Daily globe., 1883-05-26
VICTORY FOR THE BUCKET SHOPS.
Sharp Competition for Seats on the
Call Board by Spectators.
GREATER INTEREST on WALL ST.
Northwestern Bid Higher and Manitoba
Takes Tumble.
CHICAGO.
[Special Telegram to the Glohe.I |

exciting struggle between the bulls and
bears on change. In all except the wheat
market the latter we're victorious, but wheat
maintained its buoyancy of yesterday and
added to its advance. Tonight the decline
of last week is very nearly wiped out. The
same Influences starting the boom were
continued to-day, the leading longs buying
heavily, and the shorts being eager bidders.
At the start a good deal of the wheat
bought yesterday was sold by timid opera
tors, who feared reaction and were will
ling to take the profits already accrued to
their deals, but there were plenty of buyers
for all offerings, and soon there was more
wanted than could be readily had. This
was particularly true in the afternoon when
the excitement was highest.
Judge Moran delivered his decision this
forenoon on the motion to dissolve the in
junction restraining the Baltimore &
Ohio Telegraph company from
removing its tickers and Morse
instruments from the rooms of
the public grain and stock exchange, and
severing the telegraphic connection be-
tween them and the board of trade. Judge
Moran took 10 notice of the charge that
the exchange did gambling business. He
said the position taken by the telegraph
company, that the commercial news bust
ness was on a different footing from its
telegraph business, and that while it would
not discriminate between different citizens
in the matter of sending dispatches, it
might furnish commercial news to one
citizen and withhold it from another at
will, was absurd and untenable. The com
mercial news was sent over wires and poles
erected by permission of the whole public
in accordance with the law Of eminent do
main. It was clear, therefore, that one
citizen had as good right as another to
the benefits Of this department of the COM
peny's business. The board of trade
threatened 10 exclude the news agents Of the
company from It's floor if they fur
nished the quotations to the complainant,
but that did not alter the case at all. Al
though he did not agree with Judge TuIey
that a court Of equity might restrain the
board Of trade from excluding agents, he
saw no incongruity between his views con-
cerning the freedom of the board of trade
in this matter and the one he had expressed
concerning the obligations Of the Tele-
graph mpany. He would therefore over
rule the motion to dissolve.
The seats in the call board were
sold at auction this afternoon. Baker j.
j. Bryant prid $3.50 for the first choice.
Lester & Co. paid $3.50 for second. There
never before was such a rivalry for front
seats, after the sale of the first choice at
$3.50. The next ten chances were knocked
down at $3.50 each, some firms taking one
and some two seats at this figure. In the
struggle for the twelfth choice competi-
ton carried the figures beyond $3.50 and
it was knocked down to Kirkwood at $775.
McGeoch paid the same fig
ure for the thirteenth, and got
two very much poorer seats than he has
now. Instead OF the premium lowering as
the bidders made their selections and fell
out, the brokers in the rear seemed to grow
more and more desperate in their efforts
TO get seats up in front somewhere in the
shadow of the callers" stand. The sew
enteenth choice was run up to $785 and
the next two brought the same figure. The
twenty-second was knocked down for $500
and the twenty-fourth at same figure. The
good seats were rapidly being gobbled up,
and the crowd in the rear, which had in
days gone by gesticulated itself dizzy and
shouted itself hoarse in vain efforts to
make trades, was still without seats. Then
half dozen choices went for $3.50; $500
was bid for the thirty-third. The total
premium realized was $98,OOO, and fifty
seats remain to be sold tomorrow. which
will increase the amount to over $780,
600, against $4,000 last year and $4,000
in 1881. -Four years ago the first choice
sold for $35, and this is only the call
board, side issue to the board of trade
that is becoming almost a rival.
On the board W heat was fairly active at
the opening but quiet and sold considera-
bly, higher on the regular board, and some
what higher than on the call yesterday af-
ternoon. Afterwards for a period it ruled
weak and Irregular falling off about 1c
from the highest point. Pressure from
the bulls who became liberal buyers, and a
fresh lot of heavy outside orders, mainly
from the east, again caused buoyant feel
ing to prevail and higher prices were paid
than at any time before during the day.
At the close July was 1c higher than at l
O'Clock yesterday and September 5Sc high
er. Advices from winter wheat districts
are still quite discouraging, but the reports
concerning the spring wheat showed much
improvement in the outlook for the crop.
and tended to offset the effect of the winter
wheat reports. Just at the close after the
bell rung there was a sharp upturn. the
highest point of the session
being reached many shorts were still buy
ing, iand There was a nervous feeling
among all classes. few showing much dis
position to sell; hence the aggregate trans
actions were not so large as thew could
otherwise have been. In the afternoon