UP AT LAST. OVERSEAS MARKETS. "PLUCK AND DETERMINATION." MINING NEWS.

Auckland Star, Volume LXIV, Issue 83, 8 April 1933, Page 4

UP AT LAST.

OVERSEAS MARKETS.

"PLUCK AND DETERMINATION."

MINING NEWS.

THE PRICE OF GOLD. (Received 10 a.m.) LONDON, April 7. Gold is quoted at £6 1/ per ounce. QUOTATIONS FOR METALS. ALL ROUND ADVANCES. LONDON, April 6. Following are to-day's quotations on the London metal market compared with those of April s:— April 6. April 5. Per ton. Per ton. £ s. a. £ s. d. Copper, stnn.. spot 29 1 3 28 6 3 Copper, stan., 3 months 29 fi 10J 28 10 7J *Coppcr, electro. . 32 15 0 32 0 0 to to 33 0 0 32 5 0 Copper, elec, wire bars 33 0 0 32 5 0 Lead, soft, spot .. 10 10 0 10 6 3 Lead, soft, forward 10 3 7 6 3 0 12 6 Spelter, spot 14 15 0 14 8 9 Snelter, forward . 15 2 0 14 16 3 Tin, stnn., spot .. J. r >3 lfi 3 153 11 3 Tin, stan., 3 mos. 154 13 9 154 10 0 •American 5.12 cents a lb, compared with u cents on April 5. CHICAGO WHEAT VALUES. (Received 1.30 p.m.) MONTREAL, April 7. Quotations for Chicago wheat for May delivery are 57% cents; July delivery, 58% cents; September delivery, 59% cents. New York quotations for cash are 67% cents.

PRICES OF POTATOES.

PUKEKOHE BENEFITS.

After a long spell at unusually low levels potato prices in the Auckland Province have shown a sharp rise. Pukekohe merchants, who have been offering at 2/6 per cwt in recent months, are now quoting £4 10/ per ton for Monday's delivery. The advance is probably connected with the report that potato importations into Australia are likely to be permitted. In such event Canterbury growers might be able to dispose of their surplus overseas and the Dominion market would harden as a consequence.

Pukekohe dealers are also offering autumn grown seed potatoes for present delivery. Onions are still selling at the low level of 4/6 per cwt on trucks. NAPIER WOOL SALE. LATE VALUES HOLD. (By Telegraph;— Press Association.) NAPIER, this day. Prices generally on a par with those ruling at the recent Wellington and Wanganui sales were obtained at the final Napier wool sale held to-night. A fairly full bench of buyers operated, mostly for English and Continental firms. A total of 5062 bales was offered. Generally speaking, the wool was of a better standard than is usually to be expected at the final sale of the season, and lower grade wool sold exceptionally well, especially in view of the fact that it was fairly poor quality from the back country. Finer wools realised slightly lower prices than those ruling at the Wellington sale, owing to being a shade: too deep. The highest price obtained was 9%d a pound for a line of super halfbred. Bidding throughout was brisk for all qualities, and the clearance was satisfactory. Compared with the March sale at Napier, brokers report that prices for medium and coarse crossbred were V*d to %d better; inferior, %d to %d better; pieces and bellies, about par. Hogget wool was keenly competed for at advances of up to Id. The official range of prices was: —Southdown, super, 8d to 9%d; average, 6%d to 7%d; inferior, nil. Medium halfbred, 50-56's super, up to 9%d; average, 7d to B%d; inferior, nil. Extra fine crossbred. 48-50's super, up to 7%d; average, 5%d to 6%d; inferior, 4d to sd; fine crossbred, 46-48's super, nil: average; 4'/id to 5%d; inferior, 3d to 4d; medium crossbred, 44-46's super, nil; average, 4d to sd; inferior, 2d to 2%d; low crossbred, 36-40's super, nil; average, up to 3%d; inferior, nil. Hoggets, 48-50's. 414 dto 8d; 46-48's, 4d to 7%d; 44-46's, 3%d to 6%d; 40-44's, nil; 36-40's, nil. Lambs, 46-50's. 5%d to 7d; 40-46"s 4d to 6V&d; seedy and inferior, l%d to 4%d; necks, 3*/4 d to SJ/4d;5 J /4d; pieces, good to super, 3%d to 4%d: low to medium, 2d to 3%d; seedy and inferior, Id to 2d. Bellies, good to super, 3%d to 4d; low to medium. 2d to 3d; seedy and inferior, %d to l%d; locks, crossbred, Id to 2d; crutchings, good to suner, 3d to 3%d; low to medium, 2d to 2%d; seedy and inferior, %d to lVid.

A cablegram received from the manager of the National Mortgage Company and read at the annual meeting of the company in London, was as follows:—"Season very favourable throughout Dominion. Wool prices rather better than last year. Stock prices about same. Grain prices lower, but yield will be much heavier. Quality mutton, lamb better. Company has maintained volume business, but lower prices affected profits. Our farmer clients great majority exhibiting pluck and determination undergoing considerable hardship in endeavour to carry on.''

MONOWAI COMPANY. The following report has been received from the company:—Monowai Section: No. 4 level—Stoping on the hangingwall portion of the main reef is taking place, covering a width of from ten to twelve feet, the whole of which is payable ore. Some high-grade ore is showing in one vein at this point. Zeehan Section: No. 3 level—Stopes are being carried along on the northern extension of Zeehun reel' north and south of No 3 rise in good ore. Average width, 3ft. A stope is being carried on the Montana reef on oft of milling ore. Intermediate level Southern extension Zeehan reef, stopes are being carried along for a width of 2ft 6in on high-grade ore. No. 2 level—A trial crushing is being broken from Montana reef for a width of 12ft. Owing to an accident to machinery the mill was stopped from March 29 to April 3. Everything is now running satisfactorily. A later report under date AdHI B to the manager reports that a new development has occurred at No. 4 level, Monowai section, where a rich vein of ore has been encountered In side-stripping in the western portion of the reer. MINE MANAGERS' REPORTS. Talisman Duhbo.—Report for week ending April 1 : The drive at No. 1 Talisman has been extended Sft for the week. The reef is Sft Bin wide: 20in of the hanging wall portion is of fair value, the remainder being rubbly quartz of low value. Three sets of timber have been placed.

Golconda.—During the week the following work has been carried out: — Hangingwail dropper: We have continued sinking the winze, and the dropper still carries gold in every hole tired out. It should junction with the reef in about another 3ft of sinking, when we will then be able to open out on the dropper and the reef, where good values should be met with. Footwall dropper: We have connected up the air pipes and driven out the gas that was encountered when we blew through to the intermediate level. it is now apparent that the reef worked in the north end of the intermediate level is still in the wall of the dropper. Next week we will commence driving from the bottom of both winzes to connect for air and try aid determine which is the main body of ore. I