Commerce, Mining, & Finance

Evening Star, Issue 21742, 9 June 1934, Page 12

Commerce, Mining, & Finance

THE SEARCH FDR GOLD GOLDEN DAWN RETURN For the twelve working days ended June 2 the Golden Dawn Mines treated 816 tons for a return of £1,628, on a basis of £7 2s per ounce. TALISMAN DUBBO COMPANY Talisman Dubbo Mines report that forty-eight wet tons (equal to fortytwo dry tons) were treated for an actual realisation of £205. MATAKI DREDGE The following is the official return of the Mataki Gold, Dredging Ltd. iYield, 38oz; hours worked, 132; yardage, 13,000. BELL-HILL SLUICING During the last month the work on the new tunnel from George’s Creek has been carried on in conjunction with sluicing operations. It has been found, necessary to retimber the tunnel, and this has now practically been completed. . . • . ~ , . The water for this ; period has been used on the top level, and heavy tails of material have been, brought down. After 1.30 hours’ sluicing 30oz of gold were obtained. to tne fact that so jnuch of the top face has been brought down,’ it has not been possible to treat any bottom ■ or middle material this month. ' : ; i : Improvements ,at the claim are. still iri progress, and after the tunnel is completed and the road to the claim improved the . men will be engaged in the construction of a new dam with the intention of conserving. more, top water for the cutting nozzle. .Sluicing operations will continue as usual during the extra development work. THE GOLDFIELDS DREDGE The secretary of the Goldfields Dredging Company Ltd. reports as follows: —■ Owing to the continued; high condition of the river, and' the succession of floods, the dredge has not been operating. During this period, however, good work has been carried, out by the dredge master in extending the whole of . the power lines to the Big Beach and in the preparation of the necessary anchorages for tho dredge going through the gorge. Dredging operations have now beeii resumed, and for the next two weeks the dredge will be operating in the straight portion of the gorge above Higher Tucker Beach. Advantage has been taken during the period that the dredge was not in operation to overhaul thoroughly all the plant, and unless conditions in the river through flooding are‘ such that “ the dredge will require to shelter, it is anticipated that the gorge will be negotiated in ten weeks. Regular fortnightly reports will be published as to the progress of the dredge in the gorge. BIG RIVER MINES The annual report of the claim manager for Big River Gold Mines Ltd. states! — , The management of the mine was taken over from Mr Lake at the end of November last; the work being carried out at that time was: Stoping in No. 3 level south drive, on Jones’s reef above No. 3 level, and the relining of the shaft from No. 3 tp No. 4 level. This latter work was completed to the top ' of the No. 4 chamber. Since that time the sliaft and chamber at No. 4 level ■ have been completed, and the No. 4 cross-cut driven a distance of 270 ft from the shaft.' No. 3 east cross-cut was started, and has been driven a distance of 94ft, a total distance of 120 ft from the point of intersection of the No. 3 south level reef. From the stopes in No. 3 south drive and Jones’s reef — which appeared to be almost exhausted —continual prospecting ha's resulted in an output of 100 tons per month being maintained. The No. 3 east cross-cut is in new country as far as the upper levels are concerned, but should cut quartz-bearing country proved by workings in the lower, levels. No. 4 crosscut is being driven primarily to intersect the lode formation stoped in No. 3 south level. A distance of 208 ft brought tho face to a point vertically below the point of intersection of the reef in No. 3 level. The face has therefore been advanced 62ft in the underlie of the reef. It is almost impossible to determine accurately the total underlie east of this formation. A winze has ' been sunk from No. 3 level a distance of 55ft. This has only a slight dip to the east, but as the country for 40ft in the No. 3 level before reaching tho reef is a series of reef tracks, it is possible that the winze has passed into tho footwall of the maim lode. Taking all the visible physical facts into consideration it is evident that a further distance of upward of 50ft to 80ft will have to be driven before the existence of the reef in No. 4 level can be definitely determined.

KING SOLOMON RETURN The return from the King Soloiqon mine this week was 530 z 15dwt. BELL-KILGOUR COMPANY ■ The secretary of the Bell-Kilgour Gold Mining Company Ltd. advises that the wash-up for the week ended Juno 8 amounted to 7oz 17dwt 12gr for five days’ work. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright. SYDNEY, June 8. On the Stock Exchange there was a record turnover of gold shares, but price movements were not spectacular, sellers being anxious to take profits. This was caused by a reaction from the higher levels earlier in the week. Despite the announcement of the heavy over-sub-scription of tho new internal loan, the investment market was quiet, the uncertainty in regard to the wool sales causing hesitancy. ■ , Late Sales.—Bank of New Soufihj Wales. £3l ss; Commercial Bank of Sydney, £l7 10s; National Bank (£5 paid), £6 6s; Colonial Sugar, £66 ss; Associated News, 22s 7Jd; Associated News (pref.), 245; Australian Gas (A), £7 19s 6d; British Tobacco, 38s; Tooth’s, 44s 3d; Toohey’s, 28s 6d; Goldsbrougb, Mort, 31s 3d; Winchcombe Carson, 29s 6d; Morns Hedstrom. 16s 6d; Henry Jones, 32a 9d ; Fairymead Sugar, 35s 6d; Electrolytic Zinc. 265; Anthony Horderh, 14s 6d; Anthony Hordern (pref.), 255; Lustre Hosiery, 23s 9d; Standard Cement, 17s 9d; Automatic Totalisators, 18s; Commonwealth Wool, 19s lOld; General Industries, 12s Id; General Industries (pref.), 235; Goodyear (pref.), 32s 6d; Drug Houses of Australia, 19s 101 d; Mount Morgan, 26s 3d; Broken' Hill Proprietary, 46s 3d; Kuala Kampar, 16s* 9d; Rawang Tin, 8s 9d; Placer Development, £24 12s; Euratha Gold, 13s 3d; Tullamore, 255; Lancefield, 12s 9; Arnheim, 13s lOd; Golden Mile, 3s 2d; Golden West, 4s Bd. MELBOURNE, June 8. Sales. —Bank of Australasia, £ll 10s; Commercial Bank of Australia (pref.), £9 15s; Goldsbrougb, Mort, 31s; Mount Lyell, 21s. TALLDW MARKET Pmi Association—By Telegraph—Copyright LONDON, June 8. (Received June 9, at 10 a.m.) Tallow: Stock, 1,639 casks; imports, 1,000; deliveries, 693. PRICE OF GOLD Press .Association—By Telegraph—Cppyright LONDON, June 8. (Received June 9, at 11 a.m.) Fine gold is quoted at £6 17s 4fd per oz. DOLLAR AND FRANC Prsu Association—By Telegraph—Copyright LONDON, June 8. (Received June 9, at 11 a.m.) The dollar is quoted at 5.05 J and the franc at 76 5-8. NEW GUINEA SHARES Press Association—By Telegraph—Copyright. LONDON, June 8. (Received June 9, at 11 a.m.) New Guinea shares are quoted at 5s 3fd. DAIRY PRODUCE Messrs Dalgety and Co. Ltd, advise having received the following cable from their head office, London, dated the 7th inst.:—Messrs Samuel Page and Son report as follows:—Tho butter market is firm, but less active; the cheese market is firm. Quotations: Danish butter, 86s; New Zealand finest butter, 77s to 795; Australian finest unsalted butter 74s to 765, salted 73s to 755, G.A.Q. 71s to 725. New Zealand cheese—White 46s to 475, coloured 44s to 455; Canadian cheese—White 52s to 565, coloured 52s to 565, C.I.F. 47s to 48s. A. S. Paterson and Co. are in receipt of the following cable from their principals, Messrs J. and J. Lonsdale and Co. (London) Ltd., Loudon, dated 7th inst.:—“ Butter; Market firm, but slow demand. New Zealand, 78s 6d, 795; Australian, 745, 75s ; Danish, 665. Cheese: Market is firm’in consequence of small stocks. White, 475; coloured, 44s 6d; Canadian, 495, c.i.f.” The South Island Dairy Association has received the following reports from London:—Butter, 77s to 795; Danish, 86s; market steady. Cheese: Nominal, owing to short supplies; white, 47s to 48s; coloured, 45s to 465.

CANTERBURY MARKETS The local potato position is a little brighter because of wet weather delaying the diggings, and the f.q.b., s.i, price has improved to £3 15s per ton for prompts. Where potatoes have been .dug it has taken a few days for them to dry sufficiently to truck away. A few days’ fine weather will allow supplies to come to hand. The boat early in the week took 4,500 sacks, and another boat is loading to-morrow. Fowl wheat is dull of sale, and is quoted at 3s Id and 3s lid, f.0.b., s.e. Partridge peas are worth 4s 3d, f.0.b., s.i., for No. I’s. Oats are not inquired for. Nominal quotings are Is 8d and Is 9d for Algerians; A Gartons to Is lid, and B Qartons to Is Bd, all on trucks. There is little cocksfoot offering. Values are 9d to lOd per lb for farmers. Dressed ryegrass has eased _ off to _3s to 3s 3d and there is no inquiry for it. Cowgrass is worth 8d to 9d per lb, and white clover Is to Is 3d to farmers. Crops of both have been short and prices are so high for most seeds that buying is very restricted. LONDON PRODUCE MARKET The Bank of New Zealand has received the following advice from its London office, under date Bth inst.: Frozen meat: The market for wethers has improved owing to short supplies. For ewes the market is firm, with an upward, tendency. For lambs demand and prices arc steady. Wethers,, light 5d to fid per lb, heavy 4Jd to 4£d; ewes, 3d to 4id; lambs, twos 7id to 7|d, eights 7d to 7id, fours 6{[d to fij-d, seconds 7d to 7Jd. THE APPLE MARKET Press Association—By Telegraph—Copyright LONDON, June 8. (Received June 9, at 10.30 a.m.) The Nebraska’s and Port Curtis’s New Zealand apples realised; —Ballarats, 10s 3d to 11s; Jonathans, 6s to 9s; Sturmers, 6s fid to 8s fid; Delicious, 6s 3d to 8s fid.

FRUIT AND PRODUCE Bray Bros. Ltd. (Dunedin) report as follows for week ended to-day:— The frosty weather has enabled the threshing mills to get into the paddocks, and as a result more wheat has been offering during the week. All good lines are being taken by millers, but a difficulty is being experienced in placing Hunters, of which there is too much coming on the market. _ The demand is chiefly for Tuscan, which is required for mixing purposes. The quality of the wheat now reaching the market is very good, and it is quite hard in condition and full in the berry. For this month prices in Otago moved up Id, the advanced prices to farmers now being 3s Bd, f.0.b., growers’ nearest port, for Tuscan, 3s lOd for Hunters, and 4s for Velvet. The fowl wheat market is quiet, and shipping values have declined to 3s lid, f.o.b. at Canterbury ports. This weakening is reflected on the local market, and, moreover, there is too much wheat available here for immediate requirements. Best quality fowl wheat is worth 3s 4d per bushel, sacks extra, ex store. Under-grade sells at proportionately lower figures. Millers’ prices for flour, etc., are as follows;

Flour.—2oolb, £l4 2s; 100’s, £l4 17s; 50’s, £ls 2s; 25’s, £ls 75.. Bran, £4 10s per ton. Pollard, £6 10s per ton. Oatmeal.—2oolb, £l9; 25’s, £2l. There is no change to record in the oat market. Only a few sales are going through on a basis of 2s sd, f.0.b., s.i., for A’s and 2s 2d for B’s. The quantity offering is in excess of the demand, and this despite the fact that stocks are lighter than has been the case for some time. Millers are not operating, and merchants are inclined to hold off owing to the poor outlook for oats. The current value for oats is: A’s Is 9d, sacks extra, on trucks country sidings, and B’s Is 6d. The: chaff market is being kept well supplied. An occasional truck load changes hands at £3 15s per ton, sacks extra, but the demand is mostly for store lots, in this case the price being up to £4 5s per ton, sacks extra. There is little change to record in the potato market, and sales are difficult to effect. Ample supplies are arriving from the surrounding districts and from .Canterbury. Reports from Auckland state that the market there Is being well supplied with _ locallygrown tubers, and with consignments from the South Island, Ihe current shipping value is £3 10s per ton, f.0.b., s.i. The local market is inclined to weaken. A few sales have been made at £4' 5s per ton, sacks included, and sales have also been made nt £4 per ton, ex truck. No fresh developments have taken place in the seed markets. Prices remain firm with stocks in all the main lines on the short side. The short crop of cocksfoot has caused a further firmness, and it is difficult to secure quotations from Canterbury. Certified Akaroa has been sold at up to Is 4d per lb, on trucks, Christchurch. Browntop, Chewings fescue, an f* crested dogstail continue firm. It is considered that the smallest crop on record has been, threshed in these three seeds. White clover is offering more freely, especially from the south, and it appears that the shortage in Canterbury will have to be made up with southern supplies. ... Owing to the influx of country visitors business in the fruit marts improved during the past week. We beg to report there is a much better demand for well-coloured dessert apples. Poor quality Delicious and Jonathans are hard to place. Choice Stunners have a better demand. Two and three-quarter to three-inch cooking varieties have a good enquiry. . . American lemons are in full supply. Sales are'slow owing to the high cost of the fruit. New Zealand-grown are offering at reduced rates. Pears have been offering freely. There was a better demand at the end of the week for choice quality lines. Supplies of Central Otago grown are easing off quickly, and satisfactory prices should be obtained from now on. Odd lines of outside-grown tomatoes are still arriving from Christchurch. The demand is poor. Hothouse grown have a sound enquiry. Choice quality green peas are realising high prices. The auction rooms are now clear or the last consignment of Island oranges. These arrived in inferior condition, and had to be sold at reduced figures to clear, „ , The market is bare of bananas, and retailers are awaiting the incoming shipment off the Maui Pomare with Samoans and Niue Island grown. The vessel, which is due at Lyttelton on Monday morning next, has radioed that her shipment is in excellent condition. Fresh supplies are due to arrive in Auckland per the Monterey on the 15th inst. Cauliflowers have a good demand, but cabbages, lettuce, carrots, and swedes are in oversupply, and sales are hard to make. There is, however, a good enquiry for parsnips. Choice butter and honey is inquired for. The egg market is unsteady. The following prices were realised during the week:— Apples—Cox’s Orange, 7s to ,8s 6d; Jonathans, 5s to 7s 6d; Delicious, 5s to 8s; Cleopatras, 6s to 7s 6d; Wolseley, 4s to ss.

Pears —Conference, to 3s; Winter Cole, 2s 6d to ss; Buerre Bose, 3s to 4s 6d; Jargonelle, 2s 6d to 4s. Tomatoes —Locals, 6d to Is; Christchurch, 3d to 7d. Grapes—Hothouse, lOd to Is 6d; Gros Colmars, 2s. New Zealand passions, 7s to Bs. N.Z. lemons, 10s to 15s. Californian lemons, to 48s 6d. Californian Navel oranges, to 42s 6d. Californian Valencias, to 40s. Californian grape fruit, to 40s. Jstand oranges, 12s 6d to‘lss. Bananas, ripe, to 20s. Scarlet runner beans 2d. French beans, 2Jd to 3d. Peas—Choice, 2d to 2Jd; others, Id to lsd. Quinces, 2d to 2id. Cabbages, Is 6d to 2s 6d. Cauliflowers, 3s to ss. Carrots, 2s to 3s sugar bag. Cucumbers—Hothouse, 3s 6d to 6s per dozen; outside, 2s per dozen. Lettuces, Is to Is 6d. Potatoes, 4s 6d to 5s 6d. Onions, to £3 per ton. Marrows, wanted, to 6s cwt. Pumpkins, to 3s 6d per bag. N.l. melons, to 11s cwt. Honey—ilb pats, 3s 6d per dozen; section, 8s 6d; 101 b tins, ss; bulk, 4d to sd. Fowl wheat, to 4s 6d per bushel. Dairy butter, to 7sd per lb. Cheese, sid lb. Eggs, market rates. Macdonald and Miller’s gold medal bacon, lOd to lid. Boneless hams, Is OJd. Lard, 6}d.