The Portland daily press., 1863-03-31
Opening of the Merchants Exchange.

There was a very large gathering of the
business men of Portland, yesterday at II
o'clock. at the rooms of the Merchants Ex-
change, No. "a Exchange Street. All classes
of business men were represented. There
were importers, jobbers, traders, mechanics,
brokers, and those of the professional classes.
1t was, truly, a larger gathering of the bust
ness men OF this city than we have before
witnessed, and the opening of the Merchants
Exchange exceeded the most sanguine ahtici-
pations of those who were interested in get
ting it up.
Several dispatches from the Merchants Ex-
change, Boston, arrived while the merchants
were congregated, and were placed on the
bulletin board. One Of these dispatches, re-
ceived few minutes past IL o'clock, announc-
ed that gold opened at the Brokers' Board in
New York, at IL A. NJ, at sl.46.
At half past IL o'clock. T. c. Hersey, Esq,
President of the Board OF Trade, called the
meeting to order, and said it was pleasant to
meet so many of the business men, as it was
an evidence of the perfect success of the
scheme. He said it had been in contemplation
for number of years, but the location of it
had been in the way of carrying il into effect.
This year the Board of Trade determined to
have an exchange opened, and, hearing that
these rooms were to be let, engaged them for
three years. But, as it was novel matter,
parties would only be called upon TO subscribe
for single year.
An engagement had been made with Mr..
Rich of the Price Current, 10 carry on the
rooms, and telegraph dispatches would be re-
ceived every day. The expense OF fitting up
these rooms, and the charge of them for the
first year. would be about $780,. A portion Of
this amount would be paid by the Board of
Trade, for the occupation of the room in the
rear, which was to be devoted to their pur-
poses. The balance Of the expenses would be
betrayed by subscribers to the Exchange, who,
by the appointment of a committee hereafter,
would have the management Of it, and who
would decide upon matters connected with it.
The fitting up of these rooms, said Mr.. H.,
is another proof OF the onward march of the
business of Portland. What the business men
wanted was ralYiug poiut-a place to meet
together ana learn eacn others views, ana 10
cooperate together. Let the foundation of
this corner stone of the Merchants Exchange
be laid on principles of integrity; let it be a
place where every mans word will be as good
as his note or bond, and the good effects Of
the institution will soon be seen and felt.
Mr.. Hersey then suggested that a certain
time should be designated by those present as
the hour on which the rooms should be opened
Mr.. Shurtleff suggested from half past II
TO half past ~ o'clock in the forenoon. But
at the suggestion OF some others, the time was
fixed at from IL TO II o'clock. The persons
present then voted unanimously, that they
would be punctually present, if in the city and
well. at that time, daily.
Subscriptions were then taken, the terms
being s. for an individual and IS for a firm,
and upwards 100 names were handed in.
We congratulate the merchants upon the
successful Inauguration of this institution. II
speaks well for them, and We have no doubt
that before the year is closed they will wonder
how they ever got along SO well without it.
There was but one feeling prevailing among
the large number present, and that was that
this matter was now placed on a sure founda-
ton.
The following is n list of the subscribers