The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-02-02
BOARD OF TRADE.
Ahirty-Sixth Annual Report-Interest-


NN"'ns' tne iolloWlng oiheers were elected Tor
tne ensuing year:-President, John Welsh, offs.
W. Welsh, shipping and commission mer
chants; Vice-Presidents, Samuel V. Merrick
formerly Merrick q Sons, machinists; James c.
Hand, OF James g. Hand d Co., iron aud hard
ware commission merchants Frederick Fraley,
President of the schuylkii Navigation Com
pany; Secretary of the Association, T. Morris
Perot of T. Morris Perot & Co., Wholesale drug
gists; Treasurer, Richard Wood, OF Wood Marsh
Hayward, wholesale dry goods.
The thirty-sixth annual report Of the EXecu-
tive Council was submitted. This document
after reviewing the formation an / action of the
National Board of Trade in this city last fall,
states:-
In reference to direct foreign trade from our own
port by steamship to Europe, the Council have not
been unmiudful or ueglectfJl Of its duties. The
last report of the Committee, who have watchfully
and industriously attended to this matter, stands
upon our minutes follows:
MI Souder, chairman of q committee in refer
ence to steam transportation stated that, after
peated interviews with the officers Of the Pennsyl-
vanta Central road, he thought it safe TO affirm the
ers to Liverpool would be placed in service. With
regard to q North German line, he stated that
Tst-class limo Of steamships Is now being fitted out
between Altoona and either New York or Philadel-
them by n sufficient subscrfption and effort hut
that he not yet prepared to propose ANY line of
action, and asked a continuance Report ac-
This line to Liverpool will be started at the joint
risk of Handcrido Henderson, Of Glasgow, and
the Pennsylvania Central Road Mr.. Mcueury
being the agent The steamship line to the north
of Germany mentioned above is one eminontly de-
serving the most serious consideration of the bust
ness public of Philadelphia. 1t viii be in every
respect first class line. 1t will be the recipient Of
aSubvention from the Prussian government. The
managers of it are strongly inclined to make Phi
ladclpha its American terminus. All that is needed
is that Philadelphia interest should be created by
joint contribution TO its funds and joint risk (it
such there bC) in its
The hesitation of the committee of this board in
oil ufF tlaR lie
originated in unpleasant "reminiscences OF the re-
suits of some former undertakings. The question
by the two powers equal TO the task of nsuring
decision in favor of this clty-th5 one the great
business public of Philadelphia, before whom the
cost Of the enterprise, it would seem, would be
as nothing; the other the Pennsylvania Central
Railroad which would be the principal recipient
At the stated meeting in February last on mo-
ton of Mr.. Kent a memorial was addressed to the
Councils OF the city in favor OF the immediate con-
structOn OF a second ice hoat, for the purpose Of
securing OF open winter navigation OF the Delaware
river: The Council are now happy to congratulate
the Association upon the completion OF an lee
breaker believed to be adequate 70 all reasonable
requirements, and capable with the help OF the old
one, If not alone of keeping an open channel from
The frauds upon the internal revenue had become
30 manifest, in regard especially to the articles OF
whisky and tobacco, that special meeting of
Council was called in April last, at the instance of
Mr. Merrck, TO consider and if possible to Indicate,
some plan by which greater revenue from those
the demoralization, so general and so great as
apparent in the trade in those articles be
measuraby checked. After mature consideration
and debate, a memorial was prepared by Mr.. Mer
rick and forwarded to Congress, in favor of dimi-
mutton of the tax upon whisky to not less than fifty
cents per gallon and change Ofthe mode of taxing
tobacco so that all nearly all the excise tax should
be collected upon the leaf. The former change was
adopted. The results are probably not yet fully
apparent, but far as they arc manifest they Ger,
tainly do not show that diminished temptation will
wholly eliminate fraud.
Memorials have also been forwarded to Congress
against permitting any local private or public cor
y merce entering the mouths of the Mississippi, un-
der tho speciuTs pretence OF Improving or deepen
Also, az the instance of Mr.. wetherill, in favor
of continuing government aid to the Kansas Pacific
Railroad.
Also, on motion of Mr.. Fraley, in March last in
favor of the bill then before Congress diminishing
materially or entirely removing the excise on
domestic manufactures.
Also, on motion Of Mr.. Buzby in favor of contin-
uing appropriations for the active prosecution of
the United States Coast Survey.
Also, motion of Mr.. Allen, against the further
postponement of the time when that portion of the
bankrupt act should become operative which re-
uures the debtor to show assets to the value of
30 per cent of his Indebtedness in order to Receve
The subject of taxation by States and local muni-
cpalites of commercial travellers, exhibiting goods
and selling by sample, under the name of licenses,
respectable house, which had been the sufferer by
extravagant penalty imposedin the city OF Pitts
burg upon one of their employees, who had actually
paid a license tax. These license laws are in force
In almost every State, and State court of Mary
land has recently decided that they not in CON
secures to every person in State he may visit the
same rights enjoyed by citizen thereof.
That the effect of these laws upon the whole and
in regard to the general Interests of trade is per-
niciols, cannot be doubted but where reform can
begin, how and by what authority it can be
effected, is of such difficult determination, and re-
quiring the acquiescence and assent of so many
parties that 1t seems almost impossible of accom-
pishment. It was remitted by Council a tit sub
ject for their consideration to the National Board
of Trade.
The Council have above recapitulated, as is re-
quired by the constitution, the principal subjects
which have received their attention and been de-
hnitiVely acted upon. As has been their custom
for years past they Will here add a few words
respecting the results Of the business OF the year in
the three great staples of the State-coal, iron and
petroleum.
Measured by quantities sent to market no year
has ever been productive as the past and, Judg-
ing from these quantities, year has ever added
more to the wealth of the State than the mast, The
anthracite coal sent to market from the three great
coal fields Is l3 3614 257 TONS against 2,52 SOB
in 1867 an increase Of l6l, ,S64 tons notwthstand
ing long suspension OF production in the Schuyl
kill region in consequence of strike on the par
of the operatives; but the production of the yea
before diminished in about equal quantity from
the same in another region perhaps thi
may be considered as chronic and normal affiic
ton of this trade and that this increase of 900 06
to 250 900 tons is about the legitimate increase
this product, and as no over production over
stock is apparent from the present prices, 1t ma,
be taken q fair conclusion that the consumption
of the country will absorb fully this increase in th
future, as in the past
If the btuminous fields have been equally pro
ductiYe, and il is certain that they have, the tota
coal product of the State has not been less thar
$4,000 900 The price Mt the collieries has beer
at least So so per ton. From this it is seen tha
fully S45, 900 600 have been distributed among tn
2, prodnceIs. Fully equal amount has been re
ceived within borders by transporters and deal
ers, since an estimate Of 50 per ton at the Stat
line is within the average price of the wear. Uhi