COMMONWEALTH CABLES.

Stratford Evening Post, Volume XXXV, Issue 8, 6 January 1913, Page 5

COMMONWEALTH CABLES.

A NEW COMBINE. Melbourne, January 5. The Howard Smith Company are creating a new organisation to conduct their shipping business, and are forming a company named the Australian Steamships Company, Limited. It is to be registered with a nominal capital of £2,000,600, in £1 shares, and will take over the Howard Smiths’ interests at valuation. The purchase money is to be paid in shares of the new company. Howard Smiths are also taking over the whole of the interests of the Caledonian Colliery Company, which includes the Warratah West, Wall.send West, Wallsend Extended, Aberdare, and the Aberdare Extended mines. The purchase money, it is understood, is the largest ever recorded in connection with the transfer of Britishowned property in Australia. The new company will be registered in Sydney as the Caledonian Collieries, Ltd., with a capital of two million in £1 shares,- as in the case of the shipping company. Howard Smiths will be managing agents and have a controlling interest. MOUNT MORGAN MINE. . (Received 9.45 a.m.) Brisbane, January 6. The output from the Mount Morgan mine during December was 590 tons of copper and 7748 ounces of gold, of the value of £68,002. The smelters were closed from December 23rd to January 9th. The output shows that the surplus revenue for the half year was £53,126, to which has to be added £14,874 undivided. The balance, after providing cover for depreciation and other charges, adding £50,000 to the building fund, pacing Is per share as a dividend, was £23,294, which was carried forward. WEEK-END CABLES. Melbourne, January 6. The week-end cable system was operated on Saturday. SURFING FATALITIES. Melbourne, January 6. Two girls named Woods and Easton were drowned while surfing at Warrn am bool.