The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1860-11-24
LOCAL MATTERS.

Tn. Merchants of R.ehmoaa held meeting al
| the Merchan Is Insurance Office, on Thursday
! evening last, to consult as TO the best plan &c
| be adopted in regard 10 the rates of exchange,
| and other matters Of in terest TO the CONNER
cial community.
The meeting organized by calling EoRAcEL
KENT, Esq TO the Chair, and appointing Mr.
GEORGE j. SCMNKR, Secretary.
On motion Of MI. Jas. B. Ferguson. a com
mitiee Cf five was appointed 70 confer with
the officers of tie various Banks in this city
upon the subject of Northern exchange, with
n view, if possible, to fix upon some reasona-
BILE and uniform rate. and To report To au ad I.
Iourned nesting. Tue Chair appointed as the
committee Messrs. j. h Ferguson, 5 J. Har-
rison, a. p Fox, t X Price, w II Christian.
MIR. i b Ficklen made motion, which
was carried, that u committee OF five b" ap-
pointed To take the subject into consideration,
and 10 recommend suitable meas ares tor adJp-
Comrnittee-Messrs. J B Ficklen, George J
Sumner, A Y. Stokes, VIM. G Paiue, VIM. S.
DoDnan.
After appointing 2 COMMITTEES TO procure a
suitable room, the meeting adjourned until
Friday evening at o'elock.
Merchants MsetNg.-An adjourned NEE tin z
of the merchants OF Richmond was neld at
the ball of The Young Meas Christian Asso-
ciation, yesterday afternoon, a. O'Clock.
In the absence of Tbs Chairman, ihT H. l.
Kent, on mo ION of Mr.. Wn. q. Paine, Mr..
ANDkkw l. EALETT was called - toe cuair.
Fhe Chairman, at'er calling the meeting 10
order, stated las objects, aUc called 9n the
committees 10 report their cti0n.
MIR. j. Il. F,cklsa, from the committee to
" recommend suitaale measures tor adoption
in regard To Exchanges anh carEeaey," re-
porte1 that owing 10 the difficulty OF agreeing
To any plan that would SAT- ail tue mere nant>,
they had not been able 10 agree upon report.
) ,Tlls Of he lar est houses ia th- city had but
few naoliries at the North, and it was not
probabIt, therefore, that they would agree 10
terms that would sn,t others.
Mr.. a. Z. FIX from tiie eummittee appoint
ed "to confer with !hs officers of toe various
Banks in This city upon The subject OF North
ern exchange, with a view, IL possible, 10 fix
upon some reasonable aud uniform raie,' re.
ported that the committee mad YET Come 10 no
CONCLUSION. TGry had held meeting that
morning, and had waIIed uyon Mr. Mactar-
land, from whom they learned that the Direc
tors OF the Farmers Bank aud Exchange
Bank had appointed com uIttees Ut cJufsreLce,
but that The Directors ui the other banks had
not yet made an appointment
Mr. j. Is. Ferguson, from the same com
nittee, stated that TIE ID. .rectors of the Farm
eis' Bank, Exchange Is .nk, Btnk of the Oom-
monWeallh, and Bank of Virginia, had ap.
poin ed conference cimmittees; out they had
tailed To meet at 5 O'Clock, as appointed, aud
therefore he had 10 report To make. Au effort
would be made TO get those committees 10
gether, aud when they determined upon some
plan, IL would bs reported To the meeting.
Mr.. Fox did not see what good was to be
effected by another meeting. From all he
cUutu iedrn, ne was SdtiSneG las Banks Ciu
not intend TO m Ike a speculation on the ne
cessities of the mercantile community, and hs
was therefore in favor OF adjnurning sins die.
Mr.. Geo. j. Sumner concurred with Mr.
Fox. 10 general piau in relation 70 exchanges
could be adopted, and the merchants would,
therefore, be compelled to act each man for
himself.
Mr.. Taylor favored another meeting, to hear
from the conference committees of the Banks
Mr.. A. K. Parker could see nothing left for
the meeting to do. Merchants owing debts at
the NorLh would be compelled TO pay the cur
rent rates of exchange, whatever they were,
or 10 decline 10 pay. The matter was In their
own hands, and each one must act for him self
He desired to see some arrangement made with
the city Banks by which the notes Of solvent
country Bauks would be received, and thus
save the retail trade from a ruinous sacrifice.
He therefore offered the following resolution,
which was unanimously adopted
Resolved, That this setiag recommend to the
CITY ranks to receive on deposit, aud pay cut III
current 1unds the OF all S0EceHt Baaks IN the
state
On motion of Mr.. ]. II Ferguson, the meet
ing adjourned 10 meet again On Monday even
ing next, Al O'Clock.