[Trade Journal]
Publication: Twenty Ninth Annual Report of the Cincinnati Chamber of Commerce
Cincinnati, OH, United States
vol. 29, p. I,21-23,27,36-40,199-208, col. 1
TWENTY-NINTH ANNUAL REPORT
OF THE
CINCINNATI
CHAMBER OF COMMERCE
AND
MERCHANT'S EXCHANGE,
FOR THE
COMMERCIAL YEAR, ENDING AUGUST 31, 1877.
CINCINNATI:
GAZETTE COMPANY, PRINTERS AND PUBLISHERS, FOURTH AND VINE STS.
MDCCCLXXVII.
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CINCINNATI CHAMBER OF COMMERCE.
ANNUAL REPORT OF THE BOARD OF OFFICERS.
CHAMBER OF COMMERCE,
CINCINNATI, September 1, 1877.
To the Members of the Chamber of Commerce:
In compliance with the requirements of the Constitution of the Chamber of Commerce and Merchants' Exchange, your Board of Officers have the honor to submit the following brief report of the financial affairs of the organization and a statement of such transactions of the Board and the Chamber as are considered of most importance.
It has been the earnest desire and endeavor of the Board to inaugurate and maintain a rigid economy in the management of funds of the Chamber. A reduction in the salaries paid to the Superintendent and employes of the Merchants' Exchange was deemed advisable, and the Board ordered a general reduction at the beginning of the past year. The Treasurer's exhibit of the financial condition of the Chamber will be read with interest. It is shown that the receipts from membership dues were $26,580, as compared with $26,923 50 for the year previous, a decrease in the revenue derived from this source of $343 50. From rent of offices the Chamber received $3,893 82, against $4,546 50 for the previous year, a falling off of $652 68.
For initiation fees $850 were received, or $300 less than during the preceding year. The receipts from subscribers' tickets were $1,810, an increase of $200, and from clerks' tickets $390, an increase of $15. From interest and premium $1,433 87, increase $160 99. The largest item of expense was, as usual, for salaries, the amount expended for this purpose being $9,630 98, against $10,648 37, showing a reduction of $1,017 39. The amount paid for rent remained unchanged, being $8,600. There was a reduction in the expense for telegraph reports of $223 11, and for the annual report of $166 70. The total receipts for the year were $36,355 94, and the aggregate expenses were $32,229 88. At the beginning of the year the Chamber held $13,000 in United States bonds; subsequently this sum was increased to $28,000, that being the amount now constituting the Reserve Fund.
The general fund account shows a deficit of $10,873 94, while the reserve fund increased $15,000,anetgain of$4,126 06during the year, reckoning the bonds at par. The membership of the Chamber remains about the same as during the last three years. The daily attendance on the floor of the Exchange has shown a marked and gratifying increase, demonstrating the growth and high estimation in which the members regard its advantages.
The hall and offices of the Chamber have been thoroughly cleaned and re-painted during the summer, and now present a greatly improved and attractive appearance.
Attention is directed to the further improvements in the value of our market reports, and to the fact that the high standard of our statistics has been fully maintained.
The President has appointed Messrs. S. V. Reid, Edmund H. Pendleton, Luther H. Parker, Lewis Glenn and John B. Gibson a Committee from the Chamber of Commerce to confer with Committees from the Board of Trade and Mechanics' Institute, relative to the holding of an Industrial Exposition in this city in 1878.
In response to an invitation to the Chamber of Commerce of Charleston, South Carolina, to visit our city as guests of the Cincinnati Chamber of Commerce, twenty-seven of their representative business men arrived here on July 16th, and on being escorted to the Chamber were warmly welcomed by President Eggleston. Mr. Tupper, President of the Charleston Chamber, responded. Subsequently, the visitors were entertained by Committees appointed by the Chamber, and by other citizens.
September 22d; this body subscribed $500 for the benefit of the sufferers by the yellow fever scourge at Savannah, Ga. This amount was increased by individual subscriptions by members of the Chamber and others.
June 8th, the Chamber voted to donate $1,000 for the relief of the citizens of Mt. Carmel, Ill., great distress being occasioned there by a tornado.
June 18th, the subject of appropriating the funds of the Chamber to charitable purposes was discussed at some length, several members arguing that our charter restricts the funds of the organization to the uses of the Chamber only.
Subsequently the following amendment to the Constitution was proposed, and is to be submitted to the Chamber for adoption September 11th:
*"AMENDMENT TO THE CONSTITUTION."
Be it resolved by the Cincinnati Chamber of Commerce and Merehants' [sic] Merchants' Exchange, That the Constitution of this Association be, and the same is hereby amended, by adding thereto the following amendment, which shall take effect immediately on its adoption, to wit:
"ARTICLE XIX. Section 1. There shall be no donation or gift of the moneys of the Chamber of Commerce for any purpose whatever, except by a three-fourths vote of the members present and voting thereon. Such vote shall be by ballot, and shall be taken between the hours of 12 M. and 1 o'clock P. M. on the next business day following the day on which the resolution making said donation is read before the Chamber."
February 21st, Chamber adopted a resolution that our Representatives in Congress be urged to insist on such an appropriation as would insure the steady progress of the work on the United States Government building, in course of construction in this city, and that it was the opinion of the Chamber that not less than $750,000would be sufficient for the purpose.
March 17th, the Chamber adopted a resolution requesting our Representatives in the Legislature of Ohio to endeavor to have existing laws so revised as to promote the security of commercial transactions by regulating the issue, negotiability and transfer of bills of lading, storage receipts, and like commercial instruments.
April 4th, a resolution was adopted setting forth that in the opinion of this body any additional bridges across the Ohio River, at Cincinnati, are wholly unnecessary for the public accommodation or convenience, and that further erection of any other than suspension bridges would seriously interfere with the commerce and vast business interests of the western rivers and the territory bordering on them, and requesting our Representatives in the General Assembly of Ohio to vigorously oppose any legislation contrary to the above expression.
On July 7th the following propositions were submitted to the Chamber and adopted, to be added to the official list of subjects to be discussed at the meeting of the National Board of Trade, held in Milwaukee, Wisconsin, August 21st, viz.:
By Hon. C. W. Rowland:
Resolved, That the National Board of Trade, in view of the near approach of the time appointed for the resumption of speciepayments, and also in view of the character and effect of the CoinageAct ofApril 12, 1873, respectfully recommends to the Congress of the United States aconsideration of the propriety of re-establishing the silver dollar, of the weight and fineness existing at thetime ofthe passageof said act, asa unit ofmoneyvalue.
By John A. Gano, Esq.:
Resolved, That the Cincinnati Chamber of Commerce recommends to the National Board of Trade, the re-establishment and continuance of an index of subjects which have been considered by the Board, and the final disposition of them.
By Hon. C. W. Rowland:
WHEREAS, The effect of the Resumption Act is, in the opinion of this Chamber, working un-neccessary hardships to the industrial and financial interests of the country, creating apprehensions of depression and disaster, and believing that the Government can make no adequate preparation for the resumption and maintenance of specie payments at so early a date as fixed by said act, and that, with silver remonetized, the public debt properly funded, and the exercise of a rigid public and private economy, we may safely await the time when natural causes and healthful conditions shall indicate a date when the resumption should be enforced by law; therefore,
Resolved, That the National Board of Trade respectfully recommends to Congress such modification of the Resumption Act as shall postpone the time of its enforcement.
By John A. Gano, Esq.:
Resolved, That the third sentence in Section 3 of the act of Congress, entitled "An act to provide for the Resumption of Specie Payments," approved January 14, 1875, which reads as follows: "And on and after the 1st day of January, 1879, the Secretary of the Treasury shall redeem in coin the United States legal-tender notes then outstanding, on their presentation for redemption at the office of the Assistant Treasurer of the United States, in the city of New York, in sums of not less than $50," be amended, so as to read: "And on and after the 1st day of January, 1879, the Secretary of the Treasury shall redeem in coin the United States legal-tender notes then outstanding, on their presentation for redemption at the office of the Treasurer of the United States, at the office of any Assistant Treasurer of the United States, and at the office of any National Bank which the Secretary of the Treasury may designate."
During the year the Chamber lost, by death, the following members, viz.: Captain James Bugher, Enos Sellew, John George Sohn, Micajah Bailey, D. L. Garrison, Frank Limberg, John S. Law, Abram Swift, sen., Thomas Murdock, John T. Warren and L. W. Van Dyke.
The Board of Officers had the pleasure of electing our fellow-citizen, J. F. Torrence, an honorary life member of the Chamber.
In conclusion, the Board deem it proper to call the especial attention of the members to the subject of the erection of a suitable building for the purposes of our Chamber of Commerce and Merchants' Exchange. This matter has been frequently referred to informer reports, and the approaching termination of our lease on the premises now occupied, calls to mind the desirableness and necessity of taking steps at an early day looking to the erection of abuilding commensurate with the wants and importance of our organization.
In behalf of the Board.
BRENT ARNOLD, Secretary.
* The amendment was lost, not having received the constitutional amendment.
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GENERAL REVIEW.
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THE MANUFACTURES OF THE CITY OF CINCINNATI.
Table showing the cash capital invested, the value of real estate occupied, and the number of hands employed, and the various classes of manufacturers in the City of Cincinnati and immediate vicinity, together with the aggregate value of the production, and the number of establishments engaged in each, for two years:
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a, Estimated.
b, 27,465,159 lbs., 1876.
c, Previous year’s figures.
d, 8,615,924 gallons, 1876.
e, 16,137,944 gallons, 1876.
f, 8,170,713 gallons, 1876.
g, 79,815,625 Cigars, 1876.
* But one furnace in operation within the year.
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*This table embraces solely such exports as are daily reported on the books of the Merchants' exchange, but does not include any movement embraced in supplemental reports or returns; see Crockery, Horse, Pig Iron, Salt and Starch.
† Embraced under the head of bacon.
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