Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-07
THE NEW EXCHANGE
Much Interest Manifested in the Perma.
nent Organization, Which win
Take Place Tuesday Night.
The Talk ON the Streets-0pinions as to
Who Shall be Its 0ficers-Full
List OF Members.

An APPEAL represent alive heard plenty OF
talk on the streets Yesterday concefniug the
new Merchants Exchange, fron which he
learned that 3 considerable amount OF inter
est is manifested in the permanent creanixa.
ton, which will take place Tuesday night.
Opinion Is at some variance as to who shall
be its officers. Some, and we found only
few, favor representative from one OF the
leading lines OF trade Tor
TIE rRnsIDfse OFFICER.
On the other hand this proposition is Bit
terly opposed upon the principle that other
interests than the one he represented would
not receive the attention due from the execu-
tive, aud would thus 20 neglected. Another
opposition is found in the proposition that
a member of an individual line Of trade,
thus elevated, would derive 4 corspicuity
that would amount 20 a formidable sdVer-
tisement OF himself in that business against
his competitors for that class of trade. The
most popular feeling discovered wss that
"an outsider" should BE- selected. By that is
meant = man prominent, in business circles,
but identified with no particular branch OF
trsde-one who, BY virtue of his mercantile
calling, has an equal interest in all branches
Of trade, and in the general commercial
welfare Of the city. Such man, il IL ar
gued, could preside impn.ially and con-
scientiously protect one interest from the pos
able encreachmenls OF another, and
PRESERVE HARMONY
when otherwise conflicts might arise thai
would be fatal TO the organization. The
supporters OF this idea argue that the. great
est care should be observed in securing an
executive OF this character on the occasion
Of the orgsnizingiof the EIchsnge, 10 view oil
the fact that previous efforts 10 establish
one in this city have proved failures on &C
count of what they are pleased TO term
IA osE-sIDED ORGANIZATION"
1t is also urged that the vice-presidents
should be selected with the same objects In
view, but that the directory should be conf
posed of representatives, of every branch OF
trade embraced in the Exchange. Six d.
reciors, as intimated in the preliminary pro-
ceedipgs, are not considered sufficient Tor
that purpose, and it will be commended that
the directory be made up Of ten or twelve
members. Another question Is being dis
cussed TO considerable extent-that OF
MEMBERSHIP FEES.
/. is discovered that many merchants
wish to connect themselves with the Ex-
Oh ange, but do not feel willing to pay $50 in
advance for the privilege. This is proposed
TO be obviated BY fl King the fees 60 that they
can be paid either in monthly, quarterly, or
semi-annusl
IEsTALLMENTs,
say $40 per month, as the money is needed
to defray the expenses of the Exchange,
| until the whole amount is paid up. II at
the end Of the year ii is discovered that by
| increase OF membership, the fund on hand is
| greater than the current expenses OF the
Exchange demand, then the residue might
be employed 10 deirsying the expense OF the
following year, thus enabling the Exchange
to reduce the membership fee; or else the
amount might be set aside for some particu-
| lar purpose, such as creating
A BUILDING FUND,
| 10 be used in the construction OF a building
| suitable to the demands OF the business of
the Exchange. All these things formed
themes for discussion yesterday in CONNER
cial circles, aud the reporter fonnd great
amount Of interest manifested. Acting
Secretary E. A. Keeling kindly furnished Us
with list of members who have connected
themselves with the Exchange since our last
report. M. Keeling says that several OF the
committeeman have not made reports since
the Ihursdsy night meeting, and he is salts
| fed when they do so the list will be consid-
erably enlarged. We print the list embrace
| inc