FINANCE & MARKETS

Sun (Auckland), Volume IV, Issue 997, 13 June 1930, Page 11

FINANCE & MARKETS

Market Buoyant

Position on ’Change

By

“Noon Call.”

A BUOYANT tone continues to be recorded in the market for all sound stocks.

Fluctuations Price movements, shown by a comparison of sales during the past 24 hours, with the price at the time of the previous recorded sale, include: Commercial Bank of Australia, rise of 3d. Goldsbrough, Mort, fall of Bd, Waihi Mining, rise of Id. Farmers’ Trading, rise of Id. Colonial Sugar, rise of ss. Mount Lyell. fall of Is. Bank of New Zealand, fall of 3d. Business on the Auckland Market Transactions on the Auckland market over the past 24 hours Included the following: Yesterday afternoon: Commercial Bank of Australia, 22s fid; ooldsbrough, Mort, Ills 7d: Colonial Sugar £42 10s: Waihi Mining. J 3.% 9d: Motional Bank of Australasia (con.). £7 15s; Bank of -New Zealand. 60s 3d. At this morning's early call: Taupiri Coal, 25s 6d; Farmers’ Trading, Ss lOd. At midday:—Kauri Timber, 14s; Bank of New Zealand, 80s (two parcels): Mount Lyell Mining, 28s lid ithree parcels): British Tobacco. 41s: New Zealand Inscribed Stock. 1032. r>i percent.. .C9S 15s: New Zealand War Loan. 1033, 4£ per cent., £ 00 10s. Market at Midday The market at midday was active, unci a comparatively heavy Volume of business was recorded. In the banking group, New Zealands were slightly easier. In the miscellaneous grout). Farmers’ Trading meet with a steady demand. Farmers’ Fertilisers are decidedly firmer, with buyers at par and no sellers. New Zealand Paper Mills are weak, with sellers at 10s Od unsupported. Wilsons Cements are very firm. * * * Alburnia Mining Coy. to Liquidate The directors of the Alburnia Gold Minins Company, at a meeting held yesterday, resolved to recommend to the shareholders the liquidation of the company. The reason is that the subscribed capital has been exhausted, and that no substantial response has been made by the shareholders to the invitation to take up the unallotted shares. * * * Seen liar Company’s Profits A gross profit of £23.490. compared •with <C 23,630 for the previous year, is -hown in the annual report and bal-

sheet of Seoullar and Co.. Ltd., Wellington. Expenses. including wages, absorbed £19,378. against £18,740, and the balance available, including amount brought forward, is £7708, as against £7,726. The dividend of 8 per cent, for the year absorbs £3.051. The dividend is at the sarns rate as last year. Waihi Gold Mining Coy. The following information has been cabled to the London office of the Waihi Gold Mining Company: For the period ended May 31. comprising 22 crushing days, 18,164 tons ? f ° r ® wero crushed, for a result of fine ounces of gold and 39,713 fine ounces of silver. This includes 1,737 tons mined from the Grand Junction nnu a ’lT'ni C i h - ielaed 742 OUfICOS Of gold and 11,044 ounces of silver, also 193 ounces of gold and 294 ounces of silver old U W*a'ih i m iffi* CS £r ° m the site oC the 9 Level.—Martha lode: At 59 fj iV n 0 \ h ° east drlve the “ SB ay value 9d l 2 ?„ 9d a ton ’ At 69 f 6et it is 25s 3d a ton over a width of 3ft. The lode int frnSfTJ at :: 9 le<?t ’ and > measurf*e?t the south wall, the first three in- 1 ,7 ?''? V s 9d a ten. The remain- * ls , of little or no value. th f°( 11 Level.—Martha lode: East of nendcu T^ a T;« C U° SaCUt dr ‘vlng is susfh. r d i t leet ’ State reef - I" the Grand Junction area: In driving east the next 30 feet Is of good grade. the full width of the lode is 45a M. ton averase value No. 11 Level.—Empire lode: South or C U,° ft n ,'vest of bath crosscut a total “„,,"°„ £eet has been driven. There is nothing material to report, worn, IS . Level ' —Martha lode, east of Williams s crosscut: Driving is suspended here. Westward at 64 feet the assay value is 44s 3d a ton, and at small. 6l IUS 6d a ton ’ The reet is * * * Dividends Due BETOKwa as >■»»". }™ii Australian Glass—final, ord., 5 “ E-5-. b ” nu s. 21 P.c.: pref final, 4 § p.C, . T’ino o; Farmers’ Trading—ord.. lo"p.c‘ e P.a. . , , , , , Tune np Loan and Mercantile—interim’ “ ord., 2 p.c.; 5 p.c. pref.. 2} 6 i P’ c * 3i p.c. . June 20 r dStro, n~ tlna J- 4 P- c: - -• June 30 Reliance Loan Coy.—final; ord.. 5 P.c., pref. 4 p.c June

TO-DAY’S QUOTATIONS

Closing quotation* at today's midday Buyers. Sellers. £ s. d. £ a. d. BANKS—

butter market rising

2- SINCE YESTERDAY A further advance has been recorded in the London butter market over the past 24 hours. Cabled Quotations show an increase of a crate. Merchants report receipt of overseas cables as follow: Joseph Nathan and Co., from TrenSrouse and Nathan, Ltd.: ‘ Butter, 1345; Market firm. Cheese, white, 78s; colled, 84s; market quieter.” Amalgamated Dairies, Ltd., from tneir London office, dated June 12: Butter, Anchor advanced to 1365; good uemand continues: Danish, 1325, f.o.b. white, 78s; coloured, SSs; Market quiet.” Dalg;ety and Company. Ltd., from tneir London House, under date June v - : ~~“J3utter: The market is firm. New finest, salted. 130 s to 1325; Danish, 134 s to 136»: Australian finest unsaJted, 126 s to 3 28s; salted. 126 s to Th ’ 120 s to 1245. 'Cheese: * ne market is steady at present prices. rsew Zealand white. 77s to 78s; coloured. 83s to S4s; Canadian white. 94s 104 s; coloured. 94s to 104 s; c.i.f., *° s to 80s. Holders are asking 2s oiore for butter.”

MELBOURNE HIDES

MF.LBOURNK, Thursday. At the Melbourne hides sale today tlv * market was very keen. Values generally, except for heavies, were an of 3, penny to & farthing dearer.

NEW GOLD DREDGE

OTAGO PROPOSITION Press Association DUNEDIN, Thursday. Every day for the past week'the big dredge built by Joseph Sparrow and Sons, of Dunedin, for the Golden Terraco Extended Goldmining Company has been making trial runnings of her machinery, at the place in the Shotover Kiver where she is to start working. It is the biggest dredge ever built In New Zealand.

The trials are reported to be quite satisfactory, and all concerned are specially pleased with the proof in actual working of the solid cast manganese steel buckets.

KUMEU HERD TESTING

The KuniCu group of the New Zealand Co-operative Herd-Testing Association lield its annual meeting this week, Mr. C. Copeland presiding. Mr. F. O. Knight, organiser of the association, gave a comprehensive review of the association’s activities during the year. He said it was gratifying to note the improved butter-fat production a cow, in view of the fact, that the number of cows under lest hud risen from 30,000 to 90.000 in three seasons. The Kumeu group had averaged 267.5ib of fat. The following committee for the group was elected: Messrs. R. P. Dane, C. Copeland and J. G. Radford.

Aust. of Commerce 1 O Australasia 12 Com. of Australia . 1 Ditto (new issue) Ditto (10s paid) . . 0 it 3 Ditto (pref ) . . . . 6 9 t) Lng . Scot. K- Aust. National of X.Z. . . 6 Nat. of Australasia 15 Ditto (eon.) . . . . New S’out u Wales . 40 0 New Zealand 9 Ditto D Mort. 1 <> f> Union of Australia . 12 0 0 12 3 0 INSURANCE— National Queensland South British .. .. 2 ID 6 3 0 6 loan and agency— Bom. Invest and Banking: . . . 0 IS 0 1 0 3 Faimers Co-op. Auct A (pref.) 0 17 Ditto Ei (pref.) .. (Joldsbrougrh. Mort . Newton Kmg (pref.) 0 t; N.z. & River Plate 1 o N'.z. Guar. Coro n 9 Loan and Merc. .. Reliance Loan . . Ditto (pref.) .. .. 1 1 0 COAL— drey Valiev o - liikurangi 0 o Ditto (pref.) .. .. 0 Ditto. A (pref.) .. Uukemiro 0 3 0 0 6 0 Renown Ditto (new issue) Taupiri 0 10 Westport West port-Stock ton . 0 1 3 0 *> CAS— Auckland 0 Ditto (con.) .. .. 0 17 9 0 18 6 SHIPPING— Devonport Steam .. o Howard Smith . .. ..Ditto (pref.) .. .. 0 -Northern Steam 1 4 Ditto (con.) .. . 0 P- & O. (def. stk.) . union steam (pref.) 1 0 1 1 0 timber— Kauri Timber National . " Barker-Lamb rj Taupo Totara .. .. 0 Ditto (pref.) .. .. 0 16 0 Woollen— Kaiapoi (con.) .. .. 0 4 0 Ditto (pref.) .. .. 0 13 6 — breweries— L. Innes .. 0 Ditto (pref.) .. .. £.z. Breweries Tooths l 1 l 15 0 1 12 16 0

call were:—* Buyers. Fellers. £ s. d. £ s. d MISCELLANEOUS— Australian Glass Anst. Iron and Steel (pref.) Booth, McDonald — 1 0 0 (pref.) 0 3 British Tobacco Burns, Philp .. .. 1 3 6 9 Bycroft. Ltd 1 9 9 Colonial Sugar 4 2 0 Dominion Pictures . 1 Ditto (pref.) .. .. 1 Dunlop-Perdriau 0 34 0 Electro. Zinc (ord.) 1 4 6 Ditto (pref.) .. .. 1 0 1 9 Farmers’ Trading . 0 8 9 h ullers Pictures .. 0 Gear Meat 1 37 0 Hamilton Theatres 0 16 6 Haywards Pictures 0 Henry Jones Co-op. H.M Arcade Theatre 1 9 3 (pref.) 3 0 0 N.Z. Drug .. .. Milne and Choice 3 4 0 3 6 0 (deb. stock) .. .. 1 National Pictures .. 13 t> N.%. Farmers' Fert. 1 0 0 N.Z. Paper Mills .. 0 39 9 N.Z. Refrigerating . 0 31 9 Ditto (con.) .. .. 0 0 5 11 Sanford, Ltd 0 0 Taranaki Oilfields . Thames Theatre . . 0 9 0 0 3 5 Union Oil 3 6 Wilsons Cement 2 5 0 6 0 MINING— Alburn ia 0 n Moanataiari (paid) 0 l Ditto (con.. 2s 6d pd) 0 0 6 Kawarau 0 0 2 Lucky Shot (is pd) 0 1 0 TViahi 0 13 9 0 13 10 Waihi Grand June. 0 1 0 1 7 Mount Lyell 1 8 5 1 8 6 DEBENTURESAuck. Harbour Board per cent 96 0 0 100 0 102 10 City of Auckland, 1958, 55 p.c. Bor. of Devon port, 6 97 0 0 3 00 0 0 102 0 0 Bor. Alt. Eden, o% 100 0 0 Bor. of Hamilton, 52 101 10 0 Booth-Macdonald .. 70 Williamson's Films 101 0 0 Gisborne S. Farmers 80 0 0 W estport-Stockton 98 0 Glaxo 90 0 0 94 0 0 GOVERNMENT LOANS War Loan, 1930, 4i 99 0 0 _ Ditto, 193S, 4>, p.c. 9* 3 0 0 Ditto, 1939, 45 p.c. 98 15 0 Ditto, 1941. 4i p.c. 98 0 0 — INSCRIBED STOCK War Loan. 1938, 41 98 10 n Ditto, 193-9. 4-5 p.c. 9S .10 0 Ditto, 1027-41, 5i 97 0 0 Ditto. 1933, 5* p.c. 98 15 0 Ditto, 1932, 51 p.c. 98 0 0 99 0 0