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COMMERCIAL.

The amount of revenue collected at the Custom-house on goods cleaved te-dav for eon■mmntinn was 13,872 7s Id. Primage, LlB6 11s lid.

A syndicate has been formed since the withdrawal of Cobb and 00. to run busses in Wellington in opposition to the Tramway Company there.

The complete returns of Customs revenue for July give a total of L1‘26,015, against 198,647 for June and 1*95,984 for July of last year. We notice from the ‘Lyttelton Times’that tho Christchurch Opera-house Company has been floated, and that the architect has been instructed to proceed with the building. At the half-yearly meeting of the Bay of Islands Coal Company the profit and loss account showed a credit balance of L1,16112s Id for the half-year’s working. No dividend will be paid. NEW ZEALAND REFRIGERATING COMPANY. The following is the eighth annual report to be presented at to-morrow’s meeting The directors have pleasure in submitting to shareholders the accounts and balance-sheet of the company for the year ended 30th June, 1889, which have been duly verified by tho auditor. Tho net profit after providing for depreciation (including LBB3los lOd brought forward from last year) amounts to L 4.629 7s Bd, which they recommend should bo appropriated as follows, viz,; To payment of a dividend at the rate of 8 per cent, per annum, L 1,716 lls 6d ; to return to shippers of the 5 per cent, primage retained by the company, L 1,367 19s lid; to bonus to shareholders of 5 per cent,, being a proportion of the profltrealised by purchases on company’s own account, L 1,200 ; to balance carried forward to next year, L 844 16s 3d. Thera wore frozen during the year at the company’s works 177,504 carcasses of sheep and lamb, and 3,453 quarters of beef—an increase over last year of 80,913 carcasses and 1,613 quarters of beef. At Oamatu works 99,612 sheep and lambs and 1,209 quarters of beef were frozen, whilst from Burnside works were shipped 77,892 sheep and lambs and 2,253 quarters of beef. There were also slaughtered at Burnside and frozen elsewhere 2,535 sheep. In January of the present year the directors offered to the public at ‘par’ the 1,668 unallotted shares in the company, which were readily taken up. The whole of the capital, therefore, has now been subscribed and paid up to L 3 per share. In order to increase the capabilities of tho works at Oamarn, new and improved boilers have been put in, and contracts have been let, and are now in course of completion, for the erection of a new store to hold 5,000 sheep, offices, and engineer’s house. At Burnside a contract has been let for sinking an artesian well, the present water supply having been found inadequate. The directors are pleased to be able to congratulate sheep owners on the vastly improved prices for frozen mutton now ruling in England, and look forward with confidence to both works being kept fully employed during the coming year. ENFORCING THE TARIFF REGULATIONS. The following departmental circular has been forwarded to the collectors of Customs throughout the colony j—“ In connection with circular of 12th uli, I haw now to ipform you that the

Con.rniwioner having had under consideration the provisions relating to penaltiesandforfeitures in the several Acts administered by him, has determined to exercise his powers under section 54 of the Customs Laws Consolidation Act, 1882, in all cases wherein the collectors report the absence of any apparent intention to defraud the revenue on the part of the persons concerned, and that a prosecution is undesirable. The Coramhaioricr is of opinion, seeing that tho items in the tariff and decisions have been arranged alphabetically, and published in a form accessible to all, also that all decisions are printed and circulated promptly after they are given, and considering that importers, their clerks, and agents, if in doubt, can readily obtain tho necessary information from the collector or landing surveyor, that the plea of ‘mistake’ cannot be allowed, and that as an ‘apparently accidental omission, inadvertency, or non-compliance with the laws and regulations ’ if undiscovered results in loss to the revenue, release from penalty, and. forfeiture in the disoovere el cases must bo conditional upon the payment of a fine, in addition to the amount of duty payable. Each case will ho considered on its merits, and mitigation will be calculated on the basis erf the amount of duty at stake; that is to say, for a first offence the fine will be a half or full duty additional, and so on in proportion for each subsequent offence. Before sending your report iu which your own opinion is to he expressed, you will he so good as to explain this to tho persons concerned, and obtain from them, in writing, such representation as they may wish to submit for the con sidcration of the Commissioner. I have to call your attention to general order No. 08, and to request you to act in accordance therewith.— H. 8, M'Keu.au, secretary and inspector.”

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890806.2.33

Bibliographic details

COMMERCIAL., Issue 7978, 6 August 1889

Word Count
837

COMMERCIAL. Issue 7978, 6 August 1889

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