Commerce, Mining, & Finance

Evening Star, Issue 21945, 4 February 1935, Page 7

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANGE No sales actually occurred on the Dunedin Stock Exchange call this morning, and the market generally was quiet. There was no further change in Bank ot New Zealand Long D quotations, while the buyino- bid for National Bank of New Zealand* "improved to 71s, still without attracting a seller, . , ' Buyers of National Insurances increased their oiler to 22s 9d. ... .. „ • Business was reported after the call m Dominion fertilisers at 21 ® 6d > l , he , buyl s§ quotation on ’Change of 21s 4d beng 2d better than that of Saturday There was a seller of debentures at £lO5 10s, but buyers remained firm at £lO3. Following vestibule business at bis 9(3, . Woolworth’s (Sydney) had a buyer who offered 91s, but sellers were Is away. New Zealand Breweries were in keen demand at 51s, but there was a wide maric6t Mount Lyclls showed a tendency to improve, a buying bid of 16s 4d failing to induce a seller. Following the slightly better report from Okarito and a reported sale at Bs, the market improved and a buyer at the same figure produced a seller 2d away. There was a slightly improved offer for King Solomons, nut Gillespies were quiet, no report being available on There was no change in the quotations for Government stocks, buyers predommatiag’ SALES. Reported.—Late Saturday: WoolworUvs (Sydney), £4 ll«-9d;. Okanto Bs. After Call-Dominion Fertiliser, £1 Is 6d (two).

DIVIDENDS DUE. Australian Provincial Assurance — annual, 2J per cent F»b. 5 Auckland Gas —half-yearly ... Feb. 5 Napier Gas—2l p.c Feb. 5 Wellington Gas Half-yearly, 8 p.c. per annum Feb. 6 Staples' Brewery Half-yearly of 1\ p.c Feb. 6 N.Z. Rcfrig. (£1 sud 10s)—annual, SJ, p.c Feb. 9 Commercial Bank of Australia — preference, 4 p.c. per annum ; ordinary, at rate of 5 p.c. per annum, in Australian currency Feb. 26 Nat. Mort. (ord. and B issue)— half-yearly, 5 p.c. per annum Feb. 27 Bank N.S.W.—interim quarterly, 5s a share in Aust. currency Fob. 27 N.Z. Insur.-Half-yearly, 10 p.c. per annum Feb. Ch’ch Gas—Half-yearly, 6 p.c. per annum Feb. Elder, Smith—lnterim, 5 p.c. per annum Mar. 1 Elec Zinc—Half-yearly, 8 p.c. per annum Mar. 13 Broken Hill South Mar. 15 Hume Pipes (Aust.) Ltd.—lnterim, 4 p.c. per annum ... Mar. 30 Smith and Smith Ltd. (pref.) - Annual, 5 per cent. ... ... June I LONDON MEAT MARKET Press Association—By Telegraph—Copyright LONDON, February 2. New Zealand Sheep.—Canterbury and North Island selected cross-bred wethers and maiden ewes: North Island- 1 ' 48-561 b, 4*d; 57-641 b, 3|d; 65-721 b, 3f d. Australian Sheep. First quality cross-bred and/or merino wethers: 40-651 b, 3ld; second quality, 30-oslb, 4jjd. Ewes; 30-551 b, 4|d. Argentine Sheep.—First quality crossbred wethers: 65-721 b, 41d. Argentine Lambs. First quality: 361 b and under, 6Jd ; 37-421 b, 6|d. New Zealand Lambs.—Canterbury: Second quality, average about 321 b, Bd. Selected North Island, including Downs: 361 b and under, 7i}d; 37-421 b, 7|d; second quality, average about 321 b, 7jd. Other North Island: First quality—--37-421b 7|d; second quality, average about 321 b, 7d. Australian Lambs. —Victorian; First quality, 361 b and under. 7d; 37-421 b, 7Jd; second quality, 361 b and under, bid. Other States; First quality, 361 b, 61d; second quality, 361 b and under, ,6Jd. All States: Third quality, average about 281 b, 6fd. New Zealand Frozen Beef.—Ox fores (160-2201 b), 3d; ox hinds (160-2201 b), 3Jd. Australian Frozen Beef.—Ox hinds (1601 b and under), 4d; ox binds (over 1601 b). 4d; Ox crops (1001 b and under), 3id ; ox crops (over 1001 b), 3£d. Argentine Chilled Beef.—Ox fores (160-2201 b), 3Jd; ox hinds (160-2201 b), Did. New Zealand Pigs.—First quality: 60-801 b, 6cl; 81-100Jb, DJd; 101-1201 b, Sjd. Australian Pigs. First quality; GO-lOOlh (average about 801 b), 5Jd; 1014201 b, Sjd. FOREIGN EXCHANGE ON NEW ZEALAND CURRENCY BASIS

COTTON, RUBBER. ETC. Pres* Association—By Telegraph—Copyright LONDON, February 2. Friday’s closing prices were as follow: Cotton: Spot, 7.07 d per lb; March, 6.83 d. Rubber: Para, 4-Jd per lb; plantation (smoked), 6Jd. Jute: February-March, £l7 10s per Copra: February-March, South Sea, £ll 12s 6d per ton; smoked,. £ll 12s 6d; plantation,- Rabaul, £l2 2s 6d. Linseed oil, £2l 10s per ton. Turpentine, 47s 6d per cwt. LONDON WHEAT MARKET Press Association—By Telegraph—Copyright LONDON, February 2. Wheat.—Cargoes are steady, and the demand is quiet. Manitobas are being held for full prices. Australians are occasionally 3d lower and La Platas occasionally easier on lower La Plata cablegrams. Parcels are mostly IRI to 3d lower. Futures: London. Fqbru-ary-April, 20s Id ; June, 20s 10(1; Liverpool—March, 4s Old; May, 5s 0R1; July, 5s 2Jd.

THE SEARCH FOR GOLD MOSSY CREEK DREDGE The Mossy Creek dredge return for last week was 21oz 17dwt from 4,30 U yards. BRIAN BORU RETURN The Brian Born dredge return for the week ended Saturday was 270 z 16dwt for 108 hours, from 11,080 yards. The dredge is now in the vicinity of No. 7 bore. KO9NLIGHT-NELBON GREEK A southern report states that owing to the difficulty of getting rid of the big stones in the claim, the MoonlightNelson Creek Sluicing Company (West Coast) has dispensed with all employees until further notice, AUSTRALIAN OUTPUT The production of gold in Australia during 1934 is estimated at J383,4HJ fine ounces, an increase of 53,0780 z on the figures for 1933, and 175,0200 z higher than the output for 1932. With the exception of Tasmania, every State registered higher yields. KAHAKiPAWA REPORT The report for the week ending January 30 states;— The leading face has been advanced 14ft in good grade Wash. Last week there was showing in the face 2ft 6in of bottom, but now there is none ,at all in the eastern side, and only Ift on the western side. The deep ground appears to be to the east of us, and as the wash is blue pug the indications are very favourable. The arch drive to connect the present working with Golden Gate workings has been driven 19ft. Wo are now right in the schist bottom, no wash being visible. A small electric pump has been installed in the bottom, of No. 2 shaft to pump the water out. and enable us to enlarge the shaft for approximately sft deeper before commencing to cut out the> chamber. This is necessary to give the required fall from the leading face to the shaft to facilitate trucking. The main members of the new head-frame are now in position ; the centres, guides, and landings have still to be finished. OKARITO RETURN Messrs W. A. Mitson and Go., secretaries of the Okarito Five-Mile Beach Gold Dredging Company Ltd, report that the wash-up for the week ended Saturday, February 2, was 490 z 13dwt for 126 Hours’ dredging. BIG RIVER MINES The report for week ending January 31 states;—No. 4 North Drive—Advanced oft. No stone yet to hand. Appearances favourable. Stope progressing satisfactorily. Rise 33tt froni floor of level. Two feet stone in face. No, 4 South Drive.—Advanced 7ft on footwall leader. Shows signs of increasing in width. Leading stope producing good stone and looking well. Mam Shaft.—Good progress is being made repairing shaft No. 4 level downwards. Battery.—Supply of stone to battery restricted owing to the horizontal spur wheel of aerial tramway breaking. Cleaning up for month of January, NEVIS CLAIM INSPECTED The directors visited the claim on February 1. An inspection of the race proved that an excellent job had been made and it was capable of carrying all the water required for both top and bottom claims. Schoolhouse Creek is at present carrying between 40 and oO heads of water, and in view of the dry season, this shows that work will not be hampered for lack of water. The plant is an efficient one, and has been well assembled, there being no leaks. Six weeks’ sluicing on the top claim produced 320 z, the gold being from fine to lldwt nuggets. A face is being opened out on the lower claim with two nozzles operating with a pressure of 300 ft. Prospects are encouraging, as 9dwt were secured after a few days sluicing on the new ground, the gold being a nice coarse sample. The directors are pleased at the able and economical way in which the manager (Mr J. Johnston) is working the claim, and as the next return will consist of the wash-nn from both top and bottom claims, they are confidently looking forward to the, future, CHICAGO WHEAT Press Association—By Telegraph—Copyright NEW YORK, February 2. Chicago wheat: May, 961; July, 88J; September, 87J; New York cash, 115 J. RIGHT TO REGISTRATION [Pzr United Phess Association.} PALMERSTON N., February 2. The Dairy Factory Managers’ Registration Appeal Board, consisting of Mr J. L. Stout, S. M. (chairman), and Messrs J. G. Walktey (Hawera) and J. M'Donald (Cheltenham), assessors, following the hearing this week, has given its reserved decision upholding the appeal of Mr Gavin Paterson, secretary and manager ot the Tamaki Co-opera-tive Dairy Company, Terehunga, Hawke’s Bay, against the decision of the Dairy Factory Managers’ Registration Board refusing to grant him a certificate of registration as manager in accordance with the Dairy Industry amendment Act. The Appeal Board held that as the appellant was engaged by the Tamaki Company as secretary and manager in 1931 he'was still secretary and manager on December 22, 1933, and by virtue of the Act lie was entitled to registration, , (

Quotations as under: £ s. d. £ t. d. BANKING— New South Wales ... 31 5 0 2 11 ft New Zealand U New Zealand (Long “ D ”) . 1 11 Commercial 0 1 12 3 0 17 0 ft E.S. and A “ 0 Q 6 u National of. N.Z. ... 3 it — National of Australasia 0 (cont.) - 6 6 a ix 0 . Reserve Union of Australia Ltd — 9 2 0 INSURANCE— National of N.Z. ... 1 2 9 New Zealand (cum 3 11 0 div.) BH1PP1NG8 U.S.S. Co. (pref.) ... — 1 0 MEAT PRESERVING— N.Z. Refrigerating (paid, cum div.) — 1 u 9 N.Z. Refrigerating (cont., cum div.) 0 io Southland Frozen 0 0 10 2 2 2 0 (cont.) ••• . South Otago Freezing o o 0 loan and agency— Goldsbfough, Mort — N.Z. Guarantee Corporation — ' ? Perpetual Trustees ... 5 x 1 9 9 9 0 — Wright, Stephenson 9 1 0 3 (nief.) u 1 COALj o KaitangaU — - T 6 1 2 3 Westport , 1 Westport-Stockton _ 0 2 9 (ord.) miscellaneous— Broken Hill Proprie6 2 It 0 tary * x Brown, Ewing - < f . 3 (pret.) - 1 1 Bruce Woollen Co. _ 0 15 9 (ord.) ... __ 2 0 0 Crystal Ice Co 1 6 6 D.I.C.(pref.) .... - , Dominion Fertiliser 1 4 1 1 8 Dominion Fertiliser Den 105 io 0 bentures ... 1 11 0 Dominion Rubber ... Kaiapoi Woollen __ 0 15 9 (ord.) •" Jlilburn Lime and 9 Cement ... £ National Electric (ex 0 — div.) u N.Z. Drug Co. 4 0 0 N.Z. Farmers Fer0 19 0 tiliser ••• N.Z. Malay Rubber _ 1 5 0 (pref.) 1 15 6 N Z. Newspapers 1 14 6 N.Z. Paper Mills ... — n iq 6 Regent Theatre — Smith and. Smith (pref., cum div.) 0 ia ‘Sun ’ Newspapers J ; 0 5 — Wilson’s (N.Z.) Cement 1 12 Woolworth’s (Sydney) A U 9 0 4 12 0 breweriesNew Zealand — 2 11 Timaru 0 8 0 7 2 Vi 6 'AUSTRALIAN MINING— Electro. Zinc (pref.) 1 13 Mount Lyell 0 16 6 ft — 42 o 6 Mount Morgan GOLD MINING— 0 o r Bell-Hooper — n 1 Sr Bell-Kilgour ... - n Bendigo Goldhght ..., 0 0 10 0 o 1 2 0 5 Big 'River Brian Boru u u 8 0 o n Q Central Shotover • " Gillespie’s „ Golden Point 0 u 7 1 81 01 Q 1 o Golden Progress ... “ o 3 o Golden Sands Kildare “ , King Solomon o o 5 8 o 2 8 o XU o o 4 Nevis Diesel ' Nokomai o £ Okarito u 3 1 o 2 9 o 0 8 2 Q ft tn Oxenbridge n Skippers u Waihi 1 Waitahu 0 g o 0 7 0 0 0 I 6 Maori Gully - N.Z. GOVERNMENT LOANS (Bonds quoted are £100 bonds;. £1 p.c. Stcek, 1958- ' **1943 ... I 06 1° 0 V,'- s “ k- to io 0 — 0 — |i p.c. Stock. 1938**1952 ... - 106 10 0 — Ji p.c. Stock. 1939**1952 106 10 0 — U p.c. Stock. 19411952 10° 10 0 — 4 p.c. Bonds, Jan. 15, 0 1940 102 10 — 4 p.c. Stock, Jan. 15. 1940 ••• 102 10 0 — 4 o.c. Bonds..Feb. 15. 1946 ••• ••• 106 0 0 - 4 p.c. Stock, Feb. lo. - 1946 105 ° 0 - 4 p.c. Bonds, April 15. 1949 ••• 106 10 0 — 4 p.c. Stock, April 15, 1949 ••• 106 10 0 - 4 Ms BoDds ’ • 108 10 0 — 4 l P 955 S^K J T 1 - 5 -10B10 0 -

The Bank of New South Wales, Dunedin. • acted the following ’ rates for purchases and sales of foreign exchange:—* Now York — .Dollars to £1 N.Z. ... T.T. 3.94 7-8 O.D. 3.96 1-8 3.89 1-8 3.89 5-8 Montreal— Dollars to £1 N.Z. ... T.T. 3.94 1-8 O.D. 3.95 3-8 3.90 1-8 3.90 5-8 France— Francs to £1 N.Z. T.T, 60.38 50,03 O.D. 60.68 50.13 Noumea— Francs to £1 N.Z. T.T. 61.33 58.33 O.D. 61.73 58.38 Papeete— £1 Francs to N.Z. T.T. 61.33 58.35 O.D. 61.73 58.38 Belgium— £1 Belgas to 16.565 N.Z. ... T.T. 17.265 O.D. 17.38516.580 Germany— Reichsmarks to £1 N.Z, ... T.T. — 9.602 O.D. — 0.607 Italy—• £1 Lire to 45.53 N.Z. ... T.T. — O.D. — 45.57 Switzerland — Francs to - ei 11.991 N.Z. T.T. 12.391 O.D. 12.466 12.001 Holland— Florins to £1 5.956 5.706 N.Z. T.T. O.D. 6.006 5.710 JavaFlorins to £1 5.915 5.690 N.Z. T.T. O.D. 5.965 5.694 Japan— N.Z. pence to 1 17 21-32 yen T.T. — Shanghai— N.Z. pence dollar to 1 .. T.T. 1/9 1/10 5-16 O.D. 1/8 7-8 1/10 1-4 India and CeylonN.Z. pence to 1 22 13-32 22 rupee ... T.T. O.D. 22 9-32 22 11-16 Hongkong— N.Z. pence dollar to 1 T.T. 25 51-32 27 1-32 O.D. 25 27-32 26 31-32 Singapore— to 1 N.Z. pence 34 7-16 35| dollar T.T. O.D. 34 5-16 35 5-16 T.T. represents telegraphic transfers. O.D. represents on demand transactions.