MINING NEWS

Evening Post, Volume CXXV, Issue 149, 27 June 1938, Page 14

MINING NEWS

REPORTS AND RETURNS Big River Gold Mines reports for the week ended June 23:—No. 5 level: Stopes were worked only one shift per day, owing to further labour not being available. North drive: Was not ad-, vanced during week owing to shortage of labour. Shaft: The No. 6 chamber practically cleared out and opening out set placed in position. Sump sft below No. 6 level has been timbered. Sent to battery, 40 tons of stone. WORKSOP EXTENDED. Worksop Extended Gold Dredging Go. return for week ended June 23 was 930z for 134 hours and 12.000 yards. GOLDEN POINT MINE. The mine manager at Macrae's Flat reports thab the clearing out of the drives to the main faces is now nearing completion, and practically full shifts should then be worked. It is expected that this will be possible in another fortnight A clean-up this week from 34 tons put through the mill returned 16Joz of gold from the amalgamation plates, a previous cleanup returning 13Joz from 28 tons. These returns show that the ore is producing just on lOdwt" to the ton off the plates. Another five tons of concentrates, the average assay of which is about sjoz to the ton, will be shipped to Sydney shortly for treatment. KOMATA REEFS. The New Zealand registrar of Komata Reefs Gold Mining Company, Ltd., Mr. J. 11. G. Banks, has been advised by cablegram from London that a final dividend has been declared of 3d a share, free of tax, on account of the year ended March 31, 1938, payable on July 12. The distribution for the year is 6d a share of 2s, equal to 25 per cent., unchanged. DUNEDIN, June 25. Gillespie's Beach wash-up was 440z 7dwt for 116 hours from 12,320 yards treated. • GREYMOUTH, June 25. Golden Sands return was 240z 12dwt for 36 shifts. MURCHISON, June 25. Mataki Junction return was 4ooz of smelted gold for 131 hours from 21,000 yards dredged. PRICE AND RETURN Latest sales reported and made on the Stock Exchanges of the Dominion, with the highest prices and the approximate yelds per cent, per annum to.investors (all subject to appropriate taxes and exchanges where operative), based on last year's distributions, and considering redemption and brokerage in the case of redeemable securities where dated, were as follows: — <. .. '«/,,, Highest Yield price.-' p.c., p.a, £ B.d. £ S.d. Wellington. Inscr.--Stock, 3% p.c., J953-57 a. 97 5 0 — InScr." Stock, 3H p.c., 3/1939-43 a. 100 7 6 3 10- 0 Broken Hill Pty. .... 3 0 0 4 3 4 Woolworths Ltd 1 0 6 313 2 Mount Morgan 0 9 9 — Auckland. Comm. Bank of Aust. •(pref.) u. 9 4 3 4 010 Bank of N.Z 2 3 3 412 5 Dominion Investments 018 3 5 9 7 Sth. British Insurance 2 6 9 218 9 Kauri Timber 11 6 619 6 British Tobacco 2 7 0 4 5 1 Broken ■ Hill Pty 2 if) 0 4 4 8 K.D.V. Boxes (contr.) 0, 3 0 — Taranaki Oil 0 14 9 — Motmt Morgan 0,,9 9 — J&ifi-v* Chrlstchurch. Inscr/ Stock, 3% p.c., : 1953-57 a. 97 ''5 0 — (lOspd.).. 0' 8 5 610 5 Westport . , Stockton ''Coal ....: 0 3 8 — N.Z. Breweries ...... 2.1 3 4 2 S Australian Iron (and Steel (pref.) 1 7 6 444 Broken Hill Pty. .... 219 1 4 4 7 Dunlop-Perdriau ..... 1.0 6 616 7 Taranaki Oil J?;.. 014 7 — Woolworths Ltd .... 1 0 6 313 2 Broken Hill South .. 111 1 — Jfount Lyell ; 16 9 — Mount Morgan • 0 9 8% — Skippers Ltd. 0 0 1 — Dunedln. Inscr. Stock, 3% p.c., n W3B-5S a. 101: 5 0 3 9 0 Sth. British Insurance 2 6 9 218 9 Taranaki Oil 0 14 0 — Woolworths Properties (10s pd.) 0 13 5 — a. Market price includes accrued interest but- not brokerage.. u.—ln Australian currency.' FOREIGN"IxCHANGES Closing direct rates as . quoted by the Bank of New South Wales, Wellington, today for buying and selling foreign currencies based on New Zealand currency, were as follows:— Buying. Selling. London—£N.Z. to £ stg. ®B"4® 8 - d--100. T.T. 124 0 0 124 10 0 « ' „ O-D. 123 10 0 124 8 9 Australia— £A. to £N.Z. I°° •• • • T.T. and O.D. 101 0 0 100 10 0 Fiji—£F. to £N.Z. 100. T.T. and O.D. 90 7 S 89 0 0 New York—Dols. to £ N-Z. 1. T.T. 4.0120 3.9774 „ , O.D. 4.0220 3.9814 Montreal—Dola. to £N.Z. 1 T.T. 4.0500 4^0175 „, , „ , O.D. 4.0820 4.0215 Belulum—Belgas to £ N.Zr 1 T.T. 23:663 23.353 _ i. , ~ O.D. 23.738 23,364 Czechoslovakia—Koruna3 to £N.Z. 1. ..j T.T. — 113.77 O.D. — 113.32 Denmark—Kroner to £ N.Z. 1 ..T.T. 18.203 17.893 , r O-D. 18.263 17.899 Finland—Marks to £ N.Z. 1 T.T. 185.35 179.55 O.D. 185.75 179.65 France—Francs to £ N.Z. 1 T.T. — 141.19 O.D. — 141.23 Germany—Relchsmarks to £N.Z. 1 T.T. — 9.817 O.D. — 9.822 Greece—Drachmae to £ N.Z. 1 T.T. — : 429.54 O.D. — 429.84 Holland—Florins to £ N.Z. 1, T.T. 7.298 7.148 O.D. 7.338 '7.152 Italy—lire to £N.Z. 1. T.T. — 75.56 . O.D. — 75.61 Java—Florins to £N.Z. 1. ;... T.T. 7.275 7.125 O.D. 7.315 7.120 Norway—Kroner to £ N.Z. 1 T.T. 16.182 15.892 O.D. 10.242 15.898 Noumea—Francs to £ N.Z. 1 T.T. — • 139.94 O.l). — 139.98 Papeete—Francs to £ N.Z. 1 T.T. — 139.99 O.D. — 140.03 Sweden—Kronor to £ N.Z. 1 T.T. 15.785 15.490 O.D. 15.845 15.496 Switzerland—Francs to £N.Z. 1 ...... T.T. .17.536 17.266 O.D. 17.641 17.271 Chefoo—N.Z. pence to 1 dollar T.T. — 12% O.D. — 12 15-64 Hong Kong—N.Z. pence to 1 dollar T.T. 18 3-8 18% O.D. 1811-32 18% India and Ceylon—N.Z. pence to 1 rupee. T.T. 21 31-32 22' A O.D. 21 15-16 22% Japan—N.Z. pence to 1 yen T.T. — 17 33-64 O.D. — 17 33-84 Manila—N.Z. pence to 1 peso T.T. 29 21-32 30 5-32 O.D. 29 9-16 30 5-32 Shanghai—N.Z. pence to 1 dollar T.T. — 115-8 O.D. — 115-8 Singapore—N.Z. pence to 1 dollar T.T. 34 13-32 34 57-64 O.D. 34 5-1B 34 57-64 The £1 is £1 in New Zealand currency. The rates are subject to alteration without notice. Based on the figures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original par value, is equivalent to approximately 16s Id in London, £1 Os Id in Australia, 16s 4}d in U.S.A., 16s 6d in Canada, £1 2s BJd in France, 16s 4Jd in Italy, 9s 7|d in Germany, lis 9Jd in Java, £1 8s 03d in Japan.