DIVIDENDS DUE

Evening Star, Issue 21624, 20 January 1934, Page 10

DIVIDENDS DUE

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright, SYDNEY, January 19. On the Stock Exchange general investments and mining shares dominated the market, which was very strong and animated. ' , Morning Sales.—Bonds (fours): 1953, £lO6 10s; 1955, £lO6 15s; 1961, £lO7 15s. Commerical Bank of Sydney, £lB 12s; Bank of,New South Wales, £34 12s 6d: Toohey's, 28s 3d; Tooth’s, 455; Colonial Sugar, £65 17s 6d; Dunlop •Pcrdriau, 22s 4Jd; Go'ldsbrough, Mort, 365: Henry Jones, 34s 3d; Howard Smith ,16s 3d. / Afternoon Sales. Bank of New South Wales, .£34 15s; Commercial Bank of Sydney, £lB 12s; National Bank (£5 paid), £6 15s; National Bank (£lO paid), £»3 10s; Union Bank, £lO 2s; Australian Provincial Assurance, 11s sd; Australian Provincial Assurance (New Zealand delivery), 11s sd; Colonial Sugar, £65 17s 6d ; Australian General Insurance, 13s 9d; United Insurance, £9 10s; Howard Smith, 16s IJd; Burns, Philp, 545; Australian Gas (A), £7'l7s 6d; British Tobacco, 37s 6d; Tooth’s, 45s 3d; Toohey’s, 28s 3d; Carlton Brewery, 45s 3d; Australian Glass, 53s 6d; Dunlop Perdriau, 22s 6d ; Goldsbrqugh, Mort, 365; Wilcox, Mofflin, 14sCommonwealth Wool, 21s 9d; John M'Grath, 28s 6d; United Provisions, 10s 9d; United Provisions (pref.), 225; Anthony Horderh, 16s 3d; David Jones, 37s 6d; Lustre Hosiery, 22s 6d; Henry Jones, 34s 3d; Mount Morgan, 735; Mount Lyell, 24s 9d; Bulolo Gold, £7 ss; Bulolo Deposits, 2s Sid; Broken Hill Proprietary, 44s 3d; South Broken Hill. 675. Commonwealth bonds (fours) —1938, £lO4 17s 6d; 1941,'£105 15s; 1944, £lO6 11s 3d ; 1947, £lO6 15s; 1950, £lO7 ss; 19fg. £lO6 7s 6d; 1955, £lO6 15s; 1957, £lO7 15s; 1959, £lO7 15s; 1961; £lO7 12s 6d. MELBOURNE, January 19. Commercial Bank of Australia, 18s 8d; National Bank (£5 paid), £6 16s; National Bank (£lO paid), £l3 12s; Union Bank, £lO ss; Goldsbrough, Mort, 365; Australian Glass, 545; Electrolytic Zinc, 27s 6d; Howard Smith, 16s; ‘Herald and Times,’ 525; North Broken Hill, 88s 9d. THE PROPERTY MARKET AUSTRALIAN INVESTORS INTERESTED In, keeping with the spirit of increased optimism noted m business circles during recent months there have been signs of movement in the property market in Auckland within the past few weeks. January is generally a comparatively dull month for property, but, although there . has been no marked/ increase in sales as yet this year, estate agents in the city report a fair number of inquiries for land and house property, and the outlook is decidedly more hopeful. - “ Difficulties of finance continue to hamper the property market,” a leading land agent said. “ There are, however, definite inquiries for property, and if something could be done to make money, freer there would probably be a period of marked aptivity. A significant point is that we have recently received inquiries for Queen street . property from overseas, .principally from Australia. The men interested'apparently have confidence in the future of the country, and their inquiries, although only tentative at present, indicate more vision and courage ’ than is being shown by New Zealand investors. One overseas syndicate has suggested that it might be prepared to buy city real estate in Auckland with the object of holding it _ for_ about sevfen to ten years in anticipation of a marked and progressive improvement during that time.”—Auckland message. • METAL MARKET Press Association—By Telegraph—Copyright. LONDON, January 18. - The following are the official metal quotations:— Copper.—Standard £32 18s 9d per ton; forward, £33 Is IOJd. Electrolytic.—Spot, £36; forward, £36 10s. Wire bars, £36 10s. Lead.—Spot, £ll 16s 3d; forward, £l2. ■ . Spelter. Spot, £ls 2s 6d; forward, £ls- 7s 6d. Tin.—Spot, £228 3s 9d; forward, £228 3s 9d, Pig Iron.—Home trade, £3 2s Cd; export, £2 17s 6d. , / Antimony.—British, £39 10s;' foreign,. £22. Molybdenite. £2 Is per unit. Wolfram, £1 7s. Silver.—Standard, 19 9-16 d per oa; tine, 21td. DOLLAR AND FRANC Press Association—By Telegraph—Copyright. LONDON, January 19. (Received January 20, at, noon.) The dollar is quoted at 5.00, and the franc at 79 5-8.-

THE SEARCH FOR GOLD ' THE GOLDFIELDS DREDGE The secretary of the Goldfields Dredging Company Ltd. reports that the re.turu for the. fortnight ended January 19 was 220 z '4dwt for 308Iir dredging. KING SOLOMON DEEP LEAD [Pek United Press Association.] INVERCARGILL, January 19. The wash-up at the King Solomon mine for the week was 1206 z lldwt. BELL-KILGOUR RETURN The secretary of the Bdl-Kilgour Gold Mining Company Ltd. reports that .the wash-up for the week ended January 19, from development work, amounted to soz sdwt. BELL-HOOPER REPORT The Bell-Hooper report, is as follows :—The centre stope through block N is now in progress .through block M, and it has to be continued to the boundary for the ventilation of both mines. • A centre preparatory blocking out stope was completed through block H, also through block Y, Also a blocking out stope was commenced in block 0 from the old cross air-way drive. Blocking out work • was in progress in block M and block K. The erection of the ventilation plant at No. 2 tunnel was completed on January 9, and the plant' is working .very satisfactorily. , The contractor started work on the continuation of the No. 2 tunnel on January 3, and up to JanUary 13 had completed a distance of 43ft. i The return for the week was 20 oz 12dwt 6gr. - . BULOLO DREDGING Mr Fred. G. Dunn, attorney for Ciutha Development Ltd. advises of the receipt of the following production report for Bulolo: For the month of December the total gross production for dredges Nos. 1 and 2 amounted to 10,0760 z of bullion, containing 6,6800 z fine gold, from 410,800 cubic yards. The estimated working profit is 5,0160 zof fine gold. The above production is equivalent to £50,100 apd working, profit to £37,620, on the basis, of £7 10s. (Australia) per fine ounce of gold. Four deep test-holes on the upper half of the, original ( Bulolo area show payable gravel to a depth-of 75ft, and the clay stratum at 22ft, to which the original yardage was calculated, now appears to be'a false bottom. The deep drilling, is proceeding, and further equipment has been ordered to expedite this. No. 1 dredge will be closed down for about twelve days in January for equipping it with pontoons. No 3 dredge is now working well, but in order to avoid encroaching on the aerodrome it has been digging outside the dredging area. Its production for December was 4050 z of fine gold from 141,000 cubic yards. This dredge will shortly be turned towards the pay. The four deep test-holes referred to in the December report cross-section, approximately. 500 ft of the upper half of the original Bulolo area and the 53ft of gravel disclosed beneath the originally contemplated bottom at 22ft, averages slightly over 20 gold cents, per yard. MAEREWHENUA GOLDFIELDS Reporting .on the progress of the work on the Maerewhenua Goldsfields Development Comany’s claim at Livingstone, the company’s engineer (Mr W. Morgan Gimson) states that over the holidays a .considerable amount of rain fell, with the 'result that the recentlywidened mosquito race was balled upon to run at capacity for the first time. On certain days over thirty heads were flowing into the .penstock dams, and, at the lowest parts of the race there still, remained 4in of freeboard. On one day the suply Of water was so plentiful that it was necessary to put the 7iu tip on the monitor to assist the sin pipe line (which conveys power to the pulsator plant, but at present is being used for sluicing tailings) to control the water, in the penstock dams. The removal of tailings, both in Golden and Duffer’s Gullies,.; was proceeding apace, and in the latter the schist bottom has ben exposed, permitting the construction of .the main tail race. The prospects at this part showed coarse gold in the dish.. The installation of the pulsator plant in Duffer’s Gully and the extensions of the main pipe lines in both gullies are being proceeded with. The tail-race tunnel has been driven a further 35ft within the last ten days, and it should bo completed towards the end of February. Work upon the - two storage dams continues to progress satisfactorily, and the sluicing of filling at the bottom dam site is keeping pace with the masonry work. On January 6 the supply of water at Bushy was so great that the drainage pipes in the upper dam were unable to cope with the stream, and ultimately the water overflowed the masonry core, which was 30ft high. The fact that no damage was caused spoke well for the quality of the work done. The byepass tunnel at this dam site was nearly complete. At the lower dam the byepass tunnel was running full bore for several hours, and that was of interest as it indicated the manner in which the dam would be filled from time to time when heavy rainfull occurred locally. FRIGE OF GOLD Press Association—By Telegraph—Copyright. LONDON, January 19. (Received January 20, at 11.50 a.m.) Fine gold is quoted at £6 12s lOd per oz ■ America purchased the whole of the £950,000 worth offered, •

FRUIT AND PRODUCE Bray Bros. Ltd. report as follows for week ended yesterday:— A good deal of uncertainty now exists regarding the probable yields and quality of the Canterbury wheat crops. With the dry weather conditions early in the season and later the severe frosts and then heavy rains and hail, the outlook has changed completely. Until threshing commences the actual position will- not be known. It is stated by some authorities that' both the quality and yields of wheat will be considerably below those of last season, in North-Otago the prospects of the crops are brighter, and too much rain has also been experienced there. So far as Otago and Southland are concerned, the dry spring, especially in Central Otago, has affected the growing crops. It is thought, however, apart from Central Otago, the crops in Otago will be up to the average in yield. Locally, little business is being transacted in fowl wheat. An occasional lino is wanted for poultry purposes, and this wheat is being supplied , by the Wheat Purchase Board on a basis of 3s 9d per bushel. For small lots "the ruling value is 4s 3d to .4s 6d, sacks extra, ex' store. ■ _ • The bat market shows little improvement. For prompt delivery there are practically no inquiries. Sales have been reported forward on a basis of 2s 3d, f.o.b.s.i. for B gartons and 2s 6d for A’s, spread delivery to September. There are more buyers than sellers at these figures, merchants in the South Island preferring not to quote, owing to,the uncertainty of the market. It is reported that some Algerians have been threshed in Canterbury, but the market for these has not yet opened up. The demand locally for chaff is still slow, with sales confined to lots ex the store. The shipping market in Canterbury and Blenheim has shown an improvement. This firmness has been reflected in the local market. Owing to most of the stores being blocked out with wool, there is now little chaff in Dunedin. The value for small lots, ex store, is round about £4 5s per ton,' sacks extra. /

. Millers’ prices are as follows:Flour.—2oo’s, £l4 2s; 100’s, £l4 17s; 50’s, £ls 2s ; 25’s, £ls 7s. Bran, £5. Pollard, £6. Oatmeal,—2oo’s, £l62s’s, £lB. Most of the seed markets are quiet, pending the opening of prices for the new season’s crop. New season’s apples are now arriving fr,om Nelson, nud‘small consignments from Central. Otago. There are l still small lots of Stunners and Delicious arriving from Canterbury cool stores, but there is little inquiry for these. A shipment of Raratongan and Tongan bananas came to hand during the week, and a small consignment of Californian oranges and Tollman pineapples arrived by the same vessel, Stone fruit is now in better suply. High prices are being obtained for choice lines of graded peaches and apricots, but the markets for cased were a little easier towards the end of.the week. Prices for this fruit are so far easily 100 per cent, higher than were ruling this time last year. Black plums have been on offer from Canterbury, and are in oversupply with sales slow. There has, however, been a good demand for large dessert plums. Small lots of Florence cherries are still arriving from Central Otago. These are now almost finished and the market, has advanced." ', ' * ' ; ,

, Tomatoes are in'short supply; and the market Ims , advanced daily. A fair demand ruled at the end of the week and prices ranged up to lOd lb. Outsidegrown tomatoes, which usually arrive on the market about this time of the year are very backward, owing to the unseasonable weather. A feature of the tomato market this season has been the irregularity of prices. The same prices have rarely rilled for more than two or three days at a time. Odd lots of strawberries are still reaching the market. Raspberries are in heavy supply, and the market was easy towards the end of the week. The crops in Waimate are heavier than has been the case for several years. The quality so far has been good. Logan berries have a good, inquiry. Gooseberries are slow of sale. ’ Red currants have a good demand, but black currants are offering at low. rates. Choice quality peas are realising satisfactory prices. Lines affected by the weather are unsaleable. French beans are arriving from Canterbury. Broad beans are in over supply, and sales are hard to make. Other vegetables, with the exception of cauliflowers, are in good demand and low prices ruling. The egg market has advanced. Sales of cheese/and. honey at this time of the year are'slow. The following prices were realised during the week: — Apples (Wanted). —Gravenstein, fis 6d to 10s Cd; . Beauty of Bath, 10s 6d to 14s. Apricots.—Choice, 4d to 51d lb; small, 2d to 3d lb. Peaches. —Choice, 3id to 4|d lb; small, 2d to 3d lb. Plums.—lJd to 2fd lb. Cherries.---8d to Is Id lb; small, 4d to 6Jd lb. Strawberries, lOd to Is Id pottle. ■. Gooseberries, Id /to l|d lb. Raspberries.—sJd to Bid pottle; 3s 6d to 6s bucket. Loganberries, to 5s 6d bucket. Red currants, 3id to 4id lb. Black currants, 2d. to. 3d lb. Tomatoes.-—Local, Bid to llid -lb; Christchurch, 6Jd to lid lb. Hothouse grapes, Is 5d to Is 9d lb. American grapes, 26s case. Californian Valencias, 37s 6d case. Californian grapefruit, 37s 6d case. Queensland pines, 20s case. New Zealand lemons, 17s to 24s case. Californian lemons, 52s 6d double case. Bananas.—Ripe. 27s 6d case. Rhubarb, Id lb. Cucumbers, to 7s dozen. Green peas, Id to 2d lb. French beans, 2|d to 4d lb. Runner beans, 3d lb. Broad beans, _ to lid lb. Lettuce.—Choice, to Is dozen. Local Potatoes. —Choice, Id to lid lb; others, to 8s 6d cwt. Cauliflowers, to 6s sack. Cabbages, Is 6d to 2s 6d sack. Onions.—Canterbury. 13s 6d cwt. Honey, 3id to 4d lb. Dairy Butter (Wanted). —To 6d lb. Beeswax, Is lb. Cheese, to Sid lb. Walnuts, 6d to 8d lb. M'Donald and Miller’s Gold Medal bacon, 8d to 9jd; hams, 10id; boneless hams. Is OJd; lard, 6d lb. Eggs, lOd to Is dozen. COMPANY REGISTERED The ‘ Mercantile Gazette ’ notifies the registration of the following company ; Sections Ltd. Registered as'a private company, December 30, 1933. Capital: £3OO, into 300 shares of £1 each. Subscribers: Dunedin—M. Birkner, E J. Smith, M. V. Lousley 100 shares each. Objects. To purchase for investment or resale and to traffic in land, house, and . other property, and to,'sell and deal in freehold and -leaser hold:ground rents.

Australian Provincial Assurance : li p.c. per annum Jan. 30 British Tobacco (Aust.) —Interim; pref.. quarterly, 6i p.c. per Jan. 31 annum (less property tax) Union fiank —Interim at thA rate • of 4 p.c. per annum, free of ■ • Englisli income tax, equal £2 31 . ; 9s 7d per cent ... Jan. Commercial Bank of Australia — Interim; preference at rate of 4 p.c. per annum; ordinary at rate of 5 p.c. per annum in Australian currency Feb. 2 N.Z. Insurance —Is a share — Electrolytic Zinc (pref.)—3 p.c. Mar. per annum Wellington Trust, Loan, and Investment Co.—Final, 3 per cent., making 5£ per cent, per Feb. annum ... 2 N.Z. Refrigerating Co.—4 p.c. and Feb. ; bonus 1 p.c Wellington Gas —Annual, 8 per 6 Feb. cent, per annum 6 Auckland Gas (£1 paid)—Final Feb. 6 Queensland National Bank —Interim. at the rate of 4 per cent, per annum, free of State Feb. 14 and Federal income tax National Mortgage—5 p.c. per an--Feb. 29 mum v- • *• 1