The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-04-16
THE GRAIN TRADE.
MEETING OF THE CHAMBER OF
COMMERCE.

|
There was special meeting OF the Chamber of
| Commerce held last evening in accordance with
previous announcement, to consider what steps
may be taken by our merchants looking to CO.
| operation with those Of st. Louis in attracting
hither the grain trade OF the West; alao TO con-
slider any propositions that may be made In refer
ence to the present system of flour inspection in
this city.
A numerous sssemblsge was present. COM
munication was read by the president G.. A.
Fofdick, Esq, from Messrs. Blsyback, Csmors and
other gentlemen, regarding call Of the Cham.
Der Of Commerce. Mr.. Fosdick in few remarks
dwelt upon the grain trade and its importance to
the commercial interests of New Orleans.
Dispatches from Messrs. SIayback and others
were read as follows, viz:
NEw ORLEANS, April Is, 1869.
E. j. stsDard, st. Louis:
TO consider subscriptions to your grain movement.
We telegraph for information. Is the organiza-
ton permanent, or to dissolve should individual
enterprise keep the movement going! How
subscriptions 20 be paid, Are stock certificates
issued by the association?
We think New Orleans will do her part.
(Signed) @. E. 8. Il Go.
ST. LOUIS, April IA.
To Chss. &. slSyback Co:
We organize under the State Law, issue stock
certificates and will maintain the organization
till the object is accomplished. Stock called In ss
necessary. We propose to keep stock here and
at Kew Orleans, that orders can be flied at ali
times and demonstrate the superiority OF the route
by shipment. Let New Orleans organize SINH
lar independent but cooperative association to
draw purchasers, and II necessary buy and ship
csrgoes to foreign ports. We organize and elect
officers tomorrow; the movement is q success,
and your interests are second to none in this
valley. Push on your org snizaton and report pro-
gress. GEO. r. PLANT,
President Merchants Exchange.
Mr.. Oglesby was of opinion that the notice Of
the meeting had not been long enough published
to give it the publicity desired. He read dis
patch asking the formation Of grain association
in New Orleans, as follows:
ST. LOUIS. April IL, 1869.
j. H oslesby, Charles ssybacs Marshall Smith, Jas
w c. Sanford and u 7. Budoecke:
We respectfully but earnestly solicit your per.
sonal influence in securing the formation OF
grain association similar to our own, to cooper
ate with us in efforts to open direct trade be-
tween the Mississippi Valley and European and
| Atlantic ports via 81. Louis and New Orleans.
| Our respective cities are equally interested aud
| by combining efforts we can succeed. Let New
| Orleans do her share and st. Louis will 40 hers.
| We have $l40 coo secured thus far and expect to
| increase IL to $500, 900 this week.
Very respectfully,
II. A. HoMBYKR & Co.,
| L. g. GRBEE u Co.,
/ JOHN F. ToLLR,
LEoNHARnT d ScHURIoHT,
| Z. o. STAEARD,
| l.. J. HIGBY,
ALEX. II. SMITH x Co.,
CHARLES Il. TUCKER,
Csc. Balm & Co.,
1 YAEGER i Co.
| IT, of1
as to the Importance Of such an organization ;
the falling of of the cotton trade had created a
\ eororro-- for o+bo- easi-oss. 0vfouiug tne
grain elevator movement here, he showed how
many advantages in the way to its encourage
ment had been lost by our merchants. After re-
captivating the well known facts in reference to
the transportation of grain, and the rate per
bushel, Mr.. Oglesby went on to say that the
| proper way in which to meet this matter was
| through the banks. Money could be borrowed on
warehouse receipts in Western cities, but no
| money would be loaned here on such basis.
| The market, too, should, be thought, be stocked
with grain, so that all orders on arrival might at
| once be filed. The other day an order for wheat
arrived, but could not be filed, for the grain
| not here. Yet, said the speaker, sixteen years
since only sixty.six bushels of grain had In one
| year been received in Chicago, while now there
are annually received sixtysix millions Of
| bushels.
Being asked in reference TO the employment of
4 capital from Chicago to move the gran the
speaker replied that he had reference to the
kets of Chicago, but only to the necessities OF
| New Orleans.
| Areport Of q meeting held In st. Louis, urging
| the measure contemplated, and calling upon mer.
chants TO contribute means, was read from the ST..
| Louis Democrat.
| meeting there referred to was simply to raise
| 100000 for the purpose Of encouraging the
| trade. He then went on to speak at some length,
| dwelling with much interest upon the merits Of
\ the grain trade its machinery, negotiable certih-
Gates, etc. He suggested the establishment Of q
line of propelers between this and ultimate ports.
| New Orleans holds the grain trade in her hand il
| she will but grasp it (; if not, others will. The
| cotton trade commences in October and ends in
May. What are our merchants to do in the other
| months. The grain could not be stored here as
iD Chicago, but it could be transported.
Mr.. DOlhOnde was of opinion that the elevator
here offers many facilities for storage and dry
ing as can be found in Chicago.
Mr.. Tucker suggested that he did nots see why our
merchants should merely be agents Tor 81. LOUIS
in this matter; this was not the way to inaugu'
| rate a through grain trade.
Mr.. Oglesby expressed his dissent from Mr..
Burwell's opinion that grain could not be stored
here. Ae thought there was no difficulty on this
point. The demand for grain here is increasing
daily; in a week from this half a million bushels
could fnd o MARKET so far as regarded the
handling of It. the business was conducted on a
cash basis. The movement OF grain cost great
deal Of money. The question now was whether,
through q combination, We could not organize a
grain trade here.
Mr.. Smith said the whole difficulty rested upon
the fact that the banks would not lend to the South
on sixty days, and the bankers locked upon the
people with fear aud trepidsuon as regards IA
| cilities 70 the trade. Another difficulty was the
impression abroad as TO the bar at the mouth OF
the Mississippi, for as soon as the foreign mer
chant believes his grain will stick on the bar seve'
raj days, he is slow TO ship.
Mr.. slaybsck said the people OF st. Louis do
sired to center the grain trade there, and they
called on the people of New Orleans to subscribe
capital end join hands with 81. Louis in the busi