The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-05
AFTERMATH Of
WIRE TAPPING
Developments Come Thick and
Fast as Result of Arrest of
Salt Lake Broker.
san FRANCISCO ATTORNEY
AFTER WESTERN UNION
Saws Salt Lake Will Be Brought
in Federal Court to Probe
Alleged Monopoly.

rTnr arrest of De Witt D. Lowe and
FIVE others last Friday morning on q
charge Of stealing stock quotations and
stock information coming from New
Yor,, oyer the wire of Badger Broth
crs. will proye the occasion for an
Investigation which viii be carried INTO
the federal court, aud the result OF
which will bear Il nationwide signlh-
cance.r said r. s. Mnot. prominent
attorney of San Francisco, last nlgnt-
Attorney Minot arrived in Salt Lake
Sunday 10 represent the interests OF
Moss q Co. an independent brokerage
firm Of San Francisco.
lie AYERS that JUS, rs soon as IL can
he drawn up. bill in equity FOR CON
suirncv in rcstraint Of trade and 20
effect Il discovery Of the methods oi
The opposition house Of r. +. Hutton
& Co. and to compel by injunction the
Western Union Telegraph company 10
furnish quotations rs n common car.
rier 10 all parties alike. viii be fled
in the local United States court.
widespread Investigation.
lie further AYERS that the Western
Union Telegraph company, E. +. hut
ton & Co.. New York stock exchange
and Chicago board of trade will be IN.
vestigated concerning their alleged
violation of the sherman antitrust law
ON the allegation of unjust discrimlna-
tioa IN delivery of stock quotations.
Willard Hanson has been engaged as
the local attorney for Moss x Co, SAID
Mr.. Miuot. H. b. Critchlow viii he en-
gagged as associate counsel.
-. T. McAlliSter, the only one of
those arrested, who has not yet fur,
nished bail and hceu released, SAID
Mr.. Minot. has not furnished bali on
my order as the representative of Moss
& co. lie is kept in prison awaiting
petition for habeas corpus TO thor
oughly test the jurisdiction OF the
court in cnusing his arrest and dcten-
tion. \ writ of habcas corpus will be
sled in bis case this morning.
Z" For many years there has been
strife between the New York stock
exchange. the Chicago board of trade,
and all brokers not members of those
two organizations. The New York
stock exchange and the Chicago board
Of trade have cndeavorcd through the
insfrumcntaiity of the Western Union
Telegraph company. To ostracisc every
competitor ostensiblv claiming that NJ
was in the interest Of legitimate mon
opoly in stock brokerage transactions.
hut in reality 10 maintain and control
market to the detriment Of the pro
duccr as well as the purchaser
Would Attack Monopoly.
''Thesc facts have been recognized
by the supreme court of the United
States in the case of Booth vs.. the State
Of Illinois. Other decisions have been
handed down severely criticising the
monopoly for the position they seek 10
occupy
'The supreme court as well as va
rious United States circuit courts have
held that % per cent OF all transac
tons on these two stock exchanges are
nothing more or less than buckctshop
transactions. with no actual delivery,
contemplated.
''Thc present dispute is between the
Moss & Co, and the T. f. Hutton &
Co OF New York. member of the New
York stock exchange and participants
in the monopoly to control quotations.
Tho clash of business interests In San
Francisco has caused hard feelings be-
tween Richard Mulcahev manager of
the T.. +. Hutton & Co.. and II. y.
Moss manager of the Moss & Co.
''Thc present legal entanglcment
grows out of business hatred between
two business houses and their efforts
To obtain business. Moss q Co. covers
lNt COAST from HPHilif lb fNdU plcEp
and as far cast as Salt Lake f. T.
Hutton has correspondents in the same
territory.
Denies Accusation.
"The accusation of overlapping is
absolutely and unquahfiedIv false. No
wire was tapped at any place and no
mechanical device used that might in
terccpt any message. Such informa-
lion from Badger Brothers house. If
any. was public property and not with.
IN any statute and no act was done
ar permitted To be done by Moss & Co.
hat would constitute an infraetion sof
the law
"When once the information Is
licked of a telegraph instrument in
the Office of Badger Brothers. il be.
comes public property. II floats out of
tho window aud is taken up in the
air Anybody can listen 10 it lust as
much as ANYBODY can listen TO the
booming of cannon.
' Moss 6 60. receives It's information
from many sources. Among other
places II comes from Milwaukee and
Philadelphia. Tho Moss company de-
liVets its stock and commodities when
called up on 20 do so. as does tho +.