MINING.

Press, Volume LXIX, Issue 20920, 29 July 1933, Page 9

MINING.

| OriTONLI DEVKI.OI'MENTti. LIMITED. ! The mine manager's report for the. j week ending July 22 states: No. I cut R.T.S. rref has intersected a splendid channel of country pnd indicates further quartz in Ihc wall. Four samples assayed. (P Face or cut IBin Inst.: Gold Sdwts, silver 2ldwts, value 13s fid. '-'• Face of cut 20in inst.: Gold Idwt. 12grs, silver Gdwls, value 6s fid. i3> Samples from rich portion of reel: Gold 2oz IMwls. silver 7oz 19dwt. value 219s 7d. The ore obtained from each cut. will be dumped in separate heaps lo enable accurate: general sampling. Power of Paddy's Tunnel —The righthand branch goes only a short, dis | tance, and nothing of importance is showing. Testing with the dish is proceeding. A sample of hard quartz taken from a paddock near the portal assayed 2oz Idwt gold, loz 7dwt silver, value 166s 3d. A large percentage of the assays are now showing a higher ratio of gold as to silver, and quartation is necessary to determine the amounts of gold and silver a ton. The quartation gear has been obtained for the purpose. Turner's Leader Some nice dish prospects were obtained, and values improve going towards R.T.S. reef. Turner's sample assayed loz ltfdwt gold, loz 4dwts silver, value 14fis. I | j FRESHFOKD h'ETL'KN. j vriißFa issutmioj; telkukau.. INVERCARGILL, July 28. The Freshford Dredging Company's return for 119 hours' work totalled 18oz. KING SOLOMON W.VSH IP. I | _ | j INVERCARGILL. July 33. I The Kin? Solomon wash-up for the j week totalled OBoz 17chvt ; | | BRADFORD TOPS. A UUIET MARKET. [ (CMTED TMIBSS AS.SO('IATIi«S-- r-T K.1.K.C1 111 C LONDON, July 27. » Bradford js quiet. Merino quotations I are steady, while crossbreds tend to ' be in buyers' favour. Quotations: - | July 20. July 27. ; (i. d. I Seventies . . • • '■'■'■ '■'>'■'• Sixty-fours; .. .. 31 301 Sixties .. •• 29 29 ! Fifty-sixes .. .. 2U 211 Fifties .. . ■ I'>-' .'•* i Forty-sixes .. ..12 HI i Forties .. •• " "J.' ; , AUSTRALIAN RECOVERY. | POINTS OF ACHIEVEMENT. I The monthly review issued by i Messrs H. Byron Moore. Day. and ! Journeaux, of Melbourne, dated July I 17, contains the following reference to the improvement that has occurred in the economic position of Australia: "We have been blessed with bountiful seasons, but other countries similarly favoured have not made the same progress towards economic recovery. We have converted an unfavourable balance on overseas trade to a satisfactory surplus without the assistance of a rise in price levels. Budget deficits of more than £10,000,000 have been reduced to less than £9,000.000 in three years. Unemployment, although still acute, has been reduced, and manufacturing costs are substantiality lower. i Interest rates have fallen considerably, ! particularly in respect of Government | loans. Stock Exchange securities, which suffered severe depreciation, ! have recovered more than 50 per cent, of their loss, whilst notwithstanding the distressing circumstances surrounding the industry, primary production for 1932-33 reached almost record proportions. "Savings Bank deposits have increased, and the quarterly returns of the various trading banks continue to reveal a particularly strong position. The Commonwealth note issue has been reduced by about £4,000,000 In the last 12 months, whilst London funds after meeting all obligations in the meantime have increased by about £9,814,000. Bank clearings for the last half-year have improved by more than 20 per cent, compared with similar figures for 1932. Company earnings are improving, although no general movement towards increased dividends is yet apparent. Confidence has been completely restored, and credit is being extended to meet all reasonable demands. "In spite Of legislative interference there is an abundant supply of mortgage money available for all classes of security. Building operations have increased, and some interest is being taken in the property market. Wool, wheat, metals, butter, lamb, and other commodities have substantially improved in price during the last few weeks, and although in the earlier part of this year seasonal conditions were bad. the. recent splendid rainfall has relieved the situation and the outlook is considerably brighter. "The Commonwealth Government closed its financial year wi!h a surplus of more than £3.500.000. and some relief to taxpayers is likely to follow. "In spile of the colossal difficulties contendedwith.no other country can point to a similar measure of recovery as that experienced in Australia, and although the future is wholly dependent upon a further rise in commodity prices the outlook i* full of promise. Britain is strenuously resisting a return to the gold standard on its old parity, whirh seems to indicate that, stabilisation of the pound will be on a lower basis than its present level, in which cose further rises in prices may be expected, with beneficial results to Australia.'' FURNJTURK S.U.K. Jlcsf-rr. Hulrhinuon. White, T.tcl.. ;.u<'ti«iifi;rr and f*tati) atf'-nt?, report lfirg? e«tnli-i?un«; of Kfneral furniture and offer Is. I'riii.-ipal t:ale» ' made ini'ludffl 3 ruj;s i'l 17s CI, du.-li.jj; ■■<■ .SI j 10s. fi !<itelioi> chairs S2 80, oln.-e cahin.l i 5s 6(1. 0.-ik tallboy P4, of <lr«v <Tii fiat rid, '2 »tret'-hprs I f.p. rot mattrr.»i> H'f. | eragrttss chair !'I 7s Cd, iiuanfilv brddinj i'O 10s, records .'.'l 10?, i>.ilm stand 7.« od. ;: | piece moquettr- rlirsfrfir-M (iiiilc SI", fllinr I cabinets Jt2 n.--. c;ird table- lls Hi), doiililo wood bed X I 7b 'id, <lu. .i". 10?. :.:<"'o y.-.rd., curtain net i'lo, SMtelr; tabic SI. (<■:. - ,-ic son S\ 'ij vd, 27; rU linn. .i'K I,'i.-. radiator 14s Pd, scagra«s chair I'Jr,, duch»'L.<c !' I 15s. seajrass chair I-"s Id. b.iilcf •• !iai r 6n, eca?raßtf mat J os. three flunrtcr S(i, blankets ","h. quantity p*.< cholojy liopJo' Sr>, easy chair ,i"- Sr, 1 kitchen chairs J l l ] ?x, lluo. £3 f/.i. 1 high-bark r-hairf, oak £2, booV<!a«e £1 5«, quantity beddin; i'S 1 kitehea table 12s 6d, oak table tZ Ss, 1 durbesße XI 10s, kauri chair IS?, Kouf-r electric clecoer £l2, English piano i'll 10f, child's pram i't 10i, oak tea ivajjgou IDs, ehild'B pram £1 10s, oak tea waggon ]fi», fire-screen 10a, 1 bcttco 15s, bookcase XI sb.