The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1874-10-06

TARY-ELRcTIoN OF MANAGERS.
The annual meeting of the Board of Trade
was held last evening, Mr. VIM. II. swift in
the chair.
Me. Gee. W. Stone, Secretary OF the Board
read the following:
ANNUAL REPORT:
BoAD TRADE Rooms.
October 9th, 1874.
Sere,lM Annual Report Of the Managers to-
the Wilmington Board Of Irddc
The year which has Just closed, as you are
all aware, has been one OF great depression.
Every one OF our industries have suffered
more or less except possibly the morocco
interost) and We close the year without any
immediate prospect of better times. This Is
not the place to discuss the causes OF this gen
eral depression nor do we feel competent TO
suggest any remedy. The only comforting
feature We have 10 call attention to is that
the depression is not local but National
that the cause did not originate with us any
more than with other and larger business
centres, Various causes are assigned, the
principle ones being-natlonal and lndividu'
al extravaganza, disordcred and imperfect
financial systems, and ovei trading or too ra-
pid commercial and manufacturing growth.
Many remedies are suggested among them
Temporarily Of the amount of manufactured
goods. This is being done in New England
and elsewhere in the cotton, woo.en and
iron trades, and the third q greater economy
in conducting the business OF both govern
ment and individuals. Notwithstanding the
greast depression in business wcaIc gralltied
to be able to re cord the fact that but very
small number OF enterprises have failed alb
solutely. There has been a great falling oil
in the gross amount OF the value OF goods
produced and considerable reduction in
prices, but there has been no decrease Of IA
clities for production. but rather an increase.
We have a very considerable addition I } the
iron interest in the new mills 1.-THE Christi
ana Iron Company, the Mccullough Iron
Company, and also the extensions OF Messrs
Pussy, Jones j. Co., and John Marshall &
Co., OF Newport, practically i'll Wilmington.
Since our last rcpoIt also the Edge Moor
Iron Company has commenced productions
| all our iron mills are in good order and ready
1 for business when it shall offer, and when
the iron trade does revive Wilmington will
be in shape to nearly if not quite double the
value of her annual production Of that ma
terial.
This is very gratifying, and the sam,
might be said. in less degree perhaps, o
nearly all our industries.
Among the items Of interest is on,
more encouraging than the rest. IL,
morocco interest has at least "hcld it
own during t he past year. IL; year com
pairing favorably with any p Gems
year. About the usual amount husi
ness has been done, at about tl, Il ma
profit, but is only Just to refer TO the fac
that this business suffered heavily fo
Iseveral years when ron and other branch
e5 Of trade We're generally prosperous
Cars and carriages, and the kindre'
branches. have been very dull and un
profitable. 1t is not thought advisabl
to prepare any extended statement Of tn
business Of the city for the past year, a
such statement as Is usually made i
this report would necessarily be very in
perfect and unreliable and Therefore III
satisfactory.
Our own Board has been no ezceptio
! to the general rule. and finds 1t nccessaI
to economic in the matter of expense
and will therefore omit this year recon
= mending the publication of any annu;
= report.
I The subject Of the erection Of a gfai
elevator has been before the Board sew,
raj times, and Il committee Of the Boar
e is now engaged in collecting statistics
D the amount of grain actually receive
I and shipped in this vicinity, and est
-, mates of what might, with proper etfol
i and facilities, he done II this line, t
d gether with the probable cost of an ell
t vator. We earnestly request the ne
@ Board TO take up the consideration
- this important subject at the Garlic
r possible moment. and, if possible,
push it to an early completion.
@ AS closing remark, there is now I
cause for encouragement We are
L well off as any of our sister States, al
better than many. We must soon hay
a revival of business, and let Us leave /
s means unused to be ready to move il
n stantly when that time arrives
! Respectfully submitted for the man
e gers. GEORGE w. STONE,
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