The Indianapolis journal., 1885-12-03
A QUESTION OF EXPEDIENCY.
Members Of the Board of Trade Disagree
Over the Proposed Removal.
The Change To Be Made at 0nce-Differences
Between the Board and Mr.. Wilson
The Old Boards Lease.

The Board of Trade headquarters will be re-
moved within ten days from the building now
occupied at the intersection of Kentucky avenue
and Tennessee and Maryland Streets to the Con
dit Block, on South Meridian street, which has
been leased for period of one year. A number
Of the active members of the board have strong
ly opposed the removal, and there is, in conse-
quence, some bad feeling in regard to the mat
ter. Fred T. Rush, the grain dealer who has
been one of the most active opponents to the
change of location in stating his objections, said
to a Journal reporter yesterday 'If any one
can show me any good reason why the change
should be made or where there is any advant-
age to be gained by it, will withdraw my OBJ
jectionA l am opposed to the removal because
the new building has none of the advantages
and conveniences that we have here. We might
as we'll move into cellar because
there is no light and no room, such
as we have here. The only advantage
that is claimed for it, is that the location is more
convenient to the business men on South Meri
dian street. If you should call at every busi
ness house on South Meridian street with car
rage and eight Arabian horses, you couldn't get
twenty merchants to attend the noon meeting of
the board ten days in succession. The only way
that they can be induced to attend, is 20 give
them free lunch. Every nducernent for draw
ing them out has been tried. Four years ago,
when new board was organized, and was estab
lished in the old Sentinel building, on Meridian
street-a location ten times better than the
Condlt blOck-there was a good attendance of
merchants for just about three weeks and in
years time the thing died out entirely. The
whole trouble regarding the location of the head
quarters arises from a spiteful feeling toward
Henry Wilson, who owns SO per cent. OF the
stock in the present building, and who has, by
indiscreet conduct, offended number of the
members of the board, who are trying to get re
venge by moving the headquarters from his
building. If any one can find better location,
| where we will have all the advantages that we
have here, will consent to moving / wanted
the board to buy the Franklin Insurance build
ing, which would be good investment, because
| the property will always hold its value We had
$40, 900 that could apply to the purchase of it,
and we could have rented Offices enough to have
more than paid the interest on the Indebtedness.
Then could have something to show for our
money. AS it is, the members pay fee of $25,
and $15 or 500 in mortuary assessments and they
have nothing to show for their money"
"Will the members who are opposed to the
removal withdraw from the boardW
"Oh, no, we will attend the meetings, but all
who have offices in the building will probably
main here. The change, however, is mistake,
because all except two or three Of the active
members of the board are opposed to it."
Judge Martindale, one of the members Of the
board, who has favored the removal, told re-
porter that when the board was organized the
promise was made to the members that there
would be a change in the location of the head
quarters to some more convenient place. A
committee was appointed to look for more suit
able quarters and it had recommended the lease
OF the Condit Block. There was full meeting
of the board of governors when the matter came
up for consideration and only three governors
voted against the proposition to lease the Condt
Block, which has the advantage Of being located
more convenient to the business center than the
building now occupied A large room is not
needed, he said, for the board meetings In
Chicago it has been found that there is need
of hall, and the meetings there
held in room. One consideration in the
removal Of the headquarters is that in the new
building the board will derive revenue
enough from the rent of offices to
cover the entire lease, and will thereby save sew
eral hundred dollars a year. The governors
had offered to remain in the present building,
Judge Martindale said, if it could get it on the
same terms that could be secured in making a
change, but the reply received from Mr.. Wilson
was that the board could not come into his build
ing a pauper, and he insisted on having $500
year. Mr.. Wilson had before this, however. been
offensive and annoying to the board, and it was
determined at once to leave the building. The
lease on the Condit block is only for one year,
with the privilege of two years. The arrange
ment is only temporary. as it is the intention of
the board to erect building whenever it can
cure suitable location and has sufficient funds
There is now $780, 900 in the treasury available
for this purpose.
When the organization of the old Board of
Trade was terminated by the consolidation with
the Exchange the former had balance of 81, 700
in the treasury. The old board had lease on
the building now occupied for period of twenty
years, and. as it is now to be vacated, the own
ers claim the 81. 700, which is still in the hands
of Mr.. D. A. Richardson. the treasurer for the
old board, on account of violation of contract,
and will take legal measures to enforce its col
lection.
There is great deal of feeling over the pro-
posed change in the location, the members be-
ing badly divided to preferences. The new
lease has been signed however, and all objection
had as we'll be buried, for the removal will GER
tainly be made within the next ten days or two
weeks.
1ax