MINING.

Otago Witness, Issue 3861, 13 March 1928, Page 34

MINING.

THS WEEK'S NEWS. The recently formed Ladysmith Syndicate at Roxburgh has struck a very promising face some Bft high and 70ft long, which carries good gold all through (&ays the Cromwell Argus). It is intended to float the claim into a company in the near future, and from previous knowledge of this claim there is every reason to expect it will be a most successful venture. That ths old diggers did not reap all the -harvest of gold is evidenced by the fact that quite a good quantity of the precious metal has been obtained by one person these last few weeks, (reports the Westport correspondent, of the Grey River Argus). One nugget of loz 4dwt, one ot 12jdwt. and pieces of 4g, 2i, 2 and several of Idwt have been brought to light in the “Rough and Tumble” creek. Two residents of Sergeant Hill picked up half an ounce in the same locality. A renewal of. the gold mining activities of old is likely. DUNEDIN STOCK EXCHANGE. Friday Afternoon. Business has been steady on the Stock Exchange during- the past few days, and there has been more activity than during the previous week. Bank of Australasias have firmed, and have been dealt in at £l5 2s. The quotations closed with a buyer a t £l4 18s and a seller at £l5 7s 6d. Bank of New Zealands, which were wanted at 59s at the end of last week, are now inquired for at 58s 9d, but sellers will not accept less than 59s 6d. Commercial Banks are still offered at 28s. buyers’ quotations being 27s 6d. The new issue has been steadily in demand at a premium of 7s 3d. Sellers ask 7s 7d. E. S. and A.’s, which have been placed at £8 2s, are offered at £3 3s without immediate inquiry. National Bank of New Zealands changed hands to-day at £6 18s 6d. Afterwards £6 18s was offered, sellers asking Is more than the market price. Unions are easier with a seller at £l4 14s, and no buyers. New Zealand Breweries shares are firmer, with a buyer at 42s and a seller •t 435. For the debentures 22s 9d is offered, sellers requiring 23s 2d. National Insurances are still in demand at 15s sd, and the selling quotation leaving a margin of only threepence. There has been little change in the insurance section as a whole. Inquiry for ordinary Huddart, Parkers easier. Buyers offer 48s, sellers asking 50s. ■- nion Steams have been dealt in at 20s Id. The best offer for Westport Coals is 30s. Sellers still ask 31s 3d. Ordinary Westport, Stocktons have been placed at Is sd. To-day that price was offered, but sellers would not take less than Is 6d. The preference issue is not in demand, sellers asking 3s 3d. . Both issues of New Zealand Refrigerating are easier. For the paid up shares buyers will give 15s and the contributing shares are wanted at 7s Id. A margin of only sixpence separates the quotations for British Tobaccos, which are wanted at 39s 6d. Ordinary Kaiapoi Woollens have advanced in value, and buyers will give 8s 9d compared with 8s 5d last week. Holders, however, are reticent. The preference shares are offered at 14s 9d. New Zealand Drugs are also better. Buyers are making inquiry at &8s 3d, sellers asking only sixpence more. Ordinary Maloy Rubbers can be obtained at 27s 6d. During the last few days there has been a margin of only a penny ‘•eparating the quotations for Kawaraus, which are wanted at 6d. Ordinary Electrolytic Zincs have twice changed hands at 30s 6d. Mount Lyells are practically unchanged. No inquiry is made for Upper Nevis, which firmed during the week ’to 20s 6d. Sellers ask 21s 6d. Among Government Stock £9B is offered for 4g per cent. BoncN (1930), and 1938’s have a buyer at £97 ss, and a seller at £97 12s 6d. Other 4J per cent, issues are wanted at £97 2s 6d. Saturday. N:- - The contributing issue of New Zealand Refrigerating shares firmed on the Stock Exchange this morning, and one lot was placed at 7s 6d. The on.vta* "ns closed with a buyer at 7s 5d and a seller at 7s Bd. E.S. and A. Banks were, wanted at £8 Is, sellers asking £8 3s. Inquiry W’as made for New Zealand Paper Mills at 15s 6d, but sellers would not accept less than 16s Bd. No reply was made to an offer of 28s for Mount Isas. Upper Nevis had a buyer at 20s and a seller at 21s 3d. March 6.—Sale: Electrolytic Zinc (def. ord.), 30s 6d. Sales reported: Australian Bank of Commerce, 345. March 7.—Sale reported: Electrolytic Zinc (ord.), 30s 6d. March B.—Sale: Westport-Stockton ,(ord.), Is sd. March 9.—Sales reported: Bank of Australasia, £l5 2s; National Bank of New Zealand. £6 18s 6d; Union Steam .(pref.), 20s Id. March 10.—Sales: N.Z. Refrigerating Kcont.), 7s 6d. b The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank of N.S. Wales—-Sei £4B. Bank of New Zealand —Sei 59s 6d. Bank of New Zealand (D issue) —Buy 26s 3d, sei 275. Commercial Bank—Buy 27s 6d. E.S. and A. Bank—Buy £8 Is. sel £8 3s. National Bank of N.Z.—Sei £6 19s. National Bank of Aust, (cont.)—Buy £8 15s. Union Bank—Sei £l4 14s. , BREWERIES. N.Z. Breweries, Ltd.—Buy 41s 9d. N.Z. Breweries Debent.—Sei 23s 3d. Staple’s Brewery—Buy 36s 9d. INSURANCE. National Insurance Co. —Buy 15s sd, sei JSs Bd. JLZ. Insurance Co. —Buy 40s 3d.

northern exchanges. )r ,T be following business was done on Changes during the week:— Auckland.-Sales: Bank of <> j’ * satlona * Bank of New Zealand, £6 18s 6d; Bank of New South Wales, £47 7s od; Bank of New Zealand, 595; National Insurance, 15s 7d; Devonport Steam Ferry 24s 9d - Fullers Pictures, 18s 6d; Taranaki Od Ids * 10s; Wilsons Cement, 37s 10d. Wellington.-Sales; Bank of New Zealand, £2 19s 2d (two parcels); National Insurance, 15s Bd. Sales reported: Bank of Australasia (cum div.), £l5 2s; Union Bank of Australia, £l4 14s; Gear Meat f 7s > Wellington Woollen, £6 2s Christchurch.—SaJes: Bank of Adelaide, £9 os (two parcels). £9 63 6d (odd lot); Bank of Australasia (cum div.), £l5 1 3 is 6d; British Tobacco, t , (three sales); Commercial Bank of Australia, 27s lOd (five parcels): Bank of New South Wales, £47 Ils; English Scottish and Australian Bank, £8 2s; Bank of New Zealand. 59s id; New Zealand Breweries 42s 6d. 42s 9d; Staples Brewery 37s sd; Henry Jones, 37s sd. Sales re-ported-Bank of New South Wales, £47 Ils; Christchurch Gas, 245; Wilson’s Cement, 37s 9d. Friday. Auckland.— Sales: Bank of New South ft ales, £47 10s; Bank of New Zealand, 59s oa- New Zealand Insurance, 40s 9d ; South fiJrief 1 1 5" su - ance ’’ 58s 3d i Renown ColChristchurch.— Sales : English. Scottish, and Australian Bank £8 2s (three parcels) ’ Bank of New South Wales, £47 12s 6d P a *>k °A Ne , w Zealand, 595; Goldsbrough, Mort, 49s Id (two parcels); New Zealand Refrigerating (cont.), 7s 6d (four parcels); Westport-Stockton Coal (pref.), 3s Id 3s Christchurch Gas, 23s lid. Sales re ported: Commercial Bank of Australia 1’ ’ I*2 Bd , : Rank of New South J^ a ‘ e s, £47 12s 6d; Alonteith’s Brewery, 19s Ida*

Saturday. Auckland.—Saie^: South British Insurance, 58s 3d; Obinemuri gold and silver. 6s lOd.

Wellington.—Sales reported: Government 4i per cent. Inscribed Stock (1939), £97 15s; Government 4i per cent. Inscribed Stock (193*). £97 15s; Bank of Australasia, £l5 Os 6d. Christchurch.—Sales : Australian Bank of Commerce, 34s Id; Commercial Bank of Sydney. £25 12s 6d; Bank of New South Wales, £47 12s 6d (odd lot); New Zealand Government 5 per cent. Inscribed (1929), £99. Sales reported: Bank of New South Wales, £47 12s 6d; Union Bank, £l4 14s; New Zealand Drug Co. (cum div.), 68s 3d.