HONGKONG DAILY PRESS
Finance and Commerce
IMPROVED RESULTS
REPORTED FROM MANY
PHILIPPINE MINES
Improved operating results, satisfactory development work, and Food progress in mill construction are the highlights of the mining news from the Philippines. Demonstration. Benguet Exploration and Capsay are among the companies reporting improvement in general operations and development work..
Reports from the mine camps generally presage another busy year for the Philippine, mining industry. Activity during the period
has served as a fitting climax to a very busy year.
Benguet Exploration Operating results at Benguet Ex- ploration during November were
company produced Pesos -22,292.60 from the treatment of 3.339.07 tons
pany is loading 1.100 tons on the
GOOD TRADE IN WOOD OIL
Large Shipments Made Abroad
CHUNGKING, Jan. 4 (Cen- iral) The war has noi seri- ously affected production and export of China's wood all. Instead, it is one of the lead- Ing articles upon which China is depending to balance her war- time trade.
3.5. Timanoek. The value of this
During the past 18 months. shipment is approximately Pesos 110,000. An additional shipment more than 1,000,000 quintals
better than those of October. The of between 1,500 and 2,000 tons will wood oil, valued at close to
be made on the s.s. Zuiderkerk on 000,000, or about January 8. This ship-abroad. ment will have an approximate consignments value of Pesos 100 per ton.
of ore." Recovery and production from the g was improved. Ton- nage of concentrate was raised 16
$2.38 to Pesos 101.55.
'H
In the mine, while there were sill some slides to be cleaned out, the atopes as a whole were in much better shape. The new drainį tunnel broke into the old tunnel] during the month; and the work of cleaning out the Intersection is, well under way.
every five or six weeks.
་་
of
$100,
have been shipped while many other Big Bre nwaiting the completion at the planned net-
to 28 and the grade from Pesos ducing around 50 tons of concen-
The company at present is pro work of communications.
Szechuen by virtue of its ex- climate, yields trate per day and after January 1,cellent soll and regular shipments of between 1,500 one-third or 430.000 quintals of and 2.000 tons will be made about the nation's annual output, Hunan ranks second with 300,000. quin- tals Kwangsi comes third with 180,000 quintals and Hupeh Gold production at Coco Grovetourth with 100,000 quintals. during November amounted to! The extensive plantation of "Pesos 105,000.83, from the handilis all trees was the result of many
of 335.965 cubic yards of gravel. provincial "campaigns This showed an increase over the years, of which the 5-year plan previous month, and would have far Kwangsi proved the most been better Had it not been for cessful time lost making repairs on one of the dredges. The second dredge however made good running time.
Demonstration Operations at Demonstration "Gold Mines during November were normal, but development work at lower levels continued to bring good results.
Coco Grove
The company produced Pesos
The dredge. Mary Angus, dredged 141,184.85 from the treatment of 155.765 cubic yards, from which 9,748 tons of ore. Recovery was Fesos 52.536.87 was recovered. The
89.05 per cent, while the mill heads
arca dredged was 71.045 square
averaged Pesos 18.65 per ton. feet, to an average depth of 50.2 Development advance for, the
fret."
month was 2,507.5 feet, of which; The dredge. Anne Petronella. 2.000.5 feet were driven in the De-handled 180.200 cubic yards of monstration mine and 507 feet in gravet..from whieh Pesos 52,483.90 the Benguet Goldfields property.
was recovered. The area dredged was 79.120 square feet, to an aver-
Capsay Mine
Underground development and age depth of 61.5 feet.
mill construction work on the Cap-
Water conditions in the pond of
say property operated by Mine dredge Anne Petronella, which is Operations, Inc. both showed ex-mpletely land-locked, have been cellent progress during the month really improved by connecting the of November. Estimates made on pond of both dredges by a water the positive and probable ore re-supply channel. serves in the mine by the engineer- ing staff show a total of 69,000 tons valued at Pesos 2.234,000,
One of the most important ac complishments in the underground development work was the driving
in
recent
suc
NARROW GAUGE SPEED RAILWAY FOR BRAZIL DUESSELDORF (Transocean) -Exhaustive and exacting trials have proved that" it is now possible for the Arst time. to build a one-metre narrow- gauge track for a speed railway with motorized vehicles attala- ing a velocity of 110 kilometres per hour,
Coaches of this kind built for these narrow-gauge railways have particularly constructed bodies and are equipped with motors of 800 h.. so that they are able to over- United Paracale
very steep gradients and' November production at Unted take sharp curves while travelling Paracale was Pesos 223,006.37, from jat a high speed 6,467 tons of ore treated; the put Railway equipment of this kind put was but slightly under the all-is now time record of Pesos 227,362 estab- Brazilian
come
being delivered to the Sorobanca Railway by Kasseler Waggonfabrik
of a drift through the high-grade lished in October. Recovery for the section on the 40 level of the Nabob the month averaged Pesos 23,556 | Gebrueder Wede.
vein:
Ore deposits were estimated on October 1 at 69,000 tons valued at Pesos 2,234,000, of which 22.420 Lens valued at Pesos 1,040,500 were con sidered positive ore and 46.500 ton valued at Pesos 1,193,800 probable
*ore.
Tamhis Gold
per ton, and extraction was Pesos 92.99.
NEW U.S. SUPER LINER
NEW YORK-Oficials of the Uni-
Development advance totalled 990 feet of capital and 354 feet of operating development.. or 1,344 feet in all. Of the capital advance 190 feet were in ore, as were 95 ted States Lines announce that the feet of the operating development. firm at present has under construc- On the Baluarte 300 level. 301tion a new U.S. $16,000,000 super- Tambls Gold Dredging Company drift north, an advance of 90 feet ner. To be launched in 1941, the reported during the week that its along the vein 6.0 fect wide was new American vessel will be named November production was Pesos made with high average, assays. "The America,” 14.600. Bullion production from 401 drift north. Baluarte 400, was the dredging of 32.464 tons of advanced 68 feet along the vein 5.5 gravel was Pesos 11,700, while Prens
2,900 worth of concentrate was -produced from 23 tons of ore.
Lepanto
Lepanto Consolidated
Mining Company shipped 2.124 tons of concentrate on December 22 on the 5.5. Paz. The concentrate Vas valued at Pesos 213,600. The com-
NEW PUPPET MOVE!
AGAINST LEGAL
feet wide with good values.
On the Longos 200 level, 202 drift south was advanced 34 feet along the vein 5.0 feet wide, values being high.
General working conditions con- tinted satisfactory. The weather continued generally unsettled, with numerous showers and strong northeast winds.
SOUTH AFRICAN TRADE DROPS CAPETOWN (T/Ocean) The PEIPING, Jan. 5 Reuter. The South African trade balance for
CURRENCY
nine months ending September
ministry of finance of the Japan-30, 1938 shows a considerable de- ese-sponsored "Provisional Govern-
cline by comparison with the ment" here announces that from February 20 Chinese National cur-year before both in exports and rency still circulating in North imports by nearly £20,000,000.
China will be subject to a further At the end of September last 30 per cent, discount as against the South African Union had "Federal Reserve Bank" currency.
export surplus for the
This makes a total of 40 per
an
current against
year of $2,000,000 is cent. discount officially in respect £16,000,000 in September, 1937.
of Chinese 'National currency.
The greatest reduction in ex-
by The effect of the new order is ports is in gold, as shown uncertain, as despite the ten per decline in the insurance premium cent oficially imposed last sum- from this source, while the grea mer. the old currency is still at test decline in imports is in au- four per cent. premium in amounts tomobiles.
of over $2000.
MORE UNEMPLOYED
IN BRITAIN
LONDON, Jan. 5 (BW8)-Minie
ITALIAN WORKERS
FOR GERMANY BERLIN-No less than 130,000 (talian workers will come to Ger- try of Labour estimates show that many to work in 1939 as compared na December 12 the number of in- [with 50,000 in 1938 and 30,000 in sured persons in employment in 1937, according to a statement Great Britain was approximately made by the head of the German 12,283,000. This was 5,000 more Labour Front, Dr. Robert Ley at a than the month before and about meeting of the Reich Chamber of 10,000 more than the year be- Labour here recently.
fore.
At the same date. registered unemployed totalled
FINANCE
STATE CONTROL OF POWER
IN JAPAN
The Japanese Government is go-
Ing to establish a bourd called the Denkl-Cho on April 1 when the State control of the electric power
dustry will materialize. The new board will absorb the Electric Bureau of the Communleations: Department and the Power Control Preparation Bureau.
It will consist of the two De- partments, viz. Control and Super- vision: The Control Department All handle matters relative to the Japan Power Generation and Transmission Company and the other relative to other power com- panies.
Meanwhile, the Tokyo Electric Light Company is dissatisiled with the assessment made by the valua- tion Committee of the assets to be Laken over by the new semi-oficial concern.
The assessed value is Yen 138. 700,000, or Yer: 18.000.000 more than the Tokyo Company's book value. As soon as it finishes a study of the official estimate, "it will file a protest with the Valua- tion. Committee. The Japanese press predicts that the Company will take the case to Court,
The Valuation Committee has. started the inspection of the various remaining properties of the Daldo Power Company which will
have to be taken over by the new semi-official concern shortly after its establishment. The Daldo Power Company will be absorbed by the new concern.
INDUSTRIAL PANEL ON REARMAMENT
LONDON. Jan. 5 (B.W.8.-At a meeting on Tuesday, the advisory panel of industrialists, set up to help in the co-ordination of indus- trial effort in connection with the rearmament programme elected as its chairman Leut-Col. J. H. M. Greenly. The panel has held a number of meetings starting be
full pro- fore Christmas, and a gramme of work has been drawn up for the future
SPEED
EASTWARD
STAMPS AS · PRESENTS
Please your Iriends and help their hobby this Xmas by giving them stamps, which will prove an appreciable gift, as they in- crease in value.
We have an extensive selection of stamps in sets. packets, bags and on approval books for all classes of collectors. Also stamp Albums, Catalogue and all other philatelic goods. Picture, paint- ing and story books, Snow White, &c. are also suitable for Christmas Presents.
1 GRACA & COMPANY
No. 10, Wyndham Street, HONGKONG.
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MILWAUKEE
THE MILWAUKEE ROAD
1,831,372, The total was 3209 more than comprising 1,474,019 wholly unem- ja month before and 165,985 more pluyed. 294,708 temporarily laid than a year before and included THE
boys, 358, 684 women and 44,321 girls.
off and 62,645 normally in casual 1.384.922, men,.... 45,549 employment.
FRIDAY, JANUARY 6, 1939.-PAGE 11
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