FIRM TONE

Poverty Bay Herald, Volume LXIII, Issue 19029, 1 June 1936, Page 2

FIRM TONE

AUSTRALIAN SHAKE MARKETS SYDNEY. -May 29. Operations on the- Stock Exchange today covered, a wide range of issues, there was considerable support for brewery shares, and a lirni lone was maintained for chief industrial issues. Sales: Bank of New South Wales, £33; National Bank. £5 paid. £7 6s; Bank ot Adelaide. £6 14s; Adelaide Steam, 30s Sd ; Howard Smith, 19s 3d; Burns Philp, ' 71s; British Tobacco, 41s 9d. ~ ~ . Tooths, 52s 3d ; Toohevs, 31s 6d ; I artton Brewery. t-.s 9d; Coles, 80s; Queensland Brewery, 29s 4J,d; Drug Houses ot Australia, 3Us 7!d; Dun lop Perdriau, bis- Greater .I. D. Williams, bs 10,1; lleiirv Jones. 41s 3d; Millaquiii Sugar, 40s: Anthony Hordern, 18s 10.'.d. Lustre, 25; 3d; General Industries. 19s4.'d- Amalgamated Textiles, 10s 7(1; Edwards Dunlop, 42s 6d ; Queensland Insurance, 61s: Commercial Bank of Australia, 19s 6d; Hume Pipe, 19s 6d. broken Hill Proprietary, 655, new 41s- South Broken Hill, £5 13s; North Broken Hill. £8 8s; Zinc Corporation, 84s 3d; Placer Development. £5 12s 6d ; Emperor, 12s 8d; Loloma, 18s lOAtl. Unlisted sales: Woolworths, ordin■uies ex bonus issue, to-day. C 5 Bs, £5 lis 6,1. £5 19s 6,1 and hack to £5 15s. Morning sales included: Commonwealth bonds, 4 p.c. 1938. £lO2 16s 3d; 1941, £lOl 3s 9d; 1955. £lO2 10s; 1957. JUIOO 17s 6d; Toohevs Brewery, 31s 6,1: Anthonv Hordern. 18s Associated News. 22s 3d : British Tobacco, 41s 9d ; Broken Hill Proprietary, 655; Burns. Philp. 71s; Lustre. 25s l.'.d. MELBOURNE, May 2'.). Sales on the Melbourne Stock Ex change In-day included : Commercial Bank of Australia. P.) 3d; National Bank. £5 pair, £7 7s; Australian Iron lim l Steel, tiref.. 24s 3d; Australian Glass, 90s- Howard Smith. 19s 2d; All. Bvell. 24s Cd: Emperor. 12s 9,1: Ml, Morgan, 14s 6d. BUTTER STILL AT 103/CHEESF. PRICES HIGHER The market for New Zealand I.niter in London closed at the end of hisl week with ho alteration in the previously announced price of 103 s per cwt, equal to oyer Is per lb. f.o.b, At this level, however, the demand has slackened somewhat. Cheese prices continue to rise gradually, and today's quotations are 6d per cwl higher than quotations received at the end of the week. Messrs Joseph Nathan and Company report having received the following advice from London under Saturday s date:—"Butter. 103 s; the market- is quiet. Cheese, white 58s 6d. coloured 56s 6d; the market is firm."

MINING NEWS TESTING WORK AT WAIHI Under an arrangement entered into with the Waihi (now .Martha) Cold Mining Company, some two years ago, members of the geophysical staff of the New Zealand Department of Scientific > and Industrial Research spent the greater part of 1934 and the early part J of 1935 in making extensive magnetic, I seismic and electrical surveys on various parts of the company's property, with the object of determining the thickness of the recent strata and ascertaining whether the gold-bearing, andesites exist below these deposits. The results of the investigations undertaken in the hope of locating areas considered likely to prove reel-bearing. together with plans, were sent to the London office of the company, with a recommendation from the local management that at least two bore hobs should be put down with a view to testing the ground in portion of the properly. The recommendation met with the approval of the. directors, and a start was' made recently will, the first hole, the point chosen for drilling being] between the. Union and Favona. reef systems', adjacent to the Union hill, to the cast of "the recent mine working. A certain amount of development work was carried out on these reefs near the surface many years ago, the values mi the whole being on tho low side, and it now remains to be seen' whether the on* bodies will show improvement in depth. The hole, which is being put. down at an angle of 60deg.. will probablv be sunk to'a depth of between 400 ft. and 500 ft.

WAIKATO STOCK VALUES MORRINSVILLE SALE At the weekly Moirinsville slock sale on Friday there was only it small yarding of sheep, comprising mostly fat lambs. Competition was not us keen us last week, this no doubt being due to it reduction in the schedule. There was a good yarding of f;it cuttle, including several peris of medium .to light-weight steers. The entry comprised a large number of second quality and honor cows, for which late rates were maintained. ZINC CORPORATION DIVIDEND The directors of the Zinc Corporalion, Limited, have declared i! pnrtiei pining dividend of -S <>d per share on both preference and ordinary shares, less English income tax at lis IOJd ill the £l, making a total participating dividend of 4s (id per sharo for the year ended December SI, UK'S; also the first half fixed cumulative disitlend of 2s per share on ili>' preference slum's- for i In' year ended December ?,j, ld.'SC, less English iuc ins ai 2s I'd iii the ill. Roth dividends will be pa id on .fitly I, in English currency. The Rani; of New Zealand has receive,.! the following cable advice from London dated May 23 : -'•Wethers. ■■ -The marled is weak for light weights: heavy-weigliL! remain steady, Ewes.- -The reduction in price has improved the demnrid. Lambs. —The market is steady and no material change is expected yet. Quotations.—-

Wethers. Unlit to 4 7 ,d. lieavv 3j}d to 4d; ewes. 3d to 4Jd; lambs, twos 7il to 7,1 d. eights O.d to G]d. fours GJd lo 6-hl. seconds to 6|d."