MINING.

Otago Witness, Issue 3870, 15 May 1928, Page 34

MINING.

THE WEEK’S NEWS. The oil bore in the Mangles Valley, near Murchison (West Coast), is now flown considerably over 4000 ft, and the work is still proceeding. For some time the character of the strata encountered has not altered, and evidence of the presence of oil is not lacking. Mr S. C. Fache, general manager and dredgemaster of the Upper Nevis Gold Dredging Company, reported on Saturday:—7oozs for 247 hours’ dredging. Period spent working through old pada which had been taken out to greater than others. Will be operating on solid between paddocks for next washup. Weather good, expect another fortnight’s dredging. ALEXANDER MINES. The Secretary of the Alexander Mines reports that during the month of April the battery crushed 34 tons for a return of 590 z 7dwt of melted gold, of an estimated value of £235. BLACKWATER MINES. The manager of Blackwater Mines, Ltd., reports as follows for the month of April:—A total of 3062 tons was crushed, yielding 1191 fine ounces of gold, valued at £5059. Working expenses were £4512. The roaster also treated 59 tons, yielding 105 fine ounces, valued at £447. Working expenses were £lO5, working profit £BBB, capital expenditure £BO, and development expenditure £371, leaving a profit over all of £437. TARANAKI OILFIELDS. GISBORNE, May 8. Taranaki Oilfields report: Gisborne No. 1 well 2710 ft in shale, 6Jin diameter, casing to 2689 ft. Gisborne No. 2 well 395 ft in shale, carrying numerous large hard concretions, 12Jin diameter, casing run to 365 ft. DUNEDIN STOCK EXCHANGE. May 9.—Sales reported: New Zealand Guarantee Corporation, 8s sd; WestportBtockton (ord.). 2s lOd. May 9. —Sale reported: Nokomai Sluicing, 255. May 10. —Sale: Electrolytic Zinc (ord.), Bls 3d Sales reported: National Bank of Aus.ralasia (cont.), £9 3s 6d; Dalgety and Co., £l4 10s (two). May 11. —§ales reported: Milburn Lime and Cement., 32s 6d; Nokomai, 255. May 2.—Sales reported: National Bank of New* Zealand, £7 2s 6d. Friday Afternoon. Business has been brisk on the Stock Exchange during the past week, and prices have been well maintained. Some of the jtocka have firmed considerably. Inquiry for Bank of Australasias is still Made at £l4 4s, but sellers throughout the week h ve been reticent. Late buyers of rights quoted at 60s to-day, but holders iid not respond. New Zealands have been in steady demand at 60s, at which price there were leveral transactions last week, but that figure has not been sufficient for sellers, who require 60s 6d. Commercials have not altered, but E.S. ,d A.’s have better inquiry at £8 7s. The best immediate offer for National Bank of New Zealands is £7, sellers’ demand being £7 4s. Contributing National Bank of Australasias have been placed at the enhanced mice of £9 3s 6d. Unions are brighter with inquiry at £l4 17s 6d, sellers asking £l5. Now Zealand Breweries shares are still without inquiry, and sellers have failed to reduce their demand of 46s 3d. Inquiry for debentures has also fallen off, although they are still offering at 245. Insurances remain firm with an improvement in buyers’ offer* for New Zealands, for which quotations of up to 41s have been made. For Union Steams buyers are offering the increased price of 20s sd, but so far this offer has not attracted an answering quote. Westport Coals have been dealt in at 30s 3d, but the demand has since fallen off, although there are sellers in the vicinity of 31s. Ordinary Westport-Stocktons made a sudden increase in value during the week, a transaction following at 2s lOd. Inquiry has since been made at 2s 9d. Dalgetys are numbered among the improved stocks. They have been turned over at £l4 10s. National Mortgages have increased in value, and 'buyers are no-w prepared to give 74s 3d. There has been a noticeable improvement in both issues of New* Zealand Refrigeratings. _ For the paid-up shares buyers will give 17s 7d, and the contributing shares are wanted at 8s 4d. Inquiry for British Tobaccos at 40s 9d has not been answered. Buyers’ offer of 23s for Dominion Riffibers shows an improvement on last week’s quote. Milburn Limes were turned over early in the week at 32s 3d, and later business was done at 32s 6d. A premium of 10s ie offered for the new shares. No reply is made to an increased offer of 68s 9d for New Zealand Drugs. A parcel of Kawaraus was placed a couple of days ago at 6d, and they are now wanted at 5Jd without sellers. There have been transactions in Nokotnais at 255, but the closing sellers wanted considerably more than that price. An increase of Is has been made in buyers’ offer for both issues of Electrolytic Zincs. There has been no outstanding alteration in Government Stocks. Saturday, Noon. Business in National Bank of New Zealands at £7 2s 6d was reported, other lots being offered at £7 3s 6d. An improved offer of 63s for Standard Insurances failed to attract an answering quote. The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage:—

BANKING. Bank of Australasia—Buy £l4 14s Bank of New South Wales —Sei £4B 15s. Bank of New Zealand—Buy 60s, sei 60s 6d. Bank of New Zealand (D issue) —Buy 26s 6d. Commercial Bank—Buy 28s 6d, sei 28s 9d. E.S. and A. Bank —Buy £8 7s 6d. National Bank of New Zealand —Buy £7. sei £7 3s 6d. National Bank of Australasia (cont.) — Buy £9 2s. Union Bank—Buy £l4 18s. BREWERIES. N.Z. Brewereis, Ltd.—Sei 465. N.Z. Breweries Debent. —Sei 245. INSURANCE. National Insurance Co.—Buy 15s Bd, sei 15s lOd. N.Z. Insurance Co.—Sei 41s 6d. Standard Insurance Co. —Buy 635. SHIPPING. Howard Smith —Buy 27s 6d. Huddart, Parker (ord.) —Buy 475, sei 48s 3d. Huddart, Parker (pref.)—Buy 20s 9d. P. and 0. Deferred Stock—Buy £243. Union S.S. (pref.)—Buy 20s sd. COAL Kaitangata—Sei Is dis. Westport Coal Co.—Buy 29s 9d, sei 30s 9d. Westport-Stockton (ord.) —Buy 2s 9d. Westport-Stockton (pref.)—Buy 3s 7d, sei 4s 4d. ' LOAN AND AGENCY. Dalgety and Co.—Buy £l4 9s. Goldsbrough, Mort-—Buy 50s. National Mortgage—Buy 745. N.Z. Loan and M. (ord.) —Buy £lO3. Perpetual Trustees—Buy 625. Trustees, Executors and Agency—Buy 58s. Wright, Stephenson (ord.) —Buy 235, sei 255. Wright, Stephenson (pref.)—Buy 15s 6d. MEAT PRESERVING. N.Z. Refrigerating (paid)—Buy 17s 6d. N.Z. Refrigerating (cont.) —Buy 8s 4d, sei 8s 6d. Southland Frozen Meat (ord.) —Buy 325. MISCELLANEOUS. Auckland Amusement Park (ord.) — Sei 10s. British Tobacco—Buy 41s. Brown, Ewing (ord.) —Sei 30s 9d. Colonial Sugar—Buy £59 10s. D.I.C. (pref.)—Buy 20s 6d. Dominion Investments—Buy 235. Dominion Rubber—Buy 235, sei 30s. Donaghy’s Rope and Twine—Buy 345. Dunedin Stock Exchange Propty.—Sei 80s. Kaiapoi Woollen (pref.)—Sei 14s 3d. Kauri Timber—Sei 235. Milburn Lime and Cement—Buy 325, sei 335. Milburn Lime and Cement (new issue) —Buy 10s 3d prem. Mosgiel Woollen Co. (ex div.) —Buy £6 13s. N.Z. Drug Co. (£2 paid)—Buy 68s 9d. N.Z. Express (ord.) —Buy 20s 9d. N.Z. Paper Mills (ord.) —Sei 16s 3d. Otago Daily Times—Sei 80s. Smith and Smith (pref.)—Sei 17s 9d. Whitcombe and Tombs—Sei 725. Wilsons (N.Z.) Cement—Buy 38s 3d. MINING. Nokomai Sluicing—Buy 20s, sei 30s. Waihi —Buy Ils 6d, sei 12s 3d. Electrolytic Zinc (pref.)—Buy 32s 9d, sei 33s 6d. Mount Lyell—Buy 32s 6d. Upper Nevis—Sei 18s. Mahakipawa—Buy Is 6d. WAR BONDS. 4J per cent. Bonds. 1930—Sei £9B ss. 4J per cent. Bonds, 1938 —Buy £97 15s. 44 per cent. Bonds, 1939—8uy £97 15s. 44 per cent. Inscribed, 1938—Buy £97 15s, sei £9B. 41 per cent. Inscribed, 1939 —Buy £97 15s. 5 per cent. Postal Inscribed, 1929—8uy £9B 10s. 5$ per cent. Bonds, 1930—Buy £9B. 51 per cent. Bonds, 1930 —Buy £lOO 7s Cd. NORTHERN EXCHANGES. The following business was done - on Changes during the week:— Tuesday. Auckland. —Sales: Government War Loan (1941), 4) per cent., £97 17s 6d; Auckland Gas (1932) 5 per cent., £94; City of Auckland (1943) 54 per cent* £99 ss; Bank of Australasia,’ £l4 4s 6d; Bank of New Zealand, £3; Goldsbrough, Mort, 50s 3d; Auckland Gas, 23s 3d; Auckland Gas (cont.), 17s; Burns Philp, 42s 9d; Northern Steamship (cont.), 7s 9d; Kauri Timber, 21s 9d; Parker Lamb, 17s 6d; New Zealand Breweries, Ltd., 45s 9d; Moanataieri (paid), Is 4d; Kawarau, 6d; Waihi, 12s, 12s Id, 12s, 12s Id.

Wellington.—Sales reported: Bank of New Zealand, 60s; Westport-Stockton (ord.), 2s lOd; Auckland Gas, 23s 3d. Christchurch.—Sales: Commercial Bank of Australia, 28s 7d; National Bank of Australasia (£5 pd., cum div.), £9 2s 6d; E.S. and A. Bank. £8 5s 6d: Bank of New South Wales, £4B 2s 6d; Union Bank of Australia, £l4 16s; Queensland Insurance, 655: Dalgety and Co. (cum div.), £l4 10s; Goldsbrough, Mort, 50s 3d (three parcels). 50s'4d (two parcels); Now Zealand Loan and Mercantile (ord. Stock), £lO9 15s; New Zealand Refrigerating (10s pd.), 8s Id (three parcels) ; Tooths Breweries, 43s sd; Mason, Struthers (10s pd.), 9s sd; Mahakipawa, Is 6d; Mount Lyell (cum div.), 32s 6d. Sales reported: Bank of Australasia, £l4 4s 6d; New Zealand Insurance. 41s 6d (two parcels) ; New Zealand Refrigerating (10s pd.), 8s Id, 8s 3d; Waihi, 12s 3d. Thursday. Auckland.—Sales: 5 per cent. Inscribed Stock (1933), £lOO 15s; 5J per cent (1936). £101; Bank of New Zealand, 60s 3d; New Zealand Insurance, 41s 3d; Taupiri Coal, 27s 6d; Auckland Gas, 23s 3d; Northern Steam (cont.), 7s 9d; British Tobacco, 41s; Hayward’s Pictures, 20s; Kempthorne, Prosser, 69s 3d; New Zealand Refrigerating (cont.), 8s 4d; Wilsons Cement, 395; Ohinemuri, 7s Id. Wellington.—Sales reported: 5 J per cent. Stock (1936), £lOO 12s 6d; New Zealand Insurance, 4]s 6d; 4J per cent. Bonds (1939), £97 15s; 44 per cent. Bonds (1938), £97 15s; 54 per cent Bonds (1933), £lOO 10s: Bank of New Zealand, 60s (two parcels); Wellington Gas (ord.), 28s; Wellington Gas (pref.), 16s 9d. Christchurch.—Sales on ’Change: Commercial Bank of Sydney, £26 15s (two parcels). £26 16s 6d; Bank of Australasia, £l4 4s 6d; Commercial Bank of Australia, 28s 8d; Westport-Stockton (pref.), 3s 3d; National Bank of Australasia (£5 paid, cum div.), £9 3s; New Zealand Refrigerating (cont.), 8s 4d; British Tobacco, 40s lOd (two parcels). 40s lid, 41s; Perdriau Rubber, 32s 3d: Mahakipawa, Is 6d. Sales reported: Commercial Bank of Sydney, £26 16s; New Zealand Insurance, 41s 6d; New Zealand and River Plate, 30s; Union Steam (pref.), 20s 6d; New Zealand Refrigerating (cont.)7 8s 4d (three parcels), 8s 3d; New Zealand Drug Co.. 60s. Friday. Auckland.—Sales: War Bonds (1936), £101; 5J per cent. Auckland City (1940), £96; 64 per cent. Auckland Gas (1935), £103; Union Bank, £l4 17s; New Zealand Insurance, 41s 6d; Kauri Timber, 21s 9d; British Tobacco, 41s: Tonson, Garlick, 12s: Ohinemuri, 7s; Waihi, 12s. Wellington.—Sales reported: New Zealand Refrigerating (10s pd.), 8s 4d; Wellington "Woollens (ord.), £6 4s; 4j per cent. Stock (1938), £97 15s; Bank of New Zealand, 60s: Wilsons Cement. 395. Christchurch. —Sales on ’Change: Mahakipawa, Is 7d; Bank of Australasia (rights), 60s; National Insurance (cum div.), 15s 8d; Commercial Bank of Sydney, £26 17s 6d (two parcels) ; National Bank of Australasia (£5 paid, cum div.), £9 3s (two parcels); Union Bank, £l4 19s, £l4 18s 6d; Goldsbrough,.Mort, 50s 8d; Dalgety and Co. (cum div.), £l4 Ils (two parcels); Howard Smith, 27s sd, 27s 4d; New Zealand Refrigerating (cont.), 8s 4d (four parcels); New Zealand Breweries, 455; British Tobacco, 41s 3d (three parcels) ; Tooth’s Brewery (cum div.). 43s 9d; D.I.C. (pref.), 20s 9d; Holden's Motors, 31s. Sales reported: 54 per cent. New Zealand Government Bonds (1933). £lOO 12s fid: Commercial Bank of Australasia, 28s 9d; Canterbury Frozen Meat, £9; New Zealand Refrigerating (cont.), 8s 3d; Hayward’s Pictures, 20s. Saturdav. Auckland.—Sales: GJ per cent. Auckland Gas (1935), £103; Auckland Gas shares, 23s 3d; Kauri Timber, 21s 6d; New Zealand Express Company, 19s 6d. Christchurch.—Australian Bank of Commerce. 345. 34s Id (3 parcels): Commercial Bank of Australia, 28s 8d (3 parcels); Bank of New Zealand, 60s 2d; Christchurch Gas, 245; Holden’s Motors 30s lid, 30s lOd. 30s fid.

It was merely a coincidence that two women who stood for one of the Auckland suburban school committees recently had the same Christian names and surnames, the position being further complicated by the fact that one was a retiring member of the committee, while the ocher was seeking honours for the first time (says the Star). “How are we going to discriminate between the two when we vote? ” inquired a householder. In response to an invitation, both the women stood. “ The elder one,” began the chairman, by way of explanation, but what he said was lost in a roar of laughter, followed by renewed merriment when the women eyed each other severely. The householders solved the problem. Both women were elected to the committee.