WAIHI SHARES

Evening Post, Volume CIV, Issue 2, 3 July 1922, Page 7

WAIHI SHARES

A BOOM IN THE MAEKET.

( (II TELEGRAPH.—SPEWAL. TO THE POST.) AUCKLAND, This Day.

Considerable movement has taken place in Waihi shares on the Auckland exchange during the past month. The improvement in value commenced early in. April,' but this was slight by comparison with, prices quoted during the past week.1 At the end of March, buyers 'were offering 19s for Waihi sliares, with sellers quoting £1. In April they increased a little, quotations ranging between £1 and £1 2s. There was further improvement in May, values. fluctuating between 21s and 23s early, in June, and the average price was 223 6d. By the middle of the month quotations ranged between £1 4s 6d and £1 ss. Increase was steady until 21st June, when buyers were offering £1 6s 6d; sellers, £1 6s ,9d. Last Thursday sellers were quoting at £1 9s 6d, with buyers »t £1 9s 3d, the increase since May being 6s 6d. There was a phenomenal run on the market on Friday, and soles were effected at prices ranging fvom £1 10s to £1 13s 6d. The advance in Waihi is difficult to account for, unless it can be attributed to the fact that the views of Mr, P. J. Morgau, Director of the Geological Survey, as to the future possibilities of the.field are becoming more widely known, coupled, perhaps,, with imprpved values on the Edward reef at No. 12 plan level, and the more encouraging appearance of the Martha lode at the same depth. Mll. Morgan, does not hold with the conclusions arrived at some years ago by his, predecessor, Dr. M'lntosh Bell, and Mr. Oolin Fraser: but he is strongly of opinion that with greater depth there is more than a -probability that a secondary flnrichment will be met with. In some measure, this view is supported by the higher values disclosed in the Edward reef at tlie twelfth level during, the past few weeks, and -which, have been met with since the Director of Geological Survey conducted the -investigations which Jed him to predict tho likelihood of a secondary enrichment. Thpve is reason to believe that tlie Edward reef continues to look well, but so far there has. been no official information on the point or as to values,