Commerce, Mining, & Finance

Evening Star, Issue 21821, 10 September 1934, Page 7

Commerce, Mining, & Finance

rabbit market Pres* Association— By Telegraph—Copyright LONDON, September 8. , Rabbits are in fair demand. First large, ex store, 16s 6d and 17s. MEAT MARKET "fPress Association—By Telegraph—Copyright LONDON, September 8. New Zealand Sheep.—Canterbury and North Island selected cross-bred wethers and maiden ewes: 57-641 b, 5Jd per lb. North Island: 48-561 b, 5 3-8 d; 57-641 b, sid; 65-721 b, 5 l-Bd. North Island ewes: tinder 481 b, 4 3-8 d; 48-641 b, 4d; 65-721 b, 3Jd. Australian Sheep. First quality cross-bred and/or merino wethers: 40-651 b, 4 l-8d per lb. Second quality : 30-551 b, 4id. Ewes: 30-551 b, 4d. Argentine Sheep.—First quality crossbred wethers: 48-641 b, 5d per lb; 60-721 b, 4 3-Bd. Patagonian Sheep.—Wethers and/or maiden ewes: Under 501 b, 4Jd per lb; 50-601 b, 4id. . Argentine Lambs. First quality : 361 b and under, 6sd per lb. Second quality: Average about 281 b, 7d. Patagonian Lambs.—First quality: 361 b and under, 6Jd> 37-421 b, 6d. Second qualitv: Average about 301 b, 6Jd. New Zealand Lambs.—Canterbury: First quality—36lb and under, 7Jd per lb; 87-421 b, 6 7-8 d; 43-501 b, 6Jd; second quality, average about 321 b, 61d. Other South Island: 361 b and under, 7 l-8d; 37-421 b, 6 7-8 d; 43-501 b. 6id. Selected North Island, including Downs: 361 b and under, 7 3-8 d; 37-421 b, 6 5-8 d; 43-501 b, 6Jd; second quality, average about 321 b, 6 5-Bd. Other North Island; First quality—36lb and under, 7d; 37421 b, 6Jd; second quality, average about 321 b, 6 3-Bd. Tr . . . Australian Lambs.—Victorian; First quality, 361 b and under, 6Jd per lb; second quality, 361 b and under, 6 l-Bd. Other States: First quality—36lb and under, 61d‘; 37-421 b, 6 l-8d; second quality, 361 b and under.. 6 l-Bd. All States: Third quality, average about 261 b, 6Jd. r * New Zealand Frozen Beef.—Ox fores (160-2201 b), 2id per lb; ox hinds 1602201 b), 34d. , , Australian Frozen Beef.—Os hinds (1601 b and under), 3 5-8 d per lb; ox hinds (over 1601 b), 3sd; ox crops (1001 b and under). 25-8 d; ox crops (over 1001 b).. 2 5-Bd. „ , Argentine Chilled Beef. Ox fores (160-2201 b), 3id per lb; ox hinds (1602201 b), 6-id. .. _ New Zealand Pigs. First quality: 60-801 b. 7 l-8d per lb; 81-lOOlb. 7d; 101-1201 b. 63d. • Australian Pigs.—First quality: 601001 b (average about 801 b), 7d per lb; 101-1201 b, 63d. METAL MARKET ; LONDON, September 7. The following are the official quotations : Copper.—Standard, £27 16s 10Jd; forward, £2B 3s lid per ton. Electrolytic.—Spot, £3l; forward, £3l 5s per ton. Wire bars, £3l 5s per ton. Lead.—Spot, £lO 12s 6d; forward, £lO 13s 9d per ton. _ Spelter.—Spot, £l2 17s 6d; forward, £]2 17s 6d per ton. Tin.—Spot. £228 7$ 6d; forward, £227 11s 3d per ton. „ Pig Iron.—(Home trade, £3 is 6d; export, £3 2s 6d per ton. Antimony.—British, £44 10s; foreign, £3l per ton. Molybdenite, £1 14s 6d per unit. Wolfram, £2 Is 6d per unit. Silver.—Standard, 21 13-16 d; fine, 23 9-16 d per. oz. DAIRY PRODUCE MINIMUM PRICES FOR WEEK The Dairy Board has fixed minimum ' prices for f.o.b. and c.i.f. sales on the basis of butter BJd f.0.b., and cheese 5d f.0.b., these to run till Friday night.— Wellington Press Association. : EMPIRE PRODUCTS •• LONDON MARKET LIKE A SPONGE " Writing in the August number of the ‘ P.L.A. Monthly,’ Mr Alan Bell picks the London market as being like a sponge to absorb all Empire products reaching her. _ “ Every market in the world depends for existence on the customer, but no market in the world has so many customers on the doorstep as London. Within a few miles of the docks the population for New Zealand butter or Australian apples equals the population of Australia and New Zealand. A shower of Empire products falls on London as on a sponge; but at ports in less widely absorbent areas some time may pass before the goods 'melt away. And as was mentioned earlier, the density of London and her neighbour' counties tends since the war to increase wonderfully. This agglomeration of mouths can .quickest be fqd via, the Port of London; and until they are satisfied, the Empire producer need not spy out the farther landscape.

THE SEARCH FOR GOLD BRIAN BORU DREDGE ■ [Pek United Peebs Association.] GREYMOUTH, September 9. The Brian Bom dredge returned 20oz 7dwt for 123 hours’ dredging.— Press Association. BELL-HOOPER RETURN The Bell-Hooper Cromwell Gold Ltd. return from the No. 1 unit only was 9oz Idwt 4gr for the week ended September 7. GOLDEN SANDS COMPANY The Golden Sands Company advises that cutting through tailing has now been completed and the past week was spent draining the water which had accumulated in the approach to the face. Therefore there was no wash-up for the past fortnight, but it is anticipated that regular sluicing wll bo resumed this week.— Christchurch Press Association. OXENBRIDGE SHOTOVER F ‘ The directors of Oxenbridge Shotover Gold Ltd. announced that there were applications totalling £3,000 for the £1,500 debenture issue recently offered by the company. They state that this is a gratifying indication of the confidence of the shareholders in the future of the company. GOLCONDA MINES On September 1 the manager at Golconda Mines Ltd. reported;--' , The drive on the reef was advanced to 192 ft from the shaft. The reef is well mineralised, and we are following the hanging wall. We have to keep the drive timbered right up to' the face, as there is a fair amount of seepage coming from the_ footwall side. A fair amount of repairs had to be carried out in the main level, BLACKWATER REPORT The Blackwater Mines return for August is as follows: — Crushed 4,000 tons, yielding 1,897 fine ounces gold. Value, at 138 s per oz, £13,092. Working costs £6,161. Working profit £6,931. Development expenditure £664, capital expenditure £1,025. , , Development No. ,10 level advanced 46ft on fault line, No. 11 advanced 98ft. Reef average value 6.75dwt, width 22in. No. 12—Advanced 27ft, reef averaging 22in, value 12dwt. Prohibition shaft—Sinking proceeding. Fair progress made with aerial ropeway. / TALISMAN DUBBO MINES Talisman Dubbo Mines' advised the Dunedin Stock Exchange this morning that 5Qi wet tons of ore, equal to 48 dry tons, were treated for an actual realisation of £250 on 85 per cent, extraction. MOTUROA OIL FIELDS The following report for five weeks ,lias been received to-day from Moturoa Oil Fields Limited, New Plymouth : Moturoa No. 4 well produced 6,265 imperial gallons of crude oil; total production to date, 30,570 imp. gallons. Moturoa No. 2 well produced 11,655 imperial gallons of crude oil; total production to date, 559,619 imperial gallons. MAHAKIPAWA REPORT

The following is tho latest Mahakipawa report:—The leading face was driven a further 16ft for the period, through wash of a sandy nature, containing large slabs of schist bottom. The bottom rock is hard and now extends 2ft 6in up tho face. The blocking strip parallel to the leading face and to the east of it has been .advanced 18ft. This has followed the crevice which yielded so much gold last week, but at present the wash is poor. It would appear as if the gold had been concentrated in a crack in the schist bottom, so that a poorer portion above the natural ripple is to be expected. The prospecting drive (north-west) has been extended a further 29ft, and is now approximately within 150 ft of the No. 2 shaft. The bottom has been rising gradually all the way, in spite of the fact that this is headed downstream. The face is showing four feet of soft bottom, on which is lying goodlooking blue wash. No. 2 shaft: Progress has been slow on account of repeated pump troubles causing considerable loss of time. The depth to which the ground has been taken out the full size of the new'shaft is 71ft. We have had to cut all the bolts in the columns of the old Cornish pumps to effect their removal, as they have become silted in by surface wash which has fallen down the shaft completely filling the two pump compartments of the old_ shaft, and causing further loss of time. New pumping shaft (Old Golden Gate): Most of the timber for the headgear from which will be suspended the pump for unwatering this shaft has been delivered, and a start made with the erection, which will be completed in readiness for connecting up with tho old Golden' Gate workings.

AUSTRALIAN ORANGES REPORT CONTRADICTED Press Association—By Telegraph—Copyright. ADELAIDE, September 10. (Received September 10, at 9.30 a.m.) The secretary of the Murray Citrus Growers’ Co-operaiive Association (Mr N. Underwood) said that tiie Australian oranges were not being marketed in New Zealand at excessive prices. Mr Underwood was replying to a statement reported to have been made by the Australian Trade Commissioner in New Zealand (Mr Nesbitt), in Wellington, that oranges could be purchased in Australia at one-tenth of the price charged in New Zealand. GOLD STANDARD NATIONS FIVE MAJOR POWERS REMAIN

The apparent movement toward a standard measure of currency values lends interest to the fact that comparatively few important countries have remained on the gold standard. Two only —Switzerland and Holland—have retained their currency on a par with their pre-war gold standard, while France, Italy, and Belgium, while still mi the gold standard, have effected a reduction from the pre-war level. Germany also maintains her currency with gold as the basis. In addition, a number of less important nations, notably the Eastern Baltic group, Poland and Czechslovakia, are still nominally on the gold standard. The countries that have abandoned the gold standard are given below in the order of the time at which their currencies first depreciated in terms of gold:—Uruguay, April, 1929; Argentina, November, 1929: Brazil, December, 1929; Australia, March, 1930; New Zealand, April, 1930; Venezuela, September, 1930; Mexico, August, 1931; United Kingdom, Canada, India, Sweden, Denmark, Norway, Egypt, Irish Free State, British Malaya, Palestine, September, 1931; Austria, Portugal, Finland, Bolivia, Salvador, October, 1931; Japan, December, 1931; Colombia, Nicaragua, Costa Rica, January, 1932; Greece, Chile, April, 1932; Peru, May, 1932; Ecuador, Siam, June, 1932; Yugoslavia, July, 1933; Union of South Africa, January, 1933; Honduras and United States, April, 1933. HIDES MARKET Press Association—By Telegraph—Copyright LONDON, September 8. The hides market is lifeless. Meat works (drysalted)—Queensland, 351 bto 451 b, 43d; 301 bto 401 b, 4Sd; 251 b to 351 b, 4|d; 201 b to . 301 b, 4§d; New South Wales-—5Jd, 5Jd, sJd> s£d. Wetsalted—Queensland, 501 bto 601 b, 3id; 401 bto 501 b, 3Jd; New South Wales 33d, 33d; Vfbtorian abattoirs, 3jd, 3*d. EXPORT OF ERGS Arrangements for export of eggs during the present season are again in the hands of provincial export committees at Auckland, Wellington, Christchurch, and Dunedin, with a central committee in Wellington. From information received by the New Zealand Poultry Board it is evident that British importers anticipate that prices during the coming winter, when New Zealand eggs will arrive, will be approximately on a par with last season’s winter prices. So far chambers for eggs have been secured in three ships at various ports at intervals between August 31 and October 12, with space for 4,550 crates of thirty dozen each (130,600 dozen eggs), which has been tentatively allotted as follows :—Anckland, 1,650 crates; Wellington, 500; Canterbury, 1,400; and Otago 1,000. Eggs exported from New Zealand are carried as nearly as possible at an average temperature of 34 degrees, and reports from London regarding last season’s shipments state that the eggs arrived in excellent condition. SYDNEY STOCK EXCHANGE Press Association —By Telegraph—Copyright SYDNEY, Sptember 8. The early sales on the Exchange today were as follow : Bonds: 3J per cent. (1948), £102; 4 per cent. (1957), £IOB 7s 6d. Bank of New South Wales, £32 2s 6d; Australian Gas (A), £7 18s; Toorey’s, 28s fid; Anthony Hordern, 14s 6d (pref., 23s 6d) ; Associated News (pref.), 23s 6d; British Tobacco, 37s 10}d; Colonial Sugar, £66 12s 6d; Dunlop Perdriau, 20s 6d ; James Stodman, 15s 7{d; Wilcox, Mofflin, 12s lOd.