AUSTRALIAN COMMERCIAL NOTES.

Press, Volume LIII, Issue 9432, 2 June 1896, Page 5

AUSTRALIAN COMMERCIAL NOTES.

Pesss Association—By Telegraph-Copyright. Sidney, May 80.

In the investment markets the only change is further firming, the chief features being strong holding and scarcity of sellers. There is plenty of money available for dividend-paying stocks. There was a general tendency in the direction of higher prices for mining shares daring the week. The Three Big Barrier Companies have held their half-yearly meetings. The Junction report showed the net profits to be £32,600, £20,000 of which will be distributed in dividends. The prospects are very encouraging, and they intend to sink a shaft to intercept the lode at the thousand feet level. The Block XIV. report stated that there was a larger surplus of liquid assets than at the close of the last half-year, after paying £20,000 in dividends and spending £18,000 in improving the plant and exploration work. The concentrating plant is giving excellent results. The Block X. report is less favourable. Operations were interfered with by a fire in Block XI., which caused a large expense. The Directors decided not to pay the dividend now due as the concentrating plant is not working satisfactorily, and it is expected that the dividend will probably be deferred for a week or two. All the reports were adopted. Silver shares were in brisk demand all the week, but weakened subsequent to the publication., "of the Block, X. which was rumoured to be adverse. In Junction and Junction North mines the market closes sickly. Proprietaries sold at the close at 495, Block X. at 765, Junction Norths 38s, while Junctions after sales in the morning at 80s 7d, were offered in the afternoon at 75s without finding buyers. In gold Westralians monopolise the greater proportion of very big business. AH the exchanges have a speculative tendency to pay what appears to be fancy prices. Many of the Boulder group and Bank of England are in very strong requisition, Great Boulders finding purchasers at £10, while Bank of Englands have jumped to £5 14s. All along the line there is a readiness to pay higher figures, and the market closes very active and busy. Buyers come forward freely for Victorian gold shares at advanced prices. Kapai-Verniont declared buyers at 7s 6d.

With the exception of fairly active inquiry on West Australian account, and orders for the forthcoming shearing season, the month closed very dull in the import markets in breads tuffs. The bakers are still working on the contracts made early in the year, and something like a month must elapse before there is any change either in the volume of business or in the price. There is likely to be a little inquiry for San Francisco wheat, but the stocks are concentrated in millers' hands. The arrival of the Miowera increased the available stocks by 7800 sacks of flour and 7600 sacks of wheat. Business could be done in New Zealand wheat, but holders' ideas are still above buyers'. The wool season is practically over. Returns prepared by the Railway Department show that the wool trucked for shipment from Sydney and Newcastle has decreased by 92,250 bales for the period from July to the end of May compared with the same period last year.

Melißodbne, May 30.

The holiday and the near approach of the end of the month farther red ace the volume of business in the import market. Holders of wheat continue very firm, and millers are working on very limited stockg. The question of supply is admitted to be very uncotoain. The absence of any large lines offering seems to indicate that stocks are being reduced into a narrower compass. The present condition of inactivity is likely to continue for a month or two, after which the actual position of the supply on hand will govern events. An interesting return on the export of butter has been published. During the past seven years the Government has spent £19,800 in supervising the export of butter. Over £10,000 has been expended in freezing and £2800 in experts' expenses. The value of the butter exported during the seven years was £8,146,000. Perth, May 30. A large copper lode, carsying both silver and gold, with an outcrop 40ft wide and 10ft high, has been discovered near Niagara in the Kalgoorlie district. The assays gave 60 per cent, of copper, 16ozs of silver and lOdwts of gold to the ton. Three-quarters of a mile along the line of the lode has been pegged. An important development occurred in the Golden Pike lease held by Hannan's proprietary, where a boulder lode was picked up.

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