COMMERCIAL

Greymouth Evening Star, 13 September 1934, Page 8

COMMERCIAL

ADDINGTON MARKET LATE RATES MAINTAINED [per press association.] CHRISTCHURCH, September 12. Average sized yardings were forward at to-day’s Addington market, except in the fat sheep section, in which there was an over-supply. This department recorded an easing of 1/to 1/6 a head, but all other sections maintained late rates. Store Sheep: In a small entry hoggets predominated. For these there was a keen sale, ewe hoggets making to 26/- and wethers to 20/7. Adult wethers sold to' 22/6 and old ewes and lambs to 10/11. Fat Sheep: 6,000 penned compared with 3,000 at the preceding sale. Hoggets, which were sold at the beginning of the sale, recorded a drop but adult sheep sold well considering the heavy entry. A big representation of South Otago and Southland sheep was penned and a proportion was passed. Extra prime heavy wethers to 32/10, prime heavy 29/- to 31/-, prime medium weight 25/6 to 28/-, ordinary .21/6 to 25/-, light to 21/-, extra prime heavy ewes to 29/-, prime heavy 23/to 26/6, prime medium weight 21/6 to 22/6. Ordinary 18/6 to 21/-, light 18/-. Fat Cattle: 410 penned including 70 from South Otago and some truck lots from South Canterbury. Values were from par to 21/- better than last week. Best beef made from 29/6 to 31/-, extra to 32/6 per 100 lbs., prime heavy 26/- to 29/-, ordinary 22/6 to 25/6, secondary 20/- to 22/- and rough down to 18/6. Extra prime heavy steers to £l4/17/6, prime heavy £ll/5/- to £l3/15/-, prime medium weight £lO to £ll/10/-, ordinary £7 to £9/10/-, light to £6/15/-. Extra prime heifers to £lO/12/6, prime £7/5/- to £9/10/-, medium £5/15/- to £7, light to £5/5/-, extra prime cows to £lO/5/-, prime £7 to £9, medium £5 to £6/15/-, light and aged £3/10/- to £4/15/-. Store Cattle: Young steers were in demand by graziers at up to £6/3/6. Other sorts were neglected. Fat Pigs: A keen sale. Droppers £2 to £5/3/6, baconers 45/6 to £3/13/6, average price per lb. 4|d to Porkers 24/6 to 21/6, average price per lb. 5Jd to 6d.

SYDNEY WOOL SALES. SYDNEY, September 12. At the wool sales to-day, 5971 bales were offered, and 5132 were sold, also 939 bales privately. The market was without any change, with Japan, Yorkshire and the Continent the chief bidders. Greasy merino fleece sold to 16d for five bales from Gloucester, and seventeen from Tumut. GOLD PRICES. The Electrolytic Refining and Smelting Company, Ltd., paid £2 0/7 for sovereigns. The Port Kembla branch of the company sold a parcel of gold in London on August 30 at a price enabling £8 12/1 a fine ounce to be returned to the seller in Australia. This price is the highest ever returned to an Australian seller of gold. The Commonwealth Bank in Melbourne on August 31 offered £2 0/2 for sovereigns. The price of gold in London on September 3 advanced to £7 1/7, or 1/4 on the figure on which the foregoing Australian records are based. STOCKS AND SHARES. WELLINGTON, September 13. Sales: Four per cent. Stock, 1940, £108; British Tobacco 38/5, 38/6; Colonial Sugar £66/15/-; New Zealand Refrig £1 paid, 19/6; Mt. Lyell £l/0/3; Big River 1/-. CHRISTCHURCH, September 13. ’Change: Comm. Bank Aust. 17/8, (2), 'l7/9; Natl. Bank A’sia (£lO paid), £l2/18/-; Bank of New Zealand 48/-; N.Z. Refrig. (£1 paid) 19/6; British . Tobacco (cum. div.) 38/6 (2); Brian Born 1/4; Goldfields Dredging 1/-; Mining House Concessions 4Jd; Mt. Lyell 20/3 (3). Reported: Quill Morris (in liquidation) 3/3; Bank of New Zealand 48/-. AUCKLAND, September 13. Sales: Farmers’ Trading 6/4, A.P.A. 10/4, Kaiapoi 12/10, Con. Brick 10/9, National Timber 13/6, Commercial Bank 17/8, 17/9, Farmers’ Fertiliser 20/-, National Insurance 20/3, Woolworths, Sydney 2nd pref. 27/-; Cement 30/3, Broken Hill 49/10, National Bank 74/6, E.S.A. Bank £5/8/-, Wellington Woollen pref. £5/10/-. Reserve Bank £6/9/3. Harbour 51 £lO6/10/-. Stock 1 1955, £lll/7/6.

DUNEDIN, September 13. Sale reported: Bank of New Zealand 48/-.

SNOWY RIVER SLUICING.

The Snowy River Sluicing Co’s return for the period ended September !), for 12!) hours was 3oz. ISdwts. MATAKI REPORT. During last week the dredge worked 132 hours on a face of 550 feet, the average depth being 14 feet. The river portion of the ground is still deepening, but the bank portion has become shallowed. The wash in the bank is hard and stony and carrying fair gold. The dredge is now clear of the tailings, and is still opening out on the inside, while the ground is improving. The dredge is working well. ARGO DREDGING CO. LTD. The statutory meeting of the Argo Dredging Co. Ltd., was held last night, Mr. J. W. Hannan presiding. Eighteen shareholders were present representing 293,251 shares. It was reported that all of the capital had been subscribed and that an adjoining area in Ford’s Creek, over which the Company had an option, was being tested. The election of Directors resulted in Messrs D. A. McVicar. J. G. Quinn, G. Lambert, J. Bolitho and J. B. Discaciati being elected. Mr. W. B. Auld was elected Auditor.

BELL-HOOPER CROMWELL. Report as follows for the week ending September 7. No. 1 mine area. Block A.—131 sq. ft. pf bottom was cleaned up in this block for payable gold. Block Q: Blocking out on the south side of the west cross drive was temporarily stopped due to the No. 2 bin being full with the washing plant out of commission. An area of 73* sq. feet was cleaned up for payable gold. Several large boulders were met with which delayed progress. Block S.: The men from Q Block were moved to S Block in the middle of the period

and 52sq. ft. of bottom was cleaned up for fair gold. The wash from this face was treated in No. 1 Plant. No. 2 mine area, No. 3 A north drive. —This drive was started during the period to prospect the lead to the eastward of No. 3 north. This drive is 16ft. east of No. 3 north centre to centre. It was advanced 201 ft. Total 201 ft. from west cross drive. From 0 to 10’ north no values were obtained. From 10’ to face payable values were obtained, but they were not high. No. 4 north drive: This drive was advanced 161 ft. Total 174 ft. from the west cross drive. Only traces of gold were obtained and there was no change in the nature of the wash obtained. The bottom dipped at 160 ft. north from the level of the cap of the timber set to half way to the floor, indicating the presence of a channel in the wider channel of the main stream bed. Large boulders are imbedded in the gravels, which impede progress. Some water is percolating from the face. General. —The new starter for the No. 2 plant pump arrived on Friday morning and was immediately installed. A wash up of No 1 plant was made on Friday for a return of 9oz. ldwt. 4 grs (bank weight). A washup of No. 2 bin was made on Saturday, for a return of 6oz. 7dwts. 13grs. (mine weight). Total for the week 15oz. Bdwts. 17 grs. RENOWN COLLIERIES. AUCKLAND, September 11. The Renown Collieries, Ltd., reports a net profit of £662 for the year ended July 31, against a loss of £3350 in the previous year. No allowance has been made for depreciation, which also was not allowed foi' in the 1933 accounts. The directors are submitting proposals to write down the ordinary shares from £1 to 12/-, to reduce the rate of cumulative dividend on preference shares to 7 per cent, and to extinguish the liability for arrears of preference dividend. No dividends have yet been paid by the company, which commenced operations about seven years ago. PUKEMIRO COLLIERIES. AUCKLAND, September 11. The accounts of the Pukemiro Collieries, Ltd., for the year ended August 31 show a loss of £5025, after allowing £1685 for depreciation. This compares with a loss in the previous year of £7036, and a profit of £7505 in 1932. The dividend for the year has been reduced from 5 per cent to 2J per cent.