COMMERCIAL

Greymouth Evening Star, 6 October 1936, Page 8

COMMERCIAL

HOMELAND MARKETS.

[BY CABLE —PBESB ASSN. —COPYBIGHT.]

LONDON, October 4. The stock markets account ended cheerfully after what might have been a disturbed week following the ievaluation of the franc. The success of Friday’s working of the international monetary arrangement, assisted by the absence of reprecussions in Paris, where the Bourse is reopening after a week stimulated. London security markets. Gilt-edged stocks, which were affected by an undue beaiishness earlier in the week, completely recovered. Dominion stocks were firm. Iron and steel appreciated on Sir Samuel Hoare’s hint of an accelera* tion of rearmament, and industrials reflected the market’s view that devaluation did not threaten British industry. The continuance of British trade recovery is instanced by the fact that more than £1,000,000,000 more is circulating now in trade and industry than at the corresponding time last year. According to the bankers clearing house, cheques and bills dealt with last week were £162,291,000, making a total increase in the first three quarters of the year approximately £1,130,000,000. Emphasising the strength of the wool market as evidenced at the Australian sales, experts point out that Yorksire thereby is showing buyers’ confidence in present values and topmakers feel that the Japanese cannot remain aloof much longer. Butter has been fairly active this week, Australian and New Zealand recovering to 105/-. Subsequently they declined to 104/-, partly as a result of a denial of a report that America intended to impose a dumping duty against Continentals and also to the fact that buyers acquired a fortnight’s stocks. Cheese recovered in sympathy with butter.

GOLD AND EXCHANGE

LONDON. October 5. Gold 141/0?,, dollar 4923, franc 105?.. STOCKS AND SHARES. CHRISTCHURCH, October 6. Sales: Government 4 per cent. laser. 1937-40, £lOl/17/6: Aust. Iron and Steel (pref), 25/9 (2); 25/10; British Tobacco 42/11; Broken Hill Propty. 77/3; Broken Hill Propty. (rights to Wellington Alluvials) 2/3, 2/4 (2); 2/3 (3), 2/4, 2/3 (2); Victoria Nyanza 12/6; Electro Zinc (ord.) 43/6 (2). Reported: N.Z. Refrig. (10/- pd.) 9/1. AUCKLAND, October 6. Sales, morning call: Mataki 1/2, Waihi 10/3, Martha 20/2, Kauri 24/8, New Zealand Newspapers 40/-, Broken Hill 77/5, Rights 2/7; Glass 92/9, Woolworth’s (Sydney) £5/8/6. AUCKLAND, October 6. Sales, noon: Broken Hill Rights 2/5, Gas 23/-, Roller Mills, pref. ex. div. 23/-, Coles Rights 34/6, Bank of New Zealand 39/3, City 1944 £lO5/5/-. DUNEDIN, October 6. Sale after call: Broken Hill Proprietary (rights) 2/a. WELLINGTON, October 6. Sales: Aust. Glass £4/13/6, Govt. 4 per cent. Stock 1955 £lO5/15/-, Union Bank £9/10/-, Woolworth’s N.Z. £5/5/-; unofficial: Shillings 17/91, 17/9. SYDNEY, October 6. Austral Gas A £7/7/-, Anthony Hordern IS/6, Associated News 23/9, pref. 23/9; British Tobacco 43/6, Colonial Sugar £43/10/-, General Industries 18/9, pref. 23/9; Howard Smith 18/41. R. Fowler 14/3. HOKITIKA, October 6. Rimu dredge clean-up for the period ended October *5: For 1241 hours’ digging and 56,095 cubic yards, 216 crude ounces of gold were recovered. BIG RIVER GOLD MINES Gold return for month of September. —Battery department: 220 tons were crushed for 1720zs 7dwts of melted gold. Cyanide department: 27 ounces 2 dwts of bullion were recovered. Estimated value: £1,290. In addition, 3 tons 10 cwts of concentrates were saved, valued at £75. Note. —In estimating the above values, gold has been taken at 140/- per fine ounce. ALEXANDER MINES LIMITED. Report for month of September.— No. 5 North Drive: This level has been extended to 310 feet north of main crosscut, stone showing in the roof for 156 feet of this distance. The face shows stone four feet wide with no walls showing, but comes down only two feet below the level caps. The full width of the reef is unknown at this point but in the leading stope above this level the reef is from 10 to 14 feet in width. The strike of the stone continues much the same as last month. This level is opening up well and if nothing unforseen happens will provide the mill with ore for a long time to come. Stoping has been carried on above the intermediate and No. 5 levels. Above the intermediate the reef showing in the face varies from two to eight feet of clean ore. All stoping faces above No. 5 level look well, no face showing lode under six feet in width.

OKARITO

DUNEDIN, October 5

The Okarito return for the week ended on Saturday was 17oz 7dwt for 132 hours’ dredging.

WAITAHU

DUNEDIN, October 5

The Waitahu wash-up was 520 z 6dwt for 27 shifts of eight hours each.