MINING NEWS

Evening Post, Volume CXXI, Issue 144, 19 June 1936, Page 12

MINING NEWS

MOUNT MORGAN REPORT •Mount Morgan, Ltd., has advised the New Zealand Stock Exchange Association of the following production report for the four weeks ended June 10: Total production for period: Gold, i32500z; copper, 85 tons. Ore mined f 22,932 tons: concentrate treated, 23,540 tons, assaying 4.2ldwt of gold and .43 per cent, of copper. Concentrates produced, 841 tons, estimated to produce 32500z of gold and 85 tons of copper. During this period rain interfered with production, the open cut losing 62 hours, representing 11 per cent, of the working time. KOROERE GOLD SHARES. Koroere Gold No Liability has advised the Wellington Stock Exchange that all shares forfeited for non-pay-ment of the first call of 6d per share were to have been sold by public auction at the Stock Exchange Hall, Melbourne, on June 18, unless previously redeemed. A NEW COMPANY. Astral, New Zealand Mining, Ltd., has been registered in Christchurch. Capital: £605,000 into 600,000 ord. shares of £1 each and 100,000 del shares of Is each. Subscribers: Sydney—F. Leverrier 200. W. A. Freeman 200. R. J. O. Richardson 200, F. V. Stanley 1, C. C. Nardin 1, L. B. White 1, A. G. Tweddle 1. Christchurch—F. G. Dunne 200. Federated Malay States —E. E. G. Boyd 200. Objects: Mining and incidental. GOLDEN CROWN MINE. Golden Crown, Auckland district, reports a crushing of fifty tons general ore and one ton selected ore. Saved by amalgamation, £9 5s 6d; tailings and slime, £1 4s 6d; total, £10 10s. Extraction by amalgamation, 91.5 per cent. ELECTROLYTIC ZINC. Production of the Electrolytic Zinc Company of Australasia, Ltd. (Melbourne) for the four weeks ended May 27, compares as follows with the four weeks ended April 29:—Zinc, 5431 (5436) tons, of which used at works 80 (80) tons; silver-lead product, lead 150 (185) tons; silver, 26,000 (18,500) ounces. The West Coast mines figures for the same period are:—Zinc, 4143 (3760) tons; lead. 851 (729) tons.

BULOLO. Production of the four dredges of Bulolo Gold Dredging, Ltd., (New Guinea), for May is as follows, with figures for April in parentheses:— Gross production of bullion. 15,815 (17.398) ounces, containing 11,196 (12,265) ounces of fine gold, from 1.051.500 (974,800) cubic yards. The production is equivalent to £97,985 (£107.318) and working profit to £66,797 (£72.931) on the basis of £8 15s a fine ounce of gold.

AUSTRALIAN SHARES

HESITANT MARKET I (By Telegraph—Press Assn. —Copyright.)' SYDNEY, June 18. On the Sydney Stock Exchange the investment market today was in a hesitant mood, for which the under-sub-scription of the new Federal loan and influences associated with the financial end of the year were mainly responsible, resulting in a mild reaction from the recent advances in prices. Sales: Bank of New South Wales, £33 7s 6d; Commercial Banking Co. of Sydney, £20 3s; Union Bank, £9 10s; Automatic Totes, 19s; Howard Smith, 19s 4|d; Burns, Philp, 73s 3d; Australian Gas, A, £7 11s 6d; British Tobacco, 41s 3d; British Tobacco; pref., 28s; Tooths Brewery, 53s 9d; G. J. Coles, 79s 3d; Queensland Brewery, pref., 24s 9d; Australian Iron and Steel, pref., 25s 9d; Australian Glass, 925; Dunlop-Perdriau, 17s 7£.d; Morris jHedstrom, 25s 10Jd; Fairymead Sugar, i4Bs; Electrolytic Zinc, 39s 3d; Anthony tHordern, 18s 6d; Standard Cement, 20s 9d; General Industries, 19s 7Jd; Mark Foy, 27s lid; Hume Pipe, 20s; Australian Gypsum, 19s 6d; Broomflelds, 9s sd; United Provisions, 14s Id; Australian Drug, 14s 9d; Peters, 435; Hackishalls, 16s 3d; W. R. Carpenter, 435; Woolworths, Ltd., ordinary, buyers, £5 13s, sellers, £5 15s; Woolworths, Ltd., second pref., 26s 6d; Broken Hill Proprietary, 725; Broken Hill South, £5 8s; Rawang Tin, 8s 9d; Placer Development, £5 12s 6d; Lady Shenton, 3s 2 ' MELBOURNE, June 18. 1 Sales on the Melbourne Stock Exchange today included:—Electrolytic Zinc, 39s 6d; G. J. Coles, 80s; "Herald and Times," 68s- 6d; Mt. Morgan, 15s lid; Mt. Lyell, 255; Emperor, 12s 9d; Loloma, 17s 6d.

WOOLWORTHS BONUS

SHARES

(By Telegraph—Press - Assn.— Copyright.) SYDNEY, J-une 18. Woolworths (New Zealand), Limited, are making a bonus issue of shares in the proportion of two new shai-es for every flve shares held at June 18.

BERLEI (N.Z.). LTD

Berlei (N.Z.), Ltd., Auckland, corset manufacturers, is calling an extraordinary general meeting of shareholders to consider a proposal to capitalise £14,000 and to distribute two fullypaid shares of £1 each for every flve shares held. This will be done by valuing the goodwill, including patent rights, etc., at £14,000, and establishing a goodwill reserve account from which a transfer to capital account will be made. The company has an authorised capital of £50,000, of which £35,000 is paid.

WESTPORT-STOCKTON FINANCE. The Westport-Stocklon Coal Com pany is paying off apnroximately onethird of its 6£f per cent, first mortgage debentures. A statement to this effect was made to the Christchurch "StarSun" bv the chairman of directors, Mr. William Hardie. The last balance-sheet of the company for the year ended December 31, 1935, disclosed secured debentures, £48,550, with accrued interest at £631, making a total of £49,181. Balance at bank on deposit and in current account, and cash in hand at that date, were shown at £28.403. TRICE OF SILVER. (British Official Wirelcss.i RUGBY, June 17. Price of Silver.—Spot, 193 d per oz; forward, 193 d. BRITISH WAR LOAN. ! British Official Wireless.) RUGBY, June 17. British War Loan, 3 per cent., is quoted at £105 11s 3d. POLISH EXCHANGE. ; (IV TuioKvapli—Press Assn.—Copvi-ight.) (Received June 19, 10 a.m.) WARSAW, June 18. Sterling exchange. 26.75 zlotys to £1.

THE FRENCH FRANC. 'By Telegraph.—Press Assn.—Copyright.) (Received June 19, 9.30 a.m.) LONDON, June 18. Sterling exchange on Paris, 76 3-8. The rate on June 17 was 76 7-16. PRICE OF TIN. ,By Tnleerapli — Press Assn — Copyright. l 'Received June 19, 11.30 a.m.) NEW YORK, June 18. Price of tin, spot, 41.10 cents per lb. NEW GUINEA GOLD. (By Telegraph—Press Assn.—Copyright.) (Received June 1!), 11.30 a.m.) LONDON, June 18. Sales of gold-mining shnrcs include; New Guinea. 3s 4.] d.