CHAMBER OF COMMERCE

Press, Volume XLVIII, Issue 14524, 28 November 1912, Page 5

CHAMBER OF COMMERCE

QUARTERLY MEETING,

' The qnarterly meeting of the Canterbury Chamber of Commerce was held yesterday afternoon, the president, Mr !R. Hill Fisher, presiding over a largo attendance. THE PRESIDENT'S ADDRESS. The Presidont in his address referred in detail to the different matters which have engaged the attention of the Council ana the Chamber during the past three months, and which have already been reported in our columns. Continuing Mr Hill Fisher said:—That i another bank having lately opened in the - Dominion is a point in the commercial history of the country: It might interest members to note that m 1895, when the trade of New Zealand, as expressed by its imports and exports, was £14,950,353, the six banks ] which were then doing business in the .Dominion, had a paid up capital of i £6.487,300 and reserves amounting to I £2,949,095, aggregating £9,436,395; to-day New Zealand's trade was £38,574,369, and the five banks had a paid up capital of £8,600,000 with reserves amounting,-to £7,358,676 agi gregating £15,958,676. Hβ did not mean to convey the impression that the ' whole of the increased banking capita* ■ was available, for New Zealand business ; still a careful scrutiny showed that the local banks contribute! largely to the figures, and in view of the * larger increase of the business of the , i country it was to be regretted that the • : additional banking facilities sb.ous'l hot bo afforded by the enterprise of Isew Zealand capitalists. The increasing ; tightness of the money market, W3S ! making itself manifest in various ivavs, ' still with such a good lambing seiso-J. higher prices for wool, and ■-with go. J prices ruling for our produce, oav could but feel that the clouds of depression would quickly break and pass from tho Dominion. The continued un , rest in labour circles gave cause for some concern, at the same time signs were not wanting that the councils of the thoughtful and wiser wpokl prevail. At present the tnuVof the Dominion was so hampered by the scarcity of all classes of labour that some speedy adjustment of matters is ■' imperative. Concluding. Mr Hi 1 Fishes made reference to tho lamenn-1 death of Mr Joseph Gould, who was President of the Chamber in 1886, md who'was such a prominent figure in tiie commerce of the city for many years. ; Upon receipt of the sad news the Council conveyed its condolences to Mrs Gould. AUSTRALASIAN RECIPROCITY. The president's address included the announcement that a conference of . delegates from the South Island Chambers and the Grain and Produce Association, to consider the question of Australasian reciprocity had been called for December 12th. The conference would deal only with produce, but he anticipated that other organisations would deal with other items which are subject to duty between the Commonwealth and this Dominion. Messrs Hv. Wood and A. H. Turnbull were appointed to represynt the Canterbury Chamber at the Conference. \ NEW MEMBERS. Messrs A. E. Shields and H. S Williams were elected inemDors ot the Chamber. ■,^ m ,«e» I OTHER MATTERS. ' Mr Albert Kave's report regarding the International Congress of Chambo-s of Commerce", and a discussion on rauway matters, are reported elsewhere iv th: d issue.