Commerce, Mining, & Finance

Evening Star, Issue 22463, 7 October 1936, Page 9

Commerce, Mining, & Finance

THE SHARE MARKET DUNEDIN STOCK EXCHANGE Prices tended to harden this morning, while a number of issues showed a decided improvement In the banking section Bank of New Zealand shares were wanted at 395. Commercial Banks were unchanged. National Bank of New Zealands lacked buying support, sellers quoting 60s. In the shipping section P. and O. Deferred stock were quoted at 32s 6d for buyers, there being no seller. This firm price represented a further rise of 6d,^ Interest in the meat preserving section centred around New Zealand Refrigerating shares (paid), a buyer offering 19s, the closing quotation ,being 2d on either side of this figure. An improvement _ of 5d on yesterday’s buying quotation in Goldsbrough, Morts was the feature of the loan and agency section, these issues selling at 33s 9d and 33s lOd. Australian Glass shares were unchanged in the miscellaneous section, the market being too wide to permit buying. Broken Hill Proprietaries were wanted at 77s in the Australian gold mining section. The contributing issues were also inquired for at 3d better than yesterday’s figure. Continued interest was evinced in Mount Morgan shares, there being a further improvement of Id in the buying quotation. SALE REPORTED. Broken Hill South, £6 2s 6d. SALES ON ’CHANGE. Goldsbrough, Mort, 33s 9d (2), 33s lOd. Quotations as under:— Buyers. Sellers.

DIVIDENDS DUE Amalgamated Zinc (De Bavay’s) —Half-yearly, 5 per cent. ... Oct. 9 Amalgamated Wireless—Final, 6 per cent, and bonus 1 per cent., making 11 per cent, per annum Oct. 12 Woolworths Ltd.—Quarterly, ord. 2 per cent Oct. 15 Woolworths (N.Z.) Ltd.—lnterim pref. £2 14s per cent Oct. 15 Burns, Philp (South Sea) —Halfyearly 5 per cent, per annum Oct. 15 G. J. Coles—lnterim, quarterly, 2J per cent Oct. 15 Wunderlich Ltd.—lnterim halfyearly, ord., 6 per cent, per annum; Ist and 2nd pref., 6 ’V per cent, per annum; 3rd pref., 7 per cent, per annum Oct. 15 United Provisions Pref. halfI yearly, at 8 per cent, per annum, ord. 2 per cent, per annum Oct. 30 N.Z. Guarantee Corporation— Final, 2d a share, 9 13-18 per cent, per annum Oct. 30 Imperial Chemical Industries Ltd. —lnterim, 2j per cent., on ordinary shares Nov. 2 SEARCH FOR GOLD MINING HOUSE CONCESSIONS LTD. The secretary of Mining House Concessions Ltd submits the following report of progress during September:— The monthly wash-up (No. 2) produced 13oz 13dwt of gold, valued _at £96. The mine expenditure, including mipe manager’s salary, amounted to about £45. MAEREWHENUA GOLDFIELDS DEVELOPMENT The secretary of the Maerewhenua Goldfields Development Company Ltd, reports the following progress foF September:—The work on the mine was mostly concentrated on the Golden Gully development. The progress of the tailings through the tunnel was very satisfactory indeed, and it is estimated that 100 cubic yards per hour passed through the tunnel. All this material goes over gold saving boxes and any values contained therein are saved. Sluicing at Duffer’s Gully is now being terminated, and work has been started on cleaning up the gutter and the long tail race in that gully. A partial wash-up of the boxes has produced approximately 6oz of gold, valued at £43 10s, but the gold which is lodged in the gutter is still to he washed up. The mine expenditure for the month amounted to approximately £B6. The extension money, £124,_ for the month of October, in connection with the option to London, has been received. RIMU DREDGE The Rimu dredge clean-up for the period ended on October 5 for 1241 hours’ digging and 56,095 cubic yards of material resulted id 216 crude ounces being recovered. THE METAL MARKET Press Association —By Telegraph—Copyright LONDON, October 5. The following are the official metal quotations:— Copper.—Spot, £39 15s 7Jd per ton; forward, £39 16s 10Jd. Electrolytic.—Spot, £44 per ton; forward, £44 10s. Wire bars, £44 10s per ton. Lead.—Forward, £lB 6s 3d per ton; spot, £lB ss. Spelter.—Spot, £l3 18s 9d per ton; forward, £l4 ss. Tin.—Spot, £202 17s 6d per ton; forward. £199 17s 6d. Silver.—Fine, 20 l-16d per oz; standard, 21 5-Bd. AUSTRALIAN STOCK EXCHANGES Pins Association—By Telegraph—Copyright SYDNEY, October 6. The feature of the Stock Exchange to-day was strong buying pressure' for Zinc Corporation shares, which touched £4 11s. These shares have advanced

MELBOURNE, October 6. The bond market was easier. Industrials were firm, and the Zinc Corporation made a record price. Gold mining were about steady.

FOREIGN EXCHANGES ON NEW ZEALAND CURRENCY BASIS The Bank of New South' Wales, Dunedin, quoted the following rates for purchase and sales of foreign exchange (all rates subject to alteration without notice): —

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 alterations without notice;— U.S.A. Canada. (Per £1 N.Z.) (Per £1 N.Z.) SELLING—

FOREIGN EXCHANGE MARKET (British Official Wireless.) t’reu Association —By Telegraph—Copyright RUGBY, October 5. Steady conditions prevailed at the opening of the foreign exchange market this morning, and rates were little altered compared with Saturday’s closing rates. Stock markets were buoyant.

AUSTRALIAN ORANGES WAHGANELLA BRINGS 12,000 GASES ONLY CHE-SIXTH FOR SOUTH [Per United Press Association.] AUCKLAND, October 6. The largest single shipment of South Australian oranges to be brought to Auckland arrived from Sydney by the Wanganella. The consignment comprised nearly 12,000 case, of which 10,000 are for Auckland and the remainder for the south. A permit was obtained from the Government to increase the number of cases by 4,000 following the mishap to the Matua, which resulted in 10,000 cases being left behind at Cook Islands. About half the shipment was stowed in the holds, and the rest was stacked on deck. The consignment will relieve the acute shortage of oranges that has existed through the mishap to the Matua. SYDNEY WOOL SALES Pren Association—By Telegraph—Copyrifflit SYDNEY, October 6. ' ' At the wool sales 11,933 bales were offered and 10,461 sold, while 1,227 were disposed of privately. There was a very firm market, with all the best features of last week’s auctions again in evidence. There was strong support from Yorkshire and increased Continental competition. Greasy merino made 21|d.

The average price of wool last week in Sydney was £l7 4s lid a bale, or 13.1 d per lb.

£ s. d £ s.d. BANKING— New South Wales ... 33 5 0 New Zealand 1 19 0 1 19 9 Commercial 0 18 3 0 18 6 National of New Zealand — 3 0 0 National of Australasia (cont.) 7 1 0 — INSURANCE— National ... ... ... 0 19 0 Standard — 3 2 0 SHIPPING— P. and 0. Deferred Stock 1 12 6 — U.S.S. Co. (pref.) ... 1 6 0 — Mi.' 'T PRESERVING— N.Z. Refrigerating (paid) 0 18 10 0 19 2 N.Z. Refrigerating (cont.) 0 9 1 0 9 5 South Otago Freezing 7 12 0 8 0 0 1 ' AND AGENCYGoldsbrough, Mort 1 13 9 1 13 10 National Mortgage — 2 11 0 N.Z. Guarantee Corporation — 0 5 9 Perpetual Trustees 3 4 0 Wright, Stephenson (ord.) 0 18 3 — COAL— Kaitangata ... ... .. 1 1 0 Westport — 1 3 3 WOOLLEN COMPANIES- • Bruce (ord.) 0 14 6 Kaiapoi (cont.) — 0 6 5 MISCELLANEOUS— Anthony Hordern ... — 0 18 9 Associated News (pref.) 1 3 6 Australian Glass 4 13 0 4 14 6 Australian Iron and Steel (pref.) 1 5 0 British Tobacco 2 3 0 Broken Hill Prop. '... 3 17 0 3 18 0 Broken Hill Prop. (cont.) 2 17 0 Brown, Ewing (ord.) ... 0 17 0 Brown, Ewing (pref.) ... 1 2 3 Consolidated Brick ... 0 9 6 Crystal Ice Co 2 5 6 Dominion Fertiliser ... 1 5 0 Dunlop Perdriau Rubber 0 16 11 0 IT 1 G. J. Coles (cum div.) 3 16 9 3 17 9 G. J. Coles (rights) ... '1 14 6 Milburn Lima Imd Cement 2 3 0 National Electric 0 14 0 N.Z. Newspapers 2 0 6 N.Z. Paper Mills 1 6 9 1 10 0 ‘ Otago Daily Times * 2 6 0 Regent Theatre 1 1 R Woolworths (ord.) ... 5 4 0 B’ 'ERIE8— New Zealand 2 11 0 2 12 6 Dunedin 1 10 0 UNLISTED STOCKS— Mackintosh, Calev. Phoenix 1 5 R Woolworths (Sydney. ord.) Otago Farmers’ Co-op. 5 7 6 5 10 ft 4 0 - Ouartz Mountain T.. 0 2 6 AUSTRALIAN MINING Broken Hill South (£1) Electrolytic Zinc 6 0 0 6 5 0 (pref., £1) 2 5 6 Electrolytic Zinc (ord., £1) ... ... 2 3 6 9 A Mount Lyell (£1) ... 1 9 7 law Mount Morgan Development (2s) ... 0 14 3 0 14 6 North Broken Hill (£1) 1 0 9i _ GOLD MINING— Argo Dredging (Is) Big River (Is) 0 17 0 1 10 0 2 o Blackwater (£1) 1 12 0 Central Shotover (Is) 0 0 5 Clutha River (2s) ... 0 2 4 Gillespie’s (Is) 0 1 4 0 1 s King Solomon (Is) ... 0 0 6 0 0 in Martha (5s) 0 19 6 . Mossy Creek (Is) ... 0 1 3 Mount David (5s) ... 0 1 0 » Nokomai (5s) 0 2 0 Okarito (5s) 0 3 0 Waihi Investments (5s) 0 10 3 Waimumu Sluicing (Is) ■■ 0 0 6 0 0 lOi Waipapa Beach (Is) 0 0 7 0 0 10i Waitahu (5s) — 0 2 0 N.Z. GOVERNMENT LOANS— 3£ p.c Stock, Nov., 1938-52 103 15 0 Si p.c. Stock, March, 1939-43 101 10 0 34 p.c. Stock, Sept., 1939-43 101 10 0 w Si p.c. Stock, May, 1939-52 103 15 0 — 3i p.c. Stock, March, 1941-43 101 10 0 . 3i p.c. Stock, Sept., 1941-43 101 10 0 — 34 p.c. Stock, May, 1941-52 103 10 0 — 34 p.c. Stock, Nov., 1941-52 103 10 0 — 4 p.c. Bonds, 1937-40 101 10 0 — 4 p.c. Stock, 1937-40 101 15 0 4 p.c Bonds. 1943-45 103 15 0 — 4 p.c. Stock, 1943-46 103 15 0 — 4 p.c. Bonds, 1946-49 105 6 8 — 4 p.c. Bonds, 1952-55 105 5 0 • 4 p.c. Stock, 1946-49 105 6 8 — 4 p.c. Stock, 1952-55 105 5 0

nearly 10s in a few days. The investment market is firmer. £ s. d. Bank of New South Wales 33 12 6 Commercial Banking of Sydney 19 17 0 Commercial Bank of Australia 0 18 6 Colonial Sugar ... 43 10 0 Automatic Totes ... 1 0 74 Burns. Philp 3 12 0 British Tobacco ... 2 4 0 Tooths ... 2 16 0 Tooheys ••• 1 11 9 Australian Glass ... 4 14 9 Winchcombe, Carson 1 14 3 Morris. Hedstrom 1 6 6 Electrolytic Zinc (pref.) ... 2 6 9 David Jones 2 9 6 Anthony Hordern 0 18 6 VV. R. Carpenter ... 2 2 0 Mort’s Dock 0 11 9 Sargents 1 9 0 Mount Morgan ... 0 14 6 Mount Lyell 1 10 0 South Broken Hill 6 0 0 North Broken Hill 9 15 0 Zinc Corporation 4 11 0 Bulolo Deposits ... 0 2 3 Loloma 1 3 6 Mandated Alluvials 0 12 9 Lady Shenton 0 1 11}

Commercial Bank of Aus- £ s. d. tralia 0 18 8 National Bank (£5 paid) 7 5 0 British Tobacco 2 4 0 G. J. Coles 3 18 6 Electrolytic Zinc 2 4 6 ,, (pref.) Mount Morgan 2 6 6 0 14 6 Mount Lyell 1 9 101 Broken Hill Ptv ] 3 18 3 South Broken Hill ... .” 6 2 6 North Broken Hill 9 13 0 Zinc Corporation 4 11 0 Lolonia 1 3 6 3 Emperor 0 15 Myers ‘ 1. 1.5 6 United Provisions 0 11 3 Sulphide Corporation ... ... 0 16 6 Upper Watut 0 2 1 Irowat ... 0 1 2§

Loudon — . £100 stg. * N.Z Buying. Selling. T.T. £124 £124 10 I 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 7/6 £89 New York— Dollars to £1 N.Z ... T.T. 3.96J 3.93i O.D. 3.98 3.93| Montreal — Dollars to £1 N.Z. .. T.T. 3.96i 3.93 O.D. 3.975 3.93i Austria— Schillings to £1 N.Z ... T.T. 20.77 O.D. — 20.79 Belgium— Belgas to £1 N.Z, ,. T.T. 23.301 O.D. — 23.312 Denmark— Kroner to £1 N.Z ... T.T 18.203 17.893 O.D. 18.265 17.903 France— Francs to £1 N.Z . .. T.T. 84.09 O.D, — 84.13 Germany— Eeichmarks to N.Z £1 .. T.T. 9.733 O.D. — 9.738 Holland— Florins to £1 N.Z .. T.T. 7.381 O.D. —. 7.385 Italy— Lire to £1 N.Z. ... .. T.T. 74.63 O.D. — 74.68 Java— Florins to £1 N.Z .. T.T. 7.338 O.D. — 7.342 Norway— Kroner to £1 N.Z ... T.T. 16.181 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 N.Z. ... ... . .. T.T. 17.023 O.D. — 17.028 Noumea— Francs to £1 N.Z , T.T. 82.72 O.D. — 82.78 Papeete— Francs to £1 N.Z .. T.T. 82.87 O.D. — 82.93 Hongkong— N.Z. pence to 1 dollar T.T. 18 9-32 18 25-32 O.D. 18i 18 49-64 India and Ceylon N.Z. pence to 1 rupee ... . . T.T. 22i 22 21-32 O.D. 22 11-32 22 41-64 Japan— N.Z. pence to I yen T.T. 17 33-64 O.D. — 17* Shanghai— N.Z. pence to 1 dollar T.T. 17 37-64 18 5-64 O.D. 17 35-64 18 1-16 Singapore— N.Z. pence to 1 dollar ... . . T.T. 34 23-32 35 13-64 O.D. 34| 35 3-16

T.T. (dol) ... ... 3.931O.D. (dol) ... ... 3.93| 3.94 BUYING— T.T. (do!) ... ... 3.97 3.96J O.T. (dol) ... ... 3.98i 3.98i