LATE COMMERCIAL

Evening Star, Issue 22449, 21 September 1936, Page 12

LATE COMMERCIAL

MOUNT MORGAN MINE. EARLY IMPROVEMENT EXPECTED [Per United Press Association.] WELLINGTON, September 21. Following a recent visit of tho chairman and deputy-chairman of Mount Morgan Limited to the mine, a circular has been issued to shareholders outlining tho improvement expected when the oxidised ore treatment plant begins operations in November. The initial capacity of the plant will be 6,000 tons a week, and a million and a-half tons of this oxidised material have already been sampled, tested, and transferred to the ore reserves. An enlargement of the power house is scheduled. The concentrating mill which at present has a capacity of 7,500 tons a week, is being enlarged. The development of the open cut shortly should make it possible to maintain an output of 30,000 tons of average grade sulphide ore monthly and 25,000 tons of oxidised ore. making a total of 55,000 tons throughout. - FOREIGN EXCHANGES. (British Official Wireless.) Press Assbciation—By Telegraph—Copyright RUGBY, September 20. (Received' September' 21, at 1.30 p.m.) The following are the mean closing Paris, franc to £1 I 6 nKV 6 fi New York, dollar to £1 5.06 7-lt Montreal, dollar to £1 Brussels, belgas to £1 29.98 Geneva, francs to £1 Amsterdam, florin to £1 Milan (nominal), lire to £1 ... Berlin, reichsraarken to £1 ... 12.59 Stockholm, kroner to £1 Copenhagen, kroner to £1 ' 22 Oslo, kroner to £1 nli Vienna, schillings to £1 26| Prague, kroner to £1 ““4 Helsingfors, marks to £1 227 Madrid, pesetas to £1 55 , Lisbon, escudo to £1 hj 3-16 * Athens, drachmae to £1 532 ♦Bucharest, lei to £1 578 Belgrade, dinars to £1 221 Warsaw, zlotys to £1 ; 2b.0/ ♦Rio do Janeiro, pence to milreis Buenos Aires, pence to dollar ... 36 ♦Montevideo, pence to dollar ... 9-Io Bombay, pence to rupee 18i Shanghai, pence to dollar ... ... 14 5-16 Hongkong, pence to dollar ... 14 13-16 Yokohama, pence , to yen 141-32 Batavia, florin to £1 ... ♦Sellers. SYDNEY STOCK EXCHANGE. Press Association—By Telegraph—Copyright SYDNEY, September 21. (Received September 21, at 1.30 p.m.) Bonds: 4 per cent., 1941, £lO2 13s 9d: 4 per cent., 1944, £lO2 15s; 4 per cent., 1961, £IOO 13s 9d. Shares: Commercial Bank of Sydney, £l9 19s; Bank of New South Wales, £33 ss; Australian Gas A, £7 7s; Anthony Hordern, 18s 9d; British Tobacco, 445; Broken Hill Proprietary (new), 58s; G. J. Coles, 83s 8d; Henry Jones, 435; Meggitts, 26s 9d. SALES ON CHANGE: THIS DAY. Christchurch.—Timaru Brewery (in liquidation), 2s 9d; Dunlop Rubber (cum div.), 18s Id; Brian Born, 3d (3) ; Mount Lyell, 29s sd; Mount Morgan, 12s 6d. Wellington.—Union Bank, £9 10s (30 shares); Tooth and Co., 56s 6d (50 shares); Mount Lyell, 29s 4d (200 shares); Broken Hill Rights to Wellington Alluvials, 2s 6d (100 shares). Unofficial list: Shillings Ltd, 17s Id (100 shares); Woolworths Ltd., £5 7s 6d (50 shares). Auckland.—Mort’s Dock, 12s ; Mount Morgan, 12s 6d; Auckland Gas, 23s Id; Bank, of New Zealand, 395; Cole’s, 82s; Hamilton Borough (1950), £105; (I 960), £lO7. Noon call: Bank of New Zealand, 395; South British Insurance, 89s 3d; Mort’s Dock, 12s; Wilson’s Cement, 36s 6d; Mount Morgan, 12s 6d; New Zealand Stock (1938-52), 3J per cent., £104; Auckland Electric Power Board (1939), £lO2 ss. Unlisted; Dominion Breweries Proprietary, 32s 3d. A feature of the quiet opening to the new week was a further slight casing in Bank of New Zealands, which sold cheaper at 395. This is the lowest price accepted to the call for scrips which sold a year ago at 51s. After this morning’s sale there were sellers at 39s 3d, but buyers had dropped out. The rest of the banking and insurance sections were quiet and showed few changes. Amongst local issues Auckland gas improved slightly, with business at 23s Id, a penny rise, with a subsequent market between 23s and 23s 3d. Sellers of Consolidated Brick dropped their limits to 9s 7d, and buyers were still in at 9s 4d. Drugs were quoted ex div., with buyers at 73s 6d, and no sellers. There were buyers for Milne and Ohoyce debenture stock at 13s 6d, and no sellers. Australian stocks were irregular. Goldsbrough were easier, with sellers at 33s 6d, and no Coles sold lower at 82s. but the price was above late quotations. Broken Hills were slightly easier between £3 15s 6d and £3 16s. In Government stocks 1946’s and 193852’s were on offer at £lO4 5s and 1955’s at £lO6.