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COMMERCIAL.

The amount of revenue collected at the Ciinti m bouff on p'oodf* cleared to-day for consumption was L 1,265 14s lid. Melbourne can certainly boast of a successful Coffee Palace. The revenue from all source for the past half-year was L 25.664, and the ex pendituro L 10.050. A dividend of 10 per cent, has been d-dared and 15,000 earned to the reserve, which now stands at L 20,000, while LI,OOO was written off the furniture account. The income the first half-year was 1.4,474 ; second. L 7 241 j third, L 7.122; fourth, L 6.767! fifth, L 11.491; sixth, L 20.683. The number of beds let during 1887 was 33,974, and during 1888 67,317. The reserve fund is now equal to one-third of the capital. Of course, the Exhibition was the cause of the large increase of business noted in 1888-89. The annual meeting of the shareholder* of the Roseville Dairy Faotoiy Company was he’d at Sawyers Bay yesterday. Mr Bauchop presided, and there were seventeen persons presort. The Chairman stated that tbs report and balance-sheet wh'oh were to have be.n brought before the meeting were not ready, as some returns had not yet been got in. After discussion it was resolved to adjourn until the first Wednesday in Ju’y. An adjourned meeting o! the creditors of T L. White, bankrupt, was held at Auckland yesterd iy. Debtor, as on previous occasions, did not appear, but sent a Jotter beating yesterday’s date intimating that he could not prepare the required statement, and therefore could not attend. He promised to send an explanation of matters through his solicitor. The creditors authorised Mr Lawson. Official Assignee, to proceed against White for contempt of Court, and to take steps to compel I>U attendance at a meeting to be held tc-day,

According to an expert lu Ranflitikei, the cost of p oducing flax some eighteen jeam ago at the mill was not le a than LIT per ton. Since then mill machinery has been so improved, and methods so simplified, that good fibre can be produced to-day at a cost of LlO per ton, eleven less. Letters have recently been received from Home from tiro manufacturing centres, such as Uradf rd, in wlr'clr it is stated that. Now Zealand ll,x.is being steadily used more and mere, mixed with other fibres, in quite a lumber ef factories, and that by means of new machinery it is confidently believed by experts that it will he in much more steady demand than heretofore.

The dir cto s of the Perpetual Trustees, Estate, and Agency Comp my in tinir annual report stale that the profit and loss account fertile year ended flO'h April, 1880, shows a gross income of L 4.250 Iss. After paying office and ether expenses, arid balance of Auckland office rent, there is a net profit of L 1,448 16s lid, to which is added 1.195 15*1 Id hr right forward from last year, making an mailable balance of L 1,689 12s lOd. This the directors propose appropriating as follows r To pav a dividend at 5 per cent., 1,1,218 17s T'i ; *a write off compeirration account, L 250 ; to carry forward, Ll7O 15a 3.'. MINING NOTES. In connection with the Hercrloa Hydraulic Sluic'ng Company, Limited, wo learn that advices from Roxburgh state that the pipes and branch runs have been completed, and that very little remains to be dene before sluicing is actually commenced. The ‘Mount Ida Chronicle ’ is resposible fertile statement that the newly-formed Cnosus Company at Nenthorne refused L 20.000 cash for their property. The claim's said to be one of the mott promising at Nei thorne The recent gold discovery at the Waiho (says the 4 West Coast Times ’) appears to ho of much greater importance than at first supposed. One party of two men divided £25 f.,r five days’ work, whilst Gordon and party (three men) have about three y ars’ work cn ground that, they estimate will pay them LlO a week for the whole of that period. The locality is close t > the right-hand bank of the Waiho, nearly opposite to the forks. The ground apjrears to Lave been an ancient river bed, probably of the left-hand branch, which hitherto Imsbeen found to contain all the gold, none hiving been traced up the right-hand or glacier branch The gold is got by sluicing, the water being led in from the river

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890604.2.28

Bibliographic details

COMMERCIAL., Issue 7924, 4 June 1889

Word Count
734

COMMERCIAL. Issue 7924, 4 June 1889

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