Omaha daily bee., 1894-03-11
In THE INTERESTS OF OMAHA
Commercial Club and Board Of Trade May
Combine Their Forces.
ACTION MAY Be TAKEN TOMORROW
Full Text of the Resolutions which VIII BE
Presented ms the Terms of the Union
Step that Has Been Contem-
plated for Some Time.

Mr.. w. A. l.. Gibbons presidency Of both
the Commercial club and the Board OF
Trade has for several months hlnted at a
consummation which efforts will now be
made to bring about without further delay.
The plan is that the Commercial club shall
absorb the membership of the Board of
Trade. Yesterday a member OF the latter
body prepared set of resolutions which will
be presented to the Board Of Trade at q
meeting to be held tomorrow.
The resolutions authorize the payment
from Board Of Trade funds of IS quarterly
for each and every member of the Board
of Trade, to be paid into the Golfers of the
Commercial club-each member Of the for
mer to receive in return certificate of
membership in the Commercial club. This
money aggregates quite a sum. 1t means
81 900 quarterly to boost the finances Of the
Commercial club. The cash is to be paid
from the net income Of the Board OF Trade
after all other expenses are paid.
The following Is the full text Of the reso-
lutions which will be presented:
Whereas, The Omaha Board OF Trade Is
corporate body created for specific work
under the laws of the state of Nebraska,
and
Whereas, The said specific work, as de-
fined in article XII Of the articles of lncorpor-
alton, read as follows:
"The object and purpose Of said cor pora-
tion shall be to promote the commercial,
manufacturing and general interests of the
city of Omaha, and establish commercial
and financial exchanges therein, and 1t
shall have and exercise such corporate pow
rrs as may be necessary and convenient
10 that end including the power to acquire
and hold such real estate as may be neces-
Bary to accomplish its corporate purposes;"
and
Whereas, The revenues now being derived
from the real estate possession of the board
are sufficiently large to meet the interest
on the bonded Indebtedness ($60 ,000), cost of
maintaining insurance rates, salaries, ETC.,
and leave surplus; therefore, be 1t
Resolved. That the net income of the
Board of Trade, after paying all necessary
and legitimate expenses for interest, taxes,
maintenance, salaries, etc., be disposed of as
SLOWS:
First, To more perfectly carry out the OBJ
S9ct of the corporation as set forth in arti-
Gle Ii OF articles of incorporation that the
sum of five dollars $50 quarterly for each
and every member of the Board of Trade
in good standing be paid to the Commercial
club Of Omaha to aid said club in the work
of upbulding and developing Omaha's COM
mercial and Industrial interests through its
organized bureaus and officers.
Second, Any surplus accruing after the
aforesaid disbursements shall be placed In
sinking fund in some bank to be selected
by the finance committee, for the purpose of
paying off the bonded indebtedness; and be it
further
Resolved, That this said quarterly dis
bursement and deposit shall be made COM
mencing April next, July 1, October 1, ETC.,
and to continue the same each succeeding
quarter as long the Commercial club shall,
in the judgment Of the board of directors
of the Board of Trade, continue to maintain
its present high standard of organization
and vigorous work; and be it further
Resolved, That this contribution Of five
dollars ($5) per quarter aforesaid shall be
conditional on each member of the Board Of
Trade in good standing receiving a certificate
of membership from the Commercial club,
emitting said member to all the privileges
and advantages Of said club and to continue
as long as said quarterly contribution as
aforesaid shall be paid by the Board of
Trade to the Commercial club.
This means a gift of $4,000 for the year
1894 to the Commercial club Membership
certificates in the latter cost 500. BY pay
ing for these quarterly, in $5 installments,
each Of the 200 members of the Board of
Trade become the full-fedged possessors of
piece of paper with gilt seal thereon and
bearing the signatures of the officers of the
Commercial club.