COMMERCIAL

Greymouth Evening Star, 6 December 1929, Page 8

COMMERCIAL

ALEXANDER MINES. Report for the month of November. No 2 Winze, McKay Reef—Sunk four feet, making a total depth of 27 feet from the surface. Value £3 15/ tor a width of 33 inches, with no defined hanging wall. Owing to the heavy rainfall this month sinking was much hindered by surface soakage and worK here has been temporarily suspended. McKay Crosscut. —The men from the winze were transferred to this, cross cut, which was advanced five feet, mak-, ing a total of 146 feet from the entrance. We are .just entering on softer ground which is slightly mineralised, and has a few narrow quartz seams. ( This may prove to be the footwall ot the reef followed by No. 1 winze No. 1 Mullocky Creek Drive.—Work here has been resumed and at 26 feet back from the south face we are crosscutting to the east. We have advanced nine feet’ from the drive m hard rock, through which thin silica seams are passing. . No. 2 Mullocky Creek Drive—This shows a progress of 15 feet making a total of 133 feet from the crosscut. A well defined wall continued adjacent to which the quartz seam has widened out to twelve inches. So far no values have been disclosed in assay samples. No. 1 Level McVicar Block—This level has been advanced 22 feet, making a total of 41 feet south of the entrance crosscut. For the first 15 feet the reef formation was mostly quartz and assayed 51/- over a width of 36 inches. For the last seven feet the formation is not so wide and has turned easterly into the hill.

Bull Block Rise. —We have resumed work in No. 1 Level and have extended the existing rise some 21 feet, making a total of 47 feet from the level. At 42 feet up a dark clay seam was cut ,and we are now following this. The aerial and ground tramways to this block have just been completed, and we have delivered some five tons surface quartz to the battery. McVicar Block. —Stoping above Nos. 1 and 2 Levels has been continued during the month.

Battery.—The mill ran 329 hours during twenty-three working days, crushing 289 tons for a return by amalgamation of 2630 z lldwt of gold. The cyanide plant treated 181 tons, of sand and returned 105 oz 4dwts of gold. The total estimated value of this return is £1315. BLACKWATER MINES. Return for November:- —Crushed 3200 tons, yielding 1315 fine ozs gold, valued at £5584, working expenses, £4815. In addition the furnace treated 101 tons concentrates for a return of 110 fine ozs gold valued at £467, working expenses £136. Capital expenditure, £145. Development expenditure £602. Profit over all is £353. DAIRY PRODUCE. Dalgety and Company, Ltd., have received the following market advice from their head office, London, under date of December 2 : Butter: Market weak. New Zealand finest. salted 164/- to 168/- (166/to 170/-) ; Australian finest salted 162/to 166/- (164/- to 168/-). Cheese: Market slow. New Zealand cheese white 93/- to 94/- (94/- to 95/-), coloured 91/- to 92/- (92/- to 93/-).

WELLINGTON WOOL SALES. I WELLINGTON, December 6. The Wellington December wool sales, limited to 27,000 bales, is proceeding. Prices are down on the November rates, the fall in most lines being a penny. Coarse wools are least, affected. Many lots failed to reach the reserve. The buyers, of whom there was a representative bench, appeared to want wool, but were not able to pay the price. The wool was not so good as that at December last season. Mr Moodie, Chairman of the Wellington Woolbrokers, said the tone of the market was anything but bright. The fall was heavier than anticipated. He remarked that the offering was rather disappointing, the wool being thin of colour and badly grown. The quantity of super wools which was generally a feature of the December sale was very, limited, but when any good line came before the buyers, sound prices were obtained, a number being secured for the States. The trade demand • for coarser styles of crossbred was comparatively good. Very limited inquiry for merino, and a low range of prices offering. As the sale proceeded, Bradford was in the -market taking fair quantities.-German buyers also were operating fairly freely.

STOCKS AND SHARES. AUCKLAND, December 6. : Wailii 13/8, British Tobacco 45/3. Reported : Pukemiro 73/6. WELLINGTON, December 6. Reported sale : Commercial Bank of Australia (ord) 26/6. DUNEDIN, December 6. Sales on ’Change, Kildare 1/10 (two). Reported late yesterday: Pukemiro 73/6, Brewery Debs., 28/-. GRAIN AND PRODUCE. MELBOURNE, December 6. Wheat 5/41, flour £l2/15/- and £l3, bran £7/15/-, pollard £B/15/-, oats 3/6 to 3/7, barley (English) 4/-, maize 5/11 to 6/-.