COMMERCIAL

Evening Star, Issue 21098, 10 May 1932, Page 5

COMMERCIAL

THE SNARE MARKET DUNEDIN STOCK EXCHANGE. At. this morning’s meeting of the Dunedin Stock Exchange there were sales reported ia Union Banks at £6 9s 6d, and Paddy’s Point at 3s 9d. There was a rather wider market for Bank of New Zcalands, buyers having reduced their bid to £2 4s 3d, and sellers moving up to £2 5s 3d. Commercials were firm at 13s 9d, with the best buyer offering 13s 4d. B.S. and A. shares had inquiry at £3 17s, without result. Union Banks were again wanted at £6 6s, but the best seller asked £6 11s for them. New Zealand Refrigerating contributing shares wore still offered at 4s 2d, with a buyer offering 3s 9d. Buyers of South Otago Freezing shares were firm at £2, tho seller having eased to £3 10s. * Otago Daily Times ’ shares were inquired for at £1 15s 6d, with sellers asking £2 for them. Wilson’s Cements were in demand at £1 5s 4d cum dividend, without sellers. Mount Lyolls were on the market at 18s 6d without any buyers quoting. Buyers of Okaritos improved to 9s 3d, with no seller under 9s 7d. Sales Reported.—Union Bank, £6 9s 6d; Paddy’s Point, 3s 9d. Quotations as under:—

DIVIDENDS DUE. Stock. Amount. Period. Date. Donaghys’ Rope and Twine Is 3d final May 10 (approx.)

bonus. SYDNEY WOOL SALES. Press Association —By Telegraph—Copyright. SYDNEY, May 9. At the wool sales 10,716 bales were offered. Of the 8,508 hales sold 1,088 changed hands privately. Competition was good for all better-class wool at last week’s levels, but there was some irregularity in short burry lines. Greasy merino made 12R1 per lb. Tho average price for wool at last week’s auction was £8 16s 2d per bale, or 7.1 d per lb. The Woolbrokers’ Association has decided that warehousing charges for wool during the coming season, commencing on July 1, shall be reduced by 10 per cent, in order to render practical assistance to woolgrowers in the present difficult times. MAHAKIPAWA LTD. The secretary of Mahakipawa Goldfields Ltd. advises; The mine manager washed up yesterday ,for 82oz of alluvial gold, the previous wash having been taken on May 3. The No. 9 east cross-cut has been advanced 28ft, and the mine manager reports that the wash is looking well.—Christchurch correspondent. A.M.P. DIRECTORATE. The ballot for tho election of two directors to the board of the Australian Mutual Provident Society resulted in the return of Messrs .1. O. Meeks and F. H. Tout, the retiring direefors. The voting was as follows:—Mr -I. O. Meeks, 75.915; Mr F. 11. Tout. 76.211; Mr 8, Hubert Fairfax, 22,622: .Mr , E. Garvan, 6,811. The vacancy caused by tlio death of Sir Adrian Knox on the day following the ballot was filled by the appointment of Mr J. Hubert Fairfax.

MOTUROA OIL FIELDS. [Per United Press Association.] WELLINGTON, May 9. Moturoa Oil Fields, Ltd. reports as follows for the week ended May 7:— Moturoa No. 2 well produced by self flow 140 barrels, equalling 4,900 imperial gallons of oil. SOUTHERN STARR-BOWKETT SOCIETY, A meeting of members of the Southern Starr-Bowkett Society was held in the office of the secretary (Messrs W. E. C. Reid and Co.) last evening. Mr H. T. Speight presided over a fair attendance of shareholders. The disposal of tho twenty-seventh appropriation of £I,OOO by ballot in group No. 4 resulted in cluster No. 23 being drawn, the ten shares being held by a Dunedin shareholder. WAIHI COMPANY, The following is the latest report issued by the Waihi Gold Mining Company Ltd.; — WAIHI COMPANY’S AREA. No. 11 Level. Empire Lode, North Section.—Kingsford dip was continued to 124 ft, and from this point tho sublevel (38ft below No. 11) commences and has been extended north-east a distance of 17|ft. A crosscut to the south is now in progress at 13ft point. The following are the sampling results reasuring from the south side of the drive:—o-16ft assay value, 14s per ton. mixture of quartz and country; 16-28 ft assay value, 44s 9d per ton, sulphide ore; 28-40 ft assay value, 11s 3d per ton, quartz. The cross-cut is being continued. No. 9 (29ft) Sub-level. Welcome Lode.—Tubman winze is down 46ft, and assay value for first 24ft is 34s lid per ton; the next 22ft assays 20s 8d per ton. Four feet of reef is exposed, with no walls seen. No. 9 Level. Martha Lode, Jamieson Stoping Block.—Work has been stopped at 60ft up owing to the sulphide ore pinching out. GRAND JUNCTION AREA. No. 10 Level.—-Martha lode, south section: The east drive from the end of Brookes stoping block has been advanced to 190£ft. The drive is following a sulphide seam from Ift to 2ft wide, of good value.’ -State lode: Stoping of the east block was stopped at 22ft up owing to the lode becoming poor, Empire north-wall gangway; East of Kirk south cross-cut, this is out a total of 48ft in country. Junction No. 6 Level. North Part of Dominion Lode.—Charlie rise is up 25ft. The assay value at 10ft is 18s 9d per ton, the” width of quartz being about Ift. No. 10 (30ft) Sub-level. Republic Lode. —Tho east drive was continued to 92ft. From 66 to 86ft the average assay value is 25s per ton. Westward a total of 95ft has been driven, and the average assay value from 75ft to 95ft is 25s 9d per ton. The average width of the lode is about 4ft. 103 ft reef: Nelson rise has been put up to 401-ft. At 25ft the rise was continued on the north branch, but this split up and a cross-cut to the. south is now in progress at 33ft up. The average assay value to 2oft is 35s 6d per ton and the width about 4ft. No. 9 Level. Martha Lode, South Section, Jamieson Stoping Block.— Work has been stopped at 60ft up owing to the sulphide seam pinching out. Dye stoping block: Stoping on the west part of the block is stopped owing to the sulphide seam pinching out. . . Junction No. 5 Level. Dominion Lode. —The level has been widened and timbered for a length of 65ft in preparation for stoping. GRAIN AND PRODUCE. Messrs Dalgety and Co. Ltd. report as follows: — Oats.— Samples have been coming to hand freely, chiefly from southern districts. Very few lines of oats A grade in colour are being offered, and tho bulk of the offerings are slightly dull in colour, but of good weight, and millers are purchasing these at up to 3s per bushel, on trucks. Wheat.—Offerings have eased ofl, and the bulk of the Otago milling wheat has now been marketed. Any lines of milling quality are still readily saleable at the' Wheat Marketing Association’s prices, which are: 4s BJd, f.0.b., for Tuscan; 4s 10J-d, f.0.b., for Hunters; 5s oid> f.0.b., for velvet. There is a steady demand for good whole fowl wheat from local merchants at about Tuscan milling rate. Shrivelled lines, of which there is a fair quantity ottering, are difficult to dispose of. Chaff.—Although consignments have been relatively few, the market appears to be well supplied. Good bright chaff is readily saleable at up to £4 15s per ton, ex truck, with £5 obtainable in small quantities ex store. Discoloured chaff is difficult to sell, and in most cases lias to be taken into store. Potatoes. —Deliveries of forward purchases are still being made, and in some cases shipment of these has already been made. So far tho local market has notbeen ovcrsupplied with consignments, and with an improvement in the retail demand sales to merchants ex truck have been readily made at 1M Jss per ton for good tables.

Messrs Donald Reid, and Co. Ltd. report : Oats.—This market has steadied. Merchants are finding it difficult to place the large quantity at present offering, but with threshing nearly completed it will probably he found that there will be a shortage of oats this season. A grade, of which there is only a small percentage offering, are worth 8s on truck. Heavy discoloured lines suitable for milling iiave been bringing the same money, hut this grade is now one penny easier—via., 2s lid. B grade are worth 2s 9d (sacks extra), on truck, country stations; undergrade from 2s 4d to 2s 7d, according to soundness and weight Sacks are extra in all cases. Wheat. —Threshing operations are now almost completed, and probably not for years has there been such a general clean up There will be very little left to be threshed in the spring. The mills have nearly completed stocking up for the season, and millers are not purchasing with the freedom that characterised their actions at the beginning of the season. Prices remain for this mouth at: Tuscan, 4s Bsd; Hunters, 4s lOijd; and pearl velvet, 5s (Ud (sacks extra), f.0.b., main ports. Fowl wheat had hardened slightly, and sales are being made at prices ranging from 4s 3d to 5s ex store, Dunedin. Chaff. —There is very little chaff offering up to date, but it is anticipated that consignments will increase as the winter demand will soon he hero now. Prime oaten sheaf is required, tho value of same being £4 10s, ex truck, or Co, ex store (sacks extra). Medium and inferior arc slow of sale at reduced rales. Potatoes.- • Digging has commeneed in most localities, and a fair quanlity of early sales have been delivered and shipped to northern purchasers. Tho local market is firm for good quality tubers at £4 los, ex truck, or £s,' ex store (sacks in).

P. AND 0. SHARES. Press Association—By Telegraph—Copyright. LONDON, May 9. (Received May 10, at 10.30 a.m.) P. and 0., 14s 3Jd. BRADFORD MARKET. Press Association—By Telegraph—Copyright. LONDON, May 9. (Received May 10, at 10.30 a.in.) At Bradford business is small. Crossbreds are barely steady. AUSTRALIAN STOCKS. Press Association — By Telegraph—Copyright. NEW YORK, May 0. (Received May 10, at 10.30 a.m.) Commonwealth o’s, 1955, £SB 10s; 1957, £SB; 4i’s,' £54 ss; New South Wales o’s, 1957, £49 15s; 1958, £SO. NEW ZEALAND APPLES, Press Association—By Telegraph—Copyright. LONDON, May 9. (Received May 10, at 10.30 a.m.) The Kent’s Now Zealand apples realised: Jonathans. Dunns, and Delicious, 10s 6d to 12s; Cox, 14s to 18s. PRICE OF GOLD. Press Association—By Telegraph—Copyright. LONDON, May 9. (Received May 10, at 10.30 a.m.) Pino gold is quoted at £5 Gs 8d per ounce.

Bnjus. £ s. d. £ «. 4. BANKING— Bank of New Zealand (cum div.) 2 4 3 2 5 3 Commercial Bank 0 13 4 0 13 9 13.S. and A. Bank ... 3 17 0 — National Bank of New Zealand 3 9 0 National Bank of Australasia (cum div.) 10 0 0 Union Bank of Australia Ltd 6 6 0 6 11 0 INSURANCE— National Insurance Co. (cum div.) 0 11 0 0 11 8 South British Insurance Co 2 7 8 Standard Insur. Co.... 1 15 0 1 18 6 SHIPPING— Huddart, Parker (ord.) 1 1 0 U.S.S. Co. (pref.)... — 0 19 9 COALKaitangata Coal 0 IS 6 0 19 6 LOAN AND AGENCY— Dalgety and Co. 7 0 0 N.Z. Loan and Mercantile (ord.) ... ... _ 40 6 9 Wright, Stephenson (pref.) _ 0 15 2 MEAT PRESERVING— N.Z. Refrigerating (cont.) 0 3 9 0 4 2 South Otago Freezing 2 0 0 3 10 0 MISCELLANEOUS— Australian Glass (cum div.) 1 10 0 Crystal Ice Co 1 3 0 1 6 6 D.I.C. (ord.) — 0 12 3 Dominion Rubber ... — 0 5 0 Kaiapoi Woollen (ord.) _ 0 6 3 Milburn Lituo and Cement 1 6 0 M‘Leod Bros 22 0 0 — National Electric — 0 9 0 N.Z. Drug Co 2 6 0 — N.Z. Express (ord.) ... N.Z. Farmers’ Ferliser — 0 15 3 0 12 0 0 12 9 N.Z. Paper Hills (cum div.) 0 18 0 _ ‘ Ot' ;o Daily Times ’ 1 15 6 2 0 0 Wilson’s (N.Z.) Cement (cum div.) 1 5 4 — BREWERIES— N.Z. Breweries Ltd.... 1 4 6 1 5 3 Dunedin Brewery- — 0 19 6 Tooth's Brewery — 1 3 6 MINING— Mount Lycll 0 18 6 Mahakipawa 0 0 31 0 0 4-J Kildare ... — 0 1 10 Okarito ... 0 9 3 0 9 7 Paddy’s Point 0 3 6 0 4 0 Cornish Point (paid) 0 0 2 0 0 4 Golden Progress 0 1 9 0 2 6 King Solomon 0 1 0 0 1 3 Golden Point 0 0 5i — Blackwalcr 0 7 0~ 0 7 9 Gillespie’s Beach par 0 0 3p OIL— Moturoa 0 2 4 WAR BONDS— (Bonds quoted are £100 Bonds.) 1958 4g p.c. Bonds ... — 95 10 0 1939 p.c. Bonds ... — 93 5 0 1938 4i p.c. Ins. ... — 95 10 0 1939 4J p.c, .Ins. ... — 93 5 0 1933 p.c. S.S. Bonds 99 0 0 — 1933 5i p.c. S.S. Ins. 99 0 0 — 1933 34 p.c. Bonds ... 98 10 0 — 1933 54 p.c. Ins. 98 10 0 — 1937 Sz p.c. Bonds (September) 1937 5| p.c. Ins. (February) 99 0 0 98 15 0 1937 51 p.c. Ins. (September) — 98 15 0

Mosgiel Woollen Co. 3s 2 2-5d interim May 12 National Insurance 4d interim May 16 N.Z. Paper Mills 9 3-Sd final May 19 Bank of N.S.W. ... 5s interim May 31 National Bank Aust. (£10 paid) 6s final May National Bank Aust. (£5 paid) 3s final May Dalgety and Co. ... 3s interim May Australian Glass ... 10 4-5d final May Wilson's Cement Is final May Bank of N.Z. ... Is 6 2-5d* final June Bank of N.Z. (Long “D”) 9d final Juno Henry Jones 6d interim June 1