Business Gossip

Sun (Auckland), Volume 1, Issue 99, 18 July 1927, Page 2

Business Gossip

A recent issue of the “Mercantile Gazette” announces the. formation of another oilfields exploitation company Details are: Blenheim Oil Reclamation Co.. Ltd., New Plymouthcapital, £5,000, in 5,000 shares of i;i each; subscribers. New Plymouth—J McNeill 50, AV. H. Jones 50, H. Williamson 50, AV. F. Short 50. A. F. Sandford 50, AV. P. Martin 50, J. Finlav 50. Objects: To carry on the business of oil producers, etc., to take over existing oil wells, and general. Kauri Gum Prospects.—Trade in kauri gum has shown little activity during the week and no grade is specially sought after. London reports indicate most buyers there to be stocked up for at least six months ahead and prices under such circumstances can be expected to fall even lower. In fact, this week’s offers from Home are in line with this forecast. It is understood -that there will be iy» further New York loadings until early in August. Sellers here are hoping for big things from the new company recently established in the North, which, operating on a German patent, aims to extract the gum from the kauri timber found in the swamps. Increased Meat Export Figures.— With the exception of beef, all sections of New Zealand’s export figures for the 1926-27 season show an increase over the previous season, according to a return made by the New Zealand Meat Producers’ Board. The total of 5,337,854 carcases ol! lamb was 382,611 more than last year, while the wether and ewe figures registered an advance of about 120,000. The port figures show an advance of more than 50 per cent. Foreign markets, including Havre, Port Said. New York and Vancouver, absorbed a considerable quantity of beef, Genoa, on the other hand, which promised a little more than a year ago to prove a good market, failed to take even one ship load. The English market took the greatest portion of the mutton and lamb exports. Details of the season’s killing figures are: 1926-27. 1925-26. Beef 162,006 215.856 Alutton— Wether .. .. 1,291.999 3,191,062 T Bvve 798,079 774,108 Lamb 5,337,864 4,955,243 P< £ k Y •• 75,472 49,699 Boneless beef .. .. 207,338 199 034 Sundries 51,974 lll|7M MINING NEWS fv. OA N ATAI A Rl.—Following is the mine report for tlie week ending July 16: No. 1 winze, on reef, has been sunk five feet, a total of 25 feet. The reef here averages 3ft wide and is a strong body of stone-carrying mineral, blend and silica. Colours and dabs of gold have been seen right to the bottom of the winze. I have started to carry a stope from No. 1 winze to No. 2 winze. The reef here averages 3ft wide, and looks very wel. Dabs of gold were seen in the stone. J have had two men employed cleaning out and repairing the Inverness crosscut, and have repairs, level, etc., for 60 feefi a total of 360 feet from mail iFIEU) VALUES OFFICIAL QUOTATIONS Under date July 15 the New Zealand ATeat Producers’ Board have received the following cablegram regarding Smithfield delivered prices:New Zealand Wethers and Maidens. — Canterbury quality, selected brands, 561 b and under. 6d per ib; 571 b to 641 b. m . 651 b to 721 b, 4UI; other brands, 561 b and under, ssd; 571 b to 611 b, 4|d. 651 b to f2lb, 1 3-Bd. New Zealand Ewes. —S4lb and under, 1 l-Bd. New Zealand Lambs.—-Canterbury quality, 36ib and under, 91d; 371 b to 421 b, 8 l-8d: 431 b to sl>lb, Sd; seconds, S|d; selected brands, 361 b and under, 9d; 371 b to 421 b, S 1-Sd; other brands, first qiisfitv, 361 b and under. B£d; 371 b to 481 b, 73d: second quality, 36-32 average, B|d. Argentine Lambs.—First quality, 3IH> and under, Sd; 371 b to 421 b, 7 l-Bd. I Argentine Chilled Beef.—-Ox, fores 8 3-Bd, hinds 6sd Argentine Frozen Beef. —Ox fores 3|d, hinds fid. Frozen Pork.—Bolb to 1201 b, SU; 12(db to 1801 b, 7d!. Bamb.—There is a slightly better del mand, with fair consumption. Mutton.—The market is quiet; demand is slow. ; Frozen Beef.—Fair demand, with stocks j light.