COMMERCIAL

Greymouth Evening Star, 4 November 1939, Page 5

COMMERCIAL

GRAIN AND PRODUCE

[PER PRESS ASSOCIATION.]

CHRISTCHURCH, Nov. 3

The following quotations Io farmers on trucks at country sidings, unless otherwise indicated, are supplied by the president of the North Canterbury Grain, Seed and Produce Merchants' Association.

Wheat—Milling, f.0.b., Tuscan 5/11; Hunters 6/1; Pearl 6/3. (Final payment of 3d a bushel on all wheat at the end of year).

Oats—A Gartons 2/9 to 3/-, B Gartons 2/6. Algerians 3/- to 3/9, Duns 3/6 to 4/6.

Ryegrass (good germination)—Perennial up to 5/6 (nominal). Italian up to 4/- to 4/6 (nominal). Cocksfoot—6d to 7d (nominal). White Clover—l/- to 1/3 per lb. Red Clover —Old season’s 4d to 6d per lb.; new season’s 7d.

Potatoes—£lB to £2O a. ton (nominal). Chaff—£4/2/6 to £4/5/- a ton.

Barley—Malting 4/7£d, feed 3/- to 3/6 a bushel, according to quality. Bran —Large £4/15/-, small £5/5/-. Pollard —Large £6/5/- a ton, small £6/15/-.

ROTOMANU STOCK SALE The National Mortgage Coy. report having held a satisfactory sale of cattle, etc., at Rotomanu on Thursday, when there was an entry of upwards of 180 head of all ages. The yarding consisted principally of store steers ranging from yearlings up to 2,3, and 4 year-olds. Forward 3 and 4 year old steers realised up to £9/7/6. 3yr store steers from £7/10/- up to £9 each. Two-year-old store steers from £6 up to £6/10/-. small 2yr steers from £4/15/- to £5. Yearling steers and heifers from £3 lip to £3/10/-. WESTLAND BREWERIES Net profit of £11,876 against £9983 in 1938 and £8446 in 1937 is shown in the accounts of Westland Breweries Ltd., for the year ended June 30, 1939. Gross profit was £25,486 against £25,526 last year and £20,885 in 1938. The directors in their report, say that trading has been up to that of previous years, but similar net results cannot be anticipated in the coming year because of increased costs of production and a probable decline in consumption. The amount brought into the accouts is £3lB, and after allowing for overestimates of dividend and income tax in the previous year,’ amounting, to £76, and setting aside £6260 for income tax and social security charge, there is a balance of £6OlO. From this sum it is proposed to allocate £156 in reduction of goodwill and to recommend to shareholders the payment of a dividend at the unchanged rate of 10 per cent., absorbing £5500, against £4362 last year, since when capital has been increased. This will leave a carry-forward of £354. Goodwill has been reduced from £7OOO to £4156 by application of the premium on the new issue of shares and the further amount reserved to be written off goodwill will reduce this item to £4OOO.

The retiring directors are Messrs M. J. Fogarty and Allan Smith, who, with the auditor, Mr. M. J. Phillips, offer themselves for re-elec’tion.

CARDIFF COAL COMPANY. Cardiff Coal Company, Ltd. —Registered as a private company, October 12. Office: Westport. Capital,, £1250, into 1250 shares of £1 each, subscribers: Seddonville —J. A. Mulholland 100, J. S. Simpson 50. Denniston —W. Boyd, 200, J. Boyd 100, H. Boyd 200, J. Allan 200, J. Allan (the younger) 100, A. Allan 50. Ngakawau—W. J. Munn 100. Westport—W. T. Slee 50. Picton —H. M. Blake 100. Objects: To purchase, take or lease, or otherwise acquire coal mines, iron mines, sawmills, toimber areas, and reservation and timber and mining rights, etc., and carry on business of coal masters, iron masters, smelters and engineers, etc., and incidental.

MINING. NEW RIVER. The New River return for the week ended November 2 was 20oz. from 7400 yards in 106 hours. WHITE’S ELECTRIC. The White’s Electric return for the week ended November 2 was 270 z. from 7000 yards in 108 hours. ARGO. The Argo dredge return for this week is 29 ounces, from 12,000 yards, treated in 126 hours. MARTHA. AUCKLAND, November 3. The following information has been cabled to the London office of the Martha Gold Mining Company (Waihi), Ltd.: For .the period ended October 21, 15,450 tons of ore were crushed for a result of 4010 oz. of line gold and 29,335 oz of fine silver. Crushing time was 20 days. NEMONA The Nemona dredge wash-up yesterday realised 17 ounces 17 dwts. The dredge is now cutting its way through some heavy pug across a passage, and it will be a week or ten days before this is left behind. NEW WELCOME. The New Welcome Gold-mining Company report for October. is as follows: —Main Crosscut: This has been extended GO feet, making a total of 743 feet from the portal. The country passed through has been soft sandstone and slate of a favourable appearance. At the 700 ft. point th-? strike of the country changed, conforming with the strike of reefs previously worked in this field. Tire pro-

scut face shows blue sandstone wiui quartz stringers and with water making. BIG RIVER. The Big River Gold Mines report for the week ended November 2 is as follows: —No. 5 level: North stope, stone 2ft Gin wide. No. G level: — Rise: Distance up for week 7ft; total 41ft. Shaft: Sunk 7 feet; total 37 feet. Battery; 21 tons of stone sent 1 to the battery.

ALEXANDER. ] The Alexander Mines gold returns for October are as follow: —Battery Department: 275 tons of ore crushed for 101 ozs 11 dwts melted gold. Cyanide department: 210 tons of sand treated for 40 ozs ISf dwts of bullion. Estimated value: £1,025. In addition. 5.5 tons of concentrates were saved, valued at £l5. Note: In' estimating the above values, gold has been taken at IGO/- per line ounce. The Alexander Mines report for October, is as follows: —No. 6 level: Rise advanced 8 feet, making 30 feet above the level. At 2G feet up, a leader of quartz 15in wide was encountered. Drive south was opened out from on top of the rise and quartz 52in wide was intersected. This was driven on north for 8 feet when the reef faulted and appears to be floating overhead in a northerly direction. Driving south was continued on reef averaging 3ft wide, but this has now faulted into the eastern wall. Stopingover this level continues on reef 3ft wide, lying fairly flat. Stoping: Has been carried on above No. 5 intermediate level on reef an average width of 3ft Gin. Two hundred and seventythree tons of ore sent to the battery for the month.