GOLD HIGHER STILL

New Zealand Herald, Volume LXIX, Issue 21359, 7 December 1932, Page 7

GOLD HIGHER STILL

OVER £6 10S IN LONDON QUOTATIONS FOR SILVER (Received December C, 8.05 p.m.) LONDON, Dec. 5 Gold is quoted to-day at £6 10s o>>d, compared with £6 9s 4jd 'on Saturday. Silver is quoted at 17 9-16 d an oz. spot and 17 11-16 d forward, compared with and 17d on Saturday. The quotation for silver at per standard o/,. is 17 9-16 d and at- per fine oz. 18 15-.16 d, compared with 17 9-16 d and 19 11-lfacl on December 1. WOOL IN BALES RECORDED TEMPERATURE AN AUCKLAND INVENTION A simple (fevice for determining the exact temperature inside a bale of wool, and thus eliminating tiro risks when wool is stored in ships' holds, has been invented by an Auckland engineer, Air. E. I'aton, who has. been working on the idea since last, April. Tho device consists of a special wire which is threaded through the centre of the bale and when each end of the wire is attached to a pyrometer, a measuring instrument registering in degrees I'ahrenlicit, the interior temperature of (lie bale is immediately indicated. It is known thai wool occasionally reaches the overseas market in a deteriorated condition, which must have been its slate at the time of loading. The Ilealotnoler, as the patent is called, is claimed to provide the necessary knowledge t<> prevent, unsound goods being exported in future. Besides wool, it can bo applied equally well to hemp, rice, wheat, sugar, coal, cotton and other produce. It should be a valuable means toward prevention of spontaneous combustion and consequent fires on board ship which have, in the past, caused enormous loss.

THE LONDON MARKETS QUOTATIONS FOR METALS ALL-ROUND DECLINES (Received December 6, 8.25 p.m.) LONDON, Dec. 5 Following are today's quotations on tho London metal market, compared with those of December 1 . Dec. 5 Dec. 1 Per Toil Per Ton £sd £ s d Copper, stan., spot . . 3L 0 7' 31 10 <4 Copper, stan., 3 mos. . 31 8 9 31 1G 10J "Copper, electrolytic . 3G 10 0 3G 15 0 to to 37 0 0 87 5 0 Copper, elect,, wire bars 37 0 0 S7 5 0 Lead, soft, spot . . 11 8 9 Hls 0 Lead, soft, forward . . 11 1G 3 12 3 9 Spelter, spot . . . . 15 3 9 15 1 3 Spelter, forward . . 15 10 0 lo 7 (> Tin, stan., spot .. 150 17 G 351 31. 3 Tin, stun.. 3 mos. . . 151 18 9 152 18 9 •American 5.12 cents a lb., compared with 5.18 cents on December 1. FACTORIES BUSIER NEW SOUTH WALES FIGURES ATTRIBUTED TO PROTECTION A statement has been submitted to the Federal Prime' Minister, Mr. Lyons, on behalf of the. Chambers of Manufactures showing the increased employment in certain factories in New South Wales during the last two years. It is contended that this increase has been due to tho tariff protection granted in 1930. The 142 factories reporting (including 51 new factories that have started since December, 1929, and which employ 1598 hands) employed 13,966 hands on August 31. 1932, compared with 8370 two years earlier; 10 factories employing 9844 hands reported neither increase nor decrease in the number of employees. Forty-two factories which employed 3851 hands in August, 1930, employed only 2684 in August, 1932, but it is asserted that these factories cater mostly for constructional and luxury trades.

Eighty-six factories report additions to plant totalling £359,203 in the two years and 53 factories, which in 1930 used Australian raw materials valued at £354,493, used Australian raw materials valued at £633,403 two years later.

N.Z. MALAY RUBBER LOSS BY OAMARU COMPANY [BY 'J'Kr.KOUAI'II —OWN COIUtESH INDENT] OAMARU, Tuesday The annual meeting of shareholders of the, ISew Zealand Malay Rubber Company was held this afternoon, Mr. R. Milligan, chairman of directors, presiding. In his address Mr. Milligan stated that owing tn the trees not having been tapped there was no income from sales of rubber and therefore, after allowing for depreciation, a loss for the year of £967 had resulted, most of it being the cost- of upkeep of the estate. Exchange on remittances to the East accounted for £ll6. Trees in the mature area of 534 acres had greatly benefited from the enforced rest, and higher yields would be obtained. In order to conserve funds the directors had decided to recommence tapping over a portion of the estate. While the immediate future of the industry was obscure, there was no doubt about its ultimate success.

The report and balance-sheet were adopted. Messrs. T. Watson and R. K. Ireland were re-elected directors. Appreciation was expressed of the easeful economy of the directors and of the work of the. manager and secretary. At a subsequent meeting of directors Mr. Milligan was re-elected chairman.

MEAT WORKS PURCHASED QUEE NS L AND I T.A N T A CQIJI RE D With the object of extending buying operations to North Queensland, lhom.is Borthwick and Sons (Australasia), Limited, has purchased the Boweri meat works. The price is not- distlosed, but the manager for New South Wales for the purchasing company, Mr. J. E. D. Bryce. stated in Sydney that negotiations bad been completed, and his company would operate the Bowcn works almost immediately. Thomas Borthwiclc and Sons (Australasia), Limited, has been prominent for many years iu securing British Army meat contracts. In February, 1932, it secured the bulk of tho War Office half-yearly contract of 6000 tons of frozen beef for tho Home command. In September, 1931, the company purchased the assets of tho Feilding' Farmers' Freezing Company, Limited.

The Bowcn meat works are owned by Bergyl Australia, Limited, and have been idle for some time. They have been purchased outright.

ELLERMAN LINES CAPITAL REDUCTION PLAN LONDON, Dec. 1 A petition confirming tho proposed reduction of capital of tho Ellerman shipping lines from £5,450,000 to £2,180,000 has been presented to the High , Court. The reduction is proposed to bo effected by returning £6 per share, to shareholders, reducing the nominal value of tho shares from £io to £4.