The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-09
a TALE OF TICKERs.
Involving Race Course Quotations
and Some others.
From the New York Press.

From the New York Press.
The Western Union Telegraph Company
bears the same relation toward the stock
exchange and the bucket shops as the Dit
mas company bore toward the race courses
and the pool rooms. 1t pays the exchange
$780, 600 a year for the privilege of sending
out stock quotations broadcast over the
country. The Ditmas company paid the
racing associations ten times as much for
the privilege of sending out betting quota
tons! Think of it! over 100000 a year for
race track privileges, and only $4,000 for
complete returns from the greatest fnan-
cial institution in the United States, which
regulates prices all over the continent and
causes millions and millions of dollars to
change hands every year!
One Of these days 1 shall tell a turf story
that will paralyze the natives. Not now.
The hour is not ripe. What was the Dit
mas company? An agreement between
George Gould, Superintendent Humstone
and Henry Clay Ditmas racetrack cor
respondent, who, twelve years ago, wore
trousers fringed at the heel and coat of
many stains Ditmas' income from this
agreement at the time of his death was
100000 year. His estate was worth nearly
81, 100000. The devil only knows what Hum
stone and Gould made. The lions share
went to them, of course. Ditmas died two
years ago, but the company is much alive,
reaping its reward.
The Ditmas Company paid the race
tracks practically nothing at the outset,
1t ran wires into the track and sold the
results without even consulting the con-
venience of the racing associations. FL
nally a small sum was charged, the
jockey clubs getting a hint of the profits,
and this was increased from year to year
until as much as $3.50 a day was tho
tariff paid by the Ditmas Company for the
privilege of running a Western Union
wire into the grounds. In estimating the
annual total l have allowed for only six
months of racing, and have considered
only the tracks of the Metropolitan cir
cuit-Morris Park, Sheepshead Bay,
Gravesend, Brighton and Aqueduct. The
Stock Exchange is going the year round,
and only 100000 for privileges.
The annual $4,000 for giving quotations
to all the bucket shops in the United
States is monstrous insult to the eX.
change. The Western Union should not
be allowed to run a wire into the ex-
change for a cent less than $250OOO a year.
Even that would be a small price for so
valuable a privilege. There must be some
thing very soft about the management of
the exchange The Western Union runs
the floor even as it used to run the race
tracks. If the Ditmas Company refused
to pay the demanded 81 $50 day it was
shut out of the grounds. The Western
Union set up tall poles, and, with man
at the top, armed with a telescope, could
read the results from the jockey board
and wire them to all parts of the world.
Lofty fences were built to shut out the,
view, some as much as fifty feet high but
they did no good; the fight always ended
in compromise victory for the Western
Union. Bucket shops are. sapping the life
blood of Wall street, and the Western
Union Telegraph Company is helping
them.
Suppose the Western Union should get
on high horse and turn from the stock
exchange to the consolidated? Its con
tract with the former ends next MAY. and
there is a possibility, nay even a probable
ity, that there will be war to the knife.
have it on pretty fair authority that the
exchange is already flirting with the Postal
Telegraph people with a view to putting
out the Western Union and its bucket
shop crowd and taking in the Postal This
of course, would force Gould, Sage and
Company to carry over to the consolidated
all their friends, who are legion, and who
could not well afford to remain out in the
wet if ordered to march. Should the West
ern Union and it's friends throw their
power and influence to the consolidated
what a merry time we should see. There
are whisperings and mutterings of a COM
ing storm. The New York Stock exchange
and the Postal Telegraph Company against
the Consolidated Exchange and the West
ern Union; what a magnificent battle