COMMERCIAL

Greymouth Evening Star, 24 March 1944, Page 6

COMMERCIAL

MINING The directors’ report for the year ending December 31 of Maori Gold, Ltd., states inter alia, that the accounts show a working profit of £779 4/-. Owing to breakages and annual holidays it was possible to carry on dredging operations for only the equivalent of 36 normal weeks during the year, for which the return was 1189 oz 13dwt. Owing to the hard and tight nature of the ground, repairs and replacements of plant and machinery were always likely to constitute a substantial proportion of the company’s expenditure. The Government had received during the year in gold export and war tax a total of £1482/12/3, and the price realised for gold sold for use in New Zealand had been adversely affected by reason of these taxes to the extent of about £3OO. Protests had been made from time to time regarding the direct tax on gold which in cases such as that of this company seemed wholely inequitable, but so far no redress had been promised. The dredging account of the balance-sheet showed repairs and maintenance at £3660/19/-, power and light expenses £1567, superintendent’s and dredgemaster’s salaries at £lO4O, and dredging I wages at £1639. The annual meeting of shareholders will be held on March 29. The net gold realisations were £9,751/14/-. f Maori Gold Limited.—The return this week is 79 ozs. 6 dwts. from 11.000 vards and 101 hours’ dredging. This includes 34 ozs. from a clean-up of the tail chutes. Dredging was discontinued yesterday for repairs to the gantry, which should be completed tomorrow.

NGAHERE SALE

Dalgety and Co. Ltd., report a sale at the above yards yesterday. The offering comprised mainly fat and forward cows and a considerable number of runners. Competition was only lair, and there were a number of passings. Our sales included the following: 11. G. Carter, 51 fat ewes at 18/6; P. D. Cook. 8 store pigs at 29/6; H G Carter, 12 cows at £6/12/6; Fred Donovan, 15 runners at £4/5/-; Estate T. S. Craig, 2 calves at 32/6 13 runners at £2/17/6, 2 cows at £5 17/6 and £ / ; J Shields, 2 cows at £8 and £5/12/6; W. Fisher, 2 springing heifers at £5/17/6; J. Blackmore, 6 p - 7/i9/R ei i S at £ ? / o I Z^ 6 ' 1 springer at £7/12/6, 1 cow at £6/12/6; Hill Bros cattlVat t £ 4 £9/2/6 - 7 18 - raos ' M ' S -