MINERALS PRODUCTION.

New Zealand Herald, Volume LXV, Issue 19892, 10 March 1928, Page 9

MINERALS PRODUCTION.

NEW SOUTH WALES*FIGURES. GREAT IRON AND STEEL MERGER. A. and N.2. SYDNEY, Idwrch 9. The estimated \alue of the minerals won hi New South Wales in 1927 was £18,497,000, a decrease of £444,000 compared with 1926. The quantity of coal won last year was 11,000,000 tons, valued at the pitmouih at £9,782,000. This value, is the highest on record. The value of the output of silver, lead and zinc was £4,484,000, a decline of £1,264,000. The iron and steel manufacturing industryl continues to expand. The output from ores mined in New South Wales in 1927 was 119,000 tons, valued, at £654,000, an increase of £75,000, ■ compared with the previous year. • The yield of gold amounted to 18,032 fine ounces, valued at £76,000. - A new British-Australian company has beeii formed to develop the iron and steel industry at Port Kembla. Two leading British companies and two Australian companies are co-operating, end they will supply an initial capital of £5,000,000 to develop the industry. The total capital resources ".of the combined organisation will exceed £23,000,000. CANTERBURY MARKETS. HIGHER PRICES FOR OATS.

[BY TEtiEGKAFH. —PKESS ASSOCIATION. 0 CHRISTCHUROH, Friday, i The. main interest Of the week has been centred on the oats market. The cause is inquiry from Britain, and, to a smaller extent, the operations of local forward sellers to cover impending shipments. In regard to the inquiry from Britain, it is not known whether any actual business has been done, but the prospects have hardened the value of A Gartons, the grade wanted, by 2d a bushel within a few days. Quotations are 3s 7d to 3s 8d f;o.b., s,i., for • March-April, or equal to 3s to 3s Id on trucks. Growers locally are not offering oats very freely, mills for the most part concentrating on the threshing of wheat. However; "the disinclination to sell wheat at the current price and the hardening in oats may cause a change in policy- ' • i The price tor peas has sagged during the past few days. Very heavy quantities were sold forward to England some :time ago at as high as 76s and 77s a quarter (8 1-3 bushels), aud' this price to-day is 68s 6d, approximately a drop of Is a bushel. Home buyers have sold back at 6s 6d a bushel. There are no buyers, however, at 6s 6d for April and May.' Prices on trucks for these months are 5s ,9d a bushel. The reasons advanced "for the slipping in price are the carry-over in England and the| heavy' crop in Tasmania.

There has been a cessation of offers of wheat due to the fact . that most of the growers prefer to stock or to stack nntil the market steadies', and also to thft rain interrupting threshing. The barley market is very weak, and purchases have been made at 3s lOd on trucks.

There is a brisk business in seeds, which are going out freely in small lots. Machine dressed new season's cocksfoot has been selling at 12£ d per lb., but a 12d quotation was current to-day. Values at the bays range up to Bd. Perennial ryegrass is in good request at" 5s 3d, f.o.b.j s.i,, and Italian . is also., being bought. It is on the early side for much clover seed to be offered. Cowgrass and white , are worth 8d to 9d on trucks.

A steady run of inquiries from both Auckland and Wellington is keeping the potato market firm, particularly for " prompts." Rates for later months have also improved. A few lots have been bought for immediajte delivery at £6 17s 6d, f.0.b., s.i., but March figures are £6 10s or £5 5s on trucks. April delivery is quoted Vfc £5 10s or £4, and July-September at £6. f.0.b., s.i,; This month 200 tons have been sent North. Quotations for onions are unchanged, but the demand has slackened.

rubber Restrictions: BRITAIN AND AMERICA. (British Official Wireless.) - 1 {Received March 9, 5.26 p.m.), A. and N.Z. , BUG BY. March 8. Tiie Under-Secretary of Foreign Affairs, Air. G. Locker-L#i»pson, denied • in the House of Commons that in the last 12 moEifchs there had been any exchange of views with the Government of the United States about the removal of the restrictions on rubber exports from certain British colonies. FROZEN MEAT PRICES. LONDON MARKET VALUES. " Dalgety and Company, Ltd., report having received the following cablegram from their London house, dated March 8: — Frozen meat: New Zealand prime Canterbury lamb, 281b. to 361b., ,9 7-8 d ; . North Island, 9 3-8 d; Canterbury, 361b. to 421b., 9 7-8 d; North Island, 9£d; Canterbury, second 9d; North Island, BAd; Canterbury, 421b. to 501b., 9 7-Bd. The demand for New Zealand lamb is better. New Zealand prime Canterbury mutton, 481b. to 561b., 7id; North Island, 7d; Canterbury, 561b. to 641b., 7d; North Island, 7 6^d;'Canterbury, 641b. to 721b., 5Jd; North Island, s£d. The market for New Zealand is unchanged, and the demand is lair. Beef: Argentine, chilled, hinds, 6£d; fores, 4jd. Pork: English pork, 801b; to 1001b., lOd; New Zealand porkers, > 801b. .to 1001b., 6 7-8 d; 1001b. to 1201b., 6£d. LONDON WOOL SALES. The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from its London office, dated Afarch 7 :—The wool saleS list closed on March 5. Shipments by the Kimuera, Turakina, Tongariro, Noriolk." Matakana, City of Winchester, Surrey and Port Dunedin are available. FEILDING STOCK SALE. [BY TELEGRAPH. —PRESS ASSOCIATION. 0 FEILDING. Friday. At the Feilding stock sale to-day there Tvaa. a. heavy 'yarding of breeding ewes with a fair number of lambs. The number, of ewes offered seemed in exceaa of requirements and in some instances vendor#' reserves were in excess of buyers' ideas of value, with consequent passings. Fat sheep were in average supply and eold at .late rates. Prices were:—Fat lamb#. 21s 3d to 29s 6d; fat wethers, 22s 9d to 26s fid; fat ewes, 15s 9d to 25a Id; four-year ewes, 235; four and five-year ewes, 17s to 22s id; four and six-tooth and four-year ewes, to 235; good Rornney two-tooth ewes, 36s IQd; two-tooth eweß. 24a 6d to 32s 3d; failiKgmouth ewes. Bs' 6d to lis 0d; store ewes, 10s 3d; medium black face lambs, 13s to 13s 9d; Bmall lambs, to. 12s; white -face wether lambs, lis 9d; ewes, 16a . : A email yarding of cattle sold at late rates. PROPERTY SALES. Samuel Vaile and Sons. Ltd., report having sold at auction yesterday tp the mortgagees a house of seven rooms ,in St. LuKe 8 Road, Mount Albert, for £IOOO, and a farm of 27 acres at Whakatane for £IBO3. A lie use of fivo rooms at the corner of Rose Road and Sussex Street, was passed in.