CHAMBER OF COMMERCE.

Globe, Volume XXIV, Issue 2465, 1 March 1882, Page 3

CHAMBER OF COMMERCE.

The quarterly general meeting of the members of the above was held at 330 p.m. yesterday. Mr W. Chrystall, president of the Chamber, occupied the chair. Messrs E. Williams, H. A. Watt, T. Brace, and P. Wilding wore elected as members of the Chamber on the ballot. The President said:—At the last quarterly meeting a resolution was passed authorising the committee to meet the promoters of the East and West Coast Railway for the purpose of ascertaining their views respecting the appointment of a Commission to report upon the soheme. This resolution also gave the committee power to act. After meeting the promoters and learning precisely what their requirements were, the committee, after careful consideration, decided that the best course to adopt was to nominate certain gentlemen in whom the Chamber would have full confidence, and lewe them to take their instructions from and report direct to the promoters. The committee had much difficulty in inducing gentlemen having the requisite qualification to undertake the work ; but they eventually succeeded in prevailing upon Measrs Inglis, Beaumont, and Mcllraith to do so, and, as you are all doubtless aware, those gentlemen have visited tne districts affected by the proposed railway, and have reported to the promoters. The report of the Commissioners, therefore, not being the property of the Chamber, nor before the Chamber for consideration, I do not think that it would be fitting on my part to review it on the present occasion. When the Hon. the Premier was in Chrißtchurch in December last the committee appointed a deputation to wait upon him for the purpose of ascertaining his views on various questions in which the Chamber was interested. This deputation waß very courteously received by the Premier, and among other matters which it brought under his notice was that of railway management as affecting the Canterbury district. The deputation endeavored to convince the Premier that it would not only be a matter of justice, but also of policy from a manager's point of view, that differential rates should be established between Timaru and t hristchurch, and the deputation supplied the reduced figures which they considered would secure for the railway the carriage of the produce that had hitherto for the most part been conveyed to Dnnedin by water for transhipment. The Premier, however, did not actually Bay that the deputation had converted him to their views. He said only in reply that the question was surrounded with difficulties, and that he would confer with the Hon. the Minister for Pnblio . Works on the subject. It seems evident that, bo I long as the political element is allowed to dominate the railway interest, the considerations which usually govern railway matters will only be permitted to operate when they happen not to be subversive of political ends. The deputation also urged upon the Premier the necessity for making some considerable reduction in the tariff on agricultural produce, and pointed out how heavily tbe present rates pressed upon the farming interest. In the meantime a email concession has been made by which Canterbury will be benefited to the extent of about .£IO,OOO during the present season. This concession U good as far as it goes, but the grain tariff I think must still be regarded as unreasonably high, and this view is one, I think, that should be kept under the notice of the Government. Another grievance in the matter of railway management which the deputation referred to was the apparently excessive charges for haulage and storage on goods landed at Lyttelton for transhipment, and in respect of this matter I think the deputation was able to convince the Premier that there was just cause for complaint. If no redress should follow, the committee will doubtless take the matter up again. In connection with this question I may mention that through united action on the part of the principal merchants, regular steam communieation has been established between Lyttelton and Timaru and Oamaru. and in view of the opportunity that is thus afforded for securing the trade of South Canterbury, which legitimately belongs to this place, it is especially desirable that the transhipment charges at Lyttelton shonld be made as reasonable as possible The deputation had also a conversation with the Premier about the necessity for certain amendments ia the Bankruptcy Act, the more important one suggested being that provision shonld be made for withholding the debtor's discharge until he shall have paid a certain dividend in the pound. The Premier replied that he would confer with Mr Whitaker regarding this, and intimated that Government would like to know whether the trading commnnity generally would be in favor of a provision of this kind. The committee has in the meantime considered the matter, and is prepared to recommend the Chamber to adopt a resolution approving of such a measure. When the resolution is submitted later on it will be for the meeting to deoide whether the minimum dividend should be 10s or 7s Gil. To obviate undue hardship to debtors whose insolvency might be purely the result of misfortune, it was further suggested that a clause should ba added providing tint npon the debtor obtaining the written consent of a certain majority of hie creditors, in number and value, he should be entitled to his discharge, even if he had not paid the fixed minimum of dividend in the pound. This provision as to withholding the debtor's discharge is one, I think, that is much needed. The facility with which insolvent persons can at present get rid of their debts cannot have other than vicious effects, and Borne more stringent measures would seem to be necessary in order to induce greater caution on the part of those who seek credit in order to be able to carry on their business. The Eoglish Bankruptcy Act, I understand, provides that the debtor shall pay 10s before he can obtain his discharge, except by consent of his oreditors. In the English Act I am also informed that there is, or was, a provision that persons not in trade should not be entitled to protection under the Act. It would probably be difficult to get a provision of this kind to work well in this colony, but it would seem to be one that is very much needed. Having analysed the declarations of insolvency throughout the colony for the last five months, I find that 25 per cent, of the number are by people not in trade, and who consist chiefly of persons described as labourers. It might also be remarked here that the colony would, perhaps, not greatly miss a certain class of learal practitioners whose special avocation would seem to be to pave the way through the Bankruptey Court for persons for whom its protection could hardly have been intended. At the request of the Premier the committee addressed Sir Henry Parkes at considerable length before his departure for America, on the subject of the United States' duty on wool. But from telegrams which have lately been published here it would appear that he is not hopeful of being able to induce the United States Government to repeal or reduce this duty. On the question-of a direct steam service the deputation elicited from the Premier that information was being collected in England, and that the report made by this Chamber on the subject had been considered and forwarded to the parties in England who had the matter in hand. In regard to the grain crop, it is to be regretted that considerable loss has been sustained by the shaking out of the grain by the north-west gales that prevailed while much of it was standing ripe. Before the commencement of harvest the yield promised to be about an average one, but so far as I have been able to learn, there will, from the cause mentioned, probably now be an average deficiency per acre of 20 to 25 per cent, as compared with last year's crop. Priceß are, however, fortunately about 15 per cent, better than they were last year, and the export value of the grain crop will thus probably be only 10 to 15 per cent, less than that of last season. The crop of wool has been good in quantity as well as quality, and growers have found a ready market at fairly satisfactory prices at the local auctions, the quantity of wool sold in this market having been considerably in excess of that of any previous year. It may, therefore, be assumed, that notwithstanding the comparatively small yield of grain, the two staple products of grain and wool, taken together, will again this season give results that will appreciably increase the general wealth of the district. These are all the topics on which I need address yen with respect to the committee work for the year. I will now call yonr attention to the question of the incorporation of the Chamber, which ia deemed advisable by the committee. Now that we are acquiring property, under our present _ constitution is a great deal of trouble in doing our business through trustees, ond.thtrefore, I bo<r to move—" That in the opinion of this meeting it is expedient that the Canterbury Chamber of Commerce chonld be incorporated under the Joint Stock Companies Act 1860 and the Amendment Act 1830; that the draft memorandum of association, articles of association, and by-laws submitted to the meeting be ndopted, with snch modifications as the committee may deam advisable; and that the comrr ittee be authorised to take the necessary steps to have the association registered and duly constituted as soon as possible." Mr A. C. Wilson seconded the motion, which was put and carried unanimously. The President moved—" That in the opinion of this Chamber it is urgently necessary, in order to induce greater caution in trade, and to prevent the abuse of credit, that an amendment should be made in the Bankruptcy Act, providing that no debtor shall receive his discharge until he shall have paid a dividend of not lesß than 10s in the £ ■ but that persons whose insolvency may be purely the result of misfortune may, on obtaining the written consent of three-fourths of their creditors in number and value, receive their discharge, even if they have not paid as much as 10s in the £. Mr Harley seconded tho motion. Whilst not fully agreeing with the amonnt fixed—los in the £—the saving clause in the resolution prevented the sought for provision being a hardship on the unfortunate trader. Mr Inglis suggested that it should be a majority in valne, and not as now proposed, who should be able to give a debtor his discharge, though not paying 10s in the £. It was now , most difficult to get an attendance at meetings, and when it was for the discharge of the debtor

not paying 10a in the £, there would be even more difficulty in getting a meeting. The motion was then pat and agreed to. In reply to Mr Cooke, the President said the architect for the building' bad promised the plans that day, and so soon aa they were received contracts would be advertised for at once. The meeting then adjourned.