The Portland daily press., 1878-01-15
Total,


Your Secretary would respectfully report that
there have been held during the year Ia meet
lngs-l2 of the managers and 2 of the full
board-one meeting of the managers only adj
ness.
Two persons have been admitted to member
ship during the year and one has deceased
Judge Joseph Howard, one of our Oldest and
most respected members.
The Board now numbers 2l5 members,
against 249 last year. L have received for ad-
mission fees and assessments during the year
1868, and have paid the same to the Treasurer
The Merchants Exchange has at this time
196 members, being the smallest membership
since its organization,
The receipts from subscribers to the Mer-
chants Exchants have been 81 $685. making
theIaggregate receipts reported from the Board
and from the Exchange $2,225.15. twill be OBJ
served by the Treasurer's report that the affairs
OF the Exchange have been economically man
aged and the expenses Kept as low as possible,
without impairing its benefits and efficiency,
otherwise it could not have been sustained. 1t
is matter of regret that we notice the want of
public interest with many who have declined
to continue their membership on the pretext of
economy-those having large business interests
in the city, who are able and should have
public pride in sustaining news room in their
community when it can be done at less cost
than is done in any other city in the Union, and
at the same time has upon its telegraphic bull
letins all that is afforded in the New York or
Boston exchanges, through the personal efforts
OF Superintendent j. s. Bedlow, and its files of
papers and reports are limited only to the Ca
pacity OF the room, which the management
would gladly henlarge under a more generous
support.
In business point of view the antcipatons
SO generally INDUCED in at the commencement
have not been realized in Portland, although it
1s generally conceded that the year has been
the turning point from a long period of depres-
sion there can be no doubt of this as there has
already been marked improvement in many
branches and the situation of affairs in Port
land is evidently much better than IL was a
year ago though still far from satisfactory.
Merchants have had to increase their exer
tons and accept smaller profits as well as to
carry large quantities Of unproductive and de-
preclateda property, an ordeal through which
we have passed with as few at least disastrous
failures as any other city of equal business
magnitude.
Our shipping interests have suffered severe
depression and it is hoped that substantial relief
will speedily dawn upon this great i'm portant
interest to our city and state, and If there are
any depressing influences or determinations
which can be removed by our joint efforts,
such efforts should be put forth at once.
Our railroad interestslare in as good condition
as these great and absorbing interests are any
where in the country. 1t is not strange thatsan
interest having to employ 50 much capital in
its business should suffer she most severely in
general depression of all other interests, yet
In view of these we are able to already recog-
nize substantial improvement in cur own
railroads, or those whose business centres here
and we think that the prospects for the future
are good for Portland if her business people
only stand by themselves and jointly and per-
sistently push their claim and seize their op-
portunities with a broad liberal enterprise
commensurate with those opportunities.
Respectfully submitted,