COMMERCIAL.

Lyttelton Times, Volume XXI, Issue 1193, 6 February 1864, Page 4

COMMERCIAL.

CHAMBER OF COMMERCE. The usual monthly meeting of the gentlemen forming this association took place on Thursday last, at 2 p.m., in the rooms attached to the Town Hall, formerly tenanted by the Mechanics' Institute, and now occupied by them as the Cliristchurch Chamber of Commerce. The following were present:—Messrs. Aynsley, Montgomery, Miles, Kassall, Day, Reeves, McPherson, and Ritchie. Mr. Aynsley occupied the chair. The minutes of the previous meeting having been read and confirmed. The Secretary (Mr. Louisson) read the following letter from the Provincial Secretary:— " Sir,—ln reply to your letter dated the 10th ult., calling the attention of the Government to the want of an efficient water-police force at Lyttelton, I have the honor to state that there is no sum on the estimates to meet such an expenditure, but that the Government will take the subject into consideration before framing the estimates next year. "I have, &c., " W. Rollestox, " Provincial Secretary. " The Secretary of the " Chamber of Commerce." Mr. Montgomery proposed that the scale of charges adopted by the Chamber should be re-con-sidered. After some discussion, it was resolved that a subcommittee consisting of Messrs. Hassall, Montgomery, McPherson, Sprot, and Ollivier, should be appointed to take into consideration the present rate of charges, and to report to a general meeting what changes they would recommend to be effected in it. Mr. Ritchie, previous to moving that an addition be made to the papers, &c., filed at the Lyttelton Chamber, would like to know the financial position of the Chamber. Mr. Day could state that there was a nominal balance of £296 18s. There were, however, heavy expenses to be met, which would reduce that sum to about £100. Mr. Ritchie asked what the expenses of the Lyttelton Chambers were? Mr. Louisson replied that, including papers, attendance, &c, the expenses would probably be about £65. Mr. Ritchie suggested that unless a proper supply of papers could be provided for the Lyttelton Chamber, the best plan would be to relinquish the possession of the room. Very few persons attended it, and he thought that it was a useless expense to keep it up. Mr. Louisson remarked that the room in Lyttelton was engaged until August next, at the expiration of which time it could be given up. Mr. Reeves said that he understood that the sum of £65 included the supply of papers. The subject then dropped. Mr. Montgomery thought that the Chamber ought to be in possession of some facts relative to the statistics of New Zealand. He should therefore move: " That it is highly desirable to have correct annual returns of live stock of all kinds in the province, also of the number of acres of land sold, how many farmed and under crop, distinguishing the different kinds of each, under grass, English and foreign, also the number of houses, wood, stone, &c., and that the Secretary be requested to communicate with the Provincial Secretary on the subject, enclosing a copy of the resolution." Mr. Ritchie having briefly seconded the resolution, it was carried unanimously. The Secretary was instructed to inform Mr. Bonnington that the Chamber declined for the present his proposal to let the members occupy the room attached to his premises at a yearly rental of £110 per annum. The quarterly meeting was appointed to be held on Thursday, the 25th instant, at 2 o'clock p.m. The meeting then separated. A meeting of the creditors of Mr. W. H. Mein was held yesterday at Messrs. Deßourbel & Co.'s rooms. The balance-sheet shewed liabilities amounting to £27,000; assets, £24,000. After some discussion it was agreed that the estate should be assigned to Messrs. H. Lance and J. C. Aikman, and that an adjourned meeting of creditors should be held on Thursday next at the same place. MELBOURNE. In the markets, the outgoing mail has taken precedence in all matters of business. The demand for drafts on England is reported to be very light ; sixty day's exchange has been done at half per cent, premium, par, quarter per cent, discount, and half per cent, discount. The banks have resolved to raise the rates of-discount one per cent. With the high rates of interest paid on deposits for time, and the opportunity afforded by the action of the Bank of England, this is scarcely to be wondered at. While the banks are extending their operations by taking in fixed deposits for six months at from five to six per cent, per annum, they must perforce demand rates which will leave a margin of profit on the sums placed in their hands to be used.

There have been some transactions in sugar, por-

tions of three cargoes having been offered at auction, and been bought at full rates. The following extract from a letter just received from Messrs R. Iversel and Co., of Java, confirms the reports of the extraordinary character of the weather in the Indian Archipelago, during the south-east monsoon:—"We have to report of our produce market to day as follows : —Sugar.—In consequence of the rainy weather, unusual for this season, growers are not willing to close contracts on delivery, particularly as it is now certain that our crops will be very small. The last advices from Europe, showing an advance of 1 to 1J rupees per picul, brought an active demand for sugars into our market, and almost all disposable have been sold. By the heavy rains the next year's crop of coffee has also suffered much, the trees being then in full flower." Malt, notwithstanding the amount of advised shipments, is in fair inquiry, the high prices ruling for sugar inducing brewers to purchase malt. The sale of a bin of very fine quality is reported at 9s. 7d., and a lesser parcel has changed hands at 9s. 6d. per bushel, duty paid.— Arqus, Jan. 26. SYDNEY. Corn, Wheat, and Barley are said to have advanced considerably in price. The several produce auctioneers held their weekly sales of wool and sheepskins to-day at Lyons-build-ings. The attendance was not quite so large as we have noticed lately, and the bidding generally was slack. The news that the English mail was signalled had the effect of checking purchases for the present, consequently more than half the quantity of wool offered was withdrawn. The prices obtained for the lots sold ruled about the same as last week. The following is the result of the sales : — Messrs. Mort and Co. catalogued 534 bales wool, and sold 145. The principal lots were 32 bales fleece, J. Sloan, 19d; 18 bales, G. L., 19£ d; 16 bales scoured, I. Field, 2lid. Prices ranged thus: Fleece, 17fd to 19d; scoured, 19£ d to 2l£d; grease, 6£d to 8d; locks, 7|d to lid. Sheepskins were firm, and full prices were realised. About 3000 were sold at from 4fd to B£d per lb.—Sydney Morning Herald, Jan. 22.

Remarks.—Jan. 30th, very pleasant morning, cool blustery day. 31st, dull hazy day, close oppressive night, very dark and threatening. Feb. Ist, bright cloudless day, very boisterous nor-wester, a few drops of ram at daybreak, lovely calm night. 2nd, very pleasant day; night cold and hazy. 3rd, morning dull and threatening; very hot boisterous nor-wester; beautiful calm warm night. 4th, blight warm, day. R. L. HOLMES, Provincial Meteorologist.

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