Daily globe., 1882-10-07

with the long berried red also Injuries that
for milling, and lessons its price. 1t was
stated that if this hard wheat be given
distinct grade and kept separate from the
othcrs, market for it would start here
sana draw the article to the city. The
commissioners took the matter under ad
'V;sement, and will probably create a
sgrade to be called ~turkey red," which is
The name by whick the wheat is generally
known. It was also suggested to them tslat
the grade know1 as amber wheat be
dropped from the inspection, as very sittle
of this wheat is coming here, and it IS be-
lieved it will dc no harm to run it in with
the red WHITES. The commissioners will
decide the matter in few days.
THE TuTURE OF PROVISIONS.
"Provisiens," said a gentleman connect
ed with very prominent Cincinnati
house, 'aresgetting very high. I Don't be-
lieve it wesid be safe to sell them for Oc-
tober; it is getting SO near Che end
belhcge that both pork and
lard area good sale. Of course it might
be neces sary to stand little loss, but even
if lard advanced 80 or SOC PEE 100, the
man w4.o beared them AID stuck by them
would. Pm pretty surs, get bis money
back. You know that "a month or more
ago, rancis Whittake-sof St.I,ouis and
JAS. &orrison were cutting pretty big
figure on the bull side Of the hog product
Whitaker has, however, an convinced
'stuuk on.'' Old Hutch nevereNins cor
ner. Ny impression is that he has been in
and out Of pork & good many times
since Francis Whitaker took hold.
I doubt not that Whitaker
Wiz have to take EutclInsen's Ioaa again,
just as he has already mum bep Of times.''
WHEAT.
Concerning wheat, think that a great
lot OF it was bought for November by the
rich men in the market some weeks ago,
when it was selling at 9s993c. They will
hold it until they've MADE profit of 10,
perhaps l5c bushel, then drop it. Ehree-
quarters of the wheat coming in Row is
the winter trade. and sells for 81 @9S cents
cash. When delivery day comes around
'three-xuarters of the What that !bEyers
get on regular contracts is win
ter wheat. Don't you see that
! there is big profit in
buying regular wheat at Csc or even soc
per bushel.''
AN IMPORTANT DECISION.
The case of Lyman Everingham against
Patrick II. Meeghar, which was instituted
in the Milwa ukee circuit cours to recover
balance claimed to be due on a grain
contract, and decided in favoraf the plain
tiff, was carried to the supreme court il
an appeal, and that tribunal has just re-
Nersed the decision OF the lower court and
Tenanded the case for new trial. The
case is one OF great interest to the men,
bers Of the chamber of commerce and com
mission men in general and the decision
Of the supreme court has been awaited
with anxiety. In 1878, Meeghar,
a Cresco, Iowa, grain dealer
who had previously done business with
Eyeringham, then of Milwaukee, bu: now
of this city, employed the latter tc buy
and sell grain for him, in form for future
were kept in separate books. These deais
were referred to in the correspondence be-
tween the two parties as ''scalping deals"
'options," "specuiating DEALS" etc. The
specializing transactions having resulted
disastrously. an action was brought by
Everingham against his customer to re-
cover $2.1O9.64, the amount claim ed to
hexyo Ioc vut,; 10
half.
The regular business between
the parties in the shipment and
sales off produce was continued
untils1s79, and during which time an oc-
casionai scalping was effected. At that
time there was a balance of S799.Oo with
interest on both accounts, against Meegh-
an, for the recovery of which the action
was brought. The defendant claimed that
the business was gambling transaction
between him and the plain::;;g, by which
the plaintiff was to buy and sell grain for
him without receiving delivering any
such grain. Meeghan also claimed that
all pretended losses upon the gambling
transactions were incurred by the plaintiff
by his failure and refusal to comply with
his instructions in regard to the time and
manner of purchasing and selling the
grain under the gambling contract.
The supreme court is of the opinion that
the defendant clearly and positively
proved the allegations in his answer relat-
ing to the transactions of the parties in
the purchase and sale Of grain in the city
of Milwaukee and at the chamber of COM
merce, and makes the contract Of the
plaintiff for such purchase and sale of
grain gambling contracts. and the en-
ployment of the plaintiff by the defendant
for that purpose gambling transaction,
and that the testimony of the plaintiff
rather corroborates than denies the testi-
timony of the defendant in this respect.
Tho court concluded that the transac-
ton out of which these pretended
losses arise, and in which they
were incurred according to the testimony
of the defendant was not only illegal and
void, but criminal,
THE MEMBERSHIP FEES
The board met yesterday after 'change
fo dicoucc ho ov,rnpo,al