NORTH BROKEN HILL

New Zealand Herald, Volume LXXVI, Issue 23504, 15 November 1939, Page 7

NORTH BROKEN HILL

IMPROVED RECOVERIES

CAPACITY OF NEW MILL SUPPLY OF LEAD TO BRITAIN A steady improvement in mct.il recoveries and treatment costs of North Broken Hill, Limited, has been shown since the end of the financial year in June, said the chairman, Mr. M. H. Baillieu, at the annual meeting in Melbourne last week. Average metal recoveries for the first three months of the current financial year, he said, were 93.2 per cent lead, 87.4 per cent silver and 86.7 per cent zinc. Average treatment costs were os 3d a ton. The directors expected a further improvement on these figures.

Mr. Baillieu said the capacity of the new mill had proved to be 15,000 tons of ore a week, or 750,000 tons a year, compared with the original estimate of 000,000 tons a year of 50 weeks. The first six months' operation of the new mill had shown that the heavy capital expenditure was justified. Keferring to the contract for the supply of lead to Britain, Mr. Baillieu said there was every indication at present that the company would be able to sell its full current production, provided that the Australian and New Zealand demand was maintained, and that the company was able to sell a small balance available in permissible oversea markets. All the silver produced by Broken Hill Associated Smelters Proprietary, Limited, was at present rcadilv marketable.

The Broken Hill companies . had adopted the policy of maintaining in Australia a minimum 12 months' supply of stores, essential to the economic carrying of the Broken Hill mining industry/This would be of much assistance in the trying times ahead.

BRITISH WOOL CONTROL NEW MAXIMUM PRICES ALL STOCKS ACQUIRED [from our own correspondent] LONDON, Oct. 24 A further step toward the complete control of the raw material end of the -wool textile industry has been taken by the necessary authority being given by the Wool Control to place the whole of what is termed "specified material" at the disposal of the Minister of Supply, and issuing a new price list, indicating the figure at which they will take over free stocks of wool and noils, in Britain, and the prices at which they will subsequently issue them to the trade for new business for the homo market.

The Wool Control have fixed their buying (or taking over) price of 64's at 29d and their issue price (for the home trade) at 313 d. Other counts are correspondingly lower. Ibis means that the control will take over "specified material" at 29d; re-sell it at the same price to traders who have old contracts to fulfil, and issue it at 31Jd for new business on home account. This will be a serious matter for merchants and topmakers who are in an oversold position, says the Yorkshire Post. Those wool merchants and topmakers who have been holding on to free stocks in anticipation of higher prices than those now approved being paid when the Wool Control took over all avool will be disappointed. According to the terms of the orders "specified material" means (a) any Merino or crossbred raw wool produced in any one or more of the following territories: —Territories and mandated territories of the Commonwealth of Australia, the Dominion of New Zealand and the Union of South Africa, and territories in America which are South of the Panama Canal (including the Falkland Islands); (b) any such raw wool as aforesaid which has been subjected to any of the following treatments or processes Washing, scouring, carbonising or willeying (by whatever name the treatment or process of willeying may be described in any particular district), but not to any cfther treatment or process} and (c) any tops, broken tops, noils and combing laps made from any such raw wool produced as aforesaid. These clauses, however, exclude specified material "when owned by a spinner or manufacturer for conversion by liim in the United Kingdom into v'arn and fabric." The order relating to the acquisition of stocks does not apply to British wool and tops —a further order dealing with which will be issued later.

CIVILIAN WOOL DEMAND HIGHER ALLOCATION LIKELY LONDON, Nov. 13 It is announced that. an increased allocation of wool for civilian consumption is probable. Bradford welcomes this owing to numerous civilian orders. At present it is difficult to the demand. Yarns are steady at fully late rates. SHEEP FOR ARGENTINE DISAPPOINTING PRICES [UY TELEGHArn —OWN CORRESPONDENT] CHKISTCHURCH, Tuesday Some of the breeds of sheep consigned to the Argentine recently for disposal realised disappointing values. Corricdalo 'rams and Southdown owes sold well, but the coarse wools were out of favour, except for one or two special rams.

Two choice Romney rams made the poor price of 1000 dollars (£BO, Now Zealand currency). Shipment to Beunos Aires entails £26 to £27, this including selling costs. The net return was therefore a little more than oOgns. Nineteen Southdown ewes, from two South Island breeders, averaged 522 dollars (from 422 to 600 dollars), (£4O, New Zealand currency). The net return would be round logns. The "Hui Hui" Corriednle stud sent four rams, which sold at from 850 to .3200 dollars, averaging 1537 dollars, equalling £'l22. Another consignment of six Corriedale rams made 3500 dollars, top price for the whole shipment. That figure represents £'26o, New Zealand. A total of 20 Lincoln rams forwarded averaged 766 dollars (£6O). Top figure was 2100 dollars, for a ram from W. M. Bishell, of -Marlborough (£162).