Commerce, Mining, $ Finance

Evening Star, Issue 21750, 19 June 1934, Page 7

Commerce, Mining, $ Finance

DIVIDENDS DUE. Devonport Steam Ferry—final, 2j p.c., making 5 p.c. per annum June 21 Gear - Meat—interim, p.c. ... June 21 Australian Glass—ord. and pref., ■ . 9 per cent. June 27 Goldsbrough, Mort—6 p.c. p.a. ... Jus# 28 North Broken . Hill—ls 6d per share payable Melbourne ... Jrine 20 Consolidated Goldfields—interim, 9d a share in Brit. cur. ... June 30 Blackwater Mines—final, Is 6d a share, tax free, in Brit. cur. June 30 Morris, Hedstiom, Fiji—final of 2 per cent., making 4 per cent. per annum June 30 British Tobacco—quarterly, ord., lj- p.c. ... ... June 50 Queensland Insurance—interim, at rate of 10 p.c. per annum ... July T National Mortgage—interim, 2j per cent. .... ... ... .... ... July 2 N.Z. Breweries—Final, 3j p.c., half-year ... July

AUSTRALIAN STOCK EXCHANGES ! Press Association —By Telegraph -Copyright. SYDNEY, June IS. On, the Stock Exchange it has beconie almost a habit recently to devote a day to gold shares, and the morning and afternoon calls are unduly prolonged by this class of business. A feature to-day was a setback for Tullamore gold shares, regarding which there had been considerable activity. These shares a month ago were quoted at 33s 6d. but to-day, after opening at 14s 6d. they slumped to 12s, due to a heavy hear raid, .but solid Western Australian ventures maintain a strong front. The investment market is irregular, and the picture theatre group weakened owing to the publication , on Saturday of the Royal Commission’s report against restriction of further ciuema licenses for additional theatres. Additional sales were:—Bank of New South Wales, £3O 10s; National Bank (£5 paid), £5 : Colonial Sugar, £66 19s; Associated News (pref.), 23s 3d; Burns, Rhilp. 535; Australian Gas (A),.£7 17s; Tooth’s, ,42s 9d; Newcastle Gas (C). 13s; Australian Glass, 50s: Dunlop Perdriau. 18s; Wilcox. Mofflin, 12s 2d; David Jontfs, 38s; Anthony Hordern, 14s 2d; General Industries, 12s 3d; John M'Grath, 29s 3d; Mount Morgan. 275; Broken Hill Proprietary. 455; Kuala Kampar, 17s; Rawang Tin. 9s Id: Larut, 14s 6d ; Katn Tin, 29s 6cl; Tullamore Gold, 1.25; Mount Cooper, 10s Id. • , . MELBOURNE, June 17. ‘Herald and Weekly Times,’ 51s: Howard Smith. 14s: Electrolytic Zinc. 25s 6d; Mount Lyell, 21s.

CHILLED EGGS [Per United Press Assocmtio.v.l WELLINGTON, June. 19. The executive of the Wellington provincial council of. the New Zealand Poultry Association at. a recent meeting passed the following resolution :—“ That in the opinion of this executive the menace' of chilled and preserved eggs being marketed as fresh eggs demands immediate and drastic action oh the part of the New Zealand Poultry Board.”. It was alleged that chilled eggs were finding their way into the hands ’of dealers as fresh eggs, and were being- retailed as such and that the mixing of preserved, new laid, and chilled eggs, was being’practiced.

CHRISTCHURCH CITY LOANS CONVERSION AND CONSOLIDATION The City Council last‘ night carried a resolution agreeing to convert all the City Council loans and to consolidate all the loans Tor special areas. The proposals were opposed by the non-Labour members of the council, who declared that while conversion would be beneficial, consolidation would penalise Ui« central area, where most of the big ratepayers had premises. The resolution Was carried on the voices after an amendment to refer the proposal back to the committee was defeated by 8 votes to 7.—Press Association. BRITISH CUNLOP RUBBER DIVIDEND RATE DOUBLED The net profit of the Dunlop Rubber Company, Great Britain, for 1933 was £1,512,866, an increase of £652,789 on 1932. The sum of £403,956 was placed to taxation reserve and £200,000 to general reserve, making the total of the latter £1,124,843, after writing .off £292,137, costs of the redemption of the first” debenture' stock and making. the new issue last year. Among other new features the balancesheet shows for the first time a reserve for contingencies, which hitherto bad been kept as an inner reserve. It amounts to £643,260, against £539,376 in , the previous year. The total reserves are £4,346,887, as, against £4,226,902 a year ago. The dividend for the year is raised from's to 8. per cent., and the amount carried forward is increased from £442,208 to £578,415. The report showed that trading conditions showed a marked improvement, particularly in the motor and cycle industries but .abroad conditions remained very unsettled aud difficult. That, of course, was inevitable until effective steps' had been taken to stabilise currencies and restore free exchanges. The company’s profit on exchange during the year was £203,766.

ELECTROLYTIC ZING COMPANY The production statement of the Electrolytic Zinc Company for the four weeks ended May 30 is as follows, the figures for the preceding four weeks being given-in parentheses:—Zinc, 4,150 tons (4,120 tons) ; amount used at works, 50 tons (50 tons) ; lead, 130 tons (155 tons); silver, 13,8000 a (16,700 oz).

JHE SEARCH FDR GOLD MATAKI RETURN r l'he Mataki return was 3Soz for 130 hours.—Auckland Press Association. TALISMAN DUBB9 REPORT The Talisman Dubbo Company reports having treated 48 wet tons (equal to 43 drv tons) for an actual realisation of £329. GILLESPIE’S BEACH DREDGE The directors of the Gillespie s Beach Gold Dredging Company report as follows for the period ended June 8: Up to date the dredge has been_ In operation for twenty weeks, and during this period the following results have beeu obtained:—Average gold yielded, 42!0z per week; average yardage, 89 per hour; average hours .worked, 109 per week. The hours worked and yardage recorded are much below expectations, and this has affected the return of gold. The dredge is now getting out of the timbered country, and in about eight weeks it is expected to reach the south cud of the claim. The dredge will then take the outside cut (near the seashore), when it will get a straight run in easily worked ground which is clear of growing timber.

WETHERSTONES COMPANY The gazetted statement of affairs of the Wetherstones Gold Mining Company Ltd. states:—Date of registration, October 5, 1932; nominal capital, £65,000; amount paid up in cash, £42,000; number of shareholders at the time of registration, 10; present number of shareholders, 520;- number of men employed, 2S; amount expended in carrying on operations since last statement, £40,222 13s 4d; total expenditure since registration, £40,222 13s 4d; amount of cash at bank, £1,772 16s 2d; amount of debts owing by the company. £2,390 15s 9d.

WAITAHU COMPANY The gazetted statement of affairs of the Waitahn Gold Mining Company Ltd. states;—Date of registration, March 17, 1932; nominal capital, £40,000; capital actually paid up in cash, £34,000; paid-up value of scrip given to shareholders on which no cash has been paid, £6,000; number of shareholders at time of registration. 7; present number of shareholders. 371; number of men employed, 12; amount expended :n connection with carrying on operations since last statement, £20,605 6s lid; total expenditure since registration, £34,736 12s lid; amount of cash in bank. £B4 0s lOd; amount of debts owing by company, £1,798 19s Bd.

BELL-KILGQUR COMPANY The secretary of the Bell-Kilgour Gold Mining Co. Ltd., advises receipt of report from the manager, dated June 16, which reads as follows :—No. 3 north branch was advanced 17ft 6in, values were low on a rising “ floor. ” No. 4 west crosscut was driven 27ft Gin, where it connected with north branch drive, so securing ventilation at this point, values were low. No. 4B drove 4ft 6in for a little gold, No. 7 west drove 28ft, samples showed a little fine gold all the way. Nor East block boundary drive was advanced 14ft, values very irregular; 161 yards of wash treated yielded 3oz 16dwt 17grs. DOLLAR AND FRANC Press Association—By Telegraph—Copy right. LONDON, June 18. (Received June 19. at 11 a.m.) The dollar is quoted at 5.04* aud the franc at 76 7-16. PRICE OF GOLD Press Association—By Telegraph—Copyright. LONDON, June 18. fßeceived June 19. at 11 a.m.) Fine gold is quoted at £6 17s 9d per oz. FERTILISER SUBSIDY WILL IT BE CONTINUED ? [Per United Press Association.] WELLINGTON, June 19. The subsidy of five shillings the ton on the manufacture of fertiliser will expire at the end of this month. The Minister of Agriculture meets to-day the representatives of the manufacturers and will discuss with them the price of superphosphate, and the question of the continuance or otherwise of the subsidy.

THE SHARE MARKET

DUNEDIN STOCK EXCHANGE Business this morning was limited to {told mining , stocks. Moonlight Nelson Greeks and Nevis Diesels changed hands at very substantial discounts, while Nokomais had business. at the improved figure of 3s, and there was further business on a rising market. Waitahus had reported business at 4s 2d. , . , • The market for banking shares continued very quiet.. The best buyer for New Zealands- was 495. Westport coals had an improved buyer arid the Westport-Stockton issue also had good inquiry. : ■ Dalgety’s were for sale at £lO ss, and National Mortgage shares had a buyer at 58s, with sellers firm at 625. Investors still show a keen desire to hold meat preserving shares, and sellers are very firm. The better class industrial stocks are also very firm. Ih the'gojd mining section, Nokgmais attracted' the ■ greatest attention, while / Mount Morgan’s had a margin of lid between. the quotations. A seller of 4 pet cent. 1946 Stock appeared at £lO7. but buyers were not prepared to offer more than £lO6. SALES. On ’Change.—Moonlight Nelson Creek, sJ’d; Nevis Diesel; 3jtl (2); Nokomai, 3s (2), 3s Id. Reported.—Waitahu, 4s 2d. .After call;—Nokornai, 3s 2d.

Quotation* as- nndei ; Buyc rs. Sellers. £ «. d. £ s. d. BANKING— ,. Bank of Australasia 11 15 0 ■_ (■Bank of New Zealand 2 9 0 2 SO 0 'Bank of New .Zeals m (;Long ‘•.D’’. ... ;. _ 1 14 6 Commercial; Bank ■. > • 0 16 0 0 16 3 E.S., and'A. . Bank 5 4 0 National Bank N.Z 4 , 0 0 Union Bank of Aus- . , tralia,' Ltd. ... .. 10 0 0 INSURANCE— National Insurance Co. .... ... 1 0 0 .N.Z. Insiir. Co. .. 3 3 0 SHIPPING— • Huddart, Parker (pref.) ...• ... 1 6 0 — U.S.S. Co. (pref.) .. 1 6 0 — COALWestport Coal Co, ■ .. 0 17 3 _ Westport-Stockteu (ord.) . . ... . ... .. .02 4 ■ Westport-Stock ton (pref.) ... ... .. 0 2 10 — LOAN AND-AGENCY Dalgety and Co; .; 10 5 0 G61dsboiou?i), Moit — 1 11 6 National Mortgage . . 2 18 0 3 2 0 N.Z. Loan and Mercantile (ord.)’ — 59 ■0 0 N Z; Guarantee Corporation ...... .. 0 4 3 — Wright, Stephenson (pref.) ; ... ... ;. 0 19 6 ' — MEAT PRESERV1NGN.Z' Refrigerating (paid) . ' ... ,. 0 19 4 0 19 9 N.Z. Refrigerating (cdnt.) .1. ... .. 0 9 3 0 9 6 Southland Frozen Meat (paid) . ... ... .. . 3 10 0 , 3 15 0 Southland Frozen Meat (cont.)' ,.i ... .. 114 6 Southland Frozen Meat , (pref.) ■■'-...■, ... .;. 3 10 0 •— South Otago ..Freezing 6. 0 0 — MISCELLANEOUS— ' Broken Hill Prop. ... ' — 2 5. 6 Broken Hill South ... 3 11 6 — Brown, Ewing (ord.) 0 19 0 — Brovro, Ewing (pref.) 1 0 6 — Bruce Woollen Co. : (ord.)' ... : 0 9 6 — Brute Woollen Co. (pref ) • ... .. 1 1 0 Crystal Tee Co. — 1 19 0 D.I.C. (ord.).; ... ... 0 14, 6 — D.l.C. (pref.) ... .. 1 4 3 1 5 6 Dominion- Fertiliser 0 18 2 — Dominion Fertiliser Debentures ;... ... 104 0 0 — Dominion ; Rubber .. 1 4 8 — Dunediii-Kaikorai. Trams. ... ■1 16 0 ■Dunedin Stock Exchange ■ ' Proprietary , ... ,. ■1 19 6 2 5 0 . Kaiapoi Woollen (ord.) ’ .... ... .. 0 10 0 — Kaiapoi Woollen (cont.)- -.;.■■ ... ... — 0 4 0 Kaiapoi Woollen • '(pref.) ■ 0 18 3 0 19 6 Milburn Lime and v Cement ... ... ... 1 12 3 Mosgiel Woollen Co. 10 0 0 M-Leod Bros 28 .j, 0 0 Mount Lyell ' ... ... 1 0' 7 N.Z. Drug .Co. ... , ... 3 16 0 N.Z. Malay ‘Rubber • (pref.) .... ... ... 1 2 0 — N.Z. Paper Milts ... .1 9 8 ‘ Otago ‘ Daily Times ’ 2 7 0 Regent. Theatre ■ ... — 1 0 6 Sinith and Smith ... ... . 0 17 0 — BREWERIESN.Z. Breweries 2 3 3 Dunedin Brewery 1 5 6 - OIL — MotUroa (ord.) ... ... ■ ~ 0 4 3 (BOLD MINING— Bell-Kilgour ... ., ■ 0 0 5i 0 0 u Bendigo Goldlight .. 0 0 8 0 0 5 Big River ... — 0 1 01 Central Shotover — 0 1 0 Gillespie’s ... 0 1 9 0 i n Golden Point ... 0 0 1>4 — Golden Progress , ... — 0 1 0 Golden Sands ... ; 0 3 0 Goldfields Dredging . __ 0 0 101 Glenroy 0 0 9 — King Solomon' ...! ... — 0 4 1 Lawson’s Plat 0 0 3i Maerewhenua, ... ... — 0 0 9 Matald ... ... 0 2 0^ Moonlight-Nekon Creek 0 0 O 0 61 3fount Morgan 16 3 .1 7 2 Nevis Diesel ... ... — 0 0 4 New Cornish point • _ 0 0 104 Nolcoraai . 0 3 1 0 3 3 Oxenbridge ... ... ... — o o m Skippers ... 0 0 11 0 1 0 Upper Shotover 0 0 6 — Waitahu .. — 0 44 N.Z. GOVERNMENT LOANS— (Bonds quoted are £100 Bonds.) * 3i Stock, 1938106 0 0 Stockj 1939106 0 0 5 i |uc. Stock. 1941106 0 0 3j g^ c - Stock, 1938105 10 0 3i p.e. Stock, 19391952 105 10 0 — • 31 p.e. Stock, 19411952 ... 105 10 0 — 4 p.e. Bonds, Jan. IS, 1940 105 0 0 — 4 p.e; Stock; Jan. 15, 1940 105 0 0 4 p.e. Bonds, Feb. 15, 1946 106 0 0 — 4 p.e. Stock, Feb. IS, 1946 ... ... - - 106 0 0 107 0 0 4 p.e. Bonds, April IS, 1949 ... 106 0 0 4 p.e. Stock, April 15, 1949 106 0 0 4 p.e. Bonds. June IS, 1955 107 0 0 4 p.e. Stock, June 15, •955 107 0 ■ 0