MINING

Press, Volume LXX, Issue 21323, 16 November 1934, Page 13

MINING

MOONLIGHT GOLDFIELDS COMPANY A well-attended meeting of shareholders in the Moonlight Goldfields Company, Ltd., was held in Christchurch yesterday afternoon to consider and ratify an option given to Investments, Ltd., over part of the company's areas (on the West Coast) as set out in a previous notice to shareholders. The action of the directors in giving' the option had caused criticism ftom the company's former manager, whose reasons were published in, a recent issue. Mr Harvey H. Cook (chairman) presided at yesterday's meeting. He explained the details of the option as follows:—(1) Part of the company's area below the Moonlight road and part of Hay's Farm above the road—approximately 300 acres; (2) 250 acres nearby, which had then been recently acquired by transfer from Mr J. E. Forbes, then manager on behalf of Messrs S. B. White and himself, and the balance then also recently acquired by the company of 150 acres. The chairman said that it would thus be seen that of the total of 700 acres, .'SOO formed portion of the company's original holding. The remaining 400 acres had been acquired in order to make up a suitable area to offer as a dredging proposition. The circular made it clear that the project in no wise affected the lay-out of the pipeline or the original programme of the company. To ensure this, and at the suggestion of Mr Forbes, a special claim of 65 acres lying between the Moonlight road and the Grey river was pegged and acquired by the company as a sluicing area and tail-race site to the Grey river, to be used in connexion with the company's mining scheme. The directors and the manager considered that in view of the large areas held by the company it! was wise to take advantage of an opportunity to dispose of a portion of the company's holding, which, owing to its remoteness from the source of the water supply and the contour of its surface, was not particularly attractive for sluicing, but should be more suitable for dredging. The great advantage in the directors' opinion which would accrue to the company should this option be exorcised was that without interfering with the projected activities of the company, the tatter would at the same time be participating in any profits derived from the working of the additional area The company's water supply from the Koaring Meg was in no way affected by this option. The chairman then moved that the action of the directors in granting an option to Investments, Ltd, as set out m the deed of option be confirmed fins was seconded by Mr S T Peters and carried with only four dissentients. MATAKI DIVIDEND U'IUSS ASSOCIATION TELBGBAV.) AUCKLAND, November 15. The directors of Mataki Gold Dredging, Limited, which is operating near Murchison, have declared a second interim dividend of Id a share. The capital of the company is £35,000, in shares of 2s each. MINING DREDGEMASTERS Eight candidates for certificates as mining dredgemasters were examined at Grcymouth on Wednesday, the examining board comprising Messrs C. J. Strongman, E. J. Scoblc, F. Lewis, and Captain F. W. Cox.

FOREIGN EXCHANGES (BRITISH OPFICIAL WIBELESS) in.'CnV, November 14. Bar. Nov. Hi. Nov. 14. Paris, fr. to £1 3 2 1.21 75 21-52 75 27-32 Nov York. dnl. (i. XI 4.300 5.00 A 4.993 Montreal, dol. to £1 4.BGG 4.87 i 4.80S Brussels, liclgns to .£1 55 21.47 21.1t Geneva, fr. to £1 23.2215 15,13 15.59 Ainslerdam, fl. to £1 12.107 7.40 i 7.301 Milan, lire to XI 02.10 58} 58? Berlin, rcichniarken to £1 .. 20. It! 12.44 J -'. i:j Stockholm, l.r. lo £L 18.159 19.50 i 19.39J Copenhagen, kr. <o"£l 18.159 22.10 22.40 Oslo, kr. lo x.i is.ts9 id.ooJ j0.005 Vienna, uehgs. to .CI 54.585 27 i 27 Prague, kr. lo XI 10 1.25 119:1 JlflJt Holsingfors. marks to XL 10:j.2:t 2201 22'u Madrid, pesotas to £1 25.2215 56 21 112 (10 19-52 Licbon, cscudos to £1 110 nnl linl Alliens, draeh. to XI. 575 52.'1 52:! Bucharest, lei to £1 818.0 sor, 407 Belgrade. , dinars 25.2215 22.0 -1.0 Rio do Janeiro, pence to milreis .. 4.892 4J 4\ Buonos Aires, pence to dol. 45.577 :;6i ..(-1 Montevideo, pence to do/. 5 7 50 »9 B ° m, ;o y Vupr 10 18 1-10 18 1-10 Shanghai, pence t inz Hong Kline pence to dol. * 20J ~° Yokohama. pence to yea 24.57 14 5-04 14 Warsaw, liar zlotysto-El 43.50 ~ Batavia. a guilders 12.107 * Determined by pnea ot silver. EXCHANGE KATES The Bank of New South Wales, Christchurch, notified the following rates Tilling yesterday lor its Bales and purchase of foreign exchange. The rates are subject- to alteration without notice:— Buying. Selling, Kr ]"ra7c~s toil N.Z. T.T. 01.50 60.29 O.I.). 01.80 60.34 Noumea —■ , Francs lo £1 N.Z. T.T. 02.54 50.5 O.D. 02.94 50.50 Papeete — I'raiics to £1 N.Z. T.T. 62.54 5 .54 O.D. 02.04 50.50 BO JiL""as~lo£lN.Z. T.T. 17.000 IO.OfIO " ' O.U. 17.700 10.021 Germany—■ Iteichmarks to XI N.Z. T.T. -- 0.710 O.D. Italy— ~.,._ Biro to £1 N.Z. T.T. O.D. Switzerland I'rancs to £1 N.Z. T.T. 12.500 12.190 O.D. 12.005 12.200 """lo" i'nT lo iIN.Z. T.T. 0.077 5.827 O.D. 0.127 5.831 ' "VloTins lo £1 N.Z. T.T. 0.6)8 5.823 O.D. 0.098 5.827 Japan— N.Z. pence lo yen T.T. O.D. Shanghai— N.Z. pence to dol. T.T. 19 19-52 20 20-32 O.D. 10 15-32 20 27-32 India and Ceylon—■ N.Z. pence to nip. T.T. 22 9-32 22S O.D. 22 5-32 22 9-1G Hong Kong— N.Z. pence to dol. T.T. 24 i 25 9-10 O.D. 24y 25i Singapore— N.Z."pence to dol. T.T. 34 7-10 55JJ O.D. 54 5-10 55 5-10 T.T. represents telegiaphic transfers. O.D. represents on demand transactions.