COMMERCIAL

Evening Star, Issue 20999, 13 January 1932, Page 10

COMMERCIAL

THE SHAM MARKET DUNEDIN STOCK EXCHANGE. No sales were reported at this morning’s m ßankmg shares were quiet, New Zealands being wanted again at £2 4s, with a seller at £2 ss, while £1 5s was offered for the long “D” issue. Sellers of Nationals of New Zealand eased to £4, but the shares were not wanted. .. . Contributing ■ N.Z. Refrigerating shares were the only meat preserving stock to be . quoted, buyers offering 4s 7d, with a seller Tobaccos were sought for at £1 6a 3d, sellers asking Is more. Colonial Sugars were offered £4l without a buyer offering. . . , . ~ N,Z Breweries were again obtainable at £1 8a 9d, and buyers improved their quote to £1 Bs. „ , In the mmmg section buyers offered £1 Os 3d for Mount Lyells, while sellers of I Okaritos increased their price to 10s lid, buyers offering 10s 6d. . . Government Bonds came in for good inquiry.

FOREIGN EXCHANGES.

(British Official Wireless.) Press Association—fiy Telegr .ph—Copyright,

METAL MARKET.

Press Association—By Telegraph—Copyright,

LONDON, January 11. (Received January 13, at 1 a.m.) Following are the official quotations * in the metal market:—

Copper.—Standard, £4l 3s 9d ton; forward, £4l 6s 3d ton. Electrolytic.—Spot, £47 10s ton; forward, £49 10s ton. Wire bars, £49 10s. Lead.—Spot, £ls lls 3d ton; forward, £ls 7s 6d ton. Spelter.—Spot, £l4 14g 4Jd ton; forward, £ls 2s 6d ton., Tin.—Spot, £142 14s l)d ton; forward, £145 3s 9d ton. Silver.—Fine, 21 9-16 d per oz; standard, 20d per oz. LONDON STOCK EXCHANGE. (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, January 11. The Stock Exchange in London opened with a weakness which was especially noticeable in the foreign bonds section, where German loans suffered a setback. German sevens re- ■ lapsed by nearly three points at 66J and 5J per cents., two points lower at 51. SYDNEY STOCK EXCHANGE. Press Association—By Telegraph—Copyright. SYDNEY, January. 12. There was considerable activity in Consolidated Loans on the Stock Exchange to-day, but in a slightly weaker market 4 per cent., 1938, receded to £95 2s 6d, 1941 to £94 lls 3d, 1937 to £94 2s 6d. Irregularity prevailed in regard to other issues, but buyers were'ever ready to snap up anything a bit low. Banks showed little appreciable 1 change. There were sales of Bank of New South Wales at £3O 12s 6d, Cpm-

mercial of Australia at 16s 4id, National Bank (fully paid) at £l2 17s 6d, Queensland National at 120 s, New Zealand 5} per cent. Debentures at £ll2, Colonial Sugar Company at £45, Goldsbrougb, Mort at 27s 9d, Australian Gaslight A shares at 110 s, Burns Philp at 395, British Tobacco at 30s 6d, Tooths Brewery at 275, Broken Hill Proprietary 7 per cent. Debentures at £lO2 ss, Broken Hill South at 46s 6d, and Zinc Corporation (pref.) at 13s 9d. CHICAGO WHEAT MARKET. Press Association—By Telegraph—Copyright. CHICAGO, January 11. Wheat: March, 55i cents per bushel; May, 57; July, 56f; September, 57£. SYDNEY WOOL SALES. A STRONG MARKET. Press Association—By Telegraph—Copyright. SYDNEY, January 12. At the wool sales 10,738 bales were offered, 10,349 being sold, while 498 were disposed of A very strong demand prevailed, prices showing a further hardening tendency for all descriptions. American buyers displayed greater activity. Greasy merino made 17d. LONDON WHEAT MARKET. Press Association —By "'elegraph—Copyright. LONDON, January 12. (Received January 13, at 11.30 a.m.) Cargoes are quiet and inclined to be easier owing to freer offers of La- Platas and Australians. Parcels are in poor demand ; occasionally, lower. Western Australian, February, ex an unnamed ship, 27s 9d; ex the City of Eastbourne, 27s IOJd. Futures: —London: . February, 24s'6d; June, 26s Id. Liverpool; March, 5s 4d; May, 5s 6 l-8d; July, 5s 7 5-Bcl. THE LEAD MARKET. Pres* Association—By Telegraph—Copyright. LONDON, January 12. (Received January 13, at 12.40 p.m.) Lead: Imports, 32,348 tons (Australian 12,876); exports, 1,952, LONDON STOCK EXCHANGE. Press Association—By Telegraph—Copyright. LONDON, January 12. (Received January 13, at 12.40 p.m.) P. and 0., 21s 9d; Dalgety and Co. shares £7 Is 3d, debentures £66 10s; Goldsbrougb Mort, £6l 10s (ex div.). Australian Government stocks hardened all round. Numerous dealings in Commonwealth 5 per cents ranged from £BO 10s to £Bl 15s, and 6 per cents from £93 to £94. A number of States advanced 30s to 60s. PRICE OF GOLD. Press Association—By Telegraph—Copyright. LONDON, January 12. (Received January 13, at 12.40 p.m.) Fine gold is quoted at £6 Is 4d per oz. NEW ZEALAND INSURANCE. DIVIDEND DECLARED. [Pek United Press Association.] AUCKLAND, January 12. The directors of the New Zealand Insurance Company Ltd. have declared an interim dividend of Is a share for the half-year ended November 30,1931. The dividend is at tho same rate as that paid last year. KING SOLOMON DEEP LEAD LTD. The following is a report of the work done for the period ending December 23, 1931; — No. 2 drive (sand drive north of shaft) has been extended 19ft north of the west cross-cut, making a total distance of 61ft. The distance driven was in wash of from 2ft to 2ft 6in in depth, carrying good gold. Driving off the end of this No. 2 drive was produced west for 14ft, where the _ wash dipped and driving was discontinued Eight feet of driving was done north of the west end of the west cross-cut. This drive was also stopped owing 'to the wash dipping. A drive was -started at a lower point to give fall. This drive when produced will prove the direction of the dip of the above belt of wash. Seventy-five feet of ground was taken out east of. the No. 2 drive. The wash opened up in this section is of a different nature from that work in other parts of the mine. It is a solid body and gives the appearance that it is going to be extensive, probably developing in the direction of Jeffrey’s wool shed. 150 oz 14dwt of retorted gold were won for the above period. VICTORIA NYANZA SUGAR. A cable from the Victoria Nyanza Sugar Company’s plantation states that the mill closed down to take advantage of the weather on December 12. Work recommenced on December 28. A total of 1,504 tons of sugar was manufactured. MOTUROA OIL. The secretary of Moturoa Oil Fields Ltd. reports that for the week ended January 11, Moturoa No. 2 well flowed 200 barrels (thirty-five imperial gallons each) of clean oil. Last week’s pumping tests proved unsatisfactory, so 2in tubing with wallpacker attached was set at 250 ft from the bottom of the well. Since this has been adopted, the well has flowed more than 1,000 imperial gallons daily, and is continuing to flow at the same rate. PROPERTY SALE. Messrs James Samson and Co. report that they offered by auction, in the deceased estate of John E. Morrell, five sections situated at the corner of Young and Bird streets and Bay View road, St. Kilda. The property was first offered in one lot, but failed to reach the reserve, and the sections were then offered singly. The section on the corner of Bay View road and Bird street was sold to A. \V. Ashton at a satisfactory price, and _ immediately after the sale the section situated 1 corner Young and Bird streets was sold to A. C. Anderson. Negotiations are pending for the other three sections.

Quotations as under:Buyers. Sellers. £ s. d. £ s. d. BANKINGBank of New Zealand 2 4 0 2 5 0 Bank of New Zealand 1 5 (Long “D”) ... 0 — National Bank of 0 New Zealand — ♦ 0 INSURANCE,6 National Insur. Co. 0 12 — N.Z. Insurance Co. (cum div.) — 2 1 6 Standard Insur. Co. — 2 5 6 SHIPPINGU.S.S. Co. (pref.) ..; 0 19 9 — COAL0 Kaitangata Coal ... — 2 Od Westport Coal Co. t .. 1 2 6 — Westport-Stockton ' (ord.) - 0 1 0 LOAN AND AGENCYGoldsbrough, Mort ... 1 3' 3 “ 0 National Mortgage ... — 2 4 National Mortgage 0 (“ B ” issue) — 1 9 Wright, Stephenson (ord.) — 0 16 0 MEAT PRESERVINGN.Z. Refrigerating (cont.) d 4 7 0 4 U MISCELLANEOUSBritish Tobacco 1 6 3 1 7 3 Colonial Sugar Co. ... — 0 41 0 0 D.I.C. (ord.) 0 12 — D.I.C. (pref.) 0 19 6 — 0 Eclipse Petrol — 0 6 Milburn Lime and Cement 110 0 Mosgiel Woollen 6 15 Co 0 — M'Leod Bros 22 0 0 — National Electric — 0 9 0 N.Z. Drug Co — 2 9 0 N.Z. Paper Mills ... 018 6 1 1 0 Wilson’s (N.Z.) Cement — 1 16 0 BREWERIESN.Z. Breweries Ltd. 1 8 0 1 8 9 N.Z. Breweries Debs. 1 1 0 — Dunedin Brewery ... 0 19 3 1 1 0 MININGWaihi 0 16 2 — Mount Lyell 1 0 3 0 — Kildare 0 1 9 2 2 Okarito 0 10 6 0 10 11 Paddy’s Point — 0 3 6 Golden Progress ... — 2 b 0 King Solomon Golden Point ... ... 0 2 0 0 2 2 0 0 7 0 0 10 Golden Terrace ... ... 0 3 0 0 8 6 Blackwater 0 3 6 — Alexander Mines (cum div.) 0 13 6 — WAR BONDS (Bonds quoted are £100 Bonds)— 1938 4i p.c. Bonds ... 96 0 0 — 1939 4i p.c. Bonds ... 96 0 0 —■ 1941 4i p.c. Bonds ... 96 5 0 — 1938 4i p.c. Inscribed 96 5 0 96 15 0 1939 4jr p.c. Inscribed 1933 p.c'. S.S. Bonds 96 5 0 — — 99 15 0 1936 Si p.c. Bonds ... 99 10 0 — 1937 Si- p,c. Bonds ... 99 15 0 — 1937 5| p.c. Inscribed 99 15 0 _ DIVIDENDS PAYABLE. Stock. Amount. Period. Date. Alexander Mines 1) 1 Jan. 16 N.Z. Insurance 1) 1 interim Commercial Bank (pref.) 4/ interim Feb. 5

RUGBY, January 11. Jan. 7. Jan. 11 Paris, franc to £1 . 851 86J Brussels, belgas to £1 ... . Oslo, kroner to £1 ■24 7-16 — isi lii ■ Stockholm, kroner to £1 ... . 17 13-16 17$ Copenhagen, kroner to £1 181 18* Geneva, franc to £1 ... > ... . 17 7-16 17.35 Berlin, reichmarken to £,1 . 14 5-16 14f Montreal, dollar to £1 . 4.00 4.01 New York, dollar to £1 ... . . 3.39 3.37} 8.42J Amsterdam, florin to ,£'1 ... . • Milan, lire to £1 . . 66*. 66} Prague, kroner to ' £1. ... . . 113 114 Vienna, schilling to £1 ... . . 30 30 Helsingfors, marks to £1 ... . . 235 232} Madrid, peseta to £1 . 40 3-16 40i Athens, drachmae to £1 ... . . 260 260 Lisbon, escudo to £1 ... . Bucharest, lei to £l ... ... _. . 109* , 5 65 109} 570 Rio de Janeiro, pence to milreis 4| si Buenos Aires, pence to pesos . . 40 9-16 Montevideo, pence to dollar . 31} 31-o Shanghai, pence to tael ... . . 23 5-16 231 Yokohama, pence to yen ... . • 25} 25| Hongkong, pence to dollar Bombay, pence to rupee ... . , 17 7-16 . 18 7-64 u