The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-29
REPRESENTATIVES of Western Com.
nerrial Exchanges to Meet in
Chicago TO Morrow.
ST. LOUIS TO BE REPRESENTED
Proposed Independent Commercial
Telegraph Company Not In
dorscd by Local Traders
Bucket Shop Evil.

A meeting % representatives OF the vari-
Gus commercial exchanges Of the West will
be held at the Chicago Board Of Trade to-
niorrnw to consider the question of send
ing out grain and other exchange quota
tons Ex-Congressman 3. ". Cobb and
Corwiu II. Spencer have been appointed by
President Whiielaw 10 represent the St.
Louis Merchants Exchange at the confer
ence. He VIII depart for Chicago tonight
Members of the Chicago Board OF Trade
are TN favor of retaliatng upon the western
Union and Postal telegraph companies by
establishing an independent telegraph sys-
tenn to be operated by the commercial eK-
changes Of the country.
In circular letter sent to the officers OF
the different exchanges OF the country. II Is
proposed to organize new telegraph com
pany with several million of dollars capt.
tai, 10 be divided among the exchanges or
the country. Under the proposed plan
every private wire house In the country Is
expected to become a shareholder in the
new company and 10 sign a contract Tor at
least five years service at the start. The
different exchanges Of the country viii save
enough money In the way of telegraph
charges. # is thought. to be able TO con-
t'ihu,e literally toward the new enterprise.
and In this way It is said. fair working
expect to get the support Of the Associated
Press and the newspapers of the country
Tor their new telegraph line.
BY having Ii telegraph company con-
,rolied by the exchanges II Is said that a
better continuous quctaIion service can be
obtained, and II will be possible 10 prevent
bucket shops from securing quotations from
any of the exchanges
President Whitelaw of the Merchants EN-
change is not very sanSuine of the success
Of the proposed cooperative telegraph line
To- connect the various exchanges OF the
country In speaking of the matter yester-
day he said;
1T appears to me that the Idea IS some
what Visionary. as the Undertaking is too big
afraid tina. the expected support of the As
ISOLATED Press and the newspapers will not
materialize. The St Louis exchange VIII
send a committee to attend the conference.
ana we are anxious to cooperate with the
other exchanges In their efforts Ia crush out
the buckct-shOp evil. but DO not expect
an independent telegraph line to be estab-
Ished"
other members of the exchange expressed
themselves as being opposed to the inde-
The following special dispatch from Chi
cago was received by The Republic last
''The Board Of Trade has again been en-
Joined from cutting of its market report
TO subscribers. ON the petition of the Con-
,raI stock and Grain Exchange OF chr
cage. Judge Bishop to-day issued an order
temporarily restraining the Board Of Trade
from cutting off its market quotations serv-
Zee or from entering into any combination
or contract with che telegraph companies
which viii restriC; the general public from
gcitin. the quotations OF the Board Of Trade
markets.
The Injunction Is broad enough, 1t Is as
sorted. to prevent the board from Interior
ing in any way with the Western Union
Telegraph Company in gathering ana as
tributinI the market reports to the present
subscribers of the telegraph companies mar
tet service. In it's complaint the Central
Stock and Grain Exchange says that should
th., market report i.e cut off the petitioners
business would be greatly injured.