New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-05-01
KING COTTON'S NEW PALACE.
FORMALLY OPENING THE EXCHANGE.

FAREWELL TO THE OLD Observation-Disclosures BY
MESsRs. HEWITT, GRACE, Low AND o5HfRs.
Between three and four hundred members Of the Cot
ton Exchange assembled yesterday in the room of the
building which they have done business in for many
years TO bid farewell to their old home and atcrward
to dedicate to the of commerce more of the
great exchange halls OF this city, which the members
will occupy from oday. At 113O a. m ex-President
James f. Wenman was called upon to deliver the val
edictory address. He referred to what the Cotton Ex
change had done in the development OF the cotton
trade OF the metropolis and the in diligence that had
been brought out by their associations e also said
1.-The politics of the country and Of all nations have
been weighed as n factor in the market the co1tngcn
cies of peace or of war ~ere here discussed in
Parliament or Congress. Climate and seasons
epdencs. and panics legislation and scientific dis
OOveries studied and reported upon and men grew
here III education as IN University. We &l'e 1ouhc
bow. amid all tides and storms. the members nave
fastened themselves 10 the mmOyabe anchor OF mercan
tile honor
At the close of Mr. wcnmans address Gimore's band
played AUD Lang Syne." The members hen formed
in procession in 'front.' of the old building under the
marshalship of William v King and the following aids
Abram Allen. IT.. S T. Hubbard. ir f. q. Millett and
e. K. Powers. Led by Gilmoie's band squad of
police and the officers Of the Exchange they marched
TO the new buildng and into the apartments he
large room Was ha. dsomcy decorated with flags.
flowers in pots and cotton plants At the east end oil
the large room raised platform Tor the gelsts,
among whom were Commodore Chandler, commandant
OF the Navy Yard Medical Director Spear. VINO was
surgeon OF the Roanoke in the Notwithstanding fight
Lieutenant w. Ia. jacques, Assistant Bishop Potter.
Mayors Grace and low Congressman Hewitt, George
I. johnson. q. ID. Baldwin, Postmaster Pearson,
Eugene Dutilh, Rufus l.. Cole. f. II. Parker William
Woodward jr., and delegates from other Exchanges.
After prayer by Assistant Bishop Potter. Walter l.
Miller chairman of the Building Committee, formally
presented the building TO resident Gruner with
long address, The president in accepting the rays
spoke of the present depression in the cotton bush vs.
and gave his this condition. lie looked vr
ward to prosperous times in the near future Con-
gresham Hewitt followed the president lie said that
such bodies not modern that they existed IN the
days of the Greeks and the Romans. Commerce did
not that merchant should strive 20 rob the
other that there should be chicanery aud rickery
IN nade generally supposed; but II meant the
exchange Of value for value based upon honesty ana
integrity The new Exchange vas palace ltted Tor
the reeorOnaton OF cotton when il ready to be
crowned again.
Mayor Grace next spoke and said that If he was dis
posed 20 give free rein TO fancy II would be possible 10
trace connection between cotton and almost all the
in proyemcuts of which this century boasts but u was
needless to make such attempt for the eddeaon OF
body OF business men who knew II all IL was enough
10 that the United States ad given the greatest I'M
pulse 10 the cotton industry that ts capacity Tor the
production Of this staple practically without mt
ana mat 1t within s powers TO supply almost tue
worlds demand
Mayor Low made bref address in which he congrat-
ulated The cotton merchants upon their success and at
the time called attention the fact that cotton
was no longer K,ngr Addresses made by dele
gates from other Exchanges. after which secretary
King read letters of congatulation and regret from
HILL and the Liverpool, National. New Orleans. Mobile
Norfolk. Charleston aud Houston Exchanges. The
Rev. DR. Gilbert pronounced the benedlctl0n, ana tue
band played" Home, Sweet Home"