Commerce, Mining, & Finance

Evening Star, Issue 22193, 22 November 1935, Page 9

Commerce, Mining, & Finance

FOBES6B EiiCHAKSE * ON HEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following for purchase and sales of foreign exchange (all rates subject to alteration without notice)

METAL MARKET Press Association—By Telegraph—Copyright LONDON, November 20. The following are the official metal quotations:— 1 Copper.—Standard, £35 6s 10Jd per ton; forward, £35 14s 4Jd. Electrolytic.—Spot, £39 ss; forward, £39 15s. Wire bars, £39 16s. Lead.—Spot, £l7 17s 6d; forward, £17.17s 6d. , „ Spelter.—Spot, £l6 3s 9d; forward, £l6 3s 9d. • Tin.—Spot, £224 ss; forward, £212 10s. Pig Iron.—Home trade, £3 10s; export, £3 Is 6d. Antimony. British, £79 10s; foreign, £54 15s. Molybdenite, £1 14s 6d per unit. Wolfram, £1 14s 6d. Silver.—Standard, 29 5-16 d per oz; fine, 31|d. • PUBLIC TRUST OFFICE STATEMENT FOR OCTOBER Estates of a value of £354,085 were reported and accepted for administration by the Public Trustee during the month of October, 1935. The total value of the estates under administration by the Public Trustee on March 31, 1935, was £60,706,016, and the new business for the seven months ended October 31 was £3,746,585. Grants of administration made by the court in favour of the Public Trustee. numbered 183 for the month. During the month 331 new wills appointing the Public Trustee executor were deposited for safe custody by living testators and 302 existing wills were revised to provide for .changes desired by testators. The total number of wills now held in the Public Trust Office is 84,912. SYDNEY WOOL SALES ALL DESCRIPTIONS FIRM Press Association—By Telegraph—Copyright SYDNEY, November 21. At the wool sales 12,498 bales were offered and 11,894 sold, while 560 were disposed of privately. There was very strong inquiry for choice spinner wools, with all other descriptions very firm. Competition was particularly keen and widespread. Greasy merino sold to the Australian record price of 29Jd.

THE RESERVE BANK THE WEEKLY SUMMARY [Per United Press Association.] WELLINGTON, November 21. i The ‘ Gazette ’ issued to-nignt contains tlio following statement of the liabilities and assets of the Deserve Bank of New Zealand as at the close of business on Monday, November 18. The I tigures at the dose of last week arc 1 given for the purposes of comparison, shillings and pence being omitted: — LIABILITIES.

THE SEARCH FOR GOLD MINING APPLICATIONS DEALT WITH _ At the last sitting of the Warden’s Court at Lawrence the following applications for mining privileges were dealt with:— Paddy’ Point Gold Mining Company Ltd. (Waitahuna) : Prospecting license over 50 acres Crown lands, town of Havelock. Objected to by James L. Paul, Mrs Margaret Carr, and Mr Walker. After evidence was heard the warden granted the application, conditionally on the prospecting being carried out by boring or sinking, and that all holes be filled up and fences not interfered with. '• Costs amounting to 30s were allowed the objectors.—The same company’s application for a prospecting license over 10 acres of Crown lands in the town of Havelock was also granted, conditionally that the prospecting was done by boring or sinking. Island Block Gold Dredging Comi pany Ltd. (Auckland): Special dredging claim of 32 acres Crown lands, block 3, Benger survey district. Granted, one year being allowed in which to commence operations. The same company’s application for a specal dredging claim of 32 acres in block 2, Benger survey district, was also granted, subject to work being commenced within 12 months. Robertson Brown (Tuapeka Mouth); Special alluvial claim of 15 acres in block 11, Waitahuna West survey district. Adjourned till next court sitting (December 16). Edwin G. M. Foord (Opoho, Dunedin) : Special alluvial claim of 60 acres Crown lands in blocks 52 and 53, Adams Flat (Tokomairiro survey district). Recommended for the consent of the Minister of Mines. Fifty-five Gold Mines Ltd. (Tuapeka Mouth): Protection over amalgamated claim, No. 1,402, and also special allu--vial claim. No. 1,386, both situated in block 1, Waitahuna West survey district. Granted for six months, dating from October 14, 1935. Hugh M, Quilter (Waitahuna Gully): Surrender of amalgamated alluvial claim and residence site. Granted, subject to a declaration being filed. ARGO DREDGING COMPANY Tho following is the official return of the Argo Gold Dredging Company Ltd. for the week:—The yield was 730 k for 140 hours’ dredging and 13,600yds treated. SPECIAL WAIHI PAYMENT A special liquidation payment of 3s sterling on Waihi mining shares (now split into Martha and Waihi Investment shares) will be made next Tuesday. The payment will be worth about 3s 9d a share to New Zealand holders. MATAKI DREDGING DIVIDEND DECLARED. The Mataki Gold Dredging Company Ltd. has advised the Stock Exchange Association that a dividend of one penny per share has been declared. It will he payable on November 30. The books will be closed from November 27 fo December 1. WORKSOP RETURN A Reefton Association message states that Worksop Extended returns 450 z for 132 hours over 10,100yds. GOLDEN DAWN. RETURN The Golden Dawn Company reports that for 12 working days ended November 11, 440 tons of ore were treated for £1,686, at £7 2s per gold ounce. MATAKI DIVIDEND The Mataki Gold Dredging Company Ltd. (Murchison) announces a dividend of Id per share, payable on November 30.

SHORTAGE OP PHOSPHORUS. There's a shortage of phosphorus in the average modern, diet—and phosphorus is the food that your nerves need. That’s why people get “..run down,” nervy, easily tired.’ They need Marshall’s Fospherine. 1 “ Marshall's” nurses the nerves and builds up your vigour and vitality. 2s 6d a bottle of 100 doses of this famous nerve tonic at your nearest store.—[Adyt.J

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, November 21. On the Stock ..Exchange prices are still moving, mostly in holders’ favour, business covering a wide range of securities. Tooths shares, however, gave way under moderate realisations.

CANADIAN BUTTER EXPORTS Press Association—By Telegraph—Copyright OTTAWA, November 20. Canadian butter exports for October totalled 6,496,7001 b, worth 1,504,786 dollars, compared with 64,1001 b, worth 14,002d01, in October last year. The increase was largely through the stimulus of the Butter Marketing Board. In October 6,412,1001 b was sent to the United Kingdom and 84,6001 b to other countries. COMPANY NEWS RAWANG CONCESSIONS A dividend of 6d a share and a bonus of .6d a share sterling have been declared by Rawang Concessions Ltd., and will be payable, plus exchange, in Australia on November 28. In March last the company declared a dividend of 6d a share and a bonus of Is a share sterling. TIPROFF SEAL CONTRACT The Tiproff Patent Seal Company Ltd. has received advice that a con-' tract has been completed with ono of the largest manufacturers in France to supply markets, including Switzerland, Morocco, Italy, and Spain. Negotiations are pending completion with Belgium, Holland, and Africa. Further rights are to be sold for America and Canada. TATTERSFIELD LIMITED “ STRONG FINANCIAL POSITION.” “ The company is in a strong financial position, and the directors look forward to another year of successful trading,” said Mr J. W. Tattersfield, chairman of directors of Tatterfield Ltd., at the annual meeting this week. Mr Tattersfield said the company had fully maintained its depreciation allowance and the insurance fund had been increased. It was intended to increase this fund and to carry a fair portion of marine risks internally. Stocks were lower than last year, due to earlier shipping of wool. No bad debts had been incurred, which was a record for the company, DAIRY PRODUCE The National Mortgage and Agency Company has received the following cable from London ;—Butter: Market steady. New Zealand finest, 103 s, 104 s; New Zealand first. 102 s 103 s; Danish, f.0.b., 1245, 105 s; Australian, 102 s 103 s. Cheese: Market steady. New Zealand white, 52s 6d, 535; New Zealand coloured, 53s 6d, 545; Canadian, ,545, 68s.

London— Buying. , Selling. £100 stg. N.Z '.. T.T. £124 £124 10/ O.D. £123 10/ £124 8/9 Australia — £A to £100 £100 10/ N.Z. T.T. £101 Fiji— £F to £100 T.T. £90 7/6 £89 N.Z New Tork — Dollars to £1 N.Z . T.T. 3.98J 3.95 O.D. 4.00$ 3.95/, Montreal— Dollars to £1 _ N.Z . T.T. 4.02* 3,99 O.D. 4.04 3.99/, France — Francs to £1 N.Z . T.T. 60.88 59.58 O.D. 61.18 59.63 Noumea — Francs to £1 . T.T.' 61.83 58.83 N.Z O.D. 62.23 58.88 Papeete— Francs to £1 ~ _ N.Z . T.T. 61.83 58.85 O.D. 62.23 58.88 Belgium— ■ Bellas to £1 T.T. — 23.111 O.D. — 23.126 Cermany— Beichmarks to £1 9.642 N.Z.- . T.T. — O.D. — 9.647 Switzerland — Francs to £1 N.Z . T.T. 12.462 12.062 O.D. 12.537 12.072 Holland — Florins to £1 N.Z . . T.T. 6.006 5.756 O.D. 6.056 5.760 Java— Florins to £1 N.Z . T.T. 5.923 5.698 O.D. 5.973 5.702 Japan— N.Z. pence to 1 yen .. T.T. — 17 19-32 O.D. — 17 37-64 Shanghai— N.Z. pence to 1 dollar T.T. 17 13-32 18 23-32 O.D. 17 9-32 18 45-64 India and Ceylon— N.Z. pence to 1 22'23-32 rupee T.T. 22| O.D. 22i 22 21-32 Hongkong— N.Z. pence to 1 dollar * T.T. 21 13-32 22 21-32 O.D. 21 9-32 228 Singapore — N.Z. pence to 1 __ dollar T.T. 34* 35 5-16 O.D. 34-i 35* Sweden — Kroner to £1 N.Z. , T.T. , 15.790 15.460 O.D. 15.830 15.470 Norway— Kroner to £1 N.Z . T.T. 16.200 15.870 O.D. 16.240 15.880 Denmark — Kroner to £1 N.Z . T.T. 18.208 17.878 O.D. 18.248 17.888 Austria— Schilling to £1 N.Z T.T.' — 20.63 O.D. — 20.65 Czechoslovakia — Crowns to £1 N.Z. . T.T. — 95.01 O.D. — 95.06

Last Week. Tins Week. 1. Paid-up capital £500,01)0 £500,000 3. General Reserve Fund 1,000,000 1,000,000 3. Bank notes 9,101.080 9,172,624 (a) State 5,764,162 5,470,707 5,375,183 •1,297,719 (c) Other 767,042 282,881 5. Time deposits — • — 6. Liabilities in currencies other than New Zealand currency ... 90,700 — 7. Other liabilities 100,653 Total £31,527,603 £21,911,051 ' ASSETS. 2,801,732 2,801,732 (b) Sterling exchanges 10,918,051 17,338,186 (c) Gold exchange — — 9, Subsidiary coin 210,760 208,624 10. Discounts.— (a) Commercial and acricultural bills — — (b) Treasury and local body bills — “ II. Advance?— (a) To State ot State undertakings — — (b) To other public authorities — • (c) Othe' — — 13. Investments 1,538,412 1,538,442 13. Bank buildings — — 14. Other assets 28,319 24,065 Total ... £21,527,603 £21,911,051 Proportion of reserve (No. 8 less No. 6' to notes and other demand Ila*bllities 99.093% 99.16%

MORNING SALES. £ s. d. Commonwealth Bonds— 34 p.c., 1943 99 '10 0 3* p.c., 1942 102 10 0 4 p.c., 1938 . ... 102 12 6 4. p.c., 1941 ... ... ... 101 12 6 4 p.c., 1944 102 7 6 4 p.c., 1947 103 7 6 4 p.c., 1950 104 5 0 4 p.c., 1953 104 2 6 4 p.c., 1955 104 7 6 4 p.c., 1957 ... ... ... 102 17 6 4 p.c., 1959 103 10 0 Bank of New South Wales 33 7 6 Tooths ... _ 2 18 9 Associated News ... 1 5 0 Associated News (pref.) ... 1 4 3 Australian Glass 4 4 9 Broken Hill Proprietary (first instalment paid) ... 1 8 104 Colonial Sugar 42 15 0 Dunlops ... 0 16 4* Henry Jones ... 1 18 6 AFTERNOON SALES. Bank of New South Wales 33 7 6 Commercial Bank of Australia 0 17 3 United Insurance 11 10 0 Associated News 1 5 0 Associated News (pref.) ... 1 4 3 Australian Gas (A) 7 16 0 Newcastle Gas (A) 0 13 0 British Tobacco 2 0 9 Tooths 2 18 6 Tooheys ... 1 10 104 Drug Houses 1 8 0 Australian Glass 4 4 9 Dunlop Pcrdriau 0 16 44 Dunlop Perdriau (pref.) ... 1 16 0 Electrolytic Zinc ' 1 16 0 David Jones 2 3 6 R. Fowler 0 13 6 Australian Gypsum 0 17 6 Hume Pipe Beard, Watson 0 15 3 0 18 0 Clifford Love (ex div.) ... 2 12 6 Peters 2 4 3 Spencers Kandos 0 • 1 7 5 8' 3 W. R. Carpenter ... ... 2 1 6 Sargents 1 4 0 Mark Foy 1 3 li Stedman 0 17 9 United Provisions 0 12 8 Standard Cement ... ... 1 2 0 Mataki. 0 3 6 Wilcox, Mofflin 0 10 4 Winchcombe, Carson 1 10 0 Mount Lyell 1 1 6 Mount Morgan 1 17 6 Broken Hill Proprietary ... 2 19 6 South Broken Hill 5 9 6 Kuala Kampar 0 15 H Rawang 0 8 11 Emperor 0 19 3 Tavua ... 0 3 9 Puchong Tin 0 19 0 MELBOURNE, November 21. E.S. and A. Bank 5 11 0 British Tobacco 2 0 44 Mount Lyell ... 1 1 74 Koroere 0 12 10 Loloma _. i 1 17 9 Enterprise 3 15 0.