COMMERCIAL

Poverty Bay Herald, Volume LV, Issue 17235, 15 April 1930, Page 12

COMMERCIAL

LONDON PRODUCE PRICES Tim Bank of New South W all's today received tlie following cable message from London ; "Wool sales closed wild a, strong market and prues at the best point of the series. Quotations: "Mutton: Wethers 4jd to bjd, poor demand; ewes, 3jd to sd, depressed; lamb, 3d to BJ,d, demand good for lightweights. "Iteef: to easier. "Pork: Bul to IOJd. "Cheese: While 70s to 735, colored 73s to 765; steadier. "Butter: 130 s to 1245; steadier." Dalgcty and Co. have received the following cable message from London, dated 14th inst. : —"London produce market.: Butter and cheese markets are linn. New Zealand tinest butter, 122 s to 124 s per cwt. ; Australian linest butter, salted 118 sto 122,s per cwt. New Zealand cheese, white 74s to 75s pur cwl., colored 77s to 78s per cwt." COAL OIL (N.Z.) LTD. Drilling for oil on a scale more up to date than any in the United States will have commenced at Omnia, near New Plymouth, before the end of the present, month, according to reports of the activities of Coal Oil (New Zealand) Ltd., whose silo at Omula was selected by the Elbof Geophysical Survey. The machinery can drill to a depth of 8000 ft., just a little under the depth of the world’s deepest oil bore. Under favorable conditions, it is possible for a machine of this type to bore 750 ft. in a day, but owing to the nature of the strata at Omata, it. is reckoned that under ICOft. a day would he a very fair average. An oil reservoir, capable of holding 250,000 gallons, was built on the property. This is sunk in the ground, and is (onstructed on concrete, being situated about two chains away from the actual bore.