New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-26
MARKET Quotations PUBLIC PROPERTY

An IMPORTANT DECISION BY JUDGE HORTON N
CHICAGO.
Chicago. March Judge Horton OF the Circuit
Court to-day overruleG the motions Of the Board
OF Trade the Western Union Telegraph Company.
the Cole and Stock Telegraph Company and the
Postal Telegraph Company. to dissolve the tenn
norarv innincfions restraining those parties from
'detaching telegraph wires from the place Of bus-
ness Of Harry Wiley. the W. \. Michael Com
mission Company ct al. from removing 'tickers'
and from cutting off in any wise interfering with
:he supply OF market information as has been
heretofore supplied " The Court said:
There is no averment in the pleadings. no am
davit or evidence charging. and no statement; or
arrt,ment upon the theory that either OF the COM
plainants is conducting 'bucket-shop or T. using
the market reports in any Illegal manner or for
any Illegal purpose.
since the Incorporation Of the Board Of Trade
in 1853 the defendant. the Western Union Tele-
graph Company. has continuously been upon the
door and hall Of the exchange Of said Board except
possibly for a snort period. The Gold and Stock
Telegraph Company is owned by and is practically
q part Of the Western Union Telegraph Company
Tho defendant. the Postal Telegraph-Cabic Com
pany. has also been FOR some years upon the floor
and hall Of said exchange collecting and trans
hitting the news the market price Of produce
there established Said telegraph companies are
common carriers OF news ana such are 10 be
controlled by the same principles pertaining 20 the
u
The business Transacted upon tle moor Oh 9a'u ~
change is so vast in us proportions that II fixes
the market price Of grain. Dreadstuns ana meats
cXteislve territory That Is tributary 10 NJ
oago and seriously affects, ana to considerable
extent controls values OF the necessarles OF lie
throughout the United States and the civilized
world.
..Tne Board OF Trade Is a private corporation; II
has the same rights other private corporal iOns
II has the right 10 control ana manage Its private
property and affairs. the any other private
CORPORATION has. H. however the Board OF Trade
has used or permitted sucn use OF Its property
ar nal III
charged with "a pubic interest, then said Board
has legal right TO deprive the public OF tne in
ferest thus acquired whom IL Is sought and used
only for legitimate purposes. That the price OF
commodities this market Is practically
frOllrd bv the Board OF Trade viii hardly be- ques-
toned. and that the public has an Interest In the
prices OF such commodities H. certain. In other
words the Board Of Trade has become sort OF
public agent, controlling 10 considerable extent
bubble interests and the interests Of individual
members Of that public who may be engaged In
business affected by the market news established
by the Board Of Trade
The defendant telegraph companies have been
so long permitted 10 continue and transmit to the
Danics nave been so long employed by the public
50 10 do that said companies may now he cOnsd-
cred as agents o. me puppB 10 Tor thnI purpeste
poard ts NOT however bound TO furnish or TO per
mil 10 be collected or furnished in any manner
quotations or market news 10 or Tor the use OF any
n.rsbip or person keeping a bucket-shOp. and no
person whether acting individually. or member
officer agent or empioye or any corporation. asso-
cfaffou cOpartnership In keeping a Ducket-shOp
4. entitled 10 receive such market news. These
market quotations have become clothed with a
r'"biic interest in behalf Of such producers. con-
pI,nrrs SINNERS merchants and dealers engaged
a. legitimate business. and such a. furnish
me same for use In the legitimate transactions of
erty with a public interest for the benefit OF law
breaking