General Improvement

Sun (Auckland), Volume III, Issue 889, 5 February 1930, Page 10

General Improvement

INCREASED BUSINESS

A NOTICEABLE improvement is registered in many of the quotations this morning, banks being foremost, and many shares are changing hands.

Business on the Auckland Market Transactions on the Auckland market over the past 24 hours included: Yesterday afternoon: Auckland Gas, -Cl 3s M; Auckland Gas, £1 New Zealand Government War Loan, 1939, 4J per cent.. £99 ss: New Zealand Inscribed Stock, 1939, 4A per cent., £99 ss. At the morning early call: Northern steamship, 13s 9d; Farmers’ Trading L> pref., 12s 6d. At the midday call: Commercial Hank of Australia, £1 3s 9d: Lank of New Zealand, £2 15s 6d; Union of Australia, £ll Is 6d; Moanataiari (paid), 2s; Mount Lyell, £1 16s 3d. Market At Midday In the bank section, Commercial of Australia are improving, buyers Quoting 23s 6d f sellers now 245. Rights are in demand, while the preference issue has persistent buyers at £6 13s » ; d. National of Australasia, both issues, are in demand at increasing figures. Wales are unchanged. Union of Australia have many buyers and shares have improved to sales. £ll Is »'-d. The miscellaneous section is active. Australian Glass has improved sixpence. British Tobacco are also slightly firmer. Burns. Philp, have lirmed nineponce, no sellers quoting today. Colonial Sugar have improved 10s. Electrolytic Zinc, both issues, are firming. Mining remains quiet. Moanataiari are unchanged. Waihi buyers have improved one penny. Mount Lyells have improved Is 6d, sellers now quoting 36s 3d, and sales at this figure. Moanataiari Mining In a half-yearly report, dated January 16. the directors of the Caledonia Kuranui Moanataiari Mining Company >tat© that the low grade tests have been completed, and the mine staff is engaged in exploiting the reefs in the Southern portion of the property. In view of the actual value of the ore re\ealed by the tests, the directors have beoided to acquaint overseas mining Finance houses of the position, and in-

1 vite their co-operation. In the southern portion of the property the incline shaft has been sunk and is now down 5 Bft, and already two quartz formations I have been encountered, but it is not expected that the reefs which carried the gold in the c old workings will be met with until °a further 20ft to 30ft have been sunk. The country rock is all that could be desired from a goldbearing point of view, and the directors are very optimistic as to results when the reefs are cut. Mine Managers’ Reports Waiomo Splphide.—The north drive on the new reef has been extended 204 ft, and has penetrated the intrusion of hard rock. A rise on this reef to connect with No. 2 level. 110 ft overhead, is being commenced 194 ft south of the present face. A crosscut has just touched the foot wall of the new reef at No. 2 level. A leading stope is being taken along at No. 3 level north and south in payable ore. Stopes are also being carried on the Zeelian reef and on the North reef. The aerial tramline has been completed and awaits equipment with electrical power. The completion of the power installation should be effected in about ten days. An effort is being made to bring the milling and concentrating plant into operation during the present month. * * * Dividends Payable Due. Commercial Bank of Australia—interim, ord., 15 p.c. p.a.; pref., „ 4 P c » P- 3 " Feb. 7 N.Z. Insurance—interim, lid a share Feb. 12 Queensland Nat. Bank—quarterly, 21 p.c Feb. 13 \ ictoria Nyanza Sugar—final for last financial year, 5 p.c., and interim for current year, 2i p.c Feb. 25 Broken Hill South—quarterly, 2s a share Feb. 26 Wellington Gas —final, 4 p.c. .. Feb. Electrolytic Zinc—interim, ord. and pref., 12 p.c. p.a Mar. 6 Call— Moanataiari, 2s 2d paid—2d a share .. Feb. 6 Occidental—ld a share Feb. 7