COMMERCIAL

Greymouth Evening Star, 17 November 1934, Page 8

COMMERCIAL

GOLD AND EXCHANGE. [BY CABLE —PRESS ASSN. —COPYRIGHT.] LONDON, November 16. Gold 139/3, dollar 4991, franc 75 13-16. GRAIN AND PRODUCE. CHRISTCHURCH, November 16. The only development of interest in the grain and produce market is the shipment from Bluff by the s.s. Norfolk, next week, of 15,000 sacks of cats to the United Kingdom. This is the first shipment for some time, but it is understood that the price is substantially lower than that secured when export was in progress some months ago. The figure is stated to be about 2/4 f.o.b.s.i. The shipment, however, will be of value in helping to clear stocks. It comprised A Gartons. Fowl wheat is a shade firmer, quotations being 3/81 f.o.b.s.e. There has been more inquiry. The potato trade as affecting merchants is over, although small consignments are going north for bypoits. Quotations are nominal and range about 50/- f.o.b.s.i. The grass seed market is dull. Merchants have to lower prices to make sales. It is yet too early to estimate the prospects of ■ the new crop of Seeds, but except in the case of ryegrass they will arrive on a bare market. Ayegrass is quoted at to 3/- a bushel on truck, and cocksfoot 7d. BUTTER AND’ CHEESE. Copy of cablegram received by Dalgety and Co., Ltd., from their London office, dated November 16: — Butter: Market weaker. Danish 120/-, New Zealand finest 74/- to 76/-, Australian finest unsalted 74/- to 76/-, salted 74/- to 76/-, G.A.Q. 72/- to 73/-. Cheese: Market weaker. New Zeaadian white and coloured 52/- to 55/-. adian whiet and coloured 52/- to 55/-.

CHRISTCHURCH WOOL SALES The dates for the wool sales to be held in Christchurch this season have been fixed as follow: —December 13, January 28, March 1, and April 5. The closing dates for the catalogues and the regulations are advertised in this issue. STOCKS AND SHARES Sales, Okarito 9/-; reported, Bank of New Zealand '49/9. Refrig. 20/4; after call, National Bank of New Zealand 72/6. AUCKLAND, November 17. Sales, Commercial Bank 15/8, Union Oil 29/9, Waihi 38/6, 39/3, British Tobacco 41/5, 41/6, Bank of New Zealand 49/9, Australian Glass 60/-, Drug 80/6, Reserve Bank £6/12/6, Bank of New South Wales £32/2/6. CHARLESTON RETURN WESTPORT, November 17. Charleston return for the fortnight ending November 17, was 14 ozs. 17 dwts. ,15 gr. for 22 shifts.

* WORKSOP DREDGE. CHRISTCHURCH, November 16. The Worksop dredge return was 74 ounces for 127 hours, and 10,350 yards. GOLDEN SANDS RETURN. The. Golden Sands . return is 22ozs ISdwts" gold, for 33 shifts of eight hours each. BIG RIVER GOLD MINES Report for week ending November 15: —No. 3 crosscut. —Distance driven 5 feet. Distance from south drive 271 feet. Distance from shaft 468 feet. Country very hard. No. 4 drive. —Total distance driven (55 feet) on reef. The face is looking well, the reef maintaining its width. The reef in the leading stope above the level appears to slightly increase in width. No. 4 south drive. —-Total distance driven 35 feet, 20 feet being on reef. The reef is _4 feet 6 inches wide in the face. Gold is seen in the stone. The battery stopped crushing on Wednesday owing to shortage of water. Crushing will be recommenced as soon as it rains.

MOONLIGHT GOLDFIELDS, LTD. The action of the directors of the Moonlight Goldfields Co. Ltd., in granting an option to an English company was confirmed at an extraordinary general meeting of shareholders on Thursday. The Chairman of Directors, Mr IT. 11. Cook, presided over a large attendance. The Chairman said: “This meeting is somewhat of a formal nature, having been called to confirm the action of the directors in giving an option to Investments, Ltd., over certain areas as described in the circulars sent out to shareholders on April 9, 1934. These are as follow:—(1) Part of the company’s area below the Moonlight Road and part of Hay’s Farm above the read —approximately 300 acres. (2) 250 acres nearby which had then been recently acquired by transfer from Mr J. E. Forbes, our then manager, on behalf of Messrs S. B. White and himself, and the balance then also recently acquired by the company, of 150 acres. It will thus be seen that of the total of 700 acres, 300 formed portion of the company’s original holding, the remaining 400 acres were acquired in order to make up a suitable area to offer as a dredging proposition. The circular made it clear that the project in no wise af-

iects the lay-out of the pipe-line or the original programme of the company. To ensure this and at the suggestion of Mr Forbes a special claim of 65 acres lying between the Moonlight Road and tlic Grey River was pegged and acquired by the company as a sluicing area and tail race site to the Grey River to be used in connection with the company’s mining scheme. The directors and the manager considered that, in view of the large areas held by the company, it was wise to take advantage of an opportunity to dispose of a portion of the company’s holding, which, owing to its remoteness from the source of the water supuly and cdntur f its surface, was not particularly attractive for sluicing, but should be more suitable for dredging. The. great advantage in’- your, directors’ opinion which will accrue to the company should this option be exercised is that without interfering with the projected activities of the company it will at the same time be participating in any profits derived from the working of this additional area. The company’s water supply from the Roaring Meg is in no way affected by this option. I trust that what I have said has made the position clear and formally move: ‘That the action of the directors

in granting an option, dated April 13, 1934, to Messrs investments, Ltd., as set out in the deed of option, be confirmed.’ ” The motion was seconded by Mr S. T. Peters and carried with four dissentients. COMPANIES REGISTERED Maruia Gold Ltd. Regd. as a private company November 6. Office*: Auckland. Capital—£s,ooo in 5,000 shares of £1 each. Subscribers: Auckland —C. E. Clarke 100, N.Z. Minerals Lts, 3650, Maruia. Prospecting Ltd. 1150, T. Hosking 100. r , ; Objects: Gold mining, etc., anil incidental. Wilson (Otto J.) Ltd. , Regd.. as a private company November 8. Office: Christchurch. Capital £5OOO into 3000 ordinary shares of £1 each, and 2000 five per cent, preference shares of £1 each. Subscribers: Christchurch —O. J. Wilson 2000 ord. 1300 pref, shares, P, C. Elliott 1000 ord. 700 pref, shares. Objects: Company organisers, sharebrokers, underwriters and incidental, i