COMMERCIAL Company and Mining News And Reports

Greymouth Evening Star, 25 May 1949, Page 3

COMMERCIAL Company and Mining News And Reports

Australian Woo! Values. —Each of the two Brisbane wool sales in May was worth about £1,000,000 less to graziers than those held in the first half of the present selling year, according to the Woolselling Brokers’ Association. In the May auctions, buyers were able to make their cheapest purchases for nearly 18 months, paying less than £6O a bale for greasy wool for the first time since December, 1947. The price per lb averaged just over 3s Bd. The new level of values was about 13 per cent, under that at the April series, and 26 per cent, under the post-war pinnacle of midJanuary. The average selling price in New South Wales for greasy wool at the beginning of this month was £57 13s a bale, equivalent to 46.5 d per lb. The average price in February, before the storemen'and packers’ strike, was £6l a bale. Over the whole of the 1947-48 season wool averaged £47 3s a bale. A few years ago woolgrowers considered £3O a bale as the peak price.—Sydney, May 24. Puke miro Dividend. —The directors of Pukemiro Collieries, Ltd., have recommended an unchanged final dividend of 6| per cent, for the year ended August 31, 1948. Payment will be made on June 16, when the shares will also become ex dividend. —(P.A.) New Basis for Ampol Issue. —The Ampol Petroleum issue of 176,050 £1 ordinary shares at a premium of 7s will now be offered to preference and ordinary shareholders in the proportion of one for 10 instead of one for five, and closing date foA applications has been extended to August 1. Advice to this effect has been received by the Stock Exchange Association of New Zealand. ’ Kauri Timber Dividend.-—The company has declared an interim halfyearly dividend of 2 per cent, (unchanged), payable June 23.—(P.A.) Austral New Zealand Return.—For the 14 days ended May 21, Austral New Zealand mining operated 226 hours, producing 251 ounces of bullion.~~(P.A.)