The Daily times. [volume] (Richmond, Va.) 1886-1889, 1889-06-03
CREAM OF THE PRESS.
THOUGHTS or THE DAY
FROM CLEVER SCRlBES'
TnseIiecs I'm Journaiisrn-e f"rh
stops the Tfekers-The New opera q"
PARIS. and Amerfcn's New Diva-ai>o
nome words From Emma NeNnna'

stopS the Tfekers-Ihe New opera I'm
PARIS. and Americas New Diva-Aiso
.ome words From Emma nevada.
INTELLECT. OR STRICTLY BUSINESS. =
In fulfilling its missions the Metropolis
sometimes tries to reach the pupiis
through its teacher-the public through
the daily papers. Ii is conceded tnat
the nrees is the great educator OF tins
AGE. and much depends upon the style
| of education. Leading journals reflect
the individuality and inspiration OF
their founders. Thus the personality
and even the mannerisms Of Greeley
are still preserved in the Tribune; OF
RAYMOND. in the Times; OF Bennett. III
the Herald; Of Dana. IN the Sun; Of
BRYANT. in the Post, although other
hands now weld the pen and the scis-
sors. When this individuality or in
spiration is lost or lacking the so-called
business department Of paper becomes
dominant. This is destroying the virtue
and sapping the life Of the daily papers
of New York.
inst as the greed Of money making
subOrdinates the better qualities of "a
man. intellectual and moral, so, when
the business department Outranks and
regulates the editorial department IN
Journalism. the press Degenerate, loses
ITS influence for good and becomes a
mere article of merchandise in which
nraise or blame are sold for cash at so
much a line. Such a paper, no matter
how loudly it may boast of its circula-
ton, is dishonesty J. HerdfI.
EXTRAORDINARY ACTION OF THE
STOCK ExcHANGE.-Theg governing com
mittee of the Stock Exchange. IS will
be seen by the report in our local col
umns. took an extraordinary step yes
terday-one that surprised most Of its
members as it will surprise the public.
II decided to cut off the ticker ser
vice of both the Gold and Stock Com
nany-a concern controlled by the
Western UniOn-and the Commercial
Telegram Company. As these are the
only two companies that have been re-
porting the quotations the effect must
be to suspend, for time at least, the
entire service.
No reason for this remarkable action
ia given. The ostensible purpose or
pretext seems to be to deal deadly
blow at the bucket shops. That may
be a good end But can ii be attained
bv the means IesOrted to- Hardly.
1t cannot be that the change is iu-
tended 10 be permanent. Prompt and
systematic publication of its trsnssc-
tions has become a necessity TO the Ex-
change as well as to the public. To do
away with it is to 60 back to the slow
methods Of the past, which would be
no more tolerated now than stage
coaches in travel.
Is the real purpose to establish a
monopoly
Some time ago the courts decided
that the Commercial by its contract
had the same right as the Gold and
Stock TO keep its instruments on the
floor: that the Exchange could not deny
this privilege to the former without
DENYING it to the latter. Has the Elk
change undertaken TO get around the
legal difficulty by Ousting both. with
the intention Of making new contract
with the Gold and StOck-a contract
which will give that concern an eX-
elusive right and establish a Western
Union monopoly :
That will revive the interesting ques-
ton whether the Exchange has the
power to create monopoly in its own
quotations. This is an important point
which has been much discussed Of late,
but is not vet. settled IN this State. II
has. however, been finally decided IN
Illinois. The question there was whe-
ther the Chicago Board Of Trade had
absolute control of the reporting of its
own quotations. whether it could give
them to or withhold them from any
person or company it pleased. IL claim
ed that it was a private organization
engaged in a private business: that ITS
quotations were the property of its
members, and subject to their disposal.
But the Supreme Court of Illinois
held that the business of the board was
of a public nature: that its quotations.
affecting as they did general propertie-
and values. were of vital concern 10
the community at large, and were.
therefore, subject TO legislative and jul
dicial control. The Court said
If the interest is public. then il is me-
cessarily to all alike, common TO all
and upon equal terms. The doctrine,
as applied to the matter Of these quo
tations. would forbid that monopoly
\ should be made of them by furnishing
them to some and refusing them 10
others who are equally willing to pay
for them and to be governed by all
reasonable rules and regulations. and
would prevent the Board of Trade on
telegraph companies from uniustly dis.
eliminating in respect TO the parties
who will be allowed to receive them.
Whether there shall be fair COMPETE
ton or a monopoly IN reporting the
quotations of the New York Stock Ex
change is matter of paramount i'm
portance to the public. Competition j.
a guarantee of honesty, accuracy. and
independence-a safeguard against job
berry or manipulation. 1t is to the i'm
terest Of the Exchange as well as the
community. But if that body should
see fit to favor monopoly. then IT,
power to do 50 must be contested in the
courts.-Nelc York Herald.
"EscLARMoxDE. The new granC
opera has been successfully performed
in Paris, and the star of the event was
the new Lyric artist. Sybil SandersOn.
Gdliigndm Messenger says of th,
theme of the opera:
Might after night, in whatever spoI
Roland happenened to be, EsclamondC
reioins him, Their secret love Is. how
ever, discovered by the Bishop Of BlOis
who surprises them together, and. tear
ing the veil from the face of Esclar
monde, thus puts an end to her magic
power. She cannot return TO Byzan
uum. Her disappearance is reported tC
the old Emperor Phorcas, in hisretreat
He commands the spirits TO bring Is
clarmonde before him, wrings from heI
an avowal of. her fault, and condemns
her either to renounce Roland or 10
see him slain before her eyes. To save
her lover she forces herself to bid him
depart, for she loves him no longer. In
despair of this heartless abandonment,
Roland departs for Byzantium, to enter
the lists in the long proc claimed tourney,
and there find death upon the field OF
honor. His very desperation gives him
the victory. but when told that the
hand of the Empress is to be the reward
of his valor, he refuses the prohered