COMMERCIAL.

Grey River Argus, 9 February 1928, Page 8

COMMERCIAL.

The Public Trust. DECEMBER TRANSACTIONS. The following particulars of the loan transactions of the Public Trust Office and new business reported during the month ended 31st December, 1927, have been supplied by the Prime Minister (the Rt Hon J. G. Coates): —The amount paid out in settlement of new loans was £267,529, making a total of £2,072,869 since the beginning of the present • financial year on Ist April last. Further new loans to the atnount of £56,850 were granted making the total of new loans awaiting settlement £589,359, whi'lb offers of loans less than lhe full advances applied for amount to £117.441, a grant! total of £706,800. Applications for additional new loans amountirig to £524,404 are now under consideration. Considering the intervention of the Christmas holidays during the month under review, the amount of now business was very satisfactory, estates of a value of £414/144 having been accepted for administration. This brings the total new business for the nine months from Ist April last to £4,555052. The total business on hand on Ist April. 1927, amounted to £41,043,523. Neu wills dteposited for safe custody by testators appointing the Public Trustee their executor numbered 448, and the total now held is 56,922. ALEXANDER MINES. The report for January concerning the Alexander Alines is as follows: — No. 2 Level Stopes.—Stoping was carried out during the last week of the period, only a small amount of stoping being dofie. The lode shows no change in size or quality. No. 4 Level South— Driving south was continued after the holidays, and 20 ft driven, making a total from crosscut of 38 ft the drive has followed stone of varying widths up to 2 ft 6 ins. but is still underlying very flat. There is very little change 4 in the values since last report. Mullocky Creek South (Loftus Reef) —This Level has been extended 22 ft, making a total length ef reef showing of 40 feet. The drive has followed reef averaging 18 inches in width, with two feet showing in the fact. Gold has been seen in the ore at every breaking down, and some of the samples taken have given excellent results. Battery—Owing to the continued dry weather and the small tonnage crushed, no clean-up took place this month. LONDON WOOL SALES. Messrs Dalgety and Coy, Ltd, report having received the following cable gram from their London house, under t date of February 1: — Sales closed firm and active, with brisk comp tit ion. Good selection, especially for merinos. As compared with the closing rates of last series, New Zealand greasy none offered, equivalent to Australian sorts Id to l£d higher, scoured merino par to Ijd higher, greasy halfbred 2d to 24d higher, fine greasy crossbred Ijd to 2M higher, fine greasy crossbred medium to coarse lid to 2d higher, scoured crossbred 14d to 3d higher, slipe Id to 2d higher, lambs IJd to 2d higher. 109,500 bales offered, Continent have bought 52,000 hales. Home trade 38,000. America 2500, carried forward 13,000, of which 1800 were not offered. Total sold 93.000 bales. The following; is the range of prices:—Halfbred 56/58 good to super 28d, low to medium 23d to 27d, 50/56 good to super to 27|d, low to medium 21d to 244 d. Fine crossbred 48/50 good to super 22d to 25c1, low to medium 18d to 21 d, 46/48 good to super 204 d to 23d, low to medium 16d to 18|d, 40/44 good to super 174 d to 19d, low to medium 15d to 17d. Coarse crossbred 36/40 good to super 17d to 18d, low to medium 14|d to 16id. CONVERSION SCHEME. OTTAWA, Feb. 5. Tn view cf the easy condition of the money markets, the Minister of Finance (Air Robb) will ask Parliament for power to borrow half a billion dollars to .’.eet maturing obligations, and to purchase and withdraw from circulation Canadian securities. STOCKS AND SHARES. /AUCKLAND, February 7. Sales: South British 5.7/6. Reported: Northern Steam 14/9; Commercial Bank (rights) 7/-; Taranaki Oil 10/-; Ohinemuri Alines 7/-; Bank of New Zealand 59/-; P. and O. deferred stock £242.