Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-04-01
THE COTTON EXCHANGE.
The Proposed Plan of Life Insurance
The Sanitary COaucii-River
Improvements.

A special meeting of the Cotton Exchange
was held yesterday afternoon, President G.
P. Hunt presiding, at which various items
OF business were disposed of.
The first business announced wss the re-
port Of the committee and Board Of Drec-
tors on the proposition OF creating lie in-
surarce department ia the Exchange.
The reports, as previously published in the
APPEAL, were read.
MIR. Henry ]. Lynn was called uron to
explain the system proposed, and present to
The EIrh sngH the various svs:erhs in opera
ton IN other cities. The plan Proposed by
the committee OF this Exchange WAS the
same as that in operation in NV ORE ans
where employees of members sre admitted to
the benefits of The insurance department,
which he thought would apply to
The Memphis Exchange, owing TO the
ANAL number OF members. He thought
hat employees should be admitted in
order TO secure members of The insurance,
daparim Mt sufficient to reduce the assess
mems 10 a reasonable amount Mr. Lynn
continued in detail The explanation of the
New Orleans plan, not necessary to print Ia
our report CT he pro, eedIngs If the meet
ing. During his explanation of this plan Of
Insurance Mr.. Lynn stated that the records
# the Memphis Cotton Exchange show that
only niue mt mbers had died within he psst
fiji zen years.
A motion 10 adopt the report of the com
mutee was amended so that the bylaws and
constitution be adopted by sections, which
was carried.
Mr.. Henry J. Lynn read the constitution
OF the New Orleans association by section,
sd apting it to the Memphis association.
The section relating TO employees OF mem
ber5 Of the Cotton Exchange being eligible
in her e
was objected to, which objection WAS met
with the argument that il eligibility was
confined 10 members the organization won d
be too weak 10 be effective. An smendme at
limiting the employe membership TO one in
the service of each member Cf the Ek-
chang, and the section as amended was
adopted.
A motion to reduce the initiation fee 10
| SO was lost, and The section making the f=e
| so was adopted.
No other nanges were proposed, and the
| constitution AID report Of the commitlee
| was adopted as a whole.
On motion, committee OF FIVE was an
| pointed, consisting of Henry J. Lyon, II.
| Furstenheim, Robert Woolferdep, w. A..
| Prince and r. F. Patterson, who are to he
the charter members, and first board OF di-
rector.
The circular OF the 81. Louis Merchants
Exchange asking for the appointment of a
COMMITTEES from this Exchange, 10 act in con-
| cert with committees from similar bodies in
other cities in urging upon Congress the
necessity of rational aid for improvement q
OF Western waterways was next taken up,
and without discussion the president was
authorized to appoint committee, number
to compose ii not stated the motion.
/ The proposition 10 send one or more dele.
1 L
meeting OF the Sanitary Council at Jackson
Miss., tomorrow, was concurred in, and the
president author zed to appoint one delegate
the delegations TO Nashville in the inter.
est of the Memphis brokers we're rendered 8
vote Of thanks, and the meeting adjourned