OAMARU AGRICULTURAL EXPORT COMPANY.

Otago Witness, Issue 832, 8 November 1867, Page 14

OAMARU AGRICULTURAL EXPORT COMPANY.

Two meetings have been held at Oamaru, with the object of establishing an Agricultural Export Company. Atthe last meeting, which was held on Saturday, the report of a Committee, which had been appointed at the previous meeting, was brought up, and resolutions favorable to the establishment of the Company were agreed to. Wo quote from the Oamaru Times some of the statements made at the meeting :—: —

Mr Maude regretted that some of the members of the Committee had been unable to attend the meetings, but the Committee had gone into the question with the utmost pains, and in reading their recommendations he wouldstateat the outset that they had seen reason to advise the abandonment of the kiln-drying part of the project altogether, as they found on investigation that the process would not only be very expensive, but would damage the wheat. The Committee had resolved, on the motion of Mr Miller, seconded by Mr Ashcroft, to recommend to this meeting, "That an Agricultural Export Company be formed for the Oaiuaru District, with a capital of L 15,000, in LlO shares — 10s to be paid on application, LI in one month, and LI in two months." By a separate resolution, the followingclausehad been added : "on condition that the farmers and landowners take up shares to at least half the amount of the capital ; all applications to be sent in on or before the 15th December. One month's notice to be given of any fun her call upon the shares." The latter clauses had been tacked on by the merchants. He thought, perhaps, the fairest way in estimating the price they might expect to vet for their wheat in England, was to take its average price in the Home market over a period of, say ten years, although he thought it would be safe to take a somewhat higher average for New Zealand wheat. It was intended that the Company, instead of kiln-drying the wheat, should make advances to the farmer, so as to enable him to keep it in stack until dry enough for exportation ; the wheat would then reach the market in better condition than if kilndried, and it would cost the Company less, as the cost of kiln-drying would exceed that of the interest upon the money so advanced. The Company would be able to advance the farmer 3s per bushel upon his wheat. It might be asked why the Committee proposed so large a capital as L 15,000, seeing that it was only intended to call up a fourth of that sum. He would explain this. The Company would be able to do with a less sum in hand, provided they had a large uncalled-up balance on their shares, as it would enable them to finance with the Banks. The Company might be cheaply worked ; the only necessary preliminary outlay would be for a building, which was estimated to cost L 750. He proposed to obtain a municipal section for a site.

Mr Ashcrof t gave some statistics from a letter which he had received from an English correspondent. The writer, who was a large snd experienced miller, recommended drying by kiln. He had supplied reliable data as to the price of wheat. A list was given of the prices ruling over a period of twenty yars, and it appeared thereby that the lowest price during that period had been 43 9£d, and the highest 14s per bushel. The average price during the last ten years had been 6s 2-id, and during the previous ten years, Gs lid.

Mr Maude, in answer to a question, stated that the Committee had, in their calculations, estimated the cost of sending the wheat Home, everything included, at 2s 6d per bushel. They were, however, sure that that was an overestimate, but they thought it best to err on the safe side.

Mr M. R Miller said that an average of Gs 6d in England would thus produce 4s to the grower. It was obviously, therefore, the interest of the farmers to support the Company. It could not be expec+ed that the scheme would be endorsed by the merchants, which w.is really taking the bread out of their own mouths, unless the farmers supported it ; but if the farmers supported it it would then become the interest of the merchants to do so. For business men and merchants alone to support the Company would be simply cutting their own throats.

The farmers at least should take up half the number of, shares. • He thought 3s a busheL was an- ample advance. ' Some thing had been said about sending wheat to the other Colonies, but" he thought the Company should turn their attenti6n chiefly to the English market. 1 They might hear of high prices in Sydney or elsewhere, and on sending their wheat there would very likely find the market glutted. The Home market did not vary much.

Mr M. R. Miller said that kiln-drying, it had been ascertained, damaged the grain, but they were adopting a plan in Canterbury, of which he regretted he could not give more detailed information, which did not damage the grain ; it was a method of drying by hot blasts. With regard to the advances made by the Company, they would, of course be guided by the English markets, and take care to be safe.

Mr Gifford said that, taking the yield at 40 bushels ?m acre, which was a hiijh one, and to obtain which would require the use of manures, 4s per bushel would not pay the farmer.

Mr M. R. Miller thought the question was to get the farmer the highest price possible for his grain.

Mr Maude said that, whether it would pay the farmer to manure his lands for the production of wheat was another question. The question was to find the farmer the best market for the grain grown by him while breaking up his land, and so to enable him to lay it down in grass cheaply.

The Chairman (Mr Gibbs) said that although wheat would be the staple export of the Company, they woiild also, he presumed, if a good market offered, export barley and oats. Barley was sent from Canterbury to the North Island at a good profit.

Captain Godfrey, on being asked for his opinion, said vessels could be got to take wheat at 60s- per ton. Wheat was not taken as dead weight. Sir Bee said wheat was taken as dead weight from America,

On the motion of Mr Ashcroft, seconded by Mr Gifford, it wa3 resolved that Mr Maude be appointed Secretary pro tern. ; and the following gentlemen were appointed as provisional directors : — The Hon. H. J. Miller, Captain Godfrey, Messrs Aitcheson, Bee, Black, Ashcroft, G-ibbs, Honour, France, M. 11. Miller, H. A. Julius, Harper.

The Pacific Mail Cvivsk. — Th* P.M.S.S. Oo.'s steamer China, the second or the licet now in course of construct on for set vice m the line between .*an Francisco, China, and Japan, arrived at Panama, from New York, on the 30th of August. The China is described as in all respects one of the finest steamers that has ever sailed from New York. Her hull is from the yard of Mr If. Webb, and of the following dimensions : — Length between perpendiculars 36< >f t ; do over all, 370 ft; breadth of beam, 46t't 9in; moulded do, including outer planking, 40lt lOin ; depth of hold, 31ft Gin. She has three complete decks and an orlop deck. Sue lus also four water-tight bulkheads forward and aft. Her fl->or3 are of white oak, 15 inches by IS inches, ami 14 inches at the head, soiid and coaged. She is iron-strapped on the inside of the frame and outside of the inner course of planking is double planked from her keels to the wales and is edgewise bolted in the most thorough manner ; her deck planks are 4 inches thick ; she is bark-rigged, having fore and main sails, and top sails and top gallant sads. Her machinery is from the Novelty Iron Works. She has a steam engine, 105- inch cylinder, and 12 feet stroke, is 1500 nominal horse power, with Allen's cut off, surface condenser ; four tubular boilers and a horizontal tubes, heated by twenty-four furnacos. She is supplied with an independent circulating pu up, driven by two mvv rted engines o f 18-inch cylinder and 18inch stroke ; an Andrew's centrifugal pump and two 15-inch suction valves to take the water out of the ship when 1-aking, besides two 10-inch bilge pumps driven by the main engine, and one 12-iuch injection. She has three No. 7 donkey pumps, with two independent boilers ; these pumps can be \ised for pumping out the ship or in case of fire, and in the latter case she can throw twenty-four streams of water at once if necessary. In addition to this she has steam pipes to put out fire in every part of the lower hold. The boilers are entirely cased in iron. She is ventilated forward, the air passing through the entire ship, discharging itself .aft through the pipes. She has accommodation for 500 first and second class, and 800 steerage passengers ; is provided with 1500 life-preservers, 12 metallic life-boats, and 2 life-rafts. Her capacity is 3886 tons government measureraent, or 5000 tons carpenter's measurement. On the main deck are sheep and poultry pens, and accommodation for fifty head of cattle ; pantries, kitchens, storerooms, and officers' mess-rooms and rooms for the butcher ana barber.

Hearisg some fears expressed that the appointment of a bishop for Northumberland was not likely to take place, an old lady said, " Why, if we get a bishop in Newcastle won't it cause a great deal more money to be spent in town ? And what harm can he do?"