The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-08-02
CHICAGO FIGURES GDNE
GRAIN COMMISSION FIRMS DID NOT
GET WINDY CITY QUOTA
TIONS YESTERDAY
EMBARGO OF BOARD IN EFFECT
Minneapolis Quotations VIII Serve
the Local Dealers Purpose,
and, 1t Is Believed,
Equally Well.

OAAAAGdUOllS w III serve
the Local Dealers Purpose,
and, 1t Is Believed,
Equally Well.
The action of the Chicago board Of
trade In refusing to allow quotations to
be furnished any longer to commission
houses that are not members OF the
board of trade went into effect yesterday.
1t did not, however, interfere to any ex-
tent with the business of the commission
houses in St Paul. The Chicago quota
tons were missing, of course.
The few local houses that hold mem
bership in the board of trade received
their quotations as usual. They, how
ever. are the firms that handle presuma-
bly, the larger deals and when customer
buys or sells certain quantity of grain
the order goes direct to the Chicago
board and becomes as much an actual
transaction as any transaction in Chica-
go. The larger number of St Paul COM
bers Of the Chicago board. They are
called bucket shops" because they are
supposed to bucket or handle the bust
ness themselves. In small transactions
some of these firms take the risk of car
rytng the order and if the market goes
against them they have to stand 1t.
Others may replace their trades with
some other firm. There are ten or
twelve of these firms in st. Paul and 1t
was to cripple them here and all over
the country that the action of the Chi
cago people was taken. But the effect
amounted to nothing.
-
will be used. They are less numerous,
as the transactions are fewer on the
Minneapolis Chamber than in Chicago,
but for speculative purposes they are just
as good. This, Of course, is more eS-
pecially true Of the wheat market The
New York quotations are also received
and trading can be done on those quota
tions The difference in time, however,
cuts little figure. But there is no
handicap to the Minneapolis quotations
and they will serve the speculatively in
clined so far as Minneapolis and st. Paul
is concerned.
1.-The Minneapolis quotations" said a
commission man yesterday, are just as
good as those from Chicago. In fact,
they. are better in one respect. Every
quotation from Minneapolis represents an
actual trade, while the Chicago business
is all wind
lin NI1NN EAGOlL1O.
The Minneapolis Chamber of Commerce
experienced one of the dullest days in its
history for no official Chicago Board of
Trade quotations were received here
either. The decision of the Chicago board
to not furnish figures to the telegraph
companies, unless they promised to keep
them secret and away from the bucket
shops, went into effect yesterday. The
companies maintain that as they are COM
mon carriers they cannot comply with the
request, and consequently no official fig
ures were received yesterday. The action
of the Chicago board is for the purpose
of shutting out the bucket shops.
H. The Chicago figures were received in this
city yesterday from other sources, but on
the black board at the chamber they were
marked unofficial" They did not come
with any regularity and were many min
utes late.
The local commission houses do not ap-
pear to- be greatly worried over the stu
alton, and many of the men on the floor
of the chamber yesterday took the matter
in the light of a joke.
AS the change only went into effect
yesterday it is difficult to stare at this
stage of the matter what the outcome will
be. Some local commission men stated
yesterday that they did not care what
Chicago did. D. M. Robbins said:
have never done hedging in Chicago.
Minneapolis and Duluth figures are good
enough for me, and ] believe it will be
better for the Minneapolis men when they
thoroughly recognize this. Many of the
men here seem to think that we must de-
pend upon Chicago, and this Is evidently
the view in Chicago. I would not be sur
prised to see a great change in the pres
ent situation within the next forty-eight
hours. Minneapolis should be able to get
along without Chicago. for it is the great
est selling market in the country"
The leading commission houses yester-
day received their Chicago figures from
private sources, and it Is rot anticipated
that they will have any trouble 10 do so
in the future.
LIVELY TIMES TODAY.
An interesting time is expected at the
chamber this morning, when a vote Will be
taken on amendment to the rules The
proposed rules were furnished members
yesterday, and some sections were quite
extensively discussed. Section one caught
the attention of many. This provides:
The government Of the Chamber Of
Commerce of the city of Minneapolis and
tho control and mama cement OF all its
property, rights and jnte ,ests, a1e hereby
vested in a board of thirteen"
This is objected to by many, who claim
that If 1t is adopted the board will be able
to do anything without the matter comm
before the chamber. Tnen th-Ic i another
which is in line with the hicago Ecord CT
Trade action. 1t pr .vides-
ut shall be deemed an offense to furnish
market quotations in any manner. either
directly or indirectly, to parties doing a
conlr~ ission or brokerage business outside
OF the Chamber Of Commerce of .Ninne-
aroiis.'
Secretary G. D. Rogers, in discussing the
criticisms said:
There appears to be certain people who
are always against the government. It is
stated that this is something new, but that
only shows that these members are not ac-
q3a1nted with the present rules Section z
OF Rule ", provides that members shall
not furnish quotations, in the exact Ian
guage of the provision to be voted upon
today. The charter of the chamber pro-
vtdes that the control and government
shall be vested with the board"
1t Is probable, howver that the vote will
be an interesting. one, for there are many
members who are opposed to both provi-
sions.
Local traders take little interest In the
proposed Interchange telegraph company
and expect to see the atmosphere cleared
in a few days.
Deposits made on or before Aug. at
The State Savings Bank, Germania LIZ