The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-01-12
THE CORN EXCH A N G. e.
HISTORY OF THE ASSOCIATION.
THE NEW BUILDING ON SOUTH STREET.
ANNUAL MEETING YESTERDAY.
Report of the President.
Resolution In Opposition TO the Policy of the
Baltimore and Ohio Railroad Company.
ELECTION OF OFFICERS.
NUMBER OF Votes CAST-NAMES OF NEW
DIRECTORS
Report of the President.
ELECTION OF OFFICERS.

The present Corn Exchange Association was in
stituted in 1858. Previous to that time there no
regular association, any convenient place where
buyers and sellers could meet together, and where
samples of grain conld be exhibited. Dealers usu-
ally met each morning between nine and eleven
O'Clock, on the pavement on South street, below
Pratt, or on Bowys wharf, without regard to
weather. Those who had grain for sale brought
the samples in their pockets. Large dealers gene
rally made their appearance with all their pock-
cts filled to overfowng with different varieties and
qualities of grain One merchant would meet an
other-ask if he wished to purchase-exhibit the
sample from his pocket, receive answer, and
then pass ON to meet another customer, and exhi-
bit his samples again. By this method of making
saes it found impossible to keep either an accu-
rate account of the amount of grain sold or of the
prices paid, and buyers and sellers both labored
under serious disadvantages in the transaction of
their business. In the year 1858, number of the
most prominent men engaged in the grain trade
concluded to try and remedy the Inconvenience un-
der which all were suffering Corn Exchange
Association was suggested, but met with but little
favor. Most of the merchants were inclined to
the old way OF buying and selling on the street,
and doubted the expediency of having an
association. However, Messrs Samuel Fenby, Israel
M. Parr, and William Crichton, rented the lower
room of the building now occupied by the Ex-
change, and seventy merchants formed themselves
into Association. The venerable Nathan Tyson,
ESQ.,, was chosen President, and the daily meetings
commenced. Immediately on its organization, an
intense hostility exhibited towards the associa-
tion not only by the farmers who sent their grain
to market, but by large number of those engaged
in buying and selling. The farmers contended that
such an association would concentrate the interests
of the city merchants s,-advantage would be taken
by them of the condition of the markets. (Which
would now be accurately known,) and the conse-
,quences would be to the disadvantage of the far
mers This opposition was violent and protracted,
but, notwithstanding, the "Corn Exchange" grew
gradually into favor. Steps were taken to secure
charter, and on the 22d day of May, 1855 it was
incorporated by the Superior Court of this city.
The following gentlemen composed the first Board
of Directors after the incorporation: Nathan Ty-
son. President; Thomas r. Matthews, Soloman
Corner, Samuel Fenby, Thos. Whitridge, William
Crichton, B. F. Newcomer, Israel NJ. Parr, T. W.
lowering, Chas. A. Gambrill, VIM. Chestnut, Samuel
Hazlehurst, J. B. Brinkey, John S. Williams and
Charles D. Kinks. By this time the oppOs-
ton had become subdued; the Association had
prospered beyond all expectation, and on the
first day of January, 1856, it numbered three
hun ired and fifty members. AT the election in
January, 1856, VIM. Crchton was elected Presi-
dent, and was reelected in January, 1857. During
this year. the largely increased business which was
done on Change made it manifest that the apart
ments occupied by the Association were entirely
inadequate to its wants. The question of removal
to more commodous apartments then came up, and
was discussed during the year, but no steps taken
in the matter. In January, 1858, John ). Will
liams was elected President of the Board. The
membership were nearly equally divided the
question of removal, and those who were in favor
of seeking enlarged quarters, were again divided
in reference to the locality in which the Exchange
should be established. In the Spring, meeting
was held and majority of the Association coucu-
ded to remove to Exchange Place, where an elgi-
BILE site had been offered them The movement met
with much opposition and number OF the mem
bers threatened to secede if the Exchange re-
moved from the wharf. 1t was accordingly deemed
prudent not put resolution of the Association
into execution. The year therefore passed without
action but majority Of the Association had deter
mined to have apartments creditabe in appearance
and affording sufficient accommodation to meet all
its requirements. Accordingly, at the election in
January, 1859, the question of a "New Corn Ex-
change Building" was the division of parties At
ter an animated canvass and election, the friends
of the movement triumphed. The Board
organized by electing William Crichton President.
Owing to an imperfecton in the charter of the As
sociation, it was impossible to issue the stock
necessary to purchase ground and erect the
building. To remedy this, company was form
ed among the membership, under the name of
The Exchange Building Company. Application
was made to the Superior Court for a charter,
which was obtained, and the Company elected
Horatio l.. Whitridge President. Subscription
books were opened, and it was estimated that it
would take $50, 900 to meet the wants of the Com
pany. No persons other than those who were MEM
bers of the Corn Exchange were allowed to subscribe
for the stock. In few DAYS a sufficient amount
was taken to warrant the Company in purchasing a
lot, and advertising for designs and proposals for
contracts. number of sites were offered, but that
onthe corner of South and w ood streets was deemed
the most eligible, and was accordingly purchased.
This site is directly opposite the present Corn Ex-
change. A design furnished by j. Crawford Nelson
selected, and the contract for the erection of
the building was given to Messrs. Maughlin &
johnson, who agreed to finish the building for
S2S,000
THE NEW BUILDING.
The new Corn Exchange building is of the Ital-
ian style of architecture, two stories hgh is impo
sing and handsome in its exterior, and is admirably
adapted to the wants of the Association 1t fronts
So feet on South street, 140 feet Wood street,
and.52 feet on Bowley's wharf 1t is 81 feet high
from the pavement to the top of the parapets-
The first story is divided off into store-rooms and
offices. On the north side there are two stories,
fronting on South street, the other on Bowly's
wharf, and each &C feet in length by "a feet in
width, and 13 feet high. On the Wood street front
ed for counting house purposes. These rooms are
for rent, the Association not needing them. On
the second floor is the Corn Exchange Hall, which
is l0l by so feet and 26 feet high, afording over
5000 feet of floor, and will be finished in the most
elegant manner. The walls will be frescoed, and the
furniture neat suitable and durable. On the north
side of the room, in the centre, will be the clerks
desk; the tables and stands for exposing the sam
pies VIII De arranged ON TIE SOutn slue. 1nere
are five French windows-each l6 by feet,
arched at the top-on the Wood-street side, and
three on the Bowley 's-wharf front. The principal
light, however, is received from skylight, l6 by
&C feet, which gives regular and ample light over
every part of the hail. The ventilation is complete
and in the summer the room will be cool and pleas
ant, even in the hottest weather. 1t will be- when
finished, the finest Corn Exchange Hall in the Uni
ted States, no other city having similar building
worthy of comparison. Fronting on South street
are two rooms, one of which rs % by 25 feet, for
the use of the President and Directors, and the
other 20 by 33 feet, intended for a Reading Room,
where the daily papers of this and other cities will
be placed on file every morning These rooms will
be whtecO finished handsomely, and furnished
neatly. At the side of the Presidents room is
small room furnished with wash-basins etc There
two entrances to the Corn Exchange Hall. one
the north end of the building, on Bowly's wharf
and the other South street. in the centre through
a doorway of free-stone, over the top of which
are the words ''Corn Exchange" The stairway is
seven feet wide with ratings at each side. The
first story is formed by iron columns, eighteen in
ches in width, of neat pattern, terminating in a
cornice supported by trusses. The upper part of
the building is of brick, and is painted light stone
color. The entire structure is elegantly proper
toned ,and presents marked and imposing appear
ance. Much credit is due to the Building Commit
tee, consisting of VIM. erich ton Col. Geo. p. Kane
and B. G. Harris, for the energetic and faithful
manner in which they have discharged their duties.
The building will cost S28 300 and will be ready for
occupancy by the first day of March.
THE MEETING NEUTRALITY-SUSPICIOUS. OF OFFICERS.
Yesterday morning at ten o'clock, the annual
meeting of the Corn and Flour Exchange Assoca-
ton took place in their South street, OPP
poste Wood street. The meeting organized
by calling Solomon Corner to the chair, and ap-
pointing George H. Kyle, Secretary. Mr.. VIM.
Crichton, President of the Board, read his report
of which the following is a synopsis
The report commences by congratulating the
Association on the prosperity which has attended
it during the past year. The report next referred
to the death of several prominent members of the
Association during the year, viz: Peter Zel, Fred
erick Phillips, and Capt W. Travers-al alike
noted and respected for their upright character,
business integrity and social qualities.
This city still maintains her position the second
grain market on the Atantic coast. The total re-
ceipts during the year were 7,725,000 bushels, or
about the same as in 1885, There was an increase
in wheat of 100000 bushels, but a falling off in
of 800 900 bushels and in oats of 270 900 bush
els The receipts of -four during the year were
greater than in 1858 in all branches exceptir g
Ohio, but the aggregate fell off 70 900 barrels The
decrease during the past year will be about per
cent.
The falling off in the -four trade was attributed,
in small degree, to the loose in which the
Inspection laws are carried out, and the incompe-
tency of the inspectors. The report states that a
committee from the Corn Exchange and the Board
of Trade, to investigate the laws in reference to the
Inspection of Flour, was appointed during the year,
and after full and thorough investigation, recon-
mended change in the mode of appointing the in
spectors, whereby the -four of Baltimore may again
assume the high and enviable reputation which it
formerly held. This committee deem the present
laws sufficient it the inspectors competent and
efficient men, But under the present system the
position ia piven N favo ubo hav