Commerce, Mining, & Finance

Evening Star, Issue 22329, 4 May 1936, Page 7

Commerce, Mining, & Finance

THE SHARE MARKET BUNEDiN STOCK EXCHANGE Two sales of Westport Coals at £1 2s 9d reported after the call constituted the only business at the call-over this morning. In the banking section sellers predominated, Unions being offered at £9 16s without attracting a buyer.' New Zealands were for sale at £2 6s without a buyer quoting. With the exception of Standards, insurance stocks were neglected. Standards, however, were wanted at Is under last week’s sale price, sellers quoting £3 4s and buyers £3 2s. There was no buying offer for Mortgage Corporations, but sellers asked 10s Bd. in the miscellaneous section there were very few changes registered. Dominion Fertilisers were a little firmer, but 6d separated buyers and sellers. Kauri Timbers ,were wanted at £1 2s, but there was no selling quotation. M’Lcod Bros, were wanted at the improved figure of £3B, but there were no sellers. ' New Zealand Breweries were wide at £2 Us 9d, £2 13s, while a consistent buyer of Duncdins at £1 9s 6d still found sellers absent. Woolworth's (Sydney) were asked for at £7 15s, but sellers were 5s away. In the Australian mining section Electrolytic Zincs (pref.) were weaker at £2 sellers, no buyers. On the other hand, Mount Lyells were firmer at £1 4s 6d, no seller. Following the announcement of a return, Gillespie’s Beach quotations improved to Is 2d buyer, Is 5d seller Big Rivers were alio a little firmer at Is 4d, 2s 2d. The remaining quotations for local gold mining stocks were not active. All issues of Government stocks were wanted, but there were no sellers quoting. SALE AFTER CALL. Westport, Coal, £1 2s 9d (two).

DIVIDENDS DUE Bank of Adelaide—lnt., 4 per cent May 6 Kaitangata Coal — p.c., 2s a share May 7 Sharlsntl and Co.—lnterim, ord. and pref., 21 p.c ... May 11 Mackv, Logan, Caldwell —Final, 3] p.c May 12 Mosgiel Woollen Company—lnterim, 4 per cent May 13 National Insurance —Interim, 4d a share May 15 Broken Hill Proprietary—Halfyearly, Is 3d a share May 20 Bank of N.B.W.—lnterim, 5s a share May 27 National Bank of Australasia— Final, 6s on £lO shares and 3s on £5 shares ... May Henry Tones Co-op. —Interim, 6d a share June 1 Broken Hill South—2s 6d a share June 13 GGTTDH, RUBBER, ETC. Pr«» Association—By Telegraph—Copyright LONDON, May 2. Friday's closing prices were as follow : Cotton.—Spot, 6.64 d per lb; June, 6.06 d. Rubber.—Para, 9d; plantation smoked, 7 10-32 d. Jute. —May-June, £l9 7s 6d. Copra.—May-June, South Sea, £ll 15s; smoked, £ll 10s; plantation, Rabaul, £l2 10s. Linseed oil, £2B 10s. Turpentine, 39s 9d.

THE RABBIT MARKET Press Association—By Telegraph—Copyright LONDON, Ma? 2. Rabbits.—First large, ex store, 16s and 16s 6d.

THE SEARCH FOR GOLD GILLESPIE'S BEACH RETURN The secretary of the Gillespie's Beach Gold Dredging Company Ltd. (Mr T. B. Thompson) reports that the wash-up for the week ended on Saturday was lOOoz 2dwt for 136 hours. ARGO RETURN The following is the official return from the Argo Gold Dredging Company Ltd. for the week ended May 2 : Yield, 660 z; hours dredged, 124; yardage treated, 13,500. GILLESPIE'S BEACH The Gillespie's Bench Gold Mining Company reports a return of lOOoz 2dwt from 136 hours’ working. The residing director (Mr Sullivan) reports that the storm last Friday evening broke the power lino and caused a, temporary stop. The dredge commenced work to-day. WORK AT BIG RIVER The secretary of the Big River Gold Mines Ltd. reports as follows for the week ending April 29. Repairs to Shaft Above No. 2 Chamber.—New sets have been placed in position to a point 31ft above the cap of No. 2 chamber. The bad ground mentioned in the last report has been passed through, and working conditions appear to be improving. r lhe shaft has been relined for about half the distance to No. 1 intermediate level. The latter is 81ft above No. 2 level. Repairs to Dam. —Heavy rain last week filled the dam to overflowing. This tested the repairs to the bottom of the dam and proved them satisfactory. The work of repairing fhe upper timber face and building the clay wall against it is proceeding as N weather permits. WEST COAST DREDGES [Pf.r United Tress Association.] GRFYMOUTH, May 3. The Mossy Creek dredge return was 490 z oclwt from 13,619 yards for 13 1 hours. The Argo dredge obtained a return of G6oz from 13,500 yards for 124 hours. There was no return from the Worksop dredge for the past week. The Maori Gully dredge also had no return for the past week, as operations were stopped for four days to enable tlie dredge to negotiate a very difficult bend. Operations were resumed on Thursday and arc proceeding smoothly. The dredgemaster anticipates that another three weeks will take him through the narrow part of the gorge and past all the difficult bonds. THE MEAT MARKET Press Association—By Telegraph—Copyright LONDON. May 2. New Zealand Sheep.—Canterbury and North island selected cross-bred wethers and'maiden ewes: Under 481 b, SRI per lb; 4S-561b, od; 57-641 b, 4Jd; 65-721 b, 4d. Kwes; Under 48!b, 4RI: 48-641 b, 4Jd; 65-721 b, 3gcl. North Island: 48-561 b, sd; 57-6416, 4-Jd; 60-721 b, 4d. Australian Sheep.—First quality cross-bred and/or merino wethers: 4S-641b, 4Jd. Fwes: 30-5516, 4jld. Argentine Sheep.—First quality cross-bred wethers; 48-641 b, 4f|d ; 65-721 b, 3Jd. Patagonian Sheep.—Wethers and/or maiden ewes; Under 501 b, 7jd; 50-601 b, 7Jd; 30-551 b, 4d. Australian Lambs.-—Victorian; _Flrst quality—36lb and under 6Jd, 37-4216 6Jd; second quality—36lb and under 6Jd. Other States: First quality—--361b and under 6Jd, 37-421 b ojd; second quality—36lb and under, 6*d. All States: Third quality—36lb and under, 7d. New Zealand Frozen Beef.—Ox fores (M5-210lb), 2Jd; hinds (145-2101 b), 3]d. Australian Frozen Beef. —Ox crops (145-21016), 2Jd; hinds (145-2101 b), 3.;d ; hinds (over 1601 b), 4d. New Zealand Chilled. — Hinds, 4|d ; fores, 3d. Australian Chilled. —Hinds (1452101 b), 4d; crops (145-21016). 2Jd. Union of South Africa Chilled.— Hinds, 4Jd; fores, 2-]d. Argentine Lambs. —First quality: 3Clb and under, 6-R1; 37-421 b, 5Jd. Second qualitv : Average about 281 b, 6Jd. Patagonian La in lie.—First quality: 36!b and under. 6RI. Second quality: Average about 301 b, 6]d. New Zealand Lambs. —Canterbury; First quality—36l b and under 7?d, 37-421 b 63d, 43-501 b 6RI; second quality—average about 31|b, 7RI. Other South Island; 361 b and under 7Ri. 37-421 b CJd, 43-5016 6]d; second quality—average about 321 b, 7d. Selected North Island, including Downs: 361 b and under 6id ; second quality—average about 301 b. 7RL Other North Island : _First quality—36lh and under 7Ri, 37-4211) fi.Jd ; second quality—average about 311 b, 7RI. Southern Rhodesia Chilled.—Hinds, 3)d ; fores, 2j!d. Argentine Chilled Beef.—Ox hinds 11 15-21016), old; fores (145-21016), Sid. Frnguayan Chilled. Hinds, 4]d ; fores, 3d. Brazilian Chilled.—Hinds, 4*d; fores, 23 d. New Zealand Pigs.—First quality: 60-81016, SRI; 80-10016, ojd; 101-12016, ojd. Australian Pigs.—First quality: 60-8016, 53d; Sl-lOOlb, 5Jd ; 101-12016, s|d.

FOREIGN EXCHANGE

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: — U.S.A. CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— T.T. (dol.) 3.95 J 3.97 O.D. (dol.) 3.96| 3.97 j BTTYING— O.D. (dol.) 4.00 J 4.01| THE METAL MARKET Press Association —By Telegraph —Copyright LONDON, May 1. The following are the official metal quotation?: Copper: Spot, £37 3s l)d per ton; forward, £37 9s 4Jd. Electrolytic: Spot, £4l os; forward, £4l 15s. " Wire bars. £4l 15s. Lead: Spot, £l6; forward, £l6 Is 3d. Spelter: Spot; £l4 15s; forward. £ls. Tin: Spot, £207 17s 6d ; forward, £207 7s 6d. Silver: Standard, 20 5-16 d per oz; fine, 21 15-16 d. HIDES MARKET Press Association —By Telegraph—Copyright LONDON, .May 2. There is little business in the hides market. Meatworks dry salted: Queensland, 351 b to 451 b, fljjd ; 301 b to 401 b, 7|d; 251 b to 351 b, 6fd : 201 h to 30ib, 6id ; New South Wales, 61d, fijd, 6«d, 6Jd. Wet Salted: Queensland, 501 b to 601 b. 4Jd ; 401 b to 501 b, 44d ; New South Wales, ojd, sd; Victorian abattoirs, 4|d, 4£d.

Quotations as under Selle Buyers. rs. BANKING— £ s', d. £ s. d. Australasia New South Wales — 12 2 6 (cum div.) — 33 10 0 New Zealand — 2 6 0 Commercial National of New — 1 0 2 Zealand . ... Union of Australia — 3 16 0 Ltd INSURANCE— 9 16 0 Standard SHIPPING— P. and 0. Deferred 3 2 0 3 4 0 Stock 13 6 1 5 0 TT.S.S. Co. (pref.) ... MEAT PRESERVING— 16 9 Gear ... ... N.Z. Refrigerating — 1 1 0 (paid > ... N.Z. Refrigerating 1 0 0 (cont.i , Southland Frozen 0 9 5 0 9 8 (pref.) 3 16~0 — South Otago Freezing Waitnki Farmers’ — 8 0 0 Freezing LOAN AND AGENCY— 3 15 0 Dalgety _ 9 6 0 Goldsbrough, Mort ... — 1 11 9 Mortgage Corporation N.Z. Guarantee — 0 10 3 Corporation Wright, Stcpheiuon 0 5 3 — (pref.) COAL— Kaitangata (cum 1 0 3 div.) — 1 7 S Westport Westport-Stock ton 12 6 1 3 3 (pref.) — 0 2 5 Puaemiro 12 6 — W00I.LEN COMPANIES - Bruce (ord.) ... 4 ... — 0 14 0 Bruce (pref.) — 1 3 6 Kaiapoi (emit.) 0 6 0 — Kaiapoi (pref. I 0 17 6 — Mosgicl (cum div.) ... 9 10 0 — Oamaru MISCELLANEOUS— 1 0, 0 ■— Anthony Hordern — 1 0 0 Associated News — 1 3 0 British Tobacco Broken Kill Pro- — 2 0 3 prietary (cum div.) Broken Ilill Proprietary (cont., cum 3 0 0 3 1 6 div.i — 1 16 3 BrotVn, Ewing (pref.) 12 0 — Colonial Sugar Co. ... D.T.C. (pref., cum — 42 0 0 ex div.) ... 13 0 — Dominion Fertiliser ... Dominion Fertiliser 15 3 1 5 9 Debs 104 0 0 —

Dunedin Kaikorai Trams 2 0 6 ■ Dunedin Stock Exchange Proprietary 2 0 0 G. J. Coles — 3 13 3 Kauri Timber 1 2 0 — Milburn Lime ami Cement 2 3 6 M'Leocl Bros 38 0 0 — National Electric -- 0 12 6 N.Z. Drug Co • 3 16 6 — N.Z. Karmors’ Fertiliser 1 0 0 N.Z. Newspapers 2 2 0 — N.Z. Pancr Mills — 1 10 0 ‘ Otago Dailv Times ’ — 2 10 6 Recent Theatre ■ 1 1 0 Whilcombe and Tombs _ 3 11 0 AVocdworlhs (ord.) 5 15 0 BREWERIES— New Zealand 2 11 9 2 13 0 Dunedin (cum div.) 1 9 6 “ UNLISTED STOCKS— Woolworl hs • (Sydney, ord.) 7 15 0 8 0 0 AUSTRALIAN MINING— Broken Hill South (£1) ... 5 13 0 Klectrolvtic Zinc (prof., £1) __ 2 0 0 Electrolytic Zinc (ord .‘£11 1 17 6 Mount Lvell (£1) 1 4 6 — Mount Morgan (2s 6d) — 0 16 1 Upper Watut (5s) ... 0 7 9 GOLD MINING— Argo Dredging (Is) 0 1 44 Big River (I 5 ) Brian Born (Is) 0 2 1 0 2 2 — 0 0 34 Gillespie’s (1?) 0 1 2 0 15 Goldfields Dredging (1?) 0 0 24 Kildare (2s) — 0 2 9 King Solomon (1?) ... — 0 0 3 0 Martha (5s) 1 0 — Molyneux River (2s) — 0 2 1 Nokoinai (5s) — 0 2 6 Okarito (5?) , 0 3 0 0 4 0 Paddy's Point (5s) ... — 0 2 6 Sandhills (Is) — 0 0 7 Skippers (Is) 0 0 n 0 0 34 Waipapa Beach (1?) — 0 13 AVaitahu (5s) . 0 1 9 0 2 6 N.Z. GOVERNMENT LOANS(Bonds quoted arc s £100 Bonds.) 34 p.c. Stock, Nov., 1938-52 102 15 0 . 3i p.c. Stock, March, 1939-43 101 0 0 — 3J p.c. Stock, Sept., 1939-43 101 0 0 3, p.c. Stock, May, 1939-52 102 5 0 34 p.c. Stock, March. 1941-43 101 0 0 3j p.c. Stock, Sep., 1941-45 101 0 0 31 p.c. Slock, May, 1941-52 101 0 0 . 34 p-e. Slock, Nov,, 1941-52 101 0 0 _ 4 p.c Bond?, 1957-49 101 15 0 — 4 p.c. Stock, 1937-49 101 10 0 — 4 p.c. Bonds, 1943-46 103 5 0 — 4 p.c. Stock, J943-46 103 5 0 — 4 p.c. Bond?, 1946-49 102 10 0 — 4 p.c. Stock, 1946-49 102 10 0 — 4 p.c. Bond?, 1952-bb 103 15 0 — 4 p.c. Stock, 19bZ-bb 103 15 0

ON NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates n.o-clay) for purchase and sales of foreign o cchanges (all rates subject to alteration without notice) ;— Buying. Selling. Tondon— £100 stg. N.Z I’.T. £124 £124 10/ O D. £123 10/ £124 8/9 Australia — £A to £100. N.Z T.T. £101 £100 10 1 liji— £!■' to £100 N.Z T.T. £90 7/6 £89 Mow York— dollar to £1 N.Z T.T. 3.99JI 3.95$ O.D. 4.00| 3.96i Montreal— dollar to £1 N.Z T.T. 4.00j 3.96| O.D. 4.01 J 3.974 Austria— Schillings to £1 N.Z. " T.T. — 20.77 O.D. — 20.79 Belgium— Belgas to £1 N.Z T.T. 23.341 O.D. — 23.352 Czechoslovakia — Crowns to £1 N.Z T.T. — 95.06 O.D. — 95.11 Denmark— Kroner to £1 N.Z T.T. 18.205 17.895 O.D. 18.265 17.905 France — Francs to £1 N.Z T.T. 60.84 60.01 O.D. 61.29 60.05 Germany— Reichmarks to £1 N.Z T.T. — 9.801 O.D. 9.806 Holland— Florins to £1 N.Z T.T. 5.950 5.800 O.D. 6.010 5.804 JavaFlorins to £1 N.Z T.T. 5.921 5.761 O.D. 5.981 5.765 Norway — Kroner to £1 N.Z T.T. 16.184 15.894 O.D. 16.244 15.904 Sweden— / Kroner to £1 N.Z: T.T. 15.785 15.490 O.D. 15.845 15.500 Switzerland— Francs to £1 N.Z . T.T. 12.579 12.109 O.D. 12.484 12.114 Noumea— Francs to £1 N.Z . T.T. 62.64 58.64 O.D. 63.09 58.70 Papeete — Francs to £1 N.Z . T.T. 62.64 58.79 O.D. 63.09 58.85 Hongkong— N.Z. pence to 1 dollar T.T. 18 57-64 20 25-64 O.D. 18 51-64 20 23-64 India and Ceyon — • N.Z. pence to 1 rupee T.T. 22 9-64 22 57-64 O.D. 22. 3-64 22J J apan— N.Z. pence to 1 yen T.T. — 17 41-64 O.D. — HI Shanghai— N.Z. pence io 1 dollar T.T. 17 17-64 18 41-64 O.D. 17 5-64 is | Singapore— N.Z. pence to 1 dollar T.T. 34 27-64 35 31-64 O.D. 34 15-64 35 15-32