CHAMBER OF COMMERCE.

Globe, Volume VI, Issue 607, 30 May 1876, Page 2

CHAMBER OF COMMERCE.

An adjourned meeting of the Chamber of Commerce was held yesterday afternoon; Mr Peter Cunningham in the chair. Tbe chairman said it had been considered advisable to adjourn the last meeting in order that the members might consider the report of the committee on the. Debtors and Creditors Act before discussing it. Since then the sub committee had met and made certain additions to the report. Mr Inglis then read the additional suggestions of the sub-committee, and moved—- " That the two suggestions be added as clauses to the report." Agreed to. The chairman stated that the report of the sub-committee was now open for discussion. Mr Inglis moved—" That the report of the committee be adopted and forwarded to the Minister of Justice and the different Chambers of Commerce throughout New Zealand." Mr Connall seconded the resolution, and was sorry no other member of the chamber had spoken to it. If it were to fall through now it would not be very complimentary to the sub-committee, who had done their best. Mr Hassall wanted to know how this matter had come before the chamber. The Chairman said they had been asked some three months ago to consider the question of the Debtors and Creditors Act. On tbe 13th April a sub-committee was appointed to consider the working of the new Bankruptcy Act, and bring up a report. But it arose more through a circular which they had received from the Wellington Chamber of Commerce. Mr Hassan was sure that the names of the committee who had drawn up the report was a sufficient guarantee as to its value. It was one of the most important subjects that had ever come before the Chamber of Commerce. The committee was in his opinion deserving of the thanks of the Chamber for the care and trouble they had taken in drawing up the report. Mr Selwyn Smith thought that instead of endeavoring to engraft anythirg upon the present Debtors and Creditors Act, it would be better to cut the present Act away altogether. The Chamber should pause before making a proposition to the effect that two or three creditors might decide upon a debtor's action in his absence, and bring him within the fangs of the law. The whole thing was a very serious and a very troublesome one. He would suggest that the matter should be remitted back to the committee; as it was the debtor would be nowhere, as there would be no one to take charge of his property. He felt that every member of Chamber was committed to the recommendation of the Chamber, and he coald not; therefore, agree with a clause that would not hold water. His own opinion was that they should recommend an entirely new Act. The Acts of Victoria and New South Wales worked well, and there was no reason why they should not be introduced here; The Ohamber ought not receive the report, but should remit it back to the committee, and he moved an amendment to that effect. Mr Meyers seconded the.amendment,; In answer to a question, the chairman replied that the Government had not asked for information from the Ohamber on the subject. Mr Inglis thought it rather an extraordinary thing that, after the committee had done what was required of then by the

Chamber, they should now be asked to do something else. If their report was not acceptable to the Chamber, then let them negative it, and not call upon the committee to do something entirely different from what they were asked to do in the <irst instance. To do so would be anything but fair or courteous to the committee. With regard to the general question, and asking the Government to give them an entire new Insolvency Bill, they might just as well not do anything at all, for they would sot get a new Bill during the next session, and therefore the only thing they could do was to get it amended. The amendment was then put and negatived, and the original resolution carried unanimously. The meeting then adjourned.