IMPORTANT MEETING AT SYDNEY.

Hawke's Bay Herald, Volume 13, Issue 1097, 2 November 1869, Page 1

IMPORTANT MEETING AT SYDNEY.

THE LONDO^WOOL SALES. (Abridged from the "Sydney Herald," Oot. 6.) A MEETiNa of merchants, bankers, woolgrowers, andLoSS^persons interested in the sale of wool, was held, yesterday afternoon, in the Chamber of Commerce. There were about fifty persons present, and among them were the Hon. John Hay, ivr^q™ TT, TVTnnVpfinrA T TiaV T,amTi Shepherd Smith A S'Hardy T A Dibbs, B. Molineaux, H. E. A. Allan, A. Kummerer, E. Binnie, J. Alger, G. E. Hirst, W. Glen Walker, H. Austin, T. Buckland — Panning, C. Chapmen, F. J. BWat F W Oroiier EVi kery a Morris J S Ififfi G ThoSS —Faigh, S. 'c.' Burt, A. Macdonald, - Tre beck, and —Reid. Mr. Willis was called upon to take the chair. The Chaikman having read the adverenrich the object of the meetT 8 Mobt rose to move the first resolution He thoueht hemUt beSi by stating that the only interest he had in this meeting was one in common with that portion of the community which was concerned in woolgrowing. It was a matIf °J «™«f .j*™?* f ppeared u?0 n SSold^w^t^™toSe^ StoLhStomo^TO^WiS the opinion of this meeting it is desirable that the wools of these colonies should have special warehouses for their reception in London, and that such warehouses He believed that the charges "made by the warehousemen in England were very great—that instead of the modest Is 3d per bale, which was charged upon the reception of wool here, that amount was in London magnified several times. No P^of of that could be adduced than JS^^'^^^Z in this city. It was a circular from the General Manager of the Millwall Docks, and he (Mr. Mort) would read it :— . " Believing that the wool brokers and importers tor some time past have enter- ™, and loss of time caused by the warehouses being spread over so many parts of the city, I venture to direct your attention to these docks as affording a site peculiarly suitable for the purpose. [The Milwall Docks Company were, no little what their object was so long as it suited ours.] "These docks adjoin the West India Docks, and are now within 27 minutes of tue Fenchurch street Station, whence trains start every quarter of an hour. A I?^^™ place the docks in communiktion with the North Western, Midland, Great Northern, and Great Eastern Eailways. " The amount of warehousing charges paid last year by the wool trade amounted to very nearly £200,000. Of this sum, SkWjK^ luTTllfrf 1 SloSS,^ expended in providing warehouses, and for profit. " Owing to the greater part of the warehouses being inland, the working expenses are increased largely by the items of cartage and lighterage. With the stores at . th« ™$™^J n £ \^^o the ships, tne outlay under these heads would be avoided> and a correßponding reduction effected in the working charges. " With the railway facilities the buyers also would be benefitted. Carting to the |

stations would be prevented, as the wool could be transferred direct to the railway *™c|E?, f rom the warehouses. Ac J^ ffijf%?? L^and the Erectors would be prepared to let sufficient of this land to receive all the wool imported into London on a long lease, and with covenants as to the water and railway accommodation. The docks are capable of taking vessels of the largest s^an^d have a deptu ot water unequalled « TJie rectors wouia ai go be willing that the wool trade, providing the necessary warehouses, should itself undertake the entire and exclusive management of them; should fix and receive its own charges, and occupy, in respect to the posltloll of At presenfc rafceg cons j derably less than two years'profit on the whole trade would be sufficient to provide warehouses and all the needful appliances; or the trade, if it preferred such a course, could reduce existing charges one half, and yet secure a f To these colonies it would be £80,000 or £100,000 per year—an item very considerable to his (Mr. Mort's) mind.] "The land available being ample, the show warehouses could adjoin one another, and be on one floor only. Abundance of light would thus be gained and the fatigue of ascendmg a number of steps avoided " &oilT^l'S'x^ freshment roomaj and oth e r convelliences. "I shall be very happy to wait upon you at any time to discuss the question, or to supply any further information." Tbsmrcular was signed by Mij_G. E Birt, the general manager of the MillwaU ggj terestef source, from a dock company anxious to get vessels into their docks, and so secure the charges upon those vessels, it was not the less pertinent as regarded our interests. We did not care so long as we got the charges upon our wool reducea. Mr. A. Kummeeee was happy to second w reSolutlon ' .f\co^ °^ «* *hf last year we paid about tenpence per bale more than we did before, although the price of wool depreciated. The fall in the price of wool made this sudden increase in the charges come very heavy. Some of the warehouses were inconvenient. The Inotbe Ze^lX Mr. Eeed said thJ V evsoL who referred to their delivery weights would find them very different to the landing weights. There was frequently a discrepancy of seven or ten pounds per bale. The woolS^B ifon WS fe 5S nt resolution, wnicii, ne said, did not go quite so far as many wished, but simply confined us to making inquiries upon Ms subjed. The wool sSies^ ere man F aged by a C0 J mmi ttee of gentlemen interested in the wool trade, and there was no article of e^rtz:z oeiore tnem ana it was oniy ngnc mac we should put them m motion, so that they might do something to save money. The resolution to which the gentlemen forming the committee had arrived, was to have five or six sales in the year instead of J^J^ d^f , ed Xto mo^£ second resolution whic£ was as follows:- -" That afeeling pervades the wool-growers and others interested in wool that their interests would be furthered by more fresales in London; and this meeting is of opinion that the matter should be inquired mto, and, if deemed desirable upon vals. Mr. J. L. Montefiore rose to second the resolution with the more pleasure because it was suggested the matter should pc inOTreJ mto > as J he F c must be a feelmg ot doubt as to whether it would be to would gain anything by altering the present system of quarterly sales. Mr. Binnie drew attention to the injury which the woolgrowers suffered from their wool having to remain so long in London without being sold. If a cargo ot J^^J^SA^^ houses for three months before it could be sold. That was a grievance. He did not know whether the system was right or wrong, but it seemed to him injurious. Mr. Walker moved,--'; That, for the purpose of securing the objects named in t^regomg regions tteM lowing &^%JS^*hrt^M be adjourned untH this day month, to meet then for the reception of such report:—Mr. T. S. Mort, Mr. J. B. Watt, Mr. J. L. Montefiore, the Hon. John Hay, MM, fto Hon Alexander Camp. $g*w\ G-. Walker, Mr. Charles Smith, Mr. A. Kummerer, and Mr. H. Austin." Dr. Eedd seconded the resolution, and ifc was agreed to. The meeting then separated. ~«*™-™.