The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-04-10
The Shares Taken Like the Traditional
Hot Cakes.
Graceful Acknowledgment Made of the
Power Of the Press.
Elegant Lunch Spread-NOtes and Com.
mcnts.
A Day to be Recalled Hereafter.


chants Exchange were duly installed il
office yesterday morning, at the Exchange
rooms, corner of Elm and Austin streets
and there were over 200 Of the business
men OF the city present. The object of tn,
Exchange, its rapid growth, and the work i
has accomplished, has heretofore been giver
in these columns, and are familiar to tn,
business public. After the installation o
officers and appropriate addresses by Tia,
officers OF the Exchange, regular bushes.
looking to the erection OF II handsom,
Exchange building was transacted
sECRErARY's ADDRESS.
IL. Z. Stevenson, secretary, raped the
meeting to order, called u roll of th,
oillcors-elect, and then made tho following
address to them.
Gentlemen OF the Incoming Boards
By the rules and regulations of your eX,
change, 1t IL made my duty to inform YOU
that you were chosen, NJ the annual cleo,
uon on the lth inst, It's officers for the en-.
suing year. In performing this duty, it is
a pleasure to me TO tell you that, with the
exception OF voting against yourselves, YOU
were unanimously selected for Your various
Offices. From this moment, and tor one
year, into your hands the government of
the Exchange will be committed. That YOU
Will administer II with wisdom your fel low
members entertain no doubt You have
been selected for this purpose for the reason
there IS not one among you not distin.
glished, IN the daily walks OF commercial
lie, as gentleman of perfect honor and
strict Integrity. Were it not so, you would
not be standing in this presence
to-uay, selected to assume con.
'E0l OF this Exchange in accordance
WIN the constitution, which called it into
being. That you will find questions to SET
tie as delicate az the spiders web, and
troubles TO meet as tough az
the gnared oak, you may fully expect,
That you will unlock the former with the
Key OF justice and surmount the latter with
the nerve Of men Is expected OF you. We
nave already inaugurated great enterprise
II exchange building of which your presi-
dent VIII speak more at length presently.
III which you are expected to take the lead
and especial care. II you, one year hence,
can point to that building completed it will
forever stand as u monument to your mem.
DRY and your administration.
In conclusion, you will pardon me for al.
luding briefly TO the expiring board of di-
reclors-the founders and fathers of the
Merchants Exchange. No nursing mother
ever aood by or watched over
infant more faithfully. And il
must be a proud satisfaction
to them to-day to see health upon ITS
cheeks, vigor in its limbs, honor in its
hearl ana excelsior inscribed upon its ban
ner.
NO oath ls required of you. Among the
many institutions of our country this stands
atone as Que which never seeks the oaths,
Judges, Jurors. lawyers and paraphernaia
VI courts 10 seltle mems rights, IL settles
us disputes before that higher and grander
ana hobler tribural-the bar Of honor.
Nebtiemen, now salute YOU as the duly
elected and Installed officers of the Mer-
chants Exchange.
PRESIDENTS ADDRESS.
President Oppenheimer, who was re-.
elected to that Office, then addressed the
Board rs follows:
GENrLEMEN-l thank the members of this
Exchange for the honor conferred upon me-,
ana assure them that | shall at all times
Try TO advance the interests of this associa-
t,on TO tho best of my ability. Although
the Merchants' Exchange has been in ex.
lstence nut one year, still its actions thus
lar have gained the favor OF the business
men Oh the city in such degree that we
leel assured that they will give us their
hearty cooperation in all of our Legitimate
undertakings. The main and principal
functions OF our Exchange is to furnish It's
members accurate and quick information of
tne condition OF the markets of the world
Beginning with but handful OF members,
our means to supply this information were
limited, and as our membership grew In
numbers, We were called upon, or rather we
were forced TO provide such accommoda.
tlois 10 winch their numbers and iHterests
Justly entitled them. To provide these
accommodations is a severe task, financial
", and can be met only in two WAYS
FIRST, by assessing monthly dues TO meet
our current expenses; or second by erect.
ing an exchange buildsg. The first plan
IN practically cut OF question, because The
dues would be so burdensome that but few
members would care TO pay them, and
soon our Exchange would be a thing of the
'asl and even ifpaid, at the end of two wears
we wonld have nothing. The second pIan il
the only feasible one that.the Exchange can
adopt, and which | will try and explain
TO you as briefly as possible. We intend IN
issue not less than 200 nor more than ga
shares OF stock at 500 each, payable as fol.
lows: Twenty-Five dollars as soon ma Ali IN,
shares are subscribed, and S25 every
sixty days thereafter, thus making the
payment complete within fourteen months
Ihese membership certificates are transfer.
able. As soon AS all the shares are taken
the list is to be closed and no additional
members are to be accepted for less than
Si,WV per certificate or share
When these shares are all subscribed
inc building committee could at once select
lots, get plans from architects and make
oIhcr necessary preparations, should not
oe surprised to see oil these shares taken
To-day, but should be very much disap
pointed II they were not all taken mi,
week, AS | consider the ENTERPRISE of very
great Importance Tor the city of Dallas. and
one whose beneficial influence will be fell
rom the time the first cornerstone is laid
Supposing our anticipations to be realized
me hrst payment could be called Apri
2othi second payment would fall due June
10Th; third, August 25th; fourth
october 10Th; fifth, December 25th; sixth
feoruary 10Th, 1881 seventh, April 25th
lSSl; eighth and last payment, June Goth
1881. Every payment brings 5000. II
will take nearly 90 days to get the lot and
plans ready, and by that time we could
have $4,000 In our treasury. The building
OF the exchange will probably require from
six to eight months, thus bringing tho com
pietion OF the building TO either January OF
February, by which time six installment,
will have been paid and the the two re-
naming, considering those made, are as yoot
MS cash; at least they are very we'll secured
As soon as the building is completed, W,
shall no doubt DO able to derive sufficicn,
revenue to pay our current expenses, and
hope to have u surplus to pay interest on
the shares. II would not do to erect a
smaller or less expensive building, because
the income would not DO sufficient, and be-
sides we desire, like all cities of this country
aud Europe, that the handsomcst building
ola city should DO the Merchants Tx.
change. We wish to erect building
which will do honor TO the enterprise OF the
merchants OF Dallas, showing that we are
bound and determined to make thus city
the metropolis OF north Texas. This In.
yestment OF 500 you will find q good one,
because the value of memberships are
bound TO increase tor two reasons First,
u building that Is worth In the Dallas oi
to-day $4,000 TO 10000, will be worth
$4,000 In the Dallas Of five years hence. 50
you SEQ the Increase alone In the value OF
the real estate owned by the Merchants'
Exchange Is sufficient guarantee for tho
sutptv OF vOur invostmpnt Secopd M mo