COMMERCIAL

Evening Star, Issue 20506, 10 June 1930, Page 7

COMMERCIAL

THE SHARE MARKET DUNEDIN STOCK EXCHANGE. There were no business transactions on the Stock Exchange this morning, although buying and selling quotations were in some instances fairly close. Buying quotations predominated in the banking section, and £l2 6s was offered for Bank of Australasias, £39 15s for New South Wales and £2 19s 9d for Bank of New Zealands without any selling quotations. Commercial Banks wore wanted at £1 2s 3d, but the sellers’ price was £1 2s 6d. National Insurances were on offer at It 7d without response. Huddart, Parkers were asked for at £1 18s, but there was no seller. The quotations for Milburn Lime and Cements were: Buyers £1 12s 9d, sellers £1 Its. There was a seller of Breweries at £2 12s 9d, hut the buying offer was only £2 11s 6d. Waihis had inquiry at 13s 6d, and the seller asked Its. The quotation for Okaritos was buyers 3s td prem., but the seller asked 4s prem. Golden Progress were on offer at 10s prem., but there was no response. Government Debentures had a long list of buyers, with no sellers. Quotations as under; Buyers. Sellers. £ s. d. £ s. d.

DATES OF DIVIDENDS PAYABLE

Perpetual Trustees (final), Is 4 1-od, Juno 14 (approx.). Bank of New Zealand (final), Is 6d 4-3 d (including bonus, Is 4 4-sd), June 21. Bank of NeW Zealand, long D (final), Sd, Juno 21. Mount Lyell (interim), Is. Juno 23. 'Non' Zealand Loan and Mercantile (£IOO ord. interim), £2, June 30. _ “New Zealand Loan and Mercantile (£lou prof, interim), £2 10s, June 30. *New Zealand Loan and Mercantile (£IOO second pref., interim), £3 ss, June 30. *Lcss English income tax. WAIHI GOLD MINE. Tlio superintendent of the Waihi gold inino (Sir H. W. Hopkins) reports that the principal operations carried out underground during the four weeks ended April 5 last were as follow: —

Martha Lode in William South-east Crosscut (No. 13 Level).—Driving east and west on the course of the lode was commenced at 120 ft from the south side of the north section drive. Eastward 16ft was driven, and the assay value over this length is 43s 6d per ton. The width of the quartz is about* oft. Westward 20jft was driven. The width of quartz is about 3ft. The average assay value to 17ft is 52s 9<l per ton. Brooks north crosscut (No. II level), near oast boundary, was continued to Jtwri't. From 143 ft to 166 ft is Martha lode of little or no value, and from 166 ft to 167ift is soft, slidy country. Driving west was commenced at the 133 ft point, and carried to 34J-fi. The value is low.

Empire south wall gangway (No. 11 level), west of hath north-west crosscut, was advanced to 168Jft. At 130 ft the drive was diverted north-west, and at 152 ft intersected the south part of Empire lode, the width being 13ft of very low value. Martha lode, east of Boundary crosscut (No. 10 level). —The drive followed a seam of sulphide or© on the south wall from Sin to 12in wide, with calcite showing on the north side. At 100 ft a crosscut was commenced towards the north, which has exposed 20ft, mostly of calcite.

South part of Empire lode (No. 11 level), west of London south-east crosscut. 222£ft this drive connected with old workings on the main Empire lode. The assay value during the period ranged from 7s lid to 79s 8d per ton over a width of about 2ft of lode. •

Martha Lode (No. 9 Level). —Crosscutting south was resumed at 440 ft cast of No. 6 shaft crosscut to prospect for the pay ore met on tb© Martha

lode east of Boundary crosscut at No. 10 level. The first, foot is country rock, the next 4ft calcite, the next 4ft i< sulphide ore assaying 37s per ton, and the last 7ft a mixture of quartz and country, assaying 9s 3d per ton. BANK OF ADELAIDE. The report of the directors of the Bank of Adelaide for the year ended March 31 states that, after paying steady 10 per cent, dividend since 1918, they have, in view' of the present uncertain financial outlook, decided to drop I per cent, for the year just ended, and only 9 per cent, went to shareholders. Net profits at £138,108 worked out at a shade over 11 per cent._ of the paid-up capital. An interim dividend at the rate of 10 per cent., per annum absorbed £62,500, and the reduced final dividend at the rate of 8 per cent, per annum Jook £50,000; the sum of £15.000 was transferred to reserve fund, bringing that fund up to £1,000,000; and the sum of £49,482 was carried forward. FERTILISERS IMPORTED. The use of fertilisers is steadily growing, and tho trade has now assumed important dimensions (states the ‘ Mercantile Gazette ’). Last year’s imperii were valued at £821,909. as compared with £618,055 in 1928, £495,370 in 1927,. £517,424 in 1926, and £430,611 in 1925. Phosphatic fertilisers are growing in popularity, and this class forms the bulk' of the imports, largely mineral phosphates for tho manufacture locally of superphosphate. Imports for the: year ended March 31 last amounted to| 363,762 tons, valued at £864,367, as; compared with 331,897 tons, valued at. £691,071 in 1928-29. Of the latest; year’s total 170,997 tons was Nauru and other island phosphate, 73,072 tons-. North African phosphate, 94,332 tons' basic slag, 11,015 tons sulphate of am-? monia, leaving 19,346 tons of all other 1 kinds. THE FLAX-GROWING INDUSTRY. ! A note of optimism in' respect to tlw> New Zealand flax-growing industry was! sounded by Lord Bledisloe at the Wai- \ kato Winter Show recently. He had regretted very much, said the j Goveruor-Geenral, to read that a num-; her of llax-mills were closing down on : account of the unfavourable state of; tho market. Prior to leaving England : he had been urged to do all in his power to promote the development and production of New Zealand flax. There was a definite demaild for it in Belfast, where the manufacturers showed a decided and growing preference for the. New Zealand-grown article. GRAIN AND PRODUCE. f Messrs Dalgcty and Co., Ltd., report : Oats. —Very few samples are coming to hand, and it now looks as if threshing is completed. There is still a gooddemand for shipment, and values remain firm at 3s 3d per bushel, on trucks (sacks extra!, for A Cartons, and 3s Id: for B’s. Tlxere is now some inquiry ; for seed purposes, and suitable finest are likely to be in good request. Wheat.—Any available lines are sale-, able at ruling prices, but very little wheat now remains unsold. Values are . as follow;—Tuscan 5s 9d, Hunters ss ' lid, Velvet os lid, on trucks (sacks 1 extra). Fowl wheat is in steady de- ; mand, and stocks are light. Sales are | being made at from 6s to 6s 6d, ex i store.

Chaff.—There is a steady sale for. prime quality chaff, and very little isnow held in store. Farmers are strong holders, and _ there is not likely to be much cutting now' until the spring, ; There is still a good inquiry for ship- 1 ment, but suitable lines are difficult to secure. Prime quality is at present; selling at £5 10s per ton 1 , ex truck. Potatoes. The demand continues, poor, and most of the consignments; coming to hand are being taken into; store. Merchants appear to have ample supplies, and Canterbury con-1 signments , are arriving at prices con-{ siderably under what southern grow-’i ers are prepared to sell. at. Current value for good tables is £5 per ton, ex' truck.

SOUTHERN STARR-BOWKETT

SOCIETY.

A meeting of the Southern StarrBowkett Society was held in the office of the secretary last night, Mr H. T. Speight presiding over a small attendance of members. The .meeting was held for the purpose of disposing of £1,500 by the following appropriations;—Group 3: Fifty-sixth appropriation of £SOO by sale, fifty-seventh appropriation of £SOO by ballot; group 5, twenty-ninth appropriation of £SOO bv ballot.

In group 3 the fifty-seventh appropriation resulted in cluster No, 44 being drawn, the shares being held by : three shareholders. No tender having been received for the fifty-sixth appro- ■■ priation, this sum was disposed of by a ballot, and resulted in cluster No. 32 ; being drawn, the shares being held by . two shareholders. Unfortunately, one of these shareholders was unfinancial, ( and was therefore unable, under the! rules of the society, to obtain his loan; of £3OU. In group 5 the-twenty-ninth appropriation resulted in cluster. No. 41 being drawn, the shares being held 1 by one shareholder.

BANKINGAus. Bank of Coin. 1 4 9 — Bank of Australasia 6 0 —. Bank of N.S.W. ... 59 15 0 — Bank of New Zealand (cum div.) 2 19 9 — Bank of N.Z., Long ... “ D ” (cum div.) ... Commercial Bank ... 1 7 0 1 8 6 I 2 3 1 2 6 National Bank of New Zealand 6 5 0 — Union Bank of Australia, Ltd. ... ... 12 5 0 — INSURANCE— National Insur. Co. — 0 14 7 New Zealand Insurance Co ... 2 4 0 — S. Brit. Insur. Co. 2 19 0 — Standard Insur. Co. 2 17 0 — SHIPPING— Burns, Philp. 1 15 6 — Howard Smith 1 0 0 — Huddart,. Parker ( 0, 'd.) 1 IS 0 — Huddart, Parker (pref.) — 1 0 0 U.S.S. Co. (pref.) ... 1 0 0 — COAL— Kaitaugahi Coal ... 0 f) Od — Westport Coal Co. ... 1 10 3 — Westport-Stocktou • (oid.) 0 2 0 LOAN AND AGENCY— Goldsbrough, Mort ... N.Z. Guar. Corp. ... — 1 13 0 0 7 6 — Wright, Stephenson (ord.) 1 0 4 1 2 6 Wright, Stephenson (pref.) — 0 16 6 MEAT PRESERVING— ' N.Z. Refrigerating (paid) 0 11 6 — N.Z. Refrigerating (cout.) 0 5 3 0 5 9 Southland Frozen Meat (pref.) ' 1 17 s0 — MISCELLANEOUS— * Colonial Sugar Co. 41 10 0 —- Crystal Ice Co. (ex div.) ' 1 1 0 — D.I.C. (ord., 10s paid) 1 1 0 — D.I.C. (pref.) 1 0 3 — Dominion Rubber — 1 0 0 Donaghy’s Ropo ami Twine , 1 15 5 — Kaiapoi Woollen (ord.) ■ ... - 0 32 2 — Kaiapoi .Woollen 0 (cout.) 0 4 — Kaiapoi Woollen (pref.) ... 0 14 0 — Milburn Lime and Cement (cout.) ; ... ■ 1 12 9 1 34 0 National Electric — 0 11 0 N.Z. Drug Co > z 6 N.Z. Express (ord.) ... 0 14 0 N.Z, Express (pref.) 0 15 9 0 17 9 N.Z. Farmers’ fertilisers ... ... ... 0 19 9 — N.Z. Paper Mills ... 0 19 0 0 19 9 BREWERIES— N.Z. Breweries, Lid. 2 11 6 2 12 9 Dunedin Brewery ... 1 S .0 1 7 9 MINING— Kawarau ... 0 0 5 -- Waihi ... ... 0 13 6 0 14 0 Mount I/y p ell (cum div.) I 9 0 ' 1 9 9 Molyneux Electric ... 0 1 4 — Paddy’s Point Big Beach 0 0 3 10 4 0 0 6 0 Okarito Cl 34p 0 4 Op Winding Creek par Stony Creek par Cornish Point (paid) 0 0 7 0 0 11 Golden Progress — 0 10 Op WAR BONDS— I 1 12 o lioo : Bonds.) 1938 4i p.c. Bonds ... 98 15 0 — 1939 4£ p.c. Bonds ... 98 15 0 ■— 1941 4t p.c. Bonds 98 15 0 1953 5-.V p.c. SIS. Bonds 99 2 6 — . 1938 4£ p.c. Inscribed 98 12 6 ■— 1939 41 p.o. Inscribed 98 10 0 — 1936 51 p.c. Bonds ... 99 5 0 —