COMMERCIAL.

Press, Volume LXVII, Issue 20420, 15 December 1931, Page 14

COMMERCIAL.

(CONTINUED.) TRADE WITH CANADA. FORTHCOMING NEGOTIATIONS. [THE PBEBS Special Ssrvio*.] AUCKLAND, December U. The Minister for Customs, the Hon. W. Downie Stewart, who will leave by tho Niagara to-morrow for Honolulu, where he will enter into trade negotiations with the Canadian Minister for Trade and Commerce, th'e Hon. -H. H. Stevens, reached Auckland to-day. He spent a busy day conferring with, merchants and representatives of organisations interested in New Zealand's trade with Canada. The tentative Canadian proposals for a new trade agreement which were cabled to New Zealand on Saturday were referred to tlie Minister. He declined to make any comment, on the ground that it would be hardly right for him to discuss questions which might , subsequently be employed as the basis of his negotiations with the representative of the Canadian Government. Suggestions that there should he an immediate triice in regard to trade with Canada, so that New Zealang could get back to the position that obtained before the recent increases in Customs duties were effected, were made to the Minister. A hope was expressed that J at least New Zealand would be placed ' on the same footing as Australia. Representatives of the Auckland Chamber of Commerce said that local butter exporters were satisfied that if New Zealand butter entered Canada on the same terms as Australian butter a useful trade could be developed, and New Zealand butter would be able to compete successfully with the Australian product! Formerly there had been a valuable trade in frozen lamb with Canada, "but this had fallen away. It could, however, be developfid if the Canadian duty on New Zealand lamb were fixed at the same favourable rate as that enjoyed by Australia. Another -point cliscussed was the rate of exchange, and the Minister was asked to make an effort to secure some stabilisation. It was suggested that the basis of conversion for duty pur-poses-should be par. ' The Minister assured the deputations that lie would giv.e careful consideration to the points raised. MINING. 'OKAIIITO DKEDGING COMPANY. (PRES3 iSSOCIVI'IOK TELEGRAM.) DUNEDIN, December 34, The secretary of the Okarito Five Mile Beach Gold Dredging Company reports that tho wash-up for the week ended December 12th returned 360s 9dwt of gold for 128 hours' dredging. GOLDEN TERRACE COMPANY. (P8.E83 ASSOCIATION TXLKQaiU.I • INVERCARGILL, December 14. The Golden Terrace Extended,Go!d Dredging Company a wash-up of 48oz j'or 150 hourc' dredging. This and the last two rjturn§ show an average of 490z 14dwt per week. GOLDEN PROGRESS REPORT. .The secretary of the Golden Progress Quartz Mining Company, Ltd., . reports that tho erection of the YVilfley table w;.s completed on November 25th, end crushing was recommenced on tho following day, Irpm which date, the battery has befen "working continuously for 12 hours per day. A small quantity of very rich ore is showing in a stope on the IS Oft level.

BELL HILL GOLD SUICING CO. The first annual report and balance-sheet of the Bell Hill Gold Sluicing Company, for; the year ended November" 30th last, has been issued to shareholders. The report states:— 1 After making a careful and conservative estimate of tlie expenditure which must still be incurred before sluicing operations commence, your directors are pleased to state that in their opinion the balance of the capital available for development purposes will be sufficient to complete the work. Prom the commencement of the development operations to the present' time,; this construction work has consisted in • renewing 'the water course from George's Creek to tho high pressure storm-water dam, restoring the condition of this dam, and the installation of a hydro electric plant and sawmill. The tunnel tail-race of 654 ft has also been put m good order, and when blocked will be ready for use. _ The low pressure race which carries the main body of water is now completed, as regards the understructure, to Devil s Gully, and the acqueduct across the gully is now m the of construction. On the line of this race there are seven tunnels, t.ome of which are ready for use. and it is estimated that the remainder will be completed at, an «arly date. ■ Your directors also have carefully considered the question of construction .of the main dam, and plans and specifications have now been prepared for this work and tenders are ' c *? led P ttt the work in hand forthwith. Since the company commenced its development work the Mines Department have exhaustive examination of tire e P' oS Pects generally, with Mines' r ® E^ lts - The report of the MI ? e ? Department inspector shows that at bottomL«£F p p ro 90ft from the bottom he obtained 43.3 grains per yard, 7>l loh ,' 8 equivalent to 7s 2d per yard at It /.fifim 0 • - go lu' ®on«trnctional work at the claim is in the hands 6f Mr B. C. Bell, who was for nine years manager of the Hohuna "claim near K^mara. capital at '£l2°ooo, B of which 8 .£8983* has £IOO lit , i- r s pre ? ent £ 552, and 10s ' th< ? total habihttes biing £8454 f°ooo assets are: Mining. rights development accoubt £4457 and preliminary expenses £925