The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-05-08
THE BOARD OF TRADE.
The Committee New Location Recon-
mend the Condit Block.

Alta meeting of the board of governors of the
Board of Trade, last night, the committee APP
pointed to select a new location made the follow
ing report:
To the Board of Governors.
Gentlemen-Your committee would respect
IN accordance with your instructions and that
they have carefully considered number of pro-
posais, and would recommend the purchase of
tne oullulng and grounds known as Condit 3
stone front building, ON South Meridian street,
between Washington and Maryland streets, for
the sum OF $4,000; also tho purchase OF the
adJolnlng ground on the north on Pearl street,
30 rect by 90 feet, at $l5 ,000 the above proper
w TO De bought upon such time may be agreed
upon, and In accordance with the surplus In
come OF the board. They also recommend the
reconstruction of the COndlt building INTO u
hrst-class office building, and the erection upon
the lot adjoining of onestory hall for the occu-
pancy of the Board of Trade, the said hall, how
ever not to be built until such time the
board desires TO remove from present quarters
-FOUR committee have had the plans drawn
showing changes which may be made in the
building to make IL suit the purposes proposed,
wnlen they submit herewith, This will give for
1.-TWO convenfehtly-arranged and eommodious
s,al en- suite, W hioh may be rented sipgy or
en- suite; each Office is well lighted and ventilat
ca, aud vary in size from 20 by 80 feet to IL by
10, and renting. we think readily, at 81 to $50
per month for each suite of two rooms or from
9lo 10 $50 per single room-whch would bring
revenue, on basis OF present rents in this city,
OF over $4,000 per annum for offices. The pro-
posed Improvement cOntemplates two skylighte
VI air snaItB reaching TO the HrSt nOor; also, an
elevator. The main entrance to the
hall is through the store room of
the Condit building. This entrance
to be fitted up with small offtcerooms tse parated
by railingsl, well lighted, and to rent at $40 TO
$l2.5o per month each, thus accommodating a
large number OF persons who desire public and
prominent office or deskroom ground floor at
u low rent, and whose business does not require
the seclusiOn of private office.
Inc plans propose all cOnVenienees aud heated
throughout by steam. The architects estimate
OF the cost Of these Improvements is from
$4,000 to $4,000 The outside for the most
elaborate finish.
Your committee would also recommend when
the hall is built that a restaurant be built adj
Joining to accommodate our business men takln q
dinner when they go on Change. We think the
revenue from rent of such a restaurant will
prove profitable to the board and of great con-
venie nee to its members.
p Lynch. chairman, j. W. Hess,
J, s. Gordon, L. B. Martindale,
John Caven, J. A. Closer,
George E. TOwnley, A. NJ. Fletcher.
In pursuance of this report, the following reso-
luton was unanimously adopted:
Resolved, That it is the sense Of this board of
governors that the present location of the Board
oI Trade is not central or desirable to majority
OF onr members, and that when we have occu-
pied 1t for the term OF contract, thus fulfill
ing all our legal and moral obligations in good
Ialth, that we should move, and that it is the
uuty ana obligation imposed upon us to take
the proper steps as soon as is prudent to secure
suitable location, and that the question of pur-
chasing place be referred back to the commit
eral vote of the membership at the annual cleo
ting"