Commerce, Mining, & Finance

Evening Star, Issue 21724, 19 May 1934, Page 12

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANGE There -was no apparent sign o£ the market for all the better-class industrial and financial stocks casing this morning. Sellers predominated in the banking section, but the quotations, in all cases, remained firm at recent rates. Insurance stocks met with strong inquiry, but no shares were on offer. In the miscellaneous section Broken Hill Proprictarys showed a margin of Is 6d between the quotes. Buyers of Mosgiel Woollens advanced their offer to £lO, and New Zealand Drugs have also improved inquiry. Few changes were noticeable in the gold mining section. Golden Points _ have hardened, but Nokomais were inclined to weaken, as did Waitabus. Government loans were again in strong demand, but sellers refused to bo tempted by increased offers. SALES. Reported.—New- Zealand Refrigerating ’(paid), 18s 3d; New Zealand Paper Mills, £1 10s 9d (late yesterday); New Zealand Breweries, £2 & 3d; Moonlight-Nelson Creek, Bd, Quotations as under: —

DIVIDENDS DUB. - N.Z. Paper Mills—4 p.c., making 7 p.c. per annum May 21 Donaghy’s Rope—Final, Is 3d share May 21 Wright, Stephenson—Final, 3 p.c. on ord. shares May 23 Bank of N.S.VV.—Quarterly, 5s ... May 30 National Bank Australasia —halfyearly, final, 5 p.c. per annum May 30 Farmers*' Trading—Final, pref., 7 p.c. per annum (less 20 p.c.) ... May 31 Henry Jones—lnterim, 6d a share June 1 Dominion Fertiliser—Final, 7 l-5d \ share, 3 p.c June 2 Wilson’s Cement—Final, 6d per share June 6 Broken Hill South—ls 6d a share, payable in Melbourne June IS Bank of N.Z.—final, 5 per cent., making 10 p.c. for the year ... June 15 DAIRY PRODUCE The South Island Dairy Association has the following cable advice;—Butter : Market firm; 77s to 78s; Danish, 87s, 88s. Cheese: Steady; white, 44s 6d to 455; coloured, 44s to 44s 6d. PRICE OF GOLD Prvees Association—By Telegraph—Copyright. LONDON, May 18. (Received May 19, at 10 a.m.) Fine gold is quoted at £6 16s 2d per ounce. DOLLAR AND FRANC Press Association—By Telegraph—Copyright LONDON. May 18. (Received May 19, at 10.30 a.m.) The dollar is quoted at 5.11 J and the franc at 77 3-16. BRITISH TRADE WITH RUSSIA The Moscow Narodny Bank Review reports that, according to the figures supplied by Soviet trading organisations in Great Britain, orders placed and purchases made in that country in February, 1934, amounted to £902,863, as compared with £673,401 during the same period of last year. The increase was thus by mord than 34 per cent. The following is a list of the principal goods purchased in February, 1934:—Machinery and equipment, £64,075; steel and ferrous alloys, £84,120; non-ferrous metals, £296,572; rubber, £189,365; textiles, £17,166; tea, £175,834; miscellaneous, £75,731; total, £902,863. All commodities with the single exception of non-ferrous metals, showed a considerable rise this year. The number of British vessels chartered in February by the AngloSoviet Shipping Company Ltd. was nineteen, of 147,630 tons, and the sum paid in freights was £103,583. The total number of vessels chartered by the company was twenty-nine, of 218,000 tons, and the freight paid was £145,509. This compares with a total of sixteen vessels chartered by the company in February, 1933, of which only four were British. The total tonnage chartered in February, 1933, was 146,980, and the sum paid £81,363. The British share of tonnage in February last year was 33,200 tons, and the amount received was £24,182. BALDWIN'S LIMITED While trading conditions improved during 1933, it was only during the latter months of the year that there was any marked improvement, state the directors of Baldwins Ltd., the British iren, coal, and steel concern, in their report foi; 1933. The increase in the company’s trading profits from £190,599 to £356,457 has already been announced, as also the payment of interest on the 6 per cent, income debenture stocks. It would now appear, however, that in the most recent part of the period covered by the accounts the company’s earnings had attained a considerably higher level than might have been gathered from a comparison of the full year’s profits with those of 1932.

THE WORLD’S GOLD NATIONAL RESERVES National gold reserves of the world, as reported in the annual bullion letter of Samuel Montague and Co., London, amounted at the end of 1933 to £2,461,488,461, an increase of £18,662,986 over the total for 1932. The following table shows how the principal holdings of gold compare with figures for 1916: 1916. 1933. £ £ U.S.A. ... 452,500,000 •824.662,000 France ... 203,037,000 620,707,000 British Empire 164,945,000 285,642,461 Spain 49,154,000 89.649,000 Russia ... 146,684,000 Soviet Russia Switzerland... 12,821,000 79,222,000 Belgium ... 10,400,000 78,100,000 Italy 43,036,000 76,700,000 Holland ... 49,210,000 76,148,000 Argentina ... 51,600,000 48,977,000 Japan... ... 23,300,300 43,534,000 * Treasury £90,434,000. Federal Reserve banks, £734,228,000. Compared with 1932, the British Empire increased its stocks by £79,910,986, the United States showed a decrease of £7,538,000. France had a decline of £47,649,000. Switzerland went down by £18,744,000, and Holland by £9,146,000, while Russia improved to the extent of £6,912,000 and Italy by £13,543,000. Of the total for the British Empire, £190,725,833 is held by the Bank of England against notes, £13,007,000 by the Commonwealth Bank of Australia against notes, and the balance by the rest of the dominions. The United States and France hold between them £1,445,369,000 of the total of £2,461,488,461. These huge accumulations have not relieved those countries from the_ throes of financial stress. Writing in the ‘Bankers’ Magazine,’ Mr Benjamin White says that it is amazing to reflect that, though the British pound sterling consists of only 20s, as against 30s now commanded by the contents of a gold sovereign owing to the rise in the sterling value of that_ metal, the weekly budget of the British housewife has not increased to anything like that extent. On the other hand, her thrifty sister ■in France—where the visible stock of gold is the second largest in the world has to pay much higher prices for her goods. DAIRY PRODUCE The National Mortgage and Agency Company have received the following cable from London:—Butter: Market firm. New Zealand finest, 765, 775; New Zealand firsts, 755, 765; New Zealand unsalted,, 775, 78s; Danish, 'B4s, 86s; Danish, f.0.b., 655, 665; Australian, 755. Cheese: Market steady. New Zealand white, 455; New Zealand coloured, 445, 44s 6d; Canadian white, 545, 565; Canadian coloured, 525, 545.

THE SEARCH FOR GOLD KING SOLOMON RETURN The return from the King Solomon mine this week amounted to 720 z 3dwt. BELL-KILGOUR WASH-UP The secretary of the Bell-Kilgour Gold Mining Company Ltd. advises that the wash-up for five days’ work amounted to Boz sdwt. GOLDFIELDS DREDGE The secretary of the Goldfields Dredging Company Ltd: reports for the month ended May 18 as follows: The dredge grounded on April 10, and a temporary drag line was erected and put into operation. This, together with a rise in the river, permitted the dredge to bo floated off on April 23. There was no damage to the pontoons. The dredge is now working its way up the gorge. The power line poles have been extended up the gorge to the Big Beach. All other -work necessary to facilitate the dredge’s progress up the gorge has been done. A 10inch gravel pump has been placed on the dredge with a view to accelerating progress up the gorge. This will work in conjunction with the dredge in lifting the gravel and by passing it behind the dredge. ' GOLDEN POINT REPORT The mine manager of the Golden Point Gold and Scheelite Company Ltd. reported under date May 12 as follows: —Crosscut No. 4 was advanced 10ft, from 405 ft to 415 ft, in country. This makes a total advance of 160 ft, and the crosscut has been stopped to enable a rise to be put up at 150 ft. Rise at 150 ft was commenced and advanced to a height of Oft above the back of the level in country. The mine manager has been engaged essaying samples various points in the dip reef with satisfactory results. Ten samples taken along one drive gave an average value of 9dwt 7gr over an average width of 47in. Six samples from another part showed an average of 16dwt Bgr over an average width of 28in, and four samples taken from the northern end of the reef gave values of Bdwt 22gr over an average width of 60in. The rise at the end of the No. 4 crosscut is being pushed up as fast as possible to intercept the home reef at this point. NEVIS DIESEL DREDGING

The secretary of the Nevis Diesel Electric Dredging Company Ltd. reports as follows: In January we started to bore the claim ahead of the dredge, but, unfortunately, the casing was _ broken while the first bore was being put down, and it was left uncompleted. This prevented the putting _ down of further bores until new casings were procured. The proposal that was made by Investigations Ltd., that an option should be granted under the terms of which that firm would bore the claim, delayed the placing of an order for fresh casing until the shareholders had had an opportunity of 'deciding what was to be done in regard to the option. Inquiries were made immediately after the meeting of shareholders, and an order placed with an Australian firm. Greatly to the disappointment of _ the directors, the manufacturer failed to complete the order, causing further delay. A fresh order was placed, and the new casing arrived in Dunedin about May 8. Dredging was commenced on March 12, and the dredge has been running steadily ever since, no trouble being experienced. The estimates of expenditure in the prospectus were exceeded, with the result that the financial position became straitened, and to relievo the situation the directors guaranteed the bank account of £2,000. On May 11 the directors met and discussed the, whole policy of the company in collaboration with the dredge-master. The result of the discussion was that the dredge master was instructed to bench the dredge to-day and commence boring. The winter in the Nevis Valley is probably, more rigorous than in any other part of New Zealand, and it will b© necessary to dispense with the dredge during the winter months. It is impossible to say how long boring will be continued, but this work will be carried on as long as the weather conditions permit. In view of the financial position, the directors decided to issue debentures to the extent of £5,000.

CROMWELL MINING NEWS [From Our Correspondent.] During the .past few weeks tlio rainfall in Central Otago district has been phenomenal, and high rivers have resulted, with a consequent diminution of prospecting and mining operations in the vicinity of the river. Activities at the New Cornish Point mines have been somewhat impeded as a result of water in the mine, but it has now been decided to continue the incline shaft to a point where pumps may be safely installed and a sump prepared before commencing a cross drive to the south to traverse the gutter. Very heavy rain must have fallen in the watershed of the Shotover-, and the report comes from Lower Shotover that the receiver from an air compressor plant on Skippers’ claim is lying embedded in the silt at Tucker Beach, whither it has been washed down by flood waters a distance of at least ten miles. As an indication of the turbulent nature of this river when in flood it may be stated that the piece of machinery concerned would probably weigh at least one ton. Interest has been revived in the Cromwell Flat by the reported striking of payable wash by Mr Ritchie Bell at a depth of 140 ft. General indignation at the attitude of the Minister of Mines in regard to tno Flat is freely expressed by claimholders. /it is now surmised that the Minister lias decided to offer no encouragement to mining on the Flat, and an attempt evidently is to be made to freeze the claimhokler out. All the claimholders were compelled, prior to the Minister consenting to their licenses, first to sign an agreement undertaking to pay to the Government 5 per cent, of all gold won. Jt was understood by the claimholders that in return for this payment they would receive a plan of the geophysical survey of their claims. Only one or two, however, have so far been successful in getting a plan, and when application is made to the Mines Department the applicant is referred to the Department of Scientific and Industrial Research, which department in turn informs the clainiholder that the preparation of the

plans cost money, and politely asks for payment, generally £IOO, before the plan is supplied. Representations on the matter have been made by the secretary of the local Mining Association, Mr Stewart Wright, to the Rt. Hon. G. W. Forbes the Hons. Masters, Bitchener, and A. Hamilton on the occasion of the respective visits to Cromwell of these Ministers, and, despite the usual ministerial promise “ to look into the matter and consult colleagues.” nothing more has. been heard. . . , On the occasion of the visit or tne Hon A. Hamilton, the local member, Mr W. A. Bodkin, M.P., said, inter alia “ that Mr A. H. Kimbell, as Under-Secretary of the Mines Department, had made a definite promise, which had not been carried out. The difficulty was that the Mines Department had no jurisdiction over the Department of Scientific and Industrial Research. ...” ' . Your correspondent to-day heard or one syndicate which is ready to go ahead with prospecting work once the geophysical plan is made available, and another party awaits further information, though' it has already done considerable work in determining a new lead, for the finding of which the Prune Minister, in a statement made at Invercargill on January 24 last, gives credit to the geophysical survey. There seem to be reasonable grounds for accepting the miners’ contention that the Minister of Mines is adopting an attitude of complete indifference, and the claimholders enjoy again the experience of a glorious uncertainty as to the future of Cromwell Flat. _ The Dunedin party operating m Kawarau Gorge, where driving operations have been conducted for close on a vear, are reported to have struck highly nayable wash in what is definitely a former river level. The gold was struck in a higher level than that on which the party was driving, and a distance of 60ft has now been driven in wash which has given an even value all the way of £2 per yard. The rumour that the party was on gold was responsible for the usual rush for options over adjoining areas, and it is understood tliat Messrs Ritchie and Renshaw have given an option over their claim, while the Ounce Limited, in the light of the recent discovery, is putting down an incline drive, hoping to penetrate the lead at a much higher level than that on which it was driving in the rock tunnel. The opinion is held by many that this is the same run of gold as was struck lower down on the other side of the river at Gee’s Flat, and the class of gold Struck is very similar to that obtained in the claim of Frye and Qiddens on Cromwell Flat, where the gold is rougher and less water worn than that in other areas on the Flat. , „ Speculation as to what the Cromwell Flat holds is naturally rife, but the matter is generally discussed with expressions of abuse for the Mines Department. Mr Frank Jones, of the Nevis, was in Cromwell recently, and is reported to have said that his company will wash up a record return for the - claim. Mr G. Mellor, field superintendent of the New Zealand Mining Investments Ltd., Christchurch, arrived in Cromwell to make arrangements for the boring of the Clutha on behalf of a British Mining Company. One boring plant has arrived in Cromwell, and it is understood that the company will very shortly have three plants in operation on the ground. _ Considerable interest is being shown in the promotion of the Bendigo Rise and Shine Company, and the Bendigo field is looked on with great favour by the older residents of the community.

GOLDEN SANDS RETURN [Pis United Press Association.] GREYMOUTH, May 19. The Golden Sands return was 350 z Idwt for thirty-three shifts of eight hours each. WAIHI MINING COMPANY The Waihi Gold Mining Company Ltd. has sent the following report, dated April 11, to London: — Tho principal work carried out underground during the four-weekly period ended March 17, was as follows : —Waihi Area.— No. 14 Level.—-The roof of Martha Lode level was heightened from Gin rise to 120 ft east, and the level timbered in readiness for stoping. No. 13 Level. —Empire Irle east of No. 4 shaft deviation west cross-cut; Driving was continued to 224 i ft, where a' connection was effected, to No. 4 shaft, porth cross-cut. The average assay value over tho distance driven during the period (45J-ft) was 8s 9d per ton. Martha lode, south section oast of No. 4 shaft, north cross-cut; Driving was continued from the 117 ft point and advanced to 173 ft. Assay value during the period was low. Driving will be continued eastward on or near the north wall. Martha lode, east of Cow rise: The level was further widened from 15tt east of Cow rise to G4ft east, the average width taken being 12ft. Assay value during tho period ranged from 20s lOd to 22s 6d per ton. No. 11 (70ft) Sub-level.—Edward lode: Driving north from Snapper winze was continued to 118 ft, where work was stopped. Average assay value from 87ft to 101 ft is 32s lOd per ton, and from this point to the face 4s 2d per ton. The -width of tho pay ore is about 4ft. No. 11 Level.—Empire lode, Paul stoping block: Widening the level was continued from 56ft to 97ft east of Paul rise; the level was also heightened to 92ft and timbered to 70ft. Martha lode: Tanner winze has been sunk 40.U't. It is intended to test the lode gt‘this depth by cross-cutting.

No. 6 Level.—Espir west cross-cut. prospecting for the north branch of Martha lode: The cross-cut was advanced 89ft during the period, making a total of 469 ft. At 468 ft there is a leader 3iu wide, course 58deg (true), with a dip slightly north-west. The assay value is 12s 9d per ton. The cross-cut is being continued. No. 5 Level.—North branch of Martha lode, west of Roycroft crosscut: The drive was advanced 47ft during the period, making a total of 483Jft. The grade of ore was good to 480 ft, with the width varying from 2ft to sft. As oxidised country was seen on the north side at 474 f t; it was decided to cross-cut, and this was com-, menced at the 470 ft. mark and driven north, exposing a total width of 18ft of oxidised quartz. After careful sampling on both sides of the cross-cut and reducing three abnormally high assays, the resultant average is £lO per ton. The drive was widened to 10fft on the north side of this brown country from 472 ft to 480 ft, where driving west was resumed. The assay value at 483 ft over 6ft of hard quartz, with country seen on the south side, is 14s Id per ion. Martha lode, west of No. 2 shaft, new north-west cross-cut: The north cross-cut from the 440 ft mark connecteu at 144Jft to the cross-cut driven south from the north branch of Martha lode, the west drive has now been advanced to 580)ft. At 543 ft the total width of the lode is 23ft; average assay value 6s 6d per ton. No. 4 Level. —North branch of Martha lode: The east face from Gordon cross-cut was advanced to 236 ft. Driving has been stopped in this direction, as the vein has practically cut out. ‘Driving westward on the line of the reef was continued to 265 ft. Edward lode, south of the 89ft south cross-cut: A total of 86ft was driven during the period, a total of 194 ft _ south. The average width of the lode is 2Jft of good grade. —Junction Area.— Junction No. 9 (40ft) Sub-level.— Empire lode: Widening of the level to 9ft was continued to 66ft east of No. 7 pass. Further widening was done from 90ft to 102 ft east of No. 6 pass, and to 26ft west, the average width taken being 9ft. Stoping timbers are being placed in position. . ' Junction No. 9. Level.—Empire lode, No. 10 (pass block: The level was widened to 13ft from No.. 10 pass to 7/ft west. Waihi Company’s No. 12 Level. — Royal lode: No. 1 rise has been put up 50ft. , Waihi Company’s No. 10 Level.— Ulster reef: The block has been timbered for its full length, and stopmg operations commenced. Junction No. 6 Level.—Martha lode, Berry block; The timbering of this block has been completed, and stoping operations will be shortly commenced. George lode, Gibbons block: Shrinkage stoping was commenced, and the breaking of ore carried to 18ft up.

LONDON MEAT MARKET The Bank of New Zealand has received the following advice from its London office under dale May 18: Frozen meat: There is a better demand for wethers. For ewes the demand is steady, with a better outlook. The lamb market is firm; present demand is good and likely to continue. Wethers —Light 4Jd to s£d per lb, heavy 3|d to 4|d; ewes, 2fd to 4d; lambs—twos 7Jd to 7 Id, eights 6 5-8 d to 6jd, fours 6jd to 6Jd, seconds 7d to 7Jd. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, May 18. 'J'he Stock Exchange market recovered from the hesitancy of the past week, but prices underwent only minor changes. Later sales were:—Bank of New South Wales, £32; Commercial Bank of Sydney, £l7; E.S. and A. Bank, £5 9s: National Bank (£5 paid), £6 10s; Bank of Adelaide, £5 14s 6d; Colonial Sugar, £65 10s; Australian Provincial Assurance, 10s Gd; Howard Smith, 14s 9d; Burns, Philp South Seas, 255; British Tobacco, 37s 7Jd; Tooths, 45s 6d; Goldsbrough, Mort, 32s 6d; Morris, Hedstrom, 16s lOJd; Henry Jones, 32s 6d; Anthony Hordern (pref.), 25s 6d; Lustre Hosiery, 235; Standard Cement, 17s; Mount Morgan, 235; Broken Hill Proprietary, 46s 3d; North Broken Hill, 93s 6d; Bulolo Gold, £7 10s; Kuala Kampar, 17s; Rawang. 9s 2d; Larut, 15s 6d; Commonwealth Bonds (fours), 1938, £lO7 6s 3d; 1941, £lO6 7s Gd; 1944, £lO7 10s; 1947, £lO9 2s 6d; 1953, £IOB 15s; 1955, £IOB 17s 6d; ,1957, £lO7 7s Gd; 1961, £IOB 10s. MELBOURNE, May 18. Tooths, 45s 3d; British Tobacco, 37s 6d; Commercial Bank of Australia, 17s 3d; Goldsbrough, Mort, 32s 6d; Mount Lyell, 21s; Taranaki Oil, Is Bd'. LIFE OF THE RAND HIGH PRICE OF GOLD Striking figures were given by Mr P. M. Anderson, retiring president of the Chamber of Mines, Johannesburg, at the annual meeting. He said _ that, while dividends to shareholders in the Rand gold mines increased last year by 50 per cent., the Government’s share from taxation and leased mines increased 240 per cent.' The increase in working profit represented 106 per cent, while working, capital and other provisions out of working profits increased by 62 per cent. Working costs increased only 2d a ton. While tonnage increased by 5.6 per cent., ounces produced fell by 4.7 per cent, and tho yield a ton «by 9.9 per cent. Mr Ani derson said that the lowered grade

mado it probable that the life prospect of the Band within the limits of existing mines had been doubled compaied with conditions only fifteen months ago. These results had been achieved owing to the vastly increased price of gold unaccompanied by any substantial rise in the level of working costs. i CANTERBURY MARKETS [Per United Press Associatiok.l CHRISTCHURCH, May 18. The potato market shows a further easing, and to-day’s quotations _ aie from £3 10s to £3 12s 6d, f.0.b., s.i. The quotations to farmers are £2 iUs and £2 12s 6d. The continued lack ot inquiries from Auckland is the main cause of the dull market, and it is apparent that more potatoes were available there than was estimated some weeks ago. Southern consignments have been going forward in sufficient quantity to provide for immediate re quirements, and although digging has been interrupted, there has been men y of potatoes ready for shipment if required. A few farmers have just about completed digging, but to-days wintry weather will hold up operations until late next week. The Wingatui is due to sail to-day from Lyttelton estimated cargo of from d£X t° 3 ,500 sacks. Farmers aro_ not offering undei the low scale of prices. n . Fowl wheat is unchanged. Quotations are 3s 3d, f.0.b., s.e. The onion market is the woist lor years. Round about 22s fad a ton, on trucks, is all that is being offered Oats arc meeting very hHle attention. Values are 2s fad, f.0.b., s.i., at Lyttelton, for A Cartons, and 2s 3d fO, TI ? e small seeds market is lifeless, but all classes are firm at recent quotations.

METAL MARKET Prew Association— By Telegraph-Copyright LONDON, May 17. The following are the official metal quotations: — Copper.—Standard, £32 17s fad per ton: forward, £33 7s fad. Electrolytic.—Spot, £36; forward, £36 6s. Wire bars, £36 ss. ' Lead.—Spot, £lO 18s 9d; forward, £ll 5s Spelter.—Spot, £l4 13s 9d; forward, £l4 18s 9d. ' , Tin.—Spot, £234 17s fad; forward, £231 7s fad. Pig Iron.—Home trade, £3 7s fad j] export, £3 2s fad. . Antimony.—British, £42 10s; foreign, £27 15s. •' „ Silver.—Standard, 19 11-16 d per oz{] fine, 21fd. Molybdenite, £1 16s per unit. Wolfram, £2 Is 3d. RAILWAY FREIGHTS A CONCESSION WITHDRAWN [Pn United I’um Ahocution.J WELLINGTON, May 18. In February, 1933, it was decided by the Government, in view of the low prices then ruling for primary pro* ducts, to reduce temporarily by 15 pep cent, the classified rates for the conveyance of certain classes of thesa goods by rail, the loss of revenue tq the Railway Department to be borne by the Consolidated Fund out of tha vote “ agriculture.” In April last, hav* ing regard to the better price then pb* taming for wool, sheep, and lambskins,and hides, this special. concession was withdrawn in so far as these products were concerned. The position has been further reviewed by_ the Government, which has now decided to withdraw forthwith the concession in respect of frozen mutton, frozen lamb, and tallow.

Buyers. Sellers. £ s. th £ s. d. BANKING— Bank of Australasia, — 12 5 0 Bank of N.S.W. ... — 33 5 0 Bank of N.Z ■— 2 12 Q Commercial Bank 0 16 9 0 17 1 B.S. and A. Bank ... — 5 9 0 National Bank of New Zealand 4 0 0 4 4 0 Union Bank of Aus10 tralia Ltd. ..i ... — 3 0 INSURANCE— . National Insur. Co. 1 0 0 — N.Z. Insurance Co. ... 3 0 6 — South British Insur6' ance Co. 3 18 — Standard Insur. Co. 3 2 3 — SHIPPING— Huddart, , Parker (pref.) 1 5 0 — TI.S.S. Co. (pref.) ... 1 5 9 — COAL— Kaitangata Coal. ... 1 0 0 1 1 0 Westport Coal, Co. ... 0 16 6 — W estport-Stockton (ordij■ ! 0 2 0 LOAN AND AGENCY— Goldsbrough. Mort ... — 1 13 0 National Mortgage ... 0 — 3 4 0 N.Z. Guarantee Corp. 40 Wright, Stephenson 18 (ord.) 0 6 — Wright, Stephenson 0 (pref.) ... ... ... 1 0 MEAT PRESERVING— N.Z. Refrigerating 8 8 (cont.) 0 5 0 6 Southland Frozen Meat (paid) 3 5 6 3 6 6 Southland Frozen Meat 0 (cont.) -. , ... Southland Frozen Meat — 1 14 6 (pref.) 3 5 6 3 6 MISCELLANEOUS— Associated News r 1 5 6 Broken Hill Proprietary .... 2 5 6 2 7 0 Brown, Ewing (pref.) Bruco Woollen Co, 1 0 6 — (ord.) 1 0 6 — /Crystal Ice Co. .». ... 1 15 0 2 0 0 D.I.C. _ (pref:) ... ... 1 2 0 — Dominion Fertiliser 0 17 9 — Dominion Fertiliser Debentures ... ... 102 0 0 — 6 Dominion Rubber — 1 5 Dunedin-Kaikorai Trams ... 1 14 0 — Dunedin Stock Ex8 Proprietary — 2 0 Electrolytic Zinc (def. _ ord.) 1 6 3 1 7 0 Kaiapoi Woollen (ord.) ... 0 9 5 0 10 0 ■ Kaiapoi Woollen (pref.) . 0 17 9 0 19 0 Milburn Lime and Cement 1 11 6 — Mosgicl Woollen Co. 10 0 0 —. National Electric 0 5 0 — N.Z. Drug Co. 3 16 0 — N.Z. Malay Rubber 0 (ord.) 0 6 — N.Z. Malay Rubber 0 0 (pref.) 1 — N.Z. Paper Mills ... 1 10 3 1 11 0 * Otago Daily Times ’ 2 6, 0 0 6 Regent Theatre 0 18 6 1 Smith and Smith (pref.) Wilson’s (N.Z.) 0 17 0 — Cement' 1 7 6 BREWERIES— N.Z. Breweries ... . t . 2 2 0 2 2 3 Dunedin Brewery ... 1 5 0 — Timaru Brewery (10s 8 paid) ... 0 0 — GASChristchurch ... ... 1 9 6 — Q1L— Taranaki Oil 0 1 3 0 — Moturoa (ord.) ... — 4 3 GOLD MINING— Aotearoa ... — 0 0 8 Bell-Hooper — 0 0 9 Bcll-Kilgour 0 0 31,0 0 4 Bendigo Goldlight ... 0 0 6 0 0 7iBlackwater 1 12 0 — Gillespie’s 0 1 9 0 2 0 Golden Point ' ... ... — 0 0 5 Golden Progress — 0 1 6 Kildare 0 1 10 0 2 2 King Solomon ..; ... 0 3 11 0 4 2 Lawson’s Flat ... i ... 0 0 4 0 0 6 Maerewhenua ... '' ... — 0 0 10A Mahakipawa — 0 1 0 Moonlight-Nelson , Creek — 0 0 8t Nevis Diesel ... ... 0 0 4* 0 0 5 New Cornish Point (cont.) — 0 0 6 New Cornish Point (paid) Nokoraai 0 2 11 0 0 0 11 3 3 Oxenbridge 0 0 11 0 1 0

Paddy’s Point 0 2 6 0 3 0 Skippers 0 0 9 0 0 10 Waitabu . — 0 4 9 N.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) 3* p.c. Stock. 19381945 104 0 0 34 p.e. Stock, 19381943 104 0 0 34 p.c. Stock. 19411945 104 0 0 34 p.c. Slock, 19581952 105 10 0 34 p.c. Stock. 19391952 103 10 0 34 p.c. Stock, 19411952 -...103 10 0 4 p.c. Bonds, Jan. 15, 1940 ... .... 105 0 0 4 p.c. Stock, Jan. 15, 1940 .:. ... 105 0 0 — 4 p.c. Bonds, Peb. 15, 1946 105 0 0 — 4 p.c. Stock, Feb. 13, 1946 ' 105 0 0 — 4 p.c. Bonds, April 15, 1949 105 0 0 — 4 p.c Stock. April 15, 1949 ... 105 0 0 — 4 p.c. Bonds. June 15, 1955 107 0 0 — 4 p.c. Stock, June 15, 1955 107 0 0 —