, 1876-01-11

tHEs BlTuRHIS TART kne f4ltH1u4 lGF
crossing OH a,nie ~lthin 5oo mcs ieslR es.t.
v e. s. sa'na saa,a 10 q soss 1ssr
mil Ia it'll condition Il o',r II i.Se Ike rnarinc i n min
ss.s roas ;na no r.
so, e hs;, s Tss ,
to 10 lhnd tt II not 10 Ia ilentctl
FoRMInAnLE COMPETITIONS
e,sn n, ,gainnt tle grsst ffe9 water eo,nmuneaton
Of these roaaa is 10 result In their ctlre condse.o.
they viii ceaas 70 t. compesiioss. ~ R Tfs eity al,onfi
bo content with the dvo trunk lnea Of railway
s o1 q 5 m r.
rtycr. the Erie Cana. the Now Iort Central ltasoai
with four tfncks 10 lsuao, ana An e1eTasorsysse Ut
Now foff cH5, to Inaintafn onr supremacy II tho
gre.s Er.,n aso. cf !he Vest = our l.te marine
in Chicago and other lake ces could batter aord to
subsiaIzo II tann to s-e Il fanalah anu do.
TIE sunJEcr OF p!ncniMiSATtoNs
agnet tho interests Of ts city ts that Isnnnda
os,r attention, snd II combinations fo,l4 10 oxst
which hare for their object which In affect produce
be fall in exposing snd 4 rostlbe, !lsso!1ng thp,.
We do not ak TINT special fa1os shsll 10 granted to
ps5oPsy oyed u t. 0 from s ey Shhag tso
IN demanding Il. This Hnbjcct hta l,etn lraVht to
tho attons!on Of tho Hoard, hud committee appointed
70 n7esgatc, who src expected to report ut an early
day.
TIE rITAsc1A1 CONDITION OF THE COUNTRY
and return to spocc payments src subjects on which
board OF Trade rhoao r1onots1y trauaa aclious roach
annually Into hundreds Of millions should hnvo sumo
thpg to Say in our annial record. Tho paasago Of
payments % jan. I, 49, decided f.atre ia tas
present situation, and has been subject Of wto dis
ia eosauy T. res M e 1a @
Ahil! has bcon introduced in hs unttod Ntates seto
within fsr syo . fnelltt.te ths Eroest snd etnsr
traslon arc pending bGfoto ConKrtaa, For iuutb
thah two sears past thare has been a Tery msrkad
usory :5sItnen. q {e sud song = al I Glasses Il a IL
peF: IN tho Of
we'll calculated To ayoft OF ralato an otcrso inevit-
ano nanes ,d Of greater or sss
IN this wy 1t aecus TO bo tic duty ot ono aud ali 10
nnstsp1ts n BY 9soy prore' saus @ tho Rsroa a.el BY
tho prous!ng I'D nisria elassss i ta.t tbs do.r
which they rcceiE for the products Of tho soil a ot
.hs wo,ssh9Es sas5 hs monG7 y fast - wsa ~ 10
Zero With Tho consutnmation Of tho desirsl end.
aiA. akoRaa AHMeUH
sired 70 nay law words lia awars thas 10 ras
defective p h!a xork yet Tue nlsnhezs bad always
most courtoay an, constdcsation aud he hoped that
thh now President and Bo,sl would 10 gnaie llko-
w!nc. [Aprauac.1 liz then introduced the newly
eleetol President.
MI. J. Il. bEssLEr,
who Was rtccivrl With cheers aud applause. Ie nd
aresscd The neotin8 a. follows:
express my thinks for tina distinguished honor you
hayo contetrsd apon mo BY selecting mo to preside
II b.1o | a spprecatoa ~ Il the ae::pouslbty that
attaches to tho position TINT am to occupy. 1t would
bo sonewbat embarrassing to ne 10 b called upon 70
presldc any largo body Of un, but to be called
uron 10 prcslle over anil admnatcs tho adaiss Of an
Association, where each Of ita 2,000 members u Ito
i ts sas rssho ssatS s ,,e
and conaratulsto the Aaaocat,on hat not csllcA
t%s neasia1S d T. :ns sa.sa as ,a nsvs
most excellent Duard Of Directors with tho coopers-
lion Of there aud your own eoEd!sl support and gen.
With reasonable dcgroe Of satisfaction to u, Naard
The p.a: yssf has Goca M os Of unusual psosps.y to
nees.e h.e ana aaea lRs niss tn.nts ts'S
1s,abs Gns bsfF ss9en spg md
The cyclic Of as Centuries tlen onh On tho dial Of our
national existence During tho lust past quarter Of
taels cager arma and claspei sentiment In their
brace. With wonderful osertty have tho courage and
saesp1i.e os eaptnl seconded the eetts af ths MN
cd n iroa bands tho rapidly doma'n 9na M
yssiea i'eEs,s Of ygS1ou. 9ton9s E.psc.y ss
eouins rcial capital Of this magnificent section. ~
Saa Of sa, q ehes a' e1 &c h
iand, is duo tho efed. Of malsns tits ssoat Nostf
wcat, what # now is. tho cnnftafag commercial,
not tho polis'csl power OF tho country. Fur twsny
years this Association has desoted It's highest ability
70 N? dsvelopin9 aud Perfestlua Of tho best
ns H. Il ist asnan II as sa vs ss'hsn srI
tory. How W. haTs succeeded H Shown in the fact
nhch T. n .. hande srn Of and aat
VIC are constantly besomtng moro aud moro the goy
I eraag market os tho o2ntintnt.
boea compelled 10 w1cstlo with Influences this. Atnu
haya boen our alAes, and not our enemies. asnp'
LEGISLATION, the bter er4tcas1n4 os soetmca not
oyerscruuous preAs. hare n contributed Ia turn to
mako our path 10 SUCCESS both tedious aud rugged.
Thanks to mora extended commercial intercourse
sud consequent better understanding ol what s f0r
nhtcr!al benet, thcas various AMI adverse inuunuea
uampcrca by u1lwiss Il nut tostitc, Icgi.latln trlo
IN tho IRE. centre'sook but not shattered by thu
;ssaa M ss Th AID h
rcotdtst monument to American euergy mad Western
pluck In tho whole Union. It II hcainnug to
existing hero for storings hypothecauug. buying, sell
ins, or forwarding, ols agricultural products, ase
81 s Vos ioE a
for Shipment upon tho floor Of our Exchange. Thi,
makes ou. own n maI1st tae gse.t nal,nes-Thesl :,
tho prodncer and tho consumer heroby preventing tc
great extent tho srsAtfM deps.aslon4 III l1ce4 sla
10 DO prec!pitsted directly upon Tho consuming por
xnerainB, II tisIs does. zaru opportunities 70,
| speculation. wo have always ready market. Till
ftnturo Alono hae added millions to tho wealth
If the producing clauses. TO tho end that no mn,
maintain high commercial staul1ng, II IL neccs
aarJ TINT enact wlsa and stringent rules aud en-
forco tien too: The yeEy tIst principle that un.cr
Aes confidence In that OF tho tnvotabiEty OF IN,
couttaet between tho embcrs OF this Board. Wh,lo
Am no ftcul 10 any Tulo that would put EnEmhcrt
iii Joops.dy Of becoming tho victims ot conspiracy t.
e4tort moauy. vt botter BY far au tornrrs thai
would occuF With their consequent dlsaater 10 eonae
than that should inacr!bo upon escutchcou III.
damaging hetsay Of even rarssa! reputation. LII
neither OF Tho Two s1trcMes Is desirable necessary
This 10 not tho tiuo, or tho place. the mAnnor II
| which to propose amendments tu our rules.
Hutlce 1t TO say that II It IL done, It should bA don.
with tho grcatust care. Already hays among th
Ia,lrnu1a Ut agtattou,-thc aro prelude to lcstttl
rofotIn.
This year may 10 vory Justly regarded as Tho ons ii
Which wo aro u cmeEge from 1ur Joulhful stage lns.
tennta, aud with !ts aayont comes tls uL,nstalal
agns of returning confidence aud renewed roapertty
Standing II VIZ do IN tie very door Of Opportunity
shall BE- false 10 ourselves aud false TO lhoss VIII
are 70 follow In our fooateps here, II we do not ru
our ASSOCIATION upon SOUND and enduring l,aat. il
order to insure tho lc5petAlty Of aud conformity