LATE COMMERCIAL

Evening Star, Issue 22618, 9 April 1937, Page 10

LATE COMMERCIAL

NOKOMAI’S PONTOON LAUNCHED. The secretary of the Nokomai Gold Mining Company Ltd. reports that the pontoon. witlT'the assembled two 12in gravel pumps, was successfully launched yesterday and moored in its position alongside the face. , The' pontoon is 30ft by 25ft, and, with the machinery and gravel pumps erected, weighs approximately 75 tons. The work of connecting the 100 ft ox five-gauge 15in pipes to the short pipe line is now being done by the claim hands. . , , . . ~ Overhead high-power electric cables are being fitted to the shore eonhections, and it is anticipated that a start will he made in a week or two sinking the elevator for the paddock, which has already been stripped to _ a depth of 50ft. As soon as sinking is completed, the gravel pumps will he started, working in conjunction with the elevator. BANK OF ENGLAND RETURN. press Association—By Telegraph—Copyright LONDON, April 8. (Received April 9, at 1 p.m.) The following is the Bank of England return: — —lssue Department.— Note issue in circulation £470,000,000 Bank department ,43,900,000 Government securities Other securities 3,100,000 Silver coin —Banking Department.— • ■B-efc . ... 3,100,000 Public deposits ... ... .*• ••• 24,500,000 Bankers' deposits ... 900,000 Other amounts ... 38,400,000 Government securities ... ... 111,100,000 Discounts and advances 7,400,000 Other securities ... ... 22,300,000 Notes and coin 44,600,000 Ratio of reserve to liabilities is 28.28 per cent. The Bank of England discount rate remains unchanged at 2 per cent. .WHEAT AND FLOUR. Press Association—By Telegraph—Copyright LONDON, April 8. (Received April 9, at 1 p.m.) Wheat cargoes are steady. Parcels are occasionally lower. Futures; London—March, 61s lOd; May, 51s 5Jd. Liverpool—May, 10s 3|d; July, 10s 2 5-8 d October, 9s 6Jd. The spot trade is steady to firm. Australian, ex sjjip, 52s 6d. - Flour is firm. Australian, ex store, 355, 365. . , r Chicago wheat quotations:—May, loa 7-8 cents per bushel; July, 125 3-8; September, 121 5-8. NEW GUINEA GOLD SHARES. Press Association—By Telegraph—Copyright LONDON, April 8. (Received April 9, at 2 p.m.) New Guinea Gold shares are quoted at 2s 6d. METAL MARKET. Press Association —By Telegraph—Copyright LONDON, April 8. (Received April 9, at noon.) Copper: Standard, £64 Is 3d per ton; forward, £63 4s 4Jd. Electrolytic: Spot, £69; forward, £7l. Wire bars, £7l. Lead: Forward, £27 6s 3d; spot, £27 2s 6d. ' Spelter; Spot, £2B 2s 6d; forward, £2B 6s 3d. Tin: Spot, £275; forward, £272 ss. Silver: Fine, 21d per ounce; standard. 22 H-16cL BRADFORD MARKET. Press Association—By Telegraph—Copyright LONDON, April 8. (Received April 9, at 12.40 p.m.) Bradford taps: Merinos, seventies, 40d; sixty-fours, 68Jd; sixties, 37id; cross-breds, fifty-eights, 34d; fifty-sixes, 32d; fifties, 27d: forty-sixes, 24id; forty-fours, 24d (the last two are nominal). Topmakers are quoting higher rates, but there is little business. LONDON STOCK EXCHANGE. A STEADIER TONE. Press Association—By Telegraph—Copyright LONDON, April 8. (Received April 9, at 1.30 p.m.) The nervousness with which the stock markets opened diminished during the day. Most sections closed firmer. Gold shares were an exception. Commodities showed a firm tendency. SALES ON ’CHANGE :.TfflS DAY, Wellington. Wellington Investment, 9s fid; Broken Hill, 33s 9d; Mount Lyell, 45s 6d; Bank of New Zealand, 445, 43s 9d; Coles, £5 0s 6d; Sharland (ord.), 19s; Woolworth'Ltd. (Rights), 90s. Cnristchurch. Government 4 per bent. Inscribed (1952-55), £lO3 ssj Commercial Bank of Australia, 19s 6d; E.S. and A. Bank (cum div.), £6 11s; N.Z. Breweries, 59s (2); Broken Hill Proprietary, 82s 9d; Colonial Sugar, £4o (3); Electrolytic Zinc (ord.), 59s 6d, 59s 9d, 60s: Electrolytic Zinc (pret.), 61s 3d, 61s 6d, 61s 7d; General Industries, 20a sd, 20s 6d, 20s 8d (2); Wilcox, Mofflin, 13s 2d; Mount Lyell, 46s 6d, 46s 9d, 47s 3d, 47s 6d, 47s 9d, 48s; Mount Morgan, 17s 6d (3). Reported: Woolworths (N.Z., ord.). £7 10s; Waihi Grand Junction, 4s. Unlisted : Woolworths (Sydney, rights), 90s 3d. Auckland.—First call: Taranaki Oil, 4s 2d; Mount Lyell, 45s 6d, 45s 9d, 465; Tooth’s Brewery, 55s lOd; Australian Glass, 935; Broken Hill. 83s 4d; Mount Morgan, 17s 9d, 17s Bd. Noon call: Westport-Stockton, 2s Id; Kaiapoi Woollen (cont.), 5s sd; Consolidated Brick, 9s Id; Rawang Tin, 12s 6d; Taupiri, 16s 9d; Dunlop, 20s 9d; Cement, 355: Bank of New Zealand, 43s 7d; Electrolytic Zinc, 60s 9d; Broken Hill, 83s 6d; Australian Glass, 935; Coles, £5 Is; Woolworths (West Autralia), £7. Our Auckland correspondent telegraphs:—Business this morning was quiet, with only amoderate list of sales at the first call. The decline in metal prices has had the effect of depreciating still further such popular issues as Electro Zinc and Mount Lyells. For the Zinc ord, best buyers stopped at 595, and prefs. at 60s. Lys!]§ fell $ reported §al§ afe 45$ 6d, -a

drop of Is 3d. Fresh buying strength then developed, and sales in the room were at 45s 6d, 45s 9d, and 465, with more buyers at the higher figure and sellers back at 46s 6d. Mount Morgans were steady, with business at 17s »d and 17s Bd, hut Broken Hills slipped further, with a sale at 83s 4d, and a later market between 83s 3d and 84s. Amongst local issues Taupiris and Northern Steam were closer to business, the former with quotations from 16s 9d to 17s, and the latter from 4s lOd to 4s lid. Buyers for Farmers’ Trading dropped back to 21s fid, with sellers still at 235. P. and 0. deferred stock was in demand at 435, with sellers at 455. Government stocks were firm, with plenty of buyers and few sellers.