Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-10

From the Superintendent's annual report
the following facts are culled: For the year
closing there have been received of
Cars. Cars.
Flour ,l7S Barley and malt /. l6l
1871 Millfeed.. l3S
Corn. . 696 IHay...............3,33 a, ,33s
Oats................3,540 d, $40 Straw......--..... 81
bNe .-......-..--.. .l,UOO
The increase over last year has been Al
cars of -four, l72 of wheat, 5S3 of corn, 259 OF
oats, 1sS of rye, 400 of barley and malt, IS OF
feed, lSS hay, and of straw.
Total receipts for the year 1S,047 cars or
an average of IS cars for every day of the
wear. The sales on Change are 500 cars
larger the past year than the previous year,
and 40 per cent above any former year.
The Treasurer's report shows receipts of
s., ,OsO 40 for the year, and expenditures of
s1,6O5 80, leaving a balance on hand of
s4s4 S.
The Report for the Year.
President j. c. Houck submitted a report
of last wears work which was received by
manifest tokens of approval from members
of the Exchange. Following is the substance
of the report: "At the start nine years ago
grave doubts were entertained by many as
to the ultimate success of the movement for
Grain Exchange in Pittsburg. But with
what enthusiasm We made our first salesi
You remember how one veteran member
purchased about all the sample oats, almost
regardless of price, and sold them in the
afternoon to the retail trade at his own
price. When the receipts increased he
stored the surplus in the elevator and soon
discovered he had an elephant on hand, and
did not know what to do with it. Like all
associations in infancy our enthusiasm soon
began to wane.
Like colts we were not yet bridle-wise
Experience as yet had not taught us to pull
together. False starts were frequently
made, and ended in diSappointments.
n Of these vi ha axrb M
sale dealer should protect the retail
dealer, in a certain stated profit, on
oats, corn, hay and feed, and when the sub
tect was considered by the wholesaler no
two retailers could be found who would
pledge themselves in this matter. Griev-
ances were frequently brought before the
Exchange. Sir William Gordon-Cumming
tactics created disturbances. Reformatory
influences were just being grated, and
needed time and pruning to mature. Arbi-
tration succeeded arbitration. Our veteran
ex-presidents were frequently called on to
define the bylaws and to settle questions of
dlsputatlon, so as toavo1d II possible arb1tra-
tion, which was considered rather costly.
Last, but not least, came the great tug of
war by the retailer TO prevent the reporters
OF the press from giving to the public the
wholesale market quotations of grain, etc.
Result of Time and Experience.
"But time and experience have wrought a
great change, and it is highly gratifying to
notice so large a number in daily attend
ance. Business is dispatched with prompt
ness. Contracts are fulfilled without disa-
greement. We are reaching higher sphere
of education, and it is remarkable that dur
ing the year all differences were settled
without the services of the Arbitration
Board, which is certainly very gratifying.
about June the attention of the board
was called to the fact that we would not
haSesufhcient funds TO meet the years ex-
penses.
''The matter was referred to the Finance
Committee, who suggested that the active
members of. the Exchange donate the re-
quired amount which was estimated at
about $3.50.
The result was that s27s was promptly
collected.
'Thus showing not only the wisdom but
influence of the Finance Committee in case
OF need, and who are worthy of our sincere
thanks.
"The Room Committee has been successful
IN leasing this beautiful and conveniently
located room, at Il rental of $500 per annunl,
including light, heat and water. They also
succeeded in reletting to the Western Penn
sylvania Brick Exchange the use of the
room once per week, at 500 per annum: to
the Co-u~,ercial Travellers Protective Asso-
ciatior orce per month, at SIS per .annum;
20 the Line and Cement Association once
per month, at S25 per annum. The sum
totals 500.
A Gain in Strength.
"This enables us to meet our obligations
with less burden, and, Notwithstanding the
we are gaining strength by securing those
who give their time and influence to the Ex-
change, nine members of which were thus
secured during the last year through the
inst .rtmentalitE. of the Membership Com
mitt e, who did their work nobly.
"1he Circular Committee deserves special
notice fer the efficient manner in which
st performed its work. In a year like
the last when fluctuations were sharp and
wide . was not an easy matter to keep pace
with the market. am aware that at differ
ent times complaints were heard; concern
ing the circular quotations, but would ask,
who will now undertake to do this most
difficult and unthanllful work as well as
this retiring committee, to whom we owe
our sincere thanks. The volume of business
transacted during the year exceeds any pre-
vious year in the history of the Exchange. /
refer you to the superintendent's report
which YOU will find quite interesting.
THE treasurer's report you will find salts
ia ctory, Us or $40 annual assessments will
now meet all our expenses, and should year
ly give us snail sinking fund, which will
make the association financially easy and
comfortable.
The Trade i'm Futures.
Trading in futures, by some of the active |
members, has had a tendency not only to
enlarge our daily business but to infuse |
more activity into the Exchange. 1t makes |
business active, and it's activity that we |
need to make business progressive. would !
suggest an increased trading in this direc- |
be greatly improved if the entire milling in |
terest of the city were represented. 1t |
appears to Dle that better bargains |
could be had here than at country |
points. l am satisfied a sufficient amount of |
grain would be consigned to the dealers |
here TO supply all demands. This CITY /
should not be an exception to other cities IN |
this particular. Our grain committee is fully
to grade aright our inspection is \
as rigid as other cities, our dealers are
honorable ard courteous, and if there be
anything wanting to bring about this much |
needed Improvement, let il be pointed out /
- u at once SO that the matter can be |
reraedied.
During the call we can facilitate the busi- !
ness greatly by not annoying the auctioneers |
in requesting sales of anything out of the |
regular order of business. This is certainly |
veiy abrupt on the part of members, and, 1 |
am satisfied, it's not q willful intrusion. / |
l.ope that one reference to this matter is |
sufficient.
"It is with sincere regret that record the
deaths, during the year, OF two worthy menI- 4
6ers of the Exchange, VIZ: Alexander
Greenawalt and our faithful inspector, Will |
lam Cuip. On the l2th ult., suitable action |
was taken on the death of William Culp and |
the Exchange attended the funeral in q 4
body. Nj. CulD WAS not only faithful Off
cial, but, a kind and honest citizen. The /
past year in more than one particular was
eventful. The partial failure of the grain
crops, has resulted in the most active mar
ket in the history of the Exchange. With /
low prevailing prices, in the years 1885, 1889
the advance, as permanent We argued,
that with so largely an increased acreage of
All KINDS of grain, extreme prices would not
again be realized
Resulted in an Advance.
The result was that wheat advanced in
this market about 17c to &c per bushel, corn
IOc to 45c. and oats SOC to SIC. This