, 1874-11-22

miserable aud unrnarcantila mess - ;.
scarcely be questioned. More s7s.a " It ,Rll
gwen to this charge than it Saaerraa a1 oeaa
seema NECESSARY. IN order 10 diract atts..nesl nes i
taa roA1 polnt at issue, aud On this nan. uaaa Z
tnan snT other 1t is sought to mystifT ths o!s
mind Let It ba npderstood that ks s,s s.s pa5(a
not arraigned for running "cornar.ss ss'o.gsak
llvering property ju4t before ocIoci. ~. ~ "a
refusing tomAke settlements Of ontst*na, 4os ID
tracts, but simply and ou1y. 80 a. 90
charge ls concerned, for making : hco,%144 ~ |ac(
and endaavosing to extott mouey npcn H. nad
OF that trade. f'3 20 nasa
TIE NEXT cHlAaA
IN the order Of the date OF the trsna,et;na
p4 . certain paper submitted b7 hrs :. sess
Board OF Directors on Sept Is. and ~. p tk
printed both in the charge itseIf .asIa .asas
Alr. Sturges in his pamphlet. IN III. ssa b
ment be- virtually repudtataa tha >4.s ~, aoea
the Board, and spita upon tia saas u%es
authority granted the Board Of Direet
cases Of complaint against members. fheM IL W
atty and propzsety OF such rnis "a II. asSa aeSs
peeks TO DEFY has beea PASSED upon b, hsss .st q
Ways beap Sustained. u seems ho and ,aaa aaa u
mamner Qf the Board had DISAGREEMENT 1;4aqe'
gard to CERTAIN transaction, tho T6eJs @Mss M
resting on the tho terrna OF q Certain T.. P%u
tween them. The oase vas voluntarily suhe%.soEe. oe
to tha Committee Of Arbitration, lad ts4 .n,'
4ueptly 10 the Computes Of Appeals snd dI1s Ssas
cowpittees decided against IL. stufpes. Wy
also AppeaEa that, pending these procss5;;ral prss;
the same parties had another trausattior tisotas1 s
ing in balance due to N.Y. st1rgea Of alsass III
it. This money Waa, in5tead Of beine held - .
Offset Tor ths claim on Mr. s. OF S1.275 My
him On the express agreement on his part Es.tSs
wou}d promptly pay any award that 'the rrrssssaa
tees might lind against him On tia nrs.,aa. uss
trana.cston- Tha awa1ds helng against hin
and, being cited before the Directors for sn,,..
sion under the rules OF the Board for nj IT
80, he throws IN their teeth the docunrsrt
felred to. It ia not question "a to Ehe,Ss. I.
had the legal right to make ANY suot r,o...4 y
revocation, denial, OF whatever it NAV ba rsfS1s
bpt rather whethee the noard will toIetaia sH'stt
itH members one vino seeks thus to Az II
rules,-rules, too that he himself had son.S, = =
protection Of IN several instances within ia =.
wseks immediately preceding. =.
alr. aturGea refused before the nirar.,,
to consent that the records .of 1.
committees SHOULD be received ~ sTf6,ges AZ ~
against blp, provided they wete preiudle,,s =
lis case, but he parades the eyidenca IN ,.' "
case in detail in his pamphlet With the s,a.,.
purpose Of seekipg to retry the menita ii tss
case hefnre the vhols Board. Il .s not psobs.
bio any considerable number Of men sho =,
1h1lulAT Will tuH FI4E8 UG EA8 Board Will YAn1s
any different verdict op the ev}dauea fsom ~,
the Committee did but the question il m, =,
!. 70 the correctness Of the award. Wika ,h,t u.
Committees to whom it was submitted bad to d
aad they only. TIE question now Nth tbs poa1
{, ia as to the attempt Of member to Qyerrida Il
rulea. II those rules can thus be get 1t non,t.
on the whim Of any mamber, thsu auraly t.s
Association will soon become . br-Fo1d il u.
commercial World, and nu.sancs in Tia qas
munity.
The ahoya may be- considered the minor ch,:rs
in the Indictment against Mr. stursas.
THE PRINCIPAL OH 80:
relates to the operations Of AT. stqTge3 il Ges.
tsmper, and ia placed tizss in order, wltl s.tte
ence 70 the same In the third specitca,ion~ c.
tainlY no member Of tbs .Doarl will claim TIT
these operations hava any precedent, tnl n
honorable merchant will claim that they hsns
aemblsaee Of deoesoy or conmelaiai !a&gny
about tuem. Unparalleled as were ths jul
transactions, those OF September faz. surpassed
them IN downright perfdy.
Il aaems that after mouths Of ops.zac4soa
tha purchasing side Of cora, aud when tsa s,oata
1emalulug bad become greatly red1ad. ta
turned aud sold largely for delivery ia set.r,-
Der, apparently With view Of specuiaing ftt /
decline. aud, according to hts ovnst.tenens ~
largely short OF corp, due ind delTarabjs q
Sapt. 80. Evidently with view Of h.esk.s
"R0% [+4S~
selling corn 70 be delivered that day before
o'clock At trihe under ehe iegituats mnket
which x&s about 80 cents per bns1aL Il &opessa
he sold in lots $50, 100 bushals at 6utu " to n
canta.. These lots vera
BOUGHT ii GOOD f41rH,
and in some Instances Tessels Were chartered Il
take the corn II Bu6alo. 0nly q, 600 busheIs d
this $50 300 bushels wsrs delivered at ali, md
tha Parties Were OBLIGED 70 repurchasa shn com
at loas. Immediately sftar thesa sales lie cea-
tlnued in the market, and pretended to IA
certain brokers, whom be apparently selected m
the pu1poaa, soua soc, ,00U bushels at mo.s 1t
corn at 60 to 10 cents, and he says be deuTefM
and got bis pay for thess later ealea: Hthls n
hue (Which probably no ona 1eltaTes}Abtu
operation Little il auYthing less than downright
stealing, a. Il ne delivered Il y u
r1ously sold On the eaifser sales. md co..
sequantly it was mot his property 10 I'll
HI had also large contracts for thu ss!a of cdm
maturing on Saft. 80, at least seTsrsl hundred
thousand bushels, Of which, 30 tn 1aca b
learned, not one hushel Was delYeted.. Fat tna
protection Of many OF ti1ese t,inS astes hs
claimed to have margins daposltaa ID shs Cocs
County. National Bank: He hae refused 70 ~
just, SO far ~ ia kuow0, any Of thess oonsaesaa
u to release any Of the margins deposited fos
their security. "
AL lbe abovs STATED operations b regard n
the September t1adss ara - :.
ENTIRELY NEW 90.
in tho grain trade, and are .of such cbaassg
as to utterly destroy all confidence in tssd!os
among members OF tlto Bo.n. That tber
we'll ~ the matters elsewhere refetred to u ths
charges, are highly nncommssclAl aod degzscs'
fol, will scarcely be questioned r.; :,
Now, will the Board Of Trade aet % lns cass
as becomes it rs an organization ealulnK g
have reputable commercial standing! In
said that many members ard 1namld.ted non
expressing their opinions, and fnayhs ton ~. aet
ing their honest convictions, from tao 1ea4 ~
balances dus them By S.u1ges may pc !oss =
Is expelled and that IN some Tax u ne u oel
cataly handled, theT may succeed u coanns
from him their just dues. Such m9y ~ Won "
darAtand that their insction ID liable to reaann
disgrace to themselves. The issue Gann1tH
shirked. If must be met. and the result Wluo q.
either credit OF dinarace to the o1eaolzss%@
Of which they are members. ..,Sa.,
No member Of the Boafa, whether inte1es@s 81
In the grain trade OF not, can AFFORD to % msa
fareut to the reanlt Of these proceedings ana
the credit Of the city, far and near, - msa," mss,
in tbs action taken By tile Board, every ma@'"
should be- sure to do biz whole duty: ..
On bahslf Of the Cou3mitseet =
a. II. WuaHr, Chairman.
CHICAGO, Nov. q, 1914 :.,'
HEAVEN. =; .*..; =:
Heaven IL mystery. The ptsce of Odd
AnuffsHt hn Hldr1a4 uf Eternity