Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-03-04
QUOTATION CONTROVERSY.
Board of Trade Will supply 1ele
graph Company With Prices.

graph company with Pr1CoDs
Chicago March 1.-Peace has been de-
clared between the telegraph companies
end the board of trade, and the war
which has waged since last August over
Chicago market quotations is at an end.
The flag Of truce was waved by the
board of trade in response to a popular
demand on the part of the membership
in the association for a restoration OF
the former conditions of unrestricted
quotations to reputable subscribers at
all outside points doing a speculative
business with this city. Members Of
practical idleness as a result Of the di-4
rectors' plan to kill off the bucket shops
of the country, and they believe they
have thus contributed all that could
reasonably be expected Of them.
Authority for the statement Of set
tiement comes from insiders who
claim that signing the new contracts is
practically all that remains to be done.
Board of trade quotations were cut OF
from the Western Union and Postal.
Telegraph companies on Aug. l, 1900, as
a means of keeping them away from
bucket shops, upon which the present
board of trade administration has been
conducting a vigorous fight for consld-
.rably over a year. No support in this
wal. of determination was received from
the telegraph companies, which claimed
they had no right, as common carriers,
Ito discriminate between any subscriber
Ito its market quotation service.
Confident that, deprived Of Chicago
quotations the bucket shops would be
driven out OF existence and that the
business they had formerly done would
flow into the board of trade. the direc-
tors We're induced to put the telegraph
companies off the floor and establish a
local distribution of quotations thru
ticker service known as the Type Tele-
graph Company This afterwards be-
came the much discussed Cleveland.
Telegraph Company, concern now
controlled entirely by the board OF
trade The new plan was moderately
successful within the restricted field Of
its Chicago operations, but howl upon
howl came from outside cities which
tried, with Indifferent success, to do
business on New York, Minneapolis and
St. Louis quotations furnished them by
the Western Union and Postal Tele-
graph companies For time the latter
We're stanch in their determination to
stay out of the quotation distribution
field claiming there was relatively
more revenue in doing a strictly COM
mercial business but negotiations grad
ually grew out of the appointment of a
special committee by the board OF trade
directors and terms of a settlement have
frequently been discussed during the
Hast three months both here and in New
FORK.
a ~
revenue to the board of trade for the
quotations proved something of a
stumbling block. Formerly the Western
Union paid $4,000 annually for the die
Itributing privilege doing it's own coi-
lecting of quotations on the floor. The
board demanded $4,000 year under
1.-the new deal.'' The telegraph com
spanies met this With an offer of s12. 600,
but demand an exclusive local field.
| This the board was not in position To
grant, having in the meantime become
tied up with the Cleveland company.
| Next the telegraph companies offered
$4,000, and conceded the boards pro-
3prietary interest in the quotations, per-
hitting the association to indicate the
direction in which they should be dis
|tributed. The final acceptance by the
board is on the basis of the last named
proposition, made by the telegraph
companies over two months ago.
In the new contracts there Will. the
story goes, be clause requiring the
telegraph companies to maintain prices
in the local field. This the Western
Onion is entirely willing to do. because
of card it has up its sleeve in the
nature of a new ticker. which lie said
70 be double distilled lightning in the
auickness of its operation when com
pared to either its old machine or to
those used by the Cleveland company.