, 1864-02-20
REMOVAL OF THE BOARD OF TRADE.
Meeting Last Eveuln@-Kcpofx Of the
Committee on Building OrSAnl-
zatfon-A New Structure
Decided On-The Cham.
bef OF C0mmc mcfCe
Charter.

Pursuant to public notice, meeting OF the
members OF the Board Of Trade was held at thcIr
rooms last evening. At O'Clock, john T.. Han
cock, Eaq.. President, took the chair. and having
called the members to order, stated that the OIL
ject Of the meeting was to give the Commltte on
the Building Organization an opportunity to re-
port.
Charles Randolph, Eaq,, Chairman Of the Com.
mfttee then read the following report:
Yonr Committee to whom waa referred the mat-
ter Of deytking plan Of organization for pro-
pofed Building Association, beg leave respectfully
tbs cs,mnsittce ut tho outset were disposed to
entertain the idea that an arrangement might be
made by which the Board Of 1tads under its char
ter, could purchase or lease and hold sufficient
property for Its purposes, and Issue such certi-
hcaies 10 its members as would bc evidence OF
the!r M & personal interest IN the property. a p!aa
th1t might be In come respects similar to the ono
submitted to the meeting ot the Hosrd q.
which this committee was appointed. They
1S tn, ssa BB at sound f.
cation detail. that they doubt the propricty OF
atsenpting 2any eucA organization under that
They then sought information in regard to a
genera! State law OF Incorporation which was sup
pcfed bF mary to exist under which the members
purposes. The committee, however, ind that 10
such general iaw is In existence that would enable
us to accomplish the end desired
worthy {. 7. WhccieT @ Esq.. has Il also I
claimed, as was It's dur, our careful, attention
That proposition is that our assessment Of oae
hundred dollars each, be made on all mcmbers at
the Board, to cfeatca fund II no: in itself sut1-
cient for the purposes Of the proposed entcr-
e Secure To0s o.ns 1s e sopse s%s tRs
or to lease Of lots and erection Of the necessary
tulldtnEs. This suggestion II fully carried our, 1t
Be T9a 20 3ts n 9os ea
tptrit OF the preeent suernbcrshipso tile Board
Our chsrter gives Us 70 right to hold property to
and 60 far as the committee are advised. no mem.
her q The Boa.I wcnld approve the erection Of u
building. the cost Of which With the necessary
present charter, therefore, we should be Obliged
| In carrying ont that proposition, TO lease The
g9onnd upon wh.ch the building might stand.
property TO be improved and enhanced in Taiae
for the benefit OF ottcre. and on which the rental
would l;c largely advanced by reason Of our own
sa'is4ct:en IN tss reabsr.h.p from rom 10 for:.as!c
assessment Of 20 large sum Al sir. and a1thoush
in most c.ses it might be paid, etl many would
Soea IT, ~ q ss
nalirg &C la.ee EnI1 10 their Successors.
sce1os to yonr committee that tho surcst. and
~ a. me:1s tho best course to pursue would be
t5e to1E atton Of joint stock cpmpanY, the pHla-
ers Of which stock company should have IN o3pos~
un1y to participate IN the profits Of the eaterpi-e
r. ssset prerorf'en to the amount invested. and
en:fneptiy profitable. We anticipate no difficulty
wL@teVer In securing the necessary subscriptions,
sp @ as I 81 Is s9ona
41eEtion As to it, legality.
wants IN ttns respect, wss IN possession Of and
owned Ey '' the Chamber OF Commerce" Of this
city, your committee proposed to the Directors Of
Ttrdc be permitted to accept md use that chatter
for building purposes. fonr committee take plca-
snre IL Esposi1s tn ihsf our fasgesslon was most
that they have eo far acccded to onr request IS to
express their Willingness that their books Of sub-
fshsa a hoara d q Tas s'vs s essasa &
Of subscribing to its stock for the Bpacc OF ten
daYs. no one snbsczibor during that time to OK
esed twenty shsres Or to Thousand d doss ls Ihs
and others IN such amounts az they msy desire
amount required tho Beard of Trade IN It's C. cor
Ing the balance and when stocx is aubacFtbcd to
the extent Of one hundred thousand dollars and
iif G be Gbeid nndes @ The provisions Of tie caastsr
Your Committee are unanimous IN the opinion
that the arrangement IL ample for the purpose OF
so5e most earnestly recommend its adoption.
The acceptance Of this arrangement in no wise
1n,eIteTsa wl!h the present otgantzsaG,a , OF The
se q st
tn both charters would be secured TO the mcmbcrs:
Il L embraces comp-oI1iec, so to speak, OF al
sd, preserving The ersanizstion oi the
While it viii, wc helieye, result IN Securing to Il:
members nnrh needed and appropriate building
controlled By themselves. It allows the Board og
Trade to subscribe for md own n portion Of the
STOCK. The money to pnrchase which may be
assesaed ~ in MT. Wheeler's proposition. But in
this plan the amount required to be assessed on
each member to elect q complete community of
interest, would be 60 small as not to be seriously
felt By nny.
II tie proposed plan be accedsd to By tie mem
hers Of the Board, the committee would urge
pfomr1ness by the members In filling up the sub
EciptIon to one hundred thousand dollars, 30 that
the new election for of3eers may he held oo the
first Tuesday In March. the day fixed bY the char
ter Of the :" Chamber OF Commerce" for the an
nua1 election.
On motion Of ]. T. Wallace 1t was resolved that
the report be adopted. Atter some discussion It
was moved. on motion Of Col. Tucker, that the
vote adopting the report be fcconsidered, after
which, on Col. Hoagh'a motion the report was
received.
It was moved byJ. Maple, that the report be
adopted.
This resolution ceueed some discussion, and the
Secretary wAs requested to read the charter the
sChamber Of Commerce." after which warm
discussion ensued, In which the subject Of CO.
operating with tho "Chamber Of Commerce" :" aud
tie extent of control the Board would hare in
such amalgamalion were freely debated.
Itwas moved In amendment BY z. s. Canfe1a,
that not over $soo be taken by any Of the members
until after Tuesday next, and then the amount
may b increased to $4,000.
The report with this amendment WIS then Of
fefed to the meeting, and passed almost unani-