BUTTER STEADIER

New Zealand Herald, Volume LXXIII, Issue 22517, 7 September 1936, Page 5

BUTTER STEADIER

NEW ZEALAND UP TO 115/SMALL PRICE RECOVERY CHEESE ALSO IMPROVES New Zealand butter in London is a shade firmer at 114s to 115s per cwt. The market, which was dull during last week, is now steadier. Prices for cheese also show a slight advance. White cheese is selling up to 71s per cwt. and coloured up to GBs. Merchants have received the following cablegrams, dated September 4, from their London principals:— Allen and Findlav, Limited, from Armour and Company, Limited, London. —Butter: The market is quiet. New Zealand, salted, 113s to Ills; unsalted, 114s; Australian, 114s; Danish. 1265. Cheese: The market is steady. New Zealand, white, 70s to 71s; coloured, 67s to 68s; Canadian, 71s. A. H. Turnbull and Company, Limited, from W. Wcddel and Company, Limited. —Butter: Danish, 128s; New Zealand, salted, 115s; Australian, 114s. Cheese: White, 70s; coloured, 68s. Both markets are quiet.

The Dairy Board's report for the week ended September 4 (with prices for the previous week in parentheses) is as follows: —

Butter.—New Zealand, salted, 114s to 115s, equals approximately 13.6 d f.o.b. (118s to 120s) j imsalted, 114s to 116s (119s to 120s). Deliveries: New Zealand, 1490 tons (last year, 21579 tons); in store, 4530 tons (last year, 4368 tons). Australian, salted, 113s to 115s (118s to 119s); unsalted, 113s to 116s. Deliveries: Australian, 727 tons (last year, 1430 tons); in store, 2237 tons (last year, 3288 tons). The market was dull throughout the 'week; steadier now. Argentine, unsalted, 106s to 108s (110s). Danish, 107s f.0.b., 128s spot (107s to 128s); Dutch, unsalted, 105s to 112s (108s to 112s)_. Estonian, unsalted, 108s (112s). Siberian, salted, 108s to 110s (112s to 113s). Ukranian, salted, 110s (112s to 113s). Polish, salted, 100s to 104s (105s to 110s); unsalted, 100s to 103s (105s to 110s). The market is quiet. Retail prices unchanged. Danish, Is 4d; New Zealand, Is 3d. The Imperial Economic Commit- j tee's estimated stocks of all butters, < 995,747 boxes (last year, 1,064,915 boxes). , Cheese.- —New Zealand, white, 69s 6d to 70s 6d, 7.92 d f.o.b. (70s to 71s); coloured, 67s to 68s, 7.62 d (67s to 685).. Deliveries: New Zealand, 15,951 crates (last year, 21,626 crates); in store, 63,634 crates (last year, 99,121 crates). The market slightly steadier at close. Retail price unchanged, Bd. Canadian, white and coloured, 71s to 72s (70s to 725); old season's white, 80s (78s to' 82s); ditto, coloured, 80s (765); c.i.f., 70s (72s 6d). Deliveries: Canadian: 9623 boxes (last year, 4155 boxes); in store, 67,512 (last year, 57,328 boxes). English finest farmers', 76s to 80s; English factory, 66s to 68s. The market is steady. The board has also received the following advice from its agents in Canada: Butter: New York, 35£ cents; Montreal, 25 cents. MINING NEWS GOLDFIELDS DREDGING DISAPPOINTING RETURNS Referring to the operations of the dredge in the Shotover River Mr. J. J. Marlow, chairman of directors, said at the annual meeting of the Goldfields Dredging Company, Limited, in Dunedin, that work in the gorge above the Big Beach had been disappointing. The indications from the material coming up in the dredge buckets were that good returns should have been won. After weeks of disappointment the directors had no alternative but to accept the dredgemaster's recommendation and turn the dredge back to the Big Beach claim. At the pres-" ent date the dredge was on its way back down the river, but the silt travelling had caused difficulties on this return trip, which meant that the dredge had to have a rising river to free the obstruction, and in the meantime the dredgemaster was carrying out some necessary repair work.

In answer to an inquiry regarding the future policy of the company, Mr. Marlow said lie had made every endeavour to sell the electrical equipment, but had been unsuccessful. The directors were taking steps to get in touch with likely buyers of the dredge, as the company had little more than IS months' work ahead of it. They also considered moving to a new claim.

YIELDS OF COMPANIES Alexander (Reefton) return for August, with July figures in parentheses: —Crushed 434 (500) tons for 210oz. 6dwt. (1970z. Bdwt.) melted gold; cyanide department, 277 (284) tons of sand treated for 490z. 7dwt. (50oz. sdwt.) bullion; total value, estimated at £7 an ounce, £1760 (£1585). In addition, 11.3 (13.1) tons of concentrates were saved, valued at £370 (£414). Argo (WestCoast).—Last week, 60oz. for 130 hours and 13,500vd5. Maori Gully (West Coast). —There was no wash-up last week. Central Shotover (Otago).—ll4oz. for a month's actual sluicing. Included in the return was a nugget weighing loz. sdwt. Mount Morgan (Queensland). —Four weeks ended September 2 (previous four weeks in parentheses): Ore mined, 24,938 (22,474) tons; concentrator treated 25,000 (22.450) tons, assaying 3.7 (3.91) dwt. gold and .06 (.74) per cent copper. Concentrates produced, 866 (906) tons, containing 2997 (2756) oz. gold and 143 (146) tons copper. Mossy Creek (West Coast).. —Last week, 41oz. 9dwt. for 119 hours and 10,990yd5.

MINING HOUSE CONCESSIONS Mining House Concessions, Limited (Christchurch), reports that the balance of purchase consideration having been paid to the original vendors on the Maerewhenua North property, all the gold produced from these areas now reverts to the company. Sluicing work on the Adams' areas for the benefit of the company commenced on July 22. Tho report for' tho period ended August 31 is as follows: —Wash-up No. 1 produced lloz. sdwt. of gold, estimated at £B2. Approximate mine expenditure (including mine manager's salary), £54. The water supply was very poor at the earlier part of that period, but has considerably improved since. The Fenning's areas are being worked on tribute and during the month produced soz. 19dwt. of gold, of which the company obtains onesixth, but is relieved from any production expenditure. WHOLESALE EGG PRICES. Wholesale egg prices, as announced by the Auckland Egg Marketing Committee. are unchanged, as follows:Hen, first grade, Is OJd a dozen; B grade, Hid; C grade, fcjd; duck, Is OJd, buying rates are unaltered at 9d a dozen for first grade duck and hen egg«.