, 1875-03-24
THE BOARD Of TRADE.
Why President Armour rendered
His Resignation.
Rules which He Found 1t Difficult to
Enforce.
]lo Ii Induced to Withdraw. Ills Letter


o. " L.
roctory, hsd rcsianad. created somo astonlall.
s.,t -, H., ,.tt,5~s,..t ~ H., fo,n,or rms I'M,
lnsn'' ~ .'s ".'ao'a"a' =. 'uo - aao,r.a, tor
anticipated anu eoula not 10 aecouns'o 4ot
se1 s Tr m es't'1" s til .s sy i @
rulos rocontjv adontcJ. ths impression boing .lai
49, .. S.r.ss .s.s.,s1 t.aro o,,,,o,,, h rarryno
sao WV u'AsoAo na1Ao1 =. 1s,a,., H.. 49,
shosn out' no QUO appearing ~ Rno" 'no fea'
ieseonB assigned for Withdrawing
4 Tn1nusE reporter wnH directed to trnce the
.,r,rts and learn If tt,oy had nnv fouu1ntion.
aep. -, lin rro,cr o,,ar,or. .oon os,.,,,
."o .''!n.' " r..; ~ ..o.,.
llshed their truthtuIncss. lilo TWO designations,
however, had no connection With each other
TINT Of Mr. Yhocler having been handed to The
1,n,rd ~ DIrertora tan t,aye arm wbtc lin. of
~. .u,,,,,- ,r, ,,,o.o1 t., ;,'o;~ ,,,d. u,,,d.r
''s' A''''9'A ""' ,s w ,rrr;,, ~ ' 49,
hh. WHEELER
Tho former ghso al his reason for declining to
LONGER hold tho ofllcc "want Of limo to attend
n thc dutics.n In had. In aoi1 ecccntcd thc
homlna'loa ""u te'ac'aaco' ano o"'y upon
conat'Gn, II olcsteo. that no shoala po
allowed 10 resign whenever ho 1onha the work -,
encloasncn ~ .nSn upon nsn '.a uu9'inss. j.; anv
pressure Aan oeGoino onciuus' alo. III "scotu.
1cs!rnation, md desired to have it accepted
LII his letter to thu Bonrd,
raw. tho rorno reunroi roosnn nnd. IL Il. .tso nm.
IsnJ a~xshsn H., I;"natt - ~ "11U ~ ~ ~
aele.oUa eap'sasca a .,sa ~ smo y
tho now tuich on accontis or tnclr imposing ha'
dlllcna! resroHelb1litieB upon hin, anu re9uir-
,nE 10 tnuen ol us t,lno ~ ~ !ea4e nlan ii
int'o 10 uesoso ~ Als pas'ncfs' ~ WAS
kno"h En- tnas no eonteapiiatses iasa starting
ior Gnlopo III Mef. !nsenuS ~
shas az % elee!'qn LOT nTc ufcetoaa M ~ to 1ako
piaeo Friday, ~ waa ne!leeoa " many tna1 no
EuiAeu u'on .no ~ eag!t 80 hgUa W
H. se toh % from 1 w soao,n anu alow tne
rant Whe y, l.as no eoneaitson ~, Of whas asco.l'
panlos tlie Nonof a1tacnco 10 LUZ lnlFottant Po-
e'iio,,. y III, t., xs,nor,,,rod ,hat s,r arnorr
VIII pe fe1neu,ueIeo that Mt. armour WIS
the nomlnat!ot, % IT, ana aeseptsa rf,y 4n'y Mo Or
t!1tee days oolo.o inc e!ection. LIS pfie4 ex-
pcteco nuomvu nla WA Up nu,es W .uo o!iigo
Nou'q tahc Iote " n.h t"Ile LINN w antlc1'
tiglteued, rather than loosoned, the
yoke. lionco, In viow Of Ills proposed trip, lie
came to tho conelusion that it wolll,bo bctter to
rtfilrnr '"
r,,r onyox,or. nrrra :.
Tho f,rs. rnIo wnsl tIs it f. aaid % i. obpoxon, IN
hlnl III as follows:
IL shall bo tho duty Of tho Prestdent 10 nrcscrYe
prcr aud t,rorer Iuacss tccpr1n III tic Exyna,1ro
rooms Of tho Association dusiuR all business Au,,zs
,nd ns sha hays IoTer 70 .s1n'ury t'ne any nacns-
r "nu nus ~ ne ot a1 e posefous
,,t,ci IN ia rcn,ns n .mIn rot - ,.c.it, a. ~.
c4ch and every oticrlso; aud any cIer iii, t1,.rj
.ha npon re!atsl to ]ny tho .sc, be excluded from
lapald.
Az 10 we'll known. Mr, Armour Ia 4 conscfnn-
tious 6cutch gentleman, and ho interpreted tue
first norson Of this rule literally iuaRtpiur .llpt
hc was roouircd to bo on 'CAauEc duyInn buAi-
noss hours, aud pusoua!ly SEQ ihat tllcle we're
no brcacl,cs Of dccorutn, il IL stated. ntYo TINT
ha doultcd bis legal right to asseps and collect
tho iuca fur trn1lsgrcysiuns. mud went 80 far nB
Ia consult an attcfi,ev aA Is tho liability NJ shr
known, but that secured by the Committee On
Ncytiou was that, Under tic charter Of ti,o IN.
stitntlon. tho fines could be legally imposed and
COLLECTED.
regarded es objectionable 10 Mr, Armour in that
suIfoiued;
Any ncmter Of tho Asroc.a.lon vito shall make any
Inle o. option rao In grain before g o'clock d. ,.
after o'c!ock D. m. and nny mclnner who shall
mako any sact trado Oh any slay part ot any day.
upon Which ths :: Association shall hold ~ hasnsfa
ss tau +; tSse'or a', e 10 sama,X aned " ths
tyery s,,,,, ARENA ami sny nnns nceicc,,n ~ * ~
ia-1s ID Iay esy suel, sne sSali E. s s'ispendea M
la!d but 10 trade Or Contract WHEN thus nsa.la a.al
f'r T., aAa' cauao' 10 treated "a invalid.
roIar Ia rug was adoPtea to pns a. ena TO- r.
thcso On tho "fagScd edge of tho BOARD
fcalpeEH,-whn would come down carly in tho
morning ana 20 nome late at night !us order to
1naRo Gu ksauos 1lieir presence IN tic cot
1itiors and On the "ottoet" before and aftor
tho Ieguluar, hours REQUIRED notice on tho
rnEt or otllco.mcn aud tltGtr cictks for,
however tnstgnihcant tfletr deats, thDy might
'once in a while get pfiyato information which
~ould bull Or bear tue market, and, unloas post
GU ls 10 what waa going OH, heavier dealers
would 10 unable to Protect themselves. Various
attempts wcEe mado to break up thiA outbde
trad1uB. tho deala welo outlaNcd. and policemen
weto brought In to dlnporso the crowd, but with
put avail. Tho ralo giyon above was suggested
by a scaipcr." who became tired Of spending
ell Day aud half tho night around tho Exchange
building: It has effectua1ly atoppcd ths busi-
nc.s and Tho beat part Of tho npoculatota would,
Il in claimed. be opposed to tss Rbzoghtion.
Mr. Armour's objection to II IL sal! 10 bo not
- to its enforcement, but D lack OF authority On
hls part to gather In tue tiues IL imposed.
TIE nInEc1ons.
His resignation. giving his reasons for tho
step, was, as stated aboyo put into tho bands OF
the Directors Monday afternoon. A lucoting
WAS Immediately called, and 1t was unanimously
resolved that, ~ AL iuduceDlont to retonsideEa-
kAeis united aCfurta TO soonro ths TnnenI
of tho obnoxious naics, so that Mr.
Armour TpuI4 bp TclfoyCa Of tho Ueceh.