The Montgomery advertiser., 1908-01-09
BOARD OF TRADE IS ORGANIZED Representative Business Firms Participate. TO oUTwIT WIRE HOUSE LAW Organization Will Stay Strictly Within Letter of Law. win Cost ss,oso to Msintsin orssni1a- sios--commitsee is Appoaated to Arrange Plans and Fix
 By-Laws
 
TO oUTwIT WIRE HOUSE LAW

For the purpose of providing means to secure market quotations on cot ton, grain, and provisions. fifty of the representative business firms of the city sent represent ptives to the rooms of the Commercial Club yesterday af- ternoon to form themselves into a suitable organization which should se- cure them the, desired information and at the same time be within the bounds of the law.
 The meeting of yesterday was ne- cessitated by the passage of the law suppressing bucket shops in the State of Alabama. and the consequent en- forcement the law going into effect on the first of January.
 Much inconvenience has been caused to the business firms of the city and throughout the State by the passage of the law, and it was deemed advisable to call the meeting in order that con- certed action might be taken to secure information regarding future quota tions of stock and products
 The meeting was caled for o'clock promptly. and nearly all of the firms to whom the call had been sent had representatives present. J. F. Ferrall, of the Ferrall Cotton Company, stated the condition o&s affairs in the city since the enforcement of the law re- garding the operation of the future brokerage firms in the State. and moved that J. c. Haas be made chair man. The motion was carried and MT. Haas accepted the chair.
 Mir. Haas stated that the immediate object of the meeting was to devise some means of securing quotations on all commodities and called upon some one to give views of how this is to be accomplished.
 Mr. Ferrall said that he has been looking around and making inquiries as to the cost of forming club or board of trade and that he determined that the minimum cost would be $5,0O0 e year. This money will include rooms, a private wire. an operator, telephone and the necessary attenda9ts to keep the board answer the telephone and Ahe like. He moved that the meeting go into executive organization and that the roll of names be called for express eions regarding the forming of such an organization.
 On motion MT. Bellamy was made secretafy After the vote on which twenty-one firms responded yes. MT FerraH moved that all of those who had voted in the negative be given the privilege of retiring from the meeting. This motion was carried. and the twenty-one remaining went into an executive session.
 Mfr We'll moved that a committee be appointed to consult legal talent to deterunkne. what kind of organization could be formed so as to conform with the law MT. Virgin stated that he had consulted an attorney and had been informed that a private organization could be effected under the law. The quotations received by the organiza- tion, however, could not by any means be made public.
 Mir. Ferrall proposed that a commit tee of five be appointed to determine the means by which the organization could obtain the desired information in accordance with the law, and also for the committee to draw up @ con stitution and bylaws. Messrs. Fisk, Ferrall, Roman, Kahn and Haas were appointed as the committee.
 The firms which attended the meet ing in it's executive session were: John Trimble, Schloss and Kahn, F. G. Hammond, Roman Cotton Company. Ballard and Ballard, R. B. Lowe and Company, Ferrall Cotton Company,.sF. F.. Johnstone and Company. r. B. Fisk Cotton Company, J. c. Seibs and Com pany, A N. Catrevas and Company, A L. Wolff and Company, Elmore-Quil-