COMMERCIAL

Gisborne Herald, Volume LXVI, Issue 20078, 26 October 1939, Page 8

COMMERCIAL

ADVANCE IN PRICES

INDUSTRIAL SHARES

AUSTRALIAN EXCHANGES

(Kfire. T<-1. Copyright—United Press Assn.) SYDNEY, Oct. 24.

Active trading in leading industrial shares at increasing rates is the present order of the Sydney Stock Exchange.

Sales included: —Colonial Sugar, £4B: Bank of New South Wales, £27 Is; Commercial Banking Company of Sydney, £lB 2s; Union Bank, £6 7s;. Tooth and Company. £2 9s Pd; British Tobacco, £2 7s 9d; British Tobacco, New Zealand delivery, £2 7s fid; Woolworths.’ Limited. £1 2s 4Jd; Mori's Dock, lfis 7.U1; Australian Consolidated Industries, £1 15s 9d: James Steelman, Its 9d: Dunlop-Perdriau, lfis fid; William Adams, 12s 4d: Morris, Hodstrom, £1 4s (id: Broken Hill Proprietary, £3 9s 3d; North Broken Hill, £2 7s; Mount Lycll, £1 10s lid; Kanieri, £1 8s; Loloma, £1 4s fid.

Morning sales included: Commonwealth bonds, 4 per cent, 1941, £lOl 12s fid; 4 per cent. 19fil, £IOO 12s fid: Associated Newspapers, pref., lfis lid; Australian Consolidated Industries, 35s lOld; Australian Consolidated Industries, contributing, 12s 4d; British Tobacco. New Zealand delivery, 47s fid; Broken Hill Proprietary, fifis fid; Cash Orders Amalgamated, 15s 71d.

Sales on the Melbourne Stock Exchange to-day included: —GoMsbrough Mort.. £1 8s fid; Australian Consolidat'd Industries, £1 15s lOd: Australian Consolidated Industries, contributing, 12s 4d: G. J. Coles, £3 9s; Drug Houses of Australia. £1 as fid; Mount Lycll. £1 10s; Electrolytic Zinc, £2 lfis 3d: Electrolytic Zinc, pref.. £2 18s.

TARANAKI OIL COY

Details of the incorporation ol’ Taranaki (N.Z.) Oil Development Co., N.L., in February are given in the report of the directors of Taranaki <N.Z.) Oil Fields. N.L., for the year ended April 30. The interest of Taranaki (N.Z.) Oil Fields, N.L.. in the current operations of the New Zealand Petroleum Company, Limited, is now limited to the right to receive oil royalties in respect of licensed areas in New Zealand approximating 1400 square miles, in which Taranaki (N.Z.) Oil Fields, N.L., and/or its subsidiary and associated companies were interested. One hundred l'ully-paid shares and 242,979 contributing shares of £1 each in the capital of Taranaki (N.Z.) Oil Development Company, N.L., paid to Is a share, were taken up for cash in the first issue, in addition to the 4740 fullv-paid shares issued in terms of its formation agreement.

The latest report issued by the New Zealand Petroleum Company, Limited, is that the Totnngi No. 1 well has been sunk to a depth of 5000 ft. Production of oil from Nos. 1. 2 and 4 wells of the Moiorua Company has continued. Total output of the three wells at June 30 was No. 1, 1198 barrels; No. 2, 29,400 barrels; No. 4, 5920 barrels.