New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-26

PRODUCE EXCHANGE ANNUAL MEETING.
STATEMENTS AND SUGGESTIONS IN THE PRESIDENTS
REpORT-PINANCIAL CONDITION OF TIE ORGAN
IZATIoN
The annual meeting of the NewYork Prod
uce Exchange held yesterday Franklin Edison, the
President read address reviewing the course Of the
Exchange during the year, and among other things
said the following
Among the favorable results Of our labors during the
year may mentioned radical change in the bond re-
quired by the National Government from exporters OF
favOring conditions OF the market be largely increased
and corresponding encouragement be given TO
reduction of onehird IN the canal tolls on gralnm
in the charges handling grain. when transported by
canal at this port and at Bufalo-a very considerable
from this other ports and, also trust toward the
accomplishment, in the future, Of still greater and
upon property shipped through State canals.
The action Of our members in giving to the Chief Ex-
his manly and vigorous attack upon the fraudulent pac
which had become well nigh hopoessy fastened on
the administration Of the affairs OF the canals, may well
be regarded most important for it is declaration of
our faith IN the future Gona so OF for nss e
business interests represent and which have contrib
nt NE wh U gwcn3 corrton and to
funess of these great arteries OF trade VIII ever ma IN us
problem to which took occasion to refer at the last
annual meeting, and which is treated at some length IN
our last annual report remains unsolved refer to our
efforts to naugurate perfect system OF handling
grain arriving by rail This is doubtless the most i'm
portant problem which We have been called upon to con
slider since the organization Of this Exchange because
upon the speedy solution OF II depends the con
satisfactory solution OF it depends upon the just
and equitable well the prompt and decisive action
ment of this business if would it to this port In
dealing with the subject, we must not lose sight OF the
fact that the welfare of commercial and mercantile IN
terests other those represented upon these floors
are largely dependent upon our acton because b 5ne
important branches of trade in domestic pro-
auss have Sssn Such tos a as G e PsGt
tatons from foreign will also be Diverted and 20 to
for handling domestic products at the least possible
and waste OF time and property Let us trust then
the solution Of the problem may be lost but that
speedy revolution may be had In the present waseiu
The report of the Treasurer, B. c. Bogar showed that
in the surplus fund bonds notes and cash. the par
value OF which 1897 1893 AZ, which cost $35626S AZ,
and the present value of which is estimated at $780,
76S A. The receipts of the year. including tho balance
on hand last annual report were $5S396 80, and the
expenditures, $62,627 16.
VALUE OF CAROLINA CENTRAL RAILWAY BONDS.
A circular of Caution was seen on the street
yesterday which purported to emanate from the Carolina
Central Railway Company 1t was directed against the
negotiation or circulation of certain of their bonds dated
April l. 1874 and said to have been obtained by Edward
Matthews terms which, the circular alleges, will not
permit Of their payment The circular was without sig
nature or official attestaon. Mr.. Matthews told re-
porter Of THE TRIBUNE last evening that he knew who
the author Of the circular which had been issued for
the purpose OF blackmail, by who had formerly
held the Office Of director, and who had sought
to have more controlling influence Mr.. Matthews
stated that the fellow-directors OF this man
found that he had been indicted for perjury
and finally had him removed from the directory. The
Carolina Central Railway was formerly the Wilmington,
Charlotte and Rutherford Railway and was recognized
with Board Of directors OF which the author OF the
circular was one while Mr. Matthews was In Europe. In,
order 10 complete the road certain number of first ands
second bonds ordered 10 be issued with the
unanimous OF all the Directors and stockholders,
including the author Of the circular The bonds
issued the stockholders. pro rata at certain fixed
price and MI Matthews said that he had taken his pro-
portion Of the bonds. Some Of the stock
holders had refused to take their proportion
among them the author OF the circular-and he,
In order that the road might be completed took those that
were left and gave the required price for them. The
organization of the Company had been completed during
Mr. Matthew's absence and he held then and still holds
office in the Company, although owning large pro-
portion of both stock and bonds.
The same person. said Mr.. Matthews had issued previ
Gus matchmaking circulars his name, aud suit
has brought against him by the Company for the
purpose OF recovering damages