BRITISH MARKETS WEAKER

Press, Volume LXXIII, Issue 22194, 10 September 1937, Page 15

BRITISH MARKETS WEAKER

EFFECTS OF WALL STREET SLU*IP SOME RECOVERY LATER (united press association -copyright.) LONDON, September 8. The overnight slump on Wall Street, combined with international uncertainties, has depressed stock markets, and internationals have been sold heavily. Gilt edged securities were fractionally lower, and Japanese bonds fell two to three points. Shipping shares were freely offered at 'ower levels, and gold shares lost all their recent advance. A later message states that, following a recovery on Wall Street, the Stock Exchange street market saw a most active crowd, the largest of the year. Dealers are inclined to be more optimistic regarding the European situation. in spite of the absence of any official statement after the Cabinet meeting. MINING MOONLIGHT The Moonlight Goldfields Company. Ltd., report that the wash-up at the company’s claim on September 8 was 83oz lor 269 hours’ sluicing. WHITES ELECTRIC The Whites Electric Gold Dredging Company (Barrytown), Ltd., reports that the engineer supervising the reconstruction of the tables reports as follows as at September s:—l am pleased to inform you that the work of reconstruction of the tables is almost complete. During the last week nine shifts carried out intermittent dredging permitting adjustments to be made. The distribution and general working of the reconstructed fables proved very satisfactory. During the coming week three shifts daily will be worked. The dredge is now being worked at a capacity of 12 000 yards a week, and there is every indication that it will be possible in future to work at this rate and at the -ame time make a high percentage of -ecovery. MOSSY CREEK (press association telegram.) GREYMOUTH. September 9. The Mossy Creek washuo was 40oz sdwt for 220 hours, and 15,206 yards, half of which had been previously dredged. There will be no washup next week as the dredge will be undergoing repairs. ALEXANDER MINES t Alexander Mines. Ltd., report that for August, 1937 420 ons of ore were crushed for a return of 2720z Bdvts melted gold. The cyanide department treated for the same period 268 tons of sands for 88oz lldwts of bullion The total estimated value was £2320 In addition 10.2 tons of concentrates were saved, valued at £327. (In estimating values, gold has been taken at 140s a fine ounce.) A dividend (No. 13) of one shilling a share (free of income tax) has been, declared on all shares, and will be payable on September 20. 1937. This dividend represents a distribution of £3750 to the shareholders, which makes a total of £48.750 paid in dividends since operations commenced Transfer books will be closed from September 14 to 20. METALS MARKET _ • LONDON, September 8. Sept. 7. Sept. 8. £ s. d. £ a d

spot 56 0 7J 56 11 10 \ Forward 56 3 1J 56 11 10J Electrolytic., 61 15 0 62 5 0 to .. 62 15 0 63 5 0 Wire bars .. 62 15 0 63 5 0 Lead— • Spot .. 21 18 1J 22 7 6 Forward ~ 22 0 7J 22 8 1} SnHter — Spot .. 22 19 4J 23 4 4J Forward .. 23 3 l| 23 9 4J T 'spot .. 260 15 0 260 15 0 Forward .. 259 12 6 259 12 C SilverStandard, per oz. .. 1915-I6d 1915-16 d Fine, per oz. 21 Id 21 Id PRICE OF GOLD LONDON, September 8. Gold is quoted at £7 0s s|d a fine ounce. PRICE OF SILVER (BRITISH OFFICIAL WIRELESS.) RUGBY, September 9. Spot silver is quoted at 19 15-16 d a fine ounce and forward at 19£ d.