New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-01
THE BILL OPPOSED HERE.
TALKS WITH SENATOR'S AND BUSINESS
MEN.
THE BELIEF is GENERAL THAT THE MEASURE

WILL NEVER BECOME A LAW.
The news OF the passage by the United states Senate
OF the AntOpion bill not received In Wall street
In time TO affect the markets. AS the measure ap-
lies 10 transactions at exchanges which deal only In
commodities the interest In the bin centred at the
Produce Exchange, The Cotton Exchange and kindred
organizations. The pendency OF the proposed law has
tended TO unsettie the commercial markets. but the
effect OF the discussion has been modified by belief
that the bill could not pass Presidential veto. The
wheat market yesterday was dun. because OF the fact
that the bill under discussion in Congress and
prices Influenced unfavorably and favoraOly ac
cciding TO the reports that came from Washington
bearing upon the prospects OF lis passage. That the
fluctuations In prices light was due TO the con-
vicon that the bill could be killed In the House
OF Representatives, would be vetoed. The same
condition OF sentiment 10 be found in the cotton
market. The market letter OF Hubbard. Price q Co
said The fluctuations In the prices during the
afternoon were brought about by the different tenor
of the kilograms received from Washington. When any
advice favorable the passage Of the bill this after
noon was received prices declined" Brokers In cotton
and grain over the possible effect OF the
news but they lean upon confidence In the ultimate
defeat OF the bill.
In Stock Exchange circles tie action Of the Senate
Is likely TO have only sentimental effect that wall
depend upon the In which 1t is received at the
commercial exchanges. The Anu-Qption law does not
apply 10 transactions In stocks In anv way that would
embarrass the Interchange OF securities 1t has been
feared, however that selling movement in commodl-
ties might be precpitated ana that this might react
upon holders OF railway securities. The news OF the
action Of the Senate not generally known before
sookbrokcrs had left Wall Street The sentiment ex
pressed among the who met ct the uptown re-
sorts was complimentary to the supporters Of the
Ana Opuon bill. but Il feared that the bears
might use the for their purposes. TIE general
idea was that the passage o. the measure would dis
ceufgc hope Of sound financial legislation at the
hands OF the present Congress. but confidence was
even as general that the bill would not meet the
prevail OF President Harrison even II on Tue ground OF
uncomsututionslity alone.
The general impression among business and public
men who were Interviewed last night was that the
AntiOpton measure. II It becomes a law. will prove
10 10 lad piece 81 lcslsi Two Senators WHO are in
New York and did not have chance 10 vote on the
bill, who talked TO about The bill. are OF the
opinion that the measure may meet Its death In The
hands OF conference committee, while others are Of
the opinion that If Congress passes it the President
will not lose any time I'm placing his seal OF dis
approval upon 1t by promptly vetolng 1t.
IL should have voted against 1t II had been IN
Washington to day." said Senator Adrtch when he
was seen at the Fifth Avenue lloth last evening.
II expected that the bill would PASS the senate, So
am not surprised. a month ago, however. the vote
would have been much larger in its favor The vote OF
forty 10 twenty zine shows that II has not increased
in popularity with time. Senator Washhurn who has
worked hard In the interest OF the DILL Is, no doub
one OF the hnppest men in Washington tonight. The
BILL although II has passed the Senate. may
reach the lower House The next step IN the matter
VIII be that 1. will lie sent 10 conference com
ruittee and II may meet its death IN the hands OF
that committee. Even IL the measure reached
,the- Presidents hands do not believe he would
sign it,
sDo you think snch law proposed by the bill IS
unconstitutional was asked.
IL am not a lawyer. and cannot say but regard
the measure most unwise legislation, and be-
7lteve II IL became law 1t would result in much
injury ana not particle OF good"
Ex-senator Thomas c. Pint. when he learned that
the bill had been passed by the Senate, said that
II II ever became law Il could be proved TO be
unconstitutional q believe that the measure Is I'M
constitutional said Mr. Plat. md President Harrison
y good lawyer and with bis correct business Ideas
viii regard II. do not believe that the President
will allow II 10 become law. The legislation
proposed by the Anti Option bui Is certainly bad II
Il ever became Inv II would become dead letter.
anyhow"
Senator Camden, OF West Virginia. when he was
seen at the Fifth Avenue lIote. said that he would
have voted against the BILL had he been ia the
Of the tine IL came up for vote. am opposed 10
sv0y lind of anti-opuon legislation" said the scna-
tor. 1t will result In any good TO the
farmer or anybody else. DO not believe II will
ever become law. so am not disappointed because
II passed the Senate. expected that 1t would pass
the senate, but really did not look for such large
vote In ITS favor. | can only say that 1t Is bad
leg1slsuon."
=. ". Peck. Of Illinois. said that In his opinion all