MINING.

Otago Witness, Issue 3957, 14 January 1930, Page 32

MINING.

MAHAKIPAWA GOLDFIELDS. The directors of Mahakipawa Goldfields, Ltd. (Christchurch) have accepted the tender of Mr J. M. Stewart, of Dunedin, to sink several six-inch prospecting bores to an estimated depth of 130 feet, adjacent to the past year’s operations, in the hope of locating a more promising field. The claim is situated about 12 miles from Picton, midway between Queen Charlotte and Pelorus Sounds. Boring ■will be resumed immediately, all plant having been placed on the site. EMPIRE MINING CONGRESS. The third triennial Mining and Metallurgical Congress will be held in South Africa this year, commencing March 24, ■when the congress will be officially opened at Capetown, concluding on May 9. During that period, the delegates will be conducted on a tour through the Union and the two Rhodesias, the total distance to be covered being about 7000 miles. All the important mining centres will be visited and the delegates will have the opportunity of seeing modern equipment in use. There will also be technical sessions at which general discussions w ill be held. TARANAKI OILFIELDS. GISBORNE, January 7. Taranaki Oilfields report: Gisboine No 2 well drilled to 3250 feet, last 50 feet very hard, being of limey sandstone: gas now smells strongly of petroleum; small quantity of water making below 3200 feet; now endeavouring to mud this off. January 9. The latest report of the Taranaki Oilfields. Ltd., is as follows:—Gisborne No. 2 well Avater shut off; now running core barrel. » DUNEDIN STOCK EXCHANGE. Thursday Afternoon. The Dunedin Stock Exchange reopened to-day after the holidays, ami business seemed to be fairly quiet. A parcel of Commercial Banks (hanged hands at 25s 9d, buyers later offering 25s 3d. The market closed, however, with sellers firm at 265, and no further business was recorded. There was also a reported sale of National Mortgages at 85s. AA hen the market closed, there was a seller at 86s, but no buyer came forward- there was little demand tor stocks in most of the sections. Friday Afternoon. Little business lias been done on the Dunedin Stock Exchange since it reopened after the holidays on Thursday. There was a sale of Commercial Banks at 25s 9d. This was the figure offered in December, when sellers were asking Id more. The market (dosed to-day with sellers asking 26s 3d and no buyer forward. National Mortgages are the only other shares to have seen so far, a sale having been reported at 85s. Buyers were offering this price when the market closed before the holidays, and thej’ were on offer after the sale took place at 80s, without any buyer being attracted. Union Banks have been asked for at £l2, with sellers asking 10s more, but no business has been done. Kaitangata Coals hare been in demand at 9s discount, but sellers have failed to come forward. There was an offer ol 30s 3d for AA estport I oaks to-day. but no response was made bv sellers. The buying offer for Dalgctys to-day was £l2 13s. sellers demanding £l3 ss. British Tobaccos were in demand last month at 44s 9d. and. the buying quotation this week was 43s 9d. It firmed slightlv to-day. however. 44s being offered, but sellers were firm at 45s (id. Buvers of Bruce Woollen ordinaries have been offering 12s, but sellers would not take loss than 14s. There was an offer ot S«s 6*l to-day for New Zealand Breweries shares, the selling quotat 'on being 88s 6(1. ’J here ■v is little activity in the other sections. Saturday Morning. There vote two sales of Kildare on the Dmmi’in Stock Exchange this morning at Is (id and Is 5(1. AA hen the market closed, there was a margin of Sd between buyers' ami sellers’ quotations, the offer being Is and sellers demanding Is Bd. Time was also a reported sale of National Mortgages at 8.55. no further inquiries being made. Bank of New Zealamls were on offer at 59s fid v. ithout attracting a biivcr. and an offer of £l2 10s for Dalgety's failed to bring forvard a s( lUr at less than £l2 16s (id. Buyers of Staples Breweries offered 55s but sellers would not take less than 56s The following are Saturday morning's buying and selling quotations which are sub (■• t tc the usual brokerage: — BANKING. Rank of New Zealand — Sei 59 s fid. Commercial Bank —Sei 25s 96. INSURANCE. National Insurance Co. —Sei 15s fid. Standard Insurance Co. — Scl 64s 9d. A.l'.A. Insurance —Sei 9s. SHIPPING. Huddart. Parker (pref.)—Buy 255. U.S S. Co. (pref.)—Buy 20s 3d. scl 21s. COAL. Kaitangata—Sei 9a disc. West port Coal Co. —Buy 30s 6d. Westport-Stockton (ord.) —Sei 3s. LOAN AND AGENCY. Dalgcty and Co. —Buy £l2 10s, sei £l2 16. i 6d. Perpetual Trustees—Buy 68s. Trustees, Ex. and Agency—Buy 60s. MEAT PRESERVING. N.Z. Refrigerating (cont.) —Buy 3s 9d, •el 4s 6d. South Frozen Meat (pd.)—Sei 38s. South Otago Freezing—Scl 38s. MISCELLANEOUS. Brown, Ewing (ord.) —Buy 30s. Brown, Ewing (pref.)—Buy 20s 3d. Bruce Woollen Co. (ord.) —Buy 12s. D.I.C. (pref.)—Buy _2ls 3d. Vonaghy’s Kope and iwine—Buy 355. Dunlop Perdriau Rubber—Sei 235. Eclipse Petrol —Buy 9s.

Milburn Lime and Cement—Buy 35s 3d, sei 36s 3d. National Electric —Buy 9s, se] 10s 9d. N.Z. Drug Co. —Buy 73s 6d. sei 745. N.Z. Farmers’ Fertiliser —Buy 21s 6d. N.Z. Guarantee Corp.-—Buy Bs. N.Z. Paper Mills (ord.) —Buy 20s 9d, scl 21s 6d. Otago Daily Times—Sei 725. Wilsons (N.Z.) Cement —Sei 435. BREWERIES. N.Z. Breweries, Ltd. —Buy 87s. N.Z. Breweries Debent.—Buy 28s 2d. N.Z. Breweries Stock —Buy 28s. Staples Brewery—Buy 555, scl 565. MINING. AA’aihi Grand Junction—Buy Is. Mount Lyell—Sei 38s 6(1. Big Beach—Buy 3s, sei 7s. Kildare—Buy Is, sei Is Bd. Oljarito—Scl Is 8d prem. M inding Creek—Sei Is 3d prem. Winding Creek (pd.)—Sei 2s. Stoney Creek —Buy 2d prem., sei 6d prem. WAR BONDS. 51 per cent. Soldiers’ Bonds, 1933—5 cl £l(i((. 41 per cent. Inscribed, 193S —Sei £lOO 5 s. SALES ON ’CHANGE. The following business was done on ’Change during the week: — January 9.- Sale: Commercial Bank. 25.-: 9(1. Sale reported: National Mortgage. 85s. January 11.—Sales: Kildare, Is 6d, 1 1 sd. Sale reported: National Mortgage, 85s. NORTHERN EXCHANGES. Ihe following business was done on 'Changes last week:- - Thursday. Auckland.—-Sales: New Zealand Insurance, 44s (id (two parcels); Crown Br eweries. 9s (id; Tar anaki Oil, 5s lOd. Christchurch.—Sales: Bank of New South Wales, £4O 12s 6d: Union Bank of Australia (cum. div.). £l2; New Zealand Breweries, 87s 9d (three parcels), 88s; Staples Brewery, 54s 3d. Sale reported: National Mortgage, 85s. Friday. Auckland. —Sales: Bank of New South V\ ales, £4O 15s; Kauri Timber. 16s; New Zealand Breweries, 87s 6d; Staples. 555; British Tobacco. 455; Milne and Choyce Debenture Stock. 27s fid. Christchurch.—Sales: New Zealand Government 54 per cent. Inscr. (1933), £99 10s; Goldsbrough. Mort, 36s 6(1; Dalgety ami Co., £l2 15s (two parcels); Stoney Creek (6d paid), 9d. Sales reported. New Zealand Government 54 per cent. Inscr. (1930). £100; Union Bank of Aust, (cum div.), £l2; New Zealand Refrigerating (10s paid), 4s (two parcels) ; New Zealand Breweries, 88s; British Tobacco. 44s 9d; Mount Lyell, 38s 3d; New Zealand Government 54 per cent. Bonds (1936). £99 ICs "(two parcels >. Saturday. Auckland.— Sales: Dalgcty and C0..'£12 15s; British I obacco, 45s I'd; Farmers’ Trading (late sale Friday), 8s 4d. Wellington.—Sales reported: Union Bank of Australia, £ll 17s 6d: Colonial Sugar. £46.