Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-03
ANTI FUTURES WIN.
An Exciting Struggle for Oil Ex-
4 change Supremacy.
MEN NOT ON THE SLATE ELECTED
How s. S., PinkertOn Scored a Decisive
Victory.
THE BOYS LOOK FOB OLD-TIME LIFE

The election of officers for the Oil Ex-
change yesterday was very interesting to the
great majority Of the oil people in the city.
To understand the point at issue it may be
we'll to say that since the possibility of dab
bling in futures was introduced into this
Exchange year or so ago trade has fallen
off and but little was done on the floor, ac-
cording to the statement of an oil operator
since futures become in vogue.
There were only two contests on the ticket,
thar on the treasurer's list and the directors.
As the elections turned out the probability
is that Pittsburg will join New York, and
abolish the future feature. The most sig
nlfcant point about theelection is the choice
of S. s. Pinkerton on the Board of Direc-
tors, man who is opposed to piking and
and scalping in every form, and who is
credited with holding up the Exchange for
the last year in spite of the efforts to popu-
larize the oil trade, and ring in the lambs.
A SIGNIFICANT ELECTION.
The significance of the election of yester-
day lies in the recent history of the Ex-
change. Transactions used to run into the
millions of barrels per diem, whereas of
late oil has been terrible drug on the mar
ket. Occasional spurts have vainly tempted
in the public, and the brokers eventually
wearied of the kind of gsme alluded to by
Douglas Jerrold's witty lawyer, who, when
asked BY disappointed client how it was
possible to eat chops and drink pale ale with
the lawyer for the other side after nearly
coming to blovsin the courtroom, answered:
"Thou fool; we lawyers, though so keen like
shears, cut not ourselves, but what's be-
tween"
Many oil brokers who used to turn their
stentorian voices loose upon the exchange
floor, have almost abandoned the business,
and have gone in heavily for real estate and
general stock brokerage.
PALMY DAYS HOPED FOR.
AS stated in The DISPATCH of recent
issue Pittsburg has become the unquestion-
able center of the oil business, and the class
of merchants dealing in oil essentials is
rapidly increasing. The proximity of the
most promising wells in Western Pennsyl-
vania has much to do with the hope that
now that the future system has been
practically knocked out, the palmy days
will return once more and operators will
make the bull ring perspire.
day was better demonstrated by the vote
than by any other means. There were So
per cent of the members voting and the ma
jorities were, although small, decided.
The count was not concluded until 9:20 P.
NJ. yesterday, and it was watched very
closely, each vote being scrutinized and the
count announced being received with cheers
and enthusiasm on one side OF the other.
1t is now thought that the ''future''
policy will be dispensed with, and New
York, Pittsburg, Bradford, Oil City. and
TitusviIle will join hand in hand for legit-
innate market. The only people who seemed to
feel discouraged over the election announce
ments were few curbstone brokers who
had inside connections, and few inside
brokers who had nothing to say.
A LIVELY TIME PREDICTED.
It is more than probable that to-day will
be lively one on Change, as a good many
people will want to get out,
and number of people exalted by the sue
cess of yesterdays election will want to do
some heavy trading, so that bull move
ment may be looked for as the result of the
election.
The following is the list of officers elected:
james S. McKelvy, President; B. B. Arens-
berg, First Vice President; A. J. Lawrence,
Second Vice President; J. B. Barbour, Jr.,
Treasurer; J. x. Barbour, Secretary, re-
elected; George Heard, Gus. c. Kuhn, W.
1. Muslin, n. W. Stevenson, j. R. Mckee,
Jr., R. ]. Stoney, Jr., Samuel Fritz, A. A.
Adams and S. S. Pinkerton, Directors; Ar
bitration Committee, R. II. Robinson, F. P.
Smith, R. T. Hunt, James Carothers, Frank
A. Pollock.