COMMERCE, MINING, AND FINANCE

Evening Star, Issue 22443, 14 September 1936, Page 7

COMMERCE, MINING, AND FINANCE

THE SEARCH FCR GOLD BIG RIVER MIKES Tli® report for the week ended September 7 states: — No. 4 Level.— Sloping is proceeding ' in the north stopes, centre stones, and south stopes. In the last-named stopes there is an improvement in the north end The reef is extending further north than the previous stope. Ibis stone carries nice gold. ISo. 5 level has been extended loft for the week, making the total distance driven from mam shaft 80ft. More favourable country haa appeared, in the face of the drive, which is carrying quartz stringers. Thirty-six tons of stone have been delivered to the mine paddock on the ' surface. The battery is crushing one shift per day. ALEXANDER MINES The tenth ordinary general meeting of shareholders was held on September 8' at Reefton. Thirty-three shareholders, holding 21,424 shares, were represented at the meeting personally and by proxy. Mr F. W. Manton presided. The directors’ report, balance sheet, and statement of profit and loss account for the year ended May 31 was received and adopted. The retiring directors, Messrs S. A. A. -Fry and Geo. Lambert., were reelected unopposed. The retiring auditors, Messrs W. B. Auld and W. H. __ Cooper, were also re-elected unopposed. Mr Jos. Bolitho, mine superintendent, was present at the meeting, and informed shareholders of the latest developments at the mine. The future outlook of the mine, he said, is considered' io . be most promising. The quantity of, ore developed and in sight between Nos. 4 and 6 levels' is greater than 1 has ever been shown in the upper levels from No. 4- level to the surface. It is anticipated that the mine will shortly: regain the dividend list. WEST COAST DREDGES ' The Okarito return for last week was 260 z 2dwt for 126 hours. The Mossy Creek dredge return was 520 z 12dwt for 9,855yds and 136 hours’ work. The Nemona dredge return was 38oz 16dwfc for 14,900yds and 122 hours’ work. WAIPAPA BEACH RETURN The- Waipapa Beach return for last week, was 240 z 4dwt for 121 hours’ dredging. THE MEAT MARKET Press Association —By Telegraph—Copyright LONDON, September 12. . N.Z. Sheep.—Canterbury, and North , Islan J/selectedlcfpss-bred wethers and' 1 maiden ewes: Under 481 b, 4|d per lb; 48-561 b, 4id'; 57-641 b, 44d; 65-721 b, 4Jd. Ewes: .Under 481 b, 4fd; 48-641 b, 3Jd; 65-721 b, 3|d. North Island: 48-56-Ib, 4|dr 57-641 b, 4*d; 65-721 b, 4|d. Australian Sheep.—First quality cross-bred and/or merino wethers: 40561 b, 4id, Second quality; 30-351 b, 4|d. Ewes: 30-351 b, 4Jd. Argentine Sheep.—First quality cross-bred wethers: 43-641 b, 4id; 65721 b, 4d. Patagonian Sheep.—Wethers and/or maiden ewes: Under 501 b, 4Jd; 50-601 b, 4Jd; 30-551 b, 3|d. Australian Lambs.—Victorian; First quality—36lb and under, 6jd ; 37-421 b, , 6|d., Second quality—36lb and under, 6|d. . Other States:- First quality—--361b. and under, 6Jd; 37-421 b, 6Jd. All States: Third quality—36lb and under, 7d. N.Z; Frozen Beef.—Ox fores (1452101 b), 2|d; .ox hinds' (145-2101 b), 3|d. Australian Frozen Beef.—Ox crops (1001 b: arid under), 3Jd; ox crops (1452101 b), 2|d; ox hinds (145-2101 h), 3|d; ox. hinds (over 1601 b), 4d. . N.Z. Chilled.—Hinds, sd: fores, 2Jd. Australian Chilled.—Hinds (1452101 b), sd; crops (145-2101 b), 2|d. Union or South Africa Chilled.— Hinds, 6Jd; fores, 3d. Argentine Lamb.—First quality: 361 b and under, 6Jd; 37-421 b, 6fd. Second quality: Average about 281 b, 6§d. Patagonian Lambs.—First quality: 361 b and under, 6Jd; 37-421 b, 6Jd. Second quality: Average about 301 b, 6|d. N.Z. Lambs.—Canterbury: First quality.—36lb and under, 74d; 37-421 b, 7Jd 43-501 b, 6/d. Second quality— Average about 311 b, 6|d. Other South Island: 361 b and under, 7|d: 37-421 b, 7Jd; 43-501 b, 61 d. Second quality: Average about 321 b, 7d. Selected North Island, including Downs: 361 b and under, 7|d; 37-42!b, 7|d; 43-501 b, 6*d. Second quality; Average about 301 b, , 7id. Other North Island: First quality —36 lb and under. 7|d; 37-421 b, 6|d. Second quality—Average about 311 b, 6|d. ' Southern Rhodesia Chilled.—Hinds, 4Jd. Argentine • Chilled Beef.—Ox hinds (145-2101 b), 5Jd; ox fores (145-2101 b), 3|d. Uruguayan Chilled.—Hinds, s|d; fores, 23d. Brazilian Chilled.—Hinds, 4|d. N.Z. Pigs.—First quality : 60-BDJb, 61d; 81-100 lb, 6|d; 101-1201 b, 6gd. Australian Pigs.—First quality: 811001 b, 6id; 60-801 b, 6Jd; 101-1201 b, 6|d. COTTON, RUBBER. ETC. Press Association —By Telegraph—Copyright LONDON, September 12. Friday’s closing prices are as fol- * lows : Cotton.—Spot, 6.99 d per lb; October delivery, 6.61 d. Rubber. —Para, £lO 10s per ton; plantation, smoked, £7 ,13s 9cl. Jute, Septemher-October delive y, £l7 3s l£d per ton. Copra.—Septemher-October shipment, South Sea, £l3 17s 6d per ton; smoked, £l3. ss; plantation, Rabaul, £ls. Linseed oil, £2B os per ton. Turpentine, 39s 3d per cwt.

FOREIGH EXCHANGES OK NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, quoted the following rates (to-day) for purchase and sales of foreign exchanges (all rates subject to alteration without notice) : ' _ ... Buying Selling.

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates to-day on a New Zealand currency basis. They are subject to alteration without notice: — U.S.A. Canada. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— '

SYDNEY STOCK EXCHANGE Press Association—By Telegraph—Copyright

THE SHARE MARKET DUNEDIN STOCK EXCHANtE / Quiet conditions prevailed at the opening call for the week of the Dunedin Stock Exchange. For the most part investors confined their attention to Australian issues, for which there was a good demand.' Banking and insurance issues received little support, and in the loan and agency section Goldsbrough, Morts continued to be wanted at 33s 9d, with no reply from sellers. Meat shares were neglected and Eefrigeratings were inclined to bo easier. Australian industrials were strongly supported amongst miscellaneous issues, Anthony Horderns had buyers at 18s sd, with sellers a shade firmer at 19s. British Tobaccos moved up 3d to buyers at 425. 3d without attracting a seller, and both issues of Broken Hill Proprietarys were firmer, with improved offers from buyers and no seller in either case. In the brewery section New Zealands were for sale at 53s 6d, and Tooth’s were wanted at 5Ss 9d, with an odd parcel for sale at the same figure. Amongst unlisted stocks Woolworths (Sydney) attracted a buyer at £5 9s, with sellers firm at £5 10s fid. Electrolytic Zincs continued in good demand with sellers firm, while other Australian mining issues were inclined to weaken a shade further. SALES REPORTED. 4 per cent. Bonds (1937-40), £lOl 17s fid (late Saturday). , . . 4 per cent. Bonds (1943-46), £lO3 17s 6d (late Saturday).

DIVIDENDS DUE

FOREIGN EXCHANGES

(British Official Wireless.) Press Association—By Telegraph—Copyright RUGBY, September 12. (Received September 14, at 1.30 p.m.) The following are the mean closing rates:— Paris, franc to £1 76 55-64 New York, dollar to £1 5.0515-16 Montreal, dollar to £1 5.05 J Brussels, belgas to £1 29.95£ Geneva, francs to ...1 ... 15.53 Amsterdam, florin to £1 7.45£ Milan (nominal), lire to £1 ... 6415-16 Berlin, reichmarken to £1 ... 12.58 Stockholm, kroner to £1 19.39^ Copenhagen, kroner to £1 22 Oslo, kroner to £1 19.90 Vienna, schillings to £1 26J Prague, kroner to £1 122 5-16 Helsingfors, marks to £1 227 Madrid, pesetas to £1 58^ Lisbon, escudo to £1 110 3-16 ‘Athens, drachmae to £1 ... ... 531 ‘Bucharest, lei to £1 677 Belgrade, dinars to £1 221 Warsaw, zlotys to £1 26.87 ‘Rio de Janeiro, pence to milreis 4i Buenos Aires, pence to dollar ... 36 ‘Montevideo, pence to dollar ... 38 9-16 Bombay, pence to rupee 18£ Shanghai, ponce to dollar 14 13-32 Hongkong, pence to dollar ... 1413-16 Yokohama, pence to yen 14 3-64 Batavia, florin to £1 ... 7.43 ‘Sellers. NEW ZEALAND MEAT PRESTIGE NEVER HIGHER [Pkii United Phess Association.] WELLINGTON, September 14. The prestige of New Zealand beef and lamb was never higher on the British market, according to Mr N. S. M'diimpha, of the staff of the New Zealand Meat Board in Loudon, who arrived by tlie Maunganui to-day to gain a knowledge of producing conditions in New Zealand. He said he was satisfied that New Zealand producers could always command a good market, particularly with lamb, which was on a premium, if the present standard was maintained. The stage had been reached where criticisms of the Now Zealand product were seldom heard. He had been doing propaganda work in Britain, which was very essential, particularly in the poorer areas. Tn respect to chilled beef prospects, he said that once proper transport was available, all that would be needed at this end would bo a careful check on size and quality. Quarters must not be too big, and must be just right;—not too fat and not scraggy. In regard to lamb, be said the 281 b lamb would command a penny a pound more than the ,‘l6l b, but he did not think New Zealand growers would be wise to put all their lambs on the market at 2Slb, because only a percentage of the market demanded smaller joints.

London— £100 stg.. N.Z. ... . T.T. £121 £124 10/ O.D. £123 10/ £124 8/9 Australia — £A to £100 N.Z T.T. £101 £100 10/ Fiji— £F to £100 N.Z. T.T. £90 7/ £89 New York— Dollar to £1 N.Z. . T.T ■ 4.Q9i 4.05j O.D. 4.10| 4.06 Montreal — Dollar to £1 • N.Z , T.T. 4.09 4.05-2-O.D. 4.10i 4.06 Austria— Schillings to £1 N.Z. ...; .. T.T. 97.15 Belgium— Belgas to £1 N.Z O.D. T.T. 97.20 23.938 O.D. — 23.949 Czechoslovakia — Crowns to £1 N.Z T.T. 97.23 Denmark— Kroner to £1 N.Z. ... ...• O.D. .. T.T 18.203 97.28 17.893 France — Francs to £1 N.Z. ... ... O.D. T.T. ; 18,263 17.906 61.47 Germany— Eeichmarks to N.Z O.D. £1 ... T.T. 61.51 10.027 O.D. — 10.032 Holland — Florins to £1 N.Z T.T. 5.938 O.D, — 5.942 Italy— Lire to £1 N.Z T.T. 51.45 Java— Florins to £1 N.Z O.D. T.T. 51.50 5.906 Norway— Kroner to £1 n:z. ... ... O.D. . T.T 16.181 5.910 15.891 O.D. 16.241 15.901 Sweden — Kroner to £1 N.Z. . T.T. 15.785 15.490 O.D. 15.845 15.500 Switzerland— Francs to £1 T.T. 12.377 n.z. ... r..' — O.D. — 12.382 Noumea — Francs to £1 N.Z. ..; ... T.T. 60.10 Papeete— Francs to £1 N.Z O.D, T.T. 60.16 60.25 Hongkong— N.Z. pence to 1 O.D. 60.31 dollar ... . T.T. T7 55-64. 18 55-64 O.D. 17 49-64 18 53-64 India and Ceylon N.Z. pence to rupee T.T. 22 9-64 22 57-64 Japan— N.Z. pence to yen ... .. 1 O.D. T.T. 22 3-64 m 17 41-64 O.D. — ■ 17| Shanghai— N.Z. pence to dollar ;.. 1 T.T. 17 9-32 18 9-32 Singapore— N.Z. pence .to dollar ... 1 O.D. T.T. 17 3-32 34 27-64 18 17-64 35 31-64 O.D. 34 15-64 35 15-32

T.T. (dol.) ... ... 4.05j 4.051 O.D. (dol.) ... ... 4.06 4.064 BUYING— O.D. (dol.) ... ... 4.10i 4.10J

SYDNEY, September • 11. Bonds— £. s. d. 3J p.c., 1940 99 0 0 3ij- p.c., 1951 98 10 0 4 p.c., 1938 102 7 6 4 p.c., 1944 103 1 3 4 p.c., 1953 101 5 0 4 p.c., 1955 101 0 0 4 p.c., 1957 ... ' 101 5 0 Commercial Bank of Sydney 19 15 0 Commercial Bank of Australia 0 18 9 Bank of New South Wales 33 2 a Australian Gas (- ) 7 5 0 Tooheys 1 12 9 Anthony Hordern 0 19 0 Associated New (pref.) ... 1 3 3 British Tobacco . 2 3 0 Broken Hill Proprietary ... 3 18 9 Dunlop Perdriau 0 18 4i Electrolytic Zinc 2 3 9 G. J. Coles 4 1 0 Goldsborongh, Mort 1 14 6 James Steelman 0 18 3 Mark Foy a* 1 14 0

Quotations as under Buyers. Sellera. £ B. d. £ d. BANKING— New Soutli Wales ... _ 32 17 6 New Zealand 1 19 0 — Commercial — 0 18 7 National of New Zealand 3 0 6 — National of Australasia ... ... ... 14 10 0 “ INSURANCE— National ... 0 18 0 — Standard — 3 2 0 SHIPPING— P. and 0. Deterred Stock 1 11 0 — U.S.S. Co. (pref.) ... 1 6 0 — MEAT PRESERVING— N.Z. Refrigerating (paid) ... — 1 0 2 N.Z. Refrigerating (cont.) ... 0 9 0 — LOAN AND AGENCYDalgely _ 9 5 0 Goldshrougli, Mort ... 1 13 9 — Perpetual Trustees ... — 3 4 0 Wright, Stephenson (pref.) — 0 18 6 COAL— Kaitangata .'. 1 1 0 Westport — 1 3 3 WOOLLEN COMPANIES— Bruce (ord.) - 0 14 S MISCELLANEOUS— Anthony Hordern ... 0 18 5 0 19 0 Australian Glass 4 10 3 — British Tobacco 2 2 3 — Broken Hill Prop. ... 3 17 0 — Broken Hill Prop. (cont.) 2 16 3 — Brown, Ewing (ord.) 0 16 9 — Crystal lee Co 2 5 0 — Dominion Fertiliser ... — 1 5 0 Dominion Rubber ... — 1 9 0 Dunlop Perdriau Rubber 0 18 0 0 18 5 G. J. Coles 4 0 0 4 0 9 Milburn Lime and Cement (ex) _ —. 2 3 0 National Electric — 0 13 0 N.Z. Banners’ Fertiliser 1 1 0 — N.Z. Newspapers 2 0 0 2 1 6 N.Z. Paper Mills ... 1 6 0 — ‘ Otago Daily Times ’ — 2 8 0 Regent Theatre — 1 1 6 BREWERIES— , New Zealand _ 2 13 6 Tooth's 2 15 9 2 15 9* UNLISTED STOCKS— Woolworths, Sydney (ord.) 5 9 0 5 10 6 AUSTRALIAN MINING — Electro. Zinc (pref., £1) 2 3 3 2 3 6 Electro. Zinc (ord., £1) 2 1 0 2 1 9 Mount Lyell (£1) ... — 1 9 3 Mount Morgan (2s 6d) — 0 13 0 GOLD MINING— Big River (Is) 0 1 10 Blackwater (£1) — 1 14 6 Central Sholovcr (Is) — 0 0 5 Clutha River (2s) ... 0 1 9 Consolidated Goldfields (4s) — 0 17 0 Gillespie's (Is) 0 1 5 0 i 7 Kildare (2s) — 0 2 6 King Solomon (Is) ... 0 0 9 0 1 1 Lawson’s Flat (Is) ... — 0 0 4 Maori Gully (Is) ... 0 0 6 — Okarito (5s) — 0 5 6 Nemona (Is) _ 0 1 8 0 1 10 Waimumu Sluicing (Is) — 0 0 101 Waipapa Beach (Is) — 0 1 0 Waitabu (5s) .. .... — 0 2 3 N.Z. GOVERNMENT LOANS(Bonds quoted are £100 Bonds.) 31 p.c. Stock, Nov., *1938-52 103 12 6 31 p.c. Stock, March, 1939-43 103 12 6 —

34 p.c. Stock. March, 194143 103 10 0 — 34 p.c. Stock, Sept., 194143 103 10 0 p.c. Stock, May, 1941-52 103 5 0 3jr p.c. Stock, Nov., 1941-52 103 5 0 _ 4 p.c. Stock, 1937-40 — 102 0 0 4 p.c. Bonds, 1943-46 103 15 0 — 4 p.c. Stock, 1943-46 103 15 0 - 4 p.c. Bonds, 1946-49 105 5 0 — 4 p.c. Stock, 1946-49 105 5 0 — 4 p.c. Bonds, 1952-55 105 5 0 — 4 p.c. Stock, 1952-55 105 5 0 — *Odd parcel.

Adelaide Steamship—Final, 31 per cent., making 6 per cent. ... Melbourne Co-operative BreweryQuarterly, at 20 per cent, per annum ... Sept. 15 Sept. 15 Beach —Id per share Sept. 16 Apex Investment, Masterton—Interim at 4 per cent, per annum Sept. 17 Huddart, Parker—Interim pref., 3 jier cent., ord. 31 per cent. Sept. 17 Broken Hill South—Quarterly, 2s 6d a share Sept. 38 Kaiapoi Woollen —Ord., 5 per cent.; pref., 5 per cent. Sept. 19 North Broken Hill—Dividend and bonus, 5s per share Sept. 20 N.Z. Drug Co. —Interim, 3£ per c6nt. ... .. ... ... Sept. 21 Renown Collieries — Ord., lOd, final pref. at 7 per cent. ... Sept. 21 Auckland Farmers’ Freezing—6 per cent, per annum Sept. 25 Nemona Dredge—Id a share Sept. 26 Hume Pipe, Australia. Ltd.—5 per cent, per annum Sept. 28 British Tobacco —Quarterly, 2 per cent Sept. 28 Dunlop Perdriau —Final, ord. and pref., 5 per cent Oct. 1 Lincoln Mills—Final, pref. 5 per cent., and ord. 8 1-3 per cent. Oct. 2 Bank of Australasia —Interim, 3s 6d per share Oct. 2 Howard Smith —Ord., 11 per cent.; pref., 1£ per cent. Oct. 6 Imperial Chemical Industries Ltd. —Interim, 2£ per cent., on ordinary shares Nov. 2 Myer Emporium, Melbourne—■ Final, 5| per cent., making per cent, per annum ... ... Nov. —