COMMERCIAL

Greymouth Evening Star, 15 June 1935, Page 8

COMMERCIAL

GRAIN AND PRODUCE

fI’EK f’RESS ASSOCIATION.]

CHRISTCHURCH, June 14

There has been very little _ movement in the potato market (luring the week, an unusual experience l at this period of the season. Auckland, how-' ever, has plenty of potatoes on hand, and the decreased shipments going north will probably enable some of these stocks in store to be distributed. Digging has been suspended in most parts of North and mid-Canterbury, on account of the snow storm, and there have been few deliveries during the week, but there have been more offers in the last two days. Quotations for prompt whites are £6/5/- f.o.b.s.i. and for June’s £6/10/-, and Dakotas are £6 for prompts and £6/2/6 for Junes, but sales are difficult to make at this price. At the moment, the nominal quotations for July-September ■are £7/5/- f.0.b.5.i., but there is a general cautiousness in dealing so far forward. Prices to farmers at the moment are' £5 for whites and £4/15/- to £5 for Dakotas, according to stations. This week’s boat took approximately 2000 sacks .from Timaru and Lyttelton, and the Port Whangarei is due to lift a small quantity to-morrow.

Fowl feed is quoted at 4/3 f.0.b.5.e., the reduced price for Board fowl feed not taking effect until July 5. The partridge pea market remains very firm and buyers cannot secure supplies at much less than 6/- on trucks. As there is no expert demand so far, this price is slightly in advance of merchant’s ideas.

The oats market is unchanged. Chaff is also singularly free of inquiry, considering the rough weather of last week. Values are*£3/5/» on trucks.

There is no change in the values in the small seeds market.

BUTTER AND CHEESE.

' , Copy of cablegram received by Dalgety and Company, Limited, from their London office, dated June 14, 1935: — Butter: Market firm. Danish 80/New Zealand finest 86/-, Australian finest unsalted 84/-, Australian finest salted 84/-, Australian G.A.Q. 80/-. Cheese: Market steadier. New Zealand white 43/6 to 44/-, New Zealand coloured 44/-, Canadian white and coloured 58/- to 64/-. GOLD AND EXCHANGE LONDON, June 14. Gold 140/8, dollar 494 5-16, franc 74 15-16. STOCKS AND SHARES WELLINGTON, June 15. Sales: 4 per cent. Government stock (1946) £196/5/-. Woolworths Ltd., 90/-, 90/74. DUNEDIN, June 15. Sales reported: (late yesterday) — Bank of New Zealand £2/10/10 cum. (2), Commercial Bank (pref.) £9/10/-, E. S. & A. Bank £5/2/-, National Australasia Bank (cont.) £6/5/-, Skippers 2id (two). WORKSOP EXTENDED REEFTON, June 15. Worksop Extended: 37 ozs. 6 dwts. for 125 hours, 6500 yards. r MAORI GULLY. The Maori. Gully return for the week was 33ozs. 2dwts. 16grs. for 122 hours. CHARLESTON. WESTPORT, June 15. Charleston return for the fortnight ending to-day:—lBozs lOdwts sgrs. for 22 shifts of 9 hours. WAIHI CO. AUCKLAND, June 13.

A reference to the development work being carried out in the north-western portion of the Waihi mine was made in the annual report of the Waihi Gold Mining Company, Ltd., under date May 2. The report stated: — “Exploration work on the north branch of the Martha lode westward from No. 2 shaft is being continued on five levels. Although the development work ,in this section has not up to'the present disclosed any large body of ore the results obtained are sufficiently promising to warrant further extensive investigation.” Reviewing the subsequent progress, Mr. R. G. Milligan, the company’s attorney in New Zealand, said that work was proceeding on levels 5,6, and 7, and although no extensive ore body had yet been disclosed, the ore had been for the most part of good grade. Some of the ore from this section had been used for the sweetening -of the low-grade ore mentioned in the chairman’s address at the annual meeting in London.

“What we have disclosed in this section of the mine certainly warrants further expenditure,” said Mr. Milligan. “There is considerable scope in the area, as the north-west section is parctically virgin country. Apart from surface workings no work has previously been done in the section.”

ALLUVIAL GOLD, LIMITED, f Owing to the increased activities of the company, the directors of Alluvial Gold Ltd., an Australian proprietary company, propose that the nominal capital, which is £50,000 in £1 shares, cf which 20,000 have been issued, should be increased to £ 100,000 by the creation of a further 50,000 shares of £1 each, and that these shares, together with the 30,000 at present unissued, l?e offered to shareholders at par in proportion to their holdings. They propose to make an immediate issue of 60,000 shares at par, asking shareholders to subscribe for three shares for every one held. The company, the directors explain, has purchased an area at Kanieri, which has been thoroughly examined during the last. 12 months, and proved to contain 54,000,000 cubic yards of dredgable land with, an average content of 9.3 d a cubic yard, with gold at £6 (N.Z.) an ounce. Plans for the necessary dredge are being prepared, and estimates of the cost of the. plant obtained in order to determine the amount of capital necessary to- develop the property. Shareholders will later be asked to subscribe the greater proportion of the capital in the operating company. Encouraging results are being obtained from two other areas in the same locality, and it is anticipated that at least another property of similar value and yardage will be acquired. Further boring, which it is believed will be completed before the end of July, is necessary before a definite statement of yardage and values can be made. Many other properties are being examined in Australia, New Zealand, and elsewhere.