Quarterly Meeting.

Star (Christchurch), Issue 4579, 27 February 1893, Page 3

Quarterly Meeting.

THIS DAT. The quarterly meeting of the Canterbury Chamber of Commerce, was held this afternoon, at three o'clock. , There were about, twenty members present, and the President, Mr E. J3. Harley, occupied the chair. Apologies were received from Messrs W. Chrystall.N. W.Edwards, Gilbert Anderson and W. Devonian Meares. Mr C. Thornton Dudley was unanimously elected a member of the Chamber. committee's bepobt. The Committea'areport was as follows :— "Your Committee has nothing special to bring under the notice of members ; it has merely to record that during the past quarter its meetings have been well attended, and various matters have been dealt with. Amongst others, "Exchange on Cheques. — At the request of the Farmers' and Country Settlers' League, the Railway Commie* Burners were approached with a view to obtaining a remission of this charge on cheques passing to and from the Bail way Department in the country districts. The reply received, however, was that thn Commissioners could afford no relief as the charge was made in terms of an arrangement existing between the Treasury and the Bank of New Zealand. "Lyttelton Harbour Board.— Nominations for representatives to this body were received on Feb. 6, when, the Hon J. T. Peacock and Mr Isaac Gibbs (former representatives) being the only names submitted, these gentlemen were declared duly elected. . "Cable Rates.— The reduced tariff came into operation on Jan. 1, and it is'satis* factory fco learn from the Hon the Post- | master-General that results for the first : month have exceeded anticipations, and , fully justify the large concessions made." : chairman's statement. i c The President, Mr E. S. Harley, said — With your pet mission T will oftWa few remarks on matters of general interest to f tue commercial community. The harvest is now well nigh completed, and farmers are to be congratulated on their good for-

tune in having secured their crops in ench exoellent condition. The market haa opened at an exceptionally low level, _ nt prices in Europe and America do net seem to warrant operators in giving more, though freights are abnormally low. The large stocks of wheat and flour in England, in conjunction with the enormous visible supply of 106,000,000 bushels in the United States, and the unprecedented!? low freights offering in San Francisco, afford ns no hope that prices wih rally in Europe for some months to come/and I can quite understand the dilemma farmers are placed in to decide whether to sell at current prices or to risk shipment to Europe. As a mild set-off against the unsati. faotory results of wheat growing this year, farmers are doing well by their stock— a circumstance due entirely to the stability of the frozen meat market j and, so long as the freezing Companies rigidly adhere to a strict system of grading for quality and weight, believe that we shall continue to enjoy the cream of this trade. There ha 3 recently been furnished a statement sbowir g the quautity of Btook which has pa Bed through the Belfast works during the patt t_n years, and the remarkable saving in charges effected during the same period. The figures displayed must be alike gratifying to the general pablio as to ihe share- I holders and exporters. Our position in : this trade has hitherto been unassailable, and I have no fear of Canterbury losing its Bupremaoy, as everyone connected with the industry recognises the importance, nay, necessity, of our conserving the repu- ' tation bo deservedly won for this district by the pioneer Compauy. Manyohangea havebeen experienced during the decade of its existence, notably the preference of consumers for light carcase mutton, say 521 b to 581 b, instead of the large sheep weighing 201 b more. Now that grading " can be relied on, forward business is more feasible, and it is satisfactory to learn that Bales on o.i.f. terms are steadily increasing. We cannot shut our eyes to the fact that Australia will Bhortly become an important competitor with us in this trade, but I doubt if their shipments will affect the value of onr prime brands any more than Dutch mutton affects the quotations of prime Scotch in the London market. Since last addressing you Australian ports have been opened to the introduction of New Zealand sheep, which will ultimately prove a boon to our breeders of pure Btock. Some disappointment has been experienced because a sudden demand has not arisen for long-woolled rams. I would remind breeders that the Australian season does not correspond with that in New Zealand, besides which our sheep have yet to be known and approved on the other side. The wool season may be said to have terminated with tbe sales held last week, and, all things considered, it haa been a satisfactory one to all concerned. The quantity offered and sold locally has been larger than in any previous season, the figures being :— Christchurch wool sales — Bales offered 23.754, bales sold 19,518, whilst the figures for' the Colony are — Bales offered 91,809; bales sold 74,985. These figures compare with saleß in Sydney —340,000 bales; Melbourne— 293,6Bs bales. The average price realised in Christchnrch was .89 lis per bale; a veiy fa : r average indeed, considering that the bulk of onr choice clips, especially merino, are not offered in this market. Members will have noticed that strenuous efforts are being made to relieve the agricultural distress at Home. At a large meeting cf delegates, representing landlords and tenants from all parts of the United Kingdom, proposals were submitted recommending the imposition of duties pn produce from foreign countries, bnt exempting the produots of the Colonies on condition that they reciprocate by a slight remission of duties on British manufactures. Whether such a question comes within the region of practical Solitics in these days is doubtful, bnt I aye no hesitation in affirming that snoh a reciprocity wonld be to the manifest advantage of this Colony. It is not oqly in England that reciprocity in Customs' tariffs is reoeiving attention, for we learn that the Melbourne Chamber of Commerce has taken the initiative in advocating reciprocal tariffs among the several Colonies within this group, and when dealing with the question of Oolonial Federation an able writer bas penned the following pithy lines:— "The first move towards federation will come when two or more Colonies agree upon a common tariff with free interchange of products." And, I think, most of us will agree with him that this is the first stepping stone to federation. lam gratified to be able to report that trade generally is in a sound condition; also that transactions are conducted on legitimate lineß. There is, of course, -the usual keen competition, but in most items of import there is a fair profit. Credit is sound, bad debts being few, and of trivial importance. I cannot conclude these remarks without a reference to the appalling calamity which haß befallen our brothers ih the^Bieter Colony of Queensland, by its unprecedented floods. The deplorable loss of life, the dire distress and suffering, to say nothing of the enormous destruction of property, have moved the hearts ofall, and I trust practical sympathy will be shown by a liberal response to the appeal now being made in Christehnroh 1 for succour in aid of the sufferers." (Applause.) , This concluded the business.