Evening capital journal. (Salem, Or.) 1888-1893, 1889-10-25
ORGANIZATION COMPLETED.
The State Exchange Assumes Definite
Shape and Elects 0flicers-Imp r
tant Factor in Development.


ganizing the State Exchange, the
objects of which were outlined in
these columns few days ago.
There were present b. S. Cook, H.
j. Minthorn aud G. b. Moores, rep
resenting the Oregon Land Co.; w.
f. Peck and II. G. johnson. repre-
senting the State Land and Trust
Co.; VIM. Howard Phelps and II.
V. Matthews, representing the Sa-
lem Land Co.; f f. Austin and H.
M. Brauson, representing the Salem
Abstract and Land Co.; Thomas &
Payne, Moores Il Gillespie, Isaac A.
Manning, r. p. Boise, Jr., e. H.
Bellinger, August Giesy, J. G.. Booth.
Permanent organization was eff
fected by the election of DR.. H. j.
Minthorn, president; Isaac A. Man
ming, secretary; E. III. Bellinger, j.
M. Payne, w. f. Peck, J. g. Booth
and VIM. Howard Phelps, board of
directors.
The meeting throughout was
characterized by an air of business
enterprise, earnestness and liberality
indicative of good results to the city
and surrounding country. 1t is
somewhat fashionable to sneer at
real estate men and their business,
but it Is fact, nevertheless, that to
their energy and pluck, or the lack
of it, can be traced large share of
the advancement, or the retrograde
motion, of community. Largely
through their hands passes the real
estate as transferred from one to an
other. In their hands is, of course,
retained a percentage of the value of
this property for their services in
negotiating the sales, and this in
come is expended in the manner best
calculated to increase their business,
the result of the increase being the
settlement of the country, the at
traction of capital, the encourage
ment of manufacturing and the up
building of divers industries which
keep the wheels Of progress in mo-
ton. The real estate agent who
spends the largest amount for these
purposes is the one deserving most
praise, and vice versa.
Now as the CAPITAL JOURNAL
understands it, the aim of the State
Exchange is to equalize these mat
tiers ito have a proportionate sumfrom
each member set apart as fund
whereby concerted action may be
had in all matters of advertising
the county, encouraging immigra-
ton and inducing the investment of
capital.
The importance of such
work can be seen at a
glance. 1t will be the nucleus
around which can be formed pow
erful board of immigration, which
can, with proper encouragement on
the part of the whole people, do a
grand good work in bringing Salem
and the surrounding valley to the
front, and in making this city the
seat of great industrial interests and
a commercial center Of prideful
proportions.
The movement thus inaugurated
in Salem has been in successful op-
Grafton i'm Portland for some time
past, and that the work done has
been beneficial and has been ap.
preciated there, the following letter
recently written to the secretary of
the Portland immigration board
will readily show, and will cause
the reader to hope that the spirit
breathed in that letter may be
caught by the business men of Salem:
"DEAR SIR, Enclosed please find
our check for 5000, the amount of
our subscription to the board of i'm
migration for the present year.
1t gives US great pleasure to con-
trihutn this, rnalt1t,,pr that
much of the prosperity of our city
and state during the past year has
been directly due to the vigorous
policy pursued by the board of i'm
migration in thoroughly advertis-
ing the state and its resources. The
immigrant who is so fortunate as to
cast his lot with the people of Ore
gon may indeed congratulate him
self. There is disposition to cor
daily welcome the new conner.
This sentiment is well expressed in
the remark made by our esteemed
fellow citizen, Hon. II. w. Corbett,
who, when asked to contribute to
the funds of the board, said, Il
have enough, and do not on my own
account care to contribute, but will
do so that others may have the OPP
portunity that l have had to build
up homes in this great country
Believing, as we do, that the sue
cess of the past has only been an in
dicatiOn of what may reasonably be
expected in the future, we are, yours
truly"
On next Friday evening the board
of directors of the State Exchange
will meet at the office of the Oregon
Land company for the purpose of
selecting permanent meeting place,
where public and private sales may
be facilitated and where all measures
the business welfare of the
city or state may be discussed and
plans formulated for united action.
The board of directors will also at |
this meeting elect u treasurer and |
vice-president, and the president of |
the Exchange will announce his APP
pointment of committee of arbi-
tration and a committee of appraise-
ment. The regular meetings of the
Exchange will be on the first Mon
lay of each month.
KICKED TO Observation-Disclosures
evening John Farrer, known here
For years as Jack Cook, was found
n the corral, at Mr.. A. Hackleman's
N the eastern suburbs of the citv