COMMERCIAL

Northern Advocate, 5 November 1932, Page 14

COMMERCIAL

MINING NEWS j A PROFITABLE VENTURE. j FIFTH DIVIDEND THIS YEA IE The directors of Alexander Aline?., Ltd. (Roefton), have declared a fifth dividend for the current, year of Va share, free of income tax, on all shares. This represents fit,7so, and the total distribution since the beginning of the year amounts to £18,750. The latest dividend is payable on November 1", previous distributions having been made on January Hi, June 10, July 25 and October 17. The nominal capital of the company is £75,000 in one pound shares, 20,000 fully paid, and 40,000 paid up to 13/0. The total paid-up capital is approximately £OO,OOO. KING SOLOMON DEEP LEAD. (Per Press Association. —Copyright.) INVERCARGILL, This Day. The wash-up of the King Solomon Deep Lead Aline (Gore) for the past week totalled 87 ounces I pennyweight. Snowy River Report. Reporting to October 31, the engineer of the Snowy River Sluicing Co.. Ltd. (West Coast), states that all the contractors are now at work on the ■ company’s race, and are making good progress through good country. Prospects have been taken from the entrance to No. 30 tunnel, which is on the claim 40 foot above the claim bottom, and good gold has been obtained from the prospects. By carrying part of the ditching round the gullies, a considerable amount of fluming has been obviated and a considerable saving has been effected. SOUTHERN PRODUCE MARKET.

DISAPPOINTING SEASON. (Per Press Association. —Couyrigiit.) CHRISTCHURCH, This Day. Produce merchants have been engaged since mid-week with the animal conference and there has been no development to record in business or prices. The season is practically at an end, and it has been one of the most disappointing for years, particularly in the case of seeds. Small quantities of potatoes continue to go to Wellington and East Coast ports, but Auckland is now out of the market. The principal demand is for Dakotas, which are worth £7 10/- a ton, f.0.b., s.i., and when orders come to hand merchants are paying growers £ti 5/- on trucks for them, Sutton’s Supreme are worth £7 to £7 5/-, f.0.b., s.i., and White, £6 5/- on trucks. The price of the latter is £4. 10/- to £4 15/-, but few farmers appear to have more than very small lots. FLAX INDUSTRY. REPORT OF GRADINGS. Hemp graded for export from the Dominion last month totalled 2,704 bales, an increase of 1,040 bales on the quantity graded in the corresponding month of .1031. The totals graded at the various ports were:—Wellington, 1,872 bales; Foxton, 308; Bluff, 330; Auckland, 130; Pieton, 24; Blenheim, 28. The hemp was graded as follows, the figures for September 1 , 1931, being given in parentheses: Good, fair, S'S ( —); high, fair, 1,282 (198); low, fair, 590 (384); common, .544 (131); re.ieets, 254 (111); total, 2,704 (824).

The gradings of tow totalled SOS bales, a(i increase of 410 bales on the quantity graded in October, 1931. The gradings at the porta wore:—Wellington, 335; Bluff, 183; Waikuku, ISO; ,|Foxton, 70; Blenheim, .19; Picton, S; | Auckland, 4. The tow comprised:— i .First grade, 87 ( —); second grade, 494 (374); third, 220 (27); condemned, 1 . (21); total, SOS (395). There was no - stripper tow graded, and the only gradings of stripper slips took place at „ Bluff, where 18 bales were graded as against none last year. ZINC HOLDINGS. REDUCTION NOTIFIED. LONDON, November 2. Since the zinc cartel was formed, stocks in the hands of its members have been reduced from 200,405 tons to 154,014 tons. The reduction in the last three months has amounted to 13,103 tons. I i