THE SHARE MARKET.

Otago Daily Times, Issue 15826, 26 July 1913, Page 12

THE SHARE MARKET.

DUNEDIN STOCK EXCHANGE. Prices of the majority of stocks quoted during the past week have been well maintained, and iu a number of cases a marked tinning tendency has been apparent. The number erf linas quotod has perhaps showed a slight decrease, but a fairly largo number of sales have been recorded and reported. Generally speaking, the dredging market has remained very dull. A considerable improvement has taken place in Electric shares in consequence of tho largo return of 103oz reported at tho close of last week. At Iho beginning of this week there were buyers at 4s, with sellers at 5s 6d. A report came to hand yesterday that the dredge had won 148ozo for 122 hours' work, and this caused prices to rise to 5s and 5s 9d buyer and seller respectively, while a sale was effected at 5s 6d. Hartley and Riloys hate had buyers at 3s 3d, with a seller on Monday at 6s. There were consistent sellers of Rise and Shines at £1 14s, with buyers on most days up to £1 11a. Island BJocks wore offered at is 9d, and Manuherikias at 6s, but no buying oilers for these lines were recorded.

In the mining stock division the most noticeable feature has been the firming of tho larger Auckland lines, notably Waihis and Waihi Grand Junctions. The firming in Waihi stock is probably due to favourable developments in the Dreadnought lode' at the mine. In the south crosscut this lode is 61t wide, and the value per ton was reported on Tuesday at £12 10s. The market opened on Monday at £2 4s 9d buyers, and £2 5s 3d sellers, while business was transacted that clay at £2 4s 9d and £2 ss. Prices .ros3 rapidly until Thursday, when buyers were quoted at £2 7s 9d, with sobers asking £2 Bs, a sale being effected at £2 7s 9d. The market was somewhat easier yesterday, when a sale was recorded at £2 7s, and the closing quotations were £2 7s 3d and £2 7s 6d, buyer and seller respectively. Waihi Grand Junctions were quoted on Monday at £1 Os 9d buyers, and £1 Is sellers. .Parcels were sold on Tuesday at £1 Is 3d and £l Is Id. and on Wednesday three sales were effected at £1 Is 3d. A sale was reported yesterday at £1 2s, and tho market closed with buyers at £1 Is lid and sellers at £1 2s 3d, Ross Goklfields have become slightly easier during the week on account of the late heavy rain having retarded developments ■it the mine. Progress mines have shown no fluctuation, ■yytth-' buyers at 8s and sellers at 9s. Talisman Consolidated were unquoted until Thursday when a buyer appeared at £1 19s 6d, with a seller at Is more. Among the smaller Auckland mining stocks Waiotuhis showed some activity, prices advancing slightly in consequence of the improved outlook at the mine. A sale was reported yesterday at 2s 2d, with further buyers in tho market up to 2s. and sellers at 2s 4jd. New Sylvias and Saxons also had inquiry at recent prices.

The business transacted in investment stocks shows it falling off from that of the previous week, but prices have been well .maintained, and in some cases lave improved. National Banks have been in demand up to £5 Is. with sellers from £5 2s to £5 3s. Buyers of Union Banks were quoted up to £57 10s, with a seller on Wednesday at £58 10s. The various insurance lines have been in firm request, but few selling quotations have been recorded. Buyeis of National Insurance advanced to £2 5s 9d, and Staifclard Insurances were wanted at £1 lis, but no sellers declared. The directors of the Union Steam Ship Company notified shareholders on Thursday of reconstruction proposals which provide for the liquidation of the present company and the formation of a new com jiany w'it'h n capital of £3,000,000 in shares of £1 each, of which 2.000,000 will bo ordinary shares, and 1,000,000 will be s'? per cent, cumulative preference shares. Shareholders have been familiar with the proposals contained in the circular, with the exception of the intention of the directors, expressed ■ therein, to reserve 1,000,000 ordinary shares for future issue. The notification . has had no influence on the market, which. closed yesterday with buyers at £2 3s and fellers at £2 3s 6d. Sales were reported during the week at £2 3s and £2 3s 3d. Wc<-tport Coals have become scarce, and prices nave firmed w £1 8s 3d buyers, and £1 8s 6d sellers. A sale was reported yesterday nt £1 8s 4id. National Mortgages have been inquired for at £3 13s Gd. without sellers. There have been sellers of Mosgiel Woollens at £3 12s 6d, with buyers offering up to £3 Ik New Zealand Drugs have shown no variation at £2 4s 6d (buyer) and £2 5s 6(1 (seller). Sales-Electric, 5s Gd; Waihi, £2 7s. Sales Reported.— Waihi Grand Junction, £1 2s; Waiotnhi, 2s 2d; Wcstport Coal, £1 8s 4Jd. Tho following- are yosl-crda.v's latest quotations, subject to the usual brokerage ;-- Dredgikc Stocks Electric—Buyers ss, sellers 5s 9d. Manuhorikia—Sellers 6s Rise and Shine—Sellers £1 14s. Mining Stocks. Blackwator Mines-Sellers £1 Is. Kofs CJokllielfls-Sellors 9s Progress Mines of N.Z.—Buyers Bs, scl'crs 9s. New Sylvia-Buyers Is Id, sellers Is 3d. Saxon—Buyers od, sellers 9d. Victoria—Buyers 6d, sellers 7d. Talisman Consolidated—Buyers £1 ]9s 6il. Waihi-Buycrs £2 7s 3d, sellers £2 7s 6d. Waihi Grand Junction—Buyers £1 !s lid, sellers £1 2s 3d. Waiotnhi-Buyers 2s, sellers 2s 4J:I. New Waitaia—Buyers Is Id. Investment Stokkh. National Bank—Buyeis £5 Is, seller* £5 2s 6d. National Insurance—Buyers £2 5s Pd. Standard Insurance—Buyers £1 Us.

Wcstport, Coal Co.- Buyers £1 8s 3d, U.S..S. Co -Buyers' £2 h, sellers £2 3s Od. Wffitport Coal Co.—Buyers £1 8s 3d, sellers £1 8s 6d

Empire Buildings-Sellers £1 2s. Kaiapoi Woollen Co.—Sellers £5 3<=. Mosgiel Woollen Factory-Sellers £3 l?e Cd. N.Z. Drug Co. (£2)-Sellors £2 5s (id. N.Z. Portland CVmont—Buvcrs 15s 3d, sellers 16s 9d. Wright, Stephenson - Buyers £5 17s, AUCKLAND STOCK EXCHANGE. {Per United Press Association.) AUCKLAND, July 25. The, following sales were made on tho Auckland Stock Exchange to-davr—Waihi. 46s 3d to 47s 3d; Grand Junction. 21s 9d to 225; Northern Coal, 10s 3d; Wiseman ami Sons, 19s.

WELLINGTON STOCK EXCHANGE. (Pee United Press Association.) WELLINGTON, July 25. The following eale was made ou the Wellington. Stock Exchange to-day:—New Sylvia, Is 3d. Sales reported were: Waihi, 475; Wellington Investment Trust and Agency Company, 12s.

CANTERBURY STOCK EXCHANGE. (Per United Press Association.) CHRISTCHURCH, July 25. Tho following saJc6 woro mado on tho Canterbury Stock Exchange to-day :—Union Steam Ship, £2 3s 3d; Talisman, £1 19s 7id; Waihi Grand Junction, £1 Is 9d; Mason aiid Struthers, £1 3s.

LONDON SHARE MARKET. Press Association—By Telegraph—Copyright,

LONDON, July 21 Waihi: Buyers, 45s 7d; sellers, 46s lOd. Waihi Grand Junction: Buyers, 21s; «!■ Icrs, 225.