Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-11-29
JOHN AND HIS CASH
May Build . Channel to Lake
Michigan
OFFER FROM ENGLISH CAPITAL
Annual Messing ~ the Board of
frsde--Oid Omkccr~
kte-Eiecsed

NJ. b. Church presented . proposition
10 the board II trade izst night which
may lead 10 great results and may solve
the river improvement problsm- lie
has received proposition from . man
interested in the Investment Of English
capital TO construct deep water chan,
nel aud maintain IL by charging toll
The matter viii be fully considered and
q report viii be made by the river i'm
provemsnf committee
The report Of the treasurer was read
showing about tl7o on hand This re-
port was accepted
Report or the Secretary.
Secretary kinsey made his annual re
port Is follows: 10 q city the size OF
ours and where the trade and commerce
10 large enough In the principal lines 10
warrant the expenditure Of large sumo
Of money by persons engaged In such
| lines for the maintenance Of an organi
zatlon whose cypress functions ara TO
facilitate and expedite trade and com
/ merce between lie members, the use OF
such al organization a. this 10 often
questioned Stocks. bonds pork. -four.
grain and produce are none Of them.
nor all combined. OF sufficient volume in
our markets TO even attempt public
exchange.
Be this true or not. the board OF trade
In Grand Rapids is not in existence for
such purposes only. but for broader
aud more general one. and for that rea-
con must look among broad and liberal
minded men for its support Men who
look beyond the narrow field Of direct
return into that OF neutral dependence
when much good TO one results in some
good to all. 1t has been our principal
aim during the past year 10 bring such
matters To the attention Of tho board as
would have a tendency TO increase, fos-
ter and protect. as well ~ 10 diversity.
our manufacturing interests. which are
the direct and the indirect basis OF our
population. TO stimulate q tide Of travel
and trade TO the city that will place il
IN the same relation TO western that De-
troit has 10 eastern Michigan. and that
Chicago has TO the great northwest; 10
take such advantage as our very limited
means would permit Of the great worlds
exposition just closed. that should place
the facts concerning our size, growth
and prosperity before thousands from
all parts Of the globe, to dis
cuss and recommend such re-
form in our municipal government
as appeared expedient and necessary TO
the best interest OF the city; TO bring
about the necessary legislation 10 enable
the city to enter into the project for the
improvement Of Grand river should its
citizens by vote 90 desire. In the first
little success could not have been hoped
for than that attained the first six
months. In the second, the infiuen CO
OF such work a has been done, though
remote, has resulted in much good. Ii
il believed. however. that a stronger
effort be made 10 secure excursions 10
come here. In the third, we were &C
corded privilege OF distributing adver-
Using matter at the worlds fair not ac-
corded to any other city. In the fourth.
much was attempted but nothing &C
compIished. Recommendations from
this body TO the departments OF the city
governmenf-hayen not even received the
courtesy Of being acknowledged. The
balance OF the report was devoted to re-
citing the namesof new concerns which
have been brought here during the past
year and in summing up the condition
OF the finances IL was accepted and
placed on file.
The board received the report OF the
inspectors OF election and the new board
OF directors went into its regular session
and reelected the following officers:
President-George G. Briggs.
First Vice President. NJ. Turner.
Second Vice President-L II. Whitney.
Third Vice President-S. M. Lemon.
Treasurer-S. A. Norman.
Secretary-W. ii. kinsey.
Oner From English Capital
NJ. b. Church was present and stated
that he had met a man in Washington
who was promoter OF matters In " hich
he can engage English capital. This
man made a proposition to take charge
81 the river improvement and make a
toll channel from Lake Michigan 10 this
city. lie said be would prefer TO invest
not less than 100000 and make the
channel deep enough to allow the larger
craft 10 come 10 this city. Mr.. Church
stated that he had not gone into the
matter Ia detail and be desired that the
board discuss the matter. 10 answer 10
questions Mr.. Church said that the gen
tlemen suggested that 10 cents per ton
would be reasonable rate Of toll He
said that 10000 per year would be
about the profit expected to induce
English capitalists TO invest. The mat.
ter was fully discussed. and. on motiou
% Charles Fox. the river company was
instructed 10 furnish such figures 10 the
gentleman az will induce him 10 come
here and consult with the board.
Charles r. Sigh read q letter from
Colonel Ludlow. who has been appointed
military ommsnder Of the American
legation In London. in which he thanked
the business men % Grand Rapids fol
the courtssies extended 10 him. Mr.
Sigh moved tina; COMMITTEES be sp
pointed to draft resolutions 81 respect
and forward them 10 Colonel Ludlow.
Set the Board Right
William Alden Smith offered . resolu
ton IN which IL VAS declared that "a.
attitude OF the board toward tia labor
ing classes had been misconstruss; tina
the members az the board we're evei
siiling and ready to lend aid to the poo