, 1881-09-18
ON 'CHANGE.
A Petty Victim of the August
Deal Begs for, Relief.
The Proposed Plan for Making De-
iveries-Many Think It I'M
practicable.

practicable.
| 4 robust souoal was heard yesterday from D.
| C. Brady II loser in the August wheat corner,
| who filed bill III tho Circuit Court agninst
Gregg, Sou s. Co., Culver & Co.. Wiinm Young
| s. Co., William E. McHenry, and tho Chicago
| Board Of Trade, to prevent the .Enynicnt Of
| some margins he had put up. It appears that
| on the 29th of July he sold 5000 bushels OF
/ August wheat to Culver s. Co.. through his
agents, Gregg, Son s. Co.. for $l.l9ii per bushel.
| and on the 10th Of August 5000 bushels moro
| Of the saule valuable commodity to William
| Young l. Co. for Si.34H a bushel. Wheat took
| IN upward turn, aud Brady was compelled to
| put UP 1850 margins. \ short time before this
| William Young s. Co. sold to William E. Me-
Henry 500 bushels of August wheat at SILK.
| and some time IL july Culver s. Co. sold Nc
| Henry 5000 bushels Of August wheat at $l.16.
| These two firms now require according to the
| usual practice, that those deals between them
and McIicury. and them and Brndy, shall be set
| tied dit ectly with Mct1enry. brady, however.
complains that Mcflenry aud big associates cor.
ncrcd the market on August Whcut, forcing 1t
! up to $l.38 Il bushei. and thus
PREVENTED COMPLAINANT FROM FILLING
| Ills CONTRACTS
except BY paying price greatly in excess Of tho
true 1nnrltct value. und WILL IN fact cost MIN
The President Of the Board Of Trade, at tho
instuncc or IL: O. Kenyon y Co., appolnted S H.
more, and .. D. Allen committee to tlx the
price for the settlcu'en. Of these contracts ana
hs as IS camoS Sm withou' %iInss
fixed it at sl.;s. Brady fqrther claims that that
none Of them elected to declare the contracts
forfeited. nor have they bought lit the wtcut on
the rket to protect nor orc m the
| dny0 maturity Of the contracts, SO that legally
he is not bounl to settle 1T .$l.:S: The Arh!tra-
stance of tho corncring parties. aud made their
! decision on fictitious claim, without supartiAl-
| ly inquirlng into the matter. II thus scets that
| the board does not intend to prevent corners,
| but h,ss continued to defend the cnforccmcntof
| statute by ingenious restrictions anu require
ad te the eon1isq 5is nric acte ~ = cor
III face of tho notorious fact that ftcr the hour
Of delivery on the 3lst of August the same
whcMt would 1:be sold ut over Sl335 bushel,
| bciore it had been selling at S14O. Complainant
has offered to settle at Si:0 to avoid litgation
Of which be was one Of the victims,
So coneuSiys that thu ra4 be fa 5sed IL -
ulso falls buck on tho statute coininOnly called
| tho Baby act, and asked that tho defendants
may he restrained from enforcing the contracts
against him Or from paying over the margins
he put up.
| THE NEw PLAN FOR MAKING DELIVERIES
The committee OF the Board Of Trado which
| wins appointed to deyise new plnn for making
deliveries Of grain and provisions submitted i
report, which was circulated yesterday.
Briefly. it proposes thnt Ill deliveries Of grain
| the Exchange Hall between l::D and 2:l3 p ~.
by notice III writing. which shall state the oilico
| Of tho party issuing it. This notice shall srnte
| in aetail The warehouse receipts. the contract
price, and the net cash value Ut tho property nj
| that price This notice may pass from one 10
nl,otner till ~. H., the seller iudorsing thereon
tho nu1ue OF tile party receiving il. the c1ntr;tct
| price. uud the time tho delivery Is made. The
iirst delivery Of the notice shalt be n.de before
than five minutes shall nor DO permitted
10 deliver II. AL these notices aro 70
| issuing them. Notices. of readiness to
deliver propcrty, and all subsequent srtnsfers'of
such shall be considered !, sufficient tender Ut
vided the stuff is actually y<icirered Or Is shown
| to have beer reuiy for delivery. The party
1t the oilipc OF the issuer before .45 p. OF
the same day and pay tue net amount due on it
lis shown BY tho price h.st in'iorset AL differ
! livery. cach purchaser receiving notice
| shall bc responsible ,to the seller for tho
syhcu the difference fuvors the buyer. The d!f-'
| ferrnces arc payable Oh the delivery aud pay
mcnt fur tho actual property. in case tho prop,
paid fpr, provided by tho rule 1t may be held
| by the ssuer ut the expense Of the party whom
il may concern fur storage, interest," etc. until
=
it shall be sold tn open nlar6et OF It may be sUa
| between y:iU H.. IN. and II O'clock OF the next
| b,lsiness-tl,ly, Notice OF the default Is to bo
| given those who had received delivery notice.
The expenses nnd risk OF CARRYING property
! defaulteh on including u commission Ut one
quarter Of cent pvr b,.shel on grain, and one
ul,ur1eru uf per cent the market value OF
provisions, sllall be payable to tho party who
makes thu resale by tue one who bought 1t of
him hc 10 be Reimbursed 0y the next one who
received i!otice OF delivery, 'Qlld SO on till the
party in deinutt is reached, who finally pays 1t.
Eirp,tI t11, ham, nr1f kas
hill frOM 1851 to 2:i5 p m. and Will nt denied Au
mission after ~ II the buyer should be absent
from the eNchauge null. ni4t thus prevent Il de-
livery to him, the party intending to make the
same may sell out tho property under tho snne
provisions rs III case of default. but the ab-
sentec must have notice III writing that tEu
property wns rcady tor delivery prior to its SALE
lT member has given lIDtiee that be IS ready
to deliver property which he did not have Ut the
time he disguised OF afterwards, refused to
deliver wtru it was demanded utldtr the rule,
then he Shall be deemed guilty OF fraud, and
may be suspended or expelled.
The committee report i'll writing that they
did not see tit to change the 1nnnner OF making
deliveries up to II O'Clock. but urged tho atlop
tusl Ut the custom OF making immediate lmy-
uent for property when delivered i'll the morn
tny, They cluM tho plan for afternoon ,teltt-
cries will dispense with the present risks anu
trouble, put tue cxtrn storage where it belongs,
and savc time, only forty-ttre minutes being re-
luret tn do the work. The syStcul of delivery
by notice Is, they say, without legal Objectip
\ delivery notice blank ncconp panics tho
port
4 member Of the board stated yesterday that
he thought the proposed plan WIS too colnpli-
cut4l, and would prs.ve ssnusncticable.
TEMPERANCE VERSUS TEET0TAllSM.
10 the Ed.tor " The Chicago Tribune.
Etlrt' II .-Naf.f,t,tr uF m 1n1