Evening star., 1902-07-31
BULL CLIQUE ENJO|NED
Chicago Oats Corner Broken
by Court.
SHORTS PROTECTED
AN IMPORTANT DECISION BY
JUDGE CHYTRAUs.
Defendants Claimed That No Corner
Defendants Claimed That No Corner
Existed and Denied Courts
Jurisdiction.

CHICAGO, July 31.-Judge Chytraus to-
day modified the injunction issued yester-
day restraining the Chicago board of trade
and the board Of trade opers tors James A
Patten, Darlington, Patten & Co. and Bart
lett 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 indorse down
margins deposited by the complainants
Waite, Thorburn & Co. to secure 55 900
bushels of short sales. The court held ses-
sion before the opening hour of the
board OF trade in order that de-
cision might be arrived at before business
was begun. So important, however. did
the court consider the precedent of the case
that the motion for a dissolution of the
temporary Injunction was not considered,
and the case will come up for further ad-
judiCation next week
The effect of the action OF the court Is
Tor the time being, to protect the COM
plalnants against any alleged corner and
Is construed as working against the bull
Clique of operators on the board.
Plea of No Jurisdiction.
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 were
members of a tribunal which adjudicates
controversies between its members the in
junction should be dissolved on the ground
OF want of jurisdiction. 1t was argued
that the complainants were premature in
asking for an injunction against a corner
when no such corner WAS in effect and
When the board OF trade rules specifically
prohibited corners.
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 - cents a
bushel, and said they were worth more
than that price. They also denied any con-
spiracy among themselves or with 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
hctitious value TO the article. and that they
had made any purchases for July delivery
since July l. 1t was set forth that the
elevator accommodation and railway facili-
ties OF Chicago were such that they would
allow of delivery Of fifteen times the
amount of oats bought of Waite, Thorburn
Co by the defendants, and that fire.
quently the defendants had bought ten
times as much as their total purchases in
this delivery.
The Purchases of the Bull Clique.
Following are the purchases made in July
standard oats by the bull clique, as set
forth in their affidavit:
Bartlett, Frazier & Co., 900 600 bushels
Darlington, Patten & Co, 1oo3,0 900 bush
els
James a. Patten, SEQ 900 bushels
Attorney J. II. Monroe for the defendants
in addressing the court made sharp allu-
sions to the complainants having been Of a
speculative turn Of mind. and sold some
thing they did not have, and which they did
not have the means of obtaining for deliv-
cry. He said it looked as if the complain
ants were trying to make money by buying
in property at a less price than that for
which ii had been sold.
Judge ChYtraus, before modifying the or
der. told the attorneys he did rot 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 de-
dendants.