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COMMERCIAL., Issue 10439, 7 October 1897
The amount of revenue collected at the Customhouse on sroodo cleared for consumption to-day was £2,SSO 5s 2d.
MINING NOTEt*. The Dunedin Stock Exchange report that a dividend of 7s pet share has been declared in the Golden Gate Dredging Company. A meeting of the shareholders In the Sew Hoy Big Beach Mining Company was held in the Chamber of Commerce last evening, for the purpose of forming a subsidiary company of 5,000 shares to take over the assets of the old company —viz., dredges, claims, etc.-to work the Talisman Beach. Mr Trythall, the convener of the meet--IDff, explained in detail the proposal, which met with the unanimous acceptance of those present. It was decided that such a company should be formed at once. .U AC , C ™’ 0, ct °her 7.—The Kapanga reef, at the I,oooft level, is showing strong gold, and a payable run is expected. A meeting of the Goldfields Committee of the Avduand Chamber of Mines was held to-day to consider the proposed Cyanide Bill. With regard to tbeagreement between the Cassds Company and the Government for the purchase of the former’s patent rights for £15,000, the Chamber passed a resolution protesting against the clause which they consider practically gives the Cassels Company the right to charge any royalty they may think fit. In regard to the claim for arrears, the Chamber considered that the purchase money should include all alleged arrears. With regard to the clause preventing anyone from using the patent rights or a similar process without a license, it was resolved that, while recognising the necessity for such a condition, they point out that the operation of the clause would he restrictive in its character. As to the amount of royalty proposed to he charged, it was resolved that the Chamber consider that the clause should provide royalties not to exceed U per cent, on the value of the gold and silver extracted. It was also decided to forward these proposals to the Minister of Mines with the reasons for and arguments in favor of their adoption. ;
The uromwoll mine tril litors got a cake of ■ -boz of gold from 319 tons or quartz. This represents four months’ work by ten men, each of whom, after the company takes 25 per cent., re-C.-ives £2OO as his share.
The Glenrock Company, at Macetown, obtained a cake of smelted gold weighing 211oz 15dwt 12gr from 450 tons of stone.
The Westralia Company cleaned up for 30oz Ildwt, and treated 49 tons concentrates, from which £172 worth of gold was obtained. The Clyde Dredging Company is now comprised of 4,003 shares of £1 each, instead of SO shares of £SO each. A dividend of 2s per share was del dared to-day. The brokers inform us that over 5,000 shares are applied for in the Matsu Dredging Company, Limited, and early application is necessary for the remainder. THE LONDON MARKETS. The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cable from their London office; \\ ool.—Since close of list sales greasy, washed and. scoured merino super, greasy and washed merino, medium and inferior and fine greasy washed and scoured cross-bred are Jd to Id per lb higher; scoured merino, medium and inferior, is Id to ltd per lb higher: medium and coarse greasy, washed and scoured cross-bred, and greasy merino lambs super are id per lb higher; other descriptions unchanged. The sales progress o I'nl.n, e quantity catalogued to date is BJ.OOO bales.
Mutton.—Market weaker. Canterbury mutton is worth did per lb; Southland and Wellington. 3d per lb.
Lamb.—Canterbury lamb is worth .fid per lb ; Southland, 3d per lb. Rabbits.—9Sd (ex stand). Tallow.—There is little demand. Fine mutton has declined Od per cwt, and medium and inferior mutton 3d per cwt since last report.
COMMERCIAL., Issue 10439, 7 October 1897
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