COMMERCIAL.

New Zealand Times, Volume XXIX, Issue 4208, 15 September 1874, Page 2

COMMERCIAL.

BY TELEGRAPH. AUCKLAND. Monday. Mr. Alexander Saunders reports Sales ; Beach, 10s • Tokatca, 9s. 6d, Buyers : Bank of New Zealand, 3525’. Cd. ; National Bank, CBs. ; Caledonian, 1755. City of London, 245. ; Bismarck, 4s. ,«d. Sellers; South British, 635. ; Bank of New Zealand, 3555.

COMMERCIAL EXCHANGES. A subject worthy of consideration in some of the chief commercial cities in New Zealand is the establishment of a City Exchange. What can he done in this way in Colonial cities has been well illustrated in Sydney. The members of the Exchange there lately made a presentation to the Hon. G. A. Lloyd, in recognition of his sendees in popularising the institution, and in acknowledging the testimonial, Mr. Lloyd saidHe had simply done what any other man would have done who travelled about with his eyes open. He was one of the first shareholders ol the Sydney Exchange Company ; and, after the building had been in existence many years, they found the undertaking a complete failure. Its halls were deserted, and it was very seldom that anyone was found in them : whilst at one time its income did not amount to more than £IOO a year. About five years ago, he crossed the Pacific Ocean, and visited a city with a population similar in its numerical strength to that of Sydney. There he found an institution with similar objects to the Sydney Exchange, but full of life and animation. He could scarcely understand how it was that there should be such a difference between Sydney and San Prancisco. On examination, however, he ascertained that they made it the central point for the collection of all the information on commercial and other matters that could be obtained. Telegrams were coming in from all parts of the world, at all hours of the day, and posted on black boards. Hot only was information obtained by the electric wires, but newspapers from all the important cities of the world were received almost daily, and kept easy of access. And in addition to the large amount of food for the mind there was also food for the body. About 1 o'clock every day, nearly every man of standing in the city was to be found in the room where 'Change was held ; and there they remained (or half-an-hour or three-quarters of an hour, getting informa- ' tlon and transacting business. When he returnfd to Sydney he determined to see if something of the kind could not be carried ont with regard to the Exchange. He suggested to his brother shareholders certain alterations ; and he was happy to say they entered into the spirit of the thing with as much enthusiasm as he did himself. Although there wore a few who were not quite so favorable to the proposed alterations, they at last gave way to those who desired to resuscitate the Exchange. We had now, he believed, got the start of the sister Colonies. It was acknowledged on all hands that we had now an Exchange worthy of the chief city of the Pacific ; and he hoped it would be the emporium of commerce. Men met at an Exchange to do business, and to leam what was going on in their own city, and all over the world. They existed in ail the great centres of civilisation, such as Lpndon, New York. Paris, Amsterdam, Hamburg ; and, although the Exchange in London had been twice destroyed by fire, on each occasion a new and more commodious and grander building rose upon the ashes of its predecessor. He had seen men pouring into the London Exchange by hundreds about 4 o'clock of an afternoon. You might there meet with all the leading men connected with the banks and mercantile institutions about, that hour. The Government of this country had done what it could to promote the Interests of .commerce by establishing free trade, and mail communication with England, by way of the United States, a.nd with the assistance of the sister Colonies, we had now a mail communication going on in all directions, which was no discredit to Australasia. But all these advantages would not assist us. If the merchants themselves would not meet and take counsel together, in order that they might push forward the great trade of which this Colony was destined to be the centre, and which ought to be extended far and wide.