In October, 1877, the merchants of Sioux City met and formed the Merchants Exchange, and the following officers were elected for the year: President, J.M. Bacon; Vice President, L.C. Sanborn; Secretary, E.H. Bucknam; Treasurer, A.C. Davies; Directors, H.L. Warner, H.A. Jandt, E.W. Rice, F.L. Goewey.

During the year, the subject of cheap ferriage to Covington, the adjusting of railroad freights and the commercial interests of Sioux City in general, had the attention of the Exchange with marked success. They raised by voluntary subscriptions $1,929.60 during the year, and paid to secure cheap ferriage, $1,500.

In October, 1878, the following officers were elected for the year:
President, J.M. Bacon;
Vice President, E.C. Tompkins;
Secretary, E. W. Bucknam;
Directors, H.L. Warner, H.A. Handt, M.W. Murphy, S. Schulein, F.L. Goewey.

In October, 1879, the following officers were elected:
President, H.A. Jandt;
Vice President, M.W. Murphy,
Secretary, E.G. Burkam, Jr.,
Treasurer, A.C. Davis;
Directors, J.M. Bacon, William Tackaberry, F.L. Goewey, W.H. Livingston, G.H. Howell.

During the year, the Exchange, in addition to other important work, raised quite a boom for the Chicago, Milwaukee & St. Paul Railroad towards the purchase of depot grounds.

The officers elected October, 1879, held over until July, 1881, when the exchange was reorganized, the name changed to the Sioux City Board of Trade, its scope extended so as to include as eligible to membership all citizens of Sioux City and to embrace in its work the securing of manufactories.

During the first six months of the new organization, the Board of Trade has aided in securing for the city several important additions to its industrial and mercantile institutions, among which may be mentioned, a button factory, a chemical paint and color works, a branch of R.G. Dun & Co’s Commercial agency, Cummings, Smith & Co.’s large wholesale boot and shoe house, a branch of the Consolidated Oil Tank Line Company; a United States Express Company’s office, an iron pump factory, chemical works, increased telegraph facilities, and has in prospect a paper mill, a flax, twine and bagging mill, and several other industries.

Source:Woodbury County Iowa, History of Western Iowa, 1882