AUSTRALIAN WOOL CHEQUE

Dominion, Volume 31, Issue 241, 8 July 1938, Page 14

AUSTRALIAN WOOL CHEQUE

Heavy Decline In Value

Sydney, July 7. There was a heavy decline in the value of wool sold in Australia during the 1937oS season, which endcnl on June 00. •Receipts amounted to £43,51'5,769, compared with £60,175,497 in the previous season, a fall of 27.6 per cent. The turnover was slightly less, *.,ib<>,759 bales, compared with 2,899,144 bales in 1936-37, representing a decline of -1.8 per cent. Broken Hill Proprietary Reports from Newcastle indicate that good progress is being made with the work of extending the steam generating buildings and plant at the steel works of the Broken Hill Proprietary Company, Limited." These extensions are part of the big scheme adopted by the_ company some time ago. An outlay of £500,090 is involved. ■ xVnother large work on which substantial progress has been made is that of extending the wharves. The superstructure will be supported on massive concrete piles made on the plant. The additional wharf accommodation will be between 800 ft. and 900 ft. Molyneux Dredge Stopped Dominion Special Service. Dunedin, July 7. Because of the low level of the river, caused by heavy frosts in the back country, the‘Molyneux Gold Dredging Company’s dredge ceased work on Tuesday night. Continuance of the frosts and a consequent fall in the river make dredging dangerous on the present site because modern metal pontoons cannot risk going aground on the rocky bottom. The Clutha Company’s dredge is not affected and is still working. Until a normal quantity of water is again flowing, the Molyneux dredge will remain idle. Meanwhile the dredge is being overhauled and the 20 hands composing the crew are engaged in repair work, which should provide employment for a week to 10 days.