modern 260 City Deep 105 107 4 4164 Power 36 3 Coos. O.F Victorlas64s-75 103 107 W.A.a5t.5%45-75 105 107 oot 31.4 -711 FOREICN BONDS SNIPPING Cns.118.(10/1 24144 -74 A 112 114 Cairn Line 60 44 -91 Line 'C' 81 83 ClaC 144 154 1 2 Line 44 45 4 124 13 5 1 411artoln 5 1 -744 Austrian 26 28 I Coast 3 0 3 9 I East -724 Belgian 96 95 Cuner4 Bradt 20 )r.

F.i. 20 22 -1 Wirt ii 110 40 tr. V.i. 18 20 I Frowirk 64 48, 50 1 9. -70 la 3 -31 ...7 Do Beer.

64 74 1 'Furness Withy 17.3 14.31 1 20 22 -1 P. -3 1 3 11 4 1 I al 7 1 8 Ur: iv. 5 9-IR. M. Kneen 69 1 Bulgarian 32 1 2 35 1 2 Unionelle6sll 23 0 tlen.Min.

A FM. 75 75 STORES. CATERING. AS. Om 25 73 Do 58 60 Bread- 1016 61'Grourviel 72.4 750 Do 51 53 Barker 569 Do 69 71 -344agarKuutein Casele.k in '79 81 Bovril Def 204 I.lawim Invest 5613 Illgypthin ruined 101 103 24,3 Leos Prop 18114 Prenrii 10 104 R.P.

Sallee 49 50 Harrods 67:6 165 -84 Do 3717 3 6 11 Do (11.4)(12/1 -14 Greek 53 3 5 IDo (111(6) Hungarian 334 33 1 2-4 Dovis 54 54 Do Mast 7441 Japan 1899 4011- IIInt. Tea -34 -lid Do 1907 48 50 1 2 i4 Pit 5 7 15 State Do 1924 58 60 Hark 166 2016 'MIMI 565 5 7 6 en ow Ord. .4 14 mime 37,6 DO Prei 3 3 1 1- 1 4 48'0 ttandf. Humes 58 61 Itaud 74 6 1 4 4 14 Port ugume 3 7 7 79 Savoy Hotel Inal Sect-4511 Hurnailian 11 1 2 124 65 -34 2.4nPau107%1930 26 28 11 Do Def4.ls/1 54 11040. 15 6 7 1 -714 NONE RAILS 'Selfridge Pr.

4.1 Rose Deep Great 544 554 -le Do Provincial; 54 S. A. bolds (66 i -24 Do Cons Pf. 113 116 Do Defd. 3.1 IS.A.T4ship(lo/4 66 -61 DO DI.

lO6 109 Rodeo iShn -114 110 107 109 Pond 8(3 Spearwater MP) -444 Do 115 118 Swears Well; Springs (6) 274 Do 14h. 128 131 Utd Dairies -13403 uh Mimi 94 94 -7 11 Do Dela 66 69 Whiteley (Wm): Do Rt. Ch. 125 128 Woolworth F.W. 60.0 -6d 7 16 7 1 -Ste Do 0.1....

123 126 BREWERIES i Van Rya De. L.M.S. Oniinary 21 21 1 2-4 Do Pre7 75 77 Baas suna 644 BlVerneniging Dr.44Pref 1923 57 60 tisk 24 41 -744 1)o Deha 101 104 BreversofTel4s 240 Virl'etilt 1614 -70 1 L.N.R. sPrefOr: 54 618 7 14 72 4 5 71 11 74111 56 0 -31 W.14.1C0n(10/1 Do Def Ord 34 311 -516 CityaLodosl.l4 IW. len Tat -139 Do Ist Prot 57 59 -4 C0' 16, 11 4 :7410 7 3 West -714 Dos 12 n.1Pref 21 23 Distillers 1 1Peat Reefs 1).) 4 Deb.

100 102 Clubmen PH Sail -ht Went Witwaters 64 641 -fig L0n.10.1, port 79 80 4 1.CooPoilAllsoP: 6 1 1. 5 1 18 -161 it Nie MetnipolitanAsatd 66 1 2 67 1 Mraz 1411twaters Deep Soil, hern Pref Ont 754 764 11111415 Ilvanal Do Def OM 19 19 2- ILO. 4. Brew 9910 RHODESIANS AND EAST 1 8. A.

Dia 460 -216' 1 1 Do Pref ll2 114 Taylor Walker I. 2 a 0 OTHER RAILS Threlfalls Antofagasta 269 -31 Etienne Aires Pee 4 1 2 512 Watney Def -61 1 64 9.1 -lid Do Gt. Southern .10 11 -It 'lon. 1111 4 1 4 -144 ro 170 Wtern '74 84 -4, TEXTILES Khokans Corp-. 9.2 ac.

255) 514 512 -4 Ain'en Cel flip.) 24 -5 31 ltholAnglo Am. 1815 lien. Argentine 712 812 4 Bleachers 446 -61 Central Uruguay 2 3 Bradford Dyers Set. Trust 1410 Conloha Central 1 2 Cel. 410 3 ,1 Roan Ant.

15'0 Noire Rios 4 12 5 1 2 IDo 2nd Prof. 1713 -14 Leopoldina l2 2 1 2 4 Cottam A VOOl 'Tanganyika Xidl B2 84 -12 Calico Printers Can. Col. (n.p.) 24 1 52 En AFRICAN Rico Bold 8X 9B 99 4 Coats N. 6 374 -434 4 Ban Pau 10........

42 44 -2 Do Prof. 1 1 44 1 74 4 Milted Hamm 14 24 Eng.Sew.Coteu ..73.1 Ariaton BANKS English Velvet Ashanti 4 1 Aiiiimiiii (2s) 713,10.161 Hoyle (J) I 'Atte 14 1 4 1ani (6) -6d Brrlsys (11) Lister 46 56 Coos 90 Do (Oversewn -74 17. C. i -144 2 11 7 0 1629 1 7 9 ifi. C.

Bain 611 -lid H.Kg.6lhaoll l4l 88 93 a Whitworth 11'3 'Gold Coast -64 Lloyds A (C 1 pi) 60'6 I 54 -led in i desig5, 54 514 -1s! GOAL, IRON AND STEEL Rambo North's (F. 22 lat) 84 842 -Isl AM edlron niers -6 die )( 143 Dikli 0) 915 6 Anal. Metal Do 1044 )Otte Itill 4 ca 24 44 ildorkwa (50 614 1552.Pr0v•A 1 4 1 4 4 6.1 111aboucktwiloox 3d, Nigerian (Sold Dn Birm.SrnallArins 163 19,9 -34, 111. Ashanti (41-1 44.1 734 35.. Zealand I Bolsover Coil 'OlllO River 244 E.

et 456 461 112, Brown J. 1109 284 S. Banket Standard of S.A 144 144 4 1 1 1 10 1l 14, 4 7 9 8 3 -Bad 11912.11/11) Wminster(Ll TA) -ild Colville 23 09 Irkwallanket( 1 9 1 3 INSURANCE Consent lid 'r wa 444 744 2612 264 now" 1 4 6- 263 2913 W.Are'n D'in DuSsid 3.1 6.1 Atlas paid) 13 1 4 15 6 2 -no min Brown 65 0 AUSTRALIAN (GOLD) Com.Union(6l): 948 913 1 2 -I I Geist Keen(Bl) IlLogio-Aust 6.1 0,1 Wile 4 mod 30,4 -34 Commonwealth 1 1 0 1 -144 11 51 11 ,171 1 A 44 5 1 414 113 6 2 2 arn 81444 41( Hwd A Dull ugh 4 4 14451 D0v 5 1 66 -91 London (261 4 134 We Part -34 LgagLomaapd) 27 1 2 28 .1. 1 A.t 6, 0 i ido 2 9 3,3 IG.Hereeshoe(6) 1A 144,1 4 748 19 194 -78 .5. Durham Steel -61' 617 11.14 eri11' 5 9 6 3 -34 B.

111.111•1125/-..„ 10 104 4 Stanton i Iron 42 6 43 1 6 I ILrewitSt'r(or-; -3d Liu 978 1078 14 I Staveley Coal 34114 1 1 Northern (glial) 174 18 4 1 11 1 timin oyd Murchison Peorl lB7B 194 260 9, Kallfur 42l PR 5O9l (21 Pd 14 1488 Tltoroyoroft 23'0 IDo United 6.1 94 Prisdential 32 1 1 33 4 ITube Investla 820 .1. 341Paringa -134 -113, Tirkers -141 6 w. 37'6 2,,, paid) 8 1 to 84 -4 1 11 Do )'ref Wiluna -94 Royal Rachange 94 1 Vulcan Foundry 20 1 MI 1 4) 154 16 4 w.rd nos Sea OTHER NINES 84111 paid) Bun ILife 7 75 84 A. 8.0 3519 14 99114 64 36 1 1 04 8 131 a Austin South INDUSTRIALS i sm 22 6 23 9 lid Burma (9rp) -6d Reef 370 Africa Trade 113 1.1.40%Pr010ni 1 Oro Allied News -Ira D4.4l 7 w44 1 1 1 2 3 Messina Do 260 Do irs Pf. Do lOO 103 Guy Humber 6161 6 1 24 14 771919 11Tr0 51 4 t6 -3A Yount Lyell Alpha 240 Amal.Preel(lo/- 1, 3 14114 Do Pret 2113 1,,,, 771 41 1 4 Sr-) Rio Tinto 13 1 2 14 4 Do Deb 84 92 I 4 1.74 -34 -3d i OH 44.,.

6 -34 Amor. P.Cerosat 7113 7319 -113 Riley ZincC 1K 14311 714 1 114 89,6 orP -26 BandTelevis.Pfd 84 104 Do Rover TINS Barry Stains: Singer 69 33 3 316 Beerharns Pills Stanched 64 -34 -31 111,1 4M3 430 Ilangrin Do Did 55:0 Berger (L) 1 AVIATION Till lot est Borax Cons Def. Paul 4,9 434 i Hong Ens, 1121.Tretn (n.p. 8 1 2 84 -It 'Bristol (100-) (16 2 2 '9 34 64 mato, (69 91 kit. Am.

744 390 KreariatPuklai-) British Match -6d Fairey A 4 3.1 Brit. Oil Cake: 4610 HandleyPage Ord 2710 2510 7642 Yon (69 2519 9,1 94 Petilling (SI) l3O 14 0 British Oxygen: Imp. Airways BM. Platr.6l(s/4 -34 I Parnell (6-) 6'3 -3 dl ll 4tloni 5519 Brit. (Ann.) 4,9 4440114,8 1 -3d IPobjoy (SJ-) Ina 'Tway Carreras "A 64 64 'Westland 'lB4 19,6 Do RUBBERS GREYHOUND RACING Combos 8 8 4 Sumatra 12 2 -714.

Albion Ord. 12'6 I ChineseEngio'r's -7 0 220 Orli. I 1 34 ICrittall 9 0 -3 ga 94 -44 Wtobly lid Daily Mail Trust -1 9 -3d DallyMirror( 1 1319 -54 Hal, 266 UNIT TRUST PRICES Iktioe Kidoel (As Si HanagorS) Graph Deb. 101 105 Nationa A Hato Ti National .6. Dunlop Rubber: 26 5 -44 Namoua eld Barre Court.

3'3 Doti Cloh INat tonal Redwoods -14 Nillmal .13.1616 Musical 6 1 Buitit Isse 10 0 8 0 ,11 12 3 13 3 Farealal Land l6O Crew mam9(6 Amalgamated 1910 Do "A' Ord 151 1 Gulden bid 1 OM 1 -74. Gen.ltefreetaeira 14:0 Griffiths Hughes Del -6d Ihngon 3 4 -74 (4ula liarmpog IWI4 High Low -764 JAM In vestrn't 1 6 1 01 norm Lands 96 -6d I Kamuni 4 2 1 -tilt Ndged Scottish l6ro Universal Keystone" 5 i Do. 1416 Flexible iiiip. Chein: -41 1 sr I is, i i 19p4i Do. Consolidated I)o Pref: linty.

Con. Gas llB 123 Gold Pro. Serond 1 7 1 4 i Is ur 2 2613 -744 (Mid Pro. Third 12,7, luiper.Sinelthig 3 K. Selangor 214 ini.Toh.t4t.Bt.

6 1 6 1 its -kit 4,44.4,,,, 114 Cert. bM I)o Can. 651 -6 0 146 -60 44444 214 74 1 3 2 6 9 1 1 5 5 2 -1 3,1. istic 2'104 -14d 14444444 i In.Hoirlingin.ii.) 1 Ila Int.Nickel;n.p.) 454 454 -24 1941 Provident Int. Paint i Malacca 4 Hundred 1 1 2 7 3 9 1 2 8 ,0 9 See.

Gni elly'sDirenDebloo 4104 1 2 1 a yy.i. 1 3 1 i 70 Invest: Gm Nis. 13.6 3513 -4si plan Do. N.V. -13 1 peeling Lever par a -34 British ind.

Pat 176 Ito 4 Rubber Trust -104 44 4 9r14 14 .1 4 1, 44 4 14 9 15 9 Do -14 4satiem 15.6 bit, lon -91 4 4 British Ind. Fth. 1 7 1 3 Low Temps 2 1 01 Singapore PA 73d 814 111 Beet. Ind Lucas i Menhir 1O Tali Ayer Prow. '13 Metal Box in in -74 Do 264 Mures 80,6 Nat.

Canning Tel jo Gen. 'IF bid Nat 2'6 British Gen. 'C' ITtd.deedanr2/0) 2ni id int Re co lki. Pre( 33'0 Ut4 5442414: I 43 1 4 44144 -115 itit a Ti11i Vallambroaa (2J-) Phillips Itoibber 266 selective 'A' 1 6 1 1 PinchinJohnson TEAS Selective 'V Prov. Chi.

Prefil 20ft) 2100 3 4 8 4 4 Aviation it Univ. Radiation Aaiun Co I First British bid Radio 5 54 4 Meant DO(E10) 40 42. Second British- bid Ranks Brit. Indian IThird British bid Heckitt itcyrolle4A) 19rieelingCons. 2276 1 4.

4444114 Govt. 1415 bangers Dimbida Vele), Midland ItSthrn Urfa 376 Donors 1 41:3 ITst. Bk. A Smiths Crisps Doom 436 Tilt. Stoll Theatres liastern Assam 3 7 5 Bk.

Stirs Sudan Plantl'us -73 of India: 226 -6d' invest. Trust Sunday Pictorial Jet i nips IScottiih 11.1.1. Strome kDi 6 Ati une Cornhill Debs SwerlishMatcli 223 -4141 Jokai 326 hilt Dad Tate a Lyle 2 1 4 Lebong British limp 'A' Turner Newell; 74.1 Mrsitiiind United Molasses -9d iNedewin 'British Emp.Com I'. Steel 44 1 2 45 1 -244 Sinai' Dividend tEt Rights, lEs Beam I altars et Capital, Cans, a Nominal. ft ft All.

VAPOing llottcci BIBBY LINE LONDON. NEWPORT, SW LIVERPOOL to ARSEII.I,Es. SUER. PORT SUDAN. COLoliko RAN Ll.

Tor UtA Peft DERBYSHIRE SWANSEA t. PORT SAID, SUEZ, ()owl and RANG )ON. VESSEL Taking Goods at Tlitougb Rates kap Cairo and Jerusalem twith at Port Balch. Bassein. Moulmein, daisy.

and Chittagong. with men at Rangsam, for yuik eiv. with transhipment at Colombo. JONCB. HEARD and Revlat.

il R. W. MA4ON, Lnaffing Wrs, sq w. BIBBY BROS. sad Harms Bask 1108..

Water steam Liverpool, Book Tour l'agaage or Tour at lb. THOS. COOK SOS, 2a. HIGH-STREET. CARDIrI.

ROYAL 1I AIL TO SOUTH AMERICA. PASSENGER FREIGHT nF.IIVIL73 BRAZIL. URUGUAY ORGENTIN from SOUTHAMPTON. IGNBON LIVERPOOL Tours to Portugal. Madeira.

and Canary Islands. ROYAL MAIL LINES, LTD, London: Royal Mail Rouse. Leadenhillit, jp Liverpool: Gore's. Water -street a CARDIFF: 23. HIGH-ST.

Or bceal Rook Your Femmes or Tour at the Aeor 4 THOS. COOK SON, Llb HIGH-STREET. CARDIFF. UNION- SOUTH EAST WIST Met MADEIRA Omit CASTLE ROYAL MAIL SERVO UNE. VOYAGES Rom AFRICA.

Head OMNI: 3. Feschurch4troet. Usk 1.C.3s or In Ourdif to Local Agents. IA Book Your Pumice or Tour at the A THOS. COOK SON, LTD, HIGH-STREET.

CARDIFF. ABERDEEN LINE AUSTRALIA, via Naha. Pmt ligt Aden and ONS CLASS From Southampton. Apply Local Booking Agents sr Australia House, Strand, London, Book Tour Passage or Tour at Apra Thos. COOK SON.

LTD, 14, H.GII-STRzE DUFF SOUTH WALES LIST Supplied by die Cardiff Stift Simieepe, CORPORATION AND COUNTY ATOM Marry Cardiff 31191444)93 3 195246095 3 Newport 34. PI 4to. 1.981110 910 rm ynrt A(1047471110 11 140 rrprl4.l atll4 97 ilth idle 90 'lse do. 3 so. It se st 1111 194555109 11 111, DOCKS rryClog DOS illOl.l Likoy Stark IA MN 100 lawn Nolte, tei I In.

ni PT Deck! do. VI 134100 101 516 Db. 114 7102 1 411 1111 ford I P.TalrotGrei2o sei Del.lll lotW9isOry l7o 111i1 CAS AND WATIO O. 111 14 irootypool 1 Med. Ord.

11 1 (791116 004 mai 7 11.11 A dor6s Mt 104 104 do 1 .11 I Cardiff 115 ,111 do 7 11 do 101 1105 Rlioy a Ivy 110 I do do 5) Pill Vs Mb 140 1145 Ido 4 Deb, 1 NT do 5 4404 5 106 106 54 I Merthyr Go. 170 1175 ri de moo 1 lk't 101 Pre(11041 111 4n 11... 110 116 41611.11110,14 'BREWERIES itochaus.Or 34,0 350 -do 14 C. Pf. 0 nAI Wokrys flo 2 114 1" 107 4to five 44 100 103 Ely Ord a i am C.PI 1 1 2 2 on am 111)75 Ts Etna IV Pfd 6 do IPA dohs i 1011 4 101 i do Piot 4 35s 191 14,04 7 17,1 1646 LANEOUS Pis ris Kel 1 HOW I I.

Pret 21.3 1 30 11:34 1C 47 ad P. hoes ot Cr LO ChM 30 I 11 7 lir tionAP. A 0 s.w.Era* Deb is i 311 StllBBB 40 411 :4 4 her2ll 8 '24 4 SiOvolisfr.) I 1 Courect.Ord 121 ay 40 21.0 In 3 .4 rl i 6 4 Cr a :0:13 8 I 146 de C.Pr 110 al Velou Coll I Mew lii CP 23 0 1 Fi 766 do 4 1Pr'3 2 6 1 1 t's lis 6496 Illyes Fine 37.0 Wtra MAIM! 6 i MISCELI Misr' a at Ct. 0r.127. 6 26,0 do 741CPC25 6 11 do Nfb I 107 104 Arms rk I (i Orr SS 0.10% Prof 23 0 0 As IntlogoCso ActiltiogPll4l Blond 0.M..

330 I PI: 441 3 1 0 .6 R. ,11 do at 21,0 21,0 4.5 M11.4k Icotlr 5,0 313 (fleeter Asi a 179 J. Unwell 0r45.0 261) CM39.0 130 0 D.J.Dlukas 11, I 0 '2 las do aes CPCI r'3 ,11 5 0 34 11 6 cum 4 3 lairll4e.f.o.llllo 22 0 do 2lsll 2110 llorrogoOr.2l/41 226 do CP1.15,6 16,1 Milo Ord te Welton T.OkrooCollo/10 1 3 50 ot el radial 301 Alban ILe 1 11 4 .11 7F i ll ias Ifn7 0 Bryopaeori3.l 'Grab( 7 0 (10 Prat (7 10 0 rnii, Campbell ..1111, 100 I.Am.Mero 170 .01, do Peet ..130.11 14ilterdn4notit if 3 1 1 103 Clavm.w.St444 uNQuarno SHIPPING, AI Er rims' er I I 6 lit Tama Rotors of 4 1 1. Ed Dividend. I Es Bonus.

South Vales Coal and hoe Anolgibnaled AothrsciteAl. do. do. Pre? do. 5.1 14 Deb.

R.I. Saldgrius Ord. otrfb 13 19 5 6 0 SI 3 95 66 70 22 6 23 6 110 120 .99 103 100 103 TA 'Wet. do. 7 'lt' Pref.

(10,0) do. 6 lit M. Deb. do. 39 i 1) 150 161 221 Ot 50 523 54 55 234 30 i 0 26 36 55 61 4 24 9 251 .19 102 26 6 27 0 290 300 239 269 93 97 2 0 30 90 100 2 6 3 0 0 280 226 23,6 33 1 114 3 4 1 2 17 0 9 3 1 8 3 12 3 121 994 197 19 0 19 6 190 116 2:5 21-6 5 1 2 206 216 IN At 2:9 -43 103 176 ilo9l 4 100 160 16 036 1 43 49 176 186 26 0 204 Ai 2119 22 5 180 190 r- 1 5 -04 440 446 18 Woos.

3gs do. 5 Com. I Briton Worry Steel C.P. Tao Ow dn. lot Mort.

Deb. Cardiff Col Ord. do. do. rors (War.) li goo (Pei.

do. Cum. Prof. Ternlllll Ord. do.

7i Cum. Prof. do. 6 Corn. Pert Prof.

do. 5 let Mort. 1 wt. Gravesend eel Pref. dr 4IS Ist M.M.

51k. Guest Keen 2 Nett lofolds Ord. 2 dr. Cm.Pref.gaz Preeigl dr.2od C.F. (Tax Tree.

dr Insoles Ord. dr. ('um. Prof. Into wilei.i Cum.

Part. Prof. I Loral sit Bros. Ord. do.

do. Si Com. (Jona) 54 R. Deis. North's Ord (5 do.

Wow Ord (2 -) do. Cum. Pref. I Ocean Coal Ord. do.

Cum. Pref. (CI) dn. 4 Den. Stk.

Partridge Jones Paton d. Powell fkilhvir Asstd. Prof. Powell Di n( rd. do.

oo um. do. um. 2nd do. rd.

Thomas (Rd.) Ord. do. 12. P. (Tat Pre) Tre6erar trou 'A' paid) do.

'B' do. Deb. LIMN! ntinoal ()M. Pe f. Mod.

54 Pref. Welsh Nartino do. elf rill Prig. 41theheid Is Steel Rise or fall. iot 4,1 4.

40. i ive 11,.