Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-03-17
TIE CHAMBER OF COMMERCE
PropoaktIoa 10 Consolidate the Pro.
posed Gotten Exchange.
Resolutions Adopted AZ the KeettnG
Held Yesterday Afternoon.
The Condition OF eur Trade With ARlkan.
sas, Present and Prospective, as q
Forth In an Eloquent speech BIZ
CoIOnea JEAN r. T~ressvast.

sas, Preaene and Prospective, as set
Forth In an Eloquent speech by
Colonel JEAN r. T~ressVast.
A meeting Of the Chamber of Commerce
was hald yesterday afternoon, which was
largely attended. Colonel PInson, presi-
dent, in the chair.
In opening the business Of the meeting,
Colonel Pinson explained the causes aud
objects of calling Il. He said that recent
~ . movement was put on foot In the
city, looking to the establishment Of 8
Cotton ExcnRnge. Considerable discus
sion ensued ~ to the proprietY Of its e.
tAbliEhment. There could be no doubt Of
the integrity Of the motives of the gentle
men engaged in the enterprise. It IVES
Thoughts by wise persons that the Cotton
Exchange would initiate against the in
terests OF the Chamber of Commerce, and
that both organizations could not main
tain q separate snd independent exist
ence. The proposed organization has ref.
erence to cotton only; whereas the Cham
| Der of Commerce embraces all interests
in the city. The preamble OF the proposed
Exchange, which sets forth its objects
and views, does not lay down sny new
/ feature. In fact, the objects OF the Cham
Der of Commerce are nearly the same as
those of the proposed Exchange.
BOTH PREAMBLEs.
Colonel PinsOn then read the preamble
/ of the Chamber Of Commerce, as follows:
Predmble.-To collect q record such
| local and general statistical information
| relating TO N and manufactures
Is may promote the interests of Memphis,
and to protect and advance the welfare Of
the commercial and manufacturing class
es; to promote just and equitable princi-
pies in trade; to establish uniformity n
the commercial uSages of the city; to set
| tie, in a proper and just method, disputes
as to contracts. usages, accounts, etc, and
the many differences of opinion which
honestly exist touching our business rels-
tions; which differences often lead to ex-
/ pensiVe and useless lit~igation-we, the
| undersigned, members of he Memphis
Chamber Of Commerce n Merchants
| Exchange, agree to be governed by the
following rules and regulations.
The other PreGmbJs-Three objects can
be secured by the Exchange:
Ffrst-Thst Memphis cotton be recog-
n1zsd as such, and quotations be given
daily for II, as ts now given for upland,
Mobile, Orleans or Texas. With refer
ence to this there can be 40 doubt as to
its necessity, for every factor would pre-
| fer to know the value Of our own pecU-
liar cotton to knowing the value of Or
leans or Texas, Now, all are left in the
dark, Memphis at present being necesss-
rily clsssed as uplsnds.
Sseond-That our classification should
be adopted, and accurate quotations for
every grade be given daily and furnished
to the press Of b city and to the associ-
sted press. As to this, it required nc ar
gumsnt to convince all of its importance.
ThiTd-That information respecting
/ other markets and receipts at all the ports
should be received direct, without wait
| ing for it secondhand from New York.
| And this is necessary for factors and buy.
ers, in order that they may buy and sell
i~ntelligently.
Another great and important advantage
is that q meeting place viii be provided,
where buyer and seller may meet on COM
mon ground and make known their
wants; where the seller can tell what
grades he has to sell, and the price he
wants, the buyer what grade he wants
and the price he can pay, so that the &C.
tual market viii be. concentrated and
business facilitated; transactions viii be
known and Irregularities, to q large ex-
tent, done away with.
Colonel Pinson thought there was
nothing proposed to be accomplished by
the Cotton Exchange which had not
already been done by the Chamber of
| Commerce, IS could be more fully seen by
the presmbles Of both institutions. And
inasmuch as 1t was thought that both in
stitutions could not flourish separately in
1 kl6 llkyg AO AH0 Co4Ao4 hAnb mocbAuk W SOC
If some compromise or general under
standing could not be reached by which
the various conflicting opinions might be
blended into concert Of action. All the
| objects proposed by the friends of the
Cotton Exchange could be accomplished
by organisation. It was true, many
OF those who are sdyocStes and friends Of
the Cotton Exchange are members of the
| chamber, n had promised not to with
draw from it; but 1t was feared that, after
q while, gentlemen would hnd 1t too
onerous 10 remain members of both or
| CARNATIONS, and would withdraw from
/ either one or other, thus dividing the mer-
camille Influence and power OF the city,
and leaving each institution in alanguish-
ing condition. If both could be CONSOLE
dated, and thus strengthened, or If 8
union Of sentiment could be reached, 1t
might be for tina best interests of all con
cerned. Colonel PinsOn concluded by
hoping that those present understood the
! objects and motives in view in the calling
together of the meeting.
Mr. Patton moved that no one be allow
sd more tbs ten minutes in which 70
make q speech. The motion prevailed.
H ACTION OF THE MEETING.
Colonel Lscey presented the following
preamble and resolution, which he hoped
would be adopted, as 1t would simplify
4 0l0 CAAAk1t Dl14ucEH y = kEbAb G4s6nLa
WHEREAs, The movement now in pro-
gress to establish q cotton exchange in
Memphis contemplates objects, as de-
clared by tbs constitution adopted by the
meeting held in this hall on Monday last,
identical with the purposes set forth by
the constitution and by laws Of this
Chamber Of Commerce; and,
Whereas, This chamber has heretofore
carried out those common objects in all
things save in bringing buyer and seller
together for facilitating their ranssc-
lions; and,
Whereas, To orgsnizs q separate lnsti-
tuition, distinct from the Chamber of
Commerce, would have the effect to di
vide and weaken the influence Of both;
therefore, be It
Resolved, That the President Of this
Chamber appoint q committee Of FIVE
members, whose duty It shall be to attend
the meeting to be held in this hall on Mon
day evening next. and In the name Of this
Chamber ask said meeting to appoint q
like committee, to be composed OF mem
bers Of the proposed Cotton Exchange, to
confer with them with the view Of per-
feeling a plan by which the aims and OBJ
jects of those proposing to establish q Cot
ton Exchange may be carried out through
the regular organization of this Chamber,
thereby doing awsy with the prejudice
against the establishment of q Cotton Ex-
C4Auk6s auO DIOLlObluR 16EulOQN AuQ KDOO
feeling between all the merchants and
business men of Memphis, and that said
committee report the result Of their action
to q meeting Of this Chamber to be called
by the President.
Colonel Lacy explained that the
oBJEor IN VIEW.
The plan which Is proposed to be adopted,
and which was extensively cRnVaased by
the c0tton men of the city Is briefly this:
To have the Chamber Of Commerce
establish, by resolution, q cotton depart
ment Of the chamber, to be under the ex.
elusive management and control OF q
standing committee, to be called "the ex-
ecutive committee of the cotton depart. |
ment of the Memphis Chamber Of Com /
merce," and that all members of the
chamber be eligible to become members
OF the cotton department; the said depart
ment to ave a superintendent, who will
be known as "the superintendent of the
cotton department" whose business will
be similar to that Of the secretary of the
Chamber Of Commences; the department
to ave dispatches, the expense Of which, /
a. well as the cost of the superintendent,
will be borne by b members of the de-
psrtment. b carrying out of these OBJ
iects would necessitate the renting n
IN eligible room by the chamber, and the
mourning of some other uncomfortable
expenses, which would be more than
made up TO the chamber by the addi-
tional members which are expected to
Join.
This plan had been thoroughly discuss
ed and canvsssed, Colonel Lacey said, and
NOT g single objection had been offered 10
1t by any cotton man or merchant In the
city.
The resolution was unanimously adop-
ted.
COLONEL -DICKLNsoN's REVOLUTION.
Colonel Dickinson then offered The fol-
resolution, which was unanimouly
/