COMMERCIAL COMPANY AND MINING REPORTS AND NEWS

Greymouth Evening Star, 18 March 1947, Page 4

COMMERCIAL COMPANY AND MINING REPORTS AND NEWS

Martha Mine.—The following information has been cabled to the London office of the Martha Company, Waihi: in the four-weekly, period ended March 1, the mine operated for 19 days, crushing 808 tons of ore for a result of 1988 fine ounces of gold and 15,341 ounces of silver. Associated Gold—Dredges of Associated Gold Dredges (N.Z.), Ltd., for the week ending March 15 recovered 109£ ounces from 69,744 yards in 298 dredging hours. Pat© Consolidated. —For . . three months to February 1, 1947, Pato Consolidated Gold Dredging, Ltd., dredged 4,799,000 yards for a recovery of 28,1890 z of fine gold, and recovered hydraulically 7540 z of fine gold, the value of the total production being 1,013,005 dollars (about £N.Z.312,340). During the same period Asnazu Gold Dredging, Ltd., handled 1,433,900 yards and recovered 70660 z of gold, equivalent to 247,310 dollars (about £N.Z.76,250). Taringamutu Totara. —Net profit of Taringamutu Totara sawmills, Ltd.. Wellington, for the year ended September 30, was £3106 higher at £4784, after providing £3655 more for taxation, at £6634. Steady dividend at 5 per cent, required £3OOO, and transfers of £450 to general reserve and £llOO to provide for contingencies were made. Carry-forward was £6993, against £6759 brought in, after deducting £139 underprovision for taxes. Farm earnings were £1490, an increase of £BB4. The directors reported that the bush owned by the two companies would be cut out in a very few years, and if no further suitable bush could be obtained the company would have to look to the farming side of the business to provide profits. Hume Pipe.—The directors of the Hume Pipe Company (Aust.), Ltd., have declared an interim dividend of 3 3 per cent., on preference shares for the hadf-year ended December 31, payable on March 19. An interim statement mentions that sales for the six months showed an appreciable increase in all Australian states, but that operations are still restricted by shortages in suitable manpower. Shortages of labour and materials are reported as even more acute in New Zealand. —(P.A.) N.Z. Drug Company’s Profit. —Record net profit of £87,117 was earned by Kempthorne, Prosser’s New Zealand Drug Company, Ltd., Dunedin, for the year ended January 31. This is an increase of £34,524 on the previous year’s result, and is £8699 more than the former record of £78,418 in 1940. Dividend, unchanged at 8 per cent (final 4| per (?ent),