COMMERCIAL

Greymouth Evening Star, 12 April 1933, Page 8

COMMERCIAL

AUSTRALIAN LOANS. [BY CABLE —I’BESS ASSN. —COPYRIGHT.] LONDON, April 11. The time is approaching when the Commonwealth will be able confidently to launch large scale loan conversion in London, says the ’“Evening Standard,” stressing the City’s high opinion of Australia’s recent financial improvement and increased trade. GRAIN AND PRODUCE.

CHRISTCHURCH, April 11. The potato section is occupying practically the whole of the attention in the grain and produce market, and there has been firming in the price of potatoes. There are various contributory causes. It is too early yet to forecast with accuracy the quality and return of the Canterbury crop, as the digging of the main crop has scarcely begun, but the prolonged period of dry weather has certainly reduced the production, which will be lower than at first expected. The effect of the dry weather on the quality and quantity is the subject of some speculation in the market. In addition, the negotiations between the New Zealand and Commonwealth Governments for a trade agreement, and the inclusion in the discussion during the negotiations of the mention of the possible lifting of the Australian embargo on New Zealand potatoes has added interest to the market quotations this week, and certainly partly accounts for the firmness. There is still an absence of North Island business, and no sign of an enquiry in the immediate future. Small quantities have been sent forward on consignment to test the market. Quotations yesterday represented a distinct advance on late rates for prompt delivery. Growers were paid 35/- to 37/6 a ton on trucks, on the basis of 57/6 to £3 a ton f.o.b.s.i. The market was firm at the latter figure late in the afternoon. For April-May-June delivery, the quotation is 67/6 to 70/- f.0.b.5.i., and for July-August-September delivery is SO/- f.o.b.s.i. Offerings are small.

The onion market is slightly firmer with not a great deal of attention being paid to it. It is reported that the quantities sent South this year have been larger than for a long period, but there has been no volume of business with the North Island. The quotation on trucks yesterday, was £2/5/to £2/10/- a ton. In no other section of the market, are there any alterations.

STOCKS AND SHARES. AUCKLAND, April 12. Sales: Golden Dawn 1/7, Nokomai 5/6, Commercial Bank 14/6, Auckland Gas Con. 16/-. Farmers’ Fertiliser 16/4, Blackwater Mines 21/9, Goldsborough Mort. 23/IJ, Wilson’s Cement 32/-, Kempthorne Prosser 63/-, South British 65/-, Colonial Sugar £54 15/-. DUNEDIN, April 12. Sales: Paper Mills 25/6, Gillespies Beach (four) 1/5. Reported: Refrigerating Cont. 3/9, D.I.C. ord. 10/6, Blackwater 21/9, Bank New Zealand 45/-. After call: Paddy’s Point 4/11.

x ALEXANDER MINES. Report for the month of March: — ' No. 3 East Crosscut: This face has been ‘ driven to 61 feet from the main level. ' The country is very solid, no stone of any importance has been passed through. No. 2 Intermediate South: Driving has been continued and the face of the drive is now 25 feet from the winze. The distance driven has been on stone •averaging 24 inches in width. Value 53/4 per ton. The face ! shows stone of an average width of 30 inches with about two feet of solid ■ ore going underfoot. No. 2 Winze, No. .3, Level North: This winze has been 1 started 3G5 feet north of the main I crosscut. A small chamber has been I cut and three feet sunk on stone four feet, in width. The stone is clean and solid with fine gold showing freely at times. New No. 4 Main Crosscut: The position of this face is now 344 feet from surface. The last few feet has been on reef formation carrying boulders of stone up to 12 inches in width. The country is very much disturbed and no definite hanging wall has yet been reached. No. 4 West Crosscut; This crosscut was put out

1 about 20 feet from the end of the main north drive and driven 32 feet e to date. Stone six inches wide was e passed through at five feet from level. Samples were taken which on assay s showed no value. Stoping: Stoping ■' has been carried on over the full length of the block over No. 3 Level. The lode in these stopes is gradually ■> narrowing in size as it is stoped upwards. Surface: A start has been made to make a connection from No. 4 level to the aerial lino to enable stone, underfoot from No. 3 Level to be! . worked. One paddock has been com- . pleted and a start made to lay rails. Battery: 518 tons were sent to the battery and 518 tons crushed, for a re- _ turn of 2200 z 2dwts of melted gold. The cyanide department treated 295 t tons of sand for 78 oz. 6 dwt. of bullion. The total estimated value of these returns is £1,115 (exclusive of , premium on sale of gold abroad, and premium on exchange). WAITAHU COMPANY. The Waitahu Gold Mining Company, Ltd., reports that the fifth call of 6d a share has been made on the contributing shares and is due on April 26. I This makes the total calls, up to 4s a : share, the remaining liability being Is i a share. j