Buoyant Tone

Sun (Auckland), Volume IV, Issue 936, 1 April 1930, Page 11

Buoyant Tone

Market on ’Change

By

“Noon Call.”

STEAD \ trading was recorded on Change this morning. Most markets are quiet, but there is a more buoyant tone in the market.

Fluctuations price movements, shown by a comparison of sales over the past 24 hours with the price at time of the previous recorded sale, include: — Commercial Bank of Australia, rise of Id. National Bank of Australasia, rise of Is. Farmers’ Trading, rise of Id. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours included: Yesterday afternoon.—Commercial Bank of Australia, 22s Id; National Bank of Australasia, £l4 ISs and £l4 19s. At the early call: New Zealand Insurance, 43s 9d; Newton King (pref.), 11s 7d; Union Steam (pref.), 20s 4id. At midday: Bank of New South Wales, £39; New Zealand Insurance, 43s 9d: Renown Collieries, 15s; Auckland Gas, 23s 8d; Farmers’ Trading, tis 7d; Alburnia Mining, 4d. New Zealand Breweries Although the interim dividend on Sew Zealand Breweries shares is not due until the middle of the month, the shares are quoted “ex div.” This has been done to avoid confusion with the new shares made by the conversion of every two debentures into £1 ordinary shares, which date from April 1, and are dividend-earning only from that date. Moturoa Oilfields A message from New Plymouth states that drilling was commenced yesterday at the bore of Moturoa Oilfields, Ltd., which is situated just behind the bulk oil installations at the port. Mr. N. Taylor, managing director of the company, is at present in New Plymouth on the business of the company. Searching for Gold Dr. J. Henderson, director of the geological survey, returned to Waihi from Coromandel on Saturday. He has commenced further investigations of the Ohinemuri goldfields, accompanied by local mining men. The director first visited the Waitekauri and Owharoa districts, where valuable ores were discovered in 1 he early days

;of the field. The party also inspected j the Waitawheta Valley and adjacent I areas- Other likely places will be i visited during the week, but nothing I will be known of Dr. Henderson’s views on the prospects of further finds of j payable ore until he furnishes his rei P°. r *. to the Waihi Prospecting and Mining Development Company, at whose request he came to the district. Mine Managers’ Reports Mine managers report as follow: Alburnia.—The drive north on the hanging wall branch of the Orlando lode from the bottom of the winze has been driven three feet, a total of 14 feet. The reef here averages over three feet wide, but is still split into two branches. Both branches carry nice bright mineral blend and silica. Colours of gold are still seen in the ore. Repairs to main level also had to be done. Mbanataiarl.—The chamber has been completed, and a start made to drive on the reef at the bottom of the shaft in the southern end. The reef was picked up after the second round of holes, and when firing out strong dabs of gold were seen in the main reef and in the footwall stringers. The reef is wider than the drive, and there is no hangingwall showing. There are streaks of cinjiabar on the heads and cleavages, and a little zinc blende with the quartz. Tui.—The drive on No. 3 reef has been advanced five feet, u total of 111 feet from the crosscut. The reef is still split into ribs of quartz, and several veins are coming in from the hangingwall, which make it difficult to shoot. There are nice minerals in some of the quartz, but no gold has been seen. Lucky Shot.—The winze has been sunk a further distance of three feet for the week, making a total distance of 19 feet. The men have been timbering practically all of the time, and it will take another two or three sets of timber to make the place secure. Dividends Payable Timaru Breweries—lo p.c April Bank of Australasia—final. 7 p.c. A pi. 4 Howard Smith, Ltd.—-interim, cum pref 6 p.c., p.a I Apl. 6 E\empthorne-Prosser Drug Co.— final. 5i p.c Apl 8 Milne and Choyce. Ltd.—interim ord.. pref. and deb stk.. 8 p.c. P.a. Apl. 10 New Zealand Breweries—interim 7 * P- c Apl. M