The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-12-08
THE GOVERNORS STATEMENT.
Formal Reasons Assigned for the Removal of
the Board of Trade Headquarters.

The following communication was unani-
mously adopted by the governing committee of
the indianapolis Board of Trade at its regular
monthly meeting last night.
The committee also decided to hold its first
meeting in the new quarters. No 33 South Merid-
ian street, on Thursday, Dec. 81, 1885,
In order that the membership of the Indian
apolls Board Of Trade may not be misled as to
the influences which have induced their board
OF governors to remove the board from its pres
ent quarters in the Chamber of Commerce Build
ing to the rooms on South Meridian street, and
that the object and advantages of such change
may be fully understood. the board of governors
deem it proper to make the following statement
of facts
First-When this board was organized, under
the name of the Commercial Exchange. one of
It's objects was to harmonic and consolidate the
two commercial organizations then existing in
this city. The under the name Of the Nor
chants Exchange dissolved at once, and its mem
bership entered the new organization. The one
under The name of the Board of Trade continued
in existence for some months, and entered into
negotiations with this board for the surrender of
its franchise and the leasing OF its rooms for
fixed period.
Second-There was great opposition to this
Board Of Trade Occupying quarters in the Cham
Der of Commerce Building under any circum-
Stances on account of its location and the quar-
tiers for the board being on the third floor, but,
after deliberate negotiations, this board agreed
to lease of the old Board of Trade the rooms now
occupied until Dec. 81 1885. It was urged by
some of the governors that one year of this time
of extension was obtained by false representa-
tions as to the time the old lease had to run, but
the lease was made with this board of governors
IN writing, to expire on Dec. 81 1855, and with
the distinct understanding that this board would
vacate these quarters at or before that time.
Third-That on the 9th day OF October, 1885,
by unanimous vote by this board of governors
hA,o A.
Mr.. Martindale being absent 1T was ordered
that the committee on location be instructed to
take immediate steps to secure other quarters
for this Board of Trade, and that the present
quarters should not be considered by
the committee, and that the committee
port at the next meeting of the board.
Fourth-That at the next meeting of the board
of governors, held Nov. 2, 1885, there being
twenty-five governors present (Mr. Martindale
again being absent), the committee on location
reported that the rooms in Condit's stone block
on South Meridian street, could be obtained for
one year for the sum of $500, with the privilege
of the second year at the same rent; that after
obtaining comfortable quarters for the Board of
Trade the rooms which could be sub-leased would
bring $040 per year, thus receiving back $40
more than the board were paying out for rents
There was at the same meeting protest pre-
sented against moving from the present quarters,
which was signed blythe tenants of the Chamber
Of Commerce building and few Others On
motion, this protest was spread upon the min
utes by votes of twenty three yeas and two
nays, and the committee were by like vote, di-
rected to close the lease Of the Condit Block
rooms and fit them up Immediately for the use of
the board
Fifth-That the aim of this board of gov
ernors is, as as the financial condition of
the board will justify it, to purchase ground in
building, in all respects cred1table to the city;
and their object in making this change was to Sc
cure a more central location for the meeting of
the board, and one in all respects equally com
Portable and at the same time save the board
$500 per year rent
Sixth-That while the matter of leasing the
new quarters was pending, and before the lease
of the Condit Block rooms had been signed, a
part of the committee desiring to accommodate
the tenants of the Chamber of Commerce Build
ing, called upon Mr.. Wilson, as president of the
Chamber of Commerce, and asked if the owners
of the building wished the board to remain in it's
present quarters the same terms that it could
procure the new rooms for and received from Mr..
Wilson the reply that the board could not occupy
the Chamber of Commerce Building on any
such terms. There is no division of SEN
timent among the board and the only
dissatisfaction expressed is confined to the par
ties interested, either present or former stock
holders of the Chamber of Commerce, or tenants
of the building The new quarters are, of
course, only temporary, but will be in all re-
old, and will save the Board of Trade the sum of
nent quarters Every man who has made com
plant to the governors, directly or through the
press, was party to the distinct agreement that
this Board of Trade would leave the present
quarters on or before Dec. 81, 1885.