The morning call., 1894-03-23

recommendations of the general assembly
McGlaufin & Co. will have returned to
them 100000 of the money now on de-
post and the men who are short will be
forced to put Up an additional deposit of a
similar amount.
There was little doing on Change dur
ing the day. The brokers were too much
worked up over the approaching struggle
to transact bu siness.
Some My wheat was offered at 81 12h
but only 81 11A were bid for it.
There were number of strange faces
in the board rooms when the aftern oou
session opened, and it was clearly evident
that they were not on hand to befriend the
"shorts."
Produce men and merchants who, al
though members of the exchange seldom
frequent the call board, were out in great
numbers and work ng hard for MeGlaufiin.
That individual was at all times sur
rounded oy crowd of admiring friends,
and early in the day talked himself hoarse
In an endeavor TO clearly explain the DO
sitinn which be occupied.
Eugene Bresse, who is associated with
McGlaufiin, gave the exchange a wide
berth until the hour set for the meeting
his time was devoted principally TO drum
ming up votes, and armed with a list of
the members he hurried about the town
whipping first one and then another into
line.
The few minutes Intervening between
the close OF the afternoon session and the
hour appointed for the meeting were occu-
pied 10 discussing the probable result.
"We1i win in walk, said Secretary
Friedlander. THE vote will be three to
one in our favor"
why everything is going our way" az
nlained Bress~; I'VE have The support of
90 per cent Of the members"
1t was not until the meeting was called
to order that the real excitement of the
day occurred, and then for an hour or so
affairs we're at white heat.
This meeting has been called" ex-
plalned the chairman, after he had raped
for order, 'in response to a petition of ten
mem bers of the board and In accordance
With our governing laws. Its purpose is
set forth In the petition which the secre-
tary will read.''
The petition was quite brief, and simply
recited what had trhnspired, expressed the
belief that the directors action was AN
unv ise one and asked that it be dis
approved. The struggle commenced as
soon as the secretary concluded
Judge Newman, who headed the
shorts, took the floor and moved that
The petition be LAID on the table. This
was done to test the strength of each aide
be lead. The motion was lost by vote
of " 10 So.
The >trengtb developed by McGlaufin
momentariiy paTalyz~d the other fellows.
but they quickly recovered ana began to
fight for time with hope that something
might occur TO turn the tide in their favor
Max Brooks iutrodu uced resolution up
holding the directors and lauding them for
their display of wi dom.
in support of his resolution Mr.. Brooks
delivered quite lengthy speech which
abounded in condemnation of the mem
pers OF the opposition and praise for the
other side.
The deal in May wheat he characterized
as a reckless gamble and warned the m en-
bers that it would not help but result in
dire financial distress. He concluded with
quite pathetic appeal on behalf of the
"bears"
Barry Baldwin led tire other SIDE of the
house and replied to Brooks in quite a
warm way. He expressed cnnsldrra BILE
contempt for The men who were crying
because they were in danger of losing a
dollar or two, and said not few unpleas-
ant things about men whose votes were
governed entirely by selfish motives.
The Brooks resolution was defeated by
a vote of 56 to A.
McGlaufin's followers next tried their
hand with resolutions.
A resolution couched in language quite
severe and the purport of which was TO
censure the directors was Introduced.
The language used, however, was so
strong that IL met with considerable oppo-
sition from the conservative members of
the exchange aud underwent many
changes. The censure on the directors
was stricken out and many other changes
made until finally the resolution read as
follows:
Resolved, That without wishing to question
the judgment of The board OF directors In fixing
the marginal value of May wheat at 81 O5, vet
we are OF the opinion that the placing Of The