Market on ’Change

Sun (Auckland), Volume III, Issue 848, 17 December 1929, Page 10

Market on ’Change

More Interest in Mining

By

“Noon Call.”

IN CliE AS ED interest is being taken in the more speculative shares and the market for mining scrip has been active over the past 24 hours.

Fluctuations Price movements, shown by a comparison of sales over the past 24 hours, with the price at the trme of the previous recorded sales i ncl ude:—Pukemiro Collieries, fall of Is. Waihi Mining, rise of 2d. Bank of N.S.W.. fall of 355. Bank of New Zealand, rise of 6d. « * • Business on the Auckland Market Transactions on the Auckland mark*v over the past 24 hours included: Yesterday afternoon. —Waihi Grand Junction. Is 4d: Waihi Mining:, 13s sd; ohinernuri Mining', 9s 6d; Bank of New South Wales, L 40 ss: Pukemiro Coal, Tils 6d: Kenown fpref.), 3s sd: Auckland Gas, 24s lid; Goldsbrough, Mort (rights), ss. At this morning’s early call.—Newton King fpref.), Us 6d; Auckland Gas, L is Lid; Ohinernuri Mining, 9s 3d. At the midday call.—On ’Change: Bank of New Zealand, 58s f»d. Reported: Waihi Mining. 13s 7d; Waihi Grand Junction. Is 4d: Mount Lyell Mining. 41s 4 Ml: New Zealand Breweries (deb.), 28s 2d. • * • Market at Midday Increased interest and trading activity in the speculative, section has <>> en the feature of business on past 24 hours. Neglecting legitimate investments until after the holidays, the more speculative section of investors is tending to boost interest in mining shares. No movement worthy of note has been recorded in the banking or insurance groups. Industrials and miscellaneous securities are practically neglected. The gilt-edge market remains firm, a parcel of 4£ per cent., 1939, free-of-income-tax bonds being dealt with at midday at par. Kauri Timber Company The annual report of the Kauri ’l imber Company for the year ended August 31 states that the profits for the year, after providing for depreciation. etc., were £20,734 13s 2d, in addition to which the amount brought forward was £653 18s. The directors have transferred £ 1 500 from the dividend equalisation fund, making a total of £22,888 11s 2d. Dividend of 3 per cent., as announced on November 16, absorbs £22,500,

leaving £3BB Us 2d to be carried forward. Following is a comparison of the company’s results for the last three 1927. 1928. 1929. Brought forward .. 12,048 3,221 654 Net profits .. .. 36,172 4,933 20,734 From reserves ... 48,221 23,154 22,888 Dividend p.c. ..6 3 3 Amount 45,000 22,500 22,500 Carried forward . £3,221 £654 £358 * * * Mine Managers’ Reports Mine managers report as follows: Moanataiari.—Sinking the shaft was started again on Tuesday night, going down to 49ft before the end of the week. Quartz and gritty material was bored into (as reported by wire), but as the shaft is not mucked out, the extent of the formation is not known, but it is thought that it is the formation met with in the adit level prior to cutting the reefs that the winzes were sunk upon. The country is still of a splendid description. Alburnia.—The leading stope on main Orlando Lode has been carried along for a distance of 99 feet, and main timbers put in the level. The work of pumping out the water in Gillan’s winze on the liangingwall branch of Orlando Lode, timbering to the bottom, putting winch bucket way and ladder way, to the bottom, is completed, and a start was made on Monday sinking. The rise on cross leader from drive north on the hangingwall branch of Orlando Lode has been risen 6 feet, a total of 74 feet. The reef here averages 2 feet wide and is looking very well, carrying bright mineral blend, ruby silver and silica. Strong dabs of gold were seen in the last breaking down. Dividends Payable Mount Lyell—final, 2s 9d share D?cl°]B Ivauri Timber—3 p.c. p.a Dec. 19 Singapore Hume—interim, 5 P-c m , Dec. 19 Goldsbrougb, Mort—interim, 5 Dec. 20 Morris Iledstrom—interim, 4 P-9 Dec. 31 British Tobacco—quarterly, 3 _,P;9* ... Dec. 31 National Bank of N.Z.—interim, 6 p.c Jan. 4 Victoria Nyanza Sugar.—interim. 2J p.c Feb. 25