Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-03-26
BUCKEr-sHOP QUOTATIONS.
Decision Agains, the Chicago Board
of Trudc.


CHICAGO. March 25.-Judge Horton, OF
the Circuit Court, to-day overruled the
motions Of the Board OF Trade. the
Western Union Telegraph Company, the
Gold and Stock Telegraph Company, and
the Postal Telegraph Company, to dis
solve the temporary injunctions re-
straining these parties from "detaching
telegraph wires from the places OF bust
ness Of Henry T.. Wiley, the w. a.
Michael Commission Company, ct al,
from removing flckers,' and from cut
ting of, or in any wise interfering with,
the supply OF market information. as has
been heretofore supplied
The Court said: There is no aver
ment in the pleadings no affidavit or
evidence charging. and no statement or
argument upon the theory, that either
Of the compliments is conducting
bucket shop or is using the market
reports in any Illegal manner or for any
illegal purpose.
Since tho incorporation Of the Board
Of Trade in 1889 the defendant, the
Western Union Telegraph Company, has
continuously been upon the floor Of the
hall of exchange of said board, except
possibly for a short period, and the Gold
and Stock Telegraph Company is owned
by, and IS practically n part Of the West
ern Union Telegraph Company. The de-
PENDANT, the Postal-Cable Company, has
also been for some years upon the floor
Of said hall Of exchange, collecting and
transmitting the news as 10 the market
price Of produce dealt in on the board.
The telegraph companies are common
carriers of news. and as such are TO be
controlled by the same principles per
tanning 10 the rights Of the public as
other common carriers are. The bust
ness transacted upon the floor OF said
hall OF exchange is so vast in its pro-
portions that il fixes the market price
Of grain and breadstufis in the mar
kets that are tributary to Chicago, and
seriously affects, and 10 a considerable
extent controls, the values Of the neces-
saries of life throughout the United
States and the civilized world.
"The Board OF Trade is a private cor
poraton. IL has the same rights as other
private corporations. II, however -
Board Of Trade has so used, or permit {
such use Of. its property, or any part Of
H. as 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 pur-
poses
THAT the price OF commodities is con-
troled by the Board Of Trade can hardly
De questioned, and that the public has an
interest i'm the price Of such commodities
IS certain In other words, the Board OF
Trade has become a sort OF public agent,
controlling TO a considerable extent pub
lie interests. and the interests of indi-
vidual members Of that public are af-
fected by the market news established
by the Board OF Trade.
"The defendant telegraph companies
have been so long permitted TO transmit
to the public the market news and said
telegraph companies have been so long
employed by the public so 10 do. that
said companies may now be considered
as agents of the public for that purpose.
recognized as such by the Board Of Trade.
Said board is not. however, obliged to
furn.s or to permit 10 be collected or
furnished, I'm any manner quotations or
market news to or for the use Of any
bucket-shop. No corporation, association,
cOpartnership, or person keeping a
bucket-shOp, and no person, whether act
ing individually or as a member officer,
agent, or employee Of any corporation,
ass Ociation, or copartnership keeping a
bucket-shOp. is entitled 10 receive any
such market news. These market quota
ton have become clothed with a public
interest in behalf Of such producers, con-
sumers, shippers, merchants, and dealers
engaged I'm 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 the public interest for the benefit or
Law -brpa king"