New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-24
IRON BARGES.
Meeting at the Cotton Exchange.

| Meen08 NJ t0c NOSAOA 1Xc0008es
There was large meeting last night, a
the Cotton Exchange. OF some OF the wealth
| lest and most influential merchants of th;!
! city. Mr.. John Phelps was chosen as presi
dent, and stated that at their last meeting
! on the thirteenth of June, a committee was
! appointed to report on the feasibility Of
building iron barges to bring grain from the
| West through to European markets by way
| Of New Orleans. He said unless something 2
was done we were dead city.
The report Of the committee was sub.
| mitted, proposing to form joint stock com.
| pany, having q capital of one million dol
| lars. with the privilege OF increasing it Ia
| two millions.
General Cyrus Bussey read supple.
| mental report, showing that twenty-five
steamships, drawing eighteen feet Of water,
were bull. and being built by different com.
| panies in Europe to take the grain from
this port, and these were bu; the precursors
of hundreds Of other vessels that would
come here as soon az we could provide the
barges to bring the grain to New Orleans
Tie report was adopted, aud Mr.. H. NJ.
Summers, being called on for a speech, said
he was man Of few words, ard called on
General Buesey to enhghten the meeting.
General Bussey said that but little speak
ing was necessary. He was Tor action. and
proposed that books should he opened to
raise the money. st. Louis would help us,
and SO would the Illinois Central railroad.
and all the cities and towns bordering on
the Western waters 1t would take b. t
$500, 900 to keep 5GC. 600 bushels Of grain i'll
our elevators all the time. He said Chicago
is now crippled, and it would take fifteen
years for her to recover.
Mr.. Highly said, all that was necessary
was for us to act, and st. Louis would act
with US SO would all the towns and cities
Of the West.
General Busy said that if we would take
care OF the grain. cotton would take care
of itself.
Mr. Phelps thought cotton would not
take care Of itself: much Of it was already
going the other way. He called on MI.
Moses Greenwood. who said, a great deal
OF cotton had taken Northern direction.
He had been a merchant here for forty
years that we had been slow in forward
ing enterprises. and if We would all come
forward, and each would do a little, the
trade of New Orleans would revive.
Mr.. H. NJ. Summers said he was sorry
there were not more landlords and property
holders at this meeting.
Mr.. Seixas said the landlords and prop
erty holders were a drawback to the pros
perity Of this city. They drew their rents
and revenues from the enterprising mer-
chants and poor laboring men, Willie they
luxurlated III Paris and Italy. They CON-
planned of high taxes. and made that pre-
text for extorting exorbitant rents from the
poor. The tact was. the taxes were not
high enough. The way to get rid Of these
unenterpris'ng landlords was to tax them
plumb out OF the city. IApplause.l
General Busy moved the president ap-
point committee. that should be unlimited
in number, to solicit subscriptions to the
capital stock OF the company, the shares to
be fifty dollars each, who are to report at
the meeting on Monday night next. Mr.. H.
NJ. Summers was appointed chairman Ofthe
committee.
Mr.. Thomas A. Adams, of the Crescent
Insurance Company. said that the under
writer's would indorse the proposed enter
prise. He was glad TO see that the people
were in earnest.
Mr.. Phelps said that the Third District
should have chance at the enterprise, and
agents shcull he sent down town to solici,
On motion of Mr.. Summers the secretary
was requested to forward copies of the pro
ceedings OF this meeting to the chambers Of
commerce in all the cities Of the West.
About $4,000 were subscribed on the |
spot. in sums Of Sl00, $500. $500, $1,000 ana |
$1,000.
Prominent among the subscribers were |
Summers Il Brannin, Peet, Gayle Il Bow |
ling. Brice, Hine 4 Tupper. Marshall j.
Smith, w. G. Covle & Co. c. c. Haley. |
Mason. Prestidge l. Co., Avendano Broth |
ers, Busy l. Co., Mr.. L. j. Highly, who
subscribed $1,000.
The meeting then adjourned, to meet
leXt Monday at p. NJ