A Quiet Tone

Sun (Auckland), Volume III, Issue 842, 10 December 1929, Page 10

A Quiet Tone

Market on ’Change

l!y “Noon Call.”

A QUIET tone is again registered on ’Change, and indications are that there is little possibility of the market recovering to any great extent until after the holidays.

Fluctuations Price movements, shown by a comparison of sales on the Auckland market with the price at the time of the previous recorded sale, include: British Tobacco, fall of 4d. * * * Business on the Auckland Market Transactions on the Auckland market over the past 24 hours have included: Yesterday afternoon. —Borough of .Mount Eden, 1961, per cent., £103; Partners’ Auctioneering, £ 3 18s;'Golds-* l>rough, Mort. (rights), 5s 3d; Renown • pref.. new issue), 3s; Auckland Gas, 2.'..--; Devon port Steam, 22s 9d; British Tobacco, 455. '°his morning.—British Tobacco, 43s Mount Lyell Mining. 41s sd; Borough «»f Mount Albert, 5J per cent., 1960. L 104. Market at Midday A quiet tone was registered in the market at midday, and the general trend of prices is downward. In the banking group sellers continue to predominate on an easier market. The general depression is at last 1 >f ing reflected in the coal group. Pukeiniros are not quoted. Renowns are offered at 17s without receiving support from buyers, Grey Valleys are meeting with a slightly weaker and. *als, timber and breweries are , ected. wide range of Government and l bodj* securities meets with a iy demand. 5 Managers’ Reports ne managers report as follow; burnia. —Satisfactory progress is x made with development works, leading stope on the main Orlando has been carried along for a dise of 87 feet and main timbers put e level. A start has been made to p out the water in Gillan’s winze le hangingwall branch of Orlando

lode. The rise on cross leader from drive north on the hangingwall branch of Orlando lode has been risen six feet, a total of 68 feet. The reef here has opened out to two feet wide and looks very well, carrying nice bright mineral blend and silica; dabs of gold were seen in the ore. Kawarau Gold Mining Company The position in regard to the future : of the Kawarau Gold Mining Company j is still indefinite, according to the directors’ annual report. A satisfactory settlement has not yet been reached with the holders of the claim leases. As modifications of the terms originally proposed, it has now been agreed that every claim holder will be given reasonable opportunity to become a party to the amalgamation, that those claim holders who do not wish to come in or are unable to do so will be relieved of further liability under their leases, and that they in turn will release the company. It has been agreed that £SOO will be advanced out of the £IO,OOO deposited with the Public Trustee to cover the formation expenses of the new amalgamated company, and that any subsequent costs of transferring the assets to the new company will be paid as incurred. * * * Taranaki Oil Company The Taranaki Oil Company, Ltd., reports: Gisborne No. 2 Well. —Running drill pipe into well and circulating mud; very slight show of oil in return of mud. Dividends Payable Due. I Mount Lyell—final. 3a 9d a share Dec. 18 j Kauri Timber—3 p.c. .. About Dec. 13 I Loan and Mercantile Agency Co.—final, pref.. 2$ p.c. and ord.. b p.c Dec.