The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-09-11
A BOARD OF TRADE.
Commercial Club Takes Prelim-
mary Steps to Start One.
Plan Is Elaborated in a Paper
by H. C. Taylor.


club for further ton and consld-
Grafton. The members of the trades
extension committee are r. s. Brigham,
chairman; w. F. Jensen. vice chairman:
Warren Nj. Crosby, w. w. Mills H. A.
Auerbach, James c. Smith, D. p. Pax
ton, p. w. Griggs, H. H. Glen, c. W.
Guild, Sam Barnum, e. Montgomery,
Chas p. Adams, Frank p. Edison, H. M.
Steele, B. L. Rees, A. A. Robinson and
Jason K. Jones.
H. c. Taylor. grain and commission
man of Topeka, appeared before the
members of the Commercial club last
night in an effort to get preliminary ar
rangements started looking to the
establishment of a board of trade
The plans would be to erect as soon as
possible building suitable for the
stock exchange with sufficient Office
rooms for rent to commission men and
brokers to pay for the expenses OF the
organization. In event such building
is erected it may be that the CONNER
cial club will find quarters in it.
In presenting his view of the subject
last night Mr.. Taylor said to the mem
bers of the Commercial club:
Il desire to present a few arguments
relative to one of the most needed in
situations which we do not have. 1t is
board of trade, or 1 would prefer to
call it a merchants exchange. The time
has come when we must have such an
organization in Topeka, If we expect to
| handle the business in the different lines
| that is ours here for only going after
MY lu6a is TO organize d MeTCudntS
Exchange, making all wholesale deal
ers, in every commodity. together with
| the bankers millerS, bakers, and retail
| dealers, eligible to membership. in fact,
any man who is a reputable citizen, and
| in a legitimate business. If we had
| such an organization here. it would only
! be matter of time until Topeka would
| be known all over the world. as mar
/ ket, while we would have place where
| buyers and sellers could meet. and do
ira in a M
| an open market. there is not whole
| sale commission house in Topeka but
what would receive twice as many con-
signments as they do now. no matter
what line they handle, whether it be
| vegetables, fruit. or in fact. ANYTHING
| that would be handled by dealers on a
market Say, for an example: a whole
| sale dealer has car. or several cars
| of apples or potatoes to dispose of, and
| if he takes an average sample down on
/ the exchange and exhibits it, and there
| are five or six dealers in the market to
| buy, they look at this mans sample.
! and also. other samples from other
houses of the same product. and make
I the man an offer on so much. or on ten.
| or twenty barrels. or car load as the
case may be. and so it will be in all the
different lines of trade. This saves the
| sellers from running to all the different
buyers, and also. saves the buyers from
going to all the commission men who
have anything to sell.
I'VE are all well aware of the fact
that Topeka has the best flour mills in
the world, and the sun never ceases to
/ shine on people who eat bread made
from Topeka -four. and when we once
| have an established market here for
grain and grain products, there will be
| buyers here from all the quarters of the
globe the same as there is in Kansas
City, ST. Louis, and other established
markets. Owing to the fact that we are
| so closely located to Kansas City. and
Ir~<
think it best to have our market here.
a general produce market. though am
only interested in grain and grain prod
ucts. We are often asked in what way
| we are expected to raise our money.
| and carry running expenses. etc.
but will say there are manv different
ways in which can obtain money,
and carry on the expenses of our or
ganization. MY idea would be to or
ganize with 100 members, having the
membership fee about s25 each. some
think it should be $50. and some say
we should have 200 members with men,
bership fee $25, but for example, we will
say, we have 100 members at s2h each
this wilt give US $780, which would be
ample fees to start us out in good shape
and at anv time we can double our
| membership if we find there are more
dealers who would become members
against the traders on the floor or on
each membership until we could build
First. we could rent room, say a large
store room that is centrally located. but
it would not be long until we would
| erect our own building
II have spent some time on the ex-
change in ST. Louis, and once I asked
how they kept up their expense, and
they replied to me, Why, we own this
building, and we receive office rent tc
more than pay for all our expenses.
have here copy of the report of the
board of directors of the ST. Louis
80 xx<,I.en E<>r- kl.<ax n Ir1c
January 1, 1901. They received $58, LIT 81
from rents, and their annual running
expenses were $33, 117.81, leaving then
a balance of $4,000 over and above
had 1872 members, but only a few
, years since membership could be pur.
chased from $25 to $50, although it nov
costs $500. In 1890 membership on thu
Kansas City board of trade could b,
bought for less than 500; now it cost:
; $, 000. AS have stated before, Kan
sas City market is exclusively grain.
think it would be better for US to pat
tern our exchange after the st. Loui!
merchants exchange 1t is very inter
esting to go there and take a lool
around that large room during thu
! business Iours. At one end Of tn
; room you will find vegeta bles, flour
bran and mill feed: then comes thu
stock and option pit, and then thu
table which they set the samples O
grain, and then all the buyers go from
| table to table and look over the va
rious samples in the different lines o
grain and make their purchases. Nov
/ can see nothing to keep US from hav
ing the same kind of market here.
Some of the people here whom I hav,
talked with on the subject, say the rail
road companies here will not let vol
| do anything of the kind. 1t is my ex
| perience with the railroad companies
! that they do not aim to work very mucl
contrary to their interests, and SO lonf
/ as we do not have an organization and
our various committees to represent u!
to the railroad companies, we will never
have what other markets have. ON,
shipper can go to railroad compan.
and ask for favor and will not get it
but let man go who represents an or
ganization, and explain what he wants
and Will. dare say he will get it, ant
SO / think let us get our organization
| first, and then our various COMMITTEES
| look after the matter and think w,