DUNEDIN STOCK EXCHANGE

Otago Witness, Issue 2499, 5 February 1902, Page 24

DUNEDIN STOCK EXCHANGE

Before a start was made with the call-over on Tuesday morning, the Chairman referred to the fact that Mr A. Herdinan, one of their oldest and most respected members, was leavin<* Dunedin to commence business in Invercrgill. He understood that Mr Herdrnan would make his last appearance with them that morning, and he would not like him to leave without expressing the regret of the Exchange as a body at his departure. He had been identified with them for a long time, and had always token an active part in their constitution. Mr Herdrnan was chairman during that trying period, which might be termed unprecedented, generally alluded to as the " boom time. He had had a great deal of work to do, which wou.a have taxed the most capable, and he had given every satisfaction. He had made a friend, moreover, of every member on 'Change through his

Juhd and genial disposition, and lie felt sarQ., they would all bo sorry to hear of. his final ." separation. Mr John Gage (the senior memS ber) also spoke a few words, in which ha eulogistically referred to Mr Herdman's many, upright and straightforward qualifications. Mt Berdman made an appropriate reply. There was a^uiet tone on the Dunedin Stock Exchange on Monday, and business was rather restricted. Prices, .however, remained muoH "" the same as on Saturday. The usual telegramfrom Alexandra referring to the height of the river was not received in time for the morn.- __; ing call, but came to hand later on. It showed}*; that the river had receded to 9ft 9in abov*^" normal, and that the weather was fine. ThjC[ Nelson Creek return of 530z for 118 houra* dredging was announoed in the morning, anct ■ . in the afternoon the following telegram, frxHri the dredgemaster of the Ahaura River dredge was read: — "Got dredge up; no damage pots'* toons; starting to try lift ladder." The foff lowing letter from Mr W. Hoisted, s«oretjU3j of the No Town Creek Company, with refer- \ ence to the return for last week, was alsQ react ' " Tne return from the No Town Creek dredgei is 250z for 112 hours' work. The wi^e as re- • ceived on Saturday evening stated 250e for «T hours, and as this appeared to me to be somewhat curious, inasmuch as the time given was so short, I took immediate steps this morning' to repeat the wire, when it was found that the " department) had evidently made an error, as upon the third test the reading was 112 hours. I regret this mistake should have occurred, but members will understand that as I dia not receive the original advice till 8.30 p.m; on Saturday I have taken the earliest oppor- • tunity to rectify and confirm." Mr W. T. Monkman, secretary of the Rise and • Shins Company, also advised the Exchange of lecedpfc : of the following wire from the dxedgemister of that company's dredge :—" Bottom next basin; looking well; wire to-morrow. ■ • For v the purpose of showing the movements - of the market, we make a short, comparison of the prices ruling at the beginning Of last- wee* and those prevailing' at the present time. AX _ shares have been consistently offered at 31s, but there have been no buyers. Ahaura Biyers were inquired for at Is 9d, with sellers at 2s 9d a week ago, but sinre then there was ft weakei.m^, coiv.icq.uent on the^dredgo sinking. The stock snows signs of recovering again, however, airu-e the receipt of advice stating that the machine has beon raised, aud buyers now offer 1» 6d, holders asking 6d more. Alqingas are a little weaker than at the beginning of last week, when they were offered at 20s, with bujus i«t 19s 3d. A snls vtaa effected ou MonCvt (1 19s 3d, &'id moie inquiries weie made o "i;, s?d se'lers hohlir.g for 19<; Od. Alpine t ( p. z shares art- also weaker. On Monday week tr« best buyer's pr^e was 2'ls !'>d, sellers wantii» -jul the !atu-r are low offering at 235. fid*, buy^r* closing at 20s. At the beginning of ,upf. wc»ck G«l)ors of Boundary Cffeks held for 6?, hw tliov have pradualJjf come «o>-.-ii. A sale was nude on Monday *i 3s. and woie shares were i-i the svis.rksst at 43, buyers closing at 2s 9d. lost jui'tday Or.uel Klrrtiirs weic offered afc <^ V-.it &«-:l»rg I'ftVf- now dropped to 7s, with lnivpi'B &V 3s. Charlton Crec-ks have rernainea steady. Tho piv.-es a?ke:l by sellers during tne : vfokhave been from SOs to 2\s, but the only ! ;r jr.i'7 for them was made last Tuesday, when i)W w«o offered. D^vis's Bcrids have also i wsvk'ned: buyer? f'em Is Gd dis to 2s dis, | and Hellers from Is dis to Is 3d dis. D.unstan. ' Loads have eased oft" since Monday weak, when they were asked for at 6s Sd, with. se!:etK i at^ 0? 6d. the latest quetation^boing 4a 6d and 6s. 3d. Electrics have firmed sinco Vpdnesa»s- ( M that tima sellers wanted 40s, baycrs closing at 365, and since then sellers have come, down 3d, but buyers have advanced to 37s 6d. Elee-" trie Extpndeds "have fallen away a good deal. At the .•ommencement of last week they were inquired for at 7s 6d, with sellers at 9s, bu,t now buyers have Teceded to 4s, holders aakirgtfs 6d. Endeavours have eased off. On Monday week the quotations were 16s and 16s 6d, but buyers have dropped to 13a, with sellers at l-~3. Enterprises have been steadily offered ct 303, buyers* best being 24s 6d. Ettricks were inquired for at lls 6d a week ago; since which time- buyers have receded 6d, while sellers have varied trorn lls 9d to 12s 3d. First Chances, too, have weakened shghf.y, buyeTS dropping from 9« to 8s 3d, and Fillers from 10s 6d io 9s 3d. Fou^ppn-mile Beaches remaned sto.ady all lust week, buyers srenerally closing at 16s and sellers at 18s. They made an upward move ore Montlav, however, when a sale was effectp<i afc 17s 9d after which buyers closed nt 17s 6d and sellers at 18s 3d. "Gold King* have im-provf-i a shade, but Gold Queens have weakened — buyers from 3s 3d to 2s "d, and sellers from 3s 6d to 3s 3d. Golricu Beaches were in the raaiket at 12s, with buyers at 6s, but since the middle of the week they have been offered at 10s. Buyers went up to 7s 6d on Thursday, but have dropped to 6s again. Golden Miles have been steady, as also have Golden Eivors. A sale took place on Monday, week at 7s 6d, and several others were inade> at 73 9d during the week. The latest quotations nre 7s 6d for buyers and 7s IOJd for sellers., Oreo'i c to!ie Junctions have been firm all the' wv.-ak. ICew Halfway Houses hnve been fairly si "ad y. Sellers have varied from 10s 9d to 12s fid, and buyers have offered froai 8s to 9s. ITokitika Rivers have also bsen firm On Monday week they were in the market nY 14s 9d. with buyers at 13s 6d, but se'ler.s have advanced' to 15s 6d. Inchdales have been very steady. At the beginning of last week they we*e inquired for at 14s 3d, holders asking ISs, while now buyers offer 14s 9d, the> selling price being unaltered. A sale took place on Thursday afc 163. Kelly and Caseys were inclined to weaken during last week, but are commencing to improve again. They were offered at 10s. with buyers at 7s 6d on Monday week, andi while sellers are again asking 10s, buyers have advanced 6d. Kohinoors have been sleadity sought at 10s, but there has been an absence *of buyers. Leaning Rocks have eased a shade. On Monday week they were offered at 15s 6d, the be>3t buyer being 14s 9d, while the latest quotations are 14s 6d and 15s. Sales were made through the week at 14s 6d and ]ss. Magnetics, which were offered at 9s 6d, with buyers at 3s on Monday week, improved as the week wore on ; but they have receded again, buyers now closing at 3s and sellers at 9s. Manuherikias have been firm, sellers varying from 38s to 40s, and buyers from 30s to 335. Mo.' and Annies have also remained firm. Several sales wer© made on Monday week at 23s 6d, at which price further inquiries were made, holders asking 3d

tnore. The latest quotations are 23s and 24s 3d. iMbkoias, which- have been neglected, were 'offered at 13s Trithout response. Molyneux ■jKohinoorß have weakened a shade. A week ago they were asked for at 2s 6d dis, with Sellers at Is 9d dis, while since then buyers have Receded to 3s and sellers to 2s. Monte ChristO3 ■were in the market at 31s on Monday week, buyers closed at 29s 3d, but the latter since eased to 28s, sellers remaining fy. Sellers of Nelaon Creeks have come from 59s 6d to 555, and buyers from 54s i 51s. North Beaches have been steady, So Town Creeks have improved considerably. Buyers offered 17s, with sellers at 18s, -J&a. Monday week, but the former are now offer20s 6d, holders asking 22s 3d. Sales took yesterday at 22s and 22s 3d. Olrigs have •• tfallen slightly, sellers coming down from 13s zo 12s' 3d, " while buyers have been steady at zrbmils 6c to lls 9d. Orwell Creeks are a good "Beal easier". • A sale took place at the beginning jbf last ,week at 6s, further buyers offering 5s jimd holders asking 6s 9d, but since then the former have dropped to 2s, with sellers at 6s.

'Pactolus shares are also weaker. A sale took {place at 36s on Monday week, and several at 7j36s and 36s 6d on Tuesday, but the stock has weakened till buyers have come down ' ! nto 32s 6d, sellers wanting 3s more. Prince ■ alberta, which have not been much in evidence, ihave also v fallen. A week ago they were intuired for at 4s, with sellers at 7s. while the inner have now dropped to 3s, holders asking 3. Reeves's PropriefcaTys have been steady. lOn Monday week they wore asked for at 14s 6d, sellers at 16V 6d, while the latest quotations are 15s and 16s. Buyers of Rise and ' Shines have receded from 13s 6d a week ago to 10s, but sellers have advanced from 14s 6d

$o 17,8. Roxburgh Jubilees have been steadily

toff ered at 17s -6d, buyers closing at 15s on MonHay week and at 14s 6d on Wednesday. Royal Maoris, which were in the market at 20s, with buyers at 16s', on Monday week, were easy till "near the* end of the week, since which time they have improved, the latest quotations being 18s 3d and 19s 6d. Trafalgars have shown an improvement. They were sold at 22s at the commencement of last week, with further at 21s 6d, and sellers at 22s 6d, while buyers have gon* up to 23s and sellers to 25b. ■Upper Magnetics have remained pretty steady, •but Victory s are a little easier. Several salea of the latter stock were made last week at 22s 6d and 235, and the latest quotations are Ms <3d and 22s 3d. Vincent Extended*, which were offered at 9s 6d on Monday week, are now inquired for at 7s 6d, without sellers. "VVaiznumus, Waimumu Centrals, and "Waimunru Extenders have remained practicarliy stationary.

Though no business has been done in investment stocks during the week, inquiries for these have been steady, and prices generally are improving. The following sales were made during the •Week: — January 28.— Alpine No. 2, 235 ; Bendigo, 12s 6d; First Chance, 9s; Gentle Annie, 18s; Gold Queen", 3s 3d; Greenstone Junction, 25s and 24s 9d; leaning Rock, 14s 6d ; Olrig, 11s 9d ; Pactolus; 365, 36s 6d, and 36s p; Victory, 22s

January 29. — Bendigo, 13s; First Chance, 8«s 3d: Fourteen-mile Beach, lfls ; Golden River, 7s 9d; Kelly and Casey, 8s 6d; No Town Creek, 19s 6d.and 19a 9d; Olrig, 12s and 11a 9d; Ris» and Shine, 14s; Upper Magnetic, 4e 9d; Victory, 22a 6d. January 30. — Bendigo, 13a ; First Chance. 8s ; Golden River, 7s 9d; Greenstone Junction, 255; Inchdale, 16s; Leaning Rock, 15s; No .Town Creek, 20s 6d, 21s, 31s 6d, 21a 9d, and 255; Ppint dOr, Is 9d and 2s dis; Royal -Maori, 17a, 16s Bd, and ,l6s 6d; Trafalgar, 235; .Victory, 23s and 22s 6d.

January 31 — Bendigo, 13s 3d ; Endeavour, 14s ■&d; Golden River, 7s 9d; Olrig, 12a; Pactolus, 85s p ; Point dOr, 2s dis ; Royal Maori, 16s 6d, 16s 9d, and 18s; Victory, 22s 6d; Vincent Extended, 7s 9d. February I.— Alexandra Lead, ss; Meg and Annie. 24s 3d; Monte Christo, 28s; Olrig, 12s; Pactoluß, 35s p.

February 4. — Aldinga, 19s 3d ; Boundary Creek, 3s; Fourteen-mile Beach, 17s 9d ; No Town Creek, 22s and 22s 3d.