MINING NEWS

Dominion, Volume 12, Issue 15, 12 October 1918, Page 10

MINING NEWS

WELLINGTON SHAKE MARKET. ■ In the mining market yesterday the only quotation,recorded was as under:— Buyers. .'Selleri. ■ £s. d. . fs. d. Westland Gold 117 6 — . ' STOCK EXCHANGE. By Telegraph—Pro6s Association. . Auckland, October 11. Sales: l Bank of Now Zealand, 18s. 6d.;' Taupiri Coal, 193. 6d.: Auckland Gas, 275. 9d.; Wellington Woollen, ££7 15s. j Talisman Consolidated, 9s. 7d.; Waihi Grand Junction, las. 9(1.; War Loan (1938), £97 15s. . Chrislchurch, October 11. Sale reportcu: D.1.0. (pref.), £I.os. 6d. Dunedln, October 11. Sales on 'Change: Huddart-Parker. (ortl.), 40s. Id.; New Zealand Paper Mills, 235. • PAPAROA. COALMINING CO.' In their'report .for the' year- ended August 31, the receivers for the Paparoa Coal Mining Company report as follows:— "The surplus on the trading account for the year amounts to £4909 7s. sd. upon total sales of coal (inclusive of sea freights, etc.) of £64..4G8 ss. Id., as, compared with a surplus last year of £2169 17s. lid., upon total sales of £42,395 3s. Bd. Of the surplus shown £2250 has been applied to depreciation, and the balance (£2659 7s. 5d.) has been credited to working capital account. The anticipation expressed in last year's report that the production of coal would exceed an average of 900 tons weekly has not been- realised. This was due entirely to the strikes which ocourred at the. mine between February and August' of ; this year. But for these stoppages the output from the mine would have rcached .an average of 1000 tons weekly. It is hoped that tho arrangements recently come to between the Coal Mine Owners' Association and the New Zealand Miners' Federation will prevent similar occurrences during the ensuing year. It is difficult to forecast the future Piarket for Paparoa coal after the conclusion of peace. During the past year, however, the market "forthe coal has been considerably extended, and satisfactory reports on the burning qualities of the coal have been received both from new consumers aiid from our old clients. The receivers ,have rearranged their selling agencies, and it is hoped that this will result in further extension of markets. Since tho last report no opportunity has arisen o£ disposing of the mine, ,but the approaching end of tho war renders 'it advisable for the first debenture-holders to consider the various of realising the property."