New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-05-27
PRODUCE AND COTTON MEN.
paospaIIrY OF THE TWO EXCHANGES.

.x,u,r ,pDREssEs OF rHE PRESIDENTS - Gun
eG.TULArIxG THE ME&BEhs.
Thu animal meeting Of the Produce Exchange
WAS held Yesterday. President EerFlcks report s"o
the on litoa OF tbs Exchange to be remarKaoiy
aen. After auins 10 the universal depression o ".
last ananeisi year. he said: "The eonstruc"o"
oy tho ew builJiug has been closed, and represents
,,ross-eost of S3l7sG45 15 The bonded debt VIII no
oxc.od 81 100000 when the value Va VIZ
other prorerty OF the Exchange In" 80
realized Every Office in the puiiui"e a., noor
leased and the income from rents the neA' "SO" -
viii be increased $4,000. The genera ia
,bnge itself and cost of the conduct Oh tue puiu
d. been exclusive OF interest ana taxes.
The total income all sources collected ana oue was
so6G O59 From this income about $l2lOI 20 mas Deeh
used 10 complete building which reduces the surplus
aver ALI expenses to O25 ST. There every reason
10 estimate the surplus for next year at Sooooo whcn
gradually increasing will extinguish our debt In about
afteen years The old Produce Exchange has been SOFA
20 tho United States Government for $25OoOO' SUBJECT
to an appropriation by Congress for its payment
.The West shore Railroad Company have made an
agreement with Exchange for the bulkng and grad
ing Of grain similar those heretofore made with the
three trunk lines, which have worked 80 much 10 tne
advantage OF both parties me Deiawaiv, %vSer
consideration These arrangements must lesu III iie
TO erection OF additional railroad eleystors Wien
will add 10 our storage capacities aud terminal IachueS
The coinage OF silver at fictitious value mas pee o
tnueG another yssr ana SSnanS us nearly to the
point of premium god with the 9nsett1g OF VatSs
and confidence which this implies Indeed put ior INC
indcous management the Treasury officials and the
decision retain intact the $lOC0OOOOo gold reserve
the country would already have began 70 reap the
harvest OF disaster which is the inevitable result OF the
Reports We're also submitted by the treasurer and the
several committees. The Arbitration Committee re-
ported the first time in the experience OF ne
committee award had been treated with dsresPeG5
This occurred In the case OF dispute between r. n.
and White White rceS to sSSm aSG
subsequently sold his seat. The committee suggested
that some provision should be introduced into the by
laws by which the managers could be empowered in
such cases TO discipline members before by their own
acts they place themselves beyond the OF the
Exchange.
The Cotton Exchange also held its annual meeting yes
terday In presenting his report President Gruner
change the last year gave the members cause Tor
sefcongratulatioa. Among other thngs he said
he total cost of the building including ground struc
tnrr furniture etc. viii finally be about 81 100000 and
This expenditure will have been covered from re-
$500 900 from the BOwery savings Bank According to
Inc report OF the Executive Committee IL VIII be oD
served that the yearly cost OF running the 6udng, In
Guiding taxes and mortgage, will in round
figures amount to $4,000. and that out or nnetysix
heen disposed of up to date at an annual rental
of $46450 plus $546 81 for premiums received on
awarding offices the various applicants When all the
available offices shall have been rented It Is estimates
that the net annual income from the building Will
amount to about $4,000 besides giving us free rent of
our own room. committee and classification rooms
The transactions In contracts for future delivery snow
total OF 462 900 bales for the last year against
"a, s28, 600 bales for the year ending May, 1854
1.-THE transactions in actual cotton show totai OF
500, 663 bales against 422 bales last year 81 ms
bales u 1884. The number 81 bales Tor
spinning during the past year was about 5000 less han
in 1884. since the month of July, 1884 print
cloths have been regularly called, but without resulting
in any transaction The question whether business III
only on the revival of trade fhe most important
legislation has been the adoption of an amendment
aboshng the penalties attached 10 the violation OF the
commission law"