Business Gossip

Sun (Auckland), Volume 1, Issue 104, 23 July 1927, Page 12

Business Gossip

Demand for Sheepskins. —The Home and Continental demand for sheepskins is good. Best full wool, fine Crossbred and Merino, 5 per cent, higher, as compared with the closing rates of last sales, others without any material change, except pelts, which are slightly lower. London Produce Values.—Under date July 21, the London office of Dalgety and Company cable as follows: Butter, the market is slow: New Zealand, finest salted, 158 s to 160 s; Banish, 158 s to 160 s; Australian finest, unsalted, 1645; Australian, finest salted, 158 s to 160 s. Cheese, the market is firm: New Zealand white, 88s to 90s: New Zealand coloured, 88s to 90s; Canadian c.i.f., 89s. Butter and cheese prices are difficult to maintain. Low-grade Development.—An interesting mining development in the Waihi-Tairua district is the proposal of the Hauraki- Alaska Gold Mining Coy.. Ltd , to commence at Neavesville, the quarrying of a large area of low-grade country. This auriferous belt has been known to exist for years, and it looks as though the prophecy of Dr. Macintosh Bell, the eminent. mining geologist, who surveyed this district for the Government in 1911. is likely to be fulfilled. In his report in the “Geological Bulletin” Dr. Bell suggested possibilities in connection with this mining tract which is I row arousing attention. It is intended to ultimately work the ore on North American low-grade lines.

SOUTHERN EXCHANGES YESTERDAY’S SALES Press Association. WELLINGTON, Friday. The following sales were' made on the Stock Exchange to-day:—Staples and Co., 31s 4d; New Zealand Breweries, bonds, 23s 9d; Bank of New South Wales, £45 ss; Union Bank, £ls 11s 6d; New Zealand Guarantee Corp. (ord.), 9s 2d; Wilsons Cement, 34s 3d. CHRISTCHURCH, Friday The following sales took place on the Stock Exchange to-day:—Bank of New South Wales, £45 ss, £45 9s, £45 4s; Goldsbrough Mort, rights, 8s 9d; British Tobacco, 52s 9d; Huddart Parker, 47s 9d; New Zealand Guarantee Corporation, 9s.

FROZEN MEAT VALUES

LONDON QUOTATIONS Under date July 21 the London office of Dalgety and Co., Ltd., advise the! following resume of London frozen meat j values: — Prime New Zealand Lamb. —Canterbury. 281 b to 361 b, 9d a lb; North Island, 281 b to 361 b, 8?,d; Canterbury, 361 b to 421 b, Sid; North Island, 361 b to 421 b, 8d; Canterbury, second quality, S4d; North Island, second quality, S£d; Canterbury, 421 b to 501 b, Sd; North Island, 421 b to 501 b, 73d. The market for New Zealand lamb is weak. The demand runs principally on poorer qualities. New Zealand Mutton.—Canterbury, 481 b to 561 b, 6d a lb; North Island, 4Slb to 561 b, s§d; Canterbury, 561 b to 641 b, 3d; North Island 561 b to 641 b, 43d; Canterbury, 641 b to 721 b, 4£d; North Island, 641 b to 721 b, 4d; Canterbury ewes, 481 b to 641 b, 4d: North Island ewes, 4Slb to 641 b, 4d. The market for New Zealand mutton is weak. The demand is quiet. Beef.—Argentine chilled hinds, 6ld a lb: fores, 3d. Pork.—New Zealand baconers, 1201 b to 1701 b, 6fd a lb; 1701 b and over, 6d. Baconers nominal MINING NEWS LUCKY SHOT.—The manager reports: “The drive north-east on No. 1 reef has been extended a distance of 6ft. for the week. The reef in the face has pinched down to about 2ft. 6in. The quartz broken out is heavily mineralised. No. 1 reef has been risen a distance of 6ft. for the week. It still maintains its width and shows gold freely when broken down.” GOLDEN AGE.—The managex - reports: “The drive on footwall of the main reef has been advanced a distance of 4ft. for the week, making a total distance of 73ft. There is no change in this face since my last report. The cross-cut in footwall has been advanced 2ft. The country is still very hai'd. We met with another leader on the 18th. showing gold.” MOUNT WELCOME.—The manager repoi'ts:—Prospects arising from pushing on No. 3 level are very encouraging at present. We have picked up the formation much larger and the general indications of the whole face leads us to anticipate meeting with quartz any shift. The flow of water is increasing, but owing to weather conditions, the exact amount of drainage from No. 2 level cannot be irauged to date. There is not any doubt that our present work will enable us to deal with some of the known runs of gold in No. 2 level when the fine weather sets in. LONDON BUTTER MARKET By Cable.—Press Association.—Copyright LONDON, Thursday. Butter is slightly easier on the London market owing to heavy European supplies. Otherwise there is no change. Australian and New Zealand are quoted at 156 s to 158 s and exceptionally good lots are making 160 s. Cheese is firmer. New Zealand, 88s to 90s; Australian, S4s to 85s.—A. and N.Z.