COMMERCIAL

Press, Volume LXX, Issue 21118, 20 March 1934, Page 14

COMMERCIAL

(CONTINUED FROM PAGE 11) MINING WAIHI SHARES activity on u CIvI.ANI) EXCHANGE [THE PRESS Spec!*! SeiTice.l AUCKLAND. March H>. The information published last week about the latest developments at the Waihi mine lu<s resulted in a mild boom in the shares on the Auckland Stock Exchange. To-day six parcels totalling between 600 and 700 shares, changed hands. The shares closed on sales" at 36s Cd, which is easily the highest price since the shares were reduced to 5s paid in 1926. The lirst signs ol' an appreciation in the market were seen about the middle of last week. Alter consistent transfer at 30s (3d, two parcels were accepted at 31s on Wednesday. Ihe sale price had moved to 31s 9d on Friday, and dealing took place up to 32s 9cl on Saturday. Tile rise was even more marked 10-day. when sellnig opened Us 3d hi'iiier at 355. Additional sales were made in the following order: —35s lid. 3Us <2i, and 30s Gd. ,i,i During the day sellers advanced their limits by '-'s to 375, offers being ;is 3d higher at 3i>s. Tile buying pressure is coming solely from local quarters. It is stated that London, winch has' caused seme previous upward movements, is not at present interested at the levels touched locally.

MATAKI KK'iTRN :r«i3s ASSOI u.u ■ ir.: miuk.) Al'%. IvI.AN'D. March l!i. The Mataki ivHiiti last week was 35 ounces for l-! 4 hours. OKAIMTO WASH-IT DUXEDIN. Ma roll 1!'. Tin.- Okarilu wash-lip !i>r tin- week ended Saturday was 3Uv. lixiwt for 120 hours' dred.niin;. him an r.OKi i> li i-:i x, i; ;i E».« > I I'.'K 1 M.IOIUJ.)

GRKYMOI'TH. March l'.i. The Hnan Bum return is ttlo;' 14dwt for 125 hours' working. CROWN MINKS 1) IV 11 >KM > [THE PRESS Special Scrvicu.l AUCKLAND. Mare!) 1!'. Cabled information has been received by its New Zealand attorney j that at. the annual meet in;: to be held ■ in London on Mareli 2S! the directors ; of tiie New Zealand Crown Mines., Limited, will reeommenu a dividend ; of 3d a share, less income tax at as I in the pound. Kxchaiige will be. added. | The net amount paid locally will, equal approximately 2,d a share. I [ TALISMAN IH TWO COMPANY i At the annual nieet,n.g i.t 'lie 'J all:,- t tr.an Dubbo Company in Auckland. the ; chairman stated that dur.ng January j and February a total of H)7.'Jl ions of ; ore had been treated for a return of | £2227. less cost of treatment 1:30.'!. Working costs ar.d overhead amounted to £SOO, leaving a net profit of £ 1364. i This surplus made possibie the dividend of 10 per cent., which would absorb : £371. Since the end of February a further' 4ti.59 tons of ore had been treated for a net realisation of £oo.'!. which would give a large profit over : working t MAUAKII'AWA .MINK M WAI.KK AIM'OINTKD i Mr F. C. Calvert. A.0.5.M.. A:,.-oc. j [nst. M.M.. Assoc. Aust. Inst. M M, has: been appointed mine manager of'' Mahakipawa Goidheids. Ltd. Alio: graduating at tiie Otago School of : Mines in 1921. Mr Calvert obtained extensive practical experience durum tiie • six years which he spent in various ■ mines in Tasmania and later accepted ; a mining appointment in the Malay f States. Since his return lo New Zoa- ! land he has obtained a first-class mine manager's eer?itiento, and is at prc.*ent ■ employed as manager of the Talisman Dubbo mine. Mr Calvert will take up his position with the company early sn • April. MA H A Kll'A W A H 1.11 UN The wash-up a! Mahakipawa fields last, week was 44 ounce- alluvial i gold. IMVKIMINf, I'll K SHdIOVKK With the object oi i, t; u j Shot over river at the Sandhill and 1 turning the water into a cut m order u> divert the river, the new Sandhill 1 Mining Ccir.pauj some months ago 1 entered on the soturv. hat ambitions undertaking of shooting a large bodv i of rock into the river. On Saturda'v : niternoon. in th.e pre.-ence „f about i 100 persons. the explosion took place. , Forty-one cases of blns'ing gelignite and live cases of blasting gelatine! comprised tl.e charge. which was j placed 50 feet into tiie 'nase of the hil! abutting on tiie site v. here it was pioposed to dam the Shotover. It is ( estimated, that, roughly 20,000 tons oi I rock was partially : .hot into the river i towards a stone h all on the other i side. Unfortunately, the big shot did not quite accomplish all that was expected of it. However, a large body of broken rock 'was deposited in the river, which rose between three and four feet and iust lapped the etitrance to '.he cut. With 'he ns-i-lauce of this and the haulage of a quantity of large stones info the cap it is hop: d in about a fortnight's time to complete the ! diversion.