, 1870-01-13
GRAIN RECEIPTS,
Efforts to Prevent Their Being Conn.
forfeited OF Duplicated.
Canferenee EetWeea the Buard Of Trade and
Warehe1statn.

It tas been extensively charged amouQ cia,p
dealers for sone tho that The Tetelpts ,ssaed by
the warehouse companies Of this city to. grain 1e-
ce1ved BY them on tho different fa1lfoada md by
caral had 10 aecu11ty aga!net beirg duplicated: !:
In other words. thas there WA NJ aecurty that
warehouse company did not Issue lts paper for
more Rratn than was exactly In their wn1rnoure
the overpans pa;er teirg. Of conrse, an object OF
specula1on. 1t may Be Mentioned, incidentally,
that the feeling In regard to this ma ter hts poaa
Ero,.ing for some years past Il swa. vsry strons
issue IL eorn dai1nG tho exlhtence Of corner 10
that E1aip, AND tos same thing has been co@.
feellpR Of insecurity would, probably, cot hays
teen 80 great, but for the fact that fraudulent
grain paper nns been extensively issued 10 Ne =
lstteE place etlrR 10 great about four N qoths
ago II 10 bril- Own The price Of wheat two or
tnIee pence per 100 ~ Ia consequence of the
unWil1ing1ess OF bu1ers to run the r1sk Of pxy1o0
Ior receipt Which might no, be honornd ~ the
grain called for on It's face And tne recent fuilrrn
q eSe large grain house In New Yo1t has bean
attributed 10 me purchase Of fraudulent paper.
Ihefe are tEo vays ia which this fraudulent
pepef may he Issued: The one Ia oy frsudrient
Warsnou. @ enen. Who tsue II for the!s ozn ad.
soulo re be'd guilty OF forgery, OF coufse tn.re
ate rev persons who naye thought it pos5ibie t1st
IN cvefseue Of recelpts EooId be made by ware.
hehten eb, bot there are D Rrrat many operators
that lAE1a qusatlties OF papers have been forged,
Ano Lave zen pasEed lrom hREd 70 hand sn1oug
sHo o. 1Gee uozen different opesatots without
1naly found lmposalble TO trace the frtud 70 its
1ng1nal &ouIct.
a number Of the leading members OF the Board
tion ltceuuy. AID, with view TO krrive At GONE
defLito attlnn. commit ee OF flve, consisting Of
RaISs{: n!lao aaa g. hPPss MGeq W.
Of TRADE, ~as appointed BY kne Directors, for sbe
phlpose Of conie,rtuz with tie elevator men, to
aecnIe 4 po.aloe. their CO operation IN plan for
tie eitanlishnens OF . rrgtAtrT, uuoer the nnn-
AQene1t OF the board, Of ali grain receipts Issued
y tina elevators y was so9gested, a!tnougn no
Eould endorse Al. warehouse rccetpts, would
Prove Of great aatista"ce n plepenutg IN over
ss ue, In ottcoVeErg counterte.ts, aba would pro-
duce economy IN working the bustuee1.
The committee beld meeting yesterday alter
noon In tht once Of the Secretary OF the Beard OF
Trade, which uAa asteudt by most OF the prpmI-
enr representing the elevator interc.t we're
ard J. ". Preston.
Mr ]. II. Richards stated fully the object 10.
islJ fhn public, Il pofs'o!e. that spy impression
that house receipts we1e lss1ed for grain not
tba, q feast1J u these Iecsips4 would lave lde
. rect OF giving them greater cur7crcy q.
Aitaace than they Do* had, and might be
70 hen all warehouse receipts would bc sent
eacn Gay for reRtster AND delivery, and to which
act one o. the railroads Houid send their freight
b.e, and their Cas1lt rs TO cGlltct the-say three
Or -FOUR hours each day-weIe tue ptiL c pat poiots
t. the plan Wtt:1 the co1nn tstee desire to mature
= ith the COOPERATION II the clesoto1s Sach
plan, u VAS suggested, Would be great saving Of
!sboT. tlIue aid eIpeL ke IN the deA4 OF couduc;-
leg bu.iEess. Mr. Richards detired to Know
whether the elevator taeu wiling to assist IN
tne l6eA OF teshirE p.sn That would bc pract-
cal. and whether tnes would CO operate 10 fne ex-
tent OF not oelvefing grA1n except on registered
recetp'9.
An Informal dtfcus7on took rlace, and various
ohjtctloI were suggested md coustdeIed. the
IT, satoIueu seemed to be favorable 10 the
schere but the declined to give any decided ex-
1tes tlob Of their consent or di@aPprovA uutl tue
,otur: ittee hsd more fully na'nred some plau.
soEDtttee OF three, copsetiuR Of Meaar1.
antnfeJ. Allar. and R2nneJ. was nppolated to
srcpAEe plan to he eupnlrtsd at q future
lfeurK.
The committee then adlou1ed.