, 1881-10-29
A9ainzt Grain Gamblers.

At Chicago recently, Judge Jameson,
in his charge to the grand jury, called at
tention to that portion OF the re'iseu
statutes of Illinois imposing lines ana
penalties upon whoever contracts to nave
or give to himself, or 10 another the
option 10 sell or buy, at future ilihe'
any grain or other commodity, STOCK oi
any railroad or other company or gold' OF
fDrestalls the market by spreading false
rumors to influence the price OF eommod-
tiles therein, or corners the market, OF
attempts to do so, i'll relation to any one
If such commodities. \ "corner the
iudge.described as a process oi driving
unsuspecting dealers in grain, stock and
the Ike into a corral and relieving them
Of their purses. The essence OF the Of
fense consists i'll the party securing eol-
tract for futnre delivery of the same
commodity at this option, and then by
enrrossrng the stock Of snch eommodity
in the market, making it impossible for
the other party to complete his contract,
that by purchasing of his adversary at
his own price or paying in cash the diff
ference extracted by such adversary. As
We said Of another great wrong. II this Is
not wrong, then nothing is wrong. Pub
lie rumor on the street and in the press
iusrities me in saying that these otfrnses
are rife among rs, and in asking you If
evidence to that effect should reach you
to make them subject Of inquiry. Your
duty and mine is plain. However power
full the combination TO defy the law, and
however difficult to detect the crime, We
rank ours Ives with the criminals II We
fail 10 bring the terrors Of the law To bear
upcu them" He said that Il was not the
duty Of the jury to seek inquisitoriaily
for evidence that crimes had been com
mitted bnt should su:h evidence reach
them through regular channels, then
.hrir dniy will be to consider it, and fear
lessly and promptly vindlcate the law.
In explanation The judge said that the
statute denounced three separate misde-
meanors, the sale Of options, forestalling
the market and cornerIns the market
All these. either IN name or spirit, have
been always interdicted by common law,
and that Of forstalling was, at very early
day, made punishable in England by
statute. The offcnse is the Illegal sale OF
options for future delivery nf grain and
other commodities. The fact the property
is sold to be delivered at a future day
do, not make contract ILL gal or that
1t is not at the time of its delivery Is left
within fixed limits, options with buyer or
seller, though in one srnse any such sale
is sale Of an option apparently within
the sta.utc. What makes 1t a gambl-
ing contract is the interest of the parties
that there shall not DC a delivery of the
commodity, but a payment OF differences
by the party losing npon the rise or fall
If the market. OF this intent the jury
are to be the judges, and it may be in
ferrcd directly from the terms Of the enn-
tract or indirectly from the course of
dealing of sorters. The offense Of
" forcstaiiing has been narrowed by the
statutes that it covers only by forestalling
the market by spreading false rumors t"
influence prices therein. The purpose Of
the legislature in making this provision
was to protect the people, the consumers,
as well asinnocent traders sfrcmdamage re-
sulting from unnatural and fictitious
fluctuations of prices, brought about by
the false suggestions of interested persons