Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-01-10
TINS AEN MEntaAAfk 81.
t4Aa@E
BesihH 10 shape tp Haads6mei,
AHA Has HOSTS OF Friends,

I
The room OF the new Merchants
Exchange was crowded with the lead.
ing merchants Of the city last night,
called together to choose a body Of
the in9orporatOrs, Much interest vas
manifested by all 10 attendance, and
the preliminary organization is in
e7efy sense auspicious, so that tho
success Ofthe exchange is assured
Promptly at halEpast even the
meeting was called TO order by Chair.
man 7. B. Sims. and after a few unim,
portant preliminaries. the legislative
enactment under which the institution
is TO organize and obtain its charter,
was read and explained by Mr.. FrayseF
I. Edmondson. The legal require
ments do not limit the number Of
incorporates, though it costs twenty
five cents notarial fee for each name
appearing on an application for Q
charter. A directory ranging from
five to ten in number must be elected
out Of the charter members, and the
directors are empowered to choose one
of their number for president, and
also elect a secretary and such other
officers as are necessary to perfect
their organization.
A resent act Of the Legislature
%confers the additional privilege upon
corporations to increase their directory
to more han ten, If a corporation
deems it advisable. after an organiza-
ton is effected aud shares of stock
are Issued, but the directors cannot
DO more than ten until such action has
been had.
The explanation made was generally
understood by those who had been
leaders 10 the preliminary arrange
meHts, and it had been decided to
choose ten incorporators as before
stated. lis expected the ten selected
will serve as directors, after the char
ter is secured. Sixteen names were
dominated, and printed on two tickets,
a red and a white. Four names ap.
peared on each ticket, viz: james
Lee, jr j. r. Pepper, NJ. Cooper and
f. A. Keeling. The first aud second
Of these received 70 votes, the third
II aud the fourth s.. The remaining
nominees on the white ticket,
all of which were elected
we're: j. K. Speed, NJ. i, Pearce. L,
@. Buchanan, John s. ToOf, L. Erb
and w. j. Chase, and their supporters
ranged 10 number from IS to So,
Mr.. Speed being highest ard
Mr.. Erb lowest. On the red ticket,
besides the four first mentioned, were
I. B. Sims, A. G. Treadwell. G. w.
Macrea, G.. w. Smith, j. w. Cald.
well and z. B. Bryan, and the mum
Der of votes for each ranged from 26
to 81. Mr., Treadwell receiving the
highest vote.
The successful ticket in full was
as follows: j. X. Speed, NJ. G.
Pearce, 4. q. Buchanan, j. Fl. Pep.
per, J. Lee, jr.. J. 5. TOof. M. Coop
er, l.. Erb, W. j. Chase, Il. A. Keel
ing.
The result announced, a proposal
followed to make the successful ticket
unanimous. 1t was carried amid the
best Of feeling,
The men on both tickets are all
popular and successful merchants, and
while esprit oil friendly rivalry pre-.
vailed, yet all expressed themselves
confident ofthe success Of the insti.
tuition under either.
1t is understood that the directors,
when 1t organizes under the char
ter, will select Mr.. j. X. Speed for it's
president and f. A. Keeling for secre
tary. Both gentlemen are capable
and the proposed president is especial
ly noted as a successful business man
Of excellent publications aud genial
temperament. The Merchants Ex-
change starts out with a vast fund Of
vitality, plenty Of popularity aud great
confidence that it will grow stronger
and more useful as each day arrives.
Fresh OYSTERS!
Shell Oysters