The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-23
MAKE FLAT DENIAL
Independent Trades Say They Have
Not Secured Chamber by
Grapevine"
Their Answer Admits That Certain
Transactions Are Mere Wagers
chamber Denounced,

Defendants answer in the injunction
proceedings brought in the district court
by the Minneapolis Chon1ber of Coume cree
against the Coe Commission company and
the Minneapolis Independent Grain and
stock exchange, to erjoin them from OBJ
tanning and using PLAINTIFFS market quo
tat1ons, has been filed. The defendants
admit many Of the allegations but spe-
clhcally deny that they have any interest
IN securing or ever have secured In any
manner whatsoever, the quotations Of
plaintiff. They allege that they have done
nothing not entirely permissible in law
and equity. y.
lengthy document, covering In detail all
OF the phases Of the trouble between the
chamber and the alleged bucket shops.
1t IS prepared by Lancaster & MCGEE, at
torneys for the defendants
Inc defendants deny that they are en-
oeaVor1ng to stifle competition or to mo-
nopollze the control of the grain business
IN Minneapolis. They allege that the QUO
tatlons complained Of are made by the
operations carried on in the pit of plain
tl1t' that these quotations are of no real
value and further allege in this connection
that all of the transactions SO carried ON
are known and designated as transac-
IONS IN futures and are purely specula-
1--WE; that such quotations are publicly
announced by the PLAINTIFF and generally
distributed thruout the northwest .
BUSINESS done by the defendants and
their branch offices is alleged to amount
to over 100000 bushels per day and the
pacing or fictitious values and of manipu-
lating the market for their own gain ia
specifically denied. -
.-.. Deny Stealing Quotations.
Allegations of the complaint as to the
methods pursued by the defendants in se-
curing quotations from the office Of a
member Of the chamber Of commerce
namely, Corse & Thomas, are refuted nv
de1endants who set up that their agent
visited said office for the purpose Of car
rylng on business transactions and not
surrept1ousiy to obtain the chamber QUO
Tau Iatlons, ana that the said office was pub
lie and the said quotations were posted
therein on large blackboard in plain
view of any one who wished to visit the
place ~
The answer alleges that formerly the
zoe Commission company did operate
pace spoken OF as a bucket shop but
that, since the first Of January. 1909 #
has not and Is not now so doing. IT is 3D.
m1tted that the transactions carried IN
IN defendants offices are in effect "nere
Wagers upon the f1uctuat lions in the mar
ket prices of the commodity traded IN y
put 1t is deied that the element of chance
is any more in evidence in defendants
IMAM In plaintiffs transactions.
Defendants allege that they believe tho
only purpose of the present action is to
hinder embarrass and, if possible. de-
stroy the business Of the Minneapolis In
dependent Grain and Stock Exchange and
the Coe Commission company,
< A sweeping denunciation Of the meth-
DDS of the chamber of commerce in snec-
ulat1on and "option trading is entered
into and it is alleged that the total amount
OF grain actually bought and sold in the
PIT OF ,the chamber amounts to about
wagering transactions AMOUNTS in a wear
to 1000, 00O 900 bushels. col
In conslusion, it is alleged that the snec-
alator stands q, better chance with the de-
PENDANTS than, with the plaintiff on A.
count OF the fact that the commission
place of business. i i'