GOLD SHARES

Waikato Times, Volume 114, Issue 19013, 2 August 1933, Page 7

GOLD SHARES

Stock exchange rise

AN UNSATISFIED DEMAND.

MANY INQUIRIES FROM LONDON

(By Telegraph.—Special to Times.)

AUCKLAND. Wednesday. There was a strong rise in gold » shares at the noon call of the Exchange, Blackwaters, Consolidated Goldfields, and Waihi Mines leading the movement. • / . , Following a reported sale of BlacKwaters at £1 7s 3d, there was a rush of bidding, which forced buyers limits up to £i Bs, without bringing any response from holders. \ *■ To some brokers ihis movement, came as a surprise. It was due almost entirely to the effect of the London demand, which has been unsatisfied during recent months. Local holdings of shares have been quickly taken up as they became available on a steadily soaring market, and there is. evidence to-day of a scarcity of supplies. , In less than three months the price has risen by more than 7s a share, and the rise compared with a year ago, when transfers were made at 13s, is^ T’AmnT’VohlP The (associated holding concern oi .Consolidated Goldfields shared in t£e Benefits of the rise, and shares were s»ld at 6d in advance of recent values. Highest for Several Years. Waihi shares also have felt the stimulus of London buying, and it is probable that there will be a renewal of demands from the same quarter that accounted for to-day’s ,new peak price of £1 3s ‘9d, the highest for sevgtsll years. Furtherquotations showed that buy-, ers were still ready to give 3d below the market, while sellers had gone up to £i 4s Od. ... i, Several other issues in the goldmining seotion showed strength and a rising tendency in values.