AUSTRALIAN TIN MINES.

New Zealand Herald, Volume LXVI, Issue 20259, 20 May 1929, Page 9

AUSTRALIAN TIN MINES.

PROSPECTS IN. QUEENSLAND.

BRITISH CAPITAL INTERESTED.

[FROM OCR OWN CORRESPONDENT.] SYDNEY, May 9. A revival of the tin mining industry is indicated by the bri.ef announcement in Sydney tnat a British financial corporation has been induced to invest a large sum in three tin fields in the; north. Recently, in England, the mirjes concerned were brought jindpr the notice of the Whitworth Finance and Mining Corporation, a combination which has Sir Treveyden Wynne as chairman of its board of directors, with the result that the firm's own manager was, sent to Queensland to make a-personal investigation. The corporation, which has a capital of £350,0 CX), decided to . commence operations immediately at Irvine Bank. Owing to extremely bad weather work has not yet been commenced at lvoorburra and Garrnmbah, the other two fields in which the company is interested. It is said that the interests of the corporation are hardly likely to stop where they are, and there is a possibility of it taking options in several other tin mines where no work has been done for some years. The general lack of finance has been the stumbling block. Investors in tin, it would seem, prefer to place their money with companies who operate outside Australia. In view of the labour problems of the Commonwealth this is not surprising. Irvine Bank is the principal mine of the three in which the English company is interested, although the others large "mines. It is expected that when the group is in full working order about 1000 men will be employed. There are already sixty men at Irvine Bank. It is considered that , two years will, elapse before the mines attain their maximum output. Ono of the mines at Irvine Bank lias a record of having produced during its life of thirty ,years—which lasted' until the commencement of the war—over 13,000 tons of tin concentrates, which was sold at an averago of £53 a ton. To-day it would be worth double that figure. .As it is, shareholders have drawn £185,000 in dividends from the min.e. •At present tho mine is full of water, and it will probably cost . the. British companv £6OOO to clear it so that the old workings can be inspected. Following the recent decision to work the Mount Isa and Mount Elliott mines again, Queensland is excited at the prospect of a definite revival of its lagging mining industry.

HEIGHT OF BUILDINGS. QESIRE FOR AN INCREASE. MOVEMENT IN MELBOURNE. [from our own correspondent.] SYDNEY, May 9. There is a movement in Melbourne po change the legal height of city buildings. The present limit is 132 ft., and architects and others are anxious to raise it to 150 ft. . , It is contended that the city has outgrown the present building regulations, which were framed to meet the needs of 15 years ago. Because of the relative smallness of the city there was little need then for skyscrapers. But things have quickly changed. Land has become more costly, there has been a. boom in big departmental- stores, and the tendency has been, to centralise business in the very heart of the city. The' electrification of the trains and the trams, providing speedy transit between suburbs and city, has helped in the, centripetal movement. So it is found now t'dt the buildings are too low, lifts 'too slow,' and that many buildings, even in Collins Street, require structural alterations to bring them up to date. The use of concrete for building construction has been an important factor in making the regulations antiquated. Basements, for instance, were practically unknown 15 years ago. But now every architect makes full use of the basement. It has proved to be as valuable as the first floor, and a scheme is being put forward for sub-basements.

STOCK SALES.

PRICES AT MORRINSVILLE,

[BY TELEGRAPH. —OWN CORRESPONDENT.] MORRINSVILLE, Saturday. The Farmers' Co-operative Auctioneering Company, Limited, reports having held its sale at Morrinsville - yesterday. There was a good yarding of cattle and sheep, and pig 3 were penned in average numbers. There was a good attendance of buyers and practically the whole-yarding changed hands at late rates. Quotations are:—Medium fat cows, £7 10s to £8 7s Gd; light fat cows, £6 12s 6d to £7 ss; for.vard-conditioned cows, £5 to £6 ss; store cows, £2 12s 6d to £4 15s; cows with calves, £7 to £lO 6s; Jersey and Jersey-cross heifer calves, £3 16s to £4 10s; bulls, potting. £2 10a.to £i 10s : Jerseycross, Holstein and Ayrshire-cross heifers, r.W.b., - 4i3 12a Gd to £4 12s. Wethers, store and forward, £1 8a to, £1 9s; fat: ewes, £1 8s; forward ewes, £1 4s 3d to £1 6s; aged ewes, 14s 3d to 19s; fat lambs, £1 6s to £1 9s; , good-framed > forward laxnbs,, £1 Is 3d to £1 ss; cull lambs, 12s' 6d to 14s 6d. Pigs: Choppers, to £3 15s; baconers, heavy, £4 Is to £4 7s; medium, £3 lis to £3 17s; light, £3 to £3 8s; heavy porkers, £2 16s to £3 Is; medium, £2 4s to £2 12s; light, £1 lis to £2; stores, £1 2s to £1 9s; slips, lis 6d to 18s Gd; w'eaners, 4s to 9s Gd. Dairy cows, close to profit, #to £ll 10a; Jersey heifers,' close to profit, £9 5s to £l4 10s; dairy cow 3, in milk, £8 to £l3.

VALUES AT WAIKIEKIE. [BI TELEGRAPH.—OWN CORRESPONDENT.] WHANGAREI, Saturday. Dalgetv and Company, Limited, "Wliangarei, report having held the opening sale in the new Waikiekie yards yesterday. Therewas a full yarding of cattle of all classes, and sheep were also penned in fair numbers. Owing principally to there being no competition from outside buyers, bidding was dull throughout, and prices for all classes were somewhat easier. Good quality cattle met with fair competition, but coloured and low conditioned were hard to nuit. Several lines of sheep were yarded, but in moat cases prices did not come up to vendors' reserves, and they were passed in. Several pens changed hands, however, at prices in buyers' favour. Quotations a , re: —Prime fat heifers, £9 ss; fat cows, £7 5s to £S 10s; light fat heifers, £6 10s to £7 10s; fresh-conditioned -2-year steers, £7 10s to £7 14s- 2-year coloured steers, £5 sa; yearling steers. £2 12s to £3 19»; IS-months S.II. heifers, £4 15s; cows and calves, £5 10s to £7; store cows, £3 5s to £4 10s; M.S. C.F. lambs, 18s Gd. DIRT TRACK RACING. Auckland Speedway, Limited, the organisation which will control motor-cycle racing on the City Council's new dirt track at tho Western Springs stadium, has taken steps to increase its capital to £2500 by the issue of £1 shares to that amount.. Tho foundation capital was £750.

PRODUCE AT PUKEKOHE. [BY TEX.EGJIAra.—OWN COiUtESTOXDENT. ] PUKEKOHE. Saturday. The Franklin Farmers' Auctioneering Co tup liny, Limited, report, that at their weekly tsey lwd «. email yarding of pins. Slips sold nt 14s Gd. Very heavy entrie# ii\ poultry were received. Prices were, however, in favour of the vendors. 'Aged birds sold; at -from Is Gd, to .lu JOd each: othei'S. from "ite to 3s each; pullets brought 8s: and ducks, 8s to 4s 3d. - Pumpkins and niamnvs wero offered in large Quantities, but brought, very low prices. ' Rhubarb broujilit from 3s to 4s a ■ doren bundles; carrots and parsnips,. Is a dozen bundles; and leeks, 7s Gd a dozen; kurnarns, Is 9d a sugar; hna's carrots in smaJV bags, Is 7d; local 'potatoes, 3s Id to 4s 3d a sugar bag; onions, at Id a lb, Fruit was in good suplily and sold freely. Lemorts brought 6d to !}<! a do?,en: passion fruit, 3d to 4d a dozen: apples, 5s to 8s Gd a case. A Quantity of plants «nc] shrubs were offered, but prices ruled low Furniture -was held over for a special sale.