COMMERCIAL

Grey River Argus, 30 April 1932, Page 8

COMMERCIAL

(Per Press Association). AUCKLAND, April 29. Sales: King Soloman Is Id; Moturoa Oil Is 9d; inscribed 4| per cent. (1939) £93; Loan per cent. (1937) £99; National Insurance Ils 3d. INDIAN LOAN OVERSUBSCRIBED. (British Official Wireless.) RUGBY, April 28. The outstanding feature in the stock markets to-day, was the start of dealings in the new India 50 per cent. £10,000,000 loan, which opened at a premium. Thc loan was over-sub-scribed by a large margin, and was open for only one hour yesterday. It is understood that the basis of allotment among larger subscribers was about 44 per cent.. slightly better treatment being given to small applicants. Those who applied for £5OO received £3OO, and those applying for £lOOO received £5OO. There was ;today a strong demand for the issue, which closed at 7-8 premium. SIR T. WILFORD’S PROMISES. LONDON, April 28. Sir T. M. Wilford in a speech at Leeds, mentioned that a scheme was being considered both here and in New Zealand to establish a large dignified clearing house in each of New Zealand’s cities, Auckland, Wellington, Christchurch and Dunedin, to keep British agents and products continuously in touch with the New Zealand public. MINING NEWS. The Golden Progress Quartz Mining Company, Otago, reports that plates and boxes have been partially cleaned for a return of 106 oz. of gold and one ton of concentrates obtained from 80 tons of quartz. The stoping has not Leon proceeded with. The quartz was crushed on account of development operations. The Golden Dawn Mine has telegraphed the Wellington Stock Exchange of follows:— 398 tons, treated, covering 15 working days ending- April 18.' Battery assay value at. 92 per cent., extraction £ll2-0; bullion recovered £B4O, with further recovery to come. Last consigniiient bullion realised £5/13/- per gold ounce. The Golden Terrace Extended Gold Dredging Company, Southland, reports a wash-up of 660 z. 6dwt for four, days ’ dredging in solid ground. The wash is improving, and ' much higher returns aro anticipated.