, 1873-08-10
THE LATE WHEAT CORNER.
Chnnccry SHIT Arising Out OF the Sud.
don IgiAc In 1Vhcnt.-A Member OF tho
Board Of Trndc Sues kNls k2rOEker.

ChnncGry SHIT Af4Hlnf+ O0S OF inc Still.
don Isiso In Xvhcnt.-h Member OF tho
Board Of Frndo Sues knis 12rOlker.
Yesterday bill Of chnncory was filed in tho
Circuit Court by Lovi Hayes against Thomas ".
Hall, involving tito action of the latter, who waH
Hayes broker, in tho lato cornor in corn.
Hayes is commission merchant and member Of
tho Board of Trade in this city, aud on July
II, ho employed Hall to soil for him 10000
bushels Of No. spring wheat, to bo delivered
within tho curront month. Hall thon agreed to
soil this amount to William Young i Co. at
s1.1GiA per bushol. Tho bill further alleges
TINT, updor tho ru1cB Of tho Board OF Trade,
Hayes. or HAIL. as his brokor, had the right to
deliyor tic wheat to Young t. Co. at my time
during tho month, and to have tho agreod prico;
Young 4 Co. Ind tho right to dcmand tho do
livery on tho last day Of July, boforo tho close
Of busiuosB hours, and, In dofault OF delivery,
they might buy tho wheat tho next day ut tho
market price on Change, and demand from
Hayes or Hall tho difference betweon tho
agrool price ard the market price at the day
previous, or thoy might demand that Hayea
or Hall nhoul1 pay tho difference botween tho
last day Of July. Tho bin furthor
states that, aftcr tho contract had boon mnde,
William Young & Co. mado combination with
other peraona,. unknown to- tho complaint
uHL, hlu lIAMuu1CHIlS EUH6lliEt tbEGkutE 1QT IuD
purpose Of controlling the prico Of wheat aud
creating q dctitiouR price for that staple OFT tho
last day OF July, III order to compel those pnr-
eons with whom thoy had contracts for tho do
livery Of wheat in july, to,pay 9 fa}se and tlcti-
tious difference between tho prloe agreed upon
aud tho roal value Of whent on that day. 1t is
charged that by this combination aud conspiracy,
| Young 4 Co, rau up the price Of wheat to S1.40
per hushol, whereas, but for the conspiracy, tho
| price would not have exceeded 91.20 on tile last
| day OF tho mouth TINT thoro was no advance in
| other markets, and no legitimate advance hero,
nor any honest cause for tho advance beyond
s1.1G}a per bushel; that tie high price ut which
wheat was sold was so!oly the result Of fraulu-
forth that no part Of tho 10000 bnnhols in 9ues-
tion was delivered to Young l. Co. that HnyoH
Was not In Chicago on tho last day Of July, aud
that Young l. Co. demanded from Hall tho pny::
placed in Halls hands tho sum OF q 900 fol
"margins upon the contract. The difference
bctwcon. SLICK opor bnthel, and tho rnl: ~:
ing Pflss nSa }uy Sl "o4tGd Ha to tS2Ss I2
not only the 81, 600 placed III his hands, bu
91,375 additional md to charge tho lattor aum K
tho account Of Hayes. In Justification OF thl'
action, Hall etatoa TINT unless ho does MAXI
such payment aud settle tue ''1eal,' :. as it il
called, ho will be liahlo to expulsion from th'
Board Of Trade. Hayes states that lle ia in
formed by Hall that the fair and honest price o
wheat In this city on the Inst day Of July va
really not in excess Of s1.lGA per buahol. mn
rnachnations OF Young 4 Co.; that wheat Of til
grade and quality eollat from 81. .1C to z
per bushel aud that. therefore, ho has dlrecto
Hall not to sottle with Young i Co. at tho pric
lis % Account It, He I1o is II further informed BY la
TINT not only Young Il Go. but largo numbe
Of other commission merchants sold Mo- sprin
wheat for s1,194 to 51.16 per bushel. II