GOLD DREDGING

New Zealand Herald, Volume LXXV, Issue 23104, 1 August 1938, Page 7

GOLD DREDGING

AUSTRAL NEW ZEALAND DELAY IN CONSTRUCTION The directors of Austral New Zealand Mining, Limited, Cliristchurch, report for the half-year ended December 31, 1937, that after great delay in securing the necessary supplies of steel, the work of fabrication of the hull for the dredge commenced last September. The hull is expected to be completed and launched about the middle of August. It is hoped that the dredge will be ready about the end of April, 1939.

With almost every item necessary for the construction of the dredge there has been delay in delivery, and a serious excess on the cost estimated. This has mostly been duo to the world-wide rush for armaments and the consequent shortage of steel for industrial purposes; manufacturers, also, have been in ii position to exact high prices for many costly parts of the dredge equipment. Arrangements for finance have been made by the company, which will be in debt at the commencement of operations, but it is expected that the debt will be quickly retired. It has been decided to make application to the Government for a special dredging claim continuing upstream from the upper boundary of the first claim, the area concerned being held at present under prospecting licence. Owing to the great difficulty and cost of drilling in the river itself, this area is by no means fully tested, but such boring as has been done on the banks and on islands in the stream indicates

that it will be payable to dredge. WAGES FOR BAKERS CLAIM FOR NEW AWARD COURT RESERVES DECISION [by telegraph —own correspondent] WELLINGTON, Saturday The hearing of the Dominion bakers and pastrycooks' industrial dispute was concluded in the Court of Arbitration at Wellington yesterday, when the case for the employers was presented. The only matters argued were those of wages, starting time, daily hours, definitions and retrospective pay. The Court reserved its decision. Although the employers considered that there was no justification for any increase in wages in the industry as the price of bread was fixed, they were prepared to offor 6s a week in accordance with the Court's pronouncement, said Mr. D. I. Mac Donald, advocate for the employers. The employers were agreeable to the present rates of pay for youths who commenced work before 4 a.m., but suggested the introduction qf a substantially lower rate for youths who did not start until G a.m.

Tho employers wished to reduce the high rates of wages for girls in tho industry, for which it was contended that there was no justification. They were prohibitive, and operated unfairly against tho employer of labour in tho pastrycook and cake shop business as opposed to the family businesses.

A reduction in tho rates for journeywomen to three-fifths of the journeymen's rates was also sought. The present award rate was £4 2s Bd, but the employers asked that this should bo reduced to £3 (3s. Even at this, it was higher than the rates in other industries. COTTON, RUBBER, COPRA, ETC. (Received July 31, 5.5 p.m.) LONDON, July 30 (Quotations on July 23 in parentheses.) Cotton.—Spot, 4.99 d (4.87 d) a lb.; August delivery, 4.7Gd. (4.88 d). Rubber. —Para, 7Jd (7d) a lb.: plantation and smoked, 7 13-16 d (7 U-16d). Jute. —August-September shipments, £l9 10s (£l9 8s 9d, July-August) a, ton. Copra.—August-September shipments, South Soa, sun-dried £lO to London and Rotterdam (£lO 7s 6d) a ton; South Sea, smoked, £lO to Marseilles and Genoa (£lO ss); plantation, Rabaul, hot-air dried £ll to London and Rotterdam (£ll 7s 6d). Linseed 0i1.—£25 15s (£26 ss) a, ton. Turpentine.—32s \(32s) ; a cwt.