New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-06-02
CmAIEalAN sMILtY's ADDRESS.

| CHAIEMAN SMlLtY'S ADDRESS.
Long before the time for the first cali the gallery ant
floor were crowded. Wucn George W. Smiley. the chair
! man. accompanied by General Christensen aud Milton
= Latham, mounted to the rostrum cheers were giveI
10y the operators and spectators Mr. Smiley delivered
| the opening address. lie said in part:
! GYAILLMEN OF THE AMERICAN Missing EXCHANGE:
IKE rras.trr M cong a,u ne you upon the Successful
oprnng % the American Mining stock Exchange whcl
| organ zltion We are to-day ass"mb!od TO perfect.
The reason for the organization OF board OF thi;
character mas been long time apparent. The
magnitude OF tue mining Industries OF America has at
tcted the attention. not only % the metropolis OF New
YORK has CAUSED the capital Of other countries 10
b,runC largely Interested III Its advancement and tO
day the unparalleled production OF precious metals in
the various of cur mnera-0rarng country has
caused the business Of mining 10 assume an Importance
that before possessed and now 10 stands be-
lore the world as legitimate aud firmly established in
| dustry.
cInns nra- began III TINS country, and at the present
time over one tu-usaud millions OF dollars nave been
added 10 TIE wealth OI the world Dy The labor VI tnOd-
sand, uf miners, 10 whom TINS industry has gwen re-
muurratiyr employment tlns ASSISTING In the support
many families Ia comfort Inc Weath thiis gwen out
- the Grid WIS OF tangible and permanent nature II
WA something lasting and Of benefit 10 ALI botn TO or
own nud lu'ufr ErlrralonS, III tlat u was 20 murh
really ChInal win which 10 pay dtDis buy Grhln
| wheat anC flour and bctOmc medium Tor exchanGe
among all PEG lies short 10 WIS money which never
before lau existence, aud was Drought Ia ght 10y
the industry which 1t VIII be the care Ol inns Exchange
10 uuuTISl and project
properly CundGC ed rs 10 assist ANA advance almost
every known industry ana thus foster and give strength
to the business character of our whole country II Is
capital invested Ia mines and INNING proper
cs the short period OF two years, tue returns
from which are falr ratio 10 those received from
any Other branch Of business and no good reason can
De advanced why certificates OF stock In mining lnc"r-
should not Ia received with the same cOnl-
deuce aud b,.I the same marketable value as similar
cOllairraIs IN other Incorporated companies
And Ia re- VIII state that the Mining Trust Company
an organization formed under and Oy virtue OF tue laws
of the State of NrwYor. and Differed by gentlemen OF
weli-kOwn business integrity and pronounced ability
is fuy prepared make tns new departure aud stands
ready, after the value of these securities lll nave been
mn a.
in IA liberal spirit upon tlrm
I'm ronclu>iun would respectfully suggest to the
members Board mat the greatest care be exer-
c>rd III their transactions with eacn other alS) tn
thcy guard well the interests OF customers and the pub
las win whom thew may have business transactions.
believe from the character OF the gentlemen composing
This organization honorable dealing and fair bsi-
ness c1urtesy will be extended to all with whom they
may nave relutions loud applause.l
TIE COMMITTEES.
The Chairman announced that the following gentle
men had been appointed the Committee OF Arbitration :
Samuel NJ Blatchfurd. Il. W. BOgar 5. Il. Warren and
:. d. Sturgls.
The O. her committees are as follows:
GorryminO Comnftirs-SAmu NJ. Blatchford, George
Chapman, Thomas J. slaughter, f. H. Grant, W. 3. War
Augustus EbIt, Juan =. Terry. L. NJ. Lawson, W. A.
simmons, w. 5; Richmond, l.hinGham Lawrence, Alex
lam f. MOllcr George ID. Meeker, e. g. Hastings, A f.
~ Commiitee on Sioch list and SccUineS-waslington
Lee, William T. Molrr, l. Llwrence, Marx ]"
Gordon. Luther L. smnn, Charles EustlS OrvIS, ID. Is.
Committee on Management and Arrangements- Frank
lin Alien, ". 3. Warner. H. H. UnderwOUu William Bel
den &. H. TOmpkIus, Hiram Fool, RCbard W. BOgart.
COHipiihee on AdnlSSi0nS-L NJ Lawson, l.. l. Bell, T.
c. Broun, 5. Is. Stuiges. Henry NJ. Cowles.
TIE CALL OF STOCKS.
The calling of the stocks listed" at the Board was
then proceeded with, the location OF the mines. the
amount of capital aud the number OF shares being given
There was lively bidding some OF the stocks, and
great many shares changed hands. The stock already
"lslcd and called yesterday were:
Annie Consolidated Pacific Maynower
Iivr and Byo Couscttc, Mineral Creek,
BIiwcrt 'olsolldatd. Durango, Mono.
IOainu Il, r1ellni, SILVER Nugget
Cnumlia ,OusO'd, Glyndale ConsOPd stand By
C,nw1il Ilukill STANDARD Consold,
q silver, South BuIWeT.
t,nsnd Virginia, KING OF the Valley South MONDAY,
Copper knVO, l'lttio hlet SutIo hhneL
California, Le4u''ile' AVHOsVOho'
ADDRESS OF MILTON 8. LATHAM.
On the completion OF the cal tne chairman Intro.
ducod Milton s. Latham, who met with cOrdlII recep
ton. He said in part:
GENTLEMEN In great city like this 1t would be ut
tery impossible for M industry such rs We seek TO
foster TO be successfully carried without having
common place OF meeting, where. In the rst DstaDoe,
might clear the sales made daily and IN the second
place where yOu oil have your dividends regularly
pad ana your stocks transferred and relsered These
are the objects the formation OF this Institution.
IL Is true your chairman has stated, We poD0se also
to loan capital such We have and can command, upon
tho stocks according to the market value
that you yourselves may declare. l may state
It as singular coincidence that in the City
Of San Francisco, whore probably $20I000000 OF
bankAbe funds are used in the current busi-