MINING.

Otago Witness, Issue 3854, 24 January 1928, Page 34

MINING.

THE WEEK’S NEWS.

The dredgemaster, Upper Nevis dredge, wired on Saturday: Washed up Uloz gold; still opening out. Dredge running steadily. Expect another return in fortnight.

THE UNDAUNTED DREDGING AND MINING COMPANY.

Mr William O’Brien, dredgemaster, reports that the pontoons have'been safely landed on the dredge site, and are now being joined up. The dredge machinery has proved to be in very good' order, and is on the ground ready to be place in position. The cutting of the new portion of the race, for which a contract was let recently, is being proceeded with, and fair progress is being maintained. There is, therefore, a reasonabl prospect of the dredge starting operations about the end of March.

TARANAKI OILFIELDS. GISBORNE, January 17, The latest report of the Taranaki Oilfields is as follows:—Waiapu No. 2 well: Depth 3010 ft in shale, BJin diameter casing to 2990 ft. Gisborne No. 1 well: Cemented 8} in diameter casing at 2445 ft; now preparing to test shut-off. Gisborne No. 2 well: Construction work in progress.

DUNEDIN STOCK EXCHANGE. Friday Afternoon. There has been a fair improvement in business on the Dunedin Stock Exchange during the second week of the new year. In the case of the majority of company shares, prices have been firm. _ln bank shares New South Wales, Union, and National of Australia have firmed. Bank of New Zealands are steady at about 5Qs 3d. Commercial Banks are a ehade easier. National and South British Insurances are each a little easier. New Zealands have improved since last month. In shipping, Adelaide Steams are in demand at 255, and Huddarts have advanced considerably to buyers 495, sellers 50s. P. and O. has a new issue on the market in the proportion of 15 y — shares to each 100 old at £lOO premium. These rights are quoted m me v.c....... of £25 premium, making a total buying price of £225. This is the lowest price P. and O. stock has reached for many years. Westport Coal has had sales at 31s 9d. The new Kaitangata Company’s shares are on offer at 2s 6d discount. Dalgetys have improved about 7e a share since December, and are now wanted at £l3 9s. Refrigerating shares are rather firmer. New Zealand Refrigerating paid 5 per cent, for the half-year, making 7J per cent, for the year. Auckland Amusement Parks are easier. There is a fairly close market in British Tobacco. Colonial Sugar is in demand at £54 without sellers. Milburn Limes are wanted at 32s 3d, without sellers. The erection of the new plant is steadily progressing. National Electric prices weakened considerably as a result of the reduced dividend, and are now quoted at 10s 6d and Ils 6d, buyer and seller respectively. New Zealand Drugs have improved, and are wanted at 68s 3d, with sellers asking 69s 6d. In the mining division Mount Lyalls have improved, and are wanted at 28s 6d. with sellers at 29a. The directors of this company have made application to the. Australian exchanges to have their shares quoted in the industrial section. For years past the dividends have been earned in the manufacture and sale of fertiliser. Upper Nevis have been sold at 255. The dredge is opening out, and a return should be close at hand. New Zealand Government securities are practically unchanged. There are buyers at £9O 15s for free of tax 44 per cent, bonds, without sellers, and the 54 per cent. 1933 taxable bonds are wanted at £lOl.

Saturday, Noon. Business was reported in Westport Coals at 31s 9d on the Dunedin Stock Exchange this morning. There was also a sale on ’Change of Upper Nevis shares at 255. Other lines were quiet.

January 17.—Sales reported: Upper Nevis, 255; Bank of New Zealand, 59s 3d. January 18. —Sales reported: E. S. and A. Bank, £7 13s; National Bank of N.Z., £6 15s 6d; Mount Lyell, 28s. January 19. —Sales reported: National Banks, £6 15s 6d (two); Broken Hill South, 465. January 21.—Sales: Upper Nevis, 255. •Xiipanpig Sales reported: Westport Coal, 31s 9d. The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank of Australasia —Sei £l4 14s. Bank of N.S. Wales—Buy £47 10s. Bank of New Zealand —Buy 595, sei 59s 3d. Bank of New Zealand (D issue) —Buy 265. Commercial Bank —Buy 295, sei 29s 3d. E.S. and A. Bank —Sei £7 14s. National Bank of N.Z. —Buy £6 16s 3d, eel £6 16s 6d. National Bank of Australasia—Buy £l7 2s. National Bank of Aust, (cont.) —Buy £8 9s, sei £8 Us 6d. Union Bank—Buy £l4 12s 6d, sei £l4 )4s. BREWERIES. Staple’s Brewery—Buy 395, sei 40s. INSURANCE. National Insurance Co. —Buy 15s Id, eel 15s 6d. N.Z. Insurance Co.—Buy 41s 3d, sei <ls 6d. South British Insur. Co.—Sei 57s 9d. SHIPPING. Burns Philp—Buy 38s. Huddart, Parker (ord.)—Buy 495;- sei Kk

Huddart. Parker (pi'ef.)—Buy 20s lOd, P. and O. Deferred Stock—Sei £247. P. and O. Deferred Rights—Buy £23. U.S.S. Co. (pref.)—Buy 20s, sei 20s 6d.

COAL. Westport Coal Co.—Buy 31s 6d. Westport-Stockton (ord.) —Sei Is Bd. Westport-Stockton (pref.)—Sei 3e 6d. Kaitangata Coal—Sei 2s disc. LOAN AND AGENCY. Dalgety and Co. —Buy £l3 9s. Goldsbrough, Mort —Buy 46s 9d. N.Z. Loan and M. (ord.) —Buy £92 10s. N.Z. and River Plate —Buy 245. Perpetual Trustees—Buy 61s. Trustees, Ex., and Agency—Sei 61s. Wright, Stephenson (ord.) —Buy 20s, sei 225. Wright, Stephenson (pref.)—Buy 15s, eel 16s. MEAT PRESERVING. Gear Meat Co.—Buy 375. N.Z. Refrigerating (paid)—Sei 18s 3d. N.Z. Refrigerating (cont.) —Buy 8s 4d, MISCELLANEOUS. Auck. Amusement Park (ord.) —Sei 14s 6d. British Tobacco—Buy 39s 3d, sei 40s. Brown, Ewing (ord.) —Sei 335. Bruce Woollen Co.—Buy Us. Crystal Ice Co.—Buy 18s 6d, sei 20s 6d. D.I.C. (pref.)—Buy 20s 6d. Dominion Investments—Buy 225. Dominion Rubber—Sei *7s. Donaghy’s Rope and Twine—Buy 33s 9d. Eclipse Petrol—Sei 10s 3d. Kaiapo. Woollen (ord.) —Buy 8s 6d. Milburn Lime and Cement—Buy 325. Milburn Lime and Cement (cont.) — Buy 8s 3d prem. N.Z. Drug Co. (£2. paid)—Buy 68, sei 69s 6d. N.Z. Express (ord.) —Buy 20s 9d. N.Z. Malay Rubber (ord.) —Sei 435. N.Z. Milk Prods, (debs.) —Buv 225. N.Z. Paper Mills (ord.) —Sel‘l7s 3d. Otago Daily Times—Buy 71s. Taranaki Oil —Sei Us. MINING. Kawarau G.M. Co.—Buy sd, sei 7d. Waihi—Sei Us 9d. Waihi Grand Junction—Sei Is 3d. Electrolytic Zine (pref.)—Buv 325. Electrolytic Zinc (ord.) —Buy 31s. Mount Lyell—Buy 28s 6d, sei 295. Mount Isa —Sei 265. Upper Nevis—Buy 24s 6d, sei 255. Big Beach—Buy 14s, sei 18s. WAR BONDS. 44 per cent. Bonds, 1930—Buv £97 12s 6d. 4J per cent. Bonds, 1938—Buy £96 15s. 4$ per cent. Bonds, 1939—8uy £96 15s. 44 per cent. Inscribed, 1938—Buy £96 15s. 44 per cent. Inscribed, 1939—8uy £96 las. P er „ e , ent - Soldiers’ Inscd., 1933—Sei xIOL 78 5 i per cent. Bonds, 1930—Buy £9B. NORTHERN EXCHANGES. fo,lowin g business was done on Changes during the week: — Auckland.—Sales: Bank of 59s 66 , 59s 3d; New Zealand Insurance,’ 41s 3d; Lalgety and Co., £l3 7s 6d; Waipa Coal, 16s sa; Auckland Gas, 23s sd, 23s 4d; Wellington Gas, 28s; Wellington Woollen (ex div), £6 2 S 6d; British Tobacco, 39s 3d; Milne and Choyce (deb.), 23s 9d; Wilsons Portland Cement, 38s; Moanataiariri (eont-.), Is Id; Lucky Shot (2s paid), Is 2d Wellington.—Sale reported: Goldsbrough Mort, and Co., 475. Christchurch.—Sales: Bank of New Zeilarn}, 59s 3d (three parcels); British Tobacco 39s 6d (two parcels), 39s sd, 39s 6d; Wilson’s Cement, 37s 7d (two parcels). Sales reported: New Zealand Government 4j per cent. Inscribed (1939), £97; Goldsbrougn Mort. t 475; New Zealand and River Plate (ex div.), 27s 6d; British Tobacco 39s 5d (two parcels); Electrolytic Zinc (pref., cum div.), 31s lid.

. Wednesday. Auckland.—Sales: War Loan, 1938, 44 per cent., £97; War Loan, 1936, 54 per cent., £lOl 7s 6d; Inscribed Stock, ”192741, 5J per cent., £99;. Auckland Harbour Board, 1937, 5J per cent., £96 ss; Breweries (debs.), 22s 7d (two); Commercial Bank of Australia, 29s 3d; Bank of New South Wales, £46 12s 6d; Bank of New Zealand, 59s 4d; South British Insurance, 57s 3d; Auckland Gas, 23s 4d; Auckland Gas (cont.), 17s; Wilsons Cement, 37s lOd; Lucky Shot, Is 4d; Ohinemuri, 7s 3d; Waihi, Ils 2d; Mount Lyell, 28s. Wellington.—Sales reported: Bank of New Zealand, 59s 3d; Staples and Co., 39s 6d.

Christchurch.—Sales: Bank of New Zealand, 59s 2d (two parcels); South British Insurance/56s lOd; Goldsbrough, Mort, 475; P. and O. Deferred Stock (rights), £27 (two parcels). Sales reported: South British Insurance, 57a;

Dalgety and Co., £l3 10s; Goldsbrough, Mort, 475; New Zealand and River Plate, 27s lOd; Union Steam (pref.), 20s; Wilsons Cement, 38s.

Thursday. Auckland.—Sales: Inscribed Stock, 1938, 4 J per cent., £97; Bank of New Zealand (D pref., 15s paid), 21s 9d; Auckland Gas, 23s 3d; Auckland Gas (cont.), 17s; Northern Steamship, 14s 9d (two); P. and O. Deferred Stock (rights), £25; British Tobacco, £2; Waihi, Us 3d, Us 2d. Wellington.—Sales) reported: Goldsbrough, Mort, and Co. (two parcels), 475. Christchurch—Sales: National Bank of New Zealand, £6 16s (five parcels); Goldsbrough, Mort, 47s (four parcels). Sales reported: Dalgety and Co., £l3 10s.

. i , Friday. Auckland.—Sales: N.Z. Breweries (Debs), 22s 8d (two); Bank of New Zealand 59s 3d (two); Union Bank (new issue),’£l4 6s; National Insurance, 15s 4d ; Taupiri Coal, 255«3d; Devonport Ferry Co., 54sWilson’s Cement, 37s lOd. ’ Wellington.—Sales reported : Finance, Ltd. (5s paid), 5s 3d; British Tobacco, 39s Bd, 39s 9d.

Christchurch.—Sales: National Bank of Australasia (£5 nd.), £8 10s; British Tobacco, 39s 8d (three parcels), 39s 7d, 39s Bd. Sales reported: N.Z. Government 4£ per cent. Inscribed, 1938, £97; Wilson’s Cement, 37s lOd ; Commercial Bank of Australia, 29s 4d; N.Z. Refrigerating (10s pd., cum div), 8s 7d_

Saturday. Auckland. —Sales: Commercial jbamZ of Australia, 29s 6d; South British Insurance, 57s 3d; Staples and Co., 39s 6d. Christchurch: Sales: N.Z. Breweries (inscr.), 22s 6d. Sales reported: Commercial Bank of Aust., 29s 4d.