COMMERCIAL

Greymouth Evening Star, 7 September 1938, Page 8

COMMERCIAL

SYDNEY WOOL SALE. [BY CABLE —PBESS ASSN. —COPYBIGHT.] SYDNEY. September 6. ' At the wool sales to-day, there was strong competition from the buy ei s for the Continent of Europe. Mo r,? i l ' ate support came from Japan. lhe market was firm at the opening rates. Greasy merino made to pei * • The offering consisted oi 9774 bales, of which 8730 were sold at auction, and 558 bales privately. STOCKS AND SHARES. CHRISTCHURCH, September 7 Sales: New Zealand Breweries 40/.., Broken Hill Proprietary 57/-, Broken Hill Proprietary (cpntr.) 38/6, oK/<>, G-. J. Coles 7S/10, Taranaki Oilfields l2/5; Wilcox Moiflin 6/4, Woolworth’s -(Sydney, ord.) 20/10, Broken Hill South (cum. div.) 29/6. North Broken Hill (cum. div.) 44/-. Reported: Woolworth’s (South Africa) 15/.. (2). AUCKLAND, September 7. Sales, 10 o’clock call: Bank of New Zealand 42/-, Colonial Sugar £47/5/(2), I.C.T. Pref. 21/8, Woolworth’s (Sydney) 20/9. Stock 15/4/46-49 4 per cent. £lOl. Sales, 12.15 o'clock call: Bank ot New Zealand (2)' 42/-; National Insurance 16/10; New Zealand Breweries 40/3; Broken Hill Prop. (2) 57/2; New Zealand Paper Mills 22/6; New Zealand Newspapers ,34/-; Woo’.werths (Sydney) (2), 20/11. Unlisted: Fiji Kauri 9/-. ■WELLINGTON, Sept. 7. Sales, morning call: Unofficial list — Wool worths (W.A.) Ltd. £4/5/-. Sales reported: Four per cent. Stock 1949 £lOl/5/-. Goldsbrough Mort £l/7/6, New Zealand Breweries £2 (3), £1 19/9. Broken Hill £2/17/3 (3), G. J. Coles £3/18/9. Sales, noon call: Four per cent. Stock, 1946, £lOO/2/6; Four per cent Stock 1949, £lOl/5/6; G. J. Coles 78/10; Consolidated Brick, 7/9; Woolworth’s Ltd., ordinary 20/10. DUNEDIN. September 7. Sales: Bank of New Zealand £2 2/-; Hume Pipe £l. LONDON, September 6,

Clutha River Company, buyers 1/71 —sellers 1/101, Molyneaux 71d —101 d. WAIMUMU SLUICING CO. WELLINGTON, September 7. The Stock Exchange Association has been advised that the directors of the Waimumu Sluicing Company, Ltd., have decided to call an extraordinary meeting to consider voluntary liquidation. ARGO GOLD DREDGING A dividend (No. 16) of one penny per share (free of income tax) has been declared on all the shares in the Argo Gold Dredging Company and will be payable on September 21. This dividend represents a distribution of £2,000 to the shareholders, which makes a total of £31,200 paid in dividends since operations commenced. The sum of £4OO has been placed to the general reserve fund which now stands at £3,400.

BLACKWATER MINES REEFTON, September 6. The Blackwater mine’s return for August is as follows: —Crushed, 3884 tons, yielding 1526 fine ounces of gold. Its value at 142/- per oz was £10,837, and working expenses were £7,395, leaving a working profit of £3,432, Crushed 3884 tons. Review of development work carried out during the month: — No. 12 Level Drive North from Crosscut West, at 105 N. This drive ■was advanced 12A feet on reef averaging IS inches in width and 23dwts value. No. 12 Level Winze at 715 North, was sunk 32 feet on reef averaging 42 iilches in w.idth and 21dtws in value. No. 12 Level Winze at 910 North advanced 35 feet on reef averaging 18 inches in width and 22dwts in value. No. 13 Level Drive South advanced 31 feet on reef averaging 36 inches in width and lSJdwts in value. No. 13 Level Winze al 2630 advanced 20 feet on reef averaging 21 inches in width and fifjdwts in value. No. 14 Level Drive North advanced 39 feet on reef averaging 24 inches in width and 19dwts in value. No. 14 Level Drive South advanced 45 feet on reef averaging 22 inches in width and ITldwts in value.

ALEXANDER MINES.

Repuort for August:—No. 6 Rise: This was extended a. further 34 feet, ' making the total distance 74 feet above No. (5 .Level Caps. At the above height a connection was made to the bottom of the winze sunk from No. 5 Level. At the junction of the rise and the winze preparations have been made for driving an intermediate level north and south on reef. In the south end of the drive the reef has an average width of 2ft 6in, and looks like widening. On the north end the reef is 2ft 6in in the top of drive and about Gin in the bottom. Assay values not yet to hand. No. 5 Winze: This was extended a further 7ft, when it broke through into the rise from No. G Level. No. G Drive: Driving north was resumed with three shifts after the winze and rise were connected, this face being extended 24ft for the week, making 6Gtt from main crosscut. At a point about 50ft north from the main I level a largo boulder of quartz was met with, in the reef track. The country has been fairly dry, hut now there is a. fair amount of water coming' oyt of the face. Aerial Tramline: An extra trestle has been erected and' the working of this line is improved. Mullocky Creek Section: The slip at the mouth of this drive has been clearel, and the entrance re-timbered. There is a little quartz showing in places along the level. Apparently, the widest stone has been stoped out, leaving reel track in several places. BRITISH SHIP BOMBED, the month an accident happened through the electlic motor driving the

compressor apparently short-circuit-ing, which caused a lire and dost roved the motor, rendering the compressor out. oi action. The latter equipment is undamaged. A now motor is being procured, ami will be installed in apa. fortnight's time. In the nieanhmo some work is being done in ■the mine on hand steel until the rock Jlnlhng machines are again in opera1M PE RIA LSM E LT INC (Reed. Sept. 7, 1.30 p.m.). LONDON, September (>. Imperial Smelting preference dividend is one and a-quarter per cent., making four and a-half per cent, for | the year. It was announced that the !