COMMERCIAL

Evening Star, Issue 20556, 7 August 1930, Page 9

COMMERCIAL

THE SHARE MARKET DUNEDIN STOCK EXCHANGE. No transactions were effected on the Stock Exchange this morning. Bank of New Zealands provided a buyer at £2 15s 9d, but the seller's quote was £2 16s 6d. The quote for Commercial Banks was buyer £1 Is Id, seller £1 Is 6d, cum dividend of 9d. Union Banks were asked for at £lO 14s, but there was no response. Westport Coals were on offer at £ll3s 6d ‘ Daily Times ’ were available at £5 ss, but no buyer quoted. N.Z. Breweries were on tap at £2 10s 9d, but the best offer was £2 9s 6d. .. „ , , There was a buyer for Waihi Grand Junctions at 1b lid, but no seller quoted. _ The offer for Electrolytic Zincs, preference issue, was £1 3s 6d, but the seller’s price was Is away. There was a buyer for Okaritoi at 6s lOd, and the shares were obtainable at 6s lid without business resulting. Government Loans were inquired for at recent rates, but none of tbe issues was on offer.

DATES OF DIVIDENDS PAYABLE,

New Zealand Farmers’ Fertiliser (final), Is 7 l-6d, payable this month. Commercial Bank (final), 9d, August 8 (approx.). Bank of New South Wales (interim), 10s, August 8 (approx.). Wellington Woollen, final, 4s, August 20. Victoria Nyanza Sugar (final), Is 6d, end of August. Standard Insurance (final), Is 3a, September 2. Electrolytic Zinc (final), 9 3-sd, September 4.

OTAGO MUTUAL STARR-BOWKETT

SOCIETY.

A meeting of members of the Otago Mutual Starr-Bowkett Society was held last night, Mr H. Harris presiding. The Chairman explained that the meeting had been called to dispose of a £SOO free loan and a £SOO premium loan in the No. 2 group, and a premium loan of £SOO in the No. 3 group. The free loan in the No. 2 group was drawn by cluster No. 7, held by one shareholder.

The premium loan in the No. 2 group was drawn by marble No. 38. cluster No. 235, held by one shareholder. The premium loan in the No. 3 group was drawn by marble No. 26, cluster No. 100, held by one shareholder.

DUNEDIN STARR-BOWKETT. The advantages of the Starr-Bowkett principle were pointedly illustrated at the meeting of shareholders of the Dimodin Starr-Bowkett _ Building Society last night, at which Mr S. Smith presided. Three appropriations by sale wore offered, and the loans were secured at prices that really Have no relation to the current rates of interest... , ,

In No. 4 group £2OO was obtained at £l3 per £IOO and £3OO at £l2. In No. 6 group 6100 went at £ls and £2OO at £lO. There was no bidding for the balance ,of £2OO. In No. 6 group top price of £2l per £IOO was paid for £3OO, and £2OO was sold at £ls.

GOLDEN PROGRESS REPORT. The manager of tho Golden Progress Quartz Mining Co,, Ltd., reports under date, August 2. that the shaft has been sunk a further 13ft, making a total of 149 ft. The last nine feet have been opened out for the chamber. Trouble with the pumps caused the sinking of the shaft to be retarded. The country being passed through is al! quartz forr niation, and some portions of it look very promising for gold. _ A further two feet will be sunk tq give room for thc_ timber. When this is placed in position it would b« advisable t&. OP®B

up for the chamber set, and then to sink the sump or bore hole to the required depth. This will enable a larger pump to be installed, when the chamber will be cut to the required size. As soon as the sump is the manager intends finishing the chamber, installing cages, laying flat sheets, and putting in tumblers, or chairs. It is recommended that the erection of a tram and hopper a't the battery (which will be required by the time they are erected) be let on contract, as there are not men available for this work. The manager expects to cut quartz or reef before the “ Homeward Bound ” reef is reached. The plant is in. firstclass order, and working well.

LONDON FRUIT MARKET. The secretary of the Otago > Provincial Fruitgrowers’ Council advises that the High Commissioner’# cabled report on ‘ the London fruit market for the week ended August 2 is as follows:—■ Market continues dull, with slightly better demand for cold stored apples. Present quotations are" —Apples: Sturdier. 8s to 10s 6d; Dougherty,, 8s to 12s Cd; Delicious, 10s to 12s; llokewood, 10s to 13s; Jonathan, 10s to 11s: Statesman, 8s to 12s; Stumers (old stock ex ship) clearing at 5s to Bs.

LONDON METAL MARKET,

Pres? Association—By Telegraph—Copyright,

LONDON, August, 5, (Received August 6, at 1 a.m.)

Following are the official quotations in the metal market;—

Copper: Spot, £4B 16s lOJd; forward, £4B 15s 7id per ton. Electrolytic: Spot, £sl; forward, £52.

Wire bars, £52. Lead:. Spot, £lB ss; forward, £lB ss. Spelter; Spot, £l6; forward, £l6 12s 6d. Tin; Spot, £136 ISs 9d; forward, £l3B 18s 14d. Silver: Fine, 15 15-16 d per oz; standard, 17 3tl6d.

CEYLON TEA SALES. At this week’s tea auction in Colombo 1,870,0001 b were catalogued. With the exception of teas from the Uva district, the quality ot which is improving, quality was poor. Fine teaj were dearer generally, other grades with useful liquors were firm, but light liquoring kinds were irregular and easier. Next week l,000,00t)lb will bo offered.

Quotations as under;Buyer*. Seller*. £ i. d. £ a. d. BANKING— Australian Bank of Commerce 1 5 0 Bank of Adelaide ... —■ 6 18 0 Bank of Australasia —• 12 0 0 Bank of New Zealand 2 15 9 2 16 6 Bank of New Zealand (Long “ D ”) 17 0 _ Commercial Bank (cum div.) 111 1 1 6 E.S. and A. Bank ... 5 15 0 — Union Bank of Australia, Ltd. ... ... 10 14 0 — INSURANCE— National Insurance Co. 0 14 2 . Standard Insur. Co., (cum div.) ...; ... — 3 0 3 SHIPPING— Huddart, Parker (ord.) ... ... ... v 15 3 Huddart, Parker (pref.) , ... 10 3 U.S.8. Co, (pref.) ... 10 6 — COAL— Kaitangata Coal 0 5 Odis — Westport Coal Co. ... — 1 10 0 LOAN AND AGENCYNational Mortgage (B issue) ... 1 14 6 Wright, Stephenson (ord.) — _ 110 Wright, Stephenson (pref.) — — 0 15 4 MEAT PRESERVING— N.Z. Refrigerating (paid! ... 0 11 9 N.Z. Refrigerating (cont.) 0 4 6 0 5 3 Southland Frozen Meat (oout.) 0 18 3 — MISCELLANEOUS — British Tobacco ... ... 117 0 Ik 0 Brown, Ewing (pref.) Crystal loe Co. 10 0 — 110 — D.I.C. . lord.) Dounghy’s Rope and Twine — 113 1 13 6 0 15 6 Kaiapoi Woollen (ord.) — ' Kaiapoi Woollen (cont.) .. — , 0 4 6 Kauri Timber — 0 14 6 Milburn Lime and Cement (cont.) , r 114 3 Mosgiel Woollen Co. National Electric 6 5 0 — — 0 10 8 N.Z. Express (pref.) ... N.Z. Farmers’ Fertilisers 0 12 9 — 113 ‘ Otago Daily Times ’ — 3 5 0 Regent Theatre — 15 9 BREWERIES— N.Z. Breweries, Ltd. 2 9 6 2 10 9 N.Z. Breweries, Debentures 110 1 (T 0 Dunedin Brewery ... — MINING— Kawarau , ... ... _ ...i 0 0 44 0 0 64 Waihi Grand Junction 0 1 11 — Electrolytic Zinc (prof., cum div.) ... 1 3 6 14 6 Electrolytic Zir,c (def. ord., cum div.) 10 0 — Mount Lyell (ex “ rights ”) 0 2 6 13 6 Paddy’s Point ... ... 0 3 9 Ofcarito ... 0 6 10 0 6 11 Stony Creek ' — 1 0 0 4 dis Cornish Point ... ... 0 0 54 0 0 v. BONDS (Bonds quoted are £100 Bonds) — ’ 1928 41 p.c. Bonds ... 99 12 6 1939 H p.c. Bonds ... 99 12 6 *— 1941 4| p.c. Bonds ... 99 12 6 - — 1933 6j p.c. S.S. Bonds 99 0 0 —• 1938 4i p.c. Inscribed 99 10 0 — 1939 41 p.c. Inscribed 99 10 0 — 1936 51 p.c. Bonds ... 99 2 6 — 1936 5-| p.c. Inscribed 99 2 6 —