COMMERCE AND FINANCE

Otago Daily Times, Issue 22205, 7 March 1934, Page 5

COMMERCE AND FINANCE

MINING

AELL-KILGOUR REPORT

of the Bell-Kilgour Gold Company, Ltd., has received "the -•following report from the manager, dated . March 3, as follows: ||- The main face was advanced 19 feet for "varying values, some coarse gold being I »ecured early in the week. Drive 6: Drove ■'•■,'• ;18 feet i alongside old drive for fair gold, ■..'also' timbered old workings where good ; wold had been secured by former owners. South of 5a timbered old workings and ' Bow going through wash that is carrying food gold; No. fie: Drove 32 feet. First li feet fair gold, then 18 feet low grade. J ■ -*rith~an improvement thelast three feet. No. 3 south branch: Drove 25 feet through ■ fandy wash .for fine gold. THE MATAKI RETURN t j (Pm United PtEsa Association.) : "-■■ ■■''':•.■.';> Auckland, March e. i-;T--Tlh« Mataki ? gold dredging return for the week ended March 2 was 13oiB for , ' 134 hours. « : • I' LORNEVILLE STOCK SALE '■: (SFECIAL TO.DAILYTimes.).. v INVEROARGILLi March 0. .' Fat":sheep were again'forward (n large . Bumbers at- the Lornevilie. stock sale to- . xWethera were Sot in very keen de- ¥~ ipand, but freewng ewes were keenly competed for by export buyers. 1 Fat Sheep.—For wethers:there was not « .ji 'demand, but export buyers : vperited -freely; ibr freezing ewes. 'Prime quality wethers realised up to 28s; good quality medium-weights. 24s to 265; light Wd unfinished, 21s 6d to 235; prime heavy fiwes, up to'18s; freezing weights, 13s 6d t 6 15s Bd, according - to weight and quality. 1. Fat I*mM.—-Chitside : of two or three pens of extra' heavy lambs the quality ■?*■•.;; only medium. A For exceptionally ~';-#jme beavyrweights 301' was realised. ',' Prime .heavy-weights brought 24s to 25s ,9dt and lighter weights 20s to 22s 6d. Fat Cattle—The yarding was small, and the quality,all over was the poorest . y**ded for some time. Prices.were much the same as those ruling last week. •\ /Prime handy-weiebt bullocks realised up .wto- ITi ' with -lieKter sdrts^'from £8 sVto i 6. and unfinished down to £4 10s. Goqdqunl'ty heifers made £5 15s; handy* . Weithta, £4 ,5» to £5; : lighter and unfinished down to £3" ss; «bbd-dttality cOws, '". to £4.155; medium:quality,;£3. 5s to £4; •ged and inferior sorts down to £2. SYDNEY WOOL SALES (United Press Association!) I fly Electric f•legraph^-Copyrfglit) ' . SYDNEY, March 6. (Received March 6, at 11 p.m.) At the wool eales 12,171 bales were •ffered and 10,340 sold, while 1124 Were disposed of privately. The market ron- '"' tinues firm at recent rates. Greasy merino ' jtold to 24}d for eight'bales from Bendemeer and seven from Armidale. ) * CHICAGO WHEAT MARKET , (United Press Association.) (By JBJeotrle Telegraph—Copyright.) ; NEW YORK, March 5. (Received March o,'at B'p.m.) - ' Chicago wheat: ■ May,;-,87| cents per ,£ Ipuihelj July, 88|; September, 875; New York (cash), 98|. TALISMAN DUBBO GOLD MINES * - PROFIT FOR HALF-YEAR. (Special to Daat Times.) > t':: AUCKLAND, March 6. ''■'-% profit of 1915 is disclosed in the aeeeunts of the Talisman Dubbo Gold " :^V.:-^i^;: LW^vfor.- v the-half-y«ar..ended De--HCember 31, u if aim* a debit in the previous year of £l't& : A debit of £392 3A the profit and loss account has been - written off, and a "dividend of 3d a v 'A»**S' : -' equal to 5 per cent., has • been fEKMAJ€OT BUIUMNG SOCIETY , OPERATIONS TO, CEASRt (Special to Daily Tones.) , • • ATJCBLLANDf March •< A step preliminary -to-liquidation was ' .-takes. -at .a special. meeting, of share--lolders in the Permanent Building Soi.eiety of, New Zealand. A resolution was passed in the form of an additional rule : that the society ihalli terminate upon passing'of a resolution by the direc- , "few- ihatt, in their legislation ': '"tender ■» it impracticable or inadvisable ' Jte continue operations. This applies uofc (Withstanding the- existing rule that liquidation ha* to be agreed u,non by three--ipurthfof tlje membewi. it was pointed pijt to members that although the '*«»- 7 <iiety 'was registered under the' Building "Societies i;i Act, 1908. legislation passed at . %he lilt •easion of Parliament made it r -*>r the society to carry, on, x /This legislation. provided that building focieties must produce a certificate rrom ■>"■ an actuary certifying that every member had a reasonable proßpect of receiv- ' Jni- appropriations within" no more than WyeaTsfrom the date of his admission 1» membewhip. The. conditions governing the society's operations it im- - -fSoiiiWeto do,thi«. it was stated subse- • quently that the next step would be to • wind up the'" Several thousand pdunds had been subscribed in the short * "" and this'tbofltiy would be returneditojne fi shareholders: The share* were allotted :ata rebecription of tf, with a.ss en^ trance and it was expected that the entrance fee wpuld pay the expenses to y-' r '--£te^:-.;;;.'•.:/ .''•■"•■'. ■'-•■' "' : -' "■•""• ' '- ■■'■

OVERSEAS MARKETS.

THE SHARE MARKET :- DUNEDIN STOCK EXCHANGE A sale of the long term " D " issue of the Bank of New Zealand was reported on the Dunedin Stock Exchange yesterday at £1 12s 9d, further offers of £1 12s 6d failing to attract a seller. There was business in. Commercial Banks at 17s Id, and these shares are now on offer at 175.3 d. Ordinary Wright, Stephensons were tutned over at 19s, and contributing New Zealand Refrieeratings changed hands, at 8s 2d. The latter shareß are how wanted at 8s Id. New Zealand Breweries had business at £1 19s 7d. further offers of £1 19s 3d finding sellers firm at,£2. There were sales of .Giliespies at 2s 2id and 2s 3d. The market closed with a buyer at 2s 2Jd and a seller at 2s 4d. Bell-Hoopers changed hands at Is and Is o|d, further offers of the former; figure finding sellers firm at the latter. A parcel of Nevis Diesels was sold at Is Ojd. and further business was reported at that figure. The close of the market' found sellers offering the shares at Is Id. Moonlight-Nelson's Creeks had business at Is 2|d, further offers of that price being met with sellers' quotation of Is 3d. Government Loans continued to be in steady demand. ( SALE ON 'CHANGE.

NORTHERN EXCHANGES f'pra United Press Association.) The following business was done on 'Changes yesterday:— Auckland.—Sales: National Insurance, 18s 6d; New Zealand Insurance, 56s 6d; Taupiri Coal, 15s; Farmers' Trading, 4s Gd; Gear Meat, 27s 9d; New Zealand Newspapers, 29s 9d; New Zealand Refrigerating (10s paid), 8s 2d; Roller Mills, 325; Wilsons Cement, 26s 6d; Waihi, 30s 4d; Golden Sands, 3s; Brian Born, 29s 6d. Unofficial: Claude Neon 47s 3d: Investment Executive Trust (B), £lOl 15s, £lOl 12s 6d, £lOl 10s. £101; do (second B), £B7 10s.' „.,-/.„, £ Wellington.—Sales: National Bank of Australasia (£5 paid), £6 10s: New Zealand Insurance, 56s 6d; New Zealand Refrigerating (10s paid), 8s 2d; Taupiri Coal (late Monday), 15s l£d; United Provisions, 10s;. Gillespie's Beach, 2s 2d; Golden Sands, 3s. Unofficial: Claude Neon (late Monday), 47s 3d. ' Christchurch.—Sales: Commercial Bank of Australia, 17s Id; Bank of New Zealand, 48s lOd (five sales); Union Bank of Australia, £lO sb, £lO 5s 6d; Dalgety and Co, £lO 8s; Goldsbrough, Mort, 33s

3d (two aales); Anthony Hofdern, 15s lOd; Australian Iron and Stee} (pref.), 21s (two sales); Dominion Fertiliser, 17s 6d, 17s 9d; Dunlop Rubber, 19s 6d (two sales), 19s 9d (four sales); Electrolytic Zinc (ord.), 27s (three sales); BellHooper (Is paid), Is (two sales); Brian Boru, 29 e 6d, 29s 9d, 30s; Gillespie's Beach, 2s 2d, 2 e 2jd; Goldfields Dredging, 9d; King Solomon (cum div.), 4s Bid, 4s 6d; Mahakipawa, 2Jd; Moonlight Nelson Creek, Is 2Jd (two 6ales), Is 3d. Sales reported: Commercial Bank of Australia, 17s Id; National Bank of New Zealand, £4 4s 6d; National Insurance, 18s 4d; Christchurch Gas, 295; Mount Lyell, 24s 10d.. SYDNEY STOCK EXCHANGE 'United Press association.) (By Blectrlo Telegraph—Copyright.) SYDNEY, March 6. (Received March 6, at 5.5 p.m.) The Stock Exchange sales were as follows:—Bonds (4 per cent.), 1941, £105; 1953, £lO6. Commercial Bank of Sydney, £l7 13s; Commercial' Bank of Australia, 17s; Bank of New South Wales, £34 10s; Associated News, 21s 7Jd Associated News (pref.), 22s 6d; Broken Hill Propy., 46s 9d; Colonial Sugar, £65 ss; Dunlop Perdriau, 19s 6d; Dunlop Perdriau (pref.), 345; Goldsbrough, Mort, 33s 3d; Wilcox, Mofflin, 13s. ADDITIONAL SALES. (United Press Association.) (By Electric Telegraph-r-COpyright.) ■ " . . SYDNEY, March 6. (Received March 6, at 11 p.m.) The Stock Exchange had an increased turnover, but, prices showed little variation.; Bonds were weaker, due to moderate selling pressure, but banks were more active. <•>' V Additional sales were:—Bank of New South Wales, £34 10s; Commercial Bank of Sydney, £l7 15s; Commercial Bank of Australia,U79; National Bank (£5 paid), £6 10s; Colonial Sugar, £65 7s 6d; British Tobacco, 38s 7Jd; Associated News, 21s 7£d; Associated News (pref.), 22 s 7Jd; Berlei,'3o s 3d; Tooths, 44s 9d; Tooheys, 27 s 9d; Carlton Brewery (ex div.), 43s 6d; Dunlop Perdriau, 19s 9d;- Goldsbrough, Mort, 33s 3d; Winchcombe, Carson, 30s; Henry Jones, 33s 6d; Standard Cement, 17s 9d; Mount Morgan, 21s 10Jd; Mount Lyell, 24s 7|d; Broken Hill Proprietary, 46s 3d; Bulolo Gold, 16 17a 6d; Kuala ? ampar ' 148 MELBOURNE,March6. Commercial Bank of Australia, 17s 2d; Dalgetys, £lO 10s; HowaTd Smith, 16s.

NEW GUINEA GOLD SHARES (United Press Association.) (By Electric Telegraph—Copyright.) , LONDON, March 5. New Guinea Gold shares are quoted at 6s 3Jd.. . ' • BULOLQ SHARES (United Press Association.) ' ;i ' (By Electric Telegraph—Copyright) LONDON, March 5. Bulolo shares, £5 10s 3d. BEET SUGAR (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, March 5. Licht and Co* estimate four months' beet sugar production at 4,632,350 tons. FOREIGN EXCHANGES (British Official Wireless.) (United Press Association.) )

DOLLAR AND FRANC (United Press Association.) (By Electric Telegraph-—Copyright.) LONDON, March $, Exchange on New York is quoted at 5.07 J dollars to the £, and on Paris at 77J francs to the £. PRICE. OF FINE GOLD (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, March 5. Fine gold is quoted at £6 16s lOd per ounce. RUBBER MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, March 5. Rubber stocks: London, 39,680 tons; Liverpool, 52,832. ' WHEAT MARKET ■ i (United Press Association) (By Electric Telegraph—Copyright) LONDON, March 5. Wheat. —Cargoes are steady, buyers inactive, and parcels quiet, sellers asking 3d more. Futures—London: April. 18s lid; June, 18s BJd; September, 19s ljd. Liver, pool: March, 4s 2jd; May, 4s 5Jd; July, 4s 7d; October, 4s B|d. BRADFORD TOPS MARKET - (United Press Association.) ' (By Electric Telegraph-*-Copyrlght.) LONDON, March % Bradford is quiet awaiting the opening of the London wool sales. PROPERTY SALE Messrs Alex. Harris, Ltd., report having sold bv auction yesterday in the estate of Catherine Campbell M'Gill part of section 40. block XXXVI, Dunedin, together with a five-roomed dwelling, situated at No. 136 St. David street. After spirited bidding the property was knocked down forl •' _____________ LONDON METAL MARKET (United Press Association.) (By Electric Telegraph—Copyright. >

£ s. d. Nevis Diesel .., ..... 0 1 01 , SALES REPORTED \ Bank of New Zealand (D) '■ ,1 12 0 Commercial Bank ... ,0 17 1 Wright...Stephenson, (ord.) 0 10 0 N,Z.Refrigerating (cont.) 0 8 2 New Zealand Breweries 1 10 7 Gillespie's Beach .... Bell-Hooper .. .. .; 0 2 V 0 2 3 0 1 0 0 1 04 Nevis Diesel ..; .. ... 0 1 °i Moonlight-Nelson's Creek; 0 1 21 ; The following are yesterday afternoon's buying and gelling quotations, subject to the usual brokerage which are !!—• . .". w ; /.BANKING/; .•";'•■.. • Buyer. ■ ■ Seller. V - ' -; : ■ , - £ 8. d. £ s. d Australasia- .. .. -— 13 7 6 New South Wales 33 15 0 34 10 0 New Zealand v. 2 8 6 2 0 0 N.Z.' (long D) ■.'. 1 12 6 . — Commercial ,•»* -.. . — 0 17 3 E.S. and A. ;. .. ■*•—■. fi 16 6 National oft Aus- . tralasia (cont;) 6 9 0 — Union .■. 1. .. 10 2 0 — /;/. ... r. INSURANCE. National . .., .. 0 18 ■i' o is 0 New Zealand "».' — 2 16 6 Standard .. ..• 2 10 6 3 1 0 SHIPPING. Huddart, 'Parker" ' (pref.) .v ..1 4 P. and 0; Def. 6 18 0 ■; Stock : ■ •■■.. ...• ■ ■■'.•— 13 6 U.S.S. Co. (pref.) 1, 5 0 ■■ "~. !;;•■ ' \ coal. Westporfc .... 0 14 » 0 15 2 Westport-Stocktbn : (ord.) V.) ..' 0 1 2 0 1 9 ,: . LOAN AND .AGENCY. - Dalgety and Co. .. 10 JO Golasbrough, Mort — National Mortgage : : — 0 '"' —' i 13 4 3 4 0 N.Z. Guarantee fc •; Corp. , .... 0 3-10 0 4 2 Trustees, Executors 2 10 0 ;' : ",.'~ Wright, Stephenson V (pref.) ... .... 0 17 6 ; 0 18 3 .MEAT PRESERVING. N.Z. Refrig. (cont.). 0 8 South. Froz. Meat s / 1 • ■ — : (paid) .... — South Otago Free*. ,6.0 0 3 4 6 '.*.-' '..■ ■•' MISCELLANEOUS. Broken Hill Propy 2 5 « .'. imj\ Brown, Ewing (ord.i .. ,. 0 19 6 ' It'T"'. Bruce Woollen r (ord.) :■,■':$.■ '-.■■•:, ■"- . —' DiC;; (ord) .; 0 14 DJ.C. (pref.) .. ,1 2 040 0 6 ■T9 ' : ~ Dominion Fertiliser., 0 16. 9 /',' —■ Dominion Fertiliser '(debs.) .. ..102 10 0 ':' _ Dominion Rubber — • 1 0 0 Donaghy'a Rope. .". •: ' '■ 2 7 0 ■ — Dunlop Perdnau Rubber r ., .. . 0 19 6 „ m Kaiapoi Woollen - * (pref.) .. .. 0 15 M'Leod Bros. ..28 0 3 0 ■'" mm Mount Lyell ..' .. 1 4 sNIZ. ■Newsoaper* ' '•— . 3 .''/ ' i—' 1 11 0 N.Z. Paper Mills.. 1, 9; 6 ■rRegent Theatre '.-;•. 0 19 Smith and Smith — 0 10 0 17 6 6 Whitcombe and Tombs . ...... L - 3 15 0 BRBWERIES "\ * ■■ j+i If JZ. Breweries. ;/. , 1 19 3 2 0 0 ' MINING. Waihi .. i. v?: 1 10 0- — ■ Molyneux Electric 0 10 — Mahakipawa (pref.) '■'■■, — 0 0 4 Kildare .v ..' . :'•—' 0 2 0 Okarito ..." ■'.;;■, — 0 10 8 Paddy's Point .. 0 2 6 0 3 6 New Cornish Point — 0 1 1 Golden Progress ... . — 0 1 6 King Solomon. . ... .0' 4 1 0 4 8 Blackwater ..'■'•' .. — 1 14 6 Gillespie's Beach 0 2 21 0 2 4 Waitahu ;.' .. 0 4 8 0 5 0 Big River .. .. — 0 1 0 Mount. David .. ■■—'■-. 0 2 0 Nokomai .. .. ■ — 0 1 9 Freshford .... 0 0 1 '—' Upper Shotover .. 0 3 0 0 3 8 Central Shotover — 0 1 2 Bell-Kilgour .. '..••'• 0 0 7 0 0 81 Bell-Hooper .. ... 0 1Oxenbridge .. .. 0 0 0 8 0 1 0 0 o| 9 Matakj .. .. : — 0 1 9 Mount Morgan ..,1 ft: 0 1 3 0 Bendigo Galdlight ,00 7 0 0 81 Charleston .. .. — 0 1 9 Moonlight-Nelson's 0 1 21 0 1 3 Brian Boru .. .. 1 7 0 1 10 0 Goldfields ; .. .. 0 0 8 _i Nevis Diesel .. , 0 1 1 i GOVERNMENT LOANS. 3} p.c. Ins., 1938- • '.; 1943 ... .. .101 15 0 . — 3i p:cV Ins., 1938^ 1952 .... .. 101 12 6 — '3* pic: Ins., 1939- ■ 1943 .; .. .. 101 15 0 —— 31 p.c. Ins., 1939vl952 .. .. •• 101 12 6 ■' /— 31 p.c. Ins., 19411043 .'. .. .. 101 15 0 — .31 pe. Ins.. 1941 6 ,.—. 4 p.c. Bonds, Janu- \ ary, 1940 . .... 101 10 0 -— 4 p.c/ Ins.. January, 1940 .,' ..101 10 0 - :• — 4 p.c. Bonds. Febru; ary; 1946 ,;.... .. 101 5 0 " m 4 p.c. Ins., February. 1946 .. .. 101 5 0 . —-.' 4 p.c. Bonds. April, 1949 .. .. .. 102 10 0 •' '"•— 4 p.c. Ins., April, 0 — 4 p.c. Bonds, June, » 1955 .. .... 101 15 0102 7 6 4 p.c. Ins., June, 0 ';''' — UNLISTED. Invest. Exec, Trust B Debs., first issue .... i — 101 15 0

(By Electric Telegraph-—Copyright.J RUGBY, March 5. Paris— Par. . Mar. 3.' Mar. 5 Franca to £1 124.21 77 5-32 77 8-16 Brussels— Belgas to £1 80 21.80 21.74 Oslo— --!/■>' Kroner to £1 18.180 19.90 19.90 Stockholm-— Kroner to £1 18.150 19.891 19.391 CopenhagenKroner to £1 18.150 22.40 22.40 BerlinMarks to £1 .. 10.48 12*80 12.78 Montreal Dollars to £1 ■4.86 2-3 -T: m ; 5.091 New York— ' -. r. Dollars to £1 4.88 2-3 C.OTf 5.00% Yokohamai" Pence to yen i'.. 24.582 14 3-16 14 3-16 Hongkong—',-. Pence to dollar 24.58 18| 18% Bombay-— Pence to rape* — i 18 3-82 18 1-16 Batavla— , / Florins to £1 12.10 7.52 , 7.52 Milan— Lire to £1 .. 82.46 59 3-16 59 Amsterdam— Guilder to £1, 12.10T 7.541 7.531 Prague-;— ". '" Kroner to £1 1041 122% 122% Geneva- '- i Francs to £1 Vienna25.221 15.72 15.69 Schillings to £1 84.861 281 28| Helsingfora**- j , Marks to £1 .. 193.23 2261 2261 Madrid11 i, Pesetas to £1 '25.231 87 9-32 37 9.82 Belgrade— Dinars to £1 25.22} 225 225 Athens — Drachma to £1 375 630 530 Lisbon— Escudos to £ 1 110 109% 109% Bucharest— Lei to £1 .. 831.6 510 '' i 5W Bio.de Janeiro— . Pence to mllrels 5.890 4% 4% Buenos Aires — Pence to pesos 47.28 36] 361 ShanghaiPence to tael — 161 16} Montevideo— Pence to pesos — 381 381 Warsaw— Zlotys to £1 .. _ '_.'. ',_*. '.

LONDON. March 8. OBflcoSTOd March 8, at 11 P.m.) The following are the official metal quotation*!— Ton Copper. §pot . £32 15 7% nice CO 8 f Copper, forward- .. , .32 0 m Fall 0 18 9 Electrolytic, ipot ., . . 85 10 0 Fall 0 2 8 Electrolytic forward . . 38 8 0 Fall 0 12 8 Wire bar* .. .. . . 38 8 0 Blue 0 7 6 Lead, ipot ., ... . 1112 6 . Else 0 2 8 Lead, forward .. . , 11 18 9 Rite 0 1 8 Spelter, spot .. ,, . . 14 13 8 Bite 0 13 Spelter, forward ., . . 15 18 Rise 0 t 8 Tin ipot.. .. .. . . 228 15 0 Blue 0 11 8 Tin forward .. .. . . 228 8 3 No change Pis two. borne trade* . » i : .e'--No change Antimony. Bmieb . 89 10 0 No change , Antimony, foreign . 21 2 8 0*. BIm 0 7 6 BUrer. . standard ..' . . SOttd . Els* %d Sllrer, fine ., .. . . 22<4d Unit No change Molybdenite .. .. . . 2 3 0 No change . 1 tt 0 RlK 0 It