FINANCE AND COMMERCE.

Press, Volume LXIX, Issue 20903, 10 July 1933, Page 11

FINANCE AND COMMERCE.

MINING. ALEXANDER MINES DIVIDEND. (press association telegram.) REEFTON, July 8. The eighth dividend, of one shilling a share, has been declared on all shares ©? Alexander Mines, Ltd. This represents a distribution of £3750, which will be free of income tax. The dividend will be payable on July 21, and transfer books will be closed from July 4 to July 21 inclusive. The capital of the company comprises 29,000 shares paid up to £1 a share and 46,000 paid up to 13s 6d. MOONLIGHT EXTENDED. The manager of the Moonlight Extended Gold Sluicing Company, Ltd. (Mr Tudehope), reports as follows: — A further three chains 50 feet of tresselling has been completed, making a total of 10 chains 50 feet ready for fluming. Timber has also been laid on a further 16 chains 47 feet of benching, making a total of 19 chains 14 feet of benching ready for fluming. Widening of rock benching where necessary for protection of fluming is also in hand. Although frosts have been severe, work has so far not been hindered to any extent. GOLDEN DAWN RETURN. The following return has been received from the Golden Dawn Company:— For the 12 working days ended July 1, 439J tons were treated for a return of £915, not including exchange and premium. BLACKWATER MINES. The development work carried out In June was as follows: — No. 10 Level, North Drive—Progress was 25J feet on reef, averaging 14 dwts over 11 inches. Reef in face today is 12 inches wide. No. 11 level, north drive was advanced 45 feet on reef averaging 17.27 dwts over width of 23i inches. The reef in the face to-day is 28 inches wide. The winze from No. 10 level through this block progressed 63 feet, and is expected to hole through in a few feet. No. 12 level, north drive was advanced 108 feet, and has just intersected "Murley's" block, as anticipated. Battery Crosscut, North Drive —Progress here was 60 feet following reef track. Good country rock now showing. Shaft Sinking (Prohibition)— No. 8 chamber has been cut and the shaft sunk a further 40 feet beyond this point. THE FUTURE OF GOLD. DEMAND LIKELY TO CONTINUE.

The Union Corporation, a leading mining house of which Sir Henry Strackosch, a member of the India Council, and one of the world authorities on gold and foreign exchanges, is chairman, publishes the following opinion on the future of gold:— "The abandonment of the gold standard in recent times by one country after another, has raised the question as to whether gold is likely to lose its status as a basis for money and to cease to function as a medium of international exchange. Our civilisation, depends largely on a flourishing world trade, and if progress is to continue, world trade must sooner or later revive and resume its normal growth. A sine qua non of this is the re-establishment of an international monetary system. What that monetary system will be it is too early to prophesy. It seems clear, however, that the world will not accept managed currencies as a general order of things. The history of the last 10 years has been one of repeated flights from currencies whose convertibility into gold had become suspect into currencies whose convertibility seemed more assured, or into gold itself.

"Gold has, in facty tended to establish itself even more firmly in the popular imagination as a safe refuge, and there is no reason to think that this tendency will be suddenly reversed. It seems, therefore, that gold is still the only basis for money which would be likely to find wide acceptance internationally. "This, of course, does not necessarily mean that when the gold standard is re-established it will be in its old form; safeguards to ensure its proper working will, no doubt, be insisted upon and lower gold parities (i.e., high prices for gold in terms of currencies) will be in many cases unavoidable. These lower gold parities. Incidentally, would reduce the risk of a shortage of gold and would be helpful in maintaining commodity prices at a level where the profit of industry would be sufficient to encourage the steady increase in general world production and trade, which the advance of civilisation calls for. "The age-long demand for gold, therefore, is likely to continue; the gold premium' now available on the production of new gold in countries no longer on the gold standard should lead to increasing production of the precious metal; and the later possibility of reduced gold parities, and therefore of a stabilised increase in the price of gold, gives h«pe that the present prosperity of the goldmining industry is more than a passing phase."

CHAMPION SHORTHORN. IMPORTATION TO DOMINION. TORONTO, July 9. Browndale Eugler, the aristocrat of the Shorthorn world, and Canadian Exhibition grand junior champion, is going to Vancouver m a specially disinfected car, on the way to New Zealand. The animal, whicn was originally imported for tne Prince of Wales's Alberta rancn, was bought by the Canadian uovrnient for an unnamed New Zealand breeder. DOMINION RUBBER COMPANY. (P8133 ASSOCIATION T»I.EOBAIt-> DUNEDIN. July 9 - The secretary of the Dominion Rubber Company has received f" vic f from the agents at Singapore that a contract has been arranged for six months for the monthly delivery 01 five tons of rubber at 12 cents. per lb. At this price a satisfactory margin of profit will be shownl. The fontract is in addition to the existing •Mitract for the delivery of six tons •t rubber a month for sis montns.

CHRISTCHURCH STOCK EXCHANGE. SATURDAY'S TRANSACTIONS. Markets were quieter but firm on call on Saturday morning, with the bulk of the dealings in the gold mining section. Transactions (exclusive of vestibule business) were: £2OOO New Zealand Govt. 4 per cent. Inscribed, 1955 (late sale 7th). 50 E., S., and A. Bank. 7 Bank of New South Wales. 75 Bank of New Zealand. 300 N.Z. Refrig. (10s paid). 100 Staples Brewery. 100 Anthony Hordern 100 Mount Lyell. 300 Big River. 100 Blackwater 1000 Cornish Point. 500 Kildare. 1000 Lawson's Flat (Is paid). A late sale of New Zealand Government 4 per cent, stock due 1935 was reported on Friday at £IOO 15s. Buyers of the 1946 bonds raised their bids to £lOl, and the 1940 bonds claimed buyers at £lOl, but sellers were reticent. E., S., and A. Bank shares moved up to £5 0s 6d. Bank of New South Wales were firm with business at £32, closing quotations 2s 6d on either side. Bank of New Zealand remained unaltered at 48s 3d, and more were wanted at 48s 4d, buyers at 48s Id. Miscellaneous. Dalgety and Company shares were firm on buyers' offers £9 7s, sellers at £9 iOs. Goldsbrough, Morts were fractionally firmer with buyers at 27s 7d, sellers at 28s. New Zealand Refrigerating (10s paid) had dealings at 6s 4d, and more were wanted at that price, sellers at 8s sd—the fully paid were offered at 15s 9d, buyers at 15s Sd. Staples Brewery shares changed hands at 26s 9d, market closing 26s buyers, 27s sellers. Australian Glass were wanted at 47s 6d, sellers at. 47s 9d. Buyers of Beath and Company shares moved up to 265, sellers at 27s 3d. Anthony Horderns had business at 10s 6d. Mount Lyells were steady at 21s lid, sellers staying in at that price, buyers at 21s lOd. Big River Gold Mining shares were firm with sellers and business at Is sd, buyers at Is 4£d. Blackwaters remained unaltered at 265, and late offers of 25s lOd failed to attract sellers. Alexander Mines partly paid cum dividend of Is a share were in demand at 20s 6d. sellers at 225. Cornish Points were steady with sellers and business at 6d, buyers at 5Jd. Kildares realised 2s Id, and more were wanted at 2s, no sellers. Lawson's Flat (Is paid) were firmer with realings at Is 3Jd and Is 4d, and these were buyers' and sellers' closing quotations respectively. Unlisted Stocks. Mining House Concessions (3d paid) remained unaltered at sd. LATEST QUOTATIONS. Buyers. Sellers. £ s. d £ s. d. N.Z. Government Debentures. 3J p.c. Ins.. 1930-43 99 17 6 4 p.c. Ins., 1946 and 1949 .. ..

Unofficial. Aotearoa .. 0 2 9 WELLINGTON. Sales Reported. £ s. d. Bank of New Zealand <2) 2 8 3 Kauri Timber .. 0 12 9 Electrolytic Zinc <pref.) .. 111 9 Mount Lyell .. '2) 12 0 SYDNEY. On the Sydney Stock Exchange on Saturday sales were:— Commonwealth 4 per cent, bonds — £ s. d. 19:33 .. .. 102 15 0 1911 .. .. 103 5 0 11)44 .. .. 103 17 6 1957 . .. 104 2 6 Tooth's Breweries .. 1 8 10J Mort. .. -18 3 Henry Jones .. .. 118 6 Wilcox Mofflin .. .. 0 7 6 LONDON STOCK EXCHANGE. (united rnrsi association- nr electric TELEGRAPH- COPYBIOHT ) LONDON, July 7. A confident tone characterised the markets on the London Stock Exchange, industrials rising sharply. The gilt-edged market was easier. WAR LOAN STOCK. 'BRITISH OFiTCIAt. WIRELESS.) RUGBY July 7. British 3'. per cent. War Loan stock is quoted as follows: — £ s. d. Julv 7 .. .. 98 5 0 July (i .. .. 98 11 3 July 4 .. .. 98 12 6 Julv 3 .. .. 98 17 6 June 29 .. .. 98 13 9 June 27 .. .. 98 18 9 ARE SALESMEN BORN ? AN EDUCATIONIST'S VIEWS. Mr W. Elliott, an inspector of the London Board of Education, speaking at the Spa conference of the Associated Booksellers of Great Britain and Ireland on "Education and Salesmanship," said that it had been wrongly assumed that salesmen could pick up their knowledge. "The most effective advice," he said, "is given by those who have done the job themselves—not theoretical advice. Also, the advice is most effective when it is given on the particular commodity." On foreign salesmanship, Mr Elliott said. "Englishmen are not bad linguists —it is a mistake to assume they are. A salesman going to a foreign country, if he be fit to go at all, should be in the nature of an ambassador for his firm, and should have wide discretionary powers. "It has been suggested that salesmen are born and not made. This is undoubtedly true up to a point. "In Spite of the Schools." "In spite of what the schools have done for them, they sell well, but such men are few and the business they do is consequently comparatively small. "Schools can do nothing with men of genius. We are concerned with the average person. But to say that 'Salesmen are born, not made,' is not wholly true. Even if a man be a genius, he must acquire the knowledge of the language bf a country to which he is sent to sell." On the subject of recruiting for commerce. Mr Elliott stated that there were four times as many boys and girls Jeaving secondary schools as there were 25 years ago, and he regretted that the contact between the business world and the teachers was still too slight. ,_ , . "Get into touch with the schools in your locality, and don't stress too many examinations. Though examinations are, to a certain extent, necessary, the wise employer gete behind examinations-'' '

4 p.c. Bonds, 1940 and 1946 101 0 0 — 4 p.c. Bonds, 1919 100 15 0 — Banks. Adelaide 5 0 0 — Comm. of Aust. (cum div.) 0 16 3 0 16 5 Comm. of Aust. (pref., cum div.) 8 16 0 9 0 0 Comm. of Sydney 10 18 0 16 19 0 Natl, of A'asia (£5 paid) 6 4 0 6 7 0 Nati. of A'asia (£10 paid) 12 13 0 12 17 6 Natl, of N.Z. 3 15 6 3 19 0 New South Wales 31 17 6 32 2 6 New Zealand 2 8 1 2 8 4 Union of Aust. (cum div.) 8 18 6 8 19 0 Insurance. A.P.A. 0 11 0 — National 0 16 7 0 16 9 New Zealand 2 9 8 2 10 0 South British — 3 8 3 Standard 2 13 0 — Loan and Ajrency. Dalgety and Co. . . 9 7 0 9 10 0 Goldsbrough, Mort 1 7 7 i a 0 Mutual Benefit 8 0 0 — N.Z. Guarantee Corporation 0 5 10 0 c 0 United Bldg. Soc. 0 17 0 0 17 3 Permanent Invest. 7 5 0 _. Shipping. Huddart, Parker 1 8 9 1 10 6 P. and O. def. stk. 1 0 6 — Frozen Meat. Canterbury 8 0 0 9 10 0 Canterbury (pref.) 5 2 6 — Gear 1 12 6 —■ N.Z. Refrig (£1 paid) 0 15 6 0 15 9 N.Z. Refrig. (10/paid) 0 0 4 0 C 5 Southland 2 5 0 Woollens. Kaiapoi <17s pd.) 0 G 0 — Kaiapoi (pref.) .. 0 11 0 Coal. Westport 0 12 0 0 13 :3 Gas. Auckland 1 2 9 — Christchurch 1 G C> 1 7 ° Chch. (10s paid) 0 13 0 Gisbcrno 0 3 0 Breweries. Carlton 1 15 0 — NcW Zealand (cum div.) 1 13 3 1 13 6 Staples ■ • 1 C 0 1 7 0 Timaru (7s 6d pd) 0 4 (J Miscellaneous. Australasian Paper and Pulp 1 11 3 Anthony Hordern 0 10 6 0 10 8 Amal. Wireless .. 1 12 0 Amal. Wireless 0 1 3 0 (cont.) 1 2 Australian Glass 2 7 6 2 8 9 3 Beath and Co. .. 1 6 0 1 7 Beath and Co. U/paid) British Tobacco .. Broken Hill Ppty. 0 4 1 12 1 13 3 9 6 0 5 1 14 1 14 0 0 0 Burns, Philp Colonial .. 2 8 56 10 0 0 57 0 0 Dunlop Rubber . 0 18 2 0 18 6 6 Electro. Zinc (ord.) 1 1 0 1 1 D.I.C. •• 0 10 7 Electrolytic Zinc (pref.) Henry Jones Co op. 1 11 8 1 11 1 18 1 0 0 10 0 13 10 0 0 0 6 6 Hume Pipe (Aust.) 0 12 0 Howard Smith .. Kauri Timber 0 12 3 New Colosseum .. — 2 2 Mount Lyell 1 1 10 9 1 1 ii '» K A N.Z. Drug Co. .. 3 3 o a \J N.Z. Farmers' Coop., 4J p.c. stock, 1940 .. •• 62 0 0 05 0 0 NZ. Farmers Coop., 4£ p.c. stock, 1945 61 0 0 0 — N Z Newspapers 1 5 Wilson's Cement — 1 13 3 Wool worths (Sydney), pref., new. 1 6 3 £1 paid .. 1 0 1 Woolworths (Sydney), pref., new, I5s paid • ■ 0 14 0 — Woolworths (victoria), pref. 1 4 8 1 5 6 Mining. Bell Kilgour .. 0 1 0 0 1 0* Alexander (cum 1 0 o div.) /,o/c Alexander ClJ/b paid, tiic oiv.i 1 U 6 1 2 0

Big River 0 1 4} 0 13 Blackwater 1 5 10 — Central Shotover (9d paid) 0 1 2J 0 1 3i Consolidated 0 11 9 0 12 5 Cornish Point 0 0 54 0 0 6 Cornish Point (pref.) — 0 10 Freshf ord 0 0 94 0 10 Gillespie's Beach (9d paid) 0 1 64 0 17 Golconda (Gdpd.) 0 1 2 0 1 2J Golden Dawn .. 0 1 8 0 2 0 Golden Point 0 0 H 0 0 2\ Golden Sands (cum div.) 0 2 9 0 3 2 Mount David 0 1 3 — Mount Morgan .. — 2 I 0 Kildare 0 2 0 — King Solomon .. 0 1 10 0 1 m Lawson's Flat (Is paid) 0 1 V. 0 1 4 Mahakipawa 0 0 H 0 0 3 Mahakipawa (pref.) 0 0 2 0 0 4 Nokomai 0 4 0 0 4 9 Okarito 0 10 7 0 11 0 Paddy's Point .. 0 5 6 Waihi 1 1 6 — Waihi G. Junction 0 3 0 0 3 9 Waitahu (is 6d paid) 0 6 5 o o n Bulolo 4 2 6 4 10 0 "' UNLISTED STOCKS. All transactions in stocks quoted in this section are subject to double rate of brokerage and a re i not quoted on the official list. Buyers. Sellers. £ s. d. £ s. d. Aotearoa Gold Prospecting 0 2 0 0 3 0 Pell Hooper 0 0 10J o o in Charleston Sluicing 0 1 10 0 1 11 Maerewliemia 0 0 4 o o r>: Mining House Con. (3d paid) 0 o r. 0 0 5 J. Snowy River 0 2 10 0 3 0 Wetherstones (3s paid) 0 2 7 0 2 9 Sales. 1000 Mining House Concsssions 3d paid (2) 0 0 5 SATURDAY'S SALES. < huistchlrch. Sales on 'Change. Ii., S„ and A. Bank £ ;;. d. 5 0 (i Bank of Mew Zealand 2 8 3 N.Z. Kerri.;'. (10s paid i <:-!> 0 6 4 otaples Brewery Anthonv Jlordern I 0 9 0 10 6 Mount Lyell 1 1 11 Big River 0 15 Blackwater 16 0 Cornish Point (2) 0 0 6 Kildare 0 2 1 Lawson's Flat (Is paid) 0 1 34 0 1 4" Sales Reported. 4 p.c. Ins., 1955 (late sale 7th) 100 15 0 Bank of New South Wales 32 0 0 AUCKLAND. Sales on 'Change. £ s. d. 4 per cent. Stock, 1940 101 0 0 4 per cent. Stock, 195f i .. ; 100 10 0 Com. Bank of Aust. 0 16 24 0 16 3] Bank of New Zealand (2) 2 8 0 New Zealand Insurance .. 2 9 10 2 10 0 South British 2 17 9 Com. Brick and Pipe 0 4 3 Farmers' Fertiliser 0 16 6 Wilson's Cement 1 13 H Golconda 0 1 3" Waihi 1 1 lOi Waihi Junction 0 3 6"