THE INVESTMENT MARKET

Press, Volume LXXI, Issue 21387, 1 February 1935, Page 13

THE INVESTMENT MARKET

STOCK EXCHANGE YEAR

MORE CONFIDENCE SHOWN

Markets on the Stock Exchange duiing tha last 12 months were active, stated '.he chairman (Mr H. Kitson) ol the Cbnstchurch Stock Exchange, yesterday in his annual review, and the confidence displayed by investors was very marked in the earlier months of the last year. Gilt edged investments rose to prices that gave small returns on the capital outlay. Attention was then turned to shares in companies dealing in primary products. Encouraging prices for meat and wool made these investments popular. Balance-' sheets had disclosed figures that justified the support. The announcement of a meat quota had caused a slight reaction, but the market soon recovered. Industrials shared in the general rise and heavy trading place, chiefly in Australian controlled companies. MINING WAIHI RETURNS FINE OINCES IN 13 DAYS (ruiss 4ssociaiio<i TEi.r.i;ttAU.) AUCKLAND, January 31. The following information has been cabled to the London office of the Waihi Gold Mining Company, Ltd.:— For the period ended on January 19, comprising 13 crushing days, 10,797 tons of ore were crushed for a result of 3043 fine ounces of gold and 18,675 fine ounces of silver. This included 1016 tons from the Grand Junction area, which yielded 246 ounces of gold and 607 ounces of silver. Surface —The north-east crosscut from the school drive has been stopped. , No. 2 Level—Edward lode, south: We are now crosscutting to the northeast. , ~ No. 5 Level—Martha lode: Northwest crosscut at 800 feet west has been discontinued at 375 feel, as the No. 7 level crosscut will traverse the same .eround, the north branch of the Martha lode, for the next 2!) feet. West: Reef is broken up. and of little or no value. No. 7 Level—North branch ol Martha lode. Driving Is suspended at 634 feet west, and we are now opening out west on a vein at 555 feet. No. 12 Level. Edward lode —Driving south next 29 feet. Assays 27s 6d a ton, and next 11 feet 3s 6d a ton. Junction No. 6 Level —We have commenced a crosscut to the south-east at a point 365 feet west of No. 1 shaft, south-cast crosscut, and at 318 feet in have intersected quartz eight feet wide, assaying 10s 9d a ton. This is the south part of the Royal lode.

GOLD H'N PKO(;KES< COMPANY The following is a report received from the chairman of directors of the Golden Progress Quart/. Mining Company, Ltd.: — "I paid a visit of inspection to the mine on January 25 and found that the underground work had progressed considerably since starting after the holidays. The drive on the 200 loot level was sufficiently advanced to allow for a rise to be put up for sloping out the block of stone now exposed. From now on stone will be daily sent, to the battery, and crushing will be recommenced as soon as water is available to work the battery. There are still six men and a certificated enginedriver employed at the mine, but no gold returns can be obtained until there is sufficient water to work the battery." MACKTOWN DEVELOPMENTS LIMITED The mine manager's report for the week ended January 30 states that he sampled the Maryborough mine low level for a distance of 60 feet, and four assays gave lOdwt llgr. lldwt 7gr, sdwt 5 gr, 6 oz 15dwt 21gr.

(KM.('OM)A MINKS KKPOUT The mint' manner's report lor last week states: In the south-west drive on the main reel' we advanced 12 feet, a total distance from the shaft 73 foot. The reel' is over six feel wide, and good colours of .Hold were seen in a rib of quart/, in the foolwall. This is the first sold we have seen since we picked up the reef through the break. The reef is a -'cry strong body of quartz and I think it has been missed in the top levels. (;OI;f)K\ DAWN' IiHTI'KN For It working days the Golden Dawn return was £ll2B, with gold at £7 2s an ounce.. INCREASE IN CAPITAL TIUSTEE-, EXECUTORS, AN I) AGENCY COMPANY (press association tk.i.euham.) DUNEDIN, January 31. A poll of shareholders of the Trustees, Executors, and Agency Company, Ltd., on the proposal to increase the company's capital, resulted: For 312, against 219. The company's capital will therefore be increased from 10,000 shares of £5 i£2 paid up) to 20,000 of £5 each. At the Sydney enquiry into the affairs of the McArthur companies it was disclosed that a number of shares in the company had been acquired by the Investment Executive Trust of New Zealand, Ltd., and the directors decided as a precautionary measure that the capital should be increased. The representatives of the McArthur group demanded a poll, and the votes have now been recorded. SOCIETY OF ACCOUNTANTS ADMISSIONS TO MEMBERSHIP The following applications for admission to membership of the New Zealand Society of Accountants have been granted:— With the status of A.R.A.N.Z Messrs E. W. J. Bowden. N. J. R. Chapman. E. P. Counihan, H. Turner, and R. S. P. Simpson (Auckland), E. S. Rea (Dannevirke), W. T. Dean (Bulls), W. J. Bear, T. I. Benge, H. G. Murray, K. N. Robieson, H. J. Smith, P. E. Webb, and A. E. N. Wilkins (Wellington). Miss Gertrude Drummond and Mr J. T. Frew (Christchurch), Mr M. J. Boardman (Dunedin). With the status of A.P.A.N.Z.— Messrs S. E. Brown and R. C. Morpeth (Wellington), and H. L. Wilkinson (Christchurch). Transfers of status from A.R.A.N.Z. to A.P.A.N.Z. have been granted to Messrs A. D. Thomson (Dunedin) and H. E. Dowdy (Wellington).