CHAMBER OF COMMERCE.

Globe, Volume XXII, Issue 1870, 20 February 1880, Page 3

CHAMBER OF COMMERCE.

The quarterly general meeting of the members of the Chamber of Commerce was held yesterday. Present —Messrs G. G. Stead (president), Nathan, Allan, Cuff, Fletcher, Cameron, Ohrystall, Cunningham, Taylor, A. O. Wilson, Strange, Louiason, Oonnall, W. R. Mitchell, Caro, Pavitt. A ballot was taken for the election of Mr P. Trent as a member of the Chamber, which resulted in his election. The President said that since the last quarterly meeting the committee had filled up two vacancies by the appointment of Mr F. E. A. Graham and Mr Connall in the room of the late Mr Hassal and Mr Beaumont. The question of transfer of fire policies had been before the committee, and a series of resolutions had bean drawn up by Dr. Foster, and would be submitted to the Chamber. The only other matter was the deputation which had waited on the Minister for Public Works on the preceding day. It was scarcely necessary for him to refer to this matter at length, as the reports had appeared in the newspapers. From this the Chamber would see that the deputation had done all they could to bring the matter forward. The British Government, in response to the request of the Chamber, had despatched a man-of-war to the Orozets to search for the missing ship Knowsley Hall, but nothing had yet been heard. He would now read the resolutions prepared by Dr. Foster on the subject of the transfer of fire insurance policies. Mr Nathan’s resolution was as follows: —“That transfers of policies of insurance against fire risks shall be illegal, unless security has also been given over the property comprised in the policy, in which case the transfers of policies shall be treated in the same manner as bills of sale, registered accordingly, and subject to the same provision in respect of bankruptcy.” The resolutions proposed by Dr. Foster, and carried by the committee were as follows : —“ That this Chamber disapproves of the growing practice of taking transfers of fire policies by way of security without taking any security over the insured, and considers that all such transfers ought to be made illegal. The Chamber further considers that such transfers of policies ought to be included under the Bills of Sale Act, and registered accordingly, and ought to bo made subject in all respects to the provisions of the said Acts relating to assignments of personal chattels, including bankruptcy. That the Attorney-General be requested to introduce the necessary measures for carrying the above resolution into effect.” Mr Nathan said that to bring out the discussion he would move —" That the resolutions, as prepared by Dr. Foster, be adopted by the Chamber.” He referred to the discussion at the former meeting of the Chamber, and pointed out that it would be to the detriment of the trading community if the fire policy over chattels should be looked upon as more security than the amount of the policy paid. He did not mean of course to interfere in cases where the chattels were legally transferred by means of securities. In a recent case it was stated that the banking institution with whom the insolvent was doing business held his fire policies. Had a fire occurred the Bank would step in and obtain the whole of the insurance money, leaving the other creditors without anything. In cases of bills of sale, &c., there was notice given, so that traders knew the risk they ran, but in the transfer of fire policies, such as he had referred to, there was no such notice, and they might hear of an insolvency and a fire taking place, when one creditor might step in and take the whole. He thought such a practice was fraught with great danger to the trading community, and therefore he moved the adoption of the resolutions. Mr Cunningham seconded the motion, which was carried with one dissentient.

The Chairman said that Dr Foster had forwarded a draft bill with the resolutions. Mr Cunningham pointed out that the bill had not been considered by the committee, as they thought the Bill should be brought in by the Government. Mr Allan said he should like to bring under the notice of the Chamber the exceptional or discriminating rates charged on the Lyttelton and Christchurch railway. Mr Oliver, replying to a deputation in Dunedin, said :

“ Some idea seems to have got afloat that discriminating rates will be adopted, based on the cost of the lines in the various districts. Now I would say generally that such an idea never entered into my head. It would be monstrous if, because the Otago system, which has necessarily been over rough country, cost a great deal more than the Canterbury system, this were to lead to our being charged much more for the carriage of our goods, and so to heavily handicap the articles on which the trade of Otago depends. Such an idea has never entered into my head, and I am glad to be able to have the opportunity, through reporters being present, of stating so, and of letting it be generally known.” If those remarks stood good in Otago, they had a right to expect that they should apply to Canterbury. He held in his hand the rates of carriage issued by the present Minister, which embraced four charges, A, B, O and D. But there were exceptional local chargee. On the Christchurch and Lyttelton line the charge was 3s per ton, while on the Dunedin and Port Chalmers line only 2s per ton was charged, or a very large amount in favor of the Dunedin importers. In Invercargill it was the same, goods being charged at the lowest rate, class D. There was no competition with water carriage as in Dunedin. The Lyttelton and Christchurch line was the most paying part of the lines in the whole colony, and he thought it was probable that they were charged with the cost of the tunnel, still it was not fair that they should have to pay more than their neighbors. He should move—“ That the committee be requested to examine into the exceptional rates in force on the Lyttelton and Christchurch line, and draw the attention of the Government to it.” Mr Cuff seconded the motion.

The President said that if Mr Allan withdrew the motion he thought that prompter action might be taken by a deputation waiting on Mr Oliver during hie visit here, which would not be the case if referred to the committee.

Mr Allan said ho would agree to this being done. He would withdraw his resolution, and move instead—“ That the president, vicepresident, and the mover be appointed to examine into the exceptional rates obtaining on the Lyttelton and Christchurch Railway, and bring the same under the notice of the Hon. Minister for Public Works.”

Mr Cuff seconded the amended motion, whieh was carried.

The meeting then adjourned.