COMMERCIAL

Evening Star, Issue 20311, 21 October 1929, Page 7

COMMERCIAL

THE SHARE MARKET DUNEDIN STOCK EXCHANGE. The usual Monday morning quiet pervaded the morning session of the Stock Exchange. Prices were on a par with closing rates for last week. There was a I seller of Dominion Rubbers at 31s, but buyers were reticent. There are constant ■ inquiries for Auckland and Christchurch Gas shares, and this morning buyers, of- | fered 24s 7d and 26s 6d respectively without receiving any reply. An offer of ,24s 6d for Grey Valley coals brought forward no answer, from sellers. South Otago Freezing shares were available at 72s 6d, without a buying offer. Sale on ’Change:—Kildare, 4s. Quotations as under;

GOLD MINING. STONEY CREEK COMPANY. The secretary of the Dunedin Stock Exchange received a report from the Stoney Creek Gold Alining Company this morning stating that a contracthad been let by the company to MiNelson for the placing of the whole of the necessary plant and buildings on the claim and effecting the necessary work up to the stage of commencing operations on the wash. The contract price was £S7o. which includes the purchase price of all necessary plant as well as the cost of its erection. Air Nelson has the work well in hand, and workmen’s quarters and a smithy are already built. v It should therefore not he long before the company can commence actual mining operations. WINDING CREEK WASH-UP. In a report received by the secretary of the Dunedin Stock Exchange this morning it was stated that the company had a wash-up last Thursday. The return for twelve working days was 25|oz. The report also stated that, in spite of the extremely dry weather during tho past two months, it was worthy of note that there was no appreciable diminution of the amount of water in the company’s races.

PACIFIC ST A PR -BOWK EXT. SOCIETY’S ANNUAL MEETING. ' The annual meeting of the Pacific I Starr-Bowkett Building Society was : held on Saturday night. Mr J. H. I I Hancock (chairman of directors), presided. " v In moving the adoption of the art--1 nnal report > ■ and balance-sheet the 1 Chairman said that at the last .annual meeting the society had just recovered from the excitement of floating the No. 6 group, which had been one of the most successful flotations of its kind ever made in Dunedin. In the short ■ space oF twelve months which had elapsed No. 7 group had; also been successfully floated. A good many thousands had been distributed during the year, and ns there was a balance of £IO,OOO there would probably be con--1 siderable distributions during the coml ing year. He and Mr E. K. Broad, , who were the retiring directors, had l automatically been re-elected. : Mr J. W. Dove said that the present chairman had been chairman or directors throughout the society’s life of twenty-four years. It must be gratifying to him to see the progress which the society was making. lie was sure that the shareholders had every confidence in their chairman. I A member asked when No, S group

would be wound up. No money hat? been available for the past twelve, months. The Chairman said that he did nob know when the group would be closed. Too much had been advanced previously, and there had also been a considerable number of withdrawals. No. 1 group .would be closed this year, and the directors would do their best to bring. No. 2 group to a close as soon as possible. The adoption of the report was carried. Messrs George Blyth and Co. and E. H. Fulton were re-elected auditors. In view of the formation of the No. 7 group the directors’ fees were increased by £4O to £250. A motion that the directors should be granted a bonus of £SO for their work in the No. 7: group, for which they had received no payment, was withdrawn, the Chairman stating that the directors did nob desire any extra fee. In a ballot for the disposal of the twenty-second- appropriation of £I,OOO in the No. 3 group, cluster No. 1, held by. two shareholders, was successful. * Cluster No. 150, lield by one shareholder, was drawn in a ballot for the disposal of the seventh appropriation of £I,OOO in the No. 6 group. AUSTRALIAN LOAN ISSUES. FURTHER DECLINE REPORTED. PrtM Assr elation—By Telegraph—Copy rig ht. LONDON, October IS. Several Australian loan stocks showed a further decline to-day. The ‘ Morning Rost’s ’ financial editor points out that since Monday Commonwealth lives! (1935-40) and 4J (1940-60) jdropped 2 per cent., and fives (1945-75) 23 per cent.; while there were declines ranging; from If to of- in some Australian State loans. Quoting the speech of the chairman of the Broken Hill Proprietary, he says: “It is the trend of industrial legislation, with its inevitable _ effect upon the country’s finances, which lias disturbed the minds of investors. Although the stock markets are now admittedly unsettled, the fail in Australian stocks within a few days strikingly contrasts with the present stability of British gilt-edged issues, while New Zealand loans have remained steady throughout the week. —Australian Press Association. MEAT MARKET. Pi (as Association—By Telegraph—Copyright. LONDON, October 19. Sheep: Canterbury Light o£d* medium Ofcl, heavy 6d; North Islandlight 6|d, medium 61 d, ewes 4£d; Australian —seconds 43d, ewes 4Jd. Lambs: Canterbury—Heavy 7 ad* seconds 7gd; selected brands B|d and 7|d; North Island —firsts, light Bd, : seconds ■ 7 fd; Australian—Victoriam seconds 7jd, oher States 7£d, thirds 7£d; Aj-gentine, seconds, GJd; Patagonian, seconds, 63d._ Beef : Australian frozen crops, 4Jd;‘ Argentine—chilled fores 4Jd, hinds 65d;l others, unchanged.— Australian Press* Asociation. COTTON, RUBBER, ETC; i Press Association—By Telegraph—Copyright. LONDON, October 17. Cotton: November, 9|d per lb. Rubber; Para, . 9§d; plantation, smoked, 9Jd. Jute: October-Noyember, £29. Hemp: None offering. Copra : October-November, South Sea, £2l 17s fid; plantation, Rabaul, £22 Linseed oil, £46 10s. Turpentine, £44. —Australian Press Association. THE WHEAT MARKET. L*m« Association—By Telegraph—Copyright* LONDON, October IS. Wheat cargoes are steady in sympathy with the better reports front North and South America. Quotations are steady, but the demand is quiet. Parcels moved slowly to 3d advance,with small inquiry from India for Australian. Futures: London —October 50s ltd,' November 50s 2d, December 50s bd, January 51s 4d; Liverpool—October 9s, December 9s 4-|d, March 9s 1 l;(d, May 10s. 3 JcL—Australian Press AssociationUnited Service. October 19. (Received October 21, at 1 a.in.) Wheat cargoes are dull, at prices showing 3d to Od decline. Parcels are inactive, the quotations being 3d to 6d under yesterday’s levels. Futures: London—October 49s 7d, November 49s 7cl, December 50s lid, January 51s. Livenpool—October Ss 10 3-Bd, December 9s 3d, March 9s lOld, May 10s IJd. —Australian Press Association-United Service. 1 DAIRY PRODUCE. The National Mortgage and Agency Company is in receipt of the following cable from Messrs A. J. Mills and Co., Ltd., London:—Butter; Market slow; Finest New Zealand, 3S2s J-o lS4s; first grade New Zealand, 178 s to 180 s; Danish, 192 s to 1945; Australian. 176 s to 178 s: New Zealand nnsalted, 186 s to ISSs; Irish. 1765; Continental market steady. Cheese; Market slow; New Zealand white, 935; New Zealand coloured, !)2s‘ to 935; Canadian white and coloured, 94s to 965.

' . Huvers. Sellers. BANKING— £ s. Q. £ t. d. Aust. Bank of Com. — 1 14 0 Bank of New Zealand 3 0 3 3 0 6 Commercial Bank ' 18 9 Commercial Bank of 25 0 0 Sydney ... National Bank of New Zealand 6 14 0 6 16 0 National Bank of Aus tralasia (cent.) — 9 4 0 Union Bank of Aus14 13 0 Iralia, Ltd. INSURANCENational Insuv. Co. Soutli British Insur. 0 16 4 0 16 9 Co. 3. 6 6 — Standard Insur. Co. ... SH1PPINGHuddart, Parker 3 5 6 (ord.) . ... — 2 3 9 U.S.S. Co. mreld - 10 9 —- COAL— . Westport Coal Co. 1 14 3 — ■ Grey Valley 1- 4' 6 ~~~ LOAN AND AGENCYDalgety and Co. — 14 2 6 Goldsbrough, Mort ... 2 4 9 National Mot.gage ... — + / d Perpetual' Trustees ... 3 8 0 — Trustees, Executors ... MEAT PRESERVING— N.Z. Refrigerating 2 0 0 0 14 0 (paid) ... — N.Z. Refrigerating 0 6 1 (cont.) 0 5 10 South'Otago Breezing MISCELLANEOUS— 3 12 6 Broiyji, Ewing (ovd.) 1 10 6 Brown, Ewing (pref.) 1 0 6 D.I.C. (ord.) 0 12 0 D.l.O. (pref.) ... ... Dental and Medical 116 Supply I 4 0 0 10 0 Dominion Investments — Dominion Rubber ... Kaiapoi Woollen 1 11 0 (ord.) Kaiapoi Woollen 0 13 6 (Cont.) ■ 0 4 3 Kaiapoi Woollen (prcl.) 0 1+ 0 Milburn Lime and Cement (ord.) 1 17 ' 0 1 17 9 Mosgiel Woollen Co, 7 15 0 ’ National Electric 0 3 0 0 11 0 N.Z, Drug Co. ... ... 3 13 6 — N.Z. Paper Milk ... 10 0 10 9 N.Z. Sugar of .Milk 0 14 0 ' Otago Daily Times ’ Smith and Smith -- 3 14 0 (pref.) ... 0 19 U — Wilson's Portland 2 2 6 Cement — Farmers’ Fertilisers 1 X 6 Auckland Gas 1 4 7 — Christchurch Gas BREWERIES16 6 N.Z. Breweries, Lid. 4 8 0 — N.Z. Breweries Debs. — 19 6 Staples’s Brewery ... Timaru Brewery MINING2 13 3 2 14 6 0 .15 b Kawarau » 0 S 0 0 7 Nokomai Sluicing 0 15 U . Waihi 0 13 4 Electrolytic Zinc 1 15 0 (pref.) ... Mount Lvell 2 2 0 2 2 6 Stony Creek 0 0 6p 0 0 7p Ohinenum — 0 10 6 Big Beach 0 3 6 0 b 0 Kildare ... ■ . 0 3 11 0 4 1 Winding Creek 0 0 8p 0 1 Op Winding Creek 1 (paid) 0 15 0 18 WAR BONDS iBouds Bonds)— quoted are £100 1930 4£ p.c. Bonds 1938 4.' ( p.c. Bonds 99 5 0 — 100 0 0 — 1959 44 p.c Bonds 100 0 0 — 1935 54- p.c. S.S. Bonds 101 5 0 -- 1958 4 ! r p.c. Insc. ... 100 0 0 100 10 0 1959 4t p.c. Insc. 100 0 0 ’ 1933 5£ p.c. S.S. Insc. 101 0 0 — 1941 4.',- p.c. Bonds ... 100 2 6 1941 5i p.c. Inscribed 99 10 0 100 0 0 1930 5i p.c. Bonds ... 99 10 0 193654 p.c. Bonds 101 5 0 — 1936 5£ p.c. Insc. 101 5 (I — 1953 5-\-p.c. Bonds 99 10 0 — 1933 51 p.c. Ime. 99 10 0 —