WAIHI MINE SHARES

Dominion, Volume 20, Issue 297, 14 September 1927, Page 14

WAIHI MINE SHARES

STEADILY RISING IN PRICE

Dominion Special Service. Auckland, September 13. The advance in Waihi shares which wai noticeable at the beginning of the month, has become very marked this week. On September 1 the shares sold at 19s. 7d.. and on Monday of last week they brought 205.; last Monday the price was 21s, 6d-. but to-day, after selling at. 22s and 225. 6d. at the morning call, they rose to 22slUd. at noon, and 235. in the afternoon. No definite official explanation of the rise is given, but it is thought likely that the company' has been able to acquire promising interests outside its present venture. This has frequently been svggested in tho past, and was hinted at by tho chairman (Mr. A. M. Mitchisou) in his speech at the last annual meeting, when he said the company nad united its ventures in Canada to subscribing for 5000 £1 shares in the Anglo-Canadian Explorers, Limited. 1 a company which Las a large interest in the Central Manitoba mine, tho prospects of which are regarded very hopefully. The local office of the Waihi Company state that, there is certainly nothing in tho company's pcblislird information that would account for the sudden rise. Officials of the Stock Exchange profess themselves to be quite in. the dark as to-what is behind the movement, but it is known that t-he great bulk of the demand has come from London. It has been'steady since Easter, and from the beginning of, Jane until now--6000 shares have been transferred from New Zealand to the London register. Of tho 495,000 shares issued. 229,400 are held in New Zealand. Last year the movement, was in the opposite direction, and 50,000 shares were transfered from London to ’ New Zealand; but already this year 11,000 shares have gone from the Dominion. Advices received indicate that the demand is continuing.