New-York tribune., 1875-05-11
EXCHANGE TOPICS.

VICTORY OF TIE INDEPENDENT" TICKET AMONG
TIE STOCK BRoKERs-A NEW SPECULATIVE EX-
CIlANGE-rnE PRODUCE EXCHANGE ON GRAIN
CHARGES.
The election of officers ut the Stock Exchange
yesterday excited a great deal of interest among the
members and there much earnest oanvassing 'or
votes Four tickets were in the field, but the two winch
attracted tho voters were the Rcgular" ticket headed
by John r. Denny, and the "Indepcnden," headed by
George W. Mclean The polls closed at p. H., and
the ballots were counted in Of the upper
rooms on The Will-St. SIDE At 420 p III.
IL was announced that 7s9 votes had been east ana
that the result was the election OF George W. Mclean,
as President by five majority The vote on the rest OF the
ticket was not canvassed, hut It is understood that B
O. White has been reelected Secretary, and d. G. Hays
Treasurer The vote is the heaviest and the result the
closest ever known in the Exchange. As the tel
ers reported the friends of Mclean adjourned TO Del
monlco's TO celebrate the event.
singular Exchange is to be formed In Waist. for u
long time past the members Of the put" and "c1ll "
fraternity have had status IN speculative err
cles Tho stock Exchange does not recognize
transactions in these stock privileges, and the yonlhs
who scour the different offices with view to obtaining
orders for the purchase and sale OF these articles are
only tolerated because they TO certain extent nse-
fu With view 10 facilitate their business and to ae-
quire position il possible among men OF business
hee dealers have concluded to form exchange for the
express purpose of dealiD I'm puts" caus, SPREADS
and straddes." meeting held yesterday, AMI q
committee was appointed to adOlt form OF oreaniza-
ton and submit this at meeting 10 I've called at future
time About 80 members will Join Immediately.
The Committee appointed by the Produce Exchange TO
20 10 Albany TO advocate reduction In the canal tolls
on grain left the city last evening and will make their ar
guIncnt to-day Tho following letter has also been sent
EEw-YOIK PRODUCE EXCHANGE, May 10, 1870
IIoN. d. H. OLE, Chairman ScRnS CGnG COniHNtee
DEAR FIR: For ti inorm5tiOn Of yOr Committee, we
hee rs ain to call Your attention 10 the expenses attend
in the transfer Of grain brought by canal to this port,
Weighing, 81 per bushcl loading ocean vessel IS
cent per busr total 25lo cents per bisht or II grain
is cleaned an additional charge of a cent per bushel
II the grain is sold 10 home buyers. the charge for
loading ship, . per bushel is saved, making the
cos: only p cents p'r bHshcl
IL will be sSp Therefore that the charges depend upon
the direction that the grain takes on It's arrival here.
cecdng 23,o cents per tushl ccaned i cent add
tona During last two years, certainly 80 per cent
OF brought here has taken tins course and
rcforc hEr Icd less than zig cents per snc ter
mna charges The other cngcs luenioncd III Tie report
o! the Senate sub Committee Terminal Charges. only
when the owner or purchaser puts gram lno store
for speculative purposes, TO hold Tor naKct ana
then th vessel usually directly TO tc store thereby
saving tho 1l2 lghteTagc. We nave thought IL
best 70 say this feel that the Report of the
Senate Committee this subject is calculated 70 give An
erroneous impression relative TO the charges On gram
brought here and prejudice shippers in favor Of other
and rival ports We remain, dear sir very respectfully
yours, tRANhjIH LpsoH; 1I'NiaeIit'
WM. IL. PHILIPS, Secretary.