The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-03-03

| bucket shop and the latter denied the
proposition Mr.. Heath also de-
clared that Mr. Woodland did rot know
anything about business and this. also,
Mr. Woodland denied The reports which
Mr.. Woodland spoke Of were useless TO
up-to-datc business men, said MIR.
Heath. The manufacturer or the cot
ton dealer needs to use the htafketS
like an engineer would handle the
throttle of his engine.
1t would not do. said Mr.. Heath, 10
try to stop speculation. Speculation
started when Joseph cornered the corn
market of Egypt and 1t would con-
tinue. Life itself, IS a speculation
and You can't disassociate speculation
from its eXigencies.
Mr.. Heath rasped Mr.. Woodland on
his lack of appreciation Of the char
acter of his bill and the results. which
would attend it. lie had been favor
ably impressed with the man but not
with his ideas of business. The COM
parison With a faro game was all
surd. There was nothing of the flag,
flag, LUCKY flag and nobody there"
about the regular exchanges.
The quotations were help to the
farmers, said he. and they profited
by them. He quoted instances in
which he had used the markets for
the farmers benefit.
Converted to Futures.
Mr.. Adams. gentleman who
looked IS good as he doubtless is, al
so explained the methods Of hedging
spot purchases with future contracts.
In the beginning of his business ca
reer, said MIR. Adams. he had pos
sessed prejudice against futures. but
he had learned.
Mr. 0rr CoufnScaS tn nY1lverS''
Mr.. Orr then spoke to the commit
tee briefly to show the value OF the
markets In international transactions.
In response to question as to
whether all his dealings In futures
We're as hedges to SPOT transactions
Mr.. Orr replied that they were. except
when he took a turn on the market
At this season, though, said Mr.. Orr
confidentially he was keeping near
to the shore"
"What becomes of the other fellow
in 2 future deal when one party has
hedged?" asked Senator Vann, and
Mr. orr confessed that he didn't know
and that he did not trouble to find
out. He supposed he was hedging g
contract Of his own.
What is q Bucket Shop.
After Mr. Heath had explained the
difference between a bucket shop and
an exchange house to be substantially
that i'll the one case the transaction
was q bot made in the office of the
company. and in the other a transact
ton on the exchange between a buyer
and q seller, Mr.. Webster and Mr..
Woodland both replied to the oppon-
entS Of the bill a passage at arms oc-
curing between the latter and Senator
Duls over Mr.. Woodlands refusal to
accept an amendmnet letting the bill
apply only TO Wilson county, aud the
committee went into executive scS-
sion.
Other Bills Disposed OF.
The McNinch divorce bill was made
a special order of the committee for
today, either IN the afternoon or at
night, it being uncertain whether the
committee will meet at three in the
afternoon or eight in the evening.
Mr.. Koonce's bill to cure probatcS
in conveyances when clerks making
certificates of qualifications Of justices
of the peace are interested in the land
was reported fayorably, although
Messrs. Mason of CASTOR, and Duls,
of Meckloaburg, stated their doubts
as To it's legality.
Mr.. Winborne's bill practically Gre
ating n limitation within which grants
from the State might not be set up
as title against constructive posses
sion FOR rs long q space as two years.
with payment of taxes on the land.
was reported favorabIy. TO apply only
to Hartford county.
Another of Mr.. Winborne's bills
providing that grants from the State
signed by deputies for the Secretary
of State should be validated, was re-
ported favorably with an amendment
offered by Mr.. Mason. of Castor, that