COMMERCIAL

Greymouth Evening Star, 12 September 1934, Page 8

COMMERCIAL

SYDNEY WOOL SALES. [BY CABLE —PBEBS ASSN. —COPYBIGHT.] SYDNEY, September 11. At the wool sales to-day, 7,190 bales were offered, and 6,019 were sold, also 853 privately. There was spirited competition from Japan, Yorkshire, and the Continent. Prices maintained the late levels. Greasy merino fleece sold to sixteen pence for eleven bales from Moree. The average price of the new clip wools last week was £l3/4/10 per bale, or 10.05 pence per pound. LONDON SALES. LONDON, September 11. The wool available for the sales on September 18 totals 231,000 bales, including 85,500 new arrivals, of which 41,500 are Australian and 43,500 in New Zealand. The offerings will probably total 126,500 bales. GOLD AND EXCHANGE. LONDON, September 11. Gold 140/31, dollar 5001, franc 75 1-8. CHILLED BEEF. MASTERTON, September 11. Regular monthly shipments of chilled beef are to be made from the Waingawa Works by Messrs T. Borthwick and Sons, Ltd. A shipment of about 300 quarters will be made this week, the meat being drawn from the Manawatu and Hawke’s Bay districts, and killed and chilled at Waingawa. Mr P. O. Borthwick spoke very optimistically regarding the possibility of fostering a commercially successful trade in chilled beef. INVERCARGILL LOAN. INVERCARGILL, September 12. Invercargill has raised locally a loan of £7OOO, at 3J per cent.

STOCKS AND SHARES

DUNEDIN, September 12. Sales reported: Bank New Zealand 47/7, Westport 19/-, D.I.C. pref. 25/-. CHRISTCHURCH, September 12. Sales on ’Change: Commercial Bank of Australia 17/6, 17/7 (3), 17/6; New Zealand Refrig. (10/- paid) 9/1 (2), Tooth’s Brewery 45/10, 46/- (2), Allied Motors 3/6, British Tobacco (cum. div.) 88/-, Dunlop Perdriau (cum. div.) 20/4 (2), Brian Boru 1/4, Glenroy 1/2, Waitahu 4/4, Worksop 1/11, Skippers 7d. Reported: Bank of New Zealand (late sale 11th) 47/6. WELLINGTON, September 12. Sales: Bank of N.S.W. £3l/17/6, Westport Coal 19/-, Four per cent. Inscribed 1946, £lO7/15/-; Bank of New Zealand 48/-, British Tobacco 38/-, Nokomai 4/-. AUCKLAND, September 12. Sales: Renown new pref. 1/6, guarantee 4/8, Refrig, con.' 9/1, Commercial Bank 17/2, 17/4, 17/5, Gas 26/6, Broken Hill 50/-, Reserve Bank £6 9/3, Harbour 5?. £lO5, Mt. Eden £lO5.

ALEXANDER MINES LTD. The annual general meeting ol shareholders of the Alexander Mines Ltd., was held at Reeftori on Saturday evening. Thirteen sharehold ers were present and 58 shareholders represented by proxy, making a total representation of 33,189 shares. The Chairman of Directors, Mr D. A. MeVicar, presided. The directors’ report and balance sheet, and statement of profit and loss account for the year ending May 31 were received and adopted. Messrs S. A. A. Fry and F. W. Manton, the retiring directors, were re-elected, unopposed. Also Mr W. B. Auld and Mr H. Cooper were re-elected auditors, unopposed. The remuneration of the directors and auditors was fixed at the same as last year. A proposal from a. shareholder made at the previous annual general meeting, suggesting that the Company’s shares should be subdivided into smaller denominational values of either 5/or 1/- shares was brought before this meeting, but it was carried unanimously that no action be taken. Mr S. A. A. Fry suggested that during the incoming year, the directors should consider the question of installing a diamond drilling plant to enlarge the scope of prospecting operations in the mine, which would be more expeditious and cheaper than by driving cross-cut. A discussion arose as to the question of defraying the capital expenditure recently incurred in the erection

of the hydro-power plant and likewise the installation of rock drilling machines. It was proposed that it be a recommendation to the directors that three calls of 6d pei’ share each should be levied on the contributing shares to help to pay for the capital expenditure referred to. This resolution was carried on the casting vote of the Chairman. A further recommendation to the directors was to the effect that Mr D. A. McVicar’s services to the Company as Chairman of Directors fox’ the past yeai’ should be specially recognised.

A vote of thanks was accorded to the directors, the mine manager and the staff officials for their services during the past year. At the conclusion of the annual meeting, the usual monthly meeting of directors was held, and the ninth call of 6d per share was made on all the contributing shares of the Company, and becomes payable on Thursday, September 27.