CLUTHA DREDGING COMPANY

Southland Times, Issue 23287, 25 August 1937, Page 3

CLUTHA DREDGING COMPANY

MANY WEEKS OF HIGH RETURNS (Special to The Times) DUNEDIN, August 24. , With a return of 380 oz for 133 hours work during the week ended August 20 the Clutha River Gold Dredging Company Limited, reached a record figure after a good many weeks of high returns. . , Three times in the previous tour weeks returns of more than 200 oz were obtained and it will be interesting to watch further results from this dredge in view of the progress that has already been made. The returns from a trial run less than four months ago until August 20 aggregate 21510 z which, besides bringing a substantial return to the company, will yield to the Government in gold export duty alone approximately £l3OO. The dredge is now operating about 20 chains below Butcher’s Creek and the company has rights for about 18 miles of the Molyneux River between Alexandra and Coal Creek. FOREIGN EXCHANGES (British Official Wireless) (Received August 24, 6.30 p.m.) RUGBY, August 23. The following mean closing rates of foreign exchange were quoted today compared with par:— Par Today Paris, fr. to £ 124.21 132 55-64 New York, dol. to £ 4.886 4.98% Montreal, dol. to £ 4.886 4.98% Brussels, belgas to £ .35 29.62 Geneva, fr. to £ 25.221 21.72% Milan, lira to £ 20.43 94 13-16 Berlin, rmk. to £ 20.42 12.39% Copenhagen, kr. to £ 18.159 22.40 Oslo. fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 26% Prague, kr. to £ 34.585 143 Helsingfors, m. to £ 103.23 226% Madrid, pesetas to £ 25.15 — Lisbon, escudos to £ HO 110 3-16 Athens, dr. to £ 875 54714 Bucharest, lei to £ 318.6 670 Belgrade, dinars 275.31 217 Rio de Janeiro, p. to milreis 8.892 4% Buenos Aires, p. to dol. 45.577 — Montevideo, p. to dol. 57 39% Bombay, p. to rupee 10 18% NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, announces • the following rates of foreign

LONDON MARKETS The Department of Agriculture has received the following cablegram, dated August 21, from, the High Commissioner for New Zealand, London:— Tallow.—The market is very quiet at about 6d below last week’s rates. Hemp.—Manila: The market is easier and values have declined. K grade for August-October shipments sold at £29. Sisal: The market is quiet but steady. No. 1 quoted sellers for August-October shipments is £27 5/-. New Zealand: There is nothing to report. Apples.—There is a fair demand and stocks are practically cleared. Prices are: Granny Smith, 10/- to 14/-; Dougherty, 10/- to 12/-; Sturmers, 6/6 to 9/-. METAL MARKET (Received August 24. 6.30 p.m.) LONDON, August 23.

THE WHEAT MARKET CARGOES FIRM AND PARCELS STEADY (Received August 24, 6.30 pun.) LONDON, August 23. Wheat cargoes are firm and parcels are steady. Futures.—London: August, 43/9; November, 42/9. Liverpool; October, 8/2g; December, 8/3£; March, 8/of. Chicago: September, 105 j cents a bushel; December, 106 J; May, 109 J.

exchange on a New Zealand currency basis: on Buying Selling London— £N.Z. to £stglOO T.T. O.D. 124 123/10/ 124/10/124/8/9 Australia— £A to £100 N.Z. T.T. O.D. 101 101 100/10/Fiji— £F to £100 N.Z. T.T. O.D. 90/7/6 90/7/6 89 89 New York— Dollars to £1 N.Z. T.T. O.D. 4.0334 4.0434 3.9963 4.0003 Montreal— . Dollars to £1 N.Z. T.T. O.D. 4.0323 4.0448 3.9974 4.0014 Austria— Schillings N.Z. to £1 T.T. O.D. - 20.90 20.91 Belgium— Belgas to £1 N.Z. T.T. O.D. - 23.657 23.668 Czechoslovakia— Crowns to £1 N.Z. T.T. O.D. - 113.97 114.02 Denmark— Kroner to £1 N.Z. T.T. O.D. 18.203 18.263 17.893 17.899 France— Francs to £1 N.Z. T.T. O.D. — 105.92 105.96 Germany— Relchmarks to £1 N.Z. T.T. O.D 9.892 9.897 Holland— Florins to £1 N.Z. T.T. O.D. 7.214 7.218 Italy— Lire to £1 N.Z. T.T. O.D. 75.96 76.01 JavaFlorins to £1 N.Z. T.T. O.D. - 7.190 7.194 Norway— Kroner to £1 N.Z. T.T. O.D. 16.182 16.242 15.892 15.898 Sweden— Kroner to £1 N.Z. T.T. O.D. 15.876 15.846 15.491 15.497 SwitzerlandFrancs to £1 N.Z. T.T. 17.357 O.D. — 17.362 Noumea — Francs to £1 N.Z. T.T. O.D. 105.17 105.21 Papeete— Francs to £1 N.Z. T.T. O.D. 105.12 105.16 Hong Kong— N.Z. fcence to 1 dollar T.T. 18 11-32 18 25-32 O.D. 18 5-16 18 25-32 India and Ceylon— N.Z. pence to 1 rupee T.T. O.D. 22% 22 21-32 22 11-32 22 21-32 Japan— N.Z. pence to 1 yen T.T. , O.D. Shanghai— N.Z. pence to 1 dollar T.T. 17% 17% O.D. •— ■a* Singapore— N.Z. pence to 1 dollar T.T. 34 23-32 35 13-64 O.D. 34% 35 13-64 Manila— N.Z. pence to 1 peso T.T. 29 49-64 30 17-64 O.D. 29 43-64 30 17-64 —

Metals are quoted as follows:— Aug. 19 Aug. 23. £ s d £ S d Copper414 Standard, Spot 56 16 3 56 9 Forward 57 0 714 56 13 114 Electrolytic 63 0 0 62 10 0 to 64 0 0 63 10 0 Wire bars 64 0 0 63 10 0 Lead71'2 101'2 Spot 22 9 41'a 22 5 Forward 22 11 1014 22 6 Spelter71'2 Spot 24 8 9 24 5 Forward 24 9 414 24 5 71' 2 TinSpot 265 15 0 264 2 6 Forward 264 0 0 262 12 6 Silver Fine, per oz 19 15-16d 19 15-16d Standard, per oz 211' 2 d 21 • —