COMMERCIAL

Greymouth Evening Star, 17 August 1933, Page 8

COMMERCIAL

ADDINGTON MARKET SHEEP VALUES HIGHER [PEB PRESS ASSOCIATION,] CHRISTCHURCH, August 16. Values for fat and store sheep at Addington, to-day, were distinctly better than at the last sale a fortnight ago. Fat cattle sold irregularly at little change in values. Store Sheep: A keen sale for ewes which were better by 1/6 to 2/- a head for good young ewes. Hoggets showed little change. Good two-tooth ewes 17/- to 20/-, good s.m. 14/-, 16/6, ordinary 6-tooth to 12/-, good to 16/sound and failing mouth 10/- to 12/-, good =1 bred ewe hoggets to 15/9, memedium wether 9/6 to 10/9, ordinary to 8/6.'

Fat Sheep: small entry which included several outstanding lines of sheep from south of Rangitata. Values were better than at last sale by 2/6 for light sheep and 2/- for medium and heavy. Extra prime heavy wethers to 34/10, prime heavy 26/- to 28/G, medium weight prime 23/- to 25/6, ordinary 20/- to 22/6, light 17/- to 19/6, oxtra prime heavy ewes to 29/10, prime heavy 22/- to 25/-, medium weight prime 19/- to 21/6, ordinary 15/6 to 18/6, light 12/- to 15/-, extra prime hoggets to 23/4, prime 19/6 to 21/-, medium 17/6 to 19/-, light 15/6 to 17/-.

Fat Cattle: About 500 yarded. Some exceptionally good drafts of Poverty Ray and Southland cattle were forward. Good beef made 22/- to 24/- per 100 lbs., special young beef to 26/-, heavy 18/- to 21/-, medium 16/- to IS/-, inferior down to 12/6. Extra heavy prime steers to £l3/7/6, prime heavy £9/5/- to £11; medium weight prime £8 to £lO, ordinary £5/15/- to £7/ 15/-, light to £5/10/-, extra prime heifers to £9/17/6, prime £6/5/- to £B/5/-, ordinary £4/5/- to £6, light to £4, extra prime cows to £9, prime £5/15/- to £7/10/-, ordinary £3/15/to £5/10/-, aged to £3/15/-. Fat Pigs. A medium entry in the fat pigs section and a fair demand, baconers being a little firmer. Choppers 40/to £4/6/-, baconers 36/4 to £3/6/-,. average price per lb. 4d to 4Jd. Porkers 2< /- to 33/6, average price 4d to 4?.d. STOCKS AND SHARES. WELLINGTON, August 17. Reported sales: Four per cent. Govt. Stock, 1955, £lOO/15/-. Bank of New Zealand 49/6. DUNEDIN, August 17. Sales: Southland Frozen Meat ord. 41-, Bell Hooper Bd. Late yesterday. Bank of Wales £33 10s, Paper Mills 27/6. After call, Okarito 11/11, Gillespie’s Beach 1/111. CHRISTCHURCH, August 17. Sales on ’Change: Government 4 per cent, bonds. 1946, £lOO/10/-; National Bank of Australasia. (£lO paid) £l3 2/-, N.Z. Refrig. (10/- paid) 7/- (3), N.Z. Breweries 35/- (4), 34/11; Beath and Co. (1/- paid) 5/9, Howard Smith 9/11, Central Shotover (9d paid) 1/1, Golden Point 2d, Waitahu (5/- paid) 7/5. AUCKLAND, August 17. Sales: King Solomon 2/-; Gillespies Beach 2/1, Taranaki Oil 2/3. Grand Junction 3/8, Okarito 11/10, Mt. Lyell 21/9, 21/8; Waihi 24/9, Paper Mills 27/6; Breweries 35/-, Queensland Insurance 56/3, South British 70/-; National Bank Asia. £l3/2/-; Stock 1946 £lOO/2/6 and par. WELLINGTON WOOLLEN CO. WELLINGTON, August 17. The annual meeting of the Wellington Woollen Coy. was held to-day. A recommendation of the payment of a dividend of 5 iper cent, was agreed to. Messrs. Alfred Smith and A. E. Mabin were re-elected directors. Kember and Son and E. W. Hunt were reappointed auditors. GEAR MEAT CO. WELLINGTON, August 16. An extraordinary meeting of the Gear Company, resolved to reduce capital from £460,000 divided into fully paid £1 shares, to £230,000 divided into fully paid 10/- shares, returning to shareholders the equivalent of 10/- per share, by transferring Government inscribed stock. TO-DAY’S MINING MARKET. Lawson’s Flat, buyers 7£d, sellers 1/1; Alexanders (cont.) 22/ —23/5; Nokomai 3/6—3/9; Charleston 1/10— 1/111; Mining House Concessions 2d. —4d.; Blackwaters 33/3, — , Gillespies Beach l/lli-2/-; Waitahu 7/4 — 7/6; Okarito 12/ —12/3; Brian Born 19/4—22/3. SNOWY RIVER SLUICING CO.

Three directors of the Snowy River Sluicing Company, Ltd., and several shareholders from Canterbury and Nelson were present over the weekend at the company’s claim to see the first wash-up. Those of the shareholders who had not previously visited the area were surprised with the advantages so suitably provided by nature for the successful treatment of the gold-bearing country. The water is brought to the sluicing nozzle so as to facilitate its play over a very largo surface without any difficulty, whilst the gravels are so small and loose that an unusually large yardage per hour is carried over the sluiceboxes to a most ideally situated tailings area. The actual sluicing covered a period of 16S working hours, but, owing to a break in the water-race during the recent heavy rains and floods, less than one-half of the normal water supply was available for eightyone hours of the full time. It was estimated by the company’s engineer, Mr Learmont, who was present, that the yardage treated was about 3500 yards. The result of 15Joz. of gold obtained, giving a. return of over Gd per yard, was considered most satisfactory, especially as the ground' sluiced had been worked by tunnels and comprehensive blocking out for many years past, when much gold had been won by the use of primitive methods and a small amount of water caught in a depression during rains. There were also present the directors of the Mount David Sluicing Company, in the washing process. They were more than pleased with all that they saw. and the satisfactory amount of gold procured. The gold was hidden in much black sand, the presence of which in quantity is considered to giv Q promise of excellent future results, when the gravels not previously worked are treated during operations during twenty-four hours of each working day. It is proposed to instal a lighting plant, so that three shifts

of eight hours may be worked, and the lighting should’ be available in about a fortnight’s time. The manager said that he purposed opening up two faces, which can be conveniently sluiced with the one nozzle. The water-race has now one or two weak places, which are likely to occur in any water-race construction before absolute consolidation takes place, but with very little further expe.ndituie will be strengthened, and it is them expected that there will be no further interruption in the water supply. He H?it encouraged by the initial results, and that he believed that the next and future wash-ups would be quite profitable. , x . The directors are contemplating rutting down several test bores on its ninety acres of fiat land which lies at <he foot of the claims area, and through which flows the Snowy River. A Grevmouth syndicate is commencing boring this week on about 100 •tries aiijoining, and, when completed, offer to start on the company’s land.

ALEXANDER MINES LIMITED. The annual meeting of shareholders of Alexander Mines Ltd., was held on August 4, Mr D. A. McVicar, Chairman of Directors, presided. Sixty-two shareholders were represented personally and by proxy, holding 43,038 shares. The directors report, balance sheet and statement of profit and loss for year ended May 31, 1933, were received and adopted. There being no other nominations, the retiring directors —Messrs A. F. O’Donnell and S. A. A. Fry—were reelected, the auditors, Messrs Cooper and Auld, were re-elected, the remuneration in each case being the same as last year. Two suggestions were received from a Christchurch shareholder. (1) That the shares in the company be sub-divid-ed into shares of smaller denominations (5/- per share being- suggested). (2) That representatives of the Press from the leading newspapers on the West Coast. Christchurch, and elsewhere be invited to make a visit of inspection of the mine at the company’s expense, as the public would be very greatly interested in a comprehensive report on the mine generally.

The meeting refused to discuss the second proposal, and in dealing with the first suggestion a resolution was proposed and seconded that the question of dividing the shares into smaller denominations should be submitted to the shareholders of the company to ascertain their views on the matter. An amendment was then proposed that the letter from the shareholder making these two suggestions should be laid on the table to be brought before the next annual general meeting of shareholders. On a show of hands being called for the motion it was overwhelmingly defeated and the amendment carried. A final resolution was carried to the effect that the meeting wished to impress upon the Mines Department the urgent necessity for the construction of a decent road from the school and township’at Alexander River to the battery and that the assistance of Messrs M. Fagan, M.L.C., and H. E. Holland, M.P., be invoked on this matter. Mr Bolitho, the mine manager, was present at the meeting, and reported that a drive had been driven out eight feet to the eastward of the eastern block recently intercepted east of No. 3 Level, and a strong body of ore had been cut. This has been penetrated 4 feet with no eastern wall showing. This reef is clean and solid and is going strong underfoot. Gold can be readily seen in the stone. Samples of stone from the new lode recently discovered to the eastward of the reef which has* been worked for the past two years in No. 3 Level, are cn view at the Company’s office, Reefton. These are carrying splendid gold and serve to indicate in no uncertain manner the wealth which can be unearthed in the Reefton field. The new lode is looking very promising, being live'to six feet wide of clean hard stone. WORK AT RED JACKS. The Auckland syndicate, at Red Jacks, commenced operations last week, with their caterpillar shovel. This type of mining, which is new to the West Coast, is proving successful, and results so far achieved are satisfactory. The device is used for working ground where there is no fall, and 400 yards of soil per day can be treated.