MINING.

Otago Witness, Issue 3593, 23 January 1923, Page 42

MINING.

WEEK'S MINING NEWS. J ananry 18. The Rise and Shine dredge dealt with very tight ground until about the middle of last week, when it became a little easier to work, and, consequently, more than the usual area of bottom, which was of red and white clay, coal, and a little sandstone, was covered. There was a slight improvement in the prospects on the west side. The average depth of ground was about 46ft. January 22. The Rise and Shine dredge reports a return of 31oz 3dwt for 121 hours’ dredging. DUNEDIN STOCK EXCHANGE. The turnover on the Dunedin Stock Exchange during the past week was quite up to the average, and business was done in every class of shares. Union Ranks were sold at £l4 and later at £l4 2s 6d, and a firm tone has been maintained in banking shares generally. Jn insurances Standards were sold at 34s 6d, and Nationals had a reported sale at 735. The gap between the buying and selling quotations for New Zealand-? has gradually narrowed, and the mai*et closed on Friday with a buyer at 28s 5d and a seller at 28s Bd. South British were ■ought at from 37s to 38s, with very little 'esponse. Shipping shares are in practically the same position as they were a week ago, though there has been a slight falling off •in the inquiry for P. and O. -Deferred Stock. Weatports and Taupiris have received most of the attention allotted! to coal shares, and in the former sales took place late in the week at prices higher than those ruling earlier in the period. Sellers of loan and agency lines continue to show little desire for business, and in the miscellaneous class sellers have been reticent in the majority of lines. Business, however, has been fairly brisk at firm prices in two lines—the two issues of paper mills —while in Dominion Rubbers there have been several transactions with prices showing a tendency to fall. The only noticeable movement in meat preserving .■bares has been a slight drop in the contributing issu2 of New Zealand Refrigeratings. Both Waihis and Waihi Grand Junctions have receded a little, but all lines in War Bonds have received regular inquiry at improved figures. There was a fair amount of animation in the bidding on ’Change on Saturday morning, and several close markets were established. Two parcels of Loan and Mercantile (ord.) shares were turned over at £79, and the market closed with a buyer at £7B and _a seller at £BO. There was plenty of inquiry for Huddart, Parker (ord.) shares, and. a sale was recorded at 555, which was .again offered by a buyer without resulting in business. There were also reported sales in two lines of banking shares—Unions at £l4 (two) and Nationals at £6 8s 3d. January 15.—Dominion Rubber, 20s 9d, 21s, 21s 6d (5); Waihi, 345; Waihi Grand Junction, 10s; Standard Insurance, 34s 6d. Sales reported: Union Bank, £l4; National Electric, 20s; New Zealand Government 4i -per cent. Bonds. 1930, £96 15s, £96 17s 6d. January 16.—New Zealand Paper Mills (new issue), 23s 6d (three); New Zealand Paper Hills (paid), 245. Sale reported*- National Insurance. 735. January 17. —New Zealand Insurance, 28s 6d; Dominion Rubber, 20s lOd (2); Mount Lyell, 22s 3d. ■ Sales Reported.—Union Bank, £l4 2s 6d ■ Union Steam Iprefi), 19s 9d (2); D.I.C (ord )’ 2b prem. January I*.—Mount Lyell, 22s 3d; New Zealand Refrigerating (con 1,35 s 2d, 15s Id, La, W eetporl Coal Company, 36s 35s lOd (•wo), SSk 9<L Sales reported: Goldsbrough, Mort, 44s 6d (two); Kaicpoi Woollen (ord.), 25s 6d • Wil*cm s (N.Z.) Cement. 23s 4id. January 19.—Dominion Rubber. 20s 6d •(two), 20s; Waihi, 32s 6d. January 20.—Huddart, Parker (ord.), 555; New Zealand Loan and Mercantile (ord.), £79 '(two). Sales reported; Union Bank, £l4 (two); National Bank. £6 8s 3d. - The following were Saturday morning’s buying and selling quotations, which are subject to the usual brokerage: MINING. Waihi—Buy 335, sel 355. Waihi Grand Junction—Buy 9s Bd, sel 10b Electrolytic Zinc—Sel 29s 6d. Mount Lyell—Buy 21s 3d, sel’ 22s 3d.