Commerce, Mining, & Finance

Evening Star, Issue 21582, 30 November 1933, Page 7

Commerce, Mining, & Finance

THE SHARE MARKET ; DUNEDIN STOCK EXCHANGE Though ■ a larger volume of business was reported this morning the market generally was dull. The only shares in which a keen interest was maintained were those in the meat preserving, loan and agency, and gold raining sections. Very little alteration was recorded in the quotations for banking shares, while in the shipping section Union Steam Ship prefs. contmed to improve. There were a lot of unsupplied buyers of miscellaneous stocks, while, following a salc of New Zealand Breweries at 37s 4jd, these shares wore for sale at 37s 9d, with no buyers. Waihis showed another rise this morning, and a seller appeared at 27s 3d. The only othar noticeable change in gold mining stocks was the recovery of VVaitahus from buyers at 5s yesterday to buyers at 5s 9d. Sellers were prepared to quit at 6s. Government loans were again in strong demand, with only one seller on the market. Sale, on ’Change.—New Zealand Refrigerating (cent.), 9s lOd. Reported,—Union Bank, £9 15s (late yesterday) ; New Zealand Loan hnd Mercantile (ord.), £6l 5s (late yesterday); New Zealand Breweries, £1 17s 4Jd (late yesterday); 4 p.c. Stock, 1955, £lO2. Reported after call. —Bell-Kilgour, Is 2d.

WOOLWORTHS (N.Z.) LIMITED The Wellington Stock Exchange advised the Dunedin Exchange this morning that the ordinary shares of Messrs Woohvorths (N.Z.) Ltd. were listed on j November *2B. ; The particulars of this company are: Authorised capital, £150,000, divided; into 100,000 ordinary shares of £1 each,! and 50,000 9 per cent, cumulative pre- 1 ference shares of £1 each; subscribed! capital. £148,000. being 98,000 ordinary) full-paid shares of £1 each, and 50,000 9 per cent, cumulative preference shares of £1 each. The preference shares were listed at Wellington on May 21, 1901.

THE SEARCH FDR GOLD ADDISON'S FLAT RETURN The Addison’s Flat Mining Company recovered gold valued at £230 last week, says a Press Association message. BELL-KILGOUR REPORT The ' secretary of the Bell-Kilgour Gold Mining Company Ltd. reoorts that development work" in the mine is being pushed on as rapidly as possible. The main drive is now driven 490 ft, leaving about 270 ft to go to the northern boundary. The wash rose, and for some distance the drive was under the wash. Jt has now started to dip again, and is showing in the face of the drive. The wash treated during the week ended November 24 produced 16oz 19dwt 2gr. GOLCONDA MINES LTD. The mine manager of the Golconda Mines Ltd. reports as' follows :—During the week the following work has been carried out:—Sloping was continued on the branch reef south. The ore broken out shows colours of gold. Close to the shaft wo are stoping the main reef, which showed nice colours of gold. At this point we have formed an intermediate level to work the hanging'wall reef, and we are driving on this reef cast and west. The reef is a well-de-fined body of ore, and values should be met witli at any time. It was necessary to form this intermediate level as the reefs are diverging from one another and could not be taken out witli one stope. In the next stone it appears as if the brand) reef and the main reef will pass through _ each other. It is hard to explain this position on paper, as .there is an aggregation of quartz and it is difficult to distinguish one formation from the other. At the 70ft level wc have resumed driving on the No. 2 branch reef south. There is a decided improvement in the country, it being much milder, and the reef appears to be opening out. ’Hie course of this reef is towards the old Cambria shaft. COLOMBO TEA SALES Mr L. M. Wright'has received the following cabled report of the Colombo tea auction of November 28:— The market for common teas advanced 1 cent, while medium and lino teas were 2 to 3 cents clearer at close of sale. One million five hundred and ten thousand pounds were auctioned. Next week’s catalogue will be for 1,850,0001 b. MAHAKIPAWA RETURN Advice has been received from the mine manager that the wash-up for the week produced 14oz alluvial gold. NEW GUINEA GOLDFIELDS A progress report for October, issued by the Mining Trust Ltd., consulting engineers for New Guinea Goldfields Ltd., states that at location 3, west drive on No. 3 level was advanced 601't in oxidised ore, assaying 35.2dwt gold and 18.30 z silver over a width of 20in. East drive on No. 3 level crosscut at 184 ft cut a faulted portion of the vein, which assayed 18dwt gold and Ooz silver over 42in. Estimated profit for September from alluvial work was £6,539, Production for October was 1,9710 z bullion, the low production being clue to three weeks’ drought. Esti-1 mated mill profit for September was £9,566. The output for October was 1,2940 z fine gold. The reduced output was clue to a lower grade of ore being treated. WAIORONGOMAI The Mining House (N.Z.) Ltd. has underwritten the share issue of the Waiorongomai Gold Mines Ltd, The company has a nominal capital of £IO,OO0 4 and proposes to take over the Cadman and Bonanza Special Quartz class of 72 acres in area at Waiorongomai and develop them. Dir Morgan Gimson, consulting engineer, lias reported favourably on the prospects, and it is intended to recondition the tenstamper mil) and install an addition,!) oil flotation plant with a view to commencing the crushing of ore as early as possible. GOLCONDA Golconda Mines reports stoping continued on branch reef south and colours of gold seen in tiie ore. Driving continued on hanging wall reef east and west. In the west end a few colours of gold seen. In this end reef is getting bigger with an underlie of about ] in l._ In the cast end the reef is 20in wide and nearly vertical. The country rock is now getting much milder and quartz stringers are coming in between it and the main, reef. Not much work has been clone on the No. 2 branch south 70ft level. In the last holes fired in this face nice colours of very coarse gold were seen in a small leader. DIVIDENDS DUE Australian Glass—interim, pref. 4i p.c., ord. 4 p.c Dec. 1 Imperial Chemical Industries Ltd. (London), interim, 2J| px. ... Dec. 1 Henry Jones Co-op, -9d share ... Dec. 1 N.Z. Breweries—interim, 8 2-5 d Dec. 6 Bank N.Z. -interim, 10 p.c.. It share Dec. 9 Bank N.Z., Long “ D "—interim, 7j p.c., 9d share Dec. 9 North Broken Hill—dividend Is, bonus 6d Dec. 12 Bulolo—interim, 60 cents Canadian (about 3s Id New Zealand currency) a share, subject to Canadian tax of i 5 p.c, Dec, 15 Broken Hill South—ls per share Dec. 15 Blaokwatcr Mines—interim, Is share, tax free, pay. British currency ... Dec. 15 Consolidated Goldfields—6d a share tax free, pay. British currency Dee. 15 Mount Lyell—2J p.c.. 6rl a share, 1 year ... ... ... Dec. 18 Mount Morgan—interim, first, 2s per share Dec. 27 Kauri Timber—2 p.c, on 25 s shares, 6d a share Dec. Zinc, Corpn.—Prof., fixed 2s a share and participating 6d a share; ord.. fid, Doth in slg.,, less English income lax at 3> 4]d in lire pound Jan. 1

HIGH EXCHANGE SATISFACTORY

GOVERNMENT CONGRATULATED (Pf.s United Press Association.] MASTER-TON. November 29. The problem of adjusting the return to primary producing industries so that it approximated more closely to the total of fixed and operating costs was referred to by Air T. Currie Brunswick, chairman of directors*of the New Zealand Farmers’ Co-operative Company Lid., at the annual meeting to-day. The mortgagors’ relief legislation, lie said, and other measures iiad all helped. The raising of the exchange rate had been of tremendous benefit, and no doubt the dominion to-day wax getting out of the slough of depression. “ We congratulate the Government ” he said, “ on the stand which it has taken on flic exchange rate question, in the face of the opposition of self-interested parties it lias persevered in its resolve to uphold the revenue of the dominion.” BULOLO SHARES Press Association--By Telegraph -Copyright LONDON. November 29. (Received November 30, at 11 a.m.) Bulolo shares are quoted at 89s 9d.

DAIRY PRODUCE Messrs Dalgety and Co. Ltd. have received the tallowing cable from London dated November 28:—The butter market is demoralised. Quotations: Finest butter offered, 70s, 71s per cwt. The New Zealand Loan and Mercantile Agency Company Ltd. has received the following cabled advice from its London house, dated the 29th inst,; — Butter, 735; market steadier. Cheese: White 495, small supplies available; coloured 475; market slow. The National Mortgage and Agency Co. Ltd. have received the following cable from London :—Butter: Market very weak; New Zealand finest, 725, 7.‘ls; New Zealand first grade, 71s, 725. Cheese: Market steady; New Zealand white, IBs; New Zealand coloured, 475. AUSTRALIAN STUCK EXCHANGES Pre«g Association—By Telegraph— Copyright SYDNEY, November 29. On the Stock Exchange the general investments were somewhat irregular, although the market was more active than earlier in the week.' A firmer tone was noticeable for Goldsborough. Moils. Colonial Sugars, and Commonwealth Bonds, while among the banks 1 lie Commercial Bank of Sydney was most in demand. The following salts were made:— Bank oi New South Wales (ex div.). £32: Commercial Bank of Sydney. £l7 8s; National Bank (£5 paid, cum div.), £6 12s; Bank of New Zealand, 48s; Burns, Philp, 51s; Colonial Sugar (New Zealand delivery), £6l 17s 6cl; Australian Provincial Assurance. 12s; Commonwealth Wool, 19s; Anthony Hordern, Ids sd; Lustre Hosiery, 17s 3d; Automatic Totes, 20s; David Jones, 365; Wilcox, Mofflin, 11s 3d; Goldsbrough, Mort. 31s 9cl; British Tobacco, 37s 4J-d; Tooth’s (ex div., New Zealand delivery). 41s 6cl; Toohey’s, 23s 6cl; Carlton Brewery, 435: Associated News (prof.), 20s 4Jcl; Dunlop Perdriau, 19s 3d (pref., 34s 9d) ; Mount Lyell, 22s 3d ; Kuala Kam par, 12s Id (New Zealand delivery, 12s Id) ; Broken Hill Proprietary, 39s 6d. MELBOURNE, November 29. Commercial Bank of Australia, 17s Id; Anthony Hordern. 13s 3d; Electrolytic Zinc, 26s 6d ; ‘ Herald and Weekly Times,’ 47s 9d; North Broken Hill, 87 s. PRICE OF GOLD Press Association—By Telegraph—Copyright. LONDON, November 29. (Received November 30, ni 11 a.m.) Gold is quoted at £6 5s Gd per oz.

Quotations as under Buyers. Sellers. £ s. d. £ s. d. BANKINGBank of New South Wales — 33 5 Oe Bank of New Zealand 2 7 6 — Bank of New Zealand (Long “ D ”) 1 12 0 — Commercial Bank ... — 0 16 11 E.S. and A. Bank ... . 5 13 0c National Bank of New Zealand — 4 5 0 Union Bank of Australia Ltd 9 14 0 9 18 6 INSURANCE— National Insurance Co. — 0 19 3 Standard Insur. Co. 3 0 6 — SHIPPINGHuddart, Parker (pref.) 1 4 0 _ P. and 0. Deferred Stock 1 0 0 — U.S.S. Co. (pref.) ... 1 4 6 — COALEaitangata Coal — 1 2 6 Westport Coal Co. ... 0 13 6 — LOAN AND AGENCY'National Mortgage ... 3 0 0 — National Mortgage B ” issue) 1 10 0 — N.Z. Loan and Mercantile (ord.) — 62 0 0 N.Z. Guarantee Corporation 0 3 2 — Wright, Stephenson (ord.) — 1 0 0 Wright, Stephenson (pref.) ... 0 16 0 MEAT PRESERVING— N.Z. Refrigerating (paid) 0 19 9 1 0 4 N.Z. Refrigerating (cent.) 0 9 9 0 9 11 Southland Frozen Meat (paid) 3 0 6 3 2 3 Southland Frozen Meat (fcont.l 1 11 0 — South Otago Freezing 5 3 0 MISCELLANEOUS— British Tobacco 1 16 9 * 1 17 9 Brown, Ewing (pref.) — 1 0 6 Bruce 'Woollen Co. "(drd.> ... — 0 10 6 Bruce Woollen' Co. 0 (pref.) — 0 19 Crystal Ice Co. 1 10 6 — D.I.C. (ord.) ... ... 0 14 6 — D.I.C. (pref.) 1 2 3 — Dominion Fertiliser ... 0 16 6 — Dominion Fertiliser Debentures 101 0 0 — Dominion Rubber ... 0 16 6 — Milburn Lime and Cement 1 10 6 — M‘Leod Bros. ... ... 27 0 0 — Mount Lvell — 1 2 6 National Electric ... — 0 6 4 N.Z. Drug Co. 3 12 6 — N.Z. Farmers’ Fertiliser ... 0 16 6 — N.Z. Newspapers ... 1 7 9 — N.Z. Paper Mills ... 1 7 9 — ‘ Otago Daily Times ’ 2 6 0 — Smitfi and Smith (pref.) Wilson’s (N.Z.) 0 18 6 1 0 0 . Cement — 1 6 6 BREWERIESN.Z. Breweries ... __ 1 17 9 Timaru Brewery — 0 6 0 OIL— Moturoa (ord.) — 0 3 3 MININGWaihi 1 6 9 1 7 3 Waihi Grand Junetion 0 4 1 — Kildare — 0 2 0 Okarito 0 10 2 Paddv’s Point. 0 4 2 v New Cornish Point ... 0 0 111. 0 1 2 ' Golden Progress — 0 1 6 King Solomon 0 3 0 0 3 2 Golden Point 0 0 2 . ■ Gillespie’s Beach — 0 2 0 Waitahu 0 5 9 0 6 0 Big River 0 1 0 0 1 1 Mount David — 0 2 0 Nokomai 0 2 11 0 3 2 Freshford — 0 0 3 Lawson’s Flat 0 0 3 — Central Shotover 0 0 9 0 1 1 Beil-Kilgour o m 0 1 3 Bell-Hooper 0 0 9i 0 0 Hi Oxenbridge — 0 0 9Bendigo Goldlight ... — 0 0 6 Nevis Diesel 0 0 10 0 0 HJi N.Z. GOVERNMENT LOANS 31 p.c. Stock. 19381943 100 5 0 — 3i p.c. Stock, 19391943 100 5 0 — 31 p.c. Stock, 19411943 100 5 0 31 p.c. Stock, 19381952 100 10 0 101 0 0 3i p.c. Stock, 19411952 100 10 0 4 p.c. Bonds, Jan. 15 1940 101 15 0 4 p.c. Stock, Jan. 15, 1940 101 15 0 4 p.c. Bonds, Feb, 15, 1946 101 10 0 4 p.c. Stock, Feb. 15 1946 101 10 0 4 p.c. Bonds, April 15, 1949 100 15 0 4 p.c. Bonds, June 15. 1955 101 15 0 4 p.c. Stock, June 15 1955 101 15 0 ■