Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-08-01
BLOW '.|. d The j !. bulls.
Injunction Obtained Against the Man.
ipulators Of the Corner in July
Oat Options.
Defendants Deny Charges and Deny
that any Conspiracy Exists
Among Them. r,
Take Exception to, the Claim of the
Plaintiffs as to the Value of
the July.

the July.
Chicago, Aug. Judge Chytraus
has modified the injunctio.- issued
Wednesday restraining the Clicaqo
board of trade and the board of trade
operators, James A.; Patten, Caring,
ton, Patten & Co., and Bartlett, Fra
zier & Co., from conducting corner
in July standard oats by restraining
the defendants from asking the. presi-
dent of the board of trade to endorse
down margins deposited by the com
plainants, Waite, Thorburn & Co., to
secure $4,000 bushels of short sales.
The court held session before the
opening hour Of the board of trade in
order that decision might be arrived
at before business was begun. So i'm
portant, however, did the court con-
slider the precedent of the case that
motion for dissolution of the tempo.
rary Injunction was not considered and
the case will come up for further adju-
dication next week. It,
The effect of the action of the court
is for the time to protect the complains
ants against any alleged corner and is
construed as working against the bull
clique of operators on the board.
Argument was brought to bear by
attorneys for the board and for the
defendant operators that inasmuch as
both the complainants and the defend
ants were members of a tribunal that
adjudicated controversies between it's
members the injunction should be dis
solved on the ground of want of juris-
diction. 1t was argued that the COM
plainants were premature in asking
for an Injunction against corner
when no such corner was in effect and
when the board of trade rules specifi-
cally prohibited corners.
The defendant members Of the
board of trade, in answer to the in
junction, denied the affirmation that
July standard oats were worth not in
excess Of 35 cents a bushel, and said
they were worth more than that price.
4 They Also Denied Any Conspiracy
among themselves or with Joseph Bid
well, the 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 fictitious value to the article,
and that they had made any purchase
for July delivery since July l. It was
set forth that the elevator accommo-
dation and railway facilities of Chi
cago were such that they would allow
Of the delivery of fifteen times the
amount of oats bought of Waite, Thor
burn & Co. by the defendants and that
frequently the defendants had bought
ten times as much as their total pur-,
chases in this delivery Following are
the purchases made in July standard
oats by the bull clique as set forth in
their affidavit: Il fsss sd +. T. 81
Bartlett, Frazier & Co., 100000 bush
els; Darlington, Patten & Co., 1OO,-
900 bushels; James A. Patten, $50 900
bushels.
y Attorney .J. H. Monroe, for the de-.
PENDANTS in addressing the court,
made sharp illusions to the complain
ants having been of speculative turn
of mind and sold something they did
not have and which they did not have
the means OF obtaining for delivery.
He said it looked as if the complain
ants We're trying to make money by
buying in property at less price than
that for which it had been sold.
Judge, Chytraus, before modifying
the order. told the attorneys he did
not consider the Injunction restrained
the defendants from bidding, buying
or selling or refusing to buy or sell
July oats in the pit or from any of
their, accustomed business operations
aside from those in connection with
the compliments.
There was practically no effect from
the injunction in the business in the
oats pit. The assurance by Judge
Chytraus that ordinary business could
be done by the defendants and other
members of, the Board OF trade acted
as check against any early violent
fluctuations.
ADAMS FELLOWSHIP FUND.