, 1874-11-08

| T.. l.. QuuGfHotut y. = tA~e'E't
H. G. Ranues, $. II. I.art.'tnte,
F, F. EmcnduEl, l.. D. Merton,
.. C. II. field, C.M Henderson,
c. l.. Hill.
And have, after mature deliberation, decided
that tho prosecution have established th,t Mr
S.urscs has bc9n gully Of certain acta which thif
Board deem aad charge to bo uhcommorcla
| transactions; therefore,
This Board OF Directors bolieTo it to be thcll
| duty to present tho case to the members of the
| Board Of Trade for tEc;r consideration and &C.
t1on, under
TIE FOLLOWING CHARGES.
viz:
| Firsl-selline largo amounts OF corn, on Sept.
| 81, fur .tel,yo.y before } O'CLOCK that day,
| which corn he did not deliver according to the
terms Of his sale. while ho sreara that he did
| deliver much larger amount ct corn that day,
Which he claims to have sold At . later hous than
| tho above aud at from 10 20 81 cents per bushe!
below its actual value; and further, that
| lie has refused to pav or in any
wav acknowledge his liability for this actual
damages incurred by the purchasers of such
corn, by reason OF his failure to to fulill EiA
con.rac:s, thus leaving the parties to whom be
had sold such pro2arty without remedy, except
oy tue acto,s Of tha Doard or the diatory pro-
| ccsscs Of law.
Secomi-Esfusing to adjust his unlisoutod
| aud natured contracts for the Falo, By himself,
OF largo quantities OF corn at sellers option dur
ing September last, and refusing to Tolease mar
| gins deposited to secare tho fuliliment OF such
! contracts.
Third Making purchase of pro1erty at fcti-
tlona PRICES. largely above the real value IN tho
market OF such property. for tho evident pur-
pose OF cxiortny excessive money damages
from those With whom Lo had maturing contracts !:
and also making sac5. or alleged sales, OF prop
erty ut far below l1s real value In the market for
+ 10 evident purpose OF seeking to avoit the Pay
ment of Just damages to those with whom he
had matured aud uudispused, but unfulhlled.
cont; acts.
fourth h-Refusine to be governed by the rules
Of the Association, and
DENYING IT'S IURrsDIcTroN
over him as member. as witness the following
document signed ny him, and submitted to this
Baari Of Directors on the 23th day OF Septem-
Der last:
To he President and Direesors W the Board ef Trade,
Chsrges against me being now pending before your
honorable body, Ea1de by D. Il. Denton Co.. and an
application to be heard by counsel having been
fused beg leavn to mike the following rpvocatons,
and cnscr the following oh e,tiols and protests:
1any th Il have fsttod to comply with. or TO fuhlf.
any Wild o. binding ri Of tne OF rbi-
trltan or COMMITTEES Of Appcas- deny that the pre-
tended award referred to in tho complaint under con.
sd:ra.ioa made ia conformity with the rules Of
thc Association with the rules OF law, and an ad-
ri.ed by my attorneys that have legal and
under consideration in good fah and becauss have
daniel, and still do cgny, tho yaldisy ct the award
upon Theh tne ~ Is h Ia naFe copsse
t1on Of the complaint now before You will involve the
determination by yon Of variety Of Questions both
Of law and fact and hcss questions am advised by
attorncSa you have no jurisdiction to Try and de-
tcFminc.
deny the right OF the Directors Of tho Board ot
Trade to da:lle whether hare failed 10 comply With
or to full any award, or 10 suspend ms from men-
bersh1p because Of any surh alleged failure; and
hereby withdraw and revoke all supposed submissions
or powers Of azttrating deciding upon any ques-
ton involved in the charges now pending against me
which may DO supposed TO be conferred upon ruur
hpr1er 1.f . hv tn
laws Of the Board Of Trade Or spulations ssned BY
the members thereof.
30 4rd OF Trade, under their charter and the law Of
the land and hereby protest against their assuming
from membership in said Board Of Trade. I insist
that any charges arc prnfcrred against me which n
volyc my di-fr-nchsement such cAsrges must be
heard and determine in legal and proper manner by
the whole body of the board Of Trade; and, u snch
charges grow out Of contracts or commercial 1abl-
charging any Indebtedness tho validity Of such con-
tracts and the nature aud amount of such indented-
must be fst found and determined BY tho legal
" constituted courts Of the State.
I deny tho validity Of any rifle OF bylaw Of the
Board OF Trade which undertakes to confer upon Jour
e from Membership Of said Doald of Trade fo4 any
alleged failure to comply With or fnla any award Of
The IF he oalS Of .:
the appropriate remedy in case Of such failure by an
appeal to The courts, where tho validity aud binding
ternine1 BY tbs cgasiyconstituted tribunals. insot
that tie remedy provided by the charter is the
proper remedy, and that any bylaw which provides
that which the Legislature has seen ht 10 provide.
is nnreasonati. and contrary 70 the charter Of
the corporation. also insist inst, If tho power sought
to be conferred BY the fule exists anywhere II IL rest
ed in the whole body OF tue Board Of Trade, and can
NOT bo lawfully delegated to tho Board Of Direoso1s
Insist that IL your honorable body hare jurisdic
ton and authority to hear aud determine tho charges
now before you. your honorable BOAR, IS now con
stuted and convened for the pu1pose OF hearing said
complaint and hereby enter mJ protest against -FOUR
honorable body now constituted aud convened, pro-
gressing with tho hearing Of sAd compliant
also protect against your honorable body entertain
ing said complaint compelling mo to contest the
same before you. because Jou have no power to sub
you or administer oahs in this proceeding, and be-
cauac advised by my attorneys that IN case Of
false testimony being gven before you, perjury could
net be assigned thereon, nor could any witnesses DO
punished for giving such fAiae testimony.
also ooec. to the form and Substance ct tho COM
uatnt upon which 1t Ia sought to dsfranchise me,
too general aud indefinite and a. wholly unBufc!ent
to constitute the oaaa Of proceeding SO summary In
its character.
also reserve to myself each and ere1y objection
and exception which he made now or hereafter TO
any Of the proceedings sore you in thi. matter.
In connection with the foregoing objections, pro-
tests aud reyocaons. wish to sate TIM: dsny Jour
jurisdiction, among other things, to decide upon sha
validity Of the awa7d which II Is alleged that have
validity and OF my liability passed upon By the
claim that ii this question f. submitted, Judg
1nent viii be rcnd red against me, nnd T. therefore,
beg leave to submit the fo.loHtnn proposition
evidence Of my good f+Ih in denying my liability and
your Jurisdiction. 1
propose to give bond with such surety and upon |
such terms your honorable body may direct,
fnsl Judgment which any court OF Law equity may
1endcr upon the alleged award. in any suit brou4h:
upoa The samo; Or will deposit With tho Treasurer