MINING

Press, Volume LXXIV, Issue 22593, 24 December 1938, Page 14

MINING

BLACKBALL COAL MINES NEW AREA BEING OPENED UP “With reference to the report which appeared in “The Press” recently concerning the closing down of the old Blackball mine, it would appear that an incorrect impression that Blackball coal would no longer be obtainable has been given.” said the secretary of the Blackball Coalmines Proprietary, Ltd., yesterday. “The position is that Blackball coal is still being mined from a portion of the old mine leased to the Blackball Creek Company. The coal being produced is from the same seam as was being worked in the main mine, and there is ample coal available for some years. “During the last few years the work in the old mine has been cqnducted under most difficult and disadvantageous conditions owing to the fact that the coal was being won from scattered areas through old workings. Constant care was necessary by reason of the fact that the old workings were on fire in many places, and it redounds greatly to the credit of Mr J. G. Quinn, mining manager, his underviewer (Mr Waters), the mine officials and underground workers, that a large quantity of coal has been saved from areas which had been abandoned. “While these operations were in progress, a large sum was spent in prosprecting and development work in other parts of the property, and the Blackball Proprietary Company is now opening up a new area which is expected to contain enough coal to keep the market supplied for another halfcentury. The mine is to be equipped with the most up-to-date mining and transport machinery, and in equipment will be equal, if not superior, to anv mine in Australia or New Zealand. “Production is expected to commence from this area within the next five months. The suggestion that has been made that the township of Blackball is doomed to go out is therefore very wide of the mark.” GILLESPIE’S BEACH The Gillespie’s Beach wash-up for the w r eek ended yesterday was 450 z 10 dwt for 193 hours and 29,580 yards. FOREIGN EXCHANGES

QUOTATIONS FROM BANK OF NEW SOUTH WALES The Bank of New South Wales quoted the following exchange rates yesterday:— Buying. Selling.

ASSOCIATED BANKS’ DOLLAR RATES The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday rn a New Zealand currency basis. They are subject to alteration without notice:— U.S.A. Canada.

(BEITI8H omcm. wtasutsa.l Paris, fr. to £1 RUGBY Par. 179.60 December 22. Dec. 21. Dec. 22. 177 7-64 177 5-32 New York, dol. to £1 4.866 4.661 4.662 Montreal. dol. to £1 4.866 4.70 1 4.701 Brussels, belgas to £1 35 27.651 27.69 Geneva, fr. to £1 25.2215 20.64i 20.67 Amsterdam. fl to £1 12.107 8.57J 8.59 Milan, lire to £1 92.00 835 883 Berlin, reichmarken to £1 20.43 11.62 11.65 Copenhagen. kr. to £1 18.159 22.40 22.40 Stockholm. kr. to £1 18.159 19.42 19.42 Oslo, kr. to £1 18.159 19.90 19.90 Vienna, schgs. to £1 34.505 _ Prague, kr. to £1 164.25 135 i Kifi Helsingfors, marks to £1 193.23 2262 2262 Madrid, pesetas to £1 25.2215 Lisbon, escudos to £1 110 110 3-16 110J . Athens, drach to £ 1 375 547J 547J Bucharest, lei to £1 818.60 660 660 Belgrade. dinars 376.3 209 209 Rio de Janeiro, pence to milreis 5.899 3 1-16 3 1-16 Buenos Aires, pence to dol. 11.45 20.51 20.45 Montevideo. pence to peso 51 18 181 Bombay, pence to rupee 18 17 59-64 17 59-64 Shanghai. pence to yen . 83 83 Hong Kong, pence to yen • 15 15 Yokohama, pence to yen 24.58 14 14 Batavia. guilders 12.107 8.56 8.562 Warsaw. zlotys to £1 43.33 26.31 26.31 •Determined by price of silver.

N.Z. on London— £N.Z. to £100 Stg T.T. 124/10/125 O.D. 124/1/3 124/19/6 Australia — £A to £100 N.Z T.T. 100/10/100 O.D. 100/10/100 Fill— £F. to £100 N.Z. T.T. 90 88/12/8 O.D. 90 88/12/6 New York — Dol. to £1 N.Z. T.T. 3.7644 3.7155 O.D. 3.7694 3.7165 Montreal— Dol. to £1 N.Z. T.T. 3.8042 3.7441 O.D. 3.8129 3.7451 Belgium— Belgasto£l N.Z. T.T. 22.432 21.892 O.D. 22.507 21.897 Czechoslovakia— Korunas to £1 N.Z. T.T. — 106.61 O.D. — 106.63 Denmark— Kroner to £1 N.Z. T.T. 18.218 17.686 O.D. 13.278 17.688 Finland— Marks to £1 N.Z. T.T. 188.15 176.00 O.D. 186.55 176.10 France— Francs to £1 N.Z. T.T. 144.50 139.50 O.D. — 139.52 Germany— Beichmarks to £1 N.Z. T.T. — 9.155 O.D. — 9.157 Greece — Drachmae to £1 N.Z. T.T. — 418.68 O.D. — 418.83 Holland— Florins to £1 N.Z. T.T. 7.020 6.765 O.D. 7.060 6.767 Italy— Lire to £1 N.Z. T.T. — 70.40 O.D. — 70.42 Java— Florins to £1 N.Z. T.T. 6.993 6.733 O.D. 7.033 6.735 Norway— Kroner to £1 N.Z. T.T. 16.201 15.704 O.D. 16.261 15.707 Noumea— Francs to £1 N.Z. T.T. 149.50 136.00 O.D. — 136.04 Papeete— Francs to £1 N.Z. T.T. 148.30 136.30 O.D. — 136.34 Sweden— Kronor to £ 1 N.Z. T.T. 15.832 15.330 O.D. 15.892 15.333 Switzerland— Francs to £1 N.Z. T.T. 16.792 16.327 O.D. 16.897 16.329 Chefoo— N.Z. pence to dol. T.T. Nominal O.D. Nomina] Hong Kong— N.Z. pence to dol. T.T. 18 7-16 19 3-32 O.D. 182 19 3-32 India and Ceylon— N.Z. pence to rup. T.T. 22 9-64 22 41-64 OK. 22 7-64 22 41-64 Japan— N.Z. pence to yen T.T. — 172 O.D. — 172 Manila— N.Z. pence to peso T.T. Nominal O.D. Nominal Shanghai— N.Z. pence to dol. T.T. Nominal O.D. Nominal Singapore— N.Z. pence to dol. T.T. 34 29-64 35 19-64 O.D. 34 25-64 35 19-64

(Per £1 Del. N.Z.) Dol. Selling— T.T. .. 3.711-16 3.74 11-16 O.D. .. 3.715-16 3.75 Buying— T.T. ## .. 3.75| 3.79 7-16 OJ>. • • .. 3.76 J S.Sujt