DUNEDIN STOCK EXCHANGE.

Otago Daily Times, Issue 12415, 26 July 1902, Page 10

DUNEDIN STOCK EXCHANGE.

The market wa3 a good deal easier than usual yesterday, and several of the,prominc-nt stocks showed a tendency to drop back. The explanation of the sudden fall in First Chanccs cume to hand in the morning, when the Exchange was notified that the report of tlie dredgemaster stated that tho mats looked very poor, evidently indicating that he was o2 the gold again. Tho total return for the week is 171oz, but this will probably cause a further ■weakening, as the bulk of the gold was got previous to Tuesday last. A large number of Alexandra Leads changed hand 3 in the-after-noon, but tlie prices showed a weakening. The return will be for a short week, but is expected to prove satisfactory for the time worked. Eight sales were recorded at lis 3d and ono at lis 7}d, -after which buyers "closed at lis Gd, and sellers at lis 9d. Bendigoes wero also weaker, the.cause being no doubt due to the uncertainty of tlio company's financial position. The 'shareholders are responding move freely now to the levy, and it is quite likely that reconstruction will bo averted. Sales were made a' '3:1. 8s 6d, 8s 4Jd, and 8s fd, and further inquiries were made at 8s Gd, but sellers c.osea js. One lot of Duustan Leads was taken up at 3a 6d, and more shares wero in the bioH-o' et 3s 9d, but buyers closed at 3s 3d. Only one transaction was recorded in First Chaiites, aparcel being taken iip at 18s, with additional buyers at 17s, and sellers at 20s. Golden Rivers were a little easier, and five sales took place at 3s 9d, at which figure more shares were wanted, but sellers would not come below 4s. Junction Electrics were a shade easier, anl so were Monte Christoes, but North Beaches were decidedly firmer. ' Rise and Shines wer.e inclined to ease, as. also wero Sailor's Bends, sales of which were effected at 30s 3d and 30s, a further selling offer of 30s Sd meeting with no response. ' Tcviots were steady, and Unity's recovered to a certain extent. Two lets of the latter changed hands at 15s Gd, one at 15s 9d, and one at lGs, while more shares were wanted at tlie Inst-m'entioncd price, butsellers closed at lCs Cd.

Sales we're made yesterday at- the following prices:—Alexandra Lead, lis !)d and lis 7sd; Bendigo, 8s Sd, Ss Gd. 8s 4Jd, and 8s 9d; Duustan Lead, 3s Cd; First Chance, 38a; Golden yjivor, 3s 9d; Sailor's Bend, 30s. 3d and 30s; SJhUv, 15s 6:1, 15s a 9d, and lGs, " The following are yesterday's latest quotations, subject to the usual brokerage:— Alexandra Lead—Buyers lis Gd, sellers lis 9d, Alpine No. 2—Sellers £1. Bendigo-Buyers 8s 6d, sellers 9s. Blackwater River—Sellers 3s dis. Clyde—Sellers 7s Cd. Davis's Bend—Buyers. Gs, sellers 4s dis. Dunstan Lead—Buyers 3s 3d, sellers 3s 9d. Endeavour—Sellers 8s 9d. Enterprise—Buyers £1 5s Cd. sellers £1 is Gd. First Chance—Buyers 173, sellers fl,. Gibbston—Buyers'2s, sellers 2s Gd, Golden River—Buyers 3s, sellers 4s. Great Woodstock—Buyers Is Gd, sellers 4s. Hartley and Riley—Sellers £2 10s. Junction Electric—Buyers 13s Cd, sellers 14s. Kelly and Casey—Buyers 2s 9d, sellers Gs. Lady Roxburgh—Buyers 4s Cd. sellers 3s dis. Leviathan (pref.)—Sellers 5s 9d. Manuherikia—Sellers :£ll2s Gd. 0 Meg and Annie—Sellers 15s 3d. Molyneux Kohinoor—Sellers 4s dis. Monte Christo—Buyers lGs 3d, sellers 18s. Mosquito—Buyers 15s, sellers 19s Gd. New Alpine Consols—Sellers l!)s. New Haluvay House—Buyers Is Gd, sellers 5s Gd.

North Beach—Buyers Ms fld, sellers lGs. No To-.vn Creek—Sellers £1 14s Cd. Old Dunstar.—Buyers 3s 3d, sellers 3s 9d. Otago—Buyers 12s Cd, sellers 15s Gd. Pactolus—Buyers £3 1-ls. Riley's Beach—Sellers par. Rise and Shine—Buyers £14s, sellers £1 Gs. Royal Maori—Sellers 3d. ' Sailor's Bend—Sellers £1 10s 3d. T'eviot—Buyers 5s 3d, sellers 5s 9d. Trafalgar—Sellers £1. Unity—Buyors lGs, sellers lGs Gd. Waimumu Central—Buyers Gs. Miking. Alpine Extended—Buyers 3s 3d, sellers 5s Gd. DUKE OF WELLINGTON GOLD DREDGING COMPANY. The adjourned extraordinary general meeting of the Duke of Wellington Gold Dredging Company was held yesterday afternoon. Mr H. Crust (chairman of directors) presided, and there were about a dozen shareholders present. The Chairman said that the meeting had been adjourned from tho 30th May in order to seo whether by the issue of debentures the company could carry 011. Shareholders and others had been approached, but without sufficient success, and consequently their prospect of carrying on was 110 better than when they last had met. The promises mado would have "given them nearly enough money to complete their contracts, but it would have left them without funds with which to start working, and under those circumstances it would have been folly to continue. He would therefore move—" That it has been proved to tho satisfaction of this meeting that tho company cannot, by reason of its liabilities, continue it business, and that it is advisable to wiud up the same, and accordingly that tho company bo wound up voluntarily under 'Hie Companies Act, 1682,' and its amendments." Mr R. T. Wheeler, jun., iu seconding tho motion, said that the directors had done their best to make Arrangements to carry on, but the state of the mining markot at the present timo prevented their efforts being, successful. The public had been hit so heavily that most people had made up their minds to lose what they had already invested rather than venture any more. Personally, lie thought that this was a. pity. Ho had always gone on the line of venturing a little more in order to have a run for his money. Nothing had been taken out of tho claim, and it was as good as ever it had been; but public opinion bad undergone a decided change, and that accounted for the present condition of the company. He therefore would reluctantly second the resolution, and at the same time lie would like to say that the Major Robin and Lord Nelson Companies were anxiously awaiting the result, of the Duke of Wellington's operations. It might therefore be possible for the liquidator to arrange a. reconstruction scheme from amongst the shareholders of tho three companies. If the dredge could be cot clcar there might be some of them

willing to risk a £10 note, and it might suit them. Seeing they could not get sufficient support from (lioir own company, they might get it from the three companies, but it would be quite a new arrangement, and under another name. , The motion was put and carried without further discussion. Mr LeSlie v:ns appointed liquidator at a remuneration of £25, and the meeting terminated. Those preSefit remained behind to discuss Mr Wheeler's propoialMor reconstruction. 1