The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-05-10
MnnonANs rxonANOh
location Of site, Commerce and inm
Utsat Fnthaainstn and unRninity,

ioeatinn Of site, Commerce and Lam
0tsat rnthusinsm aud unHnimiiy
Nearly every member was present et the
important meeting oi last evening TO locate
the building ofthe Merchants exchange
on assembling and calling the meeting
| 10 order, President Oppenhelmcr asked n
withdrawal of all IN the hall save those Of
he membership. The calling OF the roll
was dispensed with and tho proceedings oil
the last meeting read ana approved.
Mr.. G. #. Carter stated that the bylaws
required the transieree OF certificate Oi
membership to have had II In bis posses.
sion ten days with the same length OF
time for posting before he could vote, when
! IL was moved and carried that this cOndi'
ton be dispensed with.
1t was also moved that resolution re-
curing ten dollars for Il transfer should be
voted on. After considerable discussion,
in which Messrs. Adams, Caller, Carter
and Hill participated, with an affirmative
endorsement by President Openheimer, the
resolution was passed. Captain Adams
| opposed it on the ground that 1t
would hamper and might depre-
ciate the stock, whilst the others commended
that there was no stock, but the subject OF
barter was membership. 1t was also stated
| that the procedure would be in accordance
| u
Next in order was the report OF tie build
ing committee, which was looked for with
| breathless interest. They reported what
virtually amounted to bat three bids or
offers. One of j. T. Elliott of his property
at the corner of Lamar and Commerce,
100 by IS feet, for the sum OF $1,000.
| Another bid was put in by Mitchell and
Scruggs for Hugh Blnkeny, known as
Fine, Very Fine" and Richard Morgan, jr.
| To this was attached subscription list pur
| porting to be of the amount OF $l2,O6O with
several hundred dollars conditionally sub
scribed. The property was estimate by
its owners at $l3 600, and taking the sub
scription list at it's face value ana the valu-
alton OF its owners, would have gone to the
| Exchange at about $3.50. This property
was located on the north side of Elm street
running north towards Pacific avenue, and
| its dimensions were 70 by 100 feet.
Kahn & Campbell offered their lot on
the corner of Elm and Murphy streets for
500, 800 with subscription list OF $lO,6l5;
about 81 200 OF which was conditional: The
dimensions of this property were To feet on
Elm by 100 on Murphy, and its, face
valuation of owners and subscription, list
would have cost the exchange on purchase
$11, sos.
Elliott. who offered to deed 70
feet on Commerce street, by no
on Lamar, for the sum OF $1,000. Attached
to this offer was subscription OF $7,OOO,
sill ned by Sanger Brothers, R, V. Tomn-
kins, w. E. Hughes, Exchange bank, G; Q,
Slaughter, Pat Wilkinson, Il, M. Kahn,
Schneider & Davis, ]. E. Henderson, Frank
Cockrel, ]. w. Taylor, Bowser & Lemon,
w. G. Conner, and perhaps
one or two others. R. V. Tompkins
and Sanger Brothers were the gnarantors;
This bid produced great enthusiasm, and
when it was :announc d as the proposition
recommended by the committee, the welkin
rangwith applause.
Captain j. l.. Leonard moved the adopt
ion of the report, but was opposed by Mr..
G. G. Wright, on the ground that the re-
port gave the members no opportunity OF
voting on but one bid.
Captain Trezevant spoke on the resolu- |
ton, urging the consolidation of the town. |
and argued that the property offered and
known as the old Methodist church lots,
was the proper place for the location OF the |
exchange building. i
Colonel scruggs replied and urged
the proposition, that the property
recommended by the committee, was
that the exchange in accepting it as an
offer would only make that amount, where
as, if either of the Elm street bids were
accepted it would make for the association
the exact amount OF the subscription
list in each case, which was much
more than 81 500.
Captain Adams, in reply, said that the
ad ,anced rates of property on Elm street
were due to speculations OF men who would
buy and BALD but not contribute, and re-
quired the business men to advance their
interests by making improve
ments, of which they received the
benefits. He said such was not
the policy of the committee, or the mem
bers of it, and referred in terms OF COM
mendation to Mr.. Marsalis, whose name
was on every subscription list.
After Captain Adams concluded there !
was a discussion as to the mode OF voting. |
1t was finally determined to take the vote |
by ayes and nays. 1t was manifest that
the motion of Captain Leonard to adopt
the report would prevail, which it did, as
the count showed 1873 ayes to % nays:
On motion of Colonel Q. S. Mitchell, the
vote was then made unanimous.
When the enthusiasm OF the member per-
mitted, Captain Adams moved that com
mittee of four be appointed to see to the
of 400 acres of land Tor the
branch insane asylum. The chair APP
pointed Messrs. c. s. Mitchell, W. b. Gano
w. G. Veal and Walter Carruth, and the
meeting adjourned.