Commerce, Mining, & Finance

Evening Star, Issue 21905, 17 December 1934, Page 9

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANGE With lew than one. week to go before the Stock Exchange vacation, markets are very quiet, though three transactions were recorded this morning. There was a Wmc lick of -interest in Australian mistrial stocks, which have tended to ease following • fSf * K 'S.d. conltooid « strong demand, without producing a sellei. Dunlop Rubbers were firmer following sake at 19s 9d, 19s 10d, and N.Z. Drugs were for sale at 79s 6d, with buyers offering 78s, 3s less than just over a week ago. Wool■worth's Sydney scrip was easier, with sellers at £4 and no buyer. t , New Zealand Breweries maintained a steady demand at 50s, without revealing a seller, and in the Australian mining section, ■Mount Lyells again had an unsupphed buyer -at 17s Bd. . . , In the gold mining section, a parcel oi 2.000 Bell-Kilgours changed hands at the weakened price of lid. Big Rivers had a slightly better buyer, and Skippers were a shade firmer. . . , Government Stocks and Bonds had good support from investors, but there was little prospect of business. SALES. Reported.—Dunlop Perdriau. 19s 9d, 19s 10 On ’Change.—Bell-Kilgour. lid.

DIVIDENDS DUE. Kauri Timber—3 p.c. for year, 9d a share Dec. Worksop Extended —10 p.c. ... ... Deo. 19 Hume Pipe (Far Bast)—interim, 3 p.c., half-year ended Sept. 30 Dec. 20 Goldsbrough, Mort.—interim, 4 p.c. p.a. ; Dec. 20 British Tobacco —quarterly, li p.c - Dec. 31 Morris Hedstrom —interim, ord. 2 p.c ... ... Doc. 31 National Bank of N.Z.—interim 4 p.c. p.a., free of tax ... Jan. 5 Bulolo Gold Dredging—interim, 90 cents Canadian, less tax of 5 p.c _ Jan. 10 Placer Development—interim, 1 dollar 80 cents Canadian, less tax of 5 p.c. ~j ... Jan. 10 Sulphide Corporation—2J per cent., subject to income tax adjustment Jan. 14 Claude Neon—s p.c. (8.C.) Jan. 15 METAL MARKET Press Association—By Telegraph—Copyright LONDON, December 14. The following are the official metal quotations.— Copper: Standard, £2B Is IOJd per ton; forward, £2B 9s 4sd. Electrolytic: Spot, £3l 6s; forward, £3l 15s. ; ’ Wire bars, £3l 16s. Lead: Spot, £lO Ss; forward, £lO 10s. Spelter; Spot, £ll 12s 6d; forward, £ll 17s 6d.. ■ Tin : Spot, £228 7s 6d; forward, £228 12s 6d. ■ , Pig Iron: Home trade, £3 7s 6d; export', £3 2a 6d. Antimony: British, £67 10s : foreign, £SB 15s. '■ Molybdenite, £1 14s 6d per unit. Wolfram, £2 per unit. Silver: Standard, 24 7-16 d per oz; fine, 26|d.

THE SEARCH FOR GOLD BELL-HOOPER RETURN The Bell-Hooper return for the past week was lOoz Bdwt. MAHAKIPAWA FIELDS The Mahakipawa Goldfields ltd. report for the period ended December 12 states;—The blocking strip 60ft north of turn off to No. 2 shaft has been advanced a total of 49ft in good grade cemented wash on a soft bottom 2ft 6in above the rails. A blocking strip has been commenced on the west side of No. 4 east cross-cut and been taken out for 21ft in average grade wash which is down almost to rail level. The diagonal drive off No. 11 east crosscut has been driven a further 12ft in brown oxidised wash which is well down below the floor but has not .vet made any gold. No. 2 shaft: The water making at the 40ft level is now being pumped to the surface. It is hoped that this, together with the amount that is leaking through the wash into the drives near the bottom of the shaft, will dry the shaft up. SKIPPERS LTD. The consulting mining engineer reports that the paddock work_ is now commencing to show very satisfactory returns. A partial wash-up of the boxes had been carried out for a return of 32i ounces. It was originally intended to have a complete wash-up of the bottom already exposed, but as, unfortunately* one of _ the 15-inch pipes burst, it was impossible to clean up the bottom or the sump at the base of the elevator. Further, only the top v eight feet of the mats were treated. The river bottom in this paddock is a complete contrast to that of the paddock worked near the_ of the fluming, as it is softish schist contaming a number of crevices, both largo and small. Prospects dug out of these crevices have ranged from ioz to 3oz to the dish. The Diesel power unit is functioning ' satisfactorily and is supplying water under pressure at such times as the local water supply is insufficient. The river had been high during the last two weeks, due to the intensely hot weather prevailing. This has not hampered work very much, as the fluming has been dealing with about 1,800 heads all the time. _ As the snow has now practically disappeared, it is possible to look for three or four months with a complete deviation of the entire stream. During the last few days several deep crevices have been encountered, and Mr Cliniie describes the prospects from these crevices as extremely good; he has forwarded to the office a sample of one ounce of gold scraped out or ,a portion of a crevice with a piece of hoop iron. It is intended to have a wash-up during the ensuing week. The company’s secretary states that the stripping of the present paddock commenced on November 1, 1934, which date must be considered as the beginning of proper production. On that date the cash balance at tbe bank to the credit of the company’s account amounted to £4,679 14s 2d and there was very little money owing to creditors.

OKARITO RETURN The return from the Okarito dredge last week was 330 z Bdwt for 123 hours. TALISMAN DUBBO MINES Talisman Dubbo Mines report that sixty-three tons of ore were treated at the Golden Dawn battery for an actual return of £409. BIG RIVER MINES The report for the week ended December IS states;—No. 3 cross-cut was driven 6ft. A band of slate 2ft wide was crossed during the week. The country is again grey sandstone. No. 4 north drive: Total distance driven 70ft. Reef is much harder and wider, being fully sft Gin of clean stone. The stupe looks well. No. 4 south drive; Total distance driven 48ft. The reef has widened to Oft. Gold is freely seen. Crushing was recommenced on December 11, and will bo continued three shifts per day until the stone or water is exhausted, or to Wednesday, December 19, when the clean-up will take place.

FOREIGN EXCHANGE OH NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates for purchases and sales of foreign exchange;— France —

T.T. represents telegraphic transfers. O.D. represents on demand transactions. The above rates are subject to alteration.

MEAT MARKET Press Association—By Telegraph—Copyright LONDON, December 15. New Zealand < Sheep.—Canterbury and North Island selected cross-bred wethers and maiden owes—North tsland; 48-561 b, 4 6-8 d pei; lb; 57-G4lb, 4 5-8 d; 65-721 b. 4|d. North Island ewes: Under 48lb, 33d; 48-641 b, 3id; 65-721 b, 3fd. Australian Sheep.—First quality cross-bred and/or merino wethers: 40651 b, 3 7-Bd. Second quality: 30-solb, 4d. Ewes: 30-551 b, 3|d. ' Argentine Sheep.—First quality cross-bred wethers: 48-641 b, 4id; 65721 b, 4d. „ Argentine Lambs. —First quality : 37-421 b, 6jd. Second quality: Average about 281 b, 6d. New Zealand lambs.—Second quality, selected North Island including Downs: 361 b and under, 73d; 37-421 b, 7|d. Second quality: Average about S2lb 7d. Other North Island—First quality: 361 b and under, 7id; 37-421 b, 7id. Second quality: Average about 321 b, 63d. „ . . . , Australian Frozen Beef.—Ox hinds (1601 b and under), 3 5-8 d; Ox crops (over 1001 b), 2|d, Argentine Chilled Beef.—Ox fores (160-2201 b), 3 l-8d; ox hinds (160-220 lb), 6 5-Bd. AUSTRALIAN STUCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, December 15. Early sales on Exchange were: — Bonds (fours), 1938, £lO3 7s 6d; 1941, £lO5 7s 6d; 1944, £lO6 17s 6d: 1947, £lO9 2s 6d; 1950, £111; 1953, £lll ss; 1955, £lO9 10s; 1957, £llO 3s 9d; 1959 £1)10 7s 6d: 1961, £llO 10s. Bank of New South Wales, £3O 15s; Tooth’s, 50s 6d; Anthony Hordern, 18s lid; Associated News, 25s 3d; Australian Glass, 59s sd; British Tobacco, 41s; Broken Hill Proprietary, 52s 9d; Colonial Sugar, £42 15s.

COTTON, RUBBER, ETC. Press Association—By Telegraph-Copyright LONDON, December 15. Friday’s closing prices were as follow : Cotton.—Spot, 7.08 d per lb; January, 6.78 d. Rubber.— Para, od; plantation smoked, 6id. , Jute, December-Januaryj £l6 12s 6cl. Hemp: December, nominal, £ls. Copra. December-January South tation Raba.nl, £9 10s. Linseed oil, £2O. Turpentine, 455. BRITISH TREASURY BILLS (British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, December 14. The amount applied for in tenders for £35,000,000 of Treasury bills was £46,670,000. The amount allotted in bills at three months was £31,870,000. The average rate per cent, was 9s 5.48 d, compared with 11s 2.18 d last week. AUSTRALIAN WOOL PRICES Press Association—By Telegraph—Copyright SYDNEY, December 15. The average price of the wool sold in Sydney last week was 9.6 d per lb, while the average price in Melbourne was 9id —one of the lowest averages of the season.

' Buyers. Sellers. £ B. d. £ a. d. BANKING- "! N.S.W. ... _ 6 32 5 0 New Zealand 2 8 Commercial 0 IB Reserve ••• 6 10 0 3 1 6 11 0 INSURANCE—; 1 >7 National ... — 0 1 South British ... — r AS f HIPPING— 8 0 U.S.S. Co. (pref.) 1..' "1 7 0 1 MEAT PRESERVING— N.Z. Refrigerating , (paid) ... - - 1 N.Z.' Refrigerating 0 3 -0 10 :2 j (cont.) .;. ••• — Southland Frozen, 0 (paid) Southland'Frozen , ' .(cont.) ‘ ... - 1 17 6 - 1 Southland Frozen . ’ ,0 (pref.) ... ... — .3 IB LOAN AND AGENCY— National Mortgage ... — 3 0 0 Perpetual Trustees ... 3 1 0 Wright, Stephenson . ' (pref.) ' ... - 1 0 6 .COAL— Kaitangata ... — 1 1 9 Westport i U IV Westport-Stockton (ord.) - 0 3 0 MISCELLANEOUS— 1 5 British Tobacco ... ... — 2 ' Bruce Woollen Go. (pref.) 1 D.I.C. (pref.) 1 0 1 T 6 Dominion Fertiliser ... I U IV ' Dominion Fertiliser Debs ..-JOS 0 0 Dunedin-Kaikorai Trams 1 6 ' Dunlop Perdnau ■ - Rubber 0 19 8 1 0 0 Kaiapoi Woollen / (ord.) ■ — — — 0 15 9 ■ Milbum Lime and T A : Cement ... 2 | N.Z. Drug Co 3 18 N.Z. Paper Mills ... — 0 0 B O u 3 19 6 114 6 • Otago Daily Times 2 10 Regent Theatre 6 0 19 6 Wilson’s (N.Z.) 1 11 K Cement ... ... — •r U 0 Woolwortb’s (Sydney) 4 BREWERIES— ;New Zealand 2 10 0 **■** * on— Moturoa (ord.) — 0 q 4 0 5 0 Moturoa (pref.) AUSTRALIAN MINING— 8 Mount Lyell * 0 17 GOLD MINING— Bell-Hooper ... ... 0 0 4 0 2 Bell-Kilgour • _ 0 Bendigo Goldlight ... Big River 0 Central Shotover ... 0 1 6* 0 0 0 0 11 1 8 0 10 Charleston ... ... , Gillespie’s ... ... 9 Goldfields Dredging ... 0 ■ — 0 0 10 1 6 0 104 1 0 4 9 0 0 Golden Sands ’ — 0 3 Oe Glenroy Kildare ... ... 9 *2 5 0 0 0 9 2 7 King Solomon —* 0 3 11 ' Mining House ... ... ' — 0 0 .4 Moonlight-Nelson 0 2i Creek _ ... «—* 0 Nevis Diesel ... ... — 0 0 44 Nokomai ... .’■• — 0 3 4 ; Okarito *— 0 8 5 Ozenbridgo — 0 0 10 0 8 Skippers 0 Waihi Grand June. 0 0 4 7 8 0N.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) 3i p.c. Stock, 1938- ' 1943 106 0 0 — 31 p.c. Slock, 19390 1943 106 0 — 34 p.c. Stock, 13411943 106 0 0 — 34 p.c. Stock, 1958106 0 0 — 34 p.c. Stock, 1939106 0 0 — 34 ■ p.e. Stock, 1941106 0 0 — 4 n.c. Bonds. Jan. 15, ■ 1940 102 10 0 — 4 n.c. Stock. Jan, 15, 1940 102 10 0 -— 4 p.c. Bonds. Feb. 15, 1946 1° 5 0 0 — ‘ 4 p.c. Stock, Feb. 15, 1946 ... ... - 105 0 0 — 4 p.c. Bonds, April 15. 1949 106 0 0 —- 4 p.c. Stock, April 15, 1949 ••• I 06 0 0 ■—

Francs to £1 N.Z. T.T. 60.94 59.64 O.D. ■ 61.24 59.69 Noumea— Francs to £1 . N.Z. T.T. 61.89 58.89 O.D. 62.29 58.94 Papeete— £1 Francs to N.Z. T.T. 61.89 58.89 O.D. 62.29 58.94 Belgium— £1 Belgas to 16.688 N.Z. T.T. 17.388 O.D. 17.488 16.703 Germany— Reichsmarks to £1 9.690 N. Z. ' T.T. —- O.D. — 9.695 Italy— £1 Lire to 45.85 N.Z. T.T. — O.D. — 45.89 Switzerland — Francs to £1 12.502 12.102 N.Z. T.T. O.D. 12.577 12.112 Holland— Florins to £1 6.016 5.766 ■ N.Z. T.T. O.D. 6.021 5.770 Java — £1 Florins to 5.971 5.746 N.Z. T.T. O.D. . 6.021 5.750 Japan— to 1 N.Z. pence yen . T.T. — 17 21-32 Shanghai— to 1 N.Z. pence dollar T.T. 20g 21 11-16 O.D. 20* 21? India and Ceylon— N.Z. pence to X T.T. 22 5-16 22 21-32 rupee O.D. 22 3-16 22 19-32 Hongkong— to 1 N.Z. pence dollar T.T. 25 9-32 26 11-32 O.D. 25 5-32 26 9-32 Singapore — to 1 N.Z. pence dollar T.T. 34 7-16 55| O.D. 34 '5-16 35 5-16