Daily Republican., 1881-10-14
GRAlh CORN E1s.

A Chicago Judge Charges the
Grand Jury Against Grain Gam.
blers.
CHICAGO, Oct 12.-In the Criminal
Cou.t today Judge Jameson, in his
charge to the Grand Jury, called the
attention to that portion Of tho revised
statutes of Illinois imposing fines and
penalties upon whatsoever contracts to
have or give to himself or anv other the
option TO sell or buy at a future time
any grain or other colu modify, stock Of
any railroad or other company, or gold,
or foresrall the market by spreading
false rumors to influence the price Of
commodities therein, or corners the
market " attempts TO do so in relation
to any of slch conmo iities.
In explanation Judge Jameson said
| that the statues denounced three sepa.
| rate mlsdeneanors--the sale OF options,
forestalling the market and cOrnering
the market. All these either in name
or spirit, have been always interdicted
by common law, and that of torestalling
was at a very early day made punish
able in England by statue. The first
Offer CO IS the illegal sale of options for
future delivery of grain and other com
modities. The fact that property sold
to b. delivered at future day does not
make contract illegal, or that it is not
at the time possessed or owned by the
seller, or that the time of its delivery
is left within its limits optional with
the buyer or seller, though in one
sense any such sale is sale OF an Op-
ton apparently within the statue.
What makes it gambling contract is
the intent Of the parties that there shall
not be- a delivery of the commodity sold,
but payment of differences by tho
party losing upon the rise or fall of the
market. or this intent the jury are to
be- the judges, and it may be inferred
directly from the terms of the contract
or indirectly from the course Of dealing
OF the parties
The offence Of forestalling has beer
narrowed by the statue so that it
covers only forestalling the market by
spreading false runlors to influence the
prices of commodities therein. The ob.
vious purpose ofthe Legislature in max
ing this provision was to protect the
neOple-:he consumers as well as innO-
cent traders-f'rom the damage result.
ing from unnatural and fictitious tluc-
tations of prices brought about by the
false suggestions of the interested per-
sOns.
A Corner" the Judge described as
the process of driving nnsuspecting
dealers In grains, stock and The like
into corral and relieving them of
their purses. The essence OF the
offence consists IN the party securing a
contract for future delivery of,ome COM
modify at his option, and then by
engrossing the stock OF such com'nod-
i'y in market making it impossible
for the othe, party to complete his con-
.ract hut by purchasing of his adver
sary at his own price, or paying in cash
the difference fixed by such adve. sary
The in 'ge concluded: As was said
of another great wrong: "lf this is not
wrong then nothing is wrong Pub
lie rurnor on the stree, and III the press
jCStifle5 me in saying that these Of
fences are rife among US, and III ask.
ing you, if evidence to that effect
should reach you, to make them sub
leCb Vi lEu',llS, y'ut hh'y "uh ibAho
is plain. However powerful! the COmbi-
nation to defy the laws, and however
difficult to detect and punish the
we rank Ourselves with the |
If W" fail to hr ng the terror, |
Dt the law 10 bear upon him."
Tn Judge added CHAT it was not the
duty ot til. jury to seek irquislorlally |
for evidences that crimes hau beet com.
mitJed, but that should such evidence
reach them through regular channels,
'heir duty will be to consider it aud
ttarlessly and promptly vinliclte the
law,