COMMERCIAL

Greymouth Evening Star, 17 October 1939, Page 5

COMMERCIAL

WHEAT FOR BRITAIN. [BY CABLE —TRESS ASSN. —COPYRIGHT.] LONDON. October 15. The Wheat Control is negotiating for 1,000,000 quarters of Australian wheat between 17/- and IS/-, plus freight, and insurance charges. Wheat from all sources is arriving in Britain in good volume, while the British harvest is reported to be favourable. LONDON MARKETS IMPROVE. LONDON, October 15. Stock markets have made considerable progress towards normal and healthy functioning, the outstanding development being a rise in War Loan above the official minimum for the first time since the outbreak of war, the thawing out of gilt-edgeds, and the stimulated improvement in othev sections, including Dominion stocks. This improvement is not based on expectations of inflationary business activity, but reflects the plenitude of money and growth of general confidence, largely under the influence of speeches by Mr. Chamberlain, M. Daladier, Sir Kingsley Wood, Mr. HoreBelisha, and Mr. R. G. Menzies. Stock markets enjoyed the best week since the outbreak of war. The “Financial News” index on industrials was 2 to 4 points higher and investors are taking a more cheerful view of the future.

OPOSSUM SKIN SALE. Messrs Dalgety and Co., Ltd., report: The final sale for the season was held at Dunedin last Friday, when we brought forward a catalogue of over 28,000 skins out of a total offering of 64,000.- Our offering comprised ,skins drawn from Wanganui, Wellington Napier, Invercargill, West Coast, Taranaki, Canterbury and Gisborne with some good parcels from the Otago district. Compared' with last sale the quality generally showed little change, the proportion of second and third quality skins being high. It was expected that the very large offering would cause a sharp drop in values, as recent cables from London indicated the market was quiet. We are pleased, however, to be able to report a strong demand for all grades, but values were inclined to be erratic. Our passings were few, and we had a good clearance. The results of the sale must be considered very satisfactory, in view of overseas conditions, and returns should be quite profitable to trappers. Darks had' a better market, values all over appreciating 6d to l/-_ per skin. Reds and rustys were also in request and were dearer by 9d to 1/-. Blues and greys on the average were easier. Our extra super blues sold to 13/7, super greys 10/11, super red necks 7/5, super browns 6/10, and super blacks 6/4. Averages we obtained for representative consignments from various districts were as follow: —Otago, Gatlins and Wyndham 4/4 to 8/5, Southland 3/9 to 7/6, West Coast and Gisborne 3/1 to 4/-, Taranaki 3/7 to 5/11, Wanganui 3/8 to 6/-, Napier, Palmerston North and Wellington 3/4 to 6/6, and Canterbury 4/6 to 5/9. Some of our best sales were: Blues 31 at 13/7, 40 at 12/11, 95 at 12/7, 33 at 11/10, 172 at 10/11, 89 at 10/7, 34 at 10/5, 57 at 10/-, 172 at 9/11, 253 at 9/5; greys, 209 at 10/11, 331 at 10/-, 23 at 9/6, 255 at 9/-, 527 at 8/10, 106 at 8/6, 152 at 8/3; blacks, 235 at 6/4, 59 at. 6/3, 609 at 5/-, 115 at 4/11; browns, 138 at 6/10, 165 at 6/5, 395 at 6/-, 448 at 5/5; red necks, 182 at 7/5, 212 at 6/11, 311 at 6/10, 244 at 6/7, 395 at 6/6, 532 at 6/2, 730 at 6/-, 480 at 5/8. The prices realised were as follow: Blues: Extra super 12/6 to 13/7, super 9/- to 12/7. first 8/4 to 10/7, second 4/6 to 7/-, third to 3/7. Greys: Extra super 11/- to 12/3, super 6/7 to 10/11, first 6/4 to 9/-, second 4/11 to 6/-, third 2/7 to 3/6. Red necks: Super 6/7 to. 7/5, first 6/2 to 6/10, second 4/10 to 6/-, third 3/6 to 4/7. Blacks: Super. 5/8 to 6/4, first 4/10 to 5/-, second 2/10 to 3/-, third to 1/11. Browns: Super 6/- to 6/10, first 5/5 to 6/-, second 3/11 to 5/2, third 1/1 to 4/7. Slates: Super 3/11 to 5/7. first 2/11 to 4/1, second to 2/4, third to. 1/3. Small blacks: 4d to 9d.

Small blues and greys: 7d. to 2/4. Badly damaged, weevily, tanned, stale and rumped skins were difficult of sale, and at. times did not elicit a bid. PUBLIC TRUST OFFICE.

Estates of a value of £522,063 were reported and accepted for administration by the Public Trustee during the month of September, 1939. The total value of the estates and funds under administration by the Public Trustee on March 31, 1939, was £61,715,713, and the new business for the six months ended September 30 was £2,990,870. Grants of administration made by the Court in favour of the Public Trustee numbered 37 for the month. During the month 658 new wills appointing the Public Trustee executor were prepared for testators and lodged for safe custody, and 355 existing wills were revised to provide for changes desired by testators. The total number of wills now held in the Public Trust Office for living persons is 94,994.

STOCKS AND SHARES. WELLINGTON, October 17. Sales reported: Four per cent Stock 1958 £97/12/6. Maori Gully Bd. CHRISTCHURCH, October 17. Sales: Broken Hill Proprietary 74/2 (2), Ngahere 22/- (2). Sales reported: Zinc (late yesterday) 58/-. SYDNEY, October 17. Sales: Tooths 50/-, Australian Consolidated Industries Contributing 11/-, British Tobacco 46/-, Burns Philp 52/6, Electrolytic Zinc 54/-, Howard Smith 20/9. MINING j CLUTHA The Clutha River wash-up for the week ended October 13 was 64 ounces for 123 hours. OKARITO The Okarito wash-up was 340 z. 7dwt. for 120 hours. MATAKI The Mataki return for the week ended October 13, is 240- for 12? hours and 11,400 yards. GILLESPIE'S BEACH The Gillespie’s Beach return is 32 ounces Cdwt for 128 hours and 16,400 yards.

BUNDI DREDGE LOSS

The Bundi Tin Dredging Company, N.L., reports a loss of £3683 on gold dredging operations in New Zealand for the year ended December 31, 1938, against a loss of £10,350 in the previous 12 months. The value of bullion after providing for export duty and realisation charges, amounted to £7285. Mine working expenses totalled £10,192, and head office expenses £791. The dredge turned over 200,941 cubic yards in 1581 hours for a. recovery of 9230 z of gold bullion, the average value of the ground worked being 2.16 grains a cubic yard. The dredge was closed down from January 29 to September 12. Extensive repairs were effected during the period. Dredging was continued throughout the present year until the middle of August, when operations were discontinued owing to the dredge being unable to dig sufficient yardage to make it payable. In this period 16030 z were recovered from 279,416 cublic yards, an average of 2.76 grains a cubic yard.