New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-24
National Board of Trade.

The sixth annual convention of the Ma.
tiOnal Board of Trade assembled at Music
Hall in Chicago at noon on Tuesday. Presi-
dent Frailey, of Philadelphia, called the
body to order. and the proceedings were
opened by prayer by Rev. DR.. Goodwin. of
Chicago. The delegation from the New
York Produce Exchange were admitted 20
seats with an address of welcome. Secre.
tary Randolph, OF Chicago, called the lis.
of delegates. There is large attendance.
nearly every city in the country being rel.
resented, but the list Of delegates is yet in
complete. i. F. Swan was chosen assistant
secretary. b. F. Culver. president OF the
Chicago Board of Trade, delivered an in.
teresting address Of welcome on behalf of
Chicago and her business boards, which
was briefly and happily responded TO by
President Frailey in an eloquent tribute to
Chicago.
The report of the executive council, its
action during the past year, was read. The
report recommends the encouragement of
ship building by the allowance of bounties
for building, whether the materials used
are foreign OK American, condemns che
credit system OF government promises to
pay and the national banks founded there.
on demands a currency resting on specie
basis; condemns the policy OF banks paying
interest on call deposits, tavors the govern
ment regulation OF Interstate transpOrta.
ton and the reduction of rates 40 that the
producer may share the profits OF his pro-
duce, and condemns the system Of watering
stocks SO that dividends are paid on a tcti.
tiOus representation of value. The cOnyen.
ton then proceeded TO an election of Off
Gers, Mr.. Smith. of Milwaukee, presiding,
and President FyaiIsy was unanimously TO-
elected.
Upon resumption Of his duties. the presi.
dent made a brief address expressive of
his thanks 70 the body for continued mani
fes'a+ion of their regard and confidence.
Tho following Sics presidents were !then
elected: c. E. Cu.ver. Chicago; 8. +. Car
ringtoh, Cincinnati; Z. r. Dorr. Buffalo;
H. p Bridge, Detroit; Henry J. Latham,
kee 9. c. johnson, Newark William N.
Burwell, New Orleans; George Opdyke,
New York C.. j. Hoffman. Philadelphia
E. G. Hersey, Portland; William Gros-
venor, Portland B. r. Bonner, st. Louis;
B. +. Nourse. Boston.
Pending the election tho chairman ap-
pointed Messrs. Howe, of Chicago: Boyn-
ton, i New York Marsh, of Kansas City:
Davis Of Cincinnati, aud Haskell. OF Port
land, as q committee on credentials, 60 con.
slider new applications tor membership Of
the board.
A delegation from the Dominion Board Of
Trade was announced. They were received
on the platform, and welcomed by the pres
ident.
The welcome was responded TO happily
by Vice President Rowland, of the Domin-
ion board, and by suspension of the rules
the committee was appointed, to which was
referred the subject Of transportation facili-
ties. The committee is: GrOsvenor, St.
Louis; Howe, Chicago; Smith, Cincinnati;
Startnew, New York; Allen, Philadelphia.
The committee appointed to consider the
subject OF the Canadian reciprocity were:
McLaren, Milwaukee; Bond, Boston; Boyn-
ton, New York; Taylor. Cincinnati: Drew,
Chicago; Haskell, Portland; Harvey, De-
trot. The subjects of reform of the cur
rency, national banking and the national
banking law will be referred to commit
tee to be appointed by them in the morning.
The Dominion Board of Trade was IN
vited to choose delegate to confer with
the committee on transportation, and
named Hugh Mcclellan. Thomas Whites
communication from General Stager, super
intendent OF the Western Union Telegraph
Company, rendering the free use of the
wires OF the company to delegates tor pri
vate and family dispatches during the ses-
sion of the board, was received and accept
ed with thanks. The invitation of Carpen-
ter g. Sheldon, managers of the Star Lee
ture Course, to attend the reading of Har
riet Beecher Stowe this evening, with free
tickets. was accepted with thanks. They
decided daily sessions be held from ten in
the morning to four in the afternoon.
Adjourned to Wednesday morning.