COMMERCE AND FINANCE

Otago Daily Times, Issue 23044, 21 November 1936, Page 11

COMMERCE AND FINANCE

DUNEDIN MARKETS WHEAT, OATS, ETC. The milling wheat market Is unchanged. The season’s output has now practically passed out of first- hands. It is reported that the crops in Otago md Canterbury are looking particularly well, and that present indications are for an excellent harvest. Sufficient fowl wheat is on oner to meet the demand, which is somewhat limited. Prices for small lots remain unchanged at about 5s 3d per bushel, ex the store. Millers’ prices are as follows: — Flour.—2oo’s, £l3 15s 6d; 100’s, £l4 12s 6d; 50’s, £l4 17s 6d; 25’s. £ls 7s 6d. Bran, £5 5s per ton. Pollard, £6 5s per ton. Oatmeal.—2oolb sacks, £22; 2os, £24. The stores are now fairly well cleared of’ stocks of all grades of oats, and there will be little shipping from this port until the new season’s oats become available early in February. Millers are still prepared to purchase lines of good weight, at a price ranging round about 3s pqr bushel, on trucks, country sidings, sacks extra. A Cartons are worth 2s lOd and B’s 2s Bd, country sidings.. The nominal shipping value for A/s is 3s 6d, f.0.b., s.i., and B’s 3s 4d: The bulk of the prime quality chaff for the local market is still being drawn from Canterbury, with the demand limited to small lots ex the stores. Best quality is worth £4 10s per ton ex the truck and £5 ex the store, sacks extra. Medium quality, of which there is a fair amount on the market, is saleable at about £3,15s per ton. The potato market continues weak, with holders making every endeavour to quit their stocks. Both table and seed potatoes are being cleared at low prices, and the latter quality is being secured for use as pig feed. Any reasonable offer for table potatoes is accepted. Arran Chiefs may be quoted at £4 per ton. King Edwards are now practically cleared out for the season. -The demand for all varieties of seeds has been steady during the week. The overseas demand continues spasmodic, and only a limited business is reported as taking place with Great Britain. The strike on the waterfront in California has resulted in a blocking of business in that quarter, otherwise sales would have been made. The principal lines of seed, such as cocksfoot, white clover, and cowgrass, remain firm at the values that have been ruling for some time past. Wholesale prices are as follows: — Chaff.—Good bright oaten sheaf, to £5 per ton, ex store. Market slow. Potatoes, to £4 per ton. Market weak. Dairy Butter.—Milled bulk, to 8d per lb; separator, to Bd. Market weak. Bacon, Is Id per lb. i Ham.—Ordinary, Is 2d per lb; boneless, Is 4d. . , Canadian onions, 25s per cental. Market firm. „ Eggs.—Stamped, Is 4d; case, Is 2d to !s 3d. , , . ■■ Eggs were advanced in price by 2d per dozen during the week.FRUIT REPORT Supplies of New Zealand-grown apples are not over-plentiful. Most of the consignments for the local market are coming from the Canterbury cool stores. Prices in the northern province are higher than those ruling in Dunedin. Canadian apples are almost sold out at the marts, and there is no information at present when further supplies will be to hand. A consignment of Samoan bananas is due in Dunedin on Tuesday next, ex the Maui Pomare at Lyttelton. The bananas will be railed to Dunedin. Cherries and strawberries are now reaching the marts in larger quantity, and prices eased during the week. Supplies of tomatoes from Christchurch have not been so plentiful, and the market is firmer. Some splendid samples are being sent to the marts from local hothouses. - A small quantity of Jamaican oranges, transhipped at Auckland, came to hand on Thursday and was sold out of marts yesterday. Another shipment is due about the 24th, ex the Mahia. New Zealand-grown lemons are firmer in price. Further supplies of Californian are held up in the meantime owing to the strike of the workers on the Pacific coast. , ~ , Gooseberries are more plentiful and prices have eased. Rhubarb is meeting only a fair sale. Supplies of peas have been erratic, and prices advanced during the week. The quantities of new potatoes coming forward are steadily increasing. Wholesale prices are as follows: Apples.—Delicious, 8s to 10s per case; Stunners,'choice quality, 9s to 9s 6d; Wolseleys, 7s to 8s; inferior dessert and cookers, 2s 6d to 4s per case- Canadian Delicious and Jonathans, 21s per case. Bananas.—Ripe, 22s 6d to 25s per case. • Californian Grapes.—Reds, 26s to 27s 6d per case. Cherries, 7d to lOd per lb. Strawberries, Is 2d to Is 8d per pottle. Tomatoes—Christchurch hothouse, Is 2d to Is 4Jd per lb,; seconds, Is to Is Id; local hothouse, Is 5d to Is 6d. Jamaican oranges, 35s per case. Lemons. —New Zealand-grown, 10s to 12s 6d per case for extra fancy; others, to 8s; Californian, 52s 6d. Grapefruit, 32s 6d a case. Gooseberries, 2Jd to 34d ner lb. Cauliflowers, 7s to 9s per sack. Rhubarb, to Is 6d per dozen bunches; loose. Id to lid per lb. Carrots, 2s 6d to 3s 6d per sugar bag; new season’s, ,Is per dozen bunches. . , x New Potatoes. —Peninsula, 3d to 3sd per lb; North Island, IJd to lid. / Onions, Is per dozen bunches. Lettuce.—Choice, 2s per dozen; other quality, Is to Is 6d. Green peas, 3Jd to 5d per lb. PRICE OF FINE GOLD (United Press Association) (By Electric Telegraph—Copyright)

NEW GUINEA GOLD SHARES (United Press Association) (By Electric Telegraph—Copyright) LONDON, Nov. 19. . New Guinea Gold shares are quoted at 3s BJd. CANTERBURY MARKETS (Per United Press Association) CHRISTCHURCH, Nov. 20. Wheat continues to be very firm, and graded lots are hard to obtain. Millers are inquiring constantly, and the price has risen about a halfpenny since earlier in the week. Even under grade, where it is suitable, is being bought by millers, but the higher prices appear to have brought to light rather more wheat than was about a fortnight ago. Oats are also firm, the milling demand having kept the price fully up to recent rates. There has also been a slightly better demand for chaff, which remains firm The small seeds trade is quiet, and is likely to remain so until after Christmas. A certain amount of retail business is going through, but the markets otherwise are quiet.

LOCAL AND OVERSEAS MARKETS.

CHRISTCHURCH STOCK EXCHANGE THE WEEK'S ACTIVITIES (Per United Press Association) CHRISTCHURCH, Nov. 20. Trading has continued exceedingly good on the Christchurch Stock Exchange this week, but on the whole values have been most erratic following the more cautious atmosphere on the Australian exchanges. The main interest has been in chain stores, particularly in the Woolworths issues, which rose steeply till yesterday, when there was a sharp writing-back in the Sydney issue. Though the banking section did not attract a great deal of business, all issues but New Zealand were firmer, some substantially so. Loans were also inclined to harden under the continuation of encouraging news from overseas wool-selling centres. The turnover was £56,386, compared with £38,006 for the short week before. Government loans generally did not attract a great deal of attention, and the market was mostly weaker for this type of investment. The announcement of the comparative failure of the conversion operation has confirmed the hesitation that has been noticeable for some time. A sale of .the 1937 4 per cent, was made at £100,155, unchanged, but at £lO2 and £lO2 5s the 1946 issue was cheaper. The first sale of Tramway Board debentures for some time was recorded when a parcel of 4J per cent., due 1945, changed hands at £lO4 10s. There was a consistently good market for banking issues, and though not a great deal of business was done the demand remained steady throughout the week. The 10s Commercial of Australia were dealt in consistently, and showed a rise in trading of 7d to 19s 6d. Commercial of Sydney were done at £2l, an advance of ss. E..b and A., from which there were expectations of an increased dividend, were a shade weaker. National of New Zealand, with a sale yesterday at £3 3s, were up Is 3d, and dearer than since the beginning of the month. Two sales of New Zealand were Tecorded, one at £2 Is 3d and the other at £2 Is 2d, a loss of 4d on last week’s steady price. • In the loan section there was a good inquiry for • Dalgetys and for Goldsbrough Morts. Dalgetys were steady early in the period With sales at £lO ss, but at the end of the week the price was about 3s 6d higher. .Goldsbrough, Morts were erratic, blit improved about 3d on the week’s trading. New Zealand Guarantee Corporation were weaker with sales down 3d at 5s 2d. New Zealand Refrigerating shares attracted fair business and after an erratic start the contributing ended dearer. The paid shares were a little below fheir value last week. • Breweries had a very restrained market. Dominion were firm with- a sale at £1 16s, but New Zealand, though steady, were below the level established last week. Australian shares again contributed to the bulk of the business in the miscellaneous section. Values were erratic throughout and there was no definite trend. Some leading stocks retained their last week’s levels and even showed an improvement, but others were definitely weaker, Australian Glass, which have reached high levels, came back in the middle of the week, losing about 5s on recent sales to £4 12s 6d. British Tobacco were also weaker, though the loss was only a few pence. Both Broken Hill issues were erratic, but were on the average about Is 6d cheaper than last week. G. J. Coles had consistent dealings, and the price as consistently rose, finishing with a sale yesterday at £4 Is, the highest price for six weeks. Colonial Sugar were a shade weaker at the end of the period, but finished above last week’s rates. Both Electrolytic Zincs were erratic, but were on the whole firm. The most interesting development was the exceptionally keen interest taken in all the Woolworths ordinary issues, particularly Sydney shares. The price for these rose from £6 11s 6d last Saturday to a sale at £8 on Thursday, but there was a sharp recession yesterday, with sales at £7 13s 6d to £7 16s 9d, with the majority nearer the lower figure. The New Zealand issue continued the rise of last week and finished with a sale yesterday at £7 Os 6d. There was a consistent inquiry for the West Australian shares, but the price remained steady at £6 15s to £6 15s 6d. , „ In the mining section Mount Lyells improved steadily to gain about a shilling in trading. Mount Morgans rose more sharply from 15s to a sale at 15s 7d yesterday. AUSTRALIAN STOCK EXCHANGES (United Press Association) (By Electric Telegraph—Copyrightl SYDNEY, Nov. 20. (Received Nov. 20, at 11 p.m.) Further heavy dealing in tin shares on ’Change to-day carried many stocks to higher levels, and market rumours of the linking of W. H. Souls and Boots, Ltd., caused Souls to move to £4 Bs. MORNING SALES

, MELBOURNE. Nov. 20. Loans are easier and quiet, industrials remain firm, and there is a strong market for banks and Barriers. £ s. d.

LONDON WOOL SALES (United Press Association) (By Electric Telegraph—Copyright) ■ LONDON, Nov. 19. At the wool sales 8047 bales were offered, including 3068 from New Zealand. The number sold was 7732. Competition was strong for a good selection, which was offered at hardening rates. The Home trade, the Continent, and Russia wdre the chief buyers. New Zealand lots sold as follows; Slipe half-bred lambs, “T. 8.5., Canterbury,’’ top price, 20Jd; average, 18;,d. BRADFORD TOPS MARKET LONDON, Nov. 19. Bradford tops quotations: Merinos, 70's. 38d; 64’s, 36id; 60’s 35|d; crossbreds, 58’s, 30gd; 56’s, 26$d; 50 s. 19£d, 46's, not quoted; 44’s, not quoted* There is an all-round rise in quotations, and spinners are compelled to make a corresponding advance. Consumption is increasing. THE BRITISH LOAN (United Press Association) (By Electric Telegraph—Copyright) LONDON. Nov. 19. The British £ 100,000,000 2\ per cent loan, offered at 984. opened to-day. and the lists closed in 75 minutes. DAIRY PRODUCE (United Press Association) (By Electric Telegraph—Copyright) LONDON, Nov. 19. Butter. —Firm. Danish, 1225; Australian choicest salted, 109 s, unsallecl 116 s; New Zealand, 110 s to 118 s. Cheese. —Steady. New Zealand white 73s 6d, coloured 725; Australian, 72s 6d to 71s. Messrs A. S. Paterson and CoLtd., are in receipt of the following cabled advice from London:— Butter.—Market firm. New Zealand, 109 s, 110 s; Australian, 108 s, 109 s; South African. 106 s, 107 s; Danish market easy—99s; landed cost 120 s. Cheese. —Market easier. Wnite, 735, coloured, 725; Australian, 725, 71s. COMPANY REGISTRATION The registration of the following company is notified in the Mercantile Gazette:— „ Black (R. S.) and Son. Ltd. Registered as a private company November 11 Office: 114 George street, Dunedin. Capital: £ISOO into 1500 shares of £1 each. Subscribers; Dunedin—R. S. Black 1499, I. Greene 1. Objects: To carry on the business of wholesale and retail dealers in skins and pelts, furriers, manufacturers of and dealers in all kinds of leather, skin, and fur goods and incidental. PHARMACY ARRANGEMENT . (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Nov. 20. It is reliably reported that negotiations are in progress for a working arrangement between Boots Pure Drug Company, Ltd., and Pattinson, Washington H. Soul Company, Ltd., which explains the recent sharp rise in shares in the latter company on the Sydney Stock Exchange. Washington H. Soul have a number of pharmacy branches in the city and suburbs. DEVALUATION REMOVING TRADE BARRIERS Much benefit has accrued to world trade from the devaluation of the franc. For instance, in Australia there is no doubt that the increased French competition for wool which followed the devaluation was .due to the carrying out of the monetary policy. In the countries concerned it is recognised that devaluation will help export trade, and with the understanding between Great Britain, the United States, and France to do all possible to keep the exchange values of the three currencies stable in regard to each other, there is every prospect that trade and industry will continue to improve. Discussing the situation, the Economist points oqt that the developments have come at a moment when there is in many countries a psychological reaction against extreme nationalism and trade restriction, and in many States a definitely expansive economic philosophy common to Government and people. Nevertheless, the Economist considers, it would be unwise to look for rapid and spectacular transformations of the international scene. In the first place industries have been fostered and vested interests created by the prevailing system of high tariffs, exchange controls, quotas, and prohibitions. Such interests are notoriously prone to outlive the emergencies which call them into being. In the second place, political relationships have changed greatly for the worse since 1931. Industries have been concentrated on armament production, and in more than one country self-sufficiency based on the alleged needs of defence has become an obsession. These difficulties are formidable, but the Economist suggests, they should not be allowed to stand in the way of a determined effort by the countries which adjusted their currencies, to secure every practicable amelioration of trade restrictions among themselves. Without a reasonably free apparatus of payment and of valuation, trade cannot flow freely. These countries should take the lead in demonstrating this truth to the world, and of showing that facilities for trade bring a handsome dividend in increased prosperity. For the moment, however, the task of the world’s statesmen is to make the most of the opportunities which the events of the devaluation work have placed before them. Devaluation of the franc, even when coupled with an agreement between the three Western democracies, does not automatically solve the problems which are still plaguing the world. It presents opportunities of moving forward along paths that were blocked so long as a group of the world’s most important currencies were still stubbornly deflating There is now a better prospect than at any time in the past seven years of true exchange stability corresponding to a genuine equilibrium between the different national economies and not merely to the rigid imposition of an arbitrarily stabilised rate of exchange There is now an excellent prospect of the movement of domestic recovery, spreading to the countries which have hitherto experienced nothing but a steady restriction of employment. There is the possibility of a, real beginning being made with the task of removing the barbed wire entanglements which still cumber international trade. These prizes, great as they are, will not be gained without some exertion on the part of Governments. It will exercise all the talents and employ all the experience of the authorities of the three covenanting nations to preserve a genuine stability of exchanges, a moving equilibrium between disparate national economies. It will need constant watchfulness that the movement of expansion which can be expected in every country of the world docs not degenerate into mere inflation. Also the Economist might have added that courage will be needed lest the fear of inflation damp down the needed expansion. BOOTS (AUSTRALIA), PTY., LTD. A subsidiary of Boots Pure Drug Company, Ltd,, the English chain chemists, has been registered in Melbourne as Boots (Australia), Pty., Ltd., with a nominal capital of £2OOO. The subscribers were Arthur Phillips and H. C. Just, members of the firm of solicitors acting for Boots Pure Drug Company, Ltd. The objects of the new company set out in the memorandum do not include the retail dispensing or selling of drugs. The company intends to manufacture and distribute goods as wholesale druggists, and may conduct retail trade in proprietary articles and scientific and surgical appliances. With the exception of dispensing prescriptions and retailing drugs, the new company by its memorandum may retail many lines now handled by retail chemists, and may also trade in goods now handled by specialised dealers.

MINING NEWS WAITAHU GOLD MINING COMPANY FOURTH ANNUAL MEETING The fourth annual meeting of the Waitahu Gold Mining Company, Ltd,, was held last night, Mr B. H. Nees presiding over a small attendance of shareholders. MOTION OF CONDOLENCE Prior to the commencement of the business of the meeting the chairman referred to the death of Mr Isaac Patterson, of Reefton, who had been the company’s solicitor at Reefton and a director. A motion of condolence with the relatives was carried in the customary manner. CHAIRMAN’S ADDRESS After apologising for the absence of the chairman of directors (Mr J. R. Fairbairn), who had been called away to Christchurch. Mr Nees, in moving the adoption of the annual report, said that a profit of £1796 3s 6d had been made for the year, which was an increase of £435 on that for the previous period. This was a disappointing result on the company’s capital and not enough to enable the directors to declare a dividend. It was only the hard work and conscientious efforts of the claim manager (Mr P. Thomas) and the staff that enabled the company to show a profit, as the directors’ experience to date had been that the gold values were not nearly up to the values estimated by the promoters.. The value of the ground worked during the past year averaged only 3Jd per yard from surface to bottom, and the mining costs, including overhead, were kept down to 2£d per cubic yard, which was cheaper than the usual dredging costs. Few sluicing companies could show figures as low as these.. At the annual meeting, the chairman continued, reference was made to the installation of gold-saving tables for saving fine gold missed by the ripples in the main boxes.- These tables were given a fair trial, but the amount of gold saved by them was not even sufficient to earn the wages of their removal and re-erection each time the elevator was shifted. Needless to say, the directors had stopped using them. The water storage dam on the Pahiki Flat had been a wonderful success, and its cost was most reasonable. When the height of the dam walls was increased by 12 inches there would be sufficient water stored to enable the claim to be worked for 24 hours from the dam alone, draining off 13 heads of water per hour. The surface area of the water stored would be six acres. Mr Nees referred to the item shown on the liabilities side of the balance sheet as “loans to company, £1040.” Last May, when the debentures, £3OOO, fell due, the directors wished to pay them off and save the company 10 per cent, interest, but the company’s funds were short by £IO4O. The directors and the secretary lent the company the money to enable the debenture issue to be redeemed, and last week these amounts were repaid to the lenders. No interest had yet been paid by the company for this accommodation, as the directors preferred that the rate of interest be fixed by the shareholders.

" Industrial matters are prominent to-day,” Mr Nees said, “and for the first time in many years the employees in the gold mining industry have an industrial union. Our secretary acted as one of the assessors for the employers, and our wages in future are based on 16s per day minimum and a 48-hour week. This represents an increase in our wages cost of about £3OO per annum. We cannot cavil at these rates, but we feel very strongly that some assistance should be given by the State by way *of a reduction. in gold export tax to meet companies like our own, which so far have not been able to pay dividends to the shareholders. We are doing our utmost to bring this prominently before the Government. "You will note that the directors in their report recommend a reduction in both the number of directors and the amount of directors’ fees and that the secretary’s salary also be reduced. If you approve of this recommendation the company will economise to the extent of £l5O per annum.” ADOPTION OF REPORT Seconding the adoption of the report and balance sheet, Mr H. Halliday mentioned that the chief difficulty of the company had been the short supply of water. He said that the ground to be worked was much less stoney, and the company’s prospects were distinctly brighter as the elevating work would soon, it was hoped, be dispensed with and ground sluicing adopted instead. After a short discussion the motion was carried unanimously. ELECTION OF DIRECTOR It was decided to limit the board of directors to four members, and. the retiring director, Mr J. E. Wheeler, was re-elected. \ The remuneration of directors was fixed at £IBO per annum in lieu of £275 previously. GENERAL It was decided that the directors and secretary, who lent the company £IO4O, be paid 5 per cent, on the amounts placed at the company’s disposal. Mr G. S. Kirby was reappointed auditor. It was decided that a letter be sent to the claim manager (Mr P. Thomas) expressing appreciation of his services during the year. Votes of thanks were also accorded the directors and the secretary (Mr W. A. Mitsort). BULOLO DREDGING The anual report of Bulolo Gold Dredging, Ltd., which has its head office in Vancouver, stated that 121,352 ounces of fine gold and 52,600 ounces of silver were recovered from 10.915.000 cubic yards of gravel. The bullion realised 4,359.000 dollars, and an operating profit of 3,208,986 dollars (including 18,135 dollars sundry income), about £828,800 in New Zealand currency, was made, from which 217.000 dollars was transferred to amortisation reserve. At May 31, 1936, the company’s dredging areas in New Guinea were estimated to contain 204,000,000 cubic yards of 33 per cent, gravel (gold at, 35 dollars an ounce), with a net working profit of 50,000,000 dollars, after allowing for deduction of gold royalty and expenses outside New Guinea A moderate additional yardage of lowervalued gravel will be dredged and some hydraulicing ground will be developed. The first of the three new dredges is expected to be completed about next July. TALISMAN DUBBO MINES The Talisman Dubbo Company reports that 41 1-3 tons of ore were sent to the Golden Dawn battery for an approximate realisation of £353. BULOLO GOLD DREDGING. LTD. Mr Fred. G. Dunn, attorney tor Clutha Development, Ltd., has received the following production report from Bulolo Gold Dredging, Ltd.:— For the month of October the total gross production amounted to 18,1720 z of bullion, containing 12,6060 z of fine gold from 962,200 cubic yards. The estimated working profit was 87160 z of fine gold. The above production is equivalent to £110.302 10s, and the working profit to £76,265 on the basis of £8 15s (Australian) per fine ounce of gold. ICING SOLOMON RETURN (Per United Press Association) INVERCARGILL, Nov. 20. The return at .the King Solomon mine this week was 220 z lldwt. AUSTRALIAN PRICE OF GOLD The price fixed by the Commonwealth Bank for gold, including jewellery, lodged at the Melbourne Mint for the week ended November 6, was at the rate of approximately £8 2s 9d per standard ounce (22 carats), equal to a premium of 109.01 per cent. Payment is made according to the assay value of gold. The price was 8d higher on the week. The price per ounce fine was £8 17s 7d, which was up 9d on the week.

LONDON, , Nov, . 19 £ s. d. November 19 7 2 2i November 18 7 2 3 November 17 7 2 4 November 16 .. .. .. 7 2 3i November 12 7 2 6 November 11 7 2 H November 10 7 2 V November 9 7 2 8-i November 7 7 2 V

£ S. d. Commonwealth Bonds — 4 per cent., 1938 .. .. .. 102 3 9 4 per cent., 1935 101 17 6 4 per cent., 1957 100 7 6 4 per cent., 1959 100 10 0 4 per cent., 1961 100 15 0 Commercial Bank of Sydney 21 15 0 Bank of New South Wales 35 17 6 Tooths 2 17 0 Anthony Hordern 0 19 3 Austral Glass • 4 13 0 British Tobacco (pref.) .. 1 10 G Broken Hill Pty. (new) .. 3 12 0 Colonial Sugar 43 12 6 Electrolytic Zinc (pref.) .. 2 10 C Fairymead Sugar 2 0 0 Howard Smith 1 1 7i ADDITIONAL SALES Bank of New South Wales 35 17 6 Commercial Banking of Sydney • • • • 21 17 0 Commercial Bank of Australia 0 19 9 Bank of Australasia 12 15 0 Union Bank 10 12 6 Colonial Sugar 43 10 0 Burns Philp 3 14 0 British Tobacco . . . • 2 6 9 Tooths ■ • 2 17 0 Coles 4 2 0 Farmers 1 13 9 David Jones 2 8 9 Mauri Brothers 3 11 G W. H. Souls 4 8 0 Union Theatres Cpref.) 0 14 6 Woolworths (ord.) 7 14 6 Mount Lyell 1 16 9 Emperor 0 17 0 Tongkah Harbour .. .. 1 3 4J

Commercial Bank of Australia 0 19 10 National Bank (£10 paid) 15 18 0 Union Bank .. •. 10 8 0 Howard Smith .. .. 1 1 8 Carlton Brewery 3 3 6 Coles 4 2 6 Drue Houses .. • • i b 9 Australian Glass 4 12 9 Dunlop Perdriau 0 18 1 Goldsbrough. Mort I 17 6 Electrolytic Zinc 2 8 9 Electrolytic Zinc (pref.) 2 10 3 Mount Morgan .. .. 0 15 11 Mount Lyell .. • ■ 1 16 104 North Broken Hill 12 5 0 Broken Hill Proprietary 4 3 6 South Broken Hill 7 16 0 Zinc Corporation 6 2 0 Emperor 0 17 2 Loloma 1 3 18 0 Silverton Trams I 0 Hume Pipe 1 1 2 4 General Motors .. .. 3 6