MARKET VERY FIRM

Dominion, Volume 28, Issue 94, 15 January 1935, Page 12

MARKET VERY FIRM

Sydney Wool Sales FREE GENERAL COMPETITION By Telegraph.—Press Assu.—Copyright. (Received January 14, 10.5 p.m.) Sydney. January 14. At the wool salc’H to-day 11,457 bales were offered, of which 10 364 were sold at auction: also 919 disposed of privately. Al) sections competed freely, Japanese end Yorkshire buyers being particularly active. The market was very firm at last week's closing rates. Comebacks and troswbreds sold readily at late rates? and good clearances were effected. Greasy merino sold at 15}d. for 7 bales. The average price of wool in Sydney last week was £l2/2/8 a bale, equal to 9.7 d. a lb. HEMP AND TALLOW FIRM High Commissioner’s Report The Department of Agriculture has received the following cablegram, dated January 12, from the High Commissioner for New Zealand, London: — Tallow: Good demand at auction; 313 casks offered, of which 236 sold at from 6d. to-1/- per cwt. advance on the prices ruling at the last auctions. Present spot quotations are:—Mutton : Fine, 23/6; fair to good, 2*l/6 to 22/6; dark to dull, 20/6 to 21/-. Beef: Sweet and/or mixed, 23/- to 24/6; fair to good, 21/6 to 23A; dark to dull. 19/- to 20/6. Mixed: Fair to good, 21/6 to 22/6; dark to dull. 19/to 20/6. Gut, etc., 19/- to 20/6. Hemp: Manila: Market firm with moderate demand for “K” grade. Janu-ary-March shipment sold at £l4, and March-May shipment sold at £l4/5/-. Sisal: Market firm, especially for early position. No. 1 afloat sold at £l5/10/-, and January-March shipment at £l5/5/-. New Zealand: Small business has been done. Highpoints: January-February shipment, £l6; fair grade, £l4/15/-. Eggs: Market irregular and easier. “Waiwera” shipment cleared at from 8/to 10/9. GOLD MINING Latest Returns The Okarito Five Mile Beach Gold Dredging Company has advised the Stock Exchange Association that their wash-up totalled 20 ounces for 101 hours’ dredging. By Telegraph.—Press Association Auckland, January 14. The Mataki return for the week ending January 13 was 18 ounces for 136 hours’ work. Mahakipawa Goldfields Mahakipawa Goldfields, Ltd., report for period ending January 9: —Full advantage was taken of the shut-down at Christmas to effect the shifting up of one of the Allen pumps from the main shaft to the Golden Gate shaft. This was completed by January 3, when, after a trial run, dewatering operations were commenced on Saturday. sth. The water has been lowered 22ft. Gin., the pump delivering at the rate of 750 g.p.m. While pumping out this shaft, we are also shifting the air-compressor up to the No. 2 shaft, so that when mining is resumed there will be a much better pressure of air available at the face, the distance being only 300 ft. from No. 2 shaft to the face instead of close on 2000 as previously. The fluming of the creek has been completed, and we are already benefiting as the amount flowing out of the Golden Gate shaft did not increase after the heavy rain at the new year, whereas before, every rain would materially increase the quantity of water overflowing at this shaft. Since receiving the above report advice has been received ft’om the mine manager that the water in the Golden Gate has been pumped out to a depth of 43ft. Big River Report Big River Gold Mines Ltd. report for week ending January 10: —Work was resumed at the mine on Monday. January 7. with a reduced personnel. There is, therefore, little to report for the week. The stone produced for the past few days is of good quality. In .No. 4 level the reef in north and south faces '.s maintaining its width. In the south face a horse of mullock has come in and shows, signs of rapidly cutting out again. The battery is working two shifts per day. Moanataiari Golconda Moanataiari Golconda Consolidated. Ltd., advise that during the past week the cross-cut has been advanced a further seven feet, making a total of 237 feet. The country rock has been very firm. There are a number of quartz stringers in the face, the country being .very hard to shoot. Blackwater Report The following is the latest report of operations at the Blackwater mine:— “Crushed 2800 tons, yielding 134 S fine ounces gold from all sources, the value of which, taking gold nt 140/- per fine ounce. ,s £9439. Working expenses £4977. leaving a working profit of £4462. Capital expenditure, £677. Development expenditure, £795. Review of development, work carried out during the month: No. 10 level was advanced 32ft. in blank. No. 12 level was extended 54ft. on reef, averaging 30in. in width and 13Adwt. in value. At the north shaft the crosscut intersected the reef at 71ft. from shaft. Reef averages 14in. wide, 7}dwt. A trial run of the aerial ropeway, which is nearly completed, was a great success.” Talisman Dubbo Report The Talisman Dubbo mine manager's report for the period ended December 29 is as follows:— Talisman No. 1 Level. —Drive south: The lode at 473 feet south is 48 inches wide, of very good value. Stoping: The quartz at 255 feet south is 12 inches, of good value. At 257 feet south the lode fissure is six feet wide, of which two feet is being saved of good value. At 255 feet south 60 feet above the level the reef is 10 feet wide. First four feet on footwall is clean quartz of good value; the next four feet is clay and quartz rubble; the next two feet is clean quartz of fair value. In the south end of the stope at 305 feet south 56 feet above level of lode is 51 feet, of which 18 inches on the footwall is clean quartz of fair value. Dubbo level: Stoping: At 210 feet north 25 feet above level the reef is six feet and a half wide, of which 18 inches on footwall and 12 inches on footwall is of good value and being saved. At 240 feet north 20 feet above the level the reef is four feet wide, of which 12 inches on the footwall and six inches on the north wall, all of good value, is saved. From 260 feet to 310 feet north. 48 feet above level, reef is four feet wile, of which about 12 inches wide of good value is saved, the balance being low grade. For 20 feet from 310 feet the fissure contains only clay, but makes again at 330 feet, the widtli increasing to 24 inches nt 370 feet. At 340 feet north 12 inches of quartz assayed very high values. From 379 feet north to 41)0 feet north the slope is 20 feet above level, and the ve'n of quartz varies from 12 inches to 24 inches in width, of fair value. Preparations have been made for driving to the south on the vein in the main level. Only a few holes have been fired, and fhe leader now shows a distinct improvement, the vein being two inches, wide nn"l shows snots of sulphides. and e : vo« go.vl results by pn"nin ,r . For the present the rise will be discontinued, and operations confined to the drive.