COMMERCIAL

Evening Star, Issue 22572, 13 February 1937, Page 21

COMMERCIAL

DOLLAR AND FRANC Press Association—By Telegraph—Copyright February 12. (Received February 13, at 1.15 p.ra.) The dollar is at 4.89 J. The franc is quoted at 103 3-32. THE SEARCH FOR COLO WEST COAST DREDGES [Per United Press Association.] ORE'S MOUTH, February 12. The Maori Gully dredge return was 340 z 13dwt for 130 hours’ dredging. The Nemona return totalled 240 z for two days’ wash-up in new ground. KING SOLOMON RETURN [Per United Press Association.] INVERCARGILL, February 12. The King Solomon return was 370 z odwt for the week ended to-day. TALISMAN DUBBO RETURN The- Talisman Dubbo Company reports .that 52 tons of ore were treated by the Golden Dawn battery, realising approximately £440. GOLDEN SANDS RETURN The Golden Sands return was 550 z lldwt for 42 shifts of eight hours each.—Greymouth Press Association. MANDATED ALLUVIALS ORE RESERVES AND VALUES. A report by the consulting engineer (Mr E. \V. Bonwick) of Mandated Alluvials, N.L., based on a boring campaign which expored over 800 ft of ground, states that the ore body does not occupy a syneline as was at first supposed, the basin-like structure being due to a well-defined fault which causes the ore body, after a brief existence as a shallow bed, to drop some 70ft, the depressed portion consisting of unpayable sulphides. In addition, developments at the surface northward from No. 7 adit have been disappointing, and have not disclosed any important ore occurrences. This leaves the mine with payable ore only in Nos. 6 and 7 territories, together with the Moresby King mass. The first contains 7‘765 tons of a value of £52,824, with only a small percentage of copper, The latter 6,857 tons ore containing a high percentage of copper, with a value of £27,434. „ . . The report adds that metallurgical tests to determine treatment will proceed forthwith, _ and possible percentage extraction is not yet known. Assuming an 80 per cent, extraction, seeing that treatment may present difficulties, and a total cost_ of £2 10s per ton, there are possibilities of a treatment plant yielding a profit of £27,626. On a h asis of five heads of stamps, 50 tons per dav should be treated, giving the mine a ‘life of 300 days, which will be extended by mining the small lodes north of No. 7 to perhaps 18 months. FRDZEN MEAT TRADE

JANUARY SHIPMENTS TO U.K. The Meat Board is advised by its London office that the shipments from Australia, South America, and South Africa to the United Kingdom during January were as follows: — Australia: 93,403 carcases mutton; 371,125 carcases lamb; 47,789 quarters beef (frozen); 5,373 quarters beef (chilled). South America: 8,800 carcases mutton; 477,869 carcases lamb; 3,485 quarters beef (frozen); 436,697 quarters beef (chilled). South Africa: 7,472 quarters beef (chilled). • _ • , , The shipments from New Zealand to the United Kingdom for the,same period were as follows: 56,276 carcases mutton; 901,989 carcases lamb; 805 quarters beef (frozen) ; 20,538 quarters beef (chilled). CANTERBURY MARKETS [Pee United Pkess Association.] CHRISTCHURCH, February 12. The market for wheat is very quiet indeed, and looks like remaining in this condition until there is some announcement of the intentions of the Government. Buyers are proceeding with the greatest caution, and are buying only immediate requirements from day 'to day. The price remains unaltered. Deliveries of milling wheat from the new crop, are being made with the increasing weight, and the provision of enough trucks has become something of a problem. In general, the sample is excellent, though wheat that is more out of condition than usual has made its appearance. Yields have turned but disappointing. Oats are coming in heavily, and deliveries have eased the market. The quality of the crop this year is better than it has been for some time, and, as the season was ideal for growing oats, yields are reported to be heavy. The small seeds trade remains quiet in the meantime. Onions are weaker, the quotation now being about £8 on trucks with very few inquiries. The main crop has not yet begun to make its appearance. Potatoes are weaker, and the, small amount of forward business being done is on a basis of £3 on trucks, a figure which some growers are prepared to accept. CARLTON BREWERY YEAR'S DIVIDEND INCREASED _ Carlton Brewery Ltd., Melbourne, has declared a final dividend of 6 per cent., making 12 per cent, for the year ended December 31, as against 10 'per cent, in the previous financial year. It is payable on March 1. Carlton and United Breweries Ltd., Melbourne, will pay an interim halfyea rlv dividend to December 31 of Is and a bonus of 3d a share on March 1. The rate is equivalent to 12i per cent, per annum, as against 10 per cent, in the previous year..

HUME ELECTRIC PDWER COMPANY, It was announced to-day that the Hume (Cobb _ River) Electric Power Company, which was floated to provide Nelson province with hydro-elec-tricity, has gone to allotment.—Christchurch Press Association. MEW ZEALAND SHIPPING DIVIDEND Advice has been received by the Dunedin Stock Exchange that the directors of the New Zealand Shipping Co. have declared a final dividend or 3 per cent, on preference and 4 per; cent, on ordinary shares. SELFRIDGE'S. WESTERN AUSTRALIA Advice has been received that Selfridges Ltcl. have agreed to accept applications for rights in the new Western Australian company, provided they are posted to reach Sydney by the first mail after February 18. LONDON MEAT MARKET The Bank of New Zealand has received the following advice from its London office as at clc».e of business yesterday:— Frozen meat: The market for wethers is quiet and unchanged, and, for ewes is steady. Lambs are in short supply until next arrivals. Quotations. —Wethers: Light, 5d to 5Jd; heavy, 4d to 4|d. Ewes; 3fd to 4fcl. Lambs: Twos, 7|d to 7£d; eights, 7|d to Bd;' fours, 7d to 7id; seconds, 7|d to 7Jd.