COMMERCIAL

Greymouth Evening Star, 9 August 1938, Page 8

COMMERCIAL

LONDON MARKETS

[BY CABLE —PBESS ASSIG' —COPYBIGHT.]

LONDON, August 7

The keynote of markets has been dullness rather than weakness. There has been some sign of political nervousness, especially on the part, of Continental operators, who are rushin..- to cold, but. most. City operators d(f not' expect the Russian-Japanese trouble, to become explosive. Evidence is accumulating that Japan is not in an economic position to embark on a major Avar. The City is more concerned with the European situation. German activity indicates that markets may have to stand up to some shocks m the next month or two. The butter market is tending harder, in spite of holiday idleness Inanity is confined mainly to fresh ar-, rivals from New Zealand, and appears largely manipulative. Continentals are”quiet, and stocks are increasing. Cheese is also firmer, although the New Zealand stocks are nearly double last year’s. Apples have continued in good demand. WOOL MARKET LONDON, August. 8. Bradford market, firm. Business quiet. Users well covered. SUGAR COMPANY’S PROFITS. SYDNEY, August 8. . The Millaquin Sugar Company s trading profit, for the year increased from £75.449 to £79,112. lhe interim dividend was three per cent. The directors now recommend an additional final half-yearly dividem of four per cent., and a bonus oj. tom per cent., making the years distribution eleven per cent., and absoib ing fifty-five thousand pounds.

ARAHURA SALE

W. Jeffries and Co., report that at the fortnightly sale held at Arahura yesterday, there was an entry of So i’at cattle, all of which could be classed as first-class beef. The quality was excellent, and the large attendance ot butchers who competed keenly to the last pen, made the sale a very spirited one. Primo ox beef made from 37/6 to £2 per 100 and in cases higher, whilst heifers sold from 40/- to 41/- Our entry of 45 head sold as follows: For C. H. and L. R. Gibb, 2 blks at £l5/17/6, 1 blk at £l4/2/6, 2 blks at £l3/17/6. 4 blks at £lo 12/6, 5 blks at £l3/7/6, 4 blks at £lo 2/6 2 blks at £l2/7/6, 2 blks at £ll 17/6 (average for 22 blks £l3/9/1), 2 heifers at £l2/2/6. 5 heifers at £ll 17/6. 3 heifers at £ll/12/6, 2 heifers at. £lO/7/6 (average for 12 heifers £ll/12/-) Two cows at £ll/H/b, 2 cows at' £ll/2/6, 1 cow £9/17/6. For Mr. R. Gibbs: 2 blks at £l3/2/6, 1 do. £l2/2/6, 3 heifers nt £ll/2/6. STOCKS AND SHARES. DUNEDIN, August 9. Sales: Bank of New Zealand 3/6, Dominion Fertiliser £l/5/- (2). MINING RETURNS. OKARITO. DUNEDIN, August 9. Okarito wash-up: 290 z. IGdwt. for 115 hours.

MATAKI.

The Mataki return for the week end ed August. 7 was 30oz. for 12S hours work and 9100 yards.

BLACKWATER MINES

Return for July: Crushed 4352 tons yielding 14G9 fine ounces of gold from all sources, the value of which, taking void at 141/- per fine ounce, was £10,356. Working expenses were £7145 leaving a working profit, of £3211. Capital expenditure was £1955 and development £SSS. Review of development work carried out during the month: No. 12 Level Drive north from crosscut west at 105 north advanced 28 feet, on reef averaging IS inches in width and 23 dwts. value. No. 12 Level Winze- at 715 N.. was commenced and sunk S feet during the month on reef averaging 36 inches in width and 23 dwts. value. No. 13 Level Drive South, adadvanced 35 feet on reef averaging 24 inches in width and 101 dwts. value No. 13 Level Drive South, advanced 46 feet of which the last 13 feet were on reef averaging 30 inches in width and 111 dwts value. No. 13 Level Winze at 2630 N.. was sunk 23 feet overlying the reef. No. 14 Level Drive North, advanced 43 feet on reef averaging 16 ins. in width and 7 dwts in value. No. 15 Level Drive South advanced -19 feet on reef averaging 20 inches in width and 131 dwts. in value. AL EXA NDER MINES Mine report for month of July:—No. G rise; This rise was advanced Io a height, of 10 feet above the level caps during the month. Work was carried on for only part of the month owing to the large amount, of water that was making. Rising is now being continued, work being carried on with four shifts of six hours each. No. 6 drive; This drive was advanced 21 feet in a northerly direction on good reef track with a little water coming out of the face. No. 5 Winze: During the early part of the month the Winze' was sunk a further three feet, making a total depth of 70 feet from No. 5 level, but owing Io the large quantity of water which was making, sinking has been suspended. Before operations ceased in (tie winze a hole was bored on the fool wall side and passed through a width of four feet of orc' and failed to disclose the footwall side of this reef. This proves that a roof of over four feet in width is continuing on (lie footwall side of the* bottom of the winze*. Tn foot below No. 5 level. Stoping: Four mon have been employed cleaning up the slopes between Xo. r> and No. I levels. This ore will bo transported to the* battery when the aerial is ro-started. Aerial: The lop return wheel ha:-, boon erected :n Ike now silo, 'rlii' aerial line will lie ahoitl 211(1(1 feet shorler ami :l v. ill lie possibh* in Irn n.spi >,( more me nv< -r the m rial Ilian pr>-\ immtx. Repair: have Immi c• ii■ ■ ( • i,..( | (l i\| sll.'ick,-. t'l'ei'k Track’ with a view In solort j|ig ,'i nil.a bio site lor I lie ill iv ini' of ?-,’o. 7 level. Ballory : No ore Ims . hoc n t>rnl io lhe ballery during lhe inonlii, imt orc* will Im transported directly Hie aerial lino is working. The opporliiirily was taken to give lhe ballery a genera] overhaul ami mm stamper box was replaced. STOCK EXCHANGE. There- was no call on lhe ('’hri",lchurch' Stock Exchange* to-day, on ar-! count of the Grand National holiday, »