MINING.

Star (Christchurch), Volume LXVI, Issue 20485, 11 December 1934, Page 9

MINING.

Snowy River Sluicing Co., Ltd. YEAR’S ACCOUNTS. The second annual statement of accounts, together with the directors’ report, of the Snowy River Sluicing Company, Ltd., has just been issued. The annual general meeting is fixed for December IS in the board room at the Commerce Buildings, Hereford Street. The directors in their report state that an estimate of the quantity of wash sluiced away is 114,000 cubic yards, including 1500 cubic yards of bottom up to October 14 last. The amount of gold won to date is 161 Joz, valued at £llOO. As sluicing proceeded it was found that the rich ground at the bottom of the wash was riddled with tunnel-®, and workings of previous operators to an extent not conceived beforehand, as the entrances of most of these tunnels were covered with slips. It is therefore realised that much of the payable bottom has been treated by previous wo kers. Nearly all the gold is to be found within seven or eight feet of the bottorn. and it was unevenly distributed. The race has been a success in that it has supplied 20 heads of watfr practically all the time, even during the drought period, when other claims were short of water. The pressure, however, is insufficient for economical sluicing, causing a restricted radius of plav. The directors consider that the claim possesses many features highly favourable to successful working, notably a good water supply, loose compact wash with few big stones, and ideal conditions for disposal of tailings. Mr W. R. Crompton, the retiring tion olo1 '’ offer himself for re-elec-The accounts are for the year ending December 31, 1933. and the auditor’s certificate is dated August 3. 1934. The profit and loss account shows on side ’ waffes £978, directors’ fees £2OO, secretary’s salary £133, travelling expenses £47, legal expense £49, and with smaller disbursements, total £1586 „ . i cre<lit side shows proceeds gold £398, interest £64, fees £ll leaving a loss of £llll 16s 4d. The balance-sheet figures are- j \a. bilitles—Nominal capital. 600.000 shares at is, with allotted capital at £26.116 d a.. caUs . unpaifl £u2 °. and sundry creditors £143; total, £25,139 6s lOd 2P„. the sid ® are cash £250, proY riphts and privileges £H 575 ri6lT r Mn l £ l f 969 ' f ,P,': ellm ' nary expenses SiHf* sundries £2 21. Profit and loss debit account, January iou rice ♦ _ Which Is added a loss on”,he year’s working of £llll, bringing thi«* item to ?0 £25.13°/ 6 “loS: Rnd the assets total $ Bulolo and Placer Year. The accounts of Bulolo Gold DredgUlmited, New Guinea and Vancouver, for the year ended May 31, show a surplus on dredging account of 2,235.699 Canadian dollars (£447.140 at par) against 1,335,000 dollars (£267,000) in the previous year. Two dividends of 60 Sents (»■ M) a share required 918.000 dollars (£183,600), and after transferring 150,000 dollars (£30,0001 to thq amortisation fund a balance of 2,476.358 f° 11 . ars , ls carried forward! against 1,308,659 dollars (£261,732) brought forward An interim dividend >f 90 cents (3s 9d) a share for the cuurent year has been declared. Although t.'ie four dredges are now working. No. 3 began operations in November, 1933, and No. 4 not until August this year. Placer Development, Limited. the parent company, reports a profit of 120,--94 dollars (£24.119), compared with a loss of 40.784 dollars (£8157) in the previous year. Dividends for the vear amounted to 2 dollars 40 cents (10s) a share and a dividend of 1 dollar 80 cents (7s 6d) a share has been declared for the current year. During the year the company sold 9175 shares in Bulolo Gold Dredging, Limited, leaving a balance of 134.200 shares. Since April 30 a further 150,000 dollars were “received for the sale of the Btilowat-Burnside areas, of which 3750 shares were paid to Guinea Gold, N.L., leaving the company with 280.450 shares. With an Increase since the accounts closed, the authorised capital is 1,000,000 dollars (£200.000). Mahakipawa Goldfields, Ltd. Advice has been received from the nine manager of Mahakipawa Goldfields, Ltd. that the wash-up for the week was 220 z. This return has been obtained from small blocking strips in the old workings. Work in the main face will not be resumed until the new Matakl Dredge. AUCKLAND. December 10. The Mataki return for the week ended December 9 was 17oz for 123 J hours’ work. Gillespie’s Beach. DUNEDIN, December 10. Gillespie's Beach return for the past week was 20oz lOdwt for 135 hours. ASHBURTON STOCK SALE. (Special to, the •‘Star.”) ASHBURTON, This Day. Four full races of fat sheep were offered at Ashburton saleyard* today, when the sale, was conducted in hot, sunny weather. Prices and quality were about the same a« last week, but, because of continued hot weather, the lighter prime sorts were more in demand. Five heavyweight ewes on account of J. W. Wright (Winchmore) brought 17s 4d. and five on the same account sold at 15s 7d. Sales in prime light ewes were:—On account L. Robertson (NewUnds). 15 at 14,s (d; J. Gregory (Seafidd), 7 at 14s id; W. G. Marshall (Ashburton), 7 at 14s 7d; Capon s estate (Winchmore), 2 at 14s 7d. 5 at 14s Id and 1 at 14s 3d. A client received 14s 7d for eight and 14e Id for ™ ree - L, F* l l er "’eight ewes ranged from 13s lOd to 12s ?d. Capons received 21s 4d for four wethers- Llovd's estate (Coldstream) 21 si Od for ten. while a client got 21s lOd for four and J. Gregory (Seafield) received 19s lOd for two. Other wether prices ranged from 19s 3d to 18s Id. Some good lambs were offered, and \ £> ane i J * h * rby > 23s 10d for two! KfW fc £ five and 21 s I<* eight. L. Brown (Tinwald) received 21s lOd for three and .T. Good (Ealing) 22s and o'l. T'° Ur ? ther * brught 18s ,0d sold ?Sd aCCOUm ° f Cal,on '« ** ea sonpbly good beef was offerbest sales being cows at £6 10s and £6 2s fid. Other sale** fat cowl ranaged from £4 15s to £7. and fat heifers sold from £4 15s to £2 5s Salts ”L a, t " re . y-ere:—Heifers £2' 12s 6d and £1 16*-. vealer and empty cow 15«two rows with calves at foot, fl 15s and passed in at 7a »£. COW ' n pr " m

. . - ) High Commuswner 5 Cable from London. The Department of Agriculture he! received the following cablegnm. dnted December I. from the High Commiesioner {or New Zealand. London:— Tellow—Aauiet demand at Auction: 850 cask: offered. of which I“ sold It. 66 per cwt decline on the price] rulinc at lull lucuons. Present spot queutione are—Mutton: Fine. 22s to 22- Cd; fair to good. 11!: dark to dull. 17- ed to 1:: 6d. Beef: sweet end/or mixed. 213 66 to 22:: (air to good. 18' Cd to 20s ad: dnrk to dull. 17s to 18-. Mixed: Fair to good, 18: 6t! to 20- Gd: dark to dull. 17s to 18-. Gut. etc.. 16: to "a. Hemp—Manila: Market "My. with values unchanged. Sinai: Market firmer. Good business hen been done. February-April shipment sold at from £l4 53 to £l4 103. New Zelhnd: Merket unchanged. Eggs—Quiet demnnd. Belt eeller. colonial ,ellghuy dearer. Apples—Market steady. English lecondery lines clearing low prices. Cunadinn and A merican prices Ili'htly higher. MEAT TRADE. North Island Schedule. The (allowing it; the schedule of prices being paid for 12'. stock (or export in the .‘oth Island:— Per 1!) Lambs— d. Under 36“) ................. 7 37-42“) ... 6i 431 b and over ................ ‘ Second. ... 6| Wethere— Under 4811': .................. 5' 49-56": H 57-601) ...................... ‘I 65-721 h ...A.................. G Over nib . 3‘ Seconds . ‘ Ewes—Under {Bib . 3| 49-5611) .... II 57-641!) ...................... 2| 63-721 b ... 2| Over 72": .................... 2 Seconds 2 These rates represent price “on farm" in W'ellingion districts and "on hooks" in Hawke's Buy and Auckland. TALLOW EXPORTS. Exporis of ialiow to the United Kingdom and (‘oniinent from New Zegl-nd during November and for the five monihn ended November 30 are given in the following table compiled by Messrs Dalgely and Co.. Ltd.. Christchurch:— Nov. July- July-

GRAIN AND PRODUCE. Very little business is passing in the grain and produce markets, which will probably rem-in iifeieu until after the Christmas and New Year holiday-r. Fovrl wheat in still firm at trom as 26 to 3: 3d a bushel. to farmers. Late sown crops are badly in need of rain. and those which were sown in the. spring are showing the effect.- ol the dry spell. in some districts ryegr-ls ‘3an early crops of Algerian oat- are being cut. ‘ Following are nominal prices quoted ‘io be paid to farmers on trucks at country statinns. sack. extra uniels otherwise menlionedz—\‘K‘heut. Lain—Tuscan, a: lid: Hunters. is id; Pearl, ls ad. Fowl Wheat—as 2d to In 8d a bushel. Potatoes (Am-ii. May. June, :935. d!livery)——\‘i’liites. 45:: Dakota: and Su - ton‘s, 505. Ryexrass~PerenniaL 3a to ‘- id: Italian and W’eetern “'oithn. as to 8! Bd. _dCockstoot—Akaroa. 9d; Plainx. Gd to l l Ciovers—“‘hite. is to is 46: cow‘rass. 9d to Jod. Oats—Gurtona. is ad to 1: 10a: Algerians. is 7d to is sa: Dunn, ll 94 to 25 a bushel. according to quality. ("hafft—ZZ 7s 6d, Partridge Peas—es to 48 36. Linseed—£l4 a ton. Bran—Local, £4 10-: ehippinx. u in. ”Pollard—Local. £5 5-: shipping. N s. Flour—Lord. £l2 12:: shipping. Hi. 175. with the usual increment: (or smaller packinca. POULTRY AND EGGS. H. C. Smith. of the City Market. 1-!-ports a small entry on \Vedneaday. but extra large entry on Friday. Boiling fowl: during the lust. month have fallen 2s per pair. Duoklinxe. ‘olllflll ana good young cockereix firm; henl. light in 8d to 3‘ 3d. heavy breed- m 5- 9d: ducklings 4: ed to 7- 9d; Leghorn cockereia la 9d to 8- so; heavy breed- -- 30; [oslinza to 'l'! Cd; seen. to u; puliets to 8:; ext: 8d and 9d. 0

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