United States. Dept. of Commerce and Labor United States. Bureau of Foreign Commerce.

Consular reports, Issues 196-199 online

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Pctrticuiars of money owing by me secured on registered mortgage and any amount owing
by me on iand purchased on time or deferred payment.

Person to whom the money is owing.

Amount of

Amount owing

on vist March,

xVj/b^ not includ-

mg interest.






Note. — In the case of mortgagees who are not resident in New Zealand, the names and addresses of their
agents should also be stated.

Particulars of land owned by me.



Local district or

or lease-

No. of section or

Street or partic-
ular locality.







Note. — The unimproved value of each property should be shown separately; in the case of leased proper-
ties, the owner's or leaseholder's interest in the land should be stated.

Returns from Gold-Mining Companies.

All Letters, &c., should be ad-
dressed "The Commissioner of
Taxes, Wellington," and not to
any name. Letters so addressed
go free by post.

Form G.

gold-mining COMPANY.

In pursuance of the above act, and of the regulations made thereunder, every company in
receipt of income within the meaning of the said act is required to fill up the following return
as far as is applicable to its particular case, and deliver the same at, or forward it by post to,
the office of the commissioner of taxes, Wellington, on or before 1st day of July, 1896.

J Commissioner of Taxes.

Note. — Any company failing or neglecting to furnish a return at the prescribed time or any company
making a false return is liable to a penalty of not less than £,<, or more than £,\oo and to pay treble extra

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Name of company in full :
Postal address :

made in pursuance of "the land and income assessment act, 1891/' and its amendments and
the regulations thereunder.

Dividends paid during the year ending 31st March, 1896: £ .

I, , being the duly appointed public officer of the above-named company, and in

that capacity duly authorized to make the above return, do solemnly and sincerely declare that

I am well acquainted with the aBairs of the said company, and that the said return contains

a true and accurate statement of the dividends paid by the company for the year ending the

3i5t March, 1896; and that a copy of a balance sheet hereto attached is a true copy of

the balance sheet of the said company issued to shareholders, or prepared for issue, last prior

to the date of this return.

Dated this day of , 1896.

[Usual signature :] .


Return of the income received or receivable for the year ending the 31st March, 1896,

by the holders of debentures issued by the Company, Limited, in respect of money

borrowed on debentures by the company : £ .

I, , being the duly appointed public officer of the above-named company, and in

that capacity duly authorized to make the above return, do solemnly and sincerely declare
that I am well acquainted with the affairs of the said company, and that the said return con-
tains a true and accurate statement of the income for the year ending the 31st March, 1896,
of the debenture holders in respect of money lent to the said company on debentures.

Dated this day of , 1896.

[Usual signature:] .

Statement to be made by Government departments, local authorities , persons, firms, companies,
and societies employing officers, managers, travelers, clerks, foremen, workmen, servants,
and others in New Zealand, whether paid by salary, weekly wage, or otherwise.



Name in full.

In what capacity em-

Place of residence.

Amount of pay re-
ceived, including sal-
ary, wages, bonus,
commissions, and

In the case of any person the total payment to whom does not exceed £,\to a year, an entry need not be made.




Name in full.

In what capacity em-


Amount of foes, sal-
ary, bonus, etc.

All amounts should be entered in this list.

If there should not be sufficient space in either of the above forms, a sheet giving the required informa-
tion may be attached.

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Statement of Income for a Business, Manufacturing, or Trading Concern.

NoTB. — This may be taken for twdve months endhtg at date of stock taking or annual balance nearest to
31st Blarch, 1894.


Name in full : .

Postal address : .

Occupation : .

For the year ending : .

Sales for twelve months ending at date of stock taking (include goods
supplied for proprietor's own use and goods used in the business or

upon buildings, plant, fixtures, etc.)

Stock in hand at date of stock taking on expiry of the twelve months..

Leas : Stock in hand at the commencement of the twelve months

Purchases for twelve months ending at date of stock taking (nt

cost laid down on the premises)... ,

Labor and materials used in manu&cttires

Other income from business, viz, commissions, etc. :

Gross income

Deduct ions from gross income.

Salaries and wages (not to include any sums drawn by proprietors) .......

Rent (include only rent of premises or portion of premises used exclu-
sively for the purposes of the business) ,

Insurance (on business premises and stock only)

Rates on business premises (not to include payments for land or income
tax) ,

Interest, exchange, and discounts allowed, less amounts received ,

Printing, stationery, advertising, stamps, and telegrams.. ,

Traveling expenses, incurred in the business only

Repairs or maintenance (not to include additions or improvements to
property or plant)..

Sundry petty expenses, incurred in the business only

Bad debts (to include those proved to be bad during the year and actu-
ally written off, and no others)^ ,

Other items:

Total deductions ^




[Signature:] ■


So far as my observation has served me, I am convinced it is almost use-
less for United States exporters to continue to send out pamphlets, circulars,
price lists, in fact, literature of any kind, and expect practical results to
follow. The foreign importer rarely looks at such literature, and if he does,
it is only, in nine times out of ten, to throw all such matter into the waste
basket. I do not say this happens in every instance, but I am convinced
very little trade follows such efforts.

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Send competent, intelligent, experienced business men of good address
and presence, with samples and price lists, with liberty to make concessions
when circumstances arise which render such a course necessary, and I am
satisfied an increase of trade will follow a liberal and intelligent effort of this
kind. I have made it my business to interview and converse with most of
the wholesale men in this city and many of the principal retail merchants
on the subject of personal representation versus ** trade circulars and litera-
ture '* as the best agency for the extension of trade, and all unhesitatingly
confirm my theory that one practical man, with a thorough knowledge of his
work, going through the colony with samples and price lists for about two
or three months in the year is worth more to our commerce than all the
trade literature that might be dumped in here for five years. It requires no
stretch of imagination to see the force of my argument as to what a man can
accomplish by being present with his wares and prepared to explain matters
to an intending customer with whom he has had some social intercourse, some
agreeable conversation, and an interchange of ideas generally, as compared
with the cold facts as set forth in some pamphlet or circular. I am certain
all who have given the matter any thought will agree with the foregoing sug-
gestions, especially if they have had any experience with foreign buyers.
Once a man has succeeded in placing an order with a new purchaser, both
the agent and the firm he represents should deal honorably and fairly with
their new customer, as otherwise there can be no continuance of trade or
confidence. One shady transaction perpetrated upon the foreign importer
does more injury to our foreign trader than I could attempt to paint here.
No amount of explanation or expressions of regret will restore that confidence
which is so essential to continued friendship and mutual business relations.


It is useless for manufacturers and exporters to dogmatically insist that
they are offering a superior article, and that, therefore, the foreign consumers
are bound to buy their goods. A more grievous error than this it is difficult
to imagine. Let us take, for example, a certain firm's felt hats; I do not
believe the best salesn>an in the world could sell a gross of these hats in this
country, not so much because they are dearer (although that is, of course, a
serious drawback) as it is that the people are not accustomed to wear them.
I merely mention this one article to illustrate the point I am endeavoring to
make. Therefore, in my judgment, what is necessary to overcome this dif-
ficulty is to adopt the same means as other manufacturing nations, viz, by
making an intelligent effort to manufacture articles specially suitable to the
habits, customs, and tastes of the people in shape, price, and quality. This
is how the Germans have succeeded in building up a large trade with these
colonies, even in the face of the keenest competition on the part of English
goods and the natural sympathies of the colonists for English manufactures.

Those who do not cater to the taste of their customers can not expect to
build up a trade, and even if they succeed temporarily, it is unreasonable
to presume that they could continue to do so unless they paid due attention to

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the peculiar requirements of such customers. If, then, our manufacturers
are desirous of increasing their export trade, let them send out intelligent
representatives who have a special knowledge of their work — men who will
be capable of judging, men of technical abilities and practical experience,
who will note prices, processes of manufacture, and quality of material, tak-
ing samples of manufactured articles, also of raw and unmanufactured ma-
terials. Such a man, if he be well informed, will soon determine whether
he could compete with those who are now supplying the people's wants. In
proof of this, I need only state what is happening in this colony at present.
It is a well-known fact that goods which find a ready sale — I am speaking
now of dry goods more particularly — in the large centers of population in
this colony, can not be disposed of at all in other parts, the principal reason
being the difference in climate. In Dunedin, for instance, which is the prin-
cipal southern city, the people will not have the same material in their wares
as those living in the northern metropolis (Auckland), the reason being that
Ehinedin is pretty cold in the winter time, while in Auckland it is mild and
pleasant. But, notwithstanding the difference in climate and the frequent
representations made by wholesale and retail business people, the manufac-
turers, with dogged persistence and indifference, continued to disregard the
warning voices and admonitions of their agents and customers. Now, how-
ever, they are brought face to face with the stern realities of the situation.

German agents have made several trips through this country, inspecting
the stocks and prices of the wholesale and retail houses, and taking numerous
samples with them of such articles as found ready sale in the different com-
munities and were regarded as being useful and popular. These articles
were copied carefully, and, in some instances, improved upon, and offered
at less cost than the people had been in the habit of paying for them, and,
of course, with the natural result that a large percentage of that trade now
finds its way to Germany to the serious detriment of the English houses and
all other competitors. Yet people marvel at the extraordinary extension
and activity of German foreign commerce. Is it any wonder, when such
systematic and practical methods are pursued? Talk will not expand our
trade ; we must have more practical effort. We must assist our merchant
marine, and we must manufacture articles to suit the requirements of those
to whom we desire to sell. Of what use is it to tell a man, ** This is a better
article than you have been accustomed to," when the reply is, '* It may be,
but it does not suit my taste; consequently, I will not buy it?**

I might write pages on this feature of the subject, but I think I have
written sufficient to demonstrate the necessity, or at least the desirability, of
pursuing more liberal and more united methods for the expansion of our
foreign commerce than we have hitherto done. I am, of course, aware of the
view the manufacturers will, in most instances, take of these suggestions.
They will urge that they can not increase or change their plant to meet the
peculiar tastes and requirements of every country; that, to do so, would cost
more money than the trade is worth, etc. I admit the force of the argument

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if they do not look beyond the present, but it is illogical if they hope to
build up an outside trade. England did not succeed in building up her
immense and incomparable commercial intercourse with the nations of the
world without making great sacrifices, both national and individual. But,
notwithstanding this, where the prospects warranted it, her people persevered,
incurring losses and endeavoring to suit tastes until they succeeded in estab-
lishing themselves, and when once a Britisher has accomplished this, all who
have tried have found him extremely difficult to dislodge. If other nations
are so anxious to increase their export trade by such means as I have de-
scribed, surely we are in a position to do equally as much in the same
direction. It may cost considerable money and time to commence with,
yet it should not be so expensive if we take into consideration the intelligence
of the average American merchant and workman. But admitting, for argu-
ment's sake, that it is necessary to spend money in gaining a thorough
knowledge of the requirements of the people with a view to establishing
trade with them, it will ultimately result in a large and permanent increase
in our foreign trade. What if it does cost a little extra, it will all come back

It may be well, in some instances, for two or three branches of trade to
combine with a view to minimize the expense, provided always the repre-
sentative sent has the practical and technical knowledge required. One
dollar so expended is worth, in my opinion, more in obtaining practical and
useful information than all the pamphlets, circulars, and trade literature
generally that can be sent out of the United States during the next six months.

There is just one more matter to which I desire to refer, namely, the ex-
change between New Zealand and New York. A large wholesale and man-
ufacturing stationer here (whose principals are in Glasgow) ordered a supply
of goods from New York. The New York firm drew on their New Zealand
customer at ninety days, and in remitting the amount of the draft to New
York, it cost the New Zealander at the rate of 4^ per cent, whereas if the
New York firm had taken payment in London it would have cost only three-
fourths of I per cent. It must be apparent to all that such expense in the
way of exchange is ruinous ; indeed, it is almost prohibitive, and yet, this
wholesale merchant informed me that he made a greater profit on the goods
than if he had purchased them in London, because of their superiority. You
will easily see liow difficult it is for our people to compete with a nation like
England under such circumstances, and when we do successfully compete,
it is because of the superior excellence of our goods. If we can compete
under such adverse conditions, are we not justified in putting forth every
legitimate and intelligent effort in our power to improve our position?

I certainly feel it my duty to invite attention to this particular barrier
against the extension of our commerce in these seas, and the cooperation of
business interests in the United States in removing a most serious drawback
to American export trade with Australasia. If payment could be made in
London, it must tend to increase trade and give the importers more profit,

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which means more encouragement to buy from us and thereby largely in-
crease the volume of our foreign business.

All trade circulars should designate some banker to whom money could
be forwarded from foreign countries in payment of goods ordered. Also,
when an intending customer sends a letter from a reputable local banker that
the would-be purchaser is in good standing from a commercial point of view
and capable of paying for the goods he has ordered, it is invariably safe to
fill such order and draw upon the customer in the ordinary way for the cost
of the goods. The observance of this rule will result in great convenience
to the foreign importer and advantage to the American exporter.

Another matter to which I desire to direct attention is that the New Zea-
land Government has imposed a tax of ^250 on all commercial travelers
representing foreign houses in the colony. This must be paid before they
are permitted to solicit trade.

I would suggest that United States consulates be supplied with directories
of the principal cities of the United States. Every consular officer will testify
to the convenience which a directory of many of the principal business
centers would prove to him when plied with questions and inquiries relative
to business houses, etc. In any case, a directory of New York and San
Francisco is extremely necessary for the convenience of this office. Other
consulates will no doubt request the directories of other cities.


Auckland, July p, i8g6. Consul.


The numerous inquiries from the United States regarding the banking
facilities of Australasia and the methods by which these great financial con-
cerns are carried on, indicate a considerable interest in that question among
our people and I have been at no little pains to study it in order that I might
give some information on the subject. However, as I am not a banker, I
appealed to a friend, Mr. Robert Osbiston, who is an expert in the practical
operations of banking, to aid me in placing the subject in a clear light before
our people. Mr. Osbiston has had a long experience in the banks of London,
and is now editor of the journal of the Institute of Bankers of Sydney,
called the Banker's Magazine. I think I shall better perform my duty by
inclosing, without alteration, the following statement prepared at my request
by Mr. Osbiston, and just received from that gentleman :


Exclusire of the savings banks, there are thirteen proprietary banks doing business in
New Soath Wales, of which four have their chief offices in Sydney, Ave in the other Austra-
lian colonies, and four in Lx>ndon. The branches of these banks in this colony number.

No. 196 7.

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other than mere agencies, 442, viz : Ix>cal banks, 342; intercolonial, 7; and Anglo- Australian,
93. The thirteen banks are :

Local [with chief offices in Sydney). — Bank of New South Wales,* incor]K>rated under
special act, 1850; Commercial Banking Company of Sj^dney, Limited,* and Australian Joint
Stock Bank, Limited,* incorporated under New South Wales companies act, 1874; City
Bank of Sydney, incorporated under special act, 1864.

Intercolonial {with chief offices in other colonies). — Commercial Bank of Australia,
Limited, and National Bank of Australasia, Limited, incorporated under Victorian companies
act, 1890; Queensland National Bank, Limited, and Bank of North Queensland, Limited,
incorporated under Queensland companies act, 1863; Bank of New Zealand, incorporated
under special act, 1861.

Anglo- Australian {with chief offices in London), — Bank of Australasia, incorporated
under royal charter, 1835; Union Bank of Australia, Limited, incorporated under English
companies act, 1 862-1 879; London Bank of Australia, Limited, and English, Scottish, and
Australian Bank, Limited, incorporated under English companies act, 1 862-1 890.

In addition to the above-named banks, the Comptoir National d'Escompte de Paris, a
very large French institution, with its chief office in Paris, has a branch in Sydney, as has
also the Cheque Bank, Limited.

The capital arrangements of the thirteen banks are mostly in a transitionary state, a con-
siderable amount being still in process of being called up. The average amount of capital
called up, however, was returned at the 31st of December, 1895, ** ;f 19,801,759. This
amount varies from day to day, and is, moreover, so interwoven with the neighboring colonies
and England, where the banks do business, as to form no reliable indication of the actual
volume of banking capital hypothecated to this colony. The dividends distributed are in
some cases only to preferential shareholders and in others the dividend is passed altogether.
The Bank of New South Wales, within the twelve months antecedent to the last return, paid
9 per cent, the Commercial Banking Company of Sydney 8 per cent, the Bank of Austral-
asia 5 per cent, the Union Bank 5 per cent, the Australian Joint Stock Bank 4 per cent, the
City Bank 5 per cent, and the Queensland National Bank 3 per cent.

Under the provbions of a local banking law, the "banks of issue" (the group of thirteen
institutions before referred to) are required to furnish quarterly sworn returns of business
done actually within the colony of New South Wales. The returns thus furnished are to
represent the average liabilities and assets for the period with which they deal. These aver-
ages are based on the weekly accounts, and include various headings, of which the notes in
circulation, the deposits, the discounts and other advances, and the coin and bullion held are
the most important. These different headings are taken seriatim herein as showing the
totals sworn to at the quarter ended 31st of December, 1 895.

' Azotes in circulation. — The only bank of the thirteen named above having no issue of
notes in New South Wales is the Queensland National. The total circulation of the remain-
ing twelve was /i, 223,864. In New South Wales, the bank note has a powerful hold upon
the masses — it is generally preferred to sovereigns, and the circulation of the banks may be
taken as a de facto absorption by the masses. This country would readily employ bank notes
of a lower denomination than ;f i, the present minimum. The average circulation is at pres-
ent subject to a Government duty of 2 per cent. A feature of the Australasian bank-note
issues is their gradual diminution, a result probably due to the great and unusual facilities
afforded by the banks for the opening of petty accounts and the consequent extension of the
check system.

Deposits. — The returns, at the period stated, quoted the total of deposits held as ;£"30,o85,4o6,
of which jf 10,222,436 were not bearing interest and ^19,862,970 wert bearing interest. A
noteworthy movement, with regard to these two classes of deposits, has been strongly in

* These banks, as well as some of the intercolonial and Anglo- Australian iustitutions, are in reality of a
far more remote origin than the periods indicated by their present incorporation, the Bank of New SoUih
Wales, for instance, having enjoyed an tmbroken record of nearly eighty years.

Online LibraryUnited States. Dept. of Commerce and Labor United States. Bureau of Foreign CommerceConsular reports, Issues 196-199 → online text (page 15 of 82)