COMMERCIAL.

Otago Witness, Issue 1911, 6 July 1888, Page 17

COMMERCIAL.

The amount of customs duties collected at the four prin ipal centres last month and on the corresponding month of last year whs as follows : —

Millers' lines have ruled during the week as follows :— Flour, £8 to £8 10a per ton ; oatmeal, £8 5s to £8 10s per ton ; pollard, £3 5s to £3 10 a per ton; bran, £3 to £3 5s per ton; chaff, £2 10s to £2 15s per ton. According to a return prepared by t'ue manager of the Wellington Woollen Company and read at the annual meeting of the shareholders, the export of woollen goods from New Zealand to Australia in 1886 was £10,997, and in 1887 £15,760, showing an increase of £4763, the distribution being as follows: — Woollens: New Sonth Wales— lßß6, £6507; 1887, £9853; Victoria—lßß6, £2193; 1887, £2693; Tasmania— 1886, £1269; 1887, £493; Queensland.~lßß6, £128 ; 1887, £1767. The Wellington Post states that the new duty on tea has added £1250 to the value of the stock held by one firm in that city. Mr Edward Bartrr is steadily persevering

his efforts' to' establish a retail demand in the Home country for New Zealand frozen meafc. His London shops have proved a success, but he has had much prejudice to overcome owing to New Zealand meat having got & bad name through quantities of iafieriot South American, Australian, and Continental meat being sold as New Zealand. Of course Mr Barber sells only real New Zealand meat, and the demand for this is aow steadily on the increase.— Wellington Post.

At a meeting of the Oamam Farmer's Club, Mr Elder introduced the subject of selling grain by sample in Dunedin, He said that a case had come under notice where a farmer had sold grain by sample to a merchant in Dunedin, and that the latter had accepted all that was superior fco the sample, but had rejected every bag that was only slightly inferior. He thought it would be desirable to ascertain if this practice was general, for if it came to be recognfssd as a righfc on the part of merchants fo rejettt what was admittedly only very slightly inferior, while the superior only was accepted, the custom of selling by sample to Dunedin would cease, and the trade between the two places would come to an end. It was deolded to write to the Dunedin Chamber of Com* raerce and ask a ruling on the subject) and also Enquire respecting an insidious practice of deducting lib per bag for tare, which was likely to become a precedent. A resolution was also passed that it was desirable to use only four bushel bags, to contain only four bußhels of grain. At the meeting of the Canterbury Co-operative Farmera' Association Mr Bnnor, the chairman, in the course oE Borne remarkoy made reference to the question of promoting an insurance company la the interests of farmers. H8 expressed himself confident that with such a company country risks could be taken at one half the present rates and leave a profit if due regard were given to the management. Another important matter to which he referred was the fact that both their association and the one at Timaru have been shipping produce first to Australia and transhipping it there to London at cheaper rates than it could bo sent by direct vessel from New Zealand. This h a startling fact.

The report of the Liverpool, London, and Globe Insurance Company for 1887 states that the fire premium income for the year, after deducting reinsurances, amounted fco £1,289.586, while the losses were £787,089. The account, af terproviding for expenses, shows> without the addition of interest, a surplus of £90,099, of which £5000 has been carried to reserve, making the fire reserve fund £1,875,000.

During the week endiDg July 1 12 vessels of all classes, with a total of 5112 tons register, arrived at the Dunedin wharves, and 13 vessels, with a total <>f 6417 tons, took their departure. It is said in Auckland that a German company have offered to send out a full plant for the mami facture of beet sugar, valued at £20,000, and to take half the payment in fully paid-up shares in any company which might te btarfced to inaugurate the industry. One of the oldest firms in Wellington will shortly pass out of existence, that of Messrs Turnbull, Smith t and Co., who have been, bought out by Messrs Sargood, Son, and Ewen, of Dunedin, Chrißtchurch.and Auckland. Mr Walter Turnbull commenced business here (says the Wellington Post) in 1855, under tho style of W. and G. Turnbull and Co., as general merchants. The firm remained unaltered till the year 1877, when Mr Jame3 Smith was taken into partnership, and the drapery portion of the business was then known as Turhbull, Smith, and Co. This business made rapid strides, and continued to increase during tho succeeding years, embracing in its operations the whole colony, from Auckland to Invercargill. The new firm enter into possession as soon as the stock can be got ready for taking over.

All the Tasmanian paperspublish Sir Harry Atkinson's telegram denying the accuracy of the assertion made in an advertisomenfc in the Launceston papers that disease was prevalent among New Zealand cattle. Tho Colonist says: — " Ie is impossible too strongly to denounce the mean, paltry, contemptible nctloa of tho person responsible for this injurious falsehood. It is the more worthy of chastisement because there is every reason to suppose that it had its origin iv a pitiful trade jealousy, and a desire to make a few shillings by pushing the local article during the period of mild panic so created. For the time being it was successful. The sale of Now Zealand butter was checked .^Shipments intended for Tasmania were cc tt on to Sydney, and considerable loss was entailed upon the local purchaser. Bub the refutation of the libel will restore the article to its place in the market, and the discreditable attempt to force trade by dishonest means will justly recoil on the head of its author. If a man cannot make sales without resort to tactics of this character he should accept it as an evidence that he is not fitted for commercial pursuita, and he should leave business to those who can conduct it with profit, and still preserve a respect for principle aud honesty."