Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1884-01-03
Annual Report of the Board Of D1-ee

AISPuIs, TENN. December 2, 1883.
To the President and Members oi the Memphis
Cotton Exchange;
GESTLEMEN-Article 2, section l, OF your
bylaws requires that an annual n,~ting
OF Tie Exehange shall De held on the FIRST
Wednesday in January at O. 'cloek +. M,
at which meeting shall be presented by
your Board of Directors general state
mept OF the affairs and finances of the Ex-
change, together with . statemnr. e the
probable expenses Of the Exchange for
the coming fiscal year. As-will be seen
from the report Of the treasurer, which is
herewith submitted as part Of this re-
port, the total receipts of the Exchange
proper from all sources has been 81, ,e55 o.
and the expenditure has been $l1 400 O3,
which leaves cash balance in the hands
of the treasurer OF $626 Oh. Including
balance carried over, we estimate the total
income for the ensuing year at $4,000,
and beg to submit the following budget OF
expenditures for the same time, namely:
G. and $. Tel Co. W. L. Tel osad ''''' :"
Rent $50 o.
Dues to National Cotton Exehansc....... $50 %
Printing an stationary ary..:.......i.:.-.. f4o ee
Books and newspapers. 14u 90
Postage ~ %
Total ,l2, 80 20
which would leave balance of 200 Py
reference to the report Of the tredsstrer,
you will see that the receipts for the fiscal
year for account OF the building fund have
peeu s3y,275; disbursements, s24,4a9-
leaving balance OF $l4, ,s65. This balasse
has since been all disbursed in the pay
ment of the lots on Second street, whereon
1,,stl aa
during the ensuing year. Last summer
the Building Committee sent ont q printed
circular. asking for plans from architects
for the new Exchange building. A4rohg
the plans. submitted, tile. cornptittee se-
lected that Of Mr.. II Woltera, OF Louisville,
Ky. The committee are now advertising
for bids for the erection of the buiidipg,
and in short time the demolishng OF the
old buildings will begin and the work be
pushed to completion.
The building will be located On the west
side OF Second street, running from Madi-
son to Court street, on lot seventy-four
and half by 1854 feet, and will be built
OF pressed brick, with stone facinqs.
Rooms for the Cotton and Merchants Ex-
changes will be on the first floor; rooms
for banks and insurance offices in the
basement and offices on the upper floors.
The cost of the building, including cost of
ground (s57 .GI51, will be about $1,000,
and the building, when completed, will
be pride and all ORNAMENT to the city.
1t was found necessary to have the affairs
Of the building placed in tile hands OF
trustees until such time as. we can obtain
charter for a building company, which
cannot be done before a meeting of the
Legislature. Said trustees are empowered
to make calls for and collect Subscriptions.
IN rron fnr IA
purpose of erecting the building. All the
stock to the Building Company has been
subscribed, considerable portion of it by
parties not members of the Exchange and
public spirited citizens generally. The
membership Of the Exchange 1T the be-
ginning Of the past fiscal year numbered
l34. The present membership is lG0, an
increase of twenty-six. During the past
year the Exchange has renewed its MEM
bership in the National Cotton Ex-
change OF America, and was duly
recent convention at Old Point Com
fort, Va. The addition OF a life in
surance department 10 the Exchange, for
the mutual benefit OF the members OF the
Exchange and their employees, has been
successfully consummated; and has now q
membership df Is7. It is Intended that
the membership shall number 200, so as
to make benefit fund OF $1,000. During
the year Mr.. James z. Day, an honored
member of the Exchange, was removed
by death. Suitable resolutions were
adopted by the Exchange at general
meeting thereto. The thanks OF the Ex-
change are due TO your President c. p.
Hunt for the zeal and attention shown By
him for the welfare OF the Exchange; also
to tie gentlemen composing the various
committees, especially the Committee on
Classification and Quotations, who have
promptly responded to all demands made
| upon their. tiu,r. and patience. To your
secretary, Henry Hotter. and his assistant.
+. G. La Haclie, we extend our thanks for
the efficient manner in which they have
respectfully submitted.
WM. BOWLES. SR
BARNEY HUGHES.
( ". W. sCHQ0LFIELp.
J. VI. FUMLkfS,
j. W. EULMER.
g. q. MACLARAS,
Il. b. CAMP,
Board Of Directors.