COMMERCIAL.

Timaru Herald, Volume LVIII, Issue 1831, 5 August 1895, Page 3

COMMERCIAL.

Phb Electric Telegraph— Copyright

Per Press Association,

London, August 2

Tenof.the Gulf of Siam's cattle were ■old at sid to s£d. Experts say the horses were soft and unable to endure the heat of the tropics. They are pleased with the quality of the cattle.

The City of Melbourne Bank committee will submit a revised scheme on Tuesday. Tinder this scheme British depositors are to elect three new directors on the Melbourne Board, and the Australian shareholders and depositors two. The British depositors will elect a committee of advice m England. The committee agree to assign to the shareholders the current accounts and bills priority m the winding up, and to authorise the directors, when advisable, to realise the assets.

August 4,

The prospectus of the Tai Tapu Goldmining Company, of New Zealand, has been issued. The capital is £175,000, and shares amounting to £125,000 were offered to the public ; and this sum has been subscribed.

The steamer Echuca, from Adelaide, Melbourne, and Sydney, has arrived at Suez with eight head of cattle alive. Owing to the heat the others died, while some refused to eat. The sheep have carried well.

Goldsbrough, Mort and Co.'s committee propose that the unpaid calls should carry 4 per cent, instead of 8 per cent. Mr Alexander Young con-

siders that the company may rely on an income of £100,000 yearly.

The committee of the City of Melbourne Bank recommend depositors to adopt the amended scheme as laid before the meeting on July 6th.

Melbourne, August 3,

The Government are advised by the Agent-General'that no tenders were re" ceived m London for |the new frozen produce export contracts, nor have any been received m Melbourne. The reason given is that a weekly service is required m the summer months, and the P. and O. and Orient Companies, the only ones which can furnish this, consider the conditions of the contract unsatisfactory. They have written to the Premier stating the terms they are willing to agree to, and he is considering these. The Lunds, of the Aberdeen line, can only furnish a fortnightly service.'