MEETINGS.
AUCKLAND CHAMBER OF COMMERCK Tub annual meeting of the Auckland Chamber of Commerce was held on July 15. There were present: Messrs. G. Aickin (chairman), Ross, Levy, C. C. McMillan, J. P. Larkiu3, J. Lamb, D. B. McDonald, J. Reid, Atkin, Battley, 11. Campbell, 11. Harrop, A. H. Nathan, G. Harper, F. Ireland, Taite, G. W. Binney, D. McLeod, A. T. Clark (Walker Gum Co.), Henton (Kempthorne, Prosser, and Co.), L. Kurenfried, J. Winks, A. Kidd, Gabolenski, E. Bell, J. M. Lennox, T. Morrin, G. W. Owen, W. R. Waddel (Mayor of Auckland), aud Dr. Campbell. The secretary read the minutes of last quarterly meeting, which were read and continued. ANNUAL KKPORT. The annual report, which was printed and in the hands of the members, was accepted as read. It was a lengthy paper, and we give the following quotations of its leading features:— San- Francisco Mail Service.—lt will be In the recollection of members that during the oirly part of last session a strong oi position was manifested bv a section of the llous) to the continuance of the .Sad Francisco service, on the expiration of the contract (November, 1885). Your committee, feeling strongly that a discontinuance of the service would be most detrimental to the interests of the colony, called a special meeting of the members. The result was a lar.e and influential meeting, when the following resolution, proposed by J. O. Firth, Esq., was unanimously adopted: " That as tho San Francisco route has proved itself to be the bast mail service for tile colony of New Zealand, this Chamber strongly urges upon tho Government the importance of running arrangements for its continuance at the ciuiry of the present contract; and that the stoppage of this service would bo a retrograde stop, highly injurious to the commercial interests of the country, and would close the only existing line of communication to the vast Continent of North America." Taking all circumstances into consideration, it must be a sourco ol gratification to the colony generally that the House resolved on maintaining the continuation of this service, and that now—after considerable negotiations between our Government and the G .vernment of New South Wales, the Union Steamship Company of New Zealand, and the Oceanic Company—a reliable service has been arranged, the Union Steamship Company being the principals. It is well to mention, in connection with this service, that a subsidy of £100:) has been granted by the United Stats ; but, considering the large expansion of trade that ha; taken place during the last ten years between Australasia and the States, the amount of the subsidy must be regarded a3 quite disproportionate. It is also a further source of satisfaction that by a recent mod.ll ation of the contract, which has been ratified by the New South Wales Parliament, transhipment at Honolulu will be avoided. The through service, your committee are advised by Government, is being performed for an additional subsidy of £7000 a year, this colony paving two-thirds and New South Wales one-third thereof. Noiith Island Trunk Railway Loan.— is one of the subjects of supreme importance to the mercantile and general community, not only of the •-oitli Island, but of the whole colony, considering that the matter involves the construction of the Main Trunk Line of the North I-land, connecting Auckland with Wellingtonthe two extreme commercial centres of the North. In the latter part of October last It was reported that the Government intended to divert the North Island Trunk Railway million loan to other purposes than that for which it was originally voted. The Government wero at nnco communicated with on th» subject, and the reply received not being of an assuring character, your committee felt it oiiii.'atory upon them to summon a special meeting of the members to consider the matter ; and it was also decided to invite the Auckland members of the House of Representatives to be present. Tho invitation was largely responded to. and, after hearing the statements of tho Auckland members of tho Houseth it the raising the loan for general purposes was unnecessary as well as unjustifiable, seeing that, fr ra statements submitted to the House tiler > wore sufficient funds to carry out the works authorised by Parliament until the House met—resolutions were unanimously carried, condemnatory of the proposed action of the Government to float the loan for the avowed object of diverting it to other works than those for wh ell it was originally voted. The result of this agitation was that th') Government refrained from trenching upon the loan in any way for general purposes. Cable Kates Betwkkn New Zealand and Australia.This was one of the subjects partially dealt with by th« outgoing committee, and which has since been warmly taken op. Several communications have been ad iressod to the Government, also to the Eastern Kxtonsion and China Telegraph Company, and varions Chambers of Commerce in this and the other colonies, strongly urging that a sensible redaction of iates had now become a necessity. The whole question was considered by Parliament during last session, when it was decided to grant a subsidy of £5000 for the cable service, to be continued for five years, the rate for ordinary messages to be 6d por word, and Press messages not to exceed 3J a word. The Cable Company having refused to accept the term- decided upon by the House, the PostmasterGeneral cabled the Agent-General to ascertain the cost of making and laying a new cable f.om the principal makois. The question thus still remains unsettled, and vour committee are informed by Government that negotiations are still proceeding about the rates, which, it is hoped, will result in their being reduced. Hills of Ladi.no Rkporm.—This question having been further considered by your committee, '.t was decided—ln view of the subject b ing still under the consideration of the London Chamber of Commerce — to ask Mr. Matthew Clark to represent this Chamber at any conference or representative meeting that might bo convened by the London Chamber to consider this question. Trade with South Sea Islands.—Your committee having received aud considered the report furnished by tho Chamber's delegate, Mr. .1 L. Kelly, on the possibilities of extending tho trade between these islands and New Zealand, caused the same to be printed in p<mphlet form and circulated amongit the members. At tho same Mine it was decided to urgo upon the special consideration of the Chamber the recommendations made by the delegate to secure this end. Tblegkafh Shipping.—This Chamber having been Invited to co-operate in influencing the Government to make arrangements at tho Bluff, I'orc Chalmers, Lyttolton, Wellington, Nelson, Napier, New Plymonth. Onehunga, and Auckland, to have tho hours of arrival and departure of all ocean-going ships and steamers telegraphed twice a day to the various Clumbers of Commerce, or the Post Oflico autharities at Auckland, Wellington, Cliristchurch, and liunedin, your committee cordially assented. The Government were addressed upon the subject, but objected on the ground that the yearly cost would be too heavy. Your committee, however, being of opinion that the present shipping report should be made more complete and useful, an t that the expense involved in supplying this additional and necessary shipping Intelligence could not bs very material, again urged the matier upon the Government 'Ihey are now glad to report that the Government have approved of their request, and the additional necesiiry shipping Intelligence is now posted ou the telegraph shipping notice hoard in the usual way for public information. Trade with Bbazil.—ln March last year, at the Instigation of Mr. iteld, the then president, a communication was addressed to the Chamber of Commerce at Rio de Janeiro, on the subject of promoting commercial relations between Brazil and Auaklaud. No reply having been recoircd, a letter was sent to the British Consul at Rio de Janeiro, asking f r the desired information, with the result that a very valuable and exhaustive report upon the trario of Brazil has been furnished by Mr. Consul liicketts.and which your committee recommeu I being printed along with the annual report. 11 is a fact deserving of serious attention that, while the other ports of New Zealand have traded with Kio de Janeiro to the extent of £14,000 Auckland has contributed only to the amount of £350. Poblio Works and Railways.— matters have specially of late engaged the earnest attention of your committee. The result was a report drawn
up by your committee recommending for the consideration of Government tho following lines of railway, to be proceeded with simultaneously, that la meaning thereby that a fair proportion of each line in payable sections should bo constructed annually, and that the accessary funds should be allotted and expended annually, until the whole extent of th"se lines have been completed within a period of say, live years 1. Tho extension of the Main Trunk line from llolensville northward to the Bay of Islands, 2. Branch line from Main Trunk line to New Plymouth via Stratford. 3. Branch line from Main Trunk lino eastward to Napier. The report was submitted to a special meeting of members of the Chamber, when tho following resolutions were passed —1. " That tho letter to the Minister of Public Works be adopted, aud a copy be forwarded to each of the Northern members, with the request that a caucus be called for its consideration and adoption ; and further, that a copy be forwarded to each Chamber of commerce In the colony, and to couniy councils aud road boards in the province of Auckland, with a request that they should co-operate." 2. " That the attention of Northern members be called to the fact that nothing definite was stated by tho Colonial Treasurer as to the raising of tho North Island Trunk Railway Loan, and roquoßtlng them to bring the mattor before the House without delay." Since the foregoing was communicated to the Northern members the Public Works Statement has been issued, and your committee regret to say that, in their opinion, adoquate provision has not been made for that extension of the railway system in the North which is so essential to its requirements. Your committee, th« Chamber, and the people of the Norih generally are under a deep obligation to Mr. E. Mltchelsou for tho very valuable information that he supplied to the Chamber on this important question, and which deserves their warmest thanks. Harbour Facilities. —Tho serious inconvenience and vexatious delays, risks, and expenses cansed to tho commercial community, as woll as shipowners, by the present inadequate wharfage arrangements for receiving and delivering car<o, has engaged the serious attention of your committee. As thoy were of opinion that something should he done to meet the immediate requirements of this port, they suggested that the end coula best bo attained and at a compatatlvelt small cost, by—l. The erection of a lar;o queen's warehouse ou reclamation laud adjoining railway-station in Quay-street. 2. By running double lines of rails on wharves and tees into the said Queen's > warehouse all cargo could be received from ship's slings into trucks and run up without any delay into the warehouse, there to be sorted and classified. The Harbour Board have replied, forwarding the following resolution :— '■ That the Board does not propose to make any reservo at Quay-stroet«for shod purposes, as the scheme recently adopted by the Board, and submitted in schedule of now Loan Bill, makes ample provision for shod accommodation upon tho wharves, which, in tho opinion of the Board, is a scheme more suitable to tho requirements of the port than the one sugges.ed by the Chamber of Commerce," Cuvisn. Island Lighthouse.—No further measures having been taken fur the erection of a lighthouse on litis island, provision for which has been made In the Public Works Estimates for last year, your committee asked Mr. Peacock, M.11.U., to bring the matter before the Government, and thoy now io»rn that, shortly after the winter months, the erection of thonecos3ary bulldli gs will be proceeded with, so that within a moderate period a lighthouse will bo available, Statistics.The returns of the foreign trade of the provincial district of Auckland, ending 31st March last, as disclosed in tha appended tables, are not unsatisfactory, talcing into consideration the material decline in prices of all kinos of agricultural, pastoral, and other products in ihe world's markets. Tho exports amounted to £1.3-7,705, showing an Increase of £202 635. The imports, 011 tho other hand, are valued at £1,814.413, showing a decrease Of £185,852. The greator portion of the export trade was distributed as lollows: —United Kingdom. £418,730; New South Wales, £143,039 ; Victoria, £79,072; Tasmania, £5735 ; I'acitlc Islands, £98,011; United States, £4^l 607. Railway Returns.— traffic has, on the whole, considerably increased. In goods traffic the increase has been nearly 3ii,t-00 tons; the bulk of this increase, 26,000 tons, being duo to coal and othar minerals, and general merchandise. Live stock traffic also shows a considerable increase. In passenger trifile it is a noteworthy remark that, whilst the number of second-class passengers shows considerable increase, the number of first-class has, as compared with last year, decreased. Agricultural statistics.—The returns of all the counties for 1 be year are not yot available, but from those collected by the Superintendent Collector (Mr. , John King) it Is satisfactory to know that there are evidences of progress everywhere. it is also , satisfactory to learn from the annual sheop returns j that Auckland shows an increase of 64,493, which compares very favourably with other provincos. When the completed returns are received, a tabulated statement will bo drawn up The balance-sheet showed :—Receipts : Balance in bank, £70 3s 4il; cash iu hand, £219 a 2d ; subscriptions, £205 17s : total, £273 19s (id. Expenditure : Printing, advertising, and stationery, £G9 6s 9d ; postage, telegrams, and miscellaneous, £54 lis; subscriptions to newspapers, books, &c., £-3 63 tid ; secretary's salary, £50; rent, £33 3s lid; balance in bank, £43 9s 9tl ; cash in band, £5 Is 7d : total, £217 19s fid. THE CHAIRMAN'S ADDRESS. The Chairman (Mr. Graves Aickin), in moving the adoption of the report and balance - sheet, said : — In addressing the members of the Auckland Chamber of Commerce at the termination of my year of office, I shall endeavour to bring within the limits of this paper such matters as are pertinent to the moment, and much more which may be regarded as having a practical bearing on the future of Auckland's trade and commerce. I will also briefly refer to questions affecting the development of those natural resources which we possess bo largely within ourselves. This Chamber has, during the past year, been actively engaged in watching all questions as they arose that affected your interests; and I am happy to say that its influence has been ] felt, aud beneficially exercised on many J occasions. When it was proposed last session to inorease an already overburdened tariff by the imposition of further duties, this Chamber was the first to offer an opposition, which was responded to throughout the country, and finally had the effect of causing the withdrawal of the obnoxious measure. Attention was also directed to an attempt on the part of the Government to divert the 1 main trunk million loan to other purposes : this had the effect of arousing so much public indignation that such explanations ensued as led to the adoption of a different method of finance. The course of events have demonstrated that Guilds of Commerce throughout the world are of immense service as vigilant observers s»nd protectors of trade interests. In New Zealand, however, it still romains to make Chambers of Commerce more influential than they have been in the past. When action has been needed upon stirring questions of the day affecting the colony, the lack of cordial unity was felt. Had there been an association composed of the Chambers of the colony, the iiifluence exerted would have been powerful and unmistakable. It is not too late now, however, to attempt reorganisation. Although the programme arranged in ISB4 as to an association of Chambers has fallen through, we may still become a union. and associate ourselves upon lines much simpler and more permanent. I propose that the Chambers of the colony should be associated for the purpose of taking united action upon questions in which all are more or less interested, as affecting general trade and commorce. I suggest that one Chamber should be elected to hold the chief executive position, and carry out the decisions of tho majority ; that the office be held for two years only, and the order of rotation so arranged as to avoid awakening interprovincial jealousy ; during this period the head Executive Chamber to perform all the functions of the united Chambers in accordance with regulations approved of by the whole. I shall, without further preface, refer to a question of all-absorbing interest: I mean the DEPRESSION IN TRADE. It was only towards the latter half of the past year that Auckland felt the effect of that stagnation in trade which was common to commerce throughout the civilised world. I shall not occupy your time by attempting to elucidate the causes that contributed to simultaneous and universal reductions in values. Suffice it to say that these have been variously attributed to the appreciation of gold, monometallism, and over-production, or perhaps the contraction of the power to purchase. None of these alleged causes satisfactorily account for the all • prevailing dulness experienced in trade. This colony's position in the crisis has been exceptionally severe, Karely or never have her chief products, wool and grain, been depressed in the home markets at the same period. If the season had been poor for wool, it was reckoned that the price for wheat would compensate, and vice versa, so that the equilibrium of our export trade was in a great measure maintained, But in the gloomy years of 1883, ISS4, and 1885 both of these material sources of wealth were at such a low ebb in the world's market that it may well be termed unprecedented. Prices for wheat reached a lower point last year than has been known for a century, and wool has not been so low since 1848. It is a mistake to suppose the depressions affecting the pastoral and wheat-growing districts of Canterbury, Otago, and Hawke'e Bay do not affect Auckland, because her settled districts produce wool and grain in lesser quantities. Auckland has had to bear her own burdens as regards the lessened values of wool and grain, and been sensible to a considerable extent of diminished demands for the products of her numerous industries. A remarkable feature in the growth of our city is the fact that suburban and city property maintained their increased values up to a recent period, notwithstanding the depression existing in the South and the dulness of commerce experienced here. That may to a large extent be accounted for by the inorease of the population, as shown by the recent census, connected with the fact that, prior to the late advance in the value of property, land in the neighbourhood of Auckland had been below the normal
value as judged by prices ruling for suburban lands in other New Zealand cities. When the astonishing result of the census published in last May revealed the fact that the population of Auckland and suburbs, in the brief period of five years, increased from 37,393 to the important total of 60,616, it justifies the rise in value, and shows that the enormous amount of house-building was the outcome of a legitimate demand. It may be further assumed that growing faith in the future of Auckland as a commercial centre, together with the picturesque beauty of her surroundings, and the charm of the climate, has rendered this place specially desirable as a home residence for retired men of means. I now turn with pleasure to the outlook which betokens a better STATE OF TRADE. The gloomy, overshadowing clouds that hung around our horizon so long have at length broken, and the dawn of a general revival in the condition of trade throughout all branches seems to be near at hand. The latest advices as to the advance in the price of wool indicate a very firm market with increasing competition, and there are good prospects of those values being maintained. At the present juncture it will be satisfactory to note how far New Zealand is affected by the recent rise. Our total clip aggregates about 245,000 bales from 14.546,801 sheep, of which 7,560,495 are merinos and 6,985,306 crossbreds. A portion of this clip shipped by direct steamers early in the season was sold at the first two series of the present year when prices were at their lowest, but this would probably not exceed 20 per cent, of the entire clip. At the present July sales a large proportion will be catalogued, and the remainder will be submitted at the last two series of the year in September and November. The improvement in prices at the present series as compared with the March sales is estimated approximately as follows :—Merino scoured, advanced 4d per lb; Merino greasy, 2d to 2£l per lb (or about lid to Is per sheep); half-bred and fine cross-bred greasy, advanced l£d per lb, or about 91 per sheep ; coarse crossbred greasy, advanced Id, or about 7d per sheep. The previous depression in prices had been principally in merino wools, crossbred not having suffered to the same extent. A careful estimate of the enhanced value of the New Zealand clip now at home, after allowing for proceeds at the previous series (say 20 per cent.), gives £460,000. This n suit may be taken as reliable, being carefully reckoned on the advance in the respective descriptions I have mentioned. Although wheat has not as yet shown any active demand in home markets, there are well * grounded reasons for supposing that an advance in this important export is not far distant. The reserves throughout the world have sensibly diminished. Stocks in England and the United States are much less than last year, and Italy must import for her home consumption. Official reports from India state that the area sown with wheat this year is less by 1,783,185 acres. American returns also show that the area of winter wheat is 15 per cent, below that of last year. Therefore it may be confidently expected that, with diminished reserves and lessened production throughout large grain-growing countries, better prices will prevail. The president of the Chriatchurch Chamber, an excellent authority, predicts in his last quarterly address that before " the years ISB6 and 1887 end" we shall see a decided rise in the price of wheat from its present depressed value. fallow, which receded from last year's prices by 50 per cent., now shows a tendency to harden, and prospects are favourable for further advances. Frozen meat has been steady for some time past, at an average of 5d per lb, which will pay the companies and give a profit to the producer. Experienced traders assure us that New Zealand mutton will for the future take a permanent hold on home consumers, and maintain the position it has secured in English markets. With the appreciation in the value of our leading exports, we may also expect an increased volume of trade to those industries which are dependent upon the general production of wealth. An enquiry into the effect of dull times on the mass of the people, as shown by the accumulation of earnings in the two savings banks, are submitted for four years, ending 31st December, 18S5, and separately for the last six months, ending 30th June. Auckland Savings Banc. No. of Amount Amount deposl'rs. depoai'd. wltlnl'm. Yr. ending Dec 31, 1832 6,904 £212,514 £188,609 „ „ 1883 7,047 £-217,113 £2i:9.441 „ „ ~ 1884 9,751 £316,516 £279,752 1885 11,427 £382, £335,825 Half-rear ending Juue 30,1886 .. .. 11,873 £185,871 £182,809 Post Office Savings Banks. No. of Amount Amount deoosi'rs. deposi'd. wlthd'rn. Yt. ending, Dec. 31,1882 7,0-19 £201,868 £169 781 „ „ ~ ISB3 8 320 £180,390 £194,250 1684 sore £199,070 £195,701 1885 9,210 £165,068 £195,224 lulf-yoar ending June 30,1880 .. .. - £32,446 £90.102 These figures are satisfactory proof of general improvement, and up to latest dates there is conclusive evidence of sub stantial well-being among the hardy " breadwinners" in this portion of the country. The commercial future of Auckland is indisßolul)ly linked to her port, and the pride of our people may well be pardoned in looking forward to the time when this shall be the Liverpool of New aland. There is no insuperable difficulty to prevent it. Bountiful Nature has been free with those great natural advantages which place
OUR HAKBOCJR among the foremost in the world. It is wholly devoid of obstacles to navigation, and its extmt is such that the navies of the world may take shelter in safety within its placid waters. The duty, however, of making the most of it rests with the governing body, the Harbour Board. Efforts should be made to show traders aud shippers that facilities without stint will at least be afforded that are adequate to its requirements. Whilst the city has been carrying out comprehensive improvements with Jhe view to making our homes more healthy,' our parks and pleasure grounds attractive, and Auckland altogether a desirable place to live in, the harbour ha* remained practically the same. In fairness, however, to the Board, it may be said that other improvements had for the time to give way to the construction of the Calliope Dock, the largest dry dock south of the line It may well be said in regard to it that if Auckland is to lay claim to consideration in the future as a prominent maritime port, a dock suitable for the larger class of vessels likely to visit her waters is an essential equipment. The acquisition of a suitable dredge, and the adoption of a portion of Mr. McGregor's scheme of improvements, indicate a decided advance in our harbour works. Immediate work, however, should be undertaken in the matter of providing more berthage room, and affording increased shed accommodation. Our good name as to shipping facilities should not bo allowed to suffer, nor loss and inconvenience be caused to consignees through avoidable detention in delivery of goods. Complaints in this respect have appeared from shipmasters and consignesß which indicate dissatisfaction, that is to some extent justifiable. This brings me to the question of our EXPORT TRADE AND SHIPPING. The supremacy of Auckland as a maritime port is clearly exhibited in the appended tables, which show an excess of 80,000 tons during the past year over the next highest in the colony, and also shows that during the year theincreased tonnage amounted to 15,785 tons, as compared with theyear previous. Itis satisfactory to note that the direct steamers for the past year have been regular and frequent visitors, numbering fourteen for the year ending Ist July, as against four only for last year, and six the year previous. The San Francisco mail service has been satisfactorily arranged under the joint management of a powerful American firm and the Union Steamship Company. It is being efficiently and punctually performed to the satisfaction of all concerned ; and the United States Government, with proper appreciation, have recently voted a substantial subsidy to American-owned majl boats. This service will certainly have a fair claim for an equitable proportion of it, I must now refer to the future of LOCAL DIRECT TRADE J And its advantages cannot be better exemplified than by viewing the comparative value of exports from this port to others. To New South Wales we export £79.000 worth, the Pacific Islands £42,000 worth, Victoria only £17,500 worth, and Queensland £4194 worth. It is surely a safe inference in this matter to say that if Melbourne and Brisbane were in direct communication with Auckland, the exports to those places would be largely increased, and a profitable interchange of trade result. The experiment is well worth the risk, and great results may come out of it. It has often been said in this Chamber that the Island trade is the
ecaliar province of this port and its traders, ts range is so extensive and possibilities so great that it may well be compared to another India. Regular communication with Fiji, Tonga, Samoa, Tahiti, and Rarotonga shows a steady improvement, notwithstanding the fact that the trade in these places has been subjected to the same depression that was experienced in other parts of the world. The demand for their produce fell off, and planters, as a natural result, reduced their area of cultivation. Another market for the colony has been opened out by making Rio Janiero a port of call for the direct steamers ; and goods to the value of £13,600 were exported last year to Brazil, as against £3616 the year previous. Auckland has not contributed any portion of this amount ; but I mention it aB a word in good season. Having dealt with the question of external trade and policy, I now come to one of considerable local importance, namely, PUBLIC WORKS. The Chamber has taken much pains to frame a definite policy for public works required in the northern portion of the colony, and copies were printed of our report on this matter, and forwarded to members, urging their active 00-operation. The result is, &b you all know, that we must accept such crumbs as may be left out of the general scramble, after the interests of other portions of the colony have been served. If we are to obtain that which is our just proportion of public works, there must be adherence to some common bond of union. Success will lie with those who are united, and do not swerve from the great and necessary objects they have placed before them. Another matter, the adjustment of our representation, is a abounden duty, that mußt be no longer dallied with; the question is too momentous to brook delay ; and I strongly counsel the new Chamber to importune members until they force action npon the Government before the session is broken up and fresh complications arise, I need no apology for now referring to the subject of RAILWAY REFORM. If our lands are to be settled, and our cities decentralised, by the creation of inland towns, the railways of the colony must be placed on a different footing. The consideration of special circumstances that should modify an adamantine tariff, and the matter of concessions for long distances to facilitate settlement, have not entered into the red-tape calculations of railway rule in New Zealand, It is the hard and fast regulations of engineers, not the practical planning of experienced business men, that guide our railroad policy. Experience does not teach nor diminished revenues deter. If our authorities need precedents or principles to guide them, they can find them in foreign places ; the most recent instance is America. Che great trunk railways of the United States have, during the past year, been at war. It was supposed that with some of the lines, sudden extinction would exemplify the survival of the wealthiest. But not so; with the keen catting of freights came immensely increased traffic to compensate, and fairly remunerate, whilst the communities affected by the reductions suddenly found new markets for hitherto negleoted productions. The Eastern States are now supplied with oranges, lemons, grapes, and other fruits from California, formerly supplied by Florida at higher prices, and Eastern manufactures push their way steadily into Western markets with mutual profit to all concerned. _ The railway s of the colony should be managed in the interests of settlement, and not guided by the narrow, huckstering ideas of the proverbial greengrocer. All colonial Governments desire to settle satisfactorily the waste lands of the Crown ; and this can best be done by using the railways as cheap means of communication between the distant farmer and his market. Until a more enlightened regime in railway management is established, agricultural operations in far-off portions of the province cannot be expected to pay. Next to the consideration of our communications for the purpose of trade, I come to that of industry, as shown in OUR MANUFACTURES. In addition to the larger industries of Auckland, such as timber mills, sugar refining, frozen meat works, quartz mining, collieries, etc., there are numerous smaller industries that should be fostered. By the discerning support of these in the future we shall gradually induce immigration of the best kind, and find occupation for theartisan class, whose skilful labour, associated with capital, will establish many of the industries of the Old World, Besides this, useful employment for the new and rising generation will also be provided in new and profitable channels. There are now established : manufactories for agricultural implements and machinery, foundries, coachbuilding factories, boatbuilding yards, furniture manufactories, chemical works; oil, soap, and candle works, boot factories, rope and twine works, grain mills and biscuit manufactories, cheese and butter factories, breweries, ; brick, tile, and pottery works, lime and cement works, tanneries, clothing factories, &0., and a woollen mill and tobacco factory are in a state of incubation. This is so far in the right direction, bat a' glance at our imports reveals the fact that we ara still importing articles to a large annually that may, with experienced skill and enterprise, be produced locally; others that I name, although partially established, should be so extended, as to diminish or exclude the foreign article. These artioles suggested as being suitable for local production but now imported are takeh as follows, for the year ISSS, with their values :— Agricultural implements ... £13,833 Apparell and slops ... ... 216,046 Cornsacks and flour bags ... 113,298 Bark 45,581 Boots and shoes . .... 185,642 Brushware and brooms 10.931 Candles ... ... 71,673 Carpet and druggeting ... 36,234 Cement • 83.792 Coals ... 147,083 Earthenware ... 35,102 Fish, potted and preserved ... 27,032 Fruit, fresh ... 81,977 furniture and upholstery ... 54,202 Hosiery ... ... ... ... 614 Bar, bolt, and rod iron .... 70,634 Galvanised and corrugated iron 114,613 Wire-fencing ... .... ... 79,877 Jams and jellies ... ... 11,354 Leather 83,689 Milk, preserved 15,425 Nails ... ... 35,433 Linseed oil 27,233 Olive oil 14,868 Castor oil ... 14,072 Paperhangings 23.783 Printing paper 67,621 Wrapping paper ... .« 9,114 Kailway locomotives .... ... 63.003 Saddlery and harness .... ... 28,000 Salt 30,590 Sauce ... ._ .w. ... 16,150 Starch ... 10,910 Tobacco, manufactured ... 93,868 Cigars and cigarettes ... ... 29,254 Varnish .... 265 Woollens ... .... ... 96,821 Woollen blankets .... ... 22,410 The aggregate of these imports represents the respectable sum of £2,130,000. Now, if we can retain a tithe of this vast Bum, by expending within the colony the value represented by the cost of production, we gain so much of the balance of trade in our favour, besides adding to the material prosperity of the people. The manufacture of cement that will equal the best imported is now, I am informed, an accomplished fact. This being as is represented, its value as an industry cannot be overestimated, and again the immense field open to enterprise in the export of fish, frozen and tinned, has been barely touched. More remains to be done in this direction, of a highly remunerative character. Before leaving the subject of home industries, I wish particularly to say a few words in regard to sub-tropical industries. California, a country that in the essentials of climate and soil resembles New Zealand, has within the last ten years sent forth of her surplus fruit produce thousands of tons throughout the world, and there is no good reason why North New Zealand should not follow her example. All the New Zealand producer requires by way of protection is roads and railways—roads constructed to navigable waters and railways, and railroads managed in the interest of the settlers. The best protection for the- producer in New Zealand is low railway rates. Auckland province can, under proper conditions, emulate California in the production of the orange, the lemon, the grape, the hop, the olive, tobacco, and sericulture. Attention has at last been aroused to the fertility of soil, and salubrity of climate in those beautiful valleys in the distant north, the suitability of which, for the successful development of numerous industries capable of sustaining a large population, is undoubted. As a local industry, special reference is due to frozen mutton. The freezing of mutton is a newly invented process, -ana may be said to date from 1883 as an export.
In the year 1883 New Zealand exported 3597 tons; in 1884, 12,031 tons; and in 1885,14,145 tons. Our competitors in frozen mutton for the home market are Australia and the River Plate ( Their exports for the same year were Australia, 1883 £ m 1587 tons. „ 1884 _ _ 3129 „ » 1885 ... 2679 „ And the River Plate, 1883, 306 tons 1884, 2426 tons; and in 1885, 4440 tons. Our local company, whioh does not figure to any extent in 1885, shows the following ex* cellent returns to 30th June last:— Frozen mutton exported ... 789 tons, „ beef 174 „ Beef and mutton preserved in tins ... ... .... 1932 „ Corned beef in casks ... 348 ~ . Butter exported 470,400 lbs. Eggs „ ... 250,000 doz. Bones and horns .... ... 150 tons. Tallow 572 „ Besides the manufacture of 1500 tons of manure and 400 tons of bonedust. It can scarcely be doubted that an industry such as this must exeroise a beneficial influence on farming products generally. Beef, mutton, and butter should command a fixed remunerative price, and the cry that " farming does not pay " become a thing of the past. It has frequently been said that this company can do no good as it cannot get sheep to freeze. Now, as a matter of fact, they have now, and will in the future, have ample _ supplies of all sheep they require. A praiseworthy feature of this company's operations is their endeavour to make this port the entrepot for produce of all kinds from different parts of the North Island. Success has in a great measure crowned their efforts, aB their manufactures have received distinguished approval, including the commendations of the Admiralty, There is reason also to feel gratification that they now bold, as I am informed, the premier position in Australasia as meat preservers. I desire to record honourable mention of the spirited efforts of those enterprising citizens who have strained every nerve to convert the ironsand of the West Coast into good marketable steel at Onehunga. It must not be thought that the battle is lost. The vicissitudes of all great discoveries and inventions furnish the history of untiring energy, depressing trials, and partial failure, but ultimate success- And so, let ns hope it will be in our iron industry. Kauri gum as an article of export shows a decrease of 800 tons as compared with last year. Even this industry has not been free from the general depression. Flax also exhibited a decrease of about 50 per cent. There has been, on the contrary, an increase in the quantity of wool exported from this province as compared with the previous year Timber also shows £28,000 of an increase in exports. MINING. Of the many industries which we look forward to as a means of making Auckland » great commercial centre, surrounded by innumerable arteries of trade, few will play a more prominent part than our quartz mines. For ourselves and our children there will remain ample scope for new developments. Precedents without number confirm the view that, while this industry is subject to periodical depressions, invariable reactions set in as the result of new discoveries, and it again starts up into renewed activity. This is peculiarly applicable to districts such as Coromandel, the Thames, and Upper Thames, where the hills and gullies are for the most part still covered with impenetrable bußh. That "knowledge is power in the matter of quartz mining and precious metal finding is singularly true, and gratification will be felt that the Government has at last done something towards remedying past neglect by establishing a school of mines, I much mistake the temper of our Thames friends if they allow this institution to languish for lack of interest in its usefulness, or fail to perceive the benefits that will accrue to their district through its teachings The failure of the LaMonte process has caused the value of some of our most promising mines to sink to zero. But is this despondent feeling justifiable ? That gold and silver exist in largo quantities, in a condition quite different from what we have been accustomed to is now unquestioned, and if; remains with us to find out and apply the most practical method of saving those precious metals. Before long it will be found that for the richest class of ores an improved furnace may be the most suitable, for the medium quality a pan process may behest, and for the inferior grades that the battery and tailing concentration can be employed. The productiveness of the Upper Thames district will soon receive definite demonstration, as several leading mines are sending large shipments of quartz to England, and some to California, for treatment. This will set at rest the measure of their value. Technical teaching in mining suggests technical teaching in another direction, 1 refer to A SCHOOL OF AGRICULTURE. It were well perhaps at once to dispel any feeling that may exist in the minds of Auckland settlers that this Chamber is not in the fullest sympathy with them and their pursuits. It is an axiom that commerce and agriculture must go hand in hand. Our cities and towns, railroads and manufactories draw their sustenance from agrioulture. We therefore moat naturally desire progress and improvement in the position of our fellow-settlers and agriculturists. Thiu Chamber has from time to time made representations to Government in regard to obtaining an agricultural college for this part of the colony, but has hitherto only succeeded in having the matter recognised as being worthy of further consideration when funds were forthcoming. This is a question that especially concerns that portion of the province lying north of Auckland. It may be interesting to note, for the encouragement of faltering colonists, that farmers in California have recently struck a "Bonanza." New developments in agrioulture, combined with the low railway freights, is said to be worth more to that State that the discovery of the Comstock lode. The San Francisco Bulletin says :— "Orange and olive orchards, vineyards, hamlets, towns, large hotels, whole cities are rejuvenated, and an augmentation of the best population is taking place by thousands. This is rather the discovery of a new era than the closing of it. No new millionaires are suddenly created, but there was something better in the fact that thousands of people were put upon the road to permanent prosperity." Without hesitation I say that which has taken place in California can as certainly be done in North Auckland. The drawback is lack of practical knowledge or experience. One claim upon the Government for the foundation of an agricultural college is this : that there are special conditions in our Northern soil and climate requiring instruction by experts, and that the outlay required is trifling as compared with the enormous advantages obtainable. Students should learn the chemistry of soils and manures ; how plants feed and grow ; a knowledge of entomology, to discern insects that are serviceable from such as are injurious; they should be taught the arts of drainage and irrigation, the culture of the best grasses, the best hedge plants, and the saving of seeds, the care and treatment ef horses, sheep, and cattle in health and disease; also the keeping of farm accounts. In horticulture the experimental culture of the hop, the orange, tobacco, and plants yielding sugar, tannin, and oils; also the mode of cultivating many other plants for which our climate is peculiarly adapted. In thus hinting at the usefulness of an agricultural college, I leave it with my successors to follow up the subject, which is one that bears strongly upon the future of the province. As touching upon the question of education I have a suggestion to make, t namely, that the Chamber should stand forward in the matter of commercial education, which should take the practical form of TWO SCHOLARSHIPS, one, an annual competition, open to boys in primary schools, to provide the successful candidate with two years' free tuition in the Grammar School, and another annual scholarship of, say, £10, open to boys in the secondary school. The examinations to be mainly in oaligraphy, ciphering, bookkeeping, commercial geography, and foreign languages-in a word, in every subject of% nature to form competent commercial men. This suggestion is not without precedent, to I now hold in my band a pamphlet in which a description of two schools are given under 5 the control and maintenance ot the Paris' Chamber of Commerce. This address would be bare and incomplete without soma reference to an event whioh will be read as history by generations that succeed us, I refer to THE VOLCANIC ERUPTION. This convulsion of Nature, of June 10, which, it is rumoured, has effaced those notable natural wonders, the Pink and
White Terraces of Rotomahana, may be deplored as a loss; but it should be borne in mind that there are still remaining numerous remarkable phenomena of great interest: medicinal baths of various temperatures and ▼ery beautiful terraces, though of lesser note ; and picturesque waterfalls may also be seen whioh were hitherto neglected or thrown in the shade by the fame- of the historical Terraces. New and remarkable geysers add to other striking objects, which will no doubt in the future make this extraordinary district a greater attraction than ever. No time should be lost in impressing upon the Government the necessity for making roads throughout the Hot Lake district. It would be a disgrace and drawback to the colony if this were neglected. Another attraction of a very different kind has been suggested by the Colonial Treasurer. I mean the projected MARINE inhibition in 1890. The idea is in every way worthy of the fertile brain that conceived it. Dunedm, Christchnrch, Wellington, Sydney, and Melbourne, have all had exhibitions, possessing more or less celebrity, and Adelaide is now sustaining the reputation of South Australia in the same direction. Then, why should not the principal city in New Zealand, with a harbour she may well be proud of, invite tho citizens of the world with their kith and kin to inspect a representation on the waters of the Waitemata of all that pertains to navigation, from the ancient coracle to the modern man-o'-war ? It is signally appropriate and suitable to our port, that an exhibition of marine industry, showing tho gear, equipments, and machinery of the world's maritime trade, should be held at a time when it is expected that the new waterway across the Isthmus of Panama shall have been completed. An exhibition building for models and marine materiel can be placed in an admirable position within the Domain, affording many special features as regards site. It will not, I think, require any argument to show this Chamber, and the community generally, the benefits likely to arise in so many direct and indirect methods from an exhibition so unique in character, as to be in itself au attraction to people of all nations. Therefore, it were well to keep this object to the front, and foster it in anticipation. THE FUTURE. It is our privilege to live in a country the future of which is secured upon a basis of ■olid inherent wealth. It has been described ■ by Froude as follows —"Where I never j met a hungry man, or saw a discontented face 5 where, in the softest and sweetest air, j and in an unexhausted soil, the fable of Midas is reversed —food does not turn to gold, but the gold, with which the earth is teeming, converts itself into farms and vineyards, into flocks and herds, into crops of wild luxuriance, into cities, whose recent origin is concealed; and compensated by trees and flowers, where children grow, who seem once more to understand what is meant by ' Merry England. "With an average for eleven years of 26J bushels of wheat, and S3 bushels of oats to the acre, as oor record against Australasia, and which can stand on an equality with the best European countries, and whilst we can show a warranty as to climate and health surpassing every country in the world, as evidenced by the average death rate (12-20 per 1000), there need be no forebodings as to the colony's destiny. YS ith that indomitable will and self-reliant energy which has stamped its character upon our forefathers, let each for himself bear his part in leaving the impress of our works as monuments of honour, usefulness, and greatness, to those who succeed us, as pioneers of industry. Mr. H. Campbell seconded the resolution for the adoption of the report and balancesheet. He said, comparing the present with previous years, he was struck with the fact that as the Chamber got older the objects with which it had to deal became of greater importance, and their duties became more onerous, and he might also add that they seemed to be discharged with greater vigour. After the exhaustive address given by the chairman, he would not take up the time of the meeting at any length, but would refer to the question of internal communication. Generally speaking, the wealth of a country was gauged by its exports and imports ; but in such a country as New Zealand, where they had the climate and means to provide almost everything they required, there was less need for imports, so that the criterion of exports and imports would not hold good, and on this point the subject of internal communication might be thought worthy to engage the attention of the Chamber. A good deal had been said on the subject, but one point which struck him was the want of reference to the matter from the settlers' point of view. Most of these were small settlers, who had only small products to send to market; but they had to pay out of all proportion for transit, and he thought attention should be given to this matter. It would be to the benefit of the country ; for no matter what their port may be—and they had not an export for their settlers and a large producing population | the advantages they had in having, as the chairman described it, the best harbour in the colony, it would be worthless. He impressed this subject on the incoming committee as possessing great importance, as it would be fruitful of good results if country settlers were enabled to send their small products cheaply to market. He had great pleasure in seconding the adoption of the report. The motion was unanimously carried. On the motion of Mr. C. C. McMillan, seconded by Mr. Ross, it was agreed that the report and balance-sheet and the chairman's address be printed and circulated. ELECTION OF OFFICERS. On the motion of Mr. F. Battley, seconded by Mr. T. Morkin, the following officers were elected for the ensuing year President, Mr. J. Lamb; vice-president, Mr. A. H. Nathan. Committee Messrs. John Ross, George Harper, H. Brett, G. Aickin, J. Reid, A. H. Heather, and C. C. McMillan. Auditor: Mr. J. Waymouth. His Worship the Mayor proposed a cordial vote of thanks to the retiring chairman for the manner in which he had performed the duties of the office during the past year, cordially endorsing the remarks of Mr. McMillan and Mr. Kcss. Mr. D. McLeod seconded the proposition, which, on being put by the chairman, was carried by acclamation. The Chairman, in reply, said he had to thank them very heartily, and in reply to what had been said he felt that he had tried to do his duty, and if called on to take office again he could not do better. It was not always that public men got even a measure of appreciation, but in accepting this vote of thanks he felt that he had more than his reward. NEW MEMBERS. A list of new members was proposed, and Messrs. Ehrenfried and Harper, who were appointed scrutineers, declared the following gentlemen unanimously elected :—Messrs. J. Aitken Connell, James B. Graham, R. Isaacs, W. T. J. Bell, H. Houghton, 11. Cameron, C. A. Harris, jun., and Rev. David Bruce THE NEW CHAIRMAN' Mr. J. Lamb, the newly-elected president, then took the chair. He said he would not detain the meeting long. When asked by the committee to accept this position of chairman, he did not think he was the man best fitted for the position, but they thought otherwise. He fully appreciated the honour. He had been a member of this Chamber for the last 20 years, and had taken an active interest in its proceedings, but now he would feel a still greater interest in its welfare; and, with the committee whom he had around him, he had no fear but that the Chamber would make its efforts felt, and he should lose no opportunity of forwarding the interests of Auckland. He held that the commercial interests of Auckland were second to none in New Zealand, and he considered they should be felt. He thanked the Chamber for the honour conferred upon him. RETIRING COMMITTEE. Mr. T. Morrin proposed a vote of thanks to the retiring committee. His Worship the Mayor seconded the motion, and took occasion to point out that the manner of the selection of the members did not ensure public confidence, or give the tradespeople of Auckland an opportunity of being represented. He had heard many complaints of the exclußiveness of the Chamber. He also asked, with regard to the admission of country members at a fee of 10s 6d, whether, in the event of an important question, those country members who only paid half a guinea should flood those city members who paid their two guineas? He. thought the country members would find it worth their subscription to attend and see the papers which were frovided. In regard to the Harbour Board ashless, to which reference had been made* lie might 8»y that they had simply done their
beat according to their means. If they did not always have the beet value for their money it was not their fault, for they adopted the same principle as other institutions in calling for tenders. They had an overdraft, and they did not seek to increase it at the dictation of any board or body, but the Chamber and' the publio might rest assured they would get all that was required in regard to wharf and shed accommodation , when the present Bill was passed, and their shed and wharf accommodation would then be quite equal to what they had in the South. He had recently visited the South, and inquired into their accommodation, and found they were not so successful as has been represented. What they wanted was berths for two ocean-going steamers, and plans would be put in train as soon as possible for the necessary accommodation. It might bo right that the Harbour Board as a public body should be touched up, but if importers were as ready to remove goods as the Board was to move them along there would be no complaint. Mr. Aickin explained that there seemed to be a general misapprehension, which was shared in by the Mayor, in regard to tho nomination of members. There was no attempt to make it a hole-and-corner business. He read the rule in regard to tho nomination of new members, and said that it was in consequence ot the members neglecting to take the necessary action that the committee had to step in and make tho nominations. Mr. A. H. Nathan responded on behalf of the retiring committee. LF.ASK OF ROOMS. This question was referred to the committee to bring up a report. CO TRY MKMIIFRS. In regard to the circular to country members, the question was also referred to the committee. NORTHERN RAILWAY. In regard to Mr. Hobbs' letter as to Northern railway, this matter was also, on the motion of Mr. Aickin, referred to the committee to report. TUB SECRETARY. On the motion of Mr. Ro.*s, a cordial vote of thanks was awarded to Mr. Menzies, the secretary of the Chamber, for tho very efficient service he had rendered during the past year. This concluded the business. NEW ZEALAND LOAN AND MERCANTILE AGENCY CO. (LIMITED). The annual local meeting of shareholders of the New Zealand Loan and Mercantile Agency Company (Limited) was held at tho offices of the company, Queen-street, at noon on July 7—Dr. J. Logan Campbell in the chair. About twenty shareholders were present. The Inspector (Mr. F. Battley) read tho advertisement convening the meeting, and the minutes of tho last annual meeting, which were confirmed.
The Chairman then said : Gentlemen, — You have been called together to-day in accordance with the requirements of the articles of association, our chief business being to provide for the due election of the local Board of Directors, for you are aware that the annual report and balance-sheets aro issued from the head offico in Loudon. These for the past year, together with the report of the proceedings of tho annual meeting in February, have already been furnished to all the colonial shareholders, and it is unnecessary for me to take up your time in having them now read. You will have noted the salient points in tho chairman's address are—tho steady increase in the company's business, and its financial status at home. In the first point yon will find statistical returns given, which I do not require to repeat, proving the increased volume of business. It is true the profits have not been equal to the preceding year; but looking to the abnormal state of depression under which we have been labouring in common with the sister colonies —indeed, the world at large— I am sure you will agree with me that we have great cause for congratulation when we have been able to add to our reserve fund a sum of £15,000, and to carry for- i ward a credit balance of undivided profits of so tangible an amount as £14,905; and last, and not least, that you have received the customary and highly satisfactory dividend and bonus of 15 per cent. With regard to the prospects of the company for the current year, I think I am warranted in saying these are of a most encouraging character. After a long period of unparalleled low prices for wool (which have been so severely felt by our pastoral constituents), the late sudden and great advance which has taken place in the home market will restore < to the squatting interestits formerprospcrity. The agriculturist, also, has now brighter prospects, as there are indications that grain has at last made an advance on tho late unprofitable prices, and consequent upon this I am pleased to be able to state that a very considerable increase in tho area under cultivation has taken place in the Middle Island. There is also the breaking up of the drought in Australia, which will give new life in that country, and which will largely increase the returns of this emporium, both in regard to the quantity of wool passing through its hauds and the commission arising from its sale at the now greatlyenhanced prices. I have now to take up the second point, which was enlarged upon in the ' chairman's address in London—the financial status of the company—and here I am met with rather an anomalous cir- I cumstance, but one which is, after all, of simple explanation. 1 allude to tho fact of tho low price at which the company's shares have been lately quoted in the London market. For this there is no reasonable or just cause, for, as has been pointed out in the address of Sir James Fergusson, the company has no difficulty in placing its debentures to the full extent of its borrowing powers at low rates of interest. The probable causes have been the accidental compulsory realisation of several large holdings of deceased proprietors, also the exaggerated accounts as to the depression the colony has been labouring under, and the persistent attacks which a portion of the English Press has made against the colonies in general, and more especially New Zealand. Further, we may have to thank some kind friends, not entirely disinterested, upon whose domain this company has made heavy inroads, for the unscrupulous manner in which they have spoken of us, even going the length of affirming that our whole reserve fund ban boon swallowed up. The addition to it of £15,000 does not look very much like this. But it would be out of all reason to expect that, with such a long-continued devastating drought as has been experienced throughout Australia, and with four successive bad seasons in New Zealand, combined with the unprecedently low values of wool and grain and other produce, any company doing such business as ours could poesibly pass through such a period scathloss, and in isolated instances we have been obliged to enter into possession of our securities. The improved state of the market will enable us to realise such properties, and 1 am pleased to be able to assure you that we have the fullest confidence in effecting this without appreciable loss to the company. We have recently had to deplore a case of default on the part of our Sydney agent, Mr. Holt, the first case of the kind in our experience, but, as far aa is yet known, we are not likely to sustain a greater loss than from £1500 to £2000. In conclusion, I can ouly again state that the company's business generally continues in a flourishing condition, and that tho profits for the current year have at present every indication of being fully up to, if not surpassing, the average of previous periods. ELECTION OF DIRECTOR. Mr. A: K. Taylor proposed the re-election of Dr. . J. Logan Campbell, the retiring director. Sir William Fox, in seconding the motion, said that it would bo absurd for him to make any remarks as to Dr. Campbell's fitness for the position. He had very much pleasure in seconding his nomination, as during a course of thirty years he had been intimately acquainted with him. Tho motion was then put and agreed to. ELECTION OF AUDITOR. Mr. J. L. Wilson proposed that Mr. William Innis Taylor be elected colonial auditor for the ensuing year. Mr. J. Pkobert seconded the motion, which was agreed to. THANKS. Mr. J. Hi Upton moved a vote of thanka to the chairman, directors, managing directors, and officers of the company for their services during the past year. He said that ho had greatr pleasure in proposing this motion; He had no doubt that, with such a large ground to work upon, and such a large capital to operate with, it was easy to make utouoy, but at the same time the facilities
for losing were quite as easy. In view of the recent depression in New Zealand and elsewhere—severe enough, although Auckland had been prosperous—it was matter of congratulation to the shareholders that the directors should have been able to present such a satisfactory balance-sheet. He was glad that they were able to say, with respect to one of their officers, that the company had lost so little by his operations. He referred to Mr. Holt. While he moved this general voto of thanks to the officers, he supposed that Mr. Holt ought to be excluded from it. They could not too much emphasiso their good fortune in escaping with so alight a loss as £1500 or £2000. Mr. W. S. Wilson seconded the motion, which was passed unanimously. The Chairman thauked the meeting on behalf of the directors. The Inspector (Mr. F. Battley) said that it vol veil upon him to express to the shareholders the thanks of the officers for this renewed acknowledgment of their services. He might remark that periods of depressed prices accompanied by unfavourable seasons wero trying times. Ilia duties required him to visit the various branches of tho company, and from his experience he thought that the officers had shown as keen an anxiety and as great an assiduity in their work as if that work had been directly for themselves—perhaps they had been even mora anxious to protect tho interests of the company than men of business would be where the interest was entirely their own. It would be, therefore, gratifying to them to Cud that their exertions were appreciated by the shareholders, and he would have much pleasure in convoying to the officers tho thanks of tho meeting. The draft minutes having been read, tho meeting terminated. AUCKLAND INDUSTRIAL AND PROVE. DENT PERMANENT BUILDING LAND, AND INVESTMENT SOUIEIY; Thk half-yearly general meeting of the members of this society was held on the 2!) th June at their offices to receive tho report and audited statement of receipts and expenditure for the half-year ending March 31 last. There was not a quorum present. Mr. Graves Aickin presided, and said in the absence of a quorum the best thing they could do was to give those present what information they could, and he called upon the secretary to read tho report. Tho secretary then read the following report and statement of accounts : — Your directors, in iires<>nting the report for the half year muling olal .March, ISSIi, have tocoogi'.-itiihtto tho shareholders oil the coi.tiiuioii success 01 tin: operations of the see oty. 'I ho strictly mutual lilies on which the society is wrn'kmi have omihloil tho directors to otter p'.iozmliy advantageous terms to both borrowers ami iuves'.ois, ami it is giatiiyiu,; to Und that their efforts to provide persons desirous of acquiring homes <>f their own with a moans of doing so oa oa>y tanas, and at tho same time to otter a safo and protlta! lo investment for savii gs. are being appreciated by a constantly-increasing number of the provident of all clisw. The amount lent out tinting the term is considerably in excess of the sum advanced iu any previous half-year of tho society's existence, and tl*i?, notwithstanding tho fact that your Survey Committee have ejirei«ed extieme caution in the valuation of securities offered« and a lv,incus have only ben made win tiio margin of nccsirity has been ample to ensure the investing shareholders against any 10.-s There has been a inquiry f>r ordinary and paid-up inves'irg -hares during til.-lulf-ye.-ir, showing that the investing public are fully aliva to the admit able nature of the security the society c Ikr-t. — For tho 11-ard of (jit.wVs Aickiv, Vice I'rcs dent. The following was tho balance-sheet ' UiX'Kirrs — Cish in hand and Inn'*, s-'ept-'nibar 30, JSS;'). 1)5; investor'' sutisi-■riptio-is. £' 110 I>4 1 ; borrowers repayments, £'J-U7 It's; deposits, £.'>4.*>J : rents from shop and ollicut, Ills si; borrowers' general ucci ants. £liu ; insurance-', £117 IDs lid! tines, £117 l-i 10 I ; interest, £:> 17* -11 ; entrance fees, £70 IDs ,'i 1 ; survey fees, £I<> IJ.. 3d ; books, .L I ISs : tola), £-:!,M.'> oi -d. hi'i'aNi>m;li*. — Loans advanced, £10,003 Is fid ; shares matured and withdrawn, £iO-J f>s lid; deposits withdrawn, f otiii > lbs fid; interest paid depositors, Jfci-., £■<;"« lii, led ; rents ai.il rate?, CI;U Iris ; Insurances. £1K» is 4d ; survey fees, .C.VJ Jos lid ; borrowers' general utit<, £30 . olli o furniture, £20; books, £10; relumed foe?, £lf> Is (id. ."Miscellaneous . Manager's sal try, director*' honorarium charges, stationery, advertising, ami printing, £'27:> 10s 4d ; cash in baud ami bank, JL'JUi 17s lid ; tuti.l, iiti 545 3i 2d. The chairman said no doubt those who wero not present wero satisfied, or they would have been there to express their dissatisfaction. It would be seen that they wero going on satisfactorily. Them hail been no rapid progress, by leaps and bounds, so called, but their progress had been thoroughly secure. Their investments were thoroughly looked after, and investigated by an excellent survey committee. The balance at their bankers was not large, but thoroughly sound, and very little of their money had been lying idle. Mr. Laßjcho said he thought it should be mentioned that they might have lent much more money but for the very great caution they had exorcised in lending. The chairman said they had exercised very great caution, and, though their borrowers were for the most part working men, who had suffered much by recent depression, they had had very few applications to relax their rules as to repayment. The meeting then terminated. AFPLK FARM COMPANY. The adjourned annual general meeting of the Apple Farm Company, which was to have been laid on the 'Jiith of June, lapsed for want of a quorum. From the report it appears that the apple trec3 are in a healthy condition, and gave every promise of large yields. The periodical visits of the directors to the farm have enabled them to form an accurate estimate of the condition of aliairs, which, it would appear, is most satisfactory. The following is a copy of the balancesheet prepared • — IiM.iNC-siit-FT, Jrxs 17ru, IS3G. Pp.* To C.I- ital 'Jo.e'io .'.hares at 1 c.-, £10,000: le.'s unallotted, fiituo, i. - 2.>i.0 : dr. uncalled ira lo,' Oo at Is lid, £llJ.'>; ito. unpaid cv..!j. £.>!!> 7s 0 1 ; do. sundry creditor', £101 10s lid: d", lulls payable, £17 Os 4 I ; d . mortgage mint, t;".000 : do. bank overdraft, £302 l is Id; total, till.-.00 17s lOd. Cli : I'.y freehold .-state, -tiOOJI .'ls 3d ; orchard and nursery, £3,100 'Js id; stuck and c:cpi on hand, £201 7s ; shares M-eount, £00 : Mindry debtors, £'.).'! O, 2d ; cash in hind, (is ■! 1; prollt and loss, £'.)JJ is ltd ; tola 1 , £11,300 17s bill. I'lioKir AM) T d' 3. Dr. : Wares on orclr>rd a co in!, £2' 0 0s Cl salaries and oflico cxp-nscs, £-01 111 2d; interest on mortgage, Xc. £377 Kit 10.1 ; general expense.', £117 lis lid; leaded block exrendit tro, £14 is fid ; cro| a account. £;.".! Id ; farm requisites, £03 1 Is !ld ; livo stock, £32 :;s i; I ; orange and lemon tr-es, £11) L's (id : total, £1214 OS li 1. Co. : IJ. lance, June 17, lw, £ I >0 :'s ; apple? sold, £47 3s 7d ; gra/. ng account, £3 i.'.s ; forfeited shares, £22 10i, balance, £'.)JOSs lid : total, £1214 CIS oil.
THE UNION INSURANCE COMPANY. The ninth annual meeting of the Union Insurance Company was lield at Christchurch on the Gih July. The lion. W. Peacock (Chairman of Directors) presided, and there was a good attendance of shareholders. The chairman regretted that the business of the year had not shown so handsome a return as lie had hoped, but it was satisfactory that tho interest from capital on accumulated proiits enabled tho directors, by slightly trenching on the floating balance, to pay tho usual 10 par cent, dividend, and still leave a substantial amount to be carried forward. It was gratifying that the unremunerative risks had been diminished, and the business of the London agency had boon largely curtailed and reinsured. Referring to tho destruction of Mr. Mc Rao's house at Wairoa, ho had that day examined the condition of policies of all insurance companies. No liability attaches in respect of any loss arising through the action of volcanoes or earthquakes, or whether the property is overwhelmed or destroyed by fires arising therefrom. Such being the case, although the directors personally sympathise very much with Mr. Mcßae in his severe misfortune, they are neither justified nor warranted in paying any shareholders' money to recoup him. The directors hoped to be able to show a reduction in tho expanses in the next balance-sheet, The expenses of tho branches in America were very heavy, but the business there bad always loft a profit to the amount invested on mortgages, and the fixed deposits had increased during tho year. After a long and exhaustive examination by a committee of the directors, they had concluded that the position of the securities held was satisfactory. He believed that the reckless cutting for business by iusurance companies had become a thing of the past, and better rates were being generally obtained than a few years ago. Greater care was being exercised by insurance companies in respect of risks, and this acted as a bar to over insurance, and incendiarism. The Union Company impressed on their agents the necessity for close attention to this matter. It was hoped insurance companies would continue to request the Government to introduce a Bil I next session, providing for registration with limited liability, and leaving out the objectionable clauses which killed the Bill last session. He moved the adoption of the balance-sheet and report, a digest of which shows a credit balance of £15,617 9s 4d, of which amount the directors recommend that £10,000 be devoted to payment of the usual dividend of 10 per cent., leaving £8617 93 4d to be carried forward to the next year. The report states that the business has been considerably pressed at various quarters, and though uuch action means
reduction of premium income, it is likely to add to . future profits. -The motion was seconded by Mr. W. Aoton Adams, and agreed to. Messrs. Joseph Palme;- and Peter Cunningham were re-elected directors. It was decided that the number of directors bo rcduccd from eight to seven, and the amount to be paid as director's fees from £1000 to £700. A proposal to give the directors a fee of one guinea each for every meeting they attended elicited rather a warm discussion, and was negatived. Mr. Johnston gave notice of the following, for next meeting, "That from this date no director be allowed to borrow any money from the company, and any director who has at the present time borrowed from the company, be required to return the same at the time agreed upon." 'lhe usual voto of thanks concluded the business. NEW ZEALAND EDUCATIONAL INSTITUTE. The annual meeting of the Auckland branch of the New Zealand Educational Institute was held in the Wellesley-street East school-' building on the Ist of July. Present: Messrs. P. Leonard (chairman), Carter (secretary), Benge (treasurer), 11. Worthington, A. McArthur, Scott, Gurr, Dyer, May, Edwards, Bruford, Misses Wann and Dunning, and three or four others. After the minutes of the previous meeting had been read and confirmed, tho chairman presented the annual report, which showed that the number of members on the books was 62, and the finances in a healthy condition. The treasurer, Mr. Benge, presented the balance-sheet, which showed that the total amount received was £14 lGs Sd, and the total amount expended was £',) Gs 9d, leaving a credit balance of £5 93 lid. Mr. Worthington presented the balance-sheet of the teachers' library fund, which showod that the total amount received was £5 17s 7d, and tho total amount expended was £6 3a (id, leaving a debit balance of 5s lid. Tho balance-sheets, having been audited by Messrs. Scott and May, were adopted. Tho election of officers for the ensuing year resulted as follows :—Chairman, Mr. (!urr; secretary, Mr. McArthur ; treasurer, Mr. Benge ; committee, Messrs. Worthington, Scott, Dickenson, Bourne, Bailey, Harrison, A. S. Webber, and Muses Wann, and Dunning. The election of delegates for the annual conference in January, was deferred. The new chairman, upon taking his scat, expressed his thanks for the honour conferred upon him. Tho alterations in the rules proposed by the Revision Committee were unanimously adopted. -Mr. Gurr proposed a hearty vote of thanks to the rotiring officers and committee for the able and efficient manner in which they had discharged their respective duties. Mr. McArthur seconded the motion, which was unanimously carried. AUCKLAND SOCIETY OF ARTS. Tiik annual general meeting of tho members of the Auckland Society of Arts was held at the Museum on the sth July, Mr. J. M. Clark presiding. Mr. Payton, acting secretary, read the annual report. The Chairman, in moving the adoption of the report and balance-sheet, congratulated the society on the progress it bad made both in numbers and the merit of tho exhibitions. The balance-sheet showed a larger balance than last year, which, though not large, was on the right side. This was satisfactory, as in carrying out tho objects of tho society tiicy could not tell what money might be required in the future. He congratulated the society on tho position it occupied, and moved the adoption of tho report and balance-sheet. Mr. Mackixhnie seconded, and it was resolved that the report and balance-sheet be adopted and printed. The "meeting then considered the rules, which were adopted, with a few alterations. The following ollicers of tho society wero elected President, Mr. J. M. Clark ; vicepresident?, Messrs. Martin and Mackechnie ; treasurer, Mr. Josiah Martin ; committee, Mrd. Clark, Mr. Blomtield, Mr, Bartley, Mr. Trevithick, Mr. Gilford, Miss Stuart, and Miss Home, It was resolved to advertise for a secretary. On the motion of Mr. Martin, votes of thanks were parsed to Mr. Holland for his services as secretary, and to Mr. Pay ton for taking up the work when Mr. Holland left. The adjourned annual meeting of subscribers to the Sailors' Home, Queen-street, was held on the 23rd June, under tho presidency of Bishop Cowie. Tho following gentlemen were unanimously elected Mr. H. F. Anderson, vice-president; committee, Messrs. Battley, Buddie, Larkins, Heather, Dr. J. M. Moore, Colonel Haultain, and tho Rev. J. S. Hill. The third annual meeting of the Gardeners' Horticultural Society was held on Monday night, the '2Srh June, in the Newmarket Public Hall. There were about 20 members present, and Mr. C. Hesketb. (Heskcth and Aitken) was called to the chair. The balance-sheet submitted showed that the expenditure for the past year was £200 ,'!s ill, less cash in hand £10 17s Id. The receipts wero :—Subscriptions, £2 2s ; special prizes, £.'> .'»s ; hire of trestles, £1 15s ; camellia show, £S Is 0d ; entry fees, £.'{ ISs ; flower stands, ISs 'Jd ; fund, lOs ; interest savings bank, 15i 10.1 ; subscriptions, £72 Ss ; special prizes, £;;:> oS; advertisements, £20 11 Gel ; door-taking, spring show, £32 2s G.l ; ditto autumn, £1!) 3a 01. The statement of assets and liabilities balanced. The rules of the society was read over, and considered serial:in, but no serious alteration was made. The following committee of management were elected : —All-comers : Messrs. C. S. McDonald (chairman), H. Gent, A. Griffiths, Bennett, \V, and D. Mclnuoe, Allan, B. Daweon, Gillespie, Rlackmorc, Skclton, and Jones. Amateurs: Messrs. C. Hcsketh, 11. R. George, and Dr. Saunders. Cottagers : Messrs. T. Phillips, jun., and J. B. Bull. Treasurer, Mr. A. Aitken; auditors, Messrs. J. K. Johnatouo and W. Goldio; hou. secretary, Mr. O. Smallfield.
On the 2Sth June a meeting of tho members of the Auckland Institute was held in the Museum Buildings, Princes-street. Professor lirown presided. The secretary then read the following report of new members : —E. W. Burton, Rev. J. S. Hill, J. Maclaurin, Dr. Lawry, Professor H. M. Posnett, Auckland ; C. P. Winkclmann, Kaipara Heads, lie also read a list of donations to the museum and library. Professor Thomas then read a paper on volcanic dust, illustrating his explanations of the formation of this dust by a series of limelight views of various phases of volcanic eruptions. The secretary read a paper by Mr.C. D. Winklemann on "Observation on the Hot Springs in the Great Harrier Island." The last paper set down for the evening was on "Medicinal Properties of certain New Zealand Plants," by Mr. J. Baber, but this was deferred until next meeting, A special general meeting ol the shareholders or tho North New Zealand Cooperative Association was held at Hamilton on the 25th June. The chair was occupied by the chairman of directors (Mr. W. A. Graham), who stated in his opening remarks that the institution had greatly improved since the last general meeting; many calls had been paid, and the debts owing to the association had been reduced by nearly £2000. lie looked forward to increased prosperity, and claimed that the institution had done much good for the farmers. The directors were so satisfied that they desired no change in the mode of conducting the business. Mr. James Forrest moved, "That tho system at present in force be continued." This was seconded, and carried. An amendment in favour of a purely cash basis was lost by a large majority. On the evening of July G a public meeting was held in the Temperance Hall to hear a, description of the village settlement scheme which the Government propose to establish in tho northern portion of the Auckland provincial district. Mr. John Lundon explained the scheme, which was to set apart 50 acres of land to each family for 30 years in the first instance, at an annual rental of Is per acre, to be renewed subsequently for 21 year terms at a rent which would be equal to live per cent, per annum upon the valuo of the land. A good deal of interest has been excited in the proposal, especially a3 it 13 reported that the blocks of land, set apart for this purpose are said to bo of really good quality. The annual meeting of the New Zealand Medical Association was held at the Dunedin Hospital on Juno 30; Dr. Hocken (president) in the chair. The following officebearers wero elected for the current year : — President, Dr. Batchelor; vice-presidents, Drs. Hocken and Copland ; secretary, Dr. Gordon Maodonald ; treasurer, Dr. Davies ; librarian, Dr. Colquhoun ; committee., Drs. Brown, Maunsell, and de Zouche. Dr. Hockeu, the retiring president, made a few shore appropriate remarks on vacating the chair,
I A meeting of the Auckland Institute of Architects was held in Messrs. Hammond and ! Son's office, on Tuesday, July 13, to bid f farewell to Mr. T. B. Jackson, who is leaving for Australia. Mr. Wade occupied the chair. Mr. W. F. Hammond proposed the following resolution : —"That the members of tho Auckland Institute of Architects regret the departure of their professional brother, Mr. T. B. Jackson, and tender him their best wishes for his future success, trusting that the ties of membership may be continued, and the links maintained by means of correspondence, and that this Institute offer to Mr. Jackson an honorary membership for life." Mr. 801 l seconded the resolution, and spoke in glowing terms of Mr. Jackson's personal and professional qualities. The resolution was carried amidst cheers, and Mr. Wade proffered it to Mr. Jackson, who said he had only tried to act as a gentlemen and an architect. The resolution had taken him quite by surprise, and he thanked the members most heartily, and promised to do all in his power to help on the Institute. Mr. Jackson, in conjunction with Mr. Grainger of Melbourne, gavo the Institute a grant of £5 each yearly for three years, to form the neuolus of a prize fund for pupils of the profession only. This grant Mr. Jackson promised to continue. The annual meeting of members of the South Franklin Agricultural Society was held at Pukekohe on the sth of July. There was a large attendance of members, showing the increased interest taken in the welfare of this society. It is only some Bix months since its formation, and the success that has attended it should be very gratifying to the promoters. Mr. Charles Shepherd, president of tho society, occupied the chair, and after briefly addressing the meeting, called upon the secretary (Mr. F. 0. Thomas), who read the report and balancesheet, which showed a balance of assets over liabilities of £25 3s 3d, The election of officers for the ensuing year was then proceeded with, the following 'gentlemen being appointed : —Mr. Charles Shepherd, president (re-elected) ; Messrs. R. Proude and J. Koulston, vice-presidents (re-elected); Mr. R. F. Webster, treasurer; Mr. F. C. Thomas, secretary Major Harris, and Messrs. J. 11. Wright, McNeish, J. Johns, W. Roulfiton, Sharpe, Collins, McDonald, J. Harris, Motion, J. Allen, C. lloskins, C. Barriball, Crispo, J. Gallagher, J. Brown, W. L. Beloe, Ballard, J. Rutherford, members of committee.
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New Zealand Herald, Volume XXIII, Issue 7693, 19 July 1886, Page 9
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13,965MEETINGS. New Zealand Herald, Volume XXIII, Issue 7693, 19 July 1886, Page 9
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