COMMERCIAL

Star (Christchurch), Volume XLIV, Issue 644, 23 December 1932, Page 8

COMMERCIAL

ALEXANDER MINES. Per Press Association. RKEFTON, December 22. Alexander Mines clean-up for December:—Four hundred and eleven tons of ore crushed for 29Soz 13dwt of melted gold. Cyanide, 278 tons of sands treated for 970 z 14dwt of bullion. Estimated value, £ISOO, exclusive of premium on sale of gold abroad and premium on exchange. MOUNT DAVID RETURN. Per Press Association. DUNEDIN, December 22. The Mount David Sluicing Company reports a return of 17 ounces for eight days’ sluicing. OXARITO RETURN. Per Press Association. DUNEDIN, December 22. The Okarito return for three and a half davs’ dredging ended to-day totalled 48oz Sdwt for eighty-eight hours’ dredging. WELLINGTON MEAT EXPORT CO. At the annual meeting of the Wellington Meat Export Co., Ltd., held on Tuesday, the annual report and balancesheet were adopted. The report stated that, after providing £BOOO for depreciation, there was a profit of £12,299 for the year. This amount has been carried to the credit of the appropriation account, bringing the debit of that account down to £41,669 “It has not been considered advisable to recommend the payment of a dividend on preference shares.” The retiring directors. Sir William D. Hunt and Dr C. Prendergast Knight, were re-elected. NATIONAL ELECTRIC. The annual report of the National Electric and Engineering Company, Ltd., Dunedin, for the year ended October 31 discloses a trading loss of £B7BI. The year commenced with the profit and loss account showing a debit balance f'f £4825, which was eliminated by transferring an equal amount from the reserve account, reducing it from £IO,OOO to £5175. After paying land tax, writing down shares held in New Zealand Insulators, Ltd., by £IOOO, and charging losses on trading for the year of £B7BI, the profit and loss account stands at £9816 in debit. Against this it is proposed to apply the balance of the reserve account, leaving an adverse balance in profit and loss account of £4641. The report states that the company’s assets have been valued conservatively, and ample provision has been made for; depreciation of plant, buildings, stocks, and furniture. GOLDEN DAWN GOLD MINES. The following is the mine report for the two weeks ended December 17, 1932: No. 3 Bevel—Sloping is still being carried on with machines working three shifts in five blocks on No. 1 reef. The reef averages 2ft 6in wide, and the ore still of very fair value. No. 3 Level— Stoping has also been carried on with machines working three shifts in three blocks on No. 3 reef. The reef here averages 2ft 6in "wide and the ore still of good value. The reef in the stopes in north block from main level is still improving, opening out in places to sft wide. No. 2 Bevel—Stoping has been carried on above this level in two blocks on No. 1 reef with machines working three shifts. The reef here averages 3ft wide and the ore of very fair value. Filling of the stopes from surface is still being carried on. GOLD. United Press Assn.—By Electric Telegraph—Copyright. (Received December 23, noon.) LONDON, December 22. The price of gold is £6 3s 4id per fine oz. DUNEDIN WOOL SALE. (Special to the “ Star.’’) DUNEDIN, December 23. Of 22,911 bales of wool offered for sale at the first Dunedin auction on Tuesday, 20,294 were sold under the hammer, and of the passings a fair quantity was sold subsequent to the sale by private contract. The clearance was exceptionally good on the whole.