COMMERCIAL.
SHARE REPORT. Mr W. G. Motley, of Napier, reports under date Napier, Friday, 24th Nov., upon the operations of the sharemarket as follows:— The market has been fairly with considerable sales In Southern Cross Petroleum at 2s, 2s 4d, and 2s 6d, a large proportion of which are finding their way down South. Out of 10,400 of the forfeited shares advertised for sale only 3,900 passed the hammer, the calls having been previously paid on 6,500. The shaft is now 160 feet, with good sinking, and oil freely exuding from the bottom. The Directors have decided to continue sinking the shaft to a depth of 200 feet, and then commence boring from the bottom.
South Pacific.—The new derrick (70 feet high) for borine operations will be complete in about a week, when boring will be resumed. The shares in the meantime remain quiet. Insurance Shares.—All remain very quiet, with a downward tendency. Quotation of National, 25s 6d, A small parcel of Colonial Bank are wanted at 475, with sales at 475.
The following are my latest quotations :— Banks.—New Zealand, £22 15s; Colonial, 48s; National, 775. Insurance.—New Zealand, 775; Accident, 5s 6d; National, 25s 6d; South British, 58s; Standard, 15s 9d; Union, 19s 3d. Miscellaneous.—Napier Gas, £9 17s 6d, new issue, 19s; Drug, 24s 3d; Loan and Mercantile, £6; New Zealand Shipping, 97s 6d ; Southern Cross Petroleum, 2s 4d; Pacific Promoters, fls; Contributors, 2s fid ; Mosgiel Woollen Factory, 8s fid; National Mortgage, 83s; Wesport Coal, 17s fid; Milton Pottery,Bs.
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Poverty Bay Standard, Volume X, Issue 1211, 27 November 1882, Page 2
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249COMMERCIAL. Poverty Bay Standard, Volume X, Issue 1211, 27 November 1882, Page 2
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