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COMMERCIAL.

The amount of revenue colleoted at the Custom-houso on eoods cleared to-day for consumption was L70713s 2d. The 00-opcrative Confectionery Company haß been registered, with a capital of LIG.OOO in L2 shares.

The ' Manawatu Herald' publishes an account of cows frozen and shipped to the London market from the Oroua Downs Eatate. Kiuety cows were shipped by the p.a. Bimutaka, the result being:—Realised in London, L 1,159 lis 8d ; hides, fat, etc., reaVsed in the colony, LIOB 2i 9d; total, L 1.267 14s sd. The expensas were :—London sale charges, freight, primage, insurance, freezing, bags, etc., LC4S 9s 9d; leaving a net balance of LG22 4s Bd, or at the iate of LG 18s 3d per head. It may be stifc< d that the same cows were difficult to dispose of locally at L 4 per head. The balance-sheet of the Wellington Woollen Factory shows the result for the y«ar to be satisfactory. 12,000 is wiitten off as depreciation, the payment of 8 per cent, dividend absorbs L 2.890, L 2.000 is carried to the reserve fund, and L3.G95 to the credit of next year's account. THE ADVANCE IN SUGARS. Tup. 'Auckland Herald,' referring to the advance in tho price of sugar made by the Colonial rugar Refining Company, fays:— From inquiries made, we find tbat theie aro a number of causes operating to produce this result. One of these is the great increase in tho price of raw sugar. For instance, in 1884, beet of 88 per cent, was quoted at LlO 5a per ton, and cane sugar was selling for about Ll4 for No. 12. Latest quotations now are Java, L2210s and L 24 per ton, The Sugar Bounties Convention is also said to have an effect in raising prices. Then there is reported a short crop in Queensland and Cuba, and the agitation on tho Continent for shorter hours of labor is regarded as also tending to harden prices, the beet sugar being largely produced there. Thero has been no rise in the price of labor in Fiji, but the price of sugar is almost wholly controlled by the foreign markets. The Cuba sugar crop is stated to bs short by Borne 200,000 tons, and the ' Produce Market Review ' says (Maroh 23}: —"lf this Is so, the Americans will be compelled to look to countries which, as a rule, look to England for a market for their sugar. A large part of the Java crop has been booked for the Few York market. Ihe raw sugu market is in the hands of the Continental speculators, who, stimulated by heavy American purchases, are operating on the stocks." Ou April 13 the snme journal states that "the talk of sugar corners appears to be propagatrd in the interests of Continental manufacturers." There does not appear to be any "corner" in sugar in the colonial market, and it is said it would not be possible to carry it out succeshfully,

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890620.2.26

Bibliographic details

COMMERCIAL., Evening Star, Issue 7938, 20 June 1889

Word Count
491

COMMERCIAL. Evening Star, Issue 7938, 20 June 1889

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