The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-09-22
It's Inauguration and Organization
The Brainy Speech OF Presi-
dent Oppenheimer-lts
Object.
The Good That viii Accrue TO the
Farmer In the-Saying of Time
And MOney-The
Advantages Its Existence viii Procure
for Dallas as Il Market.
Sumptuous Repast for the Guests The
Cake Ranlc.
Its Powers In Facilitating Business

one OF the most tulo9doIe, Suggestive
and prognostic events in the history Of
Dallas occurred on yesterday at the rooms
of the Merchants Exchange, on Elm street.
The object of the meeting, as previously
announced, was the establishment of Cali
Board in Dallas. When the rooms were
filled the chairman called the meeting to
order and addressed the audience in the
rIain, mercantile, but most pointed re-
marks, which are given elsewhere.
Many do not know the exact significance
ofa "call board" 1t is simply this; An
organization is perfected by responsible
men and merchants, under mutual obliga-
ton to make offers on certain products to
| he sold in market. A merchant or farmer
desires to sell his crop whether it be of
cotton, corn, wheat, oats or truth TACT
anything marketable that springs from
agricultural labor. He sends his oiler
for sale to the board, and 1t is
offered for sale. Competition - rife
| bidders are on hand and he gets the very
highest price obtainable without dickerng
and without his personal presence, For
| instance he sends cotton-middlings the
standard-the offer is bid on and the mem
bers of the board all bid in competitive
struggle for the purchase. Ii the cotton
turns out to be middling he gets middllng
prices if less. it is settled for anyway
but on middling principle at standard
prices. SO with wheat-No. being the
standard.
On this plan the seller gets all the com
petition without trouble or expense, and
the buyer gets chance at everything III
the market. The stuff is put up ana every
49,, h;l ythiIgt tha Npplpr lpng
have to hawk the streets. 1t is called for
him and he is not mere street-hnwker,
subject to every species OF fraud and cheat
ing.
GENTLEMRN:-A little over three months.
ago we met here TO inaugurate the Mer-
chants Exchange of Dallas, and, while the
ioundersweresanguine ofsucCess, still great
many of those assembled here at that time
predicted failure of our enterprise. Even
those most interested feared that there
might not be sufficient interest developed
to insure a regular and constant attendance
at our meetings, hence few OF us pledged
ourselves to each other to attend at least
for 10 minutes each day. We thought at
the time when this pledge was gwen that
we made a sacrifice of Just these 10 min
utes. After our Exchange had been in eX-
istance only few days, not alone did we
remain 10 minutes, but we found 1t to our
interest to remain one hour, and during
| that hour the members transacted more
| business than they could have done by run
ming around town for nearly halliday.
/ Our attending the Exchange had become
not sacrifice but II necessity, aud ! do
| not think there is single active member OF
our Exchange to, day who cannot do other
wise but to admit that the Merchants tX-
/ change has been a source OF profit to him,
I The establishment of the Exchange has
] brought many orders here, which, other
, wise would have been filled at other towns
/ because il is sell-evident that dealers in
| grain would not alone give us their s'rcser-
ence, but rather pay US u little higher price
when they are aware that we are governed
/ hy laws and rules governing all great grain
centres, than to order from other points
where they have to take all risks and would
/ In case o. disagreement have no recourse
| but to the expensive and slow method pro
yided in our courts of justice, and, there
fore, ! am confident that the knowledge OF
the existence of our Exchange has greatly
added to the volume of our trade this past
season, and am positive, if our merchants
are true to themselves, the time is
not far off when the countries depend
ing on Texas grain will look to Dallas
and to Dallas only rs the source from
which to draw their supply, 1t is true
/ we may need then more elevator ware
houses, etc, but these will surely be built
rs soon as the necessity therefor becomes
apparent.
/ While the members Of this Exchange eau
he Justly proud ut what they have accom-.
pliShcd, still they are not willing to rest
upOn their laurels, but seek for fields fresh
and pastures new, and therefore We have
met to-day 90 add another feature to our
Exchange. | refer To the Call Board. Most
you, gentlemen, are no doubt familiar
with the modern operation, and | will
therefore not stop to explain it, rs it would
take too much vi your time, but even tGoSA
familiar with the workings of u call board
will ask me, "uow will it benefit Dallasp'
Let me state right here that the
prime motive for the establishment
of the Merchants Exchange has been to
benefit Dallas, and all steps taken in the
past and those that may he taken in the
future by this Exchange have as their
prime object the advancement of Dallas.
If Dallas grows aud proSpCrs we shall not
be the losers by it, and if our exchange
prospers every citizen IN Dallas will find
himself directly or indirectly benefited, In
order to show you logically how call board
will help Dallas, | will Just give you some
few statistics; In lSI9SO our cotton IL.
Ccipts have been 81 ,0ii bales, lSS0.Sl, Il, 632;
lSSl.S2, 25,iTO. While do not think that
our receipts will continue to shrink at the
same rate, until bale of cotton will be.
como a scarcity aud n wonder on the streets
OF Dallas, still we think II is in our power
not only to stop this decrease, but to derive
= system by which we can quadruplc our
receipts in less than three years from to-
day,
The system OF call board gives mer.
chants here rs well us those living in the
surrounding country an opportunity To
sell their cotton in advance for future dcliy.
cry, aud sell 1t here ON this exchange to the
highest bidder. They cannot alone sell it
themselves, but also can come here any
day NJ n thrilling cost ami superlntend the
7, delivery and thereby protect their interest
IN all respects, Heretofore they have shin,
ped and do ship now their cotton io New
Orleans, Galveston, st, Louis or even New
York, either on commission or against fit,
! tutc contract, They cannot on account OF
time and expense 90 to these cities every
tune they sell few bales, and thus thcil
interests are wholly left in strangers hands
aud dare say a great many shippers hay,
: not q very encouraging profit and loss nc
count.
Instead Of shipping their cotton 800, | .OVl
or even 5000 miles away, will Il not be /,
their interest land they will soon see ID I,
ship their cotton TO Dallas, point aocessi
BILE to thcm with a few hours ride, and So,
for themselves that their cotton brings fll
value2 But you will tell me that the freigh
} coming here will eat M all profits. Under or
= a,narx al IN, NJ anssa n unnll has 4 -