COMMERCIAL

Greymouth Evening Star, 9 April 1932, Page 2

COMMERCIAL

GRAIN AND PRODUCE [PEB PBESS ASSOCIATION.] CHRISTCHURCH, April 8. The potato market is firm although no quotable alteration in prices has been recorded. A number of sales have taken place at £5 10/- for Apri - May-June delivery. July’s are quoted £6 5/- f.0.b.5.1. and the limit of the market has extended to include a quotation of £7 a ton f.0.b.5.1. for late delivery July-August-September. Theie is little or no North Island enquiry at the moment. Fowl wheat is very firm and prices have advanced. Today’s quotation is 4/8 f.o.b. for prompt and 4/9 to 4/10 f.o.b. for spread. The oats market remains unchanged.

SYDNEY WOOL SALES.

SYDNEY, April 8.

Including this week’s sales, 993,146 bales of fool were sold in Sydney, realising £11,340,000. The total Australian sales to March 31 were 2,203,367 bales, leaving 405,176 bales for succeeding auctions. It is anticipated that the total clip will yield about thirty millions of pounds compared with £27,645,745 last year, and £33,924,062 in the 1929-30 season.

BANK’S DIVIDEND.

LONDON, April 8.

The English, Scottish and- Australian Bank has declared ' an interim dividend of three per cent, tax free.

BUTTER AND CHEESE.

Copy of cablegram received by Dalgety and Company Ltd., from their London Office, dated April 8 — Butter: Market quiet following an active demand. Danish'll6/-'to 118/-, N.Z. Finest 108/- to 110/-, Australian Finest Unsalted 106/- to 108/-, Australian Finest Salted 106/- to 108/-. Australian G.A.Q. 104/. to 106/-. Cheese: Market firm, but less active. N.Z. White 63/-, N.Z. Coloured 64/-, Canadian White and Coloured 68/- to 72/-. BIG RIVER GOLD MINES Report for month ending March 31: No. 2 Adit Level—Northwest Crosscut (going in West) was extended 28 feet (total 203 feet from Adit. At 190 feet a favourable change occurred, and a heavy mineralised formation consisting of a mixture of iron sulphides and quartz veins was passed through for about 4 feet. The country looks promising, and numerous small quartz veins, graphite seams and bunches of mineral (pyrites) have been met with in the last 8 feet of driving. Drive is in new ground and is encouraging. Rise of Jones’ Reef — Advanced to 31 feet about Level, the stone in back, although somewhat smaller, had an average width of 5 feet, and showed a tendency to lengthen towards the South. Work here had to be suspended temporarily until the repairs to shaft are completed, and air pipes can be installed. A south-west drive off northwest Crosscut was advanced on a nice looking lode track a further 15 feet, making a total of 40 feet from crosscut. As the lode track showed no improvement and ground harder, driving was suspended. South Drive: — On ,Jones’ Reef off northwest cross/cut, a main south drive has been opened out on this reef, which has •given favourable results in the rise. 'The lode track is full width of drive, and carries a little quartz and •graphite, 4 feet driven. Main Shaft: —Repair work was carried on below ’No. 1 adit and it was found a good deal of timber required renewing in ■ the vicinity of No. 1 Intermediate Level 136 feet below No. 1 Adit. This portion of the shaft proved more troublesome anticipated. Repairs now being made at about 20 feet above No. 2 Adit level, a total of 400 feet from surface ,and are almost completed. Surface Prospecting: Some work was done on surface outcrops of undeveloped reefs. On the South West Reef a cutting exposed a well defined lead 2 feet wide giving a little fine gold in the dish. Further work should be done at this point. On the North East Reef, which is the continuation of a reef worked further to the south •in the early days, a winze was sunk 9 feet, about 2 feet 6 inches of sugary quartz formation is showing in bottom /and some fair prospects can be got in the dish. Aerial Tramway: All timber work on trestles has been finished and after a few adjustments to sheaves and pulleys the ropeway will be ready for use. Ore Paddock at Mine: Repairs practically completed. Air Compressor: Repairs and adjustments were made to crosshead and steam piston and compressor is now .ready for work.

BLACKWATER MINES. This is the largest gold-producing quartz mine in the South Island. The following table compiled from the official figures published shows the tonnage crushed each mouth, and gold produced calculated at standard values, and also shows the net profit per month. This list covers the last seven months, and includes the results for December and January, which are short months owing to the holidays at Chistmas and New Year: —

The gold production shown as above is based on standard values. During this period, gold has been selling in London from £ 5/9/- to £ 6 per ounce. Coupled with this, an exchange premium of £9/12/6 per cent, is obtainable by the gold producer on the proceeds being remitted from London to New Zealand. Coupling the premium on the sale of gold with the premium cn exchange, means that, at least, an increase of 50 per cent on the value of the gold produced (£523373) during the above period, which represents approximately £26,000 being added to the net profit figures shown, as above.

NEW COMPANIES

South Seas .Fishing Co. Ltd., Regd. as a private company April 2, 1932. Office, Liverpool Chambers, Liverpool Street,. Christchurch. Capital: £lOOO,

in 1000 shares of £1 each. Subscribers: Christchurch—L. B. Scott 200, L. B. Miller 200, J. De P. Manson 300. Lyttelton—A. T. Dowell 300. Objects: 1 o purchase or otherwise acquire and to carry on the business of shipowners, fishers, etc., in all its branches.

Nokomai Gold Mining Co., Ltd, Regd. March 17, 1932.. Capital: £6s’000, in 260,000 shares of 5/- each. Subscribers: Dunedin—G. W. Bowron, H. D Kerr, H. M. Smith, E. J. Roche 1000 each, H. L. Gill, F. Goodwin 1 share each. Waitati—V. H. Milner 1,000. Objects: To take over the business of Nokomai Sluicing Co., and to acquire mining rights, privileges, etc., and mine for gold, silver and other ores and metals.

Waitahu Gold Mining Co. Ltd. Regd. March 30, 1932. Capital: £40,000 in 160,000 shares of 5/- each. Subscribers Dunedin—J. R. Fairbairn, H. Halliday, A. Clark, A. Ellis, J. A. Mathewson, G. W. Bowron, W. A. Mitson 1 share each. Objects: To mine for gold or any other metal, mineral, precious stones, or ore of any kind.

Month. Tons Value gold Profit. 1931. treated. producedSeptember 3869 £7874 £1466 October 4020 £8011 £1350 November 3630 £7716 £1479 December 3292 £6431 £831 1932. January 2621 £6132 £1002 February 3601 £7821 £1419 March 3573 £8352 £1622 £52337 £9169