LONDON SALES.

Press, Volume LXVII, Issue 20415, 9 December 1931, Page 12

LONDON SALES.

PRICES UNCHANGED. GOOD GENERAL COMPETITION. (UNITED FRZS3 ASSOCIATION—BT RLICTBIC T3SLEGBAIH—COFYBISHT.) LONDON, December 7. At the wool sales 10,660 bales were offered, including 3532 from New Zealand, and about 7860 were sold. There was good general competition, though there were some withdrawalsof slipes. Prices, except for" scoured merinos,; were unchanged from last closing rates. The pressent sales close on December 17 th. Top. Averace. d. d." ~ Sew Zealand Scoureds — Glenmore 18 16$ Greasy Merino— Richmond Brook .11 10^ Greasy Halfbred— Macdonald Downs 12i 10£ At Bradford, merinos and fine crossbred tops are steady. Medium crossbreds are slightly easier. PRICE OF NEWSPRINT. REDUCTION IN NORTH AMERICA. (UNITED PRESS ASSOCIATION—BT ILECTEIC TELEGRAPH —COPYRIGHT.) (Received December Bth, 10.48 p.m.) NEW YORK, December 8. The International Paper Company, the Consolidated Paper Corporation of St. Lawrence, and the Corporation of Montreal have advised their customers that they are reducing the price of newsprint in New York and Chicago by 53 dollars a ton, to become effective on January Ist. WHEAT CARGOES. LONDON AND LIVERPOOL. (l-NI'JT.O 11! ESS ASSOCIATION—BT ELECTRIC JELEGBAPH—COPrKIGHT.) LONDON, December 7. Wheat cargoes are 3d to 9d higher, owing to better overseas week-end closing quotations and the further decline in sterling. Buyers are aloof, and parcels are irregular. Australians are steadier, on renewed Orient enquiry. Futures are quoted as follows; London — Per Quarter, s. d. December .. . ~25/10 June .. .. 27 4 Liverpool— Per Cental, s. d December .. 5 5* March .. J . • • !i !)•! May .. .. ' 6 0-J STATE ADVANCES. DECREASED AMOUNTS. A table showing the operations of the State Advances Department during the nine months, ended September 30th, 1930, and 1931, quoted from the Ab- : stractof Statistics, is as follows: — Amounts Advanced. ! 1930. 1931. £' £ ; ; To settlers ... 2;628,050 ' 776,185 To workers 1,624,680 356,560 To. local 'authorities.. . 4,jj00 ■ 1,1)00 ; A marked tight,eniiig-up-of the activities of-ibe'Department .during thp ! ; year 1931 is revealed by the above i table, and this i factor hiis had its reflection in the abnormal quiescence ob-. 1 served in. the building industry during the year. Of the total of 1249 loans authorised dijring the first nine months of 1931, 393 were for the erection of 'dwellings for an aggregate amount ot' £250,485. and an .ayerago . advance of; £637. The corresponding figures for 1930 were : Loans. 2241; total, amount,' £1,7.41.570; average ad viance, £777., Thus decreases of 82.5 per -cent., 85.6. per cent., and 18.1 per- cent, were recorded for the respective items. i X. : .' MINING. \ BLACKWATER MINES, LTD. The return for November is as under:— Crushed 3630 tons, yielding 1688 fine ounces gold, valued at £7167 standard. Working expenses £5372. In addition tho Wrnace treated 03 tons concentrates or » return of 129 fine ounces gold, valued at £54'J Standard, working expenses £123. Working nvnflt £2221. Development expenditure •■529. Capital expenditure £213. Profit over all £1479, with gold at standard value. MOUNT ISA MINES. The directors of Mount Isa Mines, Ltd., in thoir annual report, state that unavoidable delay in beginning production has entailed extra finannce, and that until the pla, t attains full capacity the American Smelting and Refining Company has undertaken to provide for further requirementi by loiins on easy terms up to a total of £2OO,OUU. ine American Smelting and Refining Company lids agreed to accept entire responsibility lor the company's technical management. MiHin, was not begun until last May, mainly . causo of the heavy influx of water in preparing the mine for production. The plant is now producing about 3300 tons of lead-si - ver bullion monthly, which -will be increased gradually to 6000 tons a month, the full output capacity. Expenses for the year ended June 30th were £573,733, including £408,961 spent on prospecting and development, and £138,772 interest on debentures. Metal produced realised £41,644. A debit of £532,027 in the profit and loss account is transferred to the prospecting and development account, making that item in the balance-shee. £1,19G,098. ELECTROLYTIC ZINC. The following production statement lias been issued by the Electrolytic Zinc Company, Ltd: — Four weeks Four weeks ended ended Oct. 21st, Nov. 18th, 1931. 1931. Zinc, tons . . 4,101 4,128 Of which used at the works 60 60 Silver lend product for shipment to Port Pirie for realisation— Lead, tons . . 275 190 Silver, ounces . . 35.500 25,000 » COMMERCIAL REPORT. The banners' Saleyards, St. Asaph street, report the following transactions at tho weekly sale laßt Friday:—Chestnut'mare £l3 10s, bay mare £ll 5s, 'bay gelding £7, bay ■ gelding £5, bay mare £5, garden plough £2 6s, spring dray £3, set harness £2, damaged' wheat 10s to 17s sack. Private sales included the following:—Garden plough £2, d.f. plough £B, r.t. gig £4. saddle and breeching £2 17s 6d, do. £2 15s, do, £2 17s 6d, dr. collar £1 2s 6d, set harrows £3, cultit vator £7. j