COMMERCE AND MINING

New Zealand Times, Volume L, Issue 11651, 16 October 1923, Page 10

COMMERCE AND MINING

WELLINGTON EXCHANGE. YESTERDAY'S SITTING. (3.15 p.m Call.) Prices of Investment and mining stocks yesterday were as follpw : Buyers. Sellers.

tEx div. Sales reported:—Bank of New Zealand, <£2 12s 6cl; Gear Meat Co., «£2 Is, £2 Os 6d SALES IN OTHER CENTRES. Pc- Pres? Association. DUNEDIN, October 15 Reported sale:—Gear Meat, 40s 6d. CHRISTCHURCH, October 15. Sales on ’ChangeNew Zealand Refrigerating, 12s; Kaiapoi Woollen, 10s 9d. Sales reported:—Bank of New South Males, £il‘j New Zealand Government 4$ per cent. Inscribed Stock (1928), j£97 5s and ,£96 15s; New Zealand Government 41 per cent. Bonds (1939), .£97 ss; New Zealand Government 4$ per cent. Bonds (1941), £O7 15a. AUCKLAND, October 15. Sales:—War Loan (1927), .£9B 10s; New Zealand Refrigerating, 23s 3d. Sales:—Bank of Australasia, £l3 sb; Kauri Timber, 28s Id; New Zealand breweries, 265; New Waiotahi, 7d; New \\ aiotahi (paid), 6d. SYDNEY WOOL SALES By Telegraph.—Press Assn.—Copyright. (Received October 15, 11 p.m.) SIDNEY, October 15. At the wool sales competition was animated, and good clearances were effected. Values were firm, with a tendency in sellers’ favour for medium merinos and all classes of crossbreds. Greasy merinos sold to 31id.

MINING NEWS 1 WAIHI PAST MONTH’S RETURN. ' The Waihi Goldmining Company during the period ended September 29th, crushed and treated 16,258 tons of ore, for a return of 5349 fine ounces of gold, and 44,947 fine ounces of silver. In the corresponding period of last year the yield from 15,347 tons crushed was 42900 z of gold, and 36,8050 z of silver. The following information has been cabled to the head office of the company in London : No. 6 level, north lode. —Driving northeast, the next 12ft assays 54s per ton. No. 8 level, south section of Royal lode: At 181 ft driving south has been commenced on the Edward lode. The first assays 11s 9d per ton, and the next 19ft 34s 9d per ton. The lode is about 3ft wide. No. 13 level, Martha lode: Driving east, the full width of the lode at 600 ft is 53ft, and the average assay value is 11s 6d per ton. No. 14 level, north crosscut: At 107 ft a mixture of quartz and country 3ft wide assays 2s 3d per ton. The country rock is hard. At 163 ft we have met a lode. The first 14ft assays 6s per ton. The course of the lode is 68 degrees (true) vertical. MOUNT LYELL MINING CO WORKS IN OPERATION. Following is the progress report for the fortnight ended October 3rd, 1823: Mount Lyell Mine.—Ore breaking in progress above base of open cut; tons extracted, 603. North Mount Lyell Mine.—Ore break*nK*n. Progress; tons extracted. 4725. IDoOft level, No. 22 rise to 51ft, through schist and pyritised quartzite; No. 23 rKe to sft, through t hard mineralised quartzite; No. 24 rise, commencing at No. 1 heading, lifted 2ft, through minera used quartzite; 1100 ft level, No. 9 crosscut to .77ft, through pyritised quartzite: No. 14 rise to 16ft, through pyritised quartzite; No. 15 rise to 12ft, through mineralised quartzite. Reduction Works.-One furnace in blast for full period; 5472 tons of blister copper were consigned to the refinery for tlm companys year ending September w>Rh, and 104 tons for the current year. I oncent rator. The miJl operated 286 hours, and treated 4452 tons of ore, rim. I™?"?. 8 ? 3 ton ? '. ,f flotati °n concentrates and 091 tons of jig concentrates, HOME MARKETS daily pkoduci:. rtui National Dairy Association of ..e-.v Zealand, Limited, have received the t'.llinvmK cablegram from their London a trice, dated October 12th, 1923: “Butter—-Market weak. Now Zealand salted, 190 s to 1925; Australian, salted Ibis; Argentine, I7«a; Banish, 202# ; : Dutch, 188 s; French, 196 a. ’i "f'heeso. —Mat ket slow, with no demand. New Zealand, white. 101 s to! lOJs; New Zealand, coloured, ]OS# to' 110,.'' lire ILtri!; of New Zealand, prodme de. )'•••• thh'hl. ha. rt-l'Uo! the fo'lnv.ni* a.I-

vice from its London office, under date 12th instunt;— “Butter—Slow. 190 s to 194 s per ewt ''Cheese —Steadier. 105 s per cwt. “Frozen meat—Mutton. market is quiet, with prices firm. The market for lamb is expected to go a little slower. Beef is in little better demand’. Wethers, light 7id to 81d per lb, heavy 64d to 7g(l; ewes, aid to Gjd; lambs, lOd to lid; laml>s, seconds 9Jd to lOd ; ox, hind's tfd to 4Jd, fores 24d to Sri; cow, hinds 3)d to 4i<l, fores 2id to 24d.” WOOL SALES. Dalgety and Co., Ltd., report having received the following cablegram from their London house, under date 13th instant : —Bawra wool sales at Hull of Australian crossbreds, 33,800 bales offered and practically all sold. Strong competition from Home trade and Continent. As compared with last wool sales closing rates at London, crossbred wools greasy, line quality 5 per cent, higher; crossbred wools, greasy, medium quality 5 per cent, to 10 per cent higher; crossbred wools of other descriptions, very firm.

£. s d. £ s. d. War Loans— Inscribed Stock (1939) 97 0 0 -- Inscribed Stock (193S) 97 0 0 — Inscribed Stock (1933) — 102 5 0 War Bonds (1941) 97 0 0 War Bonds (1939) 97 0 0 — War Bonds (1938) 97 0 0 — W a* Bonds (1930) 97 0 0 — \ ar Bonds 02 0 0 ?.0. Inscribed Stock (1927) — 98 15 0 Debentures— Wellington Gas 106 5 9 N.Z. Breweries — 101 10 ) Banks— Australasia 13 0 ot National — 6 ‘8 0 New South Wales 40 10 0 — New Zealand — 2 12 9 Now Zealand (new issue) — 2 n 6 Vnion 11 18 0 — Financial— GnkUbrough Mort. ... — 2 7 3 (las— Gisborn© 0 14 0 Wellington (.£10) 13 17 6 H 5 0 WeP’ngton (pref.) — 0 17 3 Insurance- — National — 3 18 6 Moat PreservingCanterbury F rozen (on!.) 14 17 6 — N.Z. Refrigerating (J!l) 1 3 0 — N.Z. Refrigerating (10s> 0 -2 2 Gear — 2 1 9 Wn. Meat Export (^3 12s <kl) 2 10 0 Transport— JTVddart-Parker (ord.) 2 1 9 ♦_» 0 6 I n on Steam (prof.) ... 1 0 5 1 V 8 Wool.en— Wellington (ord.) —. 9 0 0 W ellington (pref.) — 9 0 0 Coal— Westport — 2 1 3 Timber— Kauri 1 8 n 1 8 6 Borland OVBnen 1 13 6 Rotoiti i i 0 — Taringamutu i 12 6 — Miscellaneous— Australian Glass (ord.) 1 2 6 Burns Philp — 1 13 6 1 rown Brewery 2 14 6 — D.I.C. (pref.) — i i 0 Gates. Ltd — 1 0 0 Howard Smith 2 12 0 2 13 3 N.Z. Drag 3 5 0 N.Z. Breweries — 1 6 6 Sharland & Co. (ord.) 1 2 0 Shariand & Co. (pref.) 1 2 0 — W airarnpa Farm ers* tpief.) 0 16 6 0 17 3 Wellington Cordage ... Whiteorabe and Tombs — tl 0 0 — t3 15 0 W ilson's Cement — 1 9 i