The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-09-12
FOR A PRODUCE EXCHANGE.
Sentiment of Business Men Is Strongly
in Favor.

The sentiment among business men in the
city, especially produce dealers, is very strongly
in favor OF a produce exchange, as is shown by
q number OF interviews a PoST-ISTELLIGENCER
reporter had yesterday. The feeling that such
an organization will greatly benefit the city was
expressed by all The only trouble seems to be
in getting the thing once under way. Ii. W.
Baker OF the shipping aud commission house of
II. W. Baker & Co., said:
The primary object of the merchants ex-
change will be the establishment Of prices in
all products dealt IN on the exchange. Eluctua-
tons in these commodities VIII dcpend directly
on the supply anu demand, the supply in Chi
cago aud tue demand in continental Europc and
the United Kingdom cutting no small figure IN
influencing them. In the wheat trade ruling
charter rates to Havre and the United Kingdom
must b. quoted, a. they are an important factor
In our competitive prices III Europe, as against
wheat rom the central states taken for export
from New York. The Eastern and London
money markets must be quoted, as from them
can be figured exchange. factor IN prices.
Conditions OF crops throughout our producing
districts must be noted as well around
foreign markets, which also have produc ng
districts tributary TO them, drawing upon out
side markets only for their shortages The
California market must be quoted from the san
Francisco Produce Exchange. That is our
neigh boring market and our strongest seaport
competitor; We must be posted with dispatch
on local prices there, as ours would depend
uron them 70 large extent The merchants
exchange properly organized and properly con-
ducIed wo4ld be the strongest possible factor in
the Capitalization OF trade and the harmonic ing
of lis various Influences into price basis.
Seattle would daily be quoted throughout WASH
tngton, Oregon aud British Columbia, and in a
few short years,with the growth OF the city, the
growth OF trade, the increase il the demand tor
wheat and hops for export, would make Itself
felt = mat riat influence in the markets OF
Chicago ana New York. I he plain reason j. that
" Washington is becoming great wheat and hop
growing state, and Seattle IS tae principal
and natural seaport. The banks Ia the city
should hold memberships, the lunber and mop
y4,rf > q =
proc3ce merchants, ship brokers, marine in
suranve brokers and general warehousemen
should also be represented on the door OF the
exchange. II only needs = lucld Understanding
OF the benefits which would ultimately accrue
10 the business community in general 10 secure
Tor our projected exchange large, enthusiastic
mem beTSAlp and assured success.
The following COMMUNICATION on the subject
comes from IAN old Board of Trade man:
one OF the important questions now before the
people OF seattle Is: Can we secure the grain
trace OF " Washington? answer, Yes, without q
DOUBT. think the time has come when seattle
should take immediate action, and organic. 8
produce exchange, for il appears to me that s.
attic Is on the verge OF losing one OF the most
important interests now at issue; one that her
SITUATION commands and that sle should by ali
means control, and II sle steps 20 the front and
adopts the system OF other exchanges OF our
country, win an established market aud with
legal grain inspections, she W Ill become power
| N the grain trade of the Coast, with Puget
sound, one OF the greatest natural gsteways OF
49, I'm 49, "a AL 1ntA oh Oa1S
| side and our millions of bushels Of gram spread
| out over the vast territory OF Eastern Oregon
ana Gshlngton on the other side, seeking TO be
admitted through that natural chanuel TO mar
ket that nature has provided for I, she will be-
| come ihe leading grain market of the Northwest
our enieTprlslRg citizens have built good ele.
Yators ana terminal facilities ana are prepared
70 take care OF the grain that VIII seek this city
| Tor TaaTke: IN the near future, and they have
made an effort in the old Puritan way 70 create
| a satisfactory market But il was long ago
demonstrated by our Eastern sister cities ths Z
they could not CONTROL or bring 10 thsIr door.