COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

Greymouth Evening Star, 15 March 1948, Page 8

COMMERCIAL COMPANY AND MINING NEWS AND REPORTS

Grey River. —The Grey River Dredging Company’s returns for the fortnight ended March 10 are:—26l hours, 120,866 yards and 215.40 z gold. February totals: 388 hours, 144,151 yards, and 280,78 oz gold.—(P.A.) Ngahere.—The Ngahere return for the four weeks ended March 12 was 411 ounces from 149,584 yards worked in 351 hours.

Martha Company.—The following information has been cabled from London: For the period ended February 28 the mine operated 20 days, crushing 8732 tons of ore for a result of 1998 fine ounces gold and 15,799 ounces silver. —(P.A.)

Woolworths (N.Z.), Issue.—The board of Woolworths (New Zealand) has approved the issue, at a premium of 10s, of 311,304 ordinary shares of 5s each, to be offered to ordinary shareholders registered on April 15, in the proportion of one new share for each eight ordinary shares then held. The terms of issue are 15s a share in cash, and on application, to be received before July 15. Shares not applied for by that date, together with fractions, will be sold by the directors and the surplus proceeds paid to the shareholders concerned. The new shares will rank equally with the existing ordinary shares in respect of ordinary dividends declared after July 15.—(P.A.)