, 1860-05-08
1nspectlon Of Graln.--MeetlnE Of the
board of Trade.

Board Of Trade.
Yesterday evening, according TO announce.
nent, meeting Of the Board of Trade was held
at their rooms. Ira +. Mum, Esq.. President in
the chair, announced the object OF the meeting
to be the consideration oftAs system Of 9raiu
Inspection.
Ar Watson, of committee appointed at a
former meeting, reported ~ follows:
To the Board Of Trade Of Tx City Of Chicago:
We, the undersigned, members Of Commit
tee appointed By you under the following re.-
olution, VIZ: Resolved, That the President
appoint Committee of five to consult with
wArthouseHen in relation to adopting an mi
given by them 80 Is to remove all objections 70
them as at present issued beg leave to report:
That the irregu'arit5 complained Of iu
the manner ot issuing warehouse receipts
does not arise from any deEect in their
form, but from. the promiscuous way in
most Of the warehouse firms issuing, are NOT
nnly signed By the fferent members Of the
firms, but By their clerks or employees, and
herein lies not only the Irregularities, but ggoa'
risk, mt only to those trading in the same, but
to the warehousemen themselves.
Your Committee, after careful and thorough
examination Of the subject before them, are
unanimously Of the opinion that receipts should
in all csses be signed. it practicable, bs
one Of the members Of the firm issuing
them, to insure perfect regularity,
und in this view the Earehouselnen fnlly coin.
eide, and would willingly adopt it. but for the
great Inconvenience and trouble it wonld sub
ject them to. In fact, they say that it would be
almost impossible to rrgidly do so.
The waFehousemeu fully appreciate the ne
cessity for more uniform system OF issaipg
receip's than has heretofore prevailed, and one
Of them suggested the following manner Of
doing 70, viii your Committee believe was
assented to By them al, and one which your
COMMITTEE would recommend the Board 10
adopt, viz
That alt receipts issued bY the different ware.
hnusem should either be signed By one of the
members OF the firm issuing them, or BY
clerk in their employ especially authorized to do.
more than two clerks in their employ to do 30.
And that each warehouse firm issuing receipts
ahall deposit with this Board tile signatures Of
each member Of the 6r1n, Is well as the sigba-
ture Of the clerk or clerks authorzedt to sign for
hem, With power OF attorney, showing that
authority for so signing. and that all said sigma
lures should be placed with The Secretary Of
The Board, to be exhibited at all times WHEN re-.
qu.red By the members thereof:
Aud further, if at rny time thee 1erk or CLERKS
having such power and authority shcu.d cease
70 have it, it shall be the duty Of the firm in
whose en'ploy he was, TO notify th, President
and Secretary OF the Board Of the fact, and on
such notice being given, it shall be the duty Of
The Secretary to notify the whole B0ard bY
postluga written notice OF the same il the most
conspicuous place in the Board of Trade rooms,
Immediately after be receives the same.
GEo. WATSON.
-. A. VAS 1svAdEN. .
The following resolution WAS mored and
adopted: -, ~
Rsolutd, That the Secretary of this Board be
instructed to cali on the m+ mhers Of tho dlt.r-
eut warehouse firms, issuing grain receipts in
this CITY, and obtain from them their .iud,sidual
signatures, and the signatures Of the clerk or
cIe1k Ks they authorize to sign such receipts for
them. with the power Of attorney authorizing
said clerks so to sign.
Mr. Wolcott, Chairman Of the Committee Of
Inspection, 1ead tho following letters, which
we're received by the Directors last week:
Or51cx or TIE Cu1cAco AND Rock Is1Axr RR.3
CHICAGO. May :, 1850.
Ia T. NUss Eeq Presl '+nt Of the Boad Of Tsade:-
Dear Sir ~, beg to call ycur at1en-
ton to the inspection Of grain aud TO state That
cur road canno1 longer submit to an arrange
ment that discriminates so largely against it
aud tle Chicago market, in faEor Of St: Louis
aud other points. A large portion Of this road
is in competition wisa the Mississippi and Iii
nois Rivers, and we think the inspection at Chi
cago has tendency to send grain 10 St. Louis
which would otherwise come to this market.
This road has ever be- ready to cooperate
with the Board ol Trade in any course 70 ad-
vance the interest of Chicago, but cauuot sub
nit longer to a Discrimination So paipah.y
against it, and unless some more satisfactory
arrangement is made, shall withdraw its cara
from inspection
Very respectfully,
JoHx I. TRACY, Sup't.
0'''A'' '@< oA' net" SIte.aa' " ars :sen + III
IL xEss. ESQ., President Of The cAseaso Board Of
DEAR Fra: This Company calls yonr atten-
ton 10 tue inspection Of grain. We hare de.
sired to co operate with your body in all Just
measures to adyArce the gram interests Of
Chlf aeo aud 1l1inois-h2re borne thus far With
~ha' we have decmed injuriou. Discrimination
against Railway transportation. We nov beg
70 say that. while we are as III xious to co ope-
rate as far rs is c7n.iseat With the merchants
1t Chicago ia this mater, We shall feel com.
PEELED to withdraw our cars from the list OF
shose to be inspected under the present system,
unless some more just md satisfactory manner
Is adopted, on or before .he 5th proximo.
With the highest consideration for your bod ?
aud yourself as the President, am most ! {.
spectfulfy your obedient servant,
G. G. H4A4oSn, Gen'l Sup't.
Mr. Wo1cott stated that during the past week
some notifications had been made in the iuspec-
tion-
Mr.. Hammond, Of the Chicago, Burlington
and Quincy Railroad, being called to express
bis objections to the inspection, stated that be
1onfd first inquire what we're The notifications
spoken of.
Mr. Wolcott stated that the grade had bceu
lowered slightly. The grain inspected last
week WAS graded as follows;