The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-03-26
TRIUMPH FOR THE TICKERs.
CHICAGO BOARD OF TRADE LOSES
IN IT'S FIGHT.

The Telegraph Companies Cannot
Re Refused the Right to Transmit
Board of Trade Quotations to Any
One Except Bucket Shops - The
Companies In the Position OF COni-
mon Carriers and the Board by
Usage Has Given Them the Righ.
to Use of It's Quotations for the
Good of the Public.
Chicago. ILL.,, March 25.-Judge Horton
of the circuit court to-day overruled the
motions of the board of trade, the West
ern Union Telegraph Company, the Gold
and Stock Telegraph Company and the
Postal Telegraph Company to dissolve
the temporary injunctions restraining
these parties from ''detaching telegraph
wires from the place of business of Harry
E. Wiley and the w. A. Mitchell Com
mission Company ct all" from removing
'tickers" and from cutting off or in any
wise interfering with the supply of mar
ket information as 1t has been heretofore
supplied"
The court says: "There is no averment
in the pleadings. no affidavit or evidence
charging, and no statement or argument
upon the theory, that either of the COM
plainants Is conducting a 'bucketshop,
or in using the market reports In any
illegal manner or for any Illegal purpose.
"Since the Incorporation Of the board Of
trade in 1852 the defendant, Western Tn
ion Telegraph Company, has continuously
been upon the floor and hall of the ex-
change of said board except possibly for
a short period. The Gold and Stock Tele-
graph Company is owned by, and is prac-
tically a part of the Western Union Tele-
graph Company. The defendant, the Pos
been for some years upon the floor of said
hall Of exchange collecting and transmit
ting the news as to the market price of
produce there established. Said telegraph
companies are common carriers of news,
and as such are to be controlled by the
same principle pertaining to the rights of
the public as other common carriers are.
The business transacted upon the floor of
said hall of exchange is so vast in it's
proportions that it fixes the market price
of grain, breadstuffs and meats for the ex-
tensive territory that is tributary TO Chi
siderable extent controls the necessaries
of life throughout the United States and
the civilized world
THE board of trade is a private corpo-
ration, II has-@the same rights as other
private corporations. It has the right to
control and manage its private property
ana anairS, the same as any other pri-
Vate corporation has. If, however the
board of trade has so used or permitted
such use of its property or any part Of 1t
that the same has become charged with a
public interest, then said board has no
legal right to deprive the public of the
interest thus acquired WHEN it is sought
and used only for legitimate purposes.
That the price of commodities for this
market is practically controlled by the
board of trade will hardly be questioned
ana that the public has an interest In the
prices of such commodities, is certain. In
other words, the board of trade has be-
come sort of public agent, controlling to
considerable extent public interests and
the interests of individual members of
that public who may be engaged in busi-
ness affected by the market news estab-
llshed by the board of trade
1.-THE defendant telegraph companies
have been so long permitted to continue to
transmit to the public the market news
and said telegraph companies have been
so long employed by the public. SO to do.
that said companies may now be consid-
cred as agents of the public for that pur-
pose, recognized as such by the board of
trade, Said board Is not, however. bound
TO furnish or to permit to be collected or
furnished in any manner, quotations or
market news to or for the use of any buck
ct shop. No corporation association, CO.
partnership or person keeping a bucket
shop and no person. whether acting indi-
vidually or as member, officer agent or
employee of any corporation, ASSOCIATION
or co-partnership in keeping a bucket
shop is entitled to receive any such mar
ket news. These market quotations have
become clothed with a public interest in
behalf of such producers, consumers, ship
pers, merchants and dealers engaged in
legitimate business and such as use or
furnish the same for use In the legitimate
transactions of the country. The law
never stamps private property with pub
lie interest for the benefit OF law-breaklng.