The times., 1898-12-14
DISCUSS many SUBJECTS
Meeting Of the National Board
of Trade.
TOPICS OF MUCH MOMENT
Currency Reform Discussed-The
Bankruptcy Law Not Wholly Sat-
isfactory The Pan,-ma Canal
Route - OrEnnizations Admitted -
Delegates to the Convention-Rec-
concentrations to Congress.

twenty-ninth annual convention Yesterday
in the banquet hall of the Shoreham Ho-
tel. The noon and afternoon sessions were
consumed by the reading of reports the
reference of topics to committees and the
election of officers.
The convention was preceded by n meet
ing of the executive committee for the
consideration of its annual report
When the convention was called to or
der 1t was announced that. owing to the
illness and infirmity of President Freder-
/ ick Fraley. James Buchanan of Trenton,
N. j., one of the vice presidents of the
board would preside. Mr.. Fraley Is
ninety-five years old, and has been presi-
dent of the board since its organization,
In 1858.
Mr.. Buchanan. In his opening address,
stated that they were met as business
men to consider business propositions.
Messrs. Giddings of New York. Taylor
of Wilmington. Del. and Rice of Boston
were appointed committee on creden-
tials.
The report OF the executive council was
presented. 1t follows in part: ut is to
be regretted that Congressional action
has not yet been taken looking to reform
in the currency While the House at the
present session may take some action,
there is no probability that il will be IA
vorably received by the Senate. The
friends OF an improved, sound and elastic
system of national currency are at the
present time basing their hopes for reform
on the action of the Flfty-siNth Congress,
and hope that if 1t be called to meet in
extra session by the contingencies of
treaty of peace the currency question VIII
be among the first to be brought up.
f..lI IANt~ fl.4s
forts of the national board TO secure rem
ediaI legislation as to our banking and
currency systems. yet it is to be congrat-
ulated upon the outcome of its many
years of earnest and persistent work FOR
the enactment Of national bankrupt
law.
1.-The law is not considered wholly salts
factory, but it has been welcomed, how
ever. as compromise measure. The law
has not yet become fully operative,
the reason that the Supreme Court, unit!
quite recently. had not promulgated tie
rules. forms and orders required b. the
| act, the courts in a number of stances
having declined to proceed with the ref-
ercnce and adjudication of petitions
"The Supreme Court of the United
States in October rendered its decision In
the suit of the United States vs. the Joint
Traffic Association. which necessitateJ
the dissolution of that association. TIE
decision practically confirmed that of the
court in the trans-Missouri case, ard
| made 1t perfectly clear that under the
present laws no association can exist
having for its purpose the formation Of
an understanding or an agreement be-
tween railroads as to rates of freight Or
for their maintenance. The continued H.
terest of the ASSOCIATIONS comprising the
national board IN the problems involved
in the business of railroad transporter on
is again evinced By the presentation of a
| number OF suggestions for your consider
alton, bearing upon the Interstate COM
| merce law and proposed amendments
thereto.
THE construction of an inter-oceanic
canal between the Atlantic and Pacific
Oceans, a subject which Is again to be
brought to your attention, has now, BY
the acquisition of new territory, become
almost necessity, and will, no doubt b.
given early attention by Congress. This
is regarded by many as one of the most
important matters TO come before that
body. Heretofore the general trend of
opinion in this country and in this board
has been toward favoring the Nicaragua
route. but in view of the prospect of
| bitter contest between the two companies
| now holding concessions from the govern
ment of Nicaragua. 1t may be well for the
board to give some attention to the avail
ability of the Panama route.
THE war with Spain brought glorious
victory to the arms of this country and
peace now seems assured with all its
manifold blessings. The acquisition of
new territory Will bring added RESPONSE
bilities and will present new legislative
problems. The earnest hope is that pros
perity and happiness may be secured.
alike to the United States as we'll as to
the countries acquired under the terms
of the treaty of peace with Spain"
Touching reference was made in the
report to the memory of John A Gano,
of Cincinnati. and Jonathan \. Lane, of
Boston, members of the board who died
during the year The report was
adopted.
The report of the treasurer was SUBJ
mitted and showed balance on hand of
S473.55
John l.. Vance. of Ohio, moved that
committee of five be appointed to pre-
pare a set resolutions of regret at the
death of Mr.. Gano.
The election OF officers followed, and
Frederick Fraley of Philadelphia was
unanimously reelected president. A tele-
gram was sent to him notifying him of
the action OF the national board.
The following organizations applied for
Chamber of Commerce of Wheeling, the
National Sound Money League of Cincin-
natl, the Board of Trade and Bureau of
Transportation, the Chamber of Com
merce of Milwaukee, the United States
Export Association. the Board of Trade of
Lewes, Del; the Commercial Club of st.
Joseph, Mo-. and the Chamber of Com
merce of Minneapolis.
The report of the committee on creden-
tials showed the Following named men to
be delegates to the convention: New York,
William T. Benker, William III. Sharpe;
st. Louis, Percy Thompson w. T. Robin
son: Baltimore. Eugene Levering. Charles
A. Martin, Blanchard Randall. Joseph R.
Foard. Henry G. Hilken; Boston, Alden
Speare, James NJ. W. Hall, George II.
Leonard. Clinton White. Clevyn G. Pres
ton. John Hopewell. ]. r. Lesson, James
r. Carter. George w. Wheelwrisht; Ches-
ter Pa, William Fl. Berry, John ]. Buck
ley; Chicago, r. S. Lyon, James Nicol L.
W. Bodman, Z. A. Eckart, III. +. Dous-
man, ]. T Rawleigh, w. s. Warren. ]. G.
Steever. B. F. Howard. G. F. Stone; Gin
cinnati. J. f. Ellison, c. B. Murray.
William V. Ebersole, Edwin Z.
Gibbs, William n. Hobart, w.
W. Peabody, E. P. Wilson.
Maurice ]. Frieberg. ]. NJ. Macdonald:
Kansas City, w. p. Treckert, w. 5. Cow
herd; Minneapolis, Frank H. Plarey.
John Washburn, Charles M. Harrington,
George D. Rogers: New Orleans. Robert
c. Dorney. Adolph Meyer; Boston. VIII
liam B. Rice, A. NJ. Stone; New York,
Silas NJ. Giddings; Gallipolis O.. John L.
Vance, Fred. A. Lardley, C. p. Wilson:
Philadelphia, Andrew Wheeler, J.. Y.
Schermerhorn, Joel Cook. E. r. Wood, c.
Stuart Patterson, William NJ. Coates,
William R. Tucker, Joseph S. Perot.
Frank Halpen, Henry A. Fry. NJ. N.