Commerce, Mining, & Finance

Evening Star, Issue 21744, 12 June 1934, Page 7

Commerce, Mining, & Finance

AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyrigh SYDNEY, June 11. The Stock Exchange was extremel; dull on the investment side, but thi gold share market was very active, es pecially in regard to low price and uu proved ventures. Bonds were t'airl’ strong, although quiet. Later Sales;—Howard Smith, 14s 7d Burns, Fhilp South Seas, 255; Toohey’s 28s 6d; Goldsbrough. Mori, 31s 6d Electrolytic Zinc (pref.), 33s (id; An thony Hordern, 15s Utl; Lustre Hosiery, 23s 3d; Mount Morgan, _27s Broken Hill Proprietary, 45s 3d; Nortl, Broken Hill, 92s 6d ; Hawang, 9s; Kate Tin, 29s 6d; Tullamore Gold, 22s sd: Euratha Gold, 13s Oil; Kuala Kampar. 17s. MELBOURNE, June 11. Sale.—Hoyt’s (A-•■pref.), 21s 9d. N.Z. IRON INDUSTRY BRITISH INVESTORS INTERESTED [P»» Unttsd Pkisj Ahociatiom.] ■'i ■ , , WELLINGTON, June 10. There is a possibility of important developments taking place in the New \ Zealand iron industry as the result of ' investigations to be made shortly by an English firm. It is understood that a number of British investors are prepared to put money into the industry if mtisfied with the prospects. Experts from an English firm will carry out tho investigations, and tho Unemployment Board has agreed to pay half the cost of this. The principal investigations will be made at Onakaka and Taranaki districts. . AUSTRALIAN DRIED FRUITS , SALES IK GREAT BRITAIN The Commonwealth Dried Emits Export Control Board reports that in the week ended May 24 201 tons of Australian dried fruits were sold in Great Britain. Sales .of, 173 tons of 1934 currants averaged LIT 18s LOd a ton.- New season’s sultanas are just Beginning to come on to tho market, and'thirty-nine tons have been sold at an 'average of £43 9s’Cel a ton. N.S.W WHEAT STOCKS IK GOVERNMENT GRAIN ELEVATORS The quantity of wheat held in New South Wales Government grain elevators on May 31 consisted of 12,647,000 Bushels in country silos and in transit, and 6,451,000 bushels in the Sydney {terminal elevator, making a total of 3.8.998.000 bushels, as compared with 35.084.000 bushels a year ago. SHEEP FOR JAPAN •A! representation,.*-qf ;i the: /Japanese Department of Agfictllf Sliita, arrived recently in Sydney on the Kyokkoh Maru for tho purpose of selecting about 500 Corriedale sheep for experimental work in Japan. AUSTRALIAN BUTTER Shipments of butter from the Commonwealth to the United. Kingdom for the current financial year to May 12. at 91,176 tons, are oyer 900 tons iti excess of the quantity for the ■ corresponding period of last season. WHEAT AND FLOUR SOVIET BUYS. FROM-AUSTRALIA Two British 7,000-toir vessels are reported to have been - chartered by the Soviet Government to,load in Western Australia and South Australia in June and_July to transport a cargo of Australian flour and one ■of Australian wheat. The announcement (says the ‘ Daily Commercial News,’ of Sydney) does not .indicate necessarily that there hs a shortage of Russian wheat, as the cost of importation to the Far East is frequently less than the cost of irans- i port across Siberia. A cargo of Ar-; gentine wheat has also been purchased By the Soviet. , . It. is reported that the steamer Tymeric, now bound to Tasmania, will load the cargo of flour at a South Australian port about the end of June.

THE SEARCH FOR GOLD k MATAKI RETURN ' The Mataki return for the week : ended June 10 was 38oz for 132 hours' work.—Auckland Press Association. MAHAKIPAWA RETURN 1 The Alahnkipawa return fur the week was sSoz. TALISMAN DUBBO YIELD The Talisman Dubbo Company reports having treated 36 wet tons, equal to 30 dry tons, for an actual realisation of £129. the Goldfields dredge The secretary of the Goldfields Dredging Co. Ltd. reports as follows: ■ Owing to the continued high condition of the river and tho succession of floods, the dredge has not been operating. During this period, however, good work has been carried out by the dredgemaster in extending the whole of the power lines to the Big Beach and in the preparation of tho necessary anchorages for the dredge going through tho gorge. Dredging operations have now been 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 ton weeks. Fortnightly reports will bo published as lo the progress of the dredge in the gorge. RECENTLY LISTED COMPANIES Two gold-mining companies recently listed on the Dunedin Stock Exchange are Worksop Extended ami Mossy Creek Dredging. Both are Christchurch flotations. . . ■ Worksop Extended has an authorised .capital of £16,000 in Is shares, of which 140,000 are paid up and 180,000 form a contributing issue. The Mossy Creek Company has an authorised capital of £15,000 in Is shares, of which 174,000 arc paid up. BELI-KILGOUR MINING • The secretary of the Bell-Kilgour Gold Mining Company Ltd. advises receipt of a report from the manager, dated June 9, rending as follows; No. 3 west north branch • was extended 17ft, on an uneven floor, values were very irregular. No 4 west crosscut was advanced 39ft Gin, with an occasional patch of gold of medium value on the “ floor ” of wash. S.E. block; Took out panel for 10ft. alongside old workings, most of gold saved came from ‘'here;';- No> 7 west cross-cut: Put 'in opening out sets and drove a total distance, of 19ft 6in. “’Floor" rising quickly and fine colours of gold show up from tiie , loner strata of wash. Forty-seven cubic yards 'of wash treated in five days yielded 7oz 17dwt 12gr. NEW ZEALAND APPLES Tress Association—By Telegraph l —Copyright. LONDON, June 11. (Received June 12, at 10.45 a.m.) The Otaio’s New Zealand apples realised: —Granny Smith’s, 10s to 12s ; Jonathans. Cleopatras, and Delicious, 6s, (kl to 9s; Dunns, 6s to 9s; Winter Nells, 11s 6d to 15s; Barry, 10s 9d to 11s; Josephines, 12s 6d to 14s. The Kararaea’s New Zealand apples were withdrawn. • > ■ ' ' ' ■ ' >

MOUNT LYELL ACTIVITIES The following progress report for the fortnight ended May 30, 1934. is issued by the Mount Lyoll Alining and Railway Company Ltd. North Mount Lyell Mine.—Tons ex-' tracted, 6,600. 925 ft level, Footwall drive to 447 ft through hard pyritised quartzite. Lyell Tharsis Aline.—Tons extracted, 151. No. 1 level, south drive to 1,121 ft through ore. Crown Lyell Mine.—Tons extracted, 4,896. N0."6 level, No. 1 Mullock Pass rise to 130 ft through ore, and completed by holing through to winze from the No. 5 level. Royal Tharsis Aline.—Tons extracted, 4.023* No. 1 level, West Lyell drive to 613 ft through pyritised grey schist; borehole No. 1 commencing from west cross-cut, extended to 141 ft through low grade schisty ore which is of payable grade in places; shaft cross-cut to 10ft through pyritised schist. No. 3 level. Transfer Bass drive to 152 ft through mineralised schist and suspended. Lyell Comstock Aline.—Tons extracted, 4,618. No. 4 level, Alullock Pass drive to 453 ft through mineralised schist. No. 7 level, main shaft to 273 ft through mineralised schist. Reduction Works.—The' furnace was in blast during the full period. Four thousand, four hundred and sixty-four tons refined anodes made for current year. Concentrator.—Alill operated 336 hours and treated 19,559 tons ore, producing 1,700 tons concentrates. Copper Refinery.—Tank house in operation throughout period, 484 tons cathode copper being produced during the fortnight; total for current year, 4,776 tons. Office Note.—Refining was suspended on May 31. Alining and milling were suspended at midnight on June 4. lack of rainfall making the power available from tho company’s Lake- Alargaret hydro electric power scheme insufficient (or these purposes. PRICE OF GOLD Pres.? Association—By Telegraph-Copyright. LONDON, June 11. (Received June..l2, at 11 a.m.) F ine gold is quoted at £6 17s 9id per oz. • BRADFORD MARKET Tress Association—By Telegraph—Copyright. LONDON, June 11. (Received June 12. at 10.45 a.m.) The Bradford market is • steadier owing to the stoppage of the Australian sales, but business is restricted. ! . SMITH AMD SMITH LTD. DIVIDEND OH PREFERENCE SHARES The directors of Smith and Smith Ltd. have declared a dividend for the half-year at 5 per cent, per annum, payable on July 31. next,,on the company's preference shares, ;