TIN MINES IN SIAM

New Zealand Herald, Volume LXXI, Issue 21926, 9 October 1934, Page 5

TIN MINES IN SIAM

EFFECT OF DEPRESSION RESTRICTED OUTPUT Some information regarding the progress and prospects of the tin industry in Siam has been given to the Christchurch Sun by Mr. E. W. Browne, engineer to the Siamese Tin Syndicate, stationed at Renong, who, with Mrs. Browne, is at present visiting New Zealand on leave. Mr. Browne has been six years in Siam. Before that he was engaged in platinum and gold-dredging in the Republic of Colombia, and before that he was in the New York Development Company, operating on the West Coast. He now has seven months' leave and since departing from Siam ho has travelled to England, seeing many Countries on the way, and now he has conio to New Zealand. Siam, Mr. Browne says, is a great tindredging place. All the ventures are on a big scale, but they have been badly hit by the depression. The output was restricted, but, unlike a European country, when this happened it was impossible to sack the native workers who depended on the mines for their living and had nowhere else to go. So their wages were cut in half, they worked half-time only and they were given free food. "You could not leave thein to starve," remarked Mr. Browne. Most of the labour employed at the mines is Siamese and Chinese, with a few Bengalcso. One of the difficulties of the quota on tin was that the big dredges soon filled it, and the smaller companies had to cease work. There was more tin in stock in England and-Atnerica than the world could use, but the price was now better, and it was hoped that restriction would soon be lifted. "The trouble is that the Siamese want to get rid of all foreigners. They think they can run the dredging concerns by themselves," said Mr. Browne. i "There have been a few revolutions recently in Siam, but they were not veryserious to Europeans. There is now a limited monarchy—the king lias practically no say in the Government. The better-class Siamese send their sons abroad for education. They come homo with big ideas, but with little to back them up. The Siamese are a queer race —but very good-natured, and they are good workers. The women are the best workers, however." As far as Europeans are concerned, rubber is the next biggest industry after tin in Siam, and rubber has also felt, the depression very badly. Acres and acres and miles and miles of rubber trees were going to waste, and it was the same across the border in Burma,. said Mr. Browne.

RENOWN COLLIERIES

CAPITAL REDUCTION PLAN APPROVAL OF SHAREHOLDERS Resolutions providing for a reduction in share capital from £150,000 to £102,000 were approved nt an. extraordinary general meeting of shareholders of Renown Collieries, Limited, held yesterday. As stated in the Hkiuld on September 12, ordinary share capital will be reduced from £120,000 to £72,000 by writing down the shares from £1 to 12s each. The preference share capital will remain unchanged nt £30,000 in shares of 2s Gd each. Preference shareholders have agreed to arrears of dividend being cancelled and to the cumulative dividend being reduced by 1* per cent to 7 per cent. No further meetings are required. At the annual meeting, also held yesterday, the report and balance-sheet, which have already been published, were adopted. The retiring directors, Messrs. D. Ho.ldernoss and E. N. Ormiston, were re-elected. BRUNNER COLLIERIES PROGRESS MAINTAINED The accounts of Brunuer Collieries, Limited, Greymouth, for the year ended June 30 show that, after making provision for debenture interest, £1915, and depreciation on buildings and plant and railway siding, £IBO7, there is a profit of £1097. This compares with £9lO in the previous year. The profit has been transferred to appropriation account, which has also* been credited with a refund of £956 obtained in respect of an overcharge on electric power supplied to tho company. A further £2OOO has been written off preliminary expenses and share issue and debenture issue expenses, leaving a credit balance of £3BB, which tho directors recommend should "be carried forward. The report states the position of tho company has considerably improved during tho year, owing chiefly to tho Wallsend-Taylorville Estates having agreed to take up 3300 shares in satisfaction of a liability for royalties amounting to £3300. This has reduced tho company's current liabilities to a very moderate sum, well covered by floating assets. The prospect of a dividend being paid to shareholders is now brighter than at any stage since the company commenced operations. Since tho end of the year tho output has improved. LOAN AT 3 PER CENT SPECIAL CONDITIONS With reference to tho announcement recently that the Otago Harbour Board had raised a loan of £IO,OOO at 3 per cent, the secretary of the board states that there were special conditions attached to the loan. It was for five years and the lenders are to be repaid £I.OOO every six months. Hd adds that it would be more correct to say that the board had accepted a deposit of '£lo,ooo at 3 per cent for five years to be repaid in half-yearly instalments of £IOOO each. So far no public loan has been offered on tho Dunedin market at under 3£ per cent. THE BREWING INDUSTRY OPERATION IN PAST YEAR Statistics relating to the brewing industry in New Zealand during 1933-34 show that employment was given to 807 persons, a slight decline on the previous year, while the wages bill receded b.v 7 per cent to £193,972. The cost of materials used in 1933-34 was £289,793, a reduction of 4 per cent, but the value of products was 10 per cent higher at £990,825. This was reflected in an, increase of 17 per cent to £701,032 in the "added value." Beer duty amounted to £661,216 compared with £659,468 in the previous year. Tho total quantity of ale produced increased by 20,160 gallons to 8,141,000 gallons and of stout by 12,733 gallons to 696,446 gallons.