COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 18954, 3 March 1936, Page 9

COMMERCIAL

IRON IN NEW BRITAIN BROKEN HILL OPTION Tho Eastern Prospecting Company. N.L., lias granted an opiion over its iron ore deposit properties in New Britain, Bismarck Archipelago, to the Broken Hill Proprietary Company, Limited. The Eastern Prospecting Comppny states that should the option lie exercised a lump sum in cash is payable, in addition to a royalty for every ton extracted. The properties comprise about 700 acres. Tho company states that the Broken Hill Proprietary Company estimates that ils minimum requirements will he not less than 2,000.000 tons yearly. The option period is a little more than 12 months. BRITISH TOBACCO QUARTERLY DIVIDEND INCREASED The British Tobacco Company (Australia), Limited, has advised the Stock Exchange Association that a quarterly interim dividend of 1J per cent had been declared, payable on March 31. The dividend represents an increase ot one-quarter per cent. For the last four years the quarterly dividend was 11, per cent., or at. the rate of 6 per cent per annum. For years up to 1927, when the company was reconstructed, the distribution was 12 per cent per annum. In that, year the company’s shares in subsidiaries were written up £2,324,131, and that amount capitalised. In 1928 the distribution was 10 per cent, in 1929 1.1 per cent, and in 1930 12 per cent.

TRADE RELATIONSHIPS CHANGES OCCURRING GERMANY’S WOOL BUYING The Australian Associated Press’ Berlin correspondent says that the official tables of wool imports show that 3.1,000 tons of South African wool wore bought; in 1935, which is twice as much as from Australia, compared with 27,000 tons in 1930, when 07,000 tons were bought from Australia.

The Berliner Tageblatf, referring to the German disinclination to buy more from any country than she sells to it, says: “Owing to the unwillingness of Australia and New Zealand to buy German industrial products, South Africa had a unique opportunity of increasing her German trade.” The journal predicts tho permanence of the profound changes in trade relationships now occurring.

PRICES FULLY FIRM SYDNEY WOOL SALE SYDNEY, March 2. At the wool sales, 11,483 bales were offered and 10,423 sold; also 902 privately. Competition was keen and prices fully firm. Greasy merino made to 23 d. Last week's average price was £l9 12s Bd. per bale, or JO.(ul pur lb. BEST PRICES SINCE 1929 AMBERLEY EWE FAIR (Per Press Association.) CHRISTCHURCH, last night. The best prices for ewes since 1929, the boom year in sheep values, were paid at the Ambcrley Ewe Fair today. This is the Jirst, Ewe Fair of the season, and may be taken as an index of prices for future fairs. The sheep were mostly station lines and all were in excellent condition. The prices were .'is to 3s 0d a head better than the recent Addington values, and about Os a head belter than last year. The best prices were 43s for 2-th Corricdnlcs, 40s fid for 2th half-breds, and 30s for 4-year halfbreds. Five-year-old owes brought 255.

RUATORIA STOCK SALE STRONG MARKET FOR EWES There was a strong demand for both sheep and cattle at the Ruatoria stock sale held yesterday by the Gisborne Sheepfarmers’ Frozen Meat and Mercantile Company, Limited, and -Messrs. Williams and Kettle, Limited. Between 3000 and 4000 sheep and over 400 cattle were yarded, and met with a ready sale under keen competition. Buyers were present from (jpotiki and Gisborne, and lilted a large percentage, of the yarding.' The number of ewes yarded was not very large, the sheep section comprising mainly lambs and wethers, hut the ewes, particularly the older ones, met with a strong demand on a parity above Matnwhero rates.

Prices ranged as follow's Sheep.—Fat wethers, to 225; store wethers, with plenty of condition, 19s to 21s 6d; good iambs, 15s 6d; a particularly good pen of breeding ewes, 5-vr, 22s‘6d.

Cattle.—Good 3-yr U> 4-yr bullocks, to •£7,65; yearling steers, £ls 15s; tat. cotvs, to £4 10syearling heifers, ,C 4. GOLD MINING RETURNS Talisman Dnhbo Gold M ines, limited, report that. 61 tons 4cwt. was treated at the Golden Dawn battery for an approximate realisation of £5lB. The Worksop Extended .Gold Dredging Company, Limited, give the following official return for the week ending Febru--527 : —Yield, 300 z.; hours dredged, : yards dredged, 9800,

MOUNT MORGAN PRODUCTION Mount Morgan, Limited, has advised the Stock Exchange Association of the following production for the four weeks eiqled February 19:—Total production for period: Gold, 35030 z.; copper, 138 tons. Details are as follows : Ore quarried, 21,718 tons; concentrator treated. 21.760 tons, assaying s.lldwt. gold and ,75d per ewt. copper. Concentrator produced 880 tons, estimated to contain 3503a.':. of gold and 138 tons copper-

SYDNEY STOCK EXCHANGE

SYDNEY, Feb. 29. Stock Exchange sales to-day included: Commonwealth bonds, 3j* per cent, 1949, £97 7s 6d ; per cent, 1943. £95; per cent, 1942, £IOO 13s 9d; 3-® per cent,

1949. £IOO 15s: 4 per cent, 1941, £lO2 15s; 1944, £lO3 ss; 1947, £lO4 7s 6d; 1950, £lO2 7s 6d ; 1953. £lO2 12s 6d: 1957, £lO3 12s 6d; 1961, £lO3 15s; Commercial Banking Company of Sydney, £2l 12s; Commercial Bank of Australia, 20s 6d; Tooths Brewery, 555; Anthony Hordern, 21s; Associated News, pret., 24s 3d ; Australian Glass, 86s 6d ; British Tobacco, 43s 3d‘; Broken Hill Proprietary, 265; ditto, second instalment paid, 37s 3d; Henry Jones, 41s 6d; Howard Smith, 18s l£d; James Stedinan, 17s 10id; Wilcox Mofflin, 11s 9d; Winchcombe, 335.