COMMERCIAL

Northern Advocate, 2 May 1932, Page 10

COMMERCIAL

FROZEN MEAT SMITHFIELD MARKET. WEEKLY REVIEW. (United Press Association —By Electric Telegraph—Copyright.; f ONDON, April doc The weekly .(notations for th 3 undermentioned classes of frozen meat are based on actual sales of wholesale quantities of carcases of mutton or la hi h or of quarters of beef delivered to Gmithfiehl Market or London stores. They are conqvled by the Quotations Committee, Southfield: New Zealand .Frozen Sheep. —Can-, terhnry and North Island selected crossbred wethers and maiden ewes, 48 to 56lhs, 4ld; 57 to 641 ba, 4d; 61 to 721bs, 3 7-8(1; North Island crossbred wethers and maiden ewes, 48 to rniilis, 4 7-Sd; 17 to (>4lbs, 4d; 65 to 7:111)3, 3Jd; ewes under 4Slbs, 3 7-8,1; 4,8 to (!4ll)s, 3]d; 65 to 72lbs, 2‘fd. Australian , Sheep.—First quality crossbreds or merino wethers, 40 to 651 l>s, 3 5-Sd; 30 to 5511)5, . 3 7-8 d; ewes, 30 to 551bs, 3-Id. Argentine ' Sheep.—First quality crossbred wethers, 4? to 64 lbs, 4d; 65 to 721 b, 5, 3-Id. New Zealand Lar.ihs.-—Canterbury 361bs and under, 7 1-Sd; 37 to 42lbs, 63d; 43 to 50lbs, lio-Sd; second quality, average 301bs, 6 5-Sd; other South Island brands, 361bs and under, 7d; 37 to 421bs, 6 5-Sd; 43 to_lolbs, ‘.’id; selected North Island brands, including Downs, 361bs and under,! l-8d; 37 to 421hs, 6 7-8 d; 43 to 5011)2, 6 5-8(1; second quality, average 301bs, 6 5-8(1; other North Island brand-’ first quality, 361bs ami under, 63d; 37 to 43 I llis, 6-Id; second quality, overage 30 lbs. i. id.

Australian Lambs.— Vi dorian. Ibsi quality, 361bs and under, 6]d; 37 to 421bs, 53d; other States, first quality, 301bs and under, 5 id, 37 to 421bs, sid; Victorian, second quality, 3ulbs and under. Gd; other States; second quality, "Gibs and under, 5.3 d; all States, third quality, 0 1-Sd. Argentine Lambs.—First quality, 361bs and under, 53d; 37 to 421bs, 53d; second quality, average 301bs, Od. Argentine Chilled Beef.—Ox fores, 160 to 2201b5, 5 5-8 d; ox hinds, 150 tc 2201b5, 5-Jd. New Zealand Pigs.—First quality, 00 to lOOlbs, average OOlbs, 5 1-Sd: 101 to 1201bs, sld. Australian Pigs.—First quality, 00 to lOOlbs, average 901bs, 5 1-Sd. All other sorts arc unchanged.

MINING NEWS. GOLD ON BEACH. . Several further goldmining claims have been pegged out on the beach to the east of Ashburton, where there lias been some activity of late weeks, following the discovery of gold in small quantities among the sand at high-water mark. Washing has been carried out with some success. Two men who have claims near the mouth of the Ashburton River have been washing out the sand recently. . For five days’ work they obtained nearly H ounces of gold, which cnn .be sold at abut £5 an ounce.

A NEW FIND. GOLD AT PIET PIET. It is reported that gold in apparently payable quantities has been discovered in a reef at the foot of the Euahine ranges, near Pohangina, ?#(> miles from Palmerston North.. This is the consummation of 12 years’ prosjmdIng by Mr Charles Foot, of Piri Piri, who lias always affirmed a strong belief that gold Avould be discovered in the ranges. During the past five years Mr Foot lias been assisted in his operations by Mr Weston J. Smith, of Palmerston North, and others, but it was only on April 21 that the searchers discovered what they regard ns a reward for their years of toil. Traces of gold, however, have often been discovered.

.'vu assay certificate was received last Friday from tbe director of tbo Waibi School of Minos, Mr A. 11. V. Morgan, stating that tbe quartz examined contained both gold and silver. A further quantity of tbe metal lias been* forwarded to tbe Government Mines Department, Wellington, for a report. Tbe prospectors sfate that they expect to secure gold on a payable basis* and that as tbe reef descends a much richer vein will be revealed.

WELLINGTON LOAN. RENEWAL INTEREST LOWER. Tbe Wellington City Council has a local 0 per cent. loan maturing on •Line L The amount is for £04,000, approximately, and tbe purpose of tbe loan, raised in 1920, was for general improvement. The council is inviting applications from holders to renew at the rate of 51 per cent., Interest, payable half-yearly, free of exchange in New Zealand.

BUTTER AND CHEESE. LONDON ADVICES. Messrs Joseph Nathan ami Co., Auckland, are in receipt of the following cable from their London principals, Messrs Trcngrousc and Nathan: Butter: Market firm. Now Zealand, 100/. The following cable was received this morning by the North Auckland Farmers’ Co-op. from their London agents, Messrs Andrew Clement and Son.—

Butter: Market quiet, New ‘Zealand, 100/ to 101/. Cheese: Market firm. New Zealand white 60/, coloured 61/.

GOLD AND SILVER. VARYING VALUES. LONDON, April 30. Gold is quoted today at £5 12/10 an ounce, compared with £5 13/4 yesterday, and £5 12/8 on Thursday. Sliver was quoted yesterday at ]6 15-16 d an ounce, spot, and I 7 1-16 d forward, compared with 16 7-Sd and 17d on Thursday. TREASURY BONDS.

BRITISH ISSUE. LONDON, April 30. The Treasury announces an nuliuiitetl issue, of .3 per rent. Treasury bonds by tenders by £IO,OOO or multiples thereof-. at a minimum price of £97 1 5/. The bonds will be redeemable at par by annual drawings, and their maximum life will bo ten years. EXCHANGE RATE, (British Official Wireless.) RUGBY, April J 9. The following rates on foreign exchanges were current yesterday, compared with cabled quotations on April 2S and par.— April 29 April 28 Far. New York, dol. 3.G55 3.03:7 4.Slid Paris, franc .. 92 7-8 92 7-S 124.21 Berlin, r.m. .. 15.375 15 3-8 20.43 Bombay, rupee- .17 03-04 .17 31-32 ISd. Shanghai, tael 20 1-8 20.25 Hongkong, dol. 15 3-32 15 13-10 Yokohama, yen. 21 15-10 21.25 24.58