The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-06-12
A GRATIFYING SHOWING.
Reports of Officers at the Board of Trades
Annual Meeting Last Evening.
A Decided Improvement in the Affairs of the
Board-The Address of President HOl-
liday Reviewing the Last Year.

and finance committee.
Mr. John H. Holiday, the president in his
address l., the members, stated that there had
been an Improvement during the last
year in the afairs Of the board.
You will remember" "a said' tnat the
year 1884 was a disastrous one 10 our ooo!'
just after the renewal of memberships, anu 10
fore the large amount of money realized there
from could be invested, came the failure OF our
treasurer. Mr.. Albert E. Fletcher. He had de-
posted in Fletcher & Sharpes Bank 81, $40. Sc be-
longing to the membership fund and $685. be-
longing to the mortuarv fund. The loss of this
money crippled the board. The grain trade Tor
the year being light one, our receipts for
inspection were reduced. and to provide for the
expense il was necessary to go into debt.
Thus the bank failure not only prevented US
from making any addition to our surplus fund,
hut actually reduced it by the amount expended
above the receipts-$3, 000-and the loss of $500
to the mortuary fund. Added to this the times
became more stringent and we lost heavily In
membership in consequence. On the organiza-
ton of your governing committee, after the last
election. it was Immediately determined to be-
gin policy OF economy and reform and that
having been carried out very fully, your officers
are now prepared to show a much better condi-
tion of affars than existed at your last meeting
blr. Holiday stated that there had, during the
year, been paid for salaries of the secretary and
assistant, $l875, against So, 700 the year before;
for the grain inspector and assistants. ST 500 TO-
against So, 700 the year before; for clerk, $500.
against $420; ianitor, $l35, against $3.50. In the
items of incidental expenses. such as printing,
postage, fuel gas, telephone, legal service. court
costs, cost of inspection, etc, which amount to
$3.50 43, the finance committee exercised the
greatest care and expended nothing where it was
not Or
willis lessened by the withdrawal of many
members, had the benefit of increased inspec-
ton receipts These amounted to $4, 143. 30.
against So. 692 II the year previous. The COM
mittee paid to the mortuary fund the $3.50 lost III
bank, and the loan of So, 093 o. made to cover
the deficit for expenses, and carried 81, 900 to
surplus fund making $21, 900 of such funds now
invested on first mortgage security and yielding
good interest Besides which there are ST., 127
cash on hand, exclusive Of renewal fees for next
year. Financially, therefore, the board gained
largely during the year, and unless there should
be large reduction of receipts during the COM
ing year the surplus fund a year hence is likely
to approximate $780, 00O
numbered SAL. Twelve new ones were received,
five died and thirteen dropped, making the to-
tai membership now 535. "In order to make
memberships more desirable. or at least to give
value to those composing the board, venture
to suggest" Mr.. Holiday said, "the propriety Of
your considering whether the time has
not come to reduce the limit of
membership. On our present basis We
can receive LOCO members, and the
experience so far shows that it is impossible to
maintain a board of such number in city like
this. BY decreasing the number to six hundred
or less would not memberships be more in de-
mand9 If the board is once full. with applicants
knocking at the door, value is at once put upon
the seats, and those wishing to withdraw can
realize upon the investment they have made,
which is represented partly by the certificate Of
shares in the surplus fund which were issued
during the year, conformatory to the amendment
adopted at the last election. This Is subject
which certainly is worth considering, and if the
board does not feel prepared to act tonight, can
safely be left for the examination of your in
coming board of governors"
The president also suggested that the fiscal
year shall begin on June ], in order that an ex-
act financial report may be made at the animal
meetings. The rate OF mortality during the year
was less than per cent, and the board. for the
first time since its organization, begins the new
year without any death assessments pending.
The amount paid in mortuary benefits during
the year was 81, $50 and there is now ST., 730 80
on hand undistribu.ed. The expense of fitting up
the quarters now occupied by the board was
1914 The beneficient work of the relief COM
mittee was called for twice-from tornado SUI
ferers in Minnesota and at Attica. Supplies to the
value of $500 were sent to the latter place The
room not used by the board has been leased for
$3.50 year. This removal" Mr.. Holiday said,
lit was hoped would tend to increase the daily
attendance. but so far, am sorry to say 1t has
not had that effect. In considering the question
of removal, your board of governors looked care
fully over the field with a view to securing a
permanent home of our own, but after thorough
investigation it was deemed unwise to take any
steps in that direction until we mad accumulated
a much larger fund"
In conclusion, the president called attention to
the faithfulness and zeal Of the governing COM
mittee.
John G. Blake, the secretary, made detailed
report of the operations of the board and it's re-
ceipts and expenditures, showing that the re-
ceipts were as follows: Balance on hand, last
report 1868 IL; annual dues, S. 295; in
spection fees, $4l4335; interest, 81, l65 II;
dividend from Fletcher & Sharp's Bank.
$4ll.29; rents, 1868; total, $14, $50 go.
The disbursements were: Salary account.
81, GA. 49, markets, $780, rent, 81, 1919 90; relief
fund ioan paid) So, O93. 56 mortuary fund Qoss
in Fletcher & Sharpe's Bank. $3.50; surplus
fund, 81 900: miscellaneous, ST. 255 II; balance on
hand 81, 100 49; total, $l4, 1902. This state
ment of expenditures covers thirteen months
The receipts of the mortuary fund were So, $50. 90
including a balance on hand of ST., LOG. SO
Against these were drawn warrants in favor
of heirs of deceased members. amounting to
81, $50, leaving balance on hand of 81, 730 so.
rSyr..r S. Bvram. chairman of the finance
committed reported that the accounts of the
secretary had been examined and were correct
Inc committee reported tnat the assets OF the
Board are as follows: Note Of E. B. Martindale,
10000; note of J. w. Murphy, $4,000; note Of
j. T. Lecklider, SIS, 900; cash hand, 1891 90;
total $24, COL go In addition, there is due fcom
A. E. Fletcher. ex treasurer of the board. the
sum of 81, 403. 80 The notes named are ali Sc
cured by first mortgage on indianapolis real es-
tate The committee said that the expenditures
for the next year would necessarily
be from $4,000 to $4,000 less than last
year as there are no debts to meet as there
were last year and various extraordinary ex-
penses caused by the change of location will be
saved.
On motion of j. A. Wildman il was resolved,
as the sense of the meeting, that the present
limit of membership ,000-be reduced to not
exceeding 600, and that the board Of governors
be requested to report an amendment to the ar
ticles of association to that effect.
President Holidays suggestion that the fiscal
year of the board be made to end May 81 instead
of June 80 also referred to the governors
for action.