, 1870-05-20
Commercial Telegraph Dispatches.

"North wtnls for past three days damaged
crop or this State. Market strong"
The abovo despatch, received On 'Chango-to-
up the wheat market in this city nearly Sc, ia
: 'se face Of lower markets in Liverpool and
1t came through semi-official,
sss@ mi.ppiyste, tpfa ssm,-r u-b'io medium Which
about seventy members OF tho pv.-s "a -s.rs
hare supported, under protest, for so1ce -,
past.
1t is scarcely worth while to inquire What
grounds there were for the sending Of such =
despatch; it has been beloved for come time
damaged by tho drought, and viii only yield
from one-thira to one-half OF tho crop cx-
pected in 1870. But the reasons for sending
il were extensively canvassed on Change, and
the cry which las been 40 often raised in the
past was repeatel-that the ostensiblo mana
this despatch came is n speculator in grain, and
uses the wires to sway the market up or down,
as best suits his Own ends. Ono COM
mission merchant charged openly. in the 1res-
ence of witnesses, that ths said manager owes
him over $500 for work dono and service. per-
form formed @ Il buiying ig and selling grain and offers
On more general principles. AL seemed to dis
believe the despatch in question, or to think
that tho north wind was no worse than tho east
or any other wind; but the market went up,
Notwithstanding, and Thousands Of dollars
were gained or lost through the information
We have nothing to do with the truth OF fall
sity Of these charges; we simply chronicle the
fact that they were made openly, as similar
charges have oftcn.be made in the hearing
Of The IRnTEE reporter on the floor OF |
Change in time past. We may, however, be |
permitted to suggest to those members pro
Tossing to feel agg1ioycd, that the remedy is
simple one. II they can prove, beyond a rea-
sonab!o donbt. that any person concerned; in !
Furnishing their reports from other points is /
IN tho habit Of specu1ating on his Iuwu ac-
:ount, they will thon be justified in believing |
hat tho information go furnished ia untrust-
worthy, and can act accordingly. But no nero
fancy should be allowed to operate to the dis
:redit Of my onc- Proof should be required;
+ that proof cannot be furnished, the assar-
ion should DO treated as base slantlar. IL
lie proof can DO Furnished, then the best way
III be to stop taking tho suspected dispatches
IL such arrangements are made as
wi has been nboliahcd.
Indeed, it seems to be the opinion OF many
# the Oldest and best posted membars of the
'oard that tho system of half private and
public dispatches Is totally
ako them. The Board Of Trsde, il its corpo-
ate capacity, could very wou afford to pay tor l.
able dispatches from Liverpool, one each
ay, and one OF ttEo additional reports frouf
lew York, should snch be necessary. The
zpense to individual members would be but +.
mall, md all would then be placed on
@ no supplying Of information to
70 or three men ten minutes in advance OF !
lc time when the general mass obtains them,
nd there would be no keeping back Of tele-
rams foz hall 81 hour or IN hour while one
ian can operate on the strength of the infor-
pfnSr r,F |
. the board who assert that they k7.oso such
lings to have been done in tho past; tnare
e fer who are anxious that it shall be done
the future.