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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Feb. 27, 1916)
TJIK OMAHA SSUXDAV UKK: FKHKtAKV J7, l'.M. PVen Omaha G rain Exchange Was Born; Story of First Day's Transactions Told Again r Maximum Engineering Service Here ts an Interesting historical document, the verbatim account of the opening of the Omaha Grain exchange taken from The Pee of t&e morning of February 2. 1904, beginning with big beading on the front page left-hand column. It hares the interest of the day with a sUrtllnK account of the Russian fleet gathered at Vladlvostock and the grave possibilities of war be tween Russia and Japan. Also with the rtory of Senator pletrich'a first appearance in the senate after the charges had been preferred against him by a grand Jury in Omaha. Here la the story, "verbatim, literatim and punctatim:" EXCHANOK IS OPENED. New Commercial Agency ot Omaha Ursine Arliul Operation Monday. BEOrNKTNO " ACSnCTOlfl AFFAIR Pregldent Wattles Mskea lntcreetlng Fpeech. trains' Fair Dealing for All. ONE OF THE POPULAR MEN OF THE BODY. a cnowps op rrsiNKSfl y: tiikre Chicago I'oard of Trade Mun Attrtuls and Offers Murli Knrouragc mept. oxd markEtanT' live trapb Omhe at Last Realises the Beginning td an Industry Which It Haa So Long Fought Odda to Secure. Me Incidental muslo waa noticeable en the streets; the populace looked about aa cold and cheerless and overworked aa usual and the glad-colored bunting re mained tucked up with the sequestered moth hail there waa no sign of holiday enthuslsam. Tet Monday the Omaha Grain exchange began business. From this day, perhsps, Omaha takes Its right ful place aa the market town to which ahall eome the products of tba aoll which of right la tributary to the city through geographical location. From the first moment the Infant In dustry waa a healthy one and aanr out loud. May corn opened at cents and by 11:30 o'clock waa up to C centa, while Chicago during the same time had gone up only of a cent Oats (May) started at MH and was soon up to 4014. leaving Chicago's advance far behind. June wheat waa Mi cent beilec ta tncreaae than the big city's market. Some of this advance was due, no doubt, to local enthusiasm but It was, especially In corn, a fine, strong market. In announcing the opening of the ex change for trading. President O. W. Wat tles said: "I would like to impress upon the men who form the backbone of the exchange the actual grain Tnen that they should observe a little ihore than fair dealing with the men who are to build up the ex. rhange the producers and shippers. Fair bualneas only ts the sort which will build up the market In the starting of trade It would be well for the brokers to over look the temporary advantage which they may have over the others and work only for the upbuilding and permanent good of the exchange, whloh la to be worth so much to this city. Attempts have been made on several occasions to start a mar- ' ket, hut these have failed for some rea on. We have begun this exchange for , keeps and the men who are back of It will see It through, owe elflakaeae la IVataral, "A certain selfishness Is to be expected in all businesses everyone must flrat ronatder his own advantage- 1 say to you for thla reaeon that you should not get too heated or angry over the rate alius tion In the state. There haa never before been a real demand for grain rates to this city. It is true the rates have discrimin ated against Omaha in the past and do, perhaps, a Uttle now, but these are being AY.Kinskp adjusted. They must become right whether it pleases the railroada or not A flsht may be necessary, but if it Is we wl'l enter the contest with good nature but there shall be a grain exchange with mills and elevators doing business. Wo all hope that this may be brought about peaceably and all forces to that end will be used, but everything will be done for the upbuilding of the great city in which we have made our homes. Start out fairly, I ssy again, to tlis element the producing element on which we all bsse our success." Presldsnt Wattles made the first trade. offering 1,000 bushels of corn from his orihe for May delivery. N. B. Updike offered centa for it W. C. Sunderland raised it to the half and Mr. Updike made it 40 cents. A. B. Jaqulth was on ths point of doing something better, but was caught under the hammer. Mr. Updike took he corn for W. H. Furguson of Unooln. The exchange business waa not opened until 10 o'clock because the juice for ths ticker had not found its way along the new cord nor had the samples arrived. The big blackboard waa ready, however, showing the Chicago market, that at Kansas City, Bt Louis. Minneapolis, Du ruth. New Tork and the newest but not least-Omaha, . A large weather bursa weather map and six Tennessee marblea tables for the grain samples completed the furniture. The Western Union and Postal Telegraph companies had desks beildo tho entrance. The exchange offices communicated through double doors with the floor. i McWhortev Opeas Bids. Vice Presldsnt 8. A. MoWhortar mads the first bide to start the Omaha market 40 eenta for May oorn being chalked up, 71 eenta for May wheat and 70 centa for July wheat At 10:06 o'olock he bad re quest from all the other markets for the first Omaha quotation In ths total re ceipts chalked cp sixty-seven ears of wheat came to Omaha, thirty-two went to Chicago and 101 to Kansas City, In corn Omaha received eighty-nine cars see agslnst 9U for Chicago and sixty-six for Kansas City. Oats were In the same order thirty-five, 183 and seven cars. When business opened more than 100 msn were in the call halt These Included representaUvsa of all the elevator and grain companies doing bualneae la the city, stockholders snd officers of the exf-nance not grain men. railroad men snd other spectators Iorai roada had representative present. W, J. C. Kenyon respresenled the stock rd. .V II. Farnum of the Ilarils OmI" company from the Chicago Board of Trade waa here; lie aild: "You have made a good start. I cime out here to eee what you had. I think Omaha has every chance, to build up a lame market In grain. The city has un limited amounts of grain trlbuury to It Then there are the railroads centering here. Chicago recognises that Omaha I will become a very Important grain cen ter." Firms showing aampfrs of grain were Tmnmler AV Pon. Merrlein Holmquist, Omaha Elevator eomany. Ppdike Oraln rompany, and the Trsnsmlsslielppl Grain company. Tho first rash trade wss by Twsmley A Son, eight cars of corn at cents to tho Omaha Elevator company. Other trsdes were: MeWhorter, Holllnger A Sunderland, 44.000 bushels of March oats at 31 rents to the Updike Oraln company; asms firm to the Transmlsslsslpp! com pany, t.OOO buahels May corn at V cents; B. E. Barnes, R.ono bushsls July wheat at 70 cents to 1'pdlks eompsny. It has been arranged that railway transportation men and Insurance men may have floor cards for (3. Asiasst of Bastaass. The business In futures during the morning amounted In round numbers to tOO.OOO bushsls. This. It wss said, wss greater than the average dsy on the Kansas City exchsngs. The cash busi ness was also large. The cssh market was as follows: No. I hsrd wheat 1ltnSie. No. bars' wheat. T.T7r. No. 4 bard wheat 7:"l7e. No. I red wheat ne. No, I red wheat. 772r No. t spring wheat TRweAe. No. I spring wheat T7iff7r. No. 4 spring wheat 74flTTe. No. t oorn, 4Hc. No. I corn. Jvfi3!o. No. 4 oorn, 17d'3sc. Some Details of the Great New Home of the Grain Exchange P. A. Benninjrer, KB Omaha National beak building, la the architect of the new Omaha Oraln exchange building. around waa broken for It December 1. 1314, and It waa completed February L 1914, at a east of SSt,000, exclusive of the cost of the grouau oa which it stands. Engineering problems demanded to be solved right from the start The site is on filled in ground which was for merly a sunken and marshy place. The ground wasn't firm enough to hold the weight of such a massive building. The foundation waa built by t he sinking -of piles. These are of concrete and number about OuO. They are thirty-two feet long, twenty Inches in diameter at the top. They were placed by means of a pile driver whtcet drove in a "dummy" steel pile covered with a sheet iron sheath. The dummy pile waa then withdrawn in each caaav leaving the "mould" In the ground. This was then filled with con crete. The building Is eight stories high and has a frontage of 160 feet on Harney street and 10 feet on Nineteenth street. The structure Is of steel caaed In con crete and the floors are of concrete, built by the Concrete Engineering com pany of Omaha on the Meyer plan. The outside ia of Impervious brick snd terra cotta granite finish. Bslconlea ornament the second snd seventh floors and a handsome cornice surmounts ths ' building. The architecture is seml-Ootblc and Romaneequs. There are eleven stores on ths street floor, each with a basement Heating plant, boiler rooms, coal bunk era, eta, are In a separste structure. The Oraln exchsnge room Is on the seventh floor, extending up through the eighth. Testing rooms and quarters for tba exchange offloea are on the eighth floor. The other floore are taken up with offices for various firms, rest rooms for the girl employes, etc The woodwork is .mahogany, floors and wainscoting are white marble. In the exchange room and the lobby there are ornamental plaster ceiling. The building la aa "L," auaae. built this way with a view to 'adding a wing when It shall be needed. There are three elevators with architectural provision tot a fourth. The stairway shaft Is shut off from the rest of the building at each floor by sieei aoors with wire rlasa No. I yellow corn, SMNflr. No. I yellow com, iht's. No. 1 white oorn. ir3c.. No. ft white cn-n. 6SV4jc. No. oats. KflrV. No. I oats. 7'tjMc. No. 4 oats. IRtjaflc No. t white oats, jaela No. I white oats, Xftftfflo, Standard oata, 4ptoo, Prteee est Patarea. v The range of prices for Omaha grain for future delivery sad the close Mon day were aa follows: Wheat Open. High. May ..76 76s July ..TO , 1 Corn May .......... 40 41 July son 4U ats Maroh M May 4SH Low. 7 TO 40 40tt Closa. T 714 ii2 40 m Hotea tVesa Bsehvaaaja Of fl The Inspections of grain In Omaha were: Bavantr-taree oars of oorn, eight of oats, two ef wheat and one car of barley, a total of eighty-six cars. Fifty nine cars of corn traded No. t. three graded No. S yellow, eleven graded No. Five ar ef oats graded No. 1 white and three cars No. 4. One car ot wheat No. 4 hard whiter and one car no grade. One car of barley gradsd No. 4. Concret TT7 e & nemeerm Co, OMAHA NATIONAL BANK BUILDING Consulting Engineers and Fireproofing Contractors for the New Omaha Grain Exchange IVJiiiLj 11 iLdll. 1.1 .Jtfd.JLd FORM Ilk T"7 ON A Construction Method Assuring the Builder of Maximum Efficiency, Accuracy and Economy Los Angeles DISTRICT OFFICES San Francisco Salt Lake City Chicago Cleveland Kansas City VILLAGE OF CHAGRES GETS INTO MILITARY RESERVATION (Correspondence of the Associated Preas.) PANAMA. Feb. H.-The ancient village of Charges, at the mouth of the river of the same name, will soon be depopu lated and the district converted into aa Amerlcaa military reservation and forti flcatioa as part of the canal defenses. The Inhabitants have received notice that they will have to remove to the east bank and near tne mouth of the laarta river, about eight miles beyond Um mouth ef the Chagrea Meyer Steelform Construction is Used Throughout Building The Concrete L'nglimerlng company of Omaha were consulting engineers for the architect and building committee in the design of structural steel frame, conorete floors snd foundstlons of the grsln ex change building. Owing to the nature of the soil. It was necessary to uae concrete pllea through out the entire foundation. The design of the structural steel frame in this build- Ing perhaps has nothing novel about it, except ss regarda ths uae of Meyer steel- form construction for ths floors, which formed a long span concrete Joist and thin Intervening slab construction for the floore and eliminated a great structural steel beams and girders ahlch would otherwise have been neceaaarv never aieeirorm construction In Itself Is very interesting In that It contemplates the uae of a removable steelform. which is reused in the successive floors of tho building. In sdlltion t.icy are handled on a rental besla, the Concrete Knglneer Ing company insulting snd removing the stselforms under the supervision of the engineer. Metal lath erected directly to the bot tom of the concrete Joists is used for cell Inge. This makes all the floors hi thla building, hollow and sound-proof, aa well as fireproof. . The Omsha Grain exchsngs Is said to be the moat efficiently and economically designed building of Ita also and claaa In Omaha, notwithstanding the fact that Meyer steelform construction and Ita at tendant economics hare been installed, by the Concrete Engineering company In per cant of the fireproof buildings here ia Omaha during the last year. This type cf eonstruetloa is being designed and la stalled by this company with great suo cess throughout the country, district of floea 'being maintained at Loe Angeles. en Francisco, Bait Lake City, Kansas City, Chicago aad Cleveland. s. II I I I as. XIII II W n f MEMBER CHICAGO BOARD OF TRADE OMAHA GRAIN EXCHANGE COMMISSION stocks iisro A m I C0TT0M CHICAGO PROVISIONS CORRESPONDENTS If a ' 11 1 11 11 NEW YORK MEMBERS OF New York Stock Exchange and All Principal Grain Exchanges Rooms 727-730 Omaha Grain Exchange. Phone Douglas 1388