COMMERCIAL

Greymouth Evening Star, 16 October 1933, Page 8

COMMERCIAL

WOOL INDUSTRY

[BY CABLE PRESS ASSN. COPYRIGHT.] LONDON, October 15.

Mr Devereux reports: Bradford prices for Merino tops moved against the buyer. Some business was transacted and the output was maintained. There was some business in medium and fine crossbred tops, with slightly higher prices. Crossbred yarns were firm at last week’s level. Rather a better tone with more inquiry but little new business, in most Continental markets, which are some, what disturbed by political and currency complications. Sales of tops lately only moderate. The Continental futures market was more active and the recent, decline in quotations was recovered.

DAIRY PRODUCE

LONDON, October 14

Lack of inquiry was responsible for a weakening in Australian and New Zealand butter, somewhat surprising the market, which was attempting to hold the price of the finest grades. Little speculative demand for forward butter is expected. Cheese is also difficult to market. The withdrawal of speculative support caused further weakness. Eggs are easier but the decline in Home and Danish production is expected to result in wider distribution of Colonials.

S. AFRICAN LOAN

LONDON, October 15.

Correction: South African loan interest rate is 31 per cent., not 21 as previously cabled.

APPLES MARKET

[per press association.] WELLINGTON, October 16

Disappointment at the manner in which New Zealand apples are being advertised in England, is expressed by Mr G. E. Fownes, who returned with Mrs Fownes by the Marama from a health trip Home. Ho says that during the whole of his stay in England, he saw only one big advertisement of New Zealand fruit, and that, was an old one. He understood the trouble lay in giving the distribution to one firm. One Covent Garden merchant, with whom he had spoken, told him that under the previous arrangement, New Zealand fruit went into many of high class restaurants and hotels, but now it was probably difficult to get it at any of those places. The merchant added he considered that New Zealand apples to be the best graded of all overseas fruit and he regretted that the original arrangement was not still in operation. The merchant mentioned he was leaving for Canada to arrange for Canadian apples to be sold on English market, although he very much preferred not to compete with New Zealand apples, of which his firm had sold many thousands of cases.

STOCKS AND SHARES. y

DUNEDIN, October 16. Sales on ’Change: Standard Insurance 61/-. Reported: Lawson’s Flat 7d, Central Shotover 1/2 (two). After call: Waitahu 6/10. WELLINGTON, October 16. Reported: Wellington Gas 34/-. CHRISTCHURCH, October 16.

Sales: N.Z. Breweries 37/6, Central Shotover (9d' paid) 1/2, Golden Point 2d (2), New Cornish Point (6d paid) 6d (2). Reported: Goldsbrough Mort. 29/2, N.Z. Refrig. (10/- paid) 9/4. AUCKLAND, October 16.

Sales: Malaki 2/1, Guarantee Corp. 8/2, Gas 23/71, Waihi 26/4, 26/3, South British 74/- Bank Australasia £l2 15s, Birkenhead Gas (61) par, Mt. Roskill (52) 101.

LAWSON’S FLAT SLUICING CO. The mine manager’s report stales that during the period from September 26 to October 10 approximately 8500 cubic yards of wash and 500 cubic yards of bottom were sliced. The greater proportion was from the remains of the conglomerate bar containing low values, which was broken through during the previous period, and the remainder was from the new cut on the right hand side of No. 2 face, which was opened up at the end of last month.. In his report, circulated recently to shareholders, Mr John Henderson stated that the wash in the new cut contains better values. The gold won during the period to October 10, amounted to 420 z 6dwt of retorted gold. The average amount of material treated was approximately 30 yards an hour, as compared with 40 yards an hour for the previous period, as stated in Mr Henderson’s report. The reduction is accounted for by the fact that the return water system was closed down for a period of three days while alterations were being made to increase efficiency. The return of retorted gold for the period ended September 26. was 25Aoz, approximately Sloz being from No. 1 face, where the bench for the new pipe line is practically completed, and sluicing operations will soon be commenced. Work is being concentrated principally on No. 2 face, and when tho more efficient stoning plant, I strongly recommended by Mr Henderson in his report to shareholders, has been installed, tho result should be an increase in the yardage treated and a reduction in labour costs.

The next wash up will take place about October 26.

BRIAN BORU DREDGE

The weekly return of the Briai Boru dredge was 74 ounces lOdwts foi 112 hours’ work.