FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5054, 18 June 1895, Page 3

FINANCE AND TRADE.

(Specially compiled for tho ■ Walrarapa Dully Times), CHIUED BEEF. M Tho most cheering of tho cablo Tintelligence of the week is that referring to the success of tho trial shipment of chilled beof, per s.s. Gothic. What'this success means for our farmers will bo known in time. Tho venture was no doubt undertaken to prove the capabilities of the thermostat invented by Dr. Shiels, one of the syndicate rosponX sible for this trial shipment, but whatever the causes that led up to tho venture, its success concerns us most, as it opens up another branch of the great meat industry. The cost of transit, owing to the special care necessary to land tho meat in good condition, is donbtless a heavy •* item, but this is more than made up in tho better prices obtained. There J is a vast difference between sid per lb, which the Gothic's shipment is realizing, and 2fd, the price quoted fa-Queensland hinds frozen. Freight tirges formed a serious item with zen mutton while the trado was in ) its infancy, but time and experience, together with competition and improved machinery have brought tho freight down to a very small item, though, as compared with market prices, still high. The success of the trial shipment of chilled beof at once gives an increased value to our herds, and at tho same time affords an assurance of a permanent outlet for surplus stock,

HED-ROCK. There is a general agreement on the part of experts and those competent to give an opinion, that frozen meat has seen the bed-rock of prices, The low prices recently ruling, though harmful in the extreme to colonial growers, have had the effect of introducing our products jjkthe artisan and humbler classes of ■JR community. We are thus assured of a much larger consumption thaH I hitherto, which will prevent any 6erious glut in the market. The low' prices have also opened up new channels of trado, which must ever tend to createasteadymarket. Taken all round, the prospects for the meat trade are most encouraging, and if we may rely on present indications it would bo safo to say the depression is lifting. The latest quotations for frozen meat are as follows : First quality mutton, 3|d per lb; second quality, 3rd; lamb averages ill rRODTO,

The firmness of the wheat market continues, but unfortunately for this colony, our farmers do not share in tho advance; on the contrary, wheat growing having become an almost forgotten pursuit, we shall have to pay very dearly for our bread. As mentioned previously, New Zealand will figure as a wheat importer this year, and already thavo advices of purchases a large scale of wheat and ir in Adelaide on New Zealand account. The Sydney produce market is affected by the cold weathorprevailing in the colony, and prices of several lines of produce have been hardening. Potatoes, oats, maize, bran, and pollard have experienced an upward movement which is likely to continue under present conditions,

TUB IXCOMETAX. The Sheffiehl Daily Telegraph says —" Sheffield merchants and manufacturers having trade relations with New Zealand have just received notices from the Governor and Executive Council of the Colony which threaten to hamper business to a serious extent. Under the NewZealand Land and Income Assessment Act, 1891, and the Income Tax Act, 1894, the authorities of the Colony are authorised to make Aands which are regarded as Harassing and unjust, An invoice is required to accompany all goods, setting out tho value of the articles and declaring the profit npon them, and a duty of 5 per cent is levied npon the profits up to 25 per cent, Failing compliance with these conditions, the Colonial authorities are empowered to fix the profit themselves, and to charge duty upon the same, and if the amount is not paid any goods afterwards sent are liable to be held by the Government until payment is made. Customers anxious to obtain the goods consigned to them can pay the tax themselves, whereupon they receive a certificate which is regarded as in satisfaction of any claim on the part of the principal against the importer or consignee. In other words the English manufacturer is very much at the mercy of the collectors at the other end, and canrflpeven recover from his customer the full value of his goods." The Hon. J, G. Ward told the London Chamber of Commerce that" It was important that New Zealand should be brought into closer touch with the old world." The harassing provisions of the Income Tax Act,which the Sheffield paper has touched upon aro not likely to bridge the gulf. LOXDOXOERRY.

We have the jeweller's shop business once again. We were told the same thing when the dead-beats discovered the spot and called it Londonderry, The claim was sold for £IBO,OOO, and floated into a Company in London, with a capital of something over half amillion. When all seemed to be going smoothly, the jeweller's shop suddenly vanished, as cleanly as though a burglary .gang had been at work. The .re-appearance of the reef in ■the Londonderry mine is the very salvation of Western Australia, for the collapse of the mine sickened rWXondon speculators yery greatly. IF the reports that have recently come to hand, respecting this famouß mine, are tine, a fresh impetus will be given to mining speculation. MIMXGIX NEW ZEALAND, I

The mining boom in New Zealand is a reality, and the output of gold ... warrants activity. During the ' quarter ending March 31st last, 67,203 ounces of gold, valued at r £267,588, were exported from the ' Colony, while for tho corresponding quarter of last year, 65,837 ounces, of the value of £265,874, were

exported, In Auckland, the boom is i particularly noticeable, and everyone visiting the northern City, seems to catch the fover of speculation, Mining scrip is changing hands freely, and many Wellingtonians are in the swim, Several now stand

to make several hundreds of pounds, and even at present market prices, i- some of them could turn over scrip at a huge profit. One individual bought into a certain mine at Bs, and in 48 boat's- the price of the scrip advanced to 10s, with a strong 'Wtvard tendency, TUB COLONIAL TREASDKKR. ' « The Bklio thus refers to tho visit Homo of the Hon, J. 6,Ward:— " The visit, we must take it, is purely and has nothing to do with, ior instance, the flotation in this

country of any companies in tho neighbourhood of Invorcargill. Still, it need not interfere with his attention to the political mission if ho should find timo for negotiations in connection with, say, J. 6. Ward's Farmers' Association, the Ocean Beaoh Refrigerating Company, the Hokonui Coal Company, tho Southern Investment Company, or any other local enterprise.

STOCKS. British 2f per cent. Consols (Goschen's) show no variation as compared with the previous week. In the i per cent. Colonial stocks a General advance is to be noted. West Australia has advanced 40s, tho South Australian quotation ex interest is equal to a similar movement, while all tho other denominations have moved forward half a point each. The quotations are as follows:

June June Move6 13 ment. Ken- Zealand W2S1 111 lmiiiselOs i\.S. Wales B);i ]M,VHlo'JiiselOs Victoria 1020 108 ■107 EiselOs S.Australia 10:1(1 100 100* - Queensland 192-1 MO* 100,1 EiselOs W.Australia 1031 118 120 Hiso'lOs *Ev interest. There is a corresponding advance in the 'i\ per cents. The youth Australian quotation m interest is equal to an advance of 5s on last week's price. The tablo of comparison is as follows :— Juno June JloyeG 13 ment. New Zealand 1910 103* 103.V Eisc 10s K.S. Wales 1924 105J 106 KisclOs Victoria 1023 102 j 103 Eisc 15s S.Australia 1030 101.! 103* Fall 30s Queensland 1021 10l£ 102 EiselOs Tasmania 1910 lOJJ 105 Eisc 10s *Z?.r interest. Pekoy Pram.