COMMERCE AND FINANCE

Otago Daily Times, Issue 22284, 9 June 1934, Page 8

COMMERCE AND FINANCE

.■■ ♦ MINING ,/-.; THE GOLDFIELDS DREDGE The secretary of the Goldfields Dredging Company, Ltd., reports as follows: (Win* to the continued high condition '■■ «£ th« river and the succession of floods, the dredge has not been operating. Dur- - ing this period, however, good work has been carried out by the dredgemaster in extending the whole of the power lines to the Big Beach and in the preparation ".of the necessary anchorages for the dredge coing through the gorge. Dredging operations have now been resumed, and for the next two weeks the dredge will be operating in the straight portion of the gorge above Higher Tucker Beach. Advantage has been taken during the period that the dredge was not in operation to overhaul thoroughly all the plant, and unless conditions in the river through flooding are such' that the dredge will require to shelter, it is anticipated that the gorge will be negotiated in 10 weeks. Regular fortnightly reports will, be ' published as to the progress of the dredge in the gorge. BELL-KILGOUR COMPANY The secretary of the Bell-Kilgour Gold Mining Company* Ltd., advises that tne M-ash-up for the week ended June 8 amounted to 7oz 17dwt 12gr for five days ■ work. , BIG RIVER MINES The annual report of the claim manager for Big River Gold Mines, Ltd., states:— The management of the mine was taken over from Mr Lake at the end of November last; the work, being carried-out at that time was: Stoping m iso. 3 level south drive, on Jones' reef above JSp. 3 level,: and the re-lining of the shait from No. 3 to No. 4, .level.- This latter work was; completed to the top of the A o. 4 chamber. Since that time the shaft and chamber at No. 4 level have been completed and the No. 4 cross-cut .driven a distance of 270 ft from the shaft. . No. 3 east cross-cut was started and has-been ■ driven-a distance of 94ft, a total distance of 12Qft from the point of intersection of the No. 3 south level reef. Iron* the stopesin No. 3 south drive and Jones ree f— w hich appeared to be almost exhausted, continual prospecting has resulted in an output of 100 tons per month being maintained. The No. 3 east crosscut is in new country a» far as the upper ■\ levels are concerned, but should- cut quartz-bearing country proved by workings m the.lower levels. No. 4 cross-cut is being driven primarily to intersect the •lode formation stoped in No. 3 south level. A distance of 208 ft brought the race to a point vertically below the point ot intersection of the-reef in No. 3 level. The face has therefore been advanced 62ft in the underlie of the reef. It is almost impossible to determine accurately the total underlie east of this formation. A winze has been sunk from No. 3 level a distance of 55ft. This has only a slight dip to the east, but as the country for 40ft in the No. 3 level before reaching the reef is a (series of reef tracks, it possible that the winze has passed into ' the footwall of the main lode. Taking all the visible physical facts Jnto consideration it is evident that a further disi t'ance of'upward of 50ft to 80ft will have to be driven before the existence of the reef in No. 4 level can be definitely deter- . mined. ~ , . ;j GOLDEN DAWN RETURN For the 12 working days ended June 2 the Golden Dawn Mines treated 316 tons for a return of £1628, on a basis.of 17 2s per ounce » ~. , : ' DUBBO COMPANY ' !; Talisman 1 Dubbo-Mines report that 48 wet tons (equal to. 42 dry tons) were ; treated for an actual realisation of £205. MATAKI DREDGE v ; The following ig the official return of the Mataki Gold Dredging, Ltd.:—Yield, 38 ounces; hours worked, 132; yardage, 13,000. .-' ■ - "' ' , ~J; KING SOLOMON .RETURN V ,y iI'EK I'RKss Association.) '■' INVERCARGILL. June 8. ■The; return this week,"was 530 z ISdwt. \;-..■■ CANTERBURY MARKETS ;;I ..|P,E«i USITtn PBEKfe ASBOCIATIOS.) ■-'■■'The local potato position is a little brighter because' of wet weather delaying the diggings, and the f.0.b., s.i., price has improved to £3 15s per ton for prompts. Where potatoes have been dug it has taken a few days for.them to dry sufficiently, to. truck away.- A few days' fine %yeathef will allow 1 supplies to come to hand. The boat early in the week took 4500. sacks, and boat is loading to-morrow. Fowl wheat is dull of sale, ahd is quoted 3s'ld, and 3s lid, f.0.b., s.e. . Partridge peas are worth 4s 3d, f.0.b., s.i.:" for No. l's. . _ . . Oats are not inquired for. Nominal quotings are Is 8d and Is 9d for Algerians; A Gartons to Is lid, and B Gartons to Is Bd, all on trucks. There is little cocksfoot offering. Values are 9d to lOd per lb for farmers. Dressed ryegrass has eased off to 3s to 3s 3d and there is no inquiry for it. Cowgrass is worth 8d to 9d per lbj, and white clover Is to Is 3d to farmers. • Crops of both have been short and prices are so high for most seeds that buying is very restricted. PRICE OF FINE GOLD (United Press Association.) (By Electric Telegraph—Copyright) LONDON, June 7. Fine gold is quoted at £6 17s l*d per ounce. EXPORTS AND IMPORTS Exports for the four months ended April 30 totalled £23,866,051, as compared with £16,838,025 in 1935, £16,457,136 in 1932, £44,902,609 in 1931, £21,518,115 in 1930 and £29,700,258 in 1929, and for the year ended April 30 the total was £47,929,979. as compared with £37,346,667 in 1932-33, £36,707.555 in 1931-32, £38,325,186 in 19S0-31, £47.488,607 in 1929-30, and £56,096,794 in 1928-29. During the four months ending April 30 imports . from the United Kingdom totalled £3,996,615, or. 501 per cent, of the total, from Australia £851,267, or 102 percent., Canada £452,487, or 5j per cent., all British sources £0,934,267» or 743 per cent., U.S. America f 917,211. or 114 per tent.. Dutch East Indies £409.827, Japan v £150.568, Germany £15,919, Sweden £73,798, France £69,187, Begium £35,757, and Netherlands £35,295.■ Compared with the corresponding four months of last year, imports from the British countries ■ show fair increase, in the aggregate 12J per cent. Those from the Dutch East Indies nearly doubled, Japan 20 per cent, increase, Germany and Sweden light increase, Trance and Belgium decreased. The balance of trade with British countries was £13 % 000,Q00 in our favour, and ' with foreign countries £1,769,000 in our favour. REFRIGERATED TONNAGE The volume of tonnage recently built or now under construction for the Australian -artd'New Zealand chilled meat trade will, it id estimated, increase the insulated capacity on these routes by nearly 5.750,000 cubic feet. The first ship completed under the various programmes was the Port Chalmers, the refrigerated'equipment of which was supplied by J. and E. Hall, Ltd., of Dartford. The same firm is now busy, on a number of installations for the other ships under construction. Among, them, are the two vessels building 'by John : Brown and Co. and Swan, Hunter, and. Wigham .Richardson for the Commonwealth, and Dominion Line; two vessels for the Union-Castle Line, two for the Blue, Star Line| and three for the, Shaw'. Savill Line, all under construction by Messrs Harland and Wolff; the two ships being built by Workman Clark •• (1928), Ltd., for the Federal Steam Navization Company: and the Orient liner building by Vickers-Armstrongs, Ltd. These contracts cover a total of between 5.000,000 and 6,000,000 cubic feet of refrigerated space.