Los Angeles herald., 1905-11-16
PRODUCE MEN
HOLD BANQUET
HUNDRED MEN GATHER AT
FESTAL BOARD
Fortune Guests Enjoy Feast Of Reason
and Flow of SouI-Speeches Are
Both Wise and Witty

Unity of action and complete COM
mercial fellowship was illustrated at
the fourth semi-annual banquet of the
Los Angeles Produce exchange served
in the red room of the Angelus hotel
last night. Covers were laid for one
hundred members and nearly every
seat was occupied. The gathering
marked the formal opening of the new
offices of the exchange in the Mer-
chants and Produce bank building re-
Gently erected at the conjunction of
Central and Towne avenues. where in
future there will be daily calls down
the line in every feature of the pro
duce market, under the direction of
President Lewis and Secretary ]. Mills
Davies. The banquet was "one Of the
finest and was served with all the
perfect frills for which the Angelus
Is noted and with musical acocmpani-
ment provided by Jay B. Jacobs, chair
man Of the committee of arrange
ments. The toastmaster was the elo-
quent and witty member of the eX-
change, G. w. Thompson, who proved
himself a postmaster in the art of
meeting all conditions that were thrust
Unexpectedly upon him by the array of
spellbinders.
After the cordial address Of welcome
by President Lewis, who introduced the
toastmaster of the evening, C. w.
Thompson, after felcitious remarks,
announced that Eugene German, who
had been placed on the program for
the discussion of q topic, was, on ac-
count of previous engagement, unable
to be present.
Makes Happy Speech
President P. H. Lewis was intro
6uced to discuss the present and Flu
ture of the Los Angeles Produce Ex-
change" a subject which he treated
in his usual happy manner, inter
larded with a number of side splitting
Kentucky stories.
H. A. Frazier, as the representative
of the press gang, was asked to speak
upon the topic "Tell the Truth" He
covered points relating to reports of
jobbers on market conditions as COM
municated to market reporters from
day to day
Frank Simpson spoke upon the
Benefits of the Produce Exchange to
the Retail Merchants" detailing at
some length the benefits Of the ex-
change to the merchants and the peo-
pie in general.
John T. Allen spoke on the subject
of "Credits," the topic being of vital
interest to every jobber and merchant;
at is a subject in which all business
men of all nations are interested,
either as to how they shall get 1t or
to whom they shall give it. In its
various forms it has become indis-
pensable to the transaction of busi-
ness. A correct and safe basis for
credits includes three essentials-cap-
ital, character and ability. What we
want Is a modern system of credits,
one adapted to the produce trade.
Suggests New System
"I would suggest a weekly system,
the same that has been adopted in all
the important cities throughout the
country. Local produce dealers gener-
ally approve the plan. Many of the
fits does not admit of giving thirty
days credit
The points presented by Mr.. Allen
were heartily indorsed by liberal ap-
plause.
Gen. John r. Mathews, former pres
ident of the exchange, gave a forcible
address on the benefits to be derived
from a DAILY Call" at which every
member engaged in the produce trade
in every line will give official quota
tions of values that the press and the
public may be Informed daily as to
actual values in the local market.
Margins and Profits" was the topic
discussed by Mr.. Galbraith.
The banquet closed with a selection
by the De Nubila brothers orchestra,
and the announcement by Toastmaster
Thompson that the first daily call of
the exchange would be held today be-
tween the hours of 10 and II o'clock.
and that every member of the ex-
change was expected to be present.