DUNEDIN STOCK EXCHANGE.

Otago Witness, Issue 2811, 26 August 1908, Page 29

DUNEDIN STOCK EXCHANGE.

There is very little atmreciable difference in the value of dredeing stocks, and business during the week has been quiet. Some of the Waikaia dredges havo touched on poor ground, and returns will have to show an improvement before much business is done in the shares. The Work-op Company was listed on 'Change durina; the week. This company's dredge started only * few months aero, and the three last returns have been in the vicinity of 1250z per ! week. Te claim is situared at Antonio Flat on the We«t Coast. Tho river, which rose a little during the we-ek is back apcain lo a dre-dffable level. Hartley and Rilev scrip changed "ha-nds yesterday morning at 14<% which indicates that the large return since reported was anticipated.

T The sensation of the last few days has j been in Talismans. Values fell from £2 7s 6d to £2 0s 6d as a result of an extra j increase of water in the No. 13 level. It appears that for a rear or two past th© management has recognised the necessity of installing a more powerful pump to control the water as development work is extended. Alfchougk 200 ft of stone of high value has been opened up and proved' for 600 ft south from the shaft, the management deferred opening stopes until the large pump is installed. This new plant was provided for, and ordered months ago, and consists of four Babcock and Wilcox boilers, superheaters and economisere, mine pump, air compressor, etc. The boilers and most of the plant are now in position on the mine, and it is a remarkable coincidence that this extra inrush of water should have occurred just as the company had nearly completed arrangements for coping with any such emergency. However, as already stated, there is no stoping, and very little development work being done below the No. 12 level. All the battery stone is taken from the stopes above that level, and the old pump should easily keep the water from • rising above the No. 12 level ; as in pumping from there over 200 ft of pumping will be saved, and there will be no inconvenience in working the mine as usual until the large pump is ready, when the water should be baled out in a. few hours. It has been suggested that the mine, could be pumped dry from the -Woodstock shaft, and we understand that suoh a suggestion has been made by the London Board to the management ir Auckland. Business was comparatively brisk at the morning call-over on Friday, when five sales were effected. Hartley and RiLey's found a purchaser at 14a, and contributing Kauri Timbers ohanged' hands at the same figure. Talismans were dealt in at the remarkably low prices of £2 Is and £2 0s 6d. This was evidently the bottom of the market, as in the afternoon a rebound had occurred, the buying and selling quotations respecTalJemans were a shade easier again on Monday afternoon. A parcel changed hands in the morning at £2 3s, and the closing quotes of the day were £2 Is 9d and £2 2s 6d. Sales were reported in the morning at prices ranging from £2 3s 6d to £2 2a Bd. In Hartley and Rileys business was done at both calls at 17e 6d. Kauri Timbers show an upward tendency. A sale of the contributing issue was effected at 14s lid in th© morning, and in the aftei'noon buyers were offering 14s 3d, with sellers holding out for 14s 6d. The following are Monday's latest quoj ta-Cions, subject to the usual brokerage: — Deedoing Stocks. Bignell'e No Town — Buyers 3d, sellers lid. Chicago — Buyers 6a, sellers 9s. Electric— Sellers 9s. Golden- Bed— Sellers 10s 9d. Lady Roxburgh (contrib.)— Sellers 8s 6d. Pactolus — Sellers 14s. Rise and 'Shine— Sellers £1 14s 6d. Mining Stocks. May Queen— Buyers 2s Id. Hercules— Buyers 10s. Tasmanian Copper— Sellers 7s 9d. Talisman Consolidated— Buyers £2 Is 9d, sellers £2 2s 6d. W-aihi Grand Junction— Sellers bl L3e. Vvaiotahi— Buyers 3s, sellers 3s 4d. August 19. — National Insurance, £1 7s 9d ; Portland Cement (new issue), 5s Id (prem.). tively being £2 2s 9d and £2 3s 6d. August 21. — Hartley and Riley, 14s; Talisman Consolidated, £2 Is (two parcels), £2 0s 6d; Kauri Timber (contrib.), 14s. August 22.— Hartley and Riley, 17e 6d (two parcels). August 24.— Hartley and Riley (two parcels), 17s 6d; Talisman Consolidated, £2 3s; Kauri Timber (contrib.). 14e lid. Sales Reported.— Talisman Consolidated, £2 3s 6d, £2 3s, £2 2s 9d; Waiotahi, 3s 2d.