New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-06-02
A DAY WITHOUT TICKERS
SOME DIsAGREEABLE AND UNEXPECTED
RESULTS.
THE CONSOLIDATED EXCHANGE GETS THE QUO
TArIoNs SOMEHOW - INDEFINITE

1 SOMEHOW INDEFINITE
PLANS FOR THE FUTURE.
| The first days experience without tickers was
| agreeable neither to the Stock Exchange nor to
It's customers. On the floor there were the usual
! bustling crowds; few curious spectators looked
down from the galleries and the only change in the
appearance Of the building WAS the unusual num-
| Der OF telephone and messenger boys who throngcd
| the corridors. II any new customers were hang.
| ing over the rail" they were not recognized.
In the offices OF large commission firms there was
melancholy air. Customers occupied the chairs
and listened to the announcement Of prices, but
they did nothing, chiefly because they lacked
fath in the quotations that were furnished Their
scrpticsm was aimed, not at their brokers' but
at the Stock Exchange. IL was the common opn.
| ion among them that the quotations were honest
but the uncertainty about the filing OF an order
anywhere near tho latest prices restrained bust.
ness
This was not the result generally expected by
the thirty-f four members OF the Governing Com
mIttee who voted on Friday TO end the c, ntracts
with the ticker comT anies. Aside from the
curtAiling OF speculation, the absence OF the tick.
ers' was without effect. The bucket shops in this
city were closed, as n rule but in Boston, PhilA.
dclphia and Washington, and presumably in many
smaller places, they were In successful operation
The fact was brought home 20 several brokerage
houses by dispatches from country correspondents,
who said in effect that 1t WAS not necessary TO
send further quotations, because fresher ones could
be obtained at the nearest bucket shop. The
Boston and Philadelphia Stock Exchanges were
supplied with quotations by the efforts Of New
York members OF those boards and probably the
same thing was true OF the Baltimore and Chicago
exchanges.
There is the highest authority for saying that
the Governors Of the EXchanH have no definite
plan in view long meeting OF the Committee
Of Arrangements was held yesterday afternoon and
II WIS devoted entirely 10 completing details for
the prompt diSa rination Of prices The arrange
ments that were made pointed 20 o continuance
Of the present old-fnshioned way hut the com
mittee will use every effort 10 reduce the ncon-
vcnienoe 70 the smallest proportions. The rumor
that one or two members OF the Exchange had been
charged with lie gal practices had little fonndn-
ton. One active broker complained because after
awhile admittancc WAS refused 10 his messenger.
bnt no charges against him have been filed with
the Governing Committee II was alleged on one
side that tho messenger had been carrying quota
lions 10 the Consolidated EXchanga. and on the
other that he was bringing orders which the
subcommittee could not approve The broker
said that the attempt to ascertain the names Of
his principals bad failed, and that the sub-com-
mittee had right 10 Impugn his motives by
interfering with his messenger service.
THE QUOTATIONS. WE'RE on TINE.
large Attendance Of members Of tho Con
solidattd Stock and Petroleum Exchange before
The opening Of business attaSted tho fact that
they generally accepted the action OF the Stock
Exchange Governor, n gauntlet OF war % them
will 90 /" bucket-shops7 Every man seemed
TO be inspired with the idea that he must work to
utilize the opportunity offered, 20 demonstrate the
unit OF the Independence OF ttr Consolidated
Exchange
The board-room OF the Consolidated Exchange
presented It's normal appearance about a. m, ex-
cept that there wis more hurrying and scurrying
~ brokers aud messengers and n constant discus
dou OF the probable effect OF the ostracism Of the
ticker" In front Of the big blackboard on the
wall to the right Of the rostrum big crowd gath
cred, whiting 20 aScrmine the question rs 10
whether prompt receipt Of quotations from the |
Ncw-York Stock Exchange could be enjoyed with |
out the tickers or not. Trading actually began |
before the hour OF opening, in several stocks At
precisely 10 o'clock Chairman Pcterss gavel |
banged the signal for operations. Almost In
stanty telegraph instrument that occupies n
desk just back OF the blackboard began 20
click.cllck' the operator whispered figures 10 a |
young man who stood on a platform IN front Of the
blackboard, and in a moment the young man had |
cha liked up the figures ~ l-27 in the Western
Union column. loud shout was raised by every
broker looking on, and IL changed into cheering as
the young man nimhly ran 10 and fro on the plat
form, chalking down quotations. Every one was
satisfied that the Stock Exchange had been
" beaten
But a mystery surrounded those figures which
could not be unveiled They were officially de-
clsred 10 be the figures made the door OF the
Consolidated Exchange, but'a quiet tip passed
around that they were the Stock Exchange quota
tons, possibly minute or 80 hate. but still IN adj
vance Of the time in which most Of the Stock Ex-
change offices received them Here are a few Of
the quotations first recorded on the blackboard OF
the Consolidated, compared with the opening sales
given on the printed list Of the Stock tx
hours after the close OF business Mt noon:
81 l.2 az the Consolidated, against ss IA At the
Stock Exchange, for Western Union; Richmond
Terminal 20 Ia, against % l-S; Atchison, As IL
against 46: Reading, ~ Ia against a Is; st.
Paul ~ 7-s against "a seller ), aud 70 81 reg.
uhr Lackawanna. l43 SO against li3 80
Lively WORK At TIE LITTLE EXCHANGE.
The brokers of the Consolidated Exchange, how
ever, made q lively trading without paying close
attention TO the supposed Stock Exchange quota
lions. The total dealings ran up 10 nearly 1885,
900 shares the heaviest record ever known In the
history Of the Exchange for a Saturday haltholi-
day, when trading is usually restricted by the
weekly settlement Of the Clearing House accounts
Numerous instances were given vi salcs OF cOnsid-
rTnblc magnitude upon the Consolidated after vain
attempts had been made TO sell at the Stock TX
change.
The ticker service controlled by the COnsol-
dated Exchange sent out the quotations OF
stocks with regularity, and gave the only open in
formation available TO the public The groups
around these instruments down town, whether In
brokers' offices or in liquor or cigar stores, fur
nishcd ample testimony Of the public demand for
ihese facilities The wire furnishing the circuit
Tor the service OF the Consolidated Exchange and
customers in its immediate vicinity was an cNcep-
lion in suffering bad Interruptions in tho two hours
jf business nsinuations 10 the cause Of the dis
,urbance were freely made, although no direct
charges were levied.
After the noon hour President Wilson called the