COMMERCIAL

Evening Star, Issue 7652, 30 June 1888, Page 3

COMMERCIAL

The amount of revenue collected at the Customhouse on goods cleared to-day (or consumption was L 467 15s 7d. In commercial circles the principal event has keen the failure of William T. Coleman and Co., a house that did a large business with the colonies in canned goods, salmon, dried fruits, eto., and was always regarded ss firm as a rook. Tho total liabilities amounted to 2,910,093d0l 17c, and tho estimated assets to 3,595,069d0i 27c. These figures Include the private financial affairs of Mr William T. Coleman. In the business affairs of tho firm the liabilities amounted to 2 660.953d0l 36c. with estimated assets of 1,707,138d0l 270 or a shortage of more than 950,000d01. Among the assets are cei tain borax lands valued at 2.000,000d01, hut which Mr Colcmsn acknowledges cannot be sold owing to the proposed reduction in tariff on borax. They may possibly realise 500,000d01. Several borax companies connected with the Coleman firm have since failed, as has also the Lusk Fruit Canning Company. Atmostall theoreditors are in the Eastern States or abroad, only (our banks and two individuals having been “ hit” in California. Though Mr Coleman says he will pay dollar for dollar, It is hardly expected in business circles that the assets will realise more than half of the indebtedness. The suffering banks are : Bank of California. 273,OOOdol; Nevada Bank, 225,C00d01; Bank of British North America, 200,OOOdol; Bulk of British Columbia, 105,000d01. Owing to ibis failure colonial buyers will have to seek some other source from which to obtain their canned salmon and fiuits. —‘New Zealand Hera'dV San Francisco correspondence. At tbe end of last week a party of six residents in the Catlins district had made all preparations for a start on a tour of prospecting (or gold in the Tautuku district. They were going found by boat, and were only waiting favorable weather. It is reported that many years ago two men discovered rich gold in the locality, and wrought at it so long as their provisions lasted. They then had to leave, in order to replenish their store, when one was lost in the bush. Tbe other died in the hospital, and left a rough chart showing where they had found tho gold. The discovery of this chart has induced the expedition referred to. It is also said that when the body rf the lost man was discovered, a packet of gold was found underneath it, thus confirming the report of the men having been successful in their search.— 1 Ciutha Leader.’ Business during the week in the import market has continued rather dull, and no quotable change in values can be reported. By cable advices we learn of the sailing from Foochow of the Taiynan, on the 23rd inst., with the first direct shipment of new season’s tea Tho arrivals have been the Westland and Bass Rock, from London, MINING NOTE. A Brisbane cablegram reports the new field at Pine Creek to be a “ duffer.” PROPERTY SALE. Messrs D. Reid and Co. offered for sale to-day tbe Giadfield Farm, in the East Taieri district, but tbe property was passed in at Ll4 per a*rc. THE LABOR MARKET. Mr Skene reports :—With tho fine, open weather there is a decided improvement in the demand for (arm people. Stations will soon waken up with tho rising wool market. Town only wants boys. Late wages—Couples, L 66, L7O, L 75; ploughmen—firstclass 20s, soeond-o'ass 17s 61: laborers, 15s: cooks, 20s; shepherds, L 55; milkers, 10s, 12s, 15s, and 20s; grooms, 16s; gardeners, 20s; busbmen, 4s and 6s per cord; boots, 15s; waiters, 20s.