The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-03-30

Tho Public Entitled to Them-The Ex-
change and the Telegraph Companies
Agents Of the Public Removal of Tick.
ers" aud Wires Observation-Disclosures of .
Chicago Judge.
Chicago. March 25.-Judge Horton. of
the circuit court, today 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
dissolve the temporary Anjunctions, re-
straining these parties from 'detaching
telegraph wires from the places of bus
mess Of Harry E. Wiley, the w. A.
Michael Commission Company, ct al,
from removing 'tickers' and from ut
ting off or in any wise interfering with
the supply of market information al
has been heretofore supplied" The
court said:
There is no averment in the plead
ings, no affidavit or evidence charging,
and no statement or argument upon
the theory, that either of the com
%plainants is conducting a bucket shop
or is using the market reports in any
illegal manner or for any illegal pur-
pose.
"Since the incorporation Of the board
of trade in 1859 the defendant Western
Union Telegraph Company has contin-
uOusly been upon the floor and hall
of the exchange of said board except
possibly for a short period. The Gold
and Stock Telegraph Company is own
ed by and is practically a part of the
Western Union Telegraph Company.
The defendant Postal Telegraph-Cable
rnr,n ~ boc ole, boan for ~, ,o.~-
upon the floor of said hall of exchange.
collecting and transmitting the news a..
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
principles 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 1t fixes thu
market price Of grain, breadstuffs and
meats for the extensive territory that
is tributary to Chicago and s%eriousl.
affects and to a considerable extent
controls the values of the necessities Of
life throughout the United States and
the civilized world.
The board of trade is a private cor
poratiOn, it has the same rights as
otter private corporations have. If
however, the board of trade has so
VI Sa1h . VI l. pIOp-
erty, or any part of it, that the sama
has become charged with a public in
%terest, then said board has no legal
right to deprive the public of the in
terest thus acquired when it is sought
and used only for legitimate
That the price of commodities of this
market is practically controlled by the
board Of trade will hardly be ques-
toned and that the public a an in
terest in the prices of such commodities
is certain. In other words, the board
OF trade has become a sort Of public
agent, controlling to a considerable ex-
tent public interests and the interests
of individual members of that public.
who may be engaged in business af-
fected by the market news established
by the board Of trade.
THE defendant telegraph companies
tinue to transmit to the public the
market news, and said telegraph
companies hav been so long employ
ed by the public, so to do, that said
companies may now be considered as
agents Of the public for the
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 bucket shop. No cor
pOration, association, cOpartnership or
person keeping a bucket shop, and no
person, whether acting individually or
as member, officer, agent or employee
Of any corporation, association or CO. !
PAL tnership in keeping a bucket shop,
is entitled to receive any such market
news. These market quotations AVE
become clothed with a public interest
in behalf Of such producers, consum-
ers, shippers, merchants, and dealers
engaged in legitimate business n
such as use or furnish the same for
use in legitimate transactions Of the
country. The law never stamps private
property with the public interest for
the benefit of l~aW-breaking."