Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-01
THE BUCKET SHOPS.
They File Bills Asking that the Teie-
graph Companies be Enjoined frozaa Guy
ting Off Their Market Reports,

graph Companies be EnjOined from Cav
ting Off Their Market Reports.
Especial Telegram to the Globe.i
CHICAGO, Dec 31.-For some time past
it has been an open secret that me tele-
graph companies, which have Off ces on the
board of trade floor, would, un7 er pressure
from certain members of tbe board, re-
fuse to give any further NAV ket quotations
after the 1st OF January to the
numerous bucket shops, as they
are called. The ope'l board was also
at first included as being on principle un-
distinguishable FROM its humber rivals,
Friday, the big board gave consent, it is
said, to the Telegraph companies furnish
ing the quotations. TO it. In pursuance of
this determination raid was made about
noon yesterday on the bucket shops, and
the ticzers taken out by the employees of
the telegraph companies. This meant
business, aud late in the afternoon seven
( bills were filed by the public grain and
stock exchange, of No. 131 La Sale street,
the Cosmopolitan grain exchange and the
Metropolitan grain exchange, both located
in the alley i'll the rear of the exchange
building, and run by II. B. Peabody, and
the gram and stock exchange, run by
j. ~. Pratt. Some of the parties
filed two bills, one against the Mutual
Union by the Baltimore & Ohio, and the
Western Union telegraph company and the
board of trade according to the special
lines used, the board Of trade being one Of
the defendants in each case. The metro
politan grain and stock exchange bill, for
| instance, sets out that it is corporation
! organized under Illinois laws, engaged i'll
legitimate business, buying and selling
grain provisions, ETC., at the market price
as furnished by the Mutual Union tele-
graph company. The latter corporation
has been for years doing a general tele-
graphic business. As such common carrier
1t is the duty of the telegraph company to
treat all persons and corporations con-
stituting the public in the same manner
without discrimination. The company is
in the habit of erecting at the request OF
any proprietor of hotel, Office, exchange,
board of trade, bank, and other place IN
most cities of the Union, especially Chlca-
! 90 for the accommodation of such owner,
occupant, or proprietor, wires from other
lines of the company and putting telegraph
| instruments in their offices, furnishing for
| a fixed sum information of the general
state of the market and price of grain, pro-
visions, etc. which information is transmit
ted simultaneously to all points. The
board of trade is corporation en-
gagged in the same business, but
in competition, and for this purpose
the board has telegraphic instruments and
operators on the floor to disseminate all
such information as to markets, etc.,
throughout the country as public informa-
ton, and no person or corporation, not even
the board of trade, has right under the
law to delay CT inserfere with it. Contracts
have been made at different times by vari-
GUS exchanges with the Baltimore Ohio,
the Mutual Union and Western Union Tel
egraph companies for the use of their
wires and tickers, contracted indefinitely
as to time, and conditional that so long as
the parties paid the charges asked they
could have the, use ,of the instruments
and wires. Of course, the successful man
agement of complainants' business de-
ponds on the receipt of market
quotations, claiming that relying on
such information and contract, it has ex-
pended $4,000 fitting up place and in
| creasing facilities for transactlng business.
The board of trade, however large, power
full and wealthy corporation, making i'm
mense profits became dictatorial, and
without authority assumed to dictate what
persons shall be allowed to enter, or con-
tinue Legitimate business in opposition
with it, running compliments business by
depriying 1t of market quotations, to the
detriment of the public welfare. The
board of trade has given notice to the tele-
graph companies to stop giving quotations
to complainant and other places of the
same kind, claiming the right to discrimi-
nate as it pleased, and benefit one at the
expense of another. Complainant denies
that this is just or right, and therefore
asks that they may be enjoined from cut
| ting wires, etc.