The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-02-19
TIE Hl1IosiL srock EXCHANGE.

Lively Time Among tho Brokers.
There was very large meeting yesterday Of the
members OF what was known up to yesterday a. the
Independent Board Of Brokers, but now known a.
the National Stock Exchange.
The meeting was held ut No. 81 Broad street. The
room was crowded to excess by, ~ il afterwards
proved, Of the most excitable body Of men that
ever met for any such purpose. large number OF
the leading houses were represented and the organi
xation seems to meet with general favor.
At three r. NJ. the meeting was called to order by
Mr.. =. r. Tremaine chairman pro tenn. OF the
Board. On motion Of Mr.. Parks the Committee on
Organization submitted their report, consisting Of
the constitution and bylaws and IL was read by Mr.
VIM. Ward one Of the committee, and received with
mucn applause. Some OF the important provisions
Ia the constitution and bylaws as follows:-The
entrance lee ID TO be $780, which can be raised up TO
$1,000 by the action OF the Board; but at no Time can
II be made less than $3.50 or more than 81, 00o.
The hours for the call Of stocks shall be from ten
A. H. TO four p NJ the regular call 10 take place at
s y s ~ goa @
president, at salary Of $4,000; second wee pres
ident at salary Of 5000 this officer IS TO call the
$50, Hdr annum; secretary, at salary Of 5000; and
an assistant secretary, at $500 per annum. The
bylaws embraced other Observation-Disclosures, but
We cannot spare the space to mention them.
At this point Mr.. Clark moved that the balance Of
the report be laid on the table. This was objected
to and the greatest confusion followed. Babe was
not a circumstance to the hubbub that took place.
Finally, Mr.. Clark explained his reasons for making
the motion. by stating that lie one OF the Com
mttee on ORGANIZATION. and that as one Of that COM
mittee he had full knowledge OF the action OF the
same, and he must say that he was disguised with
the action Of the majority Of the committee they
had placed their names as candidates on nearly
all tine committees and Important positions on the
ticket that was TO be submitted for the APP
pr0va OF the Board AZ the next thing In order
to be read In the report and for this reason he would
move that the portion Of the report just referred TO
be laid on the table. This announcement created
great sensation and loud cries were made for the
names OF the candidates. MIR. Clark Withdrew his
motion and the balance OF the report was read and
substantiated Mr. Clarks assertions for the Commit
tee on organization were well represented on the
ticket the confusion ut this stage OF the proceed
ings understandable, and it was some time before
anything ike order could be restored. motion to
accept the repeal was put and although 1t was very
reason the chairman declared carried. His decision
was received with fierce denial, and cries OF mo-
nc, put hlm out, - "a put up job" filed the r0Om
This caused the chairman to revoke his previous de-
cislon and announce that the molon was lost. On q
molion so much Of the report as related to the
nomination OF officers was by unanimous
vote, laid on the table. M. FISK was
mounted desk, and after quiet was restored adj
vised the Board to accept the constitution and by
laws excepting the nomination OF ofnccrs as they
could be modified az any time by the majority %
tie Board. MIR. FIsks suggestions were received
with universal approval, and on MIR. ClarK's motion
q resolution was unanimously adopted accepting
the report except those parts that related TO the
nomination and election OF officers and salaries
which were stricken out
Mr.. Clark offered the following resolution which
was also unanimously Adopted
Resolved That the election for officers Of the new Bosrd
take place Saturday, between the hours OF twelve and
four r. NJ and that be permitted to vote who
have not paid the entrance fee.
Messrs q. Q. Parks George u. Clark, Charles
Unger and Il. II. Tremain were appointed inspectors
OF the election, and the meeting adjourned.