COMMERCIAL

Greymouth Evening Star, 12 August 1935, Page 9

COMMERCIAL

STOCKS AND SHARES. AUCKLAND, August 12. • Sales: King Solomon 3/8, Golden Crown (1/- paid) 6/9, Rawang 7/8, Dominion Breweries 15/-, National Timber 15/6, Commercial Bank 17-/6, Auckland Gas 26/10, Wailii 36/-, Mt. Morgan 40/6, New Zealand Insurance ex-div. 66/6, National Bank 70/6, South British 96/6, Woolworth’s (Sydney) £5/18/-, Auckland Harbour 1954 £lO7, Government stock 1939-52 £lOB/15/-. WELLINGTON, August 12. Sales: Union Bank £9 10/-, Wellington Gas 40/6, Worksop 2/4, Dunlop 16/-, New Zealand Insurance 66/3, Colonial Sugar £45 10/-, Woolworths £'s 19/-. DUNEDIN, August 12. Sale reported: Wool worth’s (Sydney) £5/19/- (late Saturday). OKARITO AND GILLESPIE’S. DUNEDIN, August 12. Returns: Okarito 29ozs 13dwts for 116 hours. Gillespies: 35ozs. 9dwts for 139 hours. A dividend of 5 per cent, was payable on September 11. The first wash-up of Waipapa Beach is expected n#xt Friday. MOSSY CREEK DREDGE The Mossy Creek dredge return for last week was 70oz ldwt. from 11,385 yards of wfish treated in 137 hours.

ALEXANDER MINES Report for month of July: No. 3 Intermediate Level: A crosscut is being driven out east from this level and is now out 17 feet. Stone 6 inches wide, lying very flat is showing in the face. No. 4 Winze: In sinking this winze trouble was experienced on account of the amount of water making. A pump has been installed and when this is in good running order, better progress should be made. The reef is wider than the winze with only the eastern wall showing. No. 5 Crosscut: The contractors for the month have driven 125 feet, making the total 471 feet from surface. On the 27th instant, water under considerable pressure, burst through the face and allowed the roof to collapse before anything could be done to secure it could be carried out. An attempt was made to

pick the face up again but owing to the quantity of water it had to be abandoned. The crosscut has now been turned 15 feet back from the face and will be driven on the north side past the old face. Stoping has been carried on in No. 4 backs on reef varying from 1 to 4 feet in width. In the underhand stopes below No. 3 level, the stone is 2 feet -wide.

BRIAN "BORU COMPANY. Shareholders have been advised of the decision to raise £3,750 in £1 debentures at 7 per cent, payable in 1938 on the assets of the above Company. A debenture will be issued .for every 144 shares held, but in the event of any shareholders not applying for his quota, the debentures will be issued to shareholders applying for more than they are entitled to. The amount raised is to, be expended as follows: Repairing dredge and putting it in an efficient condition £2OOO, paying off outstanding liabilities £lO4O, working expenses £7lO, £3,750. The circular states: Although the bores which were put down by Mr. Warburton in Brian Boru Gully, above its junction with Germany Gully did not disclose that the ground was payable in the particular area bored, this did not shake the directors’ confidence that the ground immediately in front of the dredge is payable, and the fact that Mr. Hepburn got payable results when dredging ground which had already been dredged and immediately in front of it justifies a further trial of the ground, especially as the two shafts which were partly put down but owing to the influx of water could not be bottomed, showed gold in the wash, as far as water level, it being a fair inference that where the gold is showing in the upper strata it will improve lower down.

WAIHI SHARES TRANSFER. AUCKLAND, August 10. Information forwarded by the local office of the Waihi Gold Mining Company to the Auckland Stock Exchange is to the effect that from to-day, any fresh transfers of the company’s shares will need to be registered in London. As a consequence, dealings in this scrip are likely to be materially restricted. WELLINGTON WOOLLEN CO. The fifty-second annual report of the directors of the Wellington Woollen Manufacturing Company, Ltd., states: The directors are pleased to be able to show a satisfactory result. The recommendation of the board of directors is that a further dividend of 2J per cent, be paid on both the preference and ordinary shares, making with the interim dividend to December 31, 1934, 5 per cent, for the year, and that the residue, £7,230/13/9, be carried forward. The National Expenditure Adjustment Act, 1932, being still operative, a larger dividend than 5 per cent, on the preference scharcs is not permissible. The 12 months’ depreciation of plant and buildings has been met by a transfer of £6,000, whilst their efficient condition has been well maintained from revenue. Expenditure on new plant and extension of buildings, it will be seen, totals £16.654/1/-. Further plant is on order, ami these additions will assist in keeping the company's mills and clothing factory in the forefront of the industry.”