Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-03-30

lug WHICH the CklanlDeI COHbiutcG "
watch the commercial anu industrial
interests of Memphis.
ANNUAL MEETING, 1873.
At this meeting Mr.. J. M. Pettigrew
was elected president; d. T. Porter, s.
NJ. Gates and CouIton Green, yice-presi-
dents, and John Il. Williams, treasurer.
Owing to the epidemic, which COM
menced in September, nothing was done
by the chamber until January of the
present year. The chamber elected Mr..
John s. Toof secretary, and now occu-
pies the rooms with the cotton exchange,
corner of Madison and Front. The 4
chamber has at present about one hum 1
dTed and fifty members, and is in a
pre- sperous condition.
A VISIT TO ITS ROOMS
will show complete, set of books and !
figures, giving information and statistics !
relative to the movement OF leading ar !
tieles to and from this market. This |
feature is kept up with as much regu-
larity as in any city IN the Union, and |
furnish invaluable 6tat0 for the govern !
ment of commercial transactions. The
arbitration and appeal committees are
made up from among our best and most
intelligent merchants. To these COM
AAAAttCCo SACe OCALez OCASbOsASAJ ANA~AN
cases between men unable to agree, and
some of the cases involve very large
amounts. These are usually settled in a
very short while and with entire salts
faction by
INTELLIGENT COMMERCIAL MEN
who comprehend the nature Of these
questions more readily than ordinary
juries. These cases are arbitrated at a
trifling cost and avoid the expense Of
litigation. These are some of the rea-
sons that appeal to the public for sup
port. Among the questions OF 1mpor-
tance solved this year is to be found in
the prompt report made on the Selma
railroad collateral proposition. Among
the valuable measures inaugurated was
that pertaining to the improvement Of
the city's sanitary condition. The me-
mortal to congress for the improvement
OF the FOrked Deer river is of 40 little
Importance to Memphis.
OTHER QUESTIONS.
such as that of the "union depot"
privilege tax" and organization of
branch Of the Mississippi Valley society
are receiving the encouragement and
assistance of the chamber. The epi-
demic having prevented the collection
of dues, the chamber commenced this
year largely in debt, which, however,
has been materially reduced, so that It
is only necessary for the business men,
manufacturers and property holders to
place it
ON A SOUND FINANCIAL BASIS,
and the advantage derived will more
than compensate them for the expendi-
ture they may have made in behalf of
an institution aiming only at the pro-
motion of our public good. Its history
has been eventful, its friends the best of
our community, and its future must be
like that of Memphis-bright or dark,
according to the aid and support of our
citizens.
THE COTTON EXCHANGE.
The Memphis cotton exchange was
called together for organization Decem-
ber %, 1873, by Bronson Bayliss, Esq,
Mr. John s. Toof acting as secretary.
This meeting was made pursuant to
call of the fifty-tive subscribed members,
most of whom were present. Mr.. Bay
liss, upon taking the chair, stated that
the objects of the meeting were to Or
ganize an association to be known as
the Memphis cotton exchange. In ae-
cOrdance with this, Messrs. ]. J.
Rawlings, A. A. Patton and r. s. Jones
were appointed committee to draft a
constitution and bylaws to be re-
ported for adoption or rejection
meeting adjourned. The constitution
and part of the bylaws reported
by the gentlemen who had the honor to
compose the committee, were adopted
the next day. The officers of the ex-
change, are w. b. Galbreath, president;
Bronson Bayliss, j. J. Rawlings, A. A.
Patton, ::viee-presidents; r. G. Daniel,
treasurer; WV Gny, Napoleon Hill,
G. f. Smith, A. ]. r. Landauer, J. T.
Stratton, ]. T. Petit, Il. II. Hartmus,
directors; John S. Toof. secretary and
superintendent; w. P. Semmes, assist
ant secretary and superintendent.
The following are the
STANDING COMMITTEES, 1S73-74.
Committee on Statistics and IafOrnld-
ti0n-W. P. Proudfit, chairman, Sam
NJ. Gates, S. NJ. Anderson, ]. r. Good
win, Thomas H. Allen, w. F. Taylor.
Committee on Classification and quo
tdtiOns-A. G. Treadwell, chairman;
G. T. Curtis, Ralph Wormeley, George
Latham, a. N. Estes, A. NJ. AgelastO,
Napoleon Falls.
Committee on Menlbership--O. B. Par
ker, chairman; J. W. jefferson, T. b.
Ballard, John T. Hillsman, M. G.
Committee on Finance Hill,
chairman; t. H. Hartmus, J. 7. Petit.
Committee on Trade-R. S. Jones,
chairman; FL. NJ. Nicely, M.,H. Katzen-
berger, w. Il. Eustis, G. G. Clay.
Committee ON AppeGls-J. J. Busby,
chairman; Louis Hanauer, A. N. Nc
Kay, A. Scarborough, Philip Durfree.
Committee on Arbitration II. s. Ely,
chairman; r. M. Bradford, John A.
Shane, Charles Fisher, ]. w. Dickin-
son, A. G. luther, Samuel B. Carver.
Committee on Credits-Hugh Tor
rance, chairman; r. L. Coffin, F. M.
White, w. c. Rutland, T. B. Haynes,
A. J. Roach, William Bath, George A.
Cochran.
Committee on IroyasportGtioB-A. ].
r. Landauer, chairman; E. M. Apper-
son, w. P. Proudfit, w. w. Guy, R0bt.
Gibson.
ITS OBJECTS,
The object of the exchange may be
cleaned from section one, article three,
of its constitution, reading as follows:
"The purposes of this association shall
be to provide and maintain suitable
rooms for a cotton exchange in
the city of Memphis; to adjust contro-
versies between members; to establish
just and equitable principles, uniform
usages, rules and regulations, and stand
ards for elassifieations, which shall gov
ern all transactions connected with the
cotton-trade: to acquire, preserve and
discriminate information connected
Herewith; to decrease the risks incident
thereto; and, generally, to promote the
interests of the trade and increase the
facilities and the amount of the cotton
business in the city of Memphis"
ITS PROSPECTS AND WORKINGS.
The institution is now regarded as be-
ing thorough in its working, and fur
nishes as complete and reliable system
of information regarding cotton transac-
tions. etc., as any similar association in
the United States. Every item of tele-
graphic information that can be of ben
fit to the cotton interest is received
every ten minutes through the day,
from nine O'Clock in the morning until
half-past three in the afternoon. These
kilograms are posted on the boards for
inspection by members and visitors,
and also copied into books as record
for future reference. A complete pano-
rama is thereby had of the fluctuations,
sales, receipts, imports, exDorts, stocks
and movements of cotton throughout
the world. The rooms, at the corner of
Madison and Front streets, are thronged
every day by members, prominent