Commerce, Mining, & Finance

Evening Star, Issue 22248, 28 January 1936, Page 6

Commerce, Mining, & Finance

THE SHARE MARKET

DUNEDIN STUCK EXCHANGE This morning’s meeting was held at 10.15 instead of at the usual time (11 o’clock). Conditions generally were' quiet but firm, and the only business recorded was a late sale of National Banks at 71s. A further parcel of these shares was on offer at 71s 6d, but failed to attract a buying quote. E.S. and A. Banks gained further ground with buyers at £6 and no seller under £6 3s 6d. National Insurances improved slightly with a buying offer 2d in advance of yesterday’s quotation. Standards provided the only other quotation in the section. An offer of 40s 6d was made for British Tobaccos without response, and only 6d separated the quotations for Taupo Timbers. Amongst unlisted stocks Quartz Mountains were for sale at 8s 6d. All brewery shares were in strong demand. Sale reported.—National Bank, £3 11s (late yesterday). Quotations as under: —

DIVIDENDS DUE

DOLLAR AND FRANC Press Association —By Telegraph—Copyright LONDON, January 27. (Received January 28, at 11 a.m.) The dollar is quoted at 4.99 11-16 and' the franc at 74 15-16.

THE SEARCH FOR GOLD ARGO REPORT The following is the Argo Gold Dredging Company’s official return for the wee k: —Yield, 430 z; hours dredged, 128; yards treated, 10,000. RIG RIVER MINES The following is the official report on the repairs to the Big River Gold Muling Company’s main shaft for the week ended January 23:—Shaft: Lrom bearers up to the floor of No. 5 chamber was timbered and packed, and the opening out set and second chamber set stood and sides packed. Shaft timbering was completed, and centres weie in position as tar as cap of chamber set. Guides and centres that had been ieit out would now be put in as they worked up to the ironbark bearers in the bottom of the caved ground. Also the permanent ladders and stagings would be fixed in position. When the ,r0 ! 1 " bark bearers were reached, they would have to commence the straightening process. MATAKI RETURN [Pmt United Poim Association.] AUCKLAND, January 27. The Mataki return for the week ended on Sunday was 38oz for 134 hours’ work. LARGE SCALE HINES Besides being the chief gold-produc-ing country of the world, South Africa also possesses the largest scale individual mines. In 1934 five of the Transvaal mines each treated more than 2,000,000 tons of ore. As an illustration of the size of operations, two groups, Crown Mines and Government Areas, each produced more gold than the total production of Australia in 1934, which was 881,9180 z. Two of the largest scale mines in Australia are the Wiluna Gold Mines Ltd. and Lake View and Star Ltd, Last, year Wiluna treated 439,395 tons of ore for a yield of 108,3190 z of gold. The Lake View and Star output was 524,510 tons for 164,5550 z.

MOONLIGHT FIELDS , Moonlight Goldfields report a washup of 28oz for 100 hours, MURRAY GREEK 1 The adjourned special meeting of the shareholders of Murray Creek Gold Mining Company, held on Friday last, carried a special resolution granting to Mr G. W. Lawrence, of Wellington, a five months’ option to purchase the assets of the mine at Eeefton for the consideration’ of £12,500. in fully paidup shares of a value of £1 each in a new company to be formed within the period mentioned, with a working capital of £15,000, and a total nominal capital not exceeding £35,000. A portion of the issue will be underwritten. I BENDIGO GOLDLIGHT DREDGING The dredgemaster advises that he washed up 15oz 13dwt at the end of last week as a result of intermittent dredging during the last fortnight. The dredge is _at present stopped on account of a minor breakage and shortage of water. GOLDFIELDS RETURN Messrs W. A. Mitson and .Co., secretaries of the Goldfields Dredging Company Ltd., report that the return for last week was 12oz 2dwt. DIVIDEND INCREASED PROFITS OF BERLEI (N.Z.) LTD. The twelfth annual report of Berlei (N.Z.) Ltd. for the year ended December 19, reveals an increase both in net profits and in the dividends rate. There was a net profit, after making full allowance for depreciation and income tax, of £6,260. To this is added the balance of £594 brought forward from last year. An interim dividend of Is 3d per share paid in July absorbed £2,187, leaving at the credit of profit and loss £4,667. From this the directors recommend the payment of a final dividend of Is 3d per share, absorbing £2,187, leaving to be carried forward a balance of £1’,479. The directors’ report states that, despite disturbed trading conditions, particularly in the latter half of the year, the company has been able to record an increase in sales. The building, plant, and machinery, and other fixed assets have been well maintained, and liberal provision made for depreciation thereon. The continued co-operation between the associated Berlei Companies results in material benefits to the individual organisations. The retiring directors, Messrs N. Z. Brodziak and S. Reid, are nominated for re-election.

Profits in 1934 totalled £5,746, and in 1933 £5,865.

This year’s dividend of 12J per cent, compares with 8J per cent, last year. Paid capital stands at £35,000. Sundry creditors, including provision for 'income tax, total £7,036. There is a reserve of £7,500, and total assets (including cash in hand £4,247) are £54,202.

FOREIGN EXCHANGE ON HEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates _ (to-day) for purchase and sales of foreign exchanges (all rates subject to alteration without notice)■

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice; —

Buyers. Sellers. £ s. d. £ s. d. BANKING— Australasia 11 15 0 New South Wales ... — 34 10 0 New Zealand 2 7 9 New Zealand (Long “D”) 1 11 6 Commercial 0 19 2 B.S. and A 6 0 0 6 3 6 National of New Zealand ... ... 3 11 6 INSURANCE— National , 0 18 2 Standard — 3 5 6 SHIPPING— P. and 0. Deferred Stock 1 4 3 U.S.S. Co. (pref.) ... — 1 7 .0 MEAT PRESERVING— N.Z. Refrigerating (cont.) ... 0 10 10 Southland Frozen (paid) 0 3 18 0 South Otago Freezing 7 6 — Waitaki Farmers’ Freezing 3 10 0 4 0 0 LOAN AND AGENCYMortgage Corporation 0 5 0 Perpetual Trustees ... — 3 5 6 COALKartangata ■ ... 1 1 6 Westport 1 3 3 1 3 9 Westport-Stockton (pref.) 0 2 3 0 2 7 WOOLLEN COMPANIES Bruce (ord.) 0 12 6 Bruce (pref.) 1 1 6 — Kaiapoi (ord.) — 0 15 0 Kaiapoi (pref.) — 0 18 0 MISCELLANEOUS— British Tobacco ... 2 0 6 Broken. Hill Proprietary (5s) 0 1 9 9 D.l.C. (pref.) 1 3 — Dominion Fertiliser ... 1 3 6 — Dominion Fertiliser Debs 106 0 0 Dunedin-Kaikorai Trams ' 2 0 0 _ Dunedin Stock Exchange Proprietary 1 19 0 2 0 0 G. J. Coles ’ 3 11 0 3 12 0 Milburn Lime and Cement ... _ 2 5 0 National Electric — 0 13 0 N.Z. Drug Co. ... ... — 4 1 s N.Z. Farmers’ Fer- . tiliser ... 0 19 9 . _ N.Z. Newspapers ... 2 0 0 1 10 N.Z. Paper Mills 1 9 9 6 Taupo Timber 0 8 10 0 9 4

BREWERIES— New Zealand 2 12 9 _ Staples’ 1 15 9 — Dunedin 1 9 0 — Timaru 0 8 6 “ AUSTRALIAN MINING— Broken Hill South (£1) ... .... 5 5 0 — Electrolytic Zinc (ord., £1) 1 15 6 — Mount Lyell (£1) 1 2 0 1 3 0 Mount Morgan (2s 6d) — 0 18 3 GOLD MINING— Bendigo Goldlight (isr — 0 0 4 Big River (Is) 0 *1 9 0 2 1 Brian Boru (Is) — 0 0 4 Gillespie’s (Is) 0 0 10 0 1 0 King Solomon (Is) .... 0 3 5 — Lawson’s Elat (Is) — 0 0 6 Mount David (5s) ... — 0 1 6 Nokomai (5s) 0 2 0 0 2 9 Skippers (Is) ... 0 0 2 — Waipapa Beach (Is ... 0 1 6 0 1 9 Waitahu (5s) — 0 3 0 T/orksop (Is) — 0 2 6 Martha (5s) 1 0 0 — •I.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) 3)- p.c. Stock., Nov., 1938-52 . 102 0 0 — 3) p.c. Stock, March, 1939-43 102 0 0 — 3j p.c. Stock, Sept., 1939-43 102 0 0 — 3i p.c. Stock, May, "1939-52 102 0 0 — 4 n.c. Bonds, 1937-40 100 7 6 — 4 p.c. Stock, 1937-40 100 7 6 UNLISTED STOCKS— M’lntoah, Calefy, Phoenix 0 11 0 — National Tobacco 3 10 0 — Quartz Mountain — 0 8 6

National Tobacco—Pref., 8 per cent., ord. 15 per cent Smith and Smith Ltd.—Interim 2j Jan. 31 per cent, on preference Christchurch Gas Co—Interim, Jan. 31 4- per cent Commercial Bank — Half-yearly, pref. at 4 per cent, per annum, and ord. at 5 per cent. Feb. 5 per annum Feb. 7 Kuala Karapar Tin—Is per share Broken Hill South — Jubilee Feb. 28 bonus, 2s 6d a share Mar. —

Buying. Selling. London— £100 stg. N.Z T.T. £124 £124 10/ O.D. £123 10/, £124 8/9 Australia— £A to £100. N.Z •• T.T. £101 £100 10/ Fiji— £F to £100 N.Z T.T. £90 7/6 £89 New York — Dollar to £1 N.Z . T.T. 4.04| 4.01 O.D. 4.06i 4.01* Montreal— Dollar to £1 N.Z T.T 4.03*' 3.99| O.D 4.041 4.00* France — Francs to £1 N.Z T.T 60.76 59.93 O.D. 61.21 59.97 Noumea— • Francs to £1 N.Z T.T 62.56 58.56 O.D T.T. • 63.01 58.62 Papeete— Francs to £1 N.Z T.T. 62.56 58.71 O.D. 63.01 58.77 Belgium— Belgas to £1 N.Z. ... ,.. T.T. — 23.422 O.D. — 23.433 Germany— Reichmarks to £1 N.Z T.T. — 9.809 O.D. — 9.814 Switzerland — Francs to £1 N.Z ’ T.T. 12.397 12.127 O.D. 12,502 12.132 Holland — Florins to £1 N.Z T.T. '5.955 5.805 O.D. 6.015 5.809 Java — Florins to £1 N.Z T.T. 5.933 5.773 O.D. 5.993 5.777 Japan— / N.Z. pence to 1 yon T.T. — 17| O.D. — 17 39-64 Shanghai— N.Z. pence to 1 dollar T.T. 17 11-32 18 23-32 O.D. 17 5-52. 18 45-64 India and Ceylon— N.Z. pence to 1 rupee ... T.T. 22 5-32 22 29-32 O.D. 22 1-16 22 57-64 Hongkong— >• N.Z. pence to 1 dollar T.T. 18 31-32 20 23-32 O.D. 18* 20 11-16 Singapore— N.Z. pence to 1 dollar T.T. 34* 35 7-16 O.D. 34 3-16 55 27-64 Sweden— Kroner to £1 N.Z T.T. 15.785 15.490 O.D. ' 15.845 15.500 Norway— Kroner to £1 N.Z T.T. 16.184 15.894 O.D. 16.244 15.904 Denmark — Kroner to £1 N.Z T.T. 18,203 17.803 O.D. 18.263 17.903 Austria — Schillings to £1 N.Z T.T. — . 20.77 O.D. 20.79 Czechoslovakia — Crowns to £1 N.Z T.T. 95.06 O.D. — 95.11

U.S.A. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— T.T. (dol.) 4.0U 3.99| O.D. (dol.) 4.0l| 4.004 BUYING— O.D. (dol.) , 4.06 4.044