CHAMBER OF COMMERCE.

Manawatu Standard, Volume XLI, Issue 8842, 6 April 1909, Page 6

CHAMBER OF COMMERCE.

A meeting of the Council of the Chamber of Commerce was held last evening in the Mayor's Room. Present: Messrs J. M. Johnston (in the chair), G- A." Preece, J. T. Lang, H. F. Gibbons, A. M. Eliott, G. W. Harden, and G. Hirsch (secretary). Apologies for absence were received from Messrs J. A, Nash, H. Haydon, A. Seifert, and M. Cohen.

CORRESPONDENCE. From E. Johnson, Secretary of the Decimal Association of London enclosing a decimeter rule (called Iby i Lord Kelvin the key to + ,he in system). The writer stated that he had. found the rule so useful that ne would like to present one to -ill members of Chambers _of Commerce throughout the Empire.—The offer was accepted with thanks, and it was decided to send a list of members of the local Chamber and aisc the schoolmasters. From G. J. Scott, D.0.A., vlio had been asked to by the Chamber to make suggestions for altering and improving the Bankruptcy Act, stating that he had been asked by tie Justice Department to report *«'d instance any improvements he an Id suggest on the Bankruptcy Act, and suggesting that the Chamoer report independently on the commeroi.il «'de of the" question.—Received. From the Napier Chamber of Commerce forwarding two resolutions to come before the Wellington Conference, and asking that they be placed before the Palmerston delegates. The resolutions were as fol- ' lows: —That, whereas the mortgage tax has been found to be the cause of the withdrawal of a great deal of capital from New Zealand and a restriction on the influx of capital for ! investment and create financial stringency, the attention of the Government be called to the position, and it is'suggested that the tax be abolished. Further, in-lieu thereof, all income derived from the investment of capital on mortgages be made subject to the income tax. That the graduated tax on capital invested in j shares of public companies be levied on the paid-up value' of such shares only, instead of as at present on the proportion of such shares to the total value of land owned by public [ companies irrespective of their liabilities.

Mr Gibbons said he was in favour of the abolition- of the mortgage tax. He mentioned the hardship of London investors, who not only paid income tax at Home, but also the mortgage .tax. It was . decided to instruct delegates to the Wellington Conference to use their own discretion in voting.

The President reported on the steps taken to keep Detective Quirke in Palmerston, and the success attending his efforts. —The meeting endorsed the President's action.

Mr Hirsch brought up the matter of inequalities in the rates of exchange charged on cheques by banks, and suggested 'that a paper be read at the Wellington Conference on the subject.—lt was pointed out that the matter had been previously discussed at conferences, and it was decided that no action be taken at present.

The President brought up the matter nf the gift of a Dreadnought by the > Government, and thought ~ the Chamber should give its support to Sir Joseph's action. He therefore moved : —That the Council of the Palmerston North Chamber of Cornmere® entirely approve of the action taken' by Sir Joseph Ward and his Cabinet in proposing to present the Mother Country with a 'Dreadnought from the people of this. Dominion, and are entirely in accord with the desire of the Government to in every way strengthen the unity of the Empire. , The motion was carried.

Mr A. Seifert wrote accepting the Chamber's suggestion to write a paper on the "Effects'of Legislation" for the Wellington Conference. —The President stated that Mr Seifert had been unwell lately, but he hoped to b a , sufficiently recovered to prepare the paper.