New-York tribune., 1877-05-30
WORK OF TWO EXCHANGES.

erccrsTIoXs CONCERNING NEW -YORK's COMMERCE..
Large attendance, good spirits, and general
satisfaction with the condition and work of the Ex-
change marked the annual meeting OF the Produce EN-
change Yesterday Congratuatory remarks and votes OF
thanks to The officers pleasant features OF tho meet
inn In President starks address reference was
made TO the meeting of the National Board OF Trade In
this city last June which had done much toward pro
noting a better understanding of commercial affairs
throughout the entire brotherhood o. Ameu-
can merchants and which would be the means
Of removing some OF the embarrassments that
had impedod mercantile transactions. The Presi-
dent spoke with pride of the financial position
of the Excnauge with its surplus fund Of Tie par value
OF 1871 1Gs SO and market value Of $i3017l 81 The
current expense account Of the year showed an unen
pended balance Of So 44O u. In dwelling upon The
pressing need of establishing American steamship lines
Mr. Stark quoted Sir Walter Ralegh's declaration that
ommands the trade of the world commands the
riches Of the world and consequently the world ITSELF
Attention was called TO Samuel J. Randas letter to
the merchants Of Galveston IN regard to trade relations
with Mexico and with Central and south America. MIR
stark agreed with Mr. Randall The foreign commerce
of the countries lying south Of the United states on the
American Continent was about S520oooo00. and this
nations share o! u was aDOh' Tli2boVvVo' 9l WHlch
only about $4,000, 900 TRANSPORTED IN American
vessels flying the American nag sech Satf oI tNlhES
was discrtdit TO the American people 1here never
%oIa S gre po comnerca .iy Of the continent un wh
or without the aid Of the Government, lines OF American
and elsewhere, should be permanently established cor
rving exroIts and imports under the cOunlrVs nag.
President Sark closed with remarks upon tne luipUf-
fance To New YOrs commerce OF proper manlgenen Oi
the canals and railroads, and congratulated MS hearers
ON the pros that the canals would DC carried on III
the interests Of the mercantile aud prOduclng classes
The Cotton Exchange al Its annual meeting yesterday,
resolved that the dues Of the coming year be SO ffes
dent Wcnman read the report OF the BOardOf Managers,
which declared that the had not been prosperous
ono to those engaged IN the cotton trade either as lDe
chants or mauufi owing not alone 10 the com
lnsrcal and financial dstrust cngcuderea by the pro
IL
that dread Of general which Tor many months had
aralyzcd the business energies Of ENGLAND and the cen
tmeut Extended reference foade 10 TIE CROWN OF
transactions future contracts from 0,3ObCOo Dtes
Tor the year ending May u, 1873, To 93Ss,-OO
bales for the year ending May 2S, 1871. N0i-
wifhstandng rapid increase and violet Nuciut-
fions in price. this system lad WORKED Smo"thy.
Ncy,-York was losing ground however III respect 10
eter lea nes in cotton, despite increased railroad and
orindart moueycd facilities. The actual sales the
last report were as follows: For export l2s5G3 bales;
spuming 23u.j50 bales; speculation 10 81 hcs; idn-
sit ? 6l baies total, al OBS bales. Tie falling OIL IN
fhe actual cotton trade of NowYoTk in the face oi
steady Increase OF the American crop, compared as
1884. IS74-j. 1886. 1881.
Total crop 4l79O0O 3s47gV0 46350000 i'a9o6,0
n y asSooS 3ssSS s9SSS sSSSS 9SS oS
Of total Up per ct II pea e. opr Ct ypr CT
or ~ y receipts AZ per 80 per Ct 4Oper Ct 43 PER CO.
The deliveries OF cotton upru contract the past year
were officially reported 254.3l9 bales. The member
ship the Exchange Is 3o3, against 400 mt the last an
nual report