Commerce, Mining, & Finance

Evening Star, Issue 21708, 1 May 1934, Page 7

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Reported sales of Government Loans at ; a peak price of £lO4 10s were recorded this morning, while Mahakipawa gold mining shares changed hands at the weakened price of 7id. This company is reported as having made a return ot 560 s for four days work last- week, but this lias not boon announced officially. In 'the banking section. Mew Zealands continued to have strong inquiry, and the ■ market for Commercials also improved. Trustees, Executors, and Agency shares had an improved buyer, but still no seller. Meat preserving shares maintained their attraction for investors, and Refrigeratings also hardened. Associated IVews had a better buyer, but 1 no seller, and British Tobaccos bad a market of 9d. A marked advance was noticeable. in ali rubber company shares. Few changes were recorded in the gold mining section, but Government Loans had .the usual preponderance of buyers. ■ SALES. Reported.—Mahakipawa. Ijd: 1910 Stock, ’ 4 per cent., £lO4 10s; 1946 Stock, 4 per cent., £lO4 10s. Reported After Call.—New Zeaiund refrigerating (cont.), 7s 7jd. Quotations as under

DIVIDENDS DUE. Bank of Adelaide—half-yearly. 4 P-c- P-a ‘ May 2 National Bank Australasia—halfyearly, final, 5 p.c., per annum May - E.S. and A. Bank—int. 21 p.c. ... Mav - Mosgiel Woollen—interim,' 4 p.c., 3s 22-5 d per share May 4 Kaitangata Coal—final. Is 6d ... May 7 National Insurance—lnterim, 4d a share Mav 15 N.Z. Paper Mills—4 p. 0., making 7 p.c. per annum ! Dalgety and Co.—lnterim, 5 p.c. per annum ... May 17 Bank of N.S.W.—quarterly, 5s share (Aust. cur.) ... ‘ Mav 30 Broken Hill South—ls 6d a share. payable m Melbourne lone 15 Bank of N.Z. -final, 5 per ecnl making 10 p.c. for the year .June 15 Waihi Mine—final of Is per'share in sterling Mav 4 Broken Hill .Propty.—half-yearly, Is per share ... May 16 Perpetual Executors and Trustees Association of Australia—interim half-yearly,, at rale of 6 per cent, per annum Mav 16 Talisniau Dubbo Gold Mines Ltd. —third div., 6d share (10 per cent. > ... AUSTRALIAN STOCK EXCHANGES Pi'«m Association—By Telegraph—Copyright. SYDNEY. April 30. In a healthy investment market today price variations wore only of a minor character, and generally favoured the sellers. Later sales were:—Bank of New South Wales, £33 12s 6d; Commercial Bank of Sydney, £18; Bank of Australasia, £l3; Associated News, 24s Oil (pref. 2osi; Burns.. Philp Sooth -Seas, 20s Od; Australian Gas (A), £8 3s Id: Tooths. 15s; Tooheys, 28s 7-Jd; Carlton Brewery, 465; Dunlop Perdriau. 10s 3d (pref. 30s); Goldsbrough, Mon, 34s 3d; Winch combe, Carson, 29s 6d; Henry Jones, 32s 9d: David Jones, 41s: Lustre Hosiery, 24s lid (pref. 26s 9di • General Industries, 11s 9d; Hume Pipe, 14s 3d; Goodyear (pref.), 32s 6d; British Tobacco, 37s 6cl (pref., ex div., 29s 0d);, Mount Morgan, 21s; Broken Hill Proprietary, 47s 9d; Zinc, Corporation, 41s; Kuala Kampar, 15s 3d; Hawaug. 8s 1 Od; Balim Nawar. Ids 9d; Tongkah Harbour, 19s 9d; Bnlolo Gold' £S. -MELBOURNE, April 30. E.B. and A. Bank, 1 £5 9s; National Bank i£o paid). £0 9s Cd; Commercial Bank of Australia, 17s 3d; Electrolytic Zinc, 27s 6d; Goldsbrough. Mort,. 345; ‘ Herald and Times,’ 51s; Mount Lved 245.. ’ N.Z. aOLD MINING INDUSTRY THE WORLD INTERESTED [Pfl. UiCITED PeKSS ASSOCIATION.] . WELLINGTON, April 30. i _ Great interest is being taken in the New Zealand gold mining industry abroad at the present time, and in Paris in particular , this is very' striking. A statement to this effect was made by Mr A. H, Williams, mining engineer, of London, who arrived, at Wellington 4yv’ the Alakura to-day, and wilt spend a month or so in New Zealand. Air Williams hopes' to investigate at first hr. d 1 the gold'.milling industry m this country-. ' He - will see the Prime Minister (Air Forbes) and the Minister of Alines (Air Alacmillan) in this connection. Interest in New Zealand gold is so strong in Paris that it surpassed that in the West African industry, he said, in expressing the view that There was a , future for gold mining in the dominion. CUSTOMS RETURNS INCREASE OVER LAST APRIL The Dunedin Customs returns for the month just ended reveal a substantial increase over the returns for April of last year., A fair increase is also shown in the beer duty. The figures are as follow: April, 1934. April, 1933. Customs ... £54,850 £40,711 , Beer duty ... 22,459 15,401 Sales tax • ... 22,274 22,338 Petrol tax ... 14,076 14,088 •Tyre tax ... S2S 684 | ' . I I AUCKLAND | i An increase of £35,727 is shown in | | the amount of Customs duty collected j ! at Auckland last month, compared with i j April, 1933. the figure being £202.244, i ! as against £166,517. For the four ! j months of the calendar year £860,47] i was collected, an increase, of £159,0791 ! uu' tlie £701,392 collected in the corres-1 . ponding period of last year. ! i - There was. an increase also in the i | combined collection of motor spirit and ! ; Lyre duties, the return fur last mouth I | being £46,110, compared with. 240,944 i lin April, 1933. For the four calendar \ i months the collections under tills head | i totalled £191,130, compared with £169,- i ■ 898.' i ■ The amount of sales tax collected last j I month ■ was £50,018, compared -with j | £56,625 in April last year. The excise j j on beer last month totalled £10,090, as j i against £9,735. j | WELLINGTON | ; Customs revenue collected at the purl j iof Wellington continues to show aj steady improvement, April being the I seventh consecutive month to show an j increase over the figures for the corresponding month of the previous year. The following are last month’s figures, with those for the previous month in parentheses. Customs duty, £182,- 1 126 (£136,913), .r.crease £45,213; petrol j ■duty, £60,757 (£57,246), increase £3,- j 511; tyre tax, £1,520 (£1,670), de-1 crease £156; beer excise, £1.793 (£4,004). increase £789; sales tax, £55,336 (£53,040). increase £2,296. CHRISTCHURCH The revenue collected by the Customs Department in Christchurch during April showed an increase as compared with April. 1933. The figures for the past month are as follow, those for April of last year being given in parentheses;—Customs. £64,621 (£52,343); beer duty, £6,953 (£6,518); tyre duty. £935 (£8611); motor spirit tax. £16.571 (£16,552); sales tax, £22,581 (£25,727).

THE SEARCH FOR GOLD THE MATAKI DREDGE i he Alataki gold return for the week ended April 28 was 38os for 107 hours’ work. TALISMAN DUBBO MINES A dividend of Cd a share, equal to 10 per cent., has been declared by the Talisman Dubbo Gold Alines Ltd'.. This is the third similar dividend declared by the company, the first having, been paid in December, 1933, and the second in March last.—Auckland Press Association. GILLESPIE'S BEACH RETURN The return from the Gillespie's Beach dredge last week, was 740 x ladwt for 167 hours’ work. SKILLING SHARES BRIAN BOBU COAJPANY. A G'reymouth Association message states that the Brian Born Dredging Company,, at an extraordinary -general meeting, resolved to change the shares of, the company from 27,000 at £1 each to 510,000 at 1, each. ' NEW GABRIEL'S GULLY COMPANY The directors of the New Gabriel's Gully' Company visited Lawrence on Saturday to sec the Lightning crusher at work at the claim. The machine is of small capacity compared with what, will have ultimately to he acquired for use by the company, but as it was available in Dunedin for immediate use instead of having to , wait for-three or four months it was‘purchased as an experiment. ft was recommended by the various' engineers consulted as- to the best means of crushing the conglomerate. The matter of feeding the machine with just the right -amount per hour has been satisfactorily adjusted by an arrangement (designed by Mr W. Hogg, of Lawrence) attached tnj the hopper bin. The directors were able to see the tailings sluiced from the claim, delivered to the crusher in a steady stream, and there reduced to the consistency of beach sand and run over the tables. This -machine,-:."which, crushes -.about eight tons per' - hour, is run by a Peltou wheel driven by water power from the company’s pipes. The top mats were lifted and washed, and the ■ indications were lavonruble, but no definite idea as to values can bo formed until a strip of the heap is crushed and the gold weighed and averaged against the number of tons put through. ' ■* The directors, alter consulting the manager, have arranged for the crusher t 6, be used for one week on tailings, one week on the dump, and another week on the virgin conglomerate, after which it can be seen which will bo the best paying proposition and how far values compare with the previous assays and tests, and the policy of the company with . regard to the size of plant can then be determined and machines ordered from England. The directors were well pleased with the effective way the Lightning crusher reduced the stone and conglomerate to a fineness that all the gold must be liberated and passed on to the tables. The expense of running a machine of four or five times the capacity of the present plant will entail little or no further running cost beyond the increase or renewal of wearing parts, and in this way the very low cost' of crushing should show a handsome profit on working, provided the calculations as to values arc sustained. LATEST WAIHI RETURN ,The following information has been cabled to the London office of the Waihi Gold Alining Company Ltd. for ihe period ended April 14, comprising 191 crushing days : Sixteen thousand seven hundred and seventy-three tons of ore were crushed for a result of 4;792 fine ounces of gold and 2,672 fine ounces of silver. This includes 1.638 ..tons mined- from the Grand Junction area, which yielded 49Gos of gold and 3,16-loz of silver. No. 4 level, north branch of Alartha lode, driving west, at 315 ft: The reef split at, 329 ft. We. cross-cut to the north 9ft, with nothing material to report.- We have also cross-cut to the south, and at 3ft in we intersected quarts in the floor of the level,' clipping north 23deg from horizontal. At 9ft in. there is 2-Jft of quarts exposed of good grade, the course, being approximately south-west. Edward lode; Driving south from 224 ft to 257 ft the ore is of good grade about 3ft wide. No. 5 level, north branch of Martha lode: Driving west the next Bft is ore of good grade, and the next 2ft assays 8s 3d a ton. We have widened at 459 ft west, and measuring from the south wall at right angles to the clip the first -lift is quarts of good grade. The next 3ft is country rock, containing a stringer of good grade. The next 3ft is. quarts, assaying 28s a ton. The next 2ft is country rock, and the last sft is quarts, assaying 6s 9d a ton. The north wall is seen in the Alartha lode at 665 ft west. The full width of the lode is 18ft, assaving 2s Od a ton. No. 6 level north-west prospecting cross-cut: We have driven 10ft to the west of a leader at 468 ft: in width it is about Gin. and the assay is 15s 6d a ton. PRICE OF COLD Prism Association—Br Telegraph—Copyright LONDON, April 30. (Received Aia.v .1, at 11.40 am.) Fine gold is quoted at £6 15s Bcl per

POSITION QUITE CLEAR BRITAIN AND NEW ZEALAND'S DAIRY INDUSTRY [Pbb U kited Press Associattok-I CHRISTCHURCH, April 30. That it was not intended at present to follow up the iiujuiry made in Englaiul recently whether, if New Zealand practically free entry of British goods into New Zealand, England would giro Now Zealand produce free entry into Great Britain was the statement made by the Prime Minister (Mr Forbes) to-night. “ We sent a cablegram to the British Government asking it a definite question.'' Mi 1 Forbes said, “and it made an equally definite reply. Both our cablegram and the reply have been published in England and New Zealand, and the people of both countries are fully aware of the position.'’ When asked whether he did not consider that the agitation in England on the question in favour of New Zealand would produce a more favourable reply if the dominion repeated its inquiry, Mr Forbes was non-committal. “ It has been suggested,” he said, “ thar had the inquiry been framed in another way it would have mot with a better reception, but 1 do not think that is likely. The British Government's reply was quite definite.” BANK OF NEW SOUTH WALES QUARTERLY DIVIDEND ’file Bank of New South Wales has declared a quarterly dividend of 5s per share in Australian currency, payable at the head office on May 30 and at branches on receipt of advice.—Wellington Press Association. DOLLAR AND FRANC Pres» Association—By Telegraph—CopyrightLONDON, April 30. (Received A lay 1, at 10.30 a.m.) The dollar is quoted at 5.11-° and the franc at 771r1. LONDON WHEAT MARKET Prein. Association-Bj Telegraph -Copyright. LONDON, April 30, (Received May 1, at 11 a.m.) For wheat cargoes the demand is quiet. Sellers havg raised their limits slightly for Canadians and Australians, but Plates are unchanged. In parcels Manitoba* are slightly dearer, but others are quietly steady. Futures— Loudon: April, 17s Id; June, 17s 7}d ; September, ISs. Liverpool: May, 4s Tijd: July, ‘ls 4Jd; October, 4s Cd ; December, 4s T?d. BRADFORD MARKET Press Association—By Telegraph—Copyright. LONDON, April 30. (Received May 1, at 10.10 a.m.) Bradford is at a standstill pending the London opening. THE APPLE MARKET Press Association—Bj Telegraph—Copyright. LONDON. April 30. (Received May 1, at 11 a.m.) Apples have better inquiry. The Mamari’s and Rangitiki’s New Zealand Dunn’s realised 7s 6d to 10s, Delicious Ss to 10s Cd, Cox’s 7s to 11s 9d, Jonathans 7s 9d to !Js 9d. Tasmanian Cleopatrns Ss to 9s 3d. Jonathans 6s (id to 9s, Scarlets 7s to 8s 6d, Alexandras 7s to 9s Gd. Western Australian and Victorian Jonathans 8s to 9s. NEW GUINEA GDLD SHARES Press Association—By Telegraph—Copyright. LONDON, April 30. (Received May 1, at 11 a.m.) New Guinea Gold shares are quoted at Gs Old. BULOLO SHARES Press Association—By Telegraph—Copyright. LONDON, April 30. (Received May ], at noon.) Bulolo shares aiv quoted at 130 s.

Buyers. Seller 3. ' £ s. d. £ s. d. BANKING— Bank of N.S.W. — 35 10 0 Bank ot N.Z. 2 9 6 — Bank of. New Zealand (Kong. “ D ”) 1 13 0 — ; Commercial Bank 0 16 11 -- E.S. ami'A. Bank .. — 5 X2 0 National Bank of New Zeal ami 5 19 6 4 1 6 National Bank of A us trahisia (cout.) — 6 9 0 INSURANCE— , National. Tnsur. Co. 0 19 6 — N;Z. Insurance Co. .. 2 19 0 — Standard Jnsur. Co 3 0 6 .— SHIPPING— Huddart. Parker - (pref.) ... , .. •• 1 ,5 0 ■ f— P. and 0. Deterred, 'Stock ... ... ■ . 1 2 0 XJ.S.S. Co. (pref.) ... 1 '5 ■ 6 COAL-' ' ‘ Westport Cool ... 0 14 io — AVeetport-Stoekton (drd.) 0 . 1 6 0 * 2 0 LOAN AND AGENCY Goklsbrougb;. Movt .. 1 13 ■ 6 — ..National Mortgage .. ’■' w 3 4 ' 0 National Mortgage (B issue) ■ 1 10 0 ■ — N.Z. Guarantee Corp, ,0 4 0 , Trustees, Executors, and-.Agency .... -3 0 .0’. — Wright, Stephenson (pref.) .;. ... ... 0 18 0 T MEAT■PRESERVES G:J N.Z., Refrigerating (paid) ... . . ■ 0 17 -10 0 18 . 4 N.Z. "Refrigerating" - (cont.) ... ;• . 0 7 7 0 7 ; 8 Southland Frozen Meat (paid)' 3 3 0 .3 6 0 Southland Frozen Meat (cont;) 1 11 6 — Southland Frozen Me, (pref.) ... - . 3 3 0 — South Otago Freezing — 6 2 0 Waitaki Farmers’ Freezing 2 0 0 — MISCELLANEOUS— "'Associated Nows" ..." "V 3 V British ■ Tobacco , ... ' 1 16 9 1 17 6 -‘Broken Hill Proprie- ■ tar.Y ... ...' ., ••• 2 6 0 . Broken Hill South ... 3 15 0 —- Brown. E-.viag (pref.y 1 0 6 . — Colonial Sugar Co. ... 65 15 O' — Crystal Ted Co.' ... .. — 2 0 0 Bi:C, (ord.) 0 140 — ■ D.LC, (pref.) - 12 Oex — ; Dominion Fertiliser ... ", — 0 18 0 Dominion Fertiliser Debentures ... ... 102 10 0 — "Dominion Rubber- ... 0 19 0 — Dunlop Pcvdriau Rubber ... ..... 0 19 0 — Electrolytic • Zinc (dof ord.) .1 6 3 — Kaiapoi Woollen (ord.) - — 0 10 2 Milbnru Lime and Cement 1 11 0 — Mosgiei Woollen Co. — 10 5 0 Mount .Lyell 1 3 9 1 4 4 N.Z. Malay Rubber (ord.) " 0 6 9 — N.Z. Malay Rubber (prof.) ... 0 15 0 — N.Z. Paper Mills ... ' ‘ — 1 11 3 Regent Theatre — X 0 6 Smith and Smith (pref.) T 17 0 — Wilson’s (N.Z.) Cement — 1 8 0 BREWERIES N.Z. Breweries 2 1 9 2 2 3 Staples’ Brewery ••• 1 8 0 — Dunedin Brewery ... 1 -5 0 — ■ Timaru Brewery (10s paid) ... 0 6 6 — GASChristchurch 1 9 0 — OIL— Moturoa (ord.l ’ ... 0 3 8 0 4 3 Moturoa (pref.) — 0 4 0 GOLD MINING— Bell-Hooper 0 0 94 o o ni Bell-Kilgour — 0 11 (V Bendigo Goldiight ... — 0 0 8 Big River —~ n 0 10 Charleston 0 1 9 Gillespie's ... 1.. 0 1 11 0 2 U Golden Point, — .0 0 3 Golden Progress — 0 1 6 Golden Sands 0 3 4 Goldfields Dredging — 0 1 0 Kildare ... 0 1 8 0 2 0 King Solomon 0 4 3 0 4 8 Lawson’s Flat 0 0 4 0 0 64 Macrewbonua ... . ... 0 0 10 — Mahakipawa 0 0 7 0 0 Moonlight-Nelson Creek ’ ... '. — n n ii Nevis Diesel 0 0 5 0 0 6 New Cornish Point (cont.) 0 0 6* • New Cornish Point (paid) ... — 0 1 0 Nokoraai ... 0 1 6 0 1 84 Okarito 0 8 3 0 8 8 Oxcnbridgc 0 0 104 0 0 lit Paddy's Point — 0 2 6 Skippers (9cl paid; .. .0 0 9 0 0 10 AV’aihi — 1 15 4 AVaihi Grand June. . 0 4 6 — AVaitahu 0 4 3 0 4 7 N.Z. GOVERNMENT LOANS(Bonds Quoted are £100 Bonds.) 54 p.e. Slock. 1938-19-15 103 0 0 — Si Stock, 1939103 0 0 Si p.c. Stock, 19411943 103 0 0 — Si p.c. Stock. 19381952 ... 103 10 0 — 31 p.c. Stock, 193019o2 103 10 0 — Si pc. Stock. 19411952 103 10 0 — 4 px. Bonds, Jan 15, 1940 ... 104 0 0 — 4 p.c. Stock, Jan, 15, 1940 104 0 0 — 4 px. Bonds, Feb 15 ■ 1946 ... 104 0 0 — 4 px. Stock, Feb. 15, 1946 ... 104 0 0 — 4 p.c. Bonds, April 15, 1949 102 10 0 — 4 p.e Stock. April IS. ■ 1949 102 10 0 4 p.c. Bonds, -June 15. 1955 104 0 0 4 p.c Stock, June 15, 1955 104 0 0 —