The evening world., 1888-06-01
CLOSE AT NOON /!
The Produce Exchange and The
Saturday Half Holiday.
Little Sympathy With a Scheme
to Nullify the Law.
somo Roo~m-Trsders and scalpers In the
Wheat Pit Would Like to Speculate All
Day, but the General Opinion In ssid 70
-, Be in Favor OF Complying with theLnw
The Recreation a BENEFIT to Employers
md Employees Alike.


and Employees Alike.
Aproposed amendment to the bylaws of
the Produce Exchange, which will virtually
nullify the Saturday Half-Holiday law, is
now exciting great deal of discussion among
the members of that institution. When the
Half-Holidsy law was first passed by the
Legislature the Exchange. which obtained its
charter from the State. at one decided to
close on Saturdays at noon and it has been
working under this system ever since.
The law has been unpopular with som
room-traders and scalpers in the wheat pit,
and the present attempt to make the Law mil
and void had its origin among this class of
members.
The proposed amended rule, which Ia to be
voted upon Monday, June 4, and has been
approved by the Board of Managers of the
Exchange. reads as follows, the amending
clause which is inserted being printed in
italic 30:
SEC. 80. the Exchange shall be open for busi-
sSssn e ess Sos saSsD son sTsas y q. snS on ,sEa aa no, a .
Managers may e~s!abiish; but the Exchange may
be taken thereon by ballot, Of which at least
i Frs.id.ns, pr aS = n saS.sni s1st Of az al s SisS Vote. y o .ss
shall be in favor Of suoh closing.
To carry the amendment requires q major
ity Of two-thirds. The movers propose, II
successful. t. extend the time Of closing on
Saturday to 2 O'Clock, thus requiring q full
days work not only from the clerks in the
offices of all the brokers and merchants, but
from all the employees of the Exchange. The
amendment would also compel the attend
ance ct the Exchange up to the hour Of clos
ing of all the active members, both in the
speculative and cash departments Of the -four
and grain trade, no matter whether they were
opp osed to the change or not. .
At a rough estimate il would affect not
fewer than ten thousand persons, the great
majority of whom are employees of the mer-
chants of the Exchange and have salaried
positions.
That the proposition to keep open until 2
O'Clock on Saturdays is very unpopular, es-
pecially among the younger men on the floor,
who generally represent the larger houses,
and are working on salaries, is very evident.
Most of them, however, are unwilling to ex-
press any opinion in the matter, for fear that
It may be used against them, and, as n matter
Of fact; not a few Of them who apparently
favor the change will certainly vote against it
when it comes to balloting;
A thorough canvass of the active members
Of the Exchange who are to be counted upon
to cast their votes in such a controversy has
WORLD. The prevailing sentiment is strongly
against any change in the present arrange
ment SO long as the Half Holiday law con-
tinues to exist.
houses are opposed to the amendment. This
is also true OF most of the clerks ON the floor,
who also hold membership certificates, and
not a few of the spectators in the pit, where
the principal backing of the amendment isto
be found.
Among those who favor its adoption are
Henry S. Kneeland and Franklin ID. Edison,
of the grain trade. and E. B. Cottrell, of the
speculative department. Their argument is
that Chicago keeps open and they must fol-
low suit to protect themselves.
On the other side. those who favor the ex-
listing system hold that so long, as the law
says Saturday isa half holiday 1t ought to
be observed; the merchants. brokers and
employees need a rest after the exhausting
work of the week, and especially in the sum-
mer ought to be allowed to get out of town
for Sunday, or get recreation IN other ways;
that keeping open until 2 c O'Clock would be q
violation OF the charter granted by the State.
and that If necessary all the work of Satur-
day could easily be done in the morning
hours, and that there is no sense in knuckling
down to Chicago.
In regard to the number of those who stay
after hours Saturday aud trade on the curb,
they saw that it is comparatively small, and
most of the business done is My of q scalp
ing nature and does not in any way affect the
general business of the Exchange.
Those who are opposed to the amendment
all feel very confident that it will be rejected
by O large majority nlle many OF those VINO
favor 1t express very grave doubts as to their
ability to carry it.
Here are some of the views expressed by
member of the Exchange representing al
departments of trade in opposition to the
amendment:
H. L. Wardwell, of the firm of Mcintyre &
Wardwell. grain-It will promote the bust
moss of the Exchange if we close at noon on
Saturday, because it will make the trade
better prepared to do business if they take
more rest. Besides this. they have no right
to keep open on . legal holiday or half holi-
day. The charter forbids it. The members
of the Exchange will lose nothing by observ-
ing the law of the State.
Fred Goldsmith, one of the best-known
brokers in the wheat pit-You can put me
down % strongly in favor of the rule as 1t
stands. / q on't belong to the army of kick
era. As long as II is the law to close at noon
II Ia proper TO observe it.. / shall vote against
the amendment.
J. p. Bennett, grain broker-I am in favor
OF working fewer hours not only tor the
members OF the Exchange, but for their clerks
and employees. l am not prepared to say.
however, that keeping open till 2 O'Clock on
Saturday would not be q good thing for the
trade.
Oiarkson Cowl. a prominent trader-I am