Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1872-10-17

NEW YORK, Oct. 16.-The national board of
trade OF the United States, together with a del
egatiOn from Canada, TeaSSembled this morning
in the supervisors chamber city hall President
Fraley in the chair. Mr.. SranahaD of New
York informed the delegates that their ladies
might accompany them gu the trip down the
bay, rendered them by the chamber of com
merce.
Mr.. Opdyke of New York presented memo
rial from Samuel A. Rugsles on tue return to
specie payment, and from VIM. c Waddel on
uniform International rates Of postage and on
transportation OF products Of the Atlantic states
to the seaboard, which were referred to the ex-
ecutive committee.
A resolution offered by Mr., Fisk of St Louis
advocating the opening up and utilizing for
agriculture and commerce the territory now
occupied by the Indians, and a paper read by
Mr. Burnel of New Orleans on reciprocal reduc.
ton of import and export duties by the United
States and other countries, were also referred to
the executive committee.
On recommendation Of the executive commit
tee, resolution was passed condemning the
practice of the issue of scrip dividends, the
watering of stock and the issue OF stock without
full money equivalent by incorporated compa-
MES
Mr.. Rowland of Cincinnati submitted reso-
luton that tue executive committee memoriaze
the different states where such laws do not ex
list, Tor the passing of laws that will punish the
issue OF spurious warehouse receipts and pro-
tSSt NV hbiuIlS VI WdIGlOuSG receipts tuu make
them negotiable, like other commercial papers.
Mr.. Hoffman Of Philadelphia objected to the
resolution as not specific enough and recon-
mended referring back the subject TO the execu-
tive committee.
An able paper on warehouse receipts and the
protection Of merchants property in grain ee-
yatorS along railway routes, was read by MIR.
Holton of Milwaukee. Several suggestions were
| made to the board on this suDiect-among
| Others, that owners of grain elevators be
required 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.. McLave called up resolution of the New
ark board of trade, condemning the 20 per cent
| duty on Canadian lumber as raising the price
| on consumers and leading to the destruction
| of our own forests He showed that at the rate
of cutting OF 1869 in the great lumber producing
| state of Michigan, in less than seventeen years
the state would he denuded. The reduction to
S2, gold, made by congress was insufficient.
Mr. Witherell of Philadelphia asked whether
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 5 per cent, mere
commission. Further reduction might ruin our
own lumber trade, while serving the Canadian
trade. The subject was referred to the commit
tee appointed to confer with the Canadian dele
gates.
Mr.. Chickerng of Boston called up the prop
ostion of the Boston commercial exchange, rec
ommendng measures whereby the weight of
corn sent by railroad would be guaranteed to
merchants who received it, so that railways
shall be responsible to merchants.
MIR. Ferguson of New York read a lengthy
letter on the means of securing better railway
service. He said the present charges for passen-
gers and freight are eXtortionate, and warned
hGar do AF kI,a 10, ~,
way despotism is placing on the necks of the
people.
Mr.. Chickerlng moved that legislatures of
states be asked to pass a law compelling rail-
roads receiving freight from connecting lines to
weigh the same, or be responsible for the amount
in the original bill of lading, which was
adopted.
Mr. Gambler of Boston introduced resolutions
of the Boston board OF trade 10 the effect and
that federal supervision of emi9rants should
cease after they have passed through the custom
house, and that subsequent treatment he left
to the seab jard states and municipalities. He was
opposed to the establishment of an immigrant
bureau, because he was opposed to centraliza-
ton. He also read resolution of the Boston
board condemnng monopohes oppressive to
immigrants and all taxes, direct or indirect, on
foreigners coming to settle here
Mr.. Chlckering also said they admitted that in
New York there was an emigrant board in
which good men took care Of emgrants without
pay, but in Boston they opposed head money
on che principle that the emi9rants should land
IN Boston without being inteTfered with by run
nerS or any one else; land direct from the ship
without charge, and with as much baggage as
they like, and take the cars for the west; let
America open her arms to the oppressed and
enterprisng Of the world, without any interfer-
ence, leaving their protection to police super
vision. The resolution was adopted.
MIR, Ropes submitted resolution of the Bos-
ton board of trade, asking congress to prevent
charges being made on shipping under state or
municipal law, which charges were explained
to be anchorage, harbor fees, and compulsory
piotage.
Mr.. Wetherell of Pennsylvania said that if
they were going to Washington upon a very
trifing difficulty, the state lines may soon be
obliterated, and there may be no United States.
The proposition was vigorously opposed on the
ground that if the pay of pilots was reduced
pilots might not be had when wanted, and in
surance would be increased. The resolutions
we9 referred 10 the executive council.
The practice of cornering in wheat and other
products was brought up for discussion by the
Philadelphia board of trade and was strongly
denounced, and on motion of Mr.. Branch of
Richmond was referred to committee. The
delegation of the St. Louis union merchants ex-
change took places IN the convention this after
noon.
An excursion down the bay, given the dele
gates by the chamber of commerce, takes place
tomorrow.