VENTURES IN FIJI.

Press, Volume LXIX, Issue 20904, 11 July 1933, Page 11

VENTURES IN FIJI.

SATISFACTORY RESULTS OBTAINED. LTIIB PRESS Special Service.] | AUCKLAND, July .10. Considerable progresa is being made w\th gold mining ventures in Fiji, ac voraing to Mr W. Colley, an Australian mining; engineer, who is passing through Auckland by the Monowai on his return to Sydney after spending two years in Fiji, directing oper tttions on behalf of an Australian synd.tate which is mining on a large scale. A l;U'ge modern crushing plant had been erected by the company, Mr Colley sai'fr, and the results were proving highly .satisfactory. Mining was carI ried out on Viti Levu, the principal island ot the Fiji group, and was confined Co .reef mining. Rich gold-bear-ing reels', had been found, and there was evei'y prospect that expert investigatioEi might reveal other rich areas. Another passenger on the Monowai is Mr E. Q. Theodore, formerly Commonwealth Treasurer, who has spent several weilks in Fiji investigating a second goldimining venture controlled by Australian capital, in which he is interested, .MAHAIOPAW A RETURN. I Advice has 'tieen received from the 'mine manager that the wash-up lor the week proaucecZ 55 ounces of alluvial gold. GOLDEN TERRACE RETURN. I | .'titf.SS As.,o< Ut i iUMUGA*.) i OTJNEDTN. .July 10. | The Golden Teirrace return is 490z ; for the week. OKARITO RETURN. ! j DUNEDIN, July 10. i The Okarito return is OLfo;; adv.i for 1120 hours. ! I 1 LAWSON'S ILAT RETURN. The secretary reports that the washup of Lawson's Flat Sluicing Company for the week ending Saturday. July produced 40oz 12dwt of melted gold. FIXED DEPOSITS. REDUCTION IN INTEREST RATES. U'HUSS ASSOCIATION TELEtiRA.M.i WELLINGTON, July 10. The banks to-morrow will reduce fixed deposit rates as follows: Three months and under, two per cent. Six months and under, two and a half per cent. Twelve months and under, two and three-quarters per cent. Twenty-four months, three per cent. AUSTRALIAN COIN. DISTRIBUTION AMONG NEW ZEALAND BANKS. IMKSS AStfO(.IA.nON' TEI.EOBAM.) WELLINGTON, July 10. A consignment of Australian silver coin arrived from Sydney to-day in the Maunganui for distribution among New Zealand banks. DAIRY PRODUCE. TIIE LONDON MARKET. j A. H. Turnbull and Co., Ltd., report as follows: The following are the London mean quotations for the week:— June 30. July 5. n4* cwt - cwt - I Butter— N.Z. Salted .. 77/- 78/- ' Kangaroos .. 77/- 78/- j i Danish .. 90/- 90/- 1 ' Market .. Quiet Firm j i Cheese—j N.Z., white .. 47/G 4!)/6 N.Z., coloured .. 49/6 51/6 ! Market .. Firmer Firm Butter at 77/- to 78/- equals approximately net, f.o.b. | Cheese at 50/- equals approximately j 5.35 d net, f.o.b. (white). Cheese at 51/- to 52/- equals apI proximately 5Jd net, f.o.b. (coloured). ! Estimated arrivals in the United : Kingdom of butter for July, August, : and September are 25,500 tons, com- [ pared with 19,979 for the correspond- ; ing months last year. Cheese 19,296, J compared with 17,604. Butter. The British market has been in an unsettled state throughout the last month, the trade generally marking time awaiting developments on the vital questions of quotas and currency under discussion in London. Then came the lifting of the Russian embargo, and the fear that accumulated supplies might be dumped upon the London market, which undoubtedly had its effect; at the same time other Continental shipments were largely increased, causing a renewal I of the accumulation of stocks in the I United Kingdom. I At the end of June, prices for New j Zealand had receded to 775, with a quiet and slow market, but hot, dry weather has since been experienced, giving a decided stimulus to dairy markets generally, and the latest cablegram received from Messrs W. Wed~e) and Co., Ltd., advises an advance of Is in both New Zealand and Australian butters, and a firm market. They state that with a continuance of the present weather conditions, they fully expect a gradual improvement in prices. Cheese. Cheese eased in sympathy with the butter market, but towards the end of the month a decidedly better feeling prevailed, more especially in white cheese, which has now regained its normal relative value to coloured. On July 1 the market stood at 47s 6d per cwt for white, and 49s 6d per cwt for coloured, since when an advance of 2s 6d has been recorded with a firm market, which it is expected will now continue, partly owing to the excellent consumption, but stimulated also by the fact that the Canadian production is considerably below normal. The fact that London cables feature the good sale for New Zealand cheese goes to show that our quality has largely been restored, and no complaints of black spot have so far reached us this season. The South Island Dairy Association, Ltd., has received the following market report from the New Zealand Produco Association, Ltd., London:— Cutter—The market ib quiot. 7Ss to 70a; Danish 90s to 9Ue. Cheese—The market J* While 40s to 50s, coloured 5-' a.