The New Orleans daily Democrat., 1878-11-28

GUS performances OF thelf nutieS, we close Oul
report, with congratulations upon tho con
tinued SUCCESS OF our Exchange and 81
earnest hope for its future welfare.
PERRY NUGENT, President.
HY. G. HESTER, Secretary.
Finances.
10 Perry Nueent, Esq, President, and the
Board Of Directors of the Now Orleans Cot
ton Exchange:
The Finance Committee respectfully sub
NIT the following as their annual report:
They entered upon the performances OF their
duties on the seventh Of December last, 1877.
confidcd to them cOnsciontiOusly, and are
happy to be able to report that the finances Of
the Exchange are to-day apparently dn the
hne h9hy m Nv wne 6e 9"ey TGpe
committee. The amount of bills receivable
on hand on the first Of every month
has varied from $4,000 to $4,000. 1t
will be seen, therefore, that tho funds of the
Exchange we're at all times actively en-
ployed; apd although the rate of discount
during the past twelve months has been gen
orally very low, interest account shows net
earnings during the year of $4059 80, an in
crease over the interest earnings of any pre-
vious year. The instability OF values-State
municipal and corporate-~has prompted your
committee to effect loans on those securities,
with reasonable margins, rather than make
fixed investments therein by purchase; and
it Is source OF relief and satisfaction to
them to be able to say that no loss has at
ESuQeQ any OF JneS6 loans.
The cash on hand this day. November 90
amounts to $GG2 IS.
The bills receivable aggregate $54.0tJ, and
are rs follows
Note duo November 90 1879 on pledge
$4,000 St. Charles Hotel mortgage
49, bonds. .'...:.-......;.: $4,000
So shares Union National Bank. .....- $500
Note due December 9, 1915, on pledge
$4,000 N. O.. j. and @. N. r.. Il. first
mortgage bonds. ACKNOWLEDGEMENTS. 4,750
Note duo December g. 1878, pledge EG
shares Louisiana M ional bank. -. 7.74o
Note due December u, 1873 on pledge
sl5 900 Louisiana State consols. TO- G5o
Note due December "a. 1878, on plodgo
$4,000 st. Charles Hotel mortgage
bonds. .:..................... .:.:...... $500
Note due January 49, 1879, on pledge 40
shares Now Orleans City Railroad 1000
Mortgage note due November 13, 1879. on
pledge uuircumbored city property.
worth $50 900. 0.....-,,..,............., 5000
Note on demand, on pledge one share
Cotton Exchange stock -........-.... rs
Toai. OBSERVATION-DISCLOSURES. S54 Ole |
From the treaBlrer's books the following is |
condensed as the revenues, expenses aud sur
plus Of the Exchange proper for tho year
ending October 81, 1878:
RocoIps from oil sources .S3a bG1 ob
Disbursements. at383 ~
Leaving n not surplus Of receipts over
expenses October 81. 1873 Of 81 t7B 10 |
The surplus would have been larger were 1t |
not that exceptional expenditures were in
CURED, amounting altogether to $2t0O.
The present cash capital Of the Exchange
exclusive Of furniture and fixtures. Oan be set
down at $4,000.
The outstanding stock numbers 333 shares
Your committee recommends payment of So
per share to tho stockholders on and after
January 10, next.
Tho treasuror's account with tho de-
partmeut Of press supervision
made up to August 81, 1873. shows
total expenses sof.................... of 500 473 10
ana total receipts ot.......-......--.- b0,65l 50
Thus leaving deficit for tho year of S. s21 50
The surplus on August g. 1877. of
s1e.1oi s5 still left surplus. on
the thrty-drst of August last of. Sl3. .2s3 o.
Assuming that the Income to be do
rived this year will equal that of
last season a cents per bnle on T.
100000 balefl we have total pros-
pectfve fund of say. ................ SG3 900 90
against disburs' ment OF say. $4,000 90
1t will be observed therefore. that the
excess OF disbursements over re-
ceipts in this department Is
gradually trenchinR upon Its ro-
In the department of levee inspec-
ton the receipts have exceeded tho
expense by. .......-......-.......-- 81 ,a54 9S
And the amount to the credit Of this
department on August 81 last was. eA.39S 90 {
Respectfully submitted I
WIN. G. 9. CLAIBORNE, JR, Chairman. {
WM. CUNNINGHAM. |
Supervision. Ia
TO the President nnd Board of Directors of tho t
New Orleans Cotton Exchange: /
Geattemcn~in reviewing tho business Of the
supervision and levce inspection departments I
for the year we have but little to add In I
general way to what has already been said In
the annual reports of our predecessors, y
~ Sfp pln of tin, md