The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-05-27
THE AUGUSTA EXCHANGE.
It's Aims and Prospects.

The Augusta Chronicle has an elaborate and
glowing account OF the Merchants Exchange
Just established In that city. We make some
extracts:
THE EXCHANGE
Is intended to unite under one head three
great branches of the trade Of Angusta-cot-
ton, produce and stocks and bonds; TO turnlsn
ample facilities for the transaction OF business
In these three articles; TO transact this bus'
ness cheaply and expeditiously, and TO keep
In circulation at home money which ls now
sent TO New York and cities OF the West; 10
establish rules and regulations tor the govern
men5 of dealers and speculaters; to establish q
more perfect system of market quotations. 10
provide means tor the adjustment OF ainel
ences between buyers and sellers on just anu y
equitable principles; 10 lessen the expenses ol
Conducting busiuess; to increase the commerce
and add to the prosperity OF the CITY. AS 70
cotton, the Chronicle Tells us tnat.
ONE HUNDRED THOUSAND DOLLARS.
of Augusta capital is locked up In New York
as margins on the purchases and sales OF
futures, exclusive of commissions, &c. The
Exchange will change all this. Ample iacili.
ties for The transaction Of this business will
be afforded. Futures will, no doubt, be regu.
larly called, bought and sold Tor the dlferent
months. The commissions Will be MADE mere,
in New York, will be retained at home and be
available for legitimate business purposes. In
the small items OF commission and brokerage
on futures it Is believed that enough money
from the city has been expended IN New York
during the past twelve months to support the
Augusta Exchange for the next hve years.
Besides this, the Exchange will cause large
increase In this business. Parties who desire
to SPECULATE would much prefer 10 operate
through their factors In this city, as the money
will bs at home, and they will be enabled to
watch their ventures more closely than il
abroad. During the hours OF the COTTON ousl-
ness,
THE LATEST QUOTATIONS
from the two great markets-LlVerpool and
New York--will be received by means OF the
telegraph wire above mentioned, and Will De
posted In large aetters on blackboard, from
which they can be seen by every person IN the
rooms. The Exchange will also give and re-
gulats the quotations OF the Augusta markets,
and these reports will always be bona tde and
entirely correct. Another Important feature
of the Exchange will be the
STATISTICAL INFORMATION
relative to cotton which 1t will furnish. One
of the duties of the secretary or superintend-
ent will be the collection OF cotton STATISTICS.
These will be arranged in convenient form for
reference, added to from day TO day, ana kepG
In the exchange rooms, Wn6Te Gucy Cah oC any
time be coneuiied. Subject to the control OF
the same constitution, president, vice -presl-
dent and board OF directors, but regulated Dy
different rules ind regulations, will be the
STOCK DEPARTMENT
of the Exchange. From this department
much of good to the city aud her citizens is
expected to be derived. Properly managed,
as we have no doubt it will be, Augusta will
become the great stock and bond market, the
money centre of the Southern States: The
trade in securities Is already large-larger
here than In any city OF the South, with the
exception OF New Orleans. The local trade
alone is enormous, the extracts frcJ, The
comptroler's reports, which We published the
other day, showing that the amount OF stocks
and bonds held by olLizens OF Augusta was
more than double the amonnt held In saYan-
nah, the chief seaport of the State, with dou-
be our population, and ten times the amount
held In Atlanta, which city also claims lar
ger population.
WILL IT PAY?
Is the question which has been asked about
tue enterprise. It will, undoubtedly. The
Initiation lees and annual dues Of the mem
bers who have already Joined will more than
pay all the current expenses, 1t 10 believed,
such as room rent, secretary's salary, tele-
graphing, &c. while the benefits which each
member will dertveare almost incalculaole.