COMMERCIAL

Gisborne Herald, Volume LXVI, Issue 20114, 7 December 1939, Page 8

COMMERCIAL

INDUSTRIALS FIRMER BREWERIES IN DEMAND AUSTRALIAN EXCHANGES (Elec. Tel. Copyright—United J’rnss Assn.) SYDNEY, Dec, 5. A strong market for industrial shares ruled on the Sydney Stock Exchange to-day. Breweries particularly were in demand. Sales were:—British Tobacco, prof., .Cl 7s; Associated News, lGs 9d: Australian Consolidated Industries, £1 lGs 9d; Australian Consolidated Industries, contributing, l‘b 3d; Mortis Dock, lGs 9d: W. Atkins,- £1 2s Gd; W. R. Carpenter, i’2 2s; Fairymead Sugar, £1 17s; Zinc Corporation, £4; Broken Hill Proprietary. £3 lGs 9d ; Broken Hill Proprietary, new, 19s 3d; North Broken T-lill, £2 5s Gd; Rawang Tin. 9s 3d. Morning sales included: Tooheys, 28s; Tooths, 51s 9d; Anthony Hordern, pref., 19s 3d; Australian Consolidat'd Industries, 36s 9d; Broken Hill Proprietary, £3 lGs Gd; Cash Orders, 15s Gd; Colonial Sugar, £4B 10s. Sales on the Melbourne Stock Exchange to-day included:—National Bank, £5 paid, £5 19s; British Tobacco, '£2 8s 9d; Dunlop-Perdriau, 18s 4d;

Australian Paper Manufacturers, pref.. til 5s 3d; Drug Houses of Australia, £1 5s lid; Carlton Brewery. £3 6s 7d: Electrolytic Zinc, £2 17s 3d; Electrolytic Zinc, pref., £2 18s (id; Mount Lyell, £1 8s; Loloma, £1 4s; Broken Mill Proprietary, £3 16s (id. PROGRESS OF MOTUROA OVERSEAS INTEREST Reference to the change that had taken place in the position of Moturoa Oil Fields, Limited, through the linking up with large American and Aus- | Italian interests, who were prepared . to spend a considerable amount of money in efforts to discover payable oil, was made by Mr. C. N. Taylor, . managing director of the Moturoa Company, at the annual meeting re- ] cently. 1 The chairman also referred to the , various rights which the Moturoa Company now holds, and stated that 'the production on the company’s own wells was not now of such importance ’ ns m the original stages, and the con--1 tinuance of such production for any . length of time could not be counted : on. The company's future was now chiefly dependent upon the result of . the drilling operations of the New [ Zealand Petroleum Company, which , had large financial reserves and the ; 1 control of an expert personnel.

SHEEP VALUES RISE FRANKTON QUOTATIONS Values for all classes of cattle remained firm at the Frankton stock sale on Tuesday. Prime mediumweight bullocks 'brought prices up to £,13 2s 6d, while heavy prime cows made up to £'lo. There was steady competition for a good penning of store cattle. 'Many pens of .prime heavy wethers were included in the yarding of sheep. There was a shortage of ewe mutton. The market was firm in most cases, values being at least Is 6d better than last week. Bidding was also keen for two-tooth ewe and wether mutton, while fat lambs sold readily at late rates. NORTHERN OILFIELDS BORE DOWN TO 1 194 FT Northern Oilfields, Limited, which is drilling near Dargaville, reports as follows:—No. 2 test bore has reached a depth of 1194 ft. Casing is now being run in to a hard band encountered at that depth. The formations penetrated for the last 330 ft. are charged with natural gas and this has helped to i cause caving in the shale formation,

making the lowering of the casing somewhat difficult. It is expected, however, that this difficulty will be overcome and the casing readh the ' 1194 ft. level this week.