Business Gossip

Sun (Auckland), Volume I, Issue 125, 17 August 1927, Page 2

Business Gossip

Auckland Tallow Values—mllrnv at yesterdays aS*!.' skm, and tallow sale ivm * l * on a par with those ruling at uS*** Good mixed tallow in barrel. -os to 2os bd a cwt; in tins <to<s ,?*• 23s lid: inferior, 16s to 21s ma ' c Murchison Oil Company.—Th. report from the Murchison Oil r puny’s bore read as follows- iw?*’ hole. 2.925 feet, in fine sand pact structure, with bands of Ss' stone and sandstone; drilling w" rarily suspended owing to sicltn,« . drilling staff. Home Fruit Markets The New z. land Fruit Export Control Board m vises having received the foUoew cablegram from Colonel C. Gray tS board’s representative in London"'' "The Corinthic’s shipment generar was very good; some waste in Stated man and Washington varieties; Prwi are: Sturmer and Statesman, fc . 25s a case; Rokeyvood, Dougherty fir larat, 20s to 245. The market is Ukito ease owing to local supplies. Souti ampton: Store cleared. Prices; Stupors, ISs to 21s; Statesman, 19s tn Rome. 18s. A Year of Industrial Deprenion"The year under review has been cof industrial depression," stated ifc. Hon. Pember Reeves, the chairmaar the annual meeting of the NationBank of New Zealand held in Lonfa recently. Although the value of I®. ports had been reduced by £s,oW** during the year, there was still at adverse trade balance of £2.500 oo< and the effect of that and of depressed business generally was show; in the returns of the New Zealot: banks of issue for the March quar.ethis year, which disclosed a decreas in deposits of £1,773.000 and an it. crease in advances of £2,517,000, resuiting in a decrease of baiia, resources of £4,290,000. It was no; to be wondered at, therefore, that, ss a matter of financial necessity, tie banks had had to insist upon a further reduction of imports, and also lo restrict advances. MINING NEWS KURANUI.—The manager reports for week ending August 13: The rise og Hunt’s reef has been advanced S feet for the week, making a total of 34 feet froc the batetry level. The reef has been a bit small for the last few feet, but still looks very promising for making goki The drive on leader near Shotover sha:; has been driven o feet for the week, making a total of 36 feet from the crosscut Have stopped this drive and started tw men cleaning out crosscut past the sha:. so as we can start driving seaward o: Oddfellows reef.

AL.BURNIA. —The manager reports i follows: “The western crosscut has bee advanced from 281 feet to 296 feet Th‘ country passed through is still of a hart character and much the same in appeara nee as that reported last week. W t passed through a leader some 2 indw in width which showed a .splendid d* of mineral. I may mention that there s a little more water oozing from the bead* than at any previous time. S toping oft: the intermediate level has been in base and the prospects here are better thir for a few weeks past. The reef isitt* coming near to its original size, it no* being an average width of 3 feet, ud nice colours and blotches of strong have been seen in some of the ore broken The reef appears to he gradually comfof to its natural underlie and as it is encased in a good class of country rock a* showing more mineral seams than has of late .we are looking forward » good results.’’ POTATO MARKET UNSTEADY OATS LIFELESS Prase Association. CHRISTCHURCH, Tuesday The potato market is extraordinarily unsteady. This morning the tone wa* decidedly firm, this afternoon tfte jj* verse. The cause of these sudden fluctuations is not very obvious, except that last week’s revised Governm®* figures implied a short crop, but sin* then a doubt has developed as whether the latest figures provide ** accurate statement of the The heavy supplies that have Ijotf north have kept Auckland off the MCfc market, merchants there preferring, buy ex wharf from consignments. sales have been made at £ 5 7s 6a for September, but Augusts have from £5 to £4 17s 6d. The tui, which left for the North 7 . day, took 2,900 sacks, and the | leaves at the end of the week. to farmers ore £3 15s on f Fowl wheat is quoted at 6s aa for August and 6s 6d for Sept Milling is nominally at the figure, or about 6s 2d on trucks, is very little offering. v-* Oats are lifeless. B Garton been sold at 2s lid f.0.b., an jj 3s 2d. The export to Australia » small bulk. TRADE OF AMERICA •ly Cable. Press Association —Calf** WASHINGTON. Mon<ia^ l . The Department of Commerct nounces that for the fiscal ) tb* ing June 30 the exports « 4 United States were £997,200,000, which was tingreater than in 1926. The was*- 1 ports was £850,600,000, vG per cent, less than in ■. the ey The imports of gold exceed** ports in value by £29,60 . p*£ total net gold imports 1 six years were valued at an; During the fiscal yenr. * nn ggo derwriters floated were of foreign securities. The - American foreign in ves *®2 kinds to the value of J