Montreal, December 2. r ».—The Merchants' | Exchange, a large four-story stone building, opposite the Montreal Telegraph Company's office, took fire last night about ten o'clock, and, in spite of several streams of water, burnt furiously until two o'clock this morn ing. The building was completely gutted. The telegraph office was in considerable | danger at one time. There was, fortunately, not much wind.

The chief of the fire brigade was hurt and