Commercial.

Evening Star, Issue 3831, 4 June 1875, Page 3

Commercial.

The amount of revenue received at the Customhouse on goods cleared for consumption this dav was LI ,022 17s Id. y

Mr A. Mercer reports, for the week ending June 4, retail prices only-Fresh butter, in -Mb and 11b prints, 2s Od per lb; fresh butter iu lumps, Is 9d to Is lOd; salt and powdered butter Is 8d to Is lOd The supply of fresh butter has fallen off very much

and butter now is really scarce. Salt butter iu kews Is 6d per lb, but not much doing owing to so much being imported lately cheaper. There is a good demand for salt butter in the retail trade. Cheese of the best quality, Is to Is 2d per lb. Side bacon (new), Is 3d to Is 4d. Boiled bacon, Is 2d. Colonial hams, Is 4d. English hams, Is 9d. Eggs arc not quite so scarce, and retailing still at 3s 6d per dozen, ARROW RIVER COMPANY. The shareholders in the Arrow River Goldmining Company held their half-yearly meeting in the Provincial Hotel last evening; Mr G. F. Reid occupying the chair. The half-yearly report, which was read by Mr Rutherford, Secretary to the Company, stated Six mouths are gone, and, although we have been moving all the while, we have not yet reached what is the best practical proof of success—a dividend In accordance with the wishes of last me sting of shareholders, the directors engaged Mi- J. T Roberts, a gentleman who has had long and varied experience in mining, to visit the Arrow and report. On his return he gave us very good hope as to the probable contents of the company’s ground. But ho found the turbine wheel, from whic'a thirty horsepower was expected, and which power would hare been equal to draining the ground in almost" any season, not equal to more than one-fourth of the expeof ed force. Though it was kept going for mouths it failed to reduce the water so as to enable the manager to bottom. To the want of a sufficient motive power is to be attributed the making of two calls on the shareholders—jhe proceeds of which have been wasted—the discord amongst the memhers, their distrust and mutual recrimination; in short, it has led to nearly all the misfortunes of the company. Shortly after Mr Roberts returned, the agent for American-made turbines offered the company one of his machines on trial, and new pipes and connecting gear had to be manufactured for this, these are all now on the ground; and a telegram just received stated that they will he pumping on Friday—that is, to-morow As instructed by last meeting, the directors advertised all shares on which two calls were unpaid for sale by auction. Nearly one-half of the defaulters paid up before the day of sale. The shares of the remainder were sold off, and realised the value of the two calls and a surplus almost equal to the interest duo upon them ; 83 !• shares were, then sold. The second call of 2s' Cid is now uuuaid on 1,035 shares. This meeting may advise what is to be done with them. All the trials that have been made during the past six months have in every instance strengthened our belief iu the auriferous quality of our ground; and we still expect that the high hopes with which many took shares when the company was floated will he realised.

The Chairman, on the adoption of the report being moved, said that it was not the report which he should have liked to have seen brought forward but really nothing had been done, astliov had not yet reached the mine’s bottom; and their hopes hud been crushed through the news that the pump, mg gear was not strong enough. Mr Manning, a shareholder had kindly placed his turbine wheel at the disposal, of the Company, he having- no doubt that it would he of sufficient power to pump the water from the mine, and thou the shareholders might fairly expect to be remunerated. If the turbine did not succeed Mr Manning had promised not to moke any charge; if it did the Company were to buy it for Lll2. Mr Manning had no doubt of its success, and his object was to bring his turbine prominently before the mining community Mr Anderson expressed himself as greatly disappointed with the little information given by the directors ; while there was no statement by the mining surveyor and no report as to what had been done at the Arrow, nor were hopes held out of future workings. The report, together with the balance-sheet tTnr. that the company was now owing LlB5 to the bank, and that L 129 7s 6d was due on unpaid calls), was then, adopted. The Chairman, the Secretary, and Mr Law a director, gave it as their opinion that if the turbine supplied by Messrs Kincaid, M'Queen and Co., had been of the power stated, there would have been no necessity for the second call, and that the claim would have proved remunerative and the sharenolders probably in receipt of a good dividend. They had been unfairly dealt with, and it was the intern tion of the committee to move in the matter. The following gentlemen were appointed directors for the ensuing half-year -.—Messrs Anderson, Law, Reid, Dunning, R, A. Lawson, Davie, and Goodman. - [By Telegraph.] Wellington, June 4.—Mr O’Shea reports toes, 80s to 90s per ton ; flour, from Lll 10s to 1.12; maize, 7s; oats, 3s 6d to 3s 8d ; wheat, no milling; bran, Is 2d to Is 3d ; cheese, 104 d ; bacon lOd.