St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-06
PROD ICE EXCHANGE.
The Matter Considered by the Board
Of Trade and Committee
Authorized to Report

A large meeting Of members of the board
of trade was held yesterday morning in re-
spouse to a call made by the president, in
conformity with the wish of several men,
bers. for the purpose of having an informal
talk over the ACCESSIBILITY of extending the
functions of the board TO embrace a produce
exchange. After the board call, President
Hubbard called the members to order and
explained the object of the meeting that of
forming produce exchange as an adjunct
of the board of trade. Mr.. Bohrer, of the
firm of Bohrer & Hulsick, spoke in favor of
the idea, especially in reference to dairy pro-
ducts.
Mr.. McIlrath proposed a committee of
three to make the proper inquiries and con-
suit with those gentlemen who were more
particularly interested in produce call, and
bring the matter up in some tangible shape
at future meeting.
Mr. Gilbert thought that all that was nee
essary was to add some rules to the present
code regulating the produce call. But the
question was whether the board was willing
to admit members to a produce exchange
without becoming full members of the board.
Mr.. Harrison wanted to know if the pro-
duce exchange were to sell from sample.
He thought there could be no success with
out large room where samples could be
shown.
Mr.. Larpenteur wanted to know II after
years of building up of the board of trade at
big expense the produce dealers were now to
come in and reap the benefits without paying
membership fee. He was not opposed to
it but he wanted to know how they would
stand. He would like to know if, providing
he wanted to sell turkey he would have to
shoulder the bird and come up to the board
and meet his customer, instead OF the custo-
mer going down to his establishment
Mr.. Griggs ON being called on said he
came to get information; he knew nothing
of the working of the scheme.
Mr.. Robinson, Of the firm of Presley g. Co.
thought the question was like resuming
specie payment if they intend to resume. If
they wanted produce exchange go ahead.
He thought it was what the city wants; where
grades of poultry, grades of fruit, grades of
butter, just the same as grades of wheat can
be made and prices given. His speech was
practical and sensible one and covered the
whole question.
Mr.. Gilbert followed in the same strain.
Mr.. McIlrath referred to the time before
the board of trade was formed, when differ
ent dealers in grain often varied in their quota
tons five cents per bushel, the same thing now
exists in produce and it was important that
an organization be made to correct this, but
he did not know that it could be done under
the organization of the board of trade.
Mr.. Hoxsie (Hoxsie q Jagger) had studied
the question OF produce exchange for years,
and the only way to make it success was to
have proper grades and to confine the trans
actions to wholesale and commission men,
and did not think it practicable to admit re-
tailers. But he was willing to spend money
10 make it a success.
The president showed how a produce ex-
change would benefit aldealer. A friend of his
has thousand turkeys, the weather is warm
and he does not know what to do except to
put them on wagon and take them round
Tor customer, but if he could take them to
produce exchange he would find dealers
ready to buy.
Mr.. Bohrer did not think it necessary to
have samples on hand. All that was neces-
sary was for the merchants to state on
'change what they had to sell.
Mr.. Robinson followed by another practi-
cal common sense speech.
Mr.. Hoxsie thought the trouble was the
merchants don't sell; they make prices but
don't sell on the board. This seemed TO
strike the keynote and caused a warm dis
cussion, in which Messrs. Larpenteur, GIL
bert, Robertson, McIlrath and others took
part Mr.. Robinson again spoke in ener-
getic terms in support of produce ex-
change, and stated that he expected to see a
produce market here larger than that of Chi
cago.
Mr.. Bohrer advocated call of produce on
the board.
Mr. Melrath modified his motion that the
president enlarge the present committee on
produce to ten members, and that the CON-
mittee be Instructed to report next Friday.
Inc motion was carried and the meeting ad
journed till Friday next.