The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-04-12

those who wlah 10 loin after the I'M u
closed will have either ~ pay " 600 0f puf'
chase ueuhefship NJ some inomIOf VINO
wishes to dispose u his share, and they
must agree upon their own terms, ~ the
txohange will not come IN competil ION lof
less than n 900. II the cotton nul gram
trade increase ~ we can rins0nnhly cNpeot
IL will, then II will not be long before mem
befship will be fully worth @lUUO because
no man will be able to do either cotton or
grain business without joining our Tx
change, and thereby have access W our
rooms. Further, II will be the policy OF the
Exchange, In case of the death OF mem
ber to re. purchase of the heirs his share AT
500 ifthey cannot dispose of II at higher
figure elsewhere, MS the widow or orphan OF
one OF our members shall never be LETT TO
suffer on account OF this investment we
not only appeal to the merchants and prop
erty owners OF this city, but also 10 those
of the surrounding towns. Several towns
are connected by telephone with Dallas,
and If they are members OF our Exchange,
they can at all times ascertain the quolG-
tions by simply asking our secretary. 10
those merchants living in towns not con-
nected by telephone, they can either get
the quotations by wire or request our sec
rotary TO mail them the Quotations every
day; and / can see no reason why the mer-
chants Of the surrounding country are not
as much interested in the exls-
tence of our Exchange rs we are mere,
Standing now, as it were, on the threshold
of an assured permanency and perpetuity,
it would be ungrateiul to omit our thanks
to those who have stood by this Exchange
at time when the question was TO be or
not to be.
While the Dallas press and many mem
bers have kindly stood by this Exchange,
still candor compels me to say, and take
great pleasure in doing so, that the most
conspicuous of all, and the one who has
done more for this Exchange than all the
balance of us put together, is Colonel
riouts, of the Dallas HERALD. Often, when
obstacles seemed TO discourage the most de-
voVeh members, the Dallas HERALD by It's
encouraging words and practical deeds, has
infused new life into our organization. Our
influence abroad would have been unimpor-
tant, but for the commercial columns OF the
HERALD; and at home, nothing has been
offered for the advancement OF Dallas, wnere
the HERALD has not shown the greatest in
terest in it. In this, our new enterprise, OF
building an Exchange, the proprletors ana
employees of the HERALD have taken seven
shares, and for this reason l say with all my
heart thanks aud success to the HERALD,
which means at the same time, success to
the city of Dallas.
Mr.. j. Il. Jenkins moved that the thanks
of the Board be gratefully awarded the
HERALD for its efficient and vigorous action
in the promotion of the grand object OF the
board from its initiation TO its present Gull
mination-success. Carried enthusiast
cally.
On motion of Mr.. Jules Schneider, COM
mttee of seven on building were ap-
pointed.
Colonel Clowney offered the following
resolution. which was unanimously adopted:
Resolved, That as members OF the Mer-
chants Exchange, we assess ourselves the
sum of $500 each, to be paid in such install
ments as the directory may determine, for
the purpose of raising funds sufficient to
erect a building suitable tor the use OF the
Exchange.
Resolved, That the board Of directors are
hereby authorized and instructed to take
steps toward constructing building, as
contemplated in the foregoing resolution.
Resolved, That we recommend that sec
ton of rule 10 be changed so as to read
as follows: 1.-The initiation fee, after the
admission of 200 members, shall be ST 600.
Upon this MIR. d. Goslin arose and raised
the question as to whether members who
had already paid a portion of their initia-
ton fee could be excluded from member
ship, or their stock made valueless by
reason of failure to comply with and pay
Judge White as legal authority on that
subject, and the meeting called on Judge
White for his opinion.
The Judge responded and said that if the
original articles Of agreement among the
stockholders forfeited their stock upon nom
payment of assessments, they would be
compelled to forfeit; but if there was no
such agreement, they had vested right,
and could claim their investment up to its
pf 10 stock
governing. OF course he said, If at sub
sequent meeting the stockholders voted
for resolution iorieiting or impairing
his own stock he was bound by it.
The building was agreed upon. 1t will go
up and on, nor can the HERALD see how the
fine spirit manifested on this interesting
occasion can be either suppressed or
thwarted. The very complimentary refer.
ence by Mr.. Oppenheimer to the efforts of
the HERALD and one of its proprietors in
the premises are acknowledged and appre-
ciated by those to whom they referred.
When the business was over splendid
lunch was discussed and the end and the
rounding up of the Dallas outpouring was
changed into a great metropolitan iDpour-
ing, that made every person present know
that there was big town named Dallas
The Exchange means business, and the
work on the proposed building will begin
at once. Out of 200 shares $50 have already
been taken, and outside of the regular num-
Der of shares twenty shares have been re-
served for merchants of the surrounding
towns, who may desire to subscribe.
The meeting was the most successful
one of any enterprise ever inaugurated in
Dallas, and before tonight all the requi-
site shares will have been taken. This is
unquestionably the greatest boom on such
short notice Dallas has experienced in her
u.hola history