COMMERCE AND MINING

New Zealand Times, Volume XLVI, Issue 10616, 15 June 1920, Page 10

COMMERCE AND MINING

WELLINGTON STOCK EXCHANGE. YESTERDAY'S QUOTATIONS.

MOUNT LYELL MIXING COMPANY. Tho following is the progress report for the fortnight ended June 2nd:—Mount Lyall Mine-: No. 5 level. No. 5 mullock pass drive to 7ft in schist; No. 8 level, cutting of engine chamber of engine winze in progress; No- 0 level, engine cinze to 98ft through schist and pyrites. North Mount Lyell Mine: 850 ft level, north drive is liC3ft through quartzitic schist; 925 ft level. No. 2, north' drive, to Cs3ft through hard qua rtzite. Reduction works: One furnace in tlast during fortnight; 3015 tons of blister copper consigned to the refinery for the current year. DEVONPORT FERRY CO In moving tho adoption of the report *nd balance-sheet of the above company the chairman of directors (the Hon. E. VV. Alison) congratulated shareholders on the operations of the company having proved more successful than the previous year, which was, without, exception, tho most unprofitable and unsatisfactory since the initiation of the company. After making allowances for depreciation, anl placing iCl5Od to the credit of the accidont insurance fund, tho boilo. - renewal and Bteamer insurance accounts, there was a profit for the year 0f..£5198 13s lid. adding th« small amount of .'■lo4. 9s 5d brought forward from last year's accounts, making a total of .£5303 3s 4d. This sum the directors recommended to be disposed of as follows: —By the payment for the year of a dividend at the rate of 7J per cent., which would absorb £4690 17s 6d, leaving the sum of .£612 Ss 10d to b» carried forward to next year's profit and loss account. LONDON WOOL SAXES. New. Zealand Loan' and Mercantile Agency Go., Ltd., have received the fob* lowing cablegram from their London house under date June 11th, 1920:—"London wool sales closed. As compared with last sales' closing rates prices for the following descriptions are lower:—Merino "25. per cent. Fine, and medium scoured and slipe crossbred by about 15 per ■Fine crossbred 15 per cent. Medium crossbred 7J per cent. Coarse crossbred was withdrawn—nominally 10 per cent, tower." LONDON WOOL MARKET ■ DECLINE IN PRICES. Messrs Murray, Roberts and Co.,' Ltd., flave received the following cablegram from their London agents, Messrs Sanderson, Hurray and Co.. Tinder date June 11th .-—Sales have closed. Compared witJi last closing rates crossbred fine declined 35 per cent., crossbred medium decline' 6 per cent, to 10 per cent.; coarse crossbred declined 10 per cent. Very little coarse crossbred sold. Messrs Dalgety and Co.. Ltd., "Wellington, report having received the following cablegram-from their London office, under date June 11th: —Wool sales continued weak as compared with last wool sales' closing rates. On the average merino wools were 25 per cent, lower, crossbred wools fine quality 15 per cent. lower, crossbred wools medium quality 6 per cent, to 10 per cent, lower, crossbred wools coarse are unsaleable and nominally 10 per cent, lower; slipe wools, fine crossbred, are 15 per cent, lower, and ■lipe wools, coarse crossbred, were all withdrawn; 92,000 bales wero offered, of which over 45 per cent, were withdrawn. Nest public wool sales will be held on July 6th to July 16th, when the probable quantity to be offered will amount to about 90,000 balei. WAIHI G.M. COMPANY THE ANNUAL REPORT. FUND TO EQUALISE DIVIDENDS. A summary, of tho annual report and alance-sheet of the Waihi Gold Mining Company. Ltd., has been received by cablegram. The carry forward of .£52,953 for 1918, and the surplus from the year's operations during 1919, have enabled tb» directors to "pay tho bame dividend as for joiuo j-ears past, viz., .£99,181, and" in:rjme tax has absorbed J&47,8C0, a total of «iy, The directors propose to provide for depreciation of the company's mining assets, -615,000; a'fund to equalise dividanuß in future, JE50.000; leaving to be carried forward to the new account, i 29.000., The report states that the ore reserves, A-S'give'n at December 31st by the superintendent, show a reduction of 159,932 tons during 1019, and the grade of tho remaining ore reserves has decreoser! i>y 5s 6d a ton. with further fall in g-off in the average value to be expected'as the development of a lower ( grade of ore proceeds during tho current year. Further, owing to the increased cost of wages and material, it is estimated that cost of production of bullion mill be about 5i a ton higher during 1920. and that as a result large quantities of ore previously wnsulered payable are. now unpayable at pre-war prices. The ore crushed for th* four, periods of 1920 amounted to 42,837 ton* for a return of approximately Jiuo.eoo. The directors hope to ship from England at the end of this month the pumping riant, which has been greatly delayed by English labour troubles. WHOLESALE PRODUCE PRICES. Laerv and Co., Ltd., Allen street, report wholesale prices as follow :—Feed fifiTlpy. 9s par biiol'.fl, <--ncks. in; feed peas. 10s bushel, sacks extra: Prussian blun ne»s, hU r>?r bushel, •cicV* extn-; oats, feed, Algerians, 6s per bushel, sacks

in; oats, feed Gardens, good 6s 7d per bushel, sacks in; oate, A grade Gartons, 6s 9d per bushel, B grade Gartons 6s 8d per bushel, tacks in; chaff, oaten sheaf, good bright, .£l3 10s j per ton, 6acks in, .£l2 10s sacks returned [ free on trucks or f.o.b. Wellington; farro food. los per ton; flour, in (sacks, .£l9 los per ton; oatmeal, ! 25's, .£36 to .£39 per ton; hay clqver, £lO 10s per ton; lucerne, ill 10s per ton; potatoes, table (Canterbury), I white £8 to .£8 'ss, Red Dakota* £8 5s to .£8 10s ton, sacks included; seed potatoes, Up-to-Dates, .£9 l(te per ton; onions fT'intarbury. choice 13s .per cwt; fowls, hens 7s to 9s pair, choice young roosters 7s to lis pair; ducks. .Runners, 10s ti> 10s 6d pair, white ducks 10a 6d to 13s pair; gee«e, 15s pair; turkeys. Is 6d to la 7d per lb, dead weights butter, farmer.' separator, milled or dairy, in bulk or lb pats Is 5d to Is 51d lb; eggs, fresh crates 3s Bd to 3s Od doz., preserved 2s 8d to 2s 19d per doz; dressed pork, choice 70" sto 90's lOd, 100's to 110's, 9d to 9Jd, choppers stl to 7d per lb; cheese, factory medium, case lots, lljd; loaf cheese, Is Id lb; oyster shell grit, £f 15s; mangolds, 42s 6d per ton. Wellington Customs. The Customs revenue received a"; Wellington yesterday totalled JE7119 15s 9d. j -

Buyer ». Sullei ra. JB 1. d. £ 8. d. Alining— — 0 2 2 2 1 0 — 0 11 i War Loans— Inscribed Stock (1338) 96 7 6 ~ War BoihIs (l'JM) .. 96 7 G lnvest'intnti— 6 11 0 6 11 0 0 6 Bk. iN T (»W issue) 25. 2 6 25 9 Bk. N.2. (now iss uo) 23 10 0 25 IT Abraham & WiUia ms 5 11 0 — Golclsbrough Atort. — 2 11 0 Wu. In vestment 0 10 8 -*"• Wu. Trust and Loan 6 7 6 —■ Btb. Krit. Induranci £... 10 0 0 — 1 IS 0 — Wn. Heat Export ■ — 6 17 6 Wn Meat Export (-£3 X2s 6il; — 4 U 0 Huddart-I'arker (oi Z) 2 13 0 2 14 0 P and O. Del". Stc )Ck — 49J 0 0 Kaiapoi Woollen .. 10 1 0 — Westport Coal — — 1 12 0 W-eist port-Stock ton (pref.) 0 10 11 — 0 1" 0 Loyland-O'Brien — 1 12 6 D.I.C. <40s pd.) 0 16 0 — Gates, Ltd 1 2 6 —■ N'.Z. Paper Hills .. 1 1-t a — "Wairarapa Farmers' , .(JB3) -»• v; 6 6 0 - \\ airaxapa Farmers • (preif.) " : 1 0 0 — Ward and Co "*»• — 1 i 6 1 1 6 — Wilson's Cement .. 0 15 6 0 16 0