Prices Irregular

Sun (Auckland), Volume III, Issue 845, 13 December 1929, Page 10

Prices Irregular

Market on ’Change By “Xoon Call.” ASLllillT increase in speculative business, principally in relation to minin". lias been one of the features on "Change over the past 24 hours. Prices, generally, are irregular.

FLUCTUATIONS Price movements, shown by a comparison of sales on the Auckland market over the past 24 hours with the price at the time of the previous recorded sale, include:— Bank of New Zealand, fall of Bd. Renown (new issue, pref.)» rise of Id. Mount Lyell, fall of 3d. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours have included:— Yesterday afternoon.—Bunk of New Zealand. 58s: New Zealand inscribed stock, 1933. 5.} per cent.. £IOO 15s; National Bank of Australasia icon.!, £7 17s 6d: Mount Lyell, 41s 6d; Ohinemuri .Mining, 9s 7d. At tho early call.—Renown (new* issue, pref.), 3s id. At midday^ —.Mount Lyell. 41s 3d. Wa>hi Mining Company Progress Tho following information has been i aided to the London office of the Waihi Mining Company: In the No. 9 level on the north crosscut at 139 feet east on the Empire lode, at 100 feet in on this crosscut driving 'vest was commenced on the Dominion lode, tho first 35 feet assaying lGs a t«*n. On tho No. 10 level on the lode at 40 feet south of the Empire lode in the London South crosscut we have driven a further 34 feet to the east; •*n this the assay value is 93s 9d a ton; v e have also driven 91 feet to the west, the assay value being 56s a ton. The reef is wider than the drive in each direction. In the crosscut north-west from the Empire lode near the east boundary the next four feet is country rock, the next two feet quartz, the next ten feet calcite, and the last eleven feet quartz. The north wall is in hand; assays were of little or no value. Driving has now' been commenced on quartz at 100 feet in.” Market at Midday Even the gilt-edge section is beginning to feel the effects of the depression. and there lias been a decided easing in the general level of prices in that section over the past 48 hours.

The banking group is demoralised with the demand weak and practic-

ally only nominal. The whole tone of the market, registered more noticeably in the banking group, appears to bo definitely set against serious trading until after the holidays. In the mining group, Waihis have not been able to recover from the decline of yesterday, and buyers offered 13s 3d this morning, compared with 13s 8d earlier in the week. Onakaka Iron Profits A net profit of £5,507 is shown in the report of the Onakaka Iron and Steel Company, Ltd., for the year ended October 31 last. This is the first profit shown by the company. Preliminary expenses and accumulated losses now stand at £61,723. During the year capital increased by £IOO tb £104,058; liability under 8 per cent, debentures increased from £62,049 to £108,605. Oil at Mangaone Questioned regarding the discovery of traces of oil in the company’s Mangaone bore this week, the general manager of tho Taranaki (N.Z. Oil Fields stated that, although he regarded the discovery as encouraging, lie was not prepared to regard the development as one of prime importance. The oil could cither have seeped in from tho sides, or have been forced up through tho sand by gas pressure. The indications were less valuable if they represented seepage from the sides, for this would suggest that the well had passed through a stratum in which oil existed, but not in any great quantity. On the other hand, if the oil was being forced up from underlying strata, still to be tapped by the drill, the money spent in sinking the well to its present stage might soon bring definite results. Dividends Payable Tattersfield, Ltd.—final, 4 p.c. Now Devonport Steam Ferry—interim, 33 p.c Dec. 14 Gear Meat Coy.-r-final, Is and bonus, 6d .. Dec. 17 Mount Lyell—final, 2s 9d share JDec. 3 8 Kauri Timber—3 p.c. p.a Dec. 19 Singapore Hume—interim, 5 _ P-c Dec. 10 Goldsbrough, Mort—interim, 5 , P* c * Dec. 20 Morris Hedstrom—interim, 4 P ?- Dec. 31 British Tobacco—quarterlv, 3 P-c . .. Dec. 31 National Bank of N.Z.—interim. 6 p.c Jan. 4 Victoria Nyanza Sugar.—interim, 21 p.c Feb. 25