Commerce, Mining, & Finance

Evening Star, Issue 21992, 30 March 1935, Page 12

Commerce, Mining, & Finance

FORE KIN EXCNMWE IN NEW ZEALAND MAMMY MM The Bank of New South Wales, Dunedin, Quoted the following rates for purchase® and Sales of foreign exchange (all rates subject flo alteration without notice): — Buying. Selling.

T.T. represents telegraph transfers. _ O.D. represents on demand transactions. DOLLAR RATES. The Associated Banks (other than the Bank of New Scuth Wales) quoted the following dollar-sterling rates to-day, which are subiect to alteration without notice: U.S.A. Canada. Conversion of dollai bills received for collection and sale of dollar drafts and telegraphic transfers ... 4-80 4.85 Purchase of dollar bills 4.83 4.86 n On a New Zealand currency basis these pates are equivalent to _ , U.S.A. Canada. SELLING—iji 3.85 i 3.87* On demand ... 3.85* 3.88| BUYING— On demand ... 3.91} 3.95 J COMPANIES REGISTERED Exchange Court Picture Theatre Company Ltd. Reregistered as a public company, February 19, Dunedin. Sargood, Son, and Ewan Ltd., reregistered as a private company March 11, Dunedin, . Plastic Industries Ltd., registered as a private company March 9. Office: 260 Vogel street, Dunedin. Capital: £SOO into 500 shares of £1 each. Subscribers; Dunedin—A. N. Knopp 220, A. J. Bunce 130, W. H. Grant 150. Objects: To carry on the business of manufacturers, ' importers of, and dealers in composition, plaster, wood, metal fittings, showcards, display fittings, advertising devices, and incidental. METAL MARKET Pton Association—By Telegraph—Copyright LONDON, March 28. The following are the official metal Quotations: — Copper.—Standard, £3O 4s 4Jd per Jon; forward, £3O 5s "Id.Electrolytic.—Spot, £33 ss; forward, £33 15s. . Wire bars, £33 15s. Lead.—Spot, £l2; forward, £l2. Spelter.—-Spot, £l3; forward £l3. Tin.—Spot, £216 ss; forward, £212 18s 9d. Silver.—Standard, 28? d per oz; fine, 30|d.

THE SEARCH FOR GOLD KING SOLOMON RETURN The wash-up at the King Solomon mine for the week was 71oz lOdwt. GOLDEN DAWN RETURN

For the nine and a-lialf working days ended March 18, 340 tons were treated at the Golden Dawn mine for £1,062, at £7 2s per gold ounce. The mill was stopped for two days and a-half for repairs. THE GOLDFIELDS DREDGE The secretary of the Goldfields Dredging Company Ltd. reports that, due to the Shotover Hirer being high in flood, dredging operations were suspended on Tuesday, and were resumed on Thursday. There was therefore no wash-up this week. CHARLESTON SLUICING ■The annual report of the directors of the Charleston Sluicing Company Ltd. for the year ended December 31, 1934, which will be presented to the second annual meetings of shareholders on April 10, states• “ As was mentioned in our previous report, sluicing operations were suspended towards the end of 1933 in order to replace the original wooden blocks in the tunnel tail race with steel rails. The steel rails have proved a great success, no trouble being experienced with them. They are standing up to the work exceedingly well. This work was completed towards the middle of February, 1934, and the first wash : iip since the cessation of sluicing operations took place on March 17. The total gold won since that date was 3980 z Bdwt, valued at £2,735 14s Id. The mine costs for the period under review were £2,591 14s 4d. The working and profit and loss accounts show that gold production was valued at £2,735 14s Id. Expenses left a gross working profit of £143 I9s 9d. Other expenses amounted,to £l,OBl 9s 4d, leaving a net loss for the year of £937 9s 7d. MACETOWN DEVELOPMENTS The following is the Macetown Developments’ report for the period ended March 23: The trenching of the new shoot of pay ore discovered in the All Nations lode, Maryborough mine, has disclosed a length of 110 ft and a sloping width of sft 6in, value sdwt 12gr per ton, the gold being very evenly disseminated through the entire shoot. Further west than the shoot, the reef track gives a fair prospect of gold in the dish. A start has been made with the cross-cut tunnel to intersect the new shoot discovered in the Homeward Bound mine, where exceptionally high values' were obtained, at a point 90ft vertical under the rich section. The distance driven for the week was 6ft, The survey of the Homeward Bound section is now complete. This discloses a very much larger volume of ore than was iticipated. Three very definite shotos lying in parallel show a cross section of 700 ft at right angles to the pitch, and a length of backs along the downward strike of 3,000 ft and an average sloping width of sft 6in. The survey of the whole of the mines will be completed in fourteen days. The plan when complete will show the whole of the reef system, correlated, and the locations of the various pay ore shoots, with the assay values set out. TALISMAN DUBBO MINES The accounts of the Talisman Duhbo Gold Mines Ltd. for the year ended December 31 show a net profit of £5,733,, against £915 earned in the half-year ended December, 1933, and a loss of £llß in the previous half-year. Interim dividends of sixpence per share paid in March, May, and July, 1934, absorbed £2,614, and the balance is appropriated as follows .v-Preliminary expenses written off, £380; income tax reserve, £93; development reserve, £1,500; depreciation, £B7; balance carried forward (against £57 brought into accounts), £1,116. _ The company’s ore is at present crushed at the Golden Dawn battery,' but the directors state that they are considering the purchase of a milling plant. For 50 1-3 tons of ore treated at the Golden Dawn battery for the Talisman Duhbo mine, the actual return was £394. TALISMAN DUBBO GOLD MINING fSPECUL TO THE ‘ StAK.’] AUCKLAND, March 30. The accounts of the Talisman Duhbo Gold Mines Ltd. for the year ended December 31 show a neb ‘profit of £5.733, as against £95 earned in the half-year ended December, 1933, and a loss of £llß in the previous half-year. Interim dividends of fid per share paid in March, May, and July, 1934, absorbed £2,614, and the balance is appropriated as follows: —Preliminary expenses written off, £380; income tax reserve, £93; development reserve, £1,500; depreciation, £B7; balance carried forward (against £57 brought into the accounts), £1,116. During the year 2,034 tons of ore were treated for an actual return of £15,299.

WHEAT, FLOW, ETC. Press Association—By Telegraph—Copyright LONDON, March 28. Cargoes are firmer, mainly owing to a further North American advance. Buyers are awaiting further developments. Parcels are steadily held. Manitobas were l}d to 3d up, and Plates 3d to 6d dearer. They closed quiet owing to the appreciation of sterling and disappointing early overseas advices. Futures: London—April, 22s 4d; June, 22s lOd; Liverpool—March, 5s l|d; May, 5s 3jjd; July, 5s 5Jd; October, 5s TJd. Spot trade is quietly steady. Flour is firm, and oats, peas, and beans are unchanged. NEW YORK. March 28. Chicago wheat: May, 94J cents, July 92| cents, September 92 i cents. New York cash,.. 1124 centa.

STOCK AND SHAREBROKERS. WEEK-END BULLETIN. WE OFFER, SUBJECT TO SALE OK

WE HAVE BUYERS FOR: Amalgamated Kawarau, Waitahu, Sandhills, South Otago Freezing Co., Woolworths (W.A.) Ltd., Afforestation Limited Shares, N.Z, Perpetual Forest Bonds (all issues), Manawatu Knitting, Charlestons. Oamaru Woollen Mills, Quartz Mountain (Papua). THE SECURITIES CORPORATION. (N.Z.) LTD., ALLIANCE ASSURANCE BUILDING, 20 CRAWFORD STREET, DUNEDIN. Telephone 11-777 (three lines). Telegrams: “ Toscol.”

liondon — £100 *tg. N.Z. ... T.T. ; B1E4 £124 10/ O.D. ; £123 10/ £124 7/6 (Australia — £A to £100 N.Z, ... T.T. : £101 £1C0 10/ piji— £F to £100 £90 7/6 , £89 N.Z. ... , T.T. ; jfew York— Dollars to £1 3.854 3.864 N.Z. .. T.T. 3.89J O.D. 3.91 Montreal— Dollars to £1 3.884 N.Z. .. T.T. 3.924 O.D. " 3.93| 3.884 France — £1 Francs to 58.12 N.Z. ■ ... ■ T.T. 59.42 O.D. 59.72 58.17 Noumea — £1 Francs to 60.37 57.57 N.Z. .. T.T. O.D. 60,77 57.42 Papeete — Francs to £1 57.37 N.Z. .. T.T. 60.37 O.D. 60.77 57.42 Belgium— £1 Balsas to N.Z. ... t.t. : Not quoted 19.618 O.D. Not quoted 19.633 Bermany— Reichsmarks to £1 9.465 N.Z. ... T.T. — O.D. — 9.470 Italy— £1 Lire to 45.98 N.Z. ... T.T. • — O.D. — 46.02 Switzerland — £1 Francs to 12.208 11.808 N.Z. .. T.T. O.D. 12.283 11.818 Molland — £1 Florins to 5.627 5.631 N.Z. .. T.T. O.D. 5.877 5.927 fava— £1 Florins to 5.875 5.925 5.650 5.654 N.Z. .. T.T. O.D. Fapan— to 1 ' N.Z. pence yen T.T. _J 17 23-32 Shanghai— N.Z. pence to 1 224 23 9-16 1 dollar ... T.T. O.D. 224 254 India and CeylonN.Z. pence . rupee to 1 , T.T. O.D. 22J 224 22 23-32 22 21-32 Hongkong— N.Z. pence dollar .. to 1 T.T. 29 5-32 30 7-32 O.D. 29 1-32 30 5-32 Singapore— N.Z pence to 1 T.T. 34 5-18 35* o dollar O.D. 34 3-16 35 3-16

WITHDRAWAL 25 D.I.C : ... £ >. 0 16 d. 6 5 Associated Motorists (prefs.) 1 5 0 10 Kaitangata Coals 0 18 6 0 60 Tru Colour Film (Us paid) I 5 150 N.Z. Drugs 3 19 6 100 Loyal Ltd. (ord.) 1 0 6 200 Regent Theatres 0 19 0 5 Reserve Banks 6 9 0 MINING. 201) Mahakipawa, 1930 Pref, ... 533 Gillespies’ Beach ... 0 1 4 0 1 6i 500 Skippers 0 0 3j 1,000 Oxenbridge 0 0 7 A 800 New Gabriel’s Gully ... ... 0 2 6 " 100 Broken Hill Pty. ... 2 8 9 200 Otago Gold and Scheclite ... 0 12 6 500 Waipapa Beach (6cl paid) ... 0 0 81 1,000 Bendigo Goldlights ... ... 0 1 0 1,000 Macetown (?id paid) 0 0 U