Commerce, Mining, & Finance

Evening Star, Issue 21620, 16 January 1934, Page 5

Commerce, Mining, & Finance

- THE SHARE MARKET

DUNEDIN STOCK EXCHANGE Banking shares had a fair amount ! of business reported at the call this morning, l and N.S.W. showed a further improvement ;ot Ss in th,e buying quotation, it_ being anticipated that this financial institution is returning a. higher dividend than usual tor the past .twelve months’ operations. Goldsbrougb, Morts were for sale at i s 6d. but buyers were not interested, while £lO 8s was offered for Dalgetys, without enticing sellers.' . Mpegiel Woollens were fraetionally ; firmer, as also . were ■ • Mount tyells. Paper Mills- were ; oa offer at 3Us, but 27s Od. was'the best buyer.-, , New tZealand. Breweries were firm, and Tooths had a margin of 2s between,buyers and' sellers, i , ' . In the gold mining section Okantos were wanted at 9s, 'without response. While Waitahus- were firmer, with' buyers at 6s 6d and/nd sellers under 7s. ' The shares generally, were inclined to weaken. ■ ' ' ' The strong' demand- for all issues 'of Government Loans 'was continued, without any seller being producßd. ' ’ SALES. v - Ob ’Change:—Gillespie’s Beach, Is Ud. Reported.—Bank of N.S.W., £34-10 s: Bank'of N.Z., £2 10s; B.S. and. A. Bank, £5 12s 6d; National Bank of N.Z., £4 3s j .Waihi, £1 10s. ■ ■ Reported After Call.—King/ Solomon, 3s [7d. ' ' , ' Quotations u under:— • Buyers. Sellers. £ s. d. £ ». d.

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright. SYDNEY, January 15. The Stock Exchange had an active market, especially for industrial and mining shares, and prices were generally steady, with a tendency to improve. Commonwealth Bonds were neglected. The following were the sales:—Bank of New South Wales, £34 7s 6d; Commercial Bank of Sydney, £lB Is; Queensland National Bank, £5 15s; E.S. and A. Bank, £5 11s; Colonial Sugar, £65 2s 6d; Mercantile Mutual Insurance, 20s 6d; Huddart,. Parker, 33s 3d; Australian Gas A, £7 17s 6d; Tooths, 455; Tooheys, 28s 9d; Carlton Brewery, 44s 9d; Australian Glass, 62s 6d; Dunlop Perdriau, 2s; Winchcombe, Carson, 33s 6d; Wilcox, Mofflin, 13s 10d; Millaquin Sugar, 31s; Farmers, ■2os 4id; David Jones, 37s 6d; Lustre Hosiery, 21s 6d; Standard Cement, 18s; Commonwealth Wool, 225; Hume Pipe, 14s; Auto Totes, 18s 6d; General Industries, 12s 4d (pref., 19s -3d),; British Tobacco, 37s 3d; Anthony Hordern, 16s 7Jd; Mount. Morgan, 635; Mount Lvell, 23s 10id; Broken Hill Proprietary, 445; South Broken Hill, 655; Bulolo Gold, £6 16s; Kuala Kampar, 15s 3d.

MELBOURNE, January 15. National Bank (£5 paid), £6 11s 6d Commercial Bank* of Australia, 18s 8d Mount Lyell, 245; Taranaki Oil, Is 6d.

FARMERS' AFFAIRS WAIRARAPA VIEWS [Fn Uwrao P*m» Association.] MASTERTON, January 15. Rather diverse views were expressed by members of the Wairarapa Farmers’ Union to-day - when they discussed the amalgamation of counties. Some members doubted whether amalgamation would lead to economy. Others favoured it, and one suggestion was that a wider investigation into all branches of/ local body administration was needed., Finally the union passed a motion urging the Government to expedite the appointment of .the commission to inquire into; county amalgamation, and recommending that evidence should be :, taken in the provincial districts separately. • The union decided to place its organisation at th 6 service .of settlers desirous of forming rabbit boards. _ After a discussion, in the course of which members from' various parts of Wairarapa stated that- rabbits were much more numerous than fpr many years past, and that the great recent multiplication was attributed, to the dry seasons favouring uninterrupted breeding, it was declared to be imperative that drastic action should be taken, during the coming autumn to destroy as many rabbits as possible. After a lengthy but inconclusive discussion the union decided to ask dominion headquarters ,if, it could ; suggest some scheme for the relief of dairy farmers, many of whom are in serious straits. The Wairarapa district is still parched, with a consequent falling off in milk supplies among the dairying herds. Although a few showers have been experienced there has been little benefit to the pastures. :On Sunday afternoon a severe storm of restricted distribution was experienced in parts, of the east coast, 90 points of rain falling in half ■an' hour. Near Whareama the rain was accompanied by a heavy hail storm.

NEW GUINEA GOLD.SHARES Press -Association—By Telegraph—Copy right LONDON, January 15. (Received January 16, at 1 p.m.) New Guinea Gold shares are quoted at 6s 7id. COPPER OUTLOOK

IMPROVED CONSUMPTION EXPECTED Though the Mount Lyell Mining and Railway Company Ltd., the only,producing copper mine of note in Australia, incurred a , loss on mining operations last year, the directors intimated at the annual meeting in December that the company was justified in regarding its mining undertakings as showing some promising features,. Mr.A. C. Beatty, chairman of the Rhodesian Selection Trust Ltd., a large producer of copper, said, at the annual meeting of the company in Loudon recently, that the present price of cop per did not yield an adequate return on the capital invested, but as trade improved, copper prices. should uu doubtedly move to higher levels. Large stocks still existed in the United States, but. there had been a gradual reduction in those during the last eight months, because consumption of copper had shown a steady increase dining the last fourteen months,, and stocks were not more than sufficient to meet the present requirements ot the trade. There was a widespread and growing interest in the utilisation of copper. With the expansion that was going on in the electrical industry, together with the increasing use of the metal in the building trades and in other industries, the future of copper consumption was distinctly good.

THE SEARCH FOR GOLD GOLDEN POINT REPORT The Min© Manager of the Golden Point ,}ind Scheelite Company Ltd. advises/that a contract has been let tor the completion of the home reef rise and that he is arranging a contract for driving an extension of No. 4 crosscut, 150 ft. This extension is being made for the purpose of rising to the home reef overlying the low level to the northreast, at which point this reef had not previously been intercepted. A further extension of 150 ft in the same direction will be driven when the work now being undertaken is completed. GILLESPIE'S BEACH DREDGING The Secretary of the Gillespie’s Beach Gold Dredging Company Ltd. reports that a letter received from the dredgemaster, dafed January 8, advises that he has commenced dredging, and he expects to work the full three shifts in a few days. Up to the present it has been impossible to keep correct di edging time as a good many alterations have been made, with the result that although the dredge may have been runnirig, very little material was tested. The paddock is. opening out well, and he will now be .able to swing the dredge round, but at present there is very little room at the . stern. A wash-up can be expected about January 20.

MAHAKIPAWA RETURN The Mahakipawa Goldfields Ltd.’s return for the week was J7oz of alluvial gold. , MATAKI DREDGING The Mataki Gold Dredging Company Ltd., Murchison, reports that tho dredge was started at midnight on January *2, but encountered a largo log in the face at 11.30 a.m., -which threw the buckets off the ladder and under the pontoons. This made it necessary to uncouple the bucket line, and .the job was not completed until 4 o’clock on Friday morning. On the same day the log whs successfully removed. It measured 30ft long and 2ft '6in in diameter. During the Christmas holidays a number of essential repairs, including the overhaul, of tho winch and pump, were completed, and the dredge is now in perfect order. The return for the week was 16oss.

DIVIDENDS DUE

r A.P.A.—Ii p.c., lid a share one year « an * Commercial Bank —5 p.c., 6d a share, half-year Feb. 2 Commercial Bank (pref.)—4 'p.c., 4s a share,_ .half-year Feb. 2 N.Z. Refrigerating (paid)f—s p.c., ■ Is a share, .one year Feb. 3 N.Z. Eefrigerating (cent.) —5 p.c., 6d a share, one year Feb. 3 The Treasury advises that the Registers of New Zealand Government "4 per cent. Stock maturing on February 15, 1946, will be closed from February 1 to 15 inclusive, for the purpose of the issue of the half-yearly interest Sll9 fig ike latter date.

BANKING— Bank of N.S.W. ... 34 10 0 — Bank of ’. N.Z.. . 2 9 6 — Commercial Bank. ... u 18 0 ■ — B.S. and A. Bank ... \ 5 11 6,; National Bank of New Zealand 4 2 0 — Union Bank of Australia Ltd. ... — 10; 0 0 T INSURANCE— National . Insur. Cte.... 0 18 9 — ‘ N.’Z. Insur.. Co. . ... 2 17 0 2 18 0 Standard .Insur. Co. 2 19 0 • — SHIPPINGHuddart. Parker 0 (ord;) v -*• . 1 I 2 — Huddart, Parker (pref.' • ... : 1 4 0 P. and 0. Def. Stock 1 i 0 — U.S.S. Co. (pref.), ... 1 4 9 COAL- '' ■ Westport Coal Co. ... 0 14 0 0 14 9 LOAN AND AGENCYDalgety and Co. ... 10 8 0 — 6 Goldsbrdugh, Mort. ... National Mortgage (“ B ” Issue) ... 1 1 IV 11 0/ — Wright, Stephenson (ord.) f 0 13 6 MEAT PRESERVING— N.Z. Refrigerating 9 . (paid) 0 19 1 '0 0 N.Z. Refrigerating (cont.) ... 0 9 6 0 9 9 Southland Frozen Meat 0 (paid) , 3 0 — South Otago Freezing 5 9 0 • —■ ~ MISCELLANEOUS— Broken Hill Proprie1 ' tary ... 2 o Brown, Ewing (ord.) 0 17 0 6 — Colonial Sugar Co. ... 62 0 0 — Crystal Ice Co. ... 1 12 0 D.I.C.. (pref.) 1 2 6 Dominion .Fertiliser ... — 0 17 6 Dominion Fertiliser Debentures 102 0 0 •r— Dunedin-Kaikorai . Trams I 0 — Dunedin Stock-Exchange Proprietary ... ’ —•• i' 5 J Electrolytic Zinc 6 (pref.) 1 —■ Electrolytic Zinc (def. ord.) • ■ 1 6 6 vl 7 3 Kaiapoi Woollen (ord.) ••• 0 9 0i — . Milburn 1 Lime, and ;,. , ' Cement ■ —• -1 11 6 Moscriel Woollen Co. 9 0 0 M'Leod Bros. 27 0 0 — Mount Lyell 1 4 0 1 4 b ■ N.Zi" Drug Co. ... 3 14 o. ■"N.Z. Farmers Fer6 tiliaer 8 0 19 - N.Z) ••• 1 0 rr N.Z. Paper Mills. ... 1 7. 9. X iu, ■ * Otago Daily Times * 2 ■ 6. 0. r*r : Smith ’ and Smith - : (pref.) ■: •••: u iy BREWERIES—. N.Z. Breweries 2 0 6 2 1 0 Timaru Brewery — 0 6 3 Tooth’s Brewery ... 2 4 0 GASChristchurch ... ... 1 8 0 — PILMoturoa (ord.) ... — 0 4 0 Moturoa. (pref.)" ... ■-r 0 4 9 'MININGWaihi — 1 9 6 1 10 6 Mahakipawa ... ... 0 ' O’ 1’ Okarito ... . ... ••• 0 Paddy’s- Point* ... ... 9 0 . —. — 0 4 6 . New Cornish Point —- 0 0 7 Golden Progress- ... — 6 2 0 1 6 King Solomon 0 Golden Point 0 6 0 .0 0 — Gillespie’s Beach. ... 0 Waitahu ... ••• '••• 0 1 10* 6 6 1 Hi 7 O' Mount, David ... ... — 0 i 0 Nokomai ... — 0 6 0 • Central Shotover ... . 0 1 1 Bell-Kilgour . ... ... — 0 1 U£ Bell-Hooper — n '0 0 11 Oxenbridge 0 0 , 0 0 9i ' Bendigo Goldlight ... — ii 0 0 D’j . Nevis Diesel ... 0 1 0 1 6 Charlston — 0 2 0 Maerewhenua 0 0 10 — H.Z. GOVRRNMENT LOANS- .• (Roads Quoted are £100 Bonds.) 31 p.e. Stoek. 103819l3' ... - 101 0 0 —• 3| Stock, 10380 0 — 34 p.e. Stock, 1941X043 ... 101 0 0 34 p.e. Stock, 1938/*19§2 101 0 0 — St p.e. Stock, 1939- t 1952 ) 101 0 0 ' ■ — 34 p.e. Stock, 19411952 101 0 0 — ( p.e. Bonds, Jan. . IS, 1940 101 10 0 — 4 p.e. Stock, Jan. 15, 1940" ... ... ...' ...10110 0 i — 4 p.e. Bonds, Feb, 16/ . 1946 ... 102 0 0 — 4 d.c. Stock, Feb. 15, 1946 ... ... 102 0 0 — 4 p.e. Bonds, April 15, 1949 101 0 0 — 4 p.e. Stock, April 15, 1949 ....... ... ... 101 0 0 4 p,c. Bonds. June 15, 1955 100 10 0 — 1955 ... 100 10 0