Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-10-12
BOARD MEMBERS FIRED
Chicago Board of Trade Di.mis.e.
Three Members On Charges of
Bucket Shopping and Others Are
Expected.

Chicago Oct. 12,-At It's first full
membership meeting since the summer
vacation period yesterday the direc-
torate of the Chicago Board of Trade
expelled three OF it's members for
bucket shopping. Floating about the
corridors of the big Exchange building
last night were rumors that the action
was but the opening wedge Of more
sensational explosions to come in the
near future.
Neither President Jackson of the
board nor Secretary Stone would dis
cuss these reports. The members ex-
PEELED were:
A S. Floyd. New York city.
F. B. Crawford, New York city.
julius H. Goldberg, New York city.
All of these were recently expelled
by the New York Consolidated Elk
change. The charges against them in
New York were the same in character
as those We sterday considered at great
length by the Chicago Board of Trade
directors.
Each Of the accused was charged
with engaging in fictitious deals-or
bucket shopping-under the cloak of
Board Of Trade sanction. 1t came to
the notice of the directors yesterday
both by the verbal testimony of w. Fl.
Wagner, vice president of the New
York Consolidated Exchange, and
documentary evidence, that the men
accused had operated extensively and
that many spectators of the inexper-
fenced class had sffered The vote to
expel these members from the Chicago
Board of trade was unanimous.
Last May Floyd, Crawford & Co.
failed in New York for $250,O00. Presi-
dent Jackson Of the Chicago Board of
Trade said last night. He added that
the charges heard against these men
were in the effect that they had after
ward INDUCED in bucket shop opera
tions, using their membership in the
Consolidated Exchange of New York
and the Chicago Board of Trade to
asst them.
From other sources the information
came that since their failure last May
Flody, Crawford & Co. had reorgan
lied on basis of 100000 capital and
were offering those who had suffered
by their failure stock in the new COM
pany at SO per cent Of each individual
claim, with the hope held out that flu
ture success might wipe out old scores
and bring about remunerative returns
Emphasis was put upon the fact that
the new organization held it's member
ships in the New York Consolidated
Exchange and the Chicago Board of
Trade. Now both have been wiped
OF The concern had western ex-
change in Chicago, operated by a man
named Sinners.
julius III. Goldberg was dropped
from membership here because the
New York Consolidated Exchange pro-
duced evidence to show that he was
dealing In fictitious trades, backed by
assertions of his that he secured his
quotations from tn Chicago Board of
Trade. 1t was shown to the directors
he did not. John Hill, Jr.. investigated
the case, going to New York city to
compare notes. and he laid the result
of his efforts before the board. This
is said 10 have clearly refuted the
claims of Goldberg.
He did very little business In Chica
go, altho he was represented TO some
extent on the board here by a La Sale
street firm.
1t was limited that the directors
wo,Ill hold special meeting during the
week to consider other charges.