The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-12-13

DALLAS MERCuANTs EXCHANGE.
We publish this morning the prooeedir 10
of the board ofdlreCtors Of the morohanlb'
exchange, aud they should DO read by ev'
cry one interested In this all-permoaling
and most ipporicnt 'ps'ifu''or. ltw'O be
seen that the board propose TO connect
with IL the insurance feature, which 10
usual and has been such marked SUCCESS
In similar enterprises Of the larger cities OF
the Union. Under the proposition thus
determined on, and to be submitted for &C
ton to the shareholders on tbe
18th instant, every one who is now
fortunate enough to be member Will have
his life insured in the sum of 81 GOO by O small
assessment viz. $5.0 90 for each OF the zoo men,
hers. Provision is also made to prevent the
assessment from exceeding this figure by
smpowering the board to dispose OF surren-
dared or vacated memberships by selling
the certificates to such as may wish to
become members, and at the highest obtaina-
BILE price. The initiation fee, from and alter
the adoption OF the propositions as pre-
sented is to be 81 900, the present par
value being $500.
PRESIDENT OPPENHEIMER with his
usual energy, skill and zeal, has
drafted the plan, after much deliberalion'
with considerable care and in conformity
with the method most approved by success
full associations elsewhere and for years IN
fine operation. Under the constitution a
member NAV sell his certificate, or share,
emitting him to seat in the exchange
provided he be acceptable to that body
and under this supplemental plan the &C
cepted purchaser may also receive the IN
surance benefit, provided he be not over
forty.five years of age, and OF good htalth
as shall be certified to by the boards ply
sician. If over that age, or IN
moor health. he will however, then,
have to pay the $1,000 initiation, and
also be subject to election By the board
under the rules
We remember attending, some years
ago the Philadelphia Merchants associf-
tion with this insurance feature attached,
when the late and lsmented COLONEL JOHN
w. FoRsEY made singularly eloquent al
dress to the members, who were then cele-
bratipg. we think, the centennial OF thel
association. Old heads, whitened with tne
silver streaks of ftime, were there In nu m
hers. and they felt toward one an
other like q devoted brotherhood that had
become sacredly cemented by all manner
ot mercantile aud social experiences. 80
successful had been the enterprise that II
we remember rightly, the insurance
ability had, through careful investment OF
the funds, swollen to $4,000 piece. Thus
It was that scores, once rich, who had fallen
before the blasts OF commercial storms
were comparatively beautifully provided
for by the interest on their STOCK Win the
assurance that their families would be le't
in truly comfortable circumstances when
the hand of death should call them hence.
The longer the Dallas Merchants
exchange lives, if properly con-
ducted. the more profitable Will
he found connection with it and the more
beautiful and benefcent will appear It's OPP.
erations to the membership, while to the
business community, and IN the interest OF
the city, oil will admit that it was gIo-
rious day for Dallas when the institution
was organized, and when this insurance
feature was incorporated into it. We throw
out merely these few suggestions; 10 the
onick business mind will readily come
many, many more good points than here
set down.