COMMERCIAL Company and Mining News And Reports

Greymouth Evening Star, 13 October 1948, Page 7

COMMERCIAL Company and Mining News And Reports

Austral-N.Z.-— This company’s return for the 14 days ended October 18 is 159 ounces of bullion in 141 hours. —(P.A.) ..

Blackwater Mines Ltd.: The return for the four-weekly period ended October 1, 1948 was as follows:— Crushed 2102 tons yielding 1003 fine ounces of gold from all sources, including partial clean-up of Marcy tube mill. No. 16 level drive north was advanced 13 feet all on reef averaging 10.38 dwts. over 16 inches. No. 16 level drive south was advanced 16 feet all on reef averaging 4.67 dwts over 42 inches. No. 15 level rise 910 north was advanced 12 feet all on reef averaging 18.59 dwts over 45 inches.

South Otago Freezing.—The directors of the South Otago Freezing Company, in their report for the year ended August 31, state that, aftei’ making provision for depreciation and transferring a reserve for income tax and social security tax, the balance remaining (including the previous year’s carry-forward) is £24,028. They recommend payment of a dividend at the rate of 6 per cent, per annum, which will absorb £7956, and that the balance of £16,072 be carried forward. Prestige (N.Z.) — The company will pay a dividend of 6 per cent, per annum on preference shares for the six months ended September 30. — (P.A.)