COMMERCIAL

Taranaki Daily News, 19 July 1929, Page 16

COMMERCIAL

TARANAKI STOCK EXCHANGE. New Plymouth, July 18. —Sales: National Bank of New Zealand, £7; Fertilisers, 22s 7d: New Zealand Inscribed Stock, per cent., 1933, £lOl. BETTER BUSINESS YEAR. THE TARANAKI STOCK EXCHANGE REVIEW AT ANNUAL MEETING. His forecast of a business year better than 1927-28 had been verified, reported the president. Mr. J. S. S. Medley, to the annual meeting of the Taranaki Stock Exchange in New Plymouth yesterday The transactions in shares had proved to bo more satisfactory, but there was still i am for improvement, the president continued. Government stock and bonds, bank and insurance shares had been in good demand during the year, and generally the shares of the principal stock companies had been firm. Last August the Egmont Collieries had been

placed on the market and was successfully floated, but was not at present quoted on the Stock Exchange list. Coal Oil (N.Z.), Limited, had completed the Elbof geophysical survey of the Taranaki district, and its reports as to commercial oil being found were most encouraging. It would, in the course of another month or so, commence drilling operations in some parts of the Omata district. Taranaki Oil Fields, Ltd., had been reconstructed under the title of Taranaki (N.Z.) Oil Fields, N.L. (no liability), and the reports of its drilling operations during the year had appeared in the exchange's stock and share lists.

The operations of the Blenheim Oil Wells Reclamation Co., Ltd., had resulted in a flow of oil being obtained, at the end of January of this year. The flow was checked by a neavy explosion of gas which ruined the bore. The directors after due consideration decided to drill another well 130 feet away from the old site, and a contract had been let for that purpose. The well at the present time was 306 feet down with S'/tin, hole to take 7in. casing. The resignation of their seats on the exchange by Messrs. E. P. Webster and J. Prior was reported with regret by Mr. Medley. The officers elected were: President, Mr. J. S. S. Medley; vice-president, Mr. C. B. Webster; secretary, Mr. D. McAllum; executive, Messrs. Medley, Webster, P. S. Carroll, S. E, Nielson; C. H. Wynyard, E. Griffiths and McAllum. Retiring officers were thanked for their services.

THE SHAREMARKETS. By Telegraph.—-Press Association. Auckland, Last Night.—Sharemarket sales: National Bank of New Zealand, £7; Bank of New Zealand, £3 Is fid; Goldsbrough Alort (late sale yesterday), £2 7e 3d; British Tobacco, £2 8s 6d;Electrolytic Zinc (ord.), £1 16s 9d; Taranaki Oil, 3s; Waihi, Ils Hid. AUSTRALIAN PRODUCE. LATEST MARKET QUOTATIONS. By Telegraph—Press 4ssn. —Copyright. Received July 18, 8.20 p.m. Sydney, July 18. The following are the latest market quotations:— Wheat.—At country stations, 5s per bushel; ex truck at Sydney, 5s 7d; to-day’s rise being threepence per bushel. Flour. — £l3 pt • ton. Pollard.— £8 per ton. Bran.— £7 5 C per ton. Potatoes. —Tasmanian, £l9 to £2O per ton; local, £18; Victorian, £lB. Onions. —Victorian Spanish, £l6 per ton. Gate. —White, 4s 9d per bushel. Alaize.—ss 4d per bushel. Adelaide prices are:— Wheat. —Growers’ lots, 4s 10x1 per bushel. Flour.—Bakers’ lots, £l2 5s per ton. Bran. — £6 10s per ton. Pollard. — £7 per ton. Oats.—Algerian, 3s 3d per bushel.