The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-13
CHRIST CHURCH VALUES
BOARD OF TRADE FINDS MONUMENT
PLACE PROPERTY HIGH.
In Looking for New aiding Site the
Board Is offered Property at
Surprising Figures.

The indianapolis Board of Trade is in ear
nest in it's intention of moving into more
modern and centrally located quarters. At
the meeting of the governing board last
night this subject furnished the only lively
feature of the session. At a previous meet
ing of the board a committee had been APP
pointed to obtain prices on desirable sites
for the erection of a suitable Board of Trade
building, and last night the report was sub
mitted. The committee has asked and re-
ceived quotations from the owners of every
corner lot on Monument place, with the ex-
ception of the English Hotel and the Fitz-
gerald building. Some of the figures quoted
are Hendricks block 800 900; Rhodus
building, 5000 Christ Church, $4,000. The
committee is in favor of purchasing the
church property, but as it had only been
empowered to offer $4,000 the members re-
ported that the board and the church vestrv
stood 5000 apart, with little chance of get
ting together. A motion was offered to au-
thorize the committee to renew the offer of
$4,000 for the church property, and if ac-
cepted by the vestry to close the deal for
the board. This was, however contrary to
the ideas of a majority present, and after
discussing the matter at length it was finally
decided to allow the committee to seek fur
Their for a site. John w. Murphy, chairman
of the committee, in discussing the matter,
said he was not in favor of the church cor
ner a site for the building, and fur
thermore thought the price too high and the
situation too far removed from the business
interests of the city. Judge Martindale,
however, thought the location a good one
and bound to increase in value. In his
mind the value of the property would in
crease in the course of a year to such an
extent that should it afterward be found
undesirable to build there, the lot would
sell for enough to yield interest on the in
vestment.
A communication was received from the
St Louis Traffic Bureau, touching on mat
tiers being agitated by that body. The first
was on the advisability of petitioning Con-
gress to have all express companies and ex-
press carriers declared under the jurisdic-
ton of the 1nterstate-commerce Commission
as common carriers, and to this end seek the
passage of an amendment 10 the interstate
commerce law to cover the case The board
concurred in the portion of the letter which
referred to making all express companies
common carriers, but with regard to the
board passed the following resolution, which
was ordered sent to the Traffic Bureau in
st. Louis: I'VE recommend the secretary
to say in reply to this question that this
board is unalterably opposed to the inter-
state law and that we will be glad to see the
law abolished" The board approved the
action of the st. Louis organization recon-
mending a change in the postal laws SO as
to establish parcels post on the lines
of the English system. The board reported
favorably on a communication from the San
Diego, Cal, Chamber of Commerce urging
on Congress the advisability of completing
the Nicaragua canal.
A committee report showed that the beet
sugar industries established in the central
counties of this State last year are all doing
well and have every indication of proving
a permanent industry among the farmers.
The matter of establishing manufacture
ing post out of the federal arsenal in this
city was the subject of a letter from Senator
Fairbanks which was read, stating that he
intended to call the attention of the quar-
termaster general of the army to the matter
at once. The purpose is to make the local
arsenal one of equal Importance with that
at Rock Island, ILL.,, and eventually secure
the establishment of an army post here.
William T. Cannon, treasurer of the Union
Railroad Company; NJ w. Mansfield, super
intendent of the ]. & v. Railroad; L. K.
Chapman and Frank H. Goheen were elece-
ed to membership.