CHAMBER OF COMMERCE.

Otago Daily Times, Issue 10423, 27 July 1895, Page 3

CHAMBER OF COMMERCE.

The annual meeting of the Dnuedin Chamber of Commerbo was held yesterday, and attended by He A. C. Begg (president, iv the.ohair), Messrn Keith Ramnay/ J. .T. Mtckerras, C. W. Kerr, P. R. Sargo.xl, J.- Karii Clark, M. Joel, G. L. Dennistou, W. Qow, W. B. IfeynoWs, K. Wilson, W.Hislop. k. Burt, J. -M. Ritohie, A. C. Stronaoh, H. B. Shacklcck, L M«i:deleohu, J. A. Stewart, D.'Baxter, T, G. Young, A, Miohie, W. B. Boyd, F. J. Towhsend, and J. H. Morrison.

ANNUAL HSPOBT.

The annual report (which has already besn published) having been taken as read,

The Fbesidekt (Mr A. 0. Beffg) said:— I rise to move the adoption of the annual report and balance sheet. ' The repozt is a very full one, and does hot require that I should say much of a.supplementary nature, The'chamber during the past year has dealt with a great variety of subjects of more or leas public interest, and has, I think, in every case voiced the general opinion of the trading community. The membership in not quite so l&rgn as last ye»r— the numbers being : 1894, 88 ; 1895, 83;— but thid is ecarealy to be wdiidered at, considering 'trie'period of •Bovere'depreaiiori through which we. have r been, passiug/ The very low prices ruling for all: sods of pur prbdnce has very materially diminished the spending power of all classes,'and the result has been stagnation and dulriess of trade' Still, it is to be wished that a larger number of our trader's would join the membership of the chamber, atid' thus enable its usafuluesa to be extended. The annual subscription of £2 2s is not at all excessive,'and I'hope^tUat bur numbers may be materially increased during the current year. We deplore the deaths during the past year of three prominent members of our chamber arid of the mercantile cbmiriunity. I refer to tbe late Mr William" Sooular, Mr R. H. Letiry, and Mr Henry ftofe. "■■TnVdcßthe of the two iormer occurred in especially sad circumstances, and than'of the latter was very sudden and unexpected; : While deeply regretting the loss bar caamber and city have sustained, I am Bure that our roost hoirty sympathy will also be extended to the relatives and'friends of those 'who have been so long asaociated with us. Our financial'posiitiori is good, the revenue having fully met tha expenditure, and there is a substantial balance in band: '

IMPORTS AND EXPORTS. '"''• There hastweu a considerable shrinkage in value of both imports and exports for the whole colony during the past year.- 'The 'former has decreased by £84,433—viz., 'from £6,788:352 to £6,703,919,—and the latter by: no lees •» sum than £555,939—viz., from ;£9,353,678 to £8,797,739. Frriai our own port there has also ;been a decrease—viz. \ ?in" imports "of £140 189 and exports of £265,077: These figures are not at all of a cheerful character, but they are not' unexpected, and do not- represent, so much a falling off in the volume of trade as a very serious-diminution .in. the celling values of nearly all our products, and a corresponding shrinkage in the spending power of the people. We can only> hope that-with recovering trade and better prices, of -which there are many indications, we shall be able during the current year to show, a larger and better trade. X shall. refer to . some ,of our larger items of export [ separately. : * WOOL. ■' In the^year before las!; the: export of wool showed an increase of £268,044 over the preceding seaso'a; but'lfl&t year this increase has been partially lost, our: exports showing a smaller value by £126,898. This is entirely accounted for bythe lower, priefcs current during the past year, and when we look at the total-value, £4,198,348,-it is really an insigmficaut amount. Fortunx-tely the outlook for the wool market is now better thau it hss beau for some years, and the sales just closed in London have" shown a^substantial rise in all' slusaes of wool. The importance of the wool market to; the. colony can ;hardly^be overestimated when we consider that the exports of this one article show a total of nearly as much as all other exports put together, and; in addition to ; this there,is the large quantity of wool aDnually used up by our, local woollen mills.. ■ ■-, ~ . ..... „*,•,,-. ,■'■ .-. *' ■■ GOLD. ; ■••'■:;. - Our exports of gold during the,last" year show a considerable decrease-r-vlz:, from'£97o 221 to £889,613-a decrease'of. £80.608. .This is rather an unexpected -result when 'we: consider the great aotivity of the gold.mining industry, especially in the northern parts of the colony. It is expected that thjvnew processes employed in gold mining-will/gradually increase the productiveness of our 'mineV; as they have already done to a large'extent in other parts of the world. ~.-."-■ 'ry-'":- ,''-'j'•'' /"' ■ :;■ ":''- ■"' ~'■''■ \'-. kiuEl GUM. ■ ■>■• " The Auckland district has suffered very seyerely-'thrbugh the shrinkage in the value of kauri gum, .which has for many years been one "of its staple exports. Lvst year the value exported fell r from £483,539 to £390,580—a drop .of £92.959. This must have materially . affected trade in that district, and, as it is not .a. trade "which can be looked on as a certain and :. permanent source of-, income, it is very doubtful;whether the ground thus lost can be recovered;,. "V .... . : ':= *Vv"V:; '"':v coal.- ■ ". •■ '. ■.Gar exports; of coal for last year show an increase of £10,547. Thin is all the more satisfactory when we remember that for some years ■ the exports of coal: have been falling off con--Biderably;.;ln: , our-coal fields we have a great source of wealth, which: it should be our aim to develop to the fullest'extant possible. /-' '■'■' timber: '"■.. ;:;, ~- *. In the export of this ; article also thereisa large increase-viz;, £21,533. Oar timber ia just beginning to be known in-the English market, and as the supply of timber diminishes the demand will-continue to increase. .In this connection it is very distressing to seethe prodigal waste and destruction of bur natural forests which is_ continually going od; and the Bma.ll. areas.which_ are being planted to replace this waste. This will in the course of a few years become a question which will force itself upon the notice of the authorities At pre3eat it seeajs to .be , looked- on with a sort of stupid indifference which does ,not do much credit to our capacity for learning from the dearly-bought experience of other countries. . DAIRY PRODUCE. The quantity of butter aud cheesi exported again shows the large increase of £64,658. This is ODe of: the moso hopeful features of our export trade, and, as I mentioned in my address last year,- it is to this we must look in the future for the clo6e and profitable settlement of our lands, a<s farms of small or moderate area can be profitably occupied for, this purpose when grain-growing ...would r , .only' result in,;. loss: Although the prices' of butter and cheese have lately: been^pre^sed is they are now improving, _ and there' is every indication that these colonies can-produce them at prices which will riot pay intihe olderlcouutries of Burope; \ GRAIN. As I anticipated ia. my last address to you, . the export of wheat has fallen off to very small proportions indeed ; the total export last year being only £9100 against £268,744 for the previous year. Ia fact itis feared that the qu*n- I tity of wheat grown in the colony last season will not be sufficient ,for our own wants until nsxt harvest. This has resnlted in a considerable rise in price, bur,,the price of wheat in the colony is now so high,that instead of exporting we may possibly attract imports from other countries. Of oats our export was nearly the same as the previous, year—vjz., £174,263, as against £177,733. I think that our natural advantages for the production of bats of first-rate quality will always enable us to compete successfully with other countries in the growth of this grain.- It is to be rioted with natisf action that there has been a steady rise in the value of oats ior the last few months, and this will help our farmers very materially.. FItOZBK MEAT. Notwithf-tanding the low prices that have ruled recently, the export of frozen meat increased last year from £1,045,707 to £1,295,850, the increase beiog the large sum of £250,143, or nearly 25 percent. ". „..,.„ : .'. ■ . Otner colonies aad countries are going largely into this trade, and the increase in the quantity poured into the ports of Great Britain has been very great. Ooe result of this has been that for gome months prices fell to the lowest point on record; but there- is now a considerable recovery, and the market, seems to be able to absorb all that is being sent. In view of the low prices lately.realised there have been several schemes propounded for patting this trade upon a battsr footing, one of these being a huge scheme involving the amalgamation of the whole trade under one management and a Government guarantee for the money necessary to carry it out, this guarantee to be secured by a special tax on all the sbeepownera iv the coJony. In support of these f chemes many unfounded statements have boen made, especially that the retr.il prices in England are very much higher than the wholesale prices warrant.

On this supposition most of fee proposals are bated. lam prepared to say, from personal observation, that this is not the case, the retail prices generally leave only a small margin for expenseß aud profits, and I am aure that were such a company floated it would speedily wid surely come to grief. I look with cousiderable apprehension on the attempts beiag made by a a large firm already iv the trade to secure a practical monopoly of tbe frozen meat business. I am of opinion that if these attempts are successful a fatal blow will be struok, tot oaly at the interests of our sheep-growers and graziers, but at the general prosperity of the colony. I think that were it possible to get all tho companies in the colony to agree to have the sale of their moat put under the control of one person or firm in England, who would do no otbar business, aud who would be responsible to them for the manage mm!;, we gbi.uld probably have better prices all touud. At present oco or two weak cotisignea'i frt-queuily disorganise the whole market by forcing nalss and unreasonably re-'tucing prices ; and where consignees are interested iv retail shops the temptation to reduce prices ia much intensified.

If wo study to send only really good mutton we need riot fear that we shall nob gab full market value for it. 'The shipments of inferior meat which are sometimes ms.de do a great deal to daaißgo the whole trade and make it more difficult to cocipsbe with tho other exporting countries. Tho experiment recently made in tho shipment of chilled beef by the b.s. Gothic forced. out' a complete auooeas, aDd if meat con be carried in a chilled state and d«iivered fresh iv En^aad st r reasonable coat it will probably be the solution of the whole question. The difficulty 13 .that . frozen meat can be stored for sbuio tima at its destination, chilled meat must bo sold at once on arrival whether the market i 3 favourable or not. . ;. , .SHIPMENT OF LIVE STOCK. The shipment of live etock, both cattle and sheep, to Eogland has in most instances proved Buccewsful so far as showing that they can bo landed in England in good condition ; bat it haa not yet been euccessf ally demonstrated that this oin ba dono on a large scale with profitable results. It will be interesting to watch the results of the large shipments now in progress, and if these are financially suocosdful, no, doubt a considerable trade will develop; We mubt look, however, to the shipment of chilled or frozen meat for the di?posal of,by far the' largest portion of our surplus stock, as even uuder the most favourabla circnnishanqes/the number of-stock carried alive will be comparatively small. - . : : OTAGO. CENTRAL • BAILWAT. So nauchhas baen said and written on this subject that•'l shall not take up. your time further than to say that in view of all the circurDSfcsuces, it is of the utmost importance that .this line should be pushed on rapidly aud com-: pleted to Bweburu whera it would intercept and secure all the traffic to: Maniototo aud Central Obsgo,~ and that whatever help this chamber/can give,, towards that object should be willingly given. \; ■'-■: /':.:, "OMGO.HAHBOUB. ■ It js pleasing.to see that the depth of water, both in the.." lo^er ' and upper harbour, is being maintained, and that our . port is constantly ■■ being visited by the large direct (steamers. It is also, satisfactory to learn that the -rearrangement of the harbour dues, -has (-resulted in a considerable increase in the revenue of the bo»rd,: arid that the difficulties whioh last year threatened the stability ;of -tie hoard's'• finance have beea removed. . ; . ,' ; ■ , '■'■ ' OTAGO DOCK TRUST. I As your reprtSKntsUvo on this body I have attended a number of' its' meetings, and hays lately thought it my duty to oppose a scheme for ■-.: erecting-.^ a 'freezing chamber at Port Chalmers out'of money to bs borrowed on the security'of ths: property of the trust. Under its present aotjthe trust has no power tb'borrow, money for such a purpose, and it is riow'seeking tohave a special act passed to greatly enlarge its powers in this and other directions. In my opinion any spseulntive operations of thw sort are quite outside the functions of the trust, and:it is to bs hoped that Parliamsnt will not allow the proposed bill to pass. V ' ' •:..■.''-. ':''. '" , TABIFF. ■--• .-' ' . There ig-still an uncertainty as to what the Government intend to do in the matter of the tariff, an<3 this is » disturbing demerit in ourl cbintriercial life which it would be well to have set at rest;, A Royal Commission has been travelling 'round the colony taking evidence from all who ohese to give it, and much of the evidence is lindwitood to be of the most crude and'unworkable nature. The cost to th« colony'of■-this commission has been £1700, and *is seems'-generally to be expected that_ their report will not tund much towards elucidating the, subject on which it treats. Agreat'deal of discu^siou has been going on ! about th 3 queitiori of bimetallism, but I am not gome.to tike up your time with any discussion on this matter. I will only say that so far as I hare been able to study th« question I generally agiee with1 the bimetallic view, and hope that inthe near future^ something effectual may be done to place the monetary system of all the great" trading countries of the world on/a uniform basis. .; BANK OF NEW ZEALAHD. ' .;' A prpposal was lately made by the Bank of New Zealand Estates Company to dispose of its.properties by ■■ lottery and application w&o made to Parliament to sanction this proposal. It is greatly to tho credit of the House of Representatives th»t this proposal w*s not even allowed to come before the House in the shape of a bill, but was thrown out by a' large majority on the first reading. ■ ' .-■•'.• It is vow apparent that some other propcsals are bsiug made by which the Government is being urged to' take over a number of these properties, aud so release the bank. This matter will require to be watched very Carefully It is well known that most of tbe properties stand irithe books of the bank at much higher prices than they are worth ta aell, and if the Government is induced on any pretence, to take them over at more than the selling, price it will mean additional borrowing and additional burdens on the already over-taxed people: of the colony. .' ; ■ ; -

GOVERNMENT ADVANCES TO SETTLERS. • While ;thiß chamber h not a-political body, and so does not discuss party questions, the proposals' of the Government as to borrowing money for the purpose of advancing to settlers arid Government purchase of lands were discussed by the committee.and resolutions paswd as shown in the report. The loan of £1,500,000 has bsen issued in London, and, while the terms on which it has been negotiated speak well for the credit of the colony in London, it is quite evident that only a very-small portion of this loan will find its way intothe hands of settlers. The balk of the money will doubtless be found useful for the purposes of Government finance, and will simply be a large addition to the public debt of the colony. : Sevesral of the fctatements recently made by the Colonial Treasurer in London as to the finance of New Zealand—such as the statement that, at the time at which he found it necessary to collect the laud tax four months before the usual date, the colony had £3,000,000 of available unpledged securities ia Loijdoa—were so '.manifestly untrue that they can only be described as financial thimbleriggiDg, and nms!i .in the natural course of events bring the coloay into disrepute and disgrace. jln addressing you last year I said that such a •proposal.as that then made to collect the land tax four :months; in advance of the usual tiina would doimore to shake confidence, disarrange finance, and .displace'labour than the authors of the proposal could even conjecture. I think that the present' Want of confidence and lack of enterprise, together with fee present state of the labour market, all bear striking testimony to the accuracy of this statement. BECIPROCITJT TREATY ''WITH SOUTH AUSTIULI4. Too resolutions-passed by: the committee in reference to the proposed' reciprocal treaty with South Australia will, I hope, meet wita yoor approval^ It seems to me self-evident that a treaty of this nature mads with ona of the. Australian colonies, and by which we deprive ourselves of the right of making similar tessties with the larger and more important colonies of Australia, will not conduce either to oar own prosperity or to the promotion of general I colouial reciprocity, which I trice to ba the universal desire of our merchants and traders. CUSTOMS IiETOKNS. Tha delay by the Government in bringing down the financial returns for the quarter ending 31st March last deprives us of the me&ss of comparing the colonial revenue of last year with those of preceding years. I think we should express our strong disapprobation of the conr-e pursued in this matter. Bylaw these returns ought to have been published some time ago, and the fact of their being kept bick for political purposes is not at all credisablo to those who are responsible for the delay. CONCLUSION. In conclusion, I would deprecate any pesßimiatic views as to the future of the colony. We have a country unsurpassed in climate, soil, and »il other conditions necessary for tha maintaining of a large population in health and comfort; a»d although we have been passing through trying and troublous times we shall be none the worse of having learned the Isssoas of adversity, and shall for the future be more likely to avoid the causes which have brought so much trouble and dimstor upon us. In retiring from the office of president I wish to give my sincere thanks to the members of the chamber and committee for the coraial aud kindly way in which they have always supported me during the two years in which I have bad the honour of occupying this chair, and •while quite aware of my many omissions and defects, I venture to hops that the various matters in which we have bean jointly engaged hare not been entirely without benefit to tie trading community of Duaedin. Mr &. L. Drnni9ton seconded the motion for the adoption of the report. In doing so he said he thought that the subjects that had engaged the attention of the committee during the year had been practical, common-sense snbjeets; and that with most, or all, of the conclusions they had arrived at the chamber would agree. It was also satisfactory to know that many of the recommendations the coninnttea niedo to the Gowrcment had hsea given effect to, whiah showed that the chamber was hot without it 3 uses. It would be an extraordinary thing if the Government of the day did not pay attention to the recommendations of the Chaoabsr of Commerce in one of the principal town* of New Zealand. He thought that the GovcrtiEaanS ought to look to chambers of commerce for advice, for, after all, they were what might be termed fche parliament of trade, They were com posed of mon who were presumed to have judgment and experience, &nd their recommendations ought to guida the Government of tlia day in oil commercial matters. He thought the president was right ia faking a hopeful view of the fufcore of the colony. There wan no doubt that the cloud which hud bsen banging over v* for bo long had removed somewhat, »r.<3 the pricss of many of our leading products had advacetd; an<3 we could only hope and pray that this state (if things would ba permanent. Tho increased prices we were getting for our products would cunse money Co circulate and give I re'ief to the struggling classes, and the confl-

deace it would beget would have a good moral effect, as it was lack of confidence that had. depreased us so long. He hoped the oommittea would be abls to msst the chamber six mpuUis hence.with even a moro hopoful acoount of our pcoapeots th&a tho president had bsen able to give.— (Applause.)

Mr J. M. RiTCffiE had much pleasure in supporting the motion for the adoption of the report. As an old m«ra'"er of the committee ' be was pleased to see t.*Ut the cbambsr had : been an active body during the past 12 mouths, j He was quite eware of the difficuitica which | existed in keeping up an interest in many j subjects which were dry perhaps, but he was j satisfied to find so much had been dono, whether ! they agree;!, with all the conc-lusior.s tbe com- | mittee had arrived at or not. He thought it ' would b3 a i;rflat pity to see a body' like the Chamber of Coamrmrcw falling into a moribund state, aud it was only by the community taking an intersst in is and becoming membsris of it that it would be fchocoughly efficient. He j agreed with most of the retnarka in the chair- I man's speech, aud he was inclined to think that bis hopefulness was not unjustifiable. He thought thtsy might fairly look forward to a batter state of tilings than had existed in the past. He might call attention to one or two points ia the chairman's speecn which struck /him as being worthy of remark; One point was the proposal of the Dock' Trust to 'erect a frozen meat chamber at Port Chalmers. He entirely agreed with' the views expressed by Mr Begg iv this re3pect. It was beyond the functions of tbe trust that thsy should erect tucU a chamber, and it was unnecessary that they should spand money in that direction. The whole matter was one for private eLtarprije, and it was a queatioa to his mind whether the whole business of the Dock Trust should not be placed in the hands of the Harbour Board. They were the proper people to look after the dock.—;(Heßr, hear.) With regard to the shipment of live stock, it might bo interesting to the chamber to know that reports and returns had been received of n, shipment i Home of 250 «heep, and he thought they showed that there' was nothing in that business at present, nor was there likely to be in tbefuture. The outcome of the sale if 250 fat sheep gave fully better prices than could ba got in the colony—they netted 13s 6d,—but 'there was only 10s of freight, which was an inadequate rate. It would be impossible supposing the ship was full to carry them.at that rate. The expensts were enormous. This they could understand when he told them that the sheep averaged ' from 44s to 45s at Home,' yet all they got was 13s 6d. With regard to ;the frozen meat trade he was of opinion that there was a great de*l in what the chtirman had said, but he thought that competition at Home would do all that was required, aud T would obviate any - necessity for a combination or an attempt to distribute in any parfcicularway. The business was.well looked after.at Home. There were any number of people ready to go into it, and he thought it could be fairly left" to itself: There was one important consideration, however, which must not be forgotten, and that was the sending House of inferior meat from the colony. He had evidence that such a thing had been done. Inferior sheep had gone Home, and the reputation of the whole" of the sheep in the .colony had been injured in consequtnes. The. oniy consolation, if it conld be considered a consolation, was that the sheep left a miserable return to those who sent them, and they would have brought more if they had been boiled down in the colony. He did not qnite agree' with Mr Begg in hii remarks upon, ths reciprocal treaty with South Australia. The effects of tha treaty indicated by the chairman would probably never take place, and it seemedto him that reciprocity between tha colonies was a subject of each overbearing importance that they ought to ba very thankful evea.if they got a very small instalment. No matter if there were some small drawbacks to it, he was inclined to agree with Mr Ward in seizing the opportunity for mating a reaiprocal treaty with South Australia, because the colony need not be bound to it for ever. If it did nob suit it could be brought to au end. However, he regarded it as the beginning of; whit ought to be aimed at— viz., a reciprocal treaty between the wholeof the Auatraiaßian colooics.'1 There was one other matferto which-he wished to make reference. He regarded with intense satisfaction the result of the. elections in New South Wales, if only for too rfacs that it showed that Breetrade principles' wtre /in- the, ascendant. 'It was all the: mote significant when it. was considered that New SiraCb. V/ales was "sandwiched" between the two P;oteotion ooloniea of Victoria and Qaeansland, because one might' have expected' that the usual argumeiit that "you are sacrificicg youwelf for the bsnefit of- all your neighbours" wouldhave been advaoced, and have had a very different j effect to what h»d really takea pla«a, but the j resnlt of the elections snowed that the colony had a high appreciation of what was sound and proper in fiscal legislation, and bad sw.eptaway the ide* of. Protection in the meantime,, with Ithe result that New South Wales would posses 3 as much Preetrade as any country in the world, not excepting England. ,-He hoped it woild have a due effect oa all the neighbouring colonies, including ourselves. • . The motion for the adoption of the report was then put arid carried.' ■ - ; OFFICE-BEARERS. . The ;followin'}; office-bearers were elected : unanimously :—President, Mr Walter Gow ; vice-president, Mr P. R. Sargood ; members'of committee—Messrs T. R. Fisher, K. Ramsay, J. T. Mackerras, A, C. Begg, and J. M. Gallaway. : . . ... ... COMELIMENTA&Y. Mr J. T. Slackerkas • I don't think we should separate without proposing a hearty vote of thanks to tha chairman, not only for his able conduct as president of the ehainbec during the past two years, bat also for his able and interesting address. I beg to move a vote of thanks to tho retiring president. •'■■> 1 The motion was carried by accl&m&tion. The CH4IKMAN: I am very much obliged to you for p&Sßicg the vote of thanks. I have dona my best aad I am gliid to have given satisfaction. As a member of the committee I will continue to do what I can in the interests of the ohamber. lam satisfied that our new president will fill the chair in a worthy manner.— f Applause.)

Trie proceedings then terminated,