COMMERCIAL.

Otago Witness, Issue 2009, 25 August 1892, Page 22

COMMERCIAL.

The New Zealand Loan and Mercantile Agency Company (Limited) have received the following cablegram from their London office, dated 17th August :— " Wheat and Flour : Harvest prospects are promising; market inactive and depressed. New Zealand wheat, long-berried, is worth 32s (id per 4961b ; average is worth 30s Gd per 4961b ; New Zealand wheat, f.a.q., is worth, c.i.f. to arrive, 303 per 4S01I). The National Mortgage ami Agency Company sold to Mr Donald Borrie, of Papakdio, a block

of over 1000 acres on the well-known Elephant Hill estate.— North Otago Times.

The Clutha Leader ia informed that in the Wairuna district several farms and portions of farms have been let on the principle of payment by proportion of produce. For example, ia some cases where oat-cropping prevails the tenant pays a rent of one bag in four. This seams a very rational mode of procedure, and does away witn the uncertainties— gambling, it might be called — which obtains under the long-lease system at a definite money rent per annum. Thus in good years both landlord and tenant reap a benefit in relative proportions, while in bad years the tenant is not called on to pay a rent out of proportion to the quantity and price of his produce. '1 he New Zealand Loan and Mercantile Agency Company (Limited) have received the following telegram from their London office :—": — " Rabbitskins : Market firmer ; medium descriptions have advanced Id per lb since last report ; other quotai ons unchanged. Frozen meat : Mutton— Market firmer ; Canterbury is worth 3id per Jb. LambMarket easier ; prime New Zealand limbs are worth (per carcase) 5-Jd per lb. Beef— Market quiet. Other quotations unchanged since last telegram. Tallow : Market depressed. Tallow has declined 3d per cwt since last report. Hemp : Market firmer; medium is worth Ll9 10a per ton."

Messrs Dalgety and Co. have received the following cablegram from their London oflico :— " Rabbitskins in brisk demaud. Prices are in favour of sellers."

Mr Arthur M'Donald is in receipt of the following cable from Messrs Robert Brooks and Co. :— " Best descriptions are id higher ; out of season re id higher." Messrs John M'Nairn in their circular dated July 8 report :— Cheese is quiet ; New States and Canadians are offering on spot at 45.3 to 453 with a poor demand. Now Zealand cheese, we are pleased to say, is in great demand* The Duke of Sutherland and Aorangi arrived last week, and we are just now receiving their deliveries, which wo are clearing smartly at 6Js and 555. Some of those received this week are absolutely perfect cheese in every way. The texture and flavour could not be surpassed, and we have to compliment the colonists on obtaining such magnificent quality. Home cheese is exceedingly quiet, both old and new. '

A general meeting of creditors in the estate of Frederick Williams, fellmonger, of Springvale, was held at _ the Courthouse, Alexandra, on Tuesday morning, IGMi inst. Mr Geisow, the deputy-assignee, . in his report stated that there had been a loss of L 3982 5s 3d, accounted for by the bankrupt taking over liabilities of L 2077 18s 7d from the old firm and his private liabilities, and by his losses of L 670 18s 8d on tho sales of his wool and rabbitskins, and L3OO given to his old partners. As to the balance of L 333 unaccounted for, he had come to the conclusion that there had been no dishonesty— bankrupt had been oversanguine in buying, and perhaps a little extravagant in living. The balance sheet showed receipts amounting to L 598 153 2d. There had been paid L 223 10s Gd as dividends. There was available about sumeient to pay another dividend of Is 9d in the pound on L24IS 2s Gd proved claims. Sixtysix creditors, representing a claim of L 595 7s 8d against the estate, have not proved, and were therefore excluded from participation in the dividend. The meeting voted 15gs extra remuneration to Mr Geispw, recommended the granting of bankrupt's application for discharge, and passed a hearty vote of thanks to Mr W. Fraser for his services as supervisor without remuneration.

The following is the number of bags of grain and produce received at the Dunedin railvvay stations during the week : —

Bar- Pota- Pro-

Wheat. Oats. Bran. ley. toes. duce. Tl. Thursday 3U 50t — — 12) 60 1028 Saturday 1233 311 — — 324 220 2088 Monday 247 509 — — 173 — 920 Tuesday 636 345 — — 506 310 1877