COMMERCIAL

Greymouth Evening Star, 4 July 1938, Page 8

COMMERCIAL

LONDON MARKETS REVIEW [BY CABLE —PRESS ASSN. —COPYRIGHT.] LONDON, July 2. Although Austro-German loans are sharply marked up. it would be wrong to infer that, the city wholeheartedly approves of the debt settlement, reported injhe week-end cables. On the contrary, an influential body of opinion considers it undermines the principles of sanctity of contract, thus discouraging investors from further international lending which some quarters regard as very desirable. It is pointed out that Germany formerly had no difficulty in paying the full contractual rate of interest on the Dawes and Young’loans. while the Austrian Government with more slender resources scrupulously met its obligations. , Although AVall Street resumed its advance after momentary profit-taking, prudent observers are not yet persuaded that the recovery will be lasting. London would feel more comfortable if Wall Street, slackened its tempo, but there are a number of factors inspiring hopes. In generally firm commodity markets, the outstanding lealure has been the rapid advance in the rubber trade. The demand from the Continent, especially Germany, is good. The outlook for base metals is also brighter. Copper sales have shown a marked improvement, and a turther rise in prices is certain. Lead is also higher, and there has been heavy buying of spelter in London during the week. , Rutter has had a difficult market. Stocks showed an increase of 98.900 boxes, and this resulted in hesitance. followed hy a slight appreciation, after which the market turned easy. An appreciable break, however, is unlikeFruit is also easier, the demand slackening off because of competition from soft fruit. STOCKS AND SHARES. CHRISTCHURCH. .Inly 4. Saks: Tochey-s Breweries 31/-. Broken Hill Proprietory 60/3, Electro Zim 43/2 <2). Electro Zinc (Pre!.) 47/-. Broken Hill South 3:1/11. 34/-. Mount Lyell 29/6 CD. 29/9 (.3). Rawang Tin 8/10. Reported: Bank oi New Zealand 12/11. New Zealand insurance (late sale Saturday! 55/6. Now Zealand Insurance 55/6. Zine Corporation (late sale Saturday) 90/-J 2). Woolworth’s (Svdney, Ord.) 20/7. DUNEDIN. July 4- I Sale!?: Bruce Woollen Ord. 7/6. G. -J. Co'es £4/3/-, Mount Lyell £l/9/- (all lute Saturday). G. .1. Coles £4/3/9. Electrolytic Zinc Ord. £2/3/- <•>>• AUCKLAND. .July 1. Sales 10.0 a.m. call: Bank ol New Zealand (2) 13/-. Goldsbrough 28/6. Electrolviic Zinc 14/-. G. •). Coles 83/9. Morts Dock 10/6. Wool worths Sydney 20/7, Broken Hill Prop. 60/3. Mt. Lyell 28/6. 29/9, 30/-. . Sales. 12.15 p.m. call: Commercial Rank 15/10. 15/11. Bank of New Zealand (2) 43/-. New Zealand Insurance 55/6. British Tobacco 47/5. Broken Hill Prop. 60/8. 60/9. Colonial Sugar £46/10/-. Farmers Trading 20/-. G. .1. Coles 84/-. Taranaki Oil 1 1/1. Peters lect 2:i/-. Mt. Morgan 9/11. WELLINGTON. .July 4.

Sales, morning call: Burns Philp £2 11/2 two sales. Mt. Lyell £l/9/9, three sales. Reported: Union Bank £B/7/-. Odd lot. Bank N.Z. £2/2/101. £2/3/-. Throe sales. N.Z. Insurance £2/15/6. N.Z. Breweries £2/:!/-. Two sales. G. J. Coles £4/3/-. £4/3/3. Sales. Noon Call: Bank of Auslra£9/14/6. Broken Hill 60/6, Norih Broken IFII 51/-. Woolworth's Limited Ordinary 20/6.

MINING RETURNS DARRVTOWN GOLD DREDGING The Barrytown Dredge, during June, worked 471 hours, treated 198.000 cubic yards and produced 546 ounces of gold. BLACKBALL. CREEK. Tin- Blackball Creek dredge return was 2Sozs. from 18.000 yards of material, dredged in 120 hours. WHITE'S ELECTRIC. Because of repair work' there will be no wash-up by White's Electric this week. GILLESPIE'S BEACH. DUNEDIN. July 1. The Gillespie's Reach return for the week ended July 1 is tiTozs lor 121 hours' work. GLUT HA. DUNEDIN. July 4. C'lulha wash-up: 130ozs. for 128 hours. MATAKI J UNCTION. MURCHISON, July 4.,, Mntaki Junction return for the week ended Juno 20, was 44 ounces smelted gold for 126 hours, and 20.000 yards dredged.