BASE METALS MARKET

Dominion, Volume 31, Issue 204, 26 May 1938, Page 14

BASE METALS MARKET

Copper Weak; Others Firmer By Telegraph.—Press Assn.—Copyright. London, May 24. file official London (middle) quotations HS reported by the Ausu-aliau Mines and Metals Association, compare with those previously cabled as follows:—

London Stock Exchange

IS.v Telegraph.-Tress Assn.— Copyright. London. May 24. Ou the Stock Exchange to-day qnotation.s for corporation debentures and stocks compare witli those previously cabled as follows:-—

Bulolo Gold Dredging

Bnlolo Gold Dredging Ltd. reports that for the month of April the total gross production amounted to 17,4200 z. of bullion containing 12,0200 z. of fine gold IToiu 1,137,(100 cubic yards. Estimated working profit 842<Soz. of tine gold. The above production is equivalent to £105,175 and working profit to £73,745 on the bat*w of £B/15/* (Australian) a fine ounce of gold.

Mount Lyell Production The Mount Lyell Mining anti Railway Co., Ltd., has issued the following progress report for the fortnight ended May 11:—.North Lyell: Tons extracted 290 b. Crown Lvell: Tons extracted 1985. West Lyell: Tons extracted 31,887. Lyell Cornstock: Tons extracted 3215. No. 9 level, north drive to 119 ft. through ore; west crosscut to 7ft. through mineralised schist. No. 10 level, cutting plat in progress. Reduction works: Furnace in blast for full period; 6993 tons refinery anodes made for current year. Concentrator: Mill operated 336 hours and treated 39,813 tons ore, producing 2382 tons concentrates. Copper refinery: Tank house in operation throughout fortnight, 506 tons cathode copper being produced for the period. Total for current year 7307 tons. Gold Mining Returns The Molyneux gold dredge reports a return of 103 oz. for 175 hours worked during the two weeks ended May 21. The Okarito dredge reports a return of 2Goz. for 103 J hours' work. Northern Steam Ship Company The directors of the Northern Steam Ship Co., Ltd., in their annual report state that net profit for the year ended March .'ll, 1938. was £4744/18/1 1. making witli the balance of £lO4l/15/9 brought forward from the previous year a total of £5786/14/8 available. The directors recommend a dividend of 3 per cent, (unchanged), taking £3390. adding the sum of £1350 to accident insurance account, leaving £1046/8/4 to be carried forward. London Butter Market Slow London. May 24. Tlie butter market is slow. Choicest salted New Zealand, 128/- a cwt.; Australian. 125/-; unsalted. New Zealand. 129/- to 130/-; Australian, 126/-.

May 23. Per ton May 2-1. Per ton. Copper - • .C s. d. d. Standard, s pot ... 34 3 J) 31 1 u Ditto, forward ... 34 8 9 31 6 3 Electrolytic 38 10 0 38 5 0 to 39 5 () 39 5 0 Wire liars 39 5 0 39 5 0 Lead -- Spot .... 13 11 lot 13 IS 1) Forward . a ■ ■ ■ * . 13 15 71 14 3 u SpelterSpot .... 12 8 n 12 1.2 11 forward 12 11 10} 12 11 TinSpot . 159 15 o 1(11 2 I] Forward 160 7 1 . 161 17 (> SilverStandard, 1 iSSd. IS II-Hid. Fine .... 2D Jd. 20 3-Mid.

May ic Mav 2-1 £ s. (1 £ s. <1. JJal.net v aiai Co., •1 p.e 00 10 0 00 10 () Dalget.v and Co.. shares 0 10 0 6 10 1 1 British Tobacco . I .17 1 17 ■IJ Golds!) rough Mort 1 5 0 1 .j P. and 0. Del’d. . 1 2 0 1 0 Mount Lyell shares sold at 17/0 New Guinea Gold at 1/-. and