New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-06-01
COTTON EXCHANGE NETTING
ADJUSTMENT OF WAR TAXES AND AN AZ
PEAL TO THE GOVERNOR ON STATE
TAXATION CALLED FOR.

Tb. twenty-ninth annual meeting OF the new
York Cotton Exchange was held yesterday
REPORTS Of the Board OF Managers. treasurer 20
ecu,ive Committee Warehouse and DehVery |on-
rnIttee inspection bureau and trustees OF 'ho
grs,uity fund were submitted and approved. tnese
reports showing that the Exchange has hau
satisfactory year The report OF the Boaru vi
Managers which Is signed by President hooh-
son and Secretary Billiard, Is. In part as io''o"S
We deem It not improper to say that the Inter i-
nal Revenue law. commonly Known as thI than
tax" while bearing more heavily upon thn os t,
upon many other Industries. has 6een cheeIiIuIny
paid by the members OF the Exsnahge, amI
have made attempt TO nave me uispropo, uood
in the tax readjusted. because or the great nteu
which still exists for money ~ vne 70 nd much
when necessary as a war measure, an eILo.s
bv the interests Disseminated against to effect an
adjustment OF the taxes. because the stamp taS
&c likely to continue for a considerable time, ana
may become a permanent feature OF INTERNAL rev
enne -.,..,. -, ...,,r. ,v,,h
ragard 10 State taxation unparalleled in the his
tory OF the city because the law Is fraught win
lie even IN both thai the tax Valuation and
the tax rate Will. believe. prove more burden,
the CITY than to any other and the members OF
this Exchange will doubtless nave 70 Hest CT, ~
a nesS Sea nrr Combined eort by this and other
ranizations interested should, we believe be ma de
memorial TO His Excellency Governor Roosevelt
10 interest himself in the removal or this inequa-
ity
Tho report OF the Warehouse and Delivery COM
rnittee is very satisfactory. It will be- seen that
there has been of cotton for inspection
and certincatlon There were Inspected and GER
tIncates issued for 1f4s5 bales from May l. 1885, to
April 90 1899 inclusive. During the same period
certificates for & 1873 bales cancelled leaving
certificates outstanding April 30, 1899 for l02-
AIS bales OF cotton.
The trustees OF the gratuity fund report assets
sll7455 a. and liabilities $3.50 leaving balance to
the credit Of the fund OF $6i0D14.
In consideration OF the favorable condition or
tha finances OF the Exchange-the treasurers state
ment showing a surplus OF 1895 6O-the Board
recommends that the dues for the coming year be
fixed at so and that the sum OF so be credited
10 each membership from the earnings OF the
building and Of the Exchange.
The treasurer's report shows that the combined
profits from the building and the Exchange have
exceeded by 50 $50 SO the estimates made by the
Executive Committee at the beginning OF the year
The Executive Committee reports that All except
one OF the Offices In the Exchange building are
rented the total estimated rental being %5bOO,
against the actual rental OF $5532 rs last year
Twenty-Five memberships have been transferred
in the course OF the year. thirteen new members
have been admitted, and four memberships have
been purchased and cancelled by the Exchange.
the total number Of memberships outstanding be-
ing now $50 Fourteen members have died since
the last annual report submitted.