COMMERCIAL

Greymouth Evening Star, 25 May 1935, Page 8

COMMERCIAL

GRAIN AND PRODUCE.

[pee press association.]

CHRISTCHURCH, May 24. There has been little change in the potato market during the week, though in some respects there is a slightly firmer tendency. The Auckland position is weaker, there being more potatoes on hand there than are immediately required. It was thought that the burst of rough weather throughout Canterbury would holdup digging sufficiently to enable the surplus to be reduced. However, the suspension of digging was of very short duration and potatoes were being delivered to Lyttelton on Thursday. The Wingatui, this week, has taken approximately 7,000 sacks, 4,300 from Sou,th and 2,700 from Lyttelton. Two boats are due next week from Timaru and Lytteltoan, the Kartigi and Waimarino. Prompt values at the moment are firm at £5/15/f.o.b.s.i. for whites, and £5/7/6 for Dakotas. The latter have not improved during the week. Holders are asking £5/15/- for Dakotas for June and £6/5/- for whites. Quotations to farmers are £4/5/- for Dakotas and £4/10/- for whites.

There is a shade of firming for partridge peas, due to the better market abroad. Quotations are 6/6 f.o.b. s.i.

There is no change Tn the market for A Grade Gartons, which are quoted at 3/2 f.o.b.s.i. Algerians have weakende a little, and values to farmers are from 2/3 to 2/4. Good Duns are scarce and are worth to 3/3 on truck.

Fowl wheat is unchanged at per bushel for free and 4/4 for Board. Chaff is quoted at £3/5/- a ton on trucks, but there is very little inquiry.

The small seeds market is unchanged, but all classes are held firmly. Good quality onions are in very scarce supply and for quality, from 120/- to 120/10 a ton on trucks is available. * WOOL SALES LONDON, May 24. ( The “Yorkshire Observer” forecasts that Bradford representatives attending the wool textile conference at Berlin on June 6, will urge the spreading of Australian sales over a longer period. Hitherto, the bulk of Australian wool has been sold over a short period, forcing importers to buy a year’s supply in a few months, thus risking subsequent price fluctuations. BUTTER AND CHEESE. Copy of cablegram received by Dalgety and Co., Ltd., from their London office, dated May 24: —

Butter: Market firm. Danish 76/to 78/-, New Zealand finest 79/6 to 80/-, Australian finest unsalted 78/to 79/-, salted 78/- to 79/-, G.A.Q. 73/to 74/-’. Cheese: Market slow. New Zealand white 43/ to 43/6, New Zealand coloured 44/- to 44/6, Canadian white and coloured 54/- to 62/-.

WELLINGTON, May 25.

Dairy produce prices for the week have been fixed . at: —Butter 9§d, cheese sd, equivalent to 79/8 and 44/c.i.f.e. STOCKS AND SHARES WELLINGTON, May 25. Sale: Bank of New Zealand 50/9. WORKSOP DREDGE. The Worksop Dredge return is 330 z lOdwts for 132 hours’ dredging.

MAORI GULLY DREDGE.

After the early shift on Wednesday last, the ground worked was measured up and it was found that the dredge contractor had completed the dredging of the 50,000 yards provided for in the contract. The dredge was stopped, and the contractor started on certain adjustments in the framing and machinery called for by the Company’s Engineer. It is expected that these will be completed by Monday next, and as soon as the work has been passed by the Company’s Engineer, the dredge will be taken over and operated by the Company’s own staff. Dredging should be resumed by Tuesday next. • The return for 68 hours to 8 a.m. on Wednesday last was 30ozs retorted gold.

MOONLIGHT GOLDFIELDS. The Moonlight Goldfields Company in February last granted an option to the Australian Selection Trust over the balance of its rights and assets remaining after the granting of the first option to Investments, Ltd. The directors have now been advised by the attorney to Australian Selection Trust that his principals are ceasing all their operations in New Zealand, and have instructed him to abandon the option. The first option to Investments, Ltd., is still in force. As regards the company’s own operations, the directors have to report that development work has been steadily pushed forward and the last of the contracts in connection with the laying of the pipe-line is nearing completion. It is hoped that the production stage will be reached very shortly now.

BIG RIVER GOLD MINES. '

Report for week ending May 23: — No. 4 north drive: Advanced sft. Total distance 62 feet. The stone in the face has reached the back of the level and is 4 feet wide. The vein appears to be taking a more westerly turning. Gold is visible in tho stone. Stope: Filling in progress. Rise 45 feet up: The stone has risen above the level. No. 4 south drive: Advanced 7 feet. A fault line was met and followed for 5 feet when a showing of stone 1 foot wide appeared. Gohl was seen in the slone. This development is likely to prove oi considerable importance. Main shaft: This job is progressing veiy satisfactorily. Battery: It has been impossible to work two shifts daily owing to sortage of stone. 1

N.Z. MORTGAGE CORPORATION I WELLINGTON. May 24. Tho applications for the issue of 500.000 shares of £1 each in tiro Mortgage Corporation of New Zealand closed to-day. Tho applications already in the pos-.■•o-sion of tho Treasury show that tho issue will be over-subscribed, but bv bow much will not be known until all thoso from the centres outside of Wellington have been received by the Department.