COMMERCIAL

Greymouth Evening Star, 25 January 1936, Page 5

COMMERCIAL

GOLD AND EXCHANGE. [BY CABLE —PRESS ASSN. —COPYRIGHT.] LONDON, January 24. Gold 140/10, New York 499 g, Paris 75 1-16. MAORI GULLY DREDGE. The Maori Gully dredge return for this week was 25 ounces 3 dwts. foi 133 hours’ work. ADDISON’S FLAT. WESTPORT, January 25. Addison’s Flat Goldmining Coy. recommenced operations, after shifting the plant to a part of the property known as Gallagher’s Lead. The shortage of water resulted in a loss of shifts, and tlie return to date for 21 shifts is 250 z. sdwts. Some preliminary development work was included in the shifts mentioned. BIG RIVER GOLD MINES. The following is the onicial report on the repairs to this company’s main shaft for week ending January 23. From bearers up to the floor of No. 5 Cliamber has been timbered and packed and the opening out set .and second chamber set stood and sides packed. ■Snaft timbering completed and centres in position as far up as .cap of chamber set. Guides and centres that have been left out. will now be put in as we work up to the ironbark hearers at the bottom of the caved ground. Also the permanent ladders and stagings will be fixed in position. When the ironbark bearers are reached, we will have to commence the straightening process. CHARLESTON SLUICING COY.

Tlie third annual report and balance sheet of the Charleston Sluicing Company to have been issued will be placed before shareholders at the annual meeting, to be held in Christchurch on January 31. x The report states thta at an extraordinary general meeting of shareholders, held on October 11, 1935., the question of raising additional capital was cdnsidered. It was decided to consult the shareholders by means of a questionnaire as to their attitude towards placing the company in liquidation or subscribing additional capital. The financial position of the company does not permit of the claim being worked at a profit and as was explained to shareholders in the last circular forwarded to them, additional expenditure is necessary- before operations can be continued profitably. In view of the necessary expenditure, the lack of capital, and the poor response from shareholders in regard to subscribing for additional shares, the directors feel it to be advisable to recommend to the shareholders that the company be placed in liquidation. During the year under review a total of 2340 z. 12dwt of gold was won, valued at £l7lO/2/7, and averaging £7/5/9 an ounce. Mr. W. G. McDonald retires from the directorate, and, being eligible, offers himself for re-election. The retiring auditor, Mr. W. S. Mac Gibbon again offers his services.

The balance-sheet shows that the working costs at the mine were £1493 15/8, showing a gross profit of £216 6/11. Office and other expenses, the principal items of which were secretarial salary, £93/15/-, and engineer’s expenses, £BO/2/10, amounted to £419/3/1, leaving a net loss of £202 16/2. Capital is £10,625, and sundry creditors £903/16/9. STOCKS AND SHARES. WELLINGTON, January 25. Reported sale: Woolworths (N.Z.) ord. £5 la/-. BUTTER AND CHEESE. WELLINGTON. January 25. The Dairy Board has fixed prices on the basis of butter Ud and cheese 53 equivalent to 89/1 and 49/7 c.i.f.e.

GRAIN AND PRODUCE

CHRISTCHURCH, January 24

Th© Canterbury produce markets continue to be very quiet, though more of the new season’s crops are being offered. As time goes on, the outlook for growers of most lines, this season, is not encouraging, because in general, heavy crops, ar© expected to com© on to a market which is well supplied already, with a carry over from last season.

There has been no change in the oat market. Algerians are offering fre&ly and most of the samples are good. There ar© very feAV white oats about yet. Algerians are Avorth about 1/6, but there ar© not many buyers ©ven at that price. A Gartons are quoted at about 1/11 on trucks, and B’s at about 1/8.

A heavy ryegrass crop is expected this season, and naturally the market for this line is depressed. The present price of 1/6 is not likely to appeal to sellers, and doubtless a good deal of seed Avill go back on the farms. There has been a slackening in interest in potatoes, the North Island shoAving a tendency to Avait developments. A fairly heavy crop* is expected, and prospects have been improved by the rains this Aveek. It is too early yet to say what the yields may be, but unless the Aveather is definitely bad from uoav on, the returns should he heavy. The nominal quotation today Avas half-a-croAvn lOAver at 87/6 than it was earlier in the Aveek. The continued lack of interest in the onion market has allowed prices for autumn soavii crop to decline to about £4 on trucks. Very little business is being done even at this figure, southern merchants finding that they have still heavy supplies of Canadian. The spring crop has, of course, not yet appeared. but the nominal quotation is £4 1'.0.b., equal to about. £2/10/-, on trucks.