MINING.

Otago Witness, Issue 3592, 16 January 1923, Page 26

MINING.

; WEEK’S MINING NEWS. January 11. The Rise and Shine dredge resumed work on tVednesav night of last week. The ground was very tight, and the bottom consisted of red and white clay, with a little coal. January 12. The Waihi Gold Mining Company foT the period ended December 22 treated 15,301 tons of ore for a return of 49700 z of gold and 68,1090 z of silver. In the corresponding period last year 38540 z of gold and 50,7510 z of silver were obtained from 14,547 tons of ore. January 15. The Rise and Shine dredge obtained' 340 z 17dwt for 185 hours’ work last week. GENERAL ADVANCE IN AUCKLAND. AUCKLAND, January 12. The general all round advance in the prices of stocks and shares as quoted on the Auckland share market is very noticeable to-day. As compared with the quotations of a year ago practically every stock of sound commercial value has improved in price. The most remarkable change for better is in Government War Loan Bends and Inscribed Stock. Taking the buying quotations as a basis of comparison the prices show that substantial indications are given of restorqq confidence existing now as compared with a year ago. The offers for War Loan Bonds have increased by £6 10s in the case of the 1930 issue, by £ll and £ll 5s respectively in the 1938 and 1939 issue, and by £4 10s in the 1927 issue. Soldiers’ Loan Bonds have increased in value by £7 12s 6i. As regards Inscribed Stock the increase in the case of the 1927 issue is £4 10s, and in the 1938 and 1939 issues £ll 5s and £ll respectively, ■while Soldiers' Loan Inscribed Stock has risen by £7 12s 6d. A glance at the other investment stocks shows that all bank shares have .npcorad. Insurance stocks are still in fave-u - and financial shares have mostly r.ser. in tee period. Among the miscellaneous isrestments such concerns as Abraham •r.d lYilliP.ms, Newton King, the Farmers’ Ob-operative Auctioneering Company, and t'inii.» r companies have come much into favour in the iast few months. In mining the most noticeable improvement in the 12 months has been in Waihi shares. These have advanced in recent months, partly owing to the theory put forward in Mr Morgan’s repori that there might be a secondary enrichment in the mine, and partly because of the developments on the Edward lode. A year ago the best offer was lgs 6d, bat the shares are now selling at 33s 9d, having ehown a slight tendency to weaken in the last day or two on account of fhe threatened trouble over the reduction of miners* wages. The Waihi Grand Junctions have improved also. The present buying price, 10s, is 2s fid better than that of a year ago. DUNEDIN STOCK EXCHANGE. For the first week of the year on the local ’Change business has been good, and a firm tone has been maintained daily On Monday a parcel of Westport Coals changed hands at 3is 3d, the market closing with buyers offering 345, and sellers asking 34s 6d. The next day these shares firmed, buyers offering 34s 5d and sellers refusing to take less than 355, but no business was done on ’Change, a sale being reported at 34s 6d. They firmed a little on Wednesday, buyers offering 34s Cd, with sellers asking 355, while on fhe following day they were in demand at 34s 9d, the market closing with a sixpenny margin, without result On Friday 3is 9d was again offered for them, but more were available at less than 355. Waihis also attracted some attention during the week, several lols changing hands. On Monday the buying and selling figures were 34s 8d and 34s lid respectively, a sale _being effected at 34s 9d. On Wednesday "two parcels changed hands at 34s 6d and one at 349 7d, the market closing with an •ightpenny margin. The following day they were also active, two parcels being turned

over at 34s 3d and two at 34s 2d, the hammer falling with buyers at 31s and sellers at 34s 3d. On Friday buyers offered 345, with sellers asking 34a 6d without result. Mount Lyells were very close on Monday, buyers offering 29s 9d, sellers demanding one penny more. A sale took place on that day at 20s 9d. Throughout the week they remained firm, and were in demand on Friday at 20s lOd, sellers asking 21s 3d. New Zealand Refrigeratings were also sought after, a parcel of contributing* changing hands at 15s 5d on Tuesday. The following day two lots were disposed of at 15s 6d, and one at 15s sd. No further business was done the last two days, and the market closed on Friday with a sevenpenny margin. Government Bonds firmed gradually during the week, but sellers, in most cases, were scarce. A parcel *ot Soldier Settlements. 1933, changed hands at par on Monday, but no othsr sales took place in this class. On Thursday a parcel of Government per cent., 1938’s changed hands at £96 12s 6d. On Saturday morning a paroel of P. and O. deferred stock changed hands on ’Change at £325. Several lots were on offer at £330, but buyers did r.ot quote. A sale was reported of D.I.C. pref. shares at 20s 4d. On ’Change buyers offered 29s 3d, with sellers asking 203 6d, without result. January 13.—P. and O. Deferred Stock, £325. January 8. —Westport Cos-1 Company, 34s 3d; Waihi, 34s 9d; Mount Lyell, 29s 9d. Sales reported: Papuan Products, Is; Waihi Grand Junction, 10s ft!; New Zealand Paper Mills, 22» 6d; Union Steam Ship Company (pref.), 19s 9d; Soldier®’ Settlement Bonds, 1933, £IOO. January 9.—New Zealand Refrigerating (cont ), 15s act. Salle reported: Westport Coal Co., 34s 6d. January 10.—New Zealand Refrigerating (paid), 15s 6d (2) 15s sd; Waihi, 34s 7d, 34s 6d (2). Sales reported: Bank of New Zealand, 57s 6d (2); Union Steam Ship Co. (pref.), 19s 9d (2) * - January 11. —National Bank, £6 8s; New Zealand Government 4J per cent, bonds, 1938, £96 12s 6d; Waihi, 34s 3d (2), 34s (2). January 12.—Union Bank, £l4; Standard Insurance, 34s 6d, 3fs 3d; Huddart, Parker, 555. Sale reported: D.I.C. (pref.), 20s 4d. The following were Saturday morning’s buying and selling quotation®, which are subject to the usual brokerage: MINING. Waihi—Buy 345, sel 34s 6d. Waihi Grand Junction —Sel 10s 9d. Mount Lyell—Buy 21s, sel 21s 4d. AUCKLAND STOCK EXCHANGE. / AUCKLAND, January 13. The following business was done on ’Change to-day:—Sale: Wilson’s Cement, 235.