Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-05-08
A NOTABLE INSTITUTION.

The American Exchange Agency is at
449 Strand, London. At that Agency
the RECORD UNION is kept on file, and
the Exchange acts as agent for the
paper in London The Springfield (Mass.)
Republican, speaking of the Agency and a
new departure just made by its proprietors,
says:
An enterprise of considerable interna-
tional Importance and special interest to
Americans has just been started at New
York in the organization of corporation
with capital of $1,000, 600 to carry on
and develop the American Exchange in
London, of which Henry f. Gillig was the
founder and has until now been sole pro-
prietor. Americans who have been in
London of late years are familiar with the
Exchange and its multifarous functions.
1t is the headquarters for citizens of the
United States In Europe, and for such as
choose to avail themselves of its facilities
it is faithful guide and helper through
all the intricacies of foreign travel 1t is
at once clubhouse and reading-room, a
bank, a steamship, railway and newspaper
agency, forwarding company, storage
room, commission house, land and emf
grafton agency, besides being a mine of in
formation in regard to America and things
American By Londoners it has come to be
recognized as authority ON American ques-
tions and Lord Beaconstield once acknowl-
edged in the House of Lords his indebted
ness to the Exchange for valuable informa-
ton. Its revenues though small in the in
dividal cases amount to large sums in the
aggregate, and its proprietor, who started
a few years ago with hardly dollar of
capital, has now property which he val
ues at $500, 600. The business has grown
to be so great and various that Mr.. Gillig
feels unable longer to bear its burden with
out a stronger organization of influential
and moneyed men behind him. He has
therefore secured a charter in England I'M
der the limited liability laws and has formed
a corporation to be known as the American
Exchange in Europe, whose first meeting was
held in New York the other day. The
company will have thirteen directors, seven
of them in America, three in England and
probably three on the continent, the seat of
authority thus being in this country,
where the directors meeting will all be
held. 1t is the intention to make it
thoroughly American institution, devotedto
the service of American interests supply
ing the wants of American travellers abroad,
encouraging and facilitating the visits of
foreigners to this country, and the use of
the American route to China, Japan and
Australia, Introducing American manufac-
lures IN Europe, assisting and directing
immigration to this country, afording reli-
able information and opportunities for for
eign investors in American enterprises
a word, fulfilling the varied purposes which
its name implies. The scheme is quite
magnificent in its magnitude, but Judging
from MIR. Gillig's present success, is en-
tirely feasible under wise, conservative
management. A number of influential
men have already subscribed generously
to the capital of the company, among them
r. G. Mccormick, the American Commits
sioner at the last Paris Exposition, and III.
S. Hyde, of this city, and there appears to
be no doubt that all the money needed to
enlarge the Exchange as proposed will be
easily obtained The stock of the COM
pany will be issued in shares of $40 or f2
each, and will carry no liability of the
holder beyond the par value of the shares.
As rapidly as possible agencies will be es-
tablished in all the larger cities of the
Union and in Europe to facilitate the
transaction of the different lines of bust
ness in which the Exchange proposes to
engage. 1t is apparent that the company
acting as an agent for so many interests
and earning commission, even though it
be small in every case, may, if prudently
administered, earn handsome income and
prove remunerative to its stockholders.
Mr.. Gillig, who seems to have genius for
his undertaking, appreciates the import
ance of stepping slowly and safely in ex-
tending his connections and interests.