COMMERCIALS.

Press, Volume LXI, Issue 18412, 19 June 1925, Page 10

COMMERCIALS.

BULLER COALFIELD. CLYDEVALE COAL MINES, LTD. 'Au interesting engineering "work has f just been completed at Seddonville, 30 miles by rail from Westport. . The Clydevnte Coal Mines, Ltd., lias ; a'coal-mining area of 1188 acres, the northern portion of which is situate ono mile from the main railway. A large number of outcrops of bituminous coal ■have been discovered in different portions of tho area, and although the area is broken by fault lines, still the configuration of a large creek which runs adjacent to the property will enable detached areas of coal to he worked by simply tunnelling into the hill and working on the pillar and l bond system. The surveyed tramway up tho gorge which connects to the upper bins will be well below the general level of the coal Beams. The coal transport arrangements consist of lower bins and railway siding, aerial ropeway and upper bins with screens and coal-tipping arrangements. The lower bins are constructed in a substantial manner on pile foundations driven to tho eolid and hold 600 ton's of coal.

Tho most interesting portion of the work is the aerial ropeway, one inilo in length, extending from tho lower bins to the uper bins, and the terminal arrangements at both ends. To engineers interested in the economical transport of materials in Now Zealand the works are well worth inspection. The ropeway extends over hills and valleys. The vertical height from the lower to the upper bins is 305 feet. The ropeway is a mono-cable ono driven by a 10 h.p. Robey engine and boiler, and *bfmain rope itself is supported on 14 steel trestles. The total number of buckets on tho rope is 62 and the whole system is capable of carrying 40 tons of coal per hour at a speed of 125 yards "per minute with bucket loads of'eight owt. The ropeway shunt rail runs under tho upper bins, which hold 100 tons of coal, with compartments for screened and unscreened coal. Above ,tlie upper Sins is 'the tipping and screening arrangements and a tramway, nino chains in length, leading into tho colliery. Tho maximum capacity of the ropeway is approximately 800 tons of coal per 24 hours. The whole cost of the works, including co&t of aerisl ropeway, siding, hins.etc., is approximately £11,500. Working tests "have been made of the whole plant, which works" very smoothly and well. v The whole of the work was surveyed and the terminal arrangements, bins, and trestle foundations designed by the company's engineer, Mr H. R. Young, A.M.Inst.C.E., to whose skill and ability the success of the works are largely due. He was ably assisted by Jlr J. Quinn, the company's mine manager Mr James Ryan, the comprincipal contractor.

BANKRUPTCY FIGURES.

(SPECIAL TO "TBS PBIBS.")

WELLINGTON, June 18. During the past month forty banfcruptciea were registered in New Zealand as compared' with 65 in May of List year, and 62 in May of 1923. The figures for oach,of the past five months compared with the corresponding , months of last year show as follows : Month 19261984 January ... «, ... 47 37 Fobruary 67 48 March ... 63 67 April 60 61 May 40 (J5

Totals 257 278 A decrease of twenty-one over the five months is very satisfactory. Parmer bankruptcies were not so ' conspicuous, as there were only five .failures, as compared with seven in April and fifteen in March. During the five months 46 farmers became bankrupt, and during the same period 32 bankruptcies of labourers wero recorded. ' ' , USES OF TASMANIAN COAL. GERMAN FIRM INTERESTED. The possibilities of the Tasmaniaa coal deposits have coma under the notice of a German manufacturing firm. Aa a result of ■ enquiries whioh haye reached Hobart, toe Taamanian Government has dispatched a cablegram to Mr W. D. Reid, who is representing Tasmania at the British Empire Exhibition, instructing him to go to Berlin <. in order that the interests concerned might , ..,W -given the technical information re- .> quired., ; "It ia stated that Tasmaniaa coal has 'important .possibilities in connexion with .the production of petrol, tar, briquettes, ,«so. The German, firm concerned states * that should the coal, which abounds in s v 'various parts of Tasmania, be of the charactor desired, .it wi 1 be prepared, if desired, to send, out an engineer to superintend the erection of the necessary plant, and to set the industry in operation. APPLES EASIER. (ATOTBAUAW A3D N.Z. CABLB ASSOCIATION.) {Beceived June 18th, 8.85 p.m.) LONDON, June 17. The apple market is easier, owing to the competition of strawberri. a, which are likely to'bo plentiful in the nest ten days. New Zealand Stunners brought 14a 6d to 18s 6d. PRICE OF BUTTERi (SPrCUL TO "IBS PBB8S.") WELLINGTON/june 18. Since Monday tho wholeaalo prico of butter in,' Wellington has be~n advanced by one penny per lb, and there has been a corresponding .increase 'in the retail price. AUSTRALIAN MARKETS. (r? CAWS—PBSSS ASSOOATIOir—COPIRIGHT.) <ABBT&AUAN, ; AXD H.E. CABIJS ASSOCIATION.) (Beceived' Juno 18th, 10.45 pas. SYDNEY, June 18. Oats:- Tnaraardan Algerian Sa Bd. white <e 6d. • Maize: - Yellow 4e 6d, white 4s. Potatoes:;Tasmasian~£9,. to' £ll. Onions: Victorian £l7 to £lB, New Zealand tflS, ADELAIDE!,. .June 18. Oat*: 8a to 2a-SoV MARKET. " ... ~ NEW YOEK, June 17. V Chicago «wheat quotations are:—July, 155)' cents; September,'' 152]' cents; December, 155 cents; „ . CALCUTTA TEA SALES. CALCUTTA, Juno -17. At-the tea sales, prices generally were firm at about lata rates. There was a good demand 'for fannings and well-made leaf grades,' with'an improving tendency. For ordinary'liquoring kinds there was less do- ■ mand. Dusts wcreiErm.

I IRON AND STEEL TRADE.

HOPE FOR A REVIVAL.' ~

" The metal correspondent of tlie London "Daily Telegraph," writing on .May Ist, enid: "A revival of the iron and steel trads in general is bein.'* looked for now that tho Budget' has teen announced, but how far tho iron and steel trades will benefit remains to bo seen. Costa of production are still high, and manufacturers in consequence are unable to reduce their celling pricca to levels which would cqjipete favourably with the product of Cont.nenta.l mills. The policy of consumers bo h at heme and abroad is still one of caution, and there is very little inclination to enter into forward commitments. During tho last few weeks tho output of pig-iron has been curtailed by the damping down of additional furnaces both on the north-east coast and in the Midlands, but the restricted pro : auction has not been sufficient to stem the fall in prices. "Some of the =lcel works, however, are fairly well supplied with orders for certain kinds of materials, especially railway material in connexion with the oje'ensive programmes of expansion and electrification being undertaken by tho railways here. In addition, there i 3 a fair amount of activity at engineering woiks, the reconstruction and rebuilding at present going on both in London and in ether parts cf the country furnishing a proportion of work to thi mills. Shipbuilding, however, which, after all, is tho backbone of Ihe steo'. trado, contiiise3 in a poor state, and until there is some revival of importance in this direction tho steel trade can hardly to called in a , favourable position. A • good - deal of material, mostly F.emi-finishcd, continues to 3ome in from tho Continent, and finds its way to tho rc-rollers, but the exports from '.his country. to other parts of the world make a poor showing." TIMARU- MARKETS. (SPECIAL TO "TIM »MSS."> TIMAKTT. June 18. Business in the local groin and produce markets is invariably quiet at this time of tho year, and the bulk of the aupplies is out of tho lronda of the growers. Very little wheat has baen offering from-growers, and most cf (ho supply is in millers' hands. South Island millers ho".d fair stocks, whila North Island millers will require wheat towards the latter end of next month. Fowl wheat is in ,gcod demand for good quality at milling prices. . Oats are dull and very little h«3' been shipped B grado Gartona are worth about 4s Id f.0.b., s.i.,i find good heavy dark I Duns and Algerians fit for seed are realis'ng about 3s 9d at country stations Light and inferior samples. are worth, from 2s 9d to 3s. There is a little mo'« enquiry for potatoes, j and b\ryers are offering £4 to £i 2s 6d on trucks for table varieties. Linseed remains' at about £l7, on trucks ! for f.a.q. ■ Local chaff lias been of poor quality and ; is hard to place. Good heavy, ripe oafsheaf is worth £4 ss, sacks found bv buyers.. Cowgrass is quoted at 8d to 10d, and there is a. fair quantity offering. Whito clover samples, are fairly good on ,'tho average, nnd realise Is 4d to Is 9d. Bysffrass is dull and there is •nothing do'n? in the .export line. Heavy perennial machine-dressed is worth 6s 6d. Western. Wolths- and Italian are,- ;in, over-supply, prices being nb>ut 4s (3d to 6s for machinedressed samples. ' Thore is a, fair enquiry for peas at 4s 6d to 5s per bushel. SOUTHLAND MARKETS. , (SPECIAL 70 "the pbess.") ' , INVERCARGILL, June 18. Oats —Tho market is very firm this week, and sales have been made of super A's at 4s Od per bushel for shipment by the Wanaktt...'lt is estimated, that this steamer will be taking from 8000 to 10,000 sacks of oats from the Bluff. These deliveries will reduce local stocks to an extremely low level, and it is probable that-when the seed.requirements are taken into* account, only a very little more will be available for shipment. Prices to farmers are nominally from 3s lid to 4s por bushel "for A" grade. Chaff-—The- market- is fairly well isupplied, but merchants are buyers .of (only, really prime, lines. For these 'up. \to £5 per ton on trucks at country stations is being offered. Wieat—There is . very little Vfheat now offering, and as local stocks of" fowl wheat are. not oxten'sive,' Southland'buyers'will probably have to look to outside-,sources for later supplies.' ' . ..":'' \, ..'.'' ' Ryegrass—There' is a ' steady demand for dressed ryegrass, particularly 27-281b and 281291b lines,' at' about" 5s *Bd per bushel f.o.b. There is , not much, .offering from farmers,' and- prices are nominally- about-;4s for heavy, clean lines. ' Potatoes —The market' is very fully --supplied.at tho present time, but in many cases the. quality .is not of the best. Prices are nominally about £4 -per ion. • Fruit—During the past' weak' very few linea of .apples have- come to. hand, and prices 'are 'much' firmer; -A nice 'sample of hothouse tomatoes arrived from' Ohristchurch, and found & quick sale','at Is Cd per lb. A particularly good, sample Gros Colmar, grapes . forward, from the Oamaru district realised 3s per lb. . Currant prices are as follows: —Apples, Jonathans (choice) 8s to 10s, Delicious 10s to 14s, cookers 4s to 8s Od, hothouse tomatoes Is 6d per lb, bananas 25s to 80s per.-case, oranges (Tahiti repacks) SOs. Australian navels to 80s, mandarines to 27s ' 6d, to' 27s 6d, passion fruit to 23a Cd, grapes to 3s,per lb. OXFORD MARKET. The entries at -the country markets are now- very small. At Oxford, -yesterday, only 244 fat lambs, 153 fat ewes, 8 fat wether*. 107 store sheep,; 3 head of- cattle,' and. 20. pigs wore yarded.' The' Bales of, sheep i were: 24 fat lambs at 28s lid, 34 at 25a, 50 at 26s sd, 6at 81s, 24, at 32s 6d, 4at 34s 6d, 24 at 27s 7d, 33 at 28s 7d, 25 at 30s 7d; 20 fat owes at 20s 9d, 20 at 21s 9d, 12 t>t 83s-6d, 12 at 28s 7d, 4 at 18s '4d,'B at 20s 10d,\6 at 18s ld,.lo.at k 2ls lOd, 5 at 33s Id, and 6 at 25s 6d; fat wethers at 27s 6d to 38s 3d; stores, 19 lambs at 19s Cd, and 14 at 28s lOd. - The eattlo and pigs sold at ruling values.' '""'..'•■':'■ -^%" : ■ UNION STORAGE INCREASE. OtrSTKAUAN AJTD N.Z. CABLE ASSOCIATION.) - LONDON. June 17. Shareholders tin the -Union < Cold. Storage Company, Ltd., have approved, of an,increave of the C per cent, preference capital to £8,000,000. . .' i ~. A section of the shareholders viewed the action with'suspicion. ■• The directors explained .that it indicated, the healthy continuous growth of the business,- enabling natural development. . TALLOW.

(BT CABLK—PBESS ASSOCTATIOK-<COPTHIOHT.) (AUSTRALIAN AKD' H.Z. CABLE ASSOCIATION.) LONDON, June 17. At the tallow sales, 589 casks were offered and 150 sold. Prices.were unchanged'.

Dalgety;. and Company,"• Limited, have received 1 tho -following cablegram from their London office, dated June 17th:— "Tallow: At the weekly auctions 590 casks tallow were offered and 160 sold. Prices are nominally unchanged." CHINESE TEA MARKET. LAST YEAR'S POOR CROP. ' The fact that the tea-growing season last year was comparatively poor in China and. Japan was one of the causes' of the strong market for most of the grades grown in China. Prices higher than those of 1923 by from 35 to 25 or 30 per cent, prevailed during .most of the buying season. They were especially strong about middle season, or in July and August. Dealers considered the green tea market better than in black varieties, as* in the latter.an unusual shortage curtained selling. •Production of green tea, however, was also short, restricting the market, ao that only a-few dealers were able to carry on a satisfactory trade. It was {generally said during the -season that the high prices of - China teas were sending purchasers into the market for other grades. However, a count at the end 1 : showed that > it was the best grades that - were' -sold • out; and. only stocks of the poorest remained -in. the warehouses.

CLEARING SALE >OP rugs, and;PIANO^

Jones, MeCrosMe Con»pany,\ Ltd..' held a very-'successful sale ,in -their, rooms yesterday, when -'they, were crowded- out. . A piano realised £l5O. Suventy-eight ? carpets wore Bold/and realised from £4 10a up to £l3 10s 'each, and '3OO rugs realised from £1 to £3 5b each, the whole shipment being disposed of. The total amount realised was about £I3OO.

CHRISTCHURCH STOCK EXCHANGE.

YESTERDAY'S TRANSACTIONS.

Sales reported:—Union Bank, £l4 15a 6d; National Bank of N.Z. (rights),' 27e; Bank of K.Z. (new), 56s 3d; New Zealand Breweries, 41s; N.Z. Guarantee Corpn., 10s. Sale on 'Change:—Bank of N.Z. (new), 6Cs.

OTHER EXCHANGES. . i ■ '. ■ ' • ', / (PEE3S ASSOCIATION TELEOEAMS.) - • AUCKLAND, June 18. Soles—lnscribed 6tock, 1938, J896 15S; Breweries (Debentures'),' 22a; National Bank (rights), 26,s 9d; New Zealand Insurance, 84s 8d; South British, 50s 6d; Auckland <3-a9. 23s 6d;,,Grey and Menties, 10s; Breweries. . (shares), 40s 6d,; Sanfcrd,' Ltd., 21s; Taranaki Oil, 225; Fanners' Fertiliser, 90s; Waihi, 265-9 d. WELLINGTON,-Juno 18. ' Sale—National Bank of New Zealand. £1 '*" DUNEDIN, June 18. Sale—Nokomai Hydraulic, Cs. • MAIZE IN AUSTRALIA. HEAVY QUEENSLAND STOCKS. Though tho importation of heavy maizo etocks. from- Queensland caused New South Wales growers soma anxiety recently, they weru surprised to find that, in spite of this and is spite of the virtual cessation of the demand from the country, prices advanced several pence a bushel. It is stated in ono quarter that holders of imported grain have "boosted" the market for local grain in. order to effect satisfactory clearance of their own etocks at slightly shaded figures. Encouraged by the firmer toho of the local market, it is not unlikely, 6ays a. Sydney paper, that Queensland growers will make heavier ehipmerite to Sydney, though there is. no- doubt that soma Queensland maize, has been parted- with at prices decidedly below tho .official market rate.

LATEST QUOTATIONS. Buyers. Sellers. £ a. d. ,£ ad. N.Z. GOVT. DEBENTURES— 4i per cent. Inscribed, .1938 36 12 C 97 0 0 4J per cent. Bonda, 1933 90 12 6 . 5J per cent. Inscribed, 1933 101 10 o OTHER DEBENTURES— Christchurch Drainaj fe5J per cent. es 0 0 Christchurch Tramways, 5$ per cent. 97 10 0 New Brighton-Borough, 5J per cent, _ 1C0 0 0 N.Z. Breweries, Bends 1 2 o Glaxo, GJ per cent., 1943 S3 0 0 t Booth, Mncdonald, 6i per cent. 70 0 0 75 0 0 Wellington Gas, S rer cent. 103 0 o BANKS- • 1 Adelaide S 3 0 Australasia 14 8 €' 14 13 G Bank -of Victoria 7 7 G Coram, of Aust. 1 10 0 1 11 6 Comm. of Aust. (pref.) 6 H 0 Comm. of Sydney .. . £4 15 0 Rational o£ A'asia (£10 paid) 16 11 0 IS 15 0 National of. A'asia (£5 paid) S 3 0 8 5 6 National of ■ N.Z. (rights) 1 6 11 1 7 1 New Soath 'Wales 41 5 0 41 10 0 New Zealand 1 (cum div.) 2 17 3 2 17 9 Royal (£1 paid)1 16 3 1 17 0 Union' of Aust. 14 14 0 14 16 0 INSURANCE— New Zealand 1 14 0 1 14 8 Queensland 2 8 0 South British 0 10 3 i National -.'. 3 11 0 LOAN.AND AGENCY— National Mortgago - 3 18 0 Ooldsbrough, Mort (cuin div.) 2 7 3 Permanent Investment 9 18 0 SHIPPING— Howard, Smita „ 1 14 9 ■ Huddart-Parker 2 .4 9 P. and 0. Deterred .. 272 10 0 FP07FW MEAT— Canterbury .». 12 17 .0 13 5 0 G«ar ' — 2 4 G • N.Z. Refrig. (paid) ,. 0 18 G 0 19 3 N.Z. Refrisr. (contr.) „ 0 9 0 0 9 3 WOOLLENS- ' Kafapoi (ord.)' • _ 0 13 0 COAL— Westport 1 10 0 1 11 8 GAS- ' Christchurch 7 12 6 7 14 G Tijnaru .7 7 0 BREWERIES— Manning ..; 1 17 0 New Zealaud 2 0 3 2 1 6 Ward 2 16 3 2 18 0 CEMENTS— . WilBon's 1 12 6 1 13 0 TIMBER— Kauri 1 11 0 1 12 6 MISCELLANEOUS— Australian Glass .. 1 10 G Beath and Co. 1 11 0 1 12 9 B.A.W.R.A. 0 11 0 0 11 3 Burns. Philp 1 15 6 1 1G 0 Colonial Sugar . 51 10 0 Electro. . Zinc (pref.) .. 1 8 G 1 9 8 EJe-ctro. Zinc (def.) 1 .7 0 1 8 0 Mason, Struthers (£1 "' paid) ' " .. 1 3 0 1 3 0 Mason. Struthers (14s paid) .. 0 15 6 0 16 v 3 Mason, Struthera (10s paid) 0 11 3 0 12 0 N.Z. Draff Co. .. — 3 6 0 N.Z. Farmers' Co-op. (£2 10s paid) .. .. — Oil 0 N.Z. Farmers' Co-op. (6 per ■ cent, cum pref. ra div only) — 2 9 0 N.Zk Farmers' Co-op. (6J per cent. Stock; .1930) .. ... 89 0 0 ■ — N.Z. Farmers' Co-op. (6j per cent. Stock, • 1985) ■'■■,....■ . .84 0 0 .— N.Z. Guarantee Cornn. .0 10. 0 _ N.Z. Malay Rubber (ord,) 0 19 0 — N.Z. Paper Mills 1 0 6 1 1 3 Whiteombe' and -Tombs 3 10 0 3 12 0 MINING— Mt. Jjyell (cum div.) .. 1 1 7 1 1 10