New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-03-04
THE COMMERCIAL EXCHANGES.
AN ANIMATED DEBATE AT THE PRODUCE EXCHANGE
DEFEAT or THE PROPOSED AMENDMENTS-THE
EFFECT or AN ANONYMOUS PAMPHLET.

| An ANIMATED DEBATE AT THE PRODUCE EXCHANGE
DEFEAT OF THE PROPOSED AMENDMENTS-THE
EFFECT or AN ANONYMOUS PAMPHLET.
An unusually large and important meeting
of the New-YOrk Produce Exchange was held yesterday
afternoon 1t called for the purpose or acting upon
the proposed amendments to the Charter aud ByLaws
adopted by the Board OF Managers on Feb IL and H.
Before the meeting called to order pamphlet was
circulated opposing the increase OF the Initiation FEE
from $500 10 OOO 1t stated prior to May 1872 the
initiation fees and yearly expenses ranged from $40 to
40 per year; that In May 1872 the members were re-
oured 10 pay 500 each for the purpose OF buying the
building; that in June 1872 the initiation fee was
fixed at $500 and that after February, lSS 1t was fixed
at $500 II that during the past year not
single ticket for membership has been sold and that
many new members have bought their tickets OF Specu
aors below the price fixed by the Association some OF
these SPECTATORS having in the directory nor
any established business any place OF business The
Produce Exchange IL continued, chartered for the
purpose Of exhibiting in place different kinds OF
produce where purchasers can come and buy and Is
contrary spirit Of the charter to fix the price for
the privilege OF buying and selling them higher than
necessary 70 defray the expenses and thus drive trade
away from It. Other proposed amendments were also
severely criticised and though the pamphlet had no sig
nature copies in the hands Of nearly all the mem
bers and the result showed that they not without
effect.
chair and stated the object OF the meeting. The Sec
Rotary read the proposed amendment TO the charter,
which provide that OF the IL six shall hold
Office for years and six for one year. and that here
after six only shall be elected each year Mr.. Reed
asked what was the necessity for the change. The
Chairman answered that had been thought best that
six persons should be retained In the Board who under
stood the wants and necessities Of the Exchange.
Mr.. Smith moved TO strike out the amending words
II ssid hat tha he
one which had been offered and voted down year ago
He thought that the same wisdom which would enable
the Exchange to put good men IN the first place would
lead them to keep them second term. They may be
mistaken and put in who are UNIT 10 be retained
they ought not be debarred from saying He didn't
believe that the Exchange ought to give up their power
to say who have proved unfit for their position
should not he retained. They we're not body OF men
liable 10 be swayed by sudden imDulse they knew their
chosen had been faithful or derelict 10 duty.
Mr. Blanchard thought that proposition which had
been 9 merit up IL Kew do know the
needs of the EXCHANGE Is had been the custom TO put
he wished 10 have this custom continued, though he
wanted each Board TO have clear working majority OF
men fresh from the people. lie moved an amendment
that one-third Of the members OF the new board hod
office for years, aud that eight new men be elected
motion to lay the amendment on the table was lost
Mr. Ferry said that II was TIE same question a. nat ue
delegate TO four SIX men Tor TWO years Ihey
might Se eh INTO Ge Beard %S beS ys %SIp be- ee
u how they put the power 20 do 80 out OF their hands
for two years Tue old Corn Exchange had become so
close corporation that 1t became impossible to reform
H. ana they bad TO leave in body lie would IKE to
interests than they themselves.
Mr. BanChard's amendment was voted down. Mr.
Mr.. Lewis said tn 1t an Erie Classification bilI
MT vanderbilt had said that he had never avaed him
could Judge whether the NewYork Central the Erie
had been better managed
he Sed ann