COMMERCIAL.

Otago Daily Times, Issue 7636, 9 August 1886, Page 2

COMMERCIAL.

Daily Times Office, Saturday evening. Toe amount olf oustomo revenue received to-d»; on jrooda olesrod for consamptioii was £225 5s lid.

There has not been much activity in business during the past week, and the usual first of the month's trade is under the average. Sugars move off steadily at late rates, and stocks are now in very moderate bounds. Snowdrops are quoted £22 10s to £23; finest whites, £22; greys, £21 to £2110s. Teas have had moderate attention and a fair amount of business is reported, medium grades in half-chests and boxes being most in demand. Candles, especially piraffins, have been freely dealt in, and several f lir-sized parcels have changed hands. Prices ringe from 7Jd to Bd, De Roubaix Jenars 8d to BJd. Colonial manufactures are moving off in trade lots at late rates. Cornsacks are slow of sale, but there is some inquiry for woolpacks to arrive. "ValuesinCalcuttaareconsiderablyhigher than last year, therefore we may expect to see a higher range of prices here this season. Dried fruits are moving off steadily—currants 5Jd to si-ti, Elemes 6JJ, Sultanas 6Jd to 6p, figs 7s Gd. "Fish is unchanged, and only a very moderate demand exists for most descriptions. Salmon is firm at 8s 3d to 8s 6d; sardines, 8s 6d for halves and 5s for quarters; lobsters, 9s; ling, 3Jd. Herrings are slow of sale. Hops are very firm at the advance recently established. Galvanised iron and fencing wire are very quiet. Boiled and raw linseed oils are dull, there being almost no demand at this season of the year. Kerosene continues in good request, and prices are without much alteration. Stocks of dressed rice have been replenished by shipments per Macbeth, and prices are in favour of buyers. Patna rice moves off in trade lots at up to £19 10s, duty paid. There is little doing in ales, wines, and spirits, and prices are without alteration.

On Wednesday next we shall publish our usual Summary for transmission by the San Francisco mail.

At a meeting of creditors in the estate of Henry Moffatt, of Otautau.held at Invercargill, th 3 debtor's statement showed his total liabilities to be £2-125, of which £1520 was secured, and hi.''assets were valued at £2525, the apparent surplus being £100. The secured creditors were: —Trustees in the estate of F. Fielding, deceased (secured by first mortgage over part of section 50, block 11, Aparima Hundred, and flour mill thereon, valued at £2200), £770; John Tod (Lincoln), secured by second mortgage over same property,£sso ; Colonial Bank (secured by third mortgage), £200. The principal unsecured creditors were: —N.M. and A. Company, £300; R. Smith. (Otautau), £180; S. Wright (Ashburton). £100; Carswell, White, and Co.. £70; J. Hamilton (Christchurch), £52; T. Bailej (wages), £50; W. Howe and Co., £30; T. Smith (wages), £18; Guthrie and Co., £18 ; A. Morris (wages), £17; J. G. Ward, £14; E. Reeceand Uo. (Christchurch), £12; lteid and Gray, £11. The Deputy-assignee (Mr M'Leod) after examining the debtor decided to interview the N 31. and A. Company's representative as to the securities held.

At the adjourned meeting of the Binnie Victorian Patent Gas Company the joint committee of directors and shareholders appointed to inquire into the affairs of the company submitted their report, which stated that they had found the report and balance-sheet of the director,-, unassailable, and they recommended the same for adoption. The unsatisfactory position of the company was found to arise from its formn management and consequent want of funds I<. carry on. the business energetically. The paten' right was proved to be of great value, although SO far not equalling expectations. Various propositions for the purpose of obtaining capital with which to carry on the business had been discussed. The committee were prepared to submit a plan; but they were given to understand if it were not carried out, or the liabilities met by other means, Messrs Howard and Dalton would be compelled to put in force the legal powers they held over the company's property, while if the project presented was carried out that firm would subscribe for shares to the value of a large portion of their debt. The other

creditors would adopt a similar nourso. It was proposed by tho committ-ou to Hunt a'now company, with a capital of .Cu'-tOO, in 12,800 shares of 10s each, tho present shareholder!! being allotted four shares for each one now held. It whs explained by Mr A. M. Strongman that, as the present shares wero worth 50s, tho loss accruing to shareholders would be very small. The report was adopted.—Melbourne Telegraph.

rnOVKKTY SALE,

Messrs J. A. P:irk anil Co. report having sold on Saturday allotments 1 and 2, block 11, private township of MorniniJton, together with tho Moruington Hotel Ihcrcon, to tin) mortgageb for £-'00.