COMMERCE, MINING, AND FINANCE

Evening Star, Issue 21519, 18 September 1933, Page 7

COMMERCE, MINING, AND FINANCE

THE SHARE MARKET DUHEDIK stock exchange The customary quiet Monday conditions prevailed at the Dunedin Stock Exchange this morning. Investment stocks showed no change on last week’ quotations, while there was very alight alteration in the mining section. King Solomons, however, showed a further drop, sellers being prepared to quit at 3s Bd, with no buyers over 3s 3d. SALES. Sale reported South Otago Freezing, £5 (late Saturday).

DIVIDENDS DUE ■Uck. Am’nt. Period. Date. N.Z- Farmers’ , , _ . „ n . Fertiliser ... ... Is finsl Sept. 20 Broken Hill South Ist Sept. 22 N.Z. Drug Is 4 4-5 d interim Sept. 23 North Broken Hill Is Sept. 29 Dunlop Perdriau Rubber , _ . _ n fpref.) Is final Sept. 30 Dunlop Perdriau Rubber _ (ord.) ... ... 9 3-5 d final Sept. 30 King Solomon i 3d second Sept. 30 British Tobacco 3 3-8 d interim Sept. 30 Bank of Australasia 3s 6d* interim Oct. 6 N.Z. Guarantee Corporation 3d final Oct. 26 Electrolytic Zinc , , „ „ (pref.) ... Is 7 l-5d final Not. 2 Waihi Is interim Nov. 1 currency. •L«n British income tax, • 5s in £l. mm PROSPECTUSES A resident of Hamilton who communicated with the Minister of Mines (Mr Macmillan) regarding allegedly erroneous statements made in the prospectuses issued by mining companies, has received tho following reply from the Minister:—“ I regret to state that I am not empowered by law to take any action in connection with the prospectus issued by a mining company, but if you are satisfied that any statements in tho prospectus are contrary to fact, and you have absolute proof thereof, it is open to yourself to consider the question of ventilating the matter in the public Press. Moreover, if the promoters of a company have misrepresented the position in the prospectus the shareholders have their remedy at law.”

FOREIGN EXCHANGES (British Official Wireless.) Press Association—By Telegraph—Copyright. RUGBY, September 16. (Received September 18, at noon.) Paris, franc to £1 80 21-32 New York, dollar to £1 4.69£ Montreal, dollar to £1 4.87 Brussels, belgas to £1 22.611, Geneva, franc to £1 16.31 Amsterdam florin to £1 ... 7.83 Milan, lire to £1 60 1-16 Berlin, reichmarken to £1 13.21 Stockholm, kroner to £1 19.37£ Copenhagen, kroner to £1 22.40" Oslo, kroner to £1 19.90 •Vienna, schilling to £1 29£ Prague, kroner to £1 106| Helsingfors, marks to £1 226), Madrid, peseta to £1 37 1346 Lisbon, escudo to £1 105 Athens, drachmae to £1 570 Bucharest, lei to £1 535 Belgrade, dinars to £1 Warsaw, zlotys to £1 *Rio de Janeiro, pence to milreis 4i Buenos Aires, pence to dollar 44 •Montevideo, pence to dollar ... 361 Bombay, pence to rupee 18" Shanghai, pence to tael 15s Hongkong, pence to dollrr 17^. . Yokohama, pence to yen 14 3,33 Patavia, florin to £1 •Nominal. COTTON, RUBBER, ETC. Press Association—By Telegraph—Copyright LONDON, September 16. Friday’s closing prices are as follows : * Cotton. —Spot, 5.47 d; October shipment, 5.33 d. Rubber.—Para, 4Jd per lb; plantation, smoked, 32 l-32d. Jute. —September-October shipment, £ls. per ton. .Copra.—September-October shipment, South Sea, £9 12s 6d; plantation, Rabaul, £9 15s. Linseed oil, £2l per ton. Turpentine, 47s 9d per cw't. MEAT MARKET Press Association—By Telegraph—Copyright. LONDON. September 16. New Zealand Sheep.—Canterbury and North Island selected cross-bred wethers and maiden ewes: 48-561 b, 4Jd per lb; 65-721 b, 4d. Australian Sheep.—Second quality cross-bred and/or merino wethers: 30-551 b, 4d per lb. New Zealand Lambs.—Canterbury; First quality, 361 b and under, 7Jd per lb. Other South Island brands: 361 b and under, 7Jd. Selected North Island brands, including Downs: 361 b and under, 7Jd. Other North Island brands: Second quality, overage' 321 b, 7d. ' Argentine Lambs. —First quality: 361 b and under, 7d per lb; 37-421 b, 6|d. Second quality: Average about 281 b, 7d. Argentine Chilled Beef.—Ox fores, 160-2201 b, 3|d per lb; ox hinds, 1602201 b, 6d. New Zealand Frozen Beef.—Ox fores, 160-2201 b, 2|d per lb; ox hinds, 1602201 b, 3|d. Australian Frozen Beef.—Ox hinds, 1601 b and under, 3|d per lb; ox hinds, over 1601 b, 3id. 1 New Zealand Pigs.—First quality: 81-1001 b, 53d per lb:101-1201b, s|d. Australian Pigs.—First quality: 601001 b, averaging about 801 b), 6d per ib; 101-1201 b, 5Jd. TOOHEYS LIMITED SLIGHT INCREASE IN PROFIT* A slight increase in net profit is disclosed in the accounts of Toohey’s Limited, brewers, Sydney, for the year ended July 31. Net earnings amounted to £72,660 for the period, against £72,027 in the previous year. The dividend is maintained at 6 per cent., absorbing £72,000. The balance added to £43,095 brought into the accounts makes £43,755 to be carried forward. Against a fall of £19,865 in receipts to £485,045, there has been a decrease of £20,498 in expenditure to £412,385.

THE SEARCH FOR GOLD sunn ktmm Messrs W. A. Mitson and Co., secretaries of the Okarito Five-mile Beach Gold Dredging Company Limited, report that the wash-up for the week ended Saturday, September 16, was 60oz Sdwts for 119 hours dredging. FOUR WEEKLY REPORT. The following report relates to the four weeks from August 13 to September 9; —Total gold won, 2460 z 4dwts; total time worked, 474 h; total nonworking time, 102 h; total yardage treated, 30,700, an average of 65 cubic yards per hour; average value of ground (on basis of gold worth £4 per or.), 8d per cubic yard. I BELL-HOOPER CROMWELL Bell-Hooper Cromwell Gold Ltd., in its report for the week ended September 9, states that the main face drive was advanced 23ft, and some good shows of gold were taken from the wash bottom. The No. 2 cross drive east was advanced 21ft, and fair prospects of gold continue to show on the bottom. The No. 1 cross drive east was advanced 21ft. The bottom at present appears well scoured and comparatively hard, but shows a little gold. The midway drive going north off the No. 2 cross drive west was advanced 47ft, and showed good gold on the bottom for that distance. This drive is running parallel with the main face drive, 50ft apart west. Only development work is in hand, and due to the improved values in the advanced workings 20oz 14dw r t of gold was washed up for the week. BROKEN HILL SOUTH • THE YEAR’S PROFITS [Per United Press Association.] WELLINGTON, September 17. A cablegram received by tho Stock Exchange Association states:—“The net profit of Broken Hill South Limited for the year ended June 30 was £240,673, from which £27,000 has been appropriated for new plant.” IMPERIAL CHEMICALS INTERIM DIVIDEND DECLARED An interim dividend for the six months ended June 30 of 24 per cent, has been declared by Imperial Chemical Industries Limited, London, on ordinary shares, payable on December 1. The dividend for the corresponding period of 1932 was 2j per cent., and that for the corresponding period of 1931 1J per cent.

Quotations as under:— Buyers. Sellers. £ s. d. £ 1. d. BANKING— Bank of Australasia — 13 5 0 Bank of Now Zealand 8 10, — Bank of New Zealand, Long .“D ” 1 13 0 1 14 0 Commercial Bank ... 0 16 8 — National Bank of New Zealand ... ... 4 3 0 — Union Bank of Austra lia Ltd ’ 10 3 0 — INSURANCE— National Insur. Co. ... 0 17 9 0 18 3 N.Z. Insurance Co.... 2 13 6 — South British Insurance Co 3 13 6 — Standard Insur. Co. ... 3 0 0 3 1 0 SHIPPING— P. and 0. Def. Stdok 1 3 0 — U.S.S. Co. (pref.) ... 1 3 6 — COAL— Westport Coal. Co. ... 0 12 11 0 13 6 MEAT PRESERVING— N.Z. Refrigerating (paid) 0 19 0 — N.Z. Refrigerating 0 (oont.) 9 6 0 9 9 Southland Froren Meat (paid) ......... 2 11 9 2 13 0 Southland Frozen Meat (cent.) ... 1 6 3 — Southland Frozen Meat (pref.) ... 2 11 0 MISCELLANEOUS— Broken Hill South ... — 3 11 0 Bruce Woollen Co. (pref.) ■ ... .1. ... 1 1 0 Colonial Sugar Co. ... 58 0 0 — Crystal Ice Co. 1 7 0 — Dominion Fertiliser ... 0 12 6 D.I.C (pref.) Dunlop Perdriau Rubber ... 1 1 0 0 18 0 — Electrolytic Zinc (pref.) ... 1 13 0 — Electrolytic Zinc (def. ord.) ... ... 1 3 3 1 3 9 Kaiapoi Woollen 0 8 (ord.) ... 0 — Kaiapoi Woollen 0 : (pref.) 0 14 — Milburn Lime and . Cement ... 1 10 0 1 10 6 Mosgiel Woollen Co. 8 10 0 — M'Leod Bros 26 0 0 —• Mount Lyell 1 2 0 — N.Z. Drug Co 3 9 0 — N.Z. Malay Rubber (pref.) ... ... ... 0 5 0 — 0 N.Z. Paper Mills ... ‘Otago Daily Times’ 2 4 0 1 8 Regent Theatre — 1 0 0 N.Z. Newspapers 1 7 0 BREWERIES— N.Z. Breweries Ltd. — 1 18 3 OIL— Moturoa (ord.) — 0 3 3 MINING— Kawarau ......... — 0 0 7 Waihi Grand June. ... 0 4 0 Mahakipawa ... ... Kildare 0 2 3 0 0 0 2 3 6 Okarito ... ... ••• — 0 11 4 0 11 7 Paddy’s Point King Solomon Golden Dawn 0 5 3 0 0 9 0 0 .3 2 3 6 O' 0 3 3 8 0 Btackwater — 1* 1 IB 0 Gillespie’s Beach 0 0 u u 3 Waitahu ;••• 0 7 8 0 7 9 Golden Sands ... ... 0 3 3 0 ; 3 8 Big River ... 0 1 7| 0 1 9 Mount David ... — 0 2 8 Nokomai ... — ••• 0 3 0 0 3 2 Fr.eshford ... — 0 U XU Central Shotover — 0 X u Bell-Kilgour 0 1 7 0 1 84 Bell-Hooper 0 o iii 0 1 0i Oxenbridge Shotover — 0 0 10 Aotea Roa ... — 0 X a WAR BONDS— (Bond* quoted awt £100 Bonds.) 1938-1943 34 p.c. Insc. 100 0 0 — 1939-1943 3i p.c. Insc. 101 0 0 — 1940 4 p.c. Bonds ... 100 10 0 — 1940 4 p.c. Ins. ... 100 10 0 — 1946 4 p.c. Bonds 100 10 0 — c 1946 4 p.c. Ins. — 100 10 0 1949 4 p.c. Bonds ... 101 5 0 — 1949 4 p.c. Inscribed 101 5 0 —