Business Gossip

Sun (Auckland), Volume 1, Issue 68, 11 June 1927, Page 16

Business Gossip

New Company Registered.—Yesterday one new private company was registered in Auckland. Details are: Northern Waikato Newspapers, Ltd. Objects: To acquire the business of the Franklin Argus, Pukekohe, etc. Capital: £2,000, in £1 shares. Subscribers: A. Medland, S. W. Turley and W. A. Smeed, 20 shares each; P. G. R. Taylor and L. W. Reals, 15 shares each; R. G. Giles and P. A. Hillary, 10 shares each.

Kawarau Dam Closes on Tuesday.-—-The Kawarau River is low and dropping daily, according to a private message received in Auckland yesterday from Mr. A. C. Hanlon, chairman of the Kawarau G.M. Coy. The message states that there are five mining companies in the Cromwell clamouring to commence operations, and that they maintain that the river will fall much lower than last year on account of continuous frosts. The dam will be closed on Tuesday, and prospects for the winter are considered good.

W 00l Oddment Sale.—Keen competition, reports Dalgety and Co., was met with at an oddment sale conducted by that firm during the week. About 80 bales and 150 sacks and dumps were offered. Following is a range of prices: Corriedale, up to 15£d; crossbred, medium, 10Ad to 12d; coarse, lOd to lid; crossbred, seedy, 7Ad to Bid; bellies, 6d to 8d; crutchings, best, to 9d; medium, 7£d to Sd: seconds, 6d to 7d; seedy, 6d to 7£d; locks, 4£d. This is the last wool sale of the statistical year, bringing our total sales for the season to 15,875 bales. The next wool sale will be held on August 2.

MINING NEWS

HAURAKI.—The manager reported yesterday: Owing to trouble with the bailing tanks and a hot bearing, along with heavy rain, the water which had been lowered to 50ft. below the 300 ft. level rose to Sft. below, flooding the Cameron pump which, however, continued to work steadily with over 30ft. of water on the exhaust. This morning the water has been lowered to 20ft. below the 300 and the machinery is again running smoothly.

GOLDEN AGE.—The manager reports: The drive on the footwall has been advanced sft. for the week and shows gold freely in several of the small leaders. We have only worked three days in the face this week on account of the easterlv weather causing the gases to form and the men could not get into the face. LUCKY SHOT.—The drive north-east on the main reef has been advanced Sft. for the week. The reef in the face is about 2ft. in width, and shows colours of gold when broken down. We fired a shot into the hanging wall, which exposed several small leaders. They are heavily mineralised and show a little gold. We have been shooting out to make room for timber on No. 2 reef. Timbering is necessary on account of the country getting heavy.