Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1889-12-24
CITY BOARD OF TRADE.
Various Matters Considered-The River
Convention and New Postoffice.

SOhfcbAlOh NEW OStOHlCcs
The Board of Trade met yesterday, Pres
ident p Z Plat presiding. The committee
appointed at the annual meeting TO con
slider and report upon the scheme Of erect.
ing Board of Trade building, submitted
the following report:
To tie Members Of The Sacramento Board Of Trade.
We the committee heretofore appointed by
your honorable body, submit the following as
orr report:
We ind from an examination that the pres
ent system under which the Board is run is OBJ
jeciionable in several respec s, end in our judg-
ment steps should be taken at once 10 remedy
the same by increasing its usefulness and pro
noting its station, as well Us the interest of the
, city at large.
iyery citizen who has the interest of the city
at heart and who is working for its promotion
should belong to this organization aud should
work for its in crest Sd that by joint action we
could undertake and accomplish ends which 10
us as individuals seem unadyisable to under
take in our judgment, therefore, under the
present system persons not interes' ed directly
in commercial affairs have RETAINED from Join
ing the Board, labOring as they have under the
impression that it is a mere adjusting and col
leeting organization.
These Objectionable features can and should be
remedied, and in SO doing place before the public
an organization that will invite the cooperation
and aid OF the capitalist, banker, professional
mae, farmer retail dealers as well as wholesale
merchants, and we deem thst this would not
oa-y add TO the promotion and progression OF
, the C ~ but of the surrounding country.
1t is the judgment oil this committee that the
Beard should have its own building; this would
not only be good financial investment to the
persons who purchase the stock to erect the
same, but if a fine, large building in a central
locality can be accomplished it will add to the
wealth and beauty OF the city, as well as show
that there yet remains spark OF progress in our
midst.
Wa recommend that tba Board inoorrorofa
with capital stock fixed at 100000. divided
into 1000 shares having par value of sl00 per
share, payable at the rate of s. per month per
share until paid, except that the first payment
shOu be 81. in order that working fund may
be Immediately created
ALI members of the Board of Trade under the
Incorporation shall be stockholders; the mini
mum amount of stock which any member shall
maXium limit shall be placed thereon: there
shall be monthly duesofS per month as at pres
ent, for the purpose of mestingthe expenses OF
the Boa d, so that all moneys paid upon sto
will be used for building and improvement.
There should be created what would be known
as the / aw and Claim Bureau of the Board,
which should be separate department of the
Board, so that members of the Board of Trade
need not belong to this department unless they
so desired
This department should have full control
over the cl7ims and collections of its members
and should act in such matters independent of
the general Board.
Any stockholder may become a member of
this department and participate III the benefits
thereof by payir g the SUM of 81 per month eX-
ira, which sum shall be applied to the main
tenance of the same.
This department should be governed by a
Board of directors chosen from members OF that
department..
The object ofthe corporation shall be to pur
chase, sell or lease real estate build. furnish or
rent buildings, and the performance of such
other business as may be deemed expedient
and necessary.
There should be Directors of the corpor stion
who should organize by electing a President.
from their number a Secretary and Attorney,
Treasurer and Auditor.
The Secretary and Attorney of the Board of
Trade should be the Secretary and Attorney of
the Law and Claim Bureau, and attend to the
business of both departments
We would recommend that the present Direct
ors and officers of the Board of Trade be the Di-
rectors aud officers of the corporation for the
first year, and that after due consideration of
this report if in the judgment of the Board the
same should be accepted and action taken there
under, the Directors of this Board be directed
to proceed and incorporate in accordance with
the plans set forth.
Respectfully submitted.
EDWIN X. ALsGP,
A ANDREW, c:.,
Dr. a7r