Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-10-01
The MINING EXCHANGE.
Important Proceedings al Last Nights
Meeting,
THE INSTITUTION TO GO on.
The Exchange win Make an Exhibit
nj The Territorial Fair.

place In the rooms " the Salt Lake
stock Exchange, when the following
business was transacted:
Secretary Horn read the call and
sald every bill against the exchange
had been paid, leaving something over
slO0 In the treasury. There was due
and owing the exchange for dues about
ti.lo3.T5, and assessments, s945; total
Of s9,iss.T5; and about half the mem.
beers - forty eight - were delinquent.
Several other inquiries were made as
to the financial standing Of the OK
change and the number Of mines that
had paid their listing fees. The -ecfc.
tary further said that strenuous efforts
had been made TO collect the money
due but with little or no success. On
the let Of October, all mines In arrears
must be erased from the blackboard aud
the names Of all members IA arrears
must be- stricken from the roll Of mem.
bershIp IN accordance with recent
resolution Of the board Of directors.
This step must be taken on the LIST, un-
less some action resembling the resOlu-
tlon was taken this evening.
Hr. Hirsching sail he thought the
board Of directors deserved n vote Of
censurc for neglect " duty In allowing
mines 10 be listed whole year without
the payment of any duce.
Mr.. Hyde was Of similar opinion.
He wanted 10 list certain mine, but
was told be could not do 70 without
first paying siOD. Yet a great many
other mines had been allowed 10 re-
main on call without the payment Of n
solitary cent.
Mr.. Hirpchlng said he proposed 10
offer resolution censurlng the hoard
u directors,
Mr.. Mecar said he objected 10 any
such proposition. The old board was
dead and he saw no reason for kicking
n corpse. The new board deserved no
censurc.
Mr. II. q. Wallace wanted to know
what the monthly expenses Of the eN-
change were, ana he was informed
that they reached between sls5 and
$3.50 per month.
MIR. Davis thought the expenses
might be reduced and Secretary Horn
said he would be- perfectly willing 10
do anything In his power graiis.
Nj. Hlrsching here offered his reso.
luton Of censure, but II failed 10 re-.
ceivc a second, and fell 10 the ground.
Mr.. Mocars thought In consideration
Of the fact that many mines were listed
when the exchange nrst opened, with.
out the request Of the owners, he lid
not believe that the owners Of these
mines should have bills pressed upon
them.
Colonel Donnellan was Of the opln-
ion that thirty days more time should
he given before the resolution recently
passed by the board Of directors should
he put In force, aud he made n molten
20 that effect, aud also that n commit
tee be Appointed 10 walt upon the dellD
quent mines aud members and make a
further effort TO secure the money due.
Mr.. NJ. X. Parsons said Ms one OF the
delinquent members ho was willing to
put up his check, providing the ex.
change were kept alive. lie thought
the matter Of life or death could he
decided In ten days rs well as thirty.
MIR. Conklin thought that 10 let the
exchange die at the present time
would no big calamity. lie
knew this from his personal cor.
tespOndencc. The exchange was
now well known throughout the Unit
ed States and to let II die would be- 10
give a black eye 10 the mining Industry
OF the Territory. Every business man
Ia Salt Lake, whether member Of
the exchange or not, was directly
Interested In the success Of the Organi.
zation. lie was satisfied personal
visit 10 the delinquent members would
show that they were willing TO pay
their dues and assessment-. He hoped
the resolutions Of Mr.. Donnellan would
pass.
MIR. Hyde also spoke In favor Of Mr..
Donnellan and thought II would be n
good idea 10 try and increase the
membership ofthe exchange.
Mr.. Parsons wanted 10 amend the
motion No as 10 make the time extended
ten days instead Of thirty.
lie was ruled out ~ order, and the
motion Of Mr.. Donnellau passed.
Mr.. Donncllan wanted TO know
whether the secretary could inform
the members as TO the lowest figure the
exchange could he run for.
Mr.. TT.week said the board OF difec.
tors would meet In a few days, when
that matter could be considered.
MIR. DOnnelan thon offered resolu.
ton 10 the effect that II bo the sense Of
the meeting that the mining exchange
be continued.
Mr.. rreweek took the floorand spoke
TO the resolution, showing how im.
portsnt 10 the territory was tho mining
exchange. There was considerable
ignorance IN the east In regard To the
mines Of Utah, and they should be-
more prominently advertised In
the big mining Journals Of the
east 10 say that the exchange should
10 down was all rot. Everybody was
interested IN the life OF the exchange,
yet tho merchants aud bankers had
given II but very little support. Many
millions were n he soon Invested In
the mines of the west, and Utah should
get her share. He referred to the good
work done for the exchange by the
pres of Utah, and when he closed, Mr..
Meehrs offered resolution 10 the effect
that the press OF the city and Territory
was entitled 70 the thanks NJ the ex-
change for the support given II. This
resolution went with o will.
Mr.. Horn called attention TO the
amount VI information dispensed by
The mining exchange IN tho shape Of
circulars, etc, aud said that the postage
bill some months amounted 10 Ms much
as $3.50 The existence Of the exchange
was n protection TO the mlning In.
dustry Of Utah.
Mt. Hirschlng thought au assay
oiiicn should he established Ia connec-
tlOu with ila aNghuuua