CHAMBER OF COMMERCE.

Globe, Volume IV, Issue 335, 9 July 1875, Page 3

CHAMBER OF COMMERCE.

The regular monthly meeting of the committee of the Chamber of Commerce was held on Thursday afternoon. Present—Mr Nathan (chairman), Messrs Aynsley, Hassell, Inglis, Lane (vice chairman), Palmer, Macpherson, Coats. A large amount of business was transacted.

A letter was read from Mr Dymock, tendering his resignation as a member of the committee, in consequence of his departure from the province. The secretary was instructed to express the great regret of the Chamber at loosing his valuable services as a member of the committee, of which he has always been a very active member. Mr Macpherson drew the attention of the committee to a circular received from the secretary of Lloyd’s, relative to form of average bond, of which the following is a copy : “ Lloyd’s 187

“ The attention of the agency committee of Lloyd’s having been directed to the forms of Average Bonds, some of which are frequently of an objectionable nature, they have referred the subject to the consideration of the best authorities, and the annexed form has been prepared, which it is considered, while protecting the interests of the ship owner, will leave the merchant and underwriters unfettered in the treatment of the average. •‘ln the bond commonly used, the accident which gives rise to the average is assumed and admitted, and can never afterwards be questioned, however unfounded may be the statement upon which it is made. A second objectionable practice is that of constituting it an arbitration agreement, referring the average to one firm, without appeal and without power of correction. It is the merchant and not the underwriter who is bound by the average agreement, and as the merchant is precluded from questioning the statement when made up, although he may be aware that the particulars alleged in it have no foundation in fact, he may be placed in a position of having assumed, on behalf of the underwriter, a liability which the latter is not prepared to accept, and which therefore may revert to the merchant —a practice which, in some cases, might operate very seriously to his prejudice. “ The alterations proposed by the committee being of so simple a nature, and merely designed to obviate an evident evil, it is hoped they may be generally approved and adopted, “ I am, yonr obedient servant, “Henby M. Hozibb, “ Secretary.”

“ An agreement made this day of 187 between master of the ship or vessel called the and the several persons whose names or firms are set and subscribed hereto, being respectively consignees of cargo on board the said ship of the other part. Whereas the said ship lately arrived in the port of on a voyage from and it is alleged that during such voyage she met with bad weather and sustained damage and loss and that sacrifices were made and expenditure incurred which may form a charge on the cargo or some part thereof or be the subject of a general average contribution but the same cannot be immediately ascertained and in the meantime it is desirable that the cargo should be delivered Now therefore these presents witness and the said master on his own behalf and on behalf of his owners in consideration of the agreement of the parties hereto of the second part hereinafter contained hereby agrees with the respective parties hereto of the second part that he will deliver to them respectively their respective consignments on payment of the freight payable on delivery if any and the said parties hereto of the second part in consideration of the said agreement of the said master for themselves severally and respectively and not the one for the others of them hereby agree with the said master that they will pay to the said master or the owners of the said ship the proper and respective proportion of any general average or particular or other charges which may be chargeable upon their respective consignments or to which the shippers or owners of such consignments may be liable in respect thereof to contribute to such damage loss sacrifice or expenditure and the said parties hereto of the second part further promise and agreeforthwith to furnish to the captain or owner of the said ship a correct account and particular of the value of the goods delivered to them respectively in order that any such general average and other charges may be ascertained and adjusted in the usual manner,” “ In witness.”

Messrs Palmer, Aynsley, and Inglis, with the chairman, were appointed a sub-com-mittee, to prepare the annual report for presentation to the general meeting in August, which was fixed for the 19th of that month. After transacting other routine business, the committee adjourned.