MINING NEWS

Otago Daily Times, Issue 22610, 29 June 1935, Page 11

MINING NEWS

GOLDEN SANDS ANNUAL REPORT. The annual report of Golden Sands, Ltd., which will be presented at the third annual general meeting of shareholders in Christchurch on July 10, states that only 487 shifts were worked during the financial year, a 8 compared with 771 mentioned in the previous report. As intimated at the last annual meeting, the balance of the area in the front leads had to be cleaned up, which, together with a small area acquired' during the year, occupied practically the whole of the period up to the first week in Marcl), 1935, when production ceased altogether, and the staff was concentrated on dismantling, shifting, aud re-erection of the pla'nt. At the date of the report, three shifts per day were being worked on the back leads, and already the first wash-up, including the opening up of the ground, had been published. The annual accounts disclosed a net profit for the year amounting to £1358 3s 7d, and the directors propose that the interim dividend of 10 per cent, paid in December, 1934, amounting to £7OO, be considered as dividend for the year, and that after various items, such ae writing off plant, provision for income tax, and directors' fees, had been deducted, a balance of £321 15s 6d be carried forward. GOLDFIELDS RETURN The secretaries of the Goldfielde Dredging Company, Ltd., report that adyice has been received from the claim stating that Boz 12dwt of gold have been obtained for 247 hours' dredging. KING SOLOMON MINE (Per United Press Association) INYERCARGILL, June 28. The wash-up at the King Solomon mine this week amounted to 58oz 15dwt. BRADFORD TOPS MARKET (United Press Association.) (By Electric Telegraph—Copyright.) LONDON, June 27. At Bradford there is considerable new business. Merino and fine crossbred seventies, 30d; sixty-fours, 29d; sixties, 27Jd; fifty-sixes, 19d; fifties, 14Jd; fortysixes, lljd; forties, IOJd. LONDON METAL MARKET (United Press Association.) (By Blectrlo Telegraph—Copyright.) LONDON, June ST. (Received June 28. at 10.15 p.m.) The following are the official metal Quotations:— Ton.

CLEARING SALE AT TAPANUI Stronach, Morris and Co., Ltd., report having conducted a very successful clearing sale at " Dalvey," near Tapanui, on Thursday last, on account of the trustees of John D. D. Rodger. The sale was held under wintry weather conditions, and, considering this, there was a large attendance of buyers from all parts of the district, as well as from the north and south. The .sheep flock was well known in the district, and the animals were a splendid lot and consequently sold under keen competition. The horses also met with keen inquiry, while the implements and sundries commanded good prices. Some of the prices realised were as follows: —Two-tooth ewes, 325; four and sixtooth ewes, 29s 6d; eight-tooth ewes, 24s 3d; full and failing-mouth ewes, 16s 3d; ewe hoggets, 255; two, four and six-tooth wethers, 20s 6d; nine-year-old gelding, £46; three-year-old filly (unbroken), £45 10s; nine-year-old gelding, £3B 10s; six-year-old gelding, £35 10s; five-year-old mare, £33; aged gelding, £2O; eight two-year-old steers, £3 2s 6d; four two-year-old heifers, £2; seven dairy cows, to £2 17s 6d.

Copper, spot .. .. S28 10 10% Fall £0 10 4% Copper, forward .. .. 29 4 4% Fall 0 8 m Electrolytic ipot .. 88 0 0 Fall 0 10 0 Electrolytic, forward .. 38 0 0 Fall 0 8 0 S3 0 0 Fall 0 5 0 13 13 9 No change Lead, forward .. .; 13 15 0 No change Spelter, ipot .. .. IS IT 6 No change SDelter. forward .. .. 13 IS 9 No change 329 18 9 Rite 0 S 8 Tin. forward .. .. 220 11 8 Blue 8 S S Fig Iron, home trade 8 T 8 No change Pig Iron, export s a 8 No change Antimony. British 76 10 0 No change Antimony, foreign .. 48 10 Unit 0 No change 1 14 6 No change 1 10 Or. 3 No change SUrer, standard .. .. SI l-10d Itlie 1-lfld 83%d Rlae l-16d