The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-04
GEORGE G. TANNER EMPHATIC
HE DECLARES NO GOOD COULD COME
OF A COALITION.
Judge f. b. MartindaIe Opposes the
Proieet-Oner of $4,000 Made
for the Boards Property.


sat upon at the meeting of members of
the former organization last night. The
opponents of the project sounded the depths
of emphatic oratory in expressions of dis
like for anything savoring of a movement
to merge the Board of Trade with any
organization. The friends of the plan
either sat silent or timidly and deprecat-
ingly attempted to still the gathering
storm. If last nights meeting of the board
is to be taken as a criterion of the senti-
ment Of the members there is little likeli-
hood of the board losing its identity.
The meeting last night was not for the
purpose of considering the consolidation
plan; that came up in the course Of gen.
eral discussion following an offer to pur-
chase the property. Gavin L. Payne, rep
resenting the Security Trust Company.
came before the board with formal offer
for the property at Kentucky avenue and
Maryland street. Some time ago the Sc
curity Trust Company, acting for client,
made an offer of $4,000 for the property,
which was turned down. Last night Mr..
Payne, representing the company and the
same client, renewed his offer and raised
it TO $4,000. He asked that IL possible an
immediate answer be returned. The offer
set out that the property would be main
tanned until 1905 in its present condition;
that the board would have the use of GER
tain rooms for 800 a month, and that the
present rentals would be continued. Mr..
Payne made the statement after the meet
ing that his client desired the property as
a real-estate investment, and that any
rumor to the effect that the property was
desired as a site for the interurban ter
minal station is absolutely without founda-
ton.
NO HASTY ACTION.
The second proposition of the trust COM
pany was discussed at length with the re-
suit that the board decided 1t was in no
position to act hastily. and inquiry was
made of Mr.. Payne II the offer could stand
for thirty days. He intimated that he would
have to consult HIS client and the board
closed the incident temporarily with res
olution to take 1t up at the next monthly
meeting.
There was some discussion as to whether
the board of governors have power to act
in disposing of the property without calling
a meeting of the membership to take ac-
ton. Judge Martindale and others were
of opinion that the powers of the board
are sufficient and they expressed the fur
Their opinion that the board would naturally
be more familiar with all conditions affect
| ing the sale than the members at large
Then the consolidation project drifted nat
| urally into the discussion and speeches fol-
| lowed like the discharge of rapid-fire guns.
George @. Tanner, who has been identified
| with the organization for many years and
was at one time its president. in lengthy
argument against consolidation. bitterly OPP
| posed any movement that would rob the
| Board of Trade Of its identity.
Prefacing his remarks with the statement
that the proposition is one-sided as it af-
fects the financial standing of the two or
/ ganizations, Mr.. Tanner said: "At no time
| has the Commercial Club treated with
| consideration. When we have not beer
| treated with absolute discourtesy. we have
| been ignored We owe them nothing in the
way of an exchange of courtesies. Why In
the world should we exchange our assets
IS itr' W now 40" D''
President Appel-"one hundred and fifteer
thousand dollars"
BITTER OPPOSITION.
Then" continued Mr.. Tanner, "the cas-,
explains itself. We own our property, fol
which we have just been offered $4,000, ant
we have other assets which will bring tn,
total away up. own share OF stock II
the Commercial Club that 1 paid 500 for
and would consider II a bargain If 1 could
get cents for it, The men who organized
proper basis. 1t has been a most beautiful
failure and the Board of Trade has been
thorough success. If the members of tn
Commercial Club want to come into thi
organization well and good. We will throw
the doors open to them. and If any of on
bylaws are not satisfactory to them mayb
they can be revised, but as for this con
solidation business, you cannot hitch fas
horse and slow plug together and expec
to get speed. If you want to kill the Boar
| of Trade, why, consolidate.
| 81 am really not able to be here tonight
but II had TO be carried to this room on
| stretcher 1 would come to enter my protes
against this consolidation scheme. II yo
consolidate / give you my word / can z
out in this city and get one hundred me
to form a new Board OF Trade which Wi
have more influence and do more bushes
than your much Wanted Chamber of Com
merce.'
At this point E. w. Bassett attempted
conciliatory speech and made the remar
that the character OF the membership @
the Commercial Club had changed; tina
some unwarrantable things are out, an
that the younger blood is friendly to tn
Board of Trade and sincerely desires tn
81 do not believe in waving the blood
! shirt. he concluded.
Well. do when it comes to this e,
things We cannot forget / am against TIL
movement for the best of reasons
? Fred p. Rush made a brief talk again:
| the COuSOuudllOH pidDs anu I0en smiley
| Chambers was called for to make a n
port on what has been accomplished t6
wards consolidation. Mr.. Chambers ev
I | IDENTIFY recognized that the moment was III
| propitious for any argument in favor of II
merger and his statement was exceedingl
( | brief.
MIR. CHAMBERSS REPORT.
5 THE committee agreed" he said, "ths
J, IL would be a good thing for Indianapol
J. If these bodies could be brought togeth,
, in a combination OF vast influence Beyor
e that do not think anything has been don
q and any reports that plan has bee
. formed are premature and incorrect. Notl
n ing is ready yet for presentation to IL
board
n Following Mr.. Chambers. not a friend
e the consolidation movement had a VOL
o to say. Judge T.. 3. Martindale made
e short speech commenting on the absurd
d OF any consolidation plan that proposed Il
e melting of the assets of the Board of Ira,
! and the liabilities OF the Commercial Cit
L without regard for the rights OF the mer
e bers OF the former organization. Jud,
5. Martindale said that the Board of Trat
has a brighter future before IL IL IL go
ahead under its own Identity seeking
improve its general standing. There a
many things in the way of consolidatin
e, he said, and the mortuary clause STAN
a like rock I'm the path.
President Appel commented on the IA
n that there were more members present