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Greymouth Evening Star, 17 February 1937, Page 8

COMMERCIAL

SYDNEY WOOL SALE [BY CABLE —PBESS ASSN. —COPYBIOHT.J SYDNEY, February 16. At. the wool sales 12,860 bales weie offered: 10,680 were sold at. auction and 1558 privately. Average and faulty descriptions continued in irregular demand at the lower levels reported yesterday, but the market was firm and unchanged for all good wools. American, Japanese and Yorkshire buyers competed keenly. GOLD AND EXCHANGE. LONDON, February 16. Gold 142/04d, dollar 489§, franc 1051. BANK OF N.Z. Mr R W. Gibbs has heen re-elected a director of the Bank of New Zealand as a representative of the shareholders by a large majority. His term of office is for three years from Mai ch 31 1937. Mr. Gibbs has been a director of the bank for 13 years, his associate as shareholders’ representative being Mr. William Watson. The other candidate for representation of shareholders on the board was Mr. M. O. Barnett, of Wellington. The election was conducted by a postal ballot of shareholders.

STOCKS AND SHARES. AUCKLAND, February 17. Sales, morning call: Taranaki Oil 2/9, Taupiri 14/6, Farmers’ Fertiliser 20/-, Gas 21/-, Iron Steel pref. 21/4, Bank of New Zealand 40/6, Broken Hill 84/-, Coles £5/8/-. . Sales, noon: Crown Mines 2/5, Dominion Breweries Rights 10/9, Mt. Morgan 17/1, Sharlands 19/15, Martha 20/3, Macky Logan 23/-, Kauri 23/9, Bank of New Zealand 40/6, 40/7, Zinc 56/3, pref 58/3. CHRISTCHURCH, February 17. Sales: Comm. Bank of Australia 19/4 (4), National Bank of New Zealand 62/-, Bank lof New Zealand 40/6 (3), 40/7 (6), New Zealand Insurance £6 2/- ( 2 ), Goldsborough Mort 38/-, N.Z. Breweries 59/3 (2), 59/1, 58/10, Staples Brewery 35/6, Broken Hill Pty 83/9, Dominion Fertiliser 24/-, General Industries 20/2, 20/3 (2), G. J. Coles £5 7/-, £5 7/6 (5), Morris' Hedstrom 30/-, N.Z. Farmers Co-op. (10/paid) 6d (odd parcel), Woolworth’s (N.Z. ord) £7 3/9, Okarito 4/-, Skippers 31d (2), Mount Lyell 45/7 (2), 45/7id, Mount Morgan 17/-, Kaiapoi Woollen (17/- paid) 14/6. Reported: Govt. 4 per cent, bonds 1946 £lO2. Reported: Selfridge’s (N.Z. 4/- paid, late sale 16th) 5/8. , DUNEDIN, February 17. Sales: Associated News pref. 23/101, Broken Hill Proprietary 84/6, Mort’s Dock 13/6, New Zealand Breweries 59/6, Mount Lyell 45/10, 45/11, Waimumu ll|d. After call: Bank of New Zealand 40/6 (2), Standard Insurance 58/9, Mount Lyell 46/- (2). WELLINGTON, February 17. Sales: Bank of New Zealand 40/6, 40/5, Broken Hill £4/4/6, £4/4/9, 31 per cent. Stock 1938-52 £lOl/15/-, Colonial Sugar £43, Comm. Bank 19/4, Bank N.S.W. £36/5/-, Guarantee Corp. 5/55, Investment Mortgage 9/-, New Zealand Breweries 59/3, 59/1, 58/10, Woolworth’s Ltd. second pref. 26/9, Coles £5/7/6, Mt. Lyell 46/-, Mt. Morgan 17/-. RIMU FLAT DREDGE The Rimu Flat dredge return up to Monday for 131 hours from 55,910 yards was 2430 z. I MATARI AUCKLAND, February 16. The Mataki Gold Dredging Company reports that the return for t'he week ended February 14 was 220 z for 131 hours’ work and 8600 yards.

KING SOLOMON MINE. INVERCARGILL. February 16. “I have no hesitation in saying that I am prepared to recommend the Cabinet to grant £lOOO for further prospecting of the mine, and I have sufficient confidence in my colleagues to believe that they will agree to the grant,” said the Minister for Mines (Hon. P. C. Webb) to the directors of King Solomon Deep Lead, Ltd., at Waikaia to-day. He had just inspected the ■mine and heard representations for a grant or subsidy to allow the company to proceed with further prospecting of areas, which it was believed might yield good results and enable the company to recover its financial position. The Minister announced that the grant would be conditional on the company making available for prospecting work a similar amount of money, and on the repayment of the grant if gold were found, before any further dividends were declared. Mr. Webb instructed the district mining inspector to forward a report to Wellington immediately, and said he would bring the matter before the Cabinet at the first opportunity.