COMMERCIAL.

Evening Star, Issue 6725, 6 October 1885, Page 3

COMMERCIAL.

Tho »mouni of rcvonuo collected u5 ibi: Ousjarahou;o on tnoda cleared to-day for -irm".invtion was LWftl7sod. , , i _ f h*fullowing important telojram has heen to the ' Arms' by Mr G C. Cr iiir, c 'it.ir r.f Iha ' ({.1.-ctis-lind Review':—"Mr Bihiifln, of Paris, reports having completed the discovery of tho art t f extracting tho juice from tho su.-ar-cinc hy which he can n.anufai;turo whito auijar in two hour*, and placj colonial sugars in Mel ounie a*, L 8 per ton. The Inv mion destroys the beet industry, and to a g.eat extent settles the labor question." J II Havnc, of Ojmiiuu, chcmint, his filed with Ha' ilirics put down at LfcCO and as-ets at 1.1,201 Attheadjourncd meeting of 3hireholilersiiithcOta; o Mo it Freezing Company, held at tho Compmy'a office, tho annual report and bilancj-ahpet wcro adopted Tho two retiring directors, Messrs J. C Buckland and Adam Landclls, were roelectcd, as also tho auditor, Mrßartlcman. Tho policy of the directors, as explained in tho subjoined report, was endorsed by the shareholders:—"The direotors havo to roport that rio further steps have been taken towards the erection of refrigerating. works upon tho Company's land Tho depressed state of tho agricultural and pastoral industries hag deterred them from making the calls, which would have been necessary hail thoy entered into contracts for the supply of machinery, eto , while the unfavorable state of the frozen meat traie during tho past year has been another argument against their entering into compit tion with tho exisiing works. Bv reports rccolved from London tho directors arc lid to believe that tho new "Chamber's Patent Machine " will materially 1> sson the coat of ref rigera--11 in ; and it is considered that nothing has been lost bv the dolay, but that the Company will he in a good position to begin oporations when sufficient encouragement to do so is affoidcd, as advantage oanlo taken ff the improved machinery without any sacrifice of costly but inferior plant. During tho pastyear an effort *as made to enter into the dairy factory business, and negotiations wore for eomo time pending with the settlors in the Stirling and Hawkesbury districts for tho supply of milk and the taking of shares in the Company. Tho evident opposition of several of the direotors and of a num' er of the shareholders to such a scheme prevented the maturing of these necotiations, and although very considerable disappointment was naturally felt by thoso in favor of the Company going into this branch of tho business, it was considered prudent to avoid any step which would not havo tho unanimous approval.of those interested. The directors aro now of the opinion that tho bettor policy in the meanwh hj will bo that of waiting for further developments in the frozen moat trade and the improvement ot refrigerating machinery before entering into the business. The expenses aro now limi'.e I to the payment of interest on purchasemoney ot land at Sawye-.s Biy, and a few-trifling items lor printing, postages, etc." THE FROZEN MEAT TRADK. Depression still characterises tho frozen meat trade. In the provinces there is a liitlo more animation than in tho metropolis, but no briskness is perceptible cither in tho town or country markets. During the past week the lonic and Aorangi ha\o landed 20,700 carcasses from New Zealand, and tho Liguria 6,738 carouraes from Melbourne, still further swelling the already suparabundant supplies. It is clear that tho Au Irdasian companies must prepare to encounter still keener competition from South America. Two new companies in tho Argentine Rcpublio are determined to ompeto for a share of the traJo The Cuzco's cargo fiom Melbourne is now eelling at 2s 6d to 2s lOd por stone; the Tongariro's, from Canterbury, at Us 8d to 3s 4d per Btone; the Aorangi's, from Auckland, and the lonic's, from Canterbury, at 2s 8d to 33 2d. The Aorangi's beef is realising 3s 8d per stone. Tho Elderslie's cargo of New Zealand mutton is not yet cleared. It is reported that some 0.000 carcasses havo been condemned, but tho extreme reticence of tho igents prevents authentication of the rumor. It is difficult to see how such reserve can posbibly benelittho interests of consignors, whilo a frank admission of the causes of failure might put other shippers on their guard, and thus prevent a disaster which has a more or less prejudicial effect upon the trado at large —' Argus's' London Correspondent. [By TrjDBORArn ] Adblaidb. OcloVcr S. Mauritius advices are to S'.-ptembor 18. Messrs Ireland, Frasor, and Co. report as follows:—" Harvest operations havo been considerably hindered by bad weather. Tho crop accounts are of an unfavorable character; Crushing has commenced, and is now becoming general. The month's clearances for Now Zealand ports w»re: Lyttelton, 200 tons ; Dunodin, 200 tons. Exchange, sixty days' bank crcdn on New Zealand, 20 per cent, premium ; Australia, 21 per cent. The stock of sugar now in hand is 12,000 tons."