Los Angeles daily herald., 1889-09-17
PRODUCE EXCHANGE,
A Meeting 10 Revive the Old Organ
1Zat1On.

A Meeting 10 Revive the Old Organ
iZatiOn.
For some time past there has been a
quiet movement on foot among the pro-
duce dealers of this city to revive the
work of the Produce Exchange. This
institution, which was incorporated sew
eral years ago, formerly did effective
work in establishing definite prices for
all articles in market; but in the midst
of the boom it was neglected by its
members, and the regular calls closed.
A meeting was held yesterday after
noon ct 8 80 O'Clock in the rooms of the
Board of Trade, at which the matter of
Of the revival was taken under consider
alton. Owing, it is believed, to the un-
usual heat, not more than fifteen were
present.
General Mathews, who has been most
active in starting the movement, called
the meeting to order, and Secretary
Wood of the Board of Trade acted as
Secretary. The General said: The
Produce Exchange as it formerly existed
was an excellent thing for dealers in Los
Angeles. When the real estate excite
ment began the Exchange was deserted,
partly because its members found that
they could make more money trading in
land, and partly because production fell
off 30 that the dealers could always han
die more than they could get. A sue
cessful mercantile community can be
made only by close relationship of its
merchants go that they can protect one
another. Production is increasing 30
that now We get more goods than we can
sell. There are in this city number OF
brokers, who, when the m market is low in
any line can buy aud ship. Formerly
we had only about ten real call members
who absolutely needed the Exchange.
Today there are thirty-fve who would be
benefited.
Secretary Ward was called upon to
state the condition of the organization as
regarded finances and membership. On
the list Of the members of the old Pro-
duce Exchange there were forty-four
names. The assets of the Exchange were
| $685.71.
General Mathews proposed that the
organization should start in in provis-
ional form. New members should be
admitted temporarily on their payment
of 81. so month for time, until it was
assured that the calls would continue as
regular institution. When they we're
established the new members could buy
seats if they chose.
F. M. Keith spoke strongly favoring
the undertaking and Offering reasons
why it would be success. NJ. D. John
son said that it was the only way for a
man to keep posted on prices. He
thought General Mathews plan with
regard to the new members an excellent
one. S. B. Lewis declared that it was
an excellent and a necessary undertak-
ing. If the Exchange had been needed
three years ago it was certainly needed
now, when the population and produc-
ton had more than doubled. The def
mite establishment of prices was worth
all that it cost to the members. Several
of those present spoke in similar vein.
Mr.. Johnson moved that it was the
senee of the meeting that calls should be
revived and that paper should be cir
culated to which all who wished to take
part could sign their names. A COM
mittee of three, consisting of Messrs
Keith, Turner and Neiff, WAS appointed
to visit the dealers and obtain their
signatures to the paper.
The meeting adjourned to come to-
gether again next Thursday.