CHAMBER OF COMMERCE.

New Zealand Times, Volume XXXII, Issue 5005, 9 April 1877, Page 6

CHAMBER OF COMMERCE.

The annual meeting of the Chamber of Commerce was held at the Chamber on 2Stli March, Gf. Hunter, Esq., M.H.lv., deputychainnau, presiding in the absence from the colony of W. H. Levin, Esq., the chairman. MINUTES. The minutes of the previous meeting were read and confirmed. t’HAiUmax’s address. The Chairman said : The business of the meeting, as set forth in the advertisements and circulars is the reception of the annual report and statement of accounts, and the election of officers. It has been usual for the gentleman who has the honor to preside at the annual meeting to make a few preliminary remarks, and thinking of what kind of information would be of most service to the Chamber, I thought perhaps if we looked into our position from a statistical point of view, and observed the progress we have been making during the last twelve months, that that might perhaps be of service hereafter. Therefore, I have taken out a few figures. First of all I should like to explain that there are two sots of statements published by the Government annually. There is what is called the statistics —the Blue Book of the colon}’ — which carries the business of the colony from Ist January to the 31st December; and there is also the financial statements, which Generally accompany the treasurer s statement, and deals with the occurrences of the year extending from Ist July to 30th June. Sometimes a little confusion arises, as the two yearly statements necessarily do not agree, as they are made out at various dates, although when carefully looked at the result works out the same iu the end. The first poiut to which .attention must bo given iu considering our progress is our past and present position with regard to population, for we must recognise that population is the great producing power of a colony. Well, I think we are making a satisfactory advance in the numbers of our population. On the 31st December, 1875, the total population was 315,356, made up of 213,294 males and 162,562 females. Of course the Bine Book for 1876 is not out yet, but X have good reason to believe that when it appears it will be seen that our population will be over 400,000, showing an increase of something like 25,600. The births fox 1875 were 14,438, and iu 1576 16,168, while the deaths , for these two years were 5712 and 4904 respectively, consequently there was a large natural increase, as there were 1730 more births and SOS fewer deaths in 1876 than in the previous year. Although it is a good while ago, I may just refer back to 1854, when our population was only 32,554, and the births 1460, the deaths 470. This I think is a satisfactory proof of the progress we are making. Now, to come to exports and imports. In 1575 onr imports were valued at £3,029,172, while in 1876 the value was set down at £6,904,889, consequently there was a decrease of £1,124,283 in the value of our imports ; but this I think may to some •extent be accounted for by the fact that the Government have been during the last twelve months importing a much smaller quantity of railway material and plant than for the preceding years ; and I have further been informed by persona more intimately connected with the trade than I am that the importations of soft goods during the last twelve months have been on a very reduced scale. About the end of 1875, stocks were very large in New' Zealand, and also in the Australian colonies generally, and it was necessary to import with great care. Of course it is prudent aud wise to reduce importations under the circumstances, and I think it will be found when the Blue Book is issued that the reductions are in the articles referred to. I may be told further that there is also a reduction in the exports as well as in the imports. The ■figures are as follow: —1875, exports £5,828,627; 1876, £5,629,333, a decrease of £202,294. But it is fair to mention that in 1875 there was among the exports one line of 200,000 ■sovereigns, and there were 36,955 ounces • of gold less exported last year than iu the previous year, the value of this being £139,211. These two items make a considerable difference. The exact figures of the gold exports are as follows '. —1875, 355,3220 z., valued at £1,407,770 ; 1876, 318,3670 z., valued at £1,263 559 ; showing a reduction of 36,9550 z., of the value of £139,211. There is a peculiar feature about the wool exports which I cannot quite explain, for, while the weight of wool exported is larger than that of last year, yet the value is less. The exportation in 1875 was 54,401,5401 b., valued at £3,398,155 : while that of last year was 59,853,4541 b., valued at £3,395,816. Thus the increase iu the weight was 4,994,2761 b., and the reduction in value £2339 ; this is how it appears in the return, but I cannot explain theanomally. Lastseason wedespatched eight wool ships from Wellington—that is, between Ist November, 1875, and 31st May, 1876 —and some 32,000 to 33,000 bales were shipped. This season seven vessels have been despatched, and there is now one on the berth. Up to the present time, so far as I can gather, upwards of 35,000 bales have been shipped. In • 1872 the exports of wool for the whole colony were 103,000 bales; 1873, 117,500 hales : increase on the year, 14,500 bales ; 1874, 139,400 hales ; increase on the year, 21,900 bales ; 18/5, 151,300 bales; increase, 11,900 bales ; 1876, 163,800 hales, increase on the year 12,500 bales ; total increase during the four years 60,800 bales. These figures are eminently satisfactory, aud it is pleasing to know that they are admitted at Home. In a circular, dated Ith of December, issued hy Messrs. Dalgety, DuCroz, and Co., it is stated that the increase of wool production in the colony for the last four years is about 60 per cent. Assuming this wool to have been worth £lB per bale, the value of the increase is represented by £1,094,400, and I need riot tell those acquainted with the Character of the country that as the colony becomes improved the production of wool will continue to increase, for the land will carry much larger amount of stock than is at present placed upon it. Of other articles of export I can say but little, as I have not been able to obtain any detailed statistics. So far as flax is concerned, that item of export is practically at an end, and before long it will be referred to as a thing of the past, unless some more profitable means of turning it to account be discovered. The export of grain, so far as this part of the country is concerned, is slight, but from what we have heard of the returns from the South Island, they appear to have been highly satisfactory, and we can only hope the yield will continue to increase. The timber exports appear to be small, but we must not forget that there is an increased demand for timber both here and in other parts of the colony, which is calculated to lessen our exports to a certain extent ; and in respect of the exports of butter, cheese, bacon, &c., v/hich are alleged to be decreasing, it must also be remembered that our own market takes much larger supplies than it did of old. I venture to think there is no falling off in the production, and that people on the whole get from the nearer market a much better return for their industry than they formerly did from the foreign markets. I had hoped to get up some returns of the Oustoms duties—a very important element in our statistics, and in respect of which there has been a good deal said lately. Wo hear it commonly reported and asserted in the public papers that there has been a great falling off in the Customs duties, but I have reason to believe the falling off is more imaginary than real, and that the diminution ou the estimated revenue does not much exceed. £II,OOO up to the end of the year. Tins quarter s account is not yet made up, but X believe it compares favorably with its predecessors, so that persons who say there has been a large falling off q the Customs revenue are scarcely waranted in making such statements. The renlte for the past two quarters may be summed in and compared as follows : —Quarter ending' Jeptember Bb, 1875, £312,472 ; quarter end*g September 30, 1876, £303,430 ; quarter ndin" December 81, 1875, £303,608 ; quarter iidin" December 31,1876, £294,128 ; quarter ending March 81, 1876, £317,744. Iu the case of the railways also I have been unable to get all the information I wanted. In considering the subject we must not lose si"ht of the fact that the colony is paying some £170,000 to £200,000 interest on money

which has been spent in constructing railways not yet completed. So soon as these railways are completed, they will bring m returns to cover this interest, and possibly also something for revenue purposes. The estimate of receipts from colonial railways for twelve months was £132,200, aud from provincial railways £212,800, giving a total of £345,000. The actual receipts for colonial lines for six mouths have been £42,891, and for provincial lines £166,666. This is considerably under the estimate, but it must be borne in mind that the past six months of the financial year, from June to December, are the least productive. Wool, "rain, and other articles come to hand freely during the mouths of January, February, and March. The profit was estimated at £84,241; according to the present average it has only reached £63,458, showing a deficiency of £20,783 ; but iu all probability this will be made up during the last half of the financial year, say between January and June. A statement which I hold in my hand, prepared by Mr. Buchanan, gives a synopsis of the revenue of New Zealand. The revenue of the colony for 1875 was as follows :—Customs, £1,667,275 ; land fund, £665,933 ; total, £2,333,208. In 1876 it was follows :—Customs, £1,731,996 ; land fund, £1,127,564 ; total, £2,859,560 ; showing an excess for the year of £526,352. In the financial statement of the Treasurer last year, p. 25, there is a statement of ways and means, in which is estimated the revenue for the current year. I have dealt with the Customs revenue, and shown how it stands so far, and with respect to the other items upon which the Treasurer relied I may say a few words. The stamp and postal revenue shows an increase, and so do the laud sales. The revenue under this latterhead wasestimated to reach £647,000, but some days ago the receipts had readied £654,000, and it is quite expected they will come up to £1,000,000. The gold revenue I have already dealt with, but no doubt the effect of the late successes in the North will lead to a large increase. I have also looked into another matter, namely, the bank returns. The statistics for 1875 and 1876 show that there was in the latter year an increase of deposits bearing interest of £436,743, deposits not bearing interest, £95,001 ; total increase, £531,474. The total amount of deposits not bearing interest now reaches £2,559,223 ; bearing interest, £2,878,141 ; grand total, of deposits, £5,437,364. Notes aud bills discounted in 1875, £4,382,582; 1876,£4,890,177. Debts: 1875, £4,080,600 ; 1876, £4,647,798. Total: 1875, £8,431,182; 1876, £9,537,975; showing an increase of £1,106,793. To meet this they had deposits: 1875, £9,405,890; 1876, £9.537,975. Notes in circulation : 1875, £885,874; 1876, £841,691. Government deposits : 1875, £1,061,314 ; 1876, £731,637. Total : 1875, £6,853,078 ; 1876, £7,010,692. These figures show progress in the hanking business. I dare* say you have noticed some x-eference in the London Times to the Christchurch loan, in which a not very pleasant remark was made, something to the effect that by this time the colony should be in a position to provide these moneys within itself. But the writer and other writers who take up the same cue seem to forget that we naturally go to the cheapest market for our money, and that as long as we can get money cheaper there than in the colony we shall continue to go there. The figures I have quoted show we could get the money here if we chose; but it is too dear here. Besides this, it is well known that it is one of the advantages the Mother Country derives from her colonies that they not only offer a market for her goods, but present a field for profitable investment on the part of English capitalists. We pay them for the money we get, and so long as we can get it on reasonable terms, it, is their interest to lend. I remember many years ago —before coming to this colony—reading a book called “England and America,” written by Edward Gibbon Wakefield, the founder of this colony, in which it was pointed out that one of the advantages of establishing colonies was, that .they afforded a field in which the surplus capital of the old country might be employed, and yield a reasonable return to the capitalist. Mr. Wakefield saw that the field afforded by America was closing up, and that these colonies would take its place in forming a receptacle into which English capital might flow. I think it is to our advantage, and to the advantage of the English capitalist, that we should not raise these sums within our own colony. My late colleague in the representation of the city, Mr. Pearce, not long ago referred to some remarks which had been made by an English papei - , the Economist, the writer argued that as we had spent £20,000,000 in the colony lately, it must necessarily be prosperous. This paper however seemed to forget, or perhaps did not know, that £3,521,951 had been spent by the provinces, and was chargeable against them till the provincial loans were consolidated a few years ago—that something over £6,000,000 had been spent in war, wasted as it were—and that only some £10,116,300 had been spent in constructing public works and introducing immigrants into the colony. As a fact, only some £6,866,300 has been expended in the colony, extending over a period of six years, not much more than £1,000,000 a year,not £2,000,0000r £3,000,000, as stated by the writer in the Economist. Mr. Pearce also overlooked the fact that the colony has been paying out of its own revenue a large sum annually for interest on the loans. I may say, gentlemen, that there appears to be, unfortunately, a sort of jealous feeling towards New Zealand, which frequently makes itself manifest. All of you will remember very well that Mr. Anthony Trollope visited New Zealand in the year 1872, and that when ho 'returned to England he wrote a book descriptive of the British colonies. Amongst other things he stated’ the extent of the revenues and populations of the various dependencies, as follows :—Canada : population, 4,283,000 ; revenue, £4,500,000 ; expenditure, £4,574,000. Victoria : population, 731,000 ; revenue, £3,175,000 ; expenditure, £3,273,000. New South Wales : population, 485,000 ; revenue, £3,890,000 ; expenditure, £3,494,000. Jamaica : population, 441,000 ; revenue, £414,000; expenditure, £355,000. In New Zealand the population was at that time 283,000, the revenue £1,864,000, and the expenditure £3,890,000. The author said: “With a population not quite a fifteenth part of Canada, New Zealand can spend aa amount of public revenue less than that of Canada by not quite a ninth. While Canada spends little more than £1 a head, New Zealand spends more than £l3 a head.” But in this estimate Mr. Trollope left out the provincial revenues and the whole of the land fund ; and I give this as an illustration of how people run away with erroneous ideas, and disseminate them. To show the absurdity of Mr. Trollope’s representations with respect to New Zealand it is only necessary to remember that ourland revenue at that time was considerable; while for years past it had been varying from £700,000 to £1,000,000 of money, and there were at that time largo provincial revenues, not taken into account at all. Had the actual sources of income been recognised the revenue would have been found to amount to something more like £2,500,000, and very possibly more. As making what I have now stated still more clear, you are all aware, probably, that there is a publication printed iu London called “Westgarth’s Circular.” Itpublishoseveryyearatable givingparticulars as totheconditionandprogress of the various colonies; but the editor of that publication, for some reason or other beat known to himself, continued up to a very recent period to represent our revenue as being what it was two years previously, whilst he advanced the Australian revenue year by year. .Substantially the matter stood thus: he represented our revenue as being £1,627,000, whereas it should have been £2,841,953. The comparison was being made between ourselves and the colony of Victoria; in one dependency the population being more than double what it was in the other, Victoria numbering something like 822,000 persons, as compared with 400,000 in New Zealand. But now let us come a little nearer home, and look at something which appears in an article xvritton by the Wellington correspondent of the Melbourne Argus of March 3. The particular point to which I desire to draw your attention is this : speaking of the present financial position of the colony, the writer of that article says;—“Our Customs

revenue for the last quarter of 1876 shows a decided falling off, which is not by any means satisfactory. The Government has, therefore, I think been rather short of money lately, and public works have not been pushed on very much.” Now, with regard to the Customs revenue, I have reason to believe that up to the present time there has been only a diminution of £II,OOO between the actual amount realised and the actual snm estimated, so that such an assertion as that made by the Wellington correspondent of the Melbourne Arr/us is not in the slightest degree warranted. Aud then, gentlemen, as to the Government being short of money, contractors and others ought to know better than I do ; but all I can say is that if it be so, I have heard no hint of it. I believe all demands have been met by the Government in the most ready way, aud the credit of the New Zealand Government has been evidenced by the late successful negotiations with the Bank of New Smith Wales, with the Bank of Now Zealand, and subsequently in this colony. Therefore it is satisfactory to find, when our credit is assailed iu and out of the country, wo are abletoourselvesdemonstratothattheCovornmont enjoys the confidence of these important as.-- 'nations, and thatif it should be deemed judicious to abandon for a period the idea of obtaining advances iu London, we can arrange thorn among ourselves audourown people ; for it may be said that certain of the banka are essentially colonial institutions, the capital being subscribed by people iu the colonies. I do not think I have much more to say on this subject, and I hope I have not wearied you so far. The subject is dry and uninteresting for a speech ; but perhaps when it appears in print, aud is followed up, there may be found in it information which is useful for us all. There is nothing like knowing our position, and I think the more we investigate and look into these matters the more satisfied we shall be on the whole that New Zealand is in a healthy state, and that her political and commercial relations are eminently satisfactory. Referring again to the Arr/us, the same writer mentions that “work seems plentiful, and wages keep up, although on - all sides complaints are heard about money being tight and the times hard. Still, however, thenumberof insolvencies is not large, and things seem pretty prosperous ou the whole.” That seems rather a contradictory statement, because when money is scarce the remit indicated thereby usually fellows. However, I agree with the writer that tilings are pretty prosperous on the whole. (Heax-, hear.) The Secretary then read the annual report and balance sheet, as follows : REPORT. “Your committee, on the completion of their term of office, beg to submit the following report of the proceedings of the Chamber for the past twelve months. “ Precautions against Fire. “ One of the earliest matters which engaged the attention of your committee, was the urgent necessity that existed for the adoption of additional precautions with the view of diminishing the dangers and risks attendant xxpou fire. One of these was the enforcement of building regulations, such as those framed by the Corporation as far back as 1873. Strong representations were made to the City Council, which resulted in suitable regulations being adopted, to be made gradually and progressively applicable to the whole of the city. “ Another safeguai’d suggested, was to increase the water supply by pushing on the construction of the second reservoir, and to make the supply more promptly available in case of fire. In both these particulars, it is satisfactory to know that the suggestions of the Chamber have received effect at the hands of the City Council. “Extension of Jurisdiction of R.M. Court. “ At the suggestion of this Chamber the jurisdiction of tlxe Resident Magistrate’s Court of this district has been extended to cases not exceeding £IOO. “ Harbor Board. “A subject which has occupied a very prominent place in the transactions of the Chamber during the year under review is the question of the formation and endowment of a Harbor Board for this port. The steps taken with the view of attaining this object will he within the recollection of members, and need not be recapitulated here. It may suffice to say that after considerable negotiation with the City Council, terms were arranged for the transfer from the Corporation to the proposed Harbor Board of the Queen’s Wharf and warehouse and the Te Aro foreshore. The views of the Government as to fui’ther endowment were ascertained, and a Bill to give legal effect to the wishes and labor of the Chamber was introduced into Parliament during last session. This Bill was passed by the House of Representatives, but was so materially altered in the Legislative Council as to become useless, and was therefore withdrawn. “ Wharf Accommodation. “ The pressing necessity for increased wharf accommodation has continued to engage the attention of the Chamber, and was one of the wants which it was hoped would have been supplied through the formation of the proposed Harbor Board. It is, however, gratifying to know that there is a prospect of the same result being brought about in a different manner, as the Wellington Loans Consolidation Act, which was also introduced into Parliament last session by one of your members and passed, has put the Corporation into a position to carry out this among other very useful public works. Recent telegraphic advices from England announce the successful floating of the consolidated loan at very satisfactory rates. Tenders for the work have already been called for. “ Drainage and Sewerage. “ The consolidated loan also provides funds for these important objects, and the City Council is now considering an elaborate scheme for the necessary works. “Bankruptcy Laws. “The Debtors and Creditors Act, 1875, having been found very unsatisfactory in its operation, has been superseded by the Debtors and Creditors Act, 1876, which came into force on tho Ist November last. The Government did this Chamber the honor to invite suggestions on the provisions of this Act, and on the framing of rules under it. The present Act has not been long enough in operation to warrant your committee in expressing an opinion as to its efficiency or otherwise. “ Warehoused Goods Act. “ On this subject also the Government invited tho Chamber to offer suggestions. “ Public Works. “ Tho railway works to connect the city and port with the East and West Coasts are still being carried on, but not with such rapidity as your committee could wish. The engineering difficulties on the Wellington and Masterton line have doubtless been of a very serious character, and have aa yet been partially overcome. The Rimutaka has been pierced by the tunnel, but the railway into the Wairarapa Valley is still far from completion. The Goveimment have recently taken some preliminary stops, with tho view of laying off the line between Foatherston and Masterton. “ Premises. At the date of the last annual report, the committee had to regret the non-success of its endeavors to obtain suitable accommodation for the Chamber. This deficiency has now been supplied by the leasing of premises which ai’o sufficient for its present requirements. A fair supply of newspapers has, through the liberality of proprietors, already been secured for the use of members, and it is hoped will gradually be increased. “ Telegraphic Communication. Your committee are glad to be able to record the recently completed successful laying of a second cable across Cook Strait. The risk of the inconvenience attendant upon a break iu the cable will thus bo considerably reduced. It is to bo hoped that the conference on telegraph matters which has recently been held in Sydney, will result in increased facilities being afforded for communication with Europe and other countries. “ Kerosene Bond. “ Tho attention of your committee having been drawn to tho inconvenience arising from the absence of facilities for storing kerosene in bond, a deputation waited upon the Hon. the Commissioner of Customs, with the view of getting this deficiency supplied. The Commissioner intimated that if a proper building wore provided either by tho Corporation or by

private persons, there would be no difficulty in having it licensed as a bond. The same deputation waited on his Worship the Mayor, to suggest the removal of the kerosene store to a more appropriate site, as well as to make such alterations in it as would render it suitable for a bonded store, with separate accommodation for the article when duty-paid. The Mayor promised that the subject should receive the best attention of the Corporation, and your committee commend the matter to the attention of their successors in office. “ Canada.

“The Chamber was recently called together to meet the Hon. J. Young, a special commissioner from the Dominion of Canada, who had been deputed to visit the Australasiau colonies with a view to promote the introduction into these markets of Canadian manufactures, and to gather information as to the prospects of establishing reciprocal business relations between these colonies and the Dominion of Canada. Mr. Young stated that a large collactien of specimens of Canadian manufactures was on its way to Sydney, to be shown in the exhibition about to be held in that city, and suggested the appointment by the New Zealand Government of a special commission to visit the exhibition and report upon the suitability of these productions for the requirements of the colony. “ Bills of Sale. “ This is a subject which your committee deem well worthy of the consideration of the Chamber. Tire existing laws by which a debtor is enabled to give a bill of sale over goods which have only recently been purchased and not paid for, to secure au existing liability, is open to grave abuse ; and your committee believe that any amendment of the law which would remedy the defect here pointed out, would be hailed with satisfaction. “ Fire Insurance. “Although the companies represented in Wellington are numerous (13 iii number), there is considerable difficuly in effecting insurances. There is at present a very- large amount of property within the city totally uninsured, and your committee would be glad to see means devised by which such property might be to some extent covered. Your committee recommend the whole subject to the consideration of their successors, as being of very great importance to the mercantile community. “ General. “ The intervention of this Chamber has, during the past year, been sought on a variety of matters, among which may be mentioned the subject of the imposition of regulations for the removal and transport of gunpowder, and the site of the powder magazine; the New Zealand port of call for the San Francisco mail steamers ; regulations as to life-saving appliances to be carried by vessels, &c. It is unnecessary to dwell upon these in the present report, though they tend to demonstrate the usefulness of the Chamber. “ New Members. “ During the year, seventeen new members have been elected, and ten of those on the roll for 1875 have ceased to be members. Nine gentlemen are nominated for election at this meeting; if elected, the number of members will amount to over a hundred. “ Statistics. “ Statistical tables will be found appended to this report, continuing the records of the trade of the colony from the last annual report of the Chamber. These will be found to exhibit a very satisfactory result as regards Wellington. “Funds. “ A statement of receipts and expenditure for the past year will be found annexed to this report. The position of the Chamber is satisfactory, notwithstanding the exceptional expenditure in furniture, &o.” BALANCE SHEET. The statement of accounts showed that the receipts for the year had been £407 7s. 2d.; expenditure, £192 16s. lid., which left a credit balance of £214 10s. 3d. Mr. Hdntbu said it now became his duty, as the occupant of the chair in the absence of Mr. Levin, to move the adoption of the report which had been brought forward by the committee. It did not appear to him that he should be required to occupy much time in speaking to the report. With reference to the first matter alluded' to by the committee, namely, regulations for protection against fire, he should, have been, glad to have seen them brought into force by the Corporation at an earlier period, and thought they might very well be more strictin form. His opinion was that sufficient attention was not paid to such regulations as already existed; and this opinion was based upon his own observation. As to the extension of the jurisdiction of the Resident Magistrate’s Court, he thought it would bo convenient that Wellington should follow the rule which • obtained in some other places, and extend the jurisdiction to £2OO. The subject of a Harbor Board was one which ought to engage the attention of the public, that Chamber, and the Corporation. A Bill was introduced last session for the establishment of a Harbor Board, but it was found impossible to carry out the project, owing to the clause which gave power to borrow being struck out. One of two things would have to be done. It would be necessary either to pass a Bill giving increased powers to the Corporation, and so enable that body to deal with the harbor works, or otherwise resuscitate the old Bill, and try to get it passed. It was quite clear that something would have to be done, as the matter was one that deeply affected the city. At the present time there was not any provision made for harbor works. It was evident that something should be done towards the partial reclamation of the Te Aro end of the town, and at as early a period us possible. Regarding the wharf accommodation there were many complaints abroad ; and he might say to-day what he should have hesitated to say yesterday—that the Corporation authorities had failed to do all they ought to have done in that matter, considering' the time that had elapsed since authority was given to borrow £20,000 for the purpose of increasing and improving the wharf accommodation. They heard about tenders being adver-, tised for, and the consequence was tint contractors came to Wellington from different parts of the colony prepared to take the work in hand ; but still nothing was done, and it was very difficult to tell from present Appearances when anything would be done. With reference to the drainage question the committee had not made any recommendation, perhaps they had acted wisely. "The subject was one of very great interest, and involved the expenditure of a large sum of money, upon which the ratepayers would have to pay the interest. Personally, he believed that a larger sum than that stated would be required, and the matter was one, therefore, which should meet with the most careful consideration. In reference to public works he said there was an opinion entertained by some members of the Government that it might not, possibly, be wise to proceed with the erection of the proposed railway wharf, and whether the money to be expended in that way could not be turned to better account by somewhat extending the reclamations and effecting communication between the railway and the present Queen’s wharf. It had been pointed out, in this view of the matter, that all the English ships load at this wharf, and all the appliances for loading were on the wharf stationary. By carrying out the idea suggested, the inconvenience and confusion of discharging and loading at different wharves would be avoided. He (Mr. Hunter) had stated that, so far as he was concerned, he was not prepared to express any opinion on the subject ; but as he understood that there was some plan prepared, he had suggested that application should be made to the Government to allow members of the Chamber to inspect the plan and confer with them on the subject, as also with the Corporation. That was the result of the interview which he and Mr. Johnston had had with the Government on the question. Speaking «f the now premises, he said he was glad to find that they had a home at last, and one in every respect convenient. He also desired to acknowledge, on behalf of the Chamber, the great liberality with which they had been treated by the proprietors of newspapers throughout the colonies. The establishment of a second line of cable across the Strait was a matter upon which he thought they all might feel gratified, and he referred to the negotiations for a second line connecting Aus-

tralia with the Mother Country, that there might be continual and uninterrupted communication between Australia and the old world. He endorsed what was contained in the report referring to the kerosene bond, and spoke of the necessity that existed for the removal of the powder magazine from its present position to one more isolated. Speaking of the interview with Mr. Young, the Canadian Commissioner, he described it as one of the most pleasing and satisfactory he had had for a long time. That gentleman was thoroughly and essentially a real colonist—a man, moreover, of large mind and vast experience. He alluded to what had taken place at that interview, and the conclusion to be drawn therefrom, viz., that New Zealand possessed great advantages over Canada, and vast resources that must make it a great aud prosperous country. In conclusion, Mr. Hunter spoke of the services which Mr. Carroll had rendered the Chamber, and acknowledged that that gentleman’s salary was inadequate, and he lelt sure that in case the position of the Chamber improved there would be no two opinions that the salary should be increased. Lastly, he said a few words about the Patent Slip, which he remarked deserved to be the subject of congratulation on an occasion like the present, as being one of the greatest undertakings in the Australasian colonies. It might not as yet have proved profitable to the shareholders of the company, but it was a credit to Wellington and to the colony of New Zealand. Having made these remarks, he would conclude by moving the adoption of the report. Mr. George seconded the motion. In doing so he stated that the Coporation were preparing for the erection of a kerosene store on a suitable site ; and he understood that the General Government had decided to erect a magazine in an isolated place.

Mr. Buchanan said there were one or two matters upon which he desired to make a few remarks. With reference to fire insurance, he thought it behoved the mercantile community of Wellington to consider seriously the great risks they were running from the want of sufficient insurance in this place. Material damage was being done to the trade of Wellington, as compared with other places, by the course of action being followed by some of the representatives of insurance companies ; consequently he thought it seriously behoved that Chamber to devise some way out of the present difficulty, either by making insurance compulsory or by the encouragement of new companies, so that by the effect of competition something like adequate insurance of property might be obtained. Another subject he desired to bring before the Chamber was a defect in the mail service regulations, pointing out that there was no necessity (whilst there was great inconvenience to the public) in the extended notice given of the departure of the mail—the time between the post closing and the steamers departing being too long considering the contiguity of the Post Office to the wharf, and he further stated that he had personally found no remedy in complaining to the Post Office authorities. Therefore he had brought the matter before the Chamber on the present occasion, in the hope of effecting some alteration. He also referred to the manner in which telegraphic messages were delivered here, stating that the delivery was characterised by great carelessness. The subject was one which frequently had caused him great annoyance, loss of time, aud probably on some occasions loss of money. He might say that his experience was not singular, and he was induced to make this representation, hoping that its effect would be to remedy an evil known to exist. In connection with this he might mention that a reduction in the tariff between this colony and Australia would lead to the transaction of a considerable amount more business in that line than at present was the case. Speaking of the proposed railway wharf, he was sorry to hear of its suggested abandonment, and he was afraid if it were abandoned that the same censure that Mr Hunter had passed upon the City Council might very fairly, and with much greater force, be applied to higher authorities. As a matter of fact, the General Government had the money, but had not spent it ; and the present movement looked like shelving the question, by saying that they had a proposal which would more effectually carry out what was wanted than the original proposal. Mr. George alluded to the irregularity occasionally noticeable to the starting of the steamers, saying that there was a want of • proper management apparently. Mr. Tolhuust suggested that the Secretary be instructed to furnish the publisher or editor of Westgarth’s paper with a correct statement of the position of the colony, so that he might correct previous misstatements. Mr. Hunter said the Government had already gone fully into the matter, having addressed the Agent-General on the subject, requesting him to have the matter put right, and furnish such returns for the future as would prevent the recurrence of mistakes. Mr. Baknatyne, referringto Mr. Buchanan’s remarks on the Telegraph Department, said he could bear testimony to having been treated with the utmost courtesy by the head of the department (Dr. Lemon) whenever he had had occasion to make complaints in consequence of unnecessary delay in the delivery of messages. Mr. Buchanan had no hesitation in endorsing what the last speaker had said. He never intended it to bo supposed that Dr. Lemon was not courteous in his bearing, but he thought the fact was that Dr. Lemon made the mistake of endeavoring to work the office too cheaply, by the employment of mere boys and inefficient persons. Mr. Hunter said a few words in reply, hoping, with regard to the railway wharf, that the Chamber would follow the course which he had indicated. The motion to adopt the report and balancesheet was then put and carried. REDUCING THE QUORUM. A motion of which Mr. E. Pearce had given notice, that the next meeting be made special, for the purpose of altering the regulation referring to the number requisite to make a quorum, was carried, and it was resolved that the number be reduced from 15 to 10. The meeting then proceeded with the ordinary business. ELECTION OF OFFICE-BEARERS. The election of office-bearers was then proceeded with. In answer to a question Mr. Hunter said if elected chairman he must decline to act, as he could not spare time to attend to the duties. Messrs. Dransfiold and F. A. Krull were elected chairman and vice-chairman of the Chamber respectively. Both gentlemen acknowledged the honor bestowed upon them. The following gentleman wore elected a committee : Messrs. W. M. Bannatyne, T. Buchanan, R. J. Duncan, J. R.George, J. B. Harcourt, G. Hunter, J. Johnston, W. W. Johnston, L. Levy, E. W. Mills, G. Roxburgh, Captain Rose, Messrs. W. W. Taylor, G. E. Tolhurst, and J. Woodward.