Omaha daily bee., 1902-08-01
SHORTS APPEAL TO THE LAW
Court Asked to Help Men Who Sold Oats
They Did Net Own.
DECISION is UNFAVoRABLE TO LONGS
Injunction Issued which for the Time
Protects ComPlainantS Against
Any AIIeEed Corner in Oats
on Board OF Trade.

CHICAGO, July sl.-Judge Chytraus to-
day modified the injunction Issued yester-
day restraining the Chicago Board OF Trade
and the Board Of Trade operators. James A..
Patten, Darlington, Patten & Co., and
Bartlett, Frazier q Co. from conducting a
corner in July standard oats. by restrain
ing the defendants from asking the presi-
dent OF the Board Of Trade to endose
down margins deposited by the complain
ants, Waite, Thornburn & Co., to secure
IS. 900 bushels Of short sales.
The court held session, however, before
the opening of the Board of Trade, in or
der that a decision might be reached be-
fore business was begun. So important,
however, did the court consider the prece-
dent Of the case, that a motion for a dis
solution Of the temporary injunction was
not considered and the case will come up
for further adjudication next week.
The effect of the action Of the court lie
for the time to protect the complainants
against any alleged corner and is con-
strued as working against the bull clique
Of operators on the board.
Argument was brought to bear by at
torneys for the board and for the defend
ant operators that inasmuch as both the
complainants and the defendants we're
members Of a tribunal that adjudicated
any controversies between its members, the
Injunction should be dissolved on the
ground OF want Of Jurisdiction. II was
argued that the complainaDts were pre-
mature in asking for an injunction against
a corner when no such corner was in effect
and when the Board Of Trade rules spe-
officially prohibited corners.
Not worth Price Asked.
The defendant members Of the board Of
trade in answer to the injunction denied
the affirmation that July standard oats
were worth not in excess Of 80 cents a
bushel and said they were worth more
than that price. They also denied any
conference among themselves or Joseph
Bidwell, grain inspector, to corner July
oats or to forestall the market in that
commodity or to raise the price of July
oats. They denied that they had given a
fictitious value to the article and that
they had made any purchases for July de-
livery since July 1.
1t was set forth that the elevator ac-
commodation and railway facilities Of Chi
cago were such that would allow Of deliv-
cry Of fifteen times the amount Of oats
bought Of Waite, Thornburg & Co. by the
defendants. and that frequently the de-
fendants had bought ten times as much as
~ NSNaA PoANhaoCo Ia NhAS CAANNAI
Purchases Of bull Clique.
Following are the purchases made in
July standard Vats by the bull Clique as
set forth In their afhdavit: Bartlett,
Frazier & Co., 300, 900 bushels; Darlington,
Patten & Co., 100, 900 bushels; James A.
Patten, 1000 bushels.
Attorney ]. H. Monroe, for the de-
PENDANTS, in addressing the court, made
sharp illusions to the compliments hav-
ing been of a speculative turn of mind
and sold something they did not have and
which they did not have the means Of OBJ
tanning for delivery. He said It looked
as II the complainants were, trying to make
money by buying property at a less price
than that for which It had been sold.
Judge Chytraus, before modifying the
order, told the attorneys he did not con-
slider the injunction restrained the de-
PENDANTS from bidding, buying or selling or
refusing to buy or sell July oats in the
pit or from any Of their accustomed bust
ness operations, aside from those In con-
nection with the complainants.
There was practically no effect from the
injunction in the business in the oats pit
today. The assurance by Judge Chytraus
that ordinary business could. be done by
the defendants and other members Of the
Beard OF Trade acted as q check against
any violent fluctuations. A notice was
posted on change interpreting the, court
action as a dismissal of the injunction
against the Board OF Trade and stating
that all business could proceed as usual.
save In the matter Of closing out deals
with Thoburn, Waite & Co. This matter
was considered in obeyance.
July standard cats opened 1 cent higher