METAL PRODUCTION

Evening Star, Issue 23324, 21 July 1939, Page 12

METAL PRODUCTION

MOUNT LYELLS RETURNS NINE MONTHS' FIGURES REVIEWED YEAR'S OUTPUT OF ELECTROLYTIC ZINC ; Production of cathode copper by Mount Lyell Mining and Railway Company . Limited in the nine months ended June 30 shows an increase of 436 tons on that for the first nine mouths of the 1937-38 year. Ore treated in the period increased by more than 80,000 tons, compared with that for the corresponding three quarters of the preceding year, and the copper content of the blister produced was greater by . 647 tons - There was a fall of 4,4040 zin the silver content of the blister, but the gold content was greater by 3250 z. That the increase in the tonnage of ore treated by the company has checked thfe decline in copper production due to lower-grade. ore is reflected ,in the following table, in which leading outptit figures for the first nine mouths of the current financial year ending on September 30, are compared with those for the corresponding periods of the two preceding years--9 Months Ended June 30— 1037 10*10 Or* milled, tons ... 624,140 748,050 828.791 Blister copper, coil* taming— Copper, tons 9,111 8,084 9,331 Silver 07. 65,856 49,995 45,591 Gold, o? ...... 4,760 5,007 5,333 Cathode copper, tons ... 10,208 9,093 9,529 ELECTROLYTIC ZINC. Production of zinc at the Risdon (T.) works of Electrolytic Zinc Company of Australasia Limited in the year ended June 30; was maintained at a level slightly in excess of that of the preceding year. Lead and silver contents of silver-lead product shipped to Port Pirie for realisation also increased slightly. Hereunder is'compared output or the Risdon works for the last three financial years:— Year Ended June 30— 1937. 1938. 1939. Zinc, tons 70,082 69,718 69,825 Lead, tons 2,266 2,772 2,873 Silver. on 389,480 860,450 437,550 POWER BOARD LOAN ISSUE FULLY SUBSCRIBED (P*» limited Press Association.) AUCKLAND, July 20. The' £290,000 loan of the, Auckland Electric Power Board was totally subscribed to-day. Applications for a considerable amount had to bo- declined by the. board in accordance with its previous decision not to accept any more once the £290,000 mark had been reached. The debentures bear interest at 4>} per cent, with a 20-year term. “There is not the slightest doubt that the way the issue has been taken up_ is most satisfactory to the board.” said the general manager, Mr R. H. Bartley. “It is very clear evidence of the confidence that the lending public must hare.in this organisation.” BUTTER AND CHEESE Pres* Association—By Telegraph—Copyrigir. LONDON, July 20. (Received July 21, at 11 a.m.) Butter is slow. Danish, 130 s; choicest salted and uusalted New Zealand, 124 s;. Australian, 114 s. , Cheese is quiet. New Zealand—white 635, coloured 65s ; Australian—white 60s. coloured C2s. BRADFORD MARKET Press Asiuciation—By Telegraph— Copyright, LONDON, July 20. (Received July 21, at 11 a.m.) The Bradford tops market is firm for all qualities. A full output is wanted for immediate consumption. Spinners • are busy with military and civilian requirements. Quotations :—Merinos—7o’s 2Sd, 64’s 26Jd, 60’s 25Jd; eross-breds—sß’s 23d, 56’s, 50’s, 46’s, and 44’s all unquoted. THE CHINESE DOLLAR CLOSES AT 4^o Pres« Association— By Telegraph—Copyrijin SHANGHAI, July 30. (Received July 21. at 8 a.m.) The Chinese dollar dosed at 4Jd.

TREND EASIER

SPOT SILVER STILL RECOVERING ELECTROLYTIC COPPER DOWN 10/Trass Association— Hy Telegraph—Copyriglu LONDON, July 20. (Received July 21, at Ip.m.) Following are the latest official (middle) quotations on the London metal market, as reported by the Australian Mines and Metal Association, compared with those of July 19

NEW YORK SHARE MARKET DOW JONES AVERAGES

July 19. July 80. £ s. d. £ ». d. Copper— Standard, spot ... 42 13 ■ U '42 14 44 Forward ... ... 43 4 4 43 0 74 Electrolytic, spot 49 0 O' 48 10 O' Forward 49 10 C 49 5 0 Wire Bars— Spot 49 10 0 49 5 0 LeadSpot ... 14 16 10* 14 18 1 i 14 15 0 Forward 14 17 6 Spelter— Spot 14 3 9 14 0 74 Forward ... ... 14 8 li 14 18 9 Tin— Spot ... 229 18 9 229 18 9 Forward 225 3 9 224 16 3 SilverStandard, per oi 16 3-4d 16 13-16d Fine, per oz 18 l-16d 18 l-8d

—Base, 1926= 100.Sales 20 Rail30 Indus 1,000 roads. trials. Shares. April 1 ... ... 27.24 132.83 1,500 ifey 1 25.67 , 127.83 280 June 1 ... ... 27.95 136.20 600 June 12 27.95 139.15 420 June 13 27.81 138.20 530 June 14 ... ... 27.73 137.50 400 June 15 27.14 134.41 980 June 18 27.25 135.31 170 June 19 27.33 136.40 340 June 20 27.68 157.57 480 June 21 27.66 137.61 470 June 22 ■ ... ... 27.56 136.88 450 June 24 . 27.76 137.36 190 June 26 ... ... 27.27 135.09 500 June 2/ 27.44 135.42 480 June 28 ... ... 26.82 132.84 540 June 29 25.99 130.05 820 July 3 26.17 131.93 240 July , 5 26.67 133,68 350 July 6 ... ... 26.70 133.58 410 July 8 ... ... 26.66 132.24 110 July. 10 26.70 135.79 280 July 11 27.00 134.56 420 July 12 27.61 136.98 910 July 13 27.84 138.03 950 July 17 29.14 142.58 1,750 July 18 29.53 143.76 1.980 July 19 29.14 142.64 1,020 July 20 29.08 141.24 810