Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-21
SO active as yesterday and prices were
shodA1 frS3o Couno Ok 00O in,

The proposition to report the rule regu-
lating rates of commissions on speculative
transactions was submitted to ballot vote
of the members of the board of trade TO-
day and defeated. The vote stood S32
against and 1876 for. The solid men were
nearly a unit in favor of the continuance
of the rule, and cent commission must
be charged by brokers unless the commit
tee on revision of the rules ROW at work
may see fit to make some change, which is
not likely.
The cent break in corn which has TAX
en- place since Monday caused the suspen.
sion of the firm of Randall,
Bell & Co. to-day, grain and commission
firm, having its Office in the chamber of
commerce building. The concern was
bullish on the market all through the de-
cline of corn from sixty-four cents down
to forty Eight and one-half cents, the point
reached on Monday. Here it turned
about at the wrong moment, evidently be-
lieving that there was no hope in the
grain. The house at its lowest figures got
its customers and itself on the wrong side
again. After buying all the way down from
the sixties it began to sell after corn had
got into the forties. The result was the
firm was whipsawed. and lost both ways.
The liabilities are large, not less than
$4,000 no statement is, however, offered
by any member of the bursted concern.
The failure according to Mr.. Randall, is
a case of too much country custom. There
is a possibility of an immediate resump-
ton if certain of the customers who are
behind will perform their promises. The
failure caused a considerable ripple of ex-
element on the board. The GLOBE rep
resentative called on Mr.. Randall, the
senior member of the firm, and inquired
as to the truth of the report. He was
looking rather glum and said it was true
the firm had suspended. The firm, he
said, had been carrying large
amount of deals for customers
for some little time and that was the cause
of the failure.
''How was it, Mr.. Randall;" said the re-
porter, were you short on oats, or -'
''Long on corn" said he quietly and
sadly. 'We hope to have matters fixed up
in few days."
''Do you intend to resume?''
''The firm will be dissolved said Mr..
Randall. "You may say, he added, ''that
the firm had not speculated to the extent
of dollar.''
1t is estimated by parties outside that
one member of the firm has been engaged,
however, in speculations on his own pri-
vate account, but as to that Mr.. Randall
declined to say anything.
Some anxiety is felt by
the creditors of Sackett of Cleve-
land, O., formerly of Chicago, now a mem
Der of the board of trade of both cities.
He did commission business, and was for
time correspondent for Irwin, Orr & Co.
of this city, but recently that firm notified
its customers that it had severed all coz
nection with him. His Office in Cleveland
is now in the hands of constable. He
was last seen here on Saturday evening
last at the Owl club, and his friends claim
that his liabilities only amount to few
Thousand dollars, and that he will turn up
all right again in q short
time and make satisfactory explanation
of his absence. Mr.. Sackett is very we'll
,114o"44 a this city, and is d member OF The
Sackett family of Cranberry farm in Wis
consin. He is young man of some means
and has a host of friends in Cincinnati,
st. Louis, Cleveland, Chicago and Wiscon-
sin who would not fail to see him through
difficulty of not too serious a nature. AS
nearly as can be ascertained the missing
mans liabilities are not at all large, and
before anything is said or done which
would tend to reflect any upon Mr.. Sack
ett's character it would be we'll, perhaps, to
wait and see if he does not turn
up, as Mr.. Orr believes he will. The re-
porter ascertained that one of his acts
while in the city was to transfer his board
of trade membership. This would indicate
that he was raising money, and he has
gone to his relatives or friends for the
purpose of raising an additional sum with
which to meet the demands of his creditors
and close out his business.