The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-09-04
BOARD OF TRADE GOSSIP.
Talks with Business Men on Various Matters
Relating to Trade and Enterprise.

The National Board of Trade, which holds
its twenty first annual meeting next
month. has instructed its secretary to OBJ
tain from the local board recommendations
upon important subjects of national con-
Germ. The following members of the board
have been selected as q committee to act in
the matter: Messrs. Tanner, as chairman;
$. L. Bowen. Franklin Landers. w. d.
Wiles and E. b. Martindale.
Wheat is very dull" remarked the
grain-dealer, Mr.. Cooper. 1.-THE market is
well filled up, but times are dull" This is
explained by the injurious workings of the
interstate-commerce bill The dealers now
ship direct rather than bring grain in here
to market and then forward, Take. for
instance, farmer at lakewood. He will
now ship direct to the seaeoard, Ow-
ing to the rates established by the
bill, whereas. formerly, he would ship to
this city. place the grain in an elevator. and
then 1T would he shipped from here to the
seaboard. The actual money made In
the grain business. locally, was in
this business of forwarding Before the
bill came into operation, the dealers claim,
a man could secure q better railroad rate,
according, to the number of cars he was
going to ship; now the man with one car
can obtain just as favorable a rate as the
man with a thousand. Another thing
which is unfavorable to the grain business
of the city, 1T Is asserted. is the difficulty of
obtaining sufficient capital; and then again.
the banks charge such large percentage
on the money loaned. A Chicago man can
obtain as much money as he needs, upon
grain as q collateral, at per cent, while
the local banks demand Z and even per
cent.
Referring to the matter of boring a well
10 +ho of koIx1 -
of $1,000. to endeavor TO ascertain whether
Indianapolis really stands upon gas field,
Secretary Gillette, of the Board of Trade,
remarked yesterday, that the scheme as
formulated by Judge Martindale, at the
last meeting. would be carried into effect.
"Of course" said he. I'VE have done good
down about one Thousand feet in depth,
but without finding gusher. We found
mineral water at certain Places as we'll as
oil. Experiments have lately been made at
to depth of three thousand feet, when gas
was struck in large quantities. 1t was
probably this fact which caused Judge
MartindaleS suggestion to the board. The
scheme Is for the members of the board to
club together and make up sum sufficient
to bore a well to great depth and continue
down until they find something. They
may 60 to depth of three or even four
thousand feet for gas, as in the above in
stance it has been found at that depth where
it has not been found at n thousand feet.
If they should succeed in this it will be a
great thing for Indianapolis, and if not,
they will probably find something else.
Some time ago John Gavin, while boring
for gas short distance east of the city,
found oil in sufficient quantity to pay, but
as he was after nothing but gas the well
was abandoned" At no great depth under
the city lies what may be described as a
lake of the purest water, and Judge Martin
dale stated before the board that if moth
ing else resulted from these experiments.
they could give the city a supply of
pure water. OF course the water-works
authorities might prefer obtaining their
water from this source. IF not" said a
member of the board, 1--WE would have to
figE: the corporation"
Referring to the contemplated improve
ment to be made in the Board
of Trade building President Tan
ner says that the main thing
to be done is to get a better place for meet
ing. The present hall is poorly arranged,
and its acoustic properties are very bad.
I'm fact, "said he, 1T is almost worthless
as a place wherein to hold public meeting.
When we make the needed improvement
our meetings will be better attended"
A plan has been formulated and will be
shortly adopted by the board. which will
greatly tend to encourage merchants to
come to the city and meet the members of
the board. "The details are such," said
President Tanner, that we don't
wish to publish them because
of the fact that other surrounding cities
would offer similar inducements to counter
act ours" The plan was, however, ex-
planned to the Journal reporter, and its
workings seem entirely feasible and will
prove an undOubted success, especially in
bringing together larger number OF local
merchants to the meetings OF the board.
Frank Branch, of MartinsvilIe, is deter
mined that it shall not be necessary for a
member of the board to have to leave the
building to obtain the wherewithal to
quench his thirst. He has placed on tap al
all hours for the convenience of the mem.
beers a supply of the Martinsville mineral
water. This water is so well known that
it is not necessary for q man to have his
life insured before drinking it, for just like
all other mineral waters. it is the best in
the world.