THE SHARE MARKET

Evening Star, Issue 21966, 28 February 1935, Page 8

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE A late sale of Gillespies at Is 6cl was the only transaction recorded this morning, the market generally lacking animation. Bank of New South Wales shares were inquired for at £3O ex div., but present holders remained firm. British Tobaccos were for sale at 38s, but failed to attract an offer. Further improvements were shown in the buying quotes for Dominion Fertilisers, Dominion Rubbers, and Dunlop Rubbers, but sellers failed to appear in each case. New Zealand Breweries were firm with buyers at 50s and no seller. A parcel of Carltons was offered at 545, but failed to receive an offer. In the gold mining section there was strong demand for shares in the two English syndicates with claims on the Molyneux, while Kildarcs, Mossy Creeks, and Waitaluis wore inclined to harden. Although every issue of Government Loans was in keen demand, the market was devoid of sellers. Sale Reported.—Gillespie’s Beach, Is 6d (late yesterday). Quotations as under:—

N.Z, GOVERNMENT LOANS(Bonds quoted are £IOO Bonds.) 54 p.c. Stock, 1938*1943 106 10 0 34 p.c. Stock, 19391943 ... ... 106 10 0 34 p.c. Stock,' 19411943 106 10 0 34 p.c. Stock, 19381952 106 10 0 34 p.c. Stock, 19393953 106 10 0 34 p.c. Stock, 19411952 106 10 0 - 4 p.c. Bonds, Jan. 15, 1940 ... 102 5 0 —■ 4 p.c. Stock, Jan. 15, 1940 102 5 0 4 p.c. Bonds. Feb. 15, 1946 105 0 0 4 p.c. Stock, Feb. 15, 1946 ... 105 0 0 - 4 p.c. Bonds, April 16, 1949 ... 107 10 0 • - 4 p.c. Stock, April 15, 1949 107 10 0 4 p.c. Bonds, June 15, 1955 109 0 0 4 p.c. Stock, June 15. 1955 109 0 0 UNLISTED STOCKS— Waipapa Beach ... 0 0 Ip 0 0 5p p., Premium. PUBLIC TRUST OFFICE STATEMENT FOR JANUARY Estates of a value of £405,229 were reported and accepted for administration by the Public Trustee during the month. On March 31, 1934, the total value of the estates under administration by him was £60,760,493, and the nevy business for the ten months ended January 31 was £5,007,121, compared with £4,209,656 for the corresponding period last year. Grants of administration made by the court in favour of the Public Trustee numbered 115 for the month. During the mouth 346 nevy wills ap-

pointing the Public Trustee executor were deposited for safe custody by living testators and 303 existing wills were revised to provide for changes desired by testators. The total number of wills now held in the Public Trust Office is 83,264.

DIVIDENDS DUE. Carlton Brewery—Final, halfyearly, at 10 per cent, per annum, making 9 per cent. * for the year To-day. Elder, Smith—lnterim, 5 p.c. per annum Mar. 1 Standard Insurance—lnterim, Is . 3d share Mar. 4 Huddart, Parker Final, preference, ,3 per cent.; ordinary, 4 per cent Mar. 9 Elec. Zinc—lnterim, pref., 8 p.c. per annum Mar. 13 Broken Hill South—lnterim, Is 6d a share Mar. 15 Amalgamated Wireless Ltd. —Interim, 4 per cent ... Mar. 16 Golconda Holdings Ltd. —First Interim, 5 per cent Mar. 20 North Broken Hill Company—ls 6d a share Mar. 29 Bank of Australasia—Final, 6s a share ; .’ Mar. 29 Hume Pipes (Aust.) Ltd.—lnterim, 4 p.c. per annum ... Mar. 30 Smith and Smith Ltd. (pref.) Annual, 5 per cent June I # THE SEARCH FOR GOLD ADDISON’S FLAT RETURN The Addison’s Flat return for the fortnight ended February 23 was 240 z Gclwt for fifteen shifts. Twenty-one shifts were lost through the shortage of water. WHITE’S ELECTRIC DREDGING The following report has been received from White’s Electric Gold Dredging Company;—“ The secretary reports that an additional area of approximately 100 acres has been acquired by the company; this now brings the total area of the company’s property to 270 acres. Boring operations have now commenced in this area, the result of No. 1 bore being depth 21ft, value Go.4d, gold at £4 per oz. The boring operations are being carried on under the supervision of Mr S. G. Lyon (late of Malaya), lately dredge masteremployed by Messrs Osborne and Chappell, of the Tongkaha Tin Dredging Company, who has expressed a very favourable opinion of the company’s property. A dredge contractor has offered to take a contract to dredge the area nt an overall cost of 3d per yard. All licenses which the company holds have now been granted through the Warden’s Court.”

MAORI GULLY DREDGE

, The dvedgemaster (Mr D. Caithness) reported on February 25 that a very heavy flood was experienced last week, but the dam stood the strain very well, and no damage was done. The dredge has now been turned round ready to take the buckets aboard. These are all assembled, and just require putting in position. The goldsaving tables are well in hand, and everything is being pushed ahead as expeditiously as possible. The contractor has a full staff at work, and hopes to have the dredge digging at an early date. BISMARCK RANGE RICH ORE Bismarclr Range (Lucknow) Gold Exploration N.L. reports a clean-up for the six weeks ended February 16, 50 tons firsts, and 155 tons seconds being treated for a return of 2,1620 z retorted gold, an average of lOJoz a ton for the total crushing. WESTLAND ALLUVIAL (K.?.) Prospecting report on February 18 states;— Hau Hau Hole No. 5,16 d. Taking up 400 acres dredging area one mile up north bank Mikonui river. Adjacent workings lately given good results, and there is much evidence of past successful hand workings pn the area. CHARLESTON SLUICING During the fortnight ended February 23 very little sluicing was done and no wash-up took place (says the ‘ Press ’). For the first week work was concentrated on the shifting of the 22-inch pipe line and the necessary work to enable a new face to be opened up. This work was finished on February 18, but sluicing was 'unable to be commenced then owing to a shortage of water. Work was accordingly held up for a few days pending rain and an improvement in the water supply. Rain has subsequently _ fallen, and sluicing operations are again being proceeded with. BELL HILL SLUICING The fourth annual meeting of the Bell Hill Gold, Sluicing Company' Ltd. will be held in Christchurch on March 12. The directors’ report states that the claim has been worked at all times when water has been available, and on the appointment of the new manager, Mr R. Quinn, two shifts, were started. However, with a distinct shortage of water for the major portion of the final two months of the year, _ very little sluicing was carried out, with a consequent drop in the gold return. Extra gold savers had been installed, and the intake of George’s Creek enlarged. The return. on gold won during the year after allowing for expenses was £2,303 6s sd, compared with £1,951 8s 5d for the previous year. The year’s working, after allowing for debenture interest at 12J per cent., has resulted in a loss of £57 6s Bd, which, when transferi’ed to appropriation account, leaves a credit balance in that account of £134 3s Bd. Mr J. Taylor retires from the directorate by rotation, and offers himself for re-election. The auditor, H. R. Best and Company, also offer themselves for re-election. The balance sheet is as follows: Liabilities.—Capital, £11,979; debentures, £4,471 9s lOd; sundry creditors, £351 10s 4d; National Bank of New Greymouth, £197 5s sd; appropriation account, £134 3s 8d; total. £17,133. Assets. —National Bank of New Zealand, Christchurch, £7 6s lOd; sundry debtors, £4O; developnxent account. £12,842 16s 3d; preliminary expenses, £1,123 6s 2d; gold account, £l2O.

FOREIGN EXCHANGE ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wale*, Dunedin, quoted the following rates for purchase* and sales of foreign exchange (all rates subject to alteration without notice): —

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates to-day, which are subject to alteration without notice:— U.S.A. Canada, Conversion of dollar bills re- * ceived for collection and sale of dollar drafts and telegraphic transfers 4.84 4.84 Purchase of dollar bills ...• ... 4.88 4.88 On - a. New Zealand currency basis these rates are equft'alent to:— SELLING— T.T. ...... 3:881 3.881 On Demand 3.89 g 3.89£ BUYING— On Demand ... ... 3.95 f 3.951 ADDINGTON MARKET The sale all round yesterday at Addington was good, and there was a slight improvement in values for most classes of stock. Store Lambs.—Thex-e was a heayy exxtry, and forward lambs were slightly firmer, others remaining unchanged. Good rape lambs .made from 15s 4d to 16s sd; medium rape, 13s 3d to 14s 9d; wether lambs, 10s Id to 12s sd; ordinary wether lambs, 8s 9d to 9s lOd; cull lambs, 5s Id to 8s 3d. Store Sheep.—Good ewes were firm at last week’s rates, but inferior quality was a shade, easier in the , concluding stages of the sale. Extra good twotooth three-quartex-bred ewes i-ealised 31s Id; good two-tooth three-quartei’-bred, 25s to 27s 3d; medium two-tooth three-quarter-bred, 22s 9d to 245; good two-tooth Corriedale, 30s; good twotooth half-bred, 28s to 30s 6d; medium two-tooth half-bred, 23s to 255; inferior two-tooth half-bred, 21s to 22s 6d; extra good sound mouth half-bred, to 20s 9d; good sound mouth half-bred, 17s 6d to 19s; medium sound mouth, 15s 6d to 17s; ordinary sound mouth, 13s 9d to 15s 3d; inferior sound mouth, 11s to 13s 6d; failing moxxth ewes, 7s 6d to 9s; cull ewes, 4s 10d, to 6s 6d; good wethers, 17s to 19s; ordinary, 14s to 16s 3d. ' ■> Fat Lambs. Export lambs mamtamed the schedule price of 7Jd per lb, heavy lambs for butchers’ trade up to Bd, and show lambs made 40s 6d. Fat Sheep.—Some 4,200 were penned, against 4,500 last week. There was only a small proportion of prime sheep. Best ewes were up by 2s to 2s 6d per head, and wetheri by Is to Is 6d, others re-, maining unchanged. Extra prime heavy wethers brought up to 31s Id; prime heavy, 24s 6d to 275; prime mediumweights, 22s to 275; medium quality, 19s to 21s 6d; light wethers, 16s to 18s 6d; extra prime heavy ewes, 25s 7d; prime heavy, 20s to 22s 6d; prime medium-weight, 16s to 19s 6d; ordinary, 12s 6d to 15s 6d; light, to 12s. Fat Cattle.—Some 450 were pemied, including more of a better quality. Good cattle improved by 10s per head, but medium and inferior showed no change. Best steer and heifer heel sold at up to 25s 6d per 1001 b; good, from 21s 6d to 245; reavy, from 19s 6d to 20s; secondary, from 14s to 16s • and rough, down to 11s per 1001 b. Extra prime heavy steers made up to £ll 7s 6d; prime heavy, £9 10s; mediumweight prime, £8 10s to £9 10s; medium quality, £4 10s to £7 10s; light, £4 ss; extra prime heifers, to £9 7s 6d; prime. £5 5s to £7 10s; medium, £3 5s to £5: light, to £3; extra prime cows, to £7 17s 6d; prime, £5 to £6 ss; ordinary, £2 15s to £4; light and aged, 35s to £2 10s. Fat Pigs.—There was a medium entry, porkers being in small supply. The demand was good, particularly for porkers, which showed an appreciation in values. Choppers realised £2 5s 6d; haconers, 50s to 58s 6d; heavy, £3 to £3 7s 6d; extra heavy, to £3 14s 6,d (average per lb 5Jd to 6Jd); porkers, 35s to 38s 6d; heavy, 40s to 46s 6d (average per lb 6d to 6£d). PRICE DF GDLD Fives Association—By Telegraph—Copyright LONDON. February 27. (Received February. 28, at 9.40 a.m.) Fine gold is quoted at £7 3s Hid per

BANKING— New South Wales ... Buyers. £ s. d. * 30 0 Ocx Sellers. £ s. d. New Zealand — 2 9 6 New Zealand (Long “D”) ... 1 11 3 112 0 ' E.S. nnd A. 4 18 0 — National of New Zealand ' 3 10 0 Reserve • ... — 6 12 0 Union of Australia Ltd 8 11 6 8 14 0 INSURANCE— National 12 4 South British — 4 16 0 Standard 3 13 6 SHIPPING — U.S.S. Co. (pref.) ... — 17 6 MEAT PRESERVING— N.Z. Refrigerating (paid) ‘ 0 19 3 0 19 6 N.Z. Refrigerating (cent.) 0 8 11 0 9 2 Southland Frozen (paid) ... ... ... _ 4 0 0 Southland Frozen (cont.) - 2 0 0 LOAN AND AGENCY— Goldsbrough, Mort ... 19 0 National Mortgage ... — 3 0 0 National Mortgage (“ B ” issue) 1 10 0 _ N.Z. Guarantee Corp. 0 5 10 — Wngnt, Stephenson (ord.) — 0 18 6 Wright, Stephenson (pref.) 0 19 7 10 0 COAL— Kaitaugata 0 19 4 Westport 110 119 . Westport-Stockton (ord.) — 0 2 6 W estport-Stockton (pref.) ... 0 3 3 0 5 0 MISCELLANEOUS— British Tobacco 1 18 0 Brown, Ewing (pref.) 1.1 0 — Bruce Woollen Co. (ord.) ... ... ... — 0 14 6 Bruce Woollen Co. (pref.l 110 — D.l.C. (pref.) — 16 0 Dominion Fertiliser 118 — Dominion Fertiliser De bentures 105 0 0 Dominion Rubber ... 1 10 6 — Dunedin Stock Exchange Pty — 2 3 6 Dunlop Perdriau ’ Rubber ... 0 18 9 _ , hlaiapoi Woollen 015 6 (ord.) ••• — Milburn Lime and Cement ... 2 2 6 Mosgiel .Woollen Co. 10 15 0 — N.Z. Drug Co. 3 18 6 4 0 0 N.Z. Paper Mills .., Regent Theatre — 1 15 0 — 0 19 6 Smith and Smith (pref.) Wilson’s (N.Z.) Cement 0 IB 0 — 1 13 6 Woolworths (Sydney) 4 11 0 — BREWERIES— New Zealand 2 10 0 Carlton ...' ... ... — 2 14 0 OIL— * Moturoa (ord.) _ 0 4 0 AUSTRALIAN MININGMount Lycll 0 17 0 0 18 0 Mount Morgan — 1 19 6 Upper Watut (2s paid) ... - 0 7 0 GOLD MINING— Aotearoa ... 0 10 Bell-Hooper 0 0 1 0 0 3 Bell-Kilgour ... ... — 0 0 1 Bendigo ' Goldlight ... 0 0 9 0 0 lOi 0 2 4 Big River , — Central Shotover — 0 0 7 Charleston — 0 0 7 Olutha River 0 19 — Gillespie’s — 0 1 6i 0 2 § Golden Sands — Goldfields Dredging — 0 0 9 Kildare 0 2 7 0 3 0 King Solomon — 0 3 Ip Lawson’s Flat — 0 0 4 Maerewhenua — 0 0 3 Mahakipawa — 0 0 11 Maori Gully — 0 15 Mining House — 0 0 5 Molyneux River 0 19 — Mossy Creek 0 2 2 ■ Nokomai — 0 2 6 Oxenbridgc ... ... — 0 0 9 Skippers — 0 0 6 Waitahu 0 2 4 . —

Buying. Selling. London— £ioo stgrN.Z. ... ... T.T. £124 £124 10/ O.D. £123 10/ £124 7/6 Australia — £100 A. N.Z. ... ... T.T. £101 £100 10/ Fiji— £100 F, N.Z, ... T.T. £90 7/6 £89 New York — Dollars to £1 N.Z. ... T.T. 3.93| 3.88J O.D. 3.941 3-891 Montreal — Dollars to N.Z. ... £1 T.T. 3.93| 3.89-J O.D. 3.941 3.894 France — Francs 4 to N.Z. £1 T.T. 59.48 58.18 O.D. 59.78 58.23 Noumea — Francs to N.Z. £1 T.T. 60.43 57.43 O.D. 60.83 57.48 Papeete— Francs to N.Z. £1 T.T. 60.43 57.43 O.D. 60.83 57.48 Belgium — B'lgas to N.Z. ... £1 T.T. 16.978 16.278 O.D. 17.078 16.293 Germany — ' Reichsmarks to £1 N.Z T.T. _ 9.4fel O.D. . 9.466 Italy— Lire to N.Z. ... £1 T.T. 45.09 O.D. — 45.13 Switzerland — Francs co N.Z. ... ei T.T. 12.206 11.806 O.D. 12.281 11.816 Holland — Florins to N.Z. SI T.T. 5.876 5.626 O.D. 5.926 5.630 J ava— Florins to N»Z. £1 ... T.T. 5.834 5.609 O.D. 5.884 5,613 Japan— N.Z. peace yen to 1 T.T. - 17 21-32 Shanghai— N.Z. ponce to I dollar ... ... ... T.T. 254 24 7-16 0.1* 25 24| India and Ceylon— N.Z. pence to 1 rupee T.T. 22 15-32 22J O.D. 22 9-32 22 11-16 Hongkong— N.Z. pence dollar , to 1 T.T, 28 S-32 29 7-32 O.D. 28 1-32 29 5-32 Singapore— N.Z. pence dollar to 1 ■ T.T. 34 13-32 35 11-32 O.D. 34 9-32 35 9-32 T.T. represents telegraphic •transfers. O.D. represents on doihand transactions.