COMMERCIAL

Greymouth Evening Star, 20 August 1940, Page 9

COMMERCIAL

RUBBER FOR U.SA.

I i [BRITIS’H OFFICIAL WIRELESS.]

RUGBY, August" 19. ,

As a result of negotiations between representatives of the United States Government and a representative appointed for the purpose -by the International Rubber Regulation Committee, an additional agreement has been reached for the purchase of United States’ organisations, through normal trade channels, of further stocks of rubber. The effect of this agreement is that as soon as the 150,000 tons of rubber provided for in the agreement of June 29 have been purchased, the American company, formed for the purpose, will increase its reserve stock of rubber to 330,000 tons for shipment to the Far East. This may be possible before December, 1941. The price f.o.b. will not be less than 17 or more than 18-4 United States cents per pound, for standard ribbed smoked sheet, packed in cases or bales,' at sellers’ option, with the usual differentials. AUCKLAND DEBENTURES. AUCKLAND, August 19. Steps to protect an overseas holder of debentures which it was thought might Have fallen into enemy hands were approved by the Auckland Electric Power Board. The debenture holder concerned was, until recently, head of a hotel in France. The board was advised by a firm of London solicitors that the securities had been deposited in a bank at Monte Carlo, and they were removed by the bank authorities to Bordeaux. The holder of the debentures was now in London, but it was feared that the securities might have passed into the hands of the enemy. The board approved arrangements made by the secretary to stop payment of the interest coupons, and to arrange for the Bank of New Zealand in London to pay the due interest to the man who should legitimately hold the debentures, subject to proof of identity and similar conditions. ARAHURA FAT STOCK SALE. There was a good entry of 55 head at the fortnightly sale held on Monday, sent in by Messrs C. H. and L. R. Gibb. There was a large number of buyers present, and a spirited sale resulted. A line of 32 bullocks averaged £l7/2/-, the top pen realising £l7/17/6, 12 heifers averaged £l4 10/6, the top price being £l6/2/6. The market price per hundred ruled at 48/- to 50/-, and in some cases slightly higher. On account of Messrs C. H. and L. R. Gibb, Messrs W. Jeffries and Co. sold as follows:--Eight bullocks £l7/17/6, 4 £l7/12/6, 2 £l7/7/6, 2 £l7/2/6, 2 £l6/17/6, 2 £l6/16/-, 2 £l6/12/6, 2 £l6/7/6, 4 £l6/7/6, 2 £l6/2/6, 1 heifer £l6/2/6, 2 heifers £l5/7/6, 3 ditto £l4/7/6, 4 ditto £l4/2/6/2 ditto £l3/17/6, 2 cows £1317/6, 2 ditto £ll/2/6, and 2 £8 17/6. On account Mr C. Fleming, 3 bullocks £l2/7/6 and 2 £9/12/6. STOCKS AND SHARES. WELLINGTON, August 20. Sales, reported: New Zealand Breweries 33/-, Broken Hill 41/6. WHITE’S ELECTRIC. White’s Electric: —Return for the week ended August 15: 30oz from 10,200 yards in 134 hours. BLACKBALL CREEK. Return last week: 40oz secured -in 120 hours. ARAHURA. The satisfactory working of the dredge is commented on in the annual report of Arahura Gold Dredging, Ltd., for the year ended March 31. Operations were commenced in August, 1939. and for the eight months to March 31a total of 11,3590 z of gold was recovered. The profit for the period from August 1, 1939, to March 31, was £69,789. The directors have transferred £12,419 to preliminary establishment and development reserve, £30,000 to depletion and depreciation reserve, and £lO,OOO to renewal reserve, leaving £17,370 to be 1 carried forward. In addition, £223 has been written off plant and machinery. The first dividend of 1/- a share paid in May absorbed £15,000. Gold tax totalled £15,970. Net proceeds from the sale of bullion were £98,627, and the amount expended on [working account was £26,735.