The Portland daily press., 1872-10-17
NOT tn E0te,
Immense Republican Meeting ut Lowell.
NEW YORK.


u
New York, Oct 16.-The National Board of
Trade of the United States, together with a
delegation from Canada, re-assembled this
morning in the Supervisors Chamber, City
Hall, ex-President Fraley in the chair. Mr..
Stranahan, of New York, informed the dele
gates that their ladies might accompany them
on the trip down the bay, rendered them by
the Chamber of Commerce
Mr.. Opdyke, of New York, presented a me-
mortal from Samuel A. Ruggles on the return
to specie payment, and from VIM. G. Waddell,
on uniform International rates of postage, and
on transportation of products of the Atlantic
States to the seaboard, which were referred to
the executive committee. ..rrs
A resolution offered by Mr.. Fisl1e, of st.
Louis, advocating the opening up and utilizing
for agriculture and commerce the territory now
occupied by the Indians, and paper read by
Mr.. Burnell, of New Orleans, on reciprocal re-
ductlon OF import and export duties by the
United States and other countries, were also
referred to the executive committee.
On recommendation of the executive COM
mittee resolution was passed condemning the
practice of issuing of scrip dividends, or the
watering of stock, or issue of stock without
full money equivalent by incorporated COM
panies.
Mr.. Rowland, of Cincinnati, submitted re-
solution that the executive committee memo
rialize the different States where snch laws do
not exist for the passing of laws that will pun
ish the issue of spurious warehouse receipts
and make them negotiable like other CONNER
cial papers.
Mr.. Hoffman, of Philadelphia objected to
the resolution as not specific enough and re-
commended referring back the subject to the
executive committee.
An able paper on warehouse receipts and the
protection of merchants property in grain ele-
vators along railroad routes, was read by Mr.
Hoton, of Milwaukee. Several suggestions
were made to the Board on this subject, among
of n of ala tors no
CURED to give bonds to cover the grain in store.
Mr.. Hoffman said to make the warehouse re-
ceipts negotiable would be the same as making
it a bank paper. The resolution was finally
agreed to.
Mr.. McLane called up a resolution of the
Newark Board of Trade condemning the 20 per
cent. duty on Canadian lumber raising the
price on consumers and leading to the destruc-
ton of our own forests. He showed that at the
cutting of 1869 in the peat lumber producing
State of Michigan, in less than II years the
State would be denuded. The reduction to two
dollars gold made by Congress was insufficient
Mr.. Wetherell, of Philadelphia, asked wheth-
er the Newark delegation wanted free trade in
lumber. Congress must have understood the
subject when they reduced the duty on cheap
kinds of timber from 20 to 8 per cent. more
commission. Further reduction might ruin our
own lumber trade while serving the Canadian
trade. The subject was referred to the Com
mittee appointed to confer with the Canadian
delegates. ....--...-..-
The resolution of the Buffalo Board of Trade
chiefly bearing on the improvement of the Erie
Canal, were postponed until Tomorrow.
| The proposition of the Cincinnati Board of
Trade that general freight agents of all rail-
roads be expected to make general and ma
tional classification of freight and that Con-
gIess be requested to pass laws to prevent inju-
rious discrimination of rates of freight or ex-
tortionate charges in its transfer and give the
weakest individual redress against companies,
was next discussed.
Mr.. Busby, of Pennsylvania, moved an add-
tional clause that Congress be asked to pass
laws favoring the placing of rolling stocks by
| individuals and companies on railways for
transportation of merchandise so that cometi-
ton may lead to a reduction of rates.
RMr Branch thought that giving centralized
government at Washington over railways was
extravaganza and dangerous. Railway and eX-
press companies are dangerous to the country,
| but not dangerous as the Federal Congress
controlling the railways.
Mr.. Rowland of Cincinnati said he was going
to the States through which freights pass, for
redress of evils, not to Washington. He thought
the federal government has too much power al
ready. Unless we can place limits on the gov
eminent, and the whole system of the govern
ment be revolutionlzed, our doom is sealed
Mr.. Sergeant of New Haven moved that the
Legislatures OF the various States be inserted
instead of Congress. The whole matter was
referred to the executive committee
| Mr.. Chickering of Boston, called up the pro-
| position of the Boston Commercial Exchange
recommending measures whereby the weight OF
corn sent over the railways would be guaranteed
to the merchant who received it, so that the
railways shall be responsible to the merchant.
= Mr.. Ferguson of Troy, read a lengthy paper
on the means of securing better railway ser
vice. He said the present charges for passen
gers and freight are extortionate, and warned
the Boards of Trade against the iron rule thai
railway despotism is placing on the necks O
the people.
MI. Chickering moved that the legislatures O
the States be asked to pass a law compellin,
railways receiving freight from connecting line
to weigh the same or be responsible for tn
amount in the original bill of ladng, whicl
was adopted.
Mr.. Gambler of Boston, introduced resolu
tions of the Boston Board of Trade, to the eff
feet that Federal supervision over immigrant
should cease after they had passed through TIN
Custom House, and that their subseuuen
treatment be left to the Iseaboard States an
municipalities. He was opposed to the estat
lishment OF an Immigrant bureau, because h
was opposed to Capitalization. He also read
resolution of the Boston Board, condemnin
monopolies oppressive to immigrants, and a
taxes, direct or indirect, on foreigners comm
to settle here.
Mr.: Chickering said that they had admtte
that in New York there was an Immigrar
Board on which good men took care of the en-
igrants without pay, but in Boston thew oppo
} ep head money on principle.
, Mr.. Ropes submitted the resolutions of I'll
Boston Board of Trade asking Congress to Dr.
vent charges being made on shipping und,
State or municipal law, which charges were e.
= planned to be anchorage, harbor fees and con
pulsory pilotage. The resolutions were referre
to the executive council.
L The practive of cornerng in wheat and 9TH
!, products was brought up for discussion by Il
Philadelphia Board of Trade, and was strong
denounced, and on motion of Mr. Branch
!, Richmond, was referred to a committee.
Y Bank LitigatiOn-Usury Charged.
+ The Comptroller of the Currency has bee
: hearing counsel in behalf of certain directo
and stockholders of the Marshaltown Nation
. Bank of Iowa, who charge that the bunk HI
h been practicing usury since its foundation.
: They ask that the bank be put into liquidati,
under the non-usury clause of the nation
G banking laws. The remaining directors oppo
# the motion and the Comptroller having no pr
, cedent to guide him will afford the bank ;
:, opportunity to go into voluntary liquidatid
before applying only legal penalties for usr
= ions prf slices.
l. Address 10 DespOndcnt Liberals.
o The Liberal Republican National Commit
h have issued an address to the people of t
10 United States charging fraud in the Octot
elections, urging vigorous united action alO
'e the whole line, denouncing those who falter
N TINS emergency as traitors, and claiming til
If an overwhelming victory can yet be achieved
ID Ike will OF Secretary Seward
m AUBURN, Oct. 16.-The Will of w. II. Sc
ara was opened by his family to-day 1t is
y clear, succlnct document, singulary free fro
as legal technicalities and written entirely in
A. own hand: He bequeathed his late house
IF AUBURN, with all its contents and pleasant 81
VI roundlnSs to his three sons by one or more
| which it will dOuhtleSe no oooI,o;od al =,