AUSTRALIAN SHARES

Evening Post, Volume CXXVI, Issue 60, 8 September 1938, Page 12

AUSTRALIAN SHARES

MARKETS UNSETTLED

(By Telegraph—Press Assn.—Copyright.) SYDNEY, September 7. The Sydney share market is unsettled. Buyers are operating with clution, but prices are reasonably StGTiS' turnover continues below normal. Sales today included:— &^| y *^ i$ * Comm. Bank of. Aust. (N.Z. . delivery)' . V| J Colonial Sugar .• *•• i? n Associated Newspapers .... { i „ Associated . News. Cpref.) 1 2 9 Berlei Ltd 2 7 6 British Tobacco * ' ° Tooth & Co * 16. I Dunlop-Perdriau \ * " Lustre Hosiery ..... ......•• ± " " James Stedman Sweets .... 0 U a General Industries ........ oi» i B Sydney Ferries ,-••• V,2 § Nestles (pref.) I*9 Sargents ;■- nan United Provisions ........ " « « Woolworths Ltd nig in Wunderlich ° « x" Electrolytic Zinc nll i Mount Morgan " j£ * Broken Hill Pty * lb i Zinc Corporation * ' * Rawang Tin » °. * Placer Development ...... * ■»> a Oil Search ..••• n 1^ 9 Emperor Gold V 2 « Loloma 1 * a - MELBOURNE, September _7. On the Stock Exchange of Melbourne the bond market continues firmer with comparatively little offerIn£f The industrial share market is quiet. Barrier, mine shares, are dull ana easier, while gold shares are firmer. Sales included:— £ s. d. Comm. Bank of Australia 016 0 Nat. Bank of Aust. (£10) 13 13 0 G. J. Coles , J Australian Glass ', , o Dunlop-Perdriau • 1 * * Melbourne Invest. Trust . 010 o Felt and Textiles h }% a "Herald and Times" 2 17 9 Cox Bros 0 li 0 Yarra Falls •••-•• * 18. ? Aust. Found. Invest. Trust 0 5 1 Aust. Paper Mfrs. (pref., new, paid) i ~•'' o Mount Morgan Oil Z Broken Hill Pty • 2 16 9 'Emperor Gold . 0 13 2 Loloma Mines ...■••• i 4-iu •■ PRICE AND RETURN Latest sales reported and made on the Stock Exchanges of the Dominion, with the highest prices and the approximate yields per cent, per annum to investors (all subject to appropriate taxes and exchanges where operative) based on last year's distributions, and considering redemption and brokerage in the case of redeemable securities where dated, were as follows: — Highest Yield. price, p.c. p.a. £ s. d. £ s. d. Wellington. Inscr. Stock, 4 p.c, 15/4/46-49 a. 101 5 6 319 7 Inscr. Stock, 4 p.c, 15/2/43-46 a. 100 2 6 318 10 Bank of N.Z 22 1 4 15 0 Goldsbrougk Mort .. 17 6 5 19 N.Z. Breweries 200 450 Broken Hill Pty 217 3 4-7 4 Consolidated Brick .. 0 7 9 10 6 5 G. J. Coles ........ 318 10 4 8 9 Woolworths Ltd 1 0 10 3 12 0 Woolworths (W.A.) ~450 — Auckland. Inscr. Stock, 4 p.c, 15/4/46-49 ........ a. 101 0 0 402 Inscr. Stock, 3% p.c, 15/11/38-52 a. 100 10 0 — Bank of N.Z 2 2 0 415 2 National Insurance .. 016 10 4 9 1 N.Z. Breweries 2 0 3 4 4 5 Broken Hill Pty. .... 217 2 4 7 5 Broken Hill Pty (con.) 118 8 — Colonial Sugar 47 5 0 3 3 5 Imp. Chemicals (pref.) 1 1 8 412 3 G. J. Coles 318 3 4 9 5 Hume Pipe 019 10 6 10 N.Z. Newspapers 114 0 318 5 X N.Z. Paper Mills .... 12 6 6 4 5 Woolworths Ltd. .... 10 11 311 8 Fiji Kauri 0.9 0 — ■ ■ " ■ christenurch, N.Z. Farmers' Co-op., 4% p.c, 1950 90 10 0 512 3 N.Z. Breweries 203 44 5 Broken Hill Pty 217 0 4 7 8 Broken Hill Pty (con.) 118 6 — G. J. Coles 318 10 4 8 9 Taranaki Oil ■ 0 12 6 — Wilcox Mofflin ..,-.'.. 0 6 4 15 15 9 Woolworths Ltd. /... \ 1 010 312 ,0 Argd Gold 0 1 9 ■ — Broken Hill South .... 196 — Mount Morgan .... 010 11 — North Broken Hill ..240 — Woolworths Holdings 015 3 — Dunedin. Bank of N.Z 2 2 0 415 2 Broken Hill Pty 217 0 4 7 8 Hume Pipe 100 60 0 a,—Market price includes accrued interest but not brokerage. MINING NEWS REPORTS AND RETURNS Alexander Mines report for the month of August:—No. 6 rise extended further 34ft, making total distance 74ft above No. 6 level caps. At above height connection was made to bottom of winze sunk from No. 5 level. At junction of rise and winze preparations made for driving intermediate level north and south on reef. In the south endf of drive reef has average width of 2ft 6in and looks like widening. On north end reef is 2f* 6in in top of drive and about 6in in bottom. Assay values not yet to hand. No. 5 winze extended a further 7ft, when it broke through into rise from No. 6 level. No. 6 drive, driving north resumed with 3 shifts after the winze and rise connected. This face being extended 24ft for week, making 66ft from main crosscut. At a point about 50ft north from main level a large boulder was met with in reef track. Country has been fairly dry but now there is a fair amount of water coming out of the face. The slip at the mouth of the Mullocky Creek section drive cleared and entrance retimbered. A little quartz is showing in places along the level. Apparently the widest stone has been stoped out, leaving reef track in several places. At the end of the month an accident happened through the electric motor driving the compressor apparently short-circuiting, which caused a fire and destroyed the motor, rendering the compressor out of action. The last-named equipment is undamaged. 'A new motor is being procured and will be installed in a fortnight's time. Meantime, work is being done in the mine on hand steel until the rock-drilling machines are I again in operation. ARGO DIVIDEND. Argo Gold Dredging Co. has declared a dividend (No. 16) of Id per share (free of income tax), payable. Septem-j ber 21. This dividend represents a distribution of £2000 to the shareholders, which makes a total of £31,200 paid in dividends since operations commenced. The sum of £400 has been placed to the general reserve, which now stands at £3400. BLACKWATER MINES RETURN. The Blackwater mine's return for August is as follows: —Crushed, 3884 tons, yielding 1526 fine ounces of gold. Its value at 142s per oz was £10,837, and the working expenses were £7395, leaving a working profit of £3432.