, 1879-06-13
Report Of the Special Committee
on the Condition OF the
y Corporation.
Secretary Randolph Very Much
Dissatisfied with tho
Investigation.
The Expert Accountant Accused by
Him Of Doing "Dirty
Work."
Indications that the Board VIII Sock
New Quarters.

About four months ago tho Directors Of tie
Board Of Trade adopted q resolution providing
for the appointment Of Committee Of 1ye
members "to examine into tts rreacnt financial
condition and Its pxat management for sticll a
period OF timc as tho said Committee shall
deem advisable, and 10 make full report ,hcreun
70 this Board, With such auRgcstions As they
shall deem proper, and TO this end said Com
mittco Ia hereby empowered to examine
all books and papers Of tho Associa-
tton." President Dow appointed Ms
such Committee Mcssrs. I. T. Gusney,
Clinton Briggs, j. II. Drake, s. D. Foas, usd W.
q. Goo0now. Tic Committee, apprcclat!ng
the nature and extent OF tie work before thcn,
employed Dir. E. H. Whculock, an expert me-
countant, to 20 through The books md make the
most scarching investigation Of tho munner in
which they vcro Kopt. The result Of l,is laooEB
was tic discovery Of sltpshod method Of doing
business, and lc reported recommending
Hs t. Sn ,os 0py ]
amounts At 81 and Inward. NotH on stub ot check
70. what, A. well a. to whom. It was Elvcn Not
Sock tho tamo as = currency check. Nos to draw
check 10 order without chatgtng to somo account
!hat appears with tho nnu,bot q Thy check % the
thosane order ~ the check shows. To keep an &C.
tount With tho currency drawer, MI n 10 alow
70 crsdit to some accont iii money received,
10 that It sppeArs IN money received on
ss sss i;Ga ts1ea s le 5tsszs ss
snoncy, pull out for ono general purpose 10 ono
general ncconnt
molsly, recommended reduction III the tx
pcnses Of $5Q5 per month, or $8,fAV, cutting
down Mr.. R.lp1otph's salary from Sa00 10 S4ul
per lpnnth; and aud:
The examination has involved much labor and
tx
Tint Mr,. Wheelock has shown hsmsalf competent
and dntGent srr4an. df your Committee, and ilus
displayed a spirit Of nsass!anisnsy aaA fairMcss
out confederation In, thls connection we regret
The necessity Of reporting tho dIacour.~nut roat
mittee. = "" ' '
In reference to tho ilIscourtcous treatment
rocetrcd by Mr.. Wlicclock Ut tie hands OF Scc-
rotary Randolph, Mr. Gootnow explains that
on one oceaaton when Mr. Whcctock was going
through With an examination nf tile books.
Randolph, in pct, arcused tht ntct'.utant ''f
doing "dirty work for thu Committee. 1nas-
much az thu COMMITTEES think they wcrc nnIy
performing dutr and Eu'l nn "dirty work - to
do, they felt ustitctl In making mild but uotnt-
cd allns!on 10 u4u circumstaacetn ti,rir report
On the question Of the rental naii for The halt,
the Committee nrs far from being tattstlcd. mud
the dissatisfaction points to change uf tuurters
10 the not far distant future. The rcpurt rcnsis:
II must bu apparent to your mlnds ihat tie chief
snd tnos,nnc ,, Item q rsncnsa ~ saat of re1tal M
qncstion, not IN tho province of yun1 comnIttec to
decide. whether Il cotpnrasinn sncli as the loar.l
per annnm for hacl. accommodating a. f|iby now
hnyu, mud, ~ a9tlitlolI, perpet9nl lease u tho
eesSsa ST. M % y ; Tf If ,sae y ~ y H. s
onmeHa tho anpo;atn'cni Of n special committee
empowered 10 on.p!ny The hest of legal u.!sirerA
regarding Tho validity If thcss enscf, and to dr.
Sise IltuTlH whereby these unreasonable items Ut
expense mar b. materially reduced.
ne!: thu. T. 1s3 FL ''s @ ns.a q Of Tr.e n9
erpcnte. It nust ho npEa.ent II !oar, nnIs .hnt
this y III txpense that ol1sh i9s 70 hv nc1.sad hy
your Heard, anl w. r., feeon!mend that your flnnco
Your 'ommiitcc arc II tic opinion That The gru-
esa fesslons Of lhe Hoard uf Directors snoud b.
public.
tee rc.seaf the Language of Mr.. Wheclock's se-
port, which statcs that Mr.. lsalltt!pi hon
estY In overy particular hnH tIsct "lrnfly proven,
and atl moneys show, To lIayc co1t,e illtu his
ulev have been rcecIYcu.H
Al tAr foregoing aIn! mllci, moro not Of gen.
trut interest waR referred 10 n speeta! ctnmt-
tee, co,'ssttnE Of Mcssrs. Cou1.selnan. Atlatns.
flamlll, flcrrH,ans. nIl,l ASH, for examination
and ruport, which they did ou Tucssiay.
On tho qnceinn os bookkeeping they have
no recommendation to nlake.
"W!th reference tn 1hr uropuscll reduction
III salnres.-inusullirl1 aR they are liked tor The
current year, VIC refer the matter tu tlte Urec-
tori for hct1Un at thc proper t!!lo. as tn mar.
kct reports, the proper c0nsn,tteu Ii nov Gull,
sidert,lT such reduction is may bo dce'ned MI
:" We regret the Committee should l,aYc coil
strued any supposed disCunrlrsr OH the lntrt vi
thu Secretary toward M empluyc ri Theirs ar III
any way attaching tu themselves" [Uli, my!!!
m!ttue favor t.ir appointment Of II committee tu
tnkG Into consideration The question OF cnnrrc cd