The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-01-29
NATIONAL BOARD OF TRADE.
The Sixteenth Annual Session = officers
Chosen for the Ensuing Year.

WASHINGTON, Jan. 28.-The National Board
annual session, Frederick Fraley, Of
Philadelphia, presiding. About forty delegates
are present. representing the Baltimore corn
and -four exchange, the boards of New York,
Philadelphia, Baltimore, Chicago, Detroit, In
dianapolis, Portland, Oregon. and Trenton; the
Cincinnati Chamber of Commerce. the Boston
Merchants Association, the New York Chamber
of Commerce, and the San Francisco Chamber
of Commerce. The annual report of the execu-
tive council was read. 1t refers specially to the
depression in the Industrial interests Of the
country. the shrinkage Of values, the unproft-
able character of production in many
branches of manufactures, and the general un-
certainty of the markets. 1t states, however,
that there are signs that this present period of
depression, uncertainty and loss is about to give
way to one of revived activity and enterprise.
The report deals also with the questions of ficti-
tious bills of lading, bankruptcy legislation,
interstate commerce., relief for American ship
ping, reciprocal trade with Canada, amendments
to the national banking law, and the foreign
commercial relations of the United States.
Following the reading of the report, on motion
OF S. F. Covington, of Cincinnati, the c~onstitu-
ton or the board was amended so as to provide
for the annual election Of one vice-president for
every constituent body represented at the meet
ings of the board.
The board then organized for the ensuing
year by the reelection of Frederick Fraley as
president and the election, among others. of the
following vice-presidents: George NJ. Howe, Of
the Chicago Board Of Trade; S. F. Covington,
Cincinnati,C Chamber of Commerce; Phil O. Par
sons, Detroit Board Of Trade; John III. Holiday,
indianapolis Board of Trade; G: NJ. Lorine,
Minneapolis Board of Trade; Hon. John F.
Miller, San Francisco Chamber of Commere; E.
P. Bateman, Milwaukee Chamber of Commerce,
and Hon. d. M. Sabin, st. Paul Board Of Trade.
Following the election of officers the question
of amendment of the present laws in relation to
bills OF ladlng was taken up and discussed at
great length.
Mr.. Higgins, of the New York Chamber Of
Commerce, asked the board to adopt the follow
ing resolution, submitted by that chamber:
Resolved, That the passage of House bill No.
7163, reported by Mr.. Long, of the committee on
m to regulate the forms of bills of lading.
and the duties and liabilities of ship-owners and
Others, is demanded by the urgeut necessities of com
merce."
Mr.. Milne, of Chicago, pointed out that the
provisions of the bill applied only to liability of
ocean carriers. He asked if it could not be
amended so to as to include within its provisions
bills of lading originating in the interior of the
country, and given shippers of through freight.
He said the largest portion of the cargoes ship
ped from New York consisted of this class Of
freight.
Mr.. Higgins expressed a fear that to attempt
to amend the bill now would imperil its passage,
and might lose to them the advantages gained by
a years work upon it.
Messrs. Blake and Nelson, of Chicago; Coving-
ton, of Cincinnati, and Mullen, of Portland,
Ore, took the same ground as that taken by
Mr.. Milne. They expressed themselves in favor
of the bill, but wanted it amended so as to pro-
tect western shipping interests. Mr.. Covington
said the passage of the bill in it's present shape
would practically invite Western river carriers
of freight to put into their bills of lading the OBJ
jectlonable features put in such bills by ocean
carriers. In answer to a suggestion by Mr.. Hig-
gins that Western river ship-owners are under
the control Of this government. and thatshippers
could have recourse to the United States courts
if imposed upon, Mr.. Covington said the courts
are falling under the influence of the carriers,
and particularly of railroad men, and that ship
pers are fast losing all their rights.
Mr.. Blake-It is the opinion of the Chicago
delegation that the bill is sectional; that it pro-
poses to confer benefits upon shippers at sea-
board ports that inland shippers cannot take
advantage of. He said the board is not in ses-
sion for the purpose of recommending sectional
legislation.
Mr.. Higgins defended the action of the New
York Chamber of in recommending
the bill, and denied that they were seeking to
obtain sectional legislation. They have sought,
he said, to secure such legislation to remove
certain burdens under Which the merchants of
the seaboard labor, sand they have not found
western men la00rlng with Congress to secure
the enactment of the legislation which they now
ask should be incorporated in the bill, on which
the Chamber of Commerce had worked with
Congress for two years.
Mr.. Snow, of New York. argued in favor of
adoption of the resolution as recommended by
the Chamber of Commerce, without amend
ments, which would delay the progress of the
bill, which was now in a forward state before
Congress.
After a long and animated discussion the
Western men consented to the adoption of the
resolution, with the understanding that another
resolution, looking to protection of their inter
ests, should come up for action. This second
resolution was, after several attempts to frame
a suitable one, finally drafted and agreed to
unanimously. 1t is as follows:
Resolved, That this board fayors further legislation
which will extend to inland carriers the principles of
house bill 7163, to regulate the form of bills of
fading.
Resolutions in favor of the enactment of a
national bankruptcy law from the Philadelphia.
Providence, New York and Bridgeport Boards of
Trade, and the New York Chamber of Com
merce, which were on the official programme for
consideration, were referred for further consid-
Grafton to a committee consisting of Messrs.
Janney, Miller, Nelson, Wood and Gymond.
1t was arranged to have a banquet tomorrow
night. Adjourned until tomorrow.