New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-12-15


and live stock Mr. Vanderbilt said;
al am familiar with the matter only from nearing ing
the people on one size ,SE np tTs Of live stock
The Other people claim that when we carry i've e1 ne
Sya CAV, an he onal In Them which mlgHt as wen 20
w But IL we carried the dressed meat we have
to 40 n IN refrigerator carr twice as heavy az the on
and carry me Ice pSsuv f ,be inorssssd weight We
wsnt 10 carry by weight, and nut al on an ePu1H'
hsy nave had rue interested I'm ranches anu cattle 700,
bn have not owned either ranch or cattle since was
a farmer have no interest ia ANYTHING OF tina Ilnd
,Ss nome Of the presidents are sim great
many things going on IN the companies OF WHICH 'he
@ 90 yoa Know asout corners in railroad stocks"
every nite There was one IN Northwest about Ten n
wears aco and s.nce then in Hannibal ana 81 20.
People engaged in corners usually get ther H"e0i'
burned so badly they dSnt Try again; ooD,o tbr,nrh
their reresc natives. TO legsate ON the subject n
"That ID matter on which you ea9 sPsde f ndns
l. Won have Lad times the opportunities O lsIns
that rave had il dangerous TO both
TO approach Is aud a9ngr0o 80 MOI What now impos-
sbletO divide their business regularly Orvi =, vSd
cntirey obyiae Il can't say. doa't think I'm cGmpe-
tcnf to nudge; haven't hac experience eIoSn r y
ors tbng which was much talked about the other
sde-I was t.ere twioe-wben bresdssuhs "ele as
high Chicago as they we're mere when an tT SH
tries OF Europe pouring their grain INTO Ehgano
while here had it locked mp oy spycnae; ~ be
farmers col do yOul know the railroads ddht geI H.
DR. Boyd thanked Mr.. Vanderbilt for ais answers III.
vaniepb{lt tSenked the committee for listening 10 him
so patiently, ana ne and mr. Depew IeIt VHo 'ooN
together - - , ..>.-
Jay Gould had been subpenaed, and also James h
Yeene and Rufus Hatch After some time spent IN "hC
ing for Mr.. Gould. the committee adjourned nhtl
O'clock whom Rufus Hatch came H. Desmlhg snIlo
,rradiatiug MS face testified that IL was pretty dlh
cut TO say what business was, but finally " guessed
a. was the cattle business in which he had been engaged
for two or three years. "To certain extent he was
familiar VITA the grain produce and stocks business,
having bought and sold th,se or e D
he had led
but had never made He was called on TOT seIes
otda6riinn~ md began them with illustrations. COR
ner meant buying NOR than there is IN existence OF
any commodity; futures. buying WHAT Hou uoh
want from a man who hasn't got it," buying mans
mental Talking OF the effect OF the SAFE az lotnres ne
nh corn ~ There was IN the city Of Chicago. bought
other peoples imaglnatlons II nad leu I'M u"3
longer / would have made S6Oo,OO0 more thah uld. II
was ileSiuinate as It could be bought Wa h
didnt and the other man sold nat he didn't nave
What ought to be done under such circumstances
The man who sells what he hasn't got 0ught 10 de'
liver 40 to prison me man %rG oI nt T Tnn might as
well Try to stop Mississippi from flowing as TO Try 70
fbe time me, or Noses and they'll Keep doing it,"
DR.. Boyd don't remember any corner in AoSeSs
%There was young man named Josephine had
pretty sharp corner corn lie didn't neeu II al al Dss
he thought there was going 10 De ory "ea'le "" 0 ~
"Doyou tnnk the system of specializing beneficial to
mo don't think It's. 1t beneficial to very few
individuals Tie Others-we call Ihem lambs we
"Do Won know Of failures resulting from these tran
They are A thick as the sands on the seashore."
In answer to questions Mr. Hatch explained that
the specuations the consumer 10 pay more on
shor crop bnt less on large ones, while the producer
benefited short and injured on aTse crops by
The law OF supply and demand and the cost OF iresht
Or Bovd|But the spectator comes in
Mr.. H9tchAnd he puts the price up OF down. as al
Dr B5ydIHow often have you succeeded
Mr. Hatci- I've always paid my debts when I'm on
the bull side get every STATISTIC 10 suppOit my sue
and write accordingly. When I'm on ms Dear siue 1
DR.. boyd-With mat result ,
Mr.. HatcH-That depends on how many newspapersai
gel my illusions into ana how widely they are e9lne,L
Itry tell lie; BAT there se some men wno 10
lie know that, because they've Ied 20 me- lie ma
jorty Of the human race ar ON ne bhll Sldc. 49,,
Mr. Hatch said that the legislation In limos ana the
decisions Of the courts against corners mao nau no
effect drop in the ocean The only lhng t-ai h49
had any effect the change in the rules o. Ihe Board
How are The ordinary dealers affected by the specu
latiOn-J mean tine Legitimate dealersT .
II DON'T think there are any, have never heard OF
one yet" Ill. =. o,oonaoroo ,v,,h
q" mean the merchant w99 sells IN accordance Win
"oh he G1esn't exist; he's Of the last generation"
no I. .%'n " '' stem necessary
ar you IN favor Oft"
0Oulf so far as Ii is IL my interest to DO So"
"lfOw YOU view II morally r.
"Financial morals are al big discount
"HoN rs a matter OF political economy & .
al there we're producers ana less spectators 1t
would be better for the Interests OF the country.
Can yOl sns gest remedy e.
mo; don't think il Ia possible to do 81, because
dom tnA Yea can cope 2 a @ not 90 enough
ny on The other SIDE OF ,G9Isls to 90 %
"The end will be that every few years wen have
smssi-up as we dld In 1873, Black FRIDAY. But the
Tecuperatiye power of country Is ex:raor binary,
and we' be on our feet very quickly"
Mr. Hatch also INTO the mat or OF stock watering
Sumnerfed testified in condemnation of corners aud
futures on commercial grOunus, aud the committee adj
jOurned till 10 a. M to-day