The evening times., 1899-12-06
A LARGER LOCAL BOARD.
The Plan Discussed mt the stock Ex
change Banquet.

The Plan Discussed Mt the stock Ex-
change Banquet.
The annual dinner of the Washington
Stock Exchange was held last night at the
Raleigh Hotel nearly the entire active
membership being in attendance. The oc-
casion was considered one OF the most i'm
portant and enjoyable in the history of the
exchange. A general congratulatory spir-
it, over the large business of the past year,
was noticeable during the entire evening
and a number of projects looking to the
broadening of the influence OF the body
were discussed, which it is believed, will
ing year.
Among the subjects considered was the
desirability Of a much larger membership
to include all the prominent banking and
business men of the city. The question OF
a new exchange building. heretofore mem
toned in The Times, was also alluded to.
Stilson Hutchins, who made the propo-
sition that the membership of the ex-
change be enlarged said in part:
In my opinion, there ought to be in
Washington a representative body Of men
to speak for the city with some semblance
OF authority. Why not make the Wash
1nSslOU StOch LACHdiist ludt Dous ihSi c
should be such a body that could give
weighty matters of the city serious consid-
Grafton, ard give expression to its views
which would amount to something.
This body should erect a building. but
the exchange is not large enough to under
take such a proposition. The cost of such
a structure would be in the vicinity Of
$50. 900. Now, of the forty members of
our body. l don't think it possible that
everyone would feel like contributing a
thousand dollars or more toward such
fund. But if this meeting should tend to
bring about such an organization as that
to which l refer. you would have no trou-
BILE in electing enough prominent members
of the banking and business circles OF
Washington to make the proposed organi-
zation decided success and the erection
of q building a certainty.
The Washington Stock Exchange is by
far too limited. We have not twelve ac-
tive stocks on our list When look at the
record of the daily sales made by US am
strongly reminded that We are a weak but
aspiring board. We have lots of wealth
lodged in this city. however. I believe that
this body should have a broader field, that
it should bring in new securities, after such
have been thoroughly Investigated and pro-
nourced safe. We should have something
more to work on"
Mr.. Parker strongly endorsed Mr.. Hutch
ms suggestions. Mr.. Davis was not In
favor of widening the scope of the Ex-
change. Our body has a definite pur-
pose he said. that Of buving and selling
stocks. The proposed augmented mem
bership would not be interested in the
work in which we are engaged"
The proposition was also made by Hor-
ace C. Ffoulke that active stocks dealt in
on the New York Stock Exchange be listed
on the local Exchange. The proposition
was discussed informally. and much inter-
est was shown by all the members present,
but no action was taken last night
Charles J. Bell was the toastmaster of
the evening. Remarks were also made by
President Hibbs. John T. Arms, Frank J.
Pelouze. Albion X. Paris, William B. Cur
ley. Edward B. Cottrell. and William c.
Mearns. Following is list of those pres
ent: William B. Gurley. W. Riley Deeble,
Myron M. Parker. Lewis J. Davis, William
B. Hibbs, Stilson Hutchins. William A.
Mearns, Sanford N. Whitwell. Walter
Hieston, Edward B. Cottrell Frank L.
Pelouze, Wilson G. Reed, W. McC Wilson,
R. Jones. John T. Arms. Charles
]. Bell. William J. Fathers, Horace C.
A. K. Paris, and David A. Green
lees