New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-06-01
4 YEARS WORK OF THO EXCHANGES.

Both the Produce and Cotton Exchanges held
their annual meetings yesterday, Mt which favor
able treasury reports were presented ana the pres
idents made addresses. President Parker, OF the
Produce Exchange, stated that the affairs q the
institution i'll very satisfactory condition.
Attention was called TO the various important
measures approved by the Board of Man
ayers notably matters relating To tho finances
and TO the new building. The surplus fu nd on May
amounted to 81 800 900, exclusive of the value of
the present Exchange Attentionwas also called to
the circumstances attending the delay and uneNpect
edy large increase III the cost OF the construction
of the new building lie labOrs OF the Bulldlng COM
mttee continue TO be oncrouS, and are attended with
many peIpexitIes, but arrangements have been per-
fected to lay the cornerstone on Tuesday next. Mr.
Parker added that he could see no reason why at
all early day go or 300 more memberships should
not be disposed of at price sufficient TO lIquldate
the indebtedness of the Exchange. Credit was
given to flaming p. Albert chairman of the In
suTancc Committee, for peIfecting valuable sys-
TEN of gratuties life insurance for the menu
The Canal Committees efforts TO secure an abOiI-
ton of canal tolls were next referred to- and the hope
expressed that 10 amount OF labor and exerton
on the part of commercial bodies would he spared
TO secure the ratification of the constitutional
amendment lie also expressed hope that the uu-
Just ana discriminating rates against Ncwlo rk Will
be abolished as well as the granting of advantages
Ill through ireights against The seaboard cities. No
less than ,97O533 III marg. IS had been deposited
during the year with the superintendent and cash
Ter without the loss of one dollar. The inspectors
had inspected II, 1873 210 bushels of grain The
Committee Oh Charities had received $3.50 and
djsbursed 30 LAG. In conclusion President Parker
suggested several amendments TO the bylaws
President iannahll, Of the Cotton Exchange, i'll
submitting his report, congratulated the members
upon year of satisfactory progress. The sales of
actual" cotton during the year were 307 .O75
bales against 3 nc, DIG bales in 1851. 10 this may
be added 81 900 bales shipped direct to mills with
out the Intervention of brokers, and I'D, 900 bales
delivered OH contract. Out OF a consolidated stock
of l. H., 700 bales at all the ports February II,
1882, the stock III this port was 3is,557 bales
which is the highest figure attained since the estab
lishmen OF the Exchange, thus attestlng the grow
ing importance of this port "A cotton market The
handling OF spot cotton under the supervision of
the arehouse and Delivery Committee has been
effected with increased saving TO delverers as well
as receivers and from trustworthy information the
weight outturns have been a source OF much fewer
complaints 10 the receivers, while the experience of
exporters points to a marked Improvement III the
same diTection-a fact watch will TedOnnd 10 the
benefit of the spot business of this market The
sales of futures during the year foot up 81 76S 900
against 20 I'll 500 in 1881.
During the past year the Exchange has sold 80
aud transferred ~ seats, tho present membership
being 455. through The sale OF seals a rust fund
of $i5l 600 has been formed, and that amount the
Board has been empowered 10 Use for the purchase
of a site and for the erection OF new buil'tlug
COngratulatoTy resolutions were adopted ~ both
Exchanges testl1ylus t. the faith.ulness and i'm
partality well as TO the efficient executive abil-
ity Of the respective Presiding officers.