MARKETS QUIET

Dominion, Volume 31, Issue 2, 28 September 1937, Page 12

MARKETS QUIET

Australian Stock Exchanges

CAUTIOUS TENDENCY jjy Telegraph.—Press Assn.—Copyright. (Received September 27, 9.20 p.m.) Sydney, September 27. The Sydney share market to-day was again quiet, with an atmosphere of caution. Price levels were virtually unchanged from last week, with a weaker tone in metal stocks. Sales: Bank of New South \V ales, too 7/6; Commercial Banking Co. of Sydney, £2O/15/-; Colonial .Sugar, £47/17/6. Burns, Philp, 57/-; ditto, rights, 34/-; Australian Gas, A. new, £7/3/6; Tooths, 55/9; Tooheys, 32/9. Australian Glass, 93/-; Dunlop Perdriau, 23/1J; Anthony Hordern, 19/-; Kandos Cement, 25/-; Mort’s Dock, 11/9. Felt and Textiles, 42/6; Sargents, 29/3; Gordon and Gotch, 53/9; Mauri Bros., 69/-; United Provisions,.7/8 tralasian Paper, 32/3; Meggitts, 32/-; Yarra Falls, 40/-. Electrolytic Zine, 55/9; ditto, pref., 56/G; Mt. Morgan, 10/11; Broken Hill Ppty., 77/9; North Broken Hill, 71/9; Broken Hill South, 44/6; Renong Tin, 43/9; Pungar Tin, 30/6; Tonkah Harbour Tin, -22/6. Morning sales included: Commonwealth bonds, 4 per cent., 1938, £lOl 13/9; 1941, £lO2/2/6; 1944, £103; 1947, £lOl/15/-; 1950, £lO2/7/6; 1961, £lOl 18/9; Commercial Banking Co. of Sydney, £2O/13/-; Associated Newspapers (pref.), 23/6; Broken Hill Proprietary, 77/9; Mauri Brothers, 69/-. Melbourne, September 27. On the Melbourne Stock Exchange today, an inactive market was awaiting the effect on the London market of the latest uncertainty in New York. Price fluctuations were narrow. Sales: National Bank, £5 paid, £7/2/-; British Tobacco, 49/9; Carlton Brewery, 64/-. G. J. Coles, 96/9; Drug Houses, 26/3; Dunlop Perdriau, 23/3; Goldsbrough Mort, 35/-; Carriers, January, paid, 34/9; General Motors, 24/9; Yarra Falls, 40/-. Mt. Morgan, 10/10; Mt. Lyell, 41/10J ; Broken Hill Ppty., 78/-; North Broken Hill, 71/3; Broken Hill South, 44/7i; Zinc Corporation, £6/10/-; Loloma, 20/9. LONDON MARKETS Tallow, Hemp, Eggs And Fruit The Department of Agriculture has received the following cablegram, dated September 24, from the High Commissioner for New Zealand, London: — Tallow —Market continues quiet on spot with prices unchanged. Hemp—Manila : Market quiet but idle. “K” grade quoted sellers, SeptemberNovember shipments, £27/5/-. Output, January 1 to September 21, 1,027,000 bales, against 953,000 for the same period last year. Stocks in United Kingdom, September 1, 10,626 bales, against 15,873 at the same time last year. Stocks in Manila, September 21, 182,000 bales, against 143,000 at the same time last year. Sisal: Market quiet and inactive. September-November shipments quoted, sellers, £27. New Zealand: Market very quiet, small business done in “common” at £25/5/-. Stocks in London, 88 tons, against 70 tons at the same time last year.

Eggs: Market firm at higher prices. English national pack, 16/6 to 21/6; English, ordinary paek, 18/6 to 19/-; Danish, 13-171 b. per long hundred, 12/6 to 14/6. South African, 141 b. per long hundred, 13/6. Apples and pears: Market steady. Californian Gravensteins, 10/- to 10/6; Jonathans, 12/- to 12/6; Newton Pippins, 12/- to 13/-; Beurre Hardy, 14/to 18/6; Comice, 22/6 to 24/-. Big River Report Big River Gold Mines, Limited, report for the period ending September 23:— No. 4 level, centre stope: In the north end the reef track has turned sharply into the footwall with 2ft. 6in. of stone showing in the face. In the south end taking out 3ft. of stone on the footwall track near the winze. South block intermediate stope: Carried the stope on the hanging wall side for 18ft. south. The stope overhead for this distance averages 9ft. 6in. wide. No. 5 level, south block stope: This stope is now filled and started another from the winze working north. Centre stope: Taking out a block of stone in the south end, which is 3ft. wide. North drive: This was advanced Bft. to 22ft. from the west crosscut. The country passed through consisted of reef track carrying a few small seams of stone. 96 tons of stone were delivered to the surface bins. Martha Operations The following information has been cabled to London by the Martha Gold Mining Company (Waihi), Limited: — No. 2 level, north branch of Martha lode: The rise has holed to the winze and driving has been commenced west of the 200 ft. crosscut. No. 4 level, east section of Edward lode: Driving north, the next 20ft. is ore of good grade about 4ft. wide. No. 6 level, north branch of Martha lode: The winze has connected with the rise and driving west has been recommended, the next 4ft. being ore of good grade about wide, but in the next 9ft. the reef is split up. No. 7 level: The Roach west crosscut driven from the Edward lode at 180 ft. southwest of No. 2 shaft, at 42ft. it intersected the west bxjiuch of the Edward lode, comprising four veins, and at 52ft. a drive south-west was commenced, the first 35ft. assaying 12/3 a ton, the width 1 being irregular. The next 13ft. is ore of good grade about 2ft. wide. Gold Mining Returns By Telegraph—Press Association. Auckland, September 27. The Mataki dredge return for the week ended September 26 was 27 ounces for 120 hours’ work and 8800 cubic yards. AUCTION DIARY TO-DAY. Wanganui Pedigree Bull Fair. 11 a.m. (IT. R. Jackson and Co., Ltd.). 57-59 Lower Cuba Street, 12.30 p.m.— Sale of Macdonald property, by Order Commissioner of Police (Davis Bros.). Foretell Spring Cattle Fair. 1 p.m.—700 sta-tion-bred cattle; 1000 mixed hoggets (N.Z. Loan aud Mercantile Agency. Ltd.). Levin Sale, 1.1.30 a.m. Waipukurau Sale. 10.3 U a.m. 8 Wilteston Street, 2 p.m.—Oiilce Furnishings (Johnston and Co.). 91 Dixon Street, 1.30 p.m.—Superior Furniture (C. W. Price). TO-MORBOW. Johnsonville Fat Stock Sale, 1 p.m.—llo Head Cattle, 1000 Sheep (Wright, Stephenson and Co., Ltd.). Wanganui Cattle Fair, Noon.—looo Mixed Cattle (Freeman R. Jackson). Masterton Sale, 11 am.—Mixed Stock. THURSDAY. Fifteenth Manawatu Jersey Bull and Heifer Show Sale.—Show at 9 n.m., Sale 10.30 n.m. (Wright, Stephenson and Co., Ltd.Abraham and Williams, Ltd.). N.Z. Christie’s, 18-24 Molesworth Street, 1 p.m.—Antique Furniture (McKenna’s). Dannetirke Cattle Fair. 11 n.m.—1500 Cattle. 1300 Sheep. Upper Hutt Stock Suh*, 1 p.m.—Mixed Stock (Dalgety and Co., Ltd.). H Willeston Street, 1.30 p.m.—High-class Furniture Johnston and! Co.)«

Dividends and Calls o

Nemona Gold —Id. per share .. Sept. 29 Smith ami Smith. Ltd. —ord., 74 p.c., pref, 5 p.c., p.a Sept. 29 Felt and Textiles —quarterly, 10 p.c., p.a. Sept. 30 Selfridges (A/usia.)—int., 4 p.c Sept. 30 British Tobacco, quarterly, 2 . p.c. . Sept. 30 Dunlop Perdriau —final pref., 5 p.c.; ord.. 4 p.e Sept. 30 Ptikemiro Collieries—final, 4-J p.c Sept. 30 North Broken Hill —final, quarterly, 1/6 per shnre and bonus 6d. ner share Sept. 30 General Industries —int., pref.. 3J p.c.; ord.. 5 p.t|. ........ Sept. 30 Cox Bros. (Austr. > —pref.. 7 p.c., p.a.: ord., final, 10 p.c. Sept. 30 Peninsula Tin—l/- a share .. Sept. 30 Rawang Tin—6d. per shnre .. Sept. 30 Morris, Hedstrom—int.. pref. 3 p.c Sept. 30 Bank of Australasia —int., 3/6 (sterling) per share, less Brit, income tax Oct. 1 Yarra Falls Ltd. —final. 5 p.c Oct. 1 Cash Orders (Aiisilg.)—quarterly, pref., 24 p.c Oct. 1 Nestles and Anglo-Swiss—-quarterly, pref., 2 p.c Oct. 1 United Striding (Christchurch) —int., 2-1 p.e Oct. 1 Beath and Co.—final, pref, and ord., 24 p.c Oct. 1 Farmers’ Auctioneering—ord., 6 p.e Oct. 3 C. L. Innes —pref., 6 2-5 p.c., p.a, ord., 8 p.c Oct. 4 N.Z. Newspapers—int., Bd. per share Oct. 6 Howard Smith, Ltd.—int., 2 p.c Oct. 6 Amalg. Zine (de Bavay’s)— int., 5 p.c., p.n Oct. 8 Milne and Choyce—final, pref. 3 p.c.; B. pref., 31 p.e.; ord. and deb., 3 p.c Oct. 9 Mount Morgan—int., 4} per share Oct. Woolworths (N.Z.) —pref., final 4| p.c Oct. Io South British Insurance —final, 1/5 a share Oct. 28 Imperial Chemical Industries — int.. ord.. 3 p.e Nov. 1 Martha Mime-int. 1/- per share Nov. 2

Skippers, Limited At the third annual meeting of Skippers, Limited, at Christchurch last week, the chairman, Mr. IV. F. Tait, referred to the increased gold production nnd the diminished working expenditure. He announced the completion of the hydroelectric scheme and described the difficulties of an engineering ns well as financial nature which were encountered in the execution of the project. The. plant was now working very satisfactorily. He outlined the main features of the proposed temporary tribute arrangement., whereby the company would retain a substantial proportion of the gold won, but woqld be released from all mining expenditure. The annual report and accounts were adopted unanimously. The retiring director. Mr. W. F. Tait, was re-clected. ROAD TRAFFIC IN BRITAIN Some Amazing Figures There is food for close study in “Basic Road Statistics.’’ published by the British Road Federation. Seldom have figures of so many facets of road transport been set out side by side, says the “Economist.” Revenue derived from motorists is cal ciliated to have risen from £37,671,000 in 1929 to £75,406,000 in 1936; while the total contribution of motor taxation to the cost of roads remained steady at just over £2l millions, except in 1934 and 1935. when it rose to over £25 millions. Treasury grants for road maintenance fell from £1'7,015.275 in 1929 to £12.874.898 in 1936, and gross expenditure on roads (including loans and the proceeds of rates) from £57,130.000 to just over £55 millions. In the same period the number of motor vehicles increased from 2,181.832 to 2.758,346. and the number per mile on all roads rose from 12.2 to 15.5, and on classified roads from 52.9 to 62.0. The index of accidents (1928 equals 100) rose from 103.9 in 1929 to 137.1 in 1936. and the total killed and injured from 177,613 in 1929 to 234.37-1 in 1936. The present position elenrly cannot subsist indefinitely. During July 607 people wore killed on the roads of Great Britain. 18 more than in July. 1936, and 23 more than in May of this year, when the previous highest figure was recorded. In juries numbered 22.728. also the highest total for any month in 1937. So long as the roads are inadequate to cope with the increasing flood of traffic and so long as the various road-users cannot adapt themselves to an almost impossible situation, so long will the danger to life and limb grow. 11