MINING.

Otago Witness, Issue 3714, 19 May 1925, Page 30

MINING.

WEEK'S MINING NEWS, DUNEDIN' STOCK EXCHANGE. Friday afternoon. There has been a fairly active market on the Dunedin Stock Exchange considering the broken businiss week that baa been experienced. Bank shares have all remained firm, although the immediate return on investment is lower than may be obtained on giitedged securities. Buyers, however, rely on a better rate from the new issues of shares. The National Bank of iNew Zealand has circularised shareholders intimating an issue of one new share to each three old shares at a price of £5 or 50s premium, and the old issue are now selling '(cum rights; with buyers at £1 Is 6d without immediate sellers, while the rights changed hands on Change at 303 6d, with a reported sale at 31s. The closing quotations were 30s and 31s. The old issue of Bank of New Zealands are quoted at 55s 9d and 56s 6d. and the new issue has buyers at 55s without seders. Bank of Australasias are wanted at £l3 17s 6d, and Bank of New South "Wales at £4l. Commercials show no activity, buyers asking 27s 6d, with sellers at 295. Union Danas have further improved, and are wanted at £ii 7s. Insurance shares are also a shade firmer. There is a quiet market in shipping apart from Huddart, Parkers, which have Blightly improved. Now that a considerable reduction has been made in the exchange rates between Australia and New Zeaiano and vice versa, Australian shares may be more freely dealt in on better terms than has been the case for some time past, hat port Coal 3 improved slightly with the announcement of an improvement in the interim dividend. Business has been recordeo in Dalgetys at £ls 10s, cum a dividend of 7a. New Zealand Refrigerating shares havieased and are offered at 20s 6d and 10s 3a. respectively, without buyers. .Dominion Rubbers (ex 2s) are firm, and there are now 'buyers at 24s 3d. The price of rubber the guidng 1 actor, and according to reports stocks are low. New Zealand Paper Mills improved a little with the announcement of a 4 per cent, dividend for the half-yeat, making 7* per cent, for the year. Wilson w Cement Company announces a dividend of lOd for the half-year, making, with the in terim dividend, 8 1-3 per cent, for the year. Evidently more was expected, as the price has eased since the announcement. There are now sellers at 33s without buyers. New Zealand Breweries shares remain firm with a buyer at 373 6d and a seller at 38s 6d. Sales of debentures have been recorded a l . 225. "Wards are firm, buyers quoting at 59s 6d with a response of 61s. Kawaraus have eased and sale* have been made at 19s and 18s 6d. Waihis are now ex a dividend of Is and are quoted at 25a 3d and 26s 3d. Mount Lyells (cum a dividend of Is) have buyers at 21s Id and sellers at 21s 6d. Aaw Zealand Government per cent. Bonds are Still in the vicinity of £97. Buyers quote at £96 15s with sellers at £97 2s 6d. The per cent. Soldiers’ issues are better with buyers at £lO9 15s. May 13. —Sales: Kawarau, 19s, 18s 6d, Colonial Sugar, £53 (two); Dominion Rubber. &4s (two). , __ „ , . May 15.—Sales reported: New Zealand Breweries debentures, 22s ; New Zealand Express Company (ord.), 20s; National Bank (rights), 31s. The following are Saturday morning’s buying and Belling quotations, which are subject to the usual brokerage: BANKING. Bank of N.S. Wales —Buy £4l. Bank of New Zealand —Sel 56s 6d. Bank of New Zealand (new)—Sel 55a 9d. Commercial Bank —Buy 27s 6d. National Bank—Buy £7 Is, sel £7 33 6d. National Bank (rights)—Buy 295, sel 325. Union Bank —Buy £l4 Bs. BREWERIES. N.Z. Breweries (Ltd.) —Sel 38s 6d. N.Z. Breweries (Ltd.), Debs.—Sel 225. Ward and Co.—Buy 58s 64. INSURANCE. National Insurance Co. (ex div.)— Buy 70s 6d sel 72a. N.Z. Insurance Co.—Buy 325. South British Insurance Co.—Buy 475. Standard Insurance Co.—Buy 41s 6d. SHIPPING. Huddart, Parker (ord.) —Buy 43s 9d, sol 44s 3d. Huddart, Parker (pref.)—Buy 20s 6d. U. 9.5. Co. (pref.)—Sel 20s 3d. COAL. Weßtport Coal Co.—Buy 33s sd, sel 345. West port-Stockton K ord.) —Sel 3s 9d. LOAN AND AGENCY. Dalgety and Co.—Buy £ls 17s 6d. N.Z. Loan ar.d M. (ord.)—Buy £93. Perpetual Trustees—Buy 41s. Trustees, Ex. and Agency—Buy 565. Wright, Stephonson (ord.)—Sel 295. Wright, Stephenson (pref.)—Buy 17s. MEAT PRESERVING. Gear Meat Co.—Buy 43s Gd. N.Z. Refrigerating (pd.)—Sel 20s 9d. N.Z. Refrigerating (cont.) —Sel 10s 3d. MISCELLANEOUS. Brown, Ewing (pref.)—Buy 20s od. Brown, Ewing (ord.)—Buy 295. Bruce Woollen Co.—Buy 21s ocl, sel 235. Colonial Sugar—Sel £54. D.I.C. (ord.)— Buy 5s 3d prem. P.I.C. (pref.)—Buy 20s 6d. B ratal and Medical Sup.—Sel 20e. ominion Rubber—Buy 24s 3d. K&iapoi Woollen (ord )—Buy 12s 3d.

Kaiapoi Woollen (oont.) —Sel 6a 3d. Miiburn Lime and Cement—Buy 33s 6d. Mosgiel Woollen Co.—Buy £5 19s, sel £6 Is. M'Leod Bros.’ Soap—Buy £22 10s. National Electric—Sel 20s. N.Z. Drug Co.—Bpy G€s, 6el 66s 6d. N.Z. Drug Co. (cont.)—Buy 8s 6d prem. N.Z. Express (ord.)—Buy 19s 9d. N./j. Malay Rubber (ord.) —Buy 12s 6d. N.Z. Malay Rubber (pref.)—Buy 255. Sugar of Milk—Buy 21s, sel 225. Smith and Smith (pref.)—Sel 18s 6d. Whitccmbe and Tombs—Buy 70s, sel 72s 6d. Wilsons (N.Z.) Cement—Sel 32s 9d. MINING. "Waihi—Buy 255, eel 25a 9d. Waihi Grand Junction—Buy 9d. Electrolytic Zinc (pref.)—Sel 28s. Electrolytic Zinc (ord.) —Sel 275. Mount Lyell—Buy 21s Id, sel 21s 6d. Kawarau G.M. Co.—Buy 18e, sel 19s. WAR BCL\iJS. 4£ per cent. Bonds, 1930 —Buy £96 12s 6d. 4£ per cent. Bonds, 1938—Buy £96 15s. 6£ per cent. Soldiers’ Bonds, 1933—iMiy £IOO 15s. 41 oer cent. Inscribed, 1938—Buy £96 15s, sel £97 2s 6d. 5J per cent. Soldiers’ Inscribed, 1933—8uy £IOO 15s. 5 per cent. Postal Bonds, 1927—8uy £u6. NORTHERN EXCHANGES. The following business was done on ’Changes on Friday: Auckland.—Sales: New Zealand Inscribed Stock (1927-41), £9S; Bank of New South Wales. £4l 7s 6d; Bank of New Zealand, 50s; Union Bank, £l4 10s. £l4 11s, £l4 12s; New Zealand Insurance, 323 4d (two eales); Goldsb'.ough Mort, 475; Huddart-Parker, 44s 6d (two sales); Colonial Sugar (Australia), £49 ss. Christchurch Sales reported: Union Bank, £l4 12s 6d; New Zealand Breweries (bonds), 225; Goldsbrough Mort, 475~ Id. 47s ljd, 47s Id. Sales: Bank of New South Wales (cum div.), £ll 7s 6d; Union Bank. £l4 10s, £l4 11s; National Insurance (cum div.), 72a 6d. The following business was done on ’Changes on Saturday:— Auckland.—Sales: New Zealand Inscribed Stock (1938), £96 15s; National Bank of New Zealand, £7; New Zealand Insurance, 32s 4d. Christchurch. —Sales reported: Goldsbrough. Mort, 47s 3d, 47s 5d (two parcels), 47s 3d, Waihi Mining (ex div.), 25s 3d.