MINING.

Otago Witness, Issue 3713, 12 May 1925, Page 30

MINING.

WEEK’S MINING NEWS.

Tho report of the manager of the Blackwater Mines (Reefton) for last quarter etatee that the total footage was 243fcft —viz., driving 54, rising 138ift, win zing 32iit, and croaecutting 18Jft. No. 10 level, north drive, was extended 22ft on reef averaging 23.4dwt over 39in. No. 19 level, south drive, extended 2oft on reef averaging 24.8dwt over 23in. No. 8 level, rise at 1670 ft, risen 61ft to 79ft in height, 19ft being on the reef, averaging 23.97dwt over 23in. No. 1 level rise at 360 ft, south, was put 74Jft on reef, averaging 27.93dwt over 20in. A cyanide ilimes plant is to be installed. The water race is nearing completing, and a crossing la being made at Absalom Creek. The Kukarere-Hakawai road was terminated 70 chains from the battery. As the slimes plant and roaster will call for a vast amount of bricks and machinery to be delivered at the battery, and as the lime will be always required for slimes treatment, a grant • £4OO was obtained from the Minister of Mines. During the three months 8654 tons were crushed for 4238 fine ozs of gold, ; valued at £17,988. Working expenses totalled i 1)12,373, giving a working profit of £5615; development expenditure amounted to £1353, and capital £744. leaving a net profit for the quarter of £3518 DUNEDIN STOCK EXCHANGE. Friday Afternoon. The share market the week has besn fairly active. Bank of New Zeaiands show a further improvement and are now wanted at 55s 3d with sellers a-t 56s 9d. The quotations for the new issue have increased to 54s 8d and 55s 6d. Union Bank are aiso better. Buyers are now offering £l4 7® and a seller to-day asked £l4 Bs. A parcel of j\ew Zealand Breweries was turned over to-day at 38s 3d, and they are now wanted at BSa. A parcel of the debentures was also reported to have been sold at 225. Insurances continue to improve. National Insurances have buyers at 71s 6d, with sellers at 745. An offer of 31s lOd for New Zealand Insurances has failed to attract sellers. Holders of South British also show a reluctance to sell, and a buying offer of 47s has gone unanswered. Standards are unchanged, nuddart, Parkers are slightly better. Weetport Coals are wanted at 335, but sellers will not part at loss than 33s 9d. The selling quotation for Goldsbrough, Morts is weaker by a shilling. New Zealand and River Plates may be purchased at 21s 9d. Meat f preserving stock is quiet. A sale of the contributing issue of New Zealand Refrigeratings was made at 10s 2d. Dental and Medical Supplies are quoted by sellers at UOs, cum dividend, and Donaghy s Rope and Twines are wanted at 325. A parcel of Otago Daily Times were sold to-day at 70s. 'Wilson’s Cements have buyers at 33s and sellers at 33s 6d. Waihis are quoted by sellers at 26s 9d, without inquiry. A Sood deal of business has been done in fount Lyells, the price in the majority of cases being 21s 3d. The quotations yesterday were 21s Id and 21s 6d. Kawaraus were sold to-day at 18s 6d, and the closing quotations were 18s (buyer) and 19s 6d (eeiler). Goveramer' ‘ock is quieter, ar 1 *’ ,tT 4$ per cent, bonds has weakened by 7s 6d. luat ..c.v- . viinedin Stock Exchange on batuiday awning. An offer of £52 for Colonial Sugars brought no response, and Standard Insurance* were wanted at 41s 3d. Sellers of P. and 0. deferred stock asked £295 May 6.—Sale reported: National Bank, £7 Is. May 6. —Sales: Huddaxt. Parker (ord.), 445; Mount Lyell, 21s 3d (three parcels), 21s fid. Sale reported: N.Z. Breweries debentures, S2s. May B.—Otago Daily Times, 70s; Kawarau G.M. Co.", lbs 6d; Huddart, Parker (pref.), fiOs 6d; New Zealand Refrigerating (cont.), 10s 2d. Sales reported: New Zealand Breweries, 38s fid; New Zealand Breweries’ debentures, 225. The following are Saturday morning’s buying and selling which are subject to the usual brokerage: BANKING. Bank of Australasia—Buy £l3 17s 6d. Bank of New Zealand Buy 55s 6d, sel £56 9s. Bank of New Zealand (new)—Buy 64s 6d pel 56s 3d. National Bank—Buy £6 19s, sel £7 2s. Union Bank—Buy £l4 6s. BREWERIES. New Zealand Breweries (Limited)—Buy 37s New Zealand Breweries (Limited) Debentures—Sel 225. INSURANCE. National Insurance Co.—Buy 71s 6d. sel 745. New Zealand Insurance Co.—Buy 81s 9d. South British Insurance Co.—Buy 475. Standard Insurance Co.—Buy 41s Bd. SHIPPING. Huddart, Parker (ord.)—Buy 43s 9d, sel 44s 6d. P and O. Deferred Stock—Sel £295. Union Steam Ship Co. (pref.)—Buy 20s, sel 90s 3d. , COAL. Ji New Zealand Coal and Oil—Sel 8e 6d. P Weatport Coal Co.—Buy 335, sel 83s Bd. L Westport-Stookton (ord.)—Sel 8s 9d. £ LOAN AND AGENCY Dalgety and Co.—Sel £ls 12s 6d. Goldsbrough, Mort—Sol 475. National Mortgage— Sel 78s 6d. New Zealand Loan and Mercantile (ord.)— Sel £95. Perpetual Trustees—Buy 41s. Trustees Executors, and Agency—Buy 66s Sd. Wright, Stephenson (ord.)—Sel fi9s. Wright, Stephenson (pref.)—Buy 16s fid.

MEAT PIU....KVING. Gear Meat Co.—Buy 43s 6d. New Zealand Refrigerating (paid>—Buy 19s 6d, sel 20a 9d. New Zealand Refrigerating (cont.)— Buy 9s 6d. eel 10a 3d MISCELLANEOUS. Brown. Ewing (ord.) —Buy 295. Brown Ewing (prei.)—isuy 20s 3d. Colonia' Sugar—Buy £52. D.J.C. (ord.' —Buy 5s 3d prera. D.I.C (pref)—Duy 20s 6d Dental and Medical Supplies—Sel 20s. Dominion Rubber—Buy 21s 3d, eel 22s 6d Donaghy’s Rope and Twine—Buy 325. Kaiapoi Woollen (cont.) —Sel 6a 6d. Milburn Lime and Cement —Buy 33s 9d, sel 34s 9d Mosgiel Woollen Co.—Buy £6 la 6d. M'Leod Bros. Soap—Buy £22 10s, sel £25. National Electric—Sel 20s. New Zealand Drug Co.—Buy 665, sel 675. New Zealand Drug Co. (new)—Buy 8s 6d. New Zealand Express (ord.) —Buy 19b lOd. New Zealand Hardware (ord.) —Buy 6s 6d. New Zealand Hardware (pref.;—Buy 14s. New Zealand Paper Mills (ord.) —Buy 21s, sel 22s 6d. Smith and Smith (pref.)—Sel 18s 6d. Whitcombe and Tombs —Buy 69s 6d. Wilson’s (N.Z.) Cement —Sel 33s 6d. MINING. Waihi— Sel 26s 6d. Waihi Grand Junction—Buy 9d. Electrolytic Zinc (pref.)—Buy 275, *el 27s fid. Electrolytic Zinc (ord.) —Sel 27s Bd. Mount Lyell—Buy 21s. sel 21s 6d. Kawarau Gold Mining Co. —Sel 20s 3d. WAR BONDS. per cent. Bonds, 1938—Sel £97. 6J per cent. Soldiers’ Bonds, 1933—8uy £IOO 12s 6d. 41 per cent. Inscribed, 1938 —Sel £97. 4J per cent. Inscribed, 1939—5 el £97 2s 6d. 6i per cent. Soldiera’ Inscribed, 1933—8uy £IOO 12s 6d. 5 per cent. Postal Bonds, 1927 —Buy £9B . 6 ‘per cent. Postal Inscribed, 1927 —Buy £97 17s 6d. 5 per cent, Poctal Inscribed. 1929—8uy £97 17s 6d. 5£ per cent. Inscribed Bonds, 1927-41 —Buy £9B. NORTHERN EXCHANGES. The following business was done on ’Changes on Friday: Auckland. —Sales: Bank of Australasia. £l4; Bank of New Zealand. 66s 3d; Taupiri Coal, 18s 6d; Auckland Gas (cont.), 4a 9d: Northern Steam, 15s 3d;. New Zealand Breweries, 38s 3d; New Zealand Refrigerating (cont.), 10s; Wilson's Cement, 335; W aihi, 26s Wellington.—Sales: New Zealand Breweries Bonds, £1 2s; New Zealand Breweries, £1 18s 6d. Christchurch—Sales reported: National Bank of New Zealand, £7 Is; Bank of New Zealand (new), 655; Huddart, Parker (ord.), 44s Bs. Sales: Bank of New Zealand (ord.), 56s The following business was done on ’Changes on Saturday: Auckland.—Sales: Auckland Gas, 245; Wilson’s Cement, 335; Kawarau Gold, 18s. Christchurch Sale: New Zealand Breweries (bonds), 22s (two parcels).