The New York herald., 1877-02-27
WALL STREET MOVEMENTS.

THE OPEN BOARD OF BROKERS AT WORK.
THE GOLD EXCHANGE sQuABBLEs-- CHEAP
CABLING.
The new application for rcccivership of the Della
ware and Hudson much talked OF on Change yes
tcrday. President Dickson sent the stock Exchange
the polite Information that the detailed statement the
complaint called for would be furnished at the proper
time. Immediately attor the stock Tell or one per
cent.
The orEx BOARD BROKERS'
The New York Open Board OF Brokers took posses.
sion OF their temporary quarters at No 81 Now street,
at halfpast nine O'Clock yesterday The room
reaching from New street to Broadway where it has
basement entrance, was in very bare condition,
but yet the actual necessities tor tho trans
action OF business were hand. The printed
signs hung along the walls Indicated the portions
devoted tothe busipcss of the principal stocks The
dck OF tho Chairman and Secretary stood about tho
centre OF the room and facing the Western Union
stand Among the visitors who dared to risk the dis
pleasure OF the Governing Committee of tho Stock
Exchange was the we'll known broker Charley osborne,
ana sat down and looked while the first sales
wore made. Business commenced yesterday at forty
five minutes past nine aftor opening address from
President Nevers and tho usual introduction OF tho
Chairman tMr. Brokawl The hrst rush was made TO
the Western Union corner and after sale OF 500 at
62A business sackened there, notwithstanding the
frantic efforts Of energetic operator TO sell
any part Of 1000 at 627s. Some 800 or 400
shares OF Central we're sold at 93, aud That about
constituted the mornings work, immec lately tho
Stock Exchange went TO work the Open Board be-
comparatively deserted. Their hours of business
will be In uturo IRON hall-past nine A. NJ to our p.
M but yesterday they were hardly prepared TO 20 10
work III earnest.
THE GOLD EXCHANGE
very largely attended meeting OF the members OF
the Gold Exchange was held yesterday afternoon in
the Gold Room The Chairman, Mr. Morris. after call.
the object of calling the meeting together In
struct the Executive Committee to procure
IN ne M nsy Myy carry on u@deqs ss
offered a resolution that the Executive Commit
tee be instructed to lease without further delay
SUIT OF rooms tor the use OF the Gold Exchange.
motion then made aud seconded to take up the
solution offered by Mr. Undorhiil, and on the call OF
'Question" the yeas aud nays were so mingled with
catcals, Whistles, yels and other noises that tho
CHAIRMAN had 10 call for show OF hands, ana on the
count tho yeas had 17O nays 60 so the resolu
ton was, therefore. tabled. motion then made
that committee OF five be appointed to confer with
the Executive Committee OF the Stock Exchange, but
before It was put another motion made, that the
Executive Committee of the Stock Exchange be re-
ques,ed to comply with the usual courtescs and
answer the communication from tho Gold Exchange.
The Char ruled both motions out OF order.
Mr.. John 7. Denny. member Of tho Governing
Committee OF the stock Exchange, then rose and
stated that the only reason they haa not heard from
them because the Secretary had not had the time
to send the communication. He said he had no au-
thory to appear for the Governing Committee OF the
Stock Exchange. but ne would say they had leased
the Gold Exchange for room III which 70 transact
business In government securities and mining stocks
In consequence of the cordial feeling that had always
existed between the members of the two boards they
had felt a loss how to act, and finally called
twelve members of tho Gold Exchange, not members
OF the Stock Exchange or officers OF the Gold Ex-
change. to consult With them They all disagreed.
having different views, and the committee finally
ported as printed IN the morning papers.
Mr.. Underhi SAID he denied tho right OF any to
vote away the property OF another party.
Mr. Denny replied that he had not come argue, but
merely to state Iacts The Governing Committee Of
the Stock Exchange also claimed the right 10 name
the stocks in which their members should deal IA
voice-.'lt not so' can only say II s always so,
unless in instance where the proposed change, al
teration or addition has posted week, and then
1t requires n two-thrd vote 10 mako 1t valid
Mr. Underhill then made some pretty strong remarks
inenuating that the whole matter had arisen OF
petty spite tho part OF the members Of the Stock
Exchange at the members OF the Gold Exchange that
order, but on motion allowed TO coniinue.) He
then got up a desk and gave the Stock Exchange
dose OF red hot shot, that finally created such up
roar among The spectators that he had to dcsist.
Exchange, then moved that meeting OF
tho Executive be held on Thursday, March s,
10 consider resolution to dissolve tho
Gold Exchange April 80. 1877, to pay all
outstanding indebtedness and divide tho balance pro
rata among the members The motion was ruled out
OF order as revolutionary and unconstitutional, but
the Chairman added that amendment would be re-
quired TO cover the ground The meeting then ad-
journed. The necessary amendments will be posted
in the Gold Exchange to-day and brought up at the
next meeting.
The manager of the Direct Cable received ipstruc.
tions yesterday from London to make tho rcduc-
in The rates had been madesby tho other lines
The new rates will go into practice at twelve N. In
March.