The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-11-29
New ORLEANS COTTON ExCHAhGE
New Orleans, November 20. 1S77.

New ORLEANS cotton ExCH afaIE, |
New Orleans, November 20. 1877.
To the resident and Board Of Directors of the
New Orleans Cotton Exchange:
Eenhemen-The undersigned appointed by
the President. under article q of the bylaws
Committee on Books. have thoroughly exam.
med the records of every department of the
Exchange. including the supervision. levee
inspection. treasurer's and superintendent
cash, stat istical and other books, and find the
same 70 have. been properly posted and satis-
factOrily kept IN every respect.
The DeatneSs and care evinced in keeping
and posting tDese records are especially COM
Respectfully submitted.
EDW. MURPHY,
COMMITTEES on Books.
1t will be seen from the foregoing reports
that the receipts of the Exchange, applicable to
the expenses Of the year 1861 were 1851 So in
excess of the outlay. TO meet the requirements
of the coming year, we had on the first of No
vember billie for dues in advance amounting to
$50 $780, of which s25,33o have already been col
lected and all but three or four hundred dol
lars of the balance will probably be covered into
the treasury prior to the 18th prox. Interest
and fees of new members and visiting members
will probably amount to upwards of 5000, and
leave a surplus of that amount over the esti-
mated expenditure for the year.
It must be borne In mind that the So per
share to be paid stockholders ara not to be de-
Quoted from the amount credited to capital &C.
count. but is a part of the surplus remaining
over from last years general .oeeipts of the
Exchange proper.
A motion was Offered that the thanks of the
Exchange be rendered to its President for his
fidelity and most faithful DISCHARGE of duty.
The resolution was carried unanimously.
Mr.. Black, in an earnest manner. referred to
his connection with the Exchange and the
hearty support he had received from its mem
bers. He alluded to it's success. and in well
couched terms spoke of the effect its organiza-
ton had had upon the cotton trade here.
His well timed remarks were cordially re-
ceived.
Gen Cyrus Busy then made a motion that
Congress be memorialized and that our repre-
in Congress be reques ed to urge an
increase in the appropriation of the Signal Ser
vice Bureau. Carried.
A. D. Cammack, ESQ.,. gave notice of his inten-
ton to introduce at some future time an amend
ment to the cons tuition of the Exchange, limit
ing the number Of stock members Under the
rules this was laid over.
Gen. Bussey suggested that some time ago it
was learned that the Red riv~r rat had again
closed that river, and the President of the CO..
ON Exchange had telegraphed the fact to the
Secretary of War. That gentleman had quickly
responded and removed the distractions. He
therefore, moved that The thanks of the Ex-
'hange be rendered to the honorable Secretary
IF War. Carried.
A vote of thanks was then offered by A. II.
May. ESQ to the chief supervisor, Mr.. T. 0.
Sully, and that gentleman. for his efficient SER
vict rendered during his term of office. re-
,eived the unanimous vote of the Exchange.
The meeting then adjourned.
Read Navra's invitation to the China Pal ace.