COMMERCIAL

Greymouth Evening Star, 3 September 1934, Page 8

COMMERCIAL

STOCKS AND SHARES. VEr IMB9 ASSOCIATION.] CHRISTCHURCH, September 3. Sales on ’Change: Goldsbrough Mort. 31/6 (2), Government 4 .per cent, inscribed stock, 1940, £lOB/2/6, Broken Hill Proprietary 49/6 (2); Dunlop Rubber (cum. div.) 20/7, Brian Boru 1/5 (2); Gillespie’s Beach 1/11, Goldfields Dredging 1/-, Maerewhenua sd, Mahakipawa 1/- (7) ! Mahakipawa (pref.) 1929 issue 1/4J, Mahakipawa pref., 1930 issue, 1/3J (3); Moonlight-Nelson Greek 3Jd, Nokomai 3/2 (4), 3/4 (2), B/5 "(3), 3/6 (4). Reported: Golden Point (late sale Ist) 2jd, Mahakipawa (late sale Ist) lid < 2 >- ... WELLINGTON, September 3. Sales: Colonial Sugar £66/7/6, British Tobacco 37/3, Mahakipawa ibid, New Zealand Breweries 47/-, Mataki Goldmining 2/4, Mt. Lyall £1 0/5. AUCKLAND, September 3. Sales: Refrig. con. 8/11, Alexander Mines 14/11, Government stocks 1949 £llO, 1955 £llO/15/-. DUNEDIN, September 3. Sales: Goldfields lid. Reported: New Zealand Breweries 47/-, late Saturday: South Otago £7 2/-, Bank New Zealand 47/6. SYDNEY, September 3. Stock exchange sales: Bonds 4 per cent. 1947 £lO9 15/-, 4/57 £lOB 5/, 4/50 £lO9, Commercial Bank Sydney £l7 Union Bank £9 10/-, Tooths 45/9, Anthony Horden 14/3, Australian Glass 54/6, Broken Hill Proprietary 49/9, Dunlop Perdiau £1 0/7id, Goldsbrough Mort 31/6, Howardsmith 15/9, Meggitt’s 20/71d, Morris Hedstrom 16/lSd. GOLDFIELDS DREDGE DUNEDIN, August 31. The Goldfields Dredging Company reports a return for the period ended August 31 of 19oz 7dwt for 200 hours. Dredging was on a pug bottom at a depth of 16 feet.

KING SOLOMON . INVERCARGILL, August 31. The return at the King Solomon mine this week was 61oz sdwt. BRIAN BORU DREDGE. . The Brian Boru dredge last week obtained 22ozs. 7dwts. of gold for 123 hours’ dredging. STAFFORD SLUICING. The Stafford Sluicing Company’s return for the past three weeks (approx. 13| shifts) totalled 16oz. lldwts 7gr. GILLESPIE’S BEACH. The report of the directors, to be presented to the annual meeting of shareholders of Gillespie’s Beach Gold Dredging Company, Ltd., on September 27, states that dredging commenced in January, the first wash taking place on January 19. For the •first six months operations were much retarded on account of the dredge having to work through growing timber, which resulted in poor time and yardage. The dredge is now in ground that is practically clear of growing timber, and this clear ground extends over the greater portion of the claim. For greater efficiency a large motor has been installed at the port pump, as extra water is required on the boxes when putting through a good yardage. During the six months to June 30 steady returns were maintained, the total gold won amounting to 1014.40 z., which realised £7872/6/2. The sum of £632/4/3 was paid to the Government as export tax. The company has pegged off an additional area of 140 acres, and if this proves to be of good values it will have a proposition to place before shareholders, respecting the advisability of placing another dredge on the claim. If this eventuates it could be floated as a separate company, of which the present shareholders would be the vendors, and thus, would not retard any dividends forthcoming from the company. As there is ample electric power, a second dredge could be placed upon the claim at a reasonable cost. The directors feel confident that much better returns will be forthcoming. For the last three months the dredge has been working an area outside the ordinary claim, and the returns from this ground, although not great, were too good to leave. The directors expect to be in the ordinary claim in about six weeks.

Net income is shown at £7272/18/11 and the profit was £4142/18/11. The credit balance in the profit and loss account is £2,138/15/4. The liabilities are: Nominal capital, 700,000 shares Of 1/- each, £35,000; sundry creditors, £686/11/1; directors’ fees unpaid, £275. Assets include: Cash at bank, £2,220/3/10; gold in transit, £1065/19/4; stores on hand, £l4B 17/8; mining property, £6573/4/8; dredge and. plant, £16,827/1/7; hydro-electric generating plant, £10,794/13/7; huts, £437/5/9.