The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1889-05-16
NEW BUILDING.
The Board of Trade Votes the
Right to Issue Bonds.
Interesting Inqulry-What Are
Boards OF Trade Created for?

The adjourned meeting of the board of
trade was called to order by President
Saunders yesterday afternoon at o'clock.
1t was found there were represented l53
shares of stock. A ballot was at once
taken upon the report of the specialcom-
mittee appointed Tuesday afternoon to
report some form of resolution giving the
board of directors of the Board of Trade
association the authority to issue bonds
to the amount of $4,000 to
erect board of trade building. The
committees report allowed the issuance of
$4,000 in bonds of such denomination as
might be found desirable, and not to run
for more than twenty years at not more
than per cent Upon the call of the roll
there we're 143 shares voting aye upon the
adoption of the report and 10 voting no.
Those voting in the negative we're: Mr..
| FirebRugh, two shares; Mr.. Tips, five
and, also, Mr.. Tips voted two shares for
Mr.. r. l.. Brown and one for Mr.. Morley
in the negative. 1t required 1873 atfirma-
tive votes, and, as l43 were cast, it is now
settled Austin will have handsome board
of trade building.
At the close of this business the secre
tary, Mr.. Warner, read the following letter
addressed to The STATESMAN, but which
had been referred to the board of trade
as properly belonging to that association,
and, because, as stated in the communlca-
ton, we did not care unnecessarily to pub
lish any more widely than already known,
Austin's slow and poky way of doing bust
ness
Editor STATEsMAN-Will the business
men of Austin say "You had better attend
to your own business" if again call their
| attention to Austin's interest? l feel
both sorry and ashamed of the lack of
business enterprise exhibited by her citi-
zens. The wool crop will soon be ready
for market. Austin is justly entitled to
the greater portion of it from this
| (Blanco) and adjoining counties and can
get it, but not without an effort. Saliva
ton is never obtained, only By those who
accept. Austin ought to handle 100000
pounds of wool even this season, after
having lost all her wool trade. This would
leave near 100000 in Austin from this
source alone. While this may seem small,
remember this is only one item and
only a commencement in that item. After
the tide is turned it is easy enough to
increase it and keep the stream going.
This you are going to lose unless you
change your tactics. Mark what I say, and
not only this, but you will lose the fall
cotton crop. You think you got only
small portion of it last year,
and sure enough you did; but you are 60
ing to get less this year, and the fault is
not in the people of this county, but in
Austin. The people have labored under
untold disadvantages to patronize Austin;
have contended with almost impossible
roads; have sold their produce for less
than was paid in other markets; have
paid more for goods than they ought;
these and other things have been borne
until "forbearance has ceased to be vir
tue" and they are not going to bear it any
longer. 1t is humiliating for such reports
as this to go out into the world, and it will
cause many a smile of satisfaction in
neighboring cities; but Austin has brought
it on herself and really deserves the fruits
of negligence she is now reaping. The
question now is, "What are you going to
do about it? If anything; when?" The
consideration of the question now belongs
to the board of trade. If the matter is
taken up and l can render any assistance
in any way would gladly do 80, for 1
want to save the trade of this country to
Austin. But if the business men of Aus
| tin are Satisfied to sit idle and longer de-
pend on "natural advantages" it can't be
prevented. j. L. MARTIN.
johnson City, Blanoo county, Tex, May
6, 1889.
Promptly upon the conclusion of the
| reading Mr.. Castleman moved the COM
munication be tabled. He declared he re-
garded it an insult to the business men
Of Austin, and piece of presumption on
the part of the writer. He was sick and
| tired of these complaints, these structures
on our business men that were constantly
coming in. The motion to table was very
properly defeated by rising vote. The
letter was to some extent discussed, some
alleged wit INDUCED in and the matter
dropped with no action whatever taken.
Possibly this may seem remarkable to
those who have to this time INDUCED in the
popular belief that boards of trade were
organized to take hold of just such mat
ters as treated of in the communication.
It has not been held that the end and aim
of such institutions was simply to dignity
with their presence elegantly furnished
rooms in some imposing structure in
scriDed with the name "Board of Trade
Building" We hesitate to believe our
new association contem plates such luxu-
! rious future.
Nothing was done at the meeting yes
terday, except, as has been mentioned, the
voting of the right to issue bonds for
building and the commission to act in the
Blanco appeal.