The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-08-11
"CoRNERs."

Aud Especially that on Oals-The
Rage for Grain Gambling In Chi.
cage.
From the Chicago Tribune
That corn and oats, the staple OF tho
country, should vary in price moro than
twenty-five cents bushel in one day
without q panic, famine, or any unusual
disturbance in the law Of supply and de-
mand, issomething that the average pro-
Queer and consumer will find it difficult
to understand. It Is much easier OF com.
pEehension that watered stocks, msnipu-
lated by rings, should be forced up and
down at the pleasure OF the bulls and
bears. But here are breadstufs, the prob.
able supply Of which can be readily esti-
mated, as well as the demand, and, after
these estimates are fairly made up, the
legitimate price can only DO materially
affected by notable revulslons which have
not occurred or been threatened in the
present case. The scenes on the Board
OF Trade yesterday are, therefore, the
most remarkable evidences that can be
furnished Of the power Of the gambling
mania, which In former times once ex-
tended to tulips, and might be equally ex.
tended to turnipS. When men want to
gamble they ind way to do 1t, and
some win and others lose. SO far there Is
no particular sympathy to be expressed
tor the losers, who went Into .he "deap
with their eyes open.
There have probably b. lew "tnno.
cent" purchasers at the exaggerated pri.
Ces, and the innocent sellers-the farm.
eFa-have received several cents moro Tor
their grain than they would have received
il there had been no "corner." This does
not excuse tho gambling, and the uld.
mate effect on the legitimate buyers and
sellers Is just as deleterious as II the re.
verse had been the case. The "corner"
happened 10 be successful, and some Of
the producers have enjoyed a temporary
benefit which must be dearly paid for,
under the general law OF compensation,
in the results oil an unnatural disturbance
OF our legitimate markets. .-
There can be no species Of gambling,
however, which ia not tainted with fraud,
aud the present instance does not seem to
DO an exception TO the rule. 1t is stated
that the managers Of the "corner" bought
Of and sold 10 the same men with the pur.
pose, subsequently, carried out, of making
their delivery 80 close 10 the hour ofthree,
the closing Of trade, that the purchasers
would not have time 10 deliver back, and
would therefore be obliged to settle.
Hencelorth tho Board oil Trade men must
provide themselves with watches having
independent second hands, such as the
turtles and jockeys carry. Trading has
been reduced to so fine q point that q
quarter ola minute may cost man thou.
sands.
The trick was one entirely worthy Of
professional gamblers, and we do not
know whether the professional gamblers
on the other side, who were caught BY It.
have much right 10 complain; but the
general interests Of commercial morality
must undoubtedly suffer from II. The
books have not yet been posted, 80 as to
show the money actually made and lost,
but no failures are reported. There will
probably be o good many disputes, and
there may be an appeal to the courts be-
lore the "dea" Is fairly closed and all the
money paid over. But, for the present,
The only conclusion Of any general public
interest Is that the attempt by tho last
Legislature to putR stop 10 gambling on
inc Board Of Trade was an abortion, or
that the law passed to that end Is not en-.
forced as 1t should be.