MERCANTILE.

Auckland Star, Volume XVII, Issue 98, 24 April 1886, Page 5

MERCANTILE.

A dividend of 5 per cent, ia recommended to be paid by the Wellington Slip Company.

Plans are now ready and approved for the Woollen Company's factory at Onehunga, and tenders will be called at once for levelling and excavating the site.

• After seven weeks of enforced idleness, due to the choking of the pumps by flood wash, work at the Kawa Kawa Colliery has been resumed with vigour. Since the 3rd inst , the pumpß, assisted by tanks, have beon steadily reducing the volume of water which had accumulated in the workings, and yesterday the miners were again able to occupy their accustomed working places. The temporary cessation of work at the colliery has caused inconvenience to many consumers of the Bay coal, and much loss to the Bay Coal Company. The former will again be able to obtain their supplies, and it is to be hoped that no such misfortune may again visit the latter. The annual report of the Kaihu Valley Railway Company, submitted to the annual meeting on Wednesday, Mar. 31, stated that the operations of the company have been suspended for somo time, pending financial airangements. During the last session of Parliament, an Act was passed, authorising the Government to guarantee the debentures of the company to the extent of £50,000. Steps are being taken to carry thiß into effect, and it is hoped that it will soon be completed, Tenders have been called for a further extension of the lino, and this section will soon be in course of construction. The expenditure up to date as shown on the balanco sheet waa £1 1,573 3s 7d. Messrs J. M. Dargavllle, M.H.R., and T. Morrin, the retiring direotors, were re-elected, Mesßra Waymouth and Fraser were appointed auditors.