Untitled

Evening Star, Issue 21009, 25 January 1932, Page 7

y GOLDEN DAWN GOLD MINES. The following is the mine report from the Golden Dawn Gold Mines Ltd., for the two weeks ended January 16,—“1- the stopes on No. 1| Reef above No. 3 Level four machines have been working two shifts break* ing ore and filling for the stopes 1 , The reef averages three feet wide _ and looks verv well and by assay is of good value In the stopes on No. 3 Reef abrvo No 3 Level three machines have been at work two shifts breaking’ ore and filling for 1 the stopes. The reef here also averages three feet wide and I Iso look well. All the ore broken ' in both reefs is sent to the battery/. Crosscut East from No. 2 Level has been extended thirteen-feet, a'total of seventy-two feet. For the last four feet of driving we passed # through three small branches carrying very * fair value. The main lode should be at hand at any time."

OKARITO RETURN. The secretary of the Okarito Five Mile Beach Gold Dredgmg Company advises that for the week ending January 23, a total of 740 z of gold was returned for a dredging time of 128 hours. PLACER DEVELOPMENT. Placer Development Ltd., reports that an option on satisfactory terms has been taken over a large area at the Widubosh, adjoining the Bulowab property, below, the junction of the Watut and Buklo Rivers. Prospecting of thi; ne area will commence: at an early date. ' THE POUND STERLING. Sterling is a word that has been and is more likely in the future to be heard on every side, writes G. G. C. Christie, LL.B., in the ‘Sydney Morning Hewild.’ Most people think of the £ sterling literally as the milled gold coin with the sovereign’s head and 4 standard of wealth and respectability.' The word was .originally connected with silvei and not gold, but its origin is not cleaj. According to the best authorities, the word is either derived from tHe star which comhionly wa» impressed upon the earliest Saxon pennies, or from the starlings (foup in number) which were stamped upon the coins of Edwa> d the Confessor, Over the course of. years coinage became stabilised and... the' penny evolved as a coin containing a fixed weight of silver. A law was passed in the yeat 1280 fixing the contents, :of a penny at twenty-four grains of silver and that 240 pennies should b» coined from one pound of silver. Aa late as the eighteenth century a popnd was, a pound of silver sterlifag. Henry VI. issued the first English gold coins, and he declared them provisionally equal to 20s, and to be King’s money bearing the name “ souverayne.’* There was no connection between these coins and silver standard, It was not until well into the nineteenth century that a fixed gold content was given to sovereigns (pounds), and ifi was not till 1875 that a gold standard was adopted. , BREWERY PROFITS FALL, Profits of Carlton and United Breweries, Melbourne; Ltd., for tha year elided June 30, 1931, show a very sharp fall in comparison with those of recent years, and are £91j403 less than,the profits f0r,1930. The net profit gives a yield on shareholders’rsnds of 7.2 ‘ per cent. as. compared with 9.39 per cent, earned in 1930,and 12.9 per cent, earned in 1929.. The fall in,profits has made necessary a reduction, in the rate of dividends paid. Cumulative preference shares participate to the full'extent. In ordinary dividends the rate of dividend for the year June 30,' 1931, is 11$ pap cent., compared with 15 per cent, foi; 1930, and 17$ per cent, in 1929.

THE MEAT MARKET,

Press Association—By Telegraph—Copyright,

LONDON, January 23. Frozen Meat.—New Zealand: Can* terbury and North Island selected cross-bred wethers apd/; maiden ewes* 481 b to 561 b, 3£d; ditto North Island* 571 b to 641 b, 3|d; ditto ewes, '6slb to 721 b; 2Jd. Australian sheep, second quality cross-bred and/or merino wethers, 301 b to 551 b, 3|d. ‘ Argentine sheep, first quality cross-bred wethers* 481 b to 641 b, 3|d; ditto, 1 651 b-to 721b* ,

BJd. ' , v ' ’ New Zealand Lambs.—Canterbury: 361 b and under, 6d j ditto, selected North Island brands (including Downs)* 361 b and under, 6Jd; other North Is-, land brands, first quality, 361 b arid under, 6d. Australian lambs: Victorian* first quality, 361 b and under, sidj ditto second quality, 361 b and under* 4|d; all. States, third quality, 5Jd. Argentine lambs, first quality, 431 h td 501 b, Si-d. ■ . Australian frozen beef. —Ox hinds* over 1601 b, 3Jd. .Argentine Chilled Beef.—Ox- fores* 1601 b to . 2201 b, 2|d; ditto ox hinds* 1601 b to 2201 b, 4|d. New Zealand Pigs.—First quality* 601 b to HOlb (average 901 b), sd. Australian Pigs.—First quality, 601$ to 1101 b (average 90lb), sd; others are unchanged. ’ COTTON, RUBBER, ETC* * ■ • Press Association—By Telegraph—Copyright* ‘ LONDON, January 23. Friday’s closing prices were as. fol* low:; — • , , , Cotton : February, 3.20 d per lb. Rubber: Para, 4Jd; plantation' smoked, 3d. . Jute: February-March, £l9 7s 6d* £l9 10s. * ' , . Copra: February-March South Sea* £l4 15s; plantation Rabaul, £ls. Linseed oil, £ls. Turpentine, 525. THE WHEAT MARKET. Press Association —By Telegraph—Copyright* LONDON, January 23. Wheat cargoes are steady _at late rates, excepting Plates, which have taken a turn upwards. The_ Oriental demand continues for Australian quali* ties. Parcels are steady. Futures— London: February, 24s Id; JTune, 24a 9d. Liverpool: March, sJd;‘May, 5a 4Jd; July, 5s 6|d. DAIRY PRODUCE. The New Zealand Loan and Mercan* tile Agency Company Ltd. has received the following cablegram from its Lon* don house, under date the 23rd inst.:l —Butter, 96s to 975. : Cheese, 57s toj 58s. The markets are firmer.