Am Aprif,"  ?9hi7m'  )    The  Philadelphia  Drug  Exchange.  I9I 
Returns. 
First  year :  25  pounds  of  oil  per  acre,  at  80  cents    $20.00 
Succeeding  years  :  35  pounds  of  oil  per  acre,  at  80  cents   28.00 
In  these  statements  no  allowance  is  made  for  such  charges  as 
taxes,  insurance,  interest,  or  depreciation  of  outfit.  It  is  doubtful 
whether  the  production  of  lemon-grass  oil  would  be  profitable  if  all 
overhead  charges  were  placed  against  this  crop  alone,  since  the  dis- 
tilling plant  would  be  in  use  only  a  few  weeks  in  a  year.  However, 
if  grown  in  connection  with  other  volatile-oil  plants,  so  that  a  long 
distilling  season  would  be  secured,  it  is  believed  that  this  crop  will 
yield  returns  comparing  favorably  with  other  crops  grown  on  the 
same  type  of  land. 
THE  PHILADELPHIA  DRUG  EXCHANGE. 
The  annual  meeting  of  the  Philadelphia  Drug  Exchange  was 
held  on  Tuesday,  January  23,  191 7,  in  its  rooms  in  the  Bourse 
Building  and  the  work  of  the  year  reviewed.  Mr.  Clayton  F.  Shoe- 
maker, Chairman  of  the  Committee  on  Legislation,  presented  on 
behalf  of  the  Board  of  Directors,  the  fifty-sixth  annual  report  de- 
tailing the  general  conditions  of  business  with  special  reference  to 
the  interests  of  the  drug  and  chemical  trade  and  the  rapid  growth  in 
exports  by  reason  of  war  conditions.  Treasurer  Anthony  M.  Hance 
presented  the  financial  report  for  the  year. 
The  following  officers  were  elected  for  1917:  President,  John 
Fergusson ;  Vice-President,  Harry  B.  French ;  Secretary,  Joseph 
W.  England;  Treasurer,  Anthony  M.  Hance;  Directors:  Charles 
E.  Hires,  A.  Robinson  Mcllvaine,  Dr.  Adolph  W.  Miller,  Harry  K. 
Mulford,  Adam  Pfromm,  Clayton  F.  Shoemaker,  Richard  M.  Shoe- 
maker and  Walter  V.  Smith, 
Addresses  were  made  by  Mr.  Adam  Pfromm,  Mr.  Walter  V. 
Smith  and  Mr.  Geo.  E.  Bartol,  President  of  the  Philadelphia  Bourse. 
Mr.  Alexander  C.  Ferguson,  formerly  of  Fergusson  Bros.,  who  has 
been  actively  identified  with  the  drug  brokerage  and  commission  busi- 
ness of  Philadelphia  for  more  than  fifty  years,  and  for  a  number  of 
years  was  Secretary  of  the  Drug  Exchange,  made  an  address  re- 
plete with  interesting  incidents  of  the  development  of  the  Exchange 
since  its  organization  in  1861.  By  recent  action,  the  Board  of  Di- 
rectors decided  against  a  propaganda  for  the  adoption  of  the  metric 
