The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-01-11

by the cheaper freights which they will ode
in consequence of their great coal trade New York by
the cheaper reights which she will continue to offer t.
! Europe
The cheaper the reighs are at anv citv so much NOR
can she pay for agricultural purpose.
Our greatest safeguard is the controlling power of th
City and State in the Board of the Baltimore and 0h
Railroad and when all the directors who represent thu
public interest intelligent and faithful such wrongs
as those of which we complain will be prevented
redressed stakeholder interest, which is but TEN
porary, may be benefited by a policy injurious tc
the community and to the road. The in terest o
with that of their citizens Therefore it become:
US to oppose all attempts to dispose of the State and City
stock 1t has been proposed to give away the stock
the State for certain purposes it would be better to
propriac ten times the amount in money We should
part with share Of the public stock any terms il
would be better, if practicable, increase the amount
held and to strengthen the State City in the
Board and thus provide against the consequences of
| casiona absence or detection of members.
Another branch of this project deprive the and
City of the controlling the proposed issue of dv
taton that influences will be brought bear upon the
City Councils to induce them to sell such scrip which may
then be converted into private stock
If the State and City part with their control in the
Board they may well be entirely unrepresented In
this event, what would be condition? We
would be at the mercy of combinations of stock
ators rival corporations For instance the Phadel
phia and Wilmington, and the Camden and Amboy Rail
road Companies by the judcious expenditure
rate amount of money might purchase control of tn,
Baltimore and Ohio Railroad. wherein millions Balti
more capital have been expended which has cost thirty
years of labor anxiety and taxation-and by shor
route outside of the city limits carry the trade around
ana leave Baltimore for ever waySide village The
| route to Philadelphia and New York.
JOHN s. WILLIAMS.
A motion made that the report be adopted
when
G. d. Kinks said that he wished to ask question
| before the vote be taken. He had understood tha
the Board in renting the present premises had
rented them on terms not advantageous to the Ex
change. There was outside rumor that this prop
erty had been leased on the condition that it was
to be occupied for the term of two years by tn,
Corn Exchange, and in the event of the Exchange
being removed before the expiration of the lease
| the keys were to be handed to the owner; the Elk
change was to be responsible for the rent, but haC
no power to suitcase the premises to other persons
! for different purposes. He would inquire of the
| Board whether this rumor was correct and he
| deemed an answer very important at this jucture
As regards the Hooking Valley road, referred to by
the report it was nothing, as yet, but paper rail
| road.
The President-Gentlemen of the Corn Ex
change -
b. F. Franklin-Mr. President object to some
| portions of the report and --
The President-It has been moved and seconded
that the report be adopted. interrupted by Mr..
! b. +. Franklin, who attempts to be heard.) Those
IN favor OF its adoption will say aye, those opposed
| nay. Report adopted amid stamping of feet.
| e. ID. Hinks-Mr President, | do not like this
| choking off system. | have the right to speak.
voice.-This is meeting for special business,
and not one for discussion.
! MIR. Hnks-Thc report should not have been
| adopted in the manner in which it was. Had the
gentleman moved its acceptance merely, and its
| adoption, the speaker would have had nothing to
! say; but when the motion made to adopt, it
was debatabe and the previous question should not
| have been called.
Mr.. Geo. Kyle moved that 500 copies of the re-
port be printed for the use of the members.
Mr.. &. ID. Hinks.-Is that motion debateabe?
The motion carried.
Mr.. Geo. kye.-1f the gentleman will permit me
| ] will explain. There is no agreement as regards
the renting of this building. The executive COM
mittee have never entered into any contract with
! the proprietors, and the Corn Exchange is merely
| here as yearly tenant. There is a verbal under
standing between the parties but lease, and the
Corn Exchange can vacate the building at the expi
ration OF the year, by giving the proper notice OF
ninety days
| B. F. Franklin.-Then an honorable verbal agree
| ment is not binding.
! Mr.. Kyle.-There is no agreement. The Board
never acted on the proposition of the propretors.
! Mr.. Franklin asked that that portion of the re-
port referring to the occupancy of the building be
| read.
Mr.. Williams reads that portion of the report
| and remarked that there was no agreement entered
into as regards the leasing of the present premises,
| and the Board have never acted in the matter.
The Corn Exchange occupied their present place of
| meeting without any contract binding them for
| certain length of time.
| Mr.. c. d. Hnks-I received my information as
regards the character of the occupancy from Mr..
| Kyle, and must say that think that gentleman
mind has changed very much on this subject since
last conversed with him. When he told me, de-
termined to sift this matter to the bottom. | went
to Mr.. McConley's and there read the letter which
had been written to the Board of Corn Exchange.
proposing the lease of the buildings and the condi-
| tions were similar to those mentioned by Mr.. KYLE.
| Mr.. Kinks said that he was there informed that
that letter had been the basis of the action of the
Board. Now, said he, what right had the Board
to bind the members of the Corn Exchange to re-
main in the occupancy of the present building after
the members had, by a large vote, declared that
they wOuld he hoe a5 re
powers in making this contract, and they have re-
flected on the members of the Corn Exchange. Be
sides, he thought that the of the property
were not entitled to great consideration from the
fact that previous to July they had placed notices
on the advertising and bulletin boards, warning
the body to vacate the premises
Mr.. Williams.-The gentleman is mistaken; had
those notices placed there, thinking it the best
manner of informing the members of the Corn Ex-
change that the lease had expired.
Mr.. c. ID. Hinks.-And yet in the face of these
facts the gentlemen who have acted in this manner
charge us with being opposed to the removal
The PRESIDENT think the gentleman is out of
order. This is ameeting for special purpose.
Mr.. Hinks.-No, sir, am not, and if so decided,
will appeal to the members
The President.-Then state your point, SIR
Mr.. Hinks.-I asked the question regarding the
renting of the present building, because a prompt
answer was necessary for proper understanding
of the action of the Board. An election takes place
to-day, and those who vote should be familiar with
the of action of the present Board. The
proper understanding of the question have asked
will have influence on the action of the members of
the Exchange, and may materially affect the result
of the election.
Mr.. Kyle defended the action of the Board, and
referred to the proceedings of last spring. The
Board was elected before this question of removal
properly before the Corn Exchange. They
had acted with eye single to the best interests of
the corporation. The Committee on Finance could
not enter into contract leasing the property.
The charter prevented such action. He then refer
cd 10 tha thraa tpfc IF &c
body, and remarked that had the removal taken
place there would have been a separate organiza-
ton. lie would state that six of the gentlemen
whose names are on the Independent ticket had
signed paper pledging themselves to oppose any
removal from the wharf, and that five of the names
on the regular ticket also attached to simi-
lar paper He had nothing to say as regards the
tickets on this questions they spoke for themselves.
In conclusion he would ask the support of all for
the regular ticket.
Geo. Y. Worthington said that in selecting his
ticket he was not actuaed by this question, but had
selected the best men.
Mr.. VIM. Crichton remarked that he had long
acted in an official capacity and only resigned
because he thought that others might be found
who would fully discharge the duties which he had
so long attended to. He had not lost any interest in
the prosperity of the Corn Exchange. He had hoped
that the removal would have taken place before
this time, and he had exerted his energies to
summate it. He had been informed by gentle
that it was necessary that he should allow his
name to be placed a ticket and, without consid-
Grafton and without making inquiry as to what
names would be on the ticket he consented. The
place which he desired to for the use of the
body was no longer in the market; he had deemed
the property Of George p Kane as that best suited
to their wants, and he thought that if gentlemen
would look at it now, improved and beautifed,
they would be able to appreciate their loss by
fusa of it. He had not acted selfishly in this mat
ter. 1t was to his convenience and pecuniary in
terest to have the Corn Exchange located near his
place of business but looking to the interest of all
he had thought Exchange Place the proper loca-
tion He had choice now, he only asked
to be shown property which would meet the
wants of the Association and it would receive his
assent. He had heard that morning that it was
currently reported he in favor of re-
naming in the present location. He would state
the only foundation for such report a CONVEX
sation which he had had with two members of the
Corn Exchange. He had said in speaking of the
difficulty of securing suitable Site that the pres
ent buildings might be converted into proper
room, by alterations and improvements, and by
having the dock condemned and filled up These
remarks had been distorted until he was now made
to say that he desired the present location. My in
terests, he continued, would to work for a
location my place of business, but those who
know my antecedents know that | have been ac-
tuated in this matter by sole desire promote the
prosperity of the Corn Exchange This property,
he said, cannot be purchased, and therefore any
little castles which he might have built falls to
pieces. He then referred to Mr.. Pratts property
and said that there was not ROOM The wants Of the
Corn Exchange would not be met with a capacity
of 900 superficial feet. They did want to be
PEELED to seek the of the room to speak on
business. They should bave at least 1000 feet
The should be lighted from the roof, as it was
the only proper way, and there should be no win
dows except for ventilation. He referred to the
] artN of Nv hoGa soiI hat A foot