COMMERCE AND FINANCE

Otago Daily Times, Issue 21144, 30 September 1930, Page 13

COMMERCE AND FINANCE

LOCAL AND OVERSEAS MARKETS.

THE SHARE MARKET. DUNEDIN STOCK EXCHANGE. Business was done on the Dunedin Stock Exchange yesterday in' Mahakipawas, a parcel changing hands at 6d. Buyers were offering 7d for these shares at, the close of the market, but sellers would not accept further business at less than 10d; There was also a reported sale of Okaritos at 7e 7d. The best offer later was 7s ■ 3d, • sellers asking 7s Bd. King Solomons were askfid for at 9d, the best Belling quotation being Is. The demand was quiet in the other sections. Sale: Mahakipawa, fid. Sale reported: Okarito, 7a 7d.. The following are yesterday afternoon’s buying and selling quotations,; which are subject to the Usual brokerage:— ... •, . BANKING. Bank .of Australasia—Sel £ll 17s. ;Bank-of New South'-Wales—Sel■ £3l. ; Bank ,of .New Zealand—Sel 53s fid. Commercial Bank—Buy 14s 9d. sel 15s 6d. . _ ’ E. 3.. and A. , Bank—Sel £5 Bs. National Bank of New Zealand —Sel £5 2a. ' INSURANCE. , . National Insurance Co.—Buy 13s Bd, sel 14a. New Zealand Insurance • Co.—Sel 405.South - British Insurance Co.—Sel 55a 9d. Standard Insurance SHIPPING, Huddart, -Parker (ord.)—Sel 325, Huddart, Parker (pref.)—Buy 19s 6d. P. and O. Deferred'Stock—Sel 44a. U.S.S. Go. (pref.)—Buy ,20s 3d, V COAL. Kaitangata—Buy 3s fid dis, Westport Coal Co.—Sel 30s 3d. LOAN AND AGENCY. ; Dalgety and Co.—Sel £8 2s. Gololjbrough, Mort—Sel 19s. National. Mortgage (B issue) —Sel. 355, Perpetual Trustees—Buy 68s. Wright, Stephenson (ord.)- —Sel 19s. Wright, Stephenson (pref.)—Buy 15s. MISCELLANEOUS. British Tobacco—Buy 28s 6d,” sel 30s. Brown, Ewing (pref:)—Buy 20s. ..Bruce Woollen Co. (ord.)—Buy 9s. fid. ; -Crystal Ice, Co. —Buy 21b, . eel 235. 1 D.I.C. (pref.)—Buy 20s fid. ■ j .Dominion Rubber—Sel 15s, j ..Milbnrn Lime and . Cement—Sel .'32s.' ' , Mosgiel Woollen Co.—Buy £6- 10s. National Electric—Sel 9a fid. 1 New Zealand Drug Co;—Buy 575. New Zealand Fanners’ Fertilise!—Sel 18s.. .. .. - BREWERIES., 'New'Zealand Breweries, Ltd.—Buy 425, •el :455. ... . .. . ... .' New ■ Zealand Breweries Debent.—Buy 21s. .' ■* ;; Dunedin Brewery—Sel 265. ■ : mining. , . Kawarau Q.M.'Co;—Sel'sd.. ■ / Waihi Grand Junction—Sel. 2s 2d. Electrolytic Zinc (pref.)—Sel 17s 9d. -Electrolytic Zinc, (ord:)—Sel 15s: . Mount Lyell—Sel 17* 6d. • . : Mahakipawa—Buy7d, sel lOd. .-j-"-.KildarC—Buy. 8d 4 sel. Is-Id. ■■ • ■Okarito-rßuy 7s . 3d, sel 7s Bd. - Paddy’s -Point—Buy 2« 6d, sel 3s 9d, Cornish" ed: ; . King Solomon—Buy tld/sel Is. ■ _ WAR BONDS. ; 44 per, cent. Bonds," 1938—Sel .£IOO 'ss. • 44 .per; cent. per * cent.' Inscribed,' I93S—Sel-£IOO ■ sa. '44 per cent. Inscribed, 1939—5 el £IOO 6s. , ..;. Vv- - ' - ... i: ■■ ■ 5J per cent.-Bonds, Buy £99 2s 6d. ■ , -• > - exchanges! ' (Fra UntteU Press Associatios.) ■ The - following - business was - done on 'Changes yesterday:— Auckland.—Sales: > . Inscribed ’ 'Stock- ' (1938:)., 44 per cent.-.- (late sale; f 100; Commercial Bank 'of Australia, 15s, 15a 3d; National Timber, 8a 6d (two parcels); Kempthorne,. Prosser, 57s fid; Waihi, 14s lid. / . Wellington.—Sales reported; Commercial. :Bank of .Australia/..(0rd.), :J4s 9d; Auckland- Gas Company, £1 3s-9d; Union Bank of Australia, £8 13s 6d. - Christchurch.—Sales: Now Zealand Government 44 per -cent. ■ Bonds . (1938) : ; £99 15s. New Zealand Government 5J per cent., Inscribed (1937),-. £93' 2s" 6d; P. ami. O. Deferred 1 ; Stock, 43s fld; - Maha-' kipawa Goldfields.'fiAd, 7d' 74d, Bd, BJd, 9d,?-fi4d;Tsix,; 9d.——Sales re-, ported; Union Bank of Australia, £8 llßj P. and 0, Deferred "Stock; 435;

r '/ MINING. ,r' WAIHI; REPORT. The following'is the latest report received from-the Waihi Gold ‘Mining i Company:— No. 13 Level.—Martha lode in Williams S.E. crosscut: The level is being heightened east andwestofthecrossout to ascertain. How far ".payablAore'extends up? wards. • " •” ' No II Leyel,—Dominion 'lode, east of Brooks SJ3. : , crosscut; Driving was continued to 58" feet, the reef'being about' five feet wide. ' A connection' was made to level under'ATNatnara open .shrinkage Btope, and in order to avoid .this stope a deviation drive has been commenced on the north side at 31 feet east and driven 19 feet. . •- Empire 'Lode, Sbuth 1; Wall Gangway.— The crosscut north at 142 feet was continued, the 'particulars .being' as follow:’ - From 37ft to 42ft, 5s '2d per ton’ (mix- , ture); from , 42ft to 4ft, Ss Id per top (mostly country); from 44£t to 49ft,,19s 4d per ton (quartz with little^-country): from , 49ft to 54ft, 42s 3d per ton. (sulphide ore); from- 54ft- to 57ft‘ (country rock) Driving was commenced at'49 feet in and 23 feet driven- eastward. The average assay value to 20 feet. is. 30s Ad per ton. .Width of quartz- is about five feet. Westward 26J feet was driven, and the average assay value to 15, feet-is 29s lOd per ton. At 17 feet a fault strikes . in from the north side crossing the level diagonally and passing out on the south side of drive at 22 feet. A short crosscut will be driven to the north at 24 feet to ascertain if the lode has been thrown in this direction.No, 10 Level.—r State Reef east of junction, south crosscut (in Grand Junction area); The drive was advanced to 145 feet. ’ At 116 feet the full width if reef was 13 feet, average assay value 46s 9d per ton. From 120 to 130 feet the reef is split np. At 129 feet a crosscut was run north 25 feet and connected to level on Republic Lode. .From 130 to 145 feet the’average assay value is 21s per ton over five feet of quartz and country mixed. The-. level was resampled from the commencement of driving to 48 feet east, the result obtained being 90s 3d per ton. No. 9 Level.—Martha Lode east of 440 ft crosscut (in Grand Junction area): The drive has been continued to 181 feet. The average assay value from 116 to 169 feet is ,37s Id, the width of quartz varying from 3J to 5 feet. PADDY’S POINT COMPANY. The secretary of the Paddy’s Point Gold Mining Company, Ltd., reports that a return of 320 z 12dwt has been obtained from the final section of the paddock which has just been completed. The return from the first part of the paddock was 390 z 10dwt, and this, along with the present return, makes- a total of 720 z 2dwt for the paddock. OKARITO REPORT. The secretary of the Okarito Five-mile Beach Gold Dredging Company. Ltd-, reports that telegraphic advice has been received advising that heavy floods during the latter end of the week have caused extra water to enter the paddock from the low-lying surroundings, in consequence of which the washup will be delayed for a Jew days.

GRAIN AND PRODUCE REPORT. Messrs Donald Reid and Co.. Ltd., report as follows: — Oats.—There is very little business passing. An odd line between . merchants, generally of small compass, covers practically all the-business being done at present. There is a fair demand for seed oats, and it is anticipated that the area sown down will be quite equal to that of last year. Values to farmers to-day are as follow;—A grade Gar tons 3a 2d, ■B'grade 35,-sacks extra, on truck, country stations. Wheat.—There is nothing fresh .to report with this cereal. The only wheat remaining unsold is pool controlled, and this is gradually being absorbed. Millers apparently have ample stocks, and are not inquiring to any extent. Fowl wheat is always' more or less in demand, and a fair quantity will be required before the new season’s crop is available. Nominal values to farmers are: Tuscan 5s lOd, Hunters 6s, Velvet 6s 2d, sacks extra, on truck, country stations. Fowl wheat is Worth up to 6s 6d, ex store. Chaff.—There is ample chaff offering, but few of the lines are of good, bright quality, consequently stocks of medium grade are accumulating. Good, bright chaff represents fullly 75 per cent, of the local demand, and trucks of this grade are generally disposed of ex truck. Medium quality is bard to quit, and has to be taken into store and sold as occasion offers. Good-bright chaff is worth £5 10s, sacks extra, ex truck, Dunedin. Potatoes.—Though very few are offering on' the market there appears to be plenty of potatoes still available, and values vary very little. Seed potatoes are also plentiful' and can be purchased very cheaply in the stores. Best tables, picked, are worth up to £4 6s, sacks in, ex truck, Dunedin. Canterbury merchants are supplying the local market. Southern growers have apparently disposed of all their holdings. Messrs Dalgety and Co., Ltd., report as follows:-; — Oats.—Business in. oats is. confined to seed requirements, and there appear ;to be ample supplies held by merchants for this purpose. An- occasional, sample is offered from the country, but growers are not keen to accept ruling rates, in most cases being able" to do better by selling for seed to neighbours.. The nominal -value- to farmers tb-day is 3s 2d, on trucks, for A. Gartens, and 3s for B’s, ’ i; Wheat.—There is now ho milling wheat offering' from .the . country, and millers arh drawing on ’Canterbury stocks for pool wheat' for their requirements. Current values are: Tuscan 5s lOd.' Hunters 6s, Velvet 6s 2d on trucks, sacks extra. Supplies of ; fowl wheat are not .heavy, biit the demand is slow. Sales are being made at up to 6s 6d per bushel, ex store. Chaff.—The demand for. prime chaff is fairly steady, and the market is kept welj supplied with consignments from various districts. Medium chaff is in over supply and considerable'stocks are-held in store. Prime chaff is realising £5 10s per ton, ex truck., . ’ Potatoes.—rNo heavy stocks are' held locally, and merchants are buying more or less from hand to mouth from Canterbury,, where - ample supplies are still offering. The demand is only for good' tables, : which are worth £4 sa'per ton, ex truck. LONDON MARKETS. HIGH 1 COMISSIONER’S - 1 ■ CABLEGRAM. (Special to Din,* Times.) • ' WELLINGTON, September‘29. : The Department of Agriculture : has received, the following, cablegram, dated September. 27. from the "High Commisiaoner for . New- Zealand • in -London:— '• . Tallow.—No--auctionjothis' 1 weeks % Spot inafket quiet andF Steady; at about last rates. 'i ‘ - Hempi—Manila market dull and. easier. “ K” grade, November-Januaty ,shipment, sold down to t £2O. 12s 6d, but steadier at, ithe close, and Oetober-December and November-Jauuary shipments sold at, £21., Sisal.—African, alow. No. 1, Septem-

ber-November shipment, sold down to £2O 15s at the close. Sellers quote SeptemberNovember shipment £2l ss, October-De-cember shipment £2l 10s, No. 215 sto 20s. Tow.—Market easier, and more business done in No. 1 fair average quality, Sep-tember-November shipments, at £l6. New Zealand market quiet, and values unchanged and purely nominal. No firsthand sales reported. Wool.—Sales _ continue with good competition and slightly easier tendency except for super merino. Scott _ Bros./ produce merchants and commission agents, agents for Dunedin Egg Suppliers’ Association, report:— Eggs: Storekeepers, la; guaranteed, la to 19 2d per dozen. Butter: Dairy pats, is; bulk. Is Id per lb. Honey; Bulb, 5d to 51 d per lb; kOlb tins, 5s 9d each; 51b tins, 3s each. Beeswax, Is fld to Is 7d per lb. Fat, 12s per cwt. Poultry: Hens, 4s to 4s 6d per pair; ducks, 2a Cd to 3s each; geese, 4s to 5s each; turkeys, hens lOd per lb. gobblers Is per lb. Pigs: Wanted; prime baeonera, 9d; porkers, 0d per lb. Potatoes: Best tables. £4 6s to £4 10s per ton. Onions; Melbourne 10a 6d per cwt. Table carrots, ,7s fid per cwt. Chaff: Prime oaten .sheaf, £6 to £ fi ,£s per ton, .sacks extra;’oaten, straw chaff, £3 15s, ex. Store. Whole fowl wheat, 6e 6d to 6s 9d per bushel. Partridge peas, 5a 9d to 6a per bushel, sacks extra. Lucerne hay, £6 10s per ton Clover and ryegrass hay, £6, per ton. ex store. Maize, 8s per bushel. Oats, 3s 9d; sparrowbills, 4e per bushel, sacks extra. Pressed wheaten straw, £3 15s; oaten, £4. ex store. Please note: Pigs and poultry must arrive not later than .Thursday, in the week, We also stock the following lines: —Meat ' meal, grit mills, charcoal, leg rings, oyster grit, chicken food, ■ egg crates, quotations on application. September 29, 1930.